SHENZHEN SPECIAL ECONOMIC ZONE REAL ESTATE
& PROPERTIES (GROUP) CO. LTD.THIRD QUARTER REPORT 2019
October 2019
2
Part I Important Notes
The Board of Directors (or the “Board”) the Supervisory Committee as well as the directors
supervisors and senior management of Shenzhen Special Economic Zone Real Estate &
Properties (Group) Co. Ltd. (together with its consolidated subsidiaries the “Company”
except where the context otherwise requires) hereby guarantee the factuality accuracy and
completeness of the contents of this Report and its summary and shall be jointly and severally
liable for any misrepresentations misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.Zhou Jianguo chairman of the Company’s Board Chen Maozheng the Company’s General
Manager Tang Xiaoping the Company’s head for financial affairs and Qiao Yanjun head of
the Company’s financial department (equivalent to financial manager) hereby guarantee that
the Financial Statements carried in this Report are factual accurate and complete.This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions the Chinese versions
shall prevail.Part II Key Corporate Information
I Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.□ Yes √ No
30 September 2019 31 December 2018 Change (%)
Total assets (RMB) 5356733785.86 4665891514.25 14.81%
Equity attributable to the listed
company’s shareholders (RMB)
3567776133.53 3332259641.39 7.07%
Q3 2019 YoY change (%) Q1-Q3 2019 YoY change (%)
Operating revenue (RMB) 652161755.98 130.78% 1903499558.55 18.96%
Net profit attributable to the listed
company’s shareholders (RMB)
106361655.99 136.70% 439517499.40 17.52%
Net profit attributable to the listed
company’s shareholders before
exceptional items (RMB)
105876740.20 136.54% 438722772.58 17.34%
Net cash generated from/used in
operating activities (RMB)
-- -- 1041915679.29 56.73%
Basic earnings per share
(RMB/share)
0.1051 136.71% 0.4345 17.53%
Diluted earnings per share
(RMB/share)
0.1051 136.71% 0.4345 17.53%
Weighted average return on equity
(%)
3.08% 1.59% 12.74% 0.33%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1-Q3 2019 Note
Gain or loss on disposal of non-current assets (inclusive of
impairment allowance write-offs)
-8109.05
Non-operating income and expense other than above 1067744.81
Less: Income tax effects 264908.94
Total 794726.82 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or 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 for the Reporting Period.II Total Number of Shareholders and Holdings of Top 10 Shareholders at 30 September 2019
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders 76443
Number of preferred
shareholders with resumed
voting rights (if any)
0
Top 10 shareholders
Name of
shareholder
Nature of
shareholder
Shareholding
percentage
Number of shares Restricted shares
Shares in pledge or frozen
Status Shares
Shenzhen
Investment
Holdings Co. Ltd
State-owned legal
person
63.55% 642884262
Shandong Gold
Financial Holding
Capital
Management Co.Ltd. － Shandong
Gold Financial
Holding
Sustaining Fund
1
Domestic
non-state-owned
legal person
1.02% 10300000
Lu Zhigao
Domestic natural
person
0.32% 3246949
Tan Shiqing
Domestic natural
person
0.13% 1286701
Yang Shuilian
Domestic natural
person
0.13% 1273700
Yang Jianxiong
Domestic natural
person
0.12% 1255750
Central Huijin
Asset
Management Co.Ltd.State-owned legal
person
0.12% 1165500
Peng Wei
Domestic natural
person
0.11% 1129082
Wu Haoyuan
Foreign natural
person
0.11% 1109300
Guotai Junan
Securities (Hong
Kong) Limited
Foreign legal
person
0.10% 1015683
Top 10 unrestricted shareholders
Name of shareholder Unrestricted shares
Shares by type
Type Shares
Shenzhen Investment Holdings Co.Ltd
642884262
RMB-denominated
ordinary stock
642884262
Shandong Gold Financial Holding
Capital Management Co. Ltd. －
Shandong Gold Financial Holding
Sustaining Fund 1
10300000
RMB-denominated
ordinary stock
10300000
Lu Zhigao 3246949
RMB-denominated
ordinary stock
3246949
Tan Shiqing 1286701
RMB-denominated
ordinary stock
1286701
Yang Shuilian 1273700
RMB-denominated
ordinary stock
1273700
Yang Jianxiong 1255750
Domestically listed
foreign stock
1255750
Central Huijin Asset Management
Co. Ltd.
1165500
RMB-denominated
ordinary stock
1165500
Peng Wei 1129082
RMB-denominated
ordinary stock
1129082
Wu Haoyuan 1109300
Domestically listed
foreign stock
1109300
Guotai Junan Securities (Hong
Kong) Limited
1015683
Domestically listed
foreign stock
1015683
Related or acting-in-concert parties
among shareholders above
The Company has found no related parties or acting-in-concert parties as defined in the
Administrative Measures for Shareholding Changes in Listed Companies among the
shareholders above.Top 10 ordinary shareholders
involved in securities margin trading
(if any)
The fourth shareholder holds all his shares in the Company in his accounts of credit. And the
third shareholder holds some of his shares in the Company in such accounts.Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant Events
I Changes in Key Consolidated Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Key income
statement items
Q1~Q3 2019 Q1~Q3 2018 Change (%) Explanation of why
Operating revenue 1903499558.55 1600129891.28 18.96% Rise in property sales
Taxes and surcharges 582491558.12 316767417.97 83.89% Withdrawal of taxes
Selling expense
49974829.49 41241971.51 21.17% Rise in sales agent fees and commissions for
sale
Investment income 13914978.88 827100.00 1582.38% Rise in wealth management income from
structured deposits
Key cash flow
statement items
Q1~Q3 2019 Q1~Q3 2018 Change (%) Explanation of why
Net cash generated
from/used in
operating activities
1041915679.29 664798431.71 56.73% Rise in funds returned of property sales
Net cash generated
from/used in
investing activities
-388654134.68 -599463465.47 35.17% Increase/decrease in purchase of six-month
bank structured deposit
Net cash generated
from/used in
financing activities
-204332000.00 -136127057.86 -50.10% Payment of 2018 annual dividend
Key balance sheet
items
30 September 2019 31 December 2018 Change (%) Explanation of why
Other current assets
1376743413.84 6780999.56 20202.96% Purchase of six-month bank structured
deposit of RMB1.3 billion
Short-term
borrowings
50540833.79 17260103.46 192.82% Rise in commercial acceptance bill
discounting and the use of such bills as
pledge for loans by Shenzhen Zhentong
Engineering Co. Ltd.
Advances from
customers
409595478.21 156426152.86 161.85% Rise in property presales
Taxes payable 650486840.43 300547372.98 116.43% Withdrawal of land VAT
II Progress Influence and Solutions Associated with Significant Events
√ Applicable □ Not applicable
Since the controlling shareholder of the Company is planning a significant event that involves the
Company upon the application to the Shenzhen Stock Exchange trading in the stocks of the
Company (A-stock under the name of “SPG” and the code of “000029”; B-stock under the name of
“SPG-B” and the code of “200029”) was suspended starting from the opening of 14 September
2016. The Company disclosed the Announcement on Share Trading Suspension due to Planning of
Significant Event (No. 2016-022) the Announcement on Continued Share Trading Suspension due
to Planning of Significant Event (No. 2016-023) and the Announcement on Continued Share
Trading Suspension due to Planning of Significant Event (No. 2016-024) on 14 September 2016 22
September 2016 and 29 September 2016 respectively. Upon ascertainment the event constituted a
material asset restructuring. The Company disclosed the Announcement on Share Trading
Suspension due to Planning of Major Assets Restructuring (No. 2016-025) on 30 September 2016
and the Announcement on Signing Cooperation Agreement on Restructuring and Listing (No.
2016-027) on 10 October 2016.
The Company convened the 33
rd
Meeting of the 7
th
Board of the Directors on 11 November 2016
which the Proposal on Continued Share Trading Suspension due to Planning of Major Assets
Restructuring was reviewed and approved. For details see the Announcement on Continued Share
Trading Suspension after Expiration of Period of Share Trading Suspension due to Planning of
Major Assets Restructuring (No. 2016-039) disclosed on 14 November 2016.The Company convened the 1
st
Extraordinary General Meeting of 2016 on 12 December 2016 on
which the Proposal on Continued Share Trading Suspension due to Planning of Major Assets
Restructuring was reviewed and approved. For details see the Announcement on Application for
Continued Share Trading Suspension after Expiration of Period of Share Trading Suspension due
to Planning of Major Assets Restructuring (No. 2016-047) disclosed on 13 December 2016.The Company held an online illustration meeting to investors on 10 March 2017 communicating
this major assets restructuring with them and answering questions that they were generally
concerned about with the information allowed to be disclosed. For details see the Announcement on
Online Illustration Meeting to Investors (No. 2017-012) disclosed on 11 March 2017.To ensure the smooth progress of this major assets restructuring prevent abnormal fluctuations in
the prices of its stocks and protect the rights and interests of its non-controlling interests the
Company has applied to the Shenzhen Stock Exchange for continued share trading suspension for
no more than 1 month as of 14 October 2019. For details see the Announcement on Delay of Share
Trading Resumption due to the Major Assets Restructuring in Planning (No. 2019-069) disclosed
on 14 October 2019.
During the share trading suspension period the Company shall disclose the progress of this major
assets restructuring at least every five trading days in strict accordance with the requirements of
applicable laws and regulations. At present this major assets restructuring is proceeding smoothly.This major assets restructuring is subject to great uncertainty. Therefore investors are kindly
reminded to pay attention to possible investment risk.Summary of the significant event Disclosure date Index to the related announcement
Delay of share trading resumption due to
the major assets restructuring
14 October 2019
Announcement on Delay of Share Trading
Resumption due to the Major Assets
Restructuring in Planning disclosed on
www.cninfo.com.cn
Progress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller Shareholders Related Parties
Acquirers the Company Itself or Other Parties Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.IV Securities Investments
□ Applicable √ Not applicable
No such cases in the Reporting Period.V Wealth Management Entrustment
√ Applicable □ Not applicable
Unit: RMB’0000 (in RMB ten thousand yuan)
Type of wealth
management
Funding source Principal
Outstanding amount
before maturity
Overdue amount
Wealth management
product purchased from
bank
Idly self-funded 130000 130000 0
Total 130000 130000 0
High-risk wealth management entrustments with amounts that are individually significant or with low security low liquidity or no
protection of the principal:
□ Applicable √ Not applicable
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
VI Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.VII Communications with the Investment Community such as Researches Inquiries and
Interviews during the Reporting Period
√ Applicable □ Not applicable
Date
Way of
communicat
ion
Type of
communication
party
Index to main information communicated
4 July 2019 By phone Individual
Inquired of semi-annual operating conditions of the Company the
progress of assets restructuring and the expected time for share trading
resumption and didn’t offer written materials
24 July 2019 By phone Individual
Inquired of the progress of assets restructuring and the time for share
trading resumption and didn’t offer written materials
5 August 2019 By phone Individual
Inquired of the progress of assets restructuring time for share trading
resumption the estimated disclosed time of interim report and didn’t
offer written materials
12 September 2019 By phone Individual
Inquired of the progress of assets restructuring and the time for share
trading resumption and didn’t offer written materials
18 September 2019 By phone Individual
Inquired of the progress of assets restructuring and the time for share
trading resumption and didn’t offer written materials
30 September 2019 By phone Individual
Inquired of the progress of assets restructuring the operating conditions
of the Company and the estimated disclosed time of third quarter report
and didn’t offer written materials
VIII Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.IX Occupation of the Company’s Capital by Controlling Shareholder or Its Related Parties
for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by ShenZhen Special Economic Zone Real Estate & Properties (Group) Co. Ltd.
30 September 2019
Unit: RMB
Item 30 September 2019 31 December 2018
Current assets:
Monetary capital 1596992324.87 2048522435.93
Settlement reserve
Interbank loans granted
Trading financial assets
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable
Accounts receivable 4617431.10 18166888.19
Accounts receivable financing 50540833.79 15260103.46
Prepayments 4258825.79 4177767.88
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 48847322.80 45018027.61
Including: Interests receivable 2453067.78
Dividends receivable 1052192.76 1052192.76
Financial assets purchased under
resale agreements
Inventories 1535048270.34 1685152051.26
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 1376743413.84 6780999.56
Total current assets 4617048422.53 3823078273.89
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Available-for-sale financial assets
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 12561107.24 12561107.24
Investments in other equity
instruments
17464240.74 17464240.74
Other non-current financial assets
Investment property 606216103.06 623930838.15
Fixed assets 30722640.76 33926198.52
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
R&D expense
Goodwill
Long-term prepaid expense 237604.04 387066.91
Deferred income tax assets 72483667.49 154543788.80
Other non-current assets
Total non-current assets 739685363.33 842813240.36
Total assets 5356733785.86 4665891514.25
Current liabilities:
Short-term borrowings 50540833.79 17260103.46
Borrowings from central bank
Interbank loans obtained
Trading financial liabilities
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable
Accounts payable 102124885.10 216758906.71
Advances from customers 409595478.21 156426152.86
Contractual liabilities
Financial assets sold under
repurchase agreements
Customer deposits and interbank
deposits
Payables for acting trading of
securities
Payables for underwriting of
securities
Payroll payable 50007436.05 45836830.05
Taxes payable 650486840.43 300547372.98
Other payables 651191058.48 721819898.48
Including: Interest payable 16535277.94 16535277.94
Dividends payable
Handling charges and commissions
payable
Reinsurance payable
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 1913946532.06 1458649264.54
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables 7228924.42 6507139.20
Long-term payroll payable
Provisions
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 7228924.42 6507139.20
Total liabilities 1921175456.48 1465156403.74
Owners’ equity:
Share capital 1011660000.00 1011660000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 978244910.11 978244910.11
Less: Treasury stock
Other comprehensive income 8895378.71 10564385.97
Specific reserve
Surplus reserves 95906222.59 95906222.59
General reserve
Retained earnings 1473069622.12 1235884122.72
Total equity attributable to owners of
the Company as the parent
3567776133.53 3332259641.39
Non-controlling interests -132217804.15 -131524530.88
Total owners’ equity 3435558329.38 3200735110.51
Total liabilities and owners’ equity 5356733785.86 4665891514.25
Legal representative: Zhou Jianguo Head for financial affairs: Tang Xiaoping
Head of the financial department: Qiao Yanjun
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 September 2019 31 December 2018
Current assets:
Monetary capital 1115908985.50 1344486378.53
Trading financial assets
Financial assets at fair value through
profit or loss
Derivative financial assets
Notes receivable
Accounts receivable 4525949.25 5164795.67
Accounts receivable financing
Prepayments 200000.00 200000.00
Other receivables 832710786.71 770374849.84
Including: Interests receivable 2380301.11
Dividends receivable
Inventories 459920302.31 543912100.37
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 1300411933.22 215745.41
Total current assets 3713677956.99 2664353869.82
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 235284776.57 235284776.57
Investments in other equity
instruments
12000000.00 12000000.00
Other non-current financial assets
Investment property 495010020.93 511040299.65
Fixed assets 20120995.57 21942842.11
Construction in progress
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets
R&D expense
Goodwill
Long-term prepaid expense 208098.37 346015.72
Deferred income tax assets 16699980.23 16699980.23
Other non-current assets
Total non-current assets 779323871.67 797313914.28
Total assets 4493001828.66 3461667784.10
Current liabilities:
Short-term borrowings
Trading financial liabilities
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable
Accounts payable 11094133.23 16743360.96
Advances from cu 233432577.05 22035608.45
Contractual liabilities
Payroll payable 27646915.84 19687728.50
Taxes payable 632866442.01 144621616.85
Other payables 197866802.45 594392900.98
Including: Interests payable 16535277.94 16535277.94
Dividends payable
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities
Total current liabilities 1102906870.58 797481215.74
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities
Total liabilities 1102906870.58 797481215.74
Owners’ equity:
Share capital 1011660000.00 1011660000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 964711931.13 964711931.13
Less: Treasury stock
Other comprehensive income
Specific reserve
Surplus reserves 72776609.18 72776609.18
Retained earnings 1340946417.77 615038028.05
Total owners’ equity 3390094958.08 2664186568.36
Total liabilities and owners’ equity 4493001828.66 3461667784.10
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2019 Q3 2018
1. Revenue 652161755.98 282588259.93
Including: Operating revenue 652161755.98 282588259.93
Interest income 0.00 0.00
Premium income 0.00 0.00
Handling charge and
commission income
0.00 0.00
2. Operating costs and expenses 508167839.25 220922105.26
Including: Cost of sales 225926024.78 166327629.97
Interest expense 0.00 0.00
Handling charge and
commission expense
0.00 0.00
Surrenders 0.00 0.00
Net claims paid 0.00 0.00
Net amount provided as
insurance contract reserve
0.00 0.00
Expenditure on policy
dividends
0.00 0.00
Reinsurance premium
expense
0.00 0.00
Taxes and surcharges 242162059.26 39426927.21
Selling expense 31500769.16 4074837.74
Administrative expense 12335872.01 12770414.32
R&D expense 0.00 0.00
Finance costs -3756885.96 -1677703.98
Including: Interest
expense
799841.10
Interest
income
3166663.05 2555154.36
Add: Other income 0.00 0.00
Investment income (“-” for loss) -373119.67 0.00
Including: Share of profit or loss
of joint ventures and associates
0.00 0.00
Derecognition income of financial
assets measured at amortized cost
0.00 0.00
Foreign exchange gain (“-” for
loss)
-351902.84 521899.87
Net gain on exposure hedges (“-”
for loss)
0.00 0.00
Gain on changes in fair value (“-”
for loss)
0.00 0.00
Credit impairment loss (“-” for
loss)
0.00 0.00
Assets impairment loss (“-” for
loss)
0.00 0.00
Asset disposal income (“-” for
loss)
-8109.05 -19206.48
3. Operating profit (“-” for loss) 143260785.17 62168848.06
Add: Non-operating income 815092.19 421906.22
Less: Non-operating expense 107300.67 151583.73
4. Profit before tax (“-” for loss) 143968576.69 62439170.55
Less: Income tax expense 37567074.64 17457900.83
5. Net profit (“-” for net loss) 106401502.05 44981269.72
5.1 By operating continuity
5.1.1 Net profit from continuing
operations (“-” for net loss)
106401502.05 44981269.72
5.1.2 Net profit from discontinued
operations (“-” for net loss)
0.00 0.00
5.2 By ownership
5.2.1 Net profit attributable to
owners of the Company as the parent
106361655.99 44934281.00
5.2.2 Net profit attributable to
non-controlling interests
39846.06 46988.72
6. Other comprehensive income net of
tax
-2506066.59 -3127250.66
Attributable to owners of the Company
as the parent
-1754246.62 -2189075.46
6.1 Items that will not be
reclassified to profit or loss
0.00 0.00
6.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
0.00 0.00
6.1.2 Share of other
comprehensive income of investees that
will not be reclassified to profit or loss
under equity method
0.00 0.00
6.1.3 Changes in the fair value of
investments in other equity instruments
0.00 0.00
6.1.4 Changes in the fair value of
the company’s credit risks
0.00 0.00
6.1.5 Other 0.00 0.00
6.2 Items that may subsequently be
reclassified to profit or loss
-1754246.62 -2189075.46
6.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss under
equity method
0.00 0.00
6.2.2 Changes in the fair value of
investments in other debt obligations
0.00 0.00
6.2.3 Gain/Loss on changes in the
fair value of available-for-sale financial
assets
0.00 0.00
6.2.4 Other comprehensive
income arising from the reclassification
of financial assets
0.00 0.00
6.2.5 Gain/Loss arising from the
reclassification of held-to-maturity
investments to available-for-sale financial
assets
0.00 0.00
6.2.6 Allowance for credit
impairments in investments in other debt
obligations
0.00 0.00
6.2.7 Reserve for cash flow
hedges
0.00 0.00
6.2.8 Differences arising from the
translation of foreign
currency-denominated financial
statements
-1754246.62 -2189075.46
6.2.9 Other 0.00 0.00
Attributable to non-controlling
interests
-751819.97 -938175.20
7. Total comprehensive income 103895435.46 41854019.06
Attributable to owners of the Company
as the parent
104607409.37 42745205.54
Attributable to non-controlling
interests
-711973.91 -891186.48
8. Earnings per share
8.1 Basic earnings per share 0.1051 0.0444
8.2 Diluted earnings per share 0.1051 0.0444
Where business combinations under common control occurred in the current period the net profit achieved by the acquirees before
the combinations was RMB0.00 with the amount for the same period of last year being RMB0.00.Legal representative: Zhou Jianguo Head for financial affairs: Tang Xiaoping
Head of the financial department: Qiao Yanjun
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2019 Q3 2018
1. Operating revenue 457189896.78 14863056.88
Less: Cost of sales 68196735.27 6069598.33
Taxes and surcharges 230200579.16 1897242.49
Selling expense 24802601.53 456770.95
Administrative expense 5178201.72 3578442.56
R&D expense 0.00 0.00
Finance costs -13883609.15 -14104390.04
Including: Interest expense 434797.18
Interest income 9068023.21 7303315.43
Add: Other income 0.00 0.00
Investment income (“-” for loss) -373119.67 0.00
Including: Share of profit or loss
of joint ventures and associates
0.00 0.00
Derecognition income of
financial assets measured at amortized
cost
0.00 0.00
Net gain on exposure hedges (“-”
for loss)
0.00 0.00
Gain on changes in fair value (“-”
for loss)
0.00 0.00
Credit impairment loss (“-” for
loss)
0.00 0.00
Assets impairment loss (“-” for
loss)
0.00 0.00
Asset disposal income (“-” for
loss)
0.00 -13299.25
2. Operating profit (“-” for loss) 142322268.58 16952093.34
Add: Non-operating income 418858.34 0.04
Less: Non-operating expense 30000.00 86700.75
3. Profit before tax (“-” for loss) 142711126.92 16865392.63
Less: Income tax expense 35721721.55 4252167.10
4. Net profit (“-” for net loss) 106989405.37 12613225.53
4.1 Net profit from continuing
operations (“-” for net loss)
106989405.37 12613225.53
4.2 Net profit from discontinued
operations (“-” for net loss)
0.00 0.00
5. Other comprehensive income net of
tax
0.00 0.00
5.1 Items that will not be reclassified
to profit or loss
0.00 0.00
5.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
0.00 0.00
5.1.2 Other comprehensive income
that will not be reclassified to profit or
loss under the equity method
0.00 0.00
5.1.3 Changes in the fair value of
investments in other equity instruments
0.00 0.00
5.1.4 Changes in the fair value of
the company’s credit risks
0.00 0.00
5.1.5 Other 0.00 0.00
5.2 Items that may subsequently be
reclassified to profit or loss
0.00 0.00
5.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss
under equity method
0.00 0.00
5.2.2 Changes in the fair value of
investments in other debt obligations
0.00 0.00
5.2.3 Gain/Loss on changes in the
fair value of available-for-sale financial
assets
0.00 0.00
5.2.4 Other comprehensive income
arising from the reclassification of
financial assets
0.00 0.00
5.2.5 Gain/Loss arising from the
reclassification of held-to-maturity
investments to available-for-sale
financial assets
0.00 0.00
5.2.6 Allowance for credit
impairments in investments in other
debt obligations
0.00 0.00
5.2.7 Reserve for cash flow hedges 0.00 0.00
5.2.8 Differences arising from the
translation of foreign
currency-denominated financial
statements
0.00 0.00
5.2.9 Other 0.00 0.00
6. Total comprehensive income 106989405.37 12613225.53
7. Earnings per share
7.1 Basic earnings per share 0.1058 0.0125
7.2 Diluted earnings per share 0.1058 0.0125
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Revenue 1903499558.55 1600129891.28
Including: Operating revenue 1903499558.55 1600129891.28
Interest income
Premium income
Handling charge and
commission income
2. Operating costs and expenses 1328285886.90 1098971752.95
Including: Cost of sales 663054001.03 706745121.38
Interest expense
Handling charge and
commission expense
Surrenders
Net claims paid
Net amount provided as
policy reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and surcharges 582491558.12 316767417.97
Selling expense 49974829.49 41241971.51
Administrative expense 43148643.34 44506615.17
R&D expense
Finance costs -10383145.08 -10289373.08
Including: Interest
expense
3817172.20
Interest
income
10790216.10 14324520.82
Add: Other income
Investment income (“-” for loss) 13914978.88 827100.00
Including: Share of profit or loss
of joint ventures and associates
Derecognition income of
financial assets measured at amortized
cost
Foreign exchange gain (“-” for
loss)
-351902.84 521899.87
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
for loss)
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
loss)
Asset disposal income (“-” for
loss)
-8109.05 -19206.48
3. Operating profit (“-” for loss) 588768638.64 502487931.72
Add: Non-operating income 1178801.30 517741.45
Less: Non-operating expense 111056.49 351137.06
4. Profit before tax (“-” for loss) 589836383.45 502654536.11
Less: Income tax expense 150296868.50 128627618.11
5. Net profit (“-” for net loss) 439539514.95 374026918.00
5.1 By operating continuity (“-” for net
loss)
5.1.1 Net profit from continuing
operations (“-” for net loss)
439539514.95 374026918.00
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
owners of the Company as the parent
439517499.40 374000365.53
5.2 2. Net profit attributable to
non-controlling interests
22015.55 26552.47
6. Other comprehensive income net of
tax
-2384296.08 -3821947.76
Attributable to owners of the Company
as the parent
-1669007.26 -2675363.43
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
6.1.2 Share of other
comprehensive income of investees that
will not be reclassified to profit or loss
under equity method
6.1.3 Changes in the fair value of
investments in other equity instruments
6.1.4 Changes in the fair value of
the company’s credit risks
6.1.5 Other
6.2 Items that may subsequently be
reclassified to profit or loss
-1669007.26 -2675363.43
6.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss under
equity method
6.2.2 Changes in the fair value of
investments in other debt obligations
6.2.3 Gain/Loss on changes in fair
value of available-for-sale financial
assets
6.2.4. Other comprehensive
income arising from the reclassification
of financial assets
6.2.5 Gain/Loss arising from
reclassification of held-to-maturity
investments to available-for-sale financial
assets
6.2.6 Allowance for credit
impairments in investments in other debt
obligations
6.2.7 Reserve for cash flow
hedges
6.2.8 Differences arising from
translation of foreign
currency-denominated financial
statements
-1669007.26 -2675363.43
6.2.9 Other
Attributable to non-controlling
interests
-715288.82 -1146584.33
7. Total comprehensive income 437155218.87 370204970.24
Attributable to owners of the Company
as the parent
437848492.14 371325002.10
Attributable to non-controlling
interests
-693273.27 -1120031.86
8. Earnings per share
8.1 Basic earnings per share 0.4345 0.3697
8.2 Diluted earnings per share 0.4345 0.3697
Where business combinations under common control occurred in the current period the net profit achieved by the acquirees before
the combinations was RMB0.00 with the amount for the same period of last year being RMB0.00.Legal representative: Zhou Jianguo Head for financial affairs: Tang Xiaoping
Head of the financial department: Qiao Yanjun
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Operating revenue 1285592972.89 44850524.39
Less: Cost of sales 193563436.58 18653268.07
Taxes and surcharges 535792470.89 5552046.60
Selling expense 37021750.96 1364929.87
Administrative expense 18171868.82 14472955.77
R&D expense
Finance costs -30376728.80 -37598949.66
Including: Interest expense 2163250.22
Interest income 26525418.74 31630411.09
Add: Other income
Investment income (“-” for loss) 532615110.52 827100.00
Including: Share of profit or
loss of joint ventures and associates
Derecognition income of
financial assets measured at amortized
cost
Net gain on exposure hedges
(“-” for loss)
Gain on changes in fair value
(“-” for loss)
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
loss)
Asset disposal income (“-” for
loss)
-13299.25
2. Operating profit (“-” for loss) 1064035284.96 43220074.49
Add: Non-operating income 548037.48 34352.63
Less: Non-operating expense 30000.00 230000.00
3. Profit before tax (“-” for loss) 1064553322.44 43024427.12
Less: Income tax expense 136312932.72 10590853.86
4. Net profit (“-” for net loss) 928240389.72 32433573.26
4.1 Net profit from continuing
operations (“-” for net loss)
928240389.72 32433573.26
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income net of
tax
5.1 Items that will not be reclassified
to profit or loss
5.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
5.1.2 Share of other
comprehensive income of investees that
will not be reclassified to profit or loss
under equity method
5.1.3 Changes in the fair value of
investments in other debt obligations
5.1.4 Changes in the fair value of
the company’s credit risks
5.1.5 Other
5.2 Items that may subsequently be
reclassified to profit or loss
5.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss
under equity method
5.2.2 Changes in the fair value of
investments in other debt obligations
5.2.3 Gain/Loss on changes in fair
value of available-for-sale financial
assets
5.2.4 Other comprehensive income
arising from the reclassification of
financial assets
5.2.5 Gain/Loss arising from
reclassification of held-to-maturity
investments to available-for-sale
financial assets
5.2.6 Allowance for credit
impairments in investments in other
debt obligations
5.2.7 Reserve for cash flow hedges
5.2.8 Differences arising from
translation of foreign
currency-denominated financial
statements
5.2.9 Other
6. Total comprehensive income 928240389.72 32433573.26
7. Earnings per share
7.1 Basic earnings per share 0.9175 0.0321
7.2 Diluted earnings per share 0.9175 0.0321
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
2212532294.20 1605041920.88
Net increase in customer deposits and
interbank deposits
Net increase in borrowings from
central bank
Net increase in loans from other
financial institutions
Premiums received on original
insurance contracts
Net proceeds from reinsurance
Net increase in deposits and
investments of policy holders
Interest handling charges and
commissions received
Net increase in interbank loans
obtained
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Tax rebates 39473.00 76431.00
Cash generated from other operating
activities
62546726.84 59337154.87
Subtotal of cash generated from
operating activities
2275118494.04 1664455506.75
Payments for commodities and
services
503898254.63 558011313.21
Net increase in loans and advances to
customers
Net increase in deposits in central
bank and in interbank loans granted
Payments for claims on original
insurance contracts
Net increase in interbank loans
granted
Interest handling charges and
commissions paid
Policy dividends paid
Cash paid to and for employees 106766698.72 97813296.51
Taxes paid 522837883.22 241207281.47
Cash used in other operating
activities
99699978.18 102625183.85
Subtotal of cash used in operating
activities
1233202814.75 999657075.04
Net cash generated from/used in
operating activities
1041915679.29 664798431.71
2. Cash flows from investing activities:
Proceeds from disinvestment 900000000.00
Investment income 11365734.25 827100.00
Net proceeds from disposal of fixed
assets intangible assets and other
long-lived assets
118900.00
Net proceeds from disposal of
subsidiaries or other business units
Cash generated from other investing
activities
Subtotal of cash generated from
investing activities
911484634.25 827100.00
Payments for acquisition of fixed 138768.93 290565.47
assets intangible assets and other
long-lived assets
Payments for investments
Net increase in pledged loans granted
Net payments for acquisition of
subsidiaries and other business units
Cash used in other investing
activities
1300000000.00 600000000.00
Subtotal of cash used in investing
activities
1300138768.93 600290565.47
Net cash generated from/used in
investing activities
-388654134.68 -599463465.47
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Increase in borrowings obtained 2000000.00
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
0.00 2000000.00
Repayment of borrowings 2000000.00 135786600.00
Payments for interest and dividends 202332000.00 2340457.86
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing
activities
Subtotal of cash used in financing
activities
204332000.00 138127057.86
Net cash generated from/used in
financing activities
-204332000.00 -136127057.86
4. Effect of foreign exchange rate
changes on cash and cash equivalents
-459655.67 366593.43
5. Net increase in cash and cash
equivalents
448469888.94 -70425498.19
Add: Cash and cash equivalents
beginning of the period
1148522435.93 1265767290.57
6. Cash and cash equivalents end of the
period
1596992324.87 1195341792.38
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
1469696209.60 50519310.84
Tax rebates 39473.00 76431.00
Cash generated from other operating
activities
29139180.19 558131067.59
Subtotal of cash generated from
operating activities
1498874862.79 608726809.43
Payments for commodities and
services
76648788.23 98788937.22
Cash paid to and for employees 27909601.83 23664067.51
Taxes paid 258333159.45 19277387.12
Cash used in other operating
activities
4324652.42 49597541.55
Subtotal of cash used in operating
activities
367216201.93 191327933.40
Net cash generated from/used in
operating activities
1131658660.86 417398876.03
2. Cash flows from investing activities:
Proceeds from disinvestment 900000000.00
Investment income 142838563.97 827100.00
Net proceeds from disposal of fixed
assets intangible assets and other
long-lived assets
Net proceeds from disposal of
subsidiaries or other business units
Cash generated from other investing
activities
Subtotal of cash generated from
investing activities
1042838563.97 827100.00
Payments for acquisition of fixed
assets intangible assets and other
long-lived assets
65810.00 119374.00
Payments for investments
Net payments for acquisition of
subsidiaries and other business units
Cash used in other investing 1300000000.00 600000000.00
activities
Subtotal of cash used in investing
activities
1300065810.00 600119374.00
Net cash generated from/used in
investing activities
-257227246.03 -599292274.00
3. Cash flows from financing activities:
Capital contributions received
Increase in borrowings obtained
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
Repayment of borrowings 114886600.00
Payments for interest and dividends 202332000.00 1883272.84
Cash used in other financing
activities
Subtotal of cash used in financing
activities
202332000.00 116769872.84
Net cash generated from/used in
financing activities
-202332000.00 -116769872.84
4. Effect of foreign exchange rate
changes on cash and cash equivalents
-676807.86 -13487.07
5. Net increase in cash and cash
equivalents
671422606.97 -298676757.88
Add: Cash and cash equivalents
beginning of the period
444486378.53 726801673.89
6. Cash and cash equivalents end of the
period
1115908985.50 428124916.01
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Execution of any New Standards
Governing Financial Instruments Revenue or Leases from 2019
□ Applicable √ Not applicable
2. Retrospective Restatement of Previous Comparative Data due to the Execution of any New Standards
Governing Financial Instruments or Leases from 2019
□ 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.
沪公网安备31011802005267号
