FinancialStatements
I.Auditreport
| Typeofauditopinion | Standardandunqualifiedopinion |
| Signingdateoftheauditreport | March27,2026 |
| Nameofauditinstitution | GrantThorntonZhitongCertifiedPublicAccountantsLLP |
| AuditreportNo. | ZTSZ(2026)No.441A004386 |
| Nameofcertifiedpublicaccountant | ZHAOJuanjuan,ZHOUYilan |
MainBodyoftheAuditReport
ZTSZ(2026)No.441A004386ToallshareholdersofShenzhenProperties&ResourcesDevelopment(Group)Ltd.:
I.AuditopinionsWehaveauditedthefinancialstatementsofShenzhenProperties&ResourcesDevelopment(Group)Ltd.(hereinafterreferredtoasthe"SZPRD"),includingtheconsolidatedandtheCompany'sbalancesheetasatDecember31,2025,theconsolidatedandtheCompany'sincomestatement,theconsolidatedandtheCompany'sstatementofcashflows,theconsolidatedandtheCompany'sstatementofchangesinshareholders'equityandrelatednotestothefinancialstatementsfortheyearthenended.Inouropinion,theattachedfinancialstatementsareprepared,inallmaterialrespects,inaccordancewiththeAccountingStandardsforBusinessEnterprises,andfairlypresenttheconsolidatedandtheCompany'sfinancialpositionofSZPRDasatDecember31,2025andtheconsolidatedandtheCompany'soperatingresultsandcashflowsfortheyearthenended.II.BasisfortheauditopinionWehaveconductedourauditinaccordancewiththeChineseAuditingStandardsforCertifiedPublicAccountants.Ourresponsibilitiesunderthesestandardsarefurtherdescribedinthe"CertifiedPublicAccountant'sResponsibilitiesfortheAuditofFinancialStatements"sectionoftheauditreport.InaccordancewiththeCodeofEthicsforChineseCertifiedPublicAccountantsandtheIndependenceStandardforChineseCertifiedPublicAccountants-RequirementsforIndependenceofPublicInterestEntities,weareindependentofSZPRDandhavefulfilledotherethicalresponsibilities.Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.III.KeyauditmattersKeyauditmattersarethosemattersthat,inourprofessionaljudgment,areofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesemattersareaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.(I)RecognitionandmeasurementofrealestatesalesrevenueTherelevantdisclosuresaredetailedinNotesIII(26)andV(41)totheFinancialStatements.
1.Eventdescription
In2025,SZPRD'srealestatesalesrevenuewasRMB534million.SZPRDrecognizestherevenuewhentherealestatemeetsthedeliveryconditionsstipulatedinthecontractandtheownerobtainstherightofcontroltotherelevantrealestate.Duetothelargeamountofasingleproperty,realestatesalesrevenuehasasignificantimpactonSZPRD'soperatingresults.InaccuratemeasurementorrecognitioninaninappropriateaccountingperiodwouldhaveamaterialimpactonSZPRD'sprofit.Therefore,wehaveidentifiedtherecognitionandmeasurementofrealestatesalesrevenueasakeyauditmatter.
2.AuditresponseInresponsetotherecognitionandmeasurementofrealestatesalesrevenue,wemainlyperformedthefollowingauditprocedures:
(1)Understand,evaluateandtestthedesignandoperatingeffectivenessofkeyinternalcontrolsrelatedtotherealestatesalesbusiness;
(2)Sampletherealestatesalescontracts,identifythecontracttermsandconditionsrelatedtothetransferofcontrol,andevaluatewhetherSSZPRD'saccountingpolicyforrealestatesalesrevenuerecognitioncomplieswiththeprovisionsoftheAccountingStandardsforBusinessEnterprises;
(3)Forprojectswithrealestatesalesrevenuerecognizedinthecurrentyear,selectsamplesandcheckthesupportingdocumentsforpropertydeliverytoevaluatewhethertherecognitionofrealestatesalesrevenueisconsistentwithSZPRD'srevenuerecognitionaccountingpolicy;
(4)Performanalyticalproceduresonrealestatesalesrevenue,compareitwiththesameperiodinpreviousyearsandwiththeindustry,analyzechangesinrevenueandgrossprofitmargin,andassessthereasonablenessofthechanges;
(5)Performcut-offtestsontherecognitionofrealestatesalesrevenuetoevaluatewhethertherealestatesalesrevenuewasrecordedintheappropriateaccountingperiod.(II)Provisionforinventorywrite-downTherelevantdisclosuresaredetailedinNotesIII(13)andV(6)totheFinancialStatements.
1.EventdescriptionAsofDecember31,2025,thecarryingamountofSZPRD'sdevelopmentcostsandcompletedpropertiesheldforsale(hereinaftercollectivelyreferredtoas"inventories")wasRMB12.331billion,withawrite-downprovisionofRMB1.228billionandacarryingvalueofRMB11.102billion,accountingfor71.96%oftotalassets;Theinventoriesaremeasuredatthelowerofcostandnetrealizablevalue.TheSZPRDmanagement(hereinafterreferredtoastheManagement)determinesthenetrealizablevaluebytheestimatedsellingpriceoftherelevantfinishedproductsminustheestimatedcosttobeincurreduntilcompletion,estimatedsellinganddistributionexpensesandrelevanttaxes.Duetothesignificantamountofinventoriesandthesignificantmanagementjudgmentinvolvedindeterminingthenetrealizablevalueofinventories,wehaveidentifiedtheprovisionforinventorydepreciationofSZPRDasakeyauditmatter.
2.AuditresponseInresponsetotheprovisionforinventorydepreciation,wemainlyperformedthefollowingauditprocedures:
(1)Understand,evaluate,andtestthedesignandoperatingeffectivenessofkeyinternalcontrolsrelatedtotheprovisionforinventorydepreciation;
(2)Selectsamples,observetheinventoryprojectsonsite,andinquirewiththemanagementabouttheprogressoftheinventoryprojects;
(3)Evaluatedthevaluationmethodadoptedbythemanagement,andcomparedthekeyestimatesandassumptionsusedinthevaluation,includingkeyestimatesandassumptionsrelatedtotheestimatedsellingprice,withpubliclyavailablemarketdataandsalesbudgets;
(4)Obtainthenetrealizablevaluecalculationsheetspreparedbythemanagementandrecalculatetheamountofnetrealizablevalue;
(5)Reviewtheinventoryimpairmenttestreportsissuedbythird-partyvaluationexpertsengagedbythemanagementforsignificantprojectsthroughtheworkofourinternalvaluationexperts;
(6)Evaluatetheobjectivity,independenceandprofessionalcompetenceofthethird-partyvaluationexpertsandourinternalvaluationexperts.IV.OtherinformationThemanagementofSZPRDisresponsibleforotherinformation.Otherinformationincludesinformationcoveredinthe2025AnnualReportofSZPRD,butexcludesthefinancialstatementsandourauditreport.Ourauditopiniononthefinancialstatementsdoesnotcovertheotherinformationandwedonotexpressanyformofassuranceconclusionthereon.Inconnectionwithourauditoffinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoingso,considerwhethertheotherinformationismateriallyinconsistentwithfinancialstatementsorourknowledgeobtainedduringtheauditorotherwiseappearstobemateriallymisstated.If,basedontheworkwehaveperformed,weconcludethatthereisamaterialmisstatementoftheotherinformation,wearerequiredtoreportthatfact.Wehavenothingtoreportinthisregard.IV.ResponsibilitiesofthemanagementandthosechargedwithgovernanceforfinancialstatementsThemanagementofSZPRDisresponsibleforpreparingthefinancialstatementsinaccordancewiththerequirementsofAccountingStandardsforBusinessEnterprisestoachieveafairpresentation,andfordesigning,implementingandmaintaininginternalcontrolthatisnecessarytoensurethatthefinancialstatementsarefreefrommaterialmisstatements,whetherduetofraudsorerrors.Inpreparingthefinancialstatements,themanagementisresponsibleforassessingthegoing-concernabilityofSZPRD,disclosingmattersrelatedtogoingconcern(ifapplicable)andapplyingthegoingconcernbasis,unlessthemanagementplanstoliquidateSZPRD,terminateitsoperationsorhasnootherrealisticalternative.ThosechargedwithgovernanceareresponsibleforoverseeingthefinancialreportingprocessofSZPRD.VI.ResponsibilitiesofcertifiedpublicaccountantsfortheauditoffinancialstatementsOurobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewiththeauditstandardswillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorinaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.Wehaveexercisedprofessionaljudgmentandmaintainedprofessionalskepticisminperformingourauditundertheauditingstandards.Atthesametime,wealsoimplementthefollowingwork:
(1)Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,designandperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnot
detectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery,intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.
(2)Understandtheinternalcontrolrelatedtoauditingasawaytodesignappropriateauditprocedures.
(3)EvaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebytheManagement.
(4)ConcludeontheappropriatenessoftheManagement'suseofthegoingconcernbasisofaccounting.Atthesametime,basedontheauditevidenceobtained,aconclusionisdrawnastowhetherthereisamaterialuncertaintyineventsorcircumstancesthatmaygiverisetosignificantdoubtaboutthegoing-concernabilityofSZPRD.Ifweconcludethatamaterialuncertaintyexists,wearerequiredto,inourauditreport,drawattentionoftheusersofstatementstotherelateddisclosuresinthefinancialstatements;ifsuchdisclosuresareinadequate,weshouldmodifyouropinion.Ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditreport.However,futureeventsorcircumstancesmaycauseSZPRDtoceasetocontinueasagoingconcern.
(5)Evaluatetheoverallpresentation,structureandcontentofthefinancialstatements,andwhetherthefinancialstatementsfairlyreflecttherelevanttransactionsandevents.
(6)ObtainsufficientandappropriateauditevidenceregardingthefinancialinformationoftheentitiesorbusinessactivitieswithinSZPRDtoexpressanopiniononthefinancialstatements.Weareresponsibleforthedirection,supervisionandperformanceofthegroupaudit.Weremainsolelyresponsibleforourauditopinion.Wecommunicatewiththosechargedwithgovernanceregardingtheplannedscopeandtimingoftheaudit,significantauditfindingsandothermatters,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andtocommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.Fromthematterscommunicatedwiththosechargedwithgovernance,wedeterminethosemattersthatwereofmostsignificanceintheauditofthefinancialstatementsofthisperiodandarethereforethekeyauditmatters.Wedescribethesemattersintheauditreportunlesslawsandregulationsprohibitpublicdisclosureofthesematters,orinextremelyrarecircumstances,ifitisreasonablyexpectedthatthenegativeconsequencesofcommunicatingamatteroutweighthebenefitstothepublicinterestintheauditreport,wedeterminenottodoso.
| GrantThorntonZhitongCertifiedPublicAccountantsLLP(SpecialGeneralPartnership) | CertifiedPublicAccountantofChina(Engagementpartner)CertifiedPublicAccountantofChina | ZhaoJuanjuanZhouYilan |
| Beijing,China | March27,2026 | |
II.FinancialstatementsTheunitinthenotestothefinancialstatementsis:RMB
1.ConsolidatedbalancesheetPreparedby:ShenzhenProperties&ResourcesDevelopment(Group)Ltd.
December31,2025
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Currentassets: | ||
| Monetaryfunds | 2,124,343,056.19 | 1,678,116,644.12 |
| Balanceswithclearingcompanies | ||
| Loanstobanksandotherfinancialinstitutions | ||
| Financialassetsheldfortrading | 301,765,714.20 | 0.00 |
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 417,784,270.44 | 476,014,729.60 |
| Receivablesfinancing | ||
| Advancestosuppliers | 9,538,231.89 | 7,789,173.69 |
| Premiumsreceivable | ||
| Reinsuranceaccountsreceivable | ||
| Provisionofcessionreceivable | ||
| Otherreceivables | 267,565,109.11 | 273,333,289.51 |
| Including:interestreceivable | ||
| Dividendsreceivable | ||
| Financialassetspurchasedunderresaleagreements | ||
| Inventories | 11,103,909,470.05 | 10,685,045,153.41 |
| Including:dataresources | ||
| Contractassets | 580,850.15 | 468,765.62 |
| Assetsheldforsale | 0.00 | 170,154.05 |
| Non-currentassetsmaturingwithinoneyear | ||
| Othercurrentassets | 210,498,041.00 | 181,721,113.82 |
| Totalcurrentassets | 14,435,984,743.03 | 13,302,659,023.82 |
| Non-currentassets: | ||
| Loansandadvances | ||
| Debtinvestments | ||
| Otherdebtinvestments | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 269,002,577.39 | 268,187,805.52 |
| Item | Endingbalance | Beginningbalance |
| Otherequityinstrumentinvestments | 567,317.70 | 586,231.82 |
| Othernon-currentfinancialassets | ||
| Investmentproperties | 398,400,543.06 | 374,035,893.07 |
| Fixedassets | 41,751,582.46 | 52,712,396.64 |
| Constructioninprogress | ||
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useassets | 22,450,067.81 | 16,967,620.03 |
| Intangibleassets | 2,155,206.62 | 471,565.39 |
| Including:dataresources | ||
| Developmentexpenses | ||
| Including:dataresources | ||
| Goodwill | 4,441,864.30 | 9,446,847.38 |
| Long-termdeferredexpenses | 15,046,783.07 | 22,110,090.13 |
| Deferredtaxassets | 212,669,324.77 | 1,232,152,522.89 |
| Othernon-currentassets | 25,657,943.53 | 13,875,501.61 |
| Totalnon-currentassets | 992,143,210.71 | 1,990,546,474.48 |
| Totalassets | 15,428,127,953.74 | 15,293,205,498.30 |
| Currentliabilities: | ||
| Short-termborrowings | 449,458,211.11 | 190,165,458.33 |
| Borrowingsfromcentralbank | ||
| Loansfrombanksandotherfinancialinstitutions | ||
| Financialliabilitiesheldfortrading | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 875,642,952.68 | 1,043,092,277.27 |
| Advancesfromcustomers | 1,340,490.69 | 1,744,526.75 |
| Contractliabilities | 711,605,295.76 | 336,164,629.72 |
| Financialassetssoldunderrepurchaseagreements | ||
| Absorptionofdepositsandinterbankdeposits | ||
| Receivingsfromvicariouslytradedsecurities | ||
| Receivingsfromvicariouslysoldsecurities | ||
| Employeecompensationpayable | 175,823,121.63 | 207,978,691.61 |
| Taxespayable | 78,010,841.03 | 3,224,280,429.52 |
| Otherpayables | 1,201,487,757.46 | 1,231,351,436.38 |
| Including:interestpayable | ||
| Dividendspayable | 12,202,676.04 | 12,202,676.04 |
| Item | Endingbalance | Beginningbalance |
| Handlingservicefeeandcommissions | ||
| Reinsuranceaccountspayable | ||
| Liabilitiesheldforsale | ||
| Non-currentliabilitiesmaturingwithinoneyear | 3,865,235,312.29 | 506,702,676.30 |
| Othercurrentliabilities | 58,886,145.36 | 23,186,263.57 |
| Totalcurrentliabilities | 7,417,490,128.01 | 6,764,666,389.45 |
| Non-currentliabilities: | ||
| Reservesforinsurancecontracts | ||
| Long-termborrowings | 3,681,594,912.20 | 4,755,314,631.26 |
| Bondspayable | 548,236,650.58 | 0.00 |
| Including:preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 10,602,827.46 | 11,089,072.57 |
| Long-termpayables | 399,470,977.78 | 399,749,550.00 |
| Long-termemployeecompensationspayable | ||
| Estimatedliabilities | 973,741.21 | 934,205.51 |
| Deferredincome | ||
| Deferredtaxliabilities | 5,972,301.83 | 4,100,164.35 |
| Othernon-currentliabilities | 129,540,497.60 | 126,919,529.02 |
| Totalnon-currentliabilities | 4,776,391,908.66 | 5,298,107,152.71 |
| Totalliabilities | 12,193,882,036.67 | 12,062,773,542.16 |
| Owners'equity: | ||
| Equity | 595,979,092.00 | 595,979,092.00 |
| Otherequityinstruments | ||
| Including:preferredshares | ||
| Perpetualbonds | ||
| Capitalreserve | 80,488,045.38 | 80,488,045.38 |
| Less:treasuryshares | ||
| Othercomprehensiveincome | -3,587,793.95 | -2,200,355.67 |
| Specialreserves | ||
| Surplusreserves | 298,354,949.13 | 125,425,488.21 |
| Generalriskreserves | ||
| Undistributedprofits | 2,423,699,479.79 | 2,561,990,778.58 |
| Totalequityattributabletoownersoftheparentcompany | 3,394,933,772.35 | 3,361,683,048.50 |
| Minorityinterests | -160,687,855.28 | -131,251,092.36 |
| Totalowners'equity | 3,234,245,917.07 | 3,230,431,956.14 |
| Totalliabilitiesandowners'equity | 15,428,127,953.74 | 15,293,205,498.30 |
Legalrepresentative:TANGXiaopingChiefFinanceOfficer:LIUQiangChiefAccountant:CAIKelin
2.Balancesheetoftheparentcompany
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Currentassets: | ||
| Monetaryfunds | 957,782,627.13 | 542,921,067.03 |
| Financialassetsheldfortrading | 301,765,714.20 | |
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 15,245,148.12 | 112,869,081.78 |
| Receivablesfinancing | ||
| Advancestosuppliers | 60,000.00 | |
| Otherreceivables | 8,481,001,540.48 | 4,279,938,165.85 |
| Including:interestreceivable | ||
| Dividendsreceivable | ||
| Inventories | 48,516,226.68 | 50,862,399.82 |
| Including:dataresources | ||
| Contractassets | ||
| Assetsheldforsale | ||
| Non-currentassetsmaturingwithinoneyear | ||
| Othercurrentassets | 5,034,539.25 | 4,459,085.14 |
| Totalcurrentassets | 9,809,405,795.86 | 4,991,049,799.62 |
| Non-currentassets: | ||
| Debtinvestments | ||
| Otherdebtinvestments | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 1,147,285,418.20 | 1,558,679,206.62 |
| Otherequityinstrumentinvestments | 797,817.70 | 816,731.82 |
| Othernon-currentfinancialassets | ||
| Investmentproperties | 272,059,658.53 | 233,185,594.71 |
| Fixedassets | 6,366,246.07 | 12,189,961.87 |
| Constructioninprogress | ||
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useassets | 1,268,784.23 | 4,369,643.63 |
| Intangibleassets | 3,103,333.25 | 3,495,333.29 |
| Including:dataresources | ||
| Developmentexpenses | ||
| Including:dataresources | ||
| Goodwill | ||
| Long-termdeferredexpenses |
| Deferredtaxassets | 17,309,558.09 | 4,486,334.83 |
| Othernon-currentassets | 3,300,873.08 | 3,167,926,650.86 |
| Totalnon-currentassets | 1,451,491,689.15 | 4,985,149,457.63 |
| Totalassets | 11,260,897,485.01 | 9,976,199,257.25 |
| Currentliabilities: | ||
| Short-termborrowings | ||
| Financialliabilitiesheldfortrading | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 41,937,990.47 | 56,048,131.44 |
| Advancesfromcustomers | ||
| Contractliabilities | 211,776.20 | 761,904.76 |
| Employeecompensationpayable | 33,871,190.21 | 51,619,107.46 |
| Taxespayable | 2,538,236.38 | 2,376,003.37 |
| Otherpayables | 4,022,493,099.09 | 6,853,403,083.89 |
| Including:interestpayable | ||
| Dividendspayable | 29,642.40 | 29,642.40 |
| Liabilitiesheldforsale | ||
| Non-currentliabilitiesmaturingwithinoneyear | 87,556,316.90 | 402,621,528.39 |
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 4,188,608,609.25 | 7,366,829,759.31 |
| Non-currentliabilities: | ||
| Long-termborrowings | 1,473,800,000.00 | |
| Bondspayable | 548,236,650.58 | |
| Including:preferredshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 970,553.91 | 3,082,216.96 |
| Long-termpayables | 399,470,977.78 | 399,749,550.00 |
| Long-termemployeecompensationspayable | ||
| Estimatedliabilities | ||
| Deferredincome | ||
| Deferredtaxliabilities | 758,624.61 | 1,092,410.91 |
| Othernon-currentliabilities | 39,570,000.00 | 40,000,000.00 |
| Totalnon-currentliabilities | 2,462,806,806.88 | 443,924,177.87 |
| Totalliabilities | 6,651,415,416.13 | 7,810,753,937.18 |
| Owners'equity: | ||
| Equity | 595,979,092.00 | 595,979,092.00 |
| Otherequityinstruments | ||
| Including:preferredshares | ||
| Perpetualbonds |
| Capitalreserve | 53,876,380.11 | 53,876,380.11 |
| Less:treasuryshares | ||
| Othercomprehensiveincome | -3,069,250.24 | -3,064,972.70 |
| Specialreserves | ||
| Surplusreserves | 298,354,949.13 | 125,425,488.21 |
| Undistributedprofits | 3,664,340,897.88 | 1,393,229,332.45 |
| Totalowners'equity | 4,609,482,068.88 | 2,165,445,320.07 |
| Totalliabilitiesandowners'equity | 11,260,897,485.01 | 9,976,199,257.25 |
3.Consolidatedincomestatement
Unit:RMB
| Item | Year2025 | Year2024 |
| I.Totaloperatingrevenue | 2,383,288,250.02 | 2,734,158,884.05 |
| Including:operatingrevenue | 2,383,288,250.02 | 2,734,158,884.05 |
| Interestincome | ||
| Premiumsearned | ||
| Revenuefromhandlingservicefeeandcommissions: | ||
| II.Totaloperatingcosts | 2,280,566,036.07 | 2,711,750,583.36 |
| Including:operatingcosts | 1,737,158,721.74 | 2,250,014,088.33 |
| Interestexpenses | ||
| Handlingservicefeeandcommissions | ||
| Surrendervalue | ||
| Netamountofcompensationpayout | ||
| Netprovisionforinsurancecontractliabilities | ||
| Policydividends | ||
| Reinsurancecosts | ||
| Taxesandsurcharges | 122,579,049.67 | 86,911,950.69 |
| Sellinganddistributionexpenses | 64,517,135.81 | 43,995,985.41 |
| G&Aexpenses | 237,736,204.21 | 284,433,101.74 |
| R&Dexpenses | 4,842,422.28 | 5,351,808.44 |
| Financialexpenses | 113,732,502.36 | 41,043,648.75 |
| Including:interestexpenses | 123,346,936.11 | 68,401,770.57 |
| Interestincome | 13,758,946.05 | 31,389,808.25 |
| Plus:otherincome | 14,445,679.86 | 4,561,713.55 |
| Investmentincome("-"forlosses) | 930,705.77 | 185,619,483.06 |
| Including:investmentincomefromassociatesandjointventures | 930,705.77 | 184,223,509.99 |
| Gainsfromderecognitionoffinancialassetsmeasuredatamortizedcosts | ||
| Exchangegains(lossesexpressedwith"-") |
| Item | Year2025 | Year2024 |
| Netexposurehedginggains(lossexpressedwith"-") | ||
| Gainsfromchangesinfairvalue("-"forlosses) | 1,765,714.20 | 0.00 |
| Lossfromcreditimpairment(lossesexpressedwith"-") | -7,297,655.34 | -363,088,397.28 |
| Assetimpairmentloss(lossesexpressedwith"-") | -5,007,842.82 | -1,036,113,360.07 |
| Gainsfromdisposalofassets(lossesexpressedwith"-") | 144,737.35 | 87,845.86 |
| III.Operatingprofit("-"forloss) | 107,703,552.97 | -1,186,524,414.19 |
| Plus:non-operatingrevenue | 15,699,075.70 | 1,067,805.57 |
| Less:non-operatingexpenses | 1,690,452.81 | 8,355,964.49 |
| IV.Totalprofits("-"fortotallosses) | 121,712,175.86 | -1,193,812,573.11 |
| Less:incometaxexpenses | 117,018,828.20 | 93,331,151.00 |
| V.Netprofit("-"fornetloss) | 4,693,347.66 | -1,287,143,724.11 |
| (I)Classifiedbyoperatingsustainability | ||
| 1.Netprofitfromcontinuedoperation(lossesexpressedwith"-") | 4,693,347.66 | -1,287,143,724.11 |
| 2.Netprofitfromdiscontinuedoperations(lossesexpressedwith"-") | 0.00 | 0.00 |
| (II)Classifiedbyownership | ||
| 1.Netprofitattributabletoshareholdersoftheparentcompany | 33,885,110.58 | -1,114,764,922.17 |
| 2.Minorityinterests | -29,191,762.92 | -172,378,801.94 |
| VI.Othercomprehensiveincome,netoftax | -1,387,438.28 | 1,151,982.21 |
| Othercomprehensiveincome,netoftax,attributabletoownersofparentcompany | -1,387,438.28 | 1,151,982.21 |
| (I)Othercomprehensiveincomethatcannotbereclassifiedintoprofitorlosslater | -4,277.54 | -60,387.90 |
| 1.Changesinre-measurementofdefinedbenefitplans | ||
| 2.Othercomprehensiveincomethatcannotbetransferredtoprofitorlossundertheequitymethod | ||
| 3.Changesinfairvalueofotherequityinstrumentinvestments | -4,277.54 | -60,387.90 |
| 4.Changesinfairvalueoftheenterprise'sowncreditrisk | ||
| 5.Others | ||
| (II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | -1,383,160.74 | 1,212,370.11 |
| 1.Othercomprehensiveincomethatcanbetransferredtoprofitorlossundertheequitymethod |
| Item | Year2025 | Year2024 |
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Amountoffinancialassetsreclassifiedandincludedinothercomprehensiveincome | ||
| 4.Provisionforcreditimpairmentofotherdebtinvestments | ||
| 5.Reserveforcashflows | ||
| 6.Differencesarisingfromtranslationofforeign-currencyfinancialstatements | -1,383,160.74 | 1,212,370.11 |
| 7.Others | ||
| Netoftaxofothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 3,305,909.38 | -1,285,991,741.90 |
| Totalcomprehensiveincomeattributabletotheowneroftheparentcompany | 32,497,672.30 | -1,113,612,939.96 |
| Totalcomprehensiveincomeattributabletominorityshareholders | -29,191,762.92 | -172,378,801.94 |
| VIII.Earningspershare | ||
| (I)Basicearningspershare | 0.0569 | -1.8705 |
| (II)Dilutedearningspershare | 0.0569 | -1.8705 |
Incaseofanybusinesscombinationunderthesamecontrolinthecurrentperiod,thenetprofitrealizedbythecombineebeforethecombinationwasRMB,andthenetprofitrealizedbythecombineeinthepreviousperiodwasRMB.Legalrepresentative:TANGXiaopingChiefFinanceOfficer:LIUQiangChiefAccountant:CAIKelin
4.Incomestatementoftheparentcompany
Unit:RMB
| Item | Year2025 | Year2024 |
| I.Operatingrevenue | 72,350,293.77 | 64,213,916.30 |
| Less:operatingcosts | 38,163,396.02 | 47,304,177.17 |
| Taxesandsurcharges | 11,722,187.77 | 5,700,415.15 |
| Sellinganddistributionexpenses | 514,067.37 | 666,120.15 |
| G&Aexpenses | 47,085,515.31 | 84,866,260.13 |
| R&Dexpenses | ||
| Financialexpenses | 41,120,566.27 | 14,386,286.50 |
| Including:interestexpenses | 49,380,252.72 | 34,681,762.07 |
| Interestincome | 11,713,355.19 | 19,113,464.20 |
| Plus:otherincome | 118,648.59 | 176,813.10 |
| Investmentincome("-"forlosses) | 2,893,954,820.65 | 184,223,509.99 |
| Including:investmentincomefromassociatesandjointventures | 930,705.77 | 184,223,509.99 |
| Item | Year2025 | Year2024 |
| Gainsfromderecognitionoffinancialassetsmeasuredbyamortizedcosts(lossesexpressedwith"-") | ||
| Netexposurehedginggains(lossexpressedwith"-") | ||
| Gainsfromchangesinfairvalue("-"forlosses) | 1,765,714.20 | |
| Lossfromcreditimpairment(lossesexpressedwith"-") | 13,320,881.39 | -5,066,946.80 |
| Assetimpairmentloss(lossesexpressedwith"-") | -412,208,560.29 | |
| Gainsfromdisposalofassets(lossesexpressedwith"-") | 65,143.00 | |
| II.Operatingprofits("-"forloss) | 2,430,761,208.57 | 90,624,033.49 |
| Plus:non-operatingrevenue | 2,041,395.78 | 29,599.13 |
| Less:non-operatingexpenses | 494,467.31 | 541,779.71 |
| III.Totalprofit("for"totalloss) | 2,432,308,137.04 | 90,111,852.91 |
| Less:incometaxexpenses | -11,732,889.31 | -3,055,758.39 |
| IV.Netprofit("-"fornetloss) | 2,444,041,026.35 | 93,167,611.30 |
| (I)Netprofitfromcontinuedoperation("-"fornetloss) | 2,444,041,026.35 | 93,167,611.30 |
| (II)Netprofitfromdiscontinuedoperations(lossesexpressedwith"-") | ||
| V.Netoftaxofothercomprehensiveincome | -4,277.54 | -60,387.90 |
| (I)Othercomprehensiveincomethatcannotbereclassifiedintoprofitorlosslater | -4,277.54 | -60,387.90 |
| 1.Changesinre-measurementofdefinedbenefitplans | ||
| 2.Othercomprehensiveincomethatcannotbetransferredtoprofitorlossundertheequitymethod | ||
| 3.Changesinfairvalueofotherequityinstrumentinvestments | -4,277.54 | -60,387.90 |
| 4.Changesinfairvalueoftheenterprise'sowncreditrisk | ||
| 5.Others | ||
| (II)Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | ||
| 1.Othercomprehensiveincomethatcanbetransferredtoprofitorlossundertheequitymethod | ||
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Amountoffinancialassetsreclassifiedandincludedinothercomprehensiveincome | ||
| 4.Provisionforcreditimpairmentof |
| Item | Year2025 | Year2024 |
| otherdebtinvestments | ||
| 5.Reserveforcashflows | ||
| 6.Differencesarisingfromtranslationofforeign-currencyfinancialstatements | ||
| 7.Others | ||
| VI.Totalcomprehensiveincome | 2,444,036,748.81 | 93,107,223.40 |
| VII.Earningspershare | ||
| (I)Basicearningspershare | ||
| (II)Dilutedearningspershare |
5.Consolidatedstatementofcashflows
Unit:RMB
| Item | Year2025 | Year2024 |
| I.Cashflowsfromoperatingactivities: | ||
| Cashreceivedfromsaleofgoodsandrenderingofservices | 3,046,750,524.68 | 2,539,665,135.96 |
| Netincreaseindepositsfromcustomersanddepositswithbanksandotherfinancialinstitutions | ||
| Netincreaseinborrowingsfromcentralbank | ||
| Netincreaseinborrowingsfrombanksandotherfinancialinstitutions | ||
| Cashreceivedfromreceivinginsurancepremiumoforiginalinsurancecontract | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseindepositsandinvestmentsfrompolicyholders | ||
| Cashreceivedfrominterests,handlingservicefeeandcommissions | ||
| Netincreaseinborrowingsfrombanksandotherfinancialinstitutions | ||
| Netincreaseinfundsfromrepurchasebusiness | ||
| Netcashreceivedfromvicariouslytradedsecurities | ||
| Refundsoftaxesandsurchargesreceived | 48,577,303.40 | 25,035,642.09 |
| Othercashreceivedrelatedtooperatingactivities | 246,791,044.92 | 482,860,988.36 |
| Sub-totalofcashinflowsfromoperatingactivities | 3,342,118,873.00 | 3,047,561,766.41 |
| Cashpaidforpurchaseofgoodsandreceiptofservices | 1,535,521,989.53 | 2,085,129,192.68 |
| Netincreaseinloansandadvancesto |
| Item | Year2025 | Year2024 |
| customers | ||
| Netincreaseindepositswithcentralbankandwithbanksandotherfinancialinstitutions | ||
| Cashpaidfororiginalinsurancecontractclaims | ||
| Netincreaseinloanstobanksandotherfinancialinstitutions | ||
| Cashpaidforinterests,handlingservicefeeandcommissions | ||
| Cashpaidforpolicydividends | ||
| Cashpaidtoandonbehalfofemployees | 970,519,239.22 | 967,528,463.67 |
| Cashpaidfortaxesandsurcharges | 2,557,654,917.82 | 1,057,184,197.95 |
| Othercashpaidrelatedtooperatingactivities | 364,492,388.06 | 361,718,086.63 |
| Sub-totalofcashoutflowsfromoperatingactivities | 5,428,188,534.63 | 4,471,559,940.93 |
| Netcashflowsfromoperatingactivities | -2,086,069,661.63 | -1,423,998,174.52 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceivedfromrecoveryofinvestment | 57,412,000.00 | 0.00 |
| Cashreceivedfrominvestmentincome | 115,933.90 | 93,455.02 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | 65,095,861.85 | 55,903,425.50 |
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Othercashreceivedrelatedtoinvestingactivities | ||
| Sub-totalofcashinflowsfrominvestingactivities | 122,623,795.75 | 55,996,880.52 |
| Cashpaidtoacquireandconstructfixedassets,intangibleassetsandotherlong-termassets | 40,433,929.90 | 10,344,411.99 |
| Cashpaidforinvestments | 374,132,898.98 | 57,412,000.00 |
| Netincreaseinpledgeloans | ||
| Netcashpaidtoacquiresubsidiariesandotherbusinessunits | ||
| Othercashpaidrelatedtoinvestingactivities | ||
| Sub-totalofcashoutflowsfrominvestingactivities | 414,566,828.88 | 67,756,411.99 |
| Netcashflowsfromtheinvestingactivities | -291,943,033.13 | -11,759,531.47 |
| III.Cashflowsfromfinancingactivities: | ||
| Cashreceivedfromabsorptionofinvestments | 0.00 | 0.00 |
| Item | Year2025 | Year2024 |
| Including:cashreceivedbysubsidiariesfromabsorptionofinvestmentsofminorityshareholders | 0.00 | 0.00 |
| Cashreceivedfromacquisitionofborrowings | 4,529,513,359.21 | 1,239,948,405.21 |
| Othercashreceivedrelatedtofinancingactivities | 548,981,500.00 | 0.00 |
| Sub-totalofcashinflowsfromfinancingactivities | 5,078,494,859.21 | 1,239,948,405.21 |
| Cashpaidfordebtrepayments | 1,993,287,702.12 | 502,523,324.00 |
| Cashpaidfordistributionofdividendsandprofitsorpaymentofinterests | 238,745,696.53 | 387,842,921.21 |
| Including:dividendsandprofitpaidtominorityshareholdersbysubsidiaries | 245,000.00 | 786,997.48 |
| Othercashpaidrelatedtofinancingactivities | 35,102,444.75 | 37,214,506.73 |
| Sub-totalofcashoutflowsfromfinancingactivities | 2,267,135,843.40 | 927,580,751.94 |
| Netcashflowsfromfinancingactivities | 2,811,359,015.81 | 312,367,653.27 |
| IV.Effectoffluctuationinexchangerateoncashandcashequivalents | -2,100,820.37 | 1,050,801.90 |
| V.Netincreaseincashequivalents | 431,245,500.68 | -1,122,339,250.82 |
| Plus:beginningbalanceofcashequivalents | 1,610,799,884.30 | 2,733,139,135.12 |
| VI.Endingbalanceofcashequivalents | 2,042,045,384.98 | 1,610,799,884.30 |
6.Thestatementofcashflowsoftheparentcompany
Unit:RMB
| Item | Year2025 | Year2024 |
| I.Cashflowsfromoperatingactivities: | ||
| Cashreceivedfromsaleofgoodsandrenderingofservices | 164,421,535.82 | 48,548,339.20 |
| Refundsoftaxesandsurchargesreceived | 0.17 | |
| Othercashreceivedrelatedtooperatingactivities | 4,485,095,195.68 | 1,280,972,888.61 |
| Sub-totalofcashinflowsfromoperatingactivities | 4,649,516,731.50 | 1,329,521,227.98 |
| Cashpaidforpurchaseofgoodsandreceiptofservices | 46,030,223.44 | 54,312,689.07 |
| Cashpaidtoandonbehalfofemployees | 46,663,137.04 | 57,929,002.75 |
| Cashpaidfortaxesandsurcharges | 15,083,901.67 | 81,029,962.82 |
| Othercashpaidrelatedtooperatingactivities | 5,049,030,164.50 | 1,462,259,953.79 |
| Sub-totalofcashoutflowsfromoperatingactivities | 5,156,807,426.65 | 1,655,531,608.43 |
| Netcashflowsfromoperatingactivities | -507,290,695.15 | -326,010,380.45 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceivedfromrecoveryof |
| Item | Year2025 | Year2024 |
| investment | ||
| Cashreceivedfrominvestmentincome | 115,933.90 | 93,455.02 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Othercashreceivedrelatedtoinvestingactivities | ||
| Sub-totalofcashinflowsfrominvestingactivities | 115,933.90 | 93,455.02 |
| Cashpaidtoacquireandconstructfixedassets,intangibleassetsandotherlong-termassets | 35,850,952.43 | 1,251,193.04 |
| Cashpaidforinvestments | 300,000,000.00 | 314,000,000.00 |
| Netcashpaidtoacquiresubsidiariesandotherbusinessunits | ||
| Othercashpaidrelatedtoinvestingactivities | ||
| Sub-totalofcashoutflowsfrominvestingactivities | 335,850,952.43 | 315,251,193.04 |
| Netcashflowsfromtheinvestingactivities | -335,735,018.53 | -315,157,738.02 |
| III.Cashflowsfromfinancingactivities: | ||
| Cashreceivedfromabsorptionofinvestments | ||
| Cashreceivedfromacquisitionofborrowings | 1,600,000,000.00 | |
| Othercashreceivedrelatedtofinancingactivities | 548,981,500.00 | |
| Sub-totalofcashinflowsfromfinancingactivities | 2,148,981,500.00 | |
| Cashpaidfordebtrepayments | 842,400,000.00 | 61,600,000.00 |
| Cashpaidfordistributionofdividendsandprofitsorpaymentofinterests | 28,698,394.20 | 202,467,017.91 |
| Othercashpaidrelatedtofinancingactivities | 19,960,052.10 | 20,629,854.24 |
| Sub-totalofcashoutflowsfromfinancingactivities | 891,058,446.30 | 284,696,872.15 |
| Netcashflowsfromfinancingactivities | 1,257,923,053.70 | -284,696,872.15 |
| IV.Effectoffluctuationinexchangerateoncashandcashequivalents | -36,595.05 | 9,238.09 |
| V.Netincreaseincashequivalents | 414,860,744.97 | -925,855,752.53 |
| Plus:beginningbalanceofcashequivalents | 541,785,486.20 | 1,467,641,238.73 |
| VI.Endingbalanceofcashequivalents | 956,646,231.17 | 541,785,486.20 |
7.Consolidatedstatementsofchangesinowners'equityThecurrentperiod
Unit:RMB
| Item | Year2025 | ||||||||||||||
| Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners'equity | |||||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Generalriskreserves | Undistributedprofits | Others | Sub-total | |||||
| Preferredshares | Perpetualbonds | Others | |||||||||||||
| I.Endingbalancelastyear | 595,979,092.00 | 80,488,045.38 | -2,200,355.67 | 125,425,488.21 | 2,561,990,778.58 | 3,361,683,048.50 | -131,251,092.36 | 3,230,431,956.14 | |||||||
| Plus:changesinaccountingpolicies | |||||||||||||||
| Correctionofpriorperioderrors | |||||||||||||||
| Others | |||||||||||||||
| II.Beginningbalanceasatthebeginningofthisyear | 595,979,092.00 | 80,488,045.38 | -2,200,355.67 | 125,425,488.21 | 2,561,990,778.58 | 3,361,683,048.50 | -131,251,092.36 | 3,230,431,956.14 | |||||||
| III.Changesinamountforthecurrentperiod(decreasesexpressedwith"-") | -1,387,438.28 | 172,929,460.92 | -138,291,298.79 | 33,250,723.85 | -29,436,762.92 | 3,813,960.93 | |||||||||
| (I)Totalcomprehensiveincome | -1,387,438.28 | 33,885,110.58 | 32,497,672.30 | -29,191,762.92 | 3,305,909.38 | ||||||||||
| (II)Capitalcontributedorreducedbyowners | |||||||||||||||
| 1.Ordinarysharescontributedbyowners | |||||||||||||||
| 2.Capitalinvestedbytheholdersofotherequity | |||||||||||||||
| Item | Year2025 | ||||||||||||||
| Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners'equity | |||||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Generalriskreserves | Undistributedprofits | Others | Sub-total | |||||
| Preferredshares | Perpetualbonds | Others | |||||||||||||
| instruments | |||||||||||||||
| 3.Amountsofshare-basedpaymentsrecognizedinowners'equity | |||||||||||||||
| 4.Others | |||||||||||||||
| (III)Profitdistribution | 172,929,460.92 | -172,929,460.92 | 0.00 | -245,000.00 | -245,000.00 | ||||||||||
| 1.Withdrawalofsurplusreserves | 172,929,460.92 | -172,929,460.92 | |||||||||||||
| 2.Withdrawalofgeneralriskreserves | |||||||||||||||
| 3.Profitdistributedtoowners(orshareholders) | -245,000.00 | -245,000.00 | |||||||||||||
| 4.Others | |||||||||||||||
| (IV)Internaltransferofowners'equity | |||||||||||||||
| 1.Conversionofcapitalreservesintopaid-incapital(orsharecapital) | |||||||||||||||
| 2.Conversionofsurplusreservesintopaid-incapital(orsharecapital) | |||||||||||||||
| Item | Year2025 | ||||||||||||||
| Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners'equity | |||||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Generalriskreserves | Undistributedprofits | Others | Sub-total | |||||
| Preferredshares | Perpetualbonds | Others | |||||||||||||
| 3.Surplusreservesoffsettinglosses | |||||||||||||||
| 4.Changesinbenefitplanstransferredtoretainedearnings | |||||||||||||||
| 5.Transferofothercomprehensiveincomeintoretainedearnings | |||||||||||||||
| 6.Others | |||||||||||||||
| (V)Specialreserves | |||||||||||||||
| 1.Withdrawalinthecurrentperiod | |||||||||||||||
| 2.Amountusedinthecurrentperiod | |||||||||||||||
| (VI)Others | 753,051.55 | 753,051.55 | 753,051.55 | ||||||||||||
| IV.Balanceasattheendofthecurrentperiod | 595,979,092.00 | 80,488,045.38 | -3,587,793.95 | 298,354,949.13 | 2,423,699,479.79 | 3,394,933,772.35 | -160,687,855.28 | 3,234,245,917.07 | |||||||
Amountinpreviousperiod
Unit:RMB
| Item | Year2024 | ||||||||||||||
| Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners'equity | |||||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Generalriskreserves | Undistributedprofits | Others | Sub-total | |||||
| Preferredshares | Perpetualbonds | Others | |||||||||||||
| I.Endingbalancelastyear | 595,979,092.00 | 80,488,045.38 | -3,352,337.88 | 116,108,727.08 | 3,872,586,802.17 | 4,661,810,328.75 | 41,914,707.06 | 4,703,725,035.81 | |||||||
| Plus:changesinaccountingpolicies | |||||||||||||||
| Correctionofpriorperioderrors | |||||||||||||||
| Others | |||||||||||||||
| II.Beginningbalanceasatthebeginningofthisyear | 595,979,092.00 | 80,488,045.38 | -3,352,337.88 | 116,108,727.08 | 3,872,586,802.17 | 4,661,810,328.75 | 41,914,707.06 | 4,703,725,035.81 | |||||||
| III.Changesinamountforthecurrentperiod(decreasesexpressedwith"-") | 1,151,982.21 | 9,316,761.13 | -1,310,596,023.59 | -1,300,127,280.25 | -173,165,799.42 | -1,473,293,079.67 | |||||||||
| (I)Totalcomprehensiveincome | 1,151,982.21 | -1,114,764,922.17 | -1,113,612,939.96 | -172,378,801.94 | -1,285,991,741.90 | ||||||||||
| (II)Capitalcontributedorreducedbyowners | |||||||||||||||
| 1.Ordinarysharescontributedbyowners | |||||||||||||||
| 2.Capitalinvestedbytheholdersofotherequityinstruments | |||||||||||||||
| 3.Amountsofshare-basedpaymentsrecognizedin | |||||||||||||||
| Item | Year2024 | ||||||||||||||
| Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners'equity | |||||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Generalriskreserves | Undistributedprofits | Others | Sub-total | |||||
| Preferredshares | Perpetualbonds | Others | |||||||||||||
| owners'equity | |||||||||||||||
| 4.Others | |||||||||||||||
| (III)Profitdistribution | 9,316,761.13 | -195,262,237.83 | -185,945,476.70 | -786,997.48 | -186,732,474.18 | ||||||||||
| 1.Withdrawalofsurplusreserves | 9,316,761.13 | -9,316,761.13 | |||||||||||||
| 2.Withdrawalofgeneralriskreserves | |||||||||||||||
| 3.Profitdistributedtoowners(orshareholders) | -185,945,476.70 | -185,945,476.70 | -786,997.48 | -186,732,474.18 | |||||||||||
| 4.Others | |||||||||||||||
| (IV)Internaltransferofowners'equity | |||||||||||||||
| 1.Conversionofcapitalreservesintopaid-incapital(orsharecapital) | |||||||||||||||
| 2.Conversionofsurplusreservesintopaid-incapital(orsharecapital) | |||||||||||||||
| 3.Surplusreservesoffsettinglosses | |||||||||||||||
| 4.Changesinbenefitplanstransferredtoretainedearnings | |||||||||||||||
| 5.Transferofothercomprehensiv | |||||||||||||||
| Item | Year2024 | ||||||||||||||
| Equityattributabletoownersoftheparentcompany | Minorityinterests | Totalowners'equity | |||||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Generalriskreserves | Undistributedprofits | Others | Sub-total | |||||
| Preferredshares | Perpetualbonds | Others | |||||||||||||
| eincomeintoretainedearnings | |||||||||||||||
| 6.Others | |||||||||||||||
| (V)Specialreserves | |||||||||||||||
| 1.Withdrawalinthecurrentperiod | |||||||||||||||
| 2.Amountusedinthecurrentperiod | |||||||||||||||
| (VI)Others | -568,863.59 | -568,863.59 | -568,863.59 | ||||||||||||
| IV.Balanceasattheendofthecurrentperiod | 595,979,092.00 | 80,488,045.38 | -2,200,355.67 | 125,425,488.21 | 2,561,990,778.58 | 3,361,683,048.50 | -131,251,092.36 | 3,230,431,956.14 | |||||||
8.Statementofchangesinowner'sequityofparentcompanyThecurrentperiod
Unit:RMB
| Item | Year2025 | |||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Undistributedprofits | Others | Totalowners'equity | |||
| Preferredshares | Perpetualbonds | Others | ||||||||||
| I.Endingbalancelastyear | 595,979,092.00 | 53,876,380.11 | -3,064,972.70 | 125,425,488.21 | 1,393,229,332.45 | 2,165,445,320.07 | ||||||
| Plus:changesinaccountingpolicies | ||||||||||||
| Correctionofpriorperioderrors | ||||||||||||
| Others | ||||||||||||
| II.Beginningbalanceasatthebeginningof | 595,979,092.00 | 53,876,380.11 | -3,064,972.70 | 125,425,488.21 | 1,393,229,332.45 | 2,165,445,320.07 | ||||||
| Item | Year2025 | |||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Undistributedprofits | Others | Totalowners'equity | |||
| Preferredshares | Perpetualbonds | Others | ||||||||||
| thisyear | ||||||||||||
| III.Changesinamountforthecurrentperiod(decreasesexpressedwith"-") | -4,277.54 | 172,929,460.92 | 2,271,111,565.43 | 2,444,036,748.81 | ||||||||
| (I)Totalcomprehensiveincome | -4,277.54 | 2,444,041,026.35 | 2,444,036,748.81 | |||||||||
| (II)Capitalcontributedorreducedbyowners | ||||||||||||
| 1.Ordinarysharescontributedbyowners | ||||||||||||
| 2.Capitalinvestedbytheholdersofotherequityinstruments | ||||||||||||
| 3.Amountsofshare-basedpaymentsrecognizedinowners'equity | ||||||||||||
| 4.Others | ||||||||||||
| (III)Profitdistribution | 172,929,460.92 | -172,929,460.92 | ||||||||||
| 1.Withdrawalofsurplusreserves | 172,929,460.92 | -172,929,460.92 | ||||||||||
| 2.Profitdistributedtoowners(orshareholders) | ||||||||||||
| 3.Others | ||||||||||||
| (IV)Internaltransferofowners'equity | ||||||||||||
| 1.Conversionofcapitalreservesintopaid-incapital(orshare | ||||||||||||
| Item | Year2025 | |||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Undistributedprofits | Others | Totalowners'equity | |||
| Preferredshares | Perpetualbonds | Others | ||||||||||
| capital) | ||||||||||||
| 2.Conversionofsurplusreservesintopaid-incapital(orsharecapital) | ||||||||||||
| 3.Surplusreservesoffsettinglosses | ||||||||||||
| 4.Changesinbenefitplanstransferredtoretainedearnings | ||||||||||||
| 5.Transferofothercomprehensiveincomeintoretainedearnings | ||||||||||||
| 6.Others | ||||||||||||
| (V)Specialreserves | ||||||||||||
| 1.Withdrawalinthecurrentperiod | ||||||||||||
| 2.Amountusedinthecurrentperiod | ||||||||||||
| (VI)Others | ||||||||||||
| IV.Balanceasattheendofthecurrentperiod | 595,979,092.00 | 53,876,380.11 | -3,069,250.24 | 298,354,949.13 | 3,664,340,897.88 | 4,609,482,068.88 | ||||||
Amountinpreviousperiod
Unit:RMB
| Item | Year2024 | |||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Undistributedprofits | Others | Totalowners'equity | |||
| Preferredshares | Perpetualbonds | Others | ||||||||||
| I.Endingbalancelastyear | 595,979,092.00 | 53,876,380.11 | -3,004,584.80 | 116,108,727.08 | 1,495,323,958.98 | 2,258,283,573.37 | ||||||
| Plus:changesin | ||||||||||||
| Item | Year2024 | |||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Undistributedprofits | Others | Totalowners'equity | |||
| Preferredshares | Perpetualbonds | Others | ||||||||||
| accountingpolicies | ||||||||||||
| Correctionofpriorperioderrors | ||||||||||||
| Others | ||||||||||||
| II.Beginningbalanceasatthebeginningofthisyear | 595,979,092.00 | 53,876,380.11 | -3,004,584.80 | 116,108,727.08 | 1,495,323,958.98 | 2,258,283,573.37 | ||||||
| III.Changesinamountforthecurrentperiod(decreasesexpressedwith"-") | -60,387.90 | 9,316,761.13 | -102,094,626.53 | -92,838,253.30 | ||||||||
| (I)Totalcomprehensiveincome | -60,387.90 | 93,167,611.30 | 93,107,223.40 | |||||||||
| (II)Capitalcontributedorreducedbyowners | ||||||||||||
| 1.Ordinarysharescontributedbyowners | ||||||||||||
| 2.Capitalinvestedbytheholdersofotherequityinstruments | ||||||||||||
| 3.Amountsofshare-basedpaymentsrecognizedinowners'equity | ||||||||||||
| 4.Others | ||||||||||||
| (III)Profitdistribution | 9,316,761.13 | -195,262,237.83 | -185,945,476.70 | |||||||||
| 1.Withdrawalofsurplusreserves | 9,316,761.13 | -9,316,761.13 | ||||||||||
| 2.Profitdistributedtoowners(orshareholders) | -185,945,476.70 | -185,945,476.70 | ||||||||||
| 3.Others | ||||||||||||
| (IV)Internaltransferofowners'equity | ||||||||||||
| 1.Conversionof | ||||||||||||
| Item | Year2024 | |||||||||||
| Equity | Otherequityinstruments | Capitalreserve | Less:treasuryshares | Othercomprehensiveincome | Specialreserves | Surplusreserves | Undistributedprofits | Others | Totalowners'equity | |||
| Preferredshares | Perpetualbonds | Others | ||||||||||
| capitalreservesintopaid-incapital(orsharecapital) | ||||||||||||
| 2.Conversionofsurplusreservesintopaid-incapital(orsharecapital) | ||||||||||||
| 3.Surplusreservesoffsettinglosses | ||||||||||||
| 4.Changesinbenefitplanstransferredtoretainedearnings | ||||||||||||
| 5.Transferofothercomprehensiveincomeintoretainedearnings | ||||||||||||
| 6.Others | ||||||||||||
| (V)Specialreserves | ||||||||||||
| 1.Withdrawalinthecurrentperiod | ||||||||||||
| 2.Amountusedinthecurrentperiod | ||||||||||||
| (VI)Others | ||||||||||||
| IV.Balanceasattheendofthecurrentperiod | 595,979,092.00 | 53,876,380.11 | -3,064,972.70 | 125,425,488.21 | 1,393,229,332.45 | 2,165,445,320.07 | ||||||
III.CompanyprofileShenzhenProperties&ResourcesDevelopment(Group)Ltd.(hereinafterreferredtoas"theCompany")wasestablishedwiththeapprovaloftheShenzhenMunicipalPeople'sGovernmentofGuangdongProvinceundertheofficialdocumentSFBF[1991]No.831.ItwasrestructuredfromtheformerShenzhenPropertiesDevelopmentGeneralCompanyintoajointstocklimitedcompany,registeredwiththeShenzhenAdministrationforMarketRegulationonJanuary17,1983,andheadquarteredinShenzhen,GuangdongProvince.TheCompanycurrentlyholdsaBusinessLicenseforEnterpriseLegalPersonwiththeregistrationnumber/unifiedsocialcreditcode91440300192174135N,aregisteredcapitalofRMB595,979,092,andatotalof595,979,092shares(withaparvalueofRMB1pershare).Ofwhich,restrictedtradablesharesinclude1,898,306Asharesand0Bshares；unrestrictedtradablesharescomprise526,475,543Asharesand67,605,243Bshares.TheCompany'sshareshavebeenlistedontheShenzhenStockExchangesinceMarch30,1992.TheCompanyoperatesintherealestateindustry.Theprimaryoperatingactivitiesincluderealestatedevelopmentandcommercialpropertysales,constructionandmanagementofcommercialbuildings,propertyleasing,andconstructionsupervision.Domesticcommerceandthesupplyandmarketingindustry(excludingstate-monopolized,exclusivelydistributed,andspeciallycontrolledcommodities).Mainproducts/servicesinclude:developmentandsalesofcommercialresidentialproperties;propertymanagementservice;buildingmaintenance,equipmentmaintenanceforbuildings,landscapingandgardening,andcleaningservices;propertyleasingservices;engineeringsupervision;retailofChinesecuisine,Westerncuisine,alcoholicbeverages,etc.Thefinancialstatementswereapprovedforexternalreleaseatthe5thMeetingofthe11thBoardofDirectorsonMarch27,2026.TheconsolidationscopeoftheCompany'sconsolidatedfinancialstatementsisdeterminedbasedoncontrol,includingthefinancialstatementsoftheCompanyandallitssubsidiaries.AsubsidiaryreferstoanenterpriseorentitycontrolledbytheCompany.Atotalof56subsidiariesareincludedintheconsolidationscopeoftheconsolidatedstatementsduringthecurrentperiod.Fordetailsregardingthescopeofconsolidatedfinancialstatementsanditschanges,refertoNotes9and10tothefinancialstatements.IV.Basisforpreparationoffinancialstatements
1.BasisforpreparationThefinancialstatementsarepreparedonthegoingconcernbasis,reflectingactualtransactionevents,inaccordancewiththerelevantprovisionsoftheAccountingStandardsforBusinessEnterprises,andbasedonthesignificantaccountingpoliciesandaccountingestimatesdescribedbelow.
2.GoingconcernTheCompanyhasnoeventsorconditionsthatraisesignificantdoubtsaboutitsabilitytocontinueasagoing-concernabilityforthetwelvemonthsfollowingtheendofthereportingperiod.V.SignificantaccountingpoliciesandaccountingestimatesTipsofspecificaccountingpoliciesandaccountingestimates:
TheCompany,basedonitsactualproductionandoperationalcharacteristicsandinaccordancewiththerelevantAccountingStandardsforBusinessEnterprises,hasestablishedspecificaccountingpoliciesandaccountingestimatesfortransactionsandeventssuchasrevenuerecognition.Fordetails,refertotherespectivesectionsbelow:"FinancialInstruments,""Inventories,"and"Revenue."
1.StatementofcompliancewiththeAccountingStandardsforBusinessEnterprisesThefinancialstatementsoftheCompany,preparedontheaforementionedbasisforpreparation,complywiththerequirementsofthelatestAccountingStandardsforBusinessEnterprisesandtheirapplicationguidelines,interpretations,andotherrelevantregulations(collectivelyreferredtoasthe"AccountingStandardsforBusinessEnterprises")issuedbytheMinistryofFinance.Theyfairlyand
completelyreflecttheCompany'sfinancialposition,operatingresults,cashflows,andotherrelevantinformation.Inaddition,thepreparationofthisfinancialreportreferencesthepresentationanddisclosurerequirementsstipulatedintheCSRC'sRulesforthePreparationandDisclosureofInformationbyCompaniesOfferingSecuritiestothePublicNo.15–GeneralRequirementsforFinancialReports(2023Revision)andtheNoticeontheImplementationofNewAccountingStandardsforBusinessEnterprisesbyListedCompanies(AccountingDepartmentLetter[2018]No.453).
2.AccountingperiodThecompanyadoptsthecalendaryearasitsaccountingperiod,whichrunsfromJanuary1toDecember31eachyear.
3.OperatingcycleForindustriesotherthanrealestate,theCompanies'operatingcyclesarerelativelyshort,anda12-monthperiodisusedasthethresholdforclassifyingtheliquidityofassetsandliabilities.Theoperatingcycleintherealestateindustryspansfrompropertydevelopmenttosalesrealization,generallyexceeding12months.Thespecificdurationisdeterminedbythenatureofthedevelopmentproject,withtheoperatingcycleitselfservingasthecriterionforclassifyingtheliquidityofassetsandliabilities.
4.RecordingcurrencyTheCompanyanditsdomesticsubsidiariesadoptRMBastheirrecordingcurrency.TheoverseassubsidiariesoftheCompanydeterminetheirrecordingcurrencybasedonthecurrencyoftheprimaryeconomicenvironmentinwhichtheyoperate.TheCompanypreparesitsfinancialstatementsusingRMBasthereportingcurrency.
5.Determinationmethodsandselectionbasisformaterialitythreshold??Applicable?Notapplicable
| Item | Importancecriteria |
| Significantaccountsreceivablewiththeprovisionforbaddebtsmadeonanindividualbasis | AccountsreceivablebalancesofRMB5millionormore |
| Majornon-wholly-ownedsubsidiaries | Anon-wholly-ownedsubsidiarywithrevenueexceeding10%oftheconsolidatedoperatingrevenue,ortotalassetsexceeding5%oftheconsolidatedtotalassets. |
6.Accountingtreatmentsforbusinesscombinationsundercommoncontrolandthosenotundercommoncontrol
(1)AccountingtreatmentsforbusinesscombinationundercommoncontrolForbusinesscombinationsundercommoncontrol,theassetsandliabilitiesacquiredbytheCompanyfromtheacquireearemeasuredatthebookvalueoftheacquireeintheconsolidatedfinancialstatementsoftheultimatecontrollerasofthecombinationdate.Thedifferencebetweenthebookvalueofthemergerconsideration(orthetotalparvalueofthesharesissued)andthebookvalueofthenetassetsacquiredinthemergerisadjustedagainstcapitalreserve,andifthecapitalreserveisinsufficienttoabsorbthedifference,theadjustmentismadetoretainedearnings.Inabusinesscombinationundercommoncontrolachievedthroughmultipletransactionsinstages,theassetsandliabilitiesofthecombinedpartyacquiredbytheCompanyinthecombinationaremeasuredattheirbookvalueintheultimatecontroller'sconsolidatedfinancialstatementsasofthecombinationdate;thedifferencebetweenthesumofthebookvalueofthepre-combinationinvestmentheldandthebookvalueofthenewconsiderationpaidonthecombinationdate,andthebookvalueofthenetassetsacquiredinthecombination,isadjustedagainstcapitalreserve.Ifthecapitalreserveisinsufficienttoabsorbthedifference,theadjustmentismadetoretainedearnings.Forthelong-termequityinvestmentsheldbythecombiningpartyinthecombinedpartybeforeobtainingtherightofcontrol,therecognizedprofitorloss,othercomprehensiveincome,andotherchangesinowners'equitybetween
thelaterofthedatetheoriginalequitywasacquiredandthedatewhenboththecombiningpartyandthecombinedpartyfirstcameundertheultimatecontroller'scontrol,uptothecombinationdate,shallbeoffsetagainsteithertheretainedearningsatthebeginningofthecomparativestatementsperiodorthecurrentperiod'sprofitorloss.
(2)AccountingtreatmentsforbusinesscombinationnotundercommoncontrolInabusinesscombinationnotundercommoncontrol,thecombinationcostisdeterminedasthefairvalueoftheassetstransferred,liabilitiesincurredorassumed,andequitysecuritiesissuedbytheacquirerontheacquisitiondatetoobtaintherightofcontrolovertheacquiree.Ontheacquisitiondate,theassets,liabilities,andcontingentliabilitiesobtainedfromtheacquireearerecognizedatfairvalue.Ontheacquisitiondate,theCompanyrecognizesthedifferencebetweenthecombinationcostandthefairvalueshareofnetidentifiableassetsobtainedfromtheacquireeasgoodwill,whichissubjecttosubsequentmeasurementatcostlessaccumulatedprovisionforimpairment;thedifferencebetweenthecombinationcostandthefairvalueshareofnetidentifiableassetsobtainedfromtheacquireeis,afterverification,recognizedinprofitorloss.Inabusinesscombinationnotundercommoncontrolachievedthroughmultipletransactionsinstages,thecombinationcostisthesumoftheconsiderationpaidontheacquisitiondateandthefairvalueoftheequityinterestintheacquireeheldpriortotheacquisitiondateasoftheacquisitiondate.Forequityinterestsintheacquireeheldpriortotheacquisitiondate,suchinterestsareremeasuredattheirfairvalueasoftheacquisitiondate,andthedifferencebetweenthefairvalueandthebookvalueisrecognizedincurrentperiodinvestmentincome;forequityinterestsintheacquireeheldpriortotheacquisitiondate,anyothercomprehensiveincomeandotherchangesinowners'equityrelatedtosuchinterestsarereclassifiedtoprofitorlossontheacquisitiondate,exceptforothercomprehensiveincomearisingfromtheremeasurementofthenetliabilitiesunderdefinedbenefitplansorchangesinnetassetsoftheacquiree,andothercomprehensiveincomerelatedtonon-tradingequityinstrumentinvestmentspreviouslydesignatedasmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome.
(3)TreatmentoftransactioncostsinbusinesscombinationInabusinesscombination,intermediaryfees,suchasaudit,legalservices,valuationconsulting,andotherrelatedG&Aexpensesincurredforthetransactionarerecognizedinprofitorlosswhenincurred.Thetransactioncostsincurredforissuingequitysecuritiesordebtsecuritiesasmergerconsiderationareincludedintheinitialrecognizedamountofsuchequitysecuritiesordebtsecurities.
7.Criteriafordeterminingcontrolandpreparationmethodsforconsolidatedfinancialstatements
(1)JudgmentcriteriaforcontrolTheconsolidationscopeintheconsolidatedfinancialstatementsisdeterminedonthebasisofcontrol.ControlmeansthattheCompanyhasthepowerovertheinvestees,participatesintheirrelevantactivitiestoobtainvariablereturns,andhastheabilitytousethatpowertoaffecttheamountofreturnsfromtheinvestees.Whenchangesinrelevantfactsandcircumstancesleadtochangesinthekeyelementsrelatedtothedefinitionofcontrol,theCompanywillre-evaluateaccordingly.Whendeterminingwhethertoincludeastructuredentitywithintheconsolidationscope,theCompanycomprehensivelyevaluatesallrelevantfactsandcircumstances,includingassessingthestructuredentity'spurposeanddesign,identifyingthetypesofvariablereturns,andevaluatingwhethercontrolexistsoverthestructuredentitybasedonitsparticipationinrelevantactivitiesthatexposeittosomeorallvariabilityofreturns.
(2)PreparationmethodsforconsolidatedfinancialstatementsConsolidatedfinancialstatementsarepreparedbytheCompanybasedonthefinancialstatementsoftheCompanyanditssubsidiaries,alongwithotherrelevantmaterials.Inpreparingconsolidatedfinancialstatements,theaccountingpoliciesandreportingperiodsoftheCompanyanditssubsidiariesmustbeconsistent,andsignificantintercompanytransactionsandbalancesareeliminated.
Duringthereportingperiod,subsidiariesandbusinessesaddedduetoabusinesscombinationundercommoncontrolaretreatedashavingbeenincludedintheCompany'sconsolidationscopefromthedatetheycameunderthecontroloftheultimatecontroller.Theiroperatingresultsandcashflowsfromthatdateareincorporatedintotheconsolidatedincomestatementandconsolidatedstatementofcashflows,respectively.Forsubsidiariesandbusinessesaddedduringthereportingperiodduetoabusinesscombinationnotundercommoncontrol,theCompanyincludestheirrevenue,expenses,andprofitsfromtheacquisitiondatetotheendofthereportingperiodintheconsolidatedincomestatement,andincorporatestheircashflowsintotheconsolidatedstatementofcashflows.Theportionofasubsidiary'sshareholders'equitynotattributabletotheCompanyispresentedseparatelyasminorityinterestsundershareholders'equityintheconsolidatedbalancesheet;theshareofthesubsidiary'snetprofitorlossattributabletominorityinterestsispresentedintheconsolidatedincomestatementunderthenetprofititemas"minorityinterestincome".Ifthelossesbornebyminorityshareholdersexceedtheshareofowners'equitytheyholdatthebeginningofthesubsidiary'speriod,theexcesscontinuestobedeductedfromtheminorityinterests.
(3)Purchaseofminorityshareholders'equityinasubsidiaryThedifferencebetweenthecostofnewlyacquiredlong-termequityinvestmentsfromthepurchaseofminorityinterestsandtheproportionateshareofthesubsidiary'snetassetsharecalculatedbasedontheincreasedownershipratiofromtheacquisitiondateorcombinationdate,aswellasthedifferencebetweenthedisposalproceedsfrompartialdisposalofequityinvestmentsinasubsidiarywithoutlossofcontrolandtheproportionateshareofthesubsidiary'snetassetshareattributabletothedisposedlong-termequityinvestmentscalculatedfromtheacquisitiondateorcombinationdate,shallbeadjustedagainstcapitalreserveintheconsolidatedbalancesheet.Ifthecapitalreserveisinsufficienttooffsetthedifference,theremainingamountshallbeadjustedagainstretainedearnings.
(4)TreatmentforlossofrightofcontroloversubsidiariesWhentheCompanydisposesofaportionofitsequityinvestmentsorlosestherightofcontrolovertheoriginalsubsidiaryduetootherreasons,theremainingequityinterestshallberemeasuredatfairvalueasofthedateoflossofcontrol;thedifferencebetweenthetotaloftheconsiderationreceivedfromthedisposalofequityandthefairvalueoftheremainingequityinterest,lessthesumofthesubsidiary'snetassetsattributabletotheoriginalownershippercentagecalculatedbasedonbookvaluefromtheacquisitiondateandtherelatedgoodwill,shallberecognizedasinvestmentincomeintheperiodoflossofcontrol.Othercomprehensiveincomerelatedtoequityinvestmentsintheformersubsidiaryshallbereclassifiedonthesamebasisasifthesubsidiaryhaddirectlydisposedoftherelatedassetsorliabilitiesuponlossofcontrol,andotherchangesinowners'equitypreviouslyrecognizedunderaccountingbyequitymethodrelatedtotheformersubsidiaryshallbetransferredtoprofitorlossintheperiodoflossofcontrol.
(5)TreatmentforthedisposalofequityinstagesuntillossofcontroloccursIftheterms,conditions,andeconomiceffectsofmultipletransactionsinvolvingthedisposalofequityinstagesuntillossofcontrolmeetoneormoreofthefollowingconditions,theCompanyshallaccountforsuchtransactionsasapackageoftransactions：
1)Thetransactionsareenteredintoeithersimultaneouslyorincontemplationofoneanother;
2)Thetransactionsasawholearenecessarytoachieveacompletecommercialoutcome;
3)Theoccurrenceofonetransactioniscontingentontheoccurrenceofatleastoneothertransaction;
4)Atransactionisnoteconomicallyviablewhenconsideredindividually,butiseconomicallyviablewhenconsideredtogetherwiththeothers.Whenconductingadisposalofequityinstagesuntilthelossoftherightofcontroloccurs,themeasurementoftheremainingequityinterestandtherecognitionofprofitorlossrelatedtothedisposal
shallfollowthesameaccountingprinciplesasthosedescribedintheprecedingsectionfor"TreatmentuponLossofControlofaSubsidiary."Priortothelossofcontrol,thedifferencebetweentheconsiderationreceivedfromeachdisposalandthedisposinginvestment'sproportionateshareofthesubsidiary'snetassetscalculatedbasedonbookvaluefromtheacquisitiondateshallbeaccountedforasfollows:
1)Ifthetransactionsconstitute"apackageoftransactions,"therelatedamountshallberecognizedinothercomprehensiveincome.Therelatedamountsshallbetransferredtoprofitorlossduringtheperiodoflossofcontrol.
2)Ifthetransactionsdonotconstitute"apackageoftransactions,"theyshallberecognizedasequitytransactionsinthecapitalreserve(equitypremium/capitalpremium).Uponlossofcontrol,therelatedamountsshallnotbetransferredtoprofitorlossintheperiodoflossofcontrol.
8.Classificationofjointventurearrangementsandaccountingtreatmentsforjointoperations
(1)IdentificationandclassificationofjointventurearrangementsAjointventurearrangementreferstoanarrangementunderthecommoncontroloftwoormoreparties.Ajointventurearrangementhasthefollowingcharacteristics:1)allparticipatingpartiesareboundbythearrangement;2)twoormoreparticipatingpartiesexercisecommoncontroloverthearrangement.Nosingleparticipatingpartycancontrolthearrangementindividually,andanypartywithcommoncontroloverthearrangementcanpreventotherpartiesorcombinationsofpartiesfromexercisingindividualcontrol.Commoncontrolreferstothecontrolsharedoveranarrangementinaccordancewiththerelevantstipulations,andthedecision-makingofrelatedactivitiesofthearrangementshouldnotbemadebeforethepartysharingtherightofcontrolagreesthesame.Jointventurearrangementsareclassifiedintojointoperationandjointventure.Ajointoperationreferstothosejointventurearrangementsunderwhichthejointventureisentitledtorelevantassetsandberesponsibleforrelevantliabilities.Ajointventurereferstoajointventurearrangementinwhichtheparticipatingpartiesonlyhaverightstothenetassetsofthearrangement.
(2)AccountingtreatmentforjointventurearrangementsParticipantsinajointoperationshallrecognizethefollowingitemsrelatedtotheirproportionateshareinthejointoperationsandaccountfortheminaccordancewiththeAccountingStandardsforBusinessEnterprises:1)Recognizeindividuallyheldassetsandrecognizejointlyheldassetsbasedontheirproportionateshare;2)Recognizeindividuallyincurredliabilitiesandrecognizejointlyincurredliabilitiesbasedontheirproportionateshare;3)Recognizerevenuefromthesaleoftheirshareoftheoutputofthejointoperations;4)Recognizetheirproportionateshareoftherevenuegeneratedbythejointoperationsfromthesaleofoutput;5)Recognizeindividuallyincurredexpensesandrecognizeexpensesofthejointoperationsbasedontheirproportionateshare.ParticipantsinjointventuresshallaccountfortheirinvestmentsinjointventuresinaccordancewithAccountingStandardsforBusinessEnterprisesNo.2-Long-termEquityInvestments.
9.DeterminationcriteriaforcashandcashequivalentsThetermcashinthestatementofcashflowsreferstoacompany'scashonhandanddepositsthatarereadilyavailableforpayment.Cashequivalentsareshort-term,highlyliquidinvestmentsthatarereadilyconvertibletoknownamountsofcashandsubjecttoaninsignificantriskofchangesinvalue.
10.Foreigncurrencytransactionsandtranslationofforeigncurrencystatements
(1)TranslationofforeigncurrencytransactionsForeigncurrencytransactionsshallbetranslatedintoRMBuponinitialrecognitionusinganexchangeratethatapproximatesthespotexchangerateonthetransactiondate.Atthebalancesheetdate,foreigncurrencymonetaryitemsshallbetranslatedusingthespotexchangerateonthebalancesheetdate.Exchangedifferencesresultingfromdifferencesbetweenthespotexchangerateonthebalancesheetdateandthespotexchangerateatinitialrecognitionorthepreviousbalancesheetdateshallbe
recognizedinprofitorloss;foreigncurrencynon-monetaryitemsmeasuredathistoricalcostshallcontinuetobetranslatedusingtheexchangeratethatapproximatesthespotexchangerateonthetransactiondate;foreigncurrencynon-monetaryitemsmeasuredatfairvalueshallbetranslatedusingthespotexchangerateonthedatethefairvalueisdetermined.Thedifferencebetweenthetranslatedamountintherecordingcurrencyandtheoriginalrecordingcurrencyamountshallberecognizedinprofitorlossorothercomprehensiveincomebasedonthenatureofthenon-monetaryitems.
(2)Translationofforeign-currencyfinancialstatementsAtthebalancesheetdate,whentranslatingtheforeigncurrencyfinancialstatementsofoverseassubsidiaries,theassetsandliabilityitemsinthebalancesheetshallbetranslatedusingthespotexchangerateonthebalancesheetdate;forowners'equityitems,exceptforthe"undistributedprofits"item,allotheritemsshallbetranslatedusingthespotexchangerateonthetransactiondate;therevenueandexpenseitemsintheincomestatementshallbetranslatedusinganexchangeratethatapproximatesthespotexchangerateonthetransactiondate;allitemsinthestatementofcashflowsshallbetranslatedattheexchangeratethatapproximatesthespotexchangerateonthedatethecashflowsoccurred.Thedifferencearisingfromthetranslationoffinancialstatementsshallberecognizedinthe"othercomprehensiveincome"itemundershareholders'equityinthebalancesheet.
11.Financialinstruments
(1)RecognitionandderecognitionoffinancialinstrumentsTheCompanyrecognizesfinancialassetsorfinancialliabilitieswhenitbecomesapartytofinancialinstrumentscontracts.Financialassetsboughtandsoldintheordinarycoursearesubjecttorecognitionandderecognitionusingtradedateaccounting.Thebuyingandsellingoffinancialassetsintheordinarycoursereferstoreceivingordeliveringfinancialassetswithinthetimeframeprescribedbylaws,regulations,orcommonpractices,inaccordancewiththecontractualterms.TradingdatereferstothedateonwhichtheCompanycommitstobuyorsellfinancialassets.Derecognitionshallbeappliedtoafinancialasset(oraportionthereof,oragroupofsimilarfinancialassets)whenthefollowingconditionsaremet,i.e.,itshallberemovedfromtheCompany'saccountsandbalancesheet.
1)Thecontractualrighttoreceivethecashflowsofthefinancialassetshasexpired;
2)Thefinancialassetshasbeentransferredandmeetsthederecognitioncriteriafortransferoffinancialassetsasdescribedbelow.Ifthepresentobligationofafinancialliabilityisfullyorpartiallydischarged,theliability(orthedischargedportion)isderecognized.IftheCompany(astheobligor)andthecreditorenterintoanagreementtoassumeanewfinancialliabilitytoreplacetheexistingfinancialliability,andthecontractualtermsofthenewfinancialliabilityaresubstantiallydifferentfromthoseoftheexistingone,theexistingfinancialliabilitiesshallbederecognizedandthenewfinancialliabilityshallberecognizedsimultaneously.
(2)ClassificationandmeasurementoffinancialassetsAtinitialrecognition,theCompanyclassifiesfinancialassetsintothefollowingthreecategoriesbasedonitsbusinessmodelformanagingfinancialassetsandthecontractualcashflowscharacteristicsofthefinancialassets:financialassetsmeasuredatamortizedcosts,financialassetsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,andfinancialassetsmeasuredatfairvaluewithchangesrecognizedinprofitorloss.Financialassetsareinitiallyrecognizedatfairvalue.Forfinancialassetsmeasuredatfairvaluewithchangesrecognizedinprofitorloss,relatedtransactioncostsaredirectlyrecognizedinprofitorloss.Forothercategoriesoffinancialassets,relatedtransactioncostsareincludedintheirinitialrecognizedamount.Foraccountsreceivablearisingfromthesaleofgoodsorprovisionofserviceswithoutincludingorconsideringsignificantfinancingcomponents,theCompanyrecognizestheconsiderationamounttheCompanyexpectstobeentitledtoreceiveastheinitialrecognizedamount.Thesubsequentmeasurementoffinancialassetsdependsontheirclassification.
1)FinancialassetsmeasuredatamortizedcostAfinancialassetshallbeclassifiedasmeasuredatamortizedcostsifitmeetsbothofthefollowingconditions:theCompany'sbusinessmodelformanagingthefinancialassetsistocollectcontractualcashflows,andthecontractualcashflowsofthefinancialassetsrepresentsolelypaymentsofprincipalandinterestontheprincipalamountoutstanding;thecontractualtermsofthefinancialassetsstipulatethatthecashflowsgeneratedonspecifieddatessolelyrepresentpaymentsofprincipalandinterestcalculatedbasedontheoutstandingprincipalamount.Forsuchfinancialassets,theeffectiveinterestmethodisapplied,andtheirsubsequentmeasurementisperformedatamortizedcosts,withgainsorlossesarisingfromtheiramortizationorimpairmentrecognizedinprofitorloss.
2)InvestmentsindebtinstrumentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincomeAfinancialassetshallbeclassifiedasmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincomeifitmeetsbothofthefollowingconditions:theCompany'sbusinessmodelformanagingthefinancialassetsisbothtocollectcontractualcashflowsandtosellthefinancialassets,andthecontractualcashflowsofthefinancialassetsrepresentsolelypaymentsofprincipalandinterestontheprincipalamountoutstanding;thecontractualtermsofthefinancialassetsstipulatethatthecashflowsgeneratedonspecifieddatessolelyrepresentpaymentsofprincipalandinterestcalculatedbasedontheoutstandingprincipalamount.Forsuchfinancialassets,fairvalueisusedforsubsequentmeasurement.Thediscountorpremiumisamortizedusingtheeffectiveinterestmethodandrecognizedasinterestincomeorexpense.Exceptforimpairmentlossesandexchangedifferencesonforeigncurrencymonetaryfinancialassetsrecognizedinprofitorloss,thefairvaluechangesofsuchfinancialassetsarerecognizedinothercomprehensiveincomeuntilthefinancialassetisderecognized,atwhichtimethecumulativegainsorlossesarereclassifiedtoprofitorloss.Interestincomerelatedtosuchfinancialassetsshallberecognizedinprofitorloss.
3)InvestmentsinequityinstrumentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincomeTheCompanyirrevocablyelectstodesignatecertainnon-tradingequityinstrumentinvestmentsasfinancialassetsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome.Dividendincomerelatedtosuchassetsisrecognizedinprofitorloss,fairvaluechangesarerecognizedinothercomprehensiveincome,andcumulativegainsorlossesarisingfromsuchchangesarereclassifiedtoretainedearningsuponderecognitionofthefinancialassets.
4)FinancialassetsmeasuredatfairvaluesthroughcurrentprofitorlossFinancialassetsotherthanthosemeasuredatamortizedcostsandthosemeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincomesshallbeclassifiedasfinancialassetsmeasuredatfairvaluewithchangesrecognizedinprofitorloss.Atinitialrecognition,financialassetsmaybedesignatedasmeasuredatfairvaluewithchangesrecognizedinprofitorlosstoeliminateorsignificantlyreduceanaccountingmismatch.Forsuchfinancialassets,fairvalueisusedforsubsequentmeasurement,andallfairvaluechangesarerecognizedinprofitorloss.TheCompanyshallreclassifyallaffectedrelatedfinancialassetsifandonlyifitchangesitsbusinessmodelformanagingfinancialassets.
(3)ClassificationandmeasurementoffinancialliabilitiesAtinitialrecognition,theCompany'sfinancialliabilitiesareclassifiedintofinancialliabilitiesmeasuredatamortizedcostsandfinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorloss.Financialliabilitiesthatmeetoneofthefollowingconditionsmaybedesignatedatinitialmeasurementtobemeasuredatfairvalue,withchangesrecognizedinprofitorloss:1)thedesignationeliminatesorsignificantlyreducesaccountingmismatch;2)financialliabilitiesoracombinationoffinancialassetsandfinancialliabilitiesaremanagedandevaluatedbasedonfairvalueaccordingtotheformalwrittendocumentsoutliningtheGroup'sriskmanagementorinvestmentstrategies,andreportsareprovidedtokeyofficerswithintheGroupbasedonthisinformation;3)Thefinancialliabilitiescontainembeddedderivativeinstrumentsthatneedtobeseparatelysplit.
TheCompanydeterminestheclassificationoffinancialliabilitiesatinitialrecognition.Forfinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorloss,therelatedtransactioncostsarerecognizeddirectlyinprofitorloss.Forotherfinancialliabilities,therelatedtransactioncostsareincludedintheirinitialrecognizedamount.Subsequentmeasurementoffinancialliabilitiesdependsontheirclassification:
1)FinancialliabilitiesmeasuredatamortizedcostsForsuchfinancialliabilities,subsequentmeasurementisconductedusingtheeffectiveinterestmethodatamortizedcosts,andgainsorlossesarisingfromderecognitionoramortizationarerecognizedinprofitorloss.
2)FinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorlossFinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorlossincludefinancialliabilitiesheldfortrading(includingderivativesthatarefinancialliabilities)andthoseinitiallydesignatedasmeasuredatfairvaluewithchangesrecognizedinprofitorloss.Forsuchfinancialliabilities,subsequentmeasurementisconductedatfairvalue,andgainsorlossesarisingfromfairvaluechanges,aswellasdividendsandinterestexpensesrelatedtothesefinancialliabilities,arerecognizedinprofitorloss.
(4)OffsettingoffinancialinstrumentsFinancialassetsandfinancialliabilitiesarepresentedinthebalancesheetattheirnetamountsafteroffsetting,providedthatthefollowingconditionsaremet:thereisalegallyenforceablerighttooffsettherecognizedamounts,andtherighttooffsetiscurrentlyexercisable;thereisaplantosettleonanetbasisorsimultaneouslyrealizethefinancialassetsandsettlethefinancialliabilities.
(5)Impairmentoffinancialinstruments
1)ImpairmentmeasurementandaccountingtreatmentoffinancialinstrumentsTheCompanyshallconductimpairmenttreatmentandrecognizeprovisionforlossbasedonexpectedcreditlossesforthefollowingitems.
①Financialassetsmeasuredatamortizedcosts;
②Accountsreceivableandinvestmentsindebtinstrumentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome;
③ContractassetsasdefinedinAccountingStandardsforBusinessEnterprisesNo.14-Revenue;
④Leasereceivables;
⑤Loancommitmentsnotclassifiedasfinancialliabilitiesmeasuredatfairvaluewithchangesrecognizedinprofitorloss;
⑥Financialguaranteecontracts(exceptthosemeasuredatfairvaluewithchangesrecognizedinprofitorloss,ortransferoffinancialassetsthatdonotmeetderecognitioncriteriaorcontinueinvolvementwiththetransferredfinancialassets).Expectedcreditlossesrefertotheweightedaverageofcreditlossesonfinancialinstruments,weightedbytheriskofdefaultoccurring.Creditlossreferstothedifferencebetweenallcontractualcashflowsreceivableunderthecontract(discountedbytheCompanyusingtheoriginaleffectiveinterestrate)andallexpectedcashflowstobecollected,i.e.,thepresentvalueofallcashshortfalls.Specifically,forfinancialassetspurchasedororiginatedbytheCompanythathaveincurredacreditloss,thediscountingisbasedonthecredit-adjustedeffectiveinterestrateofthatfinancialassets.ForfinancialassetspurchasedororiginatedbytheCompanythathaveincurredacreditloss,theCompanyrecognizesonlythecumulativechangesinexpectedcreditlossesovertheentireexpectedlifesinceinitialrecognitionastheprovisionforlossonthebalancesheetdate.
ForaccountsreceivablethateitherdonotcontainasignificantfinancingcomponentorforwhichtheCompanydoesnotconsiderthefinancingcomponentincontractswithatermofoneyearorless,theCompanyappliesasimplifiedmeasurementapproachtomeasuretheprovisionforlossatanamountequaltothelifetimeexpectedcreditlosses.Forleasereceivablesandaccountsreceivablecontainingasignificantfinancingcomponent,theCompanyappliesasimplifiedmeasurementapproachtomeasuretheprovisionforlossatanamountequaltothelifetimeexpectedcreditlosses.Exceptforfinancialassetsmeasuredundertheaforementionedmethods,theCompanyassesseswhethertheircreditriskhasincreasedsignificantlysinceinitialrecognitionateachbalancesheetdate.Ifthecreditriskhasincreasedsignificantlysincetheinitialrecognition,theCompanymeasurestheprovisionforlossatanamountequaltothelifetimeexpectedcreditlosses;ifthecreditriskhasnotincreasedsignificantlysinceinitialrecognition,theCompanymeasurestheprovisionforlossatanamountequaltotheexpectedcreditlosseswithinthenext12monthsofthefinancialinstruments.TheCompanyutilizesavailablereasonableandsupportableinformation,includingforward-lookinginformation,bycomparingtheriskofdefaultoccurringonthefinancialinstrumentsasofthebalancesheetdatewiththeriskofdefaultatinitialrecognitiondate,todeterminewhetherthecreditriskofthefinancialinstrumentshasincreasedsignificantlysinceinitialrecognition.Asofthebalancesheetdate,iftheCompanydeterminesthatthefinancialinstrumentsonlyhavelowcreditrisk,itisassumedthatthecreditriskofthefinancialinstrumentshasnotincreasedsignificantlysinceinitialrecognition.TheCompanyassessesexpectedcreditriskandmeasuresexpectedcreditlossesonthebasisofindividualfinancialinstrumentsorportfoliosoffinancialinstruments.Whenportfoliosoffinancialinstrumentsareusedasthebasis,theCompanygroupsthefinancialinstrumentsintodifferentportfoliosbasedoncommonriskcharacteristics.TheCompanyremeasuresexpectedcreditlossesateachbalancesheetdate,withtheresultingincreasesorreversalsintheprovisionforlossrecognizedasimpairmentlossesorgainsinprofitorloss.Forfinancialassetsmeasuredatamortizedcosts,theprovisionforlossreducesthebookvalueofthesefinancialassetspresentedinthebalancesheet;fordebtinvestmentsmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,theCompanyrecognizestheirprovisionforlosswithinothercomprehensiveincome,withoutreducingthebookvalueofthesefinancialassets.
2)FinancialinstrumentsforwhichexpectedcreditriskisassessedandexpectedcreditlossesaremeasuredonaportfoliobasisForaccountsreceivableitemssuchasnotesreceivable,accountsreceivable,otherreceivables,andcontractassets,ifacustomer'screditriskcharacteristicsaresignificantlydifferentfromthoseofothercustomersintheportfolioorifthecustomer'screditriskcharacteristicshavechangedsignificantly,theCompanyassessestheprovisionforbaddebtsonanindividualbasisforsuchreceivables.Exceptforaccountsreceivableforwhichtheprovisionforbaddebtsisassessedindividually,theCompanygroupsaccountsreceivableintoportfoliosbasedoncreditriskcharacteristicsandcalculatestheprovisionforbaddebtsonaportfoliobasis.Notesreceivable,accountsreceivableandcontractassetsFornotesreceivable,accountsreceivableandcontractassets,whetherthereisasignificantfinancingcomponentornot,theCompanyalwaysmeasuresitsprovisionforlossattheamountequivalenttotheexpectedcreditlossesduringtheentireduration.Whentheinformationofexpectedcreditlossesofasinglefinancialassetorcontractassetcannotbeevaluatedatareasonablecost,theCompanydividesthenotesreceivable,accountsreceivableandcontractassetsintoportfoliosaccordingtothecreditriskcharacteristics,andcalculatestheexpectedcreditlossesonthebasisoftheportfolios.Thebasisfordeterminingtheportfoliosisasfollows:
A.Notesreceivable?Portfolio1ofnotesreceivable:bankacceptancebills
?Portfolio2ofnotesreceivable:commercialacceptancebillsB.Accountsreceivable?Portfolio1ofaccountsreceivable:governmentpaymentportfolio?Portfolio2ofaccountsreceivable:portfoliooftransactionswithotherrelatedparties?Portfolio3ofaccountsreceivable:creditriskcharacteristiccombinationFortheaccountsreceivabledividedintoportfolios,theCompanypreparesthecomparisontablebetweentheagingofaccountsreceivableandtherateofexpectedcreditlossthroughoutthedurationbyreferencetotheexperienceofhistoricalcreditlosses,combiningwiththecurrentsituationandtheforecastoffutureeconomicconditions,andcalculatestheexpectedcreditlosses.Theagingofaccountsreceivableiscalculatedfromthedateofrecognition.C.OtherreceivablesTheCompanyclassifiesotherreceivablesintoseveralportfoliosbasedoncreditriskcharacteristics,andcalculatesexpectedcreditlossesonthebasisofportfolios.Thebasisfordeterminingportfoliosisasfollows:
?Portfolio1ofotherreceivables:portfoliooftransactionswithrelatedpartieswithintheconsolidation
scope?Portfolio2ofotherreceivables:interestreceivableportfolio?Portfolio3ofotherreceivables:portfoliooftransactionswithotherrelatedparties?Portfolio4ofotherreceivables:creditriskcharacteristiccombinationForotherreceivablesclassifiedasportfolios,theCompanycalculatestheexpectedcreditlossesthroughthedefaultriskexposureandtherateofexpectedcreditlossthroughoutthedurationorinthenext12months.Forotherreceivablesclassifiedintoportfoliosbyaging,theagingiscalculatedfromthedateofrecognition.
(6)TransferoffinancialassetsIftheCompanyhastransferredsubstantiallyalltherisksandrewardsoftheownershipofthefinancialassetstothetransferee,thefinancialassetswillbederecognized;ifitretainssubstantiallyalltherisksandrewardsoftheownershipofthefinancialassets,thefinancialassetswillnotbederecognized.IftheCompanyneithertransfersnorretainssubstantiallyalltherisksandrewardsoftheownershipofthefinancialassets,thetreatmentareasfollows:iftheCompanygivesupcontrolofthefinancialassets,thederecognitionofthefinancialassetswillbecarriedoutwiththerecognitionoftheresultingassetsandliabilities;iftheCompanyhasnotgivenupcontrolofthefinancialassets,therelevantfinancialassetswillberecognizedtotheextentofitscontinuedinvolvementinthetransferredfinancialassets,andtherelevantliabilitieswillberecognizedaccordingly.
12.NotesreceivableRefertotherelevantnotestothefinancialstatementsV.11Financialinstrumentsfordetails.
13.AccountsreceivableRefertotherelevantnotestothefinancialstatementsV.11Financialinstrumentsfordetails.
14.ReceivablesfinancingNotapplicable
15.OtherreceivablesRefertotherelevantnotestothefinancialstatementsV.11Financialinstrumentsfordetails.
16.Contractassets
(1)RecognitionmethodsandstandardsforcontractassetsCOOECpresentscontractassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweenitsperformanceoffulfillmentobligationsandcustomerpayments.Theconsideration(exceptaccountsreceivable)thattheCompanyisentitledtoreceiveforthetransferofgoodsorprovisionofservicestocustomersispresentedascontractassets.
(2)DeterminationmethodsandaccountingtreatmentsofexpectedcreditlossesofcontractassetsForcontractassetsthatdonotcontainanysignificantfinancingcomponent(includingthefinancingcomponentincontractswithatermoflessthanoneyearthatisnotconsideredundertheStandards)asstipulatedinAccountingStandardsforBusinessEnterprisesNo.14-Revenue,theCompanyadoptsasimplifiedmodelofexpectedcreditlosses,thatis,theprovisionforlossisalwaysmeasuredaccordingtotheamountofexpectedcreditlossesoverthelifeoftheinstruments,andtheresultingincreaseorreversalofprovisionforlossisincludedinthecurrentprofitorlossasimpairmentlossesorgains.Forcontractassetsthatcontainsignificantfinancingcomponents,theCompanychoosestousethesimplifiedmodelofexpectedcreditlosses,thatis,theprovisionforlossisalwaysmeasuredaccordingtotheamountofexpectedcreditlossesoverthelifeoftheinstruments.
17.Inventories
(1)ClassificationofinventoriesInventoriesincludedevelopmentland,developmentproducts,developmentproductsintendedforsalebuttemporarilyleased,transitionalhousing,inventorymaterials,inventoryequipmentandlow-valueconsumablesheldforsaleorconsumptioninthedevelopmentandoperationprocess,aswellasdevelopmentcostsinthedevelopmentprocess.
(2)Pricingmethodofinventoriesdispatched
1)Themovingweightedaveragemethodisadoptedforthedispatchedmaterials.
2)Duringthedevelopmentoftheproject,thelandusedfordevelopmentisincludedinthedevelopmentcostsoftheprojectaccordingtothefloorareaoccupiedbythedevelopmentproducts.
3)Thedispatcheddevelopmentproductsareaccountedforbythespecificidentificationmethod.
4)DevelopmentproductsandtransitionalhousingthataretemporarilyleasedforsaleareamortizedevenlyovertheexpectedservicelifeoftheCompany'ssimilarfixedassets.
5)Ifthepublicsupportingfacilitiesarecompletedearlierthantherelevantdevelopmentproducts,afterthecompletionofthepublicsupportingfacilities,thepublicsupportingfacilitiesfeeshallbeallocatedtothedevelopmentcostsoftherelevantdevelopmentprojectaccordingtothefloorareaoftherelevantdevelopmentproject;ifthepublicsupportingfacilitiesarecompletedlaterthantherelevantdevelopmentproducts,thepublicsupportingfacilitiesfeeshallbeaccruedbytherelevantdevelopmentproductsfirst,andthecostoftherelevantdevelopmentproductsshallbeadjustedaccordingtothedifferencebetweentheactualamountandtheaccruedamountafterthecompletionofthecommonfacilities.
(3)DeterminationbasisofnetrealizablevalueofinventoriesOnthebalancesheetdate,theinventoriesaremeasuredatthelowerofcostornetrealizablevalue,andtheprovisionforinventorydepreciationismadeatthedifferencewherethecostofasingleinventoryishigherthanthenetrealizablevalue.Fortheinventoriesthataredirectlyusedforsale,thenetnetrealizablevalueisdeterminedbytheestimatedsellingpriceoftheinventoriesminustheestimatedsellinganddistributionexpensesandrelatedtaxesduringthenormalproductionandoperationprocess;fortheinventoriesthatneedtobeprocessed,theirnetrealizablenetrealizablevalueisdeterminedinthenormalcourseofproductionandoperationbytheestimatedsellingpriceof
thefinishedfinishedproductsminustheestimatedcoststobeincurreduponcompletion,estimatedsellinganddistributionexpensesandrelatedtaxes;onthebalancesheetdate,ifpartofthesameinventoryhasacontractpriceandotherpartsdonothaveacontractprice,itsnetrealizablevalueshallbedeterminedrespectivelyandcomparedwithitscorrespondingcosttodeterminetheprovisionorreversalofprovisionforinventorydepreciationamount.
(4)InventorysystemofinventoriesTheinventorysystemofinventoriesistheperpetualinventorysystem.
(5)Amortizationmethodoflow-valueconsumablesandpackagingmaterials
1)Low-valueconsumablesTheyareamortizedwiththeone-offwrite-offmethod.
2)PackagingmaterialsTheyareamortizedwiththeone-offwrite-offmethod.
18.Assetsheldforsale
(1)Recognitioncriteriaandaccountingtreatmentsofnon-currentassetsheldforsaleordisposalgroupsTheCompanyclassifiesnon-currentassetsordisposalgroupsthatmeetthefollowingconditionsintothecategoryofheldforsale:1)Accordingtothepracticeofsellingsuchassetsordisposalgroupsinsimilartransactions,theycanbesoldimmediatelyunderthecurrentsituation;2)Thesaleisverylikelytooccur,aresolutionhasbeenmadeonasaleplanandafirmpurchasecommitmenthasbeenobtained,andthesaleisexpectedtobecompletedwithinoneyear.Approvalfromrelevantauthoritiesorregulatoryauthoritieshasbeenobtainedinaccordancewithrelevantregulations.IftheCompanylosestherightofcontrolofitssubsidiaryduetoreasonssuchasthesaleofitsinvestmentinthesubsidiary,regardlessofwhethertheenterpriseretainspartoftheequityinvestmentafterthesale,theentireinvestmentinthesubsidiaryshallbeclassifiedasheldforsaleintheparentcompany'sindividualfinancialstatements,andallassetsandliabilitiesofthesubsidiaryshallbeclassifiedasheldforsaleintheconsolidatedfinancialstatementswhentheinvestmentinthesubsidiarytobesoldmeetstheconditionsfortheclassificationasheldforsale.TheCompanyadjuststheestimatednetresidualvalueoftheassetsheldforsaletothenetamountreflectingitsfairvaluelesssellingexpenses(butnotmorethantheoriginalbookvalueoftheassetsheldforsale).Thedifferencebetweentheoriginalbookvalueandtheadjustedestimatednetresidualvalueisincludedinthecurrentprofitorlossasassetimpairmentloss,andtheprovisionforimpairmentofassetsheldforsaleismadeatthesametime.Fortheamountofassetimpairmentlossrecognizedbythedisposalgroupheldforsale,thebookvalueofthegoodwillinthedisposalgroupshallbedeductedfirst,andthentheratioofthebookvalueofeachnon-currentassetinthedisposalgroupmeasuredinaccordancewiththeapplicablestandardsshallbedeductedinproportiontoitsbookvalue.Ifthenetamountofthefairvalueofthedisposalgroupheldforsaleminussalesexpensesincreasesonsubsequentbalancesheetdates,thepreviouslywritten-downamountshallberestored,andreversedwithintheassetimpairmentlossofnon-currentassetsrecognizedunderthemeasurementprovisionsofthisstandardafterbeingclassifiedasheldforsale.Thereversedamountshallbeincludedinthecurrentprofitorloss.Thegoodwillbookvaluethathasbeenoffsetandtheassetimpairmentlossrecognizedbeforethenon-currentassetssubjecttothemeasurementprovisionsoftherelevantstandardsareclassifiedasheldforsaleshallnotbereversed.Thesubsequentreversalamountoftheassetimpairmentlossrecognizedforthedisposalgroupheldforsaleshallbeincreasedinproportiontoitsbookvalueaccordingtotheratioofthebookvalueofeachnon-currentassetinthedisposalgroupthatissubjecttothemeasurementprovisionsoftherelevantstandardsexceptforgoodwill.Nodepreciationoramortizationaremadeforthenon-currentassetsheldforsaleandtheassetsinthedisposalgroupheldforsale;interestandotherexpensesonliabilitiesinthedisposalgroupheldforsalecontinuetoberecognized.Forallorpartoftheinvestmentinassociatesorjointventuresclassifiedasheldforsale,accountingbyequitymethodshallceaseforthepartclassifiedasheldforsale,and
accountingbyequitymethodshallcontinuefortheretainedpart(notclassifiedasheldforsale);theuseoftheequitymethodshallceasewhentheCompanylosessignificantinfluenceovertheassociatesandjointventuresasaresultofthesale.Ifanon-currentassetordisposalgroupisclassifiedasheldforsale,butlaternolongermeetstheclassificationconditionsforheldforsale,theCompanyshallstopclassifyingitasheldforsaleandmeasureitatthelowerofthefollowingtwoamounts:
1)Theamountafteradjustingthebookvalueoftheassetordisposalgroupbeforeitisclassifiedasheldforsalefordepreciation,amortizationorimpairmentthatwouldhavebeenrecognizedifithadnotbeenclassifiedasheldforsale;
2)Recoverableamount.
(2)IdentificationcriteriaofdiscontinuedoperationsDiscontinuedoperationsrefertothecomponentthatcanbeseparatelydistinguishedandhasbeendisposedofbytheCompanyorclassifiedbytheCompanyasheldforsalethatmeetsoneofthefollowingconditions:
1)Thecomponentrepresentsaseparatemajorbusinessorasolemajorbusinessarea;
2)Thecomponentisapartoftheassociatedplanontheintendeddisposalofanindependentmajorbusinessorasolemajorbusinessarea;or
3)Thecomponentisasubsidiaryacquiredonlyforre-sale.
(3)PresentationTheCompanypresentsthenon-currentassetsheldforsaleortheassetsinthedisposalgroupheldforsaleinthebalancesheetunderthe"assetsheldforsale",andtheliabilitiesinthedisposalgroupheldforsaleunderthe"liabilitiesheldforsale".TheCompanypresentstheprofitorlossofcontinuingoperationsandtheprofitorlossofdiscontinuedoperationsintheincomestatementseparately.Fornon-currentassetsordisposalgroupheldforsalethatdonotmeetthedefinitionofdiscontinuedoperations,theirimpairmentlosses,reversalamountsanddisposalprofitorlossarepresentedasprofitorlossfromcontinuingoperations.Theimpairmentlossfromdiscontinuedoperation,reversedamountandotherprofitorlossfromoperationaswellasprofitorlossfromdisposalshallbepresentedasprofitorlossfromdiscontinuedoperation.Adisposalgroupthatisintendedtobediscontinuedratherthansoldandmeetstheconditionsoftherelevantcomponentsinthedefinitionofdiscontinuedoperationsispresentedasdiscontinuedoperationsfromthedateofthediscontinuanceofitsuse.Forthediscontinuedoperationspresentedinthecurrentperiod,theinformationoriginallypresentedastheprofitorlossofcontinuingoperationsisre-presentedastheprofitorlossofthediscontinuedoperationsinthecomparableaccountingperiodinthecurrentfinancialstatements.Ifthediscontinuedoperationsnolongermeettheconditionsforclassificationasheldforsale,theinformationoriginallypresentedasprofitorlossfromdiscontinuedoperationsisre-presentedastheprofitorlossfromcontinuingoperationsinthecomparableaccountingperiodinthecurrentfinancialstatements.
19.DebtinvestmentsNotapplicable
20.OtherdebtinvestmentsNotapplicable
21.Long-termreceivablesRefertotherelevantnotestothefinancialstatementsV.11Financialinstrumentsfordetails.
22.Long-termequityinvestments
(1)CommoncontrolandjudgmentofsignificantinfluenceIfthereisasharedcontroloveranarrangementinaccordancewithrelevantagreements,andtherelevantactivitiesofthearrangementmustbedecidedwiththeunanimousconsentoftheparticipantssharingtherightofcontrol,itisrecognizedascommoncontrol.Fordeterminingwhetherthereisacommoncontrol,itisfirstlytodeterminewhetherallparticipantsoracombinationofparticipantscollectivelycontrolthearrangement,andthendeterminewhetherthedecisionontheactivitiesrelatedtothearrangementmustbeunanimouslyagreedbytheparticipantswhocollectivelycontrolthearrangement.Ifallparticipantsoragroupofparticipantsmustactinconcerttodecideontherelevantactivitiesofanarrangement,allparticipantsoragroupofparticipantsareconsideredtocollectivelycontrolthearrangement;iftherearetwoormorecombinationsofparticipantsthatcancollectivelycontrolanarrangement,itdoesnotconstituteacommoncontrol.Theprotectiverightsenjoyedarenottakenintoaccountindeterminingwhetherthereisacommoncontrol.Significantinfluenceisrecognizedwhenthereisthepowertoparticipateinthemakingdecisionsontheinvestees'financialandoperatingpolicies,butnopowertocontrolorexercisecommoncontrolwithotherpartiesovertheformulationofsuchpolicies.Whenitisdeterminedwhethertheinvestorcanexercisesignificantinfluenceontheinvestees,theimpactoftheinvestor'sdirectorindirectholdingoftheinvestees'votingsharesandthecurrentexecutablepotentialvotingrightsheldbytheinvestorandotherpartiesafterassumedconversiontoinvestees'equityshallbetakenintoconsideration,includingtheimpactofthecurrentconvertiblewarrants,shareoptionsandconvertiblecorporatebondsissuedbytheinvestees.WhentheCompanydirectlyorindirectlyownsmorethan20%(including20%)butlessthan50%ofthevotingrightsoftheinvesteesthroughitssubsidiary,itisgenerallyconsideredtohaveasignificantinfluenceontheinvestees,unlessthereisclearevidencethatitcannotparticipateintheproductionandoperationdecision-makingoftheinvesteesundersuchcircumstances,whichmeansnosignificantinfluence;whentheCompanyownslessthan20%(exclusive)ofthesharesofvotingrightsoftheinvestees,itisgenerallynotconsideredtohavesignificantinfluenceontheinvestees,unlessthereisclearevidencethatitcanparticipateintheproductionandoperationdecision-makingoftheinvesteesandinsuchcaseithasasignificantinfluence.
(2)Determinationofinitialinvestmentcosts
1)Ifthecombiningpartyoflong-termequityinvestmentsformedbybusinesscombinationsundercommoncontroltakesthepaymentofcash,transferofnon-cashassets,assumptionofdebtsorissuanceofequitysecuritiesastheconsiderationforthecombination,theshareofofthebookvalueoftheowners'equityofthecombiningpartyintheconsolidatedfinancialstatementsoftheultimatecontrollershallbetakenasitsinitialinvestmentcostonthecombinationdate.Thecapitalreserve(capitalpremiumorequitypremium)isadjustedforthedifferencebetweentheinitialinvestmentcostofthelong-termequityinvestmentsandthebookvalueoftheconsiderationpaidforthecombinationorthetotalfacevalueofthesharesissued;ifthecapitalreserveisinsufficient,thedifferenceisadjustedagainstretainedearnings.Forlong-termequityinvestmentsrealizedstepbystepbybusinesscombinationunderthesamecontrol,thebookowners'equityshareofthecombinedpartyonthecombinationdatecalculatedbytheshareholdingratioshallbetakenastheinitialinvestmentcostoftheinvestment.Thecapitalreserve(capitalpremiumorequitypremium)shallbeadjustedaccordingtodifferencebetweentheinitialinvestmentcostandthesumofthebookvalueoftheoriginallong-termequityinvestmentsplusthebookvalueofthenewlypaidconsiderationforfurthersharesacquiredonthecombinationdate;ifthecapitalreserveisinsufficienttobeoffset,retainedearningsshallbeoffset.
2)Forlong-termequityinvestmentsformedbybusinesscombinationnotundercommoncontrol,thefairvalueofthecombinationconsiderationpaidontheacquisitiondateshallbeusedastheinitialinvestmentcost.
3)Exceptforlong-termequityinvestmentsformedbybusinesscombination:ifitisobtainedbypayingcash,theactualpurchasepricepaidshallbetakenasitsinitialinvestmentcost;ifitisobtainedby
issuingequitysecurities,fairvalueofequitysecuritiesissuedwillbeusedasitsinitialinvestmentcost;ifaninvestorinvests,thevaluestipulatedintheinvestmentcontractoragreementshallbeusedasitsinitialinvestmentcost(exceptifthevaluestipulatedinthecontractoragreementisunfair).
(3)SubsequentmeasurementsandrecognitionofprofitorlossLong-termequityinvestmentsinwhichtheCompanycancontroltheinvesteesshallbeaccountedforbycostmethodintheindividualfinancialstatementsoftheCompany;long-termequityinvestmentswithcommoncontrolorsignificantinfluenceadopttheaccountingbyequitymethod.Whenthecostmethodisadopted,thelong-termequityinvestmentsarepricedattheinitialinvestmentcost.Exceptfortheactualpricepaidwhentheinvestmentisobtainedorthecashdividendsorprofitsincludedintheconsiderationthathavebeendeclaredbutnotyetdistributed,theentitledcashdividendsorprofitsdeclaredbytheinvesteesarerecognizedascurrentinvestmentincome,andwhetherthelong-terminvestmentisimpairedisconsideredaccordingtotherelevantassetimpairmentpolicyatthesametime.Whentheequitymethodisadopted,iftheinitialinvestmentcostofthelong-termequityinvestmentsisgreaterthanthefairvalueshareofnetidentifiableassetsoftheinvesteesthattheinvestorisentitledtoatthetimeofinvestment,itshallbeincludedintheinitialinvestmentcostofthelong-termequityinvestments;iftheinitialinvestmentcostofthelong-termequityinvestmentsislessthanthefairvalueshareofnetidentifiableassetsoftheinvesteesthattheinvestorisentitledtoatthetimeofinvestment,thedifferenceshallbeincludedinthecurrentprofitorloss,andthecostofthelong-termequityinvestmentsshallbeadjustedatthesametime.Whentheequitymethodisadopted,afterthelong-termequityinvestmentsareobtained,theinvestmentprofitorlossandothercomprehensiveincomeshallberecognizedaccordingtotheshareofnetprofitorlossandothercomprehensiveincomerealizedbytheinvesteesthatshouldbeenjoyedorshared,andthebookvalueofthelong-termequityinvestmentsshallbeadjusted.Whentheshareofnetprofitorlossoftheinvesteesisrecognized,thenetprofitoftheinvesteesshallbeadjustedandrecognizedonthebasisofthefairvalueoftheidentifiableassetsoftheinvesteesatthetimeofacquisitionoftheinvestment,inaccordancewiththeaccountingpoliciesandaccountingperiodoftheCompany,andoffsettingtheportionofinternaltransactionprofitorlossbetweenassociatesandjointventuresthatbelongtotheinvestingenterpriseaccordingtotheshareholdingratio(butiftheinternaltransactionlossisanassetimpairmentloss,itshallberecognizedinfull).Thebookvalueofthelong-termequityinvestmentsshallbereducedaccordingtotheparttobedistributedcalculatedaccordingtotheprofitsorcashdividendsdeclaredtobedistributedbytheinvestees.TheCompanyrecognizesthenetlossincurredbytheinvesteestotheextentthatthebookvalueofthelong-termequityinvestmentsandotherlong-termintereststhatsubstantiallyconstitutethenetinvestmentintheinvesteesarereducedtozero,exceptthattheCompanyisobligedtobearadditionallosses.Forotherchangesinowners'equityoftheinvesteesotherthannetprofitorloss,thebookvalueofthelong-termequityinvestmentsareadjustedandincludedintheowners'equity.IftheCompanycanhavesignificantinfluenceonorexercisecommoncontrolovertheinvesteesduetoadditionalinvestmentorotherreasons,butdoesnotconstitutecontrol,thesumofthefairvalueoftheoriginalequityplusthenewlyincreasedinvestmentcostshallbetakenastheinitialinvestmentcostwiththeaccountingbyequitymethodontheconversiondate.Iftheoriginalequityisclassifiedasnon-tradingequityinstrumentinvestmentmeasuredatfairvaluewithchangesrecognizedinothercomprehensiveincome,theaccumulatedfairvaluechangesrelatedtoitoriginallyincludedinothercomprehensiveincomeshallbetransferredtoretainedearningswhenchangedtoaccountingbyequitymethod.Wherethecommoncontrolorsignificantinfluenceontheinvesteesislostduetothedisposalofpartoftheequityinvestmentsorotherreasons,theremainingequityafterdisposalshallbeaccountedforinaccordancewithAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsonthedateoflossofcommoncontrolorsignificantinfluence,andthedifferencebetweenthefairvalueandthebookvalueshallbeincludedinthecurrentprofitorloss.Fortheothercomprehensiveincomeoftheoriginalequityinvestmentsrecognizedbyadoptingtheaccountingbyequitymethod,theaccountingtreatmentshallbemadeonthesamebasisforthedirectdisposaloftherelevantassetsorliabilitiesbytheinvesteeswhentheaccountingbyequitymethodis
terminated.otherchangesinowners'equityrelatedtotheoriginalequityinvestmentsaretransferredtothecurrentprofitorloss.Ifthecontrolovertheinvesteesislostduetothedisposalofpartoftheequityinvestmentsorotherreasons,andtheremainingequityafterdisposalcanexercisecommoncontrolorsignificantinfluenceontheinvestees,theaccountingbyequitymethodshallbeadopted,andtheremainingequityshallbeadjustedasiftheaccountingbyequitymethodisadoptedfromthetimeofacquisition;iftheremainingequityafterdisposalcannotexercisecommoncontrolorsignificantinfluenceontheinvestees,itshallbeaccountedforinaccordancewiththerelevantprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments,andthedifferencebetweenitsfairvalueandbookvalueonthedateoflossofcontrolshallbeincludedinthecurrentprofitorloss.IftheCompany'sshareholdingratiodecreasesduetothecapitalincreaseofotherinvestors,resultinginthelossofcontrolbutwiththeabilitytoimplementcommoncontrolorexertsignificantinfluenceovertheinvestees,theCompany'sshareoftheinvestees'increaseinnetassetsduetocapitalincreaseandshareexpansionshallberecognizedaccordingtothenewshareholdingratio,andthedifferencebetweentheoriginalbookvalueofthelong-termequityinvestmentscorrespondingtothedecreaseintheshareholdingratiothatshouldbecarriedforwardshallbeincludedinthecurrentprofitorloss;then,adjustmentsshallbemadeasiftheaccountingbyequitymethodhadbeenappliedfromthedateofinvestmentacquisitionaccordingtothenewshareholdingratio.
(4)ImpairmenttestmethodsandmethodsforprovisionforimpairmentForinvestmentsinsubsidiaries,associatesandjointventures,pleaserefertotherelevantnotestothefinancialstatementsV.28Impairmentoflong-termassetsforthemethodofassetimpairment.
23.InvestmentpropertiesMeasurementmodeofinvestmentpropertiesMeasurementbycostmethodDepreciationandamortizationmethods
(1)Investmentpropertiesincludeleasedlanduseright,landuserightheldfortransferuponappreciationandleasedbuildings.
(2)Theinvestmentpropertiesareinitiallymeasuredatcost,subsequentmeasurementismadebyusingthecostmodel,anddepreciationoramortizationisprovidedbyusingthesamemethodasthatforfixedassetsandintangibleassets.Onthebalancesheetdate,ifthereisanysignthattheinvestmentpropertiesareimpaired,thecorrespondingprovisionforimpairmentshallbemadeaccordingtothedifferencebetweenthebookvalueandtherecoverableamount.Thedifferencebetweenthedisposalproceedsofaninvestmentproperty(throughsale,transfer,retirement,ordamage)anditsbookvalue,netofrelatedtaxesandfees,isrecognizedincurrentprofitorloss.
24.Fixedassets
(1)RecognitionconditionsFixedassetsrefertotangibleassetsheldfortheproductionofgoods,provisionoflaborservices,leasingoroperationandmanagement,andwithaservicelifeofmorethanoneaccountingyear.Fixedassetsarerecognizedonlywhentheeconomicbenefitsassociatedwiththemarelikelytoflowintotheenterpriseandtheircostscanbemeasuredreliably.Fixedassetsareinitiallymeasuredattheactualcostatthetimeofacquisition.SubsequentexpensesrelatedtofixedassetsareincludedinthecostoffixedassetswhentheeconomicbenefitsrelatedtothemarelikelytoflowintotheCompanyandtheircostcanbemeasuredreliably;thedailyrepaircostsoffixedassetsthatdonotmeettheconditionsforcapitalizationofsubsequentexpensesoffixedassetsareincludedinthecurrentprofitorlossorinthecostofrelatedassetsaccordingtothebeneficiaryobjectwhenincurred.Forthereplacedpart,itsbookvalueisderecognized.
(2)Depreciationmethod
| Type | Depreciationmethod | Depreciationlife | Residualvaluerate | Annualdepreciationrate |
| Buildingsandconstructions | Straight-linemethod | 20-25 | 5-10 | 3.6-4.75 |
| Meansoftransportation | Straight-linemethod | 5 | 5 | 19 |
| Otherequipment | Straight-linemethod | 5 | 5 | 19 |
| Machineryequipment | Straight-linemethod | 5 | 5 | 19 |
| Renovationoffixedassets | Straight-linemethod | 5 | - | 20 |
TheCompany'sfixedassetsaredepreciatedbystraight-linemethod.Theprovisionfordepreciationoffixedassetscommencesfromthemonthfollowingthedatetheyreachtheworkingconditionforintendeduseandceaseswhentheyarederecognizedorclassifiedasnon-currentassetsheld-for-sale.Withoutconsideringtheprovisionforimpairment,theCompanydeterminestheannualdepreciationrateofeachtypeoffixedassetsbycategory,estimatedservicelifeandestimatedresidualvalueofthefixedassetsasabove.Amongthem,thedepreciationrateforthefixedassetswithprovisionforimpairmentalreadymadeshallbecalculatedanddeterminedbydeductingtheaccumulatedamountofprovisionforassetimpairment.
25.ConstructioninprogressNotapplicable
26.Borrowingcosts
(1)RecognitionprinciplesofcapitalizationofborrowingcostsIfborrowingcostsincurredbytheCompanycanbedirectlyattributedtotheacquisition,constructionorproductionofassetseligibleforcapitalization,theyshallbecapitalizedandincludedinthecostoftherelatedassets;otherborrowingcostsarerecognizedasexpenseswhenincurredandincludedinthecurrentprofitorloss.
(2)Capitalizationperiodofborrowingcosts
1)Thecapitalizationofborrowingcostsshallcommencewhenthefollowingconditionsaresimultaneouslymet:①theassetexpenditurehasbeenoccurred;②theborrowingcostshavebeenoccurred;③theacquisition,constructionorproductionactivitiesthatarenecessarytopreparetheassetsfortheirintendeduseorsalehavebegun.
2)Ifanassetthatmeetsthecapitalizationconditionsisabnormallyinterruptedduringtheacquisition,constructionorproductionprocess,andtheinterruptionlastsformorethan3months,thecapitalizationofborrowingcostswillbesuspended;theborrowingcostsincurredduringtheinterruptionperiodarerecognizedasexpensesandincludedinthecurrentprofitorlossuntiltheacquisition,constructionorproductionoftheassetrestarts.
(3)Whentheassetspurchased,constructedorproducedthatmeetthecapitalizationconditionsreachtheintendedusableorsalablestate,thecapitalizationborrowingcostswillcease.
(3)RateandamountofcapitalizationofborrowingcostsIfaspecialloanisborrowedforthepurposeofpurchasing,constructingorproducingassetsthatmeetthecapitalizationconditions,interestexpensesactuallyincurredonthespecialloaninthecurrentperiod(includingtheamortizationofdiscountsorpremiumsdeterminedaccordingtoeffectiveinterestmethod),minustheunusedborrowedfundsTheamountofinterestthatshouldbecapitalizedisdeterminedbasedontheamountofinterestincomeearnedfromdepositinginabankorinvestment
incomeearnedfromtemporaryinvestments;wheregeneralborrowingsareusedforacquiringandconstructingorproducingassetseligibleforcapitalization,theexpensesofgeneralborrowingstobecapitalizedshouldbecalculatedbymultiplyingtheweightedaverageofassetdisbursementsofthepartofaccumulatedassetdisbursementsexceedingspecialborrowingsbythecapitalizationrateofusedgeneralborrowings.Thecapitalizationrateiscalculatedandrecognizedaspertheweightedaverageinterestrateofgeneralborrowing.
27.Intangibleassets
(1)Servicelifeandbasisfordetermination,estimates,amortizationmethodorreviewprocedure
1)Intangibleassetsincludelanduseright,softwarerightofuseetc.areinitiallymeasuredatcost,andtheservicelifeisanalyzedandjudgedwhentheintangibleassetsareobtained.
2)Intangibleassetswithlimitedservicelifeshallbeamortizedsystematicallyandreasonablywithintheservicelifeaccordingtotheexpectedrealizationmethodoftheeconomicbenefitsrelatedtotheintangibleassets.Iftheexpectedrealizationmethodcannotbereliablydetermined,straight-linemethodshallbeadoptedforamortization.Thespecificperiodsareasfollows:
| Item | Amortizationperiod(years) |
| Landuserights | Statutoryuseperiodoflanduseright |
| Rightofuseofsoftware | 5 |
Intangibleassetswithuncertainservicelifearenotamortized,andtheCompanyreviewstheservicelifeofsuchintangibleassetsineachaccountingperiod.Ifdifferentfromthepreviousestimate,theoriginalestimateisadjustedandtreatedaschangesinaccountingestimates.
3)Forthemethodofassetimpairmentprovisionforintangibleassets,pleaserefertotherelevantnotestothefinancialstatementsV.30Impairmentoflong-termassetsfordetails.
(2)ScopeofR&Dexpendituresandrelatedaccountingtreatments
1)ScopeofR&DexpendituresTheCompanyclassifiesallexpensesdirectlyrelatedtotheR&DactivitiesasR&Dexpenditures,includingemployeecompensationofR&Dpersonnel,materialinputcosts,depreciationcostsandamortizationexpenses.
2)AccountingtreatmentsrelatedtoR&DexpendituresExpendituresintheresearchstageofinternalresearchanddevelopmentprojectsareincludedinthecurrentprofitorlosswhenincurred.Expendituresinthedevelopmentphaseofinternalresearchanddevelopmentprojectsarerecognizedasintangibleassetsifthefollowingconditionsaremet:①itistechnicallyfeasibletocompletetheintangibleassetssothattheycanbeusedorsold;②thereisanintentiontocompletetheintangibleassetsanduseorsellthem;③themeansofgeneratingeconomicbenefitsbyintangibleassets,includingbeingabletoprovethatthereisamarketfortheproductsproducedbyapplyingtheintangibleassetsortheintangibleassetshavingtheirownmarket,andintangibleassetstobeusedinternally,beingabletoprovetheirusefulness;④Itisabletofinishthedevelopmentoftheintangibleassetsandabletouseorselltheintangibleassets,withthesupportofsufficienttechnologies,financialresourcesandotherresources;⑤Theexpenditureattributabletotheintangibleassetduringitsdevelopmentphasecanbemeasuredreliably.
28.Impairmentoflong-termassetsForlong-termequityinvestments,investmentpropertiesmeasuredbythecostmodel,fixedassets,constructioninprogress,right-of-useassets,intangibleassetswithlimitedservicelife,goodwillandotherlong-termassets,theCompanyshall,onthebalancesheetdate,makeajudgmentonwhetherthereisanyindicationthattheassetsmayhaveimpairment.Forgoodwillandintangibleassetswithuncertainservicelifearisingfrombusinesscombination,theimpairmenttestshallbeconductedevery
yearregardlessofwhetherthereareanyindicationsofimpairment.Theimpairmenttestshallbecarriedoutforgoodwillincombinationwiththeassetgrouporcombinationofassetgroupsrelatedtoit.Ifthereareanyofthefollowingsigns,itindicatesthattheassetmayhaveimpairment:
(1)Themarketvalueoftheassethasfallensharplyinthecurrentperiod,andthedeclineisobviouslyhigherthantheexpecteddeclineduetothepassageoftimeornormaluse;(2)theeconomic,technicalorlegalenvironmentinwhichtheenterpriseoperatesandthemarketwheretheassetsarelocatedhaveundergoneorwillundergosignificantchangesinthecurrentperiodorinthenearfuture,whichwilladverselyaffecttheenterprise;(3)themarketinterestrateortherateofreturnoninvestmentinothermarketshasincreasedinthecurrentperiod,thusaffectingthediscountrateoftheenterpriseincalculatingthepresentvalueoftheexpectedfuturecashflowsoftheasset,resultinginasignificantreductionintherecoverableamountoftheasset;(4)thereisevidenceshowingthattheassetisobsoleteoritssubstancehasbeendamaged;(5)theassethasbeenorwillbeidle,terminatedforuseorplannedtobedisposedaheadofschedule;(6)evidencefromtheinternalreportsoftheenterpriseshowsthattheeconomicperformanceoftheassethasbeenorwillbelowerthanexpected,suchasthenetcashflowsoroperatingprofit(orloss)generatedbytheassetisfarlower(orhigher)thantheestimatedamount;(7)otherindicationsthattheassetmayhaveimpairment.Wherethereisanyindicationofimpairmentofassets,therecoverableamountshallbeestimated.Ifthemeasurementresultsofrecoverableamountindicatethattherecoverableamountoftheassetislowerthanitsbookvalue,thebookvalueoftheassetshallbewrittendowntotherecoverableamount,andtheamountwrittendownshallberecognizedastheassetimpairmentlossandincludedinthecurrentprofitorloss,andthecorrespondingprovisionforassetimpairmentshallbemadeatthesametime.Theassetimpairmentlosswillnotbereversedinsubsequentaccountingperiodsoncerecognized.Forimpairmenttestofgoodwill,thebookvalueofgoodwillarisingfrombusinesscombinationshallbeamortizedtotherelevantassetgroupaccordingtoareasonablemethodformtheacquisitiondate;whereitisdifficulttobeallocatedtotherelevantassetsgroup,itshallbeallocatedtotherelevantportfolioofassetgroups.TherelevantassetgrouporportfolioofassetgroupsistheassetgrouporportfolioofassetgroupsthatcanbenefitfromthesynergyofthebusinesscombinationandisnotlargerthanthereportingsegmentdeterminedbytheCompany.Whenconductingtheimpairmenttest,ifthereisanyindicationofimpairmentintheassetgrouporprofileofassetgroupsrelatedtogoodwill,theimpairmenttestshallbeconductedfirstfortheassetgrouporprofileofassetgroupsexcludinggoodwill,therecoverableamountshallbecalculated,andthecorrespondingimpairmentlossesshallberecognized.Then,theimpairmenttestshallbeconductedfortheassetgrouporprofileofassetgroupscontaininggoodwill,andthebookvalueandrecoverableamountshallbecompared.Iftherecoverableamountislowerthanthebookvalue,theimpairmentlossesofgoodwillshallberecognized.
29.Long-termdeferredexpensesLong-termdeferredexpensesrefertovariousexpensesthathavealreadyoccurredbutshouldbebornebythecurrentperiodandfutureperiodswithanamortizationperiodofover1year(excluding1year).Long-termdeferredexpensesarerecordedattheactualamountincurredandareamortizedevenlyovertheexpectedbenefitperiod.Ifalong-termdeferredexpenseitemcannotbenefitfutureaccountingperiods,alltheamortizedvalueoftheitemthathasnotyetbeenamortizedwillbefullytransferredtothecurrentprofitorloss.
30.ContractliabilitiesCOOECpresentscontractassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweenitsperformanceoffulfillmentobligationsandcustomerpayments.TheCompany'sobligationtotransfergoodsorprovideservicestocustomersforconsiderationreceivedorreceivableispresentedascontractliabilities.
31.Employeecompensation
(1)Accountingtreatmentsofshort-termcompensationDuringtheaccountingperiodwhenemployeesprovideservicesfortheCompany,theshort-termcompensationactuallyincurredisrecognizedasaliabilityandincludedinthecurrentprofitorlossorrelatedassetcosts.
(2)Accountingtreatmentsofpost-employmentbenefitsPost-employmentbenefitsaredividedintodefinedcontributionplansanddefinedbenefitplans.
1)DuringtheaccountingperiodwhenemployeesprovideservicesfortheCompany,theamountpayablecalculatedaccordingtothedefinedcontributionplansisrecognizedasaliabilityandincludedinthecurrentprofitorlossorrelatedassetcosts.
2)Accountingtreatmentsofdefinedbenefitplansusuallyincludesthefollowingsteps:
①Accordingtotheexpectedcumulativebenefitunitmethod,unbiasedandmutuallyconsistentactuarialassumptionsareusedtoestimaterelevantdemographicvariablesandfinancialvariables,measuretheobligationsarisingfromthedefinedbenefitplans,anddeterminetheperiodtowhichtherelevantobligationsbelong.Atthesametime,theobligationsarisingfromthedefinedbenefitplansshallbediscountedtodeterminethepresentvalueofthedefinedbenefitplanobligationsbenefitplansandthecurrentservicecost;
②Ifthereareassetsunderthedefinedbenefitplans,thedeficitorsurplusresultingfromthepresentvalueofthedefinedbenefitplanobligationslessthefairvalueofthedefinedbenefitplanassetsisrecognizedasanetliabilityornetassetunderdefinedbenefitplans.Ifthereisasurplusunderthedefinedbenefitplans,thenetassetsofthedefinedbenefitplansshallbemeasuredatthelowerofthesurplusorassetceilingofthedefinedbenefitplans;
③Attheendoftheperiod,theemployeecompensationcostsarisingfromthedefinedbenefitplansarerecognizedasservicecosts,netinterestonnetliabilitiesornetassetsunderdefinedbenefitplans,andchangesarisingfromthere-measurementofnetliabilitiesornetassetsunderdefinedbenefitplans.Theservicecostsandnetinterestonnetliabilitiesornetassetsunderdefinedbenefitplansareincludedinthecurrentprofitorlossorrelatedassetcosts,andthechangesarisingfromthere-measurementofnetliabilitiesornetassetsunderdefinedbenefitplansareincludedinothercomprehensiveincome,andarenotallowedtobereversedtoprofitorlossinsubsequentaccountingperiods,buttheamountrecognizedinothercomprehensiveincomecanbetransferredwithinthescopeofequity.
(3)AccountingtreatmentsofdismissalbenefitsFordismissalbenefitsprovidedtoemployees,employeecompensationliabilitiesarisingfromdismissalbenefitsarerecognizedattheearlierofthefollowingdatesandincludedinthecurrentprofitorloss:1)whentheCompanycannotunilaterallywithdrawthedismissalbenefitsprovidedduetotheterminationoflaborrelationsplanorlayoffproposal;2)whentheCompanyrecognizesthecostsorexpensesrelatedtotherestructuringinvolvingthepaymentofdismissalbenefits.
(4)Accountingtreatmentsofotherlong-termemployeebenefitsIfotherlong-termbenefitsprovidedtoemployeesmeettheconditionsofdefinedcontributionplans,theyshallbeaccountedforinaccordancewiththerelevantprovisionsofdefinedcontributionplans;otherlong-termbenefitsshallbeaccountedforinaccordancewiththerelevantprovisionsofthedefinedbenefitplans.Inordertosimplifytherelevantaccountingtreatment,theemployeecompensationcostsarisingtherefromshallberecognizedasthetotalnetamountofservicecosts,netliabilitiesornetassetsofotherlong-termemployeebenefits,andchangesarisingfromthere-measurementofnetliabilitiesornetassetsofotherlong-termemployeebenefits,andshallbeincludedinthecurrentprofitorlossorrelatedassetcosts.
32.Estimatedliabilities
(1)WhenanobligationrelatedtothecontingencybecomethepresentobligationoftheCompanyandtheperformanceofsuchobligationislikelytoresultinanoutflowofeconomicbenefitsfromtheCompany,andtheamountofsuchobligationcanbemeasuredreliably,theCompanyrecognizesitasestimatedliabilities.
(2)TheCompanyconductstheinitialmeasurementoftheestimatedliabilitiesaccordingtothebestestimateoftheexpensesrequiredfortheperformanceoftherelevantpresentobligations,andcomprehensivelyconsiderstherisks,uncertainties,timevalueofmoneyandotherfactorsrelatedtocontingencies.Iftheimpactofthetimevalueofmoneyissignificant,thebestestimateshallbedeterminedbydiscountingtherelevantfuturecashflows.TheCompanyreviewsthebookvalueoftheestimatedliabilitiesonthebalancesheetdateandadjuststhebookvaluetoreflectthecurrentbestestimate.
33.Share-basedpaymentsNotapplicable
34.Preferredshares,perpetualbondsandotherfinancialinstrumentsNotapplicable
35.RevenueAccountingpoliciesadoptedforrevenuerecognitionandmeasurementdisclosedbybusinesstype
(1)RecognitionofrevenueTheCompany'srevenuemainlyincludesrealestatesalesrevenue,propertymanagementrevenue,softwaresalesrevenue,rentalpropertyrevenue,etc.TheCompanyrecognizesrevenuewhenitfulfillsitsperformanceobligationsinthecontract,thatis,therevenueisrecognizedwhenthecustomerobtainstherightofcontroloverrelevantgoods.Obtainingrightofcontroloverrelevantgoodsmeansbeingabletodirecttheuseofthegoodsandobtainalmostalleconomicbenefitsfromthem.
(2)TheCompanydeterminesthatthenatureoftherelevantrevenueobligationsis"performanceobligationsperformedwithinacertainperiodoftime"or"performanceobligationsperformedatacertaintimepoint"basedontherelevantprovisionsoftherevenuestandards,andrecognizesrevenueinaccordancewiththefollowingprinciples.
1)IftheCompanymeetsoneofthefollowingconditions,itisconsideredtofulfillitsperformanceobligationswithinacertainperiodoftime:
①ThecustomerobtainsandconsumestheeconomicbenefitsbroughtbytheCompany'sperformanceatthesametimeastheCompanyperformsthecontract.
②ThecustomercancontrolovertheassetsunderconstructionduringtheCompany'sperformance.
③TheassetsproducedduringtheperformanceoftheCompanyhaveirreplaceableuses,andtheCompanyisentitledtocollectpaymentsfortheaccumulatedperformancecompletedtodatethroughoutthecontractperiod.Forperformanceobligationsperformedwithinacertainperiod,theCompanywillrecognizetherevenuebasedontheperformanceprogressduringthatperiodoftime,exceptwheretheperformanceprogresscannotbereasonablydetermined.Consideringthenatureofthegoods,theCompanydeterminestheappropriateperformanceprogressbytheoutputmethodortheinputmethod
2)Forperformanceobligationsthatarenotperformedwithinacertainperiodoftimeandareperformedatacertaintimepoint,theCompanyrecognizesrevenueatthetimepointwhenthecustomerobtainsthecontroloverrelevantgoods.
Whendeterminingwhetheracustomerhasobtainedcontrolovergoods,theCompanyconsidersthefollowingindications:
①TheCompanyhasthecurrentrighttoreceivethepaymentforthegoods,thatis,thecustomerhasthecurrentobligationtopayforthegoods.
②TheCompanyhastransferredthelegalownershipofthegoodstothecustomer,thatis,thecustomerpossessthelegalownershipofthegoods.
③TheCompanyhasphysicallytransferredthegoodstothecustomer,thatis,thecustomerhasphysicallytakenpossessionofthegoods.
④TheCompanyhastransferredthesignificantrisksandrewardsofownershipofthegoodstothecustomer,thatis,thecustomerhasobtainedthesignificantrisksandrewardsofownershipofthegoods.
⑤Thecustomerhasacceptedthegoods.
⑥Otherindicationsshowingthatthecustomerhasobtainedcontrolovergoods.
(3)SpecificpoliciesfortheCompany'srevenuerecognition
1)SpecificmethodsforrecognitionofrealestatesalesrevenueWhenthedevelopmentproducthasbeencompletedandaccepted,thesalescontracthasbeensignedandtheobligationsstipulatedinthecontracthavebeenfulfilled,aswellasthemainrisksandrewardsoftheownershipofthedevelopmentproducthavebeenmetatthesametime,theCompanynolongerretainsthecontinuingmanagementrightsusuallyassociatedwiththeownershipandeffectivecontrolofthesolddevelopmentproduct,theamountofrevenuecanbemeasuredreliably,therelevanteconomicbenefitsarelikelytoflowin,andtherelevantcostsincurredortobeincurredcanbemeasuredreliably,therealizationofsalesrevenueisrecognized.Iftherealestateconstructionhasbeenaccepted(withthecompletionacceptancereportobtained),anirreversiblesalescontracthasbeensigned,andthebuyer'spaymentcertificatehasbeenobtained(downpaymentandbankmortgagereceivedinfullifbankmortgageisinvolved;otherwise,fullhousingpaymentreceived),therevenueisrecognizedattheearlierofthedeliverydatespecifiedinthedeliverynotice(deliveryisdeemedcompletediftheformalitiesarenotcompletedwithinthespecifiedtimelimitduetotheowner'sreasons)andtheactualtimeoftakingoverbytheowner.
2)SpecificmethodsforrecognitionofpropertymanagementrevenueForpropertymanagementservicesprovidedbytheCompany,revenueisrecognizedaccordingtotheprogressofpropertyservicesprovided.
3)SpecificmethodsforrecognitionofrentalpropertyrevenueRevenueisrecognizedinaccordancewiththeleasingstandards.TheCompanyrecognizestherevenueonastraight-linebasisorotherreasonablemethodsovertheleasetermasstipulatedintheleasecontract.
4)Softwaresalesrevenue
①RecognitionandmeasurementmethodforsalesrevenuefromcustomizedsoftwareandindependentsoftwareproductsCustomizedsoftwarereferstothesoftwarespeciallydesigneddevelopedaccordingtotheactualneedsoftheuserbasedonathoroughfieldinvestigationoftheuser'sbusiness,inaccordancewiththesoftwaredevelopmentcontractsignedwiththecustomer.Suchsoftwareisnotuniversal.OnlywhenthegoodsproducedbytheCompanyintheperformanceprocesshaveirreplaceableuses,andtheCompanyhastherighttoreceivepaymentsfortheaccumulatedperformancecompletedsofarduringtheentirecontractperiod,therevenuewillberecognizedoveraperiodoftimeaccordingtotheprogressofthecompletedperformanceobligationsduringthecontractperiod.Theprogressofthecompletedperformanceobligationsshallbedeterminedaccordingtotheratiooftheactualcontract
costsincurredtocompletetheperformanceobligationstotheestimatedtotalcostofthecontract.Otherwise,therevenueisrecognizedwhenthecustomerobtainstherightofcontrolovertherelevantproduct.IfasalescontractissignedonindependentsoftwareproductsbetweentheCompanyandthecustomer,andthecustomerdirectlypurchasesthestandardversionofthesoftware,thatis,therealestateandfacilitymanagementplatform.Theimplementationpersonneldeploythecorrespondingmoduleaccordingtothecustomer'sneeds,whichisaperformanceobligationtobeperformedatacertaintimepoint.TheCompanywillrecognizetherevenueafterdeliveryoftheproductandthecustomerhasacceptedtheproduct.
②RecognitionandmeasurementmethodforrevenuefromsystemintegrationcontractSystemintegrationincludesthesalesandinstallationofpurchasedgoodsandsoftwareproducts.thesystemhasbeeninstalledanddebuggedandhasbeenputintotrialoperationorthepreliminaryinspectionreportofthepurchaserhasbeenobtained;theeconomicbenefitsassociatedwiththetransactioncanflowintotheenterprise;therevenueisrecognizedwhentherelevantrevenueandcostscanbemeasuredreliably.
③RecognitionandmeasurementmethodoftechnicalservicerevenueTechnicalservicemainlyreferstothebusinessofprovidingconsulting,implementationandafter-salesserviceofproductstocustomersaccordingtocontractrequirements.Iftheserviceperiodisagreedinthecontract,itshallberegardedastheperformanceobligationstobeperformedwithinacertainperiodoftime.Duringtheserviceprovisionperiod,therevenueshallberecognizedaccordingtotheserviceperiodagreedinthecontractandtheservicesettledwiththecustomer.
5)Otherbusinessrevenueisrecognizedwhentheperformanceobligationsinthecontractarefulfilled,thatis,whenthecustomerobtainstherelevantcontrolovergoods,accordingtotherelevantcontractsoragreements.
(4)MeasurementofrevenueTheCompanyshallmeasurerevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.Whendeterminingthetransactionprices,theCompanyconsiderstheimpactoffactorssuchasvariableconsideration,significantfinancingcomponentsinthecontract,non-cashconsideration,andconsiderationpayabletocustomers.
1)VariableconsiderationTheCompanydeterminesthebestestimateofavariableconsiderationbasedontheexpectedvalueorthemostlikelyamount,butthetransactionpricescontainingavariableconsiderationshallnotexceedtheamountofaccumulatedrecognizedrevenuethatishighlyunlikelytobesignificantlyreversedwhentherelevantuncertaintyiseliminated.Whenanenterpriseevaluateswhetheramajorreversalofaccumulatedrecognizedrevenueisveryunlikelytooccur,itshouldalsoconsiderthepossibilityandproportionofrevenuereversal.
2)SignificantfinancingcomponentIfthereisasignificantfinancingcomponentinthecontract,theCompanyshalldeterminethetransactionpricesaccordingtothepayableamountthatisassumedtobepaidincashbythecustomerwhenthecustomerobtainstherightofcontrolovergoods.Thedifferencebetweenthetransactionpriceandthecontractconsiderationshallbeamortizedusingeffectiveinterestmethodduringthecontractperiod.
3)Non-cashconsiderationIfthecustomerpaysnon-cashconsideration,theCompanyshalldeterminethetransactionpriceaccordingtothefairvalueofthenon-cashconsideration.Ifthefairvalueofthenon-cashconsiderationcannotbereasonablyestimated,theCompanydeterminesthetransactionpricesindirectlybyreferringtothestand-alonesellingpricesitpromisesfortransferringthegoodstothecustomer.
4)ConsiderationpayabletocustomersForconsiderationpayabletocustomers,theconsiderationpayableshouldbeoffsetagainstthetransactionprices,andshouldoffsetthecurrentrevenueatthelateroftherecognitionofrelevantrevenueandthepayment(orcommitmenttopay)ofthecustomerconsideration,exceptfortheconsiderationpayabletocustomersforobtainingotherclearlydistinguishablegoodsfromcustomers.Wheretheconsiderationpayabletoacustomerisforthepurposeofobtainingotherclearlydistinguishablegoodsfromthecustomer,thepurchasedgoodsshallberecognizedinamannerconsistentwithotherpurchasesbytheCompany.Iftheconsiderationpayablebyanenterprisetoacustomerexceedsthefairvalueofclearlydistinguishablegoodsobtainedfromthecustomer,theexcessamountshallbeoffsetagainstthetransactionprices.Ifthefairvalueofclearlydistinguishablegoodsobtainedfromcustomerscannotbereasonablyestimated,theenterpriseshalloffsetthefullamountoftheconsiderationpayabletocustomersagainstthetransactionprices.Differentrevenuerecognitionmethodsandmeasurementmethodsinvolvedintheuseofdifferentbusinessmodelsforsimilarbusiness
36.ContractcostsContractcostsaredividedintocontractperformancecostsandcontractacquisitioncosts.IfthecostincurredbytheCompanytoperformthecontractmeetthefollowingconditionsatthesametime,itshallberecognizedasanassetasthecontractperformancecost:
(1)Thecostisdirectlyrelatedtoacurrentcontractoranexpectedcontracttobeobtained,includingdirectlabor,directmaterials,manufacturingoverhead(orsimilarexpenses),costsexpresslybornebythecustomer,andothercostsincurredsolelyduetothecontract;
(2)Thecostincreasestheresourcesthattheenterprisewillusetofulfillitsperformanceobligationsinthefuture;
(3)Suchcostisexpectedtoberecovered.IftheincrementalcostsincurredbytheCompanytoobtainthecontractareexpectedtoberecovered,theincrementalcostsshallberecognizedasanassetasthecontractacquisitioncost;however,iftheassetamortizationperioddoesnotexceedoneyear,itcanbeincludedinthecurrentprofitorlosswhenitoccurs.Assetsrelatedtothecontractcostsareamortizedonthesamebasisastherecognitionoftherevenueofthegoodsorservicesrelatedtotheasset.Ifthebookvalueoftheassetsrelatedtothecontractcostsishigherthanthedifferencebetweenthefollowingtwoitems,theCompanywillmakeprovisionforimpairmentfortheexcessandrecognizeitasassetimpairmentloss:
(1)Theremainingconsiderationexpectedtobeobtainedbythetransferofgoodsorservicesrelatedtotheassets;
(2)Theestimatedcosttobeincurredforthetransferoftherelevantgoodsorservices.Iftheaboveprovisionforassetimpairmentissubsequentlyreversed,thebookvalueoftheassetafterthereversalshallnotexceedthebookvalueoftheassetonthereversaldateundertheassumptionthatnoprovisionforimpairmentismade.
37.Governmentsubsidies
(1)Governmentsubsidiesarerecognizedwhenthefollowingconditionsaremetatthesametime:1)theCompanycanmeettheconditionsattachedtothegovernmentsubsidies;2)theCompanycanreceivegovernmentsubsidies.Thegovernmentsubsidiesconsideredasmonetaryassetsaremeasuredattheamountreceivedorreceivable.Ifgovernmentsubsidiesarenon-monetaryassets,they
shallbemeasuredatfairvalue;ifthefairvaluecannotbeobtainedreliably,itshallbemeasuredatthenominalamount.
(2)Judgmentbasisandaccountingtreatmentsofasset-relatedgovernmentsubsidiesGovernmentsubsidiesusedfortheacquisition,constructionorotherwiseforminglong-termassetsasspecifiedingovernmentdocumentsshallbeclassifiedasasset-relatedgovernmentsubsidies.Ifthereisnorelevantclearstipulationinthegovernmentdocument,thejudgmentshallbemadeonthebasisofthebasicconditionsthatmustbemettoobtainthesubsidy,andifthebasicconditionisforminglong-termassetsthroughpurchase,constructionorothermeans,itshallbedeemedasasset-relatedgovernmentsubsidies.Asset-relatedgovernmentsubsidiesshallbeusedtooffsetthebookvalueofrelevantassetsorrecognizedasdeferredincome.Iftheasset-relatedgovernmentsubsidiesarerecognizedasdeferredincome,theyshallbeincludedintheprofitorlossbystagesinareasonableandsystematicmannerwithintheservicelifeoftherelevantassets.Governmentsubsidiesmeasuredaccordingtothenominalamountaredirectlyincludedincurrentprofitorloss.Iftherelevantassetsaresold,transferred,scrappedordamagedbeforetheendoftheirservicelife,theundistributedbalanceofrelevantdeferredincomewillbetransferredtotheprofitorlossofthecurrentperiodofassetdisposal.
(3)Judgmentbasisandaccountingtreatmentsofincome-relatedgovernmentsubsidiesGovernmentsubsidiesotherthanthoserelatedtoassetsshallbeclassifiedasincome-relatedgovernmentsubsidies.Forgovernmentsubsidiesthatcontainbothasset-relatedpartsandincome-relatedparts,ifitisdifficulttodistinguishwhethertheyareasset-relatedorincome-related,theywillbeclassifiedasincome-relatedgovernmentsubsidiesasawhole.Income-relatedgovernmentsubsidiesusedtocompensateforrelevantcostsorlossesinsubsequentperiods,shallberecognizedasdeferredincome,andshallbeincludedinthecurrentprofitorlossorusedtooffsetrelevantcostsduringtheperiodwhenrelevantcostsorlossesarerecognized;iftheyareusedtocompensatetherelevantcostsorlossesincurred,theyshallbedirectlyincludedinthecurrentprofitorlossorusedtooffsettherelevantcosts.
(4)GovernmentsubsidiesrelatedtothedailyoperatingactivitiesoftheCompanyshallbeincludedinotherincomeoroffsetagainstrelevantcostsaccordingtotheessenceofeconomicbusiness.GovernmentsubsidiesunrelatedtothedailyactivitiesoftheCompanyshallbeincludedinthenon-operatingincomeorexpenditure.Forrecognizedgovernmentsubsidiestobereturned,ifthebookvalueoftherelevantassetsisoffsetatinitialrecognition,thebookvalueoftheassetsshallbeadjusted;ifthereisarelevantdeferredincomebalance,thebookbalanceoftherelevantdeferredincomeshallbeoffset,andtheexcessshallbeincludedinthecurrentprofitorloss;ifitfallsunderothercircumstances,itshallbedirectlyincludedinthecurrentprofitorloss.
38.Deferredtaxassets/deferredtaxliabilities
(1)Accordingtothetemporarydifferencesbetweenthebookvalueofassetsandliabilitiesandtheirtaxbases(ifthetaxbaseofitemsnotrecognizedasassetsandliabilitiescanbedeterminedinaccordancewithtaxlaws,thedifferencebetweenthetaxbaseandthebookvalue),thedeferredtaxassetsordeferredtaxliabilitiesarecalculatedandrecognizedaccordingtotheapplicabletaxrateduringtheperiodwhentheassetsareexpectedtoberecoveredortheliabilitiesaresettled.
(2)Deferredtaxassetsarerecognizedtotheextentofthetaxableincomethatislikelytobeobtainedtooffsetthedeductibletemporarydifferences,unlessthedeductibletemporarydifferencesarisefromthefollowingtransactions:
1)Thetransactionisnotabusinesscombination,andthetransactiondoesnotaffectaccountingprofitortaxableincome(ordeductiblelosses)whenitoccurs;
2)Fordeductibletemporarydifferencesrelatedtosubsidiaries,jointventuresandinvestmentsinassociates,thecorrespondingdeferredtaxassetsshallberecognizedifthefollowingconditionsaremetatthesametime:thetemporarydifferencesarelikelytobereversedintheforeseeablefuture,andthetaxableincomeusedtooffsetthedeductibletemporarydifferencesislikelytobeobtainedinthefuture.
Onthebalancesheetdate,ifthereisconclusiveevidenceindicatingthatsufficienttaxableincomeislikelytobeobtainedinthefutureperiodtooffsetthedeductibletemporarydifferences,deferredtaxassetsthathavenotbeenrecognizedinpreviousaccountingperiodsisrecognized.
(3)Alltaxabletemporarydifferencesarerecognizedasrelevantdeferredtaxliabilities,exceptfortaxabletemporarydifferencesarisinginthefollowingtransactions:
Theinitialrecognitionofgoodwill,ortheinitialrecognitionofassetsorliabilitiesarisingfromtransactionswiththefollowingcharacteristics:thetransactionisnotabusinesscombination,andthetransactiondoesnotaffectaccountingprofitortaxableincome(ordeductiblelosses)whenitoccurs.Taxabletemporarydifferencesrelatedtoinvestmentsinsubsidiaries,jointventuresandassociates,providedthatthetimingofthereversalofthesetemporarydifferencescanbecontrolledandthetemporarydifferencesareunlikelytobereversedintheforeseeablefuture.
(4)Onthebalancesheetdate,thebookvalueofdeferredtaxassetsisreviewed.Ifitislikelytoearnsufficienttaxableincomeinthefuturetooffsetthebenefitsofdeferredtaxassets,thebookvalueofdeferredtaxassetsiswrittendown.Whenitislikelytoearnsufficienttaxableincome,thewrittendownamountisreversed.
(5)TheCompany'scurrentincometaxanddeferredincometaxesareincludedinthecurrentprofitorlossasincometaxexpensesorincome,butdonotincludeincometaxarisingfromthefollowingcircumstances:1)businesscombination;2)transactionsoreventsdirectlyrecognizedintheowners'equity.
39.Lease
(1)AccountingtreatmentsforleasesinwhichtheCompanyisthelesseeOntheleasecommencementdate,theCompanyrecognizesleasesthatdonotexceed12monthsanddonotincludepurchaseoptionsasshort-termleases;ifthesingleleasedassetsarenewandwithalowvalue,theleasesarerecognizedasleasesoflowvalueassets.IftheCompanysubleasesorexpectstosubleasetheleasedassets,theoriginalleasesshallnotberecognizedasleasesoflowvalueassets.Forallshort-termleasesandleasesoflowvalueassets,theCompany,duringeachperiodoftheleaseterm,includestheleasepaymentsintotherelevantassetcostorthecurrentprofitorlossaccordingtothestraight-linemethod.Exceptfortheabove-mentionedshort-termleasesandleasesoflowvalueassetswithsimplifiedtreatment,theCompanyrecognizestheright-of-useassetsandleaseliabilitiesfortheleaseontheleasecommencementdate.
1)Right-of-useassetsRight-of-useassetsareinitiallymeasuredatcost,whichincludes:1)theinitialmeasurementamountoftheleaseliabilities;2)theleasepaymentsmadeonorbeforetheleasecommencementdate,ortherelevantamountafterdeductingtheleaseincentivealreadyenjoyedifany;3)initialdirectcostsincurredbythelessee;4)thecostsexpectedtobeincurredbythelesseefordismantlingandremovingtheleasedassets,restoringthesitewheretheleasedassetsarelocatedorrestoringtheleasedassetstotheconditionagreedintheleaseterms.TheCompanydepreciatestheright-of-useassetsaccordingtothestraight-linemethod.Ifitcanbereasonablydeterminedthattheownershipofleasedassetswillbeacquiredupontheexpirationoftheleaseterm,theCompanydepreciatestheleasedassetsovertheirremainingservicelife.Ifitcannotbereasonablydeterminedthattheownershipofleasedassetswillbeacquiredupontheexpirationoftheleaseterm,theCompanydepreciatestheleasedassetsduringtheshorteroftheleasetermandtheremainingservicelifeoftheleasedassets.
2)LeaseliabilitiesOntheleasecommencementdate,theCompanyrecognizesthepresentvalueoftheunpaidleasepaymentsasleaseliabilities.Whencalculatingthepresentvalueofleasepayments,theinterestrate
implicitinleaseisusedasthediscountrate.Iftheimplicitinterestrateoftheleasecannotbedetermined,theincrementalborrowingrateoftheCompanyisusedasthediscountrate.Thedifferencebetweentheleasepaymentsanditspresentvalueisrecognizedasunrecognizedfinancingexpenses,andtheinterestexpensesarerecognizedatthediscountrateofthepresentvalueoftherecognizedleasepaymentsineachperiodoftheleasetermandincludedinthecurrentprofitorloss.Variableleasepaymentsnotincludedinthemeasurementofleaseliabilitiesareincludedinthecurrentprofitorlosswhenactuallyincurred.Aftertheleasecommencementdate,theCompanyremeasurestheleaseliabilitybasedonthepresentvalueofthechangedleasepaymentsincaseofanychangeinbelowitems:actualfixedpaymentamount,estimatedamountpayableoftheguaranteedresidualvalue,theindexorratiousedtodeterminetheleasepayments,ortheevaluationresultoractualexerciseofthepurchaseoption,renewaloptionorterminationoption.Insuchcases,thebookvalueoftheright-of-useassetsisalsoadjustedaccordingly.Ifthebookvalueoftheright-of-useassetshasbeenreducedtozero,buttheleaseliabilitiesstillneedtobefurtherreduced,theremainingamountisincludedinthecurrentprofitorloss.Ifthereisamodificationintheleaseandthefollowingconditionsaremetsimultaneously,theCompanyaccountsfortheleasemodificationasaseparatelease:①theleasechangeexpandstheleasescopebyaddingtherightofuseononeormoreleasedassets;②theincreasedconsiderationisequivalenttotheamountoftheseparatepriceoftheexpandedpartoftheleasescopeadjustedaccordingtothecontractconditions.Iftheleasemodificationisnotaccountedforasaseparatelease,ontheeffectivedateoftheleasemodification,theCompanyre-apportionstheconsiderationofthemodifiedcontract,re-determinestheleaseterm,andre-measurestheleaseliabilitiesatthepresentvaluecalculatedatthemodifiedleasepaymentsandthereviseddiscountrate.Ifaleasemodificationresultsinareducedscopeoftheleaseorashortenedleaseterm,theCompanyreducesthebookvalueoftheright-of-useassetsaccordinglyandrecognizesthegainorlossrelatedtothepartialorcompleteterminationofleasesincurrentprofitorloss.Ifthereareotherleasemodificationsthatresultinare-measurementofleaseliabilities,theCompanyadjuststhebookvalueofright-of-useassetsaccordingly.
(2)AccountingtreatmentsforleasesinwhichtheCompanyisthelessorOntheleasecommencementdate,theCompanyclassifiesleasesthathaveessentiallytransferredalmostallrisksandrewardsrelatedtotheownershipofleasedassetsasfinancingleases,whileallotherleasesareclassifiedasoperatingleases.
1)OperatingleasesDuringeachperiodoftheleaseterm,theCompanyrecognizestheleasereceiptsasrentalincomeaccordingtothestraight-linemethod,andtheinitialdirectcostsincurredinconnectionwiththeoperatingleasesarecapitalizedandamortizedonthesamebasisastherecognitionofrentalincome,andincludedinthecurrentprofitorlossininstallments.ThevariableleasepaymentsrelatedtooperatingleasesobtainedbytheCompanybutnotyetincludedintheleasereceiptsareincludedinthecurrentprofitorlosswhenactuallyincurred.
2)FinancingleasesOntheleasecommencementdate,theCompanyrecognizesthefinancingleasereceivablesaccordingtothenetleaseinvestment(thesumoftheunguaranteedresidualvalueandthepresentvalueoftheleasereceiptsnotreceivedontheleasecommencementdatediscountedattheinterestrateimplicitinlease),andderecognizesthefinancingleaseassets.Duringeachperiodoftheleaseterm,theCompanycalculatesandrecognizestheinterestincomeattheinterestrateimplicitinlease.ThevariableleasepaymentsobtainedbytheCompanybutnotyetincludedinthemeasurementofnetleaseinvestmentareincludedinthecurrentprofitorlosswhenactuallyincurred.
3)Leasemodification
Incaseofanymodificationsinoperatingleases,theCompanyaccountsforthemodifiedleaseasanewleasefromtheeffectivedateofthemodification,andtheadvanceorreceivableleasereceiptsrelatedtotheleasebeforethemodificationisregardedasthereceiptamountofthenewlease.Ifthereisamodificationinthefinancingleaseandthefollowingconditionsaremetsimultaneously,theCompanyaccountsforthemodificationasaseparatelease:①themodificationexpandsthescopeoftheleasebyaddingtherightofuseofoneormoreleasedassets;②theincreasedconsiderationisequivalenttotheamountoftheseparatepriceoftheexpandedpartoftheleasescopeadjustedaccordingtothecontractconditions.Ifthemodificationinthefinancingleaseisnotaccountedforasaseparatelease,theCompanytreatsthemodifiedleaserespectivelyaccordingtothefollowingcircumstances:①ifthemodificationtakeseffectontheleasecommencementdateandtheleaseisclassifiedasoperatingleases,theCompanyaccountsforitasanewleasefromtheeffectivedateoftheleasemodificationandtakesthenetleaseinvestmentbeforetheeffectivedateoftheleasemodificationasthebookvalueoftheleasedassets;②ifthemodificationtakeseffectontheleasecommencementdate,theleasewillbeclassifiedasafinancinglease,andtheCompanyaccountsforitinaccordancewiththeprovisionsofAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstrumentsonmodifyingorrenegotiatingthecontract.
4)SubleaseWhentheCompanyactsasasubleaselessor,theoriginalleasecontractandthesubleasecontractareaccountedforseparatelyaccordingtotheaccountingtreatmentrequirementsofthelesseeandthelessor.Iftheoriginalleaseisashort-termleasesandsimplifiedaccountingtreatmentshavebeenadopted,thesubleaseisclassifiedasoperatingleases.
(3)SaleandleasebackTheCompany,inaccordancewiththeprovisionsofAccountingStandardsforBusinessEnterprisesNo.14-Revenue,evaluatesanddetermineswhetherthetransferofassetsinthesaleandleasebacktransactionsisasale.Ifthetransferofassetsinthesaleandleasebacktransactionsisasale,thelesseemeasurestheright-of-useassetsarisingfromthesaleandleasebackaccordingtothepartofthebookvalueoftheoriginalassetsrelatedtotherightofuseobtainedfromtheleaseback,andonlyrecognizestherelevantgainsorlossesontherightstransferredtothelessor.ThelessoraccountsforassetpurchaseinaccordancewithotherapplicableaccountingstandardsforbusinessenterprisesandconductsaccountingtreatmentfortheassetleaseinaccordancewithAccountingStandardsforBusinessEnterprisesNo.21-Leases.Ifthetransferofassetsinthesaleandleasebacktransactionsisnotasale,thelesseecontinuestorecognizethetransferredassets,andrecognizesthefinancialliabilitiesequaltothetransferrevenue.Meanwhile,thelesseeaccountsforthefinancialliabilitiesinaccordancewithAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments.Thelessordoesnotrecognizethetransferredassets,butrecognizesfinancialassetsequaltotherevenuetransferred.ItalsoaccountsforthatfinancialassetinaccordancewithAccountingStandardsforBusinessEnterprisesNo.22-RecognitionandMeasurementofFinancialInstruments.
40.Othermajoraccountingpoliciesandaccountingestimates
41.Majorchangesinaccountingpoliciesandaccountingestimates
(1)Majorchangesinaccountingpolicies
□Applicable?Notapplicable
(2)Majorchangesinaccountingestimates
□Applicable?Notapplicable
(3)Adjustmentsofrelevantitemsoffinancialstatementsatthebeginningoftheyearintheyearofinitialimplementationofnewaccountingstandardsfrom2025
□Applicable?Notapplicable
42.OthersVI.Taxation
1..Maintaxtypesandtaxrates
| Taxtype | Taxbasis | Taxrate |
| Value-addedtax | Salesofgoodsorprovisionoftaxableservices | [Note1] |
| Consumptiontax | Taxablepriceofsalesrevenuefromtaxableconsumergoods | 5% |
| Urbanmaintenanceandconstructiontax | Turnovertaxpayable | Apply7%,5%,and1%respectivelybyregionallevel |
| Corporateincometax | Taxableincome | 25%、20%、15%、16.5% |
| Landvalueincrementtax | Valueaddedfromthepaidtransferofthestate-ownedlanduserightandthepropertyrightsoftheabove-groundbuildingsandotherattachments | 30%-60% |
| Propertytaxes | Ifitisleviedonanadvalorembasis,itshallbecalculatedandpaidat1.2%oftheresidualvalueaftertheoriginalvalueofthepropertyisdeductedby30%atonetime;ifleviedbylease,itiscalculatedandpaidat12%ofrentalincome | 1.2%、12% |
| Educationsurcharge | Turnovertaxpayable | 3% |
| Localeducationsurcharges | Turnovertaxpayable | 2% |
Iftherearetaxpayerswithdifferentcorporateincometaxrates,pleasedisclosewithanexplanation
| Nameoftaxpayer | Incometaxrate |
| ChongqingShenguomaoRealEstateManagementCo.,Ltd. | 15% |
| ChongqingBranchofShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | 15% |
| ShenzhenFacilityManagementCommunityCo.,Ltd. | 15% |
| ShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd. | 20% |
| ShenzhenJinhailianPropertyManagementCo.,Ltd. | 20% |
| ShenzhenKangpingIndustrialCo.,Ltd. | 20% |
| ShenzhenJiaoshizhijiaTrainingCo.,Ltd. | 20% |
| ShenzhenEducationIndustryCo.,Ltd. | 20% |
| ShenzhenYufaIndustrialCo.,Ltd. | 20% |
| Nameoftaxpayer | Incometaxrate |
| ChongqingAoboElevatorCo.,Ltd. | 20% |
| ShenzhenSZPRDFuyuantaiDevelopmentCo.,Ltd. | 20% |
| ShenzhenFuyuanminPropertyManagementCo.,Ltd. | 20% |
| ShenzhenMeilongIndustrialDevelopmentCo.,Ltd. | 20% |
| ShenzhenSportsServiceCo.,Ltd. | 20% |
| ShenzhenPenghongyuanIndustrialDevelopmentCo.,Ltd. | 20% |
| ShenzhenInternationalTradeCenterMechanicalandElectricalEquipmentCo.,Ltd. | 20% |
| ShenzhenHelinhuaConstructionManagementCo.,Ltd. | 20% |
| ShenzhenITCTonglePropertyManagementCo.,Ltd. | 20% |
| ShenzhenForeignTradePropertyManagementCo.,Ltd. | 20% |
| ShenzhenFubaoUrbanResourcesManagementCo.,Ltd. | 20% |
| ShenzhenShenwuElevatorCo.,Ltd. | 20% |
| ShenzhenShenfangPropertyCleaningCo.,Ltd. | 20% |
| ShandongShenzhenITCHotelManagementCo.,Ltd. | 20% |
| ShenzhenJiayuanPropertyManagementCo.,Ltd. | 20% |
| ShenzhenITCShenlvGardenCo.,Ltd. | 20% |
| BeijingFacilityManagementCommunityTechnologyCo.,Ltd. | 20% |
| ShenzhenITCSpaceServiceCo.,Ltd. | 20% |
| ShenzhenGuomaoCateringCo.,Ltd. | 20% |
| AsubsidiaryregisteredinHongKong | 16.50% |
| AsubsidiaryregisteredinVietnam | 20% |
| Othertaxpayerswithintheconsolidationscope | 25% |
2.Taxincentives
(1)AccordingtotheprovisionsofArticle2Propertyserviceofthe37thcategoryofcommercialserviceindustryintheincentivecategoryoftheGuidanceCatalogueofIndustrialStructureAdjustment(2011Edition)(GJFGWNo.9)issuedbytheNationalDevelopmentandReformCommission,theeligiblewesternChinaenterprisesshallbesubjecttoacorporateincometaxatareducedtaxrateof15%.TheabovepolicyappliestosubsidiariesChongqingShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.andtheChongqingBranchofShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.
(2)ShenzhenFacilityManagementCommunityCo.,Ltd.passedthere-inspectionforhigh-techcertificationonDecember25,2025.ThecertificatenumberisGR202544204121,andthevalidityperiodisthreeyears.Accordingtothetaxlaw,thepreferentialcorporateincometaxrateof15%appliesfor2025.
(3)AccordingtotheAnnouncementonPreferentialIncomeTaxPoliciesforSmallandMicroEnterprisesandIndividualBusinessEntities(CZBSWZJGG[2023]No.6)issuedbytheMinistryofFinanceandtheStateTaxationAdministration,andaccordingtotheAnnouncementonTaxPoliciesforFurtherSupportingtheDevelopmentofSmallandMicroEnterprisesandIndividualBusinessEntities(CZBSWZJGG[2023]No.12)issuedbytheMinistryofFinanceandtheStateTaxationAdministration,smalllow-profitenterprisesenjoyacorporateincometaxreductionwith25%oftheactualcorporateincomeforcalculatingtaxableincome,and20%asthetaxrate.Theresourcetax(excludingwaterresourcestax),urbanmaintenanceandconstructiontax,housingtax,urbanlandusetax,stampduty(excludingstampdutyonsecuritiestransactions),farmlandoccupationtax,educationsurchargeand
localeducationsurchargeshallbehalvedforsmall-scalevalue-addedtaxpayers,smalllow-profitenterprisesandindividualbusinessentities,withthevalidityperiodfromJanuary1,2023toDecember31,2027.Atotalof25subsidiaries,includingShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd.andShenzhenGuoGuangMechanicalandElectricalEquipmentCo.,Ltd.,areeligibleforthepolicy.
3.Others
Note1TheVATtaxableitemsandtaxratesoftheCompanyanditssubsidiariesareshowninthetablebelow:
| Revenuetype | Generaltaxrate | Simplifiedtaxrate |
| Realestatesalesrevenue | 9% | 5% |
| Realestaterentalrevenue | 9% | 5% |
| Propertyservicerevenue | 6% | 3% |
| Cateringservicerevenue | 6% | 3% |
| Others | 13% | -- |
VII.Notestoitemsinconsolidatedfinancialstatements
1.Monetaryfunds
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Cashonhand | 7,741.04 | 10,705.64 |
| Bankdeposits | 2,118,358,257.70 | 1,672,092,309.74 |
| Othermonetaryfunds | 5,977,057.45 | 6,013,628.74 |
| Total | 2,124,343,056.19 | 1,678,116,644.12 |
| Including:totalamountdepositedabroad | 72,004,602.45 | 68,560,621.79 |
Otherexplanations:
Attheendoftheperiod,theamountofrestrictedfundsduetomortgage,pledge,freezing,etc.isRMB82,297,671.21,mainlyincludingguaranteeandinterestofRMB4,274,845.35;therestrictedfundsinthebankdepositsmainlyincludethefrozenfundsofRMB3,662,969andtheprincipalandinterestoftimedepositsofRMB74,359,856.86;theaboveamountisnottreatedascashandcashequivalentsduetorestrictionsonuse.ThefundsdepositedoverseasaremainlythebalanceofmonetaryfundsoftheoverseassubsidiariesShumYipPropertiesDevelopmentLimitedandVietnamShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.
2.Financialassetsheldfortrading
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Financialassetsmeasuredatfairvaluethroughcurrentprofitorloss | 301,765,714.20 | 0.00 |
| Including: | ||
| Fund | 301,765,714.20 | 0.00 |
| Including: | ||
| Total | 301,765,714.20 | 0.00 |
Otherexplanations:
3.Derivativefinancialassets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Otherexplanations:
4.Notesreceivable
(1)Presentationofnotesreceivablebycategory
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(2)Disclosurebyprovisionmethodforbaddebts
Unit:RMB
| Type | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
| Amount | Ratio | Amount | Provisionratio | Amount | Ratio | Amount | Provisionratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
| Total | 0.00 | |||||||||
Iftheprovisionforbaddebtsofnotesreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiodProvisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
Significantamountsofrecoveredorreversedprovisionforbaddebtsforthecurrentperiod:
□Applicable?Notapplicable
(4)TheCompany'spledgednotesreceivableattheendoftheperiod
Unit:RMB
| Item | Endingpledgedamount |
(5)NotesreceivableendorsedordiscountedbytheCompanyandnotyetdueonthebalancesheetdateattheendoftheperiod
Unit:RMB
| Item | Endingderecognizedamount | Endingun-derecognizedamount |
(6)Actualwrite-offofnotesreceivableforthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Includingwrite-offofimportantnotesreceivable:
Unit:RMB
| Entityname | Natureofnotesreceivable | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationonwrite-offofnotesreceivable:
5.Accountsreceivable
(1)Disclosurebyaging
Unit:RMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(including1year) | 331,346,057.76 | 305,894,933.54 |
| 1-2years | 50,307,314.79 | 176,468,618.29 |
| 2to3years | 50,027,964.10 | 19,438,565.01 |
| Over3years | 148,389,020.09 | 136,095,567.36 |
| 3-4years | 15,953,363.30 | 9,641,324.19 |
| 4to5years | 7,997,208.13 | 9,475,754.83 |
| Over5years | 124,438,448.66 | 116,978,488.34 |
| Total | 580,070,356.74 | 637,897,684.20 |
(2)Disclosurebyprovisionmethodforbaddebts
Unit:RMB
| Type | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
| Amount | Ratio | Amount | Provisionratio | Amount | Ratio | Amount | Provisionratio | |||
| Accountsreceivablewithprovisionforbaddebtsonanindividualbasis | 115,279,907.77 | 19.87% | 113,236,988.45 | 98.23% | 2,042,919.32 | 114,667,552.55 | 17.98% | 112,621,632.99 | 98.22% | 2,045,919.56 |
| Including: | ||||||||||
| Accountsreceivablewithprovisionforbaddebtsonacombinationbasis | 464,790,448.97 | 80.13% | 49,049,097.85 | 10.55% | 415,741,351.12 | 523,230,131.65 | 82.02% | 49,261,321.61 | 9.41% | 473,968,810.04 |
| Including: | ||||||||||
| Total | 580,070,356.74 | 100.00% | 162,286,086.30 | 27.98% | 417,784,270.44 | 637,897,684.20 | 100.00% | 161,882,954.60 | 25.38% | 476,014,729.60 |
Provisionforbaddebtsaccruedonanindividualbasis:RMB113,236,988.45
Unit:RMB
| Name | Beginningbalance | Endingbalance | ||||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | Provisionratio | Reasonsforprovision | |
| ShenzhenJiyongPropertyDevelopmentCo.,Ltd. | 93,811,328.05 | 93,811,328.05 | 93,811,328.05 | 93,811,328.05 | 100.00% | Involvedinlitigationandirrecoverable |
| ShenzhenTeweiIndustrialCo.,Ltd.(ChenhuiBuilding) | 2,836,561.00 | 2,836,561.00 | 2,836,561.00 | 2,836,561.00 | 100.00% | Estimatedtobeirrecoverable |
| ShenzhenLunanIndustrialDevelopmentCompany | 2,818,284.84 | 2,818,284.84 | 2,818,284.84 | 2,818,284.84 | 100.00% | Estimatedtobeirrecoverable |
| ShenzhenHampooElectronicTechnologyDevelopmentCo.,Ltd. | 1,436,020.29 | 1,433,070.29 | 1,436,020.29 | 1,433,070.29 | 99.79% | Estimatedtobeirrecoverable |
| Accountsreceivablewithinsignificantsingleamountbutsubjecttoprovisionforbaddebtsonanindividualbasis | 13,765,358.37 | 11,722,388.81 | 14,377,713.59 | 12,337,744.27 | 85.81% | Failedtorecoverforalongtime |
| Total | 114,667,552.55 | 112,621,632.99 | 115,279,907.77 | 113,236,988.45 | ||
Provisionforbaddebtsaccruedoncombination:RMB49,049,097.85
Unit:RMB
| Name | Endingbalance | ||
| Bookbalance | Provisionforbaddebts | Provisionratio | |
| Creditriskcharacteristiccombination | 426,573,281.51 | 49,049,097.85 | 11.50% |
| Governmentfundingcombination | 38,217,167.46 | 0.00% | |
| Total | 464,790,448.97 | 49,049,097.85 |
Explanationonthebasisfordeterminingthecombination:
Iftheprovisionforbaddebtsofaccountsreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiodProvisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
| Provisionforbaddebtsaccruedonanindividualbasis | 112,621,632.99 | 615,355.46 | 113,236,988.45 | |||
| Provisionforbaddebtsmadebyportfolio | 49,261,321.61 | -212,223.76 | 49,049,097.85 | |||
| Total | 161,882,954.60 | 403,131.70 | 162,286,086.30 | |||
Significantamountsofrecoveredorreversedprovisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
(4).Actualwrite-offofaccountsreceivableforthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Includingwrite-offofimportantaccountsreceivable:
Unit:RMB
| Entityname | Natureofaccountsreceivable | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationonwrite-offofaccountsreceivable:
(5)Topfiveaccountsreceivablebythedebtorintermsoftheendingbalanceandcontractassets
Unit:RMB
| Entityname | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalancesofaccountsreceivableandcontractassets | Ratiotothetotalamountofendingbalanceofaccountsreceivableandcontractassets(%) | Endingbalanceofprovisionforbaddebtsofaccountsreceivableandprovisionforimpairmentofcontractassets |
| ShenzhenJiyongPropertyDevelopmentCo.,Ltd. | 93,811,328.05 | 93,811,328.05 | 16.16% | 93,811,328.05 | |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 48,340,136.25 | 48,340,136.25 | 8.33% | 1,450,204.09 | |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | 36,368,442.21 | 36,368,442.21 | 6.26% | 4,830,885.75 | |
| ShenzhenFutianDistrictGovernmentPropertyManagementCenter | 21,378,880.28 | 21,378,880.28 | 3.68% | ||
| ShenzhenSportsCenterOperationManagementCo.,Ltd. | 13,143,133.25 | 13,143,133.25 | 2.26% | 394,294.00 | |
| Total | 213,041,920.04 | 213,041,920.04 | 36.69% | 100,486,711.89 |
6.Contractassets
(1)Detailsofcontractassets
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |
| Qualityguaranteedepositformunicipalworks | 580,850.15 | 580,850.15 | 468,765.62 | 468,765.62 | ||
| Total | 580,850.15 | 580,850.15 | 468,765.62 | 468,765.62 | ||
(2)Majorchangesofbookvalueduringthereportingperiodandreasons
Unit:RMB
| Item | Changes | Reasonforchanges |
(3).Disclosurebyprovisionmethodforbaddebts
Unit:RMB
| Type | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
| Amount | Ratio | Amount | Provisionratio | Amount | Ratio | Amount | Provisionratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Theprovisionforbaddebtsmadeaccordingtothegeneralmodelofexpectedcreditlosses
□Applicable?Notapplicable
(4)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiod
Unit:RMB
| Item | Provisionforthecurrentperiod | Recoveredorreversedforthecurrentperiod | Write-off/cancellationafterverificationforthecurrentperiod | Reasons |
Significantamountsofrecoveredorreversedprovisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
Otherexplanations:
(5).Actualwrite-offofcontractassetsforthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Includingwrite-offofimportantcontractassets
Unit:RMB
| Entityname | Natureofpayment | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationonwrite-offofcontractassets:
Otherexplanations:
7.Receivablesfinancing
(1)Presentationofreceivablesfinancingbycategory
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(2)Disclosurebyprovisionmethodforbaddebts
Unit:RMB
| Type | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
| Amount | Ratio | Amount | Provisionratio | Amount | Ratio | Amount | Provisionratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Theprovisionforbaddebtsmadeaccordingtothegeneralmodelofexpectedcreditlosses
Unit:RMB
| Provisionforbaddebts | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesoverthenext12months | Expectedcreditlossthroughouttheduration(withoutcreditimpairment) | Expectedcreditlossthroughouttheduration(withcreditimpairment) | ||
| BalanceasofJanuary1,2025inthecurrentperiod |
BasisfordivisionofeachstageandratioofprovisionforbaddebtsExplanationonsignificantchangesinthebookbalanceofreceivablesfinancingduetochangesinprovisionforlossforthecurrentperiod:
(3)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiod
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Resaleorwrite-off | Otherchanges | |||
Significantamountsofrecoveredorreversedprovisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
Otherexplanations:
(4)TheCompany'spledgedreceivablesfinancingattheendoftheperiod
Unit:RMB
| Item | Endingpledgedamount |
(5)ReceivablesfinancingendorsedordiscountedbytheCompanyandnotyetdueonthebalancesheetdateattheendoftheperiod
Unit:RMB
| Item | Endingderecognizedamount | Endingun-derecognizedamount |
(6)Actualwrite-offofreceivablesfinancingforthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Includingwrite-offofimportantreceivablesfinancing
Unit:RMB
| Entityname | Natureofpayment | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationonwrite-off:
(7)Increases/decreasesandfairvaluechangesofreceivablesfinancingforthecurrentperiod
(8)Otherexplanations
8.Otherreceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Otherreceivables | 267,565,109.11 | 273,333,289.51 |
| Total | 267,565,109.11 | 273,333,289.51 |
(1)Interestreceivable
1)Classificationofinterestreceivable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
2)Significantoverdueinterest
Unit:RMB
| Borrower | Endingbalance | Overduetime | Reasonforoverdue | Whetherimpairmentoccursandthebasisforjudgment |
Otherexplanations:
3)Disclosurebyprovisionmethodforbaddebts
□Applicable?Notapplicable
4)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiod
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Resaleorwrite-off | Otherchanges | |||
Significantamountsofrecoveredorreversedprovisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
Otherexplanations:
5)Actualwrite-offofinterestreceivableforthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Includingwrite-offofimportantinterestreceivable
Unit:RMB
| Entityname | Natureofpayment | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationonwrite-off:
Otherexplanations:
(2)Dividendsreceivable
1)Classificationofdividendsreceivable
Unit:RMB
| Project(orinvestees) | Endingbalance | Beginningbalance |
2)Significantdividendsreceivablewithagingover1year
Unit:RMB
| Project(orinvestees) | Endingbalance | Aging | Reasonfornotwithdrawing | Whetherimpairmentoccursandthebasisforjudgment |
3)Disclosurebyprovisionmethodforbaddebts
□Applicable?Notapplicable
4)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiod
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Resaleorwrite-off | Otherchanges | |||
Significantamountsofrecoveredorreversedprovisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
Otherexplanations:
5)Actualwrite-offofdividendsreceivableinthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Write-offofimportantdividendsreceivable
Unit:RMB
| Entityname | Natureofpayment | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationonwrite-off:
Otherexplanations:
(3)Otherreceivables
1)Classificationofotherreceivablesbynatureofpayment
Unit:RMB
| Natureofpayment | Endingbookbalance | Beginningbookbalance |
| Deposit | 16,570,122.08 | 15,529,043.09 |
| Guarantee | 33,556,554.25 | 33,305,992.74 |
| Pettycash | 65,000.00 | 107,431.74 |
| Withholdingpayments | 15,143,545.86 | 14,146,194.97 |
| Currentaccounts | 628,885,730.76 | 631,105,205.00 |
| Others | 28,482,247.50 | 27,382,989.67 |
| Total | 722,703,200.45 | 721,576,857.21 |
2)Disclosurebyaging
Unit:RMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(including1year) | 24,995,887.18 | 26,526,466.14 |
| 1-2years | 5,643,226.15 | 19,386,864.72 |
| 2to3years | 18,162,467.53 | 10,280,135.75 |
| Over3years | 673,901,619.59 | 665,383,390.60 |
| 3-4years | 10,104,444.70 | 569,228,726.25 |
| 4to5years | 568,915,240.94 | 31,121,307.77 |
| Over5years | 94,881,933.95 | 65,033,356.58 |
| Total | 722,703,200.45 | 721,576,857.21 |
3)Disclosurebyprovisionmethodforbaddebts??Applicable?Notapplicable
Unit:RMB
| Type | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
| Amount | Ratio | Amount | Provisionratio | Amount | Ratio | Amount | Provisionratio | |||
| Provisionforbaddebtsaccruedonanindividualbasis | 627,770,434.33 | 86.86% | 392,405,624.92 | 62.51% | 235,364,809.41 | 627,770,434.33 | 87.00% | 392,405,624.92 | 62.51% | 235,364,809.41 |
| Including: | ||||||||||
| Provisionforbaddebtsmadebyportfolio | 94,932,766.12 | 13.14% | 62,732,466.42 | 66.08% | 32,200,299.70 | 93,806,422.88 | 13.00% | 55,837,942.78 | 59.52% | 37,968,480.10 |
| Including: | ||||||||||
| Total | 722,703,200.45 | 100.00% | 455,138,091.34 | 62.98% | 267,565,109.11 | 721,576,857.21 | 100.00% | 448,243,567.70 | 62.12% | 273,333,289.51 |
Provisionforbaddebtsaccruedonanindividualbasis:RMB392,405,624.92
Unit:RMB
| Name | Beginningbalance | Endingbalance | ||||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | Provisionratio | Reasonsforprovision | |
| ShenzhenXinhaiHoldingsCo.,Ltd.anditsrelatedpartiesShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.,andShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | 587,289,550.00 | 362,846,450.00 | 587,289,550.00 | 362,846,450.00 | 61.78% | Prudentjudgmentonrecoveryrisk |
| ShenzhenTianjunIndustrialCo.,Ltd. | 10,000,000.00 | 10,000,000.00 | Nouncollectableriskisexpected | |||
| ShanghaiYutongRealEstateDevelopmentCo.,Ltd. | 5,676,000.00 | 5,676,000.00 | 5,676,000.00 | 5,676,000.00 | 100.00% | Failedtorecoverforalongtime |
| HongKongYuehengDevelopmentCo.,Ltd. | 3,271,837.78 | 3,271,837.78 | 3,271,837.78 | 3,271,837.78 | 100.00% | Failedtorecoverforalongtime |
| DameishaTourismCenter | 2,576,445.69 | 2,576,445.69 | 2,576,445.69 | 2,576,445.69 | 100.00% | Failedtorecoverforalongtime |
| ElevatedTrainProject | 2,542,332.43 | 2,542,332.43 | 2,542,332.43 | 2,542,332.43 | 100.00% | Failedtorecoverforalongtime |
| Accountsreceivablewithinsignificantsingleamountbutsubjecttoprovisionforbaddebtsonanindividualbasis | 16,414,268.43 | 15,492,559.02 | 16,414,268.43 | 15,492,559.02 | 94.38% | Failedtorecoverforalongtime |
| Total | 627,770,434.33 | 392,405,624.92 | 627,770,434.33 | 392,405,624.92 | ||
Provisionforbaddebtsaccruedoncombination:RMB62,732,466.42
Unit:RMB
| Name | Endingbalance | ||
| Bookbalance | Provisionforbaddebts | Provisionratio | |
| Within1year | 24,370,319.52 | 731,109.88 | 3.00% |
| 1-2years | 5,328,484.41 | 532,848.46 | 10.00% |
| 2to3years | 3,529,649.81 | 1,058,894.98 | 30.00% |
| 3-4years | 1,633,765.08 | 816,882.59 | 50.00% |
| 4to5years | 2,389,083.93 | 1,911,267.14 | 80.00% |
| Over5years | 57,681,463.37 | 57,681,463.37 | 100.00% |
| Total | 94,932,766.12 | 62,732,466.42 | |
Explanationonthebasisfordeterminingthecombination:
Theprovisionforbaddebtsmadeaccordingtothegeneralmodelofexpectedcreditlosses
Unit:RMB
| Provisionforbaddebts | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesoverthenext12months | Expectedcreditlossthroughouttheduration(withoutcreditimpairment) | Expectedcreditlossthroughouttheduration(withcreditimpairment) | ||
| BalanceasofJanuary1,2025 | 55,837,942.78 | 392,405,624.92 | 448,243,567.70 | |
| BalanceasofJanuary1,2025inthecurrentperiod | ||||
| Provisionforthecurrentperiod | 6,894,523.64 | 6,894,523.64 | ||
| BalanceasofDecember31,2025 | 62,732,466.42 | 455,138,091.34 |
BasisfordivisionofeachstageandratioofprovisionforbaddebtsChangesinthebookbalanceofprovisionforlosswithsignificantchangesinthecurrentperiod
□Applicable?Notapplicable
4)Provisionforbaddebtsaccrued,recoveredorreversedinthecurrentperiodProvisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Resaleorwrite-off | Others | |||
| Provisionforbaddebtsaccruedonan | 392,405,624.92 | 392,405,624.92 | ||||
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Resaleorwrite-off | Others | |||
| individualbasis | ||||||
| Provisionforbaddebtsmadebyportfolio | 55,837,942.78 | 6,896,032.05 | -1,508.41 | 62,732,466.42 | ||
| Total | 448,243,567.70 | 6,896,032.05 | -1,508.41 | 455,138,091.34 | ||
Reversalorrecoveryofsignificantamountofprovisionforbaddebtsinthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
5)Otherreceivablesactuallywrite-offinthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Importantotherreceivableswrite-off:
Unit:RMB
| Entityname | Natureofotherreceivables | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationsonwrite-offofotherreceivables:
6)Otherreceivablesofthetopfiveendingbalancescollectedbydebtor
Unit:RMB
| Entityname | Natureofamount | Endingbalance | Aging | Ratiotothetotalendingbalanceofotherreceivables | Balanceofprovisionforbaddebtsasattheendoftheperiod |
| ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | Currentaccounts | 375,068,984.55 | 4to5years,over5years | 51.90% | 231,729,731.18 |
| ShenzhenXinhaiHoldings | Guarantee | 201,499,990.18 | 4to5years,over5years | 27.88% | 124,493,201.20 |
| ShenzhenBenglingJointStockCooperativeCompany | Currentaccounts | 30,000,000.00 | Over5years | 4.15% | 30,000,000.00 |
| Entityname | Natureofamount | Endingbalance | Aging | Ratiotothetotalendingbalanceofotherreceivables | Balanceofprovisionforbaddebtsasattheendoftheperiod |
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | Guarantee | 10,720,575.27 | 4to5years | 1.48% | 6,623,517.62 |
| ShenzhenTianjunIndustrialCo.,Ltd. | Guarantee | 10,000,000.00 | 4to5years | 1.38% | |
| Total | 627,289,550.00 | 86.79% | 392,846,450.00 |
7)Reportedasotherreceivablesduetocentralizedfundmanagement
Unit:RMBOtherexplanations:
9.Advancestosuppliers
(1)Advancestosuppliersarelistedbyaging
Unit:RMB
| Aging | Endingbalance | Beginningbalance | ||
| Amount | Ratio | Amount | Ratio | |
| Within1year | 7,493,552.61 | 78.57% | 5,575,416.69 | 71.57% |
| 1-2years | 141,241.34 | 1.48% | 1,533,388.81 | 19.69% |
| 2to3years | 1,228,771.66 | 12.88% | 352,506.38 | 4.53% |
| Over3years | 674,666.28 | 7.07% | 327,861.81 | 4.21% |
| Total | 9,538,231.89 | 7,789,173.69 | ||
Explanationofthereasonsforthedelayedsettlementofadvancestosupplierswithanagingofover1yearandsignificantamounts:
(2)Prepaymentstatusofthetopfiveyear-endbalancescollectedbyprepaidobjects
| Entityname | AdvancestosuppliersEndingbalance | Proportioninthetotalendingbalanceofprepayment(%) |
| ChongqingYudiAssetsOperationManagementCo.,Ltd. | 1,955,031.66 | 20.50 |
| TheFifthConstructionEngineeringCo.,Ltd.ofChinaConstructionFourthEngineeringCo.,Ltd. | 568,181.04 | 5.96 |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 455,100.00 | 4.77 |
| ShenzhenYouxunLongtengTechnologyCo.,Ltd. | 390,396.22 | 4.09 |
| PetroChinaCompanyLimitedQinghaiGolmudSalesBranch | 382,750.94 | 4.01 |
| Total | 3,751,459.86 | 39.33 |
Otherexplanations:
10.InventoriesWhetherthecompanyneedstocomplywiththedisclosurerequirementsoftherealestateindustryYes
(1)InventoriesClassificationTheCompanyshallcomplywiththedisclosurerequirementsfortherealestateindustryassetoutintheGuidelinesforSelf-RegulationofListedCompaniesofShenzhenStockExchangeNo.3-IndustryInformationDisclosureClassificationbynature
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Provisionforinventorydepreciationorprovisionforimpairmentofcontractperformancecosts | Bookvalue | Bookbalance | Provisionforinventorydepreciationorprovisionforimpairmentofcontractperformancecosts | Bookvalue | |
| Developmentcosts | 11,182,897,066.48 | 1,159,179,944.88 | 10,023,717,121.60 | 10,400,305,603.19 | 1,159,179,944.88 | 9,241,125,658.31 |
| Developingproducts | 1,147,928,503.90 | 69,297,622.96 | 1,078,630,880.94 | 1,538,484,990.57 | 95,754,630.32 | 1,442,730,360.25 |
| Rawmaterials | 1,500,567.49 | 910,783.62 | 589,783.87 | 1,497,761.18 | 907,923.88 | 589,837.30 |
| Inventoriesofgoods | 2,487,223.05 | 2,094,300.39 | 392,922.66 | 2,407,119.31 | 2,094,300.39 | 312,818.92 |
| Low-valueconsumables | 578,760.98 | 578,760.98 | 286,478.63 | 286,478.63 | ||
| Total | 12,335,392,121.90 | 1,231,482,651.85 | 11,103,909,470.05 | 11,942,981,952.88 | 1,257,936,799.47 | 10,685,045,153.41 |
Disclosethemainitemsof"developmentcosts"andtheircapitalizationofinterestinthefollowingformat:
Unit:RMB
| Project | Commencementtime | Estimatedcompletiontime | Estimatedtotalinvestment | Beginningbalance | Transfertodevelopmentproductsinthecurrentperiod | Otherdecreasesinthecurrentperiod | Increaseinthecurrentperiod(developmentcosts) | Endingbalance | Accumulatedcapitalizationamountofinterest | Including:Capitalizedamountofinterestinthecurrentperiod | Sourceoffunds |
| LakeCityProject | October15,2020 | September10,2026 | 8,400,000,000.00 | 6,010,563,047.67 | 523,104,498.87 | 6,533,667,546.54 | 589,783,272.62 | 112,403,677.48 | Bankloans | ||
| HumenBinhaiHarborProject | March22,2022 | June30,2029 | 3,217,590,000.00 | 2,741,418,798.21 | 78,045,518.14 | 2,819,464,316.35 | 39,375,461.97 | 14,992,296.61 | Bankloans | ||
| LandinHongqiTown,Haikou | 6,648,404.13 | 6,648,404.13 | 0.00 | Others | |||||||
| ShenhuiGarden | 37,372,797.39 | 37,372,797.39 | 0.00 | Others | |||||||
| FuyuantaiProject | 19,968,532.62 | 5,900,148.08 | 25,868,680.70 | 0.00 | Others | ||||||
| ShenyangDigital | March6,2023 | May30,2026 | 3,774,790,000.00 | 1,534,418,436.51 | 172,533,685.21 | 1,706,952,121.72 | 22,281,017.20 | 13,459,124.59 | Bankloans |
| Project | Commencementtime | Estimatedcompletiontime | Estimatedtotalinvestment | Beginningbalance | Transfertodevelopmentproductsinthecurrentperiod | Otherdecreasesinthecurrentperiod | Increaseinthecurrentperiod(developmentcosts) | Endingbalance | Accumulatedcapitalizationamountofinterest | Including:Capitalizedamountofinterestinthecurrentperiod | Sourceoffunds |
| IntelligentCityProject | |||||||||||
| Others | 49,915,586.66 | 3,007,612.99 | 52,923,199.65 | 0.00 | Others | ||||||
| Total | -- | -- | 15,392,380,000.00 | 10,400,305,603.19 | 0.00 | 0.00 | 782,591,463.29 | 11,182,897,066.48 | 651,439,751.79 | 140,855,098.68 | -- |
Disclosethemainprojectinformationof"developedproducts"inthefollowingformat:
Unit:RMB
| Project | Timeofcompletion | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | Accumulatedcapitalizationamountofinterest | Including:Capitalizedamountofinterestinthecurrentperiod |
| SZPRD·CoveredBridgeInternational | December1,2012 | 3,447,316.75 | 3,447,316.75 | 83,077,702.96 | |||
| SZPRD·LakesideRoyalViewPhaseI | June1,2015 | 30,049,833.98 | 264,143.81 | 29,785,690.17 | 10,446,911.43 | ||
| SZPRD·BanshanYujingPhaseII | January12,2022 | 3,479,487.46 | 3,479,487.46 | 27,205,315.95 | |||
| SZPRD·SonghuLangyuan | July1,2017 | 22,232,784.19 | 848,079.00 | 21,384,705.19 | 30,539,392.65 | ||
| SZPRD·LakesideRoyalViewPhaseII | November1,2017 | 30,166,422.64 | 188,175.21 | 29,978,247.43 | |||
| SZPRD·GoldenLingHoliday | December1,2019 | 11,425,826.09 | 11,425,826.09 | ||||
| SZPRD·FuchangGardenPhaseII(FuhuiHuayuan) | January18,2023 | 4,951,526.83 | 600,686.71 | 5,552,213.54 | |||
| SZPRD·YutangShangfu | December3,2024 | 1,423,905,608.27 | 371,908,565.09 | 1,051,997,043.18 | 11,490,648.55 | ||
| GuomaoPlaza | December1,1995 | 4,839,083.10 | 4,839,083.10 | 26,385,636.29 | |||
| AreaA,Huangyuyuan | June1,2001 | 790,140.58 | 790,140.58 | ||||
| PodiumbuildingofFuchangBuilding | November1,1999 | 645,532.65 | 645,532.65 | ||||
| Otherprojects | 2,551,428.03 | 2,284,926.85 | 266,501.18 | ||||
| Total | -- | 1,538,484,990.57 | 600,686.71 | 391,157,173.38 | 1,147,928,503.90 | 189,145,607.83 |
Disclose"developmentproductswithinstallmentcollection","developmentproductsforlease"and"revolvinghouses"byiteminthefollowingformat:
Unit:RMB
| Project | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
(2)Dataresourcesrecognizedasinventories
Unit:RMB
| Item | Inventoriesofpurchaseddataresources | Inventoriesofdataresourceprocessedbyoneself | Inventoriesofdataresourceobtainedbyothermeans | Total |
(3)ProvisionforinventorydepreciationandprovisionforimpairmentofcontractperformancecostsTheprovisionforinventorydepreciationshallbedisclosedinthefollowingformat:
Classificationbynature
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | Remark | ||
| Provision | Others | Reversalorwrite-off | Others | ||||
| Developmentcosts | 1,159,179,944.88 | 1,159,179,944.88 | |||||
| Developingproducts | 95,754,630.32 | 26,457,007.36 | 69,297,622.96 | ||||
| Rawmaterials | 907,923.88 | 2,859.74 | 910,783.62 | ||||
| Inventoriesofgoods | 2,094,300.39 | 2,094,300.39 | |||||
| Total | 1,257,936,799.47 | 2,859.74 | 26,457,007.36 | 1,231,482,651.85 | |||
Classificationbymainitems:
Unit:RMB
| Project | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | Remark | ||
| Provision | Others | Reversalorwrite-off | Others | ||||
(4)Thecapitalizationrateofinterestintheendingbalanceofinventories
| Project | Capitalizationamountatthebeginningoftheperiod | Capitalizationamountofthecurrentperiod | Amountcarriedforwardofthecurrentperiod | Capitalizationamountattheendoftheperiod |
| SZPRD·GoldenLingHoliday | 68,298.63 | 68,298.63 | ||
| SZPRD·LanhuShidai | 477,379,595.14 | 112,403,677.48 | 589,783,272.62 | |
| SZPRD·CoveredBridgeInternational | 2,971,986.54 | 2,971,986.54 | ||
| SZPRD·LakesideRoyalViewPhaseI | 1,220,274.10 | 50,052.89 | 1,170,221.21 | |
| SZPRD·HarbourPalace | 24,383,165.36 | 14,992,296.61 | 39,375,461.97 | |
| SZPRD·YutangShangfu | 7,201,211.25 | 1,873,017.89 | 5,328,193.36 | |
| ShenzhenProperty·ShenyangDigitalIntelligentCity | 8,821,892.61 | 13,459,124.59 | 22,281,017.20 |
| Project | Capitalizationamountatthebeginningoftheperiod | Capitalizationamountofthecurrentperiod | Amountcarriedforwardofthecurrentperiod | Capitalizationamountattheendoftheperiod |
| Total | 522,046,423.63 | 140,855,098.68 | 4,963,355.95 | 657,938,166.36 |
(5)RestrictedinventoriessituationDisclosureofrestrictedinventoriesbyitem:
Unit:RMB
| Project | Beginningbalance | Endingbalance | Reasonforrestriction |
| LanduserightofLakeCityProjectplot | 401,867,324.00 | 424,356,240.00 | Loancollateral |
| LanduserightofPlotsBandDofShenyangDigitalIntelligentCityProjectandPlotDconstructioninprogress | 523,395,967.09 | 987,723,102.87 | Loancollateral |
| GuomaoPlaza | 0.00 | 4,839,083.09 | Loancollateral |
| Total | 925,263,291.09 | 1,416,918,425.96 |
11.Assetsheldforsale
Unit:RMB
| Item | Endingbookbalance | Provisionforimpairment | Closingbookvalue | Fairvalue | Estimateddisposalcost | Estimateddisposaltime |
Otherexplanations:
12.Non-currentassetsmaturingwithinoneyear
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(1)Debtinvestmentsduewithinoneyear
□Applicable?Notapplicable
(2)Otherdebtinvestmentsduewithinoneyear
□Applicable?Notapplicable
13.Othercurrentassets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Prepaidvalue-addedtax | 30,698,000.74 | 26,330,826.55 |
| Inputtaxtobededucted | 153,865,680.59 | 140,627,987.61 |
| Prepaidincometax | 1,598,767.57 | 2,883,055.01 |
| Prepaidlandvalueincrementtax | 17,903,342.72 | 8,078,866.26 |
| Item | Endingbalance | Beginningbalance |
| Prepaidurbanconstructiontax | 3,734,334.77 | 2,215,820.29 |
| Advancepaymentofeducationsurcharges | 2,697,914.61 | 1,582,870.76 |
| Instantcollectionandrefundofvalue-addedtaxonsoftwaresalesreceivable | 1,687.34 | |
| Total | 210,498,041.00 | 181,721,113.82 |
Otherexplanations:
14.Debtinvestments
(1)Detailsofdebtinvestments
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Changesinprovisionforimpairmentofdebtinvestmentsinthecurrentperiod
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
(2)Importantdebtinvestmentsattheendoftheperiod
Unit:RMB
| Debtitem | Endingbalance | Beginningbalance | ||||||||
| Bookvalue | Nominalinterestrate | Effectiveinterestrate | Maturitydate | Overdueprincipal | Bookvalue | Nominalinterestrate | Effectiveinterestrate | Maturitydate | Overdueprincipal | |
(3)Provisionforimpairment
Unit:RMB
| Provisionforbaddebts | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesoverthenext12months | Expectedcreditlossthroughouttheduration(withoutcreditimpairment) | Expectedcreditlossthroughouttheduration(withcreditimpairment) | ||
| BalanceasofJanuary1,2025inthecurrentperiod |
Basisfordivisionofeachstageandratioofprovisionforbaddebts
(4)Debtinvestmentsactuallywrite-offinthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Theimportantdebtinvestmentswrite-offsituationDebtinvestmentswrite-offdescription:
Changesinthebookbalanceofprovisionforlosswithsignificantchangesinthecurrentperiod
□Applicable?NotapplicableOtherexplanations:
15.Otherdebtinvestments
(1)Otherdebtinvestments
Unit:RMB
| Item | Beginningbalance | Accruedinterest | Interestadjustment | Fairvaluechangesofthecurrentperiod | Endingbalance | Cost | Cumulativefairvaluechanges | Accumulatedprovisionforimpairmentrecognizedinothercomprehensiveincome | Remark |
Changesinprovisionforimpairmentofotherdebtinvestmentsinthecurrentperiod
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
(2)OtherImportantdebtinvestmentsattheendoftheperiod
Unit:RMB
| Otherdebtitems | Endingbalance | Beginningbalance | ||||||||
| Bookvalue | Nominalinterestrate | Effectiveinterestrate | Maturitydate | Overdueprincipal | Bookvalue | Nominalinterestrate | Effectiveinterestrate | Maturitydate | Overdueprincipal | |
(3)Provisionforimpairment
Unit:RMB
| Provisionforbaddebts | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesoverthenext12months | Expectedcreditlossthroughouttheduration(withoutcreditimpairment) | Expectedcreditlossthroughouttheduration(withcreditimpairment) | ||
| BalanceasofJanuary1,2025inthecurrentperiod |
Basisfordivisionofeachstageandratioofprovisionforbaddebts
(4)Otherdebtinvestmentsactuallywrite-offinthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Write-offofimportantotherdebtinvestmentsOtherdebtinvestmentswrite-offdescription:
Changesinthebookbalanceofprovisionforlosswithsignificantchangesinthecurrentperiod
□Applicable?NotapplicableOtherexplanations:
16.Otherequityinstrumentinvestments
Unit:RMB
| Project | Endingbalance | Beginningbalance | Gainsaccruedtoothercomprehensiveincomeinthecurrentperiod | Lossaccruedtoothercomprehensiveincomeinthecurrentperiod | Gainsaccumulatedintoothercomprehensiveincomeattheendofthecurrentperiod | Lossesaccumulatedintoothercomprehensiveincomeattheendofthecurrentperiod | Dividendincomerecognizedduringthecurrentperiod | Reasonsdesignatedasbeingmeasuredatfairvaluethroughothercomprehensiveincome |
| JintianIndustrial(Group)Co.,Ltd.TheCompany | 567,317.70 | 586,231.82 | 4,277.54 | 2,900,533.92 | Notfortradingpurpose | |||
| Total | 567,317.70 | 586,231.82 | 4,277.54 | 2,900,533.92 |
Derecognitionexistsinthecurrentperiod
Unit:RMB
| Project | Cumulativegainstransferredtoretainedearnings | Cumulativelossestransferredtoretainedearnings | Reasonsforderecognition |
Disclosureofthecurrentperiodnon-tradingequityinstrumentinvestmentsbyitem
Unit:RMB
| Project | Recognizeddividendincome | Cumulativegains | Cumulativeloss | Amounttransferredfromtheothercomprehensiveincometoretainedearnings | Reasonsdesignatedasbeingmeasuredatfairvaluethroughothercomprehensiveincome | Reasonsforthetransferofothercomprehensiveincomeintoretainedearnings |
| JintianIndustrial(Group)Co.,Ltd.TheCompany | 3,023,038.61 | Notfortradingpurpose |
Otherexplanations:
17.Long-termreceivables
(1)Long-termreceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance | Intervalofdiscountrate | ||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | ||
(2)Disclosurebyprovisionmethodforbaddebts
Unit:RMB
| Type | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
| Amount | Ratio | Amount | Provisionratio | Amount | Ratio | Amount | Provisionratio | |||
| Including: | ||||||||||
| Including: | ||||||||||
Theprovisionforbaddebtsmadeaccordingtothegeneralmodelofexpectedcreditlosses
Unit:RMB
| Provisionforbaddebts | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesoverthenext12months | Expectedcreditlossthroughouttheduration(withoutcreditimpairment) | Expectedcreditlossthroughouttheduration(withcreditimpairment) | ||
| BalanceasofJanuary1,2025inthecurrentperiod |
Basisfordivisionofeachstageandratioofprovisionforbaddebts
(3)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiod
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Resaleorwrite-off | Others | |||
Reversalorrecoveryofsignificantamountofprovisionforbaddebtsinthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
Otherexplanations:
(4)Actualwrite-offoflong-termreceivablesinthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Write-offofimportantlong-termreceivables:
Unit:RMB
| Entityname | Natureofpayment | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationsonwrite-offoflong-termreceivables:
18.Long-termequityinvestments
Unit:RMB
| Investees | Beginningbalance(bookvalue) | Beginningbalanceofprovisionforimpairment | Increase/decreaseinthisperiod | Endingbalance(bookvalue) | Balanceofprovisionforimpairmentasattheendoftheperiod | |||||||
| Additionalinvestment | Reducedinvestment | Investmentprofitorlossrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesinotherequity | Cashdividendsorprofitsdeclaredtobepaid | Provisionforimpairment | Others | |||||
| I.Jointventures | ||||||||||||
| ShenzhenPropertyJifaWarehousingCo.,Ltd. | 232,356,600.97 | 90,014.66 | 232,446,615.63 | |||||||||
| ShenzhenTian'anInternationalBuildingPropertyManagementCo.,Ltd. | 5,739,071.23 | -1,049,490.78 | 4,689,580.45 | |||||||||
| Sub-total | 238,095,672.20 | -959,476.12 | 237,136,196.08 | |||||||||
| II.Associates | ||||||||||||
| ShenzhenWufangCeramicIndustryCo.,Ltd. | 18,983,614.14 | 18,983,614.14 | ||||||||||
| ShenzhenComfortHealthProductsCo.,Ltd. | 165,000.00 | 165,000.00 | ||||||||||
| ShenzhenXinghaoImitationPorcelainProductsCo.,Ltd. | 756,670.68 | 756,670.68 | ||||||||||
| ShenzhenSocialWelfareCompanyFudaElectronicsFactory | 326,693.24 | 326,693.24 | ||||||||||
| ShenzhenFulongIndustrialDevelopmentCo.,Ltd. | 1,684,350.00 | 1,684,350.00 | ||||||||||
| Haonianhua | 2,733,570.05 | 2,733,570.05 | ||||||||||
| Investees | Beginningbalance(bookvalue) | Beginningbalanceofprovisionforimpairment | Increase/decreaseinthisperiod | Endingbalance(bookvalue) | Balanceofprovisionforimpairmentasattheendoftheperiod | |||||||
| Additionalinvestment | Reducedinvestment | Investmentprofitorlossrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesinotherequity | Cashdividendsorprofitsdeclaredtobepaid | Provisionforimpairment | Others | |||||
| Hotel | ||||||||||||
| ShenzhenEducationFundLonghuaInvestment | 500,000.00 | 500,000.00 | ||||||||||
| ShenzhenKangleSportsClubHuangfaBranch | 540,060.00 | 540,060.00 | ||||||||||
| FactorybuildinginDankengVillage,Fumin,GuanlanTown,Shenzhen | 1,168,973.20 | 1,168,973.20 | ||||||||||
| ShenzhenXiongniuBowlingEntertainmentCo.,Ltd. | 500,000.00 | 500,000.00 | ||||||||||
| ShenzhenYangyuanIndustrialCo.,Ltd. | 1,030,000.00 | 1,030,000.00 | ||||||||||
| JiaKaifengCompanyBao'anCompany | 600,000.00 | 600,000.00 | ||||||||||
| GuiyuanAutoRepairPlant | 350,000.00 | 350,000.00 | ||||||||||
| ShenzhenWuweiRoofLandscapingCo.,Ltd. | 500,000.00 | 500,000.00 | ||||||||||
| ShenzhenYuanpingPlasticSteelDoorsandWindowsCo.,Ltd. | 240,000.00 | 240,000.00 | ||||||||||
| ShenzhenYoufangPrintingandDistributionCo.,Ltd. | 100,000.00 | 100,000.00 | ||||||||||
| ShenzhenLushengIndustrialDevelopment | 100,000.00 | 100,000.00 | ||||||||||
| Investees | Beginningbalance(bookvalue) | Beginningbalanceofprovisionforimpairment | Increase/decreaseinthisperiod | Endingbalance(bookvalue) | Balanceofprovisionforimpairmentasattheendoftheperiod | |||||||
| Additionalinvestment | Reducedinvestment | Investmentprofitorlossrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesinotherequity | Cashdividendsorprofitsdeclaredtobepaid | Provisionforimpairment | Others | |||||
| Co.,Ltd. | ||||||||||||
| ChinaConstructionEngineeringCorporationGroupSmartParkingTechnologyCo.,Ltd. | 30,092,133.32 | 1,890,181.89 | 115,933.90 | 31,866,381.31 | ||||||||
| Sub-total | 30,092,133.32 | 30,278,931.31 | 1,890,181.89 | 115,933.90 | 31,866,381.31 | 30,278,931.31 | ||||||
| Total | 268,187,805.52 | 30,278,931.31 | 930,705.77 | 115,933.90 | 269,002,577.39 | 30,278,931.31 | ||||||
Therecoverableamountisdeterminedatthenetamountofthefairvalueminusthedisposalexpenses
□Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueoftheestimatedfuturecashflows
□Applicable?NotapplicableReasonsfortheobviousinconsistencybetweentheaboveinformationandtheinformationusedinpreviousimpairmenttestorexternalinformationReasonsforthedifferencebetweentheinformationusedintheimpairmenttestoftheCompanyinpreviousyearsandtheactualsituationofthecurrentyearOtherexplanations:
19.Othernon-currentfinancialassets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Otherexplanations:
20.Investmentproperties
(1)Investmentpropertiesmeasuredatthecostmode??Applicable?Notapplicable
Unit:RMB
| Item | Housesandbuildings | Landuserights | Constructioninprogress | Total |
| I.Totaloriginalbookvalue | ||||
| 1.Beginningbalance | 900,141,059.90 | 14,495,902.20 | 39,665,598.78 | 954,302,560.88 |
| 2.Increaseinthecurrentperiod | 346,296.42 | 146,768,796.02 | 147,115,092.44 | |
| (1)Outsourcing | 346,296.42 | 57,953,240.33 | 58,299,536.75 | |
| (2)Transferfrominventories,fixedassetsandconstructioninprogress | ||||
| (3)Increaseinbusinesscombination | ||||
| (4)Transfer-inofhousesandbuildings | 88,815,555.69 | 88,815,555.69 | ||
| 3.Decreaseinthecurrentperiod | 101,073,498.97 | 101,073,498.97 | ||
| (1)Disposal | 11,053,177.03 | 11,053,177.03 | ||
| (2)Othertransfersout | 758,401.73 | 758,401.73 | ||
| (3)Transfertoconstructionin | 88,815,555.69 | 88,815,555.69 |
| Item | Housesandbuildings | Landuserights | Constructioninprogress | Total |
| progress | ||||
| (4)Exchangeadjustment | 446,364.52 | 446,364.52 | ||
| 4.Endingbalance | 799,413,857.35 | 14,495,902.20 | 186,434,394.80 | 1,000,344,154.35 |
| II.Accumulateddepreciationandaccumulatedamortization | ||||
| 1.Beginningbalance | 532,709,426.45 | 13,360,585.89 | 34,196,655.47 | 580,266,667.81 |
| 2.Increaseinthecurrentperiod | 25,995,471.48 | 72,630,612.84 | 98,626,084.32 | |
| (1)Provisionoramortization | 25,995,471.48 | 2,996,061.36 | 28,991,532.84 | |
| (2)Transfer-inofhousesandbuildings | 69,634,551.48 | 69,634,551.48 | ||
| 3.Decreaseinthecurrentperiod | 76,949,140.84 | 76,949,140.84 | ||
| (1)Disposal | 6,890,543.06 | 6,890,543.06 | ||
| (2)Othertransfersout | ||||
| (3)Transfertoconstructioninprogress | 69,634,551.48 | 69,634,551.48 | ||
| (4)Exchangeadjustment | 424,046.30 | 424,046.30 | ||
| 4.Endingbalance | 481,755,757.09 | 13,360,585.89 | 106,827,268.31 | 601,943,611.29 |
| III.Provisionforimpairment | ||||
| 1.Beginningbalance | ||||
| 2.Increaseinthecurrentperiod | ||||
| (1)Provision |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod |
| (1)Disposal |
| (2)Othertransfersout |
4.Endingbalance
| 4.Endingbalance | ||||
| IV.Bookvalue | ||||
| 1.Bookvalueasattheendoftheperiod | 317,658,100.26 | 1,135,316.31 | 79,607,126.49 | 398,400,543.06 |
| 2.Bookvalueasatthebeginningoftheperiod | 367,431,633.45 | 1,135,316.31 | 5,468,943.31 | 374,035,893.07 |
Therecoverableamountisdeterminedatthenetamountofthefairvalueminusthedisposalexpenses
□Applicable?Notapplicable
Therecoverableamountisdeterminedbasedonthepresentvalueoftheestimatedfuturecashflows
□Applicable?NotapplicableReasonsfortheobviousinconsistencybetweentheaboveinformationandtheinformationusedinpreviousimpairmenttestorexternalinformationReasonsforthedifferencebetweentheinformationusedintheimpairmenttestoftheCompanyinpreviousyearsandtheactualsituationofthecurrentyearOtherexplanations:
(2)Investmentpropertiesmeasuredbyfairvalue
□Applicable?NotapplicableTheCompanyshallcomplywiththedisclosurerequirementsfortherealestateindustryassetoutintheGuidelinesforSelf-RegulationofListedCompaniesofShenzhenStockExchangeNo.3-IndustryInformationDisclosureTheinvestmentpropertiesmeasuredatfairvaluearedisclosedbyitem:
Unit:RMB
| Project | Geographicallocation | Timeofcompletion | Grossfloorarea | Rentalincomeduringthereportingperiod | Openingfairvalue | Fairvalueasattheendoftheperiod | Themagnitudeoffairvaluechanges | Reasonsforfairvaluechangesandreportindex |
WhethertheCompanyhasinvestmentpropertiesintheconstructionperiodinthecurrentperiod??Yes?NoInvestmentpropertiesintheconstructionperiodinthecurrentperiod:
Unit:RMB
| Project | Location | Commencementdate | Estimatedtotalinvestment | Beginningamount | Endingamount | Estimatedcompletiontime |
| GuomaoShoppingMallrenovationandupgradingproject | IntersectionofRenminSouthRoadandJiabinRoad,LuohuDistrict | February25,2025 | 178,800,000.00 | 2,472,881.95 | 79,607,126.49 | April30,2026 |
| Total | 178,800,000.00 | 2,472,881.95 | 79,607,126.49 |
WhethertheCompanyhasanynewinvestmentpropertiesmeasuredatfairvalueinthecurrentperiod?Yes?No
(3)Conversiontoinvestmentpropertiesandmeasurementatfairvalue
Unit:RMB
| Item | Accountingitemsbeforeconversion | Amount | Reasonforconversion | Approvalprocedure | Impactonprofitorloss | Impactonothercomprehensiveincome |
(4)Investmentpropertieswithoutcertificateoftitle
Unit:RMB
| Item | Bookvalue | Reasonsforfailuretoobtainthecertificateoftitle |
| Unit507,Building6,Maguling | 20,059.61 | Thepropertyisapropertymanagementhouse,whichwasoccupiedbyathird-partypropertymanagementcompanyandhasnowbeenrecovered,butthecertificateoftitlehasnotbeenhandled |
Otherexplanations:
21.Fixedassets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Fixedassets | 41,751,582.46 | 52,712,396.64 |
| Disposaloffixedassets | ||
| Total | 41,751,582.46 | 52,712,396.64 |
(1)Fixedassets
Unit:RMB
| Item | Buildingsandconstructions | Itsequipment | Meansoftransportation | Renovationoffixedassets | Otherequipment | Total |
| I.Totaloriginalbookvalue: | ||||||
| 1.Beginningbalance | 119,193,126.30 | 6,694,535.25 | 18,941,387.55 | 37,747,260.30 | 60,072,081.23 | 242,648,390.63 |
| 2.Increaseinthecurrentperiod | 58,375.55 | 136,505.02 | 3,336,603.37 | 3,531,483.94 | ||
| (1)Purchase | 58,375.55 | 136,505.02 | 3,336,603.37 | 3,531,483.94 | ||
| (2)Transferfromconstructioninprogress | ||||||
| (3)Increaseinbusinesscombination |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 14,926,812.72 | 361,818.43 | 38,778.36 | 2,520,958.88 | 17,848,368.39 | |
| (1)Disposalorscrapping | 14,913,144.72 | 361,070.43 | 7,198.06 | 2,516,626.09 | 17,798,039.30 | |
| (2)Exchangeadjustment | 13,668.00 | 748.00 | 31,580.30 | 4,332.79 | 50,329.09 | |
| 4.Endingbalance | 104,266,313.58 | 6,391,092.37 | 19,039,114.21 | 37,747,260.30 | 60,887,725.72 | 228,331,506.18 |
| Item | Buildingsandconstructions | Itsequipment | Meansoftransportation | Renovationoffixedassets | Otherequipment | Total |
| II.Accumulateddepreciation | ||||||
| 1.Beginningbalance | 92,055,288.42 | 5,227,437.80 | 15,153,012.44 | 32,868,618.27 | 44,555,919.90 | 189,860,276.83 |
| 2.Increaseinthecurrentperiod | 2,043,696.57 | 646,481.31 | 1,336,137.78 | 3,675,313.72 | 5,628,735.19 | 13,330,364.57 |
| (1)Provision | 2,043,696.57 | 646,481.31 | 1,336,137.78 | 3,675,313.72 | 5,628,735.19 | 13,330,364.57 |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 13,990,433.66 | 359,560.34 | 12,453.10 | 2,323,987.74 | 16,686,434.84 | |
| (1)Disposalorscrapping | 13,981,084.75 | 359,520.43 | 7,770.68 | 2,323,243.15 | 16,671,619.01 | |
| (2)Exchangeadjustment | 9,348.91 | 39.91 | 4,682.42 | 744.59 | 14,815.83 | |
| 4.Endingbalance | 80,108,551.33 | 5,514,358.77 | 16,476,697.12 | 36,543,931.99 | 47,860,667.35 | 186,504,206.56 |
| III.Provisionforimpairment | ||||||
| 1.Beginningbalance | 75,717.16 | 75,717.16 | ||||
| 2.Increaseinthecurrentperiod | ||||||
| (1)Provision |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod |
| (1)Disposalorscrapping |
4.Endingbalance
| 4.Endingbalance | 75,717.16 | 75,717.16 | ||||
| IV.Bookvalue | ||||||
| 1.Bookvalueasattheendoftheperiod | 24,157,762.25 | 876,733.60 | 2,562,417.09 | 1,203,328.31 | 12,951,341.21 | 41,751,582.46 |
| 2.Bookvalueasatthebeginningoftheperiod | 27,137,837.88 | 1,467,097.45 | 3,788,375.11 | 4,878,642.03 | 15,440,444.17 | 52,712,396.64 |
(2)Temporarilyidlefixedassets
Unit:RMB
| Item | Originalbookvalue | Accumulateddepreciation | Provisionforimpairment | Bookvalue | Remark |
(3)Fixedassetsleasedoutthroughoperatingleases
Unit:RMB
| Item | Closingbookvalue |
(4)Fixedassetswithoutcertificateoftitle
Unit:RMB
| Item | Bookvalue | Reasonforfailuretoproperlyhandlethecertificateoftitle |
| Room401and402,OfficeBuilding,SanxiangBusinessBuilding | 421,514.90 | Duetotheplanningadjustment,theofficebuildingsofthepropertywillbedemolished,andanewhigh-riseofficebuildingswillbebuiltneartheexistingsite.Thecompanywillreplacetheexistingpropertywiththenewofficebuildingsafteritscompletion,sothepropertycertificateofthepropertyhasnotbeenabletobehandled. |
Otherexplanations:
(5)Impairmenttestoffixedassets
□Applicable?Notapplicable
(6)Disposaloffixedassets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Otherexplanations:
22.Constructioninprogress
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(1)Constructioninprogresssituation
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
(2)Changesofsignificantconstructioninprogressinthecurrentperiod
Unit:RMB
| Project | Budget | Beginningbalance | Increaseinthecurrentperiod | Transferintofixedassetsinthecurrentperiod | Otherdecreasesinthecurrentperiod | Endingbalance | Ratioofaccumulatedprojectinvestmentinbudget(%) | Progressofconstruction | Accumulatedcapitalizationamountofinterest | Including:Capitalizedamountofinterestinthecurrentperiod | Interestcapitalizationrateforthecurrentperiod | Sourceoffunds |
(3)Provisionforimpairmentofconstructioninprogressinthecurrentperiod
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | Reasonforprovision |
Otherexplanations:
(4)Impairmenttestofconstructioninprogress
□Applicable?Notapplicable
(5)Projectmaterials
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Otherexplanations:
23.Right-of-useassets
(1)Right-of-useassetsstatus
Unit:RMB
| Item | Buildingsandconstructions | Total |
| I.Totaloriginalbookvalue | ||
| 1.Beginningbalance | 42,653,991.93 | 42,653,991.93 |
| 2.Increaseinthecurrentperiod | 23,990,593.53 | 23,990,593.53 |
| (1)Newlease | 23,990,593.53 | 23,990,593.53 |
| 3.Decreaseinthecurrentperiod | 31,641,873.91 | 31,641,873.91 |
| (1)Terminationofleases | 31,641,873.91 | 31,641,873.91 |
| 4.Endingbalance | 35,002,711.55 | 35,002,711.55 |
| II.Accumulateddepreciation | ||
| 1.Beginningbalance | 25,686,371.90 | 25,686,371.90 |
| 2.Increaseinthecurrentperiod | 12,985,495.03 | 12,985,495.03 |
| (1)Provision | 12,985,495.03 | 12,985,495.03 |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 26,119,223.19 | 26,119,223.19 |
| (1)Disposal | ||
| (2)Terminationofleases | 26,119,223.19 | 26,119,223.19 |
| Item | Buildingsandconstructions | Total |
| 4.Endingbalance | 12,552,643.74 | 12,552,643.74 |
| III.Provisionforimpairment | ||
| 1.Beginningbalance | ||
| 2.Increaseinthecurrentperiod | ||
| (1)Provision |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | ||
| IV.Bookvalue | ||
| 1.Bookvalueasattheendoftheperiod | 22,450,067.81 | 22,450,067.81 |
| 2.Bookvalueasatthebeginningoftheperiod | 16,967,620.03 | 16,967,620.03 |
(2)Impairmenttestofright-of-useassets
□Applicable?NotapplicableOtherexplanations:
24.Intangibleassets
(1)Intangibleassetssituation
Unit:RMB
| Item | Landuserights | Patentright | Non-patentedtechnology | Rightofuseofsoftware | Total |
| I.Totaloriginalbookvalue | |||||
| 1.Beginningbalance | 3,060,312.13 | 3,060,312.13 | |||
| 2.Increaseinthecurrentperiod | 2,079,646.01 | 2,079,646.01 | |||
| (1)Purchase | 2,079,646.01 | 2,079,646.01 | |||
| (2)InternalR&D | |||||
| (3)Increaseinbusinesscombination |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | 5,139,958.14 | 5,139,958.14 | |
| II.Accumulatedaccumulation |
| Item | Landuserights | Patentright | Non-patentedtechnology | Rightofuseofsoftware | Total |
| 1.Beginningbalance | 2,588,746.74 | 2,588,746.74 | |||
| 2.Increaseinthecurrentperiod | 396,004.78 | 396,004.78 | |||
| (1)Provision | 396,004.78 | 396,004.78 |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | 2,984,751.52 | 2,984,751.52 | |
| III.Provisionforimpairment | |||
| 1.Beginningbalance | |||
| 2.Increaseinthecurrentperiod | |||
| (1)Provision |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod |
| (1)Disposal |
4.Endingbalance
| 4.Endingbalance | |||
| IV.Bookvalue | |||
| 1.Bookvalueasattheendoftheperiod | 2,155,206.62 | 2,155,206.62 | |
| 2.Bookvalueasatthebeginningoftheperiod | 471,565.39 | 471,565.39 |
TheratioofintangibleassetsformedthroughtheCompany'sinternalresearchanddevelopmenttothebalanceofintangibleassetsattheendofthecurrentperiodis0%.
(2)Dataresourcesrecognizedasintangibleassets
□Applicable?Notapplicable
(3)Detailsoflanduserightwithoutcertificateoftitle
Unit:RMB
| Item | Bookvalue | Reasonforfailuretoproperlyhandlethecertificateoftitle |
Otherexplanations:
(4)Impairmenttestofintangibleassets
□Applicable?Notapplicable
25.Goodwill
(1)Originalbookvalueofgoodwill
Unit:RMB
| Nameoftheinvesteesormattersforminggoodwill | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | ||
| Amountformedthroughbusinesscombination | Disposal | |||||
| ShenzhenFacilityManagementCommunityCo.,Ltd. | 9,446,847.38 | 9,446,847.38 | ||||
| Total | 9,446,847.38 | 9,446,847.38 | ||||
(2)Provisionforimpairmentofgoodwill
Unit:RMB
| Nameoftheinvesteesormattersforminggoodwill | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | ||
| Provision | Disposal | |||||
| ShenzhenFacilityManagementCommunityCo.,Ltd. | 0.00 | 5,004,983.08 | 5,004,983.08 | |||
| Total | 0.00 | 5,004,983.08 | 5,004,983.08 | |||
(3)Relevantinformationontheassetgrouporportfolioofassetgroupsofthegoodwillbelongsto
| Name | Compositionandbasisoftheassetgrouporcombinationtowhichitbelongs | Operatingsegmentsandbasis | Whetheritisconsistentwithpreviousyears |
| ShenzhenFacilityManagementCommunityCo.,Ltd. | Assetgrouporportfolioofassetgroupsthatcanindependentlygeneratecashflowsdeterminedinconsiderationofthesynergisticeffectthatcanbenefitfromthebusinesscombinationandthemanagementormonitoringmethodofthemanagementontheproductionoperatingactivities | Propertymanagement,supportingservices | Yes |
Changesinassetgrouporportfolioofassetgroups
| Name | Compositionbeforechange | Compositionafterchange | Objectivefactsandbasisleadingtochanges |
Otherexplanations
(4)SpecificdeterminationmethodofrecoverableamountTherecoverableamountisdeterminedatthenetamountofthefairvalueminusthedisposalexpenses
□Applicable?NotapplicableTherecoverableamountisdeterminedbasedonthepresentvalueoftheestimatedfuturecashflows??Applicable?Notapplicable
Unit:RMB
| Item | Bookvalue | Recoverableamount | Impairmentamount | Yearsofforecastperiod | KeyParametersfortheForecastPeriod | KeyParametersinStabilizationPhase | Basisfordeterminationofkeyparametersinthestabilizationperiod |
| ShenzhenFacilityManagementCommunityCo.,Ltd. | 27,328,251.66 | 13,028,300.00 | 14,299,951.66 | 6 | Revenuegrowthrate,discountrate | Nogrowth | Confirmationbasedoncaution |
| Total | 27,328,251.66 | 13,028,300.00 | 14,299,951.66 |
ReasonsfortheobviousinconsistencybetweentheaboveinformationandtheinformationusedinpreviousimpairmenttestorexternalinformationReasonsforthedifferencebetweentheinformationusedintheimpairmenttestoftheCompanyinpreviousyearsandtheactualsituationofthecurrentyear
(5)CompletionofperformancecommitmentandcorrespondinggoodwillimpairmentThereisaperformancecommitmentwhenthegoodwillisformedandthereportingperiodorthepreviousperiodofthereportingperiodiswithintheperformancecommitmentperiod
□Applicable□NotapplicableOtherexplanations:
InMay2021,theCompany'ssubsidiary,ShenzhenWuhuIndustryInvestmentandDevelopmentCo.,Ltd.(WuheIndustryInvestmentandDevelopmentforshort),acquired35%oftheequityofShenzhenFacilityManagementCommunityCo.,Ltd.(FacilityManagementCommunityforshortortheTargetCompany)throughequityacquisitionandtargetedcapitalincrease.AccordingtotheequityacquisitioncooperationframeworkagreementsignedbytheWuheIndustryInvestmentandDevelopmentandtheoriginalshareholders,theFacilityHomeanditsoriginalshareholderspromisedthattheoperatingrevenuegrowthratioornetprofitofthetargetcompanyfrom2021to2023wouldreachthetargetvalueagreedintheagreement,andtheWuheIndustryInvestmentandDevelopmentwouldassessitsoperatingperformancewithinthreeyears.Asofthereportingdate,theperformanceassessmenthasnotbeencompleted,soitscompletioncannotbeevaluatedtemporarily.
Accordingtothegoodwillimpairmenttestresults,therecoverableamountwasRMB14,299,951.66lowerthanitscarryingamount,andtheCompanymadeaprovisionforgoodwillimpairmentofRMB
5,004,983.08basedonitsshareholdingratio.
26.Long-termdeferredexpenses
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Amountamortizedinthecurrentperiod | Otherdecreases | Endingbalance |
| Renovationcosts | 22,110,090.13 | 1,557,894.09 | 8,616,446.00 | 4,755.15 | 15,046,783.07 |
| Total | 22,110,090.13 | 1,557,894.09 | 8,616,446.00 | 4,755.15 | 15,046,783.07 |
Otherexplanations:
27.Deferredtaxassets/deferredtaxliabilities
(1)Deferredtaxassetswithoutoffset
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||
| Deductibletemporarydifferences | Deferredtaxassets | Deductibletemporarydifferences | Deferredtaxassets | |
| Provisionforassetimpairment | 97,665,969.81 | 21,854,744.31 | 88,995,990.92 | 21,643,089.04 |
| Unrealizedprofitsofinternaltransactions | 436,277,776.28 | 109,069,444.07 | 436,511,360.97 | 109,127,840.24 |
| Deductiblelosses | 219,911,499.79 | 54,427,860.61 | 1,152,203,588.06 | 287,259,758.96 |
| Landvalueincrementtaxwithdrawnfordeduction | 9,308,029.13 | 2,327,007.28 | 3,171,733,686.94 | 792,933,421.74 |
| Estimatedprofitcalculatedfrompre-salerevenueofrealestateenterprises | 62,921,006.15 | 15,730,251.54 | 44,109,428.40 | 11,027,357.10 |
| Otheraccruedexpenses | 14,043,969.23 | 3,510,992.30 | 22,746,958.59 | 5,629,898.56 |
| Leaseliabilities | 23,500,918.43 | 5,749,024.66 | 19,127,482.59 | 4,531,157.25 |
| Total | 863,629,168.82 | 212,669,324.77 | 4,935,428,496.47 | 1,232,152,522.89 |
(2)Deferredtaxliabilitieswithoutoffset
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||
| Taxabletemporarydifferences | Deferredtaxliabilities | Taxabletemporarydifferences | Deferredtaxliabilities | |
| Bookvalueoffixedassetsisgreaterthantaxbasis | 177,411.22 | 44,352.79 | 440,912.20 | 110,228.04 |
| Right-of-useassets | 22,450,067.85 | 5,486,520.49 | 16,972,012.51 | 3,989,936.31 |
| Changesinfairvalueoffinancialassetsheldfortrading | 1,765,714.20 | 441,428.55 | ||
| Total | 24,393,193.27 | 5,972,301.83 | 17,412,924.71 | 4,100,164.35 |
(3)Deferredtaxassetsorliabilitieslistednetamountafterwrite-offs
Unit:RMB
| Item | Deductionamountofdeferredtaxassetsandliabilitiesattheendoftheperiod | Endingbalanceofdeferredtaxassetsorliabilitiesafterwrite-off | Deductionamountofdeferredtaxassetsandliabilitiesfromthebeginningoftheperiod | Beginningbalanceofdeferredtaxassetsorliabilitiesafterwrite-off |
| Deferredtaxassets | 212,669,324.77 | 1,232,152,522.89 | ||
| Deferredtaxliabilities | 5,972,301.83 | 4,100,164.35 |
(4)Detailsofunconfirmeddeferredtaxassets
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Deductibletemporarydifferences | 1,751,240,859.68 | 1,666,771,094.64 |
| Deductiblelosses | 366,903,018.00 | 321,157,984.91 |
| Total | 2,118,143,877.68 | 1,987,929,079.55 |
(5)Deductiblelossesfromunrecognizeddeferredtaxassetswillbeexpiredinthefollowingyears
Unit:RMB
| Year | Endingamount | Beginningamount | Remark |
| 2025 | 22,711,013.85 | ||
| 2026 | 14,238,807.00 | 14,238,807.00 | |
| 2027 | 81,285,680.12 | 81,285,680.12 | |
| 2028 | 11,248,208.22 | 11,248,208.22 | |
| 2029 | 191,674,275.72 | 191,674,275.72 | |
| 2030 | 68,456,046.94 | ||
| Total | 366,903,018.00 | 321,157,984.91 |
Otherexplanations:
28.Othernon-currentassets
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| Costofcontractacquisition | 22,101,296.87 | 22,101,296.87 | 9,590,978.85 | 9,590,978.85 | ||
| Prepaymentsforthepurchaseoffixedassets,investmentproperties,intangibleassets,etc. | 921,552.89 | 921,552.89 | 1,649,428.99 | 1,649,428.99 | ||
| Others | 2,635,093.77 | 2,635,093.77 | 2,635,093.77 | 2,635,093.77 | ||
| Total | 25,657,943.53 | 25,657,943.53 | 13,875,501.61 | 13,875,501.61 | ||
Otherexplanations:
Others,mainlythewritten-downassetsofinvestmentproperties,becausetheassetinvolvestherelocationbusinessoftheshantytownredevelopmentinChuanbuStreet,whichwillbehandedoverlater,withatermofmorethanoneyear.
29.Assetswithrestrictionsontheownershiporrightofuse
Unit:RMB
| Item | Ending | Beginning | ||||||
| Bookbalance | Bookvalue | Restrictedtype | Restrictedcondition | Bookbalance | Bookvalue | Restrictedtype | Restrictedcondition | |
| Monetaryfunds | 82,297,671.21 | 82,297,671.21 | Frozen | Guarantee,deposit,timedepositinterest,judiciallyfrozenfunds,etc. | 67,316,759.82 | 67,316,759.82 | Frozen | Guarantee,deposit,timedepositinterest,judiciallyfrozenfunds,etc. |
| Inventories | 4,839,083.09 | 4,839,083.09 | Mortgage | Duetotheneedsofdailyoperatingactivities,theCompanyappliedforaloanfrombank,andmortgagedtheself-ownedcommercialpropertiesitheld. | ||||
| Fixedassets | 3,483,700.15 | 3,483,700.15 | Mortgage | Duetotheneedsofdailyoperatingactivities,theCompanyappliedforaloanfrombank,andmortgagedtheself-ownedcommercialpropertiesitheld. | ||||
| Inventories-LanduserightofLakeCityProjectplot | 424,356,240.00 | 424,356,240.00 | Mortgage | Duetotheneedsofdailyoperatingactivities,theCompanyappliedforaloanfromIndustrialBankShenzhenBranch,andmortgagedthelanduserightoftheLakeCityProjectplotitheld. | 401,867,324.00 | 401,867,324.00 | Mortgage | Duetotheneedsofdailyoperatingactivities,theCompanyappliedforaloanfromIndustrialBankShenzhenBranch,andmortgagedthelanduserightoftheLakeCityProjectplotitheld. |
| Inventories-LanduserightofPlotsBandDofShenyangDigitalIntelligentCityProjectandPlotDconstructioninprogress | 987,723,102.87 | 905,257,200.61 | Mortgage | Duetotheneedsofdailyoperatingactivities,theCompanyappliedforaloanfromAgriculturalBankofChinaYangzhouBranch,andmortgagedthelanduserightofPlotDof | 523,395,967.09 | 474,272,747.56 | Mortgage | Duetotheneedsofdailyoperatingactivities,theCompanyappliedforaloanfromAgriculturalBankofChinaYangzhouBranch,andmortgagedthelanduserightofPlotDof |
| Item | Ending | Beginning | ||||||
| Bookbalance | Bookvalue | Restrictedtype | Restrictedcondition | Bookbalance | Bookvalue | Restrictedtype | Restrictedcondition | |
| ShenyangDigitalSmartCityProjectandtheconstructioninprogressofPlotsBandD. | ShenyangDigitalSmartCityProjectandtheconstructioninprogressofPlotD. | |||||||
| Investmentproperties | 180,144,668.70 | 180,144,668.70 | Mortgage | Duetotheneedsofdailyoperatingactivities,theCompanyappliedforaloanfrombank,andmortgagedtheself-ownedcommercialpropertiesitheld. | ||||
| Total | 1,682,844,466.02 | 1,600,378,563.76 | 992,580,050.91 | 943,456,831.38 | ||||
Otherexplanations:
30.Short-termborrowings
(1)Classificationofshort-termborrowings
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Creditborrowings | 449,458,211.11 | 190,165,458.33 |
| Total | 449,458,211.11 | 190,165,458.33 |
Descriptionofshort-termborrowingsclassification:
Attheendoftheperiod,thecreditloanswereusedforthedailyoperationsoftheCompany'ssubsidiaries.
(2)Unpaidshort-termborrowingsinmaturityThetotalamountofoverdueandoutstandingshort-termborrowingsattheendofthecurrentperiodisRMB0.00,ofwhichtheimportantoverdueandoutstandingshort-termborrowingsareasfollows:
Unit:RMB
| Borrower | Endingbalance | Borrowinginterestrate | Overduetime | Overdueinterestrate |
Otherexplanations:
31.Financialliabilitiesheldfortrading
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Including: | ||
| Including: |
Otherexplanations:
32.Derivativefinancialliabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Otherexplanations:
33.Notespayable
Unit:RMB
| Category | Endingbalance | Beginningbalance |
ThetotalamountofnotespayableduebutnotpaidattheendofthecurrentperiodisRMB,andthereasonforthenon-paymentis.
34.Accountspayable
(1)Presentationofaccountspayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Payableforengineeringconstruction | 738,732,120.83 | 876,393,730.22 |
| Estimatedaccountspayable | 19,087,563.43 | 27,094,771.04 |
| Others | 117,823,268.42 | 139,603,776.01 |
| Total | 875,642,952.68 | 1,043,092,277.27 |
(2)Significantaccountspayableagingmorethanoneyearoroverdue
Unit:RMB
| Item | Endingbalance | Reasonfornosettlementorcarrying-forward |
| ShenzhenMunicipalBureauofPlanningandLandResources | 25,000,000.00 | Problemsleftoverfromhistory |
| ChinaConstructionThirdEngineeringBureauSecondConstructionEngineeringCo.,Ltd | 116,829,310.75 | Theprojectpaymentmilestonehasnotbeenreached |
| ChinaConstructionFourthEngineeringBureauCo.,Ltd | 4,000,000.10 | Theprojectpaymentmilestonehasnotbeenreached |
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | 7,126,060.00 | Unsettledproject |
| Total | 152,955,370.85 |
Otherexplanations:
(3)Whetherthereareanyoverduepaymentstosmallandmedium-sizedenterprisesWhetheritisalargeenterprise??Yes?NoWhetherthereareanyoverduepaymentstosmallandmedium-sizedenterprises?Yes?No
35.Otherpayables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Dividendspayable | 12,202,676.04 | 12,202,676.04 |
| Otherpayables | 1,189,285,081.42 | 1,219,148,760.34 |
| Total | 1,201,487,757.46 | 1,231,351,436.38 |
(1)Interestpayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Importantoverdueandunpaidinterestsituations:
Unit:RMB
| Borrower | Overdueamount | Reasonforoverdue |
Otherexplanations:
(2)Dividendspayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Ordinarysharesdividends | 12,202,676.04 | 12,202,676.04 |
| Total | 12,202,676.04 | 12,202,676.04 |
Othernotes,includingimportantdividendspayablethathavenotbeenpaidformorethan1year,shalldisclosethereasonsfornon-payment:
| Nameofshareholder | Amountofdividendspayable | Reasonfornon-payment |
| ShenzhenUrbanLandscapingManagementOffice | 10,869,036.68 | Theotherparty'scompanyisrestructured,andthepaymentobjecthasnotbeenclarified |
| LaborUnionCommitteeofShenzhenUrbanLandscapingAdministration | 1,300,000.00 | Theotherparty'scompanyisrestructured,andthepaymentobjecthasnotbeenclarified |
| Others | 33,639.36 | Unabletoobtainthebalancepaymentoftheotherparty'saccountandunpaid |
| Total | 12,202,676.04 |
(3)Otherpayable
1)Listotherpayablebynatureofpayment
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Deposit | 311,614,608.93 | 308,200,904.93 |
| Guarantee | 8,171,499.69 | 9,248,840.93 |
| Agencycollection | 12,112,575.50 | 4,743,853.11 |
| Currentaccounts | 642,819,185.60 | 651,960,088.72 |
| Accruedexpenses | 123,654,014.77 | 148,017,114.40 |
| Withholdingpayments | 6,505,391.90 | 7,494,625.63 |
| Others | 84,407,805.03 | 89,483,332.62 |
| Total | 1,189,285,081.42 | 1,219,148,760.34 |
2)Othersignificantpayableagingoveroneyearoroverdue
Unit:RMB
| Item | Endingbalance | Reasonfornosettlementorcarrying-forward |
| YangzhouTourismDevelopmentPropertyCo.,Ltd. | 345,929,298.79 | Amountsduefromrelatedpartiesoutsidetheconsolidationscope,notyetdueforrepayment |
| ShenzhenJifaWarehousingCo.,Ltd. | 202,296,665.14 | Currentaccounts,withoutspecificrepaymentperiod |
| ChinaConstructionThirdEngineeringBureauSecondConstructionEngineeringCo.,Ltd | 21,597,500.00 | Thedeposithasnotreachedthesettlementperiod |
| ShenzhenQianhaiWeBankCo.,Ltd. | 6,868,109.47 | Theleasetermhasnotexpired |
| ShenzhenTian'anInternationalBuildingPropertyManagementCo.,Ltd. | 5,214,345.90 | Currentaccounts,withoutspecificrepaymentperiod |
| Total | 581,905,919.30 |
Otherexplanations:
36.Advancesfromcustomers
(1)Presentationofadvancesfromcustomers
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Rent | 1,340,490.69 | 1,744,526.75 |
| Total | 1,340,490.69 | 1,744,526.75 |
(2)Importantadvancesfromcustomerswithagingmorethan1yearoroverdue
Unit:RMB
| Item | Endingbalance | Reasonfornosettlementorcarrying-forward |
Unit:RMB
| Item | Changes | Reasonforchanges |
37.Contractliabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Housepaymentreceivedinadvance | 647,550,778.18 | 266,400,127.35 |
| Propertymanagementfeesreceivedinadvance | 18,114,805.21 | 20,619,767.27 |
| Otheraccountsreceivedinadvance | 45,939,712.37 | 49,144,735.10 |
| Total | 711,605,295.76 | 336,164,629.72 |
Significantcontractliabilitieswithagingover1year
Unit:RMB
| Item | Endingbalance | Reasonfornosettlementorcarrying-forward |
| AdvancesfromcustomersforLakeCityProject | 210,715,772.65 | Theconditionsforrevenuerecognitionhavenotyetbeenmet |
| Total | 210,715,772.65 |
Amountandreasonsforsignificantchangesinbookvalueduringthereportingperiod
Unit:RMB
| Item | Changes | Reasonforchanges |
TheCompanyshallcomplywiththedisclosurerequirementsfortherealestateindustryassetoutintheGuidelinesforSelf-RegulationofListedCompaniesofShenzhenStockExchangeNo.3-IndustryInformationDisclosurePaymentinformationforthetopfivepre-saleprojects:
Unit:RMB
| No. | Project | Beginningbalance | Endingbalance | Estimatedcompletiontime | Presaleratio |
| 1 | LakeCityProject | 211,616,690.06 | 419,473,374.48 | September10,2026 | 29.49% |
| 2 | YangzhouShenyangDigitalIntelligentCityProject | 91,743.12 | 142,734,055.03 | June30,2026 | 73.97% |
| 3 | HumenBinhaiHarborProject | 0.00 | 69,133,168.80 | 4.84% | |
| 4 | SZPRD·YutangShangfu | 25,548,025.75 | 11,253,189.96 | 56.67% | |
| 5 | SZPRD·LakesideRoyalViewPhaseII | 458,431.11 | 4,883,586.24 | 95.85% |
38.Employeecompensationpayable
(1)Presentationofemployeecompensationpayable
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
| I.Short-termcompensation | 206,152,359.15 | 836,402,190.44 | 868,448,742.18 | 174,105,807.41 |
| II.Post-employmentbenefits-defined | 1,542,959.24 | 98,153,688.30 | 98,626,139.56 | 1,070,507.98 |
| contributionplans | ||||
| III.Dismissalbenefits | 283,373.22 | 2,453,122.60 | 2,089,689.58 | 646,806.24 |
| Total | 207,978,691.61 | 937,009,001.34 | 969,164,571.32 | 175,823,121.63 |
(2)Presentationofshort-termcompensation
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
| 1.Salaries,bonuses,allowancesandsubsidies | 192,745,116.57 | 734,355,451.18 | 764,772,795.98 | 162,327,771.77 |
| 2.Employeebenefits | 2,027,080.00 | 1,785,109.55 | 2,562,680.37 | 1,249,509.18 |
| 3.Socialinsurancepremiums | 50,655.54 | 29,461,886.64 | 29,457,904.20 | 54,637.98 |
| Including:medicalinsurancepremiums | 46,059.29 | 25,168,818.15 | 25,162,980.66 | 51,896.78 |
| Work-relatedinjuryinsurancepremiums | 1,334.03 | 2,004,891.74 | 2,005,953.59 | 272.18 |
| Maternityinsurancepremiums | 3,262.22 | 2,288,176.75 | 2,288,969.95 | 2,469.02 |
| 4.Housingprovidentfunds | 426,889.53 | 26,503,526.67 | 26,666,466.95 | 263,949.25 |
| 5.Tradeunionfundsandemployeeeducationexpenses | 7,371,886.27 | 15,173,208.27 | 15,421,234.31 | 7,123,860.23 |
| 8.Non-monetarybenefits | 3,530,731.24 | 29,123,008.13 | 29,567,660.37 | 3,086,079.00 |
| Total | 206,152,359.15 | 836,402,190.44 | 868,448,742.18 | 174,105,807.41 |
(3)Presentationofdefinedcontributionplans
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
| 1.Basicendowmentinsurancepremiums | 879,581.04 | 82,201,079.30 | 82,542,592.82 | 538,067.52 |
| 2.Unemploymentinsurancepremiums | 4,156.18 | 6,904,762.32 | 6,905,732.75 | 3,185.75 |
| 3.Enterpriseannuitypayment | 659,222.02 | 9,047,846.68 | 9,177,813.99 | 529,254.71 |
| Total | 1,542,959.24 | 98,153,688.30 | 98,626,139.56 | 1,070,507.98 |
Otherexplanations:
39.Taxespayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Value-addedtax | 23,455,423.34 | 21,171,620.44 |
| Consumptiontax | 6,291.87 | 0.00 |
| Corporateincometax | 31,087,464.90 | 21,591,154.75 |
| Individualincometax | 2,955,720.79 | 4,310,388.69 |
| Urbanmaintenanceandconstructiontax | 1,326,959.94 | 1,320,722.47 |
| Landvalueincrementtax | 17,066,510.13 | 3,173,186,258.33 |
| Landusetaxes | 179,653.49 | 179,847.49 |
| Propertytaxes | 311,746.28 | 396,616.98 |
| Educationsurcharge | 696,993.06 | 684,508.74 |
| Localeducationsurcharges | 531,972.41 | 530,482.69 |
| Others | 392,104.82 | 908,828.94 |
| Total | 78,010,841.03 | 3,224,280,429.52 |
Otherexplanations:
40.Liabilitiesheldforsale
Unit:RMB
| Item | Endingbalance | Beginningbalance |
Otherexplanations:
41.Non-currentliabilitiesmaturingwithinoneyear
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Long-termborrowingsmaturingwithinoneyear | 3,850,883,054.68 | 498,259,873.75 |
| Bondspayableduewithinoneyear | 1,054,166.67 | |
| Long-termpayablesduewithinoneyear | 400,000.00 | 400,000.00 |
| Leaseliabilitiesmaturingwithinoneyear | 12,898,090.94 | 8,042,802.55 |
| Total | 3,865,235,312.29 | 506,702,676.30 |
Otherexplanations:
42.Othercurrentliabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Outputtaxtobetransferred | 58,886,145.36 | 23,186,263.57 |
| Total | 58,886,145.36 | 23,186,263.57 |
Increasesordecreasesinshort-termbondspayable:
Unit:RMB
| Bondname | Bookvalue | Nominalinterestrate | Issuedate | Bondterm | IssueAmount | Beginningbalance | Issuedinthecurrentperiod | Withdrawalofinterestatparvalue | Amortizationofpremiumanddiscount | Repaymentinthecurrentperiod | Endingbalance | Whetherthereisbreachofcontract |
Total
Otherexplanations:
43.Long-termborrowings
(1)Classificationoflong-termborrowings
Unit:RMB
TotalItem
| Item | Endingbalance | Beginningbalance |
| Pledgedloan | 664,188,100.66 | 151,915,696.00 |
| Mortgageloan | 2,062,569,870.34 | 4,424,348,935.26 |
| Creditborrowings | 954,836,941.20 | 179,050,000.00 |
| Total | 3,681,594,912.20 | 4,755,314,631.26 |
Descriptionoftheclassificationoflong-termborrowings:
Thepledgedloan(1)attheendoftheperiodwasusedfortheacquisitionof100%equityoffivepropertymanagementcompanies,ShenzhenPropertyManagementCo.,Ltd.,ShenzhenForeignTradePropertyManagementCo.,Ltd.,ShenzhenShenfubaoPropertyDevelopmentCo.,Ltd.,ShenzhenShenfubaoMunicipalServiceCo.,Ltd.andShenzhenBondedZoneSecurityServiceCo.,Ltd.bythesubsidiaryoftheCompany,ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.ThetermofloanisfromMay18,2022toApril26,2027,andthepledgeis100%equityofthefivecompaniesheldbyShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.Thepledgeloan(2)attheendoftheperiodwasusedforthedevelopmentoftheHumenHarbourPalaceProjectoftheCompany'ssubsidiaryDongguanWuheRealEstateCo.,Ltd.(hereinafterreferredtoasDongguanWuhe).ThetermofloanwasfromAugust5,2022toAugust5,2027.ThepledgewasallthereceivablesofDongguanWuheinthenextfiveyears.Themortgageloan(1)attheendoftheperiodwasusedforthedevelopmentoftheLakeCityprojectofShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.(hereinafterreferredtoasRongyaoRealEstate),asubsidiaryoftheCompany.ThetermofloanwasfromNovember29,2019toNovember20,2026.Thepledgewas69%oftheequityofRongyaoRealEstateheldbytheCompany,andtheCompanyprovidedjointandseveralliabilityguarantee.Themortgageloan(2)attheendoftheperiodwasusedforthedevelopmentofLakeCityProjectofRongyaoRealEstate,asubsidiaryoftheCompany.ThetermofloanwasfromMarch17,2023toMarch30,2026.ThecollateralwasthelanduserightofLakeCityProjectheldbyRongyaoRealEstate,theCompanyprovidedthejointandseveralliabilityguaranteeprovidedbytheCompany,andapledgeguaranteeof69%oftheequityofRongyaoRealEstateheldbytheCompany.Themortgageloan(3)attheendoftheperiodwasusedforthedevelopmentofShenyangDigitalIntelligentCityProjectofYangzhouWuheRealEstateCo.,Ltd.(hereinafterreferredtoasYangzhouWuhe),asubsidiaryoftheCompany.ThetermofloanwasfromJanuary19,2024toJanuary19,2029.ThecollateralwasthelanduserightofPlotDofShenyangDigitalIntelligentCityProjectandtheconstructioninprogressofPlotDheldbyYangzhouWohui,andjointandseveralliabilityguarantee
wasprovidedbytheCompanyandYangzhouLvfaRealEstateCo.,Ltd.accordingtothepercentageofshares.Themortgageloan(4)attheendoftheperiodwasusedfortheCompany'sdailyoperations.TheloantermisfromMay30,2025toMay29,2027,andthecollateralistheCompany'sowncommercialpropertyassets.Themortgageloan(5)attheendoftheperiodwasusedforthedevelopmentofShenyangDigitalIntelligentCityProjectofYangzhouWuhe,asubsidiaryoftheCompany.ThetermofloanwasfromJune30,2025toDecember20,2027.ThecollateralwasthelanduserightofPlotBofShenyangDigitalIntelligentCityProjectheldbyYangzhouWuhe,andjointandseveralliabilityguaranteewasprovidedbytheCompanyandYangzhouLvfaRealEstateCo.,Ltd.accordingtothepercentageofshares.Themortgageloan(6)attheendoftheperiodwasusedforthedailyoperationsofShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.,asubsidiaryoftheCompany.TheloantermisfromAugust12,2025toAugust12,2028,andthecollateralispartofthecommercialassetsheldbytheCompany.Themortgageloan(7)attheendoftheperiodwasusedfortheCompany'sdailyoperations.TheloantermisfromAugust29,2025toAugust28,2028,andthecollateralistheCompany'sowncommercialpropertyassets.Attheendoftheperiod,thecreditloanswereusedfortheCompanytorepayloansfromtherelatedcompaniesandforthedailyoperationsofitssubsidiaries.Otherexplanations,includinginterestraterange:
44.Bondspayable
(1)Bondspayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Bondspayable | 548,187,500.00 | 0.00 |
| Interestpayableonbondsnotyetdue | 1,103,317.25 | |
| Less:Bondspayableduewithinoneyear | -1,054,166.67 | |
| Total | 548,236,650.58 | 0.00 |
(2)Increaseordecreaseinbondspayable(excludingpreferredshares,perpetualbondsandotherfinancialinstrumentsclassifiedasfinancialliabilities)
Unit:RMB
| Bondname | Bookvalue | Nominalinterestrate | Issuedate | Bondterm | IssueAmount | Beginningbalance | Issuedinthecurrentperiod | Withdrawalofinterestatparvalue | Amortizationofpremiumanddiscount | Repaymentinthecurrentperiod | Endingbalance | Whetherthereisbreachofcontract | |
| 25SZPRD01(134664.SZ) | 550,000,000.00 | 2.30% | 2025/11/27 | 3years | 550,000,000.00 | 550,000,000.00 | 1,103,317.25 | 1,812,500.00 | 549,290,817.25 | No | |||
| Total | —— | 550,000,000.00 | 550,000,000.00 | 1,103,317.25 | 1,812,500.00 | 549,290,817.25 | —— | ||||||
(3)Descriptionofconvertiblecorporatebonds
(4)DescriptionofotherfinancialinstrumentsclassifiedasfinancialliabilitiesChangesofoutstandingfinancialinstrumentssuchaspreferredsharesandperpetualbondsattheperiod-endTableofchangesofoutstandingfinancialinstrumentssuchaspreferredsharesandperpetualbondsattheperiod-end
Unit:RMB
| Outstandingfinancialinstruments | Beginning | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Ending | ||||
| Number | Bookvalue | Number | Bookvalue | Number | Bookvalue | Number | Bookvalue | |
DescriptionofthebasisforclassifyingotherfinancialinstrumentsasfinancialliabilitiesOtherexplanations:
45.Leaseliabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Leasepayments | 24,820,172.10 | 21,312,666.88 |
| Less:Unrecognizedfinancingexpenses | -1,319,253.70 | -2,180,791.76 |
| Less:Leaseliabilitymaturingwithinoneyear | -12,898,090.94 | -8,042,802.55 |
| Total | 10,602,827.46 | 11,089,072.57 |
Otherexplanations:
46.Long-termpayables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Long-termpayables | 399,470,977.78 | 399,749,550.00 |
| Total | 399,470,977.78 | 399,749,550.00 |
(1)Presentationoflong-termpayablesbynatureofpayment
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Saleandleasebackfinancingfunds | 399,870,977.78 | 400,149,550.00 |
| Less:Long-termpayablesduewithinoneyear | -400,000.00 | -400,000.00 |
| Total | 399,470,977.78 | 399,749,550.00 |
Otherexplanations:
Thelong-termpayablesattheperiod-endwerethesaleandleasebackfinancingbetweentheCompanyandMaxwealthFinancialLeasingCo.,Ltd.,withtheleasetermfromDecember22,2023toDecember22,2027.
(2)Specialpayables
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | Formationcauses |
Otherexplanations:
47.Long-termemployeecompensationspayable
(1)Statementoflong-termemployeecompensationspayable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
(2)ChangesindefinedbenefitplansPresentvalueofdefinedbenefitplanobligations:
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Planassets:
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Netliabilities(netassets)underdefinedbenefitplans
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Descriptionofthecontentofthedefinedbenefitplansandtherisksassociatedwithit,andtheimpactontheCompany'sfuturecashflows,timeanduncertainty:
Descriptionofmajoractuarialassumptionsandsensitivityanalysisresultsofdefinedbenefitplans:
Otherexplanations:
48.Estimatedliabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance | Formationcauses |
| Pendinglitigation | 973,741.21 | 934,205.51 | ①LitigationbetweenBasepointandFacilityManagementCommunity②LitigationbetweenCPICShenzhenBranchandSZPRD |
| Total | 973,741.21 | 934,205.51 |
Otherexplanations,includingrelevantimportantassumptionsandestimationnotesofimportantestimatedliabilities:
49.Deferredincome
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | Formationcauses |
Otherexplanations:
50.Othernon-currentliabilities
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Specialfundforpublicutilities | 317,468.53 | 537,155.06 |
| Buildingstructuremaintenancefund | 21,286,236.28 | 14,746,480.42 |
| Guaranteeforadmission | 6,553,718.18 | 6,660,398.31 |
| Electricalequipmentmaintenancefund | 4,019,415.44 | 4,019,415.44 |
| Escrowmaintenancefund | 53,885,658.86 | 52,435,075.20 |
| Co-investmentcapitalfromGuanlanbulingProject'semployees | 39,570,000.00 | 40,000,000.00 |
| Others | 3,908,000.31 | 8,521,004.59 |
| Total | 129,540,497.60 | 126,919,529.02 |
Otherexplanations:
51.Sharecapital
Unit:RMB
| Beginningbalance | Changesduringtheperiod(+,-) | Endingbalance | |||||
| Newsharesissued | Bonusissue | Conversionofprovidentfundintoshares | Others | Sub-total | |||
| Totalshares | 595,979,092.00 | 595,979,092.00 | |||||
Otherexplanations:
52.Otherequityinstruments
(1)Changesofoutstandingfinancialinstrumentssuchaspreferredsharesandperpetualbondsattheperiod-end
(2)Tableofchangesofoutstandingfinancialinstrumentssuchaspreferredsharesandperpetualbondsattheperiod-end
Unit:RMB
| Outstandingfinancialinstruments | Beginning | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Ending | ||||
| Number | Bookvalue | Number | Bookvalue | Number | Bookvalue | Number | Bookvalue | |
Changesofotherequityinstrumentsinthecurrentperiod,explanationofthereasonsforthechanges,andthebasisforrelevantaccountingtreatment:
Otherexplanations:
53.Capitalreserve
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
| Othercapitalreserves | 80,488,045.38 | 80,488,045.38 | ||
| Total | 80,488,045.38 | 80,488,045.38 |
Otherexplanations,includingtheincreaseanddecreaseinthecurrentperiodandthereasonsforthechanges:
54.Treasuryshares
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
Otherexplanations,includingtheincreaseanddecreaseinthecurrentperiodandthereasonsforthechanges:
55.Othercomprehensiveincome
Unit:RMB
| Item | Beginningbalance | Amountinthecurrentperiod | Endingbalance | |||||
| Amountbeforeincometaxinthecurrentperiod | Less:theamountincludedinothercomprehensiveincomeinpriorperiodandtransferredtocurrentprofitorloss | Less:retainedincomeincludedinothercomprehensiveincomeinpriorperiodsandtransferredtocurrentprofitorloss | Less:incometaxexpenses | Attributabletoparentcompanyaftertax | Attributabletominorityshareholdersaftertax | |||
| I.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorloss | -3,064,972.70 | -4,277.54 | -4,277.54 | -3,069,250.24 | ||||
| Fairvaluechangesofinvestmentsinotherequityinstruments | -3,064,972.70 | -4,277.54 | -4,277.54 | -3,069,250.24 | ||||
| II.Othercomprehensiveincometobereclassifiedintoprofitorlosslater | 864,617.03 | -1,383,160.74 | -1,383,160.74 | -518,543.71 | ||||
| Foreigncurrencytranslationdifferences | 864,617.03 | -1,383,160.74 | -1,383,160.74 | -518,543.71 | ||||
| Totalofothercomprehensiveincome | -2,200,355.67 | -1,387,438.28 | -1,387,438.28 | -3,587,793.95 | ||||
Otherexplanations,includingtheadjustmentoftheeffectiveportionoftheprofitorlossofthecashflowshedgetotheinitialrecognizedamountofthehedgeditem:
56.Specialreserves
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
Otherexplanations,includingtheincreaseanddecreaseinthecurrentperiodandthereasonsforthechanges:
57.Surplusreserves
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance |
| Statutorysurplusreserve | 125,060,085.08 | 172,929,460.92 | 297,989,546.00 | |
| Discretionarysurplusreserve | 365,403.13 | 365,403.13 | ||
| Total | 125,425,488.21 | 172,929,460.92 | 298,354,949.13 |
Explanationsofthesurplusreserve,includingthechangesinthecurrentperiodandthereasonsforthechanges:
58.Undistributedprofits
Unit:RMB
| Item | Currentperiod | Previousperiod |
| Retainedearningsasattheendofthepreviousperiodbeforetheadjustment | 2,561,990,778.58 | 3,872,586,802.17 |
| Undistributedprofitsatthebeginningoftheperiodafteradjustment | 2,561,990,778.58 | 3,872,586,802.17 |
| Plus:Netprofitattributabletoownersoftheparentcompanyinthisperiod | 33,885,110.58 | -1,114,764,922.17 |
| Less:Withdrawalofstatutorysurplusreserves | 172,929,460.92 | 9,316,761.13 |
| Commonstockdividendspayable | 185,945,476.70 | |
| Others | -753,051.55 | 568,863.59 |
| Undistributedprofitsasattheendoftheperiod | 2,423,699,479.79 | 2,561,990,778.58 |
Detailsofadjustmenttoundistributedprofitsasatthebeginningoftheperiod:
1)DuetotheretroactiveadjustmentoftheAccountingStandardsforBusinessEnterprisesanditsrelatednewregulations,theopeningundistributedprofitswasRMB.
2)Duetothechangeinaccountingpolicies,theopeningundistributedprofitswasRMB.
3)Duetothecorrectionofmajoraccountingerrors,theopeningundistributedprofitswasRMB.
4)Duetothechangeofconsolidationscopecausedbythesamecontrol,theopeningundistributedprofitswasRMB.
5)ThetotalimpactofotheradjustmentsontheopeningundistributedprofitswasRMB.Detailsofusingcapitalreservestocoverlosses:
59.Operatingrevenueandoperatingcosts
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Primarybusiness | 2,292,305,065.27 | 1,732,825,933.72 | 2,670,640,573.12 | 2,249,277,554.33 |
| Otherbusiness | 90,983,184.75 | 4,332,788.02 | 63,518,310.93 | 736,534.00 |
| Total | 2,383,288,250.02 | 1,737,158,721.74 | 2,734,158,884.05 | 2,250,014,088.33 |
ThelowestoftheCompany'sauditedtotalprofit,netprofit,andnetprofitattributabletothelistedcompany’sshareholdersafterexceptionalgainsandlossesduringthereportingperiodwasnegative.??Yes?No
Unit:RMB
| Item | Currentyear | Specificdeductions | Previousyear | Specificdeductions |
| Amountofoperating | 2,383,288,250.02 | Deductthebusiness | 2,734,158,884.05 | Deductthebusiness |
| Item | Currentyear | Specificdeductions | Previousyear | Specificdeductions |
| revenue | revenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporaryresettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,therevenuefromthedisposalofinvestmentproperties,andtheconsultingservicerevenues. | revenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporaryresettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,thedemolitioncompensationrevenuesofFengherili,andtheconsultingservicerevenues. | ||
| Totalamountofoperatingrevenuedeductionitems | 90,983,184.75 | Deductthebusinessrevenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporaryresettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,therevenuefromthedisposalofinvestmentproperties,andtheconsultingservicerevenues. | 63,518,310.93 | Deductthebusinessrevenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporaryresettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,thedemolitioncompensationrevenuesofFengherili,andtheconsultingservicerevenues. |
| Proportionoftotalamountofoperatingrevenuedeductionitemsinoperatingrevenue | 3.82% | 2.32% | ||
| I.Businessrevenuenotrelatedtothemainbusiness | ||||
| 1.Otherbusinessrevenueotherthannormaloperations.Forexample,therevenuerealizedfromtheleaseoffixedassets,intangibleassets,packagingmaterials,salesofmaterials,exchangeofnon-monetaryassetswithmaterials,entrustedmanagementbusiness,etc.,andtheincomethatisincludedintheincomefromprimarybusinessbutisnotpartofthenormaloperationofthelistedcompany. | 90,983,184.75 | Deductthebusinessrevenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporaryresettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,therevenuefromthedisposalofinvestmentproperties,andtheconsultingservicerevenues. | 63,518,310.93 | Deductthebusinessrevenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporaryresettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,thedemolitioncompensationrevenuesofFengherili,andtheconsultingservicerevenues. |
| Subtotalofbusinessrevenuenotrelatedtomainbusiness | 90,983,184.75 | Deductthebusinessrevenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporary | 63,518,310.93 | Deductthebusinessrevenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporary |
| Item | Currentyear | Specificdeductions | Previousyear | Specificdeductions |
| resettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,therevenuefromthedisposalofinvestmentproperties,andtheconsultingservicerevenues. | resettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,thedemolitioncompensationrevenuesofFengherili,andtheconsultingservicerevenues. | |||
| II.Revenuewithoutcommercialsubstance | ||||
| Subtotalofrevenuewithoutcommercialsubstance | 0.00 | Nodeductionsin2025 | 0.00 | Nodeductionsin2024 |
| III.Otherrevenuenotrelatedtothemainbusinessorwithoutcommercialsubstance | 0.00 | Nodeductionsin2025 | 0.00 | Nodeductionsin2024 |
| Operatingrevenueafterdeduction | 2,292,305,065.27 | Deductthebusinessrevenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporaryresettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,therevenuefromthedisposalofinvestmentproperties,andtheconsultingservicerevenues. | 2,670,640,573.12 | Deductthebusinessrevenuesthatarenotrelatedtothemainbusiness,whicharemainlythetemporaryresettlementcompensationrevenuesfromtheshedrenovationprojectonChuanbuStreet,thedemolitioncompensationrevenuesofFengherili,andtheconsultingservicerevenues. |
Breakdownofoperatingrevenueandoperatingcosts:
Unit:RMB
| Contractclassification | Division1 | Division2 | Total | |||||
| Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | |
| Businesstype | 2,383,288,250.02 | 2,734,158,884.05 | 2,383,288,250.02 | 2,734,158,884.05 | ||||
| Including: | ||||||||
| Realestate | 566,898,152.30 | 352,384,575.15 | 566,898,152.30 | 352,384,575.15 | ||||
| Propertymanagement | 1,637,200,390.78 | 1,302,960,305.27 | 1,637,200,390.78 | 1,302,960,305.27 | ||||
| Assetoperation | 179,189,706.94 | 81,813,841.32 | 179,189,706.94 | 81,813,841.32 | ||||
| Classificationbybusinessarea | ||||||||
| Including: | ||||||||
| Contractclassification | Division1 | Division2 | Total | |||||
| Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | |
| Shenzhenarea | 1,971,201,605.30 | 1,357,559,853.21 | 1,971,201,605.30 | 1,357,559,853.21 | ||||
| Otherareas | 412,086,644.72 | 379,598,868.53 | 412,086,644.72 | 379,598,868.53 | ||||
| Marketorcustomertype | ||||||||
| Including: | ||||||||
Contracttype
| Contracttype |
| Including: |
Classificationbytimeofcommoditytransfer
| Classificationbytimeofcommoditytransfer |
| Including: |
Classificationbycontractperiod
| Classificationbycontractperiod |
| Including: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
Informationrelatedtoperformanceobligations:
Total
Item
| Item | Timetofulfillperformanceobligations | Importantpaymentterms | NatureofthegoodstheCompanyundertakestotransfer | Whetheritisthemainresponsibleperson | AmountsassumedbytheCompanythatareexpectedtoberefundedtocustomers | TypesofqualityassuranceprovidedbytheCompanyandrelatedobligations |
OtherexplanationsInformationrelatedtothetransactionpricesallocatedtotheremainingperformanceobligations:
TheamountofrevenuecorrespondingtotheperformanceobligationsthathadbeensignedbutnotyetperformedornotyetcompletedattheendofthereportingperiodwasRMB711,605,295.76,ofwhichRMB118,980,813.13wasexpectedtoberecognizedasrevenuein2026,RMB591,572,314.95wasexpectedtoberecognizedasrevenuein2027,andRMB1,052,167.68wasexpectedtoberecognizedasrevenuein2028andthereafter.
Informationaboutthevariableconsiderationinthecontract:
Majorcontractchangeormajortransactionpricesadjustmentofparentcompany
Unit:RMB
| Item | Accountingtreatments | Amountofimpactonrevenue |
Otherexplanations:
TheCompanyshallcomplywiththedisclosurerequirementsfortherealestateindustryassetoutintheGuidelinesforSelf-RegulationofListedCompaniesofShenzhenStockExchangeNo.3-IndustryInformationDisclosureInformationonthetopfiveitemsintermsofrevenuerecognizedduringthereportingperiod:
Unit:RMB
| No. | Project | Incomeamount |
| 1 | SZPRD·YutangShangfu | 341,553,547.71 |
| 2 | SZPRD·CoveredBridgeInternational | 88,109,996.19 |
| 3 | SZPRD·GoldenLingHoliday | 64,177,679.95 |
| 4 | SZPRD·RoyalGardenPhaseA | 6,316,400.00 |
| 5 | SZPRD·JunfengLishe | 786,357.80 |
60.Taxesandsurcharges
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Consumptiontax | 6,291.87 | |
| Urbanmaintenanceandconstructiontax | 5,208,679.81 | 4,422,844.05 |
| Educationsurcharge | 2,342,021.57 | 1,906,313.24 |
| Propertytaxes | 10,577,341.65 | 10,869,473.40 |
| Landusetaxes | 2,171,596.35 | 2,135,524.88 |
| Localeducationsurtax | 1,511,980.24 | 1,271,801.53 |
| Landvalueincrementtax | 97,810,077.36 | 64,009,266.08 |
| Othertaxes | 2,951,060.82 | 2,296,727.51 |
| Total | 122,579,049.67 | 86,911,950.69 |
Otherexplanations:
61.G&Aexpenses
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Employeecompensation | 186,414,398.29 | 214,830,675.48 |
| Administrativeofficeexpenses | 7,012,475.87 | 22,204,967.59 |
| Amortizationanddepreciationcostofassets | 20,378,838.93 | 26,963,578.43 |
| Litigationcosts | 1,149,616.30 | 808,759.23 |
| Others | 22,780,874.82 | 19,625,121.01 |
| Total | 237,736,204.21 | 284,433,101.74 |
Otherexplanations:
62.Sellinganddistributionexpenses
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Intermediaryagencyfees | 29,725,284.46 | 9,576,621.10 |
| Consultingandsalesservicefees | 3,326,938.58 | 7,170,279.84 |
| Advertisingandpublicityexpenses | 4,573,754.26 | 8,545,172.46 |
| Employeecompensation | 14,361,929.61 | 10,375,132.31 |
| Others | 12,529,228.90 | 8,328,779.70 |
| Total | 64,517,135.81 | 43,995,985.41 |
Otherexplanations:
63.R&Dexpenses
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Employeecompensation | 4,714,388.56 | 4,816,649.05 |
| Depreciationandamortizationcost | 27,532.62 | 28,482.42 |
| Others | 100,501.10 | 506,676.97 |
| Total | 4,842,422.28 | 5,351,808.44 |
Otherexplanations:
64.Financialexpenses
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Interestexpenses | 123,346,936.11 | 68,401,770.57 |
| Interestincome | -13,758,946.05 | -31,389,808.25 |
| Profitorlossonexchange | 98,842.17 | 778,902.74 |
| Servicefeeandothers | 4,045,670.13 | 3,252,783.69 |
| Total | 113,732,502.36 | 41,043,648.75 |
Otherexplanations:
65.Otherincome
Unit:RMB
| Sourceofotherincome | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Governmentsubsidiesrelatedtorevenue | 13,361,936.00 | 3,059,786.92 |
| Refundofservicefeeforwithholdingindividualincometax | 317,207.84 | 314,568.77 |
| Additionaldeductionofvalue-addedtaxinput | -80,226.78 | -834,439.22 |
| Refundofvalue-addedtax | 846,762.80 | 2,021,797.08 |
| Total | 14,445,679.86 | 4,561,713.55 |
66.Netgainonexposurehedges
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Otherexplanations:
67.Gainsfromchangesinfairvalue
Unit:RMB
| Sourcesofgainsfromchangesinfairvalue | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Financialassetsheldfortrading | 1,765,714.20 | 0.00 |
| Total | 1,765,714.20 | 0.00 |
Otherexplanations:
68.Investmentincome
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Long-termequityinvestmentincomecalculatedundertheequitymethod | 930,705.77 | 184,223,509.99 |
| Investmentincomefromdisposaloflong-termequityinvestments | 1,450,000.00 | |
| Gainonrestructuringofdebt | -54,026.93 | |
| Total | 930,705.77 | 185,619,483.06 |
Otherexplanations:
69.Creditloss
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Lossesfrombaddebtsofaccountsreceivable | -403,131.70 | -9,475,193.14 |
| Baddebtlossofotherreceivables | -6,894,523.64 | -353,613,204.14 |
| Total | -7,297,655.34 | -363,088,397.28 |
Otherexplanations:
70.Assetsimpairmentloss
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| I.Inventoriesdepreciationlossandcontractperformancecostimpairmentlosses | -2,859.74 | -1,036,113,360.07 |
| X.Lossesfromimpairmentofgoodwill | -5,004,983.08 | 0.00 |
| Total | -5,007,842.82 | -1,036,113,360.07 |
Otherexplanations:
71.Gainsfromdisposalofassets
Unit:RMB
| Sourceofgainsfromdisposalofassets | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Gainsondisposaloffixedassets("-"forlosses) | 30,652.60 | -10,823.66 |
| Gainsondisposalofright-of-useassets("-"forlosses) | 114,084.75 | 98,669.52 |
| Total | 144,737.35 | 87,845.86 |
72.Non-operatingrevenue
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountincludedinthecurrentnon-recurringprofitorloss |
| Gainsfromexchangeofnon-monetaryassets | 8,750.34 | 240.00 | 8,750.34 |
| Confiscatedincome | 12,744,961.31 | 544,705.46 | 12,744,961.31 |
| Gainsfromunclaimedpayables | 2,203,044.85 | 2,203,044.85 | |
| Others | 742,319.20 | 522,860.11 | 742,319.20 |
| Total | 15,699,075.70 | 1,067,805.57 | 15,699,075.70 |
Otherexplanations:
73.Non-operatingexpenses
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountincludedinthecurrentnon-recurringprofitorloss |
| Lossesfromexchangeofnon-monetaryassets | 288,388.15 | 187,340.31 | 288,388.15 |
| Donationsmade | 8,000.00 | ||
| Litigationexpenses | 1,879,644.55 | ||
| Extraordinarylosses | 167,812.70 | 4,000.00 | 167,812.70 |
| Penaltiesandlatefees | 275,497.83 | 372,270.64 | 275,497.83 |
| Others | 958,754.13 | 5,904,708.99 | 958,754.13 |
| Total | 1,690,452.81 | 8,355,964.49 | 1,690,452.81 |
Otherexplanations:
74.Incometaxexpenses
(1)Incometaxexpensesschedule
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Incometaxexpensesforthecurrentperiod | 62,101,702.19 | 50,805,402.42 |
| Deferredtaxexpenses | 54,917,126.01 | 42,525,748.58 |
| Total | 117,018,828.20 | 93,331,151.00 |
(2)Adjustmentprocessofaccountingprofitsandincometaxexpenses
Unit:RMB
| Item | Amountinthecurrentperiod |
| Totalprofits | 121,712,175.86 |
| Incometaxexpensescalculatedatstatutory/applicabletaxrate | 30,428,043.97 |
| Influenceofdifferenttaxratesapplicabletosubsidiaries | -1,850,420.90 |
| Influenceofadjustmentstotheincometaxfortheprioryears | 3,136,963.45 |
| Influenceofnon-taxableincome | -232,676.44 |
| Influenceofnondeductiblecosts,expensesandlosses | 1,121,121.88 |
| Influenceofdeductiblelossesontheuseofpreliminarilyunrecognizeddeferredtaxassetsinpreviousperiods | -13,193,080.98 |
| Effectofdeductibletemporarydifferencesordeductiblelossesfromdeferredtaxassetsunrecognizedinthecurrentperiod | 98,335,240.56 |
| TaximpactoftheadditionforthedeductionofR&Dexpenses("-"forlosses) | -726,363.34 |
| Incometaxexpenses | 117,018,828.20 |
Otherexplanations:
75.OthercomprehensiveincomeFordetails,seeNoteVII.55.
76.Itemsofstatementofcashflows
(1)CashrelatedtooperatingactivitiesOthercashreceivedrelatedtooperatingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Largecurrentaccountsreceived | 48,515,441.84 | 278,508,648.94 |
| Interestincomereceived | 13,703,905.69 | 40,033,974.92 |
| Netamountofvariousdeposits,guaranteesandspecialfundsreceived | 103,036,361.31 | 102,896,047.58 |
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Governmentgrantsreceived | 8,111,343.93 | 3,059,786.92 |
| Othermiscellaneousfundsreceived | 70,773,513.68 | 45,871,591.13 |
| Decreaseinrestrictedfundsthecurrentperiod | 2,650,478.47 | 12,490,938.87 |
| Total | 246,791,044.92 | 482,860,988.36 |
Notestoothercashreceivedrelatedtooperatingactivities:
Othercashpaidrelatedtooperatingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| G&Aexpensespaidincash | 31,516,679.61 | 39,111,851.22 |
| Sellinganddistributionexpensespaidincash | 66,056,697.44 | 18,208,447.58 |
| Netamountofvariouspaymentsandreceiptsonbehalfofotherssuchaspaidutilities | 95,117,668.76 | 170,693,541.68 |
| Othermiscellaneousfundspaid | 171,117,809.25 | 130,134,090.94 |
| Increaseinrestrictedfundsinthecurrentperiod | 683,533.00 | 3,570,155.21 |
| Total | 364,492,388.06 | 361,718,086.63 |
Notestoothercashpaidrelatedtooperatingactivities:
(2)CashrelatedtoinvestingactivitiesOthercashreceivedrelatedtoinvestingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Importantcashreceivedrelatedtoinvestingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | 65,095,861.85 | 55,903,425.50 |
| Recoveryoftimedeposits | 57,412,000.00 | |
| Total | 122,507,861.85 | 55,903,425.50 |
Notestoothercashreceivedrelatedtoinvestingactivities:
Othercashpaidrelatedtoinvestingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Importantcashpaidrelatedtoinvestingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Purchaseoftimedeposits | 74,132,898.98 | 57,412,000.00 |
| Purchaseoffunds | 300,000,000.00 | |
| Total | 374,132,898.98 | 57,412,000.00 |
Notestoothercashpaidrelatedtoinvestingactivities:
(3)CashrelatedtofinancingactivitiesOthercashreceivedrelatedtofinancingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Issuanceofbonds | 548,981,500.00 | |
| Total | 548,981,500.00 | 0.00 |
Notestoothercashreceivedrelatedtofinancingactivities:
Othercashpaidrelatedtofinancingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Amountpaidforrepaymentofleaseliabilities | 13,894,308.11 | 16,584,505.64 |
| Cashconsiderationpaidbythecombiningpartyofbusinesscombinationundercommoncontrolonthecombinationdate | 136,518.90 | 568,863.59 |
| Amountpaidforsaleandleaseback | 18,624,887.50 | 18,693,137.50 |
| Othermiscellaneousfundspaid | 2,446,730.24 | 1,368,000.00 |
| Total | 35,102,444.75 | 37,214,506.73 |
Notestoothercashpaidrelatedtofinancingactivities:
Changesinvariousliabilitiesarisingfromfinancingactivities??Applicable?Notapplicable
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | ||
| Cashchanges | Non-cashchanges | Cashchanges | Non-cashchanges | |||
| Short-termborrowingsandlong-termborrowings | 5,443,739,963.35 | 4,529,513,359.21 | 240,471,254.09 | 2,231,788,398.65 | 7,981,936,178.00 | |
| Bondspayable | 548,981,500.00 | 1,103,317.25 | 794,000.00 | 549,290,817.25 | ||
| Leaseliabilities | 19,131,875.12 | 18,263,351.39 | 13,894,308.11 | 23,500,918.40 | ||
| Long-termpayables | 400,149,550.00 | 18,346,315.28 | 18,624,887.50 | 399,870,977.78 | ||
| Total | 5,863,021,388.47 | 5,078,494,859.21 | 278,184,238.01 | 2,265,101,594.26 | 8,954,598,891.43 | |
(4)Notestocashflowsexpressedinnetamount
| Item | Relevantfacts | Basisforpresentationofnetamount | Financialimpact |
(5)Significantactivitiesandfinancialimpactsthatdonotinvolvecurrentcashreceiptsandpayments,butaffectthefinancialpositionoftheenterpriseormayaffectthecashflowsinthefutureNotapplicable
77.Supplementaryinformationtothestatementofcashflows
(1)Supplementaryinformationtothestatementofcashflows
Unit:RMB
| Supplementaryinformation | Thecurrentperiod | Amountinpreviousperiod |
| 1.Netprofitadjustedtocashflowsfromoperatingactivities: | ||
| Netprofit | 4,693,347.66 | -1,287,143,724.11 |
| Plus:provisionforassetsimpairment | 12,305,498.16 | 1,399,201,757.35 |
| Depreciationoffixedassets,depletionofoilandgasassets,depreciationofproductivebiologicalassets | 42,321,897.41 | 51,987,250.80 |
| Depreciationofright-of-useassets | 12,985,495.03 | 13,691,114.95 |
| Amortizationofintangibleassets | 396,004.78 | 418,235.75 |
| Amortizationoflong-termdeferredexpenses | 8,616,446.00 | 8,903,786.44 |
| Lossesfromdisposaloffixedassets,intangibleassetsandotherlong-termassets("-"forgains) | -144,737.35 | -87,845.86 |
| Lossesonwrite-offoffixedassets("-"forgains) | 279,637.81 | 187,580.31 |
| Lossesfromchangesinfairvalue("-"forgains) | -1,765,714.20 | |
| Financialexpenses("-"forgains) | 126,667,175.62 | 68,369,233.02 |
| Investmentslosses("-"forgains) | -930,705.77 | -185,619,483.06 |
| Supplementaryinformation | Thecurrentperiod | Amountinpreviousperiod |
| Decreasesindeferredtaxassets(“-”forincreases) | 1,019,483,198.12 | 44,287,863.94 |
| Increaseindeferredtaxliabilities("-"fordecreases) | 1,872,137.48 | -1,762,115.35 |
| Decreasesininventories("-"forincreases) | -256,518,426.29 | -495,134,772.53 |
| Decreasesinoperatingreceivables(“-”forincreases) | 26,062,914.30 | -79,181,787.39 |
| Increasesinoperatingpayables(“-”fordecreases) | -3,082,393,830.39 | -962,115,268.78 |
| Others | ||
| Netcashflowsfromoperatingactivities | -2,086,069,661.63 | -1,423,998,174.52 |
| 2.Significantinvestingandfinancingactivitiesnotinvolvingincashreceiptsandpayments: | ||
| Transferofdebtsintocapital | ||
| Convertiblecorporatebondsmaturingwithin1year | ||
| Fixedassetsleasedfromfinancing | ||
| 3.Netchangeincashandcashequivalents: | ||
| Endingbalanceofcash | 2,042,045,384.98 | 1,610,799,884.30 |
| Less:beginningbalanceofcash | 1,610,799,884.30 | 2,733,139,135.12 |
| Plus:endingbalanceofcashequivalents | ||
| Less:beginningbalanceofcashequivalents | ||
| Netincreaseincashandcashequivalents | 431,245,500.68 | -1,122,339,250.82 |
(2)Netcashpaidforacquisitionofsubsidiariesinthecurrentperiod
Unit:RMB
| Amount | |
| Including: | |
| Including: | |
| Including: |
Otherexplanations:
(3)Netcashreceivedfordisposalofsubsidiariesinthecurrentperiod
Unit:RMB
| Amount | |
| Including: | |
| Including: | |
| Including: |
Otherexplanations:
(4)Breakdownsofcashandcashequivalents
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| I.Cash | 2,042,045,384.98 | 1,610,799,884.30 |
| Including:cashonhand | 7,741.04 | 10,705.64 |
| Unrestrictedbankdeposits | 2,040,335,431.24 | 1,610,628,980.11 |
| Otherunrestrictedmonetaryfunds | 1,702,212.10 | 160,198.55 |
| III.Endingbalanceofcashandcashequivalents | 2,042,045,384.98 | 1,610,799,884.30 |
| Including:cashandcashequivalentswithrestricteduserightbyparentcompanyorsubsidiariesoftheGroup | 82,297,671.21 | 67,316,759.82 |
(5)Limitedusebutstillpresentedascashandcashequivalents
Unit:RMB
| Item | Thecurrentperiod | Amountinpreviousperiod | Reasonsforclassifiedascashandcashequivalents |
| Pre-salefundsofLakeCityProject | 306,932,570.99 | 222,638,954.72 | Thiswasthecapitalwithinthepre-salesupervisionquotaoftheproject.Poteviocouldapplyforpayingtheconstructionexpenditureandrelevantstatutorytaxesoftheprojectinaccordancewiththerelevantregulationsonthesupervisionofpre-salefunds. |
| Pre-salefundsofShenyangDigitalIntelligentCityProject | 2,976,937.58 | 0.00 | Thiswasthecapitalwithinthepre-salesupervisionquotaoftheproject.Poteviocouldapplyforpayingtheconstructionexpenditureandrelevantstatutorytaxesoftheprojectinaccordancewiththerelevantregulationsonthesupervisionofpre-salefunds. |
| Pre-salefundsofGuangmingYutangShangfuProject | 0.00 | 249,758,757.74 | Thiswasthecapitalwithinthepre-salesupervisionquotaoftheproject.Poteviocouldapplyforpayingtheconstructionexpenditureandrelevantstatutorytaxesoftheprojectinaccordancewiththerelevantregulationsonthesupervisionofpre-salefunds. |
| Total | 309,909,508.57 | 472,397,712.46 |
(6)Monetaryfundsnotclassifiedascashandcashequivalents
Unit:RMB
| Item | Thecurrentperiod | Amountinpreviousperiod | Reasonsfornotclassifiedascashandcashequivalents |
Otherexplanations:
(7)Notesonothersignificantactivities
78.Notestothestatementsofchangesinowners'equitySpecifythenameof"others"itemsadjustedtotheendingbalanceofthepreviousyear,theadjustedamountandothermatters:
Notapplicable
79.Foreigncurrencymonetaryitems
(1)Foreigncurrencymonetaryitems
Unit:RMB
| Item | Endingbalanceofforeigncurrency | Exchangerateofconversion | EndingbalanceoftranslatedRMB |
| Monetaryfunds | 73,545,083.29 | ||
| Including:USD | 120,000.00 | 7.0288 | 843,456.00 |
| EUR | |||
| HKD | 68,456,880.28 | 0.9032 | 61,831,623.41 |
| VND | 40,559,716,029.00 | 0.000268 | 10,870,003.88 |
| Accountsreceivable | |||
| Including:USD | |||
| EUR | |||
| HKD | |||
| VND | 16,926,227,486.00 | 0.000268 | 4,536,229.01 |
| Long-termborrowings | |||
| Including:USD | |||
| EUR | |||
| HKD | |||
| Prepayment | 35,326.36 | ||
| Including:USD | |||
| VND | 30,539,568.00 | 0.0002680 | 8,184.60 |
| HKD | 30,050.00 | 0.9032 | 27,141.76 |
| Otherreceivables | 5,121,632.59 | ||
| Including:USD | |||
| VND | 851,129,966.00 | 0.0002680 | 228,102.83 |
| HKD | 5,417,871.35 | 0.9032 | 4,893,529.76 |
| Accountspayable | 1,215,563.87 | ||
| Including:USD |
| VND | 4,346,953,546.00 | 0.0002680 | 1,164,983.55 |
| HKD | 56,000.00 | 0.9032 | 50,580.32 |
| Otherpayables | 5,268,205.47 | ||
| Including:USD | |||
| VND | 4,249,024,141.00 | 0.0002680 | 1,138,738.47 |
| HKD | 4,571,939.28 | 0.9032 | 4,129,467.00 |
Otherexplanations:
(2)Descriptionofforeignoperatingentities,including,forsignificantforeignoperatingentities,disclosureoftheirprincipalplaceofbusinessoutsideofthecountry,therecordingcurrencyandthebasisofselection,anddisclosureofthereasonsforanychangeintherecordingcurrency??Applicable?Notapplicable
| Item | Mainpremiseoverseas | Recordingcurrency | Basisforselectionofrecordingcurrency |
| ShumYipPropertiesDevelopmentLimited | HongKong | HKD | ThecompanyislocatedinHongKongandismainlysettledinHKD |
| VietnamShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | Vietnam | VND | ThecompanyislocatedinVietnamandmainlysettlesinVND |
80.Lease
(1)TheCompanyactedaslessee:
??Applicable?NotapplicableVariableleasepaymentsnotincludedinthemeasurementofleaseliabilities
□Applicable?NotapplicableLeaseexpenseofshort-termleasesorlow-valueassetswithsimplifiedtreatment??Applicable?Notapplicable
| Item | Amountinthecurrentperiod |
| Short-termleasesexpenses | 4,092,451.87 |
| Low-valueleaseexpenses | |
| Variableleasepaymentsnotincludedinthemeasurementofleaseliabilities | |
| Total | 4,092,451.87 |
Thetotalcashoutflowrelatedtoleasesforthecurrentyear(includingtheportionmeasuredasleaseliabilities,thesimplifiedshort-termleaseexpensesandlow-valueassetleaseexpenses,andthesale-and-leasebackportion)wasRMB36,611,647.48.Situationsinvolvingsaleandleasebacktransactions
InDecember2023,theCompanysignedasaleandleasebackcontractwithMaxwealthFinancialLeasingCo.,Ltd.,agreeingtotransferpartoftheofficefacilities,withaleasebackperiodof48months.Sincethefixedassetshadnotbeentransferredtothebuyerfrombeginningtoend,itwasjudgedthatitdidnotbelongtosales,andthepaymentreceivedwasaccountedforasaliability.
(2)TheCompanyactedasthelessorOperatingleaseaslessor??Applicable?Notapplicable
Unit:RMB
| Item | Leaseincome | Including:revenuerelatedtovariableleasepaymentsnotincludedinleasereceipts |
| Leaseitem | 179,189,706.94 | |
| Total | 179,189,706.94 |
Financingleaseasthelessor
□Applicable?NotapplicableUndiscountedleasereceiptsforeachofthenextfiveyears??Applicable?Notapplicable
Unit:RMB
| Item | Annualundiscountedleasereceipts | |
| Endingamount | Beginningamount | |
| TheFirstyear | 131,345,799.05 | 110,941,561.06 |
| TheSecondyear | 92,600,290.28 | 77,676,433.74 |
| TheThirdyear | 63,579,624.06 | 56,801,516.42 |
| TheFourthyear | 42,681,268.05 | 37,483,824.97 |
| TheFifthyear | 30,994,695.92 | 24,132,445.44 |
| Totalundiscountedleasereceiptsafterfiveyears | 9,900,601.74 | 15,978,340.37 |
Reconciliationofundiscountedleasereceiptsandnetleaseinvestment
(3)Recognizetheprofitorlossfromfinancingleasesalesasamanufacturerordistributor
□Applicable?Notapplicable
81.DataresourcesNotapplicable
82.OthersVIII.R&Dexpenditures
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Personnelexpenses | 4,714,388.56 | 4,816,649.05 |
| Depreciationandamortizationexpenses | 27,532.62 | 28,482.42 |
| Others | 100,501.10 | 506,676.97 |
| Total | 4,842,422.28 | 5,351,808.44 |
| Including:expensedR&Dexpenditures | 4,842,422.28 | 5,351,808.44 |
1.R&Dprojectseligibleforcapitalization
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | ||||
| Internaldevelopmentexpenses | Others | Recognizedasintangibleassets | Transferintocurrentprofitorloss | |||||
Total
SignificantcapitalizedR&Dprojects
Total
Item
| Item | R&Dprogress | Estimatedcompletiontime | Productionmethodofexpectedeconomicbenefits | Timingofcapitalizationcommencement | Specificbasisforcapitalizationcommencement |
Provisionforimpairmentofdevelopmentexpenses
Unit:RMB
| Item | Beginningbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Endingbalance | Impairmenttest |
2.Importantoutsourcedprojectsunderresearch
| Project | Methodsinwhicheconomicbenefitsareexpectedtoarise | Judgmentcriteriaandspecificbasisforcapitalizationorexpense |
Otherexplanations:
IX.Changesinconsolidationscope
1.Businesscombinationnotundercommoncontrol
(1)Businesscombinationnotundercommoncontroloccurredinthecurrentperiod
Unit:RMB
| Nameofacquiree | Timepointofequityacquisition | Costsofequityacquisition | Equityacquisitionratio | Methodsofequityacquisition | Acquisitiondate | Determinationbasisoftheacquisitiondate | Revenueoftheacquireefromtheacquisitiondatetotheendoftheperiod | Netprofitoftheacquireefromtheacquisitiondatetotheendoftheperiod | Cashflowsoftheacquireefromtheacquisitiondatetotheendoftheperiod |
Otherexplanations:
(2)Combinationcostsandgoodwill
Unit:RMB
| Combinationcosts |
| --Cash |
| --Fairvalueofnon-cashassets |
| --Fairvalueofdebtissuedorassumed |
| --Fairvalueofequitysecuritiesissued |
| --Fairvalueofthecontingentconsideration |
| --Fairvalueoftheequityheldbeforethepurchasedateontheacquisitiondate |
| --Others |
| Totalcombinationcosts |
| Less:fairvalueshareofnetidentifiableassets |
| Goodwill/combinationcostlessthantheamountoffairvalueshareofnetidentifiableassetsacquired |
Determinationmethodoffairvalueofcombinationcost:
NotestocontingentconsiderationanditschangesMainreasonsfortheformationoflargegoodwill:
Otherexplanations:
(3)Identifiableassetsandliabilitiesoftheacquireeontheacquisitiondate
Unit:RMB
| Fairvalueonacquisitiondate | Bookvalueonacquisitiondate | |
| Assets: | ||
| Monetaryfunds | ||
| Accountsreceivable | ||
| Inventories | ||
| Fixedassets | ||
| Intangibleassets |
Liabilities:
| Liabilities: |
| Borrowing |
| Accountspayable |
| Deferredtaxliabilities |
Netassets
| Netassets |
| Less:minorityequity |
| Netassetsacquired |
Determinationmethodoffairvalueofidentifiableassetsandliabilities:
Contingentliabilitiesoftheacquireeassumedinthebusinesscombination:
Otherexplanations:
(4)GainsorlossesarisingfromtheequityheldbeforetheacquisitiondateremeasuredatfairvalueWhethertherewasatransactionthatrealizedbusinesscombinationstepbystepthroughmultipletransactionsandobtainedrightofcontrolduringthereportingperiod?Yes?No
(5)Notestothefairvalueofthecombinationconsiderationortheacquiree'sidentifiableassetsandliabilitiesthatcannotbereasonablydeterminedattheendofthepurchasedateorthecurrentperiodofthemerger
(6)Otherexplanations
2.Businesscombinationundercommoncontrol
(1)Businesscombinationundercommoncontroloccurredinthecurrentperiod
Unit:RMB
| Nameofthecombinedparty | Ratioofequityacquiredinbusinesscombination | Basisforconstitutingbusinesscombinationundercommoncontrol | Combinationdate | Determinationbasisofthecombinationdate | Revenueofthecombinedpartyfromthebeginningoftheperiodtothecombinationdate | Netprofitofthecombinedpartyfromthebeginningoftheperiodtothecombinationdate | Revenueofthecombinedpartyduringthecomparisonperiod | Netprofitofthecombinedpartyduringthecomparisonperiod |
Otherexplanations:
(2)Combinationcosts
Unit:RMB
| Combinationcosts |
| --Cash |
| --Bookvalueofnon-cashassets |
| --Bookvalueofdebtissuedorassumed |
| --Parvalueofequitysecuritiesissued |
| --Contingentconsideration |
Notestocontingentconsiderationanditschanges:
Otherexplanations:
(3)Bookvalueoftheassetsandliabilitiesofthecombinedpartyonthecombinationdate
Unit:RMB
| Combinationdate | Attheendofpreviousperiod | |
| Assets: | ||
| Monetaryfunds | ||
| Accountsreceivable | ||
| Inventories | ||
| Fixedassets | ||
| Intangibleassets |
Liabilities:
| Liabilities: |
| Borrowing |
| Accountspayable |
Netassets
| Netassets |
| Less:minorityequity |
| Netassetsacquired |
Contingentliabilitiesofthecombinedpartyassumedinthebusinesscombination:
Otherexplanations:
3.CounterpurchaseBasicinformationofthetransaction,basisforthetransactiontoconstituteareversepurchase,whethertheassetsandliabilitiesretainedbythelistedcompanyconstituteabusinessandthebasisthereof,determinationofthecombinationcost,andtheamountofequityadjustedwhenthetransactionistreatedasanequitytransactionanditscalculation:
4.DisposalofsubsidiariesWhethertherewereanytransactionsoreventsduringtheperiodinwhichcontroloverthesubsidiaryislost?Yes?NoWhethertherearemultipletransactionsandstep-by-stepdisposaloftheinvestmentinasubsidiaryleadingthelossofthecontrolrightoverthesubsidiaryinthecurrentperiod?Yes?No
5.ChangeofconsolidationscopeduetootherreasonsDescribechangesinthescopeofconsolidationduetootherreasons(e.g.,establishmentofnewsubsidiaries,liquidationofsubsidiaries,etc.)andtherelatedsituations:
Thesubsidiary,HuihengDevelopmentCo.,Ltd.,completeditscancellationregistrationonApril3,2025.
6.OthersX.Equityinotherentities
1.Equityinthesubsidiaries
(1)CompositionsoftheGroup
Unit:RMB
| Nameofsubsidiaries | Registeredcapital | Mainpremise | Registrationplace | Businessnature | Shareholdingratio | Methodofacquisition |
Direct
| Direct | Indirect | ||||||
| ShenzhenHuangchengRealEstateCo.,Ltd. | 30,000,000.00 | Shenzhen | Shenzhen | Realestatedevelopmentandoperation | 100.00% | Establishment | |
| ShenzhenWuheIndustryInvestmentandDevelopmentCo.,Ltd. | 100,000,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 100.00% | Establishment | |
| ShenzhenFacilityManagementCommunityCo.,Ltd. | 15,453,000.00 | Shenzhen | Shenzhen | Softwareandinformationtechnologyservices | 35.00% | Businesscombinationnotundercommoncontrol | |
| BeijingFacilityManagementCommunityTechnologyCo.,Ltd. | 5,000,000.00 | Beijing | Beijing | Softwareandinformationtechnologyservices | 17.85% | Businesscombinationnotundercommoncontrol | |
| SZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd. | 50,000,000.00 | Xuzhou | Xuzhou | Realestatedevelopmentandoperation | 100.00% | Establishment | |
| DongguanITCChangshengRealEstateDevelopmentCo.,Ltd. | 20,000,000.00 | DongguanCity | DongguanCity | Realestatedevelopmentandoperation | 100.00% | Establishment | |
| SZPRDYangzhouRealEstateDevelopmentCo.,Ltd. | 50,000,000.00 | YangzhouCity | YangzhouCity | Realestatedevelopmentandoperation | 100.00% | Establishment | |
| ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | 20,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Establishment | |
| ShenzhenGuomaomeiLifeServiceCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Establishment | |
| ShandongShenzhenInternationalTradeCenter | 5,000,000.00 | Jinan | Jinan | Propertymanagement | 100.00% | Establishment |
| Nameofsubsidiaries | Registeredcapital | Mainpremise | Registrationplace | Businessnature | Shareholdingratio | Methodofacquisition | |
| Direct | Indirect | ||||||
| PropertyManagementCo.,Ltd. | |||||||
| ChongqingShenguomaoRealEstateManagementCo.,Ltd. | 5,000,000.00 | Chongqing | Chongqing | Propertymanagement | 100.00% | Establishment | |
| ChongqingAoboElevatorCo.,Ltd. | 5,000,000.00 | Chongqing | Chongqing | Constructionandinstallation | 100.00% | Establishment | |
| ShenzhenTianqueElevatorTechnologyCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Constructionandinstallation | 100.00% | Establishment | |
| ShenzhenInternationalTradeCenterMechanicalandElectricalEquipmentCo.,Ltd. | 1,200,000.00 | Shenzhen | Shenzhen | Constructionandinstallation | 100.00% | Establishment | |
| ShenzhenGuomaoCateringCo.,Ltd. | 2,000,000.00 | Shenzhen | Shenzhen | Cateringservices | 100.00% | Establishment | |
| ShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd. | 3,000,000.00 | Shenzhen | Shenzhen | Engineeringsupervisionservices | 100.00% | Establishment | |
| ShenzhenPropertyCommercialOperationCo.,Ltd. | 40,000,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 100.00% | Establishment | |
| ShumYipPropertiesDevelopmentLimited | 20,000,000.001 | HongKong | HongKong | Realestateleasingoperation | 100.00% | Establishment | |
| YangzhouSlenderWestLakeJingyuePropertyDevelopmentCo.,Ltd. | 10,000,000.00 | YangzhouCity | YangzhouCity | Propertymanagement | 51.00% | Establishment | |
| ShandongShenzhenITCHotelManagementCo.,Ltd. | 3,000,000.00 | Jinan | Jinan | Cateringservices | 100.00% | Establishment | |
| ShenzhenShenShanSpecialCooperationZoneShenzhenInternationalTradeCenterPropertyManagementDevelopmentCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 65.00% | Establishment | |
| ShenzhenITCTonglePropertyManagementCo.,Ltd. | 2,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 51.00% | Establishment | |
| Nameofsubsidiaries | Registeredcapital | Mainpremise | Registrationplace | Businessnature | Shareholdingratio | Methodofacquisition | |
| Direct | Indirect | ||||||
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Realestatedevelopmentandoperation | 69.00% | Businesscombinationnotundercommoncontrol | |
| ShenzhenITCTechnologyParkServiceCo.,Ltd. | 30,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenITCChuntianCommercialManagementCo.,Ltd. | 20,000,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenPenghongyuanIndustrialDevelopmentCo.,Ltd. | 8,000,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenJinhailianPropertyManagementCo.,Ltd. | 3,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenSocialWelfareCo.,Ltd. | 35,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenFuyuanminPropertyManagementCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenMeilongIndustrialDevelopmentCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenITCShenlvGardenCo.,Ltd. | 10,600,000.00 | Shenzhen | Shenzhen | Propertymanagement | 90.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenJiayuanPropertyManagementCo.,Ltd. | 1,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 54.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenHelinhuaConstructionManagementCo.,Ltd. | 3,000,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 90.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenKangpingIndustrialCo.,Ltd. | 1,000,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 90.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenSportsServiceCo.,Ltd. | 3,300,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenJiaoshizhijiaTrainingCo.,Ltd. | 1,660,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenEducation | 4,985,610.00 | Shenzhen | Shenzhen | Realestateleasing | 100.00% | Businesscombinations | |
| Nameofsubsidiaries | Registeredcapital | Mainpremise | Registrationplace | Businessnature | Shareholdingratio | Methodofacquisition | |
| Direct | Indirect | ||||||
| IndustryCo.,Ltd. | operation | undercommoncontrol | |||||
| ShenzhenYufaIndustrialCo.,Ltd. | 1,050,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 80.95% | Businesscombinationsundercommoncontrol | |
| ShenzhenSZPRDFuyuantaiDevelopmentCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Realestatedevelopmentandoperation | 100.00% | Establishment | |
| XiamenShenzhenITCChanchengSmartServiceCo.,Ltd. | 5,000,000.00 | Xiamen | Xiamen | Propertymanagement | 51.00% | Establishment | |
| VietnamShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | 200,000.002 | Vietnam | Vietnam | Propertymanagement | 100.00% | Establishment | |
| ShenzhenSZPRDSwallowLakeDevelopmentCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Realestatedevelopmentandoperation | 100.00% | Establishment | |
| ShenzhenGuangmingWuheRealEstateCo.,Ltd. | 50,000,000.00 | Shenzhen | Shenzhen | Realestatedevelopmentandoperation | 100.00% | Establishment | |
| DongguanWuheRealEstateCo.,Ltd. | 50,000,000.00 | DongguanCity | DongguanCity | Realestatedevelopmentandoperation | 100.00% | Establishment | |
| ShenzhenPropertyManagementCo.,Ltd. | 7,250,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenShenwuElevatorCo.,Ltd. | 3,500,000.00 | Shenzhen | Shenzhen | Constructionandinstallation | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenShenfangPropertyCleaningCo.,Ltd. | 1,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenForeignTradePropertyManagementCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenShenfubaoPropertyDevelopmentCo.,Ltd. | 15,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenFubaoUrbanResourcesManagementCo.,Ltd. | 5,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 60.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenShenfubaoMunicipal | 10,000,000.00 | Shenzhen | Shenzhen | Constructionandinstallation | 100.00% | Businesscombinationsundercommon | |
| Nameofsubsidiaries | Registeredcapital | Mainpremise | Registrationplace | Businessnature | Shareholdingratio | Methodofacquisition | |
| Direct | Indirect | ||||||
| ServiceCo.,Ltd. | control | ||||||
| ShenzhenFreeTradeZoneSecurityServiceCo.,Ltd. | 2,000,000.00 | Shenzhen | Shenzhen | Propertymanagement | 100.00% | Businesscombinationsundercommoncontrol | |
| ShenzhenWuheUrbanRenewalCo.,Ltd. | 195,000,000.00 | Shenzhen | Shenzhen | Realestatedevelopmentandoperation | 100.00% | Establishment | |
| YangzhouWuheRealEstateCo.,Ltd. | 50,000,000.00 | YangzhouCity | YangzhouCity | Realestatedevelopmentandoperation | 67.00% | Establishment | |
| ShenzhenTongluWuheInvestmentDevelopmentCo.,Ltd. | 10,000,000.00 | Shenzhen | Shenzhen | Realestateleasingoperation | 100.00% | Establishment | |
| ShenzhenITCSpaceServiceCo.,Ltd. | 2,800,000.00 | Shenzhen | Shenzhen | Propertymanagement | 55.00% | Establishment | |
Note:1HKD2USDNotestothedifferencesbetweentheshareholdingratioandtheproportionofvotingrightsinthesubsidiary:
InMay2021,theCompany'ssubsidiary,ShenzhenWuheIndustryInvestmentandDevelopmentCo.,Ltd.(WuheIndustryInvestmentandDevelopmentforshort),acquired35%oftheequityofShenzhenFacilityManagementCommunityCo.,Ltd.(FacilityManagementCommunityforshort)throughequityacquisitionandtargetedcapitalincrease.Atthesametime,accordingtotheequityacquisitioncooperationframeworkagreementsignedbytheWuheIndustryInvestmentandDevelopmentandtheoriginalshareholders,fromthedateofcompletionofthetransaction,theoriginalshareholdersunconditionallygranted16%ofthevotingrightoftheequityintheFacilityManagementCommunitytheyheldoractuallycontrolledtotheWuheIndustryInvestmentandDevelopment.Thegrantofthevotingrighthadnopreconditions,andthetermofthevotingrightwasnotstipulatedinthecontract.Thebasisforholdinghalforlessthanhalfofthevotingrightsbutstillcontrollingtheinvestees,andholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestees:
NotapplicableBasisofcontrollingsignificantstructuredentitiesincorporatedintheconsolidationscope:
NotapplicableBasisfordeterminingwhetherthefirmisagentorprincipal:
NotapplicableOtherexplanations:
(2)Significantnon-wholly-ownedsubsidiaries
Unit:RMB
| Nameofsubsidiaries | Shareholdingratiobyminorityshareholders | Profitorlossattributabletominorityshareholdersinthisperiod | Dividendsdeclaredtobedistributedtominorityshareholdersinthisperiod | Balanceofminorityinterestsasattheendoftheperiod |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 31.00% | -31,294,351.14 | -170,466,250.94 | |
| YangzhouWuheRealEstateCo.,Ltd. | 33.00% | -692,222.96 | -40,455,251.52 |
Notestothedifferencesbetweentheshareholdingratiosbyminorityshareholdersinsubsidiariesandthecorrespondingvotingratios:
Otherexplanations:
(3)Keyfinancialinformationofsignificantnon-wholly-ownedsubsidiaries
Unit:RMB
| Nameofsubsidiaries | Endingbalance | Beginningbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | Totalliabilities | |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 7,296,881,676.92 | 90,323,283.90 | 7,387,204,960.82 | 7,936,333,402.25 | 762,466.47 | 7,937,095,868.72 | 6,725,051,372.49 | 140,217,499.61 | 6,865,268,872.10 | 3,821,045,512.12 | 3,493,164,972.23 | 7,314,210,484.35 |
| YangzhouWuheRealEstateCo.,Ltd. | 1,635,161,182.59 | 215,155.85 | 1,635,376,338.44 | 1,511,198,139.38 | 246,769,870.34 | 1,757,968,009.72 | 1,429,178,920.12 | 673,371.49 | 1,429,852,291.61 | 1,311,427,424.41 | 238,918,893.14 | 1,550,346,317.55 |
Unit:RMB
| Nameofsubsidiaries | Amountinthecurrentperiod | Amountinthepreviousperiod | ||||||
| Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | Operatingrevenue | Netprofit | Totalcomprehensiveincome | Cashflowsfromoperatingactivities | |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | -100,949,295.65 | -100,949,295.65 | 3,336,247,191.84 | -425,822,985.60 | -425,822,985.60 | -231,418,503.15 | ||
| YangzhouWuheRealEstateCo.,Ltd. | -2,097,645.34 | -2,097,645.34 | -64,620,767.91 | -135,982,753.53 | -135,982,753.53 | -294,336,494.28 | ||
Otherexplanations:
(4)SignificantrestrictionsontheuseofassetsoftheGroupbysubsidiariesandliquidationofdebtsoftheGroup
(5)FinancialsupportorothersupportsprovidedtostructuredentitiesincludedintothescopeofconsolidatedfinancialstatementsOtherexplanations:
2.Transactionsleadingtochangesintheshareofowners'equityinsubsidiariesandstillcontrollingthesubsidiaries
(1)Explanationofchangesintheshareofowners'equityinsubsidiary
(2)Impactofthetransactiononminorityinterestsandowners'equityattributabletotheparentcompany
Unit:RMB
| Purchasecost/disposalconsideration |
| --Cash |
| --Fairvalueofnon-cashassets |
Totalpurchasecost/disposalconsideration
| Totalpurchasecost/disposalconsideration |
| Less:shareofnetassetsofsubsidiarycalculatedaccordingtotheratioofequityacquired/disposed |
| Difference |
| Including:adjustmentofcapitalreserve |
| Adjustmentofsurplusreserves |
| Adjustmentofundistributedprofits |
Otherexplanations:
3.Equityinjointventuresorassociates
(1)Significantjointventuresorassociates
| Nameofjointventuresorassociates | Mainpremise | Registrationplace | Businessnature | Shareholdingratio | Accountingtreatmentforinvestmentinjointventuresorassociates | |
| Direct | Indirect | |||||
| ShenzhenPropertyJifaWarehousingCo.,Ltd. | Shenzhen | Shenzhen | Warehousingservices | 25.00% | 25.00% | Accountingbyequitymethod |
| ShenzhenTian'anInternationalBuildingPropertyManagementCo.,Ltd. | Shenzhen | Shenzhen | Propertymanagement | 50.00% | Accountingbyequitymethod | |
| ChinaConstructionEngineeringCorporationGroupSmartParkingTechnologyCo.,Ltd. | Shenzhen | Shenzhen | Commercialservices | 10.00% | Accountingbyequitymethod | |
Notestothedifferencebetweentheshareholdingratioandtheproportionofvotingrightsinthejointventuresorassociates:
Basisforholdinglessthan20%votingrightbutwithsignificantinfluence,orholding20%ormorevotingrightbutwithoutsignificantinfluence:
(2)Keyfinancialinformationofsignificantjointventures
Unit:RMB
| Endingbalance/amountincurredinthecurrentperiod | Beginningbalance/amountincurredinpreviousperiod | |||
| JifaWarehousing | Tian'anPropertyManagement | JifaWarehousing | Tian'anPropertyManagement | |
| Currentassets | 489,921,347.59 | 56,331,457.00 | 611,947,126.30 | 57,343,010.43 |
| Including:cashandcashequivalents | 91,412,909.55 | 28,913,566.97 | 214,143,035.38 | 36,335,565.40 |
| Non-currentassets | 11,838.69 | 31,676.49 | 284,847.56 | 44,161.33 |
| Totalassets | 489,933,186.28 | 56,363,133.49 | 612,231,973.86 | 57,387,171.76 |
| Currentliabilities | 25,039,956.54 | 30,130,956.02 | 147,518,773.45 | 29,195,202.15 |
| Non-currentliabilities | 16,853,016.59 | 16,713,827.17 | ||
| Totalliabilities | 25,039,956.54 | 46,983,972.61 | 147,518,773.45 | 45,909,029.32 |
| Minorityinterests | ||||
| Equityattributabletoshareholdersoftheparentcompany | 464,893,229.74 | 9,379,160.88 | 464,713,200.41 | 11,478,142.44 |
| Netassetsharecalculatedbasedonshareholdingratio | 232,446,614.87 | 4,689,580.44 | 232,356,600.21 | 5,739,071.22 |
| Adjustedmatters | ||||
| --Goodwill | ||||
| --unrealizedprofitofinternaltransactions | ||||
| --Others | ||||
| Bookvalueofequityinvestmentinjointventures | 232,446,615.63 | 4,689,580.45 | 232,356,600.97 | 5,739,071.23 |
| Fairvalueofequityinvestmentsinjointventureswithpubliclyquotedprices | ||||
| Operatingrevenue | 9,544,127.63 | 12,281,629.12 | 4,795,838.23 | 11,355,950.99 |
| Financialexpenses | -73,491.22 | -1,062,195.08 | -50,468.13 | -430,563.58 |
| Incometaxexpenses | 7,664,619.18 | 122,861,946.86 | ||
| Netprofit | 180,029.33 | -2,098,981.56 | 368,581,564.93 | -2,623,732.21 |
| Netprofitfromdiscontinuedoperations | ||||
| Othercomprehensiveincome | ||||
| Totalcomprehensive | 180,029.33 | -2,098,981.56 | 368,581,564.93 | -2,623,732.21 |
| Endingbalance/amountincurredinthecurrentperiod | Beginningbalance/amountincurredinpreviousperiod | |||
| JifaWarehousing | Tian'anPropertyManagement | JifaWarehousing | Tian'anPropertyManagement | |
| income | ||||
Dividendsreceivedfromjointventuresduringtheyear
Otherexplanations:
(3)Keyfinancialinformationofsignificantassociates
Unit:RMB
DividendsreceivedfromjointventuresduringtheyearEndingbalance/amountincurredinthe
currentperiod
| Endingbalance/amountincurredinthecurrentperiod | Beginningbalance/amountincurredinpreviousperiod | |
| ChinaConstructionScienceAndIndustryCorporationLTD | ChinaConstructionScienceAndIndustryCorporationLTD | |
| Currentassets | 283,525,967.43 | 292,106,487.07 |
| Non-currentassets | 298,963,156.58 | 88,143,320.13 |
| Totalassets | 582,489,124.01 | 380,249,807.20 |
| Currentliabilities | 297,287,838.30 | 173,994,765.30 |
| Non-currentliabilities | 72,191,241.06 | 20,359,252.41 |
| Totalliabilities | 369,479,079.36 | 194,354,017.71 |
Minorityinterests
| Minorityinterests | ||
| Equityattributabletoshareholdersoftheparentcompany | 213,010,044.65 | 185,895,789.49 |
| Netassetsharecalculatedbasedonshareholdingratio | 21,301,004.47 | 18,589,578.95 |
| Adjustedmatters | ||
| --Goodwill | ||
| --unrealizedprofitofinternaltransactions | ||
| --Others | ||
| Bookvalueofequityinvestmentsinassociates | 31,866,381.31 | 30,092,133.32 |
| Fairvalueofequityinvestmentsinassociateswithpubliclyquotedprices | ||
| Operatingrevenue | 335,646,878.39 | 260,448,745.66 |
| Netprofit | 18,901,818.83 | 12,445,936.25 |
| Netprofitfromdiscontinuedoperations | ||
| Othercomprehensiveincome | ||
| Totalcomprehensiveincome | 18,901,818.83 | 12,445,936.25 |
Dividendsreceivedfromassociatesduringtheyear
| Dividendsreceivedfromassociatesduringtheyear | 115,933.90 | 93,455.02 |
Otherexplanations:
(4)Summarizedfinancialinsignificantofunimportantjointventuresandassociates
Unit:RMB
| Endingbalance/amountincurredinthecurrentperiod | Beginningbalance/amountincurredinpreviousperiod | |
| Jointventures: | ||
| Totalamountsofthefollowingitemscalculatedatshareholdingratio | ||
| Associates: | ||
| Totalamountsofthefollowingitemscalculatedatshareholdingratio |
Otherexplanations:
(5)DescriptionofsignificantrestrictionsontheabilityofjointventuresorassociatestotransferfundstotheCompany
(6)Excesslossesincurredbyjointventuresorassociates
Unit:RMB
| Nameofjointventuresorassociates | Accumulatedunrecognizedlossesaccumulatedinpreviousperiods | Lossesnotrecognizedinthecurrentperiod(ornetprofitsharedinthecurrentperiod) | Accumulatedunrecognizedlossesattheendofthecurrentperiod |
Otherexplanations:
(7)Unrecognizedcommitmentsrelatedtoinvestmentsinjointventures
(8)Contingentliabilitiesrelatedtojointventuresorinvestmentsinassociates
4.Importantjointoperation
| Jointoperationname | Mainpremise | Registrationplace | Businessnature | Shareholdingratio/shareenjoyed(%) | |
| Direct | Indirect | ||||
Notestothedifferencebetweentheshareholdingratioandtheproportionofvotingrightsinjointoperations:
Ifthejointoperationsisaseparateentity,thebasisforclassifyingitasjointoperations:
Otherexplanations:
5.EquityinthestructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatementsRelatednotestostructuringsubjectsnotincludedinthescopeofconsolidatedfinancialstatementsinthecurrentperiod:
Notapplicable
6.OthersXI.Governmentgrants
1.Governmentgrantsnotrecognizedbyamountsreceivableattheendofthereportingperiod
□Applicable?NotapplicableReasonsfornotreceivingtheexpectedamountsofgovernmentgrantsattheexpectedtime
□Applicable?Notapplicable
2.Liabilityitemsinvolvinggovernmentgrants
□Applicable?Notapplicable
3.Governmentgrantsincludedinthecurrentprofitorloss?Applicable?Notapplicable
Unit:RMB
| Accountingitem | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Otherincome | 13,361,936.00 | 3,059,786.92 |
Otherexplanations:
XII.Risksassociatedwithfinancialinstruments
1.VariousrisksarisingfromfinancialinstrumentsTheCompany'smainfinancialinstrumentsincludecashandcashequivalents,accountsreceivable,otherreceivables,othercurrentassets,investmentsinotherequityinstruments,accountspayable,otherpayables,short-termborrowings,non-currentliabilitiesduewithinoneyear,long-termborrowings,bondspayable,leaseliabilities,andlong-termpayables.Detailsofeachfinancialinstrumenthavebeendisclosedintherelevantnotes.TherisksrelatedtothesefinancialinstrumentsandtheriskmanagementpoliciesadoptedbytheCompanytomitigatetheserisksaredescribedbelow.TheCompany'smanagementmanagesandmonitorstheseexposurestoensurethattherisksarecontrolledwithincertainlimits.
(1)Riskmanagementobjectivesandpolicies
ThemainrisksarisingfromtheCompany'sfinancialinstrumentsarecreditrisk,liquidityrisk,andmarketrisk(includingforeignexchangeraterisk,interestraterisk,andcommoditypricerisk).TheCompany'sgoalinriskmanagementistostrikeanappropriatebalancebetweenriskandreturn,minimizethenegativeimpactofriskontheCompany'soperatingperformance,andmaximizethebenefitsofshareholdersandotherequityinvestors.Basedonthisriskmanagementobjective,theCompany'sbasicriskmanagementstrategyistodetermineandanalyzevariousrisksfacedbythecompany,establishanappropriaterisktolerancebottomlineandriskmanagement,andtimelyandreliablesupervisionofvariousrisks,tocontroltheriskwithinthelimitedscope.
TheCompanydiversifiestherisksoffinancialinstrumentsthroughappropriatediversifiedinvestmentsandbusinessportfolios,andreducesriskconcentratedonasingleindustry,aspecificregion,oraspecificcounterpartybyformulatingappropriateriskmanagementpolicies.
a.CreditriskCreditriskreferstotheriskthattheCompanywillincurfinanciallossesduetothefailureofthecounterpartytoperformitscontractualobligations.TheCompanymanagesthecreditriskbyportfolio.Creditriskmainlyarisesfrombankdeposits,accountsreceivable,otherreceivables,etc.TheCompany'sbankdepositsaremainlydepositedinstate-ownedbanksandotherlargeandmedium-sizedlistedbanks,andtheCompanyexpectsthatthereisnosignificantcreditriskinthebankdeposits.Foraccountsreceivableandotherreceivables,theCompanyhassetuprelevantpoliciestocontroltheexposureofcreditrisk.TheCompanyevaluatesthecreditqualificationsofcustomersandsetsthecorrespondingcreditperiodbasedonthefinancialstatus,credithistoryandotherfactorssuchasthecurrentmarketconditionsofcustomers.TheCOOECwouldmonitorthecustomers'creditrecordsperiodically;asforthecustomerswithbadcreditrecords,theCOOECwouldadoptthemethodsincludingrequestingapaymentinwritingorshorteningorcancelingcredittermsoastokeeptheCOOEC'soverallcreditriskswithincontrollablescope.ThedebtorsoftheCompany'saccountsreceivablearecustomersdistributedindifferentindustriesandregions.TheCompanycontinuouslyconductscreditevaluationsonthefinancialstatusofaccountsreceivableandpurchasescreditguaranteeinsurancewhenappropriate.ThemaximumcreditriskexposureoftheCompanyshallbethecarryingamountofeachfinancialassetinthebalancesheet.TheCompanyhasnotprovidedanyotherguaranteethatmaysubjecttheCompanytocreditrisk.IntheCompany'saccountsreceivable,theaccountsreceivableofthetopfivecompaniesinarrearsaccountedfor36.69%oftheCompany'stotalaccountsreceivable(2024:49.49%);intheCompany'sotherreceivables,theotherreceivablesofthetopfivecompaniesinarrearsaccountedfor86.79%(2024:86.94%)ofthetotalotherreceivablesoftheCompany.
b.LiquidityriskLiquidityriskreferstotheriskthattheCompanywillencounterashortageoffundswhenfulfillingitsobligationstosettleincashorotherfinancialassets.Whenmanagingliquidityrisk,theCompanymaintainscashandcashequivalentsthattheManagementbelievesaresufficientandmonitorsthemtomeettheCompany'soperationalneedsandreducetheimpactofcashflowsfluctuations.TheManagementoftheCompanymonitorstheuseofbankborrowingsandensurescompliancewiththeloanagreement.Atthesametime,theCompanyhasobtainedcommitmentsfrommajorfinancialinstitutionstoprovidesufficientstandbyfundstomeetshort-termandlong-termfundingneeds.TheCompanyfinancesitsworkingcapitalthroughfundsgeneratedfromitsoperationsandbankandotherborrowings.Attheendoftheperiod,thefinancialliabilitiesandoff-balanceguaranteeitemsheldbytheCompanywereanalyzedasfollowsaccordingtothematurityoftheundiscountedremainingcontractualcashflows(unit:RMB10,000):
| Item | Endingbalance | |||
| Within1year | Within1to3years | Morethan3years | Total | |
| Financialliabilities: | ||||
| Short-termborrowingsandlong-termborrowings | 92,034.54 | 351,081.68 | 3,124.73 | 446,240.95 |
| Item | Endingbalance | |||
| Within1year | Within1to3years | Morethan3years | Total | |
| Accountspayable | 87,564.30 | 87,564.30 | ||
| Otherpayables | 118,928.51 | 1,220.27 | 120,148.78 | |
| Non-currentliabilitiesmaturingwithinoneyear | 386,523.53 | 386,523.53 | ||
| Othercurrentliabilities(excludingdeferredincome) | 5,888.61 | 5,888.61 | ||
| Bondspayable | 54,823.67 | 54,823.67 | ||
| Leaseliabilities | 1,269.78 | 538.98 | 1,808.76 | |
| Long-termpayables | 39,947.10 | 39,947.10 | ||
| Totalfinancialliabilitiesandcontingentliabilities | 690,939.49 | 447,122.23 | 4,883.98 | 1,142,945.70 |
Attheendofthepreviousyear,thefinancialliabilitiesandoff-balanceguaranteeitemsheldbytheCompanywereanalyzedaccordingtothematurityoftheundiscountedremainingcontractualcashflowsasfollows(unit:RMB10,000):
| Item | Balanceasattheendofthepreviousyear | |||
| Within1year | Within1to3years | Morethan3years | Total | |
| Financialliabilities: | ||||
| Short-termborrowingsandlong-termborrowings | 18,241.68 | 459,942.67 | 34,740.89 | 512,925.24 |
| Accountspayable | 104,309.23 | 104,309.23 | ||
| Otherpayables | 121,914.87 | 1,220.27 | 123,135.14 | |
| Non-currentliabilitiesmaturingwithinoneyear | 50,868.12 | 50,868.12 | ||
| Othercurrentliabilities(excludingdeferredincome) | 2,318.63 | 2,318.63 | ||
| Leaseliabilities | 1,373.57 | 941.53 | 2,315.10 | |
| Long-termpayables | 1,822.49 | 44,368.28 | 46,190.77 | |
| Totalfinancialliabilitiesandcontingentliabilities | 299,475.02 | 505,684.52 | 36,902.69 | 842,062.23 |
Theamountoffinancialliabilitiesdisclosedintheabovetablewastheundiscountedcontractualcashflows,soitmightbedifferentfromthebookvalueinthebalancesheet.
c.MarketriskMarketriskassociatedwithfinancialinstrumentsreferstotheriskthatfairvalueorfuturecashflowsoffinancialinstrumentsfluctuateduetovariationsinmarketprices,anditincludesexchangeraterisk,interestrateriskandotherpricerisks.InterestrateriskInterestrateriskreferstotheriskoffluctuationsinthefairvalueorfuturecashflowsoffinancialinstrumentsarisingfromchangesinmarketinterestrates.Interestrateriskcanarisefromrecognizedinterest-bearingfinancialinstrumentandunrecognizedfinancialinstrument(e.g.certainloancommitment).
TheCompany'sinterestrateriskmainlyarisesfrombankborrowings.FinancialliabilitieswithfloatinginterestratesexposetheCompanytocashflowsinterestraterisk,andfinancialliabilitieswithfixedinterestrateexposetheCompanytofairvalueinterestraterisk.TheCompanydeterminestherelativeratiooffixedinterestrateandfloatingratecontractsbasedontheprevailingmarketconditions,andmaintainsanappropriatemixoffixedandfloatingrateinstrumentsthroughregularreviewandmonitoring.TheCompanycloselymonitorstheimpactoffluctuationininterestratechangesontheCompany'sinterestraterisk.TheCompanydoesnotcurrentlyhaveaninterestratehedgingpolicy.However,theManagementisresponsibleformonitoringinterestrateriskandwillconsiderhedgingsignificantinterestrateriskwhenrequired.Risinginterestrateswillincreasethecostofnewinterest-bearingdebtandtheinterestexpensesoftheCompany'soutstandinginterest-bearingdebtatfloatingrates,andhaveasignificantadverseimpactontheCompany'sfinancialperformance.TheManagementwillmaketimelyadjustmentsbasedonthelatestmarketconditions,whichmaybeinterestrateswapstoreduceinterestraterisk.Theinterest-bearingfinancialinstrumentsheldbytheCompanyareasfollows(unit:RMB10,000):
| Item | Amountinthisperiod | Amountinpreviousperiod |
| Fixedinterestratefinancialinstruments | ||
| Financialliabilities | ||
| Including:short-termborrowings | 44,945.82 | 19,016.55 |
| Long-termborrowingsmaturingwithinoneyear | 385,088.31 | 49,825.99 |
| Long-termborrowings | 368,159.49 | 475,531.46 |
| Total | 798,193.62 | 544,374.00 |
Attheendoftheperiod,iftheinterestrateonfloating-rateborrowingsincreasesordecreasesby25basispointswhileotherfactorsremainunchanged,theCompany'snetprofitandshareholders'equitywilldecreaseorincreasebyapproximatelyRMB231,300(endoflastyear:RMB126,300).ForfinancialinstrumentsheldonthebalancesheetdatethatexposetheCompanytofairvalueinterestraterisk,theimpactofnetprofitandshareholders'equityintheabovesensitivityanalysisistheimpactaftertheabovefinancialinstrumentsareremeasuredatthenewinterestrateassumingthattheinterestratechangesonthebalancesheetdate.Forfloatingratenon-derivativesheldonthebalancesheetdatethatexposetheCompanytocashflowsinterestraterisk,theimpactofnetprofitandshareholders'equityintheabovesensitivityanalysisistheimpactoftheaboveinterestratechangesoninterestexpensesorincomeestimatedonanannualbasis.Thepreviousyear'sanalysiswasbasedonthesameassumptionsandmethodology.d.ExchangerateriskExchangerateriskreferstotheriskthatthefairvalueorfuturecashflowsofthefinancialinstrumentwillfluctuateduetochangesinforeignexchangerates.Exchangerateriskcanarisefromfinancialinstrumentsdenominatedinforeigncurrenciesotherthanrecordingcurrency.TheCompany'smainbusinessislocatedinChina,anditsmainbusinessissettledinRMB.However,therearestillforeignexchangerisksfortheCompany'srecognizedforeigncurrencyassetsandliabilitiesandfutureforeigncurrencytransactions(thevaluationcurrenciesofforeigncurrencyassetsandliabilitiesandforeigncurrencytransactionsaremainlyHKD,VNDandUSD).Attheendoftheperiod,theforeigncurrencyfinancialassetsandforeigncurrencyfinancialliabilitiesheldbytheCompanyaretranslatedintoRMBasfollows(unit:RMB10,000):
| Item | Foreigncurrencyliabilities | Foreigncurrencyassets | ||
| Endingbalance | Balanceasattheendofthepreviousyear | Endingbalance | Balanceasattheendofthepreviousyear | |
| HKD | 418.00 | 387.01 | 6,675.23 | 6,640.79 |
| VND | 230.37 | 283.75 | 1,564.25 | 1,390.38 |
| USD | 84.35 | 86.26 | ||
| Total | 648.37 | 670.76 | 8,323.83 | 8,117.43 |
TheCompanycloselymonitorstheimpactoffluctuationinexchangerateontheCompany'sexchangeraterisk.TheCompanyisnotcurrentlytakinganymeasurestoavoidexchangeraterisk.However,theManagementisresponsibleformonitoringexchangerateriskandwillconsiderhedgingsignificantexchangerateriskwhenrequired.Attheendoftheperiod,fortheCompany'scashandcashequivalentsdenominatedinforeigncurrencies,assumingthattheRMBappreciatesordepreciatesby10%againstforeigncurrencies(mainlyagainstHKD,VND,andUSD)whileotherfactorsremainunchanged,theCompany'sshareholders'equityandnetprofitwillbothincreaseordecreasebyapproximatelyRMB5,756,600(endoflastyear:approximatelyRMB7,011,200).
(2)CapitalmanagementTheobjectiveoftheCompany'scapitalmanagementpolicyistoensurethattheCompanycancontinueasagoingconcern,therebyprovidingreturnsforshareholdersandbenefitingotherstakeholders,whilemaintaininganoptimalcapitalstructuretoreducethecostofcapital.Tomaintainoradjustthecapitalstructure,theCompanymayadjustfinancingmethods,adjusttheamountofdividendspaidtoshareholders,returncapitaltoshareholders,issuenewsharesandotherequityinstruments,orsellassetstoreducethedebt.TheCompanymonitorsitscapitalstructurebasedonthedebt-to-assetratio(i.e.,totalliabilitiesdividedbytotalassets).Attheendoftheperiod,theCompany'sdebt-to-assetratiowas79.04%(endoflastyear:78.88%).
2.Hedging
(1)TheCompanyconductshedgingbusinessforriskmanagement
□Applicable?Notapplicable
(2)TheCompanyconductseligiblehedgingbusinessandapplieshedgeaccounting
Unit:RMB
| Item | Bookvaluerelatedtothehedgeditemandthehedginginstrument | Cumulativefairvaluehedgeadjustmentincludedinthebookvalueofthehedgeditemrecognized | Hedgeeffectivenessandsourceofineffectivepartofhedge | ImpactofhedgeaccountingontheCompany'sfinancialstatements |
| Typeofhedgingrisk | ||||
| Typeofhedging | ||||
Otherexplanations
(3)TheCompanyconductshedgingbusinessforriskmanagement,andisexpectedtoachieveriskmanagementobjectivesbutdoesnotapplyhedgingaccounting
□Applicable?Notapplicable
3.Financialassets
(1)Classificationoftransfermethods
□Applicable?Notapplicable
(2)Financialassetsderecognitionduetotransfer
□Applicable?Notapplicable
(3)Continuedinvolvementinthetransferoffinancialassets
□Applicable?NotapplicableOtherexplanationsXIII.Disclosureoffairvalue
1.Endingfairvalueofassetsandliabilitiesmeasuredatfairvalue
Unit:RMB
| Item | Fairvalueasattheendoftheperiod | |||
| Measuredatthefairvalueofthe1stlevel | Measuredatthefairvalueofthe2ndlevel | Measuredatthefairvalueofthe3rdlevel | Total | |
| I.Continuousmeasurementoffairvalue | -- | -- | -- | -- |
| (III)Investmentsinotherequityinstruments | 567,317.70 | 567,317.70 | ||
| II.Measurementatfairvaluenotonagoingconcern | -- | -- | -- | -- |
2.BasisforrecognitionofthemarketpriceofitemsmeasuredatfairvalueofLevel1onagoingandnon-goingconcern
3.Qualitativeandquantitativevaluationtechniquesandimportantparametersofsustainableandnon-sustainableitemsmeasuredonthebasisoffairvalueoflevel2
4.Continuousandnon-continuousLevel3fairvaluemeasurementitems,valuationtechniquesused,andthequalitativeandquantitativeinformationofimportantparameters
5.Theinformationofadjustmentbetweenthebeginningandtheendofthebookvalueandanalysisonthesensitivityoftheunobservableparametersofsustainableandnon-sustainableitemsmeasuredonthebasisoffairvalueoftierthree
6.Continuousmeasurementitemsbyfairvalue,reasonforconversionamongalllevelsinthecurrentperiodandpoliciesfordeterminingthetimeofconversion
7.Changeofvaluationtechniquesinthecurrentperiodandreasonforchange
8.Conditionoffairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalue
9.OthersXIV.Relatedpartiesandrelatedpartytransactions
1.Parentcompany
| Name | Registrationplace | Businessnature | Registeredcapital | Parentcompany'sshareholdingpercentageintheCompany | Parentcompany'svotingrightspercentageintheCompany |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Shenzhen | Limitedliabilitycompany(whollystate-owned) | RMB33,586,000,000.00 | 57.25% | 57.25% |
ParentcompanyTheultimatecontrolleroftheCompanyistheState-ownedAssetsSupervisionandAdministrationCommissionofShenzhenMunicipalPeople'sGovernment.Otherexplanations:
2.SubsidiariesoftheCompanySeeNoteX.1fordetailsofthesubsidiaryoftheCompany.
3.JointventuresandassociatesSeeNoteX.3fordetailsofimportantjointventuresorassociatesoftheCompany.Jointventuresandassociatesinvolvedintherelated-partytransactionswiththeCompanyintheCurrentPeriod,orleadingtobalanceduetotherelatedpartytransactiontheyhadwiththeCompanyinpreviousperiods:
| Nameofjointventureorassociates | RelationshipwiththeCompany |
Otherexplanations:
4.Otherrelatedparties
| Otherrelatedparties | RelationshipbetweenotherrelatedpartieswiththeCOOEC |
| ShenzhenXinhaiHoldings | TheparentcompanyofXinhaiRongyao,theminorityshareholdersofthesubsidiaryRongyaoRealEstate |
| ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | MinorityshareholdersofthesubsidiaryRongyaoRealEstate |
| Otherrelatedparties | RelationshipbetweenotherrelatedpartieswiththeCOOEC |
| YangzhouTourismDevelopmentPropertyCo.,Ltd. | SubsidiaryYangzhouWuhe'sminorityshareholders |
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | RelatedpartiesoftheminorityshareholdersofthesubsidiaryRongyaoRealEstate |
| ShenzhenTian'anInternationalBuildingPropertyManagementCo.,Ltd. | JointventuresoftheCompany |
| ShenzhenPropertyJifaWarehousingCo.,Ltd. | JointventuresoftheCompany |
| ShenzhenWufangCeramicIndustryCo.,Ltd. | AssociatesoftheCompany |
| ChengduZunxiLandCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| DongguanShenzhenInvestmentHoldingsInvestmentDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| GuangdongJianbangGroup(Huiyang)IndustrialCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| GuorenP&CInsuranceCo.,Ltd. | Subsidiaryoftheparentcompany |
| HebeiShenbaoBusinessManagementCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| KunpengIndustrialSourceInnovationCenter(Shenzhen)Co.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShantouHuafengRealEstateDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShantouHualinRealEstateDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenChuangkeDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenCreditGuaranteeGroupCo.,Ltd. | Subsidiaryoftheparentcompany |
| ShenzhenHigh-techZoneDevelopmentandConstructionCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenPetrelHotelCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenConventionandExhibitionCenterManagementCo.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd. | Subsidiaryoftheparentcompany |
| ShenzhenTalentRecruitmentInternational(Group)Co.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenLightIndustrialProductsImportandExportCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ResearchInstituteofTsinghuaUniversityinShenzhen | Subsidiaryoftheparentcompany |
| ShenzhenTotalLogisticsServiceCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenShenzhen-HongKongScienceandTechnologyInnovationParkOperationandDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenShenzhen-HongKongScienceandTechnologyInnovationCooperationZoneDevelopmentCo.,Ltd. | Subsidiaryoftheparentcompany |
| ShenzhenShenshanSpecialCooperationZoneShenzhenInvestmentHoldingsInvestmentDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenBaoshiRealEstateCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenSecurityServiceCo.,Ltd. | Subsidiaryoftheparentcompany |
| ShenzhenFreeTradeZoneLifeServiceCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenBinjiangIndustrialCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenChenglongRealEstateDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenUrbanConstructionandDevelopment(Group) | Subsidiaryoftheparentcompany |
| Otherrelatedparties | RelationshipbetweenotherrelatedpartieswiththeCOOEC |
| Co.,Ltd. | |
| ShenzhenGrandIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenLegalTrainingCenterCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenFubaoParkOperationCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenHigh-techZoneInvestmentandDevelopmentGroupCo.,Ltd. | Subsidiaryoftheparentcompany |
| ShenzhenGuohuiHotelCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenEnvironmentalTechnologyGroupCo.,Ltd. | Subsidiaryoftheparentcompany |
| ShenzhenEnvironmentalEngineeringScienceandTechnologyCenterCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenGeneralInstituteofArchitecturalDesignandResearchCo.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenJiaotongchangStationConstructionandDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenLeaguerEducationCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenSouthernCertificationCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenShendaCreditEnhancementFinancingGuaranteeCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenShenfangChuanqiRealEstateDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenPropertiesGroupLonggangDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenShenfubao(Group)TianjinIndustrialDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenShenfubao(Group)TianjinInvestmentandDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenShenfubao(Group)Co.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenShenfubaoEastInvestmentandDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenShenyueUnitedInvestmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenWaterPlanning&DesignInstituteCo.,Ltd. | Subsidiaryoftheparentcompany |
| ShenzhenTefaPortServiceCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenSpecialZoneLiteratureMagazineCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenSportsIndustryGroupCo.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenSportsFashionCultureandSportsDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenSportsCenterOperationManagementCo.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenTianjunBiotechnologyDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenWanchengLogisticsCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenWangyuCenterOperationManagementCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenCulturalEnterpriseDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| RenaissanceShenzhenBayHotelBranchofShenzhen | Wholly-ownedsub-subsidiaryoftheparentcompany |
| Otherrelatedparties | RelationshipbetweenotherrelatedpartieswiththeCOOEC |
| ContinentalHotelManagementCo.,Ltd. | |
| CourtyardbyMarriottShenzhenBayBranchofShenzhenContinentalHotelManagementCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenXingyeTransportationCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenEtongDigitalInnovationandDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenEternalAsiaSupplyChainManagementLtd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenTianjunIndustrialCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenTianjunInvestmentDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenNativeProduce&AnimalBy-products&TeaI/ECo.Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenBay(Baoding)InnovationDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenBayBaolongBiologicalInnovationInvestmentandDevelopmentCo.,Ltd. | Subsidiaryofasubsidiary(undertheparentcompany) |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenXiangmihuInternationalExchangeCenterDevelopmentCo.,Ltd. | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenSilverLakeConventionCenter(Hotel)Co.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenInfinovaLimited | Subsidiaryoftheparentcompany |
| ShenzhenInfinovaInformationTechnologyCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenInfinovaSmartParkTechnologyCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| HongKongHOIPANDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenHaitianBuildingPropertyDevelopmentCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ChinaShenzhenForeignTrade(Group)CompanyLimited | Wholly-ownedsubsidiaryoftheparentcompany |
| ShenzhenInvestmentBuildingHotelCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
| ShenzhenUrbanConstructionMingyuanIndustrialCo.,Ltd. | Wholly-ownedsub-subsidiaryoftheparentcompany |
Otherexplanations:
5.Relatedpartytransactions
(1)Relatedpartytransactionsonpurchaseandsalesofgoods,renderingandreceiptofservicesPurchaseofgoods/receiptofservices
Unit:RMB
| Relatedparty | Contentofrelatedpartytransactions | Amountinthecurrentperiod | Approvedtransactionquota | Whetherthetransactionquotaisexceeded | Amountinthepreviousperiod |
| GuorenP&CInsuranceCo.,Ltd. | Insurancepremiums | 2,665,639.27 | 2,647,109.23 | ||
| ShenzhenCreditGuaranteeGroupCo.,Ltd. | Guaranteefee | 56,133.53 |
| Relatedparty | Contentofrelatedpartytransactions | Amountinthecurrentperiod | Approvedtransactionquota | Whetherthetransactionquotaisexceeded | Amountinthepreviousperiod |
| ShenzhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd. | Managementservicefee | 4,454,395.00 | 4,494,794.36 | ||
| ShenzhenLightIndustrialProductsImportandExportCo.,Ltd. | Cateringservices | 13,962.00 | 23,692.08 | ||
| ShenzhenSecurityServiceCo.,Ltd. | Propertyservicefee | 198,000.00 | |||
| ShenzhenLegalTrainingCenterCo.,Ltd. | Trainingexpenses | 119,565.06 | 100,223.49 | ||
| ShenzhenGuohuiHotelCo.,Ltd. | Propertyservicefee | 4,445,618.29 | |||
| ShenzhenGeneralInstituteofArchitecturalDesignandResearchCo.,Ltd. | Projectarchitecturaldesignservices | 2,928,196.42 | 5,315,400.00 | 4,207,808.07 | |
| ShenzhenLeaguerEducationCo.,Ltd. | Trainingexpenses | 360,205.57 | |||
| ShenzhenSouthernCertificationCo.,Ltd. | Certificationfee | 42,452.83 | |||
| ShenzhenShendaCreditEnhancementFinancingGuaranteeCo.,Ltd. | Guaranteefee | 274,886.79 | |||
| ShenzhenShenfubao(Group)Co.,Ltd. | Cateringservices | 611,516.00 | 541,145.00 | ||
| ShenzhenWaterPlanning&DesignInstituteCo.,Ltd. | Consultingservicefees | 56,603.77 | |||
| ShenzhenTefaPortServiceCo.,Ltd. | Propertyservicefee | 260,946.17 | 276,742.05 | ||
| ShenzhenTianjunBiotechnologyDevelopmentCo.,Ltd. | Greenplantmaintenanceservice | 2,592.45 | 75,068.65 | ||
| ShenzhenCulturalEnterpriseDevelopmentCo.,Ltd. | Activityfee | 21,138.94 | 74,964.34 | ||
| ShenzhenEtongDigitalInnovationandDevelopment | Cateringservices | 31,794.69 |
| Relatedparty | Contentofrelatedpartytransactions | Amountinthecurrentperiod | Approvedtransactionquota | Whetherthetransactionquotaisexceeded | Amountinthepreviousperiod |
| Co.,Ltd. | |||||
| ShenzhenEternalAsiaSupplyChainManagementLtd. | Cateringservices | 21,196.46 | |||
| ShenzhenTianjunIndustrialCo.,Ltd. | Compensationforrelocation | 70,296.23 | |||
| ShenzhenTianjunIndustrialCo.,Ltd. | Cateringservices | 9,312.00 | |||
| ShenzhenTianjunInvestmentDevelopmentCo.,Ltd. | Greenplantmaintenanceservice | 183,808.09 | 52,638.20 | ||
| ShenzhenNativeProduce&AnimalBy-products&TeaI/ECo.Ltd. | Activityfee | 59,325.00 | |||
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Managementservicefee | 65,019,674.57 | 61,201,000.00 | 62,382,807.01 | |
| ShenzhenInfinovaInformationTechnologyCo.,Ltd. | Intelligentprojectfunds | 11,100.00 | |||
| ChinaShenzhenForeignTrade(Group)CompanyLimited | Managementservicefee | 101,850.10 |
Salesofgoods/renderingofservices
Unit:RMB
| Relatedparty | Contentofrelatedpartytransactions | Amountinthecurrentperiod | Amountinthepreviousperiod |
| ChengduZunxiLandCo.,Ltd. | Propertyservicefee | 1,865,053.26 | 3,480,160.55 |
| DongguanShenzhenInvestmentHoldingsInvestmentDevelopmentCo.,Ltd. | Propertyservicefee | 3,015,849.04 | 3,098,470.59 |
| GuangdongJianbangGroup(Huiyang)IndustrialCo.,Ltd. | Propertyservicefee | 392,403.00 | 295,724.00 |
| GuorenP&CInsuranceCo.,Ltd. | Propertyservicefee | 1,292,668.37 | 325,538.86 |
| HebeiShenbaoBusinessManagementCo.,Ltd. | Propertyservicefee | 1,657,323.45 | |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | Projectfunds | 2,764,543.00 | 44,233,142.45 |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | Propertyservicefee | 19,474,052.06 | 11,892,865.89 |
| KunpengIndustrialSourceInnovationCenter | Propertyservicefee | 728,119.78 | 1,339,304.96 |
| Relatedparty | Contentofrelatedpartytransactions | Amountinthecurrentperiod | Amountinthepreviousperiod |
| (Shenzhen)Co.,Ltd. | |||
| ShantouHuafengRealEstateDevelopmentCo.,Ltd. | Propertyservicefee | 2,279,947.53 | 2,249,598.90 |
| ShantouHualinRealEstateDevelopmentCo.,Ltd. | Propertyservicefee | 18,794.39 | 35,320.76 |
| SubsidiariesofShenzhenInvestmentHoldings | Cateringservices | 49,320.80 | 88,079.06 |
| ShenzhenChuangkeDevelopmentCo.,Ltd. | Propertyservicefee | 7,849,483.51 | 5,317,675.30 |
| ShenzhenCreditGuaranteeGroupCo.,Ltd. | Propertyservicefee | 4,237,119.44 | 4,217,529.68 |
| ShenzhenHigh-techZoneDevelopmentandConstructionCo.,Ltd. | Propertyservicefee | 2,606,207.12 | 2,521,098.97 |
| ShenzhenPetrelHotelCo.,Ltd. | Propertyservicefee | 453,396.24 | |
| ShenzhenConventionandExhibitionCenterManagementCo.,Ltd. | Propertyservicefee | 13,330,166.12 | 12,406,466.64 |
| ShenzhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd. | Projectfunds | 133,675.95 | |
| ShenzhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd. | Propertyservicefee | 7,196,064.40 | 3,717,334.17 |
| ShenzhenTalentRecruitmentInternational(Group)Co.,Ltd. | Propertyservicefee | 333,240.97 | 443,957.91 |
| ResearchInstituteofTsinghuaUniversityinShenzhen | Propertyservicefee | 2,381,629.15 | 2,217,409.49 |
| ShenzhenTotalLogisticsServiceCo.,Ltd. | Propertyservicefee | 2,923,946.63 | 2,936,775.96 |
| ShenzhenShenzhen-HongKongScienceandTechnologyInnovationParkOperationandDevelopmentCo.,Ltd. | Propertyservicefee | 20,981,477.63 | 13,318,956.64 |
| ShenzhenShenzhen-HongKongScienceandTechnologyInnovationCooperationZoneDevelopmentCo.,Ltd. | Projectfunds | 3,035,991.92 | |
| ShenzhenShenzhen-HongKongScienceandTechnologyInnovationCooperationZoneDevelopmentCo.,Ltd. | Propertyservicefee | 10,070,896.13 | 2,710,293.10 |
| ShenzhenShenshanSpecialCooperationZoneShenzhenInvestmentHoldingsInvestmentDevelopment | Propertyservicefee | 2,287,117.51 | 2,099,868.10 |
| Relatedparty | Contentofrelatedpartytransactions | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Co.,Ltd. | |||
| ShenzhenBaoshiRealEstateCo.,Ltd. | Propertyservicefee | 6,840,220.54 | 3,612,660.76 |
| ShenzhenChenglongRealEstateDevelopmentCo.,Ltd. | Propertyservicefee | 1,629,711.29 | 1,734,921.21 |
| ShenzhenUrbanConstructionandDevelopment(Group)Co.,Ltd. | Propertyservicefee | 205,415.09 | 273,886.79 |
| ShenzhenGrandIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | Projectfunds | 1,269,635.80 | -206,798.79 |
| ShenzhenGrandIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | Propertyservicefee | 1,628,878.28 | 664,132.17 |
| ShenzhenFubaoParkOperationCo.,Ltd. | Projectfunds | 69,473.85 | 184,939.45 |
| ShenzhenFubaoParkOperationCo.,Ltd. | Propertyservicefee | 18,301.58 | |
| ShenzhenHigh-techZoneInvestmentandDevelopmentGroupCo.,Ltd. | Propertyservicefee | 18,851.92 | 125,538.20 |
| ShenzhenEnvironmentalTechnologyGroupCo.,Ltd. | Supervisionservicefee | 141,509.43 | |
| ShenzhenEnvironmentalTechnologyGroupCo.,Ltd. | Propertyservicefee | 5,141,483.43 | 5,583,897.63 |
| ShenzhenEnvironmentalEngineeringScienceandTechnologyCenterCo.,Ltd. | Propertyservicefee | 566,875.99 | |
| ShenzhenSouthernCertificationCo.,Ltd. | Propertyservicefee | 74,213.21 | 74,269.81 |
| ShenzhenShenfangChuanqiRealEstateDevelopmentCo.,Ltd. | Commercialservicefee | 750,000.00 | |
| ShenzhenShenfangChuanqiRealEstateDevelopmentCo.,Ltd. | Propertyservicefee | 1,572,089.22 | 266,161.65 |
| ShenzhenPropertiesGroupLonggangDevelopmentCo.,Ltd. | Propertyservicefee | 366,311.14 | 382,009.37 |
| ShenzhenShenfubao(Group)TianjinIndustrialDevelopmentCo.,Ltd. | Propertyservicefee | 1,334,719.77 | 818,633.95 |
| ShenzhenShenfubao(Group)TianjinInvestmentandDevelopmentCo.,Ltd. | Propertyservicefee | 7,469,518.65 | 7,403,142.51 |
| ShenzhenShenfubao | Projectfunds | 121,800.16 |
| Relatedparty | Contentofrelatedpartytransactions | Amountinthecurrentperiod | Amountinthepreviousperiod |
| (Group)Co.,Ltd. | |||
| ShenzhenShenfubao(Group)Co.,Ltd. | Propertyservicefee | 2,953,668.31 | 4,458,923.38 |
| ShenzhenShenfubaoEastInvestmentandDevelopmentCo.,Ltd. | Projectfunds | 23,477.06 | |
| ShenzhenShenfubaoEastInvestmentandDevelopmentCo.,Ltd. | Propertyservicefee | 767,227.46 | 605,151.13 |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | Propertyservicefee | 26,490.57 | 52,981.13 |
| ShenzhenShenyueUnitedInvestmentCo.,Ltd. | Propertyservicefee | 4,785,796.84 | 3,656,843.68 |
| ShenzhenSpecialZoneLiteratureMagazineCo.,Ltd. | Propertyservicefee | 34,256.64 | 51,384.96 |
| ShenzhenSportsIndustryGroupCo.,Ltd. | Projectfunds | 3,696,271.96 | |
| ShenzhenSportsIndustryGroupCo.,Ltd. | Propertyservicefee | 3,247,533.97 | |
| ShenzhenSportsCenterOperationManagementCo.,Ltd. | Propertyservicefee | 28,178,916.27 | 5,279,580.87 |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Projectfunds | -12,137.73 | 3,667,431.09 |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Supervisionservicefee | 155,660.38 | |
| ShenzhenInvestmentHoldingsCo.,Ltd. | Propertyservicefee | 7,911,174.24 | 7,242,745.72 |
| ShenzhenWanchengLogisticsCo.,Ltd. | Projectfunds | 451,416.98 | |
| ShenzhenCulturalEnterpriseDevelopmentCo.,Ltd. | Propertyservicefee | 323,718.87 | 372,727.92 |
| RenaissanceShenzhenBayHotelBranchofShenzhenContinentalHotelManagementCo.,Ltd. | Propertyservicefee | 283,018.87 | 283,018.87 |
| CourtyardbyMarriottShenzhenBayBranchofShenzhenContinentalHotelManagementCo.,Ltd. | Propertyservicefee | 188,679.28 | 188,679.28 |
| ShenzhenXingyeTransportationCo.,Ltd. | Propertyservicefee | 33,027.52 | 27,522.94 |
| ShenzhenBay(Baoding)InnovationDevelopmentCo.,Ltd. | Propertyservicefee | 804,956.22 | 658,180.89 |
| ShenzhenBayBaolongBiologicalInnovationInvestmentandDevelopmentCo.,Ltd. | Propertyservicefee | 2,252,056.95 | |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Propertyservicefee | 76,239,227.65 | 77,800,192.88 |
| Relatedparty | Contentofrelatedpartytransactions | Amountinthecurrentperiod | Amountinthepreviousperiod |
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | Propertyservicefee | 1,860,384.10 | 1,996,166.98 |
| ShenzhenXiangmihuInternationalExchangeCenterDevelopmentCo.,Ltd. | Propertyservicefee | 3,029,758.14 | 2,408,563.82 |
| ShenzhenSilverLakeConventionCenter(Hotel)Co.,Ltd. | Projectfunds | 233,119.27 | 337,614.68 |
| ShenzhenSilverLakeConventionCenter(Hotel)Co.,Ltd. | Supervisionservicefee | 43,867.92 | |
| ShenzhenInfinovaLimited | Propertyservicefee | 88,556.50 | |
| ShenzhenInfinovaSmartParkTechnologyCo.,Ltd. | Consultingservicefees | 101,581.14 | |
| ChinaShenzhenForeignTrade(Group)CompanyLimited | Propertyservicefee | 3,261,063.09 | 3,053,234.14 |
| ShenzhenHaitianBuildingPropertyDevelopmentCo.,Ltd. | Propertyservicefee | 148,563.88 |
Purchaseorsaleofgoods,andrenderingorreceiptoflaborservices
(2)Managementoncommission/contractandcommissionedmanagement/contracting-outInformationonthetrusteeshipmanagementandcontractingbytheCOOEC:
Unit:RMB
| Nameofentrustingparty/contracting-outparty | Nameofentrustedparty/contractor | Typeofentrusted/contractedassets | Startdateofentrustment/contracting | Terminationdateofentrustment/contracting | Pricingbasisofcustodyincome/contractingincome | Trustincome/contractingincomerecognizedinthecurrentperiod |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | ShenzhenProperties&ResourcesDevelopment(Group)Ltd. | Investmentproperties | November6,2019 | December31,2026 | Marketpricing | 66,718,852.02 |
| ShenzhenShenfubao(Group)Co.,Ltd. | ShenzhenFreeTradeZoneSecurityServiceCo.,Ltd. | Realestate | January01,2025 | December31,2025 | Marketpricing | 766,857.32 |
| ShenzhenShenfubao(Group)Co.,Ltd. | ShenzhenShenfubaoMunicipalServiceCo.,Ltd. | Realestate | January01,2025 | December31,2025 | Marketpricing | 896,553.36 |
Custody/contractingofrelatedparties
Informationontheentrustmentmanagement/contractingoftheCompany
Unit:RMB
| Nameofentrustingparty/contracting-outparty | Nameofentrustedparty/contractor | Typeofentrusted/contracting-outassets | Startingdateofentrustment/contracting-out | Terminationdateofentrustment/contracting-out | Pricingbasisofcustodyfee/contracting-outfee | Custodyfees/contracting-outfeesrecognizedinthecurrentperiod |
Informationontherelated-partymanagement/contracting
(3)RelatedpartyleasesTheCOOECactedasthelessor:
Unit:RMB
| Lessee | Typeofleasedasset | Leaseincomerecognizedinthisperiod | Leaseincomerecognizedinpreviousperiod |
TheCOOECactedaslessee:
Unit:RMB
| Lessor | Typeofleasedasset | Rentalcostsforshort-termleasesandlow-valueassetleasesforsimplifiedprocessing(ifapplicable) | Variableleasepaymentsnotincludedinthemeasurementofleaseliabilities(ifapplicable) | Paidrents | Interestexpenseonleaseliabilitiesassumed | Increaseinright-of-useassets | |||||
| Amountinthecurrentperiod | Amountinthepreviousperiod | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountinthecurrentperiod | Amountinthepreviousperiod | ||
| ShenzhenInvestmentBuildingHotelCo.,Ltd. | Investmentproperties | 887,194.08 | 844,905.00 | 69,473.34 | 33,604.31 | ||||||
| ShenzhenHigh-techZoneDevelopmentandConstructionCo.,Ltd. | Investmentproperties | 110,171.40 | 57,415.65 | 49,392.00 | -422.03 | ||||||
| ShenzhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd. | Investmentproperties | 239,714.28 | 237,999.96 | 660,000.00 | 660,000.00 | 21,736.67 | 51,688.66 | ||||
| ShenzhenPetrelHotelCo.,Ltd. | Investmentproperties | 38,243.62 | 52,888.00 | 13,200.00 | 11,141.44 | 3,131.51 | 235,308.17 | ||||
| ShenzhenShenfubao(Group)Co.,Ltd. | Investmentproperties | 179,010.00 | 417,328.20 | 470,269.80 | 20,159.19 | 41,958.61 | |||||
| ShenzhenInvestmentHoldings | Investmentproperties | 247,497.25 | 2,791,192.11 | 2,739,416.18 | 261,658.13 | 66,246.71 | 7,577,837.86 | ||||
| Lessor | Typeofleasedasset | Rentalcostsforshort-termleasesandlow-valueassetleasesforsimplifiedprocessing(ifapplicable) | Variableleasepaymentsnotincludedinthemeasurementofleaseliabilities(ifapplicable) | Paidrents | Interestexpenseonleaseliabilitiesassumed | Increaseinright-of-useassets | |||||
| Amountinthecurrentperiod | Amountinthepreviousperiod | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountinthecurrentperiod | Amountinthepreviousperiod | ||
| Co.,Ltd. | |||||||||||
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | Investmentproperties | 1,119,654.36 | |||||||||
| ShenzhenBinjiangIndustrialCo.,Ltd. | Investmentproperties | 216,184.69 | 303,785.70 | ||||||||
| HongKongHOIPANDevelopmentCo.,Ltd. | Investmentproperties | 192,522.96 | 146,234.62 | ||||||||
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | Investmentproperties | 4,320.00 | |||||||||
Related-partyleases
(4)RelatedpartyguaranteesTheCompanyastheguarantor
Unit:RMB
| Thesecuredparty | Amountguaranteed | Startdateofguarantee | Maturitydateofguarantee | Whethertheguaranteehasbeenfulfilled |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | 3,491,331,743.56 | November27,2019 | November20,2026 | No |
| YangzhouWuheRealEstateCo.,Ltd. | 255,747,487.12 | January19,2024 | January18,2029 | No |
| ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | 680,000,000.00 | August12,2025 | August12,2028 | No |
TheCompanyastheguaranteedparty
Unit:RMB
| Guarantee | Amountguaranteed | Startdateofguarantee | Maturitydateofguarantee | Whethertheguaranteehasbeenfulfilled |
| ShenzhenShendaCreditEnhancementFinancingGuarantee | 16,750,000.00 | March29,2022 | March28,2025 | Yes |
| Co.,Ltd. | ||||
| ShenzhenShendaCreditEnhancementFinancingGuaranteeCo.,Ltd. | 36,850,000.00 | March29,2022 | March28,2026 | No |
| ShenzhenShendaCreditEnhancementFinancingGuaranteeCo.,Ltd. | 13,400,000.00 | March29,2022 | March28,2027 | No |
| ShenzhenCreditGuaranteeGroupCo.,Ltd. | 2,732,954.09 | January15,2024 | January15,2025 | Yes |
| ShenzhenCreditGuaranteeGroupCo.,Ltd. | 1,478,768.65 | March19,2024 | March19,2025 | Yes |
| GuorenP&CInsuranceCo.,Ltd. | 440,000,000.00 | May30,2025 | May29,2027 | No |
| GuorenP&CInsuranceCo.,Ltd. | 84,682,000.00 | August27,2025 | August26,2028 | No |
| GuorenP&CInsuranceCo.,Ltd. | 73,027,582.04 | January10,2024 | No | |
| GuorenP&CInsuranceCo.,Ltd. | 89,983,901.50 | May22,2023 | No |
Notestorelatedpartyguarantee
(5)Informationoninter-banklendingofcapitalofrelatedparties
Unit:RMB
| Relatedparty | Amountborrowed | Startdate | Maturitydate | Notes |
| Borrowedfrom | ||||
| Lending | ||||
(6)Assettransferanddebtrestructuringofrelatedparties
Unit:RMB
| Relatedparty | Contentofrelatedpartytransactions | Amountinthecurrentperiod | Amountinthepreviousperiod |
(7)Remunerationofkeyofficers
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Remunerationofkeyofficers | 6,762,600.04 | 10,738,322.13 |
(8)Otherrelatedpartytransactions
6.Accountsreceivableandpayableofrelatedparties
(1)Receivables
Unit:RMB
| Project | Relatedparty | Endingbalance | Beginningbalance | ||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
| Accountsreceivable | ChengduZunxiLandCo.,Ltd. | 152,296.23 | 4,568.89 | ||
| DongguanShenzhenInvestmentHoldingsInvestmentDevelopmentCo.,Ltd. | 1,576,800.00 | 47,304.00 | 270,000.00 | 8,100.00 | |
| GuorenP&CInsuranceCo.,Ltd. | 1,182,500.00 | 35,475.00 | |||
| HebeiShenbaoBusinessManagementCo.,Ltd. | 1,683,401.57 | 50,502.05 | |||
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | 36,368,442.21 | 4,830,885.75 | 41,683,941.80 | 1,916,102.52 | |
| KunpengIndustrialSourceInnovationCenter(Shenzhen)Co.,Ltd. | 182,417.35 | 5,472.52 | |||
| ShantouHuafengRealEstateDevelopmentCo.,Ltd. | 177,667.23 | 5,330.02 | |||
| ShenzhenChuangkeDevelopmentCo.,Ltd. | 3,468,849.28 | 104,065.48 | 6,075,155.48 | 222,749.53 | |
| ShenzhenCreditGuaranteeGroupCo.,Ltd. | 157,200.00 | 4,716.00 | |||
| ShenzhenHigh-techZoneDevelopmentandConstructionCo.,Ltd. | 854,905.02 | 25,647.15 | 2,837,150.55 | 85,114.52 | |
| ShenzhenConventionandExhibitionCenterManagementCo.,Ltd. | 923,483.23 | 27,704.50 | 936,380.65 | 28,091.42 | |
| ShenzhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd. | 2,974,946.80 | 89,248.40 | 5,548,078.33 | 347,553.20 | |
| ShenzhenTalentRecruitment | 46,422.34 | 1,392.67 | |||
| Project | Relatedparty | Endingbalance | Beginningbalance | ||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
| International(Group)Co.,Ltd. | |||||
| ResearchInstituteofTsinghuaUniversityinShenzhen | 62,293.13 | 1,868.79 | 73,234.71 | 2,197.04 | |
| ShenzhenTotalLogisticsServiceCo.,Ltd. | 230,181.30 | 6,905.44 | 466,227.00 | 13,986.81 | |
| ShenzhenShenzhen-HongKongScienceandTechnologyInnovationParkOperationandDevelopmentCo.,Ltd. | 10,958,996.50 | 328,769.90 | 5,572,997.25 | 167,189.92 | |
| ShenzhenShenzhen-HongKongScienceandTechnologyInnovationCooperationZoneDevelopmentCo.,Ltd. | 5,519,350.44 | 165,580.51 | 117,000.00 | 3,510.00 | |
| ShenzhenShenshanSpecialCooperationZoneShenzhenInvestmentHoldingsInvestmentDevelopmentCo.,Ltd. | 607,505.15 | 18,228.15 | 202,435.05 | 6,076.05 | |
| ShenzhenUrbanConstructionandDevelopment(Group)Co.,Ltd. | 217,740.00 | 6,532.20 | |||
| ShenzhenGrandIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | 703,768.73 | 71,553.06 | 266,132.23 | 58,423.97 | |
| ShenzhenFubaoParkOperationCo.,Ltd. | 5,548.18 | 166.45 | 42,352.90 | 1,270.59 | |
| ShenzhenHigh-techZoneInvestmentandDevelopmentGroupCo.,Ltd. | 74,553.96 | 2,236.62 | |||
| ShenzhenHaitianBuildingPropertyDevelopmentCo., | 1,600.00 | 48.00 | |||
| Project | Relatedparty | Endingbalance | Beginningbalance | ||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
| Ltd. | |||||
| ShenzhenEnvironmentalTechnologyGroupCo.,Ltd. | 2,696,526.36 | 80,895.79 | 2,837,617.82 | 86,245.77 | |
| ShenzhenJiaotongchangStationConstructionandDevelopmentCo.,Ltd. | 500.00 | 15.00 | |||
| ShenzhenShenfubao(Group)TianjinIndustrialDevelopmentCo.,Ltd. | 1,132,931.65 | 175,625.49 | 1,581,956.05 | 175,339.45 | |
| ShenzhenShenfubao(Group)TianjinInvestmentandDevelopmentCo.,Ltd. | 4,481,652.41 | 214,190.20 | 2,588,645.10 | 150,772.57 | |
| ShenzhenShenfubao(Group)Co.,Ltd. | 2,508,161.05 | 96,587.42 | 1,671,102.46 | 52,471.28 | |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | 2,173,473.41 | 65,204.20 | 8,591,322.98 | 424,230.21 | |
| ShenzhenShenyueUnitedInvestmentCo.,Ltd. | 2,187,623.78 | 117,559.21 | 3,450,150.13 | 123,326.68 | |
| ShenzhenSportsIndustryGroupCo.,Ltd. | 52,490.38 | 1,574.71 | 4,402,968.12 | 132,089.04 | |
| ShenzhenSportsFashionCultureandSportsDevelopmentCo.,Ltd. | 3,777.44 | 113.32 | 2,429.40 | 72.88 | |
| ShenzhenSportsCenterOperationManagementCo.,Ltd. | 13,143,133.25 | 394,294.00 | |||
| ShenzhenInvestmentHoldingsCo.,Ltd. | 4,427,162.25 | 205,487.27 | 5,588,052.61 | 225,329.98 | |
| ShenzhenWanchengLogisticsCo.,Ltd. | 171,749.77 | 5,152.49 | |||
| ShenzhenCulturalEnterpriseDevelopmentCo., | 360,277.84 | 10,808.34 | |||
| Project | Relatedparty | Endingbalance | Beginningbalance | ||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
| Ltd. | |||||
| RenaissanceShenzhenBayHotelBranchofShenzhenContinentalHotelManagementCo.,Ltd. | 1,672,307.44 | 50,169.22 | |||
| CourtyardbyMarriottShenzhenBayBranchofShenzhenContinentalHotelManagementCo.,Ltd. | 402,226.64 | 12,066.80 | |||
| ShenzhenBay(Baoding)InnovationDevelopmentCo.,Ltd. | 148,995.79 | 4,469.87 | 182,228.13 | 5,466.84 | |
| ShenzhenBayBaolongBiologicalInnovationInvestmentandDevelopmentCo.,Ltd. | 1,105,058.18 | 33,151.75 | |||
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 48,340,136.25 | 1,450,204.09 | 49,188,098.91 | 1,508,080.64 | |
| ShenzhenXiangmihuInternationalExchangeCenterDevelopmentCo.,Ltd. | 461,923.28 | 13,857.70 | |||
| ShenzhenSilverLakeConventionCenter(Hotel)Co.,Ltd. | 46,500.00 | 1,395.00 | |||
| ShenzhenInfinovaSmartParkTechnologyCo.,Ltd. | 913,838.00 | 90,555.14 | 913,838.00 | 90,555.14 | |
| ChinaShenzhenForeignTrade(Group)CompanyLimited | 89,446.74 | 9,298.41 | 24,500.00 | 2,450.00 | |
| Total | 153,499,802.93 | 8,832,348.24 | 146,264,953.29 | 5,871,324.78 | |
| Contractassets | HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | 393,583.65 | 215,129.91 | ||
| ShenzhenGrandIndustrialZone | 118,043.22 | ||||
| Project | Relatedparty | Endingbalance | Beginningbalance | ||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
| (ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | |||||
| ShenzhenInvestmentHoldingsCo.,Ltd. | 88,223.00 | 88,223.00 | |||
| ShenzhenXiangmihuInternationalExchangeCenterDevelopmentCo.,Ltd. | 14,806.94 | ||||
| ShenzhenUrbanConstructionMingyuanIndustrialCo.,Ltd. | 18,450.00 | ||||
| Total | 481,806.65 | 454,653.07 | |||
| Otherreceivables | GuangdongJianbangGroup(Huiyang)IndustrialCo.,Ltd. | 48,908.08 | 24,454.04 | ||
| ShenzhenHigh-techZoneDevelopmentandConstructionCo.,Ltd. | 51,931.46 | 1,557.94 | 35,605.73 | 1,068.17 | |
| ShenzhenConventionandExhibitionCenterManagementCo.,Ltd. | 1,000.00 | 30.00 | 1,000.00 | 30.00 | |
| ShenzhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd. | 100,000.00 | 80,000.00 | 100,000.00 | 30,000.00 | |
| ShenzhenShenzhen-HongKongScienceandTechnologyInnovationParkOperationandDevelopmentCo.,Ltd. | 20,000.00 | 600.00 | |||
| ShenzhenBinjiangIndustrialCo.,Ltd. | 19,660.00 | 589.80 | 49,397.40 | 1,481.92 | |
| ShenzhenGrandIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | 105,518.00 | 30,165.54 | 102,583.54 | 10,258.35 | |
| Project | Relatedparty | Endingbalance | Beginningbalance | ||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | ||
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | 10,720,575.27 | 6,623,517.62 | 10,720,575.27 | 6,623,517.62 | |
| ShenzhenShenfubao(Group)Co.,Ltd. | 201,264.60 | 27,979.38 | 81,264.60 | 8,126.46 | |
| ShenzhenShenfubaoEastInvestmentandDevelopmentCo.,Ltd. | 350,768.00 | 105,023.04 | 350,000.00 | 35,000.00 | |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | 81,233.00 | 81,233.00 | 81,233.00 | 81,233.00 | |
| ShenzhenInvestmentHoldingsCo.,Ltd. | 685,740.90 | 397,444.67 | 685,740.90 | 278,254.03 | |
| ShenzhenXinhaiHoldings | 201,499,990.18 | 124,493,201.20 | 201,499,990.18 | 124,493,201.20 | |
| ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd. | 375,068,984.55 | 231,729,731.18 | 375,068,984.55 | 231,729,731.18 | |
| ShenzhenTianjunIndustrialCo.,Ltd. | 10,000,000.00 | 10,000,000.00 | |||
| ShenzhenBayBaolongBiologicalInnovationInvestmentandDevelopmentCo.,Ltd. | 3,147,876.19 | 94,436.29 | |||
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 1,207,691.82 | 120,769.18 | 2,462,441.23 | 73,873.24 | |
| ShenzhenWufangCeramicIndustryCo.,Ltd. | 1,747,264.25 | 1,747,264.25 | 1,747,264.25 | 1,747,264.25 | |
| HongKongHOIPANDevelopmentCo.,Ltd. | 48,130.74 | 1,443.92 | 48,130.74 | 1,443.92 | |
| Total | 605,106,537.04 | 365,559,441.05 | 603,034,211.39 | 365,114,483.34 | |
(2)Payables
Unit:RMB
| Project | Relatedparty | Endingbookbalance | Beginningbookbalance |
| Accountspayable | GuorenP&CInsuranceCo.,Ltd. | 200,000.00 |
| Project | Relatedparty | Endingbookbalance | Beginningbookbalance |
| ShenzhenSecurityServiceCo.,Ltd. | 39,600.00 | ||
| ShenzhenGeneralInstituteofArchitecturalDesignandResearchCo.,Ltd. | 807,748.10 | 1,316,929.34 | |
| ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd. | 7,126,060.00 | 7,126,060.00 | |
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | 1,776,960.53 | 1,694,981.99 | |
| ShenzhenTefaPortServiceCo.,Ltd. | 846,432.00 | 705,360.00 | |
| ShenzhenTianjunInvestmentDevelopmentCo.,Ltd. | 26,905.51 | ||
| Total | 10,623,706.14 | 11,043,331.33 | |
| Otherpayables | GuorenP&CInsuranceCo.,Ltd. | 17,210.85 | |
| HebeiShenbaoInvestmentDevelopmentCo.,Ltd. | 21,328.50 | ||
| ShenzhenCreditGuaranteeGroupCo.,Ltd. | 1,494,841.29 | 1,494,841.29 | |
| ShenzhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd. | 588,075.00 | ||
| ShenzhenTalentRecruitmentInternational(Group)Co.,Ltd. | 147,132.37 | 147,132.37 | |
| ShenzhenFreeTradeZoneLifeServiceCo.,Ltd. | 4,850.00 | 4,850.00 | |
| ShenzhenUrbanConstructionandDevelopment(Group)Co.,Ltd. | 152,227.00 | 152,227.00 | |
| ShenzhenGrandIndustrialZone(ShenzhenExportProcessingZone)DevelopmentManagementGroupCo.,Ltd. | 133,078.00 | 86,247.00 | |
| ShenzhenGuohuiHotelCo.,Ltd. | 603,735.76 | ||
| ShenzhenEnvironmentalEngineeringScienceandTechnologyCenterCo.,Ltd. | 89,974.40 | ||
| ShenzhenSouthernCertificationCo.,Ltd. | 34,002.15 | 34,002.15 | |
| ShenzhenPropertiesGroupLonggangDevelopmentCo.,Ltd. | 479,960.00 | ||
| ShenzhenShenfubao(Group)Co.,Ltd. | 2,719,571.38 | 3,178,036.23 | |
| ShenzhenShenfubaoEastInvestmentand | 175,092.68 | 369,211.02 |
| Project | Relatedparty | Endingbookbalance | Beginningbookbalance |
| DevelopmentCo.,Ltd. | |||
| ShenzhenShentouPropertyDevelopmentCo.,Ltd. | 19,046,189.10 | 18,106,994.63 | |
| ShenzhenSportsFashionCultureandSportsDevelopmentCo.,Ltd. | 60,000.00 | ||
| ShenzhenWangyuCenterOperationManagementCo.,Ltd. | 2,000.00 | ||
| ShenzhenCulturalEnterpriseDevelopmentCo.,Ltd. | 727,680.00 | 743,680.00 | |
| ShenzhenTian'anInternationalBuildingPropertyManagementCo.,Ltd. | 5,214,345.90 | 5,214,345.90 | |
| ShenzhenBayTechnologyDevelopmentCo.,Ltd. | 46,357,249.56 | 51,990,858.29 | |
| ShenzhenBayAreaUrbanConstructionandDevelopmentCo.,Ltd. | 360,752.18 | 360,752.18 | |
| ShenzhenPropertyJifaWarehousingCo.,Ltd. | 202,296,665.14 | 202,296,665.14 | |
| YangzhouTourismDevelopmentPropertyCo.,Ltd. | 372,171,012.79 | 345,929,298.79 | |
| Total | 652,896,974.05 | 630,109,141.99 |
7.Commitmentsfromrelatedparties
8.OthersXV.Share-basedpayments
1.Overviewofshare-basedpayments
□Applicable?Notapplicable
2.Share-basedpaymentssettledbyequity
□Applicable?Notapplicable
3.Share-basedpaymentssettledbycash
□Applicable?Notapplicable
4.Currentsharepaymentexpenses
□Applicable?Notapplicable
5.Modificationandterminationofshare-basedpayment
6.OthersXVI.Commitmentsandcontingencies
1.SignificantcommitmentsSignificantcommitmentsonthebalancesheetdateLarge-valuecontractsthatarebeingperformedortobeperformed
| Item | Amountinthisperiod/RMB | Amountofthesameperiodoflastyear/RMB |
| Large-valuecontractsthathavebeensignedbutnotrecognizedinthefinancialstatements | 2,333,183,375.22 | 2,399,978,869.29 |
2.Contingencies
(1)Significantcontingenciesonthebalancesheetdate
(1)LitigationmattersconcerningthetransferofJiabinBuildingIn1993,theCompanysignedtheContractforTransferofDevelopmentRightsandInterestsofJiabinBuildingwithShenzhenJiyongPropertyDevelopmentCo.,Ltd.(currentname,hereinafterreferredtoas"JiyongCompany").Duetotheineffectiveexecutionofthecontract,theCompanysubsequentlyfiledaseriesoflawsuitsagainstthepartiesinvolvedintheproject,buttheoutcomeofthelawsuitsfailedtoenabletheCompanytoobtainthebenefitsclaimed.Therefore,theCompanyhasmadeprovisionforbaddebtsinthefullamountofRMB93.81millionforaccountsreceivablefromjiyongCompanyforthetransferofJiabinBuilding.OnOctober31,2018,theShenzhenIntermediatePeople'sCourtmadeaciviljudgment,rulingthattheCompany'sapplicationforthebankruptcyofJiyongCompanywasnotaccepted.TheCompanyappealedagainsttheruling.OnApril29,2019,theGuangdongProvincialHigherPeople'sCourtruledtorejecttheCompany'sappealandupholdtheoriginalruling.Attheissuancedateofthereport,thereisnonewdevelopmentinthecase.
(2)LitigationcaseconcerningShenzhenBasepointIntelligenceCo.,Ltd.OnAugust20,2017,ShenzhenFacilityManagementCommunityCo.,Ltd.(hereinafterreferredtoasFMC)signedtheSoftwareServiceContractforSmartFacilityManagementPlatformofChinaMerchantsPropertywithChinaMerchantsGroup.Meanwhile,FMCintendedtopurchaseaRMB3millionfacilitymanagementsystem(covering31items)forthisprojectfromShenzhenBasepointIntelligenceCo.,Ltd.(hereinafterreferredtoas"Basepoint").Intheprojectdelivery,only11itemsdeliveredbyBasepointpassedtheacceptanceinspection,leavingthefulldeliveryunfinished.Therefore,FMCfailedtoreachaconsensusonpaymentwithBasepoint.In2021,BasepointsuedFMCandfrozeFMC'sfundsofRMB3million.ThejudgmentofthefirstinstancedatedAugust10,2022ruledthatFMCshallcompensateRMB3milliontoBasepoint.FMC,dissatisfiedwiththefirst-instancejudgment,filedanappeal.Thesecond-instancehearingwasheldonAugust11,2023.OnApril19,2024,theShenzhenIntermediatePeople'sCourtissuedtheRulingLetter(2023)Y03MZNo.3914,whichrevokedtheJudgmentLetter(2021)Y0304MCNo.55151issuedbythePeople'sCourtofFutianDistrict,Shenzhen,andremandedthecaseforretrial.Thecaseiscurrentlyintheretrialstage.
(3)ArbitrationcaseconcerningprivatelendingdisputeinvolvingShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.AsShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.(hereinafterreferredtoas"XinhaiRongyao")andShenzhenXinhaiHoldingsCo.,Ltd.(hereinafterreferredtoas"XinhaiHoldings")failedtorepaytheloanprincipalandinteresttoShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.(hereinafterreferredtoas"RongyaoRealEstate")onschedule,RongyaoRealEstatehasappliedto
theShenzhenCourtofInternationalArbitrationforarbitration,requestingarulingthattherespondents,XinhaiRongyaoandXinhaiHoldings,repaytoRongyaoRealEstatetheentireloanprincipalofRMB671,913,800andtheinterest(atanannualinterestrateof11%,calculatedontheprincipalofRMB671,913,800fromAugust4,2022untilthedateoffullrepayment;tentativelycalculatedatRMB49,068,400);arulingthatShenzhenXinhaiInvestmentDevelopmentCo.,Ltd.(hereinafterreferredtoas"XinhaiInvestment"),ShenzhenChengjianRealEstateManagementCo.,Ltd.(hereinafterreferredtoas"ChengjianRealEstate"),ShenzhenLianghongIndustryCo.,Ltd.(hereinafterreferredtoas"LianghongIndustry"),andShenzhenShenguotouTianchengInvestmentCo.,Ltd.(hereinafterreferredtoas"TianchengInvestment")shallbearjointandseveralliabilityfortheobligationsandresponsibilitiesofXinhaiRongyaoandXinhaiHoldingsunderthefirstarbitrationclaim;itwasruledthatalltherespondentsshallbeartheattorneyfeesofRMB1.2millionpaidbyRongyaoRealEstate,andalltherespondentsshallbearthearbitrationcostsandpropertypreservationexpensesofthiscase.TheprovisionaltotalamountoftheabovestandsatRMB722.1822million.OnAugust7,2023,XinhaifiledalawsuitwiththeShenzhenIntermediatePeople'sCourttoconfirmthevalidityofthearbitrationagreement.Afterhearingthecase,thecourtrejectedtheirapplication.ThecasewasheardattheShenzhenCourtofInternationalArbitrationonAugust30,2024.OnJune26,2025,RongyaoRealEstatereceivedtheNoticeofPropertyPreservationResultsfromthecourt,indicatingthatRongyaoRealEstatehadsuccessfullypreservedanadditionalbatchoftherespondents'property.OnSeptember1,2025,theShenzhenCourtofInternationalArbitrationissuedawardNo.(2023)SGZSC2970,rulingthat:XinhaiRongyaoandXinhaiHoldingsshallrepaytoRongyaoRealEstatetheentireloanprincipalofRMB531,972,922.51andtheinterestcalculatedatanannualrateof11%forthecorrespondingperiod,tentativelycalculatedtobeRMB122,139,715.52asofMarch31,2023,withsubsequentinterestcalculatedatanannualrateof11%untilthedateofactualfullrepayment;xinhaiInvestment,ChengjianRealEstate,LianghongIndustry,andTianchengInvestmentshallbearjointandseveralliabilityforthepaymentobligationsofXinhaiRongyaoandXinhaiHoldingstoRongyaoRealEstate;therespondentsshallbeartheattorney'sfeesofRMB220,000,thepropertypreservationfeeofRMB5,000,andthepreservationinsurancefeeofRMB288,872.88paidbyRongyaoRealEstate;therespondentsshallbearthearbitrationfeeofRMB3,440,688.3alreadypaidbyRongyaoRealEstate.RongyaoRealEstatehasappliedtotheShenzhenIntermediatePeople'sCourtforcompulsoryenforcement.OnDecember25,2025,RongyaoRealEstatereceivedtheEnforcementRulingandtheNoticeofSeizure,Detain,andFreezingofPropertyfromtheShenzhenIntermediatePeople'sCourt,statingthatthecourthadruledtoseizeandfreezeabatchofproperty.
(4)ArbitrationcaseconcerningequitytransferdisputeofShenzhenProperties&ResourcesDevelopment(Group)Ltd.AsXinhaiRongyaofailedtopaythecompensationforinvestmentlosstotheCompanyasagreed,theCompanyhasappliedtotheShenzhenCourtofInternationalArbitrationforarbitration.Itwasrequestedtorulethat:XinhaiRongyaoshallpayRMB170,556,833.33totheComapnyascompensationforinvestmentlosses;sichuanTrustCompanydoesnotlegallypossessthe1%equityofRongyaoRealEstateregisteredinitsname,confirmingthatXinhaiRongyaoistheactualownerofthesaid1%equity;xinhaiRongyaoshallpledgeandregisteritsactually-held31%equityofRongyaoRealEstatetotheCompany;sichuanTrustCompanyshallfacilitatetheregistrationproceduresforthepledgeofthe1%equityofRongyaoRealEstateintheaforesaidthirdarbitrationclaim;xinhaiRongyaoandSichuanTrustCompanyshallbeartheattorneyfeesofRMB780,000paidbytheCompany;thatXinhaiRongyaoandSichuanTrustCompanyshallbearallthearbitrationcostsandpropertypreservationexpensesofthiscase.TheprovisionaltotalamountinvolvedintheserulingsamountstoRMB171,336,833.33.InAugust2023,XinhaiRongyaofiledalawsuitwiththeShenzhenIntermediatePeople'sCourttoconfirmthevalidityofthearbitrationagreement,whichledtoatemporarysuspensionofthecasebythearbitrationtribunal.TheShenzhenIntermediatePeople'sCourtlaterdismissedtheopposingparty'sapplication,andthecasewasheardattheShenzhenCourtofInternationalArbitrationonDecember14,2023.
OnApril12,2024,anarbitrationawardwasreceived,rulingthatXinhaiRongyaoshallpaySZPRDcompensationofRMB50millionforinvestmentloss;xinhaiRongyaoshallpledgeandregisteritsactually-held30%equityofRongyaoRealEstatetotheCompany;xinhaiRongyaoshallcompensateSZPRDforlegalfeesofRMB150,000,preservationfeesofRMB3,000,preservationinsurancecostsofRMB41,120.84,andarbitrationfeesofRMB658,188.60.Intotal,XinhaiRongyaoisrequiredtopaytheCompanyRMB50,852,300.AsXinhaiRongyaofailedtofulfilltheawardasscheduled,theCompanyhasappliedforcompulsoryenforcement.OnJune27,2024,the30%equityofRongyaoRealEstateheldbyXinhaiRongyaowasfinallypledgedtotheCompanythroughthecourtenforcementprocedureandcontinuedtobesealedupandfrozen.OnNovember4,2024,thejudicialfreezingwasimmediatelyenforcedafterthe1%equityofRongyaoRealEstatewastransferredtoXinhaiRongyao.Attheissuancedateofthereport,thereisnonewdevelopmentinthecase.
(5)LitigationcaseconcerningcontractdisputeofShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.OnNovember1,2021,RongyaoRealEstate,XinhaiRongyao,ShenzhenMingdeXinchengInvestmentConsultingCo.,Ltd.(hereinafterreferredtoas"MingdeCompany")andShenzhenYinianRealEstateDevelopmentCo.,Ltd.(hereinafterreferredtoas"YinianCompany")signedtheFour-partyAgreement,whichstipulatedthatRongyaoRealEstateshallassistthepartiestotransferthesubjectrightsandinterestsintotheprojectdesignatedbyYinianCompany,andYinianCompanyshallmakepaymenttothedesignatedaccountofRongyaoRealEstateinfullandonscheduleasagreed.Subsequently,ShenzhenHezhengRealEstateGroupCo.,Ltd.(hereinafterreferredtoas"HezhengCompany")issuedaReplyLetterandaPaymentPlanLetter,committingthatifYinianCompanyfailstorepayonschedule,HezhengCompanywillbeartheresponsibilityforrepaymenttoRongyaoRealEstate.Duetotheaforementionedobligor'sfailuretomaketimelypayments,whichconstitutesaseriousbreachoftheagreementandseverelyunderminesthelegitimaterightsandinterestsofRongyaoRealEstate,thelatterhasfiledalawsuitwiththecourt,demandingthattherelevantobligorrepaytheoutstandingequitytransferpaymentofRMB65,250,598.72andpaytheliquidateddamagesforoverduepaymentofRMB7,600,806.70(calculatedatadailyrateof0.03%ontheunpaidprincipaloftheequitytransferpayment,provisionallycalculateduptoDecember5,2023,andshouldbeactuallycalculatedtothedateoffullrepayment).OnApril22,2025,RongyaoRealEstatereceivedtheNoticeofPropertyPreservationResultsfromthecourt,indicatingthatRongyaoRealEstatehadsuccessfullypreservedanadditionalbatchofthedefendant'sproperty.OnSeptember29,2025,thePeople'sCourtofLonghuaDistrict,ShenzhenissuedCivilJudgment(2024)Y0309MC11352,rulingthatYinianCompanyshall,withintendaysfromtheeffectivedateofthejudgment,payRongyaoRealEstatetheremainingnon-agriculturalindicatorequitytransferpaymentofRMB65,250,598.72andliquidateddamages(calculatedatadailyrateof0.03%tobeRMB7,776,983.32asofDecember14,2023,andthereaftercalculatedonthebasisofRMB65,250,598.72atadailyrateof0.03%fromDecember15,2023untilthedateoffullpayment);xinhaiRongyao,MingdeCompany,andHezhengCompanyshallbearjointandseveralliabilityfortherepaymentoftheaforementioneddebtsofYinianCompany.HezhengCompany,dissatisfiedwiththefirst-instancejudgment,hasfiledanappeal,andthecaseiscurrentlyinthesecond-instancestage.
(6)ThedisputecaseregardingtheloancontractofShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.,ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd.andShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.OnNovember5,2021,RongyaoRealEstateandShenzhenQianhaiAdvancedInformationServiceCo.,Ltd.(arelatedcompanyofXinhai,hereinafterreferredtoasQianhaiAdvancedInformationService)signedtheAgreementonAdvancePaymentandTaxPayment,stipulatingalltaxesandfeesarisingfromtheRelocationCompensationandResettlementAgreementinvolvedinthecaseshallbebornebyQianhaiAdvancedInformationService.Onthesameday,XinhaiRongyaoissuedaLetterofCommitmenttoBeartheRelevantTaxesandFeesforRelocationCompensation,pledgingtoprovide
jointandseveralguaranteefortheobligationofQianhaiAdvancedInformationServicetopayalltaxesandfeesarisingfromtheRelocationCompensationandResettlementAgreement.InordertoexpeditetheprojectdevelopmentandmitigatethesubstantialeconomiclossescausedbytheseriousdelayintheprojectscheduletoRongyaoRealEstate,RongyaoRealEstateagreedtotheapplicationfromXinhaiandadvancedrelevanttaxesandfeestotalingRMB10,720,575.27onbehalfofQianhaiAdvancedInformationServiceonJuly20,2021andJanuary26,2022.OnNovember30,2023,allpartiessignedtheConfirmationLetterofClaimsandDebts,confirmingthatasprovisionallycalculateduptoJune30,2023,theamounttobejointlyrepaidbyQianhaiAdvancedInformationServiceandXinhaiRongyaotoRongyaoRealEstateisRMB12.9167million,comprisingaprincipalofRMB10.7206millionandinterestofRMB2.1961million;thepartiesagreedthattheinterestshallaccrueat11%fromJuly1,2023,untilthedateoffullandfinalsettlementbyPartyBtoPartyA.QianhaiAdvancedInformationServiceandXinhaiRongyaofailedtomakerepaymentsasagreed.ThebreachofcontractbyXinhaihasseriouslyviolatedthetermsofrelevantagreementsandcommitmentletters.RongyaoRealEstatehasfiledalawsuitwiththeLonghuaDistrictPeople'sCourt.OnApril12,2025,theLonghuaDistrictPeople'sCourtofShenzhenMunicipalityissuedtheciviljudgment(2025)Y0309MC8262,rulingthatthedefendantQianhaiAdvancedInformationServiceshallrepaytheplaintiffRongyaoRealEstatetheprincipaloftheadvancedpaymentofRMB10,720,575.27andtheinterestthereonwithintendaysfromtheeffectivedateofthisjudgment(theinterestontheprincipalofRMB8,430,575.27shallbecalculatedatanannualinterestrateof11%fromJuly20,2021,untilthedateofactualsettlement;theinterestontheprincipalofRMB2,290,000shallbecalculatedatanannualinterestrateof11%fromJanuary26,2022,untilthedateofactualsettlement).ThedefendantXinhaiRongyaoshallbear50%ofthecompensationliabilityfortheportionofthefirstdebtofthedefendantQianhaiAdvancedInformationServicethatcannotberepaid.TheotherclaimsoftheplaintiffRongyaoRealEstateweredismissed.RongyaoRealEstate,dissatisfiedwiththefirst-instancejudgment,hasfiledanappeal,andthecaseiscurrentlyinthesecond-instancestage.
(7)ThecontractdisputecaseinvolvingShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.,ShenzhenQianhaiAdvancedInformationServiceCo.,Ltd.,ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.andShenzhenXinhaiHoldingsCo.,Ltd.DuringthedemolitionprocessoftheBanglingProject,QianhaiAdvancedInformationServicerepeatedlysentletterstoRongyaoRealEstaterequestinganadvancepaymentofthedemolitionservicefeesandpledgingtotaketheamountprepaidbythelatterastheprincipalandpaytheoccupancyfeetothelatteratanannualizedinterestrateof11%basedontheactualdurationtheprepaidamountisactuallyutilized.IfQianhaiAdvancedInformationServicefailstocompletethedemolitionworkonschedule,RongyaoRealEstatehastherighttorequestXinhaitorefundtheprincipaldifferenceandrelevantoccupancyfee.Additionally,RongyaoRealEstateisentitledtoimposeapenaltyinterestof50%oftheaforementioned11%interestrateonthedifferencebasedonthedurationoftheoccupancy.XinhaiRongyaoandXinhaiHoldingsshallbejointlyandseverallyliablefortheabovedebts.InordertoexpeditetheprojectdevelopmentandmitigatethesubstantialeconomiclossescausedbytheseriousdelayintheprojectscheduletoRongyaoRealEstate,RongyaoRealEstateagreedtotheapplicationfromXinhaiandadvancedtherelevantdemolitionservicefees.OnNovember30,2023,RongyaoRealEstatesignedtheConfirmationLetterofClaimsandDebtswithXinhaiRongyao,QianhaiAdvancedInformationService,andXinhaiHoldings,confirmingthatasprovisionallycalculateduptoJune30,2023,thetotalamounttobejointlyrepaidbyXinhaitoRongyaoRealEstateisRMB12.3768million.AsXinhaihasseriouslyviolatedthetermsofrelevantagreementsandcommitmentletters,RongyaoRealEstatehasfiledalawsuitwiththeLonghuaDistrictPeople'sCourt.OnOctober30,2025,theLonghuaDistrictPeople'sCourtofShenzhenMunicipalityissuedtheciviljudgment(2025)Y0309MC15386,rulingthatthedefendantsQianhaiAdvancedInformationService,XinhaiRongyao,andXinhaiHoldingsshallpaytheplaintiffRongyaoRealEstatetheinterestondemolitionservicefeesamountingtoRMB12.3768millionwithintendaysfromtheeffectivedateofthisjudgment;theotherclaimsoftheplaintiffRongyaoRealEstateweredismissed.
Thejudgmentinthiscaseisbeingservedonthedefendantsbypublicannouncementandhasnotyettakeneffect.
(8)OnthedisputebetweenShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.andShenzhenHerunxiangTradingCo.,Ltd.&ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.overthecreditor'srightanddebtoftheregisteredtaxpaymentforthetransferofthecertifiedrealestateoftheformerShenfaFactory.InordertoacceleratethedevelopmentprogressoftheBanglingproject,onOctober18,2021,ShenzhenHerunxiangTradingCo.,Ltd.(hereinafterreferredtoasHerunxiang)andXinhaiRongyaoissuedanApplicationLetterforAdvancingPaymentofTaxesandFeesRelatedtotheTransferandCancellationoftheCertifiedPropertyoftheFormerShenfaFactorytoRongyaoRealEstate.TheapplicationletterstatedthatduetothefinancialdifficultiesofHerunxiang,theyappliedtoRongyaoRealEstatetoadvancethetaxesandfeesamountingtoatotalofapproximatelyRMB10milliontoRMB15million(thefinalamounttobedeterminedbythepropertyregistrationdepartment)incurredbyHerunxiangforthetransferregistrationofthecertifiedpropertyoftheformerShenfaFactory.ThesetaxesandfeeswillsubsequentlyberepaidbyRongyaoRealEstateonbehalfofHerunxiang.OnNovember5,2021,XinhaiRongyaoissuedanotherLetterofCommitmentforRepaymenttoRongyaoRealEstate,pledgingtosubsequentlyrefundthetaxesandfeesaswellasinterestsincurredonbehalfofHerunxiang,andagreedthattheproceedsfromthecollaborativeprojectssuchasGuanlanBenglingcouldbeusedtooffsettheguaranteedpaymentsunderthisLetterofCommitmentonaprioritybasis.Toexpeditetheprojectdevelopmentprogress,RongyaoRealEstateadvancedthetransfertaxes,fees,andregistrationfeesfortheShenfaFactory,totalingRMB20,042,800,onAugust2,2022.AsHerunxiangandXinhaiRongyaofailedtorepaytheprincipalandinterestasagreed,RongyaoRealEstatehasfiledalawsuitwiththeLonghuaDistrictPeople'sCourtofShenzhenMunicipality.OnNovember27,2025,RongyaoRealEstatereceivedthecourt'sjudgment,whichruledthatthedefendantHerunxiangshallrepaytheplaintiffRongyaoRealEstatetheprincipaloftheadvancedpaymentofRMB20,042,817.72andtheinterestthereon(calculatedonthebasisofRMB20,042,817.72atanannualinterestrateof11%fromAugust2,2022,untilthedateofactualsettlement);thedefendantXinhaiRongyaoshallbear50%ofthecompensationliabilityfortheportionofthefirstdebtofthedefendantHerunxiangthatcannotberepaidtotheplaintiffRongyaoRealEstate.RongyaoRealEstatehasfiledanappealinaccordancewiththelaw.TheserviceofprocessonHerunxiangisbeingconductedbypublicannouncement,andthecasehasnotyetbeenformallyfiled.
(9)ThelawsuitcaseregardingthepropertymanagementfeesofShenzhenXuanshengIndustrialDevelopmentCo.,Ltd.PartoftheOverseasFriendshipBuilding,locatedatNo.12YingchunRoad,LuohuDistrict,Shenzhen,isownedbytheUnitedFrontWorkDepartmentofShenzhenMunicipalPartyCommittee,andShenzhenJinhailianPropertyManagementCo.,Ltd.(hereinafterreferredtoasJinhailian)hasbeenauthorizedbytheUnitedFrontWorkDepartmentofShenzhenMunicipalPartyCommitteetomanagethesaidproperty.OnDecember31,2006,JinhailianandShenzhenXuanshengIndustrialDevelopmentCo.,Ltd.(hereinafterreferredtoas"Xuansheng")signedthePropertyManagementAgreementofOverseasFriendshipBuilding,whichstipulatedthatXuanshengCompanyshallprovidepropertymanagementservicestoJinhailian,andJinhailianshallpaypropertymanagementfeestoXuanshengCompanyforcertainfloorsoftheOverseasFriendshipBuilding,includingthefirstfloor,floors3-8attherateofRMB5persquaremeter.OnApril24,2024,JinhailianreceivedasummonsfromtheLuohuDistrictPeople'sCourtofShenzhen.XuanshengsuedJinhailianforadisputeoverapropertyservicecontract,withthesubjectmatterofthelawsuitamountingtoRMB1,869,272(XuanshengsuedJinhailianCompanyforthepaymentofpropertymanagementfees,waterandelectricityfees,airconditioningfees,andlatefeesforthe8th-10thfloors,31stfloor,andundergroundparkinglotoftheOverseasFriendshipBuilding,totalingRMB1,869,272).OnJune13,2024,theLuohuDistrictPeople'sCourtofShenzhenmadeafirst-instancejudgment,rulingthatJinhailianshallpayatotalofRMB327,250.18forpropertymanagementfees,waterfees,air
conditioningfeesandlatepaymentpenaltiesforfloors8-10ofOverseasFriendshipBuildingfromJune12,2022toFebruary29,2024toXuansheng,attherateofRMB5persquaremeter.Inaddition,forthe31stfloor,JinhailianshallpayatotalofRMB91,831.89forpropertymanagementfeesandlatepaymentpenaltiesfromJanuary1,2019toFebruary29,2024,attherateofRMB3persquaremeter.ThetotalamountstandsatRMB419,082.07(thepropertymanagementfeesforfloors9-10andthe31stflooraredeterminedbasedonobjectivefacts).Notsatisfiedwiththejudgmentofthefirstinstance,Jinhailianfiledanappeal.OnNovember21,2025,Jinhailianreceivedthesecond-instancejudgmentfromtheShenzhenIntermediatePeople'sCourt,whichrejectedJinhailian'sappealandupheldtheoriginaljudgmentofthefirstinstance.OnDecember11,2025,Xuanshengappliedtothecourtforcompulsoryenforcement.Jinhailianhaspaidalltheamountsdeterminedbythefirst-instancejudgmenttoXuansheng,andthiscasehasbeenclosed.
(10)Arbitrationcaseconcerningthecontractdispute(issuanceofinvoices)betweenShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.andShenzhenQianhaiAdvancedInformationServiceCo.,Ltd.RongyaoRealEstateandQianhaiAdvancedInformationServicesignedthe"UrbanRenewalEntrustedServiceAgreement"(ContractNo.:QHGD-JS-18-005)onDecember24,2018,whichstipulatedthatQianhaiAdvancedInformationServicewouldprovideRongyaoRealEstatewithdemolitionservicesfortheurbanrenewalprojectintheBanglingareaofGuanlanSub-district,LonghuaDistrict,Shenzhen.RongyaoRealEstatehaspaidthevastmajorityoftheamountasagreedinthecontract,totalingRMB292,873,900,butQianhaiAdvancedInformationServicehasnotyetissuedtheremainingportionofvalue-addedtaxinvoicestotalingRMB219,980,400infullasagreedinthecontract.RongyaoRealEstatehassentseveral"ReminderLetters"toQianhaiAdvancedInformationService,requestingittoissuetheinvoiceswithinaspecifiedperiod,butQianhaiAdvancedInformationServicehasstillfailedtodosoonschedule.RongyaoRealEstatehasappliedtotheShenzhenCourtofInternationalArbitrationforarbitration,andthecasehasnotyetbeenruledon.
(11)Arbitrationcaseconcerningthedisputeoveradvancepayments(WanliFactory)byZhangTenghong,YangFeng,LiYuxiang,andZhuJiandongamongShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.,ShenzhenXinhaiHoldingCo.,Ltd.,ShenzhenXinhaiRongyaoRealEstateDevelopmentCo.,Ltd.YangFeng,LiYuxiangandZhuJiandong(hereinafterreferredtoas"thethreeindividuals")purchasedthepropertyinvolvedinthecasefromWanliFlockingFactoryandHualiFlocking&BlisterProductsCo.,Ltd.(hereinafterreferredtoas"HualiFactory")inJuly2019andsigneda"TransferAgreement".TheactualcontrollerofbothWanliFlockingFactoryandHualiFactoryisLinMinghai.XinhaiHoldingsanditsactualcontrollerZhangTenghongprovidedaguaranteetoensurethatthethreeindividualspaidthefulltransferamounttoWanliFlockingFactoryandHualiFactoryasstipulatedintheaforementioned"TransferAgreement".AsofJune30,2021,thethreeindividualsstillowedWanliFlockingFactoryandHualiFactoryRMB2million,RMB11.31million,andRMB3.07million,respectively.AfterdeductingtheRMB3millionininterestpaidbyXinhaiontheirbehalf,thetotaloutstandingprincipalwasRMB16.37million.Accordingtotheagreement,thethreeindividualsalsoneededtopayinteresttotalingapproximatelyRMB6.13million(fortheinterestperiodfromJanuary7,2020toJune30,2021),withacombinedtotalofprincipalandinterestofapproximatelyRMB22.48million.SincethedemolishedpropertycorrespondingtoWanliFlockingFactoryhadpreviouslyobtainedadispositiondecisionfromgovernmentdepartmentsthroughtheprocessofresolvinghistoricalissues,thegovernmentdepartmentsrequiredthatthedemolitioncompensationagreementmustbesignedbyWanliFlockingFactoryandRongyaoRealEstate,andthelandacquisitionagreementmustbesignedbyWanliFlockingFactoryandtheDistrictPlanningandNaturalResourcesBureau.However,whensigningthedemolitioncompensationagreement,XinhaiRongyaoandQianhaiAdvancedInformationServicenegligentlyfailedtoaccuratelyverifythissituation,andRongyaoRealEstatesignedademolitioncompensationagreementwiththethreeindividualsandpaidtherelevantdemolitioncompensation.Aftermultiplecommunications,LinMinghaimadeitclearthatiftheissueofthedebtowedbythethreeindividualswasnotresolved,hewouldnotcooperateinsigningthetwoagreements.Tosmoothly
advancetheprojectprogress,RongyaoRealEstatepaidRMB7,187,264.15,RMB10,000,000.00,andRMB7,365,970.35toLinMinghaionbehalfofthethreeindividuals,andsigneda"Creditor'sRightsTransferNotice"upontherequestofXinhaiHoldingsandXinhaiRongyao.Asofnow,thepartieshavenotyetrepaidtherelevanttransferprincipalofRMB24,553,234.50andtherelatedinterest(calculatedatanannualinterestrateof11%,referencingothersimilarpaymentsowedbytherespondenttotheapplicant).RongyaoRealEstateappliedtotheShenzhenCourtofInternationalArbitrationforarbitrationonOctober13,2025,andthecaseisstillunderreviewforfiling.
(12)Asarealestatedeveloper,theCompanyhasprovidedmortgageloanguaranteeandpaidloandepositsforbuyersofcommercialhousingaccordingtotheoperatingpracticeoftherealestateindustry.AsofDecember31,2025,thebalanceofdepositsforwhichtheguaranteehasn'tyetbeenreleasedstoodatRMB1,136,395.96,andthesaidguaranteewillbereleaseduponthefullrepaymentofthemortgageloans.Asarealestatedeveloper,theCompanyhasprovidedmortgageloanguaranteeforbuyersofcommercialhousinginaccordancewiththeoperatingpracticeoftherealestateindustry.AsofDecember31,2025,thebalanceoftheguaranteethathasnotbeenreleasedwasRMB542,029,425.42,andthesaidguaranteewillbereleaseduponthefullrepaymentofthemortgageloans.
(2)NotesshallbegiveneveniftherewerenosignificantcontingenciesrequiredtobedisclosedbytheCompanyTheCompanyhasnosignificantcontingenciesrequiredtobedisclosed.
3.OthersXVII.Eventsafterthebalancesheetdate
1.Significantnon-adjustmentmatters
Unit:RMB
| Item | Contents | Impactnumberonfinancialpositionandoperatingresults | Reasonswhytheimpactnumbercannotbeestimated |
2.Profitdistribution
| Proposeddividendper10shares(RMB) | 0 |
| Proposedbonussharesper10shares(shares) | 0.20 |
| Proposedsharesconvertedper10sharesheld(shares) | 0 |
| Dividendper10sharesdeclaredupondeliberationandapproval(RMB) | 0 |
| Bonussharesper10sharesdeclaredupondeliberationandapproval(shares) | 0.20 |
| Numberofsharesconvertedper10sharesdeclaredupondeliberationandapproval(shares) | 0 |
3.Salesreturn
4.Eventsafterthebalancesheetdate
18.Othersignificantevents
1.Correctionofaccountingerrorsinpriorperiod
(1)Retrospectiverestatementmethod
Unit:RMB
| Contentsofcorrectionofaccountingerrors | Processingprocedure | Namesofstatementitemsaffectedofcomparativeperiods | Cumulativeimpact |
(2)Prospectiveapplicationmethod
| Contentsofcorrectionofaccountingerrors | Approvalprocedure | Reasonsforadoptingtheprospectiveapplicationmethod |
2.Debtrestructuring
3.Assetreplacement
(1)Exchangeofnon-monetaryassets
(2)Replacementofotherassets
4.Annuityplan
5.Discontinuedoperations
Unit:RMB
| Item | Revenue | Costs | Totalprofits | Incometaxexpenses | Netprofit | Profitfromdiscontinuedoperationsattributabletoownersoftheparentcompany |
Otherexplanations:
SegmentinformationDeterminationbasisandaccountingpoliciesforreportingsegmentsFinancialinformationofreportingsegments
Unit:RMB
| Item | Realestatebusiness | Propertymanagement | Assetoperation | Inter-segmentoffset | Total |
| Operatingrevenue | 566,898,152.30 | 1,637,200,390.78 | 179,189,706.94 | 2,383,288,250.02 | |
| Operatingcosts | 352,384,575.15 | 1,302,960,305.27 | 81,813,841.32 | 1,737,158,721.74 |
| Totalassets | 10,427,729,656.34 | 4,398,033,757.49 | 602,364,539.91 | 15,428,127,953.74 | |
| Totalliabilities | 8,180,210,875.06 | 3,830,011,110.26 | 183,660,051.35 | 12,193,882,036.67 |
(3)IftheCompanyhasnoreportingsegments,orcannotdisclosethetotalassetsandtotalliabilitiesofeachreportingsegment,thereasonsshallbestated.
(4)Othernotes
7.Othersignificanttransactionsandeventsthatinfluencethedecision-makingofinvestors
8.OthersXIX.Notestothemainitemsoftheparentcompany'sfinancialstatements
1.Accountsreceivable
(1)Disclosurebyaging
Unit:RMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(including1year) | 2,720,519.78 | 2,345,620.53 |
| 1-2years | 312,572.00 | 123,067,359.04 |
| 2to3years | 14,060,591.53 | 12,649.00 |
| Over3years | 96,837,029.35 | 96,824,380.35 |
| 3-4years | 12,649.00 | |
| 4to5years | 9,756.00 | |
| Over5years | 96,824,380.35 | 96,814,624.35 |
| Total | 113,930,712.66 | 222,250,008.92 |
(2)Disclosurebyprovisionmethodforbaddebts
Unit:RMB
| Type | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
| Amount | Ratio | Amount | Provisionratio | Amount | Ratio | Amount | Provisionratio | |||
| Accountsreceivablewithprovisionforbaddebtsonanindividualbasis | 98,361,615.94 | 86.33% | 98,361,615.94 | 100.00% | 0.00 | 98,246,909.94 | 44.21% | 98,246,909.94 | 100.00% | 0.00 |
| Including: | ||||||||||
| Accountsreceivablewith | 15,569,096.72 | 13.67% | 323,948.60 | 2.08% | 15,245,148.12 | 124,003,098.98 | 55.79% | 11,134,017.20 | 8.98% | 112,869,081.78 |
| provisionforbaddebtsonacombinationbasis | ||||||||||
| Including: | ||||||||||
| Total | 113,930,712.66 | 100.00% | 98,685,564.54 | 86.62% | 15,245,148.12 | 222,250,008.92 | 100.00% | 109,380,927.14 | 49.22% | 112,869,081.78 |
Provisionforbaddebtsaccruedonanindividualbasis:RMB98,361,615.94
Unit:RMB
| Name | Beginningbalance | Endingbalance | ||||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | Provisionratio | Reasonsforprovision | |
| ShenzhenJiyongPropertyDevelopmentCo.,Ltd. | 93,811,328.05 | 93,811,328.05 | 93,811,328.00 | 93,811,328.00 | 100.00% | Involvedinlitigationandirrecoverable |
| ShenzhenTeweiIndustrialCo.,Ltd.(ChenhuiBuilding) | 2,836,561.00 | 2,836,561.00 | 2,836,561.00 | 2,836,561.00 | 100.00% | Longagingandestimatedtobeirrecoverable |
| LuohuDistrictEconomicDevelopmentCompany | 54,380.35 | 54,380.35 | 54,380.35 | 54,380.35 | 100.00% | Longagingandestimatedtobeirrecoverable |
| Accountsreceivablewithinsignificantsingleamountbutsubjecttoprovisionforbaddebtsonanindividualbasis | 1,544,640.54 | 1,544,640.54 | 1,659,346.59 | 1,659,346.59 | 100.00% | Involvedinlitigationandirrecoverable |
| Total | 98,246,909.94 | 98,246,909.94 | 98,361,615.94 | 98,361,615.94 | ||
Provisionforbaddebtsaccruedoncombination:RMB323,948.60
Unit:RMB
| Name | Endingbalance | ||
| Bookbalance | Provisionforbaddebts | Provisionratio | |
| Creditriskcharacteristiccombination | 3,443,319.59 | 323,948.60 | 9.41% |
| Governmentfundingcombination | 12,125,777.13 | 0.00 | 0.00% |
| Total | 15,569,096.72 | 323,948.60 | |
Explanationonthebasisfordeterminingthecombination:
Iftheprovisionforbaddebtsofaccountsreceivableismadeinaccordancewiththegeneralmodelofexpectedcreditlosses:
□Applicable?Notapplicable
(3)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiodProvisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
| Provisionforbaddebtsonanindividualbasis | 98,246,909.94 | 114,706.00 | 98,361,615.94 | |||
| Provisionforbaddebtsmadebyportfolio | 11,134,017.20 | -10,810,068.60 | 323,948.60 | |||
| Total | 109,380,927.14 | -10,695,362.60 | 98,685,564.54 | |||
Significantamountsofrecoveredorreversedprovisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
(4).Actualwrite-offofaccountsreceivableforthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Includingwrite-offofimportantaccountsreceivable:
Unit:RMB
| Entityname | Natureofaccountsreceivable | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationonwrite-offofaccountsreceivable:
(5)Topfiveaccountsreceivablebythedebtorintermsoftheendingbalanceandcontractassets
Unit:RMB
| Entityname | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalancesofaccountsreceivableandcontractassets | Ratiotothetotalamountofendingbalanceofaccountsreceivableandcontractassets(%) | Endingbalanceofprovisionforbaddebtsofaccountsreceivableandprovisionforimpairmentofcontractassets |
| Entityname | Endingbalanceofaccountsreceivable | Endingbalanceofcontractassets | Endingbalancesofaccountsreceivableandcontractassets | Ratiotothetotalamountofendingbalanceofaccountsreceivableandcontractassets(%) | Endingbalanceofprovisionforbaddebtsofaccountsreceivableandprovisionforimpairmentofcontractassets |
| ShenzhenJiyongPropertyDevelopmentCo.,Ltd. | 93,811,328.05 | 93,811,328.05 | 82.34% | 93,811,328.05 | |
| ShenzhenFutianDistrictGovernmentPropertyManagementCenter | 12,125,777.13 | 12,125,777.13 | 10.64% | 0.00 | |
| ShenzhenTeweiIndustrialCo.,Ltd.(ChenhuiBuilding) | 2,836,561.00 | 2,836,561.00 | 2.49% | 2,836,561.00 | |
| ShenzhenFeihuangIndustrialCo.,Ltd. | 769,919.05 | 769,919.05 | 0.68% | 769,919.05 | |
| ShenzhenMeigeXiaziCateringManagementCo.,Ltd. | 542,366.40 | 542,366.40 | 0.48% | 542,366.40 | |
| Total | 110,085,951.63 | 110,085,951.63 | 96.63% | 97,960,174.50 |
2.Otherreceivables
Unit:RMB
| Item | Endingbalance | Beginningbalance |
| Otherreceivables | 8,481,001,540.48 | 4,279,938,165.85 |
| Total | 8,481,001,540.48 | 4,279,938,165.85 |
(1)Interestreceivable
1)Classificationofinterestreceivable
Unit:RMB
| Item | Endingbalance | Beginningbalance |
2)Significantoverdueinterest
Unit:RMB
| Borrower | Endingbalance | Overduetime | Reasonforoverdue | Whetherimpairmentoccursandthebasisforjudgment |
Otherexplanations:
3)Disclosurebyprovisionmethodforbaddebts
□Applicable?Notapplicable
4)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiod
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Resaleorwrite-off | Otherchanges | |||
Significantamountsofrecoveredorreversedprovisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
Otherexplanations:
5)Actualwrite-offofinterestreceivableforthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Includingwrite-offofimportantinterestreceivable
Unit:RMB
| Entityname | Natureofpayment | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationonwrite-off:
Otherexplanations:
(2)Dividendsreceivable
1)Classificationofdividendsreceivable
Unit:RMB
| Project(orinvestees) | Endingbalance | Beginningbalance |
2)Significantdividendsreceivablewithagingover1year
Unit:RMB
| Project(orinvestees) | Endingbalance | Aging | Reasonfornotwithdrawing | Whetherimpairmentoccursandthebasisforjudgment |
3)Disclosurebyprovisionmethodforbaddebts
□Applicable?Notapplicable
4)Provisionforbaddebtsaccrued,recoveredorreversedforthecurrentperiod
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Resaleorwrite-off | Otherchanges | |||
Significantamountsofrecoveredorreversedprovisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
Otherexplanations:
5)Actualwrite-offofdividendsreceivableinthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Write-offofimportantdividendsreceivable
Unit:RMB
| Entityname | Natureofpayment | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationonwrite-off:
Otherexplanations:
(3)Otherreceivables
1)Classificationofotherreceivablesbynatureofpayment
Unit:RMB
| Natureofpayment | Endingbookbalance | Beginningbookbalance |
| Guaranteeddeposit | 2,201,327.00 | 2,225,127.00 |
| Withholdingpayments | 15,861.02 | 24,068.13 |
| Externaltransactions | 134,696,979.69 | 136,954,520.92 |
| Transactionswithsubsidiaries | 8,370,324,659.28 | 4,169,668,944.36 |
| Total | 8,507,238,826.99 | 4,308,872,660.41 |
2)Disclosurebyaging
Unit:RMB
| Aging | Endingbookbalance | Beginningbookbalance |
| Within1year(including1year) | 8,370,804,520.30 | 4,169,820,435.08 |
| 1-2years | 122,422.59 | 97,134.37 |
| 2to3years | 97,134.37 | |
| Over3years | 136,214,749.73 | 138,955,090.96 |
| 3-4years | 35,449.05 | |
| 4to5years | 33,649.05 | 69,600.00 |
| Over5years | 136,181,100.68 | 138,850,041.91 |
| Total | 8,507,238,826.99 | 4,308,872,660.41 |
3)Disclosurebyprovisionmethodforbaddebts
Unit:RMB
| Type | Endingbalance | Beginningbalance | ||||||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | |||||
| Amount | Ratio | Amount | Provisionratio | Amount | Ratio | Amount | Provisionratio | |||
| Provisionforbaddebtsaccruedonanindividualbasis | 127,274,122.98 | 1.50% | 17,247,611.17 | 13.55% | 110,026,511.81 | 129,990,664.21 | 3.02% | 19,987,454.18 | 15.38% | 110,003,210.03 |
| Including: | ||||||||||
| Provisionforbaddebtsmadebyportfolio | 8,379,964,704.01 | 98.50% | 8,989,675.34 | 0.11% | 8,370,975,028.67 | 4,178,881,996.20 | 96.98% | 8,947,040.38 | 0.21% | 4,169,934,955.82 |
| Including: | ||||||||||
| Total | 8,507,238,826.99 | 100.00% | 26,237,286.51 | 0.31% | 8,481,001,540.48 | 4,308,872,660.41 | 100.00% | 28,934,494.56 | 0.67% | 4,279,938,165.85 |
Provisionforbaddebtsaccruedonanindividualbasis:RMB17,247,611.17
Unit:RMB
| Name | Beginningbalance | Endingbalance | ||||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | Provisionratio | Reasonsforprovision | |
| ShumYipPropertiesDevelopmentLimited | 113,562,200.85 | 3,558,990.82 | 110,845,659.62 | 819,147.81 | 0.74% | Failedtorecoverforalongtime |
| ShanghaiYutongRealEstateCo.,Ltd. | 5,676,000.00 | 5,676,000.00 | 5,676,000.00 | 5,676,000.00 | 100.00% | Failedtorecoverforalongtime |
| HongKongHengyueDevelopmentCompanyLimited(WuyaoCompany) | 3,271,837.78 | 3,271,837.78 | 3,271,837.78 | 3,271,837.78 | 100.00% | Failedtorecoverforalongtime |
| DameishaTourismCenter | 2,576,445.69 | 2,576,445.69 | 2,576,445.69 | 2,576,445.69 | 100.00% | Failedtorecoverforalongtime |
| ElevatedTrainProject | 2,542,332.43 | 2,542,332.43 | 2,542,332.43 | 2,542,332.43 | 100.00% | Failedtorecoverforalongtime |
| Accountsreceivablewith | 2,361,847.46 | 2,361,847.46 | 2,361,847.46 | 2,361,847.46 | 100.00% | Failedtorecoverfora |
| Name | Beginningbalance | Endingbalance | ||||
| Bookbalance | Provisionforbaddebts | Bookbalance | Provisionforbaddebts | Provisionratio | Reasonsforprovision | |
| insignificantsingleamountbutsubjecttoprovisionforbaddebtsonanindividualbasis | longtime | |||||
| Total | 129,990,664.21 | 19,987,454.18 | 127,274,122.98 | 17,247,611.17 | ||
Provisionforbaddebtsaccruedoncombination:RMB8,989,675.34
Unit:RMB
| Name | Endingbalance | ||
| Bookbalance | Provisionforbaddebts | Provisionratio | |
| Within1year(including1year) | 479,861.02 | 14,395.83 | 3.00% |
| 1-2years(including2years) | 122,422.59 | 12,242.26 | 10.00% |
| 2-3years(including3years) | 97,134.37 | 29,140.31 | 30.00% |
| 3-4years(including4years) | |||
| 4-5years(including5years) | 33,649.05 | 26,919.24 | 80.00% |
| Over5years | 8,906,977.70 | 8,906,977.70 | 100.00% |
| Total | 9,640,044.73 | 8,989,675.34 | |
Explanationonthebasisfordeterminingthecombination:
Theprovisionforbaddebtsmadeaccordingtothegeneralmodelofexpectedcreditlosses
Unit:RMB
| Provisionforbaddebts | PhaseI | PhaseII | PhaseIII | Total |
| Expectedcreditlossesoverthenext12months | Expectedcreditlossthroughouttheduration(withoutcreditimpairment) | Expectedcreditlossthroughouttheduration(withcreditimpairment) | ||
| BalanceasofJanuary1,2025 | 8,947,040.38 | 19,987,454.18 | 28,934,494.56 | |
| BalanceasofJanuary1,2025inthecurrentperiod | ||||
| Provisionforthecurrentperiod | 42,634.94 | -2,739,842.99 | -2,697,208.05 | |
| BalanceasofDecember31,2025 | 8,989,675.32 | 17,247,611.19 | 26,237,286.51 |
BasisfordivisionofeachstageandratioofprovisionforbaddebtsChangesinthebookbalanceofprovisionforlosswithsignificantchangesinthecurrentperiod
□Applicable?Notapplicable
4)Provisionforbaddebtsaccrued,recoveredorreversedinthecurrentperiodProvisionforbaddebtsforthecurrentperiod:
Unit:RMB
| Type | Beginningbalance | Changesinthecurrentperiod | Endingbalance | |||
| Provision | Recoveryorreversal | Resaleorwrite-off | Others | |||
| Otherreceivables | 28,934,494.56 | -2,697,208.05 | 26,237,286.51 | |||
| Total | 28,934,494.56 | -2,697,208.05 | 26,237,286.51 | |||
Reversalorrecoveryofsignificantamountofprovisionforbaddebtsinthecurrentperiod:
Unit:RMB
| Entityname | Recoveredorreversedamount | Reasonforreversal | Recoverymethod | Basisfordeterminingtheratioofprovisionforbaddebtsanditsrationality |
5)Otherreceivablesactuallywrite-offinthecurrentperiod
Unit:RMB
| Item | Amountofwrite-off |
Importantotherreceivableswrite-off:
Unit:RMB
| Entityname | Natureofotherreceivables | Amountofwrite-off | Reasonsforwrite-off | Write-offproceduresperformed | Whetherthefundisgeneratedbyrelatedpartytransactions |
Explanationsonwrite-offofotherreceivables:
6)Otherreceivablesofthetopfiveendingbalancescollectedbydebtor
Unit:RMB
| Entityname | Natureofamount | Endingbalance | Aging | Ratiotothetotalendingbalanceofotherreceivables | Balanceofprovisionforbaddebtsasattheendoftheperiod |
| ShenzhenRongyaoRealEstateDevelopmentCo.,Ltd. | Internaltransactions | 3,548,085,777.28 | Within1year | 41.71% | |
| DongguanWuheRealEstateCo.,Ltd. | Internaltransactions | 2,113,760,170.00 | Within1year | 24.85% | |
| ShenzhenITCTechnologyParkServiceCo.,Ltd. | Internaltransactions | 994,913,534.34 | Within1year | 11.69% | |
| ShenzhenGuangmingWuheRealEstateCo.,Ltd. | Internaltransactions | 847,200,000.00 | Within1year | 9.96% | |
| YangzhouWuheRealEstateCo.,Ltd. | Internaltransactions | 756,192,131.69 | Within1year | 8.89% | |
| Total | 8,260,151,613.31 | 97.10% |
7)Reportedasotherreceivablesduetocentralizedfundmanagement
Unit:RMBOtherexplanations:
3.Long-termequityinvestments
Unit:RMB
| Item | Endingbalance | Beginningbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| Investmentinsubsidiaries | 1,356,325,401.10 | 478,042,560.29 | 878,282,840.81 | 1,356,325,401.10 | 65,834,000.00 | 1,290,491,401.10 |
| Investmentsinassociatesandjointventures | 287,986,191.53 | 18,983,614.14 | 269,002,577.39 | 287,171,419.66 | 18,983,614.14 | 268,187,805.52 |
| Total | 1,644,311,592.63 | 497,026,174.43 | 1,147,285,418.20 | 1,643,496,820.76 | 84,817,614.14 | 1,558,679,206.62 |
(1)Investmentinsubsidiaries
Unit:RMB
| Investees | Beginningbalance(bookvalue) | Beginningbalanceofprovisionforimpairment | Increase/decreaseinthisperiod | Endingbalance(bookvalue) | Balanceofprovisionforimpairmentasattheendoftheperiod | |||
| Additionalinvestment | Reducedinvestment | Provisionforimpairment | Others | |||||
| ShenzhenHuangchengRealEstateCo.,Ltd. | 35,552,671.93 | 35,552,671.93 | ||||||
| ShenzhenWuheIndustryInvestmentandDevelopmentCo.,Ltd. | 44,950,000.00 | 44,950,000.00 | ||||||
| SZPRDYangzhouRealEstateDevelopmentCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | ||||||
| DongguanITCChangshengRealEstateDevelopmentCo.,Ltd. | 20,000,000.00 | 20,000,000.00 | ||||||
| ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd. | 195,337,851.23 | 195,337,851.23 | ||||||
| ShenzhenPropertyEngineeringandConstructionSupervisionCo.,Ltd. | 3,000,000.00 | 3,000,000.00 | ||||||
| ShenzhenPropertyCommercialOperationCo.,Ltd. | 63,509,120.32 | 63,509,120.32 | ||||||
| ShumYipPropertiesDevelopmentLimited | 15,834,000.00 | 15,834,000.00 | ||||||
| SZPRDXuzhouDapengRealEstateDevelopmentCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | ||||||
| ShenzhenRongyaoRealEstateDevelopment | 508,000,000.00 | 412,208,560.29 | 95,791,439.71 | 412,208,560.29 | ||||
| Investees | Beginningbalance(bookvalue) | Beginningbalanceofprovisionforimpairment | Increase/decreaseinthisperiod | Endingbalance(bookvalue) | Balanceofprovisionforimpairmentasattheendoftheperiod | |||
| Additionalinvestment | Reducedinvestment | Provisionforimpairment | Others | |||||
| Co.,Ltd. | ||||||||
| DongguanWuheRealEstateCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | ||||||
| ShenzhenGuangmingWuheRealEstateCo.,Ltd. | 50,000,000.00 | 50,000,000.00 | ||||||
| ShenzhenWuheUrbanRenewalCo.,Ltd. | 236,641,757.62 | 236,641,757.62 | ||||||
| YangzhouWuheRealEstateCo.,Ltd. | 33,500,000.00 | 33,500,000.00 | ||||||
| Total | 1,290,491,401.10 | 65,834,000.00 | 412,208,560.29 | 878,282,840.81 | 478,042,560.29 | |||
Investmentsinassociatesandjointventures
Unit:RMB
| Investees | Beginningbalance(bookvalue) | Beginningbalanceofprovisionforimpairment | Increase/decreaseinthisperiod | Endingbalance(bookvalue) | Balanceofprovisionforimpairmentasattheendoftheperiod | |||||||
| Additionalinvestment | Reducedinvestment | Investmentprofitorlossrecognizedundertheequitymethod | Adjustmentofothercomprehensiveincome | Changesinotherequity | Cashdividendsorprofitsdeclaredtobepaid | Provisionforimpairment | Others | |||||
| I.Jointventures | ||||||||||||
| ShenzhenPropertyJifaWarehousingCo.,Ltd. | 232,356,600.98 | 90,014.66 | 232,446,615.64 | |||||||||
| ShenzhenTian'anInternationalBuildingPropertyManagementCo.,Ltd. | 5,739,071.22 | -1,049,490.78 | 4,689,580.44 | |||||||||
| Sub-total | 238,095,672.20 | -959,476.12 | 237,136,196.08 | |||||||||
| II.Associates | ||||||||||||
| ShenzhenWufangCeramicIndustryCo.,Ltd. | 18,983,614.14 | 18,983,614.14 | ||||||||||
| ChinaConstructionEngineeringCorporationGroupSmartParkingTechnologyCo.,Ltd. | 30,092,133.32 | 1,890,181.89 | 115,933.90 | 31,866,381.31 | ||||||||
| Sub-total | 30,092,133.32 | 18,983,614.14 | 1,890,181.89 | 115,933.90 | 31,866,381.31 | 18,983,614.14 | ||||||
| Total | 268,187,805.52 | 18,983,614.14 | 930,705.77 | 115,933.90 | 269,002,577.39 | 18,983,614.14 | ||||||
Therecoverableamountisdeterminedatthenetamountofthefairvalueminusthedisposalexpenses
□Applicable?Notapplicable
Therecoverableamountisdeterminedbasedonthepresentvalueoftheestimatedfuturecashflows
□Applicable?NotapplicableReasonsfortheobviousinconsistencybetweentheaboveinformationandtheinformationusedinpreviousimpairmenttestorexternalinformationReasonsforthedifferencebetweentheinformationusedintheimpairmenttestoftheCompanyinpreviousyearsandtheactualsituationofthecurrentyear
(3)Othernotes
4.Operatingrevenueandoperatingcosts
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod | ||
| Revenue | Cost | Revenue | Cost | |
| Primarybusiness | 54,002,297.50 | 38,163,396.02 | 46,400,327.60 | 47,304,177.17 |
| Otherbusiness | 18,347,996.27 | 0.00 | 17,813,588.70 | 0.00 |
| Total | 72,350,293.77 | 38,163,396.02 | 64,213,916.30 | 47,304,177.17 |
Breakdownofoperatingrevenueandoperatingcosts:
Unit:RMB
| Contractclassification | Division1 | Division2 | Total | |||||
| Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | |
| Businesstype | ||||||||
| Including: | ||||||||
| Realestatebusiness | 11,301,541.31 | -5,899,260.17 | 11,301,541.31 | -5,899,260.17 | ||||
| Assetoperation | 61,048,752.46 | 44,062,656.19 | 61,048,752.46 | 44,062,656.19 | ||||
| Classificationbybusinessarea | ||||||||
| Including: | ||||||||
| Shenzhen | 72,350,293.77 | 38,163,396.02 | 72,350,293.77 | 38,163,396.02 | ||||
| Marketorcustomertype | ||||||||
| Including: | ||||||||
Contracttype
| Contracttype |
| Including: |
Classificationbytimeofcommoditytransfer
| Classificationbytimeofcommoditytransfer |
| Including: |
Classificationbycontractperiod
| Classificationbycontractperiod |
| Including: |
| Contractclassification | Division1 | Division2 | Total | |||||
| Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | Operatingrevenue | Operatingcosts | |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
| Total | 72,350,293.77 | 38,163,396.02 | 72,350,293.77 | 38,163,396.02 |
Informationrelatedtoperformanceobligations:
| Item | Timetofulfillperformanceobligations | Importantpaymentterms | NatureofthegoodstheCompanyundertakestotransfer | Whetheritisthemainresponsibleperson | AmountsassumedbytheCompanythatareexpectedtoberefundedtocustomers | TypesofqualityassuranceprovidedbytheCompanyandrelatedobligations |
OtherexplanationsInformationrelatedtothetransactionpricesallocatedtotheremainingperformanceobligations:
TheamountofrevenuecorrespondingtotheperformanceobligationsofcontractsthathavebeensignedbutnotperformedornotfullyperformedyetattheendofthereportingperiodisRMB221,776.20,ofwhichRMB221,776.20isexpectedtoberecognizedasrevenuein2026.Majorcontractchangeormajortransactionpricesadjustmentofparentcompany
Unit:RMB
| Item | Accountingtreatments | Amountofimpactonrevenue |
Otherexplanations:
5.Investmentincome
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Incomefromlong-termequityinvestmentsundercostmethod | 2,893,024,114.88 | |
| Long-termequityinvestmentincomecalculatedundertheequitymethod | 930,705.77 | 184,223,509.99 |
| Total | 2,893,954,820.65 | 184,223,509.99 |
6.Others
20.Supplementaryinformation
1.Breakdownofcurrentnon-recurringprofitorloss??Applicable?Notapplicable
Unit:RMB
| Item | Amount | Notes |
| Profitorlossfromdisposalofnon-currentassets | 38,538,640.97 | Mainlyduetothedisposalofinvestmentproperties |
| Governmentsubsidiesincludedinthecurrentprofitorloss(exceptforthosethatarecloselyrelatedtotheCompany'snormalbusinessoperations,complywithnationalpoliciesandregulations,areenjoyedaccordingtodeterminedstandards,andhaveasustainedimpactontheCompany'sprofitorloss) | 10,813,006.40 | Mainlyduetotheone-offgovernmentsubsidiesreceived |
| Profitorlossfromchangesinfairvalueoffinancialassetsandliabilitiesheldbynon-financialenterprisesandprofitorlossfromthedisposaloffinancialassetsandfinancialliabilities,exceptforeffectivehedgingoperationsrelatedtotheCompany'snormalbusinessoperations | 1,765,714.20 | Mainlyduetothechangesinthefairvalueofmoneymarketfunds |
| Non-operatingrevenueandexpensesotherthantheabove-mentioneditems | 14,008,622.89 | Mainlyduetotheforfeiteddeposits |
| Otheritemsofprofitorlosssubjecttothedefinitionofnon-recurringprofitorloss | -80,226.78 | MainlyduetotheadjustmentforadditionalVATdeductions |
| Less:incometaxeffects | 16,242,730.99 | |
| Affectedamountofminorityinterests(aftertax) | 2,531,561.72 | |
| Total | 46,271,464.97 | -- |
Specificcircumstancesofotherprofitorlossitemsthatmeetthedefinitionofnon-recurringprofitorloss:
□Applicable?NotapplicableTheCompanyhadnospecificprofitorlossitemsthatmeetthedefinitionofnon-recurringprofitorloss.Notesonthedefinitionofthenon-recurringprofitorlossitemslistedinthe"InterpretiveAnnouncementNo.1onInformationDisclosureofCompaniesIssuingSecuritiestothePublic-Non-recurringProfitorLoss"asrecurringprofitorlossitems
□Applicable?Notapplicable
2.Returnonnetassetsandearningspershare
| Profitinthereportingperiod | Weightedaveragerateofreturnonnetassets | Earningspershare | |
| Basicearningspershare(RMB/share) | Dilutedearningspershare(RMB/share) | ||
| NetprofitattributabletoordinaryshareholdersoftheCOOEC | 1.00% | 0.0569 | 0.0569 |
| NetprofitsattributabletoordinaryshareholdersoftheCOOECafterdeductingnon-recurringprofitorloss | -0.37% | -0.0208 | -0.0208 |
3.Differencesbetweenaccountingdataunderdomesticandforeignaccountingstandards
(1)DifferencesinnetprofitsandnetassetsbetweenthefinancialreportsdisclosedinaccordancewiththeInternationalFinancialReportingStandards(IFRS)andthePRCGenerallyAcceptedAccountingPrinciples(GAAP)
□Applicable?Notapplicable
(2)DifferencesinnetprofitsandnetassetsbetweenthefinancialreportsdisclosedinaccordancewiththeoverseasfinancialreportingstandardsandthePRCGAAP
□Applicable?Notapplicable
(3)Explanationsofthereasonsfordifferencesbetweenaccountingdataunderdomesticandforeignaccountingstandards.Ifadjustmentshavebeenmadetothedifferencesindataauditedbyanoverseasauditingfirm,thenameofthesaidoverseasinstitutionshallbespecified.
4.OthersNotapplicable