StockCode:000029,200029StockName:SPG,SPG-BAnnouncementNo.:2025-029
SHENZHENSPECIALECONOMICZONEREALESTATE
&PROPERTIES(GROUP)CO.,LTD.THIRDQUARTERLYREPORT2025
ShenzhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.(hereinafterreferredtoasthe“Company”)andallthemembersoftheCompany’sBoardofDirectorsherebyguaranteethatthecontentsofthisReportaretrue,accurateandcompleteandfreeofanymisrepresentations,misleadingstatementsormaterialomissions.
ImportantNotes:
1.TheBoardofDirectors,theSupervisoryCommitteeaswellasthedirectors,supervisorsandseniormanagementoftheCompanyherebyguaranteethatthecontentsofthisReportaretrue,accurateandcompleteandfreeofanymisrepresentations,misleadingstatementsormaterialomissions,andcollectivelyandindividuallyacceptlegalresponsibilityforsuchcontents.
2.TheCompany’slegalrepresentative,ChiefFinancialOfficer,andheadoftheCompany’sfinancialdepartment(equivalenttofinancialmanager)herebyguaranteethatthefinancialstatementscarriedinthisReportaretrue,accurateandcomplete.
3.IndicatewhetherthefinancialstatementsinthisReporthavebeenauditedbyanindependentauditor.
□Yes?NoThisReporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.
IKeyFinancialInformation
(I)KeyAccountingDataandFinancialIndicatorsIndicatewhetherthereisanyretrospectivelyrestateddatuminthetablebelow.□Yes?No
| Q32025 | YoYchange(%) | Q1-Q32025 | YoYchange(%) | |
| Operatingrevenue(RMB) | 261,486,861.10 | 253.33% | 898,853,082.45 | 331.66% |
| Netprofitattributabletothelistedcompany’sshareholders(RMB) | 42,090,029.10 | 7,066.86% | 145,117,675.52 | 2,791.57% |
| Netprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlosses(RMB) | 37,588,629.07 | 754.43% | 131,941,117.04 | 1,305.95% |
| Netcashgeneratedfrom/usedinoperatingactivities(RMB) | — | — | -92,004,446.37 | 33.16% |
| Basicearningspershare(RMB/share) | 0.0416 | 7,033.33% | 0.1434 | 2,768.00% |
| Dilutedearningspershare(RMB/share) | 0.0416 | 7,033.33% | 0.1434 | 2,768.00% |
| Weightedaveragereturnonequity(%) | 1.16% | 1.18% | 4.04% | 3.90% |
| 30September2025 | 31December2024 | Change(%) | ||
| Totalassets(RMB) | 5,210,649,236.93 | 5,987,780,656.67 | -12.98% | |
| Equityattributabletothelistedcompany’sshareholders(RMB) | 3,663,368,226.57 | 3,512,112,493.42 | 4.31% | |
(II)ExceptionalGainsandLosses
?Applicable□Notapplicable
Unit:RMB
| Item | Q32025 | Q1-Q32025 | Note |
| Gainsandlossesoninvestmentorassetmanagemententrustmentstootherentities | 3,856,763.39 | 12,519,151.89 | Gainsonchangesinfairvaluearisingfrominvestingmonetaryfunds |
| Non-operatingincomeandexpenseotherthantheabove | 859,515.52 | 878,012.12 | |
| Less:Incometaxeffects | 214,878.88 | 219,503.03 | |
| Non-controllinginterestseffects(netoftax) | 1,102.50 | ||
| Total | 4,501,400.03 | 13,176,558.48 | -- |
Otheritemsthatmeetthedefinitionofexceptionalgain/loss:
□Applicable?NotapplicableNosuchcasesintheReportingPeriod.ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems:
?Applicable□Notapplicable
| Item | Amountinvolved(RMB) | Reason |
| Returnofhandlingfeeforpersonalincometaxwithheld | 31,652.46 | Thisitemisrecognizedasarecurrentgainorlossbecauseitoccursconsistentlyfromyeartoyearandisnotepisodicinnature |
(III)ChangesinKeyFinancialStatementLineItemsandExplanationofwhy
?Applicable□NotapplicableOperatingrevenue,netprofitattributabletothelistedcompany’sshareholders,andnetprofitattributabletothelistedcompany’sshareholdersbeforeexceptionalgainsandlossesofQ1-Q32025rose331.66%,2,791.57%and1,305.95%,respectively,onaYoYbasis,primarilydrivenbytheYoYincreaseinpropertysalesrevenueintheReportingPeriod.NetcashgeneratedfromoperatingactivitiesofQ1-Q32025rose33.16%YoY,primarilydrivenbytheYoYdecreaseinengineeringpaymentsinthecurrentperiod.IIShareholderInformation
(I)NumbersofOrdinaryShareholdersandPreferenceShareholderswithResumedVotingRightsaswellasHoldingsofTop10Shareholders
Unit:share
| Numberofordinaryshareholdersattheperiod-end | 38,419 | Numberofpreferenceshareholderswithresumedvotingrightsattheperiod-end(ifany) | 0 | ||||
| Top10shareholders(exclusiveofshareslentinrefinancing) | |||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage | Totalsharesheld | Restrictedsharesheld | Sharesinpledge,markedorfrozen | ||
| Status | Shares | ||||||
| ShenzhenInvestmentHoldingsCo.,Ltd. | State-ownedcorporation | 55.78% | 564,353,838 | 0 | N/A | 0 | |
| ShenzhenState-OwnedEquityOperationandManagementCo.,Ltd. | Domesticnon-state-ownedlegalperson | 6.35% | 64,288,426 | 0 | N/A | 0 | |
| YangJianmin | Domesticnaturalperson | 1.30% | 13,102,317 | 0 | Inpledge | 4,840,000 | |
| HongKongSecuritiesClearingCompanyLtd. | Overseaslegalperson | 0.69% | 6,935,118 | 0 | N/A | 0 | |
| WangYulan | Domesticnaturalperson | 0.62% | 6,228,591 | 0 | N/A | 0 | |
| ZhangXiujuan | Domesticnaturalperson | 0.48% | 4,829,700 | 0 | N/A | 0 | |
| HeQiao | Domesticnaturalperson | 0.39% | 3,968,100 | 0 | N/A | 0 | |
| IndustrialandCommercialBankofChinaLimited－SouthernChinaSecuritiesFullIndexRealEstateTradingOpen-endedIndexSecuritiesInvestmentFund | Other | 0.33% | 3,384,304 | 0 | N/A | 0 | |
| WangJinghua | Domesticnaturalperson | 0.32% | 3,200,000 | 0 | N/A | 0 | |
| WangZhengying | Domesticnaturalperson | 0.29% | 2,961,900 | 0 | N/A | 0 | |
| Top10unrestrictedshareholders(exclusiveofshareslentinrefinancingandlockedsharesofseniormanagement) | |||||||
| Nameofshareholder | Unrestrictedsharesheld | Sharesbytypeandnumber | |||||
| Type | Shares | ||||||
| ShenzhenInvestmentHoldingsCo.,Ltd. | 564,353,838 | RMB-denominatedordinarystock | 564,353,838 | ||||
| ShenzhenState-OwnedEquityOperationand | 64,288,426 | RMB-denominated | 64,288,426 | ||||
| ManagementCo.,Ltd. | ordinarystock | |||
| YangJianmin | 13,102,317 | RMB-denominatedordinarystock | 13,102,317 | |
| HongKongSecuritiesClearingCompanyLtd. | 6,935,118 | RMB-denominatedordinarystock | 6,935,118 | |
| WangYulan | 6,228,591 | RMB-denominatedordinarystock | 6,228,591 | |
| ZhangXiujuan | 4,829,700 | RMB-denominatedordinarystock | 4,829,700 | |
| HeQiao | 3,968,100 | RMB-denominatedordinarystock | 3,805,700 | |
| Domesticallylistedforeignstock | 162,400 | |||
| IndustrialandCommercialBankofChinaLimited－SouthernChinaSecuritiesFullIndexRealEstateTradingOpen-endedIndexSecuritiesInvestmentFund | 3,384,304 | RMB-denominatedordinarystock | 3,384,304 | |
| WangJinghua | 3,200,000 | Domesticallylistedforeignstock | 3,200,000 | |
| WangZhengying | 2,961,900 | RMB-denominatedordinarystock | 2,961,900 | |
| Relatedoracting-in-concertpartiesamongtheshareholdersabove | Amongthetop10unrestrictedshareholdersoftheCompany,ShenzhenState-OwnedEquityOperationandManagementCo.,Ltd.isthewholly-ownedsubsidiaryofShenzhenInvestmentHoldingsCo.,Ltd.TheCompanydoesnotknowwhetherthereexistsrelated-partyrelationshipamongtheothershareholders,orwhethertheyarepersonsactinginconcertasprescribedintheAdministrativeMeasuresfortheAcquisitionofListedCompanies. | |||
| Top10shareholdersengagedinsecuritiesmargintrading(ifany) | Amongthetop10shareholders,thethirdshareholderholds7,304,200sharesoftheCompanyincreditsecurityaccount;thesixthshareholderholds4,760,400sharesoftheCompanyincreditsecurityaccount;theseventhshareholderholds3,255,700sharesoftheCompanyincreditsecurityaccount;the10thshareholdersholds2,961,900sharesoftheCompanyincreditsecurityaccount. | |||
5%orgreatershareholders,top10shareholdersandTop10unrestrictedshareholdersinvolvedinrefinancingshareslending
□Applicable?NotapplicableChangesintop10shareholdersandtop10unrestrictedshareholdersduetorefinancingshareslending/returncomparedwiththepriorperiod
□Applicable?Notapplicable
(II)NumberofPreferenceShareholdersandShareholdingsofTop10ofThem
□Applicable?Notapplicable
IIIOtherSignificantEvents
□Applicable?Notapplicable
IVQuarterlyFinancialStatements
(I)FinancialStatements
1.ConsolidatedBalanceSheet
PreparedbyShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.
30September2025
Unit:RMB
| Item | 30September2025 | 1January2025 |
| Currentassets: | ||
| Monetaryassets | 291,903,349.75 | 529,242,725.36 |
| Settlementreserve | 0.00 | 0.00 |
| Loanstootherbanksandfinancialinstitutions | 0.00 | 0.00 |
| Held-for-tradingfinancialassets | 1,110,321,090.40 | 987,801,938.51 |
| Derivativefinancialassets | 0.00 | 0.00 |
| Notesreceivable | 0.00 | 100,000.00 |
| Accountsreceivable | 39,664,143.03 | 56,672,795.52 |
| Receivablesfinancing | 0.00 | 0.00 |
| Prepayments | 122,271.51 | 1,201,106.21 |
| Premiumsreceivable | 0.00 | 0.00 |
| Reinsurancereceivables | 0.00 | 0.00 |
| Receivablereinsurancecontractreserve | 0.00 | 0.00 |
| Otherreceivables | 16,838,553.64 | 7,438,040.83 |
| Including:Interestreceivable | 0.00 | 0.00 |
| Dividendsreceivable | 0.00 | 0.00 |
| Financialassetspurchasedunderresaleagreements | 0.00 | 0.00 |
| Inventories | 3,013,572,766.72 | 3,636,840,229.34 |
| Including:Dataresource | 0.00 | 0.00 |
| Contractassets | 29,508,131.21 | 30,888,723.09 |
| Assetsheldforsale | 0.00 | 0.00 |
| Currentportionofnon-currentassets | 0.00 | 0.00 |
| Othercurrentassets | 113,146,868.08 | 154,192,023.86 |
| Totalcurrentassets | 4,615,077,174.34 | 5,404,377,582.72 |
| Non-currentassets: | ||
| Loansandadvancestocustomers | 0.00 | 0.00 |
| Debtinvestments | 0.00 | 0.00 |
| Otherdebtinvestments | 0.00 | 0.00 |
| Long-termreceivables | 0.00 | 0.00 |
| Long-termequityinvestments | 0.00 | 0.00 |
| Investmentsinotherequityinstruments | 14,282,790.17 | 14,697,341.18 |
| Othernon-currentfinancialassets | 0.00 | 0.00 |
| Investmentproperty | 529,481,518.99 | 515,925,116.54 |
| Fixedassets | 15,719,579.37 | 17,489,207.57 |
| Constructioninprogress | 0.00 | 0.00 |
| Productivelivingassets | 0.00 | 0.00 |
| Oilandgasassets | 0.00 | 0.00 |
| Right-of-useassets | 0.00 | 0.00 |
| Intangibleassets | 0.00 | 0.00 |
| Including:Dataresource | 0.00 | 0.00 |
| Developmentcosts | 0.00 | 0.00 |
| Including:Dataresource | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 |
| Long-termprepaidexpense | 2,024,133.45 | 1,719,911.72 |
| Deferredincometaxassets | 34,007,876.06 | 33,571,496.94 |
| Othernon-currentassets | 56,164.55 | 0.00 |
| Totalnon-currentassets | 595,572,062.59 | 583,403,073.95 |
| Totalassets | 5,210,649,236.93 | 5,987,780,656.67 |
| Currentliabilities: | ||
| Short-termborrowings | 300,000.00 | 1,563,000.00 |
| Borrowingsfromthecentralbank | 0.00 | 0.00 |
| Loansfromotherbanksandfinancialinstitutions | 0.00 | 0.00 |
| Held-for-tradingfinancialliabilities | 0.00 | 0.00 |
| Derivativefinancialliabilities | 0.00 | 0.00 |
| Notespayable | 0.00 | 0.00 |
| Accountspayable | 420,660,422.04 | 464,488,982.30 |
| Advancesfromcustomers | 2,629,106.88 | 1,398,988.78 |
| Contractliabilities | 539,212,683.90 | 1,298,146,232.35 |
| Financialassetssoldunderrepurchaseagreements | 0.00 | 0.00 |
| Customerdepositsanddepositsfromotherbanksandfinancialinstitutions | 0.00 | 0.00 |
| Payablesforactingtradingofsecurities | 0.00 | 0.00 |
| Payablesforunderwritingofsecurities | 0.00 | 0.00 |
| Employeebenefitspayable | 19,705,118.50 | 22,499,368.29 |
| Taxesandleviespayable | 30,763,563.02 | 27,554,810.01 |
| Otherpayables | 537,845,300.48 | 561,016,653.17 |
| Including:Interestpayable | 16,535,277.94 | 16,535,277.94 |
| Dividendspayable | 0.00 | 0.00 |
| Feesandcommissionspayable | 0.00 | 0.00 |
| Reinsurancepayables | 0.00 | 0.00 |
| Liabilitiesdirectlyassociatedwithassetsheldforsale | 0.00 | 0.00 |
| Currentportionofnon-currentliabilities | 125,173.20 | 33,888,347.83 |
| Othercurrentliabilities | 49,731,564.10 | 118,304,068.47 |
| Totalcurrentliabilities | 1,600,972,932.12 | 2,528,860,451.20 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | 0.00 | 0.00 |
| Long-termborrowings | 62,211,091.22 | 62,273,677.82 |
| Bondspayable | 0.00 | 0.00 |
| Including:Preferenceshares | 0.00 | 0.00 |
| Perpetualbonds | 0.00 | 0.00 |
| Leaseliabilities | 0.00 | 0.00 |
| Long-termpayables | 0.00 | 0.00 |
| Long-termemployeebenefitspayable | 0.00 | 0.00 |
| Provisions | 0.00 | 0.00 |
| Deferredincome | 0.00 | 0.00 |
| Deferredincometaxliabilities | 1,259,459.98 | 1,259,459.98 |
| Othernon-currentliabilities | 0.00 | 0.00 |
| Totalnon-currentliabilities | 63,470,551.20 | 63,533,137.80 |
| Totalliabilities | 1,664,443,483.32 | 2,592,393,589.00 |
| Owners’equity: | ||
| Sharecapital | 1,011,660,000.00 | 1,011,660,000.00 |
| Otherequityinstruments | 0.00 | 0.00 |
| Including:Preferenceshares | 0.00 | 0.00 |
| Perpetualbonds | 0.00 | 0.00 |
| Capitalreserves | 978,244,910.11 | 978,244,910.11 |
| Less:Treasurystock | 0.00 | 0.00 |
| Othercomprehensiveincome | 29,198,473.94 | 23,060,416.31 |
| Specificreserve | 0.00 | 0.00 |
| Surplusreserves | 275,253,729.26 | 275,253,729.26 |
| Generalreserve | 0.00 | 0.00 |
| Retainedearnings | 1,369,011,113.26 | 1,223,893,437.74 |
| TotalequityattributabletoownersoftheCompanyastheparent | 3,663,368,226.57 | 3,512,112,493.42 |
| Non-controllinginterests | -117,162,472.96 | -116,725,425.75 |
| Totalowners’equity | 3,546,205,753.61 | 3,395,387,067.67 |
| Totalliabilitiesandowners’equity | 5,210,649,236.93 | 5,987,780,656.67 |
Legalrepresentative:TangXiaopingChiefFinancialOfficer:WangJianfeiHeadofthefinancialdepartment:ZhouHongpu
2.ConsolidatedIncomeStatementforQ1~Q3
Unit:RMB
| Item | Q1~Q32025 | Q1~Q32024 |
| 1.Revenues | 898,853,082.45 | 208,232,198.00 |
| Including:Operatingrevenue | 898,853,082.45 | 208,232,198.00 |
| Interestrevenue | ||
| Insurancepremiumincome | 0.00 | 0.00 |
| Feeandcommissionincome | 0.00 | 0.00 |
| 2.Costsandexpenses | 734,218,069.37 | 221,606,819.35 |
| Including:Costofsales | 654,950,924.98 | 167,778,707.67 |
| Interestcosts | 0.00 | 0.00 |
| Feeandcommissionexpense | 0.00 | 0.00 |
| Surrenders | 0.00 | 0.00 |
| Netinsuranceclaimspaid | 0.00 | 0.00 |
| Netamountprovidedasinsurancecontractreserve | 0.00 | 0.00 |
| Expenditureonpolicydividends | 0.00 | 0.00 |
| Reinsurancepremiumexpense | 0.00 | 0.00 |
| Taxesandlevies | 19,023,665.27 | 10,691,316.88 |
| Sellingexpense | 16,861,749.62 | 8,652,895.76 |
| Administrativeexpense | 42,490,637.66 | 38,834,113.71 |
| R&Dexpense | 0.00 | 0.00 |
| Financecosts | 891,091.84 | -4,350,214.67 |
| Including:Interestcosts | 3,046,290.87 | 1,462,486.36 |
| Interestrevenue | 2,676,528.01 | 6,941,761.59 |
| Add:Otherincome | 31,652.46 | 83,011.12 |
| Returnoninvestment(“-”forloss) | 908,582.15 | 777,600.00 |
| Including:Shareofprofitorlossofjointventuresandassociates | 0.00 | 0.00 |
| Incomefromthederecognitionoffinancialassetsatamortizedcost(“-”forloss) | 0.00 | 0.00 |
| Exchangegain(“-”forloss) | 0.00 | 0.00 |
| Netgainonexposurehedges(“-”forloss) | 0.00 | 0.00 |
| Gainonchangesinfairvalue(“-”forloss) | 12,519,151.89 | 13,964,637.73 |
| Creditimpairmentloss(“-”forloss) | 0.00 | 187.93 |
| Assetimpairmentloss(“-”forloss) | 0.00 | 0.00 |
| Assetdisposalincome(“-”forloss) | 0.00 | 195,840.20 |
| 3.Operatingprofit(“-”forloss) | 178,094,399.58 | 1,646,655.63 |
| Add:Non-operatingincome | 915,344.49 | 2,413,776.71 |
| Less:Non-operatingexpense | 37,332.37 | 32,090.13 |
| 4.Grossprofit(“-”forloss) | 178,972,411.70 | 4,028,342.21 |
| Less:Incometaxexpense | 34,935,922.89 | -156,327.13 |
| 5.Netprofit(“-”fornetloss) | 144,036,488.81 | 4,184,669.34 |
| 5.1Byoperatingcontinuity | ||
| 5.1.1Netprofitfromcontinuingoperations(“-”fornetloss) | 144,036,488.81 | 4,184,669.34 |
| 5.1.2Netprofitfromdiscontinuedoperations(“-”fornetloss) | 0.00 | 0.00 |
| 5.2Byownership | ||
| 5.2.1NetprofitattributabletoownersoftheCompanyastheparent(“-”fornetloss) | 145,117,675.52 | 5,018,645.08 |
| 5.2.1Netprofitattributabletonon-controllinginterests(“-”fornetloss) | -1,081,186.71 | -833,975.74 |
| 6.Othercomprehensiveincome,netoftax | 6,782,197.13 | 5,497,188.46 |
| AttributabletoownersoftheCompanyastheparent | 6,138,057.63 | 5,089,843.62 |
| 6.1Itemsthatwillnotbereclassifiedtoprofitorloss | -414,551.01 | 1,002,040.22 |
| 6.1.1Changescausedbyremeasurementsondefinedbenefitschemes | 0.00 | 0.00 |
| 6.1.2Othercomprehensiveincomethatwillnotbereclassifiedtoprofitorlossundertheequitymethod | 0.00 | 0.00 |
| 6.1.3Changesinthefairvalueofinvestmentsinotherequityinstruments | -414,551.01 | 1,002,040.22 |
| 6.1.4Changesinthefairvaluearisingfromchangesinowncreditrisk | 0.00 | 0.00 |
| 6.1.5Other | 0.00 | 0.00 |
| 6.2Itemsthatwillbereclassifiedtoprofitorloss | 6,552,608.64 | 4,087,803.40 |
| 6.2.1Othercomprehensiveincomethatwillbereclassifiedtoprofitorlossundertheequitymethod | 0.00 | 0.00 |
| 6.2.2Changesinthefairvalueofotherdebtinvestments | 0.00 | 0.00 |
| 6.2.3Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | 0.00 | 0.00 |
| 6.2.4Creditimpairmentallowanceforotherdebtinvestments | 0.00 | 0.00 |
| 6.2.5Reserveforcashflowhedges | 0.00 | 0.00 |
| 6.2.6Differencesarisingfromthetranslationofforeigncurrency-denominatedfinancialstatements | 6,552,608.64 | 4,087,803.40 |
| 6.2.7Other | 0.00 | 0.00 |
| Attributabletonon-controllinginterests | 644,139.50 | 407,344.84 |
| 7.Totalcomprehensiveincome | 150,818,685.94 | 9,681,857.80 |
| 7.1AttributabletoownersoftheCompanyastheparent | 151,255,733.15 | 10,108,488.70 |
| 7.2Attributabletonon-controllinginterests | -437,047.21 | -426,630.90 |
| 8.Earningspershare | ||
| 8.1Basicearningspershare | 0.1434 | 0.005 |
| 8.2Dilutedearningspershare | 0.1434 | 0.005 |
Wherebusinesscombinationsundercommoncontroloccurredinthecurrentperiod,thenetprofitachievedbytheacquireesbeforethecombinationswasRMB0.00,withtheamountforthesameperiodoflastyearbeingRMB0.00.Legalrepresentative:TangXiaopingChiefFinancialOfficer:WangJianfeiHeadofthefinancialdepartment:ZhouHongpu
3.ConsolidatedCashFlowStatementforQ1~Q3
Unit:RMB
| Item | Q1~Q32025 | Q1~Q32024 |
| 1.Cashflowsfromoperatingactivities: | ||
| Proceedsfromsaleofcommoditiesandrenderingofservices | 167,441,360.80 | 326,336,098.63 |
| Netincreaseincustomerdepositsanddepositsfromotherbanksandfinancialinstitutions | 0.00 | 0.00 |
| Netincreaseinborrowingsfromthecentralbank | 0.00 | 0.00 |
| Netincreaseinloansfromotherfinancialinstitutions | 0.00 | 0.00 |
| Premiumsreceivedonoriginalinsurancecontracts | 0.00 | 0.00 |
| Netproceedsfromreinsurance | 0.00 | 0.00 |
| Netincreaseindepositsandinvestmentsofpolicyholders | 0.00 | 0.00 |
| Interest,feesandcommissionsreceived | 0.00 | 0.00 |
| Netincreaseinloansfromotherbanksandfinancialinstitutions | 0.00 | 0.00 |
| Netincreaseinproceedsfromrepurchasetransactions | 0.00 | 0.00 |
| Netproceedsfromactingtradingofsecurities | 0.00 | 0.00 |
| Taxandlevyrebates | 14,515,474.76 | 2,098,014.38 |
| Cashgeneratedfromotheroperatingactivities | 122,495,243.79 | 53,676,909.83 |
| Subtotalofcashgeneratedfromoperatingactivities | 304,452,079.35 | 382,111,022.84 |
| Paymentsforcommoditiesandservices | 101,041,701.51 | 280,592,715.45 |
| Netincreaseinloansandadvancestocustomers | 0.00 | 0.00 |
| Netincreaseindepositsinthecentralbankandotherbanksandfinancialinstitutions | 0.00 | 0.00 |
| Paymentsforclaimsonoriginalinsurancecontracts | 0.00 | 0.00 |
| Netincreaseinloanstootherbanksandfinancialinstitutions | 0.00 | 0.00 |
| Interest,feesandcommissionspaid | 0.00 | 0.00 |
| Policydividendspaid | 0.00 | 0.00 |
| Cashpaidtoandforemployees | 45,044,931.41 | 52,653,455.05 |
| Taxesandleviespaid | 77,559,045.18 | 97,068,843.94 |
| Cashusedinotheroperatingactivities | 172,810,847.62 | 89,448,043.11 |
| Subtotalofcashusedinoperatingactivities | 396,456,525.72 | 519,763,057.55 |
| Netcashgeneratedfrom/usedinoperatingactivities | -92,004,446.37 | -137,652,034.71 |
| 2.Cashflowsfrominvestingactivities: | ||
| Proceedsfromdisinvestment | 0.00 | 0.00 |
| Returnoninvestment | 908,582.15 | 777,600.00 |
| Netproceedsfromthedisposaloffixedassets,intangibleassetsandotherlong-livedassets | 0.00 | 0.00 |
| Netproceedsfromthedisposalofsubsidiariesandotherbusinessunits | 0.00 | 0.00 |
| Cashgeneratedfromotherinvestingactivities | 0.00 | 0.00 |
| Subtotalofcashgeneratedfrominvestingactivities | 908,582.15 | 777,600.00 |
| Paymentsfortheacquisitionoffixedassets,intangibleassetsandotherlong-livedassets | 500,391.16 | 73,853.52 |
| Paymentsforinvestments | 0.00 | 0.00 |
| Netincreaseinpledgedloansgranted | 0.00 | 0.00 |
| Netpaymentsfortheacquisitionofsubsidiariesandotherbusinessunits | 0.00 | 0.00 |
| Cashusedinotherinvestingactivities | 110,000,000.00 | 40,000,000.00 |
| Subtotalofcashusedininvestingactivities | 110,500,391.16 | 40,073,853.52 |
| Netcashgeneratedfrom/usedininvestingactivities | -109,591,809.01 | -39,296,253.52 |
| 3.Cashflowsfromfinancingactivities: | ||
| Capitalcontributionsreceived | 0.00 | 0.00 |
| Including:Capitalcontributionsbynon-controllingintereststosubsidiaries | 0.00 | 0.00 |
| Borrowingsreceived | 0.00 | 0.00 |
| Cashgeneratedfromotherfinancingactivities | 0.00 | 0.00 |
| Subtotalofcashgeneratedfromfinancingactivities | 0.00 | 0.00 |
| Repaymentofborrowings | 33,500,586.60 | 100,376,586.60 |
| Interestanddividendspaid | 1,955,924.21 | 4,606,753.86 |
| Including:Dividendspaidbysubsidiariestonon-controllinginterests | 0.00 | 0.00 |
| Cashusedinotherfinancingactivities | 0.00 | 0.00 |
| Subtotalofcashusedinfinancingactivities | 35,456,510.81 | 104,983,340.46 |
| Netcashgeneratedfrom/usedinfinancingactivities | -35,456,510.81 | -104,983,340.46 |
| 4.Effectofforeignexchangerateschangesoncashandcashequivalents | -65,120.99 | -84,495.03 |
| 5.Netincreaseincashandcashequivalents | -237,117,887.18 | -282,016,123.72 |
| Add:Cashandcashequivalents,beginningoftheperiod | 520,910,254.44 | 859,146,413.35 |
| 6.Cashandcashequivalents,endoftheperiod | 283,792,367.26 | 577,130,289.63 |
(II)AdjustmentstoFinancialStatementItemsattheBeginningoftheYearoftheFirstImplementationoftheNewAccountingStandardsImplementedsince2025
□Applicable?Notapplicable(III)IndependentAuditor’sReport
Indicatebytickmarkwhetherthefinancialstatementsabovehavebeenauditedbyanindependentauditor.□Yes?NoThesefinancialstatementshavenotbeenauditedbysuchanauditor.
BoardofDirectorsShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.
27October2025