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1、ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 20221SHENZHEN PROPERTIES&RESOURCES DEVELOPMENT(GROUP)LTD.INTERIM REPORT 2022（Announcement No.2022-36）August 2022ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 20222Part I Important Notes,Table of Contents and Defi

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

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

4、t(equivalent tofinancial manager)hereby guarantee that the Financial Statements carried in this Report arefactual,accurate and complete.All the Companys directors have attended the Board meeting for the review of this Reportand its summary.The Company is subject to the Guideline No.3 of the Shenzhen

5、 Stock Exchange onInformation Disclosure by Industryfor Listed Companies Engaging in Real Estate.The Company has described in detail in this Report the possible risks facing it,along withcountermeasures.Please refer to“X Risks Facing the Company and Countermeasures”in“Part III Management Discussion

6、andAnalysis”of this Report.The Company has no interim dividend plan,either in the form of cash or stock.This Report and its summary have been prepared in both Chinese and English.Should therebe any discrepancies or misunderstandings between the two versions,the Chinese versionsshall prevail.ShenZhen

7、 Properties&Resources Development(Group)Ltd.Interim Report 20223Table of ContentsPart I Important Notes,Table of Contents and Definitions.2Part II Corporate Information and Key Financial Information.6Part III Management Discussion andAnalysis.9Part IV Corporate Governance.29Part V Environmental and

8、Social Responsibility.31Part VI Significant Events.34Part VII Share Changes and Shareholder Information.45Part VIII Preferred Shares.49Part IX Bonds.50Part X Financial Statements.51ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 20224DocumentsAvailable for ReferenceI.The financial

9、 statements with the signatures and stamps of the Companys legal representative,head of financial affairs and head of the financial department;andII.The originals of all the Companys documents and announcements disclosed to the public vianewspapers designated by the CSRC in the Reporting Period.Shen

10、Zhen Properties&Resources Development(Group)Ltd.Interim Report 20225DefinitionsTermDefinitionThe“Company”,the“Group”,“SZPRD”or“we”ShenZhen Properties&Resources Development(Group)Ltd.and itsconsolidated subsidiaries,except where the context otherwise requiresSIHCShenzhen Investment Holdings Co.,Ltd.H

11、uangcheng Real EstateShenzhen Huangcheng Real Estate Co.,Ltd.Dongguan CompanyDongguan ITC Changsheng Real Estate Development Co.,Ltd.Xuzhou CompanySZPRD Xuzhou Dapeng Real Estate Development Co.,Ltd.Yangzhou CompanySZPRD Yangzhou Real Estate Development Co.,Ltd.Urban Renewal CompanyShenzhen Wuhe Urb

12、an Renewal Co.,Ltd.Rongyao Real EstateShenzhen Rongyao Real Estate Development Co.,Ltd.ITC Property ManagementShenzhen International Trade Center Property Management Co.,Ltd.ITC Technology ParkShenzhen ITC Technology Park Service Co.,Ltd.Guomaomei LifeShenzhen Guomaomei Life Service Co.,Ltd.Commerci

13、al Operation CompanyShenzhen SZPRD Commercial Operation Co.,Ltd.Guomao CateringShenzhen Guomao Catering Co.,Ltd.Supervision CompanyShenzhen Property Engineering and Construction Supervision Co.,Ltd.Wuhe CompanyShenzhen Wuhe Industry Investment Development Co.,Ltd.Shenzhen Property ManagementShenzhen

14、 Property Management Co.,Ltd.Foreign Trade Property ManagementShenzhen Foreign Trade Property Management Co.,Ltd.Shenfubao Property DevelopmentShenzhen Shenfubao Property Development Co.,Ltd.Hydropower CompanyShenzhen Shenfubao Hydropower Municipal Service Co.,Ltd.Security Service CompanyShenzhen Fr

15、ee Trade Zone Security Service Co.,Ltd.FMCShenzhen Facility Management Community Technology Co.,Ltd.Dongguan WuheDongguan Wuhe Real Estate Co.,Ltd.Guangming WuheShenzhen Guangming Wuhe Real Estate Co.,Ltd.Yangzhou WuheYangzhou Wuhe Real Estate Co.,Ltd.RMB,RMB0,000,RMB00,000,000Expressed in the Chine

16、se currency of Renminbi,expressed in tens ofthousands of Renminbi,expressed in hundreds of millions of RenminbiShenZhen Properties&Resources Development(Group)Ltd.Interim Report 20226Part II Corporate Information and Key Financial InformationI Corporate InformationStock namePRD,PRD-BStock code000011

17、,200011Changed stock name(if any)N/AStock exchange for stock listingShenzhen Stock ExchangeCompany name in Chinese深圳市物业发展(集团)股份有限公司Abbr.(if any)深物业集团Company name in English(ifany)ShenZhen Properties&Resources Development(Group)Ltd.Abbr.(if any)SZPRDLegal representativeLiu ShengxiangII Contact Inform

18、ationBoard SecretarySecurities RepresentativeNameZhang GejianDing Minghua and Chen QianyingAddress20/F,International Trade Center,Renmin SouthRoad,LuohuDistrict,Shenzhen,GuangdongProvince,P.R.China39/F,International Trade Center,Renmin SouthRoad,LuohuDistrict,Shenzhen,GuangdongProvince,P.R.ChinaTel.

19、55-82211020Fax 822120 82212043Email III Other Information1.Contact Information of the CompanyIndicate by tick mark whether any change occurred to the registered address,office address and their zip codes,website addressand email address of the Company in th

20、e Reporting Period.Applicable Not applicableNo change occurred to the said information in the Reporting Period,which can be found in the 2021 Annual Report.2.Media for Information Disclosure and Place where this Report is KeptIndicate by tick mark whether any change occurred to the information discl

21、osure media and the place for keeping the Companysperiodic reports in the Reporting Period.Applicable Not applicableThe newspapers designated by the Company for information disclosure,the website designated by the CSRC for disclosing theCompanys periodic reports and the place for keeping such report

22、s did not change in the Reporting Period.The said informationcan be found in the 2021Annual Report.ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202273.Other InformationIndicate by tick mark whether any change occurred to other information in the Reporting Period.Applicable Not

23、applicableIV Key Financial InformationIndicate by tick mark whether there is any retrospectively restated datum in the table below.Yes NoReason for retrospective restatement:Business combination involving entities under common control.H1 2022H1 2021Change(%)BeforeRestatedRestatedOperating revenue(RM

24、B)1,988,299,840.242,540,865,139.252,706,785,638.30-26.54%Net profit attributable to the listedcompanys shareholders(RMB)250,802,157.71676,375,523.75677,467,066.42-62.98%Net profit attributable to the listedcompanysshareholdersbeforeexceptional gains and losses(RMB)256,650,611.05669,858,491.21669,197

25、,895.76-61.65%Netcashgeneratedfrom/usedinoperating activities(RMB)-395,994,231.091,137,570,780.731,141,561,301.92-134.69%Basic earnings per share(RMB/share)0.42081.13491.1367-62.98%Diluted earnings per share(RMB/share)0.42081.13491.1367-62.98%Weighted average return on equity(%)5.40%16.98%16.50%-11.

26、10%30 June 202231 December 2021Change(%)BeforeRestatedRestatedTotal assets(RMB)15,166,310,790.8114,581,897,151.7614,828,989,745.602.27%Equityattributabletothelistedcompanys shareholders(RMB)4,137,968,023.074,486,110,790.394,583,266,959.57-9.72%V Accounting Data Differences under Chinas Accounting St

27、andards for BusinessEnterprises(CAS)and International Financial Reporting Standards(IFRS)and ForeignAccounting Standards1.Net Profit and Equity Differences under CAS and IFRSApplicable Not applicableNo such differences for the Reporting Period.2.Net Profit and Equity Differences under CAS and Foreig

28、n Accounting StandardsApplicable Not applicableNo such differences for the Reporting Period.VI Exceptional Gains and Losses Applicable Not applicableShenZhen Properties&Resources Development(Group)Ltd.Interim Report 20228Unit:RMBItemAmountNoteGain or loss on disposal of non-current assets(inclusive

29、of impairmentallowance write-offs)-41,452.49Government subsidies through profit or loss(exclusive of governmentsubsidies consistently given in the Companys ordinary course ofbusiness at fixed quotas or amounts as per governmental policies orstandards)1,115,174.40Job retention and trainingsubsidy and

30、 anti-pandemicsubsidy receivedCapital occupation charges on non-financial enterprises that are throughprofit or loss-100,594.95Current profit or loss on subsidiaries obtained in business combinationsinvolving entities under common control from the period-beginning tocombination dates,net-6,933,601.3

31、4Non-operating income and expense other than the above1,128,481.62Penalty,confiscatory andliquidated damages incomeLess:Income tax effects554,987.92Non-controlling interests effects(net of tax)461,472.66Total-5,848,453.34Particulars about other gains and losses that meet the definition of exceptiona

32、l gain/loss:Applicable Not applicableNo such cases for the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory AnnouncementNo.1 on Information Disclosure for Companies Offering Their Securities to the PublicExceptional Gai

33、n/Loss Items:Applicable Not applicableNo such cases for the Reporting Period.ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 20229Part III Management Discussion andAnalysisI Principal Activity of the Company in the Reporting Period(I)Core Business OverviewEstablished in 1982,the C

34、ompany was originally known as Luohu Engineering and Construction Headquarters and renamedShenzhen Municipal Property Development Corporation in August 1985.The Company was determined as the second batch ofpilot units for joint-stock reform of state-owned enterprises in 1988.Approved by the municipa

35、l government,the Company renamedto ShenZhen Properties&Resources Development(Group)Ltd.in 1990.The stock of the group company(stock name:SZPRD,A/B;stock code:000011,200011)was officially listed in Shenzhen Stock Exchange in March 1992.The Company contracted and built Shenzhen International Trade Cen

36、ter Building as Party A and created,planned,and organized theworld-famous Shenzhen Speed.The building was the place where Chairman Deng Xiaoping gave talks in his inspection to thesouth.SZPRD came into being because of the building and has risen amid the Reform and Opening up campaign.Emerging andgr

37、owing together with Shenzhen,a city of miracles,the Company has been“a loyal practitioner of the spirit of the ox”and overcomedifficulties in proposing new services in the new era.In the past four decades of trials and hardships,generations of SZPRDemployees have manifested the enterprise spirit of

38、going ahead and reforming and centered on the functional positioning as stateassets of serving national economic and social development,the city,the industry,and the people.The Company has adhered to theoriginal aspiration and striven ahead to be a pioneer.Therefore,it has made remarkable achievemen

39、ts in development speed andquality.So far,the Company has grown into a large comprehensive industrial group from the project company that built ShenzhenInternational Trade Center Building.In the new era,the Company sizes up the situation,seizes the momentum and forges aheadtoward the goal and vision

40、 of becoming a leading smart operator of industry-city space in China.2022 is a key year to carry on with the Groups 14th Five-Year Plan.During the Reporting Period,facing the abrupt COVID-19 anddeep regulation and control in real estate,the Company faced up to the difficulties and continued to make

41、 efforts in four businesssectors,including industry-city space development,property management services,industrial ecosystem operation,and mainbusiness ecosystem investment in its main business.The Company endeavored to further consolidate and highlight its advantages ofindustry-city integration and

42、 the whole industry chain through expanding the main business and making breakthroughs in otherbusinesses.1.Industrial&urban space developmentIn terms of the space development segment,the Company is specialized in developing the residence,the hi-end apartment,the officebuilding,and the industrial pa

43、rk and has developed a batch of brand projects,including Shenzhen International Trade CenterBuilding,Huanggang Port,Tianan International Building,Qianhai Gangwan Garden,and Golden Collar Holiday.Based on itspresent real estate development business,the Company will improve its existing portfolio and

44、plan for new businesses.It will engagea number of subsidiaries in property development and urban renewals,including Huangcheng Real Estate,Rongyao Real Estate,theUrban Renewal Company,Dongguan Wuhe,Xuzhou Company,and Yangzhou Company,strengthen capital operation via the listingplatform,and make a re

45、asonable layout of the city space development segment.In the Reporting Period,SZPRD made multipleefforts for this segment.For instance,it steadily advanced the existing development projects inside and outside Shenzhen,acceleratedthe sales of existing projects,and sped up cash inflow.Moreover,it focu

46、sed on the development and construction of industry-citycomplexes and accelerated to create an integrated and co-existing model for the development of boutique urban residences and high-end industry space.2.Property management servicesThe Companys property management segment takes ITC Property Manag

47、ement as its platform.As Chinas first batch of first-classqualified enterprises in property management,ITC Property Management,after more than 30 years of development,has become adomestic first-class property service provider with diversified business capabilities and technological strength,and has

48、been awardedShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202210Top 100 National Property Management Enterprises and Excellent Enterprise of Property Management in Chinas IndustrialParks for many years in a row.The projects under its management are all over the country,and its b

49、usiness radiates to variousregions in China,such as South China,Southwest China,East China and North China,as well as the China-Vietnam CooperationZone in Vietnam.The Companys existing business has covered industrial parks,cultural tourism scenic spots,government agencies,rail transportation,housing

50、,hospitals,schools,hotels and other various business models,and is planning to develop the business ofgrassroots social governance.The Company collaborated with the government to create a safe,harmonious,civilized and orderlyurban environment,basically forming a pattern of integrated development of

51、multiple business models.There are more than 20subsidiaries under ITC Property Management,and with the functional departments of the headquarters as the platform,it has activelybuilt three centers of market,empowerment and supervision,and formed three business centers and profit centers of specializ

52、edbusiness model companies,specialized companies and companies in other regions,so as to continuously and effectively realize thenew pattern of coordinated development of 1+12.3.Industrial ecosystem operationWith respect to the industrial ecosystem operation segment,the Company gave full play to its

53、 foundation in the three basic industries,namely,real estate development,property management,and leasing and the advantage of the whole industry chain,focused on thetwo major strategies of“value-added operation of existing assets”and“light-asset operation output”,and deepened internal andexternal st

54、rategic cooperation.It is committed to creating a closed loop of the whole industrial ecosystem,covering projectdevelopment services,park operation services,and supporting rental operations,and keeping improving the space service and rentalecosystem in the industrial park.A unique and mature busines

55、s development model has been put in place with the capability andexperience of the whole chain of planning,dismantling,construction control,business invitation,operation,and on-site managementwith respect to various assets.The Company is expediting the stock taking and assessment of its properties i

56、n stock and strengtheningthe management over them.In the future,it will gradually expand the scope of leasing and raise the development capability ofproperty rental.Moreover,the Company gradually shifts the focus of industrial ecosystem operation to sci-tech parks,providessupporting services coverin

57、g the whole value chain,such as the import of industrial ecosystem,project development services,andpark operation services,and serves the role of space service provider centering on sci-tech parks.4.Other businessIn the Reporting Period,the Companys businesses also included catering service and proj

58、ect supervision service.The cateringservice is operated by Shenzhen Guomao Catering Co.,Ltd.Guomao Catering Co.,Ltd.,established in 1986,became famous athome and abroad,as it was the place where President Deng Xiaoping gave talks during his inspection to the south in 1992.Since itsestablishment,it h

59、as received more than 600 country leaders,famous people,and numerous domestic and overseas guests,with itsreputation spreading all over the world.The project supervision service is handled by the subordinated supervision company of theGroup.The company has the Grade A supervision qualification of bu

60、ilding works of the Ministry of Housing and Urban-RuralDevelopment(MOHURD).It was originally known as Shenzhen Property Engineering Management Department,and takes part inthe construction and management work of Shenzhen International Trade Center Building.It is a witness of the whole process ofShenz

61、hen speed,and mainly serves for the development project of the Group.(II)Industry Development Progress1.Real estate industryIn the first half of 2022,the macro-economic operation continued the development trend of overall stability and steady progress.Specifically,significant potential was seen in d

62、emand recovery,production rally was well supported and macro policies wellguaranteed,innovative development gained momentum for economic growth,peoples living standard and quality continued toimprove,and high-quality development was promoted by an increasing number of positive factors.Since 2021,rea

63、l estate regulationhas maintained the orientation that houses are for living in,not for speculation,and clearly upheld the principles of implementingcity-specific policies and supporting peoples demand for housing improvement.In January,the National Housing andConstruction Conference called for stic

64、king to the bottom line of zero systemic risk and fully releasing residents housing demands.In March,the Report on the Work of the Government for 2022 points out that we should continue to meet peoples housing needs,ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202211encourage b

65、oth housing rentals and purchases,move faster to develop the long-term rental market,promote the construction ofgovernment-subsidized housing,assist the commodity housing market in better meeting the reasonable housing needs of homebuyers,and keep land costs,housing prices and market expectations st

66、able,so as to facilitate the stable and healthy development ofthe real estate market.In April,the Central Bank and the Banking and Insurance Regulatory Commission indicated that they wouldprovide financial services for mergers and acquisitions of risk disposal projects by key real estate companies.I

67、n May,the PeoplesBank of China issued a notice to lower the interest rate floor for individual housing loans with a view to offering credit support tohome buyers.China Securities Regulatory Commission proposed to support the normal financing of real estate enterprises,allowhigh-quality real estate e

68、nterprises to further broaden the use of funds raised by bonds,and encourage high-quality real estateenterprises to issue corporate bonds for merger and acquisition of projects in the charge of real estate enterprises with any insuranceaccident.A series of measures adopted will be conductive to the

69、virtuous circulation and sound development of the real estateindustry.From the perspective of regional market,in the first half of 2022,Shenzhen experienced repeated outbreaks of COVID-19,inresponse to which the government introduced a number of measures to stabilize growth.In February,the Ministry

70、of Housing andUrban-Rural Development held a press conference in the theme of promoting high-quality development of housing and urban-ruralconstruction,indicating that it would strive to play a positive role in maintaining stable macroeconomic performance and continue tostrengthen the construction a

71、nd supply of public housing;in June,the four departments of Shenzhen jointly issued theImplementation Plan for Further Strengthening Financial Services to Support Epidemic Prevention and Control,PromoteEconomic Recovery,Meet Basic Living Needs and Stabilize Development,clarifying the need to further

72、 strengthen the mitigation ofrisks faced by real estate enterprises,optimize the conditions for withdrawal of advance sale supervision funds under the premise ofensuring delivery of buildings,and promote the virtuous circulation of enterprise funds.In the first half of 2022,the supply of housing in

73、Shenzhen new housing market was mainly concentrated in the second quarter.Affected by policies and the COVID-19 pandemic,the transaction volume of the new housing market decreased by 30%year on year,and the overall transaction volume was 1,657,500 square meters.In terms of land market,in the first h

74、alf of the year,Shenzhenlaunched a total of 35 land plots,with a total planned area of 5,648,000 square meters,including eight residential land plots with aplanned building area of 1,071,000 square meters,and five commercial land plots with a planned area of 205,000 square meters.Inthe first half of

75、 the year,the total transaction volume in building area was 3,554,000 square meters,with eight residential land plotsachieving the highest possible transaction price and the price limits on new housing raised,which sends a positive signal to themarket.In the face of changes in industry policies and

76、development trends,mainstream real estate enterprises are gradually making efforts indiversified business layouts.At present,mainstream real estate enterprises have already entered and formed stable industry pattern inmany relevant fields other than residential development and sales,such as property

77、 management,commercial property,long-termrental and logistics real estate.Additionally,sub-industries such as elderly care,education and agency construction have alsoachieved rapid development.The industry has accelerated its transformation from real estate to immovable property,graduallyshifting fr

78、om the scale-driven advantage formed by residential development and sales to the integration of development,operationand service.2.Property management industryIn recent years,driven by continued urbanization,consumption upgrade and encouraging policies,and overlaid with technologicalempowerment and

79、capital dividends,the property management industry has entered a period of rapid development.With the risingsocial status of the property management industry,in early 2022,the General Office of the State Council issued the Notice on theConstruction Plan for the Community Service System in Urban and

80、Rural Areas During the 14th Five-Year Plan Period,aiming toguide the market and social forces to develop services such as childcare and elder care in communities,and encourage thedevelopment of household services such as property management,maintenance,housekeeping,catering and retail in communities

81、,and encourage localities where conditions permit to introduce specialized property services,and establish and improve a two-wayselection mechanism between property owners and property service enterprises.Urban services are a new field in the propertyShenZhen Properties&Resources Development(Group)L

82、td.Interim Report 202212management industry this year.The revision of service standards related to urban environmental sanitation has provided relevantnorms and guidelines for the property management industry.Moreover,a series of measures adopted have created favorableconditions for the rapid growth

83、 and standardized development of the property management industry.Scale and boundary expansion remains the main theme in the development of the property management industry.In the first half of2022,there were nearly 20 merger and acquisition(M&A)cases in the property management industry,involving tr

84、ansaction amounttotaling RMB8 billion.The comparison with 2021 presents the following characteristics:First,M&As are more prudent overall,mainly focusing on the quality of M&A objects and strategic coordination and profitability.Second,state-owned enterprises becomemore active and play a dominant ro

85、le in the M&A market.Among the 20 M&A cases in the first half of the year,the M&Aentities offive ones are state-owned property companies with a disclosed transaction amount of approximately RMB4,314 million,accountingfor 53.9%of the total transaction amount.In the medium and long term,M&A will vigor

86、ously promote the further improvement ofindustry concentration,and property management companies with the developer background have more advantages in this regard.The property management enterprise listing boom continues,with three more property management enterprises entering the capitalmarket duri

87、ng January-April.As at 17 June 2022,a total of 59 property management enterprises were listed,including 55 on theMain Board of Hong Kong and four on the A-share,with a total market capitalization of over RMB1 trillion.Improving the level ofintelligence and building smart communities is still one of

88、the important directions for enterprise development.In the first half of theyear,major property management companies launched and upgraded their new intelligent property management systems toimplement integrated property management and provide services such as property notification,warranty,visitor

89、notification and lifepayment in a more convenient way.Some enterprises actively cooperated with Internet companies to explore the application of smarttechnology in property service scenarios and improve value-added services.(III)Operating Performance of the Company in the Reporting PeriodIn 2022,the

90、 Company closely focused on the implementation of the key work deployment formulated at the beginning of the year.In the first half of the year,all the Companys work was conducted in strict accordance with the principle of seeking progress instability,maintaining stability in progress,and promoting

91、progress in an innovative and prudent manner.The Real EstateCompany took expansion as the goal,and made efforts to seek a breakthrough in project expansion.The Property ManagementCompany took strategic transformation as the guide to enhance the empowerment value and brand value.The CommercialOperati

92、on Company aimed at improving quality and efficiency,and continued to innovate the operation and management mode,and each business segment has maintained a stable and healthy development trend.During the Reporting Period,the Companyachieved operating revenue of approximately RMB1.988 billion and a n

93、et profit attributable to the Company as the parent ofapproximately RMB251 million,and all other indicators such as expenses and total remunerations were under effective control.First,the industry-city space development segment maintained stable performance,with project construction being activelypr

94、omoted.In the first half of the year,the real estate business recorded operating revenue of RMB1,156 million,accounting for58.15%of the total revenue.During the Reporting Period,the real estate segment of the Company continued to strengthen thesynergy of nodal targets and resource guarantee to achie

95、ve a comprehensively accelerated turnover of projects under construction,fully coordinated the annual sales of the Golden Collar Holiday project,and advanced the sales,payment collection and finedecoration partnership of BuildingAin an orderly manner,providing a strong support for the growth of reve

96、nue and profit.Moreover,the Group,together with Yangzhou Lvfa Real Estate Co.,Ltd.,successfully won the first batch of plot(GZ342)for Yangzhou SlenderWest Lake Science and Technology Innovation City Project.Adhering to the market-oriented management concept,the Groupquickly carried out preparatory w

97、ork such as cooperation agreement drafting and tender invitation and determination;YutangshangfuProject of Shenzhen Guangming Wuhe Real Estate Co.,Ltd.(hereinafter referred to as Guangming Yutangshangfu Project)andDongguan Humen Project got started in the first quarter,and the overall progress there

98、of was orderly and controllable;FuchangPhase II Project,Humen Coastal Port Project and other projects are progressing in an orderly manner.Second,the property management segment grew steadily and continued to accelerate market expansion.In the first half of theyear,the property management business r

99、ecorded operating revenue of RMB778 million,accounting for 39.15%of the total revenue.The property management segment expanded totally 26 projects in the first half of the year,such as Linbangli and Kaiyuan BuildingShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202213projects,wit

100、h the expansion area totaling approximately 1,213,000 square meters.In order to implement the strategic layout ofinformatization,in the first half of the year,ITC Property Management completed such work as construction scheme drafting andcost investigation for its scientific and technological intell

101、igent digital platform system composed of an intelligent operationmanagement and control platform and a data middle office.Informatization projects of ITC Property Management such as theintegration and upgrade of the charging system and the construction of the intelligent parking management and cont

102、rol platform areall progressing in an orderly manner.Third,the industrial ecological operation and other segments improved quality and efficiency,and cultivated core operationalcapabilities.In the first half of the year,affected by the sluggish performance of external rental market and the short-ter

103、m impact ofthe outbreak of COVID-19,the rental operation business recorded operating revenue of RMB54 million.In active response to policycall,the Company implemented rental reduction and exemption for state-owned houses to relieve the operating pressure of customers,which fully demonstrates the mis

104、sion and responsibility of the Company as a state-owned enterprise.The Company took varioussteps to accelerate its transformation and upgrade,and explored such measures as establishing an incremental sharing mechanism andintensifying efforts on project expansion.Additionally,core operating capabilit

105、ies were cultivated in multiple paths,and thetransformation of the current pure rental business mode to a commercial operation mode was promoted,thereby boosting thedevelopment and growth of the industrial ecological operation segment.Moreover,the Company actively promoted the building ofthe key ind

106、ex system for the real estate segment,the informatization of intelligent construction site and the construction of theengineering quality and design management system.The supervision over relevant projects such as the Fuchang Phase II Project,Dongguan Humen Project and Guangming Yutangshangfu Projec

107、t was in orderly progress.Various work was carried out in strictaccordance with the standardized procedures for supervision and the Companys relevant requirements for internal control tosuccessfully complete the supervision of existing projects.(IV)Progress of key construction in progressThe Company

108、 is subject to the Guideline No.3 of the Shenzhen Stock Exchange on Information Disclosure by Industryfor ListedCompanies Engaging in Real Estate.1.New additions to the land bankName ofland lot orprojectLocationPlanneduse oflandSite area（）Floor areawith plotratio（）How theland isobtainedTheCompanys i

109、nterestTotal landprice(RMB0,000)Consideration of theCompanysinterest(RMB0,000)Land LotNo.GZ342inYangzhouCityPingshanVillage,HanjiangDistrict,YangzhouCityCommercial andresidential195,633305,187.48Openmarket67.00%83,535.2955,968.642.Cumulative land bankName of project/areaSite area（0,000）Floor area（0,

110、000）Floor area available fordevelopment（0,000）Baolu project3.248.168.16Land in Danshui,HuiyangDistrict,Huizhou City1.774.254.25Land in Hongqi Town,Haikou City15.8-Yangzhou Slender West LakeEcological Health ValleyProject19.5630.5230.52Total40.3742.9342.933.Development status of major projectsShenZhe

111、n Properties&Resources Development(Group)Ltd.Interim Report 202214City/regionNameofprojectLocationUsageTheCompanysinterestTimeforcommencementofconstruction%developed%thathascompletedconstructionSitearea（）Plannedfloor areawith plotratio（）Floorareathatcompletedconstruction intheCurrentPeriod（）Cumulati

112、ve floorarea thathascompletedconstruction（）Estimated totalinvestment(RMB0,000)Cumulativeinvestment(RMB0,000)ShenzhenGoldenCollarsResortapartmentsFutianDistrictResidential100%2014.03Completed100.00%12,598133,8000133,800138,311127,701ShenzhenFuhuiHuayuanFutianDistrictResidential100%2018.12Underconstru

113、ctionMainworkcompletion filing80%completed,andsamplerooms aregoingthroughfinedecoration4,27433,4300091,13370,902ShenzhenGuanlanBanglingLonghuaDistrictResidential,commercialapartmentsandindustrial69%2020.10Underconstruction94.66%demolished,PhaseII pilefoundation 30%completed andfoundation pitsupporti

114、ng andearthwork70%completed68,300433,64000694,150359,507ShenzhenProjectatYutangStreet,GuangmingDistrictGuangmingDistrictResidential100%2022.03UnderconstructionAllengineeringpilescompleted,andearthworksupporting50%completed14,90181,96000277,927168,532DongguanCityProjectinHumenTown,Dongguan cityHumenT

115、ownResidential100%2022.03UnderconstructionEarthworksupporting 60%completed,andpilefoundation 30%51,687113,71300344,908214,746ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202215completedXuzhouCityBanshanYujing(PhaseII)TongshanDistrictResidential100%2019.3Completed100%31,53722,79

116、522,79522,79524,70021,7174.Sales status of major projectsCity/regionNameofprojectLocationUsageTheCompanysinterestFloor areawith plotratio（）Floor areaavailablefor sale（）Cumulativepre-sold/soldfloor area（）Floorarea pre-sold/soldin theCurrentPeriod（）Pre-sale/salesrevenuegenerate in theCurrentPeriod(RMB

117、0,000)Cumulative settledfloor area()Floorareasettled intheCurrentPeriod（）Pre-sale/salesrevenuesettled intheCurrentPeriod(RMB0,000)ShenzhenGoldenCollarsResortapartmentsIntersection ofFutianSouthRoadandBinheRoad inFutianDistrictResidential,studioapartmentsandcommercial100%133,800.6125,231.07113,142.79

118、6,617.5158,325110,375.9910,015.3986,141.01DongguanCitySonghuLangyuanDalangTownResidential,commercial100%147,139.96140,911140,91100149,289.844839.37YangzhouCityHupanYujingPhase IIntersection ofShouxihu RoadandHangouRoadResidentialunits,shops,apartments,parkinggaragesandlots100%36,141.2848,870.9842,92

119、4.49101.623942,924.49101.6235.78YangzhouCityHupanYujingPhase IIIntersection ofShouxihu RoadandHangouRoadResidentialunits,shops,apartments,parkinggaragesandlots100%56,935.7573,121.9670,012.81,678.832,465.6969,993.691,678.832,262.105.Rental status of major projectsName of projectLocationUsageTheCompan

120、ysworkinginterestRentableareaCumulativerented areaAverageoccupancyrateXi Apartments(Longyuan)ShenzhenApartments for long-term rental100.00%39673967100.00%ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202216Xi Apartments(Longhua)ShenzhenApartments for long-term rental100.00%16091

121、609100.00%Xi Apartments(Xinhu)ShenzhenApartments for long-term rental100.00%.00%DonghuApartmentsShenzhenApartments for long-term rental100.00%8171.725250.0664.25%Food Court in theInternational TradeCenterShenzhenCommercial100.00%40492453.6360.60%Fumin ComplexShenzhenCommercial,apartments1

122、00.00%64504836.8474.99%Tower A ofWenjindu PortBuildingShenzhenOffice building75.00%58845884100.00%Haiwai LianyiBuildingShenzhenCommercial units andoffices75.00%9313.788839.7894.91%Anhua BuildingShenzhenOffices75.00%.00%TrainingBuilding/DormitoryShenzhenResidentialunits/offices/commercialu

123、nits75.00%41944194100.00%Pengfu BuildingShenzhenOffices75.00%64946494100.00%Jinfu BuildingShenzhenShenzhenCommercial75.00%17021406.7482.65%Jinfu BuildingShenzhenShenzhenCommercial100.00%568568100.00%Fuxing GardenShenzhenResidential/commercial75.00%57875787100.00%Fuxing GardenShenzhenCommercial100.00

124、%.00%Plant area inTangxia Town,Dongguan CityDongguanCityPlant75.00%2203422034100.00%Pacific BusinessBuildingShenzhenCommercialunits/offices75.00%31993199100.00%Pacific BusinessBuildingShenzhenCommercialunits/offices15.00%1488914720.5798.87%Kangti BuildingShenzhenCommercialunits/offices75.

125、00%20962096100.00%Kangti BuildingShenzhenCommercialunits/offices15.00%.00%Lyuhua BuildingShenzhenCommercial andresidential75.00%69606913.799%Shops on theground floor ofTower 48 inLianhua NorthVillageShenzhenShops75.00%.00%HaonianhuaBuildingShenzhenApartments andcommercial units

126、100.00%.00%HaonianhuaBuildingShenzhenApartments andcommercial units75.00%22782278100.00%Hostel 2 at YuxinSchoolShenzhenHostel75.00%30003000100.00%Kaifeng Garden inShangmeilinShenzhenResidential100.00%1307953.2372.93%Fuyuan IndustrialZoneShenzhenPlant area75.00%47.00%Tonglu Indu

127、strialZoneShenzhenPlant area100.00%7688675161.597.76%Gonglu BuildingShenzhenCommercial/offices75.00%317317100.00%Jiangling IndustrialZoneShenzhenPlant area75.00%00.00%ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202217Zone 21ShenzhenCommercial/offices75.00%9514951410

128、0.00%Baoli CommunityShenzhenResidential75.00%9020887998.44%Songgang PlantShenzhenPlant area75.00%57005700100.00%Longbu PlantShenzhenPlant area75.00%74717471100.00%Gonglu Building inHuanggangShenzhenOffices75.00%46004554.9499.02%Yuetong ComplexShenzhenOffices75.00%30443044100.00%Department StorePlaza

129、ShenzhenOffices33%00.00%Southern SecuritiesBuildingShenzhenOffices33%8809.83424.8238.88%Building 409,Sangda IndustrialZoneShenzhenPlant area33%3309.23309.2100.00%Mianshui StudioApartmentShenzhenApartment33%3440.123440.12100.00%Xiangfu BuildingShenzhenCommercial33%3104.93104.9100.00%6.Prim

130、ary land developmentApplicable Not applicable7.Financing channelsUnit:RMBFinancingchannelEnding balance offinancingsFinancing costrange/averagefinancing costMaturity structureWithin 1year1-2 years2-3 yearsOver 3 yearsBank loans3,843,732,330.004%-6%128,000,000.002,999,500,000.00716,232,330.00Total3,8

131、43,732,330.004%-6%128,000,000.002,999,500,000.00716,232,330.008.Development strategy and operating plan for the coming yearEfforts will be put on expansion,acceleration,transformation,empowerment and effectiveness.In terms of land reserve,theCompany will expand its capacity through market competitio

132、n and capital operation,continue to focus on areas with economicdevelopment potentials,such as the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta,and activelyfacilitate the implementation of projects as soon as possible through market-based bid invitation,auction and listing,

133、industrialland application,project cooperation and other means.In terms of project development,the Company will focus on projectdevelopment and turnover in the latter half of the year.Specifically,it will gather strength to successfully achieve annual operationobjectives,continue to strengthen the o

134、verall planning and control of the overall objectives,progress nodes and investment plansof each project,accelerate the development and construction of Humen Project,Guangming Project and Guanlan Bangling UrbanRenewal Project(Phase I and Phase II),actively promote the completion and acceptance of th

135、e principal works and fine decorationof Fuchang Phase II Project,assist in the ownership confirmation and disposal of entrusted properties such as Pingshan TianjunIndustrial Park,and strive to complete such work as project approval and special declaration of the renewal unit plan for theFuyuan Indus

136、try Park,conclusion of Baolu land compensation agreement and separation of the Yupinluanshan Project.9.Provision of guarantees for homebuyers on bank mortgages Applicable Not applicableAs a usual practice for real estate developers,the Company has been providing guarantees and security deposits for

137、its homebuyerson their bank mortgages.As at 30 June 2022,security deposits for such outstanding guarantees amounted to RMB64,997,757.03,which will be returned upon the expiry of the guarantees,i.e.when the relevant homebuyers paid off their bank mortgages.10.Joint investments by directors,supervisor

138、s and senior management and the listed company(applicable for suchinvestments where the directors,supervisors and senior management are the investment entities)Applicable Not applicableShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202218Name ofprojectType ofinvestmententityAmoun

139、t ofinvestment(RMB0,000)%ofinvestmentamountAs%of thepeak of theproject fundsCumulative incomeDisinvestmentCompatibilityof actualinvestmentamount anddistributedincomeUrbanRenewal ofBanglingSection atGuanlanStreetMandatoryinvestmententities(includingdirectors andseniormanagement)2,647.0066.18%N/A0None

140、N/AVoluntaryinvestmententities1,353.0033.82%N/A0NoneN/ANote:Since this is an ongoing project,the peak of the project funds,cumulative income and disinvestment are unknown.Fordetails,please refer to the relevant announcements disclosed by the Company on dated 9 November 2019.II Core Competitiveness A

141、nalysisAdvantages in brand and cultural accumulation:As a Shenzhen municipal state-owned enterprise,SZPRD has undergone 40years of development and accumulation and has been highly recognized by the market for the brand value and comprehensivestrength of SZPRD that carries the spirit of reform and op

142、ening up of the Shenzhen International Trade Center Building.SZPRDcame into being because of the Shenzhen International Trade Center and has risen amid the Reform and Opening up campaign.Emerging and growing together with Shenzhen,a city of miracles,the Company has been“a loyal practitioner of the s

143、pirit of theox”and overcome difficulties in proposing new services in the new era.Market-oriented advantages:In accordance with the market-oriented pace of a small change in a year and a big change in threeyears,the Group continues to innovate institutional mechanisms,deepen internal reforms,and act

144、ively benchmark with industrymodels for market-oriented operation,which significantly stimulates the vitality and momentum of the Groups high-qualitydevelopment.In recent years,the Guanlan Bangling project pioneered the cooperation between state-owned enterprises and privateenterprises in developing

145、 urban renewal projects,marking the first fully market-oriented urban renewal project in the history of theGroup,and took the lead in implementing the follow-on investment system for urban renewal projects in the citys state-ownedcapital system.The property management segment,with 90%projects outsid

146、e the province and 90%market-oriented expansion,demonstrates the strong competitiveness of the Companys property management business in the national market.The Company hassimultaneously established a multi-level incentive and restraint mechanism including follow-on investment and long-term incentive

147、s,allocating resources,selecting talents and assessing rewards and punishments according to the market-oriented approach.Whole industry chain advantage:Over the years,the Group has formed the advantage of the whole industry chain in the wholeprocess of project acquisition,development and constructio

148、n,investment and sales,leasing management and property management,especially in the area of high-end park basic services and property management quality services,which has formed obvioussegmentation advantages and forged the core competitive ability of the Company.City-industry integration advantage

149、:From the earliest urban complex of Shenzhen International Trade Center Building,LuohuCommercial City,Huanggang Port area development to the development and operation of large city-industry complex project ofGuanlan Bangling urban renewal project,the Groups advantages of city-industry complex develo

150、pment products have beenhighlighted,and with the implementation of a series of urban renewal projects and industrial projects,the advantages of city-industrycomplex will be further consolidated and enhanced.Advantages as a holding subsidiary of a Fortune Global 500 company:Shenzhen Investment Holdin

151、gs Co.,Ltd.,the controllingshareholder of the Company,has been committed to building a world-leading state-owned capital investment and operation companyand a financial holding group.It has now developed into a state-owned capital investment company focusing on fintech,technologyShenZhen Properties&

152、Resources Development(Group)Ltd.Interim Report 202219parks,infant industries and high-end services.It was listed in Fortune Global 500 companies in 2022 with operating revenue ofRMB242.5 billion and ranked 372nd on the list,24 places higher than that in 2021.Relying on the controlling shareholdersad

153、vantages in the whole industrial chain of technology parks,the Company carries out active transformation and upgrading andconcentrates on the development and construction of industry-city complexes,heralding a broader development prospect.III Core Business AnalysisSee contents under the heading“I Pr

154、incipal Activity of the Company in the Reporting Period”in“Management Discussion andAnalysis”.Year-on-year changes in key financial data:Unit:RMBH1 2022H1 2021Change(%)Main reason for changeOperating revenue1,988,299,840.242,706,785,638.30-26.54%Decreased revenue carryforwardsin the property develop

155、mentbusiness and the offering of rentalexemptions in the rental businessin the current periodCost of sales1,068,652,583.32906,050,067.7217.95%Selling expense11,358,858.5110,418,105.379.03%Administrative expense143,701,058.05119,107,631.5220.65%Finance costs28,092,277.76-229,075.4412,363.33%Decreased

156、 interest income in thecurrent periodIncome tax expense92,655,204.26195,401,618.54-52.58%Decreased taxable income in thecurrent periodR&D investments2,689,725.400.00100.00%Acquisition of FMC in September2021Netcashgeneratedfrom/used in operatingactivities-395,994,231.091,141,561,301.92-134.69%Decrea

157、sed cash inflows andpayment for the land of theYangzhou project in the currentperiodNetcashgeneratedfrom/used in investingactivities-248,809,261.38-13,043,999.27-1,807.46%Expenditure on equity acquisitionin the current periodNetcashgeneratedfrom/used in financingactivities151,572,890.35-375,250,891.

158、88140.39%New bank loan in the currentperiod and the payment of cashdividends in JulyNet increase in cashand cash equivalents-490,792,510.62752,696,603.78-165.20%Asset impairment loss3,302.47-33,715.66-109.80%Credit impairment loss-14,462,076.54-6,797,536.40112.75%Increased allowances for doubtfulacc

159、ounts in the current periodOther income6,806,445.993,242,846.47109.89%Increased government grants andtax and levy rebates in the currentperiodReturn on investment946,914.053,350,564.96-71.74%Decreased net profits of jointventures in the current periodNon-operating income2,546,068.4610,624,684.14-76.

160、04%Demolition compensationreceived in the same period of lastyearNon-operating expense1,417,586.841,953,595.36-27.44%Material changes to the profit structure or sources of the Company in the Reporting Period:ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202220Applicable Not appl

161、icableNo such changes in the Reporting Period.Breakdown of operating revenue:Unit:RMH1 2022H1 2021Change(%)Operating revenueAs%of totaloperating revenue(%)Operating revenueAs%of totaloperating revenue(%)Total1,988,299,840.24100%2,706,785,638.30100%-26.54%By operating divisionPropertydevelopment1,156

162、,147,570.4658.15%1,897,026,889.7370.08%-39.05%Propertymanagement778,342,112.8139.15%707,732,230.8726.15%9.98%Property rental53,810,156.972.71%102,026,517.703.77%-47.26%By product categoryPropertydevelopment1,156,147,570.4658.15%1,897,026,889.7370.08%-39.05%Propertymanagement778,342,112.8139.15%707,7

163、32,230.8726.15%9.98%Property rental53,810,156.972.71%102,026,517.703.77%-47.26%By operating segmentShenzhen1,570,922,892.6479.01%2,477,765,972.2291.54%-36.60%Other417,376,947.6020.99%229,019,666.088.46%82.25%Operating Division,Product Category or Operating Segment Contributing over 10%of Operating R

164、evenue or Operating Profit Applicable Not applicableUnit:RMBOperating revenueCost of salesGross profitmarginYoY change inoperatingrevenue(%)YoY change incost of sales(%)YoY change ingross profitmargin(%)By operating divisionPropertydevelopment1,156,147,570.46334,703,848.7571.05%-39.05%30.62%-15.44%P

165、ropertymanagement778,342,112.81674,642,686.4713.32%9.98%11.56%-1.23%By product categoryPropertydevelopment1,156,147,570.46334,703,848.7571.05%-39.05%30.62%-15.44%Propertymanagement778,342,112.81674,642,686.4713.32%9.98%11.56%-1.23%By operating segmentCore business data of the prior year restated acc

166、ording to the changed statistical caliber for the Reporting Period:Applicable Not applicableAny over 30%YoYmovements in the data above and why:ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202221Applicable Not applicableIV Analysis of Non-Core Businesses Applicable Not applicabl

167、eUnit:RMBAmountAs%of total profitMain source/reasonRecurrent or notReturn on investment946,914.050.28%Share of profits of joint venturesYesGain/loss on changesin fair value0.000.00%Asset impairments3,302.470.00%Inventory valuation allowancesNotNon-operating income2,546,068.460.76%Government grantsNo

168、tNon-operating expense1,417,586.840.42%Liquidated damages paid fordelayed deliveryNotCredit impairment loss-14,462,076.54-4.33%Allowances for doubtfulaccountsNotV Analysis of Assets and Liabilities1.Significant Changes in Asset CompositionUnit:RMB30 June 202231 December 2021Changeinpercentage(%)Reas

169、on for any significantchangeAmountAs%oftotalassetsAmountAs%oftotalassetsMonetary assets1,849,085,199.6112.19%2,337,067,963.5515.76%-3.57%Payment for landAccountsreceivable372,687,342.052.46%295,184,881.921.99%0.47%Increased propertymanagement fees receivableInventories9,887,020,742.8365.19%9,125,134

170、,062.2761.54%3.65%Increased land bankInvestmentproperty466,359,148.853.07%452,419,511.173.05%0.02%Long-term equityinvestments51,220,215.750.34%50,360,681.370.34%0.00%Increased returns from jointventuresFixed assets89,069,782.550.59%114,155,590.400.77%-0.18%Reclassification of assetsRight-of-useasset

171、s71,219,989.280.47%71,472,680.730.48%-0.01%Contractliabilities825,293,704.215.44%1,371,850,725.609.25%-3.81%Operating revenuecarryforwardsLong-termborrowings3,779,015,668.0024.92%3,524,500,000.0023.77%1.15%New bank loanLease liabilities81,328,041.640.54%83,081,182.890.56%-0.02%Other receivables849,0

172、28,570.145.60%868,843,269.715.86%-0.26%Recovery of certain currentaccounts and increasedallowances for doubtfulaccountsDeferred incometax assets1,360,135,643.808.97%1,279,816,590.328.63%0.34%Increased land VATprovisionsOther non-currentassets2,750,873.080.02%45,571,997.850.31%-0.29%Prepayment for eq

173、uityacquisition transferred tolong-term equityShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202222investments as acquiree hasbeen transferredAccounts payable299,749,726.451.98%351,831,212.232.37%-0.39%Increased payments forengineeringAdvances fromcustomers11,924,111.880.08%3,744

174、,582.250.03%0.05%Increased rental advancesOther payables1,834,012,894.0612.09%1,027,613,690.946.93%5.16%Increased dividends payableand receipt of cooperationfunds from cooperationparty Yangzhou WuheOther non-currentliabilities118,749,645.020.78%126,059,683.080.85%-0.07%Decreased output taxwithheld2.

175、Major Assets OverseasApplicable Not applicable3.Assets and Liabilities at Fair Value Applicable Not applicableUnit:RMBItemBeginningamountGain/losson fair-valuechanges intheReportingPeriodCumulativefair-valuechangescharged toequityImpairmentallowancefor theReportingPeriodPurchased intheReportingPerio

176、dSold intheReportingPeriodOtherchangesEndingamountFinancialassets4.Investmentsin otherequityinstruments1,002,551.95-118,365.5830,786.35914,972.72Subtotaloffinancialassets1,002,551.95-118,365.5830,786.35914,972.72Total of theabove1,002,551.95-118,365.5830,786.35914,972.72Financialliabilities0.000.00C

177、ontents of other changes:Other changes were resulted from exchange rate movements.Significant changes to the measurement attributes of the major assets in the Reporting Period:Yes No4.Restricted Asset Rights as at the Period-EndUnit:RMBItemEnding carrying valueReason for restrictionShenZhen Properti

178、es&Resources Development(Group)Ltd.Interim Report 202223Monetary assets375,888,953.54Note 1-Note 9Land use rights at Fumin New Village,Futian District,Shenzhen542,507,314.43Note 10Total918,396,267.97Note 1 In terms of monetary assets with restricted right to use at the period-end,there was a bank gu

179、arantee of RMB368,609,058.40issued by the Company in 2021 for the supervision of the implementation entity of the urban renewal unit project Phase II inBangling Area,Guanlan Street,Longhua District of Shenzhen Rongyao Real Estate Development Co.,Ltd.,of which the principalwas RMB365,765,440.00 and t

180、he interest was RMB2,843,618.40.Note 2 In terms of monetary assets with restricted right to use at the period-end,there was an escrow deposit of RMB44,757.83 inthe catering branch of the subsidiary company Shandong Shenguomao Real Estate Management Co.,Ltd.Note 3 In terms of monetary assets with res

181、tricted right to use at the period-end,there was an advance payment guarantee ofRMB459,627.50 issued by the subsidiary company Shenzhen Facility Management Community Technology Co.,Ltd.in December2021 for the upgrading and reconstruction of the smart park of Shenzhen Bay Eco-Technology Park and the

182、software platformdevelopment contract.Note 4 In terms of monetary assets with restricted right to use at the period-end,there was RMB3,000,000.00 in the subsidiarycompany Shenzhen Facility Management Community Technology Co.,Ltd.blocked by the court due to pre-litigation preservationfor contract dis

183、putes.Note 5 In terms of monetary assets with restricted right to use at the period-end,there was a loan deposit of RMB1,127,757.03provided as mortgage loan guarantees for commercial housing purchasers and paid by the Company as a real estate developeraccording to real estate business practices.Note

184、 6 In terms of monetary assets with restricted right to use at the period-end,there was RMB2,346,666.67 of interest onunexpired term deposits accrued at the period-end.Note 7 In terms of monetary assets with restricted right to use at the period-end,there was RMB16,111.20 of interest on large-denomi

185、nation CDs(more than one year).Note 8 In terms of monetary assets with restricted right to use at the period-end,there was RMB128,974.91 in the account of thesubsidiary company Shenzhen Property Engineering and Construction Supervision Co.,Ltd.The account was in a receiving-onlystatus because the le

186、gal person change formalities had not been completed by the period-end.Note 9 In terms of monetary assets with restricted right to use at the period-end,there was a restricted fund of RMB156,000 in theblocked account of the subsidiary company Shenzhen Huazhengpeng Property Management Co.,Ltd.Note 10

187、 Due to the needs of daily business activities,the Company applied for a loan from Bank of Communications Co.,Ltd.Shenzhen Branch and mortgaged the land use right of Fumin New Village,Futian District.The loan has a duration from November27,2020 to November 27,2023 and applies floating interest rates

188、,with the first execution interest rate being 4.655%.VI Investments Made1.Total Investment AmountApplicable Not applicable2.Major Equity Investments Made in the Reporting Period Applicable Not applicableUnit:RMBName ofinvesteecorporatiMainbusinessesInvestInvestedamountShareholdingSourceof fundPartne

189、rsInvestmentduratioProduct typeStatusas atthePredictedreturnInvestmentreturnWhetherDate ofdisclosure(ifDisclosure index(ifany)ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202224onmentmethodpercentage(%)nbalance sheetdatein thecurrentperiodinvolvedinanylegalactionsany)ShenzhenPr

190、opertyManagement Co.,Ltd.Propertymanagement servicesAcquisition196,676,700.00100%EquityfundsandbankloanShenZhen SpecialEconomic ZoneRealEstate&Properties(Group)Co.,Ltd.andShenzhen SPGInvestment Co.,Ltd.Long-termEquityinterestOwnershiptransferred196,676,700.001,897,738.60No15February 2022For details,

191、see theAnnouncement on theProgress of theWholly-ownedSubsidiarysAcquisition of 100%Equity in ShenzhenProperty ManagementCo.,Ltd.and Related-party Transactions (Announcement No.:2022-01).ShenzhenForeignTradePropertyManagement Co.,Ltd.Propertymanagement servicesAcquisition20,898,800.00100%Equityfundsa

192、ndbankloanChinaShenzhenForeignTrade(Group)Corp.Ltd.Long-termEquityinterestOwnershiptransferred20,898,800.00-1,927,102.71No25February 2022For details,see theAnnouncement on theProgress of theWholly-ownedSubsidiarysAcquisition of 100%Equity in ShenzhenForeign TradeProperty ManagementCo.,Ltd.and Relate

193、d-party Transactions (Announcement No.:2022-06).ShenzhenShenfubaoPropertyDevelopment Co.,Ltd.Propertymanagement servicesAcquisition59,942,200.00100%EquityfundsandbankloanShenzhenShenfubao(Group)Co.,Ltd.Long-termEquityinterestOwnershiptransferred59,942,200.003,057,582.09No25February 2022For details,s

194、ee theAnnouncement on theProgress of theWholly-ownedSubsidiarysAcquisition of 100%Equity in ThreeEnterprises Owned byShenzhen Shenfubao(Group)Co.,Ltd.andRelated-partyTransactions (Announcement No.:2022-05).ShenzhenShenfubaoHydropowerMunicipal ServiceCo.,Ltd.Buildingprojectconstruction,municipalproje

195、ctconstruction,dailyoperationandmaintenance ofmunicipalpublicfacilities,roadcleaning,etc.Acquisition21,729,700.00100%EquityfundsandbankloanShenzhenShenfubao(Group)Co.,Ltd.Long-termEquityinterestOwnershiptransferred21,729,700.00-863,505.35No25February 2022For details,see theAnnouncement on theProgres

196、s of theWholly-ownedSubsidiarysAcquisition of 100%Equity in ThreeEnterprises Owned byShenzhen Shenfubao(Group)Co.,Ltd.andRelated-partyTransactions (Announcement No.:2022-05).ShenzhenFreeTradeZoneSecurityServiceCo.,Ltd.Propertysecurity andenterpriseinternalsecurityAcquisition3,780,500.00100%Equityfun

197、dsandbankloanShenzhenShenfubao(Group)Co.,Ltd.Long-termEquityinterestOwnershiptransferred3,780,500.00-611,814.96No25February 2022For details,see theAnnouncement on theProgress of theWholly-ownedSubsidiarysAcquisition of 100%Equity in ThreeEnterprises Owned byShenZhen Properties&Resources Development(

198、Group)Ltd.Interim Report 202225Shenzhen Shenfubao(Group)Co.,Ltd.andRelated-partyTransactions (Announcement No.:2022-05).Total-303,027,900.00-303,027,900.001,552,897.67-3.Major Non-Equity Investments Ongoing in the Reporting PeriodApplicable Not applicable4.Financial Investments(1)Securities Investme

199、nts Applicable Not applicableUnit:RMBVariety ofsecurityCodeofsecurityNameofsecurityInitialinvestmentcostAccountingmeasurementmethodBeginningcarryingvalueGain/Lossonfairvaluechanges inReportingPeriodAccumulated fairvaluechangescharged toequityPurchasedinReportingPeriodSoldinReportingPeriodGain/loss i

200、nReportingPeriodEndingcarryingvalueAccountingtitleSource ofinvestmentfundsDomestic/Foreignstock400016、420016Gintian A,Gintian B3,565,856.06Fairvaluemethod1,002,551.950.00-118,365.580.000.0030,786.35914,972.72InvestmentsinotherequityinstrumentsObtained inGintiansdebtrestructuringTotal3,565,856.06-1,0

201、02,551.950.00-118,365.580.000.0030,786.35914,972.72-(2)Investments in Derivative Financial InstrumentsApplicable Not applicableNo such cases in the Reporting Period.5.Use of Funds RaisedApplicable Not applicableNo such cases in the Reporting Period.ShenZhen Properties&Resources Development(Group)Ltd

202、.Interim Report 202226VII Sale of Major Assets and Equity Investments1.Sale of Major AssetsApplicable Not applicableNo such cases in the Reporting Period.2.Sale of Major Equity InvestmentsApplicable Not applicableVIII Principal Subsidiaries and Joint Stock Companies Applicable Not applicablePrincipa

203、l subsidiaries and joint stock companies with an over 10%effect on the Companys net profitUnit:RMBNameRelationship withtheCompanyPrincipalactivityRegisteredcapitalTotal assetsNet assetsOperatingrevenueOperatingprofitNet profitShenzhenHuangchengRealEstate Co.,Ltd.SubsidiaryDevelopment andsales ofreal

204、 estate30,000,000.007,376,045,265.592,771,030,762.00872,813,128.83356,103,466.50267,749,996.55SZPRDXuzhouDapengReal EstateDevelopment Co.,Ltd.SubsidiaryDevelopment andsales ofreal estate50,000,000.0030,225,051.90-43,517,106.79251,006,417.4034,245,280.5833,265,242.45ShenzhenInternational TradeCenterP

205、ropertyManagement Co.,Ltd.SubsidiaryPropertymanagement services20,000,000.001,590,053,601.13296,771,752.95780,186,750.4739,984,090.0827,048,907.30Subsidiaries obtained or disposed in the Reporting Period Applicable Not applicableSubsidiaryHow subsidiary was obtained ordisposed in the Reporting Perio

206、dEffects on overall operations and operatingperformanceShenzhen Wuhe Urban Renewal Co.,Ltd.Newly establishedRevenue:RMB0.7 millionNet profit:RMB-0.56 millionShenzhen Tonglu Wuhe InvestmentDevelopment Co.,Ltd.Newly establishedRevenue:RMB0.44 millionNet profit:RMB-0.38 millionYangzhou Wuhe Real Estate

207、 Co.,Ltd.Newly establishedRevenue:RMB0Net profit:RMB-0.47 millionShenzhen Guomao Industrial SpaceService Co.,Ltd.Newly establishedRevenue:RMB0Net profit:RMB-0.1 thousandShenzhen Property Management Co.,Ltd.Acquired under common controlRevenue:RMB67.6 millionNet profit:RMB0.04 millionShenzhen Shenwu

208、Elevator Co.,Ltd.Acquired under common controlRevenue:RMB2.69 millionShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202227Net profit:RMB0.06 millionShenzhen Shenfang Real EstateCleaning Co.,Ltd.Acquired under common controlRevenue:RMB4.64 millionNet profit:RMB0.1 millionShenzhen

209、Foreign Trade PropertyManagement Co.,Ltd.Acquired under common controlRevenue:RMB16.35 millionNet profit:RMB-1.89 millionShenzhen Shenfubao PropertyDevelopment Co.,Ltd.Acquired under common controlRevenue:RMB63.91 millionNet profit:RMB0.71 millionShenzhen Fubao Urban ResourceManagement Co.,Ltd.Acqui

210、red under common controlRevenue:RMB1.76 millionNet profit:RMB-0.84 millionShenzhen Shenfubao HydropowerMunicipal Service Co.,Ltd.Acquired under common controlRevenue:RMB17.03 millionNet profit:RMB-2.86 millionShenzhen Free Trade Zone SecurityService Co.,Ltd.Acquired under common controlRevenue:RMB11

211、.99 millionNet profit:RMB-0.69 millionNotes to the principal subsidiaries and joint stock companies:IX Structured Bodies Controlled by the CompanyApplicable Not applicableX Risks Facing the Company and Countermeasures1.Market riskUnder the guidance of the policy that houses are for living in,not for

212、 speculating on,the demand side of the real estate marketremains in the downward channel and the central government imposes generally stringent financial regulation over the real estatemarket.Consequently,there has been a shift from land dividends to management dividends in the real estate industry.

213、In particular,itposes unprecedented challenges to business capabilities such as cost design and engineering.The advancement of urban renewalprojects is confronted with complicated conditions and formidable obstacles and the Companys business and development faceopportunities and challenges.Under gri

214、m circumstances,the Company thoroughly studied the opportunities and challenges brought about by macroeconomictrends and policy movements,adhered to“expanding the main business and making breakthroughs in other businesses”,activelysought the strategic breakthrough direction and adhered to prudent op

215、eration.Additionally,it raised funds from multiple channels,focused on enhancing the management level and seized opportunities in the land market.Based in Shenzhen,the Company aims toextend its presence to the Guangdong-Hong Kong-Macao metropolitan area and surrounding areas and strives to improve i

216、tssustainable development capabilities.2.Land Reserve RiskAs a matter of fact,the Company still lacks enough land reserves and development power at later stages.In recent years,the supplyof residential land on Shenzhen Market has continuously declined.Various large-scale real estate enterprises have

217、 enlarged theirmarket shares and accelerated their M&A pace.While the real estate industry is centralizing,the degree of centralization of the landreserve scale has also been enhanced.As the external environment and the industrys trend become much more complicated andsevere,the increment market scal

218、e will further shrink and the market competition will become increasingly fierce.Facing the challenges,the Company will continue to expand through market competition,capital operation and urban renewal,increase land reserves and promote the launch of projects.In respect to property type,residential

219、projects will focus on Guangdong-Hong Kong-Macao Greater Bay Area,Yangtze River Delta metropolitan area and areas where existing projects locate,and graduallyturn to central urban agglomeration surrounding Wuhan,key cities in Chengdu-Chongqing in the West and those in Beijing,Tianjinand Hebei.Urban

220、renewal projects will focus on Shenzhen,Dongguan and Huizhou,and follow-up of urban renewal projects inGuangzhou.Comprehensive industry and urban projects will focus on Guangdong-Hong Kong-Macao Greater Bay Area,YangtzeRiver Delta region,Wuhan region in the central part and Chengdu-Chongqing area in

221、 the West.ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 2022283.Financing RiskIn order to effectively prevent financial risks related to real estate,the central government has tightened the financial regulation ofreal estate.The tough regulation of the three red lines generally

222、remains unchanged,and the financing of real estate enterprises isstill under strict restriction.2022 is a year of intensive project development and huge capital demand for the Company,whichneeds to invest a large amount of capital for project development and business development.In addition to its o

223、wn funds,theCompany also needs to conduct external financing by means of bank loan and issuance of negotiable securities.Currently,the Company has steady financial situation and good credit condition,and will further strictly control financial risks,actively explore various financing channels so as

224、to raise funds for project development in the future.4.Pandemic riskThe impact of COVID-19 continues,and market uncertainties remain active.Shenzhen was greatly affected by the COVID-19pandemic in the first half of 2022.Specifically,In the real estate segment,the real estate projects of the Company,

225、especially thosein the Shenzhen-adjacent area,were affected by the pandemic in such aspects as investment,construction progress,financingenvironment and sales rhythm,bringing great pressure to subsequent funds withdrawal of the Company;in terms of the propertymanagement segment,the Company needs to

226、meet higher and stricter requirements in property management level and riskprevention and control capability;in terms of the industrial operation segment,the rental market was significantly impacted by thepandemic,and the Companys business operation capability is facing a severe test.The above busin

227、ess plan and business objectives do not represent the listed Companys profit forecast for 2022.Whether itcan be achieved depends on various factors including changes in market conditions and the effort made by the managementteam.Investors must pay special attention to that because there exists huge

228、uncertainty.ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202229Part IV Corporate GovernanceI Annual and Extraordinary General Meeting Convened during the Reporting Period1.General Meetings Convened during the Reporting PeriodMeetingTypeInvestorparticipation ratioConveneddateDis

229、closuredateResolution of the meetingThe 2021AnnualGeneralMeetingAnnualGeneralMeeting60.68%17 May202218 May2022The Meeting considered and approved the Report onthe Work of the Board of Directors for 2021,theReport on the Work of the Supervisory Committeefor 2021,the Annual Report 2021,the Report on t

230、heFinancial Accounts for 2021,the Report on theFinancial Budget for 2022,the Proposal on theDistribution of Profits and Capitalization of CapitalReserve for 2021,the Proposal on the ComprehensiveCredit Line and Financing Limit for 2022,theProposal to Expect Continuing Related-partyTransactions for 2

231、022 and the Proposal to Renew theAppointment of Accounting Firm,etc.For details,please refer to the Announcement of Resolutions ofthe Annual General Meeting of Shareholders for2021 with the number 2022-19 on Cninfo().The FirstExtraordinaryGeneralMeeting of2022ExtraordinaryGeneralMeeting59.98%20 July

232、202221 July2022The Proposal on the Subsidiarys Participation in theBidding for Land Use Rights and Subsequent LandDevelopment of No.2021WR023 Land Plot inChigang Community,Humen Town,Dongguan City,the Proposal on the Companys Participation in theBidding for Land Use Rights and Subsequent LandDevelop

233、ment of No.A606-0258 Land Plot in YutangSub-district,Guangming District,Shenzhen City,theProposal on the Purchase of Liability Insurance forDirectors,Supervisors and Senior Managers,andthe Proposal on Election of Mr.Ma Hongtao asShareholder Representative Supervisor of the TenthBoard of Supervisors

234、of the Company weredeliberated and approved during the 1stExtraordinary General Meeting of 2022.For details,see the Announcement on Resolutions of the 1stExtraordinary General Meeting of 2022(No.2022-31)published on Cninfo().2.Extraordinary General Meetings Convened at the Request of Preference Shar

235、eholders with ResumedVoting RightsApplicable Not applicableII Changes in Directors,Supervisors and Senior Management Applicable Not applicableShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202230NameOffice titleType of changeDate of changeReason for changeWei XiaodongDirectorResi

236、gned29 June 2022ReassignmentDai XianhuaSupervisor and Chairmanof the SupervisoryCommitteeResigned20 July 2022Reaching the statutoryretirement ageZhang ZhiminDirectorElected29 June 2022Elected at a workerscongressMa HongtaoSupervisor and Chairmanof the SupervisoryCommitteeElected20 July 2022Elected a

237、t a general meetingof shareholdersIII Interim Dividend PlanApplicable Not applicableThe Company has no interim dividend plan,either in the form of cash or stock.IV Equity Incentive Plans,Employee Stock Ownership Plans or Other Incentive Measuresfor EmployeesApplicable Not applicableNo such cases in

238、the Reporting Period.ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202231Part V Environmental and Social ResponsibilityI Major Environmental IssuesIndicate by tick mark whether the Company or any of its subsidiaries is a heavily polluting business identified by the environmental

239、protection authorities of China.Yes NoAdministrative penalties imposed for environmental issues during the Reporting PeriodName of thecompany orsubsidiarycompanyPenalty reasonViolation situationPenalty resultImpact on theproduction andoperation of thelisted companiesRemediationmeasures of theCompany

240、NoneNoneNoneNoneNoneNoneOther environmental information disclosed with reference to key emission unitsThe Company attaches great importance to environmental protection and strictly implements relevant laws and regulations.Duringthe Reporting Period,no major environmental violations occurred and no a

241、dministrative penalties were imposed on environmentalprotection.Actions taken to reduce carbon dioxide emissions during the Reporting Period and the impact:Applicable Not applicableReasons for not disclosing other environmental informationNeither the Company nor any of its subsidiaries is a heavily

242、polluting business identified by the environmental protection authoritiesof China.II Social Responsibility(I)Visit seriously ill employees in difficultyOn 20 January 2022,the Party Committee of SZPRD organized a symposium to extend regards to the employees in difficultybefore the Spring Festival.Liu

243、 Shengxiang,Secretary of the Party Committee of the Group and Chairman of the Group,and WeiXiaodong,Deputy Secretary of the Party Committee of the Group delivered sympathy funds and items amounting toapproximately RMB110,000 to representatives of Party members and employees in difficulty,making them

244、 feel the care andwarmth of the Group as an extended family.During the symposium,Group leaders communicated with Party members and representatives of employees in difficulty andlearned about their work and life in detail.Liu Shengxiang,Secretary of the Party Committee of the Group and Chairman of th

245、eGroup,introduced the Groups strategic planning under the 14th Five-Year Plan,fruitful achievements made by the Group in 2021and the Groups deployment of key work for 2022,while fully affirming and sincerely thanking all the Party members andemployees in difficulty for their earnest performance of d

246、uties in spite of numerous difficulties.Mr.Liu stressed that thedevelopment of the Group is inseparable from the strong leadership of Shenzhen SASAC and SIHC,and the tireless efforts andselfless contribution of leading cadres at all levels and grassroots employees of the Group.In the process of deve

247、lopment,theGroup will never let any employee fall behind.Finally,he expressed the hope that the Groups Party members and employees indifficulty would face life bravely with a positive attitude and the determination to overcome difficulties,and get out of difficultiesto live a happy and healthy life

248、as soon as possible.After the symposium,Group leaders delivered sympathy funds and items as well as sincere New Year wishes to therepresentatives of arty members and employees in difficulty,hoping that they could have a safe and peaceful Spring Festival.ShenZhen Properties&Resources Development(Grou

249、p)Ltd.Interim Report 202232(II)Gather strength of volunteers to help Shenzhen fight against COVID-19At the critical juncture of pandemic prevention and control in Shenzhen,The Party Committee of the Group issued the JoiningHands In Fighting Against COVID-19:A Proposal to Party Organizations at All L

250、evels and All Party Members of SZPRD onMarch 16,calling on Party members,cadres and employees to fully carry forward the spirit of fearlessness and selfless dedication,and turn into volunteers for pandemic prevention and control locally or nearby to join hands with the community in fightingagainst C

251、OVID-19.Within just one day upon issuance of the aforesaid proposal,more than 80 Party members,cadres and employees of the Groupliving in Luohu District responded positively and volunteered to participate in local and nearby voluntary service activities in thefrontline of the fight against COVID-19

252、in Luohu District,mainly involving such work as nucleic acid testing,material handling,order management,publicity and guidance,through which they successfully bring the spirit of daring to be the first,andstruggling forward through reform of the Shenzhen International Trade Center Building to the fr

253、ont line of the fight againstCOVID-19,and provide a solid guarantee for the health and safety of Shenzhen citizens.Since the outbreak of COVID-19 in Shenzhen,the Party Committee of SZPRD has attached great importance to pandemicprevention and control as well as work safety,and assisted the community

254、 in fighting against the pandemic for many times.Up tonow,the Group has arranged more than 130 volunteers to the front line of the fight against COVID-19,making due contributionsto Shenzhens fight against the pandemic as a state-owned enterprise.(III)Reduce and exempt rental totaling approximately R

255、MB50 million for enterprises in difficultyIn order to firmly implement the work requirements of Shenzhen SASAC and SIHC,SZPRD actively fulfills its socialresponsibilities and implements various measures for rental reduction and exemption by state-owned enterprises(hereinafterreferred to as SOE renta

256、l reduction and exemption measures).By 15 July 2022,the Group had completed rental reduction andexemption totaling RMB49,679,400 for existing tenants,benefiting 504 small and micro enterprises,197 household industrial andcommercial entities and four private kindergartens,with a view to effectively a

257、lleviating the pandemic impact on small and microenterprises,and making every effort to help market entities tide over difficulties.First,the Group practically assumes the responsibility for rental reduction based on scientific coordination and rapidresponse.In order to accelerate the implementation

258、 of rental reduction and exemption policies,the Group effectively fulfills itsentity responsibility,and establishes a SOE rental reduction and exemption working group in the first time to coordinate andorganize the implementation of rental reduction and exemption for the Group and its affiliated ent

259、erprises.The Group organizesthe formulation of the Work Plan of SZPRD for Implementing SOE Rental Reduction and Exemption and relevant workguidelines to refine the working mechanism,review and approval authority and review process,and to clarify houses to beincluded in the rental reduction and exemp

260、tion measures,the period of reduction and exemption as well as applicable objects andidentification methods.Moreover,it also releases rental reduction and exemption announcements through WeChat groups andbulletin boards to disclose such information as acceptance method,contact person and contact num

261、ber,so that all tenants can beaware of relevant rental reduction and exemption policies,through which the Group overcomes the current difficulties togetherwith small and micro enterprises and other market entities,and well demonstrates its assumption of responsibility as a state-ownedenterprise.Seco

262、nd,the Group weaves a compact guarantee network for rental reduction based on extensive publicity and Group-wide vertical linkage.After the official launch of rental reduction,all affiliated enterprises of the Group timely take the initiativeto visit tenants,guide tenants to submit materials,and sim

263、plify the declaration process,so as to effectively open up the lastkilometer for the implementation of rental reduction policy.The Group establishes an effective routine working mechanism tostrengthen communication and liaison among all parties,properly deal with the demands of all parties,and compr

264、ehensivelyaddress the problems encountered in practical operation.The Group and all its affiliated enterprises disseminate rental reductionand exemption policies across all levels and,for units and individuals really unable to enjoy such policies,relieve their negativeemotions through patient explan

265、ation,thanks to which they havent experienced any complaint or petition event so far.ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202233Based on the full investigation in the early stage,the Group,in view of the problems and special cases centrally reflected by itsaffiliated en

266、terprises during their implementation of relevant policies,organizes a number of special meetings on the promotion ofrental reduction and exemption to further clarify such issues as policy basis,implementation entity and application scope,so as toensure the precise and full implementation of rental

267、reduction and exemption measures.Third,the Group standardizes operation,strengthens review,and does well in the review of rental reduction.All theGroups affiliated enterprises strictly fulfill and improve the decision-making process for SOE housing rental reduction andexemption matters.In line with

268、the requirements of one policy for one enterprise and one archive for one household,theGroup reviews the materials submitted by more than 700 tenant applicants batch by batch and item by item,including entityqualification declaration document,business license,tax payment certificate,etc.,based on wh

269、ich strictly and carefully screens theobjects of rental reduction,and verifies the business scope and actual rental situation of tenants,so as to ensure the compliance ofrental reduction objects with relevant laws and regulations.In view of the special matters occurred in the process of rentalreduct

270、ion and exemption,the Group holds two rounds of symposia on the list of beneficiaries for deliberation.Based on thedeliberation results,the Group takes such indexes as rental period,rental standard and rental reduction period as the determinationbasis for reduction and exemption amount,clearly requi

271、res middleman landlords subleasing state-owned houses to ensure the finallessee benefit from rental reduction and exemption in line with the requirements of achieving rental reduction and exemption tothe maximum possible extent and,premised on the standardization of rental reduction and exemption pr

272、ocedures,enables flexiblereduction and exemption by means of direct return of rental or deduction from subsequent unpaid rental following the principle ofimplementing policies by category in an active and stable manner,and doing the utmost to satisfy commercial tenants,with aview to further reducing

273、 resistance to rental reduction and exemption.Next,the Group will continue to coordinate various rental reduction and exemption work,conduct rental reduction and exemption forincremental tenants,expand the effects of the aforesaid work,help market entities overcome difficulties,and stimulate thedeve

274、lopment vitality of small and micro enterprises.ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202234Part VI Significant EventsI Commitments of the Companys De Facto Controller,Shareholders,Related Parties andAcquirers,as well as the Company Itself and Other Entities Fulfilled in

275、 the ReportingPeriod or Ongoing at the Period-End Applicable Not applicableCommitmentPromisorType ofcommitmentDetails ofcommitmentDate of commitmentmakingTerm ofcommitmentFulfillmentOthercommitmentsmade tominorityshareholdersShenzhenInvestmentHoldings Co.,Ltd.Performancecommitmentandcompensationarra

276、ngementSIHCsighedequitytransfercontracton100%equitytransfer of TKPropertywiththeCompany,and the contractstipulatedrelevantcommitmentsonperformance1.23 September 2019ThreeyearsExpired2Fulfilled ontimeYesNote 1:SIHC sighed equity transfer contract on 100%equity transfer of TK Property with the Company

277、,and the contractstipulated:1.SIHC promises that the cumulative net profits(net profit after deducting extraordinary items)of TK Property from2019 to 2021 will not be less than 18%of the equity transfer payment amount of this transaction,i.e.three-year cumulative netprofits equity transfer payment*1

278、8%.The above net profits are subject to the amount which is confirmed by audited financialreport of TK Property.2.In case three-year cumulative profits of TK Property fails to reach above promised amount,SIHC shallcompensate the insufficient part to the Company in full amount by cash.In case three-y

279、ear cumulative profits(net profit afterdeducting extraordinary items)of TK Property is more than the promised amount,the Company will not refund.3.In case SIHCneeds to fulfill performance compensation obligation,it shall complete the performance compensation obligation within 30 daysafter receiving

280、the compensation notice of the Company,and the specific delivery method will be agreed by both parties.In caseSIHC delays to pay the performance compensation,it shall pay liquidated damages of 3/10000 of unpaid amount for each daydelay.In case of failing to pay for more than 90 days,then Company has

281、 the right to cancel the contract.On 27 November 2019,the Company completed the procedures for registration changes in industry and commerce regarding 100%equity transfer of TKProperty.According to the Equity Transfer Contract and the audit result on profit or loss of transitional period in the audi

282、t report,the final price for this equity transfer was determined bilaterally as RMB1,027,382,513.56.Note 2:The audit results of Baker Tilly International(Special General Partner)show that,by the end of 2021,the cumulative netprofit upon deduction of non-recurring gains and losses of ITC Technology P

283、ark Company during the three-year performancecommitment period of 2019-2021 was RMB212,788,300,and the portion exceeding 18%of transaction equity transfer payment(RMB184,928,900)amounted to RMB27,859,400.The three-year cumulative net profit of the ITC Technology Park Company hasreached the promised

284、amount.According to the Equity Transfer Contract,it is unnecessary for SIHC to compensate the Companyin cash,and the Company will not return the portion exceeding the promised amount(RMB27,859,400 in total)to SIHC.Thethree-year cumulative net profit of the ITC Technology Park Company has reached the

285、 promised amount.According to the EquityTransfer Contract,it is unnecessary for SIHC to compensate the Company in cash,and the Company will not return the portionexceeding the promised amount(RMB27,859,400 in total)to SIHC.This commitment has already been fulfilled so far.ShenZhen Properties&Resourc

286、es Development(Group)Ltd.Interim Report 202235II Occupation of the Companys Capital by the Controlling Shareholder or any of ItsRelated Parties for Non-Operating PurposesApplicable Not applicableNo such cases in the Reporting Period.III Irregularities in the Provision of GuaranteesApplicable Not app

287、licableNo such cases in the Reporting Period.IV Engagement and Disengagement of Independent AuditorAre the interim financial statements audited?Yes NoThis Interim Report is unaudited.V Explanations Given by the Board of Directors and the Supervisory Committee Regardingthe Independent Auditors“Modifi

288、ed Opinion”on the Financial Statements of theReporting PeriodApplicable Not applicableVI Explanations Given by the Board of Directors Regarding the Independent Auditors“Modified Opinion”on the Financial Statements of Last YearApplicable Not applicableVII Insolvency and ReorganizationApplicable Not a

289、pplicableNo such cases in the Reporting Period.VIII Legal MattersSignificant lawsuits and arbitrations:Applicable Not applicableGeneral informationInvolvedamount(RMB0,000)ProvisionProgressDecisionsand effectsExecutionofdecisionsDisclosuredateIndextodisclosedinformationThe Fourth OwnersCommittee ofSh

290、enzhen Nanshan4,520.93YesThe first session of thearbitration has beenconcluded,and the parties toNot yetNot yetShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202236District SoftwarePark(Applicant)andShenzhen ITCTechnology ParkService Co.,Ltd.(Respondent 1)andHigh-tech ZoneBranch(

291、Respondent2)in the arbitrationcase of propertycontract dispute ofSoftware Park PhaseI.The Applicantrequested an awardfor Respondents 1and 2 to return theowners publicrevenue and bear theattorneys fees.the arbitration have disputedthe number of amountsinvolved and have appliedfor an audit by a third-

292、partyauditor.The audit has nowbeen completed and feedbackis being sought from bothparties to the dispute,and thefinal audit report will beissued shortly.Shenzhen RongyaoReal EstateDevelopment Co.,Ltd.(plaintiff)suedShenzhenHerunxiang TradeCo.,Ltd.(defendant)for propertydemolition andrelocationcompen

293、sationcontract dispute.After Rongyao paidthe demolitioncompensation,Herunxiang failed tohandle thecancellation of thereal propertyownership certificateof the relevant realestate in accordancewith the agreement,which affected thedevelopment andconstruction progressof Rongyao.20,000NotProperty preserv

294、ationmeasures have been takenand the case is under trial.Not yetNot yetShenzhen QitianSunshine HotelManagement Co.,Ltd.(plaintiff)suedShenZhen Properties&ResourcesDevelopment(Group)Ltd.(defendant)forproperty leasingcontract dispute,requesting thedefendant to paycompensation forinterior decoration of

295、the relocated houseand relocation fee ofthe leased house andto return the subsidyfee of the leasedhouse,etc.1,144NotThe first instance judgmentreads that the plaintiffShenzhen Qitian SunshineHotel Management Co.,Ltd.shall pay rent ofRMB1,050,913.6 to thedefendant ShenZhenProperties&ResourcesDevelopm

296、ent(Group)Ltd.within ten days from theeffective date of thisjudgment.All the claims ofthe plaintiff Shenzhen QitianSunshine Hotel ManagementCo.,Ltd.were rejected,andthe remaining counterclaimsof the defendant ShenzhenProperty Development(Group)Co.,Ltd.wererejected.Shenzhen QitianSunshine Hotel Manag

297、ementNot yetNot yetShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202237Co.,Ltd.has instituted anappeal.Summary of othercontract disputes18,020See PartXFinancialStatements-XIV-2SeePartXFinancialStatements-XIV-2See Part XFinancialStatements-XIV-2See Part XFinancialStatements-XIV-2

298、IX Punishments and RectificationsApplicable Not applicableX Credit Quality of the Company as well as its Controlling Shareholder and De FactoControllerApplicable Not applicableXI Major Related-Party Transactions1.Continuing Related-Party Transactions Applicable Not applicableRelatedpartyRelationship

299、 withtheCompanyTypeoftransactionSpecifictransactionPricingprincipleTransactionpriceTotalvalue(RMB0,000)As%oftotalvalueof allsame-typetransactionsApprovedtransactionline(RMB0,000)Overtheapprovedline ornotMethod ofsettlementObtainablemarket priceforsame-typetransactionsDisclosuredateIndextodisclosedin

300、formationShenzhenBayTechnologyDevelopmentCo.,Ltd.Wholly-ownedsubsidiaryof theCompany astheparentRelated-partytransactionsgoverningsalesofcommodityandproviding oflaborsPropertymanagementservicesMarketprincipleAgreementprice1,906.692.45%4,100NoCash1,906.6930March2022AnnouncementonEstimatedContinuingRe

301、lated-partyTransactions in2022(No.:2022-12)disclosed onCninfoShenzhenBayTechnologyDevelopmentCo.,Ltd.Wholly-ownedsubsidiaryof theCompany astheparentRelated-partytransactionsgoverningpurchase ofcommodityManagementservicesMarketprincipleAgreementprice4,321.965.55%8,100NoCash4,321.9630March2022ShenZhen

302、 Properties&Resources Development(Group)Ltd.Interim Report 202238andproviding oflaborsShenzhenShentouRealEstateDevelopmentCo.,Ltd.Wholly-ownedsubsidiaryof theCompany astheparentLeaseEntrustedmanagementservices ofhousesMarketprincipleAgreementprice2,801.252.06%7,883NoCash2,801.2030March2022Total-9,02

303、9.85-20,083-Large-amount sales return in detailN/AGive the actual situation in theReporting Period(if any)where anestimate had been made for thetotal value of continuing related-party transactions by type to occurin the Reporting PeriodThe total amount of continuing related-party transactions of the

304、 Company in 2022 isexpected to be RMB262.3998 million,and actual total amount of continuing related-partytransactions is RMB144.9672 million in H1 2022,lower than the approved line.Reasonforanysignificantdifference between the transactionprice and the market referenceprice(if applicable)N/A2.Related

305、-Party Transactions Regarding Purchase or Disposal of Assets or Equity Investments Applicable Not applicableRelatedpartyRelationshipwiththeCompanyTypeoftransactionSpecifictransactionPricingprincipleCarryingvalue ofassetstransferred(RMB0,000)Valuation ofassetstransferred(RMB0,000)(if any)Transfer pri

306、ce(RMB0,000)MethodofsettlementGain/loss onthetransaction(RMB0,000)Disclosure dateIndextodisclosedinformationShenZhenSpecialEconomicZoneRealEstate&Properties(Group)Co.,Ltd.Subsidiaryof theCompanysparentcompanyEquityacquisitionAcquisition ofequityinterestsinShenzhenPropertyManagementCo.,Ltd.Marketvalu

307、ation3,391.9719,667.6719,667.67Cash014December2021Note 1ChinaShenzhenForeignTradeWholly-ownedsubsiEquityacquisitionAcquisition ofequityinterestsinMarketvaluation1,192.062,089.882,089.88Cash014December2021Note 2ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202239(Group)Corp.Ltd.d

308、iaryof theCompanysparentcompanyShenzhenForeignTradePropertyManagementCo.,Ltd.ShenzhenShenfubao(Group)Co.,Ltd.Wholly-ownedsubsidiaryof theCompanysparentcompanyEquityacquisitionAcquisition ofequityinterestsinShenzhenShenfubaoPropertyDevelopmentCo.,Ltd.Marketvaluation2,461.695,994.225,994.22Cash014Dece

309、mber2021Note 3ShenzhenShenfubao(Group)Co.,Ltd.Wholly-ownedsubsidiaryof theCompanysparentcompanyEquityacquisitionAcquisition ofequityinterestsinShenzhenShenfubaoHydropowerMunicipalServiceCo.,Ltd.Marketvaluation2,152.562,172.972,172.97Cash014December2021ShenzhenShenfubao(Group)Co.,Ltd.Wholly-ownedsubs

310、idiaryof theCompanysparentcompanyEquityacquisitionAcquisition ofequityinterestsinShenzhen FreeTradeZoneSecurityServiceCo.,Ltd.Marketvaluation366.87378.05378.05Cash014December2021Reason for any big difference betweenthe transfer price and the carryingvalue or valuation(if any)N/AImpact on the Company

311、s operatingSee“VIII Changes to the Consolidation Scope”under“Part X Financial Statements”ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202240results and financial conditionOperating results during the ReportingPeriod(for those involving anyperformance-related agreement)N/ANote 1

312、:See Announcement No.2021-45 on Wholly-owned Subsidiarys Acquisition of 100%Equity Interests in ShenzhenProperty Management Co.,Ltd.&the Related Party Transaction,which has been disclosed on http:/ 2:See Announcement No.2021-46 on Wholly-owned Subsidiarys Acquisition of 100%Equity Interests in Shenz

313、henForeignTradePropertyManagementCo.,Ltd.&theRelatedPartyTransaction,whichhasbeendisclosedonhttp:/ 3:See Announcement No.2021-47 on Wholly-owned Subsidiarys Acquisition of 100%Equity Interests in ThreeSubsidiaries of Shenzhen Shenfubao(Group)Co.,Ltd.&the Related Party Transactions,which has been dis

314、closed onhttp:/ Transactions Regarding Joint Investments in Third PartiesApplicable Not applicableNo such cases in the Reporting Period.4.Credits and Liabilities with Related Parties Applicable Not applicableIndicate by tick mark whether there were any credits and liabilities with related parties fo

315、r non-operating purposes.Yes NoAmounts due from related parties:RelatedpartyRelationship withtheCompanyReasonCapitaloccupation for non-operatingpurposes(yes/no)Beginning balance(RMB0,000)Amountnewlyadded incurrentperiod(RMB0,000)Amountreceivedin currentperiod(RMB0,000)InterestrateCurrentinterest(RMB

316、0,000)Endingbalance(RMB0,000)ShenzhenXinhaiHoldingsCo.,Ltd.Theparentcompanyof thesubsidiaryRongyaoRealEstatesminorityshareholder XinhaiRongyaoBusinesscirculating fundsbeforeacquisitionNo40,15040,150ShenzhenXinhaiRongyaoRealEstateDevelopment Co.,Ltd.Minorityshareholder of thesubsidiaryRongyaoRealEsta

317、teBusinesscirculating fundsbeforeacquisitionNo33,047.2933,047.29ShenZhenSpecialEconomicSubsidiary of theCompanyCurrentaccountsbeforeNo2,072.232,072.23ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202241Zone RealEstate&Properties(Group)Co.,Ltd.s parentcompanyacquisitionInfluenceo

318、ntheCompanysoperatingresultsandfinancialconditionAll were within the risks control of the Company and not influenced the operating results and thefinancial conditions.Amounts due to related parties:RelatedpartyRelationwith theCompanyFormationreasonBeginningbalance(RMB0,000)Amountnewlyadded incurrent

319、period(RMB0,000)Amountreturned incurrentperiod(RMB0,000)Interest rateCurrentinterest(RMB0,000)Endingbalance(RMB0,000)ShenzhenJifaWarehouseCo.,Ltd.Joint ventureCurrentaccount3,879.673504,229.67ShenzhenTiananInternational BuildingPropertyManagement Co.,Ltd.Joint ventureCurrentaccount521.43521.43Influe

320、nceontheCompanysoperatingresultsandfinancialconditionAll were within the risks control of the Company and not influenced the operating results and thefinancial conditions.5.Transactions with Related Finance CompaniesApplicable Not applicableThe Company did not make deposits in,receive loans or credi

321、t from and was not involved in any other finance business with anyrelated finance company or any other related parties.6.Transactions with Related Parties by Finance Companies Controlled by the CompanyApplicable Not applicableThe finance company controlled by the Company did not make deposits,receiv

322、e loans or credit from and was not involved in anyother finance business with any related parties.7.Other Major Related-Party TransactionsApplicable Not applicableNo such cases in the Reporting Period.ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202242XII Major Contracts and Ex

323、ecution thereof1.Entrustment,Contracting and Leases(1)EntrustmentApplicable Not applicableNo such cases in the Reporting Period.(2)ContractingApplicable Not applicableNo such cases in the Reporting Period.(3)LeasesApplicable Not applicableNo such cases in the Reporting Period.2.Major guarantees Appl

324、icable Not applicableUnit:RMB0,000Guarantees provided by the Company as the parent and its subsidiaries for external parties(exclusive of those for subsidiaries)ObligorDisclosure dateof theguarantee lineannouncementLine ofguaranteeActualoccurrence dateActualguaranteeamountType ofguaranteeCollateral(

325、if any)Counter-guarantee(if any)Term ofguaranteeHavingexpiredor notGuarantee for arelatedparty ornotGuarantees provided by the Company for its subsidiariesObligorDisclosure dateof theguarantee lineannouncementLine ofguaranteeActualoccurrence dateActualguaranteeamountType ofguaranteeCollateral(if any

326、)Counter-guarantee(if any)Term ofguaranteeHavingexpiredor notGuarantee for arelatedparty ornotShenzhenRongyaoRealEstateDevelopmentCo.,Ltd.18October2019500,00027November 2019336,547Joint-liabilitySecuritydeposit2019.11.27-2024.11.20NoYesTotal approved linefor such guaranteesintheReportingPeriod(B1)To

327、tal actual amountof such guarantees inthe Reporting Period(B2)0Total approved linefor such guaranteesat the end of the500,000Total actual balanceof such guarantees attheendofthe336,527ShenZhen Properties&Resources Development(Group)Ltd.Interim Report 202243ReportingPeriod(B3)ReportingPeriod(B4)Guara

328、ntees provided between subsidiariesObligorDisclosure dateof theguarantee lineannouncementLine ofguaranteeActualoccurrence dateActualguaranteeamountType ofguaranteeCollateral(if any)Counter-guarantee(if any)Term ofguaranteeHavingexpiredor notGuarantee for arelatedparty ornotTotal guarantee amount(tot

329、al of the three kinds of guarantees above)Total guarantee lineapprovedintheReportingPeriod(A1+B1+C1)Totalactualguarantee amount inthe Reporting Period(A2+B2+C2)0Totalapprovedguarantee line at theend of the ReportingPeriod(A3+B3+C3)500,000Totalactualguarantee balance attheendoftheReportingPeriod(A4+B

330、4+C4)336,527Total actual guarantee amount(A4+B4+C4)as%of the Companys net assets81.33%Of which:Balance of debt guarantees provided directlyor indirectly for obligors with an over 70%debt/asset ratio(E)336,527Total of the three amounts above(D+E+F)336,527Compound guarantees:3.Cash Entrusted for Wealt

331、h ManagementApplicable Not applicableNo such cases in the Reporting Period.4.Other Major ContractsApplicable Not applicableNo such cases in the Reporting Period.XIII Other Significant Events Applicable Not applicable(I)Matters on winning of the bid for land use rightOn 18 February 2022,the Company a

332、nd Yangzhou Lvfa Real Estate Co.,Ltd.,by joint bidding,won the state-owned land useright of No.GZ342 land plot in Pingshan Township,Yangzhou at a price of RMB835,352,910 in the online listing auction ofstate-owned construction land use right in Yangzhou.For details,see the Announcement on Winning of

333、 the Bid for Land UseRight(Announcement No.:2022-02)disclosed by the Company on Cninfo()on 19 February 2022.(II)Matters on appointment of senior managers of the CompanyThe Company held the Sixth Meeting of the 10th Board of Directors on 21 February 2022,where the Proposal on Appointment ofGeneral Manager of the Company,the Proposal on Appointment of Deputy General Manager and Officer in Charge of