[中报]深物业B(200011):2024年半年度报告（英文版）
原标题:深物业B:2024年半年度报告（英文版） INTERIMREPORT2024 （AnnouncementNo.2024-34） 【August2024】 PartIImportantNotes,TableofContentsandDefinitions TheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisors and senior management of ShenZhen Properties & Resources Development(Group)Ltd.(hereinafterreferredtoasthe“Company”)herebyguaranteethefactuality,accuracyandcompletenessofthecontentsofthisReportanditssummary,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein. Liu Shengxiang, the Company’s legal representative, Cai Lili, the Company’s head offinancialaffairs,andCaiKelin,headoftheCompany’sfinancialdepartment(equivalenttofinancialmanager)herebyguaranteethattheFinancialStatementscarriedinthisReportarefactual,accurateandcomplete. AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary. ThisReportinvolvesthedescriptionsofbusinessplansorarrangementsforthefuture.Astheimplementationoftherelevantplansorarrangementsissubjecttoavarietyoffactors,thesedescriptionsdonotconstitutetheCompany'ssubstantivecommitmentstoinvestors.Investorsand other stakeholders should maintain sufficient risk awareness, and understand thedifferencebetweentheplans,forecastsandcommitments. TheCompanyhasnointerimdividendplan,eitherintheformofcashorstock.ThisReportanditssummaryhavebeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionsshallprevail. TableofContents PartIImportantNotes,TableofContentsandDefinitions...........................................................2 PartIICorporateInformationandKeyFinancialInformation...................................................6 PartIIIManagementDiscussionandAnalysis................................................................................9 PartIVCorporateGovernance.......................................................................................................26 PartVEnvironmentalandSocialResponsibility..........................................................................28 PartVISignificantEvents...............................................................................................................29 PartVIIShareChangesandShareholderInformation................................................................40 PartVIIIPreferredShares..............................................................................................................45 PartIXBonds...................................................................................................................................46 PartXFinancialStatements............................................................................................................47 DocumentsAvailableforReference I.ThefinancialstatementswiththesignaturesandstampsoftheCompany’slegalrepresentative,headoffinancialaffairsandheadofthefinancialdepartment;and II.TheoriginalsofalltheCompany’sdocumentsandannouncementsdisclosedtothepublicvianewspapersdesignatedbytheCSRCintheReportingPeriod. Definitions
ICorporateInformation
1.ContactInformationoftheCompany Indicatebytickmarkwhetheranychangeoccurredtotheregisteredaddress,officeaddressandtheirzipcodes,websiteaddress, emailaddressandothercontactinformationoftheCompanyintheReportingPeriod.□Applicable?Notapplicable NochangeoccurredtothesaidinformationintheReportingPeriod,whichcanbefoundinthe2023AnnualReport.2.MediaforInformationDisclosureandPlacewherethisReportisKeptIndicatebytickmarkwhetheranychangeoccurredtotheinformationdisclosuremediaandtheplaceforkeepingtheCompany’s periodicreportsintheReportingPeriod. □Applicable?Notapplicable Thewebsiteofthestockexchange,mediaandotherwebsiteswheretheCompany’speriodicreportsaredisclosed,aswellasthe placeforkeepingsuchreportsdidnotchangeintheReportingPeriod.Thesaidinformationcanbefoundinthe2023Annual Report. 3.OtherInformation IndicatebytickmarkwhetheranychangeoccurredtootherinformationintheReportingPeriod.□Applicable?Notapplicable IVKeyFinancialInformation Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow.□Yes?No
1.NetProfitandEquityDifferencesunderCASandIFRS □Applicable?Notapplicable NosuchdifferencesfortheReportingPeriod. 2.NetProfitandEquityDifferencesunderCASandForeignAccountingStandards□Applicable?Notapplicable NosuchdifferencesfortheReportingPeriod. VIExceptionalGainsandLosses ?Applicable□Notapplicable Unit:RMB
Thepreferentialpolicyinrelationtoover-deductioninVATcalculationexpiredon31December2023.Thisincomedoesnot continuetoimpacttheCompany’sgainsandlosses.Therefore,theadjustmentonthismatteraccordingtotheactualfiledfigurein 2024hasbeenpresentedinexceptionalgainsandlosses. ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemlistedintheExplanatoryAnnouncement No.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems: □Applicable?Notapplicable NosuchcasesfortheReportingPeriod. PartIIIManagementDiscussionandAnalysis IPrincipalActivityoftheCompanyintheReportingPeriod (I)CoreBusinessOverview Establishedin1982,theCompanywasoriginallyknownas"LuohuEngineeringandConstructionHeadquarters"andrenamed "ShenzhenMunicipalPropertyDevelopmentCorporation"inAugust1985.TheCompanywasdeterminedasthesecondbatchof pilotunitsforjoint-stockreformofstate-ownedenterprisesin1988.Approvedbythemunicipalgovernment,theCompanyrenamed toShenZhenProperties&ResourcesDevelopment(Group)Ltd.in1990.Thestockofthegroupcompany(stockname:SZPRD,A/B; stockcode:000011,200011)wasofficiallylistedinShenzhenStockExchangeinMarch1992.TheCompanycontractedandbuiltShenzhenInternationalTradeCenterBuildingasPartyAandcreated,planned,andorganizedthe world-famous"ShenzhenSpeed".ThebuildingwastheplacewhereChairmanDengXiaopinggavetalksinhisinspectiontothe south.SZPRDcameintobeingbecauseofthebuildingandhasrisenamidtheReformandOpeningupcampaign.Emergingand growingtogetherwithShenzhen,acityofmiracles,theCompanyhasbeen“aloyalpractitionerofthespiritoftheox”andovercome difficultiesinproposingnewservicesinthenewera.Sofar,theCompanyhasgrownintoalargecomprehensiveindustrialgroup fromtheprojectcompanythatbuiltShenzhenInternationalTradeCenterBuilding.Inthenewera,theCompanysizesupthe situation,seizesthemomentumandforgesaheadtowardthegoalandvisionofbecominga"leadingsmartoperatorofindustry-city spaceinChina". 1.Industrial&urbanspacedevelopment Intermsofthespacedevelopmentsegment,theCompanyisspecializedindevelopingtheresidence,thehi-endapartment,theoffice building,andtheindustrialparkandhasdevelopedabatchofbrandprojects,includingShenzhenInternationalTradeCenter Building,HuanggangPort,Tian'anInternationalBuilding,QianhaiGangwanGarden,andGoldenCollarHoliday.Basedonits presentrealestatedevelopmentbusiness,theCompanywillimproveitsexistingportfolioandplanfornewbusinesses.Itwillengage anumberofsubsidiariesinpropertydevelopmentandurbanrenewals,includingHuangchengRealEstate,RongyaoRealEstate,and WuheUrbanRenewal,strengthencapitaloperationviathelistingplatform,andmakeareasonablelayoutofthecityspace developmentsegment.IntheReportingPeriod,theGroupsteadilyadvancedthedevelopmentprojectsinsideandoutsideShenzhen, acceleratedthesalesofprojectsandspedupcashinflow.Moreover,itfocusedonthedevelopmentandconstructionofindustry-city complexesandacceleratedtocreateanintegratedandco-existingmodelforthedevelopmentofboutiqueurbanresidencesandhigh- endindustryspace. 2.Propertymanagementservices TheCompany'spropertymanagementsegmenttakesITCPropertyManagementasitsplatform.AsChina’sfirstbatchoffirst-class qualifiedenterprisesinpropertymanagement,ITCPropertyManagement,aftermorethan30yearsofdevelopment,hasbecomea domesticfirst-classpropertyserviceproviderwithdiversifiedbusinesscapabilitiesandtechnologicalstrength,andhasbeenawarded "Top100NationalPropertyManagementEnterprises"and"ExcellentEnterpriseofPropertyManagementinChina'sIndustrial Parks"formanyyearsinarow.Theprojectsunderitsmanagementarealloverthecountry,anditsbusinessradiatestovarious regionsinChina,suchasSouthChina,SouthwestChina,EastChinaandNorthChina,aswellastheChina-VietnamCooperation ZoneinVietnam.TheCompany'sexistingbusinesshascoveredindustrialparks,culturaltourismscenicspots,governmentagencies, railtransportation,housing,hospitals,schools,hotelsandothervariousbusinessmodels,andisplanningtodevelopthebusinessof grassrootssocialgovernance.TheCompanycollaboratedwiththegovernmenttocreateasafe,harmonious,civilizedandorderly urbanenvironment,basicallyformingapatternofintegrateddevelopmentofmultiplebusinessmodels.Therearemorethan20 subsidiariesunderITCPropertyManagement,andwiththefunctionaldepartmentsoftheheadquartersastheplatform,ithasactively builtthreecentersof"market,empowermentandsupervision",andformedthreebusinesscentersandprofitcentersofspecialized newpatternofcoordinateddevelopmentof"1+1>2".DuringtheReportingPeriod,thetotalmanagedpropertieshaveexceeded42 millionsquaremeters.Notably,thescaleofoperationalmanagementforhigh-endindustrialparksispredictedtoretainitsexalted statusamongdomesticindustrialparkoperations. 3.Industrialecosystemoperation Withrespecttotheindustrialecosystemoperationsegment,theCompanygavefullplaytoitsfoundationinthethreebasicindustries, namely,realestatedevelopment,propertymanagement,andleasingandtheadvantageofthewholeindustrychain,focusedonthe twomajorstrategiesof“value-addedoperationofexistingassets”and“light-assetoperationoutput”,anddeepenedinternaland external strategiccooperation.Itiscommitted tocreatingaclosedloopofthewholeindustrialecosystem, coveringproject developmentservices,parkoperationservices,andsupportingrentaloperations,andkeepingimprovingthespaceserviceandrental ecosystemintheindustrialpark.Auniqueandmaturebusinessdevelopmentmodelhasbeenputinplacewiththecapabilityand experienceofthewholechainofplanning,dismantling,constructioncontrol,businessinvitation,operation,andon-sitemanagement withrespecttovariousassets.TheCompanyisexpeditingthestocktakingandassessmentofitspropertiesinstockandstrengthening themanagementoverthem.Inthefuture,itwillgraduallyexpandthescopeofleasingandraisethedevelopmentcapabilityof propertyrental.Moreover,theCompanygraduallyshiftsthefocusofindustrialecosystemoperationtosci-techparks,provides supportingservicescoveringthewholevaluechain,suchastheimportofindustrialecosystem,projectdevelopmentservices,and parkoperationservices,andservestheroleof"spaceserviceprovider"centeringonsci-techparks.DuringtheReportingPeriod, GuomaoSpring,whichisresponsibleforthemanagementandoperationoftheGroup'scommercialprojects,wasestablishedtotake theopportunityof therenovation project of theGuomao ShoppingMall tobuildtheCompany’sown commercial property managementbrand. 4.Otherbusiness IntheReportingPeriod,theCompany'sbusinessesalsoincludedcateringserviceandprojectsupervisionservice.Thecatering serviceisoperatedbyShenzhenGuomaoCateringCo.,Ltd.GuomaoCateringCo.,Ltd.,establishedin1986,becamefamousat homeandabroad,asitwastheplacewherePresidentDengXiaopinggavetalksduringhisinspectiontothesouthin1992.Sinceits establishment,ithasreceivedmorethan600countryleaders,famouspeople,andnumerousdomesticandoverseasguests,withits reputationspreadingallovertheworld.Theprojectsupervisionserviceishandledbythesubordinatedsupervisioncompanyofthe Group.ThecompanyhastheGradeAsupervisionqualificationofbuildingworksoftheMinistryofHousingandUrban-Rural Development(MOHURD).ItwasoriginallyknownasShenzhenPropertyEngineeringManagementDepartment,andtakespartin theconstructionandmanagementworkofShenzhenInternationalTradeCenterBuilding.Itisawitnessofthewholeprocessof "Shenzhenspeed",andmainlyservesforthedevelopmentprojectsoftheGroup.TheCompanyissubjecttotheinformationdisclosurerequirementsfortherealestateindustryintheSelf-Disciplinaryand RegulatoryGuidelineNo.3oftheShenzhenStockExchangeforListedCompanies—Industry-specificInformationDisclosure. (II)IndustryReview 1.Realestateindustry Inthefirsthalfof2024,themacro-economicoperationcontinuedthedevelopmenttrendofoverallstabilityandsteadyprogress. Undertheguidanceofthepolicythat"housesareforlivingin,notforspeculation",therehasbeenashiftfromlanddividendsto managementdividendsintherealestateindustry,andthedemandsideoftherealestatemarketremainsinthedownwardchannel. Therealestatepoliciesasawholecontinuedtopresentalooselandscapethathadexistedsincetheendoflastyear,andadheredto the synergy of five endeavours, i.e., boosting demands, preventing risks, guaranteeing people's livelihood, transforming development patterns and standardising administration. InApril, the meeting of the Political Bureau of the CPC Central Committeedeterminedtheorientationsofhousingpolicies,andputforward"acoordinatedresearchonpoliciesandmeasuresto digestexistingrealestateandoptimizehousingincrement".InMay,thenew"package"ofpoliciesforrealestatehighlighted stabilisingmarketanddestocking.InJune,theexecutivemeetingoftheStateCouncilonceagainmadeitclearthat"inresponseto suchdutiesasdigestionandactivationofexistingrealestateandland,weshallemancipateourmindandexplorenewthinking Intermsoftheregionalmarket,theHousingandConstructionBureauofShenzhenMunicipalityissuedtheNoticeonOptimising thePolicyofHousingPurchaseRestrictioninFebruarytobettermeetresidents'demandsforrigidandimprovedhousing.InMay, theHousingandConstructionBureauofShenzhenMunicipalityissuedtheNoticeonFurtherOptimisingtheRealEstatePolicies, whichcoverssuchcontentsasthepolicyofdistrict-basedoptimisationofhousingpurchaserestriction,thepolicyofadjustmentof enterprises' and public institutions' purchase of commercial houses, and facilitation of second-hand housing transaction. Meanwhile,pursuanttothespiritofsuchpoliciesastheNoticeofthePeople’sBankofChinaandthePRCStateAdministration forFinanceRegulationonAdjustingthePolicyofMinimumDownPaymentPercentagesforPersonalHousingLoansandthe NoticeofthePeople’sBankofChinaonAdjustingthePolicyofLendingRatesforCommercialPersonalHousingLoansaswell astheprincipleofimplementingcity-specificpolicies,ShenzhenMunicipalityhasdowngradedtheminimumdownpayment percentagesforpersonalhousingloansandthelowestlendingratessince29May.Inthefaceofchangesinindustrypoliciesanddevelopmenttrends,mainstreamrealestateenterprisesaregraduallymakingefforts indiversifiedbusinesslayouts.Atpresent,mainstreamrealestateenterpriseshavealreadyenteredandformedstableindustry patterninmanyrelevantfieldsotherthanresidentialdevelopmentandsales,suchaspropertymanagement,commercialproperty, andlogisticsrealestate.Additionally,sub-industriessuchaselderlycare,educationandagencyconstructionhavealsoachieved certaindevelopment.Theindustryhasaccelerateditstransformationfromrealestatetoimmovableproperty,graduallyshifting fromthescale-drivenadvantageformedbyresidentialdevelopmentandsalestotheintegrationofdevelopment,operationand service. 2.Propertymanagementindustry Inrecentyears,drivenbycontinuedurbanization,consumptionupgradeandencouragingpolicies,andoverlaidwithtechnological empowermentandcapitaldividends,thepropertymanagementindustryhasdevelopedrapidly.Nationalandlocalgovernments promulgatednumerouspoliciestoencouragethedevelopmentofcommunityeldercare,childcare,propertymanagement,domestic services,catering,retailandotherdiversifiedlifeservices,whichmarksthatscaleandboundaryexpansionremainsthemain themeinthedevelopmentofthepropertymanagementindustry.Nevertheless,undertheimpactofchangesinrealestatemarket environmentandotherfactors,theexpansionrateofmanagementscaleofthepropertymanagementindustrysloweddown,and howtoimprovesmartmanagementandforgesmartcommunitiesbecameoneofthemajordevelopmentdirectionsfortheenterprises.Therefore,thepropertymanagemententerprisesshouldenrichtheirknowledgeofthemarketandtheindustryand adjusttheirstrategiesandbusinesspatternspromptlytoadapttochangesinmarketandcustomers'demands.Meanwhile,they shouldstrengthentheintroductionoftalentsproficientinmanagementandtechnologyandimprovetheirtrainingandmanagement toenhancetheircorecompetitivenessandinnovationcapability. (III)OperatingPerformanceoftheCompanyintheReportingPeriod TheCompanycloselyfocusesontheimplementationofthekeyworkdeploymentformulatedatthebeginningoftheyear,making smoothandorderlyprogressinvariousaspects.DuringtheReportingPeriod,theCompanyachievedoperatingrevenueof approximatelyRMB860millionandagrossprofitofapproximatelyRMB6.18million,andallotherindicatorssuchasexpenses andtotalremunerationswereundereffectivecontrol. In the real estate development segment: First, theCompany adhered to theguiding principle of "seeking progress while maintainingstability,promotingstabilitythroughprogress,stabilitywithinitiative,andeffectivenessinprogress",rigorously implementedtheprincipleof"determiningproductionbasedonsalesanddeterminingexpensesbasedonincome",andputmajor expensesundereffectivemanagement,therebyprudentlyadvancingthedevelopmentandconstructionoftheYutangShangfu project,LanhuShidaiproject,SeaBayGardenproject,andShenyangDigitalTownproject;second,theCompanyconducted activeresearchesonthemarket,probedintocustomerneeds,andseizedthemarketwindowtostrengthenmarketingmeasuresand promotedestockingoftheprojects;third,theCompanyoptimiseditsproductdesignandproductstructure,forgedthehard strength of products in the "buyer's market", improved the soft strength of services, and enhanced the Company's core competitiveness;fourth,theCompanyimprovedthecost-efficiencyratioofmarketingexpenses,andenhanceddestockingand Inthepropertymanagementsegment:First,theCompanymadeeffortstostreamlinetheHeadquarters'organisationalstructureand dividerelevantrightsandresponsibilities,establishedamorescientificandreasonablemanagementsystem,andgavefullplayto theHeadquartersasthe"marketcentre,empowermentcentreandregulatorycentre",therebyboostingtheengineforhigh-quality development;second,theCompanyadvancedtheintegrateddevelopmentbetweendifferentsegmentsinasystematicmanner, cultivatedandimproveditscorebusinesscapacityinallaspects,establishedrulesandregulationstobuildplatformsanddeepen integratedandcollaborativedevelopment,andleveragedcomplementaryadvantagesthroughmutualfacilitation,whichfully demonstratedasynergyeffectfeaturing"1+1>2";third,theCompanyactivelyexpandedthevalue-addedpropertymanagement services,engagedinpilotoperationof"communitystore"business,exploredintegratedbusinessofcultureandtourism,and developedaseriesofcity-themedculturalandcreativeproducts. Inthepropertyrentalsegment,theCompany,ontheonehand,madealleffortstoensureandstabiliserentalandtoadvanceasset upgradingandtransformationforhigherefficiency.Ontheotherhand,theCompanyestablishedGuomaoSpringinchargeof managementandoperationoftheGroup'sbusinessprojectsbyseizingtheopportunityofthetransformationprojectforthe GuomaoShoppingMall,sparednoeffortstoadvanceallpreliminaryworkforoperationofthemall,andmadetentativeeffortsto builditsowncommercialpropertymanagementbrand. Newadditionstothelandbank:
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