Securitiescode:000011,200011Securitiesabbreviation:SZPRDA,SZPRDBAnnouncementNo.:2026-05Summaryof2025AnnualReportofShenzhenProperties&ResourcesDevelopment(Group)Ltd.
I.ImportantnotesThesummaryoftheannualreportisextractedfromthefulltextoftheannualreport.InordertofullyunderstandtheCompany'soperatingresults,financialstatusandfuturedevelopmentplans,investorsshouldcarefullyreadthefulltextoftheannualreportonthemediadesignatedbytheCSRC.Alldirectorsattendedtheboardmeetingatwhichthisreportwasconsidered.Promptofamodifiedreport
□Applicable?NotapplicableProposedprofitdistributionplanortheproposalforcapitalizationofreservestoincreasesharecapitalforthereportingperioddeliberatedbytheBoardofDirectors?Applicable?NotapplicableWhethertoconvertcapitalreservestocapitalshares?Yes?NoTheBoardhasapprovedafinaldividendplanasfollows:basedonthetotalsharecapitalof595,979,092shares,acashdividendofRMB0.20(taxinclusive)per10sharesistobedistributedtotheshareholders,withnobonusissuefromeitherprofitorcapitalreserves.ProposedprofitdistributionplanforpreferredsharesforthereportingperiodresolvedbytheBoardofDirectors
□Applicable?NotapplicableII.BasicinformationoftheCompany
1.Companyprofile
| Abbreviation | SZPRDA,SZPRDB | Stockcode | 000011、200011 |
| Stockexchange | ShenzhenStockExchange | ||
| Stocknamebeforethechange(ifany) | Notapplicable | ||
| Contactandcontactinformation | SecretaryofBoardofDirectors | Securitiesaffairsrepresentative | |
| Name | ZhangGejian | ChenQianying | |
| Officeaddress | Floor20,InternationalTradeCenterBuilding,RenminSouthRoad,LuohuDistrict,ShenzhenCity,GuangdongProvince | Floor39,InternationalTradeCenterBuilding,RenminSouthRoad,LuohuDistrict,ShenzhenCity,GuangdongProvince | |
| Fax | 0755-82210610、82212043 | 0755-82210610、82212043 | |
| Tel. | 0755-82211020 | 0755-82211020 | |
| 000011touzizhe@szwuye.com.cn | 000011touzizhe@szwuye.com.cn | ||
2.Introductiontomainbusinessorproductsduringthereportingperiod(I)Overviewofmainbusiness
SZPRDwasestablishedin1982.ItwasformerlyknownasLuohuEngineeringConstructionHeadquarters.InAugust1985,itwasrenamedShenzhenPropertiesDevelopmentCorporation.In1988,itwasidentifiedbyShenzhengovernmentasthesecondbatchofstate-ownedenterprisestopilotthejoint-stockreform.In1990,itcompletedthejoint-stockreformandwasofficiallyrenamedShenzhenProperties&ResourcesDevelopment(Group)Ltd.InMarch1992,theCompany'sstock(SZPRDA/SZPRDB,000011/200011)wasofficiallylistedontheShenzhenStockExchange.SZPRD,asPartyAoftheconstructionoftheInternationalTradeCenterBuilding,playedaleadingroleinorchestratingtheentireprocessofitsconstructionandoperation.Itisakeycreatorandorganizeroftheworld-renowned"ShenzhenSpeed".TheInternationalTradeCenterBuildingisalsofortunatetohavebecomeanimportanthistoricsiteofDENGXiaoping'sworld-renowned"southtourspeeches".TheCompanywasfoundedastheInternationalTradeCenterBuildingwasestablishedandthrivedthroughChina'sreformandopening-up,growingalongsidethemiraculouscityofShenzhen.Ithasbecomeasteadfastpractitionerofthe"pioneercattle"spiritinthenewera,dedicatedtoinnovativeservices,andovercomingchallenges.TheemployeesofSZPRDupholdthespiritof"daringtobethefirstandstrivingforstrengththroughreformandinnovation",focusonthefunctionalpositioningofstate-ownedassetsof"servingtheoverallsituation,servingthecity,servingtheindustry,andservingthepeople'slivelihood",sticktotheoriginalaspiration,andforgeaheadwithperseverance.TheCompanyhasnowdevelopedfromaprojectcompanywhenitfirstbuilttheInternationalTradeCenterBuildingtoalarge-scalecomprehensiveindustrialgroup.Intheneweraandnewstage,theCompanyassessesthesituationandactsaccordingly,strivingtomoveforwardtowardsthegoalofbecoming"China'sleadingsmartoperatorofindustrialandurbanspace".
1.IndustrialandurbanspacedevelopmentTheCompany'sspacedevelopmentsectoriscommittedtothedevelopmentofdifferentbusinessformatssuchasresidentialbuildings,high-endapartments,officebuildings,andindustrialparks.IthasbrandprojectssuchasITCBuilding,HuanggangPort,Tian'anInternationalBuilding,QianhaiPort,andJinlingHoliday.Basedontheexistingrealestatedevelopmentbusiness,theCompanywillpromotethestockoptimizationandincrementdevelopmentandconstructionsimultaneously.Takingthesubordinatecompanies,suchasHuangchengRealEstate,RongyaoRealEstateandWuheUrbanRenewal,asthedevelopmentandurbanrenewalentities,theCompanywillrelyonitslistingplatformtoincreasecapitaloperationandrationallyallocateurbanspacedevelopmentsectors.Duringthereportingperiod,allprojectsonsalehadtheirpromotionstrategiesadjustedinatimelymanneraccordingtomarketconditions,ensuringadynamicmatchbetweencapitalinvestment,constructionpace,andmarketdestockingwhilegoingallouttocompletetheannualsalescollectiontask.
2.PropertymanagementserviceTheCompany'spropertymanagementsegmentisbasedonInternationalTradeCenterPropertyManagement.Asoneofthefirstbatchofnationalfirst-classpropertymanagementqualifiedenterprises,InternationalTradeCenterPropertyManagementhas,aftermorethan30yearsofdevelopment,becomeadomesticfirst-classpropertyserviceproviderwithdiversifiedbusinesscapabilitiesandtechnologicalstrength.Ithasbeenratedas"Top100propertymanagementEnterprisesinChina"and"ExcellentEnterpriseforChinaIndustrialParkPropertyManagement"formanyyearsinarow.Theprojectsunderitsmanagementarespreadalloverthecountry,anditsbusinessradiatestovariousregionsofthecountry,includingSouthChina,SouthwestChina,EastChina,NorthChina,aswellastheVietnam-VietnamCooperationZone.Theexistingbusinesshascoveredvariousformatssuchasindustrialparks,culturaltourismscenicspots,governmentagencies,railtransit,housing,hospitals,schools,hotels,etc.,andisbeingarrangedtoenterthefieldofgrassrootssocialgovernance,cooperatewiththegovernmenttocreateasafe,harmonious,civilizedandorderlyurbanenvironment,andbasicallyformagoodpatternofmulti-formatcomprehensivedevelopment.InternationalTradeCenterPropertyManagementhasmorethan20subsidiaries,leveragingitsheadquarters'functionaldepartmentsasaplatformtoactivelybuildthreemajorcenters,namely"market,empowerment,andsupervision".Ithasestablishedbusinesscentersandprofitcentersbasedonthethreemajormodulesfeaturingprofessionalbusinesscompanies,professionalcompanies,andregionalcompanies,aimingtoachieveasustainableandeffective"1+1>2"coordinateddevelopmentnewpattern.
3.Industrialecologicaloperation
TheindustrialecologicaloperationsectormakesfulluseoftheCompany'sdevelopmentfoundationandentireindustrialchaindevelopmentadvantagesinthethreebasicindustriesofrealestatedevelopment,propertymanagementandleasing,focusesonthetwostrategicstartingpointsof"value-addedoperationofstockassets"and"lightassetoperationoutput",strengthensinternalandexternalstrategiccooperation,iscommittedtobuildingaclosed-loopofthewholeindustryecologycoveringprojectdevelopmentservices,parkoperationservices,supportingleasingoperations,etc.,continuouslyoptimizesthespaceserviceandleasingecosysteminthepark,andhasinitiallypossessedthewholechaincapabilitiesandexperienceofvariousassetsfromtheearlyplanning,projectclearance,constructioncontrol,investmentpromotion,operation,on-sitecontrol,etc.,formingauniqueandmaturebusinessdevelopmentmodel.TheCompanyisacceleratingtheinventoryandevaluationofexistingpropertiesandstrengtheningmanagement.Inthefuture,itwillgraduallyexpandthescopeofitsleasingbusinessandenhancepropertyleasingdevelopmentcapabilities.Onthisbasis,itwillgraduallyshiftthefocusofitsindustrialecologicaloperationstoscienceandtechnologyparks,providingsupportingservicesfortheentirevaluechain,includingindustrialecologicalintroduction,projectdevelopmentservices,andparkoperationservices,toshapetheroleofa"spaceserviceprovider"withscienceandtechnologyparksasthecore.
4.OtherbusinessDuringthereportingperiod,theCompany'sbusinessalsoincludescateringbusinessandprojectsupervisionbusiness.ThecateringbusinessisoperatedbyShenzhenGuomaoCateringCo.,Ltd.GuomaoCateringwasestablishedin1986andbecamefamousathomeandabroadastheplacewherethe"SouthernTourSpeech"wasdeliveredin1992.Sinceitsopening,ithasreceivedmorethan600Chineseandforeigndignitaries,celebritiesandcountlessChineseandforeignguests,anditsreputationhasspreadfarandwidebothathomeandabroad.Theengineeringsupervisionbusinessisoperatedbyasupervisioncompany,whichhasClassAsupervisionqualificationforhousingconstructionprojectsfromtheMinistryofConstruction.ItspredecessorwastheSZPRDManagementDepartment.ItwasdirectlyinvolvedintheconstructionandmanagementoftheShenzhenInternationalTradeBuildingandwitnessedtheentireprocessofcreatingthe"ShenzhenSpeed".Ithaslongbeenmainlyservingthegroup'sdevelopmentprojects.(II)Industrydevelopmentchanges,marketcompetitionpatternandtheCompany'spositionintheindustry
1.IndustrydevelopmentstatusIn2025,theglobalrealestatemarketshowedadivergentperformance,withhousingpricesinsomedevelopedeconomiesremainingresilient,whileemergingmarketsgenerallyfacingpressure.Capitalflowsandmarketsentimentinthedomesticmarketwerestillaffectedbychangesinglobalmonetarypolicy.TheChineseeconomyexperiencedamoderaterecovery,andrealestate,asanimportantpillar,continuedtoplayasupportingrole.Atthecentrallevel,thepolicyorientationof"stabilizingexpectations,reducinginventoryandoptimizingsupply"wasstrengthened,andacombinationofmeasures,suchaspurchasingexistinghousingforaffordablehousing,optimizingthehousingprovidentfund,andloweringdownpaymentsandinterestrates,wasusedtosystematicallysupportthemarket.Thereformofthehousingprovidentfundsystemwascomprehensivelydeepened,andtheconstructionof"goodhouses"wasincludedinthenationalactionplantopromotetheimplementationofstandardsforsafe,comfortable,greenandsmarthousing;thewhitelistmechanismfor"guaranteeinghousingdelivery"continuedtoexpand,ensuringprojectfinancinganddelivery.Atthesametime,weexploredwaystorevitalizetheexistinglandandhousing,promotedurbanrenewalandtherenovationofdilapidatedhouses,andbuiltanewdevelopmentmodelcenteredon"allocatinghousingbasedonpopulationandfundingbasedonhousing".Thepolicypackageexertedsynergisticeffectsfromboththesupplyanddemandsides,markingtheindustry'sacceleratedtransitionfromtheoldhigh-leveragecycletoanewstageofhigh-qualityandsustainabledevelopment.
2.IndustrypolicyenvironmentIn2025,thenationalrealestatemarketcontinueditsoveralladjustmenttrend.Sincethesecondquarter,thesalesofnewhouseshaveshownamarginalweakeningtrend.Thesecond-handhousingmarkethasbeencontinuously"reducingpricestoincreasesalesvolume",andtheoverallmarketisstillintheprocessof"stabilizingafteradecline".InAugust,theStateCouncilmeetingreaffirmedtheneedto
"takeeffectivemeasurestoconsolidatethetrendoftherealestatemarketstabilizingandrecoveringfromdecline",sendingoutapositivesignal.InOctober,itwasclearlystatedinthe"Recommendationsforthe15thFive-YearPlan"thatitisessentialto"promotethehigh-qualitydevelopmentofrealestate",andproposedtocleanupunreasonablerestrictivemeasuresonhousingconsumption.InDecember,itwaspointedoutonameetingofthePoliticalBureauoftheCPCCentralCommitteethat"theeconomicworkinthenextyearshouldadheretotheprincipleofseekingprogresswhilemaintainingstability,improvingqualityandefficiency,continuetoimplementamoreproactivefiscalpolicyandamoderatelyloosemonetarypolicy,leveragetheintegratedeffectsofexistingandincrementalpolicies,increasecounter-cyclicalandcross-cyclicaladjustments,andeffectivelyenhancemacroeconomicgovernanceeffectiveness,"andemphasizedthat"wemustadheretodomesticdemandasthemainstayandbuildastrongdomesticmarket,"settingthetoneformacroeconomicpolicyin2026.Demand-sidepolicieshavebeensynergisticallyimplementedfrommultipledimensionstoactivatethemarket.Corecitieshavecompletelyliftedpurchaseandsalesrestrictions,andthethresholdfornon-householdresidentstopurchasehomeshasbeensignificantlylowered;theweightedaverageinterestrateforpersonalhousingloanshasdecreased,thedownpaymentratioforfirst-timehomebuyershasbeenlowered,andtheinterestratesonexistingmortgageloanshavecontinuedtodecline;theindividualincometaxrefundpolicyforexchangingoldhousesfornewoneshasbeenextendeduntil2027.Thevalue-addedtaxisexemptedforhousesthathavebeenownedforatleast2years,andisreducedto3%forthosethathavebeenownedforlessthan2years.Theprovidentfundpolicyhasbeencontinuouslyoptimizedalongthreemaindirections:"supportingfamilieswithmultiplechildren","expandingusageacrossdifferentregions",and"expandingthescopeofwithdrawals".Thishasdriventheprovidentfundtotransformfrombeing"exclusiveforhomepurchases"to"providingsupportthroughouttheentireperiodofresidence".Encouragingthepurchaseofexistingcommercialhousingforaffordablehousing,therebyreleasingthedemandforimprovement.Thepoliciesaccuratelyfocusonnewurbanresidents,multi-childfamilies,andhome-swappinggroups,promotingthemarket'stransformationfrom"rigiddemand-led"to"qualityimprovement,"andenhancingresidents'willingnessandabilitytopurchasehouses.Thesupply-sidereformfocuseson"controllingnewsupply,reducinginventory,andoptimizingsupply"toreshapethemarketstructurethroughsystematicpolicies.Bystrictlycontrollingthestartofnewconstructionprojectsandlandsupply,theareaofnewhousingstartsacrossthecountryin2025declinedyear-on-year,facilitatingtheconcentrationofresourcesinhigh-qualityprojectsincorecities.Toacceleratetherevitalizationofexistingcommercialhousing,thecentralbankhasestablishedarelendingfacilityforaffordablehousingtosupportlocalgovernmentsinacquiringexistinghousingforaffordablehousingandtalenthousing,therebystrengtheningthemarket-basedincentivemechanisms.Thenationalstandardfor"goodhousing"hasbeenpromoted,with15provincesissuingregulationsforsafe,comfortable,greenandsmartresidences.Thedetailedstandardstailoredtotheirownneeds,suchasoptimizingthecalculationofbalconyfloorareaandusinggreenbuildingmaterials,havebeenintroducedinmanyregions.Thewhitelistmechanismfor"guaranteeinghousingdelivery"achievedlarge-scaleexpansionandmechanismoptimizationin2025.RealestateenterprisesaresupportedtobroadenequityfinancingchannelsthroughREITs,privateplacements,etc.,tostabilizetheircapitalchainsandpromotetheindustry'stransitionfromahigh-turnovermodeltoahigh-qualityandsustainableone.
3.RegionalmarketstructureIn2025,theShenzhenrealestatemarketischaracterizedbyacorepatternof"policysupport,demanddifferentiation,enterpriseconcentration,andstructuraloptimization."Therealestatepoliciescontinuedtobeaccommodative,focusingonboththedemandandsupplysides.Themarketwasgraduallyrecoveringamidstadjustments,withsignificantdifferencesacrossvarioussub-sectors.Thesupplyofnewhousinghascontracted,withthesecond-handhousingmarkettakingadominantrole.Thepricetrendshowssignificantstructuraldifferentiation,withhigh-qualityresidentialandcommercialofficeprojectsincoreareasdemonstratingstrongresilience,whilethoseinnon-coreareasfacegreaterpressuretoreduceinventory;theconcentrationofrealestateenterpriseshasincreased,withcentralandstate-ownedenterprisesandlocalleadingcompaniesdominatingthemarket;thecommercialofficemarketneedstowaitforthefurtherreleaseofindustrialdemand.In2026,policiesareexpectedtobefurtheroptimized,andthemarketmayachieveadynamicbalancethrough"stabilizingdemand,reducinginventory,andimprovingsupply".
4.SituationandtasksfacedbytheCompanyCurrently,themacroeconomicsituationandindustrystructureareundergoingprofoundchanges.TheCentralUrbanWorkConferencehasclarifiedanewmodelforrealestatedevelopment,andpoliciessuchastheconstructionof"goodhousing"andurbanrenewalhaveprovideduswithdevelopmentopportunities;itisproposedinShenzhen's"15thFive-YearPlan"tobuild"fivecenters,"whichhasexpandedthebroadspaceforenterprisedevelopment;therealestateindustryhastransitionedfromthe"incrementalgrowthera"tothe"stockera"andthe"qualityera".Themarketlogichasshiftedfromscaleexpansiontovaluecreation,andthefocusofcompetitionhasmovedfromresourcecontentiontocapabilitycompetition.Therefinedtransformationoftherealestateindustry,thequalityupgradeofthepropertymanagementindustry,andthelarge-scaledevelopmentoftheassetoperationindustryhaveopenedupnewtransformationspacefortheCompany'sdevelopment.Currently,theCompany'stoppriorityistoensurecashflowsecurityandstrictlypreventliquidityrisks.Thekeyistoreducetheinventoryandrecoverthefunds,whileacceleratingthehigh-qualitydevelopmentofthepropertymanagementsegment,deepeningthevaluerealizationofthecommercialmanagementsegment,andexploringanintegrateddevelopmentecosystemforthemainbusiness.Weadheretothegeneralworkprincipleof"seekingprogresswhilemaintainingstability,andimprovingqualityandefficiency,"andfirmlyfollowtheworkapproachof"reducinginventory,preventingrisks,improvingqualityandefficiency,andpromotingtransformation."Wecoordinatehigh-qualitydevelopmentwithhigh-levelsecurity.Withahigherperspective,abroadervision,andmoreconcreteactions,wewillpromotethecomprehensivecompletionofannualtasksandgoals,andstartanewchapterinallourundertakings.
5.PositionoftheCompanyintheindustrySZPRDaccompaniedthereformandopeningupofShenzhen.Ithasbeendeeplyinvolvedinrealestateandpropertymanagementformorethan40years.Itsindustrypositionandbrandinfluencehavebeenimproving,andithaswonmanyhonorsandawardsovertheyears.Duringthereportingperiod,wewereawardedthe"2025AnnualServiceCapabilityParkBenchmarkProject","Top100PropertyServiceEnterprisesintheGuangdong-HongKong-MacaoGreaterBayArea"and"Top10PropertyServiceEnterprisesinIndustrialParks".Ontheoccasionofthe45thanniversaryoftheestablishmentoftheShenzhenSpecialEconomicZone,theCompanywasselectedasa"TypicalCaseofBrandDevelopment,"awardedthe"ExcellentBrand"certificate,andparticipatedinthecompilationoftheShenzhengroupstandardsfortheintegrationofPartybuildingandpropertyservicesinresidentialcommunities.
3.Keyaccountingdataandfinancialindicators
(1)MajoraccountingdataandfinancialindicatorsinthepastthreeyearsWhethertheCompanyneedstoretroactivelyadjustorrestatetheaccountingdataofpreviousyears?Yes?No
Unit:RMB
| Asattheendof2025 | Asattheendof2024 | Increase/decreaseattheendofthisyearcomparedwiththeendoflastyear | Asattheendof2023 | |
| Totalassets | 15,428,127,953.74 | 15,293,205,498.30 | 0.88% | 16,988,062,068.09 |
| Netassetsattributabletoshareholdersofthelistedcompany | 3,394,933,772.35 | 3,361,683,048.50 | 0.99% | 4,661,810,328.75 |
| 2025 | Year2024 | Increase/decreasethisyearcomparedwithlastyear | Year2023 | |
| Operatingrevenue | 2,383,288,250.02 | 2,734,158,884.05 | -12.83% | 2,965,117,025.04 |
| Netprofitattributabletoshareholdersofthelisted | 33,885,110.58 | -1,114,764,922.17 | 103.04% | 464,014,492.11 |
| company | ||||
| Netprofitafterdeductingnon-recurringprofitsandlossesattributabletoshareholdersofthelistedcompany | -12,386,354.39 | -1,328,523,983.50 | 99.07% | -172,360,115.90 |
| Netcashflowsfromoperatingactivities | -2,086,069,661.63 | -1,423,998,174.52 | -46.49% | -264,092,984.33 |
| Basicearningspershare(RMB/share) | 0.0569 | -1.8705 | 103.04% | 0.7786 |
| Dilutedearningspershare(RMB/share) | 0.0569 | -1.8705 | 103.04% | 0.7786 |
| Weightedaveragerateofreturnonnetassets | 1.00% | -28.00% | 29.00% | 10.26% |
(2)Quarterlymainaccountingdata
Unit:RMB
| Q1 | Q2 | Q3 | Q4 | |
| Operatingrevenue | 493,396,461.75 | 594,512,474.12 | 627,863,129.86 | 667,516,184.29 |
| Netprofitattributabletoshareholdersofthelistedcompany | 5,005,715.62 | 9,422,304.01 | 17,793,178.39 | 1,663,912.56 |
| Netprofitafterdeductingnon-recurringprofitsandlossesattributabletoshareholdersofthelistedcompany | 170,711.89 | -25,583,691.29 | 14,667,807.67 | -1,641,182.66 |
| Netcashflowsfromoperatingactivities | -271,334,001.08 | 164,146,485.82 | -2,267,983,635.15 | 289,101,488.78 |
WhethertheabovefinancialindicatorsortheiraggregatearesignificantlydifferentfromthefinancialindicatorsrelatedtotheCompany'sdisclosedquarterlyandsemi-annualreports?Yes?No
4.Sharecapitalandshareholders(I)Numberofordinaryshareholders,numberofpreferredshareholderswhosevotingrightshavebeenrestored,andshareholdingsofthetop10shareholders
Unit:share
| Totalnumberofordinaryshareholdersattheendofthereportingperiod. | 34,855 | Totalnumberofordinaryshareholdersattheendofthemonthbeforethedisclosuredateoftheannualreport | 34,455 | Totalnumberofpreferredshareholderswhosevotingrightshavebeenrestoredattheendofthereportingperiod | 0 | Totalnumberofpreferredshareholderswhosevotingrightisrestoredattheendofthemonthbeforethedisclosuredateoftheannualreport | 0 | ||||||
| Shareholdingsofthetop10shareholders(excludingshareslentthroughrefinancing) | |||||||||||||
| Nameofshareholder | Natureofshareholder | Shareholdingratio | Numberofsharesheld | Numberofsharesheldunderrestricted | Pledge,markingorfreezing | ||||||||
| Share | Number | ||||||||||||
| conditions | status | ||||||
| ShenzhenInvestmentHoldingsCo.,Ltd. | State-ownedlegalperson | 50.87% | 303,144,937 | 1,733,626 | Notapplicable | 0 | |
| ShenzhenState-ownedEquityOperationManagementCo.,Ltd. | Non-state-ownedlegalpersoninChina | 6.38% | 38,037,890 | 0 | Notapplicable | 0 | |
| ChinaOrientAssetManagementCo.,Ltd. | State-ownedlegalperson | 2.77% | 16,491,402 | 0 | Notapplicable | 0 | |
| HongKongSecuritiesClearingCompanyLtd. | Overseaslegalperson | 0.68% | 4,076,993 | 0 | Notapplicable | 0 | |
| YANGYaochu | NaturalpersoninChina | 0.35% | 2,068,814 | 0 | Notapplicable | 0 | |
| IndustrialandCommercialBankofChinaLimited-ChinaSouthernCSIAllShareRealEstateETFSecuritiesInvestmentFund | Others | 0.31% | 1,843,534 | 0 | Notapplicable | 0 | |
| DUANShaoteng | NaturalpersoninChina | 0.30% | 1,771,765 | 0 | Notapplicable | 0 | |
| ChinaMinshengBankingCorporationLimited-JinyuanShunanYuanqiFlexibleAllocationHybridSecuritiesInvestmentFund | Others | 0.26% | 1,551,700 | 0 | Notapplicable | 0 | |
| MAIFurong | NaturalpersoninChina | 0.23% | 1,374,596 | 0 | Notapplicable | 0 | |
| YuZhisong | NaturalpersoninChina | 0.20% | 1,220,000 | 0 | Notapplicable | 0 | |
| Notestoshareholders'relatedrelationshiporpersonsactinginconcert | Thelargestshareholder,ShenzhenInvestmentHoldingsCo.,Ltd.,isthecontrollingshareholderoftheCompanyandShenzhenState-ownedEquityOperationManagementCo.,Ltd.Inaddition,itisunknownwhethertheremainingeightshareholdershaverelatedrelationshiporarepersonsactinginconcert. | ||||||
| Shareholdersparticipatinginmarginfinancingandsecuritieslendingbusiness(ifany) | Attheendofthereportingperiod,amongtheabove-mentionedshareholders,DUANShaotengheld1,771,765sharesoftheCompanythroughacreditsecuritiesaccount. | ||||||
Participationofshareholdersholdingmorethan5%oftheshares,thetop10shareholdersandthetop10shareholdersofunrestrictedtradablesharesinrefinancingbusinessandlendingshares
□Applicable?NotapplicableChangesofthetop10shareholdersandthetop10shareholdersofunrestrictedtradablesharescomparedwiththepreviousperiodduetorefinancinglending/repayment
□Applicable?Notapplicable
(2)TotalnumberofpreferredshareholdersoftheCompanyandsharesheldbytop10preferredshareholders
□Applicable?NotapplicableTheCompanyhadnopreferredshareholdersduringthereportingperiod.
(3)Disclosethepropertyrightsandcontrolrelationshipbetweenthecompanyandtheactualownerintheformofablockdiagram
5.Bondsexistingontheapprovaldateoftheannualreport?Applicable?Notapplicable
(1)Basicinformationofbonds
| Bondname | Abbr. | Code | Issuedate | Maturitydate | Bondbalance(RMB10,000) | Interestrate |
| Privatelyplacedcorporatebondstoprofessionalinvestorsin2025ofSZPRD(TrancheI) | 25SZPRD01 | 134664.SZ | November27,2025 | November27,2028 | 55,000 | 2.30% |
| Interestpaymentofcorporatebondsduringthereportingperiod | Nobondinterestwasdueduringthereportingperiod. | |||||
(2)LatesttrackingratingandratingchangesofcorporatebondsOnJuly23,2025,CSCIPengyuanCreditRatingCo.,Ltd.issuedacreditratingreportfortheCompany's"25SZPRD01"bond,assigningacorporatecreditratingofAA+withastableoutlook,whilemaintainingthecreditratingofthesaidbondatAA+.
(3)Asoftheendofthereportingperiod,themainaccountingdataandfinancialindicatorsoftheCompanyfortherecenttwoyears
Unit:RMB10,000
| Item | 2025 | Year2024 | Increase/decreasethisyearcomparedwithlastyear |
| Debt/assetratio | 79.04% | 78.88% | 0.16% |
| Netprofitafterdeductingnon-recurringprofitorloss | -1,238.64 | -132,852.4 | 99.07% |
| EBITDA/debtratio | 3.46% | -17.79% | 21.43% |
| Timesinterestearned | 0.93 | -5.14 | 118.09% |
III.Importantmatters(I)Mattersconcerningthenon-publicissuanceofcorporatebonds
State-ownedAssetsSupervisionandAdministrationCommissionofShenzhenMunicipalPeople'sGovernmentShenzhenInvestmentHoldingsCo.,Ltd.
| ShenzhenInvestmentHoldingsCo.,Ltd. | ShenzhenState-ownedEquityOperationManagementCo.,Ltd. |
TheCOOEC
TheCompanyheldthe36thmeetingofthe10thBoardofDirectorsandthe3rdextraordinarygeneralmeetingof2025onJuly7,2025andJuly23,2025,respectively,atwhichtheProposalontheNon-publicIssuanceofCorporateBondswasreviewedandapproved.AccordingtotheNo-objectionLetterontheComplianceofNon-publicIssuanceofCorporateBondsbyShenzhenProperties&ResourcesDevelopment(Group)Ltd.withtheListingConditionsofShenzhenStockExchange(SZSELetter[2025]No.850)issuedbyShenzhenStockExchange,theCompanywasapprovedtonon-publiclyissuecorporatebondswithatotalamountnotmorethanRMB1.2billiontoprofessionalinvestors.TheCompanyhascompletedtheissuanceofthe2025non-publicissuanceofcorporatebondstoprofessionalinvestors(TrancheI)(Bondabbreviation"25SZPRD01",Bondcode"134664.SZ").Fordetails,pleaserefertotheAnnouncementonNon-publicIssuanceofCorporateBonds(AnnouncementNo.:2025-34),theAnnouncementonObtainingNo-objectionLetterfromShenzhenStockExchangefortheListingandTransferofNon-publiclyIssuedCorporateBonds(AnnouncementNo.:2025-49),andtheAnnouncementonIssuanceResultsof2025Non-publicIssuanceofCorporateBondstoProfessionalInvestors(TrancheI)(AnnouncementNo.:2025-69)disclosedbytheCompanyonCninfo(http://www.cninfo.com.cn).(II)Mattersrelatedtotheguaranteeforsubsidiary'sapplicationforfacilityamountfrombanksTheCompanyheldthe37thmeetingofthe10thBoardofDirectorsandthe4thextraordinarygeneralmeetingof2025onJuly25,2025andAugust11,2025,respectively,atwhichtheProposalonProvidingAssetMortgageGuaranteeforaWholly-ownedSubsidiary'sApplicationforCreditFacilitiesfromaBankwasreviewedandapproved.TheCompanyagreedtosignamortgageguaranteeagreementwiththeShenzhenBranchofChinaMinshengBankingCorporationLimited(hereinafterreferredtoas"CMBC")toprovideamortgageguaranteeforthefacilityappliedforbyitswholly-ownedsubsidiary,ShenzhenInternationalTradeCenterPropertyManagementCo.,Ltd.,fromCMBC,withtheguaranteedprincipalnotexceedingRMB900million.Fordetails,pleaserefertotheAnnouncementonProvidingAssetMortgageGuaranteeforaWholly-ownedSubsidiary'sApplicationforFacilitiesfromaBank(AnnouncementNo.:2025-40)andtheAnnouncementontheProgressofProvidingAssetMortgageGuaranteeforaWholly-ownedSubsidiary'sApplicationforFacilitiesfromaBank(AnnouncementNo.:2025-45)disclosedbytheCompanyonCninfo(http://www.cninfo.com.cn).(III)MattersconcerningreappointmentoftheBoardofDirectorsandseniormanagementDuringthereportingperiod,theCompanyelected5non-independentdirectorsand3independentdirectorsforthe11thBoardofDirectors.Theabove8directors,togetherwith1employeerepresentativedirectorelectedbytheCompany'semployeerepresentativeconference,formthe11thBoardofDirectorsoftheCompany.Atthesametime,thenewBoardofDirectorselectedtheCompany'sgeneralmanager,deputygeneralmanagers,chieffinancialofficer,secretaryoftheBoardofDirectors,andotherseniormanagement.Fordetails,pleaserefertotheAnnouncementonReappointmentoftheBoardofDirectors(AnnouncementNo.:2025-52)andtheAnnouncementonCompletionofReappointmentoftheBoardofDirectorsandtheAppointmentofSeniorManagementandSecuritiesAffairsRepresentative(AnnouncementNo.:2025-64)disclosedbytheCompanyonCninfo(http://www.cninfo.com.cn).(IV)MattersconcerningmajorarbitrationofthesubsidiariesDuringthereportingperiod,RongyaoRealEstate,asubsidiaryoftheCompany,receivedtheArbitralAward(2023)SZCIAANo.2970issuedbytheShenzhenCourtofInternationalArbitration,requiringtherespondenttorepayallloanprincipalandinteresttoRongyaoRealEstate.ItalsoreceivedtheEnforcementRuling(2025)Y03ZBNo.5646andtheNoticeofSeizure,ImpoundmentandFreezingofProperty(2025)Y03ZBNo.5646fromtheShenzhenIntermediatePeople'sCourtofGuangdongProvince,rulingtoseize,freezeandimpoundtherelevantpropertyoftherespondent.Fordetails,pleaserefertotheAnnouncementonProgressofMajorArbitrationofaSubsidiary(AnnouncementNo.:
2025-48)andtheAnnouncementonProgressofMajorArbitrationofaSubsidiary(AnnouncementNo.:
2025-73)disclosedbytheCompanyonCninfo(http://www.cninfo.com.cn).(V)MattersconcerningmajorrelatedpartytransactionsOnDecember30,2025,theCompanyheldthe3rdmeetingofthe11thBoardofDirectors,atwhichtheProposalonSigningtheSupplementaryAgreementIVtotheEntrustedOperationandManagement
AgreementforDivestedLandandPropertywithaRelatedPartyandtheRelatedPartyTransactionwasreviewedandapproved.TheCompanyjointlysignedanagreementwithShenzhenInvestmentHoldingsandShenzhenShentouPropertyDevelopmentCo.,Ltd.(hereinafterreferredtoas"ShentouPropertyDevelopment"),stipulatingthattheCompanywouldexercisetherightsandobligationsofShenzhenInvestmentHoldingswithrespecttothetargetassets.Meanwhile,theCompanyshallmakeaone-timepaymenttoShentouPropertyDevelopmentforthepreviousyear'srentalincomeshare,calculatedas25%oftheauditedtotalannualrentalincome(taxincluded)ofthetargetassets.Fordetails,pleaserefertotheAnnouncementonSigningtheSupplementaryAgreementIVtotheEntrustedOperationandManagementAgreementforDivestedLandandPropertywithaRelatedPartyandtheRelatedPartyTransaction(AnnouncementNo.:2025-72)disclosedbytheCompanyonCninfo(http://www.cninfo.com.cn).