证券代码：000011 200011 股票简称：深物业 A 深物业 B 编号：2025-48 号 关于子公司重大仲裁的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完 整，没有虚假记载、误导性陈述或者重大遗漏。 深圳市物业发展(集团)股份有限公司 特别提示： 1.案件所处的仲裁阶段:终局裁决； 2.上市公司所处的当事人地位：公司控股子公司深圳市荣耀房地 产开发有限公司为申请人； 3.涉案金额：约 65,806.72 万元； 4.对上市公司的影响：本次裁决为终局裁决但尚未执行，对公司 本期利润和期后利润的影响尚存在不确定性。 一、案件基本情况 2023 年 6 月 9 日，深圳市物业发展（集团）股份有限公司（以 下简称"公司"）在巨潮资讯网(http://www.cninfo.com.cn)上刊登 了《关于子公司重大仲裁的公告》（公告编号：2023-13 号）。公司 控股子公司深圳市荣耀房地产开发有限公司（以下简称"荣耀地产"） 收到深圳国际仲裁院《案件受理通知书》【（2023）深国仲受 2970 号-1】，仲裁院就荣耀地产与深圳市心海荣耀房地产开发有限公司、 深圳市心海控股有限公司、深圳市心海 ...

Group 1 - The core viewpoint of the news is that 深物业A (Shenzhen Properties A) has shown significant improvement in its financial performance for the first half of 2025, with notable increases in revenue and net profit compared to the previous year [1] - The total operating revenue for the reporting period reached 1.088 billion yuan, representing a year-on-year increase of 27.09% [1] - The net profit attributable to shareholders was 14.428 million yuan, up 56.61% year-on-year [1] Group 2 - In Q2, the operating revenue was 595 million yuan, reflecting a year-on-year growth of 32.28% [1] - The net profit for Q2 was 9.4223 million yuan, which is a 7.7% increase compared to the same quarter last year [1] - The gross profit margin improved by 15.5% year-on-year, reaching 25.22%, while the net profit margin surged by 499.81% to 0.93% [1] Group 3 - Total expenses for sales, management, and finance amounted to 171 million yuan, accounting for 15.73% of revenue, which is an 11.73% decrease year-on-year [1] - The earnings per share (EPS) increased by 56.13% to 0.02 yuan, while the net asset per share decreased by 24.73% to 5.66 yuan [1] - The operating cash flow per share was -0.18 yuan, but this represents an 85.45% improvement year-on-year [1] Group 4 - The company has a historical median Return on Invested Capital (ROIC) of 12.94%, indicating average investment returns over the past decade [2] - The company has experienced three years of losses out of 33 annual reports since its listing, suggesting a fragile business model [2] - The company's cash flow situation is concerning, with a cash asset to current liabilities ratio of only 41.17% and negative average operating cash flow over the past three years [2]

Core Insights - The company reported a total operating revenue of 1.088 billion yuan, an increase of 232 million yuan, representing a year-on-year growth of 27.09% [1] - The net profit attributable to shareholders was 14.428 million yuan, an increase of 5.216 million yuan, with a year-on-year growth of 56.61% [1] - The net cash flow from operating activities was -107 million yuan, an increase of 630 million yuan compared to the same period last year [1] Financial Metrics - The latest gross profit margin is 25.22%, ranking 23rd among disclosed peers, with an increase of 3.39 percentage points year-on-year [2] - The latest return on equity (ROE) is 0.43%, ranking 24th among disclosed peers, with an increase of 0.22 percentage points year-on-year [2] - The diluted earnings per share (EPS) is 0.02 yuan, ranking 22nd among disclosed peers, with an increase of 0.01 yuan, representing a year-on-year growth of 56.13% [2] - The latest total asset turnover ratio is 0.07 times, ranking 24th among disclosed peers, with an increase of 0.02 times year-on-year [2] - The latest inventory turnover ratio is 0.08 times, with an increase of 0.02 times year-on-year [2] Leverage - The latest debt-to-asset ratio is 80.53% [3]

Group 1 - The company Shenwu A reported a revenue of approximately 1.088 billion yuan for the first half of 2025, representing a year-on-year increase of 27.09% [1] - The net profit attributable to shareholders of the listed company was approximately 14.43 million yuan, showing a year-on-year increase of 56.61% [1] - The basic earnings per share were 0.0242 yuan, which is a year-on-year increase of 56.13% [1] Group 2 - The company has opened 41 franchises for Haidilao, with over 20,000 applications received, indicating strong interest in the brand [1] - The estimated investment required to join Haidilao is around 10 million yuan, which is considered a significant amount [1]

2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 编制单位：深圳市物业发展（集团）股份有限公司 单位：人民币万元 | | | 占用方与上市公司的 | 上市公司核算的 | 2025 年期初占 | 2025 年半年度 占用累计发生 | 2025 年半 年度占用 | 2025 年半年 | 2025 年半年度 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 关联关系 | 会计科目 | 用资金余额 | 金额（不含利 | 资金的利 | 度偿还累计 | 期末占用资金余 | 占用形成原因 | 占用性质 | | | | | | | 息） | 息(如有) | 发生金额 | 额 | | | | 控股股东、实际控制人 | | | | | | | | | | | | 及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前控股股东、实际控制 | | | | | | | | | | | | 人及其附属企业 | | | ...

深圳市物业发展(集团)股份有限公司 2025 年半年度财务报表 深圳市物业发展(集团)股份有限公司 2025 年半年度财务报表 【2025 年 8 月】 1 深圳市物业发展(集团)股份有限公司 2025 年半年度财务报表 1、合并资产负债表 编制单位：深圳市物业发展(集团)股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 2,846,262,594.16 | 1,678,116,644.12 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | | | 衍生金融资产 | | | | 应收票据 | 20,000.00 | 0.00 | | 应收账款 | 558,663,016.84 | 476,014,729.60 | | 应收款项融资 | | | | 预付款项 | 8,382,194.51 | 7,789,173.69 | | 应收保费 | | | | 应收分保账款 | | | | 应收分保合同准备金 | | | | 其他应收款 | 265,1 ...

深圳市物业发展(集团)股份有限公司 2025 年半年度财务报告 一、审计报告 2025 年半年度财务报告 【2025 年 8 月】 1 深圳市物业发展(集团)股份有限公司 2025 年半年度财务报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 深圳市物业发展(集团)股份有限公司 编制单位：深圳市物业发展(集团)股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 2,846,262,594.16 | 1,678,116,644.12 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | | | 衍生金融资产 | | | | 应收票据 | 20,000.00 | 0.00 | | 应收账款 | 558,663,016.84 | 476,014,729.60 | | 应收款项融资 | | | | 预付款项 | 8,382,194.51 | 7,789,173.69 | | ...

Financial Performance - The company's operating revenue for the reporting period was ¥1,087,908,935.87, representing a 27.09% increase compared to ¥856,028,445.25 in the same period last year[16]. - Net profit attributable to shareholders of the listed company was ¥14,428,019.63, a 56.61% increase from ¥9,212,457.81 year-on-year[16]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥25,412,979.40, a decrease of 360.94% compared to ¥9,739,027.97 in the previous year[16]. - Basic earnings per share increased to ¥0.0242, up 56.13% from ¥0.0155 in the previous year[16]. - The company achieved a revenue of approximately 1.08 billion yuan and a total profit of about 22.61 million yuan during the first half of 2025[36]. - The company reported a total profit of ¥22,609,343.38 for the first half of 2025, up from ¥6,181,802.43 in the previous year[144]. - The company reported a net profit margin of 9.63% for the current period, indicating a strong profitability trend[154]. - The company reported a net profit margin of 9.21% for the current period, which is a slight decrease from 9.40% in the previous period[157]. Cash Flow and Liquidity - The net cash flow from operating activities improved to -¥107,187,515.26, an 85.45% increase from -¥736,827,101.44 in the same period last year[16]. - The net cash flow from operating activities was -107,187,515.26, an improvement from -736,827,101.44 in the previous period, indicating a significant reduction in cash outflow[150]. - Cash inflow from operating activities totaled 1,526,621,649.42, compared to 113,555,904.66 in the prior period, reflecting a substantial increase[151]. - The net cash flow from investing activities was 45,686,298.43, a turnaround from -2,840,739.35 in the previous period, showing positive cash generation[150]. - Cash inflow from financing activities reached 2,080,929,660.08, a significant increase from 394,087,970.55 in the prior period[150]. - The ending cash and cash equivalents balance increased to 2,780,507,023.52 from 1,867,480,361.19, showing a robust liquidity position[150]. - Cash and cash equivalents increased to ¥2,846,262,594.16, representing 17.11% of total assets, up from 10.97% last year, a 6.14% increase due to higher sales receipts and increased borrowings[66]. Assets and Liabilities - Total assets at the end of the reporting period were ¥16,639,099,914.24, an 8.80% increase from ¥15,293,205,498.30 at the end of the previous year[16]. - Total liabilities rose to ¥13,399,036,580.49, an increase of 11.1% from ¥12,062,773,542.16 year-over-year[138]. - The company's long-term equity investments stood at CNY 265,818,164.32, slightly down from CNY 268,187,805.52, a decrease of about 0.7%[137]. - The total non-current assets amounted to CNY 1,992,256,596.31, a marginal increase from CNY 1,990,546,474.48, reflecting a growth of approximately 0.1%[137]. - The total assets at the end of the period were 595.979 million, with a significant increase in cash and cash equivalents[155]. - The total liabilities at the end of the reporting period were 4,561.00 million yuan, which is an increase of 6.80% from the previous period[157]. Business Segments and Operations - The real estate development segment focuses on various property types, including residential, high-end apartments, office buildings, and industrial parks, with ongoing projects in Shenzhen and other locations to optimize existing assets and enhance capital turnover[25]. - The property management segment, operating under the brand Guomao Property, has become a leading provider in China, managing projects across various sectors including industrial parks, cultural tourism, and government agencies, with over 20 subsidiaries supporting its operations[26]. - The industrial ecosystem operation segment aims to create a full-cycle service model encompassing project development, park operation, and leasing, leveraging the company's strengths in real estate and property management[27]. - The main business ecological investment segment is focusing on extending the core business and investing in upstream and downstream industries, including strategic stakes in technology companies to enhance digital transformation in property management[28]. - The company is actively pursuing market expansion through strategic asset disposals, enhancing cash flow security[38]. - The company plans to develop key projects including the Yu Tang Shang Fu project and the Lan Hu Shi Dai project, aiming to enhance development capabilities and product competitiveness[48]. Market Conditions and Strategies - The real estate market is stabilizing, with new housing sales area and value maintaining stability, and a reduction in unsold inventory expected to exceed 35 million square meters due to effective supply-side adjustments[32]. - Shenzhen's real estate policies are being optimized to better match market demand, including adjustments to purchase restrictions and mortgage policies, which have lowered barriers for homebuyers and stimulated demand[33]. - The property management industry is shifting towards high-quality development, with a focus on efficiency over scale, as companies exit low-profit projects and concentrate on advantageous regions and quality clients[34]. - The company is focusing on a market-oriented operation model, establishing a strong headquarters for empowered management and independent project operations[38]. - The company is actively monitoring market conditions and adjusting marketing strategies to meet annual sales targets amid ongoing market fluctuations[82]. Corporate Governance and Compliance - The company has established a multi-level incentive mechanism, including co-investment and long-term incentives, to enhance operational efficiency and attract talent[54]. - The company has not engaged in any significant asset or equity sales during the reporting period[77]. - The company has not reported any significant related party transactions during the reporting period[109]. - The company has not engaged in any management or contracting situations during the reporting period[111]. - The company has not disclosed any other necessary information as required by regulatory authorities[124]. Community and Social Responsibility - The company has engaged in community support initiatives, including purchasing CNY 573,000 worth of agricultural products to assist rural revitalization efforts[89]. - The company has achieved a 100% participation rate in social insurance for employees and aims for a similar coverage rate for annual health check-ups[93].

Group 1 - The core point of the news is the decline in the stock price of Shenzhen Property Development (Group) Co., Ltd. (深物业A), which fell by 5.13% to 9.07 CNY per share, with a trading volume of 183 million CNY and a turnover rate of 3.73%, resulting in a total market capitalization of 5.406 billion CNY [1] - Shenzhen Property Development's main business involves real estate development, with revenue composition as follows: property management 58.32%, real estate 36.71%, and leasing operations 4.97% [1] - The top circulating shareholder of Shenzhen Property Development is a fund under Southern Fund, which increased its holdings in the Southern CSI Real Estate ETF (004642) by 974,500 shares, bringing the total to 2.6176 million shares, accounting for 0.44% of circulating shares [2] Group 2 - The Southern CSI Real Estate ETF (004642) was established on August 24, 2017, with a current scale of 173 million CNY. Year-to-date returns are 6.15%, ranking 3910 out of 4222 in its category, while the one-year return is 31.67%, ranking 2849 out of 3766 [2] - The fund manager of the Southern CSI Real Estate ETF is Luo Wenjie, who has a cumulative tenure of 12 years and 131 days, with the fund's total asset size at 138.999 billion CNY. The best return during his tenure is 141.73%, while the worst return is -47.6% [3]

Core Viewpoint - The company has appointed a director and general manager to act in the absence of the chairman, ensuring that operations remain compliant and governance efficient during this transitional period [2] Group 1 - The company is currently advancing the re-election process for its 10th board of directors [2]