公告日期：2026-03-20

Contents

I.Auditor’s Report ......Page 1-7

II. Financial Statements ......Page 8-19

(I) Consolidated Balance Sheet ......Page 8-9

(II) Parent Company Balance Sheet ......Page 10-11

(III) Consolidated Income Statement ......Page 12

(IV) Parent Company Income Statement ......Page 13

(V) Consolidated Cash Flow Statement ......Page 14

(VI) Parent Company Cash Flow Statement ......Page 15

(VII) Consolidated Statement of Changes in Equity ......Page 16-17
(VIII) Parent Company Statement of Changes in Equity ………………Page 18-19

III. Notes to Financial Statements ......Page 20-111

Auditor’s Report

PCCPAAR [2026] No. 7-34

To the Shareholders of Shenzhen Special Economic Zone Real Estate & Properties
(Group) Co., Ltd.:
I.Audit Opinion

We have audited the financial statements of Shenzhen Special Economic Zone Real
Estate & Properties (Group) Co., Ltd. (the “Company”), which comprise the
consolidated and parent company balance sheets as at December 31, 2025, the
consolidated and parent company income statements, consolidated and parent
company cash flow statements, and consolidated and parent company statements of
changes in equity for the year then ended, as well as notes to financial statements.

In our opinion, the accompanying financial statements present fairly, in all material
respects, the financial position of the Company as at December 31, 2025, and its
financial performance and its cash flows for the year then ended in accordance with
ChinaAccounting Standards for Business Enterprises.
II. Basis forAudit Opinion

We conducted our audit in accordance with China Standards on Auditing. Our
responsibilities under those standards are further described in the Certified Public
Accountant’s Responsibilities for the Audit of the Financial Statements section of our
report. We are independent of the Company in accordance with the “Chinese Certified
Public Accountant Independe……
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