INTERIMREPORT2025 2025-023 [28August2025] PartIImportantNotes,TableofContentsandDefinitions TheBoardofDirectors(orthe“Board”),theSupervisoryCommitteeaswellasthedirectors,supervisors and senior management of ShenZhen SpecialEconomicZone Real Estate&Properties(Group)Co.,Ltd.(hereinafterreferredtoasthe“Company”)herebyguaranteethefactuality,accuracyandcompletenessofthecontentsofthisReportanditssummary,andshallbejointlyandseverallyliableforanymisrepresentations,misleadingstatementsormaterialomissionstherein. TangXiaoping,the Company’s General Manager,Wang Jianfei,theCompany’sChiefFinancialOfficer,andZhouHongpu,headoftheCompany’sfinancialdepartment(equivalenttofinancialmanager)herebyguaranteethattheFinancial Statements carried in this Report are factual,accurate andcomplete. AlltheCompany’sdirectorshaveattendedtheBoardmeetingforthereviewofthisReportanditssummary. Certaindescriptions about the Company’s operating plans or workarrangementsforthefuturementionedinthisReportanditssummary,theimplementationofwhichissubjecttovariousfactors,shallNOTbeconsideredaspromises to investors.Therefore,investors and interested parties areremindedtobesufficientlyawareoftherisksinvolvedandunderstandthedifferencesbetweenplans,forecastsandpromises. TheCompanyhasnointerimdividendplan,eitherintheformofcashorstock. TableofContents PartIImportantNotes,TableofContentsandDefinitions...................................................................................2PartIICorporateInformationandKeyFinancialInformation...........................................................................6PartIIIManagementDiscussionandAnalysis.......................................................................................................9PartIVCorporateGovernance,EnvironmentandSociety.................................................................................23PartVSignificantEvents........................................................................................................................................24PartVIShareChangesandShareholderInformation........................................................................................29PartVIIBonds..........................................................................................................................................................33PartVIIIFinancialStatements...............................................................................................................................34PartIXOtherReportedData...............................................................................................................................165 DocumentsAvailableforReference 1.ThefinancialstatementswiththepersonalsignaturesandstampsoftheCompany’slegalrepresentative,ChiefFinancialOfficer andheadofthefinancialdepartment;and andTaKungPaoduringtheReportingPeriod. Definitions PartIICorporateInformationandKeyFinancialInformation ICorporateInformation IIContactInformation IIIOtherInformation 1.ContactInformationoftheCompany Indicatebytickmarkwhetheranychangeoccurredtotheregisteredaddress,officeaddressandtheirzipcodes,websiteaddress,emailaddressandothercontactinformationoftheCompanyintheReportingPeriod. □ApplicableNotapplicable NochangeoccurredtothesaidinformationintheReportingPeriod,whichcanbefoundinthe2024AnnualReport. 2.MediaforInformationDisclosureandPlacewherethisReportisKept IndicatebytickmarkwhetheranychangeoccurredtotheinformationdisclosuremediaandtheplaceforkeepingtheCompany’speriodicreportsintheReportingPeriod. □ApplicableNotapplicable Thewebsiteofthestockexchange,themediaandotherwebsiteswheretheCompany’speriodicreportsaredisclosed,aswellastheplaceforkeepingsuchreportsdidnotchangeintheReportingPeriod.Thesaidinformationcanbefoundinthe2024AnnualReport. 3.OtherInformation IndicatebytickmarkwhetheranychangeoccurredtootherinformationintheReportingPeriod. □ApplicableNotapplicable IVKeyFinancialInformation Indicatebytickmarkwhetherthereisanyretrospectivelyrestateddatuminthetablebelow. □YesNo VAccountingDataDifferencesunderChineseAccountingStandards(CAS)andInternationalFinancialReportingStandards(IFRS)andForeignAccountingStandards 1.NetProfitandEquityDifferencesunderCASandIFRS □ApplicableNotapplicableNosuchdifferencesfortheReportingPeriod. 2.NetProfitandEquityDifferencesunderCASandForeignAccountingStandards □ApplicableNotapplicable NosuchdifferencesfortheReportingPeriod. VIExceptionalGainsandLosses Applicable□Notapplicable Unit:RMB Detailsofothergainsandlossesthatmeetthedefinitionofexceptionalgain/loss: □ApplicableNotapplicable NosuchcasesfortheReportingPeriod. ExplanationofwhytheCompanyreclassifiesasrecurrentanexceptionalgain/lossitemlistedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic—ExceptionalGain/LossItems: Applicable□Notapplicable PartIIIManagementDiscussionandAnalysis IPrincipalActivityoftheCompanyintheReportingPeriod (I)IndustryreviewfortheReportingPeriod O