Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Guangdong Provincial Expressway Development Co.，Ltd.
The First Quarterly Report 2016
April 2016
1
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
I. Important Notice
The Board of Directors and the Supervisory Committee of the Company and its directors, supervisors and senior
executives should guarantee the reality, accuracy and completion of the quarterly report, there are no any fictitious
statements, misleading statements or important omissions carried in this report, and shall take legal
responsibilities, individual and or joint.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Mr.Zhu Zhanliang, Leader, Mr.Wang Chunhua,General Manager, Mr. Fang Zhi, Chief of the accounting work,
Ms.Liu Xiaomei, Chief of the accounting organ (chief of accounting ) hereby confirm the authenticity and
completeness of the financial report enclosed in this report.
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
II. Main financial data and changes of shareholders
（1）Main financial data and financial index
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed
and accounting error correction or not.
□ Yes √ No
Changes of this period over
This period Same period of last year same period of last year
（％）
Operating income（RMB） 384,703,107.66 357,469,802.88 7.62%
Net profit attributable to the shareholders
127,187,345.72 89,949,365.89 41.40%
of the listed company（RMB）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 126,779,718.66 87,373,228.21 45.10%
listed company（RMB）
Cash flow generated by business operation,
274,943,372.62 240,651,340.48 14.25%
net（RMB）
Basic earning per share(RMB/Share) 0.10 0.07 42.86%
Diluted gains per
0.10 0.07 42.86%
share(RMB/Share)(RMB/Share)
Weighted average return on equity
2.44% 1.78% 0.66%
（%）
Changes of this period-end
End of this period End of last period over same period-end of last
year(%)
Gross assets（RMB） 12,131,854,608.39 12,107,767,967.86 0.20%
Net assets attributable to the shareholders
5,222,375,592.56 5,209,289,822.59 0.25%
of the listed company（RMB）
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount (Year-beginning to
Items Notes
the end of the report period.)
Other non-operating income and expenditure except for the
721,970.60
aforementioned items
Less: Amount of influence of income tax 134,718.66
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Amount of influence of minority interests（After tax） 179,624.88
Total 407,627.06 --
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
II. Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered and the
Shares Held by Top Ten Common Shareholders
In shares
Total preference shareholders
Total number of common with the voting power
80,002 0
shareholders at the period-end recovered at the end of the
reporting period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
Properties of Share tradable shares
Shareholder name Quantity Status of the
shareholder proportion % with Conditional Quantity
shares
held
Guangdong
State-owned legal
Communication 40.84% 513,356,893 409,977,151
person
Group Co., Ltd.
Domestic Natural
Feng Wuchu 1.71% 21,520,979
person
Guangdong
State-owned legal
Expressway Co., 1.56% 19,582,228 19,582,228
person
Ltd
Haerbin Hali Domestic Natural
1.18% 14,850,682
Industry Co., Ltd person
Overseas legal
Xinyue Co., Ltd. 1.05% 13,201,086
person
Guangdong
Yuecai Trust State-owned legal
0.97% 12,174,345
Investment Co., person
Ltd.
Domestic Natural
Li Zhuo 0.75% 9,458,390
person
China Everbright
Bank Co., Ltd－
China Europe Domestic non
new dynamic State-owned 0.53% 6,678,925
equity securities Legal person
investment fund
（LOF）
China Securities
Domestic non
Finance 0.33% 4,144,500
State-owned
Corporation
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Limited. Legal person
VANGUARD
TOTAL Domestic non
INTERNATION State-owned 0.28% 3,490,900
AL STOCK Legal person
INDEX FUND
Shares held by the Top 10 Shareholders of Non-restricted shares
Share type
Shareholders’ Names Number of the non-restricted shares held
Share type Quantity
Guangdong Communication Group RMB Common
103,379,742 103,379,742
Co., Ltd. shares
RMB Common
19,655,709
shares
Foreign shares
Feng Wuchu 21,520,979
placed in
1,865,270
domestic
exchange
RMB Common
Haerbin Hali Industry Co., Ltd 14,850,682 14,850,682
shares
Foreign shares
placed in
Xinyue Co., Ltd. 13,201,086 13,201,086
domestic
exchange
Guangdong Yuecai Trust Investment RMB Common
12,174,345 12,174,345
Co., Ltd. shares
RMB Common
Li Zhuo 9,458,390 9,458,390
shares
China Everbright Bank Co., Ltd－
RMB Common
China Europe new dynamic equity 6,678,925 6,678,925
shares
securities investment fund（LOF）
China Securities Finance RMB Common
4,144,500 4,144,500
Corporation Limited. shares
Foreign shares
VANGUARD TOTAL
placed in
INTERNATIONAL STOCK INDEX 3,490,900 3,490,900
domestic
FUND
exchange
Foreign shares
GUOTAI JUNAN
placed in
SECURITIES(HONGKONG) 3,388,866 3,388,866
domestic
LIMITED
exchange
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Guangdong Communication Group Co., Ltd. is the parent company of Guangdong
Explanation on associated Expressway Co., Ltd. and Xinyue Co., Ltd.. It is unknown whether there is relationship
relationship or concerted action of between other shareholders and whether they are persons taking concerted action specified in
the above shareholders the Regulations on Disclosure of Information about Change in Shareholding of Shareholders
of Listed Companies.
Harbin Hali Industry Co., Ltd. holds 14,849,774 A shares of the Company through stock
Note to the top 10 common account with credit transaction and guarantee and holds 908 A shares through ordinary stock
stockholders involved in margin account. hold 14,850,682 shares of the Company's stock totally；Li Zhuo holds 9,362,409 A
financing & securities lending (If shares of the Company through stock account with credit transaction and guarantee and
any) holds95,981 A shares through ordinary stock account, hold9,458,390 shares of the Company's
stock totally.
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a
buy-back agreement dealing in reporting period.
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the
report period
□ Applicable √Not applicable
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
III. Significant Events
I. Particular about large-margin change of main accounting statement item and financial index and its reason.
√ Applicable □ Not applicable
（I）Items of balance sheet as compared with the beginning of this year.
1.Monetary capital Increased by RMB 300.90 million and 30.49% over the beginning of the year, mainly due to
net cash inflow of RMB 275 million from operating activities, net cash inflow of RMB 85 million from investing
activities and net cash outflow of RMB59 million from financing activities.
2. Dividend receivable Increased by RMB 12.38 million and 100% o over the beginning of the year, Balance at
the beginning of RMB 0, All are the accrued receivable dividends of Zhaoqing Yuezhao Highway Co.,Ltd. in the
current period.
3. Deferred income tax assets Increased by RMB 2.2138 million and 2,122.83% over the beginning of the year,
The main reason for the increase is the accounting depreciation of Guangfo Expressway Co. Ltd is more than the
tax depreciation, confirming the deferred tax assets.
4. Tax payable Increased by RMB 11.21 million and 29.96% over the beginning of the year, The main reason for
the increase is the increase in the total profits of the current period, which leads to the increase of the enterprise
income tax in the current period
5. Interest payable Increased by RMB 16.66 million and 75.48% over the beginning of the year, The main reason
for the increase is the provision of RMB 16.97 million for the interest of the medium-term notes by the parent
company.
(II) Items of Income statement as compared with the same period of the previous year
1.Operating income increased by RMB27.23 million and 7.62% year on year, The main reason is that Guangfo
Expressway Co., Ltd and Fokai Expressway Co., Ltd have increased their incomes of toll due to the natural
increase of traffic volume.
2.Operating cost increased by RMB 18.81 million and 10.88% year on year, The main reasons for the increase are
due to the following combined effects of the factors: (1) the depreciation of the road assets of Guangdong
Provincial Fokai Expressway Co., Ltd increased RMB 7.94 million and the depreciation of the road assets of
Guangfo Expressway Co., Ltd increased RMB 3.80 million; (2) the operating costs of Guangdong Expressway
Technology Investment Co., Ltd. increased RMB 5.13 million.
3.Business tax and surcharge increased by RMB0.54 million and 4.24% year on year, The main reason for the
increase is that the increase in operating income leads to the increase of tax.
4. Administrative expense decreased by RMB 6.97 million and 18.83% year on year, Mainly due to the
management strengthening and the cost-saving
5. Financial expenses decreased by RMB 23.60 million and 24.63% year on year, The main reasons for the
reduction are: (1) the total amount of loans of Guangdong Provincial Fokai Expressway Co., Ltd decreased RMB
400 million compared with the previous period, resulted in a corresponding reduction of interest payments; (2) the
effect of the lower interest rate of the loan.
6. Investment income Increased by RMB14.81 million and 16.55% year on year，The main reason for the
increase is the confirming of the increase of the investment gains on the company's share-participating companies
that participated in each section of the highway compared with the previous period.
7. Non-operating income Decreased by RMB 4.04 million and 82.89% year on year，The main reason for the
decline is due to Guangfo Expressway Co. Ltd received claims of RMB 3.90 million in the previous period, but
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
none in the current period.
8. Income tax expenses increased by RMB 6.76million and 27.19% year on year, The reason for the increase is the
increase in total profits resulting in the increase in the income tax expense.
9. The net profit for the owners of the parent company increased by RMB 37.24 million and 41.40% year on year
due to the combined influence of the above factors.
(III) Notes of main items of cash flow statement
1. Cash received from absorption of investment
Mainly accounting the cash dividends gained due to the equity investments. This term increased by RMB 40.54
million and 44.82% year on year The reason is the increase on the cash dividends the company received in the
current period.
2. Cash paid for purchase or construction of fixed assets, intangible assets and other long-term assets
The amount of this item decreased by RMB 21.40 million and 31.52% year on year，The main reason for the
reduction is that Guangdong Provincial Fokai Expressway Co., Ltd’s payments on the Fokai Expressway’s
expansion and the major engineering repair decreased compared with the previous period.
3. Cash paid for investment
The amount of this item decreased by RMB 10.43 million and 100% year on year，The main reason for the
reduction is the company invested on the reverse repo bond products in the previous period, but none happened in
the current period.
4. Cash paid for debt repayment decreased by RMB 150 million and 100% year on year, Guangdong Provincial
Fokai Expressway Co., Ltd repaid the bank loans of RMB 150 million in the previous period, but none in the
current period.
II. The progress of significant events and influence, as well as the analysis and explanation on resolving proposal.
√Applicable □Not applicable
The Company received the Approval of the Share-Issuing to Parties such as Guangdong Provincial Expressway
Co., Ltd to Purchase Assets and Raise Matching Funds by Guangdong Provincial Expressway Co., Ltd from the
CSRC. (Zheng Jian Xu ke No.230-2016), which means the scheme of the Company’s share-issuing and paying
cash to purchase assets and raise matching funds(hereinafter referred to as “the major asset restructuring”) was
approved by CSRC. The company had disclosed the main contents of the approval on Feb 6, 2016.
The company disclosed the announcement on the implementation of the major asset restructuring on April 6,
2016. The status of the implementation of the major asset restructuring is as follows:
1. The transaction parties of Guangdong Provincial Expressway Development Co., Ltd and Guangdong Provincial
Highway Construction Co., Ltd have been actively promoting the prerequisite procedures for assets delivery.
2. The Proposal of the Annual Profit Distribution Plan of Year 2015 was examined and approved in the 26th board
meeting of the company’s 7th session board of directors, of which per 10shares will gain cash dividends of RMB
1.50(Tax inclusive), and the plan still needs to be approved in the general shareholder meeting which will be
convened on Apr 28, 2016.
3. According to the Related Transaction Report on Share Issuing and Paying Cash to purchase Assets and Raise
Matching Funds by Guangdong Provincial Expressway Development Co., Ltd, if there are any share dividend
or/and cash dividend distribution events such as dividend distribution, share-granting, capital reserve converted
for increasing shares, newly issuing shares and share allotment occurred in the period commenced from the base
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
date of issuing shares and to the final completed date of issuing shares, there shall be corresponding adjustment in
the quantity and the price of the share-issuing. Hence, after the completion of the annual cash dividends
distribution of year 2015, the company shall adjust the quantity and the price of the share-issuing accordingly,
then carry out the implementation work of the major asset restructuring, including but not limited to the works of
the asset delivery and the share-issuing related to the major asset restructuring.The company will continuously
impel the implementation of the major asset restructuring and timely disclose its implementation status according
to the relevant provisions.
Description of the website for
Overview of material matters Date of disclosing disclosing provisional
announcements
The share-trading suspension
announcement on the deliberation by
January 8,2016 www.cninfo.com.cn
CSRC’s M&A committee for the
company’s major asset restructuring
Announcement on the Company’s
Significant Asset Reorganization Adopted
January 15,2016 www.cninfo.com.cn
by Mergers and Acquisitions Committee of
CSRC and Trade Resumption
Announcement on the acquirement of
CSRC’s approval for the company’s major February 6,2016 www.cninfo.com.cn
asset restructuring
The revise explanation on the report of the
related transaction and the issuance of
February 6,2016 www.cninfo.com.cn
shares and paying cash to purchase the
assets and raise matching funds(Revised)
The report of the related transaction and
the issuance of shares and paying cash to
February 6,2016 www.cninfo.com.cn
purchase the assets and raise matching
funds(Revised)
Announcement on the Implementation
April 6,2016 www.cninfo.com.cn
Status of the Major Asset Restructuring
III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,
directors, supervisors, senior executives or other related parties in the reporting period and commitments
unfinished in implementation at the end of the reporting period
□ Applicable √Not applicable
During the reporting period, there is no commitment that the company, shareholders, actual controller, offeror,
directors, supervisors, senior management or other related parties have fulfilled during the reporting period and
have not yet fulfilled by the end of reporting period.
IV. Anticipation of Business Performance from January to June, 2016
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
same period of last year, and statement of causations.
□ Applicable √Not applicable
V. Investment in securities
√ Applicable □Not applicable
Number
Sharehold Number
of shares Sharehold Book
ing of shares
Initial held at ing balance at Gain. loss
proportio held at
investm the proportio the end of of the
Security Security Short form n at the the end of Accounti Source of
ent beginning n at the the reporting
category code of security beginning the ng items the shares
cost(RM of the end of the reporting period
of the reporting
B) reporting reporting period (RMB)
reporting period
period(sh period(%) (RMB)
period(%) (shares)
ares)
Financial
China
517,560, 235,254,9 235,254,9 assets Subscribe
Stock 601818 Everbright 0.50% 0.50%
876.80 44 44 available on 2009
Bank
for sale
517,560, 235,254,9 235,254,9
Total -- -- -- --
876.80 44 44
Disclosure date for the notice of
July , 2009
approval by the Board (If any)
Disclosure date for the notice of
approval by shareholders’ August 7, 2008
Meeting (If any)
VI. Investment in derivatives
□ Applicable √Not applicable
The Company had no derivatives investment in Period.
VII. Registration form of such Activities as Reception, Research, Communication, Interview in the
Reporting Period
√Applicable □Not applicable
Reception time Way of reception Types of visitors Basic index
The main contents of the research
included: (1) the status of the company's
daily operation; (2) the analysis of the
company’s financial data; (3) the
March 31,2016 Onsite investigation Organization company's development strategy; (4) the
company’s analysis on its industry.
(b) The main documents for the research:
regular reports and other public
information of the company
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
VIII. External guarantee get out of line
□ Applicable √Not applicable
The Company has no external guarantee get out of the line in the Period
IX. Controlling shareholder and its related parties occupying non-business capital of the listed company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company
in Period
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by：Guangdong Provincial Expressway Development Co., Ltd.
In RMB
Items At the end of term Beginning of term
Current asset：
Monetary fund 1,287,640,539.06 986,737,635.38
Settlement provision
Outgoing call loan
Financial assets measured at fair
value with variations accounted into
current income account
Derivative financial assets
Bill receivable
Account receivable 59,694,250.62 48,147,335.85
Prepayments 645,234.93 1,914,808.89
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Interest receivable
Dividend receivable 12,376,405.10
Other account receivable 15,932,565.63 16,436,699.69
Repurchasing of financial assets
Inventories 800,998.80 800,998.80
Assets held for sales
Non-current asset due in 1 year
Other current asset
Total of current assets 1,377,089,994.14 1,054,037,478.61
Non-current assets：
Loans and payment on other’s behalf
disbursed
Disposable financial asset 1,680,781,141.73 1,796,056,064.29
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Expired investment in possess
Long-term receivable
Long term share equity investment 2,596,222,384.14 2,635,251,969.72
Property investment 3,568,131.13 3,684,184.48
Fixed assets 6,439,098,029.41 6,591,106,343.61
Construction in progress 23,302,184.20 17,125,070.14
Engineering material 1,549,556.00 1,549,556.00
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 3,582,361.33 4,099,611.48
R & D petrol
Goodwill
Long-germ expenses to be amortized 3,123,719.10 3,576,970.11
Deferred income tax asset 2,318,114.66 104,286.87
Other non-current asset 1,218,992.55 1,176,432.55
Total of non-current assets 10,754,764,614.25 11,053,730,489.25
Total of assets 12,131,854,608.39 12,107,767,967.86
Current liabilities
Short-term loans
Loan from Central Bank
Deposit received and hold for others
Call loan received
Financial liabilities measured at fair
value with variations accounted into
current income account
Derivative financial liabilities
Bill payable
Account payable 129,364,999.39 154,217,021.14
Advance payment 5,307,842.88 4,709,312.20
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 3,239,224.99 3,105,804.37
Tax payable 48,620,525.97 37,412,104.25
Interest payable 38,744,054.18 22,079,344.97
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Dividend payable 11,679,234.33 11,681,423.74
Other account payable 170,493,503.03 186,766,854.50
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities held for sales
Non-current liability due in 1 year 1,309,080,000.00 1,309,080,000.00
Other current liability
Total of current liability 1,716,529,384.77 1,729,051,865.17
Non-current liabilities：
Long-term loan 4,081,760,000.00 4,081,760,000.00
Bond payable
Including：preferred stock
Sustainable debt
Long-term payable 52,022,210.11 52,022,210.11
Long-term payable employees’s
remuneration
Special payable
Expected liabilities
Deferred income
Deferred income tax liability 116,322,792.69 116,526,766.79
Other non-current liabilities
Total non-current liabilities 4,250,105,002.80 4,250,308,976.90
Total of liability 5,966,634,387.57 5,979,360,842.07
Owners’ equity
Share capital 1,257,117,748.00 1,257,117,748.00
Other equity instrument
Including：preferred stock
Sustainable debt
Capital reserves 1,534,777,775.55 1,534,772,601.74
Less：Shares in stock
Other comprehensive income 364,645,163.20 479,920,085.76
Special reserves
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Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Surplus reserves 279,797,987.31 279,797,987.31
Common risk provision
Undistributed profit 1,786,036,918.50 1,657,681,399.78
Total of owner’s equity belong to the
5,222,375,592.56 5,209,289,822.59
parent company
Minority shareholders’ equity 942,844,628.26 919,117,303.20
Total of owners’ equity 6,165,220,220.82 6,128,407,125.79
Total of liabilities and owners’ equity 12,131,854,608.39 12,107,767,967.86
Legal Representative: Zhu Zhanliang Person in charge of accounting：Fang Zhi Accounting Dept Leader: Liu Xiaomei
2.Parent Company Balance Sheet
In RMB
Items At the end of term Beginning of term
Current asset：
Monetary fund 1,058,067,291.20 822,286,507.11
Financial assets measured at fair value
with variations accounted into current
income account
Derivative financial assets
Bill receivable
Account receivable
Prepayments 500,000.00 1,994,822.56
Interest receivable 128,791.66 137,958.34
Dividend receivable 12,376,405.10
Other account receivable 2,509,103.01 2,256,822.99
Inventories
Assets held for sales
Non-current asset due in 1 year
Other current asset
Total of current assets 1,073,581,590.97 826,676,111.00
Non-current assets：
Disposable financial asset 1,680,781,141.73 1,796,056,064.29
Expired investment in possess
Long-term receivable
16
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Long term share equity investment 5,014,658,953.66 5,053,688,539.24
Property investment 3,315,992.88 3,432,046.23
Fixed assets 3,378,814.10 3,734,470.83
Construction in progress
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 977,903.38 1,056,003.37
R & D petrol
Goodwill
Long-germ expenses to be amortized 2,836,135.37 3,261,555.68
Deferred income tax asset
Other non-current asset 75,000,000.00 75,000,000.00
Total of non-current assets 6,780,948,941.12 6,936,228,679.64
Total of assets 7,854,530,532.09 7,762,904,790.64
Current liabilities
Short-term loans
Financial liabilities measured at fair
value with variations accounted into
current income account
Derivative financial liabilities
Bill payable
Account payable
Advance payment
Employees’ wage payable 1,101,461.53 1,022,391.27
Tax payable 4,071,066.37 4,915,239.62
Interest payable 34,538,315.92 17,625,272.46
Dividend payable 11,679,234.33 11,681,423.74
Other account payable 15,671,140.48 6,378,723.77
Classified as held for sale debt
Non-current liability due in 1 year 997,000,000.00 997,000,000.00
Other current liability 434,353,329.87 309,154,118.44
Total of current liability 1,498,414,548.50 1,347,777,169.30
Non-current liabilities：
17
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Long-term loan 1,500,000,000.00 1,500,000,000.00
Bond payable
Including：preferred stock
Sustainable debt
Long-term payable 52,022,210.11 52,022,210.11
Long-term payable to employees
Special payable
Expected liabilities
Deferred income
Deferred income tax liability
Other non-current liabilities
Total of Non-current liabilities 1,552,022,210.11 1,552,022,210.11
Total of liability 3,050,436,758.61 2,899,799,379.41
Owners’ equity
Share capital 1,257,117,748.00 1,257,117,748.00
Other equity instrument
Including：preferred stock
Sustainable debt
Capital reserves 1,534,925,916.30 1,534,920,742.49
Less：Shares in stock
Other comprehensive income 364,645,163.20 479,920,085.76
Special reserves
Surplus reserves 279,797,987.31 279,797,987.31
Undistributed profit 1,367,606,958.67 1,311,348,847.67
Total of owners’ equity 4,804,093,773.48 4,863,105,411.23
Total of liabilities and owners’ equity 7,854,530,532.09 7,762,904,790.64
3.Consolidated Income statement
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 384,703,107.66 357,469,802.88
Incl：Business income 384,703,107.66 357,469,802.88
Interest income
Insurance fee earned
18
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Fee and commission received
II. Total business cost 307,231,221.67 318,457,896.36
Incl：Business cost 191,719,596.88 172,908,806.38
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Insurance policy dividend paid
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 13,214,271.44 12,676,975.39
Sales expense
Administrative expense 30,064,936.93 37,040,337.40
Financial expenses 72,232,416.42 95,831,777.19
Asset impairment loss
Add：Gains from change of fir value
（“-”for loss）
Investment gain（“-”for loss） 104,346,091.82 89,529,756.25
Incl: investment gains from affiliates 103,346,819.52 89,100,075.80
Gains from currency exchange（“-”for
loss）
III. Operational profit（“-”for loss） 181,817,977.81 128,541,662.77
Add ：Non-operational income 834,535.36 4,877,878.15
Including：Income from disposal of
non-current assets
Less：Non business expenses 112,564.76 292,090.94
Incl：Loss from disposal of non-current
assets
IV.Total profit(“-”for loss) 182,539,948.41 133,127,449.98
Less：Income tax expenses 31,625,277.63 24,865,313.61
V. Net profit 150,914,670.78 108,262,136.37
Net profit attributable to the owners of
127,187,345.72 89,949,365.89
parent company
Minority shareholders’ equity 23,727,325.06 18,312,770.48
VI. Other comprehensive income -115,274,922.56 -35,288,241.60
19
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Net of profit of other comprehensive inco
me attributable to owners of the parent co -115,274,922.56 -35,288,241.60
mpany.
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent accounting
period
1.Re-measurement of defined benefit pla
ns of changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be reclass
ified into profit or loss.
（II）
Other comprehensive income that will be -115,274,922.56 -35,288,241.60
reclassified into profit or loss.
1.Other comprehensive income under the
equity method investee can be reclassifie
d into profit or loss.
2.Gains and losses from changes in fair v
-115,274,922.56 -35,288,241.60
alue available for sale financial assets
3.Held-to-maturity investments reclassifi
ed to gains and losses of available for sal
e financial assets
4.The effective portion of cash flow hedg
es and losses
5.Translation differences in currency fina
ncial statements
6.Other
Net of profit of other comprehensive inco
me attributable to Minority shareholders’
equity
VII. Total comprehensive income 35,639,748.22 72,973,894.77
Total comprehensive income attributable
11,912,423.16 54,661,124.29
to the owner of the parent company
Total comprehensive income
23,727,325.06 18,312,770.48
attributable minority shareholders
VIII. Earnings per share
（I）Basic earnings per share 0.10 0.07
20
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
(II)Diluted earnings per share 0.10 0.07
If there are entities merged under common control, their net profit realized before the merger were totaled to
RMB***. While it was RMB*** previous period.
Legal Representative: Zhu Zhanliang Person in charge of accounting：Fang Zhi Accounting Dept Leader: Liu Xiaomei
4. Income statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 2,165,724.61 5,028,239.96
Less：Business cost 116,053.35 116,053.35
Business tax and surcharge 121,280.31 306,989.04
Sales expense
Administrative expense 13,076,357.09 20,606,795.44
Financial expenses 36,940,014.68 43,732,633.73
Asset impairment loss
Add：Gains from change of fir value
（“-”for loss）
Investment gain（“-”for loss） 104,346,091.82 90,453,462.46
Incl: investment gains from affiliates 103,346,819.52 90,023,782.01
II. Operational profit（“-”for loss） 56,258,111.00 30,719,230.86
Add ：Non-operational income
Including：Income from disposal
of non-current assets
Less：Non business expenses 7,697.44
Incl：Loss from disposal of
non-current assets
III.Total profit(“-”for loss) 56,258,111.00 30,711,533.42
Less：Income tax expenses
IV. Net profit（“-”for net loss） 56,258,111.00 30,711,533.42
V.Net of profit of other comprehensive i
-115,274,922.56 -35,288,241.60
ncome
（I）Other comprehensive income
items that will not be reclassified into
gains/losses in the subsequent
accounting period
21
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
2.Other comprehensive income under th
e equity method investee can not be recl
assified into profit or loss.
（ II ）
Other comprehensive income that will b -115,274,922.56 -35,288,241.60
e reclassified into profit or loss.
1.Other comprehensive income under th
e equity method investee can be reclassi
fied into profit or loss.
2.Gains and losses from changes in fair
-115,274,922.56 -35,288,241.60
value available for sale financial assets
3.Held-to-maturity investments reclassif
ied to gains and losses of available for s
ale financial assets
4.The effective portion of cash flow hed
ges and losses
5.Translation differences in currency fin
ancial statements
6.Other
VI. Total comprehensive income -59,016,811.56 -4,576,708.18
VII. Earnings per share：
（I）Basic earnings per share 0.04 0.02
(II)Diluted earnings per share 0.04 0.02
5. Consolidated Cash flow statement
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
371,262,765.70 317,519,096.15
rending of services
Net increase of customer deposits
and capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from
22
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
other financial bodies
Cash received against original
insurance contract
Net cash received from reinsurance
business
Net increase of client deposit and
investment
Net increase of the financial assets that
are measured at fair value and whose
movement is counted to the current
gain and loss
Cash received as interest, processing
fee and commission
Net increase of inter-bank fund
received
Net increase of repurchasing business
Tax returned
Other cash received from business
16,099,565.32 20,833,676.79
operation
Sub-total of cash inflow 387,362,331.02 338,352,772.94
Cash paid for purchasing of
12,403,004.65 16,967,355.13
merchandise and services
Net increase of client trade and
advance
Net increase of savings n central bank
and brother company
Cash paid for original contract claim
Cash paid for interest, processing fee
and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 52,008,190.07 56,500,358.92
Taxes paid 34,231,437.76 14,267,952.73
Other cash paid for business activities 13,776,325.92 9,965,765.68
Sub-total of cash outflow from
112,418,958.40 97,701,432.46
business activities
Cash flow generated by business
274,943,372.62 240,651,340.48
operation, net
II.Cash flow generated by investing
23
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Cash received from investment
retrieving
Cash received as investment gains 130,999,272.30 90,453,685.45
Net cash retrieved from disposal of
fixed assets, intangible assets, and 126,657.00 500.00
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to
131,125,929.30 90,454,185.45
investment activities
Cash paid for construction of fixed
assets, intangible assets and other 46,501,667.37 67,900,945.14
long-term assets
Cash paid as investment 10,428,570.00
Net increase of loan against pledge
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
46,501,667.37 78,329,515.14
investment activities
Net cash flow generated by investment 84,624,261.93 12,124,670.31
III.Cash flow generated by financing
Cash received as investment
Incl: Cash received as investment from
minor shareholders
Cash received as loans
Cash received from bond placing
Other financing –related ash received 5,173.81
Sub-total of cash inflow from financing
5,173.81
activities
Cash to repay debts 150,000,000.00
Cash paid as dividend, profit, or
58,218,904.68 76,521,124.54
interests
Incl: Dividend and profit paid by
subsidiaries to minor shareholders
24
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Other cash paid for financing activities 451,000.00 3,000,000.00
Sub-total of cash outflow due to
58,669,904.68 229,521,124.54
financing activities
Net cash flow generated by financing -58,664,730.87 -229,521,124.54
IV. Influence of exchange rate
alternation on cash and cash 269.98
equivalents
V.Net increase of cash and cash
300,902,903.68 23,255,156.23
equivalents
Add: balance of cash and cash
986,737,635.38 561,800,403.72
equivalents at the beginning of term
VI ..Balance of cash and cash
1,287,640,539.06 585,055,559.95
equivalents at the end of term
6. Cash Flow Statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
1,048,494.68 1,852,718.34
rending of services
Tax returned
Other cash received from business
137,956,058.57 843,838.72
operation
Sub-total of cash inflow 139,004,553.25 2,696,557.06
Cash paid for purchasing of
merchandise and services
Cash paid to staffs or paid for staffs 10,038,866.36 15,423,043.56
Taxes paid 300,681.47 424,191.47
Other cash paid for business activities 2,099,374.84 12,031,758.75
Sub-total of cash outflow from
12,438,922.67 27,878,993.78
business activities
Cash flow generated by business
126,565,630.58 -25,182,436.72
operation, net
II.Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains 130,999,272.30 90,453,685.45
25
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
Net cash retrieved from disposal of
fixed assets, intangible assets, and
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received 1,074,625.01 3,129,894.45
Sub-total of cash inflow due to
132,073,897.31 93,583,579.90
investment activities
Cash paid for construction of fixed
assets, intangible assets 229,745.41
and other long-term assets
Cash paid as investment 10,428,570.00
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
10,658,315.41
investment activities
Net cash flow generated by investment 132,073,897.31 82,925,264.49
III.Cash flow generated by financing
Cash received as investment
Cash received as loans
Cash received from bond placing
Other financing –related ash received 5,173.81
Sub-total of cash inflow from
5,173.81
financing activities
Cash to repay debts
Cash paid as dividend, profit, or
22,412,917.61 24,576,045.58
interests
Other cash paid for financing activities 451,000.00 3,000,000.00
Sub-total of cash outflow due to
22,863,917.61 27,576,045.58
financing activities
Net cash flow generated by financing -22,858,743.80 -27,576,045.58
IV. Influence of exchange rate
alternation on cash and cash 269.98
equivalents
V.Net increase of cash and cash 235,780,784.09 30,167,052.17
26
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2016
equivalents
Add: balance of cash and cash
822,286,507.11 332,632,828.69
equivalents at the beginning of term
VI ..Balance of cash and cash
1,058,067,291.20 362,799,880.86
equivalents at the end of term
II. Auditor’ report
Is the First Quarterly Report be audited?
□ Yes √No
The First Quarterly report is not audited.
27
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