粤电力B:2016年第一季度报告全文(英文版)

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Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Guangdong Electric Power Development Co., Ltd.

The First Quarterly Report 2016

April 2016

1

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

1 Important notes

The Board of Directors,the Supervisory Committee, the directors, the supervisors, and executives of the

Company guarantee that there are no significant omissions, fictitious or misleading statements carried in the

Quarterly Report and we will accept individual and joint responsibilities for the truthfulness, accuracy and

completeness of the Quarterly Report.

Other directors attended the meeting on examining this Quarterly Report except for the following directors.

Name absent

Title Reason of absence Name of entrusted

director

Zhong Weimin Director Due to business Hong Rongkun

Yang Xinli Director Due to business Yao Jiheng

Zhang Xueqiu Director Due to business Liu Tao

Mr. Li Zhuoxian, Person in charge of the Company, Mr.Li Xiaoqing , Person in charge of accounting works, Mr.

Qin Jingdong ,CFO as well as person in charge of accounting institution represent and warrant the financial and

accounting report in the first quarterly report is true and complete.

IF THERE IS ANY CONFLICT BETWEEN THE CHINESE VERSION AND ITS ENGLISH

TRANSLATION, THE CHINESE VERSION WILL PREVAIL.

2

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

II. Main financial data and changes of shareholders

I.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) 4,405,938,708.00 6,068,031,708.00 -27.39%

Net profit attributable to the shareholders

110,019,230.00 758,001,796.00 -85.49%

of the listed company(RMB)

Net profit after deducting of non-recurring

gain/loss attributable to the shareholders of 110,018,307.00 627,568,982.00 -82.47%

listed company(RMB)

Cash flow generated by business operation,

2,036,376,774.00 2,652,328,931.00 -23.22%

net(RMB)

Basic earning per share(RMB/Share) 0.021 0.144 -85.42%

Diluted gains per

0.021 0.144 -85.42%

share(RMB/Share)(RMB/Share)

Weighted average return on equity

0.46% 3.49% -3.03%

(%)

Changes of this period-end

End of this period End of last period over same period-end of last

year(%)

Gross assets(RMB) 71,469,160,112.00 71,919,934,143.00 -0.63%

Net assets attributable to the shareholders

23,778,507,630.00 23,754,596,981.00 0.10%

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.)

Non-current asset disposal gain/loss(including the write-off part

-69,032.00

for which assets impairment provision is made)

3

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Govemment subsidy recognized in current gain and

loss(excluding those closely related to the Company’s business -659,954.00

and granted under the state’s policies)

Asset impairment provisions due to acts of God such as natural

disasters

Other non-operating income and expenditure except for the

1,011,857.00

aforementioned items

Less: Amount of influence of income tax 73,674.00

Amount of influence of minority interests(After tax) 208,274.00

Total 923.00 --

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.

4

Guangdong Electric Power 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

112,579 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

Yudean Group 67.39% 3,538,005,285 1,893,342,621

person

Co., Ltd.

China Securities

State-owned legal

Finance Co., 2.78% 145,748,980

person

Ltd.

Guangdong

Guangfa Electric State-owned legal

2.22% 116,693,602

Power Investment person

Co., Ltd.

Guangdong

Electric Power State-owned legal

1.80% 94,367,341

Development person

Corporation

GOLDEN

Overseas Legal

CHINA 0.62% 32,393,060

person

MASTER FUND

Domestic Natural

Li Zhuo 0.39% 20,457,885

person

GREENWOODS

Overseas Legal

CHINA ALPHA 0.39% 20,238,886

person

MASTER FUND

Overseas Legal

NORGES BANK 0.35% 18,209,318

person

CHINA INT'L

CAPITAL CORP Overseas Legal

0.30% 15,682,336

HONG KONG person

SECURITIES

5

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

LTD

BBH A/C

VANGUARD

EMERGING Overseas Legal

0.30% 15,675,144

MARKETS person

STOCK 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

RMB Common

Guangdong Yudean Group Co., Ltd. 1,644,662,664

shares

RMB Common

China Securities Finance Co., Ltd. 145,748,980

shares

Guangdong Guangfa Electric Power RMB Common

116,693,602

Investment Co., Ltd. shares

Guangdong Electric Power RMB Common

94,367,341

Development Corporation shares

Foreign shares

placed in

GOLDEN CHINA MASTER FUND 32,393,060

domestic

exchange

RMB Common

Li Zhuo 20,457,885

shares

Foreign shares

GREENWOODS CHINA ALPHA placed in

20,238,886

MASTER FUND domestic

exchange

Foreign shares

placed in

NORGES BANK 18,209,318

domestic

exchange

Foreign shares

CHINA INT'L CAPITAL CORP placed in

15,682,336

HONG KONG SECURITIES LTD domestic

exchange

Foreign shares

BBH A/C VANGUARD

placed in

EMERGING MARKETS STOCK 15,675,144

domestic

INDEX FUND

exchange

6

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

The fourth largest shareholder Guangdong Electric Power Development Corporation is the

Explanation on associated

wholly-owned subsidiaries of the largest shareholder Yudean Group. These two companies

relationship or concerted action of

have relationships; whether the other shareholders have relationships or unanimous acting

the above shareholders

was unknown.

Note to the top 10 common

The Fifth largest shareholder Li Zhuo holds 20,180,865 A shares of the Company through

stockholders involved in margin

stock account with credit transaction and guarantee and holds277,020 A shares through

financing & securities lending (If

ordinary stock account, hold 20,457,885 shares of the Company's stock totally.

any)

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

7

Guangdong Electric Power 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

It is indicated in the reporting period the net profits assigned to the shareholders of listed companies have

been 85.49% YoY drop. Weak power demand and anabatic competition have compelled drastic decline in electric

quantity. Another reduction of on-grid price released by the state as of January, 1st has an intensely negative effect

on the profits from power generation and return on investment from the associated company. Additionally,

income from equity disposition of the oil shale company was accounted from a year earlier, while the current

period is absent from it. Upon synthetic analysis of the aforesaid factors, the net profits are sizeable YoY drop.

II. The progress of significant events and influence, as well as the analysis and explanation on resolving

proposal.

√Applicable □Not applicable

On February 5, 2016, we received a Notice of China Securities Regulatory Commission on Acceptance of

Administrative Licensing Acceptance (160208), which suggested the Non-Public Stock Issuance of Listed

Company submitted was to be admitted.

On February 29, 2016, we were informed of the Notice of China Securities Regulatory Commission’s

Feedback on Administrative Licensing Issued by China Securities Regulatory Commission numbered 160208

(hereinafter referred to as CSRC). The Notice demanded us to present written description and explanation and

replied written comments to the administrative licensing review department of CSRC within 30 days. Based on

prudent deliberation with intermediary organizations, we submitted an application for deferred reply to CSRC on

March 29, 2016, for the sake of decent and favorable reply, fair implementation and supplement of 2015 annual

report and other work involved. The date for response was put off to the one until May 28, 2016.

We are engaging in the feedback together with intermediary organizations. Upon preparation of reply, we

will promptly fulfill the obligation of information disclosure and report relevant documents to CSRC.

The non-public stock issuance shall be verified and approved by CSRC. No or yes is uncertain. We will

promptly fulfill the obligation of information disclosure in light of CSRC’s verification.

Description of the website for

Overview of material matters Date of disclosing disclosing provisional

announcements

Adjustment on on-grid price of Name of Announcement :《Announcement

coal-fired units in the power-generating of Guangdong Electric Power

January 16,2016

plant held by us has been made as a Development Co., Ltd. on Electricity Rte

response to the Notice on Reduction of Adjustment》(2016-03),Published in

8

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

On-Grid Price of Guangdong China Securities Daily, Securities Times

Coal-Burning Electricity-Generating and http//.www.cninfo.com.cn.

Enterprises (YFG price [2015]820)

promulgated by Guangdong Development

and Reform Commission.

Name of Announcement :《Announcement

of Guangdong Electric Power

The interests of 2012 corporate bonds of

Development Co., Ltd. Concerning

the Company for the period from March

March 12,2016 payment of Corporate Bond Interest 》

18, 2015 to March 17 ,2016 will be paid on

(2016-06),Published in

March 18, 2016.

China Securities Daily, Securities Times

and http//.www.cninfo.com.cn.

Name of Announcement :《Announcement

In order to speed up all the works of the

Zhaoqing Dinghu Natural gas CCHP of Resolutions of the 2nd Meeting of the

project, the boaqrd of directors agreed to

Eighth Board of Directors of Guangdong

establish the project company in Zhaoqing

Dinghuu Area with He Jiang Electric Electric Power development Co., Ltd. By

Power Development Co., Ltd. By equity

March 26,2016 Correspondence in 2016 》( 2016-07 ) ,

proportion of 90% :10%, of which the

initial registered capital is RMB 100 《 Announcement of Guangdong Electric Power

million. According to the equity

Development Co., Ltd. on External Investment

proportion, the company shall contribute

RMB 90 million, taking 90% of the total 》(2016-08),Published in

equity. China Securities Daily, Securities Times

and http//.www.cninfo.com.cn.

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

Time of Period of

Commitm Fulfill

Commitment Type Contents making commitme

ent maker ment

commitment nt

Commitment on share

reform

Commitment in the

acquisition report or

the report on equity

changes

Commitments in Guangdon Yue Dian Li is the only quoted platform of Yudean November 3, Within 5 y Under

assets reorganization g Yudean Group’s electricity asset integration within the 2011 ears after t fulfillm

9

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Group boundary. ② Except Yue Dian Li and the he complet ent

Co., Ltd. electricity assets controlled by it, within 5 years ion of maj

after the last recombination is done, Yudean Group or asset re

will pump the assets which meet the conditions of organizati

launching after reformation into Yue Dian Li on

gradually through purchasing and recombination

and other ways, according to the situation of

solutions to different problems, e.g. the imperfect

examination and approval procedures, the situation

of profitability, cooperation agreement and land

utilization. ③ At the aspects of the development

of power project and assets purchasing, Yudean

Group provides the priority for Yue Dian Li choose.

If Yue Dian Li gives up development and

purchasing, Guangkong Group will join Yue Dian

Li under the situation that the project is completed

and put into production, and that the purchase is

done and the project meets the conditions of

listing.For details,

see June 5, 2014, published in the designated medi

a "Announcement of Guangdong Electric Power De

velopment Co.,Ltd. matters related to commitments

".

Commitments make in

initial public offering

or re-financing

Equity incentive

commitment

Guangdon To maintain the stability of the market, Yudean

Other commitments Under

g Yudean Group promised not to reduce the Yudean electric

for medium and small July 8, 2015 12 months fulfillm

Group power shares within the next 12 months.

shareholders ent

Co., Ltd.

Completed on

Yes

time(Y/N)

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 same period of last year, and statement of causations.

√ Applicable □ Not applicable

Forenotice of earnings: Year-on-Year drop

Type of date filled for the prediction: Interval figures

10

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Same period of

Year beginning to end of next

the previous Increase or decrease%

report period

year

Estimated amount of

accumulative net -- 1,720,995,015 Decrease --

profit(RMB’0000)

Basic earnings per shares Decrease

-- 0.33 --

(Yuan/share)

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

Short investmen the proportio the end of of the

Security Security n at the the end of Accounti Source of

form of t beginning n at the the reporting

category code beginning the ng items the shares

security 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

235,837,9 55,532,25 55,532,25 337,080,7 assets Transfere

Stock 600642 Shenergy 1.22% 1.22% 0.00

88.00 0 0 57.50 available e

for sales

Financial

Shenzhen 15,890,62 12,600,00 12,600,00 91,854,00 assets Issue

Stock 000027 0.32% 0.32% 0.00

Energy 8.00 0 0 0.00 available obtain

for sales

Financial

3,600,000 9,576,000 assets Establish

Stock 831039 GMGITC 1,800,000 1.29% 1,800,000 1.29% 0.00

.00 .00 available ment

for sales

255,328,6 69,932,25 69,932,25 438,510,7

Total -- -- 0.00 -- --

16.00 0 0 57.50

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

11

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Details can be found in the Record Chart of the Investor

March 4,2016 Onsite investigation Organization Relation Activity disclosed on Juchao

website(www.cninfo.com.cn) on 9 March 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

12

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

IV. Financial Statement

一、 Financial statement

1. Consolidated Balance sheet

Prepared by:Guangdong Electric Power Development Co., Ltd. Unit :RMB

Items Year-end balance Year-beginning balance

Current asset:

Monetary fund 5,256,191,073.00 5,237,406,725.00

Settlement provision

Outgoing call loan

Trading financial assets

Bill receivable

Account receivable

Prepayments 1,983,421,665.00 2,484,683,890.00

Insurance receivable 1,172,505,125.00 1,063,701,630.00

Reinsurance receivable 10,152,900.00 10,232,658.00

Provisions of Reinsurance contracts receivable

Interest receivable

Dividend receivable 4,000,000.00

Other account receivable 167,474,914.00 188,899,280.00

Repurchasing of financial assets

Inventories 1,556,892,953.00 1,333,654,623.00

Non-current asset due in 1 year

Other current asset 673,832,860.00 638,461,972.00

Total of current assets 10,820,471,490.00 10,961,040,778.00

Non-current assets:

Loans and payment on other’s behalf disbursed

Disposable financial asset 979,510,758.00 1,094,350,488.00

Expired investment in possess

Long-term receivable 130,020,451.00 128,640,631.00

Long term share equity investment 5,940,735,480.00 5,924,410,159.00

Property investment 9,408,934.00 9,567,835.00

13

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Fixed assets 43,377,810,213.00 44,330,167,621.00

Construction in progress 6,494,187,978.00 5,613,398,840.00

Engineering material 1,949,034.00 1,673,547.00

Fixed asset disposal 3,829,573.00 3,475,384.00

Production physical assets

Gas & petrol

Intangible assets 1,651,641,035.00 1,663,430,069.00

R & D petrol

Goodwill 27,486,780.00 27,486,780.00

Long-germ expenses to be amortized 28,497,252.00 28,843,225.00

Differed income tax asset 141,206,054.00 116,237,351.00

Other non-current asset 1,862,405,080.00 2,017,211,435.00

Total of non-current assets 60,648,688,622.00 60,958,893,365.00

Total of assets 71,469,160,112.00 71,919,934,143.00

Current liabilities

Short-term loans 5,863,560,000.00 6,288,060,000.00

Loan from Central Bank

Deposit received and hold for others

Call loan received

Trade off financial liabilities

Bill payable

Account payable 429,779,553.00 593,971,146.00

Advance payment 2,092,910,822.00 1,739,227,291.00

Selling of repurchased financial assets 285,419.00 244,798.00

Fees and commissions receivable

Employees’ wage payable 157,573,073.00 123,477,922.00

Tax payable 282,688,128.00 404,729,354.00

Interest payable 97,993,215.00 105,492,698.00

Dividend payable 8,640,994.00 8,640,994.00

Other account payable 3,427,739,017.00 3,536,133,625.00

Reinsurance fee payable

Insurance contract provision

Entrusted trading of securities

Entrusted selling of securities

14

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Non-current liability due in 1 year 1,807,312,495.00 1,851,670,652.00

Other current liability 1,725,547,123.00 1,711,348,630.00

Total of current liability 15,894,029,839.00 16,362,997,110.00

Non-current liabilities:

Long-term loan 21,396,064,008.00 21,303,229,910.00

Bond payable 1,196,267,976.00 1,196,029,762.00

Long-term payable 2,442,174,403.00 2,495,443,111.00

Long-term payable employees' remuneration 81,986,500.00 85,827,126.00

Special payable 24,711,974.00 24,711,974.00

Expected liabilities 103,748,941.00 103,256,725.00

Differed income 58,338,858.00 87,243,028.00

Differed income tax liability

Other non-current liabilities 39,000,002.00 39,000,000.00

Total non-current liabilities 25,342,292,662.00 25,334,741,636.00

Total of liability 41,236,322,501.00 41,697,738,746.00

Owners’ equity

Share capital 5,250,283,986.00 5,250,283,986.00

Capital reserves 5,007,098,375.00 5,007,077,158.00

Less:Shares in stock

Other Comprehensive Income 159,578,917.00 245,708,715.00

Special reserves

Surplus reserves 5,812,191,775.00 5,812,191,775.00

Common risk provision

Undistributed profit 7,549,354,577.00 7,439,335,347.00

Different of foreign currency translation

Total of owner’s equity belong to the parent company 23,778,507,630.00 23,754,596,981.00

Minority shareholders’ equity 6,454,329,981.00 6,467,598,416.00

Total of owners’ equity 30,232,837,611.00 30,222,195,397.00

Total of liabilities and owners’ equity 71,469,160,112.00 71,919,934,143.00

2. Balance sheet of the Parent Company Unit:RMB

Items Year-end balance Year-beginning balance

Current asset:

Monetary fund 463,827,576.00 682,950,639.00

15

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Trading financial assets

Bill receivable

Account receivable 125,444,773.00 134,539,664.00

Prepayments 115,227,550.00 115,303,150.00

Interest receivable 769,895.00 1,818,442.00

Dividend receivable 17,512,934.00 21,512,934.00

Other account receivable 115,754,786.00 318,483,048.00

Inventories 145,241,927.00 141,559,999.00

Non-current asset due in 1 year

Other current asset 10,508,362.00

Total of current assets 983,779,441.00 1,426,676,238.00

Non-current assets:

Disposable financial asset 979,510,758.00 1,094,350,488.00

Expired investment in possess

Long-term receivable 300,000,000.00 100,000,000.00

Long term share equity investment 22,922,342,200.00 22,588,550,554.00

Property investment 9,408,936.00 9,567,835.00

Fixed assets 1,183,696,180.00 1,217,618,892.00

Construction in progress 29,499,766.00 26,156,889.00

Engineering material

Fixed asset disposal 27,838.00

Production physical assets

Gas & petrol

Intangible assets 94,929,411.00 95,876,179.00

R & D petrol

Goodwill

Long-germ expenses to be amortized

Differed income tax asset

Other non-current asset 653,004,000.00 653,004,000.00

Total of non-current assets 26,172,419,089.00 25,785,124,837.00

Total of assets 27,156,198,530.00 27,211,801,075.00

Current liabilities

Short-term loans 1,000,000,000.00 900,000,000.00

Trade off financial liabilities

16

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Bill payable

Account payable 210,189,357.00 292,714,747.00

Advance payment

Employees’ wage payable 29,184,626.00 30,063,156.00

Tax payable 10,720,642.00 21,266,249.00

Interest payable 13,889,793.00 52,100,633.00

Dividend payable 8,640,994.00 8,640,994.00

Other account payable 86,321,667.00 112,031,125.00

Non-current liability due in 1 year

Other current liability 1,521,903,288.00 1,509,599,589.00

Total of current liability 2,880,850,367.00 2,926,416,493.00

Non-current liabilities:

Long-term loan 1,500,000,000.00 1,500,000,000.00

Bond payable 1,196,267,976.00 1,196,029,762.00

Long-term payable

Long-term payable employees' remuneration 23,430,233.00 24,192,962.00

Special payable

Expected liabilities

Differed income 52,957,876.00 52,918,949.00

Differed income tax liability 25,862,069.00 54,572,001.00

Other non-current liabilities

Total of Non-current liabilities 2,798,518,154.00 2,827,713,674.00

Total of liability 5,679,368,521.00 5,754,130,167.00

Owners’ equity

Share capital 5,250,283,986.00 5,250,283,986.00

Capital reserves 5,609,843,060.00 5,609,821,843.00

Less:Shares in stock

Other Comprehensive Income 159,578,918.00 245,708,715.00

Special reserves

Surplus reserves 5,812,191,775.00 5,812,191,775.00

Undistributed profit 4,644,932,270.00 4,539,664,589.00

Different of foreign currency translation

Total of owners’ equity 21,476,830,009.00 21,457,670,908.00

Total of liabilities and owners’ equity 27,156,198,530.00 27,211,801,075.00

17

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

3. Consolidated Profit statement Unit:RMB

Same period of the

Items Report period

previous year

I. Income from the key business 4,405,938,708.00 6,068,031,708.00

Incl:Business income 4,405,938,708.00 6,068,031,708.00

Interest income

Insurance fee earned

Fee and commission received

II. Total business cost 4,121,004,327.00 5,087,326,563.00

Incl:Business cost 3,593,590,924.00 4,474,855,779.00

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 32,165,790.00 40,776,196.00

Sales expense 304,397.00 458,135.00

Administrative expense 147,067,842.00 155,667,663.00

Financial expenses 347,875,374.00 415,568,790.00

Asset impairment loss

Add:Gains from change of fir value (“-”for loss)

Investment gain(“-”for loss) 16,325,321.00 300,897,296.00

Incl: investment gains from affiliates

Gains from currency exchange(“-”for loss)

III. Operational profit(“-”for loss 301,259,702.00 1,281,602,441.00

Add:Non-business income 4,265,515.00 14,795,617.00

Less:Non business expenses 1,327,233.00 407,451.00

Incl:Loss from disposal of non-current assets

IV.Total profit(“-”for loss) 304,197,984.00 1,295,990,607.00

Less:Income tax expenses 78,321,126.00 245,424,599.00

V. Net profit(“-”for net loss 225,876,858.00 1,050,566,008.00

Including: Net profit realized by the entity taken over before

18

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

the takeover

Net profit attributable to the owners of parent company 110,019,230.00 758,001,796.00

Minority shareholders’ equity 115,857,628.00 292,564,212.00

VI. Earnings per share:

(I)Basic earnings per share 0.021 0.144

(II)Diluted earnings per share 0.021 0.144

VII. Other comprehensive income -86,129,797.00 73,442,846.00

VIII. Total comprehensive income 139,747,061.00 1,124,008,854.00

Total comprehensive income attributable to the owner of the

23,889,433.00 831,444,642.00

parent company

Total comprehensive income attributable minority shareholders 115,857,628.00 292,564,212.00

4. Profit statement of the Parent Company Unit:RMB

Same period of the

Items Report period

previous year

I. Income from the key business 318,809,041.00 459,873,379.00

Incl:Business cost 264,269,337.00 344,872,267.00

Business tax and surcharge 2,516,242.00 4,259,681.00

Sales expense 9,300.00

Administrative expense 22,052,521.00 27,368,106.00

Financial expenses 55,361,550.00 84,020,004.00

Asset impairment loss

Add:Gains from change of fir value (“-”for loss)

Investment gain(“-”for loss) 125,619,860.00 443,923,604.00

Incl: investment gains from affiliates

II. Operational profit(“-”for loss 100,219,951.00 443,276,925.00

Add:Non-business income 156,876.00 12,837.00

Less:Non business expenses

Incl:Loss from disposal of non-current assets

III.Total profit(“-”for loss) 100,376,827.00 443,289,762.00

Less:Income tax expenses -4,890,854.00 1,965,888.00

IV. Net profit(“-”for net loss) 105,267,681.00 441,323,874.00

V. Earnings per share:

(I)Basic earnings per share

19

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

(II)Diluted earnings per share

VI. Other comprehensive income -86,129,797.00 73,442,846.00

VII. Total comprehensive income 19,137,884.00 514,766,720.00

5. Consolidated Cash flow statement Unit :RMB

Same period of the

Items Report period

previous year

I.Cash flows from operating activities

Cash received from sales of goods or rending of services 5,674,442,022.00 7,245,394,694.00

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 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 trade financial asset disposal

Cash received as interest, processing fee and commission

Net increase of inter-bank fund received

Net increase of repurchasing business

Tax returned 598,754.00

Other cash received from business operation 41,332,891.00 54,031,576.00

Sub-total of cash inflow 5,715,774,913.00 7,300,025,024.00

Cash paid for purchasing of merchandise and services 2,586,671,975.00 3,427,281,465.00

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 421,496,400.00 385,764,297.00

Taxes paid 580,585,560.00 715,627,949.00

Other cash paid for business activities 90,644,204.00 119,022,382.00

Sub-total of cash outflow from business activities 3,679,398,139.00 4,647,696,093.00

Cash flow generated by business operation, net 2,036,376,774.00 2,652,328,931.00

20

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

II.Cash flow generated by investing

Cash received from investment retrieving

Cash received as investment gains 4,000,000.00

Net cash retrieved from disposal of fixed assets, intangible

1,454,595.00 72,000.00

assets, and other long-term assets

Net cash received from disposal of subsidiaries or other

187,452,822.00

operational units

Net cash received from disposal of subsidiaries or other

52,028,777.00

operational units

Sub-total of cash inflow due to investment activities 5,454,595.00 239,553,599.00

Cash paid for construction of fixed assets, intangible assets and

896,503,587.00 1,111,644,626.00

other long-term assets

Cash paid as investment

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 investment activities 896,503,587.00 1,111,644,626.00

Net cash flow generated by investment -891,048,992.00 -872,091,027.00

III.Cash flow generated by financing

Cash received as investment

Incl: Cash received as investment from minor shareholders

Cash received as loans 1,543,634,099.00 5,492,600,000.00

Cash received from bond placing

Other financing –related ash received 21,216.00 4,990,000.00

Sub-total of cash inflow from financing activities 1,543,655,315.00 5,497,590,000.00

Cash to repay debts 2,080,799,113.00 5,950,980,347.00

Cash paid as dividend, profit, or interests 589,399,636.00 819,487,417.00

Incl: Dividend and profit paid by subsidiaries to minor

shareholders

Other cash paid for financing activities 42,421,305.00

Sub-total of cash outflow due to financing activities 2,670,198,749.00 6,812,889,069.00

Net cash flow generated by financing -1,126,543,434.00 -1,315,299,069.00

IV. Influence of exchange rate alternation on cash and cash

equivalents

V.Net increase of cash and cash equivalents 18,784,348.00 464,938,835.00

Add: balance of cash and cash equivalents at the beginning of 5,237,406,725.00 4,548,277,314.00

21

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

term

VI.Balance of cash and cash equivalents at the end of term 5,256,191,073.00 5,013,216,149.00

6. Cash flow statement of the Parent Company Unit:RMB

Same period of the

Items Report period

previous year

I.Cash flows from operating activities

Cash received from sales of goods or rending of services 386,301,628.00 597,584,728.00

Tax returned 132,753.00

Other cash received from business operation 7,779,609.00 6,943,410.00

Sub-total of cash inflow 394,081,237.00 604,660,891.00

Cash paid for purchasing of merchandise and services 271,094,555.00 134,424,763.00

Cash paid to staffs or paid for staffs 87,990,980.00 78,084,538.00

Taxes paid 26,048,790.00 66,715,695.00

Other cash paid for business activities 8,590,444.00 12,503,020.00

Sub-total of cash outflow from business activities 393,724,769.00 291,728,016.00

Cash flow generated by business operation, net 356,468.00 312,932,875.00

II.Cash flow generated by investing

Cash received from investment retrieving 300,000,000.00 519,600,000.00

Cash received as investment gains 115,860,806.00 206,724,177.00

Net cash retrieved from disposal of fixed assets, intangible

assets, and other long-term assets

Net cash received from disposal of subsidiaries or other

187,452,822.00

operational units

Other cash receivable for investment activities

Sub-total of cash inflow due to investment activities 415,860,806.00 913,776,999.00

Cash paid for construction of fixed assets, intangible assets and

32,846,592.00 28,880,634.00

other long-term assets

Cash paid as investment 620,400,000.00 450,000,000.00

Net cash received from subsidiaries and other operational units

Other cash paid for investment activities

Sub-total of cash outflow due to investment activities 653,246,592.00 478,880,634.00

Net cash flow generated by investment -237,385,786.00 434,896,365.00

III.Cash flow generated by financing

Cash received as loans

22

Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2016

Cash received from bond placing 700,000,000.00 2,100,000,000.00

Other financing –related ash received

Sub-total of cash inflow from financing activities 21,217.00

Cash to repay debts 700,021,217.00 2,100,000,000.00

Cash paid as dividend, profit, or interests 600,000,000.00 2,649,999,300.00

Other cash paid for financing activities 82,114,962.00 203,655,357.00

Sub-total of cash outflow due to financing activities 214,747.00

Net cash flow generated by financing 682,114,962.00 2,853,869,404.00

IV. Influence of exchange rate alternation on cash and cash

17,906,255.00 -753,869,404.00

equivalents

V.Net increase of cash and cash equivalents

Add: balance of cash and cash equivalents at the beginning of

-219,123,063.00 -6,040,164.00

term

VI.Balance of cash and cash equivalents at the end of term 682,950,639.00 468,233,799.00

463,827,576.00 462,193,635.00

二、 Auditor's report

If the interim report is audited

□ Yes√ No

23

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