Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017
Stock code: 000539,200539 Stock Abbreviation:Yue Dian Li A, Yue Dian Li B
Announcement No.: 2017-29
Guangdong Electric power Development Co., Ltd.
Summary of the Semi-Annual Report 2017
The summary is abstract from full-text of summary of the semi-annual report, for more details information ,
investors should found in the full-text of summary of the semi-annual report that published on website of
Shenzhen Stock Exchange and other website appointed by CSRC.
Statement
Directors other than the following ones have attended the Board meeting to review the interim report.
Name of absent director Position of absent director Reason Name of proxy
Li Yanxu Director Due to busniess Gao Shiqiang
Xu Ping Director Due to busniess Yang Xinli
Zhang Xueqiu Director Due to busniess Liu Tao
Non-standard auditor’s opinion
□ Applicable √Not applicable
Preliminary plan for profit distribution to the common shareholders or turning the capital reserve into the share
capital for the reporting period, which has been reviewed and approved at the board meeting
□ Applicable √Not applicable
The company will distribute no cash dividends or bonus shares and has no reserve capitalization plan.
The preference share profit distribution pre-plan approved by the Board of Directors
□ Applicable √Not applicable
II. Basic information about the company
1. Company profile
Stock abbreviation Yue Dian Li A, Yue Dian Li B Stock code 000539、200539
Stock exchange for listing Shenzhen Stock Exchange
Contact person and contact manner Board secretary Securities affairs Representative
Name Liu Wei Qin Xiao
36/F, South Tower, Yudean Plaza, No.2 36/F, South Tower, Yudean Plaza, No.2
Address Tianhe Road East, Guangzhou,Guangdong Tianhe Road East, Guangzhou,Guangdong
Province Province
Tel (020)87570276 (020)87570251
E-mail liuw@ged.com.cn qinxiao@ged.com.cn
2. Major accounting data and financial indicators
Does the company adjust retrospectively or restate accounting data of previous years due to change of the
accounting policy or correction of any accounting error?
□ Yes√ No
Reporting period Same period of last year YoY+/-（%）
Operating income（RMB） 12,385,486,577.00 10,234,989,566.00 21.01%
Net profit attributable to the shareholders 128,735,725.00 738,374,784.00 -82.56%
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017
of the listed company（RMB）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 156,802,731.00 743,501,966.00 -78.91%
listed company（RMB）
Cash flow generated by business operation,
1,578,925,284.00 4,696,500,182.00 -66.38%
net（RMB）
Basic earning per share(RMB/Share) 0.0245 0.14 -82.50%
Diluted gains per
0.0245 0.14 -82.50%
share(RMB/Share)(RMB/Share)
Weighted average ROE(%) 0.55% 3.09% -2.54%
As at the end of the
As at the end of last year YoY+/-（%）
reporting period
Gross assets (RMB) 70,230,573,061.00 70,677,003,760.00 -0.63%
Net assets attributable to shareholders of
23,104,526,322.00 23,378,847,225.00 -1.17%
the listed company （RMB）
3.Shareholders and shareholding
In Shares
Number of shareholders of
Total Number of common
preferred stocks of which
shareholders at the end of the 109,198 0
voting rights recovered in the
reporting period
report period(If any)
Shareholdings of Top 10 shareholders
Amount of Number or share
Shareholders Proportion Number of pledged/frozen
Nature of
of shares shares held at restricted shares
shareholder State of
held（%） period -end Amount
held share
State-owned
Guangdong Yudean Group Co., Ltd. 67.39% 3,538,005,285 1,893,342,621
legal person
State-owned
China Securities Finance Co., Ltd. 2.78% 145,748,980
legal person
Guangdong Guangfa Electric Power State-owned
2.22% 116,693,602
Investment Co., Ltd. legal person
Guangdong Electric Power State-owned
1.80% 94,367,341
Development Corporation legal person
Domestic
Harbin Hali Industry Co., Ltd. Non-State owned 0.79% 41,387,870
legal person
Domestic
Li Zhuo 0.42% 21,951,385
Natural person
National Social Security Fund 103 State-owned
0.38% 19,994,982
portfolio legal person
BBH A/C VANGUARD EMERGING Overseas Legal
0.33% 17,484,844
MARKETS STOCK INDEX FUND person
CHINA INT'L CAPITAL CORP Overseas Legal
0.29% 15,322,336
HONG KONG SECURITIES LTD person
Domestic
Harbin Daoli District Charity
Non-State owned 0.25% 12,921,300
Foundation
legal person
Explanation on associated relationship or concerted action The fourth largest shareholder Guangdong Electric Power Development
Corporation is the wholly-owned subsidiaries of the largest shareholder
of the above shareholders Yudean Group. These two companies have relationships; whether the
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017
other shareholders have relationships or unanimous acting was
unknown.
The Fifth largest shareholder Harbin Hali Industry Co., Ltd.
holds 35,467,266 A shares of the Company through stock account with
credit transaction and guarantee and holds 5,920,604 A shares through
ordinary stock account, hold41,387,870 shares of the Company's stock
totally.
The sixth largest shareholder Li Zhuo. holds 21,911,765 A shares of the
Note to the top 10 common stockholders involved in Company through stock account with credit transaction and guarantee
margin financing & securities lending (If any) and holds 39,620 A shares through ordinary stock account,
hold21,951,385 shares of the Company's stock totally.
The Tenth largest shareholder Harbin Daoli District Charity Foundation.
holds 12,783,900 A shares of the Company through stock account with
credit transaction and guarantee and holds 137,400 A shares through
ordinary stock account, hold12,921,300 shares of the Company's stock
totally.
4.Changing of controlling shareholder and practical controller of the Company.
Change of holding shareholder
□ Applicable √ Not applicable
No change of holding shareholder in the report period.
Change of substantial controller
□ Applicable √ Not applicable
No change of substantial controller in the report period.
5.Number of preference shareholders and shareholdings of top 10 of them
□ Applicable √ Not applicable
No preference shareholders in the reporting period
6.Corporate bonds
Are there any corporate bonds publicly offered and listed on the stock exchange, which were undue before the
approval date of this report or were due but could not be redeemed in full?
Yes
1.Basic information of corporate bonds
Bond name Bond short name Bond code Due day Bond balance ‘0000 Interest rate
2012 Corporate bonds of
Guangdong Electric
12 Yudean Bond 112162.SZ March 17,2020 120,000 4.95%
Power Development
Co., Ltd..
8. As at the end of the reporting period , the company's major financial indicators
In RMB’0000
As at the end of the reporting
Items As at the end of last year YoY+/-（%）
period
Debt ratio 58.84% 58.49% 0.35%
Items Reporting period Same period of last year YoY+/-（%）
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017
EBITDA interest coverage ratio 1.7 4.87 -65.09%
III. Performance discussion & analysis
1．Performance Review for Reporting period
Is the company subject to any disclosure requirements for special industries?
No
In the report period, the total electricity consumption of the society in Guangdong is 268.16 billion KWH and
increases by 4.6% on year-on-year basis with slightly higher increase rate. As West electricity quantity supply
increases by 8.97 billion KWH compared with that in the plan, the provincial nuclear power quantity and
pneumoelectric quantity increase by 12.47% and 3.51% on year-on-year basis respectively, the provincial
hydroelectric power quantity decreases by 36.27% on year-on-year basis, and the average utilization time for the
company controlled coal-fired units is 1959 hours and increases by 403 hours on year-on-year basis.
In the report period, the company net profits attributable to the listed company shareholders decrease sharply on
year-on-year basis due to the influence of the rising coal price and electricity market trade “discount”. Until June
2017, the total standard assets in the company consolidated statement is 70.231 billion yuan and decreases by
0.63% compared with that in the beginning of the year; the interests attributable to the listed company
shareholders is 23.105 billion yuan and decreases by 1.17% compared with that in the beginning of the year. The
standard business revenue realized in the company consolidated statement is 12.385 billion yuan and increases by
21.01% on year-on-year basis; the net profits attributable to the listed company shareholders is 129 million yuan
and decreases by 82.56% on year-on-year basis; the revenue per share is 0.0245 yuan (that for the same period of
the previous year is 0.1406 yuan). The total standard debt in the company consolidated statement is 41.323 billion
yuan with the asset-liability ratio of 58.84%.
In the report period, the company faces directly the adverse environment of the excess power capacity, “market
electricity” scale expansion and rising coal price, etc. and strives to change in the economic development new
normality positively. It strives to battle for the electricity quantity centering on each core index and key work
determined at the beginning of the year. The standard on-grid electricity quantity in the company consolidated
statement increases by 26.6% on year-on-year; it builds the early warning mechanism on the completion
conditions of key indexes and implements the same per level, strives to increase benefits by all means and
endeavors to realize profits in the first half year under the premise of losses occurrence in the first quarter, among
which, the net profits of the wind power business realizes increase constantly and increases by 148.87% on
year-on-year basis. The electricity sale subsidiaries of the company always keep the market competition
advantages, the long-term agreed and monthly concentrated bidding electricity quantity for previous years
accounts for 12.6% of the same type trade market scale under the case where the first-half-year long-term agreed
electricity quantity realizes 11.107 billion kWh and the electricity quantity participating in the monthly
concentrated bidding is 1.074 billion kWh and the company continues to maintain the leading role in the market.
The company carries forward the supply-side structure reform firmly, continues developing the clean energy plate
subject to the 13th Five-year Development Planning Report approved by the Board of Directors through
deliberation. And additional 2 controllable wind power projects totaling 80,000 KW are approved during the
report period and 2 controllable wind power projects totaling 100,000 kW are included into the local wind power
development and construction spare scheme in 2017. At the same time, the company implements carefully the
national requirements on the coal-fired units ultra-low emission and energy transformation and completes the
ultra-low emission transformation work of 8 fired-coal units totaling 4.27 million KW in the first half year.
2.Maters related to financial report
(1) Reason for changes in accounting policies, accounting estimates and accounting methods as compared to the
financial report for the prior year
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017
√Applicable □ Not applicable
In the first half year of 2017, the Company, based on the property and usage conditions of the current fixed assets,
summarizes the predicted service life and net residual value of various fixed assets, and adjusts the depreciation
life and the residual value ratio of partial fixed assets, which come into force since June 1. Therefore, under such
influence, the depreciation of the fixed assets of the Company in the first half year decreases by about 56 million
yuan and the net profit attributable to the parent company increases by about 33.23 million yuan; through
predication, the depreciation of the fixed assets in 2017 decreases by about 391 million yuan and the net profit
attributable to the parent company increases by about 223 million yuan.
(2) Reason for retrospective restatement to correct major accounting errors during the reporting period
□ Applicable √ Not applicable
No such cases in the reporting period.
(3) Reason for changes in scope of the consolidated financial statements as compared to the financial report for
the prior year
□ Applicable √ Not applicable
No such cases in the reporting period.
The Board of Directors of Guangdong Electric Power Development Co., Ltd.
Chairman of the board: Huang Zhenhai
August 31,2017
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