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粤电力B:2017年第三季度报告全文(英文版)2017-10-31  

						                                          The Third Quarterly Report 2017




Guangdong Electric Power Development Co., Ltd.



       The Third Quarterly Report 2017




               October 2017




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                                                                                     The Third Quarterly Report 2017


                                               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.

All of the directors presented the board meeting at which this Quarterly Report was examined.

Mr. Huang Zhenhai, Person in charge of the Company, Mr.Liu Wei , Person in charge of accounting works,
Mr.Meng Fei ,CFO as well as person in charge of accounting institution represent and warrant the financial and
accounting report in the third quarterly report is true and complete.




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                                                                                                          The Third Quarterly Report 2017




                                            II. Basic Information of the Company



I.Main accounting 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
                                       As at the end of the reporting                                      Changed (%)over end of
                                                                            As at the end of last year
                                                      period                                                          prev. year

Gross assets(RMB)                                   70,981,629,233.00               70,677,003,760.00                             0.43%

Net assets attributable to the
shareholders of the listed company                    23,741,518,453.00               23,378,847,225.00                             1.55%
(RMB)

                                                                  Increase/decrease over Between beginning of
                                                                                                                    Changed (%)over
                                         Reporting period         the same period of last the year to the end of
                                                                                                                      end of prev. year
                                                                       year(%)             the report period

Operating income(RMB)                    7,546,970,420.00                      21.58%       19,932,456,997.00                    21.23%

Net profit attributable to the
shareholders of the listed company           653,326,357.00                      -11.50%         782,062,082.00                    -47.03%
(RMB)

Net profit after deducting of
non-recurring gain/loss attributable
                                             642,264,511.00                      -13.74%         799,067,242.00                    -46.30%
to the shareholders of listed
company(RMB)

Cash flow generated by business
                                                 --                         --                 3,368,415,745.00                    -58.16%
operation, net(RMB)

Basic earning per
                                                          0.124                  -11.43%                    0.149                  -46.98%
share(RMB/Share)

Diluted gains per
                                                          0.124                  -11.43%                    0.149                  -46.98%
share(RMB/Share)(RMB/Share)

Weighted average return on
                                                          2.79%                   -0.34%                   3.24%                    -2.94%
equity(%)
Items and amount of non-current gains and losses

√ Applicable □ Not applicable

                                                                                                                                    In RMB

                        Items                          Amount (Year-beginning to the                          Notes


                                                                                                                                             3
                                                                                                    The Third Quarterly Report 2017


                                                     end of the report period.)

Non-current asset disposal gain/loss(including
the write-off part for which assets impairment                       -607,211.00
provision is made)

Govemment subsidy recognized in current gain
and loss(excluding those closely related to the
                                                                   14,710,020.00
Company’s business and granted under the state’s
policies)

                                                                                   Guangqian company received the Decisions on
                                                                                   Handling of the Tax Affairs (SGSJC[2017]
                                                                                   No.0013) issued by the Inspection Department
Effect on current gains/losses when a one-off
                                                                                   of Shenzhen Municipal Office, SAT on June 26,
adjustment is make to current gains/losses                        -27,450,327.00
                                                                                   2017, which requires Guangqian company to pay
according to requirements of taxation.
                                                                                   VAT and overdue fees(late fee of RMB 27.4503
                                                                                   million occurred). Such decisions are under
                                                                                   negotiation among several parties at present.

Other non-business income and expenditures
                                                                   -3,532,238.00
other than the above

Less: Amount of influence of income tax                               374,180.00

  Influenced amount of minor shareholders’
                                                                     -248,776.00
equity (after tax)

Total                                                             -17,005,160.00                           --

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 recorgnized 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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                                                                                                      The Third Quarterly Report 2017


II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
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 with the
     Total number of common
                                                   103,838                voting power recovered at the end of the                0
   shareholders at the period-end
                                                                                  reporting period(if any)
                                              Shares held by the top 10 shareholders

                                                               Share                     Amount of tradable   Pledging or freezing
                                      Properties of
        Shareholder name                                     proportion     Quantity        shares with     Status of the
                                      shareholder                                                                          Quantity
                                                                 %                        Conditional held     shares
Guangdong Yudean Group Co., State-owned legal
                                                                67.39% 3,538,005,285         1,893,342,621
Ltd.                             person

China Securities Finance Co.,    State-owned legal
                                                                  2.78%    145,748,980
 Ltd.                            person

Guangdong Guangfa Electric State-owned legal
                                                                  2.22%    116,693,602
Power Investment Co., Ltd.       person

Guangdong Electric Power         State-owned legal
                                                                  1.80%     94,367,341
Development Corporation          person

                                 Domestic Non-State
Harbin Hali Industry Co., Ltd.                                    0.71%     37,405,712
                                 owned legal person

                                 Domestic Natural
Li Zhuo                                                           0.59%     31,009,743
                                 person

Harbin Daoli District Charity    Domestic Non-State
                                                                  0.52%     27,529,778
Foundation                       owned legal person

                                 National Social
National Social Security Fund
                                 Security Fund 103                0.42%     21,994,982
103 portfolio
                                 portfolio

                                 Domestic Natural
Zheng Jianxiang                                                   0.35%     18,453,452
                                 person

BBH A/C VANGUARD
EMERGING MARKETS                 Overseas Legal person            0.32%     16,613,688
STOCK INDEX FUND

                                     Shareholding of top 10 shareholders of unrestricted shares
                                                               Quantity of unrestricted                   Share type
                Name of the shareholder                      shares held at the end of the
                                                                                                 Share type            Quantity
                                                                   reporting period
Guangdong Yudean Group Co., Ltd.                                           1,644,662,664 RMB Common shares             1,644,662,664

China Securities Finance Co., Ltd.                                           145,748,980 RMB Common shares              145,748,980

Guangdong Guangfa Electric Power Investment Co.,
                                                                             116,693,602 RMB Common shares              116,693,602
Ltd.


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                                                                                                   The Third Quarterly Report 2017


Guangdong Electric Power Development Corporation                         94,367,341 RMB Common shares                  94,367,341

Harbin Hali Industry Co., Ltd.                                           37,405,712 RMB Common shares                  37,405,712

Li Zhuo                                                                  31,009,743 RMB Common shares                  21,362,585

Harbin Daoli District Charity Foundation                                 27,529,778 RMB Common shares                  27,529,778

National Social Security Fund 103 portfolio                              21,994,982 RMB Common shares                  21,994,982

                                                                                      Foreign shares placed in
Zheng Jianxiang                                                          18,453,452                                    18,453,452
                                                                                      domestic exchange

BBH A/C VANGUARD EMERGING MARKETS                                                     Foreign shares placed in
                                                                         16,613,688                                    16,613,688
STOCK INDEX FUND                                                                      domestic exchange

                                                        The fourth largest shareholder Guangdong Electric Power Development
Explanation on shareholders participating in the margin Corporation is the wholly-owned subsidiaries of the largest shareholder
trading business                                        Yudean Group. These two companies have relationships; whether the
                                                        other shareholders have relationships or unanimous acting was unknown.

                                                        The Fifth largest shareholder Harbin Hali Industry Co., Ltd.
                                                         holds 28,202,907 A shares of the Company through stock account with
                                                        credit transaction and guarantee and holds 9,202,805 A shares through
                                                        ordinary stock account, holds 37,405,712 shares of the Company's stock
                                                        totally.
                                                        The sixth largest shareholder Li Zhuo. holds 30,930,123 A shares of the
Participation of top 10 unconditional common share      Company through stock account with credit transaction and guarantee and
shareholders in securities margin trading (if any)      holds 79,620 A shares through ordinary stock account, holds 31,009,743
                                                        shares of the Company's stock totally.
                                                        The seventh largest shareholder Harbin Daoli District Charity Foundation.
                                                        holds 27,392,378 A shares of the Company through stock account with
                                                        credit transaction and guarantee and holds 137,400 A shares through
                                                        ordinary stock account, holds 27,529,778 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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                                                                                                    The Third Quarterly Report 2017




III. Significant Events

I. Particular about large-margin change of main accounting statement item and financial index and its
reason.

√ Applicable □ Not applicable
During the reporting period, the net profit attributable to shareholders of the listed company decreased by 47.03%
year on year, which is mainly due to the acceleration of the marketization of electricity market and the
intensification of market competition, the sharp drop of the company's on-grid electricity price and the sustained
high coal price. Based on the above factors, the company's net profit fell sharply year on year.
During the reporting period, the net cash flow arising from operating activities decreased by 58.16% year-on-year,
which is mainly due to the sustained high coal price and the significant increase in the cash payment for
purchasing goods and receiving labor services, resulting in the decrease in the net cash flow from operating
activities.

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

□ Applicable √Not applicable

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
There are no commitments that the company, shareholders, actual controller, acquirer, directors, supervisors,
senior executives or other related parties have fulfilled during the reporting period and have not yet fulfilled by the
end of reporting period.

IV.Prediction of Business performance for 2017

Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
 probably or the warning of its material change compared with the corresponding period of the last year and
 explanation of reason.

□ Applicable√ Not applicable

V. Securities investment

√ Applicable □Not applicable
                                       Mode of Book Changes Cumulat Purchas             Sale    Gain/los Book
                     Stock Initial                                                                                  Account Source
Security Security                      accounti   value in    fair ive fair     e      amount s of the     value
                    Abbrevi investm                                                                                   ing    of the
category   code                        ng         balance value of value      amount   in the   reportin balance
                     ation: ent cost                                                                                 items   shares
                                       measure    at the the this changes     in the    this    g period   at the


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                                                                                                            The Third Quarterly Report 2017


                                           ment     beginni period          in        this     period             end of
                                                     ng of                equity     period                         the
                                                      the                                                         reportin
                                                    reportin                                                      g period
                                                    g period

                                                                                                                             Financia
Domesti                                    Fair
                    Shenzhe                                                                                                  l assets
c and                            15,890, value       86,562, -5,292,0 65,829,                           1,890,0 81,270,                 Own-Fu
          000027 n                                                                      0.00     0.00                        availabl
foreign                          628.00 measure      000.00       00.00   372.00                          00.00    000.00               nds
                    Energy                                                                                                   e for
stocks                                     ment
                                                                                                                             sales

                                                                                                                             Financia
Domesti                                    Fair
                                                                                                                             l assets
c and               Shenerg 235,837 value           325,974 4,997,9 95,134,                             12,217, 330,972                 Own-Fu
          600642                                                                        0.00     0.00                        availabl
foreign             y            ,988.00 measure ,308.00          02.00   222.00                         095.00 ,210.00                 nds
                                                                                                                             e for
stocks                                     ment
                                                                                                                             sales

                                                                                                                             Financia
Domesti                                    Fair
                                                                                                                             l assets
c and                            3,600,0 value       7,200,0 1,080,0 4,680,0                            234,000 8,280,0                 Own-Fu
          831039 NEEQ                                                                   0.00     0.00                        availabl
foreign                            00.00 measure       00.00      00.00     00.00                           .00     00.00               nds
                                                                                                                             e for
stocks                                     ment
                                                                                                                             sales

                                255,328             419,736 785,902 165,643                             14,341, 420,522
Total                                         --                                        0.00     0.00                           --            --
                                 ,616.00             ,308.00        .00 ,594.00                          095.00 ,210.00

Disclosure date for the
notice of approval by the
Board (If any)

Disclosure date for the
notice of approval by
shareholders’ Meeting (If
any)

VI. Investment in derivatives
□ Applicable √Not applicable
There is no derivative investment during the report 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

                                                                                    Details can be found in the Record Chart of the Investor
January 12,2017         Onsite investigation       Organization                     Relation Activity disclosed on Juchao
                                                                                    website(www.cninfo.com.cn) on 16 January .2017.

                                                                                    Details can be found in the Record Chart of the Investor
March 23,2017           Onsite investigation       Organization
                                                                                    Relation Activity disclosed on Juchao

                                                                                                                                                   8
                                                                                          The Third Quarterly Report 2017


                                                                  website(www.cninfo.com.cn) on 24 March 2017.

                                                                  Details can be found in the Record Chart of the Investor
September 7,2017       Onsite investigation   Organization        Relation Activity disclosed on Juchao
                                                                  website(www.cninfo.com.cn) on 11 September 2017.

                                                                  Details can be found in the Record Chart of the Investor
September 29,2017      Onsite investigation   Organization        Relation Activity disclosed on Juchao
                                                                  website(www.cninfo.com.cn) on 29 September 2017.


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

X.Implementation of the social Responsibility of taking targeted measures to alleviate poverty in light of local
Conditions.

(1)The third Quarter poverty relieving summary

In the report period, the company continues implementing Guangdong scheme of “three-year crucial goals for the
target poverty alleviation” and organizes the manpower, materials and financial resources into the poverty
alleviation. The six subsidiaries carry out the targeted poverty alleviation and oriented assistance work subject to
the formulated poverty alleviation work plan, which include Yuejiang company, Red Bay company, Jinghai
company, Zhenneng company, Zhanjiang company and Dapu company, etc.
(2)Information of the listed company’s in the third Quarter work in targeted poverty alleviation
                                                                 Measurement
                                  Index                                                       Quantity / Status
                                                                 unit

I. General situation                                                    ——                        ——

Thereinto: 1.Capital                                               RMB’0000                                       32.39

             2. Cash supplies                                       RMB’0000                                        3.38

  3. Ecological protection to poverty alleviation                       Person                                        139


(3)Subsequent targeted poverty alleviation program

The company and holding subsidiaries will continue implementing relevant provincial, municipal and town
provisions on the targeted poverty alleviation and find out the accurate ways for the targeted poverty alleviation


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                                                                                        The Third Quarterly Report 2017


based on the local conditions. Firstly, insist the party and style construction, promote the ideological building of
the assistance object village “two committees” members and intensify the results of “two studies and one action”
learning activity. Secondly, insist study and improve capacity, insist the thorough learning on the spirit of Xi
Jinping series important speeches, the spirit of relevant targeted poverty alleviation papers, the village business
knowledge and the way to communicate with the public and improve further the work capacity for people. Thirdly,
intensify the key points and promote the implementation, each poverty alleviation work team will continue
focusing on the targeted poverty alleviation, grasp the poverty alleviation central work and coordinate overall and
implement relevant work. For the poor households poverty alleviation projects and village group projects listed in
the filing and issuing cards, obtain positively support from relevant authority subject to the formulated target tasks,
assist the assistance object villages and poor households in implementing the poverty alleviation projects and
guarantee the overall completion of the poverty alleviation target tasks in the practical style.




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                                                                                       The Third Quarterly Report 2017



                                                IV. Financial Statement
I. Financial statement

1. Consolidated balance sheet

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

                                                   September 30,2017
                                                                                                             In RMB

                     Items                           At the end of term                  Beginning of term

Current asset:

Cash and bank balances                                             5,044,352,779.00                 5,184,873,650.00

             Settlement provision

Outgoing call loan

Financial assets at fair value through profit
or loss

     Derivative financial assets

Notes receivable

 Account receivable                                                3,081,857,781.00                 2,776,061,909.00

Advance payments                                                     910,240,253.00                 1,064,822,122.00

 Insurance receivable

Reinsurance receivable

Provisions of Reinsurance contracts
receivable

  Interest receivable                                                  13,184,201.00                   16,681,118.00

  Dividend receivable

 Other account receivable                                            161,899,777.00                   133,499,956.00

Securities purchased under agreements to
resell

 Inventories                                                       1,600,497,054.00                 1,513,153,241.00

Held-for-sale assets

Current portion of non-current assets                                  58,322,683.00

  Other current asset                                                908,304,228.00                   882,055,591.00

Total of current assets                                           11,778,658,756.00                11,571,147,587.00

Non-current assets:

Loans and advances




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                                                                  The Third Quarterly Report 2017


Available-for-sale financial assets            1,280,173,896.00                1,279,387,994.00

Held-to-maturity investments

 Long-term receivable                            82,259,912.00                   136,075,412.00

 Long term share equity investment             5,717,918,665.00                5,432,637,750.00

 Property investment                               8,455,538.00                    8,932,237.00

  Fixed assets                                39,823,939,594.00               41,814,685,521.00

  Construction in progress                     9,266,805,586.00                6,343,293,763.00

Engineering material                               1,520,740.00                    1,496,854.00

Fixed assets pending for disposal                  7,317,945.00                    4,304,229.00

Productive biological assets

 Gas & petrol

 Intangible assets                             1,671,805,085.00                1,707,490,221.00

Research and Development Expenditures               494,017.00

 Goodwill                                        27,486,780.00                    27,486,780.00

Long-term prepaid expenses                       28,638,368.00                    34,611,712.00

Deferred income tax                             378,337,007.00                   303,929,269.00

 Other non-current asset                        907,817,344.00                 2,011,524,431.00

Total of non-current assets                   59,202,970,477.00               59,105,856,173.00

Total of assets                               70,981,629,233.00               70,677,003,760.00

Current liabilities

Short-term bank loan facilities                8,552,000,000.00                5,758,860,000.00

Borrowings from central bank

Deposits and placements from other
financial institutions

Placement from banks and other financial
institution

Financial liabilities at fair value through
profit and loss

     Derivative financial liabilities

Notes payable                                   519,220,263.00                 1,330,480,837.00

  Account payable                              2,298,276,196.00                3,167,250,446.00

Advances from customers                             393,549.00                    12,456,360.00

Securities sold under agreement to
repurchase

Fees and commissions payable



                                                                                              12
                                                                 The Third Quarterly Report 2017


Payroll payable                                251,696,877.00                   144,122,128.00

Taxes and surcharges payable                   535,967,608.00                   326,919,844.00

 Interest payable                              149,256,385.00                    83,648,793.00

 Dividend payable                                 9,703,930.00                    9,703,930.00

  Other payable                               3,916,870,664.00                3,292,556,995.00

Reinsurance amounts payable

Provision of insurance contract

Securities brokering

Securities underwriting

Held-for-sale liabilities

Current portion of non-current liabilities    1,981,452,795.00                1,433,644,523.00

Other current liability                         93,624,959.00                 1,723,070,000.00

Total of current liability                   18,308,463,226.00               17,282,713,856.00

Non-current liabilities:

Long-term bank loan facilities               19,077,122,178.00               19,888,172,037.00

 Bond payable                                 1,895,369,522.00                1,900,124,468.00

  Including:preferred stock

Perpetual capital securities

  Long-term payable                           1,709,101,060.00                1,917,552,654.00

Long-term employee benefits payable            131,681,391.00                   122,832,249.00

Grants payable                                  26,675,385.00                    26,675,385.00

Provisions

     Deferred income                           144,925,304.00                   125,650,072.00

Deferred tax liabilities                        24,627,476.00                    37,718,277.00

Other non-current liabilities                                                    39,000,000.00

Total non-current liabilities                23,009,502,316.00               24,057,725,142.00

Total of liability                           41,317,965,542.00               41,340,438,998.00

Equity

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

      Other equity instrument

  Including:preferred stock

Perpetual capital securities

Reserves                                      5,003,049,916.00                5,003,007,478.00

Less: treasury shares



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                                                                                                  The Third Quarterly Report 2017


Other comprehensive income                                                145,648,442.00                         145,059,015.00

Specialized reserve

  Surplus reserves                                                       7,590,363,724.00                      6,845,001,818.00

General risk reserve

Retained earnings                                                        5,752,172,385.00                      6,135,494,928.00

Equity contributable to parent company                                 23,741,518,453.00                      23,378,847,225.00

Minority interests                                                       5,922,145,238.00                      5,957,717,537.00

Total equity                                                           29,663,663,691.00                      29,336,564,762.00

Total liabilities and equity                                           70,981,629,233.00                      70,677,003,760.00


Legal Representative: Huang Zhenhai        Person in charge of accounting:Liu Wei       Accounting Dept Leader: Meng Fei


2.Parent Company Balance Sheet

                                                                                                                           In RMB

                      Items                                 Year-end balance                      Year-beginning balance

Current asset:

Cash and bank balances                                                    498,692,698.00                         326,073,538.00

Financial assets at fair value through profit
or loss

Derivative financial assets

Notes receivable

 Account receivable                                                       219,526,419.00                         212,343,198.00

Advance payments                                                            56,799,400.00                         79,990,745.00

  Interest receivable                                                          1,921,258.00                          723,819.00

  Dividend receivable

Other receivable                                                            67,433,901.00                        122,933,749.00

  Inventories                                                             127,633,521.00                         149,462,926.00

Held-for-sale assets

Current portion of non-current assets

Other current asset                                                                                               25,650,427.00

Total of current assets                                                   972,007,197.00                         917,178,402.00

Non-current assets:

Available-for-sale financial assets                                      1,280,173,896.00                      1,279,387,994.00

Held-to-maturity investments

 Long-term receivable                                                     351,460,000.00                         335,000,000.00


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                                                                  The Third Quarterly Report 2017


 Long term share equity investment            23,754,105,607.00               22,896,735,913.00

 Property investment                               8,455,538.00                    8,932,237.00

  Fixed assets                                  969,828,512.00                 1,049,906,014.00

  Construction in progress                      126,531,759.00                    43,039,781.00

Engineering material

Fixed assets pending for disposal                   850,936.00

Productive biological assets

 Gas & petrol

Intangible assets                                89,312,251.00                    92,152,556.00

Research and Development Expenditures

 Goodwill

Long-term prepaid expenses

Deferred income tax                               14,591,711.00

 Other non-current asset                        356,004,000.00                   672,504,000.00

Total of non-current assets                   26,951,314,210.00               26,377,658,495.00

Total of assets                               27,923,321,407.00               27,294,836,897.00

Current liabilities

Short-term bank loan facilities                1,600,000,000.00                  300,000,000.00

Financial liabilities at fair value through
profit and loss
  Derivative financial liabilities

Notes payable

  Account payable                               176,712,392.00                   517,973,144.00

Advances from customers

Payroll payable                                  51,379,012.00                    31,813,417.00

 Tax payable                                       3,995,417.00                    9,688,606.00

 Interest payable                                45,419,314.00                    48,091,022.00

 Dividend payable                                  9,703,930.00                    9,703,930.00

  Other payable                                  98,047,412.00                    93,522,121.00

Held-for-sale liabilities

Current portion of non-current liabilities

Other current liability                          31,895,698.00                 1,216,583,014.00

Total of current liability                     2,017,153,175.00                2,227,375,254.00

Non-current liabilities:




                                                                                              15
                                                                                  The Third Quarterly Report 2017


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

 Bond payable                                              1,197,697,262.00                     1,196,982,619.00

Including:preferred stock

Perpetual capital securities

  Long-term payable

  Long-term employee benefits payable                            21,443,185.00                     23,445,887.00

     Grants payable

Provisions

Deferred income                                                  58,818,228.00                     59,533,388.00

Deferred income tax                                                                                12,508,093.00

  Other non-current liabilities

Total of Non-current liabilities                           2,777,958,675.00                     2,792,469,987.00

Total of liability                                         4,795,111,850.00                     5,019,845,241.00

Equity

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

Other equity instrument

Including:preferred stock

Perpetual capital securities

Reserves                                                   5,605,794,603.00                     5,605,752,163.00

Less: treasury shares

Other comprehensive income                                      145,648,442.00                    145,059,015.00

Specialized reserve

Surplus reserves                                           7,590,363,724.00                     6,845,001,818.00

Retained earnings                                          4,536,118,802.00                     4,428,894,674.00

Total equity                                              23,128,209,557.00                    22,274,991,656.00

负债和所有者权益总计                                      27,923,321,407.00                    27,294,836,897.00


3.Consolidated Income statement of the Report period



                                                                                                         In RMB

                     Items              Amount in this period                    Amount in last period

I. Revenue                                             7,546,970,420.00                         6,207,318,559.00

Including: business revenue                            7,546,970,420.00                         6,207,318,559.00

Interest income



                                                                                                              16
                                                             The Third Quarterly Report 2017


Premiums earned

Fees and commissions income

II. Total operating cost                  6,583,694,398.00                5,171,188,129.00

Including: Cost of sales                  6,050,271,305.00                4,594,220,998.00

Interest expense

Fees and commissions expense

Cash surrender amount

Net expenses of claim settlement

  Net provisions for insurance contract
reserves

Policy dividend expenses

Reinsurance expenses

Business taxes and surcharges               59,774,483.00                    51,461,297.00

  Selling expenses                           1,832,975.00                       567,104.00

Administrative expense                     147,840,859.00                   176,112,019.00

Financial expenses                         323,974,776.00                   349,955,971.00

     Impairment loss on assets                                               -1,129,260.00

Add: Gain from fair-value
changes(“-“for loss)

Investment income(“-“for loss)           155,756,905.00                   190,223,865.00

Including: investment income from
                                           126,561,462.00
associates and joint ventures

Gain on foreign exchange(“-“for loss)

        Other income                        12,130,066.00

III. Operating profit(“-”for loss)    1,131,162,993.00                1,226,354,295.00

Add:Non-operating income                      1,008,118.00                      954,763.00

Including:Gains from disposal of
                                                42,151.00                      -130,677.00
non-current assets

     Less:Non business expenses             2,226,834.00                     7,070,375.00

        Incl:Loss from disposal of
                                             1,261,954.00
non-current assets

IV. Profit before tax(“-“for loss)      1,129,944,277.00                1,220,238,683.00

Less: Income tax expense                   234,077,484.00                   272,941,293.00

V. Net profit (“-“for net loss)          895,866,793.00                   947,297,390.00




                                                                                         17
                                                              The Third Quarterly Report 2017


Net profit attributable to the owners of
                                             653,326,357.00                  738,187,983.00
parent company

Minority interests                           242,540,436.00                  209,109,407.00

VI. Other comprehensive income after
                                             -16,334,224.00                    3,661,960.00
tax

Net of profit of other comprehensive
income attributable to owners of the         -16,334,224.00                    3,661,960.00
parent company

(I)Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent
accounting period

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       -16,334,224.00                    3,661,960.00
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
                                             -16,334,224.00                    3,661,960.00
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

Net
after-tax of other comprehensive incom
e attributable to Minority shareholders’
equity

VII. Total comprehensive income              879,532,569.00                  950,959,350.00

Total comprehensive income                   636,992,133.00                  741,849,943.00


                                                                                          18
                                                                                                  The Third Quarterly Report 2017


attributable to the owner of the parent
company

 Total comprehensive income
                                                                     242,540,436.00                               209,109,407.00
attributable minority shareholders

VIII. Earnings per share

(I)Basic earnings per share                                                    0.124                                         0.14

 (II)Diluted earnings per share                                                  0.124                                         0.14


Legal Representative: Huang Zhenhai       Person in charge of accounting:Li u Wei       Accounting Dept Leader: Meng Fei


4.Income statement of the Parent Company of the Report period

                                                                                                                            In RMB

                   Items                            Amount in this period                        Amount in last period

I.Revenue                                                            583,577,531.00                               622,332,773.00

  Less:Business cost                                                547,228,007.00                               460,750,721.00

Business tax and surcharge                                                  933,096.00                              4,652,331.00

  Selling expenses                                                            2,144.00

 Administrative expense                                                19,815,701.00                               22,267,139.00

    Financial expenses                                                 49,624,132.00                               51,406,097.00

    Impairment loss on assets

Add: Gain from fair-value
changes(“-“for loss)

Investment income(“-“for loss)                                     260,702,725.00                               284,325,421.00

Including: investment income from
                                                                     126,394,835.00
associates and joint ventures

          Other income
II. Operational profit(“-”for loss)                              226,677,176.00                               367,581,906.00

Add:Non-operating income                                                     97,702.00                                   101,775.00

Including:Gains from disposal of
non-current assets

Less:Non-operating expenses                                                  58,863.00                                   173,158.00

Incl:Loss from disposal of non-current
assets

III. Profit before tax(“-“for loss)                                226,716,015.00                               367,510,523.00

Less: Income tax expense                                               -7,961,095.00                               17,221,265.00

IV. Net profit (“-“for net loss)                                   234,677,110.00                               350,289,258.00



                                                                                                                                 19
                                                                                   The Third Quarterly Report 2017


V.Net of profit of other comprehensive i
                                                                 -16,334,224.00                      3,661,960.00
ncome

     (I)Other comprehensive income
items that will not be reclassified into
gains/losses in the subsequent
accounting period

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                           -16,334,224.00                      3,661,960.00
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
                                                                 -16,334,224.00                      3,661,960.00
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                                   218,342,886.00                    353,951,218.00

VII. Earnings per share:

(I)Basic earnings per share

 (II)Diluted earnings per share


5. Consolidated income statement between the beginning of the year and end of the report period


                                                                                               In RMB

                    Items                       Amount in this period             Amount in last period

I.Revenue                                                     19,932,456,997.00                 16,442,308,125.00

Including:Operating income                                   19,932,456,997.00                 16,442,308,125.00



                                                                                                               20
                                                               The Third Quarterly Report 2017


         Interest income

          Insurance gained

Commission charge and commission
income

II. Total operating cost                   18,745,298,401.00               14,066,645,693.00

Including:Operating cost                  17,176,961,296.00               12,362,131,227.00

Interest expense

Commission chare and commission
expense

Insurance discharge payment

               Net claim amount paid

Insurance policy dividend paid

Insurance policy dividend paid

  Reinsurance expenses

Business tax and surcharge                   168,293,141.00                   127,569,340.00

  Selling expenses                              4,621,433.00                    1,303,572.00

Administrative expense                       433,804,185.00                   524,842,412.00

Financial expenses                           961,618,346.00                 1,051,928,402.00

Asset impairment loss                                                          -1,129,260.00

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

Investment gain(“-”for loss)             383,299,815.00                   318,945,399.00

Incl: investment gains from affiliates       351,620,908.00

Gains from currency exchange(“-”for
loss)

              Other income                    19,480,274.00

III. Operational profit(“-”for loss)    1,589,938,685.00                2,694,607,831.00

Add:Non-business income                        4,211,130.00                   11,564,474.00

Incl:Gains from disposal of non-current
                                                1,310,373.00
assets

     Less:Non business expenses              35,800,906.00                    21,238,175.00

Incl:Loss from disposal of non-current
                                                1,917,584.00
assets

IV.Total     profit(“-”for loss)          1,558,348,909.00                2,684,934,130.00



                                                                                           21
                                                                     The Third Quarterly Report 2017


 Less:Income tax expenses                         382,769,307.00                   688,423,363.00

V. Net profit(“-”for net loss)                1,175,579,602.00                1,996,510,767.00

Net profit attributable to the owners of
                                                   782,062,082.00                 1,476,562,767.00
parent company

  Minority shareholders’ equity                   393,517,520.00                   519,948,000.00

VI. Net after-tax of Other
                                                       589,427.00                  -104,286,232.00
comprehensive income

Net                                   after-tax
of other comprehensive income attribut                 589,427.00                  -104,286,232.00
able to owners of the parent company.

(I)Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent
accounting period

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                 589,427.00                  -104,286,232.00
e reclassified into profit or loss.

1.Other comprehensive income under th
e equity method investee can be reclassi                                                970,838.00
fied into profit or loss.

2.Gains and losses from changes in fair
                                                       589,427.00                  -105,257,070.00
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

Net

after-tax of other comprehensive incom
e attributable to Minority shareholders’



                                                                                                 22
                                                                                 The Third Quarterly Report 2017


equity

VII. Total comprehensive income                           1,176,169,029.00                     1,892,224,535.00

Total comprehensive income
attributable to the owner of the parent                     782,651,509.00                     1,372,276,535.00
company

 Total comprehensive income
                                                            393,517,520.00                       519,948,000.00
attributable minority shareholders

VIII. Earnings per share

(I)Basic earnings per share                                           0.149                                0.281

 (II)Diluted earnings per share                                         0.149                                0.281


6.Income Statement of the Parent Between the Beginning of the Year and End of the Report Period

                                                                                                           In RMB

                    Items                  Amount in this period                Amount in last period

I.Revenue                                                 1,523,342,833.00                     1,448,006,883.00

Less:Business cost                                       1,434,354,346.00                     1,091,118,775.00

Business tax and surcharge                                    5,275,897.00                        12,646,846.00

  Selling expenses                                                   6,733.00                             9,300.00

Administrative expense                                       61,793,420.00                        77,549,050.00

Financial expenses                                          147,728,499.00                       163,432,962.00

Asset impairment loss

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

Investment gain(“-”for loss)                          1,371,179,896.00                     2,137,470,736.00

Incl: investment gains from affiliates                      347,799,688.00

         Other income                                         1,576,903.00

II. Operational profit                                    1,246,940,737.00                     2,240,720,686.00

Add:Non-business income                                           378,555.00                      1,897,148.00

Incl:Gains from disposal of non-current
assets
Less:Non business expenses                                        254,204.00                           531,243.00

Incl:Loss from disposal of non-current
assets

III.Total profit                                          1,247,065,088.00                     2,242,086,591.00

Less:Income tax expenses                                   -25,543,667.00                        35,569,606.00

IV. Net profit                                            1,272,608,755.00                     2,206,516,985.00


                                                                                                                23
                                                                                   The Third Quarterly Report 2017


V. Net after-tax of Other comprehensive
                                                                     589,427.00                   -104,286,232.00
 income

(I)Other comprehensive income items
that will not be reclassified into
gains/losses     in     the     subsequent
accounting period

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                               589,427.00                   -104,286,232.00
e reclassified into profit or loss.

1.Other comprehensive income under th
e equity method investee can be reclassi                                                                  970,838.00
fied into profit or loss.

2.Gains and losses from changes in fair
                                                                     589,427.00                   -105,257,070.00
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                               1,273,198,182.00                     2,102,230,753.00

VII.Earnings per share

(I)Basic earnings per share

(II)Diluted earnings per share


7. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period

                                                                                                             In RMB

                    Items                    Amount in this period                Amount in last period

I.Cash flows from operating activities

Cash received from sales of goods or
                                                           22,976,823,367.00                    19,580,053,140.00
rending of services


                                                                                                                  24
                                                                The Third Quarterly Report 2017


  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 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                                11,672,868.00                    2,298,081.00

Other cash received from business
                                              202,228,573.00                   192,906,314.00
operation

    Sub-total of cash inflow                23,190,724,808.00               19,775,257,535.00

Cash paid for purchasing of
                                            17,164,125,211.00                8,179,839,824.00
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       1,032,922,764.00                1,124,600,927.00

 Taxes paid                                  1,209,506,908.00                2,085,277,353.00

Other cash paid for business activities       415,754,180.00                   335,520,946.00

Sub-total of cash outflow from business
                                            19,822,309,063.00               11,725,239,050.00
  activities



                                                                                            25
                                                                 The Third Quarterly Report 2017


Cash flow generated by business
                                              3,368,415,745.00                8,050,018,485.00
operation, net

II.Cash flow generated by investing

Cash received from investment
retrieving

Cash received as investment gains              255,018,900.00                   512,343,277.00

Net cash retrieved from disposal of
fixed assets, intangible assets, and other         823,706.00                     1,578,434.00
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
                                               255,842,606.00                   513,921,711.00
investment activities

Cash paid for construction of fixed
     assets, intangible assets and other      2,324,097,964.00                2,311,505,369.00
     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
                                              2,324,097,964.00                2,311,505,369.00
investment activities

Net cash flow generated by investment        -2,068,255,358.00               -1,797,583,658.00

III.Cash flow generated by financing

Cash received as investment                     10,500,000.00                    91,950,000.00

Incl: Cash received as investment from
                                                10,500,000.00                   141,950,000.00
minor shareholders

Cash received as loans                       10,533,346,894.00               10,077,351,398.00

Cash received from bond placing

Other financing –related ash received            1,242,623.00

Sub-total of cash inflow from financing
                                             10,545,089,517.00               10,169,301,398.00
activities

Cash to repay debts                           9,878,680,784.00               11,862,353,840.00

Cash paid as dividend, profit, or             2,098,080,828.00                3,352,287,872.00



                                                                                             26
                                                                              The Third Quarterly Report 2017


interests

Incl: Dividend and profit paid by
                                                            472,589,820.00                    920,168,209.00
subsidiaries to minor shareholders

Other cash paid for financing activities                      9,009,163.00

Sub-total of cash outflow due to
                                                         11,985,770,775.00                 15,214,641,712.00
financing activities

Net cash flow generated by financing                     -1,440,681,258.00                 -5,045,340,314.00

IV. Influence of exchange rate
alternation on cash and cash equivalents

V.Net increase of cash and cash
                                                           -140,520,871.00                  1,207,094,513.00
equivalents

Add: balance of cash and cash
                                                          5,184,873,650.00                  5,227,406,725.00
equivalents at the beginning of term

VI ..Balance of cash and cash
                                                          5,044,352,779.00                  6,434,501,238.00
equivalents at the end of term


8. Cash Flow Statement of the Parent Between the Beginning of the Year and End of the Report Period

                                                                                                     In RMB

                  Items                    Amount in this period             Amount in last period

I.Cash flows from operating activities

Cash received from sales of goods or
                                                          1,766,454,046.00                  1,602,241,681.00
rending of services

Tax returned                                                  1,329,204.00

Other cash received from business
                                                             25,365,346.00                     21,065,583.00
operation

Sub-total of cash inflow                                  1,793,148,596.00                  1,623,307,264.00

Cash paid for purchasing of
                                                          1,652,102,571.00                    816,458,488.00
merchandise and services

Cash paid to staffs or paid for staffs                      217,820,826.00                    228,836,275.00

Taxes paid                                                   17,443,904.00                    157,580,734.00

Other cash paid for business activities                      31,083,652.00                     32,094,089.00

Sub-total of cash outflow from business
                                                          1,918,450,953.00                  1,234,969,586.00
  activities

Cash flow generated by business
                                                           -125,302,357.00                    388,337,678.00
operation, net

II.Cash flow generated by investing

Cash received from investment                               100,000,000.00                    300,000,000.00


                                                                                                          27
                                                                The Third Quarterly Report 2017


retrieving

Cash received as investment gains            1,240,906,577.00                2,351,701,691.00

Net cash retrieved from disposal of
fixed assets, intangible assets, and other         63,862.00
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
                                             1,340,970,439.00                2,651,701,691.00
investment activities

Cash paid for construction of fixed
     assets, intangible assets                 84,280,578.00                    71,825,283.00
and other long-term assets

     Cash paid as investment                  470,489,932.00                   795,583,889.00

Net cash received from subsidiaries and
other operational units

Other cash paid for investment
activities

Sub-total of cash outflow due to
                                              554,770,510.00                   867,409,172.00
investment activities

Net cash flow generated by investment         786,199,929.00                 1,784,292,519.00

III.Cash flow generated by financing

  Cash received as investment

     Cash received as loans                  1,901,037,089.00                2,197,650,000.00

 Cash received from bond placing

Other financing –related ash received          1,242,623.00

 Sub-total of cash inflow from
                                             1,902,279,712.00                2,197,650,000.00
financing activities

  Cash to repay debts                        1,800,000,000.00                2,700,000,000.00

Cash paid as dividend, profit, or
                                              589,055,631.00                 1,381,502,255.00
interests

Other cash paid for financing activities        1,502,493.00

 Sub-total of cash outflow due to
                                             2,390,558,124.00                4,081,502,255.00
financing activities

Net cash flow generated by financing         -488,278,412.00                -1,883,852,255.00

IV. Influence of exchange rate
alternation on cash and cash equivalents



                                                                                            28
                                                        The Third Quarterly Report 2017


V.Net increase of cash and cash
                                       172,619,160.00                  288,777,942.00
equivalents

Add: balance of cash and cash
                                       326,073,538.00                  682,950,639.00
equivalents at the beginning of term

VI ..Balance of cash and cash
                                       498,692,698.00                  971,728,581.00
equivalents at the end of term

II. Auditor‘s report
Whether the Q3 report is audited
□ Yes √ No
The Q3 Report is not audited.




                                                                                    29