Quarterly Report for the Third Quarter of 2009
Guangdong Provincial Expressway Development Co.，Ltd.
Quarterly Report for the Third Quarter of 2009
§1 Important Notes
1.1 The Board of Directors and the directors of the Company hereby warrant that there are no misstatement, misleading representation or important omissions in this report and shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof.
1.2 The Third quarterly financial report of the Company is not audited .
1.3 Chairman of the Board of Directors Zhou Yuming, Director General Manager Li Xiyuan ，Director Deputy General Manager and General accountant Xiao Liaijiu hereby confirmed that the Financial Report enclosed in the Quarterly is true and complete.
§2 Basic Information
2.1 Highlights of Accounting Data and Financial Indicators
Unit：RMB
2009.9.30
2008.12.31
Increase /decrease（％）
Total assets（RMB）
9,411,265,244.28
7,299,537,500.43
28.93%
Owner’s equity attributable to shareholders of the listed company （RMB）
3,600,964,695.18
3,421,104,860.21
5.26%
Stock capital（shares）
1,257,117,748.00
1,257,117,748.00
0.00%
Net assets per share attributable to shareholders of the listed company （yuan/shares）
2.86
2.72
5.15%
July-September 2009
Increase/decrease in the report period compared with the same period of the last year(%)
January-September 2009
Increase/decrease in the report period compared with the same period of the last year(%)
Total turnover(RMB)
222,209,919.85
-5.43%
694,026,669.60
-4.65%
Net profit attributable to shareholders of the listed company（RMB）
89,656,938.50
-16.90%
305,571,609.77
-14.91%
Net cash flow arising from operating activities（RMB）
-
-
393,638,272.25
-3.72%
Net cash flow per share arising from operating activities（yuan/shares）
-
-
0.31
-3.72%
Basic earnings per share（yuan/shares）
0.07
-22.22%
0.24
-17.24%
Diluted earnings per share（yuan/shares）
0.07
-22.22%
0.24
-17.24%
Return on net assets（%）
2.49%
Decreased 0.70%
8.49%
Decreased 2.13
Return on net assets after deducting
2.48%
Decreased 0.72%
8.40%
Decreased 2.55%
1Quarterly Report for the Third Quarter of 2009
non-recurring gains and losses（%）
Unit：RMB
Items of non-current gains and losses
Year begin to end of report period
Notes
Gains and losses from the disposal of non-current assets
6,707,247.77
Asset impairment provisions for force majeur such as natural disasters
-4,167,209.53
Other non-business income and expenses besides the above items
784,752.24
Amount of influence of the above items on income tax.
-157,220.13
Total
3,167,570.35
-
2.2 Total number of shareholders in the end of the report period and shares held by the top ten shareholders with unrestricted conditions
Unit：Shares
Total number of shareholders at the end of report period
109,996
Share held by the top ten shareholders with unrestricted conditions
Name of the shareholder
Number of Unconditional shares held at the period-end
Type of shares
Guangdong Communication Group Co., Ltd.
103,379,742
RMB common shares
Xinyue Co., Ltd.
13,201,086
Foreign shares placed in domestic exchange
Guangdong Yuecai Trust Investment Co., Ltd.
12,174,345
RMB common shares
Guo Xian
3,822,388
Foreign shares placed in domestic exchange
China Construction Bank－Guotai Jinding Valuechosen mixed Securities Investment Fund
4,383,817
RMB common shares
Lu Weiqiang
2,888,848
Foreign shares placed in domestic exchange
LSV EMERGING MARKETS EQUITY FUND,L.P.
2,686,000
Foreign shares placed in domestic exchange
Hu Airong
2,741,914
RMB common shares
KGI ASIA LIMITED
2,065,517
Foreign shares placed in domestic exchange
Hong Qingyi
1,876,215
Foreign shares placed in domestic exchange
Bond holding by top 10 corporate bond holders at the end of the report period(As of September 30, 2009)
No.
Holder
Number
1
China Ping An Property Insurance Co., Ltd.--Traditional--Ordinary insurance products
1,599,980
2
China People's Life Insurance Co., Ltd. -- Dividend distribution - Dividend distribution for individual insurance
1,000,000
3
Sunshine Life Insurance Co., Ltd. -- Insurance products for dividend distribution
800,000
4
Zhongyi Life Insurance Co., Ltd.
750,000
5
China Ping An Property Insurance Co., Ltd.—Dividend Distribution-Dividend distribution for individual insurance
600,000
6
China Ping An Life Insurance Co., Ltd.--Universal--Universal individual insurance
600,000
2Quarterly Report for the Third Quarter of 2009
7
China Ping An Life Insurance Co., Ltd.--Investment-linked--Money management and value increase
400,000
8
China Post Office Saving Bank Co., Ltd.
400,000
9
Xincheng Life Insurance Co., Ltd.-- Traditional--Ordinary insurance products
350,000
10
Xincheng Life Insurance Co., Ltd.-- Dividend Distribution-Dividend distribution for individual insurance
250,000
§3 Significant Events
3.1 Particular about large-margin change of main accounting statement item and financial index and its reason.
√ applicable □ not applicable
1. Monetary capital
Ending balance of monetary capital was RMB 1091.54 million, which is composed of the following items: Year-beginning balance of monetary capital was RMB 350.77 million. The net cash flows from operating activities for this report period were RMB 393.64 million. Net cash flows from investing activities were RMB - 1046.08 million. Net cash flows from financing activities were RMB 1393.21 million.
2. Accounts receivable
Accounts receivable increased by RMB 18.48 million and 146.00% over the beginning of the year due to increase of toll income receivable from United Electronic Toll Center by Guangfo Expressway Co., Ltd. and Guangdong Fokai Expressway Co., Ltd.
3. Other receivables
Other receivables increased by RMB 24.51 million and 86.55% over the beginning of the year mainly due to increase of security deposit by Guangfo Expressway Co., Ltd. and Guangdong Fokai Expressway Co., Ltd. and borrowing of cash advance by toll collectors of each station and relevant employees of the Company.
4. Prepayments
Prepayments increased by RMB 248.95 million and 292.58% over the beginning of the year mainly due to prepayment for expansion project of Guangfo Expressway and Fokai Expressway and materials by Guangfo Expressway Co., Ltd. and Guangdong Fokai Expressway Co., Ltd.
5. Dividends receivable
Dividends receivable increased by RMB 17.55 million and 117.25% over the beginning of the year. The balance for current period is RMB 32.52 million, the dividends for 2008 receivable by the parent company from Jingzhu Expressway Guangzhu Section Co., Ltd.
6. Long-term equity investment
Long-term equity investment increased by RMB 498.37 million and 22.69% over the beginning of the year mainly for the following reasons: (1) The income of investment in joint stock subsidiaries in current period increased long-term equity investment by RMB 197.16 million. The total cost of investment in Jiangzhong Expressway Co., Ltd. and Ganzhou Gankang Expressway Co., Ltd. increased by RMB 34.50 million and RMB 528.00 million was invested in Everbright Bank(2) Jingzhu Expressway Guangzhu Section Co., Ltd., Guanghui Expressway Co., Ltd. and Shenzhen Huiyan Expressway Co., Ltd. respectively announced distribution of dividends of RMB 110.52 million, RMB 80 million and RMB 70 million, which decreased long-term equity investment by RMB 260.52 million. 3Quarterly Report for the Third Quarter of 2009
7. Construction in progress
Construction in progress increased by RMB 421.25 million and 38.90% over the beginning of the year mainly for the following reasons: (1) The cost of Guangfo Expressway and Fokai Expressway increased by RMB 529 million; (2) Jiujiang Bridge was transferred from construction in progress to fixed asset in current period, which reduced construction in progress.
8. Short-term loan
Short-term loan increased by RMB 194 million and 64.67% over the beginning of the year due to increase of short-term loan of the parent company and Guangfo Expressway Co., Ltd. respectively by RMB 50 million and RMB 150 million and repayment of short-term loan of RMB 6 million by Guangdong Fokai Expressway Co., Ltd.
9. Accounts payable
Accounts payable increased by RMB 166.73 million and 155.67% over the beginning of the year mainly for the following reasons: (1) Accounts payable increased for the rehabilitation works of Jiujiang Bridge; (2) The accounts payable for expansion projects of Guangdong Fokai Expressway Co., Ltd. and Guangfo Expressway Co., Ltd. increased.
10. Long-term loan
Long-term loan increased by RMB 599.63 million and 25.53% over the beginning of the year due to net increase of long-term loan of Guangdong Fokai Expressway Co., Ltd. by RMB 519.63 million and increase of long-term loan of Guangfo Expressway Co., Ltd. by RMB 80 million.
11. Bonds payable
Bonds payable increased by RMB 788.86 million over the beginning of the year, which is the ending balance of corporate bonds issued by the parent company in current period.
(II) Items of profit statement as compared with the same period of the previous year
1. Operating income
Operating income decreased by RMB 33.87 million and 4.65% year on year mainly for the following reasons: (1) The toll income of Guangfo Expressway Co., Ltd. decreased by RMB 45.15 million mainly due to traffic jam caused by the expansion of Guangfo and Fokai Expressway and reconstruction of Beihuan high-speed circuit, vehicle shunting caused by improvement of neighboring road network and opening of "green channel". (2) Toll income of Guangdong Fokai Expressway Co., Ltd. increased by RMB 11.28 million.
2. Operating cost
Operating cost increased by RMB 21.27 million and 8.16% year on year mainly for the following reasons: (1) The operating cost of Guangdong Fokai Expressway Co., Ltd. increased by RMB 22.54 million year on year mainly due to year-on-year increase of special cost by RMB 11.19 million and year-on-year increase of road asset depreciation by RMB 9.68 million in current period. (2) The operating cost of Guangfo Expressway Co., Ltd. decreased by RMB 1.96 million year on year, which was basically on the same level with that in the same period of the previous year. (3) The operating cost of Guangdong Express Technology Investment Co., Ltd. increased by RMB 0.69 million year on year, which did not change much.
3. Investment income
Investment income decreased by RMB 14.86 million and 6.78% year on year mainly due to increase of loss of investment in Ganzhou Kangda Expressway Co., Ltd. in current period (Loss for five months was borne in the same period of previous year). 4Quarterly Report for the Third Quarter of 2009
3.2 The progress of significant events and influence, as well as the analysis and explanation on resolving proposal.
√ applicable □ not applicable
1. Guangdong Communication Group Co., Ltd., the controlling shareholder of the Company, and Xinyue Co., Ltd., a person taking concerted action purchased some A shares and B shares of the Company through securities trading system of Shenzhen Stock Exchange on December 11, 2008 and planned to continue to purchase A shares and B shares of the Company through the securities trading system of Shenzhen Stock Exchange within next 12 months. The total quantity of the shares to be purchased will not exceed 2% of the total share capital of the Company. As of the end of the report period, Guangdong Communication Group Co., Ltd. accumulatively purchased 1,207,859 A shares through secondary market and Xinyue Company purchased accumulatively 10,382,999 B shares through secondary market.
This purchase plan is still in progress.
2. Approved by Zhen Jian Xu Ke (2009) No. 849 Document issued by China Securities Regulatory Commission, the Company issued corporate bonds of RMB 800 million to the whole market (including individual investors) from September 21 to September 23, 2009. The face interest rate of bonds is 5.1%. The bonds were listed at Shenzhen Stock Exchange on October 16, 2009. Stock code: 112009; Stock abbreviation: 09 Guangdong Expressway Bond. Refer to relevant announcements of the Company published on Securities Times and www.cninfo.com.cn in the period from September 17 to October 16, 2009 for the details of this issue and listing of corporate bonds.
3. The Company signed Share Subscription Agreement with Everbright Bank on July 20, 2009. The Company will subscribe for 240,000,000 ordinary shares to be issued by this bank to the Company at the price of RMB 2.2 per share. The par value of each share is RMB 1.00 and the total amount of investment is RMB 528,000,000. This transaction has been examined and adopted by the board of directors and shareholders' general meeting of the Company and the board of directors and shareholders' general meeting of Everbright Bank and approved by relevant domestic regulatory authority. Equity transfer was completed on August 28, 2009.
4. To better develop Zhaoqing's economy, Zhaoqing's government planned to construct Zhaoqing's highway network and urban roads. As the old road asset of No. 321 National Highway owned by Zhaoqing Yuezhao Highway Co., Ltd. (hereinafter referred to as "Yuezhao Company"), a subsidiary of the Company, is in the scope of planned construction of Zhaoqing's government, Zhaoqing's government planned to repurchase the old road asset of No. 321 National Highway and remove Dachong toll station on No. 321 National Highway. Yuezhao Company entrusted Guangdong Yangcheng Assets Appraisal Company to appraise the asset of No. 321 National Highway and toll interests. The appraised value was RMB 512 million. Yuezhao Company and Zhaoqing Highway Bureau entered into an assignment agreement. The assignment price is RMB 518.10 million. Relevant procedure has been settled in July. Yuezhao Company has received full payment of assignment price and assets have been delivered. This assignment does not greatly influence the operating status of the Company.
3.3 The fulfillment of the commitment made by the Company , shareholders and the actual controller
√ applicable □ not applicable
Items
Commitment
Status of fulfillment of commitment
Promise in share holding structure reform
No
No
Commitment of Share conditional
No
No
5Quarterly Report for the Third Quarter of 2009
subscription
Commitments made in Acquisition Report or Reports on Change in interests
No
No
Commitments made in Material assets Reorganization
No
No
Commitments made in issuing
No
No
Other commitments（Including: supplementary commitments）
Guangdong Communication Group Co.,Ltd. as a controlling shareholder of the Company and Xinyue Company Limited as its person acting in concert increased part of A stocks and B stocks of the Company by Stock Trading System of Shenzhen Stock Exchange on December 11, 2008, and promised that they would not reduce their stocks of the Company during the execution of the plan of stock increase and within the legal time limit.
Up to the publishing date of this report, Guangdong Provincial Transport Group Co., Ltd. and Xinyue Company Limited as its person acting in concert have not reduced their stocks of the Company. Therefore, this promise is still being performed.
3.4 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
3.5 Other significant events need to be explained
1.In the report period, the Company neither provided funds to the controlling shareholder or its related parties nor provided guarantee in violation of stipulated procedure.
2.In the report period, no relevant party made compensation for the earnings promised for the Company's implementation of share holding structure reform and significant asset reorganization.
3.In the report period, the Company did not invest in securities.
4. In the report period, the Company did not sign any significant contract.
3.5.1 Reception of investigations, communications ,or interviews company held in the report period.
Reception date
Reception plane
Reception Mode
Reception Object
Discussion issue and offered information
July 24, 2009
The Company
Sport investigation
Analyst of Guangfa Securities Co., Ltd.
August 13, 2009
The Company
Sport investigation
Analyst of East Securities Co., Ltd.
August 20, 2009
The Company
Conference call
Analyst of Ping An Securities Co., Ltd., Analyst of Boshi Fund Management Co., Ltd, Analyst of China Galaxy Securities Co., Ltd.,Analyst of Great wall Fund Management Co., Ltd., Analyst of China International Capital Co., Ltd., Analyst of South Fund Management Co., Ltd., Analyst of Guangfa Securities Co., Ltd., Analyst of China Ping An Assets Management Company.
August 25,2009
The Company
Sport investigation
UBS Securities Co., Ltd.
1. The vehicle traffic volume and toll income of the expressways held or partly held by the Company.
2. Status of main operation
3. The difficulties confronted by the Company and countermeasures.
4. The Company's
6Quarterly Report for the Third Quarter of 2009
September 14, 2009
The Company
Sport investigation
Industrial Securities Co., Ltd.
investment.
5. The implementation status of the Company's business plan.
3.6 Particulars about derivatives investment
□Applicable √ not applicable
3.6.1 Particulars about the positions of derivatives investment at the end of report period.
□Applicable √ not applicable
§4 Appendix
4.1 Balance sheet
Prepared by：Guangdong Provincial Expressway Development Co.，Ltd. September 30,2009 Unit：RMB
Year-end balance
Year-beginning balance
Items
Consolidated
Parent company
Consolidated
Parent company
Current asset：
Monetary fund
1,091,537,470.38
794,457,395.37
350,765,725.76
41,195,556.89
Settlement provision
Outgoing call loan
Trading financial assets
Bill receivable
Account receivable
31,130,337.32
12,654,511.88
Prepayments
334,034,793.81
85,087,576.90
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Interest receivable
Dividend receivable
32,521,691.32
32,521,691.32
14,970,025.14
14,970,025.14
Other account receivable
52,837,498.08
4,454,338.12
28,323,738.28
31,749,471.14
Repurchasing of financial assets
Inventories
270,835.44
405,711.52
Non-current asset due in 1 year
Other current asset
Total of current assets
1,542,332,626.35
831,433,424.81
492,207,289.48
87,915,053.17
Non-current assets：
Loans and payment on other’s behalf disbursed
7Quarterly Report for the Third Quarter of 2009
Disposable financial asset
Expired investment in possess
Long-term receivable
Long term share equity investment
2,694,635,419.19
3,756,838,988.71
2,196,261,073.68
3,257,393,823.31
Property investment
Fixed assets
3,592,540,134.93
10,560,264.87
3,443,865,259.05
11,186,504.90
Construction in progress
1,504,301,157.90
1,083,046,214.97
Engineering material
Fixed asset disposal
20,830.22
20,830.22
Production physical assets
Gas & petrol
Intangible assets
65,879,284.00
71,220,847.00
R & D petrol
Goodwill
Long-germ expenses to be amortized
1,160,193.31
1,968,947.82
Differed income tax asset
10,395,598.38
10,967,868.43
Other non-current asset
Total of non-current assets
7,868,932,617.93
3,767,420,083.80
6,807,330,210.95
3,268,580,328.21
Total of assets
9,411,265,244.28
4,598,853,508.61
7,299,537,500.43
3,356,495,381.38
Current liabilities
Short-term loans
494,000,000.00
50,000,000.00
300,000,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Trade off financial liabilities
Bill payable
Account payable
273,826,137.59
107,100,915.00
Advance payment
5,884,045.49
6,125,701.56
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable
9,421,126.69
5,704,465.71
11,827,195.03
7,000,193.40
Tax payable
8,127,674.91
10,678.62
3,911,924.42
196,664.32
Interest payable
9,076,227.01
1,133,333.33
5,537,848.30
Dividend payable
14,510,820.75
14,510,820.75
12,316,103.37
12,316,103.37
Other account payable
280,511,838.27
107,419,933.88
263,417,611.91
139,138,865.17
Reinsurance fee payable
Insurance contract provision
Entrusted trading of
8Quarterly Report for the Third Quarter of 2009
securities
Entrusted selling of securities
Non-current liability due in 1 year
450,000,000.00
290,000,000.00
Other current liability
207,469,015.27
Total of current liability
1,545,357,870.71
386,248,247.56
1,000,237,299.59
158,651,826.26
Non-current liabilities：
Long-term loan
2,947,954,803.54
2,348,324,803.54
Bond payable
788,857,325.84
788,857,325.84
Long-term payable
2,022,210.11
2,022,210.11
2,022,210.11
2,022,210.11
Special payable
100,000.00
100,000.00
Expected liabilities
Differed income tax liability
114,443,708.03
101,054,676.23
Other non-current liabilities
Total of non-current liabilities
3,853,378,047.52
790,879,535.95
2,451,501,689.88
2,022,210.11
Total of liability
5,398,735,918.23
1,177,127,783.51
3,451,738,989.47
160,674,036.37
Owners’ equity
Share capital
1,257,117,748.00
1,257,117,748.00
1,257,117,748.00
1,257,117,748.00
Capital reserves
1,534,906,856.32
1,534,906,856.32
1,534,906,856.32
1,534,906,856.32
Less：Shares in stock
Special reserve
Surplus reserves
91,921,501.73
91,921,501.73
91,921,501.73
91,921,501.73
Common risk provision
Undistributed profit
717,018,589.13
537,779,619.05
537,158,754.16
311,875,238.96
Different of foreign currency translation
Total of owner’s equity belong to the parent company
3,600,964,695.18
3,421,725,725.10
3,421,104,860.21
3,195,821,345.01
Minor shareholders’ equity
411,564,630.87
426,693,650.75
Total of owners’ equity
4,012,529,326.05
3,421,725,725.10
3,847,798,510.96
3,195,821,345.01
Total of liabilities and owners’ equity
9,411,265,244.28
4,598,853,508.61
7,299,537,500.43
3,356,495,381.38
4.2 Profit statement of the report period
Prepared by：Guangdong Provincial Expressway Development Co.，Ltd. July-September 2009 Unit：RMB
Report period
Same period of the previous year
Items
Consolidated
Parent company
Consolidated
Parent company
I. Total operating income
222,209,919.85
2,000.00
234,961,924.79
3,000.00
Including：Operating income
222,209,919.85
2,000.00
234,961,924.79
3,000.00
Interest income
Insurance gained
9Quarterly Report for the Third Quarter of 2009
Commission charge and commission income
II. Total operating cost
179,483,876.80
12,780,399.54
145,027,586.62
14,030,701.66
Including：operating cost
114,159,349.00
79,028,846.39
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras
7,415,668.55
100.00
7,235,326.53
150.00
Sales expenses
Administration expenses
26,564,169.01
11,363,459.76
25,039,910.16
13,240,971.64
Financial expenses
31,344,690.24
1,416,839.78
33,723,503.54
789,580.02
Losses of devaluation of assets
Add：changing income of fair value
Investment income
71,522,720.97
136,022,720.97
60,599,130.99
114,750,301.50
Including：Investment income on affiliated company and joint venture
71,522,720.97
71,522,720.97
60,599,130.99
60,825,301.50
Exchange income
III. Operating profit
114,248,764.02
123,244,321.43
150,533,469.16
100,722,599.84
Add：non-operating income
493,735.93
718,378.23
2,000.00
less：non-operating expense
76,141.46
1,008,525.83
30,000.00
Including：disposal loss of non-current assets
436,608.53
IV. Total profit
114,666,358.49
123,244,321.43
150,243,321.56
100,694,599.84
Less：expense of income tax
14,488,486.32
21,606,228.12
V. Net profit
100,177,872.17
123,244,321.43
128,637,093.44
100,694,599.84
Net profit attributable to owner’s equity of parent company
89,656,938.50
123,244,321.43
107,889,072.01
100,694,599.84
Minority shareholders’ gains and losses
10,520,933.67
20,748,021.43
VI. Earnings per share
（i）Basic earnings per share
0.07
0.09
（ii）Diluted earnings per share
0.07
0.09
VII. Other composite income
VIII. Total composite income
100,177,872.17
123,244,321.43
128,637,093.44
100,694,599.84
Including: Attributable to owners of parent Company
89,656,938.50
123,244,321.43
107,889,072.01
100,694,599.84
Attributable to minority shareholders
10,520,933.67
20,748,021.43
10Quarterly Report for the Third Quarter of 2009
4.3 Profit statement from Year-begin to period-end
Prepared by：Guangdong Provincial Expressway Development Co.，Ltd. January-September 2009 Unit：RMB
Report period
Same period of the previous year
Items
Consolidated
Parent company
Consolidated
Parent company
I. Total operating income
694,026,669.60
5,600.00
727,897,208.27
258,600.00
Including：Operating income
694,026,669.60
5,600.00
727,897,208.27
258,600.00
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost
483,817,549.59
38,053,282.24
447,642,406.01
37,799,964.49
Including：operating cost
281,819,027.25
260,553,852.05
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras
22,949,640.75
280.00
23,264,895.35
12,930.00
Sales expenses
Administration expenses
74,461,082.40
35,325,584.03
70,862,031.40
37,529,000.77
Financial expenses
100,201,262.84
2,727,418.21
93,677,504.60
743,426.39
Losses of devaluation of assets
4,386,536.35
-715,877.39
-485,392.67
Add：changing income of fair value
Investment income
204,280,950.84
389,629,312.13
219,143,210.40
495,860,329.03
Including：Investment income on affiliated company and joint venture
197,164,880.41
197,467,633.20
219,143,210.40
220,139,825.46
Exchange income
III. Operating profit
414,490,070.85
351,581,629.89
499,398,012.66
458,318,964.54
Add：non-operating income
1,513,650.96
34,525.00
2,489,048.89
2,000.00
less：non-operating expense
553,515.15
23,738,334.49
130,000.00
Including：disposal loss of non-current assets
70,692.18
22,057,242.95
IV. Total profit
415,450,206.66
351,616,154.89
478,148,727.06
458,190,964.54
Less：expense of income tax
60,953,723.80
59,686,246.61
V. Net profit
354,496,482.86
351,616,154.89
418,462,480.45
458,190,964.54
Net profit attributable to owner’s equity of parent company
305,571,609.77
351,616,154.89
359,133,158.76
458,190,964.54
Minority shareholders’ gains and losses
48,924,873.09
59,329,321.69
VI. Earnings per share
（i）Basic earnings per share
0.24
0.29
11Quarterly Report for the Third Quarter of 2009
（ii）Diluted earnings per share
0.24
0.29
VII. Other composite income
VIII. Total composite income
354,496,482.86
351,616,154.89
418,462,480.45
458,190,964.54
Including: Attributable to owners of parent Company
305,571,609.77
351,616,154.89
359,133,158.76
458,190,964.54
Attributable to minority shareholders
48,924,873.09
59,329,321.69
4.4 Cash flow statement from Year-begin to period-end
Prepared by：Guangdong Provincial Expressway Development Co.，Ltd. January-September 2009 Unit：RMB
Report period
Same period of the previous year
Items
Consolidated
Parent company
Consolidated
Parent company
I. Cash flows from operating activities
Cash received from sales of goods or rending of services
671,805,564.83
713,394,731.61
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
Other cash received from business operation
77,021,302.17
1,046,538,909.13
57,304,283.62
22,127,680.75
Sub-total of cash inflow
748,826,867.00
1,046,538,909.13
770,699,015.23
22,127,680.75
Cash paid for purchasing of merchandise and services
68,019,463.00
123,584,006.24
Net increase of client trade and advance
Net increase of savings n
12Quarterly Report for the Third Quarter of 2009
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
70,894,042.28
19,425,110.72
67,718,201.03
15,901,862.60
Taxes paid
70,642,162.76
157,525.81
107,532,537.46
8,013,051.90
Other cash paid for business activities
145,632,926.71
845,842,147.35
63,004,504.10
24,337,611.00
Sub-total of cash outflow from business activities
355,188,594.75
865,424,783.88
361,839,248.83
48,252,525.50
Cash flow generated by business operation, net
393,638,272.25
181,114,125.25
408,859,766.40
-26,124,844.75
II. Cash flow generated by investing
Cash received from investment retrieving
797,000.00
Cash received as investment gains
242,970,801.62
424,036,261.63
270,187,494.71
630,273,660.50
Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets
7,320.00
6,120.00
2,501,861.00
Net cash received from disposal of subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to investment activities
243,775,121.62
424,042,381.63
272,689,355.71
630,273,660.50
Cash paid for construction of fixed assets, intangible assets and other long-term assets
727,352,837.15
419,320.00
501,551,205.03
1,109,635.00
Cash paid as investment
562,500,000.00
562,500,000.00
276,251,100.00
276,251,100.00
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities
2,528.44
Sub-total of cash outflow due to investment activities
1,289,855,365.59
562,919,320.00
777,802,305.03
277,360,735.00
13Quarterly Report for the Third Quarter of 2009
Net cash flow generated by investment
-1,046,080,243.97
-138,876,938.37
-505,112,949.32
352,912,925.50
III. Cash flow generated by financing
Cash received as investment
Incl: Cash received as investment from minor shareholders
Cash received as loans
1,393,630,000.00
90,000,000.00
2,350,324,803.54
Cash received from bond placing
788,800,000.00
788,800,000.00
Other financing –related ash received
Sub-total of cash inflow from financing activities
2,182,430,000.00
878,800,000.00
2,350,324,803.54
Cash to repay debts
440,000,000.00
40,000,000.00
1,568,324,803.54
Cash paid as dividend, profit, or interests
349,216,111.23
127,775,175.97
526,539,048.56
303,242,766.46
Incl: Dividend and profit paid by subsidiaries to minor shareholders
Other cash paid for financing activities
Sub-total of cash outflow due to financing activities
789,216,111.23
167,775,175.97
2,094,863,852.10
303,242,766.46
Net cash flow generated by financing
1,393,213,888.77
711,024,824.03
255,460,951.44
-303,242,766.46
IV.Influence of exchange rate alternation on cash and cash equivalents
-172.43
-172.43
-35,078.40
-35,078.40
V.Net increase of cash and cash equivalents
740,771,744.62
753,261,838.48
159,172,690.12
23,510,235.89
Add: balance of cash and cash equivalents at the beginning of term
350,765,725.76
41,195,556.89
190,665,302.76
34,847,364.21
VI. Balance of cash and cash equivalents at the end of term
1,091,537,470.38
794,457,395.37
349,837,992.88
58,357,600.10
4.5 Auditor’ report
Auditor’s opinions: Not audited
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