The Third Quarterly Report 2012
I Important Statement
The Board of Directors , Supervisory Committee ,Directors , Supervisors, Senior Executives of the
Company guarantee that there are no significant omissions, fictitious or misleading statements
carried in the Report and we will accept individual and joint responsibilities for the truthfulness,
accuracy and completeness of the Report.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Mr. Zhou Yuming, Person in charge of the Company, Mr.Li Xiyuan , Person in charge of accounting works, Mr.
Xiao Laijiu ,CFO as well as person in charge of accounting institution represent and warrant the financial and
accounting report in the Third report is true and complete.
This report has been prepared in both Chinese and English. In case of discrepancy, the Chinese version shall
prevail.
II. Basic Information of the Company
1..Main accounting data and indices
If retrospective adjustment has been carried our on financial reports of previous periods.
□ Yes √ No □ Not applicable
2012.9.30 2011.12.31 Increase /decrease（％）
Total assets（RMB） 12,901,279,927.96 11,802,427,175.92 9.31%
Owner’s equity attributable to
the shareholders of the listed 4,224,959,595.67 4,115,126,105.45 2.67%
company （RMB）
Stock capital（Shares） 1,257,117,748.00 1,257,117,748.00 0%
Net assets per share
attributable to the
shareholders of the listed 3.36 3.27 2.67%
company（RMB/shares）
Increase/decrease in the Increase/decrease in the
report period compared January-September report period compared
July-September 2012
with the same period of 2012 with the same period of
the last year(%) the last year(%)
Total turnover(RMB) 283,863,936.55 4.31% 828,113,102.52 5.47%
Net profit attributable to
shareholders of the listed 68,005,779.73 -17.2% 225,489,377.62 -0.8%
company（RMB）
Net cash flow arising
from operating activities -- -- 512,268,846.01 1.18%
（RMB）
Net cash flow per share -- -- 0.41 1.18%
1
arising from operating
activities（yuan/shares）
Basic earnings per share
0.05 -28.57% 0.18 0%
（yuan/shares）
Diluted earnings per
0.05 -28.57% 0.18 0%
share（yuan/shares）
Weighted average return
1.62% -0.34 5.36% 0.05%
on equity（%）
Weighted average Return
on net assets after
1.61% -0.34% 5.29% -0.64%
deducting non-recurring
gains and losses（%）
Items and amount of non-current gains and losses deducted
√ applicable □ not applicable
Amount from the
beginning of year to
Items Remarks
the end of report period
（RMB）
Gain/loss form disposal of non-current assets 2,666,829.02
Tax refund, deduction and exemption that is examined and
approved by authority exceeding or has no official approval
document.
Governmental Subsidy accounted as current gain/loss,
except for those subsidies at with amount or quantity fixed
by the national government and closely related to the
Company’s business operation.
Capital adoption fee collected from non-financial
organizations and accounted into current gain/loss
Gain/loss from differences between the cost of enterprise
merger and the fair value of recognizable net asset of the
invested entities
Gain/loss from non-monetary assets
Gain/loss from commissioned investment or assets
Asser impairment provisions provided for force-majeur
Gain/loss from debt reorganization
Enterprise reorganizing expenses, such as employee
placement fee and integration fee
Gain/loss from trade departing from fair value
Current net gain/loss of subsidiaries under same control
from beginning of term till date of consolidation
Gain/loss generated by contingent liabilities without
connection with main businesses
In addition to normal business with the company effective
hedging related business, holders of tradable financial
assets, transactions and financial liabilities arising from
changes in fair value gains and losses, as well as the
disposal of trading of financial assets, trading financial
liabilities and available-for-sale financial assets gains return
on investment;
Restoring of receivable account impairment provision tested
individually
2
Gain/loss from commissioned loans
Gain/loss from change of fair value of investment property
measured at fair value in follow-up measurement
Influence of one-time adjustment made on current gain/loss
account according to the laws and regulations regarding tax
and accounting
Consigning fee received for cosigned operation
Net amount of non-operating income and expense except
1,231,899.54
the aforesaid items
Other gain/loss items satisfying the definition of
non-recurring gain/loss account
Influenced amount of minority shareholders’ equity
Amount of influence of income tax -974,682.62
Total 2,924,045.94 --
The information of main accounting data and main financial indices of the company by the end of report
period...(Filling the adjustment explanation if retroactive adjusted)
Items Amount（RMB） Remarks
II. Total number of shareholders and top 10 holders of shareholders at the end of report period
Unit：Shares
Total number of shareholders at
95,161
the end of report period
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Amount of tradable shares with Type and amount
Full name of shareholder unrestricted conditions held at
the end of report period Type Amount
Guangdong Communication
103,379,742 RMB common shares 103,379,742
Group Co., Ltd.
Foreign shares placed in
Xinyue Co., Ltd. 13,201,086 13,201,086
domestic exchange
Guangdong Yuecai Trust
12,174,345 RMB common shares 12,174,345
Investment Co., Ltd.
China Merchants Securities Co.,
Ltd credit transaction
guarantee securities accounts
11,896,090 RMB common shares 11,896,090
China Merchants Securities Co.,
Ltd credit transaction
guarantee securities accounts
China investment securities C
o., Ltd. credit transaction gua
rantee securities accounts Chi
7,015,760 RMB common shares 7,015,760
na Merchants Securities Co.,
Ltd credit transaction guarant
ee securities accounts
Haerbin Daoli District, Treasury
6,022,531 RMB common shares 6,022,531
Services Dept.
Shanxi Huiteng International
3,716,200 RMB common shares 3,716,200
Freight Forwarding Co., Ltd.
STICHTING PGGM Foreign shares placed in
3,599,861 3,599,861
DEPOSITARY domestic exchange
3
Foreign shares placed in
Chen Shukai 2,909,100 2,909,100
domestic exchange
Foreign shares placed in
Lu Weiqiang 2,888,848 2,888,848
domestic exchange
Notes to the related relationship Guangdong Communication Group Co., Ltd. is the parent company of Guangdong Expressway
between the shareholders or Co., Ltd. and Xinyue Co., Ltd.. It is unknown whether there is relationship between other
their concerted action: shareholders and whether they are persons taking concerted action specified in the Regulations on
Disclosure of Information about Change in Shareholding of Shareholders of Listed Companies.
§3 Significant Events
1 Particular about large-margin change of main accounting statement item and financial index and its reason.
√ Applicable □ Not applicable
Items of balance sheet
1. Monetary capital
Monetary capital increased by RMB 386 million and 37.84% over the beginning of the year mainly due to net
cash inflow of RMB 512 million from operating activities, net cash outflow of RMB 552 million from investing
activities and net cash inflow of RMB 425 million from financing activities.
2.Accountreceivable
Accounts receivable increased by RMB 30.52 million and 172.20% over the beginning of the year mainly due to
increase of toll income receivable from United Electronic Toll Center by Guangfo Expressway Co., Ltd. and
Guangdong Fokai Expressway Co., Ltd.
3. Construction in progress
Construction in progress increased by RMB 961 million and 34.82% over the beginning of the year mainly due to
additional investment of RMB 661 million into Fokai Expressway expansion project and additional investment of
RMB 265 million in the overhaul of Fokai Expressway in current period.
4.Long-term prepaid expenses
Long-term prepaid expenses increased by RMB 1.3 million and 351.73% over the beginning of the year due to
increase of decoration expenses of offices in Litong Plaza leased by the parent company.
5.Short-term loan
Short-term loan decreased by RMB 282 million and 31.58% over the beginning of the year due to decrease of
working capital loan of the parent company by RMB 262 million, decrease of working capital loan of Guangdong
Fokai Expressway Co., Ltd. by RMB 180 million and increase of working capital loan of Guangfo Expressway
Co., Ltd. by RMB 160 million in the current period.
6. Accounts payable
Accounts payable increased by RMB 54.49 million and 40.30% over the beginning of the year mainly due to
increase of accounts payable to Fokai Expansion Project.
7. Remuneration payable to staff and workers
Remuneration payable to staff and workers increased by RMB 0.88 million and 44.20% over the beginning of the
year mainly due to increase of ending balance.
8. Taxes and levies payable
Taxes and levies payable increased by RMB 36.55 million and 279.63% over the beginning of the year mainly
due to increase of balance of income tax payable.
9. Interest payable
Interest payable increased by RMB 38.68 million and 104.08% over the beginning of the year mainly due to
provision for medium term notes interest of RMB 50.93 million in current period.
10. Non-current liabilities to mature within one year
Non-current liabilities to mature within one year increased by RMB 1.037 billion and 269.95% over the beginning
of the year mainly due to increase of Guangdong Fokai Expressway Co., Ltd.'s long-term loan to mature within
one year by RMB 1.077 billion.
Items of profit statement as compared with the same period of the previous year
1. Financial expenses
Financial expenses increased by RMB 65.66 million and 40.47% year on year mainly due to: (1) increase of debt
principal; (2) The interest rate that was effective from July 7, 2011 applied to some original loans. The interest
4
rate after adjustment was highter than the original interest rate.
2.Non-business expenses
Notes of main items of cash flow statement
1 Other cash income related to operating activities
Other cash income related to operating activities decreased by 66.16% and RMB 88.03 million year on year
mainly due to decrease of cash inflows from business transactions between the parent company and Guangdong
Guanghui Expressway Co., Ltd. by RMB 55 million, decrease of project security deposit and performance
security deposit received by Guangdong Fokai Expressway Co., Ltd. by RMB 12.93 million and decrease of net
cash inflow from the difference between unsplit cash toll income received by Guangfo Expressway Co., Ltd. and
the part transferred out by RMB 6.53 million.
2. Other cash payment related to operating activities
Other cash payment related to operating activities decreased by 56.68% and RMB 81.64 million year on year
decrease of cash outflows from business transactions between the parent company and Guangdong Guanghui
Expressway Co., Ltd. by RMB 55 million and decrease of project security deposit and performance security
deposit returned by Guangdong Fokai Expressway Co., Ltd. by RMB 19.08 million.
3. Net cash received from the disposal of fixed assets, intangible assets and other long-term assets
Net cash received from the disposal of fixed assets, intangible assets and other long-term assets increased by
33741.49% and RMB 4.74 million year on year mainly due to receipt of RMB 4.1506 million by Guangdong
Fokai Expressway Co., Ltd. from disposal of scrapped expanded guard rails.
4. Cash paid for construction of fixed assets, intangible assets and other long-term assets
It is mainly the payment of RMB 729 million by Guangdong Fokai Expressway Co., Ltd. for expansion project of
Xiebian-Sanbao Section and progress of overhaul project in current period. The year-on-year increase by 45.22%
and RMB 251 million is mainly due to the increase of investment in the above-mentioned projects in current
period.
5. Cash paid for investment
In current period, the Company did not pay cash for external investment, In the same period of previous year, the
parent company contributed capital of RMB 290 million to Guangdong Guangle Expressway Co., Ltd. Therefore,
the amount of this item decreased by RMB 290 million year on year.
6. Cash received from absorption of investment
In current period, Guangdong Fokai Expressway Co., Ltd. received capital payment of RMB 102.94 million from
minority shareholders, which increased by 82.52% and RMB 46.54 million year on year due to increase of captial
payment by minority shareholders.
7. Cash received from obtaining loans
Cash received from obtaining loans increased by 108.85% and RMB 1.177 billion year on year, which is mainly:
(1) the bank loans, insurance fund loans and entrusted loans provided by affiliated enterprises received by the
parent company in current period, which total RMB 1.066 billion; (2) loans of RMB 853 million borrowed by
Guangdong Fokai Expressway Co., Ltd. from banks in current period; (3) loans of RMB 340 million borrowed by
Guangfo Expressway Co., Ltd. from banks in current period.
8. Cash repayments of debts
The amount of principal repayment increased by 123.91% and RMB 876 million year on year due to increase of
principal of due loans, which mainly are (1) repayment of due bank loan of RMB 682 million by the parent
company in current period; (2) repayment of bank loan of RMB 681 million by Guangdong Fokai Expressway Co.,
Ltd. in current period; (3) repayment of bank loans of RMB 220 million by Guangfo Expressway Co., Ltd. in
current period.
II. The progress of significant events and influence, as well as the analysis and explanation on resolving proposal
reason.
1. Non-standard Opinion
□applicable √ not applicable
5
2 The Company provided funds to its controlling shareholder or related parties and provided guarantees in
violation of established procedures.
□applicable √ not applicable
3.Signing and performance of significant contracts for daily operation
□applicable √ not applicable
4.Other
□applicable √ not applicable
III. Companies or shareholders holding more than 5% equity during the reporting period or the commitments
continued to the reporting period.
IV. Prediction of Business performance for 2012.
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. Other significant events need to be explained
1.Securities investment
□applicable √ not applicable
2. Derivative Investment
□applicable √ not applicable
3.Particulars about derivatives investment held at the end of report period
□applicable √ not applicable
4. The registration form of acceptance of investigation, communication and interview in the report period for
future reference
Content of
Date Place Mode Type Visitor discussion and
materials provided
5.Issue of corporate bond
Have the company issued any corporate bond
√ Yes □ No
Document CSRC permit No.(2009) 849 issued by China Securities Regulatory Commission had been approved, The Company
6
conducted an online public offering of corporate bonds to public investors on September 21, 2009, and an offline offering of
corporate bonds to institutional investors from September 21 to 23, 2009.(The online public offering code is “101699”, named as “09
Guangdong Expressway Bond”).the amount of current company bond issuing is RMB 800 million. RMB 100/per bond, The issuing
price of each bond is RMB100 yuan. The Company issued 8 million corporate bonds at the price of RMB100 per bond. The coupon
rate is 5.1% and the term is five years.
China Securities Depository and Clearing Co., Ltd.Shenzhen branch completed registration of corporate bonds in the current period o
n September 28,2009.With the consent of Shenzhen Stock Exchange, company bond will be listed in Shenzhen Stock Exchange since
Oct. 16th, 2009. The short name of the bond is “09 Guangdong Expressway Bond”, the stock code is “112009”.
§4 Appendix
1 Financial statements
Consolidated or not：
√Yes □ No□not applicable
All figures in the notes to the financial statements are in RMB yuan except for otherwise stated.
1. Consolidated Balance sheet
Prepared by:：Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Year-end balance
Items Year-beginning balance
Current asset：
Monetary fund 1,404,634,441.40 1,018,999,531.05
Settlement provision
Outgoing call loan
Trading financial assets
Bill receivable
Account receivable 48,250,573.22 17,726,118.11
Prepayments 129,509,847.20 144,982,896.65
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable
Dividend receivable 69,360,130.21 90,658,881.05
Other account receivable 36,881,288.80 37,983,304.82
Repurchasing of financial assets
Inventories
Non-current asset due in 1 year
Other current asset
7
Total of current assets 1,688,636,280.83 1,310,350,731.68
Non-current assets：
Loans and payment on other’s
behalf disbursed
Disposable financial asset 638,400,000.00 691,200,000.00
Expired investment in possess
Long-term receivable
Long term share equity investment 2,966,631,772.31 2,918,288,171.88
Property investment 5,192,878.03 5,541,038.08
Fixed assets 3,832,731,015.56 4,063,417,803.17
Construction in progress 3,721,169,390.61 2,760,092,723.87
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 46,844,731.53 53,166,163.90
R & D petrol
Goodwill
Long-germ expenses to be
1,673,859.09 370,543.34
amortized
Differed income tax asset
Other non-current asset
Total of non-current assets 11,212,643,647.13 10,492,076,444.24
Total of assets 12,901,279,927.96 11,802,427,175.92
Current liabilities
Short-term loans 609,970,000.00 891,470,000.00
Loan from Central Bank
Deposit received and hold for
others
Call loan received
Trade off financial liabilities
Bill payable
Account payable 189,723,409.12 135,228,709.74
Advance payment 4,972,991.30 5,392,391.20
Selling of repurchased financial
assets
Fees and commissions receivable
Employees’ wage payable 2,887,178.34 2,002,220.57
Tax payable 49,617,377.54 13,070,029.12
Interest payable 75,838,548.72 37,161,794.55
Dividend payable 29,369,831.21 29,154,211.10
Other account payable 267,711,507.28 319,750,258.89
Reinsurance fee payable
8
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year 1,421,356,100.00 384,200,000.00
Other current liability
Total of current liability 2,651,446,943.51 1,817,429,615.17
Non-current liabilities：
Long-term loan 3,334,763,703.54 3,309,764,803.54
Bond payable 1,792,575,420.51 1,790,792,109.05
Long-term payable 2,022,210.11 2,022,210.11
Special payable
Expected liabilities
Differed income tax liability 121,410,741.27 126,663,710.47
Other non-current liabilities
Total of non-current liabilities 5,250,772,075.43 5,229,242,833.17
Total of liability 7,902,219,018.94 7,046,672,448.34
Owners’ equity
Share capital 1,257,117,748.00 1,257,117,748.00
Capital reserves 1,645,158,715.57 1,697,958,715.57
Less：Shares in stock
Special Reserve
Surplus reserves 191,496,386.02 191,496,386.02
Common risk provision
Undistributed profit 1,131,186,746.08 968,553,255.86
Different of foreign currency translation
Total of owner’s equity belong to the
4,224,959,595.67 4,115,126,105.45
parent company
Minor shareholders’ equity 774,101,313.35 640,628,622.13
Total of owners’ equity 4,999,060,909.02 4,755,754,727.58
Total of liabilities and owners’ equity 12,901,279,927.96 11,802,427,175.92
legal representative ：Zhou Yuming
Person-in-charge of the accounting work：Li Xiyuan
Person-in -charge of the accounting organ：Xiao Laijiu
2. Balance sheet of the Parent Company
Prepared by:：Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Items Year-end balance Year-beginning balance
9
Current asset：
Monetary fund 1,148,982,773.84 701,899,352.28
Trading financial assets
Bill receivable
Account receivable
Prepayments 1,446,420.00
Interest receivable 18,222.22 316,891.66
Dividend receivable 118,275,706.55 139,574,457.39
Other account receivable 8,098,549.73 3,657,454.90
Inventories
Non-current asset due in 1 year
Other current asset 10,000,000.00 160,000,000.00
Total of current assets 1,286,821,672.34 1,005,448,156.23
Non-current assets：
Disposable financial asset 638,400,000.00 691,200,000.00
Expired investment in possess
Long-term receivable
Long term share equity investment 5,066,390,341.83 4,763,046,741.40
Property investment 4,940,739.78 5,288,899.83
Fixed assets 6,122,474.14 5,837,841.17
Construction in progress
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets
R & D petrol
Goodwill
Long-germ expenses to be
1,673,859.09 335,238.40
amortized
Differed income tax asset
Other non-current asset
Total of non-current assets 5,717,527,414.84 5,465,708,720.80
Total of assets 7,004,349,087.18 6,471,156,877.03
Current liabilities
Short-term loans 219,970,000.00 481,470,000.00
Trade off financial liabilities
Bill payable
Account payable
Advance payment
Employees’ wage payable 141,924.86 88,015.62
Tax payable 136,883.39 1,912,304.18
10
Interest payable 68,039,864.04 29,720,154.33
Dividend payable 13,064,639.09 12,849,018.98
Other account payable 2,643,739.43 109,125,634.87
Non-current liability due in 1 year
Other current liability 159,422,463.03 65,542,566.45
Total of current liability 463,419,513.84 700,707,694.43
Non-current liabilities：
Long-term loan 750,000,000.00
Bond payable 1,792,575,420.51 1,790,792,109.05
Long-term payable 2,022,210.11 2,022,210.11
Special payable
Expected liabilities
Differed income tax liability
Other non-current liabilities
Total of Non-current liabilities 2,544,597,630.62 1,792,814,319.16
Total of liability 3,008,017,144.46 2,493,522,013.59
Owners’ equity
Share capital 1,257,117,748.00 1,257,117,748.00
Capital reserves 1,645,306,856.32 1,698,106,856.32
Less：Shares in stock
Special reserves
Surplus reserves 191,496,386.02 191,496,386.02
Common risk provision
Undistributed profit 902,410,952.38 830,913,873.10
Different of foreign currency translation
Total of owners’ equity 3,996,331,942.72 3,977,634,863.44
Total of liabilities and owners’ equity 7,004,349,087.18 6,471,156,877.03
Legal representative ：Zhou Yuming
Person-in-charge of the accounting work：Li Xiyuan
Person-in -charge of the accounting organ：Xiao Laijiu
3. Profit statement（Consolidated）of the report period
Prepared by:：Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Items Report period Same period of the previous year
I. Total operating income 283,863,936.55 272,127,868.29
Including：Operating income 283,863,936.55 272,127,868.29
Interest income
Insurance gained
11
Commission charge and commission
income
II. Total operating cost 265,396,431.73 255,893,018.72
Including：Operating cost 139,705,831.46 154,845,889.63
Interest expense
Commission chare 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 10,486,850.47 9,819,742.72
Sales expenses
Administration expenses 43,579,215.04 33,844,250.63
Financial expenses 71,624,534.76 57,383,135.74
Losses of devaluation of assets
Add ：Changing income of fair value
Investment income 80,525,538.01 87,729,313.67
Including：Investment income on affiliate
80,525,538.02 87,729,313.66
company and joint venture
Exchange income
III. Operating profit 98,993,042.83 103,964,163.24
Add ：Non-operating income 861,614.09 395,082.27
Less：Non-operating expense 189,403.46 273,212.04
Including :Disposal loss of non-current
5,156.69
assets
IV. Total profit 99,665,253.46 104,086,033.47
Less：Income tax 17,729,346.50 12,775,861.21
V. Net profit 81,935,906.96 91,310,172.26
Including: Net profit realized by the
entity taken over before the takeover
Net profit attributable to owner’s equity of
68,005,779.73 82,135,472.84
parent company
Minority shareholders’ gains and
13,930,127.23 9,174,699.42
losses
VI. Earnings per share： -- --
（I）Basic earnings per share 0.05 0.07
(II)Diluted earnings per share 0.05 0.07
VII. Other comprehensive income -43,200,000.00 -96,000,000.00
VIII. Total comprehensive income 38,735,906.96 -4,689,827.74
Total comprehensive income attributable to
24,805,779.73 -13,864,527.16
the owner of the parent company
Total comprehensive income attributable
13,930,127.23 9,174,699.42
minority shareholders
Enterprise combination under same controlling at the end of current period. the net profit for the
enterprise to be combined is 0..00..
12
Legal representative ：Zhou Yuming
Person-in-charge of the accounting work：Li Xiyuan
Person-in -charge of the accounting organ：Xiao Laijiu
4. Profit statement（Parent Company）of the report period
Prepared by:：Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Items Report period Same period of the previous year
I. Business income 4,406,339.18 1,410,212.08
Less：Business cost 116,053.35 116,053.35
Business tax and surcharge 209,678.57 46.72
Sales expense
Administrative expense 26,060,235.66 13,998,506.53
Financial expenses 32,441,581.40 17,940,325.30
Asset impairment loss
Add：Gains from change of fir
value （“-”for loss）
Investment gain（“-”for loss） 80,525,538.02 130,909,044.87
Incl: investment gains from
80,525,538.02 87,729,313.66
affiliates
II. Operational profit 26,104,328.22 100,264,325.05
Add：Non-business income
Less：Non business expenses
Incl：Loss from disposal of
non-current assets
III.Total profit 26,104,328.22 100,264,325.05
Less：Income tax expenses
IV. Net profit 26,104,328.22 100,264,325.05
V. Earnings per share -- --
（I）Basic earnings per share 0.02 0.08
(II)Diluted earnings per share 0.02 0.08
VII. Other comprehensive income -43,200,000.00 -96,000,000.00
VIII. Total comprehensive income -17,095,671.78 4,264,325.05
Legal representative ：Zhou Yuming
Person-in-charge of the accounting work：Li Xiyuan
Person-in -charge of the accounting organ：Xiao Laijiu
13
5. Profit statement（Consolidated ）from year-begin to the end of report period
Prepared by:：Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Items Report period Same period of the previous year
I. Total operating income 828,113,102.52 785,170,946.81
Including：Operating income 828,113,102.52 785,170,946.81
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 795,489,540.74 692,261,808.57
Including：Operating cost 415,778,263.53 406,574,693.67
Interest expense
Commission chare 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 30,613,396.38 28,666,689.42
Sales expenses
Administration expenses 121,211,692.06 94,794,917.81
Financial expenses 227,886,188.77 162,225,507.67
Losses of devaluation of assets -142,376.38 -7,985.84
Add ：Changing income of fair value
Investment income 276,505,425.97 258,198,720.46
Including：Investment income on affiliate
244,585,425.98 235,494,720.45
company and joint venture
Exchange income
III. Operating profit 309,271,364.13 351,115,844.54
Add ：Non-operating income 6,160,108.66 4,936,972.65
Less：Non-operating expense 961,803.27 55,036,151.25
Including :Disposal loss of non-current
183,643.81 54,625,699.42
assets
IV. Total profit 314,469,669.52 301,016,665.94
Less：Income tax 50,319,873.91 53,470,995.78
V. Net profit（“-”for net loss 264,149,795.61 247,545,670.16
Including: Net profit realized by the
entity taken over before the takeover
Net profit attributable to the
225,489,377.62 227,301,160.07
owners of parent company
Minority shareholders’ equity 38,660,417.99 20,244,510.09
VI. Earnings per share： -- --
14
（I）Basic earnings per share 0.18 0.18
(II)Diluted earnings per share 0.18 0.18
VII. Other comprehensive income -52,800,000.00 -242,400,000.00
VIII. Total comprehensive income 211,349,795.61 5,145,670.16
Total comprehensive income attributable to
172,689,377.62 -15,098,839.93
the owner of the parent company
Total comprehensive income attributable
38,660,417.99 20,244,510.09
minority shareholders
Enterprise combination under same controlling at the end of current period. the net profit for the
enterprise to be combined is 0.00.
Legal representative ：Zhou Yuming
Person-in-charge of the accounting work：Li Xiyuan
Person-in -charge of the accounting organ：Xiao Laijiu
6.. Profit statement（Parent company）from Year-begin to the end of report period
Prepared by:：Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Items Report period Same period of the previous year
I. Business income 9,019,146.26 3,201,099.03
Less：Business cost 348,160.05 348,160.05
Business tax and surcharge 471,393.55 101,948.18
Sales expense
Administrative expense 67,012,246.01 45,962,350.76
Financial expenses 107,707,984.38 49,413,140.86
Asset impairment loss
Add：Gains from change of fir
value （“-”for loss）
Investment gain（“-”for loss） 300,873,606.31 330,631,541.63
Incl: investment gains from
244,585,425.98 235,494,720.45
affiliates
II. Operational profit 134,352,968.58 238,007,040.81
Add：Non-business income 3,391,900.00
Less：Non business expenses 1.90 230.00
Incl：Loss from disposal of
non-current assets
III.Total profit 134,352,966.68 241,398,710.81
Less：Income tax expenses
IV. Net profit 134,352,966.68 241,398,710.81
V. Earnings per share -- --
（I）Basic earnings per share 0.11 0.19
15
(II)Diluted earnings per share 0.11 0.19
VII. Other comprehensive income -52,800,000.00 -242,400,000.00
VIII. Total comprehensive income 81,552,966.68 -1,001,289.19
Legal representative ：Zhou Yuming
Person-in-charge of the accounting work：Li Xiyuan
Person-in -charge of the accounting organ：Xiao Laijiu
7. Cash flow statement（Consolidated）from year-begin to the end of report period
Prepared by:：Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Items Report period Same period of the previous year
I.Cash flows from operating activities
Cash received from sales of goods or
790,555,585.24 760,844,443.16
rending of services
Net increase of customer deposits
and capital kept for brother company
Net increase of loans from
central bank
Net increase of inter-bank loans
from 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 124,000.00
Other cash received from business
43,821,050.66 131,850,929.00
operation
Sub-total of cash inflow 834,376,635.90 892,819,372.16
Cash paid for purchasing of
76,451,149.68 97,974,268.87
merchandise and services
Net increase of client trade and
advance
16
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
132,932,547.89 104,356,715.58
staffs
Taxes paid 50,335,601.37 40,188,293.22
Other cash paid for business
62,388,490.95 144,027,416.53
activities
Sub-total of cash outflow from
322,107,789.89 386,546,694.20
business activities
Cash flow generated by business
512,268,846.01 506,272,677.96
operation, net
II.Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains 249,460,576.39 316,786,224.31
Net cash retrieved from disposal of
fixed assets, intangible assets, and 4,754,729.60 14,050.00
other long-term assets
Net cash received from disposal of
subsidiaries or other operational
units
Other investment-related cash
received
Sub-total of cash inflow due to
254,215,305.99 316,800,274.31
investment activities
Cash paid for construction of
fixed assets, intangible assets 805,851,971.46 554,904,577.96
and other long-term assets
Cash paid as investment 290,000,000.00
Net increase of loan against pledge
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
805,851,971.46 844,904,577.96
investment activities
Net cash flow generated by
-551,636,665.47 -528,104,303.65
investment
III.Cash flow generated by financing
Cash received as investment 102,935,000.00 56,397,500.00
Incl: Cash received as investment
from minor shareholders
Cash received as loans 2,258,690,000.00 1,081,490,000.00
17
Cash received from bond
placing
Other financing –related ash
received
Sub-total of cash inflow from
2,361,625,000.00 1,137,887,500.00
financing activities
Cash to repay debts 1,583,035,000.00 707,000,000.00
Cash paid as dividend, profit, or
347,926,625.44 376,123,027.79
interests
Incl: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing
5,470,000.00
activities
Sub-total of cash outflow due to
1,936,431,625.44 1,083,123,027.79
financing activities
Net cash flow generated by
425,193,374.56 54,764,472.21
financing
IV. Influence of exchange rate
alternation on cash and cash -190,644.75 -17,188.56
equivalents
V.Net increase of cash and cash
385,634,910.35 32,915,657.96
equivalents
Add: balance of cash and cash
1,018,999,531.05 258,881,333.75
equivalents at the beginning of term
VI ..Balance of cash and cash
1,404,634,441.40 291,796,991.71
equivalents at the end of term
Legal representative ：Zhou Yuming
Person-in-charge of the accounting work：Li Xiyuan
Person-in -charge of the accounting organ：Xiao Laijiu
8. Cash flow statement（Parent Company）from year-begin to the end of report period
Prepared by:：Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Items Report period Same period of the previous year
I.Cash flows from operating activities
Cash received from sales of goods or
976,776.22
rending of services
Tax returned 124,000.00
Other cash received from business
99,479,347.89 80,945,428.04
operation
Sub-total of cash inflow 100,456,124.11 81,069,428.04
Cash paid for purchasing of
18
merchandise and services
Cash paid to staffs or paid for
36,679,346.68 25,074,243.19
staffs
Taxes paid 688,359.37 117,105.16
Other cash paid for business
35,253,552.01 122,511,084.25
activities
Sub-total of cash outflow from
72,621,258.06 147,702,432.60
business activities
Cash flow generated by business
27,834,866.05 -66,633,004.56
operation, net
II.Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains 273,828,756.72 359,965,955.52
Net cash retrieved from disposal of
fixed assets, intangible assets, and 13,500.00
other long-term assets
Net cash received from disposal of
subsidiaries or other operational
units
Other investment-related cash
164,972,427.76 157,881,266.94
received
Sub-total of cash inflow due to
438,801,184.48 517,860,722.46
investment activities
Cash paid for construction of
fixed assets, intangible assets 1,756,912.80 827,086.00
and other long-term assets
Cash paid as investment 255,000,000.00 479,192,500.00
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
10,000,000.00 205,000,000.00
activities
Sub-total of cash outflow due to
266,756,912.80 685,019,586.00
investment activities
Net cash flow generated by
172,044,271.68 -167,158,863.54
investment
III.Cash flow generated by financing
Cash received as investment
Cash received as loans 1,065,990,000.00 601,490,000.00
Cash received from bond
placing
Other financing –related ash
received
Sub-total of cash inflow from
1,065,990,000.00 601,490,000.00
financing activities
Cash to repay debts 682,490,000.00 175,000,000.00
Cash paid as dividend, profit, or 130,635,071.42 179,370,107.64
19
interests
Other cash paid for financing
5,470,000.00
activities
Sub-total of cash outflow due to
818,595,071.42 354,370,107.64
financing activities
Net cash flow generated by
247,394,928.58 247,119,892.36
financing
IV. Influence of exchange rate
alternation on cash and cash -190,644.75 -17,188.56
equivalents
V.Net increase of cash and cash
447,083,421.56 13,310,835.70
equivalents
Add: balance of cash and cash
701,899,352.28 179,597,767.35
equivalents at the beginning of term
VI ..Balance of cash and cash
1,148,982,773.84 192,908,603.05
equivalents at the end of term
Legal representative ：Zhou Yuming
Person-in-charge of the accounting work：Li Xiyuan
Person-in -charge of the accounting organ：Xiao Laijiu
II.Auditor’s report
Auditor’s opinions Unaudited
Text of Auditing report
20
