Guangdong Provincial Expressway Development Co., Ltd.
The Third Quarterly Report 2013
October 2013
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. Li Xiyuan, Person in charge of the Company, Mr.Xiao Laijiu , Person in charge of accounting works, Mr. Liu
Xiaomei ,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.
II.Main financial data and changes of shareholders
（1）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） 13,064,632,252.45 13,154,565,539.37 -0.68%
Net assets attributable to the
shareholders of the listed company 4,251,845,641.16 4,268,859,963.87 -0.4%
（RMB）
Increase/decrease over
January 1, 2013 to Changed （%）over
Reporting period the same period of last
September 30,2013 end of prev. year
year（%）
Operating income（RMB） 353,108,286.14 24.39% 983,083,874.32 18.71%
Net profit attributable to the
shareholders of the listed company 39,313,953.56 -42.19% 96,925,851.09 -57.02%
（RMB）
Net profit after deducting of
39,339,575.93 -41.83% 96,347,434.27 -56.71%
non-recurring gain/loss attributable
to the shareholders of listed
company（RMB）
Cash flow generated by business
-- -- 560,921,751.58 9.5%
operation, net（RMB）
Basic earning per
0.03 -40% 0.08 -55.56%
share(RMB/Share)
Diluted gains per
0.03 -40% 0.08 -55.56%
share(RMB/Share)(RMB/Share)
Weighted average income/asset
0.93% -0.69% 2.27% -3.09%
ratio（%）
Items and amount of non-current gains and losses
√Applicable □Not applicable
Unit:RMB
Amount (Year-beginning to
Items Notes
the end of the report period.)
Non-current asset disposal gain/loss(including the
write-off part for which assets impairment provision is -420,841.32
made)
Other gain/loss items satisfying the definition of non-recurring
1,261,774.24
gain/loss account
Less：Amount of influence of income tax 262,516.10
Total 578,416.82 --
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
(II)Total number of shareholders at the end of report period and Particular about shares held by top ten
shareholders
Unit：Shares
Total number of shareholders at the
90,751
end of report period
Particular about shares held by top ten shareholders
Properties of Share Amount of Pledging or freezing
Shareholder name Quantity
shareholder proportion % tradable shares Status of the Quantity
with Conditional shares
held
Guangdong
State-owned legal
Communication 40.83% 513,328,290 409,948,548 Frozen 103,379,742
person
Group Co.,Ltd
Domestic non
Haerbin Hale
State-owned 1.74% 21,881,737
Industry Co., Ltd.
Legal person
Guangdong
State-owned legal
Expressway Co., 1.56% 19,582,228 19,582,228
person
Ltd
Overseas legal
Xinyue Co., Ltd. 1.05% 13,201,086
person
Guangdong
Yuecai Trust State-owned legal
0.97% 12,174,345
Investment CO., person
Ltd.
Domestic Natural
Li Zhuo 0.91% 11,430,083
Person
Domestic Natural
Liu Feng 0.31% 3,869,221
Person
Shanxi Huiteng
International Domestic non
Freight State-owned 0.3% 3,763,490
Forwarding Co., Legal person
Ltd.
Domestic Natural
Hu Maohua 0.24% 3,059,280
Person
Domestic Natural
Lu Weiqiang 0.23% 2,888,848
Person
Shareholding of top 10 shareholders of unrestricted shares
Quantity of unrestricted Share type
Name of the shareholder shares held at the end of
Share type Quantity
the reporting period
Guangdong Communication Group Co.,Ltd 103,379,742 RMB common shares 103,379,742
Haerbin Hale Industry Co., Ltd. 21,881,737 RMB common shares 21,881,737
Foreign shares placed in
Xinyue Co., Ltd. 13,201,086 13,201,086
domestic exchange
Guangdong Yuecai Trust Investment CO., Ltd. 12,174,345 RMB common shares 12,174,345
Li Zhuo 11,430,083 RMB common shares 11,430,083
Liu Feng 3,869,221 RMB common shares 3,869,221
Shanxi Huiteng International Freight Forwarding Co.,
3,763,490 RMB common shares 3,763,490
Ltd.
Foreign shares placed in
Hu Maohua 3,059,280 3,059,280
domestic exchange
Foreign shares placed in
Lu Weiqiang 2,888,848 2,888,848
domestic exchange
Foreign shares placed in
Chen Shukai 2,860,000 2,860,000
domestic exchange
Guangdong Communication Group Co., Ltd. is the parent company of
Guangdong Expressway Co., Ltd. and Xinyue Co., Ltd.. It is unknown
Notes to the related relationship between the shareholders whether there is relationship between other shareholders and whether
or their concerted action they are persons taking concerted action specified in the Regulations on
Disclosure of Information about Change in Shareholding of
Shareholders of Listed Companies.
Harbin Hali Industry Co., Ltd. holds 21,600,003 A shares of the
Company through stock account with credit transaction and guarantee
and holds 281,734 A shares through ordinary stock account. Li Zhuo
holds 11,386,503 A shares of the Company through stock account with
Notes to the shareholders involved in financing
credit transaction and guarantee and holds 43,580 A shares through
securities (if any)
ordinary stock account. Liu Feng holds 3,808,421 A shares of the
Company through stock account with credit transaction and guarantee
and holds 60,800 A shares through ordinary stock account.
Did any shareholder of the Company carry out an agreed buy-back in the reporting period?
□ Yes √ No
III Significant Events
I. Particular about large-margin change of main accounting statement item and financial index and its reason.
（I）Items of balance sheet as compared with the beginning of this year.
1.Monetary capital increased by RMB 240 million and 30.01% over the beginning of the year mainly due to net
cash inflow of RMB 561 million from operating activities, net cash outflow of RMB 219 million from investing
activities and net cash outflow of RMB 103 million from financing activities.
2.Tradable financial assets increased by RMB 15.60 million over the beginning of the year. The balance at
beginning of year was 0. The ending balance was mainly the balance of the parent company's new investment in
reverse-repurchase of national bonds in current period.
3.Accounts receivable increased by RMB 39.53 million and 179.22% 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.
4.Prepayments decreased by RMB 42.33 million and 89.76% over the beginning of the year mainly due to the
decrease of prepayment for projects with the acceptance and start of use of the expansion project of
Xiebian-Sanbao Section of Fokai Expressway.
5.Construction in progress decreased by RMB 138 billion and 80.39% over the beginning of the year mainly
because the overhaul work of Fokai Expressway was completed.
6.Disposal of fixed assets increased by RMB 157 million over the beginning of the year (the balance at beginning
of year was 0) mainly because the net value of fixed assets for which provision for depreciation was not
completely made and the net value of intangible assets whose amortization was not completed were transferred
into this item according to the government's requirement on the termination of toll collection of Jiujiang Bridge.
7. Intangible assets decreased by RMB 41.92 million and 92.20% over the beginning of the year mainly because
the land use right and operation right whose amortization was not completed were transferred for disposal
according to the government's requirement on termination of toll collection of Jiujiang Bridge.
8. Short-term loans decreased by RMB 330 million and 100% over the beginning of the year because all
short-term loans were repaid in current period.
9.Accounts payable decreased by RMB 315 million and 42.69% over the beginning of the year mainly due to
quickening of payment for projects and the decrease of balance of accounts payable for projects with the
acceptance and start of use of the expansion project of Xiebian-Sanbao Section of Fokai Expressway.
10. Taxies and levies payable decreased by RMB 29.75 million and 72.55% over the beginning of the year mainly
due to the decrease of income tax payable caused by the decrease of amount of taxable income of Guangdong
Fokai Expressway Co., Ltd., a controlled subsidiary of the Company.
11.Interest payable increased by RMB 41.87 million and 119.53% over the beginning of the year mainly because
the parent company made provision of RMB 50.92 million for the interest of unmatured medium term notes for
the first three quarters and repaid interest of RMB 10.20 million for the corporate bonds for which it made
provision at the beginning of year.
12.Non-current liabilities to become due within one year decreased by RMB 722 million and 54.80% over the
beginning of the year because Guangdong Fokai Expressway Co., Ltd. repaid long-term loan of RMB 983 million
to become due within one year in current period and a long-term loan of RMB 261 million was to become due
within one year and thus re-classified as the statement
13.Long-term loan increased by RMB 1275 million and 37.88% over the beginning of the year because the parent
company borrowed additional insurance funds of RMB 750 million and Guangdong Fokai Expressway Co., Ltd.
borrowed additional long-term loan of RMB 786 million was to become due within one year and thus re-classified
as non-current liabilities to become due within one year.
6
(II) Items of profit statement as compared with the same period of the previous year
1.Operating income increased by RMB 154.97 million and 18.71% year on year mainly due to the increase of toll
income caused by the adjustment of the charging standard of toll and increase of vehicle traffic volume after the
completion of the expansion project of Xiebian-Sanbao Section of Fokai Expressways.
2.Operating cost increased by RMB 233.40 million and 56.14% year on year mainly because fixed assets
increased by big margin after the construction in progress of the expansion project of Xiebian-Sanbao Section of
Fokai Expressway were transferred into fixed assets after its completion and provision for depreciation of fixed
assets were made on basis of vehicle traffic volume.
3.Financial expenses increased by RMB93.87 million and 41.19% year on year mainly due to the following
reasons: (1) The capitalization of the interests of relevant loans stopped in current period after the completion of
the expansion project of Xiebian-Sanbao Section of Fokai Expressway at the end of 2012 and all such interests
were accounted for as financial expenses; (2) The principal of debts incurring interest payment increased.
4.Asset impairment loss
No asset impairment loss occurred in current period. Bad debt loss of RMB 0.14 million occurred in the previous
period was written back.
5.Investment income decreased by RMB 9.86 million and 3.57% year on year mainly due to the comprehensive
influence concerning the following joint stock subsidiaries:
（1）The cash dividends distributed by Everbright Bank decreased by RMB 18 million over the previous period so
that investment income decreased accordingly.
（2）Due to special rectification of toll highways and the policy of no toll for small passenger cars with 7 seats or
fewer on holidays, the net profit of Jingzhu Expressway Guangzhu Section Co., Ltd. for the current period
decreased by RMB 74.04 million. The income from investment in this company decreased by RMB 14.80 million;
(3) Shenzhen Huiyan Expressway Co., Ltd. was affected by the special rectification of toll highways and the
policy of no toll for small passenger cars with 7 seats or fewer on holidays for the current period decreased by
RMB 15.57 million. The income from investment in this company decreased by RMB5.19 million;
（4）The income of Guangdong Guanghui Expressway Co., Ltd. increased due to the natural increase of vehicle
traffic volume. As a result, the net profit for the current period increased by RMB 32.93 million and investment
income increased by RMB 9.88 million;
（5）Due to increase of vehicle traffic volume, Ganzhou Gankang Expressway Co., Ltd. turned losses into profits
in current period. The net profit for the current period increased by RMB 26.06 million and investment income
increased by RMB 7.82 million;
（6）The income of Ganzhou Kangda Expressway Co., Ltd. increased apparently due to improvement of road
network and the start of use of Shaogan Expressway. The net profit for the current period increased by RMB
23.65 million and investment income increased by RMB 7.10 million.
6.Non-operating income decreased by RMB 3.61 million and 58.54% year on year mainly due to the decrease of
income from the disposal of non-current assets.
7.Non-operating expenses increased by RMB 0.4 million and 41.72% year on year mainly due to the increase of
loss on the disposal of non-current assets.
8.Income tax expenses decreased by RMB 31.90 million and 63.39% year on year mainly due to decrease of total
profit of Guangdong Fokai Expressway Co., Ltd.
9.The net profit for the owners of the parent company decreased by RMB 128.56 million and 57.02% year on year
due to the combined influence of the above factors.
(III) Notes of main items of cash flow statement
1.Cash received from sales of goods and rendering of services increased by RMB 149.69 million and 18.94% year
on year mainly due to the increase of toll income. This item mainly calculates the toll income received by
7
Guangfo Expressway Co., Ltd. and Guangdong Fokai Expressway Co., Ltd.
2. Other cash income related to operating activities
This item mainly calculates the net inflow, i.e., the difference between to-be-split cash toll income received
through liquidation accounts of Guangfo Expressway Co., Ltd. and Guangdong Fokai Expressway Co., Ltd. and
the split part transferred out, and other cash receipt including cash inflows from current accounts, rental income
from real estates for investment and other income from governmental subsidy except tax refund. This item
decreased by RMB 7.03 million and 16.05% year on year mainly due to the decrease of net cash inflow, i.e., the
difference between the to-be-split cash toll income received by Guangfo Expressway Co., Ltd. and split part
transferred out.
3.Cash paid for goods and services increased by RMB 13.95 million and 18.24% year on year mainly because the
payment for projects made by Guangdong Fokai Expressway Co., Ltd. and Guangfo Expressway Co., Ltd.
increased by RMB 16.59 million year on year. This item mainly calculates the payment for special works,
maintenance costs and networking paid service fees.
4.Taxes and levies paid
This item mainly calculates the income tax, business tax and surcharge actually paid in current period. Taxes and
levies paid increased by RMB 26.03 million and 51.71% year on year mainly because the income tax paid
retroactively by Guangdong Fokai Expressway Co., Ltd. after final settlement in 2012 increased by RMB 22.44
million year on year and the increase of income also caused the increase of paid business tax and surcharge.
5.Other cash payment related to operating activities increased by RMB 39.54 million and 63.38% year on year
mainly due to the year-on-year increase of project performance bond and bid bond repaid in current period caused
by the completion and start of use of the expansion project of Xiebian-Sanbao Section of Fokai Expressway at the
end of the previous year. This item mainly calculates cash outflows of current accounts, the expenses of engaging
intermediaries, office expenditure, rental charges and listing fee.
6. Cash received from investment recovery
This item mainly calculates the cash received from investment recovery. The amount of such cash for current
period was RMB 10.44 million while that for the previous period was 0. The cash received from the sales of part
of stocks of Everbright Bank in the secondary market.
7. Cash received from returns on investment
This item mainly calculates the cash dividends received by the Company for equity investment or the investment
income from assignment of investment. In current period, the Company received cash dividends of RMB 91.36
million, RMB 30 million, RMB 20.45 million and RMB 13.92 million respectively from Jingzhu Expressway
Guangzhu Section Co., Ltd., Guangdong Guanghui Expressway Co., Ltd., Zhaoqing Yuezhao Highway Co., Ltd.
and Everbright Bank. Cash received from returns on investment decreased by RMB 90.19 million and 36.16%
year on year mainly due to decrease of cash dividends received from joint stock subsidiaries in current period.
8. Net cash received from the disposal of fixed assets, intangible assets and other long-term assets
The amount of this item decreased by RMB 4.63 million and 97.46% year on year mainly due to the decrease of
income from the disposal of fixed assets in current period.
9. Cash paid for purchase or construction of fixed assets, intangible assets and other long-term assets
The amount of this item decreased by RMB 433.12 million and 53.75% year on year mainly due to the decrease
of payment for project by RMB 430.12 million in current period after the expansion project of Xiebian-Sanbao
Section of Fokai Expressway was completed and open to traffic at the end of the previous year.
10．Cash paid for investment
The amount for current period was RMB 15.60 million while the amount for the previous period was 0. The
amount for current period refers to the amount of cash outflow, realized by the principal of the investment made
by the parent company, through frequent reverse-repurchases of national bonds.
11. Cash received from absorption of investment
8
The amount of this item decreased by RMB 79.47 million and 77.21% year on year due to decrease of other
shareholders' investment received by Guangdong Fokai Expressway Co., Ltd. in current period with the
acceptance and start of use of the expansion project of Xiebian-Sanbao Section of Fokai Expressway.
12. Cash received from obtaining loans
The amount of this item decreased by RMB 447 million and 19.81% year on year. The amount of cash received
from obtaining loans was RMB 1.811 billion, including (1) the insurance fund loans of RMB 750 million received
by the parent company in current period; (2) external loans of RMB 911 million borrowed by Guangdong Fokai
Expressway Co., Ltd. in current period; (3) loans of RMB 150 million borrowed by Guangfo Expressway Co., Ltd.
from banks in current period.
13. Cash payment related to other financing activities
The amount of this item decreased by RMB 2.47 million and 45.16% year on year due to the year-on-year
decrease of underwriting fee paid for medium term notes.
II. The progress of significant events and influence, as well as the analysis and explanation on resolving proposal.
The Company published Announcement of Important Matters on June 26, 2013. Jiujiang Bridge of No. 325
National Highway, owned by Jiujiang Bridge Branch of Guangdong Fokai Expressway Co., Ltd., a controlled
subsidiary of the Company, ceased to collect toll from 24:00 of June 30, 2013. At present, the Company is still
negotiating with governmental departments including Guangdong State-owned Assets Commission in respect of
the issues relating to the termination of toll collection for Jiujiang Bridge. The influence of such termination on
the operating status and financial position of the Company will be appraised after relevant issues are settled. The
report of the Company for the third quarter of 2013 did not reflect the influence of the termination of toll
collection for Jiujiang Bridge on its operating status and financial position, to which investors are advised to pay
attention. to which investors are advised to pay attention.
III．Prediction of Business performance for 2013.
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
IV Investment in Securities
Notes to holding of the equity in other listed companies
√Applicable □ Not applicable
Name Type Initial investment Number of Shareholding Sharehol Book
cost(RMB) shares held at proportion at ding balance at
Number of
the beginning the beginning proporti the end of Gain/loss
shares held at
of the of the on at the the of the
the end of the Accounting Sauce of the
reporting reporting end of reporting reporting
reporting items shares
period(shares) period(%) the period period
period
reporting (RMB) (RMB)
(shares)
period(
%)
China Commercial 528,000,000.00 240,000,000 0.59% 235,254,944 0.58% 670,476,590 17,413,827 Financial
Subscribe on
Everbright Bank assets
9
Bank available for 2009
sale
Total 528,000,000.00 240,000,000 -- 235,254,944 -- 670,476,590 17,413,827 -- --
In the report period ,the Company received cash dividends of RMB 13,920,000.00 from Everbright Bank. It
accumulatively sold 4,745,056 shares of Everbright Bank and the amount of transaction was RMB 13,963,729.94.
The investment income was RMB 3,493,826.63. The gains and losses for the report period total RMB 17,413,827.
10
IV. Financial statement
1. Financial statement
1.Consolidated Balance sheet
Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Year-end balance
Items Year-beginning balance
Current asset：
Monetary fund 1,038,101,347.58 798,485,320.49
Settlement provision
Outgoing call loan
Trading financial assets 15,600,000.00
Bill receivable
Account receivable 61,587,935.78 22,057,103.81
Prepayments 4,831,090.32 47,164,329.75
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable
Dividend receivable 42,648,284.74 53,360,130.21
Other account receivable 30,664,802.69 37,105,814.51
Repurchasing of financial assets
Inventories
Non-current asset due in 1 year
Other current asset
Total of current assets 1,193,433,461.11 958,172,698.77
Non-current assets：
Loans and payment on other’s
behalf disbursed
Disposable financial asset 670,476,590.40 732,000,000.00
11
Expired investment in possess
Long-term receivable
Long term share equity
3,132,714,036.94 3,014,615,188.63
investment
Property investment 4,728,664.63 5,076,824.68
Fixed assets 7,859,834,005.44 8,219,979,715.32
Construction in progress 33,647,915.40 171,604,290.22
Engineering material
Fixed asset disposal 157,104,599.17
Production physical assets
Gas & petrol
Intangible assets 3,548,151.72 45,467,841.10
R & D petrol
Goodwill
Long-germ expenses to be
9,144,827.64 7,648,980.65
amortized
Differed income tax asset
Other non-current asset
Total of non-current assets 11,871,198,791.34 12,196,392,840.60
Total of assets 13,064,632,252.45 13,154,565,539.37
Current liabilities
Short-term loans 330,000,000.00
Loan from Central Bank
Deposit received and hold for
others
Call loan received
Trade off financial liabilities
Bill payable
Account payable 422,764,484.55 737,647,764.93
Advance payment 4,566,367.95 4,666,667.88
Selling of repurchased financial
assets
Fees and commissions receivable
Employees’ wage payable 2,663,758.25 2,342,361.32
Tax payable 11,253,619.11 40,999,608.03
12
Interest payable 76,902,979.97 35,031,191.54
Dividend payable 29,624,240.04 29,357,933.36
Other account payable 228,710,934.85 265,356,659.21
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1
595,234,853.54 1,317,036,103.54
year
Other current liability
Total of current liability 1,371,721,238.26 2,762,438,289.81
Non-current liabilities：
Long-term loan 4,641,254,950.00 3,366,083,700.00
Bond payable 1,795,068,822.91 1,793,186,155.19
Long-term payable 2,022,210.11 2,022,210.11
Special payable
Expected liabilities
Differed income tax liability 127,226,723.79 118,372,808.04
Other non-current liabilities
Total of non-current liabilities 6,565,572,706.81 5,279,664,873.34
Total of liability 7,937,293,945.07 8,042,103,163.15
Owners’ equity
Share capital 1,257,117,748.00 1,257,117,748.00
Capital reserves 1,687,674,429.17 1,738,758,715.57
Less：Shares in stock
Special reserve
Surplus reserves 204,691,882.55 204,691,882.55
Common risk provision
Undistributed profit 1,102,361,581.44 1,068,291,617.75
Different of foreign currency translation
Total of owner’s equity belong to the
4,251,845,641.16 4,268,859,963.87
parent company
Minor shareholders’ equity 875,492,666.22 843,602,412.35
13
Total of owners’ equity 5,127,338,307.38 5,112,462,376.22
Total of liabilities and owners’ equity 13,064,632,252.45 13,154,565,539.37
Legal representative ：Li Xiyuan
Person-in-charge of the accounting work：Xiao Laijiu
Person-in -charge of the accounting organ：Liu Xiaomei
2. Balance sheet of Parent Company
Guangdong Provincial Expressway Development Co., Ltd.
Unit：RMB
Items Year-end balance Year-beginning balance
Current asset：
Monetary fund 672,676,894.36 625,270,216.39
Trading financial assets 15,600,000.00
Bill receivable
Account receivable
Prepayments 2,628,579.99 1,250,000.00
Interest receivable 1,167,666.67 28,266.67
Dividend receivable 91,563,861.08 102,275,706.55
Other account receivable 8,384,008.64 4,944,777.18
Inventories
Non-current asset due in 1 year
Other current asset 675,000,000.00
Total of current assets 1,467,021,010.74 733,768,966.79
Non-current assets：
Disposable financial asset 670,476,590.40 732,000,000.00
Expired investment in possess
Long-term receivable
Long term share equity
5,551,150,606.46 5,331,873,758.15
investment
Property investment 4,476,526.38 4,824,686.43
Fixed assets 8,194,168.34 7,623,424.59
Construction in progress
14
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 104,000.00
R & D petrol
Goodwill
Long-germ expenses to be
6,336,864.22 7,477,499.83
amortized
Differed income tax asset
Other non-current asset 25,000,000.00 20,000,000.00
Total of non-current assets 6,265,738,755.80 6,103,799,369.00
Total of assets 7,732,759,766.54 6,837,568,335.79
Current liabilities
Short-term loans
Trade off financial liabilities
Bill payable
Account payable
Advance payment
Employees’ wage payable 398,571.09 204,400.17
Tax payable 1,023,192.82 1,211,396.44
Interest payable 69,687,777.70 27,734,652.73
Dividend payable 13,319,047.92 13,052,741.24
Other account payable 3,102,665.51 4,456,147.15
Non-current liability due in 1 year
Other current liability 299,279,248.53 158,166,691.43
Total of current liability 386,810,503.57 204,826,029.16
Non-current liabilities：
Long-term loan 1,500,000,000.00 750,000,000.00
Bond payable 1,795,068,822.91 1,793,186,155.19
Long-term payable 2,022,210.11 2,022,210.11
Special payable
Expected liabilities
Differed income tax liability
15
Other non-current liabilities
Total of Non-current liabilities 3,297,091,033.02 2,545,208,365.30
Total of liability 3,683,901,536.59 2,750,034,394.46
Owners’ equity
Share capital 1,257,117,748.00 1,257,117,748.00
Capital reserves 1,687,822,569.92 1,738,906,856.32
Less：Shares in stock
Special reserves
Surplus reserves 204,691,882.55 204,691,882.55
Provision of general risk
Undistributed profit 899,226,029.48 886,817,454.46
Different of foreign currency
translation
Total of owners’ equity 4,048,858,229.95 4,087,533,941.33
Total of liabilities and owners’
7,732,759,766.54 6,837,568,335.79
equity
Legal representative ：Li Xiyuan
Person-in-charge of the accounting work：Xiao Laijiu
Person-in -charge of the accounting organ：Liu Xiaomei
3. Profit statement（Consolidated）of the report period
Guangdong Provincial Expressway Development Co., Ltd.
Unit ：RMB
Items Amount in this period Amount in last period
I. Income from the key business 353,108,286.14 283,863,936.55
Incl：Business income 353,108,286.14 283,863,936.55
II. Total business cost 404,491,331.64 265,396,431.73
Incl：Business cost 245,743,464.82 139,705,831.46
Business tax and surcharge 13,274,403.49 10,486,850.47
Administrative expense 38,664,987.70 43,579,215.04
16
Financial expenses 106,808,475.63 71,624,534.76
Investment gain（“-”for loss） 95,608,846.19 80,525,538.01
Incl: investment gains from
92,079,584.54 80,525,538.02
affiliates
III. Operational profit（“-”for loss 44,225,800.69 98,993,042.83
Add：Non-business income 957,993.95 861,614.09
Less：Non business expenses 1,001,962.79 189,403.46
Including :Disposal loss of non-current
256,560.45
assets
IV. Total profit 44,181,831.85 99,665,253.46
Less：Income tax 2,826,351.66 17,729,346.50
V. Net profit 41,355,480.19 81,935,906.96
Net profit attributable to owner’s equity
39,313,953.56 68,005,779.73
of parent company
Minority shareholders’ gains and
2,041,526.63 13,930,127.23
losses
VI. Earnings per share： -- --
（I）Basic earnings per share 0.03 0.05
(II)Diluted earnings per share 0.03 0.05
VII. Other comprehensive income -12,684,286.40 -43,200,000.00
VIII. Total comprehensive income 28,671,193.79 38,735,906.96
Total comprehensive income
attributable to the owner of the parent 26,629,667.16 24,805,779.73
company
Total comprehensive income
2,041,526.63 13,930,127.23
attributable minority shareholders
Legal representative ：Li Xiyuan
Person-in-charge of the accounting work：Xiao Laijiu
Person-in -charge of the accounting organ：Liu Xiaomei
17
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 11,595,801.39 4,406,339.18
Less：Business cost 116,053.35 116,053.35
Business tax and surcharge 848,936.98 209,678.57
Administrative expense 20,782,113.53 26,060,235.66
Financial expenses 50,780,835.26 32,441,581.40
Investment gain（“-”for loss） 95,608,846.19 80,525,538.02
Incl: investment gains from
92,079,584.54 80,525,538.02
affiliates
II. Operational profit 34,676,708.46 26,104,328.22
Less：Non business expenses 2,034.06
Incl：Loss from disposal of
non-current assets
III.Total profit 34,674,674.40 26,104,328.22
IV. Net profit 34,674,674.40 26,104,328.22
V. Earnings per share -- --
（I）Basic earnings per share 0.03 0.02
(II)Diluted earnings per share 0.03 0.02
VII. Other comprehensive income -12,684,286.40 -43,200,000.00
VIII. Total comprehensive income 21,990,388.00 -17,095,671.78
Legal representative ：Li Xiyuan
Person-in-charge of the accounting work：Xiao Laijiu
Person-in -charge of the accounting organ：Liu Xiaomei
18
5. Consolidated Profit statement 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 983,083,874.32 828,113,102.52
Including：Operating income 983,083,874.32 828,113,102.52
Interest income
Insurance gained
Commission charge and commission
income
II. Total operating cost 1,127,145,870.64 795,347,164.36
Including：Operating cost 649,179,025.46 415,778,263.53
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 36,235,040.26 30,613,396.38
Sales expenses
Administration expenses 119,971,267.17 121,211,692.06
Financial expenses 321,760,537.75 227,886,188.77
Losses of devaluation of assets -142,376.38
Add ：Changing income of fair value
Investment income 266,645,729.15 276,505,425.97
Including：Investment income on
249,196,467.50 244,585,425.98
affiliate company and joint venture
Exchange income
III. Operating profit 122,583,732.83 309,271,364.13
19
Add ：Non-operating income 2,554,061.39 6,160,108.66
Less：Non-operating expense 1,363,107.00 961,803.27
Including :Disposal loss of non-current
493,846.92 183,643.81
assets
IV. Total profit 123,774,687.22 314,469,669.52
Less：Income tax 18,420,682.26 50,319,873.91
V. Net profit（“-”for net loss 105,354,004.96 264,149,795.61
Including: Net profit realized by the
entity taken over before the takeover
Net profit attributable to the
96,925,851.09 225,489,377.62
owners of parent company
Minority shareholders’ equity 8,428,153.87 38,660,417.99
VI. Earnings per share： -- --
（I）Basic earnings per share 0.08 0.18
(II)Diluted earnings per share 0.08 0.18
VII. Other comprehensive income -51,084,286.40 -52,800,000.00
VIII. Total comprehensive income 54,269,718.56 211,349,795.61
Total comprehensive income
attributable to the owner of the parent 45,841,564.69 172,689,377.62
company
Total comprehensive income
8,428,153.87 38,660,417.99
attributable minority shareholders
Legal representative ：Li Xiyuan
Person-in-charge of the accounting work：Xiao Laijiu
Person-in -charge of the accounting organ：Liu Xiaomei
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
20
I. Business income 21,716,152.52 9,019,146.26
Less：Business cost 348,160.05 348,160.05
Business tax and surcharge 1,423,740.58 471,393.55
Sales expense
Administrative expense 66,291,624.42 67,012,246.01
Financial expenses 144,825,129.76 107,707,984.38
Asset impairment loss
Add：Gains from change of fir
value （“-”for loss）
Investment gain（“-”for loss） 266,645,729.15 300,873,606.31
Incl: investment gains from
249,196,467.50 244,585,425.98
affiliates
II. Operational profit 75,473,226.86 134,352,968.58
Add：Non-business income
Less：Non business expenses 208,764.44 1.90
Incl：Loss from disposal of
206,432.52
non-current assets
III.Total profit 75,264,462.42 134,352,966.68
Less：Income tax expenses
IV. Net profit 75,264,462.42 134,352,966.68
V. Earnings per share -- --
（I）Basic earnings per share 0.06 0.11
(II)Diluted earnings per share 0.06 0.11
VII. Other comprehensive income -51,084,286.40 -52,800,000.00
VIII. Total comprehensive income 24,180,176.02 81,552,966.68
Legal representative ：Li Xiyuan
Person-in-charge of the accounting work：Xiao Laijiu
Person-in -charge of the accounting organ：Liu Xiaomei
21
7. Consolidated Cash flow statement 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
940,248,482.10 790,555,585.24
or 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
Other cash received from business
36,788,855.13 43,821,050.66
operation
Sub-total of cash inflow 977,037,337.23 834,376,635.90
Cash paid for purchasing of
90,396,673.81 76,451,149.68
merchandise and services
Net increase of client trade and
advance
22
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
147,425,834.16 132,932,547.89
staffs
Taxes paid 76,361,635.98 50,335,601.37
Other cash paid for business
101,931,441.70 62,388,490.95
activities
Sub-total of cash outflow from
416,115,585.65 322,107,789.89
business activities
Cash flow generated by
560,921,751.58 512,268,846.01
business operation, net
II.Cash flow generated by
investing
Cash received from investment
109,839,123.20
retrieving
Cash received as investment
159,261,804.31 249,460,576.39
gains
Net cash retrieved from disposal
of fixed assets, intangible assets, 120,631.00 4,754,729.60
and 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
269,221,558.51 254,215,305.99
investment activities
Cash paid for construction of
fixed assets, intangible assets 372,735,781.02 805,851,971.46
and other long-term assets
Cash paid as investment 115,003,078.00
Net increase of loan against
pledge
23
Net cash received from
subsidiaries and other operational
units
Other cash paid for investment
activities
Sub-total of cash outflow due to
487,738,859.02 805,851,971.46
investment activities
Net cash flow generated by
-218,517,300.51 -551,636,665.47
investment
III.Cash flow generated by
financing
Cash received as investment 23,462,100.00 102,935,000.00
Incl: Cash received as
investment from minor
shareholders
Cash received as loans 1,811,300,000.00 2,258,690,000.00
Cash received from bond
placing
Other financing –related ash
received
Sub-total of cash inflow from
1,834,762,100.00 2,361,625,000.00
financing activities
Cash to repay debts 1,587,930,000.00 1,583,035,000.00
Cash paid as dividend, profit, or
346,857,038.20 347,926,625.44
interests
Incl: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing
3,000,000.00 5,470,000.00
activities
Sub-total of cash outflow due to
1,937,787,038.20 1,936,431,625.44
financing activities
Net cash flow generated by
-103,024,938.20 425,193,374.56
financing
IV. Influence of exchange rate
alternation on cash and cash 236,514.22 -190,644.75
equivalents
V.Net increase of cash and cash
239,616,027.09 385,634,910.35
equivalents
24
Add: balance of cash and cash
equivalents at the beginning of 798,485,320.49 1,018,999,531.05
term
VI ..Balance of cash and cash
1,038,101,347.58 1,404,634,441.40
equivalents at the end of term
Legal representative ：Li Xiyuan
Person-in-charge of the accounting work：Xiao Laijiu
Person-in -charge of the accounting organ：Liu Xiaomei
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
3,941,760.47 976,776.22
rending of services
Tax returned
Other cash received from business
147,152,851.64 99,479,347.89
operation
Sub-total of cash inflow 151,094,612.11 100,456,124.11
Cash paid for purchasing of
merchandise and services
Cash paid to staffs or paid for
36,404,755.08 36,679,346.68
staffs
Taxes paid 1,150,303.40 688,359.37
Other cash paid for business
33,708,129.85 35,253,552.01
activities
Sub-total of cash outflow from
71,263,188.33 72,621,258.06
business activities
Cash flow generated by
79,831,423.78 27,834,866.05
business operation, net
II.Cash flow generated by
investing
25
Cash received from investment
109,839,123.20
retrieving
Cash received as investment
159,261,804.31 273,828,756.72
gains
Net cash retrieved from disposal
of fixed assets, intangible assets, 13,000.00
and other long-term assets
Net cash received from disposal
of subsidiaries or other
operational units
Other investment-related cash
16,480,288.90 164,972,427.76
received
Sub-total of cash inflow due to
285,594,216.41 438,801,184.48
investment activities
Cash paid for construction of
fixed assets, intangible assets 3,720,425.06 1,756,912.80
and other long-term assets
Cash paid as investment 216,181,078.00 255,000,000.00
Net cash received from
subsidiaries and other operational
units
Other cash paid for investment
680,000,000.00 10,000,000.00
activities
Sub-total of cash outflow due to
899,901,503.06 266,756,912.80
investment activities
Net cash flow generated by
-614,307,286.65 172,044,271.68
investment
III.Cash flow generated by
financing
Cash received as investment
Cash received as loans 750,000,000.00 1,065,990,000.00
Cash received from bond
placing
Other financing –related ash
received
Sub-total of cash inflow from
750,000,000.00 1,065,990,000.00
financing activities
Cash to repay debts 682,490,000.00
26
Cash paid as dividend, profit, or
165,353,973.38 130,635,071.42
interests
Other cash paid for financing
3,000,000.00 5,470,000.00
activities
Sub-total of cash outflow due to
168,353,973.38 818,595,071.42
financing activities
Net cash flow generated by
581,646,026.62 247,394,928.58
financing
IV. Influence of exchange rate
alternation on cash and cash 236,514.22 -190,644.75
equivalents
V.Net increase of cash and cash
47,406,677.97 447,083,421.56
equivalents
Add: balance of cash and cash
equivalents at the beginning of 625,270,216.39 701,899,352.28
term
VI ..Balance of cash and cash
672,676,894.36 1,148,982,773.84
equivalents at the end of term
Legal representative ：Li Xiyuan
Person-in-charge of the accounting work：Xiao Laijiu
Person-in -charge of the accounting organ：Liu Xiaomei
II. Auditor’ report
Whether the third quarterly report had been audited or not
□ Yes √ No
The third quarterly report 2013 which not audited.
27
