Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Guangdong Provincial Expressway Development Co.，Ltd.
The Third Quarterly Report 2019
October 2019
1
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
I. Important Notice
The Board of Directors and the Supervisory Committee of the Company and its directors, supervisors and senior
executives should guarantee the reality, accuracy and completion of the quarterly report, there are no any fictitious
statements, misleading statements or important omissions carried in this report, and shall take legal
responsibilities, individual and or joint.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Mr.Zheng Renfa, Leader, Mr.Wang Chunhua, General Manager, Mr. Fang Zhi, Chief of the accounting work,Ms
Zhou Fang, Chief of the accounting organ (chief of accounting ) hereby confirm the authenticity and completeness
of the financial report enclosed in this report.
II. Basic Information of the Company
（1）Main financial data and financial index
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
√ Yes □No
Reasons for retrospective restatements:
Accounting policy change
Changes of this
period over same
Same period of last year
This period period of last year
（％）
Before adjustment After adjustment After adjustment
Gross assets（Yuan） 16,977,369,289.08 16,295,910,774.45 16,295,910,774.45 4.18%
Net assets attributable to the
shareholders of the listed 9,588,602,867.94 9,586,701,904.06 9,586,701,904.06 0.02%
company（Yuan）
Between beginning
Increase/decrease
of the year to the Changed （%）over
Reporting period over the same period
end of the report end of prev. year
of last year（%）
period
Operating revenue (Yuan） 796,831,081.45 -6.34% 2,280,504,326.66 -4.45%
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Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Net profit attributable to the
shareholders of the listed 371,244,455.76 -15.88% 1,107,730,568.06 -9.23%
company（Yuan）
Net profit after deducting of
non-recurring gain/loss
372,502,498.79 -12.80% 1,097,541,533.87 -7.00%
attributable to the shareholders
of listed company（Yuan）
Cash flow generated by business
-- -- 1,634,783,603.99 13.60%
operation, net（Yuan）
Basic earning per
0.18 -14.29% 0.53 -8.62%
share(RMB/Share)
Diluted gains per
0.18 -14.29% 0.53 -8.62%
share(Yuan/Share)
Weighted average income/asset
3.95% -0.96% 11.48% -2.02%
ratio（%）
The reasons for the change of Accounting Policy and the Correction of Accounting errors
On April 30, 2019, the Notice of the Ministry of Finance on Revising and Issuing the Format of Financial
Statements of General Enterprises (No. 6 Finance and Accounting [2019]) issued by the Ministry of Finance
adjusts the format of financial statements of enterprises accordingly, and regulates that the detailed items of
"management expenses" and "R&D expenses" should be separated from the items of "management expenses" in
the profit statement; it also indicates that the actual government subsidies received should be listed in the item
"cash received from other business activities". In response to such change of accounting policy, the Company
adopts the retroactive adjustment method to retroactively adjust the items reported in the financial statements from
January to September in 2018.
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount (Year-beginning to
Items the end of the report Notes
period.)
Mainly due to the transfer of in
tellectual property income relat
Non-current asset disposal gain/loss(including the write-off part
10,469,562.85 ed to“Blue Channel”by Guan
for which assets impairment provision is made)
gdong Expressway Technology
Investment Co., Ltd.
Govemment subsidies recognized in current gain and
loss(excluding those closely related to the Company’s business 1,146,092.93
and granted under the state’s policies)
Other non-business income and expenditures other than the -84,324.89
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Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Amount (Year-beginning to
Items the end of the report Notes
period.)
above
Less: Amount of influence of income tax 1,771,748.41
Amount of influence of minority interests(after tax) -429,451.71
Total 10,189,034.19 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the
Public-Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item.
□ Applicable √Not applicable
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
II.Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered
and the Shares Held by Top Ten Common Shareholders
In shares
Total preference
shareholders with the voting
Total number of common
56,063 power recovered at the end 0
shareholders at the period-end
of the reporting period(if
any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
tradable shares
Shareholder Properties of Share
Quantity with Status of the
name shareholder proportion % Quantity
Conditional shares
held
Guangdong
Communicatio State-owned
24.56% 513,412,507 410,032,765
n Group Co., legal person
Ltd.
Guangdong
Highway State-owned
22.30% 466,325,020
Construction legal person
Co., Ltd,
Yadong Fuxing Domestic non
9.68% 202,429,149
Yalian State-own
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Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Investment Co., ed
Ltd. Legal person
Tibet Yingyue
Investment State-owned
4.84% 101,214,574
Management legal person
Co., Ltd.
Guangdong
State-owned
Expressway 2.53% 52,937,491 19,582,228
legal person
Co., Ltd.
Guangfa
State-owned
Securities Co., 1.45% 30,364,372
legal person
Ltd.
China Life
Insurance Co.,
Ltd.－Dividend
－Personal Other 1.26% 26,372,664
dividend
-005L-FH002
Shen
China Life
Insurance Co.,
Ltd.－
Traditional－
Other 1.17% 24,436,318
Common
insurance
products-005L-
CT001Shen
Agricultural
Bank of China
－Jingshun
Great Wall
Energy
Other 0.95% 19,909,303
Infrastructure
Mixed
Securities
Investment
Fund
Domestic
Feng Wuchu natural person 0.94% 19,664,788
shares
Shares held by the Top 10 Shareholders of Non-restricted shares
5
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Share type
Shareholders’ Names Number of the non-restricted shares held
Share type Quantity
Guangdong Highway RMB Common
466,325,020 466,325,020
Construction Co., Ltd, shares
Yadong Fuxing Yalian Investment RMB Common
202,429,149 202,429,149
Co., Ltd. shares
Guangdong Communication RMB Common
103,379,742 103,379,742
Group Co., Ltd. shares
Tibet Yingyue Investment RMB Common
101,214,574 101,214,574
Management Co., Ltd. shares
RMB Common
Guangdong Expressway Co., Ltd. 33,355,263 33,355,263
shares
RMB Common
Guangfa Securities Co., Ltd. 30,364,372 30,364,372
shares
China Life Insurance Co., Ltd.－
RMB Common
Dividend －Personal dividend 26,372,664 26,372,664
shares
-005L-FH002 Shen
China Life Insurance Co., Ltd.－
RMB Common
Traditional－Common insurance 24,436,318 24,436,318
shares
products-005L-CT001Shen
Agricultural Bank of China－
Jingshun Great Wall Energy RMB Common
19,909,303 19,909,303
Infrastructure Mixed Securities shares
Investment Fund
RMB Common
17,564,325
shares
Foreign shares
Feng Wuchu 19,664,788
placed in
2,100,463
domestic
exchange
Guangdong Communication Group Co., Ltd. is the parent company of Guangdong
Explanation on associated Highway Construction Co., Ltd.and Guangdong Expressway Co., Ltd. It is unknown
relationship or concerted action of whether there is relationship between other shareholders and whether they are persons
the above shareholders taking concerted action specified in the Regulations on Disclosure of Information about
Change in Shareholding of Shareholders of Listed Companies.
Participation of top 10
unconditional common share
Nil
shareholders in securities margin
trading (if any)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a
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Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
buy-back agreement dealing in reporting period.
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the
report period
□ Applicable √Not applicable
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Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
III Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting period, as well as
reasons for the changes
√ Applicable □ Not applicable
（I）Items of balance sheet as compared with the same period of the previous year
1.Advance payment increased by 15.81 million yuan and 826.56% over the beginning of the year, Mainly due to
the prepayment cancelation of the provincial toll station project payment by Guangdong Expressway Technology
Investment Co., Ltd.
2.Dividend receivable increased by 9.38 million yuan and 778.41% over the beginning of the year, Mainly due to
the newly added cash dividends receivable of Ganzhou Kangda Expressway Co., Ltd in this reporting period.
3.Other non-current assets increased by 38.98 million yuan and 39.06% over the beginning of the year, Mainly
due to the increase in the amount of deductable input taxes and the prepaid project payment of Sanbao to Shuikou
section of Fokai Expressway.
4. Item received in advance increased by 5.92 million yuan and 49.19% over the beginning of the year, Mainly
due to the procurement payment of the electronic toll collection system (ETC) received in advance by Guangdong
Expressway Technology Investment Co., Ltd.
5.Interest payable increased by 16.36 million yuan and 182.31% over the beginning of the year, Mainly due to the
increase in interest on the medium-term notes accrued by the Company ； Other account payable increased by
127.54 million yuan and 77.25% over the beginning of the year, Mainly due to the increase in one-year entrusted
loans borrowed by the Company from Guangdong Guanghui Expressway Co., Ltd.
6. Non-current liabilities due 1 year decreased by1819.13 million yuan and 72.81% over the beginning of the year,
Mainly due to the comprehensive impact of the Company's repayment of maturity loans and the long-term
borrowings reclassified to the subject.
7.Long-term borrowing increased by 1746.82 million yuan and 58.56% over the beginning of the year, Mainly due
to the combined impact by the Company's new loans, advanced repayment of loans and the reclassified into non-current
liabilities due within one year.
8.Bonds payable increased by 678.01 million yuan over the beginning of the year, Mainly due to the book value of
the 5-year medium-term notes issued by the Company with a face value of 680 million yuan as determined by the
effective interest method.
(II) Items of income statement as compared with the same period of the previous year
1.Operating income decreased by RMB 106.13 million and 4.45 % year on year, Mainly due to the following
factors: The main line of Foshan First Ring Road, Yunzhan Expressway and Gao'en Expressway are open to traffic,
and the traffic flow of the Fokai Expressway is diverted, which reduces the toll revenue of Fokai Expressway;
affected by the comprehensive impact of the restriction on the passage of more than 40-seats buses, the traffic
flow diverted due to the opening of the Nansha Bridge and the first phase of the Fanguan Expressway, the toll
revenue of the Beijing-Zhuhai Expressway Guangzhu Section decreased; due to the natural increase in traffic
volume and the traffic volume increase caused by the closure of some sections of Foshan First Ring Road for
reconstruction, the Guangfo Expressway toll revenue increased slightly.
2.R & D expenses decreased by RMB 3.03 million and 100% year on year, Mainly due to the company did not
have R&D expenditures this year.
3.The Assets disposal income decreased by 53.24 million yuan and 80.22% year on year,Mainly due to the
comprehensive impact of the disposal income of the 4.213 km expressway asset repurchased by the Zhuhai
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Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
High-tech Zone Management Committee recognized by Beijing-Zhuhai Expressway Guangzhu Section Co., Ltd
during the same period last year and the disposal income of the “Blue Channel” assets recognized in this period by
Guangdong Expressway Technology Investment Co., Ltd.
(III) Notes of main items of cash flow statement
1. Taxes paid
Mainly due to calculate the income tax, value-added tax and its additional taxes and fees actually paid in the
current period. The current period decreased by 349.85 million yuan and 53.01% year on year，Mainly due to in
the same period last year, Guangdong Fokai Expressway Co., Ltd (deregistered) paid the assessed value-added
income tax, and there was no such situation in the current period.
2.Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets decreased by
214.22 million yuan and 93.88% year on year, Mainly due to in the same period last year, Jingzhu Expressway
Guangzhu Section Co., Ltd. received the compensation for the 4.213 km expressway asset of the Zhuhai section
of the Guang'ao Expressway transferred from the Zhuhai High-tech Zone Management Committee. and there was
no such situation in the current period. Guangdong Expressway Technology Investment Co., Ltd received the
funds from the transfer of the related intellectual property assets group of the “Blue Channel”.
3. Cash received from borrowing increased by RMB 2497.70 million and 198.39% year on year, The reason
was that the parent company's borrowing increased in the current period
4. Cash to repay debts increased by RMB1526.52 million and 102.62% year on year, The reason was that the
parent company's borrowing increased in the current period
II. The progress of significant events and influence, as well as the analysis and explanation on resolving
proposal.
□ Applicable √ Not applicable
Progress in the implementation of share repurchase
□ Applicable √ Not applicable
Progress in the implementation of the reduction of the repurchased shares by means of centralized bidding
□ Applicable √ Not applicable
III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,
directors, supervisors, senior executives or other related parties in the reporting period and commitments
unfinished in implementation at the end of the reporting period
□ Applicable √ Not applicable
The company has no commitments completed in period and those without completed till lend of the period from
actual controller, shareholders, related parties, purchaser and companies.
9
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
IV. Investment in securities
√ Applicable □Not applicable
In RMB
Purchase
Securi Book value Changes in Sale Book value
Stock Initial Mode of Cumulative fair amount Gain/loss of
ty Security balance at the fair value of amount balance at the Accountin Source of
Abbreviatio investmen accounting value changes in in the the reporting
categ code beginning of the the this in the this end of the g items the shares
n: t cost measurement equity this period
ory reporting period period period reporting period
period
Dome
Investmen
stic
China t in other
and 517,560,8
601818 Everbright FVM 870,443,292.80 409,343,602.56 37,876,045.98 926,904,479.36 equity Self fund
foreig 76.80
Bank instrumen
n
ts
stocks
517,560,8
Total -- 870,443,292.80 0.00 409,343,602.56 0.00 0.00 37,876,045.98 926,904,479.36 -- --
76.80
Disclosure date for the notice of
July 22,2009
approval by the Board (If any)
Disclosure date for the notice of
approval by shareholders’ August 7,2009
Meeting (If any)
10
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
V. Entrusted Financial Management
□ Applicable √Not applicable
There is no Entrusted Financial Management during the report period.
VI. Investment in derivatives
□ Applicable √Not applicable
There is no derivative investment during the report period.
VII. The registration form of acceptance of investigation, communication and interview in the report
period for future reference
√ Applicable □ Not applicable
Reception time Way of reception Types of visitors Basic index
1. The main content of research:1. the daily
operation; 2. the company's financial data
July 9,2019 Onsite investigation Organization analysis;3. development strategy; 4. analysis
on the industry. 2.Primary data investigation:
Public information company regularly reports
1. The main content of research:1. the daily
operation; 2. the company's financial data
August 30,2019 By phone Organization analysis;3. development strategy; 4. analysis
on the industry. 2.Primary data investigation:
Public information company regularly reports
VIII. External guarantee get out of line
□ Applicable √Not applicable
The Company has no external guarantee get out of the line in the Period
IX. Controlling shareholder and its related parties occupying non-business capital of the listed company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company
in Period
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Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by：Guangdong Provincial Expressway Development Co., Ltd.
September 30,2019
In RMB
Items September 30,2019 December 31,2018
Current asset：
Monetary fund 2,608,107,818.50 2,124,524,996.32
Settlement provision
Outgoing call loan
Transactional financial assets
Financial assets measured at fair
value with variations accounted into
current income account
Derivative financial assets
Notes receivable
Account receivable 94,364,130.30 91,076,995.07
Financing of receivables
Prepayments 17,724,649.63 1,912,943.40
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Other account receivable 28,981,121.30 16,487,256.02
Including：Interest receivable
Dividend receivable 10,589,003.82 1,205,472.90
Other receivable 18,392,117.48 15,281,783.12
Repurchasing of financial assets
Inventories 110,142.49 81,017.91
Contract assets
Assets held for sales
Non-current asset due within 1 year 51,745.32 51,745.32
Other current asset
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Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items September 30,2019 December 31,2018
Total of current assets 2,749,339,607.54 2,234,134,954.04
Non-current assets：
Loans and payment on other’s behalf
disbursed
Debt investment
Available for sale of financial assets 1,668,791,594.53
Other investment on bonds
Expired investment in possess
Long-term receivable
Long term share equity investment 3,308,550,142.93 3,145,644,970.07
Other equity instruments investment 1,725,252,781.09
Other non-current financial assets
Property investment 3,386,779.99 3,579,007.54
Fixed assets 7,736,561,699.25 7,600,046,319.91
Including：Fixed assets 7,736,550,560.39 7,600,046,319.91
Liquidation of fixed assets 11,138.86
Construction in progress 927,486,048.46 1,089,473,425.63
Including： Construction in
925,936,492.46 1,087,923,869.63
progress
Engineering Materials 1,549,556.00 1,549,556.00
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 4,275,730.21 5,739,020.48
Development expenses
Goodwill
Long-germ expenses to be amortized 1,168,273.16 1,221,781.88
Deferred income tax asset 382,568,788.55 447,485,034.79
Other non-current asset 138,779,437.90 99,794,665.58
Total of non-current assets 14,228,029,681.54 14,061,775,820.41
Total of assets 16,977,369,289.08 16,295,910,774.45
Current liabilities
Short-term loans
Loan from Central Bank
13
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items September 30,2019 December 31,2018
Borrowing funds
Transactional financial liabilities
Financial liabilities measured at fair
value with variations accounted into
current income account
Derivative financial liabilities
Notes payable
Account payable 175,782,922.78 203,779,190.74
Advance receipts 17,962,010.45 12,039,708.01
Contract Liabilities
Selling of repurchased financial
assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 13,904,082.42 13,122,437.17
Tax payable 108,133,060.11 104,198,746.06
Other account payable 337,976,604.89 191,254,464.84
Including：Interest payable 25,328,104.93 8,971,576.57
Dividend payable 20,020,119.31 17,191,142.23
Other account payable 292,628,380.65 165,091,746.04
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1
679,355,000.00 2,498,480,000.00
year
Other current liability
Total of current liability 1,333,113,680.65 3,022,874,546.82
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 4,729,862,500.00 2,983,040,000.00
Bond payable 678,013,637.73
Including：preferred stock
Sustainable debt
14
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items September 30,2019 December 31,2018
Lease liability
Long-term payable 39,625,983.68 38,022,210.11
Including：Long-term payable 39,625,983.68 38,022,210.11
Special payable
Long-term remuneration payable to
staff
Expected liabilities
Deferred income
Deferred income tax liability 205,807,094.55 205,672,389.59
Other non-current liabilities
Total non-current liabilities 5,653,309,215.96 3,226,734,599.70
Total of liability 6,986,422,896.61 6,249,609,146.52
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 2,562,570,465.31 2,536,774,965.31
Less：Shares in stock
Other comprehensive income 299,870,466.92 245,109,114.81
Special reserve
Surplus reserves 775,402,561.35 775,402,561.35
Common risk provision
Retained profit 3,859,953,248.36 3,938,609,136.59
Total of owner’s equity belong to the
9,588,602,867.94 9,586,701,904.06
parent company
Minority shareholders’ equity 402,343,524.53 459,599,723.87
Total of owners’ equity 9,990,946,392.47 10,046,301,627.93
Total of liabilities and owners’ equity 16,977,369,289.08 16,295,910,774.45
Legal Representative:Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
15
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Person-in -charge of the accounting organ：Zhou Fang
16
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
2.Parent Company Balance Sheet
In RMB
Items September 30,2019 December 31,2018
Current asset：
Monetary fund 2,541,791,378.47 2,096,597,568.04
Transactional financial assets
Financial assets measured at fair
value with variations accounted into
current income account
Derivative financial assets
Notes receivable
Account receivable 18,899,568.06 18,405,847.15
Financing of receivables
Prepayments 15,354,534.88 1,532,057.82
Other account receivable 64,704,913.38 9,323,782.66
Including：Interest receivable 47,999,930.18 1,880,148.12
Dividend receivable 10,589,003.82 1,205,472.90
Other receivable 6,115,979.38 6,238,161.64
Inventories
Contract assets
Assets held for sales
Non-current asset due within 1 year 100,000,000.00 100,000,000.00
Other current asset
Total of current assets 2,740,750,394.79 2,225,859,255.67
Non-current assets：
Debt investment 687,903,684.98
Available for sale of financial assets 1,668,791,594.53
Other investment on bonds
Expired investment in possess
Long-term receivable
Long term share equity investment 4,842,215,151.74 4,679,309,978.88
Other equity instruments investment 1,725,252,781.09
Other non-current financial assets
Property investment 3,134,641.74 3,326,869.29
17
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items September 30,2019 December 31,2018
Fixed assets 5,579,284,393.38 5,292,898,635.00
Including：Fixed assets 5,579,284,393.38 5,292,898,635.00
Liquidation of fixed assets
Construction in progress 917,225,296.18 1,060,230,773.10
Including： Construction in progress 917,225,296.18 1,060,230,773.10
Engineering material
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 1,311,756.15 1,741,277.53
Development expenses
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset 382,463,329.68 447,328,530.77
Other non-current asset 97,761,670.41 790,720,727.48
Total of non-current assets 14,236,552,705.35 13,944,348,386.58
Total of assets 16,977,303,100.14 16,170,207,642.25
Current liabilities
Short-term loans
Transactional financial liabilities
Financial liabilities measured at fair
value with variations accounted into
current income account
Derivative financial liabilities
Notes payable
Account payable 137,975,484.46 124,833,335.72
Advance receipts
Contract Liabilities
Employees’ wage payable 5,291,187.31 5,669,203.37
Tax payable 7,890,788.11 10,297,144.52
Other account payable 296,570,159.17 142,457,135.79
Including：Interest payable 24,809,482.80 8,373,096.36
Dividend payable 20,020,119.31 17,191,142.23
Other account payable 251,740,557.06 116,892,897.20
18
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items September 30,2019 December 31,2018
Liabilities held for sales
Non-current liability due within 1
628,685,000.00 2,327,180,000.00
year
Other current liability 848,827,738.16 977,236,252.44
Total of current liability 1,925,240,357.21 3,587,673,071.84
Non-current liabilities：
Long-term loan 4,333,167,500.00 2,731,990,000.00
Bond payable 678,013,637.73
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 39,625,983.68 38,022,210.11
Including：Long-term payable 39,625,983.68 38,022,210.11
Special payable
Long-term remuneration payable to
staff
Expected liabilities
Deferred income
Deferred income tax liability 102,335,900.64 88,220,604.00
Other non-current liabilities
Total non-current liabilities 5,153,143,022.05 2,858,232,814.11
Total of liability 7,078,383,379.26 6,445,905,885.95
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 2,974,458,696.93 2,948,663,196.93
Less：Shares in stock
Other comprehensive income 299,870,466.92 245,109,114.81
Special reserve
Surplus reserves 759,558,277.70 759,558,277.70
Retained profit 3,774,226,153.33 3,680,165,040.86
Total of owners’ equity 9,898,919,720.88 9,724,301,756.30
19
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items September 30,2019 December 31,2018
Total of liabilities and owners’ equity 16,977,303,100.14 16,170,207,642.25
Legal Representative:Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
3.Consolidated Income statement of the Report period
In RMB
Items Amount in this period Amount in last period
I. Turnover 796,831,081.45 850,769,743.92
Including: Operating income 796,831,081.45 850,769,743.92
Interest income
Insurance fee earned
Fee and commission received
II. Total operating costs 408,683,513.05 376,040,471.71
Including ：Operating costs 310,517,119.58 283,488,989.77
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Appropriation of deposit for duty, net
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 3,696,459.38 3,887,775.99
Sales expense
Administrative expense 40,415,600.33 32,160,291.46
R & D expense 541,264.57
Financial expenses 54,054,333.76 55,962,149.92
Including ：Interest expense 58,646,545.15 59,606,588.17
Interest income 5,500,733.79 4,644,969.74
Add：Other income 725,865.31 194,598.16
20
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
Investment gain（“-”for loss） 139,449,983.30 134,304,872.05
Including: investment gains from
139,066,452.38 134,304,872.05
affiliates
Financial assets measured at
amortized cost cease to be recognized
as income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
Credit impairment loss
Impairment loss of assets 1,815,828.92
Assets disposal income 21,509,712.51
III. Operating profit（“-”for loss） 528,323,417.01 632,554,283.85
Add ：Non-operating income 1,237,352.91 571,258.42
Less: Non-operating expenses 485,161.05 137,992.92
IV. Total profit(“-”for loss) 529,075,608.87 632,987,549.35
Less：Income tax expenses 98,800,338.73 123,881,985.59
V. Net profit 430,275,270.14 509,105,563.76
(I) Classification by business
continuity
1.Net continuing operating profit 430,275,270.14 509,105,563.76
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners
371,244,455.76 441,303,002.76
of parent company
2.Minority shareholders’ equity 59,030,814.38 67,802,561.00
VI. Net after-tax of other
24,758,918.08 42,627,645.56
comprehensive income
Net of profit of other comprehensive in
24,758,918.08 42,627,645.56
come attributable to owners of the pare
nt company.
（I）Other comprehensive income
items that will not be reclassified into
22,937,357.04
gains/losses in the subsequent
accounting period
21
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
2.Other comprehensive income under t
he equity method investee can not be re
classified into profit or loss.
3. Changes in the fair value of
22,937,357.04
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
（II）
Other comprehensive income that will 1,821,561.04 42,627,645.56
be reclassified into profit or loss.
1.Other comprehensive income under t
1,821,561.04 -1,482,656.44
he equity method investee can be reclas
sified into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3.Gains and losses from changes in fair 44,110,302.00
value available for sale financial assets
4. Other comprehensive income arising
from the reclassification of financial
assets
5.Held-to-maturity investments reclassi
fied to gains and losses of available for
sale financial assets
6. Allowance for credit impairments in
investments in other debt obligations
7. Reserve for cash flow hedges
8.
Translation differences in currency fina
ncial statements
9.Other
Net of profit of other comprehensive in
come attributable to Minority
22
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
shareholders’ equity
VII. Total comprehensive income 455,034,188.22 551,733,209.32
Total comprehensive income
attributable to the owner of the parent 396,003,373.84 483,930,648.32
company
Total comprehensive income
59,030,814.38 67,802,561.00
attributable minority shareholders
VIII. Earnings per share
（I）Basic earnings per share 0.18 0.21
(II)Diluted earnings per share 0.18 0.21
The current business combination under common control, the net profits of the combined party before achieved ne
t profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative:Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
23
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
4.Income statement of the Parent Company of the Report period
In RMB
Items Amount in this period Amount in last period
I. Revenue 342,418,541.44 380,022,328.89
Including ：Operating costs 198,429,214.26 170,355,701.76
Business tax and surcharge 2,004,169.87 2,323,857.60
Sales expense
Administrative expense 24,497,934.85 18,325,889.09
R & D expense
Financial expenses 49,775,101.80 51,345,142.50
Including：Interest expenses 55,249,291.52 55,947,515.48
Interest income 5,487,589.69 4,614,243.77
Add：Other income 194,598.16
Investment gain（“-”for loss） 154,270,235.80 820,280,096.41
Including: investment gains from
139,066,452.38 134,304,872.05
affiliates
Financial assets measured at
amortized cost cease to be recognized
as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss
Impairment loss of assets 1,240,782.92
Assets disposal income
II. Operating profit（“-”for loss） 221,982,356.46 959,387,215.43
Add ：Non-operating income 953,148.06 182,721.87
Less：Non -operating expenses 357,431.46 184,874.00
III. Total profit(“-”for loss) 222,578,073.06 959,385,063.30
Less：Income tax expenses 20,782,022.44 34,466,045.99
IV. Net profit 201,796,050.62 924,919,017.31
1.Net continuing operating profit 201,796,050.62 924,919,017.31
2.Termination of operating net profit
V. Net after-tax of other
24,758,918.08 42,627,645.56
comprehensive income
（I）Other comprehensive income 22,937,357.04
24
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
items that will not be reclassified into
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit
plans of changes in net debt or net ass
ets
2.Other comprehensive income under
the equity method investee can not b
e reclassified into profit or loss.
3. Changes in the fair value of
investments in other equity 22,937,357.04
instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
（II）
Other comprehensive income that wil 1,821,561.04 42,627,645.56
l be reclassified into profit or loss.
1.Other comprehensive income under
the equity method investee can be re 1,821,561.04 -1,482,656.44
classified into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3.
Gains and losses from changes in fair
44,110,302.00
value available for sale financial asset
s
4. Other comprehensive income
arising from the reclassification of
financial assets
5.Held-to-maturity investments reclas
sified to gains and losses of available
for sale financial assets
6. Allowance for credit
impairments in investments in other
debt obligations
7. Reserve for cash flow hedges
8.
Translation differences in currency fi
25
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
nancial statements
9.Other
VI. Total comprehensive income 226,554,968.70 967,546,662.87
VII. Earnings per share
（I）Basic earnings per share
(II)Diluted earnings per share
Legal Representative:Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
5. Consolidated Income statement between the beginning of the year and end of the report period
In RMB
Items Amount in this period Amount in last period
I. Turnover 2,280,504,326.66 2,386,633,889.06
Including：Operating income 2,280,504,326.66 2,386,633,889.06
Interest income
Insurance fee earned
Commission charge and commission
income
II. Total operating costs 1,145,369,320.38 1,105,005,002.49
Including：Operating costs 860,140,930.07 817,225,556.12
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Appropriation of deposit for duty,net
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 10,253,483.35 10,740,890.98
Sales expense
26
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
Administrative expense 117,390,810.80 105,269,752.40
R & D expense 3,026,437.60
Financial expenses 157,584,096.16 168,742,365.39
Including：Interest expense 173,687,402.86 185,358,874.77
Interest income 21,262,441.48 22,721,206.04
Add：Other income 1,146,092.93 194,598.16
Investment gain（“-”for loss） 415,691,849.62 393,663,174.25
Including: investment gains from
376,779,450.47 351,082,029.39
affiliates
Financial assets measured at
amortized cost cease to be recognized
as income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
Credit impairment loss
Impairment loss of assets 1,873,719.27
Assets disposal income 13,129,094.29 66,369,899.18
III. Operating profit（“-”for loss） 1,565,102,043.12 1,743,730,277.43
Add ：Non-operating income 1,972,712.67 3,258,819.00
Less: Non-operating expense 4,716,569.00 2,145,960.35
IV. Total profit(“-”for loss) 1,562,358,186.79 1,744,843,136.08
Less：Income tax expenses 288,497,112.78 337,103,704.44
V. Net profit 1,273,861,074.01 1,407,739,431.64
(I) Classification by business
continuity
1.Net continuing operating profit 1,273,861,074.01 1,407,739,431.64
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners
1,107,730,568.06 1,220,305,249.74
of parent company
2.Minority shareholders’ equity 166,130,505.95 187,434,181.90
VI. Net after-tax of other
43,697,001.82 -31,167,903.99
comprehensive income
43,697,001.82 -31,167,903.99
27
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
Net of profit of other comprehensive in
come attributable to owners of the pare
nt company.
（I）Other comprehensive income
items that will not be reclassified into
42,345,889.92
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
2.Other comprehensive income under t
he equity method investee can not be re
classified into profit or loss.
3. Changes in the fair value of
42,345,889.92
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
（II）
Other comprehensive income that will 1,351,111.90 -31,167,903.99
be reclassified into profit or loss.
1.Other comprehensive income under t
1,351,111.90 -6,466,134.87
he equity method investee can be reclas
sified into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3.Gains and losses from changes in fair -24,701,769.12
value available for sale financial assets
4. Other comprehensive income arising
from the reclassification of financial
assets
5.Held-to-maturity investments reclassi
fied to gains and losses of available for
sale financial assets
6. Allowance for credit impairments in
investments in other debt obligations
7. Reserve for cash flow hedges
28
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
8.
Translation differences in currency fina
ncial statements
9.Other
Net of profit of other comprehensive in
come attributable to Minority
shareholders’ equity
VII. Total comprehensive income 1,317,558,075.83 1,376,571,527.65
Total comprehensive income
attributable to the owner of the parent 1,151,427,569.88 1,189,137,345.75
company
Total comprehensive income
166,130,505.95 187,434,181.90
attributable minority shareholders
VIII. Earnings per share
（I）Basic earnings per share 0.53 0.58
(II)Diluted earnings per share 0.53 0.58
The current business combination under common control, the net profits of the combined party before achieved ne
t profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative:Zheng Renfa
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
6.Income Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I. Revenue 965,545,058.79 1,055,916,596.63
Including ：Operating costs 527,619,888.78 480,666,389.08
Business tax and surcharge 5,490,462.24 5,817,633.50
Sales expense
Administrative expense 71,493,995.49 60,558,892.12
R & D expense
29
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
Financial expenses 146,152,262.04 155,551,567.44
Including：Interest expenses 164,808,705.82 174,813,943.23
Interest income 21,139,717.95 22,420,977.88
Add：Other income 70,758.72 194,598.16
Investment gain（“-”for loss） 1,129,929,737.50 1,700,859,665.12
Including: investment gains from
376,779,450.47 351,082,029.39
affiliates
Financial assets measured at
amortized cost cease to be recognized
as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss
Impairment loss of assets 1,240,782.92
Assets disposal income 138,427.18
II. Operating profit（“-”for loss） 1,344,788,946.46 2,055,755,587.87
Add ：Non-operating income 1,252,084.02 1,099,053.86
Less：Non -operating expenses 728,260.63 670,700.09
III. Total profit(“-”for loss) 1,345,312,769.85 2,056,183,941.64
Less：Income tax expenses 64,865,201.09 88,520,873.40
IV. Net profit 1,280,447,568.76 1,967,663,068.24
1.Net continuing operating profit 1,280,447,568.76 1,967,663,068.24
2.Termination of operating net profit
V. Net after-tax of other
43,697,001.82 -31,167,903.99
comprehensive income
（I）Other comprehensive income
items that will not be reclassified into
42,345,889.92
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit
plans of changes in net debt or net ass
ets
2.Other comprehensive income under
the equity method investee can not b
e reclassified into profit or loss.
3. Changes in the fair value of 42,345,889.92
30
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
investments in other equity
instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
（II）
Other comprehensive income that wil 1,351,111.90 -31,167,903.99
l be reclassified into profit or loss.
1.Other comprehensive income under
the equity method investee can be re 1,351,111.90 -6,466,134.87
classified into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3.
Gains and losses from changes in fair
-24,701,769.12
value available for sale financial asset
s
4. Other comprehensive income
arising from the reclassification of
financial assets
5.Held-to-maturity investments reclas
sified to gains and losses of available
for sale financial assets
6. Allowance for credit
impairments in investments in other
debt obligations
7. Reserve for cash flow hedges
8.
Translation differences in currency fi
nancial statements
9.Other
VI. Total comprehensive income 1,324,144,570.58 1,936,495,164.25
VII. Earnings per share
（I）Basic earnings per share
(II)Diluted earnings per share
Legal Representative:Zheng Renfa
31
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
7. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
2,344,383,753.90 2,430,071,550.43
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
Cash received from interest,
commission charge and commission
Net increase of inter-bank fund
received
Net increase of repurchasing business
Net cash received by agent in
securities trading
Tax returned
Other cash received from business
44,239,546.43 59,374,799.43
operation
Sub-total of cash inflow 2,388,623,300.33 2,489,446,349.86
Cash paid for purchasing of
175,258,111.40 142,035,365.51
merchandise and services
32
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
Net increase of client trade and
advance
Net increase of savings in central
bank and brother company
Cash paid for original contract
claim
Net increase for Outgoing call loan
Cash paid for interest, processing
fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 216,220,155.68 200,483,302.33
Taxes paid 310,136,078.87 659,984,230.23
Other cash paid for business activities 52,225,350.39 47,815,642.37
Sub-total of cash outflow from
753,839,696.34 1,050,318,540.44
business activities
Net cash generated from /used in
1,634,783,603.99 1,439,127,809.42
operating activities
II. Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains 270,260,694.55 246,194,475.70
Net cash retrieved from disposal of
fixed assets, intangible assets, and 13,963,900.00 228,183,292.51
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash
575,046.00
received
Sub-total of cash inflow due to
284,224,594.55 474,952,814.21
investment activities
Cash paid for construction of fixed
assets, intangible assets and 587,874,379.29 509,914,271.20
other long-term assets
Cash paid as investment
Net increase of loan against pledge
Net cash received from subsidiaries
and other operational units
33
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
Other cash paid for investment
activities
Sub-total of cash outflow due to
587,874,379.29 509,914,271.20
investment activities
Net cash flow generated by
-303,649,784.74 -34,961,456.99
investment
III.Cash flow generated by financing
Cash received as investment
Including: Cash received as
investment from minor shareholders
Cash received as loans 3,756,700,000.00 1,259,000,000.00
Other financing –related cash
received
Sub-total of cash inflow from
3,756,700,000.00 1,259,000,000.00
financing activities
Cash to repay debts 3,014,002,500.00 1,487,480,000.00
Cash paid as dividend, profit, or
1,587,922,592.34 1,482,717,100.16
interests
Including: Dividend and profit paid
by subsidiaries to minor shareholders
Other cash paid for financing
791,384.00
activities
Sub-total of cash outflow due to
4,602,716,476.34 2,970,197,100.16
financing activities
Net cash flow generated by financing -846,016,476.34 -1,711,197,100.16
IV. Influence of exchange rate
alternation on cash and cash -1,534,520.73 -2,267,884.63
equivalents
V.Net increase of cash and cash
483,582,822.18 -309,298,632.36
equivalents
Add: balance of cash and cash
2,123,303,796.32 2,363,042,700.42
equivalents at the beginning of term
VI ..Balance of cash and cash
2,606,886,618.50 2,053,744,068.06
equivalents at the end of term
Legal Representative:Zheng Renfa
General Manager: Wang Chunhua
34
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
8. Cash Flow Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
991,093,953.83 1,028,479,493.61
rending of services
Tax returned
Other cash received from business
40,435,161.13 347,679,931.37
operation
Sub-total of cash inflow 1,031,529,114.96 1,376,159,424.98
Cash paid for purchasing of
56,811,641.02 59,667,495.43
merchandise and services
Cash paid to staffs or paid for staffs 84,950,880.56 80,870,547.38
Taxes paid 36,317,795.45 38,553,095.96
Other cash paid for business activities 170,450,166.76 363,020,990.09
Sub-total of cash outflow from
348,530,483.79 542,112,128.86
business activities
Net cash generated from /used in
682,998,631.17 834,047,296.12
operating activities
II.Cash flow generated by investing
Cash received from investment
5,000,000.00
retrieving
Cash received as investment gains 941,023,466.69 877,415,742.21
Net cash retrieved from disposal of
fixed assets, intangible assets, and 4,900.00 296,095.00
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash
650,750.00
received
Sub-total of cash inflow due to
946,028,366.69 878,362,587.21
investment activities
Cash paid for construction of fixed 548,481,380.34 495,317,031.90
35
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Items Amount in this period Amount in last period
assets, intangible assets
and other long-term assets
Cash paid as investment
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
548,481,380.34 495,317,031.90
investment activities
Net cash flow generated by
397,546,986.35 383,045,555.31
investment
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 3,290,000,000.00 600,000,000.00
Other financing –related ash received 291,000,000.00
Sub-total of cash inflow from
3,290,000,000.00 891,000,000.00
financing activities
Cash to repay debts 2,572,317,500.00 614,100,000.00
Cash paid as dividend, profit, or
1,350,708,402.36 1,212,529,917.37
interests
Other cash paid for financing
791,384.00 374,200,000.00
activities
Sub-total of cash outflow due to
3,923,817,286.36 2,200,829,917.37
financing activities
Net cash flow generated by financing -633,817,286.36 -1,309,829,917.37
IV. Influence of exchange rate
alternation on cash and cash -1,534,520.73 -2,267,884.63
equivalents
V.Net increase of cash and cash
445,193,810.43 -95,004,950.57
equivalents
Add: balance of cash and cash
2,095,376,368.04 2,130,475,892.67
equivalents at the beginning of term
VI ..Balance of cash and cash
2,540,570,178.47 2,035,470,942.10
equivalents at the end of term
Legal Representative:Zheng Renfa
36
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
General Manager: Wang Chunhua
Person-in-charge of the accounting work：Fang Zhi
Person-in -charge of the accounting organ：Zhou Fang
II Adjustments to the Financial Statements
1. Adjustment of the relevant items of the financial statements at the current year beginning according to
the new standards for financial instruments, the new standards for revenues and the new standards for
lease implemented commencing from year 2019
√ Applicable □ Not applicable
Consolidated balance sheet
In RMB
Amount involved in the
Items December 31,2018 January 1,2019
adjustment
Current asset：
Monetary fund 2,124,524,996.32 2,124,524,996.32
Settlement provision
Outgoing call loan
Transactional financial
assets
Financial assets
measured at fair value with
variations accounted into
current income account
Derivative financial
assets
Notes receivable
Account receivable 91,076,995.07 91,076,995.07
Financing of
receivables
Prepayments 1,912,943.40 1,912,943.40
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
37
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Amount involved in the
Items December 31,2018 January 1,2019
adjustment
Other account receivable 16,487,256.02 16,487,256.02
Including：Interest
receivable
Dividend receivable 1,205,472.90 1,205,472.90
Other receivable 15,281,783.12 15,281,783.12
Repurchasing of financial
assets
Inventories 81,017.91 81,017.91
Contract assets
Assets held for sales
Non-current asset due
51,745.32 51,745.32
within 1 year
Other current asset
Total of current assets 2,234,134,954.04 2,234,134,954.04
Non-current assets：
Loans and payment on
other’s behalf disbursed
Debt investment
Available for sale of
1,668,791,594.53 -1,668,791,594.53
financial assets
Other investment on
bonds
Expired investment in
possess
Long-term receivable
Long term share equity
3,145,644,970.07 3,145,355,906.88 -289,063.19
investment
Other equity instruments
1,668,791,594.53 1,668,791,594.53
investment
Other non-current financial
assets
Property investment 3,579,007.54 3,579,007.54
Fixed assets 7,600,046,319.91 7,600,046,319.91
Including：Fixed assets 7,600,046,319.91 7,600,046,319.91
Liquidation of fixed
assets
Construction in 1,089,473,425.63 1,089,473,425.63
38
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Amount involved in the
Items December 31,2018 January 1,2019
adjustment
progress
Including : Construction
1,087,923,869.63 1,087,923,869.63
in progress
Engineering material 1,549,556.00 1,549,556.00
Production physical
assets
Oil & gas assets
Use right assets
Intangible assets 5,739,020.48 5,739,020.48
Development expenses
Goodwill
Long-germ expenses to be
1,221,781.88 1,221,781.88
amortized
Deferred income tax asset 447,485,034.79 447,485,034.79
Other non-current asset 99,794,665.58 99,794,665.58
Total of non-current assets 14,061,775,820.41 14,061,486,757.22 -289,063.19
Total of assets 16,295,910,774.45 16,295,621,711.26 -289,063.19
Current liabilities
Short-term loans
Loan from Central Bank
Borrowing funds
Transactional financial
liabilities
Financial liabilities
measured at fair value with
variations accounted into
current income account
Derivative financial
liabilities
Notes payable
Account payable 203,779,190.74 203,779,190.74
Advance receipts 12,039,708.01 12,039,708.01
Contract liabilities
Selling of repurchased
financial assets
39
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Amount involved in the
Items December 31,2018 January 1,2019
adjustment
Deposit taking and
interbank deposit
Entrusted trading of
securities
Entrusted selling of
securities
Employees’ wage payable 13,122,437.17 13,122,437.17
Tax payable 104,198,746.06 104,198,746.06
Other account payable 191,254,464.84 191,254,464.84
Including：Interest payable 8,971,576.57 8,971,576.57
Dividend payable 17,191,142.23 17,191,142.23
Other payable 165,091,746.04 165,091,746.04
Fees and commissions
payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due
2,498,480,000.00 2,498,480,000.00
within 1 year
Other current liability
Total of current liability 3,022,874,546.82 3,022,874,546.82
Non-current liabilities：
Reserve fund for insurance
contracts
Long-term loan 2,983,040,000.00 2,983,040,000.00
Bond payable
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 38,022,210.11 38,022,210.11
Including：
38,022,210.11 38,022,210.11
Long-term payable
Special payable
Long-term remuneration
payable to staff
40
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Amount involved in the
Items December 31,2018 January 1,2019
adjustment
Expected liabilities
Deferred income
Deferred income tax
205,672,389.59 205,672,389.59
liability
Other non-current
liabilities
Total non-current liabilities 3,226,734,599.70 3,226,734,599.70
Total of liability 6,249,609,146.52 6,249,609,146.52
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 2,536,774,965.31 2,536,774,965.31
Less：Shares in stock
Other comprehensive
245,109,114.81 256,173,465.10 11,064,350.29
income
Special reserve
Surplus reserves 775,402,561.35 775,402,561.35
Common risk provision
Retained profit 3,938,609,136.59 3,927,255,723.11 -11,353,413.48
Total of owner’s equity
belong to the parent 9,586,701,904.06 9,586,412,840.87 -289,063.19
company
Minority shareholders’
459,599,723.87 459,599,723.87
equity
Total of owners’ equity 10,046,301,627.93 10,046,012,564.74 -289,063.19
Total of liabilities and
16,295,910,774.45 16,295,621,711.26 -289,063.19
owners’ equity
Adjustment statement
Parent Company Balance Sheet
In RMB
41
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Amount involved in the
Items December 31,2018 January 1,2019
adjustment
Current asset：
Monetary fund 2,096,597,568.04 2,096,597,568.04
Transactional financial
assets
Financial assets
measured at fair value with
variations accounted into
current income account
Derivative financial
assets
Notes receivable
Account receivable 18,405,847.15 18,405,847.15
Financing of receivables
Prepayments 1,532,057.82 1,532,057.82
Other account receivable 9,323,782.66 9,323,782.66
Including：Interest
1,880,148.12 1,880,148.12
receivable
Dividend receivable 1,205,472.90 1,205,472.90
Other receivable 6,238,161.64 6,238,161.64
Inventories
Contract assets
Assets held for sales
Non-current asset due
100,000,000.00 100,000,000.00
within 1 year
Other current asset
Total of current assets 2,225,859,255.67 2,225,859,255.67
Non-current assets：
Debt investment 692,903,684.98 692,903,684.98
Available for sale of
1,668,791,594.53 -1,668,791,594.53
financial assets
Other investment on bonds
Expired investment in
possess
Long-term receivable
Long term share equity
4,679,309,978.88 4,679,020,915.69 -289,063.19
investment
42
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Amount involved in the
Items December 31,2018 January 1,2019
adjustment
Other equity instruments
1,668,791,594.53 1,668,791,594.53
investment
Other non-current financial
assets
Property investment 3,326,869.29 3,326,869.29
Fixed assets 5,292,898,635.00 5,292,898,635.00
Including：Fixed assets 5,292,898,635.00 5,292,898,635.00
Liquidation of fixed assets
Construction in progress 1,060,230,773.10 1,060,230,773.10
Including: Construction in
1,060,230,773.10 1,060,230,773.10
progress
Engineering material
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 1,741,277.53 1,741,277.53
Development expenses
Goodwill
Long-germ expenses to
be amortized
Deferred income tax
447,328,530.77 447,328,530.77
asset
Other non-current asset 790,720,727.48 97,817,042.50 -692,903,684.98
Total of non-current assets 13,944,348,386.58 13,944,059,323.39 -289,063.19
Total of assets 16,170,207,642.25 16,169,918,579.06 -289,063.19
Current liabilities
Short-term loans
Transactional financial
liabilities
Financial liabilities
measured at fair value with
variations accounted into
current income account
Derivative financial
liabilities
Notes payable
43
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Amount involved in the
Items December 31,2018 January 1,2019
adjustment
Account payable 124,833,335.72 124,833,335.72
Advance receipts
Contract Liabilities
Employees’ wage payable 5,669,203.37 5,669,203.37
Tax payable 10,297,144.52 10,297,144.52
Other account payable 142,457,135.79 142,457,135.79
Including：Interest
8,373,096.36 8,373,096.36
payable
Dividend payable 17,191,142.23 17,191,142.23
Other payable 116,892,897.20 116,892,897.20
Liabilities held for sales
Non-current liability due
2,327,180,000.00 2,327,180,000.00
within 1 year
Other current liability 977,236,252.44 977,236,252.44
Total of current liability 3,587,673,071.84 3,587,673,071.84
Non-current liabilities：
Long-term loan 2,731,990,000.00 2,731,990,000.00
Bond payable
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 38,022,210.11 38,022,210.11
Including：Long-term
38,022,210.11 38,022,210.11
payable
Special payable
Long-term remuneration
payable to staff
Expected liabilities
Deferred income
Deferred income tax
88,220,604.00 88,220,604.00
liability
Other non-current
liabilities
Total non-current liabilities 2,858,232,814.11 2,858,232,814.11
44
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
Amount involved in the
Items December 31,2018 January 1,2019
adjustment
Total of liability 6,445,905,885.95 6,445,905,885.95
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 2,948,663,196.93 2,948,663,196.93
Less：Shares in stock
Other comprehensive
245,109,114.81 256,173,465.10 11,064,350.29
income
Special reserve
Surplus reserves 759,558,277.70 759,558,277.70
Retained profit 3,680,165,040.86 3,668,811,627.38 -11,353,413.48
Total of owners’ equity 9,724,301,756.30 9,724,012,693.11 -289,063.19
Total of liabilities and
16,170,207,642.25 16,169,918,579.06 -289,063.19
owners’ equity
Adjustment statement
2. Note to the retroactive adjustment of the previous comparative data according to the new standards for
financial instruments and the new standards for lease implemented commencing from year 2019
□ Applicable √ Not applicable
III. Auditor’ report
Is the Third Quarterly Report be audited?
□ Yes √No
The Third Quarterly report is not audited.
45
