广东电力发展股份有限公司 2011 年第一季度季度报告全文
Guangdong Electric Power Development Co., Ltd.
The First Quarterly Report 2011
§I Important Statement
1.1 The Board of Directors, Supervisory Committee, Directors , Supervisors, Senior Executives of
the Company hereby warrant that there are no misstatement, misleading representation or
important omissions in this report and shall assume joint and several liability for the
authenticity, accuracy and completeness of the contents hereof.
1.2 Other directors attended the meeting on examining the Annual except for the following directors.
Name absent
Title Reason of absence Name of entrusted
director
Pan Li Board Chairman Due to business Liu Qian
Zhong Weimin Director Due to business Liu Qian
Wu Bin Director Due to business Zhang Yao
Wu Xu Director Due to business Sha Qilin
1.3 The financial report of the Company in this Quarterly report period has not been audited.
1.4 Chairman of the Board of Directors, Pan Li, General Manager, Liu Luoshou , Deputy General
Manager and Principal of Financial Dept , Li Xiaoqing and Financial Manager ,Qin Jingdong
represent and warrant the financial and accounting report in the Quarterly report is true and
complete.
English translation for reference only. Should there be any inconsistency between the Chinese
and English versions, the Chinese version shall prevail.
§2 Basic Information
2.1 Main accounting Highlights and financial indexes
Unit：RMB
Increase/decrease of the
At the end of the report end of report period than
At the end of the last year
period that of the end of the last
year(%)
Total assets（RMB） 36,438,615,820.00 34,596,318,255.00 5.33%
Owner’s equity attributable to the shareholders of
10,184,434,550.00 10,165,754,201.00 0.18%
the listed company （RMB）
Stock capital（Shares） 2,797,451,138.00 2,797,451,138.00 0.00%
Net assets per share attributable to the
shareholders of the listed company 3.64 3.63 0.28%
（RMB/shares）
Amount of the same period
Amount of current period Increase /decrease（％）
in last year
Total turnover(RMB) 2,764,782,132.00 3,139,514,816.00 -11.94%
Net profit attributable to owners of parent
12,721,156.00 271,049,938.00 -95.31%
company(RMB)
1
广东电力发展股份有限公司 2011 年第一季度季度报告全文
Net cash flow arising from operating
220,682,918.00 993,442,742.00 -77.79%
activities(RMB)
Net cash flow per share arising from
0.079 0.37 -78.65%
operating activities(RMB/share)
Basic earnings per share(RMB/share) 0.005 0.102 -95.10%
Diluted earnings per share(RMB/share) 0.005 0.102 -95.10%
Weighted average return on equity（%） 0.13% 2.88% -2.75%
Weighted average return on equity after
0.06% 2.83% -2.77%
deducting non-recurring gains and losses（%）
Items of non-current gains and losses
√ applicable □ not applicable
Unit：RMB
Non-recurring gain and loss items Amount Notes（If applicable）
Profit & loss arising from entrusting Loan 8,375,481.79
Except the above items, other non-operating earning and expenditure 1,642,776.08
Amount of influence of income tax -2,505,264.26
Amount of influence of minority interests -835,731.33
Total 6,677,262.28 -
2.2 Top 10 shareholders and top 10 holders of unconditional shares
Unit：Shares
Total number of shareholders at the end of
150,164
report period
Particulars about the shares held by the top ten tradable shareholders with unrestricted conditions
Amount of tradable shares with
Full name of shareholder unrestricted conditions held at the Type of shares
end of report period
Guangdong Yudean Group Co., Ltd. 1,370,445,900 RMB Common shares
Shenzhen Guangfa Electric Power Investment
101,777,185 RMB Common shares
Co., Ltd.
Guangdong Electric Power Development
78,639,451 RMB Common shares
Company
Guangdong Guangkong Group Co., Ltd. 23,610,428 RMB Common shares
Boshi Increase securities Investment Fund 12,000,000 RMB Common shares
Foreign shares placed in domestic
Natio Securities Co., Ltd. 11,575,492
exchange
China Xinda Asset Management Company 10,900,000 RMB Common shares
CHINA INT'L CAPITAL CORP HONG KONG Foreign shares placed in domestic
10,259,685
SECURITIES LTD exchange
Foreign shares placed in domestic
NORGES BANK 9,743,916
exchange
Foreign shares placed in domestic
Changkang Investment Co., Ltd. 9,713,897
exchange
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广东电力发展股份有限公司 2011 年第一季度季度报告全文
§3 Significant Events
3.1 Particular about large-margin change of main accounting statement item and financial index and its reason.
√ applicable □ not applicable
1. Net profit decreased by 95.31% year on year mainly due to sharp lowering of operating gross profit rate caused by decrease of power
output and rise in operating cost.
2. Net cash flows from operating activities decreased by 77.79% year on year mainly due to sharp increase of payment for fuel
purchase.
3.2 The progress of significant events and influence, as well as the analysis and explanation on resolving proposal
reason.
3.2.1 Non-standard Opinion
□applicable √ not applicable
3.2.2 The Company provided funds to its controlling shareholder or related parties and provided guarantees in
violation of established procedures.
□applicable √ not applicable
3.2.3 Signing and performance of significant contracts for daily operation
□applicable √ not applicable
3.2.4 Other
√□applicable □not applicable
In June.2010, company started major asset re-organization of purchasing asset from controlling
shareholder Guangdong Yudean Group Co., Ltd. by issuing share. It had been approved by board of
directors and general meeting of shareholders that company is planning to issue 988 million shares to
controlling shareholder for purchasing its equity assets in 7 power projects such as Pinghai power
plant and Taishan power plant etc. which is valued for RMB 6.04 billion. This re-organization plan is
currently under review of China Securities Regulatory Commission. Through this re-organization, the
installed capacity, asset size and profitability of company will be increased largely. It is benefit for
company to consolidate and improve its market position and core competence. Besides, it meets the
interests of all shareholders and it will effectively reduce the horizontal competition between
controlling shareholder and our company.
3.3 The fulfillment of the commitment made by the Company , shareholders and the actual controller
Commitments made by the listed company and its directors, supervisors, senior executives, the shareholders with
holding above 5% shares and its actual controller in the report period, or lasting until the report period.
√□applicable □not applicable
Items of commitments Promisee Content of commitments Implementation
3
广东电力发展股份有限公司 2011 年第一季度季度报告全文
Promise in share holding structure
N/A N/A N/A
reform
Commitments made in Acquisition Report
or Reports on Change in interests N/A N/A N/A
Commitments made in Material assets
Reorganization N/A N/A N/A
Commitments made in issuing N/A N/A N/A
The company issued No. 2008-46
Announcement of purchase of the
Company’s Shares by the Controlling
Guangdong
Other commitments（Including: Shareholder and its persons Taking
Yudean Group Under fulfillment
supplementary commitments） concerted action on September 19, 2008.
Co., Ltd.
couldn't reduce the shareholding of our
company during the implementation and
legal term.
3.4 Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation of reason.
□applicable √ not applicable
3.5 Other significant events need to be explained
3.5.1 Securities investment
√applicable □ not applicable
Unit: RMB
Percentage
of total
Stock Initial Holding Book values at Profit and loss
investment
No Stock type Stock code abbreviatio investment quantity(Shar the end of during the report
in this stock
n amount(Yuan) e) period(RMB) period(RMB)
at the end or
period(%)
Shen
1 Stock 000027 16,949,674.00 7,000,000 68,950,000.00 19.10% -1,680,001.00
Energy A
SHENERG
2 Stock 600642 235,837,987.50 37,021,500 292,099,635.00 80.90% 9,625,591.00
Y
Other securities investment held at the end of the
0.00 - 0.00 0.00% 0.00
period
Gain and loss from investment in securities already
- - - - 0.00
sold in the report period
Total 252,787,661.50 - 361,049,635.00 100% 7,945,590.00
Explanation Investment in securities ：
No
3.5.2 Reception of investigations , communications , or interviews
Discussion issue and offered
Reception Place Mode Object
information
Franklin Templeton To learn about the Company’s operating
March 25, 2011 The Company Telephone
Investments and Development status,. ect.
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广东电力发展股份有限公司 2011 年第一季度季度报告全文
3.6 Derivative Investment
□applicable √ not applicable
3.6.1 Particulars about derivatives investment held at the end of report period
□applicable √ not applicable
§4 Appendix
4.1 Balance sheet
Prepared by: Guangdong Electric Power Development Co., Ltd.
March 31, 2011 Unit : RMB
Year-end balance
Year-beginning balance
Items
Consolidated Parent company Consolidated Parent company
Current asset：
Monetary fund 2,872,360,106.00 414,256,029.00 1,894,021,204.00 659,395,980.00
Settlement provision
Outgoing call loan
Trading financial assets
Bill receivable
Account receivable 1,721,127,135.00 428,527,514.00 1,841,038,374.00 442,971,470.00
Prepayments 1,329,638,639.00 177,862,000.00 668,596,257.00 177,510,400.00
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable 223,800.00
Dividend receivable 9,155,096.00 9,155,096.00
Other account receivable 595,855,841.00 562,847,160.00 572,285,959.00 553,478,108.00
Repurchasing of financial assets
Inventories 645,808,490.00 128,582,892.00 852,247,851.00 147,588,932.00
Non-current asset due in 1 year
Other current asset 94,636,572.00
Total of current assets 7,259,426,783.00 1,721,230,691.00 5,828,413,445.00 1,990,099,986.00
Non-current assets：
Loans and payment on other’s
behalf disbursed
Financial assets available for sale 361,049,635.00 361,049,635.00 353,104,045.00 353,104,045.00
Expired investment in possess
Long-term receivable 93,248,296.00 15,580,000.00 33,326,446.00 15,580,000.00
Long term share equity
5,733,886,661.00 12,632,576,092.00 5,469,169,354.00 12,138,988,785.00
investment
Property investment 12,585,689.00 12,585,689.00 12,743,846.00 12,743,846.00
Fixed assets 10,882,691,745.00 1,188,978,138.00 11,207,225,955.00 1,230,337,302.00
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广东电力发展股份有限公司 2011 年第一季度季度报告全文
Construction in progress 10,287,336,455.00 26,434,008.00 9,964,066,605.00 21,272,816.00
Engineering material 1,197,553,305.00 1,154,219,103.00
Fixed asset disposal 52,066,110.00 152,142.00 13,259,341.00
Production physical assets
Gas & petrol
Intangible assets 467,098,460.00 110,451,499.00 471,880,558.00 111,321,196.00
R & D petrol
Goodwill
Long-germ expenses to be
amortized
Differed income tax asset 91,672,681.00 88,909,557.00
Other non-current asset
Total of non-current assets 29,179,189,037.00 14,347,807,203.00 28,767,904,810.00 13,883,347,990.00
Total of assets 36,438,615,820.00 16,069,037,894.00 34,596,318,255.00 15,873,447,976.00
Current liabilities
Short-term loans 7,839,000,000.00 2,670,000,000.00 8,327,500,000.00 3,670,000,000.00
Loan from Central Bank
Deposit received and hold for
others
Call loan received
Trade off financial liabilities
Bill payable 320,000,000.00 110,000,000.00
Account payable 2,051,771,231.00 469,545,122.00 2,636,633,053.00 362,866,001.00
Accounts received in advance 6,493,383.00 3,150,168.00 2,091,859.00 1,629,002.00
Selling financial assets of
repurchase
Commission charge and
commission payable
Wage payable 282,887,490.00 55,851,833.00 248,689,441.00 53,486,508.00
Taxes payable -310,408,151.00 24,621,398.00 -296,863,723.00 25,701,980.00
Interest payable 19,643,384.00 17,015,479.00 108,347,024.00 99,039,629.00
Dividend payable 11,998,400.00 7,068,733.00 12,042,196.00 7,112,529.00
Other accounts payable 943,191,395.00 56,363,289.00 878,339,481.00 60,544,841.00
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liability due in 1
608,642,773.00 627,733,453.00
year
Other current liability 17,303,294.00
Total of current liability 11,790,523,199.00 3,303,616,022.00 12,654,512,784.00 4,280,380,490.00
Non-current liabilities：
Long-term loan 7,552,718,710.00 1,100,000,000.00 6,320,720,000.00
Bond payable 1,989,415,481.00 1,989,415,481.00 1,988,739,874.00 1,988,739,874.00
Long-term payable 1,770,398,968.00 498,657,613.00
Special payable
Expected liabilities
Differed income tax liability 7,237,818.00 5,892,955.00 5,251,421.00 3,906,557.00
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广东电力发展股份有限公司 2011 年第一季度季度报告全文
Other non-current liabilities 41,997,411.00 24,615,385.00 44,059,687.00 24,615,385.00
Total of non-current liabilities 11,361,768,388.00 3,119,923,821.00 8,857,428,595.00 2,017,261,816.00
Total of liabilities 23,152,291,587.00 6,423,539,843.00 21,511,941,379.00 6,297,642,306.00
Owners’ equity
Share capital 2,797,451,138.00 2,797,451,138.00 2,797,451,138.00 2,797,451,138.00
Capital reserves 1,890,385,364.00 1,823,516,009.00 1,884,426,171.00 1,817,556,816.00
Less：Shares in stock
Special reserve
Surplus reserves 3,425,241,041.00 3,425,241,041.00 3,425,241,041.00 3,425,241,041.00
Common risk provision
Undistributed profit 2,071,357,007.00 1,599,289,863.00 2,058,635,851.00 1,535,556,675.00
Different of foreign currency
translation
Total of owner’s equity belong to
10,184,434,550.00 9,645,498,051.00 10,165,754,201.00 9,575,805,670.00
the parent company
Minor shareholders’ equity 3,101,889,683.00 2,918,622,675.00
Total of owners’ equity 13,286,324,233.00 9,645,498,051.00 13,084,376,876.00 9,575,805,670.00
Total of liabilities and owners’
36,438,615,820.00 16,069,037,894.00 34,596,318,255.00 15,873,447,976.00
equity
4.2 Profit statement
Prepared by：Guangdong Electric Power Development Co., Ltd.
January-March 2011 Unit：（RMB）
Report period Same period of the previous year
Items
Consolidated Parent company Consolidated Parent company
I.Total operating income 2,764,782,132.00 749,893,517.00 3,139,514,816.00 821,231,571.00
Including：Operating income 2,745,587,546.00 739,143,827.00 3,131,372,819.00 816,790,333.00
Interest income
Insurance gained
Commission charge and
commission income
II.Total operating costt 2,863,449,903.00 774,251,840.00 2,828,026,908.00 746,026,495.00
Including：Operating cost 2,572,999,423.00 658,547,744.00 2,582,536,751.00 655,916,914.00
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 12,439,251.00 3,823,721.00 9,236,972.00
Sales expenses 147,360.00 107,000.00 8,000.00
Administration expenses 118,958,722.00 35,866,986.00 127,089,939.00 30,884,931.00
Financial expenses 150,080,837.00 71,132,078.00 105,346,288.00 55,740,150.00
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广东电力发展股份有限公司 2011 年第一季度季度报告全文
Losses of devaluation of assets
Add ：Changing income of fair
value
Investment income 82,631,869.00 82,631,869.00 98,542,258.00 98,542,258.00
Including：Investment income on
affiliate company and joint
venture
Exchange income
III. Operating profit -16,035,902.00 58,273,546.00 410,030,166.00 173,747,334.00
Add ：Non-operating income 3,232,845.00 17,641.00 1,168,217.00
Less：Non-operating expense 1,590,069.00 1,552,705.00 525,485.00 441,862.00
Including :Disposal loss of
non-current assets
IV. Total profit -14,393,126.00 56,738,482.00 410,672,898.00 173,305,472.00
Less：Income tax 6,207,910.00 -6,994,706.00 81,390,042.00 20,300,817.00
V. Net profit -20,601,036.00 63,733,188.00 329,282,856.00 153,004,655.00
Net profit attributable to
12,721,156.00 63,733,188.00 271,049,938.00 153,004,655.00
owner’s equity of parent company
Minority shareholders’ gains
-33,322,192.00 58,232,918.00
and losses
VI. Earnings per share
（i）Basic earnings per share 0.005 0.102
（ii）Diluted earnings per share 0.005 0.102
VII. Other comprehensive income 5,959,193.00 5,959,193.00 -23,202,255.00 -23,202,255.00
VIII. Total comprehensive income -14,641,843.00 69,692,381.00 306,080,601.00 129,802,400.00
Total comprehensive income
attributable to the owner of the 18,680,349.00 69,692,381.00 247,847,683.00 129,802,400.00
parent company
Total comprehensive income
-33,322,192.00 58,232,918.00
attributable minority shareholders
For the enterprises under the same control consolidated in the report period, the net profit realized by the consolidee before the
consolidation is RMB 0.00.
4.3 Cash flow statement
Prepared by：Guangdong Electric Power Development Co., Ltd.
January-March 2011 Unit：（RMB）
Report period Same period of the previous year
Items
Consolidated Parent company Consolidated Parent company
I.Cash flows from operating
activities
Cash received from sales of
3,356,069,674.00 892,789,828.00 3,404,483,524.00 837,167,687.00
goods 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
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广东电力发展股份有限公司 2011 年第一季度季度报告全文
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 2,399,936.00 139,496.00 483,732.00
Other cash received from
31,640,414.00 10,434,147.00 23,181,921.00 5,443,789.00
business operation
Sub-total of cash inflow 3,390,110,024.00 903,363,471.00 3,428,149,177.00 842,611,476.00
Cash paid for purchasing of
2,681,195,018.00 512,682,365.00 1,848,792,836.00 383,482,233.00
merchandise and services
Net increase of client trade and
advance
Net increase of savings n
central bank and brother company
Cash paid for original contract
claim
Cash paid for interest,
processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid
246,782,277.00 90,742,324.00 217,905,350.00 74,021,580.00
for staffs
Taxes paid 173,240,215.00 40,437,829.00 300,086,883.00 100,242,725.00
Other cash paid for business
68,209,596.00 25,300,647.00 67,921,366.00 27,581,941.00
activities
Sub-total of cash outflow from
3,169,427,106.00 669,163,165.00 2,434,706,435.00 585,328,479.00
business activities
Cash flow generated by business
220,682,918.00 234,200,306.00 993,442,742.00 257,282,997.00
operation, net
II.Cash flow generated by
investing
Cash received from investment
260,000,000.00 260,000,000.00
retrieving
Cash received as investment
7,781,537.00 7,781,537.00 5,821,434.00 5,821,434.00
gains
Net cash retrieved from disposal
of fixed assets, intangible assets, 174,787.00 4,280.00 31,392.00 30,906.00
and other long-term assets
Net cash received from disposal
of subsidiaries or other
operational units
Other investment-related cash
1,326,062.00 1,303,780.00
received
Sub-total of cash inflow due
269,282,386.00 267,785,817.00 7,156,606.00 5,852,340.00
to investment activities
Cash paid for construction of 801,654,665.00 8,281,349.00 701,881,185.00 18,661,271.00
fixed assets, intangible assets and
9
广东电力发展股份有限公司 2011 年第一季度季度报告全文
other long-term assets
Cash paid as investment 450,040,000.00 678,870,000.00 38,030,000.00 514,270,000.00
Net increase of loan against
pledge
Net cash received from
subsidiaries and other operational
units
Other cash paid for investment
-4,950,013.00 197,356.00 10,511,950.00 7,600.00
activities
Sub-total of cash outflow due to
1,246,744,652.00 687,348,705.00 750,423,135.00 532,938,871.00
investment activities
Net cash flow generated by
-977,462,266.00 -419,562,888.00 -743,266,529.00 -527,086,531.00
investment
III.Cash flow generated by
financing
Cash received as investment 216,589,200.00
Incl: Cash received as
investment from minor
shareholders
Cash received as loans 5,597,688,000.00 2,670,000,000.00 2,890,885,421.00 800,000,000.00
Cash received from bond
placing
Other financing –related ash
1,205,541.00 630,525.00
received
Sub-total of cash inflow from
5,815,482,741.00 2,670,630,525.00 2,890,885,421.00 800,000,000.00
financing activities
Cash to repay debts 3,705,339,531.00 2,570,000,000.00 2,630,715,786.00 600,000,000.00
Cash paid as dividend, profit,
319,853,560.00 155,236,894.00 266,446,449.00 137,956,194.00
or interests
Incl: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing
55,171,400.00 5,171,000.00
activities
Sub-total of cash outflow due
4,080,364,491.00 2,730,407,894.00 2,897,162,235.00 737,956,194.00
to financing activities
Net cash flow generated by
1,735,118,250.00 -59,777,369.00 -6,276,814.00 62,043,806.00
financing
IV.Influence of exchange rate
alternation on cash and cash
equivalents
V.Net increase of cash and cash
978,338,902.00 -245,139,951.00 243,899,399.00 -207,759,728.00
equivalents
Add: balance of cash and cash
equivalents at the beginning of 1,894,021,204.00 659,395,980.00 1,738,834,186.00 287,691,521.00
term
VI .Balance of cash and cash
2,872,360,106.00 414,256,029.00 1,982,733,585.00 79,931,793.00
equivalents at the end of term
4.4 Auditor’ report
Auditor’s opinions: Not audited
10
