广东电力发展股份有限公司 2012 年第一季度季度报告全文
Guangdong Electric Power Development Co., Ltd.
The First Quarterly Report 2012
§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
Li Zhuoxian Director Due to business Liu Qian
Zhong Weimin Director Due to business Hong Rongkun
Wang Jin Director Due to business Lin Shizhuang
Zhang Xueqiu Director Due to business Liu Tao
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, Lin Shizhuang , 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 At the end of the last end of report period than
period year that of the end of the last
year(%)
Total assets（RMB） 39,863,216,231.00 39,480,195,392.00 0.97%
Owner’s equity attributable to the shareholders of the
10,252,968,992.00 10,206,623,366.00 0.45%
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
3.67 3.65 0.55%
the listed company（RMB/shares）
Amount of the same
Amount of current period Increase /decrease（％）
period in last year
Total turnover(RMB) 3,933,102,585.00 2,764,782,132.00 42.26%
Net profit attributable to owners of parent
58,784,105.00 12,721,156.00 362.10%
company(RMB)
Net cash flow arising from operating 772,285,337.00 220,682,918.00 249.95%
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广东电力发展股份有限公司 2012 年第一季度季度报告全文
activities(RMB)
Net cash flow per share arising from operating
0.28 0.08 250.00%
activities(RMB/share)
Basic earnings per share(RMB/share) 0.021 0.005 320.00%
Diluted earnings per share(RMB/share) 0.021 0.005 320.00%
Weighted average return on equity（%） 0.57% 0.13% 0.44%
Weighted average return on equity after deducting
0.50% 0.06% 0.44%
non-recurring gains and losses（%）
Items of non-current gains and losses
√ applicable □ not applicable
Unit：RMB
Amount (Year-beginning to the
Non-recurring gain and loss items Notes（If applicable）
end of the report period.)
Profit & loss arising from entrusting Loan 6,959,272.42
Except the above items, other non-operating earning and expenditure 1,399,925.97
Amount of influence of income tax -365,525.50
Amount of influence of minority interests -474,052.45
Total 7,519,620.44 -
2.2 Top 10 shareholders and top 10 holders of unconditional shares
Unit：Shares
Total number of shareholders at the end of
138,686
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. 1,232,256,158 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
102 Portfolio of National Social Security Fund 21,496,929 RMB Common shares
China Construction Bank－Penghua Value
Advantage Stock-linked 15,447,184 RMB Common shares
Security Investment Fund
Taifook Securities Company Limited-Account Foreign shares placed in domestic
14,624,065
Client exchange
Bank of China-E Fund Shenzhen Stock
12,145,665 RMB Common shares
Exchange 100 Exchange Traded Fund
103 Portfolio of National Social Security Fund 12,010,094 RMB Common shares
Boshi Increase securities Investment Fund 12,000,000 RMB Common shares
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广东电力发展股份有限公司 2012 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 increased by 362.1% year on year mainly due to small base amount of earnings for the same period of the previous year
and the rise in power output and electricity rate.
2. Net cash flows from operating activities increased by 249.95% year on year mainly due to the rise in power output and electricity
rate.
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 August 2011, the Company decided to continue the significant asset reorganization related to issue of shares to controlling
shareholder Guangdong Yuedian Group Co., Ltd. to purchase assets. After approval by the board of directors and shareholders' general
meeting, the Company planned to issue about 1.558 billion shares to the controlling shareholder to acquire the equities of 7 power
projects held by it including Pinghai Power Plant and Taishan Power Plant. The value of the said equities is about RMB 7.463 billion.
CSRC officially accepted the materials of this reorganization on March 14, 2012. At present, the examination is still under way. The
continuation of this reorganization contributes to consolidating and improving the Company's market position and core
competitiveness, matches its long-term development target and serves the interests of all shareholders.
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
Promise in share holding structure reform N/A N/A N/A
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
Other commitments（Including: Guangdong 138,047,138 RMB ordinary shares (A Under fulfillment
3
广东电力发展股份有限公司 2012 年第一季度季度报告全文
supplementary commitments） Yudean Group shares) privately issued by the Company
Co., Ltd.\ to Guangdong Yudean Group Co., Ltd.,
its controlling shareholder, were listed at
Shenzhen Stock Exchange from May 25,
2010. Yudean Group promised not to
assign the stocks of Yue Dian Li owned
by it within 36 months from the said day
of listing.
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
Initial Holding Book values at Profit and loss
Stock investment in
No Stock type Stock code investment quantity(Shar the end of during the report
abbreviation this stock at
amount(Yuan) e) period(RMB) period(RMB)
the end or
period(%)
Shen Energy
1 Stock 000027 16,949,674.00 8,400,000 50,484,000.00 17.39% -756,001.00
A
2 Stock 600642 SHENERGY 235,837,987.50 55,532,250 239,899,320.00 82.61% -14,993,707.00
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 - 290,383,320.00 100% -15,749,708.00
Explanation Investment in securities ：
No
3.5.2 Reception of investigations , communications , or interviews
Date Place Mode Content of discussion and
Type Visitor
materials provided
To learn about the Company’s
Office of the Onsite
March 20, 2012 Organization Boshi Fund operating and Development
Company investigation
status,. etc.
To learn about the Company’s
Office of the Onsite Yongrong Assets
March 28,2012 Organization operating and Development
Company investigation Management Co., Ltd.
status,. etc.
3.6 Derivative Investment
□applicable √ not applicable
4
广东电力发展股份有限公司 2012 年第一季度季度报告全文
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, 2012 Unit : RMB
Year-end balance
Year-beginning balance
Items
Consolidated Parent company Consolidated Parent company
Current asset：
Monetary fund 2,709,859,373.00 370,436,465.00 2,182,660,514.00 417,749,940.00
Settlement provision
Outgoing call loan
Trading financial assets
Bill receivable
Account receivable 1,763,750,100.00 386,985,945.00 1,657,325,697.00 348,032,141.00
Prepayments 495,903,175.00 178,248,245.00 321,693,491.00 178,078,582.00
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable 367,941.00 9,089,394.00 1,071,844.00 5,701,784.00
Dividend receivable 96,079,553.00 105,234,649.00 96,079,553.00 105,234,649.00
Other account receivable 79,275,940.00 248,639,458.00 97,964,732.00 273,092,240.00
Repurchasing of financial assets
Inventories 966,767,314.00 146,070,029.00 1,410,576,820.00 192,183,732.00
Non-current asset due in 1 year
Other current asset 830,918,117.00 1,524,259.00 969,425,199.00 35,837,879.00
Total of current assets 6,942,921,513.00 1,446,228,444.00 6,736,797,850.00 1,555,910,947.00
Non-current assets：
Loans and payment on other’s
behalf disbursed
Financial assets available for sale 290,383,320.00 290,383,320.00 306,133,028.00 306,133,028.00
Expired investment in possess
Long-term receivable 520,518,490.00 523,780,000.00 482,006,891.00 423,780,000.00
Long term share equity
5,857,302,310.00 13,325,586,254.00 5,812,518,793.00 13,118,857,714.00
investment
Property investment 11,951,327.00 11,951,327.00 12,110,227.00 12,110,227.00
Fixed assets 14,490,282,549.00 1,047,248,083.00 14,866,672,176.00 1,086,238,084.00
Construction in progress 9,720,141,294.00 128,579,799.00 9,159,945,080.00 88,123,240.00
Engineering material 999,275,403.00 1,023,682,015.00
Fixed asset disposal 29,172,141.00 84,670.00 4,164,516.00
Production physical assets
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广东电力发展股份有限公司 2012 年第一季度季度报告全文
Gas & petrol
Intangible assets 485,111,008.00 106,972,712.00 491,722,772.00 107,842,409.00
R & D petrol
Goodwill
Long-germ expenses to be
amortized
Differed income tax asset 98,226,675.00 1,317,488.00 96,909,186.00
Other non-current asset 417,930,201.00 487,532,858.00
Total of non-current assets 32,920,294,718.00 15,435,903,653.00 32,743,397,542.00 15,143,084,702.00
Total of assets 39,863,216,231.00 16,882,132,097.00 39,480,195,392.00 16,698,995,649.00
Current liabilities
Short-term loans 9,654,600,000.00 3,169,100,000.00 9,318,000,000.00 3,075,000,000.00
Loan from Central Bank
Deposit received and hold for
others
Call loan received
Trade off financial liabilities
Bill payable 311,640,000.00 343,083,604.00
Account payable 2,861,338,414.00 535,525,995.00 3,449,859,930.00 469,788,433.00
Accounts received in advance 3,547,159.00 2,899,668.00 2,315,543.00 1,831,135.00
Selling financial assets of
repurchase
Commission charge and
commission payable
Wage payable 252,050,281.00 65,722,248.00 205,462,922.00 42,398,999.00
Taxes payable 80,759,507.00 33,947,205.00 65,250,662.00 14,826,004.00
Interest payable 44,773,153.00 22,930,913.00 122,666,756.00 110,857,332.00
Dividend payable 12,252,964.00 7,323,298.00 15,552,964.00 7,323,298.00
Other accounts payable 802,882,140.00 48,871,524.00 817,248,933.00 47,816,643.00
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Non-current liability due in 1
810,609,130.00 40,000,000.00 940,141,518.00 40,000,000.00
year
Other current liability
Total of current liability 14,834,452,748.00 3,926,320,851.00 15,279,582,832.00 3,809,841,844.00
Non-current liabilities：
Long-term loan 7,227,153,408.00 1,150,000,000.00 7,167,153,408.00 1,090,000,000.00
Bond payable 1,992,117,912.00 1,992,117,912.00 1,991,442,304.00 1,991,442,304.00
Long-term payable 2,368,828,782.00 1,741,163,487.00
Special payable
Expected liabilities
Differed income tax liability 2,619,939.00 2,619,939.00
Other non-current liabilities 46,798,938.00 31,798,938.00 46,730,522.00 29,508,308.00
Total of non-current liabilities 11,634,899,040.00 3,173,916,850.00 10,949,109,660.00 3,113,570,551.00
Total of liabilities 26,469,351,788.00 7,100,237,701.00 26,228,692,492.00 6,923,412,395.00
Owners’ equity
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广东电力发展股份有限公司 2012 年第一季度季度报告全文
Share capital 2,797,451,138.00 2,797,451,138.00 2,797,451,138.00 2,797,451,138.00
Capital reserves 1,836,280,092.00 1,770,731,273.00 1,848,718,571.00 1,782,543,553.00
Less：Shares in stock
Special reserve
Surplus reserves 3,775,481,032.00 3,775,481,032.00 3,775,481,032.00 3,775,481,032.00
Common risk provision
Undistributed profit 1,843,756,730.00 1,438,230,953.00 1,784,972,625.00 1,420,107,531.00
Different of foreign currency
translation
Total of owner’s equity belong to
10,252,968,992.00 9,781,894,396.00 10,206,623,366.00 9,775,583,254.00
the parent company
Minor shareholders’ equity 3,140,895,451.00 3,044,879,534.00
Total of owners’ equity 13,393,864,443.00 9,781,894,396.00 13,251,502,900.00 9,775,583,254.00
Total of liabilities and owners’
39,863,216,231.00 16,882,132,097.00 39,480,195,392.00 16,698,995,649.00
equity
4.2 Profit statement
Prepared by：Guangdong Electric Power Development Co., Ltd.
January-March 2012 Unit：（RMB）
Report period Same period of the previous year
Items
Consolidated Parent company Consolidated Parent company
I.Total operating income 3,933,102,585.00 819,154,778.00 2,764,782,132.00 749,893,517.00
Including：Operating income 3,903,204,669.00 808,458,372.00 2,745,587,546.00 739,143,827.00
Interest income
Insurance gained
Commission charge and
commission income
II.Total operating costt 3,890,504,772.00 857,657,992.00 2,863,449,903.00 774,251,840.00
Including：Operating cost 3,531,864,514.00 722,594,258.00 2,572,999,423.00 658,547,744.00
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 11,733,929.00 3,823,458.00 12,439,251.00 3,823,721.00
Sales expenses 253,776.00 163,291.00 147,360.00 107,000.00
Administration expenses 115,092,310.00 33,690,399.00 118,958,722.00 35,866,986.00
Financial expenses 221,270,745.00 92,449,880.00 150,080,837.00 71,132,078.00
Losses of devaluation of assets
Add ：Changing income of fair
value
Investment income 51,742,791.00 56,885,516.00 82,631,869.00 82,631,869.00
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广东电力发展股份有限公司 2012 年第一季度季度报告全文
Including：Investment income on
affiliate company and joint
venture
Exchange income
III. Operating profit 94,340,604.00 18,382,302.00 -16,035,902.00 58,273,546.00
Add ：Non-operating income 1,736,281.00 24,000.00 3,232,845.00 17,641.00
Less：Non-operating expense 336,354.00 282,880.00 1,590,069.00 1,552,705.00
Including :Disposal loss of
non-current assets
IV. Total profit 95,740,531.00 18,123,422.00 -14,393,126.00 56,738,482.00
Less：Income tax 31,899,083.00 0.00 6,207,910.00 -6,994,706.00
V. Net profit 63,841,448.00 18,123,422.00 -20,601,036.00 63,733,188.00
Net profit attributable to
58,784,105.00 18,123,422.00 12,721,156.00 63,733,188.00
owner’s equity of parent company
Minority shareholders’ gains
5,057,343.00 -33,322,192.00
and losses
VI. Earnings per share
（i）Basic earnings per share 0.021 0.005
（ii）Diluted earnings per share 0.021 0.005
VII. Other comprehensive income -11,812,281.00 -11,812,281.00 5,959,193.00 5,959,193.00
VIII. Total comprehensive income 52,029,167.00 6,311,141.00 -14,641,843.00 69,692,381.00
Total comprehensive income
attributable to the owner of the 46,971,824.00 6,311,141.00 18,680,349.00 69,692,381.00
parent company
Total comprehensive income
5,057,343.00 -33,322,192.00
attributable minority shareholders
For the enterprises under the same control consolidated in the report period, the net profit realized by the consolidate before the
consolidation is RMB 0.00.
4.3 Cash flow statement
Prepared by：Guangdong Electric Power Development Co., Ltd.
January-March 2012 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
4,481,269,651.00 919,752,220.00 3,356,069,674.00 892,789,828.00
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
insurance contract
Net cash received from
reinsurance business
Net increase of client
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广东电力发展股份有限公司 2012 年第一季度季度报告全文
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 1,253,092.00 0.00 2,399,936.00 139,496.00
Other cash received from
55,054,320.00 9,471,145.00 31,640,414.00 10,434,147.00
business operation
Sub-total of cash inflow 4,537,577,063.00 929,223,365.00 3,390,110,024.00 903,363,471.00
Cash paid for purchasing of
3,287,686,752.00 555,605,899.00 2,681,195,018.00 512,682,365.00
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
235,670,386.00 69,993,430.00 246,782,277.00 90,742,324.00
for staffs
Taxes paid 157,984,201.00 30,474,588.00 173,240,215.00 40,437,829.00
Other cash paid for business
83,950,387.00 19,912,583.00 68,209,596.00 25,300,647.00
activities
Sub-total of cash outflow from
3,765,291,726.00 675,986,500.00 3,169,427,106.00 669,163,165.00
business activities
Cash flow generated by business
772,285,337.00 253,236,865.00 220,682,918.00 234,200,306.00
operation, net
II.Cash flow generated by
investing
Cash received from investment
26,000,000.00 26,000,000.00 260,000,000.00 260,000,000.00
retrieving
Cash received as investment
5,373,808.00 6,750,912.00 7,781,537.00 7,781,537.00
gains
Net cash retrieved from disposal
of fixed assets, intangible assets, 6,480,350.00 174,787.00 4,280.00
and other long-term assets
Net cash received from disposal
of subsidiaries or other
operational units
Other investment-related cash
1,326,062.00
received
Sub-total of cash inflow due
37,854,158.00 32,750,912.00 269,282,386.00 267,785,817.00
to investment activities
Cash paid for construction of
fixed assets, intangible assets and 616,618,207.00 44,907,358.00 801,654,665.00 8,281,349.00
other long-term assets
Cash paid as investment 261,945,021.00 450,040,000.00 678,870,000.00
Net increase of loan against
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广东电力发展股份有限公司 2012 年第一季度季度报告全文
pledge
Net cash received from
subsidiaries and other operational
units
Other cash paid for investment
130,000.00 60,000.00 -4,950,013.00 197,356.00
activities
Sub-total of cash outflow due to
616,748,207.00 306,912,379.00 1,246,744,652.00 687,348,705.00
investment activities
Net cash flow generated by
-578,894,049.00 -274,161,467.00 -977,462,266.00 -419,562,888.00
investment
III.Cash flow generated by
financing
Cash received as investment 90,332,375.00 216,589,200.00
Incl: Cash received as
investment from minor
shareholders
Cash received as loans 3,685,669,589.00 1,184,100,000.00 5,597,688,000.00 2,670,000,000.00
Cash received from bond
placing
Other financing –related ash
1,205,541.00 630,525.00
received
Sub-total of cash inflow from
3,776,001,964.00 1,184,100,000.00 5,815,482,741.00 2,670,630,525.00
financing activities
Cash to repay debts 3,027,396,483.00 1,030,000,000.00 3,705,339,531.00 2,570,000,000.00
Cash paid as dividend, profit,
388,801,036.00 180,105,525.00 319,853,560.00 155,236,894.00
or interests
Incl: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing
25,996,874.00 383,348.00 55,171,400.00 5,171,000.00
activities
Sub-total of cash outflow due
3,442,194,393.00 1,210,488,873.00 4,080,364,491.00 2,730,407,894.00
to financing activities
Net cash flow generated by
333,807,571.00 -26,388,873.00 1,735,118,250.00 -59,777,369.00
financing
IV.Influence of exchange rate
alternation on cash and cash
equivalents
V.Net increase of cash and cash
527,198,859.00 -47,313,475.00 978,338,902.00 -245,139,951.00
equivalents
Add: balance of cash and cash
equivalents at the beginning of 2,182,660,514.00 417,749,940.00 1,894,021,204.00 659,395,980.00
term
VI .Balance of cash and cash
2,709,859,373.00 370,436,465.00 2,872,360,106.00 414,256,029.00
equivalents at the end of term
4.4 Auditor’ report
Auditor’s opinions: Not audited
10
