The Semi-annual Report 2012
I．Important Notes
The Board of directors and directors of the Company hereby guarantees that there are no false
records, 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 .
Disagreement claimed by the Directors, Supervisors or the Executives
Reason for unable to guarantee for the
Name Position thruthfulness, accuracy and completeness of the
report
Declaration：
Directors other than the followings presented the Board Meeting at which this report was examined.
Reason for not presenting the
Name of the director absented Position Name of consignee
meeting
Liu Qian Director business Pan Li
Li Zhuoxian Director business Gao Shiqiang
Li Mingliang Director business Lin Shizhuang
Rao Subo Director business Lin Shizhuang
Zhang Xueqiu Director business Liu Tao
Feng Xiaoming Independent director business Zhu Weiping
Auditors’ Opinions
The Semi-annual Report was not audited by CPA.
Mr. Pan Li, the responsible people of the Company, Ms. Li Xiaoqing, The Chief Financial fficer, and Mr. Qing Jingdong Manager of
accounting department declare: The Financial Report carried in this report is authentic and completed .
Paraphrase
Refers
Items Definition
to
Refers
II. Basic Information of the Company
（1）Company information
Code of A-Stock 000539 Code of B-Stock 200539
Stock A abbreviation Yue Dian Li A Stock B abbreviation Yue Dian Li Ｂ
Stock exchange for Shenzhen Stock Exchange
listing
Statutory name of the
广东电力发展股份有限公司
Company in Chinese:
Chinese abbreviation
Statutory name of the
GUANGDONG ELECTRIC POWER DEVELOPMENT CO.,LTD
Company in English
English abbreviation GED
Legal representative Pan Li
23-26/F, South Tower, Yudian Plaza , 2 Tianhe Dong Road, Guangzhou,
Registered address Guangdong Province
Post code 510630
23-26/F, South Tower, Yudian Plaza , 2 Tianhe Dong Road, Guangzhou,
Office Address:
Guangdong Province
Post code 510630
Website: http://www.ged.com.cn
E-mail ged@ged.com.cn
（2）Contact person and contact manner
Board secretary Securities affairs Representative
Name Liu Wei Zhang Shaomin
26/F, South Tower, Yudian Plaza , 26/F, South Tower, Yudian Plaza ,
Contact address 2 Tianhe Dong Road, Guangzhou, 2 Tianhe Dong Road, Guangzhou,
Guangdong Province Guangdong Province
Tel (020)87570276 （020）87570251
Fax （020）85138084 （020）85138084
E-mail liuw@ged.com.cn zhangsm@ged.com.cn
（3）Information disclosure and placed
Newspapers selected by the
Company for information China Securities Daily, Securities Times and Hong Kong
disclosure
Commercial Daily (overseas newspaper for English version).
Internet website designated by
CSRC for publishing the Interim http://www.cninfo.com.cn
report of the Company
The place where the Interim report is
prepared and placed
Office of board affairs
III. Highlights of financial data and indicators
（1）Highlights of financial data and indicators
Whether retroactive adjusted on previous financial report or not
□ Yes √ No
Main accounting data
Increase/decrease in this
Reporting period
Highlights accounting data Same period of last year report period
（January-June）
year-on-year(%)
Operating Gross income 7,826,479,881 6,470,761,685 20.95%
Operating profit 366,361,520 387,257,540 -5.4%
Total profit 413,093,472 388,818,024 6.24%
Net profit attributable to the shareholders
292,168,221 317,648,740 -8.02%
of the listed company
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 250,524,005 305,271,640 -17.93%
listed company
Cash flow generated by business operation,
1,948,724,416 1,057,308,604 84.31%
net
End of report year At the end of last year Changed over last year（％）
Gross Assets 40,496,085,419 39,480,195,392 2.57%
Shareholders’ equity attributable to
10,333,482,304 10,206,623,366 1.24%
shareholders of the listed company
Capital stock 2,797,451,138 2,797,451,138 0%
2.Main financial indices
Increase/decrease in this
Reporting period
Main financial indices Same period of last year report period
（January-June）
year-on-year(%)
Basic gains per share(RMB/Share) 0.1 0.11 -9.1%
Diluted gains per share(RMB/Share) 0.1 0.11 -9.1%
Basic earning per share after deducting of
0.09 0.11 -18.18%
non-recurring gains/losses(RMB/Share)
Diluted return on equity （%） 2.83% 3.11% -0.28%
Weighted average return on equity（%） 2.82% 3.08% -0.26%
Diluted return on equity after deducting
2.42% 2.99% -0.57%
non-recurring gains and losses（%）
Net income on asset, weighted and
2.42% 2.96% -0.54%
deducted non-recurring gain/loss(%)
Net cash flow per share generated by
0.7 0.38 84.21%
business operation (RMB/Share)
End of report year At the end of last year Changed over last year（％）
Net asset per share attributable to
shareholders of the listed 3.69 3.65 1.1%
company(RMB/Share)
Assets liabilities ratio(%) 66.84% 64.85% 1.99%
The information of main accounting data and main financial indices of the company by the end of
report period.(Filling the adjustment explanation if retroactive adjusted)
None.
（II）The differences between domestic and international accounting standards
1．Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed
in the financial reports of differences in net income and net assets.
□ Applicable√ Not applicable
2. Simultaneously pursuant to both Chinese accounting standards and overseas accounting standards disclosed in
the financial reports of differences in net income and net assets.
√Applicable □Not applicable
Unit：RMB
Net profit attributable to shareholders of the listed Owner equity attributable to shareholders of the
company listed company
Beginning of the report
Current term Same period last year End of the report year
year
Pursuant to Chinese
292,168,221 317,648,740 10,333,482,304 10,206,623,366
accounting standards
Subitem and total adjusted pursuant to international accounting standards:
Land use right amortization -3,736,000 -3,736,000 4,708,000 8,444,000
The difference arising from
recognition of goodwill after
64,623,000 64,623,000
merger of enterprises under
the same control
Difference arising from
recognition of land use value -315,000 -315,000 21,695,000 22,010,000
after enterprise merger
Influence on minority interests 348,000 348,000 4,054,000 3,706,000
Pursuant to International
288,465,221 313,945,740 10,428,562,304 10,305,406,366
accounting standards
3. Significant differences between line items
Explanation on IAS and (or)
Items with major differences Amount involved （RMB） Reasons for differences foreign accounting standards
involved
None
4. The explanation of accounting data from the Statement on differences between the IAS and Domestic
accounting Standard
1. Land use right amortization
The difference formed by different period of land use right amortization.
2.The difference arising from recognition of goodwill after merger of enterprises under the same control and recognition of land
value after enterprise merger.
As required by new Chinese accounting standards, the goodwill formed by the merger of enterprises under the same control shall not
be recognized and capital surplus shall be adjusted. Under IFRS, the golldwill formed by the merger of enterprises under the same
control shall be recognized and equal to the difference between merger cost and share of fair value of recognizable net assets of the
purchased party obtained in merger. Meanwhile, all assets of the purchased party obtained in merger shall be accounted for according
to their fair value while such assets shall be accounted for according to their book value according to original Chinese accounting
standards for business enterprises. Therefore, this difference will continue to exist.
3.Influence on minority interests
Housing reform loss occurred to the Company and some holding subsidiaries. Therefore, there’s some influence on minority
interests.
（III）Items and amount of deducted non-current gains and losses
√Applicable□ Not applicable
Items Amount（RMB） Notes
Gain/loss form disposal of non-current assets 42,348,939
Tax refund, deduction and exemption that is examined and
approved by authority exceeding or has no official approval
document.
Governmental Subsidy accounted as current gain/loss,
except for those subsidies at with amount or quantity fixed
4,423,146
by the national government and closely related to the
Company’s business operation.
Capital occupation fee collected from non-financial
organizations and accounted as current gain/loss.
Income from the exceeding part between investment cost of
the Company paid for obtaining subsidiaries associates and
joint-ventures and recognizable net assets fair value
attributable to the Company when acquiring the investment.
Non-monetary asset exchange gain/loss.
Gain/loss investment of Commission
Asset impairment provisions for force major such as natural
disasters
Gain/loss from debt reorganization
Enterprise reorganization expenses, such as payment to stuff
placement and consolidation expenses
Gain/loss from trades obviously departed from fair value
Net gain/loss of current term from consolidation of
subsidiaries under common control from beginning of term
to the consolidation date
Gain/loss from debt forcasting without connection to the
main business operation
In addition to normal business with the company effective
hedging related business, holders of tradable financial
assets, transactions and financial liabilities arising from
changes in fair value gains and losses, as well as the
disposal of trading of financial assets, trading financial
liabilities and available-for-sale financial assets gains return
on investment;
Single impairment test for impairment of receivables
transferred back to preparation
Commissioned external loans by the Gain/loss 14,240,369
The use of fair value measurement model of follow-up to
the fair value of real estate investment gains and losses
arising from changes
According to tax, accounting and other laws, regulations,
the requirements of the current Gain/loss for a one-time
adjustment of the impact of the current Gain/loss;
Entrusted with the operating of the trust to obtain fee
income
Net amount of non-operating income and expense except
-40,133
the aforesaid items
Other non-recurring Gains/loss items
Amount of influence of minority interests -18,738,022
Amount of influence of income tax -590,083
Total 41,644,216 --
Statement of the Company on “ Other gain/loss items satisfying the definitions of non-recurring gain/loss accounts” and the
non-recurring items defined as recurring items according to the nature and characteristics of the businesses.
Items Amount involved （RMB） Remarks
None
IV. Particulars about the Changes of Share Capital and Shareholders
(1)Particulars about the Changes of Share Capital
1.Statement of changes in shares
√Applicable□ Not applicable
Before the change Increase/decrease（+，-） After the Change
Amount Proportion Capitalizat
ion of
Share Bonus Proportio
common Other Subtotal Quantity
allotment shares n
reserve
fund
I. Share with conditional 143,464,2 143,464,2
5.13% 5.13%
subscription 15 15
1.State-owned shares
2.Staee-owned legal 138,216,3 138,216,3
4.94% 4.94%
person shares 22 22
3.Other domestic shares 5,244,196 0.19% 5,244,196 0.19%
Of which：Domestic
Non-state –owned legal 5,140,225 0.18% -175,500 -175,500 4,964,725 0.18%
person shares
Domestic natural person
103,971 0.01% 175,500 175,500 279,471 0.01%
shares
4.Share held by foreign
investors
Of which：Foreign legal
person shares
Foreign natural person
shares
5 .Executive shares 3,697 0% 3,697 0%
II. Shares with 2,653,986, 2,653,986
94.87% 94.87%
unconditional subscription 923 ,923
1,988,646, 1,988,646
1.Common shares in RMB 71.09% 71.09%
923 ,923
2.Foreign shares in 665,340,0 665,340,0
23.78% 23.78%
domestic market 00 00
3.Foregin shares in
overseas market
4.Other
2,797,451, 2,797,451
III. Total of capital shares 100% 100%
138 ,138
Approval of changes in shares(if applicable)
None.
Ownership transfer of changed shares
None.
Influence on latest EPS, net asset per share and other financial index from changes in shares(If applicable)
None
Other information necessary to be disclosed by the Company or should be disclosed according to requirement of securities regulators.
None.
2.Change in conditional shares
□ Applicable√ Not applicable
（II）The information of issuing shares
1. The information of issuing shares in the previous three years
√Applicable□ Not applicable
The name of The quantity
stocks and its Issuing price of permitted Transaction
Issuing date Issuing Quantity listing date
derivative （RMB/shares） listing terminated date
funds transaction
Stock
Yue Dian Li
May 12, 2010 5.94 138,047,138 May 25, 2010 0
A
Convertible bonds, Separable-traded convertible bonds, company bonds
None
Stock options
None
Statement of security issuing in latest three years(please state individually if different interest rates are applied to each bond)
None.
2. Change of asset and liability structure caused by change of total capital shares and structure
□ Applicable√ Not applicable
3.Current employees’ shares
□ Applicable√ Not applicable
（III）Shareholders and the substantial controller of the Company
1.Total of shareholders at the end of report term
Number of shareholding accounts at the end of report term was125,940.
2. Particulars about the shareholding of the top ten shareholders
Shui rich regions selected hybrid open securities investment fund
Particulars about the shareholding of the top ten shareholders
Nature of Quantity of Conditional Pledged or frozen
Name of shareholder Proportion (%)
shareholder shares held shares Status Quantity
Guangdong Yudean Group Co., State-owned
48.99% 1,370,472,480 138,216,322 0
Ltd. shares
Guangdong Guangfa Electric State-owned
3.64% 101,777,185 0 0
Power Investment Co., Ltd. shares
Guangdong Electric Power State-owned
2.81% 78,639,451 0 0
Development Corporation shares
Public legal
Guangdong Guangkong Group
person 0.83% 23,111,754 0 0
Co., Ltd
shares
Taifook Securities Company Foreign 0.56% 15,613,627 0 0
Limited-Account Client shares
China Construction Bank－
Public legal
Penghua Value Advantage
person 0.55% 15,484,373 0 0
Stock-linked
shares
Security Investment Fund
Agricultural Bank of China－ Public legal
Fullgoal Selected Mixed open person 0.52% 14,675,676 0 0
securities investment fund shares
Bank of China-E Fund Public legal
Shenzhen Stock Exchange 100 person 0.45% 12,658,465 0 0
Exchange Traded Fund shares
GOLDEN CHINA MASTER Foreign
0.45% 12,567,951 0 0
FUND shares
Public legal
103 Portfolio of National
person 0.43% 12,010,094 0 0
Social Security Fund
shares
Notes
Top 10 holders of unconditional shares
√Applicable□Not applicable
Amount of tradable Type and Quantity
shares with
Full name of shareholder unrestricted conditions
Type Quantity
held at the end of
report period
Guangdong Yudean Group Co., Ltd. 1,232,256,158 A shares 1,232,256,158
Guangdong Guangfa Electric Power Investment
101,777,185 A shares 101,777,185
Co., Ltd.
Guangdong Electric Power Development
78,639,451 A shares 78,639,451
Corporation
Guangdong Guangkong Group Co., Ltd 23,111,754 A shares 23,111,754
Taifook Securities Company Limited-Account
15,613,627 Bshares 15,613,627
Client
China Construction Bank－Penghua Value
Advantage Stock-linked 15,484,373 A shares 15,484,373
Security Investment Fund
Agricultural Bank of China－Fullgoal Selected
14,675,676 A shares 14,675,676
Mixed open securities investment fund
Bank of China-E Fund Shenzhen Stock
12,658,465 A shares 12,658,465
Exchange 100 Exchange Traded Fund
GOLDEN CHINA MASTER FUND 12,567,951 B shares 12,567,951
103 Portfolio of National Social Security Fund 12,010,094 A shares 12,010,094
Notes to the related relationship between the top ten shareholders or their concerted action
Guangdong Electric Power Development Co., Ltd. the Third of the top 10 shareholders, is a subsidiary of Yudean Group, Which is
the No.3 shareholder; its is unknown whether relationship exists between other shareholders.
3. Introduction to the controlling shareholder and actual controller
（1）The changing information of the controlling shareholder and actual controller
□ Applicable√ Not applicable
（2）The actual introduction to the controlling shareholder and actual controller
Whether exist new actual controller
□ Yes √ No
State-owned Assets Regulatory Commission under the People's
The Name of the actual controller
Government of Guangdong Province
Local State-owned Assets Supervision and Administration
The classification of actual controller
Commission
Explanation :
Yudean Group Co., Ltd. Holding 48.99% shares of the Company and is the major shareholder
of the Company. State-owned Assets Regulatory Commission under the People's Government of
Guangdong Province holds 76% equity of Guangdong Yudean Group Co., Ltd. and is the actual
controller of the Company. According to the Business License of Incorporated Enterprise verified
and issued by Guangdong Administration for Industry and Commerce, Yudean Group is a wholly
Limited Liability Company. Its registered capital is RMB 20,000,000,000 and its registered address
is 33-36/F Yudean Plaza, No.2 Tianhe Road East , Guangzhou,Guangdong Province. Its legal
representative is Mr. Pan Li. Its is mainly engaged in management and sales of the electricity
investment，construction，operation management，electricity power(Thermal Power)，The the
industry of transportation，resources，environmental protection，new source of energy，electricity
investment; investment planning and consulting ; information consulting service; sales of
production materials.
(3)The block diagram of the title and control relationship between the Company and actual
controller is as follows:
State-owned Assets Regulatory Commission under the People's Government of
Guangdong Province
100%
Guangdong Hengjian Investment China Huaneng Group Company
Co., Ltd.
76% 24%
Guangdong Yudean Group Co., Ltd.
100% 100%
Chaokang Investment Co., Guangdong Electric Power
Ltd. Development Co.
0.71 48.99% 2.81%
Guangdong Electric Power Development
Co.,Ltd
（4）Controlling over the Company by the substantial controller through trust or other asset management
□ Applicable√ Not applicable
4. The other legal person shareholders holding more than 10% shares of the Company.
□ Applicable√ Not applicable
（IV）Information of convertible corporate bonds
□ Applicable√ Not applicable
V. Directors, Supervisors, Senior Executives
（I）The changes of holding shares of the directors, supervisors and senior executives
The The Remuneratio
Number of Of which:
increased decreased Number of Final n drawn from
shares held at the number
Beginning date office Ending date of office number of number of shares held at numbers of Reason for shareholder
Name Position Sex Age the of restricted
term term shares on the shares on the the year-end stock options change entities or
year-begin stocks held
report period report period (shares） held（Shares） other related
（shares） （Shares）
（Shares） （Shares） parties or not
Board
Pan Li Male 58 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
chairman
Liu Qian Director Male 58 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Li Zhuoxian Director Male 49 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Hong
Director Male 55 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Rongkun
Zhong
Director Male 56 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Weimin
Gao
Director Male 55 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Shiqiang
Kong
Director Male 56 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Huitian
Li Minglang Director Male 48 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Lin General
Male 51 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
Shizhuang Manager
Wang Jin Director Male 49 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Rao Subo Director Male 48 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
Zhang
Director Male 46 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Xueqiu
Wang Jun Independent Male 54 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
director
Song Independent
Male 49 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
Xianzhong director
Independent
Zhu Weiping Male 55 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
director
Feng Independent Femal
57 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
Xiaoming director e
Independent
Liu Tao Male 41 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
director
Independent
Zhang Hua Male 47 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
director
Qiu Jianyi Supervisor Male 48 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
Femal
Zhao Li Supervisor 40 May 18, 2011 May 18, 2014 0 0 0 0 0 0 Yes
e
Sha Qilin Supervisor Male 52 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
Femal
Xiang Ying Supervisor 59 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
e
Lin Weifeng Supervisor Male 44 May 18, 2011 May 18, 2014 3,930 0 0 3,930 0 0 No
Tong Jianjun Supervisor Male 57 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
Luo Zhiheng Deputy GM Male 45 May 18, 2011 May 18, 2014 1,000 0 0 1,000 0 0 No
Femal
Li Xiaoqing Deputy GM 41 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
e
Femal
Liu Hui Deputy GM 47 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
e
Board
Liu Wei Male 33 May 18, 2011 May 18, 2014 0 0 0 0 0 0 No
secretary
Total -- -- -- -- -- 4,930 0 0 4,930 0 0 -- --
The directors, supervisors and senior managers did not implement equity incentives.
□Applicable√Not applicable
（II）Representation information
Representation of shareholders
√Applicable□Not applicable
Whether
receiving
Name Name of corporate shareholders Position Term start date Term terminated date
remuneration
or subsidy
Board chairman,
Pan Li Guangdong Yudean Group Co., Ltd. Secretary of Party February 9,2007 Yes
committee
Deputy General
Liu Qian Guangdong Yudean Group Co., Ltd. February 9,2007 Yes
Manager
Li
Guangdong Yudean Group Co., Ltd. General Manager January 26, 2010 Yes
Zhuoxian
Hong Deputy General
Guangdong Yudean Group Co., Ltd. Fenbruary 9,2007 Yes
Rongkun Manager
Zhong Vice Secretary of
Guangdong Yudean Group Co., Ltd. Fenbruary 9,2007 Yes
Weimin Party committee
Gao Deputy General
Guangdong Yudean Group Co., Ltd. Fenbruary 9,2007 Yes
Shiqiang Manager
Kong Chief economi
Guangdong Yudean Group Co., Ltd. February 26, 2009 Yes
Huitian st
Li Deputy General
Guangdong Yudean Group Co., Ltd. November 4, 2010 Yes
Mingliang Manager
Vice Chief
Wang Jin Guangdong Yudean Group Co., Ltd. engineer, Director November 1, 2010 Yes
of Operating Dept
Vice President of
Zhang Guangzhou Development Holding Group
Administration May 8, 2009 Yes
Xueqiu Co., Ltd.
Dept
Secretary of Audit
Qiu Jianyi Guangdong Yudean Group Co., Ltd. April 11, 2005 Yes
Supervise Dept
Vice Secretary of
Zhao Li Guangdong Yudean Group Co., Ltd. November 1, 2010 Yes
Finance Dept
The
explanation
of
Representa
tion of
shareholder
s
Representation in other unit
□Applicable√Not applicable
（III）Information of remuneration about Directors, Supervisors and Senior Executives
The determination
The allowance for the independent directors and independent supervisors of the Company shall be paid
of remuneration of
according to the standards approved by the shareholders' general meeting. The allowance for
Directors,
independent directors is RMB 80,000 per person each year and that for independent supervisors is RMB
Supervisors and
50,000 per person each year.
Senior Executives.
The rewards
Directors, supervisors and senior executives of the Company shall obtain labor remuneration and enjoy
determined basis of
corresponding employee benefits according to their position and the Company's wage system. Except
directors,
such remuneration and benefits, no other remuneration and fringe benefits shall be additionally
supervisors and
provided.
senior executives
The actual salary
payment
information of In the report period, the total amount of remuneration paid to independent directors, independent
Directors, supervisors and senior executives was RMB 1.7257 million.
Supervisors and
Senior
（IV）Information about changing Directors, Supervisors and Senior Executives
Name Jobs taken Changed Date of change Cause of change
None
（V）The Employees
Number of employees in position 1,414
Retired employees on the Company’s expense 415
Composition of professions
Categories of professions Number of persons
Production 907
Sales & Marketing 0
Technicians 279
Finance & Accounting 22
Executive 206
Education background
Categories of education Number of persons
Masters’ degree 10
Bachelors’ degree 315
College diploma 480
High school and below 609
Particulars about the employees
None.
V .Report of the Board of Directors
(I) Management discussion and analysis
In the report period, The growth rate of national economy has been lowering. The growth of electric power demand is lower than
expected. The power supply in Guangdong Province has been suppressed by the additional transmission of electricity in the western
area. Power generation enterprises are facing the situation of increasingly keen competition. In the first half year, the total electricity
consumption of Guangdong Province was 214.373 billion kwh, a year-on-year increase of 6.34%. The maximum load was RMB
74.957 million kw, a year-on-year increase of 5.97%. The year-on-year growth rate both somewhat slowed down. Under the
background of slowdown of electricity demand growth of Guangdong Province, the electricity in the west area has been additionally
transmitted in large quantity. The quantity of electricity purchased by Guangdong Province from the west area increased by 22.3%
year on year, which formed great pressure of peak regulation on units in Guangdong Province.
In the report period, Thanks to the contribution of additional units, the overall power output enjoyed certain growth. The
power output in terms of consolidated statements was 18.424 billion kwh, a year-on-year increase of 18.45%. The on-grid electricity
volume was 17.175 kwh, a year-on-year increase of 18.42%. 46.48% of the plan of on-grid electricity volume for the whole year was
fulfilled. On equity basis (including joint venture power plants), the power output and on-grid electricity volume of the Company
were 183.33 billion kwh and 17.163 billion kwh, which respectively increased by 24.03% and 23.86% year on year.
In the report period, Thanks to the rise in electricity rate and power output of additional units, power revenue increased
remarkably year on year. The operating income was RMB 7.826 million, a year-on-year increase of 20.95%. Due to year-on-year
increase of fuel cost caused by delayed report of coal price, the earning status of the Comapny has not been effectively improved. For
the report period, the operating profit of the Company and its net profit for the shareholders of the Company were RMB 366 million
and 292 million, which respectively decreased by 5.43% and 8.18% year on year.
In the report period, The Company continued to follow up the construction progress of the projects under construction, deeply
participated in the management of capital construction projects and tried to ensure the start of project operation as soon as possible.
The major capital construction projects followed up by the Company include the project of No. 7 unit (600WM) in Maoming and
Zhanjiang Yongshi wind power project (49.5WM) held by the Company and Weixin coal-electricity integration project (2X 600WM)
and Lincang Dayakou hydropower project (102WM) partly held by the Company. At present, the engineering construction of some
projects has entered into the last stage and they are about to become the new channels for profit growth of the Company.
In the report period, The significant asset reorganization scheme of the Company was examined and approved by CSRC.
Finally, the official approval was obtained from CSRC on June 28. The approval of this significant asset reorganization will create
important influence on the quick increase of assets and installation scale of the Company and enhancement of its asset quality and
profitability.
Description for above 20%of the company's actual business performance than the profit forecast
disclosed publicly during the reporting period
□ Yes √ No
Major subsidiaries of the company, shares of the company's operations and performance analysis
Shajiao A Power Plant, the Company's wholly-owned plant, achieved electricity generation
volume of 3.708 billion KWH and on-grid electricity generation volume of 3.437 billion KWH,
decrease by 11.08% and 11.14% respectively as compared to those of last year.
Zhanjiang Electric Power Co., Ltd. (“Zhanjiang Electric”), a 76% held subsidiary with a registered
capital of RMB 2875.44 million, is mainly engaged in power generation and construction of power
plant . For the end of report period, its total assets, net assets were RMB 4307.40 million and RMB
3871.56million respectively. In the report period, ,Its Main business income ,Main business profit
and net profit were RMB 1568.18 million, RMB171.07 million and RMB115.40 million
respectively. The Zhanjiang Power Plant owned by Zhanjiang Electric has achieved power
generation of3.596 billion KWH and on-grid electricity of 3.385 billion KWH, decrease by 1.91%
and 1.80% respectively compared to those of last year.
Guangdong Yuejia Electric Power Co., Ltd. (“Yuejia Electric”), a 58% held subsidiary, with a
registered capital of RMB 1200 million, is mainly engaged in power generation. For the end of report
period, its total assets and net assets were RMB840.18million, RMB 53.82respectively. In the report
period, Its Main business income, Main business profit and net profit were
RMB356.17million,RMB-1.52million and RMB6.79 million respectively. The Meixian Power Plant
owned by Guangdong Yuejia Electric has achieved power generation of 0.832 billion KWH and
on-grid electricity volume of 0.76 billion KWH, increase by 10.05 % and 9.51% respectively
compared to those of last year.
Guangdong Shaoguan Yuejiang Power Generation Co., Ltd. ("Yuejiang Electric Power") of
which the Company holds 65% equity has registered capital of RMB 770 million.It is mainly
engaged in power generation. For the end of report period, its total assets and net assets were RMB
2973.54 million and RMB269.37million respectively. In the report period, Its main business
income ,main business profit and Net profit were RMB722.14million , RMB3.58million and
RMB-49.62 million respectively. The power output and on-grid electricity volume of #10 and #11
unit of subsidiary Shaoguan Power Plant were 1.573 billion kwh and 1.451 billion kwh, a respective
decrease of 11.28% and 11.25 % year on year.
Maoming Zhenneng Thermal Power Co., Ltd. of which our company holds 58.27% equity has
registered capital of RMB 999.53 million and mainly engaged in power generation. For the end of report
period, its total assets and net assets were RMB 3414.87million and RMB990.08million respectively.
In the report period, its main business income ,main business profit and Net profit were
RMB647.62 million, RMB23.73 million and RMB -19.45 million respectively.The power output
and on-grid electricity volume of #5 and #6 unit of subsidiary Maoming Ruineng Thermal Power
Plant were 1.549 billion kwh and 1.433 billion kwh, a respective decrease of 11.94% and 1187 %
year on year.
Guangdong Yudean Jinghai Power Co., Ltd. , a 65% held subsidiary with a registered capital
of RMB 2919.27 million.It is mainly engaged in power generation. For the end of report period, its total
assets and net assets were RMB13275.88million and RMB3092.23 million respectively. In the
report period, Its Main business income, Main business profit and net profit were RMB1422.25
million , RMB247.91million and RMB 102.18 million respectively. Huilai Power Plant owned by
Yudean Jinghai Electric Power has achieved power generation of 3.394 billion KWH and on-grid
electricity volume of 3.193 billion KWH, increases by 0.38 % and 0.25% respectively compared to
those of last year.
The registered capital is RMB 1454.30 million of Zhanjiang Zhongyue Energy Co., Ltd. which our
company has 90% of its original holding. For the end of report period, its total assets and net assets were RMB6004.89 million and
RMB1197.21 million respectively. In the report period, Its Main business income, Main business profit and net profit were
RMB1475.92million,RMB159.44million and RMB12.04million respectively.
The affiliated company Zhanjiang orimulsion-fired power plant has finished the “oil changes coal” building and transformation by th
e second half of the year,has achieved power generation of 3.715 billion KWH and on-grid electricity volume of 3.464 billion KWH.
The registered capital of Shanxi Yuedian Energy Co., Ltd. of which the Company holds 40% equity is RMB 1000 million. It is
mainly engaged in coal investment, coal stock piling, loading and unloading at ports and intermediary services concerning
commodity logistics. On basis of 40% equity, the income for the report period was RMB 67.50 million.
The registered capital of Guangdong Yuedian Finance Co., Ltd. of which the Company holds 25% equity is RMB 2000 million.
It is mainly engaged in the businesses approved by China Banking Industry Regulatory Commission in accordance with relevant laws
and administrative regulations. On basis of 25% equity, the income for the report period was RMB 43.72 million.
The registered capital of Guangdong Red Bay Power Generation Co., Ltd. of which the Company holds 25% equity is RMB
2749.75 million. It is mainly engaged in power generation and power station construction. On basis of 25% equity, the income for the
report period was RMB 43.02 million. The power output and on-grid electricity volume of affiliated Shanwei Power Plant were
respectively 7.069 billion kwh and 6.663 billion kwh.
All the risk factors that maybe have adverse influence on the achievement of future development strategy and business objective of
the company
(1) In the first half of the year, part of industrial enterprises has short production due to the impact of slowdown of
national economy, which directly causes the electricity demand declined, and the subordinate power plants of the
company have un-ideal performance of the electricity generation capacity. But with the commission of other large
capacity of units and the pressure of west-to-east diversion in the second half of the year, the competition in the
electricity market within the province should be further sharp, and the production operation and management is
facing a critical challenge.
(2) The price of fuels has dropped slightly than previous year in the first half of the year, but the whole economic
trend in the second half of the year has an uncertainty. There still exists the possibility of rising for the fuel prices,
but the company still has the cost pressure of electricity generation business.
1.The Status of key business in terms of industry of business.
（1）The Status of key business in terms of industry and product of business.
Unit ：RMB
Change of
Increase/decr Increase/decr Gross profit
On industry Income from Cost of key Gross profit ease of key ease of key rate over the
or production key business business rate（％） business business cost same period
turnover（％） （％） of last year
（％）
In terms of business line
Sales Electric
Power,
heat supply 7,768,087,935 6,978,829,000 10.16% 21% 20.96% 0.03%
And Provision
services
In terms of product
Sales Electric
7,735,315,438 6,952,100,646 10.13% 20.77% 20.81% -0.03%
Power
heat supply
9,608,000 5,985,630 37.7%
Provision
23,164,497 20,742,724 10.45% 55.58% 39.73% 10.16%
services
The Status of key business in terms of industry and product of business.
The main business scope of the company is the investment, construction, operation and management of power, as
well as the production and sales of power and the management of large electricity generation companies. During
the report period, owing to the heating needs, Maoming Zhenneng Thermoelectricity Co. Ltd. has, 58.27％
controlled by the company, restored the heating business.
Description for the reasons of greater rise or fall range in gross profit rate year-over-year:
None.
（2）Main operation in terms of areas are as follows:
Unit：RMB
Increase/decrease of income
Area Income from key business
（％）
Guangdong 7,768,087,935 21%
The Status of main operation in terms of areas
None.
Description for the composition of main business
None.
（3）Reasons for the material change of key business and its structure
□Applicable√Not applicable
（4）Reasonsfor the material change of the profitability ( gross profit rate) of the key business
compared with the previous year
□Applicable√Not applicable
（5）Analysis of the reasons for the material change of profit structure compared with the previous
year
□Applicable√Not applicable
2.Internal controlling system related to accounting of fair value
□Applicable√Not applicable
3.Holding of financial assets and liabilities in foreign currency
□Applicable√Not applicable
（II）Investment of Company
1.The Company raised funds in the report period.
□Applicable√Not applicable
2.Commitments on projects of raised funds
□Applicable√Not applicable
3.Changes of projects of raised funds
□ Applicable√ Not applicable
4.Investment on major projects of non-raised funds
□ Applicable√ Not applicable
（III）Revising of business plan of the second half of year by the Board
□ Applicable√ Not applicable
（IV）Prediction of Business performance for Jan-Sept 2012.
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation of reason.
□ Applicable√ Not applicable
（V）The management’s remarks on the “non-standard opinions” by the auditors for the report
period
□ Applicable√ Not applicable
(VI)The management’s remarks on any changes in and results of issues related to the “non opinions”
by the auditors for the previous year.
□ Applicable√ Not applicable
（VII）Results of discussion by the Board on the causation and impact of change in accounting
policies and estimations or correction of material accounting errors..
□ Applicable√ Not applicable
（VIII）Establishment and Implementation of Cash Dividend Policy of the Company
During the report period, in accordance to the relevant provisions of China Securities Regulatory Commission
(CSRC), and considering reality of the company, the company has made amendment to the part of terms related to
the profit distribution policy in the “Articles of Association”, made further improvement and perfection on cash
dividend policy and formulated “Management System on Dividend Payment” and “Shareholder Returns Plan in
the Next Three Years (2012 to 2014)” which are approved on the First Extraordinary General Meeting of
Shareholders 2012, the decision-making procedure is transparent, and the relevant specifications and requirements
are met. Also, the company has strictly conformed to the “Articles of Association” to implement the profit
distribution policy, establish the cash dividend policy of the company, perform the provisions in line with the
“Articles of Association” and the resolution requirements of General Meeting of Shareholders, define and clarify
the standard and the proportion of dividend, have the relevant decision-making procedures and mechanisms
prepared completely, clarify the independent directors’ duties who can play the proper role, have the minority
shareholders fully owning the chances of expressing their views and argument, and make the legitimate rights and
interests of minority shareholders protected.
（IX）Profit distribution or capitalizing of common reserves
□ Applicable√ Not applicable
(X)Situation Of positive retained profit at end of 2011 but no cash dividend was proposed
□ Applicable√ Not applicable
（XI）Establishment and Implementation of the Registration and Management System on Learners
of Insider Information
In order to standardize the management of inside information, strengthen the confidentiality of inside information
and maintain the fair principle of information disclosure, the company has revised “Management System on Inside
Information” into “Management System on Inside Information and Learner” which shall have been examined and
passed by the 9th Meeting of the seventh Board of Directors held on July 25, 2012 and started to implement
according to the laws and regulations and the normative documents, such as “Corporate Law”, “Securities Law”,
“Information Disclosure Management Method of Listed Companies” of The China Securities Regulatory
Commission (CSRC), the “Provisions on Listed Company Formulating Management System on Learners of
Insider Information” and the “Listing Rules of Shenzhen Stock Exchange” and the relevant provisions of “Articles
of Association” and “Management System on Information Disclosure”.
In the report period, The company has strictly implemented the management system of inside information, and well
done the circulation, registration, disclosure, archiving and filing to the supervision departments for the inside
information as per the system. The Supervisory Board of the company has conducted the supervision for the
registration and management situations of inside information learners. After self-examination, the company has
not found the behavior that the inside learners deal with the company’s stocks during the sensitive period.
Whether implemented self-examination and accountability on insiders who dealing with stock of the Company as well as derivative
products
□ Yes √ No
Whether custody measurement and administration punishment on listed company and related staff from regulatory authorities in
aspect of implementation of registration management mechanism of insiders or inside trading involved or not.
□ Yes √ No
（XII）Other Disclosures
None.
（XIII）Liabilities, credit changes and cash arrangement for debt paying in later year(only applies to
listed company with corporate convertible bonds offered)
□ Applicable√ Not applicable
VII. Important Events
1.Governance of the Company
The company has strictly abided by the requirements of the laws and regulations and the normative documents,
such as “Corporate Law”, “Securities Law”, “Governance Rules of Listed Companies” and “Listing Rules of
Shenzhen Stock Exchange” to standardize the operations, continuously perfect the internal control system and the
corporate governance structure, ensure the system carried out and effectively implemented and improve the
governance level of the company.
During the report period, in accordance to the relevant requirements of “Notice on Further Implementation of the
Relevant Provisions of the Dividends of Listed Companies” of The China Securities Regulatory Commission
(Guangdong Securities and Futures [2012] No.91) transmitted by Guangdong Bureau of The China Securities
Regulatory Commission, and considering reality of the company, the company has made improvement and
supplement for the cash dividend policy, decision-making procedure, information disclosure, supervision
mechanism and other contents in the “Articles of Association”, and formulated the “Management System on
Dividend Payment” and “Shareholder Returns Plan in the Next Three Years (2012 to 2014)” which should be
started to implement after the approval of General Meeting of Shareholders.
According to the requirements of Document of “Notice on Special Inspection for the Implementation of Work
System on Secretary of the Board of Directors of Listed Companies” (Guangdong Securities and Futures [2012]
No.80) of Guangdong Bureau of The China Securities Regulatory Commission, the company has formulated
“Management System on Secretary of the Board of Directors”, and further clarified the duties, responsibility
management, position security and internal accountability mechanism of Secretary of the Board of Directors,
which are conducive to strengthening the management of Secretary of the Board of Directors, improving the
quality of information disclosure of the company and standardizing the operation levels.
（II）Dividend plans, reserve capitalizing plans, or share issuing plans proposed in previous period
and implemented in the current period.
√Applicable □Not applicable
The Company's profit distribution plan for 2011 was examined and adopted by its 2011 annual shareholders' general meeting on
May 18, 2012. The Company published Announcement of Interest Distribution for 2011 on designated media on June 30, 2012. The
stock right registration date is July 6, 2012 (July 11 for B shares). The ex-dividend date is July 9, 2012. Cash dividends were
distributed on July 9 (for A shares) and July 11 (for B shares).
（III）Material lawsuits
□ Applicable√ Not applicable
Not material lawsuits and arbitrations occurred in this period.
（IV）Bankruptcy or capital reorganizing
□ Applicable√ Not applicable
（V）Holding other PLC’S shares or participating of financial entities
1. Securities investment
□ Applicable√ Not applicable
Statement on securities investment
2. Holding of other PLC’S shares
√ Applicable □Not applicable
Changes of
Initial Profits or Subject of
Stock Proportion of Book value at owners’ Resource of
Stock code investment losses in the accounting
abbreviation shareholding period-end equity in the share
amount report period calculation
report period
Available for
sale Issued
000027 Shen Energy 16,949,674 0.32% 54,348,001 840,000 3,108,000
financial Obtained
assets
Available for
235,837,987. sale Transferee to
600642 Shenergy 1.28% 256,003,672 5,553,225 1,110,645
5 financial obtain
assets
252,787,661.
Total -- 310,351,673 6,393,225 4,218,645 -- --
5
Statement on holding of other PLC’s shares.
None.
3.Shareholding in non-listed financial entities
√ Applicable □Not applicable
Changes of
The Loss and gain
Initial owner’s Accounting
Name of proportion to Book value at in the Origin of
investment Number held equity in the calculation
subjects held the equity of period end reporting equity
amount reporting subjects
the company period
period
Guangdong 500,000,00 500,000,00 577,178,80 Long-term Initiated
25% 43,722,377 0
Yudean 0 0 2 investment establishment
Finance Co., on stocks
Ltd.
Sun
Long-term
Insurance 356,000,00 350,000,00 356,000,00 Initiated
5.34% 0 0 investment
Group Co., 0 0 0 establishment
on stocks
Ltd.
856,000,00 850,000,00 933,178,80
Total -- 43,722,377 0 -- --
0 0 2
Statement on shareholding in non-listed financial entities
None.
4.Trading of other PLC’S shares
□ Applicable√ Not applicable
Statement on trading of other PLC’S shares.
None.
（VI）Asset trade
1. Acquisition or swap in of assets
□ Applicable√ Not applicable
Statement on acquisition of assets.
None.
2. Disposal or swap out of assets
□ Applicable√ Not applicable
Statement on disposal of assets
None.
3.Asset exchange
□ Applicable√ Not applicable
Statement on asset exchange.
None.
4.Merger of entities
□ Applicable√ Not applicable
None.
5. The progress of the event after the publishing of asset reorganization report or announcement of
acquisition or disposal of assets and its influence on the operating results and financial status for the
report period.
√ Applicable □Not applicable
In the report period, The Company's application for significant asset reorganization concerning issuing shares to the controlling
shareholder to purchase assets was examined and approved by CSRC. At present, the Company is handling the procedures related to
assets delivery. It will try to complete the issue and listing of shares as soon as possible. This matter has not created influence on the
Company's operating results and financial position in the report period.
（ VII ） Statement on share increasing proposal raised by the holding shareholder or its
action-in-concert parties in the report period
□ Applicable√ Not applicable
（VIII）Implementation and influences of share equity incentive program
□ Applicable√ Not applicable
（IX）Important Related transactions
1.Related transactions related to daily operation
Details on Rights of Credit & Liabilities, please refer to the financial report “Seventh, Related parties and Related Transaction (5)
Related Transaction”
The Related transactions existing between the company and the affiliates mainly display on purchasing fuses and materials,
apportioning the common operating costs, accepting and offering labor services, selling the products, deposit and demanding
interests, and leasing the fields out, etc.
The pricing policy of the said related transaction:：For the price of fuel purchase, if the state sets a price, such price shall apply.
If the State does not set a price, market price shall apply. The related parties promised that the price offered would not be higher than
the price of products of the same quality offered to third parties. The price of materials shall be settled according to market price.
Labor services/services are accepted and provided at the price agreed by both parties according to cost price and by reference to the
market price of similar services. Products are sold at the price agreed by both parties according to cost and by reference to the market
price of similar products. Relevant regulations of People's Bank of China apply to deposits. Site rent is collected in the mode
agreed by all parties based on cost price.
The said related transactions were settled in cash and did not have unfavorable influence on the profit of
the Company. There is no significant difference from estimated related transactions.
2.Related transactions related to asset purchasing or disposal
□ Applicable√ Not applicable
3.Material related transactions related to collaborated external investment
√ Applicable □Not applicable
Net profit Progress of
Main
Registered capital Asset scale of of the significant
operation
Joint investing Name of the invested of the invested the invested invested projects of the
Relationship of the
party enterprise enterprise（RMB enterprise（RMB enterprise invested
invested
million) million) （RMB enterprise under
enterprise
million) construction
Power
plant
constructio
Guangdong n,
Maoming Zhenneng
Electric Power production
Thermal Power Co., 99,953 341,487 -1,945
Development and
Ltd.
Company operation,
sales of
steam and
byproducts
Statement on Material related transactions related to collaborated external investment
4. Credits/Debts with Related Parties
□ Applicable√ Not applicable
Fund occupation and progress of paying off
□ Applicable√ Not applicable
Till end of reporting period, accountability plan proposed by the Board for completed no non-operational fund occupation from listed
company
□ Applicable√ Not applicable
Other Important Related transactions
5.
None.
（X）Important contracts and their performance
1.Trusteeship , contract, or leasing issues which contributes 10% or over of total profit of the period
（1）Trusteeship
□ Applicable√ Not applicable
（2）Contracts
□ Applicable√ Not applicable
（3）Leasing
□ Applicable√ Not applicable
2.Guarantees
√Applicable □ Not applicable
Unit：RMB’0000
External Guarantee (Exclude controlled subsidiaries)
Guarante
Relevant e
Date of
disclosure Complete for
happening Actual
Name of the date/No. of Amount of Guarantee Guarantee implemen associate
(Date of mount of
Company the Guarantee type term tation d
signing guarantee
guaranteed or not parties
agreement)
amount (Yes or
no)
Lincang
YuntouYudean
July 22, December 25, Guaranteein
Hydroelectricity 3,430 2,401 15 years No No
2006 2006 g
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang
May 24, November Guaranteein
Hydroelectricity 2,900 2,900 14 years No No
2007 30,2007 g
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang
May 24, November 30, Guaranteein
Hydroelectricity 1,305 1,305 11 years No No
2007 2007 g
Development Co.,
Ltd.
Yunnan Baoshan May 24, November 30, Guaranteein
1,450 1,450 8 years No No
Binlangjiang 2007 2007 g
Hydroelectricity
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang
May 24, December 19, Guaranteein
Hydroelectricity 4,350 4,350 17 years No No
2007 2007 g
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang
December December 25, Guaranteein
Hydroelectricity 4,350 4,350 15 years No No
19, 2007 2007 g
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang
December Guaranteein
Hydroelectricity 12,000 March 18, 2008 12,000 20 years No No
19, 2007 g
Development Co.,
Ltd.
Lincang
YuntouYudean
July 22, Guaranteein
Hydroelectricity 1,372 July 29,2008 960 12 years No No
2006 g
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang
August 22, October 31, Guaranteein
Hydroelectricity 5,800 5,800 17 years No Yes
2008 2008 g
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang
November November 14, Guaranteein
Hydroelectricity 7,250 7,250 12 years No No
12, 2008 2008 g
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang
May 27, Guaranteein
Hydroelectricity 17,400 May 27, 2009 7,250 14 years No No
2009 g
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang May 27, Guaranteein
11,600 June 22, 2009 9,367 20 years No Yes
Hydroelectricity 2009 g
Development Co.,
Ltd.
Weixin Yuntou
August 29, September 22, Guaranteein
Yudean Zhaxi 20,000 20,000 5 years No Yes
2009 2009 g
Energy Co., Ltd.
Yunnan Baoshan
Binlangjiang
May 27, Guaranteein
Hydroelectricity 7,250 June 23, 2010 7,250 5 years No No
2010 g
Development Co.,
Ltd.
Yunnan Baoshan
Binlangjiang
September December 16, Guaranteein
Hydroelectricity 14,500 14,500 10 years No No
10,2010 2010 g
Development Co.,
Ltd.
Weixin Yuntou
March 8, Guaranteein
Yudean Zhaxi 93,680 March 27, 2012 33,480 15 years No No
2012 g
Energy Co., Ltd.
Total amount of approved Total actually amount of
external guarantee in the report -63,520 external guarantee in the 33,480
period(A1) report period(A2)
Total amount of approved Total actually amount of
external guarantee at the end of 267,637 external guarantee at the end 134,613
the report period(A3) of the report period(A4)
Guarantee of the company for its subsidiaries
Guarante
Related Date of Complete
Actually e for
Name of the announcem Amount of happening(date Guarantee Guarantee implemen
guarantee related
company guaranteed ent date and guarantee of signing type term tation or
amount party(yes
no. agreement) not
or no)
Zhongyue Energy November September 29, Guaranteein
117,000 54,000 12 years No No
Co., Ltd. 11, 2010 2010 g
Zhongyue Energy November Guaranteein
117,000 January 3, 2011 9,000 12 years No No
Co., Ltd. 11, 2010 g
Zhongyue Energy November Guaranteein
117,000 March 24, 2011 18,000 12 years No No
Co., Ltd. 11, 2010 g
Guangdong
Yudean
April 29, Guaranteein
Zhanjiang 15,700 March 4, 2011 13,200 20 years No Yes
2009 g
Wind Power
Co., Ltd.
Guangdong
Shaoguan Yuejiang June 29, Guaranteein
32,500 July 28, 2011 23,075 7 years No No
Generate electricity 2011 g
Co., Ltd.
Total of guarantee for subsidiaries Total of actual guarantee for
0 0
approved in the period(B1) subsidiaries in the period (B2)
Total of guarantee for subsidiaries Total of actual guarantee for
165,200 117,275
approved at period-end(B3) subsidiaries at period-end(B4)
Total of company’s guarantee(namely total of the large two aforementioned)
Total of guarantee approved in the Total of Actual guarantee in
-63,520 33,480
period(A1+B1) the period(A2+B2
Total of guarantee approved at the Total of actual guarantee at
432,837 251,888
period-end(A3+B3) the period-end（A4+B4）
The proportion of the total amount guarantee in the net assets of
24.38%
the company(that is A4+B4)
Including：
Amount of guarantee for shareholders, actual controller and its
13,200
associated parties(C)
The debts guarantee amount provided for the
Guaranteed parties whose assets-liability ratio exceed 238,688
70% directly or indirectly(D)
Proportion of total amount of guarantee in net assets of
0
the Company exceed 50%(E)
Total guarantee amount of the abovementioned
251,8888
guarantees(C+D+E)
Explanations on possibly bearing joint and several liquidating
None
responsibilities for undue guarantees
Remarks on illegal providing of external guarantee None
3.Entrusted capital management
□ Applicable√ Not applicable
4.Performing of material contracts
5.Other material contracts
□ Applicable√ Not applicable
（XI）Statement on issuing of company bonds
√Applicable □ Not applicable
Construction Bank of China Co., Ltd. authorized its Guangdong Branch to provide full-amount unconditional irrevocable
guarantee of joint and several liabilities for the honoring of the principal and interest of corporate bonds issued by the Company. The
guarantor has made profit continuously and its asset scale has kept increasing. There has been no material unfavourable change in
credit status.
The Company's credit status has not changed apparently. At the end of the report period, the assets-liabilities ratio of the
Company was 66.84%. 公On March 12, 2012, the Company paid the interest of corporate bonds for the fourth interest period. In the
future, the Company will continue to provide guarantee for the debt service concerning its corporate bonds through steady
development of its own business.
China International Finance Co., Ltd., the trustee of the bonds of the Company, published annual report on entrusted
management of bonds on April 26, 2012. The content of the report includes the Company's operating status, condition of assets,
condition of use of proceeds raised through issue of bonds, follow-up rating of bonds, etc.
(XII)Fulfilling of commitments
1.Commitments made by the Company or shareholders holding above 5% shares of the Company in reporting
period or extending to reporting period.
√Applicable □ Not applicable
Items of Promise Implement
Content of commitments Date Time
commitments e ation
Promise in
share holding
N/A N/A N/A
structure
reform
Commitments
made in
Acquisition
Report or N/A N/A N/A
Reports on
Change in
interests
Commitments
made in
Material N/A N/A N/A
assets
Reorganizatio
n
①Yue Dian Li is the only platform of listing for integration of
power generation assets in Yudean Group.
② After the completion of this reorganization, it is unsuitable to
inject the remaining power generation assets in China controlled by
Yuedian Group due to various problems including imperfectness of
procedures of examination and approval, status of profit making,
provisions of cooperation agreement and use of land, except Yue
Dian Li and the power generation assets controlled by it. According
to the status of solution of the above-mentioned problems, Yuedian
Guangdo
Group will gradually inject the assets qualified for listing into Yue
Commitments ng
Dian Li through assets merger and acquisition or reorganization in November Under
made in Yudean
the next 5 years and finally realize the overall listing of its power 3, 2011 fulfillment
issuing Group
generation assets in China.
Co., Ltd.
③ During the injection of power generation assets into Yue Dian
Li, Yuedian Group will first support Yue Dian Li in respect of
power supply project development, capital operation, assets merger
and acquisition, etc.
④ Yudean Group will continue to fulfill all commitments of
supporting the development of Yue Dian Li that were made by it
before.
Other
commitm 138,047,138 RMB ordinary shares (A shares) privately issued by
ents Guangdo the Company to Guangdong Yudean Group Co., Ltd., its
offered to ng controlling shareholder, were listed at Shenzhen Stock Exchange
May 25, Under
the Yudean from May 25, 2010. Yudean Group promised not to assign the 3 years
2010 fulfillment
company’ Group stocks of Yue Dian Li owned by it within 36 months from the said
s minority Co., Ltd. day of listing.
sharehold
ers
Whether
the
commitm
ents √ Yes □ No
fulfilled in
a timely
manner
The
specific
reason for
the
unfinished N/A
commitm
ents and
the next
step
Whether
leads to
competiti
on and the
problem
of related √Yes □No
party
transactio
n
commitm
ent
Committe
d settled N/A
deadline
Solution
N/A
way
Commitm
ents fulfill N/A
status
2.Explanation on assets or projects that reached the original profit forecast as well as its reasons while the
reporting period still in forecast period, and there are profit forecast on assets or projects of the Company.
□ Applicable√ Not applicable
（XIII）Other misc. income subjects
Unit：RMB
Items Occurred current term Occurred in previous term
1．Gains(losses)from sellable financial assets 4,218,645 -8,219,537
Less：Income tax influence of sellable financial assets -1,054,661 2,054,884
Net amount written into other gains and transferred into gain/loss in
previous terms
Subtotal 3,163,984 -6,164,653
2．Shares in the other misc. income subjects in the investee on equity
basis
Less：income tax influence of shares in other gains of investees on
equity basis
Net amount written into other gains and transferred into gain/loss in
previous terms
Subtotal
3．Amount of gains(or losses) from cash flow hedge instrument
Less: Income tax influence of cash flow hedge instruments
Net amount written into other gains and transferred into gain/loss in
previous terms
Adjusted amount transferred to initial amount of the target project
Subtotal
4．Difference from translating of foreign currency financial statements
Less: Net amount of disposing overseas Business and transferred to
current gain/loss
Subtotal
5．Other
Less：Income tax influence by other accounted into other misc. incomes
Net amount accounted into other misc. income and transferred into
current gain/loss in previous terms
Subtotal
Total 3,163,984 -6,164,653
（XIV）The registration form of acceptance of investigation, communication and interview in the report period for
future reference
Content of discussion and
Date Place Mode Type Visitor
materials provided
Office of the Current status of
March 20, 2012 Onsite investigation Institution Boshi Fund
Company production,management
Yongrong
Office of the Assets Current status of
March 28, 2012 Onsite investigation Institution
Company Management production,management
Co., Ltd.
Office of the Current status of
June 6, 2012 Onsite investigation Institution Guangfa fund
Company production,management
Office of the Industrial Current status of
June 19, 2012 Onsite investigation Institution
Company Securities production,management
（XV）Engagement and removal of certified public accountants
If the Semi-annual Report is audited
□ Yes √ No
（XVI）Punishment on the Company and/or the directors, supervisors, executives, shareholders,
substantial controller, and purchasers, and correcting of misbehaviors
□ Applicable√ Not applicable
（XVII）Other Material events
□ Applicable√ Not applicable
（XVIII）Material change in profit ability, asset, and credit situation of the guarantor of the
convertible bonds
（Only applies to listed company with corporate convertible bonds offered）
□ Applicable√ Not applicable
（XIX）Index for information disclosed
Name and layout of Website for publishing and searching
Matter Date of publishing
newspapers for publishing path
China Securities Daily,
Announcement of Securities Times and
Resolutionsof the First Hong Kong
January 21, 2012 http://www.cninfo.com.cn
Meeting of the Seventh Board Commercial Daily
of Directors in 2012 (overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Announcement on External Hong Kong
January 21, 2012 http://www.cninfo.com.cn
Investment Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Forenotice of Earnings Hong Kong January 21, 2012 http://www.cninfo.com.cn
Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Announcement ofProgress
Hong Kong
ofsignificant asset February 10,2012 http://www.cninfo.com.cn
Commercial Daily
Reorganiation
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Announcement of Interest Hong Kong
March 3, 2012 http://www.cninfo.com.cn
Payment for Yudean bonds Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Announcement of Resolutions
Hong Kong
of the 7th Meeting of the March 8, 2012 http://www.cninfo.com.cn
Commercial Daily
Seventh Board of Directors
(overseas newspaper
for English version).
China Securities Daily,
Announcement of Resolutions Securities Times and
of the 4th Meeting of the Hong Kong
March 8, 2012 http://www.cninfo.com.cn
Seventh Supervisory Commercial Daily
Committee (overseas newspaper
for English version).
China Securities Daily,
Related Transaction Securities Times and
Announcement with Hong Kong
March 8, 2012 http://www.cninfo.com.cn
Guangdong Yudean Commercial Daily
Finance Co., Ltd. (overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Announcement On External Hong Kong
March 8, 2012 http://www.cninfo.com.cn
Guarantee Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Announcement of change of
Securities Times and
accounting Policies
Hong Kong March 8, 2012 http://www.cninfo.com.cn
Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Summary of 2011 Annual Hong Kong
March 8, 2012 http://www.cninfo.com.cn
Report Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Hong Kong
Forenotice of Earnings April 14, 012 http://www.cninfo.com.cn
Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Announcement of Securities Times and
Resolutions of the 8th Hong Kong
April 26, 2012 http://www.cninfo.com.cn
Meeting of the Seventh Commercial Daily
Board of Directors (overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Announcement of the
Hong Kong
April 26, 2012 http://www.cninfo.com.cn
Related Party Transactions Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Announcement of Notice of
Hong Kong
2011 Shareholders’ General April 26, 2012 http://www.cninfo.com.cn
Commercial Daily
Meeting
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
The First Quarterly Report Hong Kong
April 26, 2012 http://www.cninfo.com.cn
2012 Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Suggestive announcement of Securities Times and
Holding of 2011 annual Hong Kong May 14, 2012 http://www.cninfo.com.cn
shareholders’ General Meeting Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Announcement of Resolutions
Hong Kong
of 2011 Annual shareholders’ Ma 18, 2012 http://www.cninfo.com.cn
Commercial Daily
General Meeting
(overseas newspaper
for English version).
Yue Dian Li's Announcement
of Suspension of Listing Due to China Securities Daily,
Examination of the Company's Securities Times and
Issue of Shares to Purchase Hong Kong
May 23, 2012 http://www.cninfo.com.cn
Assets and Related Transaction Commercial Daily
by Merger, Acquisition and (overseas newspaper
Reorganization Committee of for English version).
CSRC
China Securities Daily,
Announcement of
Securities Times and
Resolutions of the
Hong Kong
Second Meeting of the May 25, 2012 http://www.cninfo.com.cn
Commercial Daily
Seventh Board of
(overseas newspaper
Directors in 2012
for English version).
Announcement on Related China Securities Daily,
Securities Times and
Transaction Concerning Hong Kong
May 25, 2012 http://www.cninfo.com.cn
Acquisition of Capacity Commercial Daily
(overseas newspaper
Quota of Shut-down Units for English version).
China Securities Daily,
Announcement on CSRC's Securities Times and
Approval of the Application for Hong Kong
May 30, 2012 http://www.cninfo.com.cn
Issue of Shares to Purchase Commercial Daily
Assets and Related Transaction (overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Announcement On Electricity Hong Kong
June 12, 2012 http://www.cninfo.com.cn
Rate Ajustment Commercial Daily
(overseas newspaper
for English version).
Announcement on CSRC's China Securities Daily,
Approval of the Application for Securities Times and June 30, 2012 http://www.cninfo.com.cn
Issue of Shares to Purchase Hong Kong
Assets Commercial Daily
(overseas newspaper
for English version).
China Securities Daily,
Securities Times and
Yue Dian Li's Announcement
Hong Kong
of Dividend Distribution for June 30, 2012 http://www.cninfo.com.cn
Commercial Daily
2011
(overseas newspaper
for English version).
XIII. Financial Report
1 Auditor's report
If the interim report is audited
□ Yes v No
2.Financial statements
Consolidated or not：
√Yes □ No
All figures in the financial statements are in RMB yuan except fro otherwise stated.
All figures in the Notes to the financial statements are in RMB yuan.
1. Consolidated Balance sheet
Prepared by：Guangdong Electric Power Development Co., Ltd.
Unit ：RMB
Items Notes Year-end balance Year-beginning balance
Current asset：
Monetary fund 2,772,677,837 2,182,660,514
Settlement provision
Outgoing call loan
Trading financial assets 0
Bill receivable 0
Account receivable 1,411,101,269 1,657,325,697
Prepayments 943,794,646 321,693,491
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance
contracts receivable
Interest receivable 981,921 1,071,844
Dividend receivable 12,032,000 96,079,553
Other account receivable 148,609,606 97,964,732
Repurchasing of financial
assets
Inventories 1,210,537,221 1,410,576,820
Non-current asset due in 1
year
Other current asset 913,592,886 969,425,199
Total of current assets 7,413,327,386 6,736,797,850
Non-current assets：
Loans and payment on
other’s behalf disbursed
Disposable financial asset 310,351,673 306,133,028
Expired investment in
possess
Long-term receivable 521,179,550 482,006,891
Long term share equity
5,752,378,636 5,812,518,793
investment
Property investment 11,792,428 12,110,227
Fixed assets 14,239,447,538 14,866,672,176
Construction in progress 10,623,246,045 9,159,945,080
Engineering material 641,479,735 1,023,682,015
Fixed asset disposal 46,019,975 4,164,516
Production physical assets
Gas & petrol
Intangible assets 478,272,659 491,722,772
R & D petrol
Goodwill
Long-germ expenses to be
amortized
Differed income tax asset 96,909,186 96,909,186
Other non-current asset 361,680,608 487,532,858
Total of non-current assets 33,082,758,033 32,743,397,542
Total of assets 40,496,085,419 39,480,195,392
Current liabilities
Short-term loans 9,286,600,000 9,318,000,000
Loan from Central Bank
Deposit received and hold for
others
Call loan received
Trade off financial liabilities
Bill payable 691,160,000 343,083,604
Account payable 3,269,982,458 3,449,859,930
Advance payment 9,810,640 2,315,543
Selling of repurchased
financial assets
Fees and commissions
receivable
Employees’ wage payable 267,250,232 205,462,922
Tax payable 83,002,572 65,250,662
Interest payable 71,526,444 122,666,756
Dividend payable 180,064,470 15,552,964
Other account payable 867,633,871 817,248,933
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1
968,382,437 940,141,518
year
Other current liability
Total of current liability 15,695,413,124 15,279,582,832
Non-current liabilities：
Long-term loan 7,272,973,658 7,167,153,408
Bond payable 1,992,793,519 1,991,442,304
Long-term payable 2,059,094,307 1,741,163,487
Special payable
Expected liabilities
Differed income tax liability 3,674,601 2,619,939
Other non-current liabilities 45,567,072 46,730,522
Differed income 11,374,103,157 10,949,109,660
Total of liability 27,069,516,281 26,228,692,492
Owners’ equity
Share capital 2,797,451,138 2,797,451,138
Capital reserves 1,851,256,357 1,848,718,571
Less：Shares in stock
Special reserves
Surplus reserves 3,955,568,618 3,775,481,032
Common risk provision
Undistributed profit 1,729,206,191 1,784,972,625
Different of foreign currency
translation
Total of owner’s equity belong to
10,333,482,304 10,206,623,366
the parent company
Minority shareholders’ equity 3,093,086,834 3,044,879,534
Total of owners’ equity 13,426,569,138 13,251,502,900
Total of liabilities and owners’
40,496,085,419 39,480,195,392
equity
Legal representative ：Pan Li Person-in-charge of the accounting work：Li Xiaoqing Person-in -charge of the
accounting organ：Qin Jingdong
2. Balance sheet of the Parent Company
Unit：RMB
Items Notes Year-end balance Year-beginning balance
Current asset：
Monetary fund 579,244,486 417,749,940
Trading financial assets
Bill receivable
Account receivable 295,707,611 348,032,141
Prepayments 222,149,545 178,078,582
Interest receivable 12,515,139 5,701,784
Dividend receivable 138,380,529 105,234,649
Other account receivable 344,602,860 273,092,240
Inventories 167,226,823 192,183,732
Non-current asset due in 1
year
Other current asset 1,524,259 35,837,879
Total of current assets 1,761,351,252 1,555,910,947
Non-current assets：
Disposable financial asset 310,351,673 306,133,028
Expired investment in
possess
Long-term receivable 523,780,000 423,780,000
Long term share equity
13,315,662,580 13,118,857,714
investment
Property investment 11,792,428 12,110,227
Fixed assets 1,005,567,882 1,086,238,084
Construction in progress 220,435,353 88,123,240
Engineering material
Fixed asset disposal 18,154,154
Production physical assets
Gas & petrol
Intangible assets 106,103,015 107,842,409
R & D petrol
Goodwill
Long-germ expenses to be
amortized
Differed income tax asset
Other non-current asset
Total of non-current assets 15,511,847,085 15,143,084,702
Total of assets
Current liabilities
Short-term loans 2,929,100,000 3,075,000,000
Trade off financial liabilities
Bill payable
Account payable 645,659,771 469,788,433
Advance payment 2,550,000 1,831,135
Employees’ wage payable 64,555,082 42,398,999
Tax payable 8,625,076 14,826,004
Interest payable 50,692,813 110,857,332
Dividend payable 175,134,803 7,323,298
Other account payable 105,578,989 47,816,643
Non-current liability due in 1
40,000,000 40,000,000
year
Other current liability
Total of current liability 4,021,896,534 3,809,841,844
Non-current liabilities：
Long-term loan 1,250,000,000 1,090,000,000
Bond payable 1,992,793,519 1,991,442,304
Long-term payable
Special payable
Expected liabilities
Differed income tax liability 3,674,601 2,619,939
Other non-current liabilities 30,567,072 29,508,307
Total of Non-current liabilities 3,277,035,192 3,113,570,550
Total of liability 7,298,931,726 6,923,412,394
Owners’ equity
Share capital 2,797,451,138 2,797,451,138
Capital reserves 1,785,707,538 1,782,543,554
Less：Shares in stock
Special reserves
Surplus reserves 3,955,568,618 3,775,481,032
Undistributed profit 1,435,539,317 1,420,107,531
Different of foreign currency
translation
Total of owners’ equity 9,974,266,611 9,775,583,255
Total of liabilities and owners’
17,273,198,337 16,698,995,649
equity
3. Consolidated Profit statement
Unit：RMB
Items Notes Report period Same period of the previous year
I. Income from the key business 7,826,479,881 6,470,761,685
Incl：Business income 7,826,479,881 6,470,761,685
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 7,729,840,255 6,382,188,878
Incl：Business cost 6,997,972,389 5,797,248,108
Interest expense
Fee and commission paid
Insurance discharge
payment
Net claim amount paid
Insurance policy dividend paid
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 25,656,761 36,936,079
Sales expense 714,612 325,957
Administrative expense 259,461,977 252,607,719
Financial expenses 446,034,516 295,071,015
Asset impairment loss
Add：Gains from change of
fir value （“-”for loss）
Investment gain（“-”for loss） 269,721,894 298,684,733
Incl: investment gains from
affiliates
Gains from currency
exchange（“-”for loss）
III. Operational profit（“-”for
366,361,520 387,257,540
loss
Add：Non-business income 47,922,349 6,819,739
Less：Non business expenses 1,190,397 5,259,255
Incl：Loss from disposal of
18,000 2,609,459
non-current assets
IV.Total profit(“-”for loss) 413,093,472 388,818,024
Less：Income tax expenses 75,884,101 65,133,726
V. Net profit（“-”for net loss 337,209,371 323,684,298
Including: Net profit realized by
the entity taken over before the
takeover
Net profit attributable to the
292,168,221 317,648,740
owners of parent company
Minority shareholders’
45,041,150 6,035,558
equity
VI. Earnings per share： -- --
（I）Basic earnings per share 0.1 0.11
(II)Diluted earnings per share 0.1 0.11
VII. Other comprehensive income 3,163,984 -6,164,653
VIII. Total comprehensive income 340,373,355 317,519,645
Total comprehensive income
attributable to the owner of the 295,332,205 311,484,087
parent company
Total comprehensive income
45,041,150 6,035,558
attributable minority shareholders
Enterprise combination under same controlling at the end of current period. the net profit for the
enterprise to be combined is 0.00.
Legal representative ：Pan Li Person-in-charge of the accounting work：Li Xiaoqing Person-in -charge of the
accounting organ：Qin Jingdong
4. Profit statement of the Parent Company
Unit：RMB
Items Notes Report period Same period of the previous year
I. Income from the key business 1,544,981,110 1,681,819,565
Incl：Business cost 1,387,282,791 1,468,983,247
Business tax and surcharge 5,994,320 9,068,500
Sales expense 263,005 173,989
Administrative expense 68,732,493 67,289,264
Financial expenses 196,319,231 157,262,297
Asset impairment loss
Add：Gains from change of
fir value （“-”for loss）
Investment gain（“-”for loss） 476,013,186 579,587,353
Incl: investment gains from
affiliates
II. Operational profit（“-”for
362,402,456 558,629,621
loss
Add：Non-business income 1,991,782 1,556,102
Less：Non business expenses 1,027,797 2,522,749
Incl：Loss from disposal of
non-current assets
III.Total profit(“-”for loss) 363,366,441 557,662,974
Less：Income tax expenses 0 -1,577,252
IV. Net profit（“-”for net loss） 363,366,441 559,240,226
V. Earnings per share： -- --
（I）Basic earnings per share
(II)Diluted earnings per share
VI. Other comprehensive income 3,163,984 -6,164,653
VII. Total comprehensive income 366,530,425 553,075,573
5. Consolidated Cash flow statement
Unit ：RMB
Items Report period Same period of the previous year
I.Cash flows from operating activities
Cash received from sales of goods or
9,395,461,209 7,730,790,288
rending of services
Net increase of customer
deposits and capital kept for
brother company
Net increase of loans from
central bank
Net increase of inter-bank
loans from other financial bodies
Cash received against original
insurance contract
Net cash received from
reinsurance business
Net increase of client deposit
and investment
Net increase of trade
financial asset disposal
Cash received as interest,
processing fee and commission
Net increase of inter-bank fund
received
Net increase of repurchasing
business
Tax returned 2,955,183 3,663,842
Other cash received from
75,141,102 120,978,133
business operation
Sub-total of cash inflow 9,473,557,494 7,855,432,263
Cash paid for purchasing of
6,518,764,635 5,641,639,499
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 for
441,775,530 478,147,993
staffs
Taxes paid 380,616,055 524,718,229
Other cash paid for business
183,676,858 153,617,938
activities
Sub-total of cash outflow
7,524,833,078 6,798,123,659
from business activities
Cash flow generated by business
1,948,724,416 1,057,308,604
operation, net
II.Cash flow generated by
investing
Cash received from investment
32,000,000 413,200,000
retrieving
Cash received as investment
424,921,718 139,108,962
gains
Net cash retrieved from
disposal of fixed assets, intangible 64,960,139 240,321
assets, and other long-term assets
Net cash received from disposal
of subsidiaries or other
operational units
Net cash received from disposal
of subsidiaries or other 2,729,389
operational units
Sub-total of cash inflow due to
521,881,857 555,278,672
investment activities
Cash paid for construction of
fixed assets, intangible assets and 1,185,962,381 2,111,885,680
other long-term assets
Cash paid as investment 14,781,600 616,413,725
Net increase of loan against
pledge
Net cash received from
subsidiaries and other operational
units
Other cash paid for investment
142,686 23,358,173
activities
Sub-total of cash outflow
1,200,886,667 2,751,657,578
due to investment activities
Net cash flow generated by
-679,004,810 -2,196,378,906
investment
III.Cash flow generated by
financing
Cash received as investment 90,332,375 301,552,900
Incl: Cash received as
investment from minor
shareholders
Cash received as loans 7,179,309,589 8,367,837,038
Cash received from bond
placing
Other financing –related ash
2,714,679
received
Sub-total of cash inflow from
7,269,641,964 8,672,104,617
financing activities
Cash to repay debts 6,939,230,296 5,623,888,525
Cash paid as dividend, profit, or
924,117,077 765,564,373
interests
Incl: Dividend and profit paid
by subsidiaries to minor
shareholders
Other cash paid for financing
85,996,874 55,802,400
activities
Sub-total of cash outflow due
7,949,344,247 6,445,255,298
to financing activities
Net cash flow generated by
-679,702,283 2,226,849,319
financing
IV. Influence of exchange rate
alternation on cash and cash
equivalents
V.Net increase of cash and cash
590,017,323 1,087,779,017
equivalents
Add: balance of cash and cash
equivalents at the beginning of 2,182,660,514 1,894,021,204
term
VI.Balance of cash and cash
2,772,677,837 2,981,800,221
equivalents at the end of term
6. Cash flow statement of the Parent Company
Unit：RMB
Items Report period Same period of the previous year
I.Cash flows from operating activities
Cash received from sales of goods or
1,864,051,062 2,002,589,057
rending of services
Tax returned 0 148,145
Other cash received from
22,682,205 24,791,515
business operation
Sub-total of cash inflow 1,886,733,267 2,027,528,717
Cash paid for purchasing of
1,183,908,500 1,469,383,014
merchandise and services
Cash paid to staffs or paid for 137,424,003 163,193,890
staffs
Taxes paid 82,941,412 115,034,480
Other cash paid for business
58,631,685 47,740,750
activities
Sub-total of cash outflow
1,462,905,600 1,795,352,134
from business activities
Cash flow generated by business
423,827,667 232,176,583
operation, net
II.Cash flow generated by
investing
Cash received from investment
32,000,000 413,200,000
retrieving
Cash received as investment
506,549,752 420,011,582
gains
Net cash retrieved from
disposal of fixed assets, intangible 9,740
assets, and other long-term assets
Net cash received from disposal
of subsidiaries or other
operational units
Other cash receivable for
342,586
investment activities
Sub-total of cash inflow due to
538,549,752 833,563,908
investment activities
Cash paid for construction of
fixed assets, intangible assets and 86,788,014 44,501,335
other long-term assets
Cash paid as investment 471,726,621 1,348,697,725
Net cash received from
subsidiaries and other operational
units
Other cash paid for investment
378,996
activities
Sub-total of cash outflow
558,514,635 1,393,578,056
due to investment activities
Net cash flow generated by
-19,964,883 -560,014,148
investment
III.Cash flow generated by
financing
Cash received as loans
Cash received from bond
1,594,100,000 3,520,000,000
placing
Other financing –related ash
630,525
received
Sub-total of cash inflow from
1,594,100,000 3,520,630,525
financing activities
Cash to repay debts 1,480,000,000 2,970,000,000
Cash paid as dividend, profit, or
356,084,890 273,248,871
interests
Other cash paid for financing
383,348 5,802,000
activities
Sub-total of cash outflow due
1,836,468,238 3,249,050,871
to financing activities
Net cash flow generated by
-242,368,238 271,579,654
financing
IV. Influence of exchange rate
alternation on cash and cash
equivalents
V.Net increase of cash and cash
161,494,546 -56,257,911
equivalents
Add: balance of cash and cash
equivalents at the beginning of 417,749,940 659,395,980
term
VI.Balance of cash and cash
579,244,486 603,138,069
equivalents at the end of term
7. Consolidated Statement on Change in Owners’ Equity
Report period
Unit：RMB
Report period
Owner’s equity Attributable to the Parent Company
Minor
Items Less: Surplu Comm Total of
Capital Special Attribu sharehol
Share Shares s on risk owners’
reserve ized table Other ders’
Capital in reserve provisi equity
s reserve profit equity
stock s on
2,797,4 1,848,71 3,775,4 1,784,97 3,044,879 13,251,502
I.Balance at the end of last year
51,138 8,571 81,032 2,625 ,534 ,900
Add: Change of accounting
policy
Add: Change of accounting
policy
Correcting of previous errors
2,797,4 1,848,71 3,775,4 1,784,97 3,044,879 13,251,502
Other 0 0 0
51,138 8,571 81,032 2,625 ,534 ,900
II.Balance at the beginning of 2,537,78 180,087 -55,766, 48,207,30 175,066,23
0
current year 6 ,586 434 0 8
292,168, 45,041,15 337,209,37
III.Changed in the current year
221 0 1
3,163,98
（I） Net profit 3,163,984
4
3,163,98 292,168, 45,041,15 340,373,35
（II）Other misc.income
4 221 0 5
-626,19 90,958,57
Total of (I) and (II) 0 0 0 0 0 0 0 90,332,376
8 4
(III) Investment or decreasing -626,19 90,958,57
90,332,376
of capital by owners 8 4
1. Capital inputted by owners
2．Amount of shares paid and
accounted as owners’ equity
180,087 -347,93 -87,792,4 -255,639,4
3. Other 0 0 0 0 0 0
,586 4,655 24 93
180,087 -180,08
（IV）Profit allotment
,586 7,586
1.Providing of surplus reserves
2.Providing of common risk -167,84 -87,792,4 -255,639,4
provisions 7,069 24 93
3．Allotment to the owners (or
shareholders)
4．Other 0 0 0 0 0 0 0 0 0 0
(V) Internal transferring of
owners’ equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by
surplus reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
2,797,4 1,851,25 3,955,5 1,729,20 3,093,086 13,426,569
（VII）Other 0 0 0 0
51,138 6,357 68,618 6,191 ,834 ,138
IV. Balance at the end of this
term
Amount of the previous term
Unit:RMB
Amount of the previous term
Owner’s equity Attributable to the Parent Company
Minor
Items Less: Surplu Comm Total of
Capital Special Attribu sharehol
Share Shares s on risk owners’
reserve ized table Other ders’
Capital in reserve provisi equity
s reserve profit equity
stock s on
2,797,4 1,884,42 3,425,2 2,058,63 2,918,622 13,084,376
I.Balance at the end of last year
51,138 6,171 41,041 5,851 ,675 ,876
Add：Retrospective adjustment
caused by merger of entities
under common control
Add: Change of accounting
policy
Correcting of previous errors
Other
II.Balance at the beginning of 2,797,4 1,884,42 3,425,2 2,058,63 2,918,622 13,084,376
0 0 0
current year 51,138 6,171 41,041 5,851 ,675 ,876
-5,949,6 350,239 -312,33 176,382,8 208,336,79
III.Changed in the current year 0
53 ,991 6,365 24 7
317,648, 323,684,29
（I） Net profit 6,035,558
740 8
-5,949,6
（II）Other misc.income -5,949,653
53
-5,949,6 317,648, 317,734,64
Total of (I) and (II) 6,035,558
53 740 5
(III) Investment or decreasing 301,552,9 301,552,90
0 0 0 0 0 0 0 0
of capital by owners 00 0
301,552,9 301,552,90
1. Capital inputted by owners
00 0
2．Amount of shares paid and
accounted as owners’ equity
3. Other
350,239 -629,98 -131,205, -410,950,7
（IV）Profit allotment 0 0 0 0 0 0
,991 5,105 634 48
350,239 -350,23
1.Providing of surplus reserves
,991 9,991
2.Providing of common risk
provisions
3．Allotment to the owners (or -279,74 -131,205, -410,950,7
shareholders) 5,114 634 48
4．Other
(V) Internal transferring of
0 0 0 0 0 0 0 0 0 0
owners’ equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by
surplus reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
（VII）Other
IV. Balance at the end of this 2,797,4 1,848,71 3,775,4 1,784,97 3,044,879 13,251,502
term 51,138 8,571 81,032 2,625 ,534 ,900
8. Statement of change in owner’s Equity of the Parent Company
Amount of the Current term
Unit：RMB
Amount of the Current term
Items
Share Capital Less: Specializ Surplus Common Attributa Total of
Capital reserves Shares in ed reserves risk ble profit owners’
stock reserve provision equity
2,797,451, 1,811,607, 3,775,481, 1,464,811, 9,849,351,
I.Balance at the end of last year
138 163 032 797 130
Add: Change of accounting
policy
Correcting of previous errors
Other
II.Balance at the beginning of 2,797,451, 1,782,543, 3,775,481, 1,420,107, 9,775,583,
current year 138 554 032 531 255
180,087,58 198,683,35
III.Changed in the current year 3,163,984 15,431,786
6 6
363,366,44 363,366,44
（I） Net profit
1 1
（II）Other misc.income 3,163,984 3,163,984
363,366,44 366,530,42
Total of (I) and (II) 3,163,984
1 5
(III) Investment or decreasing of
0 0 0 0 0 0 0 0
capital by owners
1. Capital inputted by owners
2．Amount of shares paid and
accounted as owners’ equity
3. Other
180,087,58 -347,934,6 -167,847,0
（IV）Profit allotment 0 0 0 0 0
6 55 69
180,087,58 -180,087,5
1.Providing of surplus reserves
6 86
2.Providing of common risk
provisions
3．Allotment to the owners (or -167,847,0 -167,847,0
shareholders) 69 69
4．Other
(V) Internal transferring of
0 0 0 0 0 0 0 0
owners’ equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by surplus
reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
（VII）Other
IV. Balance at the end of this 2,797,451, 1,785,707, 3,955,568, 1,435,539, 9,974,266,
term 138 538 618 317 611
Amount of the previous term
Amount of the previous term
Items
Less: Specializ Common Total of
Share Capital Surplus Attributa
Shares in ed risk owners’
Capital reserves reserves ble profit
stock reserve provision equity
2,797,451, 1,817,556, 3,425,241, 1,535,556, 9,575,805,
I.Balance at the end of last year
138 816 041 675 670
Add: Change of accounting
policy
Correcting of previous errors
Other
II.Balance at the beginning of 2,797,451, 1,817,556, 3,425,241, 1,535,556, 9,575,805,
current year 138 816 041 675 670
350,239,99 -70,744,87 273,545,46
III.Changed in the current year -5,949,653
1 8 0
559,240,22 559,240,22
（I） Net profit
6 6
（II）Other misc.income -5,949,653 -5,949,653
559,240,22 553,290,57
Total of (I) and (II) -5,949,653
6 3
(III) Investment or decreasing of
0 0 0 0 0 0 0 0
capital by owners
1. Capital inputted by owners
2．Amount of shares paid and
accounted as owners’ equity
3. Other
350,239,99 -629,985,1 -279,745,1
（IV）Profit allotment 0 0 0 0 0
1 05 14
350,239,99 -350,239,9
1.Providing of surplus reserves
1 91
2.Providing of common risk
provisions
3．Allotment to the owners (or -279,745,1 -279,745,1
shareholders) 14 14
4．Other
(V) Internal transferring of
0 0 0 0 0 0 0 0
owners’ equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus
reserves (or to capital shares)
3．Making up losses by surplus
reserves.
4. Other
(VI) Special reserves
1. Provided this year
2．Used this term
（VII）Other
IV. Balance at the end of this 2,797,451, 1,811,607, 3,775,481, 1,464,811, 9,849,351,
term 138 163 032 797 130
（III）Basic Information of the Company
Guangdong Electric Power Development Co., Ltd. ("the Company") is a joint stock limited company jointly
sponsored and established by Guangdong Electric Power Group Company, Guangdong Trust Investment
Company under Construction Bank of China, Guangdong Electric Power Development Company, Guangdong
International Trust Investment Company and Guangdong Development Bank (now as Guangdong Guangkong Co.,
Ltd.). At the time of establishment, the registered capital of the Company was 356,250,000 ordinary shares with
par value of RMB 1 per share.
The Company issued RMB 44,000,000 Denominated Domestic Shares (“A Shares”) and
Demestically Listed Foreign Shares (“B Shares”) on Shenzhen Stock Exchange on November 26,
1993 and June 28, 1995 respectively. After this issurance, the share capital of the Company
increased to RMB 505,250,000.
In 2001, prusuant to the approval on the implementation Plan of Guangdongrovince’s Reform of
power industry structure Relating to Restructuring of Generation and Transmission Assets, a
document issued by Guangdong Provincial Government and referred to as Yue Fu Han 2001 No.252,
Guangdong Electric Power Holding Co.( “GPHC”), the former major shareholder of the Company,
was split into two separate companies, namely, Guangdong Power Grid Corporation
( “GPGC”,formerly Guangdong Guangdian Group Co., Ltd.”), and Guabngdong Yudean Group Co.,
Ltd.(“Yudean” formerly Guangdong Yudean Assets Management Co., Ltd.”). After restructuring,
the electrictity transmission and distribution in Guangdong Province, The PRC, were controlled and
managed by GPGC, while Yudean concentrated in the investment and management of power plants.
According to the Reply to issues in the Restructuring of Provincial Power Companies assets with a
document number of Yue Cai Qi (2001)No.247, the Company’s 50.15% equity interest formerly
held by GPHC was transferred to Yudean on August 1,2001.
According to Yue Guo Zi Han (2005) No. 452 Document, i.e., Official Reply to Issues Concerning Share Holding Structure Reform
of Guangdong Electric Power Development Co., Ltd., issued by State-owned Assets Regulatory Commission under Guangdong
People's Government, the Company carried out share holding structure reform on January 18, 2006. All shareholders holding
non-negotiable shares paid 3.1 shares for every 10 shares to shareholders holding negotiable A shares registered on the equity change
registration day (January 18, 2006) specified in the plan for share holding structure reform as consideration. 121,357,577 corporate
shares were paid in total. From January 19, 2006, all corporate shares of the Company can be listed and traded at Shenzhen Stock
Exchange. However, sale restriction period of 1-3 years was specified. Due to these restricted conditions, As of June 30, 2010, there
were still 5, 885, 259 shares of legal shares not traded which were originally held by the non-tradable shareholders, after the
non-tradable share reform, the stock shares which were owned by Yudean. Reduced from 50.15% to 46.34%.
According to “Approval of Non-publicly Issued Shares for Guangdong Power Development Co., Ltd”（CSRC License No.
[2010]376）on April, 2010, The non-publicly issued A shares of parties, Yudean Group actually purchase 138,047,138 of A shares.
After the non-public issued, the stock shares which were owned by Yudean Group Increased from 46.34% to 48.99%
The Company and its subsidiaries (the “Group”) are principally engaged in the susiness of
developing electric power plants in Guangdong Province, the PRC. The Company’s registered
address is 23 to 26 floor, Yudean Plaza, 2 Tianhe East Road, Guangzhou City, Guangdong Province,
the PRC. Yudean Group is the Parent Company of the company.
（IV）Principal accounting policies, accounting estimates and early errors
1.Basis for the preparation of financial statements
The financial statements is formulated according to Item 38: specific accounting standards from
“Corporate Accounting Standards—basic principles” issued by Ministry of Finance on Feb., 15, 2006, corporate accounting
standards application guide, corporate accounting standards explanation and other related regulations (Hereinafter referred to be
“corporate accounting standards”) issued later.
2.Complying with the statements in Accounting Standards for Business Enterprises
The financial Report and statements are prepared with compliance to the requirement of the Enterprise Accounting Standard. They
reflect the financial position as of June 30, 2012, as well as the business performance and cash flow situation in the first half of 2012
of the Company frankly and completely.
3.Fiscal year
Fiscal year is dated from Gregorian calendar Jan., 1 to Gregorian calendar Dec., 31.
The accounting of the financial statements during the period starts from January
1, 2012 to 6 months ended June 30,
4. Accounting standard money
The Company takes RMB as the standard currency for bookkeeping.
Standard Currency for bookkeeping of overseas subsidiaries
5. Accounting process method of enterprise consolidation under same and different controlling.
（1）Enterprise merger under same control
The consideration paid and net assets obtained by the absorbing party in a business combination are
measured at the carrying amount. The difference between the carrying amount of the net assets
abstained and the carrying amount of the consideration paid for the combination is treated as an
adjustment to capital surplus, if the capital surplus is not sufficient to absorb the diference, the
remaining balance is adjusted against retained earnings.
Costs directly attributable to the combination are included in profit or loss in the period in which
they are incurred.
(2)Business combinations involving enterprises not under common control
The cost of combination and identifiable net assets obtained by the acquirer in a business
combination are measured at the fair value at the acquisition date. Where the cost of the
combination exceeds the acquirer’s interest in the fair value of the acquirer’s identifiable net assets,
the difference is recognised as goodwill; where the cost of combination is lower than the acquirer’s
interest in the fair value of the acquirer’s identifiable net assets, the difference is recognised in profit
or loss for the current period.
Costs directly attributable to the combination are included in the cost of combination.
6.Preparation of consolidated financial statements
（1）Preparation of consolidated financial statements
The consolidated financial statements comprise the financial statements of the company and its
subsidiaries.
Subsidiaries are fully consolidated from the date on which the Group obtains controland are
de-consolidated from the date that such control ceased. For a subsidiary acquired in a business
combination involving enterprises under common control. Its is included in the consolidated
financial statements from the date when it, together with the Company.. came under common
control of the ultimate controlling party . The portion of the net profits realized before the
combination date is presented separately in the consolidated income statement.
The financial statements of subsidiaries are adjusted in accordance with the accounting policies and
accounting period of the Company during the preparation of the consolidated financial statements,
where the accounting policies and the accounting periods are inconsistent between the Company
and subsidiaries. For subsidiaries acquired from a business combination involving enterprises not
under common control, the individual financial statements of the subsidiaries are adjusted based on
the fair value of the identifiable net assets at the acquisition date.
All significant inter-group balances, transactions and unrealized profits are eliminated in the
consolidated financial statements, the portion of a subsidiary’s equity and the portion of a
subsidiary’s net profits and losses for the period not held by the Company are recognized as
minority interests and presented separately in the consolidated balance sheet within equity and net
profit respectively.
（2）Accounting treatment when the share equity of the same subsidiary is purchased and sold, or sold and
purchased in successively two years.
7. Cash and cash equivalents
The cash listed in cash flow table refers to stored cash and payable deposit whenever, the term
“ cash “ refers to cash on hand and deposits that are available for payment at any time. The term :
cash equivalents” refers to short-term and highly liquid investments that are readily convertible to
known amounts of cash and which are subject to an insignificant risk of change in value.
8. Foreign currency Convert
（1）Foreign currency Transactions
Foreign currency transactions are translated into RMB using the exchange rates prevailing at the
dates of the transactions.
（2）Foreign currency statement Convert
At the balance sheet date, monetary items denominated in foreign currency are translated into RMB
using the spot exchange rate on the balance sheet date. Exchange differences arising from these
translations are recognized in profit or loss for the current period, except for those attributable to
foreign currency borrowings that have been taken out specifically for the acquisition or construction
of qualifying assets, which are capitalized as part of the cost of those assets. Non-monetary items
denominated in foreign currency that are measured in terms of historical cost are translated at the
balance sheet date using the spot exchange rate at the date of transaction. The effect of exchange
rate changes on cash is presented separately in the cash flow statement.
9. Financial instruments
Financial instruments comprise Financial assets , Financial liabilities and Equity instruments.
(1) Classification of financial assets:
Financial assets are classified into the following categories at initial recognition: financial assets at
fair value through profit or low, receivables, available –for –sale financial assets and
held-to-maturity investments. The classification of financial assets depends on the Group’s intention
and ability to hold the financial assets. During 2010, other than receivables and available-for –sale
financial assets, the Group did not hold any financial assets in other categories.
Account receivables
Account receivables, including accounts receivable and other receivables, are non-derivative
financial assets with fixed or determinable payments that are not quoted in an active market.
Available-for-sale financial assets
Available-for-sale financial assets are non-deriative financial assets that are either designated in this
category or not classified in any of the other categories at initial recognition. Available-for –sale
financial assets are included in other current assets in the balance sheet if management intends to
dispose of them within 12 months of the balance sheet date.
Financial liabilities are classified into the following categories at initial recognition: the financial
liabilities at fair value through profit or loss and other financial liabilities, During 2012, The
financial liabilities in the Group mainly comprise other financial liabilities, including payables and
lorrowings.
(2) Measurement of financial assets
Financial assets are recognized at fair value on the balance sheet when the Group becomes a
party to the contractual provisions of the financial instrument, for receivables and available-for-sale
financial assets, transaction costs that are attributable to the acquisition of the financial assets are
included in the their initial recognition amounts
Financial assets at fair value through profit or loss and available-for-sale financial assets are
subsequently measured at fair value. Investments in equity instruments are measured at cost when
they do not have a quoted market price in an active market and whose air value cannot be reliably
measured. Receivables are measured at amortised cost using the effective interest methord.
Again or loss arising from a change in fair value of an available-for-sale financial asset is
recognized directly in equity , except for impairment lossets and foreign exchange gains and losses
arising from the translation of monetary financial assets. When such financial asset is derecognized,
the cumulative gain or loss previously recognized in equity is recognized in profit or loss for the
current peiod, Interests on available-for –sale investments in debt instruments calculated using the
effective interest method during the period in which such investments are held and cash dividends
declared by the investee on available-for –sale investments in equity instruments are recognized as
investment income in profit or loss.
Payables comprise accounts payable and other payables, which are recognized initially at fair
value and measured subsequently at amortised cost using the effective interest method.
Borrowings are recognized initially at fair value, net of transaction costs incurrend, and
subsequently carried at amortised costs using the effective interest methor.
Other Financial liabilities are classified as the current liabilities if thety mature within one year (one
year included); others are classified as Non- current liabilities; Non- current liabilities due for
repayment within one year since the balance sheet day are classified as current portion of
non-current liabilities.
（3）Recognition basis and measurement for transferred financial assets
Financial assets are derecognized when:i) the contractual arights to receive the cash flows from the
financial assets have expired; or ii) all substantial risks and rewards of ownership of the financial
assets have been transferred; or iii) the control over the financial asset has been waived even if the
Group does not transfer or retain nearly all of the risks and rewards relating to the ownership of a
financial assets.
On derecognition of a financial assets, the difference between the carrying amount and the
aggregate of consideration received and the accumulative amount of the changes of fair value
originally recorded in the owner’s equity is recognized in profit or loss.
（4）Financial Liabilities
A financial liability is derecognized when and only when the obligation specified in the contrat is
discharged or cancelled. The difference between the carrying amount of a financial liability
extinguished and the consideration paid is recognized in profit of loss.
（5）The determination method for fair value of financial assets and financial liabilities
The fair value of a financial instrument that is traded in an active market is determined at the
quoted price in the active market. The fair value of a financial instrument for which the market Is
not active is determined by using a valuation technique. Valuation techniques include using prices
of recent market transactions between knowledgeable, willing parties, reference to the current fair
value of another financial asset that is substantially the same with this instrument, and discounted
cash flow analysis. When avaluation technique is used to establish the fair value of a financial
instrument, use market data as much as possible and avoid use of data that is particularly reated to
the Group .
（6）Providing of impairment provision on financial assets (exclude receivable accounts)
The Group assesses at the balance sheet date the book value of financial assets. If there is any objective evidence
that a financial asset is impaired, the Group provides for such impairment losses.
If there is objective evidence that an impairment loss has been incurred on financial assets carried at
amortized cost, the amount of the loss is measured as the difference between the asset’s book vale and the present
value of estimated future cash flows (excluding future credit losses that have not been incurred). If in a subsequent
period, the amount of the impairment loss increases and the increase can be related objectively to an event
occurring after the impairment is recognized, the previously recognized impairment loss is reversed by adjusting
the allowance account. The amount of the reversal is recognized in the income statement.
In the case of a significant or prolonged decline in the fair value of an available-for-sale financial
assets, the cumulative loss arising from the decline in fair value that had been recognized directly in
equity is removed from equity and recognized in impairment loss. For an investment in debt
instrument classified as available-for-sale on which impairment losses have been recognized, if in a
subsequent period, its fair value increases and the increase can be objectively related to an event
occurring after the impairment loss was recognized in profit or loss, the previously recognized
impairment loss is reversed and recognized in profit or loss for the current period, for an investment
in an equity instrument classified as available-for-sale on which impairment losses have been
recognized, when ,the previously recognized impairment loss for sellable rights Characteristics of
Investment， in a subsequent peiod, its fair value increases and directly recognized in equity.
（7）If investment held to mature is recztegorized to sellable financial assets, please state the
intention or evidence of change incapability
10. Recognition standard and providing basis of bad debt provision on receivable accounts
Account receivables comprise accounts receivable and other receivables. Accounts receivable
arising from sale of Goods or rendering of services are initially recognized at fair value of the
contractual payments from the buyer.
Bad debt recognition and measurement method
--Bad debt recognition criterion
For all receivables, separately perform impairment testing. When objective evidence
indicates the Group can’t receive money according original terms, provision for bad debts
recognized .
— Bad debts provision method
The bad debt will be recognized when the present value of estimated future cash flow below their
book value.
（1）Accounts receivable with material specific amount and specific provisioned bad debt preparation.
Account receivable with special account
Judgment criteria or amount standard of material receivable exceeding RMB 8 million is viewed as
material accounts receivable.Account receivable
specific amount or amount criterial
with special account receivable exceeding RMB 1
million is viewed as material accounts receivable.
Provision method with material specific amount and The bad debt will be recognized when the present value of
estimated future cash flow below their book value
provision of specific bad debt preparation
(2)The accounts receivable of bad debt provisions made by Group
Method for recognition of
Name impairment allowances by Basis of determination of groups
group
Accounts on age basis in group
□ applicable √not applicable
Accounts on percentage basis in group：
□ applicable √not applicable
Accounts on other basis in group：
□ applicable √not applicable
（3）Account receivable with non-material specific amount but specific bad debt preparation
Reason of specific bad debt preparation provision：
Accounts receivable with non-material specific amount and being not able to relent its risk character by provisioning bad debt
preparation in accordance with portfolio
Provision method of bad debt preparation
Bad debt preparation will be provisioned in accordance with the difference of present value of its future cash flow below its book
value.
11. Inventories
（1）Classcification
Inventories mainly include fuel and spare parts, and are presented at the lower of cost and net
realizable value.
（2）Pricing method of stock delivered
□ firs-in –first-out □ weighted average□ individual recognition □other
Stock delivered is measured according to weighted average method.
（3）Confirmation basis of stock net realizable value and withdrawal method of inventory falling price reserves.
Provisions for declines in the value of inventories are determined at the carrying valueof the
inventories net of their net realizable value. Net realizable value is determined based on the
estimated selling price in the ordinary course of business, less the estimated costs to completion
and estimated costs necessary to make the sale and relevant taxes.
（4）Inventory system
√ Perpetual inventory □ Fixed date inventory □Other
The group adopts perpetual inventory system.
（5）Amortization method of consumption goods with low value and wrap page
Consumption goods with low value
Consumption goods with low value adopt one time amortization method when used.
Packing
Wrap page：Wrap page adopts one time amortization when used
12.Long-term equity investment
（1）Investment cost confirmation
Long-term equity investments comprise the Company’s long-term equity investmentsin its
subsidiaries, the Group’s long-term equity investments in its associates as well as the long-term
equity investment where the Group does not have control, joint control or significant influence
over the investees, and which are not a quoted in an active market and whose fair value cannot be
reliable measured.
Subsidiaries are all investees the which the Company is able to control; associates areal investees
that the Group has significant influence on their financial and operating policies.
Investments in subsidiaries are measured using the cost method in the Company’s financial
statements, and adjusted using the equity method when preparing the consolidated financial
statements; investments in associates are accounted for using the equity method; other long-term
equity investments there the Group does not have control, joint control or significant influence over
the investee, and which are not quoted in an active market and whose fair vale cannot be relably
measured are accounted for using the cost method.
The long-term equity investment formed in the merger of an enterprise: for the long-term equity investment
arising from the merger of enterprises under the same control, it shall, on the date of merger, regard the share of
the book value of the owner’s equity of the merged enterprise as the cost of investment; for the long-term equity
investment arising from the merger of enterprises under the different control, it shall regard the merger costs as the
long-term equity investment costs.
The long-term equity investment obtained by other means besides by the merger of enterprises: for the
long-term equity investment obtained by making payment in cash, it shall regard the purchase cost actually paid as
the initial investment cost; for the long-term equity investment obtained on the basis of issuing equity securities, it
shall regard the fair value of the equity securities issued as the initial investment cost.
（2）Rear measuring and profit and loss confirmation method
For long-term equity investments accounted for using the cost method, investment income is
recognized in profit or loss for the cash dividends or profit declared by the investee.
The long-term equity investment measured by employing the equity method: for the initial cost is more than the
investing enterprise’ attributable share of the fair value of the invested entity’s identifiable net assets for the
investment, it shall regard the long-term equity investment cost as the initial investment cost; for the initial cost is
less than the investing enterprise’ attributable share of the fair value of the invested entity’s identifiable net assets
for the investment, the difference shall be included in the current profits and losses and the cost of the long-term
equity investment shall be adjusted correspondingly.
When using the equity method of accounting, the Group recognized the investment income
based on its share of net profit or loss of the investee. The Group discontinues recognizing its share
of net losses of an investee after the carrying amount of the long-term equty investment together
with any long-term interests that, in substance, form part of the investor’s net investment in the
investee are reduced to zero. However, if the Group has obligations for additional losset and the
conditions on recognition of provision are satisfied in accordance with the accounting standards on
contingencies, the Group continues to recognize the investment losses and the provision. For
changes in owner’s equity of the investee other than those arising form its net profit or loss, the
Group record directly in capital surplus its proportion, provided that the Group’s proportion of
shareholding in the investee remains unchanged . the carrying amount of the investment is reduced
by the Group ‘s share of the profit or cash dividends declared by and investee. The unrealized
profits or losses arising from the intra-group transactions between the Group and its investees are
eliminated to the extent of the Group’s interest in the investees, on the basis of which the investment
gain or losses are recognized.The loss on the intra-group transaction between the Group and its
investees, of which the nature is asset impairment , is recognized in full amount, and the relevant
unrealized gain or loss is not allowed to be eliminated.
（3） Confirm the basis that has common control and major infection upon invested unit.
Control means that the investor has the power to govern the financial and operating policies so as to
obtain benefits from their operating activities. The existence and effect of potential voting rights
(including that derived from the convertible boods and warrants that are currently convertible or
exercisable ) are considered to determine whether the Group has control over the investee.
Joint control means that the investor has contractual obligation to control a certain economic
activity, while such control only exists when the significant financial and operating policies relating
to that activing are agreed upon by all investors sharing that control.
Significant influence means that the investor has the right to participate in the determination of the
investee’s financial and operating policies, but cannot control or joint control with other parties
on the determination of these policies.
（4）Depreciation testing method and depreciation reserve withdrawal method.
The carrying amount of long-term equity investments in subsidiaries and associates isreduced to the
recoverable amount when the recoverable amount is less than the carrying amount (Note 2(18)).
When the long-term investments which are not quoted in an active market and whose fair value
cannot be reliable measured have impaiment, the impairment loss is recognized at the differences
between carrying amounts and the present value of future cash flow discounted using the
prevailing market returmn rate on similar financial assets. Once the impairment loss is recognized,
it is not allowed to be reversed for the value recovered in the subsequent periods.
13.Investment property
Investment property, including buildings that held for the purpose of lease and leased land use right,
is measured initially at cost. Subsequent expensitures incurred for and investment property is
included in the cost of the investmentproperty when it is probable that economic benefits associated
with the investment property will flow to the Group and its cost can be reliable measured, otherwise
the expenditure is recognized in profit or loss in the period in thich they are incurred.
The Group adopts the cost model for subsequent measurement of the investment property. Buildings
and lond use rights are depreciated or amortised to their estimated net residual values over their
estimated useful lives. The estimated useful luves, the estimated net residual values expressed as a
percentage of cost and the annual depreciation rates of the investment properties are as follows:
Estimated useful li Estimated residual Annual depreciatio
ves value n rate
House and Building 30~41 years 5% 2.32~3.17%
When an investment property is changed to an owner-occupied property, it is transferred to fixed
asset at the date of the change. When an owner-occupied property is changed to be held to earn
rentals or for capital appreciation, the fixed asset is transferred to investment property at the date of
the change at the carrying amount of the property.
The estimated useful life, net residual value of the investment property and the depreciation method
applied are reviewed, and adjusted as appropriate at each financial year-end.
An investment property is derecognized on disposal or when the investment property is
permanently withdrawn from use and no future economic benefits are expected from its disposal.
The amount of proceeds on sale, transfer, retirement or damage of an investment property less its
carrying amount and related taxes and expenses is recognized in profit or loss for the current period.
When the recoverable amount of investment real estate less than its carrying value, book value is
reduced to its recoverable amount .
14. Fixed assets
（1）Confirmation conditions of fixed assets
Fixed assets comprise buildings, electric utilities in service, motor vehicles and other equipments.
A fixed asset is recongnized when it is probable that the economic benefits associated with the fixed
assets will flow to the Group and its cost can be reliably measured. Fixed assets purchased or
constructed by the Group are initially measured at cost at the time of acquisition. Fixed assets
contributed by the State-owned shareholders at the incorporation of a limited company are initially
recorded at the valuation amount recognized by the State-owned assets supervision and
administration department.
Subsequent expenditures incurred for a fixed asset are included in the cost of the fixed asset when it
is probable that the economic benefits associated with the fixed asset will flow to the Group and its
cost can be reliably measured. The carrying amount of those parts that are replaced is derecognized
and all the other subsequent expenditures are recognized in profit or loss in the period in which they
are incurred.
（2）Cognizance evidence and pricing method of financial leasing fixed assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership.
For the fixed assets acquired under finance leases, the company takes less of the fair value of the leased asset and
the present value of the minimum lease payments as recorded value of leased assets. The difference between the
recorded value of leased assets and the minimum lease payments shall be regarded as the unrecognized financial
expenses.
The depreciation policy adopted for the fixed assets acquired under finance leases should be the same as that of
own fixed assets. For the ownership of leased assets reasonably determined and obtained in the expiry of lease
period, the fixed assets acquired under leases shall be recognized the depreciation within its expected use life;
otherwise, the shorter of the leases period and the expected use life is recognized the depreciation.
（3）Fixed assets depreciation method
Fixed assets are depreciated using the straight-line method to allocate the cost of the assets to their
estimated residual values over their estimated useful lives. For the fixed assets being provided for
impairment loss, the related depreciation charge is prospectively determined based upon the
adjusted carrying amounts over their remaining useful lives.
The estimated net residual value of a fixed asset and the depreciation method applied to the asset
are reviewed, and adjusted as appropriate at least at each financial year-end.
。
Estimated useful lives Estimated residual valu Annual depreciation rate
Type
e
House and Building 10-35 5-10 2.57-9.5
Machinery and equipment 8-18 5-10 5-11.88
Electronic Equipment
8-10 5-10 9-11.88
Transportation equipment
Other equipment 5-10 5-10 9-19
financial leasing fixed assets -- -- --
thereunto：House and
10-35 5-10 2.57-9.5
Building
Machinery and equipment 8-18 5-10 5-11.88
Electronic Equipment
8-10 5-10 9-11.88
Transportation equipment
Other equipment 5-10 5-10 9-19
（4）Depreciation measuring method and depreciation reserves withdrawn method of fixed assets
When the recoverable amount of investment real estate less than its carrying value, book value is
reduced to its recoverable amount
（5）Other
A fixed asset is derecognized on disposal or when no future economic benefits are expected from its
use or disposal. The amount of proceeds on sale, transfer, retirement or damage of a fixed asset net
of its carrying amount and related taxes and expenses is recognized in profit or loss for the current
period.
15.Construction in progress
（1）Categories of projects un
Construction in progress is measured at actual cost. Actual cost comprises construction costs,
installation cost, borrowing costs that are eligible for capitalization and other costs necessary to
bring the fixed assets ready for their intended use. Actual cost also consists of the net amount of
revenue generated and expenses that incurred in the text running period.
Essentially, leases that involve the transfer of all risks and income related to the ownership of assets
can be defined as financial lease. When determining the recorded value of the leased construction in
progress, the fair value of the leased asset and the lowest payment of the lease are compared and the
lower will be applied. The difference between the recorded value of the leased asset and the lowest
payment of the lease in termed as unconfirmed financing costs .
（2）Standard and timing for transferring of projects under construction to fixed assets
Construction in progress is transferred to fixed assets when the assets are ready for their intended
use, and depreciation begins from the following month.
（3）Impairment text and providing of impairment provisions on projects under construction
The carrying amount of construction in progress is reduced to the recoverable amount when the
recoverable amount is less than the carrying amount
16. Borrowing cost
（1）Principle of the recognition of capitalized borrowing costs
The borrowing costs that are directly attributable to the acquisition and construction of a fixed
asset that needs a substantially long period of time of acquisition and construction for its intended
use commence to be capitalized and recorded as part of the cost of the asset when expenditures for
the asset and borrowing costs have been incurred, and the activities relating to the acquisition and
construction that are necessary to prepare the asset for its intended use have commenced. The
capitalization of borrowing costs ceases when the asset under acquisition or construction becomes
ready for its intended use, the borrowing costs incurred thereafter are recognised in profit or loss for
the current period.
（2）Capitalizing period of borrowing expenses
During Capitalizing period of borrowing expenses the point in time stops the capital point, the mora
torium on Capitalizing period of borrowing expenses are not included.
（3）Temporarily suspension of capitalizing period
If meet the capitalization conditions or non-normal breaks occurred in the course of
production and the break time is more than three months, then the capitalization of borrowing costs
shall be suspended; when the acquisition or construction or production meet the conditions of
capitalization and achieve the predicted use or sale state, Asset acquisition or production
activities began.
（4）Calculating of borrowing expense capitalizing
For a borrowing specific for the acquisition, construction or production activities for preparing an
asset eligible for capitalization, the to-be-capitalized borrowing costs shall be determined according
to the actual borrowing costs incurred less any income earned on the unused borrowing fund as a
deposit in the bank or as a temporary investment.
For the other borrowings related to acquisition, construction and production of a qualifying asset,
the amount of to-be-capitalized borrowing costs shall be the lower of the actual borrowing costs
incurred and the amount of qualifying asset not financed by specific borrowings multiplying
capitalization rate. The capitalization rate is the weighted average interest rate of these borrowings.
17. Biological assets
18.Oil gas assets
19.Intangible assets
（1）Pricing of intangible assets
Intangible assets including land use rights, sea use rights, software and associated projects for
electricity transmission and transformation are measured at cost. Intangible assets contributed by
the state-owned shareholders at the incorporation of a limited company are initially recorded at the
valuation amount recognized by the state-owned assets supervision and administration department.
（2）Estimation of service life of intangible assets with limited service life
For an intangible asset with a finite useful life, review and adjustment on useful life and
amortization method are performed at each year-end.
Name Expected useful life Basis
Land use right 20-50years The term of the Land use right
Sea use right 50 years The term of the Sea use rights
Software 2-20years The term of the Software
Associated project for
2-20years The term of the Associated project for electricity
electricity
Microwave Project and The term of the Microwave Project and Transportation
2-20years
Transportation project project
（3）Intangible assets without certain useful life
（4）Provision for impairment of investment assets
The carrying amount of intangible assets is reduced to the recoverable amount when the recoverable
amount is less than the carrying amount
（5）Dividing of research stage and development stage of internal R& D projects
Internal R&D project expenditure according to their nature, as well as research and development activities ultimat
ely whether intangible assets with greater uncertainty, are divided into research expenses and development expens
es and treated separately.
（6）Accounting of internal R & D expenses
Expenses of internal R& D projects in development stages, are recognized as intangible assets when all of the
following conditions are satisfied, or otherwise recorded to be capitalized:
Complete to enable them to use or sell the intangible asset is technically feasible;
Management with the intention to complete the intangible asset and use or sell it;
To demonstrate how the intangible asset will generate economic benefits;
Adequate technical, financial and other resources to support, to complete the development of the
intangible assets, and have the ability to use or sell the intangible asset;
Expenditure attributable to the intangible asset development can be measured reliably
Expenditure does not meet the above criteria, development, occurrence of the period included in profit or loss
has been accounted for in the profit and loss account for the period prior period after development expenditure is
not reconfirmed as assets. Capitalized development expenditures in development expenditures above shown in
the balance sheet, from the date of the item for its intended purpose to intangible assets.
Expenses of internal R& D projects in research stages are recorded into current income
20.Long-term amortization expenses
21.Asset transferring with repurchasing terms
22.Anticipated liabilities
（1）Recognition of expectable liabilities
Provisions for product warranties, onerous contracts are recognised when the Group has a present
obligation, and it is probable that an outflow of economic benefits will be required to settle the
obligation, and the amount of the obligation can be measured reliably.
（2）Accounting of expectable liabilities
A provision is initially measured at the best estimate of the expenditure required to settle the
related present obligation. Factors surrounding a contingency such as the risks, uncertainties and the
time value of money are taken into account as a whole in reaching the best estimate of a provision.
Where the effect of the time value of money is material, the best estimate is determined by
discounting the related future cash outflows. The increase in the discounted amount of the
provision arising from passage of time is recognised as interest expense.
The carrying amount of provisions is reviewed at each balance sheet date and adjusted to reflect the
current best estimate.
23.Share payment and equity instrument
（1）Category of share payment
（2）Recognition of fair value of equity instruments
（3）Recognition basis of best estimation of exercisable equity instruments
（4）Accounting treatment of share payment plan to be implemented, revised , and terminated
24.Repurchasing of the Company’s shares
25. Revenues
(1). Recognition time for sales of goods
The amount of revenue is determined in accordance with the fair value of the consideration received
or receivable for the sale of goods and services in the ordinary course of the Group’s activities.
Revenue is shown net of value-added tax, rebates, discounts and returns.
Revenue is recognised when the economic benefits associated with the transaction will flow to the
Group, the relevant revenue can be reliably measured and specific revenue recognition criteria have
been met for each of the Group’s activities as described below:
(1)Sale of electricity and heat energy
Revenue is recognised upon transmission of electricity or heat energy.
a.Revenues of Certified Emission Reduction (CER)
The Group sells the Certified Emission Reductions (“CERs”) of Carbon produced by the wind-power facilities
which has been registered the Clean Development Mechanism (“CDM”) project by the United Nations Clean
Development Mechanism Executive Board (“CDM EB”) according to the “Kyoto Protocol”.
The revenues related to CERs shall be confirmed under the following conditions:
— The other side has promised to purchase CERs;
— The parties have made the agreement for the sales price;
— The company has produced the relevant electricity;
The relevant CERs have got the United Nations certification.
（2）Incomes from transferring asset use right.
Interest income is recognised on a time-proportion basis, the cash at bank and on hand of the Group
used by other parties, using the effective interest method.
Income from an operating lease is recognised on a straight-line basis over the period of the lease.
（3）Deciding of completion percentage when percentage basis is adopted to recognize income from service
providing or construction contracts.
The Group provides service to external parties and determines the stage of completion based on
proportion of costs incurred to date to the estimated total costs. Revenue is recognised using the
percentage of completion method.
26. Governmental subsidy
（1）Categories
Government subsidy means the monetary or non-monetary assets obtained freely by an enterprise
from the government, including tax returns, financial subsidies.
Government subsidy is recognized unless the additional condition can be met and the subsidy can
be received by the corporation. If the government subsidy is a monetary asset, it will be measured in
the light of the received or receivable amount, if the government subsidy is a non-monetary asset, it
shall be measured at its fair value. If its fair value cannot be obtained in a reliable way, it will be
measured at its nominal amount.
（2）Accounting treatment
The government subsidies pertinent to assets will be recognized as other non-current debt-deferred
income, equally amortized within the useful lives of the relevant assets and recognized as profit and
loss at the same time. The government subsidies measured at their nominal amounts will be directly
recognized as profit and loss in the current period.
The government subsidies pertinent to incomes, those subsidies used for compensating related
future expenses or losses will be recognized as deferred income and recognized as profit and loss
during the period when the relevant expenses are recognized; those subsidies used for
compensating related expenses or losses already existed will be directly recognized as income or
cost in the current period.
27. Deferred income tax assets/Deferred income tax liability
（1）Confirmation of deferred income tax assets
Deferred tax assets and deferred tax liabilities are calculated and recognised based on the
differences arising between the tax base of assets and liabilities and their carrying amount
(temporary differences). Deferred tax asset is recognized for the deductible losses that can be
carried forward to subsequent years for deduction of the taxable profit in accordance with the tax
law.
Deferred tax assets are only recognised for deductible temporary differences, deductible losses
and tax credits to the extent that it is probable that taxable profit will be available in the future
against which the deductible temporary differences, deductible losses and tax credits can be utilised.
When it is probable that the temporary differences arising from investments in subsidiaries, joint
ventures and associates will be reversed in the foreseeable future and that the taxable profit will
be available in the future against which the temporary differences can be utilized, the corresponding
deferred tax assets are recognized.
(2) The confirmation of deferred income tax liability
Deferred tax assets and deferred tax liabilities are calculated and recognised based on the
differences arising between the tax base of assets and liabilities and their carrying amount
(temporary differences). No deferred tax liability is recognised for a temporary difference arising
from the initial recognition of goodwill. No deferred tax asset or deferred tax liability is recognized
for the temporary differences resulting from the initial recognition of assets or liabilities due to a
transaction other than a business combination,
Deferred tax liabilities are recognised for temporary differences arising from investments in
subsidiaries and associates, except where the Group is able to control the timing of the reversal of
the temporary difference, and it is probable that the temporary difference will not reverse in the
foreseeable future.
28.Operational leasing and Financing leasing
（1）Accounting of operational leasing
Lease payments under and operating lease are recogrised on a straight-line basis over the period of
the lease , and are either capitalized as part of the cost of related assets, or charged as an expense for
the current period.
（2）Accounting treatment of financing leasing
A finance lease is a lease that transfers substantially all the risks and rewards incidental to
ownership of an asset.
The leased asset is recorded at the amounts equal to the lower of the fair valueof the leased asset
and the present value of the minimum lease payments. The difference between the recorded
amount of the leased asset asnd tht minimum lease payments is accounted for as unrecognized
finance charge and is amortised using the effective interest method over the period of the lease. A
long-term payable is recorded at the amount equal to the minimum lease payments less the
unrecognized finance charge.
29.Sellable assets in possession
（1）Recognition of sellable assets in possession
（2）Accounting treatment of sellable assets in possession
30.Securitilization of assets
31.Hedging instruments
32.Change of main accounting policies and estimations
Is there any material change of accounting policies occurred in the year.
□ Yes √ No
（1）Change of accounting policies
Is there any change in accounting policies in the report period
□ Yes √ No
（2）Change of accounting estimations
Is there any change in accounting estimations in the report period
□ Yes √ No
33.Correction of accounting errors in previous period
Is there any accounting error with previous period found in the report period
□ Yes √ No
（1）Retrospective restatement
Is there any retrospective restatement on the accounting error with previous periods done in the report term .
□ Yes √ No
（2）Future adoption method
Is there any future adoption method apply able to accounting errors with previous period, found in the report
period
□ Yes √ No
34.Other principal accounting policies, estimations and preparation method of financial statements
（1）Impairment of long-term assets
Fixed assets, construction in progress, intangible assets with finite useful lives, investment
properties measured using the cost model and long-term equity investments in subsidiaries and
associates are tested for impairment if there is any indication that an asset may be impaired at the
balance date. If the result of the impairment test indicates that the recoverable amount of the asset is
less than its carrying amount, a provision for impairment and an impairment loss are recognised
for the amount by which the asset’s carrying amount exceeds its recoverable amount. The
recoverable amount is the higher of an asset’s fair value less costs to sell and the present value of
the future cash flows expected to be derived from the asset. A provision for asset Impairment is
determined and recognised on an individual asset basis. If it is not possible to estimate the
recoverable amount of an individual asset, the recoverable amount of the group of assets to which
the asset belongs is determined. A group of assets is the smallest group of assets that is able to
generate independent cash inflows.
Separately recognised goodwill is tested at least annually for impairment, irrespective of whether
there is any indication that the asset may be impaired. During the test, the carrying value of
goodwill is allocated to the related asset group or groups of asset group which is expected to benefit
from the synergies of the business combination. If the result of the test indicates that the recoverable
amount of an asset group or groups of asset group including the goodwill allocated is lower than its
carrying amount, the corresponding impairment loss is recognized. The impairment loss is first
deducted
from the carrying amount of goodwill allocated to the asset group or groups of asset group, and then
deducted from the carrying amount of the remaining assets of the asset group or groups of asset
group pro rata with goodwill.
Once the asset impairment loss mentioned above is recognised, it is not allowed to be reversed for
the value recovered in the subsequent periods.
（2）Employee benefits
Employee benefits mainly include wages or salaries, bonuses, allowances and subsidies, staff
welfare, social security contributions, housing funds, labour union funds, employee education funds and other
expenditures incurred in exchange for service rendered by employees.
If the Group terminates the labor relationship with any employee prior to the expiration of the
relevant labor contract or makes a severance package proposal with the purpose of enticing the
employees to willingly accept such a termination, and the following conditions are concurrently
satisfied, the Group shall recognize the liabilities to be incurred due to severance pay, and shall at
the same time record them in the profit and loss of the current period.
Except for the compesation for termination of labor relationship, employee benefits are recognised
as a liability in the accounting period in which an employee has rendered service, and as costs of
assets or expenses to whichever the employee service is attributable.
（3）.Dividend distribution
Proposed Dividend distribution is recognised as a liability in the period in which it is approved by the
shareholders’ meeting.
（4）Critical accounting estimates and judgments
The Group continually evaluates the critical accounting estimates and key judgments applied based
on historical experience and other factors, including expectations of future events that are believed
to be reasonable under the circumstances. The critical accounting estimates and key assumptions
that have a significant risk of causing a material adjustment to the carrying amounts of assets and
liabilities within the next financial year are outlined below:
(a) The estimates of the depreciable lives of property, plant and equipments
The estimate of depreciable lives of property, plant and equipments was made by the directors with
reference to the practice of industry, their expected physical wear and tear, and the durability
assessment performed. The evaluation of estimated useful lives is assessed by the directors
annually.
Change of estimated useful lives may cause significant impact on the Group’s net profit.
(b)Estimated impairment of other long-term assets
As disclosed in Notes 2(17), the Group’s long-term assets, such as fixed assets, construction
progress, intangible assets with finite useful lives, investment properties measured using the
comodel and long-term equity investments, are tested for impairment if there is any indication that a
asset may be impaired at the balance date.
In determining whether there is any indication of potential asset impairment, management mainly
evaluate and analyze from the following aspects: (1) whether the issues affecting the asset
impairment have occurred; (2) whether the present value of cash flows, which is expected to receive
for the sustained use of the asset or disposal of the asset, is less than the net book value; and (3)
whether the key assumptions used for the present value of projected future cash flow is appropriate.
The relevant assumptions used to determine asset impairment, such as the discount rate used in
present value of future cash flow method, the variation of the growth rate assumptions and so on,
may have a significant impact on the present value which is employed in the impairment testing,
resulting the impairment of long-term assets of the Group.
a.Income taxes
The Group is subject to income taxes in numerous jurisdictions. There are mary transactions and
events for which the ultimate tax determination is uncertain during the ordinary course of business.
Significant judgment is re\quired from the Group in determining the provision for income taxes in
each of these jurisdictions. The Group recognizes income taxes in each jurisdiction based on
estimates. Where the final tax outcome of these matters is different from the amounts that were
initially recorded, such differences will impact the income tax and deferred tax provisions in the
period in which such determination is made.
（V）Taxation
1.Main categories and rates of taxes
Tax items Tax basis Tax rate
Taxable value added amount
(Tax payable is calculated
using the taxable sales amount
VAT 17%
multiplied by the effective tax
rate less deductible VAT input
of current period)
Excise
Business tax Taxable turnover 5%
Value added tax and Business
City maintenance and construction tax 5%及 7%
tax amount
Enterprise income tax Taxable income 12.5%及 25%
Value added tax and Business
Education surtax 3%
tax amount
Value added tax and Business
Local surcharge for Education 2%
tax amount
Income tax rate apply able to branches and factories
Except for the two subsidiaries, Guangdong Yuejia Electric Power Co., Ltd. (“Yuejia Electric”) and
Guangdong Yudean Zhanjiang Wind Power Co., Ltd. (“Zhanjiang Wind Power”) (as disclosed in
the following notes), the enterprise income tax rate applicable to the Group is 25%. the enterprise
income tax rate applicable to Zhanjiang Wind Powe is 12.5% .
(2) Tax preferential and approval
According to the approvment ofthe Zhanjiang Municipal Office of State Administration of Taxation
Direct Taxation Office Zhangguoshui [2007] No. 15, the enterprise income tax rate of Zhanjiang
Wind Power is 15%, and from the profit-making year, the first and second year exemption from
enterprise income tax, the third to fifth year business income tax reduced by half. On January
1,2008, Zhanjiang Wind Power has not profitable. Under the provisions of the new CIT Law, which
will continue to apply the preferential policies, but was identified 2008 as the first profitable year.
Therefore, Zhanjiang Wind Power will continue to apply exemption from corporate income tax. The
enterprise income tax rate of the Zhanjiang Wind Power is 12.5% for 2012.
3.Other statements
(VI) Enterprise consolidation and combined financial statements
Overall statement on consolidating of entities and consolidated financial statements：
1. Subsidiary
（1）Subsidiary obtained through establishment or investment
Unit:RMB
After wrote down
current period loss
Amount
Other of minority
Whethe used to
Actual projects Holdi Proporti shareholders over
r write down
capital balance ng on of Interest of equity beginning
Full name of Subsidiary Registrat Registered Business consolid lost
Business amounts essentially propo voting minority share of minority
subsidiary type ion place capital scope ation of included in
of the from net rtion rights(% shareholder shareholders in the
report minority
end investment (%) ) subsidiary from the
form shareholder
to subsidiary parent company’s
interest
share ,Balance of
Owner's equity
Productio
n of
Maoming electric
Zhenneng Maomin 999,530,6 power, 595,005,9 58.27 -23,716,87
Direct Electric 58.27% Yes 412,912,719
Thermoelectric g 07 power 67 % 2
power Co., Ltd station
constructi
on
Productio
n of
Guangdong
electric
Yudean Jinghai
2,919,272, power, 1,930,395, 1,082,279,52
Electric Power Direct Jieyang Electric 65% 65% Yes 0
000 power 668 0
Development
station
Co., Ltd.
constructi
on
New Energy
Zhanjiang Wind Zhanjian 346,110,0 Development 242,277,0
Direct Electric 70% 70% Yes 61,922,158 0
Power g 00 and Generation 00
of Electricity
Guangdong Oil Oil
shale power Maomin 235,000,0 Development 196,398,2 83.66
Direct Electric 83.66% Yes 33,095,122 -1,953,163
Generation Co., g 00 and Generation 00 %
Ltd. of Electricity
Guangdong Providing
Yudean Anxin Donggua 20,000,00 repair and 20,000,00
Direct Electric 100% 100% Yes 0
Electric Power n 0 maintenance 0
Maintenance service
Productio
n of
Guangdong electric
Yudean Humen Donggua 150,000,0 power, 90,000,00
Direct Electric 60% 60% Yes 58,169,829 -691,185
Electric Power n 00 power 0
Co., Ltd. station
constructi
on
Coal Wha
rf const
Guangdong ruction,
Yudean Power Maomin 285,000,0 power p 285,000,0
Direct Electric 100% 100% Yes 0
Bohe Repair Co., g 00 lant con 00
Ltd. structio
n, elect
ricity p
rojects
with tec
hnical a
dvice an
d servic
es
provide
Zhanjiang repair a
Zhanjian 20,000,00 15,200,00
Yuheng Power Direct Electric nd insta 76% 76% Yes 6,565,707 0
g 0 0
Repair Co., Ltd. llation
service
Productio
n of
Guangdong electric
Yudean Xuwen Zhanjian 173,190,0 power, 121,233,0
Direct Electric 70% 70% Yes 52,127,818 0
Wind Electric g 00 power 00
Power Co., Ltd. station
constructi
on
Other statements on Subsidiaries obtained through incorporation or investment：
None.
（2）Subsidiaries procured through merger of entities under common control
Unit：RMB
After wrote
down
current
period loss
Amoun
of minority
t
Other shareholders
Whe used to
projects Hol over equity
Prop ther write
Actual balance din Interest beginning
ortio cons down
Full Regis capital essentia g of share of
Regist Busine n of olida lost
name of Subsidia tratio Busin amoun lly from pro minorit minority
ered ss votin tion include
subsidia ry type n ess ts of net por y shareholders
capital scope g of d in
ry place the investm tio sharehol in the
right repor minorit
end ent to n der subsidiary
s(%) t y
subsidia (%) from the
form shareh
ry parent
older
company’s
interest
share ,Balan
ce of
Owner's
equity
Produ
ction
of
electri
c
Zhanjian 2,875, 2,185,
Zhanj power 76 922,608
g Electric Direct Electric 440,00 334,40 76% Yes 0
iang , % ,844
Power 0 0
power
statio
n
constr
uction
Produ
ction
Yuejia 1,200, of
Meiz 701,27 58 249,404 -147,9
Electric Direct Electric 000,00 electri 58% Yes
hou 9,338 % ,473 22,601
Power 0c
power
,
power
statio
n
constr
uction
Produ
ction
Guangd of
ong electri
Shaogua c
n Shao 770,00 power 500,50 65 94,279, -73,67
Direct Electric 65% Yes
Yuejiang guan 0,000 , 0,000 % 673 1,577
Power power
Generati statio
on n
constr
uction
Produ
ction
of
electri
Zhanjian
c
g 1,454, 1,532,
Zhanj power 90 119,720 -4,906,
Zhongy Direct Electric 300,00 578,10 90% Yes
iang , % ,971 913
ue 0 0
power
Energy
statio
n
constr
uction
Other statements on Subsidiaries procured through merger of entities under common control：
（3）The company has no subsidiary company acquired via enterprise consolidation under same controlling.
Unit：RMB
Other Amount After wrote down
Wheth
projects Hold used to current period
Actual Proport er
Full name balance ing write loss of minority
Registra Registrat capital ion of consoli Interest of
of Subsidiary Business Scope of essentially prop down lost shareholders over
tion ion amounts voting dation minority
subsidiary type character business from net ortio included equity beginning
Place capital of rights( of shareholder
company investment n in share of minority
the end %) report
to (%) minority shareholders in
form
subsidiary sharehold the subsidiary
er interest from the parent
company’s
share ,Balance of
Owner's equity
Other statements on Subsidiaries procured through merger of entities under different control：None
2. Entities with special purposes or entities on which the Company has controlling power through
entrusted operation or leasing
□Applicable √Not applicable
Other statement on entities with special purposes or entities on which the Company has controlling power through
entrusted operation or leasing：
3. Changes of combination scope at current period
Change of consolidation range:
□Applicable √Not applicable
4.Entities included or excluded in the consolidation range in the report period.
Subsidiaries, entities with special purpose, or entities on which the Company has controlling power through
entrusted operation or leasing excluded from the consolidation range in the report period.
Unit：RMB
Name Net asset at end of term Net profit of the current term
There is no other changes in consolidation scope except this. there is no other main part to be newly included or to
be excluded in consolidation scope of this period.
Unit：RMB
Net profit from beginning of
Name Net asset at day of disposal
year to the date of disposal
Other statements on entities included to or excluded from the consolidation range in the report period：
5. Enterprise consolidation under same controlling at the end of current period.
Unit：RMB
Cash flow for
Recognition Income from the
Net profit of the business
basis of entities Substantial beginning of
Entities taken over period until the activities of the
under common controller period to the date
date of merger period until the
control of merger
date of merger
Other statements on merger of entities under common control：
6. Enterprise consolidation under non-same controlling within the reporting period.
Unit：RMB
Entities taken over Amount of goodwill Accounting of goodwill
Other statement on merger of entities under different control.：
7. Sell stock right losing controlling right to decrease subsidiary company.
Name of the subsidiaries Date of disposal Recognition of gain/loss
Other statement on subsidiaries reduced for disposal of shares and lose of control power：
8. Reverse acquisition occurred in the report period.
Goodwill recognized in
Basis for recognition of
The undertaker Recognition of merger cost merger or accounting basis
reverse acquisition
of current gain/loss
Other statements on reverse Acquisition:
9. Takeover occurred in the report period.
Unit：RMB
Type OF takeover Main assets taken over Main liabilities taken over
Takeover under common control Items Amount Items Amount
Takeover under different control Items Amount Items Amount
Other statement on takeover:
10.Exchange rate of main accounts of overseas businesses.
(VII). Notes of consolidated financial statements
1. Currency funds
Unit：RMB
Year-end balance Year-beginning balance
Items Excha Original Exchange
Original currency nge RMB currency rate RMB
rate
Cash -- -- 83,507 -- -- 413,124
RMB -- -- 83,507 -- -- 413,124
Bank deposit -- -- 1,506,515,585 -- -- 635,174,192
RMB -- -- 1,506,515,585 -- -- 635,174,192
Other monetary capital -- -- 1,266,078,745 -- -- 1,547,073,198
RMB -- -- 1,266,078,745 -- -- 1,547,073,198
Total -- -- 2,772,677,837 -- -- 2,182,660,514
Accounts under pledge, restriction, or saved abroad, which are attached with potential risks, shall be stated
individually.：
2.Financial assets for transaction
（1） Financial assets for transaction
Unit：RMB
Fair value at beginning of
Items Fair value at end of term
term
Transactional bond investment
Transactional equity instruments
Financial assets assigned to be accounted into
current gain/loss account at fair value
Deductive financial assets
Hedge instrument
Other
Total 0
（2）Transactional financial assets with restriction to liquefy
Unit：RMB
Restriction for sale or other material
Items Amount at end of term
restriction on liquefying
（3）Statements on hedge instruments and related trading
3. Bill receivable
（1）Classification Bill receivable
Unit RMB
Classification Year-end balance Year-beginning balance
Total 0
（2）Bill receivable under pledge
Unit：RMB
Issuer Date of issue Expired on Amount Remark
Total -- -- --
Notes：
（3）Bill transferred to account receivable for the issuer is not able to execute the liability , and notes endorsed to
other parties but are not mature yet at the end of period.
Unit：RMB
Issuer Date of issue Expired on Amount Remark
Total -- -- --
Notes：
Bill endorsed to other parties but not due
Unit：RMB
Issuer Date of issue Expired on Amount Remark
Total -- -- --
Notes：
Statements on commercial accepted notes already discounted or under pledge：
4.Dividend receivable
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Dividend receivable
with age within 1 96,079,553 20,916,924 104,964,477 12,032,000
year
In which：
Guangqian Electric Power 96,079,553 20,916,924 104,964,477 12,032,000
Dividend receivable
0 0 0 0
with age over 1 year
In which： -- -- -- --
Total 96,079,553 20,916,924 104,964,477 12,032,000
Notes：
5.Interest receivable
（1）Interest receivable
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Deposit interest 1,071,844 18,808,349 18,898,272 981,921
Total 1,071,844 18,808,349 18,898,272 981,921
（2）Overdue interests
Unit：RMB
Loan provided by Days overdue（day） Amount of interests overdue
Total --
（3）Statement on interest receivable
6. Account receivable
（1）Classification Account receivable :
Unit :RMB
Year-end balance Year-beginning balance
Provision for bad
Book balance Book balance Provision for bad debts
debts
Classification
Proportio Proportio Proportio Proportion
Amount Amount Amount Amount
n（%） n（%） n（%） （%）
Receivables with
major individual
amount and bad debt 1,388,763 1,647,38
98.42% 0 99.4% 0
provision provided ,698 8,766
individually
receivables with major
individual amount and
bad debt provision
provided individually
Receivables provided bad debt provision in groups
Subtotal of group 0 0% 0 0 0% 0
Account receivable
with minor individual 22,337,57 9,936,93
1.58% 0 0.6% 0
amount but bad debt 1 1
provision is provided
1,411,101 1,657,32
Total -- 0 -- -- 0 --
,269 5,697
Category explanation of accounts receivable:
Receivable accounts with large amount individually and bad debt provisions were provided.
√Applicable □Not applicable
Unit：RMB
Description of the receivable Bad debt
Book balance Rate Reason to provide
accounts provision
Electricity receivables 1,377,906,658 0%
Steam sales receivables 10,857,040 0%
Total 1,388,763,698 0 --
Other receivable account in Group on which bad debt provisions were provided on percentage basis：
□Applicable √Not applicable
Receivable accounts on which bad debt provisions are provided by other ways in the portfolio：
□Applicable √Not applicable
Other receivable account in Group on which bad debt provisions：
□Applicable √Not applicable
Other receivable accounts with minor amount but were provided had debt provisions individually at end of period.
Unit：RMB
Description Of other
Book balance Amount of bad debt rate reason
receivables
Electricity receiva
4,944,540
bles
Maintenance servi
16,773,703
ce receivables
Other 619,328
Total 22,337,571 0 --
（2）Receivable accounts written back or retrieved in the report period
Unit：RMB
Description of the Reason to write Basis of original bad Bad debt provision Amount written back
receivable accounts back or retrieve debt provision provided before or retrieved
writing back or
retrieving
Total -- -- --
Receivable accounts with large amount, or minor amount but on which bad debt provisions are provided
individually at end of period：
Description of the
Book balance Amount of bad debts Providing rate（%） Reason
receivable account
Total -- --
Remarks on receivable accounts with minor single amount but with greater risks after combining with accounts
with similar risks：
（3）Receivable accounts actually written off in the report period
Unit：RMB
Property of the Occurred under
Name of the Date of written Amount written Reason of writing
receivable related
company off off off
account relationship
Total -- -- -- --
Statement on writing off of receivable accounts：
(4)Particulars about the receivable accounts due from shareholders with 5% or over of the Company’s shares
□Applicable √Not applicable
（5）The front 5 units’ information of account receivable
Unit：RMB
Relation with the Portion in total
Name Amount Ages
Company receivables(%)
GPGC Third party 1,377,906,658 Within 1 year 97.65%
China Petroleum &
Chemical
Third party 10,857,040 Within 1 year 0.77%
Corporation.Maomin
g Branch
Guangqian Electric
Related party 6,147,204 Within 1 year 0.44%
Power
Zhanjiang Branch of
Third party 4,944,540 Within 1 year 0.35%
GPGC
Guangdong Huizhou
Natural gas Power Related party 4,595,832 Within 1 year 0.33%
Co.,Ltd.
Total -- 1,404,451,274 -- 99.53%
（6）Account due from related parties
Unit：RMB
Portion in total
Name of the company Relation with the company Amount
receivables(%)
Shajiao Power Plan C Controlled by Yudean Group 685,000 0.05%
The Group’s associate
Guangqian Electric Power 6,147,204 0.44%
andcontrolled by yudean Group
Guangdong Yudean
Environmental Protection Co., Controlled by Yudean Group 376,529 0.03%
Ltd.
Zhuhai Gold Bay Controlled by Yudean Group 1,985,640 0.14%
Huizhou Natural Gas Controlled by Yudean Group 4,595,832 0.33%
Zhanjiang Biological
Controlled by Yudean Group 220,027 0.02%
Power Generation
Guangdong Yudean
Group .Zhuhai Power Controlled by Yudean Group 740,000 0.05%
Generation
Total -- 14,750,232 1.06%
（7）Recognition of receivable accounts terminated
Unit：RMB
Items s Amount terminated Gain/loss related to termination
Total
（8）For securitization on receivable accounts, please provide the amount of asset and liability formed by
continuous involving
Unit：RMB
Items At end of term
Assets：
Subtotal of asset
Liabilities：
Subtotal of liabilities
7.Other Account receivable
（1）Category of other account receivable:
Unit ：RMB
Year-end balance Year-beginning balance
Book balance Book balance Book balance Book balance
Classification
Proporti Proporti Proportio Proporti
Amount Amount Amount Amount
on（%） on（%） n（%） on（%）
Receivables with
major individual
110,724,36
amount and bad debt 73.52% 0 0% 72,489,477 72.51% 0
4
provision provided
individually
Receivables provided bad debt provision in groups
Subtotal of group 0 0% 0 0 0% 0
Account receivable
with minor individual
39,886,121 26.48% -2,000,879 5.28% 27,476,134 27.49% -2,000,879 7.85%
amount but bad debt
provision is provided
150,610,48
Total -- -2,000,879 -- 99,965,611 -- -2,000,879 --
5
Statement on categories of other receivable accounts：
Other receivable accounts with large amount and were provided had debt provisions individually at end of period.
√Applicable □Not applicable
Unit：RMB
Description Of other
Book balance Amount of bad debts Rate Reason
receivables
Bank acceptance
60,000,000
deposit
loan by mandate d
ue in one year 19,834,189
Material fund 11,390,462
CDM income 6,051,925
withholding fun
13,447,788
ds
Total 110,724,364 0 -- --
Other receivable account in Group on which bad debt provisions were provided on percentage basis：
□Applicable √Not applicable
Receivable accounts on which bad debt provisions are provided by other ways in the portfolio：
□Applicable √Not applicable
Other receivable account in Group on which bad debt provisions：
□Applicable √Not applicable
Other receivable accounts with minor amount but were provided had debt provisions individually at end of period.
√Applicable □Not applicable
Unit：RMB
Description Of other
Book balance Amount of bad debts Rate Reason
receivables
Suppliers 17,946,183
Expected uncollect
Withholding funds 1,184,550 -780,879 193.44%
ible amounts
Expected
Deposit 2,219,264 -1,220,000 122.09%
uncollectible deposit
Material fund 419,620 0
Other 18,116,504 0
Total 39,886,121 -2,000,879 5.28% --
（2）Other receivable accounts written back or retrieved in the report period
Unit：RMB
Bad debt provision
Description of other Reason to write Basis of original bad provided before Amount written back
receivables back or retrieve debt provision writing back or or retried
retrieving
Total -- -- --
Receivable accounts with large amount, or minor amount but on which bad debt provisions are tested and
provided individually at end of period
Description of the
Book balance Amount of bad debt Providing rate（%） Reason
receivable accounts
Total -- --
Statement on other account receivable with minor amount but with greater risks when combined with other
receivable accounts with similar natures：
（3）Other receivable accounts actually written off in the report period
Unit：RMB
Name of the Property of Date of written Amount written Reason of Occurred under
Company account off off written off related relationship
Total -- -- -- --
Statements on writing off of other receivable accounts：
（4）Particulars about the other receivable accounts due from shareholders with 5% or over of the Company’s
shares in the report period.
□Applicable √Not applicable
（5）Natures or contents of other receivable accounts with large amount
Unit：RMB
Non-current asset due in 1 year
Nature or content of Portion in total other
Name Amount
the account receivables(%)
Pingan Bank. Guangzhou Bank acceptance d
60,000,000 40.37%
Branch. eposit
Loan by mandate d
Shanxi Energy 14,824,605 9.98%
ue in one year
Guangzhou Huading Construct
8,264,539 Material fund 5.56%
Co., Ltd.
Chaokang Investment Co.,Ltd. 6,051,925 CDM income 4.07%
Yuneng Investment Co., Ltd. 5,366,485 Withholding funds 3.61%
Total 94,507,554 -- 63.59%
Notes：
（6） The front 5 units’ information of Other account receivable
Unit：RMB
Relation with the Portion in total other
Name Amount Ages
Company receivables (%)
Pingan Bank.
Third party 60,000,000 Within 1 year 40.37%
Guangzhou Branch.
Shanxi Energy Associated Company 14,824,605 Within 1 year 9.98%
Guangzhou Huading
Third party 8,264,539 Within 1 year 5.56%
Construct Co., Ltd.
Chaokang Investment Controlled by Yudean
6,051,925 Within 1 year 4.07%
Co.,Ltd. Group
Yuneng Investment
Third party 5,366,485 Within 1 year 3.61%
Co., Ltd.
Total -- 94,507,554 -- 63.59%
（7）Account receivable from Related parties
Unit： RMB
Portion in total other
Name Relation with the Company Amount
receivables (%)
Shanxi Energy Associated Company 14,824,605 9.98%
Yudean Environmental Protection Controlled by Yudean Group 3,214,032 2.16%
Yudean Group Parent Company
Linchang Yuntou Associated Company 5,009,584 3.37%
Shajiao C Controlled by Yudean Group 1,755,887 1.18%
Yudean Property Controlled by Yudean Group 597,764 0.4%
Chaokang Company Controlled by Yudean Group 6,051,925 4.07%
Yudean Property
Controlled by Yudean Group 195,188 0.13%
Management
The Group’s associate
Guangqian Electric Power 20,000 0.01%
andcontrolled by yudean Group
Total -- 31,668,985 21.3%
（8）Termination of other receivable accounts
Unit：RMB
Items Amount terminated Gain/loss related to termination
Total
（9）For securitization on other receivable accounts, please provide the amount of asset and liability formed by
continuous involving
Unit：RMB
Items At end of term
Assets：
Subtotal of assets
Liabilities：
Subtotal of liabilities
8.Prepayments
（1）Prepayments age :
Unit:RMB
End of term Beginning of term
Age Proportion Proportion
Amount Amount
（%） （%）
Within 1
690,785,469 73.2% 143,475,165 44.6%
year
1-2 years 183,777,791 19.47% 176,858,200 54.98%
2-3 years 68,180,000 7.22% 630,134 0.2%
Over 3 years 1,051,386 0.11% 729,992 0.22%
Total 943,794,646 -- 321,693,491 --
Notes to age of payment in advance:：
The balances with ageing over one year represent the prepayment or deposits paid to construction
and equipment suppliers.
（2） The front 5 units’ information of Prepayments
Unit：RMB
Relation with the Reason of not
Unit name Amount Time
company clearing
Guangdong Electric Fuel Purchase deposits and
Related party 863,387,321
Supply Co., Ltd. contract has not yet expired
Purchase deposits for the
Beijing Jinshiwei Power
Third party 10,298,000 equipments and Equipment
Technology Co., Ltd.
has not been completed
Prepaid land and has not yet
East Electric Third party 10,122,940 obtained the relevant
certificates
Prepaid land and has not yet
East Electric Grouop. East
Third party 6,527,600 obtained the relevant
Boiler
certificates
Shenyang Dongguan
Prepaid land and has not yet
Electric Power
Third party 5,183,141 obtained the relevant
Technology Group
certificates
Co., Ltd.
Total -- 895,519,002 -- --
Statements on main receivers of prepayments：
（3）Prepayment received by shareholding parties holding 5% or above of the Company’s shares in the report
period.
□Applicable √Not applicable
（4）Statements on prepayments
9.Inventory
（1）Inventory types
Unit ：RMB
Year-end balance Year-beginning balance
Items Book balance Provision for Book value Book balance Provision for Book value
bad debts bad debts
Raw materials 947,813,139 0 947,813,139 1,098,814,992 0 1,098,814,992
Processing
253,788,989 -21,580,149 232,208,840 312,333,938 -21,580,149 290,753,789
products
Stock goods 30,515,242 0 30,515,242 21,008,039 0 21,008,039
Turnover
materials
Consumable
biological assets
Total 1,232,117,370 -21,580,149 1,210,537,221 1,432,156,969 -21,580,149 1,410,576,820
（2）Inventory Impairment provision
Unit： RMB
Amount Amount Decreased in current
Book balance at Book balance at
Type accounted in period period end
year beginning Transferred
Reselling
current period back
Raw materials 0 0
Processing products -21,580,149 0 0 0 -21,580,149
Stock goods 0 0
Turnover materials
Consumable
biological assets
Total -21,580,149 0 0 0 -21,580,149
（3）Condition of stock value decline
Items Base of stock value decline Reason of issuing back to Proportion of issuing back
stock value decline plan of amount to the stock
this period balance at this period
Raw materials
Processing products
Stock goods
Turnover materials
Consumable biological
assets
Statement on inventories：
10.Other current assets
Unit：RMB
Items End of term Beginning of term
Pending Deductible VAT (a) 854,585,280 964,268,582
Prepaid Income Tax (a) 1,524,259 1,524,259
Other (b) 57,483,347 3,632,358
Total 913,592,886 969,425,199
Description for Other Current Assets:
(a) The Group shall reclassify the amounts of pending deductable VAT and the prepaid income tax formed by the
purchase and construction of fixed assets by Jinghai Power Generation, Zhongyue Energy and Zhenneng
Thermoelectricity from the payable taxes into other current assets to report.
(b) Other current assets are the balance which hasn’t yet drawn from the relending US dollars loans of
Guangdong Province Department of Finance by Zhanjiang Wind Power, a subsidiary of the company, according
to the “China Climate Change Framework Loan (CCCFL)” signed by China and European Investment Bank (EIB).
By the end of June 30, 2012, Zhanjiang Wind Power has drawn the loan amounts of RMB185,853,860. Of which,
RMB128,457,063 has been drawn for the purchase of the wind devices of Warrior Wind Farm, and the balance of
RMB 57,483,347 is still saved in Guangdong Province Department of Finance.
11. Disposable financial asset
（1）Sellable financial assets
Unit：RMB
Items Fair value at end of term Fair value at beginning of
term
Available-for-sale bonds
Available-for-sale equity instruments 310,351,673 306,133,028
Other
Total 310,351,673 306,133,028
The amount of investment held to mature recategorized to sellable financial assets was RMB 0 , Account for 0%
of total investment held to mature.
Statement on sellable financial assets:
（2）Long-germ liability investment in the sellable financial assets
Unit：RMB
Accumulat
Type of Beginning Interest of ed interest Ending
Bond items Face value Initial costs Expired on
bond balance the period received or balance
receivable
Total -- -- --
Statement on long-term liability investment in the sellable financial assets：
12.Investment held to mature
（1）Investment held to mature
Unit：RMB
Balance of book value at end of Balance of book value at beginning
Items s
term of term
Total
Statement on investment held to mature：
（2）Investment held to mature disposed in the report period before mature
Unit：RMB
Percentage in the total investment before
Items Amount
disposed（%）
Total --
Statement on investment held to mature disposed in the report period before mature：
13.Long-term receivables
Unit：RMB
Categories End of term Beginning of term
Financed rent 97,399,550 58,226,891
Incl: un-realized financial gains
Sales of goods in stallments
Providing of services in
stallments
Other 423,780,000 423,780,000
Total 521,179,550 482,006,891
14. Investment to joint venture and Affiliated Enterprises
Unit：RMB
Company
vote right
Company Total
percentag
Legal sharehold Ending Ending business
Corporati Registrati Business Registere e in the Ending Current
Name Represent ing total total revenues
on Type on place Nature d Capital invested net assets net profit
ative percentag assets liabilities at this
unittion
e (%) period
of units
(%)
I. Joint venture
II. Affiliated enterprise
Limite
Therm
d
Wen al 1,030, 2,750, 1,518, 1,231,
Liabili Shenzh 694,19 79,393
Guangqian Lianh power 292,50 40% 40% 046,08 198,08 847,99
ty en 9,627 ,498
e genera 0 4 8 6
Comp
tion
any
Limite Gao Therm 2,937, 1,721, 1,215,
Huizho 963,00 750,21 96,172
Huizhou Natural gas d Shiqia al 32% 32% 153,12 997,29 155,82
u 0,000 4,647 ,690
Liabili ng power 2 8 4
ty genera
Comp tion
any
Limite
d
Wen 2,749, 10,975 8,116, 2,859, 2,923,
Liabili Shanw 172,08
Red Bay Lianh 750,00 25% 25% ,582,7 415,19 167,51 781,68
ty ei 1,901
e 0 09 9 0 4
Comp
any
Limite
d
3,006, 2,186, 12,859
Liabili Guang Zhu 630,00 819,94 73,903
Fuel supply Coal 35% 35% 430,57 490,18 ,950,4
ty zhou Dejun 0,000 0,393 ,456
9 6 75
Comp
any
Limite
Hydra
d
ulic 3,756, 3,093,
Yunnan Baoshan Liabili Baosha Liu 713,00 663,13 110,22 -70,59
power 29% 29% 408,01 273,49
Binlangjiang ty n Yibin 0,000 4,519 9,133 6,447
genera 8 9
Comp
tion
any
Limite
d
1,000, 1,989, 1,554,
Liabili Taiyua Liang 434,91 168,74
Shanxi Energy Coal 000,00 40% 40% 357,45 439,93 0
ty n Jian 7,514 0,794
0 2 8
Comp
any
Limite
d
Yang 2,000, 15,104 12,848 2,256,
Liabili Guang Financ 366,71 175,07
Yudean Finance Xuan 000,00 25% 25% ,450,7 ,190,5 260,17
ty zhou e 1,763 1,742
xing 0 50 73 7
Comp
any
Limite
Therm
d
Hong al 8,848, 6,949, 1,898, 2,110,
Liabili Guang 847,40 42,194
West Investment Rongk power 26% 26% 368,68 503,29 865,38 301,46
ty zhou 0,000 ,689
un genera 3 6 7 3
Comp
tion
any
Limite
d 2,465, 6,830, 4,247, 2,582,
Guang Zhu 878,19 3,997,
Yudean Shipping Liabili Ship 800,00 35% 35% 077,38 264,96 812,42
zhou Dejun 8,957 964
ty 0 8 0 8
Comp
any
Limite
d Wind
Li
Shibeishan Wind Liabili Guang power 231,70 517,32 278,08 239,24 39,627 4,037,
Cheng 30% 30%
Power ty zhou genera 0,000 6,431 4,629 1,802 ,092 966
jun
Comp tion
any
Limite
Hydra
d
Huang ulic
Liabili Lincha 226,60 532,71 323,30 209,41 7,272, -3,119,
Linchang Yuntou Nin power 49% 49%
ty ng 0,000 5,609 0,781 4,828 786 390.52
g genera
Comp
tion
any
Limite
Therm
d
Yang al 1,168, 6,643, 5,478, 1,164,
Liabili Zhaoto
Weixin Yuntou Guow power 277,40 40% 40% 420,71 440,61 980,10 0 0
ty ng
en genera 0 7 5 2
Comp
tion
any
Limite
d Wind
Shantou Wind Liabili Shanto Yang power 194,19 532,44 265,34 267,09 47,882 18,358
25% 25%
power ty u Qing genera 0,000 1,795 6,752 5,043 ,015 ,577
Comp tion
any
Limite
Hydra
d
Li ulic
Jiangkeng Liabili Qingy 22,839 26,393 1,428, 24,965 4,950, 2,126,
Guans power 25% 25%
Hydroelectric station ty uan ,076 ,378 021 ,357 777 280
heng genera
Comp
tion
any
Limite
Hydra
d
Luo ulic
Zhongxinkeng Liabili Qingy 15,150 29,372 9,095, 20,277 5,475, 3,269,
Shihen power 40% 40%
Power ty uan ,000 ,505 370 ,135 411 713
g genera
Comp
tion
any
Statements on material diversity in accounting policies, estimations adopted by the Company and the affiliates:
15. Long term share equity investment.
（1）Details of long-term equity investment
Unit：RMB
Explaination of
diffirence between
Shareholding Voting right shareholding
Accounting Initial investment Cash
Name Original balance change Ending Balance proportion in the proportion in the proportion and Devalue Current devalue
method cost bonus
investee investee voting right
proportion in
investee
Sunshine
insurance Group Cast method 356,000,000 356,000,000 356,000,000 5.34% 5.34%
Co., Ltd.
Shenzhen
Chuangxin
Cast method 115,000,000 115,000,000 115,000,000 3.67% 3.67% 13,781,250
Investment Co.,
Ltd.
Maomeng
Energy-saving
Cast method 903,707 903,707 903,707 15% 15%
coral water Co.,
Ltd.
Guoyi Invite
public
Cast method 3,600,000 3,600,000 3,600,000 1.97% 1.97% 900,000
bidding Co.,
Ltd.
Total -- 475,503,707 475,503,707 0 475,503,707 -- -- -- 0 0 14,681,250
（2）Constrains on the ability to transfer capital to invested entities
Unit：RMB
Constrains on the ability to transfer Accumulated investment loss not
Causation of constrain
capital to long-term invested entities recognized
Statements on long-term equity investment：
16.Investment real estate
（1）Measured by the cost of investment in real estate
√Applicable □Not applicable
Unit：RMB
Items Book amount at year Increase at this Decrease at this Book balance in year
beginning period period -end
1. Total original
20,135,165 0 0 20,135,165
price
20,135,165 20,135,165
1.House, Building
2.Land use right
II.Total
accumulated
8,024,938 -317,799 0 8,342,737
depreciation
accumulated
amortization
8,024,938 -317,799 0 8,342,737
1.House, Building
2.Land use right
III. Total book value
12,110,227 0 0 11,792,428
of investment real
estate
12,110,227 11,792,428
1.House, Building
2.Land use right
IV. Total of
accumulated
provision for
0 0 0 0
devaluation of
investment real
estate.
0
1.House, Building
2.Land use right
V. Total book
12,110,227 0 0 11,792,428
value of investment
real estate
12,110,227 11,792,428
1.House, Building
2.Land use right
Unit：RMB
This period
Current amount of depreciation and amortization 0
Investment real estate in this period the amount of impairment 0
（2）Investment property on fair value basis
□Applicable √Not applicable
Statements the investment properties which have changed of measurement basis and those which are not licensed
yet, statement thereason and expected completion date.
17. Fixed assets
（1）Fixed assets
Unit：RMB
Items Book amount at Increase at this period Decrease at this Book balance in
year beginning period year -end
26,651,292,208 782,366,419 1,691,394,820 25,742,263,807
1. Total original price
Including: House ,
6,928,919,733 40,699 384,672 6,928,575,760
Building
19,193,565,883 775,578,937 1,682,016,714 18,287,128,106
Machinery equipment
308,627,504 3,010,472 8,118,629 303,519,347
Transportations
Office Equipment and
220,179,088 3,736,311 874,805 223,040,594
other
Book balance at Current term Current term Decrease at this Book balance in
--
year beginning new extra provision period year -end
II. Total of accumulative
11,297,854,935 0 727,164,064 938,119,516 11,086,899,483
depreciation
Including: House ,
2,367,805,393 0 124,384,761 75,658 2,492,114,496
Building
8,589,177,749 0 580,157,322 929,483,395 8,239,851,676
Machinery equipment
196,259,866 0 11,957,019 7,761,018 200,455,867
Transportations
Office Equipment and
144,611,927 0 10,664,962 799,445 154,477,444
other
Book balance at Book balance in
-- --
year beginning year -end
III. Total book value of
15,353,437,273 -- 14,655,364,324
Fixed assets
Including: House ,
4,561,114,340 -- 4,436,461,264
Building
10,604,388,134 -- 10,047,276,430
Machinery equipment
112,367,638 -- 103,063,480
Transportations
Office Equipment and
75,567,161 -- 68,563,150
other
IV. Total of Devalued
486,765,097 -- 415,916,786
Provision
Including: House ,
84,289,158 -- 84,289,158
Building
398,717,331 -- 327,869,020
Machinery equipment
2,245,506 -- 2,245,506
Transportations
Office Equipment and
1,513,102 -- 1,513,102
other
V. Total book value of
14,866,672,176 -- 14,239,447,538
Fixed assets
Including: House ,
4,476,825,182 -- 4,352,172,106
Building
10,205,670,803 -- 9,719,407,410
Machinery equipment
110,122,132 -- 100,817,974
Transportations
Office Equipment and
74,054,059 -- 67,050,048
other
Current depreciation is RMB 0 . The issue of fixed assets transferred from construction in progress original price
is RMB 0.
（2）Fixed assets temporarily in idle status
Unit：RMB
Original book Accumulated Impairment
Items Net book value Notes
value depreciation provision
House , Building
Machinery
600,000,000
equipment
Transportations
（3）Fixed assets leased by finance
√Applicable □Not applicable
Unit：RMB
Items Original book value Accumulated depreciation Net book value
House , Building
Machinery equipment
Transportations
（4）Fixed assets leased out on finance.
□Applicable √Not applicable
（5）Fixed assets held for sale at end of period
Unit：RMB
Predicted disposal Predicted disposal
Items Book value Fair value
expense date
（6）Fixed asset not licensed yet
Item Reason for not granted Expected date of grant
Manming Zhenneng
House
Thermoelectricity
Manming Zhenneng
Building
Thermoelectricity
Turbine Division Office
Zhanjiang Electric Power
Administrative production build
Zhanjiang Electric Power
ing
Administrative production build
Zhanjiang Electric Power
ing
Zhanjiang Electric Power Central control room (phase II)
Notes:
Maoming Zhenneng Thermoelectricity Co., Ltd. has not got the building and construction property rights;
Zhanjiang Power has more assets required to get the property rights. Four items having more value are listed here.
18.Project under construction
（1）
Unit：RMB
Year-end balance Year-beginning balance
Book balance Provision for Book Net Book balance Provision for Book Net
devaluation value devaluation value
Items
6,289,478,57 6,289,478,57 5,622,227,87
Jinhai 3#, 4# generate sets 5,622,227,874
8 8 4
Zhenneng 600MW#7 Generate 1,459,480,30 1,459,480,30 1,040,279,97
1,040,279,978
sets 7 7 8
Yuejiang 2x600MWLpgrade 1,135,124,61 1,135,124,61 1,000,144,26 1,000,144,266
project 5 5 6
Technology improvement 335,662,576 335,662,576 299,533,138 299,533,138
Jinghai 50KV output 281,626,612 281,626,612 279,017,341 279,017,341
Xuwen Yongshi Wind power 274,154,440 274,154,440 230,816,938 230,816,938
Dapu Project 245,751,929 245,751,929 217,138,806 217,138,806
Oil Shale power
142,328,924 142,328,924 135,208,890 135,208,890
project6x210MW
Humen Project2x1000MW 127,404,478 127,404,478 127,286,670 127,286,670
Bohe Project 1000MW 74,866,615 74,866,615 61,426,212 61,426,212
Other 258,163,432 -796,461 257,366,971 147,661,428 -796,461 146,864,967
10,624,042,5 10,623,246,0 9,160,741,54
Total -796,461 -796,461 9,159,945,080
06 45 1
（2）Significant changes in projects of construction-in-progress
Unit：RMB
Thereinto:
Project Accumulated
Amount at amount of Current Interest
Increase at Transferred to investment amount of Amount at year
Name Budget year Other reduction Project progress Current capitalization Capital source
this period fixed assets proportion of the interest end
beginning Interest rate
budget capitalized
capitalized
Jinhai 3#, 4# 7,174,620,0 5,622,227,8 Self fund, 6,289,478,5
667,250,704 98% 99% 726,829,530 170,923,134 6.55%
generate sets 00 74 loan 78
Jinghai 50KV Self fund,
352,273,800 279,017,341 2,609,271 94% 99% 281,626,612
output loan
Xuwen Yongshi Capital and
494,830,000 230,816,938 43,337,502 60% 60% 1,452,498 702,001 100% 274,154,440
Wind power loan
5,000,000,0
Dapu Project 217,138,806 28,837,421 224,298 5% 5% 22,352,802 3,843,463 6.56% Loan 245,751,929
00
10,936,660,
Humen Project 61,426,212 13,440,403 1% 1% Self 74,866,615
000
7,789,510,0
Humen Project 127,286,670 117,808 2% 2% Self 127,404,478
00
Oil Shale power 3,300,000,0
135,208,890 7,120,034 4% 4% Self 142,328,924
project 00
Yuejiang
4,960,000,0 1,000,144,2 1,135,124,6
2x600MWLpgr 134,980,349 23% 23% 98,281,977 31,980,659 3.28% Loan
00 66 15
ade project
Zhenneng
2,478,750,0 1,040,279,9 Capital and 1,459,480,3
600MW#7 425,497,115 80,657 6,216,130 73% 73% 96,261,940 34,552,200 6.56%
00 78 loan 07
Generate sets
Technology Not
299,533,138 202,403,804 16,928,223 149,346,143 Self 335,662,576
improvement applicable
Not
Other 146,864,967 110,502,004 Self 257,366,971
applicable
47,405,093, 9,159,945,0 1,636,096,4 10,623,246,
Total 17,008,879 155,786,570 -- -- 945,178,746 242,001,457 -- --
800 80 15 045
Statements on change of construction-in-progress：
（3）Impairment Provisions of Construction in progress
Unit：RMB
Increased this Decreased this
Items Beginning of term End of term Reason to provide
term term
Total -796,461 -796,461 --
（4）Major projects under construction
Items Project progress Notes
Jinhai 3#, 4# generate sets 99%
Jinghai 50KV output 99%
Xuwen Yongshi Wind power 60%
Dapu Project 5%
Bohe Project 1%
Humen Project 2%
Oil Shale power project 4%
Yuejiang 2x600MWLpgrade project 23%
Zhenneng 600MW#7 Generate sets 73%
（5）Statement on projects under construction
The project progress of major projects under construction based on June 30, 2011 should be assessed on the
basis of the completed projects quantity.
19.Engineering Material
Unit：RMB
Beginning of Increased this Decreased this
Items End of term
term term term
Spectial equipment 1,023,630,719 48,354,218 430,505,498 641,479,439
Tools 51,296 15,444 66,444 296
Total 1,023,682,015 48,369,662 430,571,942 641,479,735
Statement on project material：
20.Liquidation of fixed assets
Unit：RMB
Items Beginning book value Eng book value Reason of liquidation
Removed for technical
Power generation equipment 4,164,516 46,019,975
transformation and not yet
disposed
Total 4,164,516 46,019,975 --
Progress of fixed assets turn to be liquidated for over one year：
21.Production biological assets
（1）On costs
□Applicable √Not applicable
（2）On fair value
□Applicable √Not applicable
22.Petrolum assets
Unit：RMB
Beginning balance End balance of book
Items Increased this term Decreased this term
of book value value
1. Total of original
book value
1．Rights on proved
minefield
2．Rights on unproved
minefield
3．Wels and facilities
II.Total of
accumulative
depreciation
1．Rights on proved
minefield
2．Wels and facilities
III.Total Of
accumulative
impairment provision
on petroleum assets
1．Rights on proved
minefield
2．Rights on unproved
minefield
3．Wels and facilities
IV.Total of book value
of petroleum assets
1．Rights on proved
minefield
2．Rights on unproved
minefield
3．Wels and facilities
Statements on petroleum assets：
23. Intangible assets
（1）Intangible assets
Unit：RMB
Items Book Balance in Increase at this Book Balance in
Decrease at this period
year-begin period year-end
1,018,172,885 260,872 0 1,018,433,757
1. Total original price
Electric Transmission
442,517,684 442,517,684
project
Land use rights 496,916,007 496,916,007
Sea use right 26,849,101 26,849,101
Transportation project 22,468,672 22,468,672
Software 29,421,421 260,872 29,682,293
II. Total amount of
503,023,613 -13,710,985 0 516,734,598
accumulated
Electric Transmission
385,041,620 -5,481,867 390,523,487
project
Land use rights 75,181,876 -5,746,005 80,927,881
Sea use right 2,686,506 -268,491 2,954,997
Transportation project 20,583,182 -182,467 20,765,649
Software 19,530,429 -2,032,155 21,562,584
III. Book value of
515,149,272 -13,450,113 0 501,699,159
intangible assets
Electric Transmission
57,476,064 -5,481,867 51,994,197
project
Land use rights 421,734,131 -5,746,005 415,988,126
Sea use right 24,162,595 -268,491 23,894,104
Transportation project 1,885,490 -182,467 1,703,023
Software 9,890,992 -1,771,283 8,119,709
IV.Total value of
provision for 23,426,500 0 0 23,426,500
impairment
Electric Transmission 23,426,500 23,426,500
project
Land use rights
Sea use right
Transportation project
Software
V. Total of Book value
491,722,772 0 0 478,272,659
of intangible assets
Electric Transmission
34,049,564 28,567,697
project
Land use rights 421,734,131 415,988,126
Sea use right 24,162,595 23,894,104
Transportation project 1,885,490 1,703,023
Software 9,890,992 8,119,709
The amortization amount is RMB 0.
（2）The current expenditure on non-development projects
Unit:RMB
Decrease at this period
Balance in Increase at this Accounted into Balance in
Items Recognized as
year-begin period current income year-end
intangible asset
account
Total
R & D expenses of the current period accounted for % of the total coast of R&D.
Intangible asset formed by internal R&D of the period accounted for % of the total book value of intangible assets
Statement on R&D projects, including single account over RMB 1 million basing on evaluation results. Please
provide the evaluation body and basis of evaluation.
（3）Uncertificated intangible assets
24. Goodwill
Unit：RMB
Ending
Name of the investee or the Balance in Increase at this Decrease at this Book Balance in
devalue
matter of forming Goodwill year-begin period period year-end
provision
Total
Statement of basis for impairment testing and provision of goodwill：
25. Long-term amortization expenses
Unit ：RMB
Items Amount of Other Decrease Balance in year Other
Balance in Increase at
amortization at end
year-begin this period
current period
Total --
Statement on long-term amortizable expenses：
26. Deferred income tax assets/Deferred income tax liabilities
(1）Recognized deferred income tax assets and deferred income tax liabilities
□Applicable √Not applicable
(2)Recognized deferred income tax assets and deferred income tax liabilities
√Applicable □Not applicable
The netting balances of deferred tax assets and liabilities after offsetting
Unit：RMB
Deferred Temporarily
Temporarily Deferred Income
Income Tax Deductable or
Deductable or Tax Assets or
Assets or Taxable
Items Taxable Difference Liabilities at the
Liabilities at the Difference at the
at the End of Beginning of
End of Report Beginning of
Report Period Report Period
Period Report Period
Deferred income tax assets：
Assets depreciation reserves 9,267,648 37,070,593 9,267,648 37,070,593
Start-up costs 2,161,626 9,833,207 2,161,626 9,833,207
Deductible loss 73,130,768 292,523,073 73,130,768 292,523,073
Subtotal 5,996,395 23,985,580 5,996,395 23,985,580
Deferred income tax liability：
Trading of financial instruments
and Derivative financial
instruments
Increase and decrease of fair value
of available-for-sale financial 3,674,601 14,698,401 2,619,939 10,479,757
assets
Subtotal 3,674,601 14,698,401 2,619,939 10,479,757
Details of taxable differences and deductible differences
Unit：RMB
Items Offsetting Amounts of This Period
The offsetting between the deductable losses
(assets) and the depreciation differences
(liabilities) resulted from the commissioning
costs of Zhenneng Thermoelectricity
The offsetting between the deductable losses
(assets) and the depreciation differences
(liabilities) resulted from the commissioning
costs of Zhongyue Energy
The changes of payable remuneration
(assets) to employees and the fair value of an
available-for-sale financial assets recognized
in the capital reserves of headquarters
The changes of capital government subsidies
(assets) and the fair value of an
available-for-sale financial assets recognized
in the capital reserves of headquarters
Details of taxable differences and deductible differences
27.Detail of asset impairment provision
Unit： RMB
Decrease at this period
Balance of book
Withdrawal Transfer in
Balance of
value at Increase at this amount in this
book value at
Items
beginning of period end of term
term
1. Bad debt provision
2 Inventory impairment
-21,580,149 0 0 0 -21,580,149
provision
3. Disposable financial
asset impairment
provision
4. Investment equity hold
till expiring impairment
provision
5. Long-term equity
investment impairment 0 0
provision
6. Property investment
0 0 0
impairment provision
7.Fixed asset impairment
486,765,097 415,916,786
provision
8. Project material
impairment provision
9. Construction in process
-796,461 -796,461
impairment provision
10 Production biological
material asset impairment
provision
Incl. Mature
production biological
material asset impairment
provision
11. Gas & oil asset
impairment provision
12. Intangible asset
23,426,500 0 23,426,500
impairment provision
13. Goodwill impairment
provision
14.Other
Total
Statement on details of asset impairment：
28.Other non-current assets
Unit：RMB
Items At end of term At beginning of term
Prepay project funds 57,184,721 148,601,055
Prepay equipment funds 20,694,690 59,142,351
Unrealized loss of sale and l
283,801,197 279,789,452
easeback
Total 361,680,608 487,532,858
Statement on other non-recurring assets
29. Short-term borrowings
（1）Categories of short-term loans
Unit:RMB
Items At end of term At beginning of term
Loan by pledge 298,000,000
Pledged loan
Guarantee loan
Credit loan 9,286,600,000 9,020,000,000
Total 9,286,600,000 9,318,000,000
Statement on categories of short-term loans：
(a) As at 30 June 2012，Unsecured borrowings amounted to RMB 3,080,000,000 is from Yudean Group (31
December 2011:RMB3,045,000,000), Unsecured borrowings amounted to RMB 250,000,000 is from Yudean
Finance (31 December 31,2011:RMB300,000,000)
(b)As of June 30, 2012, There are no overdue short-term borrowings.
（2）Short-term loans expired but not repaid
Unit：RMB
Amount of Scheduled repaying
Loan provided by Interest rate Usage of loan Reason of overdue
loan date
Total -- -- -- --
Repaid in post-balance-sheet period.
Statement on short-term loans, including due but extended. Please provide the extending conditions and extended
expiration date.
30.Transactional financial liabilities
Unit：RMB
Items Fair value at end of term Fair value at beginning of term
Transactional bonds issued
Financial liabilities accounted on fair
value and the fluctuations accounted
into current gain/loss account
Deductive financial liability
Other financial liabilities
Total
Statement on transactional financial liabilities：
31.Bills payable
Unit：RMB
Type At end of term At beginning of term
Commercial acceptance 318,160,000
Bank acceptance 373,000,000 343,083,604
Total 691,160,000 343,083,604
Amount due in next fiscal period is RMB 691,160,000.
Statement on Bills payable：
32 Account payable
（1）
Unit：RMB
Items At end of term At beginning of term
Fuel payable 2,053,354,062 2,116,551,880
Construction and equipment payable 655,976,236 1,098,131,151
Materials payable 188,140,865 158,354,658
Other 372,511,295 76,822,241
Total 3,269,982,458 3,449,859,930
（2）Account payable to shareholders holding 5% or over of the Company’s shares in the report period
√Applicable □Not applicable
Statement on payable accounts due for over one year
As of June 30, 2012, the balance with ageing over than one year is RMB539,358,011, and it is mainly
represent payables to construction, equipment suppliers. Because these projects have not been
completed / accepted of completion, such balances have not been finally settled.
33. Received in advance
（1）
Unit：RMB
Items At end of term At beginning of term
Total 9,810,640 2,315,543
（2）Prepayment collected from shareholders holding 5% or over of the Company’s shares in the report period.
□Applicable √Not applicable
The description of large-sum accounts payable with the age over 1 year:
34. Employee salary of payable
Unit: RNB
Items Book Balance in Increase in the current Decrease in the current Book Balance in
year-begin period period year-end
1.Wages, bonuses,
37,248,924 333,620,185 260,935,776 109,933,333
allowances and
subsidies
2.Employee
11,016,578 40,132,326 40,132,326 11,016,578
welfare
3. Social insurance
7,040,863 90,357,153 84,973,491 12,424,525
premiums
Medical insurance 7,027,645 21,584,699 18,848,878 9,763,466
Basic old-age
9,545 63,189,577 60,720,351 2,478,771
insurance
premiums
Unemployment
3,673 1,984,255 1,900,004 87,924
insurance
Work injury
0 2,402,022 2,367,256 34,766
insurance
Maternity
0 1,196,600 1,137,002 59,598
insurance
IV. Public reserves
0 74,330,719 74,330,719 0
for housing
V. .Refuse welfare 114,395,535 2,783,635 19,481,955 97,697,215
VI.Other 35,761,022 18,249,816 17,832,257 36,178,581
35,761,022 18,249,816 17,832,257 36,178,581
Total 205,462,922 559,473,834 497,686,524 267,250,232
The amounts of arrears of staff salary and welfare payable are RMB 0 00.
The amounts of trade union funds and staff education expenses are RMB34,665,771, the amounts of
non-monetary benefits are RMB97,697,215, and the compensations for the lifting of labor relations is 0
The expected release time and amount of staff salary and welfare payable are arranged in the beginning of next
year.
The payable salaries, bonuses, allowances, subsidies and employee welfare expenses will be offered and used up in
2012, the social insurances and the housing funds will be turned in to the relevant government departments in 2012,
and the welfare benefits of early retirement staff are expected to give and use up one by one before 2015.
35. Tax Payable
Unit：RMB
Items At end of term At beginning of term
VAT 4,994,799 2,024,111
Consumption tax
Business Tax 1,396,916 1,311,765
Enterprise Income tax 63,726,063 20,757,183
Individual Income tax
City Construction tax 478,678 1,181,880
Educational surcharge payable 405,215 1,138,468
Individual income tax payable 2,941,167 21,159,117
House tax payable 8,929,719
Other 9,059,734 8,748,419
Total 83,002,572 65,250,662
Statement on tax payable: Please provide the calculating processes then taxable income is balanced between
branch companies or factories as approved by the tax bureau.
36. Interest Payable
Unit：RMB
Items At end of term At beginning of term
Long-term loans interest of installment and
17,379,529 11,046,615
interest charge
Debenture interest 34,205,479 89,205,479
Short term loan interest payable 19,941,436 22,414,662
Total 71,526,444 122,666,756
Statement on interest payable：
37.Dividend payable
Unit：RMB
Reason of overdue for one
Name At end of term At beginning of term
year
Common stock dividend
175,134,804 7,323,298
payable to the Company
Shaoguan Power Plant D 3,521,190 3,521,190
Qujiang Electric 1,408,476 1,408,476
Chaokang Investment Co.,
3,300,000
Ltd.
Total 180,064,470 15,552,964 --
Statement on interest payable：
38.Other Payable
（1） Unit：RMB
Name At end of term At beginning of term
Performance guarantee deposits from
534,632,189 601,765,566
construction
Construction and equipment payable 139,234,870 122,318,121
Advance from shaoguan Electric
73,506,568 30,083,004
Power plant
Rent fee for shaoguan Plant D
1,750,737 1,750,737
payable
Other 118,509,507 61,331,505
Total 867,633,871 817,248,933
（2）In the balance of other payable, there were no funds of shareholders holding 5% (including 5%) or more of the
voting right of the Company;
□Applicable √Not applicable
（3）Statement on large amount other payable accounts due for over one year
(a) As of June 30, 2012 the balances with ageing over one year amounted to RMB300,134,413 are
mainly represent the performance guarantee deposits
from construction and equipment suppliers, and they have not been settled.
（4）Statement on large amount other payable accounts
39.Estimated liabilities
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Providing of external
guarantee
Unsettled lawsuit
Quality warranty
Reconstruction
liabilities
Dismissing policy
Loss contract to be
executed
Other
Total
Statement on anticipated liabilities：
40. Non-current liabilities due within one year
（1）
Unit：RMB
Name At end of term At beginning of term
Long-term loans due in 1 year 533,940,000 625,670,000
Bond payable due in 1 year
Long-term payable due in 1 year 434,442,437 314,471,518
Total 968,382,437 940,141,518
（2）Long-term loans due in 1 year
Long-term loans due in 1 year
Unit：RMB
Name At end of term At beginning of term
Loan by pledge 176,540,000 247,550,000
Pledged loan
Guarantee loan
Credit loan 357,400,000 378,120,000
Total 533,940,000 625,670,000
Among the long-term loans due in 1 year, the loans overdue but extended is amounted to RMB 0.
Top 5 long-term loans due in 1 year
Unit：RMB
Loans Year-end balance Year-beginning balance
Loans Interest rate Amount of Amount of Amount of Amount of
Loan unit starting Currency
Foreign RMB Foreign RMB
ending date (%)
date currency currency
Agricaultural December4 June 111,000,00 111,000,00
CNY 6.12%
Bank of China , 2007 3,2013 0 0
China
May29,200 June 159,600,00
Constrcution CNY 6.35% 99,000,000
6 30,2013 0
Bank
Bank of China June June CNY 6.35% 87,060,000 130,590,00
30,1998 30,2013 0
Yudean December1 June
CNY 6.35% 50,000,000 50,000,000
Finance 0,2007 5,2013
April,25,20 June 134,480,00
ICBC CNY 6.35% 45,000,000
06 30,2013 0
392,060,00 585,670,00
Total -- -- -- -- -- --
0 0
Overdue loans among the long-term loan due in 1year：
Unit：RMB
Loan provided Annual interest Reason for Scheduled
Total amount Date of mature Usage of loan
by rate(%) overdue repaying date
Total 0 -- -- -- -- --
Among repaid in post-balance-sheet day.
Statement on long-term loans due in 1 year：
（3）Bonds payable due in 1 year
Unit：RMB
Interest Interest
Interest Interest
Face Date of Issuing payable at payable at End of
Bond Bond term occurred paid this
value issue amount beginning end of balance
this period period
of period period
Statement on bond payable due in 1 year：
（4）Long-term payable account due in 1 year
Unit：RMB
Interest Interest
Loans from Term Initial amount End balance Condition
rate(%） payable
Jinghai Power Financing
10 years 133,712,489 5.85% 4,230,429 133,712,489
Generation leasing
Jinghai Power Financing
6 years 0 7.05% 4,254,358 120,552,092
Generation leasing
ZhongyueEner Financing
10 years 121,661,618 5.85% 2,817,435 86,280,702
gy leasing
Yuejiang Financing
5 years 59,097,411 115,641 93,897,154
Power leasing
Generation
Statement on long-term payable due in 1 year：
41.Other current liabilities
Unit：RMB
Items Year-end balance Year-Beginning balance
Total
Statement of other current liabilities：
42. Long-term loan
（1）Long-term loans classifications
Unit：RMB
Items Year-end balance Year-Beginning balance
Loan by pledge 1,448,410,100 1,231,880,000
Pledged loan
Guarantee loan
Credit loan 5,641,700,000 5,809,806,371
European Investment Bank loan
182,863,558 125,467,037
（USD）
Total 7,272,973,658 7,167,153,408
As regards long-term loans classifications：
（2）The top five of long-term loans
Unit：RMB
Loans Year-end balance Year-beginning balance
Loans Interest rate Amount of Amount of Amount of Amount of
Loan unit starting Currency
Foreign RMB Foreign RMB
ending date (%)
date currency currency
China
May 29, June 12, 1,097,000,0 2,417,800,0
Constructio CNY 6.35%
2006 2021 00 00
n Bank
Agricultura
December4 December3 1,942,500,0 2,159,000,0
l Bank of CNY 6.12%
,2007 ,2025 00 00
China
Yudean July December5 875,000,00 900,000,00
CNY 6.35%
Finance 17,2007 ,2025 0 0
April25,20 April 840,000,00 1,384,745,0
ICBC CNY 6.35%
06 23,2022 0 00
Bank of June June 240,945,10 273,200,00
CNY 6.35%
China 30,1998 21,2020 0 0
4,995,445,1 7,134,745,0
Total -- -- -- -- -- --
00 00
Statement on long-term loans. For long-term loans over due but extended for another period, please provide the
conditions, principal, interest rate, and repayment arrangement.
43.Bond payable
Unit：RMB
Interest Interest
Interest Interest
Face Date of Issuing payable at payable at End
Bond Bond term occurred paid this
value issue amount beginning end of balance
this period period
of period period
Company 2,000,000, March 2,000,000, 55,000,00 110,000,0 1,992,793,
7 years
Bonds 000 10,2008 000 0 00 519
Statement on bonds payable, including the condition and time of converting of the convertible bonds：
44.Long-term payable
（1）Top 5 long-term payable
Unit：RMB
Interest rate Interest
Name Term Initial amount End balance Condition
（%） payable
（2）Details of finance leasing payments in long-term payable
Unit :RMB
End of term Beginning of term
Name
Foreign currency RMB Foreign currency RMB
Jinghai Power Generation 0 1,201,774,446 0 795,482,488
Zhongyue Energy 0 684,975,700 0 684,975,700
Yuejiang Power Generation 0 172,344,161 0 260,705,299
Total 0 2,059,094,307 0 1,741,163,487
Guarantee provided by the 3rd party for the leasing finance is amounted to RMB0.
Statement on long-term payables：
45.Special payable
Unit：RMB
Beginning of Increased this Decreased
Items End of term Remarks
term term this term
Total --
Statement on special payable accounts：
46.Other Non-current liabilities
Unit：RMB
Items Year-end balance Year-beginning balance
Government grants related with assets－
Desulfurization project for 5# set (a) 20,000,000 21,538,462
Water-freshing project (b) 2,000,000 2,000,000
Flow modification and expansion project
5,610,000 5,610,000
(c)
Port and port construction fees
4,957,072 2,359,846
(d)
income-related government grants－
Competition Fund of State-owned Assets
13,000,000 12,000,000
Regulatory Commission (e )
Proceeds of sale and leaseback financ
3,222,214
ing fixed assets
Total 45,567,072 46,730,522
Statement on other non-current liabilities, including asset-related and income-related government subsidy and
closing balances:
a. The payment that Guangdong Province Department of Finance has specially made from Guangdong Yudean
Group Co., Ltd. for the desulfurization project of Unit 5 in Shaojiao A Power Station, a branch of the company, in
2005. The Group shall comply with the relevant assets expected available to use for 13-year to conduct a average
amortization for this subsidy income from the commencement date of project completion.
b. The payment has been made specially for the freshwater project of Zhongyue Energy by Zhanjiang Government.
The Group hasn’t yet completed the construction of freshwater project till June 30, 2012. So, no amortization is
conducted.
c. The special funds of energy saving and emission reduction that Shaojiao A Power Station has received this year
are payed for the project of units expansion flow reconstruction. The Group hasn’t yet completed the construction of
this project till June 30, 2012. So, no amortization is made.
d. The construction funds that Shaojiao A Power Station has received this year are payed for the construction of
Humen Port. The funds haven’t yet used currently, the Group plans to use after 2012. So, no amortization is made.
e. It is the special capital of reformation and development that Zhanjiang Wind-Power has received this year, which
is related to future long-term earnings. So, no amortization is made.
47. .Stock capital
Unit：RMB
Balance Increase/decrease this time (+ , - )
Transferred Balance
Year-beginni Issuing of year-end
Bonus shares from Other Subtotal
new share
ng reserves
Total of 2,797,451,13 2,797,451,13
0
capital shares 8 8
Statement of change in capital shares. Name of CPA and number of verification report shall be provided if capital
increasing or decreasing occurred in the report period; as for shareholding limited companies incorporated for less
than three years, only net assets is required for the years prior to incorporation; for shareholding limited
companies reformed from limited companies shall provide the capital verification at incorporation.
48.Shares in stock
Statement on share in stock
49.Special reserves
Statement on special reserves
50. Capital reserves
Unit：RMB
Items Year-beginning Increase in the Decrease in the Year-end balance
balance current period current period
Share premium 1,666,944,650 626,198 1,666,318,452
Other capital reserves
Assessment of value 119,593,718 119,593,718
Change in fair value of
available-for-sale 54,404,412 4,218,645 58,623,057
financial assets
Tax on change in fair value
-13,601,101 1,054,661 -14,655,762
of available-for-sale
Transfer from the balance
20,474,592 20,474,592
of capital surplus
recognised under previous
accounting
Total 902,300 902,300
Total 1,848,718,571 4,218,645 1,680,859 1,851,256,357
Statement on capital reserves：
In 2012, the Group and Guangdong Electric Power Development Company accepted the share of additional
capital of Zhenneng Power Plant abandoned by Guangdong Yuedianlian Investment Development Co., Ltd.
according to respective proportion of capital contribution. As a result, capital surplus-share capital premium
decreased by RMB 626,198. The ratio of the Company's shareholding in Zhenneng Power Plant rose from 56.39%
at the beginning of the year to 58.27%.
51. Surplus reserve
Unit ：RMB
Items Year-beginning Increase in the current Decrease in the Year-end balance
balance period current period
Statutory surplus reserve 1,551,741,269 51,453,596 1,603,194,865
Optional surplus reserves 2,223,739,763 128,633,990 2,352,373,753
Preserved fund
Enterprise development
fund
Other
Total 3,775,481,032 180,087,586 0 3,955,568,618
Statement on surplus reserves. Please state the related resolutions of the Board on capitalizing of reserves, making
up losses, and dividends：
52.Providing of common risk provisions
Statement on common risk provisions：
53. Retained profits
Unit：RMB
At end of term At beginning of term
Percentage Percentage
Items
Amount of drawing Amount of drawing
or allocation or allocation
Before adjustments:
1,784,972,625 -- 2,058,635,851 --
Retained profits at the
period end
Adjustments: Total
retained profits at the
-- --
period beginning
（+，-）
After
adjustments:Retained
-- --
profits at the period
beginning
Add：Net profit
belonging to the owner of 292,168,221 -- 356,321,879 --
the parent company
Less：Drawing statutory
51,453,596 100,068,569
surplus reserve
Drawing discretionary
128,633,990 250,171,422
surplus reserve
Drawing commonly risk
provisions
Payable dividends of
167,847,069 279,745,114
common shares
Transfer to common
stock equity dividends
Retained profits at the
1,729,206,191 -- 1,784,972,625 --
period end
As regards the details of adjusted the beginning undistributed profits
(1)As the retroactive adjustment on Enterprise Accounting Standards and its related new regulations, the affected
beginning undistributed profits are RMB 0.00.
(2) As the change of the accounting policy, the affected beginning undistributed profits are RMB 0.00.
(3) As the correction of significant accounting error, the affected beginning undistributed profits are RMB 0.00 .
(4) As the change of consolidation scope caused by the same control, the affected beginning undistributed profits
are RMB 0.00.
(5) Other adjustment of the total affected beginning undistributed profits are RMB 0.00 .
Statement on retained profit: for companies issued their securities for the first time, if the accumulated profit
before the issuing is shared by the new and existing shareholders as approved by the shareholders’ meeting, shall
be described particularly; if the accumulated profit before the issuing is shared only by existing shareholders as
approved by the shareholders’ meeting, the Company shall provide the details of dividend payable to the existing
shareholders as audited by CPA.
54. Business income, Business cost
（1）Business income, Business cost
Unit： RMB
Items Amount of current period Amount of previous period
Income from Business income 7,768,087,935 6,419,956,038
58,391,946 50,805,647
Other Business income
Business cost 6,997,972,389 5,797,248,108
（2）Main business（Industry）
□Applicable√ Not applicable
（3）Main business（Production）
√Applicable □Not applicable
Unit ：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Power sales 7,735,315,438 6,952,100,646 6,405,066,896 5,754,454,210
Heat supply 9,608,000 5,985,630
Provide labor service 23,164,497 20,742,724 14,889,142 14,845,177
Total 7,768,087,935 6,978,829,000 6,419,956,038 5,769,299,387
（4）Main Business（Area）
□Applicable√ Not applicable
（5）Total income and the ratio of operating income from top five clients
Unit：RMB
Name Business Income Proportion(%)
GPGC 7,735,234,621 98.834%
China Petroleum
9,608,000 0.123%
&ChemicalCorporation.
Maoming Branth
Shaoguan Qujiang Xinze
9,188,374 0.117%
Trade Development Co., Ltd.
Shajiao C 8,376,421 0.107%
Shaoguang Songrao
Environmental protection 6,855,595 0.088%
Construction Co., Ltd
Total 7,769,263,011 99.269%
Statement on operating income
55. Contract income
□Applicable√ Not applicable
Statement on Contact Items：
56. Business taxes and surcharges
Unit：RMB
Amount of current Amount of previous
Items Project payment standard
period period
Excise
Business tax 2,096,914 1,646,108
City maintenance and
12,222,118 19,374,279
construction tax
Surcharge for education 11,337,729 15,915,692
Resource tax
Total 25,656,761 36,936,079 --
Statement on Business taxes and surcharges：
57.Income from fair value fluctuation
Unit：RMB
Source of income from fluctuation of fair
Occurred current term Occurred in previous term
value
Transactional financial assets
Incl：Gains from fluctuation of fair value of
derivate financial instruments
Trade off financial liabilities
Investment property measured at fair value
Other
Total
Statement on Income from fair value fluctuation：
58. Investment income
（1）Income from investment
Unit：RMB
Items Amount of current period Amount of previous period
Long-term equity investment income by
14,681,250 11,025,000
costing
Long-term equity investment income by
234,407,050 267,642,210
equity method
Dispose the investment income from the
long-term equity
investments
Hold the investment income which gained
from the transactional
financial assets
Gain the investment income from the
held-to-maturity investment
Hold the investment income during from
available-for-sale financial assets
Dispose the investment income from the
transactional financial assets
Dispose the investment income from the
held-to-maturity investment
Dispose the investment income from the
6,393,225 4,402,150
available-for-sale financial assets
Other 14,240,369 15,615,373
Total 269,721,894 298,684,733
（2）long-term equity investment gains on cost basis
Unit ：RMB
Occurred in
Company Occurred current term Causation of change
previous term
Shenzhen Chuangxin Technology Increase in assigned dividend
13,781,250 11,025,000
Investment Co., Ltd. investment unit
Guoyi Invitepublic bidding Increase in assigned dividend
900,000 0
Holding Co.,Ltd. investment unit
Total 14,681,250 11,025,000 --
（3）Long-term equity investment gains on equity basis
Unit：RMB
Occurred in
Company invested in Occurred current term Causation of change
previous term
Gains from investment increa
Shanxi Yudean Energy Co., Ltd. 67,496,318 26,686,964
sed
Yudean Finance 43,722,377 26,196,584 Gains from interest increased
Guangdong Red Bay 43,020,475 25,518,527 gains from interest increased
Electricity, electricity prices
Shenzhen Guangqian 31,757,399 91,765,597
decreased
Electricity, electricity prices
Huizhou Natural gas 30,775,261 54,462,148
decreased
Guandong Electric power The coal-fired power plant p
25,866,209 22,742,574
Industry Fuel Co., Ltd. urchase volume increased
Yudean Holding West Investment
4,730,706 -3,185,676
Co., Ltd.
Huaneng Shantou Wind Power
4,589,644 6,048,592
Co., Ltd.
Guangdong Yudean Shipping
1,399,287 15,500,092
Co.,Ltd.
Yangshan Zhongxinkeng Electric
1,307,885 0
power Company
Shibeishan Wind power
1,211,390 906,038
Developemnt Co., Ltd.
Yangshan Jiangkeng Hydropower
531,570 0
Station
Linchang Yuntou Hydropower
-1,528,501 0
Development Co., Ltd.
Yunnan Baoshan Binlangjiang
Hydropower Development Co., -20,472,970 1,000,770
Ltd.
Total 234,407,050 267,642,210 --
Statement on investment gains, please state whether or not there are material constrains on retrieving of
investment gains.：
59. .Loss of assets impairment
Unit： RMB
Name Amount of current period Amount of previous period
Loss for bad debts 2,000,879 2,000,879
2．Loss for falling price of Inventory 21,580,149 21,580,149
3 ． Loss for devaluation of financial asset
available for sales
4．Loss for devaluation of held-to maturity
investment
5．Loss for devaluation of long-term equity
investment
6．Loss for devaluation of investing property
7．loss for devaluation of fixed assets 486,765,097
8．loss for devaluation of engineering materials
9．loss for devaluation of construction in progress 796,461
10．loss for devaluation
Of productive biological asset
11．loss for devaluation of oil asset
12．loss for devaluation of intangible asset 23,426,500
13．loss for devaluation of goodwill
14．other
Total
60. Non-operating income
（1）
Unit：RMB
Items Amount of current period Amount of previous period
Total income from liquidation of non-current
42,366,939
assets
42,366,939
Including：Income from liquidation of fixed asset
Income of the sale of intangible assets
Debt restructuring profits
Non-monetary assets Exchange profits
Donation accepted
Government Subsidy 4,423,146 2,497,487
Other 1,132,264 4,322,252
Total 47,922,349 6,819,739
（2）Government subsidy list
Unit：RMB
Items Amount of current Amount of previous Notes
period period
Income of levy and refund
1,698,185 959,026
of VAT
Amortization of Governm
1,538,461 1,538,461
ent Subsidy
River seawall reinforceme
1,186,500
nt grants
Total 4,423,146 2,497,487 --
Statement on Non-operating income
61. Non-operating expenses
Unit： RMB
Items Amount of current period Amount of previous period
Total Disposal of loss of non-current assets
Including：Disposal of net loss of fixed assets 0 2,605,159
Disposal of loss of Intangibles assets 18,000 4,300
Losses from debt restructuring
Non-monetary assets exchange losses
Donation expenses
1,025
Fine expenses
1,172,397 2,648,771
Other expenses
Total 1,190,397 5,259,255
Statement on non-operational expenditures：
62. .Income tax expenses
Unit ：RMB
Items Amount of current period Amount of previous period
Income tax at current period according to taxation and
75,884,101 71,547,849
related regulation
-6,754,427
Adjustment Deferred income tax
340,304
Total 75,884,101 65,133,726
63. Calculation process of basic earnings per share and dilute earning per share
64. Other comprehensive income
Unit:RMB
Items Amount of current period Amount of previous period
4,218,645 -8,219,537
1.Loss amount produced by sellable financial assets
Less：Deduct: income tax infection produced by
1,054,661 -2,054,884
sellable financial assets
Net amount transferred into profit and loss at current
period that reckoned into other comprehensive income
at former period
3,163,984 -6,164,653
Subtotal
2. The enjoyed share in other comprehensive income
of other invested unit according to equity method
Less：Deduct: income tax infection produced from
the enjoyed share in other comprehensive income of
other invested unit according to equity method
Net amount transferred into profit and loss at
current period that reckoned into other comprehensive
income at former period
0 0
Subtotal
3.. Benefit (or loss) amount produced from cash flow
Less：Deduct: income tax infection produced from
cash flow hedging instruments
Net amount transferred into profit and loss at
current period that reckoned into other comprehensive
income at former period
Transferred to the adjustment of initial confirmation
amount of items at hedged period
0 0
Subtotal
4. Translating difference in foreign currency financial
reports
Less：Deduct: net amount that transferred into
profit and loss at current period in disposed overseas
business
Subtotal
5..Other
Less ：taxation infection arising from reckoning
other comprehensive income.
Net amount transferred into profit and loss at
current period that reckoned into other comprehensive
income at former period
0 0
Subtotal
3,163,984 -6,164,653
Total
Statement on Other comprehensive income
65.Cash flow statement Notes
（1）Cash received related to other operating activities
Unit：RMB
Items Amount
Insurance indemnity 6,610,852
Interest income 18,898,272
Government Subsidy 4,552,853
Recovered current money 35,188,143
Other 9,890,982
Total 75,141,102
Statement on Cash received related to other operating activities
（2） Cash paid related to other operating activities
Unit：RMB
Items Amount
Swwage charge 24,024,888
Insurance expenses 23,121,617
Equipment cleaning and hygiene green fee 11,944,870
Transportation fee 8,907,450
Fire guard fee 8,233,079
Business fee 7,388,997
Agency Charge 7,071,229
Embankment protection fees 6,241,113
Office Expenses 6,054,761
Travel expenses 4,762,786
Rental fee 3,875,609
Test fee 3,504,062
Enterprise publicity expenses 3,436,926
Director fee and other conference fee 2,904,366
Land use fees and sea areas use fees 2,429,542
Information system maintenance 1,735,450
Water and electrical 1,622,134
R&D development 1,451,110
Property Management fee 1,382,665
Other 53,584,204
Total 183,676,858
Statement on Cash paid related to other operating activities
（3） Cash received related to other investment activities
Unit：RMB
Items Amount
Total
Statement on Cash received related to other investment activities
（4）Cash paid related to other investment activities
Unit：RMB
Items Amount
Enrusted lan fees 142,686
Total 142,686
Statement on Cash paid related to other investment activities
（5）Cash received related to financing activities
Unit：RMB
Items Amount
Total
Statement on Cash received related to financing activities
（6）Cash paid related to financing activities
Unit：RMB
Items Amount
Bank acceptance deposits 60,000,000
Financing lease 25,549,589
Other 447,285
Total 85,996,874
Statement on Cash paid related to financing activities
66. Supplement Information for cash flow statement
（1）Supplement Information for cash flow statement
Unit :RMB
Supplement Information Amount of current period Amount of previous period
I. Adjusting net profit to cash flow from operating
-- --
activities
Net profit 337,209,371 323,684,298
Add: Impairment loss provision of assets
Depreciation of fixed assets, oil and gas assets and
727,481,863 575,104,418
consumable biological assets
Amortization of intangible assets 13,710,985 12,686,781
Amortization of Long-term deferred expenses
Loss on disposal of fixed assets, intangible assets
-42,348,939 2,609,459
and other long-term deferred assets
Loss from Fixed assets Discard
Loss of fair value fluctuation on assets
Financial cost 446,034,516 295,071,015
Loss on investment -269,721,894 -298,684,733
Decrease of deferred income tax assets -4,699,543
Increased of deferred income tax liabilities 1,054,662 -2,054,884
Decrease of inventories 200,039,599 -8,037,733
Decease of operating receivables -262,725,469 269,968,274
Increased of operating Payable 797,989,722 -108,338,748
Other
Net cash flows arising from operating activities 1,948,724,416 1,057,308,604
II. Significant investment and financing activities
-- --
that without cash flows:
Liability transfer to capital
Convertible corporate bond due within 1 year
Finance leased fixed assets
III. Net increase of cash and cash equivalents -- --
Ending balance of cash 2,772,677,837 2,981,800,221
Less: Beginning balance of cash 2,981,800,221 1,894,021,204
Add: Ending balance of cash
Less: Beginning balance of cash equivalents
Net increase of cash and cash equivalents 590,017,323 1,087,779,017
（2）Information on acquiring or disposing subsidiary company and other business unit at this period.
Unit：RMB
Supplement Information Amount of current period Amount of previous period
I. Acquisition of subsidiaries and businesses -- --
1．Price to acquire subsidiaries and other
businesses
2．Cash and cash equivalents paid to acquire
subsidiaries or businesses
Less：Cash and cash equivalents held by the
subsidiaries and other businesses
3．Net cash paid for acquiring of subsidiaries and
other businesses
4．Net asset of subsidiaries acquired
Current assets
Non-current assets
Current liabilities
Non-Current liabilities
II. Disposal of subsidiaries and bushiness -- --
1．Price to dispose subsidiaries and other business
2．Cash and cash equivalents received from
disposal of subsidiaries or businesses
Less：Cash and cash equivalents held by the
subsidiaries and other businesses
3．Net cash received for disposal of subsidiaries
and other businesses
4．Net asset of subsidiaries disposed
Current assets
Non-current assets
Current liabilities
Non-Current liabilities
（3）Composition of cash and cash equivalents
Unit：RMB
Items Amount of current period Amount of previous period
2,772,677,837 2,981,800,221
I. Cash
Of which: Cash in stock
Bank savings could be used at any time
Other monetary capital could be used at any
time
Usable money in Central Bank
Money saved in associated financial bodies
Money from associated financial bodies
II. Cash equivalents
Of which: bond investment which will due in three
months
III. Balance of cash and cash equivalents at the
2,772,677,837 2,182,660,514
period end
Statement on Supplementary information of cash flow statement
67.Notes to statement of change in owners’ equity
Please state the names and adjusted amount of the items of previous year, and retrospective adjustment on merger
of entities under common control.：
（VIII）Accounting treatment of asset securitization
1 On the principal of asset securitization transactions and its accounting, bankruptcy, isolation provisions
2. The Company does not have controlled over but in fact assume the risk situation of special-purpose body
Unit：RMB
Net profit of
Total asset at Total liability Net asset at Turnover of the
Name the current Notes
end of term at end of term end of term period
term
(IX). Related parties and related-party transactions
1. Parent company information of the enterprise
Unit：RMB
Vote
Share
right
ratio of
ratio of
parent
Parent Legal parent Ultimate
Related Enterpris Registrat Registere company Organiza
company represent Business company controlli
parties e type ion place d capital against tion code
name ative character against ng party
the
the
company
company
(%)
(%)
Power State-ow
plan
ned
t
Assets
oper
atin Regulato
Guangdo Controlli g,ele ry
ng ng State Guangzh ctric 21,500,0 Commiss 7304860
Pan Li 48.99% 48.99%
Yudean sharehol holding ou ity 00,000 ion of 2-2
Group der assets Guangdo
man ng
age People's
men
Governm
t,
ent
elect
ricit
y
generatio
n
Particulars about the parent company of the Company
Yudean Group Co., Ltd. Holding 48.99% shares of the Company and is the major shareholder
of the Company. State-owned Assets Regulatory Commission under the People's Government of
Guangdong Province holds 76% equity of Guangdong Yudean Group Co., Ltd. and is the actual
controller of the Company. According to the Business License of Incorporated Enterprise verified
and issued by Guangdong Administration for Industry and Commerce, Yudean Group is a wholly
Limited Liability Company. Its registered capital is RMB 20,000,000,000 and its registered address
is 33-36/F Yudean Plaza, No.2 Tianhe Road East , Guangzhou,Guangdong Province. Its legal
representative is Mr. Pan Li. Its is mainly engaged in management and sales of the electricity
investment，construction，operation management，electricity power(Thermal Power)，The the
industry of transportation，resources，environmental protection，new source of energy，electricity
investment; investment planning and consulting ; information consulting service; sales of
production materials.
2. Subsidiary companies information of the enterprise
Unit:RMB
Full name
Subsidiary Legal Share
of Enterprise Registrati Business Registered Vote right Organizati
company representa holding
subsidiary type on area character capital ratio (%) on code
type tive ratios(%)
company
Limitedlia
Zhanjiang Controllin
bility 2,875,440, 23210093
Electric g Zhanjiang Liu Qian Electric 76% 76%
Compan 000 -2
power Subsidiary
y
Yuejia Controllin Foreign
Lin 1,200,000, 61741361
Electric g investmen Meizhou Electric 58% 58%
Shizhuang 000 -4
Power Subsidiary t
Limitedlia
Yuejiang Controllin
bility Lin 770,000,0 70752208
Electric g Shaoguan Electric 65% 65%
Compan Shizhuang 00 -0
power Subsidiary
y
Limitedlia
Controllin
zhongyue bility 1,454,300, 74367331
g Zhanjiang Liu Qian Electric 90% 90%
energy Compan 000 -0
Subsidiary
y
Limitedlia
Zhenneng Controllin
bility Hu 999,530,6 76656459
Power g Maoming Electric 58.27% 58.27%
Compan Xiaolei 07 -8
Plant Subsidiary
y
Jinghai Limitedlia
Controllin
Power bility Li 2,919,272, 77307022
g Jieyang Electric 65% 65%
Generatio Compan Mingliang 000 -X
Subsidiary
n y
Zhanjiang Controllin Foreign
Lin 346,110,0 79295197
Wind g investmen Zhanjiang Electric 70% 70%
Shizhuang 00 -0
Power Subsidiary t
Limitedlia
Controllin
Oil Shale bility Lin 235,000,0 78488120
g Maoming Electric 83.66% 83.66%
power Compan Shizhuang 00 -4
Subsidiary
y
Guangdong
Yudean Limitedlia
Controllin
Anxin bility 20,000,00 66498489
g Dongguan Rao Sobo Electric 100% 100%
Electric Compan 0 -0
Subsidiary
Power y
Maintenance
Limitedlia
Humen Controllin
bility Lin 150,000,0 68056908
Power g Dongguan Electric 60% 60%
Compan Shizhuang 00 -0
plant Subsidiary
y
Guangdong
Limitedlia
Yudean Controllin
bility Luo 285,000,0 55168364
Power Bohe g Maoming Electric 100% 100%
Compan Zhiheng 00 -5
Repair Co., Subsidiary
y
Ltd.
Limitedlia
Controllin
Zhanjiang bility Shen 20,000,00 78942832
g Zhanjiang Electric 76% 76%
Yuheng Compan Mingde 0 -9
Subsidiary
y
Limitedlia
Xuwen Controllin
bility Lin 173,190,0 69473177
Wind g Zhanjiang Electric 70% 70%
Compan Shizhuang 00 -1
Power Subsidiary
y
3. Joint-venture and affiliated enterprises information of the company
Unit ：RMB
Assets amount Liability Net assets Business total
Invested unit Registration Legal Business Registered Share holding vote right Net benefit at Affiliation Organization
Enterprise type at end of amount at end amount at end income at this
name Place representative character capital ratio(%) ratio(%) this period relation code
period of period of period period
I.Joint
-- -- -- -- -- -- -- -- -- -- -- -- -- --
enterprise
II. Affiliated
-- -- -- -- -- -- -- -- -- -- -- -- -- --
enterprise
Thermalp
Guangqia Limited
Wen ower 1,030,292, 2,750,046, 1,518,198, 1,231,847, 694,199,6 79,393,49 70842633
n Electric Liability Shenzhen 40% 40%
Lianhe generatio 500 084 088 996 27 8 -0
Power Company
n
Thermalp
Huizhou Limited
Gao ower 963,000,0 2,937,153, 1,721,997, 1,215,155, 750,214,6 96,172,69 76380066
Natura Liability Shenzhen 32% 32%
Shiqiang generatio 00 122 298 824 47 0 -3
l gas Company
n
Thermalp
Limited
Wen ower 2,749,750, 10,975,58 8,116,415, 2,859,167, 2,923,781, 172,081,9 76061818
Red Bay Liability Shenzhen 25% 25%
Lianhe generatio 000 2,709 199 510 684 01 -8
Company
n
Limited
Fuel 630,000,0 3,006,430, 2,186,490, 819,940,3 12,859,95 73,903,45 19032603
Liability Shenzhen Zhu Dejun Coal 35% 35%
Company 00 579 186 93 0,475 6 5
Company
Binlangjia Limited Hydraulic 713,000,0 3,756,408, 3,093,273, 663,134,5 110,229,1 -70,596,4 75066253
Shenzhen Liu Yibin 29% 29%
ng Liability power 00 018 499 19 33 47 -X
Company generation
Limited
Shanxi 1,000,000, 1,989,357, 434,917,5 1,554,439, 168,740,7 79021637
Liability Shenzhen Liang Jian Coal 40% 40% 0
Enerty 000 452 14 938 94 4
Company
Limited
Yudean Yang 2,000,000, 15,104,45 12,848,19 2,256,260, 366,711,7 175,071,7 71226867
Liability Shenzhen Finance 25% 25%
Finance Xuanxing 000 0,750 0,573 177 63 42 -0
Company
West Limited Thermalp
Hong 847,400,0 8,848,368, 6,949,503, 1,898,865, 2,110,301, 42,194,68 75285691
Investmen Liability Shenzhen ower 26% 26%
Rongkun 00 683 296 387 463 9 -X
t Company generation
Limited
Yudean 2,465,800, 6,830,077, 4,247,264, 2,582,812, 878,198,9 77555547
Liability Shenzhen Zhu Dejun Shipping 35% 35% 3,997,964
Shipping 000 388 960 428 57 4
Company
Shibeisha Limited Thermalp
Li 231,700,0 517,326,4 278,084,6 239,241,8 39,627,09 76384872
n Wind Liability Shenzhen ower 30% 30% 4,037,966
Chengjun 00 31 29 02 2 0
power Company generation
Limited Hydraulic
Linchang Huang 226,600,0 532,715,6 323,300,7 209,414,8 -3,119,390 77048814
Liability Shenzhen power 49% 49% 7,272,786
Yuntou Ning 00 09 81 28 .52 -5
Company generation
Limited Thermalp
Weixin Yang 1,168,277, 6,643,420, 5,478,440, 1,164,980, 77859169
Liability Shenzhen ower 40% 40% 0 0
Yuntou Guowen 400 717 615 102 -X
Company generation
Shantou Limited Wind
194,190,0 532,441,7 265,346,7 267,095,0 47,882,01 18,358,57 78385384
Wind Liability Shenzhen Yang Qing power 25% 25%
00 95 52 43 5 7 2
Power Company generation
Jiangkeng Limited Li Hydraulic
22,839,07 26,393,37 24,965,35 61806551
Hydroelectri Liability Shenzhen Guanshen power 25% 25% 1,428,021 4,950,777 2,126,280
6 8 7 -9
c station Company g generation
Zhongxin Limited Hydraulic
Luo 15,150,00 29,372,50 20,277,13 70760320
keng Liability Shenzhen power 40% 40% 9,095,370 5,475,411 3,269,713
Shiheng 0 5 5 -0
Electric Company generation
4. Other Related parties information of the enterprise
Other Related parties name Relation of other Related parties Organization code
with the company
Guangdong Power Development Controlled by Yudean Group
190321111
Corporation
Yudean Information Technology Co., Ltd. Controlled by Yudean Group 69692475-3
Guangdong Yunfu Electric Co., Ltd. Controlled by Yudean Group 19577353-9
Guangdong Yudean Property Management Controlled by Yudean Group
Co.,Ltd. 73987209-3
Bioligy Power Controlled by Yudean Group 680565944
Yudean Porpoety Controlled by Yudean Group 74706406-1
Controlled by Yudean Group Hongkong Company,No
Chaokang Company
organization code
Maoming Thermal Controlled by Yudean Group 19492436-6
Shaoguan Power plant Controlled by Yudean Group 61744590-7
Gaoguan D Controlled by Yudean Group 61744707-2
Shajiao C Controlled by Yudean Group 74369834-X
Xinfengjiang Controlled by Yudean Group 751086546
Zhuhai Power Controlled by Yudean Group 70812907-X
Zhuhai Jinwan Controlled by Yudean Group 717859111
Yudean Environment Protection Controlled by Yudean Group 69643858-7
Jinhui Electric Controlled by Yudean Group 72785566-7
Shenzhen Tianxin Controlled by Yudean Group 788338241
Pinghai Power Controlled by Yudean Group 791172465
Statement on other related parties
5. Related Transactions
（1）The providing service/sells goods
Unit： RMB
Occurred current term Occurred in previous term
Pricing and Percenta Percenta
Subjects of the
decision making ge in ge in
Related parties
Amount similar Amount similar
related transactions process trades trades
（%） （%）
Fuel Company Fuel purchase Agreement price 4,848,929,886 90.08% 3,449,201,656 80.03%
Yudean Environment
Protection
Material purchase Agreement price 22,534,054 9.23% 24,853,415 16.38%
Acceptance of
Shaoguan Electric Agreement price 94,052,243 74.42% 195,512,319 86.09%
management services
Acceptance of
Maoming Thernal Agreement price 28,684,053 22.7% 29,457,555 12.97%
management services
Acceptance of tugboat
Yudean Shipping services
Agreement pri 6,700,000 100% 5,405,000 100%
Sales of goods and services
Unit：RMB
Occurred current term Occurred in previous term
Pricing and Percenta Percenta
Subjects of the
decision making ge in ge in
Related parties
Amount similar Amount similar
related transactions process trades trades
（%） （%）
Yudean Environment
Protection
Sale of Material Agreement price 12,417,302 28.24% 997,584 2.43%
Providing maintenance
Shajiao C services Agreement price 8,376,421 15.51% 10,672,100 26.5%
Providing maintenance
Zhuhai Power plant services Agreement price 1,581,197 2.93%
Providing maintenance
Zhuhai Jinwan services Agreement price 2,446,667 4.53%
Providing maintenance
Guangqian power services
Agreement pri 1,629,658 3.02% 1,629,658 4.05%
Providing maintenance
Bioligy Power services Agreement price 3,580,573 6.63% 2,416,443 6%
Providing maintenance
Bioligy Power services
Agreement priice 2,267,202 4.2%
（2）Related trusteeship or contracting
Related trusteeship or contracting in which the Company is the undertaker
Unit：RMB
Amount
Nature of Gains Influence
Name of Asset of the
Name of the asset from the of the
the situation asset to Terminati Pricing
the to be Start date deal in gains on
undertak of the be ng date basis
employer undertake report the
er undertaker undertak
n period Company
en
Related trusteeship or outsourcing in which the Company is the employer
Unit：RMB
Amount
Amount Influence
Name of Asset of the Nature of
Name of of of the
the situation asset to the asset Pricing
the Start date End date payment payment
Employe of the be to be basis
employer recogniz on the
r Employer Employe Employer
ed Company
r
Powe
Maoming Maoming 814,344,9 January 1, Agreemen 28,684,05
ThermaL Therma plant Good generation
49 2010 t price 3
equipment
Statement on the trusteeship and contracting
（3）Related leasing
The Company is the lender
Unit:RMB
Influence
Rental
Category Descriptio Amount of the
Name of Name of Starting Pricing recognize
of asset n of the of asset to Stop date rental on
the owner the tenant date basis d in the
for rent property be leased the
period
Company
The Company is the undertaker
Unit：RMB
Unit:RMB
Influence
Rental
Category Descriptio Amount of the
Name of Name of Starting Pricing recognize
of asset n of the of asset to Stop date rental on
the owner the tenant date basis d in the
for rent property be leased the
period
Company
Yudean The Property January 1, December Agreement
Good 1,793,292 price 1,793,292
Property Company Leasing 2012 31, 2012
Statement on related leasing
（4）Status of related party guarantee
Unit:RMB
The beneficiary Amount
Guarantor Start date Due date Completed or not
party guaranteed
Statement on related guarantees
（5）Related party funds
Unit：RMB
Amount of
Related parties Start date Expired on Remarks
demolition
Borrow in
In accordance with
the frame agreement
for financial services
for 2012 signed by
the Company and
Yudean Fanince 2,205,000,000 Yuedian Finance,
Yuedian Finance
promised to provide
credit line of not
more than RMB 14
billion in total to the
Group in 2012. In the
first half of 2012, the
Group borrowed
RMB 2,205,000,000
from Yuedian
Finance in total
according to the
actual fund demand.
Lend out
（6）The information of asset transfer, debt restructured of the related parties
Unit：RMB
Pricing Amount in current period Amount in last period
Content of
principle of
Related parties Type related Proporti Proporti
related Amount Amount
transaction on（%） on（%）
transactions
（7）Other related transactions
(a) Common expense allocation
The Company’s branches Shajiao A and Shajiao C agreed to allocate certain common
expenses according to agreed allocation basis. For the year January-June 2012, the
expense reimbursement received from Shajiao C amounted to approximately RMB
2,222,169 (January-June 2011: RMB1,554,83).
（b）Interest
January- June 2011 January –June 2012
Interest income from cash in Yudean 8,681,929 8,701,340
Finance
Wenxin Yuntou 8,990,867 8,076,520
West Investment 1,747,015 75,440
Linchang Yuntou 654,938 521,373
Shanxi Enerty 4,849,770 5,567,036
24,924,519 22,941,709
Percentage 74.70% 69.42%
The interest rate of cash in Yudean Finance is the same as the interest rate of cash in bank
for the same period.
（c）Percentage
January- June 2011 January –June 2012
Interest paid to Yudean for the entrust loan 13,585,129 10,097,383
Interest paid to Yudean Finance for - 13,842,235
Discount
Interest paid to Yudean Finance for 92,587,444 117,814,770
borrowing
106,172,573 141,754,388
Percentage 19.43% 20.81%
（d）Joint investment
As of June 30, 2012, the Group invested in the following subsidiaries and associates
jointly with Yudean:
Yudean Group
Attrbutable equity
interest owned by
yudean %
Yudean Finance 65%
Fuel Supply 65%
Shanxi Energy 60%
Guangqian Electric 60%
Shibeishan 40%
Red Bay 40%
Yudean Westm 35%
Yudean Shipping 45%
Huizhou Natural gas 35%
6. Account receivable and payable of related parties
The account receivable of related parties of the company
Unit ：RMB
Name Related parties Year-end balance Year-beginning balance
Account
Shajiao C 685,000 12,876,382
receivables
Account Guangqian
6,147,204 9,563,928
receivables Electric
Account Yudean Environment
Protection
376,529 8,114,310
receivables
Account
Zhuhai Jinwan 1,985,640 3,853,987
receivables
Account Huizhou Natural 4,595,832 3,352,133
receivables gas
Account
Bioligy Power 220,027 88,011
receivables
Account
Zhuhai Electric 740,000
receivables
Other receivables Yudean Westm 26,508,842
Other receivables Shanxi Energy 14,824,605 20,842,013
Yudean Environment
Other receivables Protection 3,214,032 5,853,102
Other receivables Yudean Group 5,210,000
Other receivables Linchang Yuntou 5,009,584 5,011,712
Other receivables Shajiao C 1,755,887 2,651,692
Yudean Property
Other receivables 597,764 536,768
Development
Other receivables Chaokang Company 6,051,925
Other receivables Yudean Poperty 195,188 180,320
Other receivables Guanqian Electric 20,000 35,000
Other receivables Pinghai Power 20,000
Advances to
Fuel Supply 863,387,321 250,772,991
suppliers
Advances to
Shaoguan Power 50,000,000
suppliers
Advances to
Shenzhen Tianxin 4,065,598
suppliers
Dividend Guangqian
12,032,000 96,079,553
Receivalbes Electric
Long-term
Wenxin Yuntou 260,000,000 260,000,000
Receivables
Long-term
Shanxi Enerty 153,200,000 153,200,000
Receivables
Long-term
Linchang Yuntou 10,580,000 10,580,000
Receivables
Account payable to related parties
Unit：RMB
Projects Related parties
Year-end balance Year-beginning balance
Bills payables Fuel Supply 631,520,000
Account payables Fuel Supply 1,845,288,835 1,758,725,434
Account payables Maoming Thermal 73,637,015 60,178,485
Yudean Environment
Account payables Protection 22,427,170 6,314,656
Account payables Xinfengjiang 75,000 737,790
Yudean Property
Account payables 611,794 608,247
Development
Account payables Jinhui Power 90,582 90,582
Other Payables Shaoguan Power 73,506,568 30,083,004
Yudean Environment
Other Payables Protection 1,084,284 8,004,511
Other Payables Shaoguan D 1,750,737 1,750,737
Other Payables Yudean Shipping 875,000 895,000
Yudean Information
Other Payables 611,984 550,000
Technology
Yudean Property
Other Payables 19,817
Development
Other Payables Guangqian Electric 5,399
Other Payables Yudean Property 597,764
Interest payables Yudean Finance 6,325,590 2,860,007
Interest payables Yudean Group 478,333
Dividend payable Shaoguan D 3,521,190 3,521,190
Dividend payable Chaokang Investment 3,300,000
(X). Share payment
1.Overall situation of share payment
Total of equity instruments issued by the
company in the report period
Total of equity instruments exercised in
the period
Total of equity instruments invalidated in
the period
Price range of share options issued to
outside and remained term of the contract
at end of period
Price range of other equity instruments
issued to outside and remained term of
the contract at end of period
Statement on share payment
2.Share payment settled in term of equity
Unit：RMB
Recognition of fair value of equity instrument at date of
grant
Recognition of best estimation on exercisable equity
instruments
Cause of material difference between estimation basis
of current period and previous period
Accumulated amount of share payment on equity basis
in capital reserves
Total of expenses recognized for share payment on
equity basis
Statement on share payment on equity basis
3.Share payment settled by cash
Unit：RMB
Recognition Of fair value of liabilities calculated upon
shares or other equity instruments which are undertaken
by the Company
Accumulative liabilities generated by share payment
settled by cash in the liabilities
Total expenses recognized on share payment settled by
cash
Statement on share payment settled by cash
4.Service paid by shares
Unit：RMB
Total of employees’ services paid by shares
Total of other services paid by shares
5.Revising and termination of share payment
(XI) Subsequent events
1. Liabilities formed from pending lawsuit and mediation and its financial impact
As of June 30,2012，The company has no liabilities formed from pending lawsuit and mediation.
2. For other units to provide debt guarantees, forming of contingent liabilities and the financial impact.
Other contingent liabilities and their influences：
(XII). Commitment events.
1.Importance commitment events
2. Information guaranteed at the former period.
The 2nd meeting of the seventh board of directors held on June 28, 2011 adopted the Proposal for
Increasing the Capital of Maoming Zhenneng Thermal Power Co., Ltd. According to the proposal, the
Company will increase the capital of Zhenneng Power Plant by RMB 263.7360 million at
shareholding ratio. The capital increased in 2011 is RMB 124.36 million. The Company and
Guangdong Electric Power Development Company accepted the share of additional capital abandoned
by Guangdong Yudeanlian Investment Development Co., Ltd. in respective proportion of capital
contribution. The newly increased amount of capital contribution is RMB 42.7084 million. The capital
increased in 2012 is RMB306.4444 million. The ratio of the Company's shareholding in Zhenneng
Power Plant rose from 56.39% at the beginning of the year to 58.27%.
The first meeting of the sixth board of directors of the Company by correspondence in 2010 held
on January 15, 2010 adopted the Proposal for Establishing a Wholly-owned Subsidiary for Maoming
Bohe Project. According to the proposal, the Company invested RMB 285 million to establish a
wholly-owned subsidiary for Bohe project. As of June 30, 2012, the Company invested RMB 285
million in Bohe Company.
The 3rd meeting of the sixth board of directors of the Company held on August 12, 2008 adopted
the Proposal for Investing in Lincang Dayakou Hydroelectric Power Station. According to the
proposal, the Company will participate in the investment in Dayakou hydroelectric power station
through increasing the capital of Lincang Yuntou Yuedian Hydroelectric Development Co., Ltd..
According to shareholding ratio, the Company shall increase the capital of Lincang Company by RMB
88.49 million. The company has provided additional capital of RMB 14.70 million to Lincang
Company.
(XIII). Post-balance-sheet events
1. Statement on material post-balance-sheet events
Unit： RMB
Influence on the financial
Reason for not able to
Items Contents position and business
estimate the influence
performance
2.Statement on profit distribution in post balance sheet period
Unit：RMB
Proposed profit or dividend
Approved and announced profit or dividend
3.Statement on other issues in post balance sheet period
There is no disclosure of the Post-balance-sheet of the Company.
(XIV). Other Important events
1. Non-monetary asset exchange
2. Liabilities recombination
3. Enterprise consolidation.
4. Leasing
5. Financial instruments issued outside and can be transferred to stock at end period.
6. Annuity Plan content and significant changes
The meeting examined and adopted the Proposal for Terminating the Investment in Mao
ming Oil Shale Mine and Power Joint Operation Project of The 9th meeting of the sevent
h board of directors of the Company on July 25, 2012. According to project plan, 2 gener
ating units (2X200MW) for circulating fluid bed and an oil shale mine with annual produ
ction capacity of 6 million tons of oil shale will be constructed. As of June 30, 2012, the r
egistered capital of Oil Shale Company was RMB 235 million. Five shareholders, Our co
mpany has invested about 197 million dollars, accounting for 83.66%
Since the start of this project, the land requisition for plant site has been completed
and the leveling of plant site has been basically completed for the power plant. The
supporting documents necessary for construction have been completed. The project has
satisfied the conditions for approval and commencement of construction. For the
supporting Jintang strip mine, various supporting documents necessary for applying for
mining right and reserve verification have been completed. The conditions for applying
for mining permit have been satisfied. In recent years, there have been more disputes over
the title of Jintang strip mine, which has not only caused serious difficulties for Oil Shale
Company to apply for mining right and carry out development and utilization of the
mining area but also brought great adverse influence on local economic and social
development and harmony and stabilization of local society. To solve the problem of
illegal exploitation of Jintang strip mine and ensure the environmental protection,
stabilization and safety of the mining area, the local government decided to close down
this mining area. Despite the efforts of involved parties, the local government is unable to
assist Oil Shale Company in obtaining the mining right for Jintang strip mine and other
oil shale mineral resources. As a direct result, it is impossible to continue the construction
preparation of the oil shale power generation project due to failure to obtain oil shale
mineral resources necessary for construction as expected. Therefore, the Company has
decided to terminate the investment in Maoming oil shale mine and power joint operation
project and will actively communicate and consult with the local government and
relevant parties in respect of subsequent liquidation and compensation concerning this
project and try to minimize possible loss.
According to the provisions of “Accounting Standard for Business Enterprises - Impairment of
Assets”, if there exists the impairment of assets, the company shall estimate the recoverable amounts,
and compare the amounts with the book value to determine the assets whether the impairment occurs
or not. But currently, the compensation of the initial investment of Oil Shale Company is under the
negotiation by People’s Government of Maoming City, and the recoverable value under the
construction is in the uncertain progress. So, the company hasn’t yet had the condition of the
preparation for the assets impairment, and the amount of assets impairment isn’t determined untill the
pending compensation amount is recognized.
(XV).Notes s of main items in financial reports of parent company
1.Account receivable
（1）Account receivable
Unit：RMB
Year-end balance Year-beginning balance
Book Balance Provision for bad Book Balance Provision for bad
Type debts debts
Prop
ortio Propor Propor Propor
Amount n% Amount tion% Amount tion% Amount tion%
Account receivable
with significant
specific amount that 100
295,707,611 0 348,032,141 100% 0
were provisioned had %
debt preparation
separately
Receivables provided bad debt provision in groups
Subtotal of group 0 0% 0 0 0% 0
Account receivable
with minor individual
0 0 0 0
amount but bad debt
provision is provided
Total 295,707,611 -- 0 -- 348,032,141 -- 0 --
Remarks on categories of receivable accounts：
The Year-end accounts receivable balances are all receivable from GPGC power sales fu
nds
Receivable accounts with large amount individually and bad debt provisions were provided
√Applicable □ Not applicable
Unit：RMB
Bad debt
Description of receivable accounts Book balance Proportion Reason
provision
Expected can be r
Receivable Electricity charge 295,707,611 0 0% ecovered
Total 295,707,611 0 -- --
Using age methods to provision for bad debts of account receivable in group：
□Applicable √not Applicable
Using percentage balance method of provision for bad debts of account receivable in group：
□Applicable √not Applicable
Using other methods to provision for bad debts of account receivable in group：
□Applicable √not Applicable
Receivable accounts with minor amount but on which bad debt provisions are provided individually at
end of period
□Applicable √not Applicable
（2）Switch back or regain of the account receivable in the reporting period
Unit：RMB
Bad debt provision
Description of the Reason to write Basis of original bad provided before Amount written back
receivable accounts back or retrieve debt provision writing back or or retrieved
retrieving
Total -- -- --
Receivable account with large amount, or minor amount but on which bad debt provisions are
provided individually at end of period：
Description of the
Book balance Amount of bad debt Providing rate（%） Reason
receivable accounts
Total -- --
Remarks on receivable accounts with minor single amount but with greater risks after combining with
accounts with similar risks:
（3）Receivable accounts actually written off in the report period
Unit：RMB
Property of the Occurred under
Date of written Amount written Reason of writing
Name receivable related
off off off
account relationship
Total -- -- -- --
Statement on writing off of receivable accounts：
（4）Particulars about the receivable accounts due from shareholders with 5% or over of the
Company’s shares in the report period
□Applicable√ Not applicable
（5）Natures or contents of receivable accounts with large amount
（6） The front 5 units’ information of the account receivable
Unit：RMB
Relation with the Portion in total other
Name Amount Ages
Company receivables (%)
GPGC Third party 295,707,611 Winth 1 year 100%
Total -- 295,707,611 -- 100%
（7）Account receivable from Related affiliated parties
Unit ：RMB
Unit name Relation with the company Amount Percentage of account
receivable
Total --
（8）Account receivable that is not accord with expiration confirmation condition
（9）Account receivables subject to asset securitization , needed to briefly describe the arrangements
related to transactions.
2.Other receivable
（1）Other receivable
Unit：RMB
Year-end balance Year-beginning
Provision for bad Provision for bad
Book balance Book balance
debts debts
Classification
Prop Prop Prop Prop
Amount ortio Amount ortio Amount ortio Amount ortio
n(%) n(%) n(%) n(%)
Other Receivables with
major individual amount 97.7 98.04
336,685,612 0 266,360,974 0
and bad debt provision % %
provided individually
Other Receivables provided bad debt provision in groups
Deposit group 0 0% 0 0 0% 0
1.96
Subtotal of group 7,917,248 2.3% 0 5,326,086 0
%
Other Account
receivable with minor 344,602,860 -- 0 -- 271,687,060 -- 0 --
individual amount but
bad debt provision is
provided
Total
Statement on Other receivable:
Other Receivable accounts with large amount individually and bad debt provisions were provided
√Applicable □not Applicable
Unit：RMB
Description of other
Book balance Bad debt provision Proportion Reason
receivable accounts
Principal and inter Expected can be re
est of the entrusted 325,762,689 0 0% covered
loan
Expected can be re
Factory A Port colliso
3,748,945 0 0% covered
n
Expected can be re
Guangdong Yudean
2,876,014 0 0% covered
Anxin
Expected can be re
Guangdong Yudean
1,755,887 0 0% covered
Group. Shajiao C
Expected can be re
Yudean Environment
Protection 1,342,077 0 0% covered
Total 336,685,612 0 -- --
Using age methods to provision for bad debts of other account receivable in group：
□Applicable √not Applicable
Using percentage balance method of provision for bad debts of account receivable in group：
□Applicable √not Applicable
Using other methods to provision for bad debts of account receivable in group：
□Applicable √not Applicable
Receivable accounts with minor amount but on which bad debt provisions are provided individually at
end of period
√Applicable □not Applicable
Unit：RMB
Provision
Name Book balance Bad debts Reason of provision
proportion%
Expected can be re
Yudean Property 597,764 0 0%
covered
Expected can be reco
Other 7,319,484 0 0%
vered
Total 7,917,248 0 --
（2）Switch back or regain of the other account receivable in the reporting period
Unit ：RMB
Bad debt provision
Description of the Other Reason to write Basis of original bad provided before Amount written back
receivable accounts back or retrieve debt provision writing back or or retrieved
retrieving
Total -- -- --
Other Receivable account with large amount, or minor amount but on which bad debt provisions are
provided individually at end of period：
Description of the
Book balance Amount of bad debt Providing rate（%） Reason
receivable accounts
Total -- --
Remarks on receivable accounts with minor single amount but with greater risks after combining with
accounts with similar risks:
（3）Other receivable accounts actually written off in the report period
Unit：RMB
Property of the
Date of written Amount written Reason of Occurred under
Name receivable
off off writing off related relationship
account
Total -- -- -- --
Statement on writing off of other receivable accounts：
（4）Particulars about the other receivable accounts due from shareholders with 5% or over of the
Company’s shares in the report period
□Applicable√ Not applicable
（5）Natures or contents of other receivable accounts with large amount
（6） The front 5 units’ information of other account receivable
Unit：RMB
Relation with the Portion in total other
Name Amount Ages
Company receivables (%)
Zhanjiang Zhongyue Subsidiary 200,000,000 Within 1 year 58.04%
Yuejiang Subsidiary 100,385,292 Within 1 year 29.13%
Shanxi Engrty Associate Company 20,343,890 Withn 1 year 5.9%
Linchang
Associate Company 5,033,507 Within 1 year 1.46%
Hydropower
Factory A Port colliso Third party 3,748,945 0-2 years 1.09%
n
Total -- 329,511,634 -- 95.62%
（7）Other Account receivable from Related affiliated parties
Unit：RMB
Unit name Relation with the company Amount Percentage of account
receivable
Zhongyue Subsidiary 200,000,000 58.04%
Yuejiang Subsidiary 100,385,292 29.13%
Shanxi Yudean Engrty Associate Company 20,343,890 5.9%
Linchang Associate Company 5,033,507 1.46%
Yudean Anxin Subsidiary 2,876,014 0.83%
Shajiao C Associate Company 1,755,887 0.52%
Yudean Environment Controlled by Yudean Group
1,342,077 0.39%
Protection
Yudean Property Controlled by Yudean Group 597,764 0.17%
Weixin Associate Company 462,139 0.13%
Yudean Property Controlled by Yudean Group
195,188 0.06%
Development
Total -- 332,991,758 96.63%
（8）Account receivable that is not accord with expiration confirmation condition
（9）Account receivables subject to asset securitization , needed to briefly describe the arrangements
related to transactions.
3. .Long –term stocks equity investment
Unit：RMB
Explanation
of
diffidence
Shareholdin between
Voting right
Initial g shareholdin
Accounting Original Ending proportion Current Cash
Name investment change proportion g Devalue
method balance Balance in the devalue bonus
cost in the proportion
investee
investee and voting
right
proportion
in investee
Total -- -- -- --
Statement on Long-term equity investment
4. Business income, Business cost
（1）Business income, Business cost
Unit：RMB
Items Amount of current period Amount of previous period
Income from Business
income
Other Business income
Business cost 1,387,282,791 1,468,983,247
Total
（2）Main business（Industry）
□Applicable√ Not applicable
（3）Main business（Production）
□Applicable√ Not applicable
（4）Main Business（Area）
□Applicable√ Not applicable
（5）Total income and the ratio of operating income from top five clients
Unit：RMB
Name Business Income Proportion(%)
GPGC 1,530,732,633 99.08%
Dongguan Humen Jinfan Industry Company 4,341,323 0.27%
Dongguan Taicheng Industry Co., Ltd. 1,794,904 0.12%
Yudean Environment Protection 1,593,362 0.1%
Dongguan Haiyue Industry Investment Co., Ltd. 1,482,274 0.1%
Total 1,539,944,496 99.67%
Statement on revenue
5. Investment income
（1）Income from investment
Unit：RMB
Items Amount of current period Amount of previous period
Income from long-term equity investment measured
210,054,196 291,927,620
by adopting the cost method
Income from long-term equity investment measured
234,407,050 267,642,210
by adopting the Equity method
Income from disposal of long-term equity
investment
hold the investment income which gained from the
transactional financial assets
Gain the investment income from the
held-to-maturity
investment
Hold the investment income during from
available-for-sale financial assets
Dispose the investment income from the
transactional
financial assets
Dispose the investment income from the
held-to-maturity
investment
Dispose the investment income from the
available-for-sale 6,393,225 4,402,150
financial assets
Other 25,158,715 15,615,373
Total 476,013,186 579,587,353
（2）Long term equity investment calculated to cost method：
Unit：RMB
Name Amount of current Amount of Change cause
period previous period
Guangdong Yudean Jinghai Power Decrease in assigned dividend in
117,193,433 186,961,586
Generate Co., Ltd. vestment unit
Decrease in assigned dividen
Zhanjiang Electric 78,179,513 86,241,034
d investment unit
Shenzhen Chuangxin Technology Increase in assigned dividend
13,781,250 11,025,000
Investement Company investment unit
Increase in assigned dividend
Guoyi Invite public bidding Co., Ltd. 900,000 0
investment unit
Zhanjiang Wind Power 0 7,700,000
Total 210,054,196 291,927,620 --
（3）Long term equity investment calculated via equity method
Unit ：RMB
Name Amount of current Amount of Change cause
period previous period
Gains from investment increased
Shanxi Yudean Engrty 67,496,318 26,686,964
Guangdong Yudean Finance 43,722,377 26,196,584 Gains from interest increased
Guangdong Red Bay 43,020,475 25,518,527 Power increased
Electricity, electricity prices
Guangqian Electric 31,757,399 91,765,597
decreased
Electricity, electricity prices
Huizhou Natural gas 30,775,261 54,462,148
decreased
Guangdong Electric Industry Fuel The coal-fired power plant p
25,866,209 22,742,574
Co.,Ltd. urchase volume increased
Yudean Western 4,730,706 -3,185,676
Huaneng Shantou Wind Pwer 4,589,644 6,048,592
Guangdong Yudean Shipping 1,399,287 15,500,092
Yangshan Zhongxinkeng 1,307,885
Shibeishan Wind Power 1,211,390 906,038
Yangshan Jiangkeng 531,570
Linchang Yuntou -1,528,501
Yunnan Baoshan Binlangjiang -20,472,970 1,000,770
Total 234,407,050 267,642,210 --
Statement on Investment income：
6. Supplement information of Consolidated Flow Statement
Unit：RMB
Items Amount of current Amount of previous
period period
1. Adjusting net profit to net cash flow in operating
-- --
activities:
Net profit 363,366,441 559,240,226
Add： Provision for impairment of assets
Fixed assets depreciation 78,651,076 85,347,868
Amortization of intangible assets 1,739,394 1,739,394
Amortization of long-term expenses to be amortize
The losses on the disposal of fixed assets, intangible assets
and other long-term assets
Loss on retirement of fixed assets
Loss on changes of Fair value
Financial expenses 196,319,231 157,262,297
Investment losses -476,013,186 -579,587,353
Decrease of deferred income tax asset
Increase of deferred income tax liability 1,054,662 -2,054,884
Decrease in inventory 24,956,909 -37,534,870
Decrease in operating receivable -40,606,065 42,216,953
Increase in operating payables 274,359,205 5,546,952
Other
Net cash flows from operating activities 423,827,667 232,176,583
2.Investing and financing activities that do not involve
-- --
cash receipts and payments
Conversion of debt into capital
Convertible bonds to be expired within one year
Fixed assets under financial lease
3.Net increase in cash and cash equivalents -- --
Cash at the end of the period 579,244,486 603,138,069
Less：Cash at the beginning of the period 417,749,940 659,395,980
Add: Cash equivalents at the end of the period
Less：Cash equivalents at the beginning of the period
Net increase in cash and cash equivalents 161,494,546 -56,257,911
7. Reversal purchase of the assess under assessed value, liabilities information
Unit：RMB
Description of the asset or liabilities booked at
Appraised value Original book value
evaluated
Assets
Liabilities
（16）Supplement information
1. Return on net assets and earnings per share
Unit：RMB
Earnings per share（RMB）
Return on net assets .
Profit of the report period Basic earnings per Diluted gains per
Weighted（%）
share share
Net profit attributable to the Common
2.82% 0.1 0.1
stock shareholders of Company.
Net profit attributable to the Common
stock shareholders of Company after 2.42% 0.09 0.09
deducting of non-recurring gain/loss.
2. The explanation of abnormal circumstance and reasons of items in major accounting statement.
The report items of abnormal amounts or abnormal changes during the comparison period (such as,
above 30% change fluctuation between two data periods, above 5% of the assets sum or above 10% of
the profits sum of the Group’ statements date), the report items not designated by Accounting Standard,
and the report items that names can’ t reflect the nature or contents.
Items of Line June 30, 2012 December 31, Changed Increased(Decreased)%
Balance sheet 2011
1 943,794,646 321,693,491 622,101,155 193.38%
Prepayments
Dividend 2 12,.32,000 96,079,553 -84,047,553 -87,48%
receivable
Other 3 148,609,606 97,964,732 50,644,870 51.70%
receivable
Engineering 4 641,479,735 1,023,682,015 -382,202,280 -37.34%
material
Fixed asset 5 46,019,975 4,164,516 41,855,459 1005.05%
disposal
Bill payable 6 691,160,000 343,083,604 348,076,396 101.46%
Advance 7 9,810,640 2,315,543 7,495,097 323.69%
receipts
Interest 8 71,526,444 122,666,756 -51,140,312 -41.69%
payable
Dividend 9 180,064,470 15,552,964 164,511,506 1057.75%
payable
Differed 10 3,674,600 2,619,939 1,054,662 40.26%
income tax
liability
Items of Profit
statement
Gross 11 7,826,479,881 6,470,761,685 1,355,718,,196 20.95%
operating
income
Business 12 6,978,829,000 5,769,299,387 1,209,529,613 20.96%
income
Other business 13 19,143,389 27,948,721 -8,805,332 -31.51%
cost
Business tax 14 25,656,761 36,936,079 -11,279,318 -30.54%
and surcharge
Sales expense 15 714,612 325,957 388,655 119.24%
Financial 16 446,034,516 295,071,015 150,963,501 51.16%
expenses
Non-business 17 47,922,349 6,819,739 41,102,610 602.70%
income
Non business 18
expenses
Minority 19 45,041,150 6,035,558 39,005,592 646.26%
shareholders’
equity
Other 20 3,163,984 -6,164,653 9,328,637 -151.32%
comprehensive
income
1.Payment in advance: The prepayment made to Fuel Company increased by big margin over the
beginning of year mainly because Jinghai Power Generation and Zhanjiang Power settled the security
deposit for coal purchase for 2011 in the same year and paid such security deposit for the current year
in 2012.
2.Dividends receivable: Receipt of dividends of RMB 105 million for 2011 from Guangqian Power
Company.
3.Other receivables: Zhanjiang Zhongyue Company increased the security deposit for banker's
acceptance bills by RMB 60 million.
4.Engineering materials: The engineering material requisition of Jinghai Company decreased in the
current year.
5.Disposal of fixed assets: The abandoned assets of Zhanjiang Power Company were transferred in but
not be disposed of yet.
6.Bills payable: Zhanjiang Zhongyue Company started to pay for fuels with commercial bills of
exchange from 2012. The end-of-period balance of bills payable was RMB 260 million. Partial
payment for coal purchase between Zhenneng Company and Fuel Company was settled with
acceptance bills. The bills were accepted by Yuedian Finance. The end-of-period balance of bills
payable increased by about 63 million.
7.Advance receipts: The payment for pulverized fuel ash received by Zhanjiang Power Company from
Environmental Protection Company in advance increased.
8.Interest payable: payment of corporate bond interest and handling charges to Securities Registration
Company for the period from March 2011 to March 2012.
9.Dividends payable: Provision of RMB 168 million was made for dividends payable according to the
dividend distribution plan adopted at 2011 annual shareholders' general meeting. Dividends were not
paid yet.
10.Deferred income tax liabilities: The change in fair value of financial assets available for sale
caused the increase of temporary difference of tax payable so that the ending balance of deferred
income tax liabilities somewhat increased over the beginning of year.
11. Gross operating income: on-grid electricity volume increased by 2.672 billion kwh and 18.42%
year on year (Zhanjiang Zhongyue Company was not put into operation in the same period of the
previous year. In this year, on-grid electricity volume increased by 3.464 billion kwh). Income
increased by about RMB 1.18 billion. The change in average on-grid electricity rate increased the
income by RMB 154 million.
12. Cost of main operation: Fuel cost increased by 22.77%. Direct labor decreased by 8.44% year on
year. Manufacturing expenses increased by 21.29% year on year.
13. Other operational cost: In the first half year, the site management cost of pulverized fuel ash of
Sha A Company decreased year on year.
14. Business tax and surtax: The business tax and surtax of Zhenneng Company, Zhanjiang Power
Company and Yuejiang Company decreased.
15. Selling expenses: Zhanjiang Zhongyue Company started operation in the current year so that
selling expenses increased year on year.
16. Financial expenses: Financial expenses increased by 51.16% year on year ( 7.13% if the loan
interests were not transferred into expenses after the start of operation of units of Zhanjiang Zhongyue
Company).
17. Non-operating income: Income from disposal of Yuejia Company's assets.
18. Non-operating expenses: The fixed assets scrapped in the current year decreased so that
non-operating expenses decreased.
19. Minority gains and losses/total amount of composite income for minority shareholders: Yuejia
Company that has big proportion of minority shareholders decreased loss remarkably. The net profit
of Jinghai Company increased by big margin year on year.
20. Other composite income: The change in fair value of financial assets available for sale caused the
change in other composite income.
IX. Documents for reference
Documents for reference
1.Text of Semi-ammual report carrying the signature of Chairman of the Board;
2.Financial statements bearing the seal and signature of legal representative, financial controller and the person
in charge of the accounting organ;
3.All original copies of official documents and notices, which were disclosed in Securities Times, China
Secunities and Hong Kong Commercial Daily (Both English and Chinese version);
4.The article of association of the Company;
5. English version of the semi-annual report.
The documents mentioned above are kept in office, and are ready for reference at any time (except
public holidays, Saturday and Sunday).
Chairman of the board of directors: Pan Li
Date of submitting approved by the Board：2012-8-21
Revsing record
Date of correction or supplementary Contents of correction or
Version No
disclosure supplementary disclosure
