广东电力发展股份有限公司 2013 半年度报告全文
广东电力发展股份有限公司
GUANGDONG ELECTRIC POWER DEVELOPMENT CO., LTD.
The Semi-annual Report 2013
August 2013
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广东电力发展股份有限公司 2013 半年度报告全文
I. Important Notice, Table of Contents and Definitions
The Board of Directors , Supervisory Committee ,Directors, Supervisors and Senior Executives of the
Company hereby guarantees that there are no misstatement, misleading representation or important omissions in
this report and shall assume joint and several liability for the authenticity, accuracy and completeness of the
contents hereof. English translation for reference only. Should there be any inconsistency between the Chinese
and English versions, the Chinese version shall prevail.
Board chairman Pan Li authorized Vice Board chairman Liu Qian ,Director Li Zhuoxian authorized Director
Gao Shiqiang, Director Kong Huitian authorized Director Hong Rongkun, Director Li Mingliang authorized
Director General Manager Lin Shizhuang, Director Zhang Xueqiu and Independent director Zhu Weiping all
authorized Independent Director Song Xianzhong, Independent Director Wang Jun authorized Independent
Director Zhang Hua, Independent Director Liu Tao authorized Independent Director Feng Xiaoming attend the
meeting and exercise voting right on their behalf.
The Company Will not distribute cash dividend or bonus shares, neither capitalizing of common reserves for
the report period.
Mr.Pan Li, The Company leader, Mr. Li Xiaoqing, Chief financial officer and the Mr.Qin Jingdong, the
person in charge of the accounting department (the person in charge of the accounting )hereby confirm the
authenticity and completeness of the financial report enclosed in this Semi-annual report.
This semi-annual report involves the forecasting description such as the future plans, and does not constitute
the actual commitments of the company to the investors. The investors should pay attention to the investment
risks.
the English translation is for reference only. Should there be any inconsistency between the Chinese and English versions, the
Chinese version shall prevail.
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广东电力发展股份有限公司 2013 半年度报告全文
Table of Contents
2013 semi-Annual Report
I..Important Notice, Table of contents and Definitions
II. Basic Information of the Company
III. Summary of Accounting Highlights and Business Highlights
IV. Report of the Board of Directors
V. Important Events
VI. Change of share capital and shareholding of Principal Shareholders
VII. Information about Directors, Supervisors and Senior Executives
VIII. Financial Report
IX. Documents available for inspection
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广东电力发展股份有限公司 2013 半年度报告全文
Definition
Terms to be defined Refers to Definition
Yudean Group Refers to Guangdong Yudean Group Co., Ltd.
Zhanjiang Company Refers to Zhanjiang Electric Power Co., Ltd.
Yuejia Company Refers to Guangdong Yuejia Electric Power Co., Ltd.
Yuejiang Company Refers to Guangdong Shaoguan Yuejiang Power Generation Co., Ltd.
Zhenneng Company Refers to Maoming Zhenneng Thermal Power Co., Ltd.
Jinghai Company Refers to Guangdong Yudean Jinghai Power Co., Ltd.
Zhanjiang Zhanjiang Wind Power Company Refers to Guangdong Yudean Zhanjiang Wind Power Co., Ltd.
Zhongyue Compamy Refers to Zhanjiang Zhongyue Energy Co., Ltd.
Bohe Company Refers to Guangdong Yudean Bohe Coal & Electricity Co., Ltd
Guangqian Company Refers to Shenzhen Guangqian Electric Power Co., Ltd.
Huihou Natural Gas Company Refers to Guangdong Huizhou Natural Gas Power Co., Ltd.
Shibeishan Wind Power Company Refers to Guangdong Shibeishan Wind Power Development Co., ltd.
Red Bay Company Refers to Guangdong Red Bay Power Co., Ltd.
Pinghai Power Plant Refers to Guangdong Hluizhou Pinghai Power Co., Ltd.
Humen Power Company Refers to Guangdong Yudean Humen Power Co., Ltd.
Anxin Electric Inspection & Installation
Refers to Guangdong Yudean Anxin Electric Inspection & Installation Co., Ltd
Company
Guohua Taishan Refers to Guangdong Guohua Yudean Taishan Power Generation Co., Ltd.
Yudean Industry Fuel Company Refers to Guangdong Power Industry Fuel Co., Ltd.
Huadu Natural Gas Company Refers to Guangdong Huadu Natural GasT Thermal Power Co., Ltd.
Dapu Company Refers to Guangdong Dapu Power Generation Co., Ltd.
Dianbai Wind Power Company Refers to Guangdong Yudean Wind Power Co., Ltd.
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广东电力发展股份有限公司 2013 半年度报告全文
II. Basic Information of the Company
（1）Company information
Stock abbreviation Yue Dian Li A, Yue Dian Li B Stock code： 000539、200539
Stock exchange for
Shenzhen Stock Exchange
listing：
Name in Chinese 广东电力发展股份有限公司
Abbreviation of Registered
Company Name in Chinese(If 粤电力
any)
English name (If any) GUANGDONG ELECTRIC POWER DEVELOPMENT CO.,LTD
English abbreviation (If
GED
any)
Legal Representative Pan Li
2. Contact person and contact manner
Board secretary Securities affairs Representative
Name Liu Wei Zhang Shaomin
26/F, South Tower, Yudean Plaza, No.2 26/F, South Tower, Yudean Plaza, No.2
Contact address Tianhe Road East, Guangzhou,Guangdong Tianhe Road East, Guangzhou,Guangdong
Province Province
Tel (020)87570276 (020)87570251
Fax (020)85138084 (020)85138084
E-mail liuw@ged.com.cn zhangsm@ged.com.cn
3. Other
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or
not
□ Applicable √ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period,
found nore details in annual report 2012.
2. In formation disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable √ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation
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广东电力发展股份有限公司 2013 半年度报告全文
place for semi-annual report have no change in reporting period, found more details in annual report 2012.
3.Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration nmber for enterprise legal license number of taxation registration and
organization code have no change in reporting period, found more details in annual report 2012.
4.Other relevant information
Whether other relevant information has changed in reporting \period or not
□ Applicable √ Not applicable
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广东电力发展股份有限公司 2013 半年度报告全文
III. Summary of Accounting Highlights and Business Highlights
I.Summary of accounting /Financial Data
May the Company make retroactive adjustment or restatement of the accounting data of the previous years due to
change of the accounting policy and correction of accounting errors.
√Yes □ No
Increase/decrease in
Same period of last year
Current period this report y-0-y(%)
Before Adjustment After adjustment After adjustment
Operating Gross income（RMB） 14,547,027,472.00 7,826,479,881.00 14,497,823,581.00 0.34%
Net profit attributable to the
shareholders of the listed company 1,357,484,280.00 292,168,221.00 577,436,462.00 135.09%
（RMB）
Net profit after deducting of
non-recurring gain/loss attributable
1,346,200,677.00 250,524,005.00 244,643,660.00 450.27%
to the shareholders of listed
company（RMB）
Cash flow generated by business
5,323,290,861.00 1,948,724,416.00 3,939,884,455.00 35.11%
operation, net（RMB）
Basic earning per
0.31 0.11 0.15 106.67%
share(RMB/Share)
Diluted gains per
0.31 0.11 0.15 106.67%
share(RMB/Share)(RMB/Share)
Net asset earning ratio（%） 8.02% 2.83% 4.24% 3.78%
Increase/decrease in
this report-end over
End of last period
End of current period that of last
period-end (%)
Before Adjustment After adjustment After adjustment
Gross assets（RMB） 67,875,048,962.00 40,496,085,419.00 65,708,659,470.00 3.3%
Shareholders’ equity attributable to
shareholders of the listed company 17,274,732,546.00 10,333,482,304.00 16,255,322,328.00 6.27%
（RMB）
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广东电力发展股份有限公司 2013 半年度报告全文
Note: As the Company completed significant asset reorganization on December 31, 2012 and the enterprises under
the same control merged, the Company restated the accounting data and financial indicators for the first half of
2012. If the influence of reorganization on the Company's earnings is eliminated, the net profit for the
shareholders of the Company for the first half of 2013 increased by 364.62% year on year.
（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.
Unit:RMB
Net profit attributable to the shareholders Net Assets attributable to the
of the listed company shareholders of the listed company
Amount in the Amount in the End of the reporting Beginning of the
reporting period previous period period reporting period
According to CAS 1,357,484,280.00 577,436,462.00 17,274,732,546.00 16,255,322,328.00
Items and amount adjusted according to IAS
Land use right amortization -972,000.00 -373,600.00 0.00 972,000.00
The difference arising from
recognition of goodwill after
0.00 0.00 64,623,000.00 64,623,000.00
merger of enterprises under
the same control
Difference arising from
recognition of land use value -315,000.00 -315,000.00 21,065,000.00 21,380,000.00
after enterprise merger
Influence on minority interests 110,559.00 348,000.00 4,512,559.00 4,402,000.00
Accouding to IAS 1,356,307,839.00 573,733,462.00 17,364,105.00 16,346,699,328.00
3.Note to the Difference in the Accounting Data based on the Accounting Standards of CAS and IAS.
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.
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广东电力发展股份有限公司 2013 半年度报告全文
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
Unit:RMB
Items Amount Notes
Non-current asset disposal gain/loss(including the write-off part
-151,445.00
for which assets impairment provision is made)
Govemment subsidy recognized in currentgain and loss(excluding
those closely related to the Company’s business and granted 8,477,089.00
under the state’s policies)
Gain/loss investment of Commission 9,914,014.00
Net amount of non-operating income and expense except the
12,527,075.00
aforesaid items
For the first half of the report
year, Zhanjiang Company made
provision of RMB 10 million for
Provision for aasets impairment -17,500,000.00
impairment of inventories and
RMB 7.5 million for impairment
of fixed assets.
Less：Influenced amount of income tax 60,832.00
Influenced amount of minor shareholders’ equity（After tax ） 1,922,298.00
Total 11,283,603.00 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory
Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public-Extraordinary Gains and
Losses, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item.
□ Applicable√ Not applicable
IV. Report of the Board of Directors
I. General
In the report period, the growth rate of national economy lowered and the electric power demand of
Guangdong Province was lower than expected. Meanwhile, under the adverse influence of increased transmission
of power in west area, the operation environment for power generation enterprises was still unfavorable. The
electricity consumption of the Province is 222.364 billion kwh, which increased by 2.87% year on year. The
growth rate decreased by 4.35% year on year. The quantity of power purchased from west regions is 49.647
billion kwh, which increased by 31.76% year on year. The market share of generating units in the Province shrank
by big margin. The power output of the Province was 178.874 billion kwh, which decreased by 3.43% year on
year.
In the report period, due to completion of significant asset reorganization, consolidated statements
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广东电力发展股份有限公司 2013 半年度报告全文
additionally covered 5 subsidiaries. According to the provisions of accounting standards, retroactive adjustment
was made to the amount for the same period of the previous year when consolidated statements were prepared.
Benefiting from the sharp year-on-year lowering of coal price and overall return obtained after the completion of
significant asset reorganization, the Company earned operating income of RMB 14.55 billion, which increased by
85.88% year on year. （After retroactive adjustment, the year-on-year growth rate is 0.34%). The Company's
operating profit and the net profit for its shareholders were respectively RMB 2.39 billion and RMB 1.36 billion,
which respectively increased by 554.64 % and 364.62 % year on year. （After retroactive adjustment, the
year-on-year growth rate is 120.13 % and135.09 % respectively).
In the report period, the Company continued to carry out construction and development of new projects. #3
and #4 units (2×1000MW) of Huilai Power Plant constructed and operated by Guangdong Yuedian Jinghai Power
Generation Co., Ltd., of which the Company holds 65% equity, were put into power generation in January. The
initial-stage work is being carried out for the projects including #7 unit of Maoming Power Plant (1×600MW),
Maoming Bohe coal-fired power wharf project (2×1000MW), phase-II cogeneration project ofHuizhou LNG
Power Plant (3×460MW), and projects of "Constructing New Big Power Units While Closing Small Ones" in
Shaoguan and Mei County. The Company will continue to improve its market competitiveness and
comprehensive strength through the expansion of key business scale and make efforts to develop into a large
specialized listed power company with reasonable energy structure and apparent regional advantages.
To meet the fund demand of investment projects and optimize its capital structure, the Company completed
the registration and issue of short-term financing notes of RMB 600 million and the issue of corporate bonds of
RMB 1.2 billion in the report period so as to give full play to its financing function and realize fast growth.
II. Analsis on principal Business
General
The Company is a big generating company mainly engaged in the investment, construction, operation and
management of electric power projects and production and sales of electric power.
Y-o-y changes of main financial data
Unit：RMB
Y-o-y increase/decrease
Current period Same period of last year Reasons for changes
（%）
Operration revenue 14,547,027,472.00 14,497,823,581.00 0.34%
Operation cost 11,025,868,327.00 12,182,528,843.00 -9.49%
1,753,357.00 956,644.00 Strengthened marketing
Sales expenses 83.28%
of electric power.
Administrative expenses 401,370,835.00 381,031,604.00 5.34%
Financial cost 983,330,573.00 950,536,536.00 3.45%
493,910,564.00 263,926,877.00 The increase of earnings
Income tax expense 87.14% caused the increase of
income tax expenses.
5,323,290,861.00 3,939,884,455.00 The fall of fuel price
Net cash flow arising
35.11% caused the decrease of
from operation activities
cash paid for purchasing
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广东电力发展股份有限公司 2013 半年度报告全文
fuel.
-351,913,463.00 -1,307,700,413.00 Increase of cash inflows
from investing activities
and decrease of cash paid
Net cash flow arising
for purchase or
from investment -74.09%
construction of fixed
activities
assets, intangible assets
and other long-term
assets.
Net cash flow arising -2,183,559,164.00 -2,567,018,278.00
-14.94%
from financing activities
2,787,818,234.00 65,165,764.00 Mainly due to increase of
Net increase of cash cash flows from
4,178.04%
andcash equivalent operating activities of the
Company.
Major changes on profit composition or profit resources in reporting period
□ Applicable √ Not applicable
No major changes on profit composition or profit resources occurred in reporting period.
The future development and planning extended to reporting period that published in disclosure documents as
prospectus, private placing memorandum and recapitalize statement.
□ Applicable √ Not applicable
No future development and planning extended to peporting period that published in disclosure documents as
prospectus, private placing memorandum and recapitalize statement.
Review on the previous business plan and its progress during reporting period.
(1) In the report period, the Company completed power output of 33.947 billion kwh in terms of consolidated
statements, which decreased by 0.21% year on year. The actual on-grid electricity volume was 3.1921 billion kwh,
which decreased by 0.3% year on year and accounted for 43.23% of the planned on-grid electricity volume for the
year. The Company failed to fulfill the plan for electricity volume mainly because the growth of market demand
was slower than expected and due to the negative influence of additional transmission of power from west regions
on the power generation of units in the Province.
(2) In the report period, the Company actually completed external investment of RMB 530 million, which
accounts for 26.4% of the planned amount of external investment for the year. The investment completion ratio
was low mainly because governmental department approval was not obtained for some projects for which
initial-work was carried out and no large-scale investment was made.
III. Constitution of main business
Unit：RMB
Increase Increase
Increase /decrease
Gross Profit /decrease of /decrease of
Operating Income Operating cost of Gross profit
Ratio(%) operating income operating cost
ratio（％）
（％） （％）
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广东电力发展股份有限公司 2013 半年度报告全文
In terms of business line
Sales Electric 14,459,447,415.0 10,991,429,768.0 23.98% 0.44% -9.62% 8.46%
Power, 0 0
heat supply
And Provision
services
In terms of product
Sales Electric 14,409,858,983.0 10,949,388,014.0 24.01% 0.48% -9.6% 8.47%
Power 0 0
heat supply 36,352,088.00 30,989,583.00 14.75% -9.83% -7.68% -1.99%
Provision 13,236,344.00 11,052,171.00 16.5% -9.78% -31.49% 26.46%
services
Area
Guangdong 14,459,447,415.0 10,991,429,768.0 23.98% 0.44% -9.62% 8.46%
0 0
IV. Core competitive-ness analsis
As the one of the largest independent power-generation business in southem China as well as the largest
electricpower listed company within Guangdong Province, the Operating range of our company includes the
investment, construction and operation management of electric power items, in addition, the production and sales
of electric power together with the technology consulting and service in electric power business is also included
in our operating range. The company sticks to the onerating guideline of “ mainly focus on electuic power and
develop diversely” , and concentrates on electric power, which is the major business while present a diversified
development of power source structure, Besides the coal burning power generation projects, the company also
has clean energy projects like LNG power generation, wind power generation and water power generation. With
advanced technology and management, the company can provide safe and environmental-friendly energy
support for the development of economy and society. Currently, the company has realized mass production of
major electric power business, the pluralism of energy structure and the normalization of business management.
Also, it has become a high-quality electric power listed company with clear main business, outstanding scale
benefit, solid financial sources and trrong ability of sustainable development.
V. Analysis on investment status
1. External Equity investment
（1）External investment
External investment
Investment amount in 2013（RMB） Investment Amount in 2012（RMB） Change rate（%）
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广东电力发展股份有限公司 2013 半年度报告全文
530,000,000.00 271,650,000.00 95.1%
Particulars of investees
Companies Principal business Proportion in the investees’ equity（%）
Coal dock construction, power plant
Guangdong Yudean Bohe Coal-fired
construction, technical consultation and 100%
Power Co., Ltd
services for power plant projects
Construction, production and operation of
power plants and heating power pipeline
networks, production, sales and
Guangdong Yudean Huadu Natural Gas
comprehensive utilization of electric power 65%
Thermal Power Co., Ltd.
and its auxiliary products, technical
consultation, technical service and training
concerning electric power projects, etc.
Power plant construction, production and
operation, production and sales of electric
Guangdong Yudean Dapu Power
power and auxiliary products, project 100%
Generation Co., Ltd
contracting, technical consultation and
technical services in power sector.
Power plant construction, production and
operation, production and sales of electric
Guangdong Yudean Dianbai Wind power
power and auxiliary products, project 100%
Co., Ltd.
contracting, technical consultation and
technical services in power sector.
Offshore wind power project
investment,construction and operation;
Production and sales of integrated energy
sources such as electricity , heat, cold;
South Offshore wind power Union Island power, samart grid, new energy
10%
Development Co., Ltd. and other fields of scientific research,
technology development, equipment
development, production and sales,
engineering contracting, technology
cooperation, etc.
（2）Holding of the equity in financial enterprises
Number of Shareholdi Number of Shareholdi Book
Gain/.loss
Initial shares held ng shares held ng balance at
of the
Company Company Investment at the proportion at the end proportion the end of Accountin Sauce of
reporting
Name type cost beginning at the of the at the end the g items the shares
period
(RMB) of the beginning reporting of the reporting
(RMB)
reporting of the period(sha reporting period
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广东电力发展股份有限公司 2013 半年度报告全文
period reporting res) period(%) (RMB)
(shares) period (%)
Financial
Shen 15,890,628 42,252,000 7,980,000. assets
Other 8,400,000 0.32% 8,400,000 0.32% Initiated
Energy A .00 .00 00 available
for sale
Financial
SHENER 235,837,98 211,022,55 34,429,995 assets
Other 55,532,250 1.28% 55,532,250 1.28% Transferee
GY 7.50 0.00 .00 available
for sale
251,728,61 253,274,55 42,409,995
Total 63,932,250 -- 63,932,250 -- -- --
5.50 0.00 .00
2.Entrusted Financing , investment in derivative products and entrusted loan
（1）Entrusted loan
Unit:RMB’0000
Is it a
Interest Guarantor or Application of the
Prospective borrower related Amount
rate collateral loan by the borrow
party
Supplement
Weixin Yuntou Yudean Zhaxi Energy Co., Ltd. No 9,500 8.3% No
current capital
Total -- 9,500 -- -- --
3.Use of raised capital
（1）Overview
Unit：RMB’0000
Total amount of the raised capital 120,000
Total raised capital invested in the report period 120,000
Total accumulative raised capital invested 120,000
Amount of adjusted raised capital 0
Accumulative amount of adjusted raised capital 0
Proportion of accumulative adjusted raised capital（%） 0%
Notes to use of raised capital
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广东电力发展股份有限公司 2013 半年度报告全文
In the report period, the Company raised proceeds of RMB 1.2 billion by issuing corporate bonds (with a term of 7 years and
annual coupon rate of 4.95%). The raised proceeds were used to repay short-term loans of the Company and supplement its
working capital as promised.
4. Analysis on principal subsidiaries and Mutual Shareholding Companies
Particulars about the principal subsidiaries and Mutual shareholding companies
Unit：RMB
Leading Total Operating
Company Company Sectors Registered Net assets Tumover Net Profit
products assets(RMB profit
Name type engaged in capital (RMB) (RMB) (RMB)
and services ) (RMB)
Guangdong Power 2,919,272,0 13,557,948, 3,426,398,5 3,144,970,1 536,482,261 403,993,853
Yudean generation 00 383 43 45
Jinghai Electric and power
Subsidiary
Power Power station
Generation construction
Co., Ltd. .
Guangdong Power 1,370,000,0 8,134,835,9 2,119,003,6 2,214,158,8 691,065,277 518,311,781
Huizhou generation 00 16 64 86
Pinghai Electric and power
Subsidiary
Power Power station
Generation construction
Co., Ltd. .
Power 2,875,440,0 4,524,550,8 3,979,635,1 1,320,927,8 276,548,350 203,909,113
ZhanjiangEl generation 00 35 23 89
ectric Electric and power
Subsidiary
Power Co., Power station
Ltd. construction
.
Power 2,749,750,0 11,041,909, 3,029,465,0 2,189,764,5 209,440,327 156,648,032
Guangdong
generation 00 367 19 14
Red Bay
Electric and power
Power Subsidiary
Power station
Generation
construction
Co., Ltd.
.
Power 1,454,300,0 5,938,472,7 1,320,580,3 1,276,507,0 148,850,725 112,086,193
Zhanjiang generation 00 47 03 38
Zhongyue Electric and power
Subsidiary
Energy Power station
Co., Ltd. construction
.
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广东电力发展股份有限公司 2013 半年度报告全文
Power 1,030,292,5 2,507,884,9 1,233,006,2 656,215,661 36,227,530 30,401,924
Shenzhen
generation 00 39 94
Guangqian
Electric and power
Electric Subsidiary
Power station
Power Co.,
construction
Ltd.
.
Power 1,019,535,5 3,663,505,7 1,045,692,1 564,837,672 36,308,942 26,930,292
Maoming
generation 00 93 64
Zhenneng
Electric and power
Thermal Subsidiary
Power station
Power Co.,
construction
Ltd
.
Guangdong Wind Power 346,110,000 971,321,877 380,328,518 60,676,062 17,345,863 16,706,343
Yudean generation
Zhanjiang Electric and power
Subsidiary
Wind Power Power station
Generation construction
Co., Ltd. .
Power 963,000,000 2,628,481,7 1,278,617,0 582,527,627 9,468,191 16,159,354
Guangdong
generation 13 34
Huizhou
Electric and power
natural Gas Subsidiary
Power station
Power Co.,
construction
Ltd.
.
Power 1,200,000,0 827,908,430 611,666,019 303,514,610 3,939,990 5,561,990
Guangdong
generation 00
Yuejia
Electric and power
Electric Subsidiary
Power station
Power Co.,
construction
Ltd.
.
Guangdong Power 770,000,000 3,757,005,1 269,236,342 696,142,841 2,673,935 4,643,935
Shaoguan generation 58
Yuejiang Electric and power
Subsidiary
Generate Power station
electricity construction
Co., Ltd. .
Guangdong 20,000,000 53,306,575 43,157,429 44,871,229 2,810,142 2,106,108
Power
Yudean
generation
Anxin Electric
Subsidiary and
Maintenanc Power
Maintenanc
e&
e
installation
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广东电力发展股份有限公司 2013 半年度报告全文
Co., Ltd.
Guangdong Power 120,000,000 119,660,285 119,660,285 0 -339,715 -339,715
Yudean generation
Huadu Electric and power
Subsidiary
natural Gas Power station
Power Co., construction
Ltd. .
Guangdong Power 150,000,000 149,129,184 144,226,651 0 -416,202 -416,561
Yudean generation
Humen Electric and power
Subsidiary
Power Power station
Generation construction
Co., Ltd. .
Guangdong 231,700,000 486,978,197 241,366,217 34,044,496 -1,860,488 -2,724,470
Yudean Wind Power
Shibeishan generation
Wind Electric and power
Subsidiary
Power Power station
Developm construction
ent Co., .
Ltd.
Guangdong Coal dock 485,000,000 502,053,467 453,074,194 0 -3,310,569 -3,310,569
Yudean construction
Bohe Coal Electric and power
Subsidiary
& Power station
Electricity construction
Co., Ltd. .
Guangdong Power 300,000,000 512,383,172 300,000,000 0 0 0
Yudean generation
Dapu Electric and power
Subsidiary
Power Power station
Generation construction
Co., Ltd .
Guangdong Wind Power 10,000,000 10,000,000 10,000,000 0 0 0
Yudean generation
Dianbai Electric and power
Subsidiary
Wind Power station
Power Co., construction
Ltd. .
Guangdong Power 2,700,000,0 15,365,880, 4,937,259,3 5,309,711,6 1,390,206,2 1,043,087,3
Sharing Electric
Guohua generation 00 389 96 21 41 20
Company Power
Yudean and power
17
广东电力发展股份有限公司 2013 半年度报告全文
Taishan station
Power construction
Generation .
Co., Ltd.
5. Major projects using non-raised capital
Unit：RMB’0000
Accumulation of
Amount invested Investment progress Turnover of the
Projects Planned investment actual input at end of
this report term of the project project
period
GuangdongYudean
Bohe Coal & 222,957 20,000 48,500
Electricity Co., Ltd.
Total 222,957 20,000 48,500 -- --
VI. Prediction of business performance for Jan-Sept 2013.
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the
same period of last year, and statement of causations.
□ Applicable √ Not Applicable
VII. Profit distribution carried out in the report period
Execution or adjustment of profit distribution, especially cash dividend, and capitalizing of reserves in the report period.
□ Applicable √ Not Applicable
The Company's profit distribution plan for 2012 was examined and adopted by its 2012 annual shareholders' general meeting on
May 21, 2013. The Company published Announcement of Interest Distribution for 2012 on designated media on June 26, 2013. The
stock right registration date is July 2, 2012 (July 5 for B shares). The ex-dividend date is July 3, 2013. Cash dividends were
distributed on July 3 (for A shares) and July 5 (for B shares).
VIII. Statement of such activities as reception, research, communication, interview in the
reporting period
Way of Discussion topics and
Reception time Reception place Types of visitors Visitors received
reception provision of materials
The Company’s current
production of operation
Office of the Onsite
February 5, 2013 Organiation Guosen Secutities conditions and the situation
Company investigation
of the construction and
development projects
18
广东电力发展股份有限公司 2013 半年度报告全文
The Company’s current
production of operation
Office of the Onsite
February 21, 2013 Organiation Jiashi Founds conditions and the situation
Company investigation
of the construction and
development projects
The Company’s current
production of operation
Office of the Onsite South Fund Joint
February 22, 2013 Organiation conditions and the situation
Company investigation research
of the construction and
development projects
The Company’s current
production of operation
Office of the Onsite
February 27, 2013 Organiation Xingye Securities conditions and the situation
Company investigation
of the construction and
development projects
The Company’s current
production of operation
Office of the Onsite
February 27, 2013 Organiation Boshi Funds conditions and the situation
Company investigation
of the construction and
development projects
19
广东电力发展股份有限公司 2013 半年度报告全文
V. 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. There was no difference between the actual conditions of corporate governance
and the requirements of the Company Law and relevant regulations of CSRC.
II. Material lawsuits
□ Applicable √ Not applicable
Not Material lawsuits and arbitrations occurred in this period.
III. Media queries
□ Applicable √ Not applicable
Not Media queries raised in the report period.
IV. Material related transactions
1. Related transactions related to daily operation
In January –June 2013,Daily related transactions were carried out after examination and approval by 2012
annual shareholders’general meeting. Refer to (5) related transactions of IX. Relationship between related parties
and the transactions between them of the Financial report of this report for details.
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.
20
广东电力发展股份有限公司 2013 半年度报告全文
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. Other important related transactions
(1) The Company increased the capital of Guangdong Yudean Zhanjiang Wind Power Generation Co., Ltd., one
of its controlled subsidiaries together with Chaokang Investment Co., Ltd., the wholly-owned subsidiary of the
controlling shareholder Guangdong Yuedian Group Co., Ltd. The proposal concerning the establishment of
Guangdong Yuedian Leizhou Wind Power Generation Co., Ltd. by Zhanjiang Wind Power Company was
implemented after examination and approval at the first meeting of the seventh board of directors by
correspondence in 2013.
(2) The proposal concerning the application of Zhanjiang Zhongyue Energy Co., Ltd. and Maoming Zhenneng
Thermal Power Co., Ltd., two controlled subsidiaries of the Company, to related parties for loans of RMB 300
million was implemented after examination and approval at the third meeting of the seventh board of directors by
correspondence in 2013.
(3) The proposal concerning the acquisition of capacity quota of shutdown units of related parties by Guangdong
Yudean Bohe Coal-fired Power Co., Ltd., a wholly-owned subsidiary of the Company, was implemented after
examination and approval at the third meeting of the seventh board of directors by correspondence in 2013.
Relevant inquiry with the internet website for disclosing provisional report on material related transactions
Date of disclosing provisional Description of the website for
Description of provisional announcement
announcement disclosing provisional announcements
Related transaction Announcement of Resolutions of
First Meeting of the Seventh Board of Directors by January 10, 2013 http;//www.cninfo.com.cn
Correspondence in 2013
Announcement of the Related Transactions March 8, 2013 http;//www.cninfo.com.cn
Related transaction Announcement of Resolutions of
Third Meeting of the Seventh Board of Directors by March 27, 2013 http;//www.cninfo.com.cn
Correspondence in 2013
V. Important contracts and implementation
1. Guarantees
Unit：RMB’0000
External Guarantee (Exclude controlled subsidiaries)
Relevant Guarante
Date of
disclosure Complete e
happening Actual
Name of the date/No. of Amount of Guarantee Guarantee implemen for
(Date of mount of
Company the Guarantee type term tation associate
signing guarantee
guaranteed or not d
agreement)
amount parties
21
广东电力发展股份有限公司 2013 半年度报告全文
(Yes or
no)
Lincang
YuntouYudean Guaranteeing
June 22, December 25,
Hydroelectricity 3,430 2,401 of joint 15 years No No
2006 2006
Development Co., liabilities.
Ltd.
Lincang
YuntouYudean Guaranteeing
June 22,
Hydroelectricity 1,372 July 29, 2008 823 of joint 12 years No No
2006
Development Co., liabilities.
Ltd.
Yunnan Baoshan
Binlangjiang Guaranteeing
May 24 November 30,
Hydroelectricity 2,900 2,900 of joint 14 years No No
2007 2007
Development Co., liabilities.
Ltd.
Yunnan Baoshan
Binlangjiang Guaranteeing
May 24, November 30,
Hydroelectricity 1,305 1,305 of joint 11 years No No
2007 2007
Development Co., liabilities.
Ltd.
Yunnan Baoshan
Binlangjiang Guaranteeing
May 24, November 30,
Hydroelectricity 1,450 1,450 of joint 8 years No No
2007 2007
Development Co., liabilities.
Ltd.
Yunnan Baoshan
Binlangjiang Guaranteeing
May 24, December 19,
Hydroelectricity 4,350 4,350 of joint 17 years No No
2007 2007
Development Co., liabilities.
Ltd.
Yunnan Baoshan
Binlangjiang Guaranteeing
December December 25,
Hydroelectricity 4,350 4,350 of joint 15 years No No
19, 2007 2007
Development Co., liabilities.
Ltd.
Yunnan Baoshan
Binlangjiang Guaranteeing
December
Hydroelectricity 12,000 March 18, 2008 12,000 of joint 20 years No No
19, 2007
Development Co., liabilities.
Ltd.
22
广东电力发展股份有限公司 2013 半年度报告全文
Yunnan Baoshan
Binlangjiang Guaranteeing
August 22, October 31,
Hydroelectricity 5,800 5,800 of joint 17 years No No
2008 2008
Development Co., liabilities.
Ltd.
云 Yunnan Baoshan
Binlangjiang Guaranteeing
November November 14,
Hydroelectricity 7,250 7,250 of joint 12 years No No
12, 2008 2008
Development Co., liabilities.
Ltd.
Yunnan Baoshan
Binlangjiang Guaranteeing
May 27,
Hydroelectricity 17,400 May 27, 2009 7,250 of joint 14 years No No
2009
Development Co., liabilities.
Ltd.
Yunnan Baoshan
Binlangjiang Guaranteeing
May 27,
Hydroelectricity 11,600 June 22, 2009 9,367 of joint 20 years No No
2009
Development Co., liabilities.
Ltd.
Weixin Yuntou Guaranteeing
August 29, September 22,
Yudean Zhaxi 20,000 20,000 of joint 7 years No No
2009 2009
Energy Co., Ltd. liabilities.
Yunnan Baoshan
Binlangjiang Guaranteeing
May 27,
Hydroelectricity 7,250 June 23, 2010 7,250 of joint 5 years No No
2010
Development Co., liabilities.
Ltd.
Yunnan Baoshan
Binlangjiang Guaranteeing
September December 16,
Hydroelectricity 14,500 14,500 of joint 10 years No No
10, 2010 2010
Development Co., liabilities.
Ltd.
Termination
Weixin Yuntou Guaranteeing
March 8, after two
Yudean Zhaxi 93,680 March 27, 2012 33,480 of joint No No
2012 years'
Energy Co., Ltd. liabilities.
operation
Lincang
YuntouYudean Guaranteeing
November November 28,
Hydroelectricity 35,280 12,250 of joint 20 years No No
11, 2011 2012
Development Co., liabilities.
Ltd.
23
广东电力发展股份有限公司 2013 半年度报告全文
Termination
Weixin Yuntou Guaranteeing
March 8, after two
Yudean Zhaxi 93,680 April 11, 2013 19,400 of joint No No
2012 years'
Energy Co., Ltd. liabilities.
operation
Total amount of approved Total actually amount of
external guarantee in the report 0 external guarantee in the 9,000
period(A1) report period(A2)
Total amount of approved Total actually amount of
external guarantee at the end of 243,917 external guarantee at the end 165,783
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)
Guangdong Yudean Guaranteeing
April 29, October 9,
Zhanjiang Wind 15,700 13,200 of joint 20 years No No
2009 2010
Power Co., Ltd. liabilities.
Guangdong
Guaranteeing
Shaoguan Yuejiang June 29,
32,500 July 28, 2011 26,000 of joint 7 years No No
Generate electricity 2011
liabilities.
Co., Ltd.
Guangdong
Guaranteeing
Shaoguan Yuejiang August 25, December 6,
19,500 19,500 of joint 5 years No No
Generate electricity 2012 2012
liabilities.
Co., Ltd.
Total of guarantee for subsidiaries Total of actual guarantee for
16,900 -78,075
approved in the period(B1) subsidiaries in the period (B2)
Total of guarantee for subsidiaries Total of actual guarantee for
67,700 58,700
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
16,900 -69,075
period(A1+B1) the period(A2+B2
Total of guarantee approved at the Total of actual guarantee at
311,617 224,483
period-end(A3+B3) the period-end（A4+B4）
The proportion of the total amount guarantee in the net assets of
12.99%
the company(that is A4+B4)
Including：
Amount of guarantee for shareholders, actual controller and its 0
24
广东电力发展股份有限公司 2013 半年度报告全文
associated parties(C)
The debts guarantee amount provided for the
Guaranteed parties whose assets-liability ratio exceed 196,152
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
196,152
guarantees(C+D+E)
Description of the guarantee with complex method
VI. The commitments of the Company and its shareholders holding over 5% of the Company’s total shares in the
report year of extending to the report year from previous year.
Time of Peiod of
Commitm
Commitment Contents making commitme Fulfillment
ent maker
commitment nt
Commitment on share
reform
Commitment in the
acquisition report or the
report on equity changes
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
Guangdon
procedures of examination and approval, status of
Commitment made upon g Yudean November Under
profit making, provisions of cooperation agreement 5 years
the assets replacement Group 3, 2011 fulfillment
and use of land, except Yue Dian Li and the power
Co., Ltd.
generation assets controlled by it. According to the
status of solution of the above-mentioned problems,
Yuedian Group will gradually inject the assets
qualified for listing into Yue Dian Li through assets
merger and acquisition or reorganization in the next 5
years and finally realize the overall listing of its
power generation assets in China.
③ During the injection of power generation assets
25
广东电力发展股份有限公司 2013 半年度报告全文
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.
④Yudean Group will continue to fulfill all
commitments of supporting the development of Yue
Dian Li that were made by it before
Commitments made upon
issuance
Other commitments made
to minority shareholders
Executed timely or not? Yes
VII. Engagement/Disengagement of CPAs
Whether the intrim Report was audited or not
□ Yes √ No
VIII.Remarks on other material issues
1.The Company issued corporate bonds of RMB 2 billion with coupon rate of 5.5% on March 10, 2008.
Construction Bank of China Co., Ltd. authorized its Guangdong Branch to provide full-amount, unconditional and
irrevocable guarantee of joint and several liabilities. The corporate bonds were listed for trading at Shenzhen Stock
Exchange on March 27, 2008. Stock code: 112001; Stock abbreviation: 08 Yudean Bond. Term: 7 years. Put
provision is attached. March 3, 2015 is the trading termination day (subject to the announcement of the
Company).
In the report period, the Company newly issued corporate bonds of RMB 1.2 billion with coupon rate of 4.95%.
The corporate bonds were listed for trading at Shenzhen Stock Exchange on May 24, 2013. Stock code: 112162;
Stock abbreviation: 12 Yudean Bond. The term of bonds is 7 years and put provision is attached. March 18, 2020
is the trading termination day (subject to the announcement of the Company).
Quantity of bonds held by the top ten bond shareholders of the Company
Bond Name of shareholder Quantity of
abbreviation bonds
and code
08 Yudean Taiping Life insurance Co., Ltd－Universal－Group 2,450,000
（112001） insurance Universal
China Life Insurance Co., Ltd. 2,388,140
Xinhua Life Insurance Co., Ltd.－ Universal - Satisfying 2,200,000
Money Management-018L-WN001 Shen
Zhongying Life insurance Co., Ltd. 2,114,775
26
广东电力发展股份有限公司 2013 半年度报告全文
Postal Savings Bank of China 2,000,000
China Post Finance Co., Ltd. 1,336,678
Taikang Life Insurance Co., Ltd.－ Dividend distribution 1,000,000
－ Group Dividend Distribution -019L-FH001 Shen
Taikang Life Insurance Co., Ltd.－ Universal－ 999,800
Individual Insurance Universal
Zhongyi Life Insurance Co., Ltd.－ Annuity product of 800,000
China Petroleum - Stock Account
CPIC 500,000
12Yudean CCB 3,600,000
（112162） China Life Insurance Co., Ltd. 2,400,000
China Merchants bank 2,000,000
China Pingan Life insturance Co., Ltd.－Dividend 1,400,000
distribution－Individual insurance dividend
China Investment management －Bank of China－Bank 1,200,000
of China
China Pingan Life insturance Co., Ltd.－Universal－ 1,000,000
Individual insurance universal
CITIC Securities 393,110
Wang Bin 1,000
Xue Hong 1,000
No. 1 Enterprise Annuity Aggregation Program for ICBC 900
Satisfying Endowment Insurance
2. Notes to information disclosure of other important matters
No Event Date of Index of
disclosure information
disclosure
1 Announcement of establishment of Guangdong Yudean Leizhou January China
Wind Power Generation Co., Ltd. 10,2013 Securities
2 The announcement on external investment for carrying out January Daily,
initial-stage work for establishing Huadu Natural Gas & Combined 30,2013 Securities
Heat-Power-Cooling Supply Project Company Times ,Hong
kong
3 Announcement of completion of the issue of short-term financing January 30,
Commercial
notes of the first installment in 2013 2013
Daily
4 Announcement of Issue of Corporate Bonds for 2012 March 14, (offshore
2013 english and
5 Announcement of establishing Guangdong Yudean Dianbai Wind March 27, http//.www.c
Power Co., Ltd. by investment 2013 ninfo.com.
6 Announcement of investing in phase-II cogeneration project of April 26, Cn.
Huizhou LNG Power Plant 2013
27
广东电力发展股份有限公司 2013 半年度报告全文
VI. Change of share capital and shareholding of Principal Shareholders
(1) Changes in share capital
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 1,720,739, 1,720,739
39.33% 39.33%
subscription 907 ,907
2. State-owned legal 1,715,872, 1,715,872
39.22% 39.22%
person shares 525 ,525
3.Other domestic shares 4,863,685 0.11% 4,863,685 0.11%
Of which：Domestic legal
4,620,370 0.11% 4,620,370 0.11%
person shares
Domestic natural person
243,315 0.01% 243,315 0.01%
shares
5. Executive shares 3,697 0% 3,697 0%
I. Shares with 2,654,496, 2,654,496
60.67% 60.67%
unconditional subscription 748 ,748
1,989,156, 1,989,156
1.Common shares in RMB 45.46% 45.46%
748 ,748
2.Foreign shares in 665,340,0 665,340,0
15.21% 15.21%
domestic market 00 00
4,375,236, 4,375,236
III. Total of capital shares 100% 100%
655 ,655
Reasons for share changed
□Applicable√Not applicable
Approval of Change of Shares
□Applicable√Not applicable
Ownership transfer of share changes
□Applicable√Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common
shareholders of Company in latest year and period
□Applicable√Not applicable
Other information necessary to disclose for the company or need to disclosed under requirement from security regulators
28
广东电力发展股份有限公司 2013 半年度报告全文
□Applicable√Not applicable
Explanation on changes in aspect of total shares, shareholders structures as well as structure of assets and liability of the Company
□Applicable√Not applicable
II. Number of shares and shares held
Unit：Shares
Total shareholder at period-end 119,701
Shareholders with over 5% shares held
Number os share
Nuture of Proportion of Number of Changes in Amount of Amount of
pledged/frozen
Shareholders shareholde shares held shares held at reporting restricted un-restricted
State of Amoun
r （%） period -end period shares held shares held
share t
State-own
Guangdong Yudean
ed legal 67.39% 2,948,297,867 0 1,715,872,525 1,232,425,342
Group Co., Ltd.
person
Guangdong Guangfa State-own
Electric Power ed legal 2.33% 101,777,185 0 0 101,777,185
Investment Co., Ltd. person
Guangdong Electric State-own
Power Development ed legal 1.8% 78,639,451 0 0 78,639,451
Corporation person
Domestic
China Construction non
Bank－Penghua Value State-
Advantage Stock-linked owne 0.74% 32,242,039 15,257,668 0 32,242,039
Security Investment d
Fund Legal
person
Domestic
China People’s Life
non
Insurance Co., Ltd.－
State-
Dividend Distribution－
owne 0.67% 29,396,791 -1,758,177 0 29,396,791
Individual dividend
d
distribution-005L-FH00
Legal
2 shen
person
GUOTAI JUNAN Overseas
SECURITIES(HONGK legal 0.46% 20,146,756 3,471,654 0 20,146,756
ONG) LIMITED person
Overseas
GOLDEN CHINA
legal 0.39% 17,169,316 1,000,000 0 17,169,316
MASTER FUND
person
29
广东电力发展股份有限公司 2013 半年度报告全文
Domestic
Lei Guoquan Natural 0.37% 16,128,612 16,128,612 0 16,128,612
person
BBH A/C VANGUARD
Overseas
EMERGING
legal 0.32% 14,149,537 7,960,159 0 14,149,537
MARKETS STOCK
person
INDEX FUND
Overseas
NORGES BANK legal 0.3% 12,958,132 12,958,132 0 12,958,132
person
Strategy investors or general legal
person becomes top 10 shareholders None
due to rights issued (if applicable)
Explanation on associated Guangdong Electric Power Development Co., Ltd. the Third of the top 10 shareholders, is a
relationship among the aforesaid subsidiary of Yudean Group, Which is the No.3 shareholder; its is unknown whether
shareholders relationship exists between other shareholders.
Shareholding of top 10 shareholders of unrestricted shares
Quantity of unrestricted shares held at the end of the Share type
Name of the shareholder
reporting period Share type Quantity
RMB Common
Guangdong Yudean Group Co., Ltd. 1,232,425,342
shares
Guangdong Guangfa Electric Power RMB Common
101,777,185
Investment Co., Ltd. shares
Guangdong Electric Power RMB Common
78,639,451
Development Corporation shares
China Construction Bank－Penghua
RMB Common
Value Advantage Stock-linked 32,242,039
shares
Security Investment Fund
China People’s Life insurance
Co.,Ltd.－Dividend Distribution－ RMB Common
29,396,791
Individual shares
Dividends-005L-FH002Shen
Foreign shares
GUOTAI JUNAN
placed in
SECURITIES(HONGKONG) 20,146,756
domestic
LIMITED
exchange
Foreign shares
placed in
GOLDEN CHINA MASTER FUND 17,169,316
domestic
exchange
30
广东电力发展股份有限公司 2013 半年度报告全文
RMB Common
Lei Guoquan 16,128,612
shares
Foreign shares
BBH A/C VANGUARD
placed in
EMERGING MARKETS STOCK 14,149,537
domestic
INDEX FUND
exchange
Foreign shares
placed in
NORGES BANK 12,958,132
domestic
exchange
Explanation on associated
relationship or consistent action
among the top 10 shareholders of Guangdong Electric Power Development Co., Ltd. the Third of the top 10 shareholders, is a
non-restricted negotiable shares and subsidiary of Yudean Group, Which is the No.3 shareholder; its is unknown whether
that between the top 10 shareholders relationship exists between other shareholders.
of non-restricted negotiable shares
and top 10 shareholders
Explanation on shareholders
participating in the margin trading None
business(if any )(see note 4)
Did any shareholder of the Company carry out an agreed buy-back in the reorting period?
□ Yes √ No
III. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
□ Applicable √ Not Applicable
Change of the actual controller in the reporting period
□ Applicable √ Not Applicable
31
广东电力发展股份有限公司 2013 半年度报告全文
VII. Information about Directors, Supervisors and Senior Executives
I. Change in shares held by directors, supervisors and senior executives
□ Applicable √ Not Applicable
Shareholdings of directors, supervisors and senior management staff did not change in the reporting period. For details, see the 2012
annual report.
32
广东电力发展股份有限公司 2013 半年度报告全文
VIII. Financial Report
1. Audit report
Has this semi-annual report been audited?
□ Yes √ No
The semi-annual financial report has not been audited.
II. Financial statements
Currency unit for the statements in the notes to these financial statements:RMB
1. Consolidated balance sheet
Prepared by：Guangdong Electric Power Development Co., Ltd.
Unit ：RMB
Items Year-end balance Year-beginning balance
Current asset：
Monetary fund 5,661,716,771.00 2,870,764,537.00
Settlement provision
Outgoing call loan
Trading financial assets
Bill receivable
Account receivable 3,183,775,508.00 3,059,549,427.00
Prepayments 1,357,169,513.00 1,109,012,578.00
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Interest receivable 2,979,424.00 1,818,495.00
Dividend receivable 52,366,200.00
Other account receivable 281,120,281.00 710,718,239.00
Repurchasing of financial assets
Inventories 1,959,319,749.00 1,839,022,991.00
33
广东电力发展股份有限公司 2013 半年度报告全文
Non-current asset due in 1 year
Other current asset 1,363,504,073.00 1,571,152,356.00
Total of current assets 13,861,951,519.00 11,162,038,623.00
Non-current assets：
Loans and payment on other’s behalf
disbursed
Disposable financial asset 253,274,550.00 295,684,545.00
Expired investment in possess
Long-term receivable 103,898,949.00 360,202,625.00
Long term share equity investment 6,274,089,810.00 5,998,133,180.00
Property investment 11,156,829.00 11,474,629.00
Fixed assets 40,497,294,904.00 38,449,069,665.00
Construction in progress 4,586,169,165.00 7,300,925,262.00
Engineering material 300,948,106.00 303,125,786.00
Fixed asset disposal 83,976,826.00 1,462,082.00
Production physical assets
Gas & petrol
Intangible assets 1,175,300,778.00 1,193,080,413.00
R & D petrol
Goodwill
Long-germ expenses to be amortized
Differed income tax asset 50,080,294.00 76,814,134.00
Other non-current asset 676,907,232.00 556,648,526.00
Total of non-current assets 54,013,097,443.00 54,546,620,847.00
Total of assets 67,875,048,962.00 65,708,659,470.00
Current liabilities
Short-term loans 10,756,268,375.00 13,573,100,000.00
Loan from Central Bank
Deposit received and hold for others
Call loan received
Trade off financial liabilities
Bill payable 1,997,303,196.00 1,308,493,869.00
Account payable 3,700,003,866.00 3,233,698,785.00
Advance payment 5,411,690.00 1,142,996.00
34
广东电力发展股份有限公司 2013 半年度报告全文
Selling of repurchased financial
assets
Fees and commissions receivable
Employees’ wage payable 245,749,078.00 186,520,319.00
Tax payable 525,795,526.00 550,331,980.00
Interest payable 244,252,188.00 143,696,116.00
Dividend payable 114,489,632.00 12,488,428.00
Other account payable 3,510,197,738.00 3,456,801,202.00
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Non-current liability due in 1 year 1,949,288,355.00 1,850,200,316.00
Other current liability 1,313,418,889.00
Total of current liability 24,362,178,533.00 24,316,474,011.00
Non-current liabilities：
Long-term loan 14,670,188,380.00 14,786,327,736.00
Bond payable 3,188,453,075.00 1,994,144,734.00
Long-term payable 2,250,277,696.00 2,515,664,982.00
Special payable 15,008,161.00 16,904,604.00
Expected liabilities
Differed income tax liability 9,262,365.00 2,057,101.00
Other non-current liabilities 98,072,701.00 102,329,774.00
Differed income 20,231,262,378.00 19,417,428,931.00
Total of liability 44,593,440,911.00 43,733,902,942.00
Owners’ equity
Share capital 4,375,236,655.00 4,375,236,655.00
Capital reserves 4,993,481,560.00 5,025,289,056.00
Less：Shares in stock
Special reserves
Surplus reserves 4,203,571,277.00 3,955,568,618.00
Common risk provision
Undistributed profit 3,702,443,054.00 2,899,227,999.00
Different of foreign currency
translation
35
广东电力发展股份有限公司 2013 半年度报告全文
Total of owner’s equity belong to the
17,274,732,546.00 16,255,322,328.00
parent company
Minority shareholders’ equity 6,006,875,505.00 5,719,434,200.00
Total of owners’ equity 23,281,608,051.00 21,974,756,528.00
Total of liabilities and owners’ equity 67,875,048,962.00 65,708,659,470.00
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
Prepared by：Guangdong Electric Power Development Co., Ltd.
Unit：RMB
Items Year-end balance Year-beginning balance
Current asset：
Monetary fund 1,102,960,809.00 373,626,540.00
Trading financial assets
Bill receivable
Account receivable 302,358,189.00 269,908,526.00
Prepayments 221,285,912.00 222,709,377.00
Interest receivable 661,407.00 1,282,187.00
Dividend receivable 250,822,326.00 9,155,096.00
Other account receivable 131,236,804.00 571,884,980.00
Inventories 168,362,267.00 142,126,173.00
Non-current asset due in 1 year
Other current asset 86,670,258.00 99,887,231.00
Total of current assets 2,264,357,972.00 1,690,580,110.00
Non-current assets：
Disposable financial asset 253,274,550.00 295,684,545.00
Expired investment in possess
Long-term receivable 258,780,000.00
Long term share equity investment 19,539,173,637.00 18,675,217,008.00
Property investment 11,156,829.00 11,474,629.00
36
广东电力发展股份有限公司 2013 半年度报告全文
Fixed assets 1,166,070,865.00 1,111,673,900.00
Construction in progress 72,651,614.00 128,218,795.00
Engineering material
Fixed asset disposal 19,542,844.00
Production physical assets
Gas & petrol
Intangible assets 104,446,429.00 104,363,622.00
R & D petrol
Goodwill
Long-germ expenses to be amortized
Differed income tax asset 8,545,398.00
Other non-current asset 102,000,000.00
Total of non-current assets 21,174,862,166.00 20,687,412,499.00
Total of assets 23,439,220,138.00 22,377,992,609.00
Current liabilities
Short-term loans 1,415,000,000.00 2,464,100,000.00
Trade off financial liabilities
Bill payable 100,000,000.00 180,000,000.00
Account payable 528,468,692.00 425,185,891.00
Advance payment
Employees’ wage payable 33,577,741.00 35,754,954.00
Tax payable 10,072,697.00 15,624,389.00
Interest payable 67,767,941.00 107,224,999.00
Dividend payable 7,628,640.00 7,558,762.00
Other account payable 156,319,840.00 120,858,146.00
Non-current liability due in 1 year 560,000,000.00 40,000,000.00
Other current liability 610,882,667.00
Total of current liability 3,489,718,218.00 3,396,307,141.00
Non-current liabilities：
Long-term loan 129,000,000.00 1,229,000,000.00
Bond payable 3,188,453,075.00 1,994,144,734.00
Long-term payable
Special payable
Expected liabilities
37
广东电力发展股份有限公司 2013 半年度报告全文
Differed income tax liability 2,057,101.00
Other non-current liabilities 27,864,241.00 27,066,924.00
Total of Non-current liabilities 3,345,317,316.00 3,252,268,759.00
Total of liability 6,835,035,534.00 6,648,575,900.00
Owners’ equity
Share capital 4,375,236,655.00 4,375,236,655.00
Capital reserves 5,586,052,039.00 5,617,859,535.00
Less：Shares in stock
Special reserves
Surplus reserves 4,203,571,277.00 3,955,568,618.00
Commonly risk reserves
Undistributed profit 2,439,324,633.00 1,780,751,901.00
Different of foreign currency
translation
Total of owners’ equity 16,604,184,604.00 15,729,416,709.00
Total of liabilities and owners’ equity 23,439,220,138.00 22,377,992,609.00
Legal representative ：Pan Li
Person-in-charge of the accounting work：Li Xiaoqing
Person-in -charge of the accounting organ：Qin Jingdong
3. Consolidated Profit statement
Prepared by：Guangdong Electric Power Development Co., Ltd.
Unit：RMB
Items Report period Same period of the previous year
I. Income from the key business 14,547,027,472.00 14,497,823,581.00
Incl：Business income 14,547,027,472.00 14,497,823,581.00
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 12,529,956,769.00 13,572,155,627.00
Incl：Business cost 11,025,868,327.00 12,182,528,843.00
38
广东电力发展股份有限公司 2013 半年度报告全文
Interest expense 0.00
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 100,133,677.00 57,102,000.00
Sales expense 1,753,357.00 956,644.00
Administrative expense 401,370,835.00 381,031,604.00
Financial expenses 983,330,573.00 950,536,536.00
Asset impairment loss 17,500,000.00
Add：Gains from change of fir value
（“-”for loss）
Investment gain（“-”for loss） 379,355,414.00 162,957,368.00
Incl: investment gains from affiliates 348,882,444.00 127,642,527.00
Gains from currency exchange
（“-”for loss）
III. Operational profit（“-”for loss 2,396,426,117.00 1,088,625,322.00
Add：Non-business income 22,045,003.00 55,383,319.00
Less：Non business expenses 1,192,282.00 1,231,410.00
Incl：Loss from disposal of non-current
190,368.00 27,562.00
assets
IV.Total profit(“-”for loss) 2,417,278,838.00 1,142,777,231.00
Less：Income tax expenses 493,910,564.00 263,926,877.00
V. Net profit（“-”for net loss 1,923,368,274.00 878,850,354.00
Including: Net profit realized by the
entity taken over before the takeover
Net profit attributable to the owners
1,357,484,280.00 577,436,462.00
of parent company
Minority shareholders’ equity 565,883,994.00 301,413,892.00
VI. Earnings per share： -- --
（I）Basic earnings per share 0.31 0.15
(II)Diluted earnings per share 0.31 0.15
VII. Other comprehensive income -31,807,496.00 3,163,984.00
39
广东电力发展股份有限公司 2013 半年度报告全文
VIII. Total comprehensive income 1,891,560,778.00 882,014,338.00
Total comprehensive income
attributable to the owner of the parent 1,325,676,784.00 580,600,446.00
company
Total comprehensive income
565,883,994.00 301,413,892.00
attributable minority shareholders
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
Prepared by：Guangdong Electric Power Development Co., Ltd.
Items Report period Same period of the previous year
I. Income from the key business 1,494,929,807.00 1,544,981,110.00
Incl：Business cost 1,190,666,864.00 1,387,282,791.00
Business tax and surcharge 9,292,875.00 5,994,320.00
Sales expense 191,849.00 263,005.00
Administrative expense 74,898,654.00 68,732,493.00
Financial expenses 172,176,352.00 196,319,231.00
Asset impairment loss
Add：Gains from change of fir value
（“-”for loss）
Investment gain（“-”for loss） 1,163,629,634.00 476,013,186.00
Incl: investment gains from affiliates 348,882,444.00 234,407,052.00
II. Operational profit（“-”for loss 1,211,332,847.00 362,402,456.00
Add：Non-business income 1,786,767.00 1,991,782.00
Less：Non business expenses 277,657.00 1,027,797.00
Incl：Loss from disposal of
non-current assets
III.Total profit(“-”for loss) 1,212,841,957.00 363,366,441.00
Less：Income tax expenses
IV. Net profit（“-”for net loss） 1,212,841,957.00 363,366,441.00
40
广东电力发展股份有限公司 2013 半年度报告全文
V. Earnings per share： -- --
（I）Basic earnings per share
(II)Diluted earnings per share
VI. Other comprehensive income -31,807,496.00 3,163,984.00
VII. Total comprehensive income 1,181,034,461.00 366,530,425.00
Legal representative ：Pan Li
Person-in-charge of the accounting work：Li Xiaoqing
Person-in -charge of the accounting organ：Qin Jingdong
5. Consolidated Cash flow statement
Unit：RMB
Prepared by：Guangdong Electric Power Development Co., Ltd.
Items Report period Same period of the previous year
I.Cash flows from operating activities
Cash received from sales of goods or
16,886,304,978.00 16,804,909,948.00
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
41
广东电力发展股份有限公司 2013 半年度报告全文
Tax returned 8,677,089.00 4,814,380.00
Other cash received from business
65,219,924.00 107,886,580.00
operation
Sub-total of cash inflow 16,960,201,991.00 16,917,610,908.00
Cash paid for purchasing of
9,110,963,679.00 11,177,576,657.00
merchandise and services
Net increase of client trade and
advance
Net increase of savings n central
bank and brother company
Cash paid for original contract claim
Cash paid for interest, processing fee
and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 667,731,364.00 572,797,637.00
Taxes paid 1,595,629,720.00 981,089,256.00
Other cash paid for business
262,586,367.00 246,262,903.00
activities
Sub-total of cash outflow from
11,636,911,130.00 12,977,726,453.00
business activities
Cash flow generated by business
5,323,290,861.00 3,939,884,455.00
operation, net
II.Cash flow generated by investing
Cash received from investment
258,780,000.00 32,000,000.00
retrieving
Cash received as investment gains 73,871,656.00 169,206,416.00
Net cash retrieved from disposal of
fixed assets, intangible assets, and other 2,853,086.00 64,956,714.00
long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Net cash received from disposal of
422,451,302.00
subsidiaries or other operational units
Sub-total of cash inflow due to
757,956,044.00 266,163,130.00
investment activities
Cash paid for construction of fixed
assets, intangible assets and other 1,085,719,507.00 1,558,939,257.00
long-term assets
42
广东电力发展股份有限公司 2013 半年度报告全文
Cash paid as investment 24,000,000.00 14,781,600.00
Net increase of loan against pledge
Net cash received from subsidiaries and
other operational units
Other cash paid for investment
150,000.00 142,686.00
activities
Sub-total of cash outflow due to
1,109,869,507.00 1,573,863,543.00
investment activities
Net cash flow generated by investment -351,913,463.00 -1,307,700,413.00
III.Cash flow generated by financing
Cash received as investment 42,000,000.00 90,332,375.00
Incl: Cash received as investment
42,000,000.00 90,332,375.00
from minor shareholders
Cash received as loans 13,518,405,946.00 12,237,771,989.00
Cash received from bond placing
Other financing –related ash received
Sub-total of cash inflow from
13,560,405,946.00 12,328,104,364.00
financing activities
Cash to repay debts 14,125,818,695.00 12,735,102,617.00
Cash paid as dividend, profit, or
1,612,454,756.00 2,072,024,801.00
interests
Incl: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing activities 5,691,659.00 87,995,224.00
Sub-total of cash outflow due to
15,743,965,110.00 14,895,122,642.00
financing activities
Net cash flow generated by financing -2,183,559,164.00 -2,567,018,278.00
IV. Influence of exchange rate
alternation on cash and cash equivalents
V.Net increase of cash and cash
2,787,818,234.00 65,165,764.00
equivalents
Add: balance of cash and cash
2,813,898,537.00 4,040,520,194.00
equivalents at the beginning of term
VI.Balance of cash and cash equivalents
5,601,716,771.00 4,105,685,958.00
at the end of term
Legal representative ：Pan Li
43
广东电力发展股份有限公司 2013 半年度报告全文
Person-in-charge of the accounting work：Li Xiaoqing
Person-in -charge of the accounting organ：Qin Jingdong
6. Cash flow statement of the Parent Company
Prepared by：Guangdong Electric Power Development Co., Ltd.
Unit：RMB
Items Report period Same period of the previous year
I.Cash flows from operating activities
Cash received from sales of goods or
1,724,451,124.00 1,864,051,062.00
rending of services
Tax returned
Other cash received from business
52,590,539.00 22,682,205.00
operation
Sub-total of cash inflow 1,777,041,663.00 1,886,733,267.00
Cash paid for purchasing of
1,112,888,534.00 1,183,908,500.00
merchandise and services
Cash paid to staffs or paid for staffs 163,137,690.00 137,424,003.00
Taxes paid 112,610,103.00 82,941,412.00
Other cash paid for business
49,545,061.00 58,631,685.00
activities
Sub-total of cash outflow from
1,438,181,388.00 1,462,905,600.00
business activities
Cash flow generated by business
338,860,275.00 423,827,667.00
operation, net
II.Cash flow generated by investing
Cash received from investment
366,200,000.00 32,000,000.00
retrieving
Cash received as investment gains 671,864,697.00 506,549,752.00
Net cash retrieved from disposal of
fixed assets, intangible assets, and other 9,746,181.00
long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other cash receivable for investment
422,451,302.00
activities
Sub-total of cash inflow due to 1,470,262,180.00 538,549,752.00
44
广东电力发展股份有限公司 2013 半年度报告全文
investment activities
Cash paid for construction of fixed
assets, intangible assets and other 90,348,412.00 86,788,014.00
long-term assets
Cash paid as investment 610,000,000.00 471,726,621.00
Net cash received from subsidiaries and
0.00
other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
700,348,412.00 558,514,635.00
investment activities
Net cash flow generated by investment 769,913,768.00 -19,964,883.00
III.Cash flow generated by financing
Cash received from capital
contributions
Cash received as loans 3,011,000,000.00 1,594,100,000.00
Cash received from bond placing
Other financing –related ash received
Sub-total of cash inflow from
3,011,000,000.00 1,594,100,000.00
financing activities
Cash to repay debts 2,834,100,000.00 1,480,000,000.00
Cash paid as dividend, profit, or
506,907,377.00 356,084,890.00
interests
Other cash paid for financing activities 9,432,397.00 383,348.00
Sub-total of cash outflow due to
3,350,439,774.00 1,836,468,238.00
financing activities
Net cash flow generated by financing -339,439,774.00 -242,368,238.00
IV. Influence of exchange rate
alternation on cash and cash equivalents
V.Net increase of cash and cash
769,334,269.00 161,494,546.00
equivalents
Add: balance of cash and cash
333,626,540.00 417,749,940.00
equivalents at the beginning of term
VI.Balance of cash and cash equivalents
1,102,960,809.00 579,244,486.00
at the end of term
Legal representative ：Pan Li
45
广东电力发展股份有限公司 2013 半年度报告全文
Person-in-charge of the accounting work：Li Xiaoqing
Person-in -charge of the accounting organ：Qin Jingdong
7. Consolidated Statement on Change in Owners’ Equity
Prepared by：Guangdong Electric Power Development Co., Ltd.
Report period
Unit：RMB
Report period
Owner’s equity Attributable to the Parent Company
Commo Minor Total of
Items
Less: Speciali Attribut
Share Capital Surplus n risk sharehold owners’
Shares zed able Other
Capital reserves reserves provisio ers’ equity equity
in stock reserve profit
n
4,375,2 3,955,5
5,025,28 2,899,22 5,719,434 21,974,756
I.Balance at the end of last year 36,655. 68,618.
9,056.00 7,999.00 ,200.00 ,528.00
00 00
Add: Change of accounting
policy
Add: Change of accounting
policy
Correcting of previous errors
4,375,2 3,955,5
5,025,28 2,899,22 5,719,434 21,974,756
Other 36,655. 68,618.
9,056.00 7,999.00 ,200.00 ,528.00
00 00
-31,807, 248,002 803,215, 287,441,3 1,306,851,
III.Changed in the current year
496.00 ,659.00 055.00 05.00 523.00
1,357,48 565,883,9 1,923,368,
（I） Net profit
4,280.00 94.00 274.00
-31,807, -31,807,49
（II）Other misc.income
496.00 6.00
-31,807, 1,357,48 565,883,9 1,891,560,
Total of (I) and (II)
496.00 4,280.00 94.00 778.00
(III) Investment or decreasing 42,000,00 42,000,000
of capital by owners 0.00 .00
42,000,00 42,000,000
1. Capital inputted by owners
0.00 .00
2．Amount of shares paid and
46
广东电力发展股份有限公司 2013 半年度报告全文
accounted as owners’ equity
3. Other
248,002 -554,26 -320,442, -626,709,2
（IV）Profit allotment
,659.00 9,225.00 689.00 55.00
248,002 -248,00
1.Providing of surplus reserves
,659.00 2,659.00
2.Providing of common risk
provisions
3．Allotment to the owners (or -306,26 -320,442, -626,709,2
shareholders) 6,566.00 689.00 55.00
4．Other
(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
（VII）Other
4,375,2 4,203,5
IV. Balance at the end of this 4,993,48 3,702,44 6,006,875 23,281,608
36,655. 71,277.
term 1,560.00 3,054.00 ,505.00 ,051.00
00 00
Amount of the previous term
Unit:RMB
Amount of the previous term
Owner’s equity Attributable to the Parent Company
Commo Minor Total of
Items
Less: Speciali Attribut
Share Capital Surplus n risk sharehold owners’
Shares zed able Other
Capital reserves reserves provisio ers’ equity equity
in stock reserve profit
n
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. 8,571.00 81,032. 2,625.00 ,534.00 ,900.00
47
广东电力发展股份有限公司 2013 半年度报告全文
00 00
Add：Retrospective adjustment
2,770,32 412,566, 2,423,575 5,606,462,
caused by merger of entities
0,959.00 757.00 ,230.00 946.00
under common control
Add: Change of accounting
policy
Correcting of previous errors
Other
2,797,4 3,775,4
II.Balance at the beginning of 4,619,03 2,197,53 5,468,454 18,857,965
51,138. 81,032.
current year 9,530.00 9,382.00 ,764.00 ,846.00
00 00
2,537,78 180,087 -70,177, 42,611,89 155,059,48
III.Changed in the current year
7.00 ,586.00 782.00 3.00 4.00
577,436, 301,413,8 878,850,35
（I） Net profit
462.00 92.00 4.00
3,163,98 3,163,984.
（II）Other misc.income
4.00 00
3,163,98 577,436, 301,413,8 882,014,33
Total of (I) and (II)
4.00 462.00 92.00 8.00
(III) Investment or decreasing -626,19 90,958,57 90,332,375
of capital by owners 7.00 2.00 .00
-626,19 90,958,57 90,332,375
1. Capital inputted by owners
7.00 2.00 .00
2．Amount of shares paid and
accounted as owners’ equity
3. Other
180,087 -647,61 -349,760, -817,287,2
（IV）Profit allotment
,586.00 4,244.00 571.00 29.00
180,087 -180,08
1.Providing of surplus reserves
,586.00 7,586.00
2.Providing of common risk
provisions
3．Allotment to the owners (or -467,52 -349,760, -817,287,2
shareholders) 6,658.00 571.00 29.00
4．Other
(V) Internal transferring of
owners’ equity
1. Capitalizing of capital
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广东电力发展股份有限公司 2013 半年度报告全文
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
2,797,4 3,955,5
IV. Balance at the end of this 4,621,57 2,127,36 5,511,066, 19,013,025
51,138. 68,618.
term 7,317.00 1,600.00 657.00 ,330.00
00 00
Legal representative ：Pan Li
Person-in-charge of the accounting work：Li Xiaoqing
Person-in -charge of the accounting organ：Qin Jingdong
8. Statement of change in owner’s Equity of the Parent Company
Prepared by：Guangdong Electric Power Development Co., Ltd.
Amount of the Current term
Unit：RMB
Amount of the Current term
Less: Common Total of
Items Share Capital Specialized Surplus Attributabl
Shares in risk owners’
Capital reserves reserve reserves e profit
stock provision equity
4,375,236, 5,617,859, 3,955,568, 1,780,751, 15,729,416
I.Balance at the end of last year
655.00 535.00 618.00 901.00 ,709.00
Add: Change of accounting
policy
Correcting of previous errors
Other
II.Balance at the beginning of 4,375,236, 5,617,859, 3,955,568, 1,780,751, 15,729,416
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广东电力发展股份有限公司 2013 半年度报告全文
current year 655.00 535.00 618.00 901.00 ,709.00
-31,807,49 248,002,65 658,572,73 874,767,89
III.Changed in the current year
6.00 9.00 2.00 5.00
1,212,841, 1,212,841,
（I） Net profit
957.00 957.00
-31,807,49 -31,807,49
（II）Other misc.income
6.00 6.00
-31,807,49 1,212,841, 1,181,034,
Total of (I) and (II)
6.00 957.00 461.00
(III) Investment or decreasing of
capital by owners
1. Capital inputted by owners
2．Amount of shares paid and
accounted as owners’ equity
3. Other
248,002,65 -554,269,2 -306,266,5
（IV）Profit allotment
9.00 25.00 66.00
248,002,65 -248,002,6
1.Providing of surplus reserves
9.00 59.00
2.Providing of common risk
provisions
3．Allotment to the owners (or -306,266,5 -306,266,5
shareholders) 66.00 66.00
4．Other
(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
（VII）Other
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广东电力发展股份有限公司 2013 半年度报告全文
IV. Balance at the end of this 4,375,236, 5,586,052, 4,203,571, 2,439,324, 16,604,184
term 655.00 039.00 277.00 633.00 ,604.00
Amount of the previous term
Unit：RMB
Amount of the previous term
Less: Common Total of
Items Share Capital Specialize Surplus Attributabl
Shares in risk owners’
Capital reserves d reserve reserves e profit
stock provision equity
2,797,451, 1,782,543, 3,775,481, 1,420,107, 9,775,583,
I.Balance at the end of last year
138.00 554.00 032.00 531.00 255.00
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 138.00 554.00 032.00 531.00 255.00
3,163,984. 180,087,58 15,431,786 198,683,35
III.Changed in the current year
00 6.00 .00 6.00
363,366,44 363,366,44
（I） Net profit
1.00 1.00
3,163,984. 3,163,984.
（II）Other misc.income
00 00
3,163,984. 363,366,44 366,530,42
Total of (I) and (II)
00 1.00 5.00
(III) Investment or decreasing of
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
6.00 55.00 69.00
180,087,58 -180,087,5
1.Providing of surplus reserves
6.00 86.00
2.Providing of common risk
provisions
3．Allotment to the owners (or -167,847,0 -167,847,0
shareholders) 69.00 69.00
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广东电力发展股份有限公司 2013 半年度报告全文
4．Other
(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
（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 138.00 538.00 618.00 317.00 611.00
Legal representative ：Pan Li
Person-in-charge of the accounting work：Li Xiaoqing
Person-in -charge of the accounting organ：Qin Jingdong
（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
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广东电力发展股份有限公司 2013 半年度报告全文
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%
Pursuant to the approval on the Restructuring Plan of Guangdong Yudean Group Co., Ltd and Guangdong Electric
Power Development Co., Ltd., and the Approval on the Guangdong Electric Power Development Co., Ltd.,
Issuing Shares to Buy Assets of Guangdong Yudean Group Co., Ltd. Documents issued by the Stte-owned Assets
Supervision and Administration Commission of Guangdong and accordingly referred to as Yue Guo Zi Han(2011)
No.945 and Zheng Jian Xu Ke(2012) No.865, the Company non-public offered the domestic listed ordinary
shares( A share) in December, 2012, 1 RMB in book value per share and 4.73 RMB is issue price per share, and
the number of issued is 1,577,785,517, which once registered in Guangdong Yudean Group Co., Ltd can’t transfer
to others within 36 months. Guangdong Yudean Group Group Co., Ltd used the 60% shares of Shenzhen
Guangqian Electric Power Holding Co., (“Guangqian Electric”) , 35% shares of Guangdong Huizhou LNG Power
Co., Ltd.(“ Huizhou LNG”), 40% Shares shares of Guangdong Yudean Shibeishan Wind Power Co.,
Ltd.(“ Shibeishan”), 45% shares of Guangdong Huizhou Pinghai Power Generation Company。（”Huizhou
Pinghai”）, 40% share3s of Guangdong Red Bay Electric Power Co., Ltd.(“ Red Bay Electric”), 20% shares of
Guangdong Guohua Yudean Taishan Generation Company.(“ Guohua Taishan”) and 15% shares of Guangdong
Electric Fuel Supply Co., Ltd.( “ Fuel Supply”) (all above collectively referred to as “ Targeted Assets “) to buy
the domestic listed ordinary shares ( A share) of Guangdong Yudean Group Co., Ltd. after the non-tradable share
offering the stock shares which were owned by Yudean Increased from 48.99% to 67.39%.
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. The Company and its subsidiaries (the “Group”) are principally engaged in the susiness of
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广东电力发展股份有限公司 2013 半年度报告全文
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 interim financial statements were prepared according to the requirements of No. 32 Accounting Standard for
Business Enterprises - Interim Financial Report promulgated by Ministry of Finance of the People's Republic of
China (hereinafter referred to as "Ministry of Finance") and No. 3 Standard for Contents and Formats of
Information Disclosure of the Companies Publicly Issuing Securities - Contents and Formats of Semiannual
Report promulgated by China Securities Regulatory Commission (hereinafter referred to as "CSRC") (revision in
2007). The accounting policies used for preparing the interim financial statements are the same with those used
for preparing the financial statements for the previous year. According to No.32 Accounting Standard for Business
Enterprises -- Interim Financial Report, the notes to interim financial statements were appropriately simplified as
compared with the notes to yearly financial statements.
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, 2013 as well as the business performance
and cash flow situation in the first half of 2013 of the Company frankly and completely.
3. Accounting period
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, 2013 to 6 months ended June 3
0,
4. Accounting standard money
The Company takes RMB as the standard currency for bookkeeping.
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.
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
54
广东电力发展股份有限公司 2013 半年度报告全文
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.
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.
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
2013, 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.
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广东电力发展股份有限公司 2013 半年度报告全文
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 2013, The financial liabilities in the Group
mainly comprise other financial liabilities, including payables and lorrowings.
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.
Equity instrument refers to the contract that can prove the ownership of the residual equity of the assets after
deduction of all liabilities.
After deduction of transaction cost, the consideration received by the Company through issue of equity instrument
is accounted for as owner's equity. The consideration and transaction cost paid for repurchase of the Company's
equity instruments decreases owner's equity. By June 30, 2013, the Group had not issued other equity instruments
except share capital.
（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.
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广东电力发展股份有限公司 2013 半年度报告全文
Borrowings are recognized initially at fair value, net of transaction costs incurrend, and subsequently carried at
amortised costs using the effective interest methor.
（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.
The objective evidences that show the impairment of equity instrument investment available for sales include
serious or non-temporary decline of the fair value of equity instrument investment. The Group separately checks
all equity instrument investments available for sales on balance sheet day. If the fair value of an equity instrument
investment on balance sheet day is lower than its initial investment cost by over 50% (including 50%) or for over
one year (including one year), its impairment will be demonstrated. If the fair value of an equity instrument
investment on balance sheet day is lower than its initial investment cost by over 20% (including 20%) but less
than 50%, the Group will judge whether the impairment of equity instrument investment occurs based on
comprehensive consideration of other relevant factors such as price fluctuation rate.
When impairment of financial assets calculated by cost after amortization occurs, provision for impairment shall
be made for the difference between their present value and their book value according to expected future cash
flow (not including future credit loss that has not happened). If objective evidences demonstrate the recovery of
57
广东电力发展股份有限公司 2013 半年度报告全文
the value of a financial asset and are objectively related to the matters occurred after the recognition of such loss,
the recognized impairment loss shall be written back and accounted for as profits or losses for current period.
When impairment of financial assets available for sale occurs, the aggregate losses formed due to decline of fair
value directly accounted for as shareholders' equity shall be transferred out and accounted for as impairment loss.
If the fair value of a debt instrument investment available for sales for which impairment loss has been recognized
rises after balance sheet day and it is objectively related to the matters occurred after the recognition of original
impairment loss, the recognized impairment loss shall be written back and accounted for as profits or losses for
current period. For the equity instrument investment available for sales for which impairment loss has been
recognized, the fair value increased after balance sheet day shall be directly accounted for as shareholders' equity.
10. Recognition standard and providing basis of bad debt provision on receivable accounts
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 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.
When objective evidence indicates the Group can’t receive money according
Bad debt recognition criterion
originalterms, provision for bad debts recognized.
The bad debt will be recognized when the present value of estimated future cash flow
Bad debt provision method
below their 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
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.
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广东电力发展股份有限公司 2013 半年度报告全文
（4）Inventory system
Perpetual inventory
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
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广东电力发展股份有限公司 2013 半年度报告全文
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 . 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 30-40 year 5% and 2.32-3.17% respectively.
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广东电力发展股份有限公司 2013 半年度报告全文
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.
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广东电力发展股份有限公司 2013 半年度报告全文
（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.
（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 Annual depreciation
value rate
House and Building 10- 35 years 5%-10% 2.57% to 9.5%
Electric utilities in service 8-18 years 5%-10% 5% to11.88%
Transportation equipment 8-10 years 5%-10% 9% to 11.88%
Other equipment 5-10 years 5%-10% 9% to 19%
The estimated useful life, 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.
（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.(Notes 25(1))
（5）Other
Fixed assets disposal
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
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广东电力发展股份有限公司 2013 半年度报告全文
（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.
（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 (Notes 25(1))
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.
（2）Capitalizing period of borrowing expenses
During Capitalizing period of borrowing expenses the point in time stops the capital point, the moratorium on Cap
italizing 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.
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广东电力发展股份有限公司 2013 半年度报告全文
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. 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.
(a)Land use rights and sea use lights
Land Use rights are amortized on the straight-line basis over 20-70 years. If the purchase costs of Land use rights
and attached buildings cannot be reliably allocated between the Land use rights and buildings, for the purchase
costs are recognized as fized assets.
Sea use rights acquired are amortized on the straight-line basis in 50 years.
(b)Associated projects for electricity transmission and transformation, microwave engineering and transportation
engineering.
Associated projects for electricity transmission and transformation and microwave engineering are for the grid
connection project between the Guangdong Electric Holding Co., and Guangdong Power Grid Corporation.
Associated projects for electricity transmission and transformation, microwave engineering and transportation
engineering are amoritized on the straight-line basis in 10 years according to their estimated useful lives.
Transportation engineering are amortized on the straight-line basis over 10-20 years according to their estimated
useful lives.
(c)Other intangible assets
Other intangible assets acquired except for Land use rights , sea use rights, associated projects for electricity
transmission and transformation, microwave engineering and transportation engineering are amortized on the
straight-line basis over 2 to 25 years according to their estimated useful lives.
64
广东电力发展股份有限公司 2013 半年度报告全文
Name Expected useful life Basis
Land use right and sea use
20-70 years Useful life
right
Associated projects for
electricity transmission and
transformation, microwave
10-20 years Expected beneficial period
engineering and transportation
engineering.
Other 2-25 years Expected beneficial period
（3）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 (Note 25(1))
.18.Anticipated liabilities
If an obligation related to contingent events is the current obligation undertaken by the Group and the
performance of such obligation is very likely to cause the outflow of economic interest from the Group and
relevant amount can be reliably measured, the Group shall recognize estimated liabilities. If the influence of time
value of currency is significant, estimated liabilities shall be determined according to the amount after the
discounting of expected future cash flow.
（1）Standard 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.
（2）Accounting of expectable liabilities
The carrying amount of provisions is reviewed at each balance sheet date and adjusted to reflect the current best
estimate.
19. 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
65
广东电力发展股份有限公司 2013 半年度报告全文
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.
20. 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.
（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
66
广东电力发展股份有限公司 2013 半年度报告全文
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.
21. 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.
22.Operational leasing and Financing leasing
（1）Accounting of operational leasing
Afinance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an asset.
An operating lease is a lease other than a finance lease.
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
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
67
广东电力发展股份有限公司 2013 半年度报告全文
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.
23.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.
Once the asset impairment loss mentioned above is recognised, it is not allowed to be reversed for the value
recovered in the subsequent periods. The amount of impairment loss shall offset against the book value of all
assets in proportion according to the proportion of book value of asset group or all assets in asset group. However,
the book value of all assets after offsetting shall not be lower than the highest of the net amount after subtracting
disposal expenses from the fair value of such assets (if confirmable), the present value of such assets according to
expected future cash flow (if confirmable) and zero.
（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.
24.Dividend distribution
Proposed Dividend distribution is recognised as a liability in the period in which it is approved by the
68
广东电力发展股份有限公司 2013 半年度报告全文
shareholders’ meeting.
(3) Related parties
If one party controls or jointly controls another party or exerts significant influence on another party or if two
parties or more than two parties are controlled or jointly controlled by the same party, they constitute related
parties. A related party can be an individual or enterprise. The enterprises under state control between which there
is no other relationship shall not constitute related parties of the Group. The related parties of the Group and the
Company include but are not limited to the following:
(a) The parent company of the Company;
(b) Subsidiaries of the Company;
(c) Other enterprises under the control by the same parent company;
(d) The enterprises or individuals under the same control or joint control by a party with the Group;
(e) Joint venture companies of the Group, including the subsidiaries of joint venture companies;
(f) Affiliated companies of the Group, including subsidiaries of affiliated companies;
(G) Main individual investors of the Group and their close family members;
(h) Key managerial personnel of the Group and their close family members;
(i) Key managerial personnel of the parent company of the Company;
(j) Close family members of the key managerial personnel of the parent company of the Company; and
(k) Other enterprises controlled or jointly controlled by the key managerial personnel of the Group or their close
family members.
Apart from the above-mentioned enterprises or individuals determined as related parties of the Group or the
Company according to relevant requirements of Accounting Standards for Business Enterprises, the following
enterprises or individuals (including but not limited to the following) also constitute related parties of the Group
or the Company according to the requirements of Regulations on Information Disclosure of Listed Companies
promulgated by CSRC:
(l) An enterprises that holds more than 5% of total shares of the Company or persons taking concerted action;
(m) An individuals who directly or indirectly holds more than 5% of total shares of the Company and his close
family members, supervisors of the Company and their close family members;
(n) The enterprises under one of the circumstances mentioned in (a), (c) and (l) within the past 12 months or within
the following 12 months according to relevant agreed arrangement;
(o) The individuals under one of the circumstances mentioned in (h), (i) and (m) within the past 12 months or within
the following 12 months according to relevant agreed arrangement; and
(p) The enteprises directly or indirectly controlled by the individuals mentioned in (h), (i), (m) and (o) or in which
they act as directors or senior executives, except the Company and its controlled subsidiaries.
(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
69
广东电力发展股份有限公司 2013 半年度报告全文
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 25(1), 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.
c.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
VAT sales amount multiplied by the effective 17% or 13%
tax rate less deductible VAT input of
current period)
Business tax Taxable turnover 5% or 3%
Value added tax and Business tax
City maintenance construction tax 5% or 7%
amount
Enterprise income tax Taxable income 0%,15% or 25%
Value added tax and Business tax
Education surtax 3%
amount
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广东电力发展股份有限公司 2013 半年度报告全文
Value added tax and Business tax
Local surcharge for Education 2%
amount
Income tax rate apply able to branches and factories
Except for the two subsidiaries, Shenzhen Guangqian Electric Power Co., Ltd. (“Guangqian Electric ”) and
Guangdong Yudean Xuwen Wind Power Co., Ltd. (“Xuwen Wind Power”) (as disclosed in the following notes),
the enterprise income tax rate applicable to the Group is 25%.
(2) Tax preferential and approval
According to the approval of Cai Shui(2008) No.46 and GuoShui Fa(2009) No.80 , the enterprise income tax of
Xuwen Wind, from the profit-making year, the first to third year was exempted from enterprise income tax, and
the fourth to sixth year half exempted from enterprise income tax. On January 1, 2012, Xuwen Wind Was
unprofitable , but it was considered to the first profitable year, therefore, the enterprise income tax rate of Xuwen
Wind in 2013 is 0%.
Guangqian Electric HAS OBTAINED THE High-tech Enterprise Certification in Oct, 2011, and the certification
is valid in three years from 2011, recorded in Shen Di Shui Bao Bei (2012) No.331 by Shenzhen Baoan District
Taxation Department in July, 2012, therefore , Guangqian Electric Can have the hith-tech enterprises tax
preferential, and the enterprise income tax rate in 2013 is 15%.
According to Cai Shui (2008) No.156, Enterprises who comprehensive utilized of resources can enjoy tax
incentives. Shibeishan and Zhangjiang Wind Power enjoy VAT tax refund of 50% selling wind power electricity.
3.Other statements
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广东电力发展股份有限公司 2013 半年度报告全文
(VI) Enterprise consolidation and combined financial statements
1. Subsidiary
（1）Subsidiary obtained through establishment or investment
Unit：RMB
Other
After wrote down current
projects
period loss of minority
balance Amount used to
Actual Whether shareholders over equity
Full essential write down lost
Registra Register capital Holding Proportion of consolid Interest of beginning share of
name of Subsidia Busines Business ly from included in
tion ed amounts proportion voting ation of minority minority shareholders in
subsidia ry type s scope net minority
place capital of (%) rights(%) report shareholder the subsidiary from the
ry investme shareholder
the end form parent company’s
nt to interest
share ,Balance of Owner's
subsidiar
equity
y
Maoming
Zhennen Production of
g electric
Maomin 1,019,5 595,005,
Thermoel Direct Electric power, power 58.27% 58.27% Yes 436,367,340.00
g 35,500 967.00
ectric station
power construction
Co., Ltd
Guangdo Production of
ng electric
2,919,2 1,930,39
Yudean Direct Jieyang Electric power, power 65% 65% Yes 1,199,239,490.00
72,000 5,668.00
Jinghai station
Electric construction
72
广东电力发展股份有限公司 2013 半年度报告全文
Power
Develop
ment Co.,
Ltd.
New Energy
Zhanjian Development
Zhanjia 346,110, 242,277,
g Wind Direct Electric and 70% 60% Yes 54,512,917.00
ng 000 000.00
Power Generation of
Electricity
Guangdo
ng
Yudean Providing
Anxin Donggu 20,000, repair and 20,000,0
Direct Electric 100% 100% Yes
Electric an 000 maintenance 00.00
Power service
Maintena
nce
Guangdo
ng Production of
Yudean electric
Donggu 150,000 90,000,0
Humen Direct Electric power, power 60% 60% Yes 57,690,661.00 -166,624.00
an ,000 00.00
Electric station
Power construction
Co., Ltd.
Guangdo Coal Wharf c
ng onstruction, p
Maomin 285,000 485,000,
Yudean Direct Electric ower plant co 100% 100% Yes
g ,000.00 000.00
Power nstruction, ele
Bohe ctricity projec
73
广东电力发展股份有限公司 2013 半年度报告全文
Repair ts with techni
Co., Ltd. cal advice an
d services
Guangd
Construction,
ong
Investment
Yudean
and
Huadu
Management
Natural Guangz 120,000 78,000,0
Direct Electric of power 65% 65% Yes 41,881,100.00 -118,900.00
gas hou ,000 00.00
plants and
Thermo
heating power
power
pipeline
Co.,
networks
Ltd.
Guangd
Electricity
ong
investment ,E
Dapu
Meizho 300,000 lectricity 300,000,
Power Direct Electric 100% 100% Yes
u ,000 Engineering 000.00
Generati
Technology
on Co.,
Service
Ltd.
Guangd
Construction,
ong
Operating
Yudean
and
Dianbai Maomin 10,000, 10,000,0
Direct Electric Manageme 100% 100% Yes
Wind g 000 00.00
nt of
Power
Electric
Co.,
plant
Ltd.
Zhanjia Indirect Zhanjia Electric 20,000, Providing 15,200,0 76% 76% Yes 6,085,705.00
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广东电力发展股份有限公司 2013 半年度报告全文
ng ng 000 repair and 00.00
Yuheng maintenance
Electric service
Power
Mainten
ance
and
installati
on Co.,
ltd
Guangd
ong
Production of
Yudean
electric
Xuwen Zhanjia 173,190 121,233,
Indirect Electric power, power 70% 60% Yes 53,583,374.00
Wind ng ,000 000.00
station
Power
construction
Co.,
Ltd.
Guangd
ong Electric Plant
Yudean Construction ,
Leizhou Zhanjia 20,000, Electricity 14,000,0
Indirect Electric 70% 60% Yes 6,002,264.09
Wind ng 000 Engineering 00.00
Power Technology
Co., Service
Ltd.
Other statements on Subsidiaries obtained through incorporation or investment：
75
广东电力发展股份有限公司 2013 半年度报告全文
（2）Subsidiaries procured through merger of entities under common control
Unit：RMB
Other After wrote down
projects current period loss of
Actual balance Amount used to minority shareholders
Whether
Full capital essential write down lost over equity beginning
Registra Holding Proportion consolidati Interest of
name of Subsidia Busines Registered amoun ly from included in share of minority
tion Business scope proportion of voting on of minority
subsidia ry type s capital ts of net minority shareholders in the
place (%) rights(%) report shareholder
ry the investme shareholder subsidiary from the
form
end nt to interest parent company’s
subsidiar share ,Balance of
y Owner's equity
Zhanjia Production of
2,185,
ng Zhanjia electric power,
Direct Electric 2,875,440,000 334,40 76% 76% Yes 949,026,724.00
Electric ng power station
0.00
Power construction
Production of
Yuejia 701,27
Meizho electric power,
Electric Direct Electric 1,200,000,000 9,338. 58% 55.56% Yes 256,899,728.00
u power station
Power 00
construction
Guangd
ong
Production of
Shaogua 500,50
Shaogua electric power,
n Direct Electric 770,000,000 0,000. 65% 65% Yes 94,232,720.00
n power station
Yuejian 00
construction
g Power
Generati
76
广东电力发展股份有限公司 2013 半年度报告全文
on
Zhanjia
Production of
ng 1,150,
Zhanjia electric power,
Zhongy Direct Electric 1,454,300,000 248,11 90% 90% Yes 132,058,030.00
ng power station
ue 5.00
construction
Energy
Shenzhe
n
Production of
Guangqi 1,353,
Shenzhe electric power,
an Direct Electric 1,030,292,500 153,22 100% 100% Yes
n power station
Electric 3.00
construction
Power
Co., ltd.
Guangd
ong
Huizhou
Production of
Natural 845,84
electric power,
Gas Direct Huizhou Electric 963,000,000 6,646. 67% 67% Yes 421,120,813.00
power station
Power 00
construction
Generati
on Co.,
Ltd.
Guangd
ong
Production of
Huizhou 720,31
electric power, 1,165,452,015.0
Pinghai Direct Huizhou Electric 1,370,000,000 1,347. 45% 85% Yes
power station 0
Power 00
construction
Generati
on Co.,
77
广东电力发展股份有限公司 2013 半年度报告全文
Ltd.
Guangd
ong
Shibeish
Wind power
an Wind 170,86
generation and
Power Direct Jieyang Electric 231,700,000 3,481. 70% 60% Yes 72,409,865.00 -817,341.00
power station
Develop 00
construction
ment
Co.,
Ltd.
Guangd
ong Red
Production of
Bay 2,220,
electric power, 1,060,312,757.0
Power Direct Sanwei Electric 2,749,750,000 023,38 65% 65% Yes
power station 0
Generati 6.00
construction
on Co.,
Ltd.
Other statements on Subsidiaries procured through merger of entities under common control：
78
广东电力发展股份有限公司 2013 半年度报告全文
2. Entities with special purposes or entities on which the Company has controlling power through
entrusted operation or leasing
Unit：RMB
Major business dealing with Balance of major assets and liabilities recognized in
Name
Company consolidated statement at period-end
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
Compared with the previous year, consolidated statements covered 3 new enterprises in the report period due to ...
(1) In the report period, the Company newly established a subsidiary named Guangdong Yudean Dapu Power
Generation Co., ltd., The procedures for industrial and commercial registration of establishment were settled
and Business License of Incorporated Enterprise with registration number of 44122000011855 was obtained
on January 16, 2013, From its establishment day, consolidation did not reduce in the report period
(2) In the report period, the Company newly established a subsidiary named Guangdong Yudean Huadu Natural
Gas Thermal Power Co., Ltd., holding 65% equity of this subsidiary. The procedures for industrial and
commercial registration of establishment were settled and Business License of Incorporated Enterprise with
registration number of 440121000136484 was obtained on Februry 6, 2013. From its establishment day,
consolidated financial statements cover this company.
Compared with the previous year, the scope of consolidation did not reduce in the report period.
(3)In the report period, the Company newly established a subsidiary named Guangdong Yudean Dianbai Wind
power Co., Ltd.,. The procedures for industrial and commercial registration of establishment were settled and
Business License of Incorporated Enterprise with registration number of 440923000030022 was obtained on June
20, 2013. From its establishment day, consolidated financial statements cover this company.
Compared with the previous year, the scope of consolidation did not reduce in the report period. Reason:
Inapplicable.
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
Guangdong Yudean Huadu Natural Gas Thermal
119,660,285.20 -339,714.80
Power Co., Ltd.
Guangdong Yudean Dapu Power Generation Co., ltd 300,000,000.00 0.00
Guangdong Yudean Dianbai Wind power Co., Ltd. 10,000,000.00 0.00
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
79
广东电力发展股份有限公司 2013 半年度报告全文
consolidation scope of this period.
Unit：RMB
Net profit from beginning of year
Name Net asset at day of disposal
to the date of disposal
Other statements on entities included to or excluded from the consolidation range in the report period：
(VII). Notes of consolidated financial statements
1. Currency funds
Unit：RMB
Year-end balance Year-beginning balance
Items Original Exchange Original Exchange
currency rate RMB currency rate RMB
Cash -- -- 163,933.00 -- -- 154,999.00
RMB -- -- 163,933.00 -- -- 154,999.00
Bank deposit -- -- 5,601,552,838.00 -- -- 2,813,743,538.00
RMB -- -- 5,601,542,581.00 -- -- 2,813,731,909.00
HKD 12,876.00 0.7966 10,257.00 12,875.00 0.8108 10,440.00
USD 189.00 6.2855 1,189.00
Other monetary catital -- -- 60,000,000.00 -- -- 56,866,000.00
RMB -- -- 60,000,000.00 -- -- 56,866,000.00
Total -- -- 5,661,716,771.00 -- -- 2,870,764,537.00
Accounts under pledge, restriction, or saved abroad, which are attached with potential risks, shall be stated
individually.：
Other monetary capital of RMB 60,000,000 (As at December 31, 2012: RMB 56,866,000) is the margin deposit
for security deposited by the Group to banks for issuing unconditional and irrevocable letters of guarantee.
2. Dividend receivable
Unit：RMB
Whether
Beginning of Increased this Decreased this Cause for not impairment of
Items End of term
term period period retrieved relevant amount
occurs
Dividends
receivable with
0.00 52,366,200.00 52,366,200.00
account age of less
than one year
80
广东电力发展股份有限公司 2013 半年度报告全文
Including： -- -- -- -- -- --
Dividends Recovery of
receivable from dividends in the
0.00 52,366,200.00 52,366,200.00 No
Yudean Finance third quarter is
Company expected
Including： -- -- -- -- -- --
Total 52,366,200.00 52,366,200.00 -- --
Notes
3. Interest receivable
（1）Interest receivable
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Deposit interest 605,025.00 21,327,285.00 19,219,639.00 2,712,671.00
Loan interest 1,213,470.00 10,675,131.00 11,621,848.00 266,753.00
Total 1,818,495.00 32,002,416.00 30,841,487.00 2,979,424.00
（2）Overdue interests
Unit：RMB
Loan provided by Days overdue（Day） Amount of interests overdue
（3）Statement on interest receivable
4. Account receivable
（1）Classification Account receivable :
Unit :RMB
Year-end balance Year-beginning balance
Book balance Provision for bad debts Book balance Provision for bad debts
Classification
Proportion Proportion Proportion Proportion
Amount Amount Amount Amount
（%） （%） （%） （%）
Receivables with major
individual amount and bad
3,155,420,1 3,938,096.0 3,054,325
debt provision provided 98.98% 0.12% 99.7% 3,938,096.00 0.13%
03.05 0 ,361.00
individually receivables
with major individual
81
广东电力发展股份有限公司 2013 半年度报告全文
amount and bad debt
provision provided
individually
Receivables provided bad debt provision in groups
Account receivable with
minor individual amount 32,425,844. 9,294,506
1.02% 132,344.00 0.41% 0.3% 132,344.00 1.42%
but bad debt provision is 95 .00
provided
3,187,845,9 4,070,440.0 3,063,619
Total -- -- -- 4,070,440.00 --
48.00 0 ,867.00
Category explanation of accounts receivable:
Receivable accounts with large amount individually and bad debt provisions were provided.
√Applicable □Not applicable
Unit：RMB
Proportion of
Provision for bad
Content of accounts receivable Book balance provision for bad Reason for provision
debts
debt (%)
Provision on single
Electricity charge receivable 3,132,893,992.25 3,938,096.00 0.5% item basis according
to actual situation
Full amount recovery
Steam payment receivable 10,947,640.80
is expected
Full amount recovery
Income receivable from byproduct sales 11,578,470.00
is expected
Total 3,155,420,103.05 3,938,096.00 -- --
Account receivable account in Group on which bad debt provisions were provided on age basis：
□Applicable √Not applicable
Account receivable account in Group on which bad debt provisions were provided on percentage basis：
□Applicable √Not applicable
Accounts receivable on which bad debt provisions are provided by other ways in the portfolio：
□Applicable √Not applicable
Account receivable accounts with not 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 debt rate reason
receivables
Electricity charge 15,493,385.46 Full amount recovery is
82
广东电力发展股份有限公司 2013 半年度报告全文
receivable expected
Steam payment Full amount recovery is
6,591,682.45
receivable expected
Tugboat service fee Full amount recovery is
3,010,000.00
receivable expected
Overhaul service fee Full amount recovery is
4,322,717.71
receivable expected
Income receivable from
checked and certified Full amount recovery is
1,447,116.67
volume of discharge expected
decrease
Provision on single item
Income receivable from
715,102.00 132,344.00 basis according to actual
byproduct sales
situation
Full amount recovery is
Other 845,840.66
expected
Total 32,425,844.95 132,344.00 -- --
（2）The front 5 units’ information of account receivable
Unit：RMB
Relation with the Portion in total
Name Amount Ages
Company receivables(%)
GPGC Third party 2,948,509,584.00 Within 1 year 92.61%
GPGC,Shenzhen Powe
Third party 180,446,312.00 Within 1 year 5.67%
suply Bureau
Jingdu Electric power
Third party 12,394,757.00 Within 1 year 0.39%
Compnay
Guangdong Yudean
Controlled by Yudean
Environmental protection 12,161,228.00 Within 1 year 0.38%
Group
Co., Ltd.
GPGC, Jieyang Power
Third party 7,801,174.00 Within 1 year 0.25%
Suply Bureau
Total -- 3,161,313,055.00 -- 99.3%
（3）Account due from related parties
Unit：RMB
Name of the company Relation with the company Amount Portion in total receivables(%)
83
广东电力发展股份有限公司 2013 半年度报告全文
Guangdong Yudean
Environmental Protection Co., Controlled by Yudean Group 12,161,228.00 0.38%
Ltd.
Guangdong Yudean
Group .Zhuhai Power Controlled by Yudean Group 1,850,000.00 0.06%
Generation Plant
Guangdong Yudean Grou,
Controlled by Yudean Group 832,515.00 0.03%
Shajiao Power Plan C
Guangdong Yudean Zhanjiang
Controlled by Yudean Group 838,595.19 0.03%
Biological Power Generation
Guangzhou Zhuhai Jinwan
Controlled by Yudean Group 384,315.75 0.01%
Power Generation Co., Ltd.
Total -- 16,066,653.94 0.51%
5. 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
Proportio Proportio Proportion Proportio
Amount Amount Amount Amount
n（%） n（%） （%） n（%）
Other Receivables with
major individual amount 271,309,824. 676,781,252.
95.61% 122,481.00 0.05% 94.87%
and bad debt provision 28 00
provided individually
Other Receivables provided bad debt provision in groups
Other Account receivable
with minor individual 12,465,249.7 36,591,780.0
4.39% 2,532,312.00 20.31% 5.13% 2,654,793.00 7.26%
amount but bad debt 2 0
provision is provided
283,775,074. 713,373,032.
Total -- 2,654,793.00 -- -- 2,654,793.00 --
00 00
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
84
广东电力发展股份有限公司 2013 半年度报告全文
Loan by mandate due in Full amount recovery is
95,000,000.00
one year expected
Full amount recovery is
Advance money 107,229,042.71
expected
Full amount recovery is
Deposit 1,200,000.00
expected
Full amount recovery is
Material fund 31,693,806.03
expected
Provision on single item
Reserve funds 12,632,945.67 122,481.00 2% basis according to actual
situation
Full amount recovery is
Other 23,554,029.87
expected
Total 271,309,824.28 122,481.00 -- --
Other Account receivable account in Group on which bad debt provisions were provided on age basis：
□Applicable √Not applicable
Other Account receivable account in Group on which bad debt provisions were provided on percentage basis：
□Applicable √Not applicable
Other Accounts receivable on which bad debt provisions are provided by other ways in the portfolio：
□Applicable √Not applicable
Other Account receivable accounts with not 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
Provision on single item
Reserve funds 5,871,420.33 22,398.00 1.92% basis according to actual
situation
Full amount recovery is
Material fund 350,403.97
expected
Provision on single item
Advance money 1,636,382.29 33,011.00 5.48% basis according to actual
situation
Provision on single item
Deposit 2,045,899.36 3,288.00 2% basis according to actual
situation
Provision on single item
Other 2,561,143.77 2,473,615.00 100%
basis according to actual
85
广东电力发展股份有限公司 2013 半年度报告全文
situation
Total 12,465,249.72 2,532,312.00 -- --
(2)Natures or contents of other receivable accounts with large amount
Unit：RMB
Nature or content of the
Name Amount Portion in total other receivables(%)
account
Loan by mandate due in
Weixin Yuntou Company 95,000,000.00 33.79%
one year
Guangdong Zhutou Fuel Co.,
49,720,000.00 Advance money 17.69%
Ltd.
Huidong Finance Bureau 21,318,970.00 Land fund 7.58%
Guangdong Dapeng
10,509,140.00 Other 3.74%
Liquefiednatural gas Co., Ltd.
Yudean Environmental
8,323,336.00 Material fund 2.96%
Protection Company
Total 184,871,446.00 -- 65.76%
Notes
（3）The front 5 units’ information of Other account receivable
Unit：RMB
Relation with the Portion in total other
Name Amount Ages
Company receivables (%)
Weixin Yuntou Company Associated Company 95,000,000.00 1-2 years 33.79%
Guangdong Zhutou Fuel
Third party 49,720,000.00 1-2 years 17.69%
Co., Ltd.
Huidong Finance Bureau Third party 21,318,970.00 1-2 years 7.58%
Controlled by Yudean
Wind Power group 14,978,071.00 Within 1 year 5.33%
Group
Guangdong Dapeng
Liquefied Natural gas Third party 10,509,140.00 Within 1 year 3.74%
Co., Ltd.
Total -- 191,526,181.00 -- 68.13%
86
广东电力发展股份有限公司 2013 半年度报告全文
（4）Other Account receivable from Related parties
Unit： RMB
Portion in total other receivables
Name Relation with the Company Amount
(%)
Wenxin Yuntou Company Associated Company 95,000,000.00 33.79%
Chaokang Investment Co. Ltd. Controlled by Yudean Group 220,434.00 0.08%
Guangdong Yudean
Environmental Protection Controlled by Yudean Group 16,287,767.00 5.79%
Company
Guangdong Yudean Group
Controlled by Yudean Group 1,253,261.00 0.45%
Co., Ltd., Shajiao C Plant
Guangdong Property
Controlled by Yudean Group 256,152.00 0.09%
Management Co., Ltd.
Guangdong Yudean Real
Controlled by Yudean Group 783,544.00 0.28%
estate Investment Co., Ltd.
Shaoguan Power Generation
Controlled by Yudean Group 2,880.69 0%
Plant
Total -- 113,804,038.69 40.48%
6. Prepayments
（1）Prepayments age :
Unit:RMB
End of term Beginning of term
Age Proportion Proportion
Amount Amount
（%） （%）
Within 1 year 715,247,914.00 52.7% 702,081,939.00 63.31%
1-2 years 463,851,613.00 34.18% 229,080,760.00 20.66%
2-3 years 765,134.00 0.06% 176,731,800.00 15.94%
Over 3 years 177,304,852.00 13.06% 1,118,079.00 0.1%
Total 1,357,169,513.00 -- 1,109,012,578.00 --
Notes to age of payment in advance:：
（2） The front 5 units’ information of Prepayments
Unit：RMB
87
广东电力发展股份有限公司 2013 半年度报告全文
Relation with the
Unit name Amount Time Reason of not clearing
company
Associated Company and
Guangdong Electric Fuel Purchase deposits and
Controlled by Yudean 1,183,157,592.00 2010 to 2013
Supply Co., Ltd. contract has not yet expired
Group
Guangdong Zhutou
Purchase deposits and
Electric Power Fuel Co., Third party 71,111,908.00 2013
contract has not yet expired
Ltd.
Guangshen Raiway Co.,
Ltd. Guangzhou Train Third party 19,543,636.00 2013 Prepaid Transport fee
depot
Guangzhou Port Co.,
Third party 8,821,280.00 2013 Prepaid Transport fee
Ltd. Xiji Port Branch
PICC, Shenzhen Branch Non-Related party 7,712,666.00 2013 Prepaid Insurance
Total -- 1,290,347,082.00 -- --
Statements on main receivers of prepayments：
7.Inventory
（1）Inventory types
Unit ：RMB
Year-end balance Year-beginning balance
Items Book balance Provision for Book value Book balance Provision for bad Book value
bad debts debts
Raw materials 1,128,105,460.00 1,128,105,460.00 1,029,116,360.00 1,029,116,360.00
Turnover materials 835,156,184.00 31,580,152.00 803,576,032.00 798,824,439.00 21,580,152.00 777,244,287.00
Other 27,638,257.00 27,638,257.00 32,662,344.00 32,662,344.00
Total 1,990,899,901.00 31,580,152.00 1,959,319,749.00 1,860,603,143.00 21,580,152.00 1,839,022,991.00
（2）Inventory Impairment provision
Unit： RMB
Book balance at year Amount accounted in Amount Decreased in current period Book balance at period
Type
beginning current period Transferred back Reselling end
88
广东电力发展股份有限公司 2013 半年度报告全文
Turnover materials 21,580,152.00 10,000,000.00 31,580,152.00
Total 21,580,152.00 10,000,000.00 31,580,152.00
8.Other current assets
Unit：RMB
Items End of term Beginning of term
The processing other current assets（a） 57,387,152.00 85,146,000.00
Pending Deductible VAT 1,247,696,858.00 1,427,689,627.00
Other（b） 56,895,805.00 56,792,470.00
Prepaid Income Tax 1,524,258.00 1,524,259.00
Total 1,363,504,073.00 1,571,152,356.00
Description for Other Current Assets:
（a）The Original Subsidiary-Oil Shale Electric On 20 September 2012 Entered the liquidation stage. Therefore,itisno longer
included in the consolidation scope. The oil shale power generation of company’s long-term equity investment transfer to
Yudean’s other current assets.
（b）Other current asset was mainly the balance of USD Loan drawn by Zhanjiang Wind Power (the subsidiary oftheCompany) From
the Chinese Climate Change Framework Loan Protocol signed between Department of Finance of Guangdong Province and
European Investment Bank.
9. 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 equity instruments 253,274,550.00 295,684,545.00
Total 253,274,550.00 295,684,545.00
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:
10.Long-term Receivable
Unit：RMB
Type End of term Beginning of term
Financing Rent 103,898,949.00 101,422,625.00
89
广东电力发展股份有限公司 2013 半年度报告全文
Other 258,780,000.00
Total 103,898,949.00 360,202,625.00
11. Investment to joint venture and Affiliated Enterprises
Unit：RMB
Company vote
Company right percentage in Total business
Ending total Current
Name shareholding the invested Ending total assets Ending net assets revenues at this
liabilities net profit
percentage (%) unittion of units period
(%)
I. Joint venture
Guangdong
3,247,080,433. 2,363,056,565. 9,395,469,193.
Electric Power 50% 50% 884,023,868.19 68,773,062.46
64 45 13
Fuel Co., Ltd
II. Affiliated enterprise
West 8,695,911,744. 6,662,852,771. 2,033,058,973. 2,070,955,349.
26% 26% -8,862,669.65
Investment 93 56 37 12
Linchang
49% 49% 651,685,351.71 416,264,536.53 235,420,815.18 5,534,226.36 -2,772,482.86
Yuntou
Yudean 6,447,644,839. 3,860,544,564. 2,587,100,274.
35% 35% 842,830,957.24 2,504,521.21
Shipping 04 60 45
8,153,649,333. 6,488,983,189. 1,664,666,143.
Weixin Yuntou 40% 40% 569,192,338.52 48,889,244.45
62 87 75
Huaneng
Santou Wind 25% 25% 488,640,614.32 236,153,058.94 252,487,555.38 37,653,978.07 11,313,903.95
Power
2,230,075,691. 1,837,159,632.
Shanxi Energy 40% 40% 392,916,059.04 154,246,357.73
15 11
Yudean 14,864,991,832 12,519,235,385 2,345,756,446.
25% 25% 372,169,789.18 190,816,962.49
Finance .19 .31 88
Yunnan
3,920,326,777. 3,277,049,958.
Baoshan 29% 29% 643,276,819.03 75,055,731.98 -41,162,067.92
31 28
Binlangjiang
Guangdong
Guohua
15,365,880,388 10,428,620,993 4,937,259,395. 5,309,711,621. 1,043,087,319.
Yudean Taishan 20% 20%
.85 .21 64 21 69
Power
Generation
90
广东电力发展股份有限公司 2013 半年度报告全文
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
Explainatio
n of
diffirence
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
Guangdo
ng
Guohua
Yudean
Equity 1,439,659 1,439,659 197,432,1 1,637,091
Taishan 20% 20%
method ,331.00 ,331.00 83.00 ,514.00
Power
Generatio
n Co.,
Ltd.
Guangdo
ng
Electric Equityme 380,079,1 548,487,5 -7,075,87 541,411,6 41,462,40
50% 50%
Power thod 95.00 34.00 9.00 55.00 9.00
Fuel Co.,
Ltd.
Yunnan
Baoshan 252,858,1 215,692,8 -11,937,0 203,755,8
29% 29%
Binlangj 00.00 50.00 00.00 50.00
iang
YudeanFa Equityme 500,000,0 604,378,6 -4,661,95 599,716,6 52,366,20
25% 25%
nince thod 00.00 02.00 9.00 43.00 0.00
Shanxi Equityme 400,000,0 648,012,8 61,698,54 709,711,4
40% 40%
energy thod 00.00 95.00 3.00 38.00
Huaneng Equityme 48,547,50 54,496,36 2,828,476 57,324,84 25% 25%
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广东电力发展股份有限公司 2013 半年度报告全文
Santou thod 0.00 4.00 .00 0.00
Wind
Power
WenxinY Equityme 694,000,0 694,457,2 19,555,69 714,012,9
40% 40%
untou thod 00.00 43.00 9.00 42.00
YudeanSh Equityme 863,030,0 905,835,1 -259,415. 905,575,7 1,136,000
35% 35%
ipping thod 00.00 63.00 00 48.00 .00
LincangY Equityme 122,500,0 116,849,7 -1,358,51 115,491,2
49% 49%
untou thod 00.00 41.00 7.00 24.00
Yudean
West Equityme 220,324,0 274,959,2 -3,579,93 271,379,3 1,275,637
26% 26%
Invest thod 00.00 62.00 2.00 30.00 .00
ment
Yangshan
Equityme 6,060,000 7,747,736 7,747,736
Zhongxi 40% 40%
thod .00 .00 .00
nkeng
Yangshan
Equityme 5,000,000 6,052,752 -685,569. 5,367,183 685,571.0
Jiangken 25% 25%
thod .00 .00 00 .00 0
g
South
Union Cost 30,000,00 6,000,000 24,000,00 30,000,00
10% 10%
Develop method 0.00 .00 0.00 0.00
ment
Sunshine
insurance Cost 356,000,0 356,000,0 356,000,0
5.34% 5.34%
Group Co., method 00.00 00.00 00.00
Ltd.
Guoyi
Invite
Cost 3,600,000 3,600,000 3,600,000
public 1.97% 1.97%
method .00 .00 .00
bidding
Co., Ltd.
Shenzhen
Chuang
Cost 115,000,0 115,000,0 115,000,0 12,862,50
xin 3.67% 3.67%
method 00.00 00.00 00.00 0.00
Technol
ogy
Maoming
Cost 903,707.0 903,707.0 903,707.0
Electric 15% 15%
method 0 0 0
Power
Total -- 5,437,561 5,998,133 275,956,6 6,274,089 -- -- -- 109,788,3
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广东电力发展股份有限公司 2013 半年度报告全文
,833.00 ,180.00 30.00 ,810.00 17.00
16.Investment real estate
（1）Measured by the cost of investment in real estate
Unit：RMB
Items Book amount at year Increase at this period Decrease at this period Book balance in year -end
beginning
1. Total original price 20,135,165.00 20,135,165.00
1.House, Building 20,135,165.00 20,135,165.00
II.Total accumulated
depreciation
8,660,536.00 317,800.00 8,978,336.00
accumulated
amortization
1.House, Building 8,660,536.00 317,800.00 8,978,336.00
III. Total book value
of investment real 11,474,629.00 -317,800.00 11,156,829.00
estate
1.House, Building 11,474,629.00 -317,800.00 11,156,829.00
V. Total book value of
11,474,629.00 -317,800.00 11,156,829.00
investment real estate
1.House, Building 11,474,629.00 -317,800.00 11,156,829.00
Unit：RMB
this period
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
1. Total original price 55,735,442,396.00 3,923,345,636.00 472,546,915.00 59,186,241,117.00
Including: House , Building 12,366,474,614.00 736,994,514.00 6,361,402.00 13,097,107,726.00
Machinery equipment 41,716,807,814.00 3,171,315,008.00 461,558,039.00 44,426,564,783.00
Transportations 712,040,683.00 7,970,342.00 3,233,614.00 716,777,411.00
Other 940,119,285.00 7,065,772.00 1,393,860.00 945,791,197.00
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 16,858,787,675.00 1,723,798,365.00 328,724,883.00 18,253,861,157.00
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广东电力发展股份有限公司 2013 半年度报告全文
depreciation
Including: House , Building 3,411,273,715.00 244,072,471.00 4,449,825.00 3,650,896,361.00
Machinery equipment 12,654,074,997.00 1,431,974,634.00 320,026,047.00 13,766,023,584.00
Transportations 358,392,072.00 33,755,904.00 3,047,945.00 389,100,031.00
Other 435,046,891.00 13,995,356.00 1,201,066.00 447,841,181.00
Book balance at Book balance in
-- --
year beginning year -end
III. Total book value of
38,876,654,721.00 -- 40,932,379,960.00
Fixed assets
Including: House , Building 8,955,200,899.00 -- 9,446,211,365.00
Machinery equipment 29,062,732,817.00 -- 30,660,541,199.00
Transportations 353,648,611.00 -- 327,677,380.00
Other 505,072,394.00 -- 497,950,016.00
IV. Total of Devalued
427,585,056.00 -- 435,085,056.00
Provision
Including: House , Building 84,289,158.00 -- 84,289,158.00
Machinery equipment 339,537,290.00 -- 347,037,290.00
Transportations 2,245,506.00 -- 2,245,506.00
Other 1,513,102.00 -- 1,513,102.00
V. Total book value of
38,449,069,665.00 -- 40,497,294,904.00
Fixed assets
Including: House , Building 8,870,911,741.00 -- 9,361,922,207.00
Machinery equipment 28,723,195,527.00 -- 30,313,503,909.00
Transportations 351,403,105.00 -- 325,431,874.00
Other 503,559,292.00 -- 496,436,914.00
Current depreciation is RMB 1,723,798,365.00 . The issue of fixed assets transferred from construction in progress original price is
RMB 03,844,399,091.00.
（2）Fixed assets leased by finance
Unit：RMB
Items Original book value Accumulated depreciation Net book value
Machinery equipment 4,172,900,000.00 690,515,821.00 3,482,384,179.00
（3）Fixed asset not licensed yet
Item Reason for not granted Expected date of grant
Notes:
As at June 30, 2013, real estate title certificates of the houses and buildings of some subsidiaries of the Group were still not obtained.
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广东电力发展股份有限公司 2013 半年度报告全文
After consulting the legal advisors of the Group, the management held the opinion that there was no material legal barriers for
obtaining such real estate title certificates and the handling of this matter would not have significant adverse influence on the normal
operation of the Group.
15.Project under construction
（1）Project under construction
Unit：RMB
Year-end balance Year-beginning balance
Book balance Provision Book Net value Book balance Provision for Book Net value
Items
for devaluation
devaluation
Project under construction 4,586,965,626.00 796,461.00 4,586,169,165.00 7,301,721,723.00 796,461.00 7,300,925,262.00
Total 4,586,965,626.00 796,461.00 4,586,169,165.00 7,301,721,723.00 796,461.00 7,300,925,262.00
（2）Significant changes in projects of construction-in-progress
Unit：RMB
Project Thereinto:
Amount Accumulat Current
Increase Transferre investment amount
at year Other Project ed amount Interest Capital Amount at
Name Budget at this d to fixed proportion of Current
beginnin reduction progress of interest capitalizati source year end
period assets of the
Interest
g capitalized on rate
budget
capitalized
Denitrati
on of 1#
and 2#
of 7,174,62 2,958,83 223,545, 3,182,38 941,067, 4,513,26
100% 100% 6.32% Loan 0.00
Jinghai 0,000.00 7,639.00 001.00 2,640.00 777.00 5.00
power
generatio
n units
Jinghai
352,273, 289,345, 73,649,0 362,994, 8,355,60
50KV 103.04% 100% 0.00 6.32% Loan 0.00
800.00 374.00 87.00 461.00 0.00
output
Denitrati
on of 1#
and 2#
158,000, 138,845. 52,365,9 Loan, 52,504,8
of 23.22% 23.22%
000.00 00 63.00 Self fund 08.00
Jinghai
power
generatio
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广东电力发展股份有限公司 2013 半年度报告全文
n units
#7 unit
of
Zhennen
2,474,62 1,633,26 74,467,1 1,432,61 173,624, 39,676,5 Loan, 1,706,30
g Power 68.95% 68.95% 6.61%
0,000.00 7,240.00 01.00 1.00 409.00 26.00 Self fund 1,730.00
Plant
(600MW
)
Project
of
"Constru
cting
New Big
Power
Units
While 4,960,00 1,237,55 75,385,0 167,059, 34,447,4 1,312,93
26.47% 26.47% 2.93% Loan
Closing 0,000.00 3,451.00 11.00 761.00 71.00 8,462.00
Small
Ones" of
Yuejiang
Electric
Power
(2x600M
W)
Coal-fire
d units
of Dapu
5,659,00 285,321, 26,849,4 29,462,2 3,439,00 312,171,
Power 5.52% 5.52% 5.7% Loan
0,000.00 793.00 99.00 80.00 0.00 292.00
Plant (2
*
600MW)
Project
of Bohe
9,289,24 149,779, 126,208, 5,530,60 712,833. Loan, 275,987,
units 2.97% 2.97% 5.9%
0,000.00 038.00 363.00 4.00 00 Self fund 401.00
(1000M
W)
Expansio
n project
of units
7,789,51 128,565, 7,968,53 136,533,
of 1.75% 1.75 % Self fund
0,000.00 334.00 0.00 864.00
Humen
Power
Plant
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广东电力发展股份有限公司 2013 半年度报告全文
(2×1000
MW)
Xuwen
wind
4,796,99 12,897,1 11,112,8 24,009,9
power 0.5% 0.50 % Self fund
0,000.00 28.00 30.00 58.00
generatio
n project
Denitrati
on of
352,000, 44,690,7 40,213,5 58,500,0 26,404,2
Shajiao 41.17% Self fund
000.00 41.00 20.00 00.00 41.17 % 61.00
A Power
Plant
Denitrati
on works
of #1
unit and
195,000, 215,429. 6,385,96 Loan, 6,601,39
#2 unit 3.39% 3.39%
000.00 00 4.00 Self fund 3.00
of Red
Bay
Compan
y
Technolo
gy
improve 561,109, 415,968, 239,089, 4,476,49 733,512,
Self fund
mentech 711.00 616.00 379.00 1.00 457.00
nology
and other
43,201,2
7,301,72 1,134,11 3,844,39 4,476,49 1,325,10 82,789,0 4,586,96
Total 53,800.0 -- -- -- --
1,723.00 9,485.00 9,091.00 1.00 0,431.00 95.00 5,626.00
0
Statements on change of construction-in-progress：
（3）Impairment Provisions of Construction in progress
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term Reason to provide
Improvem old
building of
796,461.00 796,461.00
Zhanjiang Electric
Power Company
Total 796,461.00 796,461.00 --
（4）Major projects under construction
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广东电力发展股份有限公司 2013 半年度报告全文
Items Project progress Notes
Denitration of 1# and 2# of Jinghai power
23.22%
generation units
#7 unit of Zhenneng Power Plant
68.95%
(600MW)
Project of "Constructing New Big Power
Units While Closing Small Ones" of 26%
Yuejiang Electric Power (2x600MW)
Coal-fired units of Dapu Power Plant (2 *
5.52%
600MW)
Project of Bohe units (1000MW) 2.97%
Expansion project of units of Humen
1.75 %
Power Plant (2×1000MW)
Xuwen wind power generation project 0.50 %
Denitration of Shajiao A Power Plant 41.17 %
Denitration works of #1 unit and #2 unit of
3.39%
Red Bay Company
（5）Statement on projects under construction
The project progress of major projects under construction based on June 30, 2013 should be assessed on the basis of the completed
projects quantity.
19.Engineering Material
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Spectial equipment 302,948,334.00 6,839,203.00 9,473,649.00 300,313,888.00
Tools 177,452.00 456,766.00 634,218.00
Total 303,125,786.00 7,295,969.00 9,473,649.00 300,948,106.00
Statement on project material：
17.Liquidation of fixed assets
Unit：RMB
Items Beginning book value Eng book value Reason of liquidation
Removed for technical
Power generation equipment 1,462,082.00 83,976,826.00
transformation and not yet
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广东电力发展股份有限公司 2013 半年度报告全文
disposed
Total 1,462,082.00 83,976,826.00 --
Progress of fixed assets turn to be liquidated for over one year
23. Intangible assets
（1）Intangible assets
Unit：RMB
Items Book Balance in Book Balance in
Increase at this period Decrease at this period
year-begin year-end
1. Total original price 1,804,781,375.00 5,410,569.00 364,993.00 1,809,826,951.00
Software 46,043,329.00 5,285,569.00 364,993.00 50,963,905.00
Land use rights 1,190,724,723.00 125,000.00 1,190,849,723.00
Non-patent eechnology 110,290.00 110,290.00
Franchise right 13,804,736.00 13,804,736.00
Sea use right 89,111,941.00 89,111,941.00
Electric transmission project
442,517,684.00 442,517,684.00
and microwave project
Transportation project 22,468,672.00 22,468,672.00
II. Total amount of
588,274,462.00 22,828,253.00 3,042.00 611,099,673.00
accumulated
Software 33,459,511.00 2,975,754.00 3,042.00 36,432,223.00
Land use rights 123,495,437.00 12,990,070.00 136,485,507.00
Non-patent eechnology 1,838.00 11,029.00 12,867.00
Franchise right 5,179,162.00 483,071.00 5,662,233.00
Sea use right 9,270,089.00 886,462.00 10,156,551.00
Electric transmission project
395,920,309.00 5,299,400.00 401,219,709.00
and microwave project
Transportation project 20,948,116.00 182,467.00 21,130,583.00
III. Book value of
1,216,506,913.00 -17,417,684.00 361,951.00 1,198,727,278.00
intangible assets
Software 12,583,818.00 2,309,815.00 361,951.00 14,531,682.00
Land use rights 1,067,229,286.00 -12,865,070.00 1,054,364,216.00
Non-patent eechnology 108,452.00 -11,029.00 97,423.00
Franchise right 8,625,574.00 -483,071.00 8,142,503.00
Sea use right 79,841,852.00 -886,462.00 78,955,390.00
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广东电力发展股份有限公司 2013 半年度报告全文
Electric transmission project
46,597,375.00 -5,299,400.00 41,297,975.00
and microwave project
Transportation project 1,520,556.00 -182,467.00 1,338,089.00
IV.Total value of provision
23,426,500.00 23,426,500.00
for impairment
Software
Land use rights
Non-patent eechnology
Franchise right
Sea use right
Electric transmission project
23,426,500.00 23,426,500.00
and microwave project
Transportation project
V. Total of Book value of
1,193,080,413.00 -17,417,684.00 361,951.00 1,175,300,778.00
intangible assets
Software 12,583,818.00 2,309,815.00 361,951.00 14,531,682.00
Land use rights 1,067,229,286.00 -12,865,070.00 1,054,364,216.00
Non-patent eechnology 108,452.00 -11,029.00 97,423.00
Franchise right 8,625,574.00 -483,071.00 8,142,503.00
Sea use right 79,841,852.00 -886,462.00 78,955,390.00
Electric transmission project
23,170,875.00 -5,299,400.00 17,871,475.00
and microwave project
Transportation project 1,520,556.00 -182,467.00 1,338,089.00
The amortization amount is RMB 22,828,253.00.
19. Deferred income tax assets/Deferred income tax liabilities
(1）Recognized deferred income tax assets and deferred income tax liabilities
The netting balances of deferred tax assets and liabilities after offsetting
Unit：RNB
Temporarily Temporarily
Deferred Income Tax Deferred Income Tax
Deductable or Deductable or
Assets or Liabilities Assets or Liabilities
Items Taxable Difference at Taxable Difference at
at the End of Report at the Beginning of
the End of Report the Beginning of
Period Report Period
Period Report Period
Deferred income tax assets： 50,080,294.00 215,446,603.18 76,814,134.00 322,379,839.00
Deferred income tax liability： 9,262,365.00 37,049,461.00 2,057,101.00 8,228,404.00
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广东电力发展股份有限公司 2013 半年度报告全文
Details of taxable differences and deductible differences
Unit ：RMB
Items Offsetting Amounts of This Period
The changes of capital government subsidies
(assets) and the fair value of an available-for-sale
386,483.95
financial assets recognized in the capital reserves of
headquarters
The offsetting between the deductable losses
(assets) and the depreciation differences (liabilities)
730,309.92
resulted from the commissioning costs of Zhenneng
Thermoelectricity
The offsetting between the deductable losses
(assets) and the depreciation differences (liabilities)
4,342,281.48
resulted from the commissioning costs of Zhongyue
Energy
Details of taxable differences and deductible differences
20.Detail of asset impairment provision
Unit： RMB
Balance of book Decrease at this period Balance of book
Increase at this
Items value at beginning Withdrawal Transfer in value at end of
period
of term amount in this term
1. Bad debt provision 6,725,231.00 6,725,231.00
2 Inventory impairment
21,580,152.00 10,000,000.00 31,580,152.00
provision
7.Fixed asset impairment
427,585,056.00 7,500,000.00 435,085,056.00
provision
9. Construction in process
796,461.00 796,461.00
impairment provision
12. Intangible asset
23,426,500.00 23,426,500.00
impairment provision
Total 480,113,400.00 17,500,000.00 497,613,400.00
Statement on details of asset impairment：
28.Other non-current assets
Unit：RMB
Items At end of term At beginning of term
101
广东电力发展股份有限公司 2013 半年度报告全文
Prepay equipment funds 319,505,439.00 87,647,780.00
Unrealized loss of sale and leaseback 357,401,793.00 367,000,746.00
Prepay project funds 102,000,000.00
Total 676,907,232.00 556,648,526.00
Statement on other non-recurring assets
22. Short-term borrowings
（1）Categories of short-term loans
Unit:RMB
Items At end of term At beginning of term
Pledged loan 148,000,000.00
Guarantee loan 10,756,268,375.00 13,425,100,000.00
Total 10,756,268,375.00 13,573,100,000.00
Statement on categories of short-term loans：
(a) As at 30 June 2013，Unsecured borrowings amounted to RMB 3,517,000,000.00 is from Yudean Finance (31
December 2012)RMB5,188,000,000), Unsecured borrowings amounted to RMB 500,000,000.00 is from
Chaokang Company (31 December 31,2012:RMB200,000,000)
(b)As of June 30, 2013, There are no overdue short-term borrowings.
23.Bills payable
Unit：RMB
Type At end of term At beginning of term
Commercial acceptance 260,000,000.00 300,000,000.00
Bank acceptance 1,737,303,196.00 1,008,493,869.00
Total 1,997,303,196.00 1,308,493,869.00
Amount due in next fiscal period is RMB 1,997,303,196.00.
Statement on Bills payable：
24 Account payable
（1）Account payable
Unit：RMB
Items At end of term At beginning of term
Fuel payable 3,205,766,232.00 2,797,342,980.00
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广东电力发展股份有限公司 2013 半年度报告全文
Materials payable 339,538,917.00 311,826,687.00
Construction and equipment payable 104,968,655.00 95,314,206.00
Other 49,730,062.00 29,214,912.00
Total 3,700,003,866.00 3,233,698,785.00
（2）Statement on payable accounts due for over one year
As of June 30, 2013, the balance with ageing over than one year is RMB66,890,725.64( December 31, 2012:,
69,280,588)and it is mainly represent payables to materials and business bear cost.
25. Received in advance
（1）Received in advance
Unit：RMB
Items At end of term At beginning of term
Received in advance 5,411,690.00 1,142,996.00
Total 5,411,690.00 1,142,996.00
26. Employee salary of payable
Unit: RNB
Items Book Balance in Increase in the current Decrease in the current period Book Balance in
year-begin period year-end
1.Wages, bonuses,
allowances and 10,979,753.00 453,009,941.00 390,767,651.00 73,222,043.00
subsidies
2.Employee welfare 11,314,879.00 40,203,204.00 40,707,412.00 10,810,671.00
3. Social insurance
18,555,868.00 116,108,490.00 113,845,461.00 20,818,897.00
premiums
Including：1.. basic
137,510.00 12,221,348.00 12,188,400.00 170,458.00
Medical insurance
2.Supplement
16,698,457.00 9,203,841.00 6,914,058.00 18,988,240.00
Medical insurance
3. Basic old-age
insurance 1,198,792.00 64,677,395.00 64,749,021.00 1,127,166.00
premiums
4.Enterprise Annual
23,384,902.00 23,384,902.00
Fund
103
广东电力发展股份有限公司 2013 半年度报告全文
5. Unemployment
521,109.00 2,103,946.00 2,097,047.00 528,008.00
insurance
6. Work injury
3,145,956.00 3,144,171.00 1,785.00
insurance
7. Maternity
1,371,102.00 1,367,862.00 3,240.00
insurance
IV. Public reserves
32,433.00 75,997,928.00 75,997,928.00 32,433.00
for housing
V. .Refuse welfare 97,704,076.00 276,260.00 10,673,212.00 87,307,124.00
VI.Other 47,933,310.00 26,451,654.00 20,827,054.00 53,557,910.00
Total 186,520,319.00 712,047,477.00 652,818,718.00 245,749,078.00
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 RMB47,330,590.00, the amounts of
non-monetary benefits are RMB0, and the compensations for the lifting of labor relations is 87,307,124.00
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
2013, the social insurances and the housing funds will be turned in to the relevant government departments in 2013,
and the welfare benefits of early retirement staff are expected to give and use up one by one before 2033.
27. Tax Payable
Unit：RMB
Items At end of term At beginning of term
VAT 155,126,367.00 63,124,657.00
Business Tax 1,603,172.00 2,716,791.00
Enterprise Income tax 328,138,782.00 385,076,861.00
Individual Income tax 5,811,556.00 36,487,399.00
City Construction tax 8,219,278.00 12,534,868.00
House tax payable 5,480,584.00 14,004,415.00
Land use right tax 3,051,917.00 9,881,416.00
Educational surcharge 6,285,739.00 8,689,164.00
Other 12,078,131.00 17,816,409.00
Total 525,795,526.00 550,331,980.00
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.
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广东电力发展股份有限公司 2013 半年度报告全文
28. Interest Payable
Unit：RMB
Items At end of term At beginning of term
Long-term loans interest of installment and interest
112,624,799.00 30,193,168.10
charge
Debenture interest 57,681,084.00 89,205,479.00
Short term loan interest payable 73,946,305.00 24,297,468.90
Total 244,252,188.00 143,696,116.00
Statement on interest payable：
29.Dividend payable
Unit：RMB
Reason for payment failure for over
Company name Ending balance Beginning balance
a year
Temporary nonpayment because
Common shareholder 7,628,640.00 7,558,762.00 share holding structure reform was
not implemented
As approved by resolution of the
board of directors of Yuejiang
Shaoguan D Power Generation Plant Electric Power, Yuejiang Electric
3,521,191.00 3,521,190.00
Co., Ltd. Power will arrange the payment of
such dividends according to its
fund demand.
As approved by resolution of the
board of directors of Yuejiang
Shaoguan Qujiang District Public Electric Power, Yuejiang Electric
1,408,476.00 1,408,476.00
Asset Management Center Power will arrange the payment of
such dividends according to its
fund demand.
Guangdong Qichuang Investment
72,808,089.00
Development Co., Ltd.
Huilai Coastal Electric Investment
29,123,236.00
Co., Ltd.
Total 114,489,632.00 12,488,428.00 --
Statement on interest payable：
105
广东电力发展股份有限公司 2013 半年度报告全文
30.Other Payable
（1） Other Payable
Unit：RMB
Name At end of term At beginning of term
Performance guarantee deposits from construction 472,145,438.00 483,351,062.00
Construction and equipment payable 2,757,323,862.00 2,732,457,873.00
Volume Purchase payable 106,507,200.00 137,560,800.00
Advance from shaoguan Electric Power plant 30,184,898.00 26,228,082.00
Other 144,036,340.00 77,203,385.00
Total 3,510,197,738.00 3,456,801,202.00
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;
Unit：RMB
Name At end of term At beginning of term
（3）Statement on large amount other payable accounts due for over one year
As of June 30, 2013 the balances with ageing over one year amounted to RMB1,232,597,367.05 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
31.Estimated liabilities
Unit：RMB
Items Beginning of term Increased this term Decreased this term End of term
Statement on anticipated liabilities：
32. Non-current liabilities due within one year
（1）Non-current liabilities due within one year
Unit：RMB
106
广东电力发展股份有限公司 2013 半年度报告全文
Name At end of term At beginning of term
Long-term loans due in 1 year 1,178,140,000.00 1,032,550,000.00
Long-term payable due in 1 year 771,148,355.00 817,650,316.00
Total 1,949,288,355.00 1,850,200,316.00
（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 114,020,000.00 171,030,000.00
Pledged loan 80,000,000.00 200,000,000.00
Credit loan 984,120,000.00 661,520,000.00
Total 1,178,140,000.00 1,032,550,000.00
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
Year-end balance Year-beginning balance
Loans Loans ending Interest rate Amount of Amount of Amount of Amount of
Loan unit Currency
starting date date (%) Foreign RMB Foreign RMB
currency currency
China
March 1, February 28, 460,000,000. 470,000,000.
Constrcution RMB 5.54%
2011 2014 00 00
Bank
Agricaultural December 3, 111,000,000. 111,000,000.
June 5, 2014 RMB 5.9%
Bank of China 2007 00 00
Bank of
March 31, March 31, 100,000,000. 100,000,000.
Communicati RMB 6.15%
2011 2014 00 00
ons
December 87,060,000.0 130,590,000.
Bank of China June 21, 2020 RMB 5.89%
21, 2005 0 00
Yudean
December December 50,000,000.0 50,000,000.0
Finance RMB 5.76%
18, 2008 17, 2013 0 0
Company
808,060,000. 861,590,000.
Total -- -- -- -- -- --
00 00
107
广东电力发展股份有限公司 2013 半年度报告全文
Overdue loans among the long-term loan due in 1year：
Unit：RMB
Annual interest Reason for Scheduled
Loan provided by Total amount Date of mature Usage of loan
rate(%) overdue repaying date
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
Date of Issuing payable at Interest paid payable at End of
Bond Face value Bond term occurred
issue amount beginning this period end of balance
this period
of period period
Statement on bond payable due in 1 year：
（4）Long-term payable account due in 1 year
Unit：RMB
Loans from Term Initial amount Interest rate(%） Interest payable End balance Condition
Jinghai Power
Within 1 year 1,000,000,000.00 5.85% 43,783,055.00 131,653,162.00 Financing leasing
Generation
Jinghai Power
Within 1 year 600,000,000.00 7.05% 29,953,175.00 120,285,651.00 Financing leasing
Generation
ZhongyueEnergy Within 1 year 900,000,000.00 6.19% 39,200,986.00 81,303,666.00 Financing leasing
Yuejiang Power
Within 1 year 619,500,000.00 5.54% 20,147,711.00 203,453,236.00 Financing leasing
Generation
Red Bay Within 1 year 1,000,000,000.00 6.08% 33,807,800.00 234,452,640.00 Financing leasing
Statement on long-term payable due in 1 year：
33.Other current liabilities
Unit：RMB
Items Year-end balance Year-Beginning balance
Short-term Financing bonds 1,313,418,889.00
Total 1,313,418,889.00
Statement of other current liabilities：
108
广东电力发展股份有限公司 2013 半年度报告全文
34. Long-term loan
（1）Long-term loans classifications
Unit：RMB
Items Year-end balance Year-Beginning balance
Loan by pledge 277,860,000.00 277,860,000.00
Pledged loan 603,600,000.00 701,600,000.00
Credit loan 13,608,963,344.00 13,627,102,700.00
European Investment Bank loan 179,765,036.00 179,765,036.00
Total 14,670,188,380.00 14,786,327,736.00
As regards long-term loans classifications：
（2）The top five of long-term loans
Unit：RMB
Year-end balance Year-beginning balance
Loans Loans ending Interest rate Amount of Amount of Amount of Amount of
Loan unit Currency
starting date date (%) Foreign RMB Foreign RMB
currency currency
Agricultural
December 3, December 3, 1,831,500,00 1,887,000,00
Bank of RMB 5.9%
2007 2025 0.00 0.00
China
China
January 13, December 1,126,000,00 1,196,000,00
Construction RMB 5.96%
2006 31, 2021 0.00 0.00
Bank
Bank of
1,200,000,00
Communicati June 6, 2013 June 5, 2012 RMB 6.15%
0.00
ons
November 1,050,000,00 1,050,000,00
Bank of China July 14, 2031 RMB 6.35%
26, 2010 0.00 0.00
Yudean December 5, December 5, 825,000,000. 850,000,000.
RMB 5.9%
Finance 2007 2025 00 00
6,032,500,00 4,983,000,00
Total -- -- -- -- -- --
0.00 0.00
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.
109
广东电力发展股份有限公司 2013 半年度报告全文
43.Bond payable
Unit：RMB
Interest Interest
Interest
Date of Issuing payable at Interest paid payable at
Bond Face value Bond term occurred End balance
issue amount beginning this period end of
this period
of period period
The
Company
Bonds of
Guangdong
2,000,000,0 March 10, 2,000,000,0 89,205,479. 54,999,988. 110,000,000 34,205,467. 1,994,763,5
Electric 7 years
00.00 2008 00.00 00 00 .00 00 51.00
Power
Developme
nt Co., Ltd.
In 2008
The
Company
Bonds of
Guangdong
1,200,000,0 March 1,200,000,0 17,160,000. 17,160,000. 1,193,689,5
Electric 7 years
00.00 18,2013 00.00 00 00 24.00
Power
Developme
nt Co.,
Ltd. In 2013
Statement on bonds payable, including the condition and time of converting of the convertible bonds：
36.Long-term payable
（1）Top 5 long-term payable
Unit：RMB
Name Term Initial amount Interest rate（%） Interest payable End balance Condition
Jinghai Power
10 years 1,000,000,000.00 5.85% 23,811,262.00 679,306,415.00 Financing leasing
Generation
Jinghai Power
6 years 600,000,000.00 7.05% 17,438,313.00 361,441,337.00 Financing leasing
Generation
ZhongyueEnergy 10 years 600,000,000.00 6.19% 13,187,066.00 403,062,827.00 Financing leasing
110
广东电力发展股份有限公司 2013 半年度报告全文
Yuejiang Power
3 years 300,000,000.00 5.54% 7,991,245.00 156,359,492.00 Financing leasing
Generation
Red Bay 5 years 1,000,000,000.00 6.08% 21,534,902.00 306,989,239.00 Financing leasing
（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
Yuejiang Power Generation 286,687,030.00 372,097,705.00
Jinghai Power Generation 1,040,747,752.00 1,125,032,945.00
Zhongyue Energy 615,853,675.00 615,853,675.00
Red Bay 306,989,239.00 402,680,657.00
Total 2,250,277,696.00 2,515,664,982.00
Guarantee provided by the 3rd party for the leasing finance is amounted to RMB0.
Statement on long-term payables：
37.Special payable
Unit：RMB
Beginning of Increased this Decreased this
Items End of term Remarks
term term term
Subsidiary Shibeishan Wind
Power Company Wind 16,904,604.00 1,896,443.00 15,008,161.00
migration project
Total 16,904,604.00 1,896,443.00 15,008,161.00 --
Statement on special payable accounts：
38.Other Non-current liabilities
Unit：RMB
Items Year-end balance Year-beginning balance
Port and port construction fees（a） 2,821,728.00 2,395,385.00
Flow modification and expansion project（b） 5,610,000.00 5,610,000.00
Energy saving（c） 509,435.00 600,000.00
Denitration Project of 5# of Shajiao A Power Plant
2,000,000.00
（d）
111
广东电力发展股份有限公司 2013 半年度报告全文
Denitration Project of 5# of Shajiao A Power Plant
16,923,077.00 18,461,539.00
（e）
Proceeds of sale and leaseback financing fixed ass
24,844,540.00 29,898,929.00
ets（f）
Competition Fund of State-owned Assets
12,000,000.00 12,000,000.00
Regulatory Commission（g）
Water-freshing project（h） 1,846,154.00 1,846,154.00
The refund of VAT received due to purchasing
31,517,767.00 31,517,767.00
homemade equipment.（i）
Total 98,072,701.00 102,329,774.00
Statement on other non-current liabilities, including asset-related and income-related government subsidy and closing balances:
(a) It is the construction fund received by Shajiao A Power Plant in the report year, which was appropriated for
the construction of Humen Port. According to relevant regulations, the port authority shall first collect port charge
in respect of imported and exported goods and containers loaded or unloaded at the port and then return 50% of
port charge for the maintenance of wharves and forefront water area. The government shall refund port
construction expenses on quarterly basis. The Group shall write it off when repair expenses are incurred;
(c) It is the special appropriation for energy saving received by Shajiao A Power Plant in the report year for the
increase of rubber ball cleaning unit for the condenser of #5 unit. On June 30, 2013, the Group did not complete the
construction of this project. Therefore, no amortization was conducted.
(d) It is the special appropriation received by Shajiao A Power Plant in the report year for the project of nitrogen
reduction and denitration. On June 30, 2013, the Group did not complete the construction of this project. Therefore,
no amortization was conducted.
(e) It is the fund appropriated by Guangdong Finance Department through Yuedian Group Company in 2005,
which was exclusively used for the desulfuration work of #5 unit of Shajiao A Power Plant, a branch company of
the Company. The Group averagely amortized this subsidy income over estimated useful life of relevant assets,
i.e., 13 years, from the completion day of the work;
(f) It is the difference between the selling price of generating equipment leased back after sales and its book value,
being the balance after amortization according to the depreciation progress of the generating equipment leased
back after sales;
(g) It is the special reform and development fund received by Zhanjiang Wind Energy in 2011, which has not been
amortized due to being related to long-term income.
(h) It is the fund appropriated by Zhanjiang Government exclusively for the fresh water work of Zhongyue Energy.
The Group averagely amortized this subsidy income over estimated useful life of relevant assets, i.e., 13 years,
from the completion day of the work;
(i) It is the refund of value added tax received by Shibeishan Wind Energy due to purchasing homemade
equipment. The Group averagely amortized this governmental subsidy over estimated remaining useful years of
relevant assets, i.e., 13 years;
39. .Stock capital
Unit：RMB
Balance Increase/decrease this time (+ , - ) Balance
Year-beginning Issuing of new Bonus shares Transferred Other Subtotal year-end
112
广东电力发展股份有限公司 2013 半年度报告全文
share from reserves
Total of capital 4,375,236,655. 4,375,236,655.
shares 00 00
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.
40.Shares in stock
Statement on share in stock
41.Special reserves
Statement on special reserves
42. Capital reserves
Unit：RMB
Items Year-beginning balance Increase in the current Decrease in the Year-end balance
period current period
Share premium 4,455,652,497.00 4,455,652,497.00
Other capital reserves 1,601,300.00 1,601,300.00
Change in fair value of
available-for-sale 32,966,949.00 31,807,496.00 1,159,453.00
financial assets
Transfer from the balance of
capital surplus
20,474,592.00 20,474,592.00
recognised under previous
accounting
Investment from Yudean Group 395,000,000.00 395,000,000.00
Estimate Increase 119,593,718.00 119,593,718.00
Total 5,025,289,056.00 31,807,496.00 4,993,481,560.00
Statement on capital reserves：
43. Surplus reserve
Unit ：RMB
Items Year-beginning balance Increase in the current Decrease in the current Year-end balance
113
广东电力发展股份有限公司 2013 半年度报告全文
period period
Statutory surplus reserve 1,603,194,865.00 70,857,902.00 1,674,052,767.00
Optional surplus reserves 2,352,373,753.00 177,144,757.00 2,529,518,510.00
Total 3,955,568,618.00 248,002,659.00 4,203,571,277.00
Statement on surplus reserves. Please state the related resolutions of the Board on capitalizing of reserves, making up losses, and
dividends：
44. Retained profits
Unit：RMB
Percentage of drawing or
Items Amount
allocation
Before adjustments: Retained profits at the
2,899,227,999.00 --
period end
Adjustments: Total retained profits at the period
2,899,227,999.00 --
beginning
（+，-）
Add：Net profit belonging to the owner of the
1,357,484,280.00 --
parent company
Less：Drawing statutory surplus reserve 70,857,903.00 10%
Drawing discretionary surplus reserve 177,144,756.00 25%
Payable dividends of common shares 306,266,566.00
Retained profits at the period end 3,702,443,054.00 --
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.
114
广东电力发展股份有限公司 2013 半年度报告全文
45. Business income, Business cost
（1）Business income, Business cost
Unit： RMB
Items Amount of current period Amount of previous period
Income from Business income 14,459,447,415.00 14,396,202,898.00
Other Business income 87,580,057.00 101,620,683.00
Business cost 11,025,868,327.00 12,182,528,843.00
（2）Main business（Industry）
Unit：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Generate electricity 14,409,858,983.00 10,949,388,014.00 14,341,214,244.00 12,112,135,201.00
Supply of heat 36,352,088.00 30,989,583.00 40,317,167.00 33,568,281.00
Labour service 13,236,344.00 11,052,171.00 14,671,487.00 16,131,922.00
Total 14,459,447,415.00 10,991,429,768.00 14,396,202,898.00 12,161,835,404.00
（3）Main business（Production）
Unit ：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Power sales 14,409,858,983.00 10,949,388,014.00 14,341,214,244.00 12,112,135,201.00
Heat supply 36,352,088.00 30,989,583.00 40,317,167.00 33,568,281.00
Provide labor service 13,236,344.00 11,052,171.00 14,671,487.00 16,131,922.00
Total 14,459,447,415.00 10,991,429,768.00 14,396,202,898.00 12,161,835,404.00
（4）Main Business（Area）
Unit：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Guangdong 14,459,447,415.00 10,991,429,768.00 14,396,202,898.00 12,161,835,404.00
Total 14,459,447,415.00 10,991,429,768.00 14,396,202,898.00 12,161,835,404.00
（5）Total income and the ratio of operating income from top five clients
115
广东电力发展股份有限公司 2013 半年度报告全文
Unit：RMB
Name Business Income Proportion(%)
GPGC 13,665,532,702.00 93.94%
GPGC,Shenzhen SupplyPower
656,215,661.00 4.51%
Bureau
GPGC,Jieyang SupplyPower
34,044,496.00 0.23%
Bureau
GPGC,Zhanjiang SupplyPower
54,066,125.00 0.37%
Bureau
Huizhou Huiling Huacheng Co.,
31,155,486.00 0.21%
Ltd.
Total 14,441,014,470.00 99.26%
Statement on operating income
46. Revenue from the construction contracts
Unit：RMB
Accumulated gross
Fixed price contract Contract project Amount Accumulated costs profits（“-” means Settled amount
losses )
Accumulated gross
Cost-plus contract Contract project Amount Accumulated costs profits（“-” means Settled amount
losses )
Statement on Contact Items：
47. Business taxes and surcharges
Unit：RMB
Amount of current period Amount of previous
Items Project payment standard
period
Business tax 1,921,755.00 2,150,456.00 Taxable turnover, 5% and 3%.
City maintenance and construction Actually paid value added tax and
51,658,693.00 28,880,807.00
tax business tax, 5% and 7%.
Actually paid value added tax and
Surcharge for education 46,553,229.00 26,070,737.00
business tax, 3 and 2%.
Total 100,133,677.00 57,102,000.00 --
Statement on Business taxes and surcharges：
116
广东电力发展股份有限公司 2013 半年度报告全文
48.Selling expenses
Unit：RMB
Items Amount of current period Amount of previous period
Sales expenses 1,753,357.00 956,644.00
Total 1,753,357.00 956,644.00
49. Administrative expenses
Unit：RMB
Items Amount of current period Amount of previous period
Employee’s remuneration 150,317,543.00 147,779,501.00
Depreciation expenses 23,694,383.00 19,731,865.00
Repair expenses 4,828,049.00 2,602,841.00
Office expenses 6,649,372.00 7,892,515.00
Insurance 2,025,435.00 1,221,567.00
Travel expenses 4,016,178.00 5,102,010.00
Board of directors 2,648,746.00 2,996,449.00
Customers 9,629,076.00 12,307,862.00
Lowsuit expenses 1,895,738.00 1,018,678.00
Amortiation of Intangible assets 22,825,211.00 18,770,749.00
Effluent charges 28,162,994.00 32,162,290.00
Consulting fee 2,102,357.00 1,328,495.00
Agency Charge 8,126,935.00 6,825,979.00
Tax fee 52,031,006.00 42,773,123.00
Property Management 11,004,037.00 8,143,742.00
Fireman’s charge 13,153,896.00 12,817,633.00
Embankment protection fees 10,040,087.00 9,853,377.00
Health afforestation fees 7,237,013.00 4,551,032.00
Other 40,982,779.00 43,151,896.00
Total 401,370,835.00 381,031,604.00
50.Financial expenses
Unit：RMB
Items Amount of current period Amount of previous period
117
广东电力发展股份有限公司 2013 半年度报告全文
Interest expenses 997,545,951.12 972,445,417.61
Interest income -21,327,285.00 -28,810,517.00
Other 7,111,906.88 6,901,635.39
Total 983,330,573.00 950,536,536.00
51 Income from fair value fluctuation
Unit：RMB
Source of income from fluctuation of fair value Occurred current term Occurred in previous term
Statement on Income from fair value fluctuation：
52. Investment income
（1）Income from investment
Unit：RMB
Items Amount of current period Amount of previous period
Long-term equity investment income by costing 12,862,500.00 14,681,250.00
Long-term equity investment income by equity
348,882,444.00 127,642,527.00
method
Hold the investment income which gained from the
9,764,014.00 13,897,780.00
transactional financial assets
Hold the investment income during from
7,503,870.00 6,393,225.00
available-for-sale financial assets
Other 342,586.00 342,586.00
Total 379,355,414.00 162,957,368.00
（2）long-term equity investment gains on cost basis
Unit ：RMB
Occurred in previous
Company Occurred current term Causation of change
term
Shenzhen Chuangxin Technology Increase in assigned dividend investme
12,862,500.00 13,781,250.00
Investment Co., Ltd. nt unit
Guoyi Invitepublic bidding Holding Increase in assigned dividend investme
900,000.00
Co.,Ltd. nt unit
Total 12,862,500.00 14,681,250.00 --
118
广东电力发展股份有限公司 2013 半年度报告全文
（3）Long-term equity investment gains on equity basis
Unit：RMB
Occurred in previous
Company invested in Occurred current term Causation of change
term
Guangdong Guohua Yuedian Taishan Assets were newly purchased at the
197,432,184.00 0.00
Power Generation Co., Ltd. end of previous year
Guangdong Power Industry Fuel Co., The earnings of the invested company
34,386,531.00 25,866,210.00
Ltd. increased
Investment income of the invested
Shanxi Yuedian Energy Co., Ltd. 61,698,543.00 67,496,318.00
company somewhat decreased
The earnings of the invested company
Guangdong Yudean Finance Co., Ltd. 47,704,241.00 43,722,378.00
increased
The invested company did not start
Weixin Yuntou Yuedian Zhaxi Energy
19,555,698.00 0.00 production in the same period of
Co., Ltd.
previous year
Total 360,777,197.00 137,084,906.00 --
Statement on investment gains, please state whether or not there are material constrains on retrieving of investment gains.：
53. .Loss of assets impairment
Unit： RMB
Name Amount of current period Amount of previous period
2．Loss for falling price of Inventory 10,000,000.00
7．loss for devaluation of fixed assets 7,500,000.00
Total 17,500,000.00
54. Non-operating income
（1） Non-operating income
Unit：RMB
Items Amount of current period Amount of previous period Amount recorded in current
non-operating gains and
losses\
Total income from liquidation of
38,922.00 42,366,939.00 38,922.00
non-current assets
Including：Income from liquidation of
38,922.00 42,366,939.00 38,922.00
fixed asset
119
广东电力发展股份有限公司 2013 半年度报告全文
Government Subsidy 8,677,089.00 4,623,146.00 8,677,089.00
Other 13,328,992.00 8,393,234.00 13,328,992.00
Total 22,045,003.00 55,383,319.00 22,045,003.00
（2）Government subsidy list
Unit：RMB
Items Amount of current period Amount of previous Notes
period
Income of levy and refund of VAT 1,846,628.00 1,698,185.00
Amortization of Government Subsi
1,538,461.00 1,538,461.00
dy
River seawall reinforcement grants 1,700,000.00 1,186,500.00
Energy conservation Subsidy 2,370,000.00
Other 1,222,000.00 200,000.00
Total 8,677,089.00 4,623,146.00 --
Statement on Non-operating income
55. Non-operating expenses
Unit：RMB
Items Amount of current period Amount of previous Amount recorded in
period current non-operating
gains and losses\
Total Disposal of loss of non-current assets 190,368.00 27,562.00
Including：Disposal of net loss of fixed assets 190,368.00 26,133.00
Other 1,001,914.00 1,203,848.00 -1,191,923.00
Total 1,192,282.00 1,231,410.00 1,191,923.00
Statement on non-operational expenditures：
56. .Income tax expenses
Unit ：RMB
Items Amount of current period Amount of previous period
Income tax at current period according to taxation and related
449,368,961.00 279,526,692.00
regulation
Adjustment Deferred income tax 44,541,603.00 -15,599,815.00
Total 493,910,564.00 263,926,877.00
120
广东电力发展股份有限公司 2013 半年度报告全文
63. Calculation process of basic earnings per share and dilute earning per share
(a)Basic earnings per share
The basic earnings per share is calculated by dividing the current net profits belongingtotheshareholders of
ordinary shares by the weighted average number of ordinary shares issued to the public：
June 30, 2013 June 30, 2012
Net profit belonging to the shareholders of 1,357,484,280 577,436,462
ordinary shares
Weighted average number of ordinaryshares 4,375,236,655 3,981,994,714
issued to the public
Basic earnings per share 0.31 0.15
As at 31, Dec 2012, the company has completed major restructuring and acquired 5 subsidiariesby business
combination under common control. As CAS policy required, the reporting entity based on consolidation
statement is considered existing during previous period from the perspective of ultimate controller. Retained
earnings of reporting entity after consolidation include accumulated net profit of the combined parties realied
before combination. Therefore, regarded as outstanding shares have been issued at the beginning of first period,
ordinary shares issued as for proce issue to business combination under the same control should include in
weighted average unmber of ordinary shares issued to public.
(b)Diluted earnings per share
Diluted earnings per share is calculated b dividing the current net profits belonging totheshareholders of ordinary
shares by the weighted average number of ordinary shares and diluted potential ordinary shares issued to the
public. In June 30, 2013 and June 31, 2012, the Group has no diluted potential ordinary shares, and basic
earnings per share are the same with Diluted earnings per share.
58. Other comprehensive income
Unit:RMB
Items Amount of current period Amount of previous period
1.Loss amount produced by sellable financial assets -42,409,995.00 4,218,645.00
Less：Deduct: income tax infection produced by sellable
-10,602,499.00 1,054,661.00
financial assets
Subtotal -31,807,496.00 3,163,984.00
Total -31,807,496.00 3,163,984.00
Statement on Other comprehensive income
65.Cash flow statement Notes
（1）Cash received related to other operating activities
121
广东电力发展股份有限公司 2013 半年度报告全文
Unit：RMB
Items Amount
Insurance indemnity 19,372,468.00
Interest income 21,327,285.00
Government Subsidy 7,718,344.00
Recovered current money 6,222,904.00
Other 10,578,923.00
Total 65,219,924.00
Statement on Cash received related to other operating activities
（2） Cash paid related to other operating activities
Unit：RMB
Items Amount
Swwage charge 28,162,994.00
Insurance expenses 45,130,952.00
Equipment cleaning and hygiene green fee 11,731,413.00
Transportation fee 3,127,050.00
Fire guard fee 9,964,693.00
Business fee 9,776,139.00
Agency Charge 4,304,357.00
Embankment protection fees 6,656,102.00
Office Expenses 7,606,222.00
Travel expenses 6,587,031.00
Rental fee 7,780,535.00
Test fee 3,451,579.00
Enterprise publicity expenses 2,109,989.00
Director fee and other conference fee 2,241,521.00
Land use fees and sea areas use fees 753,984.00
Information system maintenance 1,914,321.00
Water and electrical 5,197,407.00
R&D development 5,169,649.00
Property Management fee 12,070,119.00
Deposit 8,860,818.00
122
广东电力发展股份有限公司 2013 半年度报告全文
Other 79,989,492.00
Total 262,586,367.00
Statement on Cash paid related to other operating activities
（3） Cash received related to other investment activities
Unit：RMB
Items Amount
Guangdong Power Group Company asset restructuring supplementary
422,451,302.00
payments
Total 422,451,302.00
Statement on Cash received related to other investment activities
（4）Cash paid related to other investment activities
Unit：RMB
Items Amount
Enrusted loan fees 150,000.00
Total 150,000.00
Statement on Cash paid related to other investment activities
（5）Cash received related to financing activities
Unit：RMB
Items Amount
Statement on Cash received related to financing activities
（6）Cash paid related to financing activities
Unit：RMB
Items Amount
Raising funds to pay fees 5,691,659.00
Total 5,691,659.00
Statement on Cash paid related to financing activities
60. Supplement Information for cash flow statement
（1）Supplement Information for cash flow statement
123
广东电力发展股份有限公司 2013 半年度报告全文
Unit :RMB
Supplement Information Amount of current period Amount of previous period
I. Adjusting net profit to cash flow from operating activities -- --
Net profit 1,923,368,274.00 878,850,354.00
Add: Impairment loss provision of assets 17,500,000.00
Depreciation of fixed assets, oil and gas assets and
1,723,798,366.00 1,492,879,461.00
consumable biological assets
Amortization of intangible assets 22,828,253.00 18,770,749.00
Loss on disposal of fixed assets, intangible assets and other
38,922.00 -42,348,939.00
long-term deferred assets
Financial cost 1,004,657,858.00 959,902,023.00
Loss on investment -379,355,414.00 -162,957,368.00
Decrease of deferred income tax assets 26,733,840.00 -16,654,477.00
Increased of deferred income tax liabilities 17,807,763.00 1,054,662.00
Decrease of inventories -130,296,757.00 -160,083,875.00
Decease of operating receivables -151,298,282.00 -1,353,035,976.00
Increased of operating Payable 1,247,506,038.00 2,323,507,841.00
Net cash flows arising from operating activities 5,323,290,861.00 3,939,884,455.00
II. Significant investment and financing activities that
-- --
without cash flows:
III. Net increase of cash and cash equivalents -- --
Ending balance of cash 5,601,716,771.00 4,105,685,958.00
Less: Beginning balance of cash 2,813,898,537.00 4,040,520,194.00
Net increase of cash and cash equivalents 2,787,818,234.00 65,165,764.00
（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 -- --
II. Disposal of subsidiaries and bushiness -- --
（3）Composition of cash and cash equivalents
Unit：RMB
Items Amount of current period Amount of previous period
124
广东电力发展股份有限公司 2013 半年度报告全文
I. Cash 5,601,716,771.00 2,813,898,537.00
Of which: Cash in stock 163,933.00 154,999.00
Bank savings could be used at any time 5,601,552,838.00 2,813,743,538.00
III. Balance of cash and cash equivalents at the period end 5,601,716,771.00 2,813,898,537.00
Statement on Supplementary information of cash flow statement
(VIII). Related parties and related-party transactions
1. Parent company information of the enterprise
Vote right
Share ratio
ratio of
of parent
Parent Legal parent Ultimate
Related Enterprise Registratio Business Registered company Organizati
company representat company controlling
parties type n place character capital against the on code
name ive against the party
company(
company(
%)
%)
Power
plant
opera
ting,e
lectri
Controllin
Guangdon city
g State Guangzho 21,500,000 udean 73048602-
g Yudean Pan Li assets 67.39% 67.39%
shareholde holding u ,000 Group 2
Group mana
r
geme
nt,
electr
icity
generation
Particulars about the parent company of the Company
2. Subsidiary companies information of the enterprise
Full name
Subsidiary Legal Share
of Enterprise Registration Business Registered Vote right Organizatio
company representati holding
subsidiary type area character capital ratio (%) n code
type ve ratios(%)
company
Zhanjiang Controlling Limitedliabi Production 2,875,440,0
Zhanjiang Liu Qian 76% 76% 23210093-2
Electric Subsidiary lity of electric 00.00
125
广东电力发展股份有限公司 2013 半年度报告全文
power Company power,
power
station
construction
Providing
Limitedliabi
Zhanjiang Controlling Shen repair and 20,000,000.
lity Zhanjiang 76% 76% 78942832-9
Yuheng Subsidiary Mingde maintenanc 00
Company
e service
Production
of electric
Yuejia
Controlling Foreign Lin power, 1,200,000,0
Electric Meizhou 58% 55.56% 61741361-4
Subsidiary investment Shizhuang power 00.00
Power
station
construction
Production
of electric
Yuejia Limitedliabi
Controlling Li power, 770,000,000
Electric lity Shaoguan 65% 65% 70752208-0
Subsidiary Shizhuang power .00
Power Company
station
construction
Production
of electric
Zhenneng Limitedliabi
Controlling power, 1,019,535,5
Electric lity Maoming Hu Xiaolei 58.27% 58.27% 76656459-8
Subsidiary power 00.00
Power plant Company
station
construction
Production
of electric
Jinghai Limitedliabi
Controlling Li power, 2,919,272,0 77307022-
Power lity Jieyang 65% 65%
Subsidiary Mingliang power 00.00 X
Generation Company
station
construction
New
Energy
Zhanjiang Developme
Controlling Foreign Lin 346,110,000
Wind Zhanjiang nt and 70% 60% 79295197-0
Subsidiary investment Shizhuang .00
Power Generation
of
Electricity
Xuwen Limitedliabi Production
Controlling Li 173,190,000
Wind lity Zhanjiang of electric 70% 60% 69473177-1
Subsidiary Shizhuang .00
Power Company power,
126
广东电力发展股份有限公司 2013 半年度报告全文
power
station
construction
Electric
Plant
Constructio
Limitedliabi
Leizhou Controlling Li n, 20,000,000.
lity Zhanjiang 70% 60% 06512991-3
Wind Power Subsidiary Shizhuang Electricity 00
Company
Engineering
Technology
Service
Anxin Providing
Limitedliabi
Electric Controlling repair and 20,000,000.
lity Dongguan Rao Subo 100% 100% 66498489-0
Power Subsidiary maintenanc 00
Company
Maintenance e service
Production
of electric
Humen Limitedliabi
Controlling Li power, 150,000,000
Electric lity Dongguan 60% 60% 68056908-0
Subsidiary Shizhuang power .00
Power Plant Company
station
construction
Production
of electric
Limitedliabi
Zhongyuee Controlling power, 1,454,300,0
lity Zhanjiang Liu Qian 90% 90% 74367331-0
Energy Subsidiary power 00.00
Company
station
construction
Coal Wharf
construction
, power plan
Bohe Limitedliabi t constructio
Controlling Luo 485,000,000
Electric lity Maoming n, electricity 100% 100% 55168364-5
Subsidiary Zhiheng .00
Power Plant Company projects wit
h technical
advice and s
ervices
Constructio
n,
Limitedliabi
Huadu Controlling Wen Investment 120,000,000
lity Guangzhou 65% 65% 06114033-0
Natural gas Subsidiary Lianhui and .00
Company
Managemen
t of power
127
广东电力发展股份有限公司 2013 半年度报告全文
plants and
heating
power
pipeline
networks
Electricity
investment ,
Limitedliabi
Dapu Power Controlling Lin Electricity 300,000,000
lity Meizhou 100% 100% 06145024-0
Generation Subsidiary Shizhuang Engineering .00
Company
Technology
Service
Constructio
n, Operating
Limitedliabi and
Dianbai Controlling Luo 10,000,000.
lity Maoming Managemen 100% 100% 07191181-3
Wind Power Subsidiary Zhiheng 00
Company t of
Electric
plant
Production
of electric
Guangqian Limitedliabi
Controlling Wen power, 1,030,292,5
Ecectric lity Shenzhen 100% 100% 70842633-0
Subsidiary Lianhui power 00.00
Power Company
station
construction
Wind power
Shibeishan Limitedliabi generation
Controlling Li 231,700,000
Wind lity Jieyang and power 70% 60% 76384872-0
Subsidiary Chengjun .00
Power Company station
construction
Production
of electric
Red Bay Limitedliabi
Controlling Wen power, 2,749,750,0
Power lity Sanwei 65% 65% 76061818-8
Subsidiary Lianhui power 00.00
Generation Company
station
construction
Production
of electric
Limitedliabi
Huizhou Controlling Zheng power, 1,370,000,0
lity Huizhou 45% 85% 79117246-5
Pinghai Subsidiary Hanquan power 00.00
Company
station
construction
Huizhou Controlling Limitedliabi Huizhou Gao Production 963,000,000 67% 67% 76380066-3
128
广东电力发展股份有限公司 2013 半年度报告全文
Natural gas Subsidiary lity Shiqiang of electric .00
Company power,
power
station
construction
3. Joint-venture and affiliated enterprises information of the company
Invested unit Enterprise Registration Legal Business Registered Share holding vote right Affiliation Organization
name type Place representative character capital ratio(%) ratio(%) relation code
I.Joint enterprise
\Fuel State Joint
Guangzhou Zhu Dejun Fuel Trade 630,000,000 50% 50% 190326035
Company holding enterprise
II. Affiliated enterprise
Guohua State Qing Power 2,700,000,0 Affiliated
Taishan 20% 20% 72784029-7
Taishan holding Dingguo generation 00 enterprise
Binlangjian State Power Affiliated 75066253-
Baoshan Liu Yibin 613,000,000 29% 29%
g holding generation enterprise X
Shanxi State 1,000,000,0 Affiliated
Taiyuan Liang Jian Coal 40% 40% 790216374
Energy holding 00 enterprise
Yudean State Yang 2,000,000,0 Affiliated
Guangzhou Finance 25% 25% 71226867-0
Finance holding Xuanxing 00 enterprise
West State Power Affiliated 75285691-
Guangzhou Li Zhuoxian 847,400,000 26% 26%
Investment holding generation enterprise X
Yudean State 2,465,800,0 Affiliated
Guangzhou Liang Jian Shipping 35% 35% 775555474
Shipping holding 00 enterprise
Lincang State Power Affiliated
Lincang Huang Ning 196,600,000 49% 49% 77048814-5
Yuntou holding generation enterprise
Weixinyunt State Yang Power 1,168,277,4 Affiliated 77859169-
Zhaotong 40% 40%
ou holding Guowen generation 00 enterprise X
Santou State Power Affiliated
Santou Yang Qing 194,190,000 25% 25% 783853842
Wind Power holding generation enterprise
Jiangkeng
State Li Power Affiliated
Hydroelectric Qingyuan 22,839,076 25% 25% 61806551-9
holding Guansheng generation enterprise
station
Zhongxinke
State Power Affiliated
ng Electric Qingyuan Lin Yang 15,150,000 40% 40% 70760320-0
holding generation enterprise
Power
4. Other Related parties information of the enterprise
Other Related parties name Relation of other Related parties with the
Organization code
company
129
广东电力发展股份有限公司 2013 半年度报告全文
Maoming Thermalpower Plant Controlled by Yudean Group 19492436-6
Shaoguan Power Generation Plant Controlled by Yudean Group 61744590-7
Shaoguan D plant 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
Bioligy Power Controlled by Yudean Group 680565944
Yudean Porpoety Controlled by Yudean Group 74706406-1
Yangjiang Port Controlled by Yudean Group 77622217X
Yueyang Power Generation Controlled by Yudean Group 197823202
Yudean Information Technology Co., Ltd. Controlled by Yudean Group 69692475-3
Yudean Real eatate Controlled by Yudean Group 73987209-3
Zhuhai Hengda Energy Controlled by Yudean Group 707513758
Yudean Environment Protection Controlled by Yudean Group 69643858-7
Shenzhen Tianxin Controlled by Yudean Group 788338241
Huangpu Electric Power Project Controlled by Yudean Group 191170749
Guanghe Electric Power Controlled by Yudean Group 61740263-2
Jinhui Electric Power Controlled by Yudean Group 72785566-7
Huangpu Yuhua Human Resources Controlled by Yudean Group 190536892
Chaokang Investment Controlled by Yudean Group Hongkong Company, Not Organization code
Statement on other related parties
5. Related Transactions
（1）The providing service/sells goods
Unit： RMB
Occurred current term Occurred in previous term
Percentag Percentag
Pricing and
Subjects of the related e in e in
Related parties decision making
transactions Amount similar Amount similar
process
trades trades
（%） （%）
Fuel Company Fuel purchase Agreement price 5,563,733,954.51 65.46% 6,813,876,578.59 67.4%
Zhutou Fuel
Fuel purchase Agreement price 639,863,356.87 7.53% 581,724,820.86 5.75%
Company
130
广东电力发展股份有限公司 2013 半年度报告全文
Zhuhai Hengda
Fuel purchase Agreement price 916,054.99 0.01% 1,122,657.59 0.01%
Energy
Yudean Environment
Material purchase Agreement price 49,436,054.94 74.63% 30,257,239.84 55.95%
Protection
Yudean Property Acceptance of
Agreement price 7,137,111.93 64.86% 7,149,887.62 59.96%
Management management services
Yudean Information Acceptance of
Agreement price 1,111,789.51 0.54% 3,865,054.26 2.08%
Technology management services
Guangzhou Huangpu Acceptance of Repair
Agreement price 8,055,578.52 1.57% 9,390,123.12 2.45%
Power Engineering services
Guangzhou
HuangpuYueha Outsource service Agreement price 1,525,000.00 7.57% 1,602,616.00 7.82%
Power Generation
Maoming Thernal Acceptance of tugboat
Agreement price 28,001,525.20 6.41% 28,684,053.20 6.56%
power services
Acceptance of tugboat
Yudean Shipping Agreement price 12,905,660.40 100% 11,995,000.00 100%
services
Acceptance of
Yudean Real eatate Agreement price 1,793,292.00 6.91% 1,793,292.00 6.77%
leasingservices
Sales of goods and services
Unit：RMB
Occurred current term Occurred in previous term
Percentag Percentag
Pricing and
Subjects of the related e in e in
Related parties decision making
transactions Amount similar Amount similar
process
trades trades
（%） （%）
Yudean Environment
Sale of Material Agreement price 45,606,021.38 60.93% 12,417,301.50 16.41%
Protection
Providing maintenance
Shajiao C Agreement price 8,957,264.99 67.67% 8,376,421.41 57.09%
services
Zhuhai Power Providing maintenance
Agreement price 948,717.95 7.17% 1,581,196.58 10.78%
Generation plant services
Zhuhai Jinwan
Providing maintenance
Power Generation Agreement price 1,297,827.85 9.81% 2,446,667.43 16.68%
services
Co., Ltd.
（2）Related leasing
The Company is the lender
131
广东电力发展股份有限公司 2013 半年度报告全文
Unit：RMB
Rental
Name of the Name of the Category of asset
Starting date Stop date Pricing basis recognized in the
owner tenant for rent
period
The Company is the undertaker
Unit：RMB
Rental
Name of the Name of the Category of asset
Starting date Stop date Pricing basis recognized in the
owner tenant for rent
period
Guangdong
Yudean Real Electric Power Property December 31,
January 1, 2013 Agreement price 1,793,292.00
eatate Development Leasing 2013
Co., Ltd.
Yudean Real Guangdong Property December 31,
January 1, 2013 Agreement price 557,340.00
eatate Shibeishan Leasing 2013
Maoming Thernal Maoming December 31,
Land Leasing January 1, 2007 Agreement price 364,861.00
power Zhenneng 2037
Maoming Thernal Maoming Property December 31,
January 1, 2013 Agreement price 155,405.00
power Zhenneng Leasing 2013
Statement on related leasing
（3）Status of related party guarantee
Unit:RMB
The beneficiary
Guarantor Amount guaranteed Start date Due date Completed or not
party
Guangdong
Electric Power
Lincang Yuntou 34,300,000.00 December 25, 2006 January 19, 2022 No
Development Co.,
Ltd.
Guangdong
Electric Power
Lincang Yuntou 13,720,000.00 July 29, 2008 July 29, 2020 No
Development Co.,
Ltd.
Guangdong
Electric Power
Lincang Yuntou 122,500,000.00 November 18, 2012 December 31, 2032 No
Development Co.,
Ltd.
132
广东电力发展股份有限公司 2013 半年度报告全文
Guangdong
Electric Power
Weixin Yuntou 200,000,000.00 September 22, 2009 March 20, 2016 No
Development Co.,
Ltd.
Guangdong
Electric Power
Weixin Yuntou 334,800,000.00 March 27, 2012 March 27, 2027 No
Development Co.,
Ltd.
Guangdong
Electric Power
Weixin Yuntou 56,495,000.00 April 11, 2013 April 19, 2030 No
Development Co.,
Ltd.
Guangdong
Electric Power
Weixin Yuntou 48,021,000.00 April 11, 2013 April 23, 2030 No
Development Co.,
Ltd.
Guangdong
Electric Power
Weixin Yuntou 28,247,000.00 April 11, 2013 April 28, 2030 No
Development Co.,
Ltd.
Guangdong
Electric Power
Weixin Yuntou 141,237,000.00 April 11, 2013 May 10, 2030 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 29,000,000.00 Novembe3r 30, 2007 March 12, 2021 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 120,000,000.00 March 18, 2008 June 5, 2028 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 58,000,000.00 October 31, 2008 October 30, 2027 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 13,050,000.00 November 30, 2007 June 30, 2019 No
Development Co.,
Ltd.
Guangdong Binlangjiang 14,500,000.00 November 30, 2007 November 25, 2015 No
133
广东电力发展股份有限公司 2013 半年度报告全文
Electric Power
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 43,500,000.00 December 25, 2007 December 18, 2024 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 43,500,000.00 December 19, 2007 August 30, 2022 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 93,670,000.00 June 22, 2009 August 24, 2029 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 72,500,000.00 November 14, 2008 November 14, 2020 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 72,500,000.00 May 27, 2009 May 27, 2023 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 72,500,000.00 June 23, 2010 July 15, 2015 No
Development Co.,
Ltd.
Guangdong
Electric Power
Binlangjiang 145,000,000.00 December 16, 2010 July 15, 2020 No
Development Co.,
Ltd.
Statement on related guarantees
（4）Related party funds
Unit：RMB
Related parties Amount of demolition Start date Expired on Remarks
Borrow in
Yudean Fanince 300,000,000.00 February 26, 2013 February 25, 2014
Yudean Fanince 300,000,000.00 August 29, 2012 September 24, 2013
134
广东电力发展股份有限公司 2013 半年度报告全文
Yudean Fanince 30,000,000.00 August 9, 2012 August 8, 2013
Yudean Fanince 50,000,000.00 August 28, 2012 August 27, 2013
Yudean Fanince 70,000,000.00 November 21, 2012 November 20, 2013
Yudean Fanince 100,000,000.00 December 1, 2012 November 30, 2013
Yudean Fanince 30,000,000.00 December 4, 2012 December 3, 2013
Yudean Fanince 50,000,000.00 January 5, 2013 January 4, 2014
Yudean Fanince 80,000,000.00 April 1, 2013 March 31, 2014
Yudean Fanince 120,000,000.00 May 7, 2013 May 6, 2014
Yudean Fanince 70,000,000.00 June 17, 2013 June 16, 2014
Yudean Fanince 50,000,000.00 June 4, 2013 December 3, 2013
Yudean Fanince 200,000,000.00 June 18, 2013 December 17, 2013
Yudean Fanince 705,000,000.00 January 1, 2013 December 31, 2013
Yudean Fanince 80,000,000.00 June 5, 2013 December 4, 2013
Yudean Fanince 80,000,000.00 June 17, 2013 December 16, 2013
Yudean Fanince 60,000,000.00 July 9, 2013 January 8, 2014
Yudean Fanince 113,040,000.00 February 21, 2013 December 13, 2013
Yudean Fanince 372,000,000.00 January 15, 2013 December 13, 2013
Yudean Fanince 50,000,000.00 February 4, 2013 February 4, 2014
Yudean Fanince 50,000,000.00 May 7, 2013 May 7, 2014
Chaokang Company 100,000,000.00 December 28, 2012 December 27, 2013
Chaokang Company 100,000,000.00 April 25, 2013 April 24, 2014
Lend out
（5）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 2013, the expense reimbursement received from Shajiao C amounted to
approximately RMB 4,180,891.99.
(b)Interest income
January-June
January-June 2012
2013
Interest income from cash in Yudean
17,555,849 13,732,221
Finance
Weixin Yuntou 7,147,966 8,076,520
West Investment 75,440
135
广东电力发展股份有限公司 2013 半年度报告全文
Lincang Yuntou 118,771 521,373
Shanxi Energy 3,408,393 5,567,036
Total 28,230,979 27,972,590
Percentage 88.22% 64.98%
The interest rate of cash in Yudean Finance is the same as the interest rate of cash in bank
forthesame period.
(c) Interest expenese
January-June
January-June 2012
2013
Interest paid to Yudean for the entrust loan 170,231,094 193,581,388
Interest paid to Chaokang Company for
7,774,863
borrowing
Interest paid to Yudean Group For borrowing 10,097,383
Interest paid to Guanghe Power For borrowing 11,275,911
Total 178,005,957 214,954,683
Percentage 17.88% 22.32%
(D) Joint inestment
As of June 30, 2013, The Group invested in the following subsidiaries and associates jointly with
Yudean:
Yudean Group
attrbutable equit
y interest owne
d by Yudean %
Yudean Finance 65%
Fuel Company 50%
Shanxi Energy 60%
West Investment 35%
Yudean Shipping 45%
(e) Yudean Financial's cash arrangement
According to the Notice of Unified Fund Settlement Management through Cooperation (Yuedian
Cai (2009) No. 241) issued by Yudean Group Company, the parent company of the Company,
Yudean Finance shall conduct unified settlement management of the income bank account and
expenditure bank account of the Group. The Company and all subsidiaries shall open the only
income accounts at the nominated bank and authorize Yudean Finance to make payment.
On June 30, 2013, the balance of funds deposited by the Group at Yudean Finance was RMB
4,122,389,192.
6. Account receivable and payable of related parties
The account receivable of related parties of the company
136
广东电力发展股份有限公司 2013 半年度报告全文
Unit ：RMB
Name Related parties Year-end balance Year-beginning balance
Book balance Provision for Book balance Provision for
devaluation devaluation
Monetary Capital Yudean Finance 4,122,389,192.00 1,858,171,651.00
Account receivables Shajiao C 832,515.00 18,944,756.00
Account receivables Bioligy Power 838,595.19 602,202.00
Yudean Environment
Account receivables 12,293,572.00 132,344.00 29,009,296.00
Protection
Zhuhai Power
Account receivables 1,850,000.00 740,000.00
Generation
Account receivables Zhuhai Jinwan 384,315.75 9,493.00
Other receivables Chaokang Investment 220,434.36 220,434.00
Other receivables Shajiao C 1,253,260.55 2,450,490.00
Shaoguan Power
Other receivables 2,880.69
Generation
Other receivables Weixin Yuntou 95,000,000.00 100,886,148.00
Yudean Environment
Other receivables 16,287,767.08 18,618,310.00
Protection
Other receivables Yudean Property 256,152.00 256,152.00
Other receivables Yudean Real eatate 783,544.00 783,544.00
Other receivables Yudean Group 0.00 422,451,302.00
Other receivables Shanxi Energy 0.00 8,014,630.00
Other receivables Lincang Yuntou 0.00 5,011,426.00
Dividend Receivables Yudean Finance 52,366,199.75
Interest receivable Yudean Finance 2,712,671.67 613,197.10
Payment in advance Fuel Company 1,183,157,591.67 943,652,991.00
Payment in advance Shenzhen Tianxin 445,276.66 3,116,937.00
Long-term Receivables Shanxi Energy 0.00 153,200,000.00
Long-term Receivables Weixin Yuntou 0.00 100,000,000.00
Long-term Receivables Lincang Yuntou 0.00 5,580,000.00
Account payable to related parties
Unit：RMB
Projects Related parties Year-end balance Year-beginning balance
137
广东电力发展股份有限公司 2013 半年度报告全文
Account payables Maoming Thermal Power 99,681,330.00 88,385,062.00
Yudean Environment
Account payables 60,711,029.00 27,292,333.00
Protection
Yudean Information
Account payables 667,000.00 434,900.00
Technology
Account payables Xinfengjiang 130,175.00 91,356.00
Account payables Yudean Property 2,194,084.00 471,878.00
Account payables Huangpu Electrc Power 204,000.00 4,878,489.00
Account payables Fuel Company 1,468,357,472.00 2,603,606,636.00
Account payables Yunfu Jinhui 90,582.00 90,582.00
Account payables Chaokang Investment 0.00 1,519,323.00
Interest payables Yudean Finance 6,133,066.00 9,820,839.00
Interest payables Chaokang Investment 7,900,833.00 126,530.00
Dividend payable Shaoguan D 3,521,190.00 3,521,190.00
Bills payables Yudean Finance 1,410,000,000.00 526,200,000.00
Short-term loan Yudean Finance 3,517,000,000.00 5,188,000,000.00
Short-term loan Chaokang Investment 500,000,000.00 200,000,000.00
Long-term Loan Yudean Finance 476,390,000.00 1,405,400,000.00
Other Payables Maoming Thermal Power 15,000,000.00 30,000,000.00
Other Payables Shaoguan Power Generation 11,847,397.00 26,228,082.00
Yudean Environment
Other Payables 1,084,284.00 14,301,697.00
Protection
Yudean Information
Other Payables 587,700.00 251,500.00
Technology
Other Payables Xinfengjiang 91,356.00 1,127,200.00
Other Payables Yudean Property 5,000.00 2,447,177.00
Other Payables Huangpu Electrc Power 8,569,472.00 9,566,490.00
Other Payables Shenzhen Tianxin 70,000.00 70,000.00
Other Payables Huangpu Yuehua 1,499,583.00 622,708.00
Other Payables Guangzhu Power Generation 68,107,200.00 102,160,800.00
Other Payables Yudean Shipping 8,140,000.00 3,500,000.00
Other Payables ShaoguanD 1,750,737.00 1,750,737.00
Other Payables Yueyang Company 18,000,000.00 0.00
(IX) Subsequent events
138
广东电力发展股份有限公司 2013 半年度报告全文
1. Liabilities formed from pending lawsuit and mediation and its financial impact
Haoxing abalone farm in Pinghai Town, Huidong Conty sent us a lawyer’s letter on May 24, 2010 through
Guangdong Weilun Lawyers’ Firm. It’s said that Huizhou Pinghai electric Plant results in pollution of sea water,
and changes the direction and seed of waves, which results in a 3 million loss per year and the loss may be gigger.
The farm required us to take resporsibility for their loss and take actions as soon as possible, including stop
invading, reduce interference, eliminate danger, recover and pa for loss.
The Group thinks that the farm is located outside the area of Huizhou Pinghai’s area, and there is no
evidenceorsupport for the charge that the construction of the plant caused the pollution, change of direction and
speed of waves and resulted in the loss. Huizhou Pinghai is going to result this case by legal procedures.
The board of Huizhou Pinghai Cannot estimate the possible loss of this case by the date of audit publicly
issuingthefinancial statement, so there is no provision or liability recorded in the financial statements.
(X) Commitments
1.Significant Commitments
The 12th meeting of the seventh board of directors of the Company held on March 7, 2013 adopted the Proposal
for Increasing the Capital of Guangdong Guohua Yudean Taishan Power Generation Co., Ltd. According to the
proposal, the Company shall increase the registered capital of Guangdong Guohua Yudean Taishan Power
Generation Co., Ltd. by RMB 360,000,000 in investment proportion of 20%. As of June 30, 2013, the Company
had not increased the capital of Guangdong Guohua Yudean Taishan Power Generation Co., Ltd.
The 12th meeting of the seventh board of directors of the Company held on March 7, 2013 adopted the Proposal
for Investing in and Establishing Guangdong Yudean Dianbai Wind Power Co., Ltd. According to the proposal,
the Company shall invest RMB 117,940,000 to establish Guangdong Yudean Dianbai Wind Power Co., Ltd. as a
wholly-owned subsidiary, which is responsible for constructing and operating hot water and wind power projects.
As of June 30, 2013, the Company had contributed capital of RMB 10,000,000.00 to Dianbai Wind Power
Company.
The 14th meeting of the seventh board of directors of the Company held on April 24, 2013 adopted the Proposal
for Investing in Phase-ii Cogeneration Project of Huizhou LNG Power Plant. According to the proposal, the
Company shall invest in and construct phase-II cogeneration project of Huizhou LNG Power Plant in equity
proportion of 67%. The total capital of the project is RMB 849,000,000. The Company is to contribute capital of
RMB 569,000,000 in cash in equity proportion of 67% and by installments according to project construction
progress and fund demand. As of June 30, 2013, the Company had not increased the capital of this project.
2. Implementation Commitments
On the 7th Session of the Board of Directors of the Company held on January 19th 2012, the first meeting
in2012adopted the motion “ investment of Guishan Offshore Wind Power Project”, According to the motion,
the Company Would hold 10% stake of shares in investing in Guishan Offishore Wind Power Project. The
registered capital is tentatively set at RMB 900,000,000, THE COMPANY INVESTED rmb 90 million
according to 10% of the total capital of the project, As at June 30, 2013, the Company has applied to the South
wind power investment of RMB 30, 000,000.
139
广东电力发展股份有限公司 2013 半年度报告全文
On the 10th Meeting of the Seventh Session of the Board of Directors of the Company held on August 21st
2012,itwasadopted the motion about increasing capital investment to Weixin Yuntou. As the capital stake of
40%, according to the motion of the Company to the Weixin Yuntou capital of RMB 239.6 million, the
company invested in the capital incurease is completed the total capital of RMB 733,600,000 . As at June 30,
2013, the Company has invested in Weixin Yuntou actual capital increase of RMB 200,000,000.
On the 11th Meeting of the Seventh Session of the BOARD OF Directors of the Company held on October 29th
2012,itwasadopted that the “ Establish Dapu Electric Company as a wholly-own subsidiary” . According to
the approval, the Company would tentatively inject register capital of RMB 1,104,000,000, AN INITIAL
REGISTERED CAPITAL OF rmb 300,000,000. As at June 30, 2013, Dapu Electric Has not been established,
the Company has invested in its project preparation Group RMB 300,000,000.
On the meeting of the Seventh Session of the Board of Directors of the Company held on October 29th 2012, it
was adopted that the motion “ on the capital increase to Guangdong Yudean Bohe Electric”. According to the
approval, the Company will increase investment in Bohe Electric Cpital of RMB 854,570,000. As at June 30,
2013, the Company has invested in Weixin Yuntou actual capital increase of RMB 200,000,000.
On the 3rd Communication meeting of the seventh Session of the Board of Directors of the Company held on
November 20th 2012, it was adopted the motion of “ preparatory work for establishing Huadu Electric and
Natural Gas Thermal Power Project” . On the 2nd Communication meeting of the seventh session of the Board of
directors of the Company held on January 28th 2013, it is adopted the motion of “ Adjustment of the registered
capital of Guangdong Yudean Huadu LNG Power Co., Ltd.(“ Huadu LNG”) Project”. According to the motion,
the Company holds 65% stake of Huadu LNG, COMPARED WITH Guangzhou Yekun Sheng investment
management Co., Ltd., holding 35%. The amount of capital contribution of the Company is RMB 78, 000,000 at
the shareholding percentage of 65%, as the first registered capital of Huadu LNG is RMB 120,000,000. As at June
30, 2013, the Company had invested RMB 78, 000,000 and Huadu LNG has not been established
On the 8th Meeting of the sixth Session of the Board of Directors of the Company held on June 29th 2009,
itwasadoptedthe motion “ Capital injection to Shantou Wind Power for involving in the wind power project
construction in Nanao East Island “. According to the approval, the Company would inject capital fund of
RMB 35,000,000 at the shareholding percentage of 25%. As at June 30, 2013, the Company had injected fund
amount of RMB 12,472,500.
On the 11th Meeting of the Sixth Session of the Board of Directors of the Company held on April 15th
2010,itwasadopted the motion “ Capital increment to Jinghai Electric”. According to the approval, the
Company would inject capital fund of RMB 565,025,500 at the shareholding percentage of 65%. As at
December 31st 2012, the Company had injected fund amount of RMB 445,014,000.
On the 2rd meeting of seventh session of the Board of Directors of the Company held on June 28th 2011, it
wasadoptedthe motion “ Capital increment to Zhanjiang Wind Power Generation wiond power project”.
According to the approval, the Company would inject RMB 140,000,000 BY STAGE. AS AT June 30, 2013,
the Company had injected amount of RMB 75,733,000.
140
广东电力发展股份有限公司 2013 半年度报告全文
(XI) Other important events
1.Leasing
Finance lease fixed assets
On June 30, 2013, the fixed assets, whose book value is RMB 3,482,384,179(Original price
RMB4,172,900,000),IS FINANCIALLY LEASED (31 December, 2012：Book value RMB3,606,569,905，
Original price RMB4,172,900,000). For detailed analysis.
The Group leaseback generation equipments and the future rental expense is listed as follow:
June 30, 2013 December 31, 2012
Within 1 year 805,490,822 817,650,316
1-2 years 805,023,419 805,347,957
2-3 years 642,067,316 806,273,212
Over 3 years 1,369,019,552 1,624,439,928
Total 3,621,601,109 4,053,711,413
As at June 30, 2013,The unamortized balance of unrecognized financing charges is RMB 617,063,969元
(December 31, 2012：RMB 720,396,115).
2.Assets and liabilities on fair value basis
Unit：RMB
Accumulative
Gain/loss from Impairment
change in fair value
Items Initial amount change of fair value provisions provided Amount end of term
accounted into
in the term in the current term
equities
Fiancial assets
3.Available for sale
295,684,545.00 -42,409,995.00 1,545,935.77 253,274,550.00
financial assets
Total of above mentioned 295,684,545.00 -42,409,995.00 1,545,935.77 253,274,550.00
Financial liabilities 0.00 0.00
(XII).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
Type
Book Balance Provision for bad debts Book Balance Provision for bad debts
141
广东电力发展股份有限公司 2013 半年度报告全文
Propo
rtion Proporti Proporti Proporti
Amount % Amount on% Amount on% Amount on%
Account receivable
with significant
specific amount that
302,358,189.00 100% 269,908,526.00 100%
were provisioned had
debt preparation
separately
Receivables provided bad debt provision in groups
Total 302,358,189.00 -- -- 269,908,526.00 -- --
Remarks on categories of receivable accounts：
is the only customer of the electric power produced by the Company. The year-end balance of accounts
receivable is the power payment receivable from GPGC.
Receivable accounts with large amount individually and bad debt provisions were provided
√Applicable □ Not applicable
Unit：RMB
Description of receivable accounts Book balance Bad debt provision Proportion Reason
Full amount recovery
GPGC 302,358,189.00
is expected
Total 302,358,189.00 -- --
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）The front 5 units’ information of the account receivable
Unit：RMB
Relation with the Portion in total other
Name Amount Ages
Company receivables (%)
142
广东电力发展股份有限公司 2013 半年度报告全文
GPGC Third party 302,358,189.00 Winth 1 year 100%
Total -- 302,358,189.00 -- 100%
2.Other receivable
（1）Other receivable
Unit：RMB
Year-end balance Year-beginning
Provision for bad
Book balance Provision for bad debts Book balance
debts
Classification
Propo Propo Propo Propo
Amount rtion( Amount rtion( Amount rtion( Amount rtion(
%) %) %) %)
Other Receivables with
major individual amount and 96.72 97.24
126,933,712.00 556,113,466.00
bad debt provision provided % %
individually
Other Receivables provided bad debt provision in groups
Other Account receivable
with minor individual
4,303,092.00 3.28% 15,771,514.00 2.76%
amount but bad debt
provision is provided
Total 131,236,804.00 -- -- 571,884,980.00 -- --
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
Entrusted loan principal a
Entrust loan due within 1
95,000,000.00 nd interest due within on
year
e year
Receivable advances by
14,978,071.00 Recovery is expected
the group of wind power
Advances receivable of 5,821,793.00 Full amount recovery is
143
广东电力发展股份有限公司 2013 半年度报告全文
Humen Jinfan Co. expected
Receivable payments of Full amount recovery is
3,750,958.00
soot expected
Shajiao C Factory Full amount recovery is
1,253,261.00
common cost-sharing expected
Full amount recovery is
Deposit 1,200,000.00
expected
Full amount recovery is
Other 4,929,629.00
expected
Total 126,933,712.00 -- --
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
Name Book balance Bad debts Provision proportion% Reason of provision
Full amount
Deposit 1,254,305.00 recovery is
expected
Full amount recovery is
Withholding payment 1,065,896.00
expected
Full amount recovery is
Revolving Fund 832,807.00
expected
Full amount recovery is
Other 1,150,084.00
expected
Total 4,303,092.00 -- --
（2）Natures or contents of other receivable accounts with large amount
（3）The front 5 units’ information of other account receivable
Unit：RMB
Name Relation with the Amount Ages Portion in total other
144
广东电力发展股份有限公司 2013 半年度报告全文
Company receivables (%)
Weixin Yuntou Company Associate Company 95,000,000.00 1-2 years 72.39%
Corntrolled by Yuduan
Wind Power Preparation 14,978,071.00 1-2 years 11.41%
Group
Dongguan Humen Jinfan
Third parties 5,821,793.00 Within 1 year 4.44%
Industry Company
Guangdong Yudean Corntrolled by Yuduan
3,750,958.00 Within 1 year 2.86%
Environmental Protection Group
Guangdong Yudean Corntrolled by Yuduan
1,253,261.00 Within 1 year 0.95%
Group ,Shajiao C. Group
Total -- 120,804,083.00 -- 92.05%
（4）Other Account receivable from Related affiliated parties
Unit：RMB
Unit name Relation with the company Amount Percentage of account receivable
Weixin Yuntou Company Associate Company 95,000,000.00 72.39%
Yudean Environmental
Corntrolled by Yuduan Group 3,750,958.00 2.86%
protection
Yudean Group. Shajiao C Corntrolled by Yuduan Group 1,253,261.00 0.95%
Yudean Real Estate Corntrolled by Yuduan Group 597,764.00 0.46%
Yudean Property Corntrolled by Yuduan Group 195,188.00 0.15%
Wind Power preparation Corntrolled by Yuduan Group 14,978,071.00 11.41%
Total -- 115,775,242.00 88.22%
（5）Account receivable that is not accord with expiration confirmation condition
（6）Account receivables subject to asset securitization , needed to briefly describe the arrangements related to
transactions.
3. .Long –term stocks equity investment
Unit：RMB
Shareholdin Explanation
Voting right
Initial g of
Accounting Original Ending proportion Current Cash
Name investment change proportion diffidence Devalue
method balance Balance in the devalue bonus
cost in the between
investee
investee shareholdin
145
广东电力发展股份有限公司 2013 半年度报告全文
g
proportion
and voting
right
proportion
in investee
Zhanjiang Cost 2,185,334 2,185,334 2,185,334 90,566,99
76% 76%
Electric method ,400.00 ,400.00 ,400.00 2.00
Yujia Cost 701,279,3 701,279,3 701,279,3 -333,154,
58% 55.56%
Electric method 38.00 38.00 38.00 746.00
Yuejiang Cost 500,500,0 500,500,0 500,500,0
65% 65%
Electric method 00.00 00.00 00.00
Zhenneng Cost 595,005,9 595,005,9 595,005,9
58.27% 58.27%
Electric method 67.00 70.00 69.00
Jinghai
Power Cost 1,930,395 1,930,395 1,930,395 189,301,0
65% 65%
Generatio method ,668.00 ,668.00 ,668.00 31.00
n
Zhanjiang
Cost 242,277,0 242,277,0 242,277,0
Wind 70% 60%
method 00.00 00.00 00.00
Power
Cost 20,000,00 20,000,00 20,000,00
Anxin 100% 100%
method 0.00 0.00 0.00
Humen
Cost 90,000,00 90,000,00 90,000,00
Power 60% 60%
method 0.00 0.00 0.00
Plant
Zhongyue Cost 1,150,248 1,150,248 1,150,248
90% 90%
Energy method ,115.00 ,115.00 ,115.00
Bohe
Cost 485,000,0 285,000,0 200,000,0 485,000,0
Power 100% 100%
method 00.00 00.00 00.00 00.00
Plant
Guangqia
Cost 1,353,153 1,353,153 1,353,153 150,548,8
n 100% 100%
method ,223.00 ,223.00 ,223.00 53.00
Electric
Shibeisha Cost 170,863,4 170,863,4 170,863,4
70% 60%
n method 81.00 81.00 81.00
Cost 2,220,023 2,220,023 2,220,023 352,692,3
Red Bay 65% 65%
method ,386.00 ,386.00 ,386.00 45.00
HuizhouP Cost 720,311,3 720,311,3 720,311,3
45% 85%
inghai method 47.00 47.00 47.00
146
广东电力发展股份有限公司 2013 半年度报告全文
Huizhou
Cost 845,846,6 845,846,6 845,846,6
Natural 67% 67%
method 46.00 46.00 46.00
Gas
Fuel Equity 380,079,1 548,487,5 -7,075,87 541,411,6 41,462,40
50% 50%
Company method 95.00 34.00 9.00 55.00 9.00
Guohua Equity 1,439,659 1,439,659 197,432,1 1,637,091
20% 20%
Taishan method ,331.00 ,331.00 83.00 ,514.00
Binlangji Equity 252,858,1 215,692,8 -11,937,0 203,755,8
29% 29%
ang method 00.00 50.00 00.00 50.00
Shanxi Equity 400,000,0 648,012,8 61,698,54 709,711,4
40% 40%
Energy method 00.00 95.00 3.00 38.00
Yudean
Equity 500,000,0 604,378,6 -4,661,95 599,716,6 52,366,20
Financ 25% 25%
method 00.00 02.00 9.00 43.00 0.00
e
YudeanSh Equity 863,030,0 905,835,1 -259,415. 905,575,7 1,136,000
35% 35%
ipping method 00.00 63.00 00 48.00 .00
West
Equity 220,324,0 274,959,2 -3,579,93 271,379,3 1,275,637
Investme 26% 26%
method 00.00 62.00 2.00 30.00 .00
nt
Lincang Equity 122,500,0 116,849,7 -1,358,51 115,491,2
49% 49%
Yuntou method 00.00 41.00 7.00 24.00
Weixin Equity 694,000,0 694,457,2 19,555,69 714,012,9
40% 40%
Yuntou method 00.00 43.00 9.00 42.00
Santou
Equity 48,547,50 54,496,36 2,828,476 57,324,84
Wind 25% 25%
method 0.00 4.00 .00 0.00
Power
Jiangkeng
Hydropo Equity 5,000,000 6,052,752 -685,569. 5,367,183 685,571.0
25% 25%
wer method .00 .00 00 .00 0
station
Zhongxin
Equity 6,060,000 7,747,736 7,747,736
keng 40% 40%
method .00 .00 .00
Electric
Sum Cost 356,000,0 356,000,0 356,000,0
5.34% 5.34%
Insurance method 00.00 00.00 00.00
Shenzhen
Cost 115,000,0 115,000,0 115,000,0 12,862,50
Chuangt 3.67% 3.67%
method 00.00 00.00 00.00 0.00
ou
South Cost 30,000,00 6,000,000 24,000,00 30,000,00
10% 10%
Wind method 0.00 .00 0.00 0.00
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广东电力发展股份有限公司 2013 半年度报告全文
Power
Maoming
Cost 903,707.0 903,707.0 903,707.0
Supply 15% 15%
method 0 0 0
Water
Guoyi
Cost 3,600,000 3,600,000 3,600,000
Tender 1.97% 1.97%
method .00 .00 .00
Invitation
Dapu
Power Cost 300,000,0 300,000,0 300,000,0
100% 100%
Generatio method 00.00 00.00 00.00
n
Huadu
Cost 78,000,00 78,000,00 78,000,00
Natural 65% 65%
method 0.00 0.00 0.00
Gas
Dianbai
Cost 10,000,00 10,000,00 10,000,00
Wind 100% 100%
method 0.00 0.00 0.00
Power
19,035,80 19,008,37 863,956,6 19,872,32 -333,154, 892,897,5
Total -- -- -- --
0,404.00 1,754.00 30.00 8,383.00 746.00 38.00
Statement on Long-term equity investment
4. Business income, Business cost
（1）Business income
Unit：RMB
Items Amount of current period Amount of previous period
Income from Business income 1,475,801,370.00 1,530,732,633.00
Other Business income 19,128,437.00 14,248,477.00
Total 1,494,929,807.00 1,544,981,110.00
Business cost 1,190,666,864.00 1,387,282,791.00
（2）Main business（Industry）
Unit：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Power Generation 1,475,801,370.00 1,174,729,882.00 1,530,732,633.00 1,379,449,305.00
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广东电力发展股份有限公司 2013 半年度报告全文
Total 1,475,801,370.00 1,174,729,882.00 1,530,732,633.00 1,379,449,305.00
（3）Main business（Production）
Unit：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Revenue from electricity sales 1,475,801,370.00 1,174,729,882.00 1,530,732,633.00 1,379,449,305.00
Total 1,475,801,370.00 1,174,729,882.00 1,530,732,633.00 1,379,449,305.00
（4）Main Business（Area）
Unit：RMB
Amount of current period Amount of previous period
Name
Business income Business cost Business income Business cost
Guangdong 1,475,801,370.00 1,174,729,882.00 1,530,732,633.00 1,379,449,305.00
Total 1,475,801,370.00 1,174,729,882.00 1,530,732,633.00 1,379,449,305.00
（5）Total income and the ratio of operating income from top five clients
Unit：RMB
Name Business Income Proportion(%)
GPGC 1,475,801,370.00 98.72%
Total 1,475,801,370.00 98.72%
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 by
795,971,720.00 210,054,196.00
adopting the cost method
Income from long-term equity investment measured by
348,882,444.00 234,407,052.00
adopting the Equity method
hold the investment income which gained from the 10,929,014.00 24,816,127.00
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广东电力发展股份有限公司 2013 半年度报告全文
transactional financial assets
Hold the investment income during from available-for-sale
7,503,870.00 6,393,225.00
financial assets
Other 342,586.00 342,586.00
Total 1,163,629,634.00 476,013,186.00
（2）Long term equity investment calculated to cost method：
Unit：RMB
Name Amount of current Amount of previous Change cause
period period
The dividends distributed by the
Jinghai Power Generation 189,301,031.00 117,193,433.00
invested company increased.
The asset reorganization was
completed at the end of previous year.
Red Bay Power Generation 352,692,345.00 0.00
Equity method changed into cost
method.
The asset reorganization was
completed at the end of previous year.
Guangqian Electric 150,548,852.00 0.00
Equity method changed into cost
method.
The dividends distributed by the
Zhanjiang Electric 90,566,992.00 78,179,513.00
invested company increased.
The dividends distributed by the
Shenzhen Chuangxin Technology 12,862,500.00 13,781,250.00
invested company Decreased
Guoyi Tender Invitation 900,000.00
Total 795,971,720.00 210,054,196.00 --
（3）Long term equity investment calculated via equity method
Unit ：RMB
Name Amount of current Amount of previous Change cause
period period
Guangdong Guohua Taishan Power Assets were newly purchased at the
197,432,184.00
Generation Co., Ltd. end of previous year
Assets were newly purchased at the
Guangdong Electric Fuel Co., ltd. 34,386,531.00 25,866,210.00
end of previous year
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广东电力发展股份有限公司 2013 半年度报告全文
Investment income of the invested
Shanxi Yudean Energy Co., Ltd. 61,698,543.00 67,496,318.00
company somewhat decreased
The Profit by the invested company
Yudean Finance 47,704,241.00 43,722,378.00
increased.
The invested company did not start
Weixin Yuntou Yudean Zhaxi Energy Co.,
19,555,698.00 production in the same period of
Ltd.
previous year
Total 360,777,197.00 137,084,906.00 --
Statement on Investment income：
In 2012, the Company acquired Red Sea Bay Power Generation, Guangqian Power, Shibeishan Wind Energy,
Huizhou Pinghai and Huizhou Natural Gas through merger of enterprises under the same control. Before the
merger day, i.e., December 31, 2012, Red Sea Bay Power Generation, Guangqian Power, Shibeishan Wind
Energy and Huizhou Natural Gas were affiliated companies of the Company. Before the completion of acquisition,
the Company recognized the income from investment in such companies on equity basis according to the
shareholding ratio before change.
6. Supplement information of Cash 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 1,212,841,957.00 363,366,441.00
The losses on the disposal of fixed assets, intangible assets and other
75,147,694.00 78,651,076.00
long-term assets
Amortization of intangible assets 1,806,124.00 1,739,394.00
Financial expenses 176,608,705.00 196,319,231.00
Investment losses -1,163,629,634.00 -476,013,186.00
Decrease of deferred income tax asset 1,054,662.00
Decrease in inventory -26,236,094.00 24,956,908.00
Decrease in operating receivable 24,584,130.00 -40,606,065.00
Increase in operating payables 36,940,077.00 274,359,206.00
Other 797,316.00
Net cash flows from operating activities 338,860,275.00 423,827,667.00
2.Investing and financing activities that do not involve cash receipts
-- --
and payments
3.Net increase in cash and cash equivalents -- --
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广东电力发展股份有限公司 2013 半年度报告全文
Cash at the end of the period 1,102,960,809.00 579,244,486.00
Less：Cash at the beginning of the period 333,626,540.00 417,749,940.00
Net increase in cash and cash equivalents 769,334,269.00 161,494,546.00
（16）Supplement information
1. Statement of non-recurring Profit or loss
Unit：RMB
Items Amount Notes
Non-current asset disposal gain/loss(including the write-off part
-151,445.00
for which assets impairment provision is made)
Govemment subsidy recognized in current gain and loss
(excluding those closely related to the Company’s business and 8,477,089.00
granted under the state’s policies)
Gain/loss on loans obtained by entrusting others 9,914,014.00
Other non-business income and expenditutes other than the above 12,527,075.00
The first half of this year, Zhanjia
ng Company Provision for invent
Provision for long-term assets impairment -17,500,000.00 ory obsolescence was 10 million
yuan, 7.5 million yuan of fixed as
set impairment.
Less：Influenced amount of income tax 60,832.00
Influenced amount of minor shareholders’ equity (After tax) 1,922,298.00
Total 11,283,603.00 --
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
2.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.
Unit：RMB
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广东电力发展股份有限公司 2013 半年度报告全文
Net profit attributable to the shareholders of the Net assets attributable to the shareholders of the
listed company listed comapny
Amount in the Amount in the previous End of the reporting Beginning of the
reporting period period period reporting period
According to CAS 1,357,484,280.00 577,436,462.00 17,274,732,546.00 16,255,322,328.00
Items and amount adjusted according to IAS
Land use right amortization -972,000.00 -373,600.00 0.00 972,000.00
The difference arising from
recognition of goodwill after
0.00 0.00 64,623,000.00 64,623,000.00
merger of enterprises under
the same control
Difference arising from
recognition of land use value -315,000.00 -315,000.00 21,065,000.00 21,380,000.00
after enterprise merger
Influence on minority interests 110,559.00 348,000.00 4,512,559.00 4,402,000.00
According to IAS 1,356,307,839.00 573,733,462.00 17,364,105.00 16,346,699,328.00
2.Note to the Difference in the Accounting Data based on the Accounting Standards of CAS and IAS.
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.
3.Return on net assets and earnngs per share
Unit：RMB
Earnings per share
Weighted average return on
Profit of report period Diluted eqrnings per
equity（%） Basic earnings per share
share
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广东电力发展股份有限公司 2013 半年度报告全文
Net profit attributable to the Common stock
8.02% 0.31 0.31
shareholders of Company.
Net profit attributable to the Common stock
shareholders of Company after deducting of 7.95% 0.308 0.308
non-recurring gain/loss.
4. The explanation of abnormal circumstance and reasons of items in major accounting statement.
Monetary capital: The ending balance increased by RMB 2.791 billion over year-beginning balance mainly due to
the increase of cash flows from operating activities of the Company;
Prepayments: The ending balance increased by RMB 248 million over year-beginning balance mainly due to
increase of prepayment for fuels after new units of Jinghai Company were put into production;
Other receivables: The ending balance decreased by RMB 430 million over year-beginning balance mainly due to
recovery of supplemental payment of RMB 422 million for the asset reorganization of Yuedian Group Company.
Non-current receivable: The ending balance decreased by RMB 256 million over year-beginning balance mainly
due to recovery of Weixin's entrusted loan of RMB 105 million and Shanxi Energy's entrusted loan of RMB 161
billion.
Fixed assets: The ending balance increased by RMB 2.048 billion over year-beginning balance mainly due to the
transfer of units of Jinghai Company into fixed assets and depreciation provision in current period;
Construction in progress: The ending balance decreased by RMB 2.715 billion over year-beginning balance
mainly due to transfer of #4 unit of Jinghai Company, denitration work of Sha A Power Plant and some technical
renovation works into fixed assets and increase of construction in progress related to Bohe Project and the project
of "Constructing New Big Power Units While Closing Small Ones" of Yuejiang Company;
Short-term loan: The ending balance decreased by RMB 2.817 billion over year-beginning balance mainly
because issued corporate bonds of RMB 1.2 billion and short-term financing notes of RMB 1.3 billion in the first
half year and inclined to adopt the mode of low cost bill financing and replaced part of short-term loans in this
mode.
Bills payable: The ending balance increased by RMB 689 million over year-beginning balance because the
Company used more bills payable to pay for coal and engineering equipment.
Accounts payable: The ending balance increased by RMB 466 million over year-beginning balance mainly due to
increase of account payable for fuels by RMB 414 million after new units of Jinghai Company started production.
Other current liabilities: The ending balance increased by RMB 1.313 billion over year-beginning balance mainly
due to issue of new short-term financing notes in current period (RMB 600 million for the Company, RMB 500
million for Red Bay Company and RMB 200 million for Guangqian Company).
Bonds payable: The ending balance increased by RMB 1.194 billion over year-beginning balance mainly because
the Company issued corporate bonds of RMB 1.2 billion in the report year.
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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).
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