广东电力发展股份有限公司 2015 年第一季度报告全文 Guangdong Electric Power Development Co., Ltd. The First Quarterly Report 2015 April 2015 1 广东电力发展股份有限公司 2015 年第一季度报告全文 1 Important Notice The Board of Directors ,Supervisory Committee, all 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. Mr.Pan Li, The Company leader, Mrs. 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 Quarterly Report . Other directors attended the meeting on examining the Annual except for the following directors. Name absent Title Reason of absence Name of entrusted director Hong Rongkun Director Due to business Gao Shiqiang Zhong Weimin Director Due to business Li Mingliang Zhang Xueqiu Director Due to business Liu Tao Lu Jun Independent director Due to business Sha Qilin English translation for reference only. Should there be any inconsistency between the Chinese and English versions, the Chinese version shall prevail. 2 广东电力发展股份有限公司 2015 年第一季度报告全文 II. Main financial data and changes of shareholders (1)Main financial data Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting error correction or not. □Yes√ No Unit:RMB Increase /decrease January-March 2015 January-March 2014 (%) Operating income(RMB) 6,068,031,708.00 7,010,362,960.00 -13.44% Net profit attributable to the shareholders of the listed 758,001,796.00 587,768,536.00 28.96% company(RMB) Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company 627,568,982.00 595,370,329.00 5.41% (RMB) Cash flow generated by business operation, net 2,652,328,931.00 2,469,169,296.00 7.42% (RMB) Basic earning per share(RMB/Share) 0.17 0.13 30.77% Diluted gains per share(RMB/Share)(RMB/Share) 0.17 0.13 30.77% Weighted average return on equity(%) 3.49% 3.08% 0.41% Increase /decrease March 31, 2015 December 31 ,2014 (%) Gross assets(RMB) 70,373,973,554.00 69,084,825,852.00 1.87% Net profit attributable to the shareholders of the listed 22,141,499,239.00 21,310,054,597.00 3.90% company(RMB) Items of non-current gains and losses √ applicable □ not applicable Unit:RMB Amount (Year-beginning to Non-recurring gain and loss items Notes(If applicable) the end of the report period.) Guangdong Yudean oil Non-current asset disposal gain/loss(including the write-off part for which assets shale Power 129,949,622.00 impairment provision is made) Generation Co. Ltd. liquidation,received 3 广东电力发展股份有限公司 2015 年第一季度报告全文 equity disposal income about 0.13 billion. Government subsidy recognized in current gain and loss(excluding those closely 841,250.00 related to the Company’s business and granted under the state’s policies) Other non-business income and expenditures other than the above -28,154.00 Influenced amount of income tax 172,425.00 Influenced amount of minor shareholders’ equity(After tax ) 157,479.00 Total 130,432,814.00 -- (2) Total number of shareholders at the end of report period and Particular about shares held by top ten shareholders Unit:Shares Total number of shareholders at the 117,473 end of report period Particular about shares held by top ten shareholders Amount of Pledging or freezing Share tradable shares Properties of Shareholder name proporti Quantity with Status of shareholder Quantity on % Conditional the shares held State-owned legal Guangdong Yudean Group Co., Ltd. 67.39% 2,948,337,737 1,577,865,257 person Shenzhen Guangfa Electric Power State-owned legal 2.33% 101,777,185 Investment Co., Ltd. person Guangdong Electric Power Development State-owned legal 1.80% 78,639,451 Company person Overseas legal GOLDEN CHINA MASTER FUND 0.62% 26,994,217 person Overseas legal NORGES BANK 0.53% 23,109,115 person GREENWOODS CHINA ALPHA Overseas legal 0.39% 16,865,738 MASTER FUND person China Construction Bank-Penghua Value Domestic non Advantage Stock-linked State-owned 0.38% 16,610,554 Security Investment Fund Legal person The national social security fund 102 Domestic non 0.37% 15,999,783 combinations State-owned 4 广东电力发展股份有限公司 2015 年第一季度报告全文 Legal person BBH A/C VANGUARD EMERGING Overseas legal 0.30% 13,330,537 MARKETS STOCK INDEX FUND person CHINA INT'L CAPITAL CORP HONG Overseas legal 0.24% 10,648,243 KONG SECURITIES LTD person Shareholding of top 10 shareholders of unrestricted shares Quantity of unrestricted shares Share type Name of the shareholder held at the end of the reporting Share type Quantity period RMB Common Guangdong Yudean Group Co., Ltd. 1,370,472,480 shares RMB Common Shenzhen Guangfa Electric Power Investment Co., Ltd. 101,777,185 shares RMB Common Guangdong Electric Power Development Company 78,639,451 shares Foreign shares GOLDEN CHINA MASTER FUND 26,994,217 placed in domestic exchange Foreign shares NORGES BANK 23,109,115 placed in domestic exchange Foreign shares GREENWOODS CHINA ALPHA MASTER FUND 16,865,738 placed in domestic exchange China Construction Bank-Penghua Value Advantage Stock-linked RMB Common 16,610,554 Security Investment Fund shares RMB Common The national social security fund 102 combinations 15,999,783 shares Foreign shares BBH A/C VANGUARD EMERGING MARKETS STOCK INDEX 13,330,537 placed in domestic FUND exchange Foreign shares CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD 10,648,243 placed in domestic exchange Guangdong Electric Power Development Co., Ltd. the Third Explanation on associated relationship among the aforesaid of the top 10 shareholders, is a subsidiary of Yudean Group, shareholders Which is the No.3 shareholder; its is unknown whether relationship exists between other shareholders. 5 广东电力发展股份有限公司 2015 年第一季度报告全文 III. Significant Events I. Particular about large-margin change of main accounting statement item and financial index and its reason. (1).Net profit increased by 28.96% year on year mainly due to fall of fuel price and investment income increased. II.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. Period Commitment Time of making of Commitment Contents Fulfillment maker commitment comm itment Commitment on share reform Commitment in the acquisition report or the report on equity changes Guangdong Yue Dian Li is the only quoted platform of Yudean November 3, Withi Yudean Group Group’s electricity asset integration within the 2011 n5y Co., Ltd. boundary. ② Except Yue Dian Li and the ears a electricity assets controlled by it, within 5 years fter th after the last recombination is done, Yudean Group e com will pump the assets which meet the conditions of pletio launching after reformation into Yue Dian Li n of gradually through purchasing and recombination major and other ways, according to the situation of asset solutions to different problems, e.g. the imperfect reorg Commitment made examination and approval procedures, the situation anizat Under upon the assets of profitability, cooperation agreement and land ion fulfillment replacement utilization. ③ At the aspects of the development of power project and assets purchasing, Yudean Group provides the priority for Yue Dian Li choose. If Yue Dian Li gives up development and purchasing, Guangkong Group will join Yue Dian Li under the situation that the project is completed and put into production, and that the purchase is done and the project meets the conditions of listing.For details, see June 5, 2014, published in the designated med 6 广东电力发展股份有限公司 2015 年第一季度报告全文 ia "Announcement of Guangdong Electric Power D evelopment Co.,Ltd. matters related to commitme nts". Commitments made upon issuance Other commitments made to minority shareholders Executed timely or Yes not? III.Prediction of Business performance for January- June 2015. Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the warning of its material change compared with the corresponding period of the last year and explanation of reason. □Applicable √Not applicable IV. Securities investment Number Shareho Shareho of Number lding lding Book shares of proporti proporti balance Gain. Initial held at shares on at the on at the at the loss of Stock investm the held at Account Sauce Security Stock beginnin end of end of the Abbreviat ent beginnin the end ing of the category Code g of the the the reportin ion cost(RM g of the of the items shares reportin reportin reportin g period B) reportin reportin g g g period (RMB) g g period period( period( (RMB) period(s (shares) %) %) hares) 15,890,62 112,812,0 Financial Shen 8.00 00.00 assets a Stock 000027 Energy 8,400,000 0.32% 8,400,000 0.32% 0.00 Initiated vailable f A or sale 235,837,9 437,594,1 Finan 87.50 30.00 cial SHENER 55,532,25 55,532,25 Transfere Stock 600642 1.22% 1.22% 0.00 assets GY 0 0 e avail able 7 广东电力发展股份有限公司 2015 年第一季度报告全文 for sale 251,728,6 63,932,25 63,932,25 550,406,1 Total -- -- 0.00 -- -- 15.50 0 0 30.00 V. The registration form of acceptance of investigation, communication and interview in the report period for future reference Date Place Mode Type Visitor Content of discussion and materials provided CITIC The company's current production of operation Office of the Onsite Securities and January 28, 2015 Organization conditions and the situation of the construction Company investigation other joint and development projects research 8 广东电力发展股份有限公司 2015 年第一季度报告全文 IV. Financial statement 一、 Financial statement 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 5,013,216,149.00 4,548,277,314.00 Settlement provision Outgoing call loan Trading financial assets Bill receivable Account receivable 2,478,124,662.00 2,580,733,823.00 Prepayments 1,633,342,029.00 1,529,371,276.00 Insurance receivable Reinsurance receivable Provisions of Reinsurance contracts receivable Interest receivable 5,633,629.00 5,471,097.00 Dividend receivable Other account receivable 118,021,897.00 214,346,505.00 Repurchasing of financial assets Inventories 1,667,649,978.00 1,623,199,010.00 Non-current asset due in 1 year Other current asset 524,031,581.00 704,977,094.00 Total of current assets 11,440,019,925.00 11,206,376,119.00 Non-current assets: Loans and payment on other’s behalf disbursed Disposable financial asset 1,095,006,130.00 997,082,335.00 Expired investment in possess Long-term receivable 122,640,773.00 121,334,809.00 Long term share equity investment 6,331,303,349.00 6,604,709,646.00 Property investment 10,044,532.00 10,203,433.00 9 广东电力发展股份有限公司 2015 年第一季度报告全文 Fixed assets 38,588,910,254.00 39,164,300,297.00 Construction in progress 7,871,987,361.00 6,349,045,387.00 Engineering material 78,940,123.00 6,791,093.00 Fixed asset disposal 17,863,084.00 1,493,296.00 Production physical assets Gas & petrol Intangible assets 1,485,255,005.00 1,487,859,824.00 R & D petrol Goodwill 2,449,886.00 2,449,886.00 Long-germ expenses to be amortized 30,772,411.00 31,000,707.00 Differed income tax asset 60,234,316.00 60,234,315.00 Other non-current asset 3,238,546,405.00 3,041,944,705.00 Total of non-current assets 58,933,953,629.00 57,878,449,733.00 Total of assets 70,373,973,554.00 69,084,825,852.00 Current liabilities Short-term loans 6,589,000,000.00 5,721,000,000.00 Loan from Central Bank Deposit received and hold for others Call loan received Trade off financial liabilities Bill payable 360,479,246.00 321,711,616.00 Account payable 2,352,327,489.00 1,913,294,877.00 Advance payment 234,493.00 179,708.00 Selling of repurchased financial assets Fees and commissions receivable Employees’ wage payable 152,974,016.00 105,824,243.00 Tax payable 411,706,656.00 462,231,344.00 Interest payable 151,567,172.00 214,956,543.00 Dividend payable 7,918,730.00 7,918,730.00 Other account payable 2,220,320,494.00 2,577,102,293.00 Reinsurance fee payable Insurance contract provision Entrusted trading of securities Entrusted selling of securities 10 广东电力发展股份有限公司 2015 年第一季度报告全文 Non-current liability due in 1 year 2,454,287,773.00 4,497,962,344.00 Other current liability 716,878,082.00 808,630,228.00 Total of current liability 15,417,694,151.00 16,630,811,926.00 Non-current liabilities: Long-term loan 22,124,916,646.00 20,614,916,646.00 Bond payable 1,195,315,119.00 1,195,076,905.00 Long-term payable 2,788,109,835.00 2,649,435,371.00 Long-term payable employees' remuneration 48,878,075.00 53,839,983.00 Special payable 16,048,105.00 16,192,269.00 Expected liabilities Differed income 95,829,361.00 98,197,020.00 Differed income tax liability 66,359,214.00 42,136,023.00 Other non-current liabilities Total non-current liabilities 26,335,456,355.00 24,669,794,217.00 Total of liability 41,753,150,506.00 41,300,606,143.00 Owners’ equity Share capital 4,375,236,655.00 4,375,236,655.00 Capital reserves 4,998,433,067.00 4,998,433,067.00 Less:Shares in stock Other Comprehensive Income 245,939,249.00 172,496,403.00 Special reserves Surplus reserves 4,810,903,365.00 4,810,903,365.00 Common risk provision Undistributed profit 7,710,986,903.00 6,952,985,107.00 Different of foreign currency translation Total of owner’s equity belong to the parent company 22,141,499,239.00 21,310,054,597.00 Minority shareholders’ equity 6,479,323,809.00 6,474,165,112.00 Total of owners’ equity 28,620,823,048.00 27,784,219,709.00 Total of liabilities and owners’ equity 70,373,973,554.00 69,084,825,852.00 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 Unit:RMB Items Year-end balance Year-beginning balance 11 广东电力发展股份有限公司 2015 年第一季度报告全文 Current asset: Monetary fund 462,193,635.00 468,233,799.00 Trading financial assets Bill receivable Account receivable 178,392,717.00 233,268,283.00 Prepayments 144,685,683.00 142,923,390.00 Interest receivable 1,518,274.00 1,786,468.00 Dividend receivable Other account receivable 408,789,192.00 360,853,242.00 Inventories 189,661,735.00 110,192,735.00 Non-current asset due in 1 year Other current asset 85,145,999.00 Total of current assets 1,385,241,236.00 1,402,403,916.00 Non-current assets: Disposable financial asset 1,095,006,130.00 997,082,335.00 Expired investment in possess Long-term receivable 400,000,000.00 550,000,000.00 Long term share equity investment 21,818,107,787.00 21,651,878,481.00 Property investment 10,044,533.00 10,203,433.00 Fixed assets 1,194,228,054.00 1,269,105,391.00 Construction in progress 86,973,610.00 43,403,794.00 Engineering material Fixed asset disposal 6,911,960.00 Production physical assets Gas & petrol Intangible assets 98,431,200.00 99,372,754.00 R & D petrol Goodwill Long-germ expenses to be amortized Differed income tax asset Other non-current asset 90,000,000.00 90,000,000.00 Total of non-current assets 24,799,703,274.00 24,711,046,188.00 Total of assets 26,184,944,510.00 26,113,450,104.00 Current liabilities 12 广东电力发展股份有限公司 2015 年第一季度报告全文 Short-term loans 2,600,000,000.00 1,050,000,000.00 Trade off financial liabilities Bill payable Account payable 328,395,676.00 92,264,357.00 Advance payment Employees’ wage payable 25,636,606.00 25,676,736.00 Tax payable 29,999,295.00 46,543,086.00 Interest payable 19,414,758.00 141,345,087.00 Dividend payable 7,918,730.00 7,918,730.00 Other account payable 122,815,362.00 143,109,145.00 Non-current liability due in 1 year 1,999,548,864.00 Other current liability 411,880,822.00 507,146,666.00 Total of current liability 3,546,061,249.00 4,013,552,671.00 Non-current liabilities: Long-term loan 1,500,000,000.00 1,500,000,000.00 Bond payable 1,195,315,119.00 1,195,076,905.00 Long-term payable Long-term payable employees' remuneration 11,047,698.00 11,640,351.00 Special payable 11,297,686.00 11,297,686.00 Expected liabilities Differed income 43,198,463.00 43,105,866.00 Differed income tax liability 57,320,762.00 32,839,813.00 Other non-current liabilities Total of Non-current liabilities 2,818,179,728.00 2,793,960,621.00 Total of liability 6,364,240,977.00 6,807,513,292.00 Owners’ equity Share capital 4,375,236,655.00 4,375,236,655.00 Capital reserves 5,607,138,565.00 5,607,138,564.00 Less:Shares in stock Other Comprehensive Income 245,939,249.00 172,496,403.00 Special reserves Surplus reserves 4,810,903,365.00 4,810,903,365.00 Undistributed profit 4,781,485,699.00 4,340,161,825.00 Different of foreign currency translation 13 广东电力发展股份有限公司 2015 年第一季度报告全文 Total of owners’ equity 19,820,703,533.00 19,305,936,812.00 Total of liabilities and owners’ equity 26,184,944,510.00 26,113,450,104.00 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 Unit:RMB Same period of the Items Report period previous year I. Income from the key business 6,068,031,708.00 7,010,362,960.00 Incl:Business income 6,068,031,708.00 7,010,362,960.00 Interest income Insurance fee earned Fee and commission received II. Total business cost 5,087,326,563.00 6,004,797,388.00 Incl:Business cost 4,474,855,779.00 5,363,797,897.00 Interest expense Fee and commission paid Insurance discharge payment Net claim amount paid Insurance policy dividend paid Insurance policy dividend paid Reinsurance expenses Business tax and surcharge 40,776,196.00 34,399,075.00 Sales expense 458,135.00 626,481.00 Administrative expense 155,667,663.00 164,605,460.00 Financial expenses 415,568,790.00 441,368,475.00 Asset impairment loss Add:Gains from change of fir value (“-”for loss) Investment gain(“-”for loss) 300,897,296.00 139,437,444.00 Incl: investment gains from affiliates Gains from currency exchange(“-”for loss) III. Operational profit(“-”for loss 1,281,602,441.00 1,145,003,016.00 Add:Non-business income 14,795,617.00 8,248,915.00 Less:Non business expenses 407,451.00 23,550,535.00 Incl:Loss from disposal of non-current assets 14 广东电力发展股份有限公司 2015 年第一季度报告全文 IV.Total profit(“-”for loss) 1,295,990,607.00 1,129,701,396.00 Less:Income tax expenses 245,424,599.00 262,158,300.00 V. Net profit(“-”for net loss 1,050,566,008.00 867,543,096.00 Including: Net profit realized by the entity taken over before the takeover Net profit attributable to the owners of parent company 758,001,796.00 587,768,536.00 Minority shareholders’ equity 292,564,212.00 279,774,560.00 VI. Earnings per share: (I)Basic earnings per share 0.17 0.13 (II)Diluted earnings per share 0.17 0.13 VII. Other comprehensive income 73,442,846.00 -4,280,394.00 VIII. Total comprehensive income 1,124,008,854.00 863,262,702.00 Total comprehensive income attributable to the owner of the 831,444,642.00 583,488,142.00 parent company Total comprehensive income attributable minority shareholders 292,564,212.00 279,774,560.00 Legal representative :Pan Li Person-in-charge of the accounting work:Li Xiaoqing Person-in -charge of the accounting organ:Qin Jingdong 4. Profit statement of the Parent Company Unit:RMB Same period of the Items Report period previous year I. Income from the key business 459,873,379.00 529,056,568.00 Incl:Business cost 344,872,267.00 432,035,056.00 Business tax and surcharge 4,259,681.00 4,293,676.00 Sales expense 14,200.00 Administrative expense 27,368,106.00 32,752,232.00 Financial expenses 84,020,004.00 97,832,514.00 Asset impairment loss Add:Gains from change of fir value (“-”for loss) Investment gain(“-”for loss) 443,923,604.00 371,698,035.00 Incl: investment gains from affiliates II. Operational profit(“-”for loss 443,276,925.00 333,826,926.00 Add:Non-business income 12,837.00 1,565,325.00 Less:Non business expenses 3,404,561.00 Incl:Loss from disposal of non-current assets III.Total profit(“-”for loss) 443,289,762.00 331,987,690.00 15 广东电力发展股份有限公司 2015 年第一季度报告全文 Less:Income tax expenses 1,965,888.00 1.00 IV. Net profit(“-”for net loss) 441,323,874.00 331,987,689.00 V. Earnings per share: (I)Basic earnings per share (II)Diluted earnings per share VI. Other comprehensive income 73,442,846.00 -4,280,394.00 VII. Total comprehensive income 514,766,720.00 327,707,295.00 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 Same period of the Items Report period previous year I.Cash flows from operating activities Cash received from sales of goods or rending of services 7,245,394,694.00 8,208,649,887.00 Net increase of customer deposits and capital kept for brother company Net increase of loans from central bank Net increase of inter-bank loans from other financial bodies Cash received against original insurance contract Net cash received from reinsurance business Net increase of client deposit and investment Net increase of trade financial asset disposal Cash received as interest, processing fee and commission Net increase of inter-bank fund received Net increase of repurchasing business Tax returned 598,754.00 4,648,445.00 Other cash received from business operation 54,031,576.00 69,733,058.00 Sub-total of cash inflow 7,300,025,024.00 8,283,031,390.00 Cash paid for purchasing of merchandise and services 3,427,281,465.00 4,513,963,997.00 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 16 广东电力发展股份有限公司 2015 年第一季度报告全文 Cash paid to staffs or paid for staffs 385,764,297.00 373,861,475.00 Taxes paid 715,627,949.00 786,487,279.00 Other cash paid for business activities 119,022,382.00 139,549,343.00 Sub-total of cash outflow from business activities 4,647,696,093.00 5,813,862,094.00 Cash flow generated by business operation, net 2,652,328,931.00 2,469,169,296.00 II.Cash flow generated by investing Cash received from investment retrieving 95,000,000.00 Cash received as investment gains 1,197,000.00 Net cash retrieved from disposal of fixed assets, intangible 72,000.00 assets, and other long-term assets Net cash received from disposal of subsidiaries or other 187,452,822.00 operational units Net cash received from disposal of subsidiaries or other 52,028,777.00 operational units Sub-total of cash inflow due to investment activities 239,553,599.00 96,197,000.00 Cash paid for construction of fixed assets, intangible assets and 1,111,644,626.00 880,197,911.00 other long-term assets Cash paid as investment 12,786,100.00 Net increase of loan against pledge Net cash received from subsidiaries and other operational units Other cash paid for investment activities Sub-total of cash outflow due to investment activities 1,111,644,626.00 892,984,011.00 Net cash flow generated by investment -872,091,027.00 -796,787,011.00 III.Cash flow generated by financing Cash received as investment 30,000,000.00 Incl: Cash received as investment from minor shareholders Cash received as loans 5,492,600,000.00 6,534,085,552.00 Cash received from bond placing Other financing –related ash received 4,990,000.00 Sub-total of cash inflow from financing activities 5,497,590,000.00 6,564,085,552.00 Cash to repay debts 5,950,980,347.00 7,896,890,579.00 Cash paid as dividend, profit, or interests 819,487,417.00 653,637,307.00 Incl: Dividend and profit paid by subsidiaries to minor shareholders Other cash paid for financing activities 42,421,305.00 451,524.00 17 广东电力发展股份有限公司 2015 年第一季度报告全文 Sub-total of cash outflow due to financing activities 6,812,889,069.00 8,550,979,410.00 Net cash flow generated by financing -1,315,299,069.00 -1,986,893,858.00 IV. Influence of exchange rate alternation on cash and cash equivalents V.Net increase of cash and cash equivalents 464,938,835.00 -314,511,573.00 Add: balance of cash and cash equivalents at the beginning of 4,548,277,314.00 4,377,311,176.00 term VI.Balance of cash and cash equivalents at the end of term 5,013,216,149.00 4,062,799,603.00 Legal representative :Pan Li 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 Unit:RMB Same period of the Items Report period previous year I.Cash flows from operating activities Cash received from sales of goods or rending of services 597,584,728.00 615,900,936.00 Tax returned 132,753.00 Other cash received from business operation 6,943,410.00 9,405,959.00 Sub-total of cash inflow 604,660,891.00 625,306,895.00 Cash paid for purchasing of merchandise and services 134,424,763.00 106,827,393.00 Cash paid to staffs or paid for staffs 78,084,538.00 86,813,682.00 Taxes paid 66,715,695.00 48,958,620.00 Other cash paid for business activities 12,503,020.00 18,597,782.00 Sub-total of cash outflow from business activities 291,728,016.00 261,197,477.00 Cash flow generated by business operation, net 312,932,875.00 364,109,418.00 II.Cash flow generated by investing Cash received from investment retrieving 519,600,000.00 345,000,000.00 Cash received as investment gains 206,724,177.00 6,130,400.00 Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets Net cash received from disposal of subsidiaries or other 187,452,822.00 operational units Other cash receivable for investment activities Sub-total of cash inflow due to investment activities 913,776,999.00 351,130,400.00 Cash paid for construction of fixed assets, intangible assets and 28,880,634.00 41,248,413.00 other long-term assets 18 广东电力发展股份有限公司 2015 年第一季度报告全文 Cash paid as investment 450,000,000.00 112,706,100.00 Net cash received from subsidiaries and other operational units Other cash paid for investment activities Sub-total of cash outflow due to investment activities 478,880,634.00 153,954,513.00 Net cash flow generated by investment 434,896,365.00 197,175,887.00 III.Cash flow generated by financing Cash received as loans Cash received from bond placing 2,100,000,000.00 950,000,000.00 Other financing –related ash received Sub-total of cash inflow from financing activities Cash to repay debts 2,100,000,000.00 950,000,000.00 Cash paid as dividend, profit, or interests 2,649,999,300.00 1,360,000,000.00 Other cash paid for financing activities 203,655,357.00 245,727,053.00 Sub-total of cash outflow due to financing activities 214,747.00 314,742.00 Net cash flow generated by financing 2,853,869,404.00 1,606,041,795.00 IV. Influence of exchange rate alternation on cash and cash -753,869,404.00 -656,041,795.00 equivalents V.Net increase of cash and cash equivalents Add: balance of cash and cash equivalents at the beginning of -6,040,164.00 -94,756,490.00 term VI.Balance of cash and cash equivalents at the end of term 468,233,799.00 296,476,854.00 462,193,635.00 201,720,364.00 Legal representative :Pan Li Person-in-charge of the accounting work:Li Xiaoqing Person-in -charge of the accounting organ:Qin Jingdong 二、 Auditor's report If the interim report is audited □ Yes√ No 19