Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2018
Stock code: 000539,200539 Stock Abbreviation:Yue Dian Li A, Yue Dian Li B
Announcement No.: 2018-43
Guangdong Electric power Development Co., Ltd.
Summary of the Semi-Annual Report 2018
I. Important notes
The summary is abstract from full-text of summary of the semi-annual report, for more details information ,
investors should found in the full-text of summary of the semi-annual report that published on website of
Shenzhen Stock Exchange and other website appointed by CSRC.
Objections of the directors, supervisors and senior management
Name Title Content
Statement
Directors other than the following ones have attended the Board meeting to review the interim report.
Name of absent director Position of absent director Reason Name of proxy
Rao Subo Director Due to busniess Zheng Yunpeng
Wen Lianhe Director Due to busniess Zheng Yunpeng
Wen Shufei Director Due to busniess Li Fangji
Chen Ze Director Due to busniess Wang Jin
Chen Changlai Director Due to busniess Wang Jin
Zhang Xueqiu Director Due to busniess Ma Xiaoqian
Shen Hongtao Independent Director Due to busniess Sha Qilin
Non-standard auditor’s opinion
□ Applicable √Not applicable
Preliminary plan for profit distribution to the common shareholders or turning the capital reserve into the share
capital for the reporting period, which has been reviewed and approved at the board meeting
□ Applicable √Not applicable
The company will distribute no cash dividends or bonus shares and has no reserve capitalization plan.
The preference share profit distribution pre-plan approved by the Board of Directors
□ Applicable √Not applicable
II. Basic information about the company
1. Company profile
Yue Dian Li A, Yue Dian Li
Stock abbreviation Stock code 000539、200539
B
Stock exchange for listing Shenzhen Stock Exchange
Contact person and contact manner Board secretary Securities affairs Representative
Name Liu Wei Qin Xiao
Address 35/F, South Tower, Yudean Plaza, No.2 36/F, South Tower, Yudean Plaza, No.2
Tianhe Road East, Guangzhou,Guangdong Tianhe Road East, Guangzhou,Guangdong
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2018
Province Province
Tel (020)87570276 (020)87570251
E-mail liuw@ged.com.cn qinxiao@ged.com.cn
2. Major accounting data and financial indicators
Does the company adjust retrospectively or restate accounting data of previous years due to change of the
accounting policy or correction of any accounting error?
□ Yes√ No
Reporting period Same period of last year YoY+/-（%）
Operating income（RMB） 13,894,985,179 12,385,486,577 12.19%
Net profit attributable to the shareholders
448,833,518 128,735,725 248.65%
of the listed company（RMB）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 413,141,718 156,802,731 163.48%
listed company（RMB）
Cash flow generated by business operation,
3,795,532,708 1,578,925,284 140.39%
net（RMB）
Basic earning per share(RMB/Share) 0.0855 0.0245 248.98%
Diluted gains per
0.0855 0.0245 248.98%
share(RMB/Share)(RMB/Share)
Weighted average ROE(%) 1.88% 0.55% 1.33%
As at the end of the
As at the end of last year YoY+/-（%）
reporting period
Gross assets (RMB) 72,817,272,539 71,007,415,323 2.55%
Net assets attributable to shareholders of
23,677,112,778 23,695,190,653 -0.08%
the listed company （RMB）
3.Shareholders and shareholding
In Shares
Number of shareholders of
Total Number of common
preferred stocks of which
shareholders at the end of the 97,149 0
voting rights recovered in the
reporting period
report period(If any)
Shareholdings of Top 10 shareholders
Proportio Amount of Number or share
Shareholders Number of shares pledged/frozen
Nature of n of
held at period restricted shares
shareholder shares State of Amou
-end
held（%） share nt
held
State-owned
Guangdong Yudean Group Co., Ltd. 67.39% 3,538,005,285 1,893,342,621
legal person
State-owned
China Securities Finance Co., Ltd. 2.78% 145,748,980
legal person
Guangdong Guangfa Electric Power State-owned
2.22% 116,693,602
Investment Co., Ltd. legal person
Guangdong Electric Power Development State-owned
1.80% 94,367,341
Corporation legal person
Domestic
Harbin Daoli District Charity Foundation Non-State owned 0.76% 39,877,666
legal person
Domestic
Li Zhuo 0.61% 31,820,943
Natural person
National Social Security Fund 103 Domestic 0.48% 24,994,982
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2018
portfolio Non-State owned
legal person
Domestic
Zheng Jianxiang 0.41% 21,766,298
Natural person
Domestic
Harbin Hali Industry Co., Ltd. Non-State owned 0.41% 21,283,765
legal person
CHINA INT'L CAPITAL CORP HONG Overseas Legal
0.29% 15,316,067
KONG SECURITIES LTD person
The fourth largest shareholder Guangdong Electric Power
Development Corporation is the wholly-owned subsidiaries of the
Explanation on associated relationship among the aforesaid
largest shareholder Yudean Group. These two companies have
shareholders
relationships; whether the other shareholders have relationships or
unanimous acting was unknown
The Fifth largest shareholder Harbin Daoli District Charity
Foundation holds507,156 A shares of the Company through stock
account with credit transaction and guarantee and
holds39,370,510,114 A shares through ordinary stock account, hold
39,877,666 shares of the Company's stock totally.
The Sixth largest shareholder Li Zhuo holds313,620 A shares of the
Explanation on shareholders participating in the margin Company through stock account with credit transaction and guarantee
trading business(if any )(See Notes 4) and holds31,507,323 A shares through ordinary stock account,
hold31,820,943 shares of the Company's stock totally;
The Ninth largest shareholder Harbin Hali Industry Co., Ltd.
holds341,120 A shares of the Company through stock account with
credit transaction and guarantee and holds 20,942,645 A shares
through ordinary stock account, hold 21,283,765 shares of the
Company's stock totally.
4.Changing of controlling shareholder and practical controller of the Company.
Change of holding shareholder
□ Applicable √ Not applicable
No change of holding shareholder in the report period.
Change of substantial controller
□ Applicable √ Not applicable
No change of substantial controller in the report period.
5.Number of preference shareholders and shareholdings of top 10 of them
□ Applicable √ Not applicable
No preference shareholders in the reporting period
6.Corporate bonds
Are there any corporate bonds publicly offered and listed on the stock exchange, which were undue before the
approval date of this report or were due but could not be redeemed in full?
Yes
1.Basic information of corporate bonds
Bond balance(ten Interest
Bond name Bond short name Bond code Due day
thousand) rate
2012 Corporate bonds of Guangdong
12 Yudean Bond 112162.SZ March 17,2020 4,030.65 4.95%
ElectricPower DevelopmentCo.,Ltd..
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2018
(2) As at the end of the reporting period , the company's major financial indicators
Ten thousand
As at the end of the reporting
Items As at the end of last year YoY+/-（%）
period
Debt ratio 59.48% 58.17% 1.31%
Items Reporting period Same period of last year YoY+/-（%）
EBITDA interest coverage ratio 2.56 1.7 50.59%
III. Performance discussion & analysis
1．Performance Review for Reporting period
Is the company subject to any disclosure requirements for special industries?
No
During the reporting period, the electricity consumption of the whole society in Guangdong Province was
293.05 billion kwh, an increase of 9.3% YOY, so the growth rate continued to rise. The West-to-east electricity
transmission was 9.27 billion kwh,（The new units in the province are put into production totaling 1.219 million
KWH） the nuclear power and gas power will be increased by 0.6% and 4.8% respectively. the hydropower of the
province fell by 38.7%，the average utilization hours for the company holding coal-fired units are 2214 hours
increased by 255 hours on year-on-year basis.
During the reporting period, thanks to the continuous tightening of power balance, the optimization and
adjustment of fixed assets depreciation period, as well as the better profitability of associates, the company's
profitability has been significantly improved year on year. As of June 2018, the total assets of the Company by
consolidated statements amounted to RMB 72.817 billion, an increase of 2.55% YOY; and the interests
attributable to shareholders of the parent company was RMB 23.676 billion, an decrease of 0.08% YOY. The
company achieved the operating income by consolidated statements of RMB 13.895 billion, an increase of
12.19% YOY; the net profit attributable to shareholders of the parent company was RMB 448 million, a YOY
increase of 248.65%; the earnings per share was RMB 0.0853. The company's liabilities by consolidated
statements totaled to RMB 43.308 billion, with that the asset-liability ratio was 59.48%.
In 2018, the scale of power market transactions in Guangdong Province is expected to reach 160 billion kWh,
accounting for 40% of the province's power generation, up 45% year-on-year, and the transaction scale continues
to expand. The company continues to strengthen marketing, strive for the base electricity, and compete for market
electricity. The subordinate power plants sign a bilateral negotiation transacted electricity quantity of 25.38 billion
kWh, accounting for 23% of the size of the similar market; the market bidding electricity is 4.95 billion kWh,
accounting for 22% of the size of the similar market; the electricity sold by the subsidiary companies accounts for
13.72% of the size of the similar trading market, which continues to stay ahead. The company insists on
carrying out monthly business analysis and benchmarking analysis of technical and economic indicators, insists
on the early warning mechanism for the completion of important indicators, monitors the operation of subordinate
power plants, and urges units with large indicator deviations to propose and implement improvement measures;
meanwhile, for the main business elements, conducts special analysis of electricity and coal consumption,
etc.from time to time, and optimizes business methods. The company actively responds to the tight balance of the
capital market, makes overall planning, and rationally allocates. In the first half of the year, it successfully
registered 4 billion yuan of super & short-term financing and 5 billion yuan of medium-term notes issuing amount
in the Bank of China Market Dealers Association, and under the very tight market funding circumstance, it issued
a super & short-term financing of 500 million yuan at an interest rate of 4.25%.
According to the “Thirteenth Five-Year Development Planning Report” reviewed and approved by the Board of
Directors, the company adheres to the development direction of clean energy. During the reporting period, the
newly added 300,000 kw offshore wind-power project was approved, and the #4 unit (460,000 kW) of Huizhou
Natural Gas Cogeneration Expansion Project and the Zhanjiang Qujie Wind Power Project (49,500 kW) under
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2018
holding and construction by the company were put into operation. Some natural gas projects, wind power projects
and other clean energy projects under key construction by the company have been steadily advanced. Among
them, 25 wind turbines in the Shibanling wind power project in Zhanjiang have been hoisted, and 14 wind
turbines are connected to the grid; the #5 and #6 units of Huizhou Natural Gas Cogeneration Expansion Project is
also scheduled to be put into production during the year.
2.Maters related to financial report
(1) Reason for changes in accounting policies, accounting estimates and accounting methods as compared to the
financial report for the prior year
□ Applicable √ Not applicable
No such cases in the reporting period.
(2) Reason for retrospective restatement to correct major accounting errors during the reporting period
□ Applicable √ Not applicable
No such cases in the reporting period.
(3) Reason for changes in scope of the consolidated financial statements as compared to the financial report for
the prior year
√ Applicable □Not applicable
New Subsidiary Establishment of the Year
Name Business place Registered Nature Registered Proportion Acquired
address capital (%)
Guangdong Zhencheng Energy Maoming, Maoming, Electric
20,000,000 53.29% Invested
Co.,Ltd. Guangdong Guangdong Power
The Board of Directors of Guangdong Electric Power Development Co., Ltd.
Chairman of the board:Wang Jin
August 31,2018
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