Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2021 Stock code: 000539,200539 Stock Abbreviation: Yue Dian Li A, Yue Dian Li B Announcement No.: 2021-58 Corporate bond code: 149113 Abbreviation of corporate bond:20 Yudean 01 Corporate bond code: 149369 Abbreviation of corporate bond:21 Yudean 01 Corporate bond code: 149418 Abbreviation of corporate bond:21 Yudean 02 Guangdong Electric power Development Co., Ltd. Summary of the Semi-Annual Report 2021 I. Important notes The summary is abstract from full-text of the semi-annual report, for more details information , investors should found in the full-text of the semi-annual report that published on website of Shenzhen Stock Exchange and other website appointed by CSRC. Directors other than the following ones have attended the Board meeting to review the Semi-annual report. Name of absent director Position of absent director Reason Name of proxy Mao Qinghan Director Due to business Wang Xi Shen Hongtao Independent director Due to business Wang Xi Li Fangje Director Due to business Li Baobing 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 Stock abbreviation Yue Dian Li A, Yue Dian Li B Stock code 000539,200539 Stock exchange for listing Shenzhen Stock Exchange Contact person and contact manner Board secretary Securities affairs Representative Name Liu Wei Qin Xiao 35/F, South Tower, Yudean Plaza, No.2 36/F, South Tower, Yudean Plaza, No.2 Address Tianhe Road East, Guangzhou,Guangdong Tianhe Road East, Guangzhou,Guangdong Province Province Tel (020)87570251 (020)87570251 E-mail liuw@ged.com.cn qinxiao@ged.com.cn 2. Major accounting data and financial indicators May the Company make retroactive adjustment or restatement of the accounting data of the previous years □ Yes√ No 1 Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2021 Same period of last Reporting period YoY+/-(%) year Operating income(RMB) 17,781,521,221 12,539,917,823 41.80% Net profit attributable to the shareholders 109,028,853 813,684,495 -86.60% of the listed company(RMB) Net profit after deducting of non-recurring gain/loss attributable to 90,377,204 784,542,709 -88.48% the shareholders of listed company (RMB) Cash flow generated by business 3,096,857,643 4,018,221,897 -22.93% operation, net(RMB) Basic earning per share(RMB/Share) 0.0208 0.1550 -86.60% Diluted gains per 0.0208 0.1550 -86.60% share(RMB/Share)(RMB/Share) Weighted average ROE(%) 0.40% 3.03% -2.63% As at the end of the As at the end of last YoY+/-(%) reporting period year Gross assets (RMB) 92,331,563,629 85,970,818,168 7.40% Net assets attributable to shareholders of 26,933,339,749 27,369,995,422 -1.60% the listed company (RMB) 3. Shareholders and shareholding In shares Number of shareholders of Total Number of common preferred stocks of which voting shareholders at the end of 90,117 0 rights recovered in the report the reporting period period(If any) Shareholdings of Top 10 shareholders Amount of Number or share Shareholders Proportion Number of pledged/frozen Nature of of shares shares held at restricted shares shareholder Amoun held(%) period -end State of share held t State-owned legal Guangdong Energy Group Co., Ltd. 67.39% 3,538,005,285 1,893,342,621 person Guangzhou Development Group State-owned legal 2.22% 116,693,602 Co., Ltd. person State-owned legal China Securities Finance Co., Ltd. 1.93% 101,323,877 person Guangdong Electric Power State-owned legal 1.80% 94,367,341 Development Corporation person Domestic Natural Li Zhuo 1.32% 69,463,211 person Domestic Natural Zheng Jianxiang 0.48% 25,128,874 person Domestic Harbin Hali Industry Co., Ltd. Non-State owned 0.48% 25,030,385 legal person VANGUARD TOTAL Overseas Legal INTERNATIONAL STOCK 0.30% 15,855,512 person INDEX FUND CHINA INT'L CAPITAL CORP Overseas Legal 0.29% 15,216,066 HONG KONG SECURITIES LTD person Harbin Daoli District Charity Domestic 0.26% 13,659,108 2 Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2021 Foundation Non-State owned legal person The fourth largest shareholder Guangdong Electric Power Development Explanation on associated relationship among the Corporation is the wholly-owned subsidiaries of the largest shareholder aforesaid shareholders Energy Group. These two companies have relationships; whether the other shareholders have relationships or unanimous acting was unknown The Fifth largest shareholder Li Zhuo holds 1,307,620 A shares of the Company through A shares ordinary stock account, and holds68,155,591A shares of the Company through stock account with credit transaction and guarantee. hold 69,463,211 shares of the Company's stock totally. Explanation on shareholders participating in the margin trading business(if any ) The Seventh largest shareholder Harbin Hali Industry Co., Ltd. holds300 A shares of the Company through A shares ordinary stock account, and holds25,030,085A shares of the Company through stock account with credit transaction and guarantee, hold 25,030,385 shares of the Company's stock totally. 4. Change of the controlling shareholder or the actual controller Change of the controlling shareholder in the reporting period □ Applicable √ Not Applicable There was no any change of the controlling shareholder of the Company in the reporting period. Change of the actual controller in the reporting period □ Applicable √ Not applicable There was no any change of the actual controller of the Company in the reporting 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 that existed on the date when this Report was authorized for issue √Applicable□ Not applicable (1)Basic information of corporate bonds Bond balance Bond short Bond name Bond code Issue day Due day (Ten Interest rate name thousand yuan ) Public Issuance of Corporate Bonds to Qualified Investors in 2020 (Phase I) of 20 Yudean 149113.SZ April 29,2020 April 29,2025 150,000 2.45% Guandong Electric Power Development 01 Co.,Ltd. Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase I) of 21 Yudean January 149369.SZ January 27,2021 100,000 3.57% Guandong Electric Power Development 01 27,2024 Co.,Ltd. Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase II) of 21Yudean 149418.SZ April 28,2021 April 28,2026 150,000 3.50% Guandong Electric Power Development 02 Co.,Ltd. Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase I) of 21 Pinghai 188197.SH June 4,2021 June 4,2023 20,000 3.57% Guangdong Pinghai Power Generation 01 Plant Co., Ltd. 3 Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2021 Guangdong Provincial Expressway Deve 21 Yeduan lopment Co., Ltd.2021 first phase Ultra FA SCP 012100376 January 26,2021 July 23,2021 80,000 2.65% -short term financing bills 001 Guangdong Provincial Expressway Deve 18 Yeduan August 27,20 lopment Co., Ltd. 2018 first phase mediu FA MT 101800948 August 27,2018 80,000 4.19% 21 m-term notes N001 (2)Main accounting data and financial indicators of the Company in recent two years by the end of the reporting period In RMB 10,000 Items At the end of the reporting period At the end of last year Debt ratio 62.05% 56.62% Items At the end of the reporting period At the end of last year EBITDATime interest earned ratio 3.85 5.62 III. Significant events In the first half of 2021, the domestic macro-economy has been operated steadily and improved, and the industrial electricity demand has been picked up rapidly. The electricity consumption of the whole society in Guangdong Province was 364.339 billion kWh, a sharp increase of 22.89% YOY. From January to June 2021, the Company completed 44.757 billion kilowatt-hours of on-grid electricity, an increase of 43.07% YOY. The average utilization hours of the holding coal-fired units by the Company were 2,371 hours, an increase of 607 hours YOY. In 2021, the scale of market-oriented transactions in Guangdong Province will continue to expand. According to the data released by the Guangdong Power Exchange Center, the annual bilateral negotiated transaction volume organized by it is 215.11 billion kWh, with an average price difference of -0.0536 RMB/kWh. In the first half of 2021, the monthly centralized bidding transaction electricity volume in Guangdong Province was 36.89 billion kWh, an increase of 274.9% YOY, and the average clearing price difference was -0.0304RMB/kWh. In 2021, the Company’s budgetary on-grid power is 78.469 billion kWh, of which the base power is 7.716 billion kWh-accounting for about 10%; the contracted annual long-term agreement power is 51.070 billion kWh-accounting for about 65%; the remaining part is monthly bidding and power generation rights transferred and spot electricity-accounting for about 25%. In the first half of 2021, the average price of electricity sold by the consolidated statement was 440.05 yuan/K kWh (tax included, the same below), a YOY decrease of 2.41 yuan/K KWh. In the first half of 2021, benefiting from the gradual recovery of the domestic macro-economy and the increase in total social electricity demand, the Company's on-grid electricity increased by 43% YOY in the first half of the year. However, due to the increase in bulk commodity prices, the cost of coal and gas power generation fuels increased significantly YOY, plus the influence of factors such as the lowering of the benchmark on-grid price of natural gas, the increase in market transaction electricity and the power spot trial operation, the gross profit margin of the main business fell by 13.64% YOY, and the semi-annual performance fell YOY. As of June 30, 2021, the total assets in the Company's consolidated statements are 92.331 billion yuan, an increase of 7.40% from the beginning of the year; the equity attributable to shareholders of the parent company is 26.933 billion yuan, a YOY decrease of 1.60%. The Company achieved the operating income of 17.781 billion yuan in the consolidated statement, a YOY increase of 41.80%; the net profit attributable to shareholders of the parent company was 109 million yuan, a YOY decrease of 86.60%; the earnings per share were 0.0208 yuan (0.155 yuan in the same period last year). The total liabilities in the Company's consolidated statements amounted to 57.291 billion yuan, and the asset-liability ratio was 62.05%. In the first half of 2021, Guangdong Wind Power Co., Ltd-a wholly-owned subsidiary of the Company-completed the acquisition of Xuwen Wutushan Wind Farm 49,500 kilowatts and Xuwen Dengjiaolou Wind Farm 49,500 kilowatts, completed and put into production of Pingyuan Maoping Project 48,000 kilowatts (passed 240h operation), thus increased a total of 147,000 kilowatts of newly installed capacity. As of June 30, 2021, the 4 Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2021 Company has a controllable installed capacity of 23.473 million kilowatts, a YOY increase of 10.76%, of which the proportion of clean energy increased to 21.2%. In the future, the Company will also adhere to the new development concept, implement the "1+2+3+X" strategy, continue to promote the optimization and adjustment of the power supply structure, and actively integrate into the Guangdong-Hong Kong-Macao Greater Bay Area, the Shenzhen Pilot Demonstration Zone and Guangdong's "One Core, One Belt, One District" Development, actively respond to our country’s carbon peak and carbon neutral "3060" goal, and vigorously promote the Company's clean and low-carbon energy transformation. 5