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
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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
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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.
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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
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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.
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