Guangdong Electric Power Development Co., Ltd. Quarterly Report for the Fist Quarterly of 2009
Guangdong Electric Power Development Co., Ltd.
The First Quarterly Report 2009
§1 Important notes
1.1 The Board of Directors, Supervisory Committee, Directors , Supervisors, Senior Executives of the Company hereby warrant 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.
1.2 Other directors attended the meeting on examining the Annual except for the following directors.
Name absent director
Title
Reason of absence
Name of entrusted
Deng An
Director
Due to business
Hong Rongkun
Wu Bin
Director
Due to business
Yao Jiheng
Wu Xu
Director
Due to business
Sha Qilin
Yang Zhishan
Independent Director
Due to business
Zhang Yao
1.3 The financial report of the Company in this Quarterly report period has not been audited.
1.4 Chairman of the Board of Directors, Pan Li, General Manager, Liu Luoshou , Financial Deputy General Manager, Li Xiaoqing and
Financial Manager ,Liu Xuemao represent and warrant the financial and accounting report in the Quarterly report is true and complete.
English translation for reference only. Should there be any inconsistency between the Chinese and English versions, the Chinese version
shall prevail.
§2 Basic Information
2.1 Main accounting Highlights and financial indexes
Unit：RMB
At the end of the report period
At the end of the last year
Increase/decrease of the end of report period than that of the end of the last year(%)
Total assets
25,490,649,650.80
24,629,209,772.00
3.50%
Owner’s equity attributable to the parent company
8,575,372,766.44
8,438,837,768.00
1.62%
Stock capital
2,659,404,000.00
2,659,404,000.00
Net assets per share attributable to the parent company
3.22
3.17
1.58%
Amount of current period
Amount of the same period in last year
Increase /decrease（％）
Total turnover
2,479,917,477.67
2,985,130,629.28
-16.92%
Net profit attributable to owners of parent company
51,244,866.05
2,011,995.40
2,446.97%
1Guangdong Electric Power Development Co., Ltd. Quarterly Report for the Fist Quarterly of 2009
Net cash flow arising from operating activities
424,599,918.44
-144,583,402.19
393.67%
Net cash flow per share arising from operating activities
0.160
-0.054
396.30%
Basic earnings per share
0.02
0.0008
2,400.00%
Diluted earnings per share
0.02
0.0008
2,400.00%
Return on net assets
0.60%
0.02%
0.58%
Return on net assets after deducting non-recurring gains and losses
0.57%
0.03%
0.54%
Items of non-current gains and losses
Year begin to end of report period
Non-operating income
18,070.97
Non-operating expenses
-477,686.30
Income of commission loans
2,720,250.00
Total
2,260,634.67
Explanation Items of non-current gains and losses：
Regarding the income from entrusted loan, the Company collected interest for the loan extended by
Industrial Bank to Weixin Yuntou Zhaxi Energy Company for the first quarter of 2009.
2.2 Total number of shareholders in the end of the report period and shares held by the top ten
shareholders with unrestricted conditions
Unit：shares
Total number of shareholders in the end of the report period
139,938
Share held by the top ten shareholders with unrestricted conditions
Name of shareholder
Amount of unrestricted shares held
Type of shares
Guangdong Yudean Group Co., Ltd.
1,232,256,158
RMB common shares
Shenzhen Guangfa Electric Power Investment Co., Ltd.
101,777,185
RMB common shares
Guangdong Electric Power Development Company
78,639,451
RMB common shares
China Xinda Asset Management Company
41,528,500
RMB common shares
Boshi Increase securities Investment Fund
26,000,000
RMB common shares
Guangdong Guangkong Group Co., Ltd.
24,130,428
RMB common shares
Agricultural Bank－Changsheng Tongde Rise stock securities investment funds
23,893,242
RMB common shares
102 Portfolio of National Social Security Fund
21,004,181
RMB common shares
China Merchants Bank－Everbright Prarnerica Configuration advantages Stock Securities Investment Fund
17,480,483
RMB common shares
NAITO SECURITIES CO., LTD
17,176,623
Foreign shares placed in domestic exchange 2Guangdong Electric Power Development Co., Ltd. Quarterly Report
for the Fist Quarterly of 2009
§3 Significant Events
3.1 Particular about large-margin change of main accounting statement item and financial index and its reason.
√ applicable □ not applicable
1. Investment income increased by 310.37% year on year mainly because provision was made for the loss of
Orimulsion Power Plant and the earnings of Shenzhen Guangqian Company and Huizhou Natural Gas Company increased
year on year.
2. Net profit increased 2446.97% year on year mainly due to lowering of operating cost and sharp year-on-
year increase of investment income.
3. Net cash flows from operating activities increased by 393.67% year on year mainly due to decrease of
payment for purchase of fuel.
3.2 Analysis and explanation of significant events and their influence and solutions
□ applicable √not applicable
3.3 The fulfillment of the commitment made by the Company , shareholders and the actual controller
√ applicable □ not applicable
Items
Commitment
Status of fulfillment of commitment
Promise in share holding structure reform
No
No
Commitment of share conditional subscription
No
No
Commitments made in Acquisition Report or Reports on Change in interests
No
No
Commitments made in Material assets Reorganization
No
No
Commitments made in issuing
No
No
Other commitments(Including supplementary commitments)
Maoming Ruineng Thernal Power Co., Ltd., a controlled subsidiary of the Company, signed the agreement for
medium or long term loan in total amount of RMB 650,000,000.00 with shanghai Pudong Development Bank Guangzhou
Branch on March 1, 2002. The Company issued the letter of support of Shanghai Pudong Development Bank Guangzhou
Branch in respect of this loan agreement and made the following commitments:
(1) Unless the lender separately gives written consent, the Company shall keep holding 51% equity of
Maoming Ruineng Thermal power Co., Ltd. Before the day of cancellation, relevant assignment shall first obtain
the lender’s written permission. (2) The Company shall not create , allow creation of or cause any mortgage,
pledge, lien or other security interest in respect of the shareholders’ equity of Maoming Ruineng Thermal
Power Co., Ltd, directly or indirectly held. (3) Unless compelled by the law, the Company , as one of project
investors, shall not change the borrower’s articles of association with other project investors without the
written consent of the lender.
Have been implemented 3Guangdong Electric Power Development Co., Ltd. Quarterly Report for the Fist
Quarterly of 2009
3.4 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
3.5 Major events needs to be explained
3.5.1 Investment in securities
□ applicable √not applicable
3.5.2 Reception of investigations , communications , or interviews
Reception
Place
Mode
Object
Discussion issue and offered information
February 19,
2009
Office of the Company
Onsite investigation
Guangzhou Securities
The production and operation status of the Company in the current period
February 25,
2009
Office of the Company
Onsite investigation
Shenyin & Wanguo Securities Co., Ltd.
The production and operation status of the Company in the current period
March 3,
2009
Office of the Company
Onsite investigation
Lianhe Securities
The production and operation status of the Company in the current period
March 31,
2009
Office of the Company
Onsite investigation
Client of Zhongji Company
The production and operation status of the Company in the current period
3.5.3 Explanation of other significant events
□ applicable √not applicable
§4 Appendix
4.1 Balance sheet（Domestic statement）
Prepared by Guangdong Electric Power Development Co., Ltd. March 31,2009 Unit：RMB
Amount of period-end
Amount of period-begin
Items
Consolidation
Parent Company
Consolidation
Parent Company
Current assets：
Monetary funds
1,139,433,709.21
101,866,251.97
1,481,104,943.00
271,387,003.00
Settlement provisions
Capital lent
Transaction finance assets
Bill receivable
Accounts receivable
2,059,014,038.32
478,659,214.55
1,625,683,637.00
443,213,194.00
Accounts in advance
593,968,206.56
169,424,844.50
550,523,143.00
169,853,974.00
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Interest receivable
1,092,000.00
4Guangdong Electric Power Development Co., Ltd. Quarterly Report for the Fist Quarterly of 2009
Dividend receivable
9,155,095.59
9,155,095.00
Other receivables
451,179,776.67
402,882,776.26
426,364,995.00
405,426,809.00
Purchase restituted finance assets
Inventory
680,832,654.11
159,070,713.51
929,074,892.00
192,106,448.00
Non-current assets due within one year
60,304,244.00
60,304,244.00
60,304,244.00
60,304,244.00
Other current assets
709,352.15
Total current assets
4,985,441,981.02
1,381,363,140.38
5,074,147,854.00
1,551,446,767.00
Non-current assets：
Granted loans and advances
Finance assets available sales
392,389,095.00
392,389,095.00
278,668,785.00
278,668,785.00
Held-to maturity securities
Long-term account receivable
Long-term equity investment
4,352,972,086.23
9,307,622,539.21
3,803,201,769.00
8,757,852,222.00
Investment property
13,850,949.89
13,850,949.89
14,009,108.00
14,009,108.00
Fixed assets
12,878,017,645.11
1,494,326,071.45
13,177,481,183.00
1,544,905,591.00
Construction in progress
955,155,686.84
76,375,698.76
833,663,354.00
71,695,662.00
Engineering material
1,276,192,194.97
819,507,463.00
Disposal of fixed assets
6,092,204.41
6,265.97
Consumable biological assets
Oil and gas assets
Intangible assets
382,475,143.46
117,409,074.36
386,543,133.00
118,278,771.00
Expense on research and development
Goodwill
Long-term expenses to be apportioned
Deferred income tax assets
248,062,663.87
36,145,155.68
241,987,123.00
38,140,362.00
Other non-current assets
Total non-current assets
20,505,207,669.78
11,438,124,850.32
19,555,061,918.00
10,823,550,501.00
Total assets
25,490,649,650.80
12,819,487,990.70
24,629,209,772.00
12,374,997,268.00
Current liabilities：
Short-term loans
4,583,595,720.14
2,219,000,000.00
3,814,000,000.00
1,849,000,000.00
Loan form central bank
Absorbing deposit and interbank deposit
Capital borrowed
Transaction financial liabilities
Bill payable
100,000,000.00
Accounts payable
871,142,442.25
207,667,725.61
1,003,099,340.00
182,127,929.00
Accounts received in advance
477.00
71,414.00
Selling financial assets of repurchase
Commission charge and commission payable
Wage payable
273,478,478.53
96,851,822.07
253,829,330.00
89,059,740.00
Taxes payable
78,796,108.11
13,359,334.82
44,750,977.00
33,683,163.00
5Guangdong Electric Power Development Co., Ltd. Quarterly Report for the Fist Quarterly of 2009
Interest payable
18,260,205.86
11,793,716.67
101,807,498.00
93,045,000.00
Dividend payable
12,282,152.14
7,352,485.29
45,682,843.00
7,429,962.00
Other accounts payable
840,013,520.92
93,392,513.05
818,143,170.00
116,732,935.00
Reinsurance payables
Insurance contract reserve
Security trading of agency
Security sales of agency
Long-term liabilities due within1 year
220,660,000.00
220,660,000.00
Other current liabilities
Total current liabilities
6,998,229,104.95
2,649,417,597.51
6,302,044,572.00
2,371,078,729.00
Non-current liabilities：
Long-term loans
5,181,560,000.00
5,178,560,000.00
Bonds payable
1,984,010,620.81
1,984,010,620.81
1,983,335,013.00
1,983,335,013.00
Long-term accounts payable
Special accounts payable
Projected liabilities
Deferred income tax liabilities
39,397,748.43
35,165,120.19
10,967,671.00
6,735,043.00
Other non-current liabilities
30,769,231.00
30,769,231.00
30,769,231.00
30,769,231.00
Total non-current liabilities
7,235,737,600.24
2,049,944,972.00
7,203,631,915.00
2,020,839,287.00
Total liabilities
14,233,966,705.19
4,699,362,569.51
13,505,676,487.00
4,391,918,016.00
Owner’s equity(or shareholder’s equity)：
Share capital
2,659,404,000.00
2,659,404,000.00
2,659,404,000.00
2,659,404,000.00
Capital public reserve
1,502,970,680.24
1,488,722,123.38
1,417,680,448.00
1,403,431,891.00
Less：Inventory shares
Surplus public reserve
3,159,617,943.98
3,159,617,943.98
3,159,617,944.00
3,159,617,944.00
Provision of general risk
Retained profit
1,253,380,142.22
812,381,353.83
1,202,135,376.00
760,625,417.00
Balance difference of foreign currency translation
Total owner’s equity attributable to parent company
8,575,372,766.44
8,120,125,421.19
8,438,837,768.00
7,983,079,252.00
Minority interests
2,681,310,179.17
2,684,695,517.00
Total owner’s equity
11,256,682,945.61
8,120,125,421.19
11,123,533,285.00
7,983,079,252.00
Total liabilities and owner’s equity
25,490,649,650.80
12,819,487,990.70
24,629,209,772.00
12,374,997,268.00
4.2 Profit statement（Domestic statement）
Prepared by Guangdong Electric Power Development Co., Ltd. March 31,2009 Unit：RMB
This period
Same period of last year
Items
Consolidation
Parent Company
Consolidation
Parent Company
I. Total operating income
2,479,917,477.67
572,563,134.51
2,985,130,629.28
712,819,569.41
Including：Operating income
2,471,534,254.48
565,227,368.07
2,974,992,111.90
703,198,872.53
Interest income
Insurance gained
Commission charge and
6Guangdong Electric Power Development Co., Ltd. Quarterly Report for the Fist Quarterly of 2009
commission income
II. Total operating cost
2,479,614,779.09
567,578,843.51
2,927,980,514.42
675,135,705.64
Including：operating cost
2,211,056,434.09
481,850,433.53
2,629,893,800.01
580,482,256.52
Interest expense
Commission charge and commission expense
Cash surrender value
Net amount of expense of compensation
Net amount of withdrawal of insurance contract reserve
Bonus expense of guarantee slip
Reinsurance expense
Operating tax and extras
7,508,852.23
13,643,834.23
Sales expenses
Administration expenses
110,842,747.32
31,684,023.64
128,614,604.54
42,602,997.72
Financial expenses
141,526,992.27
47,748,705.64
133,895,417.19
43,569,548.74
Losses of devaluation of assets
1,941,312.11
Add：changing income of fair value
Investment income
49,397,316.77
49,397,316.77
-23,480,821.40
-23,480,821.40
Including：Investment income on affiliated company and joint venture
49,397,316.77
49,397,316.77
-23,480,821.40
-23,480,821.40
Exchange income
III.Operating profit
49,700,015.35
54,381,607.77
33,669,293.46
14,203,042.37
Add：non-operating income
32,998.62
4,798.62
46,691.93
35,451.93
less：non-operating expense
638,265.07
635,265.07
1,228,780.87
1,220,802.55
including：disposal loss of non-current assets
16,654.44
15,250.00
IV. Total profit
49,094,748.90
53,751,141.32
32,487,204.52
13,017,691.75
Less：expense of income tax
1,235,320.38
1,995,206.13
25,561,461.01
7,333,246.67
V. Net profit
47,859,428.52
51,755,935.19
6,925,743.51
5,684,445.08
Net profit attributable to owner’s equity of parent company
51,244,866.05
51,755,935.19
2,011,995.40
5,684,445.08
Minority shareholders’ gains and losses
-3,385,437.53
4,913,748.11
VI. Earnings per share
（i）basic earnings per share
0.02
0.0008
（ii）Diluted earnings per share
0.02
0.0008
4.3 Cash Flow Statement（Domestic statement）
Prepared by Guangdong Electric Power Development Co., Ltd. March 31,2009 Unit：RMB
This period
Same period of last year
Items
Consolidation
Parent Company
Consolidation
Parent Company
I. Cash flows arising form
7Guangdong Electric Power Development Co., Ltd. Quarterly Report for the Fist Quarterly of 2009
operating activities:
Cash received from selling commodities and providing labor services
2,465,910,946.07
635,019,950.00
2,359,382,997.04
680,882,296.08
Net increase of customer deposit and interbank deposit
Net increase of loan form central bank
Net increase of capital borrowed from other financial institution
Cash received from original insurance contract fee
Net cash received from reinsurance business
Insured savings and net increase of investment
Net increase of disposal of transaction financial assets
Cash received form interest, commission charge and commission
Net increase of capital borrowed
Net increase of returned business capital
Write-back of tax received
Other cash received concerning operating activities
10,191,850.33
1,143,924.43
13,472,326.00
7,145,127.89
Subtotal of cash inflow
2,476,102,796.40
636,163,874.43
2,372,855,323.04
688,027,423.97
Cash paid for purchasing commodities and receiving labor service
1,650,814,830.67
382,345,719.96
1,962,897,903.07
550,353,348.35
Net increase of customer loans and advances
Net increase of deposits in central bank and interbank
Cash paid for original insurance contract compensation
Cash paid for interest, commission charge and commission
Cash paid for bonus of guarantee slip
Cash paid to/for staff and worker
197,334,221.71
76,705,064.04
147,153,053.09
52,866,782.77
Taxes paid
137,573,307.91
58,098,914.72
315,957,258.18
79,993,143.01
Other cash paid concerning operating activities
65,780,517.67
16,704,647.94
91,430,510.89
24,531,058.15
Subtotal of cash outflow
2,051,502,877.96
533,854,346.66
2,517,438,725.23
707,744,332.28
Net cash flows arising form operating activities
424,599,918.44
102,309,527.77
-144,583,402.19
-19,716,908.31
II. Cash flows arising form investing activities
Cash received form recovering
430,124.50
430,124.50
8Guangdong Electric Power Development Co., Ltd. Quarterly Report for the Fist Quarterly of 2009
investment
Cash received form investment income
3,927,000.00
3,927,000.00
3,103,879.87
3,103,879.87
Net cash received form disposal of fixed , intangible and other long-term assets
41,500.00
41,500.00
Net cash received from disposal of subsidiaries and other units
Other cash received concerning investing activities
262,061.97
110,251.04
10,251.04
Subtotal of sash inflow
4,189,061.97
3,927,000.00
3,685,755.41
3,585,755.41
Cash paid for purchasing fixed, intangible and other long-term assets
684,562,169.54
11,882,557.20
211,956,893.97
49,503,184.32
Cash paid for investment
504,810,000.00
504,800,000.00
5,945,000.00
5,695,000.00
Net increase of mortgaged loans
Net cash received from subsidiaries and other units
Other cash paid concerning investing activities
23,425,727.86
18,108,755.30
3,525,559.26
Subtotal of cash outflow
1,212,797,897.40
516,682,557.20
236,010,649.27
58,723,743.58
Net cash flows arising from investing activities
-1,208,608,835.43
-512,755,557.20
-232,324,893.86
-55,137,988.17
III. Cash flows arising from financing activities
Cash received from absorbing investment
1,987,900,000.00
1,987,900,000.00
Including：Cash received from absorbing minority shareholders’ investment by subsidiaries
Cash received from loans
1,865,000,000.00
690,000,000.00
960,000,000.00
500,000,000.00
Cash received from issuing bonds
Other cash received concerning financing activities
92,872.05
846,018.42
Subtotal of cash inflow
1,865,092,872.05
690,000,000.00
2,948,746,018.42
2,487,900,000.00
Cash paid form settling debts
1,142,000,000.00
320,000,000.00
2,493,230,195.02
2,296,431,748.68
Cash paid for dividend and profit distributing or interest paying
280,695,188.64
129,074,721.32
135,554,838.17
48,312,873.36
Including：Dividend and profit of minority shareholder paid by subsidiaries
Other cash paid concerning financing activities
60,000.00
3,450,000.00
3,450,000.00
Subtotal of cash outflow
1,422,755,188.64
449,074,721.32
2,632,235,033.19
2,348,194,622.04
Net cash flows arising from financing activities
442,337,683.41
240,925,278.68
316,510,985.23
139,705,377.96
IV. Influence on cash due to fluctuation in exchange rate
-1,053,093.06
V.Net increase of cash and cash equivalents
-341,671,233.58
-169,520,750.75
-61,450,403.88
64,850,481.48
Add：Balance of cash and cash
1,481,104,942.79
271,387,002.72
2,177,247,839.07
344,795,676.18
9Guangdong Electric Power Development Co., Ltd. Quarterly Report for the Fist Quarterly of 2009
equivalents at the period -begin
VI. balance of cash and cash equivalents at the period-end.
1,139,433,709.21
101,866,251.97
2,115,797,435.19
409,646,157.66
4.4 Auditor’ report
Auditor’s opinions： Unaudited 10
