Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2023
Stock Abbreviation：Yue Dian Li A, Yue Dian Li B Stock Code：000539，200539
Announcement No.：2023-42
Corporate bond code: 149369 Abbreviation of corporate bond:21 Yudean 01
Corporate bond code: 149418 Abbreviation of corporate bond:21 Yudean 02
Corporate bond code: 149711 Abbreviation of corporate bond: 21 Yudean 03
Guangdong Electric power Development Co., Ltd.
Summary of the Semi-Annual Report 2023
I. Important notes
This summary of the Semi-Annual Report is quoted out of the full text of the Semi-Annual Report. Investors
desirous to understand entirely the company's operation results, financial position and future development
planning are advised to carefully read the full text of the Semi-Annual Report which is published in the medium
designated by CSRC.
Other directors attending the Meeting for Semi-annual report deliberation except for the followed:
The name of director who did Position of absent The name of director who
Reason
not attend the meeting in person director was authorized
Mao Qinghan Director Due to business Ma Xiaoqian
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
Shenzhen Stock Exchange
listing
Contact person and
Board secretary Securities affairs Representative
contact manner
Name Liu Wei Huang Xiaowen
35/F, South Tower, Yudean Plaza, No.2 Tianhe 35/F, South Tower, Yudean Plaza, No.2 Tianhe
Address
Road East, Guangzhou,Guangdong Province Road East, Guangzhou,Guangdong Province
Tel (020)87570251 (020)87570251
E-mail liuw@ged.com.cn huangxiaowen@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
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2023
√Yes□ No
Retroactive adjustment or restatement of causes
Accounting policy change
Changes of this
period over same
Same period of last year
Reporting period period of Last
year(%)
Before adjustment After adjustment After adjustment
Operating income（Yuan） 28,340,840,884 22,611,239,733 22,611,239,733 25.34%
Net profit attributable to the shareholders
856,538,633 -1,375,739,165 -1,371,743,904 162.44%
of the listed company（Yuan）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 849,010,727 -1,399,609,834 -1,395,614,573 160.83%
listed company（Yuan）
Cash flow generated by business operation,
2,720,370,016 -208,358,510 -208,358,510 1,405.62%
net（Yuan）
Basic earning per share(Yuan/Share) 0.1631 -0.2620 -0.2613 162.44%
Diluted gains per share(Yuan/Share) 0.1631 -0.2620 -0.2613 162.44%
Weighted average ROE(%) 3.86% -6.23% -6.21% 10.07%
Changed over last
As at the end of the As at the end of last year
year（％）
reporting period
Before adjustment After adjustment After adjustment
Gross assets（Yuan） 143,012,763,745 131,504,274,884 131,623,802,701 8.65%
Net assets attributable to shareholders of
21,153,441,131 20,241,872,479 20,350,293,619 3.95%
the listed company（Yuan）
Reasons of accounting policy change and correction of accounting errors
In 2022, the Ministry of Finance promulgated the Interpretation No.16 of Accounting Standards for
Business Enterprises (CS [2022] No.31) (hereinafter referred to as "Interpretation No.16"). Since January 1,
2023, the company has adopted the accounting treatment provisions in Interpretation No.16 that deferred
income tax related to assets and liabilities arising from a single transaction is not applicable to initial
recognition exemption. For the applicable single transactions that occurred between the beginning of the earliest
period of presentation in the financial statements of the first implementation of Interpretation No.16 and its
implementation date, the company has made adjustments in accordance with regulations; In case of taxable
temporary differences and deductible temporary differences arising from the lease liabilities and right-to-use
assets recognized at the beginning of the earliest period of presentation in the financial statements of
Interpretation No.16 during its implementation for the first time, the company will adjust the initial retained
income and other related financial statement items at the beginning of the earliest period of presentation in the
financial statements according to the cumulative impact.
3. Shareholders and shareholding
In RMB
Total Number of common
Number of shareholders of preferred stocks of which
shareholders at the end of the 101,889 0
voting rights recovered in the report period(If any)
reporting period
Shareholdings of Top 10 shareholders
Number or share
Amount of pledged/frozen
Shareholders Proportion Number of
Nature of
of shares shares held at restricted shares
shareholder State of
held（%） period -end Amount
share
held
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2023
State-owned
Guangdong Energy Group Co., Ltd. 67.39% 3,538,037,181 1,893,374,517
legal person
Guangzhou Development Group Co., State-owned
2.22% 116,693,602 0
Ltd. legal person
Guangdong Electric Power State-owned
1.80% 94,367,341 0
Development Corporation legal person
ICBC－Bank of Communications Domestic Non-
Schroders trend preferred hybrid State owned 0.94% 49,150,299 0
securities investment fund legal person
Domestic
Zheng Jianxiang 0.50% 26,234,500 0
Natural person
VANGUARD TOTAL
Overseas Legal
INTERNATIONAL STOCK INDEX 0.30% 15,855,512 0
person
FUND
Overseas Legal
HKSCC 0.29% 15,306,333 0
person
CHINA INTERNATIONAL CAPITAL
Overseas Legal
CORPORATION HONG KONG 0.29% 15,216,066 0
person
SECURITIES LTD
Bank of Communications Co., Ltd－ Domestic Non-
Yongying long-term value hybrid State owned 0.26% 13,556,677 0
securities investment fund legal person
Overseas Legal
NOMURA SINGAPORE LIMITED 0.24% 12,599,843 0
person
The Third 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
Explanation on shareholders participating in the margin
Not applicable
trading business(if any )
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 short Bond balance (Ten Tradin
Bond name Bond code Issue day Due day
name thousand yuan ) g
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2023
Public Issuance of Corporate
Bonds to Qualified Investors in
2020 (Phase I) of Guandong 20 Yudean
149113.SZ April 29,2020 April 29,2023 0 2.45%
Electric Power Development 01
Co.,Ltd.
Public Issuance of Corporate
Bonds to Qualified Investors in
2021 (Phase I) of Guandong 21 Yudean
149369.SZ January 27,2021 January 27,2024 100,000 3.57%
Electric Power Development 01
Co.,Ltd.
Public Issuance of Corporate
Bonds to Qualified Investors in
2021 (Phase II) of Guandong 21Yudean
149418.SZ April 28,2021 April 28,2026 150,000 3.50%
Electric Power Development 02
Co.,Ltd.
Public Issuance of Corporate
Bonds to Professional Investors in
21Yedean
2021 (Phase I) of Guandong 149711.SZ November 24,2021 November 24,2026 80,000 3.41%
03
Electric Power Development
Co.,Ltd.
Public Issuance of Corporate
Bonds to Professional Investors in
21Pinghai
2021 (Phase I) of Guandong 188197.SH June 4,2021 June 5,2023 0 3.57%
01
Huizhou Pinghai Power
Generation Co.,Ltd.
Public Issuance of Green
Corporate Bonds to professional
G23
Investors in 2023(Phase 115042.SH March 21,2023 March 21,2028 60,000 3.15%
Yuefeng 2
I)(Variety 2) of Guangdong Wind
Power Generation Co., Ltd.
（2） Financial indicators as of the end of the reporting period
In RMBI10,000
Items At the end of the reporting period At the end of last year
Debt ratio 79.68% 78.09%
Net profit after deducting non-recurring
116,044 -215,202
profit and loss
Current ratio 0.65 0.61
Quick ratio 0.54 0.5
Amount of this period Amount of last period At the same time rate of change
EBITDATime interest earned ratio 2.06 -1.02
Repayment of debt (%) 100% 100%
Payment of interest (%) 100% 100%
III. Significant events
In the first half of 2023, affected by economic and other factors, the demand for electricity in Guangdong
Province rose steadily. From January to June, the electricity consumption of the whole society in Guangdong
Province was 382.32 billion kWh, with a year-on-year increase of 7.5%, among which, the electricity
consumption of the industry was 319.90 billion kWh, with a year-on-year increase of 7.0%, and the electricity
consumption of urban and rural residents was 62.42 billion kWh, with a year-on-year increase of 10.0%. During
the reporting period, the company accumulated 53.457 billion kWh of on-grid electricity in consolidated
statements, with a year-on-year increase of 15.34%.
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2023
According to the data of Guangdong Electric Power Trading Center, in 2023, the electricity volume for
bilateral negotiation transactions in Guangdong Province was 242.65 billion kWh, at an average transaction
price of RMB 553.88 per thousand kWh, with a year-on-year increase of 11.44%, and the average price
difference + RMB 0.091 per kWh. In the first half of 2023, the average on-grid tariff of the company's
consolidated statements was RMB 591.86 per thousand kWh (including tax, the same below), with a year-on-
year increase of RMB 49.12 per thousand kWh, or 9.05%.
In the first half of 2023, China's overall economic operation rebounded, power demand continued to grow,
the company's power generation and on-grid electricity consumption increased steadily, and power generation
income increased significantly. Due to the decline in fuel prices, the profitability of the company's thermal
power business has recovered, and its new energy business has maintained stable income. The company's
overall performance in the first half of 2023 has turned losses into profits. During the reporting period, the
company realized a net profit of RMB 856.54 million, with a year-on-year increase of 2,228.28 million. The
company realized a net profit attributed to parent company of RMB 207.02 million in coal-fired power business;
254.18 million in gas and electricity business; RMB -23.96 million in hydropower business; RMB 301.46
million in new energy business; and RMB 570.12 million in headquarters investment business.
As of the end of June 30,2023, the company has controllable installed capacity of 31.5117 million
kilowatts, including holding installed capacity of 29.7639 million kilowatts and equity participation installed
capacity of 1.7478 million kilowatts. Including: the holding installed capacity for coal-fired power generation of
20.55 million kilowatts and 69.04%; the holding installed capacity for gas and electricity of 6.392 million
kilowatts and21.48% and renewable energy generation like wind power, photovoltaic, hydropower and biomass
of 2.8219 million kilowatts and 9.48%.in addition, The entrusted installed capacity of the company for
management is 8.854 million kilowatts (including 6.65 million kilowatts of thermal power and 2.204 million
kilowatts of hydropower). The above controllable installed capacity and entrusted installed capacity for
management totaled 40.0537 million kilowatts.
As of the end of June 2023, the company has an installed capacity of 8 million kilowatts of coal and
electricity under construction, approximately 5.455 million kilowatts of gas and electricity under construction,
approximately 4.42 million kilowatts of new energy under construction, and approximately 11.8 million
kilowatts of new energy projects that have been registered and approved. In the future, the company will adhere
to new development concepts, continue to promote the optimization and adjustment of power supply structure,
actively integrate into the construction of Guangdong Hong Kong Macao Greater Bay Area, Shenzhen Pilot
Demonstration Zone, and Guangdong's "One Core, One Belt, One Zone" development, actively respond to
China's carbon peak and carbon neutrality "30.60" goals, and vigorously promote the company's energy clean
and low-carbon transformation.
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