Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2020
Stock code: 000539,200539 Stock Abbreviation: Yue Dian Li A, Yue Dian Li B
Announcement No.: 2020-47
Guangdong Electric power Development Co., Ltd.
Summary of the Semi-Annual Report 2020
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.
Directors other than the following ones have attended the Board meeting to review the interim report.
Name of director absent Title for absent director Reasons for absent Attorney
Wang Jin Director Due to business Zheng Yunpeng
Li Fangji Director Due to business Zheng Yunpeng
Chen Ze Director Due to business Rao Subo
Yan Ming Director Due to business Wen Lianhe
Liang Peilu Director Due to business Sha Qilin
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
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
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
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2020
May the Company make retroactive adjustment or restatement of the accounting data of the previous years
□ Yes√ No
Reporting period Same period of last year YoY+/-（%）
Operating income（RMB） 12,539,917,823 12,874,181,250 -2.60%
Net profit attributable to the shareholders
813,684,495 581,569,383 39.91%
of the listed company（RMB）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 784,542,709 588,588,917 33.29%
listed company（RMB）
Cash flow generated by business operation,
4,018,221,897 3,803,441,801 5.65%
net（RMB）
Basic earning per share(RMB/Share) 0.1550 0.1108 39.89%
Diluted gains per
0.1550 0.1108 39.89%
share(RMB/Share)(RMB/Share)
Weighted average ROE(%) 3.03% 2.37% 0.66%
As at the end of the
As at the end of last year YoY+/-（%）
reporting period
Gross assets (RMB) 79,265,582,617 75,472,027,123 5.03%
Net assets attributable to shareholders of
26,356,282,412 26,178,241,077 0.68%
the listed company （RMB）
III. Shareholders and shareholding
In shares
Number of shareholders
of preferred stocks of
Total Number of common shareholders at the end of
94,823 which voting rights 0
the reporting period
recovered in the report
period(If any)
Shareholdings of Top 10 shareholders
Number or share
Proportion of Number of Amount
of
Shareholders Nature of pledged/frozen
shares held shares held at restricted shares
shareholder
（%） period -end State of share Amount
held
Guangdong Energy Group Co., State-owned legal
67.39% 3,538,005,285 1,893,342,621
Ltd. person
China Securities Finance Co., State-owned legal
2.84% 148,862,420
Ltd. person
Guangzhou Development Group State-owned legal
2.22% 116,693,602
Co., Ltd. person
Guangdong Electric Power State-owned legal
1.80% 94,367,341
Development Corporation person
Domestic Natural
Li Zhuo 0.60% 31,756,823
person
Domestic Natural
Zheng Jianxiang 0.45% 23,372,798
person
Domestic
Harbin Hali Industry Co., Ltd. Non-State owned 0.40% 20,942,945
legal person
VANGUARD TOTAL
Overseas Legal
INTERNATIONAL STOCK 0.34% 17,697,397
person
INDEX FUND
CHINA INT'L CAPITAL CORP Overseas Legal 0.29% 15,216,066
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2020
HONG KONG SECURITIES person
LTD
Domestic
Harbin Daoli District Charity
Non-State owned 0.26% 13,667,406
Foundation
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 Energy
aforesaid shareholders Group. These two companies have relationships; whether the other
shareholders have relationships or unanimous acting was unknown
The Fifth largest shareholder Li Zhuo holds 249,500 A shares of the Company
through A shares ordinary stock account, and holds 31,756,823A shares of the
Company through stock account with credit transaction and guarantee.
The Seventh largest shareholder Harbin Hali Industry Co., Ltd. holds300 A
shares of the Company through A shares ordinary stock account, and holds
20,942,645 6A shares of the Company through stock account with credit
Explanation on shareholders participating in the
transaction and guarantee, hold 20,942,945 shares of the Company's stock
margin trading business(if any )(See Notes 4)
totally.
The Tenth largest shareholder Harbin Daoli District Charity Foundation
holds16,800 A shares of the Company through A shares ordinary stock
account, and holds 13,650,606A shares of the Company through stock account
with credit transaction and guarantee, hold 13,667,406 shares of the
Company's stock totally.
IV. 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
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
Bond short balance Interest
Bond name Bond code Issue day Due day
name (Ten rate
thousand )
Public Issuance of Corporate Bonds to
20 Yudean
149113.SZ April 29,2020 April 29,2025 150,000 2.45%
Qualified Investors in 2020 (Phase I) 01
(2) As at the end of the reporting period , the company's major financial indicators
In RMB 10,000s
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2020
As at the end of the reporting
Items As at the end of last year YoY+/-（%）
period
Asset liabilities ratio 56.62% 55.92% 0.70%
Items Reporting period Same period of last year YoY+/-（%）
EBITDA interest coverage ratio 3.25 2.41 34.85%
III. Performance discussion & analysis
1．Performance Review for Reporting period
Is the company subject to any disclosure requirements for special industries?
No
In the first half of 2020, affected by the COVID-19, the demand for industrial electricity in the whole society
declined. However, with the solid resumption of production and business, the total electricity consumption in
Guangdong Province reached 296.484 billion kWh, which was close to the same level last year, and the decline
continued to narrow. From January to June, 2020, Guangdong Province's power generation and purchase
decreased by 1.93% year-on-year, nuclear power and wind power in Guangdong Province increased by 19.54%
and 23.1% year-on-year, and the power purchase of XD Group decreased by 20.36% year-on-year. The company
completed 31.284 billion kWh of on-grid power, down by 0.76% year-on-year, and the average utilization hours
of holding coal-fired units were 1764 hours, down by 60 hours year-on-year.
In 2020, the scale of marketization transaction in Guangdong Province continued to expand, with the total volume
reached 260 billion kWh (an increase of 30% over 2019). According to the data released by the Guangdong
Electric Power Trading Center, the 2020 annual bilateral negotiation transaction volume organized by the
Guangdong Electric Power Trading Center was 211.713 billion kWh, and the average transaction price difference
was -47.1 Cent(RMB)/kWh. In the first half of 2020, the monthly concentrated bidding transaction power was
9.837 billion kWh, and the average clearing spread was -33.4 Cent(RMB)/kWh. In 2020, the Company's
budgetary on-grid electricity was 72.867 billion kWh, of which the base electricity was 6.054 billion kWh,
accounting for about 10%; the annual long-term contracted was 50.317 billion kWh, accounting for about 70%;
the rest was monthly bidding volume, accounting for about 20%. In the first half of 2020, the average selling price
of the Company's consolidated statements was 442.46 yuan / thousand kWh (excluding tax), a decrease of 17.28
yuan / thousand kWh.
In the first half of 2020, under the positive effects of normalization of epidemic prevention and control and overall
planning of economic and social development, the company's power production was generally stable, the main
cost control effect was good, and the profit rate of main business was improved, which made the company's
operating performance achieve a certain growth year-on-year. As of June 2020, the total assets according to the
company's consolidated statements were 79.266 billion yuan, with an increase of 5.03% over the beginning of the
year, and the equity attributable to shareholders of the parent company was 26.356 billion yuan, with an increase
of 0.68% over the beginning of the year. The company's revenue according to the consolidated statement was
12.54 billion yuan, with a year-on-year decrease of 2.60%; The net profit attributable to shareholders of the parent
company was 814 million yuan, with a year-on-year increase of 39.91%; Earnings per share is 0.1550 yuan.
According to the consolidated statement of the company, the total liabilities are 44.877 billion yuan, and the
asset-liability ratio is 56.62%.
In the first half of 2020, all 36 wind turbines of the Wailuo offshore wind power project (36×0.55 million
kilowatts), which was controlled by the company, were put into operation in parallel, and 34 of them passed the
250h trial operation and were officially put into production, increasing the controllable installed capacity by
187,000 kilowatts. As of June 2020, the company has controllable installed capacity of 21.192 million kilowatts,
including holding installed capacity of 19.536 million kilowatts and equity participation installed capacity of
1.657 million kilowatts. Including: the holding installed capacity for coal-fired power generation of 15.09 million
kilowatts, accounting for 77.2%; The holding installed capacity for gas and electricity of 3.72 million kilowatts,
accounting for 19.0%; The holding installed capacity for renewable energy power generation such as wind power
and hydropower of 726,000 kilowatts, accounting for 3.7%. In addition, the company's installed capacity under
management is 13.273 million kilowatts (11.069 million kilowatts for thermal power and 2.204 million kilowatts
for hydropower), with the above-mentioned controllable installed capacity and the installed capacity under
entrusted management totaling 34.465 million kilowatts.
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Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2020
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
The Ministry of Finance promulgated the revised Accounting Standards for Business Enterprises No.14-Income
in 2017 (hereinafter referred to as the "New Income Standards"), and the Group has adopted the above standards
and notices to prepare the financial statements for 2020.
(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 capital Proportion Acquired
address (%)
Guangdong Yudean Daya Bay Integrated Electric
Huizhou Huizhou 22,000,000 80% Establish
Energy Co., Ltd. Power
Electric
Guangdong Yudean Qiming Energy Co., Ltd. Shenzhen Shenzhen 20,000,000 100% Establish
Power
The Board of Directors of Guangdong Electric Power Development Co., Ltd.
Chairman of the Board: Wang Jin
August 28, 2020
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