Guangdong Provincial Expressway Development Co.,Ltd.
The Third Quarterly Report 2014
October 2014
I. Important Notice
The Board of Directors and the Supervisory Committee of the Company and its directors,
supervisors and senior executives should guarantee the reality, accuracy and completion of the
quarterly report, there are no any fictitious statements, misleading statements or important
omissions carried in this report , and shall take legal responsibilities, individual and /or joint.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Mr.Zhu Zhanliang, Compant principal , Mr. Xiao Laijiu, General manager, Mr. Yun Wujun,,Chief of the
accounting work,Ms.Liu Xiaomei, Chief of the accounting organ (chief of accounting ) hereby confirm the
authenticity and completeness of the financial report enclosed in this report.
II. Main financial data and changes of shareholders
(1)Main financial data and financial index
Whether it has retroactive adjustment or re-statement on previous accounting data for accounting policy changed and accounting
error correction or not.
□ Yes √ No
End of the report period End of last year Year-on –year change
Gross assets(RMB) 12,095,478,409.17 12,694,475,514.01 -4.72%
Net assets attributable to the
shareholders of the listed company 4,502,042,194.11 4,237,999,072.46 6.23%
(RMB)
Between beginning of
Year-on year Change from the same
This report period the year to the end of
change9%) period last year
the report period
Operating income(RMB) 379,295,699.87 7.42% 1,068,012,591.73 8.64%
Net profit attributable to the
shareholders of the listed company 122,815,513.69 212.40% 301,008,457.71 210.56%
(RMB)
Net profit after deducting of
non-recurring gain/loss
121,167,322.13 208.00% 297,644,013.07 308.93%
attributable to the shareholders of
listed company(RMB)
Cash flow generated by business
-- -- 779,283,830.65 38.93%
operation, net(RMB)
Basic earning per
0.10 233.33% 0.24 200.00%
share(RMB/Share)
Diluted gains per
0.10 233.33% 0.24 200.00%
share(RMB/Share)(RMB/Share)
Weighted average income/asset
2.74% 1.81% 6.89% 4.62%
ratio(%)
Items and amount of non-current gains and losses
√Applicable □Not applicable
In RMB
Amount from beginning of
Items the year to the end of the Notes
report period
Non-current asset disposal gain/loss(including the
-763,305.71
write-off part for which assets impairment provision is
made)
Net amount of non-operating income and expense except the
5,210,236.83
aforesaid items
Less:Amount of influence of income tax 1,082,486.48
Total 3,364,444.64 --
For the Companys non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
(II) Total number of shareholders and shareholding of top 10 shareholders by the end of the report
period
(1) Total number of common shareholders and shareholding of top 10 common shareholders by the end of the
report period
In Shares
Total number of shareholders at the
84,900
end of report period
Particular about shares held by top ten shareholders
Amount of Pledging or freezing
Properties of Share tradable shares
Shareholder name Quantity Status of the
shareholder proportion % with Conditional Quantity
shares
held
Guangdong
State-owned legal
Communication 40.83% 513,328,290 409,948,548 Freezing 103,379,742
person
Group Co., Ltd.
Guangdong
State-owned legal
Expressway Co., 1.56% 19,582,228 19,582,228
person
Ltd
Domestic non
Haerbin Hali
State-owned 1.32% 16,567,054
Industry Co., Ltd.
Legal person
Overseas legal
Xinyue Co., Ltd. 1.05% 13,201,086
person
Guangdong
Yuecai Trust State-owned legal
0.97% 12,174,345
Investment Co., person
Ltd.
Domestic Natural
Li Zhuo 0.77% 9,678,994
person
Shanxi Huiteng
Domestic non
International
State-owned 0.28% 3,582,289
Freight Forwarding
Legal person
Co., Ltd.
China Everbright
Bank Co., Ltd. - Domestic non
China Everbright State-owned 0.28% 3,564,313
Core Securities Legal person
Investment Fund
Liu Feng Domestic Natural 0.26% 3,303,452
person
Domestic Natural
Hu Maohua 0.25% 3,133,868
person
Shareholding of top 10 shareholders of unrestricted shares
Quantity of unrestricted shares held at the end of the Share type
Name of the shareholder
reporting period Share type Quantity
Guangdong Communication Group RMB Common
103,379,742 103,379,742
Co., Ltd. shares
RMB Common
Haerbin Hali Industry Co., Ltd. 16,567,054 16,567,054
shares
Foreign shares
placed in
Xinyue Co., Ltd. 13,201,086 13,201,086
domestic
exchange
Guangdong Yuecai Trust RMB Common
12,174,345 12,174,345
Investment Co., Ltd. shares
RMB Common
Li Zhuo 9,678,994 9,678,994
shares
Shanxi Huiteng International Freight RMB Common
3,582,289 3,582,289
Forwarding Co., Ltd. shares
China Everbright Bank Co., Ltd. -
RMB Common
China Everbright Core Securities 3,564,313 3,564,313
shares
Investment Fund
RMB Common
Liu Feng 3,303,452 3,303,452
shares
Foreign shares
placed in
Hu Maohua 3,133,868 3,133,868
domestic
exchange
Foreign shares
placed in
Lu Weiqiang 2,900,992 2,900,992
domestic
exchange
Guangdong Communication Group Co., Ltd. is the parent company of Guangdong
Explanation on associated Expressway Co., Ltd. and Xinyue Co., Ltd.. It is unknown whether there is relationship
relationship between other shareholders and whether they are persons taking concerted action specified
among the aforesaid shareholders in the Regulations on Disclosure of Information about Change in Shareholding of
Shareholders of Listed Companies.
Harbin Hali Industry Co., Ltd. holds7,586,714 A shares of the Company through stock
account with credit transaction and guarantee and holds 8,980,340 A shares through ordinary
Participation of top 10 unconditional
stock account. hold16,567,054 shares of the Company''s stock totally;Li Zhuo holds
9,635,414 A shares of the Company through stock account with credit transaction and
common share shareholders in guarantee and holds43,580 A shares through ordinary stock account, hold 9,678,994 shares
of the Company''s stock totally;Liu Feng holds3,294,452 A shares of the Company through
stock account with credit transaction and guarantee and holds9,000A shares through
securities margin trading (if any)
ordinary stock account. hold3,303,452 shares of the Company''s stock totally.
Agreed re-purchasing by the Companys top 10 shareholders of common shares and top 10 shareholders of
unconditional common shares in the report period
□ Yes √ No
No agreed re-purchasing is performed by the Companys shareholders in the report period.
(2) Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the
report period
□ Applicable√ Not applicable
III. Significant Events
I. Particular about large-margin change of main accounting statement item and financial index and its reason.
√ Applicable □ Not applicable
(I)Items of balance sheet as compared with the beginning of this year.
1.Monetary capital decreased by RMB 394 million and 40.31% over the beginning of the year mainly due to net
cash inflow of RMB 779 million from operating activities, net cash outflow of RMB 49 million from investing
activities and net cash outflow of RMB 1.123 billion from financing activities.
2.Accounts payable increased by RMB 19.60 million and 70.26% over the beginning of the year , mainly due to
increase of toll income receivable from United Electronic Toll Center by Guangdong Fokai Expressway Co., Ltd.
3. Financial assets available for sale Increased by RMB 774 million and 114.53% over the beginning of the year ,
The main reasons for the increase were: (1) in accordance with requirements of the new accounting standards for
enterprise in 2014, our company turned the 9% shares of Guangdong Guangle Expressway Co., Ltd. held by us
from the accounting subject of \"long-term equity investment\" into the accounting subject of \"salable financial
assets\" to calculate, increasing an amount of RMB 730 million. (2) increasing an investment of RMB 20.2067
million to the Guangdong Guangle Expressway Co., Ltd.; (3) by the end of this term, the stock fair value of China
Everbright Bank Co., LTD. we held has increased RMB 26 million .
4.Deferred income tax assets decreased by RMB 45.13 million and 97.11% over the beginning of the year,
Due to the reversal of deferred tax assets of Guangdong Fokai Expressway Co., Ltd. in current period.
5.The short-term borrowings balance was 200 million , the beginning balance is zero, which are the new short-ter
m borrowings of Fokai Expressway Co., Ltd. and Guangfo Expressway Co., Ltd. in the current period.
6.Account payables decreased by RMB 168 million and 52.82% over the beginning of the year,
The decrease due to the extension project of Xiebian-Sanbao Section of Fokai Expressway project has finished the
checking and acceptance and has already been open to traffic. The project payment has been paid faster and the p
ayable for projects currently decreased.
7. Interest payables increased by RMB 38.79 million and 108.09% over the beginning of the year, mainly because
the parent company made provision of RMB 50.92 million for the interest of unmatured medium term notes for
the first three quarters and repaid interest of RMB 6.4 million for the corporate bonds and insurance funds for
which it made provision at the beginning of year.
8. Dividend payables decreased by RMB 26.68 million and 70.48% over the beginning of the year,
Mainly due to Guangdong Fokai Expressway Co., Ltd. paid the dividends to minority shareholders.
9. Non-current liabilities to become due within one year decreased by RMB 450 million and 52.11% over the
beginning of the year due to the parent company repaid long-term loan due within one year of RMB 800 million;
Guangdong Fokai Expressway Co., Ltd. increased RMB352 million long-term loans that due within one year thu
s reclassified to this statement.
(II) Items of profit statement as compared with the same period of the previous year
1.Operating income increased by RMB 84.92million and 8.64% year on year, The main reason is that Guangfo
Expressway Co., Ltd and Fokai Expressway Co., Ltd have increased their incomes of toll due to the natural
increase of traffic volume.
2.Operating cost decreased by RMB 94.15 million and 14.5% year on year ,
The decrease caused by the following reasons:(1)Xiebian-Sanbao Section of Fokai Expressway project had chang
es in accounting estimates led to the depreciation expense reduced;(2)Guangfo Expressway Co., Ltd. and Guangd
ong Fokai Expressway Co., Ltd. increased depreciation expense caused by traffic growth.
3.Business tax and surcharge increased by RMB2.84million and 7.85% year on year,
mainly due the tax increased caused by the increase of operation income.
4.Administrative expense decreased by RMB 10.37 million and 8.64% year on year,
The decrease due to operation cost decreased affected by company operation management improvement.
5.Asset impairment loss d