Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
Guangdong Provincial Expressway Development Co., Ltd.
The Semi-Annual Report 2016
August 2016
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
I. Important Notice, Table of Contents and Definitions
The Board of Directors ,the Supervisory committee as well as all directors, supervisors and senior management
staff of the Company warrant that this report is factual, accurate and complete without any false record,
misleading statement or material omission. And they shall be jointly and several liable for that
All the directors have attended the meeting of the board meeting at which this report was examined.
The Company has no plan of cash dividends carried out, bonus issued and capitalizing of common reserves either.
Mr.Zheng Renfa, Compant principal , Mr. Wang Chunhua, General Manager ,Mr.Fang Zhi, Chief of the
accounting owrk, Ms.Liu Xiaomei, Chief of the accounting organ (chief of accounting ) hereby confirm the
authenticity and completeness of the financial report enclosed in this Semi-annual report.
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
Table of Contents
I. Important Notice, Table of contents and Definitions
II. Basic Information of the Company
III. Summary of Accounting Highlights and Business Highlights
IV. Report of the Board of Directors
V. Important Events
VI. Change of share capital and shareholding of Principal Shareholders
VII. Situation of the Preferred Shares
VIII .Information about Directors, Supervisors and Senior Executives
IX. Financial Report
X. Documents available for inspection
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
Definition
Refers
Terms to be defined Definition
to
Refers
The Company ,Listed Company, This Company Guangdong Provincial Expressway Development Co.,Ltd.
to
Refers
Communication Group Guangdong Communication Group Co., Ltd.
to
Refers
Province Expressway Guangdong Province Expressway Co., Ltd.
to
Refers
Construction Company Guangdong Highway Construction Co., Ltd.
to
Refers
Yadong Fuxing Yalian Yadong Fuxing Yalian Investment Co., Ltd.
to
Refers
Xizang Yingyue Xizang Yingyue Investment Co., Ltd.
to
Refers
Technology Company Guangdong Expressway Technology Investment Co.,Ltd.
to
Refers
Fokai Company Guangdong Fokai Expressway Co., Ltd.
to
Refers
Guangfo Company Guangdong Guangfo Expressway Co., Ltd.
to
Refers
Guangzhu Traffic Guangzhou Guangzhu Traffic Investment Management Co., Ltd.
to
Refers
Guangzhu East Company Jingzhu Expressway Guangzhu Section Co., Ltd.
to
Guangdong Provincial Expressway Development Co.,Ltd. issues shares
Refers
Major assets restructuring and uses cash to purchase assets and raise counterpart funds and Related
to
transaction
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
II. Basic Information of the Company
1.Company Information
Stock abbreviation: Expressway A, Expressway B Stock code： 000429、200429
Stock exchange for listing： Shenzhen Stock Exchange
Name in Chinese 广东省高速公路发展股份有限公司
Abbreviation of Registered
粤高速
Company (if any)
English name (If any) Guangdong Provincial Expressway Development Co.,Ltd.
English abbreviation (If
GPED
any)
Legal Representative Zhu Zhanliang
2. Contact person and contact manner
Board secretary Securities affairs Representative
Name Liu Xiaomei Liang Jirong
46/F, Litong Plaza, No.32, Zhujiang East 45/F, Litong Plaza, No.32, Zhujiang East
Contact address Road, Zhujiang New City, Tihe Disrtict , Road, Zhujiang New City, Tihe Disrtict ,
Guangzhou Guangzhou
Tel 020-29004619 020-29004523
Fax 020-38787002 020-38787002
E-mail 53537552@qq.com 139221590@qq.com
3.Other
1.Way to contact the Company
Whether registrations address, offices address and codes as well as website and email of the Company changed in
reporting period or not
√ Applicable □Not applicable
Email：zqb@gpedcl.com
Registered address, Postal code of the Registered Address,Office Address,Internet Web Site has not changed, refers to the company’s
2015annual report.
2.About information disclosure and where this report is placed
Did any change occur to information disclosure media and where this report is placed during the reporting period?
□ Applicable √ Not applicable
The newspapers designated by the Company for information disclosure, the website designated by CSRC for
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
disclosing this report and the location where this report is placed did not change during the reporting period. The
said information can be found in the 2015 Annual Report.
3．Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable √ Not applicable
Date/place for registration of the Company, registration number for enterprise legal license number of taxation
registration and organization code have no change in reporting period, found more details in annual report 2015.
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
III. Summary of Accounting Highlights and Business Highlights
I. Summary of accounting /Financial Data
May the Company make retroactive adjustment or restatement of the accounting data of the previous years due to
change of the accounting policy and correction of accounting errors.
Note:the Company make restatement of the accounting data of the same period last year and the end of last year due to Major assets
restructuring.
√Yes □No
Same period of last year YoY+/-（%）
Reporting period
Before adjustment After adjustment After adjustment
Operating income（RMB） 1,333,492,179.77 724,392,887.59 1,250,134,143.23 6.67%
Net profit attributable to the shareholders
505,899,144.29 231,855,370.05 338,837,143.73 49.30%
of the listed company（RMB）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders 356,881,714.84 228,030,004.15 228,030,004.15 56.51%
of listed company（RMB）
Cash flow generated by business
932,882,829.38 518,081,630.75 804,186,516.45 16.00%
operation, net（RMB）
Basic earning per share(RMB/Share) 0.29 0.18 0.20 45.00%
Diluted gains per
0.29 0.18 0.20 45.00%
share(RMB/Share)(RMB/Share)
Weighted average ROE(%) 8.39% 4.49% 6.03% 2.36%
As at the end of the As at the end of last year YoY+/-（%）
reporting period Before adjustment After adjustment After adjustment
Gross assets（RMB） 15,175,588,214.81 12,400,203,367.83 15,126,912,516.70 0.32%
Net assets attributable to Shareholders’
equity attributable to shareholders of the 7,758,425,258.69 5,235,242,444.46 5,855,404,300.43 32.50%
listed company（RMB）
Note 1, on the table over the same period last year (before adjusting) performance for the company implementation
of a major reorganization of assets before 2015 semi annual report to disclose data; over the same period last year
(adjusted) data of the Department of the company a major reorganization of assets, according to enterprises under
the same control combined with related standards on the same period last year financial data retrospective
restatement data.
Note 2, the company during the reporting period, the implementation of the issuance of shares to buy assets of
matters, over the same period last year (before adjusting) basic earnings per share to total share capital
1257117748 shares is estimated; over the same period last year (adjusted) basic earnings per share to the company
non public offering of shares weighted average equity 1723442768 estimates; newspaper report that the basic
earnings per share of the company non - public offering of shares weighted average equity 1729001979 estimates.
Calculation process and calculation based on the \"Ninth sections of the financial report\" of the \"Eighteen
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
supplementary information\" \"2, net assets income and earnings per share\".
Total share capital of the Company up to a trading day before disclosure：
Total share capital of the Company up to a trading day before
2,090,806,126
disclosure(Shares)
Fully diluted EPS based on new share capital (RMB/Share) 0.242
II. Differences between accounting data under domestic and overseas accounting standards
1. Differences of net profit and net assets disclosed in financial reports prepared under international and Chinese
accounting standards.
□ Applicable √Not applicable
No difference .
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese
accounting standards.
□ Applicable √Not applicable
No difference .
III.Items and amount of non-current gains and losses
√Applicable □Not applicable
In RMB
Items Amount Notes
Non-current asset disposal gain/loss(including the write-off part
17,214.82
for which assets impairment provision is made)
Current net gains and losses occurred from period-begin to
combination day by subsidiaries resulting from business 102,025,476.76
combination under common control
Other non-business income and expenditures other than the above 62,934,995.14
Less: Amount of influence of income tax 15,736,437.22
Amount of influence of minority interests(after tax) 223,820.05
Total 149,017,429.45 --
For the Company’s 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
In reporting period, the Company has no particular about items defined as recurring profit (gain)/loss according to
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
the lists of extraordinary profit (gain)/loss in Q&A Announcement No.1 on Information Disclosure for Companies
Offering Their Securities to the Public --- Extraordinary Profit/loss.
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
IV. Report of the Board of Directors
I. General
In the first half of 2016, the Board of Directors actively promoted the major asset reorganization. Upon
receiving the official approval from the China Securities Regulatory Commission (CSRC), the Board of Directors
organized all parties to implement the reorganization plan. On June 17, 2016, the transfer and handover
procedures of underlying assets purchased by the Company in this major asset reorganization were completed; On
July 8, 2016, the registration and going public work of non-public shares in this major asset reorganization were
completed. So far, the major asset reorganization launched by the Company on April 8, 2015 has been
successfully completed. After completion of the transaction, the Company has taken a full ownership of Fokai
Expressway, and a new holding Guangzhu East Expressway, with shareholding ratio up to 75%, further enhancing
the continuing profitability of the main highway industry. In the first half of 2016, the net profit of the Company
attributable to shareholders of listed companies was RMB 506 million, an increase of 49.30% year-on-year,
showing the effectiveness of reorganization.
II. Analysis on principal Business
General
The Company is an infrastructure industry, with main business in developing and operating expressway and big
bridges. It is one of the main institutions of developing expressway and big bridge in Guangdong Expressway
System. The expressway industry is the industry helped by government.
In the report period, the vehicle traffic and toll income of the controlled subsidiaries and joint ventures of the
Company are as follows:
Volume of vehicle Increase Toll income in the first Increase /Decrease(%)
traffic in the first half /Decrease(%) half year of 2016
year of 2016( vehicles) （RMB’0000）
Guangfo Expressway 26,575,444 13.78% 19,083.76 9%
Fokai Expressway 23,968,177 15.52% 56,928.08 7.1%
Huiyan Expressway 17,044,547 15.49% 10,615.90 11.27%
Jingzhu Expressway Guangzhu 30,170,232 8.43% 54,158.82 5.38%
Section
Guangzhao Expressway 14,315,677 15.73% 28,997.89 20.68%
Guanghui Expressway 21,450,514 13.60% 80,078.11 3.18%
Jiangzhong Expressway 20,429,959 8.87% 19,625.92 4.44%
Kangda Expressway 1,187,605 5.28% 11,553.73 -0.22%
Gangkang Expressway 1,158,072 1.51% 7,324.78 -22.26%
In Guangdong province, Guangdong Expressway’s equity and participation and controlling projects all
increased in varying degrees. The relatively obvious growth was Guangzhao Expressway in the first half of year
increased more than 20.68%,Huiyan Expressway in the first half of year increased more than 10%.The main
factors influencing the revenue growth were: first, the positive influence of the total weight calculation of trucks
that began in June 2015 and the subsequent national ETC network on the revenue growth index over the same
Guangdong Provincial Expressway Development Co.., Ltd. The Semi-Annual Report 2016
period in the first half year of 2016; second, the natural influence of the economic growth; third, the Group
attached great importance to crack down the toll jumpers and do the inspection work. Jiangxi Kangda project drop
slightly with last year, Gankang section continued to decline to -22.26%, because the Xunquan Expressway was
opened to traffic at the end of October 2015, and the docking of the Ruixun section in Jiangxi province and
Pingxing section in Guangdong province of the Jiguang Expressway at the end of last year caused traffic diversion
in the Gankang Expressway, leading to a substantial toll decline.
Year-on-year change of main financial data
In RMB
Same period last YOY
This report period Cause change
year change（%）
Mainly due to the growth of Guangfo,
Operating income 1,333,492,179.77
