Guangdong Electric Power Development Co., Ltd.
The First Quarterly Report 2019
April 2019
1 Important notesThe Board of Directors，the Supervisory Committee, the directors, the supervisors, and executives of theCompany guarantee that there are no significant omissions, fictitious or misleading statements carried in theQuarterly Report and we will accept individual and joint responsibilities for the truthfulness, accuracy andcompleteness of the Quarterly Report.All of the directors presented the board meeting at which this Quarterly Report was examined.Mr. Wang Jin, Person in charge of the Company, Mr.Liu Wei , Person in charge of accounting works, Mr.MengFei ,CFO as well as person in charge of accounting institution represent and warrant the financial and accountingreport in the first quarterly report is true and complete.
II. Basic information about the company
I. Main financial data and indicesIndicate by tick mark whether the Company needs to retroactively restate any of its accounting data.□ Yes √ No
This period Same period of last year
Changes of this period oversame period of last year（％）
Operating revenue（Yuan）
5,589,715,802
| 5,589,715,802 | 5,812,535,688 |
-3.83%
Net profit attributable to the shareholdersof the listed company（Yuan）
109,518,462
5,
| 745,879 | |
1806.03%
Net profit after deducting of non-recurringgain/loss attributable to the shareholders oflisted company（Yuan）
109,805,200
| 4,330,364 | |
2435.70%
Net cash generated from /used in operatingactivities（Yuan）
1,805,095,658
| 1,805,095,658 | 1,540,043,756 |
17.21%
Basic earning per share(Yuan/Share) 0.0209
0.0011
1,800 %
Diluted gains per share(Yuan/Share) 0.0209
0.0011
1,800 %
Weighted average return on equity（%）
0.34%
0.02%
0.32%
End of this period End of last period
Changes of this period-end
over same period-end of last
year(%)Total assets（Yuan） 72,032,603,693
| 73,329,662,306 | |
-1.77%
Net assets attributable to the shareholdersof the listed company（Yuan）
24,380,493,152
| 24,227,302,288 | |
0.63%
Items and amount of non-current gains and losses√ Applicable □ Not applicable
In RMBItems
Amount (Year-beginning tothe end of the report period.)
NotesNon-current asset disposal gain/loss(including the write-off partfor which assets impairment provision is made)
-
524,607
Govemment subsidy recognized in current gain andloss(excluding those closely related to the Company’s businessand granted under the state’s policies)
524,607926,644
Other non-operating income and expenditure except for theaforementioned items
-
926,6441,496,304
Less: Amount of influence of income tax -
1,496,304275,893
Influenced amount of minor shareholders’ equity (after tax) -
275,893531,636
Total -
531,636286,738
--
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 oninformation disclosure for Compaines Offering their Securities to the Public-Non-recurring Gains and Losses andits 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 asrecurring gains and losses, it is necessary to explain the reason.□ Applicable√ Not applicableNone of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the informationdisclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recoveredand the Shares Held by Top Ten Common Shareholders
In shares
Total number of commonshareholders at the period-end
99,561
Total preference shareholders withthe voting power recovered at theend of the reporting period(if any)
Shares held by the top 10 shareholdersShareholder name
Properties ofshareholder
Shareproportion
%
Quantity
Amount oftradable shareswith Conditional
held
Pledging or freezing
Status ofthe shares
Quantity
Guangdong Energy Group Co., Ltd.
State-owned legalperson
67.39%
3,538,005,285
1,893,342,621
China Securities Finance Co., Ltd.
State-owned legalperson
2.84%
148,862,420
Shenzhen
Investment Co., Ltd.
State-owned legalperson
2.22%
Guangfa Electric Power
116,693,602
Guangdong Electric PowerDevelopment Corporation
State-owned legalperson
1.80%
94,367,341
Li Zhuo
Domestic Naturalperson
0.60%
31,606,103
National Social Security Fund 103portfolio
DomesticNon-State ownedlegal person
0.44%
22,994,982
Zheng Jianxiang
Domestic Naturalperson
0.43%
22,625,098
Harbin Hali Industry Co., Ltd.
DomesticNon-State ownedlegal person
0.40%
20,942,645
CHINA INT'L CAPITAL CORPHONG KONG SECURITIES LTD
Overseas Legalperson
0.29%
15,316,066
Harbin Daoli District CharityFoundation
DomesticNon-State ownedlegal person
0.26%
13,722,893
Shares held by the Top 10 Shareholders of Non-restricted sharesShareholders’ Names Number of the non-restricted shares held
Share typeShare type QuantityGuangdong Energy Group Co., Ltd. 1,644,662,664
RMB Common shares
1,644,662,664
China Securities Finance Co., Ltd. 148,862,420
RMB Common shares
148,862,420
Shenzhen
Guangfa Electric Power
Investment Co., Ltd.
116,693,602
Guangfa Electric Power
RMB Common shares
116,693,602
Guangdong Electric PowerDevelopment Corporation
94,367,341
RMB Common shares
94,367,341
Li Zhuo 31,606,103
RMB Common shares
31,606,103
National Social Security Fund 103portfolio
22,994,982
RMB Common shares
22,994,982
Zheng Jianxiang 22,625,098
Foreign shares placed22,625,098
in domestic exchange
Harbin Hali Industry Co., Ltd. 20,942,645
RMB Common shares
20,942,645
CHINA INT'L CAPITAL CORPHONG KONG SECURITIES LTD
15,316,066
Foreign shares placedin domestic exchange
15,316,066
Harbin Daoli District CharityFoundation
13,722,893
RMB Common shares
13,722,893
Explanation on associated relationship
or concerted action of the aboveshareholders
The fourth largest shareholder Guangdong Electric Power Development Corporation is thewholly-owned subsidiaries of the largest shareholder Guangdong Energy Group. These twocompanies have relationships; whether the other shareholders have relationships orunanimous acting was unknown.
Note to the top 10 commonstockholders involved in marginfinancing & securities lending (If any)
Explanation on associated relationship
The Fifth largest shareholder Li Zhuo holds98,780 A shares of the Company through stockaccount with credit transaction and guarantee and holds 31,507,323 A shares throughordinary stock account, hold 31,606,103 shares of the Company's stock totally;The Eighth largest shareholder Harbin Hali Industry Co., Ltd. holds 20,942,645 A shares ofthe Company through stock account with credit transaction;The Tenth largest shareholder Harbin Daoli District Charity Foundation holds72,287 Ashares of the Company through stock account with credit transaction and guarantee andholds 13,650,606 A shares through ordinary stock account, hold 13,722,893 shares of theCompany's stock totally.
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have abuy-back agreement dealing in reporting period.□ Yes √ NoThe top ten common shareholders or top ten common shareholders with un-restrict shares held of the Companyhave no buy –back agreement dealing in reporting period.2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of thereport period□ Applicable √Not applicable
III. Significant EventsI. Particular about large-margin change of main accounting statement item and financial index and itsreason.√ Applicable □ Not applicableIn the first quarter of 2019, the electricity consumption of the whole society in Guangdong Province was 128.93billion kilowatt hours, with a year-on-year increase of 3.8%, and the growth rate slowed down somewhat. Affectedby the year-on-year growth of 33.6% in XD and 25.7% in Nuclear Power, the coal-fired power generation unit inthe province witnessed a sharp year-on-year drop of nearly 22% in on-grid energy and 18.50% in on-grid energy.In the first quarter of 2019, the company completed13.721 billion kilowatt-hours in combined on-grid energy,with a year-on-year decrease of 10.10%; The average on-grid energy price in the consolidated statement was464.80 yuan/kWh (inclusive of tax, the same below), with a year-on-year of 25.47 yuan/kWh; The cost of powergeneration fuel was 3400.7693 million yuan, with a year-on-year decrease of 513.6758 million yuan and 13.12%.Affected by the decline in coal prices and the decrease of the profit margin of market electricity, the company'sgross profit of power generation increased year on year. In the first quarter of 2019, the net profit attributable tothe shareholders of the parent company reached 109.52 million yuan, with a year-on-year increase of 1806.03%.II. The progress of significant events and influence, as well as the analysis and explanation on resolvingproposal.√ Applicable □ Not applicable1. With the approval of the seventh meeting of the Ninth Board of Directors of the Company on January 25, 2019,the Company adjusts the depreciation period of fixed assets in Shajiao Power Plant A from January 1, 2019. Netprofit attributable to the parent company is expected to decrease by about 174 million yuan in 2019 and 49 millionyuan annually from 2020 to 2023, and the owner's equity attributable to the parent company is expected todecrease by about 174 million yuan in 2019 and 49 million yuan annually from 2020 to 2023.2. In order to further promote the large-scale development of the company's offshore wind power in GuangdongProvince and the southeast coast, the seventh meeting of the ninth Board of Directors of the Company deliberatedon January 25, 2019 and agreed that the Company should invest in Zhuhai Jinwan Offshore Wind Power Project(300,000 kilowatts), with a total dynamic investment of 5643.17 million yuan, of which 1,128.634 million yuan iscapital, accounting for 20% of the total dynamic investment of the project.3. The Company's 2019 daily related party transactions are approved and implemented by the 2019 firstProvisional shareholders' General meeting held on February 21, 2019.4. During the reporting period, Mr. Zhou Xi'an, the former director of the company, ceased to hold the post ofdirector of the company due to job changes. After the election of the first Provisional shareholders' Generalmeeting in 2019 held on February 21, 2019, Mr. Yan Ming served as a director of the Company.5. During the reporting period, Guangdong Yudean Group Co., Ltd., the controlling shareholder of the Company,changed its name to "Guangdong Energy Group Co., Ltd." on February 18, 2019. It does not involve changes inequity, the controlling shareholder, and nor does it affect the company's business activities. Neither the controlling
shareholder nor the actual controller of the company has changed.6. During the reporting period, the company bonds - "12 Yudean Bonds", completed the annual interest paymentfor 2019 on March 18, 2019.
Announcement Date of disclosure Website for disclosureAnnouncement of Resolutions of the 7th Meetingof the Ninth Board of Directors
January 26,2019 http//www.cninfo.com.cn.Announcement of the adjustment of depreciationperiod of fixed assets in Shajiao A Power plant
January 26,2019 http//www.cninfo.com.cn.Estimates announcement of the Daily RelatedParty Transactions of2019
January 26,2019 http//www.cninfo.com.cn.Announcement on Change of ControllingShareholder Name
February 18,2019 http//www.cninfo.com.cn.Announcement of Resolutions of the Firstprovisional shareholders' general meeting of 2019
February 22,2019 http//www.cninfo.com.cn.Announcement of Guangdong Electric PowerDevelopment Co., Ltd. Concerning Payment ofCorporate “12 Yudean Bonds” Interest of 2019
March 12,2019 http//www.cninfo.com.cn.
Progress in the implementation of share repurchase□ Applicable √ Not applicableProgress in the implementation of the reduction of the repurchased shares by means of centralized bidding□ Applicable √ Not applicableIII. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,directors, supervisors, senior executives or other related parties in the reporting period and commitmentsunfinished in implementation at the end of the reporting period□ Applicable √Not applicableNo such cases in the reporting period.IV．Prediction of Business performance for January- June 2019Estimation 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 andexplanation of reason.□ Applicable √ Not applicableV. Securities investment√ Applicable □Not applicable
Securitycategory
Security
code
| Security | |
StockAbbreviation:
Initialinvestment
Modeof
Book valuebalance at
Changes in
| Changes in |
| fair value of |
Cu
fair value
Purchas
e
Saleamount
Gain/loss
of the
Book valuebalance at
Account
ing
Source ofthe shares
| mulative | ||
costaccountingmeasurement
thebeginning ofthe reporting
period
the this
period
changes in
equity
| the this | amount |
in the
thisperiod
in the
thisperiod
reporting
period
the end of
thereporting
period
items
Domestic
andforeignstocks
000027
Domestic
ShenzhenEnergy
| 15,890,628 |
Fairvaluemeasurement
66,150,000
| 66,150,000 | 15,624,000 | 65,883,372 | 81,774,000 | |||||||
Otherassets
Own-Funds
Domestic
andforeignstocks
600642
Domestic
Shenergy
| 235,837,988 |
Fairvaluemeasurement
270,997,380
| 270,997,380 | 41,093,865 | 76,253,257 | 312,091,245 | ||||||||
Otherassets
Own-Funds
Domestic
andforeignstocks
831039
Domestic
NEEQ
| 3,600,000 |
Fairvaluemeasurement
3,618,000
| 3,618,000 | 1,512,000 | 1,530,000 | 5,130,000 | |||||||
Otherassets
Own-Funds
Domestic
andforeignstocks
002952
Domestic
YesOptoelectronics
| 7,038 |
Fairvaluemeasurement
4,109
| 0 | 7,038 | 11,147 | ||||||||
Transactional
assets
Own-Funds
financial
Domestic
andforeignstocks
300766
Domestic
MeritInteractiveNetwork
| 6,462 |
Fairvaluemeasurement
7,163
| 0 | 6,462 | 13,625 | ||||||||
Transactional
assets
Own-Funds
financial
Total 255,342,1
--
| 16 | 340,765,380 | 58,241,137 |
143,666,62
13,500
| 13,500 | 0 | 0 | 399,020,017 |
-- --Disclosure date for the notice ofapproval by the Board (If any)
October 31,2018Disclosure date for the notice ofapproval by shareholders’Meeting (If any)
VI. Investment in derivatives□ Applicable √Not applicableThere is no derivative investment during the report period.VII. The registration form of acceptance of investigation, communication and interview in the reportperiod for future reference√ Applicable □Not applicable
Reception time Way of reception Types of visitors Basic indexFebruary 20,2019 Onsite investigation Organization
| Details can be found in the Record Chart of the |
| Investor Relation Activity disclosed on Juchao |
website(www.cninfo.com.cn) on 22 February2019.
VIII. External guarantee get out of line□ Applicable √Not applicableNo such cases in the reporting period.IX. Controlling shareholder and its related parties occupying non-business capital of the listed company□ Applicable √Not applicable
No such cases in the reporting period.
IV. Financial StatementI. Financial statement1. Consolidated balance sheetPrepared by: Guangdong Electric Power Development Co., Ltd.
March 31, 2019
In RMBItems March 31,2019 December 31,2018Current asset：
Monetary fund
| 4,945,898,685 | 5,574,382,892 |
Settlement provision
Outgoing call loan
Transactional financial assets
Financial assets measured at fair valuewith variations accounted into currentincome account
| 24,772 | |
Derivative financial assets
Notes receivable & account receivable 2,565,4
| 80,167 | 3,358,331,949 |
Including： Notes receivable
Account receivable
| 2,565,480,167 | 3,358,331,949 |
Prepayments
| 724,215,151 | 906,261,046 |
Insurance receivable
Reinsurance receivable
receivable
Provisions of Reinsurance contracts
Other account receivable
| 232,809,569 | 222,976,826 |
Including：Interest receivable
| 22,205,621 | 18,856,570 |
Dividend receivable
Repurchasing of financial assets
Inventories
| 1,923,545,977 | 1,481,817,270 |
Contract assets
Assets held for sales
Non-current asset due within 1 year
| 88,553 | |||
Other current asset
| 505,757,909 | 617,853,476 |
Total of current assets 10,897,820,783
| 12,161,623,459 | |
Non-current assets：
Loans and payment on other’s behalfdisbursed
Debt investment
Available for sale of financial assets
| 1,565,806,331 | |
Other investment on bonds
Expired investment in possess
Long-term receivable
| 90,346,689 | 89,762,071 |
Long term share equity investment
| 6,486,651,915 | 6,395,134,754 |
Other equity instruments investment
| 1,702,198,436 | |
Other non-current financial assets
Property investment
| 10,454,314 | 10,810,722 |
Fixed assets
| 40,960,626,800 | 41,157,594,848 |
Construction in progress
| 7,743,182,239 | 7,740,754,343 |
Production physical assets
Oil & gas assets
Use right assets
Intangible assets
| 1,851,918,885 | 1,863,588,771 |
Development expenses
| 1,598,931 | |
Goodwill
| 2,449,886 | 2,449,886 |
Long-germ expenses to be amortized
| 21,292,158 | 22,089,179 |
Deferred income tax asset 463,491
| ,803 | 448,431,684 |
Other non-current asset
| 1,800,570,854 | 1,871,616,258 |
Total of non-current assets
| 61,134,782,910 | 61,168,038,847 |
Total of assets72,032,603,693
| 73,329,662,306 | |
Current liabilitiesShort-term loans
7,526,000,000
| 6,596,000,000 | |
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Financial liabilities measured at fair valuewith variations accounted into currentincome account
Derivative financial liabilities
Notes payable & account payable
| 2,995,916,859 | 3,137,761,522 |
Advance receipts
| 390,631 | 343,894 |
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable
| 206,798,763 | 235,741,179 |
Tax payable
| 276,836,872 | 397,001,706 |
Other account payable
| 4,160,534,744 | 4,152,518,495 |
Including：Interest payable
| 113,293,153 | 59,316,076 |
Dividend payable
| 9,703,930 | 9,703,930 |
Fees and commissions payable
Reinsurance fee payable
Contract Liabilities
Liabilities held for sales
Non-current liability due within 1 year
| 2,106,713,038 | 2,779,347,654 |
Other current liability
| 1,061,680,873 | 1,107,904,110 |
Total of current liability 17,404,87
| 1,780 | 19,336,618,560 |
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan
| 19,362,245,623 | 18,802,292,664 |
Bond payable
| 838,534,277 | 838,326,742 |
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable
| 2,265,441,142 | 2,311,513,249 |
Long-term remuneration payable to staff
115,599,287
122,913,388
Expected liabilities
Deferred income
| 132,460,704 | 133,043,646 |
Deferred income tax liability 123,759,927
| 100,726,841 | |
Other non-current liabilities
| 116,405,569 | 166,405,569 |
Total non-current liabilities 22,954,446,529
| 22,475,222,099 | |
Total of liability 40,359,318,309
| 41,811,840,659 | |
Owners’ equityShare capital
| 5,250,283,986 | 5,250,283,986 |
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves
| 5,102,846,886 | 5,102,846,886 |
Less：Shares in stock
Other comprehensive income
| 593,682,531 | 550,010,133 |
Special reserve
Surplus reserves
| 7,834,155,143 | 7,834,155,143 |
Common risk provision
Retained profit 5,599,524,606
| 5,490,006,140 | |
Total of owner’s equity belong to theparent company
24,380,493,152
| 24,227,302,288 | |
Minority shareholders’ equity
| 7,292,792,232 | 7,290,519,359 |
Total of owners’ equity 31,673,285,384
| 31,517,821,647 | |
Total of liabilities and owners’ equity 72,032,603,693
| 73,329,662,306 | |
Legal Representative: Wang Jin Person in charge of accounting：Liu Wei Accounting Dept Leader: Meng Fei
2.Parent Company Balance Sheet
In RMB
Items March 31, 2019 December 31, 2018Current asset：
Monetary fund
| 628,153,315 | 385,577,463 |
Transactional financial assets
Financial assets measured at fair valuewith variations accounted into currentincome account
24,772
Derivative financial assets
Notes receivable & account receivable
| 150,914,726 | 264,537,475 |
Including：Notes receivable
Account receivable
| 150,914,726 | 264,537,475 |
Prepayments
| 45,800,060 | 44,826,500 |
Other account receivable 74,778,266
| 375,296,228 | |
Including：Interest receivable
| 2,406,105 | 1,121,522 |
Dividend receivable
| 447,956 | |
Inventories
| 169,862,583 | 187,058,140 |
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset
| 199,679 | 199,679 |
Total of current assets 1,069,733,401
| 1,257,495,485 | |
Non-current assets：
Debt investment
Available for sale of financial assets
| 1,565,806,331 | |
Other investment on bonds
Expired investment in possess
Long-term receivable
| 306,460,000 | 306,460,000 |
Long term share equity investment
| 24,827,909,466 | 24,699,820,321 |
Other equity instruments investment
| 1,702,198,436 | |
Other non-current financial assets
Property investment
| 7,502,142 | 7,661,041 |
Fixed assets
| 910,525,491 | 978,022,437 |
Construction in progress
| 11,971,503 | 9,394,075 |
Production physical assets
Oil & gas assets
Use right assets
Intangible assets
86,
| 86,086,080 | 681,362 |
Development expenses
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset
Other non-current asset
| 356,004,000 | 356,004,000 |
Total of non-current assets
| 28,208,657,118 | 28,009,849,567 |
Total of assets 29,278,390,519
| 29,267,345,052 | |
Current liabilitiesShort-term loans
| 1,500,000,000 | 1,500,000,000 |
Transactional financial liabilities
Financial liabilities measured at fair valuewith variations accounted into currentincome account
Derivative financial liabilities
Notes payable & account payable
| 137,347,906 | 223,827,319 |
Advance receipts
Contract Liabilities
Employees’ wage payable
| 47,074,276 | 53,346,100 |
Tax payable
| 23,030,958 | 48,590,195 |
Other account payable 113,289,2
| 50 | 98,528,954 |
Including：Interest payable
| 32,317,102 | 15,787,356 |
Dividend payable
| 9,703,930 | 9,703,930 |
Liabilities held for sales
Non-current liability due within 1 year
Other current liability
| 1,105,927,562 | 1,107,904,110 |
Total of current liability
| 2,926,669,952 | 3,032,196,678 |
Non-current liabilities：
Long-term loan
| 1,500,000,000 | 1,500,000,000 |
Bond payable
| 838,534,277 | 838,326,742 |
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable
| 3,056,898 | 4,340,898 |
Long-term remuneration payable to staff
31,801,833
32,170,769
Expected liabilities
Deferred income
| 48,362,943 | 48,362,943 |
Deferred income tax liability 114,021,905
| 99,461,621 | |
Other non-current liabilities
Total non-current liabilities 2,535,777,856
| 2,522,662,973 | |
Total of liability 5,462,447,808
| 5,554,859,651 | |
Owners’ equityShare capital
| 5,250,283,986 | 5,250,283,986 |
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves
| 5,605,794,601 | 5,605,794,601 |
Less：Shares in stock
Other comprehensive income
| 593,682,531 | 550,010,133 |
Special reserve
Surplus reserves
| 7,834,155,143 | 7,834,155,143 |
Retained profit 4,532,026,450
| 4,472,241,538 | |
Total of owners’ equity 23,815,942,711
| 23,712,485,401 | |
Total of liabilities and owners’ equity 29,278,390,519
| 29,267,345,052 | |
3.Consolidated Income statement
In RMBItems Report period Same period of the previous yearI. Income from the key business
| 5,589,715,802 | 5,812,535,688 |
Including：Business income
| 5,589,715,802 | 5,812,535,688 |
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost
| 5,448,292,472 | 5,861,825,692 |
Including：Business cost
| 4,937,475,435 | 5,380,318,561 |
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net amount of withdrawal of insurance contractreserve
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge
| 41,001,643 | 34,361,198 |
Sales expense
| 6,295,103 | 4,817,203 |
Administrative expense
| 132,305,459 | 133,858,509 |
R & D costs
525,312
| 77,830 |
Financial expenses
| 331,137,001 | 307,944,909 |
Including：Interest expense
| 345,801,584 | 320,957,717 |
Interest income
| 16,268,357 | 14,820,083 |
Asset impairment loss
Credit impairment loss
Add：Other income
| 36,893,397 | 2,894,673 |
Investment gain（“-”for loss）
| 91,517,161 | 116,815,302 |
Including: investment gains from affiliates
| 91,517,161 | 116,815,302 |
Gains from currency exchange
Net exposure hedging income
Changing income of fair value 8,454
Income on disposal of assets
| 30,809 | |
III. Operational profit（“-”for loss） 269,842,342
| 70,450,780 | |
Add ：Non-operational income
| 987,834 | 3,679,083 |
Less: Non-operating expense
| 2,688,294 | 1,189,871 |
IV. Total profit(“-”for loss) 268,141,882
| 72,939,992 | |
Less：Income tax expenses
| 75,526,858 | 9,063,824 |
V. Net profit 192,615,024
| 63,876,168 | |
(I) Classification by business continuity1.Net continuing operating profit 192,615,024
| 63,876,168 | |
2.Termination of operating net profit
(II) Classification by ownership
company
109,518,462
Net profit attributable to the owners of parent
| 5,745,879 | |
Minority shareholders’ equity
| 83,096,562 | 58,130,289 |
VI. Net after-tax of other comprehensive income
| 43,672,399 |
-
Net of profit of other comprehensive income attributable to owners of the parent company.
6,648,91943,672,399
-
| 43,672,399 | 6,648,919 |
（I）
not be reclassified into gains/losses in thesubsequent accounting period
| Other comprehensive income items that will | ||||
| 43,672,399 |
1.Re-measurement of defined benefit plans of changes in net debt or net assets
2.Other comprehensive income under the equitymethod investee can not be reclassified into profit or loss.
3. Changes in the fair value of investments inother equity instruments
43,672,
| 399 |
4. Changes in the fair value of the company’scredit risks
5.Other
（II）Other comprehensive income that will be reclassified into profit or loss.
-
| 6,648,919 | |
1.Other comprehensive income under the equitymethod investee can be reclassified into profit orloss.
2. Changes in the fair value of investments inother debt obligations
3.Gains and losses from changes in fair value available for sale financial assets
-
| 6,648,919 | |
4. Other comprehensive income arising from thereclassification of financial assets
5.Held-to-maturity investments reclassified to gains and losses of available for sale financial assets
6. Allowance for credit impairments ininvestments in other debt obligations
7. Reserve for cash flow hedges
8.Translation differences in currency financial statements
9.Other
Net of profit of other comprehensive income attributable to Minority shareholders’ equity
VII. Total comprehensive income 236,287,423
| 57,227,249 | |
Total comprehensive income attributable to theowner of the parent company
234,920,763
-
| 903,040 | |
Total comprehensive income attributableminority shareholders
| 1,366,660 | 58,130,289 |
VIII. Earnings per share（I）Basic earnings per share 0.0209
0.0011
(II)Diluted earnings per share 0.0209
0.0011
The current business combination under common control, the net profits of the combined party before achieved net profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative: Wang Jin Person in charge of accounting：Liu Wei Accounting Dept Leader: Meng Fei
4. Income statement of the Parent Company
In RMBItems Report period Same period of the previous yearI. Revenue
| 393,185,298 | 465,311,491 |
Including：Business cost
| 424,777,175 | 449,858,137 |
Business tax and surcharge
| 2,653,793 | 1,821,322 |
Sales expense 3
| 50,336 | 437,911 |
Administrative expense
| 16,792,181 | 18,828,427 |
R & D costs
Financial expenses
| 50,152,227 | 47,457,181 |
Including：Interest expenses
| 50,952,925 | 48,844,389 |
Interest income
| 1,394,554 | 1,865,511 |
Asset impairment loss
Credit impairment loss
Add：Other income
Investment gain（“-”for loss）
| 161,309,228 | 195,076,685 |
Including: investment gains fromaffiliates
| 89,089,146 | 114,290,630 |
Net exposure hedging income
Changing income of fair value 8,454
Income on disposal of assets
-
| 32,933 | |
II. Operational profit（“-”for loss） 59,777,267
| 141,952,265 | |
Add ：Non-operational income
| 7,642 | 27,610 |
Less：Non -operational expenses
| 592,734 | |
III. Total profit(“-”for loss) 59,784,909
141,387,
| 141 | |
Less：Income tax expenses
-
| 12,227,011 | |
IV. Net profit 59,784,909
| 153,614,152 | |
1.Net continuing operating profit 59,784,909
| 153,614,152 | |
2.Termination of operating net profit
V. Net after-tax of other comprehensiveincome
-6,648,
| 43,672,399 | 919 |
（I）
that will not be reclassified intogains/losses in the subsequentaccounting period
Other comprehensive income items43,672,399
| 43,672,399 | |
1.Re-measurement of defined benefit plans of changes in net debt or net assets
2.Other comprehensive income under the equity method investee can not be reclassified into profit or loss.
3. Changes in the fair value ofinvestments in other equity instruments
43,672,399
| 43,672,399 | |
4. Changes in the fair value of thecompany’s credit risks
5.Other
（II）Other comprehensive income that will be reclassified into profit or loss.
-
| 6,648,919 | |
1.Other comprehensive income under the equity method investee can be reclassified into profit or loss.
2. Changes in the fair value ofinvestments in other debt obligations
3.Gains and losses from changes in fair value available for sale financial assets
-
| 6,648,919 | |
4. Other comprehensive incomearising from the reclassification offinancial assets
5.Held-to-maturity investments reclassified to gains and losses of available for sale financial assets
6. Allowance for credit impairmentsin investments in other debt obligations
7. Reserve for cash flow hedges
8.Translation differences in currency financial statements
9.Other
VI. Total comprehensive income 103,457,308
| 146,965,233 | |
VII. Earnings per share（I）Basic earnings per share
(II)Diluted earnings per share
5. Consolidated Cash flow statement
In RMBItems Report period Same period of the previous yearI. Cash flows from operating activities
Cash received from sales of goods or
rending of services
Cash received from sales of goods or7,198,521,146
| 7,198,521,146 | 6,909,344,782 |
Net increase of customer depositsand capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans fromother financial bodies
Cash received against originalinsurance contract
Net cash received from reinsurancebusiness
Net increase of client deposit andinvestment
Net increase of amount from disposalfinancial assets that measured by fairvalue and with variation reckoned intocurrent gains/losses
Cash received from interest,commission charge and commission
Net increase of inter-bank fundreceived
Net increase of repurchasing business
Net cash received by agent insecurities trading
Tax returned
| 4,664,390 | 4,180,540 |
Other cash received from businessoperation
| 433,730,029 | 102,634,309 |
Sub-total of cash inflow
| 7,636,915,565 | 7,016,159,631 |
Cash paid for purchasing of
merchandise and services
4,669,079,
| 4,805,190,930 | 682 |
Net increase of client trade andadvance
Net increase of savings in central bankand brother company
Cash paid for original contract claim
Net increase in financial assets heldfor trading purposes
Net increase for Outgoing call loan
Cash paid for interest, processing feeand commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs
| 413,894,277 | 376,566,617 |
Taxes paid
| 460,397,105 | 309,033,731 |
Other cash paid for business activities
| 152,337,595 |
Sub-total of cash outflow from
business activities
,435,8455,831,819,907
| 5,831,819,907 | 5,476,115,875 |
Net cash generated from /used inoperating activities
| 1,805,095,658 | 1,540,043,756 |
II. Cash flow generated by investingCash received from investmentretrieving
Cash received as investment gains
| 121,345 |
Net cash retrieved from disposal offixed assets, intangible assets, andother long-term assets
| 592,258 | 10,100 |
Net cash received from disposal ofsubsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due toinvestment activities
| 713,603 | 10,100 |
Cash paid for construction of fixed
assets, intangible assets and otherlong-term assets
| 745,025,118 | 657,061,177 |
Cash paid as investment
| 78,692,039 |
Net increase of loan against pledge
Net cash received from subsidiariesand other operational units
Other cash paid for investmentactivities
Sub-total of cash outflow due toinvestment activities
| 823,717,157 | 657,061,177 |
Net cash flow generated by investment
-
| 823,003,554 |
-
III.Cash flow generated by financingCash received as investment
657,051,077
| 4,000,000 | |
Including: Cash received as investmentfrom minor shareholders
| 4,000,000 | |
Cash received as loans
| 2,526,712,472 | 2,446,395,253 |
Cash received from bond placing
Other financing –related cash received
Sub-
activities
total of cash inflow from financing2,526,712,472
| 2,526,712,472 | 2,450,395,253 |
Cash to repay debts
| 3,704,558,354 | 3,279,948,065 |
Cash paid as dividend, profit, or
| 2,017,527 | 462,961,076 |
interestsIncluding: Dividend and profit paid bysubsidiaries to minor shareholders
Other cash paid for financing activities
| 712,667 | 137,119,426 |
Sub-total of cash outflow due tofinancing activities
| 4,137,288,548 | 3,880,028,567 |
Net cash flow generated by financing -
-
| 1,610,576,076 | 1,429,633,314 |
IV. Influence of exchange ratealternation on cash and cashequivalents
-
-
| 237 | 446 |
V.Net increase of cash and cashequivalents
-
-
| 628,484,209 | 546,641,081 |
Add: balance of cash and cashequivalents at the beginning of term
| 5,570,382,893 | 4,996,580,490 |
VI ..Balance of cash and cashequivalents at the end of term
| 4,941,898,684 | 4,449,939,409 |
6. Cash Flow Statement of the Parent Company
In RMBItems Amount in this period Amount in last periodI.Cash flows from operating activities
Cash received from sales of goods or
rending of services
Cash received from sales of goods or560,862,026
| 560,862,026 | 543,833,558 |
Tax returned
Other cash received from businessoperation
| 9,331,847 | 16,238,994 |
Sub-total of cash inflow
| 570,193,873 | 60,072,552 |
Cash paid for purchasing ofmerchandise and services
| 430,841,917 | 557,730,970 |
Cash paid to staffs or paid for staffs
| 73,493,740 | 72,942,857 |
Taxes paid
| 26,279,908 | 17,395,705 |
Other cash paid for business activities
| 7,758,990 | 21,649,266 |
Sub-total of cash outflow from
business activities
| 538,374,555 | 669,718,798 |
Net cash generated from /used inoperating activities
-
| 31,819,318 | 109,646,246 |
II. Cash flow generated by investingCash received from investmentretrieving
| 300,000,000 | 87,920,000 |
Cash received as investment gains
| 71,804,024 | 85,567,058 |
Net cash retrieved from disposal offixed assets, intangible assets, andother long-term assets
| 589,130 | 10,100 |
Net cash received from disposal ofsubsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due toinvestment activities
| 372,393,154 | 273,497,158 |
Cash paid for construction of fixed
assets, intangible assets and otherlong-term assets
| 7,473,223 | 29,854,267 |
Cash paid as investment
| 117,379,238 |
Net cash received from subsidiariesand other operational units
Other cash paid for investmentactivities
Sub-total of cash outflow due toinvestment activities
| 124,852,461 | 29,854,267 |
Net cash flow generated by investment
| 247,540,693 | 243,642,891 |
III. Cash flow generated by financingCash received as investment
Cash received as loans
| 899,700,000 | 1,930,000,000 |
Cash received from bond placing
Other financing –related ash received
Sub-total of cash inflow fromfinancing activities
| 899,700,000 | 1,930,000,000 |
Cash to repay debts
| 900,000,000 | 2,159,693,500 |
Cash paid as dividend, profit, orinterests
| 36,399,727 | 90,010,272 |
Other cash paid for financing activities
| 84,195 | 310,954 |
Sub-total of cash outflow due tofinancing activities
| 936,483,922 | 2,250,014,726 |
Net cash flow generated by financing -
-
| 36,783,922 | 320,014,726 |
IV. Influence of exchange ratealternation on cash and cashequivalents
-
-
| 237 | 446 |
V.Net increase of cash and cashequivalents
-
| 242,575,852 | 186,018,527 |
Add: balance of cash and cashequivalents at the beginning of term
| 385,577,464 | 429,724,538 |
VI ..Balance of cash and cashequivalents at the end of term
| 628,153,316 | 243,706,011 |
II Adjustments to the Financial Statements1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of any NewStandards Governing Financial Instruments, Revenue or Leases
√ Applicable □ Not applicable
Consolidated balance sheet
In RMBItems December 31, 2018 January 1, 2019 AdjustmentCurrent asset：
Monetary fund
| 5,574,382,892 | 5,574,382,892 |
Notes receivable & accountreceivable
| 3,358,331,949 | 3,358,331,949 |
Account receivable
| 3,358,331,949 | 3,358,331,949 |
Prepayments
| 906,261,046 | 906,261,046 |
Other account receivable
| 222,976,826 | 222,976,826 |
Including：Interest receivable
| 18,856,570 | 18,856,570 | ||||
Inventories
| 1,481,817,270 | 1,481,817,270 |
Other current assets
| 617,853,476 | 617,853,476 |
Total of current assets
12,161
| 12,161,623,459 | ,623,459 |
Non-current assets：
Available-for-sale financialassets
Not applicable -
| 1,565,806,331 | 1,565,806,331 |
Long-term receivable
| 89,762,071 | 89,762,071 |
Long term share equityinvestment
| 6,395,134,754 | 6,395,134,754 |
Other equity instrumentsinvestment
Not applicable
| 1,565,806,331 | 1,565,806,331 |
Property investment
| 10,810,722 | 10,810,722 |
Fixed assets
| 41,157,594,848 | 41,157,594,848 |
Construction in progress
| 7,740,754,343 | 7,740,754,343 |
Intangible assets
1,863,
| 1,863,588,771 | 588,771 |
Goodwill
| 2,449,886 | 2,449,886 |
Long-germ expenses to beamortized
| 22,089,179 | 22,089,179 |
Deferred tax assets
| 448,431,684 | 448,431,684 |
Other non-current asset
| 1,871,616,258 | 1,871,616,258 |
Total of non-current assets 61,168,038,847
| 61,168,038,847 | |||
Total of assets
| 73,329,662,306 | 73,329,662,306 |
Current liabilitiesShort-term loans
| 7,526,000,000 | 7,526,000,000 |
Notes payable & accountpayable
| 3,137,761,522 | 3,137,761,522 |
Advance payment
| 343,894 | 343,894 |
Employees’ wage payable
| 235,741,179 | 235,741,179 |
Tax payable
| 397,001,706 | 397,001,706 |
Other account payable
| 4,152,518,495 | 4,152,518,495 |
Including：Interest payable
| 59,316,076 | 59,316,076 |
Dividend payable
| 9,703,930 | 9,703,930 |
Non-current liability duewithin 1 year
| 2,779,347,654 | 2,779,347,654 |
Other current liability
| 1,107,904,110 | 1,107,904,110 |
Total of current liability
| 19,336,618,560 | 19,336,618,560 |
Non-current liabilities：
Long-term loan
| 18,802,292,664 | 18,802,292,664 |
Bond payable
| 838,326,742 | 838,326,742 |
Long-term payable
| 2,311,513,249 | 2,311,513,249 |
Deferred income
| 133,043,646 | 133,043,646 |
Deferred income tax liability
| 100,726,841 | 100,726,841 |
Other non-current liability
| 166,405,569 | 166,405,569 |
Total non-current liabilities
| 22,475,222,099 | 22,475,222,099 |
Total of liability
| 41,811,840,659 | 41,811,840,659 |
Owners’ equityShare capital
| 5,250,283,986 | 5,250,283,986 |
Capital reserves
| 5,102,846,886 | 5,102,846,886 |
Other comprehensive income 5
| 50,010,133 | 550,010,133 |
Surplus reserves
| 7,834,155,143 | 7,834,155,143 |
Retained profit
| 5,490,006,140 | 5,490,006,140 |
the parent company
Total of owner’s equity belong to24,227,302,288
| 24,227,302,288 | 24,227,302,288 |
Minority shareholders’ equity 7,290,519,359
| 7,290,519,359 | |||
Total of owners’ equity
| 31,517,821,647 | 31,517,821,647 |
Total of liabilities and owners’equity
| 73,329,662,306 | 73,329,662,306 |
Adjustment statementAccording to the relevant requirements of the Ministry of Finance's new financial instruments standards, domesticlisted enterprises will implement the accounting standards related to new financial instruments as of January 1,2019, so the Company will adjust the "available-for-sale financial assets" to the "investment in other equityinstruments" account at the beginning of this year.Parent Company Balance Sheet
In RMBItems December 31, 2018 January 1, 2019 AdjustmentCurrent asset：
Monetary fund
| 385,577,463 | 385,577,463 |
Notes receivable &account receivable
264,
| 264,537,475 | 537,475 |
Account receivable
| 264,537,475 | 264,537,475 |
Prepayments
| 44,826,500 | 44,826,500 |
Other account receivable
| 375,296,228 | 375,296,228 |
Including：Interestreceivable
| 1,121,522 | 1,121,522 |
Dividend receivable
| 447,956 | 447,956 |
Inventories
| 187,058,140 | 187,058,140 |
Other current assets
| 199,679 | 199,679 |
Total of current assets
| 1,257,495,485 | 1,257,495,485 |
Non-current assets：
Available-for-salefinancial assets
Not applicable -
| 1,565,806,331 | 1,565,806,331 |
Long term receivable
| 306,460,000 | 306,460,000 |
Long term share equityinvestment
| 24,699,820,321 | 24,699,820,321 |
Other equity instrumentsinvestment
Not applicable
| 1,565,806,331 | 1,565,806,331 |
Property investment
| 7,661,041 | 7,661,041 |
Fixed assets 978,
| 022,437 | 978,022,437 |
Construction in progress
| 9,394,075 | 9,394,075 |
Intangible assets
| 86,681,362 | 86,681,362 |
Other non-current asset
| 356,004,000 | 356,004,000 |
Total of non-current assets
| 28,009,849,567 | 28,009,849,567 |
Total of assets 29,26
| 7,345,052 | 29,267,345,052 |
Current liabilitiesShort-term loans
| 1,500,000,000 | 1,500,000,000 |
Notes payable & Accountpayable
| 223,827,319 | 223,827,319 |
Employees’ wage payable
| 53,346,100 | 53,346,100 |
Tax payable
| 48,590,195 | 48,590,195 |
Other account payable
| 98,528,954 | 98,528,954 |
Including：Interest payable
| 15,787,356 | 15,787,356 | ||||
Dividend payable
| 9,703,930 | 9,703,930 |
Other current liability
| 1,107,904,110 | 1,107,904,110 |
Total of current liability
3,032,196,678
| 3,032,196,678 |
Non-current liabilities：
Long-term loan
| 1,500,000,000 | 1,500,000,000 |
Bond payable
| 838,326,742 | 838,326,742 |
Long-term payable
| 4,340,898 | 4,340,898 |
Deferred income
| 48,362,943 | 48,362,943 |
Deferred income taxliability
| 99,461,621 | 9,461,621 |
Total of Non-currentliabilities
| 2,522,662,973 | 2,522,662,973 |
Total of liability
| 5,554,859,651 | 5,554,859,651 |
Owners’ equityShare capital
| 5,250,283,986 | 5,250,283,986 |
Capital reserves
| 5,605,794,601 | 5,605,794,601 |
Other comprehensiveincome
| 550,010,133 | 550,010,133 |
Surplus reserves
| 7,834,155,143 | 7,834,155,143 |
Retained profit
| 4,472,241,538 | 4,472,241,538 |
Total of owners’ equity
| 23,712,485,401 | 23,712,485,401 |
Total of liabilities andowners’ equity
29,267,345,
| 052 | 29,267,345,052 |
Adjustment statementAccording to the relevant requirements of the Ministry of Finance's new financial instruments standards, domesticlisted enterprises will implement the accounting standards related to new financial instruments as of January 1,2019, so the Company will adjust the "available-for-sale financial assets" to the "investment in other equityinstruments" account at the beginning of this year.2. Retrospective Restatement of Previous Comparative Data due to the First Execution of any NewStandards Governing Financial Instruments or Leases□ Applicable √ Not applicableIII. Auditor’ reportIs the First Quarterly Report be audited?□ Yes √NoThe First Quarterly report is not audited.
The Board of Directors of Guangdong Electric Power Development Co., Ltd.
Chairman of the Board: Wang JinApril 30, 2019