Stock code: 000539,200539 Stock Abbreviation: Yue Dian Li A, Yue Dian Li BAnnouncement No.: 2021-58Corporate bond code: 149113 Abbreviation of corporate bond:20 Yudean 01Corporate bond code: 149369 Abbreviation of corporate bond:21 Yudean 01Corporate bond code: 149418 Abbreviation of corporate bond:21 Yudean 02
Guangdong Electric power Development Co., Ltd.Summary of the Semi-Annual Report 2021I. Important notesThe summary is abstract from full-text of the semi-annual report, for more details information , investors shouldfound in the full-text of the semi-annual report that published on website of Shenzhen Stock Exchange and otherwebsite appointed by CSRC.Directors other than the following ones have attended the Board meeting to review the Semi-annual report.
| Name of absent director | Position of absent director | Reason | Name of proxy |
| Mao Qinghan | Director | Due to business | Wang Xi |
| Shen Hongtao | Independent director | Due to business | Wang Xi |
| Li Fangje | Director | Due to business | Li Baobing |
Non-standard auditor’s opinion
□ Applicable √Not applicable
Preliminary plan for profit distribution to the common shareholders or turning the capital reserve into the sharecapital 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 listing | Shenzhen Stock Exchange | |||
| Contact person and contact manner | Board secretary | Securities affairs Representative | ||
| Name | Liu Wei | Qin Xiao | ||
| Address | 35/F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province | 36/F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province | ||
| Tel | (020)87570251 | (020)87570251 | ||
| liuw@ged.com.cn | qinxiao@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
□ Yes√ No
| Reporting period | Same period of last year | YoY+/-（%） | |
| Operating income（RMB） | 17,781,521,221 | 12,539,917,823 | 41.80% |
| Net profit attributable to the shareholders of the listed company（RMB） | 109,028,853 | 813,684,495 | -86.60% |
| Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（RMB） | 90,377,204 | 784,542,709 | -88.48% |
| Cash flow generated by business operation, net（RMB） | 3,096,857,643 | 4,018,221,897 | -22.93% |
| Basic earning per share(RMB/Share) | 0.0208 | 0.1550 | -86.60% |
| Diluted gains per share(RMB/Share)(RMB/Share) | 0.0208 | 0.1550 | -86.60% |
| Weighted average ROE(%) | 0.40% | 3.03% | -2.63% |
| As at the end of the reporting period | As at the end of last year | YoY+/-（%） | |
| Gross assets (RMB) | 92,331,563,629 | 85,970,818,168 | 7.40% |
| Net assets attributable to shareholders of the listed company （RMB） | 26,933,339,749 | 27,369,995,422 | -1.60% |
3. Shareholders and shareholding
In shares
| Total Number of common shareholders at the end of the reporting period | 90,117 | Number of shareholders of preferred stocks of which voting rights recovered in the report period(If any) | 0 | ||||
| Shareholdings of Top 10 shareholders | |||||||
| Shareholders | Nature of shareholder | Proportion of shares held（%） | Number of shares held at period -end | Amount of restricted shares held | Number or share pledged/frozen | ||
| State of share | Amount | ||||||
| Guangdong Energy Group Co., Ltd. | State-owned legal person | 67.39% | 3,538,005,285 | 1,893,342,621 | |||
| Guangzhou Development Group Co., Ltd. | State-owned legal person | 2.22% | 116,693,602 | ||||
| China Securities Finance Co., Ltd. | State-owned legal person | 1.93% | 101,323,877 | ||||
| Guangdong Electric Power Development Corporation | State-owned legal person | 1.80% | 94,367,341 | ||||
| Li Zhuo | Domestic Natural person | 1.32% | 69,463,211 | ||||
| Zheng Jianxiang | Domestic Natural person | 0.48% | 25,128,874 | ||||
| Harbin Hali Industry Co., Ltd. | Domestic Non-State owned legal person | 0.48% | 25,030,385 | ||||
| VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | Overseas Legal person | 0.30% | 15,855,512 | ||||
| CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD | Overseas Legal person | 0.29% | 15,216,066 | ||||
| Harbin Daoli District Charity | Domestic | 0.26% | 13,659,108 | ||||
| Foundation | Non-State owned legal person | |
| Explanation on associated relationship among the aforesaid shareholders | The fourth largest shareholder Guangdong Electric Power Development Corporation is the wholly-owned subsidiaries of the largest shareholder 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 trading business(if any ) | The Fifth largest shareholder Li Zhuo holds 1,307,620 A shares of the Company through A shares ordinary stock account, and holds68,155,591A shares of the Company through stock account with credit transaction and guarantee. hold 69,463,211 shares of the Company's stock totally. The Seventh largest shareholder Harbin Hali Industry Co., Ltd. holds300 A shares of the Company through A shares ordinary stock account, and holds25,030,085A shares of the Company through stock account with credit transaction and guarantee, hold 25,030,385 shares of the Company's stock totally. | |
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 name | Bond short name | Bond code | Issue day | Due day | Bond balance (Ten thousand yuan ) | Interest rate |
| Public Issuance of Corporate Bonds to Qualified Investors in 2020 (Phase I) of Guandong Electric Power Development Co.,Ltd. | 20 Yudean 01 | 149113.SZ | April 29,2020 | April 29,2025 | 150,000 | 2.45% |
| Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase I) of Guandong Electric Power Development Co.,Ltd. | 21 Yudean 01 | 149369.SZ | January 27,2021 | January 27,2024 | 100,000 | 3.57% |
| Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase II) of Guandong Electric Power Development Co.,Ltd. | 21Yudean 02 | 149418.SZ | April 28,2021 | April 28,2026 | 150,000 | 3.50% |
| Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase I) of Guangdong Pinghai Power Generation Plant Co., Ltd. | 21 Pinghai 01 | 188197.SH | June 4,2021 | June 4,2023 | 20,000 | 3.57% |
| Guangdong Provincial Expressway Development Co., Ltd.2021 first phase Ultra-short term financing bills | 21 Yeduan FA SCP001 | 012100376 | January 26,2021 | July 23,2021 | 80,000 | 2.65% |
| Guangdong Provincial Expressway Development Co., Ltd. 2018 first phase medium-term notes | 18 Yeduan FA MTN001 | 101800948 | August 27,2018 | August 27,2021 | 80,000 | 4.19% |
（2）Main accounting data and financial indicators of the Company in recent two years by the end of thereporting period
In RMB 10,000
| Items | At the end of the reporting period | At the end of last year |
| Debt ratio | 62.05% | 56.62% |
| Items | At the end of the reporting period | At the end of last year |
| EBITDATime interest earned ratio | 3.85 | 5.62 |
III. Significant eventsIn the first half of 2021, the domestic macro-economy has been operated steadily and improved, and the industrialelectricity demand has been picked up rapidly. The electricity consumption of the whole society in GuangdongProvince was 364.339 billion kWh, a sharp increase of 22.89% YOY. From January to June 2021, the Companycompleted 44.757 billion kilowatt-hours of on-grid electricity, an increase of 43.07% YOY. The averageutilization hours of the holding coal-fired units by the Company were 2,371 hours, an increase of 607 hours YOY.
In 2021, the scale of market-oriented transactions in Guangdong Province will continue to expand. According tothe data released by the Guangdong Power Exchange Center, the annual bilateral negotiated transaction volumeorganized by it is 215.11 billion kWh, with an average price difference of -0.0536 RMB/kWh. In the first half of2021, the monthly centralized bidding transaction electricity volume in Guangdong Province was 36.89 billionkWh, an increase of 274.9% YOY, and the average clearing price difference was -0.0304RMB/kWh. In 2021, theCompany’s budgetary on-grid power is 78.469 billion kWh, of which the base power is 7.716 billionkWh-accounting for about 10%; the contracted annual long-term agreement power is 51.070 billionkWh-accounting for about 65%; the remaining part is monthly bidding and power generation rights transferredand spot electricity-accounting for about 25%. In the first half of 2021, the average price of electricity sold by theconsolidated statement was 440.05 yuan/K kWh (tax included, the same below), a YOY decrease of 2.41 yuan/KKWh.
In the first half of 2021, benefiting from the gradual recovery of the domestic macro-economy and the increase intotal social electricity demand, the Company's on-grid electricity increased by 43% YOY in the first half of theyear. However, due to the increase in bulk commodity prices, the cost of coal and gas power generation fuelsincreased significantly YOY, plus the influence of factors such as the lowering of the benchmark on-grid price ofnatural gas, the increase in market transaction electricity and the power spot trial operation, the gross profit marginof the main business fell by 13.64% YOY, and the semi-annual performance fell YOY. As of June 30, 2021, thetotal assets in the Company's consolidated statements are 92.331 billion yuan, an increase of 7.40% from thebeginning of the year; the equity attributable to shareholders of the parent company is 26.933 billion yuan, a YOYdecrease of 1.60%. The Company achieved the operating income of 17.781 billion yuan in the consolidatedstatement, a YOY increase of 41.80%; the net profit attributable to shareholders of the parent company was 109million yuan, a YOY decrease of 86.60%; the earnings per share were 0.0208 yuan (0.155 yuan in the same periodlast year). The total liabilities in the Company's consolidated statements amounted to 57.291 billion yuan, and theasset-liability ratio was 62.05%.
In the first half of 2021, Guangdong Wind Power Co., Ltd-a wholly-owned subsidiary of the Company-completedthe acquisition of Xuwen Wutushan Wind Farm 49,500 kilowatts and Xuwen Dengjiaolou Wind Farm 49,500kilowatts, completed and put into production of Pingyuan Maoping Project 48,000 kilowatts (passed 240hoperation), thus increased a total of 147,000 kilowatts of newly installed capacity. As of June 30, 2021, the
Company has a controllable installed capacity of 23.473 million kilowatts, a YOY increase of 10.76%, of whichthe proportion of clean energy increased to 21.2%. In the future, the Company will also adhere to the newdevelopment concept, implement the "1+2+3+X" strategy, continue to promote the optimization and adjustment ofthe power supply structure, and actively integrate into the Guangdong-Hong Kong-Macao Greater Bay Area, theShenzhen Pilot Demonstration Zone and Guangdong's "One Core, One Belt, One District" Development, activelyrespond to our country’s carbon peak and carbon neutral "30?60" goal, and vigorously promote the Company'sclean and low-carbon energy transformation.