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粤电力B：2024年半年度报告(英文版) （下载公告）
公告日期:2024-08-31

GUANGDONG ELECTRIC POWER DEVELOPMENT CO., LTD.

The Semi-annual Report 2024

August 2024

I. Important Notice, Table of Contents and DefinitionsThe Board of Directors , Supervisory Committee ,Directors, Supervisors and Senior Executives of theCompany hereby guarantees that there are no misstatement, misleading representation or important omissions inthis report and shall assume joint and several liability for the authenticity, accuracy and completeness of thecontents hereof.

Mr.Zheng Yunpeng, The Company leader, Mr. Liu Wei, Chief financial officer and the Mr.Meng Fei, theperson in charge of the accounting department (the person in charge of the accounting )hereby confirm theauthenticity and completeness of the financial report enclosed in this semi-annual report.

All directors have attended the Board meeting to consider the semi-annual report

The main business of the company is the investment, construction and operation management of powerprojects and new energy projects. For the risks and countermeasures that the company may face in its futuredevelopment, Refer to Section 10 of Chapter III of this annual report-situation faced and countermeasures forrelevant information.

The Company Will not distribute cash dividend or bonus shares, neither capitalizing of common reserves.

Table of Contents

I.Important Notice, Table of contents and DefinitionsII. Company Profile & Financial Highlights.III. Management Discussion & AnalysisIV. Corporate GovernanceV. Environmental & Social ResponsibilityVI. Important EventsVII. Change of share capital and shareholding of Principal ShareholdersVIII. Situation of the Preferred SharesIX. Corporate BondX. Financial Report

Documents available for inspection

1.Financial statements bearing the seal and signature of legal representative, financial controller and theperson in charge of the accounting organ;

2..All original copies of official documents and notices, which were disclosed in China Securities Journal,Securities Times, Shanghai Securities News, Securities Daily and Hong Kong Commercial Daily (Both Englishand Chinese version);

3.Chinese version of the semi-annual report.

The documents mentioned above are kept in office, and are ready for reference at any time (except publicholidays, Saturday and Sunday).

Definition

Terms to be definedRefers toDefinition
Guangdong Energy GroupRefers toGuangdong Energy Group Co.
Maoming Thermal Power PlantRefers toGuangdong Energy Maoming Thermal Power Plant Co.
Jinghai Power GenerationRefers toGuangdong Yuedian Jinghai Power Generation Co.
Technical Engineering CompanyRefers toGuangdong Yuedian Technology & Engineering Management Co.
Humen Power GenerationRefers toGuangdong Yudean Humen Power Generation Co.
Boga EnergyRefers toGuangdong Yudean Boga Energy Co.
Huadu Natural GasRefers toGuangdong Yudean Huadu Natural Gas Cogeneration Co.
Tai Po Power GenerationRefers toGuangdong Yudean Tai Po Power Generation Co.
Zhanjiang PowerRefers toZhanjiang Electric Power Co.
Yuejia PowerRefers toGuangdong Yuejia Power Co.
Shaoguan Power PlantRefers toGuangdong Yudean Shaoguan Power Plant Co.
Zhongyue EnergyRefers toZhanjiang Zhongyue Energy Co.
Power Sales CompanyRefers toGuangdong Yueyang Electric Power Sales Co.
Lincang EnergyRefers toLincang Guangdong Power Energy Co.
Guangqian PowerRefers toShenzhen Guangqian Electric Power Co.
Huizhou Natural GasRefers toGuangdong Huizhou Natural Gas Power Generation Co.
Pinghai Power PlantRefers toGuangdong Huizhou Pinghai Power Plant Co.
Honghai Bay Power GenerationRefers toGuangdong Honghai Bay Power Generation Co.
Hongrui TechnologyRefers toGuangdong Yuejiang Hongrui Power Technology Development Co.
Yongan Natural GasRefers toGuangdong Yueyang Yongan Natural Gas Cogeneration Co.
Pingdian IntegratedRefers toHuizhou Pingdian Integrated Energy Co.
Binhai Bay CompanyRefers toGuangdong Yudean Binhai Bay Energy Co.
Daya Bay CompanyRefers toGuangdong Yudean Daya Bay Integrated Energy Co.
Qiming CompanyRefers toGuangdong Yuedian Qiming Energy Co.
Huaguoquan CompanyRefers toShenzhen Huaguoquan Electricity Service Co.
Tai Nanhai CompanyRefers toGuangdong Yudean Dahanhai Intelligent Energy Co.
Sha C CompanyRefers toGuangdong Shajiao (C Plant) Power Generation Co.
Guanghe PowerRefers toGuangdong Guanghe Power Co.
Biomass Power GenerationRefers toGuangdong Yudean Zhanjiang Biomass Power Generation Co.
Xinhui Power GenerationRefers toGuangdong Yudean Xinhui Power Generation Co.
Yunhe PowerRefers toGuangdong Yudean Yunhe Power Generation Co.
YunDian EnergyRefers toYunfu Yundian Energy Co.
Yuehua PowerRefers toGuangdong Yuehua Power Generation Co.
Yuehua Integrated EnergyRefers toGuangdong Yudean Yuehua Integrated Energy Co.
Huangpu Power EngineeringRefers toGuangzhou Huangpu Electric Power Engineering Co.
Maoming Natural GasRefers toGuangdong Yudean Maoming Natural Gas Cogeneration Co.
Huixin Thermal PowerRefers toGuangdong Yudean Huixin Thermal Power Co.
Guangdong Wind PowerRefers toGuangdong Wind Power Generation Co.
Zhanjiang Wind PowerRefers toGuangdong Yudean Zhanjiang Wind Power Generation Co.
Xuwen Wind PowerRefers toGuangdong Yuedian Xuwen Wind Power Generation Co.
Dianbai Wind PowerRefers toGuangdong Yudean Dianbai Wind Power Co.
Qujie Wind PowerRefers toGuangdong Yudean Qujie Wind Power Co.
Yangjiang Wind PowerRefers toGuangdong Yudean Yangjiang Offshore Wind Power Co.
Shibishan Wind PowerRefers toGuangdong Yudean Shibishan Wind Power Development Co.
Leizhou Wind PowerRefers toGuangdong Yudean Leizhou Wind Power Generation Co.
Channel CompanyRefers toGuangDong YueXin Wind Power Generation Co.
Electricity Pingyuan WindRefers toGuangdong Yueyang Pingyuan Wind Power Co.
Heping Wind PowerRefers toGuangdong Yudean Heping Wind Power Co.
Huilai WindRefers toHuilai Wind Power Co.
Xupu YuefengRefers toHunan Xupu Yuefeng New Energy Co.
Wuxuan YuefengRefers toGuangxi Wuxuan Yuefeng New Energy Co.
Zhuhai Wind PowerRefers toGuangdong Yuedian Zhuhai Offshore Wind Power Co.
Green Island Offshore WindRefers toGuangdong Energy Qingzhou Offshore Wind Power Co.
Guangdong Wind PowerRefers toGuangdong YUE Wind Power Co.
Luoding YuefengRefers toYunfu Luoding Yuefeng New Energy Co.
Zhao Cheng YuefengRefers toLinfen Zhaocheng Yuefeng New Energy Co.
Xintian YuefengRefers toXintian Yuefeng New Energy Co.
Lanshan YuefengRefers toLanshan Yuefeng New Energy Co.
Jincheng YuefengRefers toJincheng Yuefeng New Energy Co.
Baiyin YuefengRefers toBaiyin Yuefeng New Energy Co.
Yunan YuexinRefers toYunfu Yunan Yuexin Power Generation Co.
Yuhai YuefengRefers toLingao County Yuhai Yuefeng New Energy Co.
Bijie New EnergyRefers toGuangdong Yudean Bijie New Energy Co.
Shangyang EnergyRefers toZhanjiang Shangyang Energy Technology Co.
Guidian EnergyRefers toZhanjiang Botou District Guidian Energy Technology Co.
Shunfeng New EnergyRefers toXihua Shunfeng New Energy Co.
Jindian New EnergyRefers toWuzhi Jindian New Energy Technology Co.
Lianjiang New EnergyRefers toLianjiang Yuefeng New Energy Co.
Shaoguan New EnergyRefers toGuangdong Shaoguan Yue Power New Energy Co.
Hanhai New EnergyRefers toTumushuke Guangdong Power Hanhai New Energy Co.
Jinxiu Integrated EnergyRefers toGD Power Jinxiu Integrated Energy Co.
Senhong New EnergyRefers toNanjing Senhong New Energy Co.
Mu Hong New EnergyRefers toJinchang Muhong New Energy Co.
Senhai New EnergyRefers toNanjing Linyuan Senhai New Energy Co.
Mu Jin New EnergyRefers toJinchang Jieyuan Muzhin New Energy Co.
Huibo New EnergyRefers toGuangdong Yudean Huibo New Energy Co.
Dongrun Zhongneng New EnergyRefers toTaishan Dongrun Zhongneng New Energy Co.
Dongrun Qingneng New EnergyRefers toTaishan Dongrun Qingneng New Energy Co.
Runze Jieyuan New EnergyRefers toTaishan Runze Jieyuan New Energy Co.
Xingyue New EnergyRefers toMeizhou Xingyue New Energy Co.
Xin Guangyao New EnergyRefers toLaixi Xin Guangyao New Energy Technology Co.
Special Union New EnergyRefers toLaixi Telian New Energy Technology Co.
Lianyao New EnergyRefers toPingdu Lianyao New Energy Technology Co.
Jiuzhou New EnergyRefers toJiuzhou New Energy (Zhaoqing) Co.
Changshan Wind EnergyRefers toXiangtan Xiangdian Changshan Wind Power Co.
Luoding New EnergyRefers toYunfu Luoding Yuedian New Energy Co.
Zhenneng New EnergyRefers toYunfu Yuedian Zhenneng New Energy Co.
Zhonggong New EnergyRefers toZhonggong Energy Technology (Maoming) Co.
Yahua New EnergyRefers toYawar New Energy Technology (Gaozhou) Co.
Nanxiong New EnergyRefers toShaoguan Nanxiong Yuefeng New Energy Co.
Wanhaowei New EnergyRefers toZhanjiang Wanhaowei New Energy Co.
Wanchuang Hengwei New EnergyRefers toZhanjiang Wanchuang Hengwei New Energy Co.
Nanhua New EnergyRefers toGuangdong Guangye Nanhua New Energy Co.
Datang New EnergyRefers toGuangdong Yue Energy Datang New Energy Co.
Wuhua New EnergyRefers toMeizhou Wuhua Yuefeng New Energy Co.
Yingyang New EnergyRefers toLotus Yingyang New Energy Technology Co.
Li-Neng New EnergyRefers toLotus Yingyang New Energy Technology Co.
Longmen New EnergyRefers toHuizhou Longmen Yuefeng New Energy Co.
Inner Mongolia New EnergyRefers toInner Mongolia Yuefeng New Energy Co.
Zhuhai New EnergyRefers toZhuhai Yuefeng New Energy Co.
Shion New EnergyRefers toDacheng Shion New Energy Co.
Gaotang New EnergyRefers toGaotang Shihui New Energy Co.
Zhuhai Yuedian New EnergyRefers toZhuhai Yuedian New Energy Co.
Gaozhou New EnergyRefers toGaizhou GD Power Intelligent New Energy Co.
Lianjiang New EnergyRefers toLianjiang Hangneng New Energy Co.
Hurun New EnergyRefers toEddy County Hurun New Energy Technology Co.
Guangxi Air EnergyRefers toGuangxi Hangneng New Energy Co.
Yuncheng Wanquan YuefengRefers toYuncheng Wanquan Yuefeng New Energy Co.
AVIC ShenxinRefers toAVIC Shenxin Wind Power Co.
Yue New EnergyRefers toZhanjiang Yuexin Distributed Energy Technology Co.
Xinjiang CompanyRefers toGuangdong Energy Group Xinjiang Co.
Tumushuke Thermal PowerRefers toTumushuke Thermal Power Co.
Shache Comprehensive EnergyRefers toYudean Shache Comprehensive Energy Co.
Tumushuke ChangheRefers toTumushuke Guangdong Power Changhe New Energy Co.
Xinjiang Comprehensive EnergyRefers toGD Power Xinjiang Integrated Energy Co.
Torkun EnergyRefers toGuangneng Torkun New Energy Power Generation Co.
Industrial FuelRefers toGuangdong Electric Power Industry Fuel Co.
Taishan Power GenerationRefers toGuoneng Yuedaishan Power Generation Co.
Energy Group Finance CompanyRefers toGuangdong Energy Group Finance Co.
Guangdong Power ShippingRefers toGuangdong Yudean Shipping Co.
Shanxi Guangdong Power EnergyRefers toShanxi Yuedian Energy Co.
Energy Finance and InsuranceRefers toGuangdong Energy Property Insurance Co.
WeiXin YunTouRefers toYunnan Energy Investment Weixin Energy Co.
Energy Finance Leasing CompanyRefers toGuangdong Energy Finance Leasing Co.
Yueqian PowerRefers toGuizhou Yueqian Electric Power Co.
Zhongshankeng PowerRefers toYangshan Centre Keng Electric Power Co.
Jiangkeng HydropowerRefers toYangshan County Jiangkeng Hydropower Station Co.
Southern Offshore Wind PowerRefers toSouthern Offshore Wind Power Joint Development Co.
Sunshine InsuranceRefers toSunshine Insurance Group Co.
Shenzhen Venture CapitalRefers toShenzhen Innovation Investment Group Co.
Guoyi TenderRefers toGuoyi Bidding Co.
Shenzhen EnergyRefers toShenzhen Energy Group Co.
ShennengRefers toShenneng Co.
Environmental Protection CompanyRefers toGuangdong Yuedian Environmental Protection Co.
Yunfu B Power PlantRefers toYunfu Power Plant (B Plant) Co.
Shantou Huaneng Wind PowerRefers toHuaneng Shantou Wind Power Co.

II. Company Profile & Financial Highlights.I. Company Profile

Stock abbreviationYue Dian Li A, Yue Dian Li BStock code：000539.SZ,200539.SZ
Stock exchange for listingShenzhen Stock Exchange
Name in Chinese广东电力发展股份有限公司
Abbreviation of Registered Company Name in Chinese(粤电力
English name (If any)GUANGDONG ELECTRIC POWER DEVELOPMENT CO.,LTD
English abbreviation (If any)GED
Legal RepresentativeZheng Yunpeng

Ⅱ. Contact person and contact manner

Board secretarySecurities affairs Representative
NameLiu WeiHang Xiaowen
Contact address35F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province35F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province
Tel(020)87570251(020)87570251
Fax(020)85138084(020)85138084
E-mailliuw@ged.com.cnhuangxiaowen@ged.com.cn

III. Other info.

1. Way of contact

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

Registrations address, offices address and codes as well as website and email of the Company has nochange in reporting period, found more details in annual report 2023.

2. Information inquiry

Whether information disclosure and preparation place changed in reporting period or not

□ Applicable √ Not applicable

None of the official presses, website, and place of enquiry has been changed in the semi report period. Fordetails please find the Annual Report 2023.

3. Other relevant information

Did any change occur to other relevant information during the reporting period?

□ Applicable √ Not applicable

IV. Summary of Accounting data and Financial indexWhether it has retroactive adjustment or re-statement on previous accounting data

□Yes √No

Reporting periodSame period of last yearChanges of this period over same period of Last year(%)
Operating income（Yuan）26,078,790,97128,340,840,884-7.98%
Net profit attributable to the shareholders of the listed company（Yuan）902,938,860856,538,6335.42%
Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（Yuan）886,059,830849,010,7274.36%
Cash flow generated by business operation, net（Yuan）6,006,225,0712,720,370,016120.79%
Basic earning per share(Yuan/Share)0.1720.16315.42%
Diluted gains per share(Yuan/Share)0.1720.16315.42%
Weighted average ROE(%)4.03%3.86%0.17%
As at the end of the reporting periodAs at the end of last yearChanged over last year（％）
Gross assets（Yuan）164,569,341,102161,207,283,0872.09%
Net assets attributable to shareholders of the listed company（Yuan）22,680,612,86322,141,735,4602.43%

V.The differences between domestic and international accounting standards

1).Simultaneously pursuant to both Chinese accounting standards and international accountingstandards disclosed in the financial reports of differences in net income and net assets.

□ Applicable□√ Not applicable

None

2).Differences of net profit and net assets disclosed in financial reports prepared under overseas andChinese accounting standards.

□ Applicable √Not applicable

None

VI.Items and amount of non-current gains and losses

√Applicable □Not applicable

In RMB

ItemsAmountNote
Non-current asset disposal gain/loss(including the write-off part for which assets impairment provision is made)10,435Disposal of right-of-use assets.
Government subsidies recognized in current gain and loss(excluding those closely related to the Company’s business and granted under the state’s policies)11,546,345It was mainly the economic policy incentives for power sales and subsidies for various power plant projects.
One-off costs incurred by the enterprise as a result of the relevant business activities no longer continuing, such as expenses for relocating employees-5,199,814Sha A Power Plant terminated the contract with one-time compensation and one-time compensation for internal retired.
Other non-business income and expenditures other than the above38,970,028
Non-current assets scrap income10,103,480Mainly due to the income from the demolition and disposal of houses of Yuehua Power Generation.
Income from carbon emission quota trading1,881,635It’s mainly the income from the trading of carbon emission allowances of the Pinghai Power Plant.
Loss of Non-current assets scrapped-9,701,664It’s mainly the scrapping of the Yunhe power generation boiler body, the loss of coal machinery inventory disposal and the scrapping of fixed assets of Yuehua Company.
Less: Amount of influence of income tax14,711,087
Influenced amount of minor shareholders’ equity (after tax)16,020,328
Total16,879,030

Details of other profit and loss items that meet the non-recurring profit and loss definition

□ Applicable√ Not applicable

NoneFor the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 oninformation disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Lossesand its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on informationDisclosure for Companies offering their securities to the public-non-recurring Gains and losses which have beendefined as recurring gains and losses, it is necessary to explain the reason.

√ Applicable □ Not applicable

ItemsAmount involved(RMB)Reason
Value-added tax will be refunded immediately16,007,406Comply with national policies and regulations, and continue to occur.
Carbon emission quota used to fulfill the emission reduction obligation-150,950,755Comply with national policies and regulations, and continue to occur.

III. Management Discussion & Analysis

Ⅰ.Main Business the Company is Engaged in During the Report PeriodThe company is mainly engaged in the investment, construction and management of electric powerprojects, new energy projects, and the production and sale of electric power, which belongs to the electric powerand heat production and supply industry in the Guidelines for Industry Classification of Listed Companies ofthe China Securities Regulatory Commission. Since its establishment, the company has been adhering to thebusiness tenet of ‘taking capital from the people, using capital in electricity, and benefiting the public’ and thebusiness policy of ‘running electricity as the mainstay, diversified development’, focusing on the main businessof electric power, and diversifying the power supply structure with large-scale coal-fired power generation,natural gas-fired power generation, biomass power generation, wind power generation, wind power generationand power supply. It has a diversified power supply structure with large-scale coal-fired power generation,natural gas power generation, biomass power generation, wind power generation, solar power generation andhydroelectric power generation, etc., and provides reliable and clean energy to customers through the powergrid company. As at 30 June 2024, the Company had a controllable installed capacity of 38,451,100 kilowatts,of which 36,092,300 kilowatts were owned by the Company and 2,358,800 kilowatts were owned by theCompany. Among them: coal-fired power generation holding installed capacity of 19.89 million kilowatts,accounting for 55.11 per cent; gas power holding installed capacity of 10.1910 million kilowatts, accounting for

28.24 per cent; wind power holding installed capacity of 3.395 million kilowatts, accounting for 9.41 per cent;photovoltaic holding installed capacity of 2.3835 million kilowatts, accounting for 6.60 per cent;hydroelectricity holding installed capacity of 132,800 kilowatts; Biomass holding installed capacity of 100,000kilowatts; the above wind power, hydropower, photovoltaic, biomass and other renewable energy powergeneration holding installed capacity of 6,011,300 kilowatts, accounting for 16.66%. In addition, the companyis entrusted with the management of the installed capacity of 8,854,000 kilowatts, the above controlled installedcapacity, entrusted with the management of the installed capacity totalled 46,993,100 kilowatts.

Income source is primarily contributed by power production and sales, and main business income isderived from Guangdong Province. The company electricity sales price is subject to the benchmark priceverified by the price authority per relevant policies based on National Development and Reform Commission(NDRC) and the electricity transaction price through the market trade implementation per GuangdongElectricity Market Trade Basic Rules and supporting files. During the reporting period, The Company'selectricity sales were 53.904 billion kWh, a YOY increase of 0.84%; The average price of electricity sold in theconsolidated statement was 539.50 yuan/ Thousand KWh, a YOY decrease of 52.36 yuan/Thousand kWh, adecrease of 8.85%; The operating income was 26,078.79 million yuan, a YOY decrease of 2,262.05 millionyuan or a decrease of 7.98%.

The Company's main business is thermal power generation, the fuel costs account for a large proportion ofoperating costs, and fluctuations in coal and natural gas prices have a great impact on the Company's operatingperformance. During the reporting period, the Company's fuel cost was 16,932.16 million yuan, accounting for

75.25% of the operating cost, benefiting from the decline in fuel prices, and the fuel cost decreased by 2,861.78million yuan YOY, a decrease of 14.46%.

During the reporting period, benefiting from the completion and commissioning of new units of cleanenergy and renewable energy, the Company achieved year-on-year growth in feed-in electricity. The Companyfully grasped the favourable conditions of the current drop in fuel prices, carried out in-depth work on energyconservation and consumption reduction, strengthened the control of financing costs, improved the efficiency of

the use of funds, and effectively hedged against the adverse impact of the drop in electricity prices by adoptinga comprehensive approach.2024 The Company achieved a net profit of RMB902.94 million in the first half ofthe year, representing a year-on-year increase of RMB46.4 million. Among them, the Company's coal-firedpower business achieved a net profit attributable to the parent company of 305.8 million yuan; the net profitattributable to the parent company of the gas electricity business was 143.73 million yuan; the net profitattributable to the parent company of the hydropower business was -10.15 million yuan; the net profitattributable to the parent company of the new energy business was 198.43 million yuan; The Company'sinvestment business achieved a net profit attributable to the parent company of 211.47 million yuan。The Company shall comply with the disclosure requirements of "power supply industries" in the GuidelineNo.3 for Self-regulation of Listed Companies of Shenzhen Stock Exchange-Industry Information DisclosureAs of June 2024, the Company has a total of about 5.7785 million kilowatts of wind power, photovoltaicand other new energy installed capacity, including approximately 2.2015 million kilowatts of offshore windpower, approximately 1.1934 million kilowatts of onshore wind power, and approximately 2.3835 millionkilowatts of photovoltaic power generation. In the first half of 2024, the Company added 834,500 kilowatts ofnew energy installed capacity, including 600,000 kilowatts of wind power and 234,500 kilowatts ofphotovoltaic power, which mainly were the projects of the Qingzhou Erhai Wind Power Project and the TaishanSanhe Agricultural Photovoltaic Complementary Power Generation Project-that have been fully connected tothe grid and put into operation; The Xinjiang Shache photovoltaic project under construction has a totalinstalled capacity of 3.25 million kilowatts; the projects with a capacity of 2.335 million kilowatts have beencompleted through decision-making of construction and signing of acquisition agreement; and the scale of newenergy projects approved by the Company for filing and for which the target has been obtained is approximately

6.204 million kilowatts. In the future, the Company will continue to actively grasp the development trend ofaccelerating energy transformation under the goals of "carbon peak" and "carbon neutrality", implement the"1310" deployment of the Guangdong Provincial Party Committee, actively expand new energy projectresources through self-construction and acquisition, and make every effort to promote the leapfrog developmentof new energy and build an ecological civilization power generation enterprise.II.Analysis On core Competitiveness

1. The largest listed company of power in Guangdong

The Company's main power generation assets are located in Guangdong Province, with a total asset size ofmore than 164.6 billion yuan，It is the largest listed company with state-owned assets in Guangdong Province.As of June 30, 2024, the Company, as the largest listed power company in Guangdong Province, It has a total of

31.6825 million kilowatts of unified dispatch units in the province, accounting for 16.43% of the installedcapacity of Guangdong Province.

2. Strong background and resource advantages

Guangdong Energy Group, the controlling shareholder of the company, as a provincial key energy enterprise,has been actively supporting listed companies to become better and stronger by using the advantages of itsresources, technology and asset scale. As the only listed company and main force of Guangdong Energy Group,the company has always been subordinated to serving the overall situation of the reform and development ofGuangdong Province and Guangdong Yudean Group. It has deeply cultivated the main power industry, activelyplayed the value discovery function and resource allocation function of the capital market, and assisted the reformand development of Guangdong Province's energy resources.

3. Comprehensive advantages of main business

During the "14th Five-Year Plan" period, Guided by the national energy development strategy, the Company

is implementing the "1+2+3+X" strategy - to build a first-class green and low-carbon power listed company,coordinate safety and development, optimize and strengthen coal, gas and biomass power generation services, andvigorously develop new energy, energy storage, hydrogen energy and land park development. The Company hasabundant project reserves and broad development prospects; With clear main business, reasonable structure,outstanding industrial position and market share, it has strong comprehensive strength and broad developmentprospects.

4. Competitive advantage in electricity market

The company's generator set has high parameters, large capacity, high operation efficiency, low coalconsumption, stable operation, superior environmental protection performance and strong market competitiveadvantage. In the first half of 2024, the company completed a total of 50.828 billion kilowatt-hours of electricityin the market, and the scale of electricity sales continued to rank first in the province, with electricity sales pricessuperior to the province's average. The company gives full play to its three advantages of scale, brand and service.With its marketing service network all over the province and its technical accumulation and comprehensiveresources in the power industry, the company provides auxiliary value-added services such as peak regulation,frequency modulation and backup for the power grid, and provides high-quality value-added services such ascomprehensive energy saving and power consumption consultation for users, thus realizing the transformationfrom a power generation enterprise to an energy comprehensive service enterprise.

5. Advantage of financial resources

The Company's total assets exceeded 100 billion yuan. and the cash flow of its stock business is abundant,which provides a good support for the Company's sustainable development. The Company is in good financialcondition, with smooth financing channels such as bank credit, bonds and securities markets and diversifiedfinancing methods. The Company will make full use of internal and external financial resources to providestrong financial guarantee for the enterprise production and operation, key project construction and rapiddevelopment of new energy industries.

6. Regional development advantages

As the main energy source in Guangdong Province, the company shoulders the important task of helpingGuangdong Province to build a clean, low-carbon, safe and efficient modern energy system. The company willactively integrate into the construction of Guangdong-Hong Kong-Macao Greater Bay Area, Shenzhen's advanceddemonstration zone and the development of Guangdong's "one core, one belt and one area". It will steadily pushforward the construction of key energy projects and the development of new energy resources in the province andactively seek to expand into regions with better resource conditions and higher power demand, Help the "30·60"target to be implemented.III.Main business analysis

Found more in "I. Main businesses of the Company in the reporting period"

Changes in the financial data

In RMB

This report periodSame period last yearYOY change（%）Cause change
Operating income26,078,790,97128,340,840,884-7.98%
Operating cost22,607,604,72925,157,909,557-10.14%
Sale expenses43,812,40635,592,37723.09%
Administrative expenses612,823,789553,789,31010.66%
Financial expenses1,136,016,2601,146,457,140-0.91%
Income tax expenses443,445,689365,380,56221.37%
R & D Investment323,176,647466,613,651-30.74%Mainly due to the decrease in fuel costs for research and development in the first half of the year and the impact on the implementation progress of research and development projects
Cash flow generated by business operation, net6,006,225,0712,720,370,016120.79%Benefiting from the increase in on-grid electricity and the decrease in fuel prices, the net cash flow generated by operating activities increased year-on-year
Net cash flow generated by investment-5,579,362,986-9,765,108,91842.86%Due to the completion and commissioning of some projects, the cash paid by the Company for the purchase and construction of fixed assets, intangible assets and other long-term assets decreased YOY.
Net cash flow generated by financing-367,933,2217,005,872,760-105.25%Due to the continuous improvement of operating activities and the decrease in the expenditure of investment funds for project construction, the cash received by the Company from borrowings in the current period decreased significantly YOY.
Net increasing of cash and cash equivalents58,849,676-38,865,772251.42%Affected by above three reasons..

Major changes to the profit structure or sources of the Company in the reporting period

□ Applicable √Not applicable

The profit composition or sources of the Company have remained largely unchanged during the report period.Component of Business Income

In RMB

This report periodSame period last yearIncrease /decrease
AmountProportionAmountProportion
Total operating revenue26,078,790,971100%28,340,840,884100%-7.98%
On Industry
Electric power , Steam sales and labor income25,944,529,40499.49%28,177,515,35399.42%-7.92%
Other134,261,5670.51%163,325,5310.58%-17.80%
On products
Sales Electric Power25,734,992,70398.69%28,015,854,47898.85%-8.14%
Flyash sales71,679,6560.27%141,968,5900.50%-49.51%
Thermal sales158,977,0010.61%121,708,8670.43%30.62%
Other113,141,6110.43%61,308,9490.22%84.54%
Area
Guangdong25,222,008,96996.72%27,672,103,61197.64%-8.85%
Xinjiang592,499,8602.27%470,376,4371.66%25.96%
Hunan49,432,6320.19%73,335,8850.26%-32.59%
Hebei43,562,6060.17%46,668,6010.16%-6.66%
Guangxi55,975,9910.21%29,169,8380.10%91.90%
Yunnan30,094,2720.12%21,621,6610.08%39.19%
Henan18,907,2530.07%19,388,2940.07%-2.48%
Shandong15,532,1300.06%8,176,5570.03%89.96%
Inner mongolia21,887,8140.08%00%0%
Gansu8,053,2270.03%00%0%
Anhui20,836,2170.08%00%0%

(2)Situation of Industry, Product and District Occupying the Company’s Business Income and Operating Profitwith Profit over 10%

√ Applicable □Not applicable

In RMB

TurnoverOperation costGross profit rate(%)Increase/decrease of revenue in the same period of the previousIncrease/decrease of business cost over the same period ofIncrease/decrease of gross profit rate over the same period
year(%)previous year (%)of the previous year (%)
On Industry
Electric power , Steam sales and labor income25,944,529,40422,502,230,24713.27%-7.92%-10.52%2.51%
On Product
Sales Electric Power25,734,992,70322,358,121,71613.12%-8.14%-10.45%2.24%
Including：Fire coal Generation Power17,294,109,90015,404,291,65810.93%-17.01%-19.91%3.23%
Gas Generation Power6,404,268,3655,845,369,2678.73%18.50%23.28%-3.54%
Biomass Generation Power2,036,614,4381,108,460,79145.57%14.83%11.80%1.47%
Area
Guangdong25,222,008,96921,889,282,78213.21%-8.85%-11.09%2.18%

Under circumstances of adjustment in reporting period for statistic scope of main business data, adjusted mainbusiness based on latest on year’s scope of period-end.

□ Applicable √Not applicable

IV. Analysis of Non-core Business

□ Applicable √Not applicable

V. Analysis of assets and liabilities

1.Significant changes in asset composition

In RMB

End of Reporting periodEnd of same period of last yearChange in percentage(%)Reason for significant change
AmountAs a percentage of total assets(%)AmountAs a percentage of total assets(%)
Monetary fund16,111,494,7569.79%16,431,429,89310.19%-0.40%
Accounts receivable8,132,965,8504.94%8,963,635,6785.56%-0.62%
Contract assets10,410,1790.01%5,557,7200%0.01%
Inventories4,306,381,0502.62%2,655,504,7111.65%0.97%
Real estate Investment342,839,3690.21%347,192,7590.22%-0.01%
Long-term equity investment10,177,923,4456.18%9,796,842,1976.08%0.10%
Fixed assets68,724,837,77641.76%63,017,322,29139.09%2.67%
Construction in process26,153,498,93015.89%29,990,577,67818.60%-2.71%
Usage right assets9,392,971,2065.71%9,529,610,4125.91%-0.20%
Short -term loans17,020,331,81810.34%15,756,979,7629.77%0.57%
Contract liabilities42,133,5560.03%41,328,1330.03%0%
Long-term loans67,237,211,20940.86%62,832,471,34038.98%1.88%
Lease liabilities10,546,756,6116.41%10,452,666,1286.48%-0.07%

2.Main assets overseas

□ Applicable √Not applicable

3.Asset and Liabilities Measured by Fair Value

√ Applicable □Not applicable

In RMB

ItemsOpening amountGain/Loss on fair value change in the reporting periodCumulative fair value change recorded into equityImpairment provisions in the reporting periodPurchased amount in the reporting periodSold amount in the reporting periodOther changesEnd of term
Financial assets
Other equity instrument investments2,866,347,046-431,139,1381,493,045,2922,435,207,908
Subtotal2,866,347,046-431,139,1381,493,045,2922,435,207,908
Total2,866,347,046-431,139,1381,493,045,2922,435,207,908
Financial Liability001,493,045,2920

Other changeDid great change take place in measurement of the principal assets in the reporting period ?

□ Yes √ No

4. Restricted asset rights as of the end of this Reporting Period

On June 30, 2024, individual subsidiaries of the Group pledged the right to impose electricity charges tobanks to obtain long-term loans of 5,015,180,259 yuan which: the balance of long-term loans due within one yearwas 229,859,949 yuan (as of December 31, 2023: 5,401,654,578 yuan). including: the long-term borrowings duewithin one year amounted to 500,737,245 yuan .

VI. Investment situation

1. General

√ Applicable □ Not applicable

Investment of the periodInvestment of same period of last yearScale of change
825,091,5321,683,063,129-50.98%

2.Condition of Acquiring Significant Share Right Investment during the Report Period

√Applicable □ Not applicable

In RMB

Name of the Company InvestedMain BusinessInvestment WayInvestment AmountShare Proportion %Capital SourcePartnerInvestment HorizonProduct TypeProgress up to Balance Sheet DateAnticipated IncomeGain or Less or the Current InvestmentWhether to Involve in LawsuitDate of Disclosure(if any)Disclosure Index(if any)
Yuedan Shache Comprehensive Energy Co., Ltd.Photovoltaic GenerationCapital increase21,000,000100%Self fundsNoLong-termElectric PowerShache light storage integration project is in normal progress24,141,281NoDecember 1,2022Announcement No.:2022-60,. Published in China Securities Daily, Securities Times , Shanghai Securities News, Securities Daily and
http//.www.cninfo.com.cn
Tumushuke Yudean Hanhai New Energy Co., Ltd.Photovoltaic GenerationCapital increase140,000,000100%Self fundsNoLong-termElectric PowerThe Hanhai Photovoltaic Project and the Third Division 45th Regiment Photovoltaic Integration Project are progressing normally-3,968,810NoMarch 26,2022Announcement No.:2022-11,. Published in China Securities Daily, Securities Times , Shanghai Securities News, Securities Daily and http//.www.cninfo.com.cn
Laixi Xinguangyao New Energy Technology Co., Ltd.Photovoltaic GenerationCapital increase13,134,60099%Self fundsLaixi Liante New Energy Technology Co., Ltd.（Share proportion:1%）Long-termElectric PowerQingdao Jiulian Project is normal progress2,326,889NoNot applicable
Guangdong YudeanPhotovoltaicCapital increase30,830,000100%Self fundsN/ALong-termElectric PowerHuzhen Photovolta-366,953NoNot applicable
Huibo New Energy Co., Ltd.Generationic Generation Project is normal progress
Guangdong Yudean Dananhai Intelligence Energy Co., Ltd.Thermal powerCapital increase80,000,000100%Self fundsNoLong-termElectric PowerDananhai Intelligence Energy Project is normal progress-7,629,467NoApril 22,2022Announcement No.:2022-16,. Published in China Securities Daily, Securities Times , Shanghai Securities News, Securities Daily and http//.www.cninfo.com.cn
Guangdong Yudean Yongan Natural Gas Thermal power Co., Ltd.Thermal powerCapital increase45,000,00090%Self FundsZhaoqing Hejiang Electric Power Development Co., ltd. （Share ProportionLong-termElectric PowerIn normal operation-46,015,778NoOctober 13,2020Announcement No.:2020-52,. Published in China Securities Daily, Securities Times and http//.www.cni
：10%）nfo.com.cn
Guangdong Yudean Yunhe Power General Co., Ltd.Thermal powerCapital increase47,080,00090%Self FundsYunfu Yunda Investment Holdings Co., Ltd.（ Share Proportion：10%）Long-termElectric PowerIn normal operation-7,463,179NoApril 22,2022Announcement No.:2022-16,. Published in China Securities Daily, Securities Times and http//.www.cninfo.com.cn
Guangdong Yudean Binhaiwan Energy Co., Ltd.Thermal powerCapital increase100,000,000100%Self FundsNoLong-termElectric PowerIn normal operation-4,162,481NoApril 11,2020Announcement No.:2020-13,. Published in China Securities Daily, Securities Times and http//.www.cninfo.com.cn
Guangdong Yudean Dayawan Integrated Energy Co., Ltd.Thermal powerCapital increase88,046,932.3370%Self FundHuizhou Port Investment Group Co., Ltd.（ Share Proportion：20%）,Long-termElectric PowerIn normal operation-10,988,053NoJuly 17,2021Announcement No.:2021-43,. Published in China Securities Daily, Securities Times and
Huizhou Port Investment Group Co., Ltd.（ Share Proportion：10%）http//.www.cninfo.com.cn
Guangdong Yudean Qiming Energy Co., Ltd.Thermal powerCapital increase10,000,000100%Self FundsNoLong-termElectric PowerIn normal operation-6,281,926NoNot applicable
Guangdong Electric Industry Fuel Co., Ltd.Fuel salesCapital increase50,000,00050%Self FundsGuangdong Energy Group Co., Ltd. （ Share Proportion：50%）Long-termPower generation fuelIn normal operation46,479,816NoApril 30,2024Announcement No.:2024-28,. Published in China Securities Daily, Securities Times and http//.www.cninfo.com.cn
Guangdong Energy Group Xingjiang Co., Ltd.New Energy GenerationNew establishment200,000,000100%Self fundsNoLong-termElectric PowerIn normal operation-18,921,661NoDecember 1,2022Announcement No.:2022-60,. Published in China Securities Daily,

SecuritiesTimes ,ShanghaiSecuritiesNews,SecuritiesDaily andhttp//.www.cninfo.com.cn AnnouncementNo.:2022-60,.Published inChinaSecuritiesDaily,SecuritiesTimes andhttp//.www.cninfo.com.cn

Total----825,091,532------------0-32,850,322------

3.Situation of the Significant Non-equity Investment Undergoing in the Report Period

□ Applicable √ Not applicable

4.Investment of Financial Asset

（1）Securities investment

√ Applicable □ Not applicable

In RMB

Security categorySecurity codeStock Abbreviation:Initial investment costMode of accounting measurementBook value balance at the beginning of the reporting periodChanges in fair value of the this periodCumulative fair value changes in equityPurchase amount in the this periodSale amount in the this periodGain/loss of the reporting periodBook value balance at the end of the reporting periodAccounting itemsSource of the shares
Domestic and foreign stocksHK6963Sunshine insurance356,000,000FVM1,379,000,002-570,821,860452,178,142000808,178,142Other equity instrument InvestmentSelf funds
Domestic and foreign stocks600642Shenergy235,837,988FVM356,517,044133,832,722254,511,778000490,349,766Other equity instrument InvestmentSelf funds
Domestic and foreign stocks000027Shenzhen Energy15,890,628FVM97,524,00012,852,00094,485,372000110,376,000Other equity instrument InvestmentSelf funds
Domestic and foreign stocks831039NEEQ3,600,000FVM16,506,000-7,002,0005,904,0000009,504,000Other equity instrument InvestmentSelf funds
Other securities investments held at the end of the period0--0000000----
Total611,328,616--1,849,547,046-431,139,138807,079,2920001,418,407,908----
Disclosure date for the notice of approval by the Board (If any)

（2）Investment in Derivatives

□ Applicable √ Not applicable

The Company had no investment in derivatives in the reporting period.

5.Application of the raised capital

□ Applicable √ Not applicable

The Company had no application of the raised capital in the reporting period.

VII. Sales of major assets and equity

1.Situation of Significant Asset Sale

□ Applicable √ Not applicable

2.Sales of major equity

□ Applicable √ Not applicable

VIII.Analysis of the Main Share Holding Companies and Share Participating Companies

√ Applicable □ Not applicable

Situation of Main Subsidiaries and the Joint-stock Company with over 10% net profit influencing to theCompany

In RMB

Company NameCompany typeSectors engaged inRegistered capitalTotal assetsNet assetsTurnoverOperating profitNet Profit
Guangdong Wind Power Generation Co., Ltd.SubsidiaryPower generation and power station construction.9,700,881,36457,424,355,97316,405,577,7781,683,513,925395,051,248318,149,169
Huizhou Natural Gas CompanySubsidiaryPower generation and power station construction.1,499,347,5003,135,100,6112,166,823,0461,852,297,784262,188,204196,132,247
Pinghai Power Generation CompanySubsidiaryPower generation and power station construction.1,370,000,0003,817,953,1232,250,657,5061,810,201,016181,917,096134,952,787
Shenzhen Guangqian Electric Power Co., Ltd.SubsidiaryPower generation and power station construction.1,030,292,5002,107,913,5451,863,297,235759,229,110172,325,608132,511,410
Guangdong YudeanSubsidiaryPower generation2,919,272,0009,051,892,7133,207,127,3692,957,829,113300,732,021217,139,250
Jinghai Power Generation Co., Ltd.and power station construction.
Red Bay Power Generation CompanySubsidiaryPower generation and power station construction.2,749,750,0006,416,334,3642,960,338,1412,360,735,992237,216,574155,446,980
Bohe Energy CompanySubsidiaryPower generation and power station construction.3,118,000,0009,978,233,7612,202,457,0621,724,373,686226,150,628166,992,706
Shanxi Yudean Energy Co., Ltd.Sharing CompanyMining and power generation1,620,749,00012,118,196,2629,384,716,457155,633,534529,530,656523,868,842

Acquirement and disposal of subsidiaries in the Reporting period

√ Applicable □ Not applicable

Company nameWay of acquiring and disposing of subsidiary corporations within the reporting periodImpact on the whole producing operation and performance
Yuncheng Wanquan Yuefeng New Energy Co., Ltd.Asset acquisitionDuring the reporting period, the Yuncheng Wanquan Yuefeng New Energy Project is in the preliminary work stage, has started construction, and is expected to be put into operation within this year, with no significant impact on the Company's overall production, operation and performance.
Guangneng Toxon New Energy Generation Co., Ltd.InvestedDuring the reporting period, the Guangneng Toksunnew energy project is in the preliminary work stage, has started construction, and is expected to put into operation 500,000 kilowatts of installed capacity within this year, which has no significant impact on the Company's overall production, operation and performance.
Lingao Yehai Yuefeng New EnergyInvestedDuring the reporting period, the Lingao
Co., Ltd.County Yehai Yuefeng New Energy Project is in the early stage of work and has not yet started construction, which has no significant impact on the Company's overall production, operation and performance.

Note

1.During the reporting period, the Company's coal unit price decreased, and the profitability of thermal powerbusiness was further enhanced.

2. One of the sources of income of Shanxi Energy Company, a joint venture company, is the investment incomeof the coal mines, due to the decline in coal price, the net profit of Shanxi Energy Company declined YOY, andthe Company's investment income in Shanxi Energy decreased by 47.47 million yuan YOY, a decrease of

18.51%.

IX．Structured vehicle controlled by the Company

□ Applicable √ Not applicable

X. Risks facing the Company and countermeasures

1. Work safety risk

The "three-protection" situation is severe. It is estimated that 4-5 typhoons will land in the post-floodseason or seriously affect our province. The typhoons are overall intense, accompanied by more rainfall inthe early stage. As the soil water content in some mountainous areas is highly saturated, the safety risk ofgeological disasters is further increased; During the peak summer, the continuous operation of the unit underhigh load, combined with the unstable safety and supply as well as coal quality, reduces the reliability of thegenerator set, which is prone to installation safety hazards; The outsourcing and leasing safety managementneeds to be further strengthened, and some contractors and tenants lack safety awareness, with increasinglyprominent problems such as improper operation of their own safety management system; There are a largenumber of capital construction workers with uneven ability levels, causing phenomenal construction risks.

Countermeasures: First, pay close attention to the rain and flood, thoroughly investigate and rectifythe hidden dangers of geological disasters, and well ensure flood control and typhoon prevention; Second,strengthen equipment maintenance and operation management, earnestly carry out maintenance, operationmanagement and technical supervision, improve the equipment management system, well ensure theelimination of equipment defects and improve the reliability of unit equipment; Third, strengthen the "threeexternal management", ensure the "access", resolutely put an end to illegal contracting and illegalsubcontracting, define respective management responsibilities, urge contractors and tenants to effectivelyoperate their own safety management systems and fully perform their duties, strengthen safety education andtraining, and continuously improve the safety management of contractors and tenants. Fourthly, ensure thesafety of engineering construction, resolutely prevent and curb personal accidents, and firmly uphold thebasic principles of work safety.

2. Increasingly fierce competition in the electricity market

In the context of the increasing proportion of electricity traded in the market, Guangdong ProvincialDevelopment and Reform Commission issued the Notice on Relevant Matters of Coal-fired Power and Gas-fired Power Capacity Tariff Mechanism in Guangdong Province, stating that while implementing thenational coal-fired power capacity tariff mechanism, Guangdong Province will simultaneously implementthe gas-fired power capacity tariff mechanism with reference to the coal-fired power capacity tariffmechanism and combined with its own reality. The introduction of capacity tariff in Guangdong provincewill affect the market behavior of competitors, and the spot market quotation strategy will be more radical,causing the continuous decline in tariff. Considering the policy expectation of gradually increasing therecovery ratio of coal-fired power unit cost, the intertemporal behavior adjustment of the unit will be morecomplicated. In the meantime, with the continuously intensified cross-regional diversified competition, thesurge in the number of market players, the expansion of the floating range of thermal power prices, thecontinuous growth of market transaction scale and the diversification of transaction methods since the powerreform, it will not only create a broader market space for the Company, but also further increase in thecompetition intensity among power enterprises.Countermeasures: First, spare no effort to expand the market. Strengthen the power generation processmanagement, optimize the operation mode of the units, ensure the implementation of various types ofelectricity contracts for thermal power units, and ensure that new energy units can generate more electricityat full capacity, striving to achieve the Company's annual electricity target. Second, strengthen the analysisand judgment of the electricity market, dynamically optimize market competition strategies, continuouslyimprove and strengthen the construction of the electricity marketing system, strive for the tariff of electricitytraded in the market above the market average level, further improve the collaborative operation mechanismof the electricity spot market, and scientifically formulate the trading strategies. Third, focus on cost control.Strengthen the idea of leading an austere life, strictly control general management expenses and nonproduction expenses, strive to control power generation and operating costs, and improve the Company'smarket competitiveness.

3. Risk of power structure adjustment

Under the background of carbon peaking and carbon neutrality, as well as the "30?60" goal, energyproduction and consumption are accelerating towards low carbon transformation. According to China'srequirements of optimizing the energy structure, thermal power will gradually change from the main powersupply to the basic power supply of peak shaving and frequency modulation, and the installed capacity andpower growth of new energy such as wind power and photovoltaic power will further squeeze the livingspace of coal-fired power units. By the end of June 2024, the holding installed capacity of the Company'scoal-fired power accounted for 55.11%, which was high, with greater transformation pressure of clean andlow-carbon power supply.

Countermeasures: The first is to steadily promote the transformation and upgrading of the powersupply structure, strive to achieve greater breakthroughs in structural adjustment, accelerate the progress ofkey energy projects, and solidly promote the Xinjiang Shache photovoltaic project, Qingdao Jiuliandistributed photovoltaic power generation project and Yunfu natural gas cogeneration project, etc., to ensurethat the project investment and construction plan are completed on schedule. The second is to continue toenrich the reserve of new energy projects, actively explore the development space of new energy in otherprovinces and regions in China, and increase the development of new energy in Xinjiang, Hebei, Guangxiand other regions. The third is to deeply explore the development and utilization of distributed energy for

cold, heat, electricity and gas cogeneration, as well as infrastructure construction such as battery swapping,charging piles and energy storage. Fourth, we will continue to optimize the management of carbon assets,make full use of internal and external resources, strengthen the management of carbon emission data and theoperation and management of carbon assets, promote energy conservation and carbon reduction, and realizethe value-added and income of carbon assets.XI. The implementation of the action plan of "Double improvement of quality and return".Whether the Company has disclosed the action plan of "Double improvement of quality and return".?Yes □No

The Company conscientiously implements the guiding ideology of "activating the capital market andboosting investor confidence" proposed by the Political Bureau of the Central Committee and the executivemeeting of the State Council "to vigorously improve the quality and investment value of listed companies, takemore strong and effective measures, and focus on stabilizing the market and confidence", and combined withthe Company's development strategy, operating situation, and financial situation, it has formulated the "dualimprovement of quality and return" action plan. For details, please refer to the "Announcement on the ActionPlan for "Double Improvement of Quality and Return" published by the Company on August 28,2024(Announcement No.:2024-45)The main contents of the plan, the specific measures for the implementation of the plan and the results areas follows:

1. Focus on the main responsibilities and main businesses, and build a first-class green and low-carbonpower listed company. Since its establishment, the Company has always adhered to the business tenet of"taking capital from the people, using capital in electricity, and benefiting the public" and the business policyof "running electricity-based, diversified development", focusing on the main business of electric power, andthe power supply structure is diversified, with large-scale coal-fired power generation, natural gas powergeneration, biomass power generation, wind power generation, solar power generation and hydropowergeneration and other energy projects, providing reliable and clean energy to users through the power gridcompany. As of June 30, 2024, the Company has a controllable installed capacity of 38.4511 million kilowatts,including 19.89 million kilowatts of coal-fired power generation, 10.191 million kilowatts of gas-fired power,5,778,500 kilowatts of wind power, photovoltaic and other new energy sources, and the total controllableinstalled capacity and entrusted managed installed capacity is 46.9931 million kilowatts , making it the largestlisted power company in Guangdong Province.

2. Strengthen the leadership of science and technology, actively cultivate and develop new qualityproductivity, actively implement the strategy of scientific and technological innovation, and orderly build adeep integration system of "production, education, research and application". Since 2023, the Company hasadded 1 provincial-level recognized R&D platform, 3 municipal-level recognized R&D platforms, andundertaken 1 national key R&D project and 3 provincial key R&D projects; In 2024, 25 new national industryR&D achievements are declared, 41 utility model patents and 10 invention patents are newly authorized.

3. Pay attention to shareholder returns, stabilize dividends and share the fruits of business development.The Company attaches great importance to the protection of investors' rights and interests, and adheres to theprinciple of "If there is profit, dividends must be distributed". In addition to the phased losses in 2021-2022 tofulfill the responsibility of power and energy security, we have always insisted on paying dividends to

shareholders. Since its listing in 1993, the average annual profit dividend ratio has exceeded 50%, and a total of

13.166 billion yuan has been distributed to shareholders, which is 4.77 times of the raised funds, which fullyreflects the Company's good business performance and sincere returns to investors.

4. Standardize information disclosure and strengthen investor relations management. In strict accordancewith "The Company Law", "Measures for the Administration of Information Disclosure of Listed Companies"and other laws and regulations, the Company follows the principle of "truthfulness, accuracy, completeness,timeliness and fairness", fulfills its information disclosure obligations in accordance with the law, and itsinformation disclosure has been assessed by the Shenzhen Stock Exchange as "A" for ten consecutive years.The Company will continue to enhance transparency and investor demand, and enhance the pertinence andeffectiveness of information disclosure through voluntary release of quarterly power generation completioninformation disclosure announcements. Meanwhile, the Company will continue to strengthen the managementof investor relations, and establish a multi-channel and multi-level investor communication system throughinvestor on-site research, investor hotline, e-mail, Shenzhen Stock Exchange's "interactive easy" platform,performance briefing, etc., so as to increase investors' understanding especially small investors’understanding of the Company's production and operation, build a benign and interactive investor relationship,and give investors a real, transparent and compliant Guangdong Electric Power.

IV. Corporate GovernanceI. Annual General Meeting and Provisional Shareholders’ Meetings in the Reporting Period

1.Annual General Meeting

MeetingTypeInvestor participation ratioConvened dateDisclosure dateIndex to disclosed information
First Provisional Shareholders’ general meeting of 2024Provisional Shareholders’ general meeting72.57%January 5,2024January 6,2024Announcement No.:2024-01). Published in China Securities Daily, Securities Times , Shanghai Securities News, Securities Daily and http//.www.cninfo.com.cn
Second Provisional Shareholders’ general meeting of 2024Provisional Shareholders’ general meeting72.58%January 19,2024January 20,2024Announcement No.:2024-02). Published in China Securities Daily, Securities Times , Shanghai Securities News, Securities Daily and http//.www.cninfo.com.cn
2023 Shareholders’ general meetingAnnual Shareholders’ General Meeting72.64%April 26,2024April 27,2024Announcement No.:2024-27). Published in China Securities Daily, Securities Times , Shanghai Securities News, Securities Daily and http//.www.cninfo.com.cn
Third Provisional Shareholders’ general meeting of 2024Provisional Shareholders’ general meeting72.54%May 22,2024May 23,2024Announcement No.:2024-35). Published in China Securities Daily, Securities Times , Shanghai Securities News, Securities Daily and http//.www.cninfo.com.cn

2. Preferred stockholders restored voting rights to request to convene Provisional Shareholders’Meeting

□Applicable √ Not applicable

II. Changes in directors, supervisors and senior management staffs

√ Applicable □Not applicable

NamePositionsTypesDateReason
Liang ChaoVice ChairmanElectedJanuary 19,2024
Zhao ZengliIndependent directorElectedApril 26,2024
Yang HaiChairman of the Supervisory CommitteeElectedApril 26,2024
Xu AngEmployee supervisorElectedFebruary 23,2024
Ma XiaoqianIndependent supervisorElectedApril 26,2024
Ma XiaoqianIndependent directorDimissionApril 26,2024He will resign at the expiration of his term of office.
Zhou ZhijianChairman of the Supervisory CommitteeDimissionApril 26,2024Job changes
Li RuimingEmployee supervisorDimissionFebruary 23,2024Retire

III. Pre-plan for profit allocation and turning capital reserve into share capital for the reporting period

□ Applicable √ Not applicable

The Company planned not to distribute cash dividend and bonus share, and not to convert capital reserves intoshare capital in half year.IV. Implementation of the company’s stock incentive plan, employee stock ownership plan or otheremployee incentives

□Applicable √ Not applicable

The Company has no implementation of the company’s stock incentive plan, employee stock ownership plan orother employee incentives in the period.

V. Environmental & Social Responsibility

I. Significant environmental issuesWhether the Company or any of its subsidiaries is identified as a key polluter by the environmentauthorities

√ Yes □ No

Environmental protection related policies and industry standardsThe Company and its subordinate units strictly abide by the "Environmental Protection Law of thePeople's Republic of China", "Atmospheric Pollution Prevention and Control Law of the People's Republic ofChina", "Water Pollution Prevention and Control Law of the People's Republic of China", "Law of the People'sRepublic of China on the Prevention and Control of Environmental Pollution of Solid Waste", "Air PollutantEmission Standards for Thermal Power Plants" (GB13223), "Comprehensive Sewage Discharge Standards"(GB8978) and other relevant laws, regulations and industry standards to carry out production and businessactivities.Environmental protection administrative licensing

The Company and its subsidiaries all have obtained environmental protection administrative permits inaccordance with regulations, and the pollution discharge permits are currently within the validity period.Industrial emission standards and the specific situation of the pollutant emission involved in theproduction and business activities

Company or subsidiary nameMain pollutant and specific pollutant typeMain pollutant and specific pollutant nameEmission wayEmission port numberEmission port distribution conditionEmission concentrationImplemented pollutant emission standardsTotal emissionVerified total emissionExcessive emission condition
Bohe CompanyAir pollutantSmokeConcentrated emission through chimney2Within the factory1.51Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)19.2871.5N/A
BoheAirSO2Concentrated2Within12.60Emission160.81973.5N/A
Companypollutantemission through chimneythe factoryStandard of Air Pollutants for Thermal Power Plants (GB13223-2011)
Bohe CompanyAir pollutantNOXConcentrated emission through chimney2Within the factory34.07Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)434.791122.1N/A
Dapu Power PlantAir pollutantSmokeConcentrated emission through chimney2Within the factory4.55Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)38.32593N/A
Dapu Power PlantAir pollutantSO2Concentrated emission through chimney2Within the factory8.59Emission Standard of Air Pollutants for Thermal Power Plants72.131447N/A
(GB13223-2011)
Dapu Power PlantAir pollutantNOXConcentrated emission through chimney2Within the factory41.54Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)349.721502N/A
Red Bay CompanyAir pollutantSmokeConcentrated emission through chimney4Within the factory2.89Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)58.47422.04N/A
Red Bay CompanyAir pollutantSO2Concentrated emission through chimney4Within the factory7.23Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)146.061477.2N/A
Red Bay CompanyAir pollutantNOXConcentrated emission4Within the facto27.80Emission Standard of Air561.552111.58N/A
through chimneyryPollutants for Thermal Power Plants (GB13223-2011)
Jinghai CompanyAir pollutantSmokeConcentrated emission through chimney4Within the factory2.48Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)70.27341.2N/A
Jinghai CompanyAir pollutantSO2Concentrated emission through chimney4Within the factory16.58Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)468.541728.4N/A
Jinghai CompanyAir pollutantNOXConcentrated emission through chimney4Within the factory35.75Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-1010.362470N/A
2011)
Maoming Power PlantAir pollutantSmokeConcentrated emission through chimney2Within the factory0.79Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)7.77168.12N/A
Maoming Power PlantAir pollutantSO2Concentrated emission through chimney2Within the factory15.96Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)156.50385.51N/A
Maoming Power PlantAir pollutantNOXConcentrated emission through chimney2Within the factory29.14Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)285.76751.82N/A
Pinghai Power PlantAir pollutantSmokeConcentrated emission through chimne2Within the factory2.10Emission Standard of Air Pollutants for28.15346N/A
yThermal Power Plants (GB13223-2011)
Pinghai Power PlantAir pollutantSO2Concentrated emission through chimney2Within the factory23.31Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)312.661670N/A
Pinghai Power PlantAir pollutantNOXConcentrated emission through chimney2Within the factory38.06Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)510.411731N/A
Shaoguan Power Generation PlantAir pollutantSmokeConcentrated emission through chimney2Within the factory1.45Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)15.88717.78N/A
ShaoguanAirSO2Concent2With23.17Emissio253.802303.55N/A
Power Generation Plantpollutantrated emission through chimneyin the factoryn Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)
Shaoguan Power Generation PlantAir pollutantNOXConcentrated emission through chimney2Within the factory39.24Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)429.862254.42N/A
Yunhe Power Generation PlantAir pollutantSmokeConcentrated emission through chimney1Within the factory2.34Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)14.94360N/A
Yudean Yunhe Power Generation PlantAir pollutantSO2Concentrated emission through chimney1Within the factory6.75Emission Standard of Air Pollutants for Thermal Power43.082400N/A
Plants (GB13223-2011)
Yunhe Power Generation PlantAir pollutantNOXConcentrated emission through chimney1Within the factory36.05Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)229.852400N/A
Zhanjiang ElectricAir pollutantSmokeConcentrated emission through chimney2Within the factory1.16Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)15.42528N/A
Zhanjiang ElectricAir pollutantSO2Concentrated emission through chimney2Within the factory17.91Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)236.471320N/A
Zhanjiang ElectricAir pollutantNOXConcentrated emissio2Within the39.81Emission Standard525.431990.7N/A
n through chimneyfactoryof Air Pollutants for Thermal Power Plants (GB13223-2011)
Zhanjiang ZhongyueAir pollutantSmokeConcentrated emission through chimney2Within the factory1.66Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)21.98480N/A
Zhanjiang Zhongyue.Air pollutantSO2Concentrated emission through chimney2Within the factory14.93Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)197.381200N/A
Zhanjiang ZhongyueAir pollutantNOXConcentrated emission through chimney2Within the factory26.47Emission Standard of Air Pollutants for Thermal Power Plants (GB132349.951290.08N/A
23-2011)
Guangqian CompanyAir pollutantNOXConcentrated emission through chimney3Within the factory10.56Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)80.551312.5N/A
Huizhou Natural GasAir pollutantSmokeConcentrated emission through chimney6Within the factory0.26Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)4.60242.61N/A
Huizhou Natural GasAir pollutantNOXConcentrated emission through chimney6Within the factory21.45Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)369.781774.98N/A
Yuehua Power GenerationAir pollutantSO2Concentrated emission through2Within the factory0.39Emission Standard of Air Pollutan2.9827.54N/A
chimneyts for Thermal Power Plants (GB13223-2011)
Yuehua Power GenerationAir pollutantNOXConcentrated emission through chimney2Within the factory41.82Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)318.181367.55N/A
Xinhui Power GenerationAir pollutantSmokeConcentrated emission through chimney2Within the factory0.07Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)0.2285.6N/A
Xinhui Power GenerationAir pollutantSO2Concentrated emission through chimney2Within the factory0.24Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)0.9745N/A
Xinhui Power GenerationAir pollutantNOXConcentrated emission through chimney2Within the factory36.68Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)136.621104N/A
Tumushuke Thermo electricAir pollutantSmokeConcentrated emission through chimney2Within the factory1.79Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)15.62135N/A
Tumushuke Thermo electric Co., LtdAir pollutantSO2Concentrated emission through chimney2Within the factory7.49Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)65.33474N/A
Tumushuke Thermo electricAir pollutantNOXConcentrated emission through chimney2Within the factory26.31Emission Standard of Air Pollutants for Thermal229.38675N/A
Power Plants (GB13223-2011)
Shajiao CAir pollutantSmokeConcentrated emission through chimney3Within the factory2.77Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)39.68277.8N/A
Shajiao CAir pollutantSO2Concentrated emission through chimney3Within the factory17.02Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)243.79972.3N/A
Shajiao CAir pollutantNOXConcentrated emission through chimney3Within the factory31.93Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)457.371389N/A
Huadu CompanyAir pollutSmokeConcentrated3Within0.20Emission0.9092.39N/A
antemission through chimneythe factoryStandard of Air Pollutants for Thermal Power Plants (GB13223-2011)
Huadu CompanyAir pollutantSO2Concentrated emission through chimney3Within the factory0.21Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)0.946.7N/A
Huadu CompanyAir pollutantNOXConcentrated emission through chimney3Within the factory35.70Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)154.27586.6N/A
Zhanjiang Biomass Power GenerationAir pollutantSmokeConcentrated emission through chimney2Within the factory6.26Emission Standard of Air Pollutants for Thermal Power Plants11.2680.94N/A
(GB13223-2011)
Zhanjiang Biomass Power GenerationAir pollutantSO2Concentrated emission through chimney2Within the factory4.76Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)8.57183N/A
Zhanjiang Biomass Power GenerationAir pollutantNOXConcentrated emission through chimney2Within the factory58.79Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)105.69397N/A
Dayawan Power Generation CompanyAir pollutantSmokeConcentrated emission through chimney2Within the factory2.06Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)4.2880.94N/A
Dayawan Power GenerationAir pollutantSO2Concentrated emission2Within the facto0.30Emission Standard of Air0.23183N/A
Companythrough chimneyryPollutants for Thermal Power Plants (GB13223-2011)
Dayawan Power Generation CompanyAir pollutantNOXConcentrated emission through chimney2Within the factory31.42Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)66.81397N/A
Yongan CompanyAir pollutantSmokeConcentrated emission through chimney2Within the factory0.83Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)2.2836.04N/A
Yongan CompanyAir pollutantSO2Concentrated emission through chimney2Within the factory0.14Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-0.400.42N/A
2011)
Yongan CompanyAir pollutantNOXConcentrated emission through chimney2Within the factory22.01Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)60.15596.77N/A
BinhaiwanCompanyAir pollutantSmokeConcentrated emission through chimney3Within the factory0.18Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)0.12181.56N/A
BinhaiwanCompanyAir pollutantSO2Concentrated emission through chimney3Within the factory0.05Emission Standard of Air Pollutants for Thermal Power Plants (GB13223-2011)0.034.77N/A
Binhaiwan CompanyAir pollutantNOXConcentrated emission through chimne3Within the factory23.8Emission Standard of Air Pollutants for15.861785N/A
yThermal Power Plants (GB13223-2011)

Treatment of contaminantsIn the first half of 2024, the Company continued to promote the coordinated treatment regardingpollution reduction and carbon reduction, and carried out the flow path retrofit, comprehensive improvementof cold-end efficiency, utilization of flue gas waste heat, sealing of air preheater, resistance reduction of air-flue system, energy saving of fans and pumps, comprehensive optimization of pulverizing system, energy-saving and consumption-reducing transformation of high-energy-consuming motors and transformers, andcontinued to promote the transformation of urea instead of liquid ammonia and the renewal and replacementof environmental protection equipment such as denitration catalyst, oxidation fan, slurry circulating pumpand anode and cathode of dust collector to reduce the discharge of various pollutants.Emergency plan for emergency environmental incidentsCombining with the Environmental Protection Law of the People's Republic of China and the Opinions ofthe Ministry of Environmental Protection on Strengthening Environmental Emergency Management Work andother laws and regulations on the monitoring of environmental risks, the company’s subordinate powergeneration enterprises have formulated the Emergency Plan for Emergency Environmental Incidents accordingto their actual conditions, which has standardized and improved the handling of emergent environmental eventsfrom the aspects of environmental accident risk analysis, emergency command organization and responsibilities,disposal procedures, and disposal measures, improved the ability to respond to unexpected environmentalevents, and ensured that after an outbreak of an environmental incident, the company can organize emergencyrescue work in a timely, orderly and efficient manner to prevent pollution of the surrounding environment,minimize the damage and social harm caused by the incident, maintain social stability, and protect publichealth and property safety.Investment in environmental governance and protection and payment of environmental protection taxIn the first half of 2024, The company purchased desulfurization and denitration materials totaling about

117.63 million yuan,The Company paid environmental protection tax of 5.75 million yuan.Environmental self-monitoring programDuring the reporting period, the affiliated power generation enterprises of the Company disclosedenvironmental information and their supervision and management activities in accordance with therequirements of laws and regulations such as the China's Administrative Measures for Legal Disclosure ofEnterprise Environmental Information (Order No.24 of Ministry of Ecology and Environment), preparedannual environmental information disclosure reports and uploaded them to the enterprise environmentalinformation disclosure system, with the publication rate reaching 100%.

Administrative penalties for environmental problems during the reporting period

Company or subsidiary nameReason of punishmentViolation of regulationsPunishment resultImpact on the production and operation ofCompany's rectification measures
listed companies
N/AN/AN/AN/AN/AN/A

Other environmental information that should be disclosedNoneMeasures and effects taken to reduce its carbon emissions during the reporting period

√Applicable □Not applicable

In the first half of 2024, the Company added 600,000 kilowatts of wind power and 234,500 kilowatts ofphotovoltaic power, which is expected to contribute about 1.892 billion kWh of clean energy every year,saving about 596,000 tons of standard coal and reducing about 1570400 tons of carbon dioxide emissions,equivalent to rebuilding 3,900 hectares of forest. In addition, with the main goal of energy saving and carbonreduction, the Company actively promoted the "three-reform linkage" of coal-fired power units, completedthe flow path retrofit of Jinghai No.1 and No.2 units and Red Bay No.1 and No.2 units in the first half of theyear, actively explored the heating market, tapped the heating potential, promoted the comprehensiveimprovement of cold-end efficiency of coal-fired power units, utilization of flue gas waste heat, sealing ofair preheater, resistance reduction of air-flue gas system, energy saving of fans and pumps, comprehensiveoptimization of pulverizing system, energy-saving and consumption-reducing transformation of high-energy-consuming motors and transformers, and finally achieved a year-on-year reduction of coal consumption inpower supply of the Company, which is 3.34 g/kWh.Other information related to environmental protectionNoneThe Company shall comply with the disclosure requirements of power-related industries in theGuideline No.3 for Self-regulation of Listed Companies of Shenzhen Stock Exchange-Industry InformationDisclosure.

1. The Company has strictly abode by the Environmental Protection Law of People's Republic of China,the Law of the People's Republic of China on the Prevention and Control of Atmospheric Pollution, the Lawof the People's Republic of China on the Prevention and Control of Water Pollution and the Law of thePeople's Republic of China on Prevention and Control of Environmental Pollution by Solid Waste to carryout production and business activities. In the first half of 2024, the Company's thermal power plant'soperating expenses for implementing environmental protection policies and regulations were mainly due tothe purchase of limestone and denitration materials, totaling about RMB 117.63 million.

2. In the first half of 2024, the standard coal consumption of the Company's thermal power plant was

293.17g/kWh, the sulfur dioxide emission performance value was 0.048g/kWh, the nitrogen oxide emissionperformance value was 0.127g/kWh, and the soot emission performance value was 07g/kWh. Including: theoperation rate of desulfurization device of 100%, with an average desulfurization efficiency of 99.1%; theaverage operation rate of denitration device of 99.8%, with an average denitration efficiency of 88.3%; andthe operation rate of dry dedusting device of 99.99%, with an average dedusting efficiency of 99.88%.

Information related to environmental accidents of the listed company

In the first half of 2024, there were no environmental accidents in the Company.II. Social responsibilities

1. Jinghai Power Generation Company provided pairing-off assistance to Jishui Geshan Village

In the first half of 2024, Jinghai Power Generation Company actively fulfilled its social responsibilities,solidly carried out the assistance work in the town, and focused on the villagers' urgent concerns based onthe main principle of "emphasizing key points, improving shortcomings and strengthening weaknesses";Relying on the professional strength of the team of science and technology specialists of Huizhou University,it provided technical guidance to the villagers on the whole process of shrimp breeding to improve theshrimp breeding efficiency; It carried out special investigation and rectification activities for electricitysafety in key areas, and investigated and solves more than 10 electricity hidden dangers, so as to help GeshanVillage realize the controllable and in-control electricity safety; It went to saline-alkali land to conduct waterquality inspection, and improved the utilization rate of land by introducing advanced saline-alkali landimprovement technology.

2. Red Bay Power Generation Company provided pairing-off assistance to Jishui Village in BawanTown

In the first half of 2024, Red Bay Power Generation Company actively implemented the "Hundred-Thousand-Ten Thousand Project" of the provincial party committee and the deployment of Green andBeautiful Guangdong, and donated 480 saplings to Jishui Village and Changgou Village in total, creating arural environment of "roads in green, houses in gardens and people in scenery", helping the "Hundred-Thousand-Ten Thousand Project" and bringing new vitality and vigor to the beautiful countryside. At thesame time, it actively carried out activities of helping the "Happy Canteen" and "Visiting and ExpressingSolicitudes", and donated materials (rice and cooking oil) with a total value of RMB 145,000, which not onlysolved the dining problem of empty nesters and households enjoying the five guarantees in Jishui Village,but also strengthened communication with Dongzhou Street and Zhelang Street, demonstrating corporatesocial responsibility and accountability with practical actions.

3. Yunhe Power Generation Company provided pairing-off assistance to Furong Village, Yaogu Town

In the first half of 2024, Yunhe Power Generation Company actively carried out rural revitalization,organized its employees to go to Furong Village to participate in voluntary tree planting activities, andcontributed to greening Furong Village and beautifying Furong Village's environment; It continued to carryout consumer assistance actions, purchased agricultural and sideline products such as Dali rice flour,Niuxiaoyang crushed peanut oil, Luoding Longfeng Chengxiang rice, etc., totally worthy of about RMB130,000, to increase the collective economic income of the village and empower the "Rural Revitalization".

4. Zhanjiang Electric Power Company provided pairing-off assistance to Xilian Town

In the first half of 2024, it carried out in-depth work to help the towns and villages, and sent twoemployees to Xilian Town. Through various co-construction activities, it jointly explored the demonstrationpath led by party building with rich local characteristics to enrich the people and strengthen the village andfor livability and good governance; It assisted Xilian Town in planning green plants in the town, carried outtree planting activities in the countryside, and planned the assigned forests such as "Guangdong EnergyYouth Forest" and planted 400 trees of various varieties such as white sugar poppy and litchi in GuatengVillage, Xilian Town, helping Xilian Town write a realistic "green and beautiful" answer sheet; It improvedthe rural living environment, painted a new scene of Xilian, and assisted Bianban Village in Xilian Town

with many units to build a portal park integrating leisure, entertainment and party building propaganda onidle land, effectively improving the environmental facilities and villagers' quality of life in Xilian Town.

5. Hanhai New Energy Company helped the surrounding areas

Hanhai New Energy Company practiced the slogan of "promoting the spirit of aiding Xinjiang at thefoot of Kunlun Mountain and casting excellent projects on Gobi Desert" and adhered to the combination of"support" and "cooperation", which brought not only clean energy projects, but also advanced technologiesand concepts; It carried out skills upgrading training for farmers in the surrounding areas of the project, andprovided employment opportunities, greatly improving the quality of life of farmers in the surrounding areas.

6. Maoming Thermal Power Plant provided pairing-off assistance to Xiaoliang Town

In the first half of 2024, Maoming Thermal Power Plant vigorously carried out the work of helping thetowns and villages in the town, and sent one cadre to the town, mainly to help Nazhuang Village, andallocated RMB 100,000 for the construction of the cultural square promenade project to create a harmoniousliving environment between man and nature, which won unanimous praise from the local party committeeand government, village committees and villagers; It strengthened the cooperation between government andenterprises, implemented the practice of civilization in the new era, paired up with the civilization practicestation in the new era of Hexi Street to jointly organize the cultural exchange activity of "Inheriting theTradition of the Festival and Welcoming the Lantern Festival", and regularly organized volunteers to go tothe community to carry out voluntary service activities to create a national civilized city and consolidate anational health city.

VI. Important EventsI. The fulfilled commitments in the reporting period and under-fulfillment commitments by the end ofthe reporting period made by the company, shareholder, actual controller, acquirer, director, supervisor,senior management personnel and other related parities.

□ Applicable √Not applicable

There is no commitment that has not been fulfilled by actual controller, shareholders, related parties, acquirersof the CompanyII. Particulars about the non-operating occupation of funds by the controlling shareholder

□ Applicable √ Not applicable

No non-operational fund occupation from controlling shareholders and its related party in period.III. External guarantee out of the regulations

□ Applicable √ Not applicable

No external guarantee out of the regulations occurred in the period.IV. Appointment and non-reappointment (dismissal) of CPAWhether the semi-annual financial report had been audited

□Yes √ No

The semi-annual report was not auditedV. Explanation on “non Qualified Opinion” from CPA by the Board and Supervisory Committee

□ Applicable √ Not applicable

VI. Explanation from the Board for “non Qualified Opinion” of last year’s

□ Applicable √ Not applicable

VII. Bankruptcy reorganization

□ Applicable √ Not applicable

No bankruptcy reorganization for the Company in reporting periodVIII. Litigations and arbitrationsSignificant litigations and arbitrations

□ Applicable √ Not applicable

No such cases in the reporting period.Other lawsuits

√Applicable □ Not applicable

Basic information of litigation (arbitration).Amount involved (RMB 10,000 )Whether a projected liability is formedLitigation (arbitration) progressOutcome and impact of litigation (arbitration) hearingsEnforcement of litigation (arbitration) judgmentsDate of disclosureDisclosure Index
Guangdong Yuedian Yangjiang Offshore Wind Power Co., Ltd. v. Fuzhou Xinchuang Electromechanical Equipment Co., Ltd., Fujian Yongfu Electric Power Design Co., Ltd. and Fujian Huajing Marine Technology Co., Ltd., Guangdong Yuedian Yangjiang Offshore Wind Power Co., Ltd.'s litigation claims include: compensation for the costs of dismantling, repairing or replacing the offshore wind power facilities due to damage, as well as the loss of operation or expected profits, totaling RMB241,407,700.24,140.77NOThe case has been held in December 2023, and the parties are currently in the judicial appraisal stage.N/AN/A
Guangdong Yuedian Yangjiang Offshore Wind Power Co., Ltd. v. China Energy Construction Group Guangdong Thermal Power Engineering Co., Ltd. and Jiangsu Huaxicun Offshore Engineering Service Co., Ltd., Guangdong Yuedian Yangjiang Offshore Wind Power Co., Ltd.'s litigation claims include: 1. the return of the advance payment for the project and the payment of liquidated damages for construction delays, totaling RMB 176,739,200; 2. The litigation costs, preservation fees, attorney fees and reasonable expenses incurred in this case shall be jointly borne by Guanghuo Huaxi Consortium.17,673.92NOThe case has been held at a pre-trial conference on August 24, 2024, and the parties are still in the evidence stage on the matter.N/AN/A

IX. Penalty and rectification

□ Applicable √ Not applicable

During the reporting period, the Company had no Penalty and rectification.X. Integrity of the company and its controlling shareholders and actual controllers

□ Applicable √ Not applicable

XI.Material related transactions

1. Related transactions in connection with daily operation

√Applicable □Not applicable

Details of the connected transactions relating to daily operations that occurred during the reporting period ofthe Company are set out in ‘7. Other Significant Connected Transactions’.

2. Related-party transactions arising from asset acquisition or sold

□Applicable √ Not applicable

No such cases in the reporting period.

3. Related-party transitions with joint investments

√Applicable □Not applicable

Refer to "7. Other major related-party transactions" for the related-party transactions of joint foreigninvestment during the reporting period.

4. Credits and liabilities with related parties

□Applicable √ Not applicable

Whether has non-operational contact of related liability and debts or not

□Yes √ No

No non-operational contact of related liability or debts in Period

5. Transactions with related finance company, especially one that is controlled by the Company

√ Applicable □Not applicable

Deposit business

Related partyRelationshipMaximum daily deposit limitd(Ten thousand yuan）Deposit interest rate rangeBeginning balance(Ten thousand yuan）The amount incurredEnding balance(Ten thousand yuan）
Total deposit amount of the current period（Ten thousand yuan）Total amount withdrawn in the current period（Ten thousand yuan）
Guangdong EnergyControlled by1,800,0000.2%-3.5%1,418,3705,559,0645,563,7471,413,687
Group Finance Co., Ltd.Guangdong Energy Group Co., Ltd.

Loan business

Related partyRelationshipLoan limit((Ten thousand yuan）Loant interest rate rangeBeginning balance((Ten thousand yuan）The amount of this periodEnding balance((Ten thousand yuan）
Total loan amount of the current period(Ten thousand yuan）Total repayment amount of the current period(Ten thousand yuan）
Guangdong Energy Group Finance Co., Ltd.Controlled by Guangdong Energy Group Co., Ltd.3,900,0002.40%-3.81%1,041,466128,185.0899,7291,069,922

Credit extension or other financial services

Related partyRelationshipBusiness typeTotal amount(Ten thousand yuan）Actual amount incurred(Ten thousand yuan）
Guangdong Communications Group Finance Co., LtdControlled by the same parent companyCredit extension3,900,0001,069,922

6. Transactions with related finance company controlled by the Company

□ Applicable √ Not applicable

No such cases in the reporting period.

7. Other significant related-party transactions

√ Applicable □Not applicable

1. On December 14, 2023, the 16th meeting of the 10th Board of Directors of the company reviewed andpassed the "Proposal on Daily Connected Transactions between the Company and Guangdong Energy GroupCo., Ltd. in 2024", and this connected transaction matter was reviewed and approved for implementation by thecompany's first extraordinary general meeting of shareholders in 2024.

2. On December 14, 2023, the 16th meeting of the 10th Board of Directors of the company reviewed andpassed the "Proposal on Signing the 'Financial Services Framework Agreement' with Guangdong Energy Group

Finance Co., Ltd.", the "Proposal on Signing the 'Financing Leasing Cooperation Framework Agreement' withGuangdong Energy Financing Leasing Co., Ltd.", and the "Proposal on Signing the 'Insurance and RiskManagement Services Cooperation Framework Agreement' with Guangdong Energy Property Insurance Self-Insurance Co., Ltd.". The above-mentioned connected transaction matters were reviewed and approved forimplementation by the company's first extraordinary general meeting of shareholders in 2024.

3. On February 22, 2024, the first communication meeting of the 10th Board of Directors in 2024reviewed and passed the "Proposal on the Introduction of Investors by Indirect Subsidiaries". In order toimplement the usage purpose of the special funds of the Guangdong Provincial State-owned Assets Supervisionand Administration Commission and meet the requirements of the special funds as project capital, the Board ofDirectors agreed that the company's indirect subsidiary, Guangdong Yuedian Qujie Wind Power GenerationCo., Ltd., would introduce 50 million yuan of special funds for promoting economic development ofGuangdong Energy Group Co., Ltd. through a non-public agreement capital increase. After the completion ofthe capital increase of this special fund, Guangdong Energy Group's final investment ratio was 1.98%, and itwould enjoy the income dividend of the Wailuo Project in accordance with the proportion of the special fundsaccounting for 7.69% of the capital of the Wailuo Project. The company's holding subsidiary, Guangdong WindPower Generation Co., Ltd., waived the preemptive right to subscribe for capital increase of Qujie Wind PowerCompany this time.

4. On April 26, 2024, the 19th meeting of the 10th Board of Directors of the company reviewed andpassed the "Proposal on Capital Increase of Guangdong Provincial Electric Power Industry Fuel Co., Ltd." andthe "Proposal on Capital Increase by Conversion of Undistributed Profits of Guangdong Provincial ElectricPower Industry Fuel Co., Ltd.". In order to meet the capital demand for the construction of new energy projects,the Board of Directors agreed that our company and Guangdong Energy Group Co., Ltd. would simultaneouslyincrease capital to Guangdong Provincial Electric Power Industry Fuel Co., Ltd. in accordance with the equityratio of 111.8739 million yuan for the construction of the 150MW photovoltaic power station (Phase I 100MW)project in Yanhu District, Yuncheng City, Shanxi Province. Among them, our company increased capital by

55.937 million yuan in accordance with a 50% equity ratio. In order to reduce financial risks and enhancefinancing strength, the Board of Directors agreed that the subsidiary, Guangdong Provincial Electric PowerIndustry Fuel Co., Ltd., would convert 347.13 million yuan of undistributed profits into registered capital.

Website for temporary disclosure of the connected transaction

AnnouncementDate of disclosureWebsite for disclosure
Expected Announcement of Daily Connected Party Transactions in 2024December 16,2023http//www.cninfo.com.cn.
Financial Services Framework Agreement < Financial Leasing Cooperation Framework Agreement >< Insurance and Risk Management Service Cooperation Framework Agreement > and Related Transaction AnnouncementDecember 16,2023http//www.cninfo.com.cn.
Announcement on related party transactions involving the introduction of investors by indirect subsidiariesFebruary 23, 2024http//www.cninfo.com.cn.
Announcement on the related party transaction of capital increase to Guangdong Electric Power Industry Fuel Co., Ltd. and the conversion ofApril 30, 2024http//www.cninfo.com.cn.

undistributed profits into registered capital

XII. Significant contracts and execution

1.Entrustments, contracting and leasing

（1）Entrustment

√ Applicable □Not applicable

Statement of Trusteeship Situation :

According to the statement of Guangdong Energy Group on fulfilling relevant matters, and to avoid thehorizontal competition and fulfill the relevant commitment of the horizontal competition, the Company signedStock Trusteeship Agreement with Guangdong Energy Group, wherein the shareholder's rights within thetrusteeship range, except the ownership, right of earning and right of disposition, will be trusted to theCompany, which is predicted to charge 245,000 yuan as trustee fee per year. See details at the " RelatedTransaction Announcement on Stock Trusteeship Agreement signed with Guangdong Yudean Group Co., Ltd."published by the Company in China Securities Daily, Securities Times and http://www.cninfo.com.cn onJanuary 13, 2018(Announcement No.2018-04);In the first half of 2024, the Company confirmed a custodyincome of RMB 900,000.Gains/losses to the Company from projects that reached over 10% in total profit of the Company inreporting period

□Applicable √ Not applicable

No gains or losses to the Company from projects that reached over 10% in total profit of the Company inreporting period

(2) Contract

□ Applicable √ Not applicable

No any contract for the Company in the reporting period.

(3) Lease

□ Applicable √ Not applicable

NoteAs the lessee, the company has incurred a rental fee of RMB 16,058,358 in this year.Project which generates profit or loss reaching over 10% of total profits of the Company during the ReportingPeriod

□ Applicable √ Not applicable

There were no leases with a 10% or greater impact on the Company’s gross profit in the Reporting Period.

2.Significant Guarantees

√Applicable □ Not applicable

In RMB10,000

Guarantee of the Company for the controlling subsidiaries (Exclude controlled subsidiaries)
Name of the CompanyRelevant disclosure date/No. of the guaranteed amountAmount of GuaranteeDate of happening (Date of signing agreement)Actual mount of guaranteeGuarantee typeGuaranty（If any）Counter-guarantee（If any）Guarantee termComplete implementation or notGuarantee for associated parties (Yes or no)
Guangdong Energy Group Co., Ltd.October 29,2020200,000November 19,2020184,208Joint and several liability guaranteeN/AGuangdong Yudean Yangjiang Offshore wind power Co., Ltd. provides joint and several liability guarantee counter-guarantee23 years and 9 monthsNoYes
Total amount of approved external guarantee in the report period(A1)0Total actually amount of external guarantee in the report period(A2)-5,264
Total amount of approved external guarantee at the end425,459Total actually amount of external guarantee at the end184,208
of the report period(A3)of the report period(A4)
Guarantee of the company for its subsidiaries
Name of the CompanyRelevant disclosure date/No. of the guaranteed amountAmount of GuaranteeDate of happening (Date of signing agreement)Actual mount of guaranteeGuarantee typeGuaranty（If any）Counter-guarantee（If any）Guarantee termComplete implementation or notGuarantee for associated parties (Yes or no)
Guangdong Wind Power Generation Co., Ltd.August 31,2022200,000March 21, 202360,000Joint liability guaranteeN/AN/AThe duration of each issue of corporate bonds under the registration approval of Guangdong Wind Power Generation Co., Ltd. will end on the day that is two years after the latest due date of the corporate bondNoNo
Total of guarantee for subsidiaries approved in the period(B1)0Total of actual guarantee for subsidiaries in the period (B2)0
Total of guarantee for subsidiaries approved at period-end(B3)441,536Total of actual guarantee for subsidiaries at period-end(B4)60,000
Guarantee of the subsidiaries for the controlling subsidiaries
Name of the CompanyRelevant disclosure date/No. of the guaranteed amountAmount of GuaranteeDate of happening (Date of signing agreement)Actual mount of guaranteeGuarantee typeGuaranty（If any）Counter-guarantee（If any）Guarantee termComplete implementation or notGuarantee for associated parties (Yes or no)
The Company’s total guarantee(i.e.total of the first three main items)
Total guarantee quota approved in the reporting period（A1+B1+C1）0Total amount of guarantee actually incurred in the reporting period（A2+B2+C2）-5,264
Total guarantee quota already approved at the end of the reporting period（A3+B3+C3）866,995Total balance of the actual guarantee at the end of the reporting period（A4+B4+C4）244,208
The proportion of the total amount of actually guarantee in the net assets of the Company (that is A4+B4+C4）%10.77%
Including：
Amount of guarantees provided for shareholders, the actual controller and their related parties (D)184,208
Amount of debt guarantees provided directly or indirectly for entities with a liability-to-asset ratio over 70% (E)60,000
Proportion of total amount of guarantee in net assets of the company exceed 50%（F）0
Total amount of the three kinds of guarantees above (D+E+F)244,208

After the capital increase and stock expansion of Guangdong Wind Power Company, the six strategic investorsintroduced hold a total of 23.5604% of the equity of Guangdong Wind Power Company, and the company'sshareholding of Guangdong wind Power Company decreased from 100% to 76.4396%. Due to the fact thataccording to relevant regulations, Beijing Chengtong Industrial Finance Equity Investment Fund (LimitedPartnership) and other investors cannot provide guarantees for Guangdong Wind Power Company, theCompany has provided full guarantees for Guangdong Wind Power Company's public bond issuance beforethis capital increase, The six strategic investors agreed to provide risk control measures by Guangdong WindPower Company to pay guarantee fees to the Company after the completion of this capital increase to preventthe Company's guarantee compensation risk.Guangdong Wind Power Company, as the holding subsidiary of the company, holds good quality of projectassets and stable production and operation; In accordance with the standard operation requirements of listedcompanies, I manage the project operation, daily affairs, financial control and other aspects, so that the risksand decisions of its business activities can be effectively controlled, and it has the due solvency. Therefore, therisk of this guarantee behavior is controllable, and there is no behavior that damages the interests of thecompany and shareholders.

3. Finance management on commission

□Applicable √ Not applicable

No such cases in the reporting period.

4. Other significant contract

□ Applicable √ Not applicable

No such cases in the reporting period.XIII. Explanation on other significant events?Applicable □ Not applicable

1. In order to objectively and fairly reflect the asset status of the Company and provide investors with moretruthful, reliable and accurate accounting information, after deliberation at the 18th meeting of the 10thBoard of Directors of the Company, it is agreed that the Company will make a impairment provision forlong-term equity investment of RMB 1,206,292,600 for the equity held by the parent company in itssubsidiaries in 2023 in accordance with relevant regulations such as the Accounting Standards for BusinessEnterprises, taking into account the actual situation of the Company's assets, resulting in a decrease of RMB1,206,292,600 in the net profit of the parent company's financial statements and no impact on the net profitattributable to the parent company in the consolidated statements; and it will make an asset impairmentprovision of RMB 1,324,520,400 for potential asset impairment of the Company and its subsidiaries in 2023,resulting in a decrease of RMB 1,140,904,900 in the net profit attributable to the parent company in theconsolidated statements.

2. In order to more objectively and fairly reflect the financial condition and operating results of the Company,after deliberation at the 18th meeting of the 10th Board of Directors, it is agreed that the Company will make

accounting policy changes in accordance with Interpretation No. 17 of the Accounting Standards forBusiness Enterprises from January 1, 2024.XIV. Significant event of subsidiary of the Company

□ Applicable √ Not applicable

VII. Change of share capital and shareholding of Principal ShareholdersI. Changes in share capital

1. Changes in share capital

In shares

Before the changeIncrease/decrease（+，-）After the Change
AmountProportionShare allotmentBonus sharesCapitalization of common reserve fundOtherSubtotalQuantityProportion
I. Share with conditional subscription1,897,963,28736.15%16,05016,0501,897,979,33736.15%
1. State-owned shares0
2. State-owned legal person shares1,893,454,25736.06%01,893,454,25736.06%
3.Other domestic shares4,509,0300.09%16,05016,0504,525,0800.09%
Of which：Domestic legal person shares3,535,7700.07%03,535,7700.07%
Domestic natural person shares973,2600.02%16,05016,050989,3100.02%
4.Foreign shares
Of which：Foreign legal person shares
Foreign natural person shares
II. Shares with unconditional subscription3,352,320,69963.85%-16,050-16,0503,352,304,64963.85%
1.Common shares in RMB2,553,912,69948.64%-16,050-16,0502,553,896,64948.64%
2.Foreign shares in domestic market798,408,00015.21%798,408,00015.21%
3.Foreign shares in foreign market
4.Other
III. Total of capital shares5,250,283,986100%5,250,283,986100%

Reasons for share changed

√ Applicable □ Not applicable

In March, 2024, Ms. Ling Xiaoqing, the former director of the Company, newly held 16,050 A shares of theCompany, and these A shares have been converted into executive lock-in shares, therefore the number ofrestricted shares of the Company has correspondingly increased.Approval of Change of Shares

□Applicable √Not applicable

Ownership transfer of share changes

□Applicable √Not applicable

Progress on any share repurchase:

□ Applicable √ Not applicable

Progress on reducing the repurchased shares by means of centralized bidding:

□ Applicable √ Not applicable

Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per shareattributable to common shareholders of Company in latest year and period

□ Applicable √ Not applicable

Other information necessary to disclose for the company or need to disclosed under requirement from securityregulators

□ Applicable √Not applicable

2. Change of shares with limited sales condition

√ Applicable □ Not applicable

In Shares

ShareholderNumber of restricted shares at the beginningNumber of restricted shares in increased this periodNumber of restricted shares released in this periodNumber of restricted shares at the end of the periodReasons for sales restrictionRelease date of sales restriction
Li Xiaoqing0016,05016,050Executive lock-in sharesFebruary 2025
Total0016,05016,050----

II. Securities issue and listing

□ Applicable √Not applicable

III. Number of shareholders and shareholding

In Shares

Total number of common shareholders at the end of the reporting period114,297Total number of preferred shareholders that had restored the voting right at the end of the reporting period (if any) (note 8)0
Particulars about shares held above 5% by shareholders or top ten shareholders(Excludes shares lent through refinancing)
ShareholdersNature of shareholderProportion of shares held（%）Number of shares held at period -endChanges in reporting periodAmount of restricted shares heldAmount of un-restricted shares heldNumber of share pledged/frozen
State of shareAmount
Guangdong Energy Group Co., Ltd.State-owned legal person67.39%3,538,116,92101,893,454,2571,644,662,664Not applicable0
Guangzhou Development Group Co., Ltd.State-owned legal person2.22%116,693,60200116,693,602Not applicable0
Guangdong Electric Power Development CorporationState-owned legal person1.80%94,367,3410094,367,341Not applicable0
Zheng JianxiangDomestic Natural person0.51%26,600,000195,056026,600,000Not applicable0
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUNDOverseas Legal person0.30%15,855,5120015,855,512Not applicable0
CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LTDOverseas Legal person0.29%15,378,36650,000015,378,366Not applicable0
GUOTAI JUNAN SECURITIES（HONG KONG） LIMITEDOverseas Legal person0.26%13,846,931-2,523,820013,846,931Not applicable0
NOMURA SINGAPORE LIMITEDOverseas Legal person0.24%12,599,8430012,599,843Not applicable0
Chaokang Investment Co., Ltd.Overseas Legal person0.22%11,656,6770011,656,677Not applicable0
Zhou ZhengDomestic Natural person0.21%10,812,7950010,812,795Not applicable0
Strategy investors or general legal person becomes top 10 shareholders due to rights issued (if applicable)（See Notes 3）Not applicable
Explanation on associated relationship among the aforesaid shareholdersThe Third largest shareholder Guangdong Electric Power Development Corporation And the ninth largest shareholder Chaokang Investment Co., Ltd. Are the the wholly-owned subsidiaries of the largest shareholder Energy Group. These three companies have relationships; whether the other shareholders have relationships or unanimous acting was unknown
Above shareholders entrusting or entrusted with voting rights, or waiving voting rightsNot applicable
Top 10 shareholders including the special account for repurchase (if any) (see note 11)Not applicable
Shareholding of top 10 shareholders of unrestricted shares(Excluding shares lent through refinancing and Top management lock-in stock)
Name of the shareholderQuantity of unrestricted shares held at the end of the reporting periodShare type
Share typeQuantity
Guangdong Energy Group Co., Ltd.1,644,662,664RMB Common shares1,644,662,664
Guangzhou Development Group Co., Ltd.116,693,602RMB Common shares116,693,602
Guangdong Electric Power Development Corporation94,367,341RMB Common shares94,367,341
Zheng Jianxiang26,600,000Foreign shares placed in domestic exchange26,600,000
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND15,855,512Foreign shares placed in domestic exchange15,855,512
CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LTD15,378,366Foreign shares placed in domestic exchange15,378,366
GUOTAI JUNAN SECURITIES（HONG KONG） LIMITED13,846,931Foreign shares placed in domestic exchange13,846,931
NOMURA SINGAPORE LIMITED12,599,843Foreign shares placed in domestic exchange12,599,843
Chaokang Investment Co., Ltd.11,656,677Foreign shares placed in domestic exchange11,656,677
Zhou Zheng10,812,795Foreign shares placed in domestic10,812,795
exchange
Explanation on associated relationship or consistent action among the top 10 shareholders of non-restricted negotiable shares and that between the top 10 shareholders of non-restricted negotiable shares and top 10 shareholdersThe Third largest shareholder Guangdong Electric Power Development Corporation And the ninth largest shareholder Chaokang Investment Co., Ltd. Are the the wholly-owned subsidiaries of the largest shareholder Energy Group. These three 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 )(See Notes 4)Not applicable

Information of shareholders holding more than 5% of the shares, the top 10 shareholders and the top 10shareholders of unrestricted tradable shares participating in the lending of shares in securities lending andborrowing business

□ Applicable √ Not applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed comparedwith the previous period due to the securities lending/returning,

□ Applicable √ Not applicable

Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement dealing in reporting period.

□ Yes √ No

The 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.IV. Changes in shareholdings of directors, supervisors and executive officers

?Applicable□ Not applicable

NamePositionEmployment statusNumber of shares held at the beginning of the period (shares)Number of shares increased in this period (shares)Number of shares reduced in this period (shares)Number of shares held at the end of the period (shares)Number of restricted shares granted at the beginning of the period (shares)Number of restricted shares granted in this period (shares)Number of restricted shares granted at the end of the period (shares)
LiDirectorDimissio016,050016,050000
Xiaoqingn
Total----016,050016,050000

V. 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.

VIII. Situation of the Preferred Shares

□Applicable √Not applicable

The Company had no preferred shares in the reporting period

IX. Corporate Bond

√ Applicable □ Not applicable

I. Enterprise bond

□ Applicable √ Not applicable

No such cases in the reporting period.II. Corporate bond

√ Applicable □ Not applicable

I. Basic information of corporate bonds

In RMB 10,000

Bond nameBond short nameBond codeIssue dayValue dateDue dayBond balanceInterest rateServicing wayTrading
Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase I) of Guandong Electric Power Development Co.,Ltd.21 Yudean 01149369.SZJanuary 26,2021January 27, 2021January 27, 202403.57%Using simple interest rate on a yearly basis, regardless of compound interest. Due payments once a year, maturing debt at aShenzhen Stock Exchange
time. In the final phase, interest is paid together with the principal redemption.
Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase II) of Guandong Electric Power Development Co.,Ltd.21Yudean 02149418.SZApril 27,2021April 28,2021April 28,202612,5002.45%Using simple interest rate on a yearly basis, regardless of compound interest. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.Shenzhen Stock Exchange
Public Issuance of21Yedean 03149711.SZNovembeNovember 24,November80,0003.41%UsingShenzhen
Corporate Bonds to Professional Investors in 2021 (Phase I) of Guandong Electric Power Development Co.,Ltd.r 23,2021202124, 2026simple interest rate on a yearly basis, regardless of compound interest. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.Stock Exchange
Public Issuance of Green Corporate Bonds to professional Investors in 2023(phase I)(Variety 2) of Guangdong Wind Power Generation Co., Ltd.G23 Yuefeng 2115042.SHMarch 20,2023March 21,2023March 21,202860,0003.15%Using simple interest rate on a yearly basis, regardless of compound interest. Due payments once a year,Shenzhen Stock Exchange
maturing debt at a time. In the final phase, interest is paid together with the principal redemption.
During the reporting period, interest payment situation of the company bonds（If any）21 Yudean 01, 21 Yudean 02, 21 Yudean 03 and G23 Yuefeng 2 are bonds for professional investors
Applicable trading mechanismMatching transaction, click transaction, inquiry transaction, bidding transaction, negotiation transaction
Whether there are risks and countermeasures for terminating listing transactions（If any)No

Overdue and outstanding bonds

□ Applicable √ Not applicable

2.. Trigger and implementation of option clauses and investor protection clauses of the issuer or investor

√ Applicable □ Not applicable

Some bonds of the Company have option clauses, as follows:

Bond codes: 149418.SZ,115042.SZBond abbreviation: 21 Yudean 02, G23 Yuefeng 2Types of terms included in bonds: adjustment of coupon rate option and resale optionTrigger and implementation of option clause: During the reporting period, 21 Yudean 02 triggered theoption clause. From March 25, 2024 to March 27, 2024, the Company issued three suggestiveannouncements on the implementation measures of coupon rate non-adjustment and investors' resale.It will reduce the coupon rate to 2.45%. After the announcement on the coupon rate adjustment by theCompany, investors exercised the repurchase option, with a registered repurchase size of RMB 1.375 billionand a balance of RMB 125 million after the repurchase of 21 Yudean 02.During the reporting period, d G23 Yuefeng 2 did not reach the exercise period and thus did not triggerthe option clause.Some bonds of the Company have investor protection clauses, as follows:

Bond code: 149711.SZBond abbreviation: 21 Yudean 03Types of terms included in bonds: the issuer's commitment to debt repayment safeguards and remediesfor negative mattersTrigger and implementation of investor protection clauses: The trigger and implementation of investorprotection clauses were not involved in the reporting period.

3.Adjustment of credit rating results during the reporting period

□ Applicable √ Not applicable

4. The implementation and changes of guarantee, debt repayment plan and other debt repaymentguarantee measures during the reporting period and their impact on the rights and interests of bondinvestors

√ Applicable □ Not applicable

(1). Credit enhancement mechanism: 21 Yudean 01, 21 Yudean 02 and 21 Yudean 03 are not guaranteed.G23Yuefeng 2 set up credit enhancement measures, and Guangdong Electric Power Development Co., Ltd.provided full and unconditional irrevocable joint liability guarantee.

(2). Debt repayment plan and other debt repayment guarantee measures: 21 Yudean 01, 21 Yudean 02, 21Yudean 03 and G3 Yuefeng 2 debt repayment plans and other debt repayment guarantee measures have notchanged during the reporting period, and the payment of their principal and interest will be handled by thebond registration institution and relevant institutions. The specific matters of payment will be elaborated inthe announcement disclosed by the issuer in the media specified by China Securities Regulatory Commission,Shenzhen Stock Exchange, Shanghai Stock Exchange and China Securities Industry Association inaccordance with relevant regulations.

III. Debt financing instruments of non-financial enterprises

√ Applicable □ Not applicable

1. Debt financing instruments of non-financial enterprises

In RMB10,000

Bond nameBond short nameBond codeIssue dayValue dateDue dayBond balanceInterest rateServicing wayTrading
2021 MTN (Phase I) of Guangdong Electric Power Development Co., Ltd.21Yudean Fa MTN001102101339.IBJuly 19,2021July 21,2021July 21,2024120,0003.17%Using simple interest rate on a yearly basis, regardless of compound interest. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.Interbank market
2021 MTN (Phase II) of Guangdong Electric Power21Yudean Fa MTN002102102318.IBNovember 15,2021November 17,2021November 17,2024220,0003.13%Using simple interest rate on a yearly basis, regardless ofInterbank market
Development Co., Ltd.compound interest. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.
2022 MTN (Phase I) of Guangdong Electric Power Development Co., Ltd.22Yudean Fa MTN001102281929.IBAugust 24,2022August 26,2022August 26,202760,0002.9%Using simple interest rate on a yearly basis, regardless of compound interest. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.Interbank market
2023 MTN (Phase I) of Guangdong23Yudean Fa MTN001102380558.IBMarch 15,2023March 17,2023March 17,2028160,0003.35%Using simple interest rate on a yearly basis,Interbank market
Electric Power Development Co., Ltd.regardless of compound interest. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.
2024 MTN (Phase I) of Guangdong Electric Power Development Co., Ltd.24 Yudean Fa MTN001102482034.IBMay 22,2024May 24,2024May 24,2029100,0002.41%Using simple interest rate on a yearly basis, regardless of compound interest. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.Interbank market
2024 MTN (Phase II) of24 Yudean Fa MTN002102483012.IBJuly 11,2024July 15,2024July 15,2034150,0002.54%Using simple interest rate onInterbank market
Guangdong Electric Power Development Co., Ltd.a yearly basis, regardless of compound interest. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.
Guangdong Electric Power Development Co., Ltd. Co., Ltd.2023 I phase Ultra-short term financing bills23 Yudean Fa SCP001012382809.IBJuly 25,2023July 26,2023January 19,202402.13%One time repayment of principal and interest dueInterbank market
Guangdong Electric Power Development Co., Ltd. Co., Ltd.2023 II phase Ultra-short term financing bills23 Yudean Fa SCP002012384361.IBDecember 5,2023December 6, 2023May 31,202402.56%One time repayment of principal and interest dueInterbank market
Guangdong Electric Power Development Co., Ltd. Co., Ltd.2024 I phase Ultra-short term financing bills24 Yudean Fa SCP001012481357.IBApril 18,2024April 19,2024October 16,2024100,0001.84%One time repayment of principal and interest dueInterbank market
MTN (Phase I) (Sustainable lingged)of Guangdong Pinghai Power Generation Plant Co., Ltd.of 202121 Pinghai Fa MTN001102102049.IBOctober 135,2021October 15,2021October 15,202430,0003.72%Using simple interest rate on a yearly basis, regardless of compound interest. Due payments once a year, maturing debt at a time. In the final phase, interest is paid together with the principal redemption.Interbank market
During the reporting period, interest payment situation of the company bonds（If any）N//A
Applicable trading mechanismCirculation and transfer in the national inter-bank bond market, its listing and circulation will be carried out in accordance with the relevant regulations promulgate d by the National Interbank Funding Center
Whether there are risks and countermeasures for terminating listing transactions（If any)No

Overdue and unpaid bonds

□ Applicable √ Not applicable

2. Trigger and implementation of option clauses and investor protection clauses of the issuer or investor

□ Applicable √ Not applicable

3.Adjustment of credit rating results during the reporting period

□ Applicable √ Not applicable

4 The implementation and changes of guarantee, debt repayment plan and other debt repaymentguarantee measures during the reporting period and their impact on the rights and interests of bondinvestors

√ Applicable □ Not applicable

1.21Yudeanfa MTN001, 21Yudeanfa MTN002, 22 Yudeanfa MTN001,23 Yudeanfa MTN001, 24YudeanfaMTN001, 24Yudeanfa MTN002, 23 Yudeanfa SCP001,23 Yudeanfa SCP002,24 Yudeanfa SCP001 and 2121Pinghai Fa MTN001 are not guaranteed.

2. The debt repayment plan of the above-mentioned debt financing instruments and other debt repaymentguarantee measures of the Company have not changed during the reporting period.IV. Convertible bond

□ Applicable √ Not applicable

No such cases in the reporting period.V. The loss within the scope of consolidated statements in the reporting period exceeded 10% of the netassets at the end of the previous year

□ Applicable √ Not applicable

VI. Main accounting data and financial indicators of the Company in recent two years by the end of thereporting period

In RMB10,000

At the end of the reporting periodAt the end of last yearAt the same time rate of change
Current ratio0.710.684.41%
Debt ratio79.05%78.96%0.09%
Quick ratio0.550.62-11.29%
Amount of this periodAmount of last periodAt the same time rate of change
Net profit after deducting non-recurring profit and loss119,738116,0443.18%
EBITDA total debt ratio5%5%0%
Time interest earned ratio1.842.06-10.68%
Cash interest guarantee times3.822.7439.42%
EBITDATime interest earned ratio4.094.12-0.73%
Repayment of debt (%)100%100%0%
Payment of interest (%)100%100%0%

X. Financial ReportI. Audit reportHas this semi-annual report been audited?

□ Yes √ No

The semi-annual financial report has not been audited.II. Financial statementsCurrency unit for the statements in the notes to these financial statements: RMB

1. Consolidated balance sheet

Prepared by：Guangdong Electric Power Development Co., Ltd.

June 30,2024

In RMB

ItemsJune 30,2024January 1, 2024
Current asset：
Monetary fund16,111,494,75616,431,429,893
Settlement provision00
Outgoing call loan00
Transactional financial assets00
Derivative financial assets00
Notes receivable01,489,433
Account receivable8,132,965,8508,963,635,678
Financing of receivables00
Prepayments1,351,213,8301,578,880,994
Insurance receivable00
Reinsurance receivable00
Provisions of Reinsurance contracts receivable00
Other account receivable708,354,003798,789,835
Including：Interest receivable00
Dividend receivable65,472,755134,959,219
Repurchasing of financial assets00
Inventories4,306,381,0502,655,504,711
Including：Data resources00
Contract assets10,410,1795,557,720
Assets held for sales00
Non-current asset due within 1 year00
Other current asset1,698,415,5591,496,077,994
Total of current assets32,319,235,22731,931,366,258
Non-current assets：
Loans and payment on other’s behalf disbursed00
Creditor's right investment00
Other investment on bonds00
Long-term receivable00
Long term share equity investment10,177,923,4459,796,842,197
Other equity instruments investment2,435,207,9082,866,347,046
Other non-current financial assets00
Property investment342,839,369347,192,759
Fixed assets68,724,837,77663,017,322,291
Construction in progress26,153,498,93029,990,577,678
Production physical assets00
Oil & gas assets00
Use right assets9,392,971,2069,529,610,412
Intangible assets3,458,729,8213,480,199,559
Including：Data resources00
Development expenses00
Including：Data resources00
Goodwill8,608,8818,608,881
Long-germ expenses to be amortized68,147,26581,082,134
Deferred income tax asset1,141,623,7351,333,310,824
Other non-current asset10,345,717,5398,824,823,048
Total of non-current assets132,250,105,875129,275,916,829
Total of assets164,569,341,102161,207,283,087
Current liabilities
Short-term loans17,020,331,81815,756,979,762
Loan from Central Bank00
Borrowing funds00
Transactional financial liabilities00
Derivative financial liabilities00
Notes payable450,000,000755,000,000
Account payable5,209,262,7754,430,036,315
Advance receipts00
Contract liabilities42,133,55641,328,133
Selling of repurchased financial assets00
Deposit taking and interbank deposit00
Entrusted trading of securities00
Entrusted selling of securities00
Employees’ wage payable784,380,163556,515,567
Tax payable272,534,355343,432,880
Other account payable12,794,775,12113,252,090,748
Including：Interest payable00
Dividend payable00
Fees and commissions payable00
Reinsurance fee payable00
Liabilities held for sales00
Non-current liability due within 1 year7,438,442,3478,926,373,371
Other current liability1,705,416,0112,781,355,471
Total of current liability45,717,276,14646,843,112,247
Non-current liabilities：
Reserve fund for insurance contracts00
Long-term loan67,237,211,20962,832,471,340
Bond payable4,720,908,3255,096,597,183
Including：preferred stock00
Sustainable debt00
Lease liability10,546,756,61110,452,666,128
Long-term payable829,355,556856,210,905
Long-term remuneration payable to staff491,371,120509,049,799
Expected liabilities00
Deferred income125,174,912128,296,225
Deferred income tax liability418,105,462526,993,391
Other non-current liabilities1,028,16751,028,167
Total non-current liabilities84,369,911,36280,453,313,138
Total of liability130,087,187,508127,296,425,385
Owners’ equity
Share capital5,250,283,9865,250,283,986
Other equity instruments00
Including：preferred stock00
Sustainable debt00
Capital reserves5,212,591,8855,202,572,804
Less：Shares in stock00
Other comprehensive income1,175,808,1641,495,237,690
Special reserve56,730,5576,375,889
Surplus reserves8,903,515,1358,903,515,135
Common risk provision00
Retained profit2,081,683,1361,283,749,956
Total of owner’s equity belong to the parent company22,680,612,86322,141,735,460
Minority shareholders’ equity11,801,540,73111,769,122,242
Total of owners’ equity34,482,153,59433,910,857,702
Total of liabilities and owners’ equity164,569,341,102161,207,283,087

Legal representative ：Zheng YunpengnPerson-in-charge of the accounting work：Liu WeiPerson-in -charge of the accounting organ：Meng Fei

2.Parent Company Balance Sheet

In RMB

ItemsJune 30,2024January 1,2024
Current asset：
Monetary fund754,857,528640,629,379
Transactional financial assets00
Derivative financial assets00
Notes receivable00
Account receivable015,920,526
Financing of receivables00
Prepayments30,416,66926,667,749
Other account receivable279,765,5941,366,067,792
Including：Interest receivable00
Dividend receivable65,472,755134,959,219
Inventories1,702,2552,558,632
Including：Data resources00
Contractual assets00
Assets held for sale00
Non-current asset due within one year00
Other current assets615,374117,483
Total current assets1,067,357,4202,051,961,561
Non-current assets:
Loans and payments on behalf00
Debt investment00
Other debt investment1,506,000,0001,450,000,000
Long-term account receivable44,440,995,96043,289,974,748
Long-term equity investment2,434,407,9082,865,547,046
Investment in other equity instrument00
Other non-current financial assets4,165,2534,483,052
Investment real estate163,603,312162,035,315
Fixed assets3,021,2985,477,184
Construction in progress00
Productive biological asset00
Oil and gas asset2,349,9641,217,398
Right-of-use assets66,521,72168,772,261
Including：Data resources00
Development expenses00
Including：Data resources00
Goodwill00
Long-germ expenses to be amortized1,028,0921,025,668
Deferred income tax asset00
Other non-current asset624,569624,569
Total of non-current assets48,622,718,07747,849,157,241
Total of assets49,690,075,49749,901,118,802
Current liabilities
Short-term loans3,404,618,4934,524,405,741
Transactional financial liabilities00
Derivative financial liabilities00
Notes payable00
Account payable254,30217,666,241
Advance receipts00
Contract Liabilities872,706551,450
Employees’ wage payable120,292,454192,951,983
Tax payable425,3984,888,565
Other account payable38,478,66446,649,392
Including：Interest payable00
Dividend payable00
Liabilities held for sales00
Non-current liability due within 1 year4,225,398,4465,195,892,954
Other current liability1,003,680,0002,012,999,526
Total of current liability8,794,020,46311,996,005,852
Non-current liabilities：
Long-term loan9,854,400,0007,030,700,000
Bond payable4,121,373,7694,497,107,076
Including：preferred stock00
Sustainable debt00
Lease liability1,123,462505,313
Long-term payable00
Long-term remuneration payable to staff158,949,307158,949,307
Expected liabilities00
Deferred income00
Deferred income tax liability367,039,479474,824,263
Other non-current liabilities00
Total non-current liabilities14,502,886,01712,162,085,959
Total of liability23,296,906,48024,158,091,811
Owners’ equity
Share capital5,250,283,9865,250,283,986
Other equity instruments00
Including：preferred stock00
Sustainable debt00
Capital reserves4,856,678,2844,842,767,997
Less：Shares in stock00
Other comprehensive income1,187,310,8721,508,154,355
Special reserve00
Surplus reserves8,903,515,1358,903,515,135
Retained profit6,195,380,7405,238,305,518
Total of owners’ equity26,393,169,01725,743,026,991
Total of liabilities and owners’ equity49,690,075,49749,901,118,802

3.Consolidated Income statement

In RMB

ItemsThe first half year of 2024The first half year of 2023
I. Income from the key business26,078,790,97128,340,840,884
Incl：Business income26,078,790,97128,340,840,884
Interest income00
Insurance fee earned00
Fee and commission received00
II. Total business cost24,864,237,68227,463,198,020
Incl：Business cost22,607,604,72925,157,909,557
Interest expense00
Fee and commission paid00
Insurance discharge payment00
Net claim amount paid00
Net amount of withdrawal of insurance contract reserve00
Insurance policy dividend paid00
Reinsurance expenses00
Business tax and surcharge140,803,851102,835,985
Sales expense43,812,40635,592,377
Administrative expense612,823,789553,789,310
R & D costs323,176,647466,613,651
Financial expenses1,136,016,2601,146,457,140
Including：Interest expense1,215,356,5851,192,393,983
Interest income91,313,89553,610,047
Add: Other income27,553,75126,146,147
Investment gain（“-”for loss）545,549,269636,141,107
Incl: investment gains from affiliates432,959,549518,414,902
Financial assets measured at amortized00
cost cease to be recognized as income
Gains from currency exchange00
Net exposure hedging income00
Changing income of fair value00
Credit impairment loss-4,240,548-567,735
Impairment loss of assets-2,060-5,052,018
Assets disposal income10,435-1,988,902
III. Operational profit（“-”for loss）1,783,424,1361,532,321,463
Add ：Non-operational income76,597,54620,730,339
Less: Non-operating expense186,294,82216,425,087
IV. Total profit(“-”for loss)1,673,726,8601,536,626,715
Less：Income tax expenses443,445,689365,380,562
V. Net profit1,230,281,1711,171,246,153
(I) Classification by business continuity
1.Net continuing operating profit1,230,281,1711,171,246,153
2.Termination of operating net profit00
(II) Classification by ownership
1.Net profit attributable to the owners of parent company902,938,860856,538,633
2.Minority shareholders’ equity327,342,311314,707,520
VI. Net after-tax of other comprehensive income-319,429,526-121,980,033
Net of profit of other comprehensive income attributable to owners of the parent company.-319,429,526-121,980,033
（I）Other comprehensive income items that will not be reclassified into gains/losses in the subsequent accounting period-319,601,321-121,980,033
1.Re-measurement of defined benefit plans of changes in net debt or net assets00
2.Other comprehensive income under the equity method investee can not be reclassified into profit or loss.3,753,03214,516,041
3. Changes in the fair value of investments in other equity instruments-323,354,353-136,496,074
4. Changes in the fair value of the company’s credit risks00
5.Other00
（II） Other comprehensive income that will b171,7950
e reclassified into profit or loss.
1.Other comprehensive income under the equity method investee can be reclassified into profit or loss.171,7950
2. Changes in the fair value of investments in other debt obligations00
3. Other comprehensive income arising from the reclassification of financial assets00
4.Allowance for credit impairments in investments in other debt obligations00
5. Reserve for cash flow hedges00
6.Translation differences in currency financial statements00
7.Other00
Net of profit of other comprehensive income attributable to Minority shareholders’ equity00
VII. Total comprehensive income910,851,6451,049,266,120
Total comprehensive income attributable to the owner of the parent company583,509,334734,558,600
Total comprehensive income attributable minority shareholders327,342,311314,707,520
VIII. Earnings per share
（I）Basic earnings per share0.1720.1631
(II)Diluted earnings per share0.1720.1631

As for the enterprise combined under the same control, net profit of 0 Yuan achieved by the merged partybefore combination while 0 Yuan achieved last period.Legal representative ：Zheng YunpengPerson-in-charge of the accounting work：Liu WeiPerson-in -charge of the accounting organ：Meng Fei

4. Income statement of the Parent Company

In RMB

ItemsThe first half year of 2024The first half year of 2023
I. Income from the key business12,200,605778,009,618
Incl：Business cost11,988,776796,227,119
Business tax and surcharge1,148,5081,587,079
Sales expense01,083,086
Administrative expense92,212,91061,472,571
R & D expense378,60013,701,303
Financial expenses322,963,257316,774,799
Including：Interest expenses327,978,159318,584,536
Interest income6,659,9453,854,894
Add：Other income115,021933,974
Investment gain（“-”for loss）1,466,734,1971,194,924,087
Including: investment gains from affiliates394,508,211473,105,895
Financial assets measured at amortized cost cease to be recognized as income00
Net exposure hedging income00
Changing income of fair value00
Credit impairment loss-4,807-58,935
Impairment loss of assets-2,0600
Assets disposal income-6,9710
II. Operational profit（“-”for loss）1,050,343,934782,962,787
Add ：Non-operational income11,756,724108,406
Less：Non -operational expenses19,756328,408
III. Total profit(“-”for loss)1,062,080,902782,742,785
Less：Income tax expenses00
IV. Net profit1,062,080,902782,742,785
1.Net continuing operating profit1,062,080,902782,742,785
2.Termination of operating net profit00
V. Net after-tax of other comprehensive income-320,843,483-127,423,548
（I）Other comprehensive income items that will not be reclassified into gains/losses in the subsequent accounting period-321,015,278-127,423,548
1.Re-measurement of defined benefit plans of changes in net debt or net assets00
2.Other comprehensive income under the equity method investee can not be reclassified into profit or loss.2,339,0759,072,526
3. Changes in the fair value of investments in other equity instruments-323,354,353-136,496,074
4. Changes in the fair value of the company’s credit risks00
5.Other00
(II)Other comprehensive income that will be reclassified into profit or loss171,7950
1.Other comprehensive income under the equity method investee can be reclassified into profit or loss.171,7950
2. Changes in the fair value of investments in other debt obligations00
3. Other comprehensive income arising from the reclassification of financial assets00
4.Allowance for credit impairments in investments in other debt obligations00
5. Reserve for cash flow hedges00
6.Translation differences in currency financial statements00
7.Other00
VI. Total comprehensive income741,237,419655,319,237
VII. Earnings per share
（I）Basic earnings per share0.20230.1491
(II)Diluted earnings per share0.20230.1491

5. Consolidated Cash flow statement

In RMB

ItemsThe first half year of 2024The first half year of 2023
I.Cash flows from operating activities
Cash received from sales of goods or rending of services30,155,856,33729,849,801,755
Net increase of customer deposits and capital kept for brother company00
Net increase of loans from central bank00
Net increase of inter-bank loans from other financial bodies00
Cash received against original insurance contract00
Net cash received from reinsurance business00
Net increase of client deposit and investment00
Cash received from interest, commission charge and commission00
Net increase of inter-bank fund received00
Net increase of repurchasing business00
Net cash received by agent in securities00
trading
Tax returned276,914,844126,494,026
Other cash received from business operation399,412,989232,786,939
Sub-total of cash inflow30,832,184,17030,209,082,720
Cash paid for purchasing of merchandise and services21,060,012,92124,754,414,595
Net increase of client trade and advance00
Net increase of savings in central bank and brother company00
Cash paid for original contract claim00
Net increase in financial assets held for trading purposes00
Net increase for Outgoing call loan00
Cash paid for interest, processing fee and commission00
Cash paid to staffs or paid for staffs1,331,473,7711,195,727,767
Taxes paid1,432,074,491917,215,517
Other cash paid for business activities1,002,397,916621,354,825
Sub-total of cash outflow from business activities24,825,959,09927,488,712,704
Net cash generated from /used in operating activities6,006,225,0712,720,370,016
II. Cash flow generated by investing
Cash received from investment retrieving00
Cash received as investment gains301,789,602234,329,364
Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets138,401,823180,038,182
Net cash received from disposal of subsidiaries or other operational units00
Other investment-related cash received400,209,9300
Sub-total of cash inflow due to investment activities840,401,355414,367,546
Cash paid for construction of fixed assets, intangible assets and other long-term assets6,144,744,8539,792,986,742
Cash paid as investment51,321,388386,489,722
Net increase of loan against pledge00
Net cash received from subsidiaries and other operational units00
Other cash paid for investment223,698,1000
activities
Sub-total of cash outflow due to investment activities6,419,764,34110,179,476,464
Net cash flow generated by investment-5,579,362,986-9,765,108,918
III.Cash flow generated by financing
Cash received as investment56,327,600105,993,820
Including: Cash received as investment from minor shareholders56,327,600105,993,820
Cash received as loans19,341,168,58530,489,894,292
Other financing –related cash received00
Sub-total of cash inflow from financing activities19,397,496,18530,595,888,112
Cash to repay debts17,478,255,10920,776,673,221
Cash paid as dividend, profit, or interests1,921,200,2341,345,062,517
Including: Dividend and profit paid by subsidiaries to minor shareholders424,199,44780,892,229
Other cash paid for financing activities365,974,0631,468,279,614
Sub-total of cash outflow due to financing activities19,765,429,40623,590,015,352
Net cash flow generated by financing-367,933,2217,005,872,760
IV. Influence of exchange rate alternation on cash and cash equivalents-79,188370
V.Net increase of cash and cash equivalents58,849,676-38,865,772
Add: balance of cash and cash equivalents at the beginning of term11,954,167,15611,433,808,500
VI ..Balance of cash and cash equivalents at the end of term12,013,016,83211,394,942,728

6. Cash Flow Statement of the Parent Company

In RMB

ItemsThe first half year of 2024The first half year of 2023
I.Cash flows from operating activities
Cash received from sales of goods or rending of services22,875,455906,093,635
Tax returned04,169,908
Other cash received from business operation41,415,88543,706,151
Sub-total of cash inflow64,291,340953,969,694
Cash paid for purchasing of merchandise and services8,717,642933,058,819
Cash paid to staffs or paid for staffs146,150,402125,818,320
Taxes paid8,546,88524,128,293
Other cash paid for business activities58,500,29258,329,630
Sub-total of cash outflow from business activities221,915,2211,141,335,062
Net cash generated from /used in operating activities-157,623,881-187,365,368
II. Cash flow generated by investing
Cash received from investment retrieving1,063,550,0002,716,018,959
Cash received as investment gains1,223,895,198792,311,002
Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets727,5657,540
Net cash received from disposal of subsidiaries or other operational units00
Other investment-related cash received10,265,8920
Sub-total of cash inflow due to investment activities2,298,438,6553,508,337,501
Cash paid for construction of fixed assets, intangible assets and other long-term assets8,679,8872,225,723
Cash paid as investment931,371,5321,943,373,129
Net cash received from subsidiaries and other operational units00
Other cash paid for investment activities00
Sub-total of cash outflow due to investment activities940,051,4191,945,598,852
Net cash flow generated by investment1,358,387,2361,562,738,649
III. Cash flow generated by financing
Cash received as investment00
Cash received as loans6,384,704,4154,699,632,000
Other financing –related ash received00
Sub-total of cash inflow from financing activities6,384,704,4154,699,632,000
Cash to repay debts7,010,850,0006,099,000,000
Cash paid as dividend, profit, or interests456,844,435298,701,528
Other cash paid for financing activities3,394,6823,087,340
Sub-total of cash outflow due to financing activities7,471,089,1176,400,788,868
Net cash flow generated by financing-1,086,384,702-1,701,156,868
IV. Influence of exchange rate alternation on cash and cash equivalents-79,188370
V.Net increase of cash and cash equivalents114,299,465-325,783,217
Add: balance of cash and cash equivalents at the beginning of term640,448,760875,157,652
VI ..Balance of cash and cash equivalents at the end of term754,748,225549,374,435

7. Consolidated Statement on Change in Owners’ Equity

Amount in this period

In RMB

ItemsThe first half year of 2024
Owner’s equity Attributable to the Parent CompanyMinor shareholders’ equityTotal of owners’ equity
Share CapitalOther Equity instrumentCapital reservesLLess: Shares in stockOther Comprehensive IncomeSpecialized reserveSurplus reservesCommon risk provisionRetained profitOtherSubtotal
Preferred stockSustainable debtOther
I.Balance at the end of last year5,250,283,9860005,202,572,80401,495,237,6906,375,8898,903,515,13501,283,749,956022,141,735,46011,769,122,24233,910,857,702
Add: Change of accounting policy000000000000000
Correcting of previous errors000000000000000
Other000000000000000
II.Balance at the beginning of current year5,250,283,9860005,202,572,80401,495,237,6906,375,8898,903,515,13501,283,749,956022,141,735,46011,769,122,24233,910,857,702
III.Changed in the current year000010,019,0810-319,429,52650,354,66800797,933,1800538,877,40332,418,489571,295,892
（1）Total comprehensive income000000-319,429,526000902,938,8600583,509,334327,342,311910,851,645
（II）Investment or decreasing000010,019,081000000010,019,081110,218,806120,237,887
of capital by owners
1．Ordinary Shares invested by shareholders0000000000000106,327,600106,327,600
2．Holders of other equity instruments invested capital000000000000000
3．Amount of shares paid and accounted as owners’ equity000000000000000
4．Other000010,019,081000000010,019,0813,891,20613,910,287
（III）Profit allotment0000000000-105,005,6800-105,005,680-425,900,867-530,906,547
1.Providing of surplus reserves000000000000000
2.Providing of common risk provisions000000000000000
3．Allotment to the owners (or shareholders)0000000000-105,005,6800-105,005,680-425,900,867-530,906,547
4．Other000000000000000
(IV) Internal transferring of owners’ equity000000000000000
1. Capitalizing of capital reserves (or to capital shares)000000000000000
2. Capitalizing of surplus reserves (or to capital shares)000000000000000
3．Making up losses by surplus reserves.000000000000000
4.Change amount of defined benefit plans that carry forward000000000000000
Retained earnings
5．Other comprehensive income carry-over retained earnings000000000000000
6．Other000000000000000
(V). Special reserves000000050,354,668000050,354,66820,758,23971,112,907
1. Provided this year0000000193,830,2760000193,830,27688,037,497281,867,773
2．Used this term0000000-143,475,6080000-143,475,608-67,279,258-210,754,866
（VI）Other000000000000000
IV. Balance at the end of this term5,250,283,9860005,212,591,88501,175,808,16456,730,5578,903,515,13502,081,683,136022,680,612,86311,801,540,73134,482,153,594

Amount in last year

In RMB

ItemsThe first half year of 2023
Owner’s equity Attributable to the Parent CompanyMinor shareholders’ equityTotal of owners’ equity
Share CapitalOther Equity instrumentCapital reservesLess: Shares in stockOther Comprehensive IncomeSpecialized reserveSurplus reservesCommon risk provisionRetained profitOtherSubtotal
Preferred stockSustainable debtOther
I.Balance at the end of last year5,250,283,9864,257,046,5051,629,837,957520,3798,903,515,135200,668,51720,241,872,4798,480,658,27728,722,530,756
Add: Change of accounting policy108,421,140108,421,14010,636,379119,057,519
Correcting of previous errors
Other
II.Balance at the beginning of current year5,250,283,9864,257,046,5051,629,837,957520,3798,903,515,135309,089,65720,350,293,6198,491,294,65628,841,588,275
III.Changed in the current year-3,611,666-121,980,03372,200,578856,538,633803,147,512-585,487,309217,660,203
（1）Total comprehensive income-121,980,033856,538,633734,558,600314,707,5201,049,266,120
（II）Investment or decreasing of capital by owners-3,611,666-3,611,666-860,988,927-864,600,593
1．Ordinary Shares invested by shareholders-864,600,593-864,600,593
2．Holders of other equity instruments invested capital
3．Amount of shares paid and accounted as owners’ equity
4．Other-3,611,666-3,611,6663,611,6660
（III）Profit allotment-62,338,708-62,338,708
1.Providing of surplus reserves
2.Providing of common risk provisions
3．Allotment to the owners (or shareholders)-62,338,708-62,338,708
4．Other
(IV) Internal transferring of owners’ equity
1. Capitalizing of capital reserves (or to capital shares)
2. Capitalizing of surplus reserves
(or to capital shares)
3．Making up losses by surplus reserves.
4.Change amount of defined benefit plans that carry forward Retained earnings
5．Other comprehensive income carry-over retained earnings
6．Other
(V). Special reserves72,200,57872,200,57823,132,80695,333,384
1. Provided this year165,514,235165,514,23564,004,036229,518,271
2．Used this term-93,313,657-93,313,657-40,871,230-134,184,887
（VI）Other
IV. Balance at the end of this term5,250,283,9864,253,434,8391,507,857,92472,720,9578,903,515,1351,165,628,29021,153,441,1317,905,807,34729,059,248,478

8.Statement of change in owner’s Equity of the Parent Company

Amount in this period

In RMB

ItemsThe first half year of 2024
Share capitalOther Equity instrumentCapital reservesLess: Shares in stockOther Comprehensive IncomeSpecialized reserveSurplus reservesRetained profitOtherTotal of owners’ equity
Preferred stockSustainableOther
debt
I.Balance at the end of last year5,250,283,9860004,842,767,99701,508,154,35508,903,515,1355,238,305,518025,743,026,991
Add: Change of accounting policy
Correcting of previous errors
Other
II.Balance at the beginning of current year5,250,283,9860004,842,767,99701,508,154,35508,903,515,1355,238,305,518025,743,026,991
III.Changed in the current year13,910,2870-320,843,48300957,075,222650,142,026
（I）Total comprehensive income-320,843,4831,062,080,902741,237,419
(II) Investment or decreasing of capital by owners13,910,28713,910,287
1．Ordinary Shares invested by shareholders
2．Holders of other equity instruments invested capital
3.Amount of shares paid and accounted as owners’ equity
4．Other13,910,28713,910,287
（III）Profit allotment-105,005,680-105,005,680
1.Providing of surplus reserves
2．Allotment to the owners (or shareholders)-105,005,680-105,005,680
3．Other
(IV) Internal transferring of owners’ equity
1. Capitalizing of capital
reserves (or to capital shares)
2. Capitalizing of surplus reserves (or to capital shares)
3．Making up losses by surplus reserves.
4.Change amount of defined benefit plans that carry forward Retained earnings
5．Other comprehensive income carry-over retained earnings
6．Other
(V) Special reserves
1. Provided this year311,908311,908
2．Used this term-311,908-311,908
（VI）Other
IV. Balance at the end of this term5,250,283,9860004,856,678,28401,187,310,87208,903,515,1356,195,380,740026,393,169,017

Amount in last year

In RMB

ItemsThe first half year of 2023
Share CapitalOther Equity instrumentCapital reservesLess: Shares in stockOther Comprehensive IncomeSpecialized reserveSurplus reservesRetained profitOtherTotal of owners’ equity
Preferred stockSustainable debtOther
I.Balance at the end of last year5,250,283,9864,834,675,7721,640,520,6848,903,515,1355,637,851,27426,266,846,851
Add: Change of accounting policy
Correcting of previous errors
Other
II.Balance at the beginning of current year5,250,283,9864,834,675,7721,640,520,6848,903,515,1355,637,851,27426,266,846,851
III.Changed in the current year00-127,423,5480782,742,785655,319,237
（I）Total comprehensive income-127,423,548782,742,785655,319,237
(II) Investment or decreasing of capital by owners
1．Ordinary Shares invested by shareholders
2．Holders of other equity instruments invested capital
3.Amount of shares paid and accounted as owners’ equity
4．Other
（III）Profit allotment
1.Providing of surplus reserves
2．Allotment to the owners (or shareholders)
3．Other
(IV) Internal transferring of owners’ equity
1. Capitalizing of capital reserves (or to capital shares)
2. Capitalizing of surplus reserves (or to capital shares)
3．Making up losses by surplus reserves.
4.Change amount of defined benefit plans that carry forward Retained earnings
5．Other comprehensive income carry-over retained earnings
6．Other
(V) Special reserves
1. Provided this year7,488,1807,488,180
2．Used this term-7,488,180-7,488,180
（VI）Other
IV. Balance at the end of this term5,250,283,9864,834,675,7721,513,097,1368,903,515,1356,420,594,05926,922,166,088

III．Basic Information of the Company

Guangdong Electric Power Development Co., Ltd. (“the Company”) is a limited liability company jointlyestablished by Guangdong Electric Power Holding Company, China Construction Bank, Guangdong ProvinceTrust Investment Company, Guangdong Power Development Co., Ltd., Guangdong International Trust andChina Guangfa Bank (currently named as Guangdong Guangkong Group Co., Ltd.). The address of theCompany’s registered office and head office is F33~F36 South Tower Building of Yudean Square on 2ndTianhe East Road, Guangzhou, Guangdong Province, the People’s Republic of China (“the PRC”). TheCompany’s parent company is Guangdong Energy Group Co., Ltd. (“GEGC”, previously Guangdong ProvinceYudean Group Co., Ltd.) and its ultimate controlling shareholder is the State-owned Assets Supervision andAdministration Commission of the People’s Government of Guangdong Province.The Company’s issuing RMB ordinary shares (“A-share”) and domestic listed foreign shares (“B-share”)are listed for transactions in Shenzhen Stock Exchange respectively on 26 November 1993 and 28 June 1995.On 30 June 2024, the total share capital of the Company is RMB 5,250,283,986 with par value of RMB 1 each.The Company and its subsidiaries (collectively referred to as “the Group”) are principally engaged in thebusinesses of developing and operating electric power plants in Guangdong ， Xingjiang, Yunnan, HunanProvince and Guangxi, the PRC. For the Consolidation scope changed of the Group, please refer to IXThe financial statement has been approved for issue by the Company’s Board of Directors on August29,2024.

For the Consolidation scope changed of the Group, please refer to IX and X(Equity in other entities

IV.Basis for the preparation of financial statements

1.Basis for the preparation

The financial statements are prepared in accordance with the Accounting Standard for BusinessEnterprises - Basic Standard, and the specific accounting standards and other relevant regulations issued by theMinistry of Finance on 15 February 2006 and in subsequent periods (hereafter collectively referred to as “theAccounting Standard for Business Enterprises” or “CAS”), and “Information Disclosure Rule No. 15 forCompanies with Public Traded Securities - Financial Reporting General Provision” issued by China SecurityRegulatory Commission.

2. Continuous operation.

This financial statement is prepared on a going-concern basis.When preparing the financial statements for this year, the Board of Directors of the Company made a full evaluation onthe Company's going-concern ability for 12 months from the end of the reporting period, and the evaluation results showed nomajor doubts about its going-concern ability.V. Significant accounting policies and accounting estimates

Specific accounting policies and accounting estimates tips:

The Group determines specific accounting policies and accounting estimates based on the characteristics ofproduction and operation, which are mainly reflected in the measurement of expected credit losses ofreceivables (Note 5(11)), costing of inventory (Note 5(17)), fixed asset depreciation and intangible assetamortisation (Notes 5(24),(29 and（41）, impairment of long-term assets (Note 5(30)), timing of revenuerecognition (Note 5(37)), deferred tax assets and deferred tax liabilities (Note 5(40)), etc.

Details of the Group's critical judgements used in determining significant accounting policies are setforth in Note 5(43).

1.Complying with the statements in Accounting Standards for Business EnterprisesThe financial Report and statements are prepared with compliance to the requirement of the EnterpriseAccounting Standard. They reflect the financial position as of June 30, 2024 as well as the businessperformance and cash flow situation in the first half of 2024 of the Company frankly and completely.

2. Accounting period

Fiscal year is dated from Gregorian calendar Jan., 1 to Gregorian calendar December, 31.The accounting of the financial statements during the period starts from January 1, 2024 to 6 months ended June 30,2024.

3.Operating cycle

The business cycles for principal activities are usually less than 12 months.

4.Standard currency for bookkeeping

The Company adopts CNY to prepare its functional statements.

5.Determination method and selection basis of importance standard

?Applicable □Not applicable

ItemsCriterion of importance
Long-term equity investmentThe Group determines significant long-term equity investments by taking into account factors such as the book value of joint ventures and associated enterprises, the proportion of long-term equity investment income calculated by equity method to the consolidated net profit of the Group.
Fixed assetsThe Group recognizes fixed asset items with signs of impairment and asset balances greater than RMB 500 million as important fixed asset items.
Subsidiaries with significant minority interestsThe Group determines the subsidiaries with significant minority shareholders' equity in consideration of the proportion of minority shareholders' equity of subsidiaries to the total minority shareholders' equity of the Group.
Construction in progressThe Group determines major construction in progress in consideration of the proportion of construction in progress to the total construction in progress of the Group.
Basic information of important joint ventures and associated enterprisesThe Group determines significant long-term equity investments by taking into account factors such as the book value of joint ventures and associated enterprises, the proportion of important joint ventures and associated

enterprises income calculated by equity method to theconsolidated net profit of the Group.

6. Accounting process method of enterprise consolidation under same and different controlling.

(1) Business combinations involving enterprises under common control

The consideration the combining party paid for the combination and the carrying amount of the net assetsobtained are measured at carrying amount. The difference between the carrying amount of the net assetsobtained and the carrying amount of consideration paid for the combination is adjusted to share premium(capital premium) in the capital reserve. If the balance of share premium (capital premium) is insufficient, anyexcess is adjusted to retained earnings. Any costs directly attributable to the combination are recognized inprofit or loss for the current period when occurred. The transaction costs of issuing equity or debt securities forbusiness combinations.

(2) Business combinations not involving enterprises under common control

The acquirer’s combining costs and the identifiable net assets obtained at the acquisition date aremeasured at fair value. If the combining costs are greater than the fair value of identifiable net assets at theacquisition date, the difference is recognized as goodwill; if the combining costs are less than the fair value ofidentifiable net assets at the acquisition date, the difference is recognized in profit or loss for the current period.The direct acquisition-related costs arising from the business combination are recognized as expenses in theperiods in which the costs are incurred. The costs of the issuance of equity or debt securities as a part of theconsideration paid for the acquisition are included as a part of initial recognition amount of the equity or debtsecurities.

7.Criteria for Control and Preparation Method of Consolidated Financial Statements

Control means that the Company has the power over the investee, enjoys variable returns by participatingin the related activities of the investee, and has the ability to influence the amount of returns by using the powerover the investee.

The consolidated financial statements comprise the financial statements of the Company and all of itssubsidiaries. Subsidiaries are consolidated from the date on which the Group obtains control and aredeconsolidated from the date that such control ceases. For a subsidiary that is acquired in a businesscombination involving enterprises under common control, it is included in the consolidated financial statementsfrom the date when it, together with the Company, comes under common control of the ultimate controllingparty. The portion of the net profit realised before the combination date is presented separately in theconsolidated income statement.

In preparing the consolidated financial statements, where the accounting policies and the accountingperiods of the Company and subsidiaries are inconsistent, the financial statements of the subsidiaries areadjusted in accordance with the accounting policies and the accounting period of the Company. For subsidiariesacquired from business combinations involving enterprises not under common control, the individual financialstatements of the subsidiaries are adjusted based on the fair value of the identifiable net assets at the acquisitiondate.

All significant intra-group balances, transactions and unrealised profits are eliminated in the consolidatedfinancial statements. The portion of subsidiaries’ shareholders’ equity and the portion of subsidiaries’ netprofits and losses and comprehensive incomes for the period not attributable to the Company are recognised as

minority interests, net profit or loss attributable to minority interests and total comprehensive incomeattributable to minority interests, and presented separately in the consolidated financial statements undershareholders’ equity, net profit and total comprehensive income respectively. When the amount of loss for thecurrent period attributable to the minority shareholders of a subsidiary exceeds the minority shareholders’portion of the opening balance of owners’ equity of the subsidiary, the excess is allocated against the balance ofminority interests. Unrealised profits and losses resulting from the sale of assets by the Company to itssubsidiaries are fully eliminated against net profit attributable to owners of the parent. Unrealised profits andlosses resulting from the sale of assets by a subsidiary to the Company are eliminated and allocated between netprofit attributable to owners of the parent and net profit attributable to minority interests in accordance with theallocation proportion of the parent in the subsidiary. Unrealised profits and losses resulting from the sale ofassets by one subsidiary to another are eliminated and allocated between net profit attributable to owners of theparent and net profit attributable to minority interests in accordance with the allocation proportion of the parentin the subsidiary.If the accounting treatment of a transaction is inconsistent in the financial statements at the Group leveland at the Company or its subsidiary level, adjustment will be made from the perspective of the Group

8.Classification of joint venture arrangement and accounting treatment methods for joint operationThe Group is in a period of rapid development, and there is a certain mismatch in the investment andfinancing period. It refers to an arrangement jointly controlled by two or more participants. The Group dividesjoint venture arrangements into joint ventures and joint ventures based on the rights and obligations they enjoyand undertake. Joint operation refers to a joint venture arrangement in which the group enjoys the assets relatedto the arrangement and bears the liabilities related to the arrangement. Joint venture refers to a joint venturearrangement in which the Group only has rights to the net assets of the arrangement.

The Group's investments in joint ventures are accounted for using the equity method and are treated inaccordance with the accounting policies described in "V (22) Long term Equity Investments" in this note. Thegroup does not involve joint operations

9.Cash and cash equivalents

Cash and cash equivalents comprise cash on hand, demand deposits, and short-term, highly liquidinvestments, which are readily convertible into known amounts of cash and are subject to an insignificant riskof change in value.

10.Foreign currency transactions

Foreign currency transactions are translated into recording currency using the exchange rates prevailing atthe dates of the transactions.

At the balance sheet date, monetary items denominated in foreign currencies are translated into RMBusing the spot exchange rates on the balance sheet date. Exchange differences arising from these translationsare recognised in profit or loss for the current period, except for those attributable to foreign currencyborrowings that have been taken out specifically for acquisition or construction of qualifying assets, which arecapitalised as part of the cost of those assets. Non-monetary items denominated in foreign currencies that aremeasured at historical costs are translated at the balance sheet date using the spot exchange rates at the date ofthe transactions. The effect of exchange rate changes on cash is presented separately in the cash flow statement.

11. Financial instruments

Financial instruments refer to contracts that form financial assets of one party and financial liabilities orequity instruments of other parties. When the Group becomes a party to a financial instrument contract, therelevant financial assets or financial liabilities are recognized.

(a) Financial assets

(i) Classification and measurement

According to the business model for managing financial assets and the contractual cash flowcharacteristics of financial assets, the Group classifies financial assets into: (1) Financial assets measured inamortized cost; (2) Financial assets measured at fair value, whose changes are included in other comprehensiveincome; (3) Financial assets measured at fair value and whose changes are included in current profits and losses.

The initial measurement of financial assets is calculated by using fair value. For financial assets measuredat fair value, whose changes are included in current profits and losses, relevant transaction costs are directlyincluded in current profits and losses; For other types of financial assets, relevant transaction costs are includedin the initial recognition amount. Accounts receivable or notes receivable arising from the sale of products orthe provision of labor services that do not include or take into account significant financing components areinitially recognized by the Group in accordance with the amount of consideration that the Group is expected tobe entitled to receive.

Debt instrument

Debt instruments held by the Group refer to instruments that meet the definition of financial liabilitiesfrom the perspective of the issuer and are measured in the following ways:

Measured in amortized cost:

The Group's business model for managing such financial assets is to collect the contractual cash flow, andthe contractual cash flow characteristics of such financial assets are consistent with the basic lendingarrangements, that is, the cash flow generated on a specific date is only the payment of principal and interest

based on the amount of outstanding principal. The Group recognizes interest income for such financial assetsaccording to the effective interest rate method. Such financial assets mainly include monetary funds, accountsreceivable, other receivables and long-term receivables. The Group lists long-term receivables due within oneyear (including one year) from the balance sheet date as non-current assets due within one year.Equity instrumentsThe Group will measure the equity instrument investments that it has no control, joint control andsignificant influence on at fair value, and their changes are included in the current profits and losses, and listedas trading financial assets.

In addition, the Group designated some non-trading equity instrument investments as financial assetsmeasured at fair value with changes included in other comprehensive income and listed them as other equityinstrument investments. Dividend income related to such financial assets is included in current profits andlosses.(ii) ImpairmentFor financial assets measured in amortized cost, the Group recognizes loss reserves on the basis ofexpected credit losses.The Group takes into account reasonable and reliable information on historical events, current situationand future economic situation forecasts, and uses the risk of default as the weight to calculate the probabilityweighted amount of the present value of the difference between the cash flow receivable from the contract andthe cash flow expected to be received to confirm the expected credit loss.On each balance sheet date, the Group separately measures the expected credit losses of financialinstruments at different stages. If the credit risk of financial instruments has not increased significantly sincethe initial confirmation, it is in the first stage. The Group measures the loss reserve according to the expectedcredit loss in the next 12 months; If the credit risk of a financial instrument has increased significantly since itsinitial recognition but no credit impairment has occurred, it is in the second stage. The Group measures the lossreserve according to the expected credit loss of the instrument throughout the duration; If a financial instrumenthas suffered credit impairment since its initial recognition, it is in the third stage. The Group measures the lossreserve according to the expected credit loss of the instrument throughout the duration.For financial instruments with low credit risk on the balance sheet date, the Group assumes that theircredit risk has not increased significantly since the initial confirmation, and measures the loss reserve accordingto the expected credit loss in the next 12 months.For financial instruments in the first and second stages and with low credit risk, the Group calculatesinterest income based on the book balance before deducting impairment provisions and the actual interest rate.For financial instruments in the third stage, the interest income shall be calculated according to their bookbalance minus the amortized cost after impairment provision and the actual interest rate.For accounts receivable, regardless of whether there is any significant financing component, the Groupmeasures the loss reserve according to the expected credit loss throughout the duration.

When a single financial asset cannot evaluate the expected credit loss information at a reasonable cost, theGroup divides the receivables into several combinations according to the credit risk characteristics, calculatesthe expected credit loss on the basis of the combinations, and determines the combination on the followingbasis:

Group 1 of notes receivables Notes receivables

Group 1 of accounts receivables Receivables from sale of electricity

Group 2 of accounts receivables Receivables from renewable energy subsidies

Group 3 of accounts receivables Receivables from related partiesGroup 1 of contract assets Receivables from related partiesGroup 2 of contract assets Other contract assetsGroup 1 of other receivables Receivables from business units, reserves receivable and other receivables.For accounts receivables that are classified into groups, the Group calculates ECL with reference to thehistorical credit loss experience, the current situation and the forecast of future economic conditions, and basedon the exposure at default and the lifetime ECL rates. For other receivables that are classified into groups, theGroup calculates the ECL with reference to historical credit loss experience, current conditions and forecasts offuture economic conditions, and based on the exposure at default and the 12-month or lifetime ECL rates.The Group includes the accrued or reversed loss reserves into the current profits and losses.（iii） Derecognition of financial assetsA financial asset is derecognised when: (i) the contractual rights to the cash flows from the financial assetexpire, (ii) the financial asset has been transferred and the Group transfers substantially all the risks andrewards of ownership of the financial asset to the transferee, or (iii) the financial asset has been transferred andthe Group has not retained control of the financial asset, although the Group neither transfers nor retainssubstantially all the risks and rewards of ownership of the financial asset.When the investment in other equity instruments is derecognized, the difference between the book valueand the consideration received and the accumulated amount of the changes in fair value originally included inother comprehensive income shall be included in the retained income; On derecognition of a financial asset, thedifference between the carrying amount and the sum of the consideration received and the cumulative changesin fair value that had been recognised directly in owners’ equity, is recognised in profit or loss.(b) Financial liabilitiesFinancial liabilities are classified into the following categories at initial recognition: financial liabilities atfair value through profit or loss and other financial liabilities.The financial liabilities of the Group are other comprise financial liabilities, including payables,borrowings and debentures payable. This kind of financial liabilities are initially measured according to theirfair value after deducting transaction costs, and are subsequently measured using the effective interest ratemethod. If the term is less than one year (including one year), it shall be listed as current liabilities; If the termis more than one year but expires within one year (including one year) from the balance sheet date, it shall belisted as non-current liabilities due within one year; The rest is listed as non-current liabilities.When the current obligation of the financial liability has been discharged in whole or in part, the Groupterminates the recognition of the part of the financial liability or obligation that has been discharged. Thedifference between the book value of the termination recognition and the consideration paid shall be includedin the profit and loss of the current period.

(c) Determination of the fair value of the financial instrumentsThe fair value of a financial instrument that is traded in an active market is determined at the quoted pricein the active market. The fair value of a financial instrument that is not traded in an active market is determinedby using a valuation technique. Valuation techniques include using prices of recent market transactionsbetween knowledgeable and willing parties, reference to the current fair value of another financial asset that issubstantially the same with this instrument, and discounted cash flow analysis, etc. When a valuation techniqueis used to establish the fair value of a financial instrument, it makes the maximum use of observable marketinputs and relies as little as possible on entity-specific inputs. When the observable inputs are not available orare unrealistic to obtained, unobservable inputs shall be used

12.Note receivable

See Note V (11) Financial Instruments for details.

13.Account receivable

See Note V (11) Financial Instruments for details.

14.Financing receivable

Not applicable

15.Other account receivable

Determination method of expected credit loss of other receivables and accounting treatment methodSee Note V (11) Financial Instruments for details.

16.Contract assets

See Note V (11) Financial Instruments for details.

17. Inventories

(a) ClassificationInventories include fuel and spare parts measured at the lower of cost and net realisable value..(b) Cost of inventories transferred outCost of fuel transferred out is calculated using the weighted average method. Spare parts are amortised infull when received for use.(c) Basis for determining the net realisable value of inventories and provisioning methods for decline invalue of inventoriesAny excess of the cost over the net realisable value of inventories is recognised as a provision fordiminution in the value of inventories. Net realisable value is measured by the estimated selling price in theordinary course of business less the estimated costs necessary to make the sale and relevant taxes.

(d) The Group maintains a perpetual inventory system..(e) Amortization methods of low-value consumablesLow-value consumables are amortized in full amount.

18.Held-for-sale assets

Not applicable

19.Creditor's rights investment

Not applicable

20.Other Creditor's rights investment

Not applicable

21.Long-term account receivable

See Note V (11) Financial Instruments for details.

22. Long-term equity investment

Long-term equity investments comprise the Company’s long-term equity investments in its subsidiariesand the Group’s long-term equity investments in its associates.Subsidiaries are the investees over which the Company is able to exercise control. Associates are theinvestees over which the Group has significant influence, but not control, on their financial and operatingpolicies.

Investments in subsidiaries are presented in the Company’s financial statements using the cost method,and are adjusted to the equity method when preparing the consolidated financial statements. Investments inassociates are accounted for using the equity method.

(a) Determination of investment cost

For long-term equity investments acquired through a business combination: for long-term equityinvestments acquired through a business combination involving enterprises under common control, theinvestment cost shall be the absorbing party’s share of the carrying amount of owners’ equity of the party beingabsorbed at the combination date; for long-term equity investment acquired through a business combinationinvolving enterprises not under common control, the investment cost shall be the combination cost. For long-term equity investments acquired not through a business combination: if the long-term equity investments areacquired in cash, the initial investment cost shall be the purchase price actually paid; if the long-term equityinvestments are acquired by issuing equity securities, the initial investment cost shall be the fair value of theequity securities.

(b) Subsequent measurement and recognition of related profit and loss

For long-term equity investments accounted for using the cost method, they are measured at the initialinvestment costs, and cash dividends or profit distribution declared by the investees are recognised asinvestment income in profit or loss.

For long-term equity investments accounted for using the equity method, where the initial investment costexceeds the Group’s share of the fair value of the investee’s identifiable net assets at the time of acquisition, theinvestment is initially measured at cost. Where the initial investment cost is less than the Group’s share of thefair value of the investee’s identifiable net assets at the time of acquisition, the difference is included in profitor loss for the current period and the cost of the long-term equity investment is adjusted accordingly.

For long-term equity investments accounted for using the equity method, the Group recognises theinvestment income or losses according to its share of net profit or loss of the investee. The Group discontinuesrecognising its share of net losses of an investee after the carrying amount of the long-term equity investmenttogether with any long-term interests that, in substance, form part of the investor’s net investment in theinvestee are reduced to zero. However, if the Group has obligations for additional losses and the criteria withrespect to recognition of provisions under the accounting standards on contingencies are satisfied, the Groupcontinues recognising the investment losses and the provisions. The Company shall adjust the carrying amountof the long term investment for other changes in shareholders’ equity of the investee (other than net profits orlosses), and include the corresponding adjustment in shareholders’ equity. The carrying amount of theinvestment is reduced by the Group’s share of the profit distribution or cash dividends declared by an investee.The unrealised profits or losses arising from the intra-group transactions amongst the Group and its investeesare eliminated in proportion to the Group’s equity interest in the investees, and then based on which theinvestment gains or losses are recognised. For the loss on the intra-group transaction amongst the Group and itsinvestees attributable to asset impairment, any unrealised loss is not eliminated.

(c) Basis for determining existence of control and significant influence over investees

Control is the power to govern the investee so as to obtain variable returns by participating in the related

business activities of the investees and the ability to affect the returns by exercising its power over the investees.Joint control is the contractually agreed sharing of control over an investee’s economic activities, andexists only when the strategic financial and operating decisions relating to the activities require the unanimousconsent of the Group and the parties sharing the control.Significant influence is the power to participate in the financial and operating policy decisions of theinvestee, but is not control or joint control over those policies.(d) Impairment of long-term equity investThe carrying amount of long-term equity investments in subsidiaries, joint venture, and associates isreduced to the recoverable amount when the recoverable amount is less than the carrying amount（Note 5(30).

23. Investment properties

The measurement mode of investment propertyThe measurement by the cost methodDepreciation or amortization methodInvestment properties, including land use rights that have already been leased out and buildings that areheld for the purpose of leasing are measured initially at cost. Subsequent expenditures incurred in relation to aninvestment properties are included in the cost of the investment property when it is probable that the associatedeconomic benefits will flow to the Group and their costs can be reliably measured; otherwise, the expendituresare recognised in profit or loss in the period in which they are incurred.The Group adopts the cost model for subsequent measurement of investment properties. Buildings andland use rights are depreciated or amortized to their estimated net residual values over their estimated usefullives. The estimated useful lives, the estimated net residual values that are expressed as a percentage of costand the annual depreciation (amortization) rates of investment properties are as follows:

CategoryEstimated useful livesEstimated net residual valueAnnual depreciation rates
House and Building20-40 years0% to 5%2.38% to 4.75%
Land use right50-60 years0%1.67% to 2%

The investment property’s estimated useful life, net residual value and depreciation (amortisation) methodapplied are reviewed and adjusted as appropriate at each year-end.

When an investment property is transferred to owner-occupied properties, it is reclassified as fixed asset atthe date of the transfer. The carrying amount of the fixed asset shall be measured on the basis of fair value ofthe investment property.

An investment property is derecognised on disposal or when the investment property is permanentlywithdrawn from use and no future economic benefits are expected from its disposal. The net amount ofproceeds from sale, transfer, retirement or damage of an investment property after its carrying amount andrelated taxes and expenses is recognised in profit or loss for the current period.

The carrying amount of an investment property is reduced to the recoverable amount if the recoverableamount is below the carrying amount (Note V(30)).

24. Fixed assets

（1）Recognition of fixed assets

Fixed assets comprise plant and building, power generator equipment, motor vehicles and other equipment.Fixed asset is recognised when it is probable that the related economic benefits will flow to the Group and its

cost can be reliably measured. Fixed assets purchased or constructed by the Group are initially measured at costat the acquisition date. The fixed assets injected by the state-owned shareholder during the restructuring ofcorporation were initially recorded at the valuated amount approved by the relevant authorities managing state-owned assets. Subsequent expenditures incurred for a fixed asset are included in the cost of the fixed asset whenit is probable that the economic benefits associated with the fixed asset will flow to the Group and the costs canbe reliably measured. The carrying amount of those parts that are replaced is derecognised and all the othersubsequent expenditures are recognised in income statement when they are incurred.

（2）Depreciation of fixed assets

CategoryThe method for depreciationExpected useful life（Year）Estimated residual valueDepreciation
House and buildingStraight-line method10 to 50 years0% to 5%1.90% to 9.50%
Generation equipmentStraight-line method5 to 30 years0% to5%3.17% to 20%
Transportation equipmentStraight-line method5 to 10 years0% to5%9.50% to 20%
Other equipmentStraight-line method5 to 22 years0% to 5%4.32% to20%

Except for fixed assets purchased using work safety funds, other fixed assets are depreciated using thestraight-line method to allocate the cost of the assets to their estimated net residual values over their estimateduseful lives. For the fixed assets that have been provided for impairment loss, the related depreciation charge isprospectively determined based upon the adjusted carrying amounts over their remaining useful lives.Fixed assets are depreciated using the straight-line method to allocate the cost of the assets to theirestimated net residual values over their estimated useful lives. For the fixed assets that have been provided forimpairment loss, the related depreciation charge is prospectively determined based upon the adjusted carryingamounts over their remaining useful lives.The estimated useful life and the estimated net residual value of a fixed asset and the depreciation methodapplied to the asset are reviewed, and adjusted as appropriate at each year-end.

(a) The carrying amounts of fixed assets are reduced to the recoverable amounts when the recoverableamounts are below their carrying amounts (Note V(30)).

A fixed asset is derecognised on disposal or when no future economic benefits are expected from its use ordisposal. The amount of proceeds from disposals on sale, transfer, retirement or damage of a fixed asset net ofits carrying amount and related taxes and expenses is recognised in profit or loss for the current period.

25.Construction in progress

Construction in progress is measured at its actual costs incurred. Actual costs include construction cost,installation cost, capitalised borrowing costs, and any other costs directly attributable to bringing the asset toworking condition for its intended use. When the construction in progress is ready for its intended use, it istransferred to fixed assets and starts depreciation the following month. When recoverable amount of theconstruction in progress is lower than its carrying value, its carrying value is then reduced to the recoverableamount（Note V(30)).

26.Borrowing costs

The borrowing costs that are directly attributable to the acquisition and construction of a fixed asset that

needs a substantially long period of time of acquisition and construction for its intended use commence to becapitalized and recorded as part of the cost of the asset when expenditures for the asset and borrowing costshave been incurred, and the activities relating to the acquisition and construction that are necessary to preparethe asset for its intended use have commenced. The capitalization of borrowing costs ceases when the assetunder acquisition or construction becomes ready for its intended use, the borrowing costs incurred thereafterare recognised in income statement. Capitalization of borrowing costs is suspended when the acquisition orconstruction of a fixed asset is interrupted abnormally and the interruption lasts for more than 3 months, untilthe acquisition or construction is resumed.For the specific borrowings obtained for the acquisition or construction of a fixed asset qualifying forcapitalization, the amount of borrowing costs eligible for capitalization is determined by deducting any interestincome earned from depositing the unused specific borrowings in the banks or any investment income arisingon the temporary investment of those borrowings during the capitalization period.For the general borrowings obtained for the acquisition or construction of a fixed asset qualifying forcapitalization, the amount of borrowing costs eligible for capitalization is determined by applying the weightedaverage effective interest rate of general borrowings, to the weighted average of the excess amount ofcumulative expenditures on the asset over the amount of specific borrowings. The effective interest rate is therate at which the estimated future cash flows during the period of expected duration of the borrowings orapplicable shorter period are discounted to the initial amount of the borrowings.

27.Biological Assets

Not applicabl

28.Oil & Gas assets

Not applicable

29. Right to use assets

（1） Service life and its determination basis, estimation, amortization method or review procedureIntangible assets mainly including land use rights, sea use rights, software, associated projects forelectricity transmission and transformation, microwave engineering and transportation engineering aremeasured at cost. Intangible assets contributed by the state-owned shareholders at the incorporation of a limitedcompany are initially recorded at the valuation amount recognised by the state-owned assets supervision andadministration department.

(a) Land use right and sea use rightLand use rights are amortized on a straight-line basis over their approved period of 20 to 70 years. If thepurchase costs of land and attached buildings cannot be reasonably allocated between the land use right and thebuildings, the purchase costs are recognised as fixed assets.(b) Other intangible assetsBesides land use right, sea use right, associated projects for electricity transmission and transformation,microwave engineering and transportation engineering, other intangible assets are amortized on a straight-linebasis over their expected life of 2 years to 60 years.

(c) Periodic review on useful life and method of amortizationFor intangible assets with finite useful life, their expected life and amortization method are reviewed andadjusted at the end of every year.

(d) Impairment of intangible assetsThe carrying amount of intangible assets is reduced to the recoverable amount when the recoverableamount is less than the carrying amount (Note V (30)).

（2）Collection scope of R&D expenditure and related accounting treatment methods

The expenditure on an internal research and development project is classified into expenditure on theresearch phase and expenditure on the development phase based on its nature and whether there is materialuncertainty that the research and development activities can form an intangible asset at the end of the project.

Expenditure on the research phase is recognised in profit or loss in the period in which it is incurred.Expenditure on the development phase is capitalized only if all of the following conditions are satisfied:

management intends to complete the intangible asset, and use or sell it;

it can be demonstrated how the intangible asset will generate economic benefits: products with theapplication of intangible assets or the intangible assets themselves can prove to have market value, intangibleassets for internal use application can prove to be of usefulness;

there are adequate technical, financial and other resources to complete the development and the ability touse or sell the intangible asset;

it is technically feasible to complete the intangible asset so that it will be available for use or sale; and

the expenditure attributable to the intangible asset during its development phase can be reliably measured.

Other development expenditures that do not meet the conditions above are recognised in profit or loss inthe period in which they are incurred. Development costs previously recognised as expenses are not recognisedas an asset in a subsequent period. Capitalized expenditure on the development phase is presented asdevelopment costs in the balance sheet and transferred to intangible assets at the date that the asset is ready forits intended use.

30. Impairment of long-term assets

Fixed assets, construction in progress, intangible assets with finite useful lives, investment propertymeasured at cost and long-term equity investments in subsidiaries, joint venture, and associates are tested forimpairment if there is any indication that an asset may be impaired at the balance date. If the result of theimpairment test indicates that the recoverable amount of the asset is less than its carrying amount, a provisionfor impairment and an impairment loss are recognised for the amount by which the asset’s carrying amountexceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to selland the present value of the future cash flows expected to be derived from the asset. A provision for assetimpairment is determined and recognised on an individual asset basis. If it is not possible to estimate therecoverable amount of an individual asset, the recoverable amount of the group of assets to which the assetbelongs is determined. A group of assets is the smallest group of assets that is able to generate independentcash inflows.

Goodwill that is separately presented in the financial statements is tested at least annually for impairment,irrespective of whether there is any indication that it may be impaired. In conducting the test, the carrying valueof goodwill is allocated to the related asset group or groups of asset groups which are expected to benefit fromthe synergies of the business combination. If the result of the test indicates that the recoverable amount of anasset group or a group of asset groups, including the allocated goodwill, is lower than its carrying amount, thecorresponding impairment loss is recognised. The impairment loss is first deducted from the carrying amountof goodwill that is allocated to the asset group or group of asset groups, and then deducted from the carrying

amounts of other assets within the asset group or group of asset groups in proportion to the carrying amounts ofassets other than goodwill.Once the asset impairment loss mentioned above is recognised, it is not allowed to be reversed for thevalue recovered in the subsequent periods.

31.Long-term deferred expenses

Long-term prepaid expenses include the expenditure for improvements to fixed assets held underoperating leases, and other expenditures that have been incurred but should be recognised as expenses overmore than one year in the current and subsequent periods. Long-term prepaid expenses are amortized on thestraight-line basis over the expected beneficial period and are presented at actual expenditure net ofaccumulated amortization.

32.Constract Liabilities

See Note V (37) Revenue for details.

33. Employee benefits

(1) Short-term employee benefits

Short-term remunerations mainly include wages or salaries, bonuses, allowances and subsidies, staffwelfare, medical insurance, work injury insurance, maternity insurance, housing funds, labour union funds,employee education funds, short-term paid absence. Short-term remunerations are recognised as currentliabilities in the accounting period in which the service has been rendered by the employees, and as costs ofassets or expenses to whichever the employee service is attributable. Non-monetary benefits are measured atfair value.

（2）Post –employment benefits

The Company’s post-employment benefits scheme includes both Defined Contribution Plan (DCP) andDefined Benefit Plan (DBP). A DCP is a pension plan under which the Company pays fixed contributions intoa separate entity and has no legal or constructive obligations to pay further contributions if the fund does nothold sufficient assets to pay all employees the benefits relating to employee service in the current and priorperiods. A DBP is a pension plan that is not a defined contribution plan. During the periods of reporting, theCompany’s post-employment benefits scheme mainly includes basic pension insurance and unemploymentinsurances, both of which are DCP.

Basic pension insurance

Employees of the Group have entered into the social pension insurance scheme organized by local labourand social security department. The Group pays basic pension insurances to local labour and social securitydepartment monthly according to local insurance base and corresponding rate. Local labour and social securitydepartment is obligated to pay basic pensions to retired employees.

Supplementary pension insurance

The company purchases supplementary pension insurance on behalf of employees, and pays pensioninsurances according to the policies of Energy Group. The amounts based on the above calculations arerecognised as liabilities in the accounting period in which the service has been rendered by the employees, witha corresponding charge to the profit or loss for the current period or the cost of relevant assets.

Defined benefit plan

For defined benefit plan, the Group used the projected unit credit method and includes the obligation ofthe defined benefit plan in the accounting period in which the service has been rendered by the employees, with

a corresponding charge to the profit or loss for the period. The cost of employee benefits arising from definedbenefit plans are classified into the following parts:

— service cost (including current service cost as well as gains and losses on curtailments andsettlements);— net interest expenses on net liabilities of the defined benefit plan (including interest expenses forobligations of the defined benefit plan); and— Changes arising from remeasurement on net liabilities of defined benefit plansService cost and net interest expenses on net liabilities of defined benefit plans are included in profit orloss for the current period. Changes arising from remeasurement on net liabilities of defined benefit plans(including actuarial gains or losses) are included in other comprehensive income.

(3) Termination benefits

The Group provides compensation for terminating the employment relationship with employees before theend of the employment contracts or as an offer to encourage employees to accept voluntary redundancy beforethe end of the employment contracts. The Group recognises a liability arising from compensation fortermination of the employment relationship with employees, with a corresponding charge to profit or loss at theearlier of the following dates: 1) when the Group cannot unilaterally withdraw the offer of termination benefitsbecause of an employment termination plan or a curtailment proposal; 2) when the Group recognises costs orexpenses related to the restructuring that involves the payment of termination benefits.

(4) Other long-term employee benefits

Early retirement benefits

The Group provides early retirement benefits for employees who enrolled in internal retirementarrangement. Early retirement benefits refer to wages and social benefit paid by the Group on behalf of theemployees who have not meet retirement age requirement but voluntarily retire after permission from theGroup’s management level. The Group starts paying early retirement benefits to early retired employees fromthe start date of their early retirement until they reach the statutory retirement age. For the accounting treatmentof early retirement benefits, the Group adopts the same method as termination benefits, that is, upon confirmingthe termination benefits comply with relevant conditions, proposed payment of early retirement wages. andsocial security from the start date of termination of services to the date of statutory retirement age arerecognised as liability and recorded into profit and loss at lump sum. The discrepancy caused by change inactuarial assumption and adjustment of welfare standard is recorded into current profit or loss.

34. Estimated Liabilities

Provisions for product warranties, onerous contracts etc. are recognised when the Group has a presentobligation, it is probable that an outflow of economic benefits will be required to settle the obligation, and theamount of the obligation can be measured reliably.

A provision is initially measured at the best estimate of the expenditure required to settle the relatedpresent obligation. Factors surrounding a contingency, such as the risks, uncertainties and the time value ofmoney, are taken into account as a whole in reaching the best estimate of a provision. Where the effect of thetime value of money is material, the best estimate is determined by discounting the related future cash outflows.The increase in the discounted amount of the provision arising from passage of time is recognised as interestexpense.

The carrying amount of provisions is reviewed at each balance sheet date and adjusted to reflect the

current best estimate.

The Group recognises the loss provision of financial guarantee contracts which provision is based on ECL.The provisions expected to be settled within one year since the balance sheet date are classified ascurrent liabilities.

35. Share payment

Not applicable

36. Other financial instruments such as preferred stocks and perpetual bondsNot applicable

37. Revenue

Accounting policies adopted for income recognition and measurementWhen the customer obtains the control of the relevant goods or services, the Group recognizes the incomeaccording to the expected amount of consideration that it is entitled to receive.(a) Revenue from sales of electricity and heat energyRevenue is recognised when electricity and heat energy are supplied to grid companies or customers, andgrid companies or customers obtain control over electricity.(b) Revenue from sales of by-productsRevenue from the sales of goods is recognised when the Group transfers by-products (such as coal ash)produced by electricity generations to the designated delivery place pursuant to the contract or agreement, therecipient resource utilisation confirms receipt and they obtain control over the by-products.

(c) Provision of electric power transaction service For the electric power transaction service provided bythe Group to external parties, upon the receiving of the service, revenue is recognised based on the differencebetween the purchase price and the selling price of electricity.(d) Rendering of servicesThe Group provides maintenance services to external parties. The related revenue is recognised based onthe stage of completion within a certain period, which is determined based on proportion of costs incurred todate to the estimated total costs. On the balance sheet date, the Group re-estimates the stage of completion toreflect the actual status of contract performance.When the Group recognises revenue based on the stage of completion, the amount with unconditionalcollection right obtained by the Group is recognised as accounts receivable, and the rest is recognised ascontract assets. Meanwhile, loss provision for accounts receivable and contract assets are recognised on thebasis of ECLs (Note V(10)). If the contract price received or receivable exceeds the amount for the completedservice, the excess portion will be recognised as contract liabilities.Contract assets and contract liabilities under the same contract are presented on a net basis. Contractcosts include contract performance costs and contract acquisition costs. The costs incurred by the Group for therendering of maintenance services are recognised as contract performance costs and are carried forward to thecost of main operations based on the stage of completion when associated revenue is recognised.The Group provides external maintenance service, revenue is recognised according to the percentagecompletion method, determined by percentage of the total cost incurred.The adoption of different business models in similar businesses leads to differences in accounting policiesfor income recognition

38.Contract costs

Contract costs include incremental costs incurred to obtain the contract and contract performance costs.The incremental costs incurred to obtain the contract refer to the costs that the Group would not haveincurred without obtaining the contract (such as sales commissions). If the cost is expected to be recovered,the Group will recognize it as the contract acquisition cost and an asset. Other expenses incurred by theGroup in order to obtain the contract, except the incremental costs that are expected to be recovered, areincluded in the current profits and losses when incurred.If the cost incurred for the performance of the contract does not fall within the scope of otheraccounting standards for business enterprises such as inventory and meets the following requirements at thesame time, the Group will recognize it as a contract performance cost and thus as an asset:

① The cost is directly related to a current or expected contract, including direct labor, direct materials,manufacturing expenses (or similar expenses), costs explicitly borne by customers and other costs incurredonly due to the contract;

② The cost increases the Group's resources for performing and fulfilling its obligations in the future;

③ The cost is expected to be recovered.

Assets related to contract acquisition cost recognition and assets related to contract performance costrecognition (hereinafter referred to as "assets related to contract cost") are amortized on the same basis as therecognition of revenue from goods or services related to such assets and included in the current profits andlosses.

When the book value of the assets related to the contract cost is higher than the difference between thefollowing two items, the Group will make provision for impairment of the excess and recognize it as an assetimpairment loss:

① The remaining consideration expected to be obtained by the Group due to the transfer of goods orservices related to the asset;

② The estimated costs to be incurred for the transfer of the related goods or services.

For the contract performance cost recognized as an asset, if the amortization period does not exceed oneyear or a normal operating cycle at the time of initial recognition, it will be listed in "Inventory"; If theamortization period exceeds one year or a normal operating cycle at the time of initial recognition, it will belisted in "Other non-current assets".

For the contract acquisition cost recognized as an asset, if the amortization period does not exceed oneyear or a normal operating cycle at the time of initial recognition, it will be listed in "Other current assets";If the amortization period exceeds one year or a normal operating cycle at the time of initial recognition, itwill be listed in "Other non-current assets".

39.Government grants

Government grants refer to the monetary or non-monetary assets obtained by the Group from thegovernment, including tax return, financial subsidy and etc. Government grants are recognised when the grantscan be received and the Group can comply with all attached conditions. If a government grant is a monetaryasset, it will be measured at the amount received or receivable. If a government grant is a non-monetary asset, itwill be measured at its fair value. If it is unable to obtain its fair value reliably, it will be measured at itsnominal amount. Government grants related to assets refer to government grants which are obtained by theGroup for the purposes of purchase, construction or acquisition of the long-term assets. Government grantsrelated to income refer to the government grants other than those related to assets. Government grants related toassets are recorded as deferred income and recognised in profit or loss on a systemic basis over the useful lives

of the assets. Government grants related to income that compensate the incurred costs, expenses or losses arerecognised in profit or loss. Government grants related to income that compensate future costs, expenses orlosses are recorded as deferred income and recognised in profit or loss in reporting the related costs, expensesor losses; government grants related to income that compensate incurred costs, expenses or losses arerecognised in profit or loss directly in the current period.The Group applies the presentation method consistently to the similar government grants in the financial statements.

Government grants that are related to ordinary activities are included in operating profit, otherwise, they are recorded innon-operating income or expenses.

40. Deferred income tax assets/Deferred income tax liability

Deferred tax assets and deferred tax liabilities are calculated and recognised based on the differencesarising between the tax bases of assets and liabilities and their carrying amounts (temporary differences).Deferred tax asset is recognised for the deductible losses that can be carried forward to subsequent years fordeduction of the taxable profit in accordance with the tax laws. No deferred tax liabilities is recognised for thetemporary differences resulting from the initial recognition of Goodwill. No deferred tax asset or deferred taxliability is recognised for the temporary differences resulting from the initial recognition of assets or liabilitiesdue to a transaction other than a business combination, which affects neither accounting profit nor taxableprofit (or deductible loss). At the balance sheet date, deferred tax assets and deferred tax liabilities aremeasured at the tax rates that are expected to apply to the period when the asset is realised or the liability issettled.

Deferred tax assets are only recognised for deductible temporary differences, deductible losses and taxcredits to the extent that it is probable that taxable profit will be available in the future against which thedeductible temporary differences, deductible losses and tax credits can be utilised.

Deferred tax liabilities are recognised for temporary differences arising from investments in subsidiaries,joint venture, and associates, except where the Group is able to control the timing of reversal of the temporarydifference, and it is probable that the temporary difference will not reverse in the foreseeable future. When it isprobable that the temporary differences arising from investments in subsidiaries and associates will be reversedin the foreseeable future and that the taxable profit will be available in the future against which the temporarydifferences can be utilised, the corresponding deferred tax assets are recognised.

Deferred tax assets and liabilities are offset when:

the deferred taxes are relate to the same tax payer within the Group and same fiscal authority, and;

that tax payer has a legally enforceable right to offset current tax assets against current tax liabilities.

41. Leases

(1) The Group as the lessee

At the lease commencement date, the Group recognises the right-of-use asset and measures the lease liability atthe present value of the lease payments that are not paid at that date. Lease payments include fixed payments,the exercise price of a purchase option or termination penalty if the lessee is reasonably certain to exercise thatoption etc. Variable lease payments in proportion to sales are excluded from lease payments and recognised inprofit or loss as incurred. Lease liabilities that are due within one year (inclusive) as from the balance sheetdate are included in the current portion of non-current liabilities.

Right-of-use assets of the Group comprise leased land use rights, buildings, machinery and equipment, andmotor vehicles. Right-of-use assets are measured initially at cost which comprises the amount of the initial

measurement of lease liabilities, any lease payments made at or before the commencement date and any initialdirect costs, less any lease incentives received. If there is reasonable certainty that the Group will obtainownership of the underlying asset by the end of the lease term, the asset is depreciated over its remaining usefullife; otherwise, the asset is depreciated over the shorter of the lease term and its remaining useful life. Thecarrying amount of the right-of-use asset is reduced to the recoverable amount when the recoverable amount isbelow the carrying amount.

For short-term leases with a term of 12 months or less and leases of an individual asset (when new) of lowvalue, the Group chooses to include the lease payments in the cost of the underlying assets or in the profit orloss for the current period on a straight-line basis over the lease term, instead of recognising right-of-use assetsand lease liabilities.The Group accounts for a lease modification as a separate lease if both: (1) the modification increases thescope of the lease by adding the right to use one or more underlying assets; (2) the consideration for the leaseincreases by an amount commensurate with the stand-alone price for the increase in scope and any appropriateadjustments to that stand-alone price to reflect the circumstances of the contract.For a lease modification that is not accounted for as a separate lease, the Group redetermines the leaseterm at the effective date of the lease modification, and remeasures the lease liability by discounting the revisedlease payments using a revised discount rate, except that the contract changes directly resulting from situationsprescribed by the Ministry of Finance that may apply the practical expedient. For a lease modification whichdecreases the scope of the lease or shortens the lease term, the Group decreases the carrying amount of theright-of-use asset, and recognises in profit or loss any gain or loss relating to the partial or full termination ofthe lease. For other lease modifications which lead to the remeasurement of lease liabilities, the Groupcorrespondingly adjusts the carrying amount of the right-of-use asset.For the qualified rent concessions agreed on existing lease contracts, the Group applies the practicalexpedient and records the undiscounted concessions in profit or loss when the agreement is reached todischarge the original payment obligation with corresponding adjustment of lease liabilities.

（2）The Group as the lessor

A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental toownership of an underlying asset. An operating lease is a lease other than a finance lease.

Operating leases

Where the Group leases out self-owned buildings and land use rights under operating leases, rental incometherefrom is recognised on a straight-line basis over the lease term. Variable rental that is linked to a certainpercentage of sales is recognised in rental income as incurred.

For the qualified rent concessions agreed on existing lease contracts, the Group applies the practicalexpedient to account for the concessions as variable lease payments and record the concessions in profit or lossduring the waiving period

Except that the above changes in qualified contract which are accounted for by applying the practicalexpedient, for a lease modification, the Group accounts for it as a new lease from the effective date of themodification, and considers any lease payments received in advance and receivable relating to the lease beforemodification as receivables of the new lease

42. Other significant accounting policies and estimates

Work safety fundsSubsidiaries of the Group engaged in power generation business shall appropriate work safety funds basedon the actual revenue in the previous year and at the following percentages:

? 3% for the proportion of revenue up to RMB 10 million in the previous year;? 1.5% for the proportion of revenue between RMB 100 million and RMB 1 billion in the previous year;? 1% for the proportion of revenue between RMB 100 million and RMB 1 billion in previous year;? 0.8% for the proportion of revenue between RMB 1 billion and RMB 5 billion in the previous year;? 0.2% for the proportion of revenue exceeding RMB 10 billion in the previous year.Work safety funds are mainly used for the improvement, modification and maintenance of safetyprotection facilities, as well as safety production inspection, evaluation, consultation, standardised construction,etc. Work safety funds are recognised in profit or loss as the "Special reserve" item for the current period whenappropriated. When using the special reserve, if the expenditures are expenses in nature, the expenses incurredare offset against the special reserve directly when incurred. If the expenditures are capital expenditures, whenprojects are completed and transferred to fixed assets, the special reserve should be offset against the cost offixed assets, and a corresponding accumulated depreciation is recognised. Such fixed assets are not depreciatedin subsequent periods.Carbon emission use rightsCategorised as an Enterprise with High Emissions, the Group needs to fulfill its emission reductionobligations and recognise carbon emission related assets and expenditures per relevant regulations:

(i) The present obligations incurred by the Group in fulfilling its emission reduction obligations aremeasured at the best estimate of the expenditure required and recognised as other payables and non-operatingexpenses.(ii) The Group purchases carbon emission allowances and recognises related carbon emission rights assetsbased on the cost paid or payable at the acquisition date, and the balance is included in other current assets; theGroup makes no accounting treatment for carbon emission allowances purchased at nil consideration;(iii) The Group uses the purchased carbon emission allowances to fulfil its emission reductionobligations and recognises the book balance of the allowances used as a reduction of carbon emission rightsassets; the Group makes no accounting treatment if it uses carbon emission allowances purchased at nilconsideration to fulfil its obligations;(iv) The Group sells carbon emission allowances and recognises related non-operating income or non-operating expenses based on the difference between the amount received or receivable at the date of sale andthe book balance of the allowances soldSegment informationThe Group identifies operating segments based on the internal organisation structure, managementrequirements and internal reporting system, and discloses segment information of reportable segments which isdetermined on the basis of operating segments.An operating segment is a component of the Group that satisfies all of the following conditions: (a) thecomponent is able to earn revenue and incur expenses from its ordinary activities; (b) whose operating resultsare regularly reviewed by the Group’s management to make decisions about resources to be allocated to thesegment and to assess its performance, and (c) for which the information on financial position, operating resultsand cash flows is available to the Group. Two or more operating segments that have similar economiccharacteristics and satisfy certain conditions can be aggregated into one single operating segment.

Critical accounting estimates and judgementsThe Group continually evaluates the critical accounting estimates and key judgements applied based onhistorical experience and other factors, including expectations of future events that are believed to bereasonable under the circumstances.(a)Critical judgements in applying the accounting policies(i) Classification of financial assetsSignificant judgements made by the Group in the classification of financial assets include analysis onbusiness models and contractual cash flow characteristics.

The Group determines the business model for financial asset management at the level of different groups,and factors to be considered include the methods of evaluation on financial asset performance and reporting offinancial asset performance to key management personnel, risks affecting financial asset performance andmanagement methods for such risks, the ways in which related business management personnel areremunerated, etc.

When assessing whether contractual cash flow characteristics of financial assets are consistent with basiclending arrangement, key judgements made by the Group include: the possibility of changes in timing oramount of the principal during the duration due to reasons such as early repayment; whether interest onlyinclude time value of money, credit risks, other basic lending risks and considerations for costs and profits. Forexample, whether the amount of prepayment only reflects the principal outstanding and the interest based onthe principal outstanding, as well as the reasonable compensation due to the early termination of the contract.

(ii) Determination of significant increase in credit risk

When the Group classifies financial instruments into different stages, its criteria for significant increase incredit risk and credit-impaired are as follows:

Judgement of the Group for significant increase in credit risk is mainly based on whether one or more ofthe following indicators changed significantly: business environment of the debtor, internal and external creditrating, significant changes in actual or expected operating results, significant decrease in value of collateral orcredit rate of guarantor, etc.

Judgement of the Group on the occurred credit impairment is mainly based on whether it meets one ormore of the following conditions: the debtor is suffering significant financial difficulties, engaged in other debtrestructuring, or it is probable that the debtor will enter bankruptcy, etc.

(iii) Timing of revenue recognition

With regard to sale of electricity to grid companies, the Group supplies electricity to grid companies inaccordance with the contract. Thereafter, the grid companies have the right to sell electricity and the discretionin pricing, and take the risks of any price fluctuation or loss of the products. The Group believes that the gridcompanies obtain control over electric power upon the receiving of the electric power. Therefore, revenue isrecognised upon the receiving of the electric power of grid companies.

(b) Critical accounting estimates and key assumptions

(i) Assessment on impairment of fixed assets

A fixed asset is tested for impairment by the Group if there is any indication that it may be impaired at thebalance sheet date by calculating and comparing the recoverable amount of the fixed asset with its carryingamount to check the difference. If the result of the impairment test indicates that the recoverable amount of anasset is less than its carrying amount, a provision for impairment and an asset impairment loss are recognisedfor the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount

is the higher of an asset’s fair value less costs to sell and the present value of the future cash flows expected tobe derived from the asset. The determination of the recoverable amount involves accounting estimates.When assessing whether the above assets are impaired, management mainly evaluates and analyses: (i)whether events affecting asset impairment occurred; (ii) whether the present value of expected cash flowsarising from the continuing use or disposals of the asset is lower than its carrying amount; and (iii) whether thesignificant assumptions used in the calculation of the present value of the estimated cash flows are appropriateThe calculation of the present value of future cash flows involves management’s significant estimates andjudgements, including the discount rate, the growth rate of the estimated on-grid electricity price, the growthrate of the estimated electricity sale and the varability rate of the estimated price of coal used in powergeneration. Changes in these assumptions may have material impact on the present value used in theimpairment test, and cause impairment in the above-mentioned long-term assets of the Group(ii) Measurement of ECLThe Group calculates ECL through exposure at default and ECL rates, and determines the ECL rates basedon probability of default and loss given default. In determining the ECL rates, the Group uses data such asinternal historical credit loss experience, etc., and adjusts historical data based on current conditions andforward-looking information.

When considering forward-looking information, the Group considered different macroeconomic scenarios.Significant macroeconomic assumptions and parameters related to the estimation of ECL include the risk ofeconomic downturn, external market environment, technological environment, changes in customer conditions,Gross Domestic Product (“GDP”) and Consumer Price Index (“CPI”), etc. The Group regularly monitors andreviews assumptions and parameters related to the calculation of ECL(iii) Income taxes and deferred income taxesThe Group is subject to income taxes in numerous jurisdictions. There are some transactions and eventsfor which the ultimate tax determination is uncertain during the ordinary course of business. Significantjudgement is required from the Group in determining the provision for income tax in each of these jurisdictions.Where the final tax outcomes of these matters are different from the amounts that were initially recorded, suchdifferences will impact the income tax and deferred income tax provisions in the period in which suchdetermination is made.As stated in Note 6, some subsidiaries of the Group are high-tech enterprises. The high-tech enterprisecertificate is effective for three years. Upon expiration, application for high-tech enterprise identificationshould be submitted again to the relevant government authorities. Based on the historical experience ofreassessment for high-tech enterprise upon expiration and the actual condition of the subsidiaries, the Groupconsiders that the subsidiaries are able to obtain the qualification for high-tech enterprises in future years, andtherefore a preferential tax rate of 15% is used to calculate the corresponding deferred income tax. If somesubsidiaries cannot obtain the qualification for high-tech enterprise upon expiration, then the subsidiaries aresubject to a statutory tax rate of 25% for the calculation of the income tax, which further influences therecognised deferred tax assets, deferred tax liabilities and income tax expenses.

A deferred tax asset is recognised for the carryforward of unused deductible losses to the extent that it isprobable that future taxable profits will be available against which the deductible losses can be utilised. Futuretaxable profits include taxable profits that can be achieved through normal operations and the increase intaxable profits due to the reversal of taxable temporary differences arising from previous period in future period.The Group determines the future taxable profits based on the future financial forecast, which requiresmanagement’s significant estimates and judgements, including the estimated electricity sale, estimated on-grid

electricity price, the estimated price of coal used in power generation and other operating expenses. If there isany difference between the actual and the estimates, adjustment may be made to the carrying amount ofdeferred tax assets.

43.Change of main accounting policies and estimations

(1)Change of main accounting policies

?Applicable ?Not applicable

Unit：Yuan

The content and reason for the change in accounting policyName of the statement item that is materially affectedAmount affected
Accounting Standards for Business Enterprises Interpretation No. 17N/A0.00

Accounting Standards for Business Enterprises Interpretation No. 17In October 2023, the Ministry of Finance issued the Interpretation No. 17 of Accounting Standards for Business Enterprises(Cai Kuai [2023] No. 21) (hereinafter referred to as "Interpretation No. 17").Interpretation No. 17 stipulates that when classifying the liquidity of liabilities, the Group only considers whether the Grouphas a substantial right to defer the settlement of liabilities until more than one year after the balance sheet date (hereinafterreferred to as the "right to defer the liquidation of liabilities") at the balance sheet date, without considering whether the Grouphas the subjective possibility of exercising the above rights. In respect of liabilities arising from the Group's loan facilities, if theGroup's right to defer the settlement of the liabilities depends on whether the Group has complied with the conditions set out inthe loan arrangements (the "Contractual Conditions"), the Group will only consider the contractual conditions to be followed onor before the balance sheet date and not the impact of the contractual conditions to be followed by the Group after the BalanceSheet Date when classifying the liquidity of the relevant liabilities. For liabilities to be settled by the Group through the deliveryof its own equity instruments at the option of the counterparty, if the Group classifies the above options as equity instruments andrecognizes them separately as equity components of composite financial instruments in accordance with the provisions ofAccounting Standard for Business Enterprises No. 37 - Presentation of Financial Instruments, the liquidity allocation of suchliabilities will not be affected. Conversely, if the above options cannot be classified as equity instruments, the liquidity allocationof the liability will be affected.

(2) Change of main accounting estimations

□Applicable√ Not applicable

(3)The information of the adjusting items related to the financial statements at the beginning of the yearof first implementation due to the first implementation of new accounting standards from2024.Adjustment description

□Applicable√ Not applicable

44.Other

Not applicable

VI. Taxation

1. Main categories and rates of taxes

Class of taxTax basisTax rate
VAT

Taxable value-added amount (Taxpayable is calculated using the taxablesales amount multiplied by theapplicable tax rate less deductible VATinput of the current period) Revenuefrom hydropower sales

5%,6%,9% and 13%
Consumption taxNot applicable
City maintenance and construction taxAmount of VAT paid5% to 7%
Corporate income taxTaxable income12.5%,15%,20% and25%
Education surchargesAmount of VAT paid3%
Local education surchargesAmount of VAT paid2%
House property taxProperty’s rental income or the residual value from original value less the deducting proportion12%及1.2%
Environmental protection taxCalculated and paid based on the pollution equivalent values or the discharge of taxable pollutants multiplied by the applicable tax amountsCalculated and paid based on the applicable tax amounts of different pollutants

In case there exist any taxpayer paying corporate income tax at different tax rates, disclose the information

Name of taxpayerIncome tax rates
Guangdong Yuedian Zhanjiang Wind Power Co., Ltd.15%
Guangdong Yudean Zhanjiang Biomass Power Generation Co., Ltd.15%

2.Tax preferences

Pursuant to the approval documents (Cai Shui [2008] No. 46 and Guo Shui Fa [2009] No. 80), theCompany and several subsidiaries are approved to engage in wind power projects and photovoltaic projectssince 1 January 2008 and are exempted from enterprise income tax in the first three years counting from theyear when revenue from production and operations of those projects is recorded for the first time, and canenjoy half rate reduction in the following three years (“three-year exemptions and three-year halves”).Pursuant to the Supplementary Notice on Issues Concerning the Preferential Enterprise Income TaxPolicies for Public Infrastructure Projects (Cai Shui [2014] No. 55), enterprises invest and operate publicinfrastructure projects in compliance with the List of Public Infrastructure Projects Enjoying Enterprise IncomeTax Preferential, those which adopt one-off approval and are subject to construction in batches (such asterminals, berths, airport terminals, runways, sections, generator units, etc.) are subject to income tax calculatedin units of each batch and enjoy the tax preferential policy of “three-year exemptions and three-year halves”when the following conditions are satisfied: (i) different batches are space-independent; (ii) each batch has itsown revenue function; (iii) they are accounted for in units of each batch and are subject to income tax

individually, while the period expenses are allocated rationally. the Group’s subsidiary Guangdong GuangyeNanhua New Energy Co., Ltd.,Taishan Runze Jieyuan New Energy Co., Ltd., Xiangtan Xiangdian ChangshanWind Generation Co., Ltd., Dacheng Dunan New Energy Co., Ltd., Guangdong Shaoguan Yudean NewEnergy Co., Ltd., Guangdong Yudean Huibo New Energy Co., Ltd., Pingdu Lianyao New Energy TechnologyCo., Ltd., Lianjiang Yuefeng New Energy Co., Ltd., Guangdong Qujie Wind Generation Co., Ltd., TaishanDongrun Qingneng New Energy Co., Ltd., Laixi Telian New Energy Co., Ltd., Laixi Xinguangyao New EnergyCo., Ltd., Yudean Jianxiu Company ana Zhanjiang Potou Guidian Energy Technology Co., Ltd., are entitled tothe tax preferential policy of “three- year exemptions and three-year halves” respectively according to eachwind power project.

In 2022, Zhanjiang Wind Power and Guangdong Yudean Zhanjiang Biomass Power Generation Co., Ltd.(“Biomass Power Generation”), subsidiaries of the Group, were granted High-tech Enterprise Certificate(Certificate No. GR202244006758 and Certificate No. GR202244008597) by the Department of Science andTechnology of Guangdong Province, Department of Finance of Guangdong Province and GuangdongProvincial Office of the State Taxation Bureau on 22 December 2022. The certificates are valid for three years.Under Article 28 of the Enterprise Income Tax Law of the People’s Republic of China, the enterprise incometax rate applicable to Zhanjiang Wind Power and Biomass Power Generation in 2024 is 15%.In accordance with regulations of the Announcement of the Ministry of Finance and the State TaxationAdministration of Preferential Income Tax Policies for Micro and Small Enterprises and Individual Industrialand Commercial Households (STA Announcement [2023] No. 6), for a small enterprise with low profits, forthe part of the annual taxable income not exceeding RMB 1,000,000, the amount of taxable income is reducedto 25% of income and is subject to the enterprise income at the tax rate of 20%. The aforementioned small low-profit enterprise engages in industries not restricted or prohibited by the state and concurrently meet the threeconditions, that is, the annual taxable amount is not more than RMB 3,000,000, the number of its employees isnot more than 300, and their total assets do not exceed RMB 50,000,000. In the first half –year of 2024, someof the Company’s subsidiaries were entitled to the aforesaid preferential tax policy.Pursuant to the Notice on Issues Concerning the Implementation of the Preferential Catalogue ofEnterprise Income Tax for Integrated Utilisation of Resources (Cai Shui [2008] No. 47), since 1 January 2008,enterprises use the resources listed in the Preferential Catalogue of Enterprise Income Tax for IntegratedUtilisation of Resources (2008 Edition) as the main raw materials to produce products in the above cataloguethat meet national or industry related standards, and the income from above products is reduced to 90% of thetotal income of the enterprises for the year. The Group’s subsidiaries Zhanjiang Electric Co., Ltd. (“ZhanjiangElectric”) and Guangdong Huizhou Pinghai Power Plant Co., Ltd. (“Pinghai Power Plant”) use coal ash toproduce commercial coal ash, which meets the above-mentioned preferential tax conditions for integratedutilisation of resources. Therefore, in 2024, revenue from sale of coal ash from Zhanjiang Electric and Ping HaiPower Plant was reduced to 90% of the total income for the year.

Pursuant to the Notice on Issuing the Catalogue of Value-Added Tax Preferences for Products and LabourServices Involving the Comprehensive Utilisation of Resources (Cai Shui [2015] No. 78), VAT levied on self-produced products and services for comprehensive utilisation of resources will be refunded immediately, towhich Biomass Power Generation’s VAT after offsetting output VAT from revenue against input VAT fromcost of sale from main operations is entitled to. Biomass Power Generation is a subsidiary mainly engaged inpower generation using biomass materials.

In addition, 50% of VAT levied on the sale of electricity generated by taxpayers will be refundedimmediately in accordance with the Notice Concerning Value-added Tax Policies on Wind Power Generation

(Cai Shui [2015] No. 74). Some subsidiaries of the Company can enjoy the aforementioned tax incentive in2024.

Pursuant to the Circular of the Ministry of Finance and the State Taxation Administration on IssuesConcerning Implementing the Catalogue of Enterprise Income Tax Preference for Environmental ProtectionSpecial Equipment, the Catalogue of Enterprise Income Tax Preference for Energysaving and Water-savingSpecial Equipment and the Catalogue of Enterprise Income Tax Preference for Safe Production SpecialEquipment (Cai Shui [2008] No. 48), from 1 January 2008, enterprises that purchase and actually use theenvironmental protection, energy-saving, watersaving and safe production special equipment specified in theabove Catalogues can claim 10% of its capital investment in the special equipment against the enterpriseincome tax payable for the current year; the excess may be carried forward for a period of no more than 5 yearsif the enterprise income tax payable is insufficient for credit deduction in that year. Some subsidiaries of theCompany can enjoy the aforementioned tax incentive in 2024.

3.Other

Not applicableVII. Notes on major items in consolidated financial statements

1. Monetary funds

In RMB

ItemsClosing balanceOpening balance
Cash on hand58,09643,025
Cash at bank1,863,832,9072,182,419,734
Other cash balance26,993,33023,788,146
Deposit funds from the financial company14,220,610,42314,225,178,988
Total16,111,494,75616,431,429,893
Including：Total amount of money deposited abroad00

Other note

（a）As of June 30, 2024, the Group had no funds deposited overseas (December 31, 2023: None).

（b） As of June 30, 2024, Other monetary funds amounted to RMB26,993,330 (On December 31, 2023:

RMB23,788,146), which mainly are deposits such as ecological protection deposits and performance guaranteedeposits.

2. Transactional financial assets

Not applicable

3. Derivative financial assets

Not applicable

4. Notes receivable

(1) Notes receivable listed by category

In RMB

ItemsYear-end balanceYear-beginning balance
Bank acceptance0400,000
Trade acceptance01,089,433
Total01,489,433

（2）By accrual of bad debt provision

In RMB

CategoryAmount in year-endBalance Year-beginning
Book BalanceBad debt provisionBook valueBook BalanceBad debt provisionBook value
AmountProportion(%)AmountProportion(%)AmountProportion(%)AmountProportion(%)
Of which
Notes receivable for bad debt provision by portfolio1,489,433100%0%1,489,433
Of which
Note receivable1,489,433100%0%1,489,433
Total1,489,433100%0%1,489,433

Relevant information of the provision for bad debts will be disclosed with reference to the disclosuremethod of other receivables if the provision for bad debts of bills receivable is accrued according to the generalmodel of expected credit loss:

□ Applicable √ Not applicable

(3) Note receivable withdraw, reversed or collected during the reporting period

Not applicable

The withdrawal amount of the bad debt provision：

□ Applicable √ Not applicable

（4） Notes receivable pledged by the company at the end of the period

Not applicable

（5）Note receivable financing endorsed or discounted by the Company at the end of the period and notexpired yet on the date of balance sheetNot applicable

（6）The actual cancellation of notes receivable in the current periodNot applicable

5. Accounts receivable

(1) Accounts receivable disclosed by category

In RMB

AgingAmount in year-endBalance Year-beginning
Within 1 year （Including 1 year）6,407,900,3787,837,958,876
1-2 years1,170,292,120830,621,695
2-3 years408,457,638121,023,058
Over 3 year178,873,165200,382,525
3-4 years94,740,536189,379,564
4-5 years73,164,8848,356,811
Over 5 years10,967,7452,646,150
Total8,165,523,3018,989,986,154

（2） According to the bad debt provision method classification disclosure

In RMB

CategoryAmount in year-endBalance Year-beginning
Book BalanceBad debt provisionBook valueBook BalanceBad debt provisionBook value
AmountProportion(%)AmountProportion(%)AmountProportion(%)AmountProportion(%)
Of which
Accrual of bad debt provision by portfolio8,165,523,301100%32,557,4510.40%8,132,965,8508,989,986,154100%26,350,4760.29%8,963,635,678
Of which
Electricity sales receivable8,070,957,84698.85%31,676,9060.39%8,039,280,9408,872,384,97498.69%25,225,3480.28%8,847,159,626
Related party receivable33,762,4310.41%00%33,762,43131,436,5730.35%00%31,436,573
Steam sale and other receivable60,803,0240.74%880,5451.45%59,922,47986,164,6070.96%1,125,1281.31%85,039,479
Total8,165,523,301100%32,557,4510.40%8,132,965,8508,989,986,154100%26,350,4760.29%8,963,635,678

Accrual of bad debt provision by portfolio:：Electricity sales receivable

In RMB

NameClosing balance
Book balanceBad debt provisionProportion%
Electricity sales receivable8,070,957,84631,676,9060.39%
Total8,070,957,84631,676,906

Note：

Portfolio 1.As at 30 June 2024, the Group’s receivables from sale of electricity amounted to RMB8,070,957,846 (31 December 2023: RMB8,872,384,974), which mainly comprised receivables of RMB7,894,222,440 from China Southern Power Grid Co., Ltd. and its subsidiaries (collectively referred to as“China Southern Power Grid”) and RMB 176,735,406 from State Grid Corporation of China (“State Grid”) andits subsidiaries. Considering the favorable credit history of China Southern Power Grid and State Grid, theGroup held that there was no significant credit risk arising from receivables from sale of electricity. Since thepossibility of material losses due to the default by China Southern Power Grid and State Grid was extremelylow, the Group made no provision for the ECL of the receivables from sale of electricity (31 December 2023:

Nil)

For the receivables of renewable energy subsidies, the Group has made provision for bad debts based onthe expected credit loss model, the balance of which is RMB 31,676,906 as of June 30, 2024

Accrual of bad debt provision by portfolio: Related party receivable

In RMB

NameClosing balance
Book balanceBad debt provisionProportion%
Related party receivable33,762,43100%
Total33,762,4310

Note：

Portfolio 2：- Related party receivable：As at 30 June 2024, the amount of receivables from relatedparties of the Group was RMB26,312,165（December 31,2023:RMB31,436,573) , and the historical loss ratewas extremely low. Therefore, The Group believes that there is no significant credit risk in the receivables fromrelated parties, and the possibility of significant losses due to their default is extremely low. The Group'sexpected credit loss rate for receivables from related parties is 0%. （December 31,2023:0%).

Accrual of bad debt provision by portfolio: Steam sale and other receivable

In RMB

NameClosing balance
Book balanceBad debt provisionProportion%
Steam sale and other receivable60,803,024880,5451.45%
Total60,803,024880,545

Note：

Portfolio 3- For other fund receivable except Portfolio 1 and Portfolio 2, Bad provision according to theexpected credit loss mode

Relevant information of the provision for bad debts will be disclosed with reference to the disclosuremethod of other receivables if the provision for bad debts of bills receivable is accrued according to the generalmodel of expected credit loss:

□Applicable ?Not applicable

(3) Accounts receivable withdraw, reversed or collected during the reporting periodThe withdrawal amount of the bad debt provision：

In RMB

CategoryOpening balanceAmount of change in the current periodClosing balance
AccrualReversed or collected amountWrite-offOther
Account receivable26,350,4766,429,931222,95632,557,451
Total26,350,4766,429,931222,9560032,557,451

The important amount of bad debt provision recovered or reversed in the current period thereinto:

Not applicable

(4) The actual write-off accounts receivable

Not applicable

（5） Accounts receivable and contract assets of the top five ending balances collected by debtor

In RMB

Unit nameEnding balance of accounts receivableEnding balance of contract assetsEnding balance of accounts receivable and contract assetsProportion of total ending balance of accounts receivable and contract assetsEnding balance of bad debt provision for accounts receivable and impairment provision for contract assets
GPGC7,675,965,1647,675,965,16493.86%31,541,572
Shenzhen Power supply Bureau190,324,374190,324,3742.33%90
State Grid Xinjiang Electric Power Co., Ltd.112,589,182112,589,1821.38%0
State Grid Henan Electric Power Co., Ltd.28,485,25028,485,2500.35%135,244
Daodaoquan Grain and oil (Maoming) Co., Ltd.13,365,84213,365,8420.16%133,658
Total8,020,729,8128,020,729,81298.10%31,810,474

6.Contract assets

（1） Contract asset

In RMB

ItemsClosing balanceOpening balance
Book balanceProvision for inventory impairmentBook valueBook balanceProvision for inventory impairmentBook value
Accounts receivable from related parties1,305,62901,305,629990,7950990,795
Contract assets of third parties9,117,07912,5299,104,5504,579,45412,5294,566,925
Total10,422,70812,52910,410,1795,570,24912,5295,557,720

（2） Amount and reasons of major changes in book value during the reporting period

Not applicable

(3) By accrual of bad debt provision

In RMB

CategoryClosing balanceOpening balance
Book balanceBad debt provisionBook valueBook balanceBad debt provisionBook value
AmountProportion %AmountProportion %AmountProportion %AmountProportion %
Of which
Accrual of bad debt provision by portfolio10,422,708100%12,5290.12%10,410,1795,570,249100%12,5290.22%5,557,720
其中：其中：
Related party receivable1,305,62912.53%00%1,305,629990,79517.79%00%990,795
Other contract asset9,117,07987.47%12,5290.14%9,104,5504,579,45482.21%12,5290.27%4,566,925
payments
Total10,422,708100%12,5290.12%10,410,1795,570,249100%12,5290.22%5,557,720

Accrual of bad debt provision by portfolio: Related party receivable

In RMB

NameClosing balance
Book balanceBad debt provisionProportion%
Related party receivable1,305,6290%
Total1,305,629

Note：

Portfolio 2：- Related party receivable：As at 30 June 2024, the amount of receivables from relatedparties of the Group was RMB10,354,482（December 31,2023:RMB5,396,602) , and the historical loss ratewas extremely low. Therefore, The Group believes that there is no significant credit risk in the receivables fromrelated parties, and the possibility of significant losses due to their default is extremely low. The Group'sexpected credit loss rate for receivables from related parties is 0%. （December 31,2023:0%).Accrual of bad debt provision by portfolio: Other contract asset payments

In RMB

NameClosing balance
Book balanceBad debt provisionProportion%
Other contract asset payments9,117,07912,5300.14%
Total9,117,07912,530

Note

Portfolio 2- For other contract asset payments except Contract assets other than portfolio 1.

Provision for bad debts is made according to the general model of expected credit losses

□Applicable ?Not applicable

(4) Bad debt provision accrual, collected or reversal in the period

Not applicable

（5） Contract assets actually written off in the current period

Not applicable

7. Receivable financing

Not applicable

8. Other account receivable

In RMB

ItemsClosing balanceOpening balance
Interest receivable00
Dividend receivable65,472,755134,959,219
Other accounts receivable642,881,248663,830,616
Total708,354,003798,789,835

（1）Interest receivable

1) Category of interest receivable

Not applicable

2) Significant overdue interest

Not applicable3）Bad-debt provisionNot applicable

4) Accounts receivable withdraw, reversed or collected during the reporting period

Not applicable

5)Interest receivable actually written off in the current period

Not applicable

(2) Dividend receivable

1) Category

In RMB

Item (or the invested entity)Closing balanceOpening balance
Taishan Power Generation Co., LTD134,959,219
Sunshine Insurance Group Co., LTD63,000,000
Yangshan County Jiangkeng hydropower Station Co., LTD882,755
Yangshan Zhongxinkeng power Co., LTD1,590,000
Total65,472,755134,959,219

2) Important dividend receivable with over one year aged

Not applicable

3) Accrual of bad debt provision

□Applicable ?Not applicable

4） Bad debt provision accrual, collected or reversal in the periodNot applicable

5) Dividends receivable actually written off in the current period

Not applicable

（3） Other accounts receivable

1) Other accounts receivable classified by the nature of accounts

In RMB

NatureClosing book balanceOpening book balance
Land receivable deposit269,933,918274,833,258
Related party receivable94,594,654113,894,689
Supplementary medical insurance fund receivable9,171,79213,340,791
Land receivable deposit105,626,307108,018,187
Compensation receivable for electricity charges during the demolition and construction period23,446,00023,447,300
Current account7,099,2007,099,200
Receive of government subsidies91,378,12674,097,420
Receivable petty cash106,4051,141,476
Other14,726,68312,671,880
Less：Bad-debt provision56,770,76367,295,442
Total-29,972,600-32,009,027

2） Disclosure by aging

In RMB

AgingClosing book balanceOpening book balance
Within 1 year(Including 1 year）262,405,569230,921,183
1-2 years56,028,87865,744,746
2-3 years41,314,187219,216,710
Over 3 years313,105,214179,957,004
3-4 years138,630,701139,208,710
4-5 years134,676,4822,198,104
Over 5 years39,798,03138,550,190
Total672,853,848695,839,643

3）According to the bad debt provision method classification disclosure Bad-debt provision?Applicable □Not applicable

In RMB

CategoryClosing balanceOpening balance
Book balanceBad debt provisionBook valueBook balanceBad debt provisionBook value
AmountProportion %AmountProportion %AmountProportion %AmountProportion %
Accrual of bad debt provision by single521,807,71577.55%21,001,2314.02%500,806,484549,775,21879.01%19,374,5843.52%530,400,634
In Which
Accrual of bad debt provision by portfolio151,046,13322.45%8,971,3695.94%142,074,764146,064,42520.99%12,634,4438.65%133,429,982
In Which
Other Portfolio151,046,13322.45%8,971,3695.94%142,074,764146,064,42520.99%12,634,4438.65%133,429,982
Total672,853,848100%29,972,6004.45%642,881,248695,839,643100%32,009,0274.60%663,830,616

Accrual of bad debt provision by portfolio: Other portfolio

名称期初余额期末余额
账面余额坏账准备账面余额坏账准备计提比例计提理由
Land recovery receivable261,058,758269,933,9180%The other party is a government unit, and the risk of credit loss is expected to be very low.
Amounts receivable from related parties113,894,68994,594,6540%The other party is a related party, the historical loss rate is 0%, and the expected risk of credit loss is very low.
The supplementary medical insurance fund is due108,018,187105,626,3070%The counterparty is Taikang Pension Insurance Co., LTD. Guangdong Branch (" Taikang Insurance "),
which mainly provides custody services for the Group's supplementary medical insurance fund, with a historical loss rate of 0% and an extremely low expected risk of credit loss.
Land deposit receivable23,447,30023,446,0000%The other party is a government unit, the historical loss rate is 0%, and the expected credit loss risk is extremely low.
Electricity compensation receivable during the demolition and construction period7,099,2007,099,2000%The project was led by the government industrial park, which paid for the compensation, and the risk of credit loss was expected to be very low
Other government receivables16,882,500106,4050%The other party is a government unit, the historical loss rate is zero, and the expected risk of credit loss is extremely low.
Other19,374,58419,374,58421,001,23121,001,231100%Due to the other party's financial difficulties, it is not expected to recover
Total549,775,21819,374,584521,807,71521,001,231

In RMB

NameClosing balance
Book balanceBad debt provisionProportion%
Other portfolio151,046,1338,971,3695.94%
Total151,046,1338,971,369

Note：

Provision for bad debts is made according to the general model of expected credit losses

In RMB

Bad Debt ReservesStage 1Stage 2Stage 3Total
Expected credit losses over the next 12 monthsExpected credit loss over life (no credit impairment)Expected credit losses for the entire duration (credit impairment occurred)
Balance as at January 1, 202412,634,443019,374,58432,009,027
Balance as at January 1, 2023 in current
--Transfer to the second stage0000
-- Transfer to the third stage-229,5300229,5300
-- Reversal to the second stage0000
-- Reversal to the first stage0000
Provision in Current Year383,51501,417,1171,800,632
Reversal in Current Year-3,767,05900-3,767,059
Conversion in Current Year0000
Write off in Current Year-50,0000-20,000-70,000
Other change0000
Balance as at 30 June. 20248,971,369021,001,23129,972,600

Basis for division of each stage and accrual ratio for bad-debt provisionLoss provision changes in current period, change in book balance with significant amount

□ Applicable √Not applicable

4) Accounts receivable withdraw, reversed or collected during the reporting periodThe withdrawal amount of the bad debt provision：

In RMB

CategoryOpening balanceAmount of change in the current periodClosing balance
AccrualReversed or collected amountWrite-offOther
Other receivable32,009,0271,800,6323,767,05970,000029,972,600
Total32,009,0271,800,6323,767,05970,000029,972,600

Where the current bad debts back or recover significant amounts:

Not applicable5）Other account receivables actually cancel after write-off

In RMB

ItemsAmount
Other receivable70,000

Important other receivables write-offNot applicable

6)Top 5 of the closing balance of the other accounts receivable collected according to the arrears party

In RMB

NameNatureYear-end balanceAgingPortion in total other receivables(%)Bad debt provision of year-end balance
Meixian Chengjiangzhen People's Government of Meizhou CityLand withdrawal receivable126,885,4004-5 years19.74%
Guangdong Yudean Environmental Protection Co., Ltd.Receivables from sale of by-products to related parties109,094,0183-4 years16.97%
Taikang PensionSupplementary medical insurance fund receivable105,626,307Within 5 years16.43%17,530
Guangdong Yudean Environmental Protection Co., Ltd.Receivables from sale of by-products to related parties54,036,275Within 1 year（Including 1 year）8.41%
Xingjiang Jintai Electric Co., Ltd. Thermoelectric branchReceivable of Unit current25,916,869Within 1 year（Including 1 year）4.03%
Total421,558,86965.57%17,530

7） Other receivables reported due to centralized management of fundsNot applicable

9. Accounts paid in advance

(1) Accounts paid in advance by ageing

In RMB

Account ageEnding balanceOpening balance
AmountRatioAmountRatio
Within 1 year1,337,071,42898.95%1,575,368,56599.78%
1-2 years13,224,6210.98%2,963,8940.19%
2-3 years423,9420.03%185,8170.01%
Over 3 years493,8390.04%362,7180.02%
Total1,351,213,8301,578,880,994

Notes of the reasons of the prepayment ages over 1 year with significant amount but failed settled in timeAs at June 30,2024, advances to suppliers aged more than 1 year were RMB14,142,402( December31,2023, RMB3,512,429) , mainly including prepayments for spare parts and materials.

（2）The ending balance of Prepayments owed by the imputation of the top five parties

NameRelationship with the companyAmountProportion %
Guangdong Power Industry Fuel Co., Ltd.Related party913,770,56867.63%
Guangdong Zhutou Electric Power fuel Co., Ltd.Third party91,011,5106.74%
Hubei Carbon Emission Rights Trading Center Co., Ltd.Third party57,867,7894.28%
Guangdong Dapeng Natural gas Co., Ltd.Third party37,604,9592.78%
Zhuhai Gaolan Port Railway Co., LtdThird party9,985,0300.74%
Total1,110,239,85682.17%

Other note：

10. Inventories

Whether the company need to comply with the disclosure requirements of the real estate industryNo

（1）Category of Inventory

In RMB

ItemsClosing book balanceOpening book balance
Book balanceProvision for inventory impairmentBook valueBook balanceProvision for inventory impairmentBook value
Raw materials4,361,358,53957,381,9594,303,976,5802,728,662,90692,178,3752,636,484,531
Other2,404,47002,404,47019,020,180019,020,180
Total4,363,763,00957,381,9594,306,381,0502,747,683,08692,178,3752,655,504,711

（2）Data resources recognized as inventory

In RMB

ItemsInventory of outsourced data resourcesInventory of self processed data resourcesInventory of data resources obtained by other meansTotal
1. Ending book value0
2. Beginning book value0

(3) Inventory depreciation reserve

In RMB

Item Raw materials msBeginning of termIncreased in current periodDecreased in current periodYear-end balance
ProvisionOtherTransferred backOther
Raw materials92,178,37534,796,41657,381,959
Turnover materials000
Total92,178,37534,796,41657,381,959

The Company uses the book value higher than the net realizable value of the disposal price less disposal costs as thespecific basis for determining the net realizable value; The main reasons for the reserve for the depreciation of resoldinventory during the year are the disposal, acquisition and scrapping of spare parts.

Inventory depreciation provision by portfolio

In RMB

Portfolio nameAt the end of the periodAt the beginning of the period
Ending balanceDepreciation provisionAccrual ratio forBeginning balanceDepreciation provisionAccrual ratio for
depreciation provisiondepreciation provision

Accrual standard for inventory depreciation provision by portfolio

(4) Explanation on inventories with capitalization of borrowing costs included at ending balanceNot applicable

(5) Assets unsettled formed by construction contract which has completed at period-endNot applicable

11. Assets divided as held-to-sold

Not applicable

12. Non-current assets due within 1 year

Not applicable

13. Other current assets

In RMB

ItemsYear-end balanceYear-beginning balance
Contract acquisition cost00
Returns receivable costs00
VAT to be deducted1,594,960,2301,435,442,817
Advance tax payment63,779,12240,660,024
Carbon emission rights assets28,982,1177,106,032
Other10,694,09012,869,121
Total1,698,415,5591,496,077,994

Other note：

14.Creditor's right investment

Not applicableLoss provision changes in current period, change in book balance with significant amount

□Applicable √ Not applicable

Other note: Not applicable

15.Other creditor's rights investment

Not applicableLoss provision changes in current period, change in book balance with significant amount

□Applicable √ Not applicable

Other note: Not applicable

16. Other equity instruments investment

In RMB

Item nameBeginning balanceGains included in other comprehensive income in the current periodLosses included in other comprehensive income in the current periodGains accumulated in other comprehensive income at the end of the current periodLosses accumulated in other comprehensive income at the end of the current periodDividend income recognized in the current periodEnding balanceReason designated as being measured at fair value and change being included in other comprehensive income
Xinjiang Yuejian Nengxin Energy Equipment Co., Ltd.2,000,000002,000,000The Group has not participated in or influenced the financial and business decisions of the above-mentioned investee in any way. Therefore, the Group has no significant
impact on the above-mentioned investee, and uses it as other equity instruments for investment accounting.
Shenzhen Capital Group Co., Ltd.1,014,000,0000685,966,00024,756,0201,014,000,000The Group has not participated in or influenced the financial and business decisions of the above-mentioned investee in any way. Therefore, the Group has no significant impact on the above-mentioned investee, and uses it as other equity instruments for investment accounting.
Shenzhen Energy Co., Ltd.97,524,00012,852,00094,485,3722,116,800110,376,000The Group has not participated in or influenced
the financial and business decisions of the above-mentioned investee in any way. Therefore, the Group has no significant impact on the above-mentioned investee, and uses it as other equity instruments for investment accounting.
Shanghai Shenergy Group356,517,044133,832,722254,511,77822,212,900490,349,766The Group has not participated in or influenced the financial and business decisions of the above-mentioned investee in any way. Therefore, the Group has no significant impact on the above-mentioned investee, and uses it
as other equity instruments for investment accounting.
Sunshine Insurance Group Co., Ltd.1,379,000,002570,821,860452,178,14263,000,000808,178,142The Group has not participated in or influenced the financial and business decisions of the above-mentioned investee in any way. Therefore, the Group has no significant impact on the above-mentioned investee, and uses it as other equity instruments for investment accounting.
GMG International Tendering Co., Ltd.16,506,0007,002,0005,904,000504,0009,504,000The Group has not participated in or influenced the financial and business decisions of the above-mentioned
investee in any way. Therefore, the Group has no significant impact on the above-mentioned investee, and uses it as other equity instruments for investment accounting.
Gaozhou Yawu Hydropower Co., Ltd800,00000800,000The Group has not participated in or influenced the financial and business decisions of the above-mentioned investee in any way. Therefore, the Group has no significant impact on the above-mentioned investee, and uses it as other equity instruments for investment
accounting.
Total2,866,347,046146,684,722577,823,8601,493,045,2920112,589,7202,435,207,908

There is a termination recognition in this period.Not applicableItemized disclosure of the current non - trading equity instrument investment

In RMB

NameRecognized dividend incomeAccumulating gainsAccumulating lossesAmount of other comprehensive income transferred to retained earningReasons for being measured at fair value and whose changes are included in other comprehensive incomeReasons for other comprehensive income transferred to retained earnings
Xinjiang Yuejian Nengxin Energy Equipment Co., Ltd.0Consideration of strategic investmentsNot applicable
Shenzhen Capital Group Co., Ltd.24,756,020685,966,001Consideration of strategic investmentsNot applicable
Shenzhen Energy Co., Ltd.2,116,80094,485,372Consideration of strategic investmentsNot applicable
Shanghai Shenergy Group22,212,900254,511,778Consideration of strategic investmentsNot applicable
Sunshine Insurance Group Co., Ltd.63,000,000452,178,142Consideration of strategic investmentsNot applicable
GMG International Tendering Co., Ltd.504,0005,904,000Consideration of strategic investmentsNot applicable
Gaozhou Yawu Hydropower Co., Ltd0Consideration of strategic investmentsNot applicable

Other note：

(a) On June 30, 2024, the Company held a total of 350,000,000 H shares of Sunshine Insurance GroupInc., Ltd. with a fair value of RMB 808,178,142, of which the investment cost was RMB 356,000,000. TheCompany listed this investment at fair value with reference to the market price. During the year, the lossmeasured at fair value was RMB570,821,86 (2023 income: RMB 316,703,800), and other comprehensiveincome has been reduced.(b) On June 30, 2024, the fair value of the equity of Shenzhen Capital Group Co., Ltd. held by theCompany was RMB 1,014,000,000, of which the investment cost was RMB 328,034,000. During the year,there was no change in the fair value of the equity investment.

(c) On June 30, 2024, the Company held a total of 55,532,250 A shares of Shanghai Shenergy Company,with a fair value of RMB 490,349,766 and an investment cost of RMB235,837,988. The Company listed thisinvestment at fair value with reference to the market price. During the year, the income measured at fairvalue was RMB 133,832,722 (lncome in 2023: RMB ：51,644,992), and other comprehensive income hasbeen increased.

(d) On June 30, 2024, the Company held a total of 15,120,000 A shares of Shenzhen Energy Co., Ltd.,with a fair value of RMB110,376,000 and an investment cost of RMB15,890,628. The Company listed thisinvestment at fair value with reference to the market price. During the year, the income measured at fairvalue was RMB 12,852,000 (lncome in 2023: RMB ：1,360,800 ), and other comprehensive income hasbeen increased.

(e) On June 30, 2024, the Company held a total of 1,800,000 shares listed by GMG InternationalTendering Co., Ltd. in the national share transfer system for small and medium-sized enterprises, with a fairvalue of RMB 9,504,000 and an investment cost of RMB 3,600,000. The Company listed this investment atfair value with reference to the market price. During the year, the income measured at fair value wasRMB7,002,000 (lncome in 2023: RMB 7,974,000), and other comprehensive income has been increased.

17.Long-term receivable

Not applicable

18. Long-term equity investment

In RMB

Invested enterpriseBeginning balanceImpairment provision begin- year balanceChanges in Current periodEnding balanceBalance at year-end of impairment
Additional investmentDisinvestmentInvestment profit and loss confirmed by equity methodOther comprehensive income adjustmentOther changes of equityDeclaration of cash dividends or profitsProvision for impairmentOther
I. Joint ventures
Guangdong Electric Industrial Fuel Co., Ltd.867,236,779050,000,000046,479,81603,584,96822,340,54900944,961,0140
China Aviation Shenxin Wind Power Co., Ltd.172,615,216-942,057171,673,159
Zhanjiang Yuexin Distributed Energy and Technique Co., Ltd.4,775,981807,7885,583,769
Subtotal1,044,627,976050,000,0046,345,503,584,922,340,5001,122,217,9420
00476849
二、联营企业二、联营企业
Taishan Power Generation1,989,886,70841,812,9676,735,2122,038,434,887
Energy Group Finance Company1,740,860,4630076,878,3663,770,552092,569,945001,728,939,436
Yudean Shipping111,441,0218,882,663171,795908,301121,403,780
Shanxi Yudean Energy Co., Ltd.3,538,873,765208,937,689573,33503,748,384,789
Yudean Captive297,884,3568,025,7152,330,169303,579,902
Weixin Yuntou0122,614,15300122,614,153
Guangdong Energy Financing Leasing Co., Ltd.544,877,66215,926,370560,804,032
Yueqian Electric265,948,8160013,495,356-17,5202,108,471000281,535,123
South199,664,7408,619,214208,283,954
Offshore Wind Power Joint Development Co., Ltd.
Other62,776,69020,819,280004,035,662002,472,7520064,339,60020,819,280
Subtotal8,752,214,221143,433,43300386,614,0023,924,82710,325,31997,372,866009,055,705,503143,433,433
Total9,796,842,197143,433,43350,000,0000432,959,5493,924,82713,910,287119,713,4150010,177,923,445143,433,433

The recoverable amount is determined on the basis of the net amount of fair value less disposal costs

□Applicable ?Not applicable

The recoverable amount is determined by the present value of the projected future cash flows

□Applicable ?Not applicable

The reason for the obvious discrepancy between the foregoing information and the information used in the impairment test of previous years or the externalinformationThe reason for the obvious discrepancy between the information used in the Company's impairment test in previous years and the actual situation in thecurrent year

Other note

19. Other non-current financial assets

In RMB

ItemsEnding balanceOpening balance
Total00

20. Investment property

(1) Investment property adopted the cost measurement mode

√Applicable □ Not applicable

In RMB

ItemsHouse, BuildingLand use rightConstruction in processTotal
I. Original price
1. Balance at period-beginning492,035,31346,042,8010538,078,114
2.Increase in the current period0000
(1) Purchase0000
(2)Inventory\Fixed assets\ Transferred from construction in progress0000
(3)Increased of Enterprise Combination0000
0
3.Decreased amount of the period0000
（1）Dispose0000
（2）Other out0000
0
4. Balance at period-end492,035,44946,042,2960538,078,114
II.Accumulated amortization0
1.Opening balance177,936,00712,949,3480190,885,355
2.Increased amount of the period3,901,442451,94804,353,390
(1) Withdrawal3,901,442451,94804,353,390
0
3.Decreased amount of the period0000
（1）Dispose0000
（2）Other out0000
0
4. Balance at period-end181,837,45013,401,2950195,238,745
III. Impairment provision0
1. Balance at period-beginning0
2.Increased amount of the period0
(1) Withdrawal0
0
3.Decreased amount of the period0
（1）Dispose0
（2）Other out0
0
4. Balance at period-end0
IV.Book value0
1.Book value at period -end310,197,86432,641,5050342,839,369
2.Book value at period-beginning314,099,30633,093,4530347,192,759

The recoverable amount is determined on the basis of the net amount of fair value less disposal costs

□Applicable ?Not applicable

The recoverable amount is determined by the present value of the projected future cash flows

□Applicable ?Not applicable

The reason for the obvious discrepancy between the foregoing information and the information used inthe impairment test of previous years or the external information

The reason for the obvious discrepancy between the information used in the Company's impairment testin previous years and the actual situation in the current year

Other note

(2) Investment property adopted fair value measurement mode

□ Applicable √Not applicable

(3) Converted to investment real estate and measured at fair value

Not applicable

(4) Investment real estate without certificate of ownership

In RMB

ItemsBook valueReason
House and building513,221Temporarily in the government approved stage

Other noteOn June 30, 2024, after consulting the Group's legal advisers, the management believed that therewould be no substantive legal obstacles to the handling of these property certificates and would not have asignificant adverse impact on the normal operation of the Group.

21. Fixed assets

In RMB

ItemsClosing balanceOpening balance
Fixed assets68,663,831,17362,883,737,810
Disposal of fixed assets61,006,603133,584,481
Total68,724,837,77663,017,322,291

(1) List of Fixed assets

In RMB

ItemsHouse and buildingGeneration equipmentTransportationsOther equipmentTotal
I. Original price
1. Balance at period-beginning35,316,925,52398,703,039,376745,336,2411,553,660,977136,318,962,117
2.Increase in the current period2,628,420,3765,013,227,71214,235,3781,357,770,8539,013,654,319
(1) Purchase12,291,7481,178,669,79214,235,37848,891,2031,254,088,121
（2） Transferred from construction in progress2,616,128,6283,834,557,9201,308,879,6467,759,566,194
(3)Increased of Enterprise Combination
3.Decreased amount of the period21,892,074627,112,82731,108,23018,720,627698,833,758
（1）Dispose21,892,074627,112,82731,108,23018,720,627698,833,758
4. Balance at period-end37,923,453,825103,089,154,261728,463,3892,892,711,203144,633,782,678
II. Accumulated depreciation
1.Opening balance13,536,220,17855,886,196,564509,766,3071,227,990,80471,160,173,853
2.Increased amount of the period411,436,8982,642,260,65122,306,68178,041,3683,154,045,598
(1) Withdrawal411,436,8982,642,260,65122,306,68178,041,3683,154,045,598
3.Decreased amount of the period4,173,345486,398,4824,685,05816,663,286511,920,171
（1）Dispose4,173,345486,398,4824,685,05816,663,286511,920,171
4.Closing balance13,943,483,73158,042,058,733527,387,9301,289,368,88673,802,299,280
III. Impairment provision
1.Opening balance1,022,628,4791,246,337,575833,8015,250,5992,275,050,454
2.Increase in the reporting period2,0602,060
（1）Withdrawal2,0602,060
3.Decreased amount of the period4,896,281101,231,7428,7781,263,488107,400,289
（1）Dispose4,896,281101,231,7428,7781,263,488107,400,289
4. Closing balance1,017,732,1981,145,105,833825,0233,989,1712,167,652,225
IV. Book value
1.Book value of the period-end22,962,237,89643,901,989,695200,250,4361,599,353,14668,663,831,173
2.Book value of the period-begin20,758,076,86641,570,505,237234,736,133320,419,57462,883,737,810

(2) List of temporarily idle fixed assets

Not applicable

(3) Fixed assets leased in the operating leases

Not applicable

(4) Fixed assets without certificate of title completed

In RMB

ItemsBook valueReason
House and Building2,522,295,902Temporarily in the government approved stage

Other noteOn June 30, 2024, after consulting the Group's legal advisers, the management believed that therewould be no substantive legal obstacles to the handling of these property certificates and would not have asignificant adverse impact on the normal operation of the Group.

(5) Information of impairment test of fixed assets

□Applicable ?Not applicable

（6） liquidation of fixed assets

In RMB

ItemsClosing balanceOpening balance
Parts of power generation equipment have been scrapped53,790,804128,940,662
Other equipment7,215,7994,643,819
Total61,006,603133,584,481

Other note

22. Construction in progress

In RMB

ItemsClosing balanceOpening balance
Construction in progress26,131,578,65429,988,793,254
Engineering Material21,920,2761,784,424
Total26,153,498,93029,990,577,678

(1) List of construction in progress

In RMB

ItemsClosing balanceOpening balance
Book balanceProvisionBook valueBook balanceProvision forBook value
for impairmentimpairment
Green Island offshore wind power project12,338,032,414012,338,032,41412,207,889,877012,207,889,877
Shajiao Ningzhou gas and electricity project1,449,691,98601,449,691,9863,253,906,35703,253,906,357
Shache integrated energy photovoltaic project2,585,151,97602,585,151,9762,411,312,39102,411,312,391
Daya Bay petrochemical west cogeneration project0001,579,779,97001,579,779,970
Tai Po Phase II expansion project1,930,515,36401,930,515,3641,292,869,25401,292,869,254
Inner Mongolia Yuefeng 300MW photovoltaic park project835,730,4280835,730,4281,246,934,24101,246,934,241
Zhaoqing Dinghu natural gas cogeneration project0001,144,305,55401,144,305,554
Zhuhai Yuefengfengfu complex project000794,545,7730794,545,773
Guangxi aviation energy000753,624,5740753,624,574
landscape storage integration project
Jinchang Mu Hong Jinchang District west slope 100MW photovoltaic power generation project000533,883,7800533,883,780
Bohe power plant phase II project1,376,281,48001,376,281,480497,328,8910497,328,891
Hongdong County 200MW centralized photovoltaic power generation project355,761,1880355,761,188335,673,6860335,673,686
Your power 150MW photovoltaic project
Zhanjiang Potou dry pond 120MW fishing and light complementary project
Dananhai cogeneration project
Laishui water conservancy
80MW affordable online photovoltaic power generation project in Laishui County
Yunhe natural gas cogeneration project259,802,3740259,802,374259,802,3740259,802,374
Jincheng Yuefeng 170MW photovoltaic project52,623,336052,623,336226,234,3350226,234,335
Jinghai Power Plant 5, 6 unit expansion project275,276,4740275,276,474205,809,5320205,809,532
Yahua New Energy 50MW agro-optical complementary new energy photovoltaic power station project
Wuhua Huangnizhai project
Zhanjiang Lianjiang Dongsheng farm agricultural photovoltaic power generation
phase I project
Zhanjiang Lianjiang Changshan farm agricultural photovoltaic power generation project
Lianjiang Navigation energy 90MW fish-light complementary photovoltaic power station project150,846,3220150,846,322197,876,9650197,876,965
Huadu cogeneration project522,733,1310522,733,131195,403,2010195,403,201
Hanhai Company 350,000 kw project199,919,2870199,919,287194,542,5580194,542,558
Total353,848,44255,389,093298,459,349177,754,66055,389,093122,365,567

(2) Changes of significant construction in progress

In RMB

NameBudgetAmount at year beginningIncrease at this periodTransferred to fixed assetsOther decreaseBalance in year-endProportion(%)Progress of workCapitalization of interest accumulated balanceIncluding：Current amount of capitalization of interestCapitalization of interest ratio（%)Source of funds
Green Island offshore wind power project17,107,250,00012,207,889,877202,922,09172,779,554012,338,032,41472.55%82.57%152,571,62354,328,5482.45%Own funds and borrowing
Shajiao Ningzhou gas and electricity project4,885,530,9743,253,906,3577,634,8341,811,849,20501,449,691,98666.76%87.63%194,159,275.3047,946,798.203.21%Own funds and borrowing
Shache integrated energy12,917,064,6002,411,312,391173,839,585002,585,151,97620.01%20.01%24,674,67919,180,8082.30%Own funds and borrowing
photovoltaic project
Daya Bay petrochemical west cogeneration project3,820,000,0001,579,779,970404,593,1061,984,373,0760075.93%99.10%71,372,24222,172,0432.12%Own funds and borrowing
Tai Po Phase II expansion project8,122,320,0001,292,869,254639,680,5442,034,43401,930,515,36423.69%23.69%32,281,84819,342,8602.50%Own funds and borrowing
Inner Mongolia Yuefeng 300MW photovoltaic park project1,572,760,0001,246,934,24169,691,195470,248,47010,646,538835,730,42885%85%28,112,2759,346,7782.90%Own funds and borrowing
Zhaoqing Dinghu natural gas cogeneration project2,551,222,5001,144,305,554222,684,8231,366,990,3770093.59%100%100,000,00010,374,9413.27%Own funds and borrowing
Zhuhai Yuefengfengfu complex project1,381,084,700794,545,77336,570,397831,116,1700085%95.81%26,726,70013,314,4412.45%Own funds and borrowi
ng
Guangxi aviation energy landscape storage integration project864,000,000753,624,5742,400,452756,025,0260089.31%99%15,452,2833,846,4592.46%Own funds and borrowing
Jinchang Mu Hong Jinchang District west slope 100MW photovoltaic power generation project598,705,600533,883,7801,339,184534,633,341589,623099.28%100%10,079,140944,5742.48%Other
Bohe power plant phase II project7,483,510,000497,328,891878,952,589001,376,281,48012.26%25.95%14,634,04913,580,2052.40%Own funds and borrowing
Hongdong County 200MW centralized photovoltaic powerOwn funds and borrowing
generation project
Your power 150MW photovoltaic projectOwn funds and borrowing
Zhanjiang Potou dry pond 120MW fishing and light complementary projectOther
Dananhai cogeneration projectOwn funds and borrowing
Laishui water conservancy 80MW affordable online photovoltaic power generation516,560,000335,673,68620,087,50200355,761,18868.95%68.95%12,376,0203,990,6023%Own funds and borrowing
project in Laishui County
Yunhe natural gas cogeneration project589,200,000259,802,374000259,802,37444.09%45%3,396,6822,405,7722.25%Own funds and borrowing
Jincheng Yuefeng 170MW photovoltaic project500,230,000226,234,33500173,610,99952,623,33640.71%49.98%9,130,8422,236,7263.10%Financial institution loan
Jinghai Power Plant 5, 6 unit expansion project2,855,450,000205,809,53269,466,94200275,276,4749.64%9.67%8,921,9084,658,5372.60%Other
Yahua New Energy 50MW agro-optical complementary new energy photovoltaic667,970,944145,867,700177,296,64300323,164,34348.38%48.38%1,731,8621,731,8622.60%Own funds and borrowing
power station project
Wuhua Huangnizhai project667,970,944145,867,700177,296,64300323,164,34348.38%48.38%1,731,8621,731,8622.60%Other
Zhanjiang Lianjiang Dongsheng farm agricultural photovoltaic power generation phase I project299,020,000136,728,1683,014,08400139,742,25287.83%99.36%9,332,148655,6482.75%Financial institution loan
Zhanjiang Lianjiang Changshan farm agricultural photovoltaic power generation project376,000,000197,876,9650047,030,643150,846,32254.92%54.92%6,519,5012,348,7733%Financial institution loan
Lianjia2,809,700,000195,403,201327,329,93000522,733,13118.60%18.60%10,158,3735,269,6332.15%Other
ng Navigation energy 90MW fish-light complementary photovoltaic power station project
Huadu cogeneration project884,700,000194,542,5585,376,72900199,919,28722.61%32%1,985,386448,9102.60%
Hanhai Company 350,000 kw project8,054,820,000122,365,567176,624,554530,7720298,459,34915.37%4.40%19,576,15510,834,7832.68%
Total667,970,944145,867,700177,296,64300323,164,34348.38%48.38%1,731,8621,731,8622.60%

(3) List of the withdrawal of the impairment provision of the construction in progress

Not applicable

（4） Information of impairment test of construction in progress

□Applicable ?Not applicable

(5) Engineering materials

In RMB

ItemsEnd of termBeginning of term
Book balanceProvision for impairmentBook valueBook balanceProvision for impairmentBook value
Engineering material21,920,27621,920,2761,784,4241,784,424
Total21,920,27621,920,2761,784,4241,784,424

23. Productive biological assets

(1) Productive biological assets measured at cost methods

□ Applicable √ Not applicable

(2) Productive biological assets measured at fair value

□ Applicable √ Not applicable

（3） Productive biological assets measured by fair value

□Applicable?Not applicable

24. Oil and gas asset

□Applicable?Not applicable

25. Right-of-use assets

（1） Right-of-use assets

In RMB

ItemsHouse and buildingsMachinery equipmentTransportation equipmentLand use rightTotal
I. Original price
1.Opening balance85,475,09610,206,241,67410,176,117613,120,19210,915,013,079
2.Increased amount9,009,587158,056,617476,6940167,542,898
of the period
（1）New lease contracts9,009,587158,056,617476,6940167,542,898
3. Decreased amount of the period1,165,12600524,1681,689,294
（1）Modification of leases00000
（2）Leases transferred out upon maturity1,165,12600524,1681,689,294
4.Closing balance93,319,55710,364,298,29110,652,811612,596,02411,080,866,683
II. Accumulated depreciation0
1.Opening balance47,027,0351,302,084,1925,375,00928,016,9211,382,503,157
2.Increased amount of the period6,662,694278,261,738512,14018,046,696303,483,268
（1）Withdrawal6,662,694278,261,738512,14018,046,696303,483,268
3.Decreased amount of the period466,29000524,168990,458
(1)Disposal0
（2）Leases transferred out upon maturity466,29000524,168990,458
4.Closing balance53,223,4391,580,345,9305,887,14945,539,4491,684,995,967
III. Impairment provision0
1.Opening balance02,899,510002,899,510
2.Increased amount of the period00000
（1）Withdrawal00000
0
3.Decreased amount of the period00000
(1)Disposal00000
0
4.Closing balance02,899,510002,899,510
IV. Book value0
1.Closing book value40,096,1188,781,052,8514,765,662567,056,5759,392,971,206
2.Opening book38,448,0618,901,257,9724,801,108585,103,2719,529,610,412

（2） Information of impairment test of right-of-use assets

□Applicable ?Not applicable

Other note：

26. Intangible assets

(1) Information

In RMB

ItemsLand use rightPatentNon-patent TechnologySoftwareSea use rightTransmission and Transformation Supporting ProjectFavorable contractNon-patent technology and othersTotal
I. Original price
1. Balance at period-beginning3,593,035,74637,296,810287,222,269521,465,484260,331,31552,211,37913,720,7374,765,283,740
2.Increase in the current period36,907,688108,4913,224,4251,179,24541,419,849
(1) Purchase36,907,688108,4913,224,4251,179,24541,419,849
（2）Internal R & D
（3）
Increased of Enterprise Combination
3.Decreased amount of the period3,7663,766
(1)Dispose3,7663,766
4. Balance at period-end3,629,943,434108,49137,296,810290,442,928521,465,484260,331,31552,211,37914,899,9824,806,699,823
II.Accumulated amortization
1. Balance at period-beginning692,647,94923,095,522174,990,69151,124,855260,331,31511,314,01812,168,9561,225,673,306
2. Increase in the current period26,895,15565,3511,966,48811,364,65017,804,2682,134,9322,654,97762,885,821
(1) Withdrawal26,895,15565,3511,966,48811,364,65017,804,2682,134,9322,654,97762,885,821
3.Decreased amount of the period
(1)Dispose
4. Balance at period-end719,543,10465,35125,062,010186,355,34168,929,123260,331,31513,448,95014,823,9331,288,559,127
III. Impairment provision
1. Balance at period-beginning56,502,3732,460,161448,34159,410,875
2. Increase in the current period
(1) Withdrawal
3.Decreased amount of the period
(1)Dispose
4. Balance56,502,3732,460,161448,34159,410,875
at period-end
4. Book value
1.Book value at period -end2,853,897,95743,1409,774,639103,639,246452,536,36138,762,42976,0493,458,729,821
2.Book value at period-beginning2,843,885,42411,741,127111,783,237470,340,62940,897,3611,551,7813,480,199,559

The intangible assets by the end of the formation of the company's internal R & D accounted of the proportion of the balance of intangible assets.

（2） Data resources recognized as intangible assets

In RMB

ItemsIntangible assets of outsourced data resourcesIntangible assets of self processed data resourcesIntangible assets of data resources obtained by other meansTotal
1. Ending book value0
2. Beginning book value0

（3）Details of Land use right failed to accomplish certification of property

In RMB

ItemsBook valueReason
Land use right22,031,881The procedures have not been completed

Other noteOn June 30, 2024, after consulting the Group's legal advisers, the management believed that therewould be no substantive legal obstacles to the handling of these property certificates and would not have asignificant adverse impact on the normal operation of the Group.

（4）Information of impairment test of intangible assets

□Applicable ?Not applicable

27. Goodwill

(1) Original book value of goodwill

In RMB

Name of the investees or the events formed goodwillOpening balanceIncreaseDecreaseClosing balance
The merger of enterprisesdisposition
Tumushuke Thermal Power Co., Ltd.119,488,672119,488,672
Other45,531,25945,531,259
Total165,019,931165,019,931

（2）Impairment provision of goodwill

In RMB

Name of the investees or the events formed goodwillOpening balanceIncreaseDecreaseClosing balance
Provisiondisposition
Tumushuke Thermal Power Co., Ltd.-119,488,672-119,488,672
Other-36,922,378-36,922,378
Total-156,411,050-156,411,050

（3） Information about the asset group or asset group portfolio where the goodwill is located

NameComposition and basis of the asset group or portfolioOperating segment and basisWhether it is consistent with the previous year
Asset Group (including goodwill) of Tumushuk Thermal Power Co., LtdThe asset group business of Tumushuk Company is clear and single, with relative independence. At the same time, the products of its main business are directly connected to the market, which meet the relevant requirements of the asset group.This goodwill test only involves one asset group.Yes

The asset group or asset group combination has changedNot applicable

(4) The specific method of determining the recoverable amount

The recoverable amount is determined on the basis of the net amount by fair value less disposal costs

□Applicable ?Not applicable

The recoverable amount is determined by the present value of the projected future cash flows?Applicable □Not applicable

In RMB

ItemsBook valueRecoverable amountImpairment amountNumber of years of forecast periodKey parameters of forecast periodKey parameters of stable periodDetermination basis of key parameters in stable period
Asset group (including goodwill) related to power generation equipment of Tumushuk Thermal Power Company2,238,449,6832,067,326,700119,488,6725 yearsOn-grid tariff, sales volume, fuel price, pre-tax discount rateOn-grid tariff, sales volume, fuel price, pre-tax discount rateThe key parameters are determined according to historical experience and predictions of market development and remain unchanged during the stable period. The discount rate is the pre-tax discount rate that reflects the specific risks of related assets.
Total2,238,449,6832,067,326,700119,488,672

The reason for the obvious discrepancy between the foregoing information and the information used inthe impairment test of previous years or the external informationNot applicableThe reason for the obvious discrepancy between the information used in the Company's impairment testin previous years and the actual situation in the current year

Not applicable

(5) Status of completion of performance commitment and corresponding goodwill impairmentWhen goodwill is formed, there is a performance commitment and the reporting period or the previousperiod in the reporting period is within the performance commitment period

□Applicable ?Not applicable

Other note：

28.Long-term amortization expenses

In RMB

ItemsBalance in year-beginIncrease at this periodAmortization balanceOther decreaseBalance in year-end
Road use right32,004,077108,237874,760031,237,554
Improvement of use right assets12,174,8831,415,1983,374,74111,53710,203,803
Insurance18,241,14609,070,73409,170,412
Other18,662,02801,126,532017,535,496
Total81,082,1341,523,43514,446,76711,53768,147,265

29.Deferred income tax assets/deferred income tax liabilities

(1)Details of the un-recognized deferred income tax assets

In RMB

ItemsBalance in year-endBalance in year-begin
Deductible temporary differenceDeferred income tax assetsDeductible temporary differenceDeferred income tax assets
Provision for asset impairments847,188,867210,170,974845,364,196209,714,804
Intra-group transactions586,188,866146,547,217609,736,237152,434,059
Deductible losses1,880,091,627470,022,9072,632,357,788658,089,447
Employee benefits payable327,611,84881,902,962327,611,84881,902,962
Lease Liabilities1,947,504,521472,585,6051,947,504,521472,585,605
Depreciation of fixed assets272,188,03167,127,977272,188,03167,127,977
Other307,532,17176,883,042300,291,68075,072,919
Total6,168,305,9311,525,240,6846,935,054,3011,716,927,773

(2)Details of the un-recognized deferred income tax liabilities

In RMB

ItemsBalance in year-endBalance in year-begin
Temporarily Deductable or Taxable DifferenceDeferred Income Tax liabilitiesTemporarily Deductable or Taxable DifferenceDeferred Income Tax liabilities
Non-same control enterprise merger assets evaluation and appreciation200,484,77250,121,192212,157,07753,039,268
Changes in fair value of other equity instruments00
Changes in fair value of other creditor's rights Investment1,493,045,293373,261,3241,924,184,430481,046,108
Right to use assets1,599,047,127350,867,0121,599,047,127350,867,012
Depreciation of fixed assets85,635,97721,408,99578,376,25619,594,064
Amortization of land use rights14,919,0523,729,76314,919,0523,729,763
Interest receivable9,336,5002,334,1259,336,5002,334,125
Total3,402,468,721801,722,4113,838,020,442910,610,340

(3) Deferred income tax assets or liabilities listed by net amount after off-set

In RMB

ItemsTrade-off between the deferred income tax assets and liabilitiesEnd balance of deferred income tax assets or liabilities after off-setTrade-off between the deferred income tax assets and liabilities at period-beginOpening balance of deferred income tax assets or liabilities after off-set
Deferred income tax assets383,616,9491,141,623,735383,616,9491,333,310,824
Deferred income liabilities383,616,949418,105,462383,616,949526,993,391

(4)Details of income tax assets not recognized

In RMB

ItemsBalance in year-endBalance in year-begin
Deductible temporary difference3,264,132,5843,261,717,610
Deductible loss11,702,358,85711,025,236,426
Total14,966,491,44114,286,954,036

(5)Deductible losses of the un-recognized deferred income tax asset will expire in the following years

In RMB

YearBalance in year-endBalance in year-beginRemark
2024173,024,661
2025760,600,486760,600,486
20263,861,702,2183,861,702,218
20274,654,713,2104,654,713,210
20281,575,195,8511,575,195,851
2029850,147,0920
Total11,702,358,85711,025,236,426

30. Other non-current assets

In RMB

ItemsBalance in year-endBalance in year-begin
Book balanceProvision for devaluationBook valueBook balanceProvision for devaluationBook value
Prepayments for equipment fund6,126,833,8146,126,833,8144,859,350,9104,859,350,910
Input VAT to be deducted3,545,257,7833,545,257,7833,518,523,4283,518,523,428
Prepayment for equity acquisition498,006,000498,006,000274,626,000274,626,000
Prepayment for land use rights169,020,877169,020,877165,746,353165,746,353
Other6,599,0656,599,0656,576,3576,576,357
Total10,345,717,539010,345,717,5398,824,823,04808,824,823,048

31. Assets with restricted ownership or right to use

In RMB

ItemgEnd of periodBeginning of period
Book balanceBook valueRestricted typeRestricted circumstanceBook balanceBook valueRestricted typeRestricted circumstance
Monetary funds21,411,91721,411,917Asset restrictionMainly for ecological protection deposit and performance bond deposit35,788,14635,788,146Asset restrictionMainly for ecological protection deposit and performance bond deposit
Right-to-use assets10,464,472,7628,730,686,717Asset restrictionRight-to-use assets formed by financing lease-in10,316,194,6998,898,938,740Asset restrictionRight-to-use assets formed by financing lease-in
Total10,485,884,6798,752,098,63410,351,982,8458,934,726,886

Other note

32. Short-term borrowings

(1) Category of short-term borrowings

In RMB

ItemsClosing balanceOpening balance
Credit loans17,020,331,81815,756,979,762
Total17,020,331,81815,756,979,762

Note：

(2) Overdue outstanding short-term loans

Total 0 Yuan overdue outstanding short-term loans at period-end, including the followed significant amount

33. Transactional financial liabilities

Not applicable

34. Derivative financial liability

In RMB

ItemsClosing balanceOpening balance
Total00

Other note

35.Notes payable

In RMB

ItemsClosing balanceOpening balance
Commercial acceptance160,000,000695,000,000
Bank acceptance bills240,000,00060,000,000
LC50,000,0000
Total450,000,000755,000,000

The total amount of notes payable that were due and unpaid at the end of the period was $0. The reason forthe due and unpaid amount was nil.

36. Accounts payable

(1) List of accounts payable

In RMB

ItemsClosing balanceOpening balance
Fuel payable4,113,366,7013,336,450,897
Materials and spare parts payable644,666,171635,035,016
Repair expenses payable171,682,216220,484,221
Contracted operation expenses payable101,398,018118,816,771
Desulphurisation and denitrification fees payable141,850,703104,174,355
Management fees payable for frequency modulation and energy storage19,212,76843,473,789
Other17,086,19875,775,621
Total5,209,262,7754,430,036,315

（2）Significant accounts payable that aged over one year

In RMB

ItemsClosing balanceOpening balance
Fuel payable and freight payable176,796,599Not yet settled
Total176,796,599

Other note：

As at 30 June 2024, accounts payable with ageing over one year amounted RMB176,796,599( December 31，2023: RMB113,747,802), mainly unsettled fuel payable

37.Other payable

In RMB

ItemsClosing balanceOpening balance
Interest payable00
Dividend payable8,445,3718,445,371
Other payable12,786,329,75013,243,645,377
Total12,794,775,12113,252,090,748

（1） Interest payable

In RMB

ItemsClosing balanceOpening balance
Total00

Important overdue interest

Not applicable

（2）Dividend Payable

Not applicable

（3）Other payable

1）Disclosure by nature

In RMB

ItemsClosing balanceOpening balance
Construction and equipment expenses payable11,489,264,30011,925,594,043
Engineering quality guarantee payable148,221,451445,866,489
Carbon emission allowances payable348,611,022357,696,647
Advances payable to third parties11,650,66030,759,086
Land compensation177,384,900177,384,900
Other619,642,788314,789,583
Total12,794,775,12113,252,090,748

2) Other payables with large amount and aging of over one year

In RMB

ItemsClosing balanceReason
Construction and equipment expenses payable, Engineering quality guarantee payable2,098,037,620Failure to meet payment terms
Total2,098,037,620

Other noteAs at 31 June 30, 2024, other payables of RMB 2,098,037,620 (31 December 2023: RMB3,536,804,485) aged over one year mainly represented construction and equipment expenses payable andwarranty payable not being settled because the comprehensive acceptance and settlement of relevantprojects were yet to be completed or projects were still within their warranty periods.

38. Advance from customers

(1) List of Advance from customers

In RMB

Land advance payment ItemsClosing balanceOpening balance
Total00

（2）Significant payable aging more than 1 year

Not applicable

39.Contract Liabilities

In RMB

ItemsClosing balanceOpening balance
Pre-charge external fee38,975,97536,238,532
Advance service payment1,949,9892,219,740
Other1,207,5922,869,861
Total42,133,55641,328,133

Major contract liabilities with over one yearNot applicable

Significant changes in the book value in the current periodNot applicable

40.Payable Employee wage

(1) List of Payroll payable

In RMB

ItemsBalance in year-beginIncrease in this perioddecrease in this periodBalance in year-end
1.Short-term compensation390,720,3411,331,043,9611,016,449,580705,314,722
2.Post-employment benefits - defined contribution plans3,085,162196,302,226189,822,5949,564,794
3.Dismissal welfare153,788,07827,783,770118,758,84262,813,006
4. Other benefits due within one year8,921,9863,574,2535,808,5986,687,641
Total556,515,5671,558,704,2101,330,839,614784,380,163

（2）Short-term remuneration

In RMB

ItemsBalance in year-beginIncrease in this perioddecrease in this periodBalance in year-end
1.Wages, bonuses, allowances and subsidies2,399,430955,573,414698,178,280259,794,564
2.Employee welfare3,985,14885,364,58670,312,41319,037,321
3. Social insurance premiums228,055,04197,185,23776,425,028248,815,250
Including：Medical insurance228,055,04190,408,04769,786,875248,676,213
Work injury insurance05,912,8785,818,87194,007
Maternity insurance0864,312819,28245,030
4. Public reserves for housing83,844100,027,03696,559,1573,551,723
5.Union funds and staff education fee146,008,82538,100,89734,819,019149,290,703
6. Short-term paid absence000
7. Short-term profit-sharing plan000
8. Other short-term remuneration10,188,05354,792,79140,155,68324,825,161
Total390,720,3411,331,043,9611,016,449,580705,314,722

（3）Defined contribution plans listed

In RMB

ItemsBalance in year-beginIncrease in this periodPayable in this periodBalance in year-end
1. Basic old-age49,334121,989,382117,925,1394,113,577
insurance premiums
2.Unemployment insurance7,2466,952,2796,717,232242,293
3. Annuity payment3,028,58267,360,56565,180,2235,208,924
Total3,085,162196,302,226189,822,5949,564,794

4.Tax Payable

In RMB

ItemsClosing balanceOpening balance
VAT73,786,023100,339,967
Enterprise Income tax142,046,633170,701,728
Individual Income tax1,740,42631,654,416
City Construction tax4,076,9256,102,566
House property Tax32,488,90512,232,259
Education surcharges2,997,9554,673,903
Land use tax8,749,1902,803,005
Other6,648,29814,925,036
Total272,534,355343,432,880

42. Liabilities classified as holding for sale

In RMB

ItemsClosing balanceOpening balance
Total00

43.Non-current liabilities due within 1 year

In RMB

ItemsClosing balanceOpening balance
Long-term loans due in 1 year3,313,502,7423,769,932,656
Bond payable due in 1 year3,841,227,7354,860,692,008
Long-term Account payable due in 1 year19,933,73326,861,057
Lease liabilities due in 1 year263,778,137268,887,650
Total7,438,442,3478,926,373,371

44. Other current-liabilities

In RMB

ItemsClosing balanceOpening balance
Short-term bond payable1,003,680,0002,011,102,192
Output VAT to be written off701,736,011770,253,279
Total1,705,416,0112,781,355,471

Changes in short-term debentures payable：

In RMB

BondFace valueInterest rateIssuance dateMaturity periodIssuance amountsBalance at the beginning of the yearIssuance during the yearInterest at face valueRepayment for the periodBalance at the end of the yearWhether default
24 Yudean Fa SCP0011,000,000,0001.84%April 18,2024180 days1,000,000,0001,000,000,0003,680,0001,003,680,000No
23 Yudean Fa SCP0011,000,000,0002.13%July 25, 2023177 days1,000,000,0001,009,278,6301,022,1901,010,300,820No
23 Yudean Fa SCP0021,000,000,0002.56%December 5, 2023177 days1,000,000,0001,001,823,56210,590,6851,012,414,247No
Total1,000,000,0001,000,000,0003,680,0001,003,680,000

45.Long-term borrowings

（1）Long-term borrowings

InRMB

ItemsClosing balanceOpening balance
Pledged borrowings4,785,320,3104,900,917,333
Guarantee loan1,837,874,5441,648,755,057
Credit loans60,614,016,35556,282,798,950
Total67,237,211,20962,832,471,340

Explanation on category of long-term loans:

Not applicableOther note: including interest rate sectionNot applicable

46.Bond payable

（1）Bond payable

In RMB

ItemsClosing balanceOpening balance
2023 MTN (Phase I) of Guangdong Electric Power Development Co., Ltd.1,598,727,0441,598,553,459
Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase II) by Guangdong Electric Power Development Co., Ltd.124,940,5661,499,923,584
2022 MTN (Phase I) of Guangdong Electric Power Development Co., Ltd.599,005,189598,843,869
Public Issuance of Corporate Bonds to Professional Investors in 2021 (Phase III) of Guandong Electric Power Development Co.,Ltd.799,823,899799,786,164
2024 MTN (Phase I) of Guangdong Electric Power Development Co., Ltd.998,877,0710
Public Issuance of Green Corporate Bonds to Qualified Investors in 2023 (Phase I) by Guangdong Wind Power Generation Co., Ltd599,534,556599,490,107
Total4,720,908,3255,096,597,183

（2）Changes of bonds payable(Not including the other financial instrument of preferred stock and perpetual capital securities that classify asfinancial liability

In RMB

BondFace valueInterest rateBond periodIssuing amountOpening balanceIssued in the PeriodAccrual interest by face valuePremium/discount amortizatiPaid in the PeriodTransfer out to non-currentClosing balanceWhether default
onliabilities due within one yea
Guangdong Power Development Company Limited 2024 First Tranche Medium Term Notes1,000,000,0002.41%5years1,000,000,0001,000,000,0002,536,553-1,122,930-2,536,553998,877,070No
Guangdong Electric Power Development Company2,200,000,0003.13%3years2,200,000,00034,430,000591,509-35,021,509No
Limited 2021 Second Tranche Medium Term Notes
Guangdong Electric Power Development Company Limited 2021 First Tranche Medium Term Notes1,000,000,0003.57%3years1,000,000,0002,479,167-2,479,167No
Guangdong Electric Power Development Company Limited 2021 First Tranche Medium Term Notes1,500,000,0003.50%3+2years1,500,000,0001,499,923,58417,544,15016,981-1,375,000,000-17,544,150124,940,564No
Guangdong Electric Power Development Company Limited1,200,000,0003.17%3years1,200,000,00019,020,000322,642-19,342,642No
2022 First Tranche Medium Term Notes
Guangdong Electric Power Development Company Limited 2021 Public Offering of Corporate Bonds to Qualified Investors (First Issue)600,000,0002.90%5years600,000,000598,843,8698,700,000161,321-8,700,000599,005,190No
Guangdong Electric Power Development800,000,0003.41%5years800,000,000799,786,16413,640,00037,736-13,640,000799,823,900No
Company Limited 2021 Public Offering of Corporate Bonds to Qualified Investors (Second Issue)
Guangdong Electric Power Development Company Limited 2021 Public Offering of Corporate Bonds to Professional Investors (Phase I)1,600,000,0003.35%5years1,600,000,0001,598,553,45926,800,000173,585-26,800,0001,598,727,044No
Guangdong600,000,0003.15%3+2years600,000,000599,490,1079,494,45044,450-9,494,450599,534,557No
Wind Power Development Co., Ltd. 2023 Public Offering of Green Corporate Bonds to Professional Investors (Phase I) (Variety II)
Guangdong Huizhou Pinghai Power Plant Co., Ltd. 2021 Medium-300,000,0003.72%3years300,000,0005,564,712157,937-5,722,649No
Term Notes (Sustainably Linked), Tranche 1
Total10,800,000,0005,096,597,1831,000,000,000140,209,032383,230-1,375,000,000-141,281,1204,720,908,325

(3) Note to conditions and time of share transfer of convertible bondsNot applicable

（4）Other financial instruments that are classified as financial liabilitiesNot applicable

47. Lease liability

In RMB

ItemsClosing balanceOpening balance
Net lease liabilities10,546,756,61110,452,666,128
Total10,546,756,61110,452,666,128

48. Long-term payable

In RMB

ItemsClosing balanceOpening balance
Long-term payable804,395,556831,250,905
Special payable24,960,00024,960,000
Total829,355,556856,210,905

(1) Long-term payable listed by nature of the account

In RMB

ItemsClosing balanceOpening balance
Equipment and construction expenses payable435,278,506447,389,040
Sea area usage fee payable389,050,783410,722,922
Less：Long-term payables due due within one year-19,933,733-26,861,057
Total804,395,556831,250,905

（2）Specific payable

In RMB

ItemsOpening balanceIncreaseDecreaseClosing balanceCause
Supporting funds for expansion24,960,00024,960,000Supporting funds for expansion
Total24,960,00024,960,000

The payables for specific projects represent the fund granted for benefits improvement and capacityexpansion by governments at provincial and central level to Lincang Energy, subsidiary of the Company.According to the document issued by Yunnan Water Conservancy & Hydropower Investment Co., Ltd. (YunShui Tou Fa [2015] No. 16), such payables for specific project were subject to an interest rate of 4% from 1January 2015. The corresponding interest was recorded in the financial expenses by the Company.

49. Long-term employee salary payable

（1）Long-term employee salary payable

In RMB

ItemsClosing balanceOpening balance
I.Post-employment benefits - defined contribution plans120,297,532123,693,321
II. Dismissal benefits357,079,803371,362,693
III.Other long-term benefits13,993,78513,993,785
Total491,371,120509,049,799

(2) Changes of defined benefit plans

Present value of the defined benefit plan's obligations:

Not applicable

Net liabilities (net assets) of the defined benefit planNot applicableExplanation of the content of the defined benefit plan and its related risks, as well as the impacton the Company's future cash flows, time, and uncertainty:

Not applicableExplanation of significant actuarial assumptions and sensitivity analysis results for the definedbenefit plan:

Not applicable

50.Predicted liabilities

In RMB

ItemsClosing balanceOpening balanceReason
Total00

Other explanations, including relevant important assumption and estimation explanations ofimportant estimated liabilities:

Not applicable

51.Deferred income

In RMB

ItemsBeginning of termIncreased this termDecreased this termEnd of termReason
Government Subsidy128,296,225850,4953,971,808125,174,912Asset-related government grants received
Total128,296,225850,4953,971,808125,174,912

Other note：

ItemsBeginning of termNew subsidy in current periodAmount transferred to non-operational incomeOther income recorded in the current periodAmount of cost deducted in the current periodOther changesEnd of termAsset-related or income-related
Guangqian Electric Power Company - denitrification subsidy12,500,060651,78411,848,276Asset-related
Special treasury bonds for desulfurization project9,394,907671,0658,723,842Asset-related
Unit 5 and Unit 6 Wastewater Treatment System Upgrading Technical Transformation Project8,692,892-8,692,892Asset-related
Special fund from the Department of Natural Resources of Guangdong Province6,500,000-6,500,000Asset-related
Shaoguan Power Plant - 2021 Provincial Special Enterprise Technological Transformation Fund6,491,036363,9836,127,053Asset-related
Dapu Power Generation Company - the second batch of5,400,000-5,400,000Asset-related
incentive funds of 2015 Meizhou City's first batch of energy conservation and emission reduction fiscal policy comprehensive demonstration projects
Zhanjiang Zhongyue Energy Co., Ltd. - #1 and #2 generator set steam turbine energy-saving comprehensive technical transformation project5,384,615-5,384,615Asset-related
Xuwen Company - Provincial Reform and Development Fund Project4,666,667-4,666,667Asset-related
Special funds for the ultra-low emission technical transformation of No. 5 and No. 6 units4,511,170-4,511,170Asset-related
Yuehua SCR Engineering Grant from Environmental Protection Bureau4,030,297-4,030,297Asset-related
Red Bay Power Generation Company - Unit 1 and unit 2 ultra-low emission after-the-fact reward and subsidy3,746,383-3,746,383Asset-related
Yuehua - # 6 Unit Flow Part Energy Saving and Consumption Reduction Appropriation3,742,349-3,742,349Asset-related
Shaoguan Power Plant - 2016 Central Government Energy Conservation and Emission Reduction Funds Used for Policy Liquidation in Previous Years, No. 88(2016) Shaocai3,798,561414,3883,384,173Asset-related
Zhanjiang Zhongyue Energy Co., Ltd. - special fund for motor energy efficiency improvement3,327,547-3,327,547Asset-related
Yuehua - Comprehensive Technical Transformation and Upgrading Project for Units # 5 and # 63,147,648-3,147,648Asset-related
Other42,962,093656,4431,870,58741,747,949Asset-related
Other194,051194,051Income-related
Total128,296,225850,4943,971,807125,174,912

52. Other non-current liabilities

In RMB

ItemsClosing balanceOpening balance
Capital injection50,000,000
Housing revolving fund1,028,1671,028,167
Total1,028,16751,028,167

53.Stock capital

In RMB

Year-beginning balanceChanged（+，-）Balance in year-end
Issuance of new shareBonus sharesCapitalization of public reserveOtherSubtotal
Total of shares5,250,283,986000005,250,283,986

54. Other equity instruments

(1) Basic information of preferred stock, perpetual capital securities and other financialinstruments outstanding issued at period-endNot applicable

(2) Change list of preferred stock, perpetual capital securities and other financial instrumentsoutstanding issued at period-end

In RMB

Outstanding financial instrumentPeriod-beginCurrent increasedCurrent decreasedPeriod-end
AmountBook valueAmountBook valueAmountBook valueAmountBook value
Total00

55. Capital reserves

In RMB

ItemsYear-beginning balanceIncrease in the current periodDecrease in the current periodYear-end balance
Share premium4,909,980,9992,1293,893,3364,906,089,792
Other capital reserves-76,905,77400-76,905,774
Appraisal of appreciation119,593,71800119,593,718
Interest in investee in proportion to shareholding-165,570,73113,910,2870-151,660,444
Input from Guangdong Energy Group Company395,000,00000395,000,000
Transfer from capital surplus of the original system20,474,5920020,474,592
Total5,202,572,80413,912,4173,893,3365,212,591,885

Other explanations, including the increase or decrease in this period and the reasons for suchchange:

Not applicable。

56.Treasury stock

In RMB

ItemsYear-beginning balanceIncrease in the current periodDecrease in the current periodYear-end balance
Total00

Other explanations, including the increase or decrease in this period and the reasons for suchchange:

Not applicable。

57. Other comprehensive income

In RMB

ItemsYear-beginning balanceAmount of current periodClosing balance
Amount incurred before income taxLess：Amount transferred into profit and loss in the current period that recognied into other comprehensive income in prior periodLess：Prior period included in other composite income transfer to retained income in the current periodLess：Income tax expensesAfter-tax attribute to the parent companyAfter-tax attribute to minority shareholder
I. Other comprehensive income that will not be subsequently reclassified to profit or loss1,493,553,365-427,386,10600-107,784,785-319,601,32101,173,952,044
Including: Changes arising from remeasurement of defined benefit plans-49,731,90600000-49,731,906
Other100,424,3653,753,0320003,753,032104,177,397
comprehensive income that cannot be transferred to profit or loss under equity method
Changes in fair value of investments in other equity instruments1,442,860,906-431,139,13800-107,784,785-323,354,3531,119,506,553
II. Other comprehensive income that will be subsequently reclassified to profit or loss1,684,325171,795000171,79501,856,120
Including：Share of other comprehensive income of the investee that cannot be transferred to profit or loss accounted for using the equity method1,684,325171,795000171,7951,856,120
Changes in the fair value of other debt investments000000

Other explanations, including the adjustment of the effective part of cash flow hedging profit and lossto the initial recognition amount of the hedged item:

The amount of financial assets reclassified into other comprehensive income0000000
Other credit impairment provisions for debt investment0000000
Cash flow hedging reserves0000000
Balance in translation of foreign currency financial statements0000000
Total of other comprehensive income1,495,237,690-427,214,31100-107,784,785-319,429,52601,175,808,164

58. Special reserves

In RMB

ItemsYear-beginning balanceIncrease in the current periodDecrease in the current periodYear-end balance
Safety in production6,375,889193,830,276143,475,60856,730,557
Total6,375,889193,830,276143,475,60856,730,557

Other explanations, including the increase or decrease in this period and the reasons for suchchange:

Not applicable。

59. Surplus reserves

In RMB

ItemsYear-beginning balanceIncrease in the current periodDecrease in the current periodYear-end balance
Statutory surplus reserve3,016,893,8703,016,893,870
Discretionary surplus reserve5,886,621,2655,886,621,265
Total8,903,515,1358,903,515,135

Explanation: including changes and reasons for changes

Not applicable

60. Retained profit

In RMB

ItemCurrent periodPrior period
Retained profit at period-end before adjustment1,283,749,956200,668,517
Total of undistributed profits at the beginning of the adjustment period0108,421,140
Retained profit at period-begin after adjustment1,283,749,956309,089,657
Add: net profit attributable to shareholders of parent company for this year902,938,860856,538,633
Less: withdraw of statutory surplus reserve00
Withdraw of discretionary surplus00
reserve
Withdraw of general risk provision00
Dividend payable for ordinary shares105,005,6800
Dividend of ordinary shares transferred to share capital00
Retained profit at the end of this term2,081,683,1361,165,628,290

As regards the details of adjusted the beginning undistributed profits

(1)As the retroactive adjustment on Enterprise Accounting Standards and its related new regulations,the affected beginning undistributed profits are RMB 0.

(2) As the change of the accounting policy, the affected beginning undistributed profits are RMB 0.

(3) As the correction of significant accounting error, the affected beginning undistributed profits areRMB 0 .

(4) As the change of consolidation scope caused by the same control, the affected beginningundistributed profits are RMB 0

(5) Other adjustment of the total affected beginning undistributed profits are RMB 0 .

61. Business income, Business cost

In RMB

ItemsAmount of current periodAmount of previous period
IncomeCostIncomeCost
Main business25,944,529,40422,502,230,24728,177,515,35325,146,455,159
Other business134,261,567105,374,482163,325,53111,454,398
Total26,078,790,97122,607,604,72928,340,840,88425,157,909,557

Income related information:

In RMB

Contract classificationDivision 1Division 2Total
IncomeCostIncomeCostIncomeCost
Business26,078,790,97122,607,604,72926,078,790,97122,607,604,729
Including：
Electricity25,734,992,70322,358,121,71625,734,992,70322,358,121,716
Desulfurization & Denitrification Payable71,679,65611,955,39771,679,65611,955,397
Fly Ash Revenue158,977,001143,739,815158,977,001143,739,815
Heat Sales113,141,61193,787,801113,141,61193,787,801
Area26,078,790,97122,607,604,72926,078,790,97122,607,604,729
Including：
Guangdong25,222,008,96921,889,282,78225,222,008,96921,889,282,782
Xinjiang592,499,860542,630,201592,499,860542,630,201
Hunan49,432,63243,884,19849,432,63243,884,198
Hebei43,562,60622,647,21543,562,60622,647,215
Guangxi55,975,99127,487,14955,975,99127,487,149
Yunnan30,094,27217,162,06130,094,27217,162,061
Henan18,907,25310,267,96418,907,25310,267,964
Shangdong15,532,1308,876,08015,532,1308,876,080
Inner Mongolia21,887,8145,791,34621,887,8145,791,346
Gansu8,053,22726,237,6678,053,22726,237,667
Anhui20,836,21713,338,06620,836,21713,338,066
Market type26,078,790,97122,607,604,72926,078,790,97122,607,604,729
Including
Power market25,734,992,70322,358,121,71625,734,992,70322,358,121,716
Other market343,798,268249,483,013343,798,268249,483,013
Contract type26,078,790,97122,607,604,72926,078,790,97122,607,604,729
Including
Sell goods25,965,649,36022,513,816,92825,965,649,36022,513,816,928
Labour Service93,241,42888,385,46993,241,42888,385,469
Assets use rights19,900,1835,402,33219,900,1835,402,332
By the time of commodity transfer26,078,790,97122,607,604,72926,078,790,97122,607,604,729
Including
Recognize at a certain time point25,972,009,32322,453,919,65225,972,009,32322,453,919,652
Recognize in a certain period of time106,781,648153,685,077106,781,648153,685,077
Constrict term
Including
General contract
Sales channel
Including
Total26,078,790,97122,607,604,72926,078,790,97122,607,604,729

Information related to performance obligations:

ItemThe time to fulfill the performance obligationImportant payment termsThe nature of the goods that the company promises to transferWhether it is the main responsible personThe expected refunds to customers borne by the companyThe types of quality assurance provided by the company
and related obligations
Electric powerJune 30,2024Cash settlement/monthly settlementElectric powerYesNot applicableAccording to the industry warranty
Heat energyJune 30,2024Cash settlement/monthly settlementHeat energyYesNot applicableAccording to the industry warranty
Power generation by-productsJune 30,2024Cash settlement/monthly settlementPower generation by-productsYesNot applicableAccording to the industry warranty
Labor serviceJune 30,2024Cash settlement/monthly settlementLabor serviceYesNot applicableAccording to the industry warranty

Information related to the transaction price apportioned to the residual performance obligation:

The income corresponding to the performance obligations that have not been performed or have beenperformed incompletely but the contract has been signed at the end of the reporting period isRMB340,908,709, of which RMB218,626,656 is expected to be recognized as income in 2024,RMB58,654,185 is expected to be recognized as income in 2025, RMB63,627,868 is expected to berecognized as income in 2026.Information related to variable consideration in the contract:

Not applicable

Major contract changes or major transaction price adjustments:

Not applicable

62. Business tax and subjoin

In RMB

ItemsAmount of current periodAmount of previous period
Urban construction tax37,209,89120,982,925
Education surcharge30,069,73017,013,685
Property tax36,335,86830,411,494
Land use tax11,456,4328,191,136
vehicle and vessel usage tax91,730100,952
Stamp tax16,171,10117,244,729
Environmental protection tax5,749,5957,137,908
Other3,719,5041,753,156
Total140,803,851102,835,985

63.Administrative expenses

In RMB

ItemsAmount of current periodAmount of previous period
Employee’s remuneration366,908,237342,670,104
Amortization of intangible assets44,730,39139,695,165
Depreciation expenses40,644,09244,290,298
Fire safety expenses24,783,11022,669,873
Property management expenses21,195,95118,466,436
Long-term deferred amortization of expenses21,017,353789,159
Agency fee9,481,50110,693,421
Publicity expense8,529,4491,786,244
Rental expenses8,052,2604,378,274
A forestation fees6,489,1936,278,013
Travel expenses5,859,0786,805,399
Repair fee5,395,1815,354,288
Office expenses4,494,9634,172,104
Consulting fee4,490,6903,837,134
Information system maintenance fee3,309,8252,803,178
Business Hospitality2,215,4553,446,976
Insurance premiums854,2911,502,305
Amortisation of low value consumables661,7081,232,497
Board of Directors' fees285,541204,352
Other37,442,51539,100,220
Total612,823,789553,789,310

Other note

64.Selling expenses

In RMB

ItemsAmount of current periodAmount of previous period
Employee’s remuneration38,292,16226,991,664
Business expense1,035,9431,506,634
Depreciation expenses332,8591,586,470
Publicity Expenses227,859499,576
Other3,923,5835,008,033
Total43,812,40635,592,377

65. R&D Expense

In RMB

ItemsAmount of current periodAmount of previous period
Direct input fee214,683,952309,968,136
Employee’s remuneration58,717,73684,778,704
Other46,443,64167,056,940
Outsourced research and development expenses3,331,3184,809,871
Total323,176,647466,613,651

66.Financial Expenses

In RMB

ItemsAmount of current periodAmount of previous period
Interest expenses1,215,356,5851,192,393,983
Interest income-91,313,895-53,610,047
Bank charges and others11,973,5707,673,204
Total1,136,016,2601,146,457,140

67.Other income

In RMB

Other sources of revenueAmount of the Current TermAmount of the Previous Term
Revenue from timely levy and refund of VAT16,007,40612,915,790
Amortization of the deferred income related to the assets3,971,8087,315,658
Other7,574,5375,914,699

68.Net exposure hedging income

In RMB

ItemsAmount of the Current TermAmount of the Previous Term
Total00

69. Gains on the changes in the fair value

In RMB

ItemsAmount of the Current TermAmount of the Previous Term
Total00

70. Investment income

In RMB

ItemsAmount of this periodAmount of last period
Long-term equity investment432,959,549518,414,902
income by equity method
Dividends earned during the holding period on investments in other equity instrument112,589,720117,258,950
Other467,255
Total545,549,269636,141,107

71. Credit impairment loss

In RMB

ItemsAmount of this periodAmount of last period
Loss of bad accounts receivable-6,206,97560,337
Loss of bad debts in other receivables1,966,427-628,072
Total-4,240,548-567,735

72. Losses from asset impairment

In RMB

ItemsAmount of this periodAmount of last period
IV. Impairment loss of fixed assets-2,060-5,052,018
Total-2,060-5,052,018

Other note

73.Assets disposal income

In RMB

74. Non-Operation income

In RMB

ItemsAmount of current periodAmount of previous periodRecorded in the amount of the non-recurring gains and losses
Gain on disposal of non-current assets10,103,4802,724,56410,103,480
A fine net income2,033,0201,284,1292,033,020

Source

SourceAmount of this periodAmount of last period
Retirement of fixed assets0-1,988,902
Other10,4350
Income from carbon emission quota trading1,881,6352,520,8631,881,635
liquidated damages income1,858,5081,546,7211,858,508
Claims and Compensation Income372,6686,701,756372,668
Other60,348,2355,952,30660,348,235
Total76,597,54620,730,33976,597,546

75.Non-current expenses

In RMB

ItemsAmount of current periodAmount of previous periodThe amount of non-operating gains & losses
Foreign donations114,856120,067114,856
Carbon emission allowances used to fulfil the emission reduction obligation150,950,75500
Loss on obsolescence of non-current assets9,701,6649,754,7769,701,664
Fine for delaying payment5,782,9763,664,9295,782,976
Other19,744,5712,885,31519,744,571
Total186,294,82216,425,08735,344,067

76. Income tax expenses

（1）Income tax expenses

In RMB

ItemsAmount of current periodAmount of previous period
Current income tax expense252,861,744394,242,693
Deferred income tax expense190,583,945-28,862,131
Total443,445,689365,380,562

（2）Adjustment on accounting profit and income tax expenses

In RMB

ItemsAmount of current period
Total profits1,673,726,860
Income tax expenses calculated on legal / applicable tax rate418,431,715
Effect of different tax rate applicable to the subsidiary Company-4,907,111.51
Impact of adjusting the income tax of prior period1,870,072
Influence of non taxable income-108,239,887.25
Impact of non-deductible costs, expenses and losses223,531.82
Utilisation of previously unrecognised deductible losses or temporary differences-77,073,888.06
Utilisation of deductible temporary differences for which no deferred tax asset was recognised in previous periods213,141,257
Income tax expenses443,445,689

77. Other comprehensive income

Refer to the notes VII(57)

78. Items of cash flow statement

(1) Cash related to business activities

Cash received from other activities relating to operation

In RMB

ItemsAmount of current periodAmount of previous period
Interest income49,472,94552,478,188
Government Subsidy3,629,3407,460,673
Claims and compensation income27,205,50233,501,204
Rental fee16,994,29820,310,210
Return the fuel advance payment111,566,7390
Other190,544,165119,036,664
Total399,412,989232,786,939

Explanation on other cash received in relation to operation activities:

Other cash paid in relation to operation activities

In RMB

ItemsAmount of current periodAmount of previous period
Carbon emission quota and trading reserve fund119,438,11735,891,997
Information system maintenance fee60,613,4158,828,196
Repair and maintenance costs47,789,6966,798,695
Insurance premium42,749,75550,189,015
Water and electricity35,711,83645,584,565
Intensive service fee34,063,4440
Property management service fee31,977,20418,682,257
Fire-fighting and security fees29,893,35029,133,224
Fees for employing intermediary agencies21,670,33312,231,023
Equipment cleaning, sanitation and greening fees17,028,71413,165,075
Auxiliary service fee for energy storage and frequency regulation16,779,2380
Automobile fee12,874,85712,778,900
Rental fee12,017,47915,564,043
Travel expense8,228,2149,853,730
Labour union fee6,613,7456,907,063
Office fee6,187,5495,976,060
Business fee3,101,1894,323,743
Enterprise propagate fee3,068,4583,070,543
R & D2,889,70820,588,480
Other523,765,059321,788,216
Total1,002,397,916621,354,825

Explanation on other cash paid in relation to operation activities:

Not applicable

（2）Cash related to Investment activities

Cash receivable related to other Investment activities

In RMB

ItemsAmount of current periodAmount of previous period
Take back the large deposit certificate of the finance Company400,000,0000
Other209,9300
Total400,209,9300

Related for important cash related to investment activities

In RMB

ItemsAmount of current periodAmount of previous period
Take back the large deposit certificate of the finance Company400,000,000
Total400,000,000

Explanation on other cash received from investment activities:

Not applicableCash paid related with investment activities

In RMB

ItemsAmount of current periodAmount of previous period
Equity acquisition deposit223,380,0000
Other318,1000
Total223,698,1000

Important cash received in relation to the investment activities

In RMB

ItemsAmount of current periodAmount of previous period
Equity Acquisition Project of Xiangzhou Yunjiang New Energy Co., Ltd.52,200,000
Equity Acquisition Project of Xiangzhou Hangjing New Energy Co., Ltd.99,180,000
Equity Acquisition Project of Kekdalazfo New Energy Co., Ltd.72,000,000
Total223,380,000

Explanation of other cash payments related to fund-raising activities:

Not applicable

（3）Cash related to Financing activities

Other cash received in relation to financing activities

In RMB

ItemCurrent period incurredPrior period incurred
Total00

Explanation on other cash received in relation to financing activities:

Not applicableOther cash paid related with financing activities

In RMB

ItemCurrent period incurredPrior period incurred
Repayments of lease liabilities and long-term payables307,846,245360,504,971
Pay to minority shareholders for capital reductio01,023,668,493
Other58,127,81884,106,150
Total365,974,0631,468,279,614

Explanation on other cash paid related with financing activities:

Changes in various liabilities arising from fund-raising activities

□Applicable ?Not applicable

(4) Statement of cash flows on a net basis

Not applicable

(5) Major activities and financial impacts that do not involve cash receipts and expenditures in thecurrent period, but affect the financial position of the enterprise or may affect the cash flow of theenterprise in the futureNot applicable

79. Supplementary information to statement of cash flow

(1) Supplementary information to statement of cash flow

In RMB

Supplementary informationCurrent amountAmount of the previous period
1．Net profit adjusted to cash flow of operation activities:
Net profit1,230,281,1711,171,246,153
Add: Assets impairment provision4,242,608567,735
Depreciation of fixed assets, consumption of oil assets and depreciation of productive biology assets3,154,045,5982,426,875,827
Depreciation of right-of-use assets303,483,268235,484,882
Amortization of intangible assets62,885,82155,927,883
Amortization of long-term deferred expenses14,446,76724,137,448
Loss from disposal of fixed assets, intangible assets and other long-term assets (gain is listed with “-”)-10,4351,988,902
Losses on scrapping of fixed assets (gain is listed with “-”)-401,8167,030,212
Gain/loss of fair value changes (gain is listed with “-”)00
Financial expenses (gain is listed with “-”)1,215,356,5851,146,457,140
Investment loss (gain is listed with “-”)-545,549,269-636,141,107
Decrease of deferred income tax asset (increase is listed with “-”)191,687,08922,310,364
Increase of deferred income tax-108,887,929-51,172,495
liability (decrease is listed with “-”)
Decrease of inventory (increase is listed with “-”)-1,616,079,923-425,185,713
Decrease of operating receivable accounts (increase is listed with “-”)869,415,221-2,036,882,617
Increase of operating payable accounts (decrease is listed with “-”)1,231,310,315777,725,402
Other
Net cash flow arising from operating activities6,006,225,0712,720,370,016
2. Material investment and financing not involved in cash flow
Conversion of debt into capital
Switching Company bonds due within one year
Financing lease of fixed assets
3. Net change of cash and cash equivalents:
Balance of cash at period end12,013,016,83211,394,942,728
Less: Balance of cash equivalent at year-begin11,954,167,15611,433,808,500
Add: Balance at year-end of cash equivalents
Less: Balance at year-begin of cash equivalents
Net increased amount of cash and cash equivalent58,849,676-38,865,772

(2) Net cash paid for obtaining subsidiary in the Period

Not applicable

(3)Net cash received by disposing subsidiary in the Period

Not applicable

(4) Constitution of cash and cash equivalent

In RMB

ItemEnding balanceOpening balance
I. Cash12,013,016,83211,954,167,156
Including: Cash on hand58,09643,025
Bank deposit available for payment at any time12,012,958,73611,954,124,131
III. Balance of cash and cash equivalents at the period -end12,013,016,83211,954,167,156

(5) Situations where the scope of use is limited but still classified as cash and cash equivalents

Not applicable( 6) Monetary funds that do not belong to cash and cash equivalents

In RMB

ItemAmount of the current periodAmount of the previous periodReason for not belonging to cash and cash equivalents
Accrued interest77,066,00731,424,584Accrued interest of monetary funds
Deposit certificates for finance Company4,000,000,0000Deposit certificate with a maturity of over 1 year held by the Finance Company of the Energy Group
Ecological protection deposit and performance bond deposit21,411,91734,012,265Restricted deposit
Total4,098,477,92465,436,849

(7) Description of other major activities

Not applicable

80. Notes of changes of owners’ equity

Explain the name and adjusted amount in “Other” at end of last period:

Not applicable

81. Foreign currency monetary items

(1) Foreign currency monetary items

In RMB

ItemsClosing foreign currency balanceExchange rateClosing convert to RMB balance
Monetary capital13,707
Including：USD1917.12681,360
Euro00
HKD13,5280.9126812,347
Account receivable
Including：USD
Euro
HKD
Long –term borrowings
Including：USD
Euro
HKD

(2) Note to overseas operating entities, including important overseas operating entities, which shouldbe disclosed about its principal business place, function currency for bookkeeping and basis for thechoice. In case of any change in function currency, the cause should be disclosed.

□ Applicable √ Not applicable

82. Leasing

(1) The Company acts as the lessee

?Applicable □Not applicableVariable lease payments that are not included in the measurement of lease liabilities

□Applicable ?Not applicable

Simplified processing of lease costs for short-term leases or lease for low-value assets

□Applicable ?Not applicable

Cases involving sale-leaseback transactionsNot applicable

(2) The Company acts as the lessor

Operating lease as a lessor?Applicable □Not applicableFinancial lease as a lessor

□Applicable ?Not applicable

Annual undiscounted lease receipts for the next five years

□Applicable ?Not applicable

Adjustment table for undiscounted lease receipts and net lease investments

(3) Recognition of financial lease sales gains and losses as a producer or distributor

□Applicable ?Not applicable

83. Data resources

Not applicable

84.Other

Not applicableVIII. R&D expenditure

1. R&D projects eligible for capitalization

Material capitalized R&D projects

Not applicable

Impairment provision for development expenditure

Not applicable

2.Important outsourcing projects under research

Not applicableIX. Changes of merge scope

1. Business merger not under same control

(1) Business merger not under same control in reporting period

Not applicable

(2) Combination cost and goodwill

Determination method for fair value of the combination cost：

Not applicable

Main reasons for large goodwill resulted:

Not applicable

(3) Identifiable assets and liability on purchasing date under the acquiree

Determination method for fair value of the identifiable assets and liabilities:

Not applicableContingent liability of the acquiree bear during combination:

Not applicable

(4) Gains or losses arising from re-measured by fair value for the equity held before purchasing dateWhether it is a business combination realized by two or more transactions of exchange and atransaction of obtained control rights in the Period or not

□Yes?No

(5) On purchasing date or period-end of the combination, combination consideration or fair value ofidentifiable assets and liability for the acquiree are un-able to confirm rationallyNot applicable

(6) Other Note:

Not applicable

2. Enterprise combine under the same control

(1) Enterprise combined under the same control in the Period

Not applicable

(2) Combination cost

Not applicable

(3) Book value of the assets and liability of the combined party on combination dateNot applicable

3. Counter purchase

Basic transaction information, basis of counter purchase, whether making up business due to the assets

and liability reserved by listed company and basis, determination of combination cost, amount andcalculation on adjusted equity by equity transaction:

Not applicable

4. Subsidiary disposal

Whether lost controlling rights while dispose subsidiary on one time or not

□Yes ?No

Whether lost controlling rights in the Period while dispose subsidiary on two or more steps or not

□Yes?No

5. Other reasons for consolidation range changed

Reasons for changed on consolidation range (such as new subsidiary established, subsidiary liquidatedetc.)And relevant information:

New subsidiaries in this year:

NameMajor business locationPlace of registrationNature of businessRegistered capitalShareholding(%)Acquisition method
DirectIndirect
Yuncheng Wanquan Yuefeng New Energy Co., Ltd.YunchedngYunchedngElectric power122,118,90095%Acquisition of assets
Guangneng Tokeson New Energy Power Generation Co., Ltd.TurpanTurpanElectric power20,000,000100%Establish
Lingao Yehai Yufeng New Energy Co., Ltd.HainanHainanElectric power112,010,000100%Establish

6. Other

X. Equity in other entity

1. Equity in subsidiary

（1）Constitute of enterprise group

In RMB

SubsidiaryRegistered capitalMain operationRegistered placeBusiness natureShare-holding ratioAcquired way
DirectlyIndirectly
Maoming Termal power Plant1,437,985,100MaomingMaomingElectric Power46.54%0%Establish
Jinghai Power Generation2,919,272,000JieyangJieyangElectric Power65%0%Establish
Zhangjiang Wind Power449,420,000ZhanjiangZhanjiangElectric power0%53.51%Establish
Technology Engineeging Company200,000,000DongguanDongguanElectric power100%0%Establish
Humen Power Generation150,000,000DongguanDongguanElectric power60%0%Establish
Bohe Company3,118,000,000MaomingMaomingElectric Power67%0%Establish
Xuwen Wind Power173,190,000ZhanjiangZhanjiangElectric power0%53.51%Establish
Huadu Natural gas497,000,000GuangzhouGuangzhouElectric power65%0%Establish
Dapu Power Generation1,907,100,000MeizhouMeizhouElectric power100%0%Establish
Leizhou Wind Power109,803,900LeizhouLeizhouElectric power0%71.85%Establish
Dianbai Wind Power171,872,900MaomingMaomingElectric power0%76.44%Establish
Zhanjiang Company2,875,440,000ZhanjiangZhanjiangElectric Power0%76%Business combinations involving enterprises under common control
Yuejia Company756,000,000MeizhouMeizhouElectric power58%0%Business combinations involving enterprises under common control
Shaoguan Power Generation1,070,000,000ShaoguanShaoguanElectric power90%0%Business combinations
involving enterprises under common control
Zhongyue Company1,454,300,000ZhanjiangZhanjiangElectric power90%0%Business combinations involving enterprises under common control
Electric sales500,000,000GuangzhouGuangzhouElectric power100%0%Establish
Qujie Wind Power2,519,567,500ZhanjiangZhanjiangElectric power0%75.16%Establish
Yangjiang Wind Power1,192,660,000YangjiangYangjiangElectric power0%69.87%Establish
Lincang Company459,790,000LincangLincangElectric power100%0%Business combinations involving enterprises not under common control
Guangqian Company1,030,292,500ShenzhenShenzhenElectric power100%0%Business combinations involving enterprises under common control
Huizhou Natural gas1,499,347,500HuizhouHuizhouElectric power67%0%Business combinations involving enterprises under common
control
Pinghai Power Generation1,370,000,000HuizhouHuizhouElectric power45%0%Business combinations involving enterprises under common control
Shibeishan Wind Power231,700,000JieyangJieyangElectric power0%53.51%Business combinations involving enterprises under common control
Red Bay Company2,749,750,000ShanweiShanweiElectric power65%0%Business combinations involving enterprises under common control
Guangdong Wind Power9,700,881,400GuangzhouGuangzhouElectric power76.44%0%Business combinations involving enterprises not under common control
Tongdao Wind Power106,500,000HuaihuaHuaihuaElectric power0%76.44%Establish
Pingyuan Wind Power203,580,000MeizhouMeizhouElectric Power0%76.44%Establish
Heping Wind Power137,000,000HeyuanHeyuanElectric power0%76.44%Establish
Huilai Wind Power59,000,000JieyangJieyangElectric power0%68.67%Business combinations
involving enterprises not under common control
Hongrui Technology20,000,000ShaoguanShaoguanElectric power0%90%Establish
Yongan Natural gas400,000,000ZhaoqingZhaoqingElectric power90%0%Establish
Xupu Wind Power104,910,000HuaihuaHuaihuaElectric power0%76.44%Establish
Wuxuan Wind Power96,520,000GuangxiGuangxiElectric power0%76.44%Establish
Pingdian Integrated Energy Company20,000,000HuizhouHuizhouElectric power0%45%Establish
Zhuhai Wind Power1,128,634,000ZhuhaiZhuhaiElectric power0%56.93%Establish
Binhai Bay620,000,000DongguanDongguanElectric power100%0%Establish
Dayawan Company764,000,000HuizhouHuizhouElectric Power70%0%Establish
Qiming Company53,000,000ShenzhenShenzhenElectric power100%0%Establish
Huaguoquan Company2,650,000ShenzhenShenzhenRent100%0%Business combinations involving enterprises not under common control
Nanxiong New Energy75,000,000ShaoguanShaoguanElectric power0%76.44%Establish
Dananhai Company291,000,000JieyangJieyangElectric power100%0%Establish
Qingzhou Offshore wind power185,000,000YangjiangYangjiangElectric power0%76.44%Establish
Wanhaowei100,046,000ZhanjianZhanjianElectric power0%76.44%Establish
New Energygg
Wanchuang Hengwei New Energy100,046,000ZhanjiangZhanjiangElectric power0%76.44%Establish
Nanhua New Energy135,234,900ZhanjiangZhanjiangElectric power0%38.98%Business combinations involving enterprises not under common control
Datang New Energy145,938,900GuangzhouGuangzhouElectric Power0%38.98%Business combinations involving enterprises not under common control
Yueneng Wind Power130,000,000ZhanjiangZhanjiangElectric power0%38.98%Business combinations involving enterprises not under common control
Tumu Termal power Company1,006,523,900TuMu ShuKeTuMu ShuKeElectric power79.48%0%Business combinations involving enterprises not under common control
Sha C Company2,500,000,000GuangzhouGuangzhouElectric power51%0%Business combinations
involving enterprises under common control
Guanghe Electric Power2,240,816,893GuangzhouGuangzhouElectric power0%51%Business combinations involving enterprises under common control
Biomass power generation621,040,000ZhangjiangZhangjiangElectric Power0%51%Business combinations involving enterprises under common control
Xinhui power generation613,902,062.88JiangmenJiangmenElectric power0%45.90%Business combinations involving enterprises under common control
Yunhe power generation1,080,293,258YunfuYunfuElectric power90%0%Business combinations involving enterprises under common control
Yundian Energy40,000,000YunfuYunfuElectric power0%56.25%Business combinations involving enterprises under
common control
Yuehua power generation1,164,714,000GuangzhouGuangzhouElectric Power51%0%Business combinations involving enterprises under common control
Yunhua Integrated Energy Company60,500,000GuangzhouGuangzhouElectric power0%51%Business combinations involving enterprises under common control
Huangpu Electric Power Engineering13,000,000GuangzhouGuangzhouElectric power0%51%Business combinations involving enterprises under common control
Bijie New Energy10,000,000BijieBijieElectric power100%0%Establish
Shangyang Energy120,820,000ZhanjiangZhanjiangElectric power0%100%Acquisition of assets
Guidian Energy120,820,000ZhanjiangZhanjiangElectric Power0%100%Acquisition of assets
Shunfeng New Energy22,293,880ZhoukouZhoukouElectric power0%76.44%Acquisition of assets
Jiandian New Energy31,350,000JiaozhouJiaozhouElectric power0%76.44%Acquisition of assets
Lianjiang New Energy140,070,000ZhanjiangZhanjiangElectric power0%76.44%Establish
Luoding Yuefeng100,000LuodingLuodingElectric power0%76.44%Establish
Zhaocheng Yuefeng100,000LinfenLinfenElectric Power0%76.44%Establish
Wuhua New30,800,000MeizhouMeizhouElectric power0%76.44%Establish
Energy
Yingyang New Energy77,050,000BaodingBaodingElectric power0%76.44%Acquisition of assets
Lineng New Energy77,050,000BaodingBaodingElectric power0%76.44%Acquisition of assets
Longmen New Energy100,000HuizhouHuizhouElectric power0%76.44%Establish
Inner New Energy314,550,000HohehotHohehotElectric Power0%76.44%Establish
Zhuhai Yuefeng285,297,600ZhuhaiZhuhaiElectric power0%76.44%Establish
Dunan New Energy160,000,000LangfangLangfangElectric power0%61.15%Acquisition of assets
Zhuhai Yuefeng36,096,000LiaochengLiaochengElectric power0%76.44%Acquisition of assets
Shaoguan New Energy48,317,720ShaoguanShaoguanElectric power100%0%Establish
Hanhai New Energy5,000,000TumusukeTumusukeElectric power100%0%Establish
Jinxiu Enegy2,913,100LaibinLaibinElectric power90%0%Establish
Senhong New Energy10,000,000NanjingNanjingElectric power100%0%Acquisition of assets
Muhong New Energy1,000,000JinchangJinchangElectric Power0%100%Acquisition of assets
Senhai New Energy1,000,000NanjingNanjingElectric power100%0%Acquisition of assets
Mujin New Energy120,495,920JinchangJinchangElectric power0%100%Acquisition of assets
Huibo New Energy5,000,000HuizhouHuizhouElectric power100%0%Establish
Dongrun Zhongneng New Energy1,000,000TaishanTaishanElectric power100%0%Acquisition of assets
Dongrun Qingneng New Energy22,304,520TaishanTaishanElectric Power0%100%Acquisition of assets
Runze Jieyuan New Energy22,758,500TaishanTaishenElectric power0%100%Acquisition of assets
Maoming Natural gas135,700,000MaomingMaomingElectric power85%0%Establish
Xingyue New Energy9,977,500MeizhouMeizhouElectric power100%0%Establish
Huixin13,500,000HuizhouHuizhouElectric power85%0%Establish
Thermo Electricity
Shache Energy1,206,110,469.78XingjiangXinjiangElectric Power100%0%Acquisition of assets
Xinguangyao New Energy46,522,828QingdaoQingdaoElectric power99%0%Acquisition of assets
Telian New Energy45,774,873QingdaoQingdaoElectric power0%99%Acquisition of assets
Lianyao New Energy1,000,000QingdaoQingdaoElectric power0%99%Acquisition of assets
Jiuzhou New Energy40,680,000ZhaoqingZhaoqingElectric power100%0%Acquisition of assets
Changshan Wind Power110,740,000XiangtanXiangtanElectric Power100%0%Acquisition of assets
Luoding New Energy500,000LuodingLuodingElectric power100%0%Establish
Zhuhai New Enegy5,000,000ZhuhaiZhuhaiElectric power100%0%Establish
Tumusuke Changhae500,000TumusukeTumusukeElectric power100%0%Establish
Zhenneng New Energy1,000,000YunfuYunfuElectric power100%0%Establish
Zhonggong Energy1,000,000MaomingMaomingElectric power100%0%Acquisition of assets
Yanhua New Energy152,969,360MaomingMaomingElectric power100%0%Acquisition of assets
Xinjiang Company300,000,000UrumqiUrumqiElectric power100%0%Establish
Xinjiang Energy20,000,000UrumqiUrumqiElectric power100%0%Establish
Gaozhou NewEnergy1,476,800MaomingMaomingElectric power100%0%Establish
Xintian Yuefeng2,000,000YongzhouYongzhouElectric power0%76.44%Establish
Lanshan Yuefeng2,000,000YongzhouYongzhouElectric power0%76.44%Establish
Lianjiang Hangneng84,400,000LianjiangLianjiangElectric power0%76.44%Acquisition of assets
Herun New Energy75,170,000HaozhouHaozhouElectric power0%76.44%Acquisition of assets
Guangxi Hangneng179,000,000LaibinLaibinElectric power0%76.44%Acquisition of assets
Jincheng1,000,000JinchengJinchengElectric power0%68.80%Establish
Yuefeng
Baiyin Yuefeng100,000BaiyinBaiyinElectric power0%76.44%Establish
Yunan Yuexin100,000YunfuYunfuElectric power0%76.44%Establish
Yuncheng Wanquan122,118,900YunchengYunchengElectric power0%72.62%Acquisition of assets
Tuokson Energy20,000,000TurpanTurpanElectric power0%76.44%Establish
Yehai Yuefeng112,010,000HainanHainanElectric power0%76.44%Establish

Explanation on share-holding ratio in subsidiary different from ratio of voting right：

(1) On 30 November 2018, Maoming Thermal merged Guangdong Energy Maoming Thermal PowerStation Co., Ltd., wholly-owned by GEGC. After the merger, GEGC held 30.12% equity of MaomingThermal. According to the agreement between the Company and GEGC, the delegated shareholder anddirector from GEGC maintain consensus with those of the Company while exercising the voting rightsduring the shareholders’ meeting and the Board of Directors’ meeting at Maoming Thermal. Therefore, theCompany owns control power over Maoming Thermal.

(2) Pinghai Power was acquired from GEGC by the Group in 2012 through offering non-public shares.According to the agreement between GEGC and Guangdong Huaxia Electric Power Development Co., Ltd.(“Huaxia Electric”), which holds 40% equity in Pinghai Power, the delegated shareholder and director fromHuaxia Electric maintain consensus with those of GEGC when exercising their voting rights during theshareholders’ meeting and Board of Directors’ meeting at Pinghai Power; besides, after GEGC transfers its45% equity in Pinghai Power to the Company, the delegated shareholder and director from Huaxia Electricalso reach consensus with those of the Company when exercising their voting rights during the shareholders’meeting and Board of Directors’ meeting at Pinghai Power. Therefore, the Company owns the control powerover Pinghai Power.

2. Basis for holding half or less voting rights but still controlling the investee, and holding morethan half voting rights but not controlling the investee:

1) As of June 30, 2024, Guangdong Wind Power, a subsidiary of the Group, held 51% shares of AVIC Shenxin.According to the Articles of Association of AVIC Shenxin, the resolutions made at the shareholders' meeting must beunanimously approved by shareholders representing more than two thirds of the voting rights. Therefore, GuangdongWind Power a subsidiary of the Group, and Inner Mongolia Electric Power Survey & Design Institute Co., Ltd., whichholds 49% of the shares, jointly control AVIC Shenxin.

2) As of June 30, 2024, Guangdong Wind Power, a subsidiary of the Group, held 54.6% shares ofYuexin Energy. According to the company's Articles of Association, if the Guangdong Wind Powerfails to reach the control requirement, China Aviation Industry Renewable Energy Corporation willcontrol Yuexin Energy.Controlling basis for the structuring entity included in consolidated range:

Not applicable

Basis on determining to be an agent or consignor:

Not applicable

Other note:

Not applicable

（2）Significant not wholly-owned subsidiaries

In RMB

NameHolding proportion of non-controlling interestProfit or loss attributable to non-controlling interestDividend declared to non-controlling interestClosing balance of non-controlling interest
Guangdong Wind Company23.56%69,628,8393,580,1773,629,324,200
Pinghai Power Generation55%74,274,895269,518,4871,335,474,185
Jinghai Company35%75,998,73801,122,494,579
Red Bay Company35%54,406,44301,049,118,349
Zhanjiang Electric24%9,168,7530872,118,213
Huizhou Natural gas33%64,723,642150,853,026715,050,984
Bohe Company33%55,107,5930724,090,699

Explanation on share-holding ratio of minority different from ratio of voting right:

Not applicableOther note:

Not applicable

（3）Main financial information of significant not wholly-owned subsidiaries

In RMB

SubsidiariesClosing balanceBeginning balance
Current assetsNon-current assetsTotal assetsCurrent liabilitiesNon-current LiabilitiesTotal liabilitiesCurrent assetsNon-current assetsTotal assetsCurrent liabilitiesNon-current LiabilitiesTotal liabilities
Guangdong Wind Company10,244,700,02247,179,655,95157,424,355,9737,606,961,76433,411,816,43141,018,778,19511,232,266,73047,293,819,35258,526,086,0829,299,390,87433,197,787,78342,497,178,657
Pinghai Power Generation1,470,777,9682,347,175,1553,817,953,123926,207,487641,088,1301,567,295,6171,939,030,9642,289,508,5054,228,539,4691,000,271,724804,885,4961,805,157,220
Jinghai Company1,668,101,8597,383,790,8549,051,892,7133,839,550,2132,005,215,1315,844,765,3441,813,538,3557,183,942,8678,997,481,2223,931,004,1722,089,923,2876,020,927,459
Red Bay Company1,326,056,8435,090,277,5216,416,334,3643,244,974,061211,022,1623,455,996,2231,191,880,5635,071,759,9336,263,640,4963,245,379,396218,836,0793,464,215,475
Zhanjiang Electric2,828,681,2571,167,109,1393,995,790,396335,645,36227,718,946363,364,3082,758,759,2831,204,990,2533,963,749,536347,366,67430,095,337377,462,011
Huizhou Natural gas676,982,7082,458,117,9033,135,100,611783,638,490184,639,075968,277,565488,990,5672,598,386,5353,087,377,102562,374,68099,679,081662,053,761
Bohe Company1,906,411,7998,071,821,9629,978,233,7611,501,463,5686,274,313,1317,775,776,6991,328,342,6787,654,051,2058,982,393,8831,199,547,1655,739,139,5416,938,686,706

In RMB

SubsidiariesAmount of current periodAmount of previous period
Operating revenueNet profitTotal comprehensivCash flow from operatingOperating revenueNet profitTotal comprehensiveCash flow from operating activities
e incomeactivitiesincome
Wind Company1,683,513,925318,149,169318,149,169964,623,9211,516,433,478316,152,530316,152,530934,009,746
Pinghai Power Generation1,810,201,016134,952,787134,952,787597,774,7882,613,191,641222,317,841222,317,841756,088,612
Jinghai Company2,957,829,113217,139,250217,139,250680,317,7153,561,337,800201,412,703201,412,703350,392,934
Red Bay Company2,360,735,992155,446,980155,446,980527,483,1782,856,474,956169,901,566169,901,566355,762,388
Zhanjiang Electric1,163,075,94236,803,33636,803,33626,246,8861,297,631,05175,261,40475,261,404113,104,710
Huizhou Natural gas1,852,297,784196,132,247196,132,247383,223,5622,277,405,203240,714,292240,714,292377,380,596
Bohe Company1,724,373,686166,992,706166,992,706822,476,4141,963,659,434145,455,744145,455,744156,619,783

Other note:

Not applicable

(4) Significant restrictions of using enterprise group assets and pay off enterprise group debtNot applicable

(5) Provide financial support or other support for structure entities incorporate into the scope ofconsolidated financial statementsNot applicableOther note:

2. The transaction of the Company with its owner’s equity share changed but still controlling the subsidiary

(1) Note to owner’s equity share changed in subsidiary

Not applicable

(2) The transaction’s influence to equity of minority shareholders and attributable to the owner's equity of the parent companyNot applicable

3. Equity in joint venture arrangement or associated enterprise

(1) Significant joint venture arrangement or associated enterprise

Name of SubsidiaryMain Places of OperationRegistration PlaceNature of BusinessShareholding Ratio (%)The accounting treatment of investment in associates
directindirect
Industry FuelGuangzhouGuangzhouFuel trade50%Equity method
Shanxi Yudean EnertyTaiyuanTaiyuanCoal Transportation and port operations investment40%Equity method
Energy FinanceGuangzhouGuangzhouFinancial25%15%Equity method
Taishan Power GenerationTaishanTaishanPower Generation20%Equity method
Energy Financing Leasing CompanyGuangzhouGuangzhouFinancing Leasing25%Equity method

Share-holding ratio or shares enjoyed different from voting right ratio:

Not applicableBasis of the voting rights with 20% below but with major influence, or without major influence butwith over 20% (20% included) voting rights hold:

Not applicable

（2）Main financial information of Significant joint venture

In RMB

Amount of current periodAmount of previous period
Industry FuelIndustry Fuel
Current assets10,660,849,4658,024,034,962
Including: Balance of cash and cash equivalents2,845,986,0862,846,859,508
Non-current assets9,064,883,6609,370,464,679
Total of assets19,725,733,12517,394,499,641
Current liabilities10,262,664,8449,019,251,783
Non current liabilities6,422,156,5616,255,984,762
Total liabilities16,684,821,40515,275,236,545
Minority shareholder Equity995,619,93081,448,266
Attributable to shareholders of the2,045,291,7902,037,814,830
parent company
Share of net assets calculated by stake1,022,645,8951,018,907,415
Adjustment item
--Goodwill
-- Internal transactions did not achieve profit-77,684,882-151,670,636
--Other
Book value of equity investment in joint venture944,961,013867,236,779
The fair value of the equity investment of a joint venture with a public quotation
Business income15,993,364,89217,669,371,060
Financial expenses122,357,006118,472,192
Income tax24,808,96727,764,948
Net profit99,222,03968,027,911
Net profit from terminated operation
Other comprehensive income
Total comprehensive income99,222,03968,027,911
Dividends received from the joint venture this year22,340,551

Other note

(3) Main financial information of significant associated enterprise

In RMB

Closing balance/This periodOpening balance/Last period
Shanxi EnergyEnergy FinanceTaishan Power GenerationEnergy Financing Leasing CompanyShanxi EnergyEnergy FinanceTaishan Power GenerationEnergy Financing Leasing Company
Current assets3,223,894,93915,951,073,1144,738,410,047977,341,4112,438,117,63013,192,594,9424,614,346,037983,919,263
Non-current assets8,894,301,32319,159,555,6488,107,042,64412,743,580,2019,042,003,41718,430,616,3568,310,428,67012,423,147,050
Total of assets12,118,196,26235,110,628,76212,845,452,69113,720,921,61211,480,121,04731,623,211,29812,924,774,70713,407,066,313
Current liabilities410,908,82030,733,490,9772,652,638,1531,796,034,721364,675,47927,220,413,3422,975,341,1692,049,832,959
Non-current liabilities2,322,570,98588,101,689640,1009,681,670,7672,254,750,42183,959,2999,177,722,708
Total liabilities2,733,479,80530,821,592,6662,653,278,25311,477,705,4882,619,425,90027,304,372,6412,975,341,16911,227,555,667
Minority shareholder Equity13,754,48613,510,734
Attributable to shareholders of the parent company9,370,961,9714,289,036,09610,192,174,4382,243,216,1248,847,184,4134,318,838,6579,949,433,5382,179,510,646
Share of net assets calculated by stake3,748,384,7891,715,614,4362,038,434,887560,804,0323,538,873,7651,727,535,4631,989,886,708544,877,662
Adjustment item
--Goodwill13,325,00013,325,000
-- Internal transactions did not achieve
profit
--Other
Book value of equity investment in joint venture3,748,384,7891,728,939,4362,038,434,887560,804,0323,538,873,7651,740,860,4631,989,886,708544,877,662
The fair value of the equity investment of a joint venture with a public quotation
Business income155,633,534394,936,1884,848,674,845192,580,655118,159,035354,420,8956,138,517,716167,876,552
Net profit523,868,842192,195,914278,889,26363,705,479641,106,524187,240,167552,443,28568,392,697
Net profit from terminated operation
Other comprehensive income9,426,38036,290,103
Total comprehensive income523,868,842201,622,294278,889,26363,705,479641,106,524223,530,270552,443,28568,392,697
Dividends received from the associated enterprise this year92,569,943128,886,07226,681,51720,571,445

Other note

Not applicable

(4) Summary financial information of insignificant joint venture or associated enterprise

In RMB

Amount of current periodAmount of previous period
Joint venture:
The total number of the following177,256,928177,391,197
Share of net assets calculated by stake
----Net Profit-134,2695,400,143
-Other comprehensive income00
-- Total comprehensive income-134,2695,400,143
Associated enterprise：
Total investment book value979,142,359937,715,623
The total number of the following
--Net Profit43,058,61019,300,483
-Other comprehensive income154,2750
-- Total comprehensive income43,212,88519,300,483

Other noteNot applicable

(5) Note to the significant restrictions of the ability of joint venture or associated enterprisetransfer funds to the Company

Not applicable

(6) The excess loss of joint venture or associated enterprise

In RMB

Name of joint venture or associated enterpriseUnrecognized losses accumulated in previous periodsUnrecognized losses in this period (or net profit shared in this period)Unrecognized losses accumulated at the end of the period
Yunfu Power Generation( B) Co., Ltd.-2,249,863191,503-2,058,360
Yunnan Nengtou Weixin Energy Co., Ltd.0-33,331,821-33,331,821

Other note

Not applicable

(7) The unrecognized commitment related to joint venture investment

Not applicable

(8) Contingent liabilities related to joint venture or associated enterprise investment

Not applicable

4. Significant common operation

Not applicableShare-holding ratio or shares enjoyed different from voting right ratio:

Not applicableOther noteNot applicable

5. Equity of structure entity not including in the scope of consolidated financial statementsNot applicable6,OtherNot applicable

XI. Government subsidy

1. Government subsidies recognized according to the receivable amount at the end of thereporting period

□Applicable ?Not applicable

The reason for not receiving the estimated amount of government subsidies at the expected point intime

□Applicable ?Not applicable

2. Liabilities involving government subsidies

?Applicable □Not applicable

In RMB

Accounting subjectBeginning balanceNew subsidy amount this yearAmount included in non-operating income this yearAmount transferred to other income this yearOther changes this yearEnding balanceRelated to assets/income
Deferred income128,296,225850,4953,971,808125,174,912Asset-related

3. Government subsidies included in the current profit and loss

?Applicable □Not applicable

In RMB

Accounting itemsAmount incurred in the current periodAmount incurred in the previous period
Other income3,971,8087,315,658

Other note

Not applicableXII. Risks Related to Financial Instruments

1.Risks arising from financial instruments

Not applicable

2. Hedging

(1) The Company conducts hedging business for risk management

□Applicable ?Not applicable

(2) The Company conducts qualified hedging business and applies hedge accounting

Not applicable

（3） The Company conducts hedging business for risk management and expects to achieve risk managementobjective but does not apply hedge accounting

□Applicable ?Not applicable

3. Financial assets

(1) Classification of transfer methods

□Applicable ?Not applicable

(2) Financial assets that have been derecognized as a result of a transfer

□Applicable ?Not applicable

(3) Financial assets of continued involvement in asset transfer

□Applicable ?Not applicable

Other note:

XIII. The disclosure of the fair value

1. Closing fair value of assets and liabilities calculated by fair value

In RMB

ItemsClosing fair value
Fair value measurement items at level 1Fair value measurement items at level 2Fair value measurement items at level 3Total合计
I. Continuous fair value measurement--------
2. Financial assets measured at fair value and whose changes are included in current gains/losses1,418,407,9081,016,800,0002,435,207,908
（3）Other equity instrument investment1,418,407,9081,016,800,0002,435,207,908
Total assets continuously measured at fair value1,418,407,9081,016,800,0002,435,207,908
II Inconsistent fair value measurement--------

2.Recognized basis for the market price sustaining and non-persistent measured by fair value on first-orderFor financial instruments that are not traded in active markets, the Group adopts valuation techniques todetermine their fair value.

3. Valuation technique and qualitative and quantitative information on major parameters for the fairvalue measure sustaining and non-persistent on second-orderNot applicable

4. Valuation technique and qualitative and quantitative information on major parameters for the fairvalue measure sustaining and non-persistent on third -orderThe fair value of financial instruments traded in an active market is determined at the quoted marketprice; and the fair value of those not traded in an active market is determined by the Group using valuationtechniques. The Group adopt such valuation models as cash flow discounting model and comparablecompany in the market to evaluate the fair value of the other equity instrument of Level 3 financial assets.The Group adopts average price to book value ratio (PB) and discounts for lack of marketability (DLOM) asmajor unobservable inputs for SCG.

5.Continuous thirdlevel fair value measurement project, adjustment information between the openingand closing book value and sensitivity analysis of unobservable parametersNot applicable

6.The reasons for the conversions and the policies for determining the timing of the conversions forcontinuous fair value measurement items where conversions between various levels occurred duringthe current period

The Group takes the occurrence date of the event that leads to the transition between different levels asthe time to confirm the transition between different levels. This year, there is no transition among the firstlevel, the second level and the third level.

7. Changes in valuation technology during the current period and the reasons for the changes

Not applicable

8. Financial assets and liability not measured by fair value

The Group's financial assets and liabilities measured in amortized cost mainly include: accountsreceivable, other receivables, long-term receivables, short-term loans, fund payable, long-term loans, bondspayable and long-term payables.

There is no significant difference between the book value and fair value of the Group's financial assetsand financial liabilities that are not measured at fair value.

9.Other

Not applicableXIV. Related parties and related-party transactions

1. Parent company information of the enterprise

Parent company nameRegistration placeNatureRegistered capitalShare ratio of parent company against the company(%)Vote right ratio of parent company against the company(%)
Guangdong Energy GroupGuangzhouOperation and management of power generation enterprises, capital management of electricity assets, construction of power plant and sales of electricity23.3 billion67.39%67.39%

Explanation on parent company of the enterpriseOn August 8, 2001, Guangdong Provincial Government had taken the lead in the implementation of thereform of electric power system. Guangdong Electric power Group was established by inheriting theelectricity generation business of Guangdong electric Power Group Company and its registered capital isRMB 23 billion, with 76% stake held by Guangdong Provincial People's Government and 24% stake held by

China Hua Neng Group, owning more than 15,000 staff now, and the company is the strongestOn February 18,2019, With the approval of the state-owned assets supervision and administrationcommission of the Guangdong provincial people's government and the approval of the Guangdongprovincial market supervision administration, the former Guangdong Energy group Co., Ltd. was renamedas Guangdong Energy Group Co., Ltd

Ultimate controller of the Company is Guangdong Provincial People’s Government state owned assetssupervision and Administration Commission.

2.Subsidiary of the Enterprise

See to Notes X..

3.Cooperative enterprise and joint venture

See Notes X..

Other cooperative enterprise and joint venture that have related transaction with the Company in thePeriod or occurred in previous period：

NameRelationship
Yudean Fuel CompanyJoint venture
Zhonghang Shenxin Wind Generation Co., Ltd.Joint venture
Yudean Shipping CompanyAssociate
Energy Group Finance CompanyAssociate
Yudean Insurance Captive CompanyAssociate
Guangdong Energy Financing Leasing Co., Ltd.Associate
Yunfu Power Generation ( B plant) Co., Ltd.Associate

Other note

4.Other related party

Other related partyRelationship with the Enterprise
Zhuhai Special Economic Zone Guangzhu Power Generation Co., Ltd.Controlled by Energy Group
Shaoguan Qujing New Energy Co., Ltd.Controlled by Energy Group
Guangdong Zhuhai Jinwan Power Generation Co., Ltd.Controlled by Energy Group
Guangdong Zhongshan Thermal Power Plant Co., Ltd.Controlled by Energy Group
Guangdong Yudean Real Estate Investment Co., Ltd.Controlled by Energy Group
Guangdong Yudean Shipping Co., Ltd.Controlled by Energy Group
Guangdong Yudean Information Technology Co., Ltd.Controlled by Energy Group
Guangdong Yudean Xinfengjiang Power Generation Co., Ltd.Controlled by Energy Group
Guangdong Yudean Property Management Co., Ltd.Controlled by Energy Group
Yudean Environmental protection Co., Ltd.Controlled by Energy Group
Guangdong Yudean Shipping Co., LtdControlled by Energy Group
Guangdong Yangjiang Port Services Co., LtdControlled by Energy Group
Guangdong Yuelong Power Generation Co., Ltd.Controlled by Energy Group
Guangdong Energy Group Zhuhai Power Generation Co., Ltd.Controlled by Energy Group
Guangdong Energy Group Shajiao C PlantControlled by Energy Group
Guangdong Shaoguan Port Co., Ltd.Controlled by Energy Group
Guangdong Energy Group Natural gas Co., Ltd.Controlled by Energy Group
Guangdong Energy Group Technology Resarch institute Co.,Ltd.Controlled by Energy Group
Guangdong Energy Group Huizhou Natural gas Co., Ltd.Controlled by Energy Group
Guangdong Energy Group Yunfu Xuneng Power GenerationCo., Ltd.Controlled by Energy Group
Guangdong Huizhou Natural Gas Co., Ltd.Controlled by Energy Group
Dongguan Mingyuan Hotel Co., Ltd.Controlled by Energy Group

Other note

5. Related transactions.

（1）Related transactions on purchasing goods and receiving servicesAcquisition of goods and reception of labor service

In RMB

Related partyContentCurrent amountApproval trading limitWhether over the trading limit(Y/N)Last amount
Yudean Environment ProtectionMaterial purchase110,737,193No113,867,728
Zhuhai Special Economic Zone Guangzhu Power Generation Co., Ltd.Electric purchase8,036,562No143,960,700
Guangdong Zhuhai Jinwan Power Generation Co., Ltd.Electric purchase1,504,420No136,789,161
Yunfu Power Generation ( B plant) Co., Ltd.Electric purchase0No28,688,660
Guangdong Yuelong PowerElectric purchase258,085No25,673,150
Generation Co., Ltd.
Zhongshan Thermal power plantElectric purchase3,023,170No65,382,590
Fuel CompanyFuel purchase12,468,604,852No14,710,520,034
Energy Group Natural gasFuel purchase4,100,268,314No3,207,315,777
Guangdong Yudean Xinfengjiang Power Generation Co., LtdAcceptance of Engineering services0No119,266
Fuel CompanyManagement services27,521,200No51,237,017
Yudean Environment ProtectionAcceptance of management services0No4,850,515
Yudean InformationAcceptance of management services4,475,716No2,498,756
Guangdong Energy Group Zhuhai Power Generation PlantOther services71,157No0
Yudean ShippingAcceptance of tugboat services12,461,321No12,461,321
Yangjiang PortAcceptance of tugboat services9,188,425No6,277,274
Yudean Property ManagementManagement services22,356,243No14,876,679
Guangdong Energy Group Science and Technology Research Institute Co., LtdAcceptance of R & D Services77,410,619No0
Guangdong Energy Group Shajiao C Power PlantReceipt of operational services270,528,302No264,029,202

Sales of goods and services

In RMB

Related partiesContentOccurred current termOccurred in previous term
Yudean Environment ProtectionSale of Material69,693,858100,120,771
Shajiao C plantProviding maintenance services16,173,2287,862,832
Zhongshan Thermal power plantProviding maintenance services10,960,7263,879,975
Shaoguan Qujiang Yudean New Energy Co., Ltd.Providing maintenance services446,1571,340,452
Guangdong Yuelong Power Generation Co., Ltd.Providing maintenance services0336,283
Guangdong Energy Zhuhai Power Generation Co., Ltd.Providing maintenance services0292,035
Shaoguan Port Co., Ltd.Providing maintenance services8020
Yangxi Shuangyu New Energy Co., Ltd,Providing maintenance services80,5310
Zhuhai Special Economic Zone Guangzhu Power Generation Co., Ltd.Providing maintenance services8,854,3390
Guangdong Energy Group Natural gas Co., Ltd.Providing maintenance services389,3810
Guangdong Yudean ShippingCo., Ltd.Management services0268,113
Fuel CompanyManagement services073,341
Inner Mongolia Ludian Menghua New Energy Co., Ltd.Management services2,566,9800
Yudean Property ManagementManagement services36,9760
Zhonghang Shenxin Wind Generation Co., Ltd.Management services997,0300
Yunfu Power Generation Plant（B）Co., Ltd.Management services1,927,76616,842,027

Explanation on goods purchasing, labor service providing and receiving

(2) Related trusteeship/contract and delegated administration/outsourcing

Trusteeship/contract

In RMB

Name of the employerName of the undertakerAsset situation of theStart dateTerminating datePricing basisGains from the deal in report
undertakerperiod
Guangdong Energy Group Co., Ltd.Guangdong Electric Power Development Co., Ltd.Shareholders' rights except ownership, income right and disposition rightJanuary 1,2018The custody fee charged to each first-class target company directly controlled by Guangdong Energy Group is 100,000 yuan/year, and the custody fee charged to each second-class target company indirectly controlled by Guangdong Yudean Group is 50,000 yuan/year. If the custody period is less than one complete fiscal year, the calculation formula of the custody fee of each target company is calculated according to the custody days. During the current period, there are 16 first-level subject companies900,000

that havebeen incustody forhalf a year , 4second-levelsubjectcompaniesthat havebeen incustody forhalf a year,The annualcustody fee ofthe first-levelsubjectcompanies is

1.6 million

yuan, 800,000yuan, thesecond-levelsubjectcompanies is200,000 yuan,and 100,000yuan, totaling900,000 yuan.

NoteAccording to the instructions of Guangdong Energy Group on undertaking to perform related matters,in order to avoid horizontal competition and fulfill the commitments of related horizontal competition, theCompany and Guangdong Energy Group have signed the Equity Trust Agreement, which entrusts the rightsof shareholders of the Company within the trust scope of Guangdong Energy Group to the Company exceptfor the rights of ownership, income and disposition. Charge RMB 100,000/year custody fees for eachGuangdong Energy Group's direct holding primary target company; charge each indirectly controllingsecondary target company 50,000/year custody fee. For details, please refer to the " Announcement onRelated Party Transaction of the Signing of the “Equity Custody Agreement” by Guangdong ElectricPower Development Co., Ltd with Guangdong Yudean Group Co., Ltd " (Announcement No.: 2018-04)disclosed in China Securities Journal, Securities Times, and Cninfo.com on January 13, 2018.Explanation on related trusteeship/contract

Not applicable

(3) Related lease

As a lessor for the Company::

In RMB

LesseeAssets typeLease income recognized in the PeriodLease income recognized in prior Period
Dongguan Mingyuan Hotel Co., Ltd.Property Lease1,935,1061,935,106
Property CompanyProperty Lease283,746283,746
Guangdong Yudean Shippingproperty Lease026,422
Yudean Environment Protectionproperty Lease161,905161,905
Guangdong Energy Group Yunfu Xuneng Power Generation Co., Ltd.property Lease12,1860
Huizhou Natural gas Co., Ltd.Equipment lease232,8440
Huizhou Natural gas Development Co., Ltd.Land lease2,375,1930

The company was lessee：

In RMB

LessorCategory of leased assetsRental charges for short-term and low-value assets (if any)Variable lease payments not included in lease liabilities measurement (if any)Rent paidInterest expenses on lease liabilities assumedIncreased use right assets
Amount of current periodAmount of previous periodAmount of current periodAmount of previous periodAmount of current periodAmount of previous periodAmount of current periodAmount of previous periodAmount of current periodAmount of previous period
Yudean Finance leaseFinancing leasing0000165,197,717584,702,14676,181,329.63123,958,2701,603,715,635813,122,398
Yudean Real EstateLeasing service5,746,6222,013,446008,804,3037,677,50465,944133,13900

Explanation on related lease

Not applicable

（4）Status of related party guarantee

As a guarantor for the company

In RMB

GuarantorGuarantee amountStart dateEnd dateExecution accomplished
Guangdong Energy Group Co., Ltd.1,842,080,000December 3,2019September 15,2043No

As a secured party for the companyNot applicable

(5) Inter-bank lending of capital of related parties：

In RMB

Related partyAmount borrowed and loanedInitial dateDue dateNotes
Borrowed
Guangdong Energy Group Finance Co., Ltd.200,000,000October 26,2023October 25,2024
Guangdong Energy Group Finance Co., Ltd.300,000,000December 11,2023December 10,2024
Guangdong Energy Group Finance Co., Ltd.285,000,000April 17,2024April 16,2025
Guangdong Energy Group Finance Co., Ltd.39,581,149August 29,2023August 28,2024
Guangdong Energy Group Finance Co., Ltd.95,104,226November 8,2023November 7,2024
Guangdong Energy Group Finance Co., Ltd.11,235,334December 21,2023December 20,2024
Guangdong Energy Group Finance Co., Ltd.4,620,000January 26,2024January 24,2025
Guangdong Energy Group Finance Co., Ltd.21,736,783February 1,2024January 27,2025
Guangdong Energy Group Finance Co., Ltd.20,097,000March 15,2024March 14,2025
Guangdong Energy Group Finance Co., Ltd.29,378,327March 22,2024March 21,2025
Guangdong Energy Group Finance Co., Ltd.86,300,104May 14,2024May 13,2025
Guangdong Energy Group Finance Co., Ltd.78,495,353May 27,2024May 26,2025
Guangdong Energy Group Finance Co., Ltd.80,000,000April 25,2022March 16,2042
Guangdong Energy Group Finance Co., Ltd.10,000,000June 28,2022March 16,2042
Guangdong Energy Group Finance Co., Ltd.23,000,000June 30,2022Mazrch 16,2042
Guangdong Energy Group Finance Co., Ltd.10,000,000August 30,2022March 16,2042
Guangdong Energy Group Finance Co., Ltd.10,000,000September 20,2022March 16,2042
Guangdong Energy Group Finance Co., Ltd.7,974,011September 29,2022March 16,2042
Guangdong Energy Group Finance Co., Ltd.50,000,000November 8,2022March 16,2042
Guangdong Energy Group Finance Co., Ltd.4,261,922November 16,2022March 16,2042
Guangdong Energy Group Finance Co., Ltd.30,036,827February 14,2023March 16,2042
Guangdong Energy Group Finance Co., Ltd.26,310,487March 3,2023March 16,2042
Guangdong Energy Group Finance Co., Ltd.10,000,000March 28,2023March 16,2042
Guangdong Energy Group Finance Co., Ltd.10,000,000March 29,2023March 16,2042
Guangdong Energy20,000,000July 24,2023March 16,2042
Group Finance Co., Ltd.
Guangdong Energy Group Finance Co., Ltd.4,611,055July 27,2023March 16,2042
Guangdong Energy Group Finance Co., Ltd.28,296,015October 23,2023March 16,2042
Guangdong Energy Group Finance Co., Ltd.20,000,000October 30,2023March 16,2042
Guangdong Energy Group Finance Co., Ltd.28,753,948October 31,2023March 16,2042
Guangdong Energy Group Finance Co., Ltd.34,152,153December 21,2023March 16,2042
Guangdong Energy Group Finance Co., Ltd.38,943,771June 21,2024March 16,2042
Guangdong Energy Group Finance Co., Ltd.20,361,600November 15,2021December 24,2035
Guangdong Energy Group Finance Co., Ltd.52,800,000January 19,2022December 24,2035
Guangdong Energy Group Finance Co., Ltd.633,600,000May 19,2023December 24,2035
Guangdong Energy Group Finance Co., Ltd.48,000,000June 26,2023December 24,2035
Guangdong Energy Group Finance Co., Ltd.28,800,000August 17,2023December 24,2035
Guangdong Energy Group Finance Co., Ltd.38,400,000November 17,2023December 24,2035
Guangdong Energy Group Finance Co., Ltd.6,620,000September 22,2023June 21,2043
Guangdong Energy Group Finance Co.,100,000,000December 27,2023June 21,2043
Ltd.
Guangdong Energy Group Finance Co., Ltd.38,520,000January 19,2024June 21,2043
Guangdong Energy Group Finance Co., Ltd.26,460,000March 28,2024June 21,2043
Guangdong Energy Group Finance Co., Ltd.18,640,000June 20,2024June 21,2043
Guangdong Energy Group Finance Co., Ltd.25,385September 25,2023September 24,2024
Guangdong Energy Group Finance Co., Ltd.37,870,769November 12,2014October 27,2029
Guangdong Energy Group Finance Co., Ltd.92,008,462December 10,2014October 27,2029
Guangdong Energy Group Finance Co., Ltd.43,068,693February 4,2015October 27,2029
Guangdong Energy Group Finance Co., Ltd.21,153,846June 17,2015October 27,2029
Guangdong Energy Group Finance Co., Ltd.21,153,846July 23,2015October 27,2029
Guangdong Energy Group Finance Co., Ltd.28,700,769September 15,2015October 27,2029
Guangdong Energy Group Finance Co., Ltd.16,076,923September 28,2015October 27,2029
Guangdong Energy Group Finance Co., Ltd.144,199,768October 13,2015October 27,2029
Guangdong Energy Group Finance Co., Ltd.10,176,923December 16,2015October 27,2029
Guangdong Energy Group Finance Co., Ltd.14,384,615June 20,2018October 27,2029
Guangdong Energy Group Finance Co., Ltd.760,000September 20,2018October 27,2029
Guangdong Energy Group Finance Co., Ltd.1,840,000May 18,2023May 17,2043
Guangdong Energy Group Finance Co., Ltd.10,720,000May 29,2023May 17,2043
Guangdong Energy Group Finance Co., Ltd.54,000,000November 28,2023May 17,2043
Guangdong Energy Group Finance Co., Ltd.100,000,000December 26,2023May 17,2043
Guangdong Energy Group Finance Co., Ltd.27,372,741March 13,2024March 12,2025
Guangdong Energy Group Finance Co., Ltd.34,218,633June 25,2024March 12,2025
Guangdong Energy Group Finance Co., Ltd.5,121,281February 2,2023December 27,2042
Guangdong Energy Group Finance Co., Ltd.43,000,000February 14,2023December 27,2042
Guangdong Energy Group Finance Co., Ltd.3,513,675February 28,2023December 27,2042
Guangdong Energy Group Finance Co., Ltd.7,147,642April 24,2023December 27,2042
Guangdong Energy Group Finance Co., Ltd.25,000,000June 16,2023December 27,2042
Guangdong Energy Group Finance Co., Ltd.26,268,346July 28,2023December 27,2042
Guangdong Energy Group Finance Co., Ltd.47,262,936November 6,2023December 27,2042
Guangdong Energy12,403,997February 27,2024December 27,2042
Group Finance Co., Ltd.
Guangdong Energy Group Finance Co., Ltd.19,883,786May 13,2024December 27,2042
Guangdong Energy Group Finance Co., Ltd.28,000,000May 19,2023May 18,2038
Guangdong Energy Group Finance Co., Ltd.300,000June 25,2023May 18,2038
Guangdong Energy Group Finance Co., Ltd.91,384,616September 2,2015May 26,2030
Guangdong Energy Group Finance Co., Ltd.91,384,615December 17,2015May 26,2030
Guangdong Energy Group Finance Co., Ltd.6,396,923January 25,2017May 26,2030
Guangdong Energy Group Finance Co., Ltd.4,641,077October 27,2017May 26,2030
Guangdong Energy Group Finance Co., Ltd.20,420,430December 11,2017May 26,2030
Guangdong Energy Group Finance Co., Ltd.9,045,721January 31,2018May 26,2030
Guangdong Energy Group Finance Co., Ltd.3,456,307April 28,2018Mary 26,2030
Guangdong Energy Group Finance Co., Ltd.11,376,961July 4,2018May 26,2030
Guangdong Energy Group Finance Co., Ltd.2,595,519August 1,2018May 26,2030
Guangdong Energy Group Finance Co., Ltd.4,163,769November 22,2018May 26,2030
Guangdong Energy Group Finance Co.,3,088,593January 24,2019May 26,2030
Ltd.
Guangdong Energy Group Finance Co., Ltd.3,682,618April 12,2019May 26,2030
Guangdong Energy Group Finance Co., Ltd.5,722,821January 17,2020May 26,2030
Guangdong Energy Group Finance Co., Ltd.4,496,060March 25,2020May 26,2030
Guangdong Energy Group Finance Co., Ltd.9,612,081April 8,2020May 26,2030
Guangdong Energy Group Finance Co., Ltd.12,961,293April 30,2020May 26,2030
Guangdong Energy Group Finance Co., Ltd.11,809,930May 17,2016May 16,2031
Guangdong Energy Group Finance Co., Ltd.24,213,624March 7,2017May 16,2031
Guangdong Energy Group Finance Co., Ltd.8,470,000May 19,2017May 16,2031
Guangdong Energy Group Finance Co., Ltd.30,478,000June 14,2017May 16,2031
Guangdong Energy Group Finance Co., Ltd.28,000,000June 21,2017May 16,2031
Guangdong Energy Group Finance Co., Ltd.15,358,933August 10,2017May 16,2031
Guangdong Energy Group Finance Co., Ltd.208,596January 10,2018May 16,2031
Guangdong Energy Group Finance Co., Ltd.22,360,800May 11,2018May 16,2031
Guangdong Energy Group Finance Co., Ltd.11,503,169February 24,2022November 11,2041
Guangdong Energy Group Finance Co., Ltd.28,604,890April 20,2022November 11,2041
Guangdong Energy Group Finance Co., Ltd.10,200,000June 23,2022November 11,2041
Guangdong Energy Group Finance Co., Ltd.5,110,000July 25,2022November 11,2041
Guangdong Energy Group Finance Co., Ltd.25,500,000August 29,2022November 11,2041
Guangdong Energy Group Finance Co., Ltd.8,000,000December 28,2022November 11,2041
Guangdong Energy Group Finance Co., Ltd.100,000,000December 28,2023December 27,2024
Guangdong Energy Group Finance Co., Ltd.334,491,906June 28,2017July 20,2042
Guangdong Energy Group Finance Co., Ltd.115,701,252November 7,2023November 6,2043
Guangdong Energy Group Finance Co., Ltd.3,500,000September 27,2023September 26,2041
Guangdong Energy Group Finance Co., Ltd.3,866,592October 11,2023September 26,2041
Guangdong Energy Group Finance Co., Ltd.4,802,412November 20,2023September 26,2041
Guangdong Energy Group Finance Co., Ltd.3,000,000December 25,2023September 26,2041
Guangdong Energy Group Finance Co., Ltd.1,802,412December 27,2023September 26,2041
Guangdong Energy Group Finance Co., Ltd.4,000,000January 15,2024September 26,2041
Guangdong Energy3,203,618January 22,2024September 26,2041
Group Finance Co., Ltd.
Guangdong Energy Group Finance Co., Ltd.100,000,000July 20,2023July 19,2024
Guangdong Energy Group Finance Co., Ltd.100,000,000August 7,2023August 6,2024
Guangdong Energy Group Finance Co., Ltd.100,000,000October 19,2023October 18,2024
Guangdong Energy Group Finance Co., Ltd.100,000,000November 28,2023November 27,2024
Guangdong Energy Group Finance Co., Ltd.100,000,000December 15,2023December 13,2024
Guangdong Energy Group Finance Co., Ltd.50,000,000December 20,2023December 19,2024
Guangdong Energy Group Finance Co., Ltd.100,000,000April 26,2024April 25,2025
Guangdong Energy Group Finance Co., Ltd.100,000,000May 13,2024May 12,2025
Guangdong Energy Group Finance Co., Ltd.9,000,000July 13,2023July 12,2024
Guangdong Energy Group Finance Co., Ltd.8,000,000July 16,2023July 17,2024
Guangdong Energy Group Finance Co., Ltd.7,000,000July 26,2023July 25,2024
Guangdong Energy Group Finance Co., Ltd.8,500,000August 10,2023August 19,2024
Guangdong Energy Group Finance Co., Ltd.9,000,000August 25,2023August 23,2024
Guangdong Energy Group Finance Co.,8,500,000September 4,2023September 3,2024
Ltd.
Guangdong Energy Group Finance Co., Ltd.9,000,000September 6,2023September 5,2024
Guangdong Energy Group Finance Co., Ltd.9,800,000September 11,2023September 10,2024
Guangdong Energy Group Finance Co., Ltd.5,000,000November 7,2023November 6,2024
Guangdong Energy Group Finance Co., Ltd.2,820,000November 28,2023November 27,2024
Guangdong Energy Group Finance Co., Ltd.8,620,000December 1,2023November 29,2024
Guangdong Energy Group Finance Co., Ltd.8,560,000December 11,2023December 10,2024
Guangdong Energy Group Finance Co., Ltd.6,000,000February 7,2024January 27,2025
Guangdong Energy Group Finance Co., Ltd.2,900,000February 29,2024February 28,2025
Guangdong Energy Group Finance Co., Ltd.1,900,000March 12,2024March 11,2025
Guangdong Energy Group Finance Co., Ltd.2,200,000April 11,2024April 10,2025
Guangdong Energy Group Finance Co., Ltd.620,000May 13,2024May 12,2025
Guangdong Energy Group Finance Co., Ltd.2,396,616May 15,2024May 14,2025
Guangdong Energy Group Finance Co., Ltd.899,000June 11,2024June 10,2025
Guangdong Energy Group Finance Co., Ltd.901,000June 17,2024June 16,2025
Guangdong Energy Group Finance Co., Ltd.812,165June 20,2024June 19,2025
Guangdong Energy Group Finance Co., Ltd.19,087,113July 25,2023July 24,2024
Guangdong Energy Group Finance Co., Ltd.14,181,754August 4,2023August 2,2024
Guangdong Energy Group Finance Co., Ltd.13,808,772August 28,2023August 27,2024
Guangdong Energy Group Finance Co., Ltd.13,482,368September 7,2023September 6,2024
Guangdong Energy Group Finance Co., Ltd.12,338,075September 25,2023September 24,2024
Guangdong Energy Group Finance Co., Ltd.16,800,000March 13,2024September 26,2024
Guangdong Energy Group Finance Co., Ltd.21,539,249October 25,2023October 24,2024
Guangdong Energy Group Finance Co., Ltd.9,074,796November 13,2023November 12,2024
Guangdong Energy Group Finance Co., Ltd.14,877,326November 28,2023November 27,2024
Guangdong Energy Group Finance Co., Ltd.4,598,970December 6,2023December 5,2024
Guangdong Energy Group Finance Co., Ltd.3,820,791December 12,2023December 11,2024
Guangdong Energy Group Finance Co., Ltd.7,864,651December 26,2023December 25,2024
Guangdong Energy Group Finance Co., Ltd.9,085,015January 11,2024January 10,2025
Guangdong Energy13,457,019January 23,2024January 22,2025
Group Finance Co., Ltd.
Guangdong Energy Group Finance Co., Ltd.15,379,148February 27,2024February 26,2025
Guangdong Energy Group Finance Co., Ltd.10,289,573March 20,2024March 19,2025
Guangdong Energy Group Finance Co., Ltd.22,169,808March 28,2024March 27,2025
Guangdong Energy Group Finance Co., Ltd.13,848,045May 20,2024May 19,2025
Guangdong Energy Group Finance Co., Ltd.40,000,000June 3,2024June 2,2025
Guangdong Energy Group Finance Co., Ltd.10,000,000June 3,2024June 2,2025
Guangdong Energy Group Finance Co., Ltd.10,912,496June 25,2024June 24,2025
Guangdong Energy Group Finance Co., Ltd.100,000,000January 15,2021January 14,2041
Guangdong Energy Group Finance Co., Ltd.100,000,000September 18,2023September 17,2024
Guangdong Energy Group Finance Co., Ltd.50,000,000October 20,2023October 18,2024
Guangdong Energy Group Finance Co., Ltd.50,000,000December 28,2023December 27,2024
Guangdong Energy Group Finance Co., Ltd.85,000,000April 19,2024April 18,2025
Guangdong Energy Group Finance Co., Ltd.50,000,000April 26,2024April 25,2025
Guangdong Energy Group Finance Co.,50,000,000May 11,2024May 9,2025
Ltd.
Guangdong Energy Group Finance Co., Ltd.50,000,000June 26,2024June 25,2025
Guangdong Energy Group Finance Co., Ltd.48,387,129January 15,2015January 14,2029
Guangdong Energy Group Finance Co., Ltd.180,000,000November 2,2023November 1,2024
Guangdong Energy Group Finance Co., Ltd.140,000,000November 6,2023November 5,2024
Guangdong Energy Group Finance Co., Ltd.200,000,000December 18,2023December 17,2024
Guangdong Energy Group Finance Co., Ltd.200,000,000February 2,2024February 1,2025
Guangdong Energy Group Finance Co., Ltd.200,000,000March 28,2024March 27,2025
Guangdong Energy Group Finance Co., Ltd.150,000,000June 17,2024June 16,2025
Guangdong Energy Group Finance Co., Ltd.603,500February 23,2023February 20,2043
Guangdong Energy Group Finance Co., Ltd.7,190,180April 17,2023February 20,2043
Guangdong Energy Group Finance Co., Ltd.34,514,779May 22,2023February 20,2043
Guangdong Energy Group Finance Co., Ltd.3,600,090July 25,2023February 20,2043
Guangdong Energy Group Finance Co., Ltd.3,584,720May 27,2024February 20,2043
Guangdong Energy Group Finance Co., Ltd.1,330,584June 19,2024February 20,2043
Guangdong Energy Group Finance Co., Ltd.4,125,400June 24,2024February 20,2043
Guangdong Energy Group Finance Co., Ltd.19,450,000July 23,2018July 23,2033
Guangdong Energy Group Finance Co., Ltd.3,000,000March 3,2016February 10,2033
Guangdong Energy Group Finance Co., Ltd.1,000,000March 3,2016February 10,2033
Guangdong Energy Group Finance Co., Ltd.1,639,968December 16,2015February 10,2033
Guangdong Energy Group Finance Co., Ltd.270,634August 26,2019June 25,2039
Guangdong Energy Group Finance Co., Ltd.1,297,700September 12,2019June 25,2039
Guangdong Energy Group Finance Co., Ltd.180,000September 29,2019June 25,2039
Guangdong Energy Group Finance Co., Ltd.210,000October 29,2019June 25,2039
Guangdong Energy Group Finance Co., Ltd.3,000,000November 21,2019June 25,2039
Guangdong Energy Group Finance Co., Ltd.2,000,000December 5,2019June 25,2039
Guangdong Energy Group Finance Co., Ltd.1,100,000December 18,2019June 25,2039
Guangdong Energy Group Finance Co., Ltd.1,800,000January 14,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.1,500,000February 25,2020June 25,2039
Guangdong Energy47,400,000April 16,2020June 25,2039
Group Finance Co., Ltd.
Guangdong Energy Group Finance Co., Ltd.54,000,000April 29,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.8,500,000May 18,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.6,700,000June 17,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.11,200,000July 9,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.19,500,000August 10,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.7,700,000August 20,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.36,000,000September 10,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.5,700,000September 15,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.11,600,000October 15,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.7,100,000November 19,2020June 25,2039
Guangdong Energy Group Finance Co., Ltd.5,000,000March 16,2021June 25,2039
Guangdong Energy Group Finance Co., Ltd.10,000,000April 6,2021June 25,2039
Guangdong Energy Group Finance Co., Ltd.8,121,854April 22,2021June 25,2039
Guangdong Energy Group Finance Co.,5,000,000May 20,2021June 25,2039
Ltd.
Guangdong Energy Group Finance Co., Ltd.20,000,000August 12,2021June 25,2039
Guangdong Energy Group Finance Co., Ltd.2,500,000December 27,2019December 26,2034
Guangdong Energy Group Finance Co., Ltd.19,500,000June 24,2020December 26,2034
Guangdong Energy Group Finance Co., Ltd.16,133,103October 9,2020December 26,2034
Guangdong Energy Group Finance Co., Ltd.13,000,000November 17,2020December 26,2034
Guangdong Energy Group Finance Co., Ltd.24,000,000December 11,2020December 26,2034
Guangdong Energy Group Finance Co., Ltd.4,500,000February 5,2021December 26,2034
Guangdong Energy Group Finance Co., Ltd.3,528,114June 24,2022December 26,2034
Guangdong Energy Group Finance Co., Ltd.1,910,525September 22,2022December 26,2034
Guangdong Energy Group Finance Co., Ltd.1,245,833May 29,2020May 25,2035
Guangdong Energy Group Finance Co., Ltd.2,108,333June 22,2020May 25,2035
Guangdong Energy Group Finance Co., Ltd.4,360,417June 28,2020May 25,2035
Guangdong Energy Group Finance Co., Ltd.5,750,000July 22,2020May 25,2035
Guangdong Energy Group Finance Co., Ltd.2,587,500August 14,2020May 25,2035
Guangdong Energy Group Finance Co., Ltd.6,516,667September 14,2020May 25,2035
Guangdong Energy Group Finance Co., Ltd.11,500,000October 23,2020May 25,2035
Guangdong Energy Group Finance Co., Ltd.29,708,333November 12,2021May 25,2035
Guangdong Energy Group Finance Co., Ltd.5,000,000January 25,2022May 25,2035
Guangdong Energy Group Finance Co., Ltd.36,000,000June 10,2022May 25,2035
Guangdong Energy Group Finance Co., Ltd.7,000,000September 26,2022May 25,2035
Guangdong Energy Group Finance Co., Ltd.22,700,000May 25,2023May 25,2035
Guangdong Energy Group Finance Co., Ltd.8,640,000November 4,2020November 2,2035
Guangdong Energy Group Finance Co., Ltd.8,640,000November 19,2020November 2,2035
Guangdong Energy Group Finance Co., Ltd.2,880,000January 22,2021November 2,2035
Guangdong Energy Group Finance Co., Ltd.24,960,000July 26,2021November 2,2035
Guangdong Energy Group Finance Co., Ltd.9,600,000October 20,2021November 2,2035
Guangdong Energy Group Finance Co., Ltd.9,600,000December 10,2021November 2,2035
Guangdong Energy Group Finance Co., Ltd.14,400,000December 27,2021November 2,2035
Guangdong Energy14,400,000January 19,2022November 2,2035
Group Finance Co., Ltd.
Guangdong Energy Group Finance Co., Ltd.9,600,000May 30,2022November 2,2035
Guangdong Energy Group Finance Co., Ltd.32,158,952February 26,2020November 2,2035
Guangdong Energy Group Finance Co., Ltd.20,000,000April 9,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.43,481,594May 14,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.43,850,008May 27,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.15,400,000June 17,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.48,350,000July 16,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.83,613,861August 20,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.21,281,010August 27,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.12,188,757September 16,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.30,000,000October 16,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.16,530,202November 19,2020January 2,2040
Guangdong Energy Group Finance Co., Ltd.6,290,000December 10,2020January 2,2040
Guangdong Energy Group Finance Co.,11,000,000January 21,2021January 2,2040
Ltd.
Guangdong Energy Group Finance Co., Ltd.13,084,526March 11,2021January 2,2040
Guangdong Energy Group Finance Co., Ltd.86,135,248April 14,2021January 2,2040
Guangdong Energy Group Finance Co., Ltd.31,500,000May 18,2021January 2,2040
Guangdong Energy Group Finance Co., Ltd.60,000,000December 16,2021January 2,2040
Guangdong Energy Group Finance Co., Ltd.50,000,000December 27,2022January 2,2040
Guangdong Energy Group Finance Co., Ltd.30,000,000March 30,2021March 29, 2036
Guangdong Energy Group Finance Co., Ltd.18,597,140December 17,2021March 29, 2036
Guangdong Energy Group Finance Co., Ltd.3,900,000October 27,2023October 26,2024
Guangdong Energy Group Finance Co., Ltd.1,100,000December 18,2023December 17,2024
Guangdong Energy Group Finance Co., Ltd.2,000,000March 1,2024February 28,2025
Guangdong Energy Group Finance Co., Ltd.15,000,000July 27,2023June 21,2043
Guangdong Energy Group Finance Co., Ltd.15,000,000August 24,2023June 21,2043
Guangdong Energy Group Finance Co., Ltd.15,000,000August 24,2023June 21,2043
Guangdong Energy Group Finance Co., Ltd.17,000,000September 8,2023June 21,2043
Guangdong Energy Group Finance Co., Ltd.27,517,661September 15,2023June 21,2043
Guangdong Energy Group Finance Co., Ltd.37,500,000January 29,2024June 21,2043
Guangdong Energy Group Finance Co., Ltd.13,852,070April 17,2024June 21,2043
Guangdong Energy Group Finance Co., Ltd.9,800,000June 30,2023June 8,2043
Guangdong Energy Group Finance Co., Ltd.20,000,000August 28,2023June 8,2043
Guangdong Energy Group Finance Co., Ltd.30,000,000December 21,2023June 8,2043
Guangdong Energy Group Finance Co., Ltd.11,691,667May 21,2020May 18,2035
Guangdong Energy Group Finance Co., Ltd.2,875,000June 22,2020May 18,2035
Guangdong Energy Group Finance Co., Ltd.1,437,500June 30,2020May 18,2035
Guangdong Energy Group Finance Co., Ltd.7,666,667July 28,2020May 18,2035
Guangdong Energy Group Finance Co., Ltd.11,500,000September 21,2020May 18,2035
Guangdong Energy Group Finance Co., Ltd.7,666,667November 23,2020May 18,2035
Guangdong Energy Group Finance Co., Ltd.8,145,833February 3,2021May 18,2035
Guangdong Energy Group Finance Co., Ltd.4,791,667May 13,2021May 18,2035
Guangdong Energy9,583,333November 11,2021May 18,2035
Group Finance Co., Ltd.
Guangdong Energy Group Finance Co., Ltd.9,583,333December 16,2021May 18,2035
Guangdong Energy Group Finance Co., Ltd.16,291,667December 23,2021May 18,2035
Guangdong Energy Group Finance Co., Ltd.9,583,333January 4,2022May 18,2035
Guangdong Energy Group Finance Co., Ltd.3,162,500January 17,2022May 18,2035
Guangdong Energy Group Finance Co., Ltd.14,375,000May 19,,2022May 18,2035
Guangdong Energy Group Finance Co., Ltd.2,705,882January 30,2019November 30,2016
Guangdong Energy Group Finance Co., Ltd.2,000,000February 25,2019November 30,2016
Guangdong Energy Group Finance Co., Ltd.4,031,250December 18,2017August 15,2031
Guangdong Energy Group Finance Co., Ltd.5,000,000August 20,2018August 15,2031
Guangdong Energy Group Finance Co., Ltd.10,000,000February 26,2019August 15,2031
Guangdong Energy Group Finance Co., Ltd.30,281,250March 12,2019August 15,2031
Guangdong Energy Group Finance Co., Ltd.18,662,178November 26,2020December 27,2036
Guangdong Energy Group Finance Co., Ltd.69,030,000May 29,2020May 28,2040
Guangdong Energy Group Finance Co.,46,020,000June 16,2020May 28,2040
Ltd.
Guangdong Energy Group Finance Co., Ltd.28,000,000November 4,2020May 28,2040
Guangdong Energy Group Finance Co., Ltd.60,000,000January 4,2021May 28,2040
Guangdong Energy Group Finance Co., Ltd.19,000,000March 26,2021May 28,2040
Guangdong Energy Group Finance Co., Ltd.20,000,000July 16,2021May 28,2040
Guangdong Energy Group Finance Co., Ltd.57,305,000October 26,2022May 28,2040
Guangdong Energy Group Finance Co., Ltd.390,000December 3,2021December 29,2040
Guangdong Energy Group Finance Co., Ltd.36,800,000May 27,2024May 26,2025
Guangdong Energy Group Finance Co., Ltd.48,880,144December 14,2023December 13,2024
Guangdong Energy Group Finance Co., Ltd.110,809,058February 5,2024December 13,2024
Guangdong Energy Group Finance Co., Ltd.75,000,000June 12,2024December 13,2024
Guangdong Energy Group Finance Co., Ltd.200,000,000August 15,2023August 14,2024
Guangdong Energy Group Finance Co., Ltd.100,000,000August 23,2023August 22,2024
Guangdong Energy Group Finance Co., Ltd.100,000,000March 13,2024March 12,2025
Guangdong Energy Group Finance Co., Ltd.100,000,000April 25,2024May 24,2025
Guangdong Energy Group Finance Co., Ltd.172,121,088December 25,2013December 21,2028
Guangdong Energy Group Finance Co., Ltd.142,402,887April 24,2024April 23,2025
Guangdong Energy Group Finance Co., Ltd.32,468,786May 23,2024May 22,2025
Guangdong Energy Group Finance Co., Ltd.57,483,944June 25,2024June 24,2025
Guangdong Energy Group Finance Co., Ltd.1,145,000August 24,2017June 22,2032
Guangdong Energy Group Finance Co., Ltd.190,000September 22,2017June 22,2032
Guangdong Energy Group Finance Co., Ltd.645,000November 2,2017June 22,2032
Guangdong Energy Group Finance Co., Ltd.6,400,000November 28,2017June 22,2032
Guangdong Energy Group Finance Co., Ltd.110,000December 18,2017June 22,2032
Guangdong Energy Group Finance Co., Ltd.1,610,000May 10,2018June 22,2032
Guangdong Energy Group Finance Co., Ltd.6,600,000May 29,2018June 22,2032
Guangdong Energy Group Finance Co., Ltd.17,300,000June 13,2018June 22,2032
Guangdong Energy Group Finance Co., Ltd.1,600,000June 20,2018June 22,2032
Guangdong Energy Group Finance Co., Ltd.7,140,000September 13,2018June 22,2032
Guangdong Energy5,360,000October 10,2018June 22,2032
Group Finance Co., Ltd.
Guangdong Energy Group Finance Co., Ltd.2,680,000October 23,2018June 22,2032
Guangdong Energy Group Finance Co., Ltd.4,110,000October 29,2018June 22,2032
Guangdong Energy Group Finance Co., Ltd.12,500,000November 20,2018June 22,2032
Loaned

（6） Related party asset transfer and debt restructuring

Not applicable

(7) Rewards for the key management personnel

In RMB

ItemsAmount of current periodAmount of previous period
Annual salary of the operator1,903,9911,775,646

（8）Other related transactions

（a）Interest income

ItemsAmount of current periodAmount of previous period
Deposit interest of Energy Group Finance73,985,94640,916,640
Proportion %85.47%76.32%

（b）Interest expense

ItemsAmount of current periodAmount of previous period
Interest of borrowing of Guangdong Energy Finance Company114,016,943128,348,234
Discount interest of Guangdong Energy Finance Company988,4911,042,500
Proportion9.58%10.85%

（c）Interest payable

ItemsAmount of current periodAmount of previous period

Enerty Finance Lease interest

Enerty Finance Lease interest58,137,731123,958,270

（d）Joint Investment

Energy Group
Maoming Thermal power plant30.12%
Bohe Company33%
Sha C Company49%
Guanghe Electric Power49%
Biomass Power Generation49%
Xinhui Power Generation44%
Energy Group Finance Company60%
Industry Fuel50%
Shanxi Energy Company60%
Capital Company51%
Energy Financing Leasing50%
Yudean Shipping65%
Yueqian Electric power17.50%
Yangjiang Wind Power10.96%
Zhuhai Wind Power5.72%
Qujie Wind Power1.68%

6. Payables and receivables of the related party

（1）Receivables

In RMB

ProjectRelated partiesAt end of termAt beginning of term
Book balanceBad debt provisionBook balanceBad debt provision
Monetary funds-Bank depositEnergy Group Finance Company14,136,867,93314,171,704,397
Monetary funds-Other Monetary fundsEnergy Group Finance Company12,000,000
Monetary funds-Interest receivableEnergy Group Finance Company83,742,49041,474,591
Account receivableGuangdong Energy Group9,132,7278,165,793
Account receivableOther24,629,70423,270,780
Contract assetsZhuhai Power Generation13,34426,094
Contract assetsGuangdong Energy Group03,600
Contract assetsOther1,292,285961,101
Other account receivableYudean Environmental protection54,036,27577,083,510
Other account receivableFuel Company24,689,50921,525,622
Other account receivableOther15,868,87015,285,557
Advance paymentFuel Company913,770,5681,309,518,653
Advance paymentOther6,093,985897,183
Other non-current assetsTechnology Company81,160,0000

（2）Payables

In RMB

NameRelated partyAmount at year endAmount at year beginning
Note payableEnergy Group Finance Company240,000,000275,000,000
Account payableFuel Company3,090,182,4162,810,463,766
Account payableEnergy Natural Gas569,482,894224,060,788
Account payableEnergy Group38,960,000118,816,771
Account payableYudean Environmental Protection58,236,71743,397,880
Account payableEnvironmental Protection Material21,521,11823,045,619
Account payableOther3,317,8146,981,342
Other payableHuizhou Natural gas177,384,900177,384,900
Other payableYudean Environmental Protection90,27119,782,246
Other payableMenghua New Energy10,240,52310,240,523
Other payableYudean Property1,107,7336,563,681
Other payableOther8,244,89611,965,534
Lease liabilitiesEnerty Financing leasing9,143,336,9809,376,928,040
Short-term loansFinance Company5,397,299,9124,993,870,363
Non-current liability due in 1 yearFinance Company86,566,435299,173,285
Non-current liability due in 1 yearEnergy Financing Leasing61,697,574102,595,561
Long-term loansFinance Company5,533,480,4005,131,596,996

7. Related party commitment

Not applicable

8.Other

Not applicableXV. Stock payment

1. The Stock payment overall situation

□ Applicable √ Not applicable

2. The Stock payment settled by equity

□ Applicable √ Not applicable

3. The Stock payment settled by cash

□ Applicable √ Not applicable

4.The current shares will pay the fee

□ Applicable √ Not applicable

5. Revised and termination on share-based payment

6.Other

XVI. Commitments

1.Importance commitment events

Important commitments of existence of balance sheet date

(a) In September 2022, Guangdong Wind Power, a subsidiary of the Group, signed the frameworkagreement with Shandong Fengxu for the acquisition of its 100% equity in Gaotang Fengxu New Energy Co.,Ltd. As at 30 June 2024, Guangdong Wind Power paid a deposit of RMB 41,226,000 to Shandong Fengxu,but the consideration for the equity transaction has not yet been determined.

(b) In August 2022, Guangdong Wind Power, a subsidiary of the Group, signed the frameworkagreement with Hengyang New Energy for the acquisition of its no less than 65% equity in WuxiangLvheng Photovoltaic Power Generation Co., Ltd. As at 30 June 2024, Guangdong Wind Power paid adeposit of RMB 52,200,000 to Hengyang New Energy, but the consideration for the equity transaction hasnot yet been determined.

(c) In September 2022, Guangdong Wind Power, a subsidiary of the Group, signed the frameworkagreement with Qinhuangdao Wohua Highway Engineering Co., Ltd. (“Wohua Engineering”) andQinhuangdao Angqian Trading Co., Ltd. (“Angqian Trading”) for the acquisition of their 100% equity (51%of equity from Wohua Engineering and 49% of equity from Angqian Trading) in Qinglong ManchuAutonomous County Jianhao Photovoltaic Technology Co., Ltd. (“Jianhao PV”). The consideration for the

equity transaction has not yet been determined. As of June 30, 2024, Provincial Wind Power has paid atransaction deposit of RMB 120,000,000 to Wohua Engineering and Angqian Trading, and theconsideration for the equity transaction has not been finalized yet.(d) In February 2023, the subsidiary of the Group, Provincial Wind Power, signed a framework

agreement with Guangdong Tanxin Machinery and Equipment Leasing Co., Ltd. to acquire its 100%equity of Lianjiang Junyang New Energy Technology Co., Ltd. As of June 30, 2024, Provincial WindPower had paid a transaction deposit of RMB 61,200,000 to Guangdong Tanxin Machinery andEquipment Leasing Co., Ltd., and the consideration for the equity transaction has not been finalized yet.e）In April 2024, the Guangdong Wind Power, a subsidiary of the Group, signed a frameworkagreement with China Aviation Industry Renewable Energy Corporation ("Aviation Industry") toacquire its 100% equity in Xiangzhou Yunjiang New Energy Co., Ltd. By June 30, 2024, theGuangdong Wind Power had paid a transaction deposit of RMB 52,200,000 to Aviation Industry, andthe consideration for the equity transaction has not been finalized yet.f）In April 2024, Guangdong Wind Power, a subsidiary of the Group, signed a frameworkagreement with China Aviation Industry Renewable Energy Corporation ("Aviation Industry") toacquire its 100% equity in Xiangzhou Hangjing New Energy Co., Ltd. By June 30, 2024, GuangdongWind Power had paid a transaction deposit of RMB 99,180,000 to Aviation Industry, and theconsideration for the equity transaction has not been finalized yet.g）In May 2024, Guangdong Energy Group Xinjiang Co., Ltd., a subsidiary of the Group, signed aframework agreement with Jiangsu Sailafu Electric Power Development Co., Ltd. ("Sailafu ElectricPower") to acquire its 100% equity of Kekedala Zhongfu New Energy Co., Ltd. As of June 30, 2024,Guangdong Wind Power had paid a transaction deposit of RMB 72,000,000 to Sailafu Electric Power,and the consideration for the equity transaction has not been finalized yet.

2.Contingency

（1）Significant contingency at balance sheet date

Not applicable

（2）The Company have no significant contingency to disclose, also should be statedThe Company has no important contingency that need to disclosed

3.Other

XVII. Events after balance sheet date

1. Important non-adjustment items

Not applicable

2. Profit distribution

Not applicable

3. Sales return

Not applicable

4. Other events after balance sheet date

Not applicable

XVIII. Other important events

1. Previous accounting errors collection

(1) Retrospective restatement

Not applicable

(2) Prospective application

Not applicable

2. Debt restructuring

Not applicable

3. Assets replacement

(1) Non-monetary assets change

Not applicable

(2) Other assets replacement

Not applicable

4. Pension plan

Not applicable

5. Discontinued operations

Not applicable

6. Segment

(1) Recognition basis and accounting policy for reportable segmentNot applicable

(2) Financial information for reportable segment

Not applicable

(3)The Company has no reportable segments, or unable to disclose total assets and total liability forreportable segments, explain reasonsNot applicable

(4)Other note

Not applicable

7. Major transaction and events makes influence on investor’s decisionNot applicableXIX. Principle notes of financial statements of parent company

1. Account receivable

（1）Disclosure according to the aging

In RMB

AgingBalance in year-endBalance Year-beginning
Within 1 year(Including 1 year0015,920,526
1-2 years00
2-3 years00
Over 3 years00
3-4 years00
4-5 years00
Over 5 years00
Total015,920,526

（2） According to the bad debt provision method classification disclosure

In RMB

CategoryClosing balanceOpening balance
Book balanceBad debt provisionBook valueBook balanceBad debt provisionBook value
AmountProportion %AmountProportion %AmountProportion %AmountProportion %
Of which
Accrual of bad debt provision by portfolio15,920,526100%00%15,920,526
Of which
Electricity sales receivable15,920,526100%00%15,920,526
Total00%00%015,920,526100%00%15,920,526

Accrual of bad debt provision by portfolio：electricity charges receivable (general electricity charges)

In RMB

NameClosing balance
Book balanceBad debt provisionProportion%
Electricity sales receivable000%
Total00

Explanation on portfolio basis:

Relevant information of the provision for bad debts will be disclosed with reference to the disclosuremethod of other receivables if the provision for bad debts of bills receivable is accrued according to thegeneral model of expected credit loss:

□ Applicable √ Not applicable

(3)Accounts receivable withdraw, reversed or collected during the reporting periodNot applicable

(4) The actual write-off accounts receivable

Not applicable

(5)The ending balance of other receivables owed by the imputation of the top five parties

Not applicable

2. Other accounts receivable

In RMB

ItemsClosing balanceOpening balance
Interest receivable00
Dividend receivable65,472,755134,959,219
Other accounts receivable214,292,8391,231,108,573
Total279,765,5941,366,067,792

（1）Interest receivable

1) Category of interest receivable

In RMB

ItemsClosing balanceOpening balance
Total00

2) Significant overdue interest

Not applicable3）Bad-debt provision

□ Applicable √ Not applicable

4) Accounts receivable withdraw, reversed or collected during the reporting period

Not applicable

5) The actual write-off during the reporting period

Not applicable

（2）Dividend receivable

1) Category

In RMB

ItemsClosing balanceOpening balance
Yangshan Jiangkeng Hydroprower Station Co., Ltd882,7550
Sunshine Insurance Group Co., Ltd63,000,0000
Yangshfan Zhongxinkeng Electric Co., Ltd.1,590,0000
Guangdong Guohua Yudean Taishan Power Generation Co., Ltd.0134,959,219
Total65,472,755134,959,219

2) Significant dividend receivable aged over 1 year

Not applicable3）Bad-debt provision

□ Applicable √ Not applicable

4）Including important amount of bad debt provision collected or reversal in the period:

Not applicable

5） Dividend receivables actually written off in the current period

Not applicable

（3）Other account receivable

1) Other accounts receivable classified by the nature of accounts

In RMB

NatureClosing book balanceOpening book balance
Entrust loans receivable111,556,11861,538,737
Receive unified loan loans from subsidiaries17,216,8601,080,750,000
Supplementary medical insurance fund receivable49,625,87649,625,876
Sales of by-products receivable01,320,333
Alternative money receivable1,220,4671,157,156
Other34,788,59636,826,742
Lee：Bad debt reserves-115,078-110,271
Total214,292,8391,231,108,573

2） Disclosure by aging

In RMB

AgingEnding book balanceOpening book balance
Within one year(one year included)212,233,0001,186,521,304
1-2 years201,6055,244,137
2-3 years519,47038,377,456
Over 3 years1,453,8421,075,947
3-4 years377,895755,382
4-5 years755,382229,312
Over years320,56591,253
Total214,407,9171,231,218,844

3) According to the bad debt provision method classification disclosure

In RMB

CategoryClosing balanceOpening balance
Book balanceBad debt provisionBook valueBook balanceBad debt provisionBook value
AmountProportion %AmountProportion %AmountProportion %AmountProportion %
Accrual of bad debt provision by single207,907,39896.97%00%207,907,3981,226,026,62199.58%01,226,026,621
Of which
Accrual of bad debt provision by portfolio6,500,5193.03%115,0781.77%6,385,4415,192,2230.42%110,2712.12%5,081,952
Of which
Total214,407,917100%115,0780.05%214,292,8391,231,218,844100%110,2710.01%1,231,108,573

Accrual of bad debt provision by portfolio:Other portfolio0

In RMB

NameClosing balance
Book balanceBad debt provisionProportion%
Other portfolio6,500,519115,0781.77%
Total6,500,519115,078

Explanation on portfolio basis:

Provision for bad debts is made according to the general model of expected credit losses

In RMB

Bad Debt ReservesStage 1Stage 2Stage 3Total
Expected credit losses over the next 12 monthsExpected credit loss over life (no credit impairment)Expected credit losses for the entire duration (credit impairment occurred)
Balance as at January 1, 2024110,271110,271
Balance as at January 1, 2024
Provision in the current period15,48515,485
Turn back in the current period-10,678-10,678
Balance as at June 30,2024115,078115,078

Basis for division of each stage and accrual ratio for bad-debt provision

Loss provision changes in current period, change in book balance with significant amount

□ Applicable √Not applicable

4) Accounts receivable withdraw, reversed or collected during the reporting periodThe withdrawal amount of the bad debt provision：

In RMB

CategoryOpening balanceAmount of change in the current periodClosing balance
AccrualReversed or collected amountWrite-offOther
Other receivable110,27115,485-10,678115,078
Total110,27115,485-10,678115,078

Important amount of bad debt provision switch-back or collection in the period:

Not applicable

5) The actual write-off other accounts receivable in the period:

Not applicable

6) Top 5 of the closing balance of the other accounts receivable collected according to the arrearsparty

In RMB

NameNatureClosing balanceAgingProportion of the total year end balance of the accounts receivableClosing balance of bad debt provision
Lincang Yudean EnergyEntrusted loan due within one year110,384,389Within 1 year51.48%0
Taikang Endowment Insurance Co., Ltd. Guangdong BranchSupplementary medical insurance fund receivable49,625,876Within 1 year23.15%0
Fuel CompanySettlement amount of coal burning receivable22,804,207Within 1 year10.64%0
Jinchang Jieyuan Mujian New Energy Co., Ltd.Receive unified loan from subsidiaries8,608,430Within 1 year4.01%0
Jinchang Jieyuan Mujian New Energy Co., Ltd.Receive unified loan from subsidiaries8,608,430Within 1 year4.01%0
Total200,031,33293.29%

7） Reported in other receivables due to centralized management of funds

Not applicable

3. Long-term equity investment

In RMB

ItemsClosing balanceOpening balance
Book balanceProvision for impairmentBook valueBook balanceProvision for impairmentBook value
Investments in subsidiaries38,847,059,9823,655,620,75635,191,439,22638,071,968,4503,655,620,75634,416,347,694
Investments in associates and joint ventures9,372,170,887122,614,1539,249,556,7348,996,241,207122,614,1538,873,627,054
Total48,219,230,8693,778,234,90944,440,995,96047,068,209,6573,778,234,90943,289,974,748

(1)Investments in subsidiaries

In RMB

The invested entityOpening balance(Book value)Opening balance of the impairment provisionIncrease /decrease in reporting periodClosing balanceClosing balance of impairment provision
Increase in investmentDecrease in investmentProvision for impairmentOther
Huizhou Natural gas1,205,199,446001,205,199,4460
Guangqian Electric1,353,153,223001,353,153,2230
Red Bay Company2,350,023,386002,350,023,3860
Lincang Company0490,989,43900490,989,439
Zhanjiang Electric Company2,185,334,400002,185,334,4000
Yuejia Company0455,584,26700455,584,267
Shaoguan Power Generation01,509,698,674001,509,698,674
Maoming Company687,458,97800687,458,9780
Jinghai Company2,450,395,668002,450,395,6680
Technology Company100,000,00000100,000,0000
Humen Company3,192,41686,807,58403,192,41686,807,584
Zhongyue Company963,000,000187,248,1150963,000,000187,248,115
Bohe Company1,409,581,041001,409,581,0410
Pinghai Company720,311,34700720,311,3470
Dapu Company1,907,100,000001,907,100,0000
Huadu Company323,050,00000323,050,0000
Guangdong Wind10,519,096,8810010,519,096,8810
Power
Yudean Electric Sale230,000,00000230,000,0000
Yongan Company450,000,000045,000,000495,000,0000
Binhaiwan Company890,000,0000100,000,000990,000,0000
Huaguoquan Company49,680,9000049,680,9000
Qiming Company53,000,000010,000,00063,000,0000
Dayawan Company335,908,068088,046,932423,955,0000
Dananhai Company211,000,000080,000,000291,000,0000
Sha C Company1,169,434,134389,686,64801,169,434,134389,686,648
Yunhe Company1,164,392,327047,080,0001,211,472,3270
Yuhua Company699,347,83800699,347,8380
Bijie Company17,500,0000017,500,0000
Tumusuke Company264,393,971535,606,0290264,393,971535,606,029
Shanguan43,473,0000043,473,0000
New Energy
Hanhai New Energy384,050,0000140,000,000524,050,0000
Jinxiu Energy2,621,800002,621,8000
Mujin New Energy120,495,92000120,495,9200
Muhong New Energy120,495,92000120,495,9200
Huibo New Energy67,492,360030,830,00098,322,3600
Xingyue New Energy9,977,500009,977,5000
Maoming Nature gas115,345,00000115,345,0000
Huixin Company104,975,00000104,975,0000
Dongrun Zhongneng New Energy45,063,0200045,063,0200
Shache Energy1,235,610,470021,000,0001,256,610,4700
Xinguangyao New Energy32,923,000013,134,60046,057,6000
Luoding New Energy1,844,520001,844,5200
Jiuzhou New Energy39,000,0000039,000,0000
Changshan Wind Power110,740,00000110,740,0000
Tumusuke Changhe3,500,000003,500,0000
Zhonggong Energy152,969,36000152,969,3600
ZhuhaiYudean New Energy2,740,000002,740,0000
Zhenneng New Energy10,000,0000010,000,0000
Xingjiang Company100,000,0000200,000,000300,000,0000
GaozhouNew Energy1,476,800001,476,8000
Total34,416,347,6943,655,620,756775,091,53200035,191,439,2263,655,620,756

（2）Investment in joint ventures and associates

In RMB

Funded enterpriseOpening balance(Book value)Opening balance of the impairment provisionIncrease/decrease in this periodEnd of termBalance of the provision on for impairment
Increase in investmentDecrease in investmentInvestment income under equity methodOther comprehensive incomeOther changes in equityAnnounced for distributing cash dividend or profitProvision for impairmentOther
I.Joint venture
Industry Fuel1,018,292,688050,000,00046,479,8163,584,96822,340,5491,096,016,9230
Subtotal1,018,292,688050,000,000046,479,81603,584,96822,340,549001,096,016,9230
II. Associated
Taishan Power Generation1,989,886,708041,812,96706,735,21202,038,434,8870
Energy Finance Company1,093,006,538048,048,9782,356,595057,856,2151,085,555,8960
Yudea111,441,02108,882,663171,795908,3010121,403,7800
n Shipping Company
Shanxi Yudean Energy Co., Ltd.3,538,873,7650208,937,6890573,33503,748,384,7890
Yudean Captive297,884,35608,025,715002,330,169303,579,9020
Weixin Yuntou122,614,15300000122,614,153
Energy Financing Leasing Company544,877,662015,926,370000560,804,0320
Y265,948,816013,495,356-17,5202,108,4710281,535,1230
Yueqian Electric Power Co., Ltd.
Other13,415,5000002,898,657002,472,7550013,841,4020
Subtotal7,855,334,366122,614,15300348,028,3952,510,87010,325,31962,659,139008,153,539,811122,614,153
Total8,873,627,054122,614,15350,000,0000394,508,2112,510,87013,910,28784,999,688009,249,556,734122,614,153

The recoverable amount is determined on the basis of the net amount of fair value less disposal costs

□Applicable ?Not applicable

The recoverable amount is determined by the present value of the projected future cash flows

□Applicable ?Not applicable

The reason for the obvious discrepancy between the foregoing information and the information used in the impairment test of previous years or theexternal information

The reason for the obvious discrepancy between the information used in the Company's impairment test in previous years and the actual situation inthe current year

（3）Other note

Not applicable

4. Business income, Business cost

In RMB

ItemsAmount of current periodAmount of previous period
IncomeCostIncomeCost
Main business00752,885,457795,525,718
Other business12,200,60511,988,77625,124,161701,401
Total12,200,60511,988,776778,009,618796,227,119

Income related information:

In RMB

Contract classificationDivision 1Division 2Total
IncomeCostIncomeCostIncomeCost
Business type12,200,60511,988,776
Including
Labour service6,450,25811,727,529
Rent5,750,347261,247
Area12,200,60511,988,776
Including
Guangdong12,200,60511,988,776
Other market12,200,60511,988,776
Including：
Other market12,200,60511,988,776
Contract type12,200,60511,988,776
Including
Provided Labour6,450,25811,727,529
Provided Asset use right5,750,347261,247
Time12,200,60511,988,776
Including
Recognize at a certain time point12,200,60511,988,776
Term
Incluidng
Selling
Indluidng
Total12,200,60511,988,776

Information related to performance obligations:

Other noteInformation relating to the transaction price assigned to the remaining performance obligation:

The amount of income corresponding to the performance obligations that have been signed at the endof this reporting period but have not yet been fulfilled or have not done with fulfillment is 0 yuan, amongthem, yuan of revenue is expected to be recognized in year, yuan of revenue is expected to be recognized inyear, and yuan of revenue is expected to be recognized in year.

5. Investment income

In RMB

ItemsAmount of current periodAmount of previous period
Long-term equity investment income accounted by cost method934,393,864577,186,026
Long-term equity investment income accounted by equity method394,508,211473,105,895
Dividend income from investments in other equity instruments during the holding period112,589,720117,258,950
Creditor's right from investments in other equity instruments during the holding period25,242,40227,373,216
Total1,466,734,1971,194,924,087

6.Other

Not applicableXX. Supplement information

1. Particulars about current non-recurring gains and loss

√ Applicable □ Not applicable

In RMB

ItemsAmountNotes
Non-current asset disposal gain/loss10,435Disposal of right-of-use assets.
Government subsidies recognized in current gain and loss(excluding those closely related to the Company’s business and granted under the state’s policies)11,546,345It was mainly the economic policy incentives for power sales and subsidies for various power plant projects.
One-off costs incurred by the enterprise as a result of the relevant business activities no longer continuing, such as expenses for relocating employees-5,199,814Sha A Power Plant terminated the contract with one-time compensation and one-time compensation for internal retired.
Other non-business income and expenditures other than the above38,970,028
Non-current assets scrap income10,103,480Mainly due to the income from the demolition and disposal of houses of Yuehua Power Generation.
Income from carbon emission quota trading1,881,635It’s mainly the income from the trading of carbon emission allowances of the Pinghai Power Plant.
Loss of Non-current assets scrapped-9,701,664It’s mainly the scrapping of the Yunhe power generation boiler body, the loss of coal machinery inventory disposal and the scrapping of fixed assets of Yuehua Company.
Less: Amount of influence of income tax14,711,087
Influenced amount of minor shareholders’ equity (after tax)16,020,328
Total16,879,030--

Details of other profit and loss items that meet the non-recurring profit and loss definition

□ Applicable√ Not applicable

None

For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 oninformation 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 oninformation Disclosure for Companies offering their securities to the public-non-recurring Gains and losseswhich have been defined as recurring gains and losses, it is necessary to explain the reason.

√Applicable□Not applicable

ItemsAmount involved(RMB)Reason
Value-added tax will be refunded immediately16,007,406Comply with national policies and regulations, and continue to occur.
Carbon emission quota used to fulfill the emission reduction obligation-150,950,755Comply with national policies and regulations, and continue to occur.

2. Return on net asset and earnings per share

Profit of report periodWeighted average return on equity(%)Earnings per share
Basic earnings per share(yuan/share）Diluted earnings per share(yuan/share)
Net profit attributable to the Common stock shareholders of Company.4.03%0.1720.172
Net profit attributable to the Common stock shareholders of Company after deducting of non-recurring gain/loss.3.95%0.1690.169

3. Differences between accounting data under domestic and overseas accounting standards

（1）Simultaneously pursuant to both Chinese accounting standards and international accountingstandards disclosed in the financial reports of differences in net income and net assets.

□ Applicable□√ Not applicable

（2）Differences of net profit and net assets disclosed in financial reports prepared under overseasand Chinese accounting standards.

□ Applicable?√ Not applicable

(3) Explanation of the reasons for the differences in accounting data under domestic and foreign accounting standards. If the data that has been audited by an overseas audit institution is adjusted for differences, the name of the overseas institution should be indicated

4.Other

Not applicable
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