The First Quarterly Report 2019
Guangdong Electric Power Development Co., Ltd.
The First Quarterly Report 2019
April 2019
The First Quarterly Report 2019
1 Important notes
The Board of Directors，the Supervisory Committee, the directors, the supervisors, and executives of the
Company guarantee that there are no significant omissions, fictitious or misleading statements carried in the
Quarterly Report and we will accept individual and joint responsibilities for the truthfulness, accuracy and
completeness of the Quarterly Report.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Mr. Wang Jin, Person in charge of the Company, Mr.Liu Wei , Person in charge of accounting works, Mr.Meng
Fei ,CFO as well as person in charge of accounting institution represent and warrant the financial and accounting
report in the first quarterly report is true and complete.
The First Quarterly Report 2019
II. Basic information about the company
I. Main financial data and indices
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
□ Yes √ No
Changes of this period over
This period Same period of last year
same period of last year（％）
Operating revenue（Yuan） 5,589,715,802 5,812,535,688 -3.83%
Net profit attributable to the shareholders
109,518,462 5,745,879 1806.03%
of the listed company（Yuan）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 109,805,200 4,330,364 2435.70%
listed company（Yuan）
Net cash generated from /used in operating
1,805,095,658 1,540,043,756 17.21%
activities（Yuan）
Basic earning per share(Yuan/Share) 0.0209 0.0011 1,800 %
Diluted gains per share(Yuan/Share) 0.0209 0.0011 1,800 %
Weighted average return on equity
0.34% 0.02% 0.32%
（%）
Changes of this period-end
End of this period End of last period over same period-end of last
year(%)
Total assets（Yuan） 72,032,603,693 73,329,662,306 -1.77%
Net assets attributable to the shareholders
24,380,493,152 24,227,302,288 0.63%
of the listed company（Yuan）
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Amount (Year-beginning to
Items Notes
the end of the report period.)
Non-current asset disposal gain/loss(including the write-off part
-524,607
for which assets impairment provision is made)
Govemment subsidy recognized in current gain and
loss(excluding those closely related to the Company’s business 926,644
and granted under the state’s policies)
Other non-operating income and expenditure except for the
-1,496,304
aforementioned items
Less: Amount of influence of income tax -275,893
Influenced amount of minor shareholders’ equity (after tax) -531,636
Total -286,738 --
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Compaines Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
The First Quarterly Report 2019
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason.
□ Applicable√ Not applicable
None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
The First Quarterly Report 2019
II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered
and the Shares Held by Top Ten Common Shareholders
In shares
Total preference shareholders with
Total number of common
99,561 the voting power recovered at the
shareholders at the period-end
end of the reporting period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
Share
Properties of tradable shares
Shareholder name proportion Quantity
shareholder with Conditional Status of Quantity
% the shares
held
State-owned legal
Guangdong Energy Group Co., Ltd. 67.39% 3,538,005,285 1,893,342,621
person
State-owned legal
China Securities Finance Co., Ltd. 2.84% 148,862,420
person
Shenzhen Guangfa Electric Power State-owned legal
2.22% 116,693,602
Investment Co., Ltd. person
Guangdong Electric Power State-owned legal
1.80% 94,367,341
Development Corporation person
Domestic Natural
Li Zhuo 0.60% 31,606,103
person
Domestic
National Social Security Fund 103
Non-State owned 0.44% 22,994,982
portfolio
legal person
Domestic Natural
Zheng Jianxiang 0.43% 22,625,098
person
Domestic
Harbin Hali Industry Co., Ltd. Non-State owned 0.40% 20,942,645
legal person
CHINA INT'L CAPITAL CORP Overseas Legal
0.29% 15,316,066
HONG KONG SECURITIES LTD person
Domestic
Harbin Daoli District Charity
Non-State owned 0.26% 13,722,893
Foundation
legal person
Shares held by the Top 10 Shareholders of Non-restricted shares
Share type
Shareholders’ Names Number of the non-restricted shares held
Share type Quantity
Guangdong Energy Group Co., Ltd. 1,644,662,664 RMB Common shares 1,644,662,664
China Securities Finance Co., Ltd. 148,862,420 RMB Common shares 148,862,420
Shenzhen Guangfa Electric Power
116,693,602 RMB Common shares 116,693,602
Investment Co., Ltd.
Guangdong Electric Power
94,367,341 RMB Common shares 94,367,341
Development Corporation
Li Zhuo 31,606,103 RMB Common shares 31,606,103
National Social Security Fund 103
22,994,982 RMB Common shares 22,994,982
portfolio
Zheng Jianxiang 22,625,098 Foreign shares placed 22,625,098
The First Quarterly Report 2019
in domestic exchange
Harbin Hali Industry Co., Ltd. 20,942,645 RMB Common shares 20,942,645
CHINA INT'L CAPITAL CORP Foreign shares placed
15,316,066 15,316,066
HONG KONG SECURITIES LTD in domestic exchange
Harbin Daoli District Charity
13,722,893 RMB Common shares 13,722,893
Foundation
The fourth largest shareholder Guangdong Electric Power Development Corporation is the
Explanation on associated relationship
wholly-owned subsidiaries of the largest shareholder Guangdong Energy Group. These two
or concerted action of the above
companies have relationships; whether the other shareholders have relationships or
shareholders
unanimous acting was unknown.
The Fifth largest shareholder Li Zhuo holds98,780 A shares of the Company through stock
account with credit transaction and guarantee and holds 31,507,323 A shares through
ordinary stock account, hold 31,606,103 shares of the Company's stock totally;
Note to the top 10 common The Eighth largest shareholder Harbin Hali Industry Co., Ltd. holds 20,942,645 A shares of
stockholders involved in margin the Company through stock account with credit transaction;
financing & securities lending (If any) The Tenth largest shareholder Harbin Daoli District Charity Foundation holds72,287 A
shares of the Company through stock account with credit transaction and guarantee and
holds 13,650,606 A shares through ordinary stock account, hold 13,722,893 shares of the
Company's stock totally.
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 Company
have no buy –back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the
report period
□ Applicable √Not applicable
The First Quarterly Report 2019
III. Significant Events
I. Particular about large-margin change of main accounting statement item and financial index and its
reason.
√ Applicable □ Not applicable
In the first quarter of 2019, the electricity consumption of the whole society in Guangdong Province was 128.93
billion kilowatt hours, with a year-on-year increase of 3.8%, and the growth rate slowed down somewhat. Affected
by the year-on-year growth of 33.6% in XD and 25.7% in Nuclear Power, the coal-fired power generation unit in
the province witnessed a sharp year-on-year drop of nearly 22% in on-grid energy and 18.50% in on-grid energy.
In the first quarter of 2019, the company completed13.721 billion kilowatt-hours in combined on-grid energy,
with a year-on-year decrease of 10.10%; The average on-grid energy price in the consolidated statement was
464.80 yuan/kWh (inclusive of tax, the same below), with a year-on-year of 25.47 yuan/kWh; The cost of power
generation fuel was 3400.7693 million yuan, with a year-on-year decrease of 513.6758 million yuan and 13.12%.
Affected by the decline in coal prices and the decrease of the profit margin of market electricity, the company's
gross profit of power generation increased year on year. In the first quarter of 2019, the net profit attributable to
the shareholders of the parent company reached 109.52 million yuan, with a year-on-year increase of 1806.03%.
II. The progress of significant events and influence, as well as the analysis and explanation on resolving
proposal.
√ Applicable □ Not applicable
1. With the approval of the seventh meeting of the Ninth Board of Directors of the Company on January 25, 2019,
the Company adjusts the depreciation period of fixed assets in Shajiao Power Plant A from January 1, 2019. Net
profit attributable to the parent company is expected to decrease by about 174 million yuan in 2019 and 49 million
yuan annually from 2020 to 2023, and the owner's equity attributable to the parent company is expected to
decrease by about 174 million yuan in 2019 and 49 million yuan annually from 2020 to 2023.
2. In order to further promote the large-scale development of the company's offshore wind power in Guangdong
Province and the southeast coast, the seventh meeting of the ninth Board of Directors of the Company deliberated
on January 25, 2019 and agreed that the Company should invest in Zhuhai Jinwan Offshore Wind Power Project
(300,000 kilowatts), with a total dynamic investment of 5643.17 million yuan, of which 1,128.634 million yuan is
capital, accounting for 20% of the total dynamic investment of the project.
3. The Company's 2019 daily related party transactions are approved and implemented by the 2019 first
Provisional shareholders' General meeting held on February 21, 2019.
4. During the reporting period, Mr. Zhou Xi'an, the former director of the company, ceased to hold the post of
director of the company due to job changes. After the election of the first Provisional shareholders' General
meeting in 2019 held on February 21, 2019, Mr. Yan Ming served as a director of the Company.
5. During the reporting period, Guangdong Yudean Group Co., Ltd., the controlling shareholder of the Company,
changed its name to \"Guangdong Energy Group Co., Ltd.\" on February 18, 2019. It does not involve changes in
equity, the controlling shareholder, and nor does it affect the company's business activities. Neither the controlling
The First Quarterly Report 2019
shareholder nor the actual controller of the company has changed.
6. During the reporting period, the company bonds - \"12 Yudean Bonds\", completed the annual interest payment
for 2019 on March 18, 2019.
Announcement Date of disclosure Website for disclosure
Announcement of Resolutions of the 7th Meeting
January 26,2019 http//www.cninfo.com.cn.
of the Ninth Board of Directors
Announcement of the adjustment of depreciation
January 26,2019 http//www.cninfo.com.cn.
period of fixed assets in Shajiao A Power plant
Estimates announcement of the Daily Related
January 26,2019 http//www.cninfo.com.cn.
Party Transactions of2019
Announcement on Change of Controlling
February 18,2019 http//www.cninfo.com.cn.
Shareholder Name
Announcement of Resolutions of the First
February 22,2019 http//www.cninfo.com.cn.
provisional shareholders' general meeting of 2019
Announcement of Guangdong Electric Power
Development Co., Ltd. Concerning Payment of March 12,2019 http//www.cninfo.com.cn.
Corporate “12 Yudean Bonds” Interest of 2019
Progress in the implementation of share repurchase
□ Applicable √ Not applicable
Progress in the implementation of the reduction of the repurchased shares by means of centralized bidding
□ Applicable √ Not applicable
III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,
directors, supervisors, senior executives or other related parties in the reporting period and commitments
unfinished in implementation at the end of the reporting period
□ Applicable √Not applicable
No such cases in the reporting period.
IV．Prediction of Business performance for January- June 2019
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation of reason.
□ Applicable √ Not applicable
V. Securities investment
√ Applicable □Not applicable
Security Security Stock Initial Mode Book value Changes in Cumulative Purchas Sale Gain/loss Book value Account Source of
category code Abbreviation: investment of balance at fair value of fair value e amount of the balance at ing the shares
The First Quarterly Report 2019
cost accoun the the this changes in amount in the reporting the end of items
ting beginning of period equity in the this period the
measur the reporting this period reporting
ement period period period
Domestic Fair
and Shenzhen value Other
000027 15,890,628 66,150,000 15,624,000 65,883,372 81,774,000 Own-Funds
foreign Energy measur assets
stocks ement
Domestic Fair
and value Other
600642 Shenergy 235,837,988 270,997,380 41,093,865 76,253,257 312,091,245 Own-Funds
foreign measur assets
stocks ement
Domestic Fair
and value Other
831039 NEEQ 3,600,000 3,618,000 1,512,000 1,530,000 5,130,000 Own-Funds
foreign measur assets
stocks ement
Domestic Fair Transact
Yes
and value ional
002952 Optoelectroni 7,038 0 4,109 7,038 11,147 Own-Funds
foreign measur financial
cs
stocks ement assets
Domestic Fair Transact
Merit
and value ional
300766 Interactive 6,462 0 7,163 6,462 13,625 Own-Funds
foreign measur financial
Network
stocks ement assets
143,666,62
Total 255,342,116 -- 340,765,380 58,241,137 13,500 0 0 399,020,017 -- --
Disclosure date for the notice of
October 31,2018
approval by the Board (If any)
Disclosure date for the notice of
approval by shareholders’
Meeting (If any)
VI. Investment in derivatives
□ Applicable √Not applicable
There is no derivative investment during the report period.
VII. The registration form of acceptance of investigation, communication and interview in the report
period for future reference
√ Applicable □Not applicable
Reception time Way of reception Types of visitors Basic index
Details can be found in the Record Chart of the
Investor Relation Activity disclosed on Juchao
February 20,2019 Onsite investigation Organization
website(www.cninfo.com.cn) on 22 February
2019.
VIII. External guarantee get out of line
□ Applicable √Not applicable
No such cases in the reporting period.
IX. Controlling shareholder and its related parties occupying non-business capital of the listed company
□ Applicable √Not applicable
The First Quarterly Report 2019
No such cases in the reporting period.
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by: Guangdong Electric Power Development Co., Ltd.
March 31, 2019
In RMB
Items March 31,2019 December 31,2018
Current asset：
Monetary fund 4,945,898,685 5,574,382,892
Settlement provision
Outgoing call loan
Transactional financial assets
Financial assets measured at fair value
with variations accounted into current 24,772
income account
Derivative financial assets
Notes receivable & account receivable 2,565,480,167 3,358,331,949
Including： Notes receivable
Account receivable 2,565,480,167 3,358,331,949
Prepayments 724,215,151 906,261,046
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Other account receivable 232,809,569 222,976,826
Including：Interest receivable 22,205,621 18,856,570
Dividend receivable
Repurchasing of financial assets
Inventories 1,923,545,977 1,481,817,270
Contract assets
Assets held for sales
Non-current asset due within 1 year 88,553
Other current asset 505,757,909 617,853,476
Total of current assets 10,897,820,783 12,161,623,459
Non-current assets：
Loans and payment on other’s behalf
disbursed
Debt investment
Available for sale of financial assets 1,565,806,331
The First Quarterly Report 2019
Other investment on bonds
Expired investment in possess
Long-term receivable 90,346,689 89,762,071
Long term share equity investment 6,486,651,915 6,395,134,754
Other equity instruments investment 1,702,198,436
Other non-current financial assets
Property investment 10,454,314 10,810,722
Fixed assets 40,960,626,800 41,157,594,848
Construction in progress 7,743,182,239 7,740,754,343
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 1,851,918,885 1,863,588,771
Development expenses 1,598,931
Goodwill 2,449,886 2,449,886
Long-germ expenses to be amortized 21,292,158 22,089,179
Deferred income tax asset 463,491,803 448,431,684
Other non-current asset 1,800,570,854 1,871,616,258
Total of non-current assets 61,134,782,910 61,168,038,847
Total of assets 72,032,603,693 73,329,662,306
Current liabilities
Short-term loans 6,596,000,000 7,526,000,000
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Financial liabilities measured at fair value
with variations accounted into current
income account
Derivative financial liabilities
Notes payable & account payable 2,995,916,859 3,137,761,522
Advance receipts 390,631 343,894
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 206,798,763 235,741,179
Tax payable 276,836,872 397,001,706
Other account payable 4,160,534,744 4,152,518,495
Including：Interest payable 113,293,153 59,316,076
Dividend payable 9,703,930 9,703,930
Fees and commissions payable
Reinsurance fee payable
The First Quarterly Report 2019
Contract Liabilities
Liabilities held for sales
Non-current liability due within 1 year 2,106,713,038 2,779,347,654
Other current liability 1,061,680,873 1,107,904,110
Total of current liability 17,404,871,780 19,336,618,560
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 19,362,245,623 18,802,292,664
Bond payable 838,534,277 838,326,742
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 2,265,441,142 2,311,513,249
Long-term remuneration payable to staff 115,599,287 122,913,388
Expected liabilities
Deferred income 132,460,704 133,043,646
Deferred income tax liability 123,759,927 100,726,841
Other non-current liabilities 116,405,569 166,405,569
Total non-current liabilities 22,954,446,529 22,475,222,099
Total of liability 40,359,318,309 41,811,840,659
Owners’ equity
Share capital 5,250,283,986 5,250,283,986
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 5,102,846,886 5,102,846,886
Less：Shares in stock
Other comprehensive income 593,682,531 550,010,133
Special reserve
Surplus reserves 7,834,155,143 7,834,155,143
Common risk provision
Retained profit 5,599,524,606 5,490,006,140
Total of owner’s equity belong to the
24,380,493,152 24,227,302,288
parent company
Minority shareholders’ equity 7,292,792,232 7,290,519,359
Total of owners’ equity 31,673,285,384 31,517,821,647
Total of liabilities and owners’ equity 72,032,603,693 73,329,662,306
Legal Representative: Wang Jin Person in charge of accounting：Liu Wei Accounting Dept Leader: Meng Fei
2.Parent Company Balance Sheet
In RMB
The First Quarterly Report 2019
Items March 31, 2019 December 31, 2018
Current asset：
Monetary fund 628,153,315 385,577,463
Transactional financial assets
Financial assets measured at fair value
with variations accounted into current 24,772
income account
Derivative financial assets
Notes receivable & account receivable 150,914,726 264,537,475
Including：Notes receivable
Account receivable 150,914,726 264,537,475
Prepayments 45,800,060 44,826,500
Other account receivable 74,778,266 375,296,228
Including：Interest receivable 2,406,105 1,121,522
Dividend receivable 447,956
Inventories 169,862,583 187,058,140
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset 199,679 199,679
Total of current assets 1,069,733,401 1,257,495,485
Non-current assets：
Debt investment
Available for sale of financial assets 1,565,806,331
Other investment on bonds
Expired investment in possess
Long-term receivable 306,460,000 306,460,000
Long term share equity investment 24,827,909,466 24,699,820,321
Other equity instruments investment 1,702,198,436
Other non-current financial assets
Property investment 7,502,142 7,661,041
Fixed assets 910,525,491 978,022,437
Construction in progress 11,971,503 9,394,075
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 86,086,080 86,681,362
Development expenses
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset
Other non-current asset 356,004,000 356,004,000
The First Quarterly Report 2019
Total of non-current assets 28,208,657,118 28,009,849,567
Total of assets 29,278,390,519 29,267,345,052
Current liabilities
Short-term loans 1,500,000,000 1,500,000,000
Transactional financial liabilities
Financial liabilities measured at fair value
with variations accounted into current
income account
Derivative financial liabilities
Notes payable & account payable 137,347,906 223,827,319
Advance receipts
Contract Liabilities
Employees’ wage payable 47,074,276 53,346,100
Tax payable 23,030,958 48,590,195
Other account payable 113,289,250 98,528,954
Including：Interest payable 32,317,102 15,787,356
Dividend payable 9,703,930 9,703,930
Liabilities held for sales
Non-current liability due within 1 year
Other current liability 1,105,927,562 1,107,904,110
Total of current liability 2,926,669,952 3,032,196,678
Non-current liabilities：
Long-term loan 1,500,000,000 1,500,000,000
Bond payable 838,534,277 838,326,742
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 3,056,898 4,340,898
Long-term remuneration payable to staff 31,801,833 32,170,769
Expected liabilities
Deferred income 48,362,943 48,362,943
Deferred income tax liability 114,021,905 99,461,621
Other non-current liabilities
Total non-current liabilities 2,535,777,856 2,522,662,973
Total of liability 5,462,447,808 5,554,859,651
Owners’ equity
Share capital 5,250,283,986 5,250,283,986
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 5,605,794,601 5,605,794,601
Less：Shares in stock
The First Quarterly Report 2019
Other comprehensive income 593,682,531 550,010,133
Special reserve
Surplus reserves 7,834,155,143 7,834,155,143
Retained profit 4,532,026,450 4,472,241,538
Total of owners’ equity 23,815,942,711 23,712,485,401
Total of liabilities and owners’ equity 29,278,390,519 29,267,345,052
3.Consolidated Income statement
In RMB
Items Report period Same period of the previous year
I. Income from the key business 5,589,715,802 5,812,535,688
Including：Business income 5,589,715,802 5,812,535,688
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 5,448,292,472 5,861,825,692
Including：Business cost 4,937,475,435 5,380,318,561
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Net amount of withdrawal of insurance contract
reserve
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 41,001,643 34,361,198
Sales expense 6,295,103 4,817,203
Administrative expense 132,305,459 133,858,509
R & D costs 77,830 525,312
Financial expenses 331,137,001 307,944,909
Including：Interest expense 345,801,584 320,957,717
Interest income 16,268,357 14,820,083
Asset impairment loss
Credit impairment loss
Add：Other income 36,893,397 2,894,673
Investment gain（“-”for loss） 91,517,161 116,815,302
Including: investment gains from affiliates 91,517,161 116,815,302
Gains from currency exchange
Net exposure hedging income
Changing income of fair value 8,454
Income on disposal of assets 30,809
The First Quarterly Report 2019
III. Operational profit（“-”for loss） 269,842,342 70,450,780
Add ：Non-operational income 987,834 3,679,083
Less: Non-operating expense 2,688,294 1,189,871
IV. Total profit(“-”for loss) 268,141,882 72,939,992
Less：Income tax expenses 75,526,858 9,063,824
V. Net profit 192,615,024 63,876,168
(I) Classification by business continuity
1.Net continuing operating profit 192,615,024 63,876,168
2.Termination of operating net profit
(II) Classification by ownership
Net profit attributable to the owners of parent
109,518,462 5,745,879
company
Minority shareholders’ equity 83,096,562 58,130,289
VI. Net after-tax of other comprehensive income 43,672,399 -6,648,919
Net of profit of other comprehensive income attri 43,672,399 -6,648,919
butable to owners of the parent company.
（I）Other comprehensive income items that will
not be reclassified into gains/losses in the 43,672,399
subsequent accounting period
1.Re-measurement of defined benefit plans of ch
anges in net debt or net assets
2.Other comprehensive income under the equity
method investee can not be reclassified into profi
t or loss.
3. Changes in the fair value of investments in
43,672,399
other equity instruments
4. Changes in the fair value of the company’s
credit risks
5.Other
（II）
Other comprehensive income that will be reclassi -6,648,919
fied into profit or loss.
1.Other comprehensive income under the equity
method investee can be reclassified into profit or
loss.
2. Changes in the fair value of investments in
other debt obligations
3.Gains and losses from changes in fair value ava -6,648,919
ilable for sale financial assets
4. Other comprehensive income arising from the
reclassification of financial assets
5.Held-to-maturity investments reclassified to ga
ins and losses of available for sale financial asset
s
The First Quarterly Report 2019
6. Allowance for credit impairments in
investments in other debt obligations
7. Reserve for cash flow hedges
8.
Translation differences in currency financial stat
ements
9.Other
Net of profit of other comprehensive income attri
butable to Minority shareholders’ equity
VII. Total comprehensive income 236,287,423 57,227,249
Total comprehensive income attributable to the
234,920,763 -903,040
owner of the parent company
Total comprehensive income attributable
1,366,660 58,130,289
minority shareholders
VIII. Earnings per share
（I）Basic earnings per share 0.0209 0.0011
(II)Diluted earnings per share 0.0209 0.0011
The current business combination under common control, the net profits of the combined party before achieved ne
t profit of RMB 0.00, last period the combined party realized RMB0.00.
Legal Representative: Wang Jin Person in charge of accounting：Liu Wei Accounting Dept Leader: Meng Fei
4. Income statement of the Parent Company
In RMB
Items Report period Same period of the previous year
I. Revenue 393,185,298 465,311,491
Including：Business cost 424,777,175 449,858,137
Business tax and surcharge 2,653,793 1,821,322
Sales expense 350,336 437,911
Administrative expense 16,792,181 18,828,427
R & D costs
Financial expenses 50,152,227 47,457,181
Including：Interest expenses 50,952,925 48,844,389
Interest income 1,394,554 1,865,511
Asset impairment loss
Credit impairment loss
Add：Other income
Investment gain（“-”for loss） 161,309,228 195,076,685
Including: investment gains from
89,089,146 114,290,630
affiliates
Net exposure hedging income
Changing income of fair value 8,454
Income on disposal of assets -32,933
The First Quarterly Report 2019
II. Operational profit（“-”for loss） 59,777,267 141,952,265
Add ：Non-operational income 7,642 27,610
Less：Non -operational expenses 592,734
III. Total profit(“-”for loss) 59,784,909 141,387,141
Less：Income tax expenses -12,227,011
IV. Net profit 59,784,909 153,614,152
1.Net continuing operating profit 59,784,909 153,614,152
2.Termination of operating net profit
V. Net after-tax of other comprehensive
43,672,399 -6,648,919
income
（I）Other comprehensive income items
that will not be reclassified into
43,672,399
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
2.Other comprehensive income under th
e equity method investee can not be recl
assified into profit or loss.
3. Changes in the fair value of
43,672,399
investments in other equity instruments
4. Changes in the fair value of the
company’s credit risks
5.Other
（II）
Other comprehensive income that will b -6,648,919
e reclassified into profit or loss.
1.Other comprehensive income under th
e equity method investee can be reclassi
fied into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3.
Gains and losses from changes in fair v -6,648,919
alue available for sale financial assets
4. Other comprehensive income
arising from the reclassification of
financial assets
5.Held-to-maturity investments reclassif
ied to gains and losses of available for s
ale financial assets
6. Allowance for credit impairments
in investments in other debt obligations
7. Reserve for cash flow hedges
8.
Translation differences in currency fina
ncial statements
9.Other
The First Quarterly Report 2019
VI. Total comprehensive income 103,457,308 146,965,233
VII. Earnings per share
（I）Basic earnings per share
(II)Diluted earnings per share
5. Consolidated Cash flow statement
In RMB
Items Report period Same period of the previous year
I. Cash flows from operating activities
Cash received from sales of goods or
7,198,521,146 6,909,344,782
rending of services
Net increase of customer deposits
and capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from
other financial bodies
Cash received against original
insurance contract
Net cash received from reinsurance
business
Net increase of client deposit and
investment
Net increase of amount from disposal
financial assets that measured by fair
value and with variation reckoned into
current gains/losses
Cash received from interest,
commission charge and commission
Net increase of inter-bank fund
received
Net increase of repurchasing business
Net cash received by agent in
securities trading
Tax returned 4,664,390 4,180,540
Other cash received from business
433,730,029 102,634,309
operation
Sub-total of cash inflow 7,636,915,565 7,016,159,631
Cash paid for purchasing of
4,805,190,930 4,669,079,682
merchandise and services
Net increase of client trade and
advance
Net increase of savings in central bank
and brother company
Cash paid for original contract claim
Net increase in financial assets held
for trading purposes
The First Quarterly Report 2019
Net increase for Outgoing call loan
Cash paid for interest, processing fee
and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 413,894,277 376,566,617
Taxes paid 460,397,105 309,033,731
Other cash paid for business activities 152,337,595 121,435,845
Sub-total of cash outflow from
5,831,819,907 5,476,115,875
business activities
Net cash generated from /used in
1,805,095,658 1,540,043,756
operating activities
II. Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains 121,345
Net cash retrieved from disposal of
fixed assets, intangible assets, and 592,258 10,100
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to
713,603 10,100
investment activities
Cash paid for construction of fixed
assets, intangible assets and other 745,025,118 657,061,177
long-term assets
Cash paid as investment 78,692,039
Net increase of loan against pledge
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
823,717,157 657,061,177
investment activities
Net cash flow generated by investment -823,003,554 -657,051,077
III.Cash flow generated by financing
Cash received as investment 4,000,000
Including: Cash received as investment
4,000,000
from minor shareholders
Cash received as loans 2,526,712,472 2,446,395,253
Cash received from bond placing
Other financing –related cash received
Sub-total of cash inflow from financing
2,526,712,472 2,450,395,253
activities
Cash to repay debts 3,704,558,354 3,279,948,065
Cash paid as dividend, profit, or 432,017,527 462,961,076
The First Quarterly Report 2019
interests
Including: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing activities 712,667 137,119,426
Sub-total of cash outflow due to
4,137,288,548 3,880,028,567
financing activities
Net cash flow generated by financing -1,610,576,076 -1,429,633,314
IV. Influence of exchange rate
alternation on cash and cash -237 -446
equivalents
V.Net increase of cash and cash
-628,484,209 -546,641,081
equivalents
Add: balance of cash and cash
5,570,382,893 4,996,580,490
equivalents at the beginning of term
VI ..Balance of cash and cash
4,941,898,684 4,449,939,409
equivalents at the end of term
6. Cash Flow Statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
560,862,026 543,833,558
rending of services
Tax returned
Other cash received from business
9,331,847 16,238,994
operation
Sub-total of cash inflow 570,193,873 560,072,552
Cash paid for purchasing of
430,841,917 557,730,970
merchandise and services
Cash paid to staffs or paid for staffs 73,493,740 72,942,857
Taxes paid 26,279,908 17,395,705
Other cash paid for business activities 7,758,990 21,649,266
Sub-total of cash outflow from
538,374,555 669,718,798
business activities
Net cash generated from /used in
31,819,318 -109,646,246
operating activities
II. Cash flow generated by investing
Cash received from investment
300,000,000 187,920,000
retrieving
Cash received as investment gains 71,804,024 85,567,058
Net cash retrieved from disposal of
fixed assets, intangible assets, and 589,130 10,100
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
The First Quarterly Report 2019
Other investment-related cash received
Sub-total of cash inflow due to
372,393,154 273,497,158
investment activities
Cash paid for construction of fixed
assets, intangible assets and other 7,473,223 29,854,267
long-term assets
Cash paid as investment 117,379,238
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
124,852,461 29,854,267
investment activities
Net cash flow generated by investment 247,540,693 243,642,891
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 899,700,000 1,930,000,000
Cash received from bond placing
Other financing –related ash received
Sub-total of cash inflow from
899,700,000 1,930,000,000
financing activities
Cash to repay debts 900,000,000 2,159,693,500
Cash paid as dividend, profit, or
36,399,727 90,010,272
interests
Other cash paid for financing activities 84,195 310,954
Sub-total of cash outflow due to
936,483,922 2,250,014,726
financing activities
Net cash flow generated by financing -36,783,922 -320,014,726
IV. Influence of exchange rate
alternation on cash and cash -237 -446
equivalents
V.Net increase of cash and cash
242,575,852 -186,018,527
equivalents
Add: balance of cash and cash
385,577,464 429,724,538
equivalents at the beginning of term
VI ..Balance of cash and cash
628,153,316 243,706,011
equivalents at the end of term
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of any New
Standards Governing Financial Instruments, Revenue or Leases
√ Applicable □ Not applicable
The First Quarterly Report 2019
Consolidated balance sheet
In RMB
Items December 31, 2018 January 1, 2019 Adjustment
Current asset：
Monetary fund 5,574,382,892 5,574,382,892
Notes receivable & account
3,358,331,949 3,358,331,949
receivable
Account receivable 3,358,331,949 3,358,331,949
Prepayments 906,261,046 906,261,046
Other account receivable 222,976,826 222,976,826
Including：Interest receivable 18,856,570 18,856,570
Inventories 1,481,817,270 1,481,817,270
Other current assets 617,853,476 617,853,476
Total of current assets 12,161,623,459 12,161,623,459
Non-current assets：
Available-for-sale financial
1,565,806,331 Not applicable -1,565,806,331
assets
Long-term receivable 89,762,071 89,762,071
Long term share equity
6,395,134,754 6,395,134,754
investment
Other equity instruments
Not applicable 1,565,806,331 1,565,806,331
investment
Property investment 10,810,722 10,810,722
Fixed assets 41,157,594,848 41,157,594,848
Construction in progress 7,740,754,343 7,740,754,343
Intangible assets 1,863,588,771 1,863,588,771
Goodwill 2,449,886 2,449,886
Long-germ expenses to be
22,089,179 22,089,179
amortized
Deferred tax assets 448,431,684 448,431,684
Other non-current asset 1,871,616,258 1,871,616,258
Total of non-current assets 61,168,038,847 61,168,038,847
Total of assets 73,329,662,306 73,329,662,306
Current liabilities
Short-term loans 7,526,000,000 7,526,000,000
Notes payable & account
3,137,761,522 3,137,761,522
payable
Advance payment 343,894 343,894
Employees’ wage payable 235,741,179 235,741,179
Tax payable 397,001,706 397,001,706
Other account payable 4,152,518,495 4,152,518,495
Including：Interest payable 59,316,076 59,316,076
The First Quarterly Report 2019
Dividend payable 9,703,930 9,703,930
Non-current liability due
2,779,347,654 2,779,347,654
within 1 year
Other current liability 1,107,904,110 1,107,904,110
Total of current liability 19,336,618,560 19,336,618,560
Non-current liabilities：
Long-term loan 18,802,292,664 18,802,292,664
Bond payable 838,326,742 838,326,742
Long-term payable 2,311,513,249 2,311,513,249
Deferred income 133,043,646 133,043,646
Deferred income tax liability 100,726,841 100,726,841
Other non-current liability 166,405,569 166,405,569
Total non-current liabilities 22,475,222,099 22,475,222,099
Total of liability 41,811,840,659 41,811,840,659
Owners’ equity
Share capital 5,250,283,986 5,250,283,986
Capital reserves 5,102,846,886 5,102,846,886
Other comprehensive income 550,010,133 550,010,133
Surplus reserves 7,834,155,143 7,834,155,143
Retained profit 5,490,006,140 5,490,006,140
Total of owner’s equity belong to
24,227,302,288 24,227,302,288
the parent company
Minority shareholders’ equity 7,290,519,359 7,290,519,359
Total of owners’ equity 31,517,821,647 31,517,821,647
Total of liabilities and owners’
73,329,662,306 73,329,662,306
equity
Adjustment statement
According to the relevant requirements of the Ministry of Finance's new financial instruments standards, domestic
listed enterprises will implement the accounting standards related to new financial instruments as of January 1,
2019, so the Company will adjust the \"available-for-sale financial assets\" to the \"investment in other equity
instruments\" account at the beginning of this year.
Parent Company Balance Sheet
In RMB
Items December 31, 2018 January 1, 2019 Adjustment
Current asset：
Monetary fund 385,577,463 385,577,463
Notes receivable &
264,537,475 264,537,475
account receivable
Account receivable 264,537,475 264,537,475
Prepayments 44,826,500 44,826,500
Other account receivable 375,296,228 375,296,228
The First Quarterly Report 2019
Including：Interest
1,121,522 1,121,522
receivable
Dividend receivable 447,956 447,956
Inventories 187,058,140 187,058,140
Other current assets 199,679 199,679
Total of current assets 1,257,495,485 1,257,495,485
Non-current assets：
Available-for-sale
1,565,806,331 Not applicable -1,565,806,331
financial assets
Long term receivable 306,460,000 306,460,000
Long term share equity
24,699,820,321 24,699,820,321
investment
Other equity instruments
Not applicable 1,565,806,331 1,565,806,331
investment
Property investment 7,661,041 7,661,041
Fixed assets 978,022,437 978,022,437
Construction in progress 9,394,075 9,394,075
Intangible assets 86,681,362 86,681,362
Other non-current asset 356,004,000 356,004,000
Total of non-current assets 28,009,849,567 28,009,849,567
Total of assets 29,267,345,052 29,267,345,052
Current liabilities
Short-term loans 1,500,000,000 1,500,000,000
Notes payable & Account
223,827,319 223,827,319
payable
Employees’ wage payable 53,346,100 53,346,100
Tax payable 48,590,195 48,590,195
Other account payable 98,528,954 98,528,954
Including：Interest payable 15,787,356 15,787,356
Dividend payable 9,703,930 9,703,930
Other current liability 1,107,904,110 1,107,904,110
Total of current liability 3,032,196,678 3,032,196,678
Non-current liabilities：
Long-term loan 1,500,000,000 1,500,000,000
Bond payable 838,326,742 838,326,742
Long-term payable 4,340,898 4,340,898
Deferred income 48,362,943 48,362,943
Deferred income tax
99,461,621 99,461,621
liability
Total of Non-current
2,522,662,973 2,522,662,973
liabilities
Total of liability 5,554,859,651 5,554,859,651
Owners’ equity
Share capital 5,250,283,986 5,250,283,986
The First Quarterly Report 2019
Capital reserves 5,605,794,601 5,605,794,601
Other comprehensive
550,010,133 550,010,133
income
Surplus reserves 7,834,155,143 7,834,155,143
Retained profit 4,472,241,538 4,472,241,538
Total of owners’ equity 23,712,485,401 23,712,485,401
Total of liabilities and
29,267,345,052 29,267,345,052
owners’ equity
Adjustment statement
According to the relevant requirements of the Ministry of Finance's new financial instruments standards, domestic
listed enterprises will implement the accounting standards related to new financial instruments as of January 1,
2019, so the Company will adjust the \"available-for-sale financial assets\" to the \"investment in other equity
instruments\" account at the beginning of this year.
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of any New
Standards Governing Financial Instruments or Leases
□ Applicable √ Not applicable
III. Auditor’ report
Is the First Quarterly Report be audited?
□ Yes √No
The First Quarterly report is not audited.
The Board of Directors of Guangdong Electric Power Development Co., Ltd.
Chairman of the Board: Wang Jin
April 30, 2019
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