GUANGDONG ELECTRIC POWER DEVELOPMENT CO. LTD.The Semi-annual Report 2022
August 2022I. Important Notice Table of Contents and Definitions
The Board of Directors Supervisory Committee Directors Supervisors and Senior Executives of the Company
hereby guarantees that there are no misstatement misleading representation or important omissions in this report
and shall assume joint and several liability for the authenticity accuracy and completeness of the contents hereof.Mr.Wang Jin The Company leader Mr. Liu Wei Chief financial officer and the Mr.Meng Fei the person in
charge of the accounting department (the person in charge of the accounting )hereby confirm the authenticity and
completeness of the financial report enclosed in this semi-annual report.Other directors attending the Meeting for annual report deliberation except for the followed:
The name of director who did Position of absent Reason The name of director whonot attend the meeting in person director was authorized
Li Fangje Director Due to business Wang Jin
Li Baobing Director Due to business Zheng Yunpeng
The Company is mainly engaged in thermal power generation. The business of thermal power generation is
greatly affected by factors including electric power demand and fuel price. Refer to Section 10 of Chapter III of
this annual report-situation faced and countermeasures for relevant 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 Definitions
II. Company Profile & Financial Highlights.III. Management Discussion &Analysis
IV. Corporate Governance
V. Environmental & Social Responsibility
VI. Important Events
VII. Change of share capital and shareholding of Principal Shareholders
VIII. Situation of the Preferred Shares
IX. Corporate Bond
X. Financial ReportGuangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Documents available for inspection
1.Financial statements bearing the seal and signature of legal representative financial controller and the person
in charge of the accounting organ;
2..All original copies of official documents and notices which were disclosed in Securities Times China
Securities and Hong Kong Commercial Daily (Both English and 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 public
holidays Saturday and Sunday).
4Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Definition
Terms to be defined Refers to Definition
Guangdong Energy Group Refers to Guangdong Energy Group Co. Ltd.Sha A Power plant Refers to Guangdong Electric Power Development Co. Ltd. Sha A Power plant
Xinjiang Branch Refers to Guangdong Electric Power Development Co. Ltd.Xinjiang Branch
Qinghai Branch Refers to Guangdong Electric Power Development Co. Ltd. Qinghai Branch
Zhanjiang Electric Power Refers to Zhanjiang Electric Power Co. Ltd.Yuejia Company Refers to Guangdong Yuejia Electric Power Co. Ltd.Yuejiang Company Refers to Guangdong Shaoguan Yuejiang Power Generation Co. Ltd.Zhenneng Company Refers to Maoming Zhenneng Thermal Power Co. Ltd.Jinghai Company Refers to Guangdong Yudean Jinghai Power Co. Ltd.Humen Power Company Refers to Guangdong Yudean Humen Power Co. Ltd.Anxin Company Refers to Guangdong Yudean Anxin Electric Inspection & Installation Co. Ltd
Zhanjiang Zhongyue Refers to Zhanjiang Zhongyue Energy Co. Ltd.Bohe Company Refers to Guangdong Yudean Energy Co. Ltd.Huadu Company Refers to Guangdong Huadu Natural Gas Thermal Power Co. Ltd.Dapu Power Plant Refers to Guangdong Dapu Power Generation Co. Ltd.Wind Power Company Refers to Guangdong Wind Power Co. Ltd.Guangqian Company Refers to Shenzhen Guangqian Electric Power Co. Ltd.Electric Power Sales Company Refers to Guangdong Yudean Electric Power Sales Co. Ltd.Huizhou Natural Gas Company Refers to Guangdong Huizhou Natural Gas Power Co. Ltd.Red Bay Company Refers to Guangdong Red Bay Power Co. Ltd.Pinghai Power Plant Refers to Guangdong Huizhou Pinghai Power Co. Ltd.Lincang Company Refers to Lincang Yudean Energy Co. Ltd.Yongan Company Refers to Guangdong Yudean Yongan Natural Gas Thermal Power Co. Ltd.Binhaiwan Energy Company Refers to Guangdong Yudean Binhaiwan Energy Co. Ltd.Dayawan Energy Refers to Guangdong Yudean Dayawan Integrated Energy Co. Ltd.Qiming Energy Refers to Guangdong Yudean Qiming Energy Co. Ltd.Huaguoquan Company Refers to Shenzhen Huaguoquan Electric Industry Service Co. Ltd.Dananhai Company Refers to Guangdong Yudean Dananhai Intelligence Energy Co. Ltd.Yudean Baihua Refers to Guangdong Yudean Baihua Integrated Energy Co. Ltd.Bijie Energy Refers to Guangdong Bijie New Energy Co. Ltd.Shaoguan Energy Refers to Guangdong Shaoguan Yuedianli New Energy Co. Ltd.Henan Energy Refers to Henan Yudean New Energy Co. Ltd.Sha C Company Refers to Guangdong Shajiao( plant C) Power Generation Co. Ltd.Yuehua Power Generation Refers to Guangdong Yuehua Power Generation Co. Ltd.Yunhe Power Generation Refers to Guangdong Yudean Yunhe Power Generation Co. Ltd.Tumu Thermal Power Refers to Tumushuke Thermal Power Co.Ltd.Hanhai Energy Refers to Tumushuke Yudean Hanhai New Energy Co. Ltd.Shibeishan Wind Power Refers to Guangdong Yudean Shibeishan Wind Energy Development Co. Ltd.Dianbai Wind Power Company Refers to Guangdong Yudean Dianbai Wind Power Co. Ltd.Huilai Wind Power Company Refers to Huilai Wind Power Generation Co. Ltd.Yangjiang Wind Power Company Refers to Guangdong Yudean Yangjiang Offshore Wind Power Co. Ltd.Heping Wind Power Company Refers to Guangdong Yudean Heping Wind Power Co. Ltd.Pingyuan Wind Power Company Refers to Guangdong Yudean Pingyuan Wind Power Co. Ltd.Wuxuan Wind Power Company Refers to Guangxi Wuxuan Yudean New Energy Co. Ltd.Xupu Wind Power Company Refers to Hunan Xupu Yuefeng New Energy Co. Ltd.Pingdian Integrated Energy Company Refers to Huizhou Pingdian Integrated Energy Co. Ltd.Zhuhai Wind Power Company Refers to Guangdong Yudean Zhuhai Offshore Wind Power Co. Ltd.Zhanjiang Wind Power Company Refers to Guangdong Yudean Zhanjiang Wind Power Generation Co. Ltd.Qujie Wind Power Company Refers to Guangdong Yudean Qujie Wind Power Generation Co. Ltd.Leizhou Wind Power Company Refers to Guangdong Yudean Leizhou Wind Power Generation Co. Ltd.Tongdao Wind Power Company Refers to Tongdao Yuexin Wind Power Generation Co. Ltd.Yudean Fuel Company Refers to Guangdong Power Industry Fuel Co. Ltd.
5Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Yudean Insurance Captive Company Refers to Guangdong Yudean Property Insurance Captive Co. Ltd.Shanxi Energy Company Refers to Shanxi Yudean Energy Co. Ltd.Yudean Shipping Company Refers to Guangdong Yudean Shipping Co. Ltd.Yueqian Company Refers to Guizhou Yueqian Electric Power Co. Ltd.Energy Group Finance Company Refers to Guangdong Energy Group Finance Co. Ltd.Energy Financial Leasing Company Refers to Guangdong Energy Financial Leasing Co. Ltd.Guohua Taishan Company Refers to Guangdong Guohua Yudean Taishan Power Generation Co. Ltd.Weixin Energy Co. Ltd. Refers to Yunnan Yuntou Weixin Energy Co. Ltd.Zhongxinkeng hydropower station Refers to Yangshan Zhongxinkeng Power Co. Ltd.Jiangkeng hydropower station Refers to Yangshan Jiangkeng hydropower station
Southern Offshore wind power Refers to Southern Offshore wind power Union Development Co. Ltd.Sunshine Insurance Refers to Sunshine Insurance Group Co. Ltd.Shenzhen Capital Refers to Shenzhen Capital Group Co. Ltd.GMG Refers to GMG International Tendering Co. Ltd.Shenzhen Energy Refers to Shenzhen Energy Group Co. Ltd.Shenergy Company Refers to Shenergy Company Limited
Environmental Protection Company Refers to Guangdong Yudean Environmental Protection Co. Ltd.
6Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
II. Company Profile & Financial Highlights.I. Company Profile
Stock abbreviation Yue Dian Li A Yue Dian Li B Stock code： 000539200539
Stock exchange for listing Shenzhen 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 Representative Wang Jin
Ⅱ. Contact person and contact manner
Board secretary Securities affairs Representative
Name Liu Wei Huang XiaoWen
35F South Tower Yudean Plaza No.2 35F South Tower Yudean Plaza No.2
Contact address Tianhe Road East Tianhe Road East
GuangzhouGuangdong Province GuangzhouGuangdong Province
Tel (020)87570251 (020)87570251
Fax (020)85138084 (020)85138084
E-mail liuw@ged.com.cn Huangxiaowen@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 no change in
reporting period found more details in annual report 2021.
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. For
details please find the Annual Report 2021.
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 index
Whether it has retroactive adjustment or re-statement on previous accounting data
√Yes □ No
Retroactive adjustment or restatement of causes
7Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Merger of enterprises under the same control
Changes of this period
Reporting Same period of last year over same period of Last
period year(%)
Before adjustment After adjustment After adjustment
Operating income（Yuan） 22611239733 17781521221 20594038804 9.80%
Net profit attributable to the
shareholders of the listed -1375739165 109028853 326629275 -521.19%
company（Yuan）
Net profit after deducting of
non-recurring gain/loss
attributable to the shareholders -1399609834 90377204 267001900 -624.19%
of listed company（Yuan）
Cash flow generated by
business operation net -208358510 3096857643 3786846816 -105.50%（Yuan）
Basic earning per
share(Yuan/Share) -0.2620 0.0208 0.0622 -521.19%
Diluted gains per
share(Yuan/Share) -0.2620 0.0208 0.0622 -521.19%
Weighted average ROE(%) -6.23% 0.40% 1.02% -7.25%
As at the end Changed over last yearAs at the end of last year
of the reporting （％）
period Before adjustment After adjustment After adjustment
Gross assets Yuan 11747316202（ ） 5 114271451479 114491142111 2.60%
Net assets attributable to
shareholders of the listed 21910644854 23185079805 23402720821 -6.38%
company（Yuan）
Reasons of accounting policy change and correction of accounting errors
According to the relevant provisions of the Interpretation No.15 of Accounting Standards for Business
Enterprises (CK [2021] No.35) the income and cost related to the trial run sales are included in the current
profits and losses. The Company has calculated the trial run sales from January 1 2022 according to the
requirements of this Interpretation and made retrospective adjustments to the trial run sales that occurred from
January 1 2021 to January 1 2022.
1. Differences between accounting data under domestic and overseas accounting standards
1).Simultaneously pursuant to both Chinese accounting standards and international accounting standards
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 and Chinese
accounting standards.□ Applicable √Not applicable
None
8Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
2.Items and amount of non-current gains and losses
√Applicable □Not applicable
In RMB
Items Amount Note
Non-current asset disposal
gain/loss(including the write-off part for Mainly due to Yuejia Company shut-
which assets impairment provision is 31707133 down and liquidation of assets to obtain
made) income.Government subsidies recognized in
current gain and loss(excluding those Mainly due to power sales economic
closely related to the Company’s 15402657 policy incentives and subsidies for
business and granted under the state’s various power plant projects.policies)
Other non-business income and
expenditures other than the above 8080287
It is mainly due to the fine for land
Fines and overdue payment fees -5470272 reclamation of Pinghai Power Plant andthe tax delay charge of Guangqian Power
Plant.Non-current assets scrap income 2242304 It is mainly the income of JinghaiCompany's scrapped fixed assets.It is mainly the loss of scrapped fixed
Loss of Non-current assets scrapped -5145026 assets of Jinghai Company Zhongyue
Energy and Yuehua Company.Less: Amount of influence of income tax 13059777
Influenced amount of minor
shareholders’ equity (after tax) 9886637
Total 23870669
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 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses
and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information
Disclosure for Companies offering their securities to the public-non-recurring Gains and losses which have been
defined as recurring gains and losses it is necessary to explain the reason.√ Applicable □ Not applicable
Items Amount involved(RMB) Reason
Value-added tax will be refunded 19790415 Comply with national policies andimmediately regulations and continue to occur
Carbon emission quota used to fulfill the
emission reduction obligation -8000000
Comply with national policies and
regulations and continue to occur
9Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
III. Management Discussion &Analysis
Ⅰ.Main Business the Company is Engaged in During the Report Period
The Company mainly engages in the investment construction and operation management of power projects
and the production and sales of electric power. It belongs to the power heat production and supply industry
classified in the “Guidelines for the Industry Classification of Listed Companies” by the China Securities
Regulatory Commission. Since its foundation the Company has always adhered to the business tenet of
“Capital from the people using it for electricity and benefiting the public” and adheres to the business policy of
“Centering on the main business of electricity with diversified development” focusing on the main business of
power and making the power structure go diversified. In addition to the development construction and
operation of large-scale coal-fired power plants it also has clean energy projects such as LNG power generation
wind power generation and hydropower generation which provides reliable and clean energy to users through
the grid company. As of June 302022 the company has controllable installed capacity of 30.433 million
kilowatts and 71.68% including holding installed capacity of 28.6852 million kilowatts and equity participation
installed capacity of 1.7478 million kilowatts. Including: the holding installed capacity for coal-fired power
generation of 20.55 million kilowatts and 71.64%; the holding installed capacity for gas and electricity of 5.932
million kilowatts and20.68% and renewable energy generation like wind power and hydropower of 2.2032
million kilowatts and 7.68%.in addition The entrusted installed capacity of the Company for management is
8.854 million kilowatts accounting for 7.68% of the total (including 6.65 million kilowatts of thermal power
and 2.204 million kilowatts of hydropower). The above controllable installed capacity and entrusted installed
capacity for management totaled 39.287 million kilowatts.Income source is primarily contributed by power production and sales and main business income is derived
from Guangdong Province. The company electricity sales price is subject to the benchmark price verified 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 Guangdong Electricity Market Trade
Basic Rules and supporting files. In the reporting period the electricity sold is 46.349 billion kilowatt-hours
a decrease of 6.46% YOY; average price stated in the consolidated statements is 542.74 Yuan/ thousands
kilowatt-hours(tax included the same below ) YOY rise of 84.74 Yuan/ thousands kilowatt-hours an increase
of18.5% YOY; the total operating income was RMB 22611.24 million an increase of RMB 2017.20 million or
an increase of 9.8% YOY.Since the Company's main business is thermal power and the fuel cost accounts for a relatively large part of the
operating cost the fluctuation of coal and natural gas prices has a significant impact on the Company's
operating performance. During the reporting period affected by the increase in power generation and the
continuous increase in coal prices the company’s fuel costs were 18183.28 million yuan which accounted for
78.72% of the main business costs; Affected by the rebound in power generation and the rising coal price the
fuel cost for power generation increased by RMB 3152.92 million YOY an increase of 20.98%.During the reporting period due to the influence of COVID-19 and weather the demand for social electricity in
Guangdong Province declined and the Company's on-grid power consumption decreased slightly by 6.46%
year on year. Benefiting from the rising electricity price the Company's operating income increased slightly.However due to the high price of coal and other fuels the Company's subordinate thermal power plants
10Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
suffered large losses. In the first half of 2022 the company's thermal power business achieved net profit
attributable to its parent of -1959.68 million yuan and the new energy business achieved net profit attributable
to its parent of 322.77 million yuan a year-on-year increase of 39.49%. Although the profit contribution of the
Company's new energy power business increased significantly year on year the proportion of such business was
relatively small which made it difficult to make up for the loss of the Company's thermal power business
resulting in a sharp decline in the gross profit margin of the Company's main business and the net profit
attributable to its parent company. The net profit attributable to its parent company was-RMB 1375.74 million
with a year-on-year decrease of 521.19%.The Company shall comply with the disclosure requirements of "power supply industries" in the Guideline No.3
for Self-regulation of Listed Companies of Shenzhen Stock Exchange-Industry Information Disclosure
The Company's new energy development is based in Guangdong facing the whole country showing the "4+N"
regional layout with Guangdong Xinjiang Qinghai and Guizhou provinces as key development and other
domestic regions as active expansion. By the end of the reporting period the Company had put into production
21 new energy projects with a holding installed capacity of 1970400 kilowatts; It has 14 new energy projects
under construction including 1.04 million kilowatts of wind power and 1.006 million kilowatts of photovoltaic
power with a total holding installed capacity of 2.046 million kilowatts. During the Tenth Five-Year Plan
period the Company will actively grasp the development trend of accelerating energy transformation under the
goal of "emission peak" and "carbon neutrality" implement the strategy of "1+2+3+X" actively expand the
resources of new energy projects through self-construction and acquisition fully promote the leap-forward
development of new energy and build an ecological and civilized power enterprise.
1. As of June 30 2022 the holding new energy power generation projects that the Company has put into
production are as follows:
Project type Project name Installed capacity (10000kilowatts) Shareholding ratio
Wind Power Zhanjiang Xuwen Yangqian 4.95 70%
Wind Power Zhanjiang Xuwen Yongshi 4.95 70%
Wind Power Jieyang Huilai Shibeishan 10.0 70%
Wind Power Jieyang Huilai Haiwanshi 1.4 90%
Wind Power Maoming Dianbai Reshui 4.95 100%
Wind Power Zhanjiang Leizhou Hongxinlou 4.95 94%
Wind Power Zhanjiang Xuwen Shibanling 4.95 100%
Wind Power Zhanjiang Xuwen Qujie 4.95 100%
Wind Power Wailluo Offshore wind power 19.8 100%
Wind Power Xuwen Wutushan Wind Power 4.95 51%
Wind Power Xuwen Dengjiao Wind Power 4.95 51%
Wind Power Pingyuan Maoping 4.8 100%
Wind Power Zhuhai Jinwan Offshore wind 30 74.49%power
Wind Power Zhangjiang Xuwen Wailuo II 20 100%Offshore wind power
Wind Power Zhanjiang Xuwen Wailuo 20.35 100%Offshore wind power
Wind Power Yangjiang Shapa offshore Wind 30 91.41%
11Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
power
Wind Power Guangxi Wuxuan 5 100%
Wind Power Hunan Xupu Taiyangshan 5 100%
Wind Power Hunan Tongdao Dagaoshan 5 100%
Wind Power Shanwei Power Plant 1.08 65%Decentralized Wind Power
Wind Power Nanxiong Zhuan Village 4.99 100%
Total 197.04
2. As of June 30 2022 the new energy project under construction by the Company are as follows:
Project type Project name Installed capacity (10000kilowatts) Shareholding ratio
Wind Power Pingyuan Sishui 4 100%
Wind Power Yangjiang Qingzhou I 40 100%
Wind Power Yangjiang Qingzhou II 60 100%
Photovoltaic Zhanjiang Potou Qiantang 10 100%
Photovoltaic Zhangjian Potou 12 90%
Photovoltaic Xinjiang Hanhai Photovoltaic project 40 100%
Photovoltaic Mujing Xipo Photovoltaic project 10 100%
Photovoltaic Muhong Xipu Photovoltaic project 10 100%
Photovoltaic Xinhui Photovoltaic project 0.92 100%
Photovoltaic Dapu Photovoltaic project 0.18 100%
Photovoltaic Yunhe Bojia Photovoltaic project 0.12 100%
Photovoltaic Jinxiu Rooftop Photovoltaic project I 0.339 100%
Photovoltaic Meizhou Wuhua Huangnizhai Project 7 100%
Photovoltaic Shanxi Hongdong Project 10 100%
Total 204.6
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 of more
than 117.473 billion. It is the largest listed company of power in Guangdong Province. It is the only listed
company with over 100 billion assets controlled by state-owned holdings in Guangdong province. As of June
302022 The company's controllable installed capacity and entrusted managed installed capacity totaled 39.287
million kilowatts accounting for 24% of the total installed capacity 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 its resources
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 of Guangdong
Province and Guangdong Yudean Group. It has deeply cultivated the main power industry actively played the
value discovery function and resource allocation function of the capital market and assisted the reform and
development of Guangdong Province's energy resources.
3. Comprehensive advantages of main business
Guided by the national energy development strategy the Company is implementing the "1+2+3+X" strategy - to
12Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
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 and vigorously develop new energy energy storage
hydrogen energy and land park development. The Company has abundant 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 development prospects.
4. Competitive advantage in electricity market
The company's generator set has high parameters large capacity high operation efficiency low coal consumption
stable operation superior environmental protection performance and strong market competitive advantage. In the
first half of 2021 the company completed a total of 46.349 billion kilowatt-hours of electricity in the market and
the scale of electricity sales continued to rank first in the province with electricity sales prices superior 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 comprehensive resources 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 as comprehensive
energy saving and power consumption consultation for users thus realizing the transformation from a power
generation enterprise to an energy comprehensive service enterprise.
5. Advantage of financial resources
The Company's total assets reach 100 billion and the cash flow of its stock business is abundant which provides a
good support for the Company's sustainable development. The Company has a good asset-liability ratio and rich
financing channels and it can make full use of internal and external financial resources thus providing a strong
financial guarantee for its production and operation key project construction and the rapid development of new
energy industry.
6. Regional development advantages
As the main energy source in Guangdong Province the company shoulders the important task of helping
Guangdong Province to build a clean low-carbon safe and efficient modern energy system. The company will
actively integrate into the construction of Guangdong-Hong Kong-Macao Greater Bay Area Shenzhen's advanced
demonstration zone and the development of Guangdong's "one core one belt and one area". It will steadily push
forward the construction of key energy projects and the development of new energy resources in the province and
actively seek to expand into regions with better resource conditions and higher power demand Help the "30·60"
target to be implemented.III.Main business analysisFound more in”I. Main businesses of the Company in the reporting period”
Changes in the financial data
In RMB
This report period Same period last
YOY
year change Cause change
（%）
Operating income 22611239733 20594038804 9.80%
Operating cost 23114184606 19228178330 20.21%
Sale expenses 30460050 35594988 -14.43%
Administrative
expenses 477955874 413435343 15.61%
It is mainly due to the large demand for new
Financial expenses 1081057844 624202906 73.19% energy development funds and the impact ofhigh coal prices on cash flow causing increase
of the Company's external financing.
13Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
It is mainly due to the year-on-year loss of the
Income tax Company the year-on-year decrease in income
expenses -146480556 160600093 -191.21% tax expenses in the first half of the year and therecognition of deferred income tax assets by
some power plants.It is mainly because that the affiliated power
plants of the Company increase R&D
R & D Investment 754240473 124873808 504% investment and meanwhile strengthen thecollection and management of R&D expenses
causing substantial increase of the R&D
expenses year on year.Cash flow
generated by It is mainly because of the obvious increase of
business operation -208358510 3786846816 -105.50% capital expenditure related to coal purchase due
net to high coal price.It is mainly because Bohe Company received
Net cash flow the terminal disposal payment this year
generated by -2908067376 -4246922377 -31.53% resulting in a large year-on-year increase in the
investment net cash recovered from the disposal of fixedassets intangible assets and other long-term
assets.Net cash flow It is mainly due to the large demand for new
generated by 5861027285 578363307 913.38% energy development funds and the impact of
financing high coal prices on cash flow causing increaseof the Company's external financing.Net increasing of
cash and cash 2744601884 118287624 2220.28% Affected by above three reasons..equivalents
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 period Same period last year
Increase /decrease
Amount Proportion Amount Proportion
Total operating
revenue 22611239733 100% 20594038804 100% 9.80%
On Industry
Electric power
Steam sales and 22423023603 99.17% 20336788241 98.75% 10.26%
labor income
Other 188216130 0.83% 257250563 1.25% -26.84%
On products
Sales Electric
Power 22263672844 98.46% 20226322357 98.21% 10.07%
Flyash sales 171920045 0.76% 241216389 1.17% -28.73%
Thermal sales 102972035 0.46% 71811712 0.35% 43.39%
Other 72674809 0.32% 54688346 0.27% 32.89%
Area
Guangdong 22117126665 97.81% 20568341641 99.88% 7.53%
Xinjiang 400459803 1.77% 0 0% 0%
Hunan 39790974 0.18% 0 0% 0%
Yunnan 29159946 0.13% 25697163 0.12% 13.48%
Guangxi 24702345 0.11% 0 0% 0%
14Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(2)Situation of Industry Product and District Occupying the Company’s Business Income and Operating Profit
with Profit over 10%
√ Applicable □Not applicable
In RMB
Increase/decrea Increase/decrea Increase/decrea
Gross se of revenue in se of business se of gross
Turnover Operation cost profit the same period cost over the profit rate over
rate(%) of the previous same period of the same period
year(%) previous year of the previous(%) year (%)
On Industry
Electric power
Steam sales and 22423023603 23089561766 -2.97% 10.26% 20.13% -8.38%
labor income
On Products
Sales Electric
Power 22263672844 22945031969 -3.06% 10.17% 20.14% -8.64%
Including：
Fire coal
Generation 17169530056 18730511707 -9.09% 12.63% 25.45% -11.15%
Power
Gas
Generation 3461327463 3436132473 0.73% -16.60% -7.74% -9.53%
Power
Wind
Generation 1394395581 572124201 58.97% 145.85% 147.64% -0.30%
Power
Boomass
Generation 209260940 177800516 15.03% -12.34% -2.97% -8.21%
Power
Hydroelectric 29158804 28463072 2.39% 13.56% -2.23% 15.76%
Generation
Area
Guangdong 22117126665 22594635431 -2.16% 7.53% 10.10% -2.38%
Under circumstances of adjustment in reporting period for statistic scope of main business data adjusted main
business based on latest on year’s scope of period-end.□ Applicable √Not applicable
Explanation for a year-on –year change of over 30%
√Applicable □ Not applicable
As the second-phase wind power projects of Yangjiang Zhuhai Pingyuan Xinliao and Wailuo were completed
and put into operation the electricity sales income and cost of wind power business increased year on year.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 period End of same period of last year Change in Reason for
percentage( significant
Amount As a percentage As a percentageof total assets(%) Amount of total %) change
15Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
assets(%)
Monetary fund 10854693285 9.24% 8105320953 7.08% 2.16%
Accounts
receivable 7068283704 6.02% 7030685357 6.14% -0.12%
Contract assets 1044260 0% 4754820 0% 0%
Inventories 3135765795 2.67% 2998894539 2.62% 0.05%
Real estate
Investment 374128161 0.32% 378796932 0.33% -0.01%
Long-term
equity 8426522587 7.17% 8072208350 7.05% 0.12%
investment
Fixed assets 60916046309 51.86% 57145099423 49.91% 1.95%
Construction in
process 5744786187 4.89% 8710691765 7.61% -2.72%
Usage right
assets 5172621990 4.40% 5256124979 4.59% -0.19%
Short -term
loans 15702140981 13.37% 12360296429 10.80% 2.57%
Contract
liabilities 17160884 0.01% 5864811 0.01% 0%
Long-term
loans 31647408640 26.94% 28940577856 25.28% 1.66%
Lease liabilities 5038032075 4.29% 4728167142 4.13% 0.16%
2.Main assets overseas
□ Applicable √Not applicable
3.Asset and Liabilities Measured by Fair Value
√ Applicable □Not applicable
In RMB
Impairme
Gain/Loss on Cumulative fair nt Purchased Sold
Items Opening fair value value change provision
amount in amount in Closing
amount change in the recorded into s in the the the End of term
reporting period equity reporting reporting reporting
mount
period period period
Financial assets
1. Other equity
instrument 3232028682 -125090302 2166775764 2000000 3108938380
investments
Subtotal 3232028682 -125090302 2166775764 2000000 3108938380
Total 3232028682 -125090302 2166775764 2000000 3108938380
Financial
Liability 0 0
Other change
On May 31 2022 the Company invested in the establishment of Xinjiang Yuejianeng New Energy Equipment
Co. Ltd. and held 10% equity which did not have a significant impact on Xinjiang Yuejianeng New Energy
Equipment Co. Ltd. so it was counted as other equity instruments.Did 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 2022 individual subsidiaries of the Group pledged the right to impose electricity charges to banks to
obtain long-term loans of RMB6003749532of which: the balance of long-term loans due within one year was
16Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
371037089 yuan (as of December 31 2021: 6002119898 yuan). including: the long-term borrowings due
within one year amounted to RMB386056214 .
17Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
VI. Investment situation
1. General
√ Applicable □ Not applicable
Investment of the period Investment of same period of last year Scale of change
4475718001254358100-64.32%
2.Condition of Acquiring Significant Share Right Investment during the Report Period
√Applicable □ Not applicable
In RMB
Invest Share Capit Inves
Progress Anti Whethe
Name of the Company Main ment Investment Propor al Partne tment Product
up to cipat Gain or Less r to Date of
Invested Business Way Amount tion % Sour r Horiz Type
Balance ed or the Current InvolveSheet Investment in Disclosure(if any)
Disclosure Index(if any)
ce on Date Income Lawsuit
Tumushuke Yudean solar New In AnnouncementNo.:2022-11.Published in
Hanhai New Energy power establgeneratio ishme 276050000 100%
Self Long Electric normal
Co. Ltd. funds
No -term Power operatio -71600 No March 262022 China Securities Daily Securities
n nt n Times and http//.www.cninfo.com.cn
Wind Capit In AnnouncementNo.:2021-78.Published in
Guangdong Wind Poer Poer al Self Long Electric normal
Generation Co. Ltd. Generatio increa 110000000 100% funds No -term Power operatio 322770621 No November 92021 China Securities Daily Securities
n se n Times and http//.www.cninfo.com.cn
Guangdong Yudean Natural Capit In AnnouncementNo.:2022-16)Published in
Dananhai Intelligence Gas al 25900000 100% Self No Long Electric normal
Energy Co. Ltd. Generatio increa funds -term Power operatio
-726895 No April 222022 China Securities Daily Securities
n se n Times and http//.www.cninfo.com.cn
Guangdong Yudean Natural Capit In AnnouncementNo.:2010-58.Published in
Qiming Energy Co. Gas al 12000000 100% Self No Long Electric normal November
Ltd. Generatio increa funds -term Power operatio
-7239523 No 292019 China Securities Daily Securities
n se n Times and http//.www.cninfo.com.cn
Guangdong Yudean Thermal Capit In AnnouncementNo.:2020-52.Published in
Dapu Power power alGeneratio increa 10000000 100%
Self
funds No
Long Electric normal -224818186 No October 132020 China Securities Daily Securities
Generation Co. Ltd. -term Power operation se n Times and http//.www.cninfo.com.cn
Guangdong Yudean Natural Capit In AnnouncementNo.:2020-13.Published in
Binhaiwan Energy Co. Gas alGeneratio increa 9000000 100%
Self No Long Electric normal
Ltd. funds -term Power operatio
-9974561 No April 112020 China Securities Daily Securities
n se n Times and http//.www.cninfo.com.cn
Yudean Jinxiu Energy solar Capit Jinxiu In
Co. Ltd. power al 2621800 90%
Self Long Electric
generatio increa funds
Jinhen
g New -term Power
normal 0 No Not applicable Not applicable
operatio
18Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
n se Energ n
y
Techn
ology
Co.Ltd.Guangdong Shaoguan solar New In
Yudean New Energy power establ Self Long Electric normal
Co. Ltd. generatio ishme
2000000 100% funds No -term Power operatio 1339 No Not applicable Not applicable
n nt n
Total -- -- 447571800 -- -- -- -- -- -- 0 79941195 -- -- --
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
Book value Purchas Sale Book value
Security Security Stock Initial
Mode of e
accounting balance at the Changes in Cumulative fair amount
Gain/los balance at the
category code Abbreviatio investment measureme beginning of fair value of value changes in
amount in the s of thein the reportin end of the
Accountin Source of
n: cost the reporting the this period equity this reporting g items the sharesnt period this g periodperiod period period
Domestic Other
and foreign 000027 ShenzhenEnergy 15890628 FVM 122472000 -25552800 81028572 96919200
equity Self funds
stocks instrumentInvestment
Domestic Other
and foreign 600642 Shenergy 235837988 FVM 409272682 -93849502 79585192 315423180 equity
stocks instrument
Self funds
Investment
Domestic
and foreign 831039 NEEQ 3600000 FVM 15984000 -5688000 6696000 10296000
Other
equity Self funds
19Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
stocks instrument
Investment
Total 255328616 -- 547728682 -125090302 167309764 0 0 0 422638380 -- --
Disclosure date for the notice of
approval by the Board (If any) October 312019
（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. Sales of major assets
□ Applicable √ Not applicable
The Company had no sales of major assets in the reporting period.
2.Sales of major equity
□ Applicable √ Not applicable
20Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
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 the
Company
In RMB
Company
name Type
Main Registered
business capital Total assets Net assets Turnover
Operating
profit Net Profit
Power
Guangdong generation
Wind Power Subsidiar and power
Generation y station 3623202870 31130054654 7396821131 1394395581 377393582 359686605
Co. Ltd. construction.Guangdong Power
Yudean generation
Jinghai Power Subsidiar and powery station 2919272000 8097329142 2802934584 2964790103 -240897944 -179991581Generation
Co. Ltd. construction.Guangdong Power
Huizhou generation
Natural gas Subsidiar and power
Power y station 1499347500 3409179604 1910312113 1414352530 14606695 11075874
Generation construction
Co. Ltd. .Shenzhen Power
Guangqian generation
Electric Subsidiar and powery station 1030292500 2016331469 1811350341 779138067 232284582 174741317Power Co.Ltd. construction.Guangdong
Huizhou Power
Pinghai generation
Power Subsidiar and powery station 1370000000 4678430065 1796987389 2432384327 -83773800 -94006025Generation
Plant Co. construction
Ltd. .Guangdong
Electric
Power SharingCompany Fuel Trade 1190000000 11357046528 1751925945 17314930225 66759505 74147449Industry Fuel
Co. Ltd.Guangdong
Guohua Power
Yudean generation
Taishan Sharing and power
Power Company station
46695000001205957305691958523205220268344424647161318537101
Generation construction
Co. Ltd. .Shanxi
Yudean Sharing Mining and
Energy Co. Company power 1000000000 8479231085 6674976496 72490741 696802990 696793898
Ltd. generation
Guangdong
Yudean Sharing Transportati
Shipping Co. Company on and port 2465800000 2018500961 731751168 661785270 -4341757 16813118
Ltd. operation
Guangdong
Energy Group Sharing
Finance Co. Company Finance 3000000000 25555386786 4028724301 377919901 256911522 203699560
Ltd.
21Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Acquirement and disposal of subsidiaries in the Reporting period
√ Applicable □ Not applicable
Way of acquiring and disposing of
Company name subsidiary corporations within the Impact on the whole producing operation
reporting period and performance
Tumushuke Yudean Hanhai New Energy Invested During the reporting period Hanhai NewCo. Ltd. Energy Project progressed normally.During the reporting period Jinxiu
Yudean Jinxiu Integrated Energy Co. Invested Comprehensive Energy Project was in theLtd. preliminary stage and the construction was
not commenced.Guangdong Shaoguan Yudean New During the reporting period Shaoguan New
Energy Co. Ltd. Invested Energy Project was in the preliminary stageand the construction was not commenced.Note
1. During the reporting period due to the high price of coal and gas the cost of power generation increased
substantially and the Company's thermal power business suffered a loss compared with the same period of last
year;
2. As the second-phase wind power projects of Yangjiang Zhuhai Pingyuan Xinliao and Wailuo were
completed and put into operation the profit of wind power business increased year on year;
3. As coal prices continue to rise the operating performance of Shanxi Energy and other associated companies
is improving and the Company's investment income has increased substantially year on year.IX．Structured vehicle controlled by the Company
□ Applicable √ Not applicable
X. Risks facing the Company and countermeasures
1. Work safety risk
As extreme weather events are becoming increasingly frequent which causes certain adverse effects to the
normal production and operation of enterprises the Company needs to further strengthen the prevention of
natural disasters; some thermal power units in the Company have been running for a long time with problems
such as decline of efficiency level aging of equipment and decline of operation safety and reliability and some
contractors have insufficient safety awareness and inadequate safety management.Countermeasures: First pay close attention to rain and flood and well ensure flood control and typhoon
prevention; Second strengthen equipment maintenance and operation management earnestly carry out overhaul
& maintenance operation management and technical supervision improve the equipment management system
well ensure elimination of equipment defects and improve the reliability of unit equipment; Third strictly
manage contractors well control the "access" resolutely put an end to illegitimate subcontracting and illegal
subcontracting encourage appraisal activities to reward outstanding contractors strengthen the safety education
and training of contractors and continuously improve the safety management of contractors.
2. Fuel cost risk
In 2022 the domestic coal production capacity continues to be released under the policy of ensuring supply and
stabilizing prices but the domestic coal fundamentals still shows tight supply and increased demand and coal
prices remain at a high level. Meanwhile as the geopolitical game in the international energy market intensifies
the global coal supply expectation is uncertain and the uncertainty of the future trend of overseas coal prices
increases. The cost of coal accounts for a large proportion of the Company's main business cost and the
fluctuation of coal price has a significant impact on the Company's operating performance. If the coal price
remains high the Company's operating efficiency will continue to be under serious pressure.
22Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Countermeasures: First optimize fuel procurement and reduce costs through "precise inventory" strategy
increasing economic coal blending optimizing unit energy consumption etc.; Second improve the market
operation level and increase generation of efficient electricity; Third actively strive for full implementation of
national regulatory policies and improve the performance rate of long-term cooperative contracts; Fourth
increase budget control and strengthen other cost management.
3. Adjustment risk of power supply structure
Under the background of "30*60" goal of emission peak and carbon neutrality the central government has
clearly built a new power system with new energy as the mainstay to accelerate the transformation of China's
energy production and consumption to green and low-carbon and increase the installed capacity and power
growth of wind power photovoltaic power and other new energy which will further decrease the living space
of coal-fired generating units. At present the Company's coal-fired power business accounts for a relatively
high proportion and the transformation pressure of clean and low-carbon power supply is high.Countermeasures: First the Company will actively increase investment in new energy projects and accelerate
the progress of new energy projects according to the national double-carbon goal and the relevant requirements
of new energy development planning. Second continue to increase investment and development of clean energy
and project reserves steadily and orderly promote the construction of Dayawan Comprehensive Energy Station
Zhaoqing Yongan Natural Gas Thermal Power Project Yunfu Natural Gas Cogeneration Project and Yangjiang
Qingzhou Offshore Wind Power Project actively explore new energy development space in other provinces and
regions in China increase new energy development efforts in Xinjiang Guizhou Hebei Qinghai Guangxi and
other regions and enrich the reserves of new energy projects. Third deeply explore the distributed energy
supply of cold heat electricity and gas as well as the infrastructure construction such as electricity exchange
charging piles and energy storage as well as the development and utilization of hydrogen energy. Fourthly
continuously optimize the management of carbon assets make full use of internal and external resources utilize
the advantages of group operations strengthen the management of carbon emission data and management of
carbon asset operation enhance internal coordination promote energy conservation and carbon reduction and
realize the increment and profit of carbon assets.
23Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
IV. Corporate Governance
I. Annual General Meeting and Provisional Shareholders’ Meetings in the Reporting Period
1.Annual General Meeting
Investor
Meeting Type participation Convened date Disclosure date Index to disclosed information
ratio
First Provisional Provisional Announcement No.:2022-10).Shareholders’ Shareholders’ Published in China Securities D
general meeting general 78.75% February 222022 February 232022 aily Securities Times and http//
of 2022 meeting .www.cninfo.com.cn
2021 Annual Announcement No.:2022-29)..
Shareholders’ Shareholders’ Published in China Securities D
general meeting General
72.68% May 202022 May 212022 aily Securities Times and http//
Meeting .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
Name Positions Types Date Reason
Elected as the director
of the tenth board of di
Li Xiaoqing Director Elected May 202022 rectors of the company
by the company's 2021
annual general meeting
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 into
share capital in half year.IV. Implementation of any equity incentive plan employee stock ownership plan or other incentive
measures for employees
□ Applicable √ Not applicable
None.
24Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
V. Environmental & Social Responsibility
I. Significant environmental issues
Whether the Company or any of its subsidiaries is identified as a key polluter by the environment authorities
√ Yes □No
Main Emis Excess
Company pollutant Emissi Emission sion Total Verified ive
or and Emission on port port conce Implemented emissio total emissi
subsidiary specific way numbe distribution ntrati pollutant emission n emission( on
name pollutant r condition on standards(mg/ (Tons) Tons) conditiname Nm3) on
Concentra Emission Standard
Shajao A ted of Air Pollutants for
Power Smoke emission 1 Within the Thermal Power
Plant through factory
1.12 Plants (GB13223- 6.92 6.92 No
chimney 2011) specialemission limit
Concentra Emission Standard
Shajao A ted of Air Pollutants for
Power SO emission 1 Within the 15.97 Thermal Power2 factory Plants (GB13223- 98.33 98.33 NoPlant through
chimney 2011) specialemission limit
Concentra Emission Standard
Shajao A ted of Air Pollutants for
Power NO Within the Thermal PowerX emission 1 factory 29.89 Plants (GB13223- 184.01 184.01 NoPlant through
chimney 2011) specialemission limit
Guangdo Concentra Emission Standardng of Air Pollutants for
Yudean ted
Bohe Smoke emission 2
Within the
factory 1.78
Thermal Power
Plants (GB13223- 16.29 72 No
Energy throughchimney 2011) specialCo. Ltd. emission limit
Guangdo Emission Standard
ng Concentra of Air Pollutants for
Yudean tedSO Within the Thermal PowerBohe 2 emission 2 factory 13.89 Plants (GB13223- 127.27 974 No
Energy throughchimney 2011) specialCo. Ltd. emission limit
Guangdo Emission Standard
ng Concentrated of Air Pollutants forYudean NO emission 2 Within the Thermal PowerBohe X through factory
37.45 Plants (GB13223- 351.28 1195 No
Energy chimney 2011) specialCo. Ltd. emission limit
Guangdo Emission Standard
ng Concentrated of Air Pollutants forYudean
Dapu Smoke emission 2
Within the 2 Thermal Powerfactory Plants (GB13223- 20.73 593 No
Power throughchimney 2011) specialPlant emission limit
Guangdo Concentra Emission Standardng
Yudean ted
of Air Pollutants for
SO emission 2 Within the 13.63 Thermal PowerDapu 2 through factory Plants (GB13223-
141.39 1447 No
Power chimney 2011) specialPlant emission limit
Guangdo Concentra Emission Standardng ted of Air Pollutants forYudean
Dapu NOX emission 2
Within the 38.73 Thermal Power
through factory Plants (GB13223-
401.82 1502 No
Power chimney 2011) specialPlant emission limit
25Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Guangdo Concentra Emission Standardng Red ted of Air Pollutants forBay Smoke emission 4 Within the 2.2 Thermal Power 36.42 UnapprovPower No
General through
factory Plants (GB13223- ed
chimney 2011) specialCo. ltd. emission limit
Guangdo
ng Red Concentra
Emission Standard
of Air Pollutants for
Bay tedSO emission 4 Within the 9.21 Thermal Power UnapprovPower 2 through factory Plants (GB13223-
177.46 ed No
General chimney 2011) specialCo. ltd. emission limit
Guangdo Concentra Emission Standardng Red ted of Air Pollutants forBay
Power NOX emission 4
Within the 32.5 Thermal Power 579.48 Unapprov
through factory Plants (GB13223- ed
No
General chimney 2011) specialCo. ltd. emission limit
Guangdo
ng Concentra Emission Standard
Yudean ted of Air Pollutants for
Jinghai Smoke emission 4 Within the Thermal Powerfactory 2.17 Plants (GB13223- 61.36 1770 NoPower through
General chimney 2011) special
Co. Ltd. emission limit广
Guangdo Concentra Emission Standardng of Air Pollutants for
Yudean tedSO emission 4 Within the 16.89 Thermal PowerJinghai 2 factory Plants (GB13223- 477.83 6502 No
Power throughchimney 2011) specialGeneral emission limit
Co. Ltd.Guangdo
ng Concentra Emission Standard
Yudean ted of Air Pollutants for
Jinghai NOX emission 4 Within the 32.24 Thermal Power
Power through factory Plants (GB13223-
912.23 4687 No
General chimney 2011) special
Co. Ltd. emission limit
Guangdo
ng Energy Concentra Emission Standard
Maoming ted of Air Pollutants for
Thermal Smoke emission 2 Within the 1.26 Thermal Power 11.52 168.12 No
Power through factory Plants (GB13223-
Plant Co. chimney 2011) special
Ltd. emission limit
Guangdo
ng Energy Concentra Emission Standard
Maoming ted of Air Pollutants for
Thermal SO Within the Thermal Power2 emission 2 factory 14.9 Plants (GB13223- 145.51 385.51 NoPower through
Plant Co. chimney 2011) special
Ltd. emission limit
Guangdo
ng Energy Concentra Emission Standard
Maoming ted of Air Pollutants for
Thermal NOX emission 2 Within the 24.42 Thermal Power
Power through factory Plants (GB13223-
234.24 689.58 No
Plant Co. chimney 2011) special
Ltd. emission limit
Guangdo
ng Concentra
Emission Standard
ted of Air Pollutants forHuizhou
Natural Smoke emission 6
Within the
factory 0.19
Thermal Power
through Plants (GB13223-
3.33 232.11 No
Gas chimney 2011) specialPower emission limit
26Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Generatio
n Co. Ltd
Guangdo
ng Concentra Emission StandardHuizhou ted of Air Pollutants forNatural NO emission 6 Within the Thermal PowerGas X factory 27.04 Plants (GB13223- 429.50 2033.1 No
Power throughchimney 2011) specialGeneratio emission limit
n Co. Ltd
Guangdo
ng Concentra Emission StandardShaoguan ted of Air Pollutants forYuejiang Within the
Power Smoke emission 2 factory 1.57
Thermal Power
Plants (GB13223- 14.26 717.78 No
Generatio throughchimney 2011) specialn Co. emission limit
Ltd.Guangdo
ng
Shaoguan Concentra
Emission Standard
ted of Air Pollutants forYuejiang
Power SO2 emission 2
Within the Thermal Power
through factory
18.16 Plants (GB13223- 165.15 2303.55 No
Generatio chimney 2011) specialn Co. emission limit
Ltd.Guangdo
ng
Shaoguan Concentra
Emission Standard
of Air Pollutants for
Yuejiang ted
Power NOX emission 2
Within the
factory 36.74
Thermal Power
Plants (GB13223- 333.99 2809.07 No
Generatio throughchimney 2011) specialn Co. emission limit
Ltd.Guangdo
ng
Yudean Concentra
Emission Standard
ted of Air Pollutants forYunhe Smoke emission 1 Within thePower factory 1.6
Thermal Power
Plants (GB13223- 6.65 6.65 No
Generatio through
n Co. chimney
2011) special
emission limit
Ltd.Guangdo
ng Emission Standard
Yudean Concentra of Air Pollutants for
Yunhe ted
Power SO2 emission 1
Within the
factory 6.89
Thermal Power
through Plants (GB13223-
29.04 29.04 No
Generatio chimney 2011) specialn Co. emission limit
Ltd.Guangdo
ng
Yudean Concentra
Emission Standard
of Air Pollutants for
Yunhe ted
Power NOX emission 1
Within the
factory 34.83
Thermal Power
Plants (GB13223- 140.27 140.27 No
Generatio throughchimney 2011) specialn Co. emission limit
Ltd.Emission Standard
Zhanjiang Concentrated of Air Pollutants forElectric Smoke emission 2 Within the Thermal PowerPower factory 1 Plants (GB13223- 17 17 No
Co. Ltd. throughchimney 2011) specialemission limit
Zhanjiang Concentra Emission Standard
Electric SO ted 2 Within the2 factory 15 of Air Pollutants for 187 187 NoPower emission Thermal Power
27Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Co. Ltd. through Plants (GB13223-
chimney 2011) special
emission limit
Zhanjiang Concentra
Emission Standard
Electric ted
of Air Pollutants for
NO emission 2 Within the 36 Thermal PowerPower X factory Plants (GB13223- 441 441 No
Co. Ltd. throughchimney 2011) specialemission limit
Emission Standard
Zhanjiang Concentra of Air Pollutants for
Zhongyue ted Within the Thermal Power
Energy Smoke emission 2 0.95 7.42 480 No
Co. Ltd. through
factory Plants (GB13223-
chimney 2011) specialemission limit
Emission Standard
Zhanjiang Concentra of Air Pollutants for
Zhongyue tedSO Within the Thermal PowerEnergy 2 emission 2through factory
13.33 Plants (GB13223- 104.17 1200 No
Co. Ltd. chimney 2011) specialemission limit
Emission Standard
Zhanjiang Concentra
Zhongyue ted
of Air Pollutants for
NO emission 2 Within the Thermal PowerEnergy X through factory
25.54 Plants (GB13223- 199.6 1078 No
Co. Ltd. chimney 2011) specialemission limit
Shenzhen Concentra Emission Standard
Guangqia ted of Air Pollutants for
n Electric NO emission 3 Within the 10.97 Thermal PowerX
Power through factory Plants (GB13223-
77.69 1312.5 No
Co. Ltd. chimney 2011) specialemission limit
Guangdo
ng Concentra Emission Standard
Huizhou ted of Air Pollutants for
Pinghai Smoke emission 2 Within the 3.26 Thermal Power
Power through factory Plants (GB13223-
52.39 700 No
Plant Co. chimney 2011) special
Ltd. emission limit
Guangdo
ng Concentra Emission Standard
Huizhou ted of Air Pollutants for
Pinghai SO emission 2 Within the 22.31 Thermal Power2 factory Plants (GB13223- 353.81 1670 NoPower through
Plant Co. chimney 2011) special
Ltd. emission limit
Guangdo
ng Concentra Emission Standard
Huizhou ted of Air Pollutants for
Pinghai NO emission 2 Within the 38 Thermal PowerX 591.84 2423 No
Power through factory Plants (GB13223-
Plant Co. chimney 2011) special
Ltd. emission limit
Guangdo
ng Concentra Emission Standard
Yuehua ted of Air Pollutants for
Power SO emission 2 Within the 0.101 Thermal Power2
Generatio through factory Plants (GB13223-
0.664 27.54 No
n Co. chimney 2011) special
Ltd. emission limit
Guangdo
ng Concentra
Emission Standard
of Air Pollutants for
Yuehua ted
Power NOX emission 2
Within the 38.97 Thermal Powerfactory Plants (GB13223- 254.75 1367.55 No
Generatio through
n Co. chimney
2011) special
emission limit
28Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Ltd.Guangdo
ng Guangdong Emission StandardYudean Huizhou of Air Pollutants forXinhui
Power Pinghai Smoke 2
Within the Thermal Power
Power factory
0.057 Plants (GB13223- 0.23 0.23 No
Generatio Plant Co. 2011) specialn Co. Ltd. emission limitLtd.Guangdo
ng Guangdo Emission Standard
Yudean ngHuizhou of Air Pollutants forXinhui Within the Thermal Power
Power Pinghai SO2 2 0.213 0.87 0.87 No
Generatio Power
factory Plants (GB13223-
Plant Co. 2011) specialn Co. Ltd. emission limitLtd.Guangdo
ng Guangdong Emission StandardYudean Huizhou of Air Pollutants forXinhui Pinghai NO 2 Within thePower X factory 36.02
Thermal Power
Power Plants (GB13223-
147.73 147.73 No
Generatio Plant Co. 2011) specialn Co. Ltd. emission limitLtd.Tumushu Concentra Emission Standard
ke ted of Air Pollutants for
Thermo Smoke emission 1 Within the 2.04 Thermal Power 12.13 135 No
electric through factory Plants (GB13223-
Co. Ltd. chimney 2011) specialemission limit
Tumushu Concentra Emission Standard
ke ted of Air Pollutants for
Thermo SO2 emission 1 Within thefactory 14.35
Thermal Power
electric through Plants (GB13223-
88.81 474 No
Co. Ltd chimney 2011) specialemission limit
Tumushu Concentra Emission Standard
ke ted of Air Pollutants for
Thermo NOX emission 1 Within thefactory 27.61
Thermal Power 165 675 No
electric through Plants (GB13223-
Co. Ltd chimney 2011) specialemission limit
Concentra Emission Standard
ted of Air Pollutants for
Shajia C Smoke emission 3 Within the 2.17 Thermal Powerfactory Plants (GB13223- 26.3 277.8 Nothrough
chimney 2011) specialemission limit
Concentra Emission Standard
Shajiao C ted of Air Pollutants for
power SO2 emission 3 Within the 11.7 Thermal Powerfactory Plants (GB13223- 141.89 972.3 Noplant through
chimney 2011) specialemission limit
Concentra Emission Standard
Shajiao C ted of Air Pollutants for
power NO emission 3 Within the 30.2 Thermal PowerX factory Plants (GB13223- 366.03 1389 Noplant through
chimney 2011) specialemission limit
Huadu Concentra Emission Standard
Thermoel ted of Air Pollutants for
ectric Smoke emission 3
Within the
factory 2.6 Thermal Power 1.8
Not No
Company through Plants (GB13223-
approved
chimney 2011) special
29Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
emission limit
Huadu Concentra
Emission Standard
Thermoel ted
of Air Pollutants for
SO emission 3 Within the Thermal Powerectric 2 18.5through factory Plants (GB13223-
12.6 13.4 No
Company chimney 2011) specialemission limit
Concentra Emission StandardHuadu ted of Air Pollutants forThermoel NO emission 3 Within the Thermal Powerectric X through factory
29.2 Plants (GB13223- 19.2 1173.2 No
Company chimney 2011) specialemission limit
Prevention and control of pollution facilities construction and operation
In the first half of 2022 the Company took the great development of new energy and energy saving and
carbon reduction as an important step to accelerate the construction of ecological civilization and pollution
prevention and control and constantly improved the energy security and clean and low-carbon level. All
emission indicators were better than the industry average. The Company adhered to the goal of building a
resource-saving and environment-friendly enterprise and actively promoted the upgrading and transformation
of existing coal-fired generating units in a planned and step-by-step manner by formulating and implementing
various measures such as energy consumption management improvement operation optimization equipment
management overhaul and technical transformation and strove to reduce the emission intensity of coal-fired
generating units.Conditions of environmental impact assessment and other environmental protection administrative licensing of
construction projects
The company's construction projects that have been approved by government agencies have all undergone
environmental impact assessments and have obtained other necessary environmental protection administrative
Emergency plan for emergency environmental incidents
Combining with the Environmental Protection Law of the People's Republic of China and the Opinions of the
Ministry of Environmental Protection on Strengthening Environmental Emergency Management Work and
other laws and regulations on the monitoring of environmental risks the company’s subordinate power
generation enterprises have formulated the Emergency Plan for Emergency Environmental Incidents according
to their actual conditions which has standardized and improved the handling of emergent environmental events
from the aspects of environmental accident risk analysis emergency command organization and responsibilities
disposal procedures and disposal measures improved the ability to respond to unexpected environmental
events and ensured that after an outbreak of an environmental incident the company can organize emergency
rescue 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 public health
and property safety.During the reporting period the affiliated power generation enterprises of the Company disclosed
environmental information and their supervision and management activities in accordance with the
requirements of laws and regulations such as the China's Administrative Measures for Legal Disclosure of
Enterprise Environmental Information (Order No.24 of Ministry of Ecology and Environment) prepared annual
30Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
environmental information disclosure reports and uploaded them to the enterprise environmental information
disclosure system with the publication rate reaching 100%.Administrative penalties for environmental problems during the reporting period
None
Other environmental information that should be disclosed
None
Measures and effects taken to reduce its carbon emissions during the reporting period
√Applicable □Not applicable
In 2022 according to the requirements of the national double-carbon target and energy development plan
the Company actively increased investment in new energy with 14 new energy projects under construction and
a total installed capacity of 2.046 million kilowatts. After all the above-mentioned projects under construction
are completed and put into operation it is estimated that they can contribute about 4.358 billion kilowatts of
clean energy every year saving about 1.3728 million tons of standard coal every year and reducing carbon
dioxide emissions by about 3.6172 million tons equivalent to rebuilding 9144.26 hectares of forest. In the
meantime the Company has made every effort to promote the transformation project of replacing liquid
ammonia with urea in the ammonia station of coal-fired power plants actively participated in the national
carbon market and made overall plans for carbon asset management and performance transactions.Other environmental protection related information
None
The Company shall comply with the disclosure requirements of Shenzhen Stock Exchange Industry Information
Disclosure Guidelines No.15-Listed Companies Engaged in Power-related Business
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 Law of the
People's Republic of China on the Prevention and Control of Water Pollution and the Law of the People's
Republic of China on Prevention and Control of Environmental Pollution by Solid Waste to carry out
production and business activities. In the first half of 2022 the Company's thermal power plant's operating
expenses for implementing environmental protection policies and regulations were mainly due to the purchase
of limestone and denitration materials totaling about RMB 128.31 million.
2. In the first half of 2022 the standard coal consumption of the Company's thermal power plant was
304.86g/kWh the sulfur dioxide emission performance value was 0.045g/kWh the nitrogen oxide emission
performance value was 0.120g/kWh and the soot emission performance value was 0.006g/kWh. Including: the
operation rate of desulfurization device of 100% with an average desulfurization efficiency of 99.25%; the
average operation rate of denitration device of 97.12% with an average denitration efficiency of 89.67%; and
the operation rate of dry dedusting device of 100% with an average dedusting efficiency of 99.81%.II. Social responsibilities
In 2022 the Company continued to implement the spirit of the Opinions of the Central Committee of CCP
and the State Council on Realizing the Limited Connection between Consolidating and Expanding the
31Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Achievements of Poverty Alleviation and Rural Revitalization. According to the decision-making arrangements
and work requirements of the Guangdong Provincial Party Committee and the Provincial Government the
Company actively invested resources in consolidating the achievements of poverty alleviation actively carried
out poverty alleviation by consumption and adopted multiple measures to promote the comprehensive rural
revitalization.
1. Yuejiang Company's assistance counterpart: Ruyuan Dongping Town
In the first half of 2022 Yuejiang Company vigorously promoted consumption assistance strictly adhered
to the bottom line of not returning to poverty on a large scale strengthened the dynamic monitoring of
preventing returning to poverty rationally formulated assistance project plans and effectively connected the
achievements of consolidating poverty alleviation with rural revitalization. The Company's trade unions actively
carried out consumption assistance procurement activities expanded consumption assistance channels
broadened the sales of local agricultural and sideline products and increased farmers' income. Up to now the
total expenses on assistance consolation and other expenses have reached more than RMB 160000 effectively
solving the problem of increasing farmers' income and laying a solid foundation for the industrial revitalization
of Dongping Town.
2. Zhanjiang Electric Power Company's assistance counterpart: Xuwen Xilian Town
Zhanjiang Electric Power Company has resolutely implemented the national rural revitalization strategy
helped the rural revitalization of Xilian Town as always and practiced the due role of a state-owned enterprise.The Company's staff in helping villages in Xilian Town dared to take responsibility planned measures
according to local conditions fully implemented all aspects of rural revitalization and took charge of and
participated in the overall planning of Xilian Town from 2021 to 2026. The work results were selected as
excellent planning by Xuwen County and Zhanjiang Agriculture and Rural Bureau and sent to Guangdong
Province for appraisal.
3. Dabu Power Generation Company's assistance counterpart: Huilai Jinghai Town
In order to well ensure assisting villages and towns Dapu Power Generation Company selected Mr. Guo
Jie the Deputy General Manager of the Company as the first secretary in village and a member of the
assistance work team in town to assist rural revitalization in Jinghai Town Huilai County Jieyang City. On
Guangdong Poverty Alleviation Day in 2022 the Company actively carried out a poverty alleviation activity
and raised a total of RMB 63200 to support rural revitalization.
4. Zhongyue Energy Company's assistance counterpart: Leizhou Jijia Town
In the first half of 2022 Zhanjiang Zhongyue Energy Company's rural revitalization work team stationed
in Leizhou Jijia Town Zhanjiang conducted a special investigation with the theme of rural revitalization
industry assistance mainly focusing on how to integrate land resources and solve existing problems and held
discussions and exchanges with village committee cadres and villagers. It was suggested that according to the
local conditions and on the basis of respecting the popular will the form of land cooperatives should be
established farmers should buy shares in scattered land select accurate and excellent projects and actively
explore the development modes of "land shares+large-scale planting" "decentralized production+unified
management" and "small households supported by large households and scattered households supported by
specialized households" so as to continuously enhance the vitality and strength of collective economic
development.
5. Guangdong New Energy's assistance counterpart: Nanxiong Baishun Town
32Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
In order to actively promote the integration and development of new energy development and rural
revitalization Nanxiong Yuefeng New Energy a subsidiary of provincial wind power company in Shaoguan
City signed a new energy cooperative development framework agreement with Nanxiong People's Government
in June 2022 and assisted local rural revitalization by developing local rooftop photovoltaic ground distributed
photovoltaic and ground distributed wind power projects. Currently the preliminary work for the Pilot Project
of Rural Revitalization Distributed Wind Power in Baishun Town Nanxiong Shaoguan has started.
33Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
VI. Important Events
I. The fulfilled commitments in the reporting period and under-fulfillment commitments by the end of
the 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 acquirers
of the Company
II. Particulars about the non-operating occupation of funds by the controlling shareholder
□ Applicable √ Not applicable
None
III. Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
None
IV. Engagement and disengagement of CPAs firm
Whether the semi-annual financial report has been audited
□ Yes √ No
The semi-annual financial report of the Company has not been audited
V. Notes for “non-standard audit report” of CPAs firm during the Reporting Period by board of
directors and supervisory board
□ Applicable √ Not applicable
VI. Notes for the related information of “non-standard audit reports” last year by board of directors
□ Applicable √ Not applicable
VII. Bankruptcy and restructuring
□ Applicable √ Not applicable
No such cases in the reporting period.
34Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
VIII. Litigations and arbitrations
Significant litigations and arbitrations
□ Applicable √ Not applicable
No such cases in the reporting period.Other lawsuits
□ Applicable √ Not applicable
IX. Punishments and rectifications
□ Applicable √ Not applicable
X. Credit conditions of the Company as well as its controlling shareholder and actual controller
□ Applicable √ Not applicable
XI.Material related transactions
1. Related transactions in connection with daily operation
□ Applicable √ Not applicable
Please refer to "7. Other significant related party transactions" for the related transactions related to the daily
operation of the Company during the reporting period.
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
No such cases in the reporting period.
4. Credits and liabilities with related parties
□Applicable √ Not applicable
No such cases in the reporting period.
5. Transactions with related finance company especially one that is controlled by the Company
√ Applicable □Not applicable
Deposit business
Related party Relationsh Maximum Deposit interest Beginning The amount incurred Ending
35Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
ip daily deposit rate range balance Total deposit Total amount balancelimitd（Ten （Ten amount of withdrawn in （Tenthousand thousand
yuan yuan the current the current
thousand） ） yuan）period（Ten period（Tenthousand thousandyuan） yuan）
Controlled
Guangdong by
Energy Group Guangdon 1100000 0.35% 647482 4385964 4127759 905687
Co. Ltd. g Energy
Group
Loan business
Related party Relationsh Beginning The amount incurred
ip balance
（Ten TotalLoan limit Total loan Endingthousand repayment
（Ten Loant interest yuan amount forbalance
） amount ofthousand rate range the current （Tenthis periodyuan period（Ten thousand） （Tenthousand yuan）
thousandyuan） yuan）
Controlled
Guangdong by
Energy Group Guangdon 3500000 2.70%-4.26% 934417 1058703 990724 1002396
Co. Ltd. g Energy
Group
Credit extension or other financial servicesRelated party Relationship Business Total amount（Ten Actual amount incurredtype thousand yuan） （Ten thousandyuan）
Guangdong Energy Group Controlled by Guangdong
Co. Ltd. Energy Group Credit 3500000 1002396
6. Transactions with related finance company controlled by the Company
□ Applicable √ Not applicable
The company does not have a controlling financial company.
7. Other significant related-party transactions
√ Applicable □Not applicable
（1）2022 daily related transactions were carried out after examination and approval by 2022 first provisional
shareholders' general meeting. Refer to (5) Related transactions of XII. Relationship between related parties and
the transactions between them of the Financial Report of this report for details.
（2）On January 20 2022 the first meeting of the tenth board of directors reviewed and approved the Proposal
on Daily Related Transactions between the Company and Guangdong Energy Group Co. Ltd. in 2021 the
Proposal on Signing the Financial Services Framework Agreement between the Guangdong Yudean Finance Co.Ltd. the Proposal on Signing the Financial Leasing Cooperation Framework Agreement between the Company
and Guangdong Yudean Financial Leasing Co. Ltd. the Proposal on Signing the Framework Agreement on
Cooperation in Insurance and Risk Management Services between the Company and Guangdong Yudean Property
Insurance Self-insurance Co. Ltd. and the above related party transactions will be implemented after being
reviewed and approved by the first provisional general meeting of shareholders in 2022.Website for temporary disclosure of the connected transaction
36Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Announcement Date of disclosure Website for disclosure
Estimates announcement of the Daily Related Party
Transactions of 2022 January 202022 http//www.cninfo.com.cn.Announcement of Related Transactions on Signing of the
Financial Services Framework Agreement Framework
Agreement on Financing Leasing Cooperation and January 202022 http//www.cninfo.com.cn.Framework Agreement on Cooperation in Insurance and Risk
Management Services
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 the
horizontal competition and fulfill the relevant commitment of the horizontal competition the Company signed
Stock Trusteeship Agreement with Guangdong Energy Group wherein the shareholder's rights within the
trusteeship range except the ownership right of earning and right of disposition will be trusted to the Company
which is predicted to charge 245000 yuan as trustee fee per year. See details at the " Related Transaction
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 on January 13
2018(Announcement No.2018-04);
In the first half of 2022 the Company confirmed a custody income of RMB 900000.Gains/losses to the Company from projects that reached over 10% in total profit of the Company in reporting
period
□Applicable √ Not applicable
No gains or losses to the Company from projects that reached over 10% in total profit of the Company in
reporting period
(2) Contract
□ Applicable √ Not applicable
No any contract for the Company in the reporting period.
(3) Lease
√ Applicable □Not applicable
Note:
The Company as the lessee incurred a lease fee of RMB 14137813 this year.Project which generates profit or loss reaching over 10% of total profits of the Company during the Reporting
Period
□ Applicable √ Not applicable
There were no leases with a 10% or greater impact on the Company’s gross profit in the Reporting Period.
37Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
2.Significant Guarantees
√Applicable □ Not applicable
In RMB 10000
Guarantee of the Company for the controlling subsidiaries (Exclude controlled subsidiaries)
Relevant
disclosure Date of Guarantee
Name of the date/No. of Amount of happening Actual
Counter- Complete for
Company the Guarantee (Date of mount of Guarantee type
Guaranty
If any guarantee If
Guarantee
（signing guarantee （ ） any term
implementation associatedguaranteed ） or not parties
amount agreement) (Yes or no)
Yunnan
Baoshan
Binglangjiang
Yunnan Baoshan Hydropower
Binlangjiang Development
Hydroelectricity December 4350 November 580 Guaranteeing of Co. Ltd. 15 years No No
Development Co. 192007 302007 joint liabilities. provides joint
Ltd. and severalliability
guarantee
counter-
guarantee.Yunnan
Baoshan
Binglangjiang
Yunnan Baoshan Hydropower
Binlangjiang Development
Hydroelectricity May 272009 9367 June 222009 3567 Guaranteeing of Co. Ltd.joint liabilities. provides joint 18 years No NoDevelopment Co.Ltd. and severalliability
guarantee
counter-
guarantee.Guangdong
Yudean
Guangdong Yangjiang
Energy Group October 292020 200000 November192020 167285
Guaranteeing of Offshore wind
Co. Ltd. joint liabilities. power Co.
23.9 years No Yes
Ltd. provides
joint and
several liability
38Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
guarantee
counter-
guarantee
Xinjiang Jintai
Electric Power 3775 December Guaranteeing of
Co. Ltd. 112021
0 joint liabilities. 3 years Yes No
Total amount of approved external Total actually amount of
guarantee in the report period(A1) external guarantee in the 1039report period(A2)
Total amount of approved external Total actually amount of
guarantee at the end of the report 425459 external guarantee at the end 171432
period(A3) of the report period(A4)
Guarantee of the company for its subsidiaries
Relevant
disclosure Date of Guarantee
Name of the date/No. of Amount of happening Actual(Date of mount of Guarantee type Guaranty
Counter-
Guarantee Complete forCompany the Guarantee If any guarantee（If term implementation associatedguaranteed signing guarantee（ ） any） or not parties
amount agreement) (Yes or no)
Zhanjiang Wind
Power Generation April 292009 18572 October 92010 5022 Guaranteeing of
Co. Ltd. joint liabilities.
18 years No No
Total of guarantee for subsidiaries Total of actual guarantee for
approved in the period(B1) 0 subsidiaries in the period (B2) -60
Total of guarantee for subsidiaries 141536 Total of actual guarantee forapproved at period-end(B3) subsidiaries at period-end(B4) 5022
Guarantee of the subsidiaries for the controlling subsidiaries
Relevant
disclosure Date of Guarantee
Name of the date/No. of Amount of happening Actual
Counter- Complete for
Company the Guarantee (Date of mount of Guarantee typeGuaranty guarantee If Guarantee（ implementation associatedguaranteed signing guarantee（If any） any term） or not parties
amount agreement) (Yes or no)
The Company’s total guarantee(i.e.total of the first three main items)
Total amount of guarantee
Total guarantee quota approved in the actually incurred in the
reporting period（A1+B1+C1 0 979）
reporting period
（A2+B2+C2）
Total guarantee quota already Total balance of the actual
566995176454
approved at the end of the reporting guarantee at the end of the
39Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
period（A3+B3+C3） reporting period
（A4+B4+C4）
The proportion of the total amount of actually guarantee in the net assetsof the Company (that is A4+B4+C4 % 8.05%）
Including：
Amount of guarantees provided for shareholders the actual controller
and their related parties (D) 167285
Amount of debt guarantees provided directly or indirectly for entities
with a liability-to-asset ratio over 70% (E) 4147
Proportion of total amount of guarantee in net assets of the company
exceed 50% 0（F）
Total amount of the three kinds of guarantees above (D+E+F) 171432
Note: As for the joint liability guarantee of Xinjiang Jintai Electric Power Co. Ltd. undertaken by the Company due to the acquisition of Toumchouq Thermal
Power Company the actual date is the date when Toumchouq Thermal Power Company completes the industrial and commercial change registration.
40Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
3. Finance management on commission
□Applicable √ Not applicable
No such cases in the reporting period.
4.Major contracts for daily operations
□ Applicable √ Not applicable
5. Other significant contract
□ Applicable √ Not applicable
No such cases in the reporting period.XIII. Explanation on other significant events
√ Applicable □Not applicable
Summary of important matters Name Website
Date of disclosure for
disclosure
In order to implement the deployment of aid to Xinjiang deepen Astrnantoeuncement of Resolutions ofMarch 262022 http//ww
gic cooperation with key regions further optimize the power suppthlye sStercond Meeting of the TenthBoard of Directors by w.cninfo.ucture and increase the proportion of clean energy the CompanyC'sobroreaspondence of 2022 com.cn.rd of directors agreed to the Company's wholly-
owned establishment of Tumusuke Yudean Hanhai New Energy Co. Ltd (hereinafter referred to as "Hanhai New Energy Company”) to invest
in the construction of a 400000-
kilowatt photovoltaic power generation project in the 45th Regiment of
the Third Division of the Xinjiang Production and Construction Corps.The total investment of the project is 2226851400 yuan and the capi
tal is set at 445370000 yuan according to 20% of the total project inve
stment which will be solved by the Company's capital increase to Han
hai New Energy Company in batches.In order to meet the heat load demand of Yunfu Industrial Announcement of Resolutions ofApril 222022 http//ww
Park and peripheral enterprises further optimize the Company's the Sixth Meeting of the Tenth w.cninfo.power supply structure and promote the Company's sustainable Board of Directors com.cn.development the board of directors agrees to invest in the
construction of Yunhe Power Generation Company Natural Gas
Cogeneration Project (2×460MW) and Guangdong
YudeanYunhe Co. Ltd. is responsible for the specific
construction and operation of the project. The total investment
of the project is 2809.70 million yuan (including the heating
network project) and the project capital is calculated as 561.94
million yuan according to 20% of the total project investment.The Company invests 505.75 million yuan according to the
proportion of 90% equity ratio. The capital required for the
41Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
project will be solved by the Company's capital increase to
Yunhe Power Generation Company in batches according to the
actual construction progress and capital needs of the project.In order to meet the electricity load growth in Jieyang City Announcement of Resolutions ofApril 22 http//ww
and the heat load demand of Dananhai Petrochemical Industrial the Sixth Meeting of the Tenth w.cninfo.Zone and further increase the proportion of clean energy of the Board of Directors com.cn.Company the board of directors agrees to invest in the
construction of the Jieyang Dananhai Natural Gas Cogeneration
Project (2×480MW) and Guangdong Yudean Dananhai Smart
Energy Co. Ltd.-a wholly-owned subsidiary-is responsible for
the specific construction and operation of the project. The total
investment of the project is 2855.45 million yuan (including the
heating network project) and the project capital is calculated as
571.09 million yuan according to 20% of the total project
investment. The capital required by the project will be solved by
the Company's capital increase to Dananhai Smart Energy
Company in batches according to the actual construction
progress and capital needs of the project.XIV. Significant event of subsidiary of the Company
□ Applicable √ Not applicable
42Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
VII. Change of share capital and shareholding of Principal Shareholders
I. Changes in share capital
1. Changes in share capital
In shares
Before the change Increase/decrease（+，-） After the ChangeAmount Proporti Capitali
on
Share Bon
zation
allot us
of
commo Other Subtot Quantity Proportio
ment shar n al nes reserve
fund
I. Share with
conditional 1897966117 36.15% -2830 1897963287 36.15%
subscription
1. State-owned
shares
2. State-owned legal
person shares 1893342621 36.06% 1893342621 36.06%
3.Other domestic
shares 4623496 0.09% -2830 4620666 0.09%
Of which：Domestic
legal person shares 4620666 0.09% 4620666 0.09%
Domestic natural
person shares 2830 0% -2830 0 0%
4.Foreign shares
Of which：Foreign
legal person shares
Foreign natural person
shares
II. Shares with
unconditional 3352317869 63.85% 2830 3352320699 63.85%
subscription
1.Common shares in
RMB 2553909869 48.64% 2830 2553912699 48.64%
2.Foreign shares in
domestic market 798408000 15.21% 798408000 15.21%
3.Foreign shares in
foreign market
4.Other
III. Total of capital
shares 5250283986 100% 5250283986 100%
Reasons for share changed
√ Applicable □ Not applicable
On February 2 2022 the lock-up period of the 2830 restricted shares held by Mr.Wen Lianhe aformer
director of the company has expired it has been converted into tradable shares whthout restiiction .therefore
the number of restricted shares of the company has also increased accordingly.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
43Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable
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 security
regulators
□ Applicable √Not applicable
2. Change of shares with limited sales condition
√ Applicable □ Not applicable
In RMB
Number of Number of Number of
restricted restricted
Number of restricted Reasons for
Shareholder shares in restricted shares at the sales Release date ofshares at the
beginning increased this
shares released
in this period end of the restriction
sales restriction
period period
Wen Lianhe 2830 2830 0 0 Directorchange February 22022
Total 2830 2830 0 0 -- --
II. Securities issue and listing
□ Applicable √Not applicable
III. Shareholders and actual controlling shareholder
1. Number of shareholders and shareholding
In Shares
Total number of common Total number of preferred
shareholders at the end of the 94373 shareholders that had restored the voting right at the end of the 0
reporting period reporting period (if any) (note 8)
Particulars about shares held above 5% by shareholders or top ten shareholders
Number of
Proporti share
Nature of on of Number of Changes in Amount of Amount of un- pledged/froze
Shareholders sharehold shares shares held at reporting restricted restricted n
er held period -end period shares held shares held State
（%） of Amo
share unt
Guangdong State-
Energy Group ownedlegal 67.39% 3538005285 0 1893342621 1644662664Co. Ltd. person
Guangzhou State-
Development ownedlegal 2.22% 116693602 0 0 116693602Group Co. Ltd. person
Guangdong State-
Electric Power owned
Development legal 1.80% 94367341 0 0 94367341
Corporation person
ICBC－First
Seafront fund
New Economy
flexible allocation Other 0.82% 43245455 -1472463 0 43245455
of hybrid
securities
investment fund
44Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
The National
Social Security
Fund 102 Other 0.70% 36986590 32098900 0 36986590
portfolio
Domestic
Zheng Jianxiang Natural 0.49% 25514900 0 0 25514900
person
Ningbo Bank－
Boshi Growth
advantage hybrid Other 0.36% 18915500 0 0 18915500
securities
investment fund
State-
China Securities owned
Finance Co. Ltd. legal 0.35% 18246045 -33781100 0 18246045
person
VANGUARD
TOTAL Overseas
INTERNATIONA Legal 0.30% 15855512 0 0 15855512
L STOCK INDEX person
FUND
CHINA
INTERNATIONA
L CAPITAL Overseas
CORPORATION Legal 0.29% 15216066 0 0 15216066
HONG KONG person
SECURITIES
LTD
Strategy investors or general legal person
becomes top 10 shareholders due to rights Not applicable
issued (if applicable)（See Notes 3）
The Third largest shareholder Guangdong Electric Power Development
Explanation on associated relationship Corporation is the wholly-owned subsidiaries of the largest shareholder Energy
among the aforesaid shareholders Group. These two 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 rights Not applicable
Top 10 shareholders including the special
account for repurchase (if any) (see note Not applicable
10)
Shareholding of top 10 shareholders of unrestricted shares
Quantity of unrestricted Share type
Name of the shareholder shares held at the end of
the reporting period Share type Quantity
Guangdong Energy Group Co. Ltd. 1644662664 RMB Commonshares 1644662664
Guangzhou Development Group Co. Ltd. 116693602 RMB Commonshares 116693602
Guangdong Electric Power Development Corporation 94367341 RMB Commonshares 94367341
ICBC－First Seafront fund New Economy flexible allocation RMB Common
of hybrid securities investment fund 43245455 shares 43245455
The National Social Security Fund 102 portfolio 36986590 RMB Commonshares 36986590
Foreign shares
Zheng Jianxiang 25514900 placed indomestic 25514900
exchange
Ningbo Bank－Boshi Growth advantage hybrid securities RMB Common
investment fund 18915500 shares 18915500
China Securities Finance Co. Ltd. 18246045 RMB Commonshares 18246045
Foreign shares
VANGUARD TOTAL INTERNATIONAL STOCK INDEX 15855512 placed inFUND domestic 15855512
exchange
45Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Foreign shares
CHINA INTERNATIONAL CAPITAL CORPORATION placed in
HONG KONG SECURITIES LTD 15216066 domestic 15216066
exchange
Explanation on associated relationship or consistent action The Third largest shareholder Guangdong Electric Power
among the top 10 shareholders of non-restricted negotiable Development Corporation is the wholly-owned subsidiaries of
shares and that between the top 10 shareholders of non- the largest shareholder Energy Group. These two companies have
restricted negotiable shares and top 10 shareholders relationships; whether the other shareholders have relationshipsor unanimous acting was unknown.Explanation on shareholders participating in the margin
trading business(if any )(See Notes 4) 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 Company
have no buy –back agreement dealing in reporting period.IV. Changes in shareholdings of directors supervisors and executive officers
□ Applicable √Not applicable
There was no change in shareholding of directors supervisors and senior management staffs for the specific
information please refer to the 2021 Annual Report
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.
46Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
VIII. Situation of the Preferred Shares
□Applicable √Not applicable
The Company had no preferred shares in the reporting period
47Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
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
Bond balance
Bond name Bond shortname Bond code Issue day Value date Due day (Ten thousand
Interest Servicing way Trading
yuan ) rate
Using simple interest rate
Public Issuance of on a yearly basis
Corporate Bonds to regardless of compound
Qualified Investors in interest. Due payments
2020 (Phase I) of 20 Yudean 01 149113.SZ April 292020 April 292020 April 292025 1500000000 2.45% once a year maturing debt Shenzhen Stock
Guandong Electric Power at a time. In the final Exchange
Development Co.Ltd. phase interest is paid
together with the principal
redemption.Using simple interest rate
Public Issuance of on a yearly basis
Corporate Bonds to regardless of compound
Qualified Investors in interest. Due payments
2021 (Phase I) of 21 Yudean 01 149369.SZ January 272021 January 272021 January 272024 1000000000 3.57% once a year maturing debt Shenzhen Stock
Guandong Electric Power at a time. In the final Exchange
Development Co.Ltd. phase interest is paid
together with the principal
redemption.
48Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Public Issuance of
Corporate Bonds to
Qualified Investors in In the final phase interests
2021 (Phase II) of 21Yudean02 149418.SZ April 282021 April 282021 April 282026 1500000000 3.50% are paid together with the
Shenzhen Stock
Guandong Electric Power principal redemption. Exchange
Development Co.Ltd.Public Issuance of
Corporate Bonds to
Professional Investors in In the final phase interests
2021 (Phase I) of 21Yedean 03 149711.SZ November 242021 November 242021 November 242026 800000000 3.41% are paid together with the
Shenzhen Stock
Exchange
Guandong Electric Power principal redemption.Development Co.Ltd.Using simple interest rate
Public Issuance of on a yearly basis
Corporate Bonds to regardless of compound
Professional Investors in interest. Due payments
2021 (Phase I) of 21Pinghai 01 188197.SH June 42021 June 42021 June 42023 200000000 3.57% once a year maturing debt Shanghai Stock
Guandong Huizhou Ping at a time. In the final exchange
Power Generation phase interest is paid
Co.Ltd. together with the principal
redemption.During the reporting period interest payment situation 20 Yudean 01 21 Yudean 01 and 21 Yudean 02 are bonds for qualified investors 21 Yudean 03 and 21 Pinghai 01 are bonds for
of the company bonds（If any） professional investors.Applicable trading mechanism Bidding quotation inquiry and agreement transaction.Whether there are risks and countermeasures for terminating listing transactions No（If any)Overdue and unpaid bonds
□ Applicable √ Not applicable
49Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
2. Trigger and implementation of option clauses and investor protection clauses of the issuer or investor
√ Applicable □ Not applicable
21Yudean03 is attached with the "Commitment of the Issuer on Debt Repayment Guarantee Measures".
According to the agreement the net cash flow from operating activities generated every six months during the
duration of the bonds of the current period according to the Issuer's consolidated financial statements shall not
be less than RMB 200 million or the cash flow ratio from operating activities (net cash flow from operating
activities/interest-bearing liabilities) shall not be less than 0.5%. The Issuer regularly tracks and monitors the
stability of the sources of debt repayment funds every six months. If the source of debt repayment funds is
lower than that in the commitment requirements the Issuer will take timely measures such as realizing assets
collecting overdue receivables and improving business performance and ensure that the relevant indicators of
debt repayment funds in the next monitoring period meet the commitment requirements. If the Issuer fails to
meet the commitment requirements during two consecutive monitoring periods the Issuer shall collect funds in
advance before the latest interest payment or redemption date. The Issuer shall collect 20% of the debt
repayment funds within 1 month before the latest interest payment or redemption date and collect 50% of the
debt repayment funds within 5 trading days before the latest interest payment or redemption date.At the expiration of the first half year of the existence period of 21Yudean03 the net cash flow from
operating activities of the Company was RMB -208 million and the cash flow ratio from operating activities
was -0.32%. The Company will take timely measures to improve its business performance and strive for the
relevant indicators of the source of debt repayment funds in the next monitoring period to meet the commitment
requirements. Up to now the Company has not triggered the need to collect debt repayment funds in advance.
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 repayment guarantee
measures during the reporting period and their impact on the rights and interests of bond investors
√ Applicable □ Not applicable
(1). Credit enhancement mechanism: 20 Yudean 01 21 Yudean 01 21 Yudean 02 21 Yudean 03 and 21 Pinghai
Company 01 bonds are not guaranteed.
(2). Debt repayment plan and other debt repayment guarantee measures: 20 Yudean 01 21 Yudean 01 21 Yudean
02 21 Yudean 03 and 21 Pinghai 01 debt repayment plans and other debt repayment guarantee measures have not
changed during the reporting period and the payment of their principal and interest will be handled by the bond
registration institution and relevant institutions. The specific matters of payment will be elaborated in the
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 in accordance
with relevant regulations.
50Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
III. Debt financing instruments of non-financial enterprises
√ Applicable □ Not applicable
1. Debt financing instruments of non-financial enterprises
In RMB
Bond name Bond shortname Bond code Issue day Value date Due day Bond balance
Interest
rate Servicing way Trading
Using simple
interest rate on a
yearly basis
2021 MTN regardless of
(Phase I) of compound interest.Guangdong 21Yudean Due payments once102101339.IB July 192021 July 212021 July 212024 1200000000 3.17% a year maturing InterbankElectric Power Fa MTN001 debt at a time. In marketDevelopment
Co. Ltd. the final phaseinterest is paid
together with the
principal
redemption.Using simple
interest rate on a
yearly basis
2021 MTN regardless of
(Phase II) of compound interest.Guangdong 21Yudean Due payments once
Electric Power Fa MTN002 102102318.IB November 152021 November 172021 November 172024 2200000000 3.13% a year maturing
Interbank
Development debt at a time. In
market
Co. Ltd. the final phaseinterest is paid
together with the
principal
redemption.Guangdong
Electric Power
Development One time
Co. Ltd. Co. 22Yudean
Ltd.2022 first Fa SCP001 012280516.IB February 142022 February 152022 August 122022 1200000000 2.01%
repayment of Interbank
principal and market
phase Ultra- interest due
short term
financing bills
51Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Guangdong
Electric Power
Development One time
Co. Ltd. Co. 22 Yudean 012282169.IB June 162022 June 202022 November 152022 1500000000 2% repayment of InterbankLtd.2022 FaSCP002 principal and market
Second phase interest due
Ultra-short term
financing bills
MTN (Phase I)
(Sustainable
lingged)of One time
Guangdong 21Pinghai 102102049.IB October 152021 October 152021 October 152024 300000000 3.72% repayment of Interbank
Pinghai Power Fa MTN001 principal and market
Generation interest due
Plant Co. Ltd.Applicable trading mechanism Circulation and transfer in the national inter-bank bond market its listing and circ ulation will be carried out in accordance with therelevant regulations promulgate d by the National Interbank Funding Center
52Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
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 repayment guarantee
measures during the reporting period and their impact on the rights and interests of bond investors
√ Applicable □ Not applicable
1. 21Yudeanfa MTN001 21 21Yudeanfa MTN002 21Yudeanfa SCP002 22Yudeanfa SCP001 and
21Pinghaifadian MTN001 are not guaranteed.
2. The debt repayment plan of the above-mentioned debt financing instruments and other debt repayment
guarantee 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 net
assets 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 the
reporting period
In RMB10000
At the end of the reporting
period At the end of last year
At the same time rate of
change
Current ratio 0.61 0.61 0%
Debt ratio 73.72% 71.34% 2.38%
Quick ratio 0.47 0.47 0%
Amount of this period Amount of last period At the same time rate ofchange
Net profit after deducting
non-recurring profit and loss -215681 39148 -650.94%
EBITDA total debt ratio 1.3% 5.39% -4.09%
Time interest earned ratio -1.02 1.67 -161.08%
Cash interest guarantee times 1.43 6.95 -79.42%
EBITDATime interest earned
ratio 1.01 4.25 -76.24%
Repayment of debt (%) 100% 100% 0%
Payment of interest (%) 100% 100% 0%
53Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
X. Financial Report
I. Audit report
Has this semi-annual report been audited?
□ Yes √ No
The semi-annual financial report has not been audited.II. Financial statements
Currency unit for the statements in the notes to these financial statements: RMB
1. Consolidated balance sheet
Prepared by：Guangdong Electric Power Development Co. Ltd.In RMB
Items June 302022 January 12022
Current asset：
Monetary fund 10854693285 8105320953
Settlement provision
Outgoing call loan
Transactional financial assets
Derivative financial assets
Notes receivable 0 165603
Account receivable 7068283704 7030685357
Financing of receivables
Prepayments 1481378318 892771238
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Other account receivable 955052963 2429475558
Including：Interest receivable 2581384 0
Dividend receivable 0 5633417
Repurchasing of financial assets
Inventories 3135765795 2998894539
Contract assets 1044260 4754820
Assets held for sales
Non-current asset due within 1 year
Other current asset 877369564 1417985608
Total of current assets 24373587889 22880053676
Non-current assets：
Loans and payment on other’s behalf
disbursed
Creditor's right investment
Other investment on bonds
Long-term receivable
Long term share equity investment 8426522587 8072208350
Other equity instruments investment 3108938380 3232028682
Other non-current financial assets
Property investment 374128161 378796932
Fixed assets 60916046309 57145099423
54Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Construction in progress 5744786187 8710691765
Production physical assets
Oil & gas assets
Use right assets 5172621990 5256124979
Intangible assets 2718331332 2658726346
Development expenses 0 0
Goodwill 139983037 139983037
Long-germ expenses to be amortized 29323564 30335301
Deferred income tax asset 1483508097 1176841986
Other non-current asset 4985384492 4810251634
Total of non-current assets 93099574136 91611088435
Total of assets 117473162025 114491142111
Current liabilities
Short-term loans 15702140981 12360296429
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 1881546000 1908780000
Account payable 4805853502 6626567064
Advance receipts 0 0
Contract liabilities 17160884 5864811
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 581990907 422013230
Tax payable 190273788 502303075
Other account payable 9953740901 10569763778
Including：Interest payable 0 0
Dividend payable 9771322 9771322
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1 year 3421306639 3697619753
Other current liability 3360484485 1658449006
Total of current liability 39914498087 37751657146
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 31647408640 28940577856
Bond payable 8694513314 8693083422
Including：preferred stock 0 0
Sustainable debt 0 0
Lease liability 5038032075 4728167142
Long-term payable 124372257 121779223
Long-term remuneration payable to staff 381795957 415480262
Expected liabilities
Deferred income 157765939 163611515
Deferred income tax liability 597076519 635754761
Other non-current liabilities 50985667 75469729
Total non-current liabilities 46691950368 43773923910
Total of liability 86606448455 81525581056
Owners’ equity
Share capital 5250283986 5250283986
Other equity instruments
Including：preferred stock
55Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Sustainable debt
Capital reserves 4272909979 4295429055
Less：Shares in stock
Other comprehensive income 1656193845 1750011571
Special reserve
Surplus reserves 8903515135 8903515135
Common risk provision
Retained profit 1827741909 3203481074
Total of owner’s equity belong to the
parent company 21910644854 23402720821
Minority shareholders’ equity 8956068716 9562840234
Total of owners’ equity 30866713570 32965561055
Total of liabilities and owners’ equity 117473162025 114491142111
Legal representative ：Wang Jin
Person-in-charge of the accounting work：Liu Wei
Person-in -charge of the accounting organ：Meng Fei
2.Parent Company Balance Sheet
In RMB
Items June 302022 January 12022
Current asset：
Monetary fund 1651534569 708028634
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 146436654 192707778
Financing of receivables
Prepayments 26893925 26368250
Other account receivable 321165984 415990566
Including：Interest receivable 859926 887856
Dividend receivable
Inventories 145544894 216808997
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset 12702412 21453621
Total of current assets 2304278438 1581357846
Non-current assets：
Debt investment
Other investment on bonds
Long-term receivable 677000000 627000000
Long term share equity investment 37339653831 36539978077
Other equity instruments investment 3108138380 3231228683
Other non-current financial assets
Property investment 5436448 5754247
Fixed assets 386257719 436327041
Construction in progress 2163857 1201126
Production physical assets
Oil & gas assets
Use right assets 6094058 8125410
Intangible assets 78289281 80670784
Development expenses
Goodwill
56Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Long-germ expenses to be amortized 686114 0
Deferred income tax asset 0 0
Other non-current asset 136500000 136500000
Total of non-current assets 41740219688 41066785368
Total of assets 44044498126 42648143214
Current liabilities
Short-term loans 2482315472 2442508111
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 95082678 214080378
Advance receipts
Contract Liabilities 11315924 1083950
Employees’ wage payable 120027300 105045040
Tax payable 410739 8288884
Other account payable 2269794500 2535329957
Including：Interest payable
Dividend payable
Liabilities held for sales
Non-current liability due within 1 year 129038626 125174953
Other current liability 2726736951 1030040123
Total of current liability 7834722190 6461551396
Non-current liabilities：
Long-term loan
Bond payable 8195204720 8193949060
Including：preferred stock
Sustainable debt
Lease liability 2403629 4251838
Long-term payable
Long-term remuneration payable to staff 63599445 68648773
Expected liabilities
Deferred income 19992404 19992404
Deferred income tax liability 530839778 562112354
Other non-current liabilities
Total non-current liabilities 8812039976 8848954429
Total of liability 16646762166 15310505825
Owners’ equity
Share capital 5250283986 5250283986
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 4834039575 4834039575
Less：Shares in stock
Other comprehensive income 1670603582 1764421309
Special reserve
Surplus reserves 8903515135 8903515135
Retained profit 6739293682 6585377384
Total of owners’ equity 27397735960 27337637389
Total of liabilities and owners’ equity 44044498126 42648143214
3.Consolidated Income statement
In RMB
Items The first half year of 2022 The first half year of 2021
I. Income from the key business 22611239733 20594038804
57Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Incl：Business income 22611239733 20594038804
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 25527998725 20546194534
Incl：Business cost 23114184606 19228178330
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 72015381 125033155
Sales expense 30460050 35594988
Administrative expense 477955874 413435343
R & D costs 752324970 119749812
Financial expenses 1081057844 624202906
Including：Interest expense 1140777896 693307586
Interest income 66359894 69736114
Add: Other income 35193072 23426921
Investment gain（“-”for loss） 589691504 458465127
Incl: investment gains from affiliates 498927895 429715965
Financial assets measured at amortized cost cease to be
recognized as income
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
Credit impairment loss 1728699 -417309
Impairment loss of assets
Assets disposal income 31707133 117901195
III. Operational profit（“-”for loss） -2258438584 647220204
Add：Non-operational income 8866265 16517954
Less: Non-operating expense 19957360 15237962
IV. Total profit(“-”for loss) -2269529679 648500196
Less：Income tax expenses -146480556 160600093
V. Net profit -2123049123 487900103
(I) Classification by business continuity
1.Net continuing operating profit -2123049123 487900103
2.Termination of operating net profit 0 0
(II) Classification by ownership
1.Net profit attributable to the owners of parent company -1375739165 326629275
2.Minority shareholders’ equity -747309958 161270828
VI. Net after-tax of other comprehensive income -93817727 84349552
Net of profit of other comprehensive income attributable to owners -93817727 84349552
of the parent company.（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting period -93817727 84349552
1.Re-
measurement of defined benefit plans of changes in net debt or net
assets
2.Other comprehensive income under the equity method investee c
an not be reclassified into profit or loss.
3. Changes in the fair value of investments in other equity
instruments -93817727 84349552
4. Changes in the fair value of the company’s credit risks
5.Other
58Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022（II）
Other comprehensive income that will be reclassified into profit or
loss.
1.Other comprehensive income under the equity method investee c
an be reclassified into profit or loss.
2. Changes in the fair value of investments in other debt
obligations
3. Other comprehensive income arising from the reclassification of
financial assets
4.Allowance for credit impairments in investments in other debt
obligations
5. Reserve for cash flow hedges
6.Translation differences in currency financial statements
7.Other
Net of profit of other comprehensive income attributable to Minori
ty shareholders’ equity
VII. Total comprehensive income -2216866850 572249655
Total comprehensive income attributable to the owner of the parent
company -1469556892 410978827
Total comprehensive income attributable minority shareholders -747309958 161270828
VIII. Earnings per share
（I）Basic earnings per share -0.2620 0.0622
(II)Diluted earnings per share -0.2620 0.0622
The current business combination under common control the net profits of the combined party before achieved
net profit of RMB 0.00 last period the combined party realized RMB0.00.Legal representative ：Wang Jin
Person-in-charge of the accounting work：Liu Wei
Person-in -charge of the accounting organ：Meng Fei
4. Income statement of the Parent Company
In RMB
Items The first half year of 2022 The first half year of 2021
I. Income from the key business 549224797 665551244
Incl：Business cost 798118470 705513618
Business tax and surcharge 1314970 3788180
Sales expense 1181738 1107630
Administrative expense 54984849 46656602
R & D expense 13572929 0
Financial expenses 180748898 123235844
Including：Interest expenses 182898115 123796443
Interest income 3986671 2267082
Add：Other income 496298 61144
Investment gain（“-”for loss） 652477745 2007008902
Including: investment gains from
affiliates 450257095 392738688
Financial assets measured at amortized
cost cease to be recognized as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss -59342 -1866
Impairment loss of assets
Assets disposal income
II. Operational profit（“-”for loss） 152217644 1792317550
Add：Non-operational income 1763961 1034325
Less：Non -operational expenses 65307 624872
59Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
III. Total profit(“-”for loss) 153916298 1792727003
Less：Income tax expenses 0 0
IV. Net profit 153916298 1792727003
1.Net continuing operating profit 153916298 1792727003
2.Termination of operating net profit
V. Net after-tax of other comprehensive
income -93817727 84349552
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent accounting -93817727 84349552
period
1.Re-
measurement of defined benefit plans of
changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be reclas
sified into profit or loss.
3. Changes in the fair value of
investments in other equity instruments -93817727 84349552
4. Changes in the fair value of the
company’s credit risks
5.Other
(II)Other comprehensive income that wil
l be reclassified into profit or loss
1.Other comprehensive income under the
equity method investee can be reclassifi
ed into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3. Other comprehensive income arising
from the reclassification of financial
assets
4.Allowance for credit impairments in
investments in other debt obligations
5. Reserve for cash flow hedges
6.Translation differences in currency fina
ncial statements
7.Other
VI. Total comprehensive income 60098571 1877076555
VII. Earnings per share
（I）Basic earnings per share 0.0293 0.3415
(II)Diluted earnings per share 0.0293 0.3415
60Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
5. Consolidated Cash flow statement
In RMB
Items The first half year of 2022 The first half year of 2021
I.Cash flows from operating activities
Cash received from sales of goods or
rending of services 25418678331 24080579726
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
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 1779253397 19925513
Other cash received from business
operation 264049592 180056035
Sub-total of cash inflow 27461981320 24280561274
Cash paid for purchasing of merchandise
and services 25271904394 18008458333
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
Net increase for Outgoing call loan
Cash paid for interest processing fee
and commission
Cash paid to staffs or paid for staffs 1089329670 1019053606
Taxes paid 692608470 990676735
Other cash paid for business activities 616497296 475525784
Sub-total of cash outflow from business
activities 27670339830 20493714458
Net cash generated from /used in
operating activities -208358510 3786846816
II. Cash flow generated by investing
Cash received from investment retrieving 623034
Cash received as investment gains 240403213 227688525
Net cash retrieved from disposal of fixed
assets intangible assets and other long- 1643618096 123146842
term assets
Net cash received from disposal of
subsidiaries or other operational units -7173212
Other investment-related cash received 300000 0
Sub-total of cash inflow due to
investment activities 1884944343 343662155
Cash paid for construction of fixed
assets intangible assets and other 4446188809 4148574448
long-term assets
Cash paid as investment 346822910 338850126
Net increase of loan against pledge
61Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Net cash received from subsidiaries and
other operational units 103159958
Other cash paid for investment activities 0
Sub-total of cash outflow due to
investment activities 4793011719 4590584532
Net cash flow generated by investment -2908067376 -4246922377
III.Cash flow generated by financing
Cash received as investment 133484514 126187000
Including: Cash received as investment
from minor shareholders 133484514 126187000
Cash received as loans 18884583500 15122805723
Other financing –related cash received
Sub-total of cash inflow from financing
activities 19018068014 15248992723
Cash to repay debts 12110573262 12657634723
Cash paid as dividend profit or interests 1025673784 1970950322
Including: Dividend and profit paid by
subsidiaries to minor shareholders 25174599 606874009
Other cash paid for financing activities 20793683 42044371
Sub-total of cash outflow due to
financing activities 13157040729 14670629416
Net cash flow generated by financing 5861027285 578363307
IV. Influence of exchange rate alternation
on cash and cash equivalents 485 -122
V.Net increase of cash and cash
equivalents 2744601884 118287624
Add: balance of cash and cash
equivalents at the beginning of term 8023116939 9405082609
VI ..Balance of cash and cash
equivalents at the end of term 10767718823 9523370233
6. Cash Flow Statement of the Parent Company
In RMB
Items The first half year of 2022 The first half year of 2021
I.Cash flows from operating activities
Cash received from sales of goods or
rending of services 664254583 783452071
Tax returned 25152420 63577
Other cash received from business
operation 566054241 20188753
Sub-total of cash inflow 1255461244 803704401
Cash paid for purchasing of merchandise
and services 799187397 581204165
Cash paid to staffs or paid for staffs 133850000 133944525
Taxes paid 8275389 26292457
Other cash paid for business activities 318144283 22417628
Sub-total of cash outflow from business
activities 1259457069 763858775
Net cash generated from /used in
operating activities -3995825 39845626
II. Cash flow generated by investing
Cash received from investment retrieving
Cash received as investment gains 301487457 1767052502
Net cash retrieved from disposal of fixed
assets intangible assets and other long- 11796295 532467
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 313283752 1767584969
62Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
investment activities
Cash paid for construction of fixed
assets intangible assets and other 3607272 11365569
long-term assets
Cash paid as investment 925694710 1254689794
Net cash received from subsidiaries and
other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to
investment activities 929301982 1266055363
Net cash flow generated by investment -616018230 501529606
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 3539536458 4399822000
Other financing –related ash received 0 1104829
Sub-total of cash inflow from financing
activities 3539536458 4400926829
Cash to repay debts 1800000000 3900000000
Cash paid as dividend profit or interests 176305840 738484034
Other cash paid for financing activities 6248 2188825
Sub-total of cash outflow due to
financing activities 1976312088 4640672859
Net cash flow generated by financing 1563224370 -239746030
IV. Influence of exchange rate alternation
on cash and cash equivalents 485 -122
V.Net increase of cash and cash
equivalents 943210800 301629080
Add: balance of cash and cash
equivalents at the beginning of term 707707282 338045631
VI ..Balance of cash and cash
equivalents at the end of term 1650918082 639674711
63Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
7. Consolidated Statement on Change in Owners’ Equity
Amount in this period
In RMB
The first half year of 2022
Owner’s equity Attributable to the Parent Company
Other Equity
Items instrument Less: Other Specializ Comm
Minor Total of
Share Preferr Capital Shar Comprehen ed Surplus on risk Retained Oth
shareholde owners’
Capital reserves es in reserves provisi profit er Subtotal rs’ equity equityed Sustaina Oth stock sive Income reservestock onble debt er
I.Balance at the end of last year 5250283 4295429 17500115 8903515 2985840 23185079 9560790 32745870986 055 71 135 058 805 618 423
21764101
Add: Change of accounting policy 6 217641016 2049616 219690632
Correcting of previous errors 0
Merger of entities under common control 0
Other 0
II.Balance at the beginning of current 5250283 4295429 17500115 8903515 3203481 23402720 9562840 32965561
year 986 055 71 135 074 821 234 055
----
III.Changed in the current year -22519076 -93817726 1375739 14920759 60677151 20988474165 67 8 85
----
（1）Total comprehensive income -93817726 1375739 14695568 74730995 22168668
16591849（II）Investment or decreasing of - 16567260
capital by owners 22519076 0 0 0 0 0 0 0 -22519076 9 143153533
1．Ordinary Shares invested by sharehol 0 14502631ders 1 145026311
2．Holders of other equity instruments i
nvested capital 0
3．Amount of shares paid and
accounted as owners’ equity 0
4 Other -． 22519076 -22519076 20646298 -1872778（III）Profit allotment -25134169 -25134169
1.Providing of surplus reserves 0
2.Providing of common risk provisions 0
3．Allotment to the owners (or -
shareholders) 0 25134169 -25134169
64Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
4．Other
(IV) Internal transferring of owners’
equity 0
1. Capitalizing of capital reserves (or to
capital shares) 0
2. Capitalizing of surplus reserves (or to
capital shares) 0
3．Making up losses by surplus
reserves. 0
4.Change amount of defined benefit
plans that carry forward 0
Retained earnings
5．Other comprehensive income carry-
over retained earnings 0
6．Other 0
(V). Special reserves 0
1. Provided this year 0
2．Used this term 0（VI）Other 0
IV. Balance at the end of this term 5250283 4272909 16561938 8903515 1827741 21910644 8956068 30866713986 979 45 135 909 854 716 570
Amount in last year
In RMB
The first half year of 2021
Owner’s equity Attributable to the Parent Company
Other Equity
Items Less: Comm Minor Total ofinstrument
Share Other SpecializPreferr Capital Shar Comprehen ed Surplus on risk Retained Oth
shareholder owners’
Capital reserves es in reserves provisi profit er Subtotal s’ equity equityed Sustaina Oth stock sive Income reservestock onble debt er
I.Balance at the end of last year 5250283 8014211 19571754 8515360 8083048 31820079 11808648 43628727986 278 81 638 238 621 219 840
Add: Change of accounting policy 0
Correcting of previous errors 0
Merger of entities under common
control 0
Other 0
II.Balance at the beginning of current 5250283 8014211 19571754 8515360 8083048 31820079 11808648 43628727
year 986 278 81 638 238 621 219 840
III.Changed in the current year 0 11033133 84349552 38815449 - - - -7 73835020 25481302 18819781 44301083
65Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
7505
（1）Total comprehensive income 84349552 32662927 41097882 16127082 572249655 7 9 6（II）Investment or decreasing of 11033133 11033133 26404817 27508130capital by owners 1 4
1．Ordinary Shares invested by shareho 0 25344143 25344143lders 1 1
2．Holders of other equity instruments i
nvested capital
3．Amount of shares paid and
accounted as owners’ equity
4．Other 11033133 11033133 10606740 21639873
----（III）Profit allotment 388154497 1064979 67682498 61351681 12903417482 5 0 95
-
1.Providing of surplus reserves 388154497 388154497
2.Providing of common risk provisions
3．Allotment to the owners (or - - - -
shareholders) 67588603 67588603 61260840 128849442 2 4 36
4．Other -938953 -938953 -908406 -1847359
(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 year
2．Used this term（VI）Other
IV. Balance at the end of this term 5250283 8025244 20415250 8903515 7344698 31565266 11620450 43185717986 411 33 135 031 596 409 005
66Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
8.Statement of change in owner’s Equity of the Parent Company
Amount in this period
In RMB
The first half year of 2022
Other Equity instrument Less:
Items Capital Share OtherShare capital Comprehensiv Specialize Surplus Retained Total ofPreferre Sustainabl Othe reserves s in e Income d reserve reserves profit
Other owners’ equity
d stock e debt r stock
525028398 483403957 1764421309 890351513 65853773 2733763738I.Balance at the end of last year 6 5 5 84 9
Add: Change of accounting policy
Correcting of previous errors
Other
525028398 483403957 1764421309 890351513 65853773 2733763738II.Balance at the beginning of current year 6 5 5 84 9
III.Changed in the current year 0 0 0 0 0 0 -93817727 0 0
15391629
8060098571
（I）Total comprehensive income -93817727 153916298 60098571
(II) Investment or decreasing of capital by owners
1．Ordinary Shares invested by shareholders
2．Holders of other equity instruments invested capi
tal
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
67Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
5．Other comprehensive income carry-over retained
earnings
6．Other
(V) Special reserves
1. Provided this year
2．Used this term（VI）Other
IV. Balance at the end of this term 525028398 0 0 0 4834039576 5 0 1670603582 0
89035151367392936027397735965820
Amount in last year
In RMB
The first half year of 2021
Other Equity instrument Less:
Items
Share Capital Capital Share
Other Specialize Surplus Retained Othe Total of
Preferre Sustainabl Othe reserves s in
Comprehensiv
e Income d reserve reserves profit r owners’ equityd stock e debt r stock
5250283985405326648515360634724248212584152507
I.Balance at the end of last year 6 3 1946305595 8 1 3
Add: Change of accounting policy
Correcting of previous errors
Other
525028398540532664
II.Balance at the beginning of current year 6 3 1946305595
8515360634724248212584152507
813
III.Changed in the current year 0 0 0 0 0 0 84349552 0 388154497 774538428 0 1247042477
I Total comprehensive income 84349552 179272700（ ） 3 1877076555
(II) Investment or decreasing of capital by owners
1．Ordinary Shares invested by shareholders
2．Holders of other equity instruments invested c
apital
3.Amount of shares paid and accounted as
owners’ equity
4．Other -571287069
-（III）Profit allotment 0 0 0 0 0 0 0 388154497 101818857 0 -630034078
5
1.Providing of surplus reserves 388154497 -388154497
2．Allotment to the owners (or shareholders) -630034078 -630034078
3．Other
(IV) Internal transferring of owners’ equity
68Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
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 year
2．Used this term（VI）Other
IV. Balance at the end of this term 525028398 0 0 0 540532664 0 2030655147 0 890351513 549878663 0 27088567556 3 5 9 0
69Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
III．Basic Information of the Company
Guangdong Electric Power Development Co. Ltd. (“the Company”) is a limited liability company jointly
established by Guangdong Electric Power Holding Company China Construction Bank Guangdong Province
Trust Investment Company Guangdong Power Development Co. Ltd. Guangdong International Trust and China
Guangfa Bank (currently named as Guangdong Guangkong Group Co. Ltd.). The address of the Company’s
registered office and head office is F33~F36 South Tower Building of Yudean Square on 2nd Tianhe East Road
Guangzhou Guangdong Province the People’s Republic of China (“the PRC”). The Company’s parent company
is Guangdong Energy Group Co. Ltd. (“GEGC” previously Guangdong Province Yudean Group Co. Ltd.) and
its ultimate controlling shareholder is the State-owned Assets Supervision and Administration 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. As at 30
June 2022 the total share capital of the Company is RMB 5250283986 with par value of RMB 1 each.The Company and its subsidiaries (collectively referred to as “the Group”) are principally engaged in the
businesses of developing and operating electric power plants in Guangdong ， Xingjiang Yunnan HunanProvince and Guangxi the PRC.The financial statement has been approved for issue by the Company’s Board of Directors on August 262021.The Company and its subsidiaries (collectively referred to as “the Group”) are principally engaged in the
businesses of developing and operating electric power plants in Guangdong Province ， Yunnan Province HunanProvince and Guangxi the PRC.The financial statement has been approved for issue by the Company’s Board of Directors on August 292022.For the Consolidation scope changed of the Group please refer to VIII and IX(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 Business Enterprises -
Basic Standard and the specific accounting standards and other relevant regulations issued by the Ministry ofFinance on 15 February 2006 and in subsequent periods (hereafter collectively referred to as “the AccountingStandard for Business Enterprises” or “CAS”) and “Information Disclosure Rule No. 15 for Companies withPublic Traded Securities - Financial Reporting General Provision” issued by China Security Regulatory
Commission.
2. Continuous operation.
On June 30 2022 the Group's net current liabilities were RMB 15.541 billion the capital expenditure
commitment was RMB 22.704 billion and the foreign investment commitment was RMB 1.2 billion of which
the total capital expenditure commitment and foreign investment commitment expected to be paid within one
year was RMB 8.788 billion which posed a certain liquidity risk. The net current liabilities are mainly due to
the fact that some capital expenditures of the Group are supported by short-term loans.In view of the above the Board of Directors of the Company has carefully considered the future working capital
operating conditions and available financing sources of the Group when evaluating the Group's going concern
capability. The Group has formulated the following plans and measures to reduce the pressure on working
capital and improve its financial position:
70Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(i) (i) The Group has maintained a long-term and good cooperative relationship with various financial
institutions (including Guangdong Energy Group Finance Co. Ltd. ("Energy Group Finance Company") an
associate of the Company and Guangdong Energy Finance Leasing Co. Ltd. ("Energy Group Finance Leasing
Company") thus enabling the Group to obtain sufficient financing credit lines from these financial institutions.On June 30 2022 the credit lines of the Group's contracted available financial institutions and the approved
bond issuance lines totaled about RMB 43.582 billion of which the credit line provided by Energy Group
Finance Company was about RMB 13.759 billion the financing line provided by Energy Group Finance
Leasing Company was about RMB 6.188 billion and the credit line provided by other commercial banks was
about RMB 22.835 billion; and the financing amount of medium-term notes registered in China's interbank
market was RMB 800 million. Among the credit lines of the above-mentioned contracted available financial
institutions about RMB 10.931 billion will expire before June 30 2023. According to the communication
results between the management and relevant financial institutions it is expected that these credit lines can be
extended for 12 months upon expiration.(ii) (ii) The Board of Directors of the Company has reviewed the cash flow forecast of the Group prepared by
the management which covers a period of not less than 12 months from June 30 2022. The cash flow forecast
is based on the management's judgments and assumptions on certain future items and its realization will depend
on the achievement of the Group's plans and a series of plans and measures under implementation including: (1)
The Group will continuously monitor the financial indicators of its affiliated companies and improve the
operation and financing structure of its subsidiaries through various measures including but not limited to
measures such as providing financing support and capital increase so that its subsidiaries can continuously meet
the requirements stipulated in the loan agreement in the foreseeable future;(2) The Group can continuously meet
the financing conditions of existing banks and obtain necessary loan renewal and new loans including the
financing from the Energy Group Finance Company and Finance Leasing Company. When necessary it can
successfully conduct external financing by issuing corporate bonds medium-term notes and ultra-short-term
financing bonds; On the basis of fully considering the above-mentioned measures that the Group is
implementing or planning to implement the management is convinced that the Group will be able to obtain
sufficient funds to pay its operating expenses capital expenditure commitment within one year and repay its
due debts in the next 12 months from June 30 2022. Therefore the management considers it appropriate to
prepare the financial statements on the basis of going concern.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 of
production and operation which are mainly reflected in the measurement of expected credit losses of
receivables (Note 5(10)) costing of inventory (Note 5(15)) fixed asset depreciation and intangible asset
amortisation (Notes 5(24)(30，（ 29） ) impairment of long-term assets (Note 5(31)) timing of revenue
recognition (Note 5(43)) deferred tax assets and deferred tax liabilities (Note 5(41)) etc.Details of the Group's critical judgements used in determining significant accounting policies are set forth in
Note 5(44).
71Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
1.Complying with the statements in Accounting Standards for Business Enterprises
The financial Report and statements are prepared with compliance to the requirement of the Enterprise
Accounting Standard. They reflect the financial position as of June 30 2022 as well as the business performance
and cash flow situation in the first half of 2022 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 2022 to 6 months ended June
302022.
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. 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 assets
obtained are measured at carrying amount. The difference between the carrying amount of the net assets obtained
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 any excess is adjusted to
retained earnings. Any costs directly attributable to the combination are recognized in profit or loss for the current
period when occurred. The transaction costs of issuing equity or debt securities for business 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 are measured at fair
value. If the combining costs are greater than the fair value of identifiable net assets at the acquisition date the
difference is recognized as goodwill; if the combining costs are less than the fair value of identifiable 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 the periods in which the costs
are incurred. The costs of the issuance of equity or debt securities as a part of the consideration paid for the
acquisition are included as a part of initial recognition amount of the equity or debt securities.
6.Preparation of the consolidated financial statements
The consolidated financial statements comprise the financial statements of the Company and all of its subsidiaries.Subsidiaries are consolidated from the date on which the Group obtains control and are de-consolidated from the
date that such control ceases. For a subsidiary that is acquired in a business combination involving enterprises
under common control it is included in the consolidated financial statements from the date when it together with
the Company comes under common control of the ultimate controlling party. The portion of the net profits
realised before the combination date is presented separately in the consolidated income statement.In the preparation of consolidated financial statements if the accounting policies or accounting period among the
Company and subsidiaries are inconsistent the financial statements of subsidiaries have been adjusted to conform
to the Company’s policies and accounting period. For business combination not obtained under common control
72Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
the financial statements have been adjusted based on the fair value of net recognisable asset on the acquisition
date.All significant intra-group balances transactions and unrealised profits are eliminated in the consolidated financial
statements. The portion of subsidiaries’ owners’ equity and the portion of subsidiaries’ net profits and losses and
comprehensive incomes for the period not attributable to the Company are recognised as minority interests net
profit attributed to minority interests and total comprehensive incomes attributed to minority interests and
presented separately in the consolidated financial statements under owners’ equity net profits and total
comprehensive income respectively. When the Company sells assets to subsidiaries the unrealised gains and
losses should fully offset the net profit attributed to shareholders of the parent company; when subsidiaries sell
assets to the Company the unrealised gains and losses should be assigned and offset between the net profit
attributed to shareholders of the parent company and minority interests according to the Company’s distribution
ratio of the subsidiary. The unrealised gains and losses between subsidiaries should be assigned and offset
between the net profit attributed to shareholders of the parent company and minority interests according to the
parent company’s distribution ratio of the subsidiary.In preparing the consolidated financial statements where the accounting policies and the accounting periods of the
Company and subsidiaries are inconsistent the financial statements of the subsidiaries are adjusted in accordance
with the accounting policies and the accounting period of the Company. For subsidiaries acquired from business
combinations involving enterprises not under common control the individual financial statements of the
subsidiaries are adjusted based on the fair value of the identifiable net assets at the acquisition date.
7.Classification of joint venture arrangement and accounting treatment methods for joint operation
8.Cash and cash equivalents
Cash and cash equivalents comprise cash on hand demand deposits and short-term highly liquid investments
which are readily convertible into known amounts of cash and are subject to an insignificant risk of change in
value.
9.Foreign currency transactions
Foreign currency transactions are translated into recording currency using the exchange rates prevailing at the
dates of the transactions. At the balance sheet date monetary items denominated in foreign currencies are
translated into RMB using the spot exchange rates on the balance sheet date. Exchange differences arising from
these translations are recognised in profit or loss for the current period except for those attributable to foreign
currency borrowings that have been taken out specifically for acquisition or construction of qualifying assets
which are capitalised as part of the cost of those assets. Non-monetary items denominated in foreign currencies
that are measured at historical costs are translated at the balance sheet date using the spot exchange rates at the
date of the transactions. The effect of exchange rate changes on cash is presented separately in the cash flow
statement.
10. Financial instruments
Financial instruments refer to contracts that form financial assets of one party and financial liabilities or equity
instruments of other parties. When the Group becomes a party to a financial instrument contract the relevant
financial assets or financial liabilities are recognized.
73Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(a) Financial assets
(i) Classification and measurement
According to the business model for managing financial assets and the contractual cash flow characteristics of
financial assets the Group classifies financial assets into: (1) Financial assets measured in amortized cost; (2)
Financial assets measured at fair value whose changes are included in other comprehensive income; (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 measured at fair
value whose changes are included in current profits and losses relevant transaction costs are directly included in
current profits and losses; For other types of financial assets relevant transaction costs are included in the initial
recognition amount. Accounts receivable or notes receivable arising from the sale of products or the provision of
labor services that do not include or take into account significant financing components are initially recognized by
the Group in accordance with the amount of consideration that the Group is expected to be entitled to receive.Debt instrument
Debt instruments held by the Group refer to instruments that meet the definition of financial liabilities from 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 and the
contractual cash flow characteristics of such financial assets are consistent with the basic lending arrangements
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 assets according to the
effective interest rate method. Such financial assets mainly include monetary funds accounts receivable other
receivables and long-term receivables. The Group lists long-term receivables due within one year (including one
year) from the balance sheet date as non-current assets due within one year.Equity instruments
The Group will measure the equity instrument investments that it has no control joint control and significant
influence on at fair value and their changes are included in the current profits and losses and listed as trading
financial assets.In addition the Group designated some non-trading equity instrument investments as financial assets measured at
fair value with changes included in other comprehensive income and listed them as other equity instrument
investments. Dividend income related to such financial assets is included in current profits and losses.(ii) Impairment
For financial assets measured in amortized cost the Group recognizes loss reserves on the basis of expected credit
losses.The Group takes into account reasonable and reliable information on historical events current situation and future
economic situation forecasts and uses the risk of default as the weight to calculate the probability weighted
amount of the present value of the difference between the cash flow receivable from the contract and the 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 financial instruments at
different stages. If the credit risk of financial instruments has not increased significantly since the initial
confirmation it is in the first stage. The Group measures the loss reserve according to the expected credit loss in
the next 12 months; If the credit risk of a financial instrument has increased significantly since its initial
recognition but no credit impairment has occurred it is in the second stage. The Group measures the loss reserve
according to the expected credit loss of the instrument throughout the duration; If a financial instrument has
suffered credit impairment since its initial recognition it is in the third stage. The Group measures the loss reserve
74Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
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 their credit risk
has not increased significantly since the initial confirmation and measures the loss reserve according to 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 calculates interest
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 book balance
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 Group measures
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 the Group
divides the receivables into several combinations according to the credit risk characteristics calculates the
expected credit loss on the basis of the combinations and determines the combination on the following basis:
Account receivable portfolio 1: Accounts receivable from electricity sales
Account receivable portfolio 2: Related party receivable
Account receivable portfolio 3:Other account receivable
Other Account receivable portfolio 1:Advance payments receivable petty cash and other receivable
For accounts receivable divided into combinations the Group refers to the historical credit loss experience
combines the current situation with the forecast of future economic situation compiles a comparison table of
overdue days of accounts receivable and the expected credit loss rate for the whole duration and calculates the
expected credit loss.For other receivables divided into portfolios the Group refers to the historical credit loss experience combines the
current situation with the forecast of future economic situation and calculates the expected credit loss through
default risk exposure and the expected credit loss rate within the next 12 months or the whole duration.The Group includes the accrued or reversed loss reserves into the current profits and losses.（iii） Derecognition of financial assets
A financial asset is derecognised when: (i) the contractual rights to the cash flows from the financial asset expire
(ii) the financial asset has been transferred and the Group transfers substantially all the risks and rewards of
ownership of the financial asset to the transferee or (iii) the financial asset has been transferred and the Group has
not retained control of the financial asset although the Group neither transfers nor retains substantially 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 value and the
consideration received and the accumulated amount of the changes in fair value originally included in other
comprehensive income shall be included in the retained income; On derecognition of a financial asset the
difference between the carrying amount and the sum of the consideration received and the cumulative changes in
fair value that had been recognised directly in owners’ equity is recognised in profit or loss.(b) Financial liabilities
Financial liabilities are classified into the following categories at initial recognition: financial liabilities at fair
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 their fair value after
deducting transaction costs and are subsequently measured using the effective interest rate method. If the term is
less than one year (including one year) it shall be listed as current liabilities; If the term is more than one year but
expires within one year (including one year) from the balance sheet date it shall be listed as non-current liabilities
75Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
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 Group terminates
the recognition of the part of the financial liability or obligation that has been discharged. The difference between
the book value of the termination recognition and the consideration paid shall be included in the profit and loss of
the current period.(c) Determination of the fair value of the financial instruments
The fair value of a financial instrument that is traded in an active market is determined at the quoted price in the
active market. The fair value of a financial instrument that is not traded in an active market is determined by using
a valuation technique. Valuation techniques include using prices of recent market transactions between
knowledgeable and willing parties reference to the current fair value of another financial asset that is substantially
the same with this instrument and discounted cash flow analysis etc. When a valuation technique is used to
establish the fair value of a financial instrument it makes the maximum use of observable market inputs and relies
as little as possible on entity-specific inputs. When the observable inputs are not available or are unrealistic to
obtained unobservable inputs shall be used
11.Note receivable
See Note V (10) Financial Instruments for details.
12.Account receivable
See Note V (10) Financial Instruments for details.
13.Financing receivable
14.Other account receivable
Determination method of expected credit loss of other receivables and accounting treatment method
See Note V (10) Financial Instruments for details.
15. Inventories
(a) Classification
Inventories include fuel and spare parts measured at the lower of cost and net realisable value..(b) Cost of inventories transferred out
Cost of fuel transferred out is calculated using the weighted average method. Spare parts are amortised in full
when received for use.(c) Basis for determining the net realisable value of inventories and provisioning methods for decline in value of
inventories
Any excess of the cost over the net realisable value of inventories is recognised as a provision for diminution in
the value of inventories. Net realisable value is measured by the estimated selling price in the ordinary 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 consumables
Low-value consumables are amortized in full amount.
76Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
16.Contract assets
See Note V (10) Financial Instruments for details.
17.Contract costs
18.Held-for-sale assets
19.Creditor's rights investment
20.Other Creditor's rights investment
21.Long-term account receivable
See Note V (10) Financial Instruments for details.
22. Long-term equity investment
Long-term equity investments comprise the Company’s long-term equity investments in its subsidiaries and 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 the investees
over which the Group has significant influence but not control on their financial and operating policies.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 in associates 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 equity investments
acquired through a business combination involving enterprises under common control the investment cost shall
be the absorbing party’s share of the carrying amount of owners’ equity of the party being absorbed at the
combination date; for long-term equity investment acquired through a business combination involving 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 are acquired in cash the initial
investment cost shall be the purchase price actually paid; if the long-term equity investments are acquired by
issuing equity securities the initial investment cost shall be the fair value of the equity 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 initial investment
costs and cash dividends or profit distribution declared by the investees are recognised as investment income in
profit or loss.For long-term equity investments accounted for using the equity method where the initial investment cost exceeds
the Group’s share of the fair value of the investee’s identifiable net assets at the time of acquisition the investment
is initially measured at cost. Where the initial investment cost is less than the Group’s share of the fair value of the
investee’s identifiable net assets at the time of acquisition the difference is included in profit or 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 the investment
income or losses according to its share of net profit or loss of the investee. The Group discontinues recognising its
77Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
share of net losses of an investee after the carrying amount of the long-term equity investment together with any
long-term interests that in substance form part of the investor’s net investment in the investee are reduced to zero.However if the Group has obligations for additional losses and the criteria with respect to recognition of
provisions under the accounting standards on contingencies are satisfied the Group continues recognising the
investment losses and the provisions. The Company shall adjust the carrying amount of the long term investment
for other changes in shareholders’ equity of the investee (other than net profits or losses) and include the
corresponding adjustment in shareholders’ equity. The carrying amount of the investment 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 investees are eliminated in proportion to the
Group’s equity interest in the investees and then based on which the investment gains or losses are recognised.For the loss on the intra-group transaction amongst the Group and its investees 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 and exists only
when the strategic financial and operating decisions relating to the activities require the unanimous consent of the
Group and the parties sharing the control.Significant influence is the power to participate in the financial and operating policy decisions of the investee but
is not control or joint control over those policies.(d) Impairment of long-term equity invest
The carrying amount of long-term equity investments in subsidiaries joint venture and associates is reduced tothe recoverable amount when the recoverable amount is less than the carrying amount（Note 5(31).
23. Investment properties
The measurement mode of investment property
The measurement by the cost method
Depreciation or amortization method
Investment properties including land use rights that have already been leased out and buildings that are held for
the purpose of leasing are measured initially at cost. Subsequent expenditures incurred in relation to an investment
properties are included in the cost of the investment property when it is probable that the associated economic
benefits will flow to the Group and their costs can be reliably measured; otherwise the expenditures are
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 and land use
rights are depreciated or amortised to their estimated net residual values over their estimated useful lives. The
estimated useful lives the estimated net residual values that are expressed as a percentage of cost and the annual
depreciation (amortization) rates of investment properties are as follows:
Annual depreciation rates
Estimated useful lives Estimated net residual value
House and Building 20 - 40 years 0% to 5% 2.38% to 4.75%
Land use right 60 years 0% 1.67%
The investment property’s estimated useful life net residual value and depreciation (amortisation) method applied
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 at the
78Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
date of the transfer. The carrying amount of the fixed asset shall be measured on the basis of fair value of the
investment property.An investment property is derecognised on disposal or when the investment property is permanently withdrawn
from use and no future economic benefits are expected from its disposal. The net amount of proceeds from sale
transfer retirement or damage of an investment property after its carrying amount and related 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 recoverable amount
is below the carrying amount (Note V(31)).
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 cost
at the acquisition date. The fixed assets injected by the state-owned shareholder during the restructuring of
corporation 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 when
it is probable that the economic benefits associated with the fixed asset will flow to the Group and the costs can
be reliably measured. The carrying amount of those parts that are replaced is derecognised and all the other
subsequent expenditures are recognised in income statement when they are incurred.
（2）Depreciation of fixed assets
The method for Expected useful life Estimated residual
Category Depreciation
depreciation （Year） value
House and building Straight-line method 10 to 50 years 0% to 5% 1.90% to 9.50%
Generation equipment Straight-line method 5-35 years 0% to 5% 2.71% to 20%
Transportation Straight-line method
equipment 5- 15 years 0% to 5% 6.33% to 20%
Other equipment Straight-line method 5- 22 years 0% to5% 4.32% to 20%
Fixed assets are depreciated using the straight-line method to allocate the cost of the assets to their estimated net
residual values over their estimated useful lives. For the fixed assets that have been provided for impairment
loss the related depreciation charge is prospectively determined based upon the adjusted carrying amounts over
their remaining useful lives.The estimated useful life and the estimated net residual value of a fixed asset and the depreciation method
applied 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 recoverable amounts
are below their carrying amounts (Note V(31)).(b)Disposals of fixed assets
A fixed asset is derecognised on disposal or when no future economic benefits are expected from its use or
disposal. The amount of proceeds from disposals on sale transfer retirement or damage of a fixed asset net of
its carrying amount and related taxes and expenses is recognised in profit or loss for the current period.
79Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(3)Cognizance evidence and pricing method of financial leasing fixed assets
See Note V (42) Lease for details.
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 to
working condition for its intended use. When the construction in progress is ready for its intended use it is
transferred to fixed assets and starts depreciation the following month. When recoverable amount of the
construction in progress is lower than its carrying value its carrying value is then reduced to the recoverableamount（Note V(31)).
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 be capitalised
and recorded as part of the cost of the asset when expenditures for the asset and borrowing costs have been
incurred and the activities relating to the acquisition and construction that are necessary to prepare the asset for its
intended use have commenced. The capitalisation of borrowing costs ceases when the asset under acquisition or
construction becomes ready for its intended use the borrowing costs incurred thereafter are recognised in income
statement. Capitalisation of borrowing costs is suspended when the acquisition or construction of a fixed asset is
interrupted abnormally and the interruption lasts for more than 3 months until the acquisition or construction is
resumed.For the specific borrowings obtained for the acquisition or construction of a fixed asset qualifying for
capitalisation the amount of borrowing costs eligible for capitalisation is determined by deducting any interest
income earned from depositing the unused specific borrowings in the banks or any investment income arising on
the temporary investment of those borrowings during the capitalisation period.For the general borrowings obtained for the acquisition or construction of a fixed asset qualifying for
capitalisation the amount of borrowing costs eligible for capitalisation is determined by applying the weighted
average effective interest rate of general borrowings to the weighted average of the excess amount of cumulative
expenditures on the asset over the amount of specific borrowings. The effective interest rate is the rate at which
the estimated future cash flows during the period of expected duration of the borrowings or applicable shorter
period are discounted to the initial amount of the borrowings.
27.Biological Assets
28.Oil & Gas assets
29. Right to use assets
The Group recognizes the right-to-use assets on the start date of the lease term and recognizes the lease
liabilities according to the present value of the unpaid lease payments. The lease payment amount includes the
fixed payment amount and the amount to be paid when it is reasonably determined to exercise or terminate the
call option. The variable rent determined according to a certain percentage of the sales amount is not included in
the lease payment amount but is included in the current profits and losses when it actually occurs. The Group
80Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
lists the lease liabilities paid within one year (including one year) from the balance sheet date as non-current
liabilities due within one year.The right-to-use assets of the Group include rented houses and buildings machinery equipment and means of
transport etc. The right-to-use assets are initially measured according to the cost which includes the initial
measured amount of the lease liabilities the lease payment amount and the initial direct expenses paid on or
before the start date of the lease term etc. with the received lease incentives deducted. If the Group can
reasonably determine that the ownership of the leased asset is acquired at the expiration of the lease term
depreciation shall be accrued within the remaining service life of the leased asset; If it is impossible to
reasonably determine whether the ownership of the leased asset can be acquired at the expiration of the lease
term depreciation shall be accrued within the lease term or the remaining service life of the leased asset
whichever is shorter. When the recoverable amount is lower than the book value of the right-to-use assets the
Group will write down its book value to the recoverable amount.For short-term leases with a lease term of no more than 12 months and low-value asset leases with low value
when a single asset is brand new the Group chooses not to recognize the right-to-use assets and lease liabilities
and include the related rental expenses in the current profits and losses or related asset costs by the straight-line
method in each period of the lease term.When the lease changes and the following conditions are met the Group will treat it as a separate lease for
accounting: (1) The lease change expands the lease scope by increasing the right to use one or more leased
assets; (2) The increased consideration is equivalent to the amount of the separate price of the expanded part of
the lease scope adjusted according to the contract.When the lease change is not treated for accounting as a separate lease except for simplified method adopted
for contract change directly caused by the COVID-19 the Group redetermines the lease term on the effective
date of the lease change and uses the revised discount rate to discount the changed lease payment and re-
measure the lease liabilities. If the lease scope is reduced or the lease term is shortened due to lease change the
Group shall correspondingly reduce the book value of the right-to-use assets and include the related gains or
losses of partial or full termination of lease in the current profits and losses. If other lease changes lead to the re-
measurement of lease liabilities the Group will adjust the book value of the right-to-use assets accordingly.
30. Intangible assets
1. Valuation Method Service Life and Impairment Test of Intangible Assets
Intangible assets mainly including land use rights sea use rights software associated projects for electricity
transmission and transformation microwave engineering and transportation engineering are measured at cost.Intangible assets contributed by the state-owned shareholders at the incorporation of a limited company are
initially recorded at the valuation amount recognised by the state-owned assets supervision and administration
department.(a) Land use right and sea use right
Land use rights are amortized on a straight-line basis over their approved period of 20 to 70 years. If the purchase
costs of land and attached buildings cannot be reasonably allocated between the land use right and the buildings
the purchase costs are recognised as fixed assets.(b) Other intangible assets
Besides 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-line
basis over their expected life of 2 years to 60 years.
81Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(c) Periodic review on useful life and method of amortization
For intangible assets with finite useful life their expected life and amortization method are reviewed and adjusted
at the end of every year.(d) Impairment of intangible assets
The carrying amount of intangible assets is reduced to the recoverable amount when the recoverable amount is
less than the carrying amount (Note V (31)).
（2） Research and development
The expenditure on an internal research and development project is classified into expenditure on the research
phase and expenditure on the development phase based on its nature and whether there is material uncertainty 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 capitalised 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 the application
of intangible assets or the intangible assets themselves can prove to have market value intangible assets 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 to use 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 in the
period in which they are incurred. Development costs previously recognised as expenses are not recognised as an
asset in a subsequent period. Capitalised expenditure on the development phase is presented as development costs
in the balance sheet and transferred to intangible assets at the date that the asset is ready for its intended use.
31. Impairment of long-term assets
Fixed assets construction in progress intangible assets with finite useful lives investment property measured at
cost and long-term equity investments in subsidiaries joint venture and associates are tested for impairment if
there is any indication that an asset may be impaired at the balance date. If the result of the impairment test
indicates that the recoverable amount of the asset is less than its carrying amount a provision for impairment and
an impairment loss are recognised for 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 to be derived from the asset. A provision for asset impairment is determined and
recognised on an individual asset basis. If it is not possible to estimate the recoverable amount of an individual
asset the recoverable amount of the group of assets to which the asset belongs is determined. A group of assets is
the smallest group of assets that is able to generate independent cash 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 value of
goodwill is allocated to the related asset group or groups of asset groups which are expected to benefit from the
synergies of the business combination. If the result of the test indicates that the recoverable amount of an asset
group or a group of asset groups including the allocated goodwill is lower than its carrying amount the
corresponding impairment loss is recognised. The impairment loss is first deducted from the carrying amount of
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 of
82Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
assets other than goodwill.Once the asset impairment loss mentioned above is recognised it is not allowed to be reversed for the value
recovered in the subsequent periods.
32.Long-term deferred expenses
Long-term prepaid expenses include the expenditure for improvements to fixed assets held under operating leases
and other expenditures that have been incurred but should be recognised as expenses over more than one year in
the current and subsequent periods. Long-term prepaid expenses are amortised on the straight-line basis over the
expected beneficial period and are presented at actual expenditure net of accumulated amortisation.
33.Constract Liabilities
See Note V (39) Revenue for details.
34. Employee benefits
(1) Short-term employee benefits
Short-term remunerations mainly include wages or salaries bonuses allowances and subsidies staff welfare
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 current liabilities in the
accounting period in which the service has been rendered by the employees and as costs of assets or expenses to
whichever the employee service is attributable. Non-monetary benefits are measured at fair value.
（2）Post –employment benefits
The Company’s post-employment benefits scheme includes both Defined Contribution Plan (DCP) and Defined
Benefit Plan (DBP). A DCP is a pension plan under which the Company pays fixed contributions into a separate
entity and has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient
assets to pay all employees the benefits relating to employee service in the current and prior periods. A DBP is a
pension plan that is not a defined contribution plan. During the periods of reporting the Company’s post-
employment benefits scheme mainly includes basic pension insurance and unemployment insurances both of
which are DCP.Basic pension insurance
Employees of the Group have entered into the social pension insurance scheme organised by local labour and
social security department. The Group pays basic pension insurances to local labour and social security
department monthly according to local insurance base and corresponding rate. Local labour and social security
department is obligated to pay basic pensions to retired employees.Supplementary pension insurance
The company purchases supplementary pension insurance on behalf of employees and pays pension insurances
according to the policies of Energy Group. The amounts based on the above calculations are recognised as
liabilities 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 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 of the
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 defined
benefit plans are classified into the following parts:
83Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
— service cost (including current service cost as well as gains and losses on curtailments and settlements);
— net interest expenses on net liabilities of the defined benefit plan (including interest expenses for obligations of
the defined benefit plan); and
— Changes arising from remeasurement on net liabilities of defined benefit plans
Service cost and net interest expenses on net liabilities of defined benefit plans are included in profit or loss 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 the end of
the employment contracts or as an offer to encourage employees to accept voluntary redundancy before the end of
the employment contracts. The Group recognises a liability arising from compensation for termination of the
employment relationship with employees with a corresponding charge to profit or loss at the earlier of the
following dates: 1) when the Group cannot unilaterally withdraw the offer of termination benefits because of an
employment termination plan or a curtailment proposal; 2) when the Group recognises costs or expenses 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 retirement arrangement.Early retirement benefits refer to wages and social benefit paid by the Group on behalf of the employees who have
not meet retirement age requirement but voluntarily retire after permission from the Group’s management level.The Group starts paying early retirement benefits to early retired employees from the start date of their early
retirement until they reach the statutory retirement age. For the accounting treatment of early retirement benefits
the Group adopts the same method as termination benefits that is upon confirming the termination benefits
comply with relevant conditions proposed payment of early retirement wages. and social security from the start
date of termination of services to the date of statutory retirement age are recognised as liability and recorded into
profit and loss at lump sum. The discrepancy caused by change in actuarial assumption and adjustment of welfare
standard is recorded into current profit or loss.
35.Lease liabilities
See Note V (42) Lease for details.
36. Estimated Liabilities
Provisions for product warranties onerous contracts etc. are recognised when the Group has a present obligation
it is probable that an outflow of economic benefits will be required to settle the obligation and the amount of the
obligation can be measured reliably.A provision is initially measured at the best estimate of the expenditure required to settle the related present
obligation. Factors surrounding a contingency such as the risks uncertainties and the time value of money are
taken into account as a whole in reaching the best estimate of a provision. Where the effect of the time 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 interest expense.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 as current
84Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
liabilities.
37. Share payment
38. Other financial instruments such as preferred stocks and perpetual bonds
39. Revenue
Accounting policies adopted for income recognition and measurement
When the customer obtains the control of the relevant goods or services the Group recognizes the income
according to the expected amount of consideration that it is entitled to receive.(a) Revenue from sales of electricity and heat energy
Revenue is recognised when electricity and heat energy are supplied to grid companies or customers and grid
companies or customers obtain control over electricity.(b) Revenue from sales of by-products
Revenue 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 the recipient
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 by the
Group to external parties upon the receiving of the service revenue is recognised based on the difference between
the purchase price and the selling price of electricity.(d) Rendering of services
The Group provides maintenance services to external parties. The related revenue is recognised based on the stage
of completion within a certain period which is determined based on proportion of costs incurred to date to the
estimated total costs. On the balance sheet date the Group re-estimates the stage of completion to reflect the
actual status of contract performance.When the Group recognises revenue based on the stage of completion the amount with unconditional collection
right obtained by the Group is recognised as accounts receivable and the rest is recognised as contract assets.Meanwhile loss provision for accounts receivable and contract assets are recognised on the basis of ECLs (Note
V(10)). If the contract price received or receivable exceeds the amount for the completed service the excess
portion will be recognised as contract liabilities.Contract assets and contract liabilities under the same contract are presented on a net basis. Contract costs include
contract performance costs and contract acquisition costs. The costs incurred by the Group for the rendering of
maintenance services are recognised as contract performance costs and are carried forward to the cost 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 percentage completion
method determined by percentage of the total cost incurred.The adoption of different business models in similar businesses leads to differences in accounting policies for
income recognition
85Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
40.Government grants
Government grants refer to the monetary or non-monetary assets obtained by the Group from the government
including tax return financial subsidy and etc. Government grants are recognised when the grants can be
received and the Group can comply with all attached conditions. If a government grant is a monetary asset it
will be measured at the amount received or receivable. If a government grant is a non-monetary asset it will be
measured at its fair value. If it is unable to obtain its fair value reliably it will be measured at its nominal
amount. Government grants related to assets refer to government grants which are obtained by the Group for the
purposes of purchase construction or acquisition of the long-term assets. Government grants related to income
refer to the government grants other than those related to assets. Government grants related to assets 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 are
recognised in profit or loss. Government grants related to income that compensate future costs expenses or
losses are recorded as deferred income and recognised in profit or loss in reporting the related costs expenses or
losses; government grants related to income that compensate incurred costs expenses or losses are recognised
in profit or loss directly in the current period.
41. Deferred income tax assets/Deferred income tax liability
Deferred tax assets and deferred tax liabilities are calculated and recognised based on the differences arising
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 for deduction of the
taxable profit in accordance with the tax laws. No deferred tax liabilities is recognised for the temporary
differences resulting from the initial recognition of Goodwill. No deferred tax asset or deferred tax liability is
recognised for the temporary differences resulting from the initial recognition of assets or liabilities due to a
transaction other than a business combination which affects neither accounting profit nor taxable profit (or
deductible loss). At the balance sheet date deferred tax assets and deferred tax liabilities are measured at the tax
rates that are expected to apply to the period when the asset is realised or the liability is settled.Deferred tax assets are only recognised for deductible temporary differences deductible losses and tax credits to
the extent that it is probable that taxable profit will be available in the future against which the deductible
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 temporary
difference and it is probable that the temporary difference will not reverse in the foreseeable future. When it is
probable that the temporary differences arising from investments in subsidiaries and associates will be reversed in
the foreseeable future and that the taxable profit will be available in the future against which the temporary
differences 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.
42. Leases
（1）Accounting of operational leasing
When the Group operates leased buildings machinery equipment and means of transport the rental income from
operating lease is recognized on a straight-line basis during the lease period. The variable rent determined
86Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
according to a certain proportion of the sales amount is included in the rental income when it actually occurs.For rent relief directly due to the COVID-19 epidemic and only before June 30 2022 the Group chose to adopt a
simplified method taking the relief rent as variable rent and recording the relief amount in the current profits and
losses during the relief period.Except for the contract changes directly caused by the above-mentioned COVID-19 epidemic when the lease
changes the Group takes it as a new lease from the effective date of the change and takes the lease receipts
received in advance or receivable related to the lease before the change as the new lease receipts.
（2）Accounting treatment of financing leasing
See Note V (39
43. Other significant accounting policies and estimates
Segment information:
The Group identifies operating segments based on the internal organization structure management requirements
and internal reporting system and discloses segment information of reportable segments which are determined on
the basis of operating segments.An operating segment is a component of the Group that satisfies all of the following conditions: (1) the
component is able to earn revenues and incur expenses from its ordinary activities; (2) whose operating results are
regularly reviewed by the Group’s management to make decisions about resources to be allocated to the segment
and to assess its performance and (3) for which the information on financial position operating results and cash
flows is available to the Group. If two or more operating segments have similar economic characteristics and
satisfy certain conditions they are aggregated into one single operating segment.Critical accounting estimates and judgements
The Group continually evaluates the critical accounting estimates and key judgements applied based on historical
experience and other factors including expectations of future events that are believed to be reasonable under the
circumstances.(a) Key judgement in critical accounting policy
Critical accounting estimates and key assumptions listed bellow contain significant risks to major changes on the
carrying amount of assests and liabilities in the following accouting year:
(i) Classfication of financial assets
The Group determines the classification of financial assets based on the significant judgement of analysis of
business model and cash flow characteristics.The Group determines the business model of managing financial assets based on the level of financial assets’
group. The consideration factors include the means of assessing and reporting to the key management the
performance of the financial assets the risks that hinders the performance assets and the managing style and the
means of payment to its own management personnel.The major judgment in determining whether the contractual cash flow characteristics of the financial assets is in
consistency of the borrowing arrangement includes: whether there is a change in the amount of principal or the
timing of the duration when repayment in advance and etc. occurs; whether the mere considerations of interest are
time value of the money credit risk other basic risks of debt and consideration for cost and profit. For example
the judgment on the amount of repayment in advance should be whether or not the amount only reflects the
unpaid principle the interest that is calculated based on the unpaid principle and the reasonable compensation for
terminating the contract in advance.(ii) Assessment of significant increase in credit risk
The assessment of the Group on whether the increase of credit risk is significant includes changes in one or more
87Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
than one indicators: the conditions of the debtor’s business the internal and external credit rating the significant
change in the actual or expected operation result the value of collateral asset or the significant decrease in the
credit rating of the guarantor.The assessment of the Group on whether a credit loss occurs includes the debtors are in financial difficulties in
the restructure of debts or possibly subject to bankruptcy
(b) Critical accounting estimates and key assumptions
(i) Estimates on impairment of long-term assets
As described in Note 5(20) fixed assets construction in progress intangible assets with finite useful lives
investment properties that are measured at cost and long-term equity investments in subsidiaries joint ventures
and associates are tested for impairment if there are indications that the assets may be impaired at the balance
sheet date.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 flows arising from the
continuing use or disposal of the asset is lower than its carrying amount; and (iii) whether the significant
assumptions used in the calculation of the present value of the estimated cash flows are appropriate.Relevant assumptions adopted by the Group to determine impairment e.g. changes in assumptions on discount
rate and growth rate used to calculate the present value of future cash flows may have material impact on the
present value used in the impairment test and cause impairment in the above-mentioned long-term assets of the
Group.(ii) Measurement of expected credit losses
The Group calculates expected credit losses through default risk exposure and expected credit loss rate and
determines the expected credit loss rate based on default probability and default loss rate. In determining the
expected credit loss rate the Group uses data such as internal historical credit loss experience etc. and adjusts
historical data based on current conditions and forward-looking information. When considering forward-looking
information the indicators used by the Group include the risk of economic downturn the external market
environment the technological environment and changes in customer conditions. The Group regularly monitors
and reviews assumptions related to the calculation of expected credit losses.(iii）Point of revenue recognition
With regard to sales of electricity to grid companies the Group supplies electricity to grid companies in
accordance with the contract. Then grid companies have the right to sell electricity and set price at its sole
discretion and take the risks of any price fluctuation and damages or losses of the products. The Group believes
that the grid companies obtain control over electric power upon receiving the electric. Therefore revenue is
recognised accordingly.(b) Critical accounting estimates and key assumptions The critical accounting estimates and key assumptions that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the
next accounting year are outlined below:
(i) Accounting estimates on impairment of long-term assets
As described in Note v(31) fixed assets construction in progress intangible assets with finite useful lives
investment properties that are measured at cost and long-term equity investments in subsidiaries joint ventures
and associates are tested for impairment if there is any indication that an asset may be impaired at the balance
sheet date. If the result of the impairment test indicates that the recoverable amount of an asset is less than its
carrying amount a provision for impairment and an impairment loss are recognised for 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 to be derived from the asset. These
88Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
calculations require use of 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 flows arising from the
continuing use or disposal of the asset is lower than its carrying amount; and (iii) whether the significant
assumptions used in the calculation of the present value of the estimated cash flows are appropriate.Relevant assumptions adopted by the Group to determine impairment e.g. changes in assumptions on discount
rate growth rate and gross margins used to calculate the present value of future cash flows may have material
impact on the present value used in the impairment test and cause impairment in the above-mentioned long-term
assets of the Group.(ii) Measurement of ECLs
The Group calculates ECLs through default risk exposure and ECL rate and determines the ECL rate based on
default probability and default loss rate. In determining the ECL rate the Group uses data such as internal
historical credit loss experience etc. and adjusts historical data based on current conditions and forward-looking
information. When considering forward-looking information the Group considered different macroeconomic
scenarios. Significant macroeconomic assumptions related to the estimation of ECLs include the risk of economic
downturn the external market environment the technological environment changes in customer conditions gross
domestic product consumer price index etc. The Group regularly monitors and reviews assumptions related to
the calculation of ECLs. In 2022 the Group updated values of forward-looking parameters used in ECL model to
reflect the impact of COVID-19 on ECLs of financial instrument in a timely manner.(iii) Income tax and deferred income tax
The Group is subject to enterprise income tax in numerous jurisdictions. There are some transactions and events
for which the ultimate tax determination is uncertain during the ordinary course of business. Significant
judgement is required from the Group in determining the provision for income taxes in each of these jurisdictions.Where the final tax outcome of these matters is different from the amounts that were initially recorded such
differences will impact the income tax and deferred tax provisions in the period in which such determination is
made.As stated in Note VI some subsidiaries of the Group are high-tech enterprises. The high-tech enterprise
certificate is effective for three years. Upon expiration application for high-tech enterprise identification should
be submitted again to the relevant government authorities. Based on the historical experience of reassessment
for high-tech enterprise upon expiration and the actual condition of the subsidiaries the Group considers that
the subsidiaries are able to obtain the qualification for high-tech enterprises in future years and therefore a
preferential tax rate of 15% is used to calculate the corresponding deferred income tax. If some subsidiaries
cannot obtain the qualification for high-tech enterprise upon expiration then the subsidiaries are subject to a
statutory tax rate of 25% for the calculation of the income tax which further influences the recognised deferred
tax assets deferred tax liabilities and income tax expenses.Deferred tax assets are recognised for the deductible tax losses that can be carried forward to subsequent years to
the extent that it is probable that taxable profit will be available in the future against which the deductible tax
losses can be utilised. Taxable profit that will be available in the future includes the taxable profit that will be
realised through normal operations and the taxable profit that will be increased upon the reversal of taxable
temporary differences incurred in prior periods. Judgments and estimates are required to determine the time and
amounts of taxable profit in the future. Any difference between the reality and the estimate may result in
adjustment to the carrying amount of deferred tax assets.
89Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
44.Change of main accounting policies and estimations
(1)Change of main accounting policies
√ Applicable □ Not applicable
The content and reason for change of
accounting policy Approval process Remark
The Group and the Company
implemented this notice for the first time
on January 1 2022. According to
relevant regulations if an enterprise sells
the products or by-products produced
before the fixed assets reach the intended
usable state or during the R&D process
(hereinafter referred to as trial run sales)
it shall separately treat the income and
cost related to trial run sales for
In 2021 the Ministry of Finance issued accounting according to the provisions of
the Notice on Printing and Distributing Accounting Standards for Business
the
Standards for Business Enterprises> Accounting Standards for Business
(CK [2021] No.35) and the Group has Enterprises No.1–Inventory etc. and
adopted the above notice and Q&A to record them in the current profits and
prepare the semi-annual financial losses and shall not write down the net
statements for 2022 amount of the related revenue from trialrun sales deducted related costs by the
fixed asset cost or R&D expenditure. The
Group and the Company shall make
retrospective adjustment according to the
provisions of this interpretation for the
trial run sales that occurred between the
beginning of the earliest period of
presentation of the financial statements
in which this interpretation is first
implemented and the implementation
date of this interpretation.In RMB
Project December 31 2021(before adjustment) Adjusted numbers
January 1 2022
(After adjustment)
Works in Progress 8634727069 75964696 8710691765
Fixed assets 56943126256 201973167 57145099423
Consolidated balance Deferred tax assets 1235089217 -58247231 1176841986
sheet
Undistributed profits 2985840058 217641016 3203481074
Minority shareholders'
equity 9560790618 2049616 9562840234
(2) Change of main accounting estimations
□Applicable√ Not applicable
90Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
45.Other
VI. Taxation
1. Main categories and rates of taxes
Class of tax Tax basis Tax rate
Taxable value-added amount (Tax
payable is calculated using the taxable
VAT sales amount multiplied by the applicable 3%5%6%9% and13% Hydropowertax rate less deductible VAT input of the sales revenue applies to 3%.current period) Revenue from
hydropower sales
City maintenance and construction tax Amount of VAT paid 5% to7%
Corporate income tax Taxable income 12.5%15%20% and 25%
Education surcharges Amount of VAT paid 3%
Local education surcharges Amount of VAT paid 2%
Property’s rental income or the residual
House property tax value from original value less the 12% and1.2%
deducting proportion
Calculated and paid based on the
pollution equivalent values or the Calculated and paid based on theEnvironmental protection tax(b) discharge of taxable pollutants multiplied applicable tax amounts of different
by the applicable tax amounts pollutants
In case there exist any taxpayer paying corporate income tax at different tax rates disclose the information
Name of taxpayer Income tax rates
Guangdong Yudean Leizhou Wind Power Generation Co. Ltd. 12.5%
Guangdong Guangye Nanhua New Energy Co. Ltd. 12.5%
Yudean Pingyuan Wind Power 0%
Yudean Zhuhai Offshore wind power 0%
Hunan Xupu Yuefeng New Energy Co. Ltd. 0%
Guangxi Wuxuan Yuefeng New Energy Co. Ltd. 0%
Guangdong Yudean Yangjiang Offshore wind power 0%
Shaoguan Nanxiong Yuefeng New Energy Co. Ltd. 0%
Yudean Jinxiu Interated Energy Co. Ltd. 20%
Zhangjiang Electric Power Co. Ltd. 15%
Guangdong Yudean Zhangjiang Biomass Power Generation Co. Ltd. 15%
Shenzhen Huaguoquan Electric Industry Service Co. Ltd. 20%
Zhanjiang Wanhaowei New Energy Co. Ltd. 20%
2.Tax preferences
(a) Pursuant to the approval of No. 46[2008]Caishui and No. 80[2009]Guoshuifa documents Guangdong
Yudean Leizhou Wind Power Co. Ltd(“Leizhou Wind Power”) Guangdong Guangye Nanhua New Energy Co.Ltd (“Nanhua New Energy”) ") Guangdong Yuden Pingyuan Wind Power Co. Ltd("Pingyuan Wind Power")
Guangdong Yudean Zhuhai Offshore Wind Power Co. Ltd ("Zhuhai Wind Power") Hunan Xupu Yuefeng
New Energy Co. Ltd ("Xupu Yuefeng") ) Guangxi Wuxuan Yuefeng New Energy Co. Ltd("Wuxuan
Yuefeng") Guangdong Yudean Yangjiang Offshore Wind Power Co. Ltd("Yangjiang Wind Power") and
Shaoguan Nanxiong Yuefeng New Energy Co. Ltd ("Nanxiong New Energy") ) shall be exempted of the
enterprise income tax from the first year to the third year and shall be halved of the enterprise income tax from
the fourth year to the sixth year since from the tax year in which the first production and operation income is
obtained. The first profitable year of Leizhou Wind Power was 2017 the first profitable year of Nanhua New
Energy was 2019 the first profitable year of Pingyuan Wind Power and Zhuhai Wind Power was 2020 and the
first profitable year for Xupu Yuefeng Wuxuan Yuefeng Yangjiang Wind Power and Nanxiong New Energy
91Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
was 2021. Therefore the applicable corporate income tax rate of Leizhou Wind Power and Nanhua New Energy
in 2022 is 12.5% ? ? (In 2021: 12.5% ? ? and 0% respectively) the applicable corporate income tax rate
ofPingyuan Wind Power Zhuhai Wind Power Xupu Yuefeng Wuxuan Yuefeng Yangjiang Wind Power and
Nanxiong New Energy in 2022 is 0% (In 2021: 0% for all aforesaid).Pursuant to the Supplementary Notice on Issues Concerning the Preferential Enterprise Income Tax Policies for
Public Infrastructure Projects (Cai Shui [2014] No. 55) enterprises invest and operate public infrastructure
projects in compliance with the List of Public Infrastructure Projects Enjoying Enterprise Income Tax
Preferential those which adopt one-off approval and are subject to construction in batches (such as terminals
berths airport terminals runways sections generator units etc.) are subject to income tax calculated in 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 its own
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. In 2022 the Group’s subsidiary Guangdong Yudean Qujie
Wind Power Co. Ltd. (“Qujie Wind Power”) met the above conditions. Therefore Qujie wailuo wind power
project (the first time for which profits were posted was 2017) Qujie Wailuo offshore wind power project
(Phase I) (the first time for which profits were posted was 2019) Qujie Wailuo offshore wind power project
(Phase II) (the first time for which profits were posted was 2021) and Xinliao offshore wind power project (the
first time for which profits were posted was 2021) of Qujie Wind Power System are entitled to the tax
preferential policy of “three-year exemptions and three-year halves” respectively according to each wind power
project.According to the No. 74 [2015] Caishui-"Notice on the Value-Added Tax Policy for Wind Power Generation”
Guangdong Yudean Shibeishan Wind Energy Development Co. Ltd Guangdong Yudean Zhanjiang Wind
Power Co. Ltd Guangdong Yudean Xuwen Wind Power Co. Ltd Dianbai Wind Power Huilai Wind Power
Co. Ltd and Guangdong Yudean Wind Power Co. Ltd shall be subject tothe policy of refunding 50% of the
value-added tax on the sale of self-produced power products produced by wind power.Furthermore in accordance with the No. 40[2021]Caishui "Announcement on Improving the Value-Added Tax
Policy for Comprehensive Utilization of Resources" Guangdong Yudean Zhanjiang Biomass Power Generation
Co. Ltd is applied to the policy of 100% VAT refund immediately after collectiondue tothe taxpayer’s
comprehensive utilization of kitchen waste livestock and poultry manure rice husks peanuts husks corncobs
camellia husks cottonseed husks three residuals secondary fuelwood crop straws bagasse and so forth to
produce electricity.(b) In 2019 Guangdong Yudean Zhanjiang Biomass Power Generation Co. Ltd a subsidiary of the Group
obtained the "High-tech Enterprise Certificate" (The certificate number is GR201944000926) jointly issued by
the Guangdong Provincial Department of Science and Technology the Guangdong Provincial Department of
Finance and the Guangdong Provincial Taxation Bureau of the State Administration of Taxation and the
certificate is valid for 3 years with the date of issuance is December 2 2019. According to the relevant
provisions of Article 28 of the "Enterprise Income Tax Law of the People's Republic of China" the applicable
enterprise income tax rate for Zhanjiang Biomass during the reporting period is 15%.In 2020 Zhanjiang Electric Power Co. Ltd. a subsidiary of the Group obtained the "High-tech Enterprise
Certificate" (certificate number: GR202044010003) jointly issued by the Guangdong Provincial Department of
Science and Technology the Guangdong Provincial Department of Finance and the Guangdong Provincial
Taxation Bureau of the State Administration of Taxation with the validity period is 3 years and the issuance
date is December 9 2020. According to the relevant provisions of Article 28 of the "Enterprise Income Tax Law
of the People's Republic of China" the applicable enterprise income tax rate of Zhanjiang Power in 2022 is 15%.
92Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(c) According to the approval by the regulation of No. 13[2019]Caishui"Notice on Implementing Inclusive Tax
Reduction and Exemption Policy for Small and Micro Enterprises" and theNo. 8 [2021] SAT Announcement-
Announcement of the State Administration of Taxation on Matters Concerning the Implementation of
Preferential Income Tax Policies for Supporting the Development of Small and Low-Profit Enterprises and
Individual Industrial and Commercial Households for the portion of annual taxable income not exceeding 1
million for the small and low-profit enterprises it shall be deducted to 12.5% ? ? to be included in the taxable
income and the enterprise income tax shall be paid at the rate of 20%; For the part of the annual taxable income
exceeding 1 million yuan but not exceeding 3 million yuan a 50% reduction is included in the taxable income
and the corporate income tax is paid at the tax rate of 20%. The above-mentioned small and low-profit
enterprises refer to enterprises that engage in industries that are not restricted or prohibited by the state and
meet the three conditions of annual taxable income not exceeding 3 million yuan employees not exceeding 300
and total assets not exceeding 50 million yuan. Shenzhen Huaguoquan Electric Service Co. Ltd ("Huaguoquan
Company") Zhanjiang Wanhaowei New Energy Co. Ltd ("Haanhaowei New Energy") and Yudean JinxiuComprehensive Energy Co. Ltd ("Yudean Jinxiu") ”) in 2022 meet the conditions for small and low-profit
enterprises. Therefore in 2022 the applicable corporate income tax rate of Huaguoquan Company Wanhaowei
New Energy and Yudean Jinxiu is 20% respectively. (In 2021: Both Huaguoquan Company and Wanhaowei
New Energy’s corporate income tax rate was 20%).(d) According to No. 47[2008]Caishui "Notice on Issues Concerning the Implementation of the Corporate
Income Tax Preferential Catalogues for Enterprises with Comprehensive Utilization of Resources" for the
income obtained by the enterprise from the production of the products that meet the relevant national or
industry standards in the afore-said catalogue using the resources listed in the Catalogueof Income Tax
Preferential Catalogue for Enterprises withComprehensive Utilization of Resources (2008 Edition) as the main
raw materials since January 1 2008 the incomeshall be reduced to be 90% to be included in the total revenueof the company for the year.Zhanjiang Power and Guangdong Huizhou Pinghai Power Plant Co. Ltd (“PinghaiPower Plant”) the subsidiaries of the Group use fly ash to produce commercial fly ash which meets the above-
mentioned preferential income tax conditions for comprehensive utilization of resources. Therefore the income
generated from the sale of fly ash by Zhanjiang Power and Pinghai Power Plant in 2022 can be reduced to be
90% to be included in the total income for the year.
3.Other
VII. Notes on major items in consolidated financial statements
1. Monetary funds
In RMB
Items Closing balance Opening balance
Cash on hand 61000 83108
Cash at bank 10805854122 8062567451
Other cash balance 48778163 42670394
Total 10854693285 8105320953
Including：Total amount of
money deposited abroad 0 0
Total of money limited to
use by mortgage pledge or freeze 48778163 42670394
Other note
93Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
（ a).As of June 302022The company’s deposit in Energy Group Finance company is 9056865954 yuan
(6468820757 yuan before December 31 2021).The deposit in Energy Finance means that deposited in
Guangdong Energy Finance Co. Ltd. (“Energy Finance”). Energy Finance is one financial institution approved
by People's Bank of China and is a subsidiary of Energy Group Co. Ltd. Energy Group Finance Company and
the Company are both controlled by Guangdong Energy Group Company.（b）As of June 30 2022 the Group had no funds deposited overseas (December 31 2020: None).（ c） As of June 30 2022 Other monetary funds amounted to RMB 48778163 (On December 31 2021:
RMB 42670394) which mainly are deposits such as ecological protection deposits and performance guarantee
deposits.
2. Transactional financial assets
Not applicable
3. Derivative financial assets
Not applicable
4. Notes receivable
(1) Notes receivable listed by category
In RMB
Items Year-end balance Year-beginning balance
Trade acceptance 165603
Total 0 165603
In RMB
Amount in year-end Balance Year-beginning
Book Balance Bad debt provision Book Balance Bad debt provision
Category Amo Propor Amoun Proporti Book Amount Proporti Amount Proporti Book
unt tion(% t on(%) value on(%) on(%) value
)
Of which
Notes
receivable for
bad debt 165603 100% 165603
provision by
portfolio
Of which
Trade note
receivable 165603 100% 165603
Total 165603 100% 165603
Relevant information of the provision for bad debts will be disclosed with reference to the disclosure method of
other receivables if the provision for bad debts of bills receivable is accrued according to the general model of
expected credit loss:
□ Applicable √ Not applicable
(2) Accounts receivable withdraw reversed or collected during the reporting period
The withdrawal amount of the bad debt provision：
In RMB
Category Opening balance Amount of change in the current periodAccrual Reversed or Write-off Other Closing balance
94Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
collected amount
Of which the significant amount of the reversed or collected part during the reporting period
□ Applicable √ Not applicable
（3）The current accounts receivable write-offs situation
Not applicable
（4）Accounts receivable financing endorsed or discounted by the Company at the end of the period and not
expired yet on the date of balance sheet
Not applicable
（5）Accounts receivable financing transferred to accounts receivable by the Company at the end of the period
due to failure of the drawer to perform
Not applicable
（6）The Company had no accounts receivable financing actually written off in the period
Not applicable
95Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
5. Accounts receivable
(1) Accounts receivable disclosed by category
In RMB
Closing balance Opening balance
Category Book balance Bad debt provision Book balance Bad debt provision
Book value Book value
Amount Proportion % Amount Proportion % Amount Proportion % Amount Proportion %
Accrual of
bad debt
provision by 0 0% 0 0% 0 0 0% 0 0% 0
single
Of which
Accrual of
bad debt
provision by 7068997560 100% 713856 0.01% 7068283704 7030948863 100% 263506 0.01% 7030685357
portfolio
Of which
Electricity
sales 6974918389 98.67% 0 0% 6974918389 6974790832 99.20% 0 0% 6974790832
receivable
Related party
receivable 22693557 0.32% 0 0% 22693557 32237080 0.46% 0 0% 32237080
Other 71385614 1.01% 713856 1% 70671758 23920951 0.34% 263506 1.10% 23657445
Total 7068997560 100% 713856 0.01% 7068283704 7030948863 100% 263506 0.01% 7030685357
96Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Accrual of bad debt provision by portfolio:0
In RMB
Closing balance
Name
Book balance Bad debt provision Proportion%
Electricity sales receivable 6974918389 0 0%
Total 6974918389 0
Note：
Portfolio 1- Electricity sales receivable，As at 30 June 2022 the amount of receivables from sales of electricityof the Group was RMB6974918389(December 312021：RMB6974790832 ) which was mainly from China
Southern Power Grid Co. Ltd. and its subsidiaries (collectively referred to as “China Southern Power Grid”).Taking into consideration its good credit the Group believes that there is no significant credit risk in the
receivables from sales proceeds of electricity and the possibility of significant losses due to China Southern
Power Grid's default is extremely low. The Group's expected credit loss rate for sales proceeds of electricity is 0%
（December 312021:0%).Accrual of bad debt provision by portfolio:0
In RMB
Closing balance
Name
Book balance Bad debt provision Proportion%
Related party receivable 22693557 0 0%
Total 22693557 0
Note：
Portfolio 2- Related party receivable：As at 30 June 2022 the amount of receivables from related parties of theGroup was RMB22693557（December 312021:RMB32237080) and the historical loss rate was extremelylow. Therefore The Group believes that there is no significant credit risk in the receivables from related parties
and the possibility of significant losses due to their default is extremely low. The Group's expected credit loss ratefor receivables from related parties is 0%.（December 312021:0%).Accrual of bad debt provision by portfolio:0
In RMB
Closing balance
Name
Book balance Bad debt provision Proportion%
Other account receivable 71385614 713856 1%
Total 71385614 713856
Note：
For other fund receivable except Portfolio 1 and Portfolio 2 Bad provision according to the expected credit loss
mode
Relevant information of the provision for bad debts will be disclosed with reference to the disclosure method of
other receivables if the provision for bad debts of bills receivable is accrued according to the general model of
expected credit loss:
For other fund receivable except Portfolio 1 and Portfolio 2
The amount of bad debt provision for accounts receivable in 2022 is RMB 713856 (In 2021: RMB 263506)
and the amount of bad debt provision for accounts receivable reversed this year is RMB 263506 (In 2021:
RMB 292314) the corresponding book balance is RMB 71385614 (In 2021: RMB 23920951) and there is
no bad debt provision for accounts receivable written off this year (In 2021: none).In RMB
97Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Aging Closing balance
Within 1 year（Including 1 year） 6044943339
1-2 years 619045640
2-3 years 304464301
Over 3 years 100544280
3-4 years 99003796
4-5 years 1540484
Total 7068997560
(2) Accounts receivable withdraw reversed or collected during the reporting period
The withdrawal amount of the bad debt provision：
In RMB
Amount of change in the current period
Category Opening Reversed orbalance Closing balanceAccrual collected Write-off Other
amount
Accounts
receivable 263506 713856 263506 713856
Total 263506 713856 263506 713856
(3) The actual write-off accounts receivable
Not applicable
（4） Top 5 of the closing balance of the accounts receivable collected according to the arrears party
In RMB
Name Closing balance Proportion% Bad debt provision
GPGC 6179062978 87.41% 0
GPGCZhanjiang Power
supply Bureau 415947131 5.88% 0
Shenzhen Power supply
Bureau 148580674 2.10% 0
State Grid Xinjiang Electric
Power Co. Ltd. 60277367 0.85% 0
Maoming Power supply
Bureau 43771030 0.62% 0
Total 6847639180 96.86%
（5）Account receivable which terminate the recognition owning to the transfer of the financial assets
Not applicable
(6)The amount of the assets and liabilities formed by the transfer and the continues involvement of accounts
receivable
Not applicable
7.Prepayments
(1) List by aging analysis:
In RMB
Closing balance Opening balance
Aging
Amount Proportion % Amount Proportion %
Within 1 year 1451614259 98% 890361044 99.73%
1-2 years 28190654 1.90% 1256263 0.14%
2-3 years 501647 0.03% 563276 0.06%
Over 3 years 1071758 0.07% 590655 0.07%
98Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Total 1481378318 892771238
Notes of the reasons of the prepayment ages over 1 year with significant amount but failed settled in time
As at June 302022 advances to suppliers aged more than 1 year were RMB29764059( December 312021
RMB2410194) mainly including prepayments for spare parts and materials.
（2）The ending balance of Prepayments owed by the imputation of the top five parties
Name Relationship with Amount Proportion %
the company
Related party
Guangdong Power Industry Fuel Co. Ltd. 816149016 55.09%
Guangdong Zhutou Electric Power fuel Co. Ltd. Third party 322747179 21.79%
Guangdong Energy Group Natural gas Co. Ltd. Related party 102600000 6.93%
Shanghai Boiler Plant Co. Ltd. Third party 60617880 4.09%
Guangdong Energy Insurance Related party 24557339 1.66%
Total 1326671414 89.56%
Other note：
8. Other accounts receivable
In RMB
Items Closing balance Opening balance
Interest receivable 2581384 0
Dividend receivable 0 5633417
Other accounts receivable 952471579 2423842141
Total 955052963 2429475558
（1）Interest receivable
1) Category of interest receivable
In RMB
Items Closing balance Opening balance
Other 2581384
Total 2581384 0
2) Significant overdue interest
Not applicable
3）Bad-debt provision
□ Applicable √ Not applicable
(2)Dividend receivable
1) Category of Dividend receivable
In RMB
Items Closing balance Opening balance
Huaneng Shantou Nanao Wind Power
Generation Co. Ltd. 0 5633417
Total 0 5633417
99Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
2）Dividend receivable of important account age over 1 year
Applicable
3）Bad-debt provision
□ Applicable √ Not applicable
Other note：
（3） Other accounts receivable
1) Other accounts receivable classified by the nature of accounts
In RMB
Nature Closing book balance Opening book balance
Land receivable deposit 302341244 302530718
Current account 209084626 127046011
Supplementary medical insurance fund
receivable 63143818 98784664
Sales of by-products receivable 44609887 95418898
Land receivable deposit 23446000 23446000
Compensation receivable for electricity
charges during the demolition and 15729600 15824336
construction period
Receivable petty cash 4519419 2646600
Government subsidy receivable 4190566 3646053
Terminal assets disposal payment 1347362 1732123164
Other 316790401 60123674
Less：Bad-debt provision -32731344 -37747977
Total 952471579 2423842141
2）Bad-debt provision
In RMB
Stage 1 Stage 2 Stage 3
Expected credit losses
Bad Debt Reserves Expected credit losses Expected credit loss Total
over the next 12 over life (no credit for the entire duration
months impairment) (credit impairmentoccurred)
Balance as at January
120221813149701961648037747977
Balance as at January
1 2022 in current
--Transfer to Stage 3 -1124353 1124353 0
Provision in the current
period 0 10119177 10119177
Turn back in the
current period -15135810 -15135810
Balance as at June
30202218713343086001032731344
Loss provision changes in current period change in book balance with significant amount
□ Applicable √Not applicable
Disclosure by aging
In RMB
Aging Closing balanceWithin 1 year(Including 1 year） 733772881
1-2 years 53769876
2-3 years 153422383
Over 3 years 44237783
3-4 years 25958484
100Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
4-5 years 13579558
Over 5 years 4699741
Total 985202923
3) Accounts receivable withdraw reversed or collected during the reporting period
The withdrawal amount of the bad debt provision：
In RMB
Amount of change in the current period
Category Opening Reversed orbalance Closing balanceAccrual collected Write-off Other
amount
Other
receivable 37747977 10119177 15135810 0 0 32731344
Total 37747977 10119177 15135810 32731344
（4）Other account receivables actually cancel after write-off
Not applicable
(5)Top 5 of the closing balance of the other accounts receivable collected according to the arrears party
In RMB
Bad debt
Name Nature Year-end Aging Portion in total other provisionbalance receivables(%) of year-end
balance
Meixian
Chengjiangzhen Land withdrawal 2-3 yearsPeople's Government receivable 146885400 （Including 3 years) 14.91% 0of Meizhou City
Guangdong Energy Within 1 year
Finance leasing Co. Receivable of Unitcurrent 141953119 （Including 1 14.41% 0Ltd. year）
The People's Within 1 year
Government of Yamen Land withdrawalTown Xinhui District receivable 109094018 （Including 1 11.07% 0Jiangmen City year）
Guangdong Electric Within 1 year
Power Industry Fuel Current payments ofthe receivable unit 96734943 （Including 1 9.82% 0Co. Ltd. year）
Within 1 year
Hunan Fourth Receivable of Unit
Engineering Co. Ltd current 82830000 （Including 1 8.41% 0year）
Total 577497480 58.62% 0
（6）Account receivables with government subsidies involved
In RMB
Name Project name Amount in year-end At the end of aging Estimated timeamount and basis
Withn 1 yearHuilai State Taxation VAT is refunded 3988580 （including 1 yearExpected to be fully
）
Bureau immediately and 1-2 years recovered by June
Including 2 years 2023（ ）
Yunfu City Yuncheng Expected to be fully
District Local Taxation VAT is refunded Withn 1 year
Bureau immediately
201986（including 1 year recovered by June） 2023
101Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(7) Other account receivable which terminate the recognition owning to the transfer of the financial assets
Not applicable
(8) The amount of the assets and liabilities formed by the transfer and the continues involvement of other accounts
receivable
Not applicable
9. Inventories
Whether the company need to comply with the disclosure requirements of the real estate industry
No
（1）Category of Inventory
In RMB
Closing book balance Opening book balance
Provision for Provision for
Items
Book balance inventory Book value Book balance inventory Book value
impairment impairment
Raw materials 2232672860 0 2232672860 2189710739 0 2189710739
Parts 882980813 34044608 848936205 817710542 34044608 783665934
Other 54156730 0 54156730 25517866 0 25517866
Total 3169810403 34044608 3135765795 3032939147 34044608 2998894539
(2) Inventory depreciation reserve
In RMB
Items Beginning of
Increased in current period Decreased in current period Year-end
term Provision Other Transferredback Other
balance
Raw materials 0 0
Parts 34044608 0 0 0 0 34044608
Total 34044608 34044608
(3) Explanation on inventories with capitalization of borrowing costs included at ending balance
Not applicable
(4) Assets unsettled formed by construction contract which has completed at period-end
Not applicable
10.Contract assets
In RMB
Year-end balance Opening balance
Items
Book balance Bad debtprovision Book value Book balance
Bad debt
provision Book value
Contract assets
of third parties 1040486 11042 1029444 1588425 21889 1566536
Contract assets
of related 14816 0 14816 3188284 0 3188284
parties
Total 1055302 11042 1044260 4776709 21889 4754820
102Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
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
Items
Year-end balance Year-beginning balance
VAT to be deducted 811168428 1238295329
Advance payment of income tax 48714741 174867263
Carbon emission rights assets 360998 295315
Other 17125397 4527701
Total 877369564 1417985608
Other note：
14.Creditor's right investment
Not applicable
15.Other creditor's rights investment
Not applicable
16. Long-term accounts receivable
Not applicable
103Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
17. Long-term equity investment
In RMB
Increase /decrease
Profits and
losses on Closing
Investees Opening investments Other Changes
Cash bonus Withdrawal Closing balance of
balance Additional Decrease in
investment investment Recognized comprehensive in other
or profits of Other balance impairment
under the income equity announced impairment provision
equity to issue provision
method
I. Joint ventures
Guangdong
Electric
Industrial Fuel 645470514 37073725 682544239 0
Co. Ltd.Zhanjiang
Yuexin Energy
Technology 9350000 -613360 8736640 0
Co.Ltd.Subtotal 654820514 36460365 691280879 0
II. Associates
Shanxi Yudean
Energy Co. 2363177253 278866588 2642043841
Ltd.Guangdong
Guohua
Yudean
Taishan Power 1784468086 54702379 1839170465
Generation
Co. Ltd.Energy Group
Finance 1666774664 81479824 123894709 1624359779
Company
Guangdong
Energy
Financing 532306787 15729399 18292179 529744007
Leasing Co.Ltd.
104Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Yudean
Captive 276532777 7432402 2426770 281538409
Yudean
Shipping 247954895 5884591 253839486
South
Offshore Wind
Power Joint 167812207 16177560 183989767
Development
Co. Ltd.Guizhou
Yueqian
Electric Power 161325870 21836633 183162503
Co. Ltd.Yunnan
Nengtou
Weixin Energy 138810051 -22193510 116616541 96327854
Co. Ltd.Huaneng
Shantou Wind
Generation 54182291 7556737 61739028
Co. Ltd.Funfu Power
GenerationPlant（B 9596285 -4931388 4664897 20819280Plant）
Co.Ltd.Other 14446670 -73685 14372985
Subtotal 7417387836 462467530 144613658 7735241708 117147134
Total 8072208350 498927895 144613658 8426522587 117147134
105Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
18. Other equity instruments investment
In RMB
Items Closing balance Opening balance
Shenzhen Energy Co. Ltd. 96919200 122472000
Shanghai Shenergy Group 315423180 409272682
GMG International Tendering Co. Ltd. 10296000 15984000
Shenzhen Capital Group Co. Ltd. 1030000000 1030000000
Sunshine Insurance Group Co. Ltd. 1653500000 1653500000
Gaozhou Yawu Hydropower Co. Ltd 800000 800000
Xinjiang Yuejian Nengxin Energy
Equipment Co. Ltd. 2000000 0
Total 3108938380 3232028682
Itemized disclosure of the current non - trading equity instrument investment
In RMB
Amount of Reasons forbeing measured Reasons forother at fair value and otherRecognized
Name dividend Accumulating Accumula
comprehensiv whose changes comprehensive
income gains ting losses
e income income
transferred to are included inother transferred toretained retained
earning comprehensiveincome earnings
Shenzhen Energy Co. Consideration of
Ltd. 2646000 81028572 strategic Not applicableinvestments
Shanghai Shenergy Consideration of
Group 0 79585192 strategic Not applicableinvestments
GMG International Consideration of
Tendering Co. Ltd. 594000 6696000 strategic Not applicableinvestments
Shenzhen Capital Group Consideration of
Co. Ltd. 34416139 701966000 strategic Not applicableinvestments
Sunshine Insurance Consideration of
Group Co. Ltd. 52500000 1297500000 strategic Not applicableinvestments
Gaozhou Yawu Consideration of
Hydropower Co. Ltd 0 0 strategic Not applicableinvestments
Xinjiang Yuejian Nengxin Consideration of
Energy Equipment Co. 0 0 strategic Not applicable
Ltd. investments
Other note：
(a) As at 31 June 2022 the Company held 15120000 tradable A shares in Shenzhen Energy with fair value of
RMB96919200 and the investment cost was RMB15890628. The investment was stated at fair value with
reference to the market price. During the year gains at fair value amounted to RMB25552800 (2021:income of
RMB3039120) and other comprehensive income was adjusted upwards accordingly.(b) As at 30 June 2022 the Company held 55532250 tradable A shares in Shanghai Shenergy with fair value of
RMB315423180 and the investment cost was RMB 235837988. The investment was stated at fair value with
reference to the market price. During the year gains at fair value amounted to RMB93849502 (2021:income of
RMB 119394337) and other comprehensive income was adjusted upwards accordingly.(c) As at 30 June 2022 the Company held 1800000 shares of GMG International Tendering Co. Ltd. traded at
the National Equities Exchange and Quotations system with fair value of RMB 10296000 and the investment
cost was RMB 3600000. The investment was stated at fair value with reference to the market price. During the
year gains at fair value amounted to RMB3600000 (2021:income of RMB4356000) and other comprehensive
106Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
income was adjusted upwards accordingly.(d) As at 30 June 2022 the Company held A shares in Shenzhen Capital Group Co. Ltd. with fair value of
RMB1030000000 and the investment cost was RMB 328034000. In this year there was no change in the fair
value of the equity investment (in 2021 the income from fair value measurement was RMB 328034000).(e) As at 30 June 2022 the Company held A shares in Sunshine Insurance Company. with fair value of
RMB1653500000 and the investment cost was RMB 356000000. In this year there was no change in the fair
value of the equity investment (in 2021 the income from fair value measurement was RMB328034000).In 2021
(f) On May 31 2022 The Group participated in the investment and establishment of Xinjiang Yuejianeng New
Energy Equipment Co. Ltd and held 10% of its equity which did not have a significant impact on Xinjiang
Yuejianeng New Energy Equipment Co. Ltd and it’s accounted for as an investment in other equity
instruments.
19.Other non-current assets
Not applicable
20. Investment property
(1) Investment property adopted the cost measurement mode
√Applicable □ Not applicable
In RMB
House Construction in
Items Building Land use right process Total
I. Original price
1. Balance at period-beginning 508730777 46042801 554773578
2.Increase in the current period
(1) Purchase
(2)Inventory\Fixed
assets\ Transferred from construction in progress
(3)Increased of Enterprise Combination
3.Decreased amount of the period
（1）Dispose
（2）Other out
4. Balance at period-end 508730777 46042801 554773578
II.Accumulated amortization
1.Opening balance 164834616 11142030 175976646
2.Increased amount of the period 4216942 451829 4668771
(1) Withdrawal 4216942 451829 4668771
3.Decreased amount of the period
（1）Dispose
（2）Other out
4. Balance at period-end 169051558 11593859 180645417
III. Impairment provision
1. Balance at period-beginning
2.Increased amount of the period
(1) Withdrawal
107Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
3.Decreased amount of the period
（1）Dispose
（2）Other out
4. Balance at period-end
IV.Book value
1.Book value at period -end 339679219 34448942 374128161
2.Book value at period-beginning 343896161 34900771 378796932
(2) Investment property adopted fair value measurement mode
□ Applicable √Not applicable
(3) Investment real estate without certificate of ownership
In RMB
Items Book balance Reason
Land use right 837089 Temporarily in the government approvedstage
Other note
On June 30 2022 after consulting the Group's legal advisers the management believed that there would be no
substantive legal obstacles to the handling of these property certificates and would not have a significant adverse
impact on the normal operation of the Group.
21. Fixed assets
In RMB
Items Closing balance Opening balance
Fixed assets 60797454340 57047122802
Disposal of fixed assets 118591969 97976621
Total 60916046309 57145099423
(1) List of Fixed assets
In RMB
Items House and Generation Otherbuilding equipment Transportations equipment Total
I. Original price
1. Balance at period-beginning 30461761423 89377001367 662435852 1477718227 121978916869
2.Increase in the current period 2251029307 5904867627 26431074 54235303 8236563311
(1) Purchase 27731401 8678103 4513367 15266527 56189398
（2） Transferred from constr 406208693 5896189524 16478984 26599948 6345477149
uction in progress
(3)Increased of Enterprise
Combination
Other 1817089213 5438723 12368828 1834896764
3.Decreased amount of the
period 40236243 2358728826 7628513 22557544 2429151126
（1）Dispose 35308385 189625053 7628513 22557544 255119495
Other 4927858 2169103773 2174031631
4. Balance at period-end 32672554487 92923140168 681238413 1509395986 127786329054
II. Accumulated depreciation
1.Opening balance 11937538940 50281958185 477541422 1064855631 63761894178
2.Increased amount of the
period 402193227 1852140591 13889964 70125347 2338349129
(1) Withdrawal 402193227 1852140591 13889964 70125347 2338349129
108Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
3.Decreased amount of the
period 30083911 197691749 7271057 18973686 254020403
（1）Dispose 30083911 197691749 7271057 18973686 254020403
4.Closing balance 12309648256 51936407027 484160329 1116007292 65846222904
III. Impairment provision
1.Opening balance 236527567 932674173 422918 275233 1169899891
2.Increase in the reporting
period
（1）Withdrawal
3.Decreased amount of the
period 27172184 75897 27248081
（1）Dispose 27172184 75897 27248081
4. Closing balance 236527567 905501989 422918 199336 1142651810
IV. Book value
1.Book value of the period-end 20126378664 40081231152 196655166 393189358 60797454340
2.Book value of the period-
begin 18287694916 38162369009 184471512 412587363 57047122800
(2) List of temporarily idle fixed assets
Not applicable
(3) Fixed assets leased in the operating leases
In RMB
Items End book value
House and Building 23234030
(4) Fixed assets without certificate of title completed
In RMB
Items Book value Reason
House and Building 880935932 Temporarily in the government approvedstage
Other note
On June 30 2022 after consulting the Group's legal advisers the management believed that there would be no
substantive legal obstacles to the handling of these property certificates and would not have a significant adverse
impact on the normal operation of the Group.
（5）Liquidation of fixed assets
In RMB
Items Closing balance Opening balance
Parts of power generation equipment
have been scrapped 96103927 93602122
Other equipment 20506124 4374501
House and Building 1981918 0
Total 118591969 97976623
22. Construction in progress
In RMB
Items Closing balance Opening balance
Construction in progress 5744084734 8707685035
Engineering Material 701453 3006730
109Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Total 5744786187 8710691765
(1) List of construction in progress
In RMB
Closing balance Opening balance
Items
Book balance Provision forimpairment Book value Book balance
Provision for
impairment Book value
Huadu thermal
and power
cogeneration 754058757 754058757 1054889800 1054889800
project
Yangjiang
Qingzhou first and
second offshore 619216851 619216851 27475458 27475458
wind power
project
Xinjiang 45
regiment 400000
kw photovoltaic 578682830 578682830
project
Wuxuan Hequn
Plant Project 418971546 418971546 413866414 413866414
Xupu Wind Power
Plant Project 416526856 416526856 402999870 402999870
Shajiao Ningzhou
gas power project 385500115 385500115 253652368 253652368
Hunan Tongdao
Dagaoshan wind
power plant 365892846 365892846 320622385 320622385
project
Nanxiong Zhu’an
Village Project 250857650 250857650 206297283 206297283
Zhaoqing Dinghu
Natural Gas
Thermal Power 214239029 214239029 120337569 120337569
Cogeneration
Project
Pingyuan Sishui
Wind Power 177796416 177796416 90553055 90553055
Project
Yangjiang Shapa
offshore wind 4417942531 4417942531
power project
Zhuhai Jinwan
Electric offshore
wind power 46919720 46919720
project
Other
infrastructure
construction 1036289812 272760362 763529450 767062565 272760362 494302203
projects
Other technology
improvement 807442698 8630310 798812388 866456689 8630310 857826379
projects
Total 6025475406 281390672 5744084734 8989075707 281390672 8707685035
110Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(2) Changes of significant construction in progress
In RMB
Including：
Amount at Capitalisatio
Name Budget year Increase at
Transferred
to fixed Other Balance in Proportion(
Progres n of interest Current Capitalisatio
this period decrease year-end %) s of accumulated amount of n of interest
Source
beginning assets work balance capitalizatio ratio
of funds
（%)n of interest
Huadu
thermal and
power 359316000 105488980
Financial
0 0 118115491 418946534 754058757 99.55% 32.69% 38456114 17667366 3.94% institutiocogeneratio n loan
n project
Yangjiang
Qingzhou
first and
second 171072500
Financial
00 27475458 591741393 619216851 3.62% 3.05% 4828488 4797322 3.33% institutiooffshore n loan
wind power
project
Xinjiang 45
regiment
400000 kw 202216300
Financial
0 578682830 578682830 28.62% 28.62% 162361 162361 3.20% institutiophotovoltai n loan
c project
Wuxuan
Hequn Financial
Plant 482580000 413866414 5105132 418971546 86.82% 99.50% 12018832 institutio
Project n loan
Xupu Wind Financial
Power Plant 464185841 402999870 13526986 416526856 89.73% 99% 12289713 institutio
Project n loan
Shajiao
Ningzhou 592760000 Financial
gas power 0 253652368 131847747 385500115 6.52% 27.75% 23183810 15532218 3.36% institutio
project n loan
Hunan
Tongdao
Dagaoshan Financial
wind power 531740000 320622385 45270461 365892846 68.58% 98% 9716266 institutio
plant n loan
project
Nanxiong Financial
Zhu’an 451810000 206297283 44560367 250857650 55.52% 55.52% 2719293 institutio
Village n loan
111Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Project
Zhaoqing
Dinghu
Natural Gas Financial
Thermal 299818000 120337569 93901460 214239029 7.15% 15.72% 11824287 7113966 3.85% institutio
Power 0 n loan
Cogeneratio
n Project
Pingyuan
Sishui Wind Financial
Power 338470000 90553055 87243361 177796416 52.53% 52.53% 7079097 institutio
Project n loan
Yangjiang
Shapa
offshore 596327000 441794253 114980141 556774394
Financial
0 1 6 7 93.37% 99% 192996300 36934127 3.79% institutiowind power n loan
project
Zhuhai
Jinwan
Electric 564317000 Financial
offshore 0 46919720 46919720 74.47% 100% 120150149 institutio
wind power n loan
project
Other
infrastructu 3383672 Financialre 494302203 310765561 7701585 9 763529450 29309349 9204453 institutioconstructio n loan
n projects
Other
technology 2116713 Financial
improveme 857826379 266318502 304165363 0 798812388 1335162 institutio
nt projects n loan
Total 455235788 870768503 343688070 634547714 5500385 57440847341 5 7 9 9 4 466069221 91411813
112Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(3) List of the withdrawal of the impairment provision of the construction in progress
Not applicable
（4）Engineering material
In RMB
End of term Beginning of term
Items
Book balance Provision forimpairment Book value Book balance
Provision for
impairment Book value
Special
Material 671117 671117 18162 18162
Special
equipment 30336 30336 2988568 0 2988568
Total 701453 701453 3006730 3006730
Other note
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
24. Oil and gas assets
□ Applicable √ Inapplicable
25. Right to use assets
In RMB
Items House and buildings Machinery equipment Transportationequipment Total
I. Original price
1.Opening balance 59726188 5800549982 8434545 5868710715
2.Increased amount
of the period 4725713 45680916 0 50406629
（1）New lease
contracts 4725713 45680916 0 50406629
3. Decreased
amount of the period 359953 0 2121343 2481296
Early termination of
the lease contract 359953 0 2121343 2481296
4.Closing balance 64091948 5846230898 6313202 5921598640
II. Accumulated
depreciation
1.Opening balance 17358410 593074160 2153166 612585736
2.Increased amount of
the period 10185749 120996849 341818 131524416
（1）Withdrawal 10185749 120996849 341818 131524416
3.Decreased amount 96094 0 0 96094
of the period
(1)Disposal 96094 0 0 96094
113Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
4.Closing balance 27448065 714071009 2494984 744206246
III. Impairment
provision
1.Opening balance
2.Increased amount of
the period
（1）Withdrawal
3.Decreased amount
of the period
(1)Disposal
4.Closing balance
IV. Book value
1.Closing book value 36643883 5132159889 3818218 5172621990
2.Opening book 42367778 5207475822 6281379 5256124979
114Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
26. Intangible assets
(1) Information
In RMB
Transmission
Items Land use right Patent Non-patent
and Non-patent
Technology Software Sea use right Transformatio
Favorable technology Total
n Supporting contract and others
Project
I. Original price
1. Balance at period-beginning 3066424473 214052599 89256779 260331315 52211380 39503199 3721779745
2.Increase in the current
period 29486784 24927832 57851340 0 0 825908 113091864
(1) Purchase 240673 7396928 0 0 0 3900 7641501
（2）Internal R & D 0 2662089 0 0 0 822008 3484097
（3）Increased of Enterprise
Combination 0 0 0 0 0 0 0
（4）Transfer of projects
under construction 0 86792 0 0 0 0 86792
（5）Other 29246111 14782023 57851340 0 0 0 101879474
3.Decreased amount of the
period 9445665 9445665 3622305 0 0 418044 13486014
（1）Dispose 9445665 9445665 3622305 0 0 418044 13486014
4. Balance at period-end 3086465592 235358126 147108119 260331315 52211380 39911063 3821385595
II.Accumulated amortization
1. Balance at period-beginning 550473973 138064496 25163983 260331315 3085641 29431618 1006551026
2. Increase in the current
period 31641289 8956466 829849 0 2130766 855459 44413829
(1) Withdrawal 31641289 8956466 829849 0 2130766 855459 44413829
3.Decreased amount of the
period 363303 3631618 0 0 0 418044 4412965
（1）Dispose 363303 3631618 0 0 0 418044 4412965
4. Balance at period-end 581751959 143389344 25993832 260331315 5216407 29869033 1046551890
III. Impairment provision
1. Balance at period-beginning 56502373 0 0 0 0 0 56502373
2. Increase in the current 0 0 0 0 0 0 0
115Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
period
(1) Withdrawal 0 0 0 0 0 0 0
3.Decreased amount of the
period 0 0 0 0 0 0 0
（1）Dispose 0 0 0 0 0 0 0
4. Balance at period-end 56502373 0 0 0 0 0 56502373
4. Book value
1.Book value at period -end 2448211260 91968782 121114287 0 46994973 10042030 2718331332
2.Book value at period-
beginning 2459448127 75988103 64092796 0 49125739 10071581 2658726346
The intangible assets by the end of the formation of the company's internal R & D accounted 0.13% of the proportion of the balance of intangible assets
116Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
（2）Details of Land use right failed to accomplish certification of property
In RMB
Items Book value Reason
Land use right 23253800 The procedures have not been completed
On June 30 2022 after consulting the Group's legal advisers the management believed that there would be no
substantive legal obstacles to the handling of these property certificates and would not have a significant adverse
impact on the normal operation of the Group.
27. Development expenditure
Not applicable
28. Goodwill
(1) Original book value of goodwill
In RMB
Name of the investees or Opening
the events formed goodwill balance Increase Decrease Closing balance
Name of the investees or Opening The merger of
the events formed goodwill balance enterprises disposition Closing balance
Guangdong Wind Power
Generation Co. Ltd. 2449886 2449886
Lincang Company 25036894 25036894
Tumushuke Thermal Power
Co. Ltd. 119488672 119488672
Guangdong Guangye
Nanhua New Energy 6158995 0 6158995
Guangdong Yueneng
Datang New Energy 11885484 0 11885484
Total 165019931 0 165019931
（2）Impairment provision of goodwill
In RMB
Name of the investees or the Increase Decrease
events formed goodwill Opening balance Provisio Closing balance
n disposition
Lincang Yudean New Energy -25036894 -25036894
Total -25036894 -25036894
Relevant information about the asset group or asset group combination in which goodwill resides
Describe the goodwill impairment test process key parameters (e.g. forecast period growth rate stable period
growth rate profit margin discount rate and forecast period when forecasting the present value future cash flow)
and the recognition method of goodwill impairment loss
Impact of goodwill impairment test
29.Long-term amortization expenses
In RMB
Items Balance in year- Increase at this Amortization Balance in year-begin period balance Other decrease end
117Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Improvement of
use right assets 7965121 9536573 1690795 52161 15758738
Other 22370180 682575 1597572 7890357 13564826
Total 30335301 10219148 3288367 7942518 29323564
Other note
30.Deferred income tax assets/deferred income tax liabilities
(1)Details of the un-recognized deferred income tax assets
In RMB
Balance in year-end Balance in year-begin
Items Deductible temporary Deferred income tax Deductible temporary Deferred income tax
difference assets difference assets
Provision for asset
impairments 444970447 109844598 444961087 109842258
Intra-group
transactions 788087796 197021947 685896928 171474232
Deductible losses 4519387165 1042629291 3189847440 758900259
Net income from test
run included in
construction in 221802480 55312142 221802480 55312140
progress
Employee benefits
payable 281069135 67066144 305163061 73089625
Depreciation of fixed
assets 74112288 18528072 74881083 18720271
Government grants 73836482 17900898 95459260 23306593
Amortization of
intangible assets 7078023 1769506 4028407 1007101
Total 6410343816 1510072598 5022039746 1211652479
(2)Details of the un-recognized deferred income tax liabilities
In RMB
Balance in year-end Balance in year-begin
Items Temporarily Temporarily
Deductable or Taxable Deferred Income Taxliabilities Deductable or Taxable
Deferred Income Tax
Difference Difference liabilities
Non-same control
enterprise merger
assets evaluation and 253339530 63334882 272521240 68130309
appreciation
Changes in fair value
of other equity
instruments included in 2123359112 530839778 2291866066 572966517
other comprehensive
income
Net expenses in trial
operation included in
construction in 78859322 19714830 89727430 22431857
progress
Amortization of land
use rights 26553547 6638387 15685439 3921360
Interest receivable 10063591 2515896 10071856 2517964
Depreciation of fixed
assets 2388981 597247 2388981 597247
Total 2494564083 623641020 2682261012 670565254
118Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(3) Deferred income tax assets or liabilities listed by net amount after off-set
In RMB
Trade-off between the End balance of Trade-off between the Opening balance of
Items deferred income tax deferred income tax deferred income tax deferred income tax
assets and liabilities assets or liabilities after assets and liabilities at assets or liabilities afteroff-set period-begin off-set
Deferred income tax
assets 26564501 1483508097 34810493 1176841986
Deferred income
liabilities 26564501 597076519 34810493 635754761
(4)Details of income tax assets not recognized
In RMB
Items Balance in year-end Balance in year-begin
Deductible temporary difference 1873007383 1839401194
Deductible loss 7468766931 5808689992
Total 9341774314 7648091186
(5)Deductible losses of the un-recognized deferred income tax asset will expire in the following years
In RMB
Year Balance in year-end Balance in year-begin Remark
20220679470193
2023801754681810630290
2024161611109173024661
2025588155609598674880
202635468899683546889968
20272370355564
Total 7468766931 5808689992
31. Other non-current assets
In RMB
Balance in year-end Balance in year-begin
Items Book balance Provision for Book value Book balance Provision for Book value
devaluation devaluation
Prepayments
for equipment 1437684782 1437684782 479516879 479516879
fund
Prepayments
for construction 1706557290 1706557290 1619048497 1619048497
fund
Input VAT to be
deducted 1280759980 1280759980 2207784437 2207784437
Prepayment for
land use rights 177544721 177544721 166211424 166211424
Unrealised
losses on sale 196168230 196168230 196168230 196168230
and lease back
Prepayment for
equity 80000000 80000000 80000000 80000000
acquisition
Prepayments
for purchase of 58318764 58318764 58318764 58318764
buildings
119Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Other 48350725 48350725 3203403 3203403
Total 4985384492 4985384492 4810251634 4810251634
32. Short-term borrowings
(1) Category of short-term borrowings
In RMB
Items Closing balance Opening balance
Guarantee loans 108457861 297347896
Credit loans 15593683120 12062948533
Total 15702140981 12360296429
(2) List of the short-term borrowings overdue but not return
Not applicable
33. Transactional financial liabilities
Not applicable
34. Derivative financial liability
Not applicable
35.Notes payable
In RMB
Items Closing balance Opening balance
Commercial acceptance 301300000 180000000
Bank acceptance bills 1580246000 1728780000
Total 1881546000 1908780000
Amount due in next fiscal period is RMB0.00.
36. Accounts payable
(1) List of accounts payable
In RMB
Items Closing balance Opening balance
Fuel payable and freight payable 3022286040 4847384749
Materials and spare parts payable 504338824 501756882
Management fees payable for frequency
modulation and energy storage 0 319986
Other 1279228638 1277105447
Total 4805853502 6626567064
（2）Significant accounts payable that aged over one year
In RMB
Items Closing balance Opening balance
Fuel payable and freight payable 48461795 Not yet settled
Total 48461795
Other note：
120Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
As at 30 June 2022 accounts payable with ageing over one year amounted RMB48461795 ( December 31，
2021: RMB51399876) mainly unsettled fuel payable
37. Advance from customers
Not applicable
38.Contract Liabilities
In RMB
Items Closing balance Opening balance
Advances from services 16111584 5146636
Advances from others 1049300 718175
Total 17160884 5864811
39.Payable Employee wage
(1) List of Payroll payable
In RMB
Items Balance in year-begin Increase in this period decrease in this period Balance in year-end
1.Short-term 348069102 1082065412 918141778 511992736
compensation
2.Post-employment
benefits - defined 3092268 161508024 157711765 6888527
contribution plans
3.Dismissal welfare 62450865 18765861 21413641 59803085
4. Other benefits due
within one year 8400995 74391 5559274 2916112
5.Other 1877896 1487449 390447
Total 422013230 1264291584 1104313907 581990907
（2）Short-term remuneration
In RMB
Items Balance in year- Increase in this decrease in this Balance in year-endbegin period period
1.Wages bonuses allowances and
subsidies 11143810 771421234 608742621 173822423
2.Employee welfare 5035644 71028662 61201030 14863276
3. Social insurance premiums 184406723 84550988 115388269 153569442
Including：Medical insurance 184406603 81562912 112437459 153532056
Work injury insurance 120 1632910 1615886 17144
Maternity insurance 0 1355166 1334924 20242
4. Public reserves for housing 4800 88258232 84300838 3962194
5.Union funds and staff education
fee 140396647 30586153 27020016 143962784
Other short-term remuneration 7081478 36220143 21489004 21812617
Total 348069102 1082065412 918141778 511992736
（3）Defined contribution plans listed
In RMB
Items Balance in year-begin Increase in this period Payable in this period Balance in year-end
1. Basic old-age
insurance premiums 4800 102030843 101466579 569064
2.Unemployment
insurance 150 2353869 2326899 27120
121Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
3. Annuity payment 3087318 57123312 53918287 6292343
Total 3092268 161508024 157711765 6888527
Other note：
40.Tax Payable
In RMB
Items Closing balance Opening balance
VAT 22649535 145874436
Consumption tax 0 0
Enterprise Income tax 31567592 91420743
Individual Income tax 1255925 29777458
City Construction tax 2014520 16340357
House property Tax 33556849 77307640
Land use tax 9284683 21588871
Education surcharges 1554497 12684138
Environmental protection tax payable 1266837 8946714
Water resource fee 2080803 3837196
Other 85042547 94525522
Total 190273788 502303075
41.Other payable
In RMB
Items Closing balance Opening balance
Interest payable 0 0
Dividend payable 9771322 9771322
Other payable 9943969579 10559992456
Total 9953740901 10569763778
（1） Interest payable
Not applicable
（2）Dividends payable
In RMB
Items Closing balance Opening balance
Common stock dividends 9771322 9771322
Preferred stock \ perpetual debt dividend
divided into equity instruments 0 0
Other 0 0
Total 9771322 9771322
Note: Including significant unpaid dividends payable over one year the unpaid reason shall be disclosed:
This part of dividends is mainly payable to shareholders of non-tradable shares who have not gone through the
formalities of share-trading reform. This part of dividends will be paid after the formalities are completed.
122Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
（3）Other payable
（1）Disclosure by nature
In RMB
Items Closing balance Opening balance
Construction and equipment expenses
payable 6900313767 7210562333
Equity acquisition payable 2240000000 2501436910
Engineering quality guarantee payable 83482425 228942252
State Oceanic and Fisheries
Administration penalty payable 11531700 11531700
Other 708641687 607519261
Total 9943969579 10559992456
(2) Other payables with large amount and aging of over one year
In RMB
Items Closing balance Reason
Other payable 682258828 Failure to meet payment terms
Total 682258828
Other note
Mainly used to cope with project funds and retention money. Since the project has not finished the project and
acceptance and final settlement or in the warranty period of acceptance the project funds and retention money has
not been settled.
42. Liabilities classified as holding for sale
Not applicable
43.Non-current liabilities due within 1 year
In RMB
Items Closing balance Opening balance
Long-term loans due in 1 year 2480232011 2705229515
Bond payable due in 1 year 134538212 121526171
Long-term Account payable due in 1
year 0
Lease liabilities due in 1 year 806536416 870864067
Total 3421306639 3697619753
44. Other current-liabilities
In RMB
Items Closing balance Opening balance
Short-term bond payable 2709891288 1007871233
Output VAT to be written off 650593197 650577773
Total 3360484485 1658449006
Changes in short-term debentures payable：
In RMB
IssuanceMaturity Issuance Balance at the Issuance Interest at Amortizatio Repayment BalanceName Face value date period amounts beginning of during thethe year year face value
n of
discounts or for the period
at the end
of the
123Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
premium year
Second batch
of super
short-term
financing
notes issued
by 10000000002021-8- 178Guangdong 23 days 10000000001007871233 0 2906301 01010777534 0
Electric
Power
Development
Co. Ltd.
2021
First batch of
super short-
term 12000000002022-2- 178 120898financing 14 days 1200000000 01200000000 8987178 0 0 7178
notes issued
2022
Second batch
of super
short-term
financing 1500000000
2022-6-178
16 days 1500000000 01500000000 904110 0 0
150090
4110
notes issued
2022
Total 37000000001007871233270000000012797589 01010777534 2709891288
45.Long-term borrowings
（1）Long-term term borrowings
In RMB
Items Closing balance Opening balance
Pledged borrowings 5632712443 5616063684
Mortgage borrowings 0
Guarantee loan 1631472114 1599700000
Credit loans 24383224083 21724814172
Total 31647408640 28940577856
46.Bond payable
（1）Bond payable
In RMB
Items Closing balance Openingbalance
Public Issuance of Corporate Bonds to Qualified Investors in 2020 (Phase I) by Guangdong
Electric Power Development Co. Ltd. 1499701402 1499648572
Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase I) by Guangdong
Electric Power Development Co. Ltd. 999943396 999924528
Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase II) by Guangdong
Electric Power Development Co. Ltd. 1499872642 1499855660
Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase I) by Guangdong
Huizhou Pinghai Power Generation Co. Ltd. 799672956 799635220
2021 MTN (Phase I) of Guangdong Electric Power Development Co. Ltd. 1198834594 1198296858
2021 MTN (Phase II) of Guangdong Electric Power Development Co. Ltd. 2197179730 2196588222
Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase I) by Guangdong
Huizhou Pinghai Power Generation plant Co. Ltd. 199951059 199921484
124Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
299357535299212878
2021 MTN (Phase I)of Guangdong Huizhou Pinghai Power Generation plant Co. Ltd
Total 8694513314 8693083422
125Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
（2）Changes of bonds payable(Not including the other financial instrument of preferred stock and perpetual capital securities that classify as financial liability
In RMB
The
Name of the bond Face value Issue date Period Issue amount Opening current Withdraw interest
Overflow Pay in
balance at par discount current
Closing
issue amount period balance
Public Issuance of
Corporate Bonds to
Qualified Investors in 2020
(Phase I) by Guangdong 1500000000 2020-4-29 3+2 years 1500000000 1499648572 0 18375000 -52830 0 1499701402
Electric Power
Development Co. Ltd.Public Issuance of
Corporate Bonds to
Qualified Investors in 2021
(Phase I) by Guangdong 1000000000 2021-1-27 3 years 1000000000 999924528 0 17850000 -18868 0 999943396
Electric Power
Development Co. Ltd.Public Issuance of
Corporate Bonds to
Qualified Investors in 2021
(Phase II) by Guangdong 1500000000 2021-4-28 3+2 years 1500000000 1499855660 0 26250000 -16982 0 1499872642
Electric Power
Development Co. Ltd.Public Issuance of
Corporate Bonds to
Qualified Investors in 2021
(Phase I) by Guangdong 800000000 2021-11-24 5 years 800000000 799635220 0 13640000 -37736 0 799672956
Huizhou Pinghai Power
Generation Co. Ltd.
2021 MTN (Phase I) of
Guangdong Electric Power 1200000000 2021-7-19 3 years 1200000000 1198296858 0 19020000 -537736 0 1198834594
Development Co. Ltd.
2021 MTN (Phase II) of
Guangdong Electric Power 2200000000 2021-11-15 3 years 2200000000 2196588222 0 34430000 -591508 0 2197179730
Development Co. Ltd.Public Issuance of
Corporate Bonds to
Qualified Investors in 2021
(Phase I) by Guangdong 200000000 2021-6-4 2 years 200000000 199921484 0 3570000 -29575 0 199951059
Huizhou Pinghai Power
Generation plant Co. Ltd.
300000000 2021-10-15 3 years 300000000 299212878 0 5580000 -144657 0 299357535
2021 MTN (Phase I)of
126Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Guangdong Huizhou
Pinghai Power Generation
plant Co. Ltd
Total —— 8700000000 8693083422 0 138715000 -1429892 0 8694513314
127Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(3) Note to conditions and time of share transfer of convertible bonds
Not applicable
（4）Other financial instruments that are classified as financial liabilities
Not applicable
47. Lease liability
In RMB
Items Closing balance Opening balance
Net lease liabilities 5038032075 4728167142
Total 5038032075 4728167142
Other note
48. Long-term payable
In RMB
Items Closing balance Opening balance
Long-term payable 99412257 96819223
Special payable 24960000 24960000
Total 124372257 121779223
(1) Long-term payable listed by nature of the account
In RMB
Items Closing balance Opening balance
Payment for desulfurization works 99412257 96819223
（2）Specific payable
In RMB
Items Opening balance Increase Decrease Closing balance Cause
Supporting funds
for expansion 24960000 24960000
Total 24960000 24960000
Other note：
(i) The payables for specific projects represent the fund granted for benefits improvement and capacity expansion
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. (Yun Shui Tou Fa [2015] No.
16) such payables for specific project were subject to an interest rate of 4% from 1 January 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
Items Closing balance Opening balance
I. Short-term compensation 97367659 91696972
II.Post-employment benefits -
defined contribution plans 246020763 280626572
128Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
III. Dismissal benefits 38407535 43156718
Total 381795957 415480262
(2) Changes of defined benefit plans
Not applicable
50.Predicted liabilities
Not applicable
51.Deferred income
In RMB
Items Beginning of term Increased this term Decreased thisterm End of term Reason
Government Asset-related
Subsidy 163611515 500000 6345576 157765939 government grantsreceived
Total 163611515 500000 6345576 157765939 --
Details of government subsidies：
In RMB
New Amount Other Amount oftransferred income cost Asset-
Items Beginning subsidy inof term current to non- recorded in deducted in
Other End of term related or
operational the current the current changes income-period income period period related
Compensat
ion for
relocation
and
renovation 11122717 0 0 0 0 0 11122717 Related to
of Shajiao assets
A Zhenkou
pump
house
Special
funds for
#1-#3
generators’ 15107198 0 0 651784 0 0 14455414
Related to
assets
desulfurizat
ion project
Energy
saving 12407220 0 0 821456 0 0 11585764 Related to
grants assets
Tax refund
for PRC- 8036728 0 0 0 0 0 8036728 Related tomade assets
equipment
Environme
ntal grants
for SCR 7559528 0 0 882308 0 0 6677220 Related to
denigration assets
project
Provincial
special
funds for
enterprises’ 7707105 0 0 1140618 0 0 6566487 Related to
technology assets
improveme
nt
129Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
1&2#
generator
units 6923077 0 0 0 0 0 6923077 Related toturbine by assets
Zhongyue
Energy
Second
incentives
for
comprehen
sive and
typical
demonstrati 6300000 0 0 450000 0 0 5850000 Related to
on projects assets
under
financial
policies of
energy
saving
Developme
nt and
competitive Related to
ness funds 6000000 0 0 0 0 0 6000000 assets
from
SASAC
Post
rewarding
subsidies
for ultra-
low 5012766 0 0 0 0 0 5012766
Related to
assets
emissions
of 1&2#
generators
Grants for
energy
saving and
consumptio
n reduction
of 6# 4698723 0 0 239094 0 0 4459629
Related to
assets
generator
flow
reconstructi
on
Grants for
comprehen
sive
technical
transformat
ion project 4200416 0 0 263192 0 0 3937224 Related to
for assets
generator
transformat
ion and
upgrading
Special
treasury
bond-based
governmen 12079169 0 0 325000 0 0 11754169 Related to
t grants for assets
desulfurizat
ion projects
Other 56456868 500000 0 1572124 0 0 55384744 Related toassets
Total 163611515 500000 6345576 157765939
Other note
130Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
52. Other non-current liabilities
In RMB
Items Closing balance Opening balance
Capital injection 50000000 74499700
Housing revolving fund 985667 970029
Total 50985667 75469729
Other note：
In 2018 Yangjiang Wind Power and Qujie Wind Power-the Company's subsidiaries-received capital injections
of RMB 100000000 and RMB 50000000 respectively from Guangdong Energy Group which would be used
for the Yangjiang Shapa Offshore Wind Farm Project and the Qujie Wailuo Offshore Wind Power Project. In
2021 Yangjiang Wind Power had completed the industrial and commercial change registration. As of June 30
2022 Qujie Wind Power was recorded as other non-current liabilities due to the failure to complete the
industrial and commercial change registration.In 2019 Zhuhai Wind Power a subsidiary of the Group received a capital injection of RMB 50000000 from
Guangdong Energy Group Co. Ltd which would be used for the Zhuhai Jinwan Offshore Wind Power Project.As of December 31 2021 the industrial and commercial change registration tothe equity share corresponding to
the balance of RMB 24499700 had not been completed. As of June 30 2022 Zhuhai Wind Power has
completed the industrial and commercial change registration and converted the capital increase originally
included in other non-current liabilities into paid-in capital.
53.Stock capital
In RMB
Changed（+，-）Year-
beginning Balance inIssuance of Capitalizatio
balance year-endnew share Bonus shares n of public Other Subtotal
reserve
Total of
capital shares 5250283986 5250283986
54. Other equity instruments
Not applicable
55. Capital reserves
In RMB
Items Year-beginning Increase in the current Decrease in the Year-end balance
balance period current period
Share premium 4010311902 22519076 3987792826
Other capital reserves -75652004 -75652004
Estimate Increase 119593718 119593718
Investment from Energy
Group 395000000 395000000
Share of interests in the
investee in proportion to the -174299153 -174299153
shareholding
131Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Transfer of capital surplus
recognised under the 20474592 20474592
previous accounting system
Total 4295429055 22519076 4272909979
Other notes including the note to its increase/decrease and the cause(s) of its movement in the reporting period:
In 2022 Dayawan Company a subsidiary of the Company received a total capital increase of RMB 20800000
from Huizhou Port Investment Group Co. Ltd and Huizhou Dayawan Petrochemical Industrial Zone
Investment Co. Ltd thus the Company's shareholding ratio changed from 80% to 70%.The capital reserve shall
be adjusted according to the change in the share of the subsidiary's net assets enjoyed before and after the
capital increase.In 2022 Zhuhai Wind Power Company a subsidiary of Provincial Wind Power received a total capital increase
of RMB 118735000 from Zhuhai Special Economic Zone Power Development Group Co. Ltd and
Guangdong Energy Group Co. Ltd thus the shareholding ratio of Provincial Wind Power was changed from
85.91% to 74.49%. The capital reserve of Provincial Wind Power is adjusted according to the change in the
share of net assets of the subsidiary enjoyed before and after the capital increase and the Company recognizes
the change in the capital reserve according to the shareholding ratio.
56.Treasury stock
Not applicable
132Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
57. Other comprehensive income
In RMB
Amount of current period
Less：Amount
transferred into Less：Prior
Year- profit and loss in
period included
Items beginning Amount the current period
in other After-tax After-tax Closing
incurred before that recognied composite Less：Income attribute to the attribute tobalance balance
income tax into other income transfer tax expenses parent minority
comprehensive to retained company shareholder
income in prior income in the
period current period
I. Other comprehensive income that
will not be subsequently reclassified 1750524607 -125090302 -31272576 -93817726 1656706881
to profit or loss
Including: Changes arising from
remeasurement of defined benefit -37296993 0 0 0 0 0 -37296993
plans
Other comprehensive income that
cannot be transferred to profit or loss 69199467 0 0 0 0 0 69199467
under equity method
Changes in fair value of
investments in other equity 1718622133 -125090302 0 -31272576 -93817726 0 1624804407
instruments
II. Other comprehensive income that
will be subsequently reclassified to -513036 0 0 0 0 0 -513036
profit or loss
Including：Share of other
comprehensive income of the investee
that cannot be transferred to profit or -513036 0 0 0 0 0 -513036
loss accounted for using the equity
method
Total of other comprehensive income 1750011571 -125090302 -31272576 -93817726 1656193845
Other notes include the valid part of gain and loss of a cash-flow hedge converted into initial amount of arbitraged items for adjustment:
133Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
58. Special reserves
Not applicable
59. Surplus reserves
In RMB
Items Year-beginning balance Increase in the current Decrease in the current Year-end balance
period period
Statutory surplus
reserve 3016893870 3016893870
Discretionary surplus
reserve 5886621265 5886621265
Total 8903515135 8903515135
Other note including changes and reason of change
60. Retained profits
In RMB
Items Amount of this period Amount of last period
Before adjustments: Retained profits in last period
end 2985840058 8083048238
Adjust the total undistributed profits at the
beginning of the period 217641016
After adjustments: Retained profits at the period
beginning 3203481075 8083048238
Add：Net profit belonging to the owner of the
parent company -1375739165 326629275
Less: Statutory surplus reserve 0 110901285
Drawing discretionary surplus reserve 0 277253212
Drawing the general risk reserve 0
Common stock dividend payable 0 675886032
Common stock dividends converted to share
capital 0
Other 0 -938953
Retained profit at the end of this term 1827741909 7344698031
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 0.00.
61. Business income Business cost
In RMB
Amount of current period Amount of previous period
Items
Income Cost Income Cost
Main business 22423023603 23089561766 20336788241 19220551564
Other business 188216130 24622840 257250563 7626766
Total 22611239733 23114184606 20594038804 19228178330
Income related information:
In RMB
Contract classification Division 1 Division 2 Total
Commodity type
134Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Including
Electric power 22263672844 22263672844
Generation by-product 171920045 171920045
Thermal Energy 102972035 102972035
Labor service 56378724 56378724
Rent 16296085 16296085
Area
Including
Guangdong 22117126665 22117126665
Xinjiang 400459803 400459803
Hunan 39790974 39790974
Yunnan 29159946 29159946
Guangxi 24702345 24702345
Market type
Including
Power market 22263672844 22263672844
Other market 347566889 347566889
Contract type
Including
Sell goods 22538564924 22538564924
Service 56378724 56378724
Assets use rights 16296085 16296085
By the time of
commodity transfer
Including
Recognize at a certain
time point 22538564924 22538564924
Recognize in a certain
period of time 72674809 72674809
Constrict term
Including
Sales channel
Including
Total
Information related to performance obligations:
Commodity type Usual performance time of performance obligation Important payment terms Commodity nature
Electric power When power is supplied to the grid company Cash settlement/monthly Electric power
settlement
Heat energy When heat energy is supplied to customers who buy Cash settlement/monthly Heat energy
heat settlement
Power generation When by-products such as fly ash generated by power Cash settlement/monthly Power generation by-
by-products generation are transported to the agreed delivery place settlement products
Labor service Service provision period Cash settlement/monthly Labor service
settlement
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 been performed
incompletely but the contract has been signed at the end of the reporting period is RMB 136506091 of which
RMB 61823851 is expected to be recognized as income in 2022 RMB 61130779 is expected to be
recognized as income in 2023 RMB13551461 is expected to be recognized as income in 2024.
135Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
62. Business tax and subjoin
In RMB
Items Amount of current period Amount of previous period
Consumption tax 0 0
Urban construction tax 3856511 37772612
Education surcharge 2168420 30420349
Resource tax 0 0
Property tax 31305276 30312138
Land use tax 7940925 7998527
vehicle and vessel usage tax 85951 100204
Stamp tax 18448026 10751775
Environmental protection tax 5504435 7677550
Other 2705837 0
Total 72015381 125033155
Other note
63.Selling expenses
In RMB
Items Amount of current period Amount of previous period
Employee’s remuneration 25269233 28210400
Depreciation expenses 1660382 1720627
Business expense 1255893 1345254
Publicity Expenses 159485 234761
Other 2115057 4083946
Total 30460050 35594988
Other note
64.Administrative expenses
In RMB
Items Amount of current period Amount of previous period
Employee’s remuneration 283189854 222584846
Amortization of intangible assets 33707412 36972060
Depreciation expenses 38783816 34608134
Fire safety expenses 17730695 20591925
Property management expenses 18911954 17675282
Agency fee 9501922 8921215
Rental expenses 6065423 5607002
A forestation fee 5882034 5425685
Office expenses 5698458 5233459
Travel expenses 2889500 3672795
Entertainment expenses 2366481 2555273
Consulting fee 2185778 2029583
Insurance expenses 1265954 1336755
Low consumables amortization 1117419 959910
Expenses on board meetings 150590 317228
Other 48508584 44944191
Total 477955874 413435343
65. R&D Expense
136Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
In RMB
Items Amount of current period Amount of previous period
Direct input fee 535940368 63370274
Employee’s remuneration 114635359 44738097
Other 92283264 10152796
Outsourced research and development
expenses 9465979 1488645
Total 752324970 119749812
66.Financial Expenses
In RMB
Items Amount of current period Amount of previous period
1135329167693307586
Interest expenses
-66355499-69736114
Interest income
Bank charges and others 12084176 631434
Total 1081057844 624202906
67.Other income
In RMB
Other sources of revenue Amount of the Current Term Amount of the Previous Term
Revenue from timely levy and refund of
VAT 19790415 16646733
Amortization of the deferred income
related to the assets 6345576 2410954
Other 9057081 4369234
68. Investment income
In RMB
Items Amount of this period Amount of last period
Long-term equity investment income by equity
method 498927895 429715965
Disposal of the investment income generated from
the long-term equity investment 607470 -1433216
Dividends earned during the holding period on
investments in other equity instrument 90156139 30182378
Total 589691504 458465127
137Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
69.Net exposure hedging income
Not applicable
70. Gains on the changes in the fair value
Not applicable
71. Credit impairment loss
In RMB
Items Amount of this period Amount of last period
Loss of bad debts in other receivables 2201102 -305132
Impairment loss of the contract assets -14832
Loss of bad accounts receivable -472403 -97345
Total 1728699 -417309
72. Losses from asset impairment
In RMB
Items Amount of this period Amount of last period
I.Bad debt losses 0 0
II. Loss of inventory price and
Impairment of contract performance 0 0
costs
III.Long-term equity investment
impairment loss 0 0
IV. Investment real estate impairment
loss 0 0
V. Impairment loss of fixed assets 0 0
VI.Impairment loss of engineering
materials 0 0
VII.Impairment loss of the construction
in process 0 0
VIII.Impairment loss of productive
biological assets 0 0
IX. Oil and gas assets impairment loss 0 0
X. Impairment loss of intangible assets 0 0
XI. Goodwill impairment loss 0 0
XII. Impairment loss of the contract
assets 0 0
XIII.Other 0 0
73.Assets disposal income
In RMB
Source Amount of this period Amount of last period
Income from disposal of Fixed assets 31707133 43236290
Income from land disposal 0 74664905
138Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
74. Non-Operation income
In RMB
Items Amount of current period Amount of previous period Recorded in the amount of the
non-recurring gains and
losses
Gain on disposal of non-
current assets 2242304 7507022 2242304
A fine net income 1198829 0 1198829
liquidated damages income 176008 0 176008
Inventory scrap 416655 0 416655
Claims and Compensation
Income 62263 4304093 62263
Other 4770206 4706839 4770206
Total 8866265 16517954 8866265
75.Non-current expenses
In RMB
Items The amount of non-
Amount of current period Amount of previous period operating gains & losses
Foreign donations 104416 109792 104416
Loss on obsolescence of non-current
assets 5145026 4448428 5145026
Carbon emission rights assets used for
performance 8000000 2831978 0
Fine for delaying payment 5470272 219689 5470272
Other 1237646 7628075 1237646
Total 19957360 15237962 11957360
Other note：
In accordance with the Interim Provisions on the Accounting Treatment Regarding Carbon Emissions Right
Trading and the Interim Measures for the Administration of Trading of Carbon Emission Rights (Cai Kuai [2019]
No. 22) companies within the Group that were identified as key emission units recognised the purchase of carbon
emission quotas used in 2021 as non-operating expenses on an accrual basis and included relate provision for
carbon emission quota payable in other payables.
76. Income tax expenses
（1）Income tax expenses
In RMB
Items
Amount of current period Amount of previous period
Current income tax expense 88354741 242736676
Deferred income tax expense -234835297 -82136583
Total -146480556 160600093
（2）Adjustment on accounting profit and income tax expenses
In RMB
Items Amount of current period
Total profits -2269529679
Income tax expenses calculated on legal / applicable tax rate -567382420
139Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Effect of different tax rate applicable to the subsidiary Company -74740793
Influence of non taxable income -147535799
Impact of non-deductible costs expenses and losses 1519902
Transfer-out of deductible losses for which deferred tax asset was recognised -7702108
Deductible temporary differences for which no deferred tax asset was
recognised in the current period 638429238
Utilisation of deductible losses for which no deferred tax asset was recognised
in previous periods 23165582
Utilisation of deductible temporary differences for which no deferred tax asset
was recognised in previous periods -12234158
Income tax expenses -146480556
77. Other comprehensive income
Refer to the notes VII(57)
78.Items of Cash flow statement
（1）Other cash received from business operation
In RMB
Items Amount of current period Amount of previous period
Interest income 60744913 54888486
Government Subsidy 12106261 11653675
Claims and compensation income 4120923 1395046
Rental fee 16274284 14813018
Other 170803211 97305810
Total 264049592 180056035
(2)Other cash paid related to operating activities
In RMB
Items Amount of current period Amount of previous period
Insurance expenses 59805167 58482782
Equipment cleaning and sanitation and
greening fee 11179627 11998258
Transportation fee 1944107 12384777
Fire guard fee 14894750 16191209
Business fee 3708958 3809406
Agency Charge 6212870 8691612
Office expenses 5643624 6465894
Travel expenses 4542242 5414452
Rental fee 14137813 10241795
Enterprise publicity expenses 2671933 2759897
Information system maintenance 69173691 5368490
Water and electricity 38633864 27181912
R&D 13560305 4313829
Property management 20865234 16750741
Vehicle 15702294 13518787
Labour union 8708932 6537373
Other 325111885 265414570
Total 616497296 475525784
140Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(3)Cash received related to other investment activities
In RMB
Items Amount of current period Amount of previous period
Received returned land deposit 300000
Total 300000 0
(4)Cash paid related to other investment activities
Not applicable
（5）Other cash received in relation to financing activities
Not applicable
（6）Cash paid related with financing activities
In RMB
Items Amount of current period Amount of previous period
Rent paid by the financial lease 20793683 42044371
Total 20793683 42044371
79. Supplement Information for cash flow statement
（1）Supplement Information for cash flow statement
In RMB
Supplement Information Amount of current Amount ofperiod previous period
I. Adjusting net profit to cash flow from operating activities
Net profit -2123049123 487900103
Add: Impairment loss provision of assets -1728699 417310
Depreciation of fixed assets oil and gas assets and consumable biological assets 2343017900 1948652392
Depreciation of Use right assets 131524416 69288735
Amortization of intangible assets 44413829 38645842
Amortization of Long-term deferred expenses 3288367 2576853
Loss on disposal of fixed assets intangible assets and other long-term deferred assets -31707133 -117901195
Fixed assets scrap loss 2902722 437564
Loss on fair value changes 0 0
Financial cost 1081057844 624202906
Loss on investment -589691504 -458465127
Decrease of deferred income tax assets -306666111 -70238669
Increased of deferred income tax liabilities -38678242 65459153
Decrease of inventories -136871256 -846247635
Decease of operating receivables 848217168 -755958394.Increased of operating Payable -1434388688 2798076978
Other 0 0
Net cash flows arising from operating activities -208358510 3786846816
II. Significant investment and financing activities that without cash flows:
141Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Conversion of debt into capital
Convertible corporate bonds maturing within one year
Financing of fixed assets leased
3．Movement of cash and cash equivalents：
Ending balance of cash 10767718823 9523370233
Less: Beginning balance of cash equivalents 8023116939 9405082609
Add：End balance of cash equivalents
Less: Beginning balance of cash equivalents
Net increase of cash and cash equivalent 2744601884 118287624
(2) Net Cash paid of obtaining the subsidiary
Not applicable
(3) Net Cash receive of disposal of the subsidiary
Not applicable
(4) Component of cash and cash equivalents
In RMB
Items Year-end balance Year-beginning balance
I. Cash 10767718823 8023116939
Including：Cash at hand 61000 83108
Demand bank deposit 10767657823 8023033831
III. Balance of cash and cash equivalents
at the period end 10767718823 8023116939
80. Note of statement of changes in the owner's equity
Not applicable
81. The assets with the ownership or use right restricted
In RMB
Items Closing book value Causation of limitation
Ecological security land reclamation
Monetary funds 48778163 bond project performance bond and
special project deposit
Using right assets 5132159889 Assets to use rights formed by financinglease
Total 5180938052
82. Foreign currency monetary items
(1) Foreign currency monetary items
In RMB
Items Closing foreign currencybalance Exchange rate
Closing convert to RMB
balance
Monetary capital 1900
Including：USD 191 6.7114 1282
Euro 0 0 0
HKD 724 0.8532 618
Account receivable
Including：USD
Euro
142Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
HKD
Long –term borrowings
Including：USD 7483611 6.7114 50225507
Euro
HKD
Other note
(2) Note to overseas operating entities including important overseas operating entities which should be
disclosed about its principal business place function currency for bookkeeping and basis for the choice. In case
of any change in function currency the cause should be disclosed.□ Applicable √ Not applicable
83. Hedging
Not applicable
84. Government subsidies
（1）Government subsidies confirmed in current period
In RMB
Items Amount Project Amount included in currentprofit and loss
Revenue from timely levy and
refund of VAT 19790416 Other income 19790416
Amortization of the deferred
income related to the assets 6345575 Other income 6345575
Other 9057081 Other income 9057081
（2）Government subsidy return
□ Applicable √ Not applicable
Other note：
143Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
85.Other
VIII. Changes of merge scope
1. Business merger not under same control
(1) Business merger not under same control in reporting period
Not applicable
(2)Business combination under the same control
Not applicable
(3) Counter purchase
Not applicable
(4) The disposal of subsidiary
Whether there is a single disposal of the investment to subsidiary and lost control
□ Yes √No
Whether there are multiple transactions step by step dispose the investment to subsidiary and lost control in
reporting period
□ Yes √ No
（5）. Other reasons for the changes in combination scope
Notes to reasons for the changes in combination scope (Newly established subsidiary and subsidiary of
liquidation) and relevant information:
Name of Main Places of Nature of Shareholding Ratio (%)
Registration Place Obtaining Method
Subsidiary Operation Business direct indirect
Shaoguan New Shaoguan Shaoguan Electric PowerEnergy 100%
Establish
Hanhai New Electric Power Establish
Energy Tumushuke Tumushuke 100%
Jinxiu Company Laibin Guangxi Laibin Guangxi Electric Power 90% Establish
In addition this year SVA Petroleum Storage and Transportation (formerly indirectly held 51%) Huangdian T
raining Center (formerly indirectly held 51%) and Suishen Company (formerly indirectly held 35.70%) were ca
ncelled.
144Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(6).Other
IX. Equity in other entity
1. Equity in subsidiary
（1）Constitute of enterprise group
Subsidiary Main operation Registered Business
Share-holding ratio
place nature Acquired wayDirectly Indirectly
Maoming
Termal power Maoming Maoming ElectricPower 46.54% EstablishPlant
Jinghai Powr Electric
Generation Jieyang Jieyang power 65% Establish
Zhangjiang
Wind Power Zhanjiang Zhanjiang
Electric
power 70% Establish
Anxin Electric
Power Dongguan Dongguan Electric 100% Establish
Maintenance power
Humen Power Dongguan Dongguan ElectricGeneration power 60% Establish
Bohe Company Maoming Maoming Electricpower 67% Establish
Xuwen Wind Zhanjiang Zhanjiang ElectricPower power 70% Establish
Huadu Natural
gas Guangzhou Guangzhou
Electric
power 65% Establish
Dapu Company Meizhou Meizhou Electricpower 100% Establish
Leizhou Wind
Power Leizhou Leizhou
Electric
power 94% Establish
Dianbai Wind
Power Maoming Maoming
Electric
power 100% Establish
Zhanjiang Electric Business combinations
Company Zhanjiang Zhanjiang power 76% involving enterprises undercommon control
Yuejia Business combinations
Company Meizhou Meizhou
Electric
power 58% involving enterprises undercommon control
Yuejiang Electric Business combinations
Company Shaoguan Shaoguan power 90% involving enterprises undercommon control
Zhongyue Electric Business combinations
Company Zhanjiang Zhanjiang power 90% involving enterprises undercommon control
Electric sales Guangzhou Guangzhou Electricpower 100% Establish
Qujie Wind
Power Zhanjiang Zhanjiang
Electric
power 100% Establish
Yangjiang Yangjiang Yangjiang ElectricWind Power power 91.41% Establish
Lincang Business combinations
Company Lincang Lincang
Electric
power 100% involving enterprises not undercommon control
Guangqian Electric Business combinations
Company Shenzhen Shenzhen power 100% involving enterprises undercommon control
Huizhou Electric Business combinations
Natural gas Huizhou Huizhou power 67% involving enterprises undercommon control
Pinghai Power Huizhou Huizhou Electric 45% Business combinationsGeneration power involving enterprises under
145Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
common control
Shibeishan Business combinations
Wind Power Jieyang Jieyang
Electric
power 70% involving enterprises undercommon control
Red Bay Electric Business combinations
Company Shanwei Shanwei power 65% involving enterprises undercommon control
Guangdong Business combinations
Wind Power Guangzhou Guangzhou
Electric
power 100% involving enterprises not undercommon control
Tongdao Wind Huaihua Huaihua ElectricPower power 100% Establish
Pingyuan Wind
Power Meizhou Meizhou
Electric
power 100% Establish
Heping Wind Heyuan Heyuan ElectricPower power 100% Establish
Huilai Wind Electric Business combinations
Power Jieyang Jieyang power 89.83% involving enterprises not undercommon control
Hongrui Shaoguan Shaoguan ElectricTechnology Power 90% Establish
Yongan Natural
gas Zhaoqing Zhaoqing
Electric
power 90% Establish
Xupu Wind
Power Huaihua Huaihua
Electric
power 100% Establish
Wuxuan Wind Guangzi Guangxi ElectricPower power 100% Establish
Pingdian
Integrated
Energy Huizhou Huizhou
Electric
power 45% Establish
Company
Zhuhai Wind
Power Zhuhai Zhuhai
Electric
power 74.49% Establish
Binhai Bay Dongguan Dongguan Electricpower 100% Establish
Dayawan Huizhou Huizhou ElectricCompany power 70% Establish
Qiming Electric
Company Shenzhen Shenzhen power 100% Establish
Huaguoquan Business combinations
Company Shenzhen Shenzhen Rent 100% involving enterprises not undercommon control
Dananhai Electric
Company Jieyang Jieyang power 100% Establish
Baihua Energy Huizhou Huizhou Electricpower 100% Establish
Nanxiong New
Energy Shaoguan Shaoguan
Electric
power 100% Establish
Bijie New
Energy Bijie Bijie
Electric
power 100% Establish
Qinghai Wind Electric
Power Yangjiang Yangjiang power 100% Establish
Wanhaowei Zhanjiang Zhanjiang ElectricNew Energy power 100% Establish
Wanchuang
Hengwei New Zhanjiang Zhanjiang Electric 100% Establish
Energy power
Nanhua New Zhanjiang Zhanjiang Electric
Business combinations
Energy power 51% involving enterprises not undercommon control
Datang New Business combinations
Energy Guangzhou Guangzxhou
Electric
power 51% involving enterprises not undercommon control
Yueneng Wind Business combinations
Power Zhanjiang Zhanjiang
Electric
power 51% involving enterprises not undercommon control
146Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Tumu ermal Business combinations
power Xinjiang Xingjiang Electricpower 79.48% involving enterprises not underCompany common control
Sha C Electric Business combinations
Company Guangzhou Guangzhou power 51% involving enterprises undercommon control
Guanghe Electric Business combinations
Electric Power Guangzhou Guangzhou power 51% involving enterprises undercommon control
Biomass power Electric Business combinations
generation Zhangjiang Zhangjiang power 51% involving enterprises undercommon control
Xinhui power Business combinations
generation Jiangmen Jiangmen
Electric
power 45.90% involving enterprises undercommon control
Huaqing power Electric Business combinations
generation Jiangmen Jiangmen power 33.15% involving enterprises undercommon control
Yunhe power Electric Business combinations
generation Yunfu Yunfu power 90% involving enterprises undercommon control
Yundian Yunfu Yunfu Electric
Business combinations
Energy power 56.25% involving enterprises undercommon control
Yuehua power Guangzhou Guangzhou Electric
Business combinations
generation power 51% involving enterprises undercommon control
Yunhua
ntegrated Business combinations
Energy Guangzhou Guangzhou
Electric
power 51% involving enterprises under
Company common control
Guangzhou
Huangpu
Petroleum
storage（cancelled）
Huangpu Electric Business combinationsElectric Power Guangzhou Guangzhou power 51% involving enterprises underEngineering common control
Huangdian
Training center（cancelled）
Suishen
Comapny（cancelled）
Shaoguan New
Energy Shaoguan Shaoguan
Electric
power 100% Establish
Hanhai New
Energy Xingjiang Xingjiang
Electric
power 100% Establish
Jinxiu Energy Laibin Laibin Electricpower 90% Establish
Explanation on share-holding ratio in subsidiary different from ratio of voting right：
Pinghai power was bought by the Company in 2012 by offered non-public shares from Yudean. According to the
agreement between Yudean and Huaxia Electric which holds 40% share interest in Pinghai Power the delegated
shareholder and director from Huaxia Electric maintain consensus with those of Yudean when exercising their
voting rights during shareholder and board meeting; while after Yudean transferred its 45% shareholding of
Pinghai Power to the Company the delegated shareholder and director from Huaxia Electric also maintain
consensus with those of the Company when exercising their voting rights during shareholder and board meeting.On account of the above facts with the control power of Pinghai Power Huaxia Electric enjoys variable returns
through involving in its relevant activities and has the ability to make use of its power to influence the amount of
returns. Therefore the Company owns the control power over Pinghai Power.
147Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
On 30 November 2018 Maoming Termal power merged Maoming Termal power wholly-owned by GEGC.After the merger GEGC held 30.12% equity of Maoming Termal power . According to the agreement between the
Company and GEGC the delegated shareholder and director from GEGC maintain consensus with those of the
Company while exercising the voting rights during the shareholders’ meeting and the Board of Directors’ meeting
at Maoming Termal power . Therefore the Company owns control power over Maoming Termal power . In
addition pursuant to the consent agreement entered into between the Company and GEGC the Company holds
61.33% voting rights in Maoming Comprehensive a subsidiary whose 80% equity is directly held by Maoming
Zhenneng. Therefore the Company owns control power over Maoming Termal power Comprehensive
（2）Significant not wholly-owned subsidiaries
In RMB
Holding proportion of Profit or lossName non-controlling interest attributable to non-
Dividend declared to Closing balance of
controlling interest non-controlling interest non-controlling interest
Bohe Company
Zhanjiang Company 24% -35199481 853992823
Jinghai Company 35% -62997054 981027105
Red Bay Company 35% -78461652 873812068
Huizhou Natural gas 33% 3655038 25174599 630402997
Pinghai Power
Generation 55% -51703314 988343064
Sha C Company 49% -196455496 1254004127
148Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
（3）Main financial information of significant not wholly-owned subsidiaries
In RMB
Closing balance Beginning balance
Subsidiaries
Current assets Non-currentassets Total assets
Current Non-current
liabilities Liabilities Total liabilities Current assets
Non-current
assets Total assets
Current Non-current Total
liabilities Liabilities liabilities
Bohe
Company 2458586385 6490943049 8949529434 2098507523 2704208491 4802716014 2609681761 6892655462 9502337223 3008450314 2359263315 5367713629
Zhanjiang
Company 2638198041 1212189105 3850387146 265407038 26676677 292083715 2650321842 1266988373 3917310215 183009639 29332641 212342280
Jinghai
Company 1462511357 6634817785 8097329142 4081070987 1213323571 5294394558 1526571272 6829232837 8355804109 4033650563 1339227380 5372877943
Red Bay
Company 1342407090 4969804802 6312211892 3330283557 485322428 3815605985 1409063788 5053935838 6462999626 3167753333 574464236 3742217569
Huizhou
Natural gas 603320187 2805859417 3409179604 1037291784 461575707 1498867491 339090166 2930623382 3269713548 726965377 567225268 1294190645
Pinghai
Power 1713549436 2964880629 4678430065 982376986 1899065690 2881442676 1588057850 3411190163 4999248013 1230761702 1877492900 3108254602
Generation
Sha C
Company 2456100467 3900169926 6356270393 2454231929 1336056629 3790288558 2916866925 3999456043 6916322968 2657111340 1273188755 3930300095
In RMB
Amount of current period Amount of previous period
Subsidiaries Total Cash flow from Total
Operating revenue Net profit comprehensive operating Operating revenue Net profit comprehensive Cash flow from operating
income activities income activities
Bohe Company 1600129810 12189826 12189826 212145168 1190006156 -163273077 -163273077 179163841
Zhanjiang Company 1101789798 -146664504 -146664504 16138167 1071291598 24432411 24432411 84360764
Jinghai Company 2964790103 -179991581 -179991581 -233268195 2095200102 230709943 230709943 661661302
Red Bay Company 2321105097 -224176150 -224176150 -157836532 1630674910 152599944 152599944 639189177
Huizhou Natural gas 1414352530 11075874 11075874 -81615392 1870326110 334746205 334746205 412544115
Pinghai Power Generation 2432384327 -94006025 -94006025 41046024 1443009856 242186835 242186835 326530144
Sha C Company 2368494724 -423529603 -423529603 -901521160 2534236245 256458029 253663059 484084927
149Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(4) Significant restrictions of using enterprise group assets and pay off enterprise group debt
Not applicable
(5) Provide financial support or other support for structure entities incorporate into the scope of
consolidated financial statements
Not applicable
2. The transaction of the Company with its owner’s equity share changed but still controlling the subsidiary
Not applicable
3. Equity in joint venture arrangement or associated enterprise
(1) Significant joint venture arrangement or associated enterprise
The accounting
Name of Main Places Registration Shareholding Ratio (%) treatment of
Nature of Business
Subsidiary of Operation Place direct indirect investment in
associates
Joint ventures：-
Industry Fuel Guangzhou Guangzhou Fuel trade 50%
Associates：
Coal
Shanxi Yudean
Enerty Taiyuan Taiyuan
Transportation and
port operations 40%
investment
Yudean Shipping Zhenzhen Shenzhen Transportationport operations 35%
Energy Finance Guangzhou Guangzhou Financial 40%
Taishan Power
Generation Taishan Taishan Power Generation 20%
Energy Financing
Leasing Company Guangzhou Guangzhou Financing Leasing 25%
（2）Main financial information of Significant joint venture
In RMB
Amount of current period Amount of previous period
Industry Fuel Industry Fuel
Current assets 7355609387 8607437424
Including: Balance of cash and cash
equivalents
Non-current assets 4001437141 3981342190
Total of assets 11357046528 12588779614
Current liabilities 7369728718 9741803372
Non current liabilities 2235391865 1169197748
Total liabilities 9605120583 10911001120
Minority shareholder Equity 67010551 67010551
Attributable to shareholders of the parent
company 1684915394 1610767943
Share of net assets calculated by stake 842457697 805383972
Adjustment item
--Goodwill
-- Internal transactions did not achieve
profit -159913458 -159913458
--Other
Book value of equity investment in joint
venture 682544239 645470514
The fair value of the equity investment of
150Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
a joint venture with a public quotation
Business income 17314930225 15512366825
Financial expenses 87691402 12439451
Income tax 24130311 53178987
Net profit 74174449 160175934
Net profit from terminated operation 0
Other comprehensive income 0
Total comprehensive income 74174449 160175934
0
Dividends received from the joint
venture this year 29649898
Other note
Share of asset is calculated in proportion to the shareholding based on the amount attributable to the parent
company in the consolidated financial statements of associates. The amount in the consolidated financial
statements of associates considers the impacts of fair value of identifiable assets and liabilities of associates at the
time of acquisition and the unification of accounting policies.
151Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(3) Main financial information of significant associated enterprise
In RMB
Closing balance/This period Opening balance/Last period
Energy Energy
Shanxi Yudean Energy Taishan Power Financing Shanxi Yudean Energy Taishan Power Financing
Energy Shipping Finance Generation Leasing Energy Shipping Finance Generation Leasing
Company Company
Current assets 1040969674 641571286 7371307527 3071328769 890239041 1074073055 829650386 7694411383 2930161081 632968295
Non-current
assets 7438261411 1376929675 18184079259 8988244287 7516343275 6627921355 1421743662 17101010480 9406287125 7281003242
Total of assets 8479231085 2018500961 25555386786 12059573056 8406582316 7701994410 2251394048 24795421863 12336448206 7913971537
Current
liabilities 522403515 1258834496 21490053127 2863720736 1711486785 493070520 1535089658 20630423850 3414107776 1840650722
Non-current
liabilities 1281851074 27915297 36609358 4576937235 1230741592 7861833 31373853 3944093673
Total liabilities 1804254589 1286749793 21526662485 2863720736 6288424020 1723812112 1542951491 20661797703 3414107776 5784744395
Minority
shareholder 69866595 70239165
Equity
Attributable to
shareholders
of the parent 6605109901 731751168 4028724301 9195852320 2118158296 5907943133 708442557 4133624160 8922340430 2129227142
company
Share of net
assets
calculated by 2642043841 253839486 1611489720 -1839170464 529744007 2363177253 247954895 1653449664 1784468086 532306787
stake
Adjustment
item
--Goodwill 13325000 13325000
-- Internal
transactions
did not
achieve profit
--Other -454941 -
Book value of
equity
investment in 2642043841 253839486 1624359779 1839170465 529744007 2363177253 247954895 1666774664 1784468086 532306787
joint venture
The fair value
152Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
of the equity
investment of
a joint venture
with a public
quotation
Business
income 72490741 661785270 377919901 4165296856 150431274 40369217 975357361 361371694 2700661824 119226458
Net profit 696793898 16813118 203699560 234815986 62917590 420775891 62555903 212021766 223754761 41841369
Net profit
from
terminated
operation
Other
comprehensive
income
Total
comprehensive 696793898 16813118 207121927 234815986 62917590 420775891 62555903 212021766 223754761 41841369
income
Dividends
received from
the associated 123894709 18292179 76421226 12576669
enterprise this
year
153Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(4) Summary financial information of insignificant joint venture or associated enterprise
In RMB
Amount of current period Amount of previous period
Joint venture:
The total number of the following 8736640 9350000
Share of net assets calculated by stake
----Net Profit -613359.54
-- Total comprehensive income -613359.54
Associated enterprise：
Total investment book value 846084130.54 1070661046
The total number of the following
--Net Profit 25804751.54 20498038
- Total comprehensive income 25804751.54 20498038
(5) Note to the significant restrictions of the ability of joint venture or associated enterprise transfer funds
to the Company
Not applicable
(6) The excess loss of joint venture or associated enterprise
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 applicable
5. Equity of structure entity not including in the scope of consolidated financial statements
Not applicable
6.Other
X. The risk related financial instruments
XI. The disclosure of the fair value
1. Closing fair value of assets and liabilities calculated by fair value
In RMB
Items Closing fair value
Fair value Fair value Fair value
measurement items measurement items at measurement items at Total
at level 1 level 2 level 3
I. Consistent fair value
measurement -- -- -- --
（3）Other equity
instrument investment 422638380 2686300000 3108938380
II Inconsistent fair value
measurement -- -- -- --
154Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
2.Recognized basis for the market price sustaining and non-persistent measured by fair value on first-order
For financial instruments that are not traded in active markets the Group adopts valuation techniques to determine
their fair value.
3. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on second-order
4. Valuation technique and qualitative and quantitative information on major parameters for the fair value
measure sustaining and non-persistent on third -order
For financial instruments that are not traded in active markets the Group adopts valuation techniques to determine
their fair value. The valuation models used are mainly cash flow discount model and market comparable company
model. The input values of valuation techniques mainly include risk-free interest rate benchmark interest rate
exchange rate credit spread liquidity premium dividend model EBITDA multiplier illiquidity discount and so
on.
5.Continuous third-
level fair value measurement project adjustment information between the opening and closing book value and s
ensitivity analysis of unobservable parameters
6.The reasons for the conversions and the policies for determining the timing of the conversions for continuous
fair value measurement items where conversions between various levels occurred during the current period
The Group takes the occurrence date of the event that leads to the transition between different levels as the time to
confirm the transition between different levels. This year there is no transition among the first level the second
level and the third level.
7. Changes in valuation technology during the current period and the reasons for the changes
8. Sensitiveness analysis on unobservable parameters and adjustment information between opening and
closing book value of consistent fair value measurement items at level 3
The Group's financial assets and liabilities measured in amortized cost mainly include: accounts receivable other
receivables long-term receivables short-term loans fund payable long-term loans bonds payable and long-term
payables.There is no significant difference between the book value and fair value of the Group's financial assets and
financial liabilities that are not measured at fair value.
9.Other
XII. Related parties and related-party transactions
1. Parent company information of the enterprise
Parent company Share ratio of Vote right ratio of
name Registration place Nature Registered capital parent company parent companyagainst the against the
155Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
company(%) company(%)
Operation and
management of
power generation
Guangdong enterprises capital
Energy Group Guangzhou management of 23 billion 67.39% 67.39%electricity assets
construction of
power plant and
sales of electricity
Explanation on parent company of the enterprise
On August 8 2001 Guangdong Provincial Government had taken the lead in the implementation of the reform of
electric power system. Guangdong Electric power Group was established by inheriting the electricity generation
business of Guangdong electric Power Group Company and its registered capital is RMB 23 billion with 76%
stake held by Guangdong Provincial People's Government and 24% stake held by China Hua Neng Group
owning more than 14300 staff now and the company is the strongest
On February 18 2019 With the approval of the state-owned assets supervision and administration commission of
the Guangdong provincial people's government and the approval of the Guangdong provincial market supervision
administration the former Guangdong Energy group Co. Ltd. was renamed as Guangdong Energy Group Co. Ltd
Ultimate controller of the Company is Guangdong Provincial People’s Government state owned assets
supervision and Administration Commission.
2.Subsidiary of the Enterprise
See to Notes IX.1.
3.Cooperative enterprise and joint venture
See Notes IX.3.Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or
occurred in previous period：
Name Relationship
Yudean Fuel Company Joint venture
Yudean Shipping Comany Associate
Energy Group Finance Cmpany Associate
Yudean Insurance Captive Company Associate
Guangdong Energy Financing Leasing Co. Ltd. Associate
Yunfu Power Generation ( B plant) Co. Ltd. Associate
4.Other related party
Other related party Relationship with the Enterprise
Guangdong Energy Zhuhai Power Generation Plant Controlled by Energy Group
Guangdong Energy Shajiao Power plant Controlled by Energy Group
Guangdong Yudean Property Management Co. Ltd. Controlled by Energy Group
Yudean Infornation Technology Controlled by Energy Group
Yudean Real estate Investment Co. Ltd. Controlled by Energy Group
Yudean Environmental protection Co. Ltd. Controlled by Energy Group
Yudean Zhongshan Thermal power plant Controlled by Energy Group
Yangjiang Port Co. Ltd. Controlled by Energy Group
Guangzhou Development Zone Yudean New Energy Co. Ltd. Controlled by Energy Group
Yudean Huizhou New Energy Co. Ltd. Controlled by Energy Group
156Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Shaoguan Qujiang Yudean New Energy Co. Ltd. Controlled by Energy Group
Guangdong Energy Group Natural gas Co. Ltd. Controlled by Energy Group
Controlled by Energy Group
Dongguan Mingyuan Hotel Co. Ltd. Controlled by Energy Group
Guangdong Shaoguan Port Co. Ltd. Controlled by Energy Group
Inner Mongolia Yudean Menghua New Energy Co. Ltd. Controlled by Energy Group
5. Related transactions.
（1）Related transactions on purchasing goods and receiving services
Acquisition of goods and reception of labor service
In RMB
Related party Content Current amount Approval trading Whether over thelimit trading limit(Y/N) Last amount
Fuel Company Fuel purchase 12665241377 No 11474680573
Energy Group
Natural gas Fuel purchase 2160279170 No 2306754224
Yudean
Environment Material purchase 116123991 No 110877667
Protection
Zhuhai Special
Economic Zone
Guangzhu Power Electric purchase 89988153 No 59973500
Generation Co.Ltd.Guangdong
Zhuhai Jinwan
Power Generation Electric purchase 52914799 No 56010529
Co. Ltd.Guangdong
Yuelong Power
Generation Co. Electric purchase 16297566 No 14351040
Ltd.Zhongshan
Thermal power Electric purchase 5024466 No 44818875
plant
Yudean Insurance Acceptance of
Captive Company insurance services 40039372 No 24347588
Yudean Shipping Acceptance oftugboat services 12430189 No 12113208
Yudean Property Management
Management services 12058164 No 14400407
Yangjiang Port Acceptance oftugboat services 3774201 No 12695230
Yudean Acceptance of
Information management 2648984 No 2861901services
Guangdong
Energy Group
Science and Acceptance of R &
Technology D Services 339623 No 59973500
Research Institute
Co. Ltd
Sales of goods and services
In RMB
Related parties Content Occurred current term Occurred in previous term
Yudean Environment
Protection Sale of Material 104738860 160373232
Shajiao C plant Providing maintenance 23637465 22011907
157Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
services
Zhongshan Thermal power Providing maintenance
plant services 6953621 5303421
Guangdong Energy Zhuhai Providing maintenance
Power Generation Co. Ltd. services 2284679 1758858
Shaoguan Qujiang Yudean Providing maintenance
New Energy Co. Ltd. services 1514255 1531789
Guangzhou Development
Zone Yudean New Energy Providing maintenance 97262 753322
Co. Ltd. services
Guangdong Yudean Huizhou Providing maintenance
New Energy Co. Ltd. services 34821 138813
Guangdong Energy Group Providing emergency rescueservices 0 4716981
（2）Related trusteeship or contracting
Related trusteeship or contracting in which the Company is the undertake
In RMB
Name of the Name of the Asset Gains from
employer undertaker situation of Start date
Terminatin
the undertaker g date
Pricing basis the deal in
report period
The custody fee charged to
each first-class target company
directly controlled by
Guangdong Energy Group is
100000 yuan/year and the
custody fee charged to each
second-class target company
indirectly controlled by
Guangdong Yudean Group is
50000 yuan/year. If the
custody period is less than one
Shareholders' complete fiscal year the
rights except calculation formula of the
Guangdong Guangdong ownership
custody fee of each target
Energy Group Electric Power income right January
company is calculated
Development and 12018 according to the custody days. 900000Co. Ltd. Co. Ltd. disposition During the current period
right there are 16 first-level subjectcompanies that have been in
custody for half a year 4
second-level subject
companies that have been in
custody for half a year The
annual custody fee of the first-
level subject companies is 1.6
million yuan 800000 yuan
the second-level subject
companies is 200000 yuan
and 100000 yuan totaling
900000 yuan.
Note
According 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 the Company and
Guangdong Energy Group have signed the Equity Trust Agreement which entrusts the rights of shareholders of
the Company within the trust scope of Guangdong Energy Group to the Company except for the rights of
ownership income and disposition. Charge RMB 100000/year custody fees for each Guangdong Energy Group's
direct holding primary target company; charge each indirectly controlling secondary target company 50000/year
custody fee. For details please refer to the " Announcement on Related Party Transaction of the Signing of the
158Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
“Equity Custody Agreement” by Guangdong Electric Power 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.Lists of entrust/contracted
Not applicable
(3) Information of related lease
The company as lessor:
In RMB
Name of lessee Category of leased assets The lease income confirmed The lease income confirmedin this year in last year
Dongguan Mingyuan Hotal
Co. Ltd. Property Leas 1935106 1904760
Property Company Property Leas 326832 2633503
Shaoguan Port Property Leas 0 330400
Qujiang New Energy Property Leas 0 701
- The company was lessee：
In RMB
Variable lease
payments not
Rental charges for Interest expenses
included in lease Increased use right
short-term and low- Rent paid on lease liabilities
liabilities assets
value assets (if any) assumed
measurement (if
Categ any)
ory
Lessor oflease Amount Amoun Amoun Amoun Amoun Amoun Amoun Amoun Amoun Amoun
d
assets
of current t of t of t of t of t of t of t of t of t of
period previou current previou current previou current previou current previou
s period period s period period s period period s period period s period
Yudean Finan
Finance cing 0 0 0 0 117062 42494 108205 65813 45680 246482
lease leasin 870 333 269 168 915 205g
Yudean Leasi
Real ng 68592 52272servi 0 0 0 0 67 55 277385 217275 29940
13021
Estate 699ce
（4）Status of related party guarantee
As a guarantor for the company
In RMB
Guarantor Guarantee amount Start date End date Executionaccomplished
Guangdong Energy
Group 1672845423 December 32019 September 152043 No
As a secured party for the company
Not applicable
(5) Inter-bank lending of capital of related parties：
In RMB
159Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Related party Amount borrowed andloaned Initial date Due date Notes
Borrowed
Guangdong Energy Group
Finance Co. Ltd. 100000000 March 282022 March 272023
Guangdong Energy Group
Finance Co. Ltd. 50000000 June 102022 June 92023
Guangdong Energy Group
Finance Co. Ltd. 121846154.08 September 22015 May 262030
Guangdong Energy Group
Finance Co. Ltd. 121846153.80 December 172015 May 262030
Guangdong Energy Group
Finance Co. Ltd. 8529230.72 January 252017 May 262030
Guangdong Energy Group
Finance Co. Ltd. 6188102.08 October 272017 May 262030
Guangdong Energy Group
Finance Co. Ltd. 27227240.48 December 112017 May 262030
Guangdong Energy Group
Finance Co. Ltd. 12060961.92 January 312018 May 262030
Guangdong Energy Group
Finance Co. Ltd. 4608409.44 April 282018 May 262030
Guangdong Energy Group
Finance Co. Ltd. 15169281.28 July 42018 May 262030
Guangdong Energy Group
Finance Co. Ltd. 3460692 August 12018 May 262030
Guangdong Energy Group
Finance Co. Ltd. 5551691.36 November 222018 May 262030
Guangdong Energy Group
Finance Co. Ltd. 4118124.42 January 242019 May 262030
Guangdong Energy Group
Finance Co. Ltd. 4910157.54 April 122019 May 262030
Guangdong Energy Group
Finance Co. Ltd. 7630428 January 172020 May 262030
Guangdong Energy Group
Finance Co. Ltd. 5994747.20 March 252020 May 262030
Guangdong Energy Group
Finance Co. Ltd. 12816109.20 April 82020 May 262030
Guangdong Energy Group
Finance Co. Ltd. 17281721.36 April 302020 May 262030
Guangdong Energy Group
Finance Co. Ltd. 50000000 July 292021 July 202022
Guangdong Energy Group
Finance Co. Ltd. 50000000 August 302021 August 292022
Guangdong Energy Group
Finance Co. Ltd. 30000000 October 292021 October 282022
Guangdong Energy Group
Finance Co. Ltd. 50000000 February 252022 February 242023
Guangdong Energy Group
Finance Co. Ltd. 50000000 March 182022 March 172023
Guangdong Energy Group
Finance Co. Ltd. 50000000 March 292022 March 282023
Guangdong Energy Group
Finance Co. Ltd. 50000000 April 142022 April 132023
Guangdong Energy Group
Finance Co. Ltd. 100000000 April 272022 April 262023
Guangdong Energy Group
Finance Co. Ltd. 50000000 May 272022 May 262023
Guangdong Energy Group
Finance Co. Ltd. 50000000 June 82022 June 72023
Guangdong Energy Group
Finance Co. Ltd. 40000000 October 162014 October 132029
Guangdong Energy Group
Finance Co. Ltd. 50000000 March 152022 March 142023
Guangdong Energy Group
Finance Co. Ltd. 200000000 April 272022 April 262023
Guangdong Energy Group 200000000 May 302022 May 292023
160Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Finance Co. Ltd.Guangdong Energy Group
Finance Co. Ltd. 80000000 June 172022 June 162023
Guangdong Energy Group
Finance Co. Ltd. 215000000 June 52011 December 52024
Guangdong Energy Group
Finance Co. Ltd. 100000000 September 292021 September 232022
Guangdong Energy Group
Finance Co. Ltd. 100000000 July 292021 July 282022
Guangdong Energy Group
Finance Co. Ltd. 21210000 January 152021 December 242035
Guangdong Energy Group
Finance Co. Ltd. 55000000 January 192022 December 242035
Guangdong Energy Group
Finance Co. Ltd. 100000000 February 42015 October 272029
Guangdong Energy Group
Finance Co. Ltd. 45000000 June 172015 October 272029
Guangdong Energy Group
Finance Co. Ltd. 25000000 July 232015 October 272029
Guangdong Energy Group
Finance Co. Ltd. 24000000 September 152015 October 272029
Guangdong Energy Group
Finance Co. Ltd. 30000000 September 282015 October 272029
Guangdong Energy Group
Finance Co. Ltd. 19000000 October 132015 October 272029
Guangdong Energy Group
Finance Co. Ltd. 144500000 December 162015 October 272029
Guangdong Energy Group
Finance Co. Ltd. 12000000 June 202018 October 272029
Guangdong Energy Group
Finance Co. Ltd. 17000000 September 202018 October 272029
Guangdong Energy Group
Finance Co. Ltd. 46360000 December 102014 October 272029
Guangdong Energy Group
Finance Co. Ltd. 1790000 December 102014 October 272029
Guangdong Energy Group
Finance Co. Ltd. 1790000 December 102014 October 272029
Guangdong Energy Group
Finance Co. Ltd. 120000000 February 92022 February 82023
Guangdong Energy Group
Finance Co. Ltd. 130000000 February 142022 February 132023
Guangdong Energy Group
Finance Co. Ltd. 100000000 February 112022 February 102023
Guangdong Energy Group
Finance Co. Ltd. 30000000 April192022 October 192022
Guangdong Energy Group
Finance Co. Ltd. 30000000 April 192022 October 192022
Guangdong Energy Group
Finance Co. Ltd. 30000000 April 192022 October 192022
Guangdong Energy Group
Finance Co. Ltd. 30000000 April 192022 October 192022
Guangdong Energy Group
Finance Co. Ltd. 30000000 April 192022 October 192022
Guangdong Energy Group
Finance Co. Ltd. 10000000 July 22021 July 12022
Guangdong Energy Group
Finance Co. Ltd. 10000000 July 282021 July 272022
Guangdong Energy Group
Finance Co. Ltd. 10000000 August 42021 August 32022
Guangdong Energy Group
Finance Co. Ltd. 10000000 August 122021 August 112022
Guangdong Energy Group
Finance Co. Ltd. 10000000 August 202021 August 192022
Guangdong Energy Group
Finance Co. Ltd. 10000000 September 22021 September 12022
Guangdong Energy Group 10000000 September 82021 September 72022
161Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Finance Co. Ltd.Guangdong Energy Group
Finance Co. Ltd. 10000000 September 142021 September 132022
Guangdong Energy Group
Finance Co. Ltd. 5000000 September 152021 September 142022
Guangdong Energy Group
Finance Co. Ltd. 10000000 September 172021 September 162022
Guangdong Energy Group
Finance Co. Ltd. 10000000 December 172021 December 162022
Guangdong Energy Group
Finance Co. Ltd. 5000000 December 222021 December 212022
Guangdong Energy Group
Finance Co. Ltd. 10000000 May 202022 May 192023
Guangdong Energy Group
Finance Co. Ltd. 10000000 May 272022 May 262023
Guangdong Energy Group
Finance Co. Ltd. 10000000 June 72022 June 62023
Guangdong Energy Group
Finance Co. Ltd. 10000000 June 172022 June 162023
Guangdong Energy Group
Finance Co. Ltd. 10000000 June 282022 June 272023
Guangdong Energy Group
Finance Co. Ltd. 11503169.20 February 242022 November 112041
Guangdong Energy Group
Finance Co. Ltd. 28604889.75 April 202022 November 112041
Guangdong Energy Group
Finance Co. Ltd. 10200000 June 232022 November 112041
Guangdong Energy Group
Finance Co. Ltd. 200000000 March 82022 March 72023
Guangdong Energy Group
Finance Co. Ltd. 190000000 March 102022 March 92023
Guangdong Energy Group
Finance Co. Ltd. 100000000 April 122022 April 112023
Guangdong Energy Group
Finance Co. Ltd. 80000000 April 142022 April 132023
Guangdong Energy Group
Finance Co. Ltd. 20000000 April 202022 April 192023
Guangdong Energy Group
Finance Co. Ltd. 40000000 April 292022 April 282023
Guangdong Energy Group
Finance Co. Ltd. 40000000 May 122022 May 112023
Guangdong Energy Group
Finance Co. Ltd. 50000000 May 242022 May 232023
Guangdong Energy Group
Finance Co. Ltd. 30000000 June 12022 May 312023
Guangdong Energy Group
Finance Co. Ltd. 60000000 June 142022 June 132023
Guangdong Energy Group
Finance Co. Ltd. 50000000 June 222022 June 232023
Guangdong Energy Group
Finance Co. Ltd. 20000000 June 222022 June 232023
Guangdong Energy Group
Finance Co. Ltd. 65000000 May 112022 May 102023
Guangdong Energy Group
Finance Co. Ltd. 45000000 May 172022 May 162023
Guangdong Energy Group
Finance Co. Ltd. 96000000 June 102022 June 92023
Guangdong Energy Group
Finance Co. Ltd. 70000000 June 272022 June 262023
Guangdong Energy Group
Finance Co. Ltd. 11100000 May 102018 June 222032
Guangdong Energy Group
Finance Co. Ltd. 13600000 May 292018 June 222032
Guangdong Energy Group
Finance Co. Ltd. 17300000 June 132018 June 222032
Guangdong Energy Group 69600000 May 202018 June 222032
162Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Finance Co. Ltd.Guangdong Energy Group
Finance Co. Ltd. 3600000 July 252018 June 222032
Guangdong Energy Group
Finance Co. Ltd. 7140000 September 132018 June 222032
Guangdong Energy Group
Finance Co. Ltd. 5360000 October 102018 June 222032
Guangdong Energy Group
Finance Co. Ltd. 2680000 October 232018 June 222032
Guangdong Energy Group
Finance Co. Ltd. 4110000 October 292018 June 222032
Guangdong Energy Group
Finance Co. Ltd. 12500000 November 202018 June 222032
Guangdong Energy Group
Finance Co. Ltd. 2550000 November 112021 November 102022
Guangdong Energy Group
Finance Co. Ltd. 13221100.30 November 182021 November 102022
Guangdong Energy Group
Finance Co. Ltd. 180785689.48 November 252021 November 102022
Guangdong Energy Group
Finance Co. Ltd. 112087730.40 December 92021 November 102022
Guangdong Energy Group
Finance Co. Ltd. 32992208.44 December 272021 November 102022
Guangdong Energy Group
Finance Co. Ltd. 57741800.04 February 162022 November 102022
Guangdong Energy Group
Finance Co. Ltd. 26310486.97 March 72022 March 72023
Guangdong Energy Group
Finance Co. Ltd. 80000000 April 252022 March 162042
Guangdong Energy Group
Finance Co. Ltd. 10000000 June 282022 March 162042
Guangdong Energy Group
Finance Co. Ltd. 23000000 June 302022 March 162042
Guangdong Energy Group
Finance Co. Ltd. 200000000 October 262022 October 252023
Guangdong Energy Group
Finance Co. Ltd. 50500000 June 272022 June 272023
Guangdong Energy Group
Finance Co. Ltd. 100000000 July 292021 July 282022
Guangdong Energy Group
Finance Co. Ltd. 40000000 March 312022 March 302023
Guangdong Energy Group
Finance Co. Ltd. 50000000 March 232022 March 222023
Guangdong Energy Group
Finance Co. Ltd. 30000000 June 212022 June 202023
Guangdong Energy Group
Finance Co. Ltd. 100000000 July 292021 July 282022
Guangdong Energy Group
Finance Co. Ltd. 21175000 May 172016 May 162031
Guangdong Energy Group
Finance Co. Ltd. 49273911 March 72017 May 162031
Guangdong Energy Group
Finance Co. Ltd. 9075000 May 192017 May 162031
Guangdong Energy Group
Finance Co. Ltd. 32655000 June 142017 May 162031
Guangdong Energy Group
Finance Co. Ltd. 30000000 June 212017 May 162031
Guangdong Energy Group
Finance Co. Ltd. 16456000 August 102017 May 162031
Guangdong Energy Group
Finance Co. Ltd. 223496 January 102018 May 162031
Guangdong Energy Group
Finance Co. Ltd. 16553381 May 112018 May 162031
Guangdong Energy Group
Finance Co. Ltd. 50000000 September 12021 August 302022
Guangdong Energy Group 30000000 March 232022 March 222023
163Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Finance Co. Ltd.Guangdong Energy Group
Finance Co. Ltd. 10000000 November 42020 November 22035
Guangdong Energy Group
Finance Co. Ltd. 9000000 November 192020 November 22035
Guangdong Energy Group
Finance Co. Ltd. 3000000 January 222021 November 22035
Guangdong Energy Group
Finance Co. Ltd. 26000000 July 262021 November 22035
Guangdong Energy Group
Finance Co. Ltd. 10000000 October 202021 November 22035
Guangdong Energy Group
Finance Co. Ltd. 10000000 December 102021 November 22035
Guangdong Energy Group
Finance Co. Ltd. 15000000 December 272021 November 22035
Guangdong Energy Group
Finance Co. Ltd. 15000000 January 192022 November 22035
Guangdong Energy Group
Finance Co. Ltd. 10000000 May 302022 November 22035
Guangdong Energy Group
Finance Co. Ltd. 632991.90 June 262019 June 252039
Guangdong Energy Group
Finance Co. Ltd. 570000 July 152019 June 252039
Guangdong Energy Group
Finance Co. Ltd. 297042.21 August 262019 June 252039
Guangdong Energy Group
Finance Co. Ltd. 1297700 September 122019 June 252039
Guangdong Energy Group
Finance Co. Ltd. 180000 September 292019 June 252039
Guangdong Energy Group
Finance Co. Ltd. 210000 October 292019 June 252039
Guangdong Energy Group
Finance Co. Ltd. 3000000 November 212019 June 252039
Guangdong Energy Group
Finance Co. Ltd. 2000000 December 52019 June 252039
Guangdong Energy Group
Finance Co. Ltd. 1100000 December 182019 June 252039
Guangdong Energy Group
Finance Co. Ltd. 1800000 January 142020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 1500000 February 252020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 47400000 April 162020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 54000000 April 292020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 8500000 May 182020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 6700000 June 172020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 11200000 July 92020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 19500000 August 102020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 7700000 August 202020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 36000000 September 102020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 5700000 September 152020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 11600000 October 152020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 7100000 November 192020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 5000000 March 162021 June 252039
Guangdong Energy Group 10000000 April 62021 June 252039
164Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Finance Co. Ltd.Guangdong Energy Group
Finance Co. Ltd. 8121853.80 April 222021 June 252039
Guangdong Energy Group
Finance Co. Ltd. 5000000 May 202021 June 252039
Guangdong Energy Group
Finance Co. Ltd. 20000000 August 122021 June 252039
Guangdong Energy Group
Finance Co. Ltd. 13700000 May 212020 June 252039
Guangdong Energy Group
Finance Co. Ltd. 3000000 June 122020 May 182035
Guangdong Energy Group
Finance Co. Ltd. 1500000 June 302020 May 182035
Guangdong Energy Group
Finance Co. Ltd. 8000000 July 282020 May 182035
Guangdong Energy Group
Finance Co. Ltd. 12000000 September 212020 May 182035
Guangdong Energy Group
Finance Co. Ltd. 8000000 November 232020 May 182035
Guangdong Energy Group
Finance Co. Ltd. 8500000 February 32021 May 182035
Guangdong Energy Group
Finance Co. Ltd. 5000000 May 132021 May 182035
Guangdong Energy Group
Finance Co. Ltd. 10000000 November 112021 May 182035
Guangdong Energy Group
Finance Co. Ltd. 10000000 December 162021 May 182035
Guangdong Energy Group
Finance Co. Ltd. 17000000 December 232021 May 182035
Guangdong Energy Group
Finance Co. Ltd. 10000000 January 42022 May 182035
Guangdong Energy Group
Finance Co. Ltd. 3300000 January 172022 May 182035
Guangdong Energy Group
Finance Co. Ltd. 15000000 May 192022 May 182035
Guangdong Energy Financing
Leasing Co. Ltd. 47731250 July 202020 July 202035
Guangdong Energy Financing
Leasing Co. Ltd. 2863875 March 312021 July 202035
Guangdong Energy Financing
Leasing Co. Ltd. 9319375 May 132021 July 202035
Guangdong Energy Financing
Leasing Co. Ltd. 5000000 May 202021 July 202035
Guangdong Energy Financing
Leasing Co. Ltd. 11455500 June 242021 July 202035
Guangdong Energy Group
Finance Co. Ltd. 2800000 May 282020 May 252035
Guangdong Energy Group
Finance Co. Ltd. 2200000 June 222020 May 252035
Guangdong Energy Group
Finance Co. Ltd. 4550000 June 282020 May 252035
Guangdong Energy Group
Finance Co. Ltd. 6000000 July 222020 May 252035
Guangdong Energy Group
Finance Co. Ltd. 2700000 August 142020 May 252035
Guangdong Energy Group
Finance Co. Ltd. 6800000 September 142020 May 252035
Guangdong Energy Group
Finance Co. Ltd. 12000000 October 232020 May 252035
Guangdong Energy Group
Finance Co. Ltd. 31000000 November 122021 May 252035
Guangdong Energy Group
Finance Co. Ltd. 5000000 January 252022 May 252035
Guangdong Energy Group
Finance Co. Ltd. 36000000 June 102022 May 252035
Guangdong Energy Group 51000000 July 232018 July 222033
165Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Finance Co. Ltd.Guangdong Energy Group
Finance Co. Ltd. 30000000 March 302021 March 302036
Guangdong Energy Group
Finance Co. Ltd. 18597140 December 172021 March 282036
Guangdong Energy Group
Finance Co. Ltd. 3000000 December 272019 December 262034
Guangdong Energy Group
Finance Co. Ltd. 20000000 June 242020 December 262034
Guangdong Energy Group
Finance Co. Ltd. 20000000 October 92020 December 262034
Guangdong Energy Group
Finance Co. Ltd. 13000000 November 172020 December 262034
Guangdong Energy Group
Finance Co. Ltd. 24000000 December 112020 December 262034
Guangdong Energy Group
Finance Co. Ltd. 4500000 February 52021 December 262034
Guangdong Energy Group
Finance Co. Ltd. 3528114.28 June 242022 December 262034
Guangdong Energy Group
Finance Co. Ltd. 30000000 December 282018 December 272036
Guangdong Energy Group
Finance Co. Ltd. 30000000 January 162019 December 272036
Guangdong Energy Group
Finance Co. Ltd. 38000000 May 312019 December 272036
Guangdong Energy Group
Finance Co. Ltd. 23000000 June 212019 December 272036
Guangdong Energy Group
Finance Co. Ltd. 26000000 July 292019 December 272036
Guangdong Energy Group
Finance Co. Ltd. 21000000 September 292019 December 272036
Guangdong Energy Group
Finance Co. Ltd. 18000000 October 302019 December 272036
Guangdong Energy Group
Finance Co. Ltd. 18000000 November 272019 December 272036
Guangdong Energy Group
Finance Co. Ltd. 9000000 \December 252019 December 272036
Guangdong Energy Group
Finance Co. Ltd. 10000000 February 212020 December 272036
Guangdong Energy Group
Finance Co. Ltd. 24000000 November 262020 December 272036
Guangdong Energy Group
Finance Co. Ltd. 69030000 May 292020 May 282040
Guangdong Energy Group
Finance Co. Ltd. 46020000 June 162020 May 282040
Guangdong Energy Group
Finance Co. Ltd. 28000000 November 42020 May 282040
Guangdong Energy Group
Finance Co. Ltd. 60000000 January 42021 May 282040
Guangdong Energy Group
Finance Co. Ltd. 19000000 March 262021 May 282040
Guangdong Energy Group
Finance Co. Ltd. 20000000 July 162021 May 282040
Guangdong Energy Group
Finance Co. Ltd. 25000000 January 42021 December 292040
Guangdong Energy Group
Finance Co. Ltd. 8500000 February 262021 December 292040
Guangdong Energy Group
Finance Co. Ltd. 16000000 April 222021 December 292040
Guangdong Energy Group
Finance Co. Ltd. 7890000 July 162021 December 292040
Guangdong Energy Group
Finance Co. Ltd. 43000000 December 32021 December 292040
Guangdong Energy Group
Finance Co. Ltd. 350000000 August 302021 April 252024
Guangdong Energy Group 32158951.93 February 262020 January 22040
166Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Finance Co. Ltd.Guangdong Energy Group
Finance Co. Ltd. 20000000 April 92020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 43481594.40 May 142020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 43850008.20 May 272020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 15400000 June 172020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 48350000 July 162020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 83613861.21 August 202020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 21281009.76 August 272020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 12188757.10 September 162020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 30000000 October 162020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 16530202.23 November 192020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 6290000 December 102020 January 22040
Guangdong Energy Group
Finance Co. Ltd. 11000000 January 212021 January 22040
Guangdong Energy Group
Finance Co. Ltd. 13084525.72 March 112021 January 22040
Guangdong Energy Group
Finance Co. Ltd. 86135247.60 April 142021 January 22040
Guangdong Energy Group
Finance Co. Ltd. 31500000 May 182021 January 22040
Guangdong Energy Group
Finance Co. Ltd. 60000000 December 162021 January 22040
Guangdong Energy Group
Finance Co. Ltd. 3000000 March 32016 February 102033
Guangdong Energy Group
Finance Co. Ltd. 1000000 March 32016 February 102033
Guangdong Energy Group
Finance Co. Ltd. 3288300 December 162015 February 102033
Guangdong Energy Group
Finance Co. Ltd. 46351200 January 272022 January 262025
Guangdong Energy Group
Finance Co. Ltd. 121731878.66 June 302022 January 262025
Guangdong Energy Group
Finance Co. Ltd. 5000000 March 52022 March 32024
Guangdong Energy Group
Finance Co. Ltd. 5000000 June 62022 June 52023
Guangdong Energy Group
Finance Co. Ltd. 14000000 June 272022 June 262023
Guangdong Energy Group
Finance Co. Ltd. 300000000 December 62021 December 52022
Guangdong Energy Group
Finance Co. Ltd. 200000000 December 62021 December 52022
Guangdong Energy Group
Finance Co. Ltd. 200000000 May 242022 May 232023
Loaned
(6) Related party asset transfer and debt restructuring
Not applicable
(7) Rewards for the key management personnel
In RMB
167Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Items
Amount of current period Amount of previous period
Annual salary of the operator 3623100 3199040
（8）Other related transactions
(a)Allocation of common expenses
In the first half of 2022 the common expenses received by the Group from Shajiao C was RMB2476840( In
the first half of 2021 the common expenses received by the Group from Shajiao C was RMB2453346 )
(b) Interest income
Items
Amount of current period Amount of previous period
Deposit interest of Energy Group Finance 55824047.09 67166135
Proportion % 85.18% 95.54%
(c)Interest expense
Items
Amount of current period Amount of previous period
Interest of borrowing of Guangdong Energy
Finance Company 151009743 145356412
Discount interest of Guangdong Energy
Finance Company 7765365 8175698
Proportion 13.92% 22.14%
（d）Interest payable
Items
Amount of current period Amount of previous period
Yudean Finance Lease interest 108205269 74190579
(e)Joint Investment
Name Energy Group
Maoming Thermal power plant 30.12%
Bohe Company 33%
Sha C Company 49%
Guanghe Electric Power 49%
Biomass Power Generation 49%
Xinhui Power Generation 44.10%
Huaqing Power Generation 31.85%
Energy Group Finance Company 60%
Industry Fuel 50%
Shanxi Energy Company 60%
Capital Company 51%
168Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Energy Financing Leasing 50%
Yudean Shipping 45%
Yueqian Electric power 17.48%
6. Payables and receivables of the related party
（1）Receivables
In RMB
At end of term At beginning of term
Project Related parties
Book balance Bad debt provision Book balance Bad debt provision
Monetary funds- Energy Group
Deposit Finance Company 9056865954 6468820757
Monetary funds- Energy Group
Interest receivable Finance Company 38196299 39533620
Monetary funds-
Other Monetary Energy Group
funds Finance Company
120000006000000
Account
receivable Shajiao C Plant 8458800 8500800
Zhuhai Power
Generation 2669171 6820689
Yudean New
Energy 103098 5272364
Other 11462488 11643227
Contract assets Shajiao C plant 0 3132201
Other 14816 56083
Other account
receivable Fuel Company 96734943 1602258185
Financing Leasing 141953119 129864979
Yudean
Environmental 52822596 76772719
protection
Other 7331023 8113032
Advance payment Industry Fuel 816149016 481701342
Other 127157339 3707618
Other non-current Technology
assets Company 250000 250000
（2）Payables
In RMB
Name Related party Amount at year end Amount at year beginning
Note payable Finance Company 480000000 866000000
Natural Gas 121000000
Account payable Fuel Company 2620505425 4251347098
Group 871552735 2501436910
Energy Group natural gas 224798049 390755352
Yudean Environmental
Protection 44582143 35115820
Yudean Environmental
Protection Material 22896036 24316381
Other 2394404 3511517
Contract liabilities Group 2606132 2606132
Other payable Group 2314499700 2501436910
Financing Leasing 149891611 42722792
Menghua New Energy 11417296 5276682
Other 4441367 6780239
Lease liabilities Financing Leasing 4757785995 3801408039
169Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Yudean Property 12216717 16521739
Short-term loans Finance Company 5749415370 4980279137
-principal 5746189016 4977136729
-Interest 3226354 3142408
Non-current liability due in 1 Energy Group Finance
year Company 106213090 198523901
-principal 93294578 191911238
-Interest 12918512 6612663
Group 6315417 82368958
-principal 0 82000000
-Interest 143750 368958
Energy Financing Leasing 15903054 33630163
Long-term loans Finance Company-Principal 4184481303 4175122351
Group-Principal 500000000 268000000
7. Related party commitment
8.Other
XIII. 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. Modification and termination of the stock payment
5.Other
XIV. Commitments
1.Importance commitment events
Important commitments of existence of balance sheet date
(1) Commitments of capital expenditure
The following are the capital expenditure commitments signed by the Group on the balance sheet date which do
not need to be listed on the balance sheet:
June 302022 December 31 2021
House Building and Generation
equipment 22596050631 23518696981
Intangible assets 107816147
Total 22703866778 23518696981
170Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(2) Performance of previous commitments
(a) The Ninth Session of the Board approved the Proposal on the Investment in and Construction of Dongguan
Ningzhou Site Alternative Power Project during its 3rd communication meeting on 10 April 2020. The Board
gave permission to Binhai Bay Company (the main part of investment) for investment in and construction of
Dongguan Ningzhou Site Alternative Power Project and the installation capacity of the project was gas-steam
cooling thermal and power cogeneration unit of 3×700MW. The dynamic investment for the project amounted
to RMB 5927600000 including a capital fund of RMB 1185520000. As at 30 June 2022 the Company had
made a capital contribution of RMB 620000000 to Binhai Bay Company including a contribution of9000000
made in the current year.(b) The Ninth Session of the Board approved the Proposal on Investment in and Construction of Zhuhai
Jinwan Offshore Wind Power Project during its 7th meeting on 25 January 2019. For the purpose of scaling up
the Company’s offshore wind power in Guangdong Province and the southeast coast the Board approved the
Company’s investment in Zhuhai Jinwan Offshore Wind Power Project with a total dynamic investment of
RMB 5643170000 including a capital fund of RMB 1128634000.On April 27 2021In order to smoothly promote the construction of new energy projects and ease the financial
pressure the First meeting of the ninth board of directors by Correspondence of 2021 reviewed and approved
the Proposal on Indirect Subsidiaries Introducing Investors It is agreed to introduce Zhuhai Special Economic
Zone Power Development Group Co. Ltd. and Guangdong Energy Group Co. Ltd. as investors of Guangdong
Yudean Zhuhai Offshore Wind Power Co. Ltd. by means of capital increase and share expansion in which
Zhuhai Power contributed RMB 89.187 million and held 20% equity of Zhuhai Wind Power Company while
Guangdong Energy Group contributed RMB 25.5003 million and held 5.7184% equity of Zhuhai Wind Power
Company. After the completion of capital increase and share expansion the shareholding ratio of Guangdong
Wind Power Company in Zhuhai Wind Power Company decreased to 74.2816%. As at 30 June 2022 the
Company had made a capital contribution of RMB665000000 to Zhuhai Jinwan Offshore Wind Power Project
and in the current year the Company did not increase capital.(c) The Ninth Session of the Board approved the Proposal of Investment in and Construction of Zhanjiang
Wailuo Offshore Wind Power Project (Phase I) during its 1st communication meeting on 23 March 2018. The
Board gave permission to its wholly-owned subsidiary Qujie Wind Power for the construction of Zhanjiang
Wailuo Offshore Wind Power Project (Phase I). The installation capacity of the project reached at 198 MW and
the total investments hit RMB 3739450000. The capital fund was recorded as RMB 747890000 at a
proportion of 20%. As at 31 June 30 2022 the Company made a total capital contribution of RMB 600000000
to the project and in the current year the Company did not increase capital.(d) The Ninth Session of the Board approved the Proposal of Investment in Construction of Zhanjiang Wailuo
Offshore Wind Power Project (Phase II) during its 1st communication meeting on 23 March 2018 and the
Proposal of Investment in Construction of Zhanjiang Wailuo Offshore Wind Power Project (Phase II) during its
9th meeting on 29 August 2019. The Board gave permission to the Company’s wholly-owned subsidiary Qujie
Wind Power for the investment of Wailuo Phase II which was deemed as the main part of investment. The total
dynamic investment for the project amounted to RMB 3789120000 including a capital fund of RMB
757824000. As at 30 June 2022 the Company had made a capital contribution of RMB478000000 to The
Project and in the current year the Company did not increase capital.（e) The Eighth Session of the Board approved the Proposal of Establishment of Yudean Yangjiang OffshoreWind Power Co. Ltd. during its 6th meeting on 27 April 2015. The Board gave permission to the Company’s
wholly-owned subsidiary Guangdong Wind Power for the establishment of Yangjiang Wind Power in Yangjiang
171Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
which was deemed as the main part of investment in Yangjiang Shapa offshore wind power project. The total
dynamic investment was RMB 5963270000 and the capital fund was calculated as RMB 1192660000 at a
proportion of 20%. It is agreed to implement the capital increase of special funds for promoting economic
development in 2018 by means of capital increase and share expansion proposed by the State-owned Assets
Supervision and Administration Commission of the People's Government of Guangdong Province and
introduce Guangdong Energy Group as the shareholder of Guangdong Yudean Yangjiang Offshore Wind Power
Co. Ltd. with Guangdong Energy Group contributing RMB 58.1053 million and holding 10.9594% equity of
Yangjiang Wind Power Company. After the capital increase and share expansion the shareholding ratio of
Guangdong Wind Power Company in Yangjiang Wind Power Company decreased to 89.0406% and the final
shareholding ratio of each shareholder shall be subject to the asset appraisal record results. As at 30 June 2022
the Company had made a capital contribution of RMB1055000000 to The Project and in the current year the
Company did not increase capital.(f) The Ninth Session of the Board approved the Proposal on Investment in and Construction of Zhanjiang
Xinliao Offshore Wind Power Project during its 6th communication meeting on 28 November 2019. The Board
agreed Qujie Wind Power’s investment (as the main part of the investment in the project) in construction and
operation of Zhanjiang Xinliao Offshore Wind Power Project with a total dynamic investment of RMB
3698880000. The capital fund was recorded as RMB 739776000 at a proportion of 20%.
As at 30 June 2022 the Company had made a capital contribution of RMB520000000 to The Project and in
the current year the Company did not increase capital.(g) The Ninth Session of the Board approved the Proposal on Accelerating Guangdong Yudean Dapu Power
Plant Project (Phrase II) during its 15th meeting on 12 October 2020. The Board gave permission to the
subsidiary Dapu Electric for part of substantive work of the project. The project investment in 2020 was limited
to RMB 317100000 which was provided to Dapu Electric by the Company through capital increase based on
actual construction progress. As at 30 June 2022 the Company had made a capital contribution of
RMB10000000.(h) The Eighth Session of the Board approved the Proposal on the Establishment of Hunan Tongdao Dong
Autonomous County Dagaoshan Wind Power Project Company during its 14th meeting on 25 October 2016 and
the Proposal on the Construction of Hunan Tongdao Dagaoshan Wind Power Plant Project during its 3rd
communication meeting on 10 April 2020. The Board gave permission to the Company’s subsidiary Tongdao
Company for the investment in and construction of the Tongdao Dagaoshan wind power project and the
installation capacity of the project was 50MW. The total dynamic investment was RMB 531740000 including
a capital fund of RMB 106348000 (accounting for 20% of the total dynamic investment). As at 30 June 2022
the Company had made a capital contribution of RMB100000000 to The Project and in the current year the
Company did not increase capital.(i) The Ninth Session of the Board approved the Proposal on the Investment in and Construction of Guangxi
Wuxuan Wind Power Plant Project (Phrase I) during its 6th communication meeting on 28 November 2019. The
total investments of the project hit RMB 482580000 (including investment in self-construction of outgoing
circuit) including a capital fund of RMB 96516000. As at 30 June 2022 the Company had made a capital
contribution of RMB92000000 to The Project and in the current year the Company did not increase capital.(j) The Ninth Session of the Board approved the Proposal on Investment in and Construction of Hunan Xupu
Sun Mountain Wind Power Plant Project during its 3rd communication meeting on 10 April 2020. The Board
gave permission to Guangdong Wind Power for the investment in and construction of the project. The
installation capacity of the project was 50MW and the total dynamic investment was RMB 524532900
(including investment in self-construction of outgoing circuit) including a capital fund of RMB 104906580
172Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(accounting for 20% of the total dynamic investment). As at 30 June 2022 the Company had made a capital
contribution of RMB102000000 to The Project and in the current year the Company did not increase capital.(k) The Ninth Session of the Board approved the Proposal on the Investment in and Construction of Zhaoqing
Dinghu Natural Gas Thermal Power Cogeneration Project during its 15th meeting on 12 October 2020. The
Board gave permission to the Company’s holding subsidiary Yongan Natural Gas (as the main part of the
investment in the project) for the investment in and construction of Zhaoqing Dinghu natural gas thermal power
cogeneration project. The capital fund of the project was calculated as RMB 600000000 at 20% of the
project’s total investments. The initial registered capital of Yongan Natural Gas was RMB 100000000 and the
Company contributed RMB 90000000 based on its shareholding proportion of 90% in 2016. The remaining
capital fund of RMB 500000000 for the project would be provided by the Company according to its
shareholding proportion of 90% in batches based on actual construction progress and capital demand. As at 30
June 2022 the Company had made a capital contribution of RMB180000000 to The Project and in the current
year the Company did not increase capital.(l) The Ninth Session of the Board approved the Proposal on Investment in and Construction of Guangdong
Yudean Nanxiong Zhu’an Village Wind Power Plant Project during its 17th meeting on 4 December 2020. The
Board gave permission to the Company’s wholly-owned subsidiary Guangdong Wind Power for the investment
in Guangdong Yudean Nanxiong Zhu’an Village wind power plant project (49900 KW) as a shareholder. The
total dynamic investment of the project was RMB 451810000 including a capital fund of RMB 90362000
and the remaining capital fund would be provided through bank loan financing etc. As at 30 June 2022 the
Company had made a capital contribution of RMB75000000 to The Project and in the current year the
Company did not increase capital.(m) The Ninth Session of the Board approved the Proposal on Investment in and Construction of Guangdong
Yudean Pingyuan Sishui Wind Power Plant Project during its 17th meeting on 4 December 2020. The Board
gave permission to the Company’s wholly-owned subsidiary Guangdong Wind Power for the investment in
Guangdong Yudean Pingyuan Sishui wind power plant project (40000 KW) as a shareholder. The total dynamic
investment of the project was RMB 339480000 including a capital fund of RMB 67900000. As at 30 June
2022 the Company had made a capital contribution of RMB40000000 to The Project and in the current year
the Company did not increase capital.(n) The 15th Meeting of the 8th Board of director approved the Proposal about Investment in the Construction
of 2×400MW Gas-steam Thermoelectricity Cogeneration Project of Guangdong Yudean Huadu Natural Gas
Thermal Power Co. Ltd. and it was agreed that Huadu Thermal Power a holding subsidiary would invest in the
2×400MW Gas-steam Cogeneration Project of Guangdong Yudean Huadu Natural Gas Thermal Power Co. Ltd.
The total investment of the project was RMB 3593160000 and the capital was RMB 718632000. According
to the 65% share ratio the total capital to be injected into Huadu Company by the Company was RMB
467110800. On June 30 2022 the Company has injected a total capital of RMB97500000 into the project
and in the current year the Company did not increase capital.(o) On February 14 2021The Second Meeting of the Ninth board of Directors examined and adopted the
Proposal on Establishing the Huizhou Dayawan Petrochemical District Western Comprehensive Energy Station
Project Company and Carrying out the Upfront Work In order to promote the implementation and speed up the
progress of the Western Comprehensive Energy Station Project of Huizhou Dayawan Petrochemical District the
board of directors agrees: The Company and Huizhou Dayawan Petrochemical Industrial Zone Investment Co.Ltd establish the Huizhou Dayawan Petrochemical District Western Comprehensive Energy Station Project
Company in Dayawan District by the share structure ratio of 80%:20% with the initial registered capital of
RMB 22 million-of which the Company contributes RMB17.6 million according to the share ratio. The 2nd
173Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Meeting of the 9th Board of director by correspon dence examined and adopted the Proposal on Capital
Increase to Guangdong Yudean Dayawan Comprehensive Energy Co. Ltd.， the Company’s board of directorsagreed that the Company and Huizhou Dayawan Petrochemical Industrial Zone Investment Co. Ltd shall
simultaneously increase capital by amount 160 million yuan to Guangdong Yudean Dayawan Comprehensive
Energy Co. Ltd (hereinafter referred to as "Dayawan Thermal Power Company") for the Dayawan Thermal
Power Company to purchase the project construction land of which the Company shall invest 128 million yuan
according to the equity ratio of 80%. On June 30 2022 the Company has injected a total capital of
RMB145600000 into the project and in the current year the Company did not increase capital.(p) On January 282021 The Third Meeting of the Ninth Board of Director by Correspondence examined and
adopted the Proposal on the establishment of Guangdong Dananhai Intelligence Energy Co. Ltd. the board of
directors agreed to the Company’s sole proprietorship to establish a project company for the Jieyang Da’nanhai
Petrochemical Integrated Energy Project. with the first phase of registered capital is 15 million yuan. It’s agreed
that the project company will carry out the upfront work of Jieyang Da’nanhai petrochemical integrated energy
project (2~3 400MW/9F or 600MW gas-fired combined heat and power units. On June 30 2022 the Company
has injected a total capital of RMB40900000 into Dananhai Company. of which RMB25900000 was injected
this year.(q) On June 82021 The Third Meeting of the Ninth Board of Director by Correspondence examined and
adopted the Proposal on Carrying out the Upfront Work of the "Integrated Source Network and Load" Project
in Huizhou New Material Industrial Park，The board of directors of the Company agreed that Baihua EnergyCompany will first build a 9F gas-fired unit supporting a 100t/h gas boiler (finally determined according to the
feasibility study of the project) to carry out the upfront work. The upfront work cost of the project shall be
controlled at 12 million yuan which shall be solved by the Company's capital increase. Baihua Energy
Company was registered and established on February 25 2021. It is a wholly-owned subsidiary to the Company
with a registered capital of 5 million yuan. On June 30 2022 the Company has injected a total capital of
RMB3，000，000 into Baihua Energy Company.(r) The Tenth Session of the Board approved the Proposal on the Participation in the Initiation and
Establishment of A Provincial Futures Company during its meeting on 2 August 2021. The Board gave
permission to the Company’s participation in the initiation and establishment of Guangdong Utrust Futures Co.Ltd. with self-owned fund of RMB 400 million at the shareholding proportion of 20% and signing of the
Initiator Agreement and Articles of Association of the provincial futures company. It also agreed the
Company’s first capital contribution of RMB 10 million at the shareholding proportion of 20% with one month
after the reply on preparation of the provincial futures company was issued by the China Securities Regulatory
Commission and the Company’s contribution of the remaining capital of RMB 390 million within the term as
required by the China Securities Regulatory Commission which would depend on the notice from the
provincial futures company’s preparation team or the announcement of the China Securities Regulatory
Commission.(s) On September 7 2021 the Company and the Dafang County People's Government signed the "Wind and
Solar Hybrid Power Generation Project Investment and Development Agreement" in Guangzhou further
reaching an agreement on the development and utilization of photovoltaic wind resources in Dafang County.The planned photovoltaic and wind power project has an installed capacity of 3123MW with a total investment
of 18.01 billion yuan. The specific development capacity and investment amount shall be determined according
to the file-record and approval of the relevant competent authorities of the project and the approved capacity
actual construction and operation situation.
174Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(t) The "Proposal on Investment and Construction of YudeanYangjiangQingzhouI (400000 kW) Offshore
Wind Power Project" and the "Proposal on Investment and Construction of YudeanYangjiang QingzhouII
(600000 kilowatts) Offshore Wind Power Project Proposal”were reviewed and approved in the tenth board
meeting of the Company held on November 8 2021 agreed that Guangdong Provincial Wind Power Co. Ltd-a
wholly-owned subsidiary to the Company-will be a shareholder for investing in the construction of
YudeanYangjiang QingzhouI Offshore Wind Farm Project and YudeanYangjiang QingzhouII Offshore Wind
Farm Project The total project construction scale is 1 million kilowatts the total dynamic investment is
17107250000 yuan and the capital is set at 3421450000 yuan according to 20% of the dynamic total
investment. Guangdong Energy Qingzhou Offshore Wind Power Co. Ltd-which is wholly-owned by
Guangdong Wind Power Company-acts as the main investor of the project and is responsible for the investment
construction operation and so forth work for the project. The capital required for the project will be increased
by the Company in batches to Guangdong Wind Power Company according to the actual construction progress
and capital demand of the project. On June 30 2022 the Company injected a total of RMB 310000000 of
capital into the project of which RMB 110000000 was newly injected in this year.(u) The "Proposal on the Acquisition of Equity of Guangdong Shajiao (Plant C) Power Generation Co. Ltd andother companies” was reviewed and approved in the third meeting of the tenth session of the board of directors
of the Company held on September 30 2021 agreed that the Company would in cashacquire the shares of 51%
stake of Guangdong Shajiao (Plant C) Power Generation Co. Ltd the 90% stake of Guangdong YudeanYunhe
Power Generation Co. Ltd and the 51% stake of Guangdong Yuehua Power Generation Co. Ltd held by
Guangdong Energy Group. The total transaction price was RMB 4140549100 which should be finally
adjusted and determined based on the recorded appraisal price and the change in the net assets corresponding to
the equity during the transition period. During the current year the transaction price was determined to be RMB
3743601600 after adjusting for the profit and loss during the transition period. As of June 30 2022 the
remaining unpaid consideration was RMB 2240000000.(v) On January 14 2022 Guangdong Yuehua Power Generation Co. Ltd (hereinafter referred to as "Yuehua
Power Generation Company") a holding subsidiary by the Company received the "Approval on the Gas-
Substitutes-Coal Power Generation Project by Guangdong Yuehua Power Generation Company (HuangpuPower Plant")” issued by the Guangzhou Development and Reform Commission. According to the document
the gas-substitutes-coal power generation project of Guangdong Yuehua Power Generation Company (Huangpu
Power Plant) was approved. The project mainly builds a 600-megawatt (H-class) gas-steam combined cycle
peak shaving unit and its supporting equipment. The total investment of the project is 1532190000 yuan of
which the project capital is 310 million yuan-accounting for 20.2% of the total project investment-and the rest
will be solved through bank loans.(w) On March 25 2022 the Company held the second communication meeting of the tenth board of directors
in 2022 and reviewed and approved the "Proposal on Investing in the 400MW Photovoltaic Power Generation
Project of the 45th Regiment of Tumusuke City the Third Division of the Construction Corps" ". In order to
implement the deployment of aid to Xinjiang deepen strategic cooperation with key regions further optimize
the power supply structure and increase the proportion of clean energy the Company's board of directors
agreed to the Company to wholly set upTumusuke Yuedean Hanhai New Energy Co. Ltd for investing in the
construction of the 400000-kilowatt photovoltaic power generation project of the 45th Regiment of the Third
Division of the Xinjiang Production and Construction Corps with the total investment of the project is
2226851400 yuan and the capital is set at 445370000 yuan according to 20% of the total project investment-
which will be solved by the Company's capital increase to Hanhai New Energy Company in batches. As of June
30 2022 the Company has invested RMB 276.05 million to Hanhai New Energy Company.
175Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
2.Contingency
（1）Significant contingency at balance sheet date（ a）As at 30 June 2022 the Company provided joint guarantee for bank borrowings amounting to RMB
41470000 for Yunnan Baoshan Binlangjiang Hydroelectricity Development Co. Ltd. of which the liability
relief procedure is being handled.
（2）The Company have no significant contingency to disclose also should be stated
The was no significant contingency in the Company.
3.Other
XIV. Post-balance-sheet events
Not applicable
4. Note to other matters after the balance sheet date
XVI.. Other significant events
1. The accounting errors correction in previous period
Not applicable
2. Debt restructuring
Not applicable
3. Replacement of assets
Not applicable
4. Pension plan
Not applicable
5. Discontinuing operation
Not applicable
6. Segment information
(1) Recognition basis and accounting policies of reportable segment
As the Group's operating income expenses assets and liabilities are mainly related to the production and sale of
electricity and related products the management of the Group takes the electricity business as a whole and
regularly obtains and evaluates its financial status operating results and cash flow and other relevant accounting
information. Therefore the Group has only the power business segment so it has not prepared the report segment
information.From January to June 2022 the income of the Group's power plants from China Southern Power Grid
Corporation was RMB 22263672844 (January to June 2021: RMB 20207747740) accounting for 98.46% of
176Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
the Group's operating income (January to June 2020: 98.19%)
(2) The financial information of reportable segment
Not applicable
(3) There was no reportable segment or the total amount of assets and liabilities of each part of reportable
segment shall disclose the reason.As the Group's operating income expenses assets and liabilities are mainly related to the production and sale of
electricity and related products the management of the Group takes the electricity business as a whole and
regularly obtains and evaluates its financial status operating results and cash flow and other relevant accounting
information. Therefore the Group has only the power business segment so it has not prepared the report segment
information.
(4) Other notes
7. Other important transactions and events have an impact on investors’ decision-making
Not applicable
8. Other
177Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
XVII. Notes s of main items in financial reports of parent company
（1）Account receivable
1.Classification account receivables.
In RMB
Closing balance Opening balance
Category Book balance Bad debt provision Book balance Bad debt provision
Book value Book value
Amount Proportion % Amount Proportion % Amount Proportion % Amount Proportion %
Accrual of
bad debt
provision by 0 0% 0 0% 0 0 0% 0 0% 0
single
Of which
Accrual of
bad debt
provision by 146436654 100% 0 0% 146436654 192707778 100% 0 0% 192707778
portfolio
Of which
Electricity
sales 146436654 100% 0 0% 146436654 192707778 100% 0 0% 192707778
receivable
Total 146436654 100% 0% 146436654 192707778 100% 0% 192707778
Accrual of bad debt provision by portfolio:0
178Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
In RMB
Closing balance
Name
Book balance Bad debt provision Proportion%
Electricity sales receivable 146436654 0 0%
Total 146436654 0
Note：
Portfolio 1- Electricity sales receivable， As at 30 June 2022 the amount of receivables from sales of electricityof the Group was RMB146436654) which was mainly from China Southern Power Grid Co. Ltd. and its
subsidiaries (collectively referred to as “China Southern Power Grid”). Taking into consideration its good credit
the Group believes that there is no significant credit risk in the receivables from sales proceeds of electricity and
the possibility of significant losses due to China Southern Power Grid's default is extremely low. The Group's
expected credit loss rate for sales proceeds of electricity is 0%
Relevant information of the provision for bad debts will be disclosed with reference to the disclosure method of
other receivables if the provision for bad debts of bills receivable is accrued according to the general model of
expected credit loss:
□ Applicable √ Not applicable
Disclosure by aging
In RMB
Aging Closing balance
Within 1 year（Including 1 year） 146436654
Total 146436654
(2) Accounts receivable withdraw reversed or collected during the reporting period
Not applicable
(3) The actual write-off accounts receivable
Not applicable
（4）The ending balance of other receivables owed by the imputation of the top five parties
In RMB
Name Amount Proportion(%) Bad debt provision
GPGC 146436654 100% 0
Total 146436654 100%
179Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(5) Account receivable which terminate the recognition owning to the transfer of the financial assets
Not applicable
(6) The amount of the assets and liabilities formed by the transfer and the continues involvement of accounts
receivable
Not applicable
2. Other accounts receivable
In RMB
Items Closing balance Opening balance
Interest receivable 859926 887856
Dividends receivable 0 0
Other accounts receivable 320306058 415102710
Total 321165984 415990566
（1）Interest receivable
1) Category of interest receivable
Items Closing balance Opening balance
Demand deposits 0 0
Entrusted loans 859926 887856
Bond investment 0 0
Total 859926 887856
2) Significant overdue interest
Not applicable
3）Bad-debt provision
□ Applicable √ Not applicable
（2）Dividend receivable
1）Category of dividend receivable
Not applicable
2) Significant dividend receivable aged over 1 year
Not applicable
3）Bad-debt provision
□ Applicable √ Not applicable
Other note：
（3） Other accounts receivable
1) Other accounts receivable classified by the nature of accounts
In RMB
Nature Closing book balance Opening book balance
180Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Entrust loans receivable 100000000 100000000
Supplementary medical insurance fund
receivable 39346861 39346861
Sales of by-products receivable 6586465 13723340
Alternative money receivable 4146520 2250884
Capacity receivable 0 252000000
Other 170436992 7933062
Less: Allowance for doubtful accounts -210780 -151437
Total 320306058 415102710
2）Bad-debt provision
In RMB
Stage 1 Stage 2 Stage 3
Expected credit losses
Bad Debt Reserves Expected credit losses Expected credit loss Total
over the next 12 over life (no credit for the entire duration
months impairment) (credit impairmentoccurred)
Balance as at January
12022151437151437
Balance as at January
1 2022 in current
Provision in the current
period 61214 61214
Turn back in the
current period -1871 -1871
Balance as at June
302022210780210780
Loss provision changes in current period change in book balance with significant amount
□ Applicable √Not applicable
Disclosure by aging
In RMB
Aging Closing balanceWithin 1 year(Including 1 year） 319233701
1-2 years 897895
2-3 years 924602
Over 3 years 320566
3-4 years 229313
4-5 years 91253
Over 5 years 0
Total 321376764
3) Accounts receivable withdraw reversed or collected during the reporting period
The withdrawal amount of the bad debt provision：
Amount of change in the current period
Category Opening Reversed orbalance Closing balanceAccrual collected Write-off Other
amount
Deposit 145342 58888 -1871 202359
Other 6095 2326 8421
Total 151437 61214 -1871 210780
181Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
(4) The actual write-off accounts receivable
Not applicable
(5) Top 5 of the closing balance of the other accounts receivable collected according to the arrears party
In RMB
Proportion of the
total year end
Name Nature Closing balance Aging balance of the Closing balance of
accounts bad debt provision
receivable
Hunan Fourth
Engineering Co. Receivable currentaccount 82830000 Within 1 year 26% 0Ltd
Yuehua Power Receivable current
Generation account 81600000 Within 1 year 25% 0
Lincang Yudean Entrusted loan due
Energy within one year 50000000 Within 1 year 16% 0
Shaoguan Yuejiang Entrusted loan due
Power Generation within one year 50000000 Within 1 year 16% 0
Taikang
Endowment Supplementary
Insurance Co. Ltd. medical insurance 39346860 Within 1 year 12% 0
Guangdong fund receivable
Branch
Total 303776860 95% 0
(6) Accounts receivable involved with government subsidies
Not applicable
(7) Other account receivable which terminate the recognition owning to the transfer of the financial assets
Not applicable
(8) The amount of the assets and liabilities formed by the transfer and the continues involvement of other
accounts receivable
Not applicable
3. Long-term equity investment
In RMB
Closing balance Opening balance
Items
Book balance Provision forimpairment Book value Book balance
Provision for
impairment Book value
Investments in 30967286850 1348124079 29619162771 30519715049 1348124079 29171590970
subsidiaries
Investments in
associates and 7816818914 96327854 7720491060 7464714961 96327854 7368387107
joint ventures
Total 38784105764 1444451933 37339653831 37984430010 1444451933 36539978077
（1） Investments in subsidiaries
In RMB
Investees Opening Increase /decrease Closing Closing
182Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
balance Add balance balance of
investment Other impairmentprovision
Huizhou
Natural gas 1205199446 1205199446
Guangqian
Company 1353153223 1353153223
Red Bay
Company 2220023386 2220023386
Lincang
Comapny 281000000 281000000 209989439
Zhanjiang
Electric 2185334400 2185334400
Company
Yuejia
Company 0 0 455584267
Yuejiang
Company 1101203999 1101204000 408494674
Maoming
Company 687458978 687458977
Jinghai
Company 1930395668 1930395668
Anxin
Company 20000000 20000000
Humen
Company 3192416 3192416 86807584
Zhongyue
Company 963000000 963000000 187248115
Bohe
Company 3167000000 3167000000
Pinghai
Company 720311347 720311347
Dapu
Company 1040000000 10000000 1050000000
Hudu
Company 186550000 186550000
Guangdong
Wind Power 6872556260 110000000 6982556260
Yudean
Electric Sale 230000000 230000000
Yongan
Company 180000000 180000000
Binhaiwan
Company 620000000 9000000 629000000
Dayawan
Company 145600000 145600000
Qiming
Company 20000000 12000000 32000000
Guaguoquan
Company 49680900 49680900
Dananhai
Company 15000000 25900000 40900000
Baihua
Company 3000000 3000000
Sha C
Company 1559120782 1559120783
Yunhe
Company 1066562327 1066562327
Yuhua
Company 541247838 541247838
Bijie
Company 5000000 5000000
Tudian
Company 800000000 800000000
Shaoguan
New Energy 0 2000000 2000000
183Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Jinxiu
Company 2621800 2621800
Hanhai
Company 0 276050000 276050000
Total 29171590970 447571800 0 0 0 29619162771 1348124079
184Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
（2）Investment in joint ventures and associates
In RMB
Increase/decrease in this period
Announced Balance of
Name of Beginning of Investment for the provision
investee term Increase in Decrease in income
Other Other
comprehensive changes distributing Provision for
End of term on for
investment investment under equity income in equity cash impairment
Other
impairment
method dividend or
profit
I.Joint venture
Industry
Fuel 804769245 0 0 37073725 0 0 0 0 0 841842970 0
Subtotal 804769245 0 0 37073725 0 0 0 0 0 841842970 0
II. Associated
Yueqian
Electric
Power Co. 161325870 0 0 21836633 0 0 0 0 0 183162503 0
Ltd.Yudean
Shipping 247954895 0 0 5884591 0 0 0 0 0 253839486 0
Company
Yunnan
Nengtou
Weixin 138810051 0 0 -22193510 0 0 0 0 0 116616541 96327854
Energy
Co. Ltd.Shanxi
Yudean
Energy 2363177253 0 0 278866588 0 0 0 0 0 2642043841 0
Co. Ltd.Energy
Group
Finance 1046702914 0 0 50924888 0 0 77434193 0 0 1020193609 0
Company
Yudean
Captive 276532777 0 0 7432402 0 0 2426770 0 0 281538409 0
Guangdong
Guohua
Yudean
Taishan 1784468086 0 0 54702379 0 0 0 0 0 1839170465 0
Power
Generation
185Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Co. Ltd.Energy
Financing
Leasing 532306787 0 0 15729399 0 0 18292179 0 0 529744007 0
Company
Other 12339229 0 0 0 0 0 0 0 0 12339229 0
Subtotal 6563617862 0 0 413183372 0 0 98153142 0 0 6878648090 96327854
Total 7368387107 0 0 450257096 0 0 98153142 0 0 7720491060 96327854
186Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
（3）Other note
4. Business income Business cost
In RMB
Amount of current period Amount of previous period
Items
Income Cost Income Cost
Main business 534678382 797337480 631179660 705008533
Other business 14546415 780990 34371584 505085
Total 549224797 798118470 665551244 705513618
Income related information:
In RMB
Contract classification Division 1 Division 2 Total
Commodity type 549224797 549224797
Including
Electric 535578382 535578382
Power generation by-
produc 6586465 6586465
Rent 6046829 6046829
Labour 1013121 1013121
Area 549224797 549224797
Including
Guangdong 549224797 549224797
Market type 549224797 549224797
Power Market
Other market 534678382 534678382
Other 14546415 14546415
Contract type 549224797 549224797
Including
Selling goods 542164847 542164847
Provide access to the
assets 6046829 6046829
Provided Labour 1013121 1013121
Time 549224797 549224797
Including
Recognize at a certain
time point 542164847 542164847
Recognize in a certain
period of time 7059950 7059950
Term
Including
Selling
Including
Total 549224797 549224797
Information related to performance obligations:
Commodity type Usual performance time of performance obligation Important payment Commodity nature
terms
Electric power When power is supplied to the grid company Cash Electric power
settlement/monthly
settlement
187Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
Power generation Cash
by-product When by-products such as fly ash generated by power settlement/monthly Power generation by-product
commodity generation are transported to the agreed delivery place settlement commodity
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 been performed
incompletely but the contract has been signed at the end of the reporting period is RMB 0 of which RMB 0 is
expected to be recognized as income RMB 0 is expected to be recognized as income in the year and RMB0 is
expected to be recognized as income in the year.Other note
5. Investment income
In RMB
Items Amount of current period Amount of previous period
Long-term equity investment income
accounted by cost method 98293539 1570167398
Long-term equity investment income
accounted by equity method 450257096 392738688
Dividend income from investments in
other equity instruments during the 90156139 30182378
holding period
Creditor's right from investments in other
equity instruments during the holding 13770971 13920438
period
Total 652477745 2007008902
XVII. Supplement information
1. Particulars about current non-recurring gains and loss
√ Applicable □ Not applicable
In RMB
Items Amount Notes
Mainly due to Yuejia Company shut-
Non-current asset disposal gain/loss 31707133 down and liquidation of assets to obtain
income.Govemment subsidy recognized in
current gain and loss(excluding those Mainly due to power sales economic
closely related to the Company’s 15402657 policy incentives and subsidies for
business and granted under the state’s various power plant projects.policies)
Other non-business income and
expenditures other than the above 8080287
It is mainly due to the fine for land
Fines and overdue payment fees -5470272 reclamation of Pinghai Power Plant andthe tax delay charge of Guangqian Power
Plant.Non-current assets scrap income 2242304 It is mainly the income of JinghaiCompany's scrapped fixed assets.It is mainly the loss of scrapped fixed
Loss of Non-current assets scrapped -5145026 assets of Jinghai Company Zhongyue
Energy and Yuehua Company.Less: Amount of influence of income tax 13059777
Influenced amount of minor
shareholders’ equity (after tax) 9886637
Total 23870669 --
Details of other profit and loss items that meet the non-recurring profit and loss definition
188Guangdong Electric Power Development Co. Ltd. The Semi-annual Report 2022
□ Applicable√ Not applicable
None
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses
and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information
Disclosure for Companies offering their securities to the public-non-recurring Gains and losses which have been
defined as recurring gains and losses it is necessary to explain the reason.√Applicable□Not applicable
Items Amount involved(RMB) Reason
Value-added tax will be refunded 19790415 Comply with national policies andimmediately regulations and continue to occur
Carbon emission quota used to fulfill the Comply with national policies and
emission reduction obligation -8000000 regulations and continue to occur
2. Return on net asset and earnings per share
Earnings per share
Profit of report period Weighted average return onequity(%) Basic earnings per Diluted earnings pershare(yuan/share） share(yuan/share)
Net profit attributable to the
Common stock shareholders -6.23% -0.2620 -0.2620
of Company.Net profit attributable to the
Common stock shareholders
of Company after deducting -6.34% -0.2666 -0.2666
of non-recurring gain/loss.
3. Differences between accounting data under domestic and overseas accounting standards
（1）．Simultaneously pursuant to both Chinese accounting standards and international accounting standards
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 overseas and
Chinese accounting standards.□ Applicable□√ Not applicable
(3) .Explanation of the reasons for the differences in accounting data under domestic and foreign accounting sta
ndards. If the data that has been audited by an overseas audit institution is adjusted for differences the name of t
he overseas institution should be indicated
4.Other
189
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