粤电力B：2019年半年度报告摘要（英文版）

Stock code: 000539200539 Stock Abbreviation: Yue Dian Li A Yue Dian Li B

Announcement No.: 2019-38

Guangdong Electric power Development Co. Ltd.Summary of the Semi-Annual Report 2019

I. Important notes

The summary is abstract from full-text of summary of the semi-annual report for more details information

investors should found in the full-text of summary of the semi-annual report that published on website of

Shenzhen Stock Exchange and other website appointed by CSRC.Objections of the directors supervisors and senior management

Name Title Content

Statement

Directors other than the following ones have attended the Board meeting to review the interim report.

Name of director absent Title for absent director Reasons for absent Attorney

Wen Shufei Director Due to business Wang Jin

Wen Lianhe Director Due to business Zheng Yunpeng

Liang Peilu Director Due to business Yin Zhongyu

Mao Qinghan Director Due to business Sha Qilin

Ma Xiaoqian Independent Director Due to business Shen Hongtao

Non-standard auditor’s opinion

□ Applicable √Not applicable

Preliminary plan for profit distribution to the common shareholders or turning the capital reserve into the share

capital for the reporting period which has been reviewed and approved at the board meeting

□ Applicable √Not applicable

The company will distribute no cash dividends or bonus shares and has no reserve capitalization plan.The preference share profit distribution pre-plan approved by the Board of Directors

□ Applicable √Not applicable

II. Basic information about the company

1. Company profile

Stock abbreviation Yue Dian Li A Yue Dian Li B Stock code 000539、200539Stock exchange for

listing

Shenzhen Stock Exchange

Contact person and

contact manner

Board secretary Securities affairs Representative

Name Liu Wei Qin Xiao

Address

35/F South Tower Yudean Plaza No.2 Tianhe

Road East GuangzhouGuangdong Province

36/F South Tower Yudean Plaza No.2 Tianhe

Road East GuangzhouGuangdong Province

Tel (020)87570276 (020)87570251

E-mail liuw@ged.com.cn qinxiao@ged.com.cn

2. Major accounting data and financial indicators

May the Company make retroactive adjustment or restatement of the accounting data of the previous years

□ Yes√ No

Reporting period Same period of last year YoY+/-（%）

Operating income（RMB） 12874181250 13894985179 -7.35%

Net profit attributable to the shareholders

of the listed company（RMB）

581569383 448833518 29.57%

Net profit after deducting of non-recurring

gain/loss attributable to the shareholders of

listed company（RMB）

588588917 413141718 42.47%

Cash flow generated by business operation

net（RMB）

3803441801 3795532708 0.21%

Basic earning per share(RMB/Share) 0.1108 0.0855 29.59%

Diluted gains per

share(RMB/Share)(RMB/Share)

0.1108 0.0855 29.59%

Weighted average ROE(%) 2.37% 1.88% 0.49%

As at the end of the

reporting period

As at the end of last year YoY+/-（%）

Gross assets (RMB) 72888042485 73329662306 -0.60%

Net assets attributable to shareholders of

the listed company （RMB）

24551367214 24227302288 1.34%

3.Shareholders and shareholding

In Shares

Total Number of common

shareholders at the end of the

reporting period

98303

Number of shareholders of

preferred stocks of which

voting rights recovered in the

report period(If any)

Shareholdings of Top 10 shareholders

Shareholders

Nature of

shareholder

Proportion

of shares

held（%）

Number of shares

held at period -end

Amount of

restricted shares

held

Number or share

pledged/frozen

State of

Amou

Guangdong Energy Group Co. Ltd.State-owned legal

person

67.39% 3538005285 1893342621

China Securities Finance Co. Ltd.

State-owned legal

person

2.84% 148862420

Shenzhen Guangfa Electric Power

Investment Co. Ltd.State-owned legal

person

2.22% 116693602

Guangdong Electric Power

Development Corporation

State-owned legal

person

1.80% 94367341

Li Zhuo

Domestic Natural

person

0.61% 31932923

Zheng Jianxiang

Domestic Natural

person

0.43% 22625098

Harbin Hali Industry Co. Ltd.

Domestic

Non-State owned

legal person

0.41% 21758045

National Social Security Fund 103

portfolio

Domestic

Non-State owned

legal person

0.36% 18994982

CHINA INT'L CAPITAL CORP HONG Overseas Legal 0.29% 15316066

KONG SECURITIES LTD person

Harbin Daoli District Charity

Foundation

Domestic

Non-State owned

legal person

0.26% 13730793

Explanation on associated relationship among the aforesaid

shareholders

The fourth largest shareholder Guangdong Electric Power

Development Corporation is the wholly-owned subsidiaries of the

largest shareholder Yudean Group. These two companies have

relationships; whether the other shareholders have relationships or

unanimous acting was unknown

Explanation on shareholders participating in the margin

trading business(if any )(See Notes 4)

The Fifth largest shareholder Li Zhuo holds425600 A shares of the

Company through A shares ordinary stock accountand holds

31507323A shares of the Company through stock account with

credit transaction and guarantee hold 31932923 shares of the

Company's stock totally.

The Seventh largest shareholder Harbin Hali Industry Co. Ltd.holds815400 A shares of the Company through A shares ordinary

stock account and holds 20942645A shares of the Company through

stock account with credit transaction and guarantee hold21758045

shares of the Company's stock totally.The Tenth largest shareholder Harbin Daoli District Charity

Foundation holds80187 A shares of the Company through A shares

ordinary stock account and holds 13650606A shares of the

Company through stock account with credit transaction and

guarantee hold 13730793 shares of the Company's stock totally.IV. Change of the controlling shareholder or the actual controller

Change of the controlling shareholder in the reporting period

□ Applicable √ Not Applicable

There was no any change of the controlling shareholder of the Company in the reporting period.

Change of the actual controller in the reporting period

□ Applicable √ Not applicable

There was no any change of the actual controller of the Company in the reporting period.

5.Number of preference shareholders and shareholdings of top 10 of them

□ Applicable √ Not applicable

No preference shareholders in the reporting period

6.Corporate bonds

Are there any corporate bonds publicly offered and listed on the stock exchange which were undue before the

approval date of this report or were due but could not be redeemed in full?

Yes

1.Basic information of corporate bonds

Bond name Bond short name Bond code Due day

Bond balance(ten

thousand)

Interest rate

2012 Corporate bonds of Guangdong Electric

Power Development Co. Ltd..

12 Yudean Bond 112162.SZ March 172020 4030.65 4.95%

(2) As at the end of the reporting period the company's major financial indicators

Ten thousands

Items

As at the end of the reporting

period

As at the end of last year YoY+/-（%）

Debt ratio 55.92% 57.02% -1.10%

Items Reporting period Same period of last year YoY+/-（%）

EBITDA interest coverage ratio 2.41 2.56 -5.86%

III. Performance discussion & analysis

1．Performance Review for Reporting period

Is the company subject to any disclosure requirements for special industries?

In the first half of 2019the total electricity consumption of Guangdong Province was 302.61 billion kWh a YOY

increase of 6% the growth rate dropped by 6% compared with the same period of last year. The annual output of

West-area Power to Guangdong reached 91.85 billion kWh-over-delivering 22.57 billion kWh an increase of

20.7%.Affected by the YOY growth of 20.7% from Western Power supply the 28% growth of nuclear power (new

installed capacity of nuclear power of 2.84 million kilowatts) and the province's hydropower units the on-grid

power of Gangdong's unified management for core-fired power units declined by nearly 15% the Company's

on-grid power of the core-fired power units also fell by 13.65% YOY. In the first half of 2019 The Company

completed the on-grid power supply of 31.523 billion kWh down 13.18% YOY; the average utilization hours of

holding coal-fired units was 1824 hours down 390 hours YOY; the average utilization hours of gas-fired units

was 1984 hours an increase of 324 hours; the average utilization hours of wind turbines was 1136 hours an

increase of 311 hours YOY.

In 2019 the scale of marketization transaction in Guangdong Province continued to expand with the total volume

reached 200 billion kWh (an increase of 27% over 2018). According to the data released by the Guangdong

Electric Power Trading Center the 2019 annual bilateral negotiation transaction volume organized by the

Guangdong Electric Power Trading Center was 118.9 billion kWh and the average transaction price difference

was -4.509 Cent(RMB)/kWh. In the first half of 2019 the monthly concentrated bidding transaction power was

27.211 billion kWh and the average clearing spread was -3.2 Cent(RMB)/kWh. In 2019 the Company's

budgetary on-grid electricity was 70.981 billion kWh of which the base electricity was 21.12 billion kWh

accounting for about 30%; the annual long-term contracted was 35.66 billion kWh accounting for about 50%; the

rest was monthly bidding volume accounting for about 20%. In the first half of 2019 the average selling price of

the Company's consolidated statements was 459.74 yuan / thousand kWh (excluding tax) an increase of 20.16

yuan / thousand kWh.In the first half of 2019 by the comprehensive impact of the year-on-year decline in the price of coal the dividend

from the implementation of tax reduction and fee reduction policy and the Company's effective control of various

costs and expenses the Company's profit went up YOY. As of June 2019 the total assets of the Company's

consolidated statements were 72.888 billion yuan a decrease of 0.6% from the beginning of the year and the

equity attributable to shareholders of the parent company was 24.551 billion yuan an increase of 1.34% over the

beginning of the year. The company achieved a consolidated statement operating income of 12.874 billion yuan

down 7.35% year-on-year; the net profit attributable to shareholders of the parent company was 582 million yuan

an increase of 29.57%; the earnings per share was 0.1108 yuan. The total liabilities in the Company's consolidated

statement were 40.758 billion yuan and the asset-liability ratio was 55.92%.In the first half of 2019 the #6 machine of Huizhou Natural Gas Power Generation Project which was controlled

by the Company was put into commercial operation increasing the controllable installed capacity of 460000

kilowatts. As of June 2019 the Company's controllable installed capacity was 21.42 million kilowatts of which:

the controllable installed capacity of coal-fired power was 17.14 million kilowatts accounting for 80.03%; the

controllable installed capacity of gas-power was 3.72 million kilowatts accounting for 17.37%; the controllable

installed capacity of wind power hydropower and other renewable energy power was 560000 kilowatts

accounting for 2.60%.2.Maters related to financial report

(1) Reason for changes in accounting policies accounting estimates and accounting methods as compared to the

financial report for the prior year

√Applicable □ Not applicable

Since January 1 2019 the company has adjusted the depreciation period of fixed assets of Shajiao A Power Plant.The net profit attributable to the parent company is expected to decrease by about 174 million yuan in 2019 and

49 million yuan annually from 2020 to 2023 and the owners' equity attributable to the parent company is

expected to decrease by about 174 million yuan in 2019 and 49 million yuan annually from 2020 to 2023.The above matters is available as Announcement No. 2019-03 released by China Securities Journal Securities

Times as well as http://www.cninfo.com.cn on the date of January 2620192019.

2. According to the Ministry of Finance's Notice on Revising and Issuing the Format of Financial Statements for

General Enterprises in 2018 (CK [2018] No.15) and notices on the relevant accounting standards for new

financial instruments the company's accounting policies will be changed. The above matters is available as

Announcement No. 2019-18 released by China Securities Journal Securities Times as well as

http://www.cninfo.com.cn on the date of April 122019.

(2) Reason for retrospective restatement to correct major accounting errors during the reporting period

□ Applicable √ Not applicable

No such cases in the reporting period.

(3) Reason for changes in scope of the consolidated financial statements as compared to the financial report for

the prior year

√ Applicable □Not applicable