Guangdong Electric Power Development Co. Ltd.October 2020
1 Important notes
The Board of Directors，the Supervisory Committee the directors the supervisors and executives of the
Company guarantee that there are no significant omissions fictitious or misleading statements carried in the
Quarterly Report and we will accept individual and joint responsibilities for the truthfulness accuracy and
completeness of the Quarterly Report.Other directors attending the Meeting for Quarterly Report deliberation except for the followed:
Name of director absent Title for absent director Reasons for absent Attorney
Rao Subo Director Due to business Wang Jin
Chen Ze Director Due to business Wang Jin
Wen Lianhe Director Due to business Zheng Yunpeng
Yan Ming Director Due to business Zheng Yunpeng
Liang Peilu Director Due to business Li Baobing
Mao Qinghan Director Due to business Ma Xiaoqian
Mr. Wang Jin Person in charge of the Company Mr.Liu Wei Person in charge of accounting works Mr.Meng
Fei Chief of the accounting organ (chief of accounting ) hereby confirm the authenticity and completeness of the
financial report enclosed in this report.II. Basic information about the company
I. Main financial data and indices
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.□ Yes √ No
As at the end of the
reporting period
As at the end of last year
Changed （%）over end of
prev. year
Gross assets（Yuan） 81793310492 75472027123 8.38%
Net assets attributable to the
shareholders of the listed company（Yuan）
27099905152 26178241077 3.52%
Reporting period
Increase/decrease over
the same period of last
year（%）
Between beginning of
the year to the end of
the report period
Changed （%）over
end of prev. year
Operating revenue（Yuan） 8313722282 -3.85% 20853640105 -3.10%
Net profit attributable to the
shareholders of the listed company（Yuan）
755703910 -0.21% 1569388405 17.22%
Net profit after deducting of
non-recurring gain/loss attributable to
the shareholders of listed company（Yuan）
753661026 4.78% 1538203735 17.61%
Net cash generated from /used in
operating activities（Yuan）
2470190633 -16.83% 6488412530 -4.21%
Basic earning per share(Yuan/Share) 0.1439 -0.21% 0.2989 17.22%
Diluted gains per share(Yuan/Share) 0.1439 -0.21% 0.2989 17.22%
Weighted average return on
equity（%）
2.83% -0.35% 6.09% 0.67%
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Items
Amount
(Year-beginning
to the end of the
report period.)
Notes
Non-current asset disposal gain/loss(including the write-off part
for which assets impairment provision is made)
51176503
Yuejia Company liquidated the proceeds from
the sale of machinery and equipment.Govemment subsidy recognized in current gain and
loss(excluding those closely related to the Company’s business
and granted under the state’s policies)
10656170
Mainly due to Zhenneng Company received
unemployment insurance rebate and
Guangqian Company received subsidy for
stable growth of electricity.Other non-business income and expenditures other than the above 1383385
Fines and overdue payment fees -2784751
Non-current assets scrap income 8035492
Mainly due to the income from scrapped fixed
assets of Zhongyue Company and Pinghai
Power Plant.Loss of Non-current assets scrapped -2265819
Less: Amount of influence of income tax 16550245
Influenced amount of minor shareholders’ equity (after tax) 18466065
Total 31184670 --
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Compaines Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses it is necessary to explain the reason.
□ Applicable√ Not applicable
None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.II. Total number of shareholders at the period-end and shareholdings of top 10 shareholders
1. About Total Common Shareholders Total Preference Shareholders with the Voting Power Recovered
and the Shares Held by Top Ten Common Shareholders
In shares
Total number of common shareholders at the period-end 89268
Total preference
shareholders with the
voting power recovered at
the end of the reporting
period(if any)
0
Shares held by the top 10 shareholders
Shareholder name
Properties of
shareholder
Share
proportion
%
Quantity
Amount of
tradable shares
with Conditional
held
Pledging or freezing
Status of
the shares
Quantity
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
Guangdong Development Group
Incorporated
State-owned legal
person
2.22% 116693602
Guangdong Electric Power Development
Corporation
State-owned legal
person
1.80% 94367341
Li Zhuo
Domestic Natural
person
1.15% 60527911
Zheng Jianxiang
Domestic Natural
person
0.47% 24804886
Harbin Hali Industry Co. Ltd.
Domestic
Non-State owned
legal person
0.40% 20942945
VANGUARD TOTAL INTERNATIONAL
STOCK INDEX FUND
Overseas Legal
person
0.35% 18553952
CHINA INT'L CAPITAL CORP HONG
KONG SECURITIES LTD
Overseas Legal
person
0.29% 15216066
Harbin Daoli District Charity Foundation
Domestic
Non-State owned
legal person
0.26% 13667406
Shares held by the Top 10 Shareholders of Non-restricted shares
Shareholders’ Names
Number of the non-restricted shares
held
Share type
Share type Quantity
Guangdong Energy Group Co. Ltd. 1644662664 RMB Common shares 1644662664
China Securities Finance Co. Ltd. 148862420 RMB Common shares 148862420
Guangdong Development Group Incorporated 116693602 RMB Common shares 116693602
Guangdong Electric Power Development
Corporation
94367341 RMB Common shares 94367341
Li Zhuo 60527911 RMB Common shares 60527911
Zheng Jianxiang 24804886
Foreign shares placed
in domestic exchange
24804886
Harbin Hali Industry Co. Ltd. 20942945 RMB Common shares 2094294
VANGUARD TOTAL INTERNATIONAL STOCK
INDEX FUND
18553952
Foreign shares placed
in domestic exchange
18553952
CHINA INT'L CAPITAL CORP HONG KONG
SECURITIES LTD
15216066
Foreign shares placed
in domestic exchange
15216066
Harbin Daoli District Charity Foundation 13667406 RMB Common shares 13667406
Explanation on associated relationship or concerted
action of the above shareholders
The fourth largest shareholder Guangdong Electric Power Development
Corporation is the wholly-owned subsidiaries of the largest shareholder
Guangdong Energy Group. These two companies have relationships; whether
the other shareholders have relationships or unanimous acting was unknown.
Explanation on associated relationship or concerted
action of the above shareholders
The Fifth largest shareholder Li Zhuo holds 1125720 A shares of the
Company through A shares ordinary stock account and holds 59402191A
shares of the Company through stock account with credit transaction and
guarantee. hold 60527911 shares of the Company's stock totally.The Seventh largest shareholder Harbin Hali Industry Co. Ltd. holds300 A
shares of the Company through A shares ordinary stock account and holds
20942645 A shares of the Company through stock account with credit
transaction and guarantee hold 20942945 shares of the Company's stock to
The Tenth largest shareholder Harbin Daoli District Charity Foundation
holds16800 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 13667406 shares of the Company's
stock totally.Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a
buy-back agreement dealing in reporting period.□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the
report period
□ Applicable √Not applicable
III. Significant Events
I. Particular about large-margin change of main accounting statement item and financial index and its
reason.
√ Applicable □ Not applicable
1. In the first three quarters of 2020 the Company completed the combined on-gird power of 51.689 billion kWh
down 1.63% YOY the average on-grid price in the consolidated statement was 445.76 yuan/thousands kWh
(including tax the same below) up 14.84 yuan/thousands kWh. The cost of fuel for power generation decreased by
RMB 1314493800 a decrease of 10.17%. With the continuous improvement of the epidemic prevention and
control situation in Guangdong Province and the steady recovery of social and economic operations the Company's
power production in the third quarter of 2020 was generally stable and the main cost and expense control effects
were good. With the influence of factors such as coal price falling the profit margin of the main business was
certainly increased and the net profit attributable to shareholders of the parent company in the first three quarters of
2020 was RMB 1569388400 a year-on-year increase of 17.22%.
2. During the reporting period the asset impairment losses increased by RMB 111916100 YOY an increase of
232.20%. The main reason was: on the one hand the #1 unit of Sha A Power Plant was expected to be scrapped
before the end of this year with an impairment loss of RMB 60878800; on the other hand the Company’s
headquarter recovered the debt investment fund of RMB 48197600 that had been withdrawn for impairment in
previous years.
3. The net non-operating income and expenditure increased by RMB 25089900 YOY an increase of 286.96%. It’s
mainly because the Company scrapped fixed assets leading to the net non-operating income and expenditure
increased by RMB 22 million yuan YOY.
4. During the reporting period the corporate income tax expenses increased by RMB 300222500 YOY an
increase of 48.93%. It’s mainly due to the Company's better YOY profit this year resulting in an increase in income
tax expenses.II. The progress of significant events and influence as well as the analysis and explanation on resolving
proposal.
√ Applicable □ Not applicable
1. During the reporting period the Company received the Guangdong Provincial Development and Reform
Commission's "Notice on Adjusting the On-grid Price of Natural Gas Generation Power in Our Province" (Yue Fa
Gai Price No. 284 - [2020]). In order to promote the healthy development of the natural gas power generation
industry and appropriately reduce the electricity cost of the whole society the Guangdong Provincial Development
and Reform Commission had decided to further adjust the on-grid price for natural gas power in our province.
According to the Company's preliminary calculations this adjustment of natural gas power price is expected to
affect from August to December 2020 to reduce revenue by RMB 61.61 million net profit by RMB 46.21 million
and net profit attributable to parent company by RMB 38.75 million.
2. During the reporting period Mr. Lin Weifeng Workers' Supervisor of Guangdong Electric Power Development
Co. Ltd. no longer serves as workers' supervisor of the Company due to job changes but still serves as the head
of the finance department at Shajiao A Power Plant-a branch of the Company. According to the relevant provisions
of the Company's "Articles of Association" Mr. Li Jianwen (with resume attached) was democratically elected by
the Company's employees as the workers' director of the Company's ninth board of supervisors with his term of
office is from the date of the announcement to the date of expiry of the current board of supervisors.
3. In order to implement the requirements of deepening the reform of state-owned enterprises and improve the
level of integration of industry and finance Approved by the 14th meeting of the ninth board of directors of the
Company on August 26 2020 The board of directors agreed to the Company participating in the capital increase
and share expansion of Guangdong Energy Financial Leasing Co. Ltd and obtaining 25% equity of Guangdong
Energy Financial Leasing Co. Ltd by injecting RMB 512958300 into the financial leasing company. After the
capital injection it will hold its registered capital of RMB 500 million. The price of the capital injection shall be
determined on the basis of the net asset assessment value of the financial leasing company recorded and approved
by the competent authority. Currently the Company is promoting the capital increase of the financial leasing
company as planned.
4. In order to accelerate the large-scale development of the Company’s new energy power projects increase the
proportion of installed capacity of clean energy Approved by the 14th meeting of the ninth board of directors of the
Company on August 26 2020 the board of directors agreed in principle that the wholly-owned
subsidiary-Guangdong Wind Power Co. Ltd acquires the 100% equity of Dacheng County Dun’an New Energy
Co. Ltd in the form of pre-acquisition. The total investment in the acquisition shall not exceed 800 million yuan
and the specific transaction price shall be based on the asset evaluation results.The transaction deposit of 80
million yuan for the equity acquisition transaction will be resolved by the Company’s capital increase to
Guangdong Wind Power Company. the Company is currently carrying out the pre-acquisition work of Dun’an New
Energy Company as planned.
5. Approved by the 14th meeting of the ninth board of directors of the Company on August 26 2020 It is agreed to
hire PricewaterhouseCoopers Zhongtian Certified Public Accountants (special general partnership) as the
domestic and overseas audit institution of the company in 2020.This proposal must be submitted to the
Provisional General Meeting of Shareholders for consideration.
6. As of 17: 32 September 10 2020 the Unit 1 of Guangdong Yudean Maoming Bohe Power Plant's 2×1 millionkilowatt “Replacing Small Units with Large Ones " power generation project built by the Company's holdingsubsidiary Guangdong Yudean Bohe Coal Power Co. Ltd was successfully passed the 168-hour full-load trial
operation and marked it’s officially put into commercial operation.
7. The term of the Company's ninth board of directors and ninth board of supervisors expired on September 18 2020.
As the preparations for the nomination of candidates for the new board of directors and board of supervisors have
not been completed the election of the change of the Company's board of directors and board of supervisors will be
postponed and the tenure of the special committees of the board of directors and the senior management staff has
also been extended accordingly. Currently the Company is actively promoting the election for the change of board
of directors and board of supervisors.
Announcement Date of disclosure Website for disclosure
Announcement on the adjustment of on-grid electricity prices for
gas-fired power plants
August 52020 http//www.cninfo.com.cn.
Announcement on changes in Employee Workers’ Supervisor August 142020 http//www.cninfo.com.cn.
Announcement on Related transaction in Capital Increase and Share
Expansion of Guangdong Energy Finance Leasing Co. Ltd.
August 282020 http//www.cninfo.com.cn.
Announcement of Resolutions of the 14th Meeting of the Ninth
Board of Directors
August 282020 http//www.cninfo.com.cn.
Announcement on Hiring the Company's Annual Audit Institution September 12020 http//www.cninfo.com.cn.
Voluntary Information Disclosure Announcement Regarding Project
Commissioning
September 112020 http//www.cninfo.com.cn.Reminder announcement on the postponement of the change of board
of directors and board of supervisors
October 172020 http//www.cninfo.com.cn.Progress in the implementation of share repurchase
□ Applicable √ Not applicable
Progress in the implementation of the reduction of the repurchased shares by means of centralized bidding
□ Applicable √ Not applicable
III. Commitments finished in implementation by the Company shareholders actual controller acquirer
directors supervisors senior executives or other related parties in the reporting period and commitments
unfinished in implementation at the end of the reporting period
□ Applicable √Not applicable
No such cases in the reporting period.IV. Financial asset investment
1.Securities investment
√ Applicable □Not applicable
In RMB
Security
category
Security
code
Stock
Abbr
eviati
on:
Initial
investment
cost
Mode of
accounti
ng
measure
ment
Book
value
balance at
the
beginning
of the
reporting
period
Changes
in fair
value of
the this
period
Cumulativ
e fair
value
changes in
equity
Purc
hase
amo
unt
in
the
this
peri
od
Sale
amo
unt
in
the
this
peri
od
Gain/loss
of the
reporting
period
Book
value
balance at
the end of
the
reporting
period
Accou
nting
items
Source
of the
shares
Domesti
c and
foreign
stocks
000027
Shen
zhen
Ener
gy
15890628
Fair
value
measure
ment
78246000 -10710000 51645372 630000 67536000
Other
equity
instru
ment
Invest
ment
Own-F
unds
Domesti
c and
foreign
stocks
600642
Shen
ergy
235837988
Fair
value
measure
ment
322642373 -17214998 69589387 12217095 305427375
Other
equity
instru
ment
Invest
ment
Own-F
unds
Domesti
c and
foreign
stocks
831039
NEE
Q
3600000
Fair
value
measure
ment
7182000 4338000 7920000 450000 11520000
Other
equity
instru
ment
Invest
ment
Own-F
unds
Total 255328616 -- 408070373 -23586998 129154759 0 0 13297095 384483375 -- --
Disclosure date for the
notice of approval by
the Board (If any)
October 31 2019
Disclosure date for the
notice of approval by
shareholders’ Meeting
(If any)
2.Investment in derivatives
□ Applicable √Not applicable
There is no derivative investment during the report period.V. Progress of investment projects with raised funds
□ Applicable √Not applicable
VI. Prediction of 2020 business performance
Estimation on accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation on reason
□ Applicable √ Not applicable
VII. Major contracts for daily operations
□ Applicable √ Not applicable
VIII. Entrusted Financial Management
□ Applicable √Not applicable
There is no Entrusted Financial Management during the report period.IX. External guarantee get out of line
□ Applicable √Not applicable
The Company has no external guarantee get out of the line in the Period
X. Controlling shareholder and its related parties occupying non-business capital of the listed company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company
in Period
XI. The registration form of acceptance of investigation communication and interview in the report period
for future reference
□ Applicable √Not applicable
No such cases in the reporting period.IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by: Guangdong Electric Power Development Co. Ltd.In RMB
Items September 302020 December 31 2019
Current asset：
Monetary fund 6594174586 5081641969
Settlement provision
Outgoing call loan
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 3277998883 3197690464
Financing of receivables
Prepayments 924266841 605314333
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts receivable
Other account receivable 316027817 272801588
Including：Interest receivable 21528655 20866069
Dividend receivable
Repurchasing of financial assets
Inventories 1890925907 1817059269
Contract assets
Assets held for sales
Non-current asset due within 1 year 50012703 28865131
Other current asset 484773258 305595567
Total of current assets 13538179995 11308968321
Non-current assets：
Loans and payment on other’s behalf disbursed
Creditor's right investment
Other Creditor's right investment
Long-term receivable 65856346
Long term share equity investment 6519452671 6455784562
Other equity instruments investment 3188520935 3142371373
Other non-current financial assets
Property investment 50180522 52093631
Fixed assets 41946261667 38555718718
Construction in progress 9583892764 10882003846
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 2149264203 1787738640
Development expenses
Goodwill 2449886 2449886
Long-germ expenses to be amortized 20009625 19473586
Deferred income tax asset 303803785 445709226
Other non-current asset 4491294439 2753858988
Total of non-current assets 68255130497 64163058802
Total of assets 81793310492 75472027123
Current liabilities
Short-term loans 7134452824 5904132791
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 1579992546 1364236650
Account payable 2419111438 2465154162
Advance receipts 682983 432714
Contract liabilities 152249845
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 493618916 242510538
Tax payable 714411002 571377151
Other account payable 5100733767 4042117097
Including：Interest payable
Dividend payable 9771322 9771322
Fees and commissions payable
Reinsurance fee payable
Liabilities held for sales
Non-current liability due within 1 year 2016804892 3182980482
Other current liability 1590334825 1912282192
Total of current liability 21202393038 19685223777
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 18325551691 16587103380
Bond payable 3014377193 1496631799
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 2955816598 2485346245
Long-term remuneration payable to staff 120176705 134988860
Expected liabilities
Deferred income 139840678 139256513
Deferred income tax liability 533536101 537385614
Other non-current liabilities 200000000 216405569
Total non-current liabilities 25289298966 21597117980
Total of liability 46491692004 41282341757
Owners’ equity
Share capital 5250283986 5250283986
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 5096918174 5096918174
Less：Shares in stock
Other comprehensive income 1658452796 1676143044
Special reserve
Surplus reserves 8515360638 8245767593
Common risk provision
Retained profit 6578889558 5909128280
Total of owner’s equity belong to the parent company 27099905152 26178241077
Minority shareholders’ equity 8201713336 8011444289
Total of owners’ equity 35301618488 34189685366
Total of liabilities and owners’ equity 81793310492 75472027123
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 September 302020 December 31 2019
Current asset：
Monetary fund 373751028 224504289
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 126472923 209249102
Financing of receivables
Prepayments 26680500 43002000
Other account receivable 152656368 108149278
Including：Interest receivable 3173329 689092
Dividend receivable 2652502
Inventories 132984215 151518056
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset 271301 1228009
Total of current assets 812816335 737650734
Non-current assets：
Creditor's right investment
Other Creditor's right investment
Long-term receivable 596000000 340000000
Long term share equity investment 27470574979 26514106513
Other equity instruments investment 3188520935 3142371373
Other non-current financial assets
Property investment 6548745 7025443
Fixed assets 587086827 706435221
Construction in progress 3415153 14945019
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 82733157 85839959
Development expenses
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset
Other non-current asset 208353879 356004000
Total of non-current assets 32143233675 31166727528
Total of assets 32956050010 31904378262
Current liabilities
Short-term loans 1709620917 1401641708
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 84028584 156122676
Advance receipts
Contract Liabilities 5364445
Employees’ wage payable 112893153 63480425
Tax payable 11685237 44298675
Other account payable 53545127 71126853
Including：Interest payable
Dividend payable 9771322 9771322
Liabilities held for sales
Non-current liability due within 1 year 500763889 1554314700
Other current liability 1604091803 1912282192
Total of current liability 4081993155 5203267229
Non-current liabilities：
Long-term loan
Bond payable 2315554141 798857333
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable 3466237
Long-term remuneration payable to staff 32102143 36570958
Expected liabilities
Deferred income 39984807 39984807
Deferred income tax liability 529296935 535193684
Other non-current liabilities
Total non-current liabilities 2916938026 1414073019
Total of liability 6998931181 6617340248
Owners’ equity
Share capital 5250283986 5250283986
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 5599980903 5599980903
Less：Shares in stock
Other comprehensive income 1658452796 1676143044
Special reserve
Surplus reserves 8515360638 8245767593
Retained profit 4933040506 4514862488
Total of owners’ equity 25957118829 25287038014
Total of liabilities and owners’ equity 32956050010 31904378262
3.Consolidated Income statement of the Report period
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 8313722282 8646351018
Incl：Business income 8313722282 8646351018
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 6961633784 7497679016
Incl：Business cost 6384412514 6928192466
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 61578856 71719992
Sales expense 11771851 11243947
Administrative expense 218078599 174317245
R & D costs 15185561 1289004
Financial expenses 270606404 310916362
Including：Interest expense 289291728 319264192
Interest income 19873826 11283318
Add: Other income 1681229 6877778
Investment gain（“-”for loss） 171148439 136008997
Incl: investment gains from affiliates 158931344 134803712
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
Impairment loss of assets -46974810 48197647
Assets disposal income -273
III. Operational profit（“-”for loss） 1477943083 1339756424
Add ：Non-operational income 8483098 3309345
Less: Non-operating expense 656594 1790954
IV. Total profit(“-”for loss) 1485769587 1341274815
Less：Income tax expenses 440869839 303700779
V. Net profit 1044899748 1037574036
(I) Classification by business continuity
1.Net continuing operating profit 1044899748 1037574036
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of parent company 755703910 757309917
2.Minority shareholders’ equity 289195838 280264119
VI. Net after-tax of other comprehensive income -12081166 -22817126
Net of profit of other comprehensive income attributable to own
ers of the parent company.
-12081166 -22817126
（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting
period
-12081166 -22817126
1.Re-measurement of defined benefit plans of changes in net de
bt or net assets
2.Other comprehensive income under the equity method investe
e can not be reclassified into profit or loss.
3. Changes in the fair value of investments in other equity
instruments
-12081166 -22817126
4. Changes in the fair value of the company’s credit risks
5.Other（II）
Other comprehensive income that will be reclassified into profit
or loss.
1.Other comprehensive income under the equity method investe
e can 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 Min
ority shareholders’ equity
VII. Total comprehensive income 1032818582 1014756910
Total comprehensive income attributable to the owner of the
parent company
743622744 734492791
Total comprehensive income attributable minority
shareholders
289195838 280264119
VIII. Earnings per share
（I）Basic earnings per share 0.1439 0.1442
(II)Diluted earnings per share 0.1439 0.1442
The current business combination under common control the net profits of the combined party before achieved ne
t profit of RMB 0.00 last period the combined party realized RMB0.00.Legal representative ：Wang Jin
Person-in-charge of the accounting work：Liu Wei
Person-in -charge of the accounting organ：Meng Fei
4.Income statement of the Parent Company of the Report period
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 356610269 635806632
Incl：Business cost 314268839 594224355
Business tax and surcharge 1684037 2450238
Sales expense 567210 422950
Administrative expense 28556216 28185676
R & D expense 161909 360401
Financial expenses 51583168 52177490
Including：Interest expenses 51993612 52540192
Interest income 1670271 1454556
Add：Other income
Investment gain（“-”for loss） 277223757 223828335
Including: investment gains from affiliates 159656349 134624138
Financial assets measured at amortized cost cease to be
recognized as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss
Impairment loss of assets -46974810 48647647
Assets disposal income
II. Operational profit（“-”for loss） 190199746 230461503
Add ：Non-operational income 4874977 174784
Less：Non -operational expenses 45210 702682
III. Total profit(“-”for loss) 195029513 229933605
Less：Income tax expenses
IV. Net profit 195029513 229933605
1.Net continuing operating profit 195029513 229933605
2.Termination of operating net profit
V. Net after-tax of other comprehensive income -12081168 -22817126
（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting
period
-12081168 -22817126
1.Re-measurement of defined benefit plans of changes in net de
bt or net assets
2.Other comprehensive income under the equity method investe
e can not be reclassified into profit or loss.
3. Changes in the fair value of investments in other equity
instruments
-12081168 -22817126
4. Changes in the fair value of the company’s credit risks
5.Other
(II)Other comprehensive income that will be reclassified into pr
ofit or loss
1.Other comprehensive income under the equity method investe
e can 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
VI. Total comprehensive income 182948345 207116479
VII. Earnings per share
（I）Basic earnings per share 0.0371 0.0438
(II)Diluted earnings per share 0.0371 0.0438
5. Consolidated Income statement between the beginning of the year and end of the report period
In RMB
Items Amount in this period Amount in last period
I. Turnover 20853640105 21520532268
Including：Operating income 20853640105 21520532268
Interest income
Insurance fee earned
Commission charge and commission income
II. Total operating costs 18097475127 19534660935
Including ：Operating costs 16535385536 17952335942
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Appropriation of deposit for dutynet
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 159730933 165085350
Sales expense 34666408 24088735
Administrative expense 519754272 445202049
R & D expense 16016670 1636527
Financial expenses 831921309 946312332
Including：Interest expense 883583234 983273645
Interest income 55714232 42944823
Add：Other income 15169944 46350634
Investment gain（“-”for loss） 407217504 440490979
Including: investment gains from affiliates 373629965 408421926
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 20911 -523441
Impairment loss of assets -63718440 48197647
Assets disposal income 51176503
III. Operating profit（“-”for loss） 3166031400 2520387152
Add ：Non-operating income 25351020 8602532
Less: Non-operating expense 13684188 22025650
IV. Total profit(“-”for loss) 3177698232 2506964034
Less：Income tax expenses 913749251 613536709
V. Net profit 2263948981 1893427325
(I) Classification by business continuity
1.Net continuing operating profit 2263948981 1893427325
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of parent company 1569388405 1338879300
2.Minority shareholders’ equity 694560576 554548025
VI. Net after-tax of other comprehensive income -17690248 34695456
Net of profit of other comprehensive income attributable to ow
ners of the parent company.
-17690248 34695456
（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting
period
-17690248 34695456
1.Re-measurement of defined benefit plans of changes in net de
bt or net assets
2.Other comprehensive income under the equity method invest
ee can not be reclassified into profit or loss.
3. Changes in the fair value of investments in other equity
instruments
-17690248 34695456
4. Changes in the fair value of the company’s credit risks
5.Other
(II)Other comprehensive income that will be reclassified into pr
ofit or loss
1.Other comprehensive income under the equity method invest
ee can 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 Mi
nority shareholders’ equity
VII. Total comprehensive income 2246258733 1928122781
Total comprehensive income attributable to the owner of the
parent company
1551698157 1373574756
Total comprehensive income attributable minority
shareholders
694560576 554548025
VIII. Earnings per share
（I）Basic earnings per share 0.2989 0.2550
(II)Diluted earnings per share 0.2989 0.2550
The current business combination under common control the net profits of the combined party before achieved ne
t profit of RMB 0.00 last period the combined party realized RMB0.00.Legal representative ：Wang Jin
Person-in-charge of the accounting work：Liu Wei
Person-in -charge of the accounting organ：Meng Fei
6.Income Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I. Revenue 826164433 1620715714
Including ：Operating costs 816067727 1572358236
Business tax and surcharge 5489002 8340931
Sales expense 1831908 1098839
Administrative expense 82641254 65049565
R & D expense 161909 630094
Financial expenses 162667973 153134251
Including：Interest expenses 164915238 154449687
Interest income 3993460 3932287
Add：Other income 44061 10000
Investment gain（“-”for loss） 1612809083 1289334443
Including: investment gains from affiliates 371180201 404708029
Financial assets measured at amortized cost cease to be
recognized as income
Net exposure hedging income
Changing income of fair value
Credit impairment loss 20911 -303753
Impairment loss of assets -63718440 48647647
Assets disposal income 157963 3218915
II. Operating profit（“-”for loss） 1306618238 1161011049
Add ：Non-operating income 14662914 182626
Less：Non -operating expenses 1419294 1884087
III. Total profit(“-”for loss) 1319861858 1159309588
Less：Income tax expenses 2056715 47879436
IV. Net profit 1317805143 1111430152
1.Net continuing operating profit 1317805143 1111430152
2.Termination of operating net profit
V. Net after-tax of other comprehensive income -17690248 34695456
（I）Other comprehensive income items that will not be
reclassified into gains/losses in the subsequent accounting
period
-17690248 34695456
1.Re-measurement of defined benefit plans of changes in net d
ebt or net assets
2.Other comprehensive income under the equity method invest
ee can not be reclassified into profit or loss.
3. Changes in the fair value of investments in other equity
instruments
-17690248 34695456
4. Changes in the fair value of the company’s credit risks
5.Other（II）
Other comprehensive income that will be reclassified into profi
t or loss.
1.Other comprehensive income under the equity method invest
ee can 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
VI. Total comprehensive income 1300114895 1146125608
VII. Earnings per share
（I）Basic earnings per share 0.2510 0.2117
(II)Diluted earnings per share 0.2510 0.2117
7. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or rending of services 23410418937 24362498308
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 127569517 58799293
Other cash received from business operation 279600355 243645593
Sub-total of cash inflow 23817588809 24664943194
Cash paid for purchasing of merchandise and services 13959789469 15275232014
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 for Outgoing call loan
Cash paid for interest processing fee and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 1053661424 1131162005
Taxes paid 1779907829 1014809741
Other cash paid for business activities 535817557 470163457
Sub-total of cash outflow from business activities 17329176279 17891367217
Net cash generated from /used in operating activities 6488412530 6773575977
II. Cash flow generated by investing
Cash received from investment retrieving 102820430
Cash received as investment gains 343549395 201960518
Net cash retrieved from disposal of fixed assets intangible
assets and other long-term assets
278790688
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received 10000000
Sub-total of cash inflow due to investment activities 632340083 304780948
Cash paid for construction of fixed assets intangible assets and
other long-term assets
5480965047 3000250669
Cash paid as investment 70294338 79035790
Net increase of loan against pledge
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 5551259385 3079286459
Net cash flow generated by investment -4918919302 -2774505511
III.Cash flow generated by financing
Cash received as investment 4400000 512000000
Including: Cash received as investment from minor
shareholders
4400000 512000000
Cash received as loans 18088592531 10903258541
Other financing –related cash received 2546535 1038130
Sub-total of cash inflow from financing activities 18095539066 11416296671
Cash to repay debts 15936421657 13544754488
Cash paid as dividend profit or interests 2210125314 1795543714
Including: Dividend and profit paid by subsidiaries to minor
shareholders
245761088 385697942
Other cash paid for financing activities 5952486 3335383
Sub-total of cash outflow due to financing activities 18152499457 15343633585
Net cash flow generated by financing -56960391 -3927336914
IV. Influence of exchange rate alternation on cash and cash
equivalents
-220
V.Net increase of cash and cash equivalents 1512532617 71733552
Add: balance of cash and cash equivalents at the beginning of
term
5079641969 5570382893
VI ..Balance of cash and cash equivalents at the end of term 6592174586 5642116445
8. Cash Flow Statement of the Parent Between the Beginning of the Year and End of the Report Period
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or rending of services 958831367 1820859152
Tax returned 1797630
Other cash received from business operation 76854450 46901686
Sub-total of cash inflow 1037483447 1867760838
Cash paid for purchasing of merchandise and services 689992723 1338827716
Cash paid to staffs or paid for staffs 195677333 202912167
Taxes paid 71326703 70035488
Other cash paid for business activities 42084971 43410776
Sub-total of cash outflow from business activities 999081730 1655186147
Net cash generated from /used in operating activities 38401717 212574691
II.Cash flow generated by investing
Cash received from investment retrieving 16460000 348864150
Cash received as investment gains 1553075401 1057794667
Net cash retrieved from disposal of fixed assets intangible
assets and other long-term assets
855007 6281001
Net cash received from disposal of subsidiaries or other
operational units
Other investment-related cash received
Sub-total of cash inflow due to investment activities 1570390408 1412939818
Cash paid for construction of fixed assets intangible assets
and other long-term assets
13312373 26677506
Cash paid as investment 1113926727 1445721936
Net cash received from subsidiaries and other operational units
Other cash paid for investment activities
Sub-total of cash outflow due to investment activities 1127239100 1472399442
Net cash flow generated by investment 443151308 -59459624
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 6099335332 2398950000
Other financing –related ash received 2546535 1035360
Sub-total of cash inflow from financing activities 6101881867 2399985360
Cash to repay debts 5600000000 2000000000
Cash paid as dividend profit or interests 831816281 465720875
Other cash paid for financing activities 2371652 2018021
Sub-total of cash outflow due to financing activities 6434187933 2467738896
Net cash flow generated by financing -332306066 -67753536
IV. Influence of exchange rate alternation on cash and cash
equivalents
-220
V.Net increase of cash and cash equivalents 149246739 85361531
Add: balance of cash and cash equivalents at the beginning of
term
224504289 385577464
VI ..Balance of cash and cash equivalents at the end of term 373751028 470938995
II Adjustments to the Financial Statements
1. Adjustment of the relevant items of the financial statements at the current year beginning according to
the new standards for financial instruments the new standards for revenues and the new standards for
lease implemented commencing from year 2020
□ Applicable √ Not applicable
2. Note to the retroactive adjustment of the previous comparative data according to the new standards for
financial instruments and the new standards for lease implemented commencing from year 2020
□ Applicable √ Not applicable
III. Auditor’ report
Is the Third Quarterly Report be audited?
□ Yes √No
The Third Quarterly report is not audited.
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