Guangdong Electric Power Development Co. Ltd.The First Quarter Report 2021
April 2021
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
Quarter Report and we will accept individual and joint responsibilities for the truthfulness accuracy and
completeness of the Quarter Report.
All of the directors presented the board meeting at which this Quarter Report was examined.
Mr. Wang Jin Person in charge of the Company Mr.Liu Wei Person in charge of accounting works Mr.Meng
Fei CFO as well as person in charge of accounting institution represent and warrant the financial and accounting
report in the first quarter report is true and complete.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
This period Same period of last year
Changes of this period over
same period of last year
（％）
Operating revenue（Yuan） 7855944946 4703863816 67.01%
Net profit attributable to the shareholders
of the listed company（Yuan）
-49403428 7373105 Not applicable
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of
listed company（Yuan）
-53624970 -372094 Not applicable
Net cash generated from /used in operating
activities（Yuan）
700758687 1170574344 -40.14%
Basic earning per share(Yuan/Share) -0.0094 0.0014 Not applicable
Diluted gains per share(Yuan/Share) -0.0094 0.0014 Not applicable
Weighted average return on equity（%） -0.18% 0.03% -0.21%
End of this period End of last period
Changes of this period-end
over same period-end of last
year(%)
Total assets（Yuan） 88793725069 85970818168 3.28%
Net assets attributable to the shareholders
of the listed company（Yuan）
27409481697 27369995422 0.14%
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)
2741914
Govemment subsidy recognized in current gain and
loss(excluding those closely related to the Company’s business
and granted under the state’s policies)
4858932
Mainly due to the electricity sales
company received a special
subsidy of 1.81 million yuan
from the Nansha Finance Bureau
and some subordinate units
received the job-post stabilization
subsidy.Other non-operating income and expenditure except for the
aforementioned items
-3886333
Less: Amount of influence of income tax 687703
Influenced amount of minor shareholders’ equity (after tax) -1194732
Total 4221542 --
Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in
the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the
Public-Extraordinary Gains and Losses or classifies any extraordinary gain/loss item mentioned in the said
explanatory announcement as a recurrent gain/loss item.
√ Applicable □Not applicable
Items Amount involved Reason
Value-added tax will be
refunded immediately
1465803
According to the preferential policy of immediate refund of
value-added tax the Company and its holding subsidiaries are in
compliance with the relevant regulations and continue to enjoy the
preferential value-added tax refund.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
92978
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
Guangzhou Development Group
Co. Ltd.
State-owned
legal person
2.22% 116693602
China Securities Finance Co. Ltd.
State-owned
legal person
1.94% 102099671
Guangdong Electric Power
Development Corporation
State-owned
legal person
1.80% 94367341
Li Zhuo Domestic 1.18% 61996411
Natural person
Zheng Jianxiang
Domestic
Natural person
0.48% 25128874
Harbin Hali Industry Co. Ltd.
Domestic
Non-State
owned legal
person
0.40% 20942945
VANGUARD TOTAL
INTERNATIONAL STOCK
INDEX FUND
Overseas
Legal person
0.30% 15855512
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% 13660906
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
Guangzhou Development Group
Co. Ltd.
116693602 RMB Common shares 116693602
China Securities Finance Co. Ltd. 102099671 RMB Common shares 102099671
Guangdong Electric Power
Development Corporation
94367341 RMB Common shares 94367341
Li Zhuo 61996411 RMB Common shares 61996411
Zheng Jianxiang 25128874
Foreign shares placed
in domestic exchange
25128874
Harbin Hali Industry Co. Ltd. 20942945 RMB Common shares 20942945
VANGUARD TOTAL
INTERNATIONAL STOCK INDEX
FUND
15855512
Foreign shares placed
in domestic exchange
15855512
CHINA INT'L CAPITAL CORP
HONG KONG SECURITIES LTD
15216066
Foreign shares placed
in domestic exchange
15216066
Harbin Daoli District Charity
Foundation
13660906 RMB Common shares 13660906
Explanation on associated
relationship or concerted action of
The fourth largest shareholder Guangdong Electric Power Development Corporation is the
wholly-owned subsidiaries of the largest shareholder Guangdong Energy Group. These two
the above shareholders companies have relationships; whether the other shareholders have relationships or
unanimous acting was unknown.Note to the top 10 common
stockholders involved in margin
financing & securities lending (If
any)
The Fifth largest shareholder Li Zhuo holds1270220 A shares of the Company through A
shares ordinary stock account and holds 60726191A shares of the Company through stock
account with credit transaction and guarantee hold61996411 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 holds20942645A shares of the
Company through stock account with credit transaction and guarantee. hold 20，942，945
shares of the Company's stock totally；
The Tenth largest shareholder Harbin Daoli District Charity Foundation holds10300 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 holds 13660906
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
In 2021 the domestic macro-economy has gradually recovered and the total social electricity demand has
increased. In the first quarter of 2021 the electricity consumption of the whole society in Guangdong Province
increased by 32.08% YOY. The Company has completed the total power generation of 21.012 billion kWh upon
consolidated statement an increase of 73.08% YOY; the cumulative on-grid electricity consumption in
consolidated statement is 19.938 billion kWh an increase of 73.12% YOY.However due to factors such as the reduction of benchmark on-grid electricity price for natural gas power plants
from August 2020 and the increase in market transaction electricity average price stated in the consolidated
statements is 437.03 Yuan/ thousands kilowatt-hours(tax included the same below ) YOY drop of 12.95 Yuan/
thousands kilowatt-hours; the total operating income was RMB 7855.9449 million an increase of 67.01%. and
the sharp increase in thermal coal prices YOY the Company's power generation fuel cost in the first quarter of
2021 was 5809.8175 million yuan increased by 3035.8766 million yuan from the same period last year an
increase of 109.44% YOY and the Company's gross profit margin decreased by 6.14% YOY. Combining the
above factors the Company's net cash flow from operating activities in the first quarter of 2021 decreased by
40.14% YOY and the net profit attributable to shareholders of the listed company was -49.4034 million yuan
decreased by 56.7765 million yuan from the last year.In the first quarter of 2021 the Company's non-recurring profits and losses amounted to RMB 4221500 yuan a
decrease of 45.49% YOY which was mainly due to the decrease in the amount of government subsidies received
by its subordinate units. Therefore with the low net profit base after deducted non-recurring gains and losses in
the same period last year the Company realized the net profit attributable to shareholders of the listed company of
-53625000 yuan in the first quarter of 2021 after deducting non-recurring gains and losses a significant YOY
change.II. The progress of significant events and influence as well as the analysis and explanation on resolving
proposal.
√ Applicable □ Not applicable
1.January 28 2021The 19th meeting of the Ninth board of directors of GuangdongElectricPowerDevelopmentCo.Ltd.（“TheCompany”）examined and adopted the Proposal on 2021 Daily Related Transactions between the Company
and Guangdong Energy Group Co. Ltd. the Proposal on Signing the Supplementary Agreement to the Financial
Services Agreement with Guangdong Communications Group Finance Co. Ltd. the Proposal on Signing the
Framework Agreement on Financing Leasing Cooperation between the Company and Guangdong Energy
Financing Leasing Co. Ltd.and the Proposal of Signs of the Insurance Cooperation Framework Agreement with
Guangdong Energy Property Insurance Captive Co. Ltd. The above-mentioned related transaction was approved
to implement by the Company's first provisional general meeting of shareholders of 2021 held on February 25
2021.
2. In order to continue to supplement working capital expand financing channels and reduce financing costs
after deliberated in the nineteenth meeting of the Company's ninth board of directors held on January 28 2021 it’s
agreed that the Company continues to apply for mid-term note registration and issuance with the Association of
Interbank Market Dealers with the amount of limit of 4 billion yuan and the Company’s management team is
authorized to handle the concrete work. This matter was approved to implement by the Company's first
provisional general meeting of shareholders of 2021 held on February 25 2021.
3. In order to further accelerate the development of major energy projects and accelerate the optimization and
upgrading of the energy structure after deliberation in the nineteenth meeting of the Company's ninth board of
directors held on January 28 2021 it’s agreed the Company establishes a project company by sole proprietorship
for the Jieyang Da’nanhai Petrochemical Integrated Energy Project with the registered place of the project
company is Jieyang Da’nanhai Petrochemical Industrial Zone and the first phase of registered capital is 15 million
yuan. It’s agreed that the project company will carry out the upfront work for the Jieyang Da’nanhai
Petrochemical Integrated Energy Project (2~3 400MW/9F or 600MW gas-fired cogeneration units which will be
determined according to the factors including the heat load and heating characteristics of the project) with the
work expenses shall be controlled at no more than 12.5 million yuan. The Company is currently carrying out the
upfront work of the project in accordance with the relevant requirements of the project approval.
4. On February 23 2021 the Company and the third division of the Xinjiang Production and Construction CorpsTumshuk in Dongguan city signed the “Cooperation framework agreement on investment of 1.5 million kilowattsof photovoltaic power generation project" and "Cooperation Framework Agreement on Investment in
500000-kilowatt Wind Power Project". The Company is currently actively promoting the investment and
development of 1.5 million kilowatts of photovoltaic project and 500000 kilowatts of wind power project of
Tumshuk City of the third division of Xinjiang Corps.
Announcement Date of disclosure Website for disclosure
Estimates announcement of the Daily Related Party
Transactions of 2021
January 292021 http//www.cninfo.com.cn.
Announcement of Related Transactions on Signing of
the Financial Services Framework Agreement
Framework Agreement on Financing Leasing
Cooperation and Framework Agreement on
Cooperation in Insurance and Risk Management
Services
January 292021 http//www.cninfo.com.cn.
Announcement of Resolutions of the 19th (Provisional) Meeting
of the Ninth Board of Directors
January 292021 http//www.cninfo.com.cn.
Announcement of Resolutions of the First provisional
shareholders' general meeting of 2021
February 262021 http//www.cninfo.com.cn.
Announcement on the signing of the "Cooperation Framework
Agreement" with the third division of the Xinjiang Production
and Construction Corps Tumushuk City)
February 242021 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. Investment in securities
√Applicable □ Not applicable
In RMB
Security
category
Security
code
Stock
Abbreviation:
Initial
investment
cost
Mode of
accounting
measurement
Book value
balance at the
beginning of the
reporting period
Changes in
fair value of
the this
period
Cumulative
fair value
changes in
equity
Purchase
amount in
the this
period
Sale
amount in
the this
period
Gain/loss
of the
reporting
period
Book value
balance at the
end of the
reporting period
Accounting
items
Source of
the shares
Domestic
and foreign
stocks
000027
Shenzhen
Energy
15890628 FVM 92080800 64638000 140828172 0 0 0 156718800
Other equity
instrument
Investment
Own-funds
Domestic
and foreign
stocks
600642 Shenergy 235837988 FVM 289878345 54421605 108461962 0 0 0 344299950
Other equity
instrument
Investment
Own-funds
Domestic
and foreign
stocks
831039 NEEQ 3600000 FVM 11628000 -540000 7488000 0 0 0 11088000
Other equity
instrument
Investment
Own-funds
Total 255328616 -- 393587145 118519605 256778134 0 0 0 512106750 -- --
Disclosure date for the notice of
approval by the Board (If any)
October 312019
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 the performances from January to June 2021
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
Reception time
Place of
reception
Way of
reception
Types of
visitors
received
Visitors received
Main contents
discussed and
information provided
Index of Basic Information on
the Investigation and Survey
March 42021 Guangzhou
Onsite
investigation
Organizati
on
Haitong
Securities
Southern Media
Upon understanding
the Company’s
operations financial
situation strategic
Details can be found in the
Record Chart of the Investor
Relation Activity disclosed on
Juchao
Capital planning etc. website(www.cninfo.com.cn) on
8 March 2021.
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by: Guangdong Electric Power Development Co. Ltd.March 31 2021
In RMB
Items March 312021 December 312020
Current asset：
Monetary fund 5636160582 5790946117
Settlement provision
Outgoing call loan
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 4617487103 4332149033
Financing receivable
Prepayments 842661240 766871830
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Other account receivable 513001723 459266554
Including：Interest receivable 28245475 27301568
Dividend receivable 31500000
Repurchasing of financial assets
Inventories 1932980320 1589882029
Contract assets 7829030 3870497
Assets held for sales
Non-current asset due within 1 year 49785734
Other current asset 839180162 546685636
Total of current assets 14389300160 13539457430
Non-current assets：
Loans and payment on other’s behalf
disbursed
Creditor's Investment
Other Creditor's Investment
Long-term receivable
Long term share equity investment 7180440912 6687257614
Other equity instruments investment 3596106750 3548088015
Other non-current financial assets
Property investment 49094965 49732668
Fixed assets 44832656428 47195233079
Construction in progress 7768416675 9153637100
Production physical assets
Oil & gas assets
Use right assets 4429686056
Intangible assets 2160869252 2141625383
Development expenses
Goodwill 27209147 2449886
Long-germ expenses to be amortized 25088766 26409305
Deferred income tax asset 464899697 446587650
Other non-current asset 3869956261 3180340038
Total of non-current assets 74404424909 72431360738
Total of assets 88793725069 85970818168
Current liabilities
Short-term loans 8173386610 7622427916
Loan from Central Bank
Borrowing funds
Transactional financial liabilities
Derivative financial liabilities
Notes payable 1086300000 1092292546
Account payable 2899903654 2666180513
Advance receipts 86646
Contract liabilities 3247167 6573912
Selling of repurchased financial assets
Deposit taking and interbank deposit
Entrusted trading of securities
Entrusted selling of securities
Employees’ wage payable 332242430 304548373
Tax payable 285038486 498801080
Other account payable 6468263714 6775700584
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 3111669068 3180551951
Other current liability 2427857914 3217523576
Total of current liability 24787995689 25364600451
Non-current liabilities：
Reserve fund for insurance contracts
Long-term loan 20638272318 18998555568
Bond payable 2540071838 1499542911
Including：preferred stock
Sustainable debt
Lease liability 3648367908
Long-term payable 24960000 3171971127
Long-term remuneration payable to
staff
213104569 218543743
Expected liabilities
Deferred income 134064649 134647590
Deferred income tax liability 716930338 638571910
Other non-current liabilities 200970029 200970029
Total non-current liabilities 28116741649 24862802878
Total of liability 52904737338 50227403329
Owners’ equity
Share capital 5250283986 5250283986
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 4902263914 4902263914
Less：Shares in stock
Other comprehensive income 2035195298 1946305595
Special reserve
Surplus reserves 8515360638 8515360638
Common risk provision
Retained profit 6706377861 6755781289
Total of owner’s equity belong to the
parent company
27409481697 27369995422
Minority shareholders’ equity 8479506034 8373419417
Total of owners’ equity 35888987731 35743414839
Total of liabilities and owners’ equity 88793725069 85970818168
Legal Representative: Wang Jin Person in charge of accounting：Liu Wei Accounting Dept Leader: Meng Fei
2.Parent Company Balance Sheet
In RMB
Items March 312021 December 312020
Current asset：
Monetary fund 210959409 338045631
Transactional financial assets
Derivative financial assets
Notes receivable
Account receivable 144870098 173029247
Financing receivable
Prepayments 26916380 26680500
Other account receivable 303765341 328224857
Including：Interest receivable 2504478 1038206
Dividend receivable 31500000
Inventories 160521488 118530205
Contract assets
Assets held for sales
Non-current asset due within 1 year
Other current asset 999726 1209217
Total of current assets 848032442 985719657
Non-current assets：
Creditor's right investment
Other Creditor's right investment
Long-term receivable 467000000 467000000
Long term share equity investment 29203893776 28453042855
Other equity instruments investment 3676607620 3548088015
Other non-current financial assets
Property investment 6230946 6389845
Fixed assets 533083728 559635880
Construction in progress 200574 200574
Production physical assets
Oil & gas assets
Use right assets
Intangible assets 80862081 81954649
Development expenses
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset
Other non-current asset 208353879 208353879
Total of non-current assets 34176232604 33324665697
Total of assets 35024265046 34310385354
Current liabilities
Short-term loans 2110990000 1902013125
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Account payable 172851597 136723162
Advance receipts
Contract Liabilities 3245840 6343773
Employees’ wage payable 90869289 93479997
Tax payable 17118120 28112055
Other account payable 42356000 40872386
Including：Interest payable
Dividend payable 9771322 9771322
Liabilities held for sales
Non-current liability due within 1 year 819900456 836189634
Other current liability 2418984086 3217281173
Total of current liability 5676315388 6261015305
Non-current liabilities：
Long-term loan
Bond payable 2540071838 1499542911
Including：preferred stock
Sustainable debt
Lease liability
Long-term payable
Long-term remuneration payable to
staff
54967442 56805513
Expected liabilities
Deferred income 29988606 29988606
Deferred income tax liability 651137847 621507946
Other non-current liabilities
Total non-current liabilities 3276165733 2207844976
Total of liability 8952481121 8468860281
Owners’ equity
Share capital 5250283986 5250283986
Other equity instruments
Including：preferred stock
Sustainable debt
Capital reserves 5405326643 5405326643
Less：Shares in stock
Other comprehensive income 2035195299 1946305595
Special reserve
Surplus reserves 8515360638 8515360638
Retained profit 4865617359 4724248211
Total of owners’ equity 26071783925 25841525073
Total of liabilities and owners’ equity 35024265046 34310385354
3.Consolidated Income statement
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 7855944946 4703863816
Including：Business income 7855944946 4703863816
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 8044027257 4690246724
Including：Business cost 7538027573 4232870861
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 43944273 37570428
Sales expense 13734913 10259734
Administrative expense 160609505 133741951
R & D costs 6861162 490566
Financial expenses 280849831 275313184
Including：Interest expense 300840085 291475183
Interest income 21105693 17673491
Add：Other income 5094867 8534600
Investment gain（“-”for loss） 162721608 63673155
Including: investment gains from
affiliates
162181608 63673155
Termination of recognition of gains on
financial assets at amortized cost
Gains from currency exchange
Net exposure hedging income
Changing income of fair value
Loss of credit impairment 119432 20911
Impairment losses on assets
Income on disposal of assets 6527174 -137
III. Operational profit（“-”for loss） -13619230 85845621
Add ：Non-operational income 1887701 4627807
Less: Non-operating expense 9253794 249929
IV. Total profit(“-”for loss) -20985323 90223499
Less：Income tax expenses 37537342 44747697
V. Net profit -58522665 45475802
(I) Classification by business
continuity
1.Net continuing operating profit -58522665 45475802
2.Termination of operating net profit
(II) Classification by ownership
1.Net profit attributable to the owners of
parent company
-49403428 7373105
2.Minority shareholders’ equity -9119237 38102697
VI. Net after-tax of other comprehensive
income
88889704 -29742070
Net of profit of other comprehensive inco
me attributable to owners of the parent co
mpany.
88889704 -29742070
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent accounting
period
88889704 -29742070
1.Re-measurement of defined benefit pla
ns of changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be reclass
ified into profit or loss.
3. Changes in the fair value of
investments in other equity instruments
88889704 -29742070
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 investee can be reclassifie
d 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 financ
ial statements
7.Other
Net of profit of other comprehensive inco
me attributable to Minority shareholders’
equity
VII. Total comprehensive income 30367039 15733732
Total comprehensive income attributable
to the owner of the parent company
27453577 -22368965
Total comprehensive income
attributable minority shareholders
2913462 38102697
VIII. Earnings per share
（I）Basic earnings per share -0.0094 0.0014
(II)Diluted earnings per share -0.0094 0.0014
The current business combination under common control the net profits of the combined party before achieved ne
t profit of RMB 0.00 last period the combined party realized RMB0.00.Legal Representative: Wang Jin Person in charge of accounting：Liu Wei Accounting Dept Leader: Meng Fei
4. Income statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I. Revenue 328483248 208902754
Including：Business cost 360360665 235016646
Business tax and surcharge 1718499 1352528
Sales expense 513951 537974
Administrative expense 20743785 16929915
R & D costs
Financial expenses 57375851 55643798
Including：Interest expenses 57836879 56202961
Interest income 931606 1338054
Add: Other income 61144
Investment gain（“-”for loss） 253529718 66125625
Including: investment gains from
affiliates
158992821 61448940
Termination of recognition of gains on
financial assets at amortized cost
Net exposure hedging income
Changing income of fair value
Credit impairment loss 20911
Impairment losses on assets
Income on disposal of assets
II. Operational profit（“-”for loss） 141361359 -34431571
Add ：Non-operational income 7789 895086
Less：Non -operational expenses 57879
III. Total profit(“-”for loss) 141369148 -33594364
Less：Income tax expenses
IV. Net profit 141369148 -33594364
1.Net continuing operating profit 141369148 -33594364
2.Termination of operating net profit
V. Net after-tax of other comprehensive
income
88889704 -29742070
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent
accounting period
88889704 -29742070
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
2.Other comprehensive income under th
e equity method investee can not be recl
assified into profit or loss.
3. Changes in the fair value of
investments in other equity instruments
88889704 -29742070
4. Changes in the fair value of the
company’s credit risks
5.Other（II）
Other comprehensive income that will b
e reclassified into profit or loss.
1.Other comprehensive income under th
e equity method investee can be reclassi
fied into profit or loss.
2. Changes in the fair value of
investments in other debt obligations
3. 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 230258852 -63336434
VII. Earnings per share
（I）Basic earnings per share
(II)Diluted earnings per share
5. Consolidated Cash flow statement
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
8555476632 5951197187
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
Other cash received from business
operation
61498340 66524155
Sub-total of cash inflow 8616974972 6017721342
Cash paid for purchasing of
merchandise and services
6847720393 3839441128
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 437268258 356577920
Taxes paid 472566452 472161097
Other cash paid for business activities 158661182 178966853
Sub-total of cash outflow from business
activities
7916216285 4847146998
Net cash generated from /used in
operating activities
700758687 1170574344
II. Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains 32040000
Net cash retrieved from disposal of
fixed assets intangible assets and other
long-term assets
1152886 112300704
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received 23378830
Sub-total of cash inflow due to
investment activities
56571716 112300704
Cash paid for construction of fixed
assets intangible assets and other
long-term assets
1900947661 1084293124
Cash paid as investment 260325125
Net increase of loan against pledge
Net cash received from subsidiaries and
other operational units
103159958
Other cash paid for investment
activities
Sub-total of cash outflow due to
investment activities
2264432744 1084293124
Net cash flow generated by investment -2207861028 -971992420
III.Cash flow generated by financing
Cash received as investment
Including: Cash received as investment
from minor shareholders
Cash received as loans 6945730746 4318742335
Other financing –related cash received 20000000
Sub-total of cash inflow from financing
activities
6945730746 4338742335
Cash to repay debts 5182520381 3928566618
Cash paid as dividend profit or
interests
369311727 351311235
Including: Dividend and profit paid by
subsidiaries to minor shareholders
106235578
Other cash paid for financing activities 41581876 1354531
Sub-total of cash outflow due to
financing activities
5593413984 4281232384
Net cash flow generated by financing 1352316762 57509951
IV. Influence of exchange rate
alternation on cash and cash equivalents
46 232
V.Net increase of cash and cash
equivalents
-154785533 256092107
Add: balance of cash and cash
equivalents at the beginning of term
5763619874 5079641969
VI ..Balance of cash and cash
equivalents at the end of term
5608834341 5335734076
6. Cash Flow Statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
rending of services
384027419 324942952
Tax returned
Other cash received from business
operation
10193013 17887749
Sub-total of cash inflow 394220432 342830701
Cash paid for purchasing of
merchandise and services
315730485 271756794
Cash paid to staffs or paid for staffs 75176589 64253609
Taxes paid 18488590 24790894
Other cash paid for business activities 8933799 13024976
Sub-total of cash outflow from business
activities
418329463 373826273
Net cash generated from /used in
operating activities
-24109031 -30995572
II. Cash flow generated by investing
Cash received from investment
retrieving
16460000
Cash received as investment gains 124893268 3042532
Net cash retrieved from disposal of
fixed assets intangible assets and other
long-term assets
532467
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
125425735 19502532
Cash paid for construction of fixed
assets intangible assets and other
long-term assets
3388616 5514986
Cash paid as investment 602014794 241157389
Net cash received from subsidiaries and
other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
investment activities
605403410 246672375
Net cash flow generated by investment -479977675 -227169843
III. Cash flow generated by financing
Cash received as investment
Cash received as loans 2399822000 2299450000
Other financing –related ash received
Sub-total of cash inflow from
financing activities
2399822000 2299450000
Cash to repay debts 2000000000 1800000000
Cash paid as dividend profit or
interests
22763132 80325978
Other cash paid for financing activities 58430 24515
Sub-total of cash outflow due to
financing activities
2022821562 1880350493
Net cash flow generated by financing 377000438 419099507
IV. Influence of exchange rate
alternation on cash and cash equivalents
46 232
V.Net increase of cash and cash
equivalents
-127086222 160934324
Add: balance of cash and cash
equivalents at the beginning of term
338045631 224504289
VI ..Balance of cash and cash
equivalents at the end of term
210959409 385438613
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 2021
√ Applicable □ Not applicable
Consolidated balance sheet
Whether to adjust the balance sheet account at the beginning of the year
√ Yes □No
Consolidated balance sheet
In RMB
Items December 312020 January 12021 Adjustments
Current asset：
Monetary fund 5790946117 5790946117
Account receivable 4332149033 4332149033
Prepayments 766871830 766871830
Other account
receivable
459266554 459266554
Including：Interest receivable 27301568 27301568
Dividend receivable 31500000 31500000
Inventories 1589882029 1589882029
Contract assets 3870497 3870497
Non-current asset due
within 1 year
49785734 49785734
Other current asset 546685636 546685636
Total of current assets 13539457430 13539457430
Non-current assets：
Long term share equity
investment
6687257614 6687257614
Other equity instruments
investment
3548088015 3548088015
Property investment 49732668 49732668
Fixed assets 47195233079 44554049443 -2641183636
Construction in progress 9153637100 8124428283 -1029208817
Use right assets 3696412582 3696412582
Intangible assets 2141625383 2141625383
Goodwill 2449886 2449886
Long-germ expenses to be
amortized
26409305 26409305
Deferred income tax asset 446587650 446587650
Other non-current asset 3180340038 3180340038
Total of non-current assets 72431360738 72457380867 26020129
Total of assets 85970818168 85996838297 26020129
Current liabilities
Short-term loans 7622427916 7622427916
Notes payable 1092292546 1092292546
Account payable 2666180513 2666180513
Contract liabilities 6573912 6573912
Employees’ wage payable 304548373 304548373
Tax payable 498801080 498801080
Other account payable 6775700584 6775700584
Dividend payable 9771322 9771322
Non-current liability due
within 1 year
3180551951 3026063115 -154488836
Other current liability 3217523576 3217523576
Total of current liability 25364600451 25210111615 -154488836
Non-current liabilities：
Long-term loan 18998555568 18998555568
Bond payable 1499542911 1499542911
Lease liability 3327520092 3327520092
Long-term payable 3171971127 24960000 -3147011127
Long-term remuneration
payable to staff
218543743 218543743
Deferred income 134647590 134647590
Deferred income tax liability 638571910 638571910
Other non-current liabilities 200970029 200970029
Total non-current liabilities 24862802878 25043311843 180508965
Total of liability 50227403329 50253423458 26020129
Owners’ equity
Share capital 5250283986 5250283986
Capital reserves 4902263914 4902263914
Other comprehensive income 1946305595 1946305595
Surplus reserves 8515360638 8515360638
Retained profit 6755781289 6755781289
Total of owner’s equity
belong to the parent company
27369995422 27369995422
Minority shareholders’ equity 8373419417 8373419417
Total of owners’ equity 35743414839 35743414839
Total of liabilities and
owners’ equity
85970818168 85996838297 26020129
Adjustment statementThe Ministry of Finance revised and issued the “No. 21 Accounting Standards for Business Enterprises-Leases" in 2018. The
Company implemented the new lease standards from January 1 2021 and adjusted the right-of-use assets lease liabilities and the
amount of other related subjects in financial statements from January 1 2021.Parent Company Balance Sheet
In RMB
Items December 312020 January 12021 Adjustments
Current asset：
Monetary fund 338045631 338045631
Account payable 173029247 173029247
Prepayments 26680500 26680500
Other account receivable 328224857 328224857
Including：Interest receivable 1038206 1038206
Dividend receivable 31500000 31500000
Inventories 118530205 118530205
Other current assets 1209217 1209217
Total of current assets 985719657 985719657
Non-current assets：
Long-term payable 467000000 467000000
Long term share equity
investment
28453042855 28453042855
Other equity Instrument
investment
3548088015 3548088015
Property investment 6389845 6389845
Fixed assets 559635880 559635880
Construction in process 200574 200574
Intangible assets 81954649 81954649
Other non-current assets 208353879 208353879
Total of non-current assets 33324665697 33324665697
Total of assets 34310385354 34310385354
Current liabilities
Short-term loans 1902013125 1902013125
Account payable 136723162 136723162
Contract liabilities 6343773 6343773
Employees’ wage payable 93479997 93479997
Tax payable 28112055 28112055
Other account payable 40872386 40872386
Dividend payable 9771322 9771322
Non-current liabilities due
within 1 year
836189634 836189634
Other current liabilities 3217281173 3217281173
Total of liability 6261015305 6261015305
Non-current liabilities：
Bonds payable 1499542911 1499542911
Employees’ wage payable 56805513 56805513
Deferred income 29988606 29988606
Deferred income tax liability 621507946 621507946
Total non-current liabilities 2207844976 2207844976
Total of liability 8468860281 8468860281
Owners’ equity
Share capital 5250283986 5250283986
Capital reserves 5405326643 5405326643
Other comprehensive income 1946305595 1946305595
Surplus reserves 8515360638 8515360638
Retained profit 4724248211 4724248211
Total of owners’ equity 25841525073 25841525073
Total of liabilities and
owners’ equity
34310385354 34310385354
Adjustment statement
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 2021
□ Applicable √ Not applicable
III. Auditors 'Report
Is the First Quarter Report be audited?
□ Yes √No
The First Quarter report is not audited.
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