Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2026

Stock code: 000539，200539 Stock Abbreviation: Yue Dian Li A，Yue Dian Li B

Announcement No.:2026-53

Guangdong Electric power Development Co. Ltd.Summary of the Semi-Annual Report 2026

I. Important notes

This summary of the Semi-Annual Report is quoted out of the full text of the Semi-Annual Report. Investors

desirous to understand entirely the Company's operation results financial position and future development

planning are advised to carefully read the full text of the Semi-Annual Report which is published in the medium

designated by CSRC.Directors other than the following ones have attended the Board meeting to review the Summary- annual report.Name of absent director Position of absent director Reason Name of proxy

Li Baobing Director Due to circumstances Zheng Yunpeng

He Ruxin Director Due to circumstances Zheng Yunpeng

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.SZ，200539.SZStock exchange for listing Shenzhen Stock Exchange

Contact person and contact manner Board secretary Securities affairs Representative

Name Qin Xiao Huang Xiaowen

35/F South Tower Yudean Plaza No.2 35/F South Tower Yudean Plaza No.2

Address Tianhe Road East Tianhe Road East

GuangzhouGuangdong Province GuangzhouGuangdong Province

Tel (020)87570251 (020)87570251

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

Changes of this period

Reporting period Same period of lastyear over same period ofLast year(%)

Operating income（Yuan） 26333085624 23141441943 13.79%

Net profit attributable to the shareholders of the

listed company Yuan -545781406 32474158 -1780.66%（ ）

Net profit after deducting of non-recurring -641232514 -21871771 -2831.78%

1Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2026

gain/loss attributable to the shareholders of listed

company（Yuan）

Cash flow generated by business operation net

Yuan 5959027610 4356121598 36.80%（ ）

Basic earning per share(Yuan/Share) -0.1040 0.0062 -1780.66%

Diluted gains per share(Yuan/Share) -0.1040 0.0062 -1780.66%

Weighted average ROE(%) -2.36% 0.14% -2.50%

As at the end of the As at the end of last Changed over last year

reporting period year （％）

Gross assets（Yuan） 188893075382 186034251274 1.54%

Net assets attributable to shareholders of the listed

company Yuan 22753617497 23444357218 -2.95%（ ）

3. Shareholders and shareholding

In RMB

Total Number of common Number of shareholders of preferred

shareholders at the end of the 188248 stocks of which voting rights 0

reporting period recovered in the report period(If any)

Shareholdings of Top 10 shareholders(Excludes shares lent through refinancing)

Number or share

Amount of

Shareholders Proportion pledged/frozenNature of Number of shares

shareholder of shares held at period -end restrictedheld（%） State of share Amount

shares held

Guangdong Energy State-owned 90226208

Group Co. Ltd. legal person 65.74% 3451556619 1893342621 Pledge 9

Guangdong Electric

Power State-owned

Development legal person 1.80% 94367341 0 Not applicable 0

Corporation

Guangzhou

Development State-ownedlegal person 1.36% 71151542 0 Not applicable 0Group Co. Ltd.Zheng Jianxiang DomesticNatural person 0.51% 26859300 0 Not applicable 0

Overseas Legal

HKSCC 0.38% 19764240 0 Not applicable 0

person

CHINA

INTERNATIONAL

CAPITAL Overseas Legal

0.29% 15216066 0 Not applicable 0

CORPORATION person

HONG KONG

SECURITIES LTD

VANGUARD

TOTAL

Overseas Legal

INTERNATIONAL 0.28% 14620512 0 Not applicable 0

person

STOCK INDEX

FUND

NOMURA

Overseas Legal

SINGAPORE 0.24% 12599843 0 Not applicable 0

person

LIMITED

Chaokang

Investment Co. Overseas Legalperson 0.22% 11656677 0 Not applicable 0Ltd.Zhou Zheng DomesticNatural person 0.21% 10812795 0 Not applicable 0

Explanation on associated relationship The Second largest shareholder Guangdong Electric Power Development Corporation

2Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2026

among the aforesaid shareholders And the ninth largest shareholder Chaokang Investment Co. Ltd. Are the wholly-owned

subsidiaries of the largest shareholder Energy Group. These three companies have

relationships; whether the other shareholders have relationships or unanimous acting

was unknown

Explanation on shareholders

participating in the margin trading N/A

business(if any )

Information of shareholders holding more than 5% of the shares the top 10 shareholders and the top 10

shareholders of unrestricted tradable shares participating in the lending of shares in securities lending and

borrowing business

□ Applicable √ Not applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed

compared with the previous period due to the securities lending/returning

□ Applicable √ Not applicable

4. 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. Bonds existing on the approval date of semi-annual report

√Applicable□ Not applicable

（1）Basic information of corporate bonds

Bond name Bond shortname Bond code Issue day Due day Bond balance Interest rate

2022 MTN

(Phase I) of

Guangdong 22Yudean Fa

Electric Power MTN001 102281929.IB August 242022 August 262022 August 262027 2.9%

Development

Co. Ltd.

2023 MTN

(Phase I) of

Guangdong 23Yudean Fa

Electric Power MTN001 102380558.IB March 152023 March 172023 March 172028 3.35%

Development

Co. Ltd.

2024 MTN

(Phase I) of 24 Yudean Fa 102482034.IB May 222024 May 242024 May 242029 2.41%

Guangdong MTN001

3Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2026

Electric

Power

Development

Co. Ltd.

2024 MTN

(Phase II) of

Guangdong 24 Yudean Fa

Electric Power MTN002 102483012.IB July 112024 July 152024 July 152034 2.54%

Development

Co. Ltd.

2024 MTN

(Phase III) of

Guangdong 24 Yudean Fa September September September

MTN003 102484007.IB 2.52%Electric Power 92024 112024 112039

Development

Co. Ltd.

2024 MTN

(Phase IV) of

Guangdong 24 Yudean Fa October October 14 October

Electric Power MTN004A 102400984.IB 2.47%112024 2024 142029

Development

Co. Ltd.Variety 1

2024 MTN

(Phase IV) of

Guangdong

24 Yudean Fa October October 14 October

Electric Power 102400985.IB 2.7%

MTN004B 112024 2024 142039

Development

Co. Ltd.Variety 2)

2024 MTN

(Phase V) of

Guangdong 24 Yudean Fa October October October

Electric Power MTN005 102484558.IB 2.7%222024 242024 242039

Development

Co. Ltd.

2024 MTN

(Phase VI) of

Guangdong

24 Yudean November November 13 November 13

Electric Power 102401037.IB 2.37%

FaMTN006A 112024 2024 2029

Development

Co. Ltd.Variety 1)

2024 MTN

(Phase VI) of

Guangdong

24Yudean Fa November November November

Electric Power 102401038.IB 2.67%

MTN006B 112024 132024 132039

Development

Co. Ltd.Variety 2)

2025 MTN

(Phase I) of

Guangdong 25 Yudean Fa

102582339.IB June 92025 June 112025 June 112035 2.18%

Electric Power MIN001

Development

Co. Ltd

2025 MTN 25 Yudean Fa September September September

102501586.IB 2.2%

(Phase II) of MIN002 112025 152025 152030

4Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2026

Guangdong

Electric Power

Development

Co. Ltd

2025 MTN

(Phase III) of

Guangdong 25 Yudean Fa October October October

102584320.IB 2.18%

Electric Power MIN003 172025 212025 212030

Development

Co. Ltd

2026 MTN

(Phase I) of

Guangdong 26 Yudean Fa

Electric Power MTN001(M & 102681477.IB April 162026 April 202026 April 202031 1.83%

Development A)

Co. Ltd (M &

A)

Public Issuance

of Corporate

Bonds to

Professional

Investors in November November 24 November 24

2021 (Phase I) 21Yedean 03 149711.SZ 232021 2021 2026 3.41%

of Guandong

Electric Power

Development

Co.Ltd.

（2） Financial indicators as of the end of the reporting period

In RMB 10000

Item At the end of the reporting period At the end of last year

Debt ratio 77.53% 77.71%

Item Amount of this period Amount of last period

EBITDATime interest earned ratio 3.37 3.24

III. Significant events

In the first half of 2026 electricity demand in Guangdong Province continued to rise. From January to June

the total social electricity consumption in Guangdong Province reached 471.483 billion kWh representing a

year-on-year increase of 9.1%; among which industrial electricity consumption amounted to 271.229 billion

kWh accounting for approximately 57.5% and electricity consumption by the secondary industry maintained

relatively rapid growth. During the reporting period Benefiting from the commissioning of new coal-fired

power projects the Company's cumulative grid-connected electricity volume on a consolidated basis amounted

to 65.714 billion kWh a year-on-year increase of 23.14%.According to data from the Guangdong Power Trading Center the annual bilateral negotiation transaction

volume in the Guangdong electricity market for 2026 reached 358.968 billion kWh with an average transaction

price of RMB 372.14/MWh. In the first half of 2026 the Company's average on-grid tariff on a consolidated

basis was RMB 445.90 yuan/ Thousand KWh a YOY decrease of 34.11 yuan/Thousand kWh a decrease of

7.11%; The operating income was 26333.09 million yuan a YOY increase of 3191.65 million yuan or an

increase of 13.79%.

5Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2026

In the first half of 2026 thanks to the commissioning of new coal-fired power projects and improvements

in the generation efficiency of existing units the Company’s electricity supply to the grid increased by 23.14

per cent year-on-year. However due to the continued decline in the comprehensive grid-connected electricity

tariff a year-on-year rise in fuel costs and lower-than-expected utilisation hours for new energy projects—

coupled with the impact of increased expenses such as depreciation labour costs and interest on newly

commissioned units—the gross profit margin of the Company’s power generation business continued to narrow.During the reporting period the Company as a whole recorded a net profit attributable to shareholders of –

545.78 million yuan representing a loss compared with the previous year. Specifically the coal-fired power

business recorded a net profit attributable to shareholders of –544.90 million yuan; the gas-fired power business

recorded a net profit attributable to shareholders of –256.55 million yuan; the hydropower business recorded a

net profit attributable to shareholders of 6.03 million yuan; and the new energy business recorded a net profit

attributable to shareholders of –97.89 million yuan; the Company’s head office investment operations recorded

a net profit attributable to shareholders of 194.64 million yuan.As of June 2026 the Company had a total installed capacity of approximately 8787.3 MW in new energy

sources such as wind power and photovoltaic power of which approximately 2201.5 MW was offshore wind

power approximately 1693.4 MW was onshore wind power and approximately 4892.5 MW was photovoltaic

power generation. In the first half of 2026 There were 300 MW of wind power projects under construction at

Guangdong Huilai Shibeishan and Shanxi Yuncheng and approximately 500 MW of photovoltaic projects

under construction in Hainan Guangdong and other regions in aggregate. In addition 1790 MW of projects

had completed decision-making and were proposed for construction. In the future the Company will continue

to actively grasp the general development trend of accelerating energy transformation under the goals of

"carbon peaking" and "carbon neutrality" implement the specific deployment of "1310" by the Guangdong

Provincial Committee of the Communist Party of China further expand high-quality new energy project

resources and build an ecologically civilized power generation enterprise.

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