Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2024

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

Announcement No.：2024-48

Corporate bond code: 149418 Abbreviation of corporate bond:21 Yudean 02

Corporate bond code: 149711 Abbreviation of corporate bond: 21 Yudean 03

Guangdong Electric power Development Co. Ltd.Summary of the Semi-Annual Report 2024

1Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2024

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.All directors have attended the Board meeting to consider the semi-annual report

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 Liu Wei 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 liuw@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

Reporting period Same period of last

Changes of this period

year over same period ofLast year(%)

Operating income（Yuan） 26078790971 28340840884 -7.98%

Net profit attributable to the shareholders of the

listed company Yuan 902938860 856538633 5.42%（ ）

Net profit after deducting of non-recurring

gain/loss attributable to the shareholders of listed 886059830 849010727 4.36%

company（Yuan）

Cash flow generated by business operation net

Yuan 6006225071 2720370016 120.79%（ ）

Basic earning per share(Yuan/Share) 0.1720 0.1631 5.42%

Diluted gains per share(Yuan/Share) 0.1720 0.1631 5.42%

Weighted average ROE(%) 4.03% 3.86% 0.17%

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

reporting period year （％）

Gross assets（Yuan） 164569341102 161207283087 2.09%

Net assets attributable to shareholders of the listed

company（Yuan 22680612863 22141735460 2.43%）

2Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2024

3. Shareholders and shareholding

In shares

Total Number of common Number of shareholders of preferred

shareholders at the end of 114297 stocks of which voting rights recovered 0

the reporting period in the report period(If any)

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

Number or share

Amount of

Shareholders pledged/frozenNature of Proportion Number of

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

held

Guangdong Energy Group State-owned

Co. Ltd. legal person 67.39% 3538116921 1893454257 Not applicable 0

Guangzhou Development State-owned

Group Co. Ltd. legal person 2.22% 116693602 0 Not applicable 0

Guangdong Electric Power State-owned

Development Corporation legal person 1.80% 94367341 0 Not applicable 0

Domestic

Zheng Jianxiang Natural 0.51% 26600000 0 Not applicable 0

person

VANGUARD TOTAL

Overseas

INTERNATIONAL 0.30% 15855512 0 Not applicable 0

Legal person

STOCK INDEX FUND

CHINA

INTERNATIONAL

Overseas

CAPITAL 0.29% 15378366 0 Not applicable 0

Legal person

CORPORATION HONG

KONG SECURITIES LTD

GUOTAI JUNAN

OverseasSECURITIES（HONG 0.26% 13846931 0 Not applicable 0Legal personKONG） LIMITED

NOMURA SINGAPORE Overseas

0.24% 12599843 0 Not applicable 0

LIMITED Legal person

Chaokang Investment Co. Overseas

Ltd. 0.22% 11656677 0 Not applicable 0Legal person

Domestic

Zhou Zheng Natural 0.21% 10812795 0 Not applicable 0

person

The Third largest shareholder Guangdong Electric Power Development Corporation

Explanation on associated relationship And the ninth largest shareholder Chaokang Investment Co. Ltd. Are the wholly-

among the aforesaid shareholders owned subsidiaries of the largest shareholder Energy Group. These three companieshave relationships; whether the other shareholders have relationships or unanimous

acting was unknown

Explanation on shareholders participating

in the margin trading business(if any ) Not applicable

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

3Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2024

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. Corporate bonds that existed on the date when this Report was authorized for issue

√Applicable□ Not applicable

（1）Basic information of corporate bonds

Bond balance

Bond name Bond shortname Bond code Issue day Due day (In

Interest

RMBI10000) rate

Public Issuance of Corporate

Bonds to Qualified Investors

in 2021 (Phase II) of 21Yudean02 149418.SZ April 272021 April 282026 12500 2.45%Guandong Electric Power

Development Co.Ltd.Public Issuance of Corporate

Bonds to Professional November 24

Investors in 2021 (Phase I) of 21Yedean 149711.SZ November03 232021 2026 80000 3.41%Guandong Electric Power

Development Co.Ltd.Public Issuance of Green

Corporate Bonds to

professional Investors in G23

115042.SH March202023 March 212028 60000 3.15%2023(phase I)(Variety 2) of Yuefeng 2

Guangdong Wind Power

Generation Co. Ltd.

2021 MTN (Phase II) of

Guangdong Electric Power 21Yudean November NovemberFa MTN002 102102318.IB 220000 3.13%Development Co. Ltd. 152021 172024

2022 MTN (Phase I) of

Guangdong Electric Power 22Yudean AugustFa MTN001 102281929.IB August 262027 60000 2.9%Development Co. Ltd. 242022

2023 MTN (Phase I) of

Guangdong Electric Power 23Yudean MarchFa MTN001 102380558.IB March 172028 160000 3.35%Development Co. Ltd. 152023

2024 MTN (Phase I) of 24 Yudean

Guangdong Electric Power Fa 102482034.IB May 222024 May 242029 100000 2.41%

Development Co. Ltd. MTN001

2024 MTN (Phase II) of 24 Yudean

Guangdong Electric Power Fa 102483012.IB July 112024 July 152034 150000 2.54%

Development Co. Ltd. MTN002

Guangdong Electric Power 24 Yudean October

Development Co. Ltd. Co. Fa 012481357.IB April 182024 100000 1.84%162024

4Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2024

Ltd.2024 I phase Ultra-short SCP001

term financing bills

MTN (Phase I) (Sustainable

lingged)of Guangdong 21 Pinghai October October

102102049.IB 30000 3.72%

Pinghai Power Generation Fa MTN001 132021 152024

Plant Co. Ltd.of 2021

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

In RMBI10000

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

Debt ratio 79.05% 78.96%

Items Amount of this period Amount of last period

EBITDATime interest earned ratio 4.09 4.12

III. Significant events

In the first half of 2024 affected by economic and other factors the electricity demand in Guangdong Province

has risen steadily and the electricity consumption of the whole society in Guangdong Province from January to

June was 413.42 billion kWh an increase of 8.5% YOY; Among them the electricity consumption of the

secondary industry accounted for 59.1% of the total electricity consumption of the whole society driving the

growth of electricity consumption of the whole society by 4.9 percentage points which was higher than the sum

of the electricity consumption of the tertiary industry and residents. During the reporting period the Company

completed a total of 53.904 billion kWh of on-grid electricity in consolidated statement an increase of 0.84%

YOY.According to the data of the Guangdong Provincial Electric Power Trading Center in 2024 the amount of

electricity traded in bilateral negotiated transactions in Guangdong Province is 243.114 billion kWh with an

average transaction price of 465.64 yuan/thousand KWh a YOY decrease of 15.93%; In the first half of 2024

the average price of electricity sold in the consolidated statement was 539.50 yuan/thousand kWh a YOY

decrease of 52.36 yuan/thousand kwh or a decrease of 8.85%. Operating revenue amounted to 26.079 billion

yuan decreased by 2.262 billion yuan or 7.98 per cent YOY.During the reporting period benefiting from the completion and commissioning of new units of clean energy

and renewable energy the Company achieved year-on-year growth in feed-in electricity. The Company fully

grasped the favourable conditions of the current drop in fuel prices carried out in-depth work on energy

conservation and consumption reduction strengthened the control of financing costs improved the efficiency of

the use of funds and effectively hedged the adverse impact of the drop in electricity prices with comprehensive

measures. The Company's net profit attributable to the parent company in the first half of 2024 was 902.94

million yuan an increase of 46.4 million yuan YOY. Among them the Company's coal-fired power business

achieved a net profit attributable to the parent company of 305.8 million yuan; the net profit attributable to the

parent company of the gas electricity business was 143.73 million yuan; the net profit attributable to the parent

company of the hydropower business was -10.15 million yuan; the net profit attributable to the parent company

of the new energy business was 198.43 million yuan; The Company's investment business achieved a net profit

attributable to the parent company of 211.47 million yuan.As of June 2024 the Company has a total of about 5778500 kilowatts of wind power photovoltaic and other

new energy installed capacity including approximately 2201500 kilowatts of offshore wind power

5Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2024

approximately 1193400 kilowatts of onshore wind power and approximately 2383500 kilowatts of

photovoltaic power generation. In the first half of 2024 the Company added 834500 kilowatts of new energy

installed capacity including 600000 kilowatts of wind power and 234500 kilowatts of photovoltaic power; The

total installed capacity of Xinjiang Shache Photovoltaic and other projects under construction is 3.25 million

kilowatts; the projects with a capacity of 2.335 million kilowatts have been completed through decision-making

of construction and signing of acquisition agreement; and the scale of new energy projects approved by the

Company for filing and for which the target has been obtained is approximately 6.204 million kilowatts. In the

future the Company will continue to actively grasp the development trend of accelerating energy

transformation under the goals of "carbon peak" and "carbon neutrality" implement the "1310" deployment of

the Guangdong Provincial Party Committee actively expand new energy project resources through self-

construction and acquisition and make every effort to promote the leapfrog development of new energy and

build an ecological civilization power generation enterprise.

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