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

Announcement No.: 2018-43

Guangdong Electric power Development Co. Ltd.Summary of the Semi-Annual Report 2018

I. Important notes

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

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

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

Name Title Content

Statement

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

Name of absent director Position of absent director Reason Name of proxy

Rao Subo Director Due to busniess Zheng Yunpeng

Wen Lianhe Director Due to busniess Zheng Yunpeng

Wen Shufei Director Due to busniess Li Fangji

Chen Ze Director Due to busniess Wang Jin

Chen Changlai Director Due to busniess Wang Jin

Zhang Xueqiu Director Due to busniess Ma Xiaoqian

Shen Hongtao Independent Director Due to busniess Sha Qilin

Non-standard auditor’s opinion

□ Applicable √Not applicable

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

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

□ Applicable √Not applicable

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

□ Applicable √Not applicable

II. Basic information about the company

1. Company profile

Stock abbreviation

Yue Dian Li A Yue Dian Li

B

Stock code 000539、200539Stock exchange for listing Shenzhen Stock Exchange

Contact person and contact manner Board secretary Securities affairs Representative

Name Liu Wei Qin Xiao

Address

35/F South Tower Yudean Plaza No.2

Tianhe Road East GuangzhouGuangdong

36/F South Tower Yudean Plaza No.2

Tianhe Road East GuangzhouGuangdong

Province Province

Tel (020)87570276 (020)87570251

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

2. Major accounting data and financial indicators

Does the company adjust retrospectively or restate accounting data of previous years due to change of the

accounting policy or correction of any accounting error?

□ Yes√ No

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

Operating income（RMB） 13894985179 12385486577 12.19%

Net profit attributable to the shareholders

of the listed company（RMB）

448833518 128735725 248.65%

Net profit after deducting of non-recurring

gain/loss attributable to the shareholders of

listed company（RMB）

413141718 156802731 163.48%

Cash flow generated by business operation

net（RMB）

3795532708 1578925284 140.39%

Basic earning per share(RMB/Share) 0.0855 0.0245 248.98%

Diluted gains per

share(RMB/Share)(RMB/Share)

0.0855 0.0245 248.98%

Weighted average ROE(%) 1.88% 0.55% 1.33%

As at the end of the

reporting period

As at the end of last year YoY+/-（%）

Gross assets (RMB) 72817272539 71007415323 2.55%

Net assets attributable to shareholders of

the listed company （RMB）

23677112778 23695190653 -0.08%

3.Shareholders and shareholding

In Shares

Total Number of common

shareholders at the end of the

reporting period

97149

Number of shareholders of

preferred stocks of which

voting rights recovered in the

report period(If any)

0

Shareholdings of Top 10 shareholders

Shareholders

Nature of

shareholder

Proportio

n of

shares

held（%）

Number of shares

held at period

-end

Amount of

restricted shares

held

Number or share

pledged/frozen

State of

share

Amou

nt

Guangdong Yudean Group Co. Ltd.State-owned

legal person

67.39% 3538005285 1893342621

China Securities Finance Co. Ltd.

State-owned

legal person

2.78% 145748980

Guangdong Guangfa Electric Power

Investment Co. Ltd.State-owned

legal person

2.22% 116693602

Guangdong Electric Power Development

Corporation

State-owned

legal person

1.80% 94367341

Harbin Daoli District Charity Foundation

Domestic

Non-State owned

legal person

0.76% 39877666

Li Zhuo

Domestic

Natural person

0.61% 31820943

National Social Security Fund 103 Domestic 0.48% 24994982

portfolio Non-State owned

legal person

Zheng Jianxiang

Domestic

Natural person

0.41% 21766298

Harbin Hali Industry Co. Ltd.

Domestic

Non-State owned

legal person

0.41% 21283765

CHINA INT'L CAPITAL CORP HONG

KONG SECURITIES LTD

Overseas Legal

person

0.29% 15316067

Explanation on associated relationship among the aforesaid

shareholders

The fourth largest shareholder Guangdong Electric Power

Development Corporation is the wholly-owned subsidiaries of the

largest shareholder Yudean Group. These two companies have

relationships; whether the other shareholders have relationships or

unanimous acting was unknown

Explanation on shareholders participating in the margin

trading business(if any )(See Notes 4)

The Fifth largest shareholder Harbin Daoli District Charity

Foundation holds507156 A shares of the Company through stock

account with credit transaction and guarantee and

holds39370510114 A shares through ordinary stock account hold

39877666 shares of the Company's stock totally.

The Sixth largest shareholder Li Zhuo holds313620 A shares of the

Company through stock account with credit transaction and guarantee

and holds31507323 A shares through ordinary stock account

hold31820943 shares of the Company's stock totally;

The Ninth largest shareholder Harbin Hali Industry Co. Ltd.holds341120 A shares of the Company through stock account with

credit transaction and guarantee and holds 20942645 A shares

through ordinary stock account hold 21283765 shares of the

Company's stock totally.

4.Changing of controlling shareholder and practical controller of the Company.

Change of holding shareholder

□ Applicable √ Not applicable

No change of holding shareholder in the report period.

Change of substantial controller

□ Applicable √ Not applicable

No change of substantial controller in the report period.

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

□ Applicable √ Not applicable

No preference shareholders in the reporting period

6.Corporate bonds

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

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

Yes

1.Basic information of corporate bonds

Bond name Bond short name Bond code Due day

Bond balance(ten

thousand)

Interest

rate

2012 Corporate bonds of Guangdong

Electric Power Development Co. Ltd..

12 Yudean Bond 112162.SZ March 172020 4030.65 4.95%

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

Ten thousand

Items

As at the end of the reporting

period

As at the end of last year YoY+/-（%）

Debt ratio 59.48% 58.17% 1.31%

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

EBITDA interest coverage ratio 2.56 1.7 50.59%

III. Performance discussion & analysis

1．Performance Review for Reporting period

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

No

During the reporting period the electricity consumption of the whole society in Guangdong Province was

293.05 billion kwh an increase of 9.3% YOY so the growth rate continued to rise. The West-to-east electricitytransmission was 9.27 billion kwh（The new units in the province are put into production totaling 1.219 millionKWH） the nuclear power and gas power will be increased by 0.6% and 4.8% respectively. the hydropower of the

province fell by 38.7%，the average utilization hours for the company holding coal-fired units are 2214 hoursincreased by 255 hours on year-on-year basis.

During the reporting period thanks to the continuous tightening of power balance the optimization and

adjustment of fixed assets depreciation period as well as the better profitability of associates the company's

profitability has been significantly improved year on year. As of June 2018 the total assets of the Company by

consolidated statements amounted to RMB 72.817 billion an increase of 2.55% YOY; and the interests

attributable to shareholders of the parent company was RMB 23.676 billion an decrease of 0.08% YOY. The

company achieved the operating income by consolidated statements of RMB 13.895 billion an increase of

12.19% YOY; the net profit attributable to shareholders of the parent company was RMB 448 million a YOY

increase of 248.65%; the earnings per share was RMB 0.0853. The company's liabilities by consolidated

statements totaled to RMB 43.308 billion with that the asset-liability ratio was 59.48%.

In 2018 the scale of power market transactions in Guangdong Province is expected to reach 160 billion kWh

accounting for 40% of the province's power generation up 45% year-on-year and the transaction scale continues

to expand. The company continues to strengthen marketing strive for the base electricity and compete for market

electricity. The subordinate power plants sign a bilateral negotiation transacted electricity quantity of 25.38 billion

kWh accounting for 23% of the size of the similar market; the market bidding electricity is 4.95 billion kWh

accounting for 22% of the size of the similar market; the electricity sold by the subsidiary companies accounts for

13.72% of the size of the similar trading market which continues to stay ahead. The company insists on

carrying out monthly business analysis and benchmarking analysis of technical and economic indicators insists

on the early warning mechanism for the completion of important indicators monitors the operation of subordinate

power plants and urges units with large indicator deviations to propose and implement improvement measures;

meanwhile for the main business elements conducts special analysis of electricity and coal consumption

etc.from time to time and optimizes business methods. The company actively responds to the tight balance of the

capital market makes overall planning and rationally allocates. In the first half of the year it successfully

registered 4 billion yuan of super & short-term financing and 5 billion yuan of medium-term notes issuing amount

in the Bank of China Market Dealers Association and under the very tight market funding circumstance it issued

a super & short-term financing of 500 million yuan at an interest rate of 4.25%.

According to the “Thirteenth Five-Year Development Planning Report” reviewed and approved by the Board of

Directors the company adheres to the development direction of clean energy. During the reporting period the

newly added 300000 kw offshore wind-power project was approved and the #4 unit (460000 kW) of Huizhou

Natural Gas Cogeneration Expansion Project and the Zhanjiang Qujie Wind Power Project (49500 kW) under

holding and construction by the company were put into operation. Some natural gas projects wind power projects

and other clean energy projects under key construction by the company have been steadily advanced. Among

them 25 wind turbines in the Shibanling wind power project in Zhanjiang have been hoisted and 14 wind

turbines are connected to the grid; the #5 and #6 units of Huizhou Natural Gas Cogeneration Expansion Project is

also scheduled to be put into production during the year.

2.Maters related to financial report

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

financial report for the prior year

□ Applicable √ Not applicable

No such cases in the reporting period.

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

□ Applicable √ Not applicable

No such cases in the reporting period.

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

the prior year

√ Applicable □Not applicable

New Subsidiary Establishment of the Year

Name Business place Registered

address

Nature Registered

capital

Proportion

(%)

Acquired

Guangdong Zhencheng Energy

Co.Ltd.

Maoming

Guangdong

Maoming

Guangdong

Electric

Power

20000000 53.29% Invested

The Board of Directors of Guangdong Electric Power Development Co. Ltd.

Chairman of the board:Wang Jin

August 312018