Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2023

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

Announcement No.：2023-42

Corporate bond code: 149369 Abbreviation of corporate bond:21 Yudean 01

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 2023

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.Other directors attending the Meeting for Semi-annual report deliberation except for the followed:

The name of director who did Position of absent The name of director who

Reason

not attend the meeting in person director was authorized

Mao Qinghan Director Due to business Ma Xiaoqian

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 000539200539

Stock exchange for

Shenzhen Stock Exchange

listing

Contact person and

Board secretary Securities affairs Representative

contact manner

Name Liu Wei Huang Xiaowen

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

Address

Road East GuangzhouGuangdong Province Road East 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

1Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2023

√Yes□ No

Retroactive adjustment or restatement of causes

Accounting policy change

Changes of this

period over same

Same period of last year

Reporting period period of Last

year(%)

Before adjustment After adjustment After adjustment

Operating income（Yuan） 28340840884 22611239733 22611239733 25.34%

Net profit attributable to the shareholders

856538633-1375739165-1371743904162.44%

of the listed company（Yuan）

Net profit after deducting of non-recurring

gain/loss attributable to the shareholders of 849010727 -1399609834 -1395614573 160.83%

listed company（Yuan）

Cash flow generated by business operation

2720370016-208358510-2083585101405.62%

net（Yuan）

Basic earning per share(Yuan/Share) 0.1631 -0.2620 -0.2613 162.44%

Diluted gains per share(Yuan/Share) 0.1631 -0.2620 -0.2613 162.44%

Weighted average ROE(%) 3.86% -6.23% -6.21% 10.07%

Changed over last

As at the end of the As at the end of last year

year（％）

reporting period

Before adjustment After adjustment After adjustment

Gross assets（Yuan） 143012763745 131504274884 131623802701 8.65%

Net assets attributable to shareholders of

2115344113120241872479203502936193.95%

the listed company（Yuan）

Reasons of accounting policy change and correction of accounting errors

In 2022 the Ministry of Finance promulgated the Interpretation No.16 of Accounting Standards for

Business Enterprises (CS [2022] No.31) (hereinafter referred to as "Interpretation No.16"). Since January 1

2023 the company has adopted the accounting treatment provisions in Interpretation No.16 that deferred

income tax related to assets and liabilities arising from a single transaction is not applicable to initial

recognition exemption. For the applicable single transactions that occurred between the beginning of the earliest

period of presentation in the financial statements of the first implementation of Interpretation No.16 and its

implementation date the company has made adjustments in accordance with regulations; In case of taxable

temporary differences and deductible temporary differences arising from the lease liabilities and right-to-use

assets recognized at the beginning of the earliest period of presentation in the financial statements of

Interpretation No.16 during its implementation for the first time the company will adjust the initial retained

income and other related financial statement items at the beginning of the earliest period of presentation in the

financial statements according to the cumulative impact.

3. Shareholders and shareholding

In RMB

Total Number of common

Number of shareholders of preferred stocks of which

shareholders at the end of the 101889 0

voting rights recovered in the report period(If any)

reporting period

Shareholdings of Top 10 shareholders

Number or share

Amount of

Shareholders Proportion Number of pledged/frozen Nature of

of shares shares held at

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

share

held

2Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2023

State-owned

Guangdong Energy Group Co. Ltd. 67.39% 3538037181 1893374517

legal person

Guangzhou Development Group Co. State-owned

2.22%1166936020

Ltd. legal person

Guangdong Electric Power State-owned

1.80%943673410

Development Corporation legal person

ICBC－Bank of Communications Domestic Non-

Schroders trend preferred hybrid State owned 0.94% 49150299 0

securities investment fund legal person

Domestic

Zheng Jianxiang 0.50% 26234500 0

Natural person

VANGUARD TOTAL

Overseas Legal

INTERNATIONAL STOCK INDEX 0.30% 15855512 0

person

FUND

Overseas Legal

HKSCC 0.29% 15306333 0

person

CHINA INTERNATIONAL CAPITAL

Overseas Legal

CORPORATION HONG KONG 0.29% 15216066 0

person

SECURITIES LTD

Bank of Communications Co. Ltd－ Domestic Non-

Yongying long-term value hybrid State owned 0.26% 13556677 0

securities investment fund legal person

Overseas Legal

NOMURA SINGAPORE LIMITED 0.24% 12599843 0

person

The Third largest shareholder Guangdong Electric Power Development

Explanation on associated relationship among the Corporation is the wholly-owned subsidiaries of the largest shareholder

aforesaid shareholders Energy Group. These two companies have relationships; whether the

other shareholders have relationships or unanimous acting was unknown

Explanation on shareholders participating in the margin

Not applicable

trading business(if any )

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 short Bond balance (Ten Tradin

Bond name Bond code Issue day Due day

name thousand yuan ) g

3Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2023

Public Issuance of Corporate

Bonds to Qualified Investors in

2020 (Phase I) of Guandong 20 Yudean

149113.SZ April 292020 April 292023 0 2.45%

Electric Power Development 01

Co.Ltd.Public Issuance of Corporate

Bonds to Qualified Investors in

2021 (Phase I) of Guandong 21 Yudean

149369.SZ January 272021 January 272024 100000 3.57%

Electric Power Development 01

Co.Ltd.Public Issuance of Corporate

Bonds to Qualified Investors in

2021 (Phase II) of Guandong 21Yudean

149418.SZ April 282021 April 282026 150000 3.50%

Electric Power Development 02

Co.Ltd.Public Issuance of Corporate

Bonds to Professional Investors in

21Yedean

2021 (Phase I) of Guandong 149711.SZ November 242021 November 242026 80000 3.41%

03

Electric Power Development

Co.Ltd.Public Issuance of Corporate

Bonds to Professional Investors in

21Pinghai

2021 (Phase I) of Guandong 188197.SH June 42021 June 52023 0 3.57%

01

Huizhou Pinghai Power

Generation Co.Ltd.Public Issuance of Green

Corporate Bonds to professional

G23

Investors in 2023(Phase 115042.SH March 212023 March 212028 60000 3.15%

Yuefeng 2

I)(Variety 2) of Guangdong Wind

Power Generation Co. Ltd.

（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 79.68% 78.09%

Net profit after deducting non-recurring

116044-215202

profit and loss

Current ratio 0.65 0.61

Quick ratio 0.54 0.5

Amount of this period Amount of last period At the same time rate of change

EBITDATime interest earned ratio 2.06 -1.02

Repayment of debt (%) 100% 100%

Payment of interest (%) 100% 100%

III. Significant events

In the first half of 2023 affected by economic and other factors the demand for electricity in Guangdong

Province rose steadily. From January to June the electricity consumption of the whole society in Guangdong

Province was 382.32 billion kWh with a year-on-year increase of 7.5% among which the electricity

consumption of the industry was 319.90 billion kWh with a year-on-year increase of 7.0% and the electricity

consumption of urban and rural residents was 62.42 billion kWh with a year-on-year increase of 10.0%. During

the reporting period the company accumulated 53.457 billion kWh of on-grid electricity in consolidated

statements with a year-on-year increase of 15.34%.

4Guangdong Electric Power Development Co. Ltd. Summary of the Semi-Annual Report 2023

According to the data of Guangdong Electric Power Trading Center in 2023 the electricity volume for

bilateral negotiation transactions in Guangdong Province was 242.65 billion kWh at an average transaction

price of RMB 553.88 per thousand kWh with a year-on-year increase of 11.44% and the average price

difference + RMB 0.091 per kWh. In the first half of 2023 the average on-grid tariff of the company's

consolidated statements was RMB 591.86 per thousand kWh (including tax the same below) with a year-on-

year increase of RMB 49.12 per thousand kWh or 9.05%.In the first half of 2023 China's overall economic operation rebounded power demand continued to grow

the company's power generation and on-grid electricity consumption increased steadily and power generation

income increased significantly. Due to the decline in fuel prices the profitability of the company's thermal

power business has recovered and its new energy business has maintained stable income. The company's

overall performance in the first half of 2023 has turned losses into profits. During the reporting period the

company realized a net profit of RMB 856.54 million with a year-on-year increase of 2228.28 million. The

company realized a net profit attributed to parent company of RMB 207.02 million in coal-fired power business;

254.18 million in gas and electricity business; RMB -23.96 million in hydropower business; RMB 301.46

million in new energy business; and RMB 570.12 million in headquarters investment business.As of the end of June 302023 the company has controllable installed capacity of 31.5117 million

kilowatts including holding installed capacity of 29.7639 million kilowatts and equity participation installed

capacity of 1.7478 million kilowatts. Including: the holding installed capacity for coal-fired power generation of

20.55 million kilowatts and 69.04%; the holding installed capacity for gas and electricity of 6.392 million

kilowatts and21.48% and renewable energy generation like wind power photovoltaic hydropower and biomass

of 2.8219 million kilowatts and 9.48%.in addition The entrusted installed capacity of the company for

management is 8.854 million kilowatts (including 6.65 million kilowatts of thermal power and 2.204 million

kilowatts of hydropower). The above controllable installed capacity and entrusted installed capacity for

management totaled 40.0537 million kilowatts.As of the end of June 2023 the company has an installed capacity of 8 million kilowatts of coal and

electricity under construction approximately 5.455 million kilowatts of gas and electricity under construction

approximately 4.42 million kilowatts of new energy under construction and approximately 11.8 million

kilowatts of new energy projects that have been registered and approved. In the future the company will adhere

to new development concepts continue to promote the optimization and adjustment of power supply structure

actively integrate into the construction of Guangdong Hong Kong Macao Greater Bay Area Shenzhen Pilot

Demonstration Zone and Guangdong's "One Core One Belt One Zone" development actively respond to

China's carbon peak and carbon neutrality "30.60" goals and vigorously promote the company's energy clean

and low-carbon transformation.

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