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

Announcement No.: 2020-47

Guangdong Electric power Development Co. Ltd.Summary of the Semi-Annual Report 2020

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.

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

Name of director absent Title for absent director Reasons for absent Attorney

Wang Jin Director Due to business Zheng Yunpeng

Li Fangji Director Due to business Zheng Yunpeng

Chen Ze Director Due to business Rao Subo

Yan Ming Director Due to business Wen Lianhe

Liang Peilu Director Due to business Sha Qilin

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 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

Province

36/F South Tower Yudean Plaza No.2

Tianhe Road East GuangzhouGuangdong

Province

Tel (020)87570251 (020)87570251

E-mail liuw@ged.com.cn qinxiao@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 year YoY+/-（%）

Operating income（RMB） 12539917823 12874181250 -2.60%

Net profit attributable to the shareholders

of the listed company（RMB）

813684495 581569383 39.91%

Net profit after deducting of non-recurring

gain/loss attributable to the shareholders of

listed company（RMB）

784542709 588588917 33.29%

Cash flow generated by business operation

net（RMB）

4018221897 3803441801 5.65%

Basic earning per share(RMB/Share) 0.1550 0.1108 39.89%

Diluted gains per

share(RMB/Share)(RMB/Share)

0.1550 0.1108 39.89%

Weighted average ROE(%) 3.03% 2.37% 0.66%

As at the end of the

reporting period

As at the end of last year YoY+/-（%）

Gross assets (RMB) 79265582617 75472027123 5.03%

Net assets attributable to shareholders of

the listed company （RMB）

26356282412 26178241077 0.68%

III. Shareholders and shareholding

In shares

Total Number of common shareholders at the end of

the reporting period

94823

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

Proportion of

shares held

（%）

Number of

shares held at

period -end

Amount of

restricted shares

held

Number or share

pledged/frozen

State of share Amount

Guangdong Energy Group Co.Ltd.State-owned legal

person

67.39% 3538005285 1893342621

China Securities Finance Co.

Ltd.State-owned legal

person

2.84% 148862420

Guangzhou Development Group

Co. Ltd.

State-owned legal

person

2.22% 116693602

Guangdong Electric Power

Development Corporation

State-owned legal

person

1.80% 94367341

Li Zhuo

Domestic Natural

person

0.60% 31756823

Zheng Jianxiang

Domestic Natural

person

0.45% 23372798

Harbin Hali Industry Co. Ltd.

Domestic

Non-State owned

legal person

0.40% 20942945

VANGUARD TOTAL

INTERNATIONAL STOCK

INDEX FUND

Overseas Legal

person

0.34% 17697397

CHINA INT'L CAPITAL CORP Overseas Legal 0.29% 15216066

HONG KONG SECURITIES

LTD

person

Harbin Daoli District Charity

Foundation

Domestic

Non-State owned

legal person

0.26% 13667406

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 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 trading business(if any )(See Notes 4)

The Fifth largest shareholder Li Zhuo holds 249500 A shares of the Company

through A shares ordinary stock account and holds 31756823A shares of the

Company through stock account with credit transaction and guarantee.

The Seventh largest shareholder Harbin Hali Industry Co. Ltd. holds300 A

shares of the Company through A shares ordinary stock account and holds

20942645 6A shares of the Company through stock account with credit

transaction and guarantee hold 20942945 shares of the Company's stock

totally.The Tenth largest shareholder Harbin Daoli District Charity Foundation

holds16800 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 hold 13667406 shares of the

Company's stock totally.

IV. 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

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 Issue day Due day

Bond

balance

(Ten

thousand )

Interest

rate

Public Issuance of Corporate Bonds to

Qualified Investors in 2020 (Phase I)

20 Yudean

01

149113.SZ April 292020 April 292025 150000 2.45%

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

In RMB 10000s

Items

As at the end of the reporting

period

As at the end of last year YoY+/-（%）

Asset liabilities ratio 56.62% 55.92% 0.70%

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

EBITDA interest coverage ratio 3.25 2.41 34.85%

III. Performance discussion & analysis

1．Performance Review for Reporting period

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

No

In the first half of 2020 affected by the COVID-19 the demand for industrial electricity in the whole society

declined. However with the solid resumption of production and business the total electricity consumption in

Guangdong Province reached 296.484 billion kWh which was close to the same level last year and the decline

continued to narrow. From January to June 2020 Guangdong Province's power generation and purchase

decreased by 1.93% year-on-year nuclear power and wind power in Guangdong Province increased by 19.54%

and 23.1% year-on-year and the power purchase of XD Group decreased by 20.36% year-on-year. The company

completed 31.284 billion kWh of on-grid power down by 0.76% year-on-year and the average utilization hours

of holding coal-fired units were 1764 hours down by 60 hours year-on-year.

In 2020 the scale of marketization transaction in Guangdong Province continued to expand with the total volume

reached 260 billion kWh (an increase of 30% over 2019). According to the data released by the Guangdong

Electric Power Trading Center the 2020 annual bilateral negotiation transaction volume organized by the

Guangdong Electric Power Trading Center was 211.713 billion kWh and the average transaction price difference

was -47.1 Cent(RMB)/kWh. In the first half of 2020 the monthly concentrated bidding transaction power was

9.837 billion kWh and the average clearing spread was -33.4 Cent(RMB)/kWh. In 2020 the Company's

budgetary on-grid electricity was 72.867 billion kWh of which the base electricity was 6.054 billion kWh

accounting for about 10%; the annual long-term contracted was 50.317 billion kWh accounting for about 70%;

the rest was monthly bidding volume accounting for about 20%. In the first half of 2020 the average selling price

of the Company's consolidated statements was 442.46 yuan / thousand kWh (excluding tax) a decrease of 17.28

yuan / thousand kWh.In the first half of 2020 under the positive effects of normalization of epidemic prevention and control and overall

planning of economic and social development the company's power production was generally stable the main

cost control effect was good and the profit rate of main business was improved which made the company's

operating performance achieve a certain growth year-on-year. As of June 2020 the total assets according to the

company's consolidated statements were 79.266 billion yuan with an increase of 5.03% over the beginning of the

year and the equity attributable to shareholders of the parent company was 26.356 billion yuan with an increase

of 0.68% over the beginning of the year. The company's revenue according to the consolidated statement was

12.54 billion yuan with a year-on-year decrease of 2.60%; The net profit attributable to shareholders of the parent

company was 814 million yuan with a year-on-year increase of 39.91%; Earnings per share is 0.1550 yuan.

According to the consolidated statement of the company the total liabilities are 44.877 billion yuan and the

asset-liability ratio is 56.62%.In the first half of 2020 all 36 wind turbines of the Wailuo offshore wind power project (36×0.55 million

kilowatts) which was controlled by the company were put into operation in parallel and 34 of them passed the

250h trial operation and were officially put into production increasing the controllable installed capacity by

187000 kilowatts. As of June 2020 the company has controllable installed capacity of 21.192 million kilowatts

including holding installed capacity of 19.536 million kilowatts and equity participation installed capacity of

1.657 million kilowatts. Including: the holding installed capacity for coal-fired power generation of 15.09 million

kilowatts accounting for 77.2%; The holding installed capacity for gas and electricity of 3.72 million kilowatts

accounting for 19.0%; The holding installed capacity for renewable energy power generation such as wind power

and hydropower of 726000 kilowatts accounting for 3.7%. In addition the company's installed capacity under

management is 13.273 million kilowatts (11.069 million kilowatts for thermal power and 2.204 million kilowatts

for hydropower) with the above-mentioned controllable installed capacity and the installed capacity under

entrusted management totaling 34.465 million kilowatts.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

The Ministry of Finance promulgated the revised Accounting Standards for Business Enterprises No.14-Income

in 2017 (hereinafter referred to as the "New Income Standards") and the Group has adopted the above standards

and notices to prepare the financial statements for 2020.

(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 Yudean Daya Bay Integrated

Energy Co. Ltd.

Huizhou Huizhou

Electric

Power

22000000 80% Establish

Guangdong Yudean Qiming Energy Co. Ltd. Shenzhen Shenzhen

Electric

Power

20000000 100% Establish

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

Chairman of the Board: Wang Jin

August 28 2020