粤电力B：2023年半年度报告摘要(英文版)
Stock Abbreviation：Yue Dian Li A, Yue Dian Li B Stock Code：000539，200539Announcement No.：2023-42
Corporate bond code: 149369 Abbreviation of corporate bond:21 Yudean 01Corporate bond code: 149418 Abbreviation of corporate bond:21 Yudean 02Corporate bond code: 149711 Abbreviation of corporate bond: 21 Yudean 03
Guangdong Electric power Development Co., Ltd.Summary of the Semi-Annual Report 2023I. Important notesThis summary of the Semi-Annual Report is quoted out of the full text of the Semi-Annual Report. Investorsdesirous to understand entirely the company's operation results, financial position and future developmentplanning are advised to carefully read the full text of the Semi-Annual Report which is published in the mediumdesignated by CSRC.Other directors attending the Meeting for Semi-annual report deliberation except for the followed:
| The name of director who did not attend the meeting in person | Position of absent director | Reason | The name of director who 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 sharecapital 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 | 000539,200539 |
| Stock exchange for listing | Shenzhen Stock Exchange | ||
| Contact person and contact manner | Board secretary | Securities affairs Representative | |
| Name | Liu Wei | Huang Xiaowen | |
| Address | 35/F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province | 35/F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province | |
| Tel | (020)87570251 | (020)87570251 | |
| 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
Retroactive adjustment or restatement of causesAccounting policy change
| Reporting period | Same period of last year | Changes of this period over same period of Last year(%) | ||
| Before adjustment | After adjustment | After adjustment | ||
| Operating income（Yuan） | 28,340,840,884 | 22,611,239,733 | 22,611,239,733 | 25.34% |
| Net profit attributable to the shareholders of the listed company（Yuan） | 856,538,633 | -1,375,739,165 | -1,371,743,904 | 162.44% |
| Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（Yuan） | 849,010,727 | -1,399,609,834 | -1,395,614,573 | 160.83% |
| Cash flow generated by business operation, net（Yuan） | 2,720,370,016 | -208,358,510 | -208,358,510 | 1,405.62% |
| 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% |
| As at the end of the reporting period | As at the end of last year | Changed over last year（％） | ||
| Before adjustment | After adjustment | After adjustment | ||
| Gross assets（Yuan） | 143,012,763,745 | 131,504,274,884 | 131,623,802,701 | 8.65% |
| Net assets attributable to shareholders of the listed company（Yuan） | 21,153,441,131 | 20,241,872,479 | 20,350,293,619 | 3.95% |
Reasons of accounting policy change and correction of accounting errorsIn 2022, the Ministry of Finance promulgated the Interpretation No.16 of Accounting Standards forBusiness 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 deferredincome tax related to assets and liabilities arising from a single transaction is not applicable to initialrecognition exemption. For the applicable single transactions that occurred between the beginning of the earliestperiod of presentation in the financial statements of the first implementation of Interpretation No.16 and itsimplementation date, the company has made adjustments in accordance with regulations; In case of taxabletemporary differences and deductible temporary differences arising from the lease liabilities and right-to-useassets recognized at the beginning of the earliest period of presentation in the financial statements ofInterpretation No.16 during its implementation for the first time, the company will adjust the initial retainedincome and other related financial statement items at the beginning of the earliest period of presentation in thefinancial statements according to the cumulative impact.
3. Shareholders and shareholding
In RMB
| Total Number of common shareholders at the end of the reporting period | 101,889 | 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% | 3,538,037,181 | 1,893,374,517 | ||
| Guangzhou Development Group Co., Ltd. | State-owned legal person | 2.22% | 116,693,602 | 0 | ||
| Guangdong Electric Power Development Corporation | State-owned legal person | 1.80% | 94,367,341 | 0 | ||
| ICBC－Bank of Communications Schroders trend preferred hybrid securities investment fund | Domestic Non-State owned legal person | 0.94% | 49,150,299 | 0 | ||
| Zheng Jianxiang | Domestic Natural person | 0.50% | 26,234,500 | 0 | ||
| VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | Overseas Legal person | 0.30% | 15,855,512 | 0 | ||
| HKSCC | Overseas Legal person | 0.29% | 15,306,333 | 0 | ||
| CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LTD | Overseas Legal person | 0.29% | 15,216,066 | 0 | ||
| Bank of Communications Co., Ltd－Yongying long-term value hybrid securities investment fund | Domestic Non-State owned legal person | 0.26% | 13,556,677 | 0 | ||
| NOMURA SINGAPORE LIMITED | Overseas Legal person | 0.24% | 12,599,843 | 0 | ||
| Explanation on associated relationship among the aforesaid shareholders | The Third 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 ) | 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. Corporate bonds that existed on the date when this Report was authorized for issue
√Applicable□ Not applicable
（1）Basic information of corporate bonds
| Bond name | Bond short name | Bond code | Issue day | Due day | Bond balance (Ten thousand yuan ) | Trading |
| Public Issuance of Corporate Bonds to Qualified Investors in 2020 (Phase I) of Guandong Electric Power Development Co.,Ltd. | 20 Yudean 01 | 149113.SZ | April 29,2020 | April 29,2023 | 0 | 2.45% |
| Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase I) of Guandong Electric Power Development Co.,Ltd. | 21 Yudean 01 | 149369.SZ | January 27,2021 | January 27,2024 | 100,000 | 3.57% |
| Public Issuance of Corporate Bonds to Qualified Investors in 2021 (Phase II) of Guandong Electric Power Development Co.,Ltd. | 21Yudean 02 | 149418.SZ | April 28,2021 | April 28,2026 | 150,000 | 3.50% |
| Public Issuance of Corporate Bonds to Professional Investors in 2021 (Phase I) of Guandong Electric Power Development Co.,Ltd. | 21Yedean 03 | 149711.SZ | November 24,2021 | November 24,2026 | 80,000 | 3.41% |
| Public Issuance of Corporate Bonds to Professional Investors in 2021 (Phase I) of Guandong Huizhou Pinghai Power Generation Co.,Ltd. | 21Pinghai 01 | 188197.SH | June 4,2021 | June 5,2023 | 0 | 3.57% |
| Public Issuance of Green Corporate Bonds to professional Investors in 2023(Phase I)(Variety 2) of Guangdong Wind Power Generation Co., Ltd. | G23 Yuefeng 2 | 115042.SH | March 21,2023 | March 21,2028 | 60,000 | 3.15% |
（2） Financial indicators as of the end of the reporting period
In RMBI10,000
| 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 profit and loss | 116,044 | -215,202 |
| 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 eventsIn the first half of 2023, affected by economic and other factors, the demand for electricity in GuangdongProvince rose steadily. From January to June, the electricity consumption of the whole society in GuangdongProvince was 382.32 billion kWh, with a year-on-year increase of 7.5%, among which, the electricityconsumption of the industry was 319.90 billion kWh, with a year-on-year increase of 7.0%, and the electricityconsumption of urban and rural residents was 62.42 billion kWh, with a year-on-year increase of 10.0%. Duringthe reporting period, the company accumulated 53.457 billion kWh of on-grid electricity in consolidatedstatements, with a year-on-year increase of 15.34%.
According to the data of Guangdong Electric Power Trading Center, in 2023, the electricity volume forbilateral negotiation transactions in Guangdong Province was 242.65 billion kWh, at an average transactionprice of RMB 553.88 per thousand kWh, with a year-on-year increase of 11.44%, and the average pricedifference + RMB 0.091 per kWh. In the first half of 2023, the average on-grid tariff of the company'sconsolidated 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 generationincome increased significantly. Due to the decline in fuel prices, the profitability of the company's thermalpower business has recovered, and its new energy business has maintained stable income. The company'soverall performance in the first half of 2023 has turned losses into profits. During the reporting period, thecompany realized a net profit of RMB 856.54 million, with a year-on-year increase of 2,228.28 million. Thecompany 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 301.46million in new energy business; and RMB 570.12 million in headquarters investment business.
As of the end of June 30,2023, the company has controllable installed capacity of 31.5117 millionkilowatts, including holding installed capacity of 29.7639 million kilowatts and equity participation installedcapacity 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 millionkilowatts and21.48% and renewable energy generation like wind power, photovoltaic, hydropower and biomassof 2.8219 million kilowatts and 9.48%.in addition, The entrusted installed capacity of the company formanagement is 8.854 million kilowatts (including 6.65 million kilowatts of thermal power and 2.204 millionkilowatts of hydropower). The above controllable installed capacity and entrusted installed capacity formanagement totaled 40.0537 million kilowatts.
As of the end of June 2023, the company has an installed capacity of 8 million kilowatts of coal andelectricity 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 millionkilowatts of new energy projects that have been registered and approved. In the future, the company will adhereto 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 PilotDemonstration Zone, and Guangdong's "One Core, One Belt, One Zone" development, actively respond toChina's carbon peak and carbon neutrality "30.60" goals, and vigorously promote the company's energy cleanand low-carbon transformation.