粤电力Ｂ：2021年半年度报告（英文版）.PDF

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 1 GUANGDONG ELECTRIC POWER DEVELOPMENT CO., LTD. The Semi-annual Report 2021 August 2021 Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 2 I. Important Notice, Table of Contents and Definitions The Board of Directors , Supervisory Committee ,Directors, Supervisors and Senior Executives of the Company hereby guarantees that there are no misstatement, misleading representation or important omissions in this report and shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof. Mr.Wang Jin, The Company leader, Mr. Liu Wei, Chief financial officer and the Mr.Meng Fei, the person in charge of the accounting department (the person in charge of the accounting )hereby confirm the authenticity and completeness of the financial report enclosed in this semi-annual report. Directors other than the following ones have attended the Board meeting to review the Semi-annual report. Name of absent director Position of absent director Reason Name of proxy Mao Qinghan Director Due to business Wang Xi Shen Hongtao Independent director Due to business Wang Xi Li Fangje Director Due to business Li Baobing The Company is mainly engaged in thermal power generation. The business of thermal power generation is greatly affected by factors including electric power demand and fuel price. For details, please refer to the possible risk factors that the company may face in the X Risks facing the Company and countermeasures in the Section III Management Discussion & Analysis. The Company Will not distribute cash dividend or bonus shares, neither capitalizing of common reserves. Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 3 Table of Contents I.Important Notice, Table of contents and Definitions II. Company Profile & Financial Highlights. III. Management Discussion & Analysis IV. Corporate Governance V. Environmental & Social Responsibility VI. Important Events VII. Change of share capital and shareholding of Principal Shareholders VIII. Situation of the Preferred Shares IX. Corporate Bond X. Financial ReportGuangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 4 Documents available for inspection 1.Financial statements bearing the seal and signature of legal representative, financial controller and the person in charge of the accounting organ; 2. All original copies of official documents and notices, which were disclosed in Securities Times, China Securities and Hong Kong Commercial Daily (Both English and Chinese version); 3. Chinese version of the semi-annual report. The documents mentioned above are kept in office, and are ready for reference at any time (except public holidays, Saturday and Sunday). Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 5 Definition Terms to be defined Refers to Definition Guangdong Energy Group Refers to Guangdong Energy Group Co., Ltd. Guangqian Company Refers to Shenzhen Guangqian Electric Power Co., Ltd. Bohe Company Refers to Guangdong Yudean Bohe Energy Co., Ltd. (formerly Guangdong Yudean Bohe Coal & Electricity Co., Ltd. renamed on February 25, 2021) Dapu Company Refers to Guangdong Dapu Power Generation Co., Ltd. Wind Power Company Refers to Guangdong Wind Power Co., Ltd. Lincang Company Refers to Lincang Yudean Energy Co., Ltd. Qujie Wind Power Company Refers to Guangdong Yudean Qujie Wind Power Generation Co., Ltd. Electric Power Sales Company Refers to Guangdong Yudean Electric Power Sales Co., Ltd. Anxin Electric Inspection & Installation Company Refers to Guangdong Yudean Anxin Electric Inspection & Installation Co., Ltd Tongdao Wind Power Company Refers to Tongdao Yuexin Wind Power Generation Co., Ltd. Zhongyue Compamy Refers to Zhanjiang Zhongyue Energy Co., Ltd. Yuejiang Company Refers to Guangdong Shaoguan Yuejiang Power Generation Co., Ltd. Yongan Natural Gas Company Refers to Guangdong Yudean Yongan Natural Gas Thermal Power Co., Ltd. Leizhou Wind Power Company Refers to Guangdong Yudean Leizhou Wind Power Generation Co., Ltd. Zhanjiang Company Refers to Zhanjiang Electric Power Co., Ltd. Zhanjiang Wind Power Company Refers to Guangdong Yudean Zhanjiang Wind Power Co., Ltd. Huizhou Natural Gas Company Refers to Guangdong Huizhou Natural Gas Power Co., Ltd. Maoming Thermal Power Plant Refers to Guangdong Energy Maoming Thermal Power Co., Ltd. Jinghai Company Refers to Guangdong Yudean Jinghai Power Co., Ltd. Red Bay Company Refers to Guangdong Red Bay Power Co., Ltd. Huadu Natural Gas Company Refers to Guangdong Huadu Natural Gas Thermal Power Co., Ltd. Humen Power Company Refers to Guangdong Yudean Humen Power Co., Ltd. Yuejia Company Refers to Guangdong Yuejia Electric Power Co., Ltd. Pinghai Power Plant Refers to Guangdong Hluizhou Pinghai Power Co., Ltd. Pingdian Integrated Energy Company Refers to Huizhou Pingdian Integrated Energy Co., Ltd. Zhencheng Integrated Energy Company Refers to Guangdong Yudean Zhencheng Integrated Energy Co., Ltd. Binhaiwan Energy Company Refers to Guangdong Yudean Binhaiwan Energy Co., Ltd. Dianbai Wind Power Company Refers to Guangdong Yudean Dianbai Wind Power Co., Ltd. Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 6 Yangjiang Wind Power Company Refers to Guangdong Yudean Yangjiang Offshore Wind Power Co., Ltd. Heping Wind Power Company Refers to Guangdong Yudean Heping Wind Power Co., Ltd. Pingyuan Wind Power Company Refers to Guangdong Yudean Pingyuan Wind Power Co., Ltd. Zhuhai Wind Power Company Refers to Guangdong Yudean Zhuhai Offshore Wind Power Co., Ltd. Wuxuan Wind Power Company Refers to Guangxi Wuxuan Yudean New Energy Co., Ltd. Xupu Wind Power Company Refers to Hunan Xupu Yuefeng New Energy Co., Ltd. Shibeishan Wind Power Refers to Guangdong Yudean Shibeishan Wind Energy Development Co., Ltd. Huilai Wind Power Company Refers to Huilai Wind Power Generation Co., Ltd. Yudean Fuel Company Refers to Guangdong Power Industry Fuel Co., Ltd. Yudean Insurance Captive Company Refers to Guangdong Yudean Property Insurance Captive Co., Ltd. Shanxi Energy Company Refers to Shanxi Yudean Energy Co., Ltd. Yudean Shipping Company Refers to Guangdong Yudean Shipping Co., Ltd. Yudean Western Investment Company Refers to Guangdong Yudeann Holdings Western Investment Co., Ltd. Energy Group Finance Company Refers to Guangdong Energy Group Finance Co., Ltd. Energy Financial Leasing Company Refers to Guangdong Energy Energy Financial Leasing Co., Ltd. Guohua Taishan Company Refers to Guangdong Guohua Yudean Taishan Power Generation Co., Ltd. Weixin Energy Co., Ltd. Refers to Yunnan Yuntou Weixin Energy Co., Ltd. Zhongxinkeng hydropower station Refers to Yangshan Zhongxinkeng Power Co., Ltd. Jiangkeng hydropower station Refers to Yangshan Jiangkeng hydropower station Southern Offshore wind power Refers to Southern Offshore wind power Union Development Co., Ltd. Sunshine Insurance Refers to Sunshine Insurance Group Co., Ltd. Shenzhen Capital Refers to Shenzhen Capital Group Co., Ltd. GMG Refers to GMG International Tendering Co., Ltd. Shenzhen Energy Refers to Shenzhen Energy Group Co., Ltd. Shenergy Company Refers to Shenergy Company Limited Environmental Protection Company Refers to Guangdong Yudean Environmental Protection Co., Ltd. Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 7 II. Company Profile & Financial Highlights. I.Company information Stock abbreviation Yue Dian Li A, Yue Dian Li B Stock code： 000539，200539 Stock exchange for listing Shenzhen Stock Exchange Name in Chinese 广东电力发展股份有限公司 Abbreviation of Registered Company Name in Chinese(If any) 粤电力 English name (If any) GUANGDONG ELECTRIC POWER DEVELOPMENT CO.,LTD English abbreviation (If any) GED Legal Representative Wang Jin .Contact person and contact manner Board secretary Securities affairs Representative Name Liu Wei Qin Xiao Contact address 35F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province 36/F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province Tel (020)87570251 (020)87570251 Fax (020)85138084 (020)85138084 E-mail III. Other info. 1. Way of contact Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or not Applicable Not applicable Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period, found more details in annual report 2020. 2. Information inquiry Whether information disclosure and preparation place changed in reporting period or not Applicable Not applicable Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 8 None of the official presses, website, and place of enquiry has been changed in the semi report period. For details please find the Annual Report 2020. IV.Summary of Accounting data and Financial index 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（yuan） 17,781,521,221 12,539,917,823 41.80% Net profit attributable to the shareholders of the listed company（yuan） 109,028,853 813,684,495 -86.60% Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（yuan） 90,377,204 784,542,709 -88.48% Cash flow generated by business operation, net（yuan） 3,096,857,643 4,018,221,897 -22.93% Basic earning per share(yuan/Share) 0.0208 0.1550 -86.60% Diluted gains per share(yuan/Share) 0.0208 0.1550 -86.60% Weighted average income/asset ratio （%） 0.40% 3.03% -2.63% As at the end of the reporting period As at the end of last year YoY+/-（%） Gross assets（yuan） 92,331,563,629 85,970,818,168 7.40% Shareholders equity attributable to shareholders of the listed company（yuan） 26,933,339,749 27,369,995,422 -1.60% V.The differences between domestic and international accounting standards 1 Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed in the financial reports of differences in net income and net assets. Applicable Not applicable In RMB Net profit attributable to the shareholders of the listed company Net Assets attributable to the shareholders of the listed company Amount in the reporting period Amount in the previous period End of the reporting period Beginning of the reporting period According to CAS 109,028,853 813,684,495 26,933,339,749 27,369,995,422 Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 9 Items and amount adjusted according to IAS The difference arising from recognition of goodwill after merger of enterprises under the same control(a) 38,638,777 38,638,777 Difference arising from recognition of land use value after enterprise merger -315,000 -315,000 16,025,000 16,340,000 Influence on minority interests(b) 27,060 27,060 4,945,519 4,918,459 According to IAS 108,740,913 813,396,555 26,992,949,045 27,429,892,658 2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards. Applicable Not applicable The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or Chinese GAAP(Generally Accepted Accounting Principles) in the period. 3.Note to the Difference in the Accounting Data based on the Accounting Standards of CAS and IAS. Applicable Not applicable (a) The difference arising from recognition of goodwill after merger of enterprises under the same control and recognition of land value after enterprise merger. As required by new Chinese accounting standards, the goodwill formed by the merger of enterprises under the same control shall not be recognized and capital surplus shall be adjusted. Under IFRS, the golldwill formed by the merger of enterprises under the same control shall be recognized and equal to the difference between merger cost and share of fair value of recognizable net assets of the purchased party obtained in merger. Meanwhile, all assets of the purchased party obtained in merger shall be accounted for according to their fair value while such assets shall be accounted for according to their book value according to original Chinese accounting standards for business enterprises. Therefore, this difference will continue to exist. (b) Influence on minority interests Housing reform loss occurred to the Company and some holding subsidiaries. Therefore, theres some influence on minority interests. VI.Items and amount of deducted non-current gains and losses Applicable Not applicable In RMB Items Amount Notes Non-current asset disposal gain/loss(including the write-off part 23,852,682 Mainly due to Yuejia Company Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 10 for which assets impairment provision is made) shut-down and liquidation of assets to obtain income. Government subsidy recognized in current gain and loss(excluding those closely related to the Companys business and granted under the states policies) 6,433,278 Mainly due to power sales economic policy incentives and subsidies for various power plant projects. Other non-business income and expenditures other than the above 595,487 Fines and overdue payment fees -209,860 Non-current assets scrap income 7,507,022 Mainly due to the income from scrapped fixed assets of Guangdong wind power and Pinghai Power Plant. Loss of Non-current assets scrapped -4,006,514 Less: Amount of influence of income tax 8,588,045 Influenced amount of minor shareholders equity (after tax) 6,932,401 Total 18,651,649 - For the Companys non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on information disclosure for Compaines Offering their Securities to the Public-Non-recurring Gains and Losses and its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as recurring gains and losses, it is necessary to explain the reason. Applicable Not applicable Items Amount involved Reason Value-added tax will be refunded immediately 4,141,947 Comply with national policies and regulations, and continue to occur Carbon emission quota used to fulfil the emission reduction obligation -2,750,000 Comply with national policies and regulations, and continue to occur Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2021 11 III. Management Discussion & Analysis .Main Business the Company is Engaged in During the Report Period The Company shall comply with the disclosure requirements of Shenzhen Stock Exchange Industry Information Disclosure Guidelines No.15-Listed Companies Engaged in Power-related Business The Company mainly engages in the