Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 GUANGDONG ELECTRIC POWER
DEVELOPMENT CO., LTD
The Semi-annual Report 2018
August 2018
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 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 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|

This semi-annual report involves the forecasting description such as the future plans, and does not constitute the actual commitments of the company to the investors. Investors and stakeholders should all maintain sufficient awareness of risks for this and understand the differences between plans, forecasts and commitments.
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. Refer to Section X(4) of Chapter 4 of this annual report-situation faced and countermeasures for relevant information.
The Company Will not distribute cash dividend or bonus shares, neither capitalizing of common reserves for the report period.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Table of Contents
2017 Semi- Annual Report
I. Important Notice and Definitions
II. Corporate Profile and Key Financial Results
III. Business Profile
IV. Performance Discussion and Analysis
V. Important Events
VI. Change of share capital and shareholding of Principal Shareholders
VII. Situation of the Preferred Shares
VIII.Information about Directors, Supervisors and Senior Executives
IX. Corporate Bonds.
X.Financial Report
XI. Documents available for inspection
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Definition
|||||||
|-|-|-|-|-|-|
|Terms to be defined||Refers to|Definition|||
|Yudean Group||Refers to|Guangdong Yudean Group Co., Ltd.|||
|Zhanjiang Company||Refers to|Zhanjiang Electric Power Co., Ltd.|||
|Yuejiang Company||Refers to|Guangdong Shaoguan Yuejiang Power Generation Co., Ltd.|||
|Zhenneng Company||Refers to|Maoming Zhenneng Thermal Power Co., Ltd.|||
|Jinghai Company||Refers to|Guangdong Yudean Jinghai Power Co., Ltd.|||
|Zhanjiang Wind Power Company||Refers to|Guangdong Yudean Zhanjiang Wind Power Co., Ltd.|||
|Zhongyue Compamy||Refers to|Zhanjiang Zhongyue Energy Co., Ltd.|||
|Bohe Company||Refers to|Guangdong Yudean Bohe Coal & Electricity Co., Ltd|||
|Guangqian Company||Refers to|Shenzhen Guangqian Electric Power Co., Ltd.|||
|Huihou Natural Gas Company||Refers to|Guangdong Huizhou Natural Gas Power Co., Ltd.|||
|Red Bay Company||Refers to|Guangdong Red Bay Power Co., Ltd.|||
|Pinghai Power Plant||Refers to|Guangdong Hluizhou Pinghai Power Co., Ltd.|||
|Humen Power Company||Refers to|Guangdong Yudean Humen Power Co., Ltd.|||
|Anxin Electric Inspection & Installation||||||
|||Refers to|Guangdong Yudean Anxin Electric Inspection & Installation Co., Ltd|||
|Company||||||
|Guohua Taishan||Refers to|Guangdong Guohua Yudean Taishan Power Generation Co., Ltd.|||
|Yudean Industry Fuel Company||Refers to|Guangdong Power Industry Fuel Co., Ltd.|||
|Huadu Natural Gas Company||Refers to|Guangdong Huadu Natural GasT Thermal Power Co., Ltd.|||
|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 Yuntou Yudean Hydroelectricity Development Co., Ltd.|||
|Qujie Wind Power Company||Refers to|Guangzhou Yudean Qujie Wind Power Generation Co., Ltd.|||
|Electric Power Sales Company||Refers to|Guangdong Yudean Electric Power Sales Co., Ltd.|||
|Weixin Yuntou||Refers to|Weixin Yuntou Yudean Zhaxi Energy Co., Ltd.|||
||||Yunnan Baoshan Binlangjiang Hydroelectricity Development Co.,|||
|Binglang Jiang Company||Refers to||||
||||Ltd.|||
|Yongan Natural Gas Company||Refers to|Guangdong Yudean Yongan Natural Gas Thermal Power Co., Ltd.|||
|Tongdao Wind Power Company||Refers to|Tongdao Yuexin Wind Power Generation Co., Ltd.|||
|Insurance|Captive Company|Refers to|Guangdong Yudean Property Insurance|Captive|Co., Ltd.|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 II. Corporate Profile and Key Financial Results
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|粤电力|||
|any)||||
|English name (If any)|GUANGDONG ELECTRIC POWER DEVELOPMENT CO.,LTD|||
|English abbreviation (If any)|GED|||
|Legal Representative|Wang Jin|||

Ⅱ.Contact person and contact manner
||||
|-|-|-|
||Board secretary|Securities affairs Representative|
|Name|Liu Wei|Qin Xiao|
||35F, South Tower, Yudean Plaza, No.2|36/F, South Tower, Yudean Plaza, No.2|
|Contact address|Tianhe Road East, Guangzhou,Guangdong|Tianhe Road East, Guangzhou,Guangdong|
||Province|Province|
|Tel|(020)87570276|(020)87570251|
|Fax|(020)85138084|(020)85138084|
|E-mail|liuw@ged.com.cn|qinxiao@ged.com.cn|

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 2017.
2. Information inquiry
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable√ Not applicable
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 2017.
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）|13,894,985,179|12,385,486,577|12.19%|
|Net profit attributable to the shareholders|448,833,518|128,735,725||
||||248.65%|
|of the listed company（yuan）||||
|Net profit after deducting of non-recurring||||
||413,141,718|156,802,731|163.48%|
|gain/loss attributable to the shareholders of||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|listed company（yuan）||||
|Cash flow generated by business operation,|3,795,532,708|1,578,925,284||
||||140.39%|
|net（yuan）||||
|Basic earning per share(yuan/Share)|0.0855|0.0245|248.98%|
|Diluted gains per share(yuan/Share)|0.0855|0.0245|248.98%|
|Weighted average income/asset ratio（%）|1.88%|0.55%|1.33%|
||As at the end of the|||
|||As at the end of last year|YoY+/-（%）|
||reporting period|||
|Gross assets（yuan）|72,817,272,539|71,007,415,323|2.55%|
|Shareholders’ equity attributable to|23,677,112,778|23,695,190,653||
||||-0.08%|
|shareholders of the listed company（yuan）||||

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||Net Assets attributable to the shareholders of||
||listed company||the listed company||
||Amount in the|Amount in the previous|End of the reporting|Beginning of the|
||reporting period|period|period|reporting period|
|According to CAS|448,833,518|128,735,725|23,677,112,778|23,695,190,653|
|Items and amount adjusted according to IAS|||||
|The difference arising from|||||
|recognition of goodwill after|||||
||||64,623,000|64,623,000|
|merger of enterprises under|||||
|the same control|||||
|Difference arising from|||||
|recognition of land use value|-315,000|-315,000|17,915,000|18,230,000|
|after enterprise merger|||||
|Influence on minority interests|27,060|27,060|4,783,159|4,756,099|
|Accouding to IAS|448,545,578|128,447,785|23,764,433,937|23,782,799,752|

 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
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 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,there’s 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|388,507||
|for which assets impairment provision is made)|||
||12,471,031|The sales company received areward of RMB 9.99 millionfrom the Nansha governmentheadquarters.|
|Govemment subsidy recognized in current gain and|||
|loss(excluding those closely related to the Company’s business|||
|and granted under the state’s policies)|||
|Effect on current gains/losses when a one-off adjustment is make|-395,966||
|tocurent gains/losses according to requirements of taxation.|||
||51,190,544|Zhanjiang Wind Power Companyreceived insurance compensationfor typhoon Tyson for a total ofRMB 45.4585 million.|
|Other non-business income and expenditures other than the above|||
|Less: Amount of influence of income tax|16,012,521||
|Influenced amount of minor shareholders’ equity (after tax)|11,949,795||
|Total|35,691,800|--|

For theCompany’s 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
None of Non-recurring gain /loss items recorgnized as recurring gain /loss/items as defined by the information disclosure explanatory Announcement No.1- Non–recurring gain/loss in the report period.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 III. Business Profile
Ⅰ.Main Business the Company is Engaged in During the Report Period
Whether the company needs to comply with the disclosure requirements of the particular industry
No
We are mainly occupied in investment, construction and management of electric power projects. We have been upholding “electricity-oriented, pluralistic development”, with power as the mainstay and diversified structure of power source. With the exception of development, construction and operation of large-scale coal-burning power-generating plants, we also set our feet on clean energy projects like LNG power generation, wind power generation and hydroelectric generation, which are reliably transmitted to innumerable users through power-grid companies. As of June 30,2018, the controllable installed capacity is 20.66 million KW, where the controllable installed capacity of coal-burning power generation, LNG generation and renewable energy generation like wind power and hydropower is 17.35 million KW, 2.8 million KW and510，000 KW respectively.
Income source is primarily contributed by power production and sales, and main business income is derived from Guangdong Province. The company electricity sales price is subject to the benchmark price verified by the price authority per relevant policies based on National Development and Reform Commission (NDRC) and the electricity transaction price through the market trade implementation per Guangdong Electricity Market Trade Basic Rules and supporting files. In the reporting period, the electricity sold is 36.311 billion KWH, 4.065 billion KWH YoY increase; average price stated in the consolidated statements is 439.58 Yuan/ Thousand KWH (tax inclusive, the same below), YoY drop of 4.81 Yuan/ ThousandKWH；the total operating income was RMB 13,894.9852 million, an increase of RMB 1,509.4986 million or an increase of12.19% YOY.
The company's business is dominated by coal-fired power generation, and the fuel costs account for a large portion of operating costs, thus the fluctuations in coal prices have a significant impact on the company's operating performance. During the reporting period, affected by the increase in power generation and the continuous increase in coal prices, thecompany’s fuel costs were RMB 9254.2627 million, which accounted for76% of the main business costs, an increase of RMB 1290.539 million or an increase of16.21%, Unit fuel costs rose by3.4% year-on-year.
During the reporting period, the company's profitability improved significantly year-on-year due to the continued tightness of the power balance, the optimization of the depreciation period of fixed assets and the better profitability of theassociates，Realizing net profit attributable to shareholders of the parent company of RMB 448.8335 million , a year-on-year increase of248.65%; and the earnings per share was 0.0855 yuan.
Ⅱ.Major Changes in Main Assets
1.Major Changes in Main Assets
|||
|-|-|
|Main assets|Major changes|
|Equity assets|No major changes|
|Fixed assets|No major changes|
|Intangible assets|No major changes|
|Construction in process|No major changes|

2. Main Conditions of Overseas Assets
□ Applicable√ Not applicable
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018Ⅲ. Analysis On core Competitiveness
Whether the company needs to comply with the disclosure requirements of the particular industry
No
1. Regional power-generating company with installed capacity expanded in a stage-based and leap-frog way The power-generating assets are mainly distributed in Guangdong. Major assets reorganization realized since 2012 has given great impetus to power-generating installed capacity. As of the end of the reporting period, the controllable installed capacity that the company has put into operation is 20.66 million kilowatts, accounting for about17% of the united installed scale of capacity in Guangdong Province.
2. Yudean Group has oriented our company as a sole listed platform for domestic power-generating assets integration
We are the shareholder of Yudean Group, one of the biggest power-generating groups in south China, which takes advantage of its source, assets scale, to give sustaining support to ourcompany’s advancement and expansion. It has oriented us as a sole listed platform for domestic power-generating assets integration. We are endowed with a priority offered by it in power source development, asset acquisition.
3. State-of-the-art unit performance built on implementation of the energy-saving dispatching policy
By virtue of high parameters, large capacity, nice efficiency, low coal consumption, reliable operation and environmental protection, our thermal power generating unit units are given priority in energy-saving dispatching. As a result, our units are more competitive in on-grid price.
4. Stepwise optimization of industrial structure and power source structure
The 13th Five-Year Plan of the Company specified the overall strategy of taking power generation as the core business, optimizing the development of coal-fired power, steadily developing gas power, vigorously developing clean energy such as wind power and hydropower, continuously optimizing the power supply structure, and heading to an efficient, clean and low-carbon road. In the first half of 2018, there were newly-added 300,000 kilowatts of offshore wind power projects of the company obtained the approval, besides a number of gas and wind power projects have been under construction. and a number of gas and wind power projects are under construction and will be put into production successively from 2018 to 2020. According to the overall goal of the company's "13th Five-Year Plan", it will strive to increase the proportion of clean energy from the current about15% (including natural gas power generation) to about29% (including natural gas power generation) in the end of "13th Five-Year Plan".
5. Experienced management, sophisticated production technology
Administrators and technical experts are veterans in operation and management of power plants, and key staff have years of practical experience in the power sector. We have invested enormous efforts to the standard of management, intensifying management and paying high priority to launch energy-conserving and consumption-reducing programs. Finally, coal consumption on thermal power units is declining year by year in return for these efforts.
6. Hold fast to the opportunity of “electric price reform”, To realize the transformation from a power generation enterprise to an energy comprehensive service enterprise.
In July 2015, we established a wholly-funded electric marketing company, aiming at competing with electricity marketing, sharing dividend from “electric price reform”, The electricity sales company has already accumulated plenty of clients based on the power generation enterprises. The company will continue promoting the electricity sales business vigorously, adopt positive measures subject to relevant polices of the national power system reformation for expanding the power distribution and sales business and comprehensive energy services and cultivating the new profit increase points.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 IV.Management’s Discussion and Analysis
Ⅰ.General
During the reporting period, the electricity consumption of the whole society in Guangdong Province was 293.05 billion kwh, an increase of9.3% YOY, so the growth rate continued to rise. The West-to-east electricity transmission was 9.27 billionkwh,（The new units in the province are put into production totaling 1.219 millionKWH） the nuclear power and gas power will be increased by0.6% and4.8% respectively.the hydropower of the province fell by38.7%，the average utilization hours for the company holding coal-fired units are 2214 hours increased 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 of2.55% YOY; and the interests attributable to shareholders of the parent company was RMB 23.676 billion, an decrease of0.08% YOY. The company achieved the operating income by consolidated statements of RMB 13.895 billion, an increase of12.19% YOY; the net profit attributable to shareholders of the parent company was RMB 448 million, a YOY increase of248.65%; 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 was59.48%.
In 2018, the scale of power market transactions in Guangdong Province is expected to reach 160 billion kWh, accounting for40% of the province's power generation, up45% 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 for23% of the size of the similar market; the market bidding electricity is 4.95 billion kWh, accounting for22% of the size of the similar market; the electricity sold by the subsidiary companies accounts for13.72% 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 of4.25%.
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 300,000 kw offshore wind-power project was approved, and the#4 unit (460,000 kW) of Huizhou Natural Gas Cogeneration Expansion Project and the Zhanjiang Qujie Wind Power Project (49,500 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.Main business analysis
Refer to relevant contents of “1.Summarization” in “Discussion and Analysis of Management”.
Changes in the financial data
In RMB
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
||||YOY change||
||This report period|Same period last year||Cause change|
||||（%）||
|Operating income|13,894,985,179|12,385,486,577|12.19%||
|Operating cost|12,200,856,427|11,126,689,991|9.65%||
||10,316,130|2,788,458||In order to grasp the opportunity of|
|||||power market reform, the company|
|||||strengthened its investment in the|
|Sale expenses|||269.96%||
|||||power market marketing business, so|
|||||the sales expenses increased|
|||||significantly year-on-year..|
|Administrative expenses|271,706,884|285,963,326|-4.99%||
|Financial expenses|631,118,798|637,643,570|-1.02%||
||307,767,578|148,691,823||As the profitability of this year has|
|||||increased significantly compared with|
|Income tax expenses|||106.98%|the same period of the previous year,|
|||||the income tax expenses have|
|||||increased significantly.|
|||||Due to the reduction of some R&D|
|||||projects this year, R&D income has|
|R & D Investment|2,238,543|4,001,008|-44.05%||
|||||decreased compared with the same|
|||||period of the previous year..|
||3,795,532,708|1,578,925,284||Due to the increase in electricity|
|||||consumption and the transfer of power|
|Cash flow generated by||||generation rights from some of the|
||||140.39%||
|business operation, net||||loss-making power plants, the cash|
|||||flow from operating activities|
|||||increased..|
|Net cash flow generated|-1,699,538,040|-1,328,116,995|||
||||-27.97%||
|by investment|||||
||-1,163,991,471|-538,938,738||Due to the repayment of the company's|
|Net cash flow generated|||||
||||115.98%|debt principal and interest of RMB|
|by financing|||||
|||||1.217 billion this year.|
||932,003,290|-288,130,449||Mainly due to the increase in|
|||||electricity, the transfer of power|
|Net increasing of cash||||generation rights from some|
|and cash equivalents||||loss-making power plants, and the|
|||||repayment of principal and interest of|
|||||corporate bonds this year, etc.|

Major changes to the profit structure or sources of the Company in the reporting period
□ Applicable√Not applicable
Nil
Breakdown of main business
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||Increase/decrease ofreverse in the sameperiod of theprevious year(%)|Increase/decrease of|Increase/decrease|
||||||principal business|of gross profit rate|
||Operating||Gross profit||||
|||operating costs|||cost over the same|over the same|
||revenue||rate(%)||||
||||||period of previous|period of the|
||||||year (%)|previous year (%)|
|Industry|||||||
|Electric power ,|||||||
||13,769,537,895|12,199,733,160|11.40%|11.94%|9.75%|1.77%|
|Steam sales and|||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||
|-|-|-|-|-|-|-|
|labor income|||||||
|Products|||||||
|Electric power ,|||||||
|Steam sales and|13,769,537,895|12,199,733,160|11.40%|11.94%|9.75%|1.77%|
|labor income|||||||
|Area|||||||
|Guangdong|13,745,181,105|12,174,075,316|11.43%|11.84%|9.58%|1.83%|
|Yunnan|24,356,790|25,657,843|-5.34%|107.34%|277.35%|-47.46%|

 III.Non-core business analysis
□ Applicable√Not applicable
IV.Analysis of assets and liabilities
1.Significant changes in asset composition
In RMB
||||||||
|-|-|-|-|-|-|-|
||End of Reporting period||End of same period of last year||||
|||As a percentage||As a percentage|Change in|Reason for significant|
||Amount|of total|Amount|of total|percentage(%)|change|
|||assets(%)||assets(%)|||
|Monetary fund|5,928,583,780|8.14%|4,896,743,201|6.97%|1.17%||
|Accounts|2,904,469,301||||||
|||3.99%|2,827,797,598|4.03%|-0.04%||
|receivable|||||||
|Inventories|2,006,400,069|2.76%|1,662,109,165|2.37%|0.39%||
|Real estate|7,978,840||||||
|||0.01%|8,614,438|0.01%|0 %||
|Investment|||||||
|Long-term equity|5,926,328,997||||||
|||8.14%|5,686,638,558|8.10%|0.04%||
|investment|||||||
|Fixed assets|40,052,143,800|55 %|40,224,030,838|57.27%|-2.27%||
|Construction in|9,122,852,147||||||
|||12.53%|7,137,424,507|10.16%|2.37%||
|process|||||||
|Short-term loans|10,035,000,000|13.78%|9,565,000,000|13.62%|0.16%||
|Long-term loans|18,349,294,665|25.20%|19,321,368,430|27.51%|-2.31%||

2.Asset and Liabilities Measured by Fair Value
√ Applicable□Not applicable
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|||Gain/loss on||||||
||||Cumulative fair|Impairment|Purchased|||
|||fair value||||Sold amount in||
||Amount at year||value change|provisions in|amount in the||Amount at year|
|Item||change in the||||the reporting||
||beginning||recorded into|the reporting|reporting||end|
|||reporting||||period||
||||equity|period|period|||
|||period||||||
|Financial assets||||||||
|3.Financial|408,992,985|-62,469,090|91,195,281||||346,523,895|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
|assets available|||||
|for sale|||||
|Subtotal of|||||
||408,992,985|-62,469,090|91,195,281|346,523,895|
|financialassets|||||
|Total|408,992,985|-62,469,090|91,195,281|346,523,895|
|Financial|||||
||0|||0|
|Liability|||||

Did great change take place in measurement of the principal assets in the reporting period ?
□ Yes√ No
3. Restricted asset rights as of the end of this Reporting Period
(1) Asset mortgage status
As at June 30, 2018, the Company has the accounts receivable with a carrying amount of RMB 247,930,154 (December 31, 2017: RMB 402,847,793), which, together with online sales charging right of several power generation subsidiaries, was pledged to the bank to obtain long-term borrowings of RMB 3,108,669,173, including: the long-term borrowings due within one year amounted to RMB304,249,030. The borrowings are detailed as follows:
As at June 30, 2018, the long-term pledge borrowings of the following subsidiaries were based on their power fee charging rights and accounts receivable as pledges:
||||||
|-|-|-|-|-|
|||June 30,2018||December 31,2017|
|Yuejiang Power Generation|2,147,336,405||2,276,504,889||
|Leizhou Wind Power|48,227,190||188,420,594||
|Zhanjiang Wind Power|147,705,190||156,465,000||
|Xuwen Wind Power|74,400,578||77,588,224||
|Lincang Company|691,000,000||||
||3,108,669,173||2,698,978,707||

As at June 30, 2018, the long-term pledge borrowings of the following subsidiaries due within one year were based on their power fee charging rights and accounts receivable as pledges:
||||||
|-|-|-|-|-|
|||June 30,2018||December 31,2017|
|Yuejiang Power Generation|269,566,748||180,897,292||
|Leizhou Wind Power|1,099,615||1,099,615||
|Zhanjiang Wind Power|17,520,000||17,520,000||
|Xuwen Wind Power|10,062,668||10,062,668||
|Lincang Company|6,000,000||||
||304,249,030||209,579,575||

(2) Asset mortgage status
As at June 30, 2018, the company has the power generation equipment with a carrying amount of RMB 667,391,617 (original value of RMB 2,562,570,238) (December 31, 2017: carrying amount RMB757,878,678 and original value RMB 2,562,570,238), which was mortgaged for a long-term borrowing of RMB 85,000,000 (December 31, 2017: RMB 85,000,000). The borrowing is detailed as follows:
The long-term borrowing of Shenzhen Guangqian Power Co., Ltd. (“Guangqian Power”) is RMB 85,000,000 (December 31, 2017: RMB 85,000,000 ) with an interest rate of4.41% to4.86% (December 31, 2017:4.41% to4.86%).
V.Investment situation
1. General
√ Applicable□ Not applicable
||||
|-|-|-|
|Investment of the period|Investment of same period of last year|Scale of change|
|546,000,000|262,000,000|108.40%|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 2.Condition of Acquiring Significant Share Right Investment during the Report Period
√Applicable□ Not applicable
In RMB
||||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||InvestmentHorizon||||Gain or|Whether|||
|||||Share|||||Progress up to|Anticipa|||Date of||
|Name of the|Main|Investme|Investment||Capital|||Product|||Less or the|to Involve|||
|||||Proport||Partner|||Balance Sheet|ted|||Disclosure|Disclosure Index|
|Company Invested|Business|nt Way|Amount||Source|||Type|||Current|in|||
|||||ion %|||||Date|Income|||(Note 5)||
||||||||||||Investment|Lawsuit|||
|||Newlyestablished|||||||The construction||||||
||||||||||of the Wailuo||||||
|Guangdong||||||||||||||Announcement|
||Wind||||||||offshore wind||||||
|Yudean Qujie||||||||||||||No.:2018-16)Published in|
||Power||||||Long-ter|Electric|power project||||March||
|Wind Power|||448,000,000|100 %|Ownfunds|No||||--|5,448,294|No||China Securities Daily,|
||generatio||||||m|power|(Phase I) started||||24,2018||
|Generation Co.,||||||||||||||Securities Times and|
||n||||||||construction in||||||
|Ltd.||||||||||||||http//.www.cninfo.com.cn|
||||||||||early July this||||||
||||||||||year.||||||
|||Newlyestablished||||Guangdong|||||||||
||||||||||The company's|||||Announcement|
|Guangdong||||||Yudean|||||||||
||||||||||various business|||||No.:2018-28)Published in|
|Yudean Property|Property|||||Group|Long-ter|Insuran|||||April||
||||98,000,000|49 %|Ownfunds||||activities are|--|1,586,857|No||China Securities Daily,|
|Insurance Co.,|Insurance|||||（shareholdi|m|ce|||||28,2018||
||||||||||carried out|||||Securities Times and|
|Ltd.||||||ng ratio：|||||||||
||||||||||normally|||||http//.www.cninfo.com.cn|
|||||||51%）|||||||||
|Total|--|--|546,000,000|--|--|--|--|--|--|0|7,035,151|--|--|--|

 3.Situation of the Significant Non-equity Investment Undergoing in the Report Period
□ Applicable√ Not applicable
4.Investment of Financial Asset
（1）Securities investment
√ Applicable□Not applicable
In RMB
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||Securitycode||||Book value||Cumulative fairvalue changes inequity|||||Accounting items||
||||||||||||Book value|||
||||||balance at|Changes in||Purchase|Sale|||||
|||Stock|Initial|Mode of||||||Gain/loss of|balance at the|||
|Security|||||the|fair value of||amount in|amount in||||Source of|
|||Abbreviati|investment|accounting||||||the reporting|end of the|||
|category|||||beginning of|the this||the this|the this||||the shares|
|||on:|cost|measurement||||||period|reporting|||
||||||the reporting|period||period|period|||||
||||||||||||period|||
||||||period|||||||||
|Domestic||||||||||||Financialassets||
||000027|Shenzhen|15,890,628|Fair value|76,356,000|-14,112,000|46,353,372|0|0|1,008,000|62,244,000||Own-Fund|
|and foreign||||||||||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|stocks||Energy||measurement||||||||available|s|
|||||||||||||for sales||
|||||||||||||Financial||
|Domestic||||||||||||||
|||||Fair value||||||||assets|Own-Fund|
|and foreign|600642|Shenergy|235,837,988||325,418,985|-46,647,090|42,933,907|0|0||278,771,895|||
|||||measurement||||||||available|s|
|stocks||||||||||||||
|||||||||||||for sales||
|||||||||||||Financial||
|Domestic||||||||||||||
|||||Fair value||||||||assets|Own-Fund|
|and foreign|831039|NEEQ|3,600,000||7,218,000|-1,710,000|1,908,000|0|0|270,000|5,508,000|||
|||||measurement||||||||available|s|
|stocks||||||||||||||
|||||||||||||for sales||
|Total|||255,328,616|--|408,992,985|-62,469,090|91,195,279|0|0|1,278,000|346,523,895|--|--|
|Disclosure date for the notice of||||||||||||||
|approval by the Board (If any)||||||||||||||
|Disclosure date for the notice of||||||||||||||
|approval by shareholders’ Meeting (If||||||||||||||
|any)||||||||||||||

（2）Investment in Derivatives
□ Applicable√ Not applicable
Nil
VI. Sales of major assets and equity
1. Sales of major assets
□ Applicable√ Not applicable
The Company had no sales of major assets in the reporting period.
2.Sales of major equity
□ Applicable√ Not applicable
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018Ⅶ.Analysis of the Main Share Holding Companies and Share Participating Companies
√ Applicable□ Not applicable
Situation of Main Subsidiaries and the Joint-stock Company with over10% net profit influencing to the Company In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
|Company||Main|Registered||||||
||Type|||Total assets|Net assets|Turnover|Operating profit|Net Profit|
|name||business|capital||||||
|Guangdong||Power|||||||
|Huizhou||generation|||||||
|Pinghai Power|Subsidiary|and power|1,370,000,000|6,111,071,236|2,148,628,831|1,859,200,437|384,290,932|283,060,847|
|Generation||station|||||||
|Plant Co., Ltd.||construction.|||||||
|Shanxi|||||||||
|Yudean|Sharing|Coal|||||||
||||1,000,000,000|3,563,660,273|3,318,386,995|786,668|277,283,881|277,283,881|
|Energy Co.,|company|Investment|||||||
|Ltd.|||||||||
|Guangdong|||||||||
|Yudean|Sharing|financial|||||||
||||2,000,000,000|20,873,857,339|2,747,578,134|353,187,954|280,706,643|226,957,586|
|Finance Co.,|Company|service|||||||
|Ltd.|||||||||
|Guangdong|||||||||
|||Power|||||||
|Huizhou|||||||||
|||generation|||||||
|Natural gas|||||||||
||Subsidiary|and power|1,301,296,300|3,829,081,435|1,721,580,900|819,208,378|210,381,321|157,838,111|
|Power|||||||||
|||station|||||||
|Generation|||||||||
|||construction.|||||||
|Co., Ltd.|||||||||
|Guangdong||Power|||||||
|Red Bay||generation|||||||
|Power|Subsidiary|and power|2,749,750,000|7,013,700,026|3,245,943,612|2,130,697,649|179,266,096|133,881,934|
|Generation||station|||||||
|Co., Ltd.||construction.|||||||
|||Power|||||||
|Shenzhen|||||||||
|||generation|||||||
|Guangqian|||||||||
||Subsidiary|and power|1,030,292,500|2,225,434,956|1,411,615,869|704,566,725|140,746,307|105,669,017|
|Electric Power|||||||||
|||station|||||||
|Co., Ltd.|||||||||
|||construction.|||||||
|||Power|||||||
|Zhanjiang||generation|||||||
|Electric Power|Subsidiary|and power|2,875,440,000|4,484,294,981|4,037,858,393|1,078,438,774|128,458,223|96,981,054|
|Co., Ltd.||station|||||||
|||construction.|||||||
|Guangdong||Power|||||||
|Yudean||generation|||||||
|Jinghai Power|Subsidiary|and power|2,919,272,000|9,595,441,359|3,480,674,608|2,554,248,635|119,987,177|89,849,281|
|Generation||station|||||||
|Co., Ltd.||construction.|||||||
|Guangdong|||||||||
|||Power|||||||
|Guohua|||||||||
||Sharing|generation|||||||
|Taishan Power|||4,669,500,000|12,045,163,615|7,938,249,598|4,256,108,141|668,133,944|498,549,464|
||Company|and power|||||||
|Generation|||||||||
|||station|||||||
|Co., Ltd.|||||||||
|Zhanjiang||Power|||||||
||Subsidiary||1,454,300,000|5,080,559,073|980,510,057|744,203,000|-82,000,764|-56,930,670|
|Zhongyue||generation|||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||||
|-|-|-|-|-|-|-|-|-|
|Energy Co.,||and power|||||||
|Ltd.||station|||||||
|Guangdong|||||||||
|||Power|||||||
|Yudean Dapu|||||||||
|||generation|||||||
|Power|Subsidiary||1,000,000,000|4,812,962,877|889,268,786|596,623,588|-87,071,925|-67,568,303|
|||and power|||||||
|Generation|||||||||
|||station|||||||
|Co., Ltd.|||||||||
|Guangdong|||||||||
|||Power|||||||
|Shaoguan|||||||||
|||generation|||||||
|Yuejiang|||||||||
||Subsidiary|and power|1,400,000,000|7,453,255,220|644,015,820|1,215,847,172|-134,742,255|-136,937,868|
|Power|||||||||
|||station|||||||
|Generation|||||||||
|||construction.|||||||
|Co., Ltd.|||||||||

Acquirement and disposal of subsidiaries in the Reporting period
√ Applicable□ Not applicable
||||
|-|-|-|
||Way of acquiring and disposing of||
|||Impact on the whole producing operation|
|Company name|subsidiary corporations within the||
|||and performance|
||reporting period||
|Guangdong Yudean Zhencheng Energy||No actual operation has been carried out|
||Invested||
|Co., Ltd.||yet in reporting period.|

Notes
1. During the reporting period, due to the recovery of demand for electricity from the society, the company's on-grid electricity increased, and the joint ventures and associates also had better profitability. At the same time, due to the adjustment of the depreciation period of some fixed assets from June of last year, the company's operating results in the first half of 2018 improved year-on-year; however, due to the continued high coal prices, the company's subordinate coal-fired power plants are generally at a low profit level, and some of them, such as Yuejiang Company, Zhanjiang Zhongyue and Dapu Company, have had operating losses.
2. The profitability of the Company's clean energy business continued to increase, In the first half of 2018, the net profit attributable to shareholders of the parent company was RMB 196.25 million, an increase of RMB 108.79 million over the same period of last year, accounting for43.72%.
3. Affected by the increase in the price of fuel, Shanxi Energy, a share-participating company, gained a large year-on-year increase in profitability. Thecompany’s investment income from associates rose as a whole during the reporting period.
VIII．Structured vehicle controlled by the Company
□ Applicable√ Not applicable
IX. Prediction of business performance for January -September 2018
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the warning of its material change compared with the corresponding period of the last year and explanation of reason.
□ Applicable√ Not applicable
X.Risks facing the Company and countermeasures
I.Risks
(I) The uncertainty of market electricity prices is still relatively large
In 2018, the scale of electricity trading in Guangdong market will reach 160 billion kWh, accounting for40% of
the province's power generation, up45% year-on-year, of which the scale of bilateral negotiation transactions is
100 billion kWh, and the annual contracted transaction scale is 10 billion kWh, and the monthly centralized
bidding scale is 50 billion kWh. In the first half of the year, the scale of the centralized bidding market was about
22.8 billion kWh, of which the company competed for 4.95 billion kWh. The average price difference of monthly
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 concentrated competition transactions was between -46.5 and -36.5Li/kWh. The average on-grid price of the consolidated statements was 439.58 yuan/thousand kWh, with a decrease of 4.81 yuan / thousand kWh year-on-year. In the second half of the year, due to fierce competition among power generation companies, gradual increase in customer market awareness, unit maintenance and other factors, the uncertainty of the price difference of market transactions will be still large, and the intensity of fierce competition on the power generation side will have a greater impact on the company's operating performance. .
(II) West-east power transmission and expansion of provincial installations accelerate electricity competition In June 2018, Western Electric added a DC line (designed capacity of 5 million kilowatts) transmitted from Northwest Yunnan to Shenzhen, which was put into operation step by step. The transmission capacity increased greatly, and the highest load reached 36.84 million kilowatts, hit a new record high, up18.6% year-on-year. At the same time, due to objective factors such as the peak in the first half of the year, only 2 new units for Central China electric dispatching network were put into production, and most of the newly put-into-production units will be concentrated in the second half of the year, including2×1 million kilowatts units in Jiahu Bay, 1.75 million kilowatts unit in Taishan Nuclear Power and the units which have strong competitiveness, with energy - saving scheduling ranking near the top, and this will greatly squeeze the conventional coal machine power generation space.
(III) The demand for coal in the summer peaks rises again, and the price of coal has room to rebound.
Affected by the coal de-capacity policy, the domestic coal supply and demand situation will continue to be tense in the second half of the year. In particular, with the gradual recovery of coal demand in the summer peaks and the impact of extreme weather, short-term demand is strong, and coal price may rebound.
(IV) Debt costs are facing the rising pressure
Under the influence of many factors such as economic “de-leverage”, financial supervision and the US dollar interest rate hike, the market funds are generally in a tight balance. At the same time, affected by the “de-capacity” policy, banks and other financial institutions have continued to shrink the amount of credit supply for overcapacity industries such as coal and electricity, thecompany’s financing cost and financing difficulty are rising. In the first half of 2018, the company's comprehensive financing cost was4.40%, which was 14 basis points higher than the same period of last year. The incremental financing cost of the subordinate coal-fired power plants generally increased by10%-20% in benchmark rates. In May of this year, the super& short-term financing rate of RMB 500 million was4.25%, which was increased by 135 and 169 basis points respectively comparing with the two super& short-term interest rates issued by the Company in 2016.
(V) There is still great uncertainty in the final impact of the retiring of Shajiao A Power Plant on the company. In February 2018, the company received a “Letter on Printing and Distributing the Work Plan for Decommissioning and Alternative Power Construction of Shajiao Power Plant” from Guangdong Development and Reform Commission. According to the work plan, the company's subordinate Shajiao A Power Plant's five units totaling 1.29 million kilowatts will be gradually phased out between 2019 and 2023, and the construction of alternative power sources will be implemented simultaneously. At present, relevant matters concerning decommissioning implementation plan, alternative power supply construction plan, supporting power grid transformation plan, staff placement and land development are still in the process of research and development, and there is still great uncertainty on the final impact of the company.
II. Solutions
1. We will grasp the favorable opportunity in basic electricity quantity adjustment of the third quarter of Guangdong province, and strive for improving the targeted annual electricity quantity. We will scientifically participate in bidding and the generation right transfer transaction, actively endeavour to possess the share of electricity and improve the marginal contribution level. We will blend the imported high-sulphur coals in a reasonable way and lower the cost of fuel purchase. We will increase the stocktaking for coal yards and reduce the loss of incoming coals. We will strengthen the study and judgement of the electricity market and prepare for the spot market transactions ahead of schedule.
2.We will continue to insist on business analysis and technical and economic indicator analysis. We will persist in the early-warning mechanism for the completion situation of important indicators. We will improve the operational benefits through improving weak links. We will make a good preparation in the financing channels and a good management in the stock capital for the parent company. We will choose the right time and way to conduct incremental financing, adjust the structure of stock debt and reduce the debt risk. We will strengthen the fund supervision for the factories with low operation revenue, and help them solve the financial issues. We will prevent partial capital risks and ensure the safety of capital.
3.We will continue to pay attention to energy industry and related policies about upstream and downstream industries as well as the market dynamics. We will actively seek investment opportunities for high-quality projects.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 We will emphasize promoting# 5 Unit and#Unit 6 of cogeneration extension project of natural gas in Huizhou city, and the wind power project of Shibanling in Zhanjiang city, with total installed capacity of 969,500 kilowatts, will be put into production. We will strive for the most beneficial construction plan of the power supply to substitute the retired units of Shajiao A Power Plant.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 V. Important Events
I. Annual General Meeting and ExtraordinaryShareholders’ Meetings in the Reporting Period
1.Annual General Meeting
|||||||
|-|-|-|-|-|-|
|||Investor||||
||||Convened|Disclosure||
|Meeting|Type|participation|||Index to disclosed information|
||||date|date||
|||ratio||||
|First Provisional|Provisional||||Announcement No.:2018-09.|
||||January|January||
|Shareholders’ general|Shareholders’|72.87%|||Published in China Securities Daily, Securiti|
||||29,2018|30,2018||
|meeting of 2018|general meeting||||es Times and http//.www.cninfo.com.cn.|
|Second Provisional|Provisional||||Announcement No.:2018-21.|
|||||April||
|Shareholders’ general|Shareholders’|72.78%|April 9,2018||Published in China Securities Daily, Securiti|
|||||10,2018||
|meeting of 2018|general meeting||||es Times and http//.www.cninfo.com.cn.|
||Annual||||Announcement No.:2018-33.|
|2017 Shareholders’ general||||June||
||Shareholders’|72.80%|June 11,2018||Published in China Securities Daily, Securiti|
|meeting||||12,2018||
||General Meeting||||es Times and http//.www.cninfo.com.cn.|
|Third Provisional|Provisional||||Announcement No.:2018-38.|
|||||June||
|Shareholders’ general|Shareholders’|72.65%|June 28,2018||Published in China Securities Daily, Securiti|
|||||29,2018||
|meeting of 2018|general meeting||||es Times and http//.www.cninfo.com.cn.|

 2. Preferred stockholders restored voting rights to request to convene ProvisionalShareholders’ Meeting.
□Applicable√Not applicable
II. Proposal for profit distribution and converting capital Reserve into share actual for the reporting period
□ Applicable√Not applicable
For the reporting period, the Company plans not to distribute cash dividends or bonus shares or convert capital reserve into share capital.
III. The fulfilled commitments in the reporting period and under-fulfillment commitments by the end of the reporting period made by the company, shareholder, actual controller, acquirer, director, supervisor, senior management personnel and other related parities.
□ Applicable√Not applicable
There are no commitments that the company, shareholders, actual controller, offeror, directors, supervisors, senior management or other related parties have fulfilled during the reporting period and have not yet fulfilled by the end of reporting period.
IV. Particulars about engagement and disengagement of CPAs firm
Whether the semi-annual financial report had been audited?
□ Yes√ Not
The semi-annual report was not audited.
V.Explanations given by board of directors and supervisory board regarding “ Modifiedauditor’s” Issued
by CPAs firm for the reporting period
□ Applicable√ Not applicable
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 VI. Explanations given by Board of Directors regarding “ Modifiedauditor’s Report” Issued for last year□ Applicable√ Not applicable
VII. Bankruptcy and restructuring
□ Applicable√ Not applicable
No such cases in the reporting period.
VIII. Legal matters
Signifieant lawsuits or arbitrations
□ Applicable√ Not applicable
No such cases in the reporting period.
Other legal matters
√ Applicable□Not applicable
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||||||Litigation|||
||||Amount|Forming||Litigation||Date|Inde|
||||||Litigation||(arbitration)|||
||||involved|of the||(arbitration)||of|x of|
|Basic conditions of litigation (arbitration)|||||(arbitration)||judgement|||
||||（Ten|predicted||judgement result||disclo|discl|
||||||progress||execution|||
||||thousand ）|debt||and influence||sure|osure|
||||||||condition|||
|The company's holding subsidiary, Guangdong Yudean|||||On December|||||
|Pinghai Power Plant Co., Ltd, received the “Administrative|||||28, 2017, the|||||
|Punishment Decision” issued by the Guangdong Provincial|||||Guangzhou|||||
|Ocean & Fisheries Bureau on November 14, 2016 (No.|||||Maritime|As of the end of||||
|019-2016 Yuehai Executive Punishment), and the|||||Court issued|||||
|||||||the reporting||||
|punishment decision “ordered Pinghai to return the|||||an|||||
|||||||period, the||||
|illegally occupied sea areas and restore the sea areas to|||||administrative|||||
|||||||Guangdong||||
|their original state, and sentenced 10 times fines to the use|||||decision,|||||
|||||||Higher People's||||
|fees of sea areas that shall be imposed within the period of|||||stated “In|||||
|||||||Court has not yet||||
|that illegally occupied 16.3947 hectares, amounted to|||||accordance|||||
|||||||heard the case.||||
|RMB 172,144,350.00” for that Pinghai Power Plant carried|||||with the|||||
|||||||According to the||||
|out the site leveling and bank protection work of Pinghai|||||provisions of|||||
|||||||“Asset Purchase||||
|power plant without approval and did the reclamation of|||||Article 69 of|||||
|||||||Agreement by||||
|16.3947 hectares and its behavior violated the provisions|||||the|||||
|||||||Share Issuance”||||
|of Article 3 of the Law of the People's Republic of China|||||Administrativ|||||
|||||||signed between||||
|on the Administration of the Use of Sea areas. Based on|||||e Procedure|||||
|||||||Yudean Group||||
|the audited net profit of RMB 3.238 billion attributable to|||17,214.44|No|Law of the|and the||||
|the shareholders of the parent company in 2015, the|||||People's|||||
|||||||Company in||||
|amount involved in the above-mentioned administrative|||||Republic of|||||
|||||||2012, Yudean||||
|penalty affects the net profit attributable to shareholders of|||||China, the|||||
|||||||Group shall||||
|the parent company of about 77.4 million-which accounts|||||decision is as|||||
|||||||compensate the||||
|for 2.39% of the net profit of the most recently audited|||||follows: the|||||
|||||||Company for the||||
|period.||In accordance with the "Accounting Standards for|||claim of the|actual loss||||
|Business Enterprises", the company has included the|||||plaintiff|caused by the||||
|above-mentioned fines in the current profit and loss in|||||Guangdong|above-said||||
|2016.|Pinghai Power Plant disagreed with the punishment||||Huizhou|matter in||||
|measures of the “Administrative Punishment Decision"|||||Pinghai Power|||||
|||||||accordance with||||
|and applied for administrative reconsideration to the|||||Plant Co., Ltd|||||
|||||||the result of the||||
|People's Government of Guangdong Province on January|||||was rejected”.|||||
|||||||matter.||||
|16, 2017 in accordance with Article 6 of the|||||Pinghai Power|||||
|"Administrative Reconsideration Law of the People's|||||Plant|||||
|Republic of China". On June 16, 2017, the People's|||||disagreed with|||||
|Government of Guangdong Province issued a decision on|||||the verdict,|||||
|the administrative reconsideration, which stated|||||and lodged an|||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||
|-|-|
|“According to the provisions of Item 1 of Paragraph 1 of|appeal to the|
|Article 28 of the Administrative Reconsideration Law of|Guangdong|
|the People's Republic of China, the Administrative|Provincial|
|Punishment Decision (No. 019-2016 Yuehai Executive|Higher|
|Punishment) made by the respondent’s Provincial|People's Court|
|Department of Ocean and Fisheries is maintained.” Pinghai|against the|
|Power Plant disagreed with the aforementioned|verdict.|
|administrative reconsideration decision and filed an||
|administrative litigation to the Guangzhou Maritime Court||
|on July 18, 2017.||

IX. Punishments and rectifications
□ Applicable√ Not applicable
No such cases in the reporting period.
X. Credit conditions of the Company as well as its Controlling shareholder and actual Controller
□ Applicable√ Not applicable
XI.Equity incentive plans, employee stock ownership plans or other incentive measures for employees□ Applicable√ Not applicable
No such cases in the reporting period.
XII.Material related transactions
1. Related transactions in connection with daily operation
□ Applicable√ Not applicable
No such cases in the reporting period.
2. Related-party transactions arising from asset acquisition or sold
□Applicable√ Not applicable
No such cases in the reporting period.
3. Related-party transitions with joint investments
□Applicable√ Not applicable
No such cases in the reporting period.
4. Related-party transitions with joint investments
□Applicable√ Not applicable
No such cases in the reporting period.
5. Credits and liabilities with related parties
√ Applicable□Not applicable
（1）2018 daily related transactions were carried out after examination and approval by 2018 Second provisional
shareholders' general meeting. Refer to (5) Related transactions of XII. Relationship between related parties and
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 the transactions between them of the Financial Report of this report for details.
(2) The Proposal on the Financial Services such as Making the Application of the Total Loan Limit of RMB 17 Billion and Handling the Deposit Settlement to the Related Party- Guangdong Yudean Finance Co., Ltd by the Company and Some of its Subsidiaries was approved in thecompany’s 2017 annual general shareholder meeting for implementation.
（3）According to the statement of the controlling shareholder, Yudean Group Co., Ltd on promising to fulfill the relevant matters, in order to avoid horizontal competition and fulfill the promise of horizontal competition, the Company signed Stock Trusteeship Agreement with Yudean Group, wherein the shareholder's rights within the trusteeship range, except the ownership, right of earning and right of disposition, will be trusted to the Company, where the Company will be charged by 2,450,000 yuan per year, and which has been examined and approved by the 2nd meeting of the 9th board of directors of the Company.
（4）In order to effectively protect the property value of power generation equipment, reduce the risk cost, enhance the level of risk management and controlling and ensure the smooth progress of production and operation activities, the company signed "Insurance Cooperation Framework Agreement" with Yudean Property Insurance Self-Insurance Co., Ltd., the related party, wherein the self-insurance company provides the Company and the controlling subsidiary with insurance service and risk management service. The total scale of fees shall not exceed RMB 400 million yuan within the term of the agreement, and which has been examined and approved by the 2nd meeting of the 9th board of directors of the Company.
（5）In order to further enhance the ability of the self-insurance company in undertaking insurance business and strengthen the enterprise's ability to resist risks. The Company, with Yudean Group, the related party, jointly added capital to the self-insurance company, wherein the Company will add capital of 98 million yuan according to the49% equity ratio, and which has been examined and approved by the shareholders' meeting in 2017.
Website for temporary disclosure of the connected transaction
||||||
|-|-|-|-|-|
|Announcement|||Date of disclosure|Website for disclosure|
|Announcement on Related Transactions with Guangdong YudeanProperty Insurance Captive Co., Ltd . Signing of the InsuranceCooperation Framework Agreement|||||
||||January 13,2018|http//www.cninfo.com.cn.|
|Announcement on Related Transaction with Guangdong YudeanGroup Co., Ltd. Signing of the Energy Entrusting trusteeshipAgreement|||||
||||January 13,2018|http//www.cninfo.com.cn.|
|Estimates announcement of the Daily Related Party Transactions of2018|||||
||||March 24,2018|http//www.cninfo.com.cn.|
|Announcement on the related party Transactions of GuangdongElectric Power Development Co., Ltd. with Guangdong YudeanFinance Co., Ltd.|||||
||||April 28,2018|http//www.cninfo.com.cn.|
|Announcement on Related Party Transactions to Add Capital toGuangdong Yudean Property Insurance Captive Co., Ltd.|||||
||||April 28,2018|http//www.cninfo.com.cn.|
|Guangdong Yudean Property Insurance|Captive|Co., Ltd.|||

XIII. Particulars about the non-operating occupation of funds by the Controlling shareholder and other related parties of the Company
□Applicable√ Not applicable
The company was not involved in the non-operating occupation of funds by the controlling shareholder and other related parties during the reporting period.
XIV. Significant contracts and execution
1.Entrustments, contracting and leasing
(1) Trusteeship
√ Applicable□Not applicable
Statement of Trusteeship Situation :
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 According to the statement of Yudean Group on fulfilling relevant matters, and to avoid the horizontal competition and fulfill the relevant commitment of the horizontal competition, the Company signed Stock Trusteeship Agreement with Yudean Group, wherein the shareholder's rights within the trusteeship range, except the ownership, right of earning and right of disposition, will be trusted to the Company, which is predicted to charge 245,000 yuan as trustee fee per year. See details at the " Related Transaction Announcement on Stock Trusteeship Agreement signed with Yudean Group Co., Ltd." published by the Company in China Securities Daily, Securities Times and http://www.cninfo.com.cn on January 13, 2018(Announcement No.2018-04).
Gains/losses to the Company from projects that reached over10% in total profit of the Company in reporting period
□Applicable√ Not applicable
No gains or losses to the Company from projects that reached over10% in total profit of the Company in
reporting period
(2) Contract
□ Applicable√ Not applicable
No any contract for the Company in the reporting period.
(3) Lease
□Applicable√ Not applicable
No any lease for the Company in the reporting period..
2.Guarantees
√Applicable□ Not applicable
（1）Guarantees
Ten thousand
||||||||||
|-|-|-|-|-|-|-|-|-|
|External Guarantee (Exclude controlled subsidiaries)|||||||||
||Relevant|||||||Guarantee|
||||Date of||||Complete||
|||||Actual|||||
||disclosure|||||||for|
|||Amount of|happening (Date||Guarantee|Guarantee|implement||
|Name of the Company|date/No. of the|||mount of||||associated|
|||Guarantee|of signing||type|term|ation or||
||guaranteed|||guarantee||||parties (Yes|
||||agreement)||||not||
||amount|||||||or no)|
|Yunnan Baoshan|||||||||
||||||Guaranteei||||
|Binlangjiang|||December||||||
||May 24,2007|4,350||2,320|ng of joint|15 Years|No|No|
|Hydroelectricity|||19,2007||||||
||||||liabilities.||||
|Development Co., Ltd.|||||||||
|Yunnan Baoshan|||||||||
||||||Guaranteei||||
|Binlangjiang|December||November||||||
|||4,350||696|ng of joint|15 years|No|No|
|Hydroelectricity|19,2007||30,2007||||||
||||||liabilities.||||
|Development Co., Ltd.|||||||||
|Yunnan Baoshan|||||||||
||||||Guaranteei||||
|Binlangjiang|November||November||||||
|||7,250||58|ng of joint|15 years|No|No|
|Hydroelectricity|12,2008||14,2008||||||
||||||liabilities.||||
|Development Co., Ltd.|||||||||
|Yunnan Baoshan|||||Guaranteei||||
|Binlangjiang|May 27,2009|9,367|June 22,2009|5,887|ng of joint|15 years|No|No|
|Hydroelectricity|||||liabilities.||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Development Co., Ltd.|||||||||||||||||
|Yunnan Baoshan|||||||||||||||||
||||||||||||Guaranteei||||||
|Binlangjiang|||||||||||||||||
|||May 27,2009||7,250||May 27,2009|||2,175||ng of joint|||15 years|No|No|
|Hydroelectricity|||||||||||||||||
||||||||||||liabilities.||||||
|Development Co., Ltd.|||||||||||||||||
||||||||||Total actually amount||||||||
|Total amount of approved external guarantee|||||||||of external guarantee||||||||
|||||||||||||||-1,131|||
|in the report period(A1)|||||||||in the report||||||||
||||||||||period(A2)||||||||
||||||||||Total actually amount||||||||
|Total amount of approved external guarantee|||||||||of external guarantee||||||||
|||||190,835||||||||||11,136|||
|at the end of the report period(A3)|||||||||at the end of the report||||||||
||||||||||period(A4)||||||||
|Guarantee of the company for its subsidiaries|||||||||||||||||
||Related||||||||||||||Complete|Guarantee|
||||||Date of|||Actually|||||||||
|Name of the|announcem||Amount of|||||||||Guarantee||Guarante|impleme|for related|
||||||happening(date of|||guarantee|||||||||
|company guaranteed|ent date||guarantee|||||||||type||e term|ntation or|party(yes or|
||||||signing agreement)|||amount|||||||||
||and no.||||||||||||||not|no)|
|||||||||||||Guarantee|||||
|Zhanjiang Wind|||||||||||||||||
||April|||||||||||ing of|||||
|Power Generation|||18,571.7||October 9,2010|||7,440||||||18 years|No|No|
||29,2009|||||||||||joint|||||
|Co., Ltd.|||||||||||||||||
|||||||||||||liabilities.|||||
|Guangdong||||||||||||Guarantee|||||
|Shaoguan Yuejiang|November|||||||||||ing of|||||
||||9,000||January 28,2014|||3,510||||||7 years|No|No|
|Power Generation|16,2013|||||||||||joint|||||
|Co., Ltd.||||||||||||liabilities.|||||
|Guangdong||||||||||||Guarantee|||||
|Shaoguan Yuejiang|November|||||||||||ing of|||||
||||8,100||January 29,2014|||2,610||||||7 years|No|No|
|Power Generation|16,2013|||||||||||joint|||||
|Co., Ltd||||||||||||liabilities.|||||
|Total of guarantee for||||||||Total of actual guarantee|||||||||
|subsidiaries approved in the||||||||for subsidiaries in the||||||-1,799|||
|period(B1)||||||||period (B2)|||||||||
|Total of guarantee for||||||||Total of actual guarantee|||||||||
|subsidiaries approved at|||141,536|||||for subsidiaries at||||||14,240|||
|period-end(B3)||||||||period-end(B4)|||||||||
|Guarantee of the subsidiaries for the controlling subsidiaries|||||||||||||||||
|Name of theCompanyguaranteed|Relevantdisclosuredate/No. oftheguaranteedamount||||||||||||Guaranteeterm||||
|||||Date of|||||||||||Complete|Guarantee|
||||Amount|happening|||Actual||||||||implemen|for|
|||||||||||Guarantee|||||||
||||of|(Date o|||mount of||||||||tation|associated|
|||||||||||type|||||||
||||guarantee|signing|||guarantee||||||||or|parties|
|||||agreement)|||||||||||not|(Yes or no)|
|The Company’s total guarantee(i.e.total of the first three main items)|||||||||||||||||
|Total guarantee quota approved|||||||Total amount of guarantee||||||||||
|in the reportingperiod|||||||actually incurred in the||||||-2,930||||
|（A1+B1+C1）|||||||reporting period（A2+B2+C2）||||||||||
|Total guarantee quota already|||||||Total balance of the actual||||||||||
|approved at theendof the|||332,371||||guarantee at the end of the||||||25,376||||
|reporting period（A3+B3+C3）|||||||reporting period（A4+B4+C4）||||||||||
|The proportion of the total amount of actually guarantee in the|||||||1.07%||||||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||
|-|-|
|netassetsof the Company (that is A4+B4+C4）%||
|Including：||
|The debts guarantee amount provided for the||
|Guaranteed parties whose assets-liability ratio exceed|17,256|
|70% directly or indirectly（E）||
|Total guarantee Amount of the abovementioned guarantees||
||17,256|
|（D+E+F）||

Description of the guarantee with complex method
(2) Illegal external guarantee
□ Applicable√ Not applicable
No Illegal external guarantee in the report period.
3. Other significant contract
□ Applicable√ Not applicable
No other significant contracts for the Company in reporting period.
XV.Social responsibilities
1.Major environmental protection
The Listed Company and its subsidiary whether belongs to the key sewage units released from environmental protection department
Yes
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Main|||||||||
|||||Emission||Implemented||Verified||
||pollutant and||Emission||Emission||Total||Excessive|
|Company or||Emission||port||pollutant||total||
||specific||port||concentration||emission||emission|
|subsidiary name||way||distributio||emission||emission||
||pollutant||number||(mg/Nm3)||(Tons)||condition|
|||||n condition||standards||(Tons)||
||name|||||||||
|||||||Emission||||
|||||||Standard of Air||||
|||Concentra||||||||
|||||||Pollutants for||||
|||ted||||||||
|Shajiao A power||||Within the||Thermal Power||Not||
||Smoke|emission|2||1.67||22.868||No|
|plant||||factory||Plants||approved||
|||through||||||||
|||||||(GB13223-201||||
|||chimney||||||||
|||||||1) special||||
|||||||emission limit||||
|||||||Emission||||
|||||||Standard of Air||||
|||Concentra||||||||
|||||||Pollutants for||||
|||ted||||||||
|Shajiao A power||||Within the||Thermal Power||Not||
||SO2|emission|2||16.79||230.51||No|
|plant||||factory||Plants||approved||
|||through||||||||
|||||||(GB13223-201||||
|||chimney||||||||
|||||||1) special||||
|||||||emission limit||||
|||Concentra||||Emission||||
|||ted||||Standard of Air||||
|Shajiao A power||||Within the||||Not||
||NOX|emission|2||27.6515|Pollutants for|381.68||No|
|plant||||factory||||approved||
|||through||||Thermal Power||||
|||chimney||||Plants||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||||||(GB13223-201||||
|||||||1) special||||
|||||||emission limit||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|||ted||||Pollutants for||||
|Guangdong Yudean||||Within the||||||
||Smoke|emission|2||2.46|Thermal Power|13.531|593|No|
|Dapu Power Plant||||factory||||||
|||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|||ted||||Pollutants for||||
|Guangdong Yudean||||Within the||||||
||SO2|emission|2||13.32|Thermal Power|73.430|1447|No|
|Dapu Power Plant||||factory||||||
|||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|||ted||||Pollutants for||||
|Guangdong Yudean||||Within the||||||
||NOX|emission|2||27.90|Thermal Power|153.728|1502|No|
|Dapu Power Plant||||factory||||||
|||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Zhanjiang||ted||||Pollutants for||||
|||||Within the||||||
|Zhongyue Energy|Smoke|emission|2||2.29|Thermal Power|21.62|480|No|
|||||factory||||||
|Co., Ltd.||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Zhanjiang||ted||||Pollutants for||||
|||||Within the||||||
|Zhongyue Energy|SO2|emission|2||14.17|Thermal Power|135.68|1200|No|
|||||factory||||||
|Co., Ltd.||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Zhanjiang||ted||||Pollutants for||||
|||||Within the||||||
|Zhongyue Energy|NOX|emission|2||29.05|Thermal Power|278.05|1587|No|
|||||factory||||||
|Co., Ltd.||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|Guangdong||Concentra|||330MW:|Standard of Air||||
|||ted||||Pollutants for||||
|Shaoguan Yujiang||||Within the|9.45；|||||
||Smoke|emission|2|||Thermal Power|43.63|358.89|No|
|Power Generation||||factory|600MW:|||||
|||through||||Plants||||
|Co., Ltd.|||||1.41|||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|Guangdong||Concentra||||Emission||||
|||||Within the|330MW:|||||
|Shaoguan Yujiang|SO2|ted|2|||Standard of Air|508.76|1151.78|No|
|||||factory|115；600MW:|||||
|Power Generation||emission||||Pollutants for||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Co., Ltd.||through|||14|Thermal Power||||
|||chimney||||Plants||||
|||||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong||||||||||
||||||330MW:|||||
|||ted||||Pollutants for||||
|Shaoguan Yujiang||||Within the||||||
||NOX|emission|2||120；600MW:|Thermal Power|713.04|1404.5|No|
|Power Generation||||factory||||||
|||through|||33|Plants||||
|Co., Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|||ted||||Pollutants for||||
|Zhanjiang Electric||||Within the||||||
||Smoke|emission|2||2|Thermal Power|25.458|26|No|
|Power Co., Ltd.||||factory||||||
|||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|||ted||||Pollutants for||||
|Zhanjiang Electric||||Within the||||||
||SO2|emission|2||8|Thermal Power|115.746|117|No|
|Power Co., Ltd.||||factory||||||
|||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|||ted||||Pollutants for||||
|Zhanjiang Electric||||Within the||||||
||NOX|emission|2||28|Thermal Power|398.438|407|No|
|Power Co., Ltd.||||factory||||||
|||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong Yudean||ted||||Pollutants for||||
|||||Within the||||Not||
|Jinghai Power|Smoke|emission|2||3.16|Thermal Power|87.24||No|
|||||factory||||approved||
|General Co., Ltd.||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong Yudean||ted||||Pollutants for||||
|||||Within the||||Not||
|Jinghai Power|SO2|emission|2||13.72|Thermal Power|372.27||No|
|||||factory||||approved||
|General Co., Ltd.||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong Yudean||ted||||Pollutants for||||
|||||Within the||||Not||
|Jinghai Power|NOX|emission|2||33.43|Thermal Power|911.61||No|
|||||factory||||approved||
|General Co., Ltd.||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|Guangdong Red||Concentra||||Emission||||
||Smoke||2|Within the|3.30||69.89|Not|No|
|Bay Power General||ted||||Standard of Air||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Co., ltd.||emission||factory||Pollutants for||approved||
|||through||||Thermal Power||||
|||chimney||||Plants||||
|||||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong Red||ted||||Pollutants for||||
|||||Within the||||Not||
|Bay Power General|SO2|emission|2||9.23|Thermal Power|198.10||No|
|||||factory||||approved||
|Co., ltd.||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong Red||ted||||Pollutants for||||
|||||Within the||||Not||
|Bay Power General|NOX|emission|2||34.97|Thermal Power|755.03||No|
|||||factory||||approved||
|Co., ltd.||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Maoming||||||||||
|||ted||||Pollutants for||||
|Zhenneng||||Within the||||||
||Smoke|emission|2||1.77|Thermal Power|19.08|84.06|No|
|Thermal power||||factory||||||
|||through||||Plants||||
|Co., Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Maoming||||||||||
|||ted||||Pollutants for||||
|Zhenneng||||Within the||||||
||SO2|emission|2||10.38|Thermal Power|75.69|192.75|No|
|Thermal power||||factory||||||
|||through||||Plants||||
|Co., Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|Maoming||Concentra||||Standard of Air||||
|||ted||||Pollutants for||||
|Zhenneng||||Within the||||||
||NOX|emission|2||26.73|Thermal Power|290.68|344.79|No|
|Thermal power||||factory||||||
|||through||||Plants||||
|Co., Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong||||||||||
|||ted||||Pollutants for||||
|Huizhou Pinghai||||Within the||||Not||
||Smoke|emission|2||2.24|Thermal Power|33.34||No|
|Power Plant Co.,||||factory||||approved||
|||through||||Plants||||
|Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong||||||||||
|||ted||||Pollutants for||||
|Huizhou Pinghai||||Within the||||Not||
||SO2|emission|2||21.94|Thermal Power|370.31||No|
|Power Plant Co.,||||factory||||approved||
|||through||||Plants||||
|Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong||||||||||
|||ted||||Pollutants for||||
|Huizhou Pinghai||||Within the||||Not||
||NOX|emission|2||47.82|Thermal Power|602.74||No|
|Power Plant Co.,||||factory||||approved||
|||through||||Plants||||
|Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong||||||||||
|||ted||||Pollutants for||||
|Guohua Taishan||||Within the||||Not||
||Smoke|emission|6||1.5|Thermal Power|65||No|
|Power Generation||||factory||||approved||
|||through||||Plants||||
|Co., Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong||||||||||
|||ted||||Pollutants for||||
|Guohua Taishan||||Within the||||Not||
||SO2|emission|6||14|Thermal Power|628||No|
|Power Generation||||factory||||approved||
|||through||||Plants||||
|Co., Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|Guangdong||||||||||
|||ted||||Pollutants for||||
|Guohua Taishan||||Within the||||Not||
||NOX|emission|6||31|Thermal Power|1341||No|
|Power Generation||||factory||||approved||
|||through||||Plants||||
|Co., Ltd.||||||||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|||ted||||Pollutants for||||
|Qianwan LNG||||Within the||||Not||
||NOX|emission|3||31.12|Thermal Power|223.48||No|
|power plant||||factory||||approved||
|||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||
|||||||Emission||||
|||Concentra||||Standard of Air||||
|||ted||||Pollutants for||||
|Huizhou LNG||||Within the||||Not||
||NOX|emission|3||35.43|Thermal Power|363.4||No|
|power plant||||factory||||approved||
|||through||||Plants||||
|||chimney||||(GB13223-201||||
|||||||1)||||

Prevention and control of pollution facilities construction and operation
Within the report period, the company responds positively to requirements of the newest environmental protection policies, strengthens the operation adjustment of the desulfurization and denitrification system and equipment maintenance management, intensifies the transformation of the energy-saving technologies and dust-cleaning equipment, improves the equipment operation efficiency, decrease the smoke and dust discharging concentration and guarantee compliance of each pollutant emission with the national and local environmental protection requirements. In accordance with the national environmental protection plan, each power plant of the company implements positively requirements of Coal-fired Power Energy Saving and Emission Reduction Upgrading and Transform Action Plan (2014-2020) and National Energy Administration Comprehensive Division Notice about
Decomposition and Implementation of Coal-fired Power Energy Saving and Emission Reduction Upgrading and
Transform Target Tasks, etc. and promotes the ultra-low emission transformation project. At present, the
company's subordinate coal-fired units have all completed ultra-low emission transformation work, and the
emission concentration of export flue gas pollutants has been greatly reduced on the basis of the original
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 environmental emission standards, reflecting the company's determination to fulfill its social responsibilities and the responsibility to protect the environment mission.
Conditions of environmental impact assessment and other environmental protection administrative licensing of construction projects
The company's construction projects that have been approved by government agencies have all undergone environmental impact assessments and have obtained other necessary environmental protection administrative licenses.
Emergency plan for emergency environmental incidents
Combining with the Environmental Protection Law of the People's Republic of China and the Opinions of the Ministry of Environmental Protection on Strengthening Environmental Emergency Management Work and other laws and regulations on the monitoring of environmental risks, thecompany’s subordinate power generation enterprises have formulated the Emergency Plan for Emergency Environmental Incidents according to their actual conditions, which has standardized and improved the handling of emergent environmental events from the aspects of environmental accident risk analysis, emergency command organization and responsibilities, disposal procedures, and disposal measures, improved the ability to respond to unexpected environmental events, and ensured that after an outbreak of an environmental incident, the company can organize emergency rescue work in a timely, orderly and efficient manner to prevent pollution of the surrounding environment, minimize the damage and social harm caused by the incident, maintain social stability, and protect public health and property safety. Environmental self-monitoring program
During the reporting period, thecompany’s subordinate power generation companies organized annual environmental self-monitoring programs in accordance with the national Administrative Measures on Automatic Monitoring of Pollution Sources (No. 28 order of State Environmental Protection Administration) and other laws and regulations, and conducted self-monitoring of the environment in accordance with the monitoring program, and announced its own monitoring results in Guangdong Province's key pollution source regulatory information platform and the national pollution source monitoring information and sharing platform. Both the announced rate and completion rate had reached100%.
Other environmental information that should be disclosed
Nil
Other environmental protection related information
Nil
2.Overview of the annual targeted poverty alleviation
（1）Precise poverty plan
The Company will in depth implement the spirits of the Central work Conference on Poverty Alleviation and the Development and General Secretary Xi Jinping's series of important speeches on poverty alleviation and the development, and in accordance with the Guangdong Provincial people's Government's "Opinions on the implementation of Three years Strongly Tackling Difficulties on Precision Poverty Alleviation and Precision Poverty Reduction in the New Time" and the overall plan and arrangement of Guangdong Province's 2016-2018 of new time of "Precision Poverty Alleviation and Precision Poverty Reduction", by adhering the concept of innovation, coordination, green, open and shared development, the Company will strengthen the awareness of the overall situation and the sense of responsibility of “The Rich fist leads latter, and realize the common prosperity”, fully utilize the advantages, carry out the measures of precision poverty alleviation to the village-under-aid, effectively enhance the local “vitality-making” function, focus on boosting thevillage’s collective economic strength, developing the environment and society andpeople’s livelihood, thus to increase the income of poverty-alleviation objects, so as to ensure the accomplishment of various project goals and tasks.
1. Soundly do the work of the poverty alleviation by industry development. Formulate the characteristic industry development for the village-under-aid, implement the “one village, one product” industry promotion action, tap into the resources advantages, precisely select the dominant industry and the dominant products, support the construction of characteristic agricultural bases with high participation of poverty households, support the large agricultural households and professional cooperatives , small and micro enterprises and so forth agricultural operation bodies to speed up the development. Explore the “Internet+ Precision Poverty Alleviation” model, strengthen the training of rural E-commerce merchants in poor villages, and encourage farmers to open online
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 stores for self-development.
2. Explore the poverty alleviation by shares. Promote the income-increase mode of poor village collective economy, allow the financial special poverty alleviation funds and other agricultural-related funds to invest in facilities such as agriculture, farming, industrial parks, hydropower, rural tourism and so forth without changing their use purposes, and the resulting asset income can be converted to shares quantization to poor villages and poor households. Cooperate with the local to explore and promote the rights confirmation of land management with accordingly converting to shares, guide poverty-stricken households, especially those who are incapable of working, to voluntarily transfer the land management rights according to law, and use assets such as land, agricultural facilities, and poverty alleviation funds to price to convert into shares, gaining the operating income according to shares.
3. Cooperation in training and employment. Oriented towards enhancing the ability of the poor to get employment, assist to carry out the all kinds of policy training, promote the relevant vocational and technical colleges to recruit children from poor families, thus to enable them to achieve skills to get out of poverty.
4. Improve the infrastructure. Cooperate with the local to improve the traffic conditions and development environment in the village-under-aid; support and help key villages-under-aid of the safe drinking water projects; improve farmland water conservancy facilities; improve sewage facilities; improve the garbage collection and treatment and the cleaning system; improve village cultural and leisure activities, public toilets, landscaping and greening and other facilities; ensure that the relevant indicators meet the provincial standards.
5. Boost the education culture. In coordination with the local education and cultural departments, the Company will vigorously promote the poverty alleviation through education so that all children in the villages-under-aid can receive a good education, increase the education subsidies for poor families, ensure that children from poor households do not drop out of school due to poverty, pay attention to left-behind children, and build left-behind children's service centers.
6. Help to improve the environment. Cooperate with the local to raise funds by multi-channels to help impoverished households complete the renovation of dilapidated buildings and fully complete the task of assisting low-income people in housing reconstruction, assisting in the improvement of domestic garbage disposal, sewage treatment, public toilets and greening and beautification of villages. We will use the entire village as a platform to accelerate the improvement of production and living conditions of poor villages, and steadily promote the construction of beautiful livable villages to realize the new appearance of the old villages.
7. Consolidate the grassroots foundation. Cooperate with the local people to adhere to the Party building and poverty alleviation both at the same time, with the party building to help the poor and with the poverty alleviation to promote the party building. Organize and hold regular meetings of the "two committees" meetings of the villages to study the work of aiding the poor; the assigned cadres should assist the "two committees of the village" to do a good job in organizing the masses, serving the masses, uniting the masses, and enhancing the ability of the cadres of the "two committees" of the poor villages to lead the people out of poverty and run to health;It’s necessary to constantly strengthen the development consciousness, market awareness, teaching ideas, teaching methods and teaching experience of cadres at the grass-root level, mobilizing the grass-root level cadres, strengthen the grass-root organizations, muster up the drive to fight against poverty, and build up “The never-leaving Task Force on Poverty Alleviation”, thus to lay the foundation for the sustainable and healthy development of poor villages.
8. Lead multiple parties to participate in. Guide industries, enterprises, social organizations and individuals to participate in poverty alleviation, and encourage companies to actively undertake social responsibilities, fully stimulate the market's vitality, and help villages to invest in industries, develop training skills, absorb employment, and help the poor with donated money through various forms such as resource development and joint construction of villages and enterprises.
9. Strengthen the publicity for poverty alleviation. Adhere to the guidance of public opinion, comprehensively publicize and accurately interpret the decision-making and deployment of “Precision poverty alleviation and Precision poverty reduction”, strengthen the ideological education and guidance, and strengthen the cadres and the masses' centripetal force and cohesion in poverty alleviation work and the development work. Guide the villagers to change the obsolete customs and habits, stimulate the impoverished people to work hard and develop good enthusiasm, and create a positive atmosphere for self-reliance, hard-working and getting rid of poverty and becoming better off.
（2）Half-year poverty relieving summary
During the reporting period, the company conscientiously implemented the Guangdong Province's “Precision
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Poverty Alleviation and Precision Poverty Reduction in Three Years of Strongly Tackling Difficulties” program and actively organized manpower, material, and financial resources for poverty alleviation. The 6 subordinate companies namely the Yuejiang Company, Honghai Wan Company, Zhenneng Company, Zhanjiang Company, Dapu Company, Zhanjiang Wind Power Company actively carried out the precision poverty alleviation work and achieved phased results.
I. Counterpart assistance of Yuejiang Company on Mixiashui Village,Quanan Town,Luhe County
(1) Status of Pilot Projects of Comprehensive Development
According to the requirement of targeted poverty alleviation plan made after Mixiashui village was investigated by Mayor Yin on May 2,, Shaoguan municipal government office, Shaoguan power plant, villages and towns in Nanxiong city as well as the resident working team in Xiashuimi village immediately got down to carry out the pilot work of comprehensive development for Mixiashui village. They took over the Shudongpo farm in Xinfeng county, and visited and studied the development experience in Xiutian village in Matou Town, Xinfeng County successively. Up to now, Mixiashui village has signed a 10-year-period contract of land circulation with its 200 mu of land, which occupies50% of the predicted circulation land, where the rest of about 200 mu of land will be done with its circulation in the near future. Meanwhile, combined with the new rural construction, we will enlarge the integration of land, ecology, humanity history and natural landscape as well as other resources to speed up the comprehensive development.
(2)Status of Industry Support
1.We will develop the leading industry of high-quality rice. We will make the cooperative come into play as a platform . We will promote the mode of"Companies+Cooperatives+ Growers" and implement the contract farming and the incentive measures for growing and planting. We will uniformly do external selling through the cooperative platform. We will open up the sales market for high-quality rice to improve the ability of bargaining in the market. We will optimize sales channels to increase revenue. At present, we have formulated and published "Support Plan of the Leading Industry of High-quality Rice with the Participation of Mixiashui Village inQuan’an Town, Nanxiong City". We have reserved about 30,000 yuan for rewarding the cooperative growers who participate in growing high-quality rice upon the sales section. We have signed the contract of high-quality rice growth with Nanxiong Xiangyi Industry and Trade Co., Ltd., and we have publicized through thevillagers’ congress and many other venues. At present, the high-quality rice grown in Mixiashui Village has been in planting season. We plan to drive 16 poor households with labor ability and other non-poor households to develop the growth of about 300 mu of high-quality rice.
2. We will build ecological aquaculture industry with characteristics. We have formulated and published “Support Plan of Developing Ecological Aquaculture Industry with Characteristics by Breeding Giant Spiny Frogs in Xiamishui Village inQuan’an Town, Nanxiong City ”, wherein we invest 30,000 yuan to support one household with labor ability which has the experience and willingness of breeding giant spiny frogs, which is invested for the labor and relevant work. The support team will help purchase construction materials to help that household to build around 300m² of farm for breeding giant spiny frogs. And the support team will take Zhongzhi Cooperative as a platform to invest 13,000 yuan to purchase 65 pairs of giant spiny frogs. The frogs will be centralized to foster and care, and which will be cared by that poor household. The annual production number of froglings is predicted to be 10,000, which will benefit 16 poor households and they can get dividends every year. At present, 130 giant spiny frogs have been introduced into the farm and the breeding is in good condition.
3.We will make a good implementation of the policy of "rewards instead of subsidies". We will continue to implement the whole range of supporting measures of the policy of "rewards instead of subsidies" . We have formulated and published "Supportive Measures to Guide the Poor Households with Labor Ability in Mixiashui Village, Quan'an Town, Nanxiong to the Development and Production Project in 2018". Up to now, there are 6 poor households breeding 137 piglets, 6 poor households breeding 265 chicks and 3 poor households breeding 112 ducklings (goslings) in total. There are 2 poor households growing 2.3 mu of rice and 14 poor households growing 19.7 mu of peanuts in total.
(3)Status of Employment and thePeople’s Livelihood
1.We will implement the "Three Securities" policy in an all-round way.
First, we will implement the housing security In 2018, 17 households were listed into the households of renovation of dilapidated houses, 6 of which have been completed.
Second, we will implement the educational security. In 2018, 18 households and 24 students have been documented and given student ID cards, and the enrolment rate was100%.
Third, we will implement the medical security to cover the whole state. We will implement the medical security policy in an all-round way. 39 households and 105 poor households, subsidized to set up their documents and applying for their medical cards, have bought urban and rural medical insurance
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 2.Ensure thepeople’s livelihood.
First, up to now, all the poor households have been provided with adequate living materials, such as oil and rice, which worth about 40,000 yuan and has helped improving their life effectively.
Second, we have offered warm condolences at spring festival. On February 10, 2018, Mayor Yin delegated Zhu Zhizeng, the deputy secretary of the party group of the municipal government, to offer condolences to the poor households and the village committee in Xiashui village, into which 41,500 yuan was invested.
4. Status of Public Infrastructure Project
1.We will make an orderly implementation for the project of irrigation and water conservancy.
About striving for the project of industrial funds:For irrigation and water conservancy project, we will strive for 1,622 mu of high-quality farmlands in scale, which involves with more than 2,430,000 yuan of investment funds, of which construction is now ongoing and will be completed in the near future.For drinking water safety project, we have completed the designing work, which will be listed into the construction plan and construction fund will be arranged.
2.We will make a smooth development for the construction of transport infrastructure. We have earned the hardening project index for 10 km of our village road, which involves about 3 million yuan of investment funds, of which construction is now ongoing and will be completed in the near future.
3.We will orderly implement the public service projects. At present, the project of the health station in Miaxiashui village and the public service center of home-based care for the aged have been completed. The main project of the health station in Miaxiashui village is now being at the period of decoration.
(5)Progress of Comprehensive Rural Reform
1. Thevillagers’ autonomy council has been set up with 9 villagers' groups (natural villages), which exercises the function of autonomy for the public affairs inside and outside of the village. And the public service center has been set up by the village committee to expand public services besides government services and provide villagers with public services such as e-commerce platform. The funding gap of supporting this project is 19,300 yuan. 2.We will steadily carry out the work of building new socialist countrysides. We have declared 9 village groups as the clean and tidy villages, including Shangmen, Longjiangkeng, Chengsi, Liaowu, Yaowu, Liuwu, Shigang, Shijiaowan, Rongshuxia. At present, Rongshuxia and Shijiaowan is now carrying out the work of building new countrysides. We will carry out the project of "Three Clean-up" and "Three Demolition", where the funding gap of supporting this project is 16,163 yuan.
(6)Progress of Implementing the Economic Project for Village Collectives
We will develop the village collective economy and enhance the ability of the village committee to provide public services. We plan to take the form of purchasing shops and participating in the asset income project arranged by Nanxiong city to form sustained asset income, increase the income of the village collective economy and draw appropriate proportion of the income as public welfare fund to benefit the poor masses. According to the spirit of the meeting held by the party office of Shaoguan municipal government on January 29, the form of purchasing shops to develop the collective economy, adopted by the committee of Mixiashui village, was agreed in principle, and the shops will be purchased with the joint contribution of Mixiashui village and Yangli village under the coordination ofQuan’an town.
II. Counterpart assistance of Red Bay Company on Outian Village, Luoxi Town, Luhe County
1. Actively Complete and Promote the Construction of Projects for the Village
(1)We will help the economic development project of the village collectives. We will establish Outian Commercial Development Co., Ltd., and arrange the poor households to carry on the project of growing sweet potatoes and breeding bees.
We will promote the project of targeted poverty alleviation in Xinhe industrial park and buy a share in it. In order to build up a long-term effective poverty alleviation mechanism to prevent the phenomenon of repoverty, we will take the village as the main body to buy a share in industrial park utilizing the support fund. The supporting unit will invest supporting fund of 1 million yuan for the village, in which the villagers will obtain dividend by10% (minimum) every year. And the unit will invest 500,000 yuan in the tourism project of Luoxi Valley, OCT, in which10% of dividend (minimum) will be given to the villagers every year to help the poor people out of poverty. 3.We will carry out the training project of labor skill and employment transfer for the poor people. According to the needs of the poor, we will separately organize agricultural applicable technology training for 50 people and relevant contents of employment transfer for 50 people, in which the training fund is 15,620 yuan.
4.We will actively introduce the project of Luoxi Valley, OCT. The resident working team in the village actively coordinates and communicates with Shenzhen OCT East, and actively contacts with relevant departments in the county. In June 2017, Shenzhen OCT East Group officially settled in Outian village and started the rural tourism project of Luoxi Valley, OCT. In June 2018, the project was officially put into use. Through developing the rural
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 tourism industry, the poor households have been led to get rid of poverty and become rich.
5.We will complete the fund investment of 980,000 yuan in the construction of the cultural activity center in Outian Village.
(2).Fully Deploy, Actively Implement, and Actively Promote the Completion of Household Project Construction. 1.We will actively implement poverty reduction plan. According to the plan delivered by thecounty’s poverty alleviation office, we have completed the poverty alleviation for 51 households and 222 people before the first half year, and 5 households and 18 people are yet to shake off poverty, of which main reason is that the renovation of dilapidated houseshaven’t been checked and accepted yet. The economic income of the village has reached the conditions for poverty alleviation. We have overfulfiled the poverty alleviation plan delivered by the poverty alleviation office of the county.
2.We will vigorously promote the support of medical insurance and social insurance. We have completed supporting 240 villagers to pay the expense of medical insurance and social insurance.
3.We have completed the cost-of-living allowance for 60 students from poor households
(3)We will strengthen the work of grass-roots party building. To lay a favorable political foundation for shaking the village off poverty and building it into a new countryside, the working team will actively participate in and carry out the special study activities of "Three sessions, One lesson", "Two Studies, One Action" and "the Spirit of the 19th Party Congress" in the village.
(4)Status of Dilapidated House Renovation. There are 22 poor households of renovation of dilapidated house, 10 of which have been done with acceptance, and 12 of which are yet to be done with acceptance.
III. Counterpart assistance of Zhenneng Company on Xinpo Village, Shalang Town, Dianbai District, Maoming City
(I) Status of increasing-income projects
1. Implement the family vegetable basket project. It is mainly to mobilize and assist poor households to carry out decentralized breeding, and help the units to set up a prize fund to provide seedlings, production materials and rewards, and assist them in selling agricultural products. In the second half of 2017, baby chickens and technical training were distributed to 16 poor households, and a minimum-guarantee recycling agreement was signed. During the Spring Festival of 2018, poor households were assisted in selling the grown chickens, which increased the income of poor households by about RMB44,000 .
2. Adopt the mode of “company+ cooperative+ poor households”. The local agricultural planting company cooperates with Kaiyuan Professional Planting Cooperative in Dianbai District, Maoming City (composed of poor laborers, referred to as “Kaiyuan Cooperative”) to invest a total of 500,000 yuan including special financia funds of poor households and support funds of support units to establish a 60-mu leek planting base, and the company will be responsible for the follow-up investment. In March 2018, the project gave a dividend of RMB600 / person to every poor household.
3. Adopt the mode of “company+ cooperative+ poor households”. The photovoltaic company cooperates with Kaiyuan Cooperative to make the financial pooling funds of the poor households buying shares and build 200KW photovoltaic power stations at the top of the office building of Xinpo Village Committee, at the roof of teaching building of Xinpi Primary School and in the back mountain. The project started construction in late October 2017. It plans to connect to the grid before the Spring Festival in 2018. Currently, photovoltaic panels laying has been completed, of which 120KW has been connected to the grid for power generation. Due to problems such as insufficient transformer capacity, it is actively negotiating and communicating with the local power supply department, and the rest is planned to be connected to the grid for power generation around July 20. The project is expected to increase the income of poor households by RMB1,200 / person• year, and dividends will be paid to households in December 2018.
(II)Status of transferring employment
34 persons from poor households were mobilized to work outside the home to raise family income. 18 persons living in poverty were encouraged to conduct semi-agricultural and semi-industrial work that mainly consisted of plasterers and casual workers.
(III) Status of housing renovation
In Xinpi Village, 21 poor households applied for renovation of dilapidated houses. The resident team actively communicated with relevant departments, applied for risk-changing indicators, convened a meeting of poor households for mobilization, and timely reformed dilapidated buildings in strict accordance with the requirements. In 2016 and 2017, 17 households were renovated and received the subsidy funds in full. On the other hand, assist poor households in housing maintenance. After in-depth investigation, the doors and windows of the poor
households Xu Simei and Cai Yasi were damaged and affected their residence. To this end, Maoming Zhenneng
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Thermal Power Co., Ltd. subsidized more than 23,000 yuan to help them install aluminum alloy windows and renovate water and electricity lines during the Spring Festival of 2018, which has improved the living environment and ensured housing security. In addition, there are 4 households that have not undergone renovation of dilapidated buildings. The resident cadres have already learned about the situation on the spot, and the reported list application has been included in the scope of the 2018 dilapidated housing renovation. One of the households, Liao Huaguang, completed the house capping in June 2018.
(IV) Status of education subsidy
Help 40 students to apply for the education subsidy for the 2017-2018 school year. It has implemented the first semester subsidy fund of 1,500 yuan/person, which ensures that poor children of school age do not drop out of school due to poverty.
(V) Status of security policy
Purchase medical insurance for all poor households, improve the minimum living allowance and five guarantees treatment, and truly realize the insurance coverage; help the poor patients with severe illnesses to apply for medical assistance and reduce the economic burden; carry out the Spring Festival, July 1st condolences, and send consolation gifts and holiday greetings to poor households.
IV. Counterpart assistance of Zhanjiang Company on Waiyuan Village, Nanxing Town, Leizhou City
In the past six months, under the unified arrangement and leadership of Zhanjiang City and Leizhou Poverty Alleviation Office, thecompany’s poverty alleviation has earnestly implemented the relevant regulations of the province, city, county and town. Under the great attention and careful guidance of leaders at all levels, the poverty alleviation staffs has worked carefully, and actively organized human, material and financial resources to contribute to poverty alleviation: 1.Have completed the Spring Festival condolences to poor households in 2018; 2. Helped poor households purchase fertilizers, used them for agricultural production, increased crop yields, and increased economic income; 3. Met the inspection of 2017 poverty alleviation work in Zhanjiang City; 4. The company invested 50,000 yuan to build a basketball court of Huang Pai Primary School for the students who did not have a basketball court in the Huang Pai Primary School of Waiyuan Village Committee; 5.Assisted Zhanjiang Municipal Meteorological Bureau to purchase desks for pupils of Huang Pai Primary School; 6. Organized and took part in the activities of “three cleanups, three dismantling, and three rectifications” organized by Nanxing Town; 7. Completed the reporting work of the newly-increased poor households and the terminated poor households; 8. Organized party members to learn important speeches of Xi Jinping. 9. Met the inspection of Zhanjiang Discipline Inspection Group of the State-owned Assets Supervision and Administration Commission; 10. Met the condolences of the “July 1st” of Zhanjiang Municipal Meteorological Bureau on the party members; 11. Tracked and promoted the poor households to step up the renovation of dangerous buildings.
V. Counterpart assistance of Dapu Company on Xiamu Village, Fenglang Town, Dapu County, Meizhou City In the first half of 2018, the company continued to send a middle management officer as the first secretary to assist Jianghai Sub-district Office in Haizhu District of Guangzhou to help Xiamu Village, Fenglang Town, Dabu County, Meizhou City, and carried out the following assistance work:
1. In January 2018, invested 21,600 yuan for holiday condolences on 72 poor households in Xiamu Village; 2. Carried out to celebrate the 97th anniversary of the founding of the party, organized and condoled 15 60-year-old party members, organized party members to study at Sanheba Battle Memorial Hall of the Red Education Base, and organized party members and cadres to visit and learn at the new rural construction demonstration site in Beitang Village, Xihe Town, Dapu County;
3. Cooperated with the work of “three clears, three demolition and three rectifications” for the construction of new rural areas, and dismantled the waste latrines, pig pens and dangerous houses with an area of about 6,000 square meters;
4. Strived for industry funds to do a good job in rural drinking water projects;
5. Self-raised funds of 0.3 million yuan for helping poor households to raise cattle; the third party branch of Dabu Power Plant raised 0.3 million yuan to carry out the activities of co-building a grassroots party branch with Xiamu Village and the construction of a loving kitchen in Xiamu Primary School;
6. Completed the acceptance of cultural activity room of Dankeng Group, and did a good job in planning and designing the Party Group Activity Center of Xiamu Village.
VI. Counterpart assistance of Zhanjiang Wind Power Co., Ltd. on Houhai Village, Xinliao Town, Xuwen County In the first half of 2018, Zhanjiang Wind Power Company carried out the following poverty alleviation work
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 according to the precise poverty alleviation plan:
1. During the Spring Festival of 2018, 20,000 yuan of poverty alleviation funds were invested to carry out condolence activities for poor households. 33 poor households were condoled, totaling 56 people.
2. Invested in poverty alleviation funds of 80,000 yuan, purchased sheep and poultry for poor households, and benefited 4 poor households, totaling 15 people.
3. Invested in poverty alleviation funds of 20,000 yuan, purchased production materials (fertilizers) for poor households, and benefited 4 poor households, totaling 24 people.
4. Invested in poverty alleviation funds of 80,000 yuan for poor households, carried out the renovation of dilapidated buildings for poor households, benefited 7 poor households, totaling 41 people.
(3)Targeted Poverty Alleviation Result
||||
|-|-|-|
||Measurement||
|Index||Quantity / Status|
||unit||
|I. General situation|——|——|
|Thereinto： 1.Capital|Ten thousand|109.6|
|2. Cash supplies|Ten thousand|33.35|
|3. Ecological protection to poverty alleviation|Person|960|
|II.Breakdown Input|——|——|
|1. Poverty alleviation by industrial development|——|——|
|||Poverty Alleviation by agriculture and|
|Among them: 1.1 Project type of poverty alleviation by industrial||forestry; poverty alleviation through|
||——||
|development||tourism; poverty alleviation from asset|
|||income|
|1.2 Number of poverty alleviation projects in industrial development|a|9|
|1.3 Investment amount of industrial development poverty alleviation|||
||Ten thousand|162.3|
|project|||
|1.4 The number of poverty population who had been helped to create a|||
||Person|421|
|file|||
|2. Poverty alleviation by transfer employment|——|——|
|Among them: 2.1 Investment amount of vocational skill training|Ten thousand|0.3|
|2.2 Number of people of vocational skill training|Person|110|
|2.3 Quantity of employment of poverty population who had been helped|||
||Person|332|
|create a file|||
|3. Poverty alleviation by relocation|——|——|
|4. Educational poverty alleviation|——|——|
|Among them: 4.1 Investment amount of subsidizing poverty students|Ten thousand|0.12|
|4.2 Number of subsidized poverty students|Person|46|
|4.3 Improving the investment amount for education in poor areas|Ten thousand|0.13|
|5. Health poverty alleviation|——|——|
|6. Ecological protection poverty alleviation|——|——|
|7. Guarantee of all the details|——|——|
|8. Social poverty alleviation|——|——|
|9. Other projects|——|——|
|Among them: 9.1 Number of project|个|5|
|9.2 Investment amount|Ten thousand|43.55|
|9.3 Number of poverty population who had been helped to create a file|a|153|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|III. Awards (Content and level)|——|——|

（4）Subsequent targeted poverty alleviation program
The year 2018 is the critical year as the connection link for “targeted poverty alleviation and overcoming in three years”. The company and holding subsidiaries will continue implementing the province, city andcounty’s relevant regulations on the targeted poverty alleviation, and find out ways for targeted poverty alleviation based on the local conditions. Firstly, insist the party and style construction, promote the ideological building of the assistance object village “two committees” members and intensify the results of “two studies and one action” learning activity. Secondly, insist study and improve capacity, insist the thorough learning on the spirit of Xi Jinping series important speeches, the spirit of relevant targeted poverty alleviation papers, the village business knowledge and the way to communicate with the public and improve further the work capacity for people. Thirdly, intensify the key points and promote the implementation, each poverty alleviation work team will continue focusing on the targeted poverty alleviation, grasp the poverty alleviation central work and coordinate overall and implement relevant work. For the poor households poverty alleviation projects and village group projects listed in the filing and issuing cards, obtain positively support from relevant authority subject to the formulated target tasks, assist the assistance object villages and poor households in implementing the poverty alleviation projects and guarantee the overall completion of the poverty alleviation target tasks in the practical style.
XVI.Other material events
√ Applicable□Not applicable
1. Announcement of Guangdong Power Development Co., Ltd. on receiving the letter from Guangdong Development and Reform Commission on Printing and Distributing the Work Plan for Decommissioning and Alternative Power Construction of Shajiao Power Plant (Announcement No.: 2018-12), on the
9th
of February 2018,It was disclosed on China Securities Journal, Securities Times and Juchao Information Network .
2. Announcement of Guangdong Electric Power Development Co., Ltd. on the “Return of the Results of “12 Yudean Debt”” (Announcement No.: 2018-14), on China Securities Journal, Securities Times and Juchao Website on March 17, 2018 Disclosure.
XVII. Material events of subsidiaries
√ Applicable□Not applicable
The company's holding subsidiary, Guangdong Yudean Pinghai Power Plant Co., Ltd, received the “Administrative Punishment Decision” issued by the Guangdong Provincial Ocean& Fisheries Bureau on November 14, 2016 (No. 019-2016 Yuehai Executive Punishment), and the punishment decision “ordered Pinghai to return the illegally occupied sea areas and restore the sea areas to their original state, and sentenced 10 times fines to the use fees of sea areas that shall be imposed within the period of that illegally occupied 16.3947 hectares, amounted to RMB 172,144,350.00” for that Pinghai Power Plant carried out the site leveling and bank protection work of Pinghai power plant without approval and did the reclamation of 16.3947 hectares and its behavior violated the provisions of Article 3 of the Law of the People's Republic of China on the Administration of the Use of Sea areas. Based on the audited net profit of RMB 3.238 billion attributable to the shareholders of the parent company in 2015, the amount involved in the above-mentioned administrative penalty affects the net profit attributable to shareholders of the parent company of about 77.4 million-which accounts for2.39% of the net profit of the most recently audited period.
Pinghai Power Plant disagreed with the punishment measures of the “Administrative Punishment Decision" and applied for administrative reconsideration to the People's Government of Guangdong Province on January 16, 2017 in accordance with Article 6 of the "Administrative Reconsideration Law of the People's Republic of China". On June 16, 2017, the People's Government of Guangdong Province issued a decision on the administrative reconsideration, which stated “According to the provisions of Item 1 of Paragraph 1 of Article 28 of the Administrative Reconsideration Law of the People's Republic of China, the Administrative Punishment Decision (No. 019-2016 Yuehai Executive Punishment) made by therespondent’s Provincial Department of Ocean and
Fisheries is maintained.” Pinghai Power Plant disagreed with the aforementioned administrative reconsideration
decision and filed an administrative litigation to the Guangzhou Maritime Court on July 18, 2017. On December
28, 2017, the Guangzhou Maritime Court issued an administrative decision, stated “In accordance with the
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 provisions of Article 69 of the Administrative Procedure Law of the People's Republic of China, the decision is as follows: the claim of the plaintiff Guangdong Huizhou Pinghai Power Plant Co., Ltd was rejected”. Pinghai Power Plant disagreed with the verdict, and lodged an appeal to the Guangdong Provincial Higher People's Court against the verdict, which has not yet been determined. According to the net profit of RMB 937 million attributable to shareholders of the parent company in the previous year (2016), the amount involved in the above lawsuit affects the net profit attributable to shareholders of the parent company of approximately RMB 77.4 million, which accounts for approximately 8.26% of the net profit of the most recently audited period, which does not constitute a major impact on the Company.
As of the disclosure date of this report, the above-mentioned administrative punishment and the administrative litigation matter are still in the process of multi-party communication and coordination. According to the “Asset Purchase Agreement by Share Issuance” signed between Yudean Group and the Company in 2012, Yudean Group shall compensate the Company for the actual loss caused by the above-said matter in accordance with the result of the matter.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 VI. Change of share capital and shareholding of Principal
Shareholders
I.Changes in share capital
1. Changes in share capital
In shares
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Before the change||Increase/decrease（+，-）|||||After the Change||
||||||Capitalization|||||
||||Share|Bonus||||||
||Amount|Proportion|||of common|Other|Subtotal|Quantity|Proportion|
||||allotment|shares||||||
||||||reserve fund|||||
|I. Share with conditional||||||||||
||1,897,968,946|36.15%||||||1,897,968,946|36.15%|
|subscription||||||||||
|2. State-owned legal||||||||||
||1,893,342,621|36.06%||||||1,893,342,621|36.06%|
|person shares||||||||||
|3.Other domestic shares|4,626,325|0.09%||||||4,626,325|0.09%|
|Of which：Domestic legal||||||||||
||4,620,666|0.09%||||||4,620,666|0.09%|
|person shares||||||||||
|Domestic natural person||||||||||
||5,659|0 %||||||5,659|0 %|
|shares||||||||||
|II. Shares with||||||||||
||3,352,315,040|63.85%||||||3,352,315,040|63.85%|
|unconditional subscription||||||||||
|1.Common shares in RMB|2,553,907,040|48.64%||||||2,553,907,040|48.64%|
|2.Foreign shares in||||||||||
||798,408,000|15.21%||||||798,408,000|15.21%|
|domestic market||||||||||
|III. Total of capital shares|5,250,283,986|100 %||||||5,250,283,986|100 %|

 Reasons for share changed:
□ Applicable√ Not applicable
Approval of Change of Shares
□ Applicable√ Not applicable
Ownership transfer of share changes
□ Applicable√ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to common shareholders of Company in latest year and period
□ Applicable√ Not applicable
Other information necessary to disclose for the company or need to disclosed under requirement from security regulators
□ Applicable√Not applicable
2. Change of shares with limited sales condition
□ Applicable√Not applicable
Ⅱ.Issuing and listing
□ Applicable√Not applicable
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 III. Shareholders and shareholding
In Shares
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||97,149||||Total number of preferred|||||||
|Total number of common|||||||||||||
|||||||shareholders that had restored the|||||||
|shareholders at the end of the||||||||||0|||
|||||||voting right at the end of the|||||||
|reporting period|||||||||||||
|||r||||eporting period (if any) (note 8)|||||||
|Particulars about shares held above 5% by shareholders or top ten shareholders|||||||||||||
||||||||||||Number of share||
||||Proportion||Number of|Changes in|Amount of||Amount of||||
||Nature of||||||||||pledged/frozen||
|Shareholders|||of shares||shares held at|reporting|restricted shares||un-restricted||||
||shareholder||||||||||State of||
||||held（%）||period -end|period|held||shares held|||Amount|
||||||||||||share||
|Guangdong YudeanGroup Co., Ltd.|State-ownedlegal person||67.39%||3,538,005,285||1,893,342,621||1,644,662,664||||
|China SecuritiesFinance Co., Ltd.|State-ownedlegal person||2.78%||145,748,980||||145,748,980||||
|Guangdong GuangfaElectric PowerInvestment Co., Ltd.|State-ownedlegal person||2.22%||116,693,602||||116,693,602||||
|Guangdong ElectricPower DevelopmentCorporation|State-ownedlegal person||1.80%||94,367,341||||94,367,341||||
|Harbin Daoli DistrictCharity Foundation|DomesticNon-Stateowned legalperson||0.76%||39,877,666|-2,140,795|||39,877,666||||
|Li Zhuo|DomesticNaturalperson||0.61%||31,820,943|117,100|||31,820,943||||
|National Social SecurityFund 103 portfolio|DomesticNon-Stateowned legalperson||0.48%||24,994,982|2,000,000|||24,994,982||||
|Zheng Jianxiang|DomesticNaturalperson||0.41%||21,766,298|84,300|||21,766,298||||
|Harbin Hali IndustryCo., Ltd.|DomesticNon-Stateowned legalperson||0.41%||21,283,765|-784,800|||21,283,765||||
|CHINA INT'LCAPITAL CORPHONG KONGSECURITIES LTD|OverseasLegalperson||0.29%||15,316,067||||15,316,067||||
||||The fourth largest shareholder Guangdong Electric Power Development Corporation is the||||||||||
|Explanation on associated|||||||||||||
||||wholly-owned subsidiaries of the largest shareholder Yudean Group. These two companies||||||||||
|relationship among the aforesaid|||||||||||||
||||have relationships; whether the other shareholders have relationships or unanimous acting||||||||||
|shareholders|||||||||||||
||||was unknown||||||||||
|Shareholding of top 10 shareholders of unrestricted shares|||||||||||||
|Name of the shareholder||||Quantity of unrestricted shares held at the end of||||Share type|||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
||the reporting period|Share type|Quantity|
|Guangdong Yudean Group Co., Ltd.|1,644,662,664|RMB Common||
||||1,644,662,664|
|||shares||
|China Securities Finance Co., Ltd.|145,748,980|RMB Common||
||||145,748,980|
|||shares||
|Shenzhen Guangfa Electric PowerInvestment Co., Ltd.|116,693,602|RMB Common||
||||116,693,602|
|||shares||
|Guangdong Electric Power DevelopmentCorporation|94,367,341|RMB Common||
||||94,367,341|
|||shares||
|Harbin Daoli District Charity Foundation|39,877,666|RMB Common||
||||39,877,666|
|||shares||
|Li Zhuo|31,820,943|RMB Common||
||||31,820,943|
|||shares||
|National Social Security Fund 103portfolio|24,994,982|RMB Common||
||||24,994,982|
|||shares||
|Zheng Jianxiang|21,766,298|Foreign shares||
|||placed in||
||||21,766,298|
|||domestic||
|||exchange||
|Harbin Hali Industry Co., Ltd.|21,283,765|RMB Common||
||||21,283,765|
|||shares||
|CHINA INT'L CAPITAL CORP HONGKONG SECURITIES LTD|15,316,067|Foreign shares||
|||placed in||
||||15,316,067|
|||domestic||
|||exchange||
|Explanation on associated relationship or||||
|consistent action among the top 10|The fourth largest shareholder Guangdong Electric Power Development Corporation is|||
|shareholders of non-restricted negotiable|the wholly-owned subsidiaries of the largest shareholder Yudean Group. These two|||
|shares and that between the top 10|companies have relationships; whether the other shareholders have relationships or|||
|shareholders of non-restricted negotiable|unanimous acting was unknown.|||
|shares and top 10 shareholders||||
||The Fifth largest shareholder Harbin Daoli District Charity Foundation holds507,156 A|||
||shares of the Company through stock account with credit transaction and guarantee and|||
||holds39,370,510,114 A shares through ordinary stock account, hold 39,877,666 shares of|||
||the Company's stock totally.|||
|Explanation on shareholders participating|The Sixth largest shareholder Li Zhuo holds313,620 A shares of the Company through|||
|in the margin trading business(if|stock account with credit transaction and guarantee and holds31,507,323 A shares through|||
|any )(See Notes 4)|ordinary stock account, hold31,820,943 shares of the Company's stock totally.|||
||The Ninth largest shareholder Harbin Hali Industry Co., Ltd. holds341,120 A shares of the|||
||Company through stock account with credit transaction and guarantee and holds|||
||20,942,645 A shares through ordinary stock account, hold 21,283,765 shares of the|||
||Company's stock totally.|||

Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a buy-back agreement dealing in reporting period.
□ Yes√ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company have no buy–back agreement dealing in reporting period.
IV. Change of the controlling shareholder or the actual controller
Change of the controlling shareholder in the reporting period
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018□ 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.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 VII. Situation of the Preferred Shares
□Applicable√Not applicable
The Company had no preferred shares in the reporting period
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 VIII. Information about Directors, Supervisors and Senior Executives I. Change in shares held by directors, supervisors and senior executives
□Applicable√Not applicable
There was no change in shareholding of directors, supervisors and senior management staffs, for the specific information please refer to the 2017 Annual Report.
II. Changes in directors, supervisors and senior management staffs
√ Applicable□ Not applicable
||||||
|-|-|-|-|-|
|Name|Title|Type|Date|Reason|
|||||Elected as chairman of the company by the fourth|
|Wang Jin|Board chairman|Elected|June 11,2018||
|||||meeting of the ninth board of directors|
|||||Elected as Director of the Ninth Board of Directors of|
|Zheng Yunpeng|Director|Elected|June 28,2018|the Company by the Third Provisional General|
|||||shareholder’s Meeting of 2018|
|||||Appointed as general manager of the company at the|
|Zheng Yunpeng|General Manager|Appointment|June 11,2018||
|||||4th meeting of the 9th Board of Directors|
|||||Elected as Director of the Ninth Board of Directors of|
|Li Fangji|Director|Elected|June 28,2018|the Company by the Third Provisional General|
|||||shareholder’s Meeting of 2018|
|||||Elected as Supervisor of the Ninth Board of supervisors|
|Li Baobing|Supervisor|Elected|June 28,2018|of the Company by the Third Provisional General|
|||||shareholder’s Meeting of 2018|
|Huang Zhenhai|Board chairman|Resignation|June 11,2018|Job changes|
|Huang Zhenhai|Director|Resignation|June 28,2018|Job changes|
|Yao Jiheng|Director|Resignation|June 28,2018|Job changes|
|Yao Jiheng|General Manager|Dismissal|June 11,2018|Job changes|
|Zhao Li|Supervisor|Resignation|June 28,2018|Job changes|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 IX. Corporate Bond
Whether the company has corporate bonds that have been publicly issued and listed on the stock exchange, and not yet due or due butnot folly cashed on the approval date of annual report
Yes
1.Basic information of corporate bonds
|||||||||
|-|-|-|-|-|-|-|-|
||||||Bond|||
||Bond short|||||Interest||
|Bond name||Bond code|Issue day|Due day|balance (Ten||Servicing way|
||name|||||rate||
||||||thousand )|||
||||||||Using simple interest rate on a|
||||||||yearly basis, regardless of|
||||||||compound interest. Due|
|2012 Corporate bonds of||||||||
||12 Yudean||March|March|||payments once a year,|
|Guangdong Electric Power||112162.SZ|||4,030.65|4.95%||
||Bond||18,2013|17,2020|||maturing debt at a time. In the|
|Development Co., Ltd..||||||||
||||||||final phase, interest is paid|
||||||||together with the principal|
||||||||redemption.|
|Corporate bonds listed or trading places||Shenzhen Stock Exchange||||||
|Investor Proper Arrangement||Not applicable||||||
|||1. Status of bond redemption||||||
|||According to the “Prospectus for Public Offering 2012 Corporate Bond by Guangdong||||||
|||Electric Power Development Co., Ltd.” (hereinafter referred to as the “Prospectus”), the||||||
|||company released “the First Suggestive Announcement of Guangdong Electric Power||||||
|||Development Co., Ltd on the Coupon Rate of ‘12 Yuedian Debt’ Will Not Raised and||||||
|||on the Bondholders' Repurchase Implementation Measures” (Announcement No.:||||||
|||2018-07)”, “the Second Suggestive Announcement of Guangdong Electric Power||||||
|||Development Co., Ltd on the Coupon Rate of ‘12 Yuedian Debt’ Will Not Raised and||||||
|||on the Bondholders' Repurchase Implementation Measures” (Announcement No.:||||||
|||2018-08)”, “the Third Suggestive Announcement of Guangdong Electric Power||||||
|||Development Co., Ltd on the Coupon Rate of ‘12 Yuedian Debt’ Will Not Raised and||||||
|||on the Bondholders' Repurchase Implementation Measures” (Announcement No.:||||||
|||2018-10)” respectively on January 29, 2018, January 30, 2018 and January 31, 2018.||||||
|||The bondholders have the right to choose to sell all or part of the “12 Yuedian Debt”||||||
|||held to the company in full or in part at par value during the investor's put-back||||||
|During the reporting period, interest||||||||
|||declaration period, and the put-back price is RMB100/sheet (excluding interest). The||||||
|payment situation of the company bonds||||||||
|||put-back declaration date is from January 29, 2018 to January 31, 2018. According to||||||
|||the bond put-back declaration data provided by China Securities Depository and||||||
|||Clearing Co., Ltd. Shenzhen Branch, the put-back quantity of “12 Yuedian Debt” was||||||
|||11,596,935 sheets, and the put-back amount was RMB 1,217,087,933.25 (including||||||
|||interest), and the remaining custody quantity was 403,065 sheets. On March 16, 2018,||||||
|||the company paid the principal and interest of some of the bonds of this “12 Yuedian||||||
|||Debt” back to the designated bank account of China Securities Depository and Clearing||||||
|||Co., Ltd. Shenzhen Branch in full amount, and paid to the investor’s fund account on||||||
|||March 19, 2018.||||||
|||2. Status of bond interest payment||||||
|||On March 19, 2018, the company paid the bond interest for the current year to all the||||||
|||current bondholders who have registered in China Securities Depository and Clearing||||||
|||Co., Ltd. Shenzhen Branch by the closing of Shenzhen Stock Exchange on the||||||
|||afternoon of March 16, 2018.||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||
|-|-|
||The term of the current bonds is 7 years, attaching the option that the issuer will redeem|
||at the end of the fifth year, the option that the issuer raises the coupon rate and the|
||option that the investors will put back.|
||1. On January 29, 2018, the company disclosed the “Announcement of Guangdong|
||Power Development Co., Ltd. on Abandoning the Exercise of the Issuer’s Redemption|
||Option of “12 Yuedian Debt” (Announcement No.: 2018-06). March 19, 2018 is the 5th|
||interest-bearing annual interest payment date of “12 Yuedian Debt”. According to the|
||“Prospectus”, the company has the right to decide whether to exercise the issuer’s|
||redemption option on the 30th transaction date before the interest payment date of the|
||5th interest-bearing year of the current bond. The company decided to abandon the|
||exercise of the "12 Yuedian Debt" issuer's redemption option, that is, "12 Yuedian|
||Debt" continued to exist within the duration.|
||2. The company released “the First Suggestive Announcement of Guangdong Electric|
||Power Development Co., Ltd on the Coupon Rate of ‘12 Yuedian Debt’ Will Not|
||Raised and on the Bondholders' Repurchase Implementation Measures”|
||(Announcement No.: 2018-07)”, “the Second Suggestive Announcement of Guangdong|
||Electric Power Development Co., Ltd on the Coupon Rate of ‘12 Yuedian Debt’ Will|
||Not Raised and on the Bondholders' Repurchase Implementation Measures”|
||(Announcement No.: 2018-08)”, “the Third Suggestive Announcement of Guangdong|
|If the corporate bonds attached to special||
||Electric Power Development Co., Ltd on the Coupon Rate of ‘12 Yuedian Debt’ Will|
|clauses to the issuer or the investors such||
||Not Raised and on the Bondholders' Repurchase Implementation Measures”|
|as option clause and exchangeable clause,||
||(Announcement No.: 2018-10)” respectively on January 29, 2018, January 30, 2018 and|
|please specify the implementation status||
||January 31, 2018. According to the “Prospectus”, the issuer has the right to decide to|
|of the corresponding clauses. (When||
||raise the coupon rate for the next two years at the end of the fifth year of the “12|
|applicable)||
||Yuedian Debt”. In January 2018, the company's current bond has a coupon rate of|
||4.95% for the first five years of the duration of the bond. At the end of the fifth year of|
||the bond's duration, the company chose not to raise the coupon rate, which is the 2-year|
||coupon rate after the current bond's duration will still remain at 4.95%. According to the|
||"Prospectus", the bondholders can declare the put-back in a specified manner within 3|
||trading days from the date of the issuer's announcement on whether to raise the coupon|
||rate and the increase rate of the current bond. The “12 Yuedian Debt” put-back|
||declaration date is from January 29, 2018 to January 31, 2018.|
||3. On March 17, 2018, the company disclosed the “Announcement of Guangdong|
||Power Development Co., Ltd. on the Put-back Results of the Corporate Bonds ‘12|
||Yuedian Debt’” (Announcement No.: 2018-14). According to the bond put-back|
||declaration data provided by China Securities Depository and Clearing Co., Ltd.|
||Shenzhen Branch, the put-back quantity of “12 Yuedian Debt” was 11,596,935 sheets,|
||and the put-back amount was RMB 1,217,087,933.25 (including interest), and the|
||remaining custody quantity was 403,065 sheets. On March 16, 2018, the company paid|
||the principal and interest of some of the bonds of this “12 Yuedian Debt” back to the|
||designated bank account of China Securities Depository and Clearing Co., Ltd.|
||Shenzhen Branch in full amount, and paid to the investor’s fund account on March 19,|
||2018.|

2. Bond trustee and the credit rating agency information
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|Bond trustee：|||||||||||
|||||22/F, CITIC Securities|||||||
|||||||||Song|||
||CITIC Securities Co.,|||Building , No.48. Liangmaqiao|||||||
|Name||Office|||||Contact|Yilan,|Tel|010-60838888|
||Ltd.|||Road, Chaoyang District ,|||||||
|||||||||Yang Xin|||
|||||Beijing|||||||
|The credit rating agencies which follow and rate the corporate bond during the reporting period|||||||||||
|||||||8/F, Anji Building, No.760, Tibet South Road,|||||
|Name|CCXR||||Office address||||||
|||||||Huangpu District, Shanghai.|||||
|During the report period, the bond trustee,|||Not applicable||||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||
|-|
|credit rating agency employed by the|
|company that have changed, reasons for|
|the change, performing procedures,|
|relevant influence on investors,etc( If|
|applicable).|

3. The usage of corporate bonds to raise money
|||
|-|-|
||According to the relevant contents in the Prospectus of the Issuance of Bonds|
||announced on March 14, 2013, the company planned to use RMB 820 million of the|
|The usage and performance of raised funds||
||raised funds to repay the loans, thus to adjust the debt structure; the remaining RMB|
|from Corporate bonds||
||380 million of the raised funds planned for supplementing the company’s liquidity, so|
||as to improve the company’s funds status.|
|At the end of balance (Ten thousand)|0|
||The net amount of the funds raised by the bonds had been remitted to the company’s|
||designated bank account on March 20, 2013, of which the amount of RMB 820 million|
|Special fund raising account operation|of the raised funds had been used for repaying the loans, so as to adjust the debt|
||structure; the remaining RMB 380 million of the raised funds used for supplementing|
||the company’s liquidity, so as to improve the company’s funds status.|
|Whether the usage of the raised money||
|corresponding to the purposes of promise,|Yes|
|use plans, and other agreement||

IV.Corporate bond rating information
On June 11, 2018, CCXR traced and analyzed the credit status of the company and thecompany’s bonds of “12-Yudean Bonds”, maintained the credit rating of AAA for the main body of the company, with a stable outlook; maintained the credit rating of AAA for the corporate bonds.(The rating results were disclosed on the website: http://www.ccxr.com.cn/, with the title of Tracking and Rating Report for the 2012-Corpoprate Bonds of Guangdong Electric Power Development Co., Ltd(2018).
V.Corporate bond credit mechanism, the debt repayment plans and other security measures
(1)The credit-raising mechanism: No guarantee of thecompany’s bonds. After the comprehensive assessment by CCXR, the credit rating of the main body of the company is AAA with a stable outlook, and the credit rating of the corporate bonds is AAA.
(2)The repayment plan: The interest of the bonds commenced from the date of March 18, 2013, and the interest of the bonds shall be paid once each year within the duration of the bonds after the commencement date of the interest. The date of March 18 of each year in the period from 2014 to 2020 shall be the interest paying day for paying the recent fullyear’s bond interests (If it is not a working day, the payment day will be postponed to the first working day after the day).
During the reporting period, some investors exercised the put-back option. The put-back quantity of “12 Yudean Debt” was 11,596,935 sheets, and the put-back amount was RMB 1,217,087,933.25 (including interest). On March 16, 2018, the company paid the principal and interest of some of the bonds of this “12 Yuedian Debt” back to the designated bank account of China Securities Depository and Clearing Co., Ltd. Shenzhen Branch in full amount, and paid to theinvestor’s fund account on March 16, 2018.
The quantity of remaining bonds is 403,065 sheets, and the maturity date is March 18, 2020. The principal and the final interest will be paid at the expire date. and the corresponding principal and the last fullyear’s interest will be repaid.
(3) Safeguard measures for the repayment: in order to fully and effectively safeguard the interests of the bondholders, the company had made a series of work plans for the full repayment of the bonds that can be
implemented on time, including the designated department and personnel, arrangement of repaying the bonds,
establishment of the management measures, doing good organization and coordination, strengthening the
information disclosure and so on, strived to form a set of safeguard measures for ensuing the repayment of the
bonds.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 6.During the reporting period the bondholder meeting
During the reporting period, the company did not hold bondholders meeting.
7.During the reporting period the bond trustee perform his duties
Thecompany’s bond trustee- CITIC Securities Co., Ltd safeguarded the legal rights of the bond holders with in accordance with the law and performed the obligations stipulated in the Prospectus of the Issuance of Bonds and other publicly disclosed documents, hence continuously followed up and acquainted the relevant information of the company during the entrusting period, issued and provided the regular report of the bond trustee, with in accordance with thecompany’s information being followed up and acquainted.
During the reporting period, CITIC Securities Co., Ltd issued the Report of the 2012 Corporate Bonds Trustee for Guangdong Electric Power Development Co., Ltd(year of 2017) on May 28, 2018, and the report was disclosed on the cninf website on May 30, 2018 by the company.
8.During the reporting period, the company's major accounting data and financial indicators for last 2 years Ten thousand
|||||
|-|-|-|-|
|Items|June 30,2018|June 30,2017|At the same time rate of change|
|Current ratio|61.99%|60.09%|1.90%|
|Debt ratio|59.48%|58.17%|1.31%|
|Quick ratio|41.80%|41.95%|-0.15%|
||Reporting period|The same period of last year|At the same time rate of change|
|EBITDA interest coverage ratio|2.56|1.7|50.59%|
|Loans repayment rate|100 %|100 %|0 %|
|Interest payment rate|100 %|100 %|0 %|

 The material reasons for the changed ratio of the accounting data or financial indicators exceeds30% over the last year
√ Applicable□Not applicable
The reason for the increase in EBITDA interest coverage ratio by52.35% is mainly due to the year-on-year increase in thisyear’s electricity consumption and the adjustment of some depreciation periods of fixed assets from June of last year, resulting in better profitability this year.
9. The company fails to repay the debt
□ Applicable√ Not applicable
No such cases in the reporting period.
10. Information about the repayment of interest and principal for other bonds or debt financing instruments Nil
11.Information about the bank credit obtaining and use, as well as repayment of the bank loans during the reporting period
In ther report period, the company signed an unconditional available bank amount limit of about RMB 55.3 billion, of which the used amount limit was RMB 29.4 billion, thus the remaining available bank amount limit was about RMB 25.9 billion. In this year, the company repaid bank loans of about RMB5.9 billion, and the balance of bank loans was RMB 30.8 billion.
12. Information about fulfillment of the stipulations or commitments specified in the Prospectus of the issuance of
the bonds during the reporting period
The company had committed to pay the principal and interests to the bondholders according to the stipulations of
the prospectus of “Yudean Bonds” issuance. During the reporting period, the company strictly fulfilled the above
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 commitments. On March 19, 2018, the company paid the principal and interest of some of put-back bonds to the investors who exercised the put-back option, and paid the bond interest to all the current bondholders who have registered in China Securities Depository and Clearing Co., Ltd. Shenzhen Branch by the closing of Shenzhen Stock Exchange on the afternoon of March 16, 2018.
13. Major events occurred during the reporting period
Nil
14. Whether the corporate bonds have a guarantor
□ Yes√No
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 X. Financial Report
I. Audit report
Has this semi-annual report been audited?
□ Yes√ No
The semi-annual financial report has not been audited.
II. Financial statements
Currency unit for the statements in the notes to these financial statements:RMB
1. Consolidated balance sheet
Preparedby：Guangdong Electric Power Development Co., Ltd.
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Current asset：|||
|Monetary fund|5,928,583,780|4,996,580,490|
|Settlement provision|||
|Outgoing call loan|||
|Financial assets measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial assets|||
|Bill receivable|||
|Account receivable|2,904,469,301|2,826,237,259|
|Prepayments|1,248,732,740|826,786,279|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts|||
|receivable|||
|Interest receivable|18,297,556|14,923,771|
|Dividend receivable|||
|Other account receivable|284,543,125|208,907,993|
|Repurchasing of financial assets|||
|Inventories|2,006,400,069|1,527,634,773|
|Assets held for sales|||
|Non-current asset due in 1 year||29,563,053|
|Other current asset|1,158,190,094|1,137,582,469|
|Total of current assets|13,549,216,665|11,568,216,087|
|Non-current assets：|||
|Loans and payment on other’s behalf|||
|disbursed|||
|Disposable financial asset|1,181,164,895|1,243,633,985|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Expired investment in possess|||
|Long-term receivable|85,579,950|84,358,065|
|Long term share equity investment|5,926,328,997|5,801,006,412|
|Property investment|7,978,840|8,296,639|
|Fixed assets|40,052,143,800|40,996,206,316|
|Construction in progress|9,122,852,147|8,467,687,340|
|Engineering material|1,520,320|35,869,033|
|Fixed asset disposal|23,208,206|14,662,233|
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|1,641,585,490|1,665,784,490|
|R & D petrol|220,000||
|Goodwill|27,486,780|27,486,780|
|Long-germ expenses to be amortized|25,421,496|27,007,371|
|Deffered income tax asset|383,354,821|372,553,039|
|Other non-current asset|789,210,132|694,647,533|
|Total of non-current assets|59,268,055,874|59,439,199,236|
|Total of assets|72,817,272,539|71,007,415,323|
|Current liabilities|||
|Short-term loans|10,035,000,000|9,270,000,000|
|Loan from Central Bank|||
|Deposit received and hold for others|||
|Call loan received|||
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial liabilities|||
|Bill payable|379,154,349|297,611,800|
|Account payable|3,445,873,804|2,219,027,261|
|Advance payment|1,012,373|1,938,223|
|Selling of repurchased financial assets|||
|Fees and commissions receivable|||
|Employees’ wage payable|205,323,023|157,738,628|
|Tax payable|545,937,219|277,285,402|
|Interest payable|108,616,102|98,553,104|
|Dividend payable|9,703,930|9,703,930|
|Other account payable|3,877,083,060|3,908,512,671|
|Reinsurance fee payable|||
|Insurance contract provision|||
|Entrusted trading of securities|||
|Entrusted selling of securities|||
|Liabilities held for sales|||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Non-current liability due in 1 year|2,746,720,705|3,012,690,360|
|Other current liability|501,475,694||
|Total of current liability|21,855,900,259|19,253,061,379|
|Non-current liabilities：|||
|Long-term loan|18,349,294,665|19,465,723,869|
|Bond payable|737,132,231|698,168,211|
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|2,025,988,562|1,548,259,241|
|Long-term payable employees’s|||
||76,355,637|91,622,907|
|remuneration|||
|Special payable|82,873,507|64,605,011|
|Expected liabilities|||
|Differed income|140,446,414|142,520,263|
|Differed income tax liability|23,800,387|24,188,860|
|Other non-current liabilities|16,405,569|16,405,569|
|Total non-current liabilities|21,452,296,972|22,051,493,931|
|Total of liability|43,308,197,231|41,304,555,310|
|Owners’ equity|||
|Share capital|5,250,283,986|5,250,283,986|
|Other equity instruments|||
|Including：preferred stock|||
|Sustainable debt|||
|Capital reserves|5,004,250,685|5,004,250,685|
|Less：Shares in stock|||
|Other comprehensive income|90,149,706|137,001,523|
|Special reserves|||
|Surplus reserves|7,834,155,143|7,590,363,724|
|Common risk provision|||
|Undistributed profit|5,498,273,258|5,713,290,735|
|Total of owner’s equity belong to the|||
||23,677,112,778|23,695,190,653|
|parent company|||
|Minority shareholders’ equity|5,831,962,530|6,007,669,360|
|Total of owners’ equity|29,509,075,308|29,702,860,013|
|Total of liabilities and owners’ equity|72,817,272,539|71,007,415,323|

 Legal representative：Wang Jin
Person-in-charge of the accountingwork：Liu Wei
Person-in -charge of the accountingorgan：Meng Fei
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 2. Balance sheet of Parent Company
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Current asset：|||
|Monetary fund|410,194,401|429,724,538|
|Financial assets measured at fair value|||
|with variations accounted into current|||
|income account|||
|Derivative financial assets|||
|Bill receivable|||
|Account receivable|252,706,285|195,462,150|
|Prepayments|57,034,300|57,189,222|
|Interest receivable|2,272,245|1,698,504|
|Dividend receivable|5,536,791|17,536,791|
|Other account receivable|113,693,257|27,984,304|
|Inventories|162,944,786|151,849,683|
|Assets held for sales|||
|Non-current asset due in 1 year|||
|Other current asset|||
|Total of current assets|1,004,382,065|881,445,192|
|Non-current assets：|||
|Disposable financial asset|1,181,164,895|1,243,633,985|
|Expired investment in possess|||
|Long-term receivable|401,460,000|401,460,000|
|Long term share equity investment|23,758,530,989|23,370,412,702|
|Property investment|7,978,840|8,296,639|
|Fixed assets|1,012,466,133|1,054,459,265|
|Construction in progress|65,781,924|49,949,168|
|Engineering material|||
|Fixed asset disposal|362,958||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|86,949,287|88,660,312|
|R & D petrol|||
|Goodwill|||
|Long-germ expenses to be amortized|||
|Differed income tax asset|59,208,834|43,591,562|
|Other non-current asset|356,004,000|356,004,000|
|Total of non-current assets|26,929,907,860|26,616,467,633|
|Total of assets|27,934,289,925|27,497,912,825|
|Current liabilities|||
|Short-term loans|2,330,000,000|1,700,000,000|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial liabilities|||
|Bill payable|||
|Account payable|225,543,595|221,325,935|
|Advance payment|||
|Employees’ wage payable|32,296,362|32,124,015|
|Tax payable|45,771,467|38,907,195|
|Interest payable|4,182,675|49,765,772|
|Dividend payable|9,703,930|9,703,930|
|Other account payable|93,057,916|119,738,967|
|Liabilities held for sales|||
|Non-current liability due in 1 year||1,197,935,476|
|Other current liability|501,475,694||
|Total of current liability|3,242,031,639|3,369,501,290|
|Non-current liabilities：|||
|Long-term loan|1,500,000,000|1,500,000,000|
|Bond payable|38,718,405||
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|||
|Employees’ wage payable|20,030,914|22,265,631|
|Special payable|6,529,402|8,775,514|
|Expected liabilities|||
|Differed income|53,869,596|53,869,596|
|Differed income tax liability|||
|Other non-current liabilities|||
|Total of Non-current liabilities|1,619,148,317|1,584,910,741|
|Total of liability|4,861,179,956|4,954,412,031|
|Owners’ equity|||
|Share capital|5,250,283,986|5,250,283,986|
|Other equity instrument|||
|Including：preferred stock|||
|Sustainable debt|||
|Capital reserves|5,605,794,601|5,605,794,601|
|Less：Shares in stock|||
|Other comprehensive income|90,149,706|137,001,523|
|Special reserves|||
|Surplus reserves|7,834,155,143|7,590,363,724|
|Undistributed profit|4,292,726,533|3,960,056,960|
|Total of owners’ equity|23,073,109,969|22,543,500,794|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Total of liabilities and owners’ equity|27,934,289,925|27,497,912,825|

 3.Consolidated Income statement
In RMB
||||
|-|-|-|
|Item|Report period|Same period of the previous year|
|I. Income from the key business|13,894,985,179|12,385,486,577|
|Incl：Business income|13,894,985,179|12,385,486,577|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|II. Total business cost|13,213,530,804|12,161,604,003|
|Incl：Business cost|12,200,856,427|11,126,689,991|
|Interest expense|||
|Fee and commission paid|||
|Insurance discharge payment|||
|Net claim amount paid|||
|Insurance policy dividend paid|||
|Insurance policy dividend paid|||
|Reinsurance expenses|||
|Business tax and surcharge|99,532,565|108,518,658|
|Sales expense|10,316,130|2,788,458|
|Administrative expense|271,706,884|285,963,326|
|Financial expenses|631,118,798|637,643,570|
|Asset impairment loss|||
|Add：Gains from change of fir value|||
|（“-”for loss）|||
|Investment gain（“-”for loss）|291,018,592|227,542,910|
|Incl: investment gains from affiliates|272,404,985|225,418,910|
|Gains from currency exchange|||
|（“-”for loss）|||
|Assets disposal income|388,507|612,592|
|Other income|17,030,759|7,350,208|
|III. Operational profit（“-”for loss）|989,892,233|459,388,284|
|Add ：Non-operational income|52,608,901|1,934,790|
|Less：Non business expenses|1,814,323|32,918,442|
|IV.Total profit(“-”for loss)|1,040,686,811|428,404,632|
|Less：Income tax expenses|307,767,578|148,691,823|
|V. Net profit|732,919,233|279,712,809|
|1.Net continuing operating profit|732,919,233|279,712,809|
|2.Termination of operating net profit|||
|Net profit attributable to the owners of|||
||448,833,518|128,735,725|
|parent company|||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Minority shareholders’ equity|284,085,715|150,977,084|
|VI. Other comprehensive income|-46,851,817|16,923,651|
|Net of profit of other comprehensive inco|||
|me attributable to owners of the parent co|-46,851,817|16,923,651|
|mpany.|||
|（I）Other comprehensive income items|||
|that will not be reclassified into|||
|gains/losses in the subsequent accounting|||
|period|||
|1.Re-measurement of defined benefit pla|||
|ns of changes in net debt or net assets|||
|2.Other comprehensive income under the|||
|equity method investee can not be reclass|||
|ified into profit or loss.|||
|（II）|||
|Other comprehensive income that will be|-46,851,817|16,923,651|
|reclassified into profit or loss.|||
|1.Other comprehensive income under the|||
|equity method investee can be reclassifie|||
|d into profit or loss.|||
|2.Gains and losses from changes in fair v|||
||-46,851,817|16,923,651|
|alue available for sale financial assets|||
|3.Held-to-maturity investments reclassifi|||
|ed to gains and losses of available for sal|||
|e financial assets|||
|4.The effective portion of cash flow hedg|||
|es and losses|||
|5.Translation differences in currency fina|||
|ncial statements|||
|6.Other|||
|Net of profit of other comprehensive inco|||
|me attributable to Minority shareholders’|||
|equity|||
|VII. Total comprehensive income|686,067,416|296,636,460|
|Total comprehensive income attributable|||
||401,981,701|145,659,376|
|to the owner of the parent company|||
|Total comprehensive income attributable|||
||284,085,715|150,977,084|
|minority shareholders|||
|VIII. Earnings per share|||
|（I）Basic earnings per share|0.0855|0.0245|
|(II)Diluted earnings per share|0.0855|0.0245|

 Legal representative：Wang Jin
Person-in-charge of the accountingwork：Liu Wei
Person-in -charge of the accountingorgan：Meng Fei
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 4. Income statement of the Parent Company
In RMB
||||
|-|-|-|
|Items|Report period|Same period of the previous year|
|I. Income from the key business|1,148,346,022|939,765,302|
|Incl：Business cost|1,083,181,215|887,126,339|
|Business tax and surcharge|4,615,124|4,342,801|
|Sales expense|917,618|4,589|
|Administrative expense|38,461,379|41,977,719|
|Financial expenses|100,072,564|98,104,367|
|Asset impairment loss|||
|Add：Gains from change of fir value|||
|（“-”for loss）|||
|Investment gain（“-”for loss）|1,075,719,889|1,110,477,171|
|Incl: investment gains from affiliates|270,075,688|221,764,316|
|Assets disposal income|-32,933||
|Other income|284,896|1,576,903|
|II. Operational profit（“-”for loss）|997,069,974|1,020,263,561|
|Add ：Non-operational income|127,262|280,853|
|Less：Non business expenses|676,668|195,341|
|III.Total profit(“-”for loss)|996,520,568|1,020,349,073|
|Less：Income tax expenses||-17,582,572|
|IV. Net profit（“-”for net loss）|996,520,568|1,037,931,645|
|1.Net continuing operating profit|996,520,568|1,037,931,645|
|2.Termination of operating net profit|||
|5. After-tax net amount of other misc.|||
||-46,851,818|16,923,651|
|incomes|||
|（I）Other comprehensive income items|||
|that will not be reclassified into|||
|gains/losses in the subsequent|||
|accounting period|||
|1.Re-measurement of defined benefit pl|||
|ans of changes in net debt or net assets|||
|2.Other comprehensive income under th|||
|e equity method investee can not be recl|||
|assified into profit or loss.|||
|（II）|||
|Other comprehensive income that will b|-46,851,818|16,923,651|
|e reclassified into profit or loss.|||
|1.Other comprehensive income under th|||
|e equity method investee can be reclassi|||
|fied into profit or loss.|||
|2.Gains and losses from changes in fair|||
||-46,851,818|16,923,651|
|value available for sale financial assets|||
|3.Held-to-maturity investments reclassif|||
|ied to gains and losses of available for s|||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|ale financial assets|||
|4.The effective portion of cash flow hed|||
|ges and losses|||
|5.Translation differences in currency fin|||
|ancial statements|||
|6.Other|||
|VI. Total comprehensive income|949,668,750|1,054,855,296|
|VII. Earnings per share|||
|（I）Basic earnings per share|0.1898|0.1980|
|(II)Diluted earnings per share|0.1898|0.1980|

 5. Consolidated Cash flow statement
In RMB
||||
|-|-|-|
|Items|Amount in this period|Amount in last period|
|I.Cash flows from operating activities|||
|Cash received from sales of goods or|||
||16,141,817,697|14,454,635,418|
|rending of services|||
|Net increase of customer deposits|||
|and capital kept for brother company|||
|Net increase of loans from central bank|||
|Net increase of inter-bank loans from|||
|other financial bodies|||
|Cash received against original insurance|||
|contract|||
|Net cash received from reinsurance|||
|business|||
|Net increase of client deposit and|||
|investment|||
|Net increase of trade financial asset|||
|disposal|||
|Cash received as interest, processing fee|||
|and commission|||
|Net increase of inter-bank fund received|||
|Net increase of repurchasing business|||
|Tax returned|21,858,952|1,968,626|
|Other cash received from business|||
||214,249,915|107,871,299|
|operation|||
|Sub-total of cash inflow|16,377,926,564|14,564,475,343|
|Cash paid for purchasing of|||
||10,919,230,182|11,194,266,293|
|merchandise and services|||
|Net increase of client trade and advance|||
|Net increase of savings n central bank|||
|and brother company|||
|Cash paid for original contract claim|||
|Cash paid for interest, processing fee|||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|and commission|||
|Cash paid for policy dividend|||
|Cash paid to staffs or paid for staffs|729,285,216|701,259,423|
|Taxes paid|691,950,014|793,835,100|
|Other cash paid for business activities|241,928,444|296,189,243|
|Sub-total of cash outflow from business|||
||12,582,393,856|12,985,550,059|
|activities|||
|Cash flow generated by business|||
||3,795,532,708|1,578,925,284|
|operation, net|||
|II.Cash flow generated by investing|||
|Cash received from investment|||
|retrieving|||
|Cash received as investment gains|165,708,684|120,542,102|
|Net cash retrieved from disposal of|||
|fixed assets, intangible assets, and other|2,295,896|1,073,872|
|long-term assets|||
|Net cash received from disposal of|||
|subsidiaries or other operational units|||
|Other investment-related cash received|||
|Sub-total of cash inflow due to|||
||168,004,580|121,615,974|
|investment activities|||
|Cash paid for construction of|||
|fixed assets, intangible assets|1,769,542,620|1,292,607,275|
|and other long-term assets|||
|Cash paid as investment|98,000,000|157,125,694|
|Net increase of loan against pledge|||
|Net cash received from subsidiaries and|||
|other operational units|||
|Other cash paid for investment|||
|activities|||
|Sub-total of cash outflow due to|||
||1,867,542,620|1,449,732,969|
|investment activities|||
|Net cash flow generated by investment|-1,699,538,040|-1,328,116,995|
|III.Cash flow generated by financing|||
|Cash received as investment|4,000,000|10,500,000|
|Incl: Cash received as investment from|||
||4,000,000|10,500,000|
|minor shareholders|||
|Cash received as loans|7,575,961,501|7,502,176,648|
|Cash received from bond placing|||
|Other financing –related ash received||42,440|
|Sub-total of cash inflow from financing|||
||7,579,961,501|7,512,719,088|
|activities|||
|Cash to repay debts|7,102,027,135|6,449,239,681|
|Cash paid as dividend, profit, or|||
||1,505,845,837|1,596,924,345|
|interests|||
|Incl: Dividend and profit paid by|327,712,545|349,333,461|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|subsidiaries to minor shareholders|||
|Other cash paid for financing activities|136,080,000|5,493,800|
|Sub-total of cash outflow due to|||
||8,743,952,972|8,051,657,826|
|financing activities|||
|Net cash flow generated by financing|-1,163,991,471|-538,938,738|
|IV. Influence of exchange rate|||
||93||
|alternation on cash and cash equivalents|||
|V.Net increase of cash and cash|||
||932,003,290|-288,130,449|
|equivalents|||
|Add: balance of cash and cash|||
||4,996,580,490|5,184,873,650|
|equivalents at the beginning of term|||
|VI ..Balance of cash and cash|||
||5,928,583,780|4,896,743,201|
|equivalents at the end of term|||

6. Cash Flow Statement of the Parent Company
In RMB
||||
|-|-|-|
|Items|Amount in this period|Amount in last period|
|I.Cash flows from operating activities|||
|Cash received from sales of goods or rending|||
||1,280,393,400|1,114,632,756|
|of services|||
|Tax returned||271,389|
|Other cash received from business operation|30,151,895|10,413,502|
|Sub-total of cash inflow|1,310,545,295|1,125,317,647|
|Cash paid for purchasing of merchandise and|||
||1,071,447,386|1,190,011,447|
|services|||
|Cash paid to staffs or paid for staffs|142,438,363|145,782,543|
|Taxes paid|30,081,576|13,903,632|
|Other cash paid for business activities|34,140,083|21,655,404|
|Sub-total of cash outflow from business|||
||1,278,107,408|1,371,353,026|
|activities|||
|Cash flow generated by business operation,|||
||32,437,887|-246,035,379|
|net|||
|II.Cash flow generated by investing|||
|Cash received from investment retrieving|187,920,000|100,000,000|
|Cash received as investment gains|959,750,429|1,001,942,001|
|Net cash retrieved from disposal of fixed|||
|assets, intangible assets, and other long-term|19,137||
|assets|||
|Net cash received from disposal of|||
|subsidiaries or other operational units|||
|Other investment-related cash received|||
|Sub-total of cash inflow due to investment|||
||1,147,689,566|1,101,942,001|
|activities|||
|Cash paid for construction of|||
||57,108,206|57,903,755|
|fixed assets, intangible assets|||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|and other long-term assets|||
|Cash paid as investment|546,000,000|288,602,154|
|Net cash received from subsidiaries and|||
|other operational units|||
|Other cash paid for investment activities|||
|Sub-total of cash outflow due to|||
||603,108,206|346,505,909|
|investment activities|||
|Net cash flow generated by investment|544,581,360|755,436,092|
|III.Cash flow generated by financing|||
|Cash received as investment|||
|Cash received as loans|3,030,805,608|1,901,037,089|
|Cash received from bond placing|||
|Other financing –related ash received||42,440|
|Sub-total of cash inflow from financing|||
||3,030,805,608|1,901,079,529|
|activities|||
|Cash to repay debts|3,059,693,500|1,500,000,000|
|Cash paid as dividend, profit, or interests|567,661,585|565,442,833|
|Other cash paid for financing activities|||
|Sub-total of cash outflow due to financing|||
||3,627,355,085|2,065,442,833|
|activities|||
|Net cash flow generated by financing|-596,549,477|-164,363,304|
|IV. Influence of exchange rate alternation on|||
||93||
|cash and cash equivalents|||
|V.Net increase of cash and cash equivalents|-19,530,137|345,037,409|
|Add: balance of cash and cash equivalents at|||
||429,724,538|326,073,538|
|the beginning of term|||
|VI ..Balance of cash and cash equivalents at|||
||410,194,401|671,110,947|
|the end of term|||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 7. Consolidated Statement on Change inOwners’ Equity
Amount in this period
In RMB
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in this period|||||||||||||
||Owner’s equity Attributable to the Parent Company|||||||||||||
|||Other Equity||||||||||||
|Items||instrusment||||Less:|Other|||Common||Minor|Total of owners’|
|||||||||Specialized|Surplus||Retained|shareholders’||
||Share Capital|preferr|||Capital reserves|Shares in|Comprehensi|||risk|||equity|
||||Sustain|||||reserve|reserves||profits|equity||
|||ed||Other||stock|ve Income|||provision||||
||||able|||||||||||
|||stock||||||||||||
||||debt|||||||||||
|I.Balance at the end of||||||||||||||
||5,250,283,986||||5,004,250,685||137,001,523||7,590,363,724||5,713,290,735|6,007,669,360|29,702,860,013|
|last year||||||||||||||
|Add: Change of||||||||||||||
|accounting policy||||||||||||||
|Correcting of previous||||||||||||||
|errors||||||||||||||
|Merger of entities under||||||||||||||
|common control||||||||||||||
|Other||||||||||||||
|II.Balance at the||||||||||||||
|beginning of current|5,250,283,986||||5,004,250,685||137,001,523||7,590,363,724||5,713,290,735|6,007,669,360|29,702,860,013|
|year||||||||||||||
|III.Changed in the||||||||||||||
||||||||-46,851,817||243,791,419||-215,017,477|-175,706,830|-193,784,705|
|current year||||||||||||||
|（1）Total||||||||||||||
||||||||-46,851,817||||448,833,518|284,085,715|686,067,416|
|comprehensive income||||||||||||||
|（II）Investment or||||||||||||||
|decreasing of capital by|||||||||||-36,857|-132,080,000|-132,116,857|
|owners||||||||||||||
|1．Ordinary Shares inv||||||||||||||
|||||||||||||4,000,000|4,000,000|
|ested by hareholders||||||||||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||||
|-|-|-|-|-|-|-|-|
|2．Holders of other equ||||||||
|ity instruments invested||||||||
|capital||||||||
|3．Amount of shares||||||||
|paid and accounted as||||||||
|owners’ equity||||||||
|4．Other|||||-36,857|-136,080,000|-136,116,857|
|（III）Profit allotment||||243,791,419|-663,814,138|-327,712,545|-747,735,264|
|1.Providing of surplus||||||||
|||||243,791,419|-243,791,419|||
|reserves||||||||
|2.Providing of||||||||
|common risk provisions||||||||
|3．Allotment to the||||||||
||||||-420,022,719|-327,712,545|-747,735,264|
|owners (or shareholders)||||||||
|4．Other||||||||
|(IV) Internal||||||||
|transferring of owners’||||||||
|equity||||||||
|1. Capitalizing of capital||||||||
|reserves (or to capital||||||||
|shares)||||||||
|2. Capitalizing of||||||||
|surplus reserves (or to||||||||
|capital shares)||||||||
|3．Making up losses by||||||||
|surplus reserves.||||||||
|4. Other||||||||
|(VI Special reserves||||||||
|1. Provided this year||||||||
|2．Used this term||||||||
|（VII）Other||||||||
|IV. Balance at the end of|||||||29,509,075,308|
||5,250,283,986|5,004,250,685|90,149,706|7,834,155,143|5,498,273,258|5,831,962,530||
|this term||||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Amount in last year
In RMB
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in last year|||||||||||||
||Owner’s equity Attributable to the Parent Company|||||||||||||
|||Other Equity||||||||||||
|Items||instrusment||||Less:|Other|||Common||Minor|Total of owners’|
|||||||||Specialized|Surplus||Retained|shareholders’||
||Share Capital|preferr|||Capital reserves|Shares in|Comprehensi|||risk|||equity|
||||Sustain|||||reserve|reserves||profits|equity||
|||ed||Other||stock|ve Income|||provision||||
||||able|||||||||||
|||stock||||||||||||
||||debt|||||||||||
|I.Balance at the end of||||||||||||||
||5,250,283,986||||5,003,007,478||145,059,015||6,845,001,818||6,135,494,928|5,957,717,537|29,336,564,762|
|last year||||||||||||||
|Add: Change of||||||||||||||
|accounting policy||||||||||||||
|Correcting of previous||||||||||||||
|errors||||||||||||||
|Merger of entities under||||||||||||||
|common control||||||||||||||
|Other||||||||||||||
|II.Balance at the||||||||||||||
|beginning of current|5,250,283,986||||5,003,007,478||145,059,015||6,845,001,818||6,135,494,928|5,957,717,537|29,336,564,762|
|year||||||||||||||
|III.Changed in the||||||||||||||
||||||42,440||16,923,651||745,361,906||-1,036,648,900|-154,856,378|-429,177,281|
|current year||||||||||||||
|（1）Total||||||||||||||
||||||||16,923,651||||128,735,725|150,977,083|296,636,459|
|comprehensive income||||||||||||||
|（II）Investment or||||||||||||||
|decreasing of capital by|||||42,440|||||||43,500,000|43,542,440|
|owners||||||||||||||
|1．Ordinary Shares inv||||||||||||||
|||||||||||||43,500,000|43,500,000|
|ested by hareholders||||||||||||||
|2．Holders of other equ||||||||||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||||
|-|-|-|-|-|-|-|-|
|ity instruments invested||||||||
|capital||||||||
|3．Allotment to the||||||||
|owners (or shareholders)||||||||
|4．Other||42,440|||||42,440|
|(IV) Internal||||||||
|transferring of owners’||||745,361,906|-1,165,384,625|-349,333,461|-769,356,180|
|equity||||||||
|1. Capitalizing of capital||||||||
|reserves (or to capital||||745,361,906|-745,361,906|||
|shares)||||||||
|2. Capitalizing of||||||||
|surplus reserves (or to||||||||
|capital shares)||||||||
|3．Making up losses by||||||||
||||||-420,022,719|-349,333,461|-769,356,180|
|surplus reserves.||||||||
|4. Other||||||||
|(VI )Special reserves||||||||
|1. Provided this year||||||||
|2．Used this term||||||||
|（VII）Other||||||||
|IV. Balance at the end of||||||||
|this term||||||||
|(V) Special reserves||||||||
|1. Provided this year||||||||
|2．Used this term||||||||
|（VI）Other||||||||
|IV. Balance at the end of||||||||
||5,250,283,986|5,003,049,918|161,982,666|7,590,363,724|5,098,846,028|5,802,861,159|28,907,387,481|
|this term||||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 8.Statement of change inowner’s Equity of the Parent Company
Amount in this period
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in this period|||||||||||
|||Other Equity instrument||||||||||
||||||||Other|||||
|Items||||||Less: Shares||Specialize|Surplus|Retained|Total of owners’|
||Share Capital|preferred|||Capital reserves||Comprehensive|||||
||||Sustainable|Other||in stock||d reserve|reserves|profits|equity|
|||stock|||||Income|||||
||||debt|||||||||
|I.Balance at the end of last||||||||||||
||5,250,283,986||||5,605,794,601||137,001,523||7,590,363,724|3,960,056,960|22,543,500,794|
|year||||||||||||
|Add: Change of accounting||||||||||||
|policy||||||||||||
|Correcting of previous errors||||||||||||
|Other||||||||||||
|II.Balance at the beginning||||||||||||
||5,250,283,986||||5,605,794,601||137,001,523||7,590,363,724|3,960,056,960|22,543,500,794|
|of current year||||||||||||
|III.Changed in the current||||||||||||
||||||||-46,851,817||243,791,419|332,669,573|529,609,175|
|year||||||||||||
|（I）Total comprehensive||||||||||||
||||||||-46,851,817|||996,520,568|949,668,751|
|income||||||||||||
|(II) Investment or decreasing||||||||||||
|||||||||||-36,857|-36,857|
|of capital by owners||||||||||||
|1．Ordinary Shares invested||||||||||||
|by hareholders||||||||||||
|2．Holders of other equity in||||||||||||
|struments invested capital||||||||||||
|3.Amount of shares paid and||||||||||||
|accounted as owners’ equity||||||||||||
|4．Other||||||||||-36,857|-36,857|
|（III）Profit allotment|||||||||243,791,419|-663,814,138|-420,022,719|
|1.Providing of surplus|||||||||243,791,419|-243,791,419||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||
|-|-|-|-|-|-|-|
|reserves|||||||
|2．Allotment to the owners|||||||
||||||-420,022,719|-420,022,719|
|(or shareholders)|||||||
|3．Other|||||||
|(IV)Internal transferring of|||||||
|owners’ equity|||||||
|1. Capitalizing of capital|||||||
|reserves (or to capital shares)|||||||
|2. Capitalizing of surplus|||||||
|reserves (or to capital shares)|||||||
|3．Making up losses by|||||||
|surplus reserves.|||||||
|4. Other|||||||
|(V) Special reserves|||||||
|1. Provided this year|||||||
|2．Used this term|||||||
|（VI）Other|||||||
|IV. Balance at the end of this||||||23,073,109,969|
||5,250,283,986|5,605,794,601|90,149,706|7,834,155,143|4,292,726,533||
|term|||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Amount in last year
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in last year|||||||||||
|||Other Equity instrusment||||||||||
||||||||Other|||||
|Items||||||Less: Shares||Specialize|Surplus|Retained|Total of owners’|
||Share Capital|preferred|||Capital reserves||Comprehensiv|||||
||||Sustainable|Other||in stock||d reserve|reserves|profits|equity|
|||stock|||||e Income|||||
||||debt|||||||||
|I.Balance at the end of last||||||||||||
||5,250,283,986||||5,605,752,163||145,059,015||6,845,001,818|4,428,894,674|22,274,991,656|
|year||||||||||||
|Add: Change of accounting||||||||||||
|policy||||||||||||
|Correcting of previous errors||||||||||||
|Other||||||||||||
|II.Balance at the beginning||||||||||||
||5,250,283,986||||5,605,752,163||145,059,015||6,845,001,818|4,428,894,674|22,274,991,656|
|of current year||||||||||||
|III.Changed in the current||||||||||||
||||||42,440||16,923,651||745,361,906|-127,452,980|634,875,017|
|year||||||||||||
|（I）Total comprehensive||||||||||||
||||||||16,923,651|||1,037,931,645|1,054,855,296|
|income||||||||||||
|(II) Investment or decreasing||||||||||||
||||||42,440||||||42,440|
|of capital by owners||||||||||||
|1．Ordinary Shares invested||||||||||||
|by hareholders||||||||||||
|2．Holders of other equity in||||||||||||
|struments invested capital||||||||||||
|3.Amount of shares paid and||||||||||||
|accounted as owners’ equity||||||||||||
|4．Other|||||42,440||||||42,440|
|（III）Profit allotment|||||||||745,361,906|-1,165,384,625|-420,022,719|
|1.Providing of surplus||||||||||||
||||||||||745,361,906|-745,361,906||
|reserves||||||||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||
|-|-|-|-|-|-|-|
|2．Allotment to the owners|||||||
||||||-420,022,719|-420,022,719|
|(or shareholders)|||||||
|3．Other|||||||
|(IV)Internal transferring of|||||||
|owners’ equity|||||||
|1. Capitalizing of capital|||||||
|reserves (or to capital shares)|||||||
|2. Capitalizing of surplus|||||||
|reserves (or to capital shares)|||||||
|3．Making up losses by|||||||
|surplus reserves.|||||||
|4. Other|||||||
|(V) Special reserves|||||||
|1. Provided this year|||||||
|2．Used this term|||||||
|（VI）Other|||||||
|IV. Balance at the end of this|||||||
||5,250,283,986|5,605,794,603|161,982,666|7,590,363,724|4,301,441,694|22,909,866,673|
|term|||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018III．Basic Information of the Company
Guangdong Electric Power Development Co., Ltd. (the “Company”) is a limited liability company jointly established by Guangdong Electric Power Holding Company, China Construction Bank Guangdong Province Trust Investment Company, Guangdong Power Development Co., Ltd, Guangdong International Trust, China Guangfa Bank(now named as Guangdong Province Guangkong Group Co., Ltd.). The address of theCompany’s registered office and head office isF33~F36 South Tower Building of Yudean Square on 2nd Tianhe East Road, Guangzhou City, Guangdong Province, thePeople’s Republic of China. TheCompany’s parent company is Guangdong Province Yudean Group Co., Ltd. (“Yudean”) , The actual controller of the company is the State-owned Assets Supervision and Administration Commission of thePeople’s Government of Guangdong Province.
TheCompany’s issuing RMB ordinary shares (“A-share”) and domestic listed foreign shares (“B-share”) are listed for transactions in Shenzhen Stock Exchange respectively on 26 November 1993 and 28 June 1995. As at 31 December 2016, the total share capital of the Company is RMB 5,250,283,986 with par value of RMB 1 each. The financial statement has been approved for issue by theCompany’s Board of Directors on 29 August 2018. The Company and its subsidiaries (hereinafter collectively referred to as the “Group”) are principally engaged in the development and operation of power plants in Guangdong Province, Yunnan Province, Hunan Province and Guangxi Zhuang Autonomous Region.
For the Consolidation scope changed of the Group, please refer to VIII.
For the information of subsidiaries of the Company, please refer to Note IX.
IV.Basis for the preparation of financial statements
1.Basis for the preparation
The financial statements are prepared in accordance with the Accounting Standard for Business Enterprises - Basic Standard, and the specific accounting standards and other relevant regulations issued by the Ministry of Finance on 15 February 2006 and in subsequent periods (hereafter collectively referred to as “the Accounting Standard for Business Enterprises” or “CAS”), and “Information Disclosure Rule No. 15 for Companies with Public Traded Securities - Financial Reporting General Provision” issued by China Security Regulatory Commission.
2. Continuous operation.
The Company since 12 months after the reporting period does not exist on the company's continued viability of si gnificant concern events or circumstances.
V. Significant accounting policies and accounting estimates
Specific accounting policies and accounting estimates tips:
The Group continually evaluates the critical accounting estimates and key judgements applied based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The critical accounting estimates and key assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next accounting year are outlined below:
(a) Estimates on impairment of other long-term assets
Fixed assets, construction in progress, intangible assets with finite useful lives, investment properties that are measured at cost and long-term equity investments in subsidiaries, joint ventures and associates are tested for impairment ifthere’s indications that the assets may be impaired the balance sheet date.
When assessing whetherthere’s indication that the above assets are impaired, management mainly evaluate and analyse: (1) whether events affecting asset impairment occurred; (2) whether the present value of expected cash flows arising from the continuing use or disposal of the asset is lower than its carrying amount; (3) whether the
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 assumptions used in estimating the present value of future cash flows is appropriate.
Relevant assumptions adopted by the Group to determine impairment, e.g. changes in assumptions on discount rate and growth rate used to calculate the present value of future cash flows may have material impact on the present value used in the impairment test, and cause impairment in the above-mentioned long-term assets of the Group.
(b) Enterprise income tax
The Group pays corporate income tax in many areas. In normal business activities,, there are uncertainties in the final tax treatment of partial transactions and matters. When counting and drawing the income tax costs in various areas, the Group needs to make a major judgement. If there is any difference between the final determination of these tax matters and the amount originally recorded, the difference will have an impact on the amount of the income tax expenses and the deferred income tax during the period of final determination above. (c) Deferred tax assets
Whether to confirm the assets of the deferred income tax assets arising from deductible losses and deductible temporary differences largely depends on themanagement’s judgement that whether to acquire sufficient amount of income of future taxable which can be used to deduct deductible losses and deductible temporary differences in the future period, while the calculation of this amount of income of future taxable needs applying plenty of judgement and estimation, and it needs combined consideration for the tax planning strategy and the influence from the overall economic environment in the meanwhile. Different judgement and estimation will have an impact on the confirmation and the amount of the deferred income tax assets.
When assessing whether there will be sufficient future taxable profits available against which the deductible temporary differences can be utilised, the Group recognises deferred tax assets to the extent that it is probable that future taxable profits will be available against which the deductible temporary differences can be utilised, using tax rates that would apply in the period when the asset would be utilised. In determining the amount of deferred tax assets, the Group exercises judgements about the estimated timing and amount of taxable profits of the following periods, and of the tax rates applicable in the future according to the existing tax policies and other relevant regulations. Differences between such estimates and the actual timing and amount of future taxable profits will affect the amount of deferred tax assets.
1.Complying with the statements in Accounting Standards for Business Enterprises
The financial Report and statements are prepared with compliance to the requirement of the Enterprise Accounting Standard. They reflect the financial position as of June 30, 2018 as well as the business performance and cash flow situation in the first half of 2018 of the Company frankly and completely.
2. Accounting period
Fiscal year is dated from Gregorian calendar Jan., 1 to Gregorian calendar Decmber., 31. The accounting of the financial statements during the period starts from January 1, 2018 to 6 months ended June 3 0,2018.
3.Business cycle
TheCompany’s normal business cycle is the period from the acquisition of assets such as those for the generation of electricity to the realisation of cash or cash equivalents.The business cycles for principal activities are usually less than 12 months.
4. Functional currency
TheCompany’s functional currency is Renminbi and these financial statements are presented in Renminbi. 5. Accounting process method of enterprise consolidation under same and different controlling.
(1) Business combinations involving enterprises under common control
The consideration the combining party paid for the combination and the carrying amount of the net assets obtained are measured at carrying amount. The difference between the carrying amount of the net assets obtained and the carrying amount of consideration paid for the combination is adjusted to share premium (capital premium) in the capital reserve. If the balance of share premium (capital premium) is insufficient, any excess is adjusted to
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 retained earnings. Any costs directly attributable to the combination are recognized in profit or loss for the current period when occurred. The transaction costs of issuing equity or debt securities for business combinations. (2) Business combinations not involving enterprises under common control
Theacquirer’s combining costs and the identifiable net assets obtained at the acquisition date are measured at fair value. If the combining costs are greater than the fair value of identifiable net assets at the acquisition date, the difference is recognized as goodwill; if the combining costs are less than the fair value of identifiable net assets at the acquisition date, the difference is recognized in profit or loss for the current period. The direct acquisition-related costs arising from the business combination are recognized as expenses in the periods in which the costs are incurred. The costs of the issuance of equity or debt securities as a part of the consideration paid for the acquisition are included as a part of initial recognition amount of the equity or debt securities.
6.Preparation of the consolidated financial statements
The consolidated financial statements comprise the financial statements of the Company and all of its subsidiaries. Subsidiaries are consolidated from the date on which the Group obtains control and are de-consolidated from the date that such control ceases. For a subsidiary that is acquired in a business combination involving enterprises under common control, it is included in the consolidated financial statements from the date when it, together with the Company, comes under common control of the ultimate controlling party. The portion of the net profits realised before the combination date is presented separately in the consolidated income statement.
In the preparation of consolidated financial statements, if the accounting policies or accounting period among the Company and subsidiaries are inconsistent, the financial statements of subsidiaries have been adjusted to conform to theCompany’s policies and accounting period. For business combination not obtained under common control, the financial statements have been adjusted based on the fair value of net recognisable asset on the acquisition date.
All significant intra-group balances, transactions and unrealised profits are eliminated in the consolidated financial statements. The portion ofsubsidiaries’owners’ equity and the portion ofsubsidiaries’ net profits and losses and comprehensive incomes for the period not attributable to the Company are recognised as minority interests, net profit attributed to minority interests and total comprehensive incomes attributed to minority interests and presented separately in the consolidated financial statements underowners’ equity, net profits and total comprehensive income respectively. When the Company sells assets to subsidiaries, the unrealised gains and losses should fully offset the net profit attributed to shareholders of the parent company; when subsidiaries sell assets to the Company, the unrealised gains and losses should be assigned and offset between the net profit attributed to shareholders of the parent company and minority interests according to theCompany’s distribution ratio of the subsidiary. The unrealised gains and losses between subsidiaries should be assigned and offset between the net profit attributed to shareholders of the parent company and minority interests according to the parentcompany’s distribution ratio of the subsidiary.
In preparing the consolidated financial statements, where the accounting policies and the accounting periods of the Company and subsidiaries are inconsistent, the financial statements of the subsidiaries are adjusted in accordance with the accounting policies and the accounting period of the Company. For subsidiaries acquired from business combinations involving enterprises not under common control, the individual financial statements of the subsidiaries are adjusted based on the fair value of the identifiable net assets at the acquisition date.
7. The joint-venture arrangement classification and pooling of interests accounting processing methods
The joint-venture arrangement comprises the pooling of interests and joint-venture enterprise. The pooling of interests is the joint-venture arrangement where the participant possesses the relevant assets arranged and will undertake relevant debts. The joint venture enterprise is the arrangement where the participant only reserves rights on the net assets. The Group, based on the rights and obligations in the normal operation of the joint-venture arrangement, determines the classes of the joint-venture arrangement. And it also takes account of the structure and legal form of the joint-venture arrangement, the agreed terms and conditions, other relevant facts and conditions, etc. among the joint-venture arrangement upon evaluation of rights and obligations.
The Group determines the following projects sharing interests in the pooling of interests and conducts the accounting processing based on relevant accounting standards for business enterprises:
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 (I) determining assets possessed solely and the jointly-possessed assets based on its share;
(II) determining debts undertaken solely and the shared debts based on its share;
(III) determining the revenues produced by the pooling of interests owned by the on-sale group;
(IV) determining the revenues produced by the pooling of interests through sale based on the group share; (V) determining the fees occurred solely and those of the pooling of interests based on the its share.
If the Group invests or sells the assets, etc. to the pooling of interests (except for the business constituted by the assets), it will only ascertain the partial profits and losses produced by such trade and attributable to the other participants of the pooling of interests before selling such assets, etc. to any third party. If the invested or sold assets have the impairment losses per Accounting Standards for Business Enterprises No. 8 - Assets Impairment, the group will ascertain such losses wholly.
If the Group purchases the assets, etc. from the pooling of interests (except for the business constituted by the assets), it will only ascertain the partial profits and losses produced by such trade and attributable to the other participants of the pooling of interests before selling such assets, etc. to any third party. If the purchased assets have the impairment losses per Accounting Standards for Business Enterprises No. 8 - Assets Impairment, the group will ascertain such losses wholly based on its share.
8.Cash and cash equivalents
Cash and cash equivalents comprise cash on hand, demand deposits, and short-term, highly liquid investments, which are readily convertible into known amounts of cash and are subject to an insignificant risk of change in value.
9.Foreign currency transactions
Foreign currency transactions are translated into recording currency using the exchange rates prevailing at the dates of the transactions. At the balance sheet date, monetary items denominated in foreign currencies are translated into RMB using the spot exchange rates on the balance sheet date. Exchange differences arising from these translations are recognised in profit or loss for the current period, except for those attributable to foreign currency borrowings that have been taken out specifically for acquisition or construction of qualifying assets, which are capitalised as part of the cost of those assets. Non-monetary items denominated in foreign currencies that are measured at historical costs are translated at the balance sheet date using the spot exchange rates at the date of the transactions. The effect of exchange rate changes on cash is presented separately in the cash flow statement.
Notes： Methods to be explained: the determination method of the converted exchange rate when foreign currency transactions occur, the conversion method of the monetary items of foreign currency adopted on the balance sheet date, the method of dealing with exchange gains and losses, and the accounting method of converting foreign currency statements.
10. Financial instruments
(a) Financial assets
(i) Classification of financial assets
Financial assets are classified into the following categories at initial recognition: financial assets at fair value through profit or loss, receivables, available-for-sale financial assets and held-to-maturity investments. The classification of financial assets depends on theGroup’s intention and ability to hold the financial assets. The financial assets of the Group in current year include receivables and available-for-sale financial assets.
Receivables
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market.
Available-for-sale financial assets
Available-for-sale financial assets include non-derivative financial assets that are designated upon initial
recognition as available for sale and other financial assets which do not fall into any of the above categories. (ii) Recognition and measurement
Financial assets are recognized at fair value on the balance sheet when the Group becomes a party to the contractual provisions of the financial instrument. In the case of financial assets at fair value through profit or loss, the related transaction costs occurred at the time of acquisition is recognized in profit or loss for the current period. For other financial assets, transaction costs that are attributable to the acquisition of the financial assets are included in their initial recognition amounts.
Financial assets at fair value through profit or loss and available-for-sale financial assets are subsequently measured at fair value. Investments in equity instruments are measured at cost when they do not have a quoted market price in an active market and whose fair value cannot be reliably measured. Receivables are measured at amortized cost using the effective interest method.
Gain or loss arising from a change in fair value of an available-for-sale financial asset is recognized directly in equity, except for impairment losses and foreign exchange gains and losses arising from the translation of monetary financial assets. When such financial asset is derecognized, the cumulative gain or loss previously recognized directly in equity is recycled into profit or loss for the current period.
The Group assesses the carrying amount of financial assets other than those at fair value through profit or loss at each balance sheet date. If there is objective evidence that the financial asset is impaired, an impairment loss is provided for.
Objective evidence indicating impairment of financial assets refers to the matter that actually occurs after the initial recognition of financial assets, it will affect estimated future cash flows of financial assets, and its impact can be reliably measured.
(iii) Impairment of financial assets
The objective evidence, of which provided for available-for-sale equity instruments being impaired, includes an investment in an equity instrument with serious or prolonged decline.
The Group assesses available-for-sale equity instruments at each balance sheet date on an individual basis. If the fair value of equity instruments is less than its initial investment cost of more than50% (inclusive), or less than its initial investment cost for more than one year (inclusive), it indicates that the equity instruments are impaired. If the fair value of equity instruments is less than its initial investment cost of more than20% ( inclusive) to50% (exclusive), the Group will consider other relevant factors to judge that whether equity instruments are impaired. The Group calculates the initial investment cost of initial available-for-sale equity instruments investment using the weighted average method.
When an impairment loss on a financial asset carried at amortised cost has incurred, the amount of loss is measured at the difference between theasset’s carrying amount and the present value of estimated future cash flows (excluding future credit losses not incurred). If there is objective evidence that the value of the financial asset is recovered and the recovery is related objectively to an event after the impairment is recognised, the previously recognised impairment loss is reversed and the amount of reversal is recorded in profit or loss.
When an impairment loss on an available-for-sale financial asset has incurred, the difference between the present value of the discounted cash flow of its book value and market return on a similar financial asset is recognised as impairment loss, and recorded in current profit or loss. Recognised impairment loss cannot be reversed in subsequent periods.
(iv) Derecognition of financial assets
A financial asset is derecognised when any of the below criteria is met: (i) the contractual rights to receive the cash flows from the financial asset expire; (ii) the financial asset has been transferred and the Group transfers substantially all the risks and rewards of ownership of the financial asset to the transferee; or (iii) the financial asset has been transferred and the Group has not retained control of the financial asset, although the Group neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset.
On derecognition of a financial asset, the difference between the carrying amount and the sum of the consideration
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 received and the cumulative changes in fair value that have been recognised directly in equity, is recognised in profit or loss
(b) Financial liabilities
Financial liabilities are classified into the following categories at initial recognition: financial liabilities at fair value through profit or loss and other financial liabilities. The financial liabilities of the Group are other comprise financial liabilities, including payables, borrowings and debentures payable.
Payables, including accounts payable and other payables, are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.
Borrowings and bonds payable are recognised initially at fair value, net of transaction costs incurred, and subsequently measured at amortised cost using the effective interest method.
Other financial liabilities with maturities no more than one year (inclusive) are classified as current liabilities. Other financial liabilities with maturities over one year (inclusive) but are due within one year since the balance sheet date are classified as the current portion of non-current liabilities. Others are classified as non-current liabilities.
A financial liability is derecognised or partly derecognised when the current obligation is discharged or partly discharged. The difference between the carrying amount of the financial liability or the derecognised part of the financial liability and the consideration paid is recognised in profit or loss.
(c) Determination of the fair value of the financial instruments
The fair value of a financial instrument that is traded in an active market is determined at the quoted price in the active market. The fair value of a financial instrument that is not traded in an active market is determined by using a valuation technique. Valuation techniques include using prices of recent market transactions between knowledgeable and willing parties, reference to the current fair value of another financial asset that is substantially the same with this instrument, and discounted cash flow analysis, etc. When a valuation technique is used to establish the fair value of a financial instrument, it makes the maximum use of observable market inputs and relies as little as possible on entity-specific inputs. When the observable inputs are not available or are unrealistic to obtained, unobservable inputs shall be used
Notes: Methods to be explained: the determination method of the converted exchange rate when foreign currency transactions occur, the conversion method of the monetary items of foreign currency adopted on the balance sheet date, the method of dealing with exchange gains and losses, and the accounting method of converting foreign currency statements.
11.Account receivable
（1）Bad debt provision on receivable accounts with major amount individually
|||
|-|-|
||The top five accounts receivable in amount, any other receivables|
|Criteria and norm of individual significance|with an individual amount more than RMB 5,000,000, and all|
||long-term receivables|
||Separate impairment test. If there exists objective evidence that|
|Measurement of impairment allowances for receivables of|the Group will not be able to collect the amount under the|
|individual significance|original terms, a provision for impairment of that receivable is|
||made.|

(2)The accounts receivable of bad debt provisions made by credit risk Group
|||
|-|-|
|Name|Method|

In Group ,Accounts on age basis in theportfolio：
□ Applicable√ Not applicable
In Group, adopting balance percentage method for bad debtprovision：
□ Applicable√ Not applicable
In Group ,adopting other method for bad debtprovision：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018□ Applicable√ Not applicable
(3) Accounts receivable that are individually insignificant but with bad debt provision provided on an
individual basis
|||
|-|-|
||When objective evidence indicates the Group can’t receive money|
|Reason for separate provision for bad debts||
||according originalterms, provision for bad debts recognized.|
||The bad debt will be recognized when the present value of estimated|
|Method of provision for bad debts||
||future cash flow below their book value.|

12. Inventories
Whether the company needs to comply with the disclosure requirements of the particular industry
No
(a) Classification
Inventories include fuel and spare parts measured at the lower of cost and net realisable value..
(b) Cost of inventories transferred out
Cost of fuel transferred out is calculated using the weighted average method. Spare parts are amortised in full when received for use.
(c) Basis for determining the net realisable value of inventories and provisioning methods for decline in value of inventories
Any excess of the cost over the net realisable value of inventories is recognised as a provision for diminution in the value of inventories. Net realisable value is measured by the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale and relevant taxes.
(d) The Group maintains a perpetual inventory system..
13. Divided as assets held for sale
The non-liquid assets or the treatment group complied with the following conditions will be classified into the possessed assets for sale: (I) the non-liquid assets or the treatment group is ready for sale subject to the common terms and conditions for such assets or the treatment group under the current conditions; (II) the group has already made a resolution on treatment of such non-liquid assets or the treatment group and obtained proper approval; (III) the Group has already concluded an irrevocable transfer agreement with the assignee; (IV) such transfer will be completed within one year.
The non-liquid assets complied with the conditions for the possessed assets for sale (excluding the financial assets, the investment real estate calculated based on its fair value and the deferred income tax assets) will be the lower amount between the book value and the fair value minus the treatment cost. If the fair value minus the treatment cost is lower than the original book value, then it will be deemed as the asset deprecation loss.
The non-liquid assets classified into the processed assets ready for sale and the assets and debts in the treatment group comprise the liquid assets and liquid debts to be listed separately in the balance sheet.
14. Long-term equity investments
Long-term equity investments comprise theCompany’s long-term equity investments in its subsidiaries and theGroup’s long-term equity investments in its associates.
Subsidiaries are the investees over which the Company is able to exercise control. Associates are the investees over which the Group has significant influence, but not control, on their financial and operating policies.
Investments in subsidiaries are presented in theCompany’s financial statements using the cost method, and are
adjusted to the equity method when preparing the consolidated financial statements. Investments in associates are
accounted for using the equity method.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 (a) Determination of investment cost
For long-term equity investments acquired through a business combination: for long-term equity investments acquired through a business combination involving enterprises under common control, the investment cost shall be the absorbingparty’s share of the carrying amount ofowners’ equity of the party being absorbed at the combination date; for long-term equity investment acquired through a business combination involving enterprises not under common control, the investment cost shall be the combination cost. For long-term equity investments acquired not through a business combination: if the long-term equity investments are acquired in cash, the initial investment cost shall be the purchase price actually paid; if the long-term equity investments are acquired by issuing equity securities, the initial investment cost shall be the fair value of the equity securities.
(b) Subsequent measurement and recognition of related profit and loss
For long-term equity investments accounted for using the cost method, they are measured at the initial investment costs, and cash dividends or profit distribution declared by the investees are recognised as investment income in profit or loss.
For long-term equity investments accounted for using the equity method, where the initial investment cost exceeds theGroup’s share of the fair value of theinvestee’s identifiable net assets at the time of acquisition, the investment is initially measured at cost. Where the initial investment cost is less than theGroup’s share of the fair value of theinvestee’s identifiable net assets at the time of acquisition, the difference is included in profit or loss for the current period and the cost of the long-term equity investment is adjusted accordingly.
For long-term equity investments accounted for using the equity method, the Group recognises the investment income or losses according to its share of net profit or loss of the investee. The Group discontinues recognising its share of net losses of an investee after the carrying amount of the long-term equity investment together with any long-term interests that, in substance, form part of theinvestor’s net investment in the investee are reduced to zero. However, if the Group has obligations for additional losses and the criteria with respect to recognition of provisions under the accounting standards on contingencies are satisfied, the Group continues recognising the investment losses and the provisions. The Company shall adjust the carrying amount of the long term investment for other changes inshareholders’ equity of the investee (other than net profits or losses), and include the corresponding adjustment inshareholders’ equity. The carrying amount of the investment is reduced by theGroup’s share of the profit distribution or cash dividends declared by an investee. The unrealised profits or losses arising from the intra-group transactions amongst the Group and its investees are eliminated in proportion to theGroup’s equity interest in the investees, and then based on which the investment gains or losses are recognised. For the loss on the intra-group transaction amongst the Group and its investees attributable to asset impairment, any unrealised loss is not eliminated.
(c) Basis for determining existence of control and significant influence over investees
Control is the power to govern the investee so as to obtain variable returns by participating in the related business activities of the investees and the ability to affect the returns by exercising its power over the investees.
Joint control is the contractually agreed sharing of control over aninvestee’s economic activities, and exists only when the strategic financial and operating decisions relating to the activities require the unanimous consent of the Group and the parties sharing the control.
Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies.
(d) Impairment of long-term equity invest
The carrying amount of long-term equity investments in subsidiaries, joint venture, and associates is reduced to the recoverable amount when the recoverable amount is less than the carrying amount
15. Investment properties
The measurement mode of investment property
The measurement by the cost method
Depreciation or amortization method
Investment properties, including land use rights that have already been leased out and buildings that are held for the purpose of leasing are measured initially at cost. Subsequent expenditures incurred in relation to an investment
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 properties are included in the cost of the investment property when it is probable that the associated economic benefits will flow to the Group and their costs can be reliably measured; otherwise, the expenditures are recognised in profit or loss in the period in which they are incurred.
The Group adopts the cost model for subsequent measurement of investment properties. Buildings and land use rights are depreciated or amortised to their estimated net residual values over their estimated useful lives. The estimated useful lives, the estimated net residual values that are expressed as a percentage of cost and the annual depreciation (amortisation) rates of investment properties are as follows:
Estimated useful lives Estimated net residual value Annual depreciation rates Building 30 years5%3.17% When an investment property is transferred to owner-occupied properties, it is reclassified as fixed asset at the date of the transfer. The carrying amount of the fixed asset shall be measured on the basis of fair value of the investment property.
The investmentproperty’s estimated useful life, net residual value and depreciation (amortisation) method applied are reviewed and adjusted as appropriate at each year-end.
An investment property is derecognised on disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from its disposal. The net amount of proceeds from sale, transfer, retirement or damage of an investment property after its carrying amount and related taxes and expenses is recognised in profit or loss for the current period.
16. Fixed assets
（1）Recognition of fixed assets
Fixed assets comprise plant and building, power generator equipment, motor vehicles and other equipment. Fixed asset is recognised when it is probable that the related economic benefits will flow to the Group and its cost can be reliably measured. Fixed assets purchased or constructed by the Group are initially measured at cost at the acquisition date. The fixed assets injected by the state-owned shareholder during the restructuring of corporation were initially recorded at the valuated amount approved by the relevant authorities managing state-owned assets. Subsequent expenditures incurred for a fixed asset are included in the cost of the fixed asset when it is probable that the economic benefits associated with the fixed asset will flow to the Group and the costs can be reliably measured. The carrying amount of those parts that are replaced is derecognised and all the other subsequent expenditures are recognised in income statement when they are incurred.
（2）Depreciation of fixed assets
||||||
|-|-|-|-|-|
||The method for|Expected useful life|||
|Category|||Estimated residual value|Depreciation|
||depreciation|（Year）|||
|House and building|Straight-line method|10-50 years|0% - 5%|1.90% - 10 %|
||Straight-line method||||
|Generation equipment||5-31 years|0% - 5%|3.06% - 20 %|
|Transportation|Straight-line method||||
|||5-10 years|0% - 5%|9.50% - 20 %|
|equipment|||||
|Other equipment|Straight-line method|5-25 years|0% - 5%|3.80% - 20 %|

(3)Cognizance evidence and pricing method of financial leasing fixed assets
The lease that essentially transfers all the risks and returns related to the ownership of the asset is classified as finance lease. The entry value of the fixed assets under finance lease the lower of its fair value and the present value of the minimum lease payments. The difference between the entry value of the fixed asset under finance lease and the present value of the minimum lease payment is recognised as unrecognised financing charges. Fixed assets under finance lease share the same depreciation method with company owned fixed assets. If there is reasonable certainty that the Group will obtain ownership of a leased asset at the end of the lease term, the leased asset is depreciated over its estimated useful life. Otherwise, the leased asset is depreciated over the shorter of the
lease term and its estimated useful life.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 17.Construction in progress
Construction in progress is measured at its actual costs incurred. Actual costs include construction cost, installation cost, capitalised borrowing costs, and any other costs directly attributable to bringing the asset to working condition for its intended use. When the construction in progress is ready for its intended use, it is transferred to fixed assets and starts depreciation the following month. When recoverable amount of the construction in progress is lower than its carrying value, its carrying value is then reduced to the recoverable amount.
18.Borrowing costs
The borrowing costs that are directly attributable to the acquisition and construction of a fixed asset that needs a substantially long period of time of acquisition and construction for its intended use commence to be capitalised and recorded as part of the cost of the asset when expenditures for the asset and borrowing costs have been incurred, and the activities relating to the acquisition and construction that are necessary to prepare the asset for its intended use have commenced. The capitalisation of borrowing costs ceases when the asset under acquisition or construction becomes ready for its intended use, the borrowing costs incurred thereafter are recognised in income statement. Capitalisation of borrowing costs is suspended when the acquisition or construction of a fixed asset is interrupted abnormally and the interruption lasts for more than 3 months, until the acquisition or construction is resumed.
For the specific borrowings obtained for the acquisition or construction of a fixed asset qualifying for capitalisation, the amount of borrowing costs eligible for capitalisation is determined by deducting any interest income earned from depositing the unused specific borrowings in the banks or any investment income arising on the temporary investment of those borrowings during the capitalisation period.
For the general borrowings obtained for the acquisition or construction of a fixed asset qualifying for capitalisation, the amount of borrowing costs eligible for capitalisation is determined by applying the weighted average effective interest rate of general borrowings, to the weighted average of the excess amount of cumulative expenditures on the asset over the amount of specific borrowings. The effective interest rate is the rate at which the estimated future cash flows during the period of expected duration of the borrowings or applicable shorter period are discounted to the initial amount of the borrowings.
19.Biological Assets
20.Oil& Gas assets
21.Intangible assets
1. Valuation Method, Service Life and Impairment Test of Intangible Assets
Intangible assets mainly including land use rights, sea use rights, software, associated projects for electricity transmission and transformation, microwave engineering and transportation engineering are measured at cost. Intangible assets contributed by the state-owned shareholders at the incorporation of a limited company are initially recorded at the valuation amount recognised by the state-owned assets supervision and administration department.
(a) Land use right and sea use right
Land use rights are amortised on a straight-line basis over their approved period of 20 to 70 years. If the purchase costs of land and attached buildings cannot be reasonably allocated between the land use right and the buildings, the purchase costs are recognised as fixed assets.
(a)Associated projects for electricity transmission and transformation, microwave engineering and transportation engineering
Projects for electricity transmission and transformation and microwave engineering are undertaken by the Group for the grid connection project for loading to Guangdong Guangdian Power Grid. From the start of use, they are amortised on a straight-line basis over their benefit period of 16 years.
Transportation engineering projects are amortised on a straight-line basis over their benefit period of 10 years to 20 years
(c) Other intangible assets
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Besides land use right, sea use right, associated projects for electricity transmission and transformation, microwave engineering and transportation engineering, other intangible assets are amortized on a straight-line basis over their expected life of 2 years to 25 years.
(d) Periodic review on useful life and method of amortisation
For intangible assets with finite useful life, their expected life and amortisation method are reviewed and adjusted at the end of every year.
(e) Impairment of intangible assets
The carrying amount of intangible assets is reduced to the recoverable amount when the recoverable amount is less than the carrying amount.
（2）Accounting policies for the internal research and development expenditure
The internalR&D project expenditure is classified into the research expenditure and the development expenditure based on the property thereof and the large uncertainty existence for the final formation of the intangible assets of theR&D activities.
The expenditure for the planned survey, evaluation and selection phases for theR&D projects is that for the research phase and will be included into the current profits and losses upon occurrence; the expenditure for relevant design and test phases applied finally for theR&D projects is that for the development phase, among which, that complied with the following conditions will be capitalized:
The development ofR&D projects has been demonstrated sufficiently by the technology team;
The Management Layer has already approved the budget for the development ofR&D projects;
The Management Layer has already approved the budget for the development ofR&D projects;
It has sufficient technical and capital support for the project development activities and following large-scale production;
The expenditure related to the development may be collected reliably.
The expenditure of the development phase in unconformity with conditions above will be included into the current profits and losses upon occurrence. The expenditure of the previous periods included into the profits and losses will not be re-deemed as the asset in the following periods. The capitalized expenditure in the development phase is listed as the development expenditure in the balance sheet and will become the intangible asset from the date when the project meeting the intended usage.
22. Impairment of long-term assets
Fixed assets, construction in progress, intangible assets with finite useful lives, investment property measured at cost and long-term equity investments in subsidiaries, joint venture, and associates are tested for impairment if there is any indication that an asset may be impaired at the balance date. If the result of the impairment test indicates that the recoverable amount of the asset is less than its carrying amount, a provision for impairment and an impairment loss are recognised for the amount by which theasset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of anasset’s fair value less costs to sell and the present value of the future cash flows expected to be derived from the asset. A provision for asset impairment is determined and recognised on an individual asset basis. If it is not possible to estimate the recoverable amount of an individual asset, the recoverable amount of the group of assets to which the asset belongs is determined. A group of assets is the smallest group of assets that is able to generate independent cash inflows.
Goodwill that is separately presented in the financial statements is tested at least annually for impairment, irrespective of whether there is any indication that it may be impaired. In conducting the test, the carrying value of goodwill is allocated to the related asset group or groups of asset groups which are expected to benefit from the synergies of the business combination. If the result of the test indicates that the recoverable amount of an asset group or a group of asset groups, including the allocated goodwill, is lower than its carrying amount, the corresponding impairment loss is recognised. The impairment loss is first deducted from the carrying amount of goodwill that is allocated to the asset group or group of asset groups, and then deducted from the carrying amounts of other assets within the asset group or group of asset groups in proportion to the carrying amounts of assets other than goodwill.
Once the asset impairment loss mentioned above is recognised, it is not allowed to be reversed for the value recovered in the subsequent periods.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 23.Long-term deferred expenses
Long-term prepaid expenses include the expenditure for improvements to fixed assets held under operating leases, and other expenditures that have been incurred but should be recognised as expenses over more than one year in the currentand subsequent periods. Long-term prepaid expenses are amortised on the straight-line basis over the expected beneficial period and are presented at actual expenditure net of accumulated amortisation.
24. Employee benefits
(1) Short-term employee benefits
Short-term remunerations mainly include wages or salaries, bonuses, allowances and subsidies, staff welfare, medical insurance, work injury insurance, maternity insurance, housing funds, labour union funds, employee education funds, short-term paid absence. Short-term remunerations are recognised as current liabilities in the accounting period in which the service has been rendered by the employees, and as costs of assets or expenses to whichever the employee service is attributable. Non-monetary benefits are measured at fair value.
（2）Post–employment benefits
TheCompany’s post-employment benefits scheme includes both Defined Contribution Plan (DCP) and Defined Benefit Plan (DBP). A DCP is a pension plan under which the Company pays fixed contributions into a separate entity and has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. A DBP is a pension plan that is not a defined contribution plan. During the periods of reporting, theCompany’s post-employment benefits scheme mainly includes basic pension insurance and unemployment insurances, both of which are DCP.
Basic pension insurance
Employees of the Group have entered into the social pension insurance scheme organised by local labour and social security department. The Group pays basic pension insurances to local labour and social security department monthly according to local insurance base and corresponding rate. Local labour and social security department is obligated to pay basic pensions to retired employees.
Supplementary pension insurance
The company purchases supplementary pension insurance on behalf of employees, and pays pension insurances according to the policies of Yudean Group. The amounts based on the above calculations are recognised as liabilities in the accounting period in which the service has been rendered by the employees, with a corresponding charge to the profit or loss for the current period or the cost of relevant assets.
(3) Termination benefits
The Group provides compensation for terminating the employment relationship with employees before the end of the employment contracts or as an offer to encourage employees to accept voluntary redundancy before the end of the employment contracts. The Group recognises a liability arising from compensation for termination of the employment relationship with employees, with a corresponding charge to profit or loss at the earlier of the following dates: 1) when the Group cannot unilaterally withdraw the offer of termination benefits because of an employment termination plan or a curtailment proposal; 2) when the Group recognises costs or expenses related to the restructuring that involves the payment of termination benefits.
Early retirement benefits
The Group provides early retirement benefits for employees who enrolled in internal retirement arrangement. Early retirement benefits refer to wages and social benefit paid by the Group on behalf of the employees who have not meet retirement age requirement but voluntarily retire after permission from theGroup’s management level. The Group starts paying early retirement benefits to early retired employees from the start date of their early retirement until they reach the statutory retirement age. For the accounting treatment of early retirement benefits, the Group adopts the same method as termination benefits, that is, upon confirming the termination benefits comply with relevant conditions, proposed payment of early retirement wages. and social security from the start date of termination of services to the date of statutory retirement age are recognised as liability and recorded into profit and loss at lump sum. The discrepancy caused by change in actuarial assumption and adjustment of welfare standard is recorded into current profit or loss.
Early retirement benefits that are expected to be paid within one year after balance sheet date are disclosed as current liabilities.
(4) Other long-term employee benefits
According to the Urban Employee Basic Medical Insurance (UEBMI) policy governing the Company and some of theGroup’s subsidiaries, if anemployee’s UEBMI contribution period who participates in basic medical insurance for urban residents, fails to reach the time requirement when the employee reaches the statutory retirement age,
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 the employee shall continue to contribute to the UEBMI till the contribution period meets the required time. The Group determines the amount to be contributed in the residual service period of an employee based on the present value of the future cash flow expected to be paid for UEBMI till the required time is met, which will be recognised as long-term employee benefits liabilities with a corresponding charge to profit or loss or included in cost of related assets.
25. Estimated Liabilities
Provisions for product warranties, onerous contracts etc. are recognised when the Group has a present obligation, it is probable that an outflow of economic benefits will be required to settle the obligation, and the amount of the obligation can be measured reliably.
A provision is initially measured at the best estimate of the expenditure required to settle the related present obligation. Factors surrounding a contingency, such as the risks, uncertainties and the time value of money, are taken into account as a whole in reaching the best estimate of a provision. Where the effect of the time value of money is material, the best estimate is determined by discounting the related future cash outflows. The increase in the discounted amount of the provision arising from passage of time is recognised as interest expense.
The carrying amount of provisions is reviewed at each balance sheet date and adjusted to reflect the current best estimate.
The provisions expected to be settled within one year since the balance sheet date are classified as current liabilities.
26.Share-based payments
27.Preferred shares, perpetual capital secutities and other financial instruments
28. Revenue
Whether the company needs to comply with the disclosure requirements of the particular industry
No
The amount of revenue is determined in accordance with the fair value of the consideration received or receivable for the sale of goods and services in the ordinary course of theGroup’s activities.
Revenue is shown net of discounts and returns. Revenue is recognised in profit or loss when it is probable that the economic benefits will flow to the Group, the revenue and costs can be measured reliably and the following respective conditions aremet：
(a) Revenue from sales of electricity and heat energy
Revenue is recognised when electricity and heat energy are supplied to grid companies or customers.
(b) Revenue from sales of by-products
Revenue from the sales of goods is recognised when the Group transfers by-products (such as coal ash) produced by electricity generations to the designated delivery place pursuant to the contract or agreement and the recipient resource utilisation confirms receipt.
(c) Rendering of services
Revenue from rendering of services is measured at the fair value of the consideration received or receivable under the contract or agreement.
The Group provides external bidding agency service and maintenance service.
The Group provides external bidding agency service, upon the completion of the bidding service, revenue is recognised based on the pricing difference between the electricity consumption of bidding and auction price, and thecustomer’s conventional price of electricity.
The Group provides external maintenance service, revenue is recognised according to the percentage completion method, determined by percentage of the total cost incurred.
(d) Revenue from sale of certified emission reductions (CERs)
The Group sells CERs provided by its natural gas facilities and wind power facilities. These facilities are registered with the Clean Development Mechanism (CDM) Executive Board (EB) of the United Nations as CDM projects under the Kyoto Protocol. The Company also sells voluntary emission reductions (“VERs”) attributable to the electricity generated from CDM projects before getting registered with CDMEB.
Revenue related to CERs and VERs is recognised when the following conditions are met:
- The counterparty has committed to buy CERs or VERs;
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 - The amount of income from selling CERs or VERs can be reliably measured;
- The Company has generated the related electricity.
(e) Transfer of asset usage rights
Interest income is recognised based on the length of time of the deposits or principal outstanding and the applicable effective interest rate. Rental income for operation lease is recognised according to straight-line method of allocation over the rental period.
29. Government grants
1. Judgment Basis and Accounting Treatment Method of Government Grants related to Assets
Government grants related to assets refer to government grants which are obtained by the Group for the purposes of purchase, construction or acquisition of the long-term assets. Government grants related to income refer to the government grants other than those related to assets.
Government grants related to assets will be recorded as deferred income and recognised evenly in profit or loss over the useful lives of the related assets. However, the government grants measured at their nominal amounts will be directly recorded in profit and loss for the current period.
2. Judgment Basis and Accounting Treatment Method of Government subsidy related to Income
Government grants related to income will be recorded as deferred income and recognised in profit or loss in the period in which the related expenses are recognised if the grants are intended to compensate for future expenses or losses, and otherwise recognised in profit or loss for the current period if the grants are used to compensate for expenses or losses that have been incurred.
The Group applies the presentation method consistently to the similar government grants in the financial
statements.
Government grants that are related to ordinary activities are included in operating profit, otherwise, they are recorded in non-operating income or expenses.
30. Deferred income tax assets/Deferred income tax liability
Deferred tax assets and deferred tax liabilities are calculated and recognised based on the differences arising between the tax bases of assets and liabilities and their carrying amounts (temporary differences). Deferred tax asset is recognised for the deductible losses that can be carried forward to subsequent years for deduction of the taxable profit in accordance with the tax laws. No deferred tax liabilities is recognised for the temporary differences resulting from the initial recognition of Goodwill. No deferred tax asset or deferred tax liability is recognised for the temporary differences resulting from the initial recognition of assets or liabilities due to a transaction other than a business combination, which affects neither accounting profit nor taxable profit (or deductible loss). At the balance sheet date, deferred tax assets and deferred tax liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled.
Deferred tax assets are only recognised for deductible temporary differences, deductible losses and tax credits to the extent that it is probable that taxable profit will be available in the future against which the deductible temporary differences, deductible losses and tax credits can be utilised.
Deferred tax liabilities are recognised for temporary differences arising from investments in subsidiaries, joint venture, and associates, except where the Group is able to control the timing of reversal of the temporary difference, and it is probable that the temporary difference will not reverse in the foreseeable future. When it is probable that the temporary differences arising from investments in subsidiaries and associates will be reversed in the foreseeable future and that the taxable profit will be available in the future against which the temporary differences can be utilised, the corresponding deferred tax assets are recognised.
Deferred tax assets and liabilities are offset when:
the deferred taxes are relate to the same tax payer within the Group and same fiscal authority,and;
 that tax payer has a legally enforceable right to offset current tax assets against current tax liabilities.
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 31. Leases
（1）Accounting of operational leasing
Operating lease expenses are recorded in relevant cost of capital or current profit or loss according to straight-line method over the lease period.
Operating lease revenue are recognised according to straight-line method over the lease period.
（2）Accounting treatment of financing leasing
When the Group acquires an asset under a finance lease, the asset is measured at an amount equal to the lower of its fair value and the present value of the minimum lease payments, each determined at the inception of the lease. The difference between the fair value of the leased assets and the minimum lease payments is recognised as unrecognised finance charges. Unrecognised finance charge under finance lease is amortised using an effective interest method over the lease term. The minimum lease payment net of unrecognised finance charges are disclosed as long-term payable.
32. Other significant accounting policies and estimates
33.Change of main accounting policies and estimations
(1)Change of main accounting policies
□Applicable√Not applicable
（2）Change of main accounting estimations
□Applicable√Not applicable
34.Other
VI.Taxation
1.Main categories and rates of taxes
||||
|-|-|-|
|Tax items|Tax basis|Tax rate|
|||3%，6%，10%，11%，16%及17%（According to the “Notice|
||Taxable value added amount (Tax||
|||of the Ministry of Finance and the State Administration of|
||payable is calculated using the taxable||
|||Taxation on Adjusting the Value-Added Tax Rate” (Cai Shui|
|VAT|sales amount multiplied by the||
|||[2018] No. 32) and related regulations, since May 1, 2018 the tax|
||applicable tax rate less deductible VAT||
|||rates for the group's original business which were applicable to|
||input of current period)||
|||17% and 11% will be adjusted to 16% and 10% respectively）|
|City maintenance and|Amount of VAT, business tax and||
|||5% and7%|
|construction tax|consumption tax paid||
|Corporate income tax|Taxable income|0% and 25%|
|Education surcharges|Based on VAT paid|3%|
|Local education|||
||Based on VAT paid|2%|
|surcharges|||
||The rental income or residual value of||
|House property tax||12% and1.2%|
||the property||

In case there exist any taxpayer paying corporate income tax at different tax rates, disclose the information
|||
|-|-|
|Name of taxpayer|Income tax rates|
|Dianbai Wind power|0%|
|Qujie Wind Power|0%|
|Leizhou Wind Power|0%|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 2.Tax preferences
Pursuant to the approval documents (Caishui[2008] No. 46 and Guo Shui Fa[2009] No. 80), Xuwen Wind Power, Dianbai Wind Power, Qujie Wind Power and Leizhou Wind Power are exempted from enterprise income tax in the first three years counting from the year profits are recorded, and can enjoy half rate reduction in the following three years. As the local taxation bureau considered that Xuwen Wind Power posted profits for the first time in 2012, and Dianbai Wind Power posted profits for the first time in 2016, Qujie Wind Power posted profits for the first time in 2016 and Leizhou Wind Power posted profits for the first time in 2017, the applicable enterprise income tax rates for Dianbai Wind Power, Qujie Wind Power and Leizhou Wind Power are0%,0% and0% in first half of 2018(2017:0%,0% and0%) respectively.
In addition,50% of VAT levied on the sales of electricity generated by Guangdong Yudean Shibeishan Wind Power Co., Ltd. (“Shibeishan”), Guangdong Yudean Zhanjiang Wind Power Generation Co., Ltd. (“Zhanjiang Wind Power”), Xuwen Wind Power, Dianbai Wind Power, Qujie Wind Power and Leizhou Wind Power and Huilai Wind Power will be refunded immediately in accordance with the Notice Concerning Value Added Tax Policies on Wind Power Generation (Cai Shui[2015] No.74)
3.Other
VII. Notes of consolidated financial statements
1.Monetary Capital
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Cash|51,361|37,745|
|Bank deposit|5,928,532,419|4,996,542,745|
|Total|5,928,583,780|4,996,580,490|

 Other notes
As of June 30,2018,Thecompany’s deposit in Yudean Finance company is 3,605,937,699 yuan (4,152,300,806 yuan before December 31, 2017).The deposit in Yudean Finance means that deposited in Guangdong Yudean Finance Co., Ltd. (“Yudean Finance”). Yuedian Finance is one financial institution approved by People's Bank of China and is a subsidiary of Yuden Group Co., Ltd.
2.Financial assets measured at fair value throuth current profit and loss
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|

Other notes
3.Derivative financial assets
□Applicable√ Not applicable
4.Note receivable
（1）Classification bill receivable
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018（2）Note receivable pledged by the Company at the period -end
In RMB
|||
|-|-|
|Items|Amount|

（3）Note receivable endorsed or discounted by the Company as at June 30.2018 but not expired on the balance sheet date
In RMB
||||
|-|-|-|
|||Amount underecognized ats at june|
|Items|Amount derecognized as at June 30,2018||
|||30,2018|

（4）There is no notes transferred to accounts receivable because drawer of the notes fails to exuted the contract or agreement
In RMB
|||
|-|-|
|Items|Amount|

Other notes
5.Account receivable
（1）Classification Account receivable :
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Year-end balance|||||Year-beginning balance|||||
||||Provision for bad|||||Provision for|||
||Book balance|||||Book balance|||||
||||debts|||||bad debts|||
|Category|||||Book|||||Book Value|
||||||||||Propo||
|||Proportion||Proportion|Value||Proporti|Amou|||
||Amount||Amount|||Amount|||rtion||
|||（%）||（%）|||on（%）|nt|||
||||||||||（%）||
|Accounts receivable|||||||||||
|of individual|||||||||||
|significance and|2,864,336||||2,864,336||||||
|||98.62%||||2,781,066,903|98.40%|||2,781,066,903|
|subject to individual|,117||||,117||||||
|impairment|||||||||||
|assessment|||||||||||
|Accounts receivable|||||||||||
|of individual|||||||||||
|insignificance but|40,133,18||||40,133,18||||||
|||1.38%||||45,170,356|1.60%|||45,170,356|
|subject ot individual|4||||4||||||
|impairment|||||||||||
|assessment|||||||||||
||2,904,469||||2,904,469,301|||||2,826,237,259|
|Total||100 %||||2,826,237,259|100 %||||
||,301||||||||||

Receivable accounts with large amount individually and bad debt provisions were provided.
√Applicable□Not applicable
In RMB
||||||
|-|-|-|-|-|
|Content of account|End of term||||
|receivable（Unit）|Account receivable|Provision for bad debts|Proportion of provision|Reason for provision|
|GPGC|2,665,000,237|0|0 %||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
|Shenzhen Powe supply|||||
||142,006,674|0|0 %||
|Bureau|||||
|GPGC,Zhanjiang Power|||||
||39,623,537|0|0 %||
|supply Bureau|||||
|GPGC,Jieyang Power|||||
||9,694,907|0|0 %||
|supply Bureau|||||
|YPGC|8,010,762|0|0 %||
|Total|2,864,336,117||--|--|

Account reveivable on which bad debt proisions are provided on age basis in the group
□Applicable√Not applicable
Receivable accounts on which had debt provisions are provided on percentage analyze basis in a portfolio□Applicable√Not applicable
Receivable accounts on which had debt provisions are provided by other ways in the portfolio
（2）Accounts receivable withdraw, reversed or collected during the reporting period
The withdrawal amount of the bad debt provision during the reporting period was of RMB 0.00;The amount of the reversed or collected part during the reporting period was of RMB0.00.
Where the current bad debts back or recover significant amounts:
In RMB
||||
|-|-|-|
|Name|Back or withdraw money|Method|

（3）The current accounts receivable written-offs situation
In RMB
|||
|-|-|
|Items|Amount written-offs situation|

Account receivables actually written-offs during the reportingperiod：
In RMB
|||||||
|-|-|-|-|-|-|
||Nature of account||Reason for|Verification|Arising form related|
|Name||Amount written-off||||
||receivable||written-off|procedures|transactions(Y/N)|

 Explanation for written-off of accountreceivables：
（4）The ending balance of other receivable owed by the imputation of the top five parties
|||||
|-|-|-|-|
|||Bad debt provision||
|Name|Amount in year-end||Proportion%|
|||Proportion%||
|Total|2,864,336,117|-|98.62%|
|GPGC|2,665,000,237|0|91.76%|
|Shenzhen Powe supply Bureau|142,006,674|0|4.89%|
|GPGC,Zhanjiang Power supply|39,623,537|0|1.36%|
|Bureau||||
|GPGC,Jieyang Power supply|9,694,907|0|0.33%|
|Bureau||||
|YPGC|8,010,762|0|0.28%|

(5) Account receivable which terminate the recognition owning to the transfer of the financial assets
(6) The amount of the assets and liabilities formed by the transfer and the continues involvement of accounts receivable
Othernotes：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 6.Prepayments
（1）Age analysis
In RMB
||||||
|-|-|-|-|-|
||Year-end balance||Year-beginning balance||
|Aging|||||
||Amount|Proportion|Amount|Proportion|
|Within 1 year|1,216,078,228|97.39%|825,247,024|99.81%|
|1-2 years|31,850,748|2.55%|963,292|0.12%|
|2-3 years|264,115|0.02%|8,640|0 %|
|Over 3 years|539,649|0.04%|567,323|0.07%|
|Total|1,248,732,740|--|826,786,279|--|

Notes of the reasons of the prepayment ages over 1 year with significant amount but failed settled intime:： As at June 30,2018, advances to suppliers aged more than 1 year were RMB 32,654,512, mainly including prepayments for spare parts and materials.
（2）The ending balance of Prepayments owed by the imputation of the top five parties
|||||||
|-|-|-|-|-|-|
|Name||Relationship with the|Amount|Proportion %|Reason|
|||company||||
|Guangdong Power Industry Fuel Co., Ltd.|The joint venturewith Guangdonggroup control||544,340,420|43.59%|According tothe annualassessmentof rollingbalance|
|Guangdong Zhutui Electric Power fuel Co.,Ltd.|Non-related party||282,194,545|22.60%||
|Guangzhu Railway Co., Ltd. Gaolan PortStation income accounts|Non-related party||65,337,935|5.23%||
|Guangzhou Port Co., Ltd. Xiji Port Branch|Non-related party||61,293,969|4.91%||
|Guangshen Railway Co., Ltd. GuangzouFreight Center|Non-related party||52,218,982|4.18%||
|Total|||1,005,385,851|80.51%||

Othernotes：
7.Interest receivable
（1）Classification Interest receivable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in Year-beginning|
|Fixed deposit|18,297,556|14,923,771|
|Total|18,297,556|14,923,771|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018（2）Important overdue interest
||||||
|-|-|-|-|-|
|||||Is there any impairment|
|Name|Balance in year-end|Overdue date|Reason||
|||||and its judgment basis?|

 Othernotes：
8.Dividend receivable
（1）Dividend receivable
In RMB
||||
|-|-|-|
|Items|Amount in year-end|Amount in year-beginning|

（2）Dividend receivable aging over 1 years
In RMB
||||||
|-|-|-|-|-|
|||||Whether the impairment|
|Items|Amount in year-end|Age|Reason||
|||||and its judgment basis|

 Othernotes：
9. Other accounts receivable
(1) Other accounts receivable disclosed by category
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Amount in year-end|||||Amount in year- begin|||||
||||Bad debt||||||||
||Book Balance|||||Book Balance||Bad debt provision|||
||||provision||||||||
|Category|||||||||||
|||||Propor|Book value|||||Book value|
|||Proport|||||Proporti||Proportio||
||Amount||Amount|tion(%||Amount||Amount|||
|||ion(%)|||||on(%)||n(%)||
|||||)|||||||
|Other accounts|||||||||||
|receivable of|||||||||||
|individual|||||||||||
|significance and|||||||||||
||208,585,420|71.58%|0|0 %|208,585,420|171,216,800|79.36%|0|0 %|171,216,800|
|subject to|||||||||||
|individual|||||||||||
|impairment|||||||||||
|assessment|||||||||||
|Other accounts|||||||||||
|receivable of|||||||||||
|individual|||||||||||
|insignificance|||||||||||
||82,804,232|28.42%|6,846,527|8.27%|75,957,705|44,537,720|20.64%|6,846,527|15.37%|37,691,193|
|but subject to|||||||||||
|individual|||||||||||
|impairment|||||||||||
|assessment|||||||||||
|Total|291,389,652|100 %|6,846,527|2.35%|284,543,125|215,754,520|100 %|6,846,527|4.59%|208,907,993|

Other receivable accounts with large amount and were provided had debt provisions individually at end of period.
√ Applicable□ Not applicable
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 In RMB
||||||||
|-|-|-|-|-|-|-|
||||End of term||||
|Other receivable（Unit）|||||||
||||Other receivable|Bad debt provision|Proportion|Reason|
|Guangdong Yudean Property|||||||
||||98,000,000|0|0 %||
|Insurance|Captive|Co., Ltd.|||||
|Guangdong Yudean Enviornmental|||||||
||||87,139,420|0|0 %||
|Pretection Co., Ltd.|||||||
|Maoming Bohe Xingang District|||||||
||||23,446,000|0|0 %||
|Construction Headquarters office|||||||
|Total|||208,585,420|0|--|--|

Other receivable accounts in Group on which bad debt provisions were provided on age analyzebasis：
□Applicable√Not applicable
Other receivable account in Group on which bad debt provisions were provided on percentagebasis：
□Applicable√Not applicable
Other Receivable accounts on which bad debt provisions are provided by other ways in theportfolio：
√ Applicable□ Not applicable
In RMB
|||||||
|-|-|-|-|-|-|
||Nature||Book balance||Bad debt provision|
|Prepayments for construction||32,614,038||2,266,145||
|Income receivable from by productsales||100,262,617||2,803,641||
|Reserve funds||8,872,740||34,619||
|Other||24,445,537||1,742,122||
|Total||166,042,932||6,846,527||

（2）Bad debt provision accrual collected or switch back
Bad debt provision accrual was RMB0.00, the acount collected or switches back amounting to RMB 0.00. Significant amount of reversed or recovered bad debtprovision：
In RMB
||||
|-|-|-|
|Name|Amount|Method|

(3) Other account receivables actually cancel after wtite-off
In RMB
|||
|-|-|
|Items|Amount|

Of Which,Other receivablewrite-off：
In RMB
|||||||
|-|-|-|-|-|-|
||||||Whether the money|
||||||is generated by|
|Name|Nature|Amount|Reason|program||
||||||related party|
||||||transactions|

Notes：
(4) Other account receivables category by nature of money
In RMB
||||
|-|-|-|
|Naature|Ending book balance|Beginning book balance|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Prepayments for construction|100,262,617|140,445,384|
|Reserve funds|98,000,000|0|
|Prepayments for construction|32,614,038|6,236,199|
|Land fund|23,446,000|23,446,000|
|Petty cash|8,720,740|6,996,288|
|Government Grants|3,900,720|6,474,557|
|Other|24,445,537|32,156,092|
|Total|291,389,652|215,754,520|

（5）The ending balance of other receivables owed by the imputation of the top five parties
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|||||Year-end||Portion in total other|Bad debt provision|
|Name|||Nature||Age|||
|||||balance||receivables(%)|of year-end balance|
|Guangdong Yudean Property|||Investment to be|||||
|||||98,000,000|Within 1 year|33.63%|0|
|Insurance|Captive|Co., Ltd.|transferred|||||
|Guangdong Yudean||||||||
||||Sales of by-products|||||
|Environmental Protection Co.,||||87,139,420|Within 1 year|29.90%|0|
||||receivable|||||
|Ltd.||||||||
|Maoming Bohe Xingang||||||||
||||Land cushion|||||
|District Construction||||23,446,000|Within 1 year|8.05%|0|
||||receivable|||||
|Headquarters office||||||||
|Huidong Finance Bureau|||VAT return|3,900,720|Within 1 year|1.34%|0|
|Maoming Petrochemical|||Sales of by-products|||||
|||||3,148,056|Within 1 year|1.08%|0|
|Shengli cement Co., Ltd.|||receivable|||||
|Total|||--|215,634,196|--|74 %|0|

 (6) Account receivables with government subsidies involved
In RMB
||||||
|-|-|-|-|-|
|||||Estimated time, amount|
|Name|Project name|Amount in year-end|At the end of aging||
|||||and basis|
|||||It is expected to be fully|
|Huilai State Taxation|||||
||VAT return|3,900,720|Within 1 year|recovered in December|
|Bureau|||||
|||||2018|
|Total|--|3,900,720|--|--|

(7) Other account receivables recognition terminated due to transfer of financial assets
(8) Other account receivables transferred and assets& liability formed by its continuous involvement
Other Notes
10.Inventory
Whether the company needs to comply with the disclosure requirements of the particular industry
No
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018（1）Inventory types
In RMB
||||||||
|-|-|-|-|-|-|-|
||Year-end balance|||Year-beginning balance|||
|Items||Provision for bad|||Provision for bad||
||Book Balance||Book value|Book Balance||Book value|
|||debts|||debts||
|Raw materials|1,308,064,351|0|1,308,064,351|807,187,691|0|807,187,691|
|Parts|663,909,599|17,420,859|646,488,740|714,566,924|17,420,859|697,146,065|
|Other|51,846,978||51,846,978|23,301,017||23,301,017|
|Total|2,023,820,928|17,420,859|2,006,400,069|1,545,055,632|17,420,859|1,527,634,773|

 Whether the company is required to comply with the "Shenzhen Stock Exchange Industry Information Disclosure Guidelines No. 4 - listed companies engaged in seed industry, planting business" disclosure requirements
No
(2) Inventory depreciation reserve
In RMB
||||||||
|-|-|-|-|-|-|-|
||Beginning of|Increased in current period||Decreased in current period|||
|Items||||||End of term|
||term|Provision|Other|Transferred back|Other||
|Raw materials|0|0|0|0|0|0|
|Parts|17,420,859|0|0|0|0|17,420,859|
|Total|17,420,859|0|0|0|0|17,420,859|

 (3) Explanation on inventories with capitalization of borrowing costs included at ending balance
(4) Assets unsettled formed by construction contract which has completed at period-end
In RMB
|||
|-|-|
|Items|Amount|

Othernotes：
11. Divided into assets held for sale
In RMB
||||||
|-|-|-|-|-|
|Items|Ending book value|Fair value|Estimated disposal cost|Estimated disposal time|

 Othernotes：
12. Non-current assets due within 1 year
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|After-sale leaseback deposit||29,563,053|
|Total||29,563,053|

Othernotes：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 13. Other current assets
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Deductible VAT|1,137,109,120|1,106,133,996|
|Prepayment of income tax|20,552,076|31,389,365|
|Other|528,898|59,108|
|Total|1,158,190,094|1,137,582,469|

 Othernotes：
14. Available-for-sale financial assets
(1) Available-for-sale financial assets
In RMB
||||||||
|-|-|-|-|-|-|-|
||Balance in year -end|||Amount at year beginning|||
|Items|Book balance|Provision for|||Provision for||
||||Book value|Book balance||Book value|
|||impairment|||impairment||
|Available-for-sale|1,206,175,581||||||
|||25,010,686|1,181,164,895|1,268,644,671|25,010,686|1,243,633,985|
|liabilities instruments|||||||
|According to the fair|346,523,895||||||
||||346,523,895|408,992,985||408,992,985|
|value measurement|||||||
|According to the Cost|859,651,686||||||
|||25,010,686|834,641,000|859,651,686|25,010,686|834,641,000|
|measurement|||||||
|Total|1,206,175,581|25,010,686|1,181,164,895|1,268,644,671|25,010,686|1,243,633,985|

 (2) Available-for-sale financial assets measured at fair value at period-end
In RMB
|||||
|-|-|-|-|
|Classification|Available-for-sale equity|||
|||Available-for-sale liabilities instruments|Total|
||instruments|||
|Cost of the equityinstruments/amortizedcost of the liabilitiesinstruments||||
||||0|
|Fair value|346,523,895||346,523,895|
|Changed amount of thefair value accumulativelyincluded in othercomprehensive income||||
||91,195,279||91,195,279|

（3）Available-for–sale financial assets measured at cost at the end of the year
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Book balance||||Provision for impairment||||Percenta|Cash|
|Investee|Balance of|Increa|Decre||Balance of||Decrease||ge of|dividends|
|||||End of term||Increase||End of term|sharehol|for the|
||term|se|ase||term||||||
||||||||||ding in|year|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||
|-|-|-|-|-|-|-|
||||||investees||
||||||%||
|ShenzhenChuangxin|||||||
|Imvestment Group|115,000,000|115,000,000|||3.67%|16,978,500|
|Co., Ltd.|||||||
|Sun Insurance|356,000,000|356,000,000|||3.38%||
|South Sea Wind|||||||
|Electricity|||||||
|Development Co.,|70,000,000|70,000,000|||10 %||
|Ltd.|||||||
|Yunnan Weixin|||||||
||318,651,686|318,651,686|25,010,686|25,010,686|19.55%||
|Energy Co., Ltd.|||||||
|Total|859,651,686|859,651,686|25,010,686|25,010,686|--|16,978,500|

 (4) Changes of the impairment of the available-for-sale financial assets during the reporting period
In RMB
|||||
|-|-|-|-|
||Available-for-sale Equity|Available-for-sale Debt||
|Type|||Total|
||instruments|instruments||

⑸Relevant description of the end of the fair value of the equity instruments at the end of a serious decline in fair value or non temporary decline but not related to impairment provision
||||||||
|-|-|-|-|-|-|-|
||||Decrease in fair||||
|||||Continuous fall|Provision for|Reasons for|
|Project|Investment cost|Ending fair value|value relative to||||
|||||time (month)|impairment|impairment|
||||cost||||

Other notes
In RMB 15. Held-to-maturity investment
(1) Held-to-maturity investment
In RMB
||||||||
|-|-|-|-|-|-|-|
||Year-end balance|||Year-beginning balance|||
|Items||Provision forimpairment|||Provision for||
||Book balance||Book value|Book balance||Book value|
||||||impairment||

(2) Important held-to-maturity investment at period-end
In RMB
||||||
|-|-|-|-|-|
|Project|Face value|Interest rate|Actual interest rate|Expiring date|

 (3) Reclassify of held-to-maturity investment in the period
Other notes
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 16. Long-term account receivables
（1）Long-term account receivables
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
||End of term|||Beginning of term||||
|Items||Provision for|||Provision for||Range of rate|
||Book balance||Book value|Book balance||Book value||
|||impairment|||impairment|||
|After-sale||||||||
||85,579,950|0|85,579,95|0 84,358,065|0|84,358,065|4.12%-5.31%|
|leaseback deposit||||||||
|Total|85,579,950||85,579,95|0 84,358,065||84,358,065|--|

 (2) Long-term account receivables recognition terminated due to transfer of financial assets
(3) Long-term account receivables transferred and assets& liability formed by its continuous involvement Other notes
17. Long-term equity investment
In RMB
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
||||Increase/decrease||||||||||
|||||||||||||Closing|
||||||Investment||||||||
|||||||Adjustme|||Withdra|||balanceof|
||||||gains and||||||||
|Investees|Opening||Add|Reduce|losses|nt ofother|Other|Declaration of|wnimpair||Closing|impairm|
||balance||invest|invest|recognized||equity|cash dividends||Other|balance||
|||||||comprehe|||ment|||ent|
||||ment|ment|under the|nsive|changes|or profit|provisio|||provisio|
||||||equity|income|||n|||n|
||||||method||||||||
|I. Joint ventures|||||||||||||
|IndustrialFu|||||||||||||
||605,678,402||||41,278,498|||75,493,986|||571,462,914||
|el|||||||||||||
|Subtotal|605,678,402||||41,278,498|||75,493,986|||571,462,914||
|II. Associates|||||||||||||
|Shanxi|||||||||||||
|||1,216,441,2|||||||||||
|Yudean|||||110,913,552||||||1,327,354,798||
|||46|||||||||||
|Enerty|||||||||||||
|Yudean|||||||||||||
|||700,701,205|||56,739,397|||57,221,066|||700,219,536||
|Finance|||||||||||||
|Taishan|||||||||||||
|||1,961,475,6|||||||||||
|Power|||||81,699,809||||||2,043,175,418||
|||09|||||||||||
|Generation|||||||||||||
|Yudean|||||||||||||
|||941,757,936|||-2,354,123|||8,469,538|||930,934,275||
|Shipping|||||||||||||
|West|||||||||||||
|||153,696,713|||-20,427,697||||||133,269,016||
|Investment|||||||||||||
|YangshanJian|||||||||||||
|||5,673,426|||239,442|||852,810|||5,060,058||
|gkeng|||||||||||||
|YangshanZho|||||||||||||
|||7,509,371|||399,953||||||7,909,324||
|ngxinkeng|||||||||||||
|Yudean||145,321,830|||1,586,857||||||146,908,687||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
|Captive|||||
|HuanengShan|||||
|tou Wind|62,750,674|2,329,297|5,045,000|60,034,971|
|Power|||||
||5,195,328,0||||
|Subtotal||231,126,487|71,588,414|5,354,866,083|
||10||||
||5,801,006,4||||
|Total||272,404,985|147,082,400|5,926,328,997|
||12||||

Other notes
18. Investment real estate
(1) Investment real estate by cost measurement
√ Applicable□Not applicable
In RMB
||||||
|-|-|-|-|-|
|Items|House, Building|Land use right|Construction in process|Total|
|I. Original price|||||
|1. Balance at|||||
||20,135,165|||20,135,165|
|period-beginning|||||
|2.Increase in the current|||||
|period|||||
|(1) Purchase|||||
|（ 2 ） Inventory\Fixed|||||
|assets\ Transferred from|||||
|construction in progress|||||
|(3)Increased of|||||
|Enterprise Combination|||||
|3.Decreased amount of|||||
|the period|||||
|（1）Dispose|||||
|（2）Other out|||||
|4. Balance at period-end|20,135,165|||20,135,165|
|II.Accumulated|||||
|amortization|||||
|1.Opening balance|11,838,526|||11,838,526|
|2.Increased amount ofthe|||||
||317,799|||317,799|
|period|||||
|(1) Withdrawal|317,799|||317,799|
|3.Decreased amount of|||||
|the period|||||
|（1）Dispose|||||
|（2）Other out|||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|4. Balance at|||
||12,156,325|12,156,325|
|period-end|||
|III. Impairment provision|||
|1. Balance at|||
|period-beginning|||
|2.Increased amount of|||
|the period|||
|(1) Withdrawal|||
|3.Decreased amount of|||
|the period|||
|（1）Dispose|||
|（2）Other out|||
|4. Balance at period-end|||
|IV.Book value|||
|1.Book value at period||7,978,840|
||7,978,840||
|-end|||
|2.Book value at||8,296,639|
||8,296,639||
|period-beginning|||

(2) Details of fixed assets failed to accomplish certification of property
□ Applicable√ Not appliucable
(3) Investment real estate without certificate of ownership
In RMB
||||
|-|-|-|
|Items|Book balue|Reason|

Other notes
19. Fixed assets
(1) List of fixed assets
In RMB
|||||||
|-|-|-|-|-|-|
|||Machinery||||
|Items|House, building||Transportations|Other equipment|Total|
|||eqiupment||||
|I. Original price||||||
|1. Balance at||||||
||18,246,875,839|55,080,195,082|609,324,301|1,272,376,920|75,208,772,142|
|period-beginning||||||
|2.Increase in the||||||
||192,671,528|849,141,807|6,870,707|30,713,856|1,079,397,898|
|current period||||||
|(1) Purchase|68,898,071|283,870,259|6,870,707|19,522,861|379,161,898|
|（2） Transferred fr||||||
|om construction in p|44,235,622|565,271,548||11,190,995|700,236,000|
|rogress||||||
|(3)Increased of||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||
|-|-|-|-|-|-|
|Enterprise||||||
|Combination||||||
|3.Decreased amount||||||
||70,138,146|314,759,967|13,262,328|8,071,059|406,231,500|
|of the period||||||
|（1）Disposal|70,138,146|314,759,967|13,262,328|8,071,059|406,231,500|
|4. Balance at||||||
||18,372,202,656|55,605,298,145|602,177,227|1,302,260,512|75,881,938,540|
|period-end||||||
|II. Accumulated||||||
|depreciation||||||
|1.Opening balance|6,130,373,600|25,913,014,678|451,460,572|831,112,010|33,325,960,860|
|2.Increased amount||||||
||207,329,321|1,383,970,690|10,548,816|74,456,910|1,676,305,737|
|of the period||||||
|(1) Withdrawal|207,329,321|1,383,970,690|10,548,816|74,456,910|1,676,305,737|
|3.Decrease in the||||||
||1,579,766|23,140,514|13,436,339|1,546,080|39,702,699|
|reporting period||||||
|（1）Disposal|1,579,766|23,140,514|13,436,339|1,546,080|39,702,699|
|4.Closing balance|6,336,123,155|27,273,844,854|448,573,049|904,022,840|34,962,563,898|
|III. Impairment||||||
|provision||||||
|1.Opening balance|117,320,986|764,055,146|1,233,218|3,995,616|886,604,966|
|2.Increase in the||||||
|reporting period||||||
|（1）Withdrawal||||||
|3.Decrease in||||||
|||19,374,124|||19,374,124|
|the reporting period||||||
|（1）Disposal||19,374,124|||19,374,124|
|4. Closing balance|117,320,986|744,681,022|1,233,218|3,995,616|867,230,842|
|IV. Book value||||||
|1.Book value of the||||||
||11,918,758,515|27,586,772,269|152,370,960|394,242,056|40,052,143,800|
|period-end||||||
|2.Book value of the||||||
||11,999,181,253|28,403,125,258|156,630,511|437,269,294|40,996,206,316|
|period-begin||||||

(2) Fixed assets temporarily idled
In RMB
|||||||
|-|-|-|-|-|-|
|||Accumulated|Provision for|||
|Items|Original book value|||Book value|Remark|
|||depreciation|impairment|||

(3) Fixed assets rented by finance leases
In RMB
||||||
|-|-|-|-|-|
|||Accumulated|Accumulated||
|Items|Original book value|||Book value|
|||depreciation|depreciation||
|Zhongyue financing|||||
||900,000,000|333,870,539.14|140,480,000|425,649,460.86|
|leasing assets|||||
|Yuejiang financing|1,121,850,800|207,448,862.69||914,401,937.31|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|leasing assets||||
|Jinghai financing leasing||||
||1,600,000,000|1,100,416,666.67|499,583,333.33|
|assets||||

(4) Fixed assets leased in the operating leases
In RMB
|||
|-|-|
|Items|End book value|
|House and Building|11,633,387|

 (5) Fixed assets without certificate of title completed
In RMB
||||
|-|-|-|
|Items|Book value|Reason|
|||Temporarily in the government approved|
|House and Building|207,852,565||
|||stage|

Other notes
20. Project under construction
(1)Project under construction
In RMB
||||||||
|-|-|-|-|-|-|-|
||Year-end balance|||Year-beginning balance|||
|Items|Book balance|Provision for|Book value|Book balance|Provision for|Book value|
|||devaluation|||devaluation||
|Bohe Coal integration project|5,336,568,924||5,336,568,924|5,301,125,305||5,301,125,305|
|Lincang Dayakou Hydropower|||||||
||38,410,774||38,410,774|29,048,654||29,048,654|
|Station|||||||
|Huizhou Natural Gas thermal and|||||||
|power cogeneration expansion|2,104,340,077||2,104,340,077|1,368,242,612||1,368,242,612|
|project|||||||
|Xuwen Shiban ling wind power|||||||
||224,437,179||224,437,179|224,363,966||224,363,966|
|project|||||||
|Xuwen Qujie Wind Power project||||312,791,806||312,791,806|
|Red Bay No.5&6 generator units|26,446,446||26,446,446|26,446,446||26,446,446|
|Humen Electric 2*1000MW|||||||
||137,373,040|137,373,040||137,373,040|137,373,040||
|project|||||||
|Jinghai 1-4# generators ultra-low|||||||
|emission reduction alteration||||41,786,331||41,786,331|
|project|||||||
|Zhanjiang Wind 1-4# generators|||||||
|ultra-low emission renovation|56,453,163||56,453,163|43,214,650||43,214,650|
|project|||||||
|Zhongyue 1, 2 # generator units|||||||
||347,979,947||347,979,947|317,584,933||317,584,933|
|alteration project|||||||
|Other infrastructure construction|||||||
||602,385,167|14,906,223|587,478,944|462,343,094|14,906,223|447,436,871|
|projects|||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||
|-|-|-|-|-|-|-|
|Technology improvement and other|||||||
||401,623,156|886,463|400,736,693|356,532,229|886,463|355,645,766|
|projects|||||||
|Total|9,276,017,873|153,165,726|9,122,852,147|8,620,853,066|153,165,726|8,467,687,340|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 (2) Changes of significant construction in progress
In RMB
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||Including：|||
||||||||||Capitalisation||Capitalis||
|||||||||||Current|||
|||Amount at year|Increase at|Transferred to|Other|Balance in|Proportion|Progress of|of interest||ation of|Source of|
|Name|Budget|||||||||amount of|||
|||beginning|this period|fixed assets|decrease|year-end|(%)|work|accumulated||interest|funds|
|||||||||||capitalization|||
||||||||||balance||ratio（%)||
|||||||||||of interest|||
|||||||||||||Borrowing,|
|Bohe Coal integration project|9,785,950,000|5,301,125,305|73,359,059|37,915,440||5,336,568,924|54.92%|54.92%|228,418,223|76,695,262|4.75%|proprietary|
|||||||||||||funding|
|||||||||||||Borrowing,|
|Lincang Dayakou|||||||||||||
||1,209,578,400|29,048,654|9,362,120|||38,410,774|93.63%|93.63%|168,665,127||4.36%|proprietary|
|Hydropower Station|||||||||||||
|||||||||||||funding|
|Huizhou Natural Gas thermal||||||||||||Borrowing,|
|and power cogeneration|3,516,060,000|1,368,242,612|738,748,745|2,012,956|638,324|2,104,340,077|59.91%|59.91%|43,607,827|23,311,179|4.28%|proprietary|
|expansion project||||||||||||funding|
|||||||||||||Borrowing,|
|Xuwen Shiban ling wind|||||||||||||
||460,639,300|224,363,966|73,213|||224,437,179|53.99%|61%|8,328,342|185,538|4.36%|proprietary|
|power project|||||||||||||
|||||||||||||funding|
|||||||||||||Borrowing,|
|Xuwen Qujie Wind Power|||||||||||||
||466,450,000|312,791,806|35,122,278|347,914,084|||77.99%|100%|11,684,059|288,789|4.36%|proprietary|
|project|||||||||||||
|||||||||||||funding|
|Red Bay No.5&6 generator|||||||||||||
||7,714,370,000|26,446,446||||26,446,446|0.34%|0.50%||||Other|
|units|||||||||||||
|Humen Electric 2*1000MW|||||||||||||
|||137,373,040||||137,373,040||||||Other|
|project|||||||||||||
|Jinghai 1-4# generators|||||||||||||
|ultra-low emission reduction|558,000,000|41,786,331|96,723,817|138,510,148|||70.35%|100%||||Other|
|alteration project|||||||||||||
|Zhanjiang Wind 1-4#|||||||||||||
|generators ultra-low emission|259,000,000|43,214,650|13,238,513|||56,453,163|66.84%|66.84%||||Other|
|renovation project|||||||||||||
|Zhongyue 1, 2 # generator||||||||||||Borrowing,|
||531,200,000|317,584,933|30,395,014|||347,979,947|65.51%|100%|9,595,833|7,295,556|4.90%||
|units alteration project||||||||||||proprietary|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||||||funding|
|Other infrastructure||||||||||||
|||462,343,094|140,412,273|37,982|332,218|602,385,167|||||Other|
|construction projects||||||||||||
|Technology improvement and||||||||||||
|||356,532,229|219,732,973|173,845,390|796,656|401,623,156|||||Other|
|other projects||||||||||||
|Total|24,501,247,700|8,620,853,066|1,357,168,005|700,236,000|1,767,198|9,276,017,873|--|--|470,299,411|107,776,324|--|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018（3）Provision for impairment of construction projects
In RMB
||||
|-|-|-|
|Items|Amount|Reason|

Other notes
21. Engineering Material
In RMB
||||
|-|-|-|
|Items|End of term|Beginning of term|
|Spectial equipment||34,372,179|
|Spectial Material|1,520,320|1,496,854|
|Total|1,520,320|35,869,033|

 Othernotes：
22.Liquidation of fixed assets
In RMB
||||
|-|-|-|
|Items|End of term|Beginning of term|
|Power Equipment parts scrapped due to tec|||
||22,879,388|14,622,066|
|hnical innovation|||
|Other equipment|328,818|40,167|
|Total|23,208,206|14,662,233|

 Othernotes：
23. Productive biological assets
(1) Measured by cost
□ Applicable√ Not applicable
(2) Measured by fair value
□ Applicable√ Not applicable
24. Oil-and-gas assets
□ Applicable√ Not applicable
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 25. Intangible assets
（1）Information
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||||||Electric|||
|||||||||transmission|||
||||Non-patent||||Transportation||||
|Items|Land use right|Patent||Software|Franchise right|Sea use right||project and|Other|Total|
||||Technology||||project||||
|||||||||microwave|||
|||||||||project|||
|I. Original price|||||||||||
|1.Opening balance|1,812,995,669||812,297|109,832,029|13,720,736|129,906,544|22,468,672|442,517,684|138,450|2,532,392,081|
|2.Increased amount ofthe|||||||||||
||||17,845|2,906,569|||||8,360,328|11,284,742|
|period|||||||||||
|(1) Purchase||||2,906,569|||||8,360,328|11,266,897|
|(2)Internal Development|||17,845|||||||17,845|
|(3)Increased of Enterprise|||||||||||
|Combination|||||||||||
|3.Decreased amount of the period|||84,000|1,651,145|||||8,360,328|10,095,473|
|（1）Disposal|||84,000|1,651,145|||||8,360,328|10,095,473|
|4. Balance at period-end|1,812,995,669||746,142|111,087,453|13,720,736|129,906,544|22,468,672|442,517,684|138,450|2,533,581,350|
|II.Accumulated amortization|||||||||||
|1. Balance at period-beginning|295,026,101||414,369|79,987,831|9,910,705|20,484,400|21,447,068|405,126,139||832,396,613|
|2. Increase in the current period|20,032,020||99,081|5,486,015|366,236|1,034,226||||27,017,578|
|(1) Withdrawal|20,032,020||99,081|5,486,015|366,236|1,034,226||||27,017,578|
|3.Decreased amount of the period|||84,000|1,545,309||||||1,629,309|
|（1）Disposal|||84,000|1,545,309||||||1,629,309|
|4. Balance at period-end|315,058,121||429,450|83,928,537|10,276,941|21,518,626|21,447,068|405,126,139||857,784,882|
|III. Impairment provision|||||||||||
|1. Balance at period-beginning|||||||1,021,604|33,189,374||34,210,978|
|2. Increase in the current period|||||||||||
|(1) Withdrawal|||||||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|3.Decreased amount of the period||||||||||
|（1）Disposal||||||||||
|4. Balance at period-end||||||1,021,604|33,189,374||34,210,978|
|4. Book value||||||||||
|1.Book value at period -end|1,497,937,548|316,692|27,158,916|3,443,795|108,387,918||4,202,171|138,450|1,641,585,490|
|2.Book value at period-beginning|1,517,969,568|397,928|29,844,198|3,810,031|109,422,144||4,202,171|138,450|1,665,784,490|

 The intangible assets by the end of the formation of the company's internal R& D accounted of the proportion of the balance of intangible assets
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018⑵Details of Land use right failed to accomplish certification of property
In RMB
||||
|-|-|-|
|Items|Book value|Reason|
|Land use right|46,622,491|Land use approval procedure in progress|

 Othernotes：
26. Development expenditure
In RMB
||||||
|-|-|-|-|-|
||Beginning|||Ending|
|Items||Increase in the period|Decrease in period||
||balance|||balance|
|R & D|||||
||0|220,000||220,000|
|expenses|||||
|Total|0|220,000||220,000|

 Othernotes：
27. Goodwill
(1) Original book value of goodwill
In RMB
||||||
|-|-|-|-|-|
|Name of the investees or the eventsformed goodwill|||||
||Opening balance|Increase|Decrease|Closing balance|
|Province Wind Power|2,449,886|||2,449,886|
|Linchang Company|25,036,894|||25,036,894|
|Total|27,486,780|||27,486,780|

（2）Impairment tprovision of goodwill
In RMB
||||||
|-|-|-|-|-|
|Name of the|||||
|investees or the|||||
||Opening balance|Increase|Decrease|Closing balance|
|events formed|||||
|goodwill|||||

Notes of the testing process of goodwill impairment, parameters and the recognition method of goodwill
impairment losses:
Other notes:
28.Long-term amortization expenses
In RMB
|||||||
|-|-|-|-|-|-|
||Balance in|Increase at this|Amortization|||
|Items||||Other decrease|Balance in year-end|
||year-begin|period|balance|||
|Leasehold||||||
||5,689,613|39,217|649,962|0|5,078,868|
|improvement||||||
|Long-term lease||||||
||19,343,794|0|1,014,083|0|18,329,711|
|charges||||||
|Other|1,973,964|48,356|9,403|0|2,012,917|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||
|-|-|-|-|-|-|
|Total|27,007,371|87,573|1,673,448|0|25,421,496|

 Other notes:
29.Deferred income tax assets/deferred income tax liabilities
(1)Details of the un-recognized deferred income tax assets
In RMB
||||||
|-|-|-|-|-|
||Balance in year-end||Balance in year-begin||
|Items|Deductible temporary|Deferred income tax|Deductible temporary|Deferred income tax|
||difference|assets|difference|assets|
|Provision for asset|||||
||591,175,459|147,786,043|601,414,037|150,345,688|
|impairment|||||
|Deductible losses|533,806,281|135,767,775|543,075,416|135,768,855|
|Depreciation for fixed|||||
||76,893,416|19,223,353|76,893,416|19,223,353|
|assets|||||
|Employee benefits|||||
||86,241,170|21,560,293|86,241,170|21,560,293|
|payable|||||
|Net income from testrun|||||
|included in construction|117,089,330|26,510,083|117,089,330|26,510,083|
|in progress|||||
|Government grant|56,576,917|14,144,229|56,576,917|14,144,229|
|Amortisation of land use|||||
||3,170,586|792,647|3,170,586|792,647|
|right|||||
|Intra-Group transactions|193,909,804|48,477,451|202,928,868|50,732,217|
|Total|1,658,862,963|414,261,874|1,687,389,740|419,077,365|

 (2)Details of the un-recognized deferred income tax liabilities
In RMB
||||||
|-|-|-|-|-|
||Balance in year-end||Balance in year-begin||
|Items|||||
||Temporarily Deductable|Deferred Income Tax|Temporarily Deductable|Deferred Income Tax|
||or Taxable Difference|liabilities|or Taxable Difference|liabilities|
|Changes in fair value of|||||
||91,195,279|22,798,819|153,664,369|38,416,092|
|tradable financial assets|||||
|Net incme/expensess|||||
|included in the|37,809,283|9,452,322|37,809,283|9,452,322|
|Construction in project|||||
|Appreciation of|||||
||89,825,196|22,456,299|91,379,088|22,844,772|
|acquisition subsidiaries|||||
|Total|218,829,758|54,707,440|282,852,740|70,713,186|

 (3) Deferred income tax assets or liabilities listed by net amount after off-set
In RMB
||||||
|-|-|-|-|-|
||Trade-off between the|End balance of deferred|Trade-off between the|Opening balance of|
|Items|deferred income tax|income tax assets or|deferred income tax|deferred income tax|
||assets and liabilities|liabilities after off-set|assets and liabilities at|assets or liabilities after|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
||||period-begin|off-set|
|Deferred income tax||383,354,821||372,553,039|
||-30,907,053||-46,524,326||
|assets|||||
|Deferred income||23,800,387||24,188,860|
||-30,907,053||-46,524,326||
|liabilities|||||

(4)Details of income tax assets not recognized
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Deductible temporary difference|936,551,327|936,551,327|
|Deductible loss|647,719,380|587,890,568|
|Total|1,584,270,707|1,524,441,895|

 (5)Deductible losses of the un-recognized deferred income tax asset will expire in the following years
In RMB
|||||
|-|-|-|-|
|Year|Balance in year-end|Balance in year-begin|Remark|
|2018|2,504,832|2,504,832||
|2019|8,513,773|8,513,773||
|2020|5,008,444|5,008,444||
|2021|148,194,058|148,194,058||
|2022|423,669,461|423,669,461||
|2023|59,828,812|||
|Total|647,719,380|587,890,568|--|

Othernotes：
30 .Other non-current assets
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Prepayments for construction fund|458,299,003|350,347,973|
|Unrealised losses on sale and lease back|164,317,675|173,916,629|
|Prepayments for equipment fund|162,119,598|165,761,100|
|Prepayments for land|3,732,680|3,732,680|
|Other|741,176|889,151|
|Total|789,210,132|694,647,533|

 Othernotes：
31.Short–term loans
（1）Short-term loans by category
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Credit loans|10,035,000,000|9,270,000,000|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Total|10,035,000,000|9,270,000,000|

Notes：
(2) Situation of Overdue Outstanding Short-Term Borrowing
Final overdue outstanding short-term borrowing was zero, and situation of important overdue outstanding short-term borrowing was as follows:
In RMB
||||||
|-|-|-|-|-|
|Unit|Closing balance|Interest rate|Time|Overdue interest rate|

 Othernotes：
32. Financial liabilities measured at fair value through current profit and loss
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Othernotes：
33. Derivative financial liabilities
□Applicable√ Not applicable
34. Note payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Commercial acceptance|0|0|
|Bank acceptance bills|379,154,349|297,611,800|
|Total|379,154,349|297,611,800|

 Amount due in next fiscal period is RMB0.00.
35. Account payable
（1）Account payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Fuel payable|2,549,155,940|1,530,075,127|
|Materials and spare parts payable|508,121,868|483,460,431|
|Management fee payable|140,818,531|89,461,265|
|Other|247,777,465|116,030,438|
|Total|3,445,873,804|2,219,027,261|

（2）Significant accounts payable that aged over one year
In RMB
||||
|-|-|-|
|||The reason for not repaid or carried forwar|
|Items|Balance in year-end||
|||d|
|||After both parties to confirm the amount|
|Fuel payable|11,753,524||
|||paid|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Materials and spare parts payable|23,919,364|Time arrangement for payable|
|Management fee payable|89,461,265|Time arrangement for payable|
|Other|885,156|Time arrangement for payable|
|Total|126,019,309|--|

Othernotes：
36.Received in advance
（1）Received in advance
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Advances for grid payment|827,575|1,713,424|
|Other|184,798|224,799|
|Total|1,012,373|1,938,223|

 (2) Accounts payable with major amount and aging of over one year
In RMB
||||
|-|-|-|
|Items|Closing balance|Reason|

（3）Information of unliquidated completed assets formed in the construction contract at the end of the period
In RMB
|||
|-|-|
|Items|Amount|

Othernotes：
37. Employee compensation payable
(1)Classification of employee compensation payable
In RMB
||||||
|-|-|-|-|-|
|Items|Balance in year-begin|Increase at this period|Decrease at this period|Balance in year-end|
|I. Short –term wages|140,101,582|637,509,323|590,161,560|187,449,345|
|II. Welfare afterlwaving|||||
|of position-fixed||87,840,673|87,840,673||
|provision scheme|||||
|III. Termination benefit|17,637,046|7,627,657|7,391,025|17,873,678|
|Total|157,738,628|732,977,653|685,393,258|205,323,023|

（2）Short-term remuneration
In RMB
||||||
|-|-|-|-|-|
|Items|Balance in year-begin|Increase in this period|Payable in this period|Balance in year-end|
|1.Wages, bonuses,|||||
||50,978|461,286,210|422,361,314|38,975,874|
|allowances and subsidies|||||
|2.Employee welfare|1,864,884|30,709,908|32,260,881|313,911|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
|3. Social insurance|||||
||50,409,762|34,207,639|25,682,034|58,935,367|
|premiums|||||
|Including：Medical|||||
||50,409,762|31,802,045|23,276,440|58,935,367|
|insurance|||||
|Work injury insurance||913,648|913,648||
|Maternity insurance||1,491,946|1,491,946||
|Other|||||
|4. Public reserves for|||||
|||61,606,082|61,606,082||
|housing|||||
|5.Union funds and staff|||||
||82,841,668|38,062,977|35,189,155|85,715,490|
|education fee|||||
|8.Other|||||
||4,934,290|11,636,507|13,062,094|3,508,703|
|Short-term remuneration|||||
|Total|140,101,582|637,509,323|590,161,560|187,449,345|

（3）Defined contribution plans listed
In RMB
||||||
|-|-|-|-|-|
|Items|Balance in year-begin|Increase in this period|Payable in this period|Balance in year-end|
|1. Basic old-age|||||
||0|64,520,553|64,520,553|0|
|insurance premiums|||||
|2.Unemployment|||||
||0|1,701,968|1,701,968|0|
|insurance|||||
|3. Annuity payment||21,618,152|21,618,152||
|Total||87,840,673|87,840,673||

Othernotes：
38.Tax Payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|VAT|272,341,172|159,547,521|
|Enterprise Income tax|214,826,641|59,224,530|
|Individual Income tax|4,011,332|29,612,341|
|City Construction tax|5,314,229|3,500,667|
|Land use tax|6,873,548|14,990,255|
|Discharge fees|0|2,996,840|
|House property Tax|26,495,646|2,877,522|
|Education surcharges|4,443,925|2,895,952|
|Environmental protection tax|2,225,123||
|Other|9,405,603|1,639,774|
|Total|545,937,219|277,285,402|

Othernotes：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 39. Interest payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Long-term loans interest of installment and|||
||81,263,909|36,701,382|
|interest charge|||
|Enterprise bond interest|15,288,925|50,486,869|
|Short term loan interest payable|11,709,102|11,010,687|
|Other|354,166|354,166|
|Total|108,616,102|98,553,104|

 Interest overdue withoutpaid：
In RMB
||||
|-|-|-|
|Borrower|Amount|Reason|

Othernotes：
40. Dividends payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Common dividends|9,703,930|9,703,930|
|Total|9,703,930|9,703,930|

 Other explanation, including dividends payable with over one yearage and disclosure un-paymentreasons： 41.Other payable
（1）Disclosure by nature
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Construction and equipment payable|3,327,361,062|3,430,308,319|
|Engineering quality guarantee payable|195,098,255|156,112,962|
|State Oceanic Administration penalty|||
||172,144,350|172,144,350|
|payable|||
|Volume Purchase payable|4,000,000|4,000,000|
|Advance payment|7,655,833|12,726,072|
|Other|170,823,560|133,220,968|
|Total|3,877,083,060|3,908,512,671|

 (2) Other payables with large amount and aging of over one year
In RMB
||||
|-|-|-|
|Items|End of term|Reason|
|Construction and equipment payable|540,764,879||
|State Oceanic Administration penalty|||
||172,144,350||
|payable|||
|Engineering quality guarantee payable|68,696,174||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Volume Purchase payable|4,000,000||
|Other|57,599,186||
|Total|843,204,589|--|

Other notes
Mainly used to cope with project funds and retention money. Since the project has not finished the project and acceptance and final s ettlement or in the warranty period of acceptance, the project funds and retention money has not been settled.
42. Divided into liability held for sale
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Othernotes：
43.Non-current liabilities due within 1 year
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Long-term loans due in 1 year|2,454,827,399|1,445,497,943|
|Bond payable due in 1 year||1,197,935,476|
|Long-term Account payable due in 1 year|291,893,306|369,256,941|
|Total|2,746,720,705|3,012,690,360|

 Othernotes：
44.Other current liabilities
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Short-term bond payable|501,475,694|0|
|||0|
|Total|501,475,694||

Changes in short-term debenturespayable：
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||||||Balance|||Amortisa|||
||||||||||Repay||
||||||at the|Issuance||tion of||Balance at|
|||Issuance|Maturit|Issuance|||Interest at||ment||
|Name|Face value||||beginnin|during the||siscounts||the end of|
|||date|y period|amounts|||face value||for the||
||||||g of the|year||or||the year|
||||||||||period||
||||||year|||premium|||
|First batch of|||||||||||
|short-term|||||||||||
|financing bonds|||||||||||
|issued by|||||||||||
||500,000,000|06/06/2018|180天|500,000,000|0|500,000,000|1,475,694|0|0|501,475,694|
|Guangdong|||||||||||
|Electric Power|||||||||||
|Development Co.,|||||||||||
|Ltd. of 2018|||||||||||
|Total|--|--|--|500,000,000||500,000,000|1,475,694|||501,475,694|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Othernotes：
45.Long-term borrowings
（1）Long-term term borrowings
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Pledged borrowings|2,804,420,143|2,489,399,132|
|Mortgage borrowings|85,000,000|85,000,000|
|Guarantee loan|13,834,275,771|1,606,812,500|
|Credit loans|1,625,598,751|15,284,512,237|
|Total|18,349,294,665|19,465,723,869|

 Notes of short-term loans category:
Other notes including interest rate range:
46.Bond payable
（1）Bond payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|16 Pinghai01|698,413,826|698,168,211|
|12 Yudean Bond|38,718,405||
|Total|737,132,231|698,168,211|

（2）Changes of bonds payable(Not including the other financial instrument of preferred stock and perpetual capital securities that classify as financial liability
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||The||||||
||||||||Withdraw|Overflow||||
|Name of||Issue|Perio||Opening|curre|||Pay in current||Closing|
||Book value|||Issue amount|||interest at|discount||Other||
|the bond||date|d||balance|nt|||period||balance|
||||||||par|amount||||
|||||||issue||||||
|16||2016/|3+2|||||||||
||700,000,000|||700,000,000|698,168,211|0|10,910,278|-10,664,663|0||698,413,826|
|Pinghai01||9/26|years|||||||||
|12 Yudean||2013/|5+2|||||||||
||1,200,000,000|||1,200,000,000|0|0|476,429|0|1,159,693,500|1,197,935,476|38,718,405|
|Bond||3/18|years|||||||||

(3) Note to conditions and time of share transfer of convertible bonds
（4）Other financial instruments that are classified as financial liabilities
The issuance of preferred stock and other financial instruments such as perpetual debt
Table of changes in financial instruments such as preferred stock and perpetual debt
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Balance in year-begin||Increase at this period||Decrease at this period||Balance in year-end||
|External|||||||||
|financial|Amount|Book value|Amount|Book value|Amount|Book value|Amount|Book value|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||
|-|
|instruments|

Other Notes
47. Long-term payable
(1) Long-term payable listed by nature of the account
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Financing lease|1,935,988,562|1,458,259,241|
|Share repurchase payable|90,000,000|90,000,000|
|Total|||

Other Notes
48. Long-term employee salary payable
（1）Long-term employee salary payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|II. Termination benefits|44,022,009|52,525,697|
|III. Other Long-term benefits|32,333,628|39,097,210|
|Total|76,355,637|91,622,907|

 (2) Changes of defined benefit plans
Present worth of defined benefit plans obligation:
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Planassets：
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Net liabilities(net assets) of defined benefit plans
In RMB
||||
|-|-|-|
|Items|Closing balance|Opening balance|

Notes to the influence of the content and related risk of defined benefit plans to the future cash flows, time and uncertainty of the Company:
Notes to analysis results of major actuarial assumptions and sensibility of defined benefit plans
Other notes:
49. Specific payable
In RMB
|||||||
|-|-|-|-|-|-|
|Items|Beginning of term|Increased this term|Decreased this term|End of term|Reason|
|Supply of water,||||||
||39,645,011|20,843,665|2,575,169|57,913,507||
|electricity and heat and||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||
|-|-|-|-|-|-|
|property management||||||
|Supporting funds for|24,960,000|||||
|||||24,960,000||
|expansion||||||
|Total|64,605,011|20,843,665|2,575,169|82,873,507|--|

Othernotes：
50. Estimates liabilities
In RMB
|||||
|-|-|-|-|
|Items|Balance in year-end|Balance in year-begin|Reason|

Othernotes：
51.Deferred income
In RMB
|||||||
|-|-|-|-|-|-|
|Items|Beginning of term|Increased this term|Decreased this term|End of term|Reason|
|Government subsidy|142,520,263|0|2,073,849|140,446,414||
|Total|142,520,263|0|2,073,849|140,446,414|--|

Details of governmentsubsidies：
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||||||Amount of||||
|||New|Amount|Other income|||||
||||||cost|Other||Asset-related|
||Beginning of|subsidy in|transferred to|recorded in|||||
|Items|||||deducted in|chang|End of term|orincome-rel|
||term|current|non-operational|the current|||||
||||||the current|es||ated|
|||period|income|period|||||
||||||period||||
|Shajiao A Zhenkou||||||||Related to|
||28,560,022||||||28,560,022||
|Pump house||||||||assets|
|||||||||Related to|
|Energy saving funds|20,863,104|||1,231,347|||19,631,757||
|||||||||assets|
|Tax refund for|||||||||
|||||||||Related to|
|PRC-produced|17,221,559||||||17,221,559||
|||||||||assets|
|equipment|||||||||
|Development and|||||||||
|||||||||Related to|
|competitiveness funds|8,666,666||||||8,666,666||
|||||||||assets|
|from SASAC|||||||||
|Incentives for energy|||||||||
|efficiency of power||||||||Related to|
||8,781,631||||||8,781,631||
|plant by Dongguan||||||||assets|
|city|||||||||
|5# generation set of||||||||Related to|
||3,076,924||||||3,076,924||
|desulfurization project||||||||assets|
|Expansion on flow||||||||Related to|
||3,887,055||||||3,887,055||
|reconstruction project||||||||assets|
|Sha A – 2016 central|||||||||
|||||||||Related to|
|finance energy saving|3,783,124||||||3,783,124||
|||||||||assets|
|fund|||||||||
|Refurbishment on air||||||||Related to|
||3,093,442||||||3,093,442||
|preheater||||||||assets|
|Dianbai Reshui wind|3,000,000||||||3,000,000|Related to|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
|power plant project||||assets|
|Special prize funds of|||||
|recycle economy and||||Related to|
||2,707,321||2,707,321||
|energy saving by||||assets|
|Shenzhen city|||||
|Refurbishment on air||||Related to|
||2,585,029||2,585,029||
|preheater||||assets|
|Special funds for|||||
|||||Related to|
|differential electricity|1,026,886|148,696|878,190||
|||||assets|
|price|||||
|||||Related to|
|Water-freshing project|1,076,924||1,076,924||
|||||assets|
|Special prize funds of|||||
|recycle economy and||||Related to|
||923,896|101,051|822,845||
|energy saving by||||assets|
|Shaoguan city|||||
|Circulating water|||||
|pump special fund for||||Related to|
||1,000,000||1,000,000||
|technological||||assets|
|renovation|||||
|1&2# Air preheater||||Related to|
||1,000,000||1,000,000||
|energy saving project||||assets|
|Social security|||||
|treatment clearing|||||
|||||Related to|
|account relating to|102,370||102,370||
|||||income|
|firm’s stable position|||||
|subsidy|||||
|Comprehensive|||||
|technology upgrading|||||
|||||Related to|
|for the energy saving|10,000,000||10,000,000||
|||||assets|
|of 1&2# generator|||||
|units turbine|||||
|Second incentives for|||||
|comprehensive and|||||
|typical demonstration||||Related to|
||8,100,000||8,100,000||
|projects under||||assets|
|financial policies of|||||
|energy saving|||||
|Energy saving funds|||||
|used as policy||||Related to|
||4,165,231|195,623|3,969,608||
|liquidation subsidies||||assets|
|in previous year|||||
|Government subsidies|||||
|from the financial|||||
|||||Related to|
|treasury payment|3,568,379|151,258|3,417,121||
|||||assets|
|centre of Qujiang|||||
|District, Shaoguan|||||
|Specific funds for|||||
|denitrification and|||||
|energy saving||||Related to|
||5,330,700|245,874|5,084,826||
|reconstruction of||||assets|
|300MW generator|||||
|units.|||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
|Total|142,520,263|2,073,849|140,446,414|--|

 Othernotes：
52.Other Non-current liabilities
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Capital injection|16,405,569|16,405,569|
|Total|16,405,569|16,405,569|

 Othernotes：
As at 31 December 2017 and June 30,2018, theGroup’s other non-current liabilities represented the capital injection received by Yuejiang Power from minority shareholders. However, such capital injection was recorded as other non-current liabilities as the registration for changes of business license has not been completed.
53.Stock capital
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|||Changed（+，-）||||||
||Balance in|||Capitalization|||Balance in|
|||Issuance of||||||
||year-begin||Bonus shares|of public|Other|Subtotal|year-end|
|||new share||||||
|||||reserve||||
|Total of capital|5,250,283,986.00||||||5,250,283,986.00|
|shares||||||||

 Othernotes：
54. Other equity instruments
(1) Basic information of preferred stock, perpetual capital securities and other financial instruments
outstanding issued at period-end
(2) Change list of preferred stock, perpetual capital securities and other financial instruments outstanding
issued at period-end
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
|Financial|Opening period||Increase||Decrease少||Closing period||
|instruments|||||||||
|outstanding|Amount|Book value|Amount|Book value|Amount|Book value|Amount|Book value|
|issued|||||||||

Changes, reason of change and basis of relevant accounting treatment of other equity instruments in reporting period:
Notes:
55. Capital reserves
In RMB
||||||
|-|-|-|-|-|
|Items|Year-beginning balance|Increase in the current|Decrease in the current|Year-end balance|
|||period|period||
|Share premium|4,445,477,866|||4,445,477,866|
|Other capital reserves|2,919,327|||2,919,327|
|Estimate Increase|119,593,718|||119,593,718|
|Investment from Yudean|395,000,000|||395,000,000|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Group|||
|Transfer of original|||
|institutional capital|20,474,592|20,474,592|
|reserve|||
|Enjoy the rights of associ|||
|ated enterprise base on sh|20,785,182|20,785,182|
|are holding|||
|Total|5,004,250,685|5,004,250,685|

 Other exlanation, including changes and reasons forchanges：
56.Treasury stock
In RMB
||||||
|-|-|-|-|-|
||||Decrease in the current||
|Items|Year-beginning balance|Increase in the current||Year-end balance|
||||period||

Other notes, including changes and reason of change:
57. Other comprehensive income
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|||Amount of current period||||||
||||Less：|||||
|||Amount for t|Previously rec||After - tax a|After - tax at||
||Year-beginning||||||Year-end|
|Items||he period bef|ognized in prof|Less：Income|ttributable t|tributable to||
||balance||||||balance|
||||it or loss in oth|||||
|||ore income ta||tax|o the parent|minority sha||
||||er comprehensi|||||
|||x|||company|reholders||
||||ve income|||||
|2.Other comprehensive income|||||-46,851,817|||
|reclassifiable to profit or loss in|137,001,523|-62,469,090||-15,617,273|||90,149,706|
|subsequent periods||||||||
|Indluding：Share of other||||||||
|comprehensive income of the||||||||
|investee under the equity|21,753,244||||||21,753,246|
|method that w8ill be||||||||
|reclassified to profit or loss||||||||
|Gains or losses on changes in|||||-46,851,817|||
|fair value of available-for-sale|115,248,279|-62,469,090||-15,617,273|||68,396,462|
|financial assets||||||||
|Total Other comprehensive|137,001,523||||-46,851,817||90,149,706|
|||-62,469,090||-15,617,273||||
|income||||||||

Other explanation, including the active part of the hedging gains/losses of cash flow transfer to initial
recognization adjustment fro the arbitrageditems：
58. Special reserves
In RMB
||||||
|-|-|-|-|-|
||||Decrease in the current||
|Items|Year-beginning balance|Increase in the current||Year-end balance|
||||period||

Other notes, including changes and reason of change:
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 59. Surplus reserve
In RMB
||||||
|-|-|-|-|-|
|Items|Year-beginning balance|Increase in the current|Decrease in the current|Year-end balance|
|||period|period||
|Statutory surplus reserve|2,641,707,753|69,654,691||2,711,362,443|
|Optional surplus reserves|4,948,655,971|174,136,728||5,122,792,700|
|Total|7,590,363,724|243,791,419||7,834,155,143|

 Other explanation, including changes reasons forchanges：
60. Retained profits
In RMB
||||
|-|-|-|
|Items|Amount of this period|Amount of last period|
|Before adjustments: Retained profits in last periodend|||
||5,713,290,735|6,135,494,928|
|Adjustment period undistributed profit total|0|0|
|After adjustments: Retained profits at the periodbeginning|5,713,290,735||
|||6,135,494,928|
|Add: Net profit attributable to owners of theCompany for the period|||
||448,833,518|128,735,725|
|Less: Appropriation to statutory surplus reserve|69,654,691|212,960,545|
|Drawing discretionary surplus reserve|174,136,728|532,401,361|
|DrawingCommon risk provision|420,022,719|420,022,719|
|Less：Other|36,857||
|Retained profits at the period end|5,498,273,258|5,098,846,028|

 As regards the details of adjusted the beginning undistributed profits
(1)As the retroactive adjustment on Enterprise Accounting Standards and its related new regulations, the affected beginning undistributed profits are RMB 0.00.
(2) As the change of the accounting policy, the affected beginning undistributed profits are RMB 0.00.
(3) As the correction of significant accounting error, the affected beginning undistributed profits are RMB 0.00 . (4) As the change of consolidation scope caused by the same control, the affected beginning undistributed profits are RMB 0.00
(5) Other adjustment of the total affected beginning undistributed profits are RMB 0.00 .
61. Business income, Business cost
In RMB
||||||
|-|-|-|-|-|
||Amount of current period||Amount of previous period||
|Items|||||
||Income|Cost|Income|Cost|
|Main business|13,769,537,895|12,199,733,160|12,301,242,987|11,116,293,804|
|Other business|125,447,284|1,123,267|84,243,590|10,396,187|
|Total|13,894,985,179|12,200,856,427|12,385,486,577|11,126,689,991|

62. Business tax and subjoin
In RMB
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Urban construction tax|28,091,275|33,337,926|
|Education surcharge|13,922,867|22,968,052|
|Property tax|27,082,866|28,969,819|
|Land use tax|7,021,580|11,746,353|
|vehicle and vessel usage tax|94,146|139,338|
|Stamp tax|7,610,193|6,935,121|
|Local Educational Surcharges|9,171,847|4,211,962|
|Environmental protection tax|6,184,766|0|
|Other|353,025|210,087|
|Total|99,532,565|108,518,658|

 Other notes:
63.Sales expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Business expense|817,279|593,379|
|Employee’s remuneration|6,876,798|1,854,626|
|Publicity Expenses|92,459|16,136|
|Depreciation expenses|61,663|2,093|
|Advertising|0|68,154|
|Market transaction service charge|1,806,329|0|
|Other|661,602|254,070|
|Total|10,316,130|2,788,458|

 Other notes:
64.Administrative expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Employee’s remuneration|147,444,649|145,944,344|
|Depreciation expenses|21,770,448|23,689,115|
|Repair charge|1,900,338|2,334,351|
|Office expenses|4,691,502|4,765,055|
|Insurance expenses|1,492,619|1,287,175|
|Travel expenses|2,432,849|2,717,016|
|Board of directors|372,681|335,076|
|Entertainment expenses|1,701,606|1,635,200|
|Lowsuit expenses|548,624|502,783|
|Amortiation of Intangible assets|26,304,830|26,453,221|
|Sewage charges|0|10,527,064|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Consulting fee|758,257|1,662,697|
|Agency Charge|3,353,003|3,701,672|
|Tax fee|1,211|13,453|
|Property Management|8,534,397|10,341,583|
|Fire guard fee|20,205,693|16,957,562|
|Health afforestation fees|4,332,777|5,628,871|
|Other|25,861,400|27,467,088|
|Total|271,706,884|285,963,326|

 Othernotes：
65.Financial Expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Interest expenses|657,904,963|668,634,978|
|Interest income|-29,906,705|-32,830,879|
|Other|3,120,540|1,839,471|
|Total|631,118,798|637,643,570|

 Othernotes：
66.Loss of assets impairment
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|

 Othernotes：
67. Gains from changes in fair value
In RMB
||||
|-|-|-|
|Source of the gains from changes in fair|||
||Amount of this period|Amount of last period|
|value|||

Othernotes：
68. Investment income
In RMB
||||
|-|-|-|
|Items|Amount of this period|Amount of last period|
|Long-term equity investment income by equity|||
||272,404,985|225,418,910|
|method|||
|Hold the investment income during from|||
||18,256,500|2,124,000|
|available-for-sale financial assets|||
|Other|357,107||
|Total|291,018,592|227,542,910|

Othernotes：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 69. Assets disposal income
In RMB
||||
|-|-|-|
|Source|Amount of current period|Amount of previous period|
|Income form disposal of fixed assets|388,507|612,592|

 70.Other income
In RMB
||||
|-|-|-|
|Source|Amount of current period|Amount of previous period|
|Amortisation of government grant|2,073,849|2,065,231|
|VAT refund|4,559,728|5,092,977|
|2017 Nansha headquarters Enterprise|||
||9,990,000|0|
|Award|||
|Other|407,182|192,000|

 71. Non-Operation income
In RMB
|||||
|-|-|-|-|
|Items|Amount of current period|Amount of previous period|Recorded in the amount of the|
||||non-recurring gains and losses|
|Government Subsidy|3,087,100||3,087,100|
|Insurance indemnity|45,458,540|557,310|45,458,540|
|Other|4,063,261|1,096,627|4,063,261|
|Total|52,608,901|1,934,790|52,608,901|

 Government subsidy reckoned into current gains/losses
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
|||||Whether the|||||
|||||impact of|Whether|Amount of|Amount of|Assets-relate|
||Issuing||||||||
|Items||Reason|Nature|subsidies on the|special|current|previous|d/income|
||subject||||||||
|||||current profit|subsidies|period|period|-related|
|||||and loss|||||

Othernotes：
72．Non-current expenses
In RMB
|||||
|-|-|-|-|
||Amount of current period|Amount of previous period|The amount of non-operating|
|Items||||
||||gains & lossed|
|Foreign donations|550,000|60,000|550,000|
|Fine for delaying payment|395,966|32,317,140|395,966|
|Other|868,357|541,302|868,357|
|Total|1,814,323|32,918,442|1,814,323|

Othernotes：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 73. Income tax expenses
（1）Income tax expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Current income tax expense|308,558,550|201,520,623|
|Deferred income tax expense|-2,265,559|-57,560,692|
|Settlement difference adjustment|1,474,587|4,731,892|
|Total|307,767,578|148,691,823|

（2）Adjustment on accounting profit and income tax expenses
In RMB
|||
|-|-|
|Items|Amount of current period|
|Total profits|1,040,686,811|
|Income tax expenses calculated on legal / applicable tax rate|260,171,703|
|Impact of different tax rates of subsidiaries|-1,908,656|
|Effect of tax preferential from subsidiaries|1,474,587|
|Non-taxable income|-47,122,869|
|Cost, expense, and loss not deductible for tax purposes|847,064|
|Deductible losses of unrecognized deferred tax assets in current period|2,559,645|
|Temporary difference on unrecognized deferred tax assets in current period|94,305,749|
|Income tax expense|307,767,578|

 Othernotes：
74 .Other comprehensive income
More details can be seen in Note 57.
75.Items of Cash flow statement
（1）Other cash received from business operation
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Interest income|27,629,939|32,593,073|
|Government Subsidy|20,517,100|7,182,767|
|Insurance indemnity|46,053,407|8,879,625|
|Rent income|4,887,200|3,011,552|
|Other|115,162,269|56,204,282|
|Total|214,249,915|107,871,299|

Explanation on other cash received in relateion to perationactivities：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 (2)Other cash paid related to oprating activities
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Sewage charges|1,487,368|9,416,665|
|Insurance expenses|18,676,033|50,406,954|
|Equipment cleaning and hygiene green fee|11,320,655|19,328,512|
|Transportation fee|11,072,669|13,833,959|
|Fire guard fee|16,380,176|16,074,970|
|Business fee|1,787,193|1,802,406|
|Agency Charge|3,259,329|5,007,819|
|Office Expense|5,596,884|4,589,452|
|Travel expenses|3,334,922|4,115,623|
|Rental fee|5,065,084|6,470,575|
|Enterprise publicity expenses|1,714,510|1,380,424|
|Information system maintenance|2,475,084|3,020,926|
|Water and electrical|12,191,809|9,807,005|
|R&D|1,481,032|2,872,231|
|Property Management fee|14,805,188|9,809,876|
|Union expenses|7,710,630|5,527,990|
|Other|123,569,878|132,723,856|
|Total|241,928,444|296,189,243|

 Explanation on other cash paid in relation to perationactivities：
(3)Cash received related to other investment activities
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|

 Explanation on cash received from other investmentactivities：
(4)Cash paid related to other investment activities
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|

 Explanation on cash payable from other investmentactivities：
（5）Other cash received in relation to financing activities
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Fractional income||42,440|
|Total||42,440|

Explanation on other cash received in relation to financingactivities：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018（6）Cash paid related with financing activities
IIn RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Yuejia Compan paid the minority|||
||136,080,000|5,493,800|
|shareholders capital|||
|Total|136,080,000|5,493,800|

 Explanation on cash paid related with financingactivities：
76. Supplement Information for cash flow statement
（1）Supplement Information for cash flow statement
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|I. Adjusting net profit to cash flow from operating|||
||--|--|
|activities|||
|Net profit|732,919,233|279,712,809|
|Depreciation of fixed assets, oil and gas assets and|||
||1,676,623,536|1,893,466,852|
|consumable biological assets|||
||27,017,578|27,092,745|
|Amortization of intangible assets|||
|Amortization of Long-term deferred expenses|1,673,448|3,053,545|
|Loss on disposal of fixed assets, intangible assets|||
||-388,507|-612,592|
|and other long-term deferred assets|||
|Financial cost|682,245,650|687,249,045|
|Loss on investment|-291,018,592|-227,542,910|
|Decrease in deferred income tax assets|-10,801,782|-39,022,910|
|Increased of deferred income tax liabilities|-388,473|-12,896,565|
|Decrease of inventories|-478,765,296|-148,955,924|
||-590,048,116|-6,141,117|
|Decease of operating receivables|||
|Increased of operating Payable|2,046,464,029|-876,477,694|
|Net cash flows arising from operating activities|3,795,532,708|1,578,925,284|
|II. Significant investment and financing activities|||
||--|--|
|that without cash flows:|||
|III．Movement of cash and cash equivalents：|--|--|
|Ending balance of cash equivalents|5,928,583,780|4,896,743,201|
|Less: Beginning balance of cash equivalents|4,996,580,490|5,184,873,650|
|Net increase of cash and cash equivalents|932,003,290|-288,130,449|

 (2) Net Cash paid of obtaining the subsidiary
In RMB
|||
|-|-|
||Amount|
|Including|--|
|Including|--|
|Including|--|

Othernotes：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 (3) Net Cash receive of disposal of the subsidiary
In RMB
|||
|-|-|
||Amount|
|Including|--|
|Including|--|
|Including|--|

Othernotes：
（4）Composition of cash and cash equivalents
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-Beginning|
|I. Cash|5,928,583,780|4,996,580,490|
|Including：Cash at hand|51,361|37,745|
|Demand bank deposit|5,928,532,419|4,996,542,745|
|III. Balance of cash and cash equivalents at|5,928,583,780|4,996,580,490|
|the period end|||

Othernotes：
77. Note of statement of changes in the owner's equity
Explain "other" project name and adjustment amount of the adjustment of closing balance in previous year, etc.: 78. The assets with the ownership or use right restricted
In RMB
||||
|-|-|-|
|Items|Closing book value|Causation of limitation|
|Fixed assets|667,391,617|Long-term loans mortgage assets|
|||Unit construction financing Electricity bill|
|Account receivable|247,930,154||
|||pledge the transferor|
|Total|915,321,771|--|

Othernotes：
79. Foreign currency monetary items
(1) Foreign currency monetary items
In RMB
|||||
|-|-|-|-|
||Closing foreign currency||Closing convert to RMB|
|Items||Exchange rate||
||balance||balance|
|Monetary capital|--|--|12,084|
|Including：USD|190|6.44|1,233|
|HKD|12,882|0.84|10,861|
|Long –term loans|--|--|77,909,323|
|Including：USD|11,386,333|6.44|73,304,073|
|Euro|601,786|7.65|4,605,250|

 Othernotes：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 (2) Note to overseas operating entities, including important overseas operating entities, wich should be disclosed about its principal business place, function currency for bookkeeping and basis for the choice. In case of any change in function currency, the cause should be disclosed.
□ Applicable√ Not applicable
80. Hedging
Disclose hedging items by type of hedging as well as relevant arbitrage tool, qualitative and quantitative information for arbitrage project:
81.Other
VIII. Changes of consolidation scope
1. Enterprise consolidation not under the same control
（1）Business combinations not under common control in the reporting period
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||||||||Revenue of|Net profit of|
|||||||Recognition|||
||Timing of|Costs for|Proportion of|Method of|||the acquiree|the acquiree|
||||||Acquistition|basis of the|||
|Acquiree|acquisition of|acquisition of|equities|acquisition of|||from the|from the|
||||||date|acquisition|||
||equities|equities|acquired (%)|equities|||acquisition|acquisition|
|||||||date|||
||||||||date|date|

 Othernotes：
（2）Combination cost and goodwill
In RMB
||
|-|
|Combination cost|

Notes to determination method, consideration and changes of fair value of combined cost:
The main formation reason for the large goodwill:
Other notes:
(3) The identifiable assets and liabilities of acquiree at purchase date
In RMB
|||
|-|-|
|Fair value on the acquisition date|Book value on the acquisition date|

 Determination method for fair value of the identifiable assets and liabilities:
Contingent liability of the acquiree bear during combination:
Other explanation:
(4) The profit or loss from equity held by the date before acquisition in accordance with the fair value
measured again
Whether there is a transaction that through multiple transaction step by step to realize enterprises merger and gaining the controlduring the reporting period
□ Yes√ No
(5) Note to merger could not be determined reasonable consideration or Identifiable assets, Fair value of
liabilities of the acquiree at acquisition date or closing period of the merge
(6) Other notes:
2. Business combination under the same control
(1) Business combination under the same control during the reporting period
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
|Combined|Proportion of|Basis|Combination date|Recognition|Income from|Net profits|Income|Net profits|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||
|-|-|-|-|-|-|-|
|party|the profits|basis of|the|from the|during the|during the|
|||combination|period-begin|reporting|period of|period of|
|||date|to the|period to the|comparison|compairsion|
||||combination|combination|||
||||date of the|date of the|||
||||combination|combination|||

Othernotes：
(2) Combination cost
In RMB
||
|-|
|Combination cost|

Notes to contingent consideration or other changes:
Other notes:
(3) The book value of the assets and liabilities of the combined party at combining date
In RMB
|||
|-|-|
|Combination date|Last closing period|

Notes to contingent consideration or other changes:
Other notes:
3. Counter purchase
Basic information of trading, the basis of transactions constitute counter purchase, the retain assets , liabilities of the listed companies whether constituted a business and its basis, the determination of the combination costs, the amount and calculation of adjusted rights and interests in accordance with the equity transaction process.
4. The disposal of subsidiary
Whether there is a single disposal of the investment to subsidiary and lost control
□ Yes√ No
Whether there are multiple transactions step by step dispose the investment to subsidiary and lost control in reporting period
□ Yes√ No
5. Other reasons for the changes in combination scope
Notes to reasons for the changes in combination scope (Newly established subsidiary and subsidiary of liquidation) and relevant information:
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Subsidiary||Main||Registered||Business||Registered||shareholding||Acquiredway|
|||operation||place||nature||capital||ratio|||
|Guangdong Yudean ZhenchengEnergy Co., Ltd.|Maoming,Guangdong||Maoming,Guangdong||Electricpower||20,000,000||53.29%||Establish||

6.Other
IX. Equity in other entity
1. Equity in subsidiary
（1）Constitute of enterprise group
||||||||
|-|-|-|-|-|-|-|
|||Registered|Business nature|Share-holding ratio|||
|Subsidiary|Main operation|||||Acquired way|
|||place||Directly|Indirectly||
||||Electric||||
|Maoming Zhenneng|Maoming|Maoming||66.61%||Establish|
|Jianghai Power|Jieyang|Jieyang|Electric|65 %||Establish|
|Zhangjiang Wind Power|Zhanjiang|Zhangjiang|Electric|70 %||Establish|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||
|-|-|-|-|-|-|-|
|Anxin Electric Power Maintenance|Dongguan|Dongguan|Electric|100 %||Establish|
|Humen Power|Dongguan|Dongguan|Electric|60 %||Establish|
||||Electric||||
|Bohe Electric Power|Maoming|Maoming||100 %||Establish|
|||||||Business|
|Yuheng Electronic|Zhanjiang|Zhanjiang|Electric||76 %|combination under|
|||||||common contro|
||||Electric||||
|Xuwen Wind Power|Zhangjiang|Zhanjiang|||70 %|Establish|
|Huadu Natural gas|Guangzhou|Guangzhou|Electric|65 %||Establish|
||||Electric||||
|Dapu Power|Meizhou|Meizhou||100 %||Establish|
|Leizhou Wind Power|Leizhou|Leizhou|Electric|80 %|14 %|Establish|
||||Electric||||
|Dianbai Wind Power|Maoming|Maoming|||100 %|Establish|
|||||||Business|
|Zhanjiang Power|Zhangjiang|Zhangjiang|Electric|76 %||combination under|
|||||||common contro|
|||||||Business|
||||Electric||||
|Yuejia Power|Meizhou|Meizhou||58 %||combination under|
|||||||common contro|
|||||||Business|
|Yuejiang Power|Shaoguan|Shaoguan|Electric|90 %||combination under|
|||||||common contro|
|||||||Business|
||||Electric||||
|Zhongyue Energy|Zhanjiang|Zhanjiang||90 %||combination under|
|||||||common contro|
|Electric sales|Guangzhou|Guangzhou|Electric|100 %||Establish|
||||Electric||||
|Qujie Wind Power|Zhanjiang|Zhanjiang||100 %||Establish|
|Yangjiang Wind Power|Yangjiang|Yangjiang|Electric||100 %|Establish|
|||||||Business|
|||||||combinations|
||||Electric||||
|||||||involving|
|Lincang Energy|Lincang|Lincang||100 %|||
|||||||enterprises not|
|||||||under common|
|||||||contro|
|||||||Business|
|Guangqian Electric Power|Shenzhen|Shenzhen|Electric|100 %||combination under|
|||||||common contro|
|||||||Business|
||||Electric||||
|Huizhou Natural gas|Huizhou|Huizhou||67 %||combination under|
|||||||common contro|
|||||||Business|
||||Electric||||
|Pinghai Power Plant|Huizhou|Huizhou||45 %||combination under|
|||||||common contro|
|||||||Business|
|Shibeishan Wind Power|Jieyang|Jieyang|Electric||70 %||
|||||||combination under|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||
|-|-|-|-|-|-|-|
|||||||common contro|
|||||||Business|
||||Electric||||
|Red Bay Power|Shanwei|Shanwei||65 %||combination under|
|||||||common contro l|
|||||||Business|
|||||||combinations|
|||||||involving|
|Guangdong Wind Power|Guangzhou|Guangzhou|Electric|100 %|||
|||||||enterprises not|
|||||||under common|
|||||||contro|
|Tongdao Company|Huaihua, Hunan|Huihua|Electric|100 %||Establish|
|Pingyuan Wind power|Meizhou|Meizhou|Electric||100 %|Establish|
||||Electric||||
|Heping Wind power|Heyuan|Heyuan|||100 %|Establish|
|||||||Business|
|||||||combinations|
||||Electric||||
|||||||involving|
|Huilai Wind Power|Jieyang|Jieyang|||70 %||
|||||||enterprises not|
|||||||under common|
|||||||contro|
||||Electric||||
|Hongrui Technology|Shaoguan|Shaoguan|||90 %|Establish|
||||Electric||||
|Yongan Natural gas|Zhaoqing|Zhaoqing||90 %||Establish|
|||Xupu, Huaihai|Electric||||
|Xupu Yuefeng|Huaihua, Hunan||||100 %|Establish|
|||Hunan|||||
|||Wuxuan,|Electric||||
|Wuxuan Yuefeng|Guangxi||||100 %|Establish|
|||Guangxi|||||
||||Electric||||
|Pingdian Comprehensive|Huizhou|Huizhou|||45 %|Establish|
|Guangdong Yudean Zhencheng|||Electric||||
||Maoming|Maoming|||53.29%|Establish|
|Energy Co., Ltd.|||||||

Explanation on share-holding ratio in subsidiary different from ratio of votingright：
Pinghai power was bought by the Company in 2012 by offered non-public shares from Yudean. According to the agreement between Yudean and Huaxia Electric, which holds40% share interest in Pinghai Power, the delegated shareholder and director from Huaxia Electric maintain consensus with those of Yudean when exercising their voting rights during shareholder and board meeting; while after Yudean transferred its45% shareholding of Pinghai Power to the Company, the delegated shareholder and director from Huaxia Electric also maintain consensus with those of the Company when exercising their voting rights during shareholder and board meeting. On account of the above facts, with the control power of Pinghai Power, Huaxia Electric enjoys variable returns through involving in its relevant activities and has the ability to make use of its power to influence the amount of returns. Therefore, the Company owns the control power over Pinghai Power.
The voting rights proportion of the Company over its subsidiary: Zhanjiang Wind Power, Xuwen Wind Power, Zhanjiang Wind Power, Xuwen Wind Power, Leizhou Wind Power ,Yuejia Electric and Shibeishan are60.00%,60.00%,60.00%,56.00% and60.00%, respectively, determined based on relevant rules of thesesubsidiaries’ articles of association. As such, theCompany’s voting proportion and shareholding percentage are not consistent. Basis for controlling the invested entity with half or below voting rights held and without controlling invested entity but with over half and over votingrights：
Controlling basis for the structuring entity included in consolidatedrange：
Basis on determinning to be a agent orconsignor：
Othernotes：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018（2）Significant not wholly-owned subsidiaries
In RMB
||||||
|-|-|-|-|-|
|||Profit or loss attributable|||
||Holding proportion of||Dividend declared to|Closing balance of|
|Name||to non-controlling|||
||non-controlling interest||non-controlling interest|non-controlling interest|
|||interest|||
|Jinghai Power|35 %|31,447,248|73,436,079|1,218,236,113|
|Zhanjiang Power|24 %|23,275,453|24,408,218|969,086,014|
|Huizhou Natural gas|33 %|52,086,577|61,921,153|568,121,697|
|Pinghai Power plant|55 %|155,683,466|92,894,460|1,181,745,857|
|Red Bay|35 %|46,858,677|75,052,635|1,136,080,264|

 Othernotes：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018（3）Main financial information of significant not wholly-owned subsidiaries
In RMB
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
||Closing balance||||||Beginning balance||||||
|Subsidiaries||Non-current||Current|Non-current|Total|Current assets|Non-current||Current|Non-current|Total|
||Current assets||Total assets||||||Total assets||||
|||assets||liabilities|Liabilities|liabilities||assets||liabilities|Liabilities|liabilities|
|Jinghai Power|1,291,377,828|8,304,063,530|9,595,441,359|2,828,384,057|3,286,382,693|6,114,766,751|1,220,230,956|8,519,603,527|9,739,834,483|2,649,314,880|3,489,876,908|6,139,191,788|
|Zhanjiang|||||||||||||
||2,937,351,050|1,546,943,930|4,484,294,981|415,452,954|30,983,634|446,436,588|2,809,749,417|1,600,195,341|4,409,944,758|335,297,509|32,069,003|367,366,512|
|Power|||||||||||||
|Huizhou|||||||||||||
||498,388,297|3,330,693,138|3,829,081,435|936,930,535|1,170,570,000|2,107,500,535|531,864,001|2,867,325,353|3,399,189,354|819,036,708|828,770,000|1,647,806,708|
|Natural gas|||||||||||||
|Pinghai Power|||||||||||||
||1,417,733,360|4,693,337,876|6,111,071,236|1,472,131,579|2,490,310,826|3,962,442,405|1,009,047,306|4,875,445,336|5,884,492,642|1,359,960,430|2,490,065,211|3,850,025,641|
|plant|||||||||||||
|Red Bay|995,062,116|6,018,637,910|7,013,700,026|1,860,756,414|1,907,000,000|3,767,756,414|1,010,276,845|6,165,453,533|7,175,730,378|1,942,232,599|1,907,000,000|3,849,232,599|

 In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Current term||||Last term||||
||||Total||||Total||
|Subsidiaries||||Cash flow from||||Cash flow from|
||Operating revenue|Net profit|comprehensive||Operating revenue|Net profit|comprehensive||
|||||operating activities||||operating activities|
||||income||||income||
|Jinghai Power|2,554,248,635|89,849,281|89,849,281|622,618,317|2,039,554,638|24,957,651|24,957,651|413,666,161|
|Zhanjiang Power|1,078,438,774|96,981,054|96,981,054|218,826,214|788,546,128|54,502,661|54,502,661|179,237,568|
|Huizhou Natural|||||||||
||819,208,378|157,838,111|157,838,111|437,818,955|674,243,898|55,574,470|55,574,470|-52,602,855|
|gas|||||||||
|Pinghai Power plant|1,859,200,437|283,060,847|283,060,847|268,101,867|1,648,628,423|249,002,746|249,002,746|545,126,473|
|Red Bay|2,130,697,649|133,881,934|133,881,934|403,607,731|1,859,528,654|82,409,392|82,409,392|444,425,499|

 Other notes
(4) Significant restrictions of using enterprise group assets and pay off enterprise group debt
(5) Provide financial support or other support for structure entities incorporate into the scope of
Other notes
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 2. The transaction of the Company with itsowner’s equity share changed but still controlling the subsidiary (1) Note toowner’s equity share changed in subsidiary
(2) Thetransaction’s influence to equity of minority shareholders and attributable to the owner's equity of the parent company
3. Equity in joint venture arrangement or associated enterprise
(1) Significant joint venture arrangement or associated enterprise
||||||||
|-|-|-|-|-|-|-|
|Name of|Main Places of|Registration|Nature of|Shareholding Ratio (%)||Obtaining|
|Subsidiary|Operation|Place|Business|direct|indirect|Method|
|Joint ventures：|||||||
|Industry Fuel|Guangzhou|Guangzhou|Fuel trade|50 %||Equity method|
|Associates ：|||||||
|Yudean Finance|Guangzhou|Guangzhou|Finance|25 %||Equity method|
|Shanxi Yudean|||||||
||Taiyuan|Taiyuan|Coal investment|40 %||Equity method|
|Enerty|||||||
|Taishan Power|||||||
||Taishan|Taishan|Electric|20 %||Equity method|
|Generation|||||||

Notes to holding proportion of joint venture or associated enterprise different from voting proportion:
Basis of holding less than20% of the voting rights but has a significant impact or holding20% or more voting rights but does not have a significant impact:
（2）Main financial information of Significant joint venture
In RMB
||||
|-|-|-|
||Amount of current period|Amount of previous period|
||Industry Fuel|Industry Fuel|
|Current assets|3,526,766,109|3,023,652,373|
|Including ：Cash and cash equivalent|811,774,238|1,486,090,950|
|Non-current assets|69,698,622|238,031,473|
|Total of assets|3,596,464,731|3,261,683,846|
|Current liabilities|2,619,543,245|2,049,097,586|
|Total liabilities|2,619,543,245|2,049,097,586|
|Attributable to shareholders of the parent|||
||976,921,487|1,212,586,260|
|company|||
|Share of net assets calculated by stake|488,460,743|606,293,130|
|--Other|83,002,171|-614,728|
|Book value of equity investment in joint|||
||571,462,914|605,678,402|
|venture|||
|Business income|12,060,789,171|9,762,707,487|
|Financial expenses|3,124,608|-5,148,310|
|Income tax|27,987,136|23,646,185|
|Net profit|82,556,997|70,938,555|
|Total comprehensive income|82,556,997|70,938,555|
|Dividends received from the joint venture|||
||75,493,986|59,231,115|
|this year|||

Other notes
(3) Main financial information of significant associated enterprise
In RMB
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||||
|-|-|-|-|-|-|-|
||Closing balance/This period|||Opening balance/Last period|||
||||Taishan Power|||Taishan Power|
||Yudean Finance|Shanxi Enerty||Yudean Finance|Shanxi Enerty||
||||Generation|||Generation|
|Current assets|7,154,248,179|228,631,586|1,692,269,597|8,683,630,097|120,102,116|940,022,602|
|Non-current assets|13,719,609,159|3,335,028,687|10,352,894,018|13,100,038,881|3,144,442,198|13,059,475,755|
|Total of assets|20,873,857,339|3,563,660,273|12,045,163,615|21,783,668,978|3,264,544,314|13,999,498,357|
|Current liabilities|18,126,279,205|95,273,278|2,771,414,017|19,034,164,167|73,441,200|2,890,641,148|
|Non-current|||||||
|||150,000,000|1,335,500,000||150,000,000|1,300,500,000|
|liabilities|||||||
|Total liabilities|18,126,279,205|245,273,278|4,106,914,017|19,034,164,167|223,441,200|4,191,141,148|
|Minority shareholder|||||||
||2,747,578,134|3,318,386,995|7,938,249,598|2,749,504,811|3,041,103,114|9,807,378,045|
|Equity|||||||
|Attributable to|||||||
|shareholders of the|686,894,536|1,327,354,798|1,587,649,920|687,376,205|1,216,441,246|1,961,475,609|
|parent company|||||||
|Share of net assets|||||||
||13,325,000|||13,325,000|||
|calculated by stake|||||||
|--Goodwill|||455,525,498||||
|Book value of equity|||||||
|investment in|700,219,536|1,327,354,798|2,043,175,418|700,701,205|1,216,441,246|1,961,475,609|
|associates|||||||
|Business income|353,187,954|786,668|4,256,108,141|288,014,924|558,089|3,240,744,080|
|Net profit|226,957,586|277,283,881|498,549,464|184,657,686|262,966,125|315,111,648|
|Total comprehensive|||||||
||226,957,586|277,283,881|498,549,464|184,657,686|262,966,125|315,111,648|
|income|||||||
|Dividends received|||||||
|from the associated|||||||
||57,221,065.82|||42,295,033|8,000,000||
|enterprise this|||||||
|year|||||||

Other notes
(4) Summary financial information of insignificant joint venture or associated enterprise
In RMB
||||
|-|-|-|
||Amount of current period|Amount of previous period|
|Joint venture:|--|--|
|The total number of the following|--|--|
|Associated enterprise：|--|--|
|Total investment book value|1,284,116,331|1,316,709,950|
|The total number of the following|--|--|
|--Net profit|-18,107,558|-6,772,948|
|Other comprehensive income|-18,107,558|-6,772,948|
|Total comprehensive income|||

Other notes
(5) Note to the significant restrictions of the ability of joint venture or associated enterprise transfer funds
to the Company
(6) The excess loss of joint venture or associated enterprise
In RMB
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
||The cumulative recognized|The derecognized losses or the|The noncumulative|
|Name|losses in previous|share of net profit in reporting|unrecognized losses in reporting|
||accumulatively derecognied|period|period|

Other notes
(7) The unrecognized commitment related to joint venture investment
(8) Contingent liabilities related to joint venture or associated enterprise investment
4. Significant common operation
|||||||
|-|-|-|-|-|-|
||Main operating place|||Proportion/share portion||
|Name||Registration place|Business nature|||
||Registration place|||Directly|Indirectly|

 Note to holding proportion or share portion in common operation different from voting proportion:
Basis of common operation as a single entity, classify as common operation
Other notes
5. Equity of structure entity not including in the scope of consolidated financial statements
Related notes to structure entity not including in the scope of consolidated financial statements
6.Other
X.Risk related to financial instruments
XI. Disclosure of fair value
1. Ending fair value of the assets and liabiliies measured by fair value
In RMB
||||||
|-|-|-|-|-|
||Ending fair value||||
|Items|||||
||First-order|Second-order|Third-order|Total|
|1. Sustaining measured by|||||
||--|--|--|--|
|fair value|||||
|（II）Available-for –sale|||||
||346,523,895|||346,523,895|
|financial assets|||||
|（2）Investment interest|||||
||346,523,895|||346,523,895|
|tools|||||
|II. Non –persistent|||||
||--|--|--|--|
|measure|||||

2.Recognized basis for the market price sustaining and non-persistent measured by fair value oon first-order 3. Valuation technique and qualitative and quantitative information on major parameters for the fair value measure sustaining and non-persistent on second-order
4. Valuation technique adopted and nature and amount determination of important parameters for
consistent and inconsistent fair value measurement items at level 3
5. Sensitiveness analysis on unobservable parameters and adjustment information between opening and
closing book value of consistent fair value measurement items at level 3
6. Explain the reason for conversion and the policy governing when the conversion happens if conversion happens among consistent fair value measurement items at different levels
7. Changes in the valuation technique in the current period and the reason for change
8. Fair value of financial assets and liabilities not measured at fair value
9.Other
XII.Related parties and related-party transactions
1. Parent company information of the enterprise
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||
|-|-|-|-|-|-|
||||||Vote right ratio of|
|||||Share ratio of parent||
|Parent company|Registrati||||parent company|
|||Nature|Registered capital|company against the||
|name|on place||||against the|
|||||company(%)||
||||||company(%)|
|||Power plant operating,electricity||||
|Guangdong|Guangzho|||||
|||assets management, electricity|23,000,000,000|67.39%|67.39%|
|Yudean Group|u|||||
|||generation||||

Explanation on parent company of the enterprise
On August 8, 2001, Guangdong Provincial Government had taken the lead in the implementation of the reform of electric power system. Guangdong Electric power Group was established by inheriting the electricity generation business of Guangdong electric Power Group Company and its registered capital is RMB 23 billion, with76% stake held by Guangdong Provincial People's Government and24% stake held by China Hua Neng Group, owning more than 13,000 staff now, and the company is the strongest
Ultimate controller os the Company is Guangdong ProvincialPeople’s Govemment state owned assets supervision and Administration Commission.
Notes：
2.Subsidiary of the Enterprise
See to Notes IX.1.
3.Cooperative enterprise and joint venture
See Notes IX.2.
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in perviousperiod：
|||
|-|-|
|Name|Relationship|
|Industry Fuel|Joint venture|
|Guangdong Yudean Finance|Associate|
|Guangdong Yudean Shipping|Associate|

Other notes
4.Other related party
|||
|-|-|
|Other related party|Relationship with the Enterprisse|
|Maoming Thermal power Plant|Controlled by Yudean|
|Shaoguan Power Generation plant|Controlled by Yudean|
|Yudean Environmental protection|Controlled by Yudean|
|Yudean Property|Controlled by Yudean|
|Huangpu Electric Power Engineering|Controlled by Yudean|
|Yangjiang Port|Controlled by Yudean|
|Yudean Real Estate|Controlled by Yudean|
|Yudean Information Technology|Controlled by Yudean|
|Huangpu Yuehua Huma resources|Controlled by Yudean|
|Yudean Natural gas|Controlled by Yudean|
|Yudean Finance lease|Controlled by Yudean|
|Yudean Changtan Power Generation|Controlled by Yudean|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Zhuhai Jinwan||Controlled by Yudean|
|Yudean New Energy||Controlled by Yudean|
|Yunhe Power Generation||Controlled by Yudean|
|Yuelong Power Generation||Controlled by Yudean|
|Guanghe Electric Power||Controlled by Yudean|
|Yudean Menghua New Energy||Controlled by Yudean|
|Chongshan Thermal power plant||Controlled by Yudean|
|Shenzhen Tianxin||Controlled by Yudean|
|Qujiang New Energy||Controlled by Yudean|
|The Group||Controlled by Yudean|
|Yudean Insurance|Captive|Controlled by Yudean|
|Yuehua Power Generation||Controlled by Yudean|
|Sha A Plant||Controlled by Yudean|

Other notes
5. Related transactions.
（1）Related transactions on purchasing goods and receiving services
Acquisition of goods and reception of labor service
In RMB
|||||||
|-|-|-|-|-|-|
|||Current amount|Approval trading|Whether over the||
|Related party|Content||||Last amount|
||||limit|trading limit(Y/N)||
|Fuel Company|Fuel purchase|7,135,671,591||No|6,815,959,245|
|Yudean||||||
|Environment|Material purchase|74,236,581||No|57,013,375|
|Protection||||||
||Acceptance of tugboat|||||
|Yudean Shipping||8,252,359||No|12,606,792|
||services|||||
|Yudean Property|Acceptance of|||||
|||12,018,032||No|12,828,482|
|Management|management services|||||
|Guangzhou||||||
|Huangpu Electric||||||
||Maintenance services|5,023,823||No|2,987,898|
|Power Engineering||||||
|Co., Ltd.||||||
||Acceptance of tugboat|||||
|Yangjiang Port||3,910,865||No|3,327,803|
||services|||||
|Yudean Real Estate|Leasing service|27,293||No|32,966|
||Acceptance of|||||
|Yudean Information||1,103,961||No|454,427|
||management services|||||
|Huangpu Yuehua|Human receivaces|2,925,678||No|1,438,679|
|Yudean Natural gas|Fuel purchase|38,228,155||No|99,369,938|
|Yudean Finance||||||
||Leasing service|194,654||No||
|lease||||||
|Yudean Changtan|Acceptance of|||||
|||226,415||No||
|Power Generation|management services|||||
|Maoming Thermal|Leasing service|595,944||No|74,003|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
|power plant|||||
|Shaoguan Power|||||
||Leasing service|24,000|No||
|Generation|||||
|Yunhe Power|||||
||Electric purchase|26,020,204|No|777,641|
|Generation|||||
|Yuehua Power|||||
||Electric purchase|25,056,294|No|20,367,239|
|Generation|||||
|Zhuhai Jinwan|Electric purchase|51,056,560|No|14,669,222|
|Guanghe Electric|||||
||Electric purchase|54,456,828|No|10,249,291|
|Power|||||
|Yuelong Power|||||
||Electric purchase|17,468,048|No|3,699,971|
|Generation|||||

Sales of goods and services
In RMB
|||||
|-|-|-|-|
|Related parties|Content|Occurred current term|Occurred in previous term|
|Yudean Environment Protection|Sale of Material|52,048,796|34,746,789|
||Providing maintenanceservices|||
|Shajiao C||6,794,858|1,113,144|
|Zhuhai Jinwan Power|Providing maintenanceservices|||
|||2,934,438|126,904|
|Generation Co., Ltd.||||
|Yudean New Energy|Service|7,518||
|Yudean Yunhe Power|Providing maintenanceservices|||
|||12,374,579|9,463,005|
|Generation||||
|Yudean Shipping|Leasing service|21,622||

Notes
（2）Related trusteeship or contracting
Related trusteeship or contracting in which the Company is the undertake
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||||Gains from the|
|Name of the|Name of the|Asset situation of|||||
||||Start date|Terminating date|Pricing basis|deal in report|
|employer|undertaker|the undertaker|||||
|||||||period|

Notes
Lists of entrust/contractee
In RMB
||||||||
|-|-|-|-|-|-|-|
|Name of the|Name of the|||||Clarge|
|entruster/contract|entrustee/|Type|Initial date|Due date|Pricing basis|recognized in the|
|ee|contractor|||||reporting period|

 Notes
(3) Information of related lease
The company eas lessor:
In RMB
|||||
|-|-|-|-|
|||The lease income confirmed inthis year|The lease income confirmed in|
|Name of lessee|Category of leased assets|||
||||last year|
|Shipping Company|Property Leasing|21,622||

The Company waslessee：
In RMB
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|||The lease income confirmed in||
|Lessor|Category of leased assets||Category of leased assets|
|||this year||
|Yudean Real Estate|Leasing service|27,293|32,966|
|Maoming Thermal power plant|Leasing service|595,944|74,003|
|Shaoguan Power Generation||||
||Leasing service|24,000||
|Plant||||
|Yudean Finance lease|Equipment leasing|194,654||

Notes
||
|-|
|In the first half of 2018, the Group leased fixed assets to Yudean Financial Leasing in the form of sale and|
|leaseback. The leased price of the leased property was RMB 600,000,000, the lease term was 6 years, and the|
|lease rate was 6.19%.|

（4）Status of related party guarantee
As a guarantor for the company
In RMB
||||||
|-|-|-|-|-|
|||||Execution accomplished|
|Guarantor|Guarantee amount|Start date|End date||
|||||or not|

As a secured party for the company
In RMB
||||||
|-|-|-|-|-|
|||||Execution accomplished|
|Guarantor|Guarantee amount|Start date|End date||
|||||or not|
|Yudean Group|1,500,000,000|August 14, 2013|August 13,2022|No|

Statement on related guarantees
(5) Inter-bank lending of capital of relatedparties：
In RMB
||||||
|-|-|-|-|-|
||Amount borrowed and||||
|Related party||Initial date|Due date|Notes|
||loaned||||
|Borrowed|||||
|Guangdong Yudean|||||
||100,000,000|November 30,2017|November 29,2018||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||250,000,000|February 26,2018|February 25,2019||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||50,000,000|February 28,2018|February 27,2019||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||200,000,000|May 22,2018|May 21,2019||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||100,000,000|May 28,2018|May 27,2019||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||200,000,000|March 5,2018|March 4,2019||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||250,000,000|March 6,2018|March 5,2019||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||250,000,000|March 8,2018|March 7,2019||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||8,436,800|March 24,2014|March 24,2019||
|Finance Co., Ltd.|||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|Guangdong Yudean||||
||8,540,000|April 24,2014|April 24,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||34,250,000|June 24,2014|June 25,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||27,940,000|July 19,2014|July 19,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||17,090,000|December 19,2016|December 18,2021|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||37,720,000|June 28,2017|June 27,2022|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||17,448,000|February 1,2018|February 1,2023|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||12,460,000|November 12,2014|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||75,000,000|December 10,2014|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|February 4,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||45,000,000|June 17,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||25,000,000|July 23,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||24,000,000|September 15,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000|September 28,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||19,000,000|October 13,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||144,500,000|December 16,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,750,000|November 12,2014|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||75,000,000|December 10,2014|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|February 4,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||45,000,000|June 17,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||25,000,000|July 23,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||24,000,000|September 15,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000|September 28,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||19,000,000|October 13,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||144,500,000|December 16,2015|October 27,2029|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|Guangdong Yudean||||
||12,000,000|June 21,2018|June 30,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||175,000,000|December 13,2017|December 12,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|September 27,2017|September 26,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||150,000,000|November 7,2017|November 6,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|June 19,2017|June 18,2020|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||67,000,000|March 14,2018|February 27,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000|April 13,2018|September 28,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||32,154,349.10|April 13,2018|September 28,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||25,000,000|September 7,2017|September 6,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000|November 8,2017|November 7,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||65,000,000|December 12,2017|December 11,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||42,000,000|April 25,2018|April 24,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||40,000,000|May 23,2018|May 22,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||90,000,000|June 6,2018|June 5,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||63,000,000|June 19,2018|June 18,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||150,000,000|September 15,2017|September 14,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||110,000,000|December 11,2017|December 10,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000|April 4,2018|April 3,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|May 15,2018|May 14,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|May 29,2018|May 30,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|June 13,2018|June 12,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||150,000,000|June 28,2018|June 27,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||60,000,000|June 22,2018|June 21,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||89,300,000|June 23,2017|June 22,2032|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|Guangdong Yudean||||
||5,305,000|July 28,2017|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||12,145,000|August 24,2017|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,190,000|September 22,2017|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||14,645,000|November 2,2017|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||43,400,000|November 28,2017|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||29,110,000|December 18,2017|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||21,610,000|May 10,2018|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||13,600,000|May 29,2018|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||17,300,000|June 13,2018|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||69,600,000|June 20,2018|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||183,102,299|December 25,2013|December 24,2028|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||430,000,000|December 6,2007|December 5,2025|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000|August 15,2017|August 14,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||70,000,000|September 18,2017|September 17,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000|November 28,2017|November 27,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|November 30,2017|November 29,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|December 13,2017|December 12,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||80,000,000|March 19,2018|March 18,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|April 3,2018|April 2,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||80,000,000|April 27,2018|April 26,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|May 31,2018|May 30,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||80,000,000|June 14,2018|June 13,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||120,000,000|June 19,2018|June 18,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000|July 20,2017|July 19,2018|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|Guangdong Yudean||||
||20,000,000|August 1,2017|July 31,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000|August 25,2017|August 24,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000|August 30,2017|August 29,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||15,000,000|August 31,2017|August 30,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000|September 12,2017|September 11,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|March 14,2018|March 13,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|March 15,2018|March 14,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|March 16,2018|March 15,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|March 19,2018|March 18,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|May 10,2018|May 9,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000|May 11,2018|May 10,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|May 11,2018|May 10,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000|May 14,2018|May 13,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|May 15,2018|May 14,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||15,000,000|June 4,2018|June 3,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|June 6,2018|June 5,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|June 8,2018|June 7,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000|June 14,2018|June 13,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000|June 19,2018|June 18,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|June 26,2018|June 25,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||22,800,000|December 8,2016|August 15,2031|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|May 22,2018|May 21,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|June 22,2018|June 21,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000|May 14,2018|May 13,2019|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|Guangdong Yudean||||
||50,000,000|January 1,2018|July 3,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000|Janupary 1,2018|July 5,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000|January 1,2018|August 29,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000|January 1,2018|September 14,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000|January 1,2018|September 26,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000|January 1,2018|November 25,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000|January 1,2018|December 14,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||120,000,000|January 1,2018|October 13,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000|January 1,2018|October 13,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||250,000,000|July 13,2017|July 12,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000|September 30,2017|September 28,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||150,000,000|October 12,2017|October 11,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000|December 14,2017|December 13,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000|December 15,2017|December 14,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000|June 8,2018|June 7,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||150,000,000|June 22,2018|June 22,2019|
|Finance Co., Ltd.||||
|Loaned||||

(6) Related party asset transfer and debt restructuring
In RMB
|||||
|-|-|-|-|
|Related party|Amount borrowed and loaned|Amount of current period|Amount of previous period|

 (7) Rewards for the key management personnel
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Rewards for the key management|||
||3,039,268|2,904,056|
|personnel|||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018（8）Other related transactions
(a)Allocation of common expenses
In the first half of 2018,, the common expenses received by the Group from Shajiao C was RMB1,930,694.49.( In the first half of 2017, the common expenses received by the Group from Shajiao C was RMB1,498,424.06.) (b) Interest income
In RMB
||||||
|-|-|-|-|-|
||Items|June 30,2018||June 30,2017|
|Deposit interest of Yudean||26,032,498|27,050,894||
|Proportion(%)||87.14%|82.39%||

(c)Interest expense
In RMB
||||||
|-|-|-|-|-|
||Items|June 30,2018||June 30,2017|
|Loan interest paid to Yudean Finance||169,618,760|138,471,921||
|Proprotion(%)||25.81%|20.71%||

(d)Joiont investment
||||
|-|-|-|
|||Attributable to Yudean Proportion %|
|Yudean Finance|65%||
|Fuel Company|50%||
|Shan\xi Energy|60%||
|West Investment|35%||
|Yudean Shipping|45%||
|Yudean Insurnce|51%||

6. Payables and receivables of the related party
（1）Receivables
In RMB 6. Payables and receivables of the related party
（1）Receivables
In RMB
|||||||
|-|-|-|-|-|-|
|||Amount at year end||Amount at year begiing||
|Name|Related party|||||
|||Balance of Book|Bad debt provision|Balance of Book|Bad debt provision|
||Guangdong Yudean|||||
|Monetary fund||3,605,937,699||4,152,300,806||
||Finance Co., Ltd.|||||
|Account receivable|Shajiao C|5,710,788||13,185,631||
||Guangdong|||||
|Account receivable||||4,923,611||
||ZhuhaiJinwan Power|||||
||Yuelong Power|||||
|Account receivable||||15,550||
||Generation|||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|Account receivable|Yudean New Energy||762,132|
||Guanghe Electric|||
|Account receivable|||35,177|
||Power|||
||Yunhe Power|||
|Account receivable||133,950|2,526,785|
||Generation|||
||Guangdong Yudean|||
|Other receivable||19,000||
||Finance Co., Ltd.|||
|Other receivable|Yudean Real Estate|1,265,672|1,274,519|
|Other receivable|Shajiao C|2,183,792|253,097|
|Other receivable|Yudean PM|413,282|413,282|
||Guangdong Yudean|||
|Other receivable|Environmental|87,139,420|136,540,065|
||protection|||
||Yudean Menghua|||
|Other receivable|||241,844|
||New Energy|||
|Other receivable|Yudean Insurnce|98,000,000||
||Guangdong Yudean|||
|Interest receivable||18,297,556|14,923,771|
||Finance Co., Ltd.|||
|Prepayment|Industry fuel|544,340,420|589,294,868|
|Prepayment|Yudean Natural ga|28,536,944||
||Yudean|||
|Prepayment|InformationTechnolo|611,415||
||gy|||
|Prepayment|Shenzhen Tianxin|10,140||

（2）Payables
In RMB
|||||
|-|-|-|-|
|Name|Related party|Amount at year end|Amount at year beginning|
|Account payable|Industry fuel|1,996,938,187|1,463,573,252|
|Account payable|Shipping Company|2,130,700||
||Yudean Environmental|||
|Account payable||85,779,003|62,871,339|
||Protection|||
|Account payable|Yudean InformationTechnology|667,200|68,000|
|Account payable|Yudean Property|3,626,307||
||Huangpu Electric power|||
|Account payable||2,031,512|3,335,568|
||Engineering|||
||Huangpu Yuehua Human|||
|Account payable||1,400,000|566,250|
||Resources|||
|Account payable|Manming Thermal power|90,955,718|89,461,265|
||Shaoguan Power Generation|||
|Account payable||3,544,826||
||Plant|||
|Account payable|Yunhe Power Generation||1,006,553|
|Account payable|Zhuhai Jinwan||218,925|
|Account payable|Zhuhai Hengda Energy||37,183|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|Account payable|Yuelong Power Generation||34,071|
|Other payable|Yudean Insurnce|86,838||
|Other payable|Yudean Shipping|920,000|4,280,000|
|Other payable|Shajiao C|4,602||
|Other payable|Yudean Property|244,398|5,300,494|
|Other payable|Yudean InformationTechnology|669,900|1,028,740|
||Huangpu Electric Power|||
|Other payable||1,374,524|2,451,285|
||Engineering|||
|Other payable|Manming Thermal power|4,000,000|7,187,525|
|Other payable|Shaoguan Power Generation|7,655,833|11,024,853|
|Other payable|Qujiang Yudean New Energy|9,000||
|Other payable|Shenzhen Tianxin|70,000|70,000|
||Huangpu Yuehua Human|||
|Other payable|||1,701,219|
||Resources|||
|Other payable|Yudean Real Estate||1,360,639|
||Yudean Environmental|||
|Other payable|||631,264|
||Protection|||
|Interest payable|Yudean Finance|18,995,040|10,451,874|
|Note payable|Industry fuel|0|67,611,800|
|Note payable|Yudean Finance|379,154,349|230,000,000|
|Short-term loan|Yudean Finance|6,197,000,000|5,637,000,000|
|Non-current liability due in 1||||
||Yudean Finance|185,706,035|191,763,707|
|year||||
|Long-term loan|Yudean Finance|2,795,375,704|2,533,388,877|

 7. Related party commitment
8.Other
XIII. Stock payment
1. The Stock payment overall situation
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018□ Applicable√ Not applicable
2. The Stock payment settled by equity
□ Applicable√ Not applicable
3. The Stock payment settled by cash
□ Applicable√ Not applicable
4. Modification and termination of the stock payment
5.Other
XIV. Commitments
1.Importance commitment events
Important commitments of existence of balance sheet date
(a) The Seventh Session of the Board passed the Proposal of Capital Injection in Guangdong Yudean Bohe Coal Power Co., Ltd. during its 11th meeting on 29 October 2012, pursuant to which the Company agreed to inject RMB 854,570,000 in cash to Bohe Coal for the construction of terminal project. The injection would be made in batches based on the capital requirement of the project. On 22 August 2013, the Seventh Session of the Board passed the Proposal of Invest to Establish Guangdong Maoming Bohe Electric Power Generation Project during its 15th meeting, pursuant to which the Company agreed to inject RMB 1,375,000,000 to Bohe Coal for the construction of Bohe electric plant. The injection of the initial capital of Bohe Coal of RMB 285,000,000 was completed. The subsequent injection of RMB 1,090,000,000 will be made in batches based on the capital requirement of the project. The aforesaid capital commitment is totalled at RMB 2,229,570,000. As at June 30, 2018, the Company injected RMB 2,229,000,000 to Bohe Coal.
(b) The 3rd meeting of the 9th Board of Directors held by the company on April 16, 2018 passed the “Proposal on Increasing Capital to Guangdong Yudean Property Insurance Captive Co., Ltd.” In order to further enhance the ability to undertake insurance business and enhance thecorporate’s anti-risk ability, the board of directors agreed that the company would increase the capital to Guangdong Yudean Property Insurance Co., Ltd. by RMB 98 million according to the proportion of49%. On June 30, 2018, the company's accumulated capital injection was completed.
(c) The Eighth Session of the Board passed the Proposal of Investment in the Establishment of2×400MW Fuel Gas - Steam Thermal Power Cogeneration Project in Guangdong Yudean Huadu Natural Gas Thermal Power Co., Ltd. during its 15th meeting dated 24 April 2017. To promote the subsequent development of natural gas thermal power project in Huadu, the Company is required to inject a total capital of RMB 467,110,800 to Guangdong Yudean Huadu Natural Gas Thermal Power Co., Ltd. based on its shareholding proportion of65% in this company. In addition to the whole capital injected since the incorporation of the project company, the Company still need to inject another RMB 369,610,800. As at 31 December 2017, the Company had injected RMB 89,050,000, and the accumulated injection of capital was RMB 186,550,000.
(d) The Seventh Session of the Board passed the Proposal of Investment in Phase II Thermal Power Cogeneration Project of Huizhou LNG Electric during its 14th meeting in April 2013. According to the proposal, the Board permits the Company to invest in Phase II Thermal Power Cogeneration Project of Huizhou LNG Electric with the contribution ratio of67%. The capital is about RMB 569,000,000 in total, which will be made in batches based on the project progress and capital requirement. The Company injected RMB 42,670,000 and RMB 52,330,000 respectively in September and December 2017.
(e) The 2018 first communication meeting of the 9th Board of Directors held on March 13, 2018, reviewed and approved the “Proposal on Investment and Construction of Zhanjiang Wailuo Offshore Wind Power Project (Phase I) Project); in order to actively implement the energy development planning of the State and Guangdong Province, vigorously develop clean energy, and accelerate the optimization of the company's power generation structure, the board of directors agreed to invest in the construction of Guangdong Yudean Zhanjiang Wailuo
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 Offshore Wind Power Project (Phase I) by Guangdong Yuedian Qujie Wind Power Co., Ltd. (hereinafter referred to as “Qujie Wind Power Company”), a wholly-owned subsidiary of the company. The project has an installed capacity of 198MW, with a total investment of RMB 373.45 million; the capital fund is calculated to be RMB 749.89 on the base of20%. According to the project construction progress and capital demand, the company will increase capital to Qujie Wind Power Company in due time to resolve it. The company injected capital of RMB100,000,000 and RMB300,000,000 in April and May 2018 respectively.
(f) The 2018 first communication meeting of the 9th Board of Directors held on March 13, 2018, reviewed and approved the “Proposal on Launching the Preliminary Work of Zhanjiang Wailuo Offshore Wind Power Project (Phase II), in order to give full play to regional resource information and personnel advantages that Zhanjiang Wailuo Offshore Wind Power Project (Phase I) has had, seize the opportunity to accelerate the development of offshore wind power, the board of directors agreed the company to start the Preliminary Work of Zhanjiang Wailuo Offshore Wind Power Project (Phase II), the total planned installed-capacity is 200MW, and the company's wholly-owned subsidiary, Qujie Wind Power Co., Ltd. is responsible for the specific pre-work matters. The pre-work expenses are controlled by 48 million yuan, which is solved by the company through the capital increase to Qujie Wind Power Company. The company injected capital of RMB 48,000,000 in May 2018. 2.Contingency
（1）Significant contingency at banlance sheet date
On June 30, 2018, the Company provided joint and several liability guarantee for bank borrowings of RMB 111,360,000 for Yunnan Baoshan binglangjiang Hydropower Development Co., Ltd., which is in process. On June 30, 2018, the Company provided joint liability guarantee for the investment of RMB74,400,578 in Zhanjiang Wind Power. The bank loan of RMB 68,000,000 generated by the Company for Yuejiang Power was held by the Company Provide joint liability guarantee.
（2）The Company have no significant contingency to disclose, also should be stated
The was no significant contingency in the Company.
3.Other
XV. Post-balance-sheet events
1. Significant events had not adjusted
In RMB
|||||
|-|-|-|-|
|||Influence number to the||
||||Reason of unable to estimate|
|Items|Content|financial position and operating||
||||influence number|
|||results||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 2. Profit distribution
3. Sales return
4.Notes of ohter significant events
XVI. Other signifiant enents
1.The accounting errors correction in previous period
（1）Retrospective restatement
In RMB
|||||
|-|-|-|-|
|||Name of the influenced report||
|Content|Processing program||Cumulative impact|
|||items during comparison period||

（2）Prospective application
||||
|-|-|-|
|Content|Processing program|Reason of adopting prospective application|

 2. Debt restructuring
3. Replacement of assets
（1）Non-monetary assets exchange
（2）Other assets replacement
4. Pension plan
5.Discontinuing operation
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||||Termination of|
|||||||the business|
|||||||profits|
|Items|Income|Expense|Total profits|Income tax|Net profit||
|||||||attributable of the|
|||||||parent company|
|||||||owner|

 Other notes
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 6. Segment information
(1) Recognition basis and accounting policies of reportable segment
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Parent||||Maoming|Zhanjiang|Zhongyue||||
|Items||Jinghai Power|Pinghai Power|Red Bay||||Other|Partial offset|Total|
||Company||||Zhenneng|Power|Enerty||||
|Main Buinsess|||||||||||
||1,127,894,766|2,532,988,182|1,834,351,612|2,116,368,301|843,474,722|1,067,245,376|741,032,613|3,513,663,221|-7,480,897.76|13,769,537,895|
|Income|||||||||||
|Main Buinsess|||||||||||
||1,082,555,502|2,269,891,780|1,381,071,515|1,831,365,552|860,757,673|958,336,068|749,376,337|3,075,755,154|-9,376,421.17|12,199,733,160|
|Cost|||||||||||
|Profit Total|995,881,177|119,799,041|384,369,227|178,479,245|-59,935,407|128,194,156|-78,871,119|213,931,996|-841,800,901.30|1,040,047,416|
|Assets Total|27,933,650,530|9,595,441,359|6,111,071,236|7,013,700,026|3,027,926,326|4,484,294,981|5,080,559,073|30,258,104,012|-20,687,475,003|72,817,272,539|
|Liability Total|4,861,179,955|6,114,766,751|3,962,442,405|3,767,756,414|2,094,568,231|446,436,588|4,100,049,015|20,165,061,979|-2,204,064,107|43,308,197,231|

 (3) There was no reportable segment, or the total amount of assets and liabilities of each part of reportable
segment, shall disclose the reason.
（4）Other notes
7. Other important transactions and events have an impact oninvestors’ decision-making
8.Other
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 XVII. Notes s of main items in financial reports of parent company
（1）Account receivable
1.Classification accojunt receivables.
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Amount in year-end|||||Amount in year-beginning|||||
||||Bad debt|||||Bad debt|||
||Book Balance|||||Book Balance|||||
|Category|||||||||||
||||provision|||||provision|||
||||||Book value|||||Book value|
|||Proport||Proportion(%)||Amount|Proporti|Amo|Proport||
||Amount||Amount||||||||
|||ion(%)|||||on(%)|unt|ion(%)||
|Accounts receivable of|||||||||||
|individual significance||||||195,462,1|||||
||252,706,285|100 %|||252,706,285||100 %|||195,462,150|
|and subject to individual||||||50|||||
|impairment assessment|||||||||||
||||||252,706,285|195,462,1||||195,462,150|
|Total|252,706,285|100 %|||||100 %||||
|||||||50|||||

Receivable accounts with large amount individually and bad debt provisions were provided.
√Applicable□Not applicable
In RMB
||||||
|-|-|-|-|-|
||End of term||||
|Content of account receivable|||||
||Account receivable|Provision for bad|||
|（Unit）|||Proportion of provision|Reason for provision|
|||debts|||
|||||Full amount recovery is|
|GPGC|250,507,138||0 %||
|||||expected|
|Dongguan Depu Energy||||Full amount recovery is|
||2,199,147||0 %||
|Technology Co., Ltd.||||expected|
|Total|252,706,285||--|--|

Account reveivable on which bad debt proisions are provided on age basis in the group
□Applicable√Not applicable
Receivable accounts on which had debt provisions are provided on percentage analyze basis in a portfolio□Applicable√Not applicable
Receivable accounts on which had debt provisions are provided by other ways in the portfolio
（2）Accounts receivable withdraw, reversed or collected during the reporting period
The withdrawal amount of the bad debt provision during the reporting period was of RMB 0.00;The amount of the reversed or collected part during the reporting period was of RMB0.00.
Where the current bad debts back or recover significant amounts:
In RMB
||||
|-|-|-|
|Name|Back or withdraw money|Method|

（3）The current accounts receivable written-offs situation
In RMB
|||
|-|-|
|Items|Amount written-offs situation|

Account receivables actually written-offs during the reportingperiod：
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 In RMB
|||||||
|-|-|-|-|-|-|
||Nature of account|Amount written-off|Reason for|Verification|Arising form related|
|Name||||||
||receivable||written-off|procedures|transactions(Y/N)|

 Explanation for written-off of accountreceivables：
（4）The ending balance of other receivable owed by the imputation of the top five parties
In RMB
||||||||
|-|-|-|-|-|-|-|
|Account receivable(Unit )|||End of term lance||||
||||Account receivable|Bad debt provision|Proportion|Reason|
|GPGC||250,507,138|||||
|Dongguan Depu Energy TechnologyCo., Ltd.||2,199,147|||||
||Total||252,706,285||||

(5) Account receivable which terminate the recognition owning to the transfer of the financial assets
(6) The amount of the assets and liabilities formed by the transfer and the continues involvement of accounts receivable
Othernotes：
2. Other accounts receivable
(1) Other accounts receivable disclosed by category
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Amount in year-end|||||Amount in year- begin|||||
||||Bad debt|||||Bad debt|||
||Book Balance|||||Book Balance|||||
||||provision|||||provision|||
|Category|||||||||||
|||||Propo|Book value||||Propor|Book value|
|||Proportio|Amou||||Proporti|Amou|||
||Amount|||rtion(||Amount|||tion(%||
|||n(%)|nt||||on(%)|nt|||
|||||%)|||||)||
|Other accounts receivable of|||||||||||
|individual significance and|||||||||||
||106,747,436|93.89%|||106,747,436|22,394,109|80.02%|||22,394,109|
|subject to individual|||||||||||
|impairment assessment|||||||||||
|Other accounts receivable of|||||||||||
|individual insignificance but|||||||||||
||6,945,821|6.11%|||6,945,821|5,590,195|19.98%|||5,590,195|
|subject to individual|||||||||||
|impairment assessment|||||||||||
|Total|113,693,257|100 %|||113,693,257|27,984,304|100 %|||27,984,304|

 Other receivable accounts with large amount and were provided had debt provisions individually at end of period.√ Applicable□ Not applicable
In RMB
||||||||
|-|-|-|-|-|-|-|
||||End of term||||
|Other receivable（Unit）|||||||
||||Other receivable|Bad debt provision|Proportion|Reason|
|Guangdong Yudean Property|||98,000,000||||
|Insurance|Captive|Co., Ltd.|||||
|Guangdong Yudean|||||||
|Environmental protection|||8,747,436||||
|Co., Ltd.|||||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||
|-|-|-|-|
|Total|106,747,436|--|--|

Other receivable accounts in Group on which bad debt provisions were provided on age analyzebasis：
□Applicable√Not applicable
Other receivable account in Group on which bad debt provisions were provided on percentagebasis：
□Applicable√Not applicable
Other Receivable accounts on which bad debt provisions are provided by other ways in theportfolio：
□Applicable√Not applicable
（2）Bad debt provision accrual collected or switch back
Bad debt provision accrual was RMB0.00, the acount collected or switches back amounting to RMB 0.00. Significant amount of reversed or recovered bad debtprovision：
In RMB
||||
|-|-|-|
|Name|Amount|Method|

(3) Other account receivables actually cancel after wtite-off
In RMB
|||
|-|-|
|Items|Amount|

Of Which,Other receivablewrite-off：
In RMB
|||||||
|-|-|-|-|-|-|
||||||Whether the money|
||||||is generated by|
|Name|Nature|Amount|Reason|program||
||||||related party|
||||||transactions|

Notes：
(4) Other account receivables category by nature of money
In RMB
||||
|-|-|-|
|Naature|Ending book balance|Beginning book balance|
|Investment to be transferred|98,000,000||
|Sales of fly ash|8,747,436|22,394,109|
|Petty cash|1,667,931|901,951|
|Other|5,277,890|4,688,244|
|Total|113,693,257|27,984,304|

（5）The ending balance of other receivables owed by the imputation of the top five parties
In RMB
|||||||
|-|-|-|-|-|-|
||||Ager|Portion in total other|Bad debt provision|
|Name|Nature|Year-end balance||||
|||||eceivables(%)|of year-end balance|
||Investment to|||||
|Yudean Insurance||98,000,000|Within 1 year|86.20%||
||be transferred|||||
|Guangdong Yudean||||||
|Environmental Protection Co.,|Sales of fly ash|8,747,436|Within 1 year|7.69%||
|Ltd.||||||
||Water and|||||
|Guangdong Yudean Group||||||
|||2,183,792|Within 1 year|1.92%||
||electricity|||||
|Shajiao C||||||
||rental|||||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||||
|-|-|-|-|-|
||advances||||
|Employee|Petty cash|1,667,931|Within 1 year|1.47%|
|Guangdong Yudean Real Estate|||||
||Deposit|597,764|Within 1 year|0.53%|
|Investment Co., Ltd.|||||
|Total|--|111,196,923|--|97.81%|

(6) Accounts receivable involved with government subsidies
In RMB
||||||
|-|-|-|-|-|
|||||Estimated received time,|
|Name of units|Project of government|Closing balance|Closing age||
|||||amount and basis|

 (7) Other account receivable which terminate the recognition owning to the transfer of the financial assets (8) The amount of the assets and liabilities formed by the transfer and the continues involvement of other
accounts receivable
OtherNotes：
3.Long–term share equity investment
In RMB
||||||||
|-|-|-|-|-|-|-|
||End of term|||Beginning of term|||
|Items||Impairment|||Impairment||
||Book Balance||Book value|Book Balance||Book value|
|||provision|||provision||
|Investment in|||||||
||19,030,371,604|1,138,134,640|17,892,236,964|18,770,291,604|1,138,134,640|17,632,156,964|
|subsidiaries|||||||
|Investment in|||||||
|joint ventures and|5,866,294,025||5,866,294,025|5,738,255,738||5,738,255,738|
|associates|||||||
|Total|24,896,665,629|1,138,134,640|23,758,530,989|24,508,547,342|1,138,134,640|23,370,412,702|

（1）Investment in subsidiaries
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||||Impairment|
||||||Impairment||
|Name of investee|Opening balance|Increase|Decrease|Closing balance||provision for|
||||||provision||
|||||||the year|
|Shenzhen Guangqian Electric|||||||
||1,353,153,223|||1,353,153,223|||
|PowerCo., Ltd.|||||||
|Guangdong Yudean Bohe Electric|2,229,000,000|||2,229,000,000|||
|Yudean Dapu Power Generation|1,000,000,000|||1,000,000,000|||
|Guangdong Wind Power Generation|||||||
||827,419,390|||827,419,390|||
|Co., Ltd.|||||||
|Lincang Yudean Energy Co., Ltd.|427,689,439|||427,689,439|||
|Yudean Qujie Wind Power|||||||
||231,750,000|448,000,000||679,750,000|||
|Generation Co., Ltd.|||||||
|Yudean Electric Sale|230,000,000|||230,000,000|||
|Guangdong Yudean Anxin|20,000,000|||20,000,000|||
|Tongdao Yuexin Wind Power|10,000,000|||10,000,000|||
|Zhanjiang Zhongyue Energy|1,150,248,115|||1,150,248,115||187,248,115|
|Shaoguan Yuejiang Power Generation|1,153,694,674|||1,153,694,674||408,494,674|

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
|||||||
|-|-|-|-|-|-|
|Yudean Yongan Natural Gas|90,000,000|||90,000,000||
|Yudean Leizhou Wind Power|80,800,000|||80,800,000||
|Zhanjiang Electric Power|2,185,334,400|||2,185,334,400||
|Yudean Zhanjiang Wind Power|242,277,000|||242,277,000||
|Huizhou Natural gas|1,072,506,646|||1,072,506,646||
|Maoming Zhenneng|687,458,978|||687,458,978||
|Jinghai Power Generation|1,930,395,668|||1,930,395,668||
|Red Bay Power Generation|2,220,023,386|||2,220,023,386||
|Yudean Huadu Natural gas|186,550,000|||186,550,000||
|Yudean Humen Power Generation|90,000,000|||90,000,000|86,807,584|
|Yuejia Electric Power|631,679,338||187,920,000|443,759,338|455,584,267|
|Huizhou Pinghai Power Generation|720,311,347|||720,311,347||
|Total|18,770,291,604|448,000,000|187,920,000|19,030,371,604|1,138,134,640|

（2）Investment in joint ventures and associates
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||Increase/decrease in this period|||||||||Balanc|
|||Incre|||||Announced||||e of the|
|Name of|Beginning of|ase|Decre|Investment|Other|Other|for|Provisi|||provisi|
|||in|ase in||comprehe|change|distributing|on for||End of term|on on|
|investee|term|||income under|||||Other|||
|||inves|invest||nsive|s in|cash|impair|||for|
|||tmen|ment|equity method|income|eqiuty|dividend or|ment|||impair|
|||t|||||profit||||ment|
|I.Joint venture||||||||||||
|Industry Fuel|605,678,402|||41,278,498|||75,493,986|||571,462,914||
|Subtotal|605,678,402|||41,278,498|||75,493,986|||571,462,914||
|II. Associatesd||||||||||||
|Yangshan||||||||||||
||5,673,426|||239,442|||852,810|||5,060,058||
|Jiangkeng||||||||||||
|Yangshan||||||||||||
||7,509,371|||399,953||||||7,909,324||
|Zhongxinkeng||||||||||||
|West||||||||||||
||153,696,713|||-20,427,697||||||133,269,016||
|Investment||||||||||||
|Yudean||||||||||||
||941,757,936|||-2,354,123|||8,469,538|||930,934,275||
|Shipping||||||||||||
|Shanxi Yudean||||||||||||
||1,216,441,246|||110,913,552||||||1,327,354,798||
|Enerty||||||||||||
|Yudean||||||||||||
||700,701,205|||56,739,397|||57,221,066|||700,219,536||
|Finance||||||||||||
|Taishan Power|1,961,475,609|||81,699,809||||||2,043,175,418||
|Yudean||||||||||||
||145,321,830|||1,586,857||||||146,908,686||
|Insurance||||||||||||
|Subtotal|5,132,577,336|||228,797,190|||66,543,414|||5,294,831,111||
|Total|5,738,255,738|||270,075,688|||142,037,400|||5,866,294,025||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018（3）Other notes
4. Business income, Business cost
In RMB
||||||
|-|-|-|-|-|
||Amount of current period||Amount of previous period||
|Items|||||
||Income|Cost|Income|Cost|
|Main business|1,127,894,766|1,082,555,502|928,897,921|885,653,373|
|Other business|20,451,256|625,713|10,867,381|1,472,966|
|Total|1,148,346,022|1,083,181,215|939,765,302|887,126,339|

 Othernotes：
5. Investment income
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Long-term equity investment income|||
||777,396,415|877,823,419|
|accounted by cost method|||
|Long-term equity investment income|||
||270,075,688|221,764,316|
|accounted by equity method|||
|Investment return on investments held to|||
||9,634,179|8,780,663|
|maturity during the holding period|||
|Investment income received from holding of|||
||18,256,500|2,124,000|
|available-for –sale financial assets|||
|Other|357,107|-15,227|
|Total|1,075,719,889|1,110,477,171|

 6.Other
XVIII. Supplement information
1. Particulars about current non-recurring gains and loss
√ Applicable□ Not applicable
In RMB
||||
|-|-|-|
|Items|Amount|Notes|
|Gains/losses from the disposal of|||
||388,507||
|non-current asset|||
|Governmental subsidy calculated into|||
|current gains and loess（while closely related|||
|||The sales company received a reward of|
|with the normal business of the Company,|||
||12,471,031|RMB 9.99 million from the Nansha|
|excluding the fixed-amount or|||
|||government headquarters.|
|fixed-proportion governmental subsidy|||
|according to the unified national standard）|||
|Effect on current gains/losses when a one-off|||
|adjustment is make tocurent gains/losses|-395,966||
|according to requirements of taxation.|||
|||Zhanjiang Wind Power Company received|
|Other non-business income and expenditures||insurance compensation for typhoon Tyson|
||51,190,544||
|other than the above||for a total of RMB 45.54585 million.|
|Less：Influence amount of income tax|16,012,521||

Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018
||||
|-|-|-|
|Influenced amount of minor shareholders’|||
||11,949,795||
|equity|||
|Total|35,691,800|--|

Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public-Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the said explanatory announcement as a recurrent gain/loss item.
□ Applicable√Not applicable
2. Return on net asset and earnngs per share
|||||
|-|-|-|-|
|||Earningspershare||
|Profit of report period|Weightedaverage retureon eqiuty(%)|Basicearningspershare(y|Diluted eqrnings per|
|||uan/share）|share(yuan/share)|
|Net profit attributable to the||0.0855|0.0855|
|Common stock shareholders of|1.88%|||
|Company.||||
|Net profit attributable to the||||
|Common stock shareholders of||||
||1.73%|0.0787|0.0787|
|Company after deducting of||||
|non-recurring gain/loss.||||

3.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||Net assets||
||Amount in the reporting|Amount in the previous|End of the reporting|Beginning of the|
||period|period|period|reporting period|
|According to CAS|448,833,518|128,735,725|23,677,112,778|23,695,190,653|
|Items and amount adjusted according to IAS|||||
|The difference arising|||||
|from recognition of|||||
|goodwill after merger of|||64,623,000|64,623,000|
|enterprises under the same|||||
|control|||||
|Difference arising|||||
|fromrecognition of land|||||
||-315,000|-315,000|17,915,000|18,230,000|
|use value after enterprise|||||
|merger|||||
|Influence on minority|||||
||27,060|27,060|4,783,159|4,756,099|
|interests|||||
|According to IAS|448,545,578|128,447,785|23,764,433,937|23,782,799,752|

 (2) Discrepancy in net profit and net assets as disclosed in the financial report respectively according to the
accounting standards outside Mainland China and CAS
□ Applicable√ Not Applicable
(3) Note to the discrepancy in accounting data under the accounting standards outside Mainland China. In case
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 the discrepancy in data which have been audited by an overseas auditing agent has been adjusted, please specify the name of the overseas auditing agent.
(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,there’s some influence on minority interests.
4.Other
Guangdong Electric Power Development Co., Ltd The Semi-annual Report 2018 XI. Documents available for inspection
1.Text of Semi-ammual report carrying the signature of Chairman of the Board;
2.Financial statements bearing the seal and signature of legal representative, financial controller and the person in charge of the accounting organ;
3.All original copies of official documents and notices, which were disclosed in Securities Times, China Secunities and Hong Kong Commercial Daily (Both English and Chinese version);
4.The article of association of the Company;
5. English 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).
The Board of Directors of Guangdong Electric Power Development Co., Ltd.
Chairman of the Board: Wang Jin
August 31, 2018