Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 GUANGDONG ELECTRIC POWER DEVELOPMENT CO., LTD. The Semi-annual Report 2017
August 2017
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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.Huang Zhenhai, The Company leader, Mr. Li Xiaoqing, 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|
|Li Yanxu|Director|Due to busniess|Gao Shiqiang|
|Xu Ping|Director|Due to busniess|Yang Xinli|
|Zhang Xueqiu|Director|Due to busniess|Liu Tao|

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. The investors should pay attention to the investment risks. 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 I of Chapter IV of this semi-annual report- General.
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 2017 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 2017 Definition
||||
|-|-|-|
||Refers||
|Terms to be defined||Definition|
||to||
||Refers||
|Yudean Group||Guangdong Yudean Group Co., Ltd.|
||to||
||Refers||
|Zhanjiang Company||Zhanjiang Electric Power Co., Ltd.|
||to||
||Refers||
|Yuejiang Company||Guangdong Shaoguan Yuejiang Power Generation Co., Ltd.|
||to||
||Refers||
|Zhenneng Company||Maoming Zhenneng Thermal Power Co., Ltd.|
||to||
||Refers||
|Jinghai Company||Guangdong Yudean Jinghai Power Co., Ltd.|
||to||
||Refers||
|Zhanjiang Wind Power Company||Guangdong Yudean Zhanjiang Wind Power Co., Ltd.|
||to||
||Refers||
|Zhongyue Compamy||Zhanjiang Zhongyue Energy Co., Ltd.|
||to||
||Refers||
|Bohe Company||Guangdong Yudean Bohe Coal & Electricity Co., Ltd|
||to||
||Refers||
|Guangqian Company||Shenzhen Guangqian Electric Power Co., Ltd.|
||to||
||Refers||
|Huihou Natural Gas Company||Guangdong Huizhou Natural Gas Power Co., Ltd.|
||to||
||Refers||
|Red Bay Company||Guangdong Red Bay Power Co., Ltd.|
||to||
||Refers||
|Pinghai Power Plant||Guangdong Hluizhou Pinghai Power Co., Ltd.|
||to||
||Refers||
|Humen Power Company||Guangdong Yudean Humen Power Co., Ltd.|
||to||
|Anxin Electric Inspection & Installation|Refers||
|||Guangdong Yudean Anxin Electric Inspection & Installation Co., Ltd|
|Company|to||
||Refers||
|Guohua Taishan||Guangdong Guohua Yudean Taishan Power Generation Co., Ltd.|
||to||
||Refers||
|Yudean Industry Fuel Company||Guangdong Power Industry Fuel Co., Ltd.|
||to||
||Refers||
|Huadu Natural Gas Company||Guangdong Huadu Natural GasT Thermal Power Co., Ltd.|
||to||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
||Refers||
|Dapu Company||Guangdong Dapu Power Generation Co., Ltd.|
||to||
||Refers||
|Wind Power Company||Guangdong Wind Power Co., Ltd.|
||to||
||Refers||
|Lincang Company||Lincang Yuntou Yudean Hydroelectricity Development Co., Ltd.|
||to||
||Refers||
|Qujie Wind Power Company||Guangzhou Yudean Qujie Wind Power Generation Co., Ltd.|
||to||
||Refers||
|Electric Power Sales Company||Guangdong Yudean Electric Power Sales Co., Ltd.|
||to||
||Refers||
|Weixin Yuntou||Weixin Yuntou Yudean Zhaxi Energy Co., Ltd.|
||to||
||Refers||
|Binglang Jiang Company||Yunnan Baoshan Binlangjiang Hydroelectricity Development Co., Ltd.|
||to||
||Refers||
|Yongan Natural Gas Company||Guangdong Yudean Yongan Natural Gas Thermal Power Co., Ltd.|
||to||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 II. Corporate Profile and Key Financial Results
1.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|Huang Zhenhai|||

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

III. Other conditions
1. Way of Contact:
Whether the company registered address, office address, post code, company website and email address have been changed within the report period.
√ Applicable□Not applicable
|||
|-|-|
||36-36/F, South Tower, Yudean Plaza, No.2 Tianhe Road East,|
|The company registered address||
||Guangzhou,Guangdong Province|
|Postal code of registered address|510630|
||36-36/F, South Tower, Yudean Plaza, No.2 Tianhe Road East,|
|The company office address||
||Guangzhou,Guangdong Province|
|Postal code of business address|510630|
|Website|http://www.ged.com.cn|
|Company E-mail Address|ged@ged.com.cn|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||
|-|-|
|Appointed website inquiry date disclosed in the||
||March 1,2017|
|temporary announcement (if any)||
|Appointed website inquiry index disclosed in the||
||http://www.cninfo.com.cn|
|temporary announcement (if any)||

2. Information disclosure and designated locations
Whether information disclosure and designated location have been changed within the report period.
□ Applicable√Inapplicable
The information disclosure newspaper name appointed by the company, website appointed by the Chinese Securities Regulatory Commission to publish the half-year report, and the designated location as specified in the half-year report have not been changed within the report period. Please refer to the 2016 Annual Report.
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（RMB）|12,385,486,577.00|10,234,989,566.00|21.01%|
|Net profit attributable to the shareholders|128,735,725.00|738,374,784.00||
||||-82.56%|
|of the listed company（RMB）||||
|Net profit after deducting of non-recurring||||
|gain/loss attributable to the shareholders|156,802,731.00|743,501,966.00|-78.91%|
|of listed company（RMB）||||
|Cash flow generated by business|1,578,925,284.00|4,696,500,182.00||
||||-66.38%|
|operation, net（RMB）||||
|Basic earning per share(RMB/Share)|0.0245|0.14|-82.50%|
|Diluted gains per|0.0245|0.14||
||||-82.50%|
|share(RMB/Share)(RMB/Share)||||
|Weighted average ROE(%)|0.55%|3.09%|-2.54%|
||As at the end of the|||
|||As at the end of last year|YoY+/-（%）|
||reporting period|||
|Total assets（RMB）|70,230,573,061.00|70,677,003,760.00|-0.63%|
|Net assets attrilutable to shareholder of|23,104,526,322.00|23,378,847,225.00||
||||-1.17%|
|listed company（RMB）||||

V.The differences between domestic and international accounting standards
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 20171．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|128,735,725.00|738,374,784.00|23,104,526,322.00|23,378,847,225.00|
|Items and amount adjusted according to IAS|||||
|The difference arising from|||||
|recognition of goodwill after|||||
||||64,623,000.00|64,623,000.00|
|merger of enterprises under|||||
|the same control|||||
|Difference arising from|||||
|recognition of land use value|-315,000.00|-315,000.00|18,545,000.00|18,860,000.00|
|after enterprise merger|||||
|Influence on minority interests|27,060.00|27,060.00|4,674,919.00|4,701,979.00|
|Accouding to IAS|128,447,786.00|738,086,844.00|23,127,746,242.00|23,467,032,204.00|

 2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards.
□ Applicable√Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign accounting rules or Chinese GAAP(Generally Accepted Accounting Principles) in the period.
3.Note to the Difference in the Accounting Data based on the Accounting Standards of CAS and IAS.
√ Applicable□ Not applicable
(a) The difference arising from recognition of goodwill after merger of enterprises under the same control and recognition of land value after enterprise merger.
As required by new Chinese accounting standards, the goodwill formed by the merger of enterprises under the same control shall not be recognized and capital surplus shall be adjusted. Under IFRS, the golldwill formed by the merger of enterprises under the same control shall be recognized and equal to the difference between merger cost and share of fair value of recognizable net assets of the purchased party obtained in merger. Meanwhile, all assets of the purchased party obtained in merger shall be accounted for according to
their fair value while such assets shall be accounted for according to their book value according to original
Chinese accounting standards for business enterprises. Therefore, this difference will continue to exist.
(b) Influence on minority interests
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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 for|612,592.00||
|which assets impairment provision is made)|||
|Govemment subsidy recognized in current gain and loss(excluding|2,257,231.00||
|those closely related to the Company’s business and granted under|||
|the state’s policies)|||
||-28,088,810.00|Guangqian company received theDecisions on Handling of the Tax Affairs(SGSJC[2017] No.0013) issued by theInspection Department of ShenzhenMunicipal Office, SAT on June 26, 2017,which requires Guangqian company topay VAT and overdue fees. Suchdecisions are under negotiation amongseveral parties at present.|
|Effect on current gains/losses when a one-off adjustment is make|||
|tocurent gains/losses according to requirements of taxation.|||
|Other non-business income and expenditures other than the above|-3,175,695.00||
|Less: Amount of influence of income tax|980,615.00||
|Influenced amount of minor shareholders’ equity (after tax)|-1,308,291.00||
|Total|-28,067,006.00|--|

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 2017 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 30,2017, the controllable installed capacity is 20 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, 2.34 million KW and 310000 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 report period, the average electricity sale price in the company consolidated statement is 444.39 yuan/MWH (tax-inclusive, similarly hereinafter) and decreases by 18.77 yuan/MWH on YoY basis including 24.48 yuan/ Mwh decrease due to the market electricity discount; The electricity sold is 32.246 billion KWH, 6.775 billion KWH YoY increase;The gross revenue is RMB12385.4866 million , increased byRMB 2150.4970 million on YoY , increased by21.01%.
Coal-burning power generation is our focus. As fuel costs hold a great proportion in operating costs, fluctuations in coal price mean a lot to the business performance. In the reporting period, the power fuel cost is 7963.7236 million Yuan, accounting for72% of main business,3611.023 million Yuan YoY increase, increased by82.96%. The power supply standard coal unit price (kerosene oil-gas) is 804.34 yuan/t increased by44.33% in amount of 247.03 yuan/t on YoY basis, increased by44.33%.
In the report period, the company business performance decreases constantly due to the constant increase of the coal price and the increasingly-intensified electricity market competition and realizes 128.7357 million for the net profits attributable to the listed company shareholders, which decreases by82.56% on year-on-year basis.Ⅱ.Major Changes in Main Assets
1.Major Changes in Main Assets
|||
|-|-|
|Main assets|Major changes|
|Equity assets|No major changes|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||
|-|-|
|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
Ⅲ.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. The controllable installed capacity has been expanded to 20 million KW of year-end 2016 from 8.08 million KW of year-end 2011, power generation to 59.923 billion KWH in 2016 from 35.305 billion KWH in 2011.
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. It has undertaken that in five years of the last major asset reorganization, it will inject its asset complying with listed conditions through acquisition, restructuring and other ways. Based on this, our installed capacity is going to embrace another leap-frog growth.
3. 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. It has undertaken that in five years of the last major asset reorganization, it will inject its asset complying with listed conditions through acquisition, restructuring and other ways. Based on this, our installed capacity is going to embrace another leap-frog growth.
4. Stepwise optimization of industrial structure and power source structure
The company takes the power generation as the core business accompanied with optimized development of the
coal-fired power, stable development of gas electricity and energetic development of the wind power and water
power, etc., optimizes the power source structure constantly and improves the market competition. which are
gradually optimized accompanied by acquisition of and progress in clean energy projects.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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”, exploit new realms of business
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.
IV. Performance Discussion and Analysis
Ⅰ.General
In the report period, the total electricity consumption of the society in Guangdong is 268.16 billion kWh and increases by4.6% on year-on-year basis with slightly higher increase rate. As West electricity quantity supply increases by 8.97 billion kWh compared with that in the plan, the provincial nuclear power quantity and pneumoelectric quantity increase by12.47% and3.51% on year-on-year basis respectively, the provincial hydroelectric power quantity decreases by36.27% on year-on-year basis, and the average utilization time for the company controlled coal-fired units is 1959 hours and increases by 403 hours on year-on-year basis.
In the report period, the company net profits attributable to the listed company shareholders decrease sharply on year-on-year basis due to the influence of the rising coal price and electricity market trade “discount”. Until June 2017, the total standard assets in the company consolidated statement is 70.231 billion yuan and decreases by0.63% compared with that in the beginning of the year; the interests attributable to the listed company shareholders is 23.105 billion yuan and decreases by1.17% compared with that in the beginning of the year. The standard business revenue realized in the company consolidated statement is 12.385 billion yuan and increases by21.01% on year-on-year basis; the net profits attributable to the listed company shareholders is 129 million yuan and decreases by82.56% on year-on-year basis; the revenue per share is 0.0245 yuan (that for the same period of the previous year is 0.1406 yuan). The total standard debt in the company consolidated statement is 41.323 billion yuan with the asset-liability ratio of58.84%.
In the report period, the company faces directly the adverse environment of the excess power capacity, “market electricity” scale expansion and rising coal price, etc. and strives to change in the economic development new normality positively. It strives to battle for the electricity quantity centering on each core index and key work determined at the beginning of the year. The standard on-grid electricity quantity in the company consolidated statement increases by26.6% on year-on-year; it builds the early warning mechanism on the completion conditions of key indexes and implements the same per level, strives to increase benefits by all means and endeavors to realize profits in the first half year under the premise of losses occurrence in the first quarter, among which, the net profits of the wind power business realizes increase constantly and increases by148.87% on
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 year-on-year basis. The electricity sale subsidiaries of the company always keep the market competition advantages, the long-term agreed and monthly concentrated bidding electricity quantity for previous years accounts for12.6% of the same type trade market scale under the case where the first-half-year long-term agreed electricity quantity realizes 11.107 billion kWh and the electricity quantity participating in the monthly concentrated bidding is 1.074 billion kWh and the company continues to maintain the leading role in the market. The company carries forward the supply-side structure reform firmly, continues developing the clean energy plate subject to the 13th Five-year Development Planning Report approved by the Board of Directors through deliberation. And additional 2 controllable wind power projects totaling 80,000 kW are approved during the report period and 2 controllable wind power projects totaling 100,000 kW are included into the local wind power development and construction spare scheme in 2017. At the same time, the company implements carefully the national requirements on the coal-fired units ultra-low emission and energy transformation and completes the ultra-low emission transformation work of 8 fired-coal units totaling 4.27 million kW in the first half 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
||||||
|-|-|-|-|-|
||||YOY change||
||This report period|Same period last year||Cause change|
||||（%）||
|Operating income|12,385,486,577.00|10,234,989,566.00|21.01%||
||11,126,689,991.00|7,767,910,229.00||The power fuel cost increases sharply on|
|||||year-on-year basis due to the coal price rising in|
|Operating cost|||43.24%||
|||||the first half year mainly and the business cost|
|||||increases therefore.|
||2,788,458.00|736,468.00||To grasp the power market transformation|
|||||opportunity, the company strengthens the input|
|Sale expenses|||278.63%|degree into the power market marketing business|
|||||resulting in the sharp increase of the sales cost on|
|||||the year-on-year basis.|
|Administrative|285,963,326.00|348,730,393.00|||
||||-18.00%||
|expenses|||||
|Financial|637,643,570.00|701,972,431.00|||
||||-9.16%||
|expenses|||||
||148,691,823.00|415,482,070.00||The income tax decreases significantly due to the|
|Income tax|||||
||||-64.21%|sharp decrease of the current year profitability on|
|expenses|||||
|||||year-on-year basis.|
|||||The R&D input increases on the year-on-year|
|R & D Investment|4,001,008.13|3,070,961.84|30.29%|basis due to the addition of the R&D projects in|
|||||the current year.|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
||1,578,925,284.00|4,696,500,182.00||The cash for purchasing goods and receiving the|
|Cash flow|||||
|||||labor payment increases sharply on year-on-year|
|generated by|||||
||||-66.38%|basis due to the coal price rising in the first half|
|business|||||
|||||year and results in the net cash flow decrease of|
|operation, net|||||
|||||the operating activities.|
|Net cash flow|-1,328,116,995.00|-1,373,180,461.00|||
|generated by|||-3.28%||
|investment|||||
||-538,938,738.00|-2,442,565,613.00||The cash paid by the distributable profits in the|
|||||current year decreases sharply on year-on-year|
|||||basis due to the decrease influence of profits in|
|Net cash flow|||||
|||||the previous year; the cash received from loans in|
|generated by|||-77.94%||
|||||the current year increases to some extent on|
|financing|||||
|||||year-on-year basis due to the supplementary|
|||||operating capital and results in the large change|
|||||of the net cash flow from the financing activities.|
||-288,130,449.00|880,754,108.00||The net increase amount of the cash and cash|
|Net increasing of|||||
|||||equivalent decreases sharply on year-on-year|
|cash and cash|||-132.71%||
|||||basis due to the decline influence of the net cash|
|equivalents|||||
|||||flow from operating activities mainly.|

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|Increase/decrease|
|||||Increase/decrease|||
||||||of principal|of gross profit|
|||||of reverse in the|||
||||Gross profit||business cost over|rate over the|
||Operating revenue|operating costs||same period of|||
||||rate(%)||the same period|same period of|
|||||the previous|||
||||||of previous year|the previous year|
|||||year(%)|||
||||||(%)|(%)|
|Industry|||||||
|Electric power ,|||||||
|Steam sales and|12,301,242,987.00|11,116,293,804.00|9.63%|20.19%|43.11%|-60.0414.47%|
|labor income|||||||
|Products|||||||
|Electric power ,|||||||
|Steam sales and|12,301,242,987.00|11,116,293,804.00|9.63%|20.19%|43.11%|-14.47%|
|labor income|||||||
|Area|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||
|-|-|-|-|-|-|-|
|Guangdong|12,289,495,923.00|11,109,494,245.00|9.60%|20.95%|43.39%|-14.15%|
|Yunnan|11,747,064.00|6,799,559.00|42.12%|30.39%|1.67%|16.35%|

 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||||
||||||Change in||
|||||As a||Reason for|
|||As a percentage|||percentage(||
||Amount||Amount|percentage of||significant change|
|||of total assets(%)|||%)||
|||||total assets(%)|||
|Monetary fund|4,896,743,201.00|6.97%|6,108,160,833.00|8.48%|-1.51%||
|Accounts|2,827,797,598.00||||||
|||4.03%|2,599,665,735.00|3.61%|0.42%||
|receivable|||||||
|Inventories|1,662,109,165.00|2.37%|1,459,056,607.00|2.03%|0.34%||
|Real estate|8,614,438.00||||||
|||0.01%|9,250,037.00|0.01%|0.00%||
|Investment|||||||
|Long-term equity|5,686,638,558.00||||||
|||8.10%|5,908,278,126.00|8.20%|-0.10%||
|investment|||||||
|Fixed assets|40,224,030,838.00|57.27%|44,317,670,244.00|61.52%|-4.25%||
|Construction in|7,137,424,507.00||||||
|||10.16%|5,257,560,494.00|7.30%|2.86%||
|process|||||||
|Short-term loans|9,565,000,000.00|13.62%|6,611,440,000.00|9.18%|4.44%||
|Long-term loans|19,321,368,430.00|27.51%|21,150,686,546.00|29.36%|-1.85%||

2.Asset and Liabilities Measured by Fair Value
√ Applicable□Not applicable
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|||Gain/loss on|||Purchase|Sold||
||||Cumulative fair|Impairment||||
||Amount at yearbeginning|fair value|||d amount|amount in|Amount at year|
||||value change|provisions in||||
|Item||change in the|||in the|the||
||||recorded into|the reporting|||end|
|||reporting|||reporting|reporting||
||||equity|period||||
|||period|||period|period||
|Financial assets||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|1.Financial assets|||||
|measured by fair|||||
|value and whose|||||
|change is recorded in|||||
||0.00|||0.00|
|current gains and|||||
|losses(excluding|||||
|derivative financial|||||
|assets)|||||
|2.Derivative|||||
||0.00|||0.00|
|financial assets|||||
|3.Financial assets|||||
||419,736,308.00|22,564,867.00|186,972,559.00|442,301,175.00|
|available for sale|||||
|Subtotal of|||||
||419,736,308.00|22,564,867.00|186,972,559.00|442,301,175.00|
|financialassets|||||
|Investment real|||||
||0.00|||0.00|
|estate|||||
|Projective biological|||||
||0.00|||0.00|
|asset|||||
|Other|0.00|||0.00|
|Total|419,736,308.00|22,564,867.00|186,972,559.00|442,301,175.00|
|Financial Liability|0.00|||0.00|

 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
Not applicable
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 V.Investment situation
1. General
√ Applicable□ Not applicable
||||
|-|-|-|
||Investment of same period of last year||
|Investment of the period（RMB）||Scale of change|
||(RMB)||
|262,000,000.00|409,500,000.00|-36.02%|

2.Condition of Acquiring Significant Share Right Investment during the Report Period
√Applicable□ Not applicable
In RMB
||||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||||Wheth|||
||||||Capita||Invest|||||er to|||
||Main|Invest||Share|||||Progress up to||Gain or Less||Date of||
|||||||||||Antici|||||
|Name of the|||Investment||l||ment|Produc||||Involv|||
||Busin|ment||Proportion||Partner|||Balance Sheet|pated|or the Current||Disclosure|Disclosure Index|
|Company Invested|||Amount||Sourc||Horiz|t Type||||e in|||
||ess|Way||%|||||Date|Incom|Investment||(Note 5)||
||||||e||on|||||Lawsu|||
|||||||||||e|||||
|||||||||||||it|||
|||||||||||||||Name of|
||||||||||The total||||||
|||||||||||||||Announcement :Announce|
||||||||||construction||||||
||Ther||||||||progress for the|||||ment on External Investment|
|||Capita|||||||||||||
|Guangdong Yudean|mal|||||||Electri|wharf project||||||
|||l|||Ownf||Long-t||||||October||
|Bohe Coal-fired|power||115,000,000.00|100.00%||No||c|maritime work is|--|-5,554,851.00|No||（ 2012-45 ） ，|
|||increas|||unds||erm||||||31,2012||
|||||||||||||||Published in|
|Power Co., Ltd|,logist|||||||power|completed about||||||
|||e|||||||||||||
||ics||||||||72% and the power|||||China Securities Daily,|
||||||||||plant project is not|||||Securities Times and|
||||||||||approved|||||http//.www.cninfo.com.c|
|||||||||||||||n|
|Guangdong Yudean|Prope|Newly|147,000,000.00|49.00%|Ownf|Guangdong|Long-t|Insura|In preparation|--|--|No|December|Name of|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Property|rty|establi|||unds|Yudean Group|erm|nce|||||12,2015|Announcement :Announce|
|Insurance Co.,|Insura|shed||||（shareholding|||||||||
|||||||||||||||ment on related transaction|
|Ltd.|nce|||||ratio：51%）|||||||||
|||||||||||||||（ 2015-52 ） ，|
|||||||||||||||Published in|
|||||||||||||||China Securities Daily,|
|||||||||||||||Securities Times and|
|||||||||||||||http//.www.cninfo.com.c|
|||||||||||||||n|
|Total|--|--|262,000,000.00|--|--|--|--|--|--|--|-5,554,851.00|--|--|--|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||Mode of|Book value|||Purchase||||||
||||||||||Sale||Book value|||
|||Stock||accountin|balance at the|Changes in|Cumulative fair|amount||Gain/loss of the||||
|Security|Security||Initial||||||amount in||balance at the|Accounting|Source of|
|||Abbreviati||g|beginning of|fair value of|value changes in|in the||reporting||||
|category|code||investment cost||||||the this||end of the|items|the shares|
|||on:||measure|the reporting|the this period|equity|this||period||||
||||||||||period||reporting period|||
|||||ment|period|||period||||||
|Domestic||||||||||||||
|||||Fair value||||||||Financial assets||
|and||Shenzhen|||||||||||Own-Fun|
||000027||15,890,628.00|measure|86,562,000.00|-1,764,000.00|68,907,372.00|0.00|0.00|1,890,000.00|84,798,000.00|available for||
|foreign||Energy|||||||||||ds|
|||||ment||||||||sales||
|stocks||||||||||||||
|Domestic||||||||||||||
|||||Fair value||||||||Financial assets||
|and|||||||||||||Own-Fun|
||600642|Shenergy|235,837,988.00|measure|325,974,308.00|23,878,867.00|114,015,187.00|0.00|0.00|0.00|349,853,175.00|available for||
|foreign|||||||||||||ds|
|||||ment||||||||sales||
|stocks||||||||||||||
|Domestic||||||||||||||
|||||Fair value||||||||Financial assets||
|and|||||||||||||Own-Fun|
||831039|NEEQ|3,600,000.00|measure|7,200,000.00|450,000.00|4,050,000.00|0.00|0.00|234,000.00|7,650,000.00|available for||
|foreign|||||||||||||ds|
|||||ment||||||||sales||
|stocks||||||||||||||
|Total|||255,328,616.00|--|419,736,308.00|22,564,867.00|186,972,559.00|0.00|0.00|2,124,000.00|442,301,175.00|--|--|
|Disclosure date for the notice of||||||||||||||
|approval by the Board (If any)||||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||
|-|
|Disclosure date for the notice of|
|approval by shareholders’|
|Meeting (If any)|

（2）Investment in Derivatives
□ Applicable√ Not applicable
The Company had no investment in derivatives in the reporting period.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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 2017Ⅶ.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
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||Main||Registered||||||
|Company name|Type||Industry||Total assets|Net assets|Turnover|Operating profit|Net Profit|
|||business||capital||||||
||||Power generation and|||||||
||Subsidiar|Electric||||||||
|Zhangjiang Electric Power Co., Ltd.|||power station|2,875,440,000.00|4,296,991,487.00|3,978,088,766.00|788,546,128.00|75,036,138.00|54,502,661.00|
||y|Power||||||||
||||construction|||||||
||||Power generation and|||||||
|Guangdong Yuejia Electric Power|Subsidiar|Electric||||||||
||||power station|1,080,000,000.00|483,403,239.00|478,058,229.00|1,933,729.00|-46,912,517.00|-46,912,517.00|
|Co., Ltd.|y|Power||||||||
||||construction|||||||
||||Power generation and|||||||
|Guangdong Shaoguan Yuejiang|Subsidiar|Electric||||||||
||||power station|1,400,000,000.00|6,727,651,527.00|795,017,138.00|1,144,815,444.00|-207,003,812.00|-207,661,147.00|
|Power Generation Co., Ltd.|y|Power||||||||
||||construction|||||||
||||Power generation and|||||||
|Maoming Zhenneng Thermal power|Subsidiar|Electric||||||||
||||power station|1,019,535,500.00|3,026,240,699.00|1,014,224,843.00|770,107,438.00|-74,820,730.00|-56,100,547.00|
|Co., Ltd.|y|Power||||||||
||||construction|||||||
||||Power generation and|||||||
||Subsidiar|Electric||||||||
|Zhanjiang Zhongyue Enerty Co., Ltd.|||power station|1,454,300,000.00|5,118,845,372.00|1,230,009,046.00|939,029,047.00|-39,879,066.00|-29,982,353.00|
||y|Power||||||||
||||construction|||||||
||||Power generation and|||||||
|Shenzhen Guangqian Electric Power|Subsidiar|Electric||||||||
||||power station|1,030,292,500.00|2,211,543,016.00|1,314,987,896.00|732,370,062.00|91,491,851.00|33,186,229.00|
|Co., Ltd.|y|Power||||||||
||||construction|||||||
|Guangdong Red Bay Power|Subsidiar|Electric|Power generation and|||||||
|||||2,749,750,000.00|7,212,363,525.00|3,170,644,837.00|1,859,528,654.00|109,635,425.00|82,409,392.00|
|Generation Co., Ltd.|y|Power|power station|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||construction|||||||
||||Power generation and|||||||
|Guangdong Huizhou Pinghai Power|Subsidiar|Electric||||||||
||||power station|1,370,000,000.00|6,200,787,590.00|1,898,759,547.00|1,648,628,423.00|344,195,241.00|248,858,396.00|
|Generation Co., Ltd.|y|Power||||||||
||||construction|||||||
||||Power generation and|||||||
|Guangdong Huizhou Natural gas|Subsidiar|Electric||||||||
||||power station|1,159,370,000.00|2,907,661,274.00|1,456,542,085.00|674,243,898.00|74,093,823.00|55,574,470.00|
|Power Generation Co., Ltd.|y|Power||||||||
||||construction|||||||
|||Coal||||||||
||Sharing||Investment and Assets|||||||
|Shanxi Yudean Enerty Co., Ltd.||Investmen||1,000,000,000.00|2,962,511,661.00|2,738,949,603.00|558,089.00|262,966,124.00|262,966,125.00|
||Company||Management|||||||
|||t||||||||
|Guangdong Yudean Finance Co.,|Sharing|||||||||
|||Finance|Finance service|2,000,000,000.00|18,155,012,059.00|2,632,844,958.00|288,014,924.00|228,745,795.00|184,657,686.00|
|Ltd.|Company|||||||||
|Guangdong Electric Power Industrial|Sharing|||||||||
|||Fuel trade|Fuel trade|630,000,000.00|3,188,812,400.00|948,526,603.00|9,762,707,487.00|86,948,991.00|70,938,555.00|
|Fuel Co., Ltd.|Company|||||||||
||||Power generation and|||||||
|Guangdong Guohua Yudean Power|Sharing|||||||||
|||Power|power station|4,669,500,000.00|12,315,041,251.00|7,634,800,153.00|3,240,744,080.00|425,362,397.00|315,111,648.00|
|Generation Co., Ltd.|Company|||||||||
||||construction|||||||

Subsidiaries obtained or disposed in the reporting period
□ Applicable√ Not applicable
Notes
In the report period, the profits of the coal-fired power plants of the company decrease to a large extent on year-on-year basis due to influence of the coal price rising and electricity price decline. Partial subsidiaries have operating losses such as Yuejiang company, Zhanjiang Zhongyue, Zhenneng company and Dapu power plant. Among joint-stock companies, Shanxi energy profitability increases relatively sharply on year-on-year basis due to the influence of the fuel price rising.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017VIII．Structured vehicle controlled by the Company
□ Applicable√ Not applicable
IX. Prediction of business performance for January -September 2017
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
The company will still face severe operating environment in the second half year of 2017. Firstly, the coal supply will become intense and the price rising will not change through predication; secondly, the fiercer competition of the power market trade may cause the increase of the power price decrease degree; thirdly, the successive release of the provincial newly-commissioning nuclear power and pneumoelectric capacity will squeeze the coal power share; fourthly, the constantly-tense capital market and rising interest rate will cause the capital cost increase; fifthly, the upgrading and reconstruction of coal-fired units may produce the influence on the electricity quantity to some extent. The company will continue implementing the early warning mechanism for the completion conditions of key indexes and endeavor to realize the target of the whole year; promote the clean energy development and the on-schedule commissioning of projects under construction.
1. It will grasp the favorable opportunity of the base electricity quantity adjustment in the
3rd
quarter in Guangdong and endeavor to increase the annual electricity quantity target; participate in bidding in the scientific ways and battle for the “market power” share positively; arrange the ultra-low emission transformation reasonably and reduce the influence thereof on the electricity quantity; research and judge scientifically before participating in the power generation rights transfer trade.
2. It will continue implementing the early mechanism on the completion conditions of key indexes; keep an eye on the capital conditions of the company and subsidiaries, conduct the overall planning, start properly the registration work of ultra-short financing and medium-period notes, expand the financing channels and control the comprehensive financing costs; continue conducting the benchmarking on the subordinate powerplants’ units and domestic advanced units and endeavor to increase the units reliability and operation economy through “strengthening weaknesses”.
3. It will continue paying attention to policies and market dynamics of the energy industry and relevant industries of upstream and downstream, search for excellent project investment opportunities positively; promote the approval work of Bohe power plant and Zhaoqing natural gas cogeneration project; assist the dominant shareholders in promoting relevant work of the commitment performance.
4. It will promote each project under construction per schedule, guarantee the whole commissioning of Dayakou project in September; promote the ultra-low emission and energy conservation transformation work and plan to complete the ultra-low emission transformation of 14 coal-fired units totaling 7.06 million kW in the second year.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 V. Important Events
I. Annual General Meeting and ExtraordinaryShareholders’ Meetings in the Reporting Period
1.Annual General Meeting
|||||||
|-|-|-|-|-|-|
|||Investor||||
|Meeting|Type|participation|Convened date|Disclosure date|Index to disclosed information|
|||ratio||||
||||||Name of|
||||||Announcement :Announcement of|
||Annual||||Resolution of 2016 shareholders’|
|2016||||||
||Shareholders’||||general meeting ，Announcement|
|Shareholders’||72.90%|May 17,2017|May 18,2017||
||General||||No.:2017-17.|
|general meeting||||||
||Meeting||||Published in China Securities Daily,|
||||||Securities Times and http//.www.cni|
||||||nfo.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.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 V.Explanations given by board of directors and supervisory board regarding “ Modifiedauditor’s” Issued by CPAs firm for the reporting period
□ Applicable√ Not applicable
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
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.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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
Whether has non-operational contact of related liability and debts or not
□ Yes√ No
No such cases in the reporting period.
6. Other significant related-party transactions
√ Applicable□Not applicable
（1）In 2017, daily related transactions were carried out after examination and approval by 2016 annual shareholders' general meeting. Refer to (5) Related transactions of XII. Relationship between related parties and 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 2016 annual general shareholder meeting for implementation.
(3) Guangdong Shaoguan Yuejiang Power Generation Co., Ltd., as the holding subsidiary of the company, intends to purchase partial fixed assets of Guangdong Shaoguan No.9 Power Unit Joint Venture Co., Ltd. through conclusion of an agreement in the proposed price of 24.8628 million yuan (the final purchase price shall be subject to the asset evaluation price approved in the file of the State Capital Management Department), which was approved by the
1st
session for communication of the
8th
Board of Directors of the company in 2017 through deliberation.
Website for temporary disclosure of the connected transaction
||||
|-|-|-|
|Announcement|Date of disclosure|Website for disclosure|
|Daily related transaction announcement|April 26,2017|http//www.cninfo.com.cn.|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Announcement on the Company’s Related Transaction of GuangdongYudean Finance Co., Ltd.|||
||April 26,2017|http//www.cninfo.com.cn.|
|Announcement on the related party Transactions of Guangdong ShaoguanYuejiang Power Generation Co., Ltd. Purchasing Part Fixed Assets ofGuangdong Shaoguan No.9 Power Unit Joint Venture Co., Ltd.|||
||June 1,2017|http//www.cninfo.com.cn.|

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
No trusteeship, contract or leasing for 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
InRMB’0000
||||||||||
|-|-|-|-|-|-|-|-|-|
|External Guarantee (Exclude controlled subsidiaries)|||||||||
||Relevant||Date of|Actual|||Complete|Guarantee|
|Name of the||Amount of|||Guarantee|Guarantee|||
||disclosure||happening|mount of|||implementa|for|
|Company||Guarantee|||type|term|||
||date/No. of||(Date of|guarantee|||tion|associated|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||||
|-|-|-|-|-|-|-|-|-|
||the||signing||||or not|parties|
||guaranteed||agreement)|||||(Yes or no)|
||amount||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteei||||
|Hydroelectricity|May 24,2007|4,350|December 19,2007|2,610|ng of joint|15 years|No|No|
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteei||||
||December||||||||
|Hydroelectricity||4,350|November 30,2007|1,073|ng of joint|15 years|No|No|
||19,2007||||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteei||||
||November||||||||
|Hydroelectricity||7,250|November 14,2008|870|ng of joint|12 years|No|No|
||12,2008||||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteei||||
|Hydroelectricity|May 27,2009|9,367|June 22,2009|6,467|ng of joint|18 years|No|No|
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteei||||
|Hydroelectricity|May 27,2009|7,250|May 27,2009|3,625|ng of joint|15 years|No|No|
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|||||Total actually amount|||||
|Total amount of approved external||||of external guarantee|||||
|||0||||-406|||
|guarantee in the report period(A1)||||in the report|||||
|||||period(A2)|||||
|||||Total actually amount|||||
|Total amount of approved external|||||||||
|||||of external guarantee|||||
|guarantee at the end of the report||190,835||||14,645|||
|||||at the end of the report|||||
|period(A3)|||||||||
|||||period(A4)|||||
|Guarantee of the company for its subsidiaries|||||||||
||Relatedannouncementdate and no.||||||Complete|Guarante|
|||||Actually|||||
|Name of the||Amount of|Date of happening(date||Guarantee|Guarante|implemen|e for|
|||||guarantee|||||
|company guaranteed||guarantee|of signing agreement)||type|e term|tation or|related|
|||||amount|||||
||||||||not|party(yes|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||||||or no)|
|Zhanjiang Wind||||||||||Guaranteei|||||
|Power Generation||April 29,2009||18,571.7||October 9,2010||8,575.53||ng of joint||18 years|No|No|
|Co., Ltd.||||||||||liabilities.|||||
|Guangdong|||||||||||||||
|||||||||||Guaranteei|||||
|Shaoguan Yuejiang||November|||||||||||||
|||||9,000||January 28,2014||5,670||ng of joint||7 years|No|No|
|Power Generation||16,2013|||||||||||||
|||||||||||liabilities.|||||
|Co., Ltd.|||||||||||||||
|Guangdong|||||||||||||||
|||||||||||Guaranteei|||||
|Shaoguan Yuejiang||November|||||||||||||
|||||8,100||January 29,2014||4,770||ng of joint||7 years|No|No|
|Power Generation||16,2013|||||||||||||
|||||||||||liabilities.|||||
|Co., Ltd|||||||||||||||
|||||||||Total of actual|||||||
|Total of guarantee for subsidiaries||||||||guarantee for|||||||
|||||0||||||||-7,543.61|||
|approved in the period(B1)||||||||subsidiaries in the|||||||
|||||||||period (B2)|||||||
|||||||||Total of actual|||||||
|Total of guarantee for subsidiaries||||||||guarantee for|||||||
|||||141,536||||||||19,015.53|||
|approved at period-end(B3)||||||||subsidiaries at|||||||
|||||||||period-end(B4)|||||||
|Guarantee of the subsidiaries for the controlling subsidiaries|||||||||||||||
|||||||||||||||Guarante|
||Relevant|||||||||||||e|
||||||Date of||||||||Complete||
||disclosure|||||||||||||for|
|Name of the|||Amount||happening||Actual||||||implemen||
||date/No. of||||||||Guarantee||Guarantee|||associate|
|Company|||of||(Date o||mount of||||||tation||
||the||||||||type||term|||d|
|guaranteed|||guarantee||signing||guarantee||||||or||
||guaranteed|||||||||||||parties|
||||||agreement)||||||||not||
||amount|||||||||||||(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|||0||||actually incurred in the||||-7,949.61||||
|（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||||33,660.53||||
|reporting period（A3+B3+C3|||）||||reporting period（A4+B4+C4）||||||||
|The proportion of the total amount of actually guarantee in the|||||||||||||||
||||||||1.46%||||||||
|netassetsof the Company (that is A4+B4+C4）%|||||||||||||||
|Including：|||||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||
|-|-|
|The debts guarantee amount provided for the||
|Guaranteed parties whose assets-liability ratio exceed|25,085|
|70% directly or indirectly（E）||
|Total guarantee Amount of the abovementioned guarantees||
||25,085|
|（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.Overview of the annual targeted poverty alleviation
（1）Half-year poverty relieving summary
In the report period, the company continues implementing Guangdong scheme of “three-year crucial goals for the target poverty alleviation” and organizes the manpower, materials and financial resources into the poverty alleviation. The six subsidiaries carry out the targeted poverty alleviation and oriented assistance work subject to the formulated poverty alleviation work plan, which include Yuejiang company, Red Bay company, Jinghai company, Zhenneng company, Zhanjiang company and Dapu company, etc.
（2）Information of the listedcompany’s annual work in targeted poverty alleviation
||||
|-|-|-|
||Measurement||
|Index||Quantity / Status|
||unit||
|I. General situation|——|——|
|Thereinto： 1.Capital|RMB|54.99|
|2. Cash supplies|RMB|3.56|
|3. Ecological protection to poverty alleviation|Person|203|

（3）Subsequent targeted poverty alleviation program
The company and holding subsidiaries will continue implementing relevant provincial, municipal and town
provisions on the targeted poverty alleviation and find out the accurate ways for the targeted poverty alleviation
based on the local conditions. Firstly, insist the party and style construction, promote the ideological building of
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 2.Major environmental protection
The Listed Company and its subsidiary whether belongs to the key sewage units released from environmental protection department
Yes
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||||Emission|||||Excessiv|
||Main pollutant||Emissi|port|||||e|
|Company or||Emission||||Implemented pollutant emission|Total|Verified total||
||and specific||on port|distributio|Emission concentration||||emission|
|subsidiary name||way||||standards|emission|emission||
||pollutant name||number|n|||||conditio|
|||||condition|||||n|
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||Smoke||2||7.07mg/Nm3||77.86 ton|Not approved|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|Shajiao A power||ed emission||within the||for Thermal Power Plants||||
||SO2||2||24.27mg/Nm3||267.12 ton|Not approved|No|
|plant||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||NOX||2||37.25mg/Nm3||409.92 ton|Not approved|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||Smoke||2||3.55mg/Nm3||24.5 ton|593 ton|No|
|||through||factory||(GB13223-2011) special emission||||
|Dapu Power Plant||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||||within the||||||
||SO2||2||14.25mg/Nm3||99.3 ton|1447 ton|No|
|||ed emission||||for Thermal Power Plants||||
|||||factory||||||
|||through||||(GB13223-2011) special emission||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||NOX||2||29.35mg/Nm3||205.2 ton|1502 ton|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||Smoke||1||10.3mg/Nm3||114.38 ton|600 ton|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|Zhanjiang Tiaoshun||ed emission||within the||for Thermal Power Plants||||
||SO2||1||84.12mg/Nm3||930.7 ton|2046 ton|No|
|Power plant||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||NOX||1||58.1mg/Nm3||638.98 ton|1587 ton|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the|#10：9.14mg/Nm3、#11：8.14mg/Nm3、|for Thermal Power Plants||||
||Smoke||2||||68.16 ton|358.89ton|No|
|||through||factory|#1：3.06mg/Nm3、#2：4.51mg/Nm3|(GB13223-2011) special emission||||
|||chimney||||limit||||
|#1、#2、#10、#11 unit||||||||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|Shaoguan Power||||||||||
|||ed emission||within the|#10：103mg/Nm3、#11：90mg/Nm3、|for Thermal Power Plants||||
|Plant|SO2||2||||508.02 ton|1151.78 ton|No|
|||through||factory|#1：15mg/Nm3、#2：11mg/Nm3|(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||||within the|#10：123mg/Nm3、#11：102mg/Nm3、|||||
||NOX||2||||713.29 ton|1404.54 ton|No|
|||ed emission||||for Thermal Power Plants||||
|||||factory|#1：29mg/Nm3、#2：40mg/Nm3|||||
|||through||||(GB13223-2011) special emission||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the|#1、#2、#3：10 mg/Nm3|for Thermal Power Plants||||
||Smoke||2||||39 ton|594 ton|No|
|||through||factory|#4：30 mg/Nm3|(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|Zhanjiang Power||ed emission||within the|#1、#2、#3：35 mg/Nm3|for Thermal Power Plants||||
||SO2||2||||405 ton|2310 ton|No|
|Plant||through||factory|#4：200 mg/Nm3|(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the|#1、#2、#3：50 mg/Nm3|for Thermal Power Plants||||
||NOX||2||||438 ton|2640 ton|No|
|||through||factory|#4：200 mg/Nm3|(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||Smoke||2||5.25mg/Nm3||112.23 ton|Not approved|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
|Huilai Power plant|SO2||2||42.57mg/Nm3||910.32 ton|Not approved|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||NOX||2||47.56mg/Nm3||1017 ton|Not approved|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||||within the||||||
|Shanwei Power plant|Smoke||2||7.56mg/Nm3||124.95 ton|Not approved|No|
|||ed emission||||for Thermal Power Plants||||
|||||factory||||||
|||through||||(GB13223-2011) special emission||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||SO2||2||32.73mg/Nm3||539.31 ton|Not approved|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||NOX||2||36.47mg/Nm3||655.27 ton|Not approved|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||Smoke||2||6.35mg/Nm3||50.56 ton|370 ton|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|#5、#6、#7 Unit||||||||||
|||ed emission||within the||for Thermal Power Plants||||
|Maoming thermal|SO2||2||38.86mg/Nm3||229.44 ton|3205 ton|No|
|||through||factory||(GB13223-2011) special emission||||
|power Plant||||||||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||NOX||2||46.92mg/Nm3||395.17 ton|4000ton|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||Smoke||2||6.82mg/Nm3||90.19 ton|Not approved|No|
|||through||factory||(GB13223-2011) special emission||||
|Pinghai Power plant||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||||within the||||||
||SO2||2||20.10mg/Nm3||312.35 ton|Not approved|No|
|||ed emission||||for Thermal Power Plants||||
|||||factory||||||
|||through||||(GB13223-2011) special emission||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|||ed emission||within the||for Thermal Power Plants||||
||NOX||2||50.00mg/Nm3||672.53 ton|Not approved|No|
|||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|Qianwan LNG power||ed emission||within the||for Thermal Power Plants||||
||NOX||3||33.69mg/Nm3||219.96 ton|Not approved|No|
|plant||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||
|||Concentrat||||Emission Standard of Air Pollutants||||
|Huizhou LNG power||ed emission||within the||for Thermal Power Plants||||
||NOX||3||32.85 mg/Nm3||260 ton|Not approved|No|
|plant||through||factory||(GB13223-2011) special emission||||
|||chimney||||limit||||

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.
In the report period, the company completes the ultra-low emission transformation work of 8 coal-fired units totaling 4.27 million kW and the pollutant emission concentration (including the emitted smoke and gas) declines sharply on the original basis of the environment-protection emission standards, which reflects the company determination of performing social responsibilities and the environment protection duties and emissions.
XVI.Other material events
□Applicable√ Not applicable
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 No such cases in the reporting period.
XVII. Material events of subsidiaries
□ Applicable√ Not applicable
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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||
||Amount|Proportio|||Capitaliz|||||
|||n|Share|Bonus|ation of||||Proportio|
||||allotme||common|Other|Subtotal|Quantity||
|||||shares|||||n|
||||nt||reserve|||||
||||||fund|||||
|I. Share with conditional||||||||||
||1,897,966,823|36.15%||||||1,897,966,823|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|4,624,202|0.09%||||||4,624,202|0.09%|
|Of which：Domestic||||||||||
||4,620,666|0.09%||||||4,620,666|0.09%|
|legal person shares||||||||||
|Domestic natural person||||||||||
||3,536|0.00%||||||3,536|0.00%|
|shares||||||||||
|II. Shares with||||||||||
|unconditional|3,352,317,163|63.85%||||||3,352,317,163|63.85%|
|subscription||||||||||
|1.Common shares in||||||||||
||2,553,909,163|48.64%||||||2,553,909,163|48.64%|
|RMB||||||||||
|2.Foreign shares in||||||||||
||798,408,000|15.21%||||||798,408,000|15.21%|
|domestic market||||||||||
|III. Total of capital||||||||||
||5,250,283,986|100.00%||||||5,250,283,986|100.00%|
|shares||||||||||

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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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
III. Shareholders and shareholding
In Shares
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||Total number of preferred||||||
|Total number of common||||||shareholders that had restored||||||
|shareholders at the end of the||109,198||||the|||0|||
|reporting period||||||voting right at the end of the||||||
|||||||reporting period (if any) (note 8)||||||
|Particulars about shares held above 5% by shareholders or top ten shareholders||||||||||||
||||Proport|||||||Number of share||
||||ion of|Number of|Changes in||Amount of|Amount of||pledged/frozen||
||Nature of|||||||||||
|Shareholders|||shares|shares held at|reporting||restricted shares|un-restricted||||
||shareholder|||||||||State of|Amou|
||||held|period -end|period||held|shares held||||
|||||||||||share|nt|
||||（%）|||||||||
|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 Hali IndustryCo., Ltd.|DomesticNon-Stateowned legalperson||0.79%|41,387,870|38,403,770|||41,387,870||||
|Li Zhuo|DomesticNatural||0.42%|21,951,385|588,800|||21,951,385||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||||
|-|-|-|-|-|-|-|-|
||person|||||||
|National SocialSecurity Fund 103portfolio|State-ownedlegal person|0.38%|19,994,982||19,994,982|19,994,982||
|BBH A/CVANGUARDEMERGINGMARKETS STOCKINDEX FUND|OverseasLegalperson|0.33%|17,484,844|||17,484,844||
|CHINA INT'LCAPITAL CORPHONG KONGSECURITIES LTD|OverseasLegalperson|0.29%|15,322,336|||15,322,336||
|Harbin Daoli DistrictCharity Foundation|DomesticNon-Stateowned legalperson|0.25%|12,921,300||-2,520,008|12,921,300||
|||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 or concerted action of||||||||
|||have relationships; whether the other shareholders have relationships or unanimous acting was||||||
|the above shareholders||||||||
|||unknown.||||||
|Shareholding of top 10 shareholders of unrestricted shares||||||||
|||||Quantity of unrestricted shares held||Share type||
|Name of the shareholder||||||||
|||||at the end of 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||
|Guangdong Guangfa Electric Power Investment Co.,Ltd.||||116,693,602||RMB Common||
||||||||116,693,602|
|||||||shares||
|Guangdong Electric Power Development Corporation||||94,367,341||RMB Common||
||||||||94,367,341|
|||||||shares||
|Harbin Hali Industry Co., Ltd.||||41,387,870||RMB Common||
||||||||41,387,870|
|||||||shares||
|Li Zhuo||||21,951,385||RMB Common||
||||||||21,951,385|
|||||||shares||
|National Social Security Fund 103 portfolio||||19,994,982||RMB Common||
||||||||19,994,982|
|||||||shares||
|BBH A/C VANGUARD EMERGING MARKETS||||17,484,844||Foreign shares||
||||||||17,484,844|
|||||||placed in||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|STOCK INDEX FUND||domestic||
|||exchange||
|CHINA INT'L CAPITAL CORP HONG KONGSECURITIES LTD|15,322,336|Foreign shares||
|||placed in||
||||15,322,336|
|||domestic||
|||exchange||
|Harbin Daoli District Charity Foundation|12,921,300|RMB Common||
||||12,921,300|
|||shares||
|Explanation on associated relationship or consistent||||
||The fourth largest shareholder Guangdong Electric Power Development|||
|action among the top 10 shareholders of non-restricted||||
||Corporation is the wholly-owned subsidiaries of the largest shareholder|||
|negotiable shares and that between the top 10||||
||Yudean Group. These two companies have relationships; whether the other|||
|shareholders of non-restricted negotiable shares and top||||
||shareholders have relationships or unanimous acting was unknown.|||
|10 shareholders||||
||The Fifth largest shareholder Harbin Hali Industry Co., Ltd.|||
||holds 35,467,266 A shares of the Company through stock account with|||
||credit transaction and guarantee and holds 5,920,604 A shares through|||
||ordinary stock account, hold41,387,870 shares of the Company's stock|||
||totally.|||
||The sixth largest shareholder Li Zhuo. holds 21,911,765 A shares of the|||
|Explanation on shareholders participating in the margin||||
||Company through stock account with credit transaction and guarantee and|||
|trading business(if any )(See Notes 4)|holds 39,620 A shares through ordinary stock account, hold21,951,385|||
||shares of the Company's stock totally.|||
||The Tenth largest shareholder Harbin Daoli District Charity Foundation.|||
||holds 12,783,900 A shares of the Company through stock account with|||
||credit transaction and guarantee and holds 137,400 A shares through|||
||ordinary stock account, hold12,921,300 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
□ 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 2017 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 2017 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 2016 Annual Report.
II. Changes in directors, supervisors and senior management staffs
√ Applicable□ Not applicable
||||||
|-|-|-|-|-|
|Name|Title|Type|Date|Reason|
|Kong Huitian|Director|Resignation|February 8,2017|Retired|
|Hu Xiaolei|Director|Resignation|February 8,2017|Job changes|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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 short||||Bond balance|Interest||
|Bond name||Bond code|Issue day|Due day|||Servicing way|
||name||||‘0000|rate||
||||March18,2013||||Using simple interest rate|
||||||||on a yearly basis,|
|2012 Corporate bonds of||||||||
||||||||regardless of compound|
|Guangdong Electric|||||||interest. Due payments|
||12 Yudean|||March||||
|||112162.SZ|||120,000|4.95%|once a year, maturing|
|Power Development|Bond|||17,2020||||
||||||||debt at a time. In the final|
|Co., Ltd..|||||||phase, interest is paid|
||||||||together with the|
||||||||principal redemption.|
|Corporate bonds listed or trading||||||||
|||Shenzhen Stock Exchange||||||
|places||||||||
|During the reporting period,||The company paid the bond interests of the current year on March 20, 2017 to all the bond||||||
|interest payment situation of the||holders who were registered in China Securities Depository and Clearing Co., Ltd. Shenzhen||||||
|company bonds||branch as of the afternoon of March 17, 2017 when the Shenzhen Stock Exchange closed.||||||
|If the corporate bonds attached||||||||
|to special clauses to the issuer or||||||||
|the investors such as option||The duration of the bonds is 7 years, with redemption option, option of raising coupon rate by the||||||
|clause and exchangeable clause,||issuer and the puttable right for the investors at the end of the fifth year. During the reporting||||||
|please specify the||period, the relevant clauses have not met the conditions for implementation.||||||
|implementation status of the||||||||
|corresponding clauses. (When||||||||
|applicable)||||||||

2. Bond trustee and the credit rating agency information
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Bond trustee：||||||||||
||CITIC||22/F, CITIC Securities Building ,||||Song|||
|Name|Securities Co.,|Office|No.48. Liangmaqiao Road,||Contact||Yilan ,Ko|Tel|010-60838888|
||Ltd.||Chaoyang District , Beijing||||u Zhibo|||
|The credit rating agencies which follow and rate the corporate bond during the reporting period||||||||||
|||||Office||8/F, Anji Building, No.760, Tibet South Road,||||
|Name|CCXR|||||||||
|||||address||Huangpu District, Shanghai.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||
|-|-|
|During the report period, the bond trustee,||
|credit rating agency employed by the||
|company that have changed, reasons for||
||Not applicable|
|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|
||raised funds to repay the loans, thus to adjust the debt structure; the remaining RMB|
||380 million of the raised funds planned for supplementing the company’s liquidity, so|
|The usage and performance of raised funds|as to improve the company’s funds status. The net amount of the funds raised by the|
|from Corporate bonds|bonds had been remitted to the company’s designated bank account on March 20,|
||2013, of which the amount of RMB 820 million 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.|
|At the end of balance (RMB’0000)|0|
|Whether the usage of the raised money||
|corresponding to the purposes of promise,|Yes|
|use plans, and other agreement||

4.Corporate bond rating information
On June 16, 2017, CCXR traced and analyzed the credit status of the company and thecompany’s bonds of “12-Yuedian 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(2017).
5.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). If the issuer performs the redemption option or the investors perform the puttable
right, then the date of March 18 of each year in the period from 2014 to 2018 is the interest paying day for paying
the recent fullyear’s interests of the bonds being redeemed or the bonds being sold back. The maturity date of the
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 bonds is March 18, 2020, and the company will repay the principal and pay the last fullyear’s interest when the bond is due. If the issuer performs the redemption option or the investors perform the puttable right, the maturity date of the bonds being redeemed or the bonds being sold back is March 18, 2018, 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.
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 2016) on May 26, 2017, and the report was disclosed on the cninf website on May 26, 2017 by the company.
8.During the reporting period, the company's major accounting data and financial indicators for last 2 years InRMB’0000
|||||
|-|-|-|-|
|Items|2016|2015|At the same time rate of change|
|Current ratio|63.78%|66.95%|-3.17%|
|Debt ratio|58.84%|58.49%|0.35%|
|Quick ratio|44.12%|46.93%|-2.81%|
||Reporting period|Same period of last year|YoY+/-（%）|
|EBITDA interest coverage ratio|1.7|4.87|-65.09%|
|Loans repayment rate|100.00%|100.00%|0.00%|
|Interest payment rate|100.00%|100.00%|0.00%|

 The material reasons for the changed ratio of the accounting data or financial indicators exceeds30% over the last year
√ Applicable□Not applicable
As the power marketization reform accelerates and the market competition becomes fiercer in the first half year of
2017, the company on-grid power price declines obviously and the coal price keeps rising constantly in the first
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 half year, which results in the sharp decline of the company power generation business profits and larger decline of EBITDA interest coverage times.
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 On June 7, 2016, the company issued 700,000,000 yuan of ultra short-term financing bonds, with a term of 270 days. During the reporting period, the payment of the principal and interest was RMB 715,013,863.
On August 11, 2016, the company issued 500,000,000 yuan of ultra short-term financing bonds, with a term of 270 days. During the reporting period, the payment of the principal and interest was RMB 509,471,068.
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 51.331 billion, of which the used amount limit was RMB 32.135 billion, thus the remaining available bank amount limit was about RMB 19.196 billion. In this year, the company repaid bank loans of about RMB 6.449 billion, and the balance of bank loans was RMB 29.924 billion.
12. Information about fulfillment of the stipulations or commitments specified in the Prospectus of the issuance of the bonds during the reporting period
In the report period, the company implements relevant provisions in the bonds collection manual strictly, pay the bond owners the interest thereof per the schedule agreed in the basic bond provisions and perform the information disclosure obligations related to the bonds per laws. No cases damaging the bondinvestors’ interests occur. 13. Major events occurred during the reporting period
Nil
14. Whether the corporate bonds have a guarantor
□ Yes√No
IX. 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 1. Consolidated balance sheet
Preparedby：Guangdong Electric Power Development Co., Ltd.
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Current asset：|||
|Monetary fund|4,896,743,201.00|5,184,873,650.00|
|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|2,827,797,598.00|2,776,061,909.00|
|Prepayments|915,467,419.00|1,064,822,122.00|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts|||
|receivable|||
|Interest receivable|20,790,253.00|16,681,118.00|
|Dividend receivable|||
|Other account receivable|149,999,099.00|133,499,956.00|
|Repurchasing of financial assets|||
|Inventories|1,662,109,165.00|1,513,153,241.00|
|Assets held for sales|||
|Non-current asset due in 1 year|56,369,497.00||
|Other current asset|967,341,528.00|882,055,591.00|
|Total of current assets|11,496,617,760.00|11,571,147,587.00|
|Non-current assets：|||
|Loans and payment on other’s behalf|||
|disbursed|||
|Disposable financial asset|1,301,952,861.00|1,279,387,994.00|
|Expired investment in possess|||
|Long-term receivable|82,687,240.00|136,075,412.00|
|Long term share equity investment|5,686,638,558.00|5,432,637,750.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Property investment|8,614,438.00|8,932,237.00|
|Fixed assets|40,224,030,838.00|41,814,685,521.00|
|Construction in progress|7,137,424,507.00|6,343,293,763.00|
|Engineering material|1,477,958.00|1,496,854.00|
|Fixed asset disposal|7,266,329.00|4,304,229.00|
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|1,687,520,556.00|1,707,490,221.00|
|R & D petrol|||
|Goodwill|27,486,780.00|27,486,780.00|
|Long-germ expenses to be amortized|29,904,482.00|34,611,712.00|
|Deffered income tax asset|342,952,179.00|303,929,269.00|
|Other non-current asset|2,195,998,575.00|2,011,524,431.00|
|Total of non-current assets|58,733,955,301.00|59,105,856,173.00|
|Total of assets|70,230,573,061.00|70,677,003,760.00|
|Current liabilities|||
|Short-term loans|9,565,000,000.00|5,758,860,000.00|
|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|731,452,959.00|1,330,480,837.00|
|Account payable|2,268,319,920.00|3,167,250,446.00|
|Advance payment|199,798.00|12,456,360.00|
|Selling of repurchased financial assets|||
|Fees and commissions receivable|||
|Employees’ wage payable|206,401,253.00|144,122,128.00|
|Tax payable|328,650,463.00|326,919,844.00|
|Interest payable|115,893,394.00|83,648,793.00|
|Dividend payable|9,703,930.00|9,703,930.00|
|Other account payable|3,305,088,687.00|3,292,556,995.00|
|Reinsurance fee payable|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Insurance contract provision|||
|Entrusted trading of securities|||
|Entrusted selling of securities|||
|Liabilities held for sales|||
|Non-current liability due in 1 year|1,406,746,076.00|1,433,644,523.00|
|Other current liability|86,746,979.00|1,723,070,000.00|
|Total of current liability|18,024,203,459.00|17,282,713,856.00|
|Non-current liabilities：|||
|Long-term loan|19,321,368,430.00|19,888,172,037.00|
|Bond payable|1,895,215,203.00|1,900,124,468.00|
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|1,767,860,027.00|1,917,552,654.00|
|Long-term payable employees’s|||
||128,355,760.00|122,832,249.00|
|remuneration|||
|Special payable|26,675,385.00|26,675,385.00|
|Expected liabilities|||
|Differed income|128,685,604.00|125,650,072.00|
|Differed income tax liability|24,821,712.00|37,718,277.00|
|Other non-current liabilities|6,000,000.00|39,000,000.00|
|Total non-current liabilities|23,298,982,121.00|24,057,725,142.00|
|Total of liability|41,323,185,580.00|41,340,438,998.00|
|Owners’ equity|||
|Share capital|5,250,283,986.00|5,250,283,986.00|
|Other equity instruments|||
|Including：preferred stock|||
|Sustainable debt|||
|Capital reserves|5,003,049,918.00|5,003,007,478.00|
|Less：Shares in stock|||
|Other comprehensive income|161,982,666.00|145,059,015.00|
|Special reserves|||
|Surplus reserves|7,590,363,724.00|6,845,001,818.00|
|Common risk provision|||
|Undistributed profit|5,098,846,028.00|6,135,494,928.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Total of owner’s equity belong to the|||
||23,104,526,322.00|23,378,847,225.00|
|parent company|||
|Minority shareholders’ equity|5,802,861,159.00|5,957,717,537.00|
|Total of owners’ equity|28,907,387,481.00|29,336,564,762.00|
|Total of liabilities and owners’ equity|70,230,573,061.00|70,677,003,760.00|

 Legal representative：Huang Zhenhai
Person-in-charge of the accountingwork：Li Xiaoqing
Person-in -charge of the accountingorgan：Meng Fei
2. Balance sheet of Parent Company
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Current asset：|||
|Monetary fund|671,110,947.00|326,073,538.00|
|Financial assets measured at fair value|||
|with variations accounted into current|||
|income account|||
|Derivative financial assets|||
|Bill receivable|||
|Account receivable|208,906,179.00|212,343,198.00|
|Prepayments|56,744,200.00|79,990,745.00|
|Interest receivable|1,118,668.00|723,819.00|
|Dividend receivable|||
|Other account receivable|20,671,598.00|122,933,749.00|
|Inventories|150,353,336.00|149,462,926.00|
|Assets held for sales|||
|Non-current asset due in 1 year|||
|Other current asset|26,804,664.00|25,650,427.00|
|Total of current assets|1,135,709,592.00|917,178,402.00|
|Non-current assets：|||
|Disposable financial asset|1,301,952,861.00|1,279,387,994.00|
|Expired investment in possess|||
|Long-term receivable|351,460,000.00|335,000,000.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Long term share equity investment|23,583,992,126.00|22,896,735,913.00|
|Property investment|8,614,438.00|8,932,237.00|
|Fixed assets|991,913,819.00|1,049,906,014.00|
|Construction in progress|99,611,372.00|43,039,781.00|
|Engineering material|||
|Fixed asset disposal|731,441.00||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|90,259,019.00|92,152,556.00|
|R & D petrol|||
|Goodwill|||
|Long-germ expenses to be amortized|||
|Differed income tax asset|1,185,875.00||
|Other non-current asset|356,004,000.00|672,504,000.00|
|Total of non-current assets|26,785,724,951.00|26,377,658,495.00|
|Total of assets|27,921,434,543.00|27,294,836,897.00|
|Current liabilities|||
|Short-term loans|1,900,000,000.00|300,000,000.00|
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial liabilities|||
|Bill payable|||
|Account payable|144,748,058.00|517,973,144.00|
|Advance payment|||
|Employees’ wage payable|33,066,300.00|31,813,417.00|
|Tax payable|1,490,432.00|9,688,606.00|
|Interest payable|19,890,064.00|48,091,022.00|
|Dividend payable|9,703,930.00|9,703,930.00|
|Other account payable|95,524,227.00|93,522,121.00|
|Liabilities held for sales|||
|Non-current liability due in 1 year|||
|Other current liability|30,352,587.00|1,216,583,014.00|
|Total of current liability|2,234,775,598.00|2,227,375,254.00|
|Non-current liabilities：|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Long-term loan|1,500,000,000.00|1,500,000,000.00|
|Bond payable|1,197,459,048.00|1,196,982,619.00|
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|||
|Employees’ wage payable|20,877,536.00|23,445,887.00|
|Special payable|||
|Expected liabilities|||
|Differed income|58,455,688.00|59,533,388.00|
|Differed income tax liability||12,508,093.00|
|Other non-current liabilities|||
|Total of Non-current liabilities|2,776,792,272.00|2,792,469,987.00|
|Total of liability|5,011,567,870.00|5,019,845,241.00|
|Owners’ equity|||
|Share capital|5,250,283,986.00|5,250,283,986.00|
|Other equity instrument|||
|Including：preferred stock|||
|Sustainable debt|||
|Capital reserves|5,605,794,603.00|5,605,752,163.00|
|Less：Shares in stock|||
|Other comprehensive income|161,982,666.00|145,059,015.00|
|Special reserves|||
|Surplus reserves|7,590,363,724.00|6,845,001,818.00|
|Undistributed profit|4,301,441,694.00|4,428,894,674.00|
|Total of owners’ equity|22,909,866,673.00|22,274,991,656.00|
|Total of liabilities and owners’ equity|27,921,434,543.00|27,294,836,897.00|

 3.Consolidated Income statement
In RMB
||||
|-|-|-|
|Item|Report period|Same period of the previous year|
|I. Income from the key business|12,385,486,577.00|10,234,989,566.00|
|Incl：Business income|12,385,486,577.00|10,234,989,566.00|
|Interest income|||
|Insurance fee earned|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Fee and commission received|||
|II. Total business cost|12,161,604,003.00|8,895,457,564.00|
|Incl：Business cost|11,126,689,991.00|7,767,910,229.00|
|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|108,518,658.00|76,108,043.00|
|Sales expense|2,788,458.00|736,468.00|
|Administrative expense|285,963,326.00|348,730,393.00|
|Financial expenses|637,643,570.00|701,972,431.00|
|Asset impairment loss|||
|Add：Gains from change of fir value|||
|（“-”for loss）|||
|Investment gain（“-”for loss）|227,542,910.00|128,721,534.00|
|Incl: investment gains from affiliates|225,418,910.00|126,201,534.00|
|Gains from currency exchange|||
|（“-”for loss）|||
|Other income|7,350,208.00||
|III. Operational profit（“-”for loss）|458,775,692.00|1,468,253,536.00|
|Add ：Non-operational income|3,203,012.00|10,609,711.00|
|Including：Income from disposal of|||
||1,268,222.00|130,677.00|
|non-current assets|||
|Less：Non business expenses|33,574,072.00|14,167,800.00|
|Incl：Loss from disposal of non-current|||
||655,630.00|170,836.00|
|assets|||
|IV.Total profit(“-”for loss)|428,404,632.00|1,464,695,447.00|
|Less：Income tax expenses|148,691,823.00|415,482,070.00|
|V. Net profit|279,712,809.00|1,049,213,377.00|
|Net profit attributable to the owners of|||
||128,735,725.00|738,374,784.00|
|parent company|||
|Minority shareholders’ equity|150,977,084.00|310,838,593.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|VI. Other comprehensive income|16,923,651.00|-107,948,192.00|
|Net of profit of other comprehensive inco|||
|me attributable to owners of the parent co|16,923,651.00|-107,948,192.00|
|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|16,923,651.00|-107,948,192.00|
|reclassified into profit or loss.|||
|1.Other comprehensive income under the|||
|equity method investee can be reclassifie||970,838.00|
|d into profit or loss.|||
|2.Gains and losses from changes in fair v|||
||16,923,651.00|-108,919,030.00|
|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|||
|7.Net of profit of other comprehensive in|||
|come attributable to Minority|||
|shareholders’ equity|||
|VII. Total comprehensive income|296,636,460.00|941,265,185.00|
|Total comprehensive income attributable|||
||145,659,376.00|630,426,592.00|
|to the owner of the parent company|||
|Total comprehensive income|||
||150,977,084.00|310,838,593.00|
|attributable minority shareholders|||
|VIII. Earnings per share|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|（I）Basic earnings per share|0.0245|0.14|
|(II)Diluted earnings per share|0.0245|0.14|

 The current business combination under common control, the net profits of the combined party before achieved ne t profit of RMB 0, last period the combined party realized RMB 0.
Legal representative：Huang Zhenhai
Person-in-charge of the accountingwork：Li Xiaoqing
Person-in -charge of the accountingorgan：Meng Fei
4. Income statement of the Parent Company
In RMB
||||
|-|-|-|
|Items|Report period|Same period of the previous year|
|I. Income from the key business|939,765,302.00|825,674,110.00|
|Incl：Business cost|887,126,339.00|630,368,054.00|
|Business tax and surcharge|4,342,801.00|7,994,515.00|
|Sales expense|4,589.00|9,300.00|
|Administrative expense|41,977,719.00|55,281,911.00|
|Financial expenses|98,104,367.00|112,026,865.00|
|Asset impairment loss|||
|Add：Gains from change of fir value|||
|（“-”for loss）|||
|Investment gain（“-”for loss）|1,110,477,171.00|1,853,145,315.00|
|Incl: investment gains from|||
||221,764,316.00|123,853,097.00|
|affiliates|||
|Other income|1,576,903.00||
|II. Operational profit（“-”for loss）|1,020,263,561.00|1,873,138,780.00|
|Add ：Non-operational income|280,853.00|1,795,373.00|
|Including：Income from disposal of|||
|non-current assets|||
|Less：Non business expenses|195,341.00|358,085.00|
|Incl：Loss from disposal of non-current|||
|assets|||
|III.Total profit(“-”for loss)|1,020,349,073.00|1,874,576,068.00|
|Less：Income tax expenses|-17,582,572.00|18,348,341.00|
|IV. Net profit（“-”for net loss）|1,037,931,645.00|1,856,227,727.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|V.Net of profit of other comprehensive i|||
||16,923,651.00|-107,948,192.00|
|ncome|||
|（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|16,923,651.00|-107,948,192.00|
|e reclassified into profit or loss.|||
|1.Other comprehensive income under th|||
|e equity method investee can be reclassi||970,838.00|
|fied into profit or loss.|||
|2.Gains and losses from changes in fair|||
||16,923,651.00|-108,919,030.00|
|value available for sale financial assets|||
|3.Held-to-maturity investments reclassif|||
|ied to gains and losses of available for s|||
|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|1,054,855,296.00|1,748,279,535.00|
|VII. Earnings per share：|||
|（I）Basic earnings per share|0.1980|0.35|
|(II)Diluted earnings per share|0.1980|0.35|

 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|14,454,635,418.00|11,993,341,095.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|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|1,968,626.00||
|Other cash received from business|||
||107,871,299.00|113,208,976.00|
|operation|||
|Sub-total of cash inflow|14,564,475,343.00|12,106,550,071.00|
|Cash paid for purchasing of|||
||11,194,266,293.00|5,231,263,343.00|
|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|||
|and commission|||
|Cash paid for policy dividend|||
|Cash paid to staffs or paid for staffs|701,259,423.00|784,293,113.00|
|Taxes paid|793,835,100.00|1,191,800,857.00|
|Other cash paid for business activities|296,189,243.00|202,692,576.00|
|Sub-total of cash outflow from business|||
||12,985,550,059.00|7,410,049,889.00|
|activities|||
|Cash flow generated by business|1,578,925,284.00|4,696,500,182.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|operation, net|||
|II.Cash flow generated by investing|||
|Cash received from investment|||
|retrieving|||
|Cash received as investment gains|120,542,102.00|150,472,644.00|
|Net cash retrieved from disposal of|||
|fixed assets, intangible assets, and other|1,073,872.00|1,601,233.00|
|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|||
||121,615,974.00|152,073,877.00|
|investment activities|||
|Cash paid for construction of|||
|fixed assets, intangible assets|1,292,607,275.00|1,525,254,338.00|
|and other long-term assets|||
|Cash paid as investment|157,125,694.00||
|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|||
||1,449,732,969.00|1,525,254,338.00|
|investment activities|||
|Net cash flow generated by investment|-1,328,116,995.00|-1,373,180,461.00|
|III.Cash flow generated by financing|||
|Cash received as investment|10,500,000.00|10,000,000.00|
|Incl: Cash received as investment from|||
||10,500,000.00|10,000,000.00|
|minor shareholders|||
|Cash received as loans|7,502,176,648.00|5,598,296,599.00|
|Cash received from bond placing|||
|Other financing –related ash received|42,440.00||
|Sub-total of cash inflow from financing|||
||7,512,719,088.00|5,608,296,599.00|
|activities|||
|Cash to repay debts|6,449,239,681.00|5,284,042,404.00|
|Cash paid as dividend, profit, or|||
||1,596,924,345.00|2,766,819,808.00|
|interests|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Incl: Dividend and profit paid by|||
||349,333,461.00|812,318,580.00|
|subsidiaries to minor shareholders|||
|Other cash paid for financing activities|5,493,800.00||
|Sub-total of cash outflow due to|||
||8,051,657,826.00|8,050,862,212.00|
|financing activities|||
|Net cash flow generated by financing|-538,938,738.00|-2,442,565,613.00|
|IV. Influence of exchange rate|||
|alternation on cash and cash equivalents|||
|V.Net increase of cash and cash|||
||-288,130,449.00|880,754,108.00|
|equivalents|||
|Add: balance of cash and cash|||
||5,184,873,650.00|5,227,406,725.00|
|equivalents at the beginning of term|||
|VI ..Balance of cash and cash|||
||4,896,743,201.00|6,108,160,833.00|
|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|||
||1,114,632,756.00|861,819,588.00|
|rending of services|||
|Tax returned|271,389.00||
|Other cash received from business|||
||10,413,502.00|13,015,892.00|
|operation|||
|Sub-total of cash inflow|1,125,317,647.00|874,835,480.00|
|Cash paid for purchasing of|||
||1,190,011,447.00|443,237,990.00|
|merchandise and services|||
|Cash paid to staffs or paid for staffs|145,782,543.00|156,782,737.00|
|Taxes paid|13,903,632.00|87,603,634.00|
|Other cash paid for business activities|21,655,404.00|24,097,584.00|
|Sub-total of cash outflow from business|||
||1,371,353,026.00|711,721,945.00|
|activities|||
|Cash flow generated by business|||
||-246,035,379.00|163,113,535.00|
|operation, net|||
|II.Cash flow generated by investing|||
|Cash received from investment|||
||100,000,000.00|300,000,000.00|
|retrieving|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Cash received as investment gains|1,001,942,001.00|1,896,415,452.00|
|Net cash retrieved from disposal of|||
|fixed assets, intangible assets, and other|||
|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|||
||1,101,942,001.00|2,196,415,452.00|
|investment activities|||
|Cash paid for construction of|||
|fixed assets, intangible assets|57,903,755.00|52,779,574.00|
|and other long-term assets|||
|Cash paid as investment|288,602,154.00|710,400,000.00|
|Net cash received from subsidiaries and|||
|other operational units|||
|Other cash paid for investment|||
|activities|||
|Sub-total of cash outflow due to|||
||346,505,909.00|763,179,574.00|
|investment activities|||
|Net cash flow generated by investment|755,436,092.00|1,433,235,878.00|
|III.Cash flow generated by financing|||
|Cash received as investment|||
|Cash received as loans|1,901,037,089.00|1,399,212,500.00|
|Cash received from bond placing|||
|Other financing –related ash received|42,440.00||
|Sub-total of cash inflow from|||
||1,901,079,529.00|1,399,212,500.00|
|financing activities|||
|Cash to repay debts|1,500,000,000.00|700,000,000.00|
|Cash paid as dividend, profit, or|||
||565,442,833.00|1,327,389,242.00|
|interests|||
|Other cash paid for financing activities||2,185,740.00|
|Sub-total of cash outflow due to|||
||2,065,442,833.00|2,029,574,982.00|
|financing activities|||
|Net cash flow generated by financing|-164,363,304.00|-630,362,482.00|
|IV. Influence of exchange rate|||
|alternation on cash and cash equivalents|||
|V.Net increase of cash and cash|345,037,409.00|965,986,931.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|equivalents|||
|Add: balance of cash and cash|||
||326,073,538.00|682,950,639.00|
|equivalents at the beginning of term|||
|VI ..Balance of cash and cash|||
||671,110,947.00|1,648,937,570.00|
|equivalents at the end of term|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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||||||||||||
|||||||||Speci||||||
|||instrusment||||Less:||||Comm||Minor||
|Items|||||||Other|alize|||||Total of owners’|
|||||||Share||||on risk||shareholders’||
||Share Capital|preferr|||Capital reserves||Comprehensive|d|Surplus reserves||Attributable profit||equity|
||||Sustain|Othe||s in||||provisi||equity||
|||ed|||||Income|reser||||||
||||able|r||stock||||on||||
|||stock||||||ve||||||
||||debt|||||||||||
|I.Balance at the end of||||||||||||||
||5,250,283,986.00||||5,003,007,478.00||145,059,015.00||6,845,001,818.00||6,135,494,928.00|5,957,717,537.00|29,336,564,762.00|
|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|5,250,283,986.00||||5,003,007,478.00||145,059,015.00||6,845,001,818.00||6,135,494,928.00|5,957,717,537.00|29,336,564,762.00|
|year||||||||||||||
|III.Changed in the||||||||||||||
||||||42,440.00||16,923,651.00||745,361,906.00||-1,036,648,900.00|-154,856,378.00|-429,177,281.00|
|current year||||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||
|-|-|-|-|-|-|-|
|（1）Total|||||||
|||16,923,651.00||128,735,725.00|150,977,083.00|296,636,459.00|
|comprehensive income|||||||
|（II）Investment or|||||||
|decreasing of capital by|42,440.00||||43,500,000.00|43,542,440.00|
|owners|||||||
|1．Ordinary Shares inve|||||||
||||||43,500,000.00|43,500,000.00|
|sted by hareholders|||||||
|2．Holders of other equi|||||||
|ty instruments invested c|||||||
|apital|||||||
|3．Amount of shares paid|||||||
|and accounted as|||||||
|owners’ equity|||||||
|4．Other|42,440.00|||||42,440.00|
|（III）Profit allotment|||745,361,906.00|-1,165,384,625.00|-349,333,461.00|-769,356,180.00|
|1.Providing of surplus|||||||
||||745,361,906.00|-745,361,906.00|||
|reserves|||||||
|2.Providing of common|||||||
|risk provisions|||||||
|3．Allotment to the|||||||
|||||-420,022,719.00|-349,333,461.00|-769,356,180.00|
|owners (or shareholders)|||||||
|4．Other|||||||
|(IV) Internal transferring|||||||
|of owners’ equity|||||||
|1. Capitalizing of capital|||||||
|reserves (or to capital|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||||
|-|-|-|-|-|-|-|-|
|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|||||||28,907,387,481.00|
||5,250,283,986.00|5,003,049,918.00|161,982,666.00|7,590,363,724.00|5,098,846,028.00|5,802,861,159.00||
|this term||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 Amount in last year
In RMB
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in last year|||||||||||||
||Owner’s equity Attributable to the Parent Company|||||||||||||
|||Other Equity||||||||||||
|||instrusment||||Less:||Specia||Comm||Minor||
|Items|||||||Other||||||Total of owners’|
|||||||Share||lized||on risk||shareholders’||
||Share Capital|preferr|||Capital reserves||Comprehensive||Surplus reserves||Attributable profit||equity|
||||Sustain|||s in||reserv||provisi||equity||
|||ed||Other|||Income|||||||
||||able|||stock||e||on||||
|||stock||||||||||||
||||debt|||||||||||
|I.Balance at the end of||||||||||||||
||5,250,283,986.00||||5,007,077,158.00||245,708,715.00||5,812,191,775.00||7,439,335,347.00|6,467,598,416.00|30,222,195,397.00|
|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|5,250,283,986.00||||5,007,077,158.00||245,708,715.00||5,812,191,775.00||7,439,335,347.00|6,467,598,416.00|30,222,195,397.00|
|year||||||||||||||
|III.Changed in the||||||||||||||
||||||669,456.00||-107,948,192.00||1,032,810,043.00||-1,502,000,575.00|-491,479,987.00|-1,067,949,255.00|
|current year||||||||||||||
|（1）Total|||||||-107,948,192.00||||738,374,784.00|310,838,593.00|941,265,185.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||
|-|-|-|-|-|-|
|comprehensive income||||||
|（II）Investment or||||||
|decreasing of capital by|669,456.00|||10,000,000.00|10,669,456.00|
|owners||||||
|1．Ordinary Shares inve||||||
|||||10,000,000.00|10,000,000.00|
|sted by hareholders||||||
|2．Holders of other equi||||||
|ty instruments invested c||||||
|apital||||||
|3．Allotment to the||||||
|owners (or shareholders)||||||
|4．Other|669,456.00||||669,456.00|
|(IV) Internal transferring||||||
|||1,032,810,043.00|-2,240,375,359.00|-812,318,580.00|-2,019,883,896.00|
|of owners’ equity||||||
|1. Capitalizing of capital||||||
|reserves (or to capital||1,032,810,043.00|-1,032,810,043.00|||
|shares)||||||
|2. Capitalizing of surplus||||||
|reserves (or to capital||||||
|shares)||||||
|3．Making up losses by||||||
||||-1,207,565,317.00|-812,318,580.00|-2,019,883,896.00|
|surplus reserves.||||||
|4. Other||||||
|(VI )Special reserves||||||
|1. Provided this year||||||
|2．Used this term||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||||
|-|-|-|-|-|-|-|-|
|（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||||||||
||5,250,283,986.00|5,007,746,614.00|137,760,523.00|6,845,001,818.00|5,937,334,772.00|5,976,118,429.00|29,154,246,142.00|
|this term||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 8.Statement of change inowner’s Equity of the Parent Company
Amount in this period
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in this period|||||||||||
|||Other Equity instrusment||||||||||
|||||||Less:|Other|||||
|Items||||||||Surplus|Common risk||Total of owners’|
||Share Capital|preferre|Sustain||Capital reserves|Shares|Comprehensive|||Attributable profit||
|||||Other||||reserves|provision||equity|
|||d stock|able|||in stock|Income|||||
||||debt|||||||||
|I.Balance at the end of||||||||||||
||5,250,283,986.00||||5,605,752,163.00||145,059,015.00||6,845,001,818.00|4,428,894,674.00|22,274,991,656.00|
|last year||||||||||||
|Add: Change of||||||||||||
|accounting policy||||||||||||
|Correcting of previous||||||||||||
|errors||||||||||||
|Other||||||||||||
|II.Balance at the||||||||||||
|beginning of current|5,250,283,986.00||||5,605,752,163.00||145,059,015.00||6,845,001,818.00|4,428,894,674.00|22,274,991,656.00|
|year||||||||||||
|III.Changed in the||||||||||||
||||||42,440.00||16,923,651.00||745,361,906.00|-127,452,980.00|634,875,017.00|
|current year||||||||||||
|（I）Total||||||||||||
||||||||16,923,651.00|||1,037,931,645.00|1,054,855,296.00|
|comprehensive income||||||||||||
|(II) Investment or|||||42,440.00||||||42,440.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|decreasing of capital by|||||
|owners|||||
|1．Ordinary Shares inv|||||
|ested by hareholders|||||
|2．Holders of other equ|||||
|ity instruments invested|||||
|capital|||||
|3.Amount of shares paid|||||
|and accounted as|||||
|owners’ equity|||||
|4．Other|42,440.00|||42,440.00|
|（III）Profit allotment||745,361,906.00|-1,165,384,625.00|-420,022,719.00|
|1.Providing of surplus|||||
|||745,361,906.00|-745,361,906.00||
|reserves|||||
|2．Allotment to the|||||
|owners (or|||-420,022,719.00|-420,022,719.00|
|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|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||
|-|-|-|-|-|-|-|
|surplus reserves.|||||||
|4. Other|||||||
|(V) Special reserves|||||||
|1. Provided this year|||||||
|2．Used this term|||||||
|（VI）Other|||||||
|IV. Balance at the end of||||||22,909,866,673.00|
||5,250,283,986.00|5,605,794,603.00|161,982,666.00|7,590,363,724.00|4,301,441,694.00||
|this term|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 Amount in last year
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in last year|||||||||||
|||Other Equity instrusment||||||||||
|||||||Less:|Other|||||
|Items||||||||Surplus|Common risk||Total of owners’|
||Share Capital|preferre|Sustain||Capital reserves|Shares|Comprehensive|||Attributable profit||
|||||Other||||reserves|provision||equity|
|||d stock|able|||in stock|Income|||||
||||debt|||||||||
|I.Balance at the end of||||||||||||
||5,250,283,986.00||||5,609,821,843.00||245,708,715.00||5,812,191,775.00|4,539,664,589.00|21,457,670,908.00|
|last year||||||||||||
|Add: Change of||||||||||||
|accounting policy||||||||||||
|Correcting of previous||||||||||||
|errors||||||||||||
|Other||||||||||||
|II.Balance at the||||||||||||
|beginning of current|5,250,283,986.00||||5,609,821,843.00||245,708,715.00||5,812,191,775.00|4,539,664,589.00|21,457,670,908.00|
|year||||||||||||
|III.Changed in the||||||||||||
||||||669,456.00||-107,948,192.00||1,032,810,043.00|-384,147,632.00|541,383,675.00|
|current year||||||||||||
|（I）Total||||||||||||
||||||||-107,948,192.00|||1,856,227,727.00|1,748,279,535.00|
|comprehensive income||||||||||||
|(II) Investment or||||||||||||
|decreasing of capital by|||||669,456.00||||||669,456.00|
|owners||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|1．Ordinary Shares inv|||||
|ested by hareholders|||||
|2．Holders of other equ|||||
|ity instruments invested|||||
|capital|||||
|3.Amount of shares paid|||||
|and accounted as|||||
|owners’ equity|||||
|4．Other|669,456.00|||669,456.00|
|（III）Profit allotment||1,032,810,043.00|-2,240,375,359.00|-1,207,565,316.00|
|1.Providing of surplus|||||
|||1,032,810,043.00|-1,032,810,043.00||
|reserves|||||
|2．Allotment to the|||||
||||-1,207,565,317.00|-1,207,565,317.00|
|owners (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|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||
|-|-|-|-|-|-|-|
|(V) Special reserves|||||||
|1. Provided this year|||||||
|2．Used this term|||||||
|（VI）Other|||||||
|IV. Balance at the end of|||||||
||5,250,283,986.00|5,610,491,299.00|137,760,523.00|6,845,001,818.00|4,155,516,957.00|21,999,054,583.00|
|this term|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017III．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”) and its ultimate holding 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 30 August 2017.. The Company and its subsidiaries (the “Group”) are principally engaged in the businesses of developing and operating electric power plants in Guangdong Province, the PRC.
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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 Specific accounting policies and accounting estimates tips:
During the financial statement preparation, theGroup’s management is required to utilize estimate and assumptions, which will have effects on the application of accounting policy and the amount of asset, debt, income and charge, where the actual situation may be different from the estimates. TheGroup’s management will do continuous assessments for the crucial assumptions the estimate involved and the judgement of uncertain factors. The influence of changes in accounting estimate will be confirmed in the current change period and the future period.
(a)Other Asset Impairments with the Exception of Inventory and Financial Asset
As 22 of Note 5 states, the Group makes impairment assessment for other asset impairments with the exception of inventory and financial asset on balance sheet date, which is to conform whether recoverable amount dropped to be less than its book value . If the situation shows that the book value of long-term asset may not be completely recovered, the relevant assets will be regarded as having been impaired, and the impairment loss will be confirmed accordingly.
When judging whether impairments exist in the assets above, the management should mainly make assessment and analysis by the following aspects:
(1)Whether matters which will influenced the asset impairment have occurred;
(2)Being continuously used or displaced, whether the expected available present value of cash flow is less than theasset’s book value; and
(3)Whether the repeated assumption is properly utilized for predicting the future present value of cash flow. If the relevant assumptions,adopted by the Group to confirm the impairment, have changes in discount rate and growth rate in the future cashflow’s present value approach, great influences may be generated in the present value utilized in the impairment test, and which will lead to an impairment in theGroup’s long-term asset above. (b)Service Life of Buildings and Equipments
The service life of buildings and equipments will depend on themanagement’s consideration for the asset durability and the situation after maintaining in accordance with the industry practice . When the annual year-end comes, examination and proper adjustment will be made for the predicted service life. The changes in the predicted service life of fixed asset may have a great effect on theGroup’s net profit.
(c)Income Tax
Whether to confirm the deferred income tax asset generated from the deductible loss and deductible temporary difference greatly depends on whether the management can obtain sufficient prospective taxable income which can be utilized to deduct the deductible loss and deductible temporary difference,nevertheless, to calculate the prospective taxable income requires plenty of judgement and assessment. Meanwhile, the influence of tax-planning strategy and the overall economic condition should be taken into account. Different judgement and assessment will influence the confirmation and amount of the deferred income tax.
(d)Deferred Income Tax
When estimating sufficient taxable income which can be utilized to deduct the deductible loss and deductible temporary difference can be obtained in the prospective period, the Group will count and confirm the relevant income tax asset in the limit of the taxable income which is likely to be utilized to deduct the deductible loss and deductible temporary difference and in the basis of the applicative income tax rate in the prospective period of recovering this asset.The Group needs to apply the judgement to assess the time and amount of the taxable income, and make reasonable assessment and judgement for the prospective applicative income tax rate
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 according to the current tax policy and other relevant policies to define the amount of deferred income tax which should be confirmed. If any difference exists between themanagement’s assessment and the time and amount of the actual net profit generated in the prospective period or the actual aaplicative income tax rate, which will influence the amount of deferred income tax asset.
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, 2017 as well as the business performance and cash flow situation in the first half of 2017 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, 2017 to 6 months ended June 3 0,2017.
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 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.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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:
(I) determining assets possessed solely and the jointly-possessed assets based on its share;
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 (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 and translation of financial statements denominated in foreign currencies When the Group receives capital in foreign currencies from investors, the capital is translated to Renminbi at the spot exchange rate at the date of the receipt. Other foreign currency transactions are, on initial recognition, translated to Renminbi at the spot exchange rates on the dates of the transactions.
Monetary items denominated in foreign currencies are translated to Renminbi at the spot exchange rate at the balance sheet date. The resulting exchange differences, except for those arising from the principal and interest of specific foreign currency borrowings for the purpose of acquisition and construction of qualifying assets (see Note v.18), are recognised in profit or loss. Non-monetary items denominated in foreign currencies that are measured at historical cost are translated to Renminbi using the foreign exchange rate at the transaction date.
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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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
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)
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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
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|
||The amount of the present value of the future cash flows|
|Measurement of impairment allowances for receivables of||
||expected to be derived from the receivable below its carrying|
|individual significance||
||amount.|

(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：
□ 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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. Classified to be the possessed assets 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 equitymethod.长
(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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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 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 years 5% 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
||The method for|Expected useful life|||
|Category|||Estimated residual value|Depreciation|
||depreciation|（Year）|||
||Straight-line method||||
|House and building||10-50 years|||
||||0% - 5%|1.80% - 10.00%|
||Straight-line method||||
|Generation equipment||5-31 years|||
||||0% - 5%|2.90%- 16.67%|
|Transportation|Straight-line method||||
|||5-10 years|||
|equipment|||0% -5%|9.00% - 20.00%|
||Straight-line method||||
|Other equipment||5-25 years|||
||||0% - 5%|3.60% - 20.00%|

(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.
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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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.
(b)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
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.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017（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 2017 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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, 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
A provision is recognised for an obligation related to a contingency if the Group has a present obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.
A provision is initially measured at the best estimate of the expenditure required to settle the related present obligation. Where the time value of money is material, provisions are stated at the discounted value of estimated future cash flow. Factors pertaining to a contingency such as the risks, uncertainties and time value of money are taken into account as a whole in reaching the best estimate. If there is a range for the required expenditure where all results within the range are equally probable, the best estimate will be the median value of the range; otherwise, the best estimate will be determined based on the following conditions:
- the best estimate will be the value with the highest probability if the contingency involves single item;
- the best estimate will be calculated based on the probability of each result if the contingency involves multiple items.
The carrying amounts of provisions are reviewed at each balance sheet date and adjusted based on the latest best estimates
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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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;
- 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.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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.
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.
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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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
The Group continually evaluates the critical accounting estimates and key judgments applied based on historical experience and other factors, including expectations of future events that are believed to be reasonable. The critical accounting estimates and key assumptions that have a significant risk of causing material adjustments to the carrying amounts of assets and liabilities within the next accounting year are outlined below:
(a) Impairment of assets other than inventories and financial assets
The Group tests for impairment for assets that have indication of impairment as at balance sheet date, including fixed assets, construction in progress, intangible assets with finite useful life, investment properties measured at cost, and long-term equity investment in subsidiaries, joint venture, and associates, etc.
When judging whether there is evidence of impairment in the above assets, management assesses and analyses the following: (1) whether any event that causes impairment has occurred; (2) whether the estimated available present value of cash flows from continual use or disposal of assets is lower than the carrying value of the asset; and (3) whether the assumptions used for the estimated present value of future cash flows are appropriate.
The Group adopted assumptions in determining whether assets are impaired. Any changes in the discounted rate and growth rate used in calculating the present value of future cash flows may significantly affect the present value used in the impairment test, resulting in the impairment of the above long-term assets.
(b) Useful lives of plants, buildings and equipment
The estimated useful lives of plants, buildings and equipment are determined by management after taking into account their durability and past maintenance records based on the industry practice. The estimated useful life of the assets is reviewed at each year-end with appropriate adjustments made accordingly. Any changes in the estimated useful life of fixed assets may have significant impact on theGroup’s net profits.
(c) Income tax
The decision whether to recognise deferred tax assets arising from deductible tax losses and deductible temporary differences depends largely onmanagement’s judgement as to whether sufficient future taxable profits will be available against which the assets can be utilised in the future periods. The calculation of future taxable profits involves much judgements and estimations, and is affected by theGroup’s tax planning strategy and overall economic environment. Different judgements and estimates will affect the recognition of deferred tax assets and their recognised amounts
(d) Deferred 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.
33.Change of main accounting policies and estimations
(1)Change of main accounting policies
□Applicable√Not applicable
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017（2）Change of main accounting estimations
√ Applicable□Not applicable
|||||
|-|-|-|-|
|Content and reasons for the accounting estimate change|Approval procedures|Application time|Remarks|
|In accordance with Accounting Standards for Business||||
||On May 31, 2017, the 1st session for|||
|Enterprises No. 4 – Fixed Assets and relevant company||||
||communication of the 8th Board of|||
|regulations, the company, based on the property and||||
||Directors of Guangdong Electric|||
|usage conditions of the current fixed assets, summarizes||||
||Power Development Co., Ltd.|||
|the predicted service life and net residual value of||June 1,2017||
||approved the Proposal on|||
|various fixed assets, and determines to adjust the||||
||Adjustment of the Depreciation Life|||
|depreciation life and the residual value ratio of partial||||
||and Residual Value Ratio of Partial|||
|fixed assets to make the same become reasonable and||||
||Fixed Assets through deliberation.|||
|the company financial information more objective.||||

The Group plans to change the predicted service life of fixed assets from June 1, 2017 with details below: Predicted service life at Predicted service life Notes
present after the proposed
adjustment
House and building 10– 50 years 10– 50 years (a)
Teneration equipment 6– 31 years 5– 31 years (b)
Transportion Equipment 5– 10 years 5– 10 years Remain unchanged
Other equipment 5– 25 years 5– 25 years (c)
(a) the predicted service life of the non-productive housing and buildings will change into 40 years from 22 years.
(b) the predicted service life of the partial wind power generating units equipment, water-turbine generator units equipment, power generation and heating equipment and the substation equipment will become into 8 years or 20 years respectively from 13 years or 16 years (or 18 years); the predicted service lift of the desulphurization and de-nitration equipment will change into 5 years or 10 years respectively from 13 years; the predicted service life of partial coal transportation equipment and terminal transportation equipment will change into 15 years from 8 years or 13 years.
(c) the predicted service life of other equipment (including the crane, hoist and the wagon balance) will change into 10 years from 8 years.
Zhanjiang Wind Power and Shibeishan Plan, as the company subsidiaries, adjusted the predicted net residual value ratio of fixed assets from10% into5% from June 1, 2017.
The accounting estimate change items adopt the prospective application subject to provisions of the accounting standards for business enterprises. The accounting estimate change reduces the fixed assets depreciation amount from June 1, 2017 to June 30, 2017 by about 56 million yuan and increases the net profits attributable to the parent company in the first half year of 2017 by about 33.23 million yuan.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 34.Other
VI.Taxation
1.Main categories and rates of taxes
||||
|-|-|-|
|Tax items|Tax basis|Tax rate|
|||3%，6%，13% and17% In accordance with Notice on Brief|
||Taxable value added amount (Tax||
|||Summarization of Relevant Polices for VAT Tax Rate (CS[2017]|
||payable is calculated using the||
|||No. 37) issued by Ministry of Finance and State Administration of|
||taxable sales amount multiplied||
|VAT||Taxation and relevant regulations, the applicable VAT rate on the|
||by the applicable tax rate less||
|||Group steam sales business is 11% and 13% respectively after and|
||deductible VAT input of current||
|||before July 1, 2017.|
||period)||
|City maintenance and|Amount of VAT, business tax and||
|||5%-7%|
|construction tax|consumption tax paid||
|Corporate income tax|Taxable income|0%，12.5% and 25%|
|Education surcharges|Based on VAT paid|3%|
|Local education surcharges|Based on VAT paid|2%|

In case there exist any taxpayer paying corporate income tax at different tax rates, disclose the information
|||
|-|-|
|Name of taxpayer|Income tax rates|
|Xuwen Wind Power|12.5%|
|Dianbai Wind power|0%|

2.Tax preferences
Pursuant to the approval documents (Caishui[2008] No.46 and Guo Shui Fa[2009] No.80), Xuwen Wind Power is exempted from paying corporate 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, the applicable corporate income tax rate for Xuwen Wind is12.5% in 2017 (2016:12.5%).
Pursuant to the approval documents (Cai Shui[2008] No.46 and Guo Shui Fa[2009] No.80), Dianbai Wind Power is exempt from paying corporate 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 Dianbai Wind Power posted profits for the first time in 2016, the applicable corporate income tax rate for Dianbai Wind is0% in 2017 (2016:0%).
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 and Huilai Wind Power Co., Ltd. (“Huilai Wind Power”) will be refunded
immediately in accordance with the Notice Concerning Value Added Tax Policies on Wind Power Generation
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 (Notice 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|72,714.00|49,457.00|
|Bank deposit|4,896,670,487.00|5,184,824,193.00|
|Total|4,896,743,201.00|5,184,873,650.00|

 Other notes
As of June 30,2017,Thecompany’s deposit in Yuedian Finance company is 4,074,004,815 yuan until June 30, 2017 (4,799,004,094 yuan before December 31, 2016).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|

（2）Note receivable pledged by the Company at the period -end
In RMB
|||
|-|-|
|Items|Amount|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017（3）Note receivable endorsed or discounted by the Company as at June 30.2017 but not expired on the balance sheet date
In RMB
||||
|-|-|-|
|||Amount underecognized ats at june|
|Items|Amount derecognized as at June 30,2017||
|||30,2017|

（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 bad|||
||Book balance||||Book|Book balance|||||
|Classification|||debts|||||debts||Book Value|
||||||Value||||||
|||Proportio||Proportio|||Proportio||Proportion||
||Amount||Amount|||Amount||Amount|||
|||n（%）||n（%）|||n（%）||（%）||
|Accounts receivable|||||||||||
|of individual|||||||||||
|significance and|2,798,27||||2,798,270|2,728,50||||2,728,506,3|
|||98.96%|||||98.29%||||
|subject to individual|0,069.00||||,069.00|6,320.00||||20.00|
|impairment|||||||||||
|assessment|||||||||||
|Accounts receivable|||||||||||
|of individual|||||||||||
|insignificance but|29,527,5||||29,527,52|47,555,5||||47,555,589.|
|||1.04%|||||1.71%||||
|subject ot individual|29.00||||9.00|89.00||||00|
|impairment|||||||||||
|assessment|||||||||||
||2,827,79||||2,827,797,598.00|2,776,06||||2,776,061,909.00|
|Total||100.00%|||||100.00%||||
||7,598.00|||||1,909.00|||||

 Receivable accounts with large amount individually and bad debt provisions were provided.
√Applicable□Not applicable
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|Content of account|End of term||||
|receivable（Unit）|Account receivable|Provision for bad debts|Proportion of provision|Reason for provision|
|||||Full amount recovery is|
|GPGC|2,590,871,955.00|0.00|0.00%||
|||||expected|
|Shenzhen Powe suply||||Full amount recovery is|
||179,681,651.00|0.00|0.00%||
|Bureau||||expected|
|GPGC,Zhanjiang Power||||Full amount recovery is|
||12,993,438.00|0.00|0.00%||
|suply Bureau||||expected|
|Guangdong Yudean|||||
|||||Full amount recovery is|
|Group Co., Ltd. Shajiao|8,409,298.00|0.00|0.00%||
|||||expected|
|C plant|||||
|Zhuhai Yuyufeng Steel||||Full amount recovery is|
||6,313,727.00|0.00|0.00%||
|Co., Ltd.||||expected|
|Total|2,798,270,069.00||--|--|

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
Not applicable
（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：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017（4）The ending balance of other receivable owed by the imputation of the top five parties
|||||
|-|-|-|-|
|Name|Amount in year-end|Bad debt provisionProportion%|Proportion%|
|Total|2,798,270,069.00|-||
|GPGC|2,590,871,955.00|-|91.62%|
|Shenzhen Powe supplyBureau|179,681,651.00|-|6.35%|
|GPGC Zhanjiang Powersupply Bureau|12,993,438.00|-|0.46%|
|Guangdong Yudean GroupCo., Ltd. Shajiao C plant|8,409,298.00|-|0.30%|
|Zhuhai Yueyufeng Steel Co.,Ltd.|6,313,727.00|-|0.22%|

(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：
6.Prepayments
（1）Age analysis
In RMB
||||||
|-|-|-|-|-|
||Year-end balance||Year-beginning balance||
|Aging|||||
||Amount|Proportion|Amount|Proportion|
|Within 1 year|899,305,888.00|98.23%|1,062,290,930.00|99.76%|
|1-2 years|14,625,715.00|1.60%|1,680,510.00|0.16%|
|2-3 years|1,096,045.00|0.12%|68,229.00|0.01%|
|Over 3 years|439,771.00|0.05%|782,453.00|0.07%|
|Total|915,467,419.00|--|1,064,822,122.00|--|

Notes of the reasons of the prepayment ages over 1 year with significant amount but failed settled intime:：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017（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||658,185,449.00|71.90%|According to theannual assessment ofrolling balance|
|Guangdong Shantui EngineeringMachinery Co., Ltd.|Non-related party||82,656,743.00|9.03%||
|Guangzhu Railway Co., Ltd. Gaolan PortStation income accounts|Non-related party||27,061,372.00|2.96%||
|Guangshen Railway Co., Ltd. GuangzouFreight Center|Non-related party||25,524,389.00|2.79%||
|Guangzhou Port Co., Ltd. Xiji PortBranch|Non-related party||13,744,927.00|1.50%||
|Total|--||807,172,880.00|88.17%|--|

 Othernotes：
7.Interest receivable
（1）Classification Interest receivable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in Year-beginning|
|Fixed deposit|20,790,253.00|16,681,118.00|
|Total|20,790,253.00|16,681,118.00|

（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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|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|||||
||Book Balance||Bad debt provision|||Book Balance||Bad debt provision|||
|Classification|||||Book||||||
|||Proportio||Proportion(%)|||Proportio||Proportion(|Book value|
||Amount||Amount||value|Amount||Amount|||
|||n(%)|||||n(%)||%)||
|Other accounts|||||||||||
|receivable of|||||||||||
|individual|||||||||||
||97,753,9||||97,753,91|85,142,||||85,142,409.|
|significance and||62.49%|0.00|0.00%|||60.85%||0.00%||
||12.00||||2.00|409.00||||00|
|subject to individual|||||||||||
|impairment|||||||||||
|assessment|||||||||||
|Other accounts||||10.95%|||||||
|receivable of|||||||||||
|individual|||||||||||
||58,668,8||6,423,69||52,245,18|54,781,||6,423,698||48,357,547.|
|insignificance but||37.51%|||||39.15%||11.73%||
||85.00||8.00||7.00|245.00||.00||00|
|subject to individual|||||||||||
|impairment|||||||||||
|assessment|||||||||||
||156,422,||6,423,69|4.11%|149,999,099.00|139,923||6,423,698||133,499,956.00|
|Total||100.00%|||||100.00%||4.59%||
||797.00||8.00|||,654.00||.00|||

 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|||||
||42,379,567.00|0.00|0.00%||
|Enviornmental Pretection|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|Co., Ltd.|||||
|Shaoguan Xinyi Power|||||
||21,175,948.00|0.00|0.00%||
|Industry Co., Ltd.|||||
|Huidong Finance Bureau|18,318,970.00|0.00|0.00%||
|Tongdao Yuexin Wind|||||
|Pwer Generation Co.,|10,000,000.00|0.00|0.00%||
|Ltd.|||||
|Huilai State Taxation|||||
||5,879,427.00|0.00|0.00%||
|Bureau|||||
|Total|97,753,912.00|0.00|--|--|

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
|||||||
|-|-|-|-|-|-|
||Nature||Book balance||Bad debt provision|
|Prepayments for construction||15,401,755||2,003,385||
|Income receivable from by product sales||6,914,336||2,803,641||
|Reserve funds||9,933,426||-||
|Other||26,419,368||1,616,672||
||Total||58,668,885||6,423,698|

（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|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017Notes：
(4) Other account receivables category by nature of money
In RMB
||||
|-|-|-|
|Naature|Ending book balance|Beginning book balance|
|Prepayments for construction|49,293,903.00|66,823,439.00|
|Reserve funds|9,933,426.00|24,005,804.00|
|Prepayments for construction|54,896,673.00|20,197,811.00|
|Government Grants|5,879,427.00|4,226,820.00|
|Pending investment|10,000,000.00|0.00|
|Other|26,419,368.00|24,669,780.00|
|Total|156,422,797.00|139,923,654.00|

（5）The ending balance of other receivables owed by the imputation of the top five parties
In RMB
|||||||
|-|-|-|-|-|-|
|||||Portion in total other|Bad debt provision|
|Name|Nature|Year-end balance|Age|||
|||||receivables(%)|of year-end balance|
|Guangdong Yudean||||||
|Environmental|Product sales|42,379,567.00|Within 1 year|27.10%||
|Protection Co., Ltd.||||||
|Shaoguan Xinyi||||||
||Prepayments for|||||
|Power Industry Co.,||21,175,948.00|Within 1 year|13.54%||
||construction|||||
|Ltd.||||||
|Huidong Finance|Land cushion|||||
|||18,318,970.00|Over 3 years|11.71%||
|Bureau|receivable|||||
|Tongdao Yuexin||||||
|Wind Pwer|Pending investment|10,000,000.00|Within 1 year|6.39%||
|Generation Co., Ltd.||||||
|Huilai State Taxation||||||
||VAT return|4,213,470.00|Within 1 year|2.69%||
|Bureau||||||
|Huilai State Taxation||||||
||VAT return|1,665,957.00|1-2 years|1.07%||
|Bureau||||||
|Total|--|97,753,912.00|--|62.49%||

(6) Account receivables with government subsidies involved
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|||||Estimated time, amount|
|Name|Project name|Amount in year-end|At the end of aging||
|||||and basis|
|Huilai State Taxation|||||
||VAT return|1,665,957.00|1-2 years||
|Bureau|||||
|Huilai State Taxation|||||
||VAT return|4,213,470.00|Within 1 year||
|Bureau|||||
|Total|--|5,879,427.00|--|--|

(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
（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|898,495,346.00||898,495,346.00|806,132,327.00|0.00|806,132,327.00|
|Parts|701,781,635.00|17,420,858.00|684,360,777.00|739,267,517.00|59,602,850.00|679,664,667.00|
|Other|79,253,042.00||79,253,042.00|27,356,247.00|0.00|27,356,247.00|
|Total|1,679,530,023.00|17,420,858.00|1,662,109,165.00|1,572,756,091.00|59,602,850.00|1,513,153,241.00|

 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|0.00||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||
|-|-|-|-|-|-|
|Parts|59,602,850.00|0.00|0.00|42,181,992.00|17,420,858.00|
|Total|59,602,850.00|||42,181,992.00|17,420,858.00|

 The company stock of the partial preparation for price fall was processed on June 30, 2017 and therefore the corresponding stock price fall preparation is written off.
(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
||||
|-|-|-|
||Year-end balance|Year-beginning balance|
|Items|||
|Advance Equipment fund|56,369,497.00|0.00|
|Total|56,369,497.00||

Othernotes：
13. Other current assets
In RMB
||||
|-|-|-|
||Year-end balance|Year-beginning balance|
|Items|||
|Deductible VAT|959,560,600.00|868,022,220.00|
|Prepayment of income tax|7,337,200.00|12,496,080.00|
|Other|443,728.00|1,537,291.00|
|Total|967,341,528.00|882,055,591.00|

 Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 14. Available-for-sale financial assets
(1) Available-for-sale financial assets
In RMB
||||||||
|-|-|-|-|-|-|-|
||Balance in year -end|||Amount at year beginning|||
||||||Provision||
|Items||Provision for|||||
||Book balance||Book value|Book balance|for|Book value|
|||impairment|||||
||||||impairment||
|Available-for-sale|||||||
||0.00|0.00|0.00|0.00|0.00|0.00|
|liabilities instruments|||||||
|Available-for-sale equity|||||||
||1,301,952,861.00|0.00|1,301,952,861.00|1,279,387,994.00|0.00|1,279,387,994.00|
|instruments|||||||
|According to the fair|||||||
||442,301,175.00|0.00|442,301,175.00|419,736,308.00|0.00|419,736,308.00|
|value measurement|||||||
|According to the Cost|||||||
||859,651,686.00|0.00|859,651,686.00|859,651,686.00|0.00|859,651,686.00|
|measurement|||||||
|Total|1,301,952,861.00||1,301,952,861.00|1,279,387,994.00||1,279,387,994.00|

 (2) Available-for-sale financial assets measured at fair value at period-end
In RMB
|||||
|-|-|-|-|
||Available-for-sale equityinstruments|Available-for-sale liabilities||
|Classification|||Total l|
|||instruments||
|Fair value|442,301,175.00||442,301,175.00|

（3）Available-for–sale financial assets measured at cost at the end of the year
In RMB
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Book balance|||Provision for impairment||||Percentag||
||||||||Endofterm|e of|Cash|
|||||Balan||||shareholdi|dividends|
|Investee||Increa|||Increa|Decre||||
||Balance of term|||ce of||||ng in|for the|
|||se|||se|ase||||
|||||term||||investees|year|
|||||||||%||
|ShenzhenChuangxin||||||||||
|Imvestment Group Co.,|115,000,000.00||115,000,000.00|||||3.67%||
|Ltd.||||||||||
|Sun Insurance|356,000,000.00||356,000,000.00|||||3.38%||
|South Sea Wind Electricity|70,000,000.00||70,000,000.00|||||10.00%||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Development Co., Ltd.||||
|Weixin Yuntou Yudean||||
||318,651,686.00|318,651,686.00|19.55%|
|Zaxi Enerty Co., Ltd.||||
|Total|859,651,686.00|859,651,686.00|--|

(4) Changes of the impairment of the available-for-sale financial assets during the reporting period
In RMB
|||||
|-|-|-|-|
||Available-for-sale|Available-for-sale||
|Type|||Total|
||Equity instruments|Debt 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
In RMB
||||||||
|-|-|-|-|-|-|-|
||||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
15. Held-to-maturity investment
(1) Held-to-maturity investment
In RMB
||||||||
|-|-|-|-|-|-|-|
||Year-end balance|||Year-beginning balance|||
|Items|||||||
|||Provision for|||Provision for||
||Book balance||Book value|Book balance||Book value|
|||impairment|||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 2017 16. Long-term account receivables
（1）Long-term account receivables
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
||End of term|||Beginning of term||||
|||Provision|||Provision forimpairment|||
|Items||for|||||Range of rate|
||Book balance||Book value|Book balance||Book value||
|||impairme||||||
|||nt||||||
|Financing Rent|82,687,240.00|0.00|82,687,240.00|136,075,412.00|0.00|136,075,412.00|4.93% - 7.30%|
|Total|82,687,240.00|0.00|82,687,240.00|136,075,412.00|0.00|136,075,412.00|--|

 (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 17. Long-term equity investment
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||Increase/decrease||||||||||
||||||||||||Closing|
||||||Adjustme|||||||
|||||||||Withdraw|||balance|
||||Decre|Gain/loss|nt of||Declarati|||||
||Opening|Add||||Other||n||Closing|of|
|Investees||||||||||||
||||ased|of|other||on of cash|||||
||balance|investme||||equity||impairme|Other|balance|impairme|
||||invest|Investme|comprehe||dividends|||||
|||nt||||changes||nt|||nt|
||||ment|nt|nsive||or profit|||||
|||||||||provision|||provision|
||||||income|||||||
|I. Joint ventures||||||||||||
|Industrial|584,241,360.0|||35,469,276.|||59,231,11|||560,479,5||
|Fuel|0|||00|||5.00|||21.00||
||584,241,360.0|||35,469,276.|||59,231,11|||560,479,5||
|Subtotal||||||||||||
||0|||00|||5.00|||21.00||
|II. Associates||||||||||||
|Shanxi||||||||||||
||998,393,392.0|||105,186,45|||8,000,000|||1,095,579||
|Yudean||||||||||||
||0|||0.00|||.00|||,842.00||
|Enerty||||||||||||
|Yudean|667,666,853.0|||46,164,422.|||42,295,03|||671,536,2||
|Finance|0|||00|||3.00|||42.00||
|Taishan||||||||||||
||1,970,490,827.|||45,012,246.||||||2,015,503||
|Power||||||||||||
||00|||00||||||,073.00||
|Generati||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||
|-|-|-|-|-|-|
|on||||||
|Yudean||||||
||935,332,553.0||5,930,929.0|2,188,557|939,074,9|
|Shippin||||||
||0||0|.00|25.00|
|g||||||
|West||||||
||200,011,582.0||-17,279,50||182,732,0|
|Investme||||||
||0||5.00||77.00|
|nt||||||
|Yangshan||||||
||||||6,411,959|
|Jiangken|5,991,055.00||420,904.00|||
||||||.00|
|g||||||
|Yangshan||||||
|||||933,933.0|8,090,098|
|Zhongxi|8,523,902.00||500,129.00|||
|||||0|.00|
|nkeng||||||
|Yudean||147,000,|||147,000,0|
|Captive||000.00|||00.00|
|Huaneng||||||
|Shantou|||3,654,595.0|5,410,000|60,230,82|
||61,986,226.00|||||
|Wind|||0|.00|1.00|
|Power||||||
||4,848,396,390.|147,000,|189,590,17|58,827,52|5,126,159|
|Subtotal||||||
||00|000.00|0.00|3.00|,037.00|
||5,432,637,750.|147,000,|225,059,44|118,058,6|5,686,638|
|Total||||||
||00|000.00|6.00|38.00|,558.00|

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|||||
||20,135,165.00|||20,135,165.00|
|period-beginning|||||
|2.Increase in the current|||||
|period|||||
|(1) Purchase|||||
|（ 2 ） Inventory\Fixed|||||
|assets\ Transferred from|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|construction in progress|||
|(3)Increased of|||
|Enterprise Combination|||
|3.Decreased amount of|||
|the period|||
|（1）Dispose|||
|（2）Other out|||
|4. Balance at period-end|20,135,165.00|20,135,165.00|
|II.Accumulated|||
|amortization|||
|1.Opening balance|11,202,928.00|11,202,928.00|
|2.Increased amount ofthe|||
||317,799.00|317,799.00|
|period|||
|(1) Withdrawal|317,799.00|317,799.00|
|3.Decreased amount of|||
|the period|||
|（1）Dispose|||
|（2）Other out|||
|4. Balance at|||
||11,520,727.00|11,520,727.00|
|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|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|4. Balance at period-end|||
|IV.Book value|||
|1.Book value at period||8,614,438.00|
||8,614,438.00||
|-end|||
|2.Book value at||8,932,237.00|
||8,932,237.00||
|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||||||
||17,122,935,233.00|54,742,668,249.00|612,243,075.00|1,160,457,302.00|73,638,303,859.00|
|period-beginning||||||
|2.Increase in the||||||
||27,520,170.00|291,197,722.00|43,984,396.00|12,654,703.00|375,356,991.00|
|current period||||||
|(1) Purchase|20,385,979.00|20,731,537.00|4,435,685.00|7,192,458.00|52,745,659.00|
|（2） Transferred fr||||||
||7,134,191.00|270,466,185.00|2,380,567.00|5,462,245.00|285,443,188.00|
|om construction in p||||||
|rogress||||||
|(3)Increased of||||||
|Enterprise||||||
|Combination||||||
|Other|||37,168,144.00||37,168,144.00|
|3.Decreased amount||||||
||436,933.00|119,244,275.00|3,845,108.00|2,391,153.00|125,917,469.00|
|of the period||||||
|（1）Disposal|436,933.00|82,076,131.00|3,845,108.00|2,391,153.00|88,749,325.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||
|-|-|-|-|-|-|
|Other||37,168,144.00|||37,168,144.00|
|4. Balance at||||||
||17,150,018,470.00|54,914,621,696.00|652,382,363.00|1,170,720,852.00|73,887,743,381.00|
|period-end||||||
|II. Accumulated||||||
|depreciation||||||
|1.Opening balance|5,644,005,857.00|23,660,669,651.00|425,757,766.00|776,998,641.00|30,507,431,915.00|
|2.Increased amount||||||
||468,864,427.00|1,364,066,142.00|29,192,401.00|33,533,722.00|1,895,656,692.00|
|of the period||||||
|(1) Withdrawal|468,864,427.00|1,364,066,142.00|29,192,401.00|33,533,722.00|1,895,656,692.00|
|Other||||||
|3.Decrease in the||||||
||144,174.00|33,035,891.00|3,022,938.00|1,694,974.00|37,897,977.00|
|reporting period||||||
|（1）Disposal|144,174.00|33,035,891.00|3,022,938.00|1,694,974.00|37,897,977.00|
|Other||||||
|4.Closing balance|6,112,726,110.00|24,991,699,902.00|451,927,229.00|808,837,389.00|32,365,190,630.00|
|III. Impairment||||||
|provision||||||
|1.Opening balance|129,030,264.00|1,180,825,371.00|2,322,621.00|4,008,167.00|1,316,186,423.00|
|2.Increase in the||||||
|reporting period||||||
|（1）Withdrawal||||||
|3.Decrease in||||||
|||17,664,510.00|||17,664,510.00|
|the reporting period||||||
|（1）Disposal||17,664,510.00|||17,664,510.00|
|4. Closing balance|129,030,264.00|1,163,160,861.00|2,322,621.00|4,008,167.00|1,298,521,913.00|
|IV. Book value||||||
|1.Book value of the||||||
||10,908,262,096.00|28,759,760,933.00|198,132,513.00|357,875,296.00|40,224,030,838.00|
|period-end||||||
|2.Book value of the||||||
||11,349,899,112.00|29,901,173,227.00|184,162,688.00|379,450,494.00|41,814,685,521.00|
|period-begin||||||

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

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 (3) Fixed assets rented by finance leases
In RMB
||||||
|-|-|-|-|-|
|||Accumulated|Accumulated||
|Items|Original book value|||Book value|
|||depreciation|depreciation||
|Jinghai financing leasing|||||
||1,600,000,000.00|942,083,333.00||657,916,667.00|
|assets|||||
|Zhongyue financing|||||
||900,000,000.00|303,003,507.00||596,996,493.00|
|leasing assets|||||
|Yuejiang financing|||||
||1,121,850,800.00|143,467,458.00||978,383,342.00|
|leasing assets|||||

(4) Fixed assets leased in the operating leases
In RMB
|||
|-|-|
|Items|End book value|
|House and Building|12,151,291.00|

 (5) Fixed assets without certificate of title completed
In RMB
||||
|-|-|-|
|Items|Book value|Reason|
|||Temporarily in the government approved|
|House and Building|118,406,472.00||
|||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|3,644,749,208.00||3,644,749,208.00|3,540,338,713.00||3,540,338,713.00|
|project|||||||
|Lincang Dayakou|||||||
|Hydropower|1,073,168,083.00||1,073,168,083.00|1,051,344,320.00||1,051,344,320.00|
|Station|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||
|-|-|-|-|-|-|-|
|Huizhou Natural|||||||
|Gas thermal and|||||||
|power|342,073,425.00||342,073,425.00|267,728,615.00||267,728,615.00|
|cogeneration|||||||
|expansion project|||||||
|Xuwen Shiban|||||||
|ling wind power|229,458,597.00||229,458,597.00|227,143,871.00||227,143,871.00|
|project|||||||
|Leizhou|||||||
|Hongxinlou wind|332,004,018.00||332,004,018.00|252,688,463.00||252,688,463.00|
|power projec|||||||
|Xuwen Qujie|||||||
|wind power|311,493,215.00||311,493,215.00|157,109,585.00||157,109,585.00|
|project|||||||
|Humen Electric|||||||
|2*1000MW|137,382,179.00|49,461,265.00|87,920,914.00|137,373,040.00|49,461,265.00|87,911,775.00|
|project|||||||
|Red Bay No.5&6|||||||
||26,446,446.00||26,446,446.00|26,360,597.00||26,360,597.00|
|generator units|||||||
|Other|||||||
|infrastructure|363,266,190.00|6,178,219.00|357,087,971.00|320,277,569.00|11,980,219.00|308,297,350.00|
|projects|||||||
|Technology|||||||
|improvement and|733,909,093.00|886,463.00|733,022,630.00|425,256,937.00|886,463.00|424,370,474.00|
|other projects|||||||
|Other|7,193,950,454.00|56,525,947.00|7,137,424,507.00|6,405,621,710.00|62,327,947.00|6,343,293,763.00|

 (2) Changes of significant construction in progress
In RMB
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||Amountat yearbeginning||||||||Including：|||
||||||||||Capitalis||||
|||||Transferr|||||ation of|Current|Capitalis||
||||Increase|||Balance|||||||
|||||ed to|Other||Proporti|Progress|interest|amount|ation of|Source|
|Name|Budget||at this|||in|||||||
|||||fixed|decrease||on(%)|of work|accumul|of|interest|of funds|
||||period|||year-end|||||||
|||||assets|||||ated|capitaliz r|atio（%)||
||||||||||balance|ation ofinterest|||
|Bohe||||||||||68,667,539.00||Borrowi|
||9,785,9|5 3,540,33|104,410,|||3,644,74|||260,188,||||
|||||0.00|0.00||37.24%|37.24%|||4.77%||
|Coal||||||||||||ng,|
||0,000.0|0 8,713.00|495.00|||9,208.00|||540.00||||
|integrati||||||||||||proprieta|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|on||||||||||||ry|
|project||||||||||||funding|
|Lincang||||||||||||Borrowi|
|Dayakou||||||||||||ng,|
||1,209,57|1,051,34|21,823,7|||1,073,16|||50,364,0|15,379,0|||
|Hydropo||||0.00|0.00||88.72%|88.72%|||4.34%|proprieta|
||8,400.00|4,320.00|63.00|||8,083.00|||38.00|17.00|||
|wer||||||||||||ry|
|Station||||||||||||funding|
|Huizhou|||||||||||||
|Natural|||||||||||||
|Gas|||||||||||||
|||||||||||||Borrowi|
|thermal|||||||||||||
|||||||||||||ng,|
|and|900,000,|267,728,|74,344,8|||342,073,|||7,046,60|5,419,05|||
|||||0.00|0.00||38.01%|38.01%|||4.00%|proprieta|
|power|000.00|615.00|10.00|||425.00|||1.00|8.00|||
|||||||||||||ry|
|cogenera|||||||||||||
|||||||||||||funding|
|tion|||||||||||||
|expansio|||||||||||||
|n project|||||||||||||
|Xuwen|||||||||||||
|||||||||||||Borrowi|
|Shiban|||||||||||||
|||||||||||||ng,|
|ling|460,639,|227,143,|12,642,3||10,327,6|229,458,|||3,973,93|2,113,03|||
|||||0.00|||49.81%|49.81%|||4.37%|proprieta|
|wind|300.00|871.00|91.00||65.00|597.00|||8.00|8.00|||
|||||||||||||ry|
|power|||||||||||||
|||||||||||||funding|
|project|||||||||||||
|Leizhou||||||||||||Borrowi|
|Hongxin||||||||||||ng,|
||462,920,|252,688,|79,315,5|||332,004,|||7,146,33|3,372,82|||
|lou wind||||0.00|0.00||71.72%|71.72%|||4.44%|proprieta|
||000.00|463.00|55.00|||018.00|||2.00|2.00|||
|power||||||||||||ry|
|projec||||||||||||funding|
|Xuwen||||||||||||Borrowi|
|Qujie||||||||||||ng,|
||466,450,|157,109,|154,383,|||311,493,|||4,784,89|2,911,83|||
|wind||||0.00|0.00||66.78%|66.78%|||4.37%|proprieta|
||000.00|585.00|630.00|||215.00|||0.00|9.00|||
|power||||||||||||ry|
|project||||||||||||funding|
|Humen|||||||||||||
|Electric|||||||||||||
||7,789,51|87,911,7||||87,920,9|||||||
|2*1000|||9,139.00|0.00|0.00||1.13%|1.13%|0.00|0.00|0.00%|Other|
||0,000.00|75.00||||14.00|||||||
|MW|||||||||||||
|project|||||||||||||
|Red Bay|||||||||||||
|No.5&6|7,714,37|26,360,5|85,849.0|||26,446,4|||||||
|||||0.00|0.00||0.34%|0.34%|0.00|0.00|0.00%|Other|
|generato|0,000.00|97.00|0|||46.00|||||||
|r units|||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Jinghai|||||||||||||
|1-4#gene|||||||||||||
|rators|||||||||||||
|ultra-low|||||||||||||
||558,000,|40,323,3|162,646,|||202,970,|||||||
|emission||||0.00|0.00||36.37%|36.37%|0.00|0.00|0.00%|Other|
||000.00|40.00|891.00|||231.00|||||||
|reductio|||||||||||||
|n|||||||||||||
|alteratio|||||||||||||
|n project|||||||||||||
|Other|||||||||||||
|||||||||Not|||||
|infrastru||267,974,|93,242,6|4,128,64||357,087,|||||||
||||||0.00|||applicabl|0.00|0.00|0.00%|Other|
|cture||010.00|07.00|5.00||971.00|||||||
|||||||||e|||||
|projects|||||||||||||
|Technolo|||||||||||||
|||||||||||||Borrowi|
|gy|||||||||||||
|||||||||Not||||ng,|
|improve||424,370,|306,628,|200,946,||530,052,|||||||
||||||0.00|||applicabl|0.00|0.00|0.00%|proprieta|
|ment and||474.00|820.00|895.00||399.00|||||||
|||||||||e||||ry|
|other|||||||||||||
|||||||||||||funding|
|projects|||||||||||||
||29,347,4||||||||||||
|||6,343,29|1,009,53|205,075,|10,327,6|7,137,42|||333,504,|97,863,3|||
|Other|17,700.0||||||--|--||||--|
|||3,763.00|3,950.00|540.00|65.00|4,507.00|||339.00|13.00|||
||0||||||||||||

（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 Material|1,477,958.00|1,496,854.00|
|Total|1,477,958.00|1,496,854.00|

 Othernotes：
22.Liquidation of fixed assets
In RMB
||||
|-|-|-|
|Items|End of term|Beginning of term|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Power Equipment parts scrapped due to tec|||
||2,569,759.00|1,060,031.00|
|hnical innovation|||
|Administrative supplies|23,169.00|0.00|
|House and Building|80,121.00|0.00|
|Transportation Equipment|156,626.00|16,157.00|
|Instrument and other|4,436,654.00|3,228,041.00|
|Total|7,266,329.00|4,304,229.00|

 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
25. Intangible assets
（1）Information
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||||||Electric|||
|||||||||transmissi|||
||||Non-patent||||Transporta||||
||Land use||||Franchise|Sea use||on project|||
|Items||Patent|Technolog|Software|||tion||Other|Total|
||right||||right|right||and|||
||||y||||project||||
|||||||||microwave|||
|||||||||project|||
|I. Original|||||||||||
|price|||||||||||
||1,812,946,|||97,267,317|13,720,736|129,906,54|22,468,672|442,517,68||2,519,584,|
|1.Opening|||||||||756,769.00||
||498.00|||.00|.00|4.00|.00|4.00||220.00|
|balance|||||||||||
|2.Increas|3,624,020.|||3,499,060.||||||7,123,080.|
|ed|00|||00||||||00|
|amount|||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||||
|-|-|-|-|-|-|-|-|-|
|ofthe|||||||||
|period|||||||||
|(1)|||||||||
||3,624,020.|3,499,060.||||||7,123,080.|
|Purchase|00|00||||||00|
|(2)Internal|||||||||
|Developm|||||||||
|ent|||||||||
|(3)Increase|||||||||
|d of|||||||||
|Enterprise|||||||||
|Combinati|||||||||
|on|||||||||
|3.Decrease|||||||||
|d amount|||||||||
|of the|||||||||
|period|||||||||
|（1）|||||||||
|Disposal|||||||||
|4. Balance|||||||||
||1,816,570,|100,766,37|13,720,736|129,906,54|22,468,672|442,517,68||2,526,707,|
|at|||||||756,769.00||
||518.00|7.00|.00|4.00|.00|4.00||300.00|
|period-end|||||||||
|II.Accumu|||||||||
|lated|||||||||
|amortizati|||||||||
|on|||||||||
|1. Balance|||||||||
|at|254,537,76|69,600,907|8,958,563.|17,864,908|21,447,068|405,126,13||777,883,02|
||||||||347,669.00||
|period-beg|7.00|.00|00|.00|.00|9.00||1.00|
|inning|||||||||
|2. Increase|||||||||
|in the|20,167,064|5,107,634.||1,309,746.||||27,092,745|
||||141,071.00|||335,000.00|32,230.00||
|current|.00|00||00||||.00|
|period|||||||||
|(1)|||||||||
||20,167,064|5,107,634.||1,309,746.||||27,092,745|
|Withdrawa|||141,071.00|||335,000.00|32,230.00||
||.00|00||00||||.00|
|l|||||||||
|3.Decrease|||||||||
|d amount|||||||||
|of the|||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||||
|-|-|-|-|-|-|-|-|-|
|period|||||||||
|（1）|||||||||
|Disposal|||||||||
|4. Balance|||||||||
||274,704,83|74,708,541|9,099,634.|19,174,654|21,447,068|405,461,13||804,975,76|
|at|||||||379,899.00||
||1.00|.00|00|.00|.00|9.00||6.00|
|period-end|||||||||
|III.|||||||||
|Impairmen|||||||||
|t provision|||||||||
|1. Balance|||||||||
|at|||||1,021,604.|33,189,374||34,210,978|
|period-beg|||||00|.00||.00|
|inning|||||||||
|2. Increase|||||||||
|in the|||||||||
|current|||||||||
|period|||||||||
|(1)|||||||||
|Withdrawa|||||||||
|l|||||||||
|3.Decrease|||||||||
|d amount|||||||||
|of the|||||||||
|period|||||||||
|（1）|||||||||
|Disposal|||||||||
|4. Balance|||||||||
||||||1,021,604.|33,189,374||34,210,978|
|at|||||||||
||||||00|.00||.00|
|period-end|||||||||
|4. Book|||||||||
|value|||||||||
|1.Book|||||||||
|value at|1,541,865,|26,057,836|4,621,102.|110,731,89||3,867,171.||1,687,520,|
||||||||376,870.00||
|period|687.00|.00|00|0.00||00||556.00|
|-end|||||||||
|2.Book|||||||||
|value at|1,558,408,|27,666,410|4,762,173.|112,041,63||4,202,171.||1,707,490,|
||||||||409,100.00||
|period-beg|731.00|.00|00|6.00||00||221.00|
|inning|||||||||

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 2017⑵Details of Land use right failed to accomplish certification of property
In RMB
||||
|-|-|-|
|Items|Book value|Reason|

Othernotes：
26. Development expenditure
In RMB
||||||
|-|-|-|-|-|
||Beginning|||Ending|
|Items||Increase in the period|Decrease in period||
||balance|||balance|

 Other notes
27. Goodwill
(1) Original book value of goodwill
In RMB
||||||
|-|-|-|-|-|
|Name of the|||||
|investees or the|||||
||Opening balance|Increase|Decrease|Closing balance|
|events formed|||||
|goodwill|||||
|Province Wind|||||
||2,449,886.00|||2,449,886.00|
|Power|||||
|Linchang Company|25,036,894.00|||25,036,894.00|
|Total|27,486,780.00|||27,486,780.00|

（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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||
|-|-|-|-|-|-|
||Balance in|Increase at this|Amortization|||
|Items||||Other decrease|Balance in year-end|
||year-begin|period|balance|||
|Leasehold||||||
||4,675,141.00||359,462.00||4,315,679.00|
|improvement||||||
|Long-term lease||||||
||21,371,959.00|2,954,754.00|1,014,083.00||23,312,630.00|
|charges||||||
|Other|8,564,612.00||1,680,000.00|4,608,439.00|2,276,173.00|
|Total|34,611,712.00|2,954,754.00|3,053,545.00|4,608,439.00|29,904,482.00|

 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|||||
||778,810,681.00|193,720,196.00|778,810,681.00|193,720,196.00|
|impairment|||||
|Deductible losses|352,676,457.00|88,169,113.00|112,722,870.00|28,180,717.00|
|Formation expense|3,089,245.00|386,156.00|3,089,245.00|386,156.00|
|Depreciation for fixed|||||
||43,497,328.00|10,874,332.00|77,011,308.00|19,252,827.00|
|assets|||||
|Depreciation for fixed|||||
||58,555,576.00|14,838,523.00|58,555,576.00|14,838,523.00|
|assets|||||
|Net income from testrun|||||
|included in construction|53,276,223.00|13,158,344.00|53,276,223.00|13,158,344.00|
|in progress|||||
|Government grant|59,235,416.00|14,808,854.00|63,727,865.00|15,931,966.00|
|Amortisation of land use|||||
||3,011,274.00|752,819.00|3,011,274.00|752,819.00|
|right|||||
|Intra-Group transactions|211,947,928.00|52,986,982.00|220,966,988.00|55,241,747.00|
|Total|1,564,100,128.00|389,695,319.00|1,371,172,030.00|341,463,295.00|

 (2)Details of the un-recognized deferred income tax liabilities
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
||Temporarily Deductable|Deferred Income Tax|Temporarily Deductable|Deferred Income Tax|
||or Taxable Difference|liabilities|or Taxable Difference|liabilities|
|Changes in fair value of|||||
||186,972,561.00|46,743,140.00|164,407,693.00|41,101,923.00|
|tradable financial assets|||||
|Net incme/expensess|||||
|included in the|6,353,869.00|1,588,467.00|42,114,651.00|10,528,662.00|
|Construction in project|||||
|Appreciation of|||||
||92,932,981.00|23,233,245.00|94,486,868.00|23,621,718.00|
|acquisition subsidiaries|||||
|Total|286,259,411.00|71,564,852.00|301,009,212.00|75,252,303.00|

 (3) Deferred income tax assets or liabilities listed by net amount after off-set
In RMB
||||||
|-|-|-|-|-|
||||Trade-off between the|Opening balance of|
||Trade-off between the|End balance of deferred|||
||||deferred income tax|deferred income tax|
|Items|deferred income tax|income tax assets or|||
||||assets and liabilities at|assets or liabilities after|
||assets and liabilities|liabilities after off-set|||
||||period-begin|off-set|
|Deferred income tax||342,952,179.00||303,929,269.00|
||-46,743,140.00||-37,534,026.00||
|assets|||||
|Deferred income||24,821,712.00||37,718,277.00|
||-46,743,140.00||-37,534,026.00||
|liabilities|||||

(4)Details of income tax assets not recognized
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Deductible temporary difference|847,667,796.00|913,316,296.00|
|Deductible loss|516,974,753.00|252,062,736.00|
|Total|1,364,642,549.00|1,165,379,032.00|

 (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|
|2017|67,060,276.00|67,060,276.00||
|2018|2,504,832.00|2,504,832.00||
|2019|7,350,102.00|7,350,102.00||
|2020|7,401,514.00|7,401,514.00||
|2021|167,746,012.00|167,746,012.00||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|2022|264,912,017.00|0.00||
|Total|516,974,753.00|252,062,736.00|--|

Othernotes：
The management believed that as at the maturity date for the above deductible losses, the relevant subject of tax payment does not have sufficient taxable income to deduct the above deductible losses, therefore did not realise deferred taxassets。
30 .Other non-current assets
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Prepayments for equipment fund|1,552,596,236.00|1,081,412,840.00|
|Prepayments for construction fund|268,530,528.00|542,965,106.00|
|Unrealised losses on sale and lease back|183,515,583.00|193,703,865.00|
|Prepayments for house purchase|130,460,612.00|150,799,140.00|
|Prepayments for land|47,400,921.00|39,765,321.00|
|Other|13,494,695.00|2,878,159.00|
|Total|2,195,998,575.00|2,011,524,431.00|

 Othernotes：
31.Short–term loans
（1）Short-term loans by category
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Credit loans|9,565,000,000.00|5,758,860,000.00|
|Total|9,565,000,000.00|5,758,860,000.00|

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：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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|100,000,000.00|1,088,100,837.00|
|Bank acceptance bills|631,452,959.00|242,380,000.00|
|Total|731,452,959.00|1,330,480,837.00|

 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|1,726,470,356.00|2,190,716,850.00|
|Construction and equipment payble|382,234,090.00|799,093,816.00|
|Management fee payable|88,888,582.00|89,461,265.00|
|Other|70,726,892.00|87,978,515.00|
|Total|2,268,319,920.00|3,167,250,446.00|

（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|11,753,524.00||
|||paid|
|Construction and equipment payble|27,905,224.00|Time arrangement for payable|
|Management fee payable|93,905,115.00|Time arrangement for payable|
|Other|12,879,654.00|Time arrangement for payable|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Total|146,443,517.00|--|

Othernotes：
36.Received in advance
（1）Received in advance
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Advance disposal of recyclable resources|194,798.00|162,884.00|
|Advances for grid payment|0.00|12,208,678.00|
|Other|5,000.00|84,798.00|
|Total|199,798.00|12,456,360.00|

 (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|125,994,004.00|641,099,501.00|570,944,483.00|196,149,022.00|
|II. Welfare afterlwaving|||||
|of position-fixed|0.00|93,920,335.00|93,920,335.00|0.00|
|provision scheme|||||
|III. Termination benefit|18,128,124.00|129,697,823.00|137,573,716.00|10,252,231.00|
|Total|144,122,128.00|864,717,659.00|802,438,534.00|206,401,253.00|

（2）Short-term remuneration
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|Items|Balance in year-begin|Increase in this period|Payable in this period|Balance in year-end|
|1.Wages, bonuses,|||||
||50,978.00|480,971,447.00|414,711,464.00|66,310,961.00|
|allowances and subsidies|||||
|2.Employee welfare|3,719,802.00|27,581,254.00|29,543,600.00|1,757,456.00|
|3. Social insurance|||||
||45,602,861.00|27,712,874.00|23,138,313.00|50,177,422.00|
|premiums|||||
|Including：Medical|||||
||45,602,861.00|23,931,193.00|19,356,632.00|50,177,422.00|
|insurance|||||
|Work injury insurance|0.00|1,589,272.00|1,589,272.00|0.00|
|Maternity insurance|0.00|1,323,237.00|1,323,237.00|0.00|
|Other|0.00|869,172.00|869,172.00|0.00|
|4. Public reserves for|||||
||0.00|63,660,089.00|63,660,089.00|0.00|
|housing|||||
|5.Union funds and staff|||||
||74,382,591.00|22,389,933.00|20,839,903.00|75,932,621.00|
|education fee|||||
|6.Short-term Absences|2,237,772.00|18,783,904.00|19,051,114.00|1,970,562.00|
|Total|125,994,004.00|641,099,501.00|570,944,483.00|196,149,022.00|

（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|||||
||0.00|68,989,618.00|68,989,618.00|0.00|
|insurance premiums|||||
|2.Unemployment|||||
||0.00|1,648,220.00|1,648,220.00|0.00|
|insurance|||||
|3. Annuity payment|0.00|23,282,497.00|23,282,497.00|0.00|
|Total|0.00|93,920,335.00|93,920,335.00|0.00|

 Othernotes：
38.Tax Payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|VAT|143,721,340.00|133,295,631.00|
|Enterprise Income tax|125,834,542.00|128,468,570.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Individual Income tax|4,027,250.00|33,222,950.00|
|City Construction tax|5,635,982.00|2,327,949.00|
|Land use tax|10,116,794.00|9,707,984.00|
|House property Tax|25,854,953.00|6,552,214.00|
|Discharge fees|2,682,310.00|3,456,932.00|
|Embankment fee payable|0.00|2,879,847.00|
|Education surcharges payable|5,231,105.00|1,954,625.00|
|Other|5,546,187.00|5,053,142.00|
|Total|328,650,463.00|326,919,844.00|

 Othernotes：
39. Interest payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Long-term loans interest of installment and|||
||71,457,908.00|27,938,770.00|
|interest charge|||
|Enterprise bond interest|30,898,477.00|44,398,814.00|
|Short term loan interest payable|13,537,009.00|10,807,042.00|
|Total|115,893,394.00|83,648,793.00|

 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|9,703,930.00|9,703,930.00|
|Total|9,703,930.00|9,703,930.00|

 Other explanation, including dividends payable with over one yearage and disclosure un-paymentreasons： 41.Other payable
（1）Disclosure by nature
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Performance guarantee deposits from|||
||525,298,717.00|369,890,625.00|
|construction|||
|Construction and equipment payable|2,426,569,055.00|2,587,231,394.00|
|Volume Purchase payable|4,223,654.00|4,000,000.00|
|Advance from shaoguan Electric Power|||
||8,284,884.00|19,936,021.00|
|plant|||
|State Oceanic Administration penalty|||
||172,144,350.00|172,000,000.00|
|payable|||
|Other|168,568,027.00|139,498,955.00|
|Total|3,305,088,687.00|3,292,556,995.00|

 (2) Other payables with large amount and aging of over one year
In RMB
||||
|-|-|-|
|Items|End of term|Reason|
|Performance guarantee deposits from|||
||149,360,956.00||
|construction|||
|Construction and equipment payable|1,033,204,570.00||
|Volume Purchase payable|4,000,000.00||
|Other|38,913,469.00||
|Total|1,225,478,995.00|--|

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|1,038,080,970.00|990,474,807.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Long-term Account payable due in 1 year|368,665,106.00|443,169,716.00|
|Total|1,406,746,076.00|1,433,644,523.00|

 Othernotes：
44.Other current liabilities
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Short-term financing notes payable||1,723,070,000.00|
|The reseller sales tax|86,746,979.00|0.00|
|Total|86,746,979.00|1,723,070,000.00|

 Changes in short-term debenturespayable：
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||Balan|
|||||||Issuan||Amortisa|||
||||||Balance at|||||ce at|
|||Issuan|Maturit|||ce||tion of|Repayme||
|||||Issuance|the||Interest at|||the|
|Name|Face value|ce|y|||during||siscounts|nt for the||
|||||amounts|beginning||face value|||end|
|||date|period|||the||or|period||
||||||of the year|||||of the|
|||||||year||premium|||
|||||||||||year|
|First batch of short-term|||||||||||
|financing bonds issued by|700,000,000|07/06/|270|700,000,0|711,565,6||3,448,219.||715,013,8||
|Guangdong Electric Power|.00|2016|days|00.00|44.00||00||63.00||
|Development Co., Ltd. of 2016|||||||||||
|Second batch of short-term|||||||||||
|financing bonds issued by|500,000,000|11/08/|270|500,000,0|505,017,3||4,453,699.||509,471,0||
|Guangdong Electric Power|.00|2016|days|00.00|69.00||00||68.00||
|Development Co., Ltd. of 2016|||||||||||
|First batch of short-term|||||||||||
|financing bonds issued by|||||||||||
||500,000,000|20/07/|270|500,000,0|506,486,9||4,128,082.||510,615,0||
|Guangdong Huizhou Pinghai|||||||||||
||.00|2016|days|00.00|86.00||00||68.00||
|Power Generation Co., Ltd.of|||||||||||
|2016|||||||||||
|||||1,700,000,|1,723,070,||12,030,00||1,735,099||
|Total|--|--|--||||||||
|||||000.00|000.00||0.00||,999.00||

 Othernotes：
45.Long-term borrowings
（1）Long-term term borrowings
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
||2,290,699,051.00|2,537,296,396.00|
|Pledged borrowings|||
||226,400,000.00|226,400,000.00|
|Mortgage borrowings|||
|Guarantee loan|1,616,000,000.00|1,716,667,500.00|
|Credit loans|15,188,269,379.00|15,407,808,141.00|
|Total|19,321,368,430.00|19,888,172,037.00|

 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|
|12 Yudean Bond|1,197,459,048.00|1,196,982,619.00|
|16 Pinghai01|697,756,155.00|703,141,849.00|
|Total|1,895,215,203.00|1,900,124,468.00|

（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|Pay in|||
|Name of|||Perio|Issue|Opening||||||Closing|
||Book value|Issue date||||current|interest at|discount|current|Other||
|the bond|||d|amount|balance||||||balance|
|||||||issue|par|amount|period|||
|12||||||||||||
||1,200,000,0||7|1,200,000|1,196,982||29,700,00|476,429.0|||1,197,459|
|Yudean||18/03/2013||||||||||
||00.00||years|,000.00|,619.00||0.00|0|||,048.00|
|Bond||||||||||||
|16|700,000,00||5|700,000,0|703,141,8||10,850,00|249,786.0||-5,635,48|697,756,1|
|||26/09/2016||||||||||
|Pinghai01|0.00||years|00.00|49.00||0.00|0||0.00|55.00|
|||||1,900,000|1,900,124||40,550,00|726,215.0||-5,635,48|1,895,215|
|Total|--|--|--|||||||||
|||||,000.00|,468.00||0.00|0||0.00|,203.00|

 (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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
|External|Balance in year-begin||Increase at this period||Decrease at this period||Balance in year-end||
|financial|||||||||
||Amount|Book value|Amount|Book value|Amount|Book value|Amount|Book value|
|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|1,677,860,027.00|1,827,552,654.00|
|Share repurchase payable|90,000,000.00|90,000,000.00|
|Total|1,767,860,027.00|1,917,552,654.00|

 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|90,974,031.00|82,486,341.00|
|III. Other Long-term benefits|37,381,729.00|40,345,908.00|
|Total|128,355,760.00|122,832,249.00|

 (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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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|
|Relocation and||||||
|construction of|1,715,385.00|0.00||1,715,385.00||
|windy power plant||||||
|Extension support||||||
||24,960,000.00|0.00||24,960,000.00||
|funds||||||
|Total|26,675,385.00|0.00||26,675,385.00|--|

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|125,650,072.00|5,100,763.00|2,065,231.00|128,685,604.00||
|Total|125,650,072.00|5,100,763.00|2,065,231.00|128,685,604.00|--|

Details of governmentsubsidies：
In RMB
||||||||
|-|-|-|-|-|-|-|
||||Amount||||
||Beginning of|New subsidy in|transferred to|||Asset-relatedorin|
|Items||||Other changes|End of term||
||term|current period|non-operational|||come-related|
||||income||||
|Shajiao A|||||||
|Zhenkou Pump|29,313,253.00||||29,313,253.00|Related to assets|
|house|||||||
|Energy saving|||||||
||23,736,827.00|4,640,000.00||148,750.00|28,228,077.00|Related to assets|
|funds|||||||
|Tax refund for|19,517,767.00||||19,517,767.00|Related to assets|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|PRC-produced|||||
|equipment|||||
|Development and|||||
|competitiveness|||||
||9,333,333.00||9,333,333.00|Related to assets|
|funds from|||||
|SASAC|||||
|Incentives for|||||
|energy efficiency|||||
||9,324,825.00||9,324,825.00|Related to assets|
|of power plant by|||||
|Dongguan city|||||
|5# generation set|||||
|of desulfurization|6,153,847.00|1,538,462.00|4,615,385.00|Related to assets|
|project|||||
|Expansion on|||||
|flow|||||
||4,149,062.00||4,149,062.00|Related to assets|
|reconstruction|||||
|project|||||
|Sha A – 2016|||||
|central finance|||||
||4,038,125.00||4,038,125.00|Related to assets|
|energy saving|||||
|fund|||||
|Refurbishment on|||||
||3,299,233.00||3,299,233.00|Related to assets|
|air preheater|||||
|Dianbai Reshui|||||
|wind power plant|3,000,000.00||3,000,000.00|Related to assets|
|project|||||
|Special prize|||||
|funds of recycle|||||
|economy and|2,953,988.00||2,953,988.00|Related to assets|
|energy saving by|||||
|Shenzhen city|||||
|Denitration|||||
||2,893,163.00||2,893,163.00|Related to assets|
|project|||||
|2016 Provincial|||||
|industry and|||||
|information|||||
|development|||||
||1,500,000.00||1,500,000.00|Related to assets|
|special fund for|||||
|technological|||||
|transformation of|||||
|enterprises|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||
|-|-|-|-|-|-|
|Special funds for||||||
|differential|1,318,000.00|||1,318,000.00|Related to assets|
|electricity price||||||
|Water-freshing||||||
||1,230,770.00|||1,230,770.00|Related to assets|
|project||||||
|Special prize||||||
|funds of recycle||||||
|economy and|1,125,999.00||378,019.00|747,980.00|Related to assets|
|energy saving by||||||
|Shaoguan city||||||
|Circulating water||||||
|pump special||||||
|fund for|1,000,000.00|||1,000,000.00|Related to assets|
|technological||||||
|renovation||||||
|1&2# Air||||||
|preheater energy|1,000,000.00|||1,000,000.00|Related to assets|
|saving project||||||
|Development||||||
|fund for Dayakou|400,000.00|||400,000.00|Related to assets|
|Project||||||
|Sha A – Return of||||||
||259,510.00|460,763.00||720,273.00|Related to income|
|port dues||||||
|Social security||||||
|treatment clearing||||||
|account relating|102,370.00|||102,370.00|Related to income|
|to firm’s stable||||||
|position subsidy||||||
|Total|125,650,072.00|5,100,763.00|2,065,231.00|128,685,604.00|--|

 Othernotes：
52.Other Non-current liabilities
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Cpaital injection|6,000,000.00|39,000,000.00|
|||0.00|
|Total|6,000,000.00|39,000,000.00|

Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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|4,445,477,866.00|||4,445,477,866.00|
|Estimate Increase|119,593,718.00|||119,593,718.00|
|Transfer from the|||||
|balance of capital surplus|||||
||20,474,592.00|||20,474,592.00|
|recognised under|||||
|previous accounting|||||
|Investment from Yudean|||||
||395,000,000.00|||395,000,000.00|
|Group|||||
|Enjoy the rights of associ|20,785,182.00|||20,785,182.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|ated enterprise base on share holding||||
|Other|1,676,120.00|42,440.00|1,718,560.00|
|Total|5,003,007,478.00|42,440.00|5,003,049,918.00|

 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
|||||||||
|-|-|-|-|-|-|-|-|
||Year-beginningbalance|Amount of current period||||||
||||Less ：|||||
|||||||After - ta||
||||Previously reco||After - tax attr|x attribut||
|||Amount for th||||||
|Items|||gnized in profit|Less：|ibutable to the|able to m|Year-end balance|
|||e period befor|or loss in other|||||
|||||Income tax|parent compa|inority sh||
|||e income tax|comprehensive|||||
||||||ny|areholder||
||||income|||||
|||||||s||
|2.Other comprehensive|145,059,015.00||||16,923,651.00|||
|income reclassifiable to||||||||
|||22,564,868.00||5,641,217.00|||161,982,666.00|
|profit or loss in||||||||
|subsequent periods||||||||
|Indluding：Share of other|21,753,244.00|||||||
|comprehensive income of||||||||
|the investee under the||||||||
||||||||21,753,244.00|
|equity method that w8ill||||||||
|be reclassified to profit or||||||||
|loss||||||||
|Gains or losses on|123,305,771.00||||16,923,651.00|||
|changes in fair value of||||||||
|||22,564,868.00||5,641,217.00|||140,229,422.00|
|available-for-sale||||||||
|financial assets||||||||
|Total|145,059,015.00|22,564,868.00||5,641,217.00|16,923,651.00||161,982,666.00|

 Other explanation, including the active part of the hedging gains/losses of cash flow transfer to initial
recognization adjustment fro the arbitrageditems：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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:
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|2,428,747,208.00|212,960,545.00||2,641,707,753.00|
|Optional surplus reserves|4,416,254,610.00|532,401,361.00||4,948,655,971.00|
|Total|6,845,001,818.00|745,361,906.00||7,590,363,724.00|

 Other explanation, including changes reasons forchanges：
Other explanation, including changes reasons forchanges：
In accordance with the PRC Company Law and theCompany’s Articles of Association, the Company should appropriate10% of net profit for the year to the statutory surplus reserve. The Company can cease appropriation when the statutory surplus reserve accumulates to more than50% of the registered capital. The appropriation from discretionary surplus reserve should be approved by the Board of Directors at the general meeting of shareholders. The surplus reserve can be used to cover the loss or increase the share capital upon approval.
According to the resolution at the general meeting of shareholders on 17 May 2017, the Company appropriated10% of net profit for 2016, amounted to RMB212,960,545, (2016:10% of net profit for 2015, amounted to RMB 295,088,584) to the statutory surplus reserve, and appropriate25% of net profit for 2016, amounted to RMB532,401,361, to discretionary surplus reserve(2016:25% of net profit for 2015, amounted to RMB737,721,459).
60. Retained profits
In RMB
||||
|-|-|-|
|Items|Amount of this period|Amount of last period|
|Before adjustments: Retained profits at the periodend|||
||6,135,494,928.00|7,439,335,347.00|
|After adjustments: Retained profits at the periodbeginning|6,135,494,928.00||
|||7,439,335,347.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Add: Net profit attributable to owners of theCompany for the period|||
||128,735,725.00|936,534,941.00|
|Less: Appropriation to statutory surplus reserve|212,960,545.00|295,088,584.00|
|Drawing discretionary surplus reserve|532,401,361.00|737,721,459.00|
|DrawingCommon risk provision|420,022,719.00|1,207,565,317.00|
|Retained profits at the period end|5,098,846,028.00|6,135,494,928.00|

 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|12,301,242,987.00|11,116,293,804.00|10,169,505,901.00|7,754,418,633.00|
|Other business|84,243,590.00|10,396,187.00|65,483,665.00|13,491,596.00|
|Total|12,385,486,577.00|11,126,689,991.00|10,234,989,566.00|7,767,910,229.00|

 62. Business tax and subjoin
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Urban construction tax|33,337,926.00|40,671,220.00|
|Education surcharge|22,968,052.00|33,640,249.00|
|Property tax|28,969,819.00|0.00|
|Land use tax|11,746,353.00|0.00|
|vehicle and vessel usage tax|139,338.00|0.00|
|Stamp tax|6,935,121.00|0.00|
|Local Educational Surcharges|4,211,962.00|0.00|
|Other|210,087.00|1,796,574.00|
|Total|108,518,658.00|76,108,043.00|

Other notes:
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 63.Sales expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Business expense|593,379.00|279,213.00|
|Employee’s remuneration|1,854,626.00|450,769.00|
|Publicity Expenses|16,136.00|4,393.00|
|Depreciation expenses|2,093.00|2,093.00|
|Advertising|68,154.00|0.00|
|Other|254,070.00|0.00|
|Total|2,788,458.00|736,468.00|

 Other notes:
64.Administrative expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Employee’s remuneration|145,944,344.00|147,466,219.00|
|Depreciation expenses|23,689,115.00|23,457,108.00|
|Repair charge|2,334,351.00|10,086,337.00|
|Office expenses|4,765,055.00|4,771,214.00|
|Insurance expenses|1,287,175.00|1,453,645.00|
|Travel expenses|2,717,016.00|2,715,825.00|
|Board of directors|335,076.00|460,554.00|
|Entertainment expenses|1,635,200.00|1,834,873.00|
|Lowsuit expenses|502,783.00|467,223.00|
|Amortiation of Intangible assets|26,453,221.00|24,511,460.00|
|Sewage charges|10,527,064.00|13,990,188.00|
|Consulting fee|1,662,697.00|1,848,638.00|
|Agency Charge|3,701,672.00|3,553,830.00|
|Tax fee|13,453.00|46,610,078.00|
|Property Management|10,341,583.00|6,832,089.00|
|Fire guard fee|16,957,562.00|18,244,479.00|
|Embankment protection fees|0.00|5,193,707.00|
|Health afforestation fees|5,628,871.00|6,616,228.00|
|Other|27,467,088.00|28,616,698.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Total|285,963,326.00|348,730,393.00|

 Othernotes：
65.Financial Expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Interest expenses|||
||668,634,978.00|727,776,774.00|
|Interest income|||
||-32,830,879.00|-33,067,804.00|
|Other|1,839,471.00|7,263,461.00|
|Total|637,643,570.00|701,972,431.00|

 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|||
||225,418,910.00|126,201,534.00|
|method|||
|Hold the investment income during from|||
||2,124,000.00|2,520,000.00|
|available-for-sale financial assets|||
|Total|227,542,910.00|128,721,534.00|

Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 69.Other income
In RMB
||||
|-|-|-|
|Source|Amount of current period|Amount of previous period|
|Amortisation of government grant|2,065,231.00|0.00|
|VAT refund|5,092,977.00|0.00|
|Other|192,000.00|0.00|
|Total|7,350,208.00|0.00|

 70. 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|
|Total gains from disposal of|1,268,222.00|130,677.00||
||||1,268,222.00|
|non-current assets||||
|Including：Gains from disposal||||
||1,268,222.00|130,677.00|1,268,222.00|
|of fixed assets||||
|Government Subsidy||8,896,831.00||
|Insurance indemnity|557,310.00|477,753.00|557,310.00|
|Other|1,096,627.00|1,104,450.00|1,096,627.00|
|Total|3,203,012.00|10,609,711.00|3,203,012.00|

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

Othernotes：
71．Non-current expenses
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
||Amount of current period|Amount of previous period|The amount of non-operating|
|Items||||
||||gains & lossed|
|Total of non-current asset|655,630.00|170,836.00||
||||655,630.00|
|Disposition loss||||
|Incl: loss of fixed assets||||
||655,630.00|170,836.00|655,630.00|
|disposition||||
|Foreign donations|60,000.00|137,791.00|60,000.00|
|Fine for delaying payment|32,317,140.00|1,995,891.00|32,172,789.78|
|Other|541,302.00|205,312.00|541,302.00|
|Total|33,574,072.00|14,167,800.00|33,574,072.00|

 Othernotes：
72. Income tax expenses
（1）．Income tax expenses
In RMB
||||
|-|-|-|
||Amount of current period|Amount of previous period|
|Items|||
|Current income tax expense|201,520,623.00|360,216,189.00|
|Deferred income tax expense|-57,560,692.00|-9,523,720.00|
|Settlement difference adjustment|4,731,892.00|64,789,601.00|
|Total|148,691,823.00|415,482,070.00|

（2）Adjustment on accounting profit and income tax expenses
In RMB
|||
|-|-|
|Items|Amount of current period|
|Total profits|428,404,632.00|
|Income tax expenses calculated on legal / applicable tax rate|107,101,158.00|
|Impact of different tax rates of subsidiaries|-6,270,781.00|
|Effect of tax preferential from subsidiaries|4,731,892.00|
|Non-taxable income|-48,061,202.00|
|Cost, expense, and loss not deductible for tax purposes|24,956,314.00|
|Deductible losses of unrecognized deferred tax assets in current||
||0.00|
|period||
|Temporary difference on unrecognized deferred tax assets in||
||66,234,442.00|
|current period||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||
|-|-|
|Income tax expense|148,691,823.00|

 Othernotes：
73 .Other comprehensive income
More details can be seen in Note 57.
74.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|32,593,073.00|29,012,531.00|
|Government Subsidy|7,182,767.00|36,308,663.00|
|Insurance indemnity|8,879,625.00|24,365,929.00|
|Rent income|3,011,552.00|5,037,423.00|
|Other|56,204,282.00|18,484,430.00|
|Total|107,871,299.00|113,208,976.00|

 Explanation on other cash received in relateion to perationactivities：
(2)Other cash paid related to oprating activities
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Sewage charges|9,416,665.00|10,425,276.82|
|Insurance expenses|50,406,954.00|50,340,310.06|
|Equipment cleaning and hygiene green fee|19,328,512.00|19,043,218.01|
|Transportation fee|13,833,959.00|11,982,439.35|
|Fire guard fee|16,074,970.00|18,244,478.83|
|Business fee|1,802,406.00|1,834,873.29|
|Agency Charge|5,007,819.00|5,402,468.61|
|Embankment protection fees|0.00|5,193,707.46|
|Office Expense|4,589,452.00|6,669,309.63|
|Travel expenses|4,115,623.00|4,529,068.81|
|Rental fee|6,470,575.00|6,359,971.79|
|Enterprise publicity expenses|1,380,424.00|1,556,472.89|
|Information system maintenance|3,020,926.00|2,703,512.64|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Water and electrical|9,807,005.00|4,485,490.28|
|R&D|2,872,231.00|3,070,961.84|
|Property Management fee|9,809,876.00|6,832,088.59|
|Union expenses|5,527,990.00|13,742,248.49|
|Other|132,723,856.00|30,276,678.61|
|Total|296,189,243.00|202,692,576.00|

 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|42,440.00||
|Total|42,440.00||

Explanation on other cash received in relation to financingactivities：
（6）Cash paid related with financing activities
IIn RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Yuejia Compan paid the minority|||
||5,493,800.00||
|shareholders capital|||
|Total|5,493,800.00||

Explanation on cash paid related with financingactivities：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 75. 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|279,712,809.00|1,049,213,377.00|
|Depreciation of fixed assets, oil and gas|||
||1,893,466,852.00|1,967,464,053.00|
|assets and consumable biological assets|||
||27,092,745.00|24,511,460.00|
|Amortization of intangible assets|||
|Amortization of Long-term deferred|||
||3,053,545.00|1,422,220.00|
|expenses|||
|Loss on disposal of fixed assets, intangible|||
||-612,592.00|40,159.00|
|assets and other long-term deferred assets|||
|Financial cost|687,249,045.00|727,776,774.00|
|Loss on investment|-227,542,910.00|-128,721,534.00|
|Decrease in deferred income tax assets|-39,022,910.00|-9,135,247.00|
|Increased of deferred income tax liabilities|-12,896,565.00|-388,473.00|
|Decrease of inventories|-148,955,924.00|-125,401,984.00|
||-6,141,117.00|90,976,269.00|
|Decease of operating receivables|||
|Increased of operating Payable|-876,477,694.00|1,098,743,108.00|
|Net cash flows arising from operating|1,578,925,284.00|4,696,500,182.00|
|activities|||
|II. Significant investment and financing|||
||--|--|
|activities that without cash flows:|||
|III．Movement of cash and cash equivalents：|--|--|
|Ending balance of cash equivalents|4,896,743,201.00|6,108,160,833.00|
|Less: Beginning balance of cash equivalents|5,184,873,650.00|5,227,406,725.00|
|Net increase of cash and cash equivalents|-288,130,449.00|880,754,108.00|

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

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||
|-|-|
|Including|--|

Othernotes：
(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|4,896,743,201.00|5,184,873,650.00|
|Including：Cash at hand|||
||72,714.00|49,457.00|
|Demand bank deposit|4,896,670,487.00|5,184,824,193.00|
|III. Balance of cash and cash equivalents at|4,896,743,201.00|5,184,873,650.00|
|the period end|||

76. 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.: 77. The assets with the ownership or use right restricted
In RMB
||||
|-|-|-|
|Items|Closing book value|Causation of limitation|
|Fixed assets|730,628,356.00|Long-term loans mortgage assets|
|||Unit construction financing Electricity bill|
|Account receivable|121,354,261.00||
|||pledge the transferor|
|Total|851,982,617.00|--|

Othernotes：
78. 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|--|--|12,465.00|
|Including：USD|190.00|6.77|1,286.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Euro|0.00|0||
|HKD|12,881.00|0.87|11,179.00|
|Long –term loans|--|--|93,279,865.00|
|Including：USD|12,362,014.00|6.77|83,690,835.00|
|Euro|1,237,358.00|7.75|9,589,030.00|

 Othernotes：
(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
79. Hedging
Disclose hedging items by type of hedging as well as relevant arbitrage tool, qualitative and quantitative information for arbitrage project:
80.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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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
||||||||||
|-|-|-|-|-|-|-|-|-|
||||||Income from|Net profits|||
||||||the|from the|||
|||||Recognition|||Income|Net profits|
||||||period-begin|reporting|||
|Combined|Proportion of||Combination|basis of|||during the|during the|
|||Basis|||to the|period to the|||
|party|the profits||date|combination|||period of|period of|
||||||combination|combination|||
|||||date|||comparison|compairsion|
||||||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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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:
6.Other
IX. Equity in other entity
1. Equity in subsidiary
（1）Constitute of enterprise group
||||||||
|-|-|-|-|-|-|-|
||Main|Registered|Business|Share-holding ratio|||
|Subsidiary||||||Acquired way|
||operation|place|nature|Directly|Indirectly||
||||Electric||||
|Maoming Zhenneng|Maoming|Maoming||66.61%||Establish|
|Jianghai Power|Jieyang|Jieyang|Electric|65.00%||Establish|
||||Electric||||
|Zhangjiang Wind Power|Zhanjiang|Zhangjiang||70.00%||Establish|
|Anxin Electric Power Maintenance|Dongguan|Dongguan|Electric|100.00%||Establish|
|Humen Power|Dongguan|Dongguan|Electric|60.00%||Establish|
||||Electric||||
|Bohe Electric Power|Maoming|Maoming||100.00%||Establish|
|||||||Combination|
|Yuheng Electronic|Zhanjiang|Zhanjiang|Electric||76.00%|under common|
|||||||control|
||||Electric||||
|Xuwen Wind Power|Zhangjiang|Zhanjiang|||70.00%|Establish|
|Huadu Natural gas|Guangzhou|Guangzhou|Electric|65.00%||Establish|
||||Electric||||
|Dapu Power|Meizhou|Meizhou||100.00%||Establish|
|Leizhou Wind Power|Leizhou|Leizhou|Electric|80.00%|14.00%|Establish|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||
|-|-|-|-|-|-|-|
||||Electric||||
|Dianbai Wind Power|Maoming|Maoming|||100.00%|Establish|
|||||||Combination|
|Zhanjiang Power|Zhangjiang|Zhangjiang|Electric|76.00%||under common|
|||||||control|
|||||||Combination|
||||Electric||||
|Yuejia Power|Meizhou|Meizhou||58.00%||under common|
|||||||control|
|||||||Combination|
|Yuejiang Power|Shaoguan|Shaoguan|Electric|90.00%||under common|
|||||||control|
|||||||Combination|
||||Electric||||
|Zhongyue Energy|Zhanjiang|Zhanjiang||90.00%||under common|
|||||||control|
|Electric sales|Guangzhou|Guangzhou|Electric|100.00%||Establish|
||||Electric||||
|Qujie Wind Power|Zhanjiang|Zhanjiang||100.00%||Establish|
|Yangjiang Wind Power|Yangjiang|Yangjiang|Electric||100.00%|Establish|
|||||||Combination|
||||Electric|||under non|
|Lincang Energy|Lincang|Lincang||100.00%|||
|||||||common|
|||||||control|
|||||||Combination|
|Guangqian Electric Power|Shenzhen|Shenzhen|Electric|100.00%||under common|
|||||||control|
|||||||Combination|
||||Electric||||
|Huizhou Natural gas|Huizhou|Huizhou||67.00%||under common|
|||||||control|
|||||||Combination|
||||Electric||||
|Pinghai Power Plant|Huizhou|Huizhou||45.00%||under common|
|||||||control|
|||||||Combination|
|Shibeishan Wind Power|Jieyang|Jieyang|Electric||70.00%|under common|
|||||||control|
|||||||Combination|
||||Electric||||
|Red Bay Power|Shanwei|Shanwei||65.00%||under common|
|||||||control|
|||||||Combination|
|Guangdong Wind Power|Guangzhou|Guangzhou|Electric|100.00%|||
|||||||under non|
|||||||common|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||
|-|-|-|-|-|-|-|
|||||||control|
|Pingyuan Wind power|Meizhou|Meizhou|Electric||100.00%|Establish|
||||Electric||||
|Heping Wind power|Heyuan|Heyuan|||100.00%|Establish|
|||||||Combination|
||||Electric||||
|Huilai Wind Power|Jieyang|Jieyang|||70.00%|under common|
|||||||control|
||||Electric||||
|Hongrui Technology|Shaoguan|Shaoguan|||90.00%|Establish|
||||Electric||||
|Yongan Natural gas|Zhaoqing|Zhaoqing||90.00%||Establish|

 Explanation on share-holding ratio in subsidiary different from ratio of votingright：
The voting rights proportion of the Company over its subsidiary: 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：
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.
Controlling basis for the structuring entity included in consolidatedrange：
Basis on determinning to be a agent orconsignor：
Othernotes：
（2）Significant not wholly-owned subsidiaries
In RMB
||||||
|-|-|-|-|-|
||Holding proportion ofnon-controlling interest|Profit or loss attributable|||
||||Dividend declared to|Closing balance of|
|Name||to non-controlling|||
||||non-controlling interest|non-controlling interest|
|||interest|||
|Jinghai Power|35.00%|8,735,178.00|131,516,240.00|1,187,364,478.00|
|Zhanjiang Power|24.00%|13,080,639.00|15,765,106.00|954,741,304.00|
|Zhongyue Energy|10.00%|-2,998,235.00|0.00|123,000,905.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|Pinghai Power plant|55.00%|136,872,118.00|70,479,693.00|1,044,317,751.00|
|Red Bay|35.00%|28,843,287.00|65,318,133.00|1,109,725,693.00|

 Othernotes：
（3）Main financial information of significant not wholly-owned subsidiaries
In RMB
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
||Closing balance||||||Beginning balance||||||
||||Totalassets||Non-curr||||||Non-curr||
|Subsidia||Non-curr||||||Non-curr|||||
||Current|||Current|ent|Total|Current||Total|Current|ent|Total|
|ries||ent||||||ent|||||
||assets|||liabilities|Liabilitie|liabilities|assets||assets|liabilities|Liabilitie|liabilities|
|||assets||||||assets|||||
||||||s||||||s||
|Jinghai|1,273,32|8,598,68|9,872,00|2,789,55|3,689,97|6,479,53|1,040,86|8,869,63|9,910,49|1,945,97|4,221,24|6,167,22|
|Power|1,506.00|3,376.00|4,882.00|5,106.00|9,838.00|4,944.00|2,549.00|1,166.00|3,715.00|9,818.00|0,924.00|0,742.00|
|Zhanjian|2,650,73|1,646,25|4,296,99|311,292,|7,610,26|318,902,|2,635,81|1,628,72|4,264,54|266,643,|8,623,65|275,267,|
|g Power|9,960.00|1,527.00|1,487.00|461.00|1.00|722.00|1,946.00|9,534.00|1,480.00|782.00|2.00|434.00|
|Zhongyu|1,075,44|4,043,39|5,118,84|2,187,01|1,701,82|3,888,83|787,500,|4,174,81|4,962,31|2,300,14|1,402,17|3,702,31|
|e Energy|6,900.00|8,472.00|5,372.00|5,830.00|0,496.00|6,326.00|368.00|0,283.00|0,651.00|9,103.00|0,149.00|9,252.00|
|Pinghai|||||||||||||
||1,176,75|5,024,02|6,200,78|1,796,22|2,505,79|4,302,02|1,305,07|5,218,72|6,523,79|1,778,70|2,795,03|4,573,74|
|Power|||||||||||||
||8,570.00|9,020.00|7,590.00|8,371.00|9,671.00|8,042.00|2,062.00|2,817.00|4,879.00|9,983.00|8,849.00|8,832.00|
|plant|||||||||||||
||926,075,|6,286,28|7,212,36|2,014,71|2,027,00|4,041,71|952,162,|6,568,48|7,520,64|2,218,79|2,027,00|4,245,79|
|Red Bay|||||||||||||
||165.00|8,360.00|3,525.00|8,688.00|0,000.00|8,688.00|266.00|6,587.00|8,853.00|0,170.00|0,000.00|0,170.00|

 In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Current term||||Last term||||
||Operatingrevenue|||Cash flow|||Total|Cash flow|
||||Total||||||
|Subsidiaries||||from|Operating|||from|
|||Net profit|comprehensi|||Net profit|comprehensi||
|||||operating|revenue|||operating|
||||ve income||||ve income||
|||||activities||||activities|
|Jinghai|2,039,554,63|24,957,651.0|24,957,651.0|413,666,161.|1,893,497,35|308,822,089.|308,822,089.|908,604,845.|
|Power|8.00|0|0|00|6.00|00|00|00|
|Zhanjiang|788,546,128.|54,502,661.0|54,502,661.0|179,237,568.|712,964,181.|114,463,937.|114,463,937.|221,511,879.|
|Power|00|0|0|00|00|00|00|00|
|Zhongyue|939,029,047.|-29,982,353.0|-29,982,353.0|21,565,511.0|579,021,644.|-20,634,926.0|-20,634,926.0|220,510,244.|
|Energy|00|0|0|0|00|0|0|00|
|Pinghai|1,648,628,42|248,858,396.|248,858,396.|545,126,473.|1,071,592,03|217,878,039.|217,878,039.|587,380,149.|
|Power plant|3.00|00|00|00|7.00|00|00|00|
|Red Bay|1,859,528,65|82,409,392.0|82,409,392.0|444,425,499.|1,482,420,96|214,574,280.|214,574,280.|996,511,695.|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||||
|-|-|-|-|-|-|-|-|
|4.00|0|0|00|5.00|00|00|00|

 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
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
In RMB
 Other notes
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|50.00%||Equity method|
|Associates ：|||||||
|Yudean Finance|Guangzhou|Guangzhou|Finance|25.00%||Equity method|
|Shanxi Yudean|||||||
||Taiyuan|Taiyuan|Coal investment|40.00%||Equity method|
|Enerty|||||||
|Taishan Power|||||||
||Taishan|Taishan|Electric|20.00%||Equity method|
|Generation|||||||
|Yudean Insurance|Guangzhou|Guangzhou|Insurance|49.00%||Equity method|

 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|3,118,023,480.00|2,795,941,710.00|
|Including ：Cash and cash equivalent|1,018,624,296.00|765,618,880.00|
|Non-current assets|70,788,920.00|243,947,673.00|
|Total of assets|3,188,812,400.00|3,039,889,383.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|Current liabilities|2,240,285,797.00|1,870,177,206.00|
|Total liabilities|2,240,285,797.00|1,870,177,206.00|
|Attributable to shareholders of the parent|||
||948,526,603.00|1,169,712,177.00|
|company|||
|Share of net assets calculated by stake|474,263,302.00|584,856,088.00|
|--Other|-614,728.00|-614,728.00|
|Book value of equity investment in joint|||
||473,648,574.00|584,241,360.00|
|venture|||
|Business income|9,762,707,487.00|5,301,238,839.00|
|Financial expenses|-5,148,310.00|-11,516,927.00|
|Income tax|23,646,185.00|23,172,199.00|
|Net profit|70,938,555.00|68,086,681.00|
|Total comprehensive income|70,938,555.00|68,086,681.00|
|Dividends received from the joint venture|||
||59,231,115.00|79,989,336.00|
|this year|||

Other notes
(3) Main financial information of significant associated enterprise
In RMB
||||||||
|-|-|-|-|-|-|-|
||Closing balance/This period|||Opening balance/Last period|||
||||Taishan Power|||Taishan Power|
||Yudean Finance|Shanxi Enerty||Yudean Finance|Shanxi Enerty||
||||Generation|||Generation|
|Current assets|5,698,154,959.00|65,354,498.00|1,429,416,580.00|5,211,498,322.00|104,203,352.00|1,442,926,060.00|
|Non-current|||||||
||12,456,857,100.00|2,897,157,163.00|10,885,624,671.00|11,831,239,639.00|2,624,640,590.00|13,558,011,862.00|
|assets|||||||
|Total of assets|18,155,012,059.00|2,962,511,661.00|12,315,041,251.00|17,042,737,961.00|2,728,843,942.00|15,000,937,922.00|
|Current|||||||
||15,522,167,101.00|73,562,058.00|4,680,241,099.00|14,425,370,556.00|232,860,464.00|5,147,444,203.00|
|liabilities|||||||
|Non-current|||||||
|||150,000,000.00|||||
|liabilities|||||||
|Total liabilities|15,522,167,101.00|223,562,058.00|4,680,241,099.00|14,425,370,556.00|232,860,464.00|5,147,444,203.00|
|Minority|||||||
|shareholder||||||1,039,584.00|
|Equity|||||||
|Attributable to|||||||
|shareholders|||||||
||2,632,844,958.00|2,738,949,603.00|7,634,800,153.00|2,617,367,405.00|2,495,983,478.00|9,852,454,135.00|
|of the parent|||||||
|company|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||
|-|-|-|-|-|-|-|
|Share of net|||||||
|assets|||||||
||658,211,240.00|1,095,579,841.00|1,526,960,031.00|654,341,853.00|998,393,391.00|1,970,490,827.00|
|calculated by|||||||
|stake|||||||
|--Goodwill|13,325,000.00|||13,325,000.00|||
|Book value of|||||||
|equity|||||||
||671,536,240.00|1,095,579,841.00|1,526,960,031.00|667,666,853.00|998,393,391.00|1,970,490,827.00|
|investment in|||||||
|associates|||||||
|Business|||||||
||288,014,924.00|558,089.00|3,240,744,080.00|297,690,340.00|563,903.00|2,706,581,671.00|
|income|||||||
|Net profit|184,657,686.00|262,966,125.00|315,111,648.00|174,374,625.00|21,886,301.00|584,920,161.00|
|Other|||||||
|comprehensive|184,657,686.00|262,966,125.00|315,111,648.00||||
|income|||||||
|Total|||||||
|comprehensive|184,657,686.00|262,966,125.00|315,111,648.00|174,374,625.00|21,886,301.00|584,920,161.00|
|income|||||||
|Dividends|||||||
|received from|||||||
|the|||||||
||42,295,033.00|8,000,000.00||59,406,856.00|||
|associated|||||||
|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|1,343,539,880.00|1,211,845,318.00|
|The total number of the following|--|--|
|--Net profit|-6,772,948.00|-59,965,371.00|
|Other comprehensive income||970,838.00|
|Total comprehensive income|-6,772,948.00|-58,994,533.00|

Other notes
(5) Note to the significant restrictions of the ability of joint venture or associated enterprise transfer funds
to the Company
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 (6) The excess loss of joint venture or associated enterprise
In RMB
|||||
|-|-|-|-|
||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 nstruments
The Group has exposure to the following risks from its use of financial instruments in
the normal course of theGroup‘s operations, which mainly include: Credit risk, Liquidity risk, Interest rate risk and Foreign exchange risk.This note presents information about theGroup’s exposure to each of the above risks and their sources and changes during the year, theGroup’s objectives, policies and processes for measuring and managing risks and their changes during the year. The Group aims to seek the appropriate balance between the risks and benefits from its use of financial instruments and to mitigate the adverse effects that the risks of financial instruments have on theGroup‘s financial performance. Based on such objectives, theGroup‘s risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and theGroup‘s activities.
(1) Credit risk
Credit risk is the risk that one party to a financial instrument will cause a financial loss for the other party by failing to discharge an obligation. TheGroup’s credit risk is primarily attributable to cash at bank and receivables. Exposure to these credit risks are monitored by management on an ongoing basis.
The cash at bank of the Group is mainly held with well-known financial institutions in China, which have no any default records of paying deposits and interests. Management does not foresee any significant credit risks from these deposits and does not expect that these financial institutions may default and cause losses to the Group. Accounts receivable of the Group are mainly electricity payment due from GPGC, entrusted loans due from related parties. Management continues to perform credit assessment on thedebtors’ financial position, but usually does not require collaterals for outstanding debts. In view of the liquidity of outstanding amounts, management had provision for
corresponding bad debts and the actual losses on bad debts were within their expectation. Based on the past record
of debtors and the positive recovery of accounts receivable, management thinks the Group has no significant credit
risk over accounts receivable.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 As at 30 June 2017, the debtors that are past due but not impaired based on individual or collective assessment are not significant.
(2) Liquidity risk
Liquidity risk is the risk that an enterprise will encounter difficulty in meeting obligations associated with financial liabilities. theGroup’s current liabilities was more than its current assets of RMB 6.528billion（December 31,2016：RMB 5.712billion）, implying the Group is exposed to certain liquidity risks. Management ensures the liquidity risk is within a controllable range with the following measures:
(a) Use the existing financing credit to repay theGroup’s liabilities and fulfil the
requirement of theGroup’s capital expenditure;
(b) Expedite the approval procedure of relevant documents to secure credit line subject to the approval of the construction of new units;
(c) Obtain stable cash inflow from operating activities;
(d) Closely monitor and control the payment amount and time required for the construction of new power station and the purchase of new generators.
(3) Interest rate risk
The Group has no other significant interest-bearing assets except for cash at banks and entrusted loans. The Group earns interest income from cash at banks at floating rates published by the banks from time to time. Any change in the interest rate published by the banks is not considered to have significant impact to the Group.
TheGroup’s interest rate risk mainly arises from long-term interest-bearing borrowings, including long-term bank borrowings, corporate bonds issued and finance lease payable.Interest-bearing financial instruments at fixed rates and variable rates expose the Group to fair value interest rate risk and cash flow interest risk, respectively. The Group determines the appropriate weightings of the fixed and floating rate interest-bearing instruments based on the current market conditions and performs regular reviews and monitoring to achieve an appropriate mix of fixed and floating rate exposure. The Group does not enter into financial derivatives to hedge interest rate risk.
(4) Foreign exchange risk
Exchange risks that the Group is exposed to are generally related to USD, EUR and HKD. The Group settles all major business transactions in RMB except for capital contribution from foreign investors, income from certified emission reduction, long-term loans and dividends to foreign investors. RMB is still not able to exchange
into other currencies because of the restrictions announced by the Chinese government on RMB exchange rate and foreign currency control. Therefore, all monetary assets and liabilities denominated in foreign currencies are exposed to any fluctuation in exchange rates.
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|||||
|（1）Available-for –sale|||||
||442,301,175.00|||442,301,175.00|
|financial assets|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|（2）Investment interest|||||
||442,301,175.00|||442,301,175.00|
|tools|||||
|II. Non –persistent|||||
||--|--|--|--|
|measure|||||

2.Recognized basis for the market price sustaining and non-persistent measured by fair value oon first-order For the available-for-sale financial assets in an active market, their fair values are measured at the quoted price at balance sheet date.
3. Valuation technique and qualitative and quantitative information on major parameters for the fair value measure sustaining and non-persistent on second-order
Except for available-for-sale financial assets that measured at historical cost not being able to gain fair value, the carrying amounts of financial assets and financial liabilities not measured at fair value are not materially different from their fair values.
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
|||||||
|-|-|-|-|-|-|
||||||Vote right ratio of|
|||||Share ratio of parent||
|Parent company|||||parent company|
||Registration place|Nature|Registered capital|company against the||
|name|||||against the|
|||||company(%)||
||||||company(%)|
|||Power plant||||
|Guangdong Yudean||operating,electricity||||
||Guangzhou||23,000,000,000|67.39%|67.39%|
|Group||assets management,||||
|||electricity 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 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|
|Taishan Electric|Associate|
|Shanxi Yudean Energy|Associate|
|Guangdong Yudean Finance|Associate|
|Yudean West Investment|Associate|
|Guangdong Yudean Shipping|Associate|
|Weixin Yuntou Yudean Zhaxi|Associate|
|Huaneng Shantou Wind Power|Associate|
|Yangshan Jiangkeng Hydropower station|Associate|
|Yangshan Zhongxinkeng Power|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|
|Shaoguan D plant|Controlled by Yudean|
|Shajiao C plant|Controlled by Yudean|
|Yudean Xinfengjiang|Controlled by Yudean|
|Zhuhai Power Generation Plant|Controlled by Yudean|
|Zhuhai Jinwan|Controlled by Yudean|
|Biomass Electric Power|Controlled by Yudean|
|Yudean PM|Controlled by Yudean|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||
|-|-|
|Yueyang Power Generation|Controlled by Yudean|
|Yudean Information Technology|Controlled by Yudean|
|Yudean Property|Controlled by Yudean|
|Zhuhai Hengda Energy|Controlled by Yudean|
|Yudean Environmental protection|Controlled by Yudean|
|Shenzhen Tianxin|Controlled by Yudean|
|Huangpu Electric Power Engineering|Controlled by Yudean|
|Huangpu Yuehua Human Resources|Controlled by Yudean|
|Yudean Menghua New Energy|Controlled by Yudean|
|Chaokang Investment|Controlled by Yudean|
|Yuehua Power Generation|Controlled by Yudean|
|Hailingwan LNG|Controlled by Yudean|
|Lianzhou Electric Plant|Controlled by Yudean|
|Yunhe Power Generation|Controlled by Yudean|
|Yuelong Power Generation|Controlled by Yudean|
|Zhongshan Thermal power|Controlled by Yudean|
|Port of Yangjiang|Controlled by Yudean|
|Yudean Natural gas|Controlled by Yudean|
|Guanghe Electric|Controlled by Yudean|
|Haidian Shippping|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
|||||||
|-|-|-|-|-|-|
|||||Whether over the||
|Related party|Content|Current amount|Approval trading limit||Last amount|
|||||trading limit(Y/N)||
|Fuel Company|Fuel purchase|6,815,959,245.00||No|2,921,964,877.00|
|Yudean Natural gas|Fuel purchase|99,369,938.00||No|0.00|
|Yudean||||||
|Environment|Material purchase|57,013,375.00||No|37,885,800.00|
|Protection||||||
||Acceptance of|||||
|Yudean Shipping||12,606,792.00||No|11,287,925.00|
||tugboat services|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
||Acceptance of||||
|Yudean Property|||||
||management|12,828,482.00|No|13,161,382.00|
|Management|||||
||services||||
|Guangzhou|||||
|Huangpu Electric|Maintenance||||
|||2,987,898.00|No|2,823,555.00|
|Power Engineering|services||||
|Co., Ltd.|||||
||Acceptance of||||
|Yangjiang Port||3,327,803.00|No|2,324,268.00|
||tugboat services||||
|Yudean Property|Leasing service|32,966.00|No|1,071,805.00|
||Acceptance of||||
|Yudean Information|management|454,427.00|No|1,202,279.00|
||services||||
|Huangpu Yuehua|Human receivaces|1,438,680.00|No|1,481,840.00|
|Yudean Yunhe|||||
||Electric purchase|777,641.00|No|0.00|
|Power Generation|||||
|Yuuhua Power|||||
||Electric purchase|20,367,239.00|No|0.00|
|Generation|||||
|Zhuhai Jinwan|||||
||Electric purchase|14,669,222.00|No|0.00|
|Power Generation|||||
|Guanghe Electric|||||
||Electric purchase|10,249,291.00|No|0.00|
|Power|||||
|Yuelong Power|||||
||Electric purchase|3,699,971.00|No|0.00|
|Generation|||||

Sales of goods and services
In RMB
|||||
|-|-|-|-|
|Related parties|Content|Occurred current term|Occurred in previous term|
|Yudean Environment Protection|Sale of Material|34,746,789.00|32,839,559.53|
||Providing maintenance|||
|Shajiao C||1,113,144.00|12,187,615.41|
||services|||
|Zhuhai Jinwan Power|Providing maintenance|||
|||126,904.00|1,229,312.10|
|Generation Co., Ltd.|services|||
|Yudean Yunhe Power|Providing maintenance|||
|||9,463,005.00|0.00|
|Generation|services|||
|Guangdong Haidian Shipping||||
||Service|0.00|2,912.82|
|Co., Ltd.||||

Notes
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017（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
(3) Information of related lease
The company eas lessor:
In RMB
|||||
|-|-|-|-|
|||The lease income confirmed in|The lease income confirmed in|
|Name of lessee|Category of leased assets|||
|||this year|last year|

The Company waslessee：
In RMB
|||||
|-|-|-|-|
|||The lease income confirmed in||
|Lessor|Category of leased assets||Category of leased assets|
|||this year||
|Yudean Property|Property Leasing|32,966.00|2,171,974.00|
|Maoming Thermal power plant||||
||Property Leasing|74,003.00|51,802.00|

 Notes
（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|

Statement on related guarantees
(5) Inter-bank lending of capital of relatedparties：
In RMB
||||||
|-|-|-|-|-|
|Related party|Amount borrowed and|Initial date|Due date|Notes|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
||loaned|||
|Borrowed||||
|Guangdong Yudean||||
||200,000,000.00|March 6, 2017|March 5,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|April 25,2017|April 24,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|April 28, 2017|April 27,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|May 2,2017|May 1,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||300,000,000.00|May 2,2017|May 1,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||759,860,000.00|May 20,2017|May 19,2020|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|January 1,2017|June 30,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|Janaury 1,2017|June 8,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|June 8,2017|June 30,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|June 23,2017|June 30,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|January 1,2017|June 27,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|June 28,2017|June 30,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|January 1,2017|June 30,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|January 1,2017|June 30,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||80,000,000.00|January 1,2017|June 30,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|January 1,2017|June 30,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||140,000,000.00|January 1,2017|June 30,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|January 1,2017|April 17,2017|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Guangdong Yudean||||
||183,102,299.00|December 25,2013|December 24,2028|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||430,000,000.00|December 6,2007|December 5,2025|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|December 19,2016|February 9,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|December 19,2016|February 27,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|December 19,2016|March 1,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|November 16,2016|April 27,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|December 19,2016|April 13,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|March 20,2017|May 9,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000.00|February 21, 2017|August 20,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000.00|April 26,2017|April 25,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||280,000,000.00|June 16,2017|June 15,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|June 22,2017|June 21,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||52,900,000.00|December 21,2016|August 22,2022|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||250,000,000.00|July 13,2016|July 12,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000.00|September 28,2016|September 27,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|December 26,2016|December 25,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|March 29,2017|March 28,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000.00|April 17,2017|April 16,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|June 13,2017|June 12,2018|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Guangdong Yudean||||
||150,000,000.00|June 21,2017|June 20,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|June 28,2017|June 27,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||8,670,000.00|March 24,2014|March 24,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||8,540,000.00|April 24,2014|April 24,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||34,250,000.00|June 24,2014|June 23,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||27,940,000.00|July 19,2014|July 19,2019|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||17,090,000.00|December 19,2016|December 18,2021|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||37,720,000.00|June 28,2017|June 27,2022|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||14,170,000.00|November 12,2014|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||75,000,000.00|December 10,2014|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|February 4,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||45,000,000.00|June 17,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||25,000,000.00|July 23,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||24,000,000.00|September 15,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000.00|September 28,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||19,000,000.00|October 13,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||144,500,000.00|December 16,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|June 19,2017|June 18,2020|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||82,237,213.54|November 9,2016|November 8,2017|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Guangdong Yudean||||
||68,446,299.94|November 23,2016|November 22,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||70,869,200.00|June 29,2017|September 28,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|January 1,2017|May 18,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||175,000,000.00|January 1,2017|May 18,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|February 22,2017|February 22,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|January 19,2017|January 19,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|January 23,2017|January 23,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|November 24,2016|November 24,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|September 26,2016|September 26,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||14,000,000.00|August 22,2012|August 15,2031|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|March 6,2017|March 5,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|March 2,2017|March 1,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|March 8,2017|March 7,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|March 10,2017|March 9,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||15,000,000.00|July 19,2016|July 18,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|July 19,2016|July 18,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|June 8,2017|June 7,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|June 9,2017|June 8,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|July 19,2016|July 18,2017|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Guangdong Yudean||||
||5,000,000.00|July 12,2017|June 11,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|July 29,2016|July 28,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|June 13,2017|June 12,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||August 5,2016||
||10,000,000.00||August 4,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|September 2,2016|September 1,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||25,000,000.00|September 8,2016|September 7,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|December 8,2016|December 7,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|May 17,2017|May 16,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|May 18,2017|May 17,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|May 19,2017|May 18,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|May 24,2017|May 23,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|May 25,2017|May 24,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||September||
||25,000,000.00||September 7,2017|
|Finance Co., Ltd.||8,2016||
|Guangdong Yudean||||
||10,000,000.00|September 19,2016|September 18,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||35,000,000.00|October 11,2016||
|Finance Co., Ltd.|||October 10,2017|
|Guangdong Yudean||||
||40,000,000.00|October 20,2016|October 19,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|November 7,2016|November 6,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|November 10,2016|November 9,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||15,000,000.00|November 17,2016|November 16,2017|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Guangdong Yudean||||
||20,000,000.00|December 9,2016|December 8,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|December 20,2016|December 19,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|January 12,2017|January 11,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|January 19,2017|January 18,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|March 9,2017|March 8,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|March 16,2017|March 15,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|April 7,2017|April 6,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|April 13,2017|April 12,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||55,000,000.00|April 20,2017|April 19,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|May 17,2017|May 16,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||40,000,000.00|June 15,2017|June 14,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||40,000,000.00|June 28,2017|June 27,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||40,000,000.00|February 28,2017|February 27,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||280,000,000.00|May 19,2017|May 18,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||320,000,000.00|June 14,2017|June 13,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||80,000,000.00|June 20,2017|June 19,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000.00|December 24,2016|December 23,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|August 22,2016|August 21,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|September 26,2016|September 25,2017|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Guangdong Yudean||||
||30,000,000.00|October 10,2016|October 9,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|December 6,2016|December 5,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||60,000,000.00|December 27,2016|December 26,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|January 9,2017|January 8,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||60,000,000.00|February 7,2017|February 6,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||80,000,000.00|March 7,2017|March 6,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|March 21,2017|March 20,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000.00|April 5,2017|April 4,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|May 17,2017|May 16,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||110,000,000.00|June 2,2017|June 1,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|June 12,2017|June 11,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|August 15,2016|August 14,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|August 22,2016|August 21,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||89,300,000.00|June 23,2017|June 22,2032|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||70,000,000.00|February 15,2016|February 9,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||35,000,000.00|March 14,2016|March 10,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|March 21,2016|March 10,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000.00|July 12,2016|April 21,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|August 15, 2016|April 21,2017|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Guangdong Yudean||||
||40,000,000.00|August 22,2016|May 22,2017|
|Finance Co., Ltd.||||
|Loaned||||

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

 (7) Rewards for the key management personnel
In RMB
||||
|-|-|-|
||Amount of current period|Amount of previous period|
|Items|||
|Rewards for the key management|||
||2,904,056.00|3,128,044.00|
|personnel|||

（8）Other related transactions
(a)Allocation of common expenses
TheCompany’s branches Shajiao A and Shajiao C agreed to share common expenses based on their agreed allocation basis. In June 30, 2017, the common expenses received by the Group from Shajiao C was RMB1,309,960.00.( heCompany’s branches Shajiao A and Shajiao C agreed to share common expenses based on their agreed allocation basis. In June 30, 2016 the common expenses received by the Group from Shajiao C was RMB1,498,424.06.)
(b) Interest income
Items June 30,2017 June 30,2016
Deposit interest of Yudean
Finance Company 27,050,894.00 28,900,684.00
Proportion(%) 82.9% 87.04%
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 (c)Interest expense
June 30, 2017 June 30, 2016
Loan interest paid to Yudean Finance 138,471,921.00 133,064,560.78
Proprotion(%) 20.71% 18.28%
(d)Joiont investment
Percentage of equity
Attributable to Yudean
Proportion%
Yudean Finance 65%
Fuel Company 50%
Shanxi Enerty 60%
West Investment 35%
Yudean Shipping 45%
Yudean Insurnce 49%
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||4,074,044,815.00||4,799,004,094.00||
||Finance Co., Ltd.|||||
|Account receivable|Shajiao C|8,409,298.00||26,500,702.00||
||Guangdong|||||
|Account receivable||||2,599,915.00||
||ZhuhaiJinwan Power|||||
||Guangdong Yudean|||||
|Account receivable|Group Co.,|||279,747.00||
||Ltd.Zhuhai Power|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
||Biomass Electric|||
|Account receivable||||
||Power|||
|Account receivable|Yuelong Power||2,502,752.00|
|Account receivable|Yunhe Power|667,865.00|3,511,430.00|
||Guangdong Yudean|||
|Other receivable|Environmental|42,379,567.00|66,823,439.00|
||protection|||
|Other receivable|Yudean PI|1,274,519.00|1,134,699.00|
|Other receivable|Shajiao C|1,615,955.00|305,995.00|
|Other receivable|Yudean PM|413,282.00|367,626.00|
||Yudean Menghua|||
|Other receivable||16,320.00|16,320.00|
||New Energy|||
||Guangdong Yudean|||
|Interest receivable||20,790,253.00|16,640,918.00|
||Finance Co., Ltd.|||
|Prepayment|Industry fuel|658,185,449.00|911,360,683.00|
|Prepayment|Yudean Natural gas|30,366.00||
||Yudean|||
|Prepayment|InformationTechnol|177,925.00||
||ogy|||

（2）Payables
In RMB
|||||
|-|-|-|-|
|Name|Related party|Amount at year end|Amount at year beginning|
|Account payable|Guangdong Fuel Company|1,726,470,356.00|2,172,819,322.00|
|Account payable|Manming Thermal power|88,805,726.00|89,461,265.00|
||Guangdong Yudean|||
|Account payable||50,502,082.00|50,170,970.00|
||Environmental Protection|||
||Guangdong Yudean|||
|Account payable||152,200.00|702,577.00|
||InformationTechnology|||
|Account payable|Guangdong Yudean Shipping|1,220,000.00|3,660,000.00|
|Account payable|Guangzhou Huangpu Power|3,311,630.00|91,283.00|
|Account payable|Yuelong Power Generation|34,071.00|66,818.00|
|Account payable|Guangdong Yudean Property|1,003,729.00|0.00|
|Account payable|Zhuhai Hengda Enerty|37,183.00|0.00|
|Other payable|haoguan Power|7,747,887.00|10,974,060.00|
|Other payable|Guangzhou Huangpu Power|1,664,174.00|7,866,983.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||
|-|-|-|-|
|Other payable|Guangdong Yudean Property|619,603.00|4,864,696.00|
|Other payable|Manming Thermal power|4,000,000.00|4,000,000.00|
|Other payable|Guangdong Yudean Shipping|920,000.00|3,660,000.00|
||Huangpu Yuehua Human|||
|Other payable||5,863,867.00|2,209,375.00|
||Resource|||
||Guangdong Yudean|||
|Other payable||1,084,284.00|1,084,284.00|
||Environmental Protection|||
|Other payable|Yudean Real estate|0.00|1,051,099.00|
||Guangdong Yudean Information|||
|Other payable||113,200.00|112,500.00|
||Technology|||
|Other payable|Shenzhen Tianxin|3,070,000.00|70,000.00|
|Other payable|Zhuhai Hengda Enerty|0.00|37,183.00|
||Guangdong Yudean Finance|||
|Interest payable||9,004,936.00|67,537,822.00|
||Co., Ltd.|||
|Bill payable|Fuel Company|0.00|50,000,000.00|
||Guangdong Yudean Finance|||
|Bill payable||592,648,479.00|847,458,278.00|
||Co., Ltd.|||
||Guangdong Yudean Finance|||
|Short-term loan||5,680,000,000.00|3,710,000,000.00|
||Co., Ltd.|||
|Non-current liability due in 1|Guangdong Yudean Finance|||
|||0.00|267,331,709.00|
|year|Co., Ltd.|||
||Guangdong Yudean Finance|||
|Long-term loan||2,430,704,019.00|2,040,222,573.00|
||Co., Ltd.|||

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 2017□ 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 resolution of “Investment in Guishan Offshore Wind Power Project” during its first meeting in 2012 on 19 January, pursuant to which the Company will invest in the construction of South Wind Power based on its10% shareholding proportion and take part in Guishan Offshore Wind Power Project. The registered capital is tentatively set at RMB 900,000,000. The Company is required to invest RMB 90,000,000 as10% of the total capital of the project. As at 30 June 2017, the Company injected RMB 70,000,000 to South Wind Power.
(b) The Seventh Session of the Board passed the resolution of “Establishment of Guangdong Yudean Dabu Electric Ltd” during its 11th meeting on 29 October 2012, pursuant to which the Company will establish Dabu Electric as its wholly-owned subsidiary. The Company is required to inject RMB 1,104,000,000(20% of the total project investment RMB 5,520,000,000) in batches based on the construction progress. As at 30 June 2017, the Company invested RMB 1,000,000,000 to Dabu Electric.
(c) The Seventh Session of the Board passed the resolution of “Capital Increase 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 resolution of “Investment in 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 foresaid capital commitment is totaled at RMB 2,229,570,000. As at 30 June 2017, the Company injected RMB 2,100,000,000 to Bohe Coal.
(d) The Sixth Session of the Board agreed to increase its capital in theCompany’s associated company Shantou
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 Wind Power for the construction of a wind power project in Nanao East Island during its eighth meeting on 29 June 2009. The Company agreed to inject RMB 35,000,000 to Shantou Wind Power based on its25% shareholding proportion. The injection would be made in batches based on the construction progress. As at 30 June 2017, the Company injected RMB 12,470,000 to Shantou Wind Power.
(e) The Sixth Session of the Board passed the resolution of “Capital Increase in Guangdong Yudean Jinghai Power Co., Ltd.” during its 11th meeting on 15 April 2010, pursuant to which the Company agreed to inject RMB 565,025,500 to its subsidiary Jinghai Power based on its65% shareholding proportion. TheCompany’s proportion of shareholding in Jinghai Power remains unchanged following the completion of capital increase. As at 30 June 2017, the Company injected RMB 445,010,000 to Jinhai Power.
(f) The Seventh Session of the Board passed the resolution of “Investment in Offshore Wind Power Project by Guangdong Yudean Zhanjiang Wind Power Generation Co., Ltd.” during its second meeting on 28 June 2011, pursuant to which the Company agreed to inject RMB 140,000,000 to its subsidiary Zhanjiang Wind Power for the investment in Xuwen offshore wind power project. The injection would be made in batches based on the actual progress of the project. As at 30 June 2017, the Company injected RMB 75,730,000 to Zhanjiang Wind Power.
(g) The Board passed the resolution (vote& sign) of “Guangdong Yudean Zhanjiang Wind Power Generation Co., Ltd. to Establish Guangdong Yudean Leizhou Wind Power Co., Ltd.” on 9 January 2013, and as at the Eighth Session of the Board on 28 October 2014 the Board passed the resolution of “Capital Increase in Guangdoang Yudean Leizhou Wind Power Co., Ltd.”. Pursuant to which the Company established Leizhou Wind Power based on its70% shareholding proportion of Zhanjiang Wind Power. The registered capital of Leizhou Wind Power does not exceed RMB 162,450,000 and is responsible for the development of Hongxinlou wind power project (49.5MW). The injections of the Company will not surpass RMB 106,718,700 and that of Zhanjiang Wind Power not more than RMB 162,450,000. Thereafter, the Board agreed on the RMB 80,800,000 capital injection to Leizhou Wind Power, after which will own80% of Leizhou WindPower’s shares (the amount of capital injection is recorded the price conversion of the asset valuation by competent authorities). As at 30 June 2017, the Company has made RMB 80,800,000 of direct capital injection while Zhanjiang Wind Power has already offered RMB 20,000,000.
(h) The board meeting held on 20 July 2015 passed (vote and sign) the resolution of “Proposal on the Establishment of Guangdong Yudean Electricity Sale Co., Ltd.”. To seize the opportunity of power system reform, adapt to the market development and create new profits, the board agreed the Company to establish a wholly-owned company - Guangdong Yudean Electricity Sale Co., Ltd. with RMB 500,000,000 registered capital. Subsequent to the initial injection of RMB 200,000,000, the Company will inject the capital in batches based on the business development. As at 30 June 2017, the Company has made the capital injection of RMB 230,000,000. (i) The board meeting held on 20 July 2015 passed (vote and sign) the resolution of “Capital Increase in Guangdong Yudean Huadu Natural Gas Thermal Power Co., Ltd.”. To promote the subsequent development of natural gas thermal power project in Huadu, the board agreed the Company to increased capital of RMB 19,500,000 to Guangdong Yudean Huadu Natural Gas Thermal Power Co., Ltd. based on its65% shareholding proportion. As at 30 June 2017, the Company has accomplished full capital contribution
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 (j) The Eighth Session of the Board passed the resolution of “Establishment of Guangdong Yudean Property Self-Insurance Co., Ltd.” during its 9th meeting on 12 November 2015, to enhance theCompany’s capability of managing quantitative risks and insurance. The board agreed to establish Guangdong Yudean Property Self-Insurance Co., Ltd. with Yudean, the controlling shareholders, in which the Company contributed RMB147,000,000 and accounted for49% of the equity. As at 30 June 2017, the Company has not made capital contribution.
(k) The Eighth Session of the Board passed the resolution of “Establishment of Dagaoshan Wind Power Project Company in Dong Autonomous County of Tongdao in Hunan Province” during its 14th meeting on 28 October 2016. To propel the preliminary work of the Hunan Dagaoshan Wind Power project and develop and extend wind power in Hunan Province, the board agreed to establish solely-owned “Dagaoshan Wind Power Project Company” in charge of investment, development and construction of the Dagaoshan Wind Power project. The initial contribution of the registration capital tentatively set as RMB 10,000,000, and the remaining capital will be injected at proper time according to the approval situation of the project and the construction plan deliberated and approved by the board of directors. As at 30 June 2017, the Company has not made capital contribution. 2.Contingency
（1）Significant contingency at banlance sheet date
On June 30, 2017, the Company provided joint and several liability guarantee for bank borrowings of RMB 146,450,000 for Yunnan Baoshan binglangjiang Hydropower Development Co., Ltd., which is in process. On June 30, 2017, the Company provided joint liability guarantee for the investment of RMB15,755,290 in Zhanjiang Fengli. The bank loan of RMB 116,000,000 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
XIV. 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 2017 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
6. Segment information
(1) Recognition basis and accounting policies of reportable segment
(2) The financial information of reportable segment
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 In RMB
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Parent|Jinghai|Huizhou||ZhanjiangPower|Zhongyue||Partial||
|Items||||Red Bay|||Other||Total|
||Company|Power|Pinghai|||Enerty||offset||
|Main||||||||||
||928,897,921|2,029,676,1|1,633,980,6|1,846,487,8|779,186,233|932,577,754|4,180,620,0|-30,183,644|12,301,242,|
|Buinsess||||||||||
||.00|13.00|61.00|95.00|.00|.00|54.00|.00|987.00|
|Income||||||||||
|Main||||||||||
||885,653,373|1,826,542,9|1,214,359,9|1,625,969,8|713,303,288|892,944,054|3,994,186,4|-36,666,119|11,116,293,|
|Buinsess||||||||||
||.00|71.00|20.00|65.00|.00|.00|52.00|.00|804.00|
|Cost||||||||||
||1,020,349,0|33,276,869.|341,289,010|109,274,861|76,392,413.|-39,976,471|-198,407,89|-913,793,23|428,404,632|
|Profit Total||||||||||
||73.00|00|.00|.00|00|.00|2.00|1.00|.00|
||27,921,434,|9,872,004,8|6,200,787,5|7,212,363,5|4,296,991,4|5,118,845,3|31,271,183,|-21,663,038|70,230,573,|
|Assets Total||||||||||
||543.00|82.00|90.00|25.00|87.00|72.00|779.00|,117.00|061.00|
|Liability|5,011,567,8|6,479,534,9|4,302,028,0|4,041,718,6|318,902,722|3,888,836,3|20,632,616,|-3,352,019,|41,323,185,|
|Total|70.00|44.00|42.00|88.00|.00|26.00|742.00|754.00|580.00|

 (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
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|||||
||Book Balance||Bad debt provisionAmount Proportion(%)||Book Balance||Bad debt provision|||
|Classification||||Book||||||
||||||||||Book value|
||Amount|Proportio|Amount||Amount|Proportio|Amount|Proportion(||
|||||value||||||
|||n(%)||||n(%)||%)||
|Accounts receivable||||||||||
|of individual||||||||||
|significance and|208,906,|||208,906,1|211,416||||211,416,39|
|||100.00%||||99.56%||||
|subject to individual|179.00|||79.00|,396.00||||6.00|
|impairment||||||||||
|assessment||||||||||
|Accounts receivable|||||926,802|0.44%|||926,802.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||
|-|-|-|-|-|-|-|
|of individual||||.00|||
|insignificance but|||||||
|subject of|||||||
|individual|||||||
|impairment|||||||
|assessment|||||||
||208,906,||208,906,179.00|212,343||212,343,198.00|
|Total||100.00%|||100.00%||
||179.00|||,198.00|||

 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|
||||0.00%|Full amount recovery is|
|GPGC|208,906,179.00||||
|||||expected|
|Total|208,906,179.00||--|--|

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
Not applicable
||||||
|-|-|-|-|-|
|Content of accountreceivable|Book amount|Provision for bad debts|Proportion of provision|Reason for provision|
|Electricityreceivable|208,906,179||0.00||
|Thermal salesreceivable|||0.00||
|Services|||0.00||
|Other|||0.00||
|Total|208,906,179||||

（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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|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 forwritten-off|Verification|Arising form related|
|Name||Amount written-off||||
||receivable|||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
|||||
|-|-|-|-|
|Name|Amount|Provision for bad debts|Proportion(%)|
|Total|208,906,179|-||
|GPGC|208,906,179|||

(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 provision|||||Bad debt|||
||Book Balance|||||Book Balance|||||
|Classification|||||Book|||provision|||
|||||||||||Book value|
|||Proportio||Proportio|value||Proportio|Amoun|Proport||
||Amount||Amount|||Amount|||||
|||n(%)||n(%)|||n(%)|t|ion(%)||
|Other accounts||||0.00%|||||||
|receivable of|||||||||||
|individual|||||||||||
||10,000,0||||10,000,00|115,767,0|||||
|significance and||48.38%|||||94.17%||0.00%|115,767,023.00|
||00.00||||0.00|23.00|||||
|subject to individual|||||||||||
|impairment|||||||||||
|assessment|||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||||||
|-|-|-|-|-|-|-|-|-|
|Other accounts|||0.00%||7,166,726.00||||
|receivable of|||||||||
|individual|||||||||
||10,671,5|||10,671,59|||||
|insignificance but||51.62%||||5.83%|11.73%|7,166,726.00|
||98.00|||8.00|||||
|subject to individual|||||||||
|impairment|||||||||
|assessment|||||||||
||20,671,5||0.00%|20,671,598.00|122,933,749.00|||122,933,749.00|
|Total||100.00%||||100.00%|4.59%||
||98.00||||||||

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|
|Tongdao Yuexin Wind Po|||||
||10,000,000.00||||
|wer Generation Co., Ltd.|||||
|Total|10,000,000.00||--|--|

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|
|Name|Nature|Amount|Reason|program||
||||||is generated by|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||
|-|
|related party|
|transactions|

Notes：
(4) Other account receivables category by nature of money
In RMB
||||
|-|-|-|
|Naature|Ending book balance|Beginning book balance|
|Prepayments for construction|10,000,000.00||
|Reserve funds|3,773,825.00|319,051.00|
|Prepayments for construction|773,384.00|313,647.00|
|Government Grants||100,000,000.00|
|Pending investment||15,767,023.00|
|Other|6,124,389.00|6,534,028.00|
|Total|20,671,598.00|122,933,749.00|

（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|
|Tongdao Yuexin Wind||||||
|Pwer Generation Co.,|Pending investment|10,000,000.00|Within 1 year|48.38%||
|Ltd.||||||
|Guangdong Yudean||||||
|Environmental|Product sales|2,943,808.00|ithin 1 year|14.24%||
|Protection Co., Ltd.||||||
|Dongguan Humen||||||
||Water and electricity|||||
|Jinfan Industry||1,912,320.00|ithin 1 year|9.25%||
||rental advances|||||
|Company||||||
|Guangdong Yudean|Water and electricity|||||
|||1,615,955.00|ithin 1 year|7.82%||
|Group Shajiao C|rental advances|||||
|Employee|Petty cash|773,384.00|ithin 1 year|3.74%||
|Total|--|17,245,467.00|--|83.43%||

(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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017 (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|18,447,151,604.0||17,957,584,389.0|18,015,651,604.0||17,526,084,389.0|
|||489,567,215.00|||489,567,215.00||
|subsidiaries|0||0|0||0|
|Investment in|||||||
|joint ventures and|5,626,407,737.00||5,626,407,737.00|5,370,651,524.00||5,370,651,524.00|
|associates|||||||
|Total|24,073,559,341.0||23,583,992,126.00|23,386,303,128.0||22,896,735,913.00|
|||489,567,215.00|||489,567,215.00||
||0|||0|||

（1）Investment in subsidiaries
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||||Impairment|
||||||Impairment||
|Name of investee|Opening balance|Increase|Decrease|Closing balance||provision for the|
||||||provision||
|||||||year|
|Zhanjiang Power|2,185,334,400.00|||2,185,334,400.00|||
|Guangdong Yujia|631,679,338.00||||||
|||||631,679,338.00|0.00|455,584,267.00|
|Power|||||||
|Maoming|687,458,978.00||||||
|||||687,458,978.00|||
|Zhenneng|||||||
|Guangdong|||||||
|Yudean Jinghai|1,930,395,668.00|||1,930,395,668.00|||
|Power|||||||
|Guangdong|242,277,000.00||||||
|Yudean|||||||
|||||242,277,000.00|||
|Zhangjiang Wind|||||||
|Power|||||||
|Zhangjiang|1,150,248,115.00||||||
|||||1,150,248,115.00|||
|Zhongyue Energy|||||||
|Guangdong|90,000,000.00||||||
|||||90,000,000.00|0.00|33,982,948.00|
|Humen Power|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|Guangdong|||||
||20,000,000.00||20,000,000.00||
|Yudean Anxin|||||
|Guangdong|||||
|Yudean Bohe|1,985,000,000.00|115,000,000.00|2,100,000,000.00||
|Electric|||||
|Huizhou Pinghai|||||
||720,311,347.00||720,311,347.00||
|Power|||||
|Guangdong Red|||||
||2,220,023,386.00||2,220,023,386.00||
|Bay|||||
|Huizhou Natural|||||
||977,416,646.00||977,416,646.00||
|Gas|||||
|Guangqian Power|1,353,153,223.00||1,353,153,223.00||
|Yuejiang Power|856,694,674.00|297,000,000.00|1,153,694,674.00||
|Huadu Natural Gas|78,000,000.00|19,500,000.00|97,500,000.00||
|Dapu Power|1,000,000,000.00||1,000,000,000.00||
|Province Wind|||||
||827,419,390.00||827,419,390.00||
|Power|||||
|Leizhou Wind|||||
||80,800,000.00||80,800,000.00||
|power|||||
|Qujie Wind Power|231,750,000.00||231,750,000.00||
|Electric Sale|230,000,000.00||230,000,000.00||
|Lincang Energy|427,689,439.00||427,689,439.00||
|Yudean Yongan|||||
||90,000,000.00||90,000,000.00||
|Natural gas|||||
||18,015,651,604.00||18,447,151,604.00|489,567,215.00|
|Total||431,500,000.00|||

（2）Investment in joint ventures and associates
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||Increase/decrease in this period||||||||||
||||||||||||Balance|
||||||||Announce|||||
|||||Investme|||||||of the|
|||Increase|Decrease||Other||d for|Provision||||
|Name of|Beginnin|||nt income||Other||||End of|provision|
|||in|in||comprehe||distributin|for||||
|investee|g of term|||under||changes|||Other|term|on for|
|||investmen|investmen||nsive||g cash|impairme||||
|||||equity||in eqiuty|||||impairme|
|||t|t||income||dividend|nt||||
|||||method|||||||nt|
||||||||or profit|||||
|I.Joint venture||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
|||||||
|-|-|-|-|-|-|
|Industry|584,241,3||35,469,27|59,231,11|560,479,5|
|Fuel|60.00||6.00|5.00|21.00|
||584,241,3||35,469,27|59,231,11|560,479,5|
|Subtotal||||||
||60.00||6.00|5.00|21.00|
|II. Associatesd||||||
|Shanxi||||||
||998,393,3||105,186,4|8,000,000|1,095,579|
|Yudean||||||
||92.00||50.00|.00|,842.00|
|Enerty||||||
|Yudean|667,666,8||46,164,42|42,295,03|671,536,2|
|Finance|53.00||2.00|3.00|42.00|
|Taishan|1,970,490||45,012,24||2,015,503|
|Power|,827.00||6.00||,073.00|
|Yudean|935,332,5||5,930,929|2,188,557|939,074,9|
|Shipping|53.00||.00|.00|25.00|
|Yudean||||||
|West|200,011,5||-17,279,5||182,732,0|
|Investme|82.00||05.00||77.00|
|nt||||||
|Yangshan|5,991,055||420,904.0||6,411,959|
|Jiangkeng|.00||0||.00|
|Yangshan||||||
||8,523,902||500,129.0|933,933.0|8,090,098|
|Zhongxin||||||
||.00||0|0|.00|
|keng||||||
|Yudean||147,000,0|||147,000,0|
|Insurance||00.00|||00.00|
||4,786,410|147,000,0|185,935,5|53,417,52|5,065,928|
|Subtotal||||||
||,164.00|00.00|75.00|3.00|,216.00|
||5,370,651,524.00|147,000,0|221,404,8|112,648,6|5,626,407,737.00|
|Total||||||
|||00.00|51.00|38.00||

（3）Other
4. Business income, Business cost
In RMB
||||||
|-|-|-|-|-|
||Amount of current period||Amount of previous period||
|Items|||||
||Income|Cost|Income|Cost|
|Main business|928,897,921.00|885,653,373.00|10,169,505,901.00|7,754,418,633.00|
|Other business|10,867,381.00|1,472,966.00|65,483,665.00|13,491,596.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|Total|939,765,302.00|887,126,339.00|10,234,989,566.00|7,767,910,229.00|

 Othernotes：
5. Investment income
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Income from long-term cost investment|877,823,419.00|1,717,042,667.00|
|Income from long-term equity investment|221,764,316.00|123,853,097.00|
|Hold the investment income during from|||
||2,124,000.00|2,520,000.00|
|available-for-sale financial assets|||
|Entrust Loan interest income|8,780,663.00|11,146,250.00|
|Other|-15,227.00|-1,416,699.00|
|Total|1,110,477,171.00|1,853,145,315.00|

 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|||
||612,592.00||
|non-current asset|||
|Governmental subsidy calculated into|||
|current gains and loess（while closely related|||
|with the normal business of the Company,|||
||2,257,231.00||
|excluding the fixed-amount or|||
|fixed-proportion governmental subsidy|||
|according to the unified national standard）|||
|||Guangqian company received the|
|||Decisions on Handling of the Tax Affairs|
|Effect on current gains/losses when a one-off||(SGSJC[2017] No.0013) issued by the|
|adjustment is make tocurent gains/losses|-28,088,810.00|Inspection Department of Shenzhen|
|according to requirements of taxation.||Municipal Office, SAT on June 26, 2017,|
|||which requires Guangqian company to pay|
|||VAT and overdue fees. Such decisions are|
|||under negotiation among several parties at|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||
|-|-|-|
|||present.|
|Other non-business income and expenditures|||
||-3,175,695.00||
|other than the above|||
|Less：Influence amount of income tax|980,615.00||
|Influenced amount of minor shareholders’|||
||-1,308,291.00||
|equity|||
|Total|-28,067,006.00|--|

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(R|Diluted eqrnings per|
|||MB/share）|share(RMB/share)|
|Net profit attributable to the||0.0245|0.0245|
|Common stock shareholders of|0.55%|||
|Company.||||
|Net profit attributable to the||||
|Common stock shareholders of||||
||0.67%|0.0299|0.0299|
|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|128,735,725.00|738,374,784.00|23,104,526,322.00|23,378,847,225.00|
|Items and amount adjusted according to IAS|||||
|The difference arising|||64,623,000.00|64,623,000.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2017
||||||
|-|-|-|-|-|
|from recognition of|||||
|goodwill after merger of|||||
|enterprises under the same|||||
|control|||||
|Difference arising|||||
|fromrecognition of land|||||
||-315,000.00|-315,000.00|18,545,000.00|18,860,000.00|
|use value after enterprise|||||
|merger|||||
|Influence on minority|||||
||27,060.00|27,060.00|4,674,919.00|4,701,979.00|
|interests|||||
|According to IAS|128,447,786.00|738,086,844.00|23,127,746,242.00|23,467,032,204.00|

 (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 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 2017 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: Huang Zhenhai
August 31, 2017