Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 Stockcode：000539、200539 StockAbbreviation：Yue Dian Li ,Yue Dian Li B Bondcode：112162.SZ Bond shortname：12 Yudean Bond GUANGDONG ELECTRIC POWER DEVELOPMENT CO., LTD. The Semi-annual Report 2016
August 2016
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 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. All the directors attended the board meeting for reviewing the Semi-annual Report except the follows:
|||||
|-|-|-|-|
|The name of director who did|||The name of director who was|
||Positions|Reason||
|not attend the meeting in person|||authorized|
|Li Zhuoxian|Board Chairman|due to business|Hong Rongkun|
|Zhong Weimin|Director|due to business|Hong Rongkun|
|Gao Shiqiang|Director|due to business|Kong Huitian|
|Li Mingliang|Director|due to business|Yang Xinli|
|Zhang Xueqiu|Director|due to business|Liu Tao|
|Mao Fugen|Independent Director|due to business|Shen Hongtao|

The Company Will not distribute cash dividend or bonus shares, neither capitalizing of common reserves for the report period.
Mr.Li Zhuoxian, 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.
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.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 Table of Contents
2016 Semi- Annual Report
I.Important Notice, Table of contents and Definitions
II. Basic Information of the Company
III. Summary of Accounting Data and Financial Indicators
IV. Report of the Board of Directors
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. Financial Report
X. Documents available for inspection
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 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||
|Yuejia Company||Guangdong Yuejia 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||
|Shibeishan Wind Power Company||Guangdong Shibeishan Wind Power Development 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||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
||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||
||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||YunNan Energy Inverstment WeiXin 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 2016 II. Basic Information of the Company
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|Li Zhuoxian|||

2. Contact person and contact manner
||||
|-|-|-|
||Board secretary|Securities affairs Representative|
|Name|Liu Wei|Zhang Shaomin|
||26/F, South Tower, Yudean Plaza, No.2|26/F, South Tower, Yudean Plaza, No.2|
|Contact address|Tianhe Road East, Guangzhou,Guangdong|Tianhe Road East, Guangzhou,Guangdong|
||Province|Province|
|Tel|（020）87570276|（020）87570251|
|Fax|（020）85138084|（020）85138084|
|E-mail|liuw@ged.com.cn|zhangsm@ged.com.cn|

3. Other
1. Way of contact
Whether registrations address, offices address and codes as well as website and email of the Company changed in reporting period or not
□ Applicable√ Not applicable
Registrations address, offices address and codes as well as website and email of the Company has no change in reporting period, found nore details in annual report 2015.
2. In formation disclosure and preparation place
Whether information disclosure and preparation place changed in reporting period or not
□ Applicable√ Not applicable
The newspaper appointed for information disclosure, website for semi-annual report publish appointed by CSRC and preparation place for semi-annual report have no change in reporting period, found more details in annual
report 2015.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 3.Registration changes of the Company
Whether registration has changed in reporting period or not
√Applicable□ Not applicable
|||||||
|-|-|-|-|-|-|
||||||Organization|
||Registration date|Registration place|Business license No.|Tax registration No.||
||||||Code|
|||23,25 and 26/F,||||
|||South Tower,||||
|||Yudean Plaza,||||
|Registration at the||||||
||June 16,2015|No.2 Tianhe|440000400015088|440102617419493|61741949-3|
|beginning of the period||||||
|||Road East,||||
|||Guangzhou,Guang||||
|||dong Province||||
|||23,25 and 26/F,||||
|||South Tower,||||
|||Yudean Plaza,|Unified social credit|||
|Registration at the end||||||
||May 20,2016|No.2 Tianhe|code:91440000617419|None|None|
|of the period||||||
|||Road East,|493W|||
|||Guangzhou,Guang||||
|||dong Province||||
|Temporary||||||
|announcement to||||||
|disclose the date of the||||||
|specified website（If||||||
|any）||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 III. Summary of Accounting Highlights and Business Highlights
I.Summary of accounting /Financial Data
May the Company make retroactive adjustment or restatement of the accounting data of the previous years due to change of the accounting policy and correction of accounting errors.
□Yes√ No
|||||
|-|-|-|-|
||Reporting period|Same period of last year|YoY+/-（%）|
|Operating income（RMB）|10,234,989,566.00|12,911,553,232.00|-20.73%|
|Net profit attributable to the shareholders|738,374,784.00|1,720,995,015.00||
||||-57.10%|
|of the listed company（RMB）||||
|Net profit after deducting of non-recurring||||
|gain/loss attributable to the shareholders of|743,501,966.00|1,516,376,522.00|-50.97%|
|listed company（RMB）||||
|Cash flow generated by business operation,|4,696,500,182.00|5,702,180,434.00||
||||-17.64%|
|net（RMB）||||
|Basic earning per share(RMB/Share)|0.14|0.33|-57.58%|
|Diluted gains per|0.14|0.33||
||||-57.58%|
|share(RMB/Share)(RMB/Share)||||
|Weighted average ROE(%)|3.09%|7.74%|-4.65%|
||As at the end of the|||
|||As at the end of last year|YoY+/-（%）|
||reporting period|||
|Total assets（RMB）|72,041,344,364.00|71,919,934,143.00|0.17%|
|Net assets attrilutable to shareholder of|23,178,127,713.00|23,754,596,981.00||
||||-2.43%|
|listed company（RMB）||||

II.The differences between domestic and international accounting standards
1．Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed in the financial reports of differences in net income and net assets.
√Applicable□ Not applicable
In RMB
||||||
|-|-|-|-|-|
||Net profit attributable to the shareholders of the||Net Assets attributable to the shareholders of||
||listed company||the listed company||
||Amount in the|Amount in the previous|End of the reporting|Beginning of the|
||reporting period|period|period|reporting period|
|According to CAS|738,374,784.00|1,720,995,015.00|23,178,127,713.00|23,754,596,981.00|
|Items and amount adjusted according to IAS|||||
|The difference arising from|||64,623,000.00|64,623,000.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||
|-|-|-|-|-|
|recognition of goodwill after|||||
|merger of enterprises under|||||
|the same control|||||
|Difference arising from|||||
|recognition of land use value|||19,175,000.00|19,490,000.00|
|after enterprise merger|||||
|Influence on minority interests|27,060.00|54,120.00|4,674,919.00|4,647,859.00|
|Accouding to IAS|738,086,844.00|1,720,734,135.00|23,266,600,632.00|23,843,357,840.00|

 2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards.
□ Applicable√Not applicable
No Differences
3.Note to the Difference in the Accounting Data based on the Accounting Standards of CAS and IAS.
√ Applicable□ Not applicable
A. Land use right amortization
The difference formed by different period of land use right amortization.
B.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.
C. Influence on minority interests
Housing reform loss occurred to the Company and some holding subsidiaries. Therefore,there’s some influence on minority interests.
IIIItems 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|-40,159.00||
|for which assets impairment provision is made)|||
|Govemment subsidy recognized in currentgain and loss(excluding|4,330,234.00||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|those closely related to the Company’s business and granted|||
|under the state’s policies)|||
|Other non-business income and expenditures other than the above|-12,414,760.00||
|Less: Influenced amount of income tax|932,677.00||
|Amount of influence of minority interests（After tax）|-3,930,180.00||
|Total|-5,127,182.00|--|

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/itesm 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 2016 IV. Report of the Board of Directors
I. General
During the reporting period, The electricity consumption of the Province is 256.384 billion kwh, which increased by4.2% year on year. Picked up year-on-year increase..Thepower West region increased by1.59% year onyear， and had supplied additional power 8.42 billion kwh beyond the originalplan，where nuclear power was increased by39.5% year on year, more rain than past years led topower increased84.19%year-on-year，Coal-fired units in the province is being squeezed from further. Affected by the abovefactors，During the reporting period, the units utilization hours,Its on-grid electricity volume was 27.012billion kwh, which decreased by15.08% year on year, Its on-grid electricity volume was 25.471billion kwh, which decreased by14.97% year on year,40.57% of the power generation plan for the year was fulfilled.
During the reporting period, deeply impacted by the weak power demand and more intensifying market competition, thecompany’s electricity power declined significantly. Meanwhile, China again downed the on-grid power price that has been put into force since Jan 1, 2016, which rendered the profits of thecompany’s power generation business sharply declined, as well as resulted in a big decline of the investment yield to the joint operating company.
In the reporting period, our total generation reached 10.235 billion kwh, which decreased by20.73% year on year;
||
|-|
|During the reporting period, the company achieve consolidated caliber business income is 10.235 billion|
|yuan,which decreased by 20.73% year on year|

 shareholders,which decreased by57.1% year onyear；Earnings per share of 0.14 yuan.
During the reporting period, in the face of unprecedented pressure on the operation, the company took the initiative to adjust the management strategy, actively participated in the price bidding of “market power”, as it turned out the company totally obtained 1.51 billion kwh by bidding which accounted for26.2% of the total provincial “market electricity”. The company continued to raise the level of fuel management, and by reasonably admix-burning, the fuel costs to unit power declined13.23% year-on-year. The company strived to realize the breakthrough at the power-sales aspect and the clean energy aspect, in particular, the company used its own funds to set up the electricity-sales company acting for consumers to acquire 777 million kwh in bidding that accounted for13.47% of the total provincial “market electricity”, realized the profits of RMB 95 million; the electricity quantity and the profit level of Huizhou Natural Gas Company, Shenzhen Guangqian Company and Guangdong Wind Power Company both grew year-on-year despite in a down-turn market, gradually showing the effect of structural adjustment.
During the reporting period, the company actively promoted the construction and development of new projects. The#2 power unit of Dapu project of “developing large units and suppressing small ones” controlled by the company was put into operation in June and the Dianbai Reshui wind power project had passed the trial use of 250 hours in April and then was put into commercial operation, which newly increased a total of production capacity of 649.5 MW of controllable power units. The company continued to expand in the clean energy sector, in particular a newly added project of natural gas thermoelectricity cogeneration of controllable power units was approved and 4 controllable wind power projects having a total of 198 MW were approved.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 II. Analsis on principal Business
Y-o-Y changes of main financial data
In RMB
||||||
|-|-|-|-|-|
||||Y-o-y increase/decrease||
||Current period|Same period of last year||Reasons for changes|
||||（%）||
|Operration revenue|10,234,989,566.00|12,911,553,232.00|-20.73%||
|Operation cost|7,767,910,229.00|9,181,722,019.00|-15.40%||
|Sales expenses|736,468.00|821,137.00|-10.31%||
|Administrative expenses|348,730,393.00|374,363,287.00|-6.85%||
|Financial cost|701,972,431.00|812,265,280.00|-13.58%||
|Income tax expense|415,482,070.00|578,388,722.00|-28.17%||
|Net cash flow arising|4,696,500,182.00|5,702,180,434.00|||
||||-17.64%||
|from operation activities|||||
|Net cash flow arising|-1,373,180,461.00|-1,834,715,211.00|||
|from investment|||-25.16%||
|activities|||||
|Net cash flow arising|-2,442,565,613.00|-1,885,042,105.00|||
||||29.58%||
|from financing activities|||||
||880,754,108.00|1,982,423,118.00||Mainly because this|
|||||Mainly because this|
|Net increase of cash|||||
||||-55.57%|borrow money received|
|andcash equivalent|||||
|||||less cash|

Major changes on profit composition or profit resources in reporting period
□ Applicable√ Not applicable
No major changes on profit composition or profit resources occurred in reporting period.
The future development and planning extended to reporting period that published in disclosure documents as prospectus, private placing memorandum and recapitalize statement.
□ Applicable√ Not applicable
No future development and planning extended to peporting period that published in disclosure documents as prospectus, private placing memorandum and recapitalize statement.
Review on the previous business plan and its progress during reporting period.
(1) In the report period, the Company completed power output of 27.012 billion kwh in terms of consolidated statements, which decreased by15.08% year on year. The actual on-grid electricity volume was 25.471 billion kwh, which decreasedby14.97% year on year and accounted for40.45% of the planned on-grid electricity volume for the year.
(2)In the report period, the company achieve consolidated caliber business income is 10.235 billion yuan, Completed40.84% of the annual budget targets.
（2）In the report period, the Company actually completed external investment of RMB 409.5 million, which
accounts for445.91% of the planned amount of external investment for the year.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 III. Constitution of main business
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||Increase|Increase||
|||||||Increase /decrease|
||||Gross Profit|/decrease of|/decrease of||
||Operating Income|Operating cost||||of Gross profit|
||||Ratio(%)|operating income|operating cost||
|||||||ratio（％）|
|||||（％）|（％）||
|On Industry|||||||
|Electric Power|10,234,989,566.00|7,767,910,229.00|24.10%|-20.73%|-15.40%|-4.79%|
|Products|||||||
|Electric Power|10,234,989,566.00|7,767,910,229.00|24.10%|-20.73%|-15.40%|-4.79%|
|Area|||||||
|Guangdong|10,160,496,393.00|7,747,730,987.00|23.75%|-20.78%|-15.43%|-16.87%|
|Yunnan|9,009,508.00|6,687,646.00|25.77%|106.78%|73.15%|127.01%|

 IV. Core competitive-ness analsis
1. A regional power generation company with staged leaping-forward development on the installed capacity At present, thecompany’s assets of power generation are mainly located in Guangdong area. Since thecompany’s major asset restructuring in 2012, the installed capacity for power generation has been increased rapidly. As of the end of the reporting period, thecompany’s controllable installed capacity which has been put into operation is 20,340 MW.
2. The company has been positioned by Yudean Group as the sole listed platform for the domestic power generation assets.
Yudean Group, thecompany’s controlling shareholder and the biggest power generation group in Southern China area, used its advantages in respect of resources and asset scale to actively support thecompany’s development and expansion. The company has been positioned by Yudean Group as the sole listed platform for the integration of the domestic power generation assets and Yudean Group granted the company priority options to the development and asset purchase of the domestic power projects. Yudean Group committed that within 5 years commenced from the completion of the last major asset restructuring, those assets after adjustment that are suitable for the conditions of being listed shall gradually been injected into the company by the means such as purchase and restructuring, thus the company shall realize another leaping-forward growth on the installed capacity again.
3. Having advanced power units with high-performance and benefited from the enforcement of energy-saving scheduling policy
Thecompany’s power units have high parameter, large capacity, high efficiency, low coal consumption, stable operation and superior environmental performance, which enabled the company to have stronger competitive
advantages in terms of the thermal power units as which belong to the priority sequences to be scheduled for
on-grid electricity in respect of the enforcement of energy-saving scheduling policy.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 4. Gradually optimized the industrial structure and power structure
While vigorously developing the large capacity and environmental-protection thermal power projects, the company put forward the optimization and adjustment of industrial structure and power structure strategy. With continuously making progress on the acquisition and construction of clean energy projects, thecompany’s industrial structure and power structure have been gradually optimized. In the field of wind power, the company, in recent years, purchased or constructed Yangqian wind power farm, Yongshi wind power farm, Shibeishan wind power farm, Haiwanshi wind power farm, etc which all were being controlled by the company. As of the end of the reporting period, the company has put into operation of a total of 261.7MW of wind power projects, with a total of 544.5 MW of approved and/or under-construction wind power projects.
In the hydropower field, the company purchased and controlled Lincang Company in 2015, which was a breakthrough in share-controlling of a hydropower project realized by the company.
5. Having rich management experience and high production technology level
The management and the technical backbone of the company have wealthy experiences in the operation and management of power plants, as well as the major personnel have many years of practical experiences in the power industry. Through improving the management level, increasing the intensity of management and focusing on implementation of the work of saving energy and reducing consumption by the company, the coal consumption for the thermal power units decreased year by year.
6. Seizing the opportunity brought by “Electricity Reform” and exploring new business fields
In July 2015, the company set up a wholly owned electric power sales company to participate in the market competition on the electricity-sales side, enjoying the dividends of “Electricity Reform” and nurturing new profit growth point. During the reporting period, the electric power sales company acting for users acquired 777 million kwh in the competition, realized a profit of RMB 95 million.
V. Analysis on investment status
1. External Equity investment
（1）External investment
√ Applicable□ Not applicable
||||
|-|-|-|
|External investment|||
||Investment of same period of last year||
|Investment of the period (RMB)||Scale of change|
||(RMB)||
|409,500,000.00|1,249,800,000.00|-67.23%|
|Particulars of the invested company|||
|Name of companies|Main Business|Share of equity in invested entity|
|Guangdong Yudean Bohe Coal-fired Power|||
||Thermal power generation, logistics|100.00%|
|Co., Ltd|||
|Guangdong Huadu Natural GasT Thermal|Combined heat and power generation of||
|||65.00%|
|Power Co., Ltd.|natural gas||
|Guangdong Yudean Yongan Natural Gas|Combined heat and power generation of|90.00%|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||
|-|-|
|Thermal Power Co., Ltd.|natural gas|

（2）Holding of the equity in financial enterprises
√ Applicable□Not applicable
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||||Number of|Shareholdi|||||||
||||||Number of|Shareholdi|Book||||
||||shares held|ng|||||||
||||||shares held|ng|balance at|Gain/..loss|||
|||Initial|at the|proportion|||||||
||||||at the end|proportion|the end of|of the|||
|Company|Company|Investment|beginning|at the|||||Accountin|Sauce of|
||||||of the|at the end|the|reporting|||
|Name|type|cost|of the|beginning|||||g items|the shares|
||||||reporting|of the|reporting|period|||
|||(RMB)|reporting|of the|||||||
||||||period(sha|reporting|period|(RMB)|||
||||period|reporting|||||||
||||||res)|period(%)|(RMB)||||
||||(shares)|period (%)|||||||
|Sun|||||||||Financial||
|Insurance|Insurance|356,000,00|350,000,00||350,000,00||356,000,00||assets avai||
|||||5.22%||3.38%||0.00||Initiated|
|Group Co.,|Company|0.00|0||0||0.00||lable for s||
|Ltd.|||||||||ale||
|Guangdon|||||||||||
||||||||||Long-term||
|g Yudean||513,325,00|500,000,00||500,000,00||654,416,16|43,593,656|||
||Other|||25.00%||25.00%|||Equity|Initiated|
|Finance||0.00|0||0||8.00|.00|||
||||||||||investment||
|Co., Ltd.|||||||||||
|||869,325,00|850,000,00||850,000,00||1,010,416,|43,593,656|||
|Total||||--||--|||--|--|
|||0.00|0||0||168.00|.00|||

（3）Investment in Securities
□ Applicable√ Not applicable
The Company had no investment in securities in period.
（4）Explanation on equity of other listed company held
√ Applicable□Not applicable
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||Stock|||Shareho||Sharehol|||||
|||Abbbbrev|||lding||ding|||||
|||||Number of||Number of||||||
|||iation|||proporti||proportio|||||
|||||shares held||shares held|||Gain/..loss||Sauc|
|Securit||||||||Book balance||||
||||Initial|at the|on at|at the end|n at the||of the||e of|
|y|Security||||the||end of|at the end of||Accounting||
||||Investment cost|beginning of||of the|||reporting||the|
|catego|code||||beginni||the|the reporting||items||
||||(RMB)|the reporting||reporting|||period||share|
|ry|||||ng of||reporting|period (RMB)||||
|||||period||period(shar|||(RMB)||s|
||||||the||period(%|||||
|||||(shares)||es)||||||
||||||reportin||)|||||
||||||g period|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||||||(%)|||||||
|Stock|000027|Shen|15,890,628.00|12,600,000|0.32%|12,600,000|0.32%|80,388,000.00|2,520,000|Financial|Issue|
|||Energy||||||||assets|obtai|
|||||||||||available|n|
|||||||||||for sales||
|Stock|600642|Shenergy|235,837,988.00|55,532,250|1.22%|55,532,250|1.22%|318,755,115.0|0.00|Financial|Trans|
|||||||||0||assets|feree|
|||||||||||available||
|||||||||||for sales||
|Stock|831039|NEEQ|3,600,000.00|1,800,000|1.29%|1,800,000|1.29%|8,982,000.00|0.00|Financial|Initia|
|||||||||||assets|ted|
|||||||||||available||
|||||||||||for sales||

 2.Entrusted Financing , investment in derivative products and entrusted loan
（1）Trust financing
□ Applicable√ Not applicable
The company had no trust financing in the reporting period.
（2）Derivative investment
□ Applicable√ Not applicable
The company had no derivative investment in the reporting period.
(3) Trusted loans
□ Applicable√ Not applicable
No trusted loans in the report period.
3. Using of proceeds from share placing.
□ Applicable√ Not applicable
No using of capital from public financing in the report period.
4. Main subsidiaries and stock-jointly company analysis
√ Applicable□ Not applicable
Particulars about the principal subsidiaries and Mutual shareholding companies
In RMB
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Company type|Sector|Leading|||||Operating||
|||||Registered|Total|Net assets|Tumover||Net Profit|
|Company Name||s|products and|||||profit||
|||||capital|assets(RMB)|(RMB)|(RMB)||(RMB)|
|||engag|services|||||(RMB)||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||ed in||||||||
|GuangdongYude|||Power|||||||
|an Jinghai||Electr|generation|||||||
||Subsidia||||10,276,281,91|3,605,786,8|1,855,102,2|391,463,61|280,025,789|
|Power||ic|and power|2,919,272,000||||||
||ry||||9.00|87.00|89.00|3.00|.00|
|Generation Co.,||Power|station|||||||
|Ltd.|||construction.|||||||
|GuangdongHuiz|||Power|||||||
|hou Pinghai||Electr|generation|||||||
||Subsidia||||6,220,498,064|1,981,996,0|1,042,582,6|261,357,74|196,820,980|
|Power||ic|and power|1,370,000,000||||||
||ry||||.00|06.00|25.00|0.00|.00|
|Generation Co.,||Power|station|||||||
|Ltd.|||construction.|||||||
||||Power|||||||
|Guangdong Red||||||||||
|||Electr|generation|||||||
|Bay Power|Subsidia||||8,046,766,585|3,250,646,4|1,452,772,3|250,110,83|183,146,966|
|||ic|and power|2,749,750,000||||||
|Generation Co.,|ry||||.00|96.00|99.00|0.00|.00|
|||Power|station|||||||
|Ltd.||||||||||
||||construction.|||||||
||||Power|||||||
|ZhangjiangElectr||Electr|generation|||||||
||Subsidia||||4,369,982,142|4,008,590,0|694,710,52|140,933,46|100,773,692|
|ic Power Co.,||ic|and power|2,875,440,000||||||
||ry||||.00|53.00|1.00|4.00|.00|
|Ltd.||Power|station|||||||
||||construction.|||||||
||||Power|||||||
|GuangdongHuiz||Electr|generation|||||||
||Subsidia||||2,461,891,032|1,283,728,1|806,611,90|134,586,49|99,654,365.|
|hou natural Gas||ic|and power|963,000,000||||||
||ry||||.00|81.00|6.00|0.00|00|
|Power Co., Ltd.||Power|station|||||||
||||construction.|||||||
|Guangdong||||||||||
|||Electr||||||||
|Yudean Electric|Subsidia||Electricity||358,737,931.0|325,152,45|128,597,98|127,201,78|95,447,915.|
|||ic||230,000,000||||||
|Power Sales Co.,|ry||sales||0|9.00|1.00|2.00|00|
|||Power||||||||
|Ltd.||||||||||
||||Power|||||||
|Shenzhen||||||||||
|||Electr|generation|||||||
|Guangqian|Subsidia||||2,410,120,804|1,350,171,2|699,608,37|123,755,81|92,853,681.|
|||ic|and power|1,030,292,500||||||
|Electric Power|ry||||.00|27.00|0.00|0.00|00|
|||Power|station|||||||
|Co., Ltd.||||||||||
||||construction.|||||||
||||Guangdong|||Wind||||
|Guangdong|||Guohua|||Power||||
|Guohua Yudean|Sharing|Electr|Yudean|||generation||||
|||||Sharing|Electric||2,706,581,6|780,686,43|584,920,161|
|Taishan Power|Compan|ic|Taishan|||and power||||
|||||Company|Power||71.00|2.00|.00|
|Generation Co.,|y|Power|Power|||station||||
|Ltd.|||Generation|||constructio||||
||||Co., Ltd.|||n.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 5. Projects invested with Funds not raised through share offering
□Applicable√ Not applicable
N/A
VI. Prediction of business performance for January -September 2016.
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
VII. Explanation by the Board of Directors and the Supervisory Committee about the “ non-standard audit report” issued by the CPAs firm for the reporting period.
□ Applicable√ Not applicable
VIII.Explanation by the Board of Directors about the “ non-standard audit report “ for lastyear.
□ Applicable√ Not applicable
IX. Profit distribution carried out in the report period
Execution or adjustment of profit distribution, especially cash dividend, and capitalizing of reserves in the report period.
√Applicable□ Not applicable
The Company's profit distribution plan for 2015 was examined and adopted by its 201 annual shareholders' general meeting on May 20, 2016. The Company published Announcement of Interest Distribution for 2015 on designated media on June 22, 2016. The stock right registration date is June 27, 2016 (June 30 for B shares). The ex-dividend date is June 28, 2015. Cash dividends were distributed on June 28 (for A shares) and June 30 (for B shares).
|||
|-|-|
|Special explanation of the cash dividend policy||
|Whether conformed with the regulations of the Articles of||
|association or the requirements of the resolutions of the|Yes|
|shareholders’ meeting:||
|Whether the dividend standard and the proportion were definite||
||Yes|
|and clear:||
|Whether the relevant decision-making process and the system||
||Yes|
|were complete:||
|Whether the independent director acted dutifully and exerted the||
||Yes|
|proper function:||
|Whether the medium and small shareholders had the chances to||
||Yes|
|fully express their suggestions and appeals, of which their legal||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||
|-|-|
|interest had gained fully protection:||
|Whether the conditions and the process met the regulations and||
|was transparent of the adjustment or altered of the cash dividend|Not a;pplicable|
|policy:||

X. Preplan for profit distribution and turning capital reserve into share capital in the reporting period
□ Applicable√ Not applicable
The Company planed that no to distribute cash dividend, bonus shares and there was no turning of capital reserve into share capital.
XI. Particulars about researches, visits and interviews received in this reporting period
√Applicable□ Not applicable
|||||||
|-|-|-|-|-|-|
||||||Discussion topics and|
|Reception time|Reception place|Way of reception|Types of visitors|Visitors received||
||||||provision of materials|
|||||Changjiang||
||||||The Company’s current|
|||||Securities,||
||||||production of operation|
||Office of the|Onsite||Guangdong||
|March 4,2016|||Organiation||conditions and the situation|
||Company|investigation||Hanming Assets||
||||||of the construction and|
|||||Management Co.,||
||||||development projects|
|||||Ltd.||
||||||The Company’s current|
||||||production of operation|
||Office of the|Onsite||Joint research of||
|June 13,2016|||Organiation||conditions and the situation|
||Company|investigation||GF Securities||
||||||of the construction and|
||||||development projects|
||||||The Company’s current|
||||||production of operation|
||Office of the|Onsite||Changyang||
|June 28,2016|||Organiation||conditions and the situation|
||Company|investigation||Investment||
||||||of the construction and|
||||||development projects|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 V. Important Events
1.Governance of the Company
The company has strictly abided by the requirements of the laws and regulations and the normative documents, such as “Corporate Law”, “Securities Law”, “Governance Rules of Listed Companies” and “Listing Rules of Shenzhen Stock Exchange” to standardize the operations, continuously perfect the internal control system and the corporate governance structure, ensure the system carried out and effectively implemented and improve the governance level of the company. There was no difference between the actual conditions of corporate governance and the requirements of the Company Law and relevant regulations of CSRC.
II. Lawsuits affairs
Major lawsuits and Arbitration affairs
□ Applicable√ Not applicable
The Company has no major lawsuit or arbitration in the report period.
Other Lawsuits affairs
□ Applicable√ Not applicable
III. Query form media
□ Applicable√ Not applicable
In the reporting year, the Company had no query from media
IV. Bankruptcy or Reorganization Events
□ Applicable√ Not applicable
There Company was not involved in any bankruptcy or reorganization events in the reporting period.
IV. Bankruptcy and reconstruction
□ Applicable√ Not applicable
No bankruptcy or capital reorganizing issues occurred in the report period.
V. Transaction in Assets
1. Purchase of assets
□ Applicable√ Not applicable
There is no purchase of assets in the Company during the reporting period.
2. Sale of assets
□ Applicable√ Not applicable
There is no sale of assets in the Company during the reporting period
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 3. Business combination
□ Applicable√ Not applicable
There is no Bubiness combination in the Company during the reporting period
VI. Implementation and Influence of Equity Incentive Plan of the Company
□ Applicable√ Not applicable
There is no equity incentive plan and its implementation in the Company during the reporting period.
VII. Significant related-party transactions
1. Related-party transactions concerning routine operation
√Applicable□Not applicable
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||||Wheth|||||
||||||||||er|||||
|||||||||Tradin||||||
||||||||||over|||||
|||||||||g limit||||||
||||||||||the||Marke|||
||||Subject|||Amo||appro|||t price|||
|||||||unt|Ratio||appro|Way||Date||
||Relati|Type|s of the|Principle of pricing|||||||of||Index of|
|Related|||||Price of|of|in|ved||of||of||
||onshi|of|related|the related|||||||simila||information|
|parties|||||trade|trade|similar||ved|paym||disclo||
||p|trade|transact|transactions|||||||r trade||disclosure|
|||||||RMB|trades|（RM||ent||sure||
||||ions||||||||availa|||
|||||||0’000|||limite|||||
|||||||||B’000|||ble|||
||||||||||d or|||||
|||||||||0）||||||
||||||||||not|||||
||||||||||(Y/N)|||||
|Guang|||Fuel|For the price of fuel|||||||||Name of|
|dong|||materia|purchase, if the state|||||||||Announcement|
|Yudean|||ls|sets a price, such|||||||||: Announcement|
|Group|||procure|price shall apply. If|||||||||of Resolutions|
|Co., Ltd|||ment,|the State does not set|||||||||of the 11st|
|and its|||receivi|a price, market price|||||||||Meeting of the|
|subsidi|||ng|shall apply. The|||||||||Eighth Board of|
|aries|||labor|related parties|||||||||Director|
|and||Daily|service|promised that the|Not||Not||||Not|April|（2016-12），|
|affiliate|shareh|related|s,|price offered would|applicable|304,3|applica|1,004,|No|Cash|applic|30,2|And|
|s|older|transac|leasing,|not be higher than the||19||374|||||Announcement|
||||||||ble||||able|016||
|(affiliate||tions|providi|price of products of|||||||||of daily related|
|d|||ng|the same quality|||||||||transaction(201|
|parties|||labor|offered to third|||||||||6-14)|
|accordi|||service|parties. The price of|||||||||Published i|
|ng to|||s/servic|materials shall be|||||||||n|
|the|||es,|settled according to|||||||||China|
|shenzh|||selling|market price. Labor|||||||||Securities|
|en|||goods,|services/services are|||||||||Daily,|
|stock|||public|accepted and|||||||||Securities|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|exchan|expens|provided at the price|||||||||Times and|
|ge|es|agreed by both|||||||||http//.www.cnin|
|"stock||parties according to|||||||||fo.com.cn|
|listing||cost price and by||||||||||
|rules")||reference to the||||||||||
|||market price of||||||||||
|||similar services.||||||||||
|||Products are sold at||||||||||
|||the price agreed by||||||||||
|||both parties||||||||||
|||according to cost and||||||||||
|||by reference to the||||||||||
|||market price of||||||||||
|||similar products.||||||||||
|||Relevant regulations||||||||||
|||of People's Bank of||||||||||
|||China apply to||||||||||
|||deposits. Site rent is||||||||||
|||collected in the mode||||||||||
|||agreed by all parties||||||||||
|||based on cost price.||||||||||
|||||304,3||1,004,||||||
|Total||--|--||--||--|--|--|--|--|
|||||19||374||||||
|Details of any sales return of a||||||||||||
|||Not applicable||||||||||
|large amount||||||||||||
|Give the actual situation in the||||||||||||
|report period where a forecast||||||||||||
|had been made for the total||In January –June 2016,Daily related transactions were carried out after examination and approval by||||||||||
|amounts of routine related-party||2015 annual shareholders’general meeting. Refer to (5) related transactions of XII.||||||||||
|transactions by type to occur in||||||||||||
|the current period(if any)||||||||||||
|Reason for any significant||||||||||||
|difference between the||||||||||||
|||Not applicable||||||||||
|transaction price and the market||||||||||||
|refernce price (if applicable)||||||||||||

2. Related-party transactions arising from asset acquisition or sale
□ Applicable√ Not applicable
The Company was not involved in any related-party transactions arising from asset acquisition or sale during the reporting period.
3. Related-party transitions with joint investments
□ Applicable√ Not applicable
The Company was not involved in any related-party transaction with joint investments during the reporting
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 period.
4. Credits and liabilities with related parties
□ Applicable√ Not applicable
There is no any credit and liability with related parties of the Company of the reporting period.
5. Other significant related-party transactions
□ Applicable√ Not applicable
The Company was not Other significant related-party transactions during the reporting period.
VIII. 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..
IX. Particulars about significant contracts and their fulfillment
1. Particulars about trusteeship, contract and lease
(1) Trusteeship
□ Applicable√ Not applicable
There was no any trusteeship of the Company in the reporting period.
(2) Contract
□ Applicable√ Not applicable
There was no any contract of the Company in the reporting period.
(3) Lease
□ Applicable√ Not applicable
There was not involved in ant lease of the Company in the reporting period.
2. Guarantees provided by the company
√ Applicable□ Not applicable
InRMB’0000
||||||||||
|-|-|-|-|-|-|-|-|-|
|External Guarantee (Exclude controlled subsidiaries)|||||||||
|||||||||Guarante|
||Relevant||Date of||||||
||||||||Complete|e|
||disclosure||happening|Actual|||||
|Name of the||Amount of|||Guarantee|Guarantee|implemen|for|
||date/No. of||(Date of|mount of|||||
|Company||Guarantee|||type|term|tation|associate|
||the||signing|guarantee|||||
||||||||or not|d|
||guaranteed||agreement)||||||
|||||||||parties|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||||
|-|-|-|-|-|-|-|-|-|
||amount|||||||(Yes or|
|||||||||no)|
|||||||The power pl|||
|Weixin Yuntou|||||Guaranteeing|ant put into o|||
||March 8,||||||||
|Yudean Zhaxi||27,400|April 11, 2013|11,400|of joint|peration and t|No|No|
||2012||||||||
|Energy Co., Ltd.|||||liabilities.|erminated aft|||
|||||||er two years|||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteeing||||
||May 24,2||December||||||
|Hydroelectricity||4,350||2,900|of joint|15 years|No|No|
||007||19,2007||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteeing||||
||December||December||||||
|Hydroelectricity||4,350||1,450|of joint|15 years|No|No|
||19,2007||25,2007||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteeing||||
||December||||||||
|Hydroelectricity||12,000|March 18,2008|9,900|of joint|18 years|No|No|
||19,2007||||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteeing||||
||August 22,||||||||
|Hydroelectricity||5,800|October 31,2008|4,300|of joint|17 years|No|No|
||2008||||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteeing||||
||November||November||||||
|Hydroelectricity||7,250||1,682|of joint|10 years|No|No|
||12,2008||14,2008||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteeing||||
||MAY||||||||
|Hydroelectricity||7,250|May 27,2009|3,625|of joint|12 years|No|No|
||27,2009||||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteeing||||
||May||||||||
|Hydroelectricity||9,367|June 22, 2009|7,047|of joint|18 years|No|No|
||27,2009||||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||||
|-|-|-|-|-|-|-|-|-|
|Total amount of approved||||Total actually amount of|||||
|external guarantee in the report||0||external guarantee in the||-8,857|||
|period(A1)||||report period(A2)|||||
|Total amount of approved||||Total actually amount of|||||
|external guarantee at the end of||190,835||external guarantee at the end||42,304|||
|the report period(A3)||||of the report period(A4)|||||
|Guarantee of the company for its subsidiaries|||||||||
|||||||||Guarante|
||Related||Date of||||Complete||
|Name of the||||Actually||||e for|
||announcem|Amount of|happening(date||Guarantee|Guarantee|implemen||
|company||||guarantee||||related|
||ent date and|guarantee|of signing||type|term|tation or||
|guaranteed||||amount||||party(yes|
||no.||agreement)||||not||
|||||||||or no)|
|Guangdong|||||||||
||||||Guaranteeing||||
|Yudean Zhanjiang|April||||||||
|||18,571.7|October 9,2010|18,571.7|of joint|18 years|No|No|
|Wind Power Co.,|29,2009||||||||
||||||liabilities.||||
|Ltd|||||||||
|Guangdong|||||||||
||||||Guaranteeing||||
|Shaoguan Yuejiang|November||||||||
|||23,400|July 3, 2014|14,760|of joint|5 years|No|No|
|Power Generation|16,2013||||||||
||||||liabilities.||||
|Co., Ltd.|||||||||
|||||Total amount of actual|||||
|Total amount of approving|||||||||
|||||occurred guarantee for|||||
|guarantee for subsidiaries in||0||||-6,587.07|||
|||||subsidiaries in reportperiod|||||
|report period（B1）|||||||||
|||||（B2）|||||
|||||Total amount of actual|||||
|Total amount of approved|||||||||
|||||occurred guarantee for|||||
|guarantee for subsidiaries at the||141,536||||33,331.7|||
|||||subsidiaries at the end of|||||
|end of reporting period（B3）|||||||||
|||||reporting period（B4）|||||
|Guarantee of the subsidiaries for its subsidiaries|||||||||
|||||||||Guarante|
||Related||Date of||||Complete||
|Name of the||||Actually||||e for|
||announcem|Amount of|happening(date||Guarantee|Guarantee|implemen||
|company||||guarantee||||related|
||ent date and|guarantee|of signing||type|term|tation or||
|guaranteed||||amount||||party(yes|
||no.||agreement)||||not||
|||||||||or no)|
|Total of Company’s guarantee（namely total of the large three aforementioned）|||||||||
|Total of guarantee in the Period||0||Total of actual guarantee in|||||
|||||||-15,444.07|||
|（A1+B1+C1）||||the Period（A2+B2+C2）|||||
|||332,371||Total of actual guarantee at|||||
|Total of guarantee at Period-end|||||||||
|||||Period-end||75,635.7|||
|（A3+B3+C3）|||||||||
|||||（A4+B4+C4）|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||
|-|-|
|The proportion of the total amount of actually guarantee in the||
||3.26%|
|net assets of the Company(that is A4+B4+C4)||
|Including||
|Explanations about joint and several liability for repayment in||
||Not applicable|
|respect of undue guarantee(if any)||
|Explanation about external guarantee violating established||
||Not applicable|
|procedure if any）||

Description of the guarantee with complex method
(1) Particulars about illegal external guarantee
□ Applicable√ Not applicable
There was no particular about illegal external guarantee of the Company in the reporting period.
3. Other significant contracts
□ Applicable√ Not applicable
There was no other significant contract of the Company in the reporting period.
4. Other significant transactions
□ Applicable√ Not applicable
There was no other significant transaction of the Company in the reporting period.
X. Implementation of commitments
1.Commitments made by the Company or shareholders holding over5% of theCompany’s shares in the reporting period or such commitments carried down into the reporting period
√Applicable□ Not applicable
|||||||
|-|-|-|-|-|-|
||||Time of|||
||Commitment||making|Period of||
|Commitment||Contents|||Fulfillment|
||maker||commitmen|commitment||
||||t|||
|Commitment on share||||||
|reform||||||
|Commitment in the||||||
|acquisition report or the||||||
|report on equity||||||
|changes||||||
|||Yue Dian Li is the only quoted platform|November|Within 5 years a||
|||of Yudean Group’s electricity asset|3,|fter the completi||
|Commitment made|Guangdong|||||
|||integration within the boundary. ②|2011|on of major asse|Under|
|upon the assets|Yudean Group|||||
|||Except Yue Dian Li and the electricity||t reorganization|fulfillment|
|replacement|Co., Ltd.|||||
|||assets controlled by it, within 5 years||||
|||after the last recombination is done,||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||
|-|-|-|-|-|-|
|||Yudean Group will pump the assets||||
|||which meet the conditions of launching||||
|||after reformation into Yue Dian Li||||
|||gradually through purchasing and||||
|||recombination and other ways, according||||
|||to the situation of solutions to different||||
|||problems, e.g. the imperfect examination||||
|||and approval procedures, the situation of||||
|||profitability, cooperation agreement and||||
|||land utilization. ③ At the aspects of the||||
|||development of power project and assets||||
|||purchasing, Yudean Group provides the||||
|||priority for Yue Dian Li choose. If Yue||||
|||Dian Li gives up development and||||
|||purchasing, Guangkong Group will join||||
|||Yue Dian Li under the situation that the||||
|||project is completed and put into||||
|||production, and that the purchase is done||||
|||and the project meets the conditions of||||
|||listing.For details,||||
|||see June 5, 2014, published in the desig||||
|||nated media "Announcement of Guangdo||||
|||ng Electric Power Development Co.,Ltd.||||
|||matters related to commitments".||||
|Commitments made||||||
|upon issuance||||||
|||To maintain the stability of the market,||||
|Other commitments|Guangdong|Yudean Group promised not to||||
||||||Under|
|made to minority|Yudean Group|reduce the Yudean electric power shares|July 8, 2015|12 months||
||||||fulfillment|
|shareholders|Co., Ltd.|within the next 12 months.||||
|Executed timely or not?|Yea|||||

XI. Particulars about engagement and disengagement of CPAs firm
Whether the semi-annual financial report had been audited?
□ Yes√ No
The semi-annual financial report has not been audited.
XII. Punishment and Rectification
□ Applicable√ Not applicable
There was no any punishment and rectification of the Company in the reporting period.
XIII. Reveal of the delisting risks of illegal or violation
□ Applicable√ Not applicable
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 There was no any delisting risk of illegal or violation of the Company in the reporting period.
XIV. Explanation about other significant matters
□ Applicable√ Not applicable
No Explanation about other significant matters other for the Company in reporting period.
XV. Issuance of corporate bonds
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|||
|||||||Interest||
|Bond name|Bond short name|Bond code|Issue day|Due day|balance||Servicing way|
|||||||rate||
||||||‘0000|||
|2012 Corporate|||||||Using simple interest|
||||||||rate on a yearly basis,|
|bonds of||||||||
||||||||regardless of compound|
|Guangdong|||||||interest. Due payments|
||12 Yudean|||||||
|||112162.SZ|March 18,2013|March 17,2020|120,000|4.95%|once a year, maturing|
|Electric Power|Bond|||||||
||||||||debt at a time. In the|
|Development Co.,|||||||final phase, interest is|
||||||||paid together with the|
|Ltd..||||||||
||||||||principal redemption.|
|Corporate bonds listed or||||||||
|||Shenzhen Stock Exchange||||||
|trading places||||||||
|During the reporting period,||The company paid the bond interests of the current year on March 18, 2016 to all the bond holders||||||
|interest payment situation of the||who were registered in China Securities Depository and Clearing Co., Ltd. Shenzhen branch as of||||||
|company bonds||the afternoon of March 17, 2016 when the Shenzhen Stock Exchange closed.||||||
|If the corporate bonds attached||||||||
|to special clauses to the issuer||||||||
|||The duration of the bonds is 7 years, with redemption option, option of raising coupon rate by the||||||
|or the investors such as option||||||||
|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)||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 2. Bond trustee and the credit rating agency information
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|Bond trustee：|||||||||||
||||||||Liu Longwen,Zhao||||
||||||||Xinxin, Wang||||
||||||22/F, CITIC||||||
||||||||Chaonan,,Song||||
||||||Securities||||||
||||||||Yilan, He Shen, Guo||||
||CITIC Securities Co.,||||Building , No.48.||||||
|Name|||Office|||Contact|Jianhan, Chen Yali,||Tel|010-60838888|
||Ltd.||||Liangmaqiao||||||
||||||||Wang Hongfeng,||||
||||||Road, Chaoyang||||||
||||||||Zhang Zengwen, Wu||||
||||||District , Beijing||||||
||||||||Anqing, Chen Xi||||
||||||||and Chang Wei.||||
|The credit rating agencies which follow and rate the corporate bond during the reporting period|||||||||||
|||||||||8/F, Anji Building, No.760, Tibet South Road,|||
|Name||CCXR||||Office address|||||
|||||||||Huangpu District, Shanghai.|||
|During the report period, the bond trustee,|||||||||||
|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 18, 2015, CCXR traced and analyzed the credit status of the company and thecompany’s bonds of
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 “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(2016).
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 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 2015) on May 27, 2016, and the report was disclosed on the cninf website on May 30, 2016 by the company.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 8.During the reporting period, the company's major accounting data and financial indicators for last 2 years
InRMB’0000
|||||
|-|-|-|-|
|Items|June 30, 2016|June 30,2015|At the same time rate of change|
|liquidity ratio|65.02%|66.99%|-1.97%|
|Asset-liability ratio|59.53%|57.98%|1.55%|
|Quick action ratio|53.40%|54.93%|-1.53%|
||This report term|Same period last year|Increase/decrease (%)|
|The multiple of cash interest||||
||4.87|5.8|-16.03%|
|safeguard||||
|loan payment rate|100.00%|100.00%|0.00%|
|Interest rate of pay|100.00%|100.00%|0.00%|

 The main reason that the accounting data and financial indicators yoy change more than30%
□Applicable√ Not applicable
9. Property rights limits by the end of report period
None
10.During the report period interest payment for other bonds and debt financing tool
□Applicable√ Not applicable
None
11.During the report period obtain bank credit, its use situation and repayment of bank loans
None
12.During the reporting period the situation of performing the related agreement or commitment in the corporate bond prospectus
On June 3, 2016, the company signed an unconditional available bank amount limit of about RMB 45 billion, of which the used amount limit was RMB 20.2 billion, thus the remaining available bank amount limit was about RMB 24.8 billion.
13.During the reporting period the situation of performing the related agreement or commitment in the corporate bond prospectus
During the reporting period, the company strictly implemented the provisions stipulated in the Prospectus of
Issuance of Bonds, timely paid the bond interests to the bond holders according to the time stipulated in the basic
clauses of the bonds and performed the obligation of information disclosure related to the bonds with in
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 accordance with relevant laws, and there was no situation of jeopardizing the interests of the bond investors. 14.Major events occurring in the period of report
None
15.Whether there is a guarantor corporate bonds
□ Yes√No
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 VI. Change of share capital and shareholding of Principal Shareholders
(1) Changes in share capital
In Shares
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Before the change||Increase/decrease（+，-）|||||After the Change||
||Amount|Proportion|||Capitalizat|||||
||||Share|Bonus|ion of||||Proportio|
||||||common|Other|Subtotal|Quantity||
||||allotment|shares|||||n|
||||||reserve|||||
||||||fund|||||
|I. Share with conditional|1,897,966,|||||||1,897,966||
|||36.15%|||||||36.15%|
|subscription|823|||||||,823||
|2. State-owned legal|1,893,342,|||||||1,893,342||
|||36.06%|||||||36.06%|
|person shares|621|||||||,621||
|3.Other domestic shares|4,624,202|0.09%||||||4,624,202|0.09%|
|Of which：Domestic legal||||||||||
||4,620,666|0.09%||||||4,620,666|0.09%|
|person shares||||||||||
|Domestic natural person||||||||||
||3,536|0.00%||||||3,536|0.00%|
|shares||||||||||
|II. Shares with|3,352,317,|||||||3,352,317||
|||63.85%|||||||63.85%|
|unconditional subscription|163|||||||,163||
||2,553,909,|||||||2,553,909||
|1.Common shares in RMB||48.64%|||||||48.64%|
||163|||||||,163||
|2.Foreign shares in|798,408,0|||||||798,408,0||
|||15.21%|||||||15.21%|
|domestic market|00|||||||00||
||5,250,283,|||||||5,250,283||
|III. Total of capital shares||100.00%|||||||100.00%|
||986|||||||,986||

Causation of change in share equity
[V] Applicable Not applicable
Selling of shares held by the directors or supervisors in the report period
Approval of change in share capital
[] Applicable;[V] Not applicable
Situation of registration process of transferred shares
[] Applicable;[V] Not applicable
Influences of the change of share equity on financial indices such as basic earning per share, dilluted earning per share, and net asset per share attributed to common shareholders:
[] Applicable;[V] Not applicable
Other information the Company thinks necessary or required by the authority to be disclosed
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016[] Applicable;[V] Not applicable
Change of total shares and shareholding structures, assets and liabilities
[] Applicable;[V] Not applicable
II. Shareholders and actual controlling shareholder
In Shares
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||Total number of preferred||||||
|Total number of common||||||shareholders that had restored||||||
|shareholders at the end of the||112,898||||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||||||||||||
||||Proporti|||||||Number os share||
||||||Changes|||||||
||||on of|Number of|||Amount of|Amount of||pledged/frozen||
||Nuture of||||in|||||||
|Shareholders|||shares|shares held at|||restricted|un-restricted||||
||shareholder||||reporting|||||||
||||held|period -end|||shares held|shares held||State of share|Amount|
||||||period|||||||
||||（%）|||||||||
|Guangdong Yudean GroupCo., Ltd.|State-owned legalperson||67.39%|3,538,005,285|||1,893,342,621|1,644,662,664||||
|China Securities FinanceCo., Ltd.|State-owned legalperson||2.78%|145,748,980||||145,748,980||||
|Guangdong GuangfaElectric Power InvestmentCo., Ltd.|State-owned legalperson||2.22%|116,693,602||||116,693,602||||
|Guangdong Electric PowerDevelopment Corporation|State-owned legalperson||1.80%|94,367,341||||94,367,341||||
|GOLDEN CHINAMASTER FUND|OverseasLegalperson||0.55%|28,877,922|-3,515,138|||28,877,922||||
|Li Zhuo|Domesticnatural person||0.41%|21,303,785|7,301,617|||21,303,785||||
|GREENWOODS CHINAALPHA MASTER FUND|OverseasLegalperson||0.39%|20,238,886||||20,238,886||||
|NORGES BANK|OverseasLegalperson||0.35%|18,209,318||||18,209,318||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||
|-|-|-|-|-|-|-|-|
|BBH A/C VANGUARDEMERGING MARKETSSTOCK INDEX FUND|OverseasLegalperson|0.30%|15,675,144||15,675,144|||
|CHINA INT'L CAPITALCORP HONG KONGSECURITIES LTD|OverseasLegalperson|0.29%|15,322,336|-360,000|15,322,336|||
|Strategy investors or general legal person||Not applicable||||||
|becomes top 10 shareholders due to||||||||
|rights issued (if applicable)（See Notes||||||||
|3）||||||||
|||The fourth largest shareholder Guangdong Electric Power Development Corporation is the||||||
|Explanation on associated relationship||wholly-owned subsidiaries of the largest shareholder Yudean Group. These two companies||||||
|among the aforesaid shareholders||have relationships; whether the other shareholders have relationships or unanimous acting||||||
|||was unknown.||||||
|Shareholding of top 10 shareholders of unrestricted shares||||||||
|Name of the shareholder||Quantity of unrestricted shares held at the end of the||||Share type||
|||reporting period||||Share type|Quantity|
|Guangdong Yudean Group Co., Ltd.||1,644,662,664||||RMB Common||
|||||||shares||
|China Securities Finance Co., Ltd.||145,748,980||||RMB Common||
|||||||shares||
|Guangdong Guangfa Electric PowerInvestment Co., Ltd.||116,693,602||||RMB Common||
|||||||shares||
|Guangdong Electric PowerDevelopment Corporation||94,367,341||||RMB Common||
|||||||shares||
|GOLDEN CHINA MASTER FUND||28,877,922||||Foreign shares||
|||||||placed in||
|||||||domestic||
|||||||exchange||
|Li Zhuo||21,303,785||||RMB Common||
|||||||shares||
|GREENWOODS CHINA ALPHAMASTER FUND||20,238,886||||Foreign shares||
|||||||placed in||
|||||||domestic||
|||||||exchange||
|NORGES BANK||18,209,318||||Foreign shares||
|||||||placed in||
|||||||domestic||
|||||||exchange||
|BBH A/C VANGUARD EMERGING||15,675,144||||Foreign shares||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|MARKETS STOCK INDEX FUND||placed in|
|||domestic|
|||exchange|
|CHINA INT'L CAPITAL CORP HONGKONG SECURITIES LTD|15,322,336|Foreign shares|
|||placed in|
|||domestic|
|||exchange|
|Explanation on associated relationship|||
|or consistent action among the top 10|||
||The fourth largest shareholder Guangdong Electric Power Development Corporation is the||
|shareholders of non-restricted|||
||wholly-owned subsidiaries of the largest shareholder Yudean Group. These two companies||
|negotiable shares and that between the|||
||have relationships; whether the other shareholders have relationships or unanimous acting was||
|top 10 shareholders of non-restricted|||
||unknown.||
|negotiable shares and top 10|||
|shareholders|||
|Explanation on shareholders|The Sixth Shareholder Li Zhuo holds 21,015,865 A shares of the Company throuth stock||
|participating in the margin trading|account with credit transaction and guarantee and holds 287,920 A shares throuth ordinary||
|business(if any )(See Notes 4)|stock account , hold 21,303, 785 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.
III. 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.
IV. Particulars on shareholding increase scheme during the reporting period proposed or implemented by the shareholders and act-in-concert persons
□ Applicable√ Not applicable
Within the scope known to the Company, there was no any shareholding increase scheme during the reporting period proposed or implemented by the shareholders and act-in-concert persons.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 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 2016 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 2015 Annual Report.
II. Changes in directors, supervisors and senior management staffs
√ Applicable□ Not applicable
||||||
|-|-|-|-|-|
|Name|Title|Type|Date|Reason|
||Independent||||
|Ding Yougang||Leave office|May 20,2016|Personal reasons|
||Director||||
||Independent||||
|Lu Jun||Leave office|May 20,2016|Personal reasons|
||Director||||
||iIndependent||||
|Shen Hongtao||Be elected|May 20,2016||
||Director||||
||Independent||||
|Wang Xi||Be elected|May 20,2016||
||Director||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 IX. Financial Report
1. Audit report
Has this semi-annual report been audited?
□ Yes√ No
The semi-annual financial report has not been audited.
II. Financial statements
Currency unit for the statements in the notes to these financial statements:RMB
1. Consolidated balance sheet
Preparedby：Guangdong Electric Power Development Co., Ltd.
June 30,2016
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Current asset：|||
|Monetary fund|6,108,160,833.00|5,237,406,725.00|
|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|2,599,665,735.00|2,484,683,890.00|
|Prepayments|857,743,516.00|1,063,701,630.00|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts|||
|receivable|||
|Interest receivable|14,987,275.00|10,232,658.00|
|Dividend receivable||4,000,000.00|
|Other account receivable|133,924,039.00|188,899,280.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Repurchasing of financial assets|||
|Inventories|1,459,056,607.00|1,333,654,623.00|
|Assets held for sales|||
|Non-current asset due in 1 year|||
|Other current asset|653,851,736.00|638,461,972.00|
|Total of current assets|11,827,389,741.00|10,961,040,778.00|
|Non-current assets：|||
|Loans and payment on other’s behalf|||
|disbursed|||
|Disposable financial asset|949,125,115.00|1,094,350,488.00|
|Expired investment in possess|||
|Long-term receivable|131,432,804.00|128,640,631.00|
|Long term share equity investment|5,908,278,126.00|5,924,410,159.00|
|Property investment|9,250,037.00|9,567,835.00|
|Fixed assets|44,317,670,244.00|44,330,167,621.00|
|Construction in progress|5,257,560,494.00|5,613,398,840.00|
|Engineering material|1,985,749.00|1,673,547.00|
|Fixed asset disposal|5,238,300.00|3,475,384.00|
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|1,643,007,000.00|1,663,430,069.00|
|R & D petrol|||
|Goodwill|27,486,780.00|27,486,780.00|
|Long-germ expenses to be amortized|29,437,406.00|28,843,225.00|
|Differed income tax asset|129,111,294.00|116,237,351.00|
|Other non-current asset|1,804,371,274.00|2,017,211,435.00|
|Total of non-current assets|60,213,954,623.00|60,958,893,365.00|
|Total of assets|72,041,344,364.00|71,919,934,143.00|
|Current liabilities|||
|Short-term loans|6,611,440,000.00|6,288,060,000.00|
|Loan from Central Bank|||
|Deposit received and hold for others|||
|Call loan received|||
|Financial liabilities measured at fair|||
|value with variations accounted into|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|current income account|||
|Derivative financial liabilities|||
|Bill payable|619,643,341.00|593,971,146.00|
|Account payable|2,152,321,167.00|1,739,227,291.00|
|Advance payment|212,698.00|244,798.00|
|Selling of repurchased financial assets|||
|Fees and commissions receivable|||
|Employees’ wage payable|207,093,192.00|123,477,922.00|
|Tax payable|532,849,167.00|404,729,354.00|
|Interest payable|137,254,533.00|105,492,698.00|
|Dividend payable|9,703,747.00|8,640,994.00|
|Other account payable|3,573,005,656.00|3,536,133,625.00|
|Reinsurance fee payable|||
|Insurance contract provision|||
|Entrusted trading of securities|||
|Entrusted selling of securities|||
|Liabilities held for sales|||
|Estimated liabilities||700,000.00|
|Non-current liability due in 1 year|1,906,918,943.00|1,850,970,652.00|
|Other current liability|2,441,080,411.00|1,711,348,630.00|
|Total of current liability|18,191,522,855.00|16,362,997,110.00|
|Non-current liabilities：|||
|Long-term loan|21,150,686,546.00|21,303,229,910.00|
|Bond payable|1,196,506,190.00|1,196,029,762.00|
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|2,056,475,038.00|2,495,443,111.00|
|Long-term payable employees’s|||
||75,996,657.00|85,827,126.00|
|remuneration|||
|Special payable|24,399,913.00|24,711,974.00|
|Expected liabilities|||
|Differed income|101,578,196.00|103,256,725.00|
|Differed income tax liability|50,932,827.00|87,243,028.00|
|Other non-current liabilities|39,000,000.00|39,000,000.00|
|Total non-current liabilities|24,695,575,367.00|25,334,741,636.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Total of liability|42,887,098,222.00|41,697,738,746.00|
|Owners’ equity|||
|Share capital|5,250,283,986.00|5,250,283,986.00|
|Other equity instruments|||
|Including：preferred stock|||
|Sustainable debt|||
|Capital reserves|5,007,746,614.00|5,007,077,158.00|
|Less：Shares in stock|||
|Other comprehensive income|137,760,523.00|245,708,715.00|
|Special reserves|||
|Surplus reserves|6,845,001,818.00|5,812,191,775.00|
|Common risk provision|||
|Undistributed profit|5,937,334,772.00|7,439,335,347.00|
|Total of owner’s equity belong to the|||
||23,178,127,713.00|23,754,596,981.00|
|parent company|||
|Minority shareholders’ equity|5,976,118,429.00|6,467,598,416.00|
|Total of owners’ equity|29,154,246,142.00|30,222,195,397.00|
|Total of liabilities and owners’ equity|72,041,344,364.00|71,919,934,143.00|

 Legal representative：Li Zhuoxian
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|1,648,937,570.00|682,950,639.00|
|Financial assets measured at fair value|||
|with variations accounted into current|||
|income account|||
|Derivative financial assets|||
|Bill receivable|||
|Account receivable|245,174,390.00|134,539,664.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Prepayments|79,390,550.00|115,303,150.00|
|Interest receivable|1,189,090.00|1,818,442.00|
|Dividend receivable|0.00|21,512,934.00|
|Other account receivable|115,380,995.00|318,483,048.00|
|Inventories|111,790,763.00|141,559,999.00|
|Assets held for sales|||
|Non-current asset due in 1 year|||
|Other current asset|0.00|10,508,362.00|
|Total of current assets|2,201,863,358.00|1,426,676,238.00|
|Non-current assets：|||
|Disposable financial asset|949,125,115.00|1,094,350,488.00|
|Expired investment in possess|||
|Long-term receivable|300,000,000.00|100,000,000.00|
|Long term share equity investment|22,979,570,085.00|22,588,550,554.00|
|Property investment|9,250,035.00|9,567,835.00|
|Fixed assets|1,148,657,065.00|1,217,618,892.00|
|Construction in progress|29,637,043.00|26,156,889.00|
|Engineering material|||
|Fixed asset disposal|35,489.00||
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|94,046,093.00|95,876,179.00|
|R & D petrol|||
|Goodwill|||
|Long-germ expenses to be amortized|||
|Differed income tax asset|||
|Other non-current asset|653,004,000.00|653,004,000.00|
|Total of non-current assets|26,163,324,925.00|25,785,124,837.00|
|Total of assets|28,365,188,283.00|27,211,801,075.00|
|Current liabilities|||
|Short-term loans|900,000,000.00|900,000,000.00|
|Financial liabilities measured at fair|||
|value with variations accounted into|||
|current income account|||
|Derivative financial liabilities|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Bill payable|||
|Account payable|262,252,779.00|292,714,747.00|
|Advance payment|||
|Employees’ wage payable|32,006,114.00|30,063,156.00|
|Tax payable|38,332,964.00|21,266,249.00|
|Interest payable|18,369,230.00|52,100,633.00|
|Dividend payable|9,703,747.00|8,640,994.00|
|Other account payable|83,100,339.00|112,031,125.00|
|Liabilities held for sales|||
|Non-current liability due in 1 year|||
|Other current liability|2,235,541,781.00|1,509,599,589.00|
|Total of current liability|3,579,306,954.00|2,926,416,493.00|
|Non-current liabilities：|||
|Long-term loan|1,500,000,000.00|1,500,000,000.00|
|Bond payable|1,196,506,190.00|1,196,029,762.00|
|Including：preferred stock|||
|Sustainable debt|||
|Long-term payable|||
|Employees’ wage payable|20,210,442.00|24,192,962.00|
|Special payable|||
|Expected liabilities|||
|Differed income|51,459,840.00|52,918,949.00|
|Differed income tax liability|18,650,274.00|54,572,001.00|
|Other non-current liabilities|||
|Total of Non-current liabilities|2,786,826,746.00|2,827,713,674.00|
|Total of liability|6,366,133,700.00|5,754,130,167.00|
|Owners’ equity|||
|Share capital|5,250,283,986.00|5,250,283,986.00|
|Other equity instrument|||
|Including：preferred stock|||
|Sustainable debt|||
|Capital reserves|5,610,491,299.00|5,609,821,843.00|
|Less：Shares in stock|||
|Other comprehensive income|137,760,523.00|245,708,715.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Special reserves|||
|Surplus reserves|6,845,001,818.00|5,812,191,775.00|
|Undistributed profit|4,155,516,957.00|4,539,664,589.00|
|Total of owners’ equity|21,999,054,583.00|21,457,670,908.00|
|Total of liabilities and owners’ equity|28,365,188,283.00|27,211,801,075.00|

 3.Consolidated Income statement
In RMB
||||
|-|-|-|
|Item|Report period|Same period of the previous year|
|I. Income from the key business|10,234,989,566.00|12,911,553,232.00|
|Incl：Business income|10,234,989,566.00|12,911,553,232.00|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|II. Total business cost|8,895,457,564.00|10,475,134,429.00|
|Incl：Business cost|7,767,910,229.00|9,181,722,019.00|
|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|76,108,043.00|105,962,706.00|
|Sales expense|736,468.00|821,137.00|
|Administrative expense|348,730,393.00|374,363,287.00|
|Financial expenses|701,972,431.00|812,265,280.00|
|Asset impairment loss|0.00||
|Add：Gains from change of fir value|||
|（“-”for loss）|||
|Investment gain（“-”for loss）|128,721,534.00|519,970,718.00|
|Incl: investment gains from affiliates|126,201,534.00|316,251,814.00|
|Gains from currency exchange|||
|（“-”for loss）|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|III. Operational profit（“-”for loss）|1,468,253,536.00|2,956,389,521.00|
|Add ：Non-operational income|10,609,711.00|21,200,140.00|
|Including：Income from disposal of|||
||130,677.00|894,294.00|
|non-current assets|||
|Less：Non business expenses|14,167,800.00|1,064,715.00|
|Incl：Loss from disposal of non-current|||
||170,836.00|257,135.00|
|assets|||
|IV.Total profit(“-”for loss)|1,464,695,447.00|2,976,524,946.00|
|Less：Income tax expenses|415,482,070.00|578,388,722.00|
|V. Net profit|1,049,213,377.00|2,398,136,224.00|
|Net profit attributable to the owners of|||
||738,374,784.00|1,720,995,015.00|
|parent company|||
|Minority shareholders’ equity|310,838,593.00|677,141,209.00|
|VI. Other comprehensive income|-107,948,192.00|194,254,115.00|
|Net of profit of other comprehensive inco|||
|me attributable to owners of the parent co|-107,948,192.00|194,254,115.00|
|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）|||
||-107,948,192.00|194,254,115.00|
|Other comprehensive income that will be|||
|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|||
||-108,919,030.00|194,254,115.00|
|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|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|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|941,265,185.00|2,592,390,339.00|
|Total comprehensive income attributable|630,426,592.00||
|||1,915,249,130.00|
|to the owner of the parent company|||
|Total comprehensive income|310,838,593.00||
|||677,141,209.00|
|attributable minority shareholders|||
|VIII. Earnings per share|||
|（I）Basic earnings per share|0.14|0.33|
|(II)Diluted earnings per share|0.14|0.33|

 Legal representative：Li Zhuoxian
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|825,674,110.00|1,097,666,614.00|
|Incl：Business cost|630,368,054.00|768,961,812.00|
|Business tax and surcharge|7,994,515.00|10,990,417.00|
|Sales expense|9,300.00||
|Administrative expense|55,281,911.00|54,106,442.00|
|Financial expenses|112,026,865.00|159,912,982.00|
|Asset impairment loss|||
|Add：Gains from change of fir value（“-”for loss）|||
|Investment gain（“-”for loss）|1,853,145,315.00|2,071,148,869.00|
|Incl: investment gains from|123,853,097.00|313,331,726.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|affiliates|||
|II. Operational profit（“-”for loss）|1,873,138,780.00|2,174,843,830.00|
|Add ：Non-operational income|1,795,373.00|1,719,783.00|
|Including：Income from disposal of|||
|non-current assets|||
|Less：Non business expenses|358,085.00|26,530.00|
|Incl：Loss from disposal of non-current|||
|assets|||
|III.Total profit(“-”for loss)|1,874,576,068.00|2,176,537,083.00|
|Less：Income tax expenses|18,348,341.00|21,528,415.00|
|IV. Net profit（“-”for net loss）|1,856,227,727.00|2,155,008,668.00|
|V.Net of profit of other comprehensive i|||
||-107,948,192.00|194,254,115.00|
|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|-107,948,192.00|194,254,115.00|
|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|||
||-108,919,030.00|194,254,115.00|
|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|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|VI. Total comprehensive income|1,748,279,535.00|2,349,262,783.00|
|VII. Earnings per share：|||
|（I）Basic earnings per share|0.35|0.41|
|(II)Diluted earnings per share|0.35|0.41|

 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|||
||11,993,341,095.00|15,036,477,914.00|
|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||6,168,959.00|
|Other cash received from business|||
||113,208,976.00|81,857,382.00|
|operation|||
|Sub-total of cash inflow|12,106,550,071.00|15,124,504,255.00|
|Cash paid for purchasing of|||
||5,231,263,343.00|6,733,903,103.00|
|merchandise and services|||
|Net increase of client trade and advance|||
|Net increase of savings n central bank|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|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|784,293,113.00|755,190,690.00|
|Taxes paid|1,191,800,857.00|1,690,188,956.00|
|Other cash paid for business activities|202,692,576.00|243,041,072.00|
|Sub-total of cash outflow from business|||
||7,410,049,889.00|9,422,323,821.00|
|activities|||
|Cash flow generated by business|||
||4,696,500,182.00|5,702,180,434.00|
|operation, net|||
|II.Cash flow generated by investing|||
|Cash received from investment|||
|||217,476,155.00|
|retrieving|||
|Cash received as investment gains|150,472,644.00|150,543,015.00|
|Net cash retrieved from disposal of|||
|fixed assets, intangible assets, and other|1,601,233.00|8,734,737.00|
|long-term assets|||
|Net cash received from disposal of|||
|subsidiaries or other operational units|||
|Other investment-related cash received||52,028,777.00|
|Sub-total of cash inflow due to|||
||152,073,877.00|428,782,684.00|
|investment activities|||
|Cash paid for construction of|||
|fixed assets, intangible assets|1,525,254,338.00|2,263,497,895.00|
|and other long-term assets|||
|Cash paid as investment|||
|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|||
||1,525,254,338.00|2,263,497,895.00|
|investment activities|||
|Net cash flow generated by investment|-1,373,180,461.00|-1,834,715,211.00|
|III.Cash flow generated by financing|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Cash received as investment|10,000,000.00|33,000,000.00|
|Incl: Cash received as investment from|||
||10,000,000.00|33,000,000.00|
|minor shareholders|||
|Cash received as loans|5,598,296,599.00|13,765,880,000.00|
|Cash received from bond placing|||
|Other financing –related ash received|||
|Sub-total of cash inflow from financing|||
||5,608,296,599.00|13,798,880,000.00|
|activities|||
|Cash to repay debts|5,284,042,404.00|12,880,903,754.00|
|Cash paid as dividend, profit, or|||
||2,766,819,808.00|2,752,618,351.00|
|interests|||
|Incl: Dividend and profit paid by|||
||812,318,580.00|943,649,890.00|
|subsidiaries to minor shareholders|||
|Other cash paid for financing activities|0.00|50,400,000.00|
|Sub-total of cash outflow due to|||
||8,050,862,212.00|15,683,922,105.00|
|financing activities|||
|Net cash flow generated by financing|-2,442,565,613.00|-1,885,042,105.00|
|IV. Influence of exchange rate|||
|alternation on cash and cash equivalents|||
|V.Net increase of cash and cash|||
||880,754,108.00|1,982,423,118.00|
|equivalents|||
|Add: balance of cash and cash|||
||5,227,406,725.00|4,528,277,314.00|
|equivalents at the beginning of term|||
|VI ..Balance of cash and cash|||
||6,108,160,833.00|6,510,700,432.00|
|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|||
||861,819,588.00|1,276,185,551.00|
|rending of services|||
|Tax returned|||
|Other cash received from business|||
||13,015,892.00|12,896,711.00|
|operation|||
|Sub-total of cash inflow|874,835,480.00|1,289,082,262.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Cash paid for purchasing of|||
||443,237,990.00|414,080,693.00|
|merchandise and services|||
|Cash paid to staffs or paid for staffs|156,782,737.00|137,574,749.00|
|Taxes paid|87,603,634.00|130,030,174.00|
|Other cash paid for business activities|24,167,184.00|26,139,598.00|
|Sub-total of cash outflow from business|||
||711,791,545.00|707,825,214.00|
|activities|||
|Cash flow generated by business|||
||163,043,935.00|581,257,048.00|
|operation, net|||
|II.Cash flow generated by investing|||
|Cash received from investment|||
||300,000,000.00|937,052,822.00|
|retrieving|||
|Cash received as investment gains|1,896,415,452.00|1,780,610,890.00|
|Net cash retrieved from disposal of|||
|fixed assets, intangible assets, and other||4,045.00|
|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|||
||2,196,415,452.00|2,717,667,757.00|
|investment activities|||
|Cash paid for construction of|||
|fixed assets, intangible assets|52,779,574.00|51,321,957.00|
|and other long-term assets|||
|Cash paid as investment|710,400,000.00|1,399,800,000.00|
|Net cash received from subsidiaries and|||
|other operational units|||
|Other cash paid for investment|||
|activities|||
|Sub-total of cash outflow due to|||
||763,179,574.00|1,451,121,957.00|
|investment activities|||
|Net cash flow generated by investment|1,433,235,878.00|1,266,545,800.00|
|III.Cash flow generated by financing|||
|Cash received as investment|||
|Cash received as loans|1,398,212,500.00|2,350,000,000.00|
|Cash received from bond placing|||
|Other financing –related ash received|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Sub-total of cash inflow from|||
||1,398,212,500.00|2,350,000,000.00|
|financing activities|||
|Cash to repay debts|700,000,000.00|2,849,548,864.00|
|Cash paid as dividend, profit, or|||
||1,328,505,382.00|1,142,890,016.00|
|interests|||
|Other cash paid for financing activities|||
|Sub-total of cash outflow due to|||
||2,028,505,382.00|3,992,438,880.00|
|financing activities|||
|Net cash flow generated by financing|-630,292,882.00|-1,642,438,880.00|
|IV. Influence of exchange rate|||
|alternation on cash and cash equivalents|||
|V.Net increase of cash and cash|||
||965,986,931.00|205,363,968.00|
|equivalents|||
|Add: balance of cash and cash|||
||682,950,639.00|408,233,799.00|
|equivalents at the beginning of term|||
|VI ..Balance of cash and cash|||
||1,648,937,570.00|613,597,767.00|
|equivalents at the end of term|||

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|||||||||||Total|
|||||||||||||Minor||
|||instrusment||||Less:|Other||Surplu|Comm|||of|
|Items||||||||||||||
||Share||||Capital|||Specia|||Attribu|shareh||
|||||Other||Shares|Compre||s|on risk|||owner|
||Capit|prefer|||reserve|||lized|||table|olders’||
||||Sustai|||in|hensive||reserve|provisi|||s’|
||al|red|||s|||reserve|||profit|equity||
||||nable|||stock|Income||s|on|||equity|
|||stock||||||||||||
||||debt|||||||||||
||5,250,||||5,007,0||||5,812,1||7,439,3|6,467,5|30,222,|
|I.Balance at the|||||||245,708|||||||
||283,98||||77,158.||||91,775.||35,347.|98,416.|195,397|
|end of last year|||||||,715.00|||||||
||6.00||||00||||00||00|00|.00|
|Add: Change of||||||||||||||
|accounting||||||||||||||
|policy||||||||||||||
|Correcting of||||||||||||||
|previous errors||||||||||||||
|Merger of entities||||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||
|-|-|-|-|-|-|-|-|
|under common||||||||
|control||||||||
|Other||||||||
|II.Balance at the|5,250,|5,007,0||5,812,1|7,439,3|6,467,5|30,222,|
||||245,708|||||
|beginning of|283,98|77,158.||91,775.|35,347.|98,416.|195,397|
||||,715.00|||||
|current year|6.00|00||00|00|00|.00|
||||-107,94|1,032,8|-1,502,0|-491,47|-1,067,9|
|III.Changed in the||669,456||||||
||||8,192.0|10,043.|00,575.|9,987.0|49,255.|
|current year||.00||||||
||||0|00|00|0|00|
|（1）Total|||-107,94|||||
||||||738,374|310,838|941,265|
|comprehensive|||8,192.0|||||
||||||,784.00|,593.00|,185.00|
|income|||0|||||
|（II）Investment||||||||
|||669,456||||10,000,|10,669,|
|or decreasing of||||||||
|||.00||||000.00|456.00|
|capital by owners||||||||
|1．Ordinary Share||||||||
|||||||10,000,|10,000,|
|s invested by hare||0.00||||||
|||||||000.00|000.00|
|holders||||||||
|2．Holders of oth||||||||
|er equity instrume||||||||
|nts invested capital||||||||
|3．Amount of||||||||
|shares paid and||||||||
|accounted as||||||||
|owners’ equity||||||||
|||669,456|||||669,456|
|4．Other||||||||
|||.00|||||.00|
|||||1,032,8|-2,240,3|-812,31|-2,019,8|
|（III）Profit||||||||
|||||10,043.|75,359.|8,580.0|83,896.|
|allotment||||||||
|||||00|00|0|00|
|||||1,032,8|-1,032,8|||
|1.Providing of||||||||
|||||10,043.|10,043.|||
|surplus reserves||||||||
|||||00|00|||
|2.Providing of||||||||
|common risk||||||||
|provisions||||||||
|3．Allotment to the|||||-1,207,5|-812,31|-2,019,8|
|owners (or|||||65,316.|8,580.0|83,896.|
|shareholders)|||||00|0|00|
|4．Other||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||
|-|-|-|-|-|-|-|-|
|(IV) Internal||||||||
|transferring of||||||||
|owners’ equity||||||||
|1. Capitalizing of||||||||
|capital reserves (or||||||||
|to capital shares)||||||||
|2. Capitalizing of||||||||
|surplus reserves||||||||
|(or to capital||||||||
|shares)||||||||
|3．Making up||||||||
|losses by surplus||||||||
|reserves.||||||||
|4. Other||||||||
|(VI Special||||||||
|reserves||||||||
|1. Provided this||||||||
|year||||||||
|2．Used this term||||||||
|（VII）Other||||||||
||5,250,|5,007,7||6,845,0|5,937,3|5,976,1|29,154,246,142.00|
|IV. Balance at the|||137,760|||||
||283,98|46,614.||01,818.|34,772.|18,429.||
|end of this term|||,523.00|||||
||6.00|00||00|00|00||

 Amount in last year
In RMB
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in last year|||||||||||||
||Owner’s equity Attributable to the Parent Company|||||||||||||
|||Other Equity|||||||||||Total|
|||||||||||||Minor||
|||instrusment||||Less:|Other||Surplu|Comm|||of|
|Items||||||||||||||
||Share||||Capital|||Specia|||Attribu|shareh||
|||||||Shares|Compre||s|on risk|||owner|
||Capit|prefer|||reserve|||lized|||table|olders’||
||||Sustai|||in|hensive||reserve|provisi|||s’|
||al|red||Other|s|||reserve|||profit|equity||
||||nable|||stock|Income||s|on|||equity|
|||stock||||||||||||
||||debt|||||||||||
||4,375,||||4,998,4||||4,810,9||6,952,9|6,474,1|27,784,|
|I.Balance at the|||||||172,496|||||||
||236,65||||33,067.||||03,365.||85,107.|65,112.|219,709|
|end of last year|||||||,403.00|||||||
||5.00||||00||||00||00|00|.00|
|Add: Change of||||||||||||||
|accounting||||||||||||||
|policy||||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||
|-|-|-|-|-|-|-|-|
|Correcting of||||||||
|previous errors||||||||
|Merger of entities||||||||
|under common||||||||
|control||||||||
|Other||||||||
|II.Balance at the|4,375,|4,998,4||4,810,9|6,952,9|6,474,1|27,784,|
||||172,496|||||
|beginning of|236,65|33,067.||03,365.|85,107.|65,112.|219,709|
||||,403.00|||||
|current year|5.00|00||00|00|00|.00|
||875,04|||1,001,2|-1,030,3|-283,90||
|III.Changed in the|||194,254||||756,293|
||7,331.|||88,410.|88,057.|8,680.0||
|current year|||,115.00||||,119.00|
||00|||00|00|0||
|（1）Total|||||1,720,9||2,592,3|
||||194,254|||677,141||
|comprehensive|||||95,015.||90,339.|
||||,115.00|||,209.00||
|income|||||00||00|
|（II）Investment||||||||
|||||||-17,400|-17,400,|
|or decreasing of||||||||
|||||||,000.00|000.00|
|capital by owners||||||||
|1．Ordinary Share||||||||
|||||||-17,400|-17,400,|
|s invested by hare||||||||
|||||||,000.00|000.00|
|holders||||||||
|2．Holders of oth||||||||
|er equity instrume||||||||
|nts invested capital||||||||
|3．Allotment to the||||||||
|owners (or||||||||
|shareholders)||||||||
|4．Other||||||||
|(IV) Internal||||1,001,2|-2,751,3|-943,64|-2,693,7|
|transferring of||||88,410.|83,072.|9,889.0|44,551.|
|owners’ equity||||00|00|0|00|
|1. Capitalizing of||||1,001,2|-1,001,2|||
|capital reserves (or||||88,410.|88,410.|||
|to capital shares)||||00|00|||
|2. Capitalizing of||||||||
|surplus reserves||||||||
|(or to capital||||||||
|shares)||||||||
|3．Making up|||||-1,750,0|-943,64|-2,693,7|
|losses by surplus|||||94,662.|9,889.0|44,551.|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||
|-|-|-|-|-|-|-|-|
|reserves.|||||00|0|00|
|4. Other||||||||
||875,04|||||||
|(VI )Special|||||||875,047|
||7,331.|||||||
|reserves|||||||,331.00|
||00|||||||
|1. Provided this||||||||
|year||||||||
|2．Used this term||||||||
|（VII）Other||||||||
||875,04|||||||
|IV. Balance at the|||||||875,047|
||7,331.|||||||
|end of this term|||||||,331.00|
||00|||||||
|(V) Special||||||||
|reserves||||||||
|1. Provided this||||||||
|year||||||||
|2．Used this term||||||||
|（VI）Other||||||||
||5,250,|4,998,4||5,812,1|5,922,5|6,190,2|28,540,|
|IV. Balance at the|||366,750|||||
||283,98|33,067.||91,775.|97,050.|56,432.|512,828|
|end of this term|||,518.00|||||
||6.00|00||00|00|00|.00|

 8.Statement of change inowner’s Equity of the Parent Company
Amount in this period
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in this period|||||||||||
|||Other Equity instrusment||||||||||
||||||||Other|||||
|||||||Less:|||Common|Attribut|Total of|
|Items|Share||||Capital||Compreh|Surplus||||
|||preferre|Sustain|||Shares in|||risk|able|owners’|
||Capital|||Other|reserves||ensive|reserves||||
|||d stock|able|||stock|||provision|profit|equity|
||||||||Income|||||
||||debt|||||||||
|||||||||||4,539,6||
|I.Balance at the|5,250,28||||5,609,821||245,708,7||5,812,191||21,457,67|
|||||||||||64,589.||
|end of last year|3,986.00||||,843.00||15.00||,775.00||0,908.00|
|||||||||||00||
|Add: Change of||||||||||||
|accounting||||||||||||
|policy||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||
|-|-|-|-|-|-|-|
|Correcting of|||||||
|previous errors|||||||
|Other|||||||
|II.Balance at the|||||4,539,6||
||5,250,28|5,609,821|245,708,7|5,812,191||21,457,67|
|beginning of|||||64,589.||
||3,986.00|,843.00|15.00|,775.00||0,908.00|
|current year|||||00||
||||||-384,14||
|III.Changed in the||669,456.0|-107,948,|1,032,810||541,383,6|
||||||7,632.0||
|current year||0|192.00|,043.00||75.00|
||||||0||
|（I）Total|||||1,856,2||
||||-107,948,|||1,748,279|
|comprehensive|||||27,727.||
||||192.00|||,535.00|
|income|||||00||
|(II) Investment or|||||||
|||669,456.0||||669,456.0|
|decreasing of|||||||
|||0||||0|
|capital by owners|||||||
|1．Ordinary Share|||||||
|s invested by hareh|||||||
|olders|||||||
|2．Holders of oth|||||||
|er equity instrume|||||||
|nts invested capital|||||||
|3.Amount of|||||||
|shares paid and|||||||
|accounted as|||||||
|owners’ equity|||||||
|||669,456.0||||669,456.0|
|4．Other|||||||
|||0||||0|
||||||-2,240,3||
|（III）Profit||||1,032,810||-1,207,56|
||||||75,359.||
|allotment||||,043.00||5,316.00|
||||||00||
||||||-1,032,8||
|1.Providing of||||1,032,810||-1,032,81|
||||||10,043.||
|surplus reserves||||,043.00||0,043.00|
||||||00||
|2．Allotment to the|||||-1,207,5||
|||||||-1,207,56|
|owners (or|||||65,316.||
|||||||5,316.00|
|shareholders)|||||00||
|3．Other|||||||
|(IV)Internal|||||||
|transferring of|||||||
|owners’ equity|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||
|-|-|-|-|-|-|-|
|1. Capitalizing of|||||||
|capital reserves (or|||||||
|to capital shares)|||||||
|2. Capitalizing of|||||||
|surplus reserves|||||||
|(or to capital|||||||
|shares)|||||||
|3．Making up|||||||
|losses by surplus|||||||
|reserves.|||||||
|4. Other|||||||
|(V) Special|||||||
|reserves|||||||
|1. Provided this|||||||
|year|||||||
|2．Used this term|||||||
|（VI）Other|||||||
||||||4,155,5|21,999,054,583.00|
|IV. Balance at the|5,250,28|5,610,491|137,760,5|6,845,001|||
||||||16,957.||
|end of this term|3,986.00|,299.00|23.00|,818.00|||
||||||00||

Amount in last year
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||Amount in last year|||||||||||
|||Other Equity instrusment||||||||||
||||||||Other||Commo|||
|||||||Less:||||Attribu|Total of|
|Items|Share||||Capital||Compreh|Surplus|n risk|||
|||preferre|Sustain|||Shares||||table|owners’|
||Capital|||Other|reserves||ensive|reserves|provisio|||
|||d stock|able|||in stock||||profit|equity|
||||||||Income||n|||
||||debt|||||||||
|||||||||||4,340,1||
|I.Balance at the|4,375,23||||5,607,138||172,496,4||4,810,903||19,305,93|
|||||||||||61,825.||
|end of last year|6,655.00||||,564.00||03.00||,365.00||6,812.00|
|||||||||||00||
|Add: Change of||||||||||||
|accounting||||||||||||
|policy||||||||||||
|Correcting of||||||||||||
|previous errors||||||||||||
|Other||||||||||||
|II.Balance at the|4,375,23||||5,607,138||172,496,4||4,810,903|4,340,1|19,305,93|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||
|-|-|-|-|-|-|-|
|beginning of|6,655.00|,564.00|03.00|,365.00|61,825.|6,812.00|
|current year|||||00||
||||||-596,37||
|III.Changed in the|875,047,||194,254,1|1,001,288||1,474,215|
||||||4,404.0||
|current year|331.00||15.00|,410.00||,452.00|
||||||0||
|（I）Total|||||2,155,0||
||||194,254,1|||2,349,262|
|comprehensive|||||08,668.||
||||15.00|||,783.00|
|income|||||00||
|(II) Investment or|||||||
|decreasing of|||||||
|capital by owners|||||||
|1．Ordinary Share|||||||
|s invested by hareh|||||||
|olders|||||||
|2．Holders of oth|||||||
|er equity instrume|||||||
|nts invested capital|||||||
|3.Amount of|||||||
|shares paid and|||||||
|accounted as|||||||
|owners’ equity|||||||
|4．Other|||||||
||||||-2,751,3||
|（III）Profit||||1,001,288||-1,750,09|
||||||83,072.||
|allotment||||,410.00||4,662.00|
||||||00||
||||||-1,001,2||
|1.Providing of||||1,001,288|||
||||||88,410.||
|surplus reserves||||,410.00|||
||||||00||
|2．Allotment to the|||||-1,750,0||
|||||||-1,750,09|
|owners (or|||||94,662.||
|||||||4,662.00|
|shareholders)|||||00||
|3．Other|||||||
|(IV)Internal|||||||
||875,047,|||||875,047,3|
|transferring of|||||||
||331.00|||||31.00|
|owners’ equity|||||||
|1. Capitalizing of|||||||
|capital reserves (or|||||||
|to capital shares)|||||||
|2. Capitalizing of|||||||
|surplus reserves|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||
|-|-|-|-|-|-|-|
|(or to capital|||||||
|shares)|||||||
|3．Making up|||||||
|losses by surplus|||||||
|reserves.|||||||
||875,047,|||||875,047,3|
|4. Other|||||||
||331.00|||||31.00|
|(V) Special|||||||
|reserves|||||||
|1. Provided this|||||||
|year|||||||
|2．Used this term|||||||
|（VI）Other|||||||
||||||3,743,7||
|IV. Balance at the|5,250,28|5,607,138|366,750,5|5,812,191||20,780,15|
||||||87,421.||
|end of this term|3,986.00|,564.00|18.00|,775.00||2,264.00|
||||||00||

III．Basic Information of the Company
Guangdong Electric Power Development Co., Ltd. ("the Company") is a joint stock limited company jointly sponsored and established by Guangdong Electric Power Group Company, Guangdong Trust Investment Company under Construction Bank of China, Guangdong Electric Power Development Company, Guangdong International Trust Investment Company and Guangdong Development Bank (now as Guangdong Guangkong Co., Ltd.) on 8 September 1992,. At the time of establishment, the registered capital of the Company was 356,250,000 ordinary shares with par value of RMB 1 per share.
The Company issued 44,000,000 Renminbi denominated ordinary shares (“A shares”) and 105,000,000 domestically listed foreign shares (“B shares”) for listing on the Shenzhen Stock Exchange on 26 November 1993 and 28 June 1995 respectively. After this issuance, the total share capital of the Company increased to RMB 505,250,000.
The former major shareholder of the Company, was split into two separate companies, namely, Guangdong Power Grid Corporation ( “GPGC”,formerly Guangdong Guangdian Group Co., Ltd.”), and Guabngdong Yudean Group Co., Ltd.(“Yudean” formerly Guangdong Yudean Assets Management Co., Ltd.”). After restructuring, the electrictity transmission and distribution in Guangdong Province, The PRC, were controlled and managed by GPGC, while Yudean concentrated in the investment and management of power plants. According to the Reply to issues in the Restructuring of Provincial Power Companies assets with a document number of Yue Cai Qi (2001)No.247, theCompany’s50.15% equity interest formerly held by GPHC was transferred to Yudean on August 1,2001.
Pursuant to the Approval on the Share Reform Scheme of Guangdong Electric Power Development Co., Ltd. (Yue
Guo ZiHan[2005] No.452) issued by the State-owned Assets Supervision and Administration Commission of
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 Guangdong Province (Guangdong SASAC), the Company carried out the non-tradable share reform on 18 January 2006. The non-tradable shareholders paid 3.1 shares per 10 shares to the tradable A-share shareholders, who were registered on the date of the equity change registration (18 January 2006), and 121,357,577 legal person shares were paid in total.All the legal person shares can be traded on the Shenzhen Stock Exchange starting from 19 January 2006, but they are subject to lock-up periods ranging from one to three years.After the share reform,Yudean’s equity interest in the Company decreased to 46.34%. All corporate shares of the company hold tradable and listed the Shenzhen Stock Exchange, the convention of the restricted period ranging from 1-3 years. After the share reform,Yudean’s equity interest in the Company decreased to46.34%. Due to the selling restriction, 4,416,925 legal person shares originally held by
the non-tradable shareholders were still untradable as at 31 December 2014.
According to “Approval of Non-publicly Issued Shares for Guangdong Power Development Co.,Ltd”（CSRC License No.[2010]376）on April, 2010, The non-publicly issued A shares of parties, Yudean Group actually purchase 138,047,138 of A shares. After the non-public issued, the stock shares which were owned by Yudean Group Increased from46.34% to48.99%
Pursuant to the approval on the Restructuring Plan of Guangdong Yudean Group Co., Ltd and Guangdong Electric Power Development Co., Ltd., and the Approval on the Guangdong Electric Power Development Co., Ltd., Issuing Shares to Buy Assets of Guangdong Yudean Group Co., Ltd. Documents issued by the Stte-owned Assets Supervision and Administration Commission of Guangdong and accordingly referred to as Yue Guo Zi Han(2011) No.945 and Zheng Jian Xu Ke(2012) No.865, the Company non-public offered the domestic listed ordinary shares( A share) in December, 2012, 1 RMB in book value per share and 4.73 RMB is issue price per share, and the number of issued is 1,577,785,517, which once registered in Guangdong Yudean Group Co., Ltdcan’t transfer to others within 36 months. Yudean used its60% stake in Shenzhen Guangqian Electric Power Co., Ltd. (“Guangqian Electric”),35% stake in Guangdong Huizhou Natural Gas Power Co., Ltd. (“Huizhou Natural Gas”),40% stake in Guangdong Yudean Shibeishan Wind Power Co., Ltd. (“Shibeishan”),45% stake in
Guangdong Huizhou Pinghai Power Co., Ltd. (“Huizhou Pinghai”),40% stake in Guangdong Red Bay Power Generation Co., Ltd. (“Red Bay”),20% stake in Guangdong Guohua Yudean Taishan Generation Company (“Guohua Taishan”) and15% stake in Guangdong Electric Fuel Supply Co., Ltd. (“Fuel Supply”) (collectively referred to as “Targeted Assets”) to buy theCompany’s domestically listed ordinary shares (A shares). After the share issuance, the Company had a total of 4,375,236,655 shares in circulation, andYudean’s equity interest in the Company increased from48.99% to67.39%.
The profit distribution plan reviewed and approved by the boarding meeting was summarized as follows: Total share of 4,375,236,655 shares or Base on theCompany‘s total share capital, The Company would distribute 2 bonus for every 10 shares to all the shareholders.After the dividend, the total share capital increased to 5,250,283,986 shares, company has implemented and completed the equity distribution on June 26, 2015. The Company and its subsidiaries (the “Group”) are principally engaged in the susiness of developing electric power plants in Guangdong Province, the PRC. TheCompany’s registered address is 23 to 26 floor, Yudean Plaza, 2 Tianhe East Road, Guangzhou City, Guangdong Province, the PRC. Yudean Group is the Parent Company of the company.
State-owned Assets Supervision and Administration Commission, thePeople’s Govemment of Guangdong Province is the actual controller of the Company.
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.
These Financial Statements are released upon approval at the 12th meeting of the 8th term of Board held on
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 August 25, 2016.
Comfirmed the scope of consolidated financial statements, the control is the foundation, including and control the company, a subsidiary of the company. Control refers to the group has power over the investee, by participating in the relevant activities of the investors and have variable returns, and ability to use power to influence its return a mount of investee. Whether the group has power over the investee, this group is only considered by the investor re lated substantive rights (including enjoyed by the group itself and the substantive rights of the other).
Merge scope this year new newly established subsidiary of Guangdong Yudean Yongan Natural gas Thermal Pow er Co., Lt (see "this Note VIII, merge scope change", "the Note IX, in the rights and interests of other subject".) IV.Basis for the preparation of financial statements
1.Basis for the preparation
The Company's financial statements were compiled on the basis of the continuous operation assumption ,according to the actual transactions and events, and in accordance with the "enterprise accounting standards -basic standards" (Announcement on Decree No.33, the Ministry of Finance, Amendment on Decree No. 76 ,the Ministry of Finance) and 41 specific accounting standards, the enterprise accounting standards application guide, the enterprise accounting standards explanation and other relevant regulations (referring to "enterprise accounting standard" collectively) issued and revised on and after February 15, 2006, and the regulations on‘‘Information Disclosure Compilation Rules No. 15 by the Company issuing stocks publicly - general provisions of the financial report "(revising in 2014) disclosed by China Securities Supervision and Management Committee. 2. Continuous operation.
The Company since 12 months after the reporting period does not exist on the company's continued viability of si gnificant concern events or circumstances.
V. Significant accounting policies and accounting estimates
Specific accounting policies and accounting estimates tips:
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 18 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 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 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, 2016 as well as the business performance and cash flow situation in the first half of 2016 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, 2016 to 6 months ended June 3
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 0,2016.
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
A business combination involving enterprises under common control is a business combination in which all of the combining enterprises are ultimately controlled by the same party or parties both before and after the business combination, and that control is not transitory. The assets and liabilities obtained are measured at the carrying amounts as recorded by the enterprise being combined at the combination date. The difference between the carrying amount of the net assets obtained and the carrying amount of consideration paid for the combination (or the total par value of shares issued) is adjusted to share premium (or capital premium) in the capital reserve. If the balance of share premium (or capital premium) is insufficient, any excess is adjusted to retained earnings. Any costs directly attributable to the combination are recognised in profit or loss for the current period when occurred. The combination date is the date on which one combining enterprise effectively obtains control of the other combining enterprises.
(2) Business combinations not involving enterprises under common control
A business combination involving enterprises not under common control is a business combination in which all of the combining enterprises are not ultimately controlled by the same party or parties both before and after the business combination. Where 1) the aggregate of the fair value at the acquisition date of assets transferred (including theacquirer’s previously held equity interest in the acquiree), liabilities incurred or assumed, and equity securities issued by the acquirer, in exchange for control of the acquiree, exceeds 2) theacquirer’s interest in the fair value at the acquisition date of theacquiree’s identifiable net assets, the difference is recognised as goodwill (see Note V.26). Where 1) is less than 2), the difference is recognised in profit or loss for the current period. 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. Other acquisition-related costs arising from the business combination are recognised as expenses in the periods in which the costs are incurred. The difference between the fair value and the carrying amount of the assets transferred is recognised in profit or loss. Theacquiree’s identifiable assets, liabilities and contingent liabilities, if satisfying the recognition criteria, are recognised by the Group at their fair value at the acquisition date. The acquisition date is the date on which the acquirer effectively obtains control of the acquiree.
For a business combination not involving enterprises under common control and achieved in stages, the Group remeasures its previously-held equity interest in the acquiree to its fair value at the acquisition date and recognises any resulting difference between the fair value and the carrying amount as investment income for the current period. In addition, any amount recognised in other comprehensive income that can be reclassified to profit or loss, in prior reporting periods relating to the previously-held equity interest, and any other changes in theowners’ equity under equity accounting (see Note v. 12(2)(b)), are transferred to investment income in the period in which the acquisition occurs.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 6.Preparation of the consolidated financial statements
(1)General principle
The scope of consolidated financial statements is based on control and the consolidated financial statements comprise the Company and its subsidiaries. Control is the power to govern the financial and operating policies of the investee so as to obtain benefits from its operating activities, and the power to influence its investment return. In accessing control, the Group only takes into account the substantive rights relevant to the investee, including those entitled to the Group and other parties. The financial position, financial performance and cash flows of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases.
Non-controlling interests are presented separately in the consolidated balance sheet withinshareholders’ equity. Net profit or loss attributable to non-controlling shareholders is presented separately in the consolidated income statement below the net profit line item. Comprehensive income attributable to non-controlling shareholders is presented separately in the consolidated income statement below the total comprehensive income line item. When the amount of loss for the current period attributable to the non-controlling shareholders of a subsidiary exceeds the non-controllingshareholders’ portion of the opening balance ofowners’ equity of the subsidiary, the excess is allocated against the non-controlling interests.
When the accounting period or accounting policies of a subsidiary are different from those of the Company, the Company makes necessary adjustments to the financial statements of the subsidiary based on theCompany’s own accounting period or accounting policies. Intra-group balances and transactions, and any unrealised profit or loss arising from intra-group transactions, are eliminated in preparing the consolidated financial statements. Unrealised losses resulting from intra-group transactions are eliminated in the same way as unrealised gains, but only to the extent that there is no evidence of impairment
(2)Acquisition of subsidiaries throuth business combinations
Where a subsidiary was acquired during the reporting period, through a business combination involving enterprises under common control, the financial statements of the subsidiary are included in the consolidated financial statements as if the combination had occurred at the date that the ultimate controlling party first obtained control. The opening balances and the comparative figures of the consolidated financial statements are also restated.
Where a subsidiary was acquired during the reporting period, through a business combination involving enterprises not under common control, the identifiable assets and liabilities of the acquired subsidiaries are included in the scope of consolidation from the date that control commences, based on the fair value of those identifiable assets and liabilities at the acquisition date.
(3)Disposal of subsidiaries
When the Group loses control of a subsidiary due to the disposal of a portion of an equity investment, the Group derecognises assets, liabilities, non-controlling interests and other related items inowners’ equity in relation to that subsidiary. The remaining equity investment is remeasured at its fair value at the date when control is lost. Any gains or losses therefor incurred are recognised as investment income for the current period when control is lost.
When the disposal of a long-term equity investment in a subsidiary is achieved through multiple deals in stages to the extent that the control of the subsidiary is lost, apply the following criteria to determine whether these deals can be defined as a package deal:
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 - these deals are concluded simultaneously or taking into account the inter-relations of each deal;
- only when all the deals are combined can complete business results be achieved;
- the existence of a deal is dependent on the existence of at least one other deal;
- a deal is uneconomical when considered separately, but economical when considered in combination with other deals.
If the deals do not satisfy the above criteria, deals before the loss of control of will be accounted for based on the accounting policy set out for the disposal of a portion of an equity investment in an subsidiary when the Group still has control (see Note V. 6(4)). If the deals satisfy the above criteria, the deals will be accounted for as the disposal of a subsidiary where control is lost.
(4)Changes in non-controlling interests
Where the Company acquires a non-controlling interest from asubsidiary’s non-controlling shareholders or disposes of a portion of an interest in a subsidiary without a change in control, the difference between the amount by which the non-controlling interests are adjusted and the amount of the consideration paid or received is adjusted to the capital reserve (share premium) in the consolidated balance sheet. If the credit balance of capital reserve (share premium) is insufficient, any excess is adjusted to retained earnings.
7.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.
8.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.16), 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.
9.Financial instruments
Financial instruments include cash at bank and on hand, receivables, equity securities other than long-term equity investments (see Note V.12), payables, loans and borrowings, debentures payable and share capital.
(1) Recognition and measurement of financial assets and financial liabilities
A financial asset or financial liability is recognised in the balance sheet when the Group becomes a party to the contractual provisions of a financial instrument.
The Group classifies financial assets and liabilities into different categories at initial recognition based on the purpose of acquiring assets or assuming liabilities: financial assets and financial liabilities at fair value through
profit or loss, loans and receivables, held-to-maturity investments, available-for-sale financial assets and other
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 financial liabilities.
During the year, theGroup’s financial assets include receivables and available-for-sale financial assets. TheGroup’s financial liabilities are mainly other financial liabilities, including payables, loans and borrowings, and debentures payable. Payables include accounts payable, other payables, bills payable and long-term payables. Financial assets and financial liabilities are measured initially at fair value. Transaction costs attributable to receivables and available-for-sale financial assets and liabilities are included in their initial costs. Subsequent to initial recognition, financial assets and liabilities are measured as follows:
- Receivables
Receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. -
Subsequent to initial recognition, receivables are measured at amortised cost using the effective interest method.
- 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. Available-for-sale investments in equity instruments whose fair value cannot be measured reliably are measured at cost subsequent to initial recognition. Other available-for-sale financial assets are measured at fair value subsequent to initial recognition and changes therein, except for impairment losses and foreign exchange gains and losses from monetary financial assets which are recognised directly in profit or loss, are recognised as other comprehensive income. When an investment is derecognised, the cumulative gain or loss is reclassified from equity to profit or loss. Dividend income from the available-for-sale equity instruments is recognised in profit or loss when the investee declares the dividends. Interest on available-for-sale financial assets calculated using the effective interest method is recognised in profit or loss (see Note V. 22(5)).
- Other financial liabilities
Financial liabilities other than the financial liabilities at fair value through profit or loss are classified as other financial liabilities.
Other financial liabilities include the liabilities arising from financial guarantee contracts. Financial guarantees are contracts that require the Group (i.e. the guarantor) to make specified payments to reimburse the beneficiary of the guarantee (the holder) for a loss the holder incurs because a specified debtor fails to make payment when due in accordance with the terms of a debt instrument. Where the Group issues a financial guarantee, subsequent to initial recognition, the guarantee is measured at the higher of the amount initially recognised less accumulated amortisation and the amount of a provision determined in accordance with the principles of contingencies (see Note V. 21).
Except for the liabilities arising from financial guarantee contracts described above, subsequent to initial recognition, other financial liabilities are measured at amortised cost using the effective interest method.
(2) Presentation of financial assets and financial liabilities
Financial assets and financial liabilities are presented separately in the balance sheet, and are not offset. However, a financial asset and a financial liability are offset and the net amount is presented in the balance sheet when both of the following conditions are satisfied:
- the Group has a legal right to set off the recognised amounts and the legal right is currently enforceable;
- the Group intends either to settle on a net basis, or to realise the financial asset and settle the financial liability simultaneously.
(3) Derecognition of financial assets and financial liabilities
A financial asset is derecognised if theGroup’s contractual rights to the cash flows from the financial asset
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 expire or if the Group transfers substantially all the risks and rewards of ownership of the financial asset to another party.
Where a transfer of a financial asset in its entirety meets the criteria for derecognition, the difference between the two amounts below is recognised in profit or loss:
- the carrying amount of the financial assettransferred；
- the sum of the consideration received from the transfer and any cumulative gain or loss that has been recognised directly inshareholders’ equity.
The Group derecognises a financial liability (or part of it) only when the underlying present obligation (or part of it) is discharged, cancelled or expired.
(4) Impairment of financial assets
The carrying amounts of financial assets (other than those at fair value through profit or loss) are reviewed at each balance sheet date to determine whether there is objective evidence of impairment. If any such evidence exists, an impairment loss is recognised. Objective evidence that a financial asset is impaired includes but is not limited to:
(a) significant financial difficulty of the issuer orobligor；
(b) a breach of contract by the borrower, such as a default or delinquency in interest or principal payments; (c) it becoming probable that the borrower will enter bankruptcy or other financialreorganisation；
(d) the disappearance of an active market for that financial asset because of financial difficulties faced by the issuer;
(e) significant changes with an adverse effect that have taken place in the technological, market, economic or legal environment in which the issuer operates, indicating that the cost of an investment in an equity instrument may not be recovered by the investor;
(f) a significant decline in the fair value (i.e. the fair value becomes50% or more lower than the initial investment cost) or a prolonged decline in the fair value (i.e. the fair value persisting at a level lower than the initial investment cost for a year or longer) of an investment in an equity instrument below its cost. If the fair value of the investment becomes20% (or more) but less than50% lower than its initial cost at the balance sheet date, the Group considers other related factors (such as fluctuations in prices) on the whole to determine whether the investment is impaired.
For the calculation method of impairment of receivables, please refer to Note V.10. The impairment of available-for-sale financial assets is measured as follows:
- Available-for-sale financial assets
Available-for-sale financial assets are assessed for impairment both on an individual basis and on a collective group basis. When an available-for-sale financial asset is impaired, the cumulative loss arising from decline in fair value that has been recognised directly inshareholders’ equity is reclassified to profit or loss even though the financial asset has not been derecognised.
If, after an impairment loss has been recognised on an available-for-sale debt instrument, the fair value of the debt instrument increases in a subsequent period and the increase can be objectively related to an event occurring after the impairment loss was recognised, the impairment loss is reversed through profit or loss. An impairment loss recognised for an investment in an equity instrument classified as available-for-sale is not reversed through profit or loss. However, the impairment loss recognised for equity instruments whose fair value cannot be measured reliably that are not quoted in an active market cannot be reversed.
(5) Equity instrument
The consideration received from the issuance of equity instruments net of transaction costs is recognised inshareholders’ equity.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 10.Account receivable
（1）Bad debt provision on receivable accounts with major amount individually
|||
|-|-|
||The Company and its subsidiaries, or other receivables or all|
|Criteria and norm of individual significance|long-term receivables of more than RMB 5 million in the|
||financial statements of the Company and its subsidiaries.|
||The Group tests such receivables for impairment on an|
|Measurement of impairment allowances for receivables of individual|individual basis. For individually insignificant receivables,|
|significance|the Group tests them for impairment on an individual basis|
||when there is evidence of impairment.|

（2）Accounts receivable with material specific amount and specific provisioned bad debt preparation.
|||
|-|-|
||When objective evidence indicates the Group can’t receive money according|
|Bad debt recognition criterion||
||originalterms, provision for bad debts recognized.|
||The bad debt will be recognized when the present value of estimated future cash flow|
|Bad debt provision method||
||below their book value.|

11 Inventories
(1) Classification and cost
Inventories include fuel and spare parts. Inventories are initially measured at cost. Cost of inventories comprises all costs of purchase and other expenditures incurred in bringing the inventories to their present location and condition.
（2）Pricing method of stock delivered
Cost of fuel transferred out is calculated using the weighted average method. Spart parts are amortised in full when received for use.
(3) Basis for determining the net realisable value of inventories and provisioning methods for decline in value of inventories
At the balance sheet date, inventories are carried at the lower of cost and net realisable value.
At the balance sheet date, inventories are carried at the lower of cost and net realisable value.
Net realisable value is the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale and relevant taxes.
（4）Inventory system
Perpetual inventory
The group adopts perpetual inventory system.
12.Long-term eqiuty investment
(1)Investment cost of long-term eqiuty investment
(a)Long-term equity investments acquired through a business combination
- The initial cost of a long-term equity investment acquired through a business combination involving enterprises
under common control is theCompany’s share of the carrying amount of thesubsidiary’s equity in the
consolidated financial statements of the ultimate controlling party at the combination date. The difference
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 between the initial investment cost and the carrying amount of the consideration given is adjusted to share premium in the capital reserve, with any excess adjusted against retained earnings.
- For a long-term equity investment obtained through a business combination not involving enterprises under common control, the initial cost comprises the aggregate of the fair value of assets transferred, liabilities incurred or assumed, and equity securities issued by the Company, in exchange for control of the acquiree. For a
long-term equity investment obtained through a business combination not involving enterprises under common control and achieved through multiple transactions in stages which do not form a bundled transaction, the initial cost comprises the carrying amount of the previously-held equity investment in the acquiree immediately before the acquisition date, and the additional investment cost at the acquisition date
(b)Long-term equity investments acquired other than ghrough a business combination
- A long-term equity investment acquired other than through a business combination is initially recognised at the actual consideration paid if the Group acquires the investment by cash, or at the fair value of the equity securities issued if an investment is acquired by issuing equity securities, or at the value stipulated in the investment contract or agreement if an investment is contributed by shareholders.
(2)Subsequent measurement
(a)Investments in subsidiaries
In theCompany’s separate financial statements, long-term equity investments in subsidiaries are accounted for using the cost method for subsequent measurement. Except for cash dividends or profit distributions declared but not yet distributed that have been included in the price or consideration paid in obtaining the investments, the Company recognises its share of the cash dividends or profit distributions declared by the investee as investment income in the current period.
The investments in subsidiaries are stated in the balance sheet at cost less accumulated impairment losses. (b)Investment in joint ventures and associates
A joint venture is an enterprise which operates under joint control in accordance with a contractual agreement between the Group and other parties.
An associate is an enterprise over which the Group has significant influence.
An investment in a joint venture or an associate is accounted for using the equity method for subsequent measurement, unless the investment is classified as held for sale.
Under the equity method:
- Where the initial cost of a long-term equity investment exceeds theGroup’s interest in the fair value of theinvestee’s identifiable net assets at the date of acquisition, the investment is initially recognised at cost. Where the initial investment cost is less than theGroup’s interest in the fair value of theinvestee’s identifiable net assets at the date of acquisition, the investment is initially recognised at theinvestor’s share of the fair value of theinvestee’s identifiable net assets, and the difference is recognised in profit or loss.
- After the acquisition of the investment, the Group recognises its share of theinvestee’s net profit or loss and other comprehensive income as investment income or losses and other comprehensive income respectively, and adjusts the carrying amount of the investment accordingly. Once the investee declares any cash dividends or profit distributions, the carrying amount of the investment is reduced by that amount attributable to the Group. The Group adjusts the carrying amount of the long-term equity investment for changes inowners’ equity of the investee other than those arising from net profits or losses, other comprehensive income or profit distributions, and recognises the corresponding adjustment inshareholders’ equity.
The Group recognises its share of theinvestee’s net profits or losses as investment income and other comprehensive income after making appropriate adjustments to align the accounting policies or accounting periods with those of the Group based on the fair value of theinvestee’s identifiable net assets at the date of
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 acquisition. Unrealised profits and losses resulting from transactions between the Group and its
associates or joint ventures are eliminated to the extent of theGroup’s interest in the associates or joint ventures. Unrealised losses resulting from transactions between the Group and its associates or joint ventures are eliminated in the same way as unrealised gains but only to the extent that there is no evidence of impairment.
- The Group discontinues recognising its share of further losses of the investee after the carrying amount of the long-term equity investment and any long-term interest that in substance forms part of theGroup’s net investment in the joint venture or associate is reduced to zero, except to the extent that the Group has an obligation to assume additional losses. If the joint venture or associate subsequently reports net profits, the Group resumes recognising its share of those profits only after its share of the profits equals the share of losses not recognised. (3) Basis for determining the existence of joint control or significant influence over an
investee
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 parties sharing the control. The following factors are usually considered when assessing whether the Group can exercise joint control over an investee:
- Whether no single investor is in a position to control theinvestee’s operating
activities unilaterally;
- Whether strategic decisions relating to theinvestee’s main operating activities require the unanimous consent of all investors;
Significant influence is the power to participate in the financial and operating policy decisions of an investee but does not have control or joint control over those policies.
13.Investment properties
The measurement mode of investment property
The measurement by the cost method
Depreciation or amortization method
Investment properties are properties held either to earn rental income or for capital appreciation or for both. Investment properties are accounted for using the cost model and stated in the balance sheet at cost less accumulated depreciation, amortisation and impairment losses. The cost of investment property, less its estimated residual value and accumulated impairment losses, is depreciated using the straight-line method over its estimated useful life, unless the investment property is classified as held for sale. For the method of impairment testing and measurement, please refer to Note V. 18.
The estimated useful lives, residual value rates and depreciation rates of each class of investment properties are as follows:
Item Estimated useful life (years) Residual value rate(%) Depreciation rate(%) Plant and buildings 30 years 5% 3.17% 14.Fixed assets
（1）Recognition of fixed assets
Fixed assets represent the tangible assets held by the Group for use in the generation of electricity or for
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 administrative purposes with useful lives of more than one accounting year. The initial cost of a purchased fixed asset comprises the purchase price, related taxes, and any directly attributable expenditure for bringing the asset to working condition for its intended use. The initial cost of self-constructed assets is measured in accordance with the policy set out in Note V.15. Fixed assets contributed by state-owned shareholders at the incorporation of the Company are initially recorded at the valuation amount recognised by the state-owned assets supervision and administration department. Where the parts of an item of fixed assets have different useful lives or provide benefits to the Group in a different pattern, thus necessitating use of different depreciation rates or methods, each part is recognised as a separate fixed asset. The subsequent costs including the cost of replacing part of an item of fixed assets are recognised as assets when it is probable that the economic benefits associated with teh costs will flow to the Goup, and the carrying amount of the replaced part is derecognised. The costs of the day-to-day maintenance of fixed assets are recognised in profit or loss as incurred. Fixed assets are stated in the balance sheet at cost less accumulated depreciation and impairment losses.
（2）Depreciation of fixed assets
||||||
|-|-|-|-|-|
||The method for|Expected useful life|||
|Category|||Estimated residual value|Depreciation|
||depreciation|（Year）|||
||Straight-line method||||
|House and building||10-50 years|0-10%|1.80%-10.00%|
|Generation equipment|Straight-line method|6-31 years|0-10%|2.90%-16.67%|
|Transportation|Straight-line method||||
|||5-10 years|0-10%|9.00%-20.00%|
|equipment|||||
|Other equipment|Straight-line method|5-25 years|0-10%|3.60%-20.00%|

(3)Cognizance evidence and pricing method of financial leasing fixed assets
On the inception date of lease, theGroup’s asset under financing lease takes the lower one between the fair value of the lease asset on the inception date of lease and the minimum lease payment as the book value of the rented asset, of whose balance will be confirmed as unconfirmed finance charges. The Group will directly charge the initiation for the finance lease occurred to rented asset value. The rented asset of finance lease will be depreciated according to the depreciation policy described in 14(2) of Note 5, and will be summed and drawn according to the accounting policy described in 18 of Note 5. For the rented asset which can be reasonably confirmed to obtain the rented asset ownership at the lease expiration will be depreciated within its service life. Otherwise, the one with a shorter period between the rented asset during the lease period and the service life of the rented asset will be depreciated. The Group will apply effective interest method to allocate uncertain finance charges at various periods within the lease period, and which will be handled according to the principle of borrowing costs(see 16 of Note 5). Date of Balance Sheet, the Group will subtract the balance of uncertain finance charges from the long-term payables related with the finance lease, which will be respectively shown as a long-term debt and the long-term debt to be matured within 1 year. Sale and leaseback means that after the seller (the lessee) sell out one self-produced or one purchased asset, then buy it back from the buyer(the leaser). When the economic substance of one sale and leaseback constitutes one finance lease, the sales
price and the balance ofasset’s book value will be deferred, and will be allocated by the leaseasset’s depreciation
life, which is as the adjustment of depreciation expense.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 15.Construction in progress
The cost of self-constructed assets includes the construction cost, installation cost, cost of materials, direct labour, capitalised borrowing costs (see Note V.16), and any other costs directly attributable to bringing the asset to working condition for its intended use. The cost of self-constructed fixed assets includes the cost incurred less income generated during the test run before the generator units are launched into operation.
A self-constructed asset is included in construction in progress before it is transferred to fixed asset when it is ready for its intended use. No depreciation is provided against construction in progress.
Construction in progress is stated in the balance sheet at cost less accumulated impairment losses (see Note V.18).
16.Borrowing costs
Borrowing costs incurred directly attributable to the acquisition or construction of a qualifying asset are capitalised as part of the cost of the asset. Other borrowing costs are recognised as financial expenses when incurred.
During the capitalisation period, the amount of interest (including amortisation of any discount or premium on borrowing) to be capitalised in each accounting period is determined as follows:
- Where funds are borrowed specifically for the acquisition or construction of a qualifying asset, the amount of interest to be capitalised is the interest expense calculated using effective interest rates during the period less any interest income earned from depositing the borrowed funds or any investment income on the temporary investment of those funds before being used on the asset.
- Where funds are borrowed generally and used for the acquisition or construction of a qualifying asset, the amount of interest to be capitalised on such borrowings is determined by applying a capitalisation rate to the weighted average of the excess amounts of cumulative expenditures on the asset over the above amounts of specific borrowings. The capitalisation rate is the weighted average of the interest rates applicable to the general-purpose borrowings.
The effective interest rate is determined as the rate that exactly discounts estimated future cash flow through the expected life of the borrowing or, when appropriate, a shorter period to the initially recognised amount of the borrowings.
During the capitalisation period, exchange differences related to the principal and interest on a specific-purpose borrowing denominated in foreign currency are capitalised as part of the cost of the qualifying asset. The exchange differences related to the principal and interest on foreign currency borrowings other than a specific-purpose borrowing are recognised as a financial expense in the period in which they are incurred. The capitalisation period is the period from the date of commencement of capitalisation of borrowing costs to the date of cessation of capitalisation, excluding any period over which capitalisation is suspended. Capitalisation of borrowing costs commences when expenditure for the asset is being incurred, borrowing costs are being incurred and activities of acquisition or construction that are necessary to prepare the asset for its intended use are in progress, and ceases when the assets become ready for their intended use. Capitalisation of borrowing costs is suspended when the acquisition or construction activities are interrupted abnormally and the interruption lasts for more than three months.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 17.Intangible assets
1. Valuation Method, Service Life and Impairment Test of Intangible Assets
Intangible assets are stated in the balance sheet at cost less accumulated amortisation (where the estimated useful life is finite) and impairment losses (see Note V.18). For an intangible asset with finite useful life, its cost less estimated residual value and accumulated impairment losses is amortised using the straight-line method over its estimated useful life, unless the intangible asset is classified as held for sale.
Intangible assets mainly including land use rights, sea use rights, software, concession contracts, 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. 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. Associated projects for electricity transmission and transformation and microwave engineering are for the grid connection project between the Guangdong Electric Holding Co., and Guangdong Power Grid Corporation.
The respective amortisation periods for such intangible assets are as follows:
Items Amortisation period ( years)
Associated project for electricity
transmission and transformation,
microwave engineering 16 years
Land use right 20– 70 years
Sea use right 50 years
Transportation engineering 10– 20 years
Concession contracts 10– 25 year
Software 2– 10 years
Not-patent technology and other 2– 6 years
An intangible asset is regarded as having an indefinite useful life and is not amortised when there is no foreseeable limit to the period over which the asset is expected to generate economic benefits for the Group. At the balance sheet date, the Group does not have any intangible assets with indefinite useful lives.
18.Long-term assets impairment
The carrying amounts of the following asswets are reviewed at each balance sheet date based on the internalandexternal sources of information to determine whether thire is and indication of impairment: fixed assets,construction in progress, construction materials, intangible assets, investment properties, measured using a cost model , long-term equity investments , Goodwill and long-term deferred expenses.
If any indication exists that an asset may be impaired, the recoverable amount of the asset is estimated. In addition, the Group estimates the recoverable amounts of goodwill at each year-end, irrespective of whether there is any indication of impairment. Goodwill is allocated to each asset group or set of asset groups, that is expected to
benefit from the synergies of the combination for the purpose of impairment testing.
The recoverable amount of an asset, asset group or set of asset groups is the higher of its fair value less costs to sell and its present value of expected future cash flows.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 An asset group is the smallest identifiable group of assets that generates cash inflows that are largely independent of the cash inflows from other assets or asset groups. An asset group is composed of assets directly relating to cash-generation. Identification of an asset group is based on whether major cash inflows generated by the asset group are largely independent of the cash inflows from other assets or asset groups. In identifying an asset group, the Group also considers how management monitors theGroup’s operations and how management makes decisions about continuing or disposing of theGroup’s assets.
Anasset’s fair value less costs to sell is the amount determined by the price of a sale agreement in anarm’s length transaction, less the costs that are directly attributable to the disposal of the asset. The present value of expected future cash flows of an asset is determined by discounting the future cash flows, estimated to be derived from continuing use of the asset and from its ultimate disposal, to their present value using an appropriate pre-tax discount rate.
If the result of the recoverable amount calculation indicates the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. That reduction is recognised as an impairment loss and charged to profit or loss for the current period. A provision for impairment of the asset is recognised accordingly. For impairment losses related to an asset group or a set of asset
groups, first reduce the carrying amount of any goodwill allocated to the asset group or set of asset groups, and then reduce the carrying amount of the other assets in the asset group or set of asset groups on a pro rata basis. However, the carrying amount of an impaired asset will not be lower than the greatest amount of its individual fair value less costs to sell (if determinable), the present value of expected future cash flows (if determinable) and zero.
Once an impairment loss is recognised, it is not reversed in a subsequent period.
19.Long-term deferred expenses
Long-term deferred expenses are amortised using a straight-line method within the benefit period. The respective amortisation periods for such expenses are asfollows：
Items Amortisation period
Expenses on improvement of fixed assets 15– 180 months
Long-term lease expenses 79– 180 months
20. Employee benefits
(1) Short-term employee benefits
Employee wages or salaries, bonuses, social security contributions such as medical insurance, work injury insurance, maternity insurance and housing fund, measured at the amount incurred or at the applicable benchmarks and rates, are recognised as a liability as the employee provides services, with a corresponding charge to profit or loss or included in the cost of assets where appropriate.
（2）Post–employment benefits
Pursuant to the relevant laws and regulations of thePeople’s Republic of China, the Group participated in a defined contribution basic pension insurance in the social insurance system established and managed by government organisations. The Company makes contributions to basic pension insurance plans based on the applicable benchmarks and rates stipulated by the government. The Company also purchases and makes contributions to supplementary pension insurance based on the applicable benchmarks and rates stipulated by Yudean. Basic pension and supplementary pension insurance contributions are recognised as a liability as the
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 related services are rendered by the employees, with a corresponding charge to profit or loss or included in the cost of assets where appropriate.
(3) Termination benefits
When the Company terminates the employment with employees before the employment contracts expire, or provides compensation under an offer to encourage employees to accept voluntary redundancy, a provision is recognised with a corresponding expense in profit or loss at the earlier of the following dates:
- The Group is not allowed to withdraw from termination plan or redundancy offer unilaterally;
- The Group has a detailed and formal restructuring plan related to the payment of termination benefits; and the Group has launched the plan or notified the affected parties of its content, thereby making the restructuring plan reasonably expected by all related parties.
(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.
21. 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
22. Revenue
Revenue is the gross inflow of economic benefit arising in the course of theGroup’s ordinary activities when the inflows result in increase inshareholders’ equity, other than increase relating to contributions from shareholders. 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 are met. The amount of revenue is measured at the fair value of the consideration received or receivable under the sales contract or agreement. Revenue is shown net of sales discounts or refunds.
(1) Revenue from sales of electricity and heat energy
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 Revenue is recognised when electricity and heat energy are supplied to grid companies or customers.
(2) Revenue from sales of by-products
Revenue from the sales of goods is recognised when the Group transfers by-products (such as coal ash) to the designated delivery place pursuant to the contract or agreement and the recipient confirms receipt.
(3) 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.
At the balance sheet date, where the outcome of a transaction involving the rendering of services can be estimated reliably, revenue from the rendering of services is recognised by reference to the stage of completion of the transaction based on the proportion of costs incurred to date to the estimated total costs.
Where the outcome of rendering of services cannot be estimated reliably, if the costs incurred are expected to be recoverable, revenues are recognised to the extent of the costs incurred that are expected to be recoverable, and an equivalent amount is charged to profit or loss as service cost; if the costs incurred are not expected to be recoverable, the costs incurred are recognised in profit or loss and no service revenue is recognised.
(4) Revenue from sale of certified emission reductions (CERs)
The Company sells CERs provided by its wind power facilities. These wind power 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 amount of income from selling CERs or VERs can be reliably measured
- The Company has generated the related electricity
(5) Interest income
Interest income is recognised based on the length of time of the deposits or principal outstanding and the applicable effective interest rate.
(6) Revenue from operating leases
Rental income from operating leases is recognised as income on a straight-line basis over the lease term.
23.Government subsidy
1. Judgment Basis and Accounting Treatment Method of Government Grants related to Assets
Government grants related to assets are grants whose primary condition is that the Group qualifying for them should purchase, construct or otherwise acquire long-term assets. Government grants related to income are grants other than those related to assets.
2. Judgment Basis and Accounting Treatment Method of Government subsidy related to Income
A grant that compensates the Group for expenses to be incurred in the subsequent periods is recognised initially as deferred income and recognised in profit or loss in the same periods in which the expenses are recognised. A grant that compensates the Group for expenses incurred is recognised in profit or loss immediately.
24. Deferred income tax assets/Deferred income tax liability
At the balance sheet date, current tax assets and liabilities are offset if the Group has a legally enforceable right
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 to set them off and also intends either to settle on a net basis or to realise the asset and settle the liability
simultaneously.
Deferred tax assets and deferred tax liabilities arise from deductible and taxable temporary differences respectively, being the differences between the carrying amounts of assets and liabilities for financial reporting purposes and their tax bases, which include the deductible losses and tax credits carried forward to subsequent periods. Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which deductible temporary differences can be utilised.
Deferred tax is not recognised for the temporary differences arising from the initial recognition of assets or liabilities in a transaction that is not a business combination and that affects neither accounting profit nor taxable profit (or tax loss). Deferred tax is not recognised for taxable temporary differences arising from the initial recognition of goodwill.
At the balance sheet date, the amount of deferred tax recognised is measured based on the expected manner of recovery or settlement of the carrying amount of the assets and liabilities, using tax rates that are expected to be applied in the period when the asset is recovered or the liability is settled in accordance with tax laws.
The carrying amount of a deferred tax asset is reviewed at each balance sheet date. The carrying amount of a deferred tax asset is reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow the benefit of the deferred tax asset to be utilised. Such reduction is reversed to the extent that it becomes probable that sufficient taxable profits will be available.
At the balance sheet date, deferred tax assets and deferred tax liabilities are offset if all the following conditions are met:
- the taxable entity has a legally enforceable right to offset current tax liabilities and current tax assets
- they relate to income taxes levied by the same tax authority on either: the same taxable entity; or
different taxable entities which intend either to settle the current tax liabilities and current tax assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or deferred tax assets are expected to be settled or recovered.
25.Leasing
（1）Accounting of operational leasing
(1) Operating lease charges
Rental payments under operating leases are recognised as part of the cost of another related asset or as expenses on a straight-line basis over the lease term.
(2) Assets leased out under operating leases
Fixed assets leased out under operating leases, except for investment properties (see Note V.13), are depreciated in accordance with theGroup’s depreciation policies described in Note V.14 (2). Impairment losses are recognised in accordance with the accounting policy described in Note V.18. Income derived from operating leases is recognised in the profit or loss using the straight-line method over the lease term. If initial direct costs incurred in respect of the assets leased out are material, the costs are initially capitalised and subsequently amortised in profit or loss over the lease term on the same basis as the lease income. Otherwise, the costs are charged to profit or loss immediately.
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016（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. At the commencement of the lease term, the minimum lease payments are recorded as long-term payables. The difference between the fair value of the leased assets and the minimum lease payments is recognised as unrecognised finance charges. Initial direct costs that are attributable to a finance lease incurred by the Group are added to the amounts recognised for the leased asset. Depreciation and impairment losses are accounted for in accordance with the accounting policies described in Notes v.14 (2) and Notesv.18, respectively.
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.
Unrecognised finance charge under finance lease is amortised using an effective interest method over the lease term. The amortisation is accounted for in accordance with the principles of borrowing costs (see Note V.16). At the balance sheet date, long-term payables arising from finance leases, net of the unrecognised finance charges, are separately presented as long-term payables or non-current liabilities due within one year, respectively, in the balance sheet.
Leaseback is a transaction in which the seller (the lessee) sells a self-made or purchased asset, then leases it back from the buyer (the lender) for a long-term period. When a sale and leaseback transaction is considered to be a financing lease in economic substance, the difference between the selling price and theasset’s carrying amount will be deferred and allocated based on the depreciation years of the leased asset and recorded as an adjustment to the depreciation expense
26. Other significant accounting policies and estimates
（1）Goodwill
The initial cost of goodwill represents the excess of cost of acquisition over theacquirer’s interest in the fair value of the identifiable net assets of the acquiree under the business combination not involving enterprises under common control.
Goodwill is not amortised and is stated in the balance sheet at cost less accumulated impairment losses (see Note V.18). On disposal of an asset group or a set of asset groups, any attributable amount of purchased goodwill is written off and included in the calculation of the profit or loss on disposal.
（2）Fair value measurement
Unless otherwise specified, the Group determines fair value measurement as below:
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
When measuring fair value, the Company takes into account the characteristics of the particular asset or liability (including the condition and location of the asset and restrictions, if any, on the sale or use of the asset) that market participants would consider when pricing the asset or liability at the measurement date, and uses valuation techniques that are appropriate in the circumstances and for which sufficient data and other information are available to measure fair value. Valuation techniques mainly include the market approach, the income approach and the cost approach.
（3）Income tax
Current tax and deferred tax are recognised in profit or loss except to the extent that they relate to a business combination or items recognised directly in equity (including other comprehensive income).
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 Current tax is the expected tax payable calculated at the applicable tax rate on taxable income for the year, plus any adjustment to tax payable in respect of previous years.
（4）Profit distributions to shareholders
Dividends or profit distributions proposed in the profit appropriation plan, which will be authorised and declared after the balance sheet date, are not recognised as a liability at the balance sheet date but disclosed in the notes separately.
（5）Related parties
If a party has the power to control, jointly control or exercise significant influence over another party, or vice versa, or where two or more parties are subject to common control or joint control from another party, they are considered to be related parties. Related parties may be individuals or enterprises. Enterprises with which the Company is under common control only from the State and that have no other related party relationships are not regarded as related parties of the Group.
（6）Segment reporting
Reportable segments are identified based on operating segments which are determined based on the structure of theGroup’s internal organisation, management requirements and internal reporting system, taking into account the materiality principle. Two or more operating segments may be aggregated into a single operating segment if the segments have similar economic characteristics and are same or similar in respect of the nature of eachsegment’s product and service, the nature of production processes, the types or classes of customers for the products and services, the methods used to distribute the products or provide the services, and the nature of the regulatory environment.
Inter-segment revenues are measured on the basis of the actual transaction price for such transactions for segment reporting. Segment accounting policies are consistent with those for the consolidated financial statements.（7）Significant accounting estimates and judgments
The preparation of the financial statements requires management to make estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates as well as underlying assumptions uncertainties involved are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised and in any future periods affected.
TheGroup’s key sources of estimation uncertainties are as follows:
(a) Impairment of assets other than inventories and financial assets
As described in Note V.18, assets other than inventories and financial assets are reviewed at each balance sheet date to determine whether the carrying amount exceeds the recoverable amount of the assets. If any such indication that the carrying amount of long-term assets may not be fully recovered exists, the related assets will be deemed as impaired, and an impairment loss is recognised.
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 repeated 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 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 and the actual applicable tax rates affect the amount of deferred tax assets that should be recognised. 27.Change of main accounting policies and estimations
(1)Change of main accounting policies
□Applicable√Not applicable
（2）Change of main accounting estimations
□Applicable√Not applicable
28.Other
VI.Taxation
1.Main categories and rates of taxes
||||
|-|-|-|
|Tax items|Tax basis|Tax rate|
||Output VAT is calculated on product sales||
||and taxable services revenue, based on tax||
|VAT|laws. The remainning balance of output|17%、13%、3%、5%、11%、6%|
||VAT , after subtracting the deductible input||
||VAT of the period, is VAT payable.||
|||5%，Since May 1, 2016, the business tax|
|Business tax|Taxable turnover||
|||reform VAT|
|City maintenance construction tax|Value added tax and Business tax amount|5% - 7%|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|||The corporate tax rate applicable to the|
|||Group and its subsidiaries was 25%, with|
|Enterprise income tax|Taxable income|the exception of the subsidiary, Guangdong|
|||Xuwen Wind Electric Power Co., Ltd.|
|||(“Xuwen Wind”).|
|Education surtax|Value added tax and Business tax amount|3%|
|Local surcharge for Education|Value added tax and Business tax amount|2%|

In case there exist any taxpayer paying corporate income tax at different tax rates, disclose the information
|||
|-|-|
|Name of taxpayer|Income tax rates|
|Guangdong Yudean Xuwen Wind Power Co., Ltd.|12.5%|

2.Tax preferences
Pursuant to the approval documents (Cai Shui[2008] No.46 and Guo Shui Fa[2009] No.80), Xuwen Wind 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 posted profits for the first time in 2012, the applicable corporate income tax rate for Xuwen Wind is12.5% in 2016 (2014:0%).
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 and Huilai Wind Power Co., Ltd. (“Huilai Wind”) will be refunded immediately in accordance with the Notice Concerning Value Added Tax Policies on Wind Power Generation (Notice Cai Shui[2015] No.74).
3.Other
VII. Notes of consolidated financial statements
1. Currency funds
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Cash|109,716.00|78,223.00|
|Bank deposit|6,108,051,117.00|5,227,328,502.00|
|Other||10,000,000.00|
|Total|6,108,160,833.00|5,237,406,725.00|

 Other notes
Deposits with Yudean Finance refers to the deposits placed with Guangdong Yudean Finance Co., Ltd.
(“Yudean Finance”). Yudean Finance is a financial institution established with the approval of thePeople’s Bank
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 of China. Yudean is the parent company of Yudean Finance.
2.Account receivable
（1）Classification Account receivable :
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Year-end balance|||||Year-beginning balance|||||
||||Provision for bad||||||||
||Book balance||||Book|Book balance||Provision for bad debts|||
|Classification|||debts|||||||Book Value|
||||||Value||||||
|||Proportio||Proportio|||Proportio||Proportion||
||Amount||Amount|||Amount||Amount|||
|||n（%）||n（%）|||n（%）||（%）||
|Accounts receivable|||||||||||
|of individual|||||||||||
|||||||2,464,2|||||
|significance and|2,551,54||||2,551,548|||||2,464,272,7|
|||98.15%||||72,746.|99.18%||||
|subject to individual|8,012.00||||,012.00|||||46.00|
|impairment||||||00|||||
|assessment|||||||||||
|Accounts receivable|||||||||||
|subjecttoimpairme|||||||||||
|nt assessment by|||||||||||
||||||0.00||||||
|credit risk|||||||||||
|characteristics of a|||||||||||
|portfolio|||||||||||
|Accounts receivable|||||||||||
|of individual|||||||||||
|insignificance but|48,117,7||||48,117,72|20,411,||||20,411,144.|
|||1.85%|||||0.82%||||
|subject ot individual|23.00||||3.00|144.00||||00|
|impairment|||||||||||
|assessment|||||||||||
||||||2,599,665,735.00|2,484,6||||2,484,683,890.00|
||2,599,66||||||||||
|Total||100.00%||||83,890.|100.00%||||
||5,735.00||||||||||
|||||||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|2,273,052,013.40|0.00|||
|||||expected|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||
|-|-|-|-|-|
|Shenzhen Powe suply||||Full amount recovery is|
||227,369,585.00|0.00|0.00%||
|Bureau||||expected|
|Guangdong Yudean|||||
|||||Full amount recovery is|
|Group Co., Ltd. Shajiao|16,286,163.00|0.00|0.00%||
|||||expected|
|C plant|||||
|GPGC,Zhanjiang Power||||Full amount recovery is|
||14,842,713.60|0.00|0.00%||
|suply Bureau||||expected|
|Huizhou Huiling||||Full amount recovery is|
||12,154,882.00|0.00|0.00%||
|Huacheng Co., Ltd.||||expected|
|GPGC, Maoming Power||||Full amount recovery is|
||7,842,655.00|0.00|0.00%||
|Supply Bureau||||expected|
|Total|2,551,548,012.00||--|--|

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
Account receivable accounts with not minor amount but were provided had debt provisions individually at end of period.
||||||
|-|-|-|-|-|
|Description Of account||Amount of bad|||
||Book balance||rate|Reason|
|receivables||debt|||
|Electricity charge receivable|5,327,892.00|-|0.00%|Full amount recovery is expected|
|Thermoelectricity Sale|2,697,210.00|-|0.00%||
|||||Full amount recovery is expected|
|accounts receivable|||||
|Receivable service fees|39,664,621.00|-|0.00%|Full amount recovery is expected|
|Other|428,000.00|-|0.00%|Full amount recovery is expected|
|Total|48,117,723.00|-|--|--|

（2）The ending balance of account receivables owed by the imputation of the top five parties
|||||
|-|-|-|-|
|Name|Amount in year-end|Bad debt provisionProportion%|Proportion%|
|Total|2,543,705,357.00|-|97.85%|
|GPGC|2,273,052,013.40|-|87.44%,|
|Shenzhen Powe suplyBureau|227,369,585.00|-|8.75%|
|Guangdong Yudean GroupCo., Ltd. Shajiao C plant|16,286,163.00||0.63%|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||
|-|-|-|-|
|GPGC,Zhanjiang Powe suplyBureau|14,842,713.60|-|0.57%|
|Huizhou Huiling HuachengCo., Ltd.|12,154,882.00|-|0.47%|

3. Prepayments
（1）Prepayments age :
||||||
|-|-|-|-|-|
||End of term||Beginning of term||
|Age|||||
||Amount|Proportion（%）|Amount|Proportion（%）|
|Within 1 year|846,802,698.00|98.72%|1,061,957,143.00|99.84%|
|1-2 years|9,731,418.00|1.13%|264,229.00|0.02%|
|2-3 years|281,396.00|0.03%|457,834.00|0.04%|
|Over 3 years|928,004.00|0.11%|1,022,424.00|0.10%|
|Total|857,743,516.00|--|1,063,701,630.00|--|

Notes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016（2）The ending balance of Prepayments owed by the imputation of the top five parties
|||||
|-|-|-|-|
|Name|Relationship with the company|Amount|Proportion %|
|Guangdong Power IndustryFuel Co., Ltd.|The joint venture withGuangdong group control|705,492,990.53|82.25%|
|Guangdong Zhutou PowerFuel Co., Ltd.|Non-related party|25,689,574.16|3.00%|
|Guangshen Railway Co., Ltd.|Non-related party|35,077,586.31|4.09%|
|Zhuhai Gaolanxiang RailwayCo., Ltd.|Non-related party|24,188,596.30|2.82%|
|Guangzhou Port Co., Ltd.|Non-related party|17,954,279.90|2.09%|
|Total||808,403,027.20|94.25%|

Other notes:
4. Interest receivable
（1）Interest receivable
In RMB
||||
|-|-|-|
|Classification|Year-end balance|Year-beginning balance|
|Fixed deposit|14,987,275.00|10,232,658.00|
|Total|14,987,275.00|10,232,658.00|

 5.Dividend receivable
（1）Dividend receivable
In RMB
||||
|-|-|-|
|Items )|Year-end balance|Year-beginning balance|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||
|-|-|
|Shanxi Yudean Energy Co., Ltd.|4,000,000.00|
|Total|4,000,000.00|

 6.Other rceivables
（1）Disclosure of calassification of other receivables
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Amount in year-end|||||Amount in year-begin|||||
||Book Balance||Bad debt provision|||Book Balance||Bad debt provision|||
|Classification|||||Book||||||
||Amount|Proportio|Amount|Proportio||Amount|Proportio|Amount|Proportion(|Book value|
||||||value||||||
|||n(%)||n(%)|||n(%)||%)||
|Other accounts|||||||||||
|receivable of|||||||||||
|individual|||||||||||
||78,631,2||||78,631,24|138,170||||138,170,84|
|significance and||56.05%||0.00%|||70.76%|0.00|0.00%||
||47.00||||7.00|,845.00||||5.00|
|subject to individual|||||||||||
|impairment|||||||||||
|assessment|||||||||||
|Other accounts|||||||||||
|receivable subject|||||||||||
|to impairment|||||||||||
|assessment by|0.00|0.00%|0.00|0.00%|0.00|0.00|0.00%|0.00|0.00%|0.00|
|credit risk|||||||||||
|characteristics of a|||||||||||
|portfolio|||||||||||
|Other accounts|||||||||||
|receivable of|||||||||||
|individual|||||||||||
||61,658,0||6,365,29||55,292,79|57,093,||6,365,291||50,728,435.|
|insignificance but||43.95%||10.32%|||29.24%||11.15%||
||83.00||1.00||2.00|726.00||.00||00|
|subject to individual|||||||||||
|impairment|||||||||||
|assessment|||||||||||
||140,289,||6,365,29||133,924,039.00|195,264||6,365,291||188,899,280.00|
|Total||1.00%||4.54%|||1.00%||3.26%||
||330.00||1.00|||,571.00||.00|||

 Other receivable accounts with large amount and were provided had debt provisions individually at end of period.√ Applicable□ Not applicable
In RMB
|||
|-|-|
|Other receivable（Unit）|End of term|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||
|-|-|-|-|-|
||Other receivable|Bad debt provision|Proportion|Reason|
|Guangdong Yudean|||||
|Enviornmental Pretection|37,528,814.00|0.00|0.00%||
|Co., Ltd.|||||
|Huidong Finance Bureau|21,318,970.00|0.00|0.00%||
|Shenzhen Tianxin|||||
|Insurance Brokers Co.,|10,904,074.00|0.00|0.00%||
|ltd.|||||
|Dongguan Humen Jinfan|||||
||4,730,956.00|0.00|0.00%||
|Industrial Co., Ltd|||||
|Huilai State Taxation|||||
||4,148,433.00|0.00|0.00%||
|Bureau|||||
|Total|78,631,247.00||--|--|

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||8,869,122.00||1,878,841.00||
|Income receivable from by product sales||9,467,285.67||2,803,641.00||
|Reserve funds||16,381,136.00||32,191.00||
|Other||26,940,538.06||1,650,618.00||
||Total||61,658,081.73||6,365,291.00|

（2）Other receivables Nature of fund classification information
In RMB
||||
|-|-|-|
|Nature|End of term|Beginning of term|
|Prepayments for construction|30,188,092.00|30,660,145.00|
|Income receivable from byproduct sales|46,996,100.00|94,220,368.00|
|Reserve funds|16,381,136.00|9,263,643.00|
|Government Grants|4,148,434.00|32,485,261.00|
|Other|42,575,568.00|28,635,154.00|
|Total|140,289,330.00|195,264,571.00|

（3）The ending balance of other receivables owed by the imputation of the top five parties
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||
|-|-|-|-|-|-|
|||||Portion in total other|Bad debt provision|
|Name|Nature|Year-end balance|Age|||
|||||receivables(%)|of year-end balance|
|Guangdong Yudean||||||
|Environmental|Product sales|37,528,814.00|Within 1 year|26.75%||
|Protection Co., Ltd.||||||
|Guangdong Yudean||||||
|Environmental|Product sales|21,318,970.00|Over 3 years|15.20%||
|Protection Co., Ltd.||||||
|Shenzhen Tianxin|PICC insurance|||||
|Insurance Brokers|claims payment|10,904,074.00|Within 1 year|7.77%||
|Co., ltd.|recivable|||||
|Dongguan Humen||||||
|Jinfan Industrial|Agency fund|4,730,956.00|Within 1 year|3.37%||
|Co., Ltd||||||
|Huilai State Taxation||||||
||VAT return|4,148,433.00|Within 1 year|2.96%||
|Bureau||||||
|Total|--|78,631,247.00|--|56.05%||

（4）Government grants
In RMB
||||||
|-|-|-|-|-|
|||||Expected date of receipt,|
|Name|Name of Grant|End of term|Aging|amount and rationale of|
|||||the grant expected to be|
|Huilai State Taxation|||||
||VAT Refund|4,148,434.00|Within 1 year|Within 1 year|
|Bureau|||||
|Total|--|4,148,434.00|--|--|

7.Inventory
（1）Inventory types
In RMB
||||||||
|-|-|-|-|-|-|-|
||Year-end balance|||Year-beginning balance|||
|Items|Book balance|Provision for bad|Book value|Book balance|Provision for bad|Book value|
|||debts|||debts||
|Raw materials|753,038,132.00|0.00|753,038,132.00|617,225,212.00|0.00|617,225,212.00|
|Parts|755,113,277.00|62,309,494.00|692,803,783.00|762,897,800.00|62,309,494.00|700,588,306.00|
|Other|13,214,692.00|0.00|13,214,692.00|15,841,105.00|0.00|15,841,105.00|
|Total|1,521,366,101.00|62,309,494.00|1,459,056,607.00|1,395,964,117.00|62,309,494.00|1,333,654,623.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016（2）Inventory Impairment provision
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|||||0.00|
|Parts|62,309,494.00|||||62,309,494.00|
|Other|62,309,494.00|||||62,309,494.00|
|Total|||||||

As at 30 June 2016, the Group made provision for impairment of inventories because some spare parts were rendered useless and impaired as a result of technology upgrade.
8.Other current assets
In RMB
||||
|-|-|-|
|Items|End of term|Beginning of term|
|Deductible VAT|598,079,295.00|583,680,487.00|
|Other current assets to be disposed|0.00|0.00|
|Prepayment of income tax|2,724,424.00|3,921,884.00|
|Other|53,048,017.00|50,859,601.00|
|Total|653,851,736.00|638,461,972.00|

 Othernotes：
9. Available-for-sale financial assets
（1）Sellable financial assets
In RMB
||||||||
|-|-|-|-|-|-|-|
||Balance in year -end|||Amount at year beginning|||
|Items||Provision for|||Provision for||
||Book balance||Book value|Book balance||Book value|
|||impairment|||impairment||
|Available-for-sale equity||||1,094,350,488.00|||
||949,125,115.00|0.00|949,125,115.00||0.00|1,094,350,488.00|
|instruments|||||||
|According to the fair|||||||
||408,125,115.00|0.00|408,125,115.00|553,350,488.00|0.00|553,350,488.00|
|value measurement|||||||
|According to the|||||||
||541,000,000.00|0.00|541,000,000.00|541,000,000.00|0.00|541,000,000.00|
|Cost measurement|||||||
||||949,125,115.00|1,094,350,488.00||1,094,350,488.00|
|Total|949,125,115.00|0.00|||0.00||

（2）Measured at fair value for the available-for-sale financial assets at the end period
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 In RMB
|||||
|-|-|-|-|
||Available-for-sale equity|Available-for-sale liabilities||
|Classification|||Total|
||instruments|instruments||
|Fair value|408,125,115.00||408,125,115.0|

（3）Available-for–sale financial assets measured at cost at the end of the year
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Book balance||||Provision for impairment||||Percentage||
|||||||||||Cash|
||||||||||of||
|||||||||||dividends|
|Investee|Balance of||||Balance of|||End of|shareholdi||
|||Increase||||Increase|Decrease|||for the|
||term||||term|||term|ng in||
|||||||||||year|
||||||||||investees%||
|Shenzhen|||||||||||
|Chuangxi|||||||||||
|n|115,000,00|||115,000,00|||||||
|||0.00|0.00||0.00|0.00|0.00|0.00|3.67%|0.00|
|Imvestme|0.00|||0.00|||||||
|nt Group|||||||||||
|Co., Ltd.|||||||||||
|Sun|356,000,00|||356,000,00|||||||
|||0.00|0.00||0.00|0.00|0.00|0.00|5.22%|0.00|
|Insurance|0.00|||0.00|||||||
|South Sea|||||||||||
|Wind|||||||||||
|Electricity|70,000,000|||70,000,000|||||||
|||0.00|0.00||0.00|0.00|0.00|0.00|10.00%|0.00|
|Developm|.00|||.00|||||||
|ent Co.,|||||||||||
|Ltd.|||||||||||
||541,000,00|||541,000,00|||||||
|Total|||||||||--||
||0.00|||0.00|||||||

10．Long-term account receivable
（1）Details
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
||End of term|||Beginning of term||||
|Items||Provision for|||Provision for||Range of rate|
||Book balance||Book value|Book balance||Book value||
|||impairment|||impairment|||
||131,432,804.0||131,432,804.0|128,640,631.0||128,640,631.0||
|Financing Rent||0.00|||0.00||4.93% - 7.30%|
||0||0|0||0||
|Total|131,432,804.0||131,432,804.0|128,640,631.0||128,640,631.0|--|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||
|-|-|-|-|
|0|0|0|0|

11. Long term share equity investment.
(1）Details of long-term equity investment
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||Increase/decrease during the year|||||||||Provision|
|||||Investme|||||||for|
||||||||Declared|||||
|||||nt income|Other|||Provision|||impairm|
||Beginnin|||||Other|distributio|||End of||
|Name||Increase|Decrease|recognise|Compaeh|||for|||ent of|
||g of term|||||eqiuty|n of cash||Other|term||
|||in capital|in capital|d under|ensive|||impairme|||closing|
|||||||changed|dividends||||balance|
|||||equity|income|||nt||||
||||||||or profit|||||
|||||method||||||||
|1. Joint venture||||||||||||
|Industrial|601,637,3|||34,043,34|||79,989,33|||555,691,3||
|||0.00|0.00||0.00|0.00||0.00|0.00|||
|Fuel|46.00|||0.00|||6.00|||50.00||
||601,637,3|||34,043,34|||79,989,33|||555,691,3||
|Subtotal||0.00|0.00||0.00|0.00||0.00|0.00|||
||46.00|||0.00|||6.00|||50.00||
|II. Associates||||||||||||
|Yangshan||||||||||||
|Jiangkeng||||||||||||
|Hydropo|5,991,055|||431,648.0||||||6,422,703||
|||0.00|0.00||0.00|0.00|0.00|0.00|0.00|||
|wer|.00|||0||||||.00||
|StationCo||||||||||||
|.,Ltd.||||||||||||
|Yangshan||||||||||||
|Centre||||||||||||
|Keng|8,180,783|||1,358,823||||||9,539,606||
|||0.00|0.00||0.00|0.00|0.00|0.00|0.00|||
|Electric|.00|||.00||||||.00||
|Power||||||||||||
|Company||||||||||||
|Yudean||||||||||||
|West||||||||||||
||264,811,2|||-16,941,8|933,549.0|||||248,802,9||
|Investme||0.00|0.00|||0.00|0.00|0.00|0.00|||
||91.00|||62.00|0|||||78.00||
|nt Co.,||||||||||||
|Ltd.||||||||||||
|Guangdo||||||||||||
|ng|940,425,7|||-8,138,36||648,239.0|4,556,452|||928,416,4||
|||0.00|0.00||37,289.00|||0.00|0.00|||
|Yudean|74.00|||2.00||0|.00|||88.00||
|Shipping||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|Co., Ltd|||||||||||
|WenxinY|||||||||||
|untou|||||||||||
|Yudean|357,675,7|||-39,024,0||||||318,651,6|
|||0.00|0.00||0.00|0.00|0.00|0.00|0.00||
|Zhaxi|40.00|||54.00||||||86.00|
|Energy|||||||||||
|Co., Ltd|||||||||||
|Shanxi|||||||||||
|Yudean|913,606,6|||8,754,520||||||922,361,1|
|||0.00|0.00||0.00|0.00|0.00|0.00|0.00||
|Energy|50.00|||.00||||||70.00|
|Co., Ltd.|||||||||||
|Guangdo|||||||||||
|ng|||||||||||
||670,229,3|||43,593,65|||59,406,85|||654,416,1|
|Yudean||0.00|0.00||0.00|0.00||0.00|0.00||
||69.00|||5.00|||6.00|||68.00|
|Finance|||||||||||
|Co., Ltd.|||||||||||
|Guangdo|||||||||||
|ng|||||||||||
|Guohua|||||||||||
|Yudean|||||||||||
||2,104,305|||99,775,39||||||2,204,080|
|Taishan||0.00|0.00||0.00|0.00|0.00|0.00|0.00||
||,209.00|||0.00||||||,599.00|
|Power|||||||||||
|Generatio|||||||||||
|n Co.,|||||||||||
|Ltd.|||||||||||
|Huaneng|||||||||||
|Shantou|||||||||||
|Wind|||||||||||
||57,546,94|||2,348,436||||||59,895,37|
|Power||0.00|0.00||0.00|0.00|0.00|0.00|0.00||
||2.00|||.00||||||8.00|
|Generatio|||||||||||
|n Co.,|||||||||||
|Ltd.|||||||||||
||5,322,772|||92,158,19|970,838.0|648,239.0|63,963,30|||5,352,586|
|Subtotal||0.00|0.00|||||0.00|0.00||
||,813.00|||4.00|0|0|8.00|||,776.00|
||5,924,410|||126,201,5|970,838.0|648,239.0|143,952,6|||5,908,278|
|Total|||||||||||
||,159.00|||34.00|0|0|44.00|||,126.00|

Other notes
12.Investment real estate
（1）Measured by the cost of investment in real estate
√Applicable□Not applicable
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 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|||||
|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|10,567,330.00|||10,567,330.00|
|2.Increased amount ofthe|||||
||317,798.00|||317,798.00|
|period|||||
|(1) Withdrawal|317,798.00|||317,798.00|
|3.Decreased amount of|||||
|the period|||||
|（1）Dispose|||||
|（2）Other out|||||
|4. Balance at|||||
||10,885,128.00|||10,885,128.00|
|period-end|||||
|III. Impairment provision|||||
|1. Balance at|||||
|period-beginning|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|2.Increased amount of|||
|the period|||
|(1) Withdrawal|||
|3.Decreased amount of|||
|the period|||
|（1）Dispose|||
|（2）Other out|||
|4. Balance at period-end|||
|IV.Book value|||
|1.Book value at period||9,250,037.00|
||9,250,037.00||
|-end|||
|2.Book value at||9,567,835.00|
||9,567,835.00||
|period-beginning|||

(2) Details of fixed assets failed to accomplish certification of property
□ Applicable√ Not appliucable
13. Fixed assets
（1）Fixed assets
In RMB
|||||||
|-|-|-|-|-|-|
||Including: House,|Machinery||||
|Items|||Transportations|Other equipment|Other|
||building|equipment||||
|I. Original price||||||
|1.Opening||||||
||16,864,671,692.00|53,095,927,527.00|606,081,985.00|1,077,417,960.00|71,644,099,164.00|
|balance||||||
|2.Increased amount||||||
||230,017,184.00|1,698,681,672.00|10,960,784.00|32,983,678.00|1,972,643,318.00|
|ofthe period||||||
|(1) Purchase|0.00|41,783,902.00|10,960,784.00|5,252,831.00|57,997,517.00|
|(2) Transferred fro||||||
|m construc||||||
||230,017,184.00|1,656,897,770.00|0.00|27,730,847.00|1,914,645,801.00|
|tion in pro||||||
|gress||||||
|(3)Increased of||||||
|Enterprise||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||
|-|-|-|-|-|-|
|Combination||||||
|3. Decrease in the||||||
||3,077.00|14,839,665.00|9,707,457.00|1,993,780.00|26,543,979.00|
|current period||||||
|（1）Disposal|3,077.00|14,839,665.00|9,707,457.00|1,993,780.00|26,543,979.00|
|4. Balance at||||||
||17,094,685,799.00|54,779,769,534.00|607,335,312.00|1,108,407,858.00|73,590,198,503.00|
|period-end||||||
|II.Accumulated||||||
|amortization||||||
|1. Balance at||||||
||5,016,638,465.00|20,534,743,932.00|422,262,704.00|720,242,703.00|26,693,887,804.00|
|period-beginning||||||
|2. Increase in the||||||
||313,843,690.00|1,634,573,532.00|7,980,741.00|29,176,531.00|1,985,574,494.00|
|current period||||||
|(1) Withdrawal|313,843,690.00|1,634,573,532.00|7,980,741.00|29,176,531.00|1,985,574,494.00|
|3. Decrease in the||||||
||3,077.00|16,058,532.00|9,054,633.00|1,629,850.00|26,746,092.00|
|current period||||||
|（1）Disposal|3,077.00|16,058,532.00|9,054,633.00|1,629,850.00|26,746,092.00|
|4. Balance at||||||
||5,330,479,078.00|22,153,258,932.00|421,188,812.00|747,789,384.00|28,652,716,206.00|
|period-end||||||
|III. Impairment||||||
|provision||||||
|1. Balance at||||||
||117,320,986.00|496,035,008.00|2,682,046.00|4,005,699.00|620,043,739.00|
|period-beginning||||||
|2.Increased||||||
|amount of the period||||||
|(1) Withdrawal||||||
|3. Decrease in the||||||
||0.00|8,958.00|222,728.00|0.00|231,686.00|
|current period||||||
|（1）Dispose|0.00|8,958.00|222,728.00|0.00|231,686.00|
|4. Balance at||||||
||117,320,986.00|496,026,050.00|2,459,318.00|4,005,699.00|619,812,053.00|
|period-end||||||
|IV.Book value||||||
|1.Book value at||||||
||11,646,885,735.00|32,130,484,552.00|183,687,182.00|356,612,775.00|44,317,670,244.00|
|period -end||||||
|2.Book value at||||||
||11,730,712,241.00|32,065,148,587.00|181,137,235.00|353,169,558.00|44,330,167,621.00|
|period-beginning||||||

（2） Fixed assets leased out from operation lease:
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||
|-|-|-|-|-|
|||Accumulated|||
|Items|Book value||Impairment provision|Book value|
|||amortization|||
|Zhongyue Financing|||||
||900,000,000.00|250,459,906.00|0.00|649,540,094.00|
|lease rent|||||
|Yuejiang Financing lease|||||
||1,625,767,700.00|257,966,300.00|0.00|1,367,801,400.00|
|rent|||||
|Jinghai Financing lease|||||
||1,600,000,000.00|783,750,000.00|0.00|816,250,000.00|
|rent|||||

（3）Fixed assets held for sale at the end of the year
In RMB
|||
|-|-|
|Items|Closing book value e|
|House and building|5,272,077.00|

 14.Project under construction
（1）Project under construction
In RMB
||||||||
|-|-|-|-|-|-|-|
||Year-end balance|||Year-beginning balance|||
|Items|Book balance|Provision for|Book Net value|Book balance|Provision for|Book Net value|
|||devaluation|||devaluation||
|Electric units|||||||
|Construction of|||||||
||0.00||0.00|1,267,286,429.00||1,267,286,429.00|
|Dapu Power Plant|||||||
|(2 * 600MW)|||||||
|Bohe coal|||||||
|integration|3,024,784,069.00||3,024,784,069.00|2,105,426,029.00||2,105,426,029.00|
|project|||||||
|Linchang|||||||
||1,009,704,116.00||1,009,704,116.00|984,023,323.00||984,023,323.00|
|Dayakou Station|||||||
|Project of|||||||
||0.00||0.00|338,264,433.00||338,264,433.00|
|Dianbai Hot wind|||||||
|Project of Humen|||||||
||137,363,901.00|10,354,156.00|127,009,745.00|137,354,887.00|10,354,156.00|127,000,731.00|
|units2*1000MW|||||||
|Xuwen Warriors|||||||
|reconstruction|121,245,140.00||121,245,140.00|62,959,412.00||62,959,412.00|
|project|||||||
|Project of|||||||
||76,109,569.00||76,109,569.00|49,736,645.00||49,736,645.00|
|Leizhou|||||||
|Hongxinlou Wind|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||
|-|-|-|-|-|-|-|
|power|||||||
|Project of units|||||||
|5# and 6# of Red|36,785,162.00||36,785,162.00|34,640,172.00||34,640,172.00|
|Bay|||||||
|Huizhou|||||||
|Naturalgas II|||||||
||110,754,516.00||110,754,516.00|81,865,488.00||81,865,488.00|
|Phase|||||||
|Construction|||||||
|Jinghai|||||||
|Powerplant|||||||
||51,659,810.00||51,659,810.00|36,083,755.00||36,083,755.00|
|expansion|||||||
|project|||||||
|Guangqian Power|||||||
||32,645,048.00||32,645,048.00|31,279,633.00||31,279,633.00|
|II phase project|||||||
|Other project|399,929,187.00||399,929,187.00|309,719,568.00||309,719,568.00|
|Technology|||||||
|improvement and|267,820,593.00|886,461.00|266,934,132.00|185,999,685.00|886,463.00|185,113,222.00|
|other project|||||||
|Total|5,268,801,111.00|11,240,617.00|5,257,560,494.00|5,624,639,459.00|11,240,619.00|5,613,398,840.00|

（2）Significant changes in projects of construction-in-progress
In RMB
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||Amountat yearbeginning|||||||Thereinto:|Current|||
|||||||Project|||||||
|||||||||Accumulat|||||
||||Increase|Transferre||investment|||amount||||
||||||Other||Project|ed amount||Interest|Capital|Amount at|
|Name|Budget||at this|d to fixed||proportion|||of Current||||
||||||reduction||progress|of interest||capitalizati|source|year end|
||||period|assets||of the|||Interest||||
|||||||||capitalized||on rate|||
|||||||budget|||capitalized||||
|Electric||||||||||30,061,476.00|||
|units|||||||||||||
|Construc|||||||||||||
|tion of|||||||||||||
||4,807,2|7 1,267,28|167,646,|1,434,93|||||90,268,8||||
|Dapu||||||0.00|93.42%|100.00%|||4.69%|Other|
||2,526.0|0 6,429.00|557.00|2,986.00|||||20.00||||
|Power|||||||||||||
|Plant (2|||||||||||||
|*|||||||||||||
|600MW)|||||||||||||
|Bohe||||||||||17,113,212.00|||
|coal|||||||||||||
||9,785,9|5 2,105,42|919,358,|||3,024,78|||80,943,6||||
|integrati||||0.00|||30.91%|30.91%|||5.35%|Other|
||0,000.0|0 6,029.00|040.00|||4,069.00|||48.00||||
|on|||||||||||||
|project|||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|Linchan||||||||||||
|g|1,023,42|984,023,|25,680,7||1,009,70|||99,485,8|1,761,91|||
|||||0.00||98.66%|98.66%|||5.01%|Other|
|Dayakou|0,000.00|323.00|93.00||4,116.00|||99.00|9.00|||
|Station||||||||||||
|Project||||||||||||
|of|483,714,|338,264,|78,850,5|417,114,||||9,048,12|1,996,45|||
||||||0.00|86.23%|100.00%|||4.64%|Other|
|Dianbai|800.00|433.00|40.00|973.00||||8.00|4.00|||
|Hot wind||||||||||||
|Project||||||||||||
|of||||||||||||
||7,789,51|127,000,|||127,009,|||||||
|Humen|||9,014.00|0.00||1.63%|1.63%||||Other|
||0,000.00|731.00|||745.00|||||||
|units2*1||||||||||||
|000MW||||||||||||
|Xuwen||||||||||||
|Warrior||||||||||||
|s|186,980,|62,959,4|58,285,7||121,245,|||||||
|||||0.00||64.84%|64.84%||||Other|
|reconstr|000.00|12.00|28.00||140.00|||||||
|uction||||||||||||
|project||||||||||||
|Project||||||||||||
|of||||||||||||
|Leizhou|462,920,|49,736,6|26,372,9||76,109,5|||1,049,17|775,557.|||
|||||0.00||16.44%|16.44%|||4.32%|Other|
|Hongxin|000.00|45.00|24.00||69.00|||2.00|00|||
|lou Wind||||||||||||
|power||||||||||||
|Project||||||||||||
|of units||||||||||||
||7,714,37|34,640,1|2,144,99||36,785,1|||||||
|5# and||||0.00||0.48%|0.48%||||Other|
||0,000.00|72.00|0.00||62.00|||||||
|6# of||||||||||||
|Red Bay||||||||||||
|Huizhou||||||||||||
|Naturalg||||||||||||
|as II|900,000,|81,865,4|28,889,0||110,754,|||||||
|||||0.00||12.31%|12.31%||||Other|
|Phase|000.00|88.00|28.00||516.00|||||||
|Construc||||||||||||
|tion||||||||||||
|Jinghai||||||||||||
|Powerp||||||||||||
|lant|8,054,82|36,083,7|15,576,0||51,659,8|||||||
|||||0.00||0.64%|0.64%||||Other|
|expansi|0,000.00|55.00|55.00||10.00|||||||
|on||||||||||||
|project||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|Guangqi||||||||||||
|an||||||||||||
||3,753,92|31,279,6|1,365,41|||32,645,0||||||
|Power||||0.00|||0.87%|0.87%|||Other|
||0,000.00|33.00|5.00|||48.00||||||
|II phase||||||||||||
|project||||||||||||
|Other||309,719,|90,209,6|||399,929,||||||
|||||0.00|0.00||||||Other|
|project||568.00|19.00|||187.00||||||
|Technolo||||||||||||
|gy||||||||||||
|improve||185,113,|144,769,|62,597,8|350,750.|266,934,||||||
||||||||||||Other|
|ment and||222.00|502.00|42.00|00|132.00||||||
|other||||||||||||
|project||||||||||||
||44,962,8|||||||||||
|||5,613,39|1,559,15|1,914,64|350,750.|5,257,56|||280,795,|51,708,6||
|Total|77,326.0||||||--|--|||--|
|||8,840.00|8,205.00|5,801.00|00|0,494.00|||667.00|18.00||
||0|||||||||||

15.Engineering Material
In RMB
||||
|-|-|-|
|Items|End of term|Beginning of term|
|Spectial equipment|291,745.00|169,300.00|
|Spectial Material|1,694,004.00|1,504,247.00|
|Total|1,985,749.00|1,673,547.00|

 Othernotes：
16.Liquidation of fixed assets
In RMB
||||
|-|-|-|
|Items|End of term|Beginning of term|
|Power Equipment parts scrapped due to tec|||
||4,353,508.00|2,881,645.00|
|hnical innovation|||
|Administrative supplies|435,401.00|202,396.00|
|House and Building|391,343.00|391,343.00|
|Transportation Equipment|22,559.00|0.00|
|Instrument and other|35,489.00||
|Total|5,238,300.00|3,475,384.00|

Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 17. Intangible assets
（1）Intangible assets
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||||||Electric|||
|||||||||transmissi|||
||Land use||Non-patent||Franchise|Sea use|ransportati|on project|||
|Items||Patent||Software|||||Other|Total|
||right||Technology||right|right|on project|and|||
|||||||||microwave|||
|||||||||project|||
|I. Original|||||||||||
|price|||||||||||
||1,729,875,|||82,290,3|13,720,736|129,906,54|22,468,672|442,517,68||2,421,473,|
|1.Opening||0.00|0.00||||||693,319.00||
||675.00|||80.00|.00|4.00|.00|4.00||010.00|
|balance|||||||||||
|2.Increas|||||||||||
|ed||||1,643,38|||||3,810,509.|5,453,897.|
||0.00|0.00|0.00||0.00|0.00|0.00|0.00|||
|amount||||8.00|||||00|00|
|ofthe|||||||||||
|period|||||||||||
|(1)|||||||||||
|||||1,643,38|||||3,810,509.|5,453,897.|
||0.00|0.00|||0.00|0.00|0.00|0.00|||
|Purchase||||8.00|||||00|00|
|(2)Internal|||||||||||
|Developm|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|
|ent|||||||||||
|(3)Increase|||||||||||
|d of|||||||||||
|Enterprise|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|
|Combinati|||||||||||
|on|||||||||||
|3.Decrease|||||||||||
|d amount||||459,392.|||||||
|||||||||||459,392.00|
|of the||||00|||||||
|period|||||||||||
|（1）||||183,757.|||||||
||0.00|0.00|0.00||0.00|0.00|0.00|0.00|0.00|183,757.00|
|Disposal||||00|||||||
|4. Balance|||||||||||
||1,729,875,|||83,474,3|13,720,736|129,906,54|22,468,672|442,517,68|4,503,828.|2,426,467,|
|at|||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|period-end|675.00|||76.00|.00|4.00|.00|4.00|00|515.00|
|II.Accumu|||||||||||
|lated|||||||||||
|amortizati|||||||||||
|on|||||||||||
|1. Balance|||||||||||
|at|215,263,04|||58,695,5|8,006,421.|15,245,415|21,426,174|404,925,87||723,831,96|
|||0.00|0.00||||||269,450.00||
|period-beg|6.00|||80.00|00|.00|.00|7.00||3.00|
|inning|||||||||||
|2. Increase|||||||||||
|in the|19,304,795|||4,250,33||1,309,746.||||25,601,331|
|||0.00|0.00||476,071.00||20,894.00|200,261.00|39,231.00||
|current|.00|||3.00||00||||.00|
|period|||||||||||
|(1)|||||||||||
||19,304,795|||4,250,33||1,309,746.||||25,601,331|
|Withdrawa||0.00|||476,071.00||20,894.00|200,261.00|39,231.00||
||.00|||3.00||00||||.00|
|l|||||||||||
|3.Decrease|||||||||||
|d amount||||183,757.|||||||
||0.00|0.00|0.00||0.00|0.00|0.00|0.00|0.00|183,757.00|
|of the||||00|||||||
|period|||||||||||
|（1）|||||||||||
||0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|
|Disposal|||||||||||
|4. Balance|||||||||||
||234,567,84|||62,762,1|8,482,492.|16,555,161|21,447,068|405,126,13||749,249,53|
|at||0.00|0.00||||||308,681.00||
||1.00|||56.00|00|.00|.00|8.00||7.00|
|period-end|||||||||||
|III.|||||||||||
|Impairmen|||||||||||
|t provision|||||||||||
|1. Balance|||||||||||
|at|||||||1,021,604.|33,189,374||34,210,978|
||0.00|0.00|0.00|0.00|0.00|0.00|||0.00||
|period-beg|||||||00|.00||.00|
|inning|||||||||||
|2. Increase|||||||||||
|in the|||||||||||
|current|||||||||||
|period|||||||||||
|(1)|||||||||||
|Withdrawa|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|
|l|||||||||||
|3.Decrease|||||||||||
|d amount|||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|of the|||||||||||
|period|||||||||||
|（1）|||||||||||
|Disposal|||||||||||
|4. Balance|||||||||||
||||||||1,021,604.|33,189,374||34,210,978|
|at|0.00|0.00|0.00|0.00|0.00|0.00|||0.00||
||||||||00|.00||.00|
|period-end|||||||||||
|4. Book|||||||||||
|value|||||||||||
|1.Book|||||||||||
|value at|1,495,307,|||20,712,2|5,238,244.|113,351,38||4,202,172.|4,195,147.|1,643,007,|
|||0.00|0.00||||0.00||||
|period|834.00|||20.00|00|3.00||00|00|000.00|
|-end|||||||||||
|2.Book|||||||||||
|value at|1,514,612,|||23,594,8|5,714,315.|114,661,12||4,402,433.||1,663,430,|
|||0.00|0.00||||20,894.00||423,869.00||
|period-beg|629.00|||00.00|00|9.00||00||069.00|
|inning|||||||||||

Intangible assets through internal R& D accounting for the balance of intangible assets ratio of0.00% at the end o f the period.
18.Goodwill
（1）Original book value of goodwill
In RMB
||||||
|-|-|-|-|-|
||Amount at|Increase in the current period|Decrease in the current period|Balance in|
|Name|||||
||period-beginning|||year-end|
|Province Wind|||||
||2,449,886.00|||2,449,886.00|
|Power|||||
|Linchang|||||
||25,036,894.00|||25,036,894.00|
|Company|||||
|Total|27,486,780.00|||27,486,780.00|

 19. Long-term amortization expenses
In RMB
|||||||
|-|-|-|-|-|-|
||Balance in|Increase at this|Amortization|||
|Items||||Other decrease|Balance in year-end|
||year-begin|period|balance|||
|Leased assets||||||
||5,443,100.00|2,016,401.00|408,137.00|0.00|7,051,363.00|
|improve expenses||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||
|-|-|-|-|-|-|
|Long-term rent fee|23,400,125.00|0.00|1,014,083.00|0.00|22,386,043.00|
|Total|28,843,225.00|2,016,401.00|1,422,220.00||29,437,406.00|

 Other notes:
20. Deferred income tax assets and deferred income tax liability
（1）Deferred tax liabilities without offsetting
In RMB
||||||
|-|-|-|-|-|
||Amount at period-end||Amount at period-beginning||
|Items||Deferred income tax||Deferred income tax|
||Temporary differences||Temporary differences||
|||liability||liability|
|Provision for impairment|97,906,758.00|26,374,328.00|107,427,844.00|26,374,328.00|
|Unattained internal sales|||||
||234,495,579.00|58,623,895.00|234,495,579.00|58,623,895.00|
|profits|||||
|Unattained internal sales|||||
||47,979,875.00|11,994,968.00|493,320.00|123,330.00|
|profits|||||
|Depreciation for fixed|||||
||70,006,168.00|17,501,542.00|66,617,909.00|16,654,477.00|
|assets|||||
|Employee benefits|||||
||58,131,060.00|14,532,765.00|70,926,428.00|17,731,607.00|
|payable|||||
|Net income from testrun|||||
|included in construction|27,816,163.00|6,874,116.00|27,816,165.00|6,874,116.00|
|in progress|||||
|Government grant|46,062,107.00|11,515,527.00|47,600,568.00|11,900,142.00|
|Formation expense|9,829,416.00|807,416.00|6,459,331.00|807,416.00|
|Intangible assets|||||
||3,072,296.00|768,074.00|3,072,296.00|768,073.00|
|Amortisation|||||
|Total|595,299,422.00|148,992,631.00|564,909,440.00|139,857,384.00|

 (2)Details of the un-recognized deferred income tax liabilities
In RMB
||||||
|-|-|-|-|-|
||Balance in year-end||Balance in year-begin||
|Items|||||
||Temporarily Deductable|Deferred Income Tax|Temporarily Deductable|Deferred Income Tax|
||or Taxable Difference|liabilities|or Taxable Difference|liabilities|
|Revaluation surplus in|||||
|business combination not|96,040,760.00|24,010,190.00|97,594,651.00|24,398,663.00|
|under common control|||||
|Changes in fair value of|||||
||139,380,176.00|34,845,044.00|298,021,872.00|74,505,468.00|
|tradable financial assets|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||
|-|-|-|-|-|
|Net incme/expensess|||||
|included in the|47,835,721.00|11,958,930.00|47,835,721.00|11,958,930.00|
|Construction in project|||||
|Total|283,256,657.00|70,814,164.00|443,452,244.00|110,863,061.00|

 (3)Details of un-recognized deferred income tax assets
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||129,111,294.00||116,237,351.00|
||-19,881,337.00||-23,620,033.00||
|assets|||||
|Deferred income||50,932,827.00||87,243,028.00|
||-19,881,337.00||-23,620,033.00||
|liabilities|||||

（4）Details of unrecognied deferred income tax assets
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Deductible temporary difference|749,873,728.00|749,873,728.00|
|Deductible loss|112,855,399.00|121,380,071.00|
|Total|862,729,127.00|871,253,799.00|

 (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|
|2016|22,985,398.00|36,164,017.00||
|2017|67,959,604.00|67,959,606.00||
|2018|2,504,832.00|2,504,832.00||
|2019|8,449,855.00|7,350,102.00||
|2020|6,066,782.00|7,401,514.00||
|2021|4,888,928.00|0.00||
|Total|112,855,399.00|121,380,071.00|--|

Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 Management believed that the taxentity’s taxable income by the expiry date would be insufficient to offset deductible tax losses. Therefore, the relevant deferred tax assets were not recognised.
21.Other non-current assets
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Prepayments for construction equipment|1,412,125,042.00|1,615,366,249.00|
|Unrealised losses on sale and lease back|202,713,491.00|212,312,445.00|
|Prepayments for house purchase|150,799,140.00|150,799,140.00|
|Prepayments for land|38,733,601.00|38,733,601.00|
|Total|1,804,371,274.00|2,017,211,435.00|

Other：
22.Short–term loans
（1）Short-term loans by category
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Credit loans|6,611,440,000.00|6,288,060,000.00|
|Total|6,611,440,000.00|6,288,060,000.00|

 Notes：
23. Bills payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Commercial acceptance|200,000,000.00|150,000,000.00|
|Bank acceptance bills|419,643,341.00|443,971,146.00|
|Total|619,643,341.00|593,971,146.00|

 Amount due in next fiscal period is RMB0.00.
24. Account payable
（1）Account payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Fuel payable|1,793,053,231.00|1,169,095,741.00|
|Construction and equipment payble|142,297,399.00|438,231,110.00|
|Management fee payable|173,767,552.00|94,009,782.00|
|Other|43,202,985.00|37,890,658.00|
|Total|2,152,321,167.00|1,739,227,291.00|

（2）Account payable due to 1 year
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|||After both parties to confirm the amount|
|Fuel payable|11,753,524.00||
|||paid|
|Management fee payable|94,009,782.00|Time arrangement for payable|
|Total|105,763,306.00|--|

Othernotes：
25.Received in advance
（1）Received in advance
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Advance disposal of recyclable resources|212,698.00|244,798.00|
|Total|212,698.00|244,798.00|

26.Employees’ wage payable
（1）Details
In RMB
||||||
|-|-|-|-|-|
|Items|Beginning of term|Increased this period|Decreased this period|End of term|
|I. Short –term wages|109,947,602.00|760,081,639.00|677,697,318.00|192,331,923.00|
|II. Welfare afterlwaving|||||
|of position-fixed|-52,106.00|97,731,146.00|97,767,975.00|-88,935.00|
|provision scheme|||||
|III. Termination benefit|13,582,426.00|6,585,456.00|5,317,678.00|14,850,204.00|
|Total|123,477,922.00|864,398,241.00|780,782,971.00|207,093,192.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016（2）Short-term remuneration
In RMB
||||||
|-|-|-|-|-|
|Items|Balance in year-begin|Increase in this period|Payable in this period|Balance in year-end|
|1.Wages, bonuses,|||||
||62,400.00|534,998,240.00|459,443,803.00|75,616,837.00|
|allowances and subsidies|||||
|2.Employee welfare|4,228,970.00|43,892,744.00|43,940,744.00|4,180,970.00|
|3. Social insurance|||||
||38,054,334.00|23,563,699.00|22,435,601.00|39,182,432.00|
|premiums|||||
|Including：Medical|||||
||38,054,334.00|20,570,960.00|19,479,692.00|39,145,602.00|
|insurance|||||
|Work injury insurance|0.00|1,662,799.00|1,625,969.00|36,830.00|
|Maternity insurance|0.00|1,329,940.00|1,329,940.00|0.00|
|4. Public reserves for|||||
||0.00|118,549,371.00|118,475,165.00|74,206.00|
|housing|||||
|5.Union funds and staff|||||
||64,847,288.00|22,137,963.00|17,701,465.00|69,283,786.00|
|education fee|||||
|6.Short-term Absences|2,754,610.00|16,939,622.00|15,700,540.00|3,993,692.00|
|Total|109,947,602.00|760,081,639.00|677,697,318.00|192,331,923.00|

（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|||||
||-55,779.00|70,895,904.00|70,895,903.00|-55,778.00|
|insurance premiums|||||
|2.Unemployment|||||
||3,673.00|2,139,139.00|2,175,969.00|-33,157.00|
|insurance|||||
|3. Annuity payment||24,696,103.00|24,696,103.00|0.00|
|Total|-52,106.00|97,731,146.00|97,767,975.00|-88,935.00|

 Othernotes：
27.Tax Payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|VAT|235,340,842.00|92,133,107.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Consumption tax|0.00|0.00|
|Business Tax|0.00|2,083,421.00|
|Enterprise Income tax|242,928,405.00|246,968,994.00|
|Individual Income tax|5,102,162.00|40,151,510.00|
|City Construction tax|7,027,808.00|5,613,910.00|
|Education surcharge|5,658,713.00|4,890,004.00|
|House property Tax|18,813,126.00|830,606.00|
|Land use tax|4,756,497.00|905,014.00|
|Discharge fees|7,665,704.00|4,100,793.00|
|Price regulation fund|4,343,473.00|4,710,949.00|
|Other|1,212,437.00|2,341,046.00|
|Total|532,849,167.00|404,729,354.00|

 Othernotes：
28.Interest Payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Long-term loans interest of installment and|||
||112,777,067.00|43,836,517.00|
|interest charge|||
|Enterprise bond interest|14,698,814.00|44,398,814.00|
|Short term loan interest payable|9,778,652.00|17,257,367.00|
|Total|137,254,533.00|105,492,698.00|

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

Othernotes：
29.Dividend payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Common dividends|9,703,747.00|8,640,994.00|
|Total|9,703,747.00|8,640,994.00|

Other explanation, including dividends payable with over one yearage and disclosure un-paymentreasons：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 30.Other payable
（1）Disclosure by nature
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Performance guarantee deposits from|||
||332,330,599.00|261,377,223.00|
|construction|||
|Construction and equipment payable|3,034,738,856.00|3,118,101,571.00|
|Volume Purchase payable|1,448,301.00|4,448,301.00|
|Advance from shaoguan Electric Power|||
||10,681,917.00|9,937,230.00|
|plant|||
|Other|193,805,983.00|142,269,300.00|
|Total|3,573,005,656.00|3,536,133,625.00|

（2）Statement on large amount other payable accounts due for over one year
In RMB
||||
|-|-|-|
|Items|End of term|Reason|
|Performance guarantee deposits from|||
||48,328,484.89||
|construction|||
|Construction and equipment payable|947,441,141.53||
|Other|995,769,626.42|--|

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.
31.Non-current liabilitiesdue within 1 year
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Long-term loans due in 1 year|1,270,957,360.00|1,471,898,209.00|
|Long-term Account payable due in 1 year|635,961,583.00|379,072,443.00|
|Total|1,906,918,943.00|1,850,970,652.00|

 Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 32.Estimated liabilities
The balance of provisions represents the provision for dispute between theCompany’s subsidiary Guangdong Huizhou Pinghai Power Plant Co.,Ltd (“Pinghai Power”) and Haoxing abalone farm in Pinghai Town, Huidong County. As at 31 December 2015, balance of such payment amounted to RMB700,000. From January 1 to June 30, 2016, RMB 700,000 was paid, and the balance was RMB 0 at 30 June 2016.
33.Other current liabilities
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Short-term financing notes payable|2,441,080,411.00|1,711,348,630.00|
|Total|2,441,080,411.00|1,711,348,630.00|

 Changes in short-term debenturespayable：
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||||||Balance|||Amortisat|||
|||||||||||Balance|
||||||at the|Issuance||ion of|Repayme||
||Face|Issuance|Maturity|Issuance|||Interest at|||at the end|
|Name|||||beginning|during the||siscounts|nt for the||
||value|date|period|amounts|||face value|||of the|
||||||of the|year||or|period||
|||||||||||year|
||||||year|||premium|||
|First batch of|||||||||||
|short-term financing|||||||||||
|bonds issued by|1,500,000|2015.10.2||1,500,000|1,509,599||24,607,39|||1,534,206|
||||270 Days|||0.00||0.00|0.00||
|Guangdong Electric|,000.00|2||,000.00|,589.00||7.00|||,986.00|
|Power Development|||||||||||
|Co., Ltd. in 2015|||||||||||
|First batch of|||||||||||
|short-term financing|||||||||||
|bonds issued by|||||||||||
||200,000,0|||200,000,0|201,749,0||3,789,589|||205,538,6|
|Guangdong Huizhou||2015.10.9|1 Year|||0.00||0.00|0.00||
||00.00|||00.00|41.00||.00|||30.00|
|Pinghai Power|||||||||||
|Generation Co., Ltd. in|||||||||||
|2015|||||||||||
|First batch of|||||||||||
|short-term financing|||||||||||
|bonds issued by|700,000,0|||700,000,0||700,000,0|1,334,795|||701,334,7|
|||2016.6.7|270 days||0.00|||0.00|0.00||
|Guangdong Electric|00.00|||00.00||00.00|.00|||95.00|
|Power Development|||||||||||
|Co., Ltd. in 2016|||||||||||
|||||2,400,000|1,711,348|700,000,0|29,731,78|||2,441,080|
|Total|--|--|--|||||0.00|0.00||
|||||,000.00|,630.00|00.00|1.00|||,411.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 Othernotes：
34.Long-term borrowings
（1）Long-term term borrowings
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Pledge loans|2,715,187,039.00|2,455,656,040.00|
|Mortgage loans|346,400,000.00|366,000,000.00|
|Guarantee loans|1,676,231,251.00|1,691,350,000.00|
|Credit loans|16,412,868,256.00|16,790,223,870.00|
|Total|21,150,686,546.00|21,303,229,910.00|

Notes：
35. Bond payable
（1）Bond payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|12 Yudean Bond|1,196,506,190.00|1,196,029,762.00|
|Total|1,196,506,190.00|1,196,029,762.00|

（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
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|12|1,200,000||||1,196,029||29,700,00|476,428.0||1,196,506|
|||2013.3.18|7 years|0.00||0.00|||0.00||
|Yudean|,000.00||||,762.00||0.00|0||,190.00|

 36. Long-term payable
（1）Long-term payble
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Financing lease|2,056,475,038.00|2,495,443,111.00|

Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 37.Long-term employee payable
（1）Long-term employee payable
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|II. Termination benefits|39,158,949.00|48,280,958.00|
|III. Other Long-term benefits|36,837,708.00|37,546,168.00|
|Total|75,996,657.00|85,827,126.00|

 38.Special payable
In RMB
|||||||
|-|-|-|-|-|-|
|Items|Beginning of term|Increased this term|Decreased this term|End of term|Reason|
|Relocation and||||||
|construction of|2,251,974.00|0.00|312,061.00|1,939,913.00||
|windy power plant||||||
|Extension support||||||
||22,460,000.00|0.00|0.00|22,460,000.00||
|funds||||||
|Total|24,711,974.00|0.00|312,061.00|24,399,913.00|--|

Othernotes：
39.Deferred income
In RMB
|||||||
|-|-|-|-|-|-|
|Items|Beginning of term|Increased this term|Decreased this term|End of term|Reason|
|Government subsidy|103,019,987.00|1,205,351.00|2,680,961.00|101,544,377.00||
|Income from sales||||||
|and lease back of|236,738.00|0.00|202,919.00|33,819.00||
|fixed assets||||||
|Total|103,256,725.00|1,205,351.00|2,883,880.00|101,578,196.00|--|

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||||
|The unit 5|||||||
||9,230,770.00|0.00|1,538,461.00|0.00|7,692,309.00|Related to assets|
|desulfurization|||||||
|project of shajiao|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||
|-|-|-|-|-|-|-|
|A5|||||||
|Expansion on|||||||
|flow|||||||
||4,499,687.00|0.00|0.00|0.00|4,499,687.00|Related to assets|
|reconstruction|||||||
|project|||||||
|Denitration|||||||
||3,200,855.00|0.00|0.00|0.00|3,200,855.00|Related to assets|
|project|||||||
|Refurbishment on|||||||
||3,664,616.00|0.00|0.00|0.00|3,664,616.00|Related to assets|
|air preheater|||||||
|Shajiao A|||||||
|Zhenkou Pump|23,135,555.00|0.00|0.00|0.00|23,135,555.00|Related to assets|
|house|||||||
|1918 Incentives|||||||
|for energy|||||||
|efficiency of|9,187,466.00|0.00|0.00|0.00|9,187,466.00|Related to assets|
|power plant by|||||||
|Dongguan city|||||||
|Port construction|||||||
||0.00|79,352.00|0.00|0.00|79,352.00|Related to assets|
|fee and charge|||||||
|Energy saving|||||||
||8,280,000.00|0.00|1,085,000.00|0.00|7,195,000.00|Related to assets|
|funds|||||||
|Special funds for|||||||
|differential|1,318,000.00|0.00|57,500.00|0.00|1,260,500.00|Related to assets|
|electricity price|||||||
|Incentives for|||||||
|energy efficiency|||||||
||0.00|1,125,999.00|0.00|0.00|1,125,999.00|Related to income|
|of power plant of|||||||
|Shaoguan|||||||
|Development and|||||||
|competitiveness|||||||
||10,000,000.00|0.00|0.00|0.00|10,000,000.00|Related to assets|
|funds from|||||||
|SASAC|||||||
|Water-freshing|||||||
||1,384,616.00|0.00|0.00|0.00|1,384,616.00|Related to assets|
|project|||||||
|Tax refund for|||||||
|PRC-produced|22,517,767.00|0.00|0.00|0.00|22,517,767.00|Related to assets|
|equipment|||||||
|Dianbai Reshui|||||||
|wind power plant|3,000,000.00|0.00|0.00|0.00|3,000,000.00|Related to assets|
|project|||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||
|-|-|-|-|-|-|-|
|Special prize|||||||
|funds of recycle|||||||
|economy and|3,200,655.00|0.00|0.00|0.00|3,200,655.00|Related to assets|
|energy saving by|||||||
|Shenzhen city|||||||
|Development|||||||
|fund for Dayakou|400,000.00||||400,000.00|Related to assets|
|Project|||||||
|Total|103,019,987.00|1,205,351.00|2,680,961.00||101,544,377.00|--|

 Othernotes：
40. Other non-current liabilities
In RMB
||||
|-|-|-|
|Items|Balance in year-end|Balance in year-begin|
|Cpaital injection|39,000,000.00|39,000,000.00|
|Total|39,000,000.00|39,000,000.00|

 Othernotes：
As of June 30,2016, represents the capital injection received by Yuejiang Power from minority shareholders. However, such capital injection was recorded as other non-current liabilities as the registration for changes of business licence has not been completed..
41.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：
42.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|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||
|-|-|-|-|
|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||||
|ated enterprise base on sh|24,876,079.00|648,239.00|25,524,318.00|
|are holding||||
|Other|1,654,903.00|21,217.00|1,676,120.00|
|Total|5,007,077,158.00|669,456.00|5,007,746,614.00|

 Other exlanation, including changes and reasons forchanges：
43.Other Comprehensive income
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|||Amount of current period||||||
||||Less ：|||||
|||Amount for|Previously rec||After - tax a|After - tax a||
||Year-beginni||||||Year-end|
|Items||the period|ognized in pro|Less：|ttributable t|ttributable t||
||ng balance||||||balanc|
||||fit or loss in ot|||||
|||before inco||Income tax|o the parent|o minority s||
||||her comprehen|||||
|||me tax|||company|hareholders||
||||sive income|||||
|2.Other comprehensive income|||||-107,948,192.00|||
||245,708,715.|-144,254,53||-36,306,343|||137,760,5|
|reclassifiable to profit or loss in||||||||
||00|5.00||.00|||23.00|
|subsequent periods||||||||
|Indluding：Share of other|||||970,838.00|||
|comprehensive income of the|22,192,308.0||||||23,163,14|
|||970,838.00||||||
|investee under the equity method that|0||||||6.00|
|w8ill be reclassified to profit or loss||||||||
|Gains or losses on changes in fair|||||-108,919,030.00|||
||223,516,407.|-145,225,37||-36,306,343|||114,597,3|
|value of available-for-sale financial||||||||
||00|3.00||.00|||77.00|
|assets||||||||
||245,708,715.00|-144,254,53||-36,306,343|-107,948,192.00||137,760,523.00|
|Total||||||||
|||5.00||.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 2016 44.Surplus reserve
In RMB
||||||
|-|-|-|-|-|
|Items|Year-beginning balance|Increase in the current|Decrease in the current|Year-end balance|
|||period|period||
|Statutory surplus reserve|2,133,658,624.0|0 295,088,584.00||2,428,747,208.00|
|Optional surplus reserves|3,678,533,151.0|0 737,721,459.00||4,416,254,610.00|
|Total|5,812,191,775.0|0 1,032,810,043.00|0.00|6,845,001,818.00|

 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 20 May 2016, the Company appropriated10% of net profit for 2015, amounted to RMB295,088,584.00, to the statutory surplus reserve, and appropriate25% of net profit for 2015, amounted to RMB737,721,459.00, to discretionary surplus reserve.
45. Retained profits
In RMB
||||
|-|-|-|
|Items|Amount of this period|Amount of last period|
|Before adjustments: Retained profits at the period|||
||7,439,335,347.00|6,952,985,107.00|
|end|||
|After adjustments: Retained profits at the period|7,439,335,347.00||
|||6,952,985,107.00|
|beginning|||
|Add: Net profit attributable to owners of the|||
||738,374,784.00|3,237,733,312.00|
|Company for the period|||
|Less: Appropriation to statutory surplus reserve|295,088,584.00|286,082,403.00|
|Drawing discretionary surplus reserve|737,721,459.00|715,206,007.00|
|DrawingCommon risk provision|1,207,565,316.00|875,047,331.00|
|Payable dividends of common shares||875,047,331.00|
|Retained profits at the period end|5,937,334,772.00||

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 .
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 (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 .
46. Business income, Business cost
In RMB
||||||
|-|-|-|-|-|
||Amount of current period||Amount of previous period||
|Items|||||
||Income|Cost|Income|Cost|
|Main Business|10,169,505,901.00|7,754,418,633.00|12,829,246,738.00|9,165,222,591.00|
|Other Business|65,483,665.00|13,491,596.00|82,306,494.00|16,499,428.00|
|Total|10,234,989,566.00|7,767,910,229.00|12,911,553,232.00|9,181,722,019.00|

 36. Business tax and surcharges
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Business tax|1,796,574.00|4,537,938.00|
|Urban construction tax|40,671,220.00|54,939,268.00|
|Education surcharge|33,640,249.00|46,485,500.00|
|Total|76,108,043.00|105,962,706.00|

 Othernotes：
48.Sales expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Business expense|279,213.00|821,137.00|
|Employee’s remuneration|450,769.00||
|Publicity Expenses|4,393.00||
|Depreciation expenses|2,093.00||
|Other|0.00|0.00|
|Total|736,468.00|821,137.00|

 Othernotes：
49.Administrative expenses
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Employee’s remuneration|147,466,219.00|174,984,163.00|
|Depreciation expenses|23,457,108.00|22,690,907.00|
|Repair charge|10,086,337.00|3,760,763.00|
|Office expenses|4,771,214.00|6,209,864.00|
|Insurance expenses|1,453,645.00|1,851,678.00|
|Travel expenses|2,715,825.00|2,651,430.00|
|Board of directors|460,554.00|701,036.00|
|Entertainment expenses|1,834,873.00|4,505,106.00|
|Lowsuit expenses|467,223.00|1,023,219.00|
|Amortiation of Intangible assets|24,511,460.00|24,175,132.00|
|Sewage charges|13,990,188.00|12,863,994.00|
|Consulting fee|1,848,638.00|1,788,654.00|
|Agency Charge|3,553,830.00|3,233,082.00|
|Tax fee|46,610,078.00|50,922,398.00|
|Property Management|6,832,089.00|7,692,885.00|
|Property Management|18,244,479.00|12,328,317.00|
|Embankment protection fees|5,193,707.00|6,200,430.00|
|Health afforestation fees|6,616,228.00|5,894,982.00|
|Other|28,616,698.00|30,885,247.00|
|Total|348,730,393.00|374,363,287.00|

 Othernotes：
50.Financial Expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Interest expenses|||
||727,776,774.00|843,968,072.00|
|Interest income|||
||-33,067,804.00|-33,436,364.00|
|Other|7,263,461.00|1,733,572.00|
|Total|701,972,431.00|812,265,280.00|

 Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 51.Loss of assets impairment
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Total|0.00||

Othernotes：
52. Investment income
In RMB
||||
|-|-|-|
|Items|Amount of this period|Amount of last period|
|Investment income from the disposal of|||
||126,201,534.00|316,251,814.00|
|long-term equity investment|||
|Investment income from the disposal of|||
|||152,042,682.00|
|long-term equity investment|||
|Investment income gain from available for sale|||
||2,520,000.00|2,400,000.00|
|financial assets|||
|Other||49,276,222.00|
|Total|128,721,534.00|519,970,718.00|

 Othernotes：
53. 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|130,677.00|894,294.00||
||||130,677.00|
|non-current assets||||
|Including：Gains from disposal||||
||130,677.00|894,267.00|130,677.00|
|of fixed assets||||
|Government Subsidy|8,896,831.00|19,733,641.00|4,330,234.37|
|Insurance indemnity|477,753.00|||
|Other|1,104,450.00|572,205.00|1,104,450.00|
|Total|10,609,711.00|21,200,140.00|5,565,361.37|

 Government subsidy reckoned into current gains/losses
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||||
|-|-|-|-|-|-|-|-|-|
|||||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|||||
||||Because||||||
||||company||||||
||||work on||||||
||||specific||||||
||||industry that||||||
||||country||||||
|Income of|||encourage||||||
|levy and|Taxation||and support,|||||Related to|
|||Subsidy||Yes|No|4,581,692.00|6,719,511.00||
|refund of V|Department||the company|||||income|
|AT|||received||||||
||||grants||||||
||||(according to||||||
||||national||||||
||||policy legally||||||
||||obtained)||||||
||||Research and||||||
|Amortization|Local||development,||||||
|of|Economic||technical|||||Related to|
|||Subsidy||No|No|2,680,962.00|1,667,315.00||
|Government|Information||updating and|||||assets|
|S ubsidy|Committee||transformatio||||||
||||n of subsidies||||||
||||Research and||||||
|Energy|Local||development,||||||
|conservation|Economic||technical|||||Related to|
|||Subsidy||No|No|1,519,854.00|1,000,000.00||
|and emission|Information||updating and|||||assets|
|reduction|Committee||transformatio||||||
||||n of subsidies||||||
||||In line with||||||
||||the local||||||
||Local||government||||||
|Purchase|Economic||investment|||||Related to|
|natural gas||Subsidy|promotion|Yes|Yes|96,323.00|9,576,815.00||
||Information|||||||income|
|subsidies|||and capital||||||
||Committee||||||||
||||introduction||||||
||||and other||||||
||||local support||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||||
|-|-|-|-|-|-|-|-|-|
||||policy for||||||
||||assistance||||||
||||Because||||||
||||company||||||
||||work on||||||
||||specific||||||
||||industry that||||||
||||country||||||
||Local||encourage||||||
||Environment||and support,|||||Related to|
|Other||Subsidy||Yes|No|18,000.00|770,000.00||
||al Protection||the company|||||income|
||Bureau||received||||||
||||grants||||||
||||(according to||||||
||||national||||||
||||policy legally||||||
||||obtained)||||||
||||||||19,733,641.0||
|Total|--|--|--|--|--|8,896,831.00||--|
||||||||0||

Othernotes：
54．Non-current expenses
In RMB
|||||
|-|-|-|-|
||Amount of current period|Amount of previous period|The amount of non-operating|
|Items||||
||||gains & lossed|
|Total of non-current asset|170,836.00|257,135.00||
||||170,836.00|
|Disposition loss||||
|Incl: loss of fixed assets||||
||170,836.00|257,135.00|170,836.00|
|disposition||||
|Foreign donations|137,791.00|453,756.00|137,791.00|
|Fine for delaying payment|13,653,861.00||13,653,861.00|
|Other|205,312.00|353,824.00|205,312.00|
|Total|14,167,800.00|1,064,715.00|2,509,830.00|

 Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 55. Income tax expenses
（1）．Income tax expenses
In RMB
||||
|-|-|-|
||Amount of current period|Amount of previous period|
|Items|||
|Current income tax expense|350,307,854.00|594,165,352.00|
|Deferred income tax expense|384,615.00|-515,517.00|
|Other|64,789,601.00|-15,261,113.00|
|Total|415,482,070.00|578,388,722.00|

（2）Adjustment on accounting profit and income tax expenses
In RMB
|||
|-|-|
|Items|Amount of current period|
|Total profits|1,464,695,447.00|
|Income tax expenses calculated on legal / applicable tax rate|369,088,354.25|
|Impact of different tax rates of subsidiaries|-758,885.16|
|Impact of different tax rates of subsidiaries|64,789,601.00|
|Impact of non-taxable income|-30,218,051.83|
|Impact of un-deductible costs, epenses or losses\|11,468,361.35|
|Impact of deductible loss of un-recognized deferred income||
||97,814.25|
|taxassets of previous periods||
|Impact of deductible temporary difference of un-recognized||
||4,979,242.34|
|deferred income tax asset of current period||
|Other|-1,049,874.69|
|Income tax expenses|415,482,070.00|

 Other notes
45.Other comprehensive income
Refer to Notes VII.43.
57.Items of Cash flow statement
（1）Other cash received from business operation
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Interest income|29,012,531.00|29,696,988.55|
|Government Subsidy|36,308,663.00|7,359,948.97|
|Insurance indemnity|24,365,929.00|31,632,432.88|
|Rent income|5,037,423.00|2,541,202.00|
|Other|18,484,430.00|10,626,809.60|
|Total|113,208,976.00|81,857,382.00|

 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|10,425,276.82|13,877,054.00|
|Insurance expenses|50,340,310.06|31,629,074.00|
|Equipment cleaning and hygiene green fee|19,043,218.01|17,590,064.00|
|Transportation fee|11,982,439.35|18,117,316.00|
|Fire guard fee|18,244,478.83|12,328,317.00|
|Business fee|1,834,873.29|5,199,597.00|
|Agency Charge|5,402,468.61|5,021,736.00|
|Embankment protection fees|5,193,707.46|6,200,427.00|
|Office Expense|6,669,309.63|8,180,473.00|
|Travel expenses|4,529,068.81|4,546,391.00|
|Rental fee|6,359,971.79|7,263,680.00|
|Enterprise publicity expenses|1,556,472.89|2,538,460.00|
|Information system maintenance|2,703,512.64|2,794,655.00|
|Water and electrical|4,485,490.28|7,645,983.00|
|R&D|3,070,961.84|1,708,666.00|
|Property Management fee|6,832,088.59|7,692,885.00|
|Union expenses|13,742,248.49|12,215,786.00|
|Other|30,276,678.61|78,490,508.00|
|Total|202,692,576.00|243,041,072.00|

 Explanation on other cash paid in relation to perationactivities：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 (3)Cash received related to other investment activities
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Merger of linchang cash||52,028,777.00|
|Total||52,028,777.00|

 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|

（5）Other cash received in relation to financing activities
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|

 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|||
|||50,400,000.00|
|shareholders capital|||
|Total|0.00|50,400,000.00|

 Explanation on cash paid related with financingactivities：
58. 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|1,049,213,377.00|2,398,136,224.00|
|Add: Impairment loss provision of assets|0.00||
|Depreciation of fixed assets, oil and gas|||
||1,967,464,053.00|1,775,451,397.00|
|assets and consumable biological assets|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
||24,511,460.00|24,215,430.00|
|Amortization of intangible assets|||
|Amortization of Long-term deferred|||
||1,422,220.00|1,561,819.00|
|expenses|||
|Loss on disposal of fixed assets, intangible|||
||40,159.00|-637,159.00|
|assets and other long-term deferred assets|||
|Financial cost|727,776,774.00|843,968,072.00|
|Loss on investment|-128,721,534.00|-519,970,718.00|
|Decrease in deferred income tax assets|-12,873,943.00||
|Increased of deferred income tax liabilities|-3,857.00|-515,517.00|
|Decrease of inventories|-125,401,984.00|51,961,457.00|
||90,976,269.00|79,411,520.00|
|Decease of operating receivables|||
|Increased of operating Payable|1,102,097,188.00|1,048,597,909.00|
|Net cash flows arising from operating|4,696,500,182.00|5,702,180,434.00|
|activities|||
|II. Significant investment and financing|||
||--|--|
|activities that without cash flows:|||
|III．Movement of cash and cash equivalents：|--|--|
|Ending balance of cash equivalents|6,108,160,833.00|6,510,700,432.00|
|Less: Beginning balance of cash equivalents|5,227,406,725.00|4,528,277,314.00|
|Net increase of cash and cash equivalents|880,754,108.00|1,982,423,118.00|

 (2)Composition of cash and cash equivalents
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|I. Cash|6,108,160,833.00|5,227,406,725.00|
|Including：Cash at hand|113,033.00|78,223.00|
|Demand bank deposit|6,008,047,800.00|5,227,406,725.00|
|II. Balance of cash and cash equivalents at|6,108,160,833.00|5,227,406,725.00|
|the period end|||
|Including: Using the restiicted cash and|||
|cashequivalents of the parent company or|100,000,000.00|10,000,000.00|
|subsidiary of the Group|||

Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 59. Assets with limitation on ownership or using rights
In RMB
||||
|-|-|-|
|Items|Closing book value|Causation of limitation|
|||Temporary shareholders inject capital|
|||Temporary shareholders inject capital|
|||verification, away from Banks has not yet|
|Monetary capital|100,000,000.00||
|||into basic account, can not be used for the|
|||time being|
|Fixed assets|933,687,769.00|Long-term loans mortgage assets|
|||Unit construction financing Electricity bill|
|Account receivable|258,080,274.00||
|||pledge the transferor|
|Total|1,291,768,043.00|--|

Othernotes：
60.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|--|--|12,238.00|
|Including：USD|185.52|6.63|1,230.00|
|Euro||-||
|HKD|12,880.00|0.85|11,008.00|
|Long –term loans|--|--|201,098,314.00|
|Including：USD|28,600,000.00|6.63|189,652,320.00|
|Euro|1,551,999.00|7.38|11,445,994.00|

 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 VIII. Change in consolidation scope
1. Consolidation of enterprises not under common control
(1) Consolidation of enterprises not under common control occurred in the current period Reasons sfor changed onconsolidation range (such as new subsidairy established, subsidiary liquidated etc. ) and relevant information
The new subsidiary “Guangdong Yudean Yongan Natural gas Thermal Power Co., Ltd.” has invested the down payment of RMB90 million, with90% of investment ratio.
VIII. Equity in other entity
1. Equity in subsidiary
（1）Constitute of enterprise group
||||||||
|-|-|-|-|-|-|-|
|||||Share-holding ratio|||
|Subsidiary|Main operation|Registered place|Business nature|||Acquired way|
|||||Directly|Indirectly||
|Maoming|||Electric||||
||Maoming|Maoming||66.61%||Establish|
|Zhenneng|||||||
|Jianghai Power|Jieyang|Jieyang|Electric|65.00%||Establish|
|Zhangjiang Wind|||Electric||||
||Zhanjiang|Zhangjiang||70.00%||Establish|
|Power|||||||
|Anxin Electric||||||Establish|
||Dongguan|Dongguan|Electric|100.00%|||
|Power Maintenance|||||||
|Humen Power|Dongguan|Dongguan|Electric|60.00%||Establish|
|Bohe Electric|||Electric|||Establish|
||Maoming|Maoming||100.00%|||
|Power|||||||
|||||||Combination|
|Yuheng|||||||
||Zhanjiang|Zhanjiang|Electric||76.00%|under common|
|Electronic|||||||
|||||||control|
|Xuwen Wind|||Electric||||
||Zhangjiang|Zhanjiang|||70.00%|Establish|
|Power|||||||
|Huadu Natural|||||||
||Guangzhou|Guangzhou|Electric|65.00%||Establish|
|gas|||||||
||||Electric||||
|Dapu Power|Meizhou|Meizhou||100.00%||Establish|
|Leizhou Wind|Leizhou|Leizhou|Electric|80.00%|14.00%|Establish|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||
|-|-|-|-|-|-|-|
|Power|||||||
|Dianbai Wind|||Electric||||
||Maoming|Maoming|||100.00%|Establish|
|Power|||||||
|||||||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|
|Qujie Wind|||Electric||||
||Zhanjiang|Zhanjiang||100.00%||Establish|
|Power|||||||
|Yangjiang Wind|||||||
||Yangjiang|Yangjiang|Electric||100.00%|Establish|
|Power|||||||
|||||||Combination|
||||Electric||||
|Lincang Energy|Lincang|Lincang||100.00%||under common|
|||||||control|
|||||||Combination|
|Guangqian|||||||
||Shenzhen|Shenzhen|Electric|100.00%||under common|
|Electric Power|||||||
|||||||control|
|||||||Combination|
|Huizhou Natural|||Electric||||
||Huizhou|Huizhou||67.00%||under common|
|gas|||||||
|||||||control|
|||||||Combination|
|Pinghai Power|||Electric||||
||Huizhou|Huizhou||45.00%||under common|
|Plant|||||||
|||||||control|
|||||||Combination|
|Shibeishan Wind|||||||
||Jieyang|Jieyang|Electric||70.00%|under common|
|Power|||||||
|||||||control|
|||||||Combination|
||||Electric||||
|Red Bay Power|Shanwei|Shanwei||65.00%||under common|
|||||||control|
|||||||Combination|
|Guangdong Wind|Guangzhou|Guangzhou|Electric|100.00%|||
|||||||under common|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||
|-|-|-|-|-|-|-|
|Power||||||control|
|||||||Combination|
|Huilai Wind|||Electric||||
||Jieyang|Jieyang|||70.00%|under common|
|Power|||||||
|||||||control|
|Hongrui|||Electric||||
||Shaoguan|Shaoguan|||90.00%|Establish|
|Technology|||||||
|Yongan Natural|||Electric||||
||Zhaoqing|Zhaoqing||90.00%||Establish|
|gas|||||||

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
||||||
|-|-|-|-|-|
|||Profit or loss attributable|||
||Holding proportion of||Dividend declared to|Closing balance of|
|Name||to non-controlling|||
||non-controlling interest||non-controlling interest|non-controlling interest|
|||interest|||
|Jinghai Power|35.00%|108,087,731.00|305,512,784.00|1,272,104,116.00|
|Zhanjiang Power|24.00%|27,471,345.00|60,153,926.00|965,347,272.00|
|Zhongyue Energy|10.00%|-2,063,493.00|10,521,781.00|145,341,241.00|
|Pinghai Power plant|55.00%|119,832,921.00|129,126,064.00|1,101,679,185.00|
|Red Bay|35.00%|75,100,998.00|203,672,403.00|1,148,725,833.00|

Othernotes：
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016（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||
||||10,276,281,919.00||||||10,728,646,313.00||||
|Jinghai|1,017,92|9,258,35||2,207,91|4,462,57|6,670,49|1,101,43|9,627,21||1,542,00|4,987,98|6,529,99|
|Power|6,492.00|5,427.00||6,370.00|8,662.00|5,032.00|5,458.00|0,855.00||6,215.00|5,332.00|1,547.00|
|Zhanjian|2,614,27|1,755,70|4,369,98|354,811,|6,580,19|361,392,|2,694,75|1,849,56|4,544,31|378,318,|7,541,48|385,859,|
|g Power|3,815.00|8,326.00|2,142.00|895.00|4.00|089.00|5,639.00|2,051.00|7,690.00|484.00|7.00|971.00|
|Zhongyu|952,098,|4,207,22|5,159,32|2,177,77|1,534,69|3,712,46|555,657,|4,779,24|5,334,90|2,220,68|1,534,95|3,755,63|
|e Energy|909.00|9,971.00|8,880.00|6,029.00|3,560.00|9,588.00|794.00|6,579.00|4,373.00|5,027.00|4,199.00|9,226.00|
|Pinghai|||||||||||||
||812,645,|5,407,85|6,220,49|896,605,|3,341,89|4,238,50|1,112,09|5,599,09|6,711,19|1,041,43|3,649,80|4,691,24|
|Power|||||||||||||
||881.00|2,183.00|8,064.00|059.00|7,000.00|2,059.00|4,074.00|6,449.00|0,523.00|8,685.00|2,150.00|0,835.00|
|plant|||||||||||||
||870,468,|7,176,29|8,046,76|2,610,12|2,186,00|4,796,12|991,869,|7,502,92|8,494,79|2,423,77|2,421,60|4,845,37|
|Red Bay|||||||||||||
||697.00|7,888.00|6,585.00|0,089.00|0,000.00|0,089.00|726.00|5,134.00|4,860.00|4,177.00|0,000.00|4,177.00|

 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|1,855,102,28|280,025,789.|280,025,789.|908,604,845.|2,488,474,64|418,126,140.|418,126,140.|1,315,885,09|
|Power|9.00|00|00|00|0.00|00|00|6.00|
|Zhanjiang|694,710,521.|100,773,692.|100,773,692.|221,511,879.|1,142,689,72|250,863,802.|250,863,802.|441,395,633.|
|Power|00|00|00|00|3.00|00|00|00|
|Zhongyue|570,284,153.|-27,188,044.0|-27,188,044.0|220,510,244.|1,079,612,18|93,976,191.0|93,976,191.0|711,561,187.|
|Energy|00|0|0|00|6.00|0|0|00|
|Pinghai|1,042,582,62|196,820,980.|196,820,980.|587,380,149.|2,006,214,92|554,942,588.|554,942,588.|755,716,923.|
|Power plant|5.00|00|00|00|6.00|00|00|00|
||1,452,772,39|183,146,966.|183,146,966.|996,511,695.|1,971,436,14|282,700,367.|282,700,367.|1,380,294,20|
|Red Bay|||||||||
||9.00|00|00|00|6.00|00|00|4.00|

Other notes
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 II. Equity in joint venture or associates
（1）Significant joint ventures or associates
||||||||
|-|-|-|-|-|-|-|
|Joint ventures or|Main operating|Place of||Holding proportion(%)||Accounting|
||||Business nature||||
|associates|place|registration||Direct|Indirect|treatment|
|Joint ventures|||||||
|Industry Fuel|Guangzhou|Guangzhou|Fuel Trade|50.00%||Equity method|
|Associates|||||||
|Taishan Power|Taishan|Taishan|Power Generation|20.00%||Equity method|
|Shanxi Yudean|||||||
||Taiyuan|Taiyuan|Coal|40.00%||Equity method|
|Energy|||||||
|Yudean Finance|Guangzhou|Guangzhou|Finance|25.00%||Equity method|
|Yudean Shipping|Shenzhen|Shenzhen|Shipping|35.00%||Equity method|
|Weixin Yuntou|Zhaotong|Zhaotong|Power Generation|20.44%||Equity method|

 Notes:
The description of Joint ventures or associates is different from the proportion of voting rights of the shares :Hold s20% less of the voting rights but has significant influence, or holds20% or more of the voting rights but does no t have a significant impact on the basis of:
（2）Main financial information of significant joint ventures
In RMB
||||
|-|-|-|
||Closing balance/current period|Opening balance/last period|
||Industry fuel|Industry fuel|
|Current assets|2,165,337,767.00|4,076,268,154.00|
|Including：Cash and cash equivalent|1,015,273,770.00|2,887,513,348.00|
|Non-current assets|249,830,275.00|249,325,646.00|
|Total assets|2,415,168,041.00|4,325,593,800.00|
|Current liabilities|1,302,555,885.00|3,121,089,652.00|
|Non-current liabilities|0.00|0.00|
|Total liabilities|1,302,555,885.00|3,121,089,652.00|
|Minority shareholders’ equity|0.00|0.00|
|Equityattributable to owners of parent|||
||1,112,612,156.00|1,204,504,148.00|
|company|||
|Proportionate share in net assets|556,306,078.00|602,252,074.00|
|Adjustment items|-614,728.00|-614,728.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
|--Goodwill|0.00|0.00|
|-- Internal transaction not realized profit|0.00|0.00|
|--Other|-614,728.00|-614,728.00|
|Book value|555,691,350.00|601,637,346.00|
|Business income|5,301,238,839.00|7,512,806,685.00|
|Financial expenses|-11,516,927.00|-21,173,157.38|
|Income tax expenses|23,172,199.00|28,974,160.67|
|Net profit|68,086,681.00|86,922,482.00|
|Net profit from discontinued operations||0.00|
|Other comprehensive income|0.00|0.00|
|Total comprehensive income|68,086,681.00|86,922,482.00|
|Dividend from joint ventures received|||
||79,989,336.00|74,772,253.00|
|incurrent period|||

Other notes
（3）Main financial information of significant associates
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Closing balance/current period||||Opening balance /Last period||||
||Yudean|Yudean|Shanxi|Taishan|Yudean|Yudean|Shanxi|Taishan|
||Shipping|Finance|Energy|Power|Shipping|Finance|Energy|Power|
|Current|372,854,442.|7,958,046,86|150,943,378.|1,195,893,79|5,483,512,57|17,092,140,7|2,610,090,92|15,711,664,1|
|assets|00|5.00|00|0.00|8.00|93.00|8.00|72.00|
|Non-current|4,890,496,81|11,328,565,6|2,402,214,08|13,995,125,7|1,287,603,15|14,464,523,3|166,074,304.|4,912,638,12|
|assets|7.00|39.00|7.00|95.00|9.00|24.00|00|7.00|
||5,263,351,25|19,286,612,5|2,553,157,46|15,191,019,5|1,508,978,63||160,000,000.|277,500,000.|
|Total assets||||||0.00|||
||9.00|04.00|5.00|85.00|8.00||00|00|
|Current|1,278,870,71|16,722,247,8|247,254,540.|3,913,116,59|2,796,581,79|14,464,523,3|326,074,304.|5,190,138,12|
|liabilities|3.00|33.00|00|0.00|7.00|24.00|00|7.00|
|Non-current|1,331,862,00|||257,500,000.|||||
|||0.00|0.00||0.00|0.00|0.00|0.00|
|Liabilities|9.00|||00|||||
|Total|2,610,732,72|16,722,247,8|247,254,540.|4,170,616,59|2,686,930,78|2,627,617,46|2,284,016,62|10,521,526,0|
|liabilities|2.00|33.00|00|0.00|1.00|9.00|4.00|45.00|
|Minorityshar|||||||||
|eholder’|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|
|Equity|||||||||
|Equity|2,652,618,53|2,564,364,67|2,305,902,92|11,020,402,9|2,686,930,78|2,627,617,46|2,284,016,62|10,521,526,0|
|attributable to|7.00|1.00|6.00|95.00|1.00|9.00|4.00|45.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||||||
|-|-|-|-|-|-|-|-|-|
|owners of|||||||||
|parent|||||||||
|company|||||||||
|Proportionate|||||||||
||928,416,488.|641,091,168.|922,361,170.|2,204,080,59|940,425,774.|656,904,369.|913,606,650.|2,104,305,20|
|share in net|||||||||
||00|00|00|9.00|00|00|00|9.00|
|assets|||||||||
|||13,325,000.0||||13,325,000.0|||
|Adjustment|0.00||0.00|0.00|0.00||0.00|0.00|
|||0||||0|||
|||13,325,000.0||||13,325,000.0|||
|-Goodwill|0.00||0.00|0.00|0.00||0.00|0.00|
|||0||||0|||
|-- Internal|||||||||
|transaction|||||||||
||0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|
|not realized|||||||||
|profit|||||||||
|--Other|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|
||928,416,488.|654,416,168.|922,361,170.|2,204,080,59|940,425,774.|670,229,369.|913,606,650.|2,104,305,20|
|Book value|||||||||
||00|00|00|9.00|00|00|00|9.00|
|Business|540,216,885.|297,690,340.||2,706,581,67|735,866,004.|359,207,495.||4,144,646,75|
||||563,903.00||||0.00||
|income|00|00||1.00|00|00||4.00|
||-23,252,464.0|174,374,625.|21,886,301.0|584,920,161.|10,049,575.0|195,755,131.|84,428,721.0|1,052,152,43|
|Net profit|||||||||
||0|00|0|00|0|00|0|0.00|
|Net profit|||||||||
|from|||||||||
||0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|
|discontinued|||||||||
|operations|||||||||
|Other|||||||||
|comprehensi|0.00|0.00|0.00|0.00|0.00|0.00|0.00|0.00|
|ve income|||||||||
|Total|||||||||
||-23,252,464.0|174,374,625.|21,886,301.0|584,920,161.|10,049,575.0|195,755,131.|84,428,721.0|1,052,152,43|
|comprehensi|||||||||
||0|00|0|00|0|00|0|0.00|
|ve income|||||||||
|Dividendfro|||||||||
|m associates|||||||||
|||59,406,856.0|||15,835,300.0|57,535,462.0|||
|received in|4,556,452.00||0.00|0.00|||0.00|0.00|
|||0|||0|0|||
|current|||||||||
|period|||||||||

Other notes
（4）Aggregated financial information of insignificant joint ventures and associates
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||
|-|-|-|
||Closing balance/Current period|Opening balance/Last period|
|Joint ventures：|--|--|
|Total book value of investment|--|--|
|Associates ：|--|--|
|Total Proportionate share|--|--|

Other notes
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.
As at 31 June 2015 and 31 December 2013, 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 3.5 billion, 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;
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 (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.
The following tables show the remaining contractual maturities at the balance sheet date
of theGroup’s financial liabilities, which are based on contractual cash flows (including
interest payments computed using contractual rates or, if floating, based on rates current
on 31 December) and the earliest date the Group can be required to pay:
(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|||||
||408,125,115.00|||408,125,115.00|
|financial assets|||||
|（2）Investment interest|||||
||408,125,115.00|||408,125,115.00|
|tools|||||
|II. Non –persistent|||||
||--|--|--|--|
|measure|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 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.
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
Ultimate controller os the Company is Guangdong ProvincialPeople’s Govemment state owned assets supervision and Administration Commission.
Notes：
2.Subsidiary of the Enterprise
See to Notes IX.1.
3.Cooperative enterprise and joint venture
See Notes IX.2.
Other cooperative enterprise and joint venture that have related transaction with the Company in the Period or occurred in perviousperiod：
|||
|-|-|
|Name|Relationship|
|Industry Fuel|Joint venture|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||
|-|-|
|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|
|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|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||
|-|-|
|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|

Other notes
5. Related Transactions
（1）Goods purchasing, labor service providing and receiving
Goods purchasing/labor service receiving
In RMB
|||||||
|-|-|-|-|-|-|
|||||Whether over the||
|Related party|Content|Current amount|Approval trading limit||Last amount|
|||||trading limit(Y/N)||
|Fuel Company|Fuel purchase|2,921,964,877.00||No|4,252,984,216.56|
|Yudean||||||
|Environment|Material purchase|37,885,800.00||No|51,944,370.54|
|Protection||||||
||Acceptance of|||||
|Yudean Shipping||11,287,925.00||No|13,434,905.68|
||tugboat services|||||
||Acceptance of|||||
|Yudean Property||||||
||management|13,161,382.00||No|11,342,256.08|
|Management||||||
||services|||||
|Guangzhou||||||
|Huangpu Electric|Maintenance|||||
|||2,823,555.00||No|8,867,503.05|
|Power Engineering|services|||||
|Co., Ltd.||||||
||Acceptance of|||||
|Yangjiang Port||2,324,268.00||No|4,114,968.88|
||tugboat services|||||
|Yudean Property|Leasing service|1,071,805.00||No|3,055,092.00|
||Acceptance of|||||
|Yudean Information|management|1,202,279.00||No|1,236,372.93|
||services|||||
|Huangpu Yuehua|Human receivaces|1,481,840.00||No|1,016,666.65|

 Sales of goods and services
In RMB
|||||
|-|-|-|-|
|Related parties|Content|Occurred current term|Occurred in previous term|
|Yudean Environment Protection|Sale of Material|32,839,559.53|47,618,619.13|
|Shajiao C|Providing maintenance|12,187,615.41|14,094,728.22|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||
|-|-|-|-|
||services|||
|Zhuhai Jinwan Power|Providing maintenance|||
|||1,229,312.10|2,115,483.14|
|Generation Co., Ltd.|services|||
|Guangdong Haidian Shipping||||
||Service|2,912.82||
|Co., Ltd.||||

Notes
（2）Information of related lease
The Company was lessor
In RMB
|||||
|-|-|-|-|
|||The lease income confirmed in|The lease income confirmed in|
|Name of lessee|Category of lease assets|||
|||this year|last year|

The company was lessee
In RMB
|||||
|-|-|-|-|
|||The lease income confirmed in||
|Lessor|Category of leased assets||Category of leased assets|
|||this year||
|Yudean Property|Property Leasing|2,171,974.00|2,655,732.00|
|Maoming Thermal power plant|Property Leasing|51,802.00|0.00|

 Notes
（3）Status of related party guarantee
As a guarantor for the company
In RMB
||||||
|-|-|-|-|-|
|||||Execution accomplished|
|Guarantor|Guarantee amount|Start date|End date||
|||||or not|
|Weixin Yuntou|114,000,000.00|April 19,2013|April 18,2028|No|
|Binlangjiang|99,000,000.00|April 2,2008|June 5,2026|No|
|Binlangjiang|43,000,000.00|October 31,2008|October 31,2023|No|
|Binlangjiang|29,000,000.00|December 19,2007|December 18,2022|No|
|Binlangjiang|14,500,000.00|August 31,2005|August 30,2020|No|
|Binlangjiang|70,470,000.00|August 25,2009|August 24,2027|No|
|Binlangjiang|16,820,000.00|November 14,2008|November 14,2018|No|
|Binlangjiang|36,250,000.00|May 27,2009|May 27,2021|No|
|Zhanjiang Wind Power|185,716,960.00|March 3,2011|March 2,2029|No|
|Yuejiang Power|78,300,000.00|July 3,2014|July 2,2019|No|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||
|-|-|-|-|-|
|Yuejiang Power|69,300,000.00|July 3,2014|July 2,2019|No|

As a secured party for the company
In RMB
||||||
|-|-|-|-|-|
|||||Execution accomplished|
|Guarantor|Guarantee amount|Start date|End date||
|||||or not|
|Yudean Group|1,500,000,000.00|August 14,2013|August 13,2022|No|

Statement on related guarantees
（4）Related party funds
In RMB
||||||
|-|-|-|-|-|
|Related parties|Amount of demolition|Start date|Expired on|Remarks|
|Borrow in|||||
|Guangdong Yudean|||||
||1,050,000,000.00|May 20,2014|May 19,2017||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||100,000,000.00|January 8,2016|July 7,2016||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||80,000,000.00|February 16,2016|August 15,2016||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||70,000,000.00|February 24,2016|August 23,2016||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||100,000,000.00|March 23,2016|Septement 22 ,2016||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||100,000,000.00|June 12,2016|December 9,2016||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||100,000,000.00|June 16,2016|June 15,2017||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||50,000,000.00|June 28,2016|June 27,2017||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||150,000,000.00|January 1,2016|October 13,2029||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||340,701,463.00|December 25,2013|December 24,2028||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||250,000,000.00|December 6,2007|December 21,2028||
|Finance Co., Ltd.|||||
|Guangdong Yudean|||||
||50,000,000.00|January 20, 2016|July 9,2016||
|Finance Co., Ltd.|||||
|Guangdong Yudean|500,000,000.00|June 21,2016|December 20,2016||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||
|-|-|-|-|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||48,300,000.00|August 21,2012|August 21,2022|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000.00|September 28,2015|September 27,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|December 21,2015|December 20,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|March 30,2016|March 29,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000.00|April 18,2016|April 17,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|June 7,2016|June 6,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||150,000,000.00|June 20,2016|June 19,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||79,400,000.00|March 11,2013|March 10,2031|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||200,000,000.00|December 17,2015|December 16,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|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 19,2015|October 27,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|September 28,2015|March 3,2017|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||
|-|-|-|-|
|Guangdong Yudean||||
||30,000,000.00|February 11, 2015|February 10,2033|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||7,000,000.00|June 9,2015|February 10,2033|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||5,000,000.00|July 2,2015|February 10,2033|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||11,500,000.00|August 12,2015|February 10,2033|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||4,000,000.00|September 29,2015|February 10,2033|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||4,000,000.00|December 16,2015|February 10,2033|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||3,000,000.00|January 27,2016|February 10,2033|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||1,000,000.00|March 3,2016|February 10,2033|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||40,000,000.00|August 11, 2015|August 10,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000.00|December 15,2015|December 14,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|April 13,2016|April 12,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||15,000,000.00|June 3,2016|June 2,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|June 6,2016|June 5,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||15,000,000.00|June 17,2016|June 16,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||50,000,000.00|November 17,2015|November 16,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000.00|December 16,2015|December 15,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000.00|January 18,2016|January 17,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000.00|February 16,2016|February 15,20175日|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|March 24,2016|March 23,2017|
|Finance Co., Ltd.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||
|-|-|-|-|
|Guangdong Yudean||||
||30,000,000.00|April 12,2016|April 11, 2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||10,000,000.00|May 6,2016|May 5,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||30,000,000.00|May 10,2016|May 9,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|June 2, 2016|June 1, 2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|June 17,2016|June 16,2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||20,000,000.00|July 17,2015|July 16,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||70,000,000.00|July 28,2015|July 27,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||100,000,000.00|August 27,2015|August 26,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||120,000,000.00|December 14,2015|December 13,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||75,000,000.00|December 29,2015|December 28,2016|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||480,000,000.00|May 24,2016|May 22, 2017|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||138,888,888.88|December 19,2013|December 19,2018|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||296,774,193.54|January 15,2014|January 15,2029|
|Finance Co., Ltd.||||
|Guangdong Yudean||||
||285,000,000.00|October 27,2015|March 20,2017|
|Finance Co., Ltd.||||
|Lend out||||

（5）Rewards for key management personnel
In RMB
||||
|-|-|-|
||Amount of current period|Amount of previous period|
|Items|||
|Annual salary|3,128,044.00|3,175,561.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016（6）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, 2016, the common expenses received by the Group from Shajiao C was RMB1,498,424.06.
(b) Interest income
June 30, 2016 June 30, 2015
Deposit income paid form Yudean Finance 28,900,684 26,818,606
Percentage of interest income 87.40% 80.21%
(c)Interest expense
June 30, 2016 June 30, 2015
Loan interest paid to Yudean Finance 133,064,560.78 152,203,390.08
Total 152,203,390 17,129,771
Percentage of interest expenses 18.28% 18.03%
(d) Joint investment
As at 30 June 2016, the Group invests in the following subsidiaries, jiont ventures and associates with Yudean: Percentage of equity
Attributable to Yudean
Yudean Finance 65%
Industry Fuel 50%
Shanxi Yudean Energy 60%
West investment 35%
Yudean Shipping 45%
6. Payables and receivables of the related party
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016（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||5,211,066,509.00||4,447,603,905.00||
||Finance Co., Ltd.|||||
|Account receivable|Shajiao C|14,692,146.00||24,221,331.00||
||Guangdong|||||
|Account receivable||197,600.00||168,889.00||
||ZhuhaiJinwan Power|||||
||Guangdong Yudean|||||
|Account receivable|Group Co.,|721,249.00||2,018,914.00||
||Ltd.Zhuhai Power|||||
||Biomass Electric|||||
|Account receivable||0.00||3,153,754.00||
||Power|||||
|Account receivable|Yunhe Power|1,178,938.00||3,161,929.00||
||Guangdong Yudean|||||
|Other receivable|Environmental|37,528,814.00||86,039,277.00||
||protection|||||
|Other receivable|Shajiao C|577,016.00||1,509,650.00||
|Other receivable|Yudean PI|1,128,256.00||942,476.00||
|Other receivable|Yudean PM|308,048.00||308,048.00||
||Yudean Menghua|||||
|Other receivable||16,320.00||380,895.00||
||New Energy|||||
|Other receivable|Haolingwan LNG|1,032,863.00||272,703.00||
||Guangdong Yudean|||||
|Interest receivable||14,987,275.00||10,232,658.00||
||Finance Co., Ltd.|||||
||Shanxi Yudean|||||
|Dividend receivable||0.00||4,000,000.00||
||Energy|||||
||Guangdong Fuel|||||
|Prepayment||748,337,748.00||1,034,675,387.00||
||Company|||||
||Yudean|||||
|Prepayment|InformationTechnol|177,925.00||0.00||
||ogy|||||

（2）Payables
In RMB
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||
|-|-|-|-|
|Name|Related party|Amount at year end|Amount at year beginning|
|Account payable|Guangdong Fuel Company|855,141,943.00|1,090,694,619.00|
|Account payable|Manming Thermal power|94,577,497.00|94,009,782.00|
||Guangdong Yudean|||
|Account payable||26,661,907.00|27,097,883.00|
||Environmental Protection|||
||Guangdong Yudean|||
|Account payable||272,474.00|0.00|
||InformationTechnology|||
|Account payable|Guangdong Yudean Shipping|7,020,000.00|0.00|
|Account payable|Shaoguan Power|3,544,826.00|0.00|
|Other payable|Maoming Thermal power|1,200,000.00|4,200,000.00|
|Other payable|Shaoguan Power|7,149,091.00|9,949,230.00|
||Guangdong Yudean|||
|Other payable||1,084,284.00|1,384,284.00|
||Environmental Protection|||
|Other payable|Guangzhou Huangpu Power|7,918,192.00|12,931,844.00|
|Other payable|Guangdong Yudean Shipping|0.00|4,580,000.00|
|Other payable|Guangdong Yudean Property|3,278,096.00|2,439,992.00|
||Guangdong Yudean|||
|Other payable||0.00|37,500.00|
||Xinfengjiang|||
||Guangzhou Huangpu Yuehua|||
|Other payable||3,542,250.00|3,313,500.00|
||Power|||
||Guangdong Yudean Information|||
|Other payable||0.00|142,500.00|
||Technology|||
||Shenzhen Tianxin Insurance|||
|Other payable||70,000.00|70,000.00|
||Broker|||
|Other payable|Guangdong Yuehua Power|0.00|36,156.00|
||Guangdong Yudean Finance|||
|Interest payable||37,798,880.00|8,839,015.00|
||Co., Ltd.|||
||Guangdong Yudean Finance|||
|Bill payable||274,508,034.00|250,000,000.00|
||Co., Ltd.|||
||Guangdong Yudean Finance|||
|Short-term loan||4,450,000,000.00|4,315,000,000.00|
||Co., Ltd.|||
|Non-current liability due in 1|Guangdong Yudean Finance|||
|||96,989,846.00|133,781,362.00|
|year|Co., Ltd.|||
||Guangdong Yudean Finance|||
|Long-term loan||2,185,074,699.00|2,213,072,401.00|
||Co., Ltd.|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 XIII.Commitment events and subsequent events
1.Importance commitment events
Important commitments of existence of balance sheet date
1.Foreign investment commitments
(a)The Proposal on Setting-up Zhaoqing Dinghu Thermoelectricity Project Company was approved in the signature passing-back meeting of thecompany’s board of directors on March 25, 2016. In order to speed up each work of Zhaoqing Dinghu natural gas thermoelectricity-cogeneration project, the board agreed that the company and Zhaoqing He Jiang Electric Power Development Co., Ltd together set up the project company in Zhaoqing Dinghu area in the equity proportion of90%:10%, of which the initial registered capital is RMB 100 million, thus according to the equity proportion, the company shall contribute RMB 90 million for taking90% of the total equity. As of June 30, 2016, the company has contributed RMB 90 million to Guangdong Yudean Yongan Natural Gas Thermal Power Co., Ltd in connection with the project.
(b) The Proposal on Investment to the Construction of Guangdong Yudean Heping Ziyunzhang Wind Farm was approved in the signature passing-back meeting of thecompany’s board of directors on June 7, 2016. In order to speed up the development of new energy, continuously increase the proportion of new energy and meet the requirements of the national renewable energy quota system, the board of directors agreed that the company increases funding of RMB 136.87 million to Guangdong Provincial Wind Power Co., Ltd and that money will be took as the capital to invest in the construction of Ziyunzhang Wind Farm Project. As at 30 June 2016, the Company has not made capital contribution.
2.Investment commitement
(a) 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 2016, the Company has not made capital contribution.
(b) 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 RMB500,000,000 registered capital. The registered name is subject to the approval of industrial and commercial department. Subsequent to the initial injection of RMB200,000,000, the Company will inject the capital in batches based on the business development. As at 30 June 2016, he Company injected RMB230,000,000 to Electricity Sale.
(c) 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 RMB19,500,000 to Guangdong Yudean Huadu Natural Gas Thermal Power Co., Ltd. based on its65% shareholding proportion. As a 30 June 2016, the Company injected RMB19,500,000 to Huadu Natural Gas Thermal Power.
(d) 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
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 Wind Power Project. The registered capital is tentatively set at RMB900,000,000. The Company is required to invest RMB90,000,000 as10% of the total capital of the project. As at 30 June 2016, the Company injected RMB70,000,000 to South Wind Power
(e) The Seventh Session of the Board passed the resolution of “Capital Increase in Weixin Yuntou Yudean Zhaxi Energy Co., Ltd.” during its 10th meeting on 21 August 2012, pursuant which the Company will inject RMB239,600,000 to its associated company Weixin Yuntou based on its40% shareholding proportion. The Company injected a total of RMB733,600,000 following the capital injection. As at 30 June 2016, the capital injection from the Company to Weixin Yuntou was RMB200,000,000.
(f) 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 RMB1,104,000,000(20% of the total project investment RMB 5,520,000,000) in batches based on the construction progress. As at 30 June 2016, the Company invested RMB1,000,000,000 to Dabu Electric.
(g) 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 RMB854,570,000 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 RMB1,375,000,000 to Bohe Coal for the construction of Bohe electric plant. The injection of the initial capital of Bohe Coal of RMB285 million was completed. The subsequent injection of RMB1,090,000,000 will be made in batches based on the capital requirement of the project. The foresaid capital commitment is totaled at RMB2,229,570,000. As at 30 June 2016, the Company injected RMB1,985,000,000 to Bohe Coal.
(h) The Sixth Session of the Board agreed to increase its capital in theCompany’s associated company Shantou 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 RMB35,000,000 to Shantou Wind Power based on its25% shareholding proportion. The injection would be made in batches based on the contrsuction progress. As at 30 June 2016, the Company injected RMB12,472,500 to Shantou Wind Power.
(i) The Sixth Session of the Board passed the reolution of “Capital Increase in Guangdong Yudean Jinghai Power Co., Ltd.” during its 11th metting on 15 April 2010, pursuant to which the Company agreed to inject RMB565,025,500 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 2016, the Company injected RMB445,014,000 to Jinhai Power.
(j) 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 RMB140,000,000 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 2016, the Company injected RMB75,733,000 to Zhanjiang Wind Power. (k) 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, 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 RMB162,450,000 and is responsible for the development of Hongxinlou wind power project (49.5MW). Zhanjiang Wind Power shall inject capital in Leizhou Wind Power through the Company and other shareholders of Zhanjiang Wind Power, in which the injections of
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 the Company will not surpass RMB106,718,700 and that of Zhanjiang Wind Power not more than RMB162,450,000. As at30，June 2016, Zhanjiang Wind Power invested RMB20,000,000 to Leizhou Wind Power. the Company injected RMB80,800.,000 to Leizhou Wind Power.
(l) The Eighth Session of the Board passed the resolution of “Establishment of Guangdong Yudean Qujie Wind Power Co., Ltd” during its 3rd meeting on 28 October 2014, pursuant to which the Company agrees to establish Guangdong Yudean Qujie Wind Power Co., Ltd as its wholly-owned subsidiary to promote the subsequent development and construction of wind power project in Xuwen area of Zhanjiang. The Company is required to inject RMB231,750,000 for the construction and operation of Shibanling Wind Power project (total installed capacity of 49.5MW) and Qujie Wind Power project (total installed capacity of 99MW), in which the first batch of injection is RMB60,000,000 and the rest will be made in batches based on the project progress. As at 30 June 2016, the Company has made accumulated capital injection of RMB200,000,000.
2.Contingency
（1）Significant contingency at banlance sheet date
As at 30 June 2016, the Group Provides joint guarntee for bank borrowings amounted to RMB 309,040,000 of Binlangjiang ; Bank borrowings amounted to RMB114,000,000 of Weixin Yuntou .
（2）The Company have no significant contingency to disclose, also should be stated
The was no significant contingency in the Company.
XIV. Post-balance-sheet events
1. Other explanation after balance sheet date.
XV. Other significant events
1.Suspension of operations
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||||Suspended|
|||||Income tax||operation profit|
|Items|Income|Expenses|Total profit||Net profit||
|||||expenses||attributable to the|
|||||||owners of paren|

 Other notes
2.Segment reporting
(1) Segment profits and losses, assets and liabilities
In accordance with internal organisation structure, management requirements and internal report system, the Group
has identified eight reportable segments, which are independent business units that provide different products or
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 service, or operate in the different areas. Different businesses or areas require different technologies and marketing strategies, the Group, therefore, separately manages the production and operation of each reportable segment and evaluates their operating results respectively, in order to make decisions about resources to be allocated to these segments and to assess their performance.
Inter-segment transfers are measured by making reference to the sales to third parties.
The assets are allocated based on relevant incomes and expenses, assets and liabilities of segment operation.（2）Financial information of reporting branches
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||Parent|Jinghai|Huizhou||Zhanjiang|Zhongyue||Partial||
|Items||||Red Bay|||Other||Total|
||Company|Power|Pinghai||Power|Enerty||offset||
|Main||||||||||
||816,878,604|1,880,451,6|1,063,061,6|1,475,204,2|707,956,450|575,668,891|3,844,850,6|-194,566,18|10,169,505,|
|Buinsess||||||||||
||.00|04.00|51.00|17.00|.00|.00|65.00|1.00|901.00|
|Income||||||||||
|Main||||||||||
||625,126,958|1,275,848,7|661,920,661|1,063,901,2|552,295,811|513,136,579|3,084,444,2|-22,255,624|7,754,418,6|
|Buinsess||||||||||
||.00|11.00|.00|42.00|.00|.00|96.00|.00|33.00|
|Cost||||||||||
||1,874,576,0|429,987,581|290,504,052|291,585,175|159,903,059|-27,646,189|401,814,068|-1,944,370,|1,476,353,4|
|Profit Total||||||||||
||68.00|.00|.00|.00|.00|.00|.00|396.00|17.00|
||28,365,188,|10,314,676,|6,249,507,4|8,076,415,1|4,388,235,8|5,168,066,3|30,258,654,|-20,779,400|72,041,344,|
|Assets Total||||||||||
||283.00|987.00|76.00|51.00|01.00|71.00|840.00|,545.00|364.00|
|Liability|6,366,133,7|6,680,093,7|4,245,754,4|4,794,341,3|365,955,504|3,714,653,9|19,905,703,|-3,220,368,|42,852,267,|
|Total|00.00|99.00|11.00|41.00|.00|61.00|361.00|545.00|533.00|

（3）Other notes
XVI..Notes s of main items in financial reports of parent company
1.Account receivable
（1）Classification Account receivable :
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Year-end balance|||||Year-beginning balance|||||
||||Provision for bad||||||||
||Book balance|||||Proportion（%）||Provision for bad debts|||
|Classification|||debts||Book||||||
|||||||||||Book value|
|||Proportio||Proportion（%）|value||Proportio||Proportion（%）||
||Amount||Amount|||Amount||Amount|||
|||n（%）|||||n（%）||||
|Receivables with|245,174,||||245,174,3|134,539||||134,539,66|
|||100.00%|||||100.00%|0.00|||
|major individual|390.00||||90.00|,664.00||||4.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||
|-|-|-|-|-|-|-|-|
|amount and bad debt||||||||
|provision provided||||||||
|individually||||||||
|receivables with||||||||
|major individual||||||||
|amount and bad debt||||||||
|provision provided||||||||
|individually||||||||
|Account receivable||||||||
|with minor individual||||||||
|||0.00%|0.00|0.00|0.00%|0.00|0.00|
|amount but bad debt||||||||
|provision is provided||||||||
|Total|0.00|0.00%|0.00|0.00|0.00%|0.00|0.00|
||245,174,||245,174,390.00|134,539|||134,539,664.00|
|Total||100.00%|||100.00%|||
||390.00|||,664.00||||

 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|
|GPGC||||Full amount recovery is|
||244,360,419.00||||
|||||expected|
|Dongguan Dejin Energy||||Full amount recovery is|
||813,971.00||||
|Technology Co., Ltd.||||expected|
|Total|245,174,390.00||--|--|

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
Account receivable accounts with not minor amount but were provided had debt provisions individually at end of period.
（2）The ending balance of account receivables owed by the imputation of the top five parties
|||||||||
|-|-|-|-|-|-|-|-|
|Name||Amount in year-end|||Bad debt provision|Proportion%||
||||||Proportion%|||
||Total||245,174,390.00||-||100.00%|
|GPGC||244,360,419.00||0||99.67%||
|Dongguan Dejin Energy||813,971.00||0||0.33%||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||
|-|
|Technology Co., Ltd.|

2.Other receivable
（1）Other receivable
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Year-end balance|||||Year-beginning|||||
||||Provision for bad||||||||
||Book balance|||||Book balance||Provision for bad debts|||
|Classification|||debts||Book||||||
|||||||||||Book value|
|||Proportio||Proportio|value||Proportio||Proportion||
||Amount||Amount|||Amount||Amount|||
|||n %||n %|||n %||%||
|Other accounts|||||||||||
|receivable of|||||||||||
|individual|||||||||||
||105,781,||||105,781,4|313,536||||315,838,75|
|significance and||91.68%|0.00||||98.45%|0.00|||
||411.00||||11.00|,154.00||||6.00|
|subject to individual|||||||||||
|impairment|||||||||||
|assessment|||||||||||
|Other accounts|||||||||||
|receivable subject|||||||||||
|to impairment|||||||||||
|assessment by|0.00|0.00%|0.00||0.00|0.00|0.00%|0.00||0.00|
|credit risk|||||||||||
|characteristics of a|||||||||||
|portfolio|||||||||||
|Other accounts|||||||||||
|receivable of|||||||||||
|individual|||||||||||
||9,599,58||||9,599,584|4,946,8||||2,644,292.0|
|insignificance but||8.32%|0.00||||1.55%|0.00|||
||4.00||||.00|94.00||||0|
|subject to individual|||||||||||
|impairment|||||||||||
|assessment|||||||||||
||115,380,||||115,380,995.00|318,483||||318,483,048.00|
|Total||1.00%|||||1.00%||||
||995.00|||||,048.00|||||

 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 Bohe|100,000,000.00||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||
|-|-|-|-|-|
|Coal Co., Ltd.|||||
|Guangdong Yudean|||||
|Enviornmental Pretection|5,781,411.00||||
|Co., Ltd.|||||
|Total|105,781,411.00|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
||||||
|-|-|-|-|-|
||Account Property||End of term|Beginning of term|
|Prepayments forconstruction||352,568.00|||
|Petty cash||1,985,591.00|||
|Other||7,261,425.00|||
||Total||9,599,584.00|0.00|

（2）Natures or contents of other receivable accounts with large amount
In RMB
||||
|-|-|-|
|Natures|End of term|Beginning of term|
|Entrusted loans|100,000,000.00|300,000,000.00|
|Prepayments for construction|352,568.00||
|Income receivable from by product sales|5,781,411.00||
|Petty cash|1,985,591.00|529,203.00|
|Government grants receivable|||
|Other|7,261,425.00|17,953,845.00|
|Total|115,380,995.00|318,483,048.00|

 (3) Top 5 of the closing balance of the accounts receivable colleted according to the arrears party
In RMB
|||||||
|-|-|-|-|-|-|
|Name of the||||Percentage in total||
||Account property|End of term|Age||Bad debt provision|
|Company||||other receivable%||
|Guangdong Yudean||||||
||Sale of accounts|||||
|Environmental||5,781,410.60|Within 1 year|5.01%||
||receivable|||||
|protection||||||
|Dongguan Humen|Water ,electricity|||||
|Jinfan Industrial|chargesm and|4,730,956.09|Within 1 year|4.10%||
|Company|rental fees|||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||
|-|-|-|-|-|
|Guangdong Yudean|Water ,electricity||||
|Group Co., Ltd.|chargesm and rental|577,016.12|Within 1 year|0.50%|
|Shajiao C plant|fees||||
|China Sinopec Sales|||||
|Co., Ltd.Dongguan|Gas deposit|350,000.00|Over 3 years|0.30%|
|Branch|||||
|Shenzhen Guangshen|Water ,||||
|Shajiao B Electric|Electricityand|231,752.00|Within 1year|0.20%|
|Power Co., Ltd.|rental fees||||
|Total|--|11,671,134.81|--|10.12%|

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|17,586,771,604.0||17,131,187,337.0|17,177,271,604.0||16,721,687,337.0|
|||455,584,267.00|||455,584,267.00||
|subsidiaries|0||0|0||0|
|Investment in|||||||
|joint ventures and|5,848,382,748.00|0.00|5,848,382,748.00|5,866,863,217.00||5,866,863,217.00|
|associates|||||||
|Total|23,435,154,352.0||22,979,570,085.00|23,044,134,821.0||22,588,550,554.00|
|||455,584,267.00|||455,584,267.00||
||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|0.00||2,185,334,400.00|||
|Guangdong Yujia|631,679,338.00||||||
|||0.00||631,679,338.00||455,584,267.00|
|Power|||||||
|Maoming|687,458,978.00||||||
|||0.00||687,458,978.00|||
|Zhenneng|||||||
|Guangdong|||||||
|Yudean Jinghai|1,930,395,668.00|0.00||1,930,395,668.00|||
|Power|||||||
|Guangdong|242,277,000.00|0.00||242,277,000.00|||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
||||||
|-|-|-|-|-|
|Yudean|||||
|Zhangjiang Wind|||||
|Power|||||
|Zhangjiang|||||
||1,150,248,115.00|0.00|1,150,248,115.00||
|Zhongyue Energy|||||
|Guangdong|||||
||90,000,000.00|0.00|90,000,000.00||
|Humen Power|||||
|Guangdong|||||
||20,000,000.00|0.00|20,000,000.00||
|Yudean Anxin|||||
|Guangdong|||||
|Yudean Bohe|1,685,000,000.00|300,000,000.00|1,985,000,000.00||
|Electric|||||
|Huizhou Pinghai|||||
||720,311,347.00|0.00|720,311,347.00||
|Power|||||
|Guangdong Red|||||
||2,220,023,386.00|0.00|2,220,023,386.00||
|Bay|||||
|Huizhou Natural|||||
||845,846,646.00|0.00|845,846,646.00||
|Gas|||||
|Guangqian Power|1,353,153,223.00|0.00|1,353,153,223.00||
|Yuejiang Power|856,694,674.00|0.00|856,694,674.00||
|Huadu Natural Gas|78,000,000.00|19,500,000.00|97,500,000.00||
|Dapu Power|1,000,000,000.00|0.00|1,000,000,000.00||
|Province Wind|||||
||542,359,390.00|0.00|542,359,390.00||
|Power|||||
|Leizhou Wind|||||
||80,800,000.00|0.00|80,800,000.00||
|power|||||
|Qujie Wind Power|200,000,000.00|0.00|200,000,000.00||
|Electric Sale|230,000,000.00|0.00|230,000,000.00||
|Lincang Energy|427,689,439.00|0.00|427,689,439.00||
|Yudean Yongan|||||
||0.00|90,000,000.00|90,000,000.00||
|Natural gas|||||
||17,177,271,604.00||17,586,771,604.00|455,584,267.00|
|Total||409,500,000.00|||

（2）Investment in joint ventures and associates
In RMB
||||||
|-|-|-|-|-|
|Name of|Beginnin|Increase/decrease in this period|End of|Balance|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|investee|g of term||||||Announce|||term|of the|
|||||Investme||||||||
|||Increase|Decrease||Other||d for|Provision|||provision|
|||||nt income||Other||||||
|||in|in||comprehe||distributin|for|||on for|
|||||under||changes|||Other|||
|||investmen|investmen||nsive||g cash|impairme|||impairme|
|||||equity||in eqiuty||||||
|||t|t||income||dividend|nt|||nt|
|||||method||||||||
||||||||or profit|||||
|I.Joint venture||||||||||||
|Guangdo||||||||||||
|ng Power|601,637,3|||34,043,34|||79,989,33|||555,691,3||
||||||0.00|0.00||0.00|0.00||0.00|
|Industry|46.00|||0.00|||6.00|||50.00||
|Fuel||||||||||||
||601,637,3|||34,043,34|||79,989,33|||555,691,3||
|Subtotal||0.00|0.00||0.00|0.00||0.00|0.00||0.00|
||46.00|||0.00|||6.00|||50.00||
|II. Associatesd||||||||||||
|Yangshan||||||||||||
|Jiangkeng|5,991,055|||431,648.0||||||6,422,703||
|||0.00|0.00||0.00|0.00|0.00|0.00|0.00||0.00|
|Hydropo|.00|||0||||||.00||
|wer||||||||||||
|Yangshan||||||||||||
||8,180,783|||1,358,823||||||9,539,606||
|Zhongxin||0.00|0.00||0.00|0.00|0.00|0.00|0.00||0.00|
||.00|||.00||||||.00||
|keng||||||||||||
|Yudean||||||||||||
|West|264,811,2|||-16,941,8|933,549.0|||||248,802,9||
|||0.00|0.00|||0.00|0.00|0.00|0.00||0.00|
|Investme|91.00|||62.00|0|||||78.00||
|nt||||||||||||
|Guangdo||||||||||||
|ng|940,425,7|||-8,138,36||648,239.0|4,556,452|||928,416,4||
|||0.00|0.00||37,289.00|||0.00|0.00||0.00|
|Yudean|74.00|||2.00||0|.00|||88.00||
|Shipping||||||||||||
|Weixin||||||||||||
|Yuntou|357,675,7|||-39,024,0||||||318,651,6||
|||0.00|0.00||0.00|0.00|0.00|0.00|0.00||0.00|
|Yudean|40.00|||54.00||||||86.00||
|Zhaxi||||||||||||
|Shanxi||||||||||||
||913,606,6|||8,754,520||||||922,361,1||
|Yudean||0.00|0.00||0.00|0.00|0.00|0.00|0.00||0.00|
||50.00|||.00||||||70.00||
|Energy||||||||||||
|Guangdo||||||||||||
|ng|670,229,3|||43,593,65|||59,406,85|||654,416,1||
|||0.00|0.00||0.00|0.00||0.00|0.00||0.00|
|Yudean|69.00|||5.00|||6.00|||68.00||
|Finance||||||||||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|Guangdo||||||||||||
|ng||||||||||||
|Guohua||||||||||||
||2,104,305|||99,775,39||||||2,204,080||
|Taishan||0.00|0.00||0.00|0.00|0.00|0.00|0.00||0.00|
||,209.00|||0.00||||||,599.00||
|Power||||||||||||
|Generatio||||||||||||
|n||||||||||||
||5,265,225|||89,809,75|970,838.0|648,239.0|63,963,30|||5,292,691||
|Subtotal||0.00|0.00|||||0.00|0.00||0.00|
||,871.00|||8.00|0|0|8.00|||,398.00||
||5,866,863,217.00|||123,853,0|970,838.0|648,239.0|143,952,6|||5,848,382,748.00|0.00|
|Total||0.00|0.00|||||0.00|0.00|||
|||||98.00|0|0|44.00|||||

（3）Other
4. Business income, Business cost
In RMB
||||||
|-|-|-|-|-|
||Amount of current period||Amount of previous period||
|Items|||||
||Income|Cost|Income|Cost|
|Main business|816,878,604.00|625,126,958.00|1,082,635,623.00|761,750,894.00|
|Other business|8,795,506.00|5,241,096.00|15,030,991.00|7,210,918.00|
|Total|825,674,110.00|630,368,054.00|1,097,666,614.00|768,961,812.00|

 Othernotes：
5. Investment income
（1）Income from investment
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Income from long-term cost investment|1,717,042,667.00|1,608,008,961.00|
|Income from long-term equity investment|123,853,097.00|313,331,726.00|
|Investment gain on disposal of long-term|||
|||124,283,835.00|
|equity invest|||
|Hold the investment income during from|||
||2,520,000.00|2,400,000.00|
|available-for-sale financial assets|||
|Entrust Loan interest income|11,146,250.00|24,636,833.00|
|Other|-1,416,699.00|-1,512,486.00|
|Total|1,853,145,315.00|2,071,148,869.00|

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 6.Other
XVII. 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|||
||-40,159.00||
|non-current asset|||
|Governmental subsidy calculated into|||
|current gains and loess（while closely related|||
|with the normal business of the Company,|||
||4,330,234.00||
|excluding the fixed-amount or|||
|fixed-proportion governmental subsidy|||
|according to the unified national standard）|||
|Other non-business income and expenditures|||
||-12,414,760.00||
|other than the above|||
|Less：Influence amount of income tax|932,677.00||
|Influenced amount of minor shareholders’|||
||-3,930,180.00||
|equity|||
|Total|-5,127,182.00|--|

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||0.14|0.14|
|Common stock shareholders of|3.09%|||
|Company.||||
|Net profit attributable to the||||
|Common stock shareholders of||||
||3.11%|0.14|0.14|
|Company after deducting of||||
|non-recurring gain/loss.||||

Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 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|738,374,784.00|1,720,995,015.00|23,178,127,713.00|23,754,596,981.00|
|Items and amount adjusted according to IAS|||||
|The difference arising|||||
|from recognition of|||||
|goodwill after merger of|||64,623,000.00|64,623,000.00|
|enterprises under the same|||||
|control|||||
|Difference arising|||||
|fromrecognition of land|||||
||||19,175,000.00|19,490,000.00|
|use value after enterprise|||||
|merger|||||
|Influence on minority|||||
||27,060.00|54,120.00|4,674,919.00|4,647,859.00|
|interests|||||
|According to IAS|738,086,844.00|1,720,734,135.00|23,266,600,632.00|23,843,357,840.00|

 (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.
(1)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.
(2) Influence on minority interests
Housing reform loss occurred to the Company and some holding subsidiaries. Therefore,there’s some influence
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 on minority interests.
4.Other
Guangdong Electric Power Development Co., Ltd. The Semi-annual Report 2016 X.Documents for reference
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: Li Zhuoxian
August 26, 2016