Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017 Stock code: 000539,200539 Stock Abbreviation:Yue Dian Li A, Yue Dian Li B
Announcement No.: 2017-29
Guangdong Electric power Development Co., Ltd.
Summary of the Semi-Annual Report 2017
The summary is abstract from full-text of summary of the semi-annual report, for more details information , investors should found in the full-text of summary of the semi-annual report that published on website of
Shenzhen Stock Exchange and other website appointed by CSRC.
Statement
Directors other than the following ones have attended the Board meeting to review the interim report.
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|-|-|-|-|
|Name of absent director|Position of absent director|Reason|Name of proxy|
|Li Yanxu|Director|Due to busniess|Gao Shiqiang|
|Xu Ping|Director|Due to busniess|Yang Xinli|
|Zhang Xueqiu|Director|Due to busniess|Liu Tao|

Non-standardauditor’s opinion
□ Applicable√Not applicable
Preliminary plan for profit distribution to the common shareholders or turning the capital reserve into the share capital for the reporting period, which has been reviewed and approved at the board meeting
□ Applicable√Not applicable
The company will distribute no cash dividends or bonus shares and has no reserve capitalization plan.
The preference share profit distribution pre-plan approved by the Board of Directors
□ Applicable√Not applicable
II. Basic information about the company
1. Company profile
||||||
|-|-|-|-|-|
||Yue Dian Li A, Yue Dian Li B|||000539、200539|
|Stock abbreviation||Stock code|||
|Stock exchange for listing|Shenzhen Stock Exchange||||
|Contact person and contact manner|Board secretary||Securities affairs Representative||
|Name|Liu Wei||Qin Xiao||
||36/F, South Tower, Yudean Plaza, No.2Tianhe Road East, Guangzhou,GuangdongProvince||36/F, South Tower, Yudean Plaza, No.2Tianhe Road East, Guangzhou,GuangdongProvince||
|Address|||||
|Tel|(020)87570276||(020)87570251||
|E-mail|liuw@ged.com.cn||qinxiao@ged.com.cn||

2. Major accounting data and financial indicators
Does the company adjust retrospectively or restate accounting data of previous years due to change of the accounting policy or correction of any accounting error?
□Yes√ No
|||||
|-|-|-|-|
||Reporting period|Same period of last year|YoY+/-（%）|
|Operating income（RMB）|12,385,486,577.00|10,234,989,566.00|21.01%|
|Net profit attributable to the shareholders|128,735,725.00|738,374,784.00|-82.56%|

Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017
|||||
|-|-|-|-|
|of the listed company（RMB）||||
|Net profit after deducting of non-recurring||||
|gain/loss attributable to the shareholders of|156,802,731.00|743,501,966.00|-78.91%|
|listed company（RMB）||||
|Cash flow generated by business operation,|1,578,925,284.00|4,696,500,182.00||
||||-66.38%|
|net（RMB）||||
|Basic earning per share(RMB/Share)|0.0245|0.14|-82.50%|
|Diluted gains per|0.0245|0.14||
||||-82.50%|
|share(RMB/Share)(RMB/Share)||||
|Weighted average ROE(%)|0.55%|3.09%|-2.54%|
||As at the end of the|||
|||As at the end of last year|YoY+/-（%）|
||reporting period|||
|Gross assets (RMB)|70,230,573,061.00|70,677,003,760.00|-0.63%|
|Net assets attributable to shareholders of|23,104,526,322.00|23,378,847,225.00||
||||-1.17%|
|the listed company （RMB）||||

3.Shareholders and shareholding
In Shares
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||||Number of shareholders of||||||
|Total Number of common||||||||||
|||||preferred stocks of which||||||
|shareholders at the end of the|109,198||||||0|||
|||||voting rights recovered in the||||||
|reporting period||||||||||
|||||report period(If any)||||||
|Shareholdings of Top 10 shareholders||||||||||
|||||||Amount of||Number or share||
|Shareholders||Nature of|Proportion||Number of|||pledged/frozen||
|||||||restricted shares||||
|||shareholder|of shares||shares held at|||State of||
||||held（%）||period -end||||Amount|
|||||||held||||
|||||||||share||
|Guangdong Yudean Group Co., Ltd.||State-ownedlegal person|67.39%||3,538,005,285|1,893,342,621||||
|China Securities Finance Co., Ltd.||State-ownedlegal person|2.78%||145,748,980|||||
|Guangdong Guangfa Electric PowerInvestment Co., Ltd.||State-ownedlegal person|2.22%||116,693,602|||||
|Guangdong Electric PowerDevelopment Corporation||State-ownedlegal person|1.80%||94,367,341|||||
|Harbin Hali Industry Co., Ltd.||DomesticNon-State ownedlegal person|0.79%||41,387,870|||||
|Li Zhuo||DomesticNatural person|0.42%||21,951,385|||||
|National Social Security Fund 103portfolio||State-ownedlegal person|0.38%||19,994,982|||||
|BBH A/C VANGUARD EMERGINGMARKETS STOCK INDEX FUND||Overseas Legalperson|0.33%||17,484,844|||||
|CHINA INT'L CAPITAL CORPHONG KONG SECURITIES LTD||Overseas Legalperson|0.29%||15,322,336|||||
|Harbin Daoli District CharityFoundation||DomesticNon-State ownedlegal person|0.25%||12,921,300|||||
|Explanation on associated relationship or concerted action|||The fourth largest shareholder Guangdong Electric Power Development|||||||
||||Corporation is the wholly-owned subsidiaries of the largest shareholder|||||||
|of the above shareholders||||||||||
||||Yudean Group. These two companies have relationships; whether the|||||||

Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017
|||
|-|-|
||other shareholders have relationships or unanimous acting was|
||unknown.|
||The Fifth largest shareholder Harbin Hali Industry Co., Ltd.|
||holds 35,467,266 A shares of the Company through stock account with|
||credit transaction and guarantee and holds 5,920,604 A shares through|
||ordinary stock account, hold41,387,870 shares of the Company's stock|
||totally.|
||The sixth largest shareholder Li Zhuo. holds 21,911,765 A shares of the|
|Note to the top 10 common stockholders involved in|Company through stock account with credit transaction and guarantee|
|margin financing & securities lending (If any)|and holds 39,620 A shares through ordinary stock account,|
||hold21,951,385 shares of the Company's stock totally.|
||The Tenth largest shareholder Harbin Daoli District Charity Foundation.|
||holds 12,783,900 A shares of the Company through stock account with|
||credit transaction and guarantee and holds 137,400 A shares through|
||ordinary stock account, hold12,921,300 shares of the Company's stock|
||totally.|

4.Changing of controlling shareholder and practical controller of the Company.
Change of holding shareholder
□ Applicable√ Not applicable
No change of holding shareholder in the report period.
Change of substantial controller
□ Applicable√ Not applicable
No change of substantial controller in the report period.
5.Number of preference shareholders and shareholdings of top 10 of them
□ Applicable√ Not applicable
No preference shareholders in the reporting period
6.Corporate bonds
Are there any corporate bonds publicly offered and listed on the stock exchange, which were undue before the approval date of this report or were due but could not be redeemed in full?
Yes
1.Basic information of corporate bonds
|||||||
|-|-|-|-|-|-|
|Bond name|Bond short name|Bond code|Due day|Bond balance ‘0000|Interest rate|
|2012 Corporate bonds of||||||
|Guangdong Electric||||||
||12 Yudean Bond|112162.SZ|March 17,2020|120,000|4.95%|
|Power Development||||||
|Co., Ltd..||||||

8. As at the end of the reporting period , the company's major financial indicators
InRMB’0000
|||||
|-|-|-|-|
||As at the end of the reporting|||
|Items||As at the end of last year|YoY+/-（%）|
||period|||
|Debt ratio|58.84%|58.49%|0.35%|
|Items|Reporting period|Same period of last year|YoY+/-（%）|

Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017
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|-|-|-|-|
|EBITDA interest coverage ratio|1.7|4.87|-65.09%|

 III. Performance discussion& analysis
1．Performance Review for Reporting period
Is the company subject to any disclosure requirements for special industries?
No
In the report period, the total electricity consumption of the society in Guangdong is 268.16 billion KWH and increases by4.6% on year-on-year basis with slightly higher increase rate. As West electricity quantity supply increases by 8.97 billion KWH compared with that in the plan, the provincial nuclear power quantity and pneumoelectric quantity increase by12.47% and3.51% on year-on-year basis respectively, the provincial hydroelectric power quantity decreases by36.27% on year-on-year basis, and the average utilization time for the company controlled coal-fired units is 1959 hours and increases by 403 hours on year-on-year basis.
In the report period, the company net profits attributable to the listed company shareholders decrease sharply on year-on-year basis due to the influence of the rising coal price and electricity market trade “discount”. Until June 2017, the total standard assets in the company consolidated statement is 70.231 billion yuan and decreases by0.63% compared with that in the beginning of the year; the interests attributable to the listed company shareholders is 23.105 billion yuan and decreases by1.17% compared with that in the beginning of the year. The standard business revenue realized in the company consolidated statement is 12.385 billion yuan and increases by21.01% on year-on-year basis; the net profits attributable to the listed company shareholders is 129 million yuan and decreases by82.56% on year-on-year basis; the revenue per share is 0.0245 yuan (that for the same period of the previous year is 0.1406 yuan). The total standard debt in the company consolidated statement is 41.323 billion yuan with the asset-liability ratio of58.84%.
In the report period, the company faces directly the adverse environment of the excess power capacity, “market electricity” scale expansion and rising coal price, etc. and strives to change in the economic development new normality positively. It strives to battle for the electricity quantity centering on each core index and key work determined at the beginning of the year. The standard on-grid electricity quantity in the company consolidated statement increases by26.6% on year-on-year; it builds the early warning mechanism on the completion conditions of key indexes and implements the same per level, strives to increase benefits by all means and endeavors to realize profits in the first half year under the premise of losses occurrence in the first quarter, among which, the net profits of the wind power business realizes increase constantly and increases by148.87% on year-on-year basis. The electricity sale subsidiaries of the company always keep the market competition advantages, the long-term agreed and monthly concentrated bidding electricity quantity for previous years accounts for12.6% of the same type trade market scale under the case where the first-half-year long-term agreed electricity quantity realizes 11.107 billion kWh and the electricity quantity participating in the monthly concentrated bidding is 1.074 billion kWh and the company continues to maintain the leading role in the market. The company carries forward the supply-side structure reform firmly, continues developing the clean energy plate subject to the 13th Five-year Development Planning Report approved by the Board of Directors through deliberation. And additional 2 controllable wind power projects totaling 80,000 KW are approved during the report period and 2 controllable wind power projects totaling 100,000 kW are included into the local wind power development and construction spare scheme in 2017. At the same time, the company implements carefully the national requirements on the coal-fired units ultra-low emission and energy transformation and completes the ultra-low emission transformation work of 8 fired-coal units totaling 4.27 million KW in the first half year. 2.Maters related to financial report
(1) Reason for changes in accounting policies, accounting estimates and accounting methods as compared to the
financial report for the prior year
Guangdong Electric Power Development Co., Ltd. Summary of the Semi-Annual Report 2017√Applicable□ Not applicable
In the first half year of 2017, the Company, based on the property and usage conditions of the current fixed assets, summarizes the predicted service life and net residual value of various fixed assets, and adjusts the depreciation life and the residual value ratio of partial fixed assets, which come into force since June 1. Therefore, under such influence, the depreciation of the fixed assets of the Company in the first half year decreases by about 56 million yuan and the net profit attributable to the parent company increases by about 33.23 million yuan; through predication, the depreciation of the fixed assets in 2017 decreases by about 391 million yuan and the net profit attributable to the parent company increases by about 223 million yuan.
(2) Reason for retrospective restatement to correct major accounting errors during the reporting period
□ Applicable√ Not applicable
No such cases in the reporting period.
(3) Reason for changes in scope of the consolidated financial statements as compared to the financial report for the prior year
□ Applicable√ Not applicable
No such cases in the reporting period.
The Board of Directors of Guangdong Electric Power Development Co., Ltd. Chairman of the board: Huang Zhenhai
August 31,2017