GUANGDONG ELECTRIC POWER DEVELOPMENT CO., LTD. The Semi-annual Report 2014
August 2014
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. Board chairman Pan Li , Vice Board chairman Li Zhuoxian, Director Zhong Weimin, Director Gao Shiqiang, Director Kong Huitian, Director Li Mingliang, Director Zhu Dejun, Director Yang Xinli, Director General Manager Yao Jiheng, Director Hu Xiaolei, Independent Director Liu Tao, Independent Director Zhang Hua, Independent Director Sha Qilin, Independent Director Mao Fugen, Independent Director Ding Yougang and Independent Director Lu Jun attended this meeting. Director Hong Rongkun authorized Director Gao Shiqiang, Director Zhang Xueqiu authorized Independent Director Liu Tao attend the meeting and exercise voting right on their behalf.
The Company Will not distribute cash dividend or bonus shares, neither capitalizing of common reserves for the report period.
Mr.Pan Li, The Company leader, Mr. Li Xiaoqing, Chief financial officer and the Mr.Qin Jingdong, 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 English translation is for reference only. Should there be any inconsistency between the Chinese and English versions, the Chinese version shall prevail.
Table of Contents
2014 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
Definition
||||
|-|-|-|
|Terms to be defined|Refers to|Definition|
|Yudean Group|Refers to|Guangdong Yudean Group Co., Ltd.|
|Zhanjiang Company|Refers to|Zhanjiang Electric Power Co., Ltd.|
|Yuejia Company|Refers to|Guangdong Yuejia Electric Power Co., Ltd.|
|Yuejiang Company|Refers to|Guangdong Shaoguan Yuejiang Power Generation Co., Ltd.|
|Zhenneng Company|Refers to|Maoming Zhenneng Thermal Power Co., Ltd.|
|Jinghai Company|Refers to|Guangdong Yudean Jinghai Power Co., Ltd.|
|Zhanjiang Zhanjiang Wind Power Company|Refers to|Guangdong Yudean Zhanjiang Wind Power Co., Ltd.|
|Zhongyue Compamy|Refers to|Zhanjiang Zhongyue Energy Co., Ltd.|
|Bohe Company|Refers to|Guangdong Yudean Bohe Coal & Electricity Co., Ltd|
|Guangqian Company|Refers to|Shenzhen Guangqian Electric Power Co., Ltd.|
|Huihou Natural Gas Company|Refers to|Guangdong Huizhou Natural Gas Power Co., Ltd.|
|Shibeishan Wind Power Company|Refers to|Guangdong Shibeishan Wind Power Development Co., ltd.|
|Red Bay Company|Refers to|Guangdong Red Bay Power Co., Ltd.|
|Pinghai Power Plant|Refers to|Guangdong Hluizhou Pinghai Power Co., Ltd.|
|Humen Power Company|Refers to|Guangdong Yudean Humen Power Co., Ltd.|
|Anxin Electric Inspection & Installation|||
||Refers to|Guangdong Yudean Anxin Electric Inspection & Installation Co., Ltd|
|Company|||
|Guohua Taishan|Refers to|Guangdong Guohua Yudean Taishan Power Generation Co., Ltd.|
|Yudean Industry Fuel Company|Refers to|Guangdong Power Industry Fuel Co., Ltd.|
|Huadu Natural Gas Company|Refers to|Guangdong Huadu Natural GasT Thermal Power Co., Ltd.|
|Dapu Company|Refers to|Guangdong Dapu Power Generation Co., Ltd.|
|Wind Power Company|Refers to|Guangdong Wind Power Co., Ltd.|

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||||
||粤电力|||
|Name in Chinese(If any)||||
|English name (If any)|GUANGDONG ELECTRIC POWER DEVELOPMENT CO.,LTD|||
|English abbreviation (If any)|GED|||
|Legal Representative|Pan Li|||

2. Contact person and contact manner
||||
|-|-|-|
||Board secretary|Securities affairs Representative|
|Name|Liu Wei|Zhang Shaomin|
||26/F, South Tower, Yudean Plaza,|26/F, South Tower, Yudean Plaza,|
|Contact address|No.2 Tianhe Road East,|No.2 Tianhe Road East,|
||Guangzhou,Guangdong Province|Guangzhou,Guangdong 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 2013.
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 2013.
3.Registration changes of the Company
Whether registration has changed in reporting period or not
□ Applicable√ Not applicable
Date/place for registration of the Company, registration nmber for enterprise legal license number of taxation registration and organization code have no change in reporting period, found more details in annual report 2013.
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）|14,971,313,646.00|14,547,027,472.00|2.92%|
|Net profit attributable to the|1,644,460,546.00|1,357,484,280.00||
|shareholders of the listed company|||21.14%|
|（RMB）||||
|Net profit after deducting of||||
|non-recurring gain/loss attributable||||
||1,649,146,988.00|1,346,200,677.00|22.50%|
|to the shareholders of listed company||||
|（RMB）||||
|Cash flow generated by business|4,534,129,911.00|5,323,290,861.00||
||||-14.82%|
|operation, net（RMB）||||
|Basic earning per share(RMB/Share)|0.38|0.31|22.58%|
|Diluted gains per|0.38|0.31||
||||22.58%|
|share(RMB/Share)(RMB/Share)||||
|Weighted average ROE(%)|8.27%|8.02%|0.25%|
||As at the end of the|As at the end of last||
||||YoY+/-（%）|
||reporting period|year||
|Gross assets（RMB）|67,629,110,307.00|67,918,719,035.00|-0.43%|
|Shareholders’ equity attributable to|19,815,503,952.00|19,054,914,050.00||
|shareholders of the listed company|||3.99%|
|（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
No difference .
2. Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese accounting standards.
√ Applicable□ Not applicable
In RMB
||||||
|-|-|-|-|-|
||Net profit attributable to the||Net Assets attributable to the||
||shareholders of the listed company||shareholders of the listed company||
||Amount in the|Amount in the|End of the|Beginning of the|
||reporting period|previous period|reporting period|reporting period|
|According to CAS|1,644,460,546.00|1,357,484,280.00|19,815,503,952.00|19,054,914,050.00|
|Items and amount adjusted according to IAS|||||
|Land use right amortization|0.00|-3,736,000.00|0.00|0.00|
|The difference arising from|||||
|recognition of goodwill after|||||
||0.00|0.00|64,623,000.00|64,623,000.00|
|merger of enterprises under the|||||
|same control|||||
|Difference arising from recognition|||||
|of land use value after enterprise|-315,000.00|-315,000.00|20,435,000.00|20,750,000.00|
|merger|||||
|Influence on minority interests|27,060.00|348,000.00|4,566,679.00|4,539,619.00|
|Accouding to IAS|1,644,172,606.00|1,353,781,280.00|19,905,128,631.00|19,141,826,669.00|

 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.
（III）Items and amount of deducted non-current gains and losses
√ Applicable□ Not applicable
In RMB
||||
|-|-|-|
|Items|Amount|Notes|
|Non-current asset disposal gain/loss(including the write-off part|-19,343,827.00|Mainly due to the loss on|

||||
|-|-|-|
|for which assets impairment provision is made)||retirement of assets of RedBay's transformationdemolition crew denitration|
|Govemment subsidy recognized in currentgain and|9,328,462.00||
|loss(excluding those closely related to the Company’s business|||
|and granted under the state’s policies)|||
|Gain/loss investment of Commission|607,511.00||
|Net amount of non-operating income and expense except the aforesaid|-3,975,261.00||
|items|||
|||Recovery of written-off rece|
|Provision for aasets impairment|2,062,288.00||
|||ivables etc.|
|Less：Influenced amount of income tax|-3,370,207.00||
|Influenced amount of minor shareholders’ equity（After tax ）|-3,264,178.00||
|Total|-4,686,442.00|--|

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
||||
|-|-|-|
|Items|Amount (RMB)|Reason|
|VAT levy retreat revenue|4,666,419.00|Closely related to the company daily business|

IV. Report of the Board of Directors
I. General
During the reporting period, the contradiction between supply and demand in Guangdong Province became intens e, the market situation is still grim.The electricity consumption of the Province is 238.43 billion kwh, which increased by7.23% year on year. The quantity of power purchased from west regions is 57.01 billion kwh, which increased by14.83% year on year. Sending electrical power to the western area squeeze the generation set market share.
During the reporting period, Benefit from the new units put into operation, the cumulative generating capacity of the company achieve growth.In first half 2014 , Its on-grid electricity volume was 35.48 billion kwh, which increased by4.52% year on year. Its on-grid electricity volume was 33.42 billion kwh, which increased by4.7% year on year.50.55% of the power generation plan for the year was fulfilled.
During the reporting period,Affected by the price drop, the operating income growth fails to increase in accordance with the growth in electricity demand. Its operating income was RMB 14.97 billion, which increased by2.92% year on year. Since the coal prices continued to fall, the costs get better control, thuscompany’s profitability increased the Company's operating profit and the net profit for its shareholders were respectively RMB 2.96 billion and RMB 1.644 billion, which respectively increased by22.46%and21.14% year on year. During the period of report, the company has continued to enhance the management of theproject’s construction and to promote the preliminary work for the new project orderly. Maoming Bohe Dock Project, Huizhou LNG Power Plant Phase Two Cogeneration Project, Huadu natural gas thermoelectric Project, Dianbai Hot Wind Power Project, and Shaoguan& Meixian “New Big Power Units While Closing Small Ones ” Project, all these projects are under construction according to the plan; meanwhile, Unit 5 and Unit 6 of Phase II of Huilai Power Plant, Unit 3 and Unit 4 of Phase I of Pinghai Power Plant and Unit 5 and Unit 6 of Phase II of Shanwei Power Plant, etc., all theseprojects’ preliminary work are being carried out actively.
II. Analsis on principal Business
Y-o-Y changes of main financial data
In RMB
||||||
|-|-|-|-|-|
||||Y-o-y||
|||Same period of last|||
||Current period||increase/dec|Reasons for changes|
|||year|||
||||rease（%）||
|Operration revenue|14,971,313,646.00|14,547,027,472.00|2.92%||
|Operation cost|10,982,443,113.00|11,025,868,327.00|-0.39%||
|Sales expenses|1,471,882.00|1,753,357.00|-16.05%||
|Administrative expenses|396,554,512.00|401,370,835.00|-1.20%||
|Financial cost|887,886,490.00|983,330,573.00|-9.71%||
||637,267,131.00|493,910,564.00||The increase of earnings|
|Income tax expense|||29.02%|caused the increase of income|
|||||tax expenses.|

||||||
|-|-|-|-|-|
|Net cash flow arising from|4,534,129,911.00|5,323,290,861.00|||
||||-14.82%||
|operation activities|||||
||-1,609,841,662.00|-351,913,463.00||The amount to invest fixedincreased over the same period,received major asset restructuringsupplement money fromGuangdong Power Group at thesame period in 2012.|
|Net cash flow arising from|||||
||||392.96%||
|investment activities|||||
|Net cash flow arising from|-2,157,481,098.00|-2,183,559,164.00|||
||||10.69%||
|financing activities|||||
|Net increase of cash andcash|766,807,151.00|2,787,818,234.00||Investment activities expenditureincreased|
||||-72.49%||
|equivalent|||||

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 35.48 billion kwh in terms of consolidated statements, which Increased by4.52% year on year. The actual on-grid electricity volume was 33.422 billion kwh, which increased by4.7% year on year and accounted for50.55% of the planned on-grid electricity volume for the year. finish the planned more than50% volume of on-grid electricityof in the half year.
(2) In the report period, the Company actually completed external investment of Equity and debt of RMB 662.69 million, which accounts for35.51% of the planned amount of external investment for the year. The investment completion ratio was low mainly because governmental department approval was not obtained for some projects for which initial-work was carried out and no large-scale investment was made.
III. Constitution of main business
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||Increase|Increase|Increase|
||Operating||Gross Profit|/decrease of|/decrease of|/decrease of|
|||Operating cost|||||
||Income||Ratio(%)|operating|operating cost|Gross profit|
|||||income（％）|（％）|ratio（％）|
|In terms of business line|||||||
|Electric Power|14,971,313,646.00|10,982,443,113.00|26.64%|2.92%|-0.39%|2.44%|
|In terms of product|||||||

||||||||
|-|-|-|-|-|-|-|
|Electric Power|14,971,313,646.00|10,982,443,113.00|26.64%|2.92%|-0.39%|2.44%|
|Area|||||||
|Guangdong|14,971,313,646.00|10,982,443,113.00|26.64%|2.92%|-0.39%|2.44%|

 IV. Core competitive-ness analsis
The company's core competitiveness in the reporting period has no significant changes, specific details can be found in the 2013 annual report.
V. Analysis on investment status
1. External Equity investment
（1）External investment
√ Applicable□ Not applicable
||||||
|-|-|-|-|-|
|External investment|||||
|Investment amount in 2013（RMB）||Investment Amount in 2012（RMB）|Change rate（%）||
|262,690,000.00||530,000,000.00|-50.44%||
|Particulars of investees|||||
|||||Proportion in the|
|Companies|Principal business|||investees’ equity|
|||||（%）|
|Guangdong Shaoguan Yuejiang Power|Investment and Operation of electric power projects , Production and||||
|||||90.00%|
|Generation Co., Ltd.|sales of electricity||||
||Power plant construction, production and operation, production and||||
|Guangdong Yudean Dapu Power|||||
||sales of electric power and auxiliary products, project contracting,|||100.00%|
|Generation Co., Ltd|||||
||technical consultation and technical services in power sector.||||
||The company was engaged in wind, solar, biomass and other new||||
||energy design, development, investment, construction and operation||||
|Guangdong Wind Power Generation|||||
||management; new energy technology research and development,|||100.00%|
|Co., Ltd|||||
||application and promotion, equipment testing and maintenance,||||
||technical training and consulting services.||||
|Guangdong Yuejiang Hongrui|||||
||Operation of electrical equipment, maintenance, technological||||
|Electronic Power Technology||||90.00%|
||innovation and service of electrical equipment||||
|Development Co., Ltd.|||||
|Lincang Yuntou Yudean|Investment ,Development ,Construction and operation of electric||||
|||||49.00%|
|Hydroelectricity Development Co., Ltd.|power projects||||

（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|||||||||||
||||||||||Long-term||
|Insurance|Insurance|356,000,00|350,000,00||350,000,00||356,000,00||||
|||||5.34%||5.34%||0.00|Equity|Initiated|
|Group Co.,|Company|0.00|0||0||0.00||||
||||||||||investment||
|Ltd.|||||||||||
|Guangdon|||||||||||
||||||||||Long-term||
|g Yudean||500,000,00|500,000,00||500,000,00||500,000,00|47,510,000|||
||Other|||25.00%||25.00%|||Equity|Initiated|
|Finance||0.00|0||0||0.00|.00|||
||||||||||investment||
|Co., Ltd.|||||||||||
|||856,000,00|850,000,00||850,000,00||856,000,00|47,510,000|||
|Total||||--||--|||--|--|
|||0.00|0||0||0.00|.00|||

Notes:
1.This form requires filling in the equity information such as long-term equity investment, available for sale financial assets in corporate equity accounting;
2. financial companies include commercial banks, securities companies, insurance companies, trust companies, futures companies etc;
3.the book value at the end of period should deduct the depreciation of impairment;
4.reported profits and losses means: consolidated net profit in the reporting period of the company affected by the investment.
（3）Holding of the equity in other Listing Company
√ Applicable□ Not applicable
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||||Number ofshares heldat thebeginning ofthe reportingperiod(shares)|Sharehol||Sharehol||tGain/.loss ofthe reportingperiod (RMB)|||
|||||ding|Number of|ding|||||
|||||proporti|shares held|proporti|Book balance a|||Sauce|
|Comp|Comp|Initial|||||||||
|||||on at the|at the end of|on at the|the end of the||Accountin|of the|
|any|any|Investment cost|||||||||
|||||beginnin|the reporting|end of|reporting period||g items|share|
|Name|type|(RMB)|||||||||
|||||g of the|period(share|the|(RMB)|||s|
|||||reportin|s)|reportin|||||
|||||g period||g|||||

||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||(%)||period(|||||
|||||||%)|||||
||||||||||Financialassets available forsale||
|Shen|||||||||||
|||||||||||Initiat|
|Ener|Other|15,890,628.00|8,400,000|0.32%|8,400,000|0.32%|47,208,000.00|2,100,000.00|||
|||||||||||ed|
|gy|||||||||||
||||||||||Financialassetsavailable forsale||
|SHEN||||||||||Trans|
||Other|235,837,987.50|55,532,250|1.22%|55,532,250|1.22%|239,899,320.00|0.00|||
|ERGY||||||||||feree|
|Total||251,728,615.50|63,932,250|--|63,932,250|--|287,107,320.00|2,100,000.00|--|--|

 2.Information of trust management, derivative investment and entrusted loan
（1）Trust management
□Applicable√ Not applicable
There was no trust management of the Company in the reorting period.
（2）Derivative investment
□Applicable√ Not applicable
There was no derivative investment of the Company in the reporting period.
（3）Entrusted loan
√ Applicable□ Not applicable
In RMB
|||||||
|-|-|-|-|-|-|
||Is it a|||Guarantor orcollateral|Application of the|
||||Interest|||
|Prospective borrower|related|Amount|||loan by the|
||||rate|||
||party||||borrower|
|GuangdongYudean Jinghai Power Generation||||None|Supplement|
||No|25,000|5.83%|||
|Co., Ltd.|||||current capital|
|Guangdong Shaoguan Yuejiang Power Generate Co.,||||None|Supplement|
||No|10,000|6.30%|||
|Ltd.|||||Current capital|
|Guangdong Shaoguan Yuejiang Power Generation Co.,||||None|Supplement|
||No|10,000|6.16%|||
|Ltd.|||||current capital|
|||||None|Supplement|
|GuangdongYudean Dapu Power Generation Co., Ltd|No|10,000|6.00%|||
||||||current capital|

|||||||
|-|-|-|-|-|-|
||||||Supplement|
|GuangdongYudean Bohe Coal & Electricity Co., Ltd.|No|10,000|6.77%|None||
||||||Current capital|
|Total|--|65,000|--|--|--|
|Disclosure date for the notice of approval by the|August 29, 2013（Jinghai entrusted loans）|||||
|Board(if any)|March 4, 2014（Yuejiang ,Dapu Bohe Entrusted loans）|||||
|Disclosure date for the notice of approval by||||||
|Shareholders’ General Meeting (If any)||||||

3.Analysis on principal subsidiaries and Mutual Shareholding Companies
√Applicable□Not applicable
Particulars about the principal subsidiaries and Mutual shareholding companies
In RMB
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||Leading|||||||
||Com|Sectors||||||||
||||products||Total|Net assets|Tumover|Operating|Net Profit|
|Company Name|pany|engaged||Registered capital||||||
||||and||assets(RMB)|(RMB)|(RMB)|profit (RMB)|(RMB)|
||type|in||||||||
||||services|||||||
||||Power|||||||
|GuangdongYude||||||||||
||||generation|||||||
|an Jinghai|Subs|||||||||
|||Electric|and power||12,892,662,7|||||
|Power|idiar|||2,919,272,000||3,658,499,885|3,106,659,914|710,084,380|533,267,569|
|||Power|station||01|||||
|Generation|y|||||||||
||||constructio|||||||
|Co., Ltd.||||||||||
||||n.|||||||
||||Power|||||||
|GuangdongHuiz||||||||||
||||generation|||||||
|hou Pinghai|Subs|||||||||
|||Electric|and power||7,569,319,71|||||
|Power|idiar|||1,370,000,000||2,042,033,793|1,949,907,728|584,991,015|443,072,656|
|||Power|station||7|||||
|Generation|y|||||||||
||||constructio|||||||
|Co., Ltd.||||||||||
||||n.|||||||
||||Power|||||||
|Guangdong Red|||generation|||||||
||Subs|||||||||
|Bay Power||Electric|and power||10,128,853,3|||||
||idiar|||2,749,750,000||3,255,714,821|2,424,677,847|435,240,240|326,413,200|
|Generation Co.,||Power|station||54|||||
||y|||||||||
|Ltd.|||constructio|||||||
||||n.|||||||
||||Power|||||||
||||generation|||||||
|Zhangjiang|Subs|||||||||
|||Electric|and power||4,525,597,39|||||
|Electric Power|idiar|||2,875,440,000||4,045,391,522|1,265,414,620|298,394,096|224,598,177|
|||Power|station||7|||||
|Co., Ltd.|y|||||||||
||||constructio|||||||
||||n.|||||||

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Guangdong|||Power|||||||
|Huizhou|||generation|||||||
||Subs|||||||||
|natural Gas||Electric|and power||2,565,245,08|||||
||idiar|||963,000,000||1,270,421,051|804,306,094|169,620,132|127,215,099|
|Power||Power|station||2|||||
||y|||||||||
|Generation|||constructio|||||||
|Co., Ltd.|||n.|||||||
||||Power|||||||
|Shenzhen|||generation|||||||
||Subs|||||||||
|Guangqian||Electric|and power||2,356,846,21|||||
||idiar|||1,030,292,500||1,307,240,770|769,353,624|119,528,767|89,522,102|
|Electric Power||Power|station||6|||||
||y|||||||||
|Co., Ltd.|||constructio|||||||
||||n.|||||||
||||Power|||||||
|Zhanjiang|||generation|||||||
||Subs|||||||||
|Zhongyue||Electric|and power||5,341,165,61|||||
||idiar|||1,454,300,000||1,544,117,077|1,251,675,613|117,632,362|88,224,271|
|Energy Co.,||Power|station||6|||||
||y|||||||||
|Ltd.|||constructio|||||||
||||n.|||||||
||||Power|||||||
|Maoming|||generation|||||||
||Subs|||||||||
|Zhenneng||Electric|and power||3,775,790,20|||||
||idiar|||1,019,535,500||1,087,837,413|960,707,645|57,668,598|42,466,860|
|Thermal Power||Power|station||8|||||
||y|||||||||
|Co., Ltd|||constructio|||||||
||||n.|||||||
||||Power|||||||
|Guangdong||||||||||
||||generation|||||||
|Shaoguan|Subs|||||||||
|||Electric|and power||4,242,413,84|||||
|Yuejiang Power|idiar|||1,070,000,000||693,463,986|706,338,990|31,122,453|31,122,453|
|||Power|station||7|||||
|Generation|y|||||||||
||||constructio|||||||
|Co., Ltd.||||||||||
||||n.|||||||
||||Wind|||||||
|GuangdongYude|||Power|||||||
|an Zhanjiang|Subs||generation|||||||
|||Electric||||||||
|Wind Power|idiar||and power|346,110,000|954,182,672|388,380,304|55,561,193|19,658,086|15,651,126|
|||Power||||||||
|Generation|y||station|||||||
|Co., Ltd.|||constructio|||||||
||||n.|||||||
||||Power|||||||
|GuangdongYueji||||||||||
||Subs|||||||||
||||generation|||||||
|a Electric||Electric||||||||
||idiar||and power|1,200,000,000|657,301,631|438,158,691|295,458,126|13,123,526|13,123,526|
|Power Co.,||Power||||||||
||y||station|||||||
|Ltd.||||||||||
||||constructio|||||||

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||n.|||||||
|GuangdongYude|||Power|||||||
|an Anxin|Subs||generation|||||||
|||Electric||||||||
|Maintenance &|idiar||and|20,000,000|57,118,895|43,367,527|28,778,655|4,188,513|3,141,345|
|||Power||||||||
|installation|y||Maintenan|||||||
|Co., Ltd.|||ce|||||||
||||Power|||||||
|GuangdongYude||||||||||
||||generation|||||||
|an Humen|Subs|||||||||
|||Electric|and power|||||||
|Power|idiar|||150,000,000|144,526,470|140,621,115|150,000|-266,337|-266,337|
|||Power|station|||||||
|Generation|y|||||||||
||||constructio|||||||
|Co., Ltd.||||||||||
||||n.|||||||
||||Wind|||||||
|GuangdongYude|||Power|||||||
|an Shibeishan|Subs||generation|||||||
|||Electric||||||||
|Wind Power|idiar||and power|231,700,000|434,515,320|234,932,591|30,766,202|-984,374|-1,510,747|
|||Power||||||||
|Development|y||station|||||||
|Co., Ltd.|||constructio|||||||
||||n.|||||||
||||Wind|||||||
||||Power|||||||
|Guangdong||||||||||
||Subs||generation|||||||
|Wind Power||Electric||||||||
||idiar||and power|221,872,900|252,933,852|202,843,995|4,717,872|-2,252,945|-1,718,644|
|Generation||Power||||||||
||y||station|||||||
|Co., Ltd||||||||||
||||constructio|||||||
||||n.|||||||
|GuangdongYu||||||||||
||||Power|||||||
|dean Huadu||||||||||
||Subs||generation|||||||
|Natural Gas||Electric||||||||
||idiar||and|120,000,000|115,961,373|115,646,515|0|-2,326,209|-2,326,209|
|&||Power||||||||
||y||Maintenan|||||||
|Heat-Power||||||||||
||||ce|||||||
|Co., Ltd.||||||||||
||||Coal dock|||||||
|GuangdongYu|||constructio|||||||
|dean Bohe|Sub||n and|||||||
|||Electric|||1,412,431,68|||||
|Coal-fired|sidi||power|1,085,000,000||1,037,930,942|0|-4,143,217|-4,143,217|
|||Power|||9|||||
|Power Co.,|ary||station|||||||
|Ltd|||constructio|||||||
||||n.|||||||
|GuangdongYude|Subs||Power|||||||
|||Electric|||1,415,934,12|||||
|an Dapu Power|idiar||generation|700,000,000||700,000,000|0|0|0|
|||Power|||4|||||
|Generation|y||and power|||||||

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Co., Ltd.|||station|||||||
||||constructio|||||||
||||n.|||||||
||||Wind|||||||
|Guangdong|||Power|||||||
||Shar|||||||||
|Guohua Yudean|||generation|||||||
||ing|Electric|||14,859,170,3|||||
|Taishan Power|||and power|4,500,000,000||9,007,979,155|4,963,080,620|1,618,271,544|1,212,928,883|
||Com|Power|||66|||||
|Generation Co.,|||station|||||||
||pany|||||||||
|Ltd.|||constructio|||||||
||||n.|||||||

4. Significant projects of investments with non-raised funds
□ Applicable√ Not applicable
The company has no project invested by raised fund in the reporting period.
VI. Performance Forecast for January to September 2014
Alert of loss or significant change in net profit from the beginning of year to the end of next report period or comparing with the same period of last year, and statement of causations.
□ 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 relevent situation of the “non-standard audit report” of the first half year.
□ 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 2013 was examined and adopted by its 2013 annual shareholders' general meeting on May 20, 2014. The Company published Announcement of Interest Distribution for 2013 on designated media on June 25, 2014. The stock right registration date is June 30, 2014 (July 3 for B shares). The ex-dividend date is July 1, 2014. Cash dividends were distributed on July 1 (for A shares) and July 3 (for B shares).
|||
|-|-|
|Special explanation of the cash dividend policy||
|Whether conformed with the regulations of the Articles of association or the||
||Yes|
|requirements of the resolutions of the shareholders’ meeting:||
|Whether the dividend standard and the proportion were definite and clear:|Yes|

|||
|-|-|
|Whether the relevant decision-making process and the system were complete:|Yes|
|Whether the independent director acted dutifully and exerted the proper function:|Yes|
|Whether the medium and small shareholders had the chances to fully express their||
||Yes|
|suggestions and appeals, of which their legal interest had gained fully protection:||
|Whether the conditions and the process met the regulations and was transparent of||
||Not applicable|
|the adjustment or altered of the cash dividend 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|
||||||The Company’s current|
||||||production of operation|
||Office of the|Onsite||||
|March 7, 2014|||Organiation|Zhongjin Company|conditions and the situation|
||Company|investigation||||
||||||of the construction and|
||||||development projects|

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. Material lawsuits
□ Applicable√ Not applicable
Not Material lawsuits and arbitrations occurred in this period.
III. Media queries
□ Applicable√ Not applicable
Not Media queries raised in the report period.
IV. Bankruptcy or Reorganization Events
□ Applicable√ Not applicable
There Company was not involved in any bankruptcy or reorganization events in the reporting period.
V. Transaction in Assets
1.Acquisition of Assets
√Applicable□ Not applicable
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||Net profit|Net profit||||||
|||||contributed|contributed||||||
|The|||||||||||
|||||to the|to the||||||
|other||||||Proportion of||Connectivity|||
||Assets||||||||||
|||||company|Company||||||
|party||Transact||||the net profit|Is it a|relations with the|||
||acquisition|||from the|from the||||||
|or||ion|Progre|||contributed by|related|other party|Disclos||
||or|||acquisition|year|||||Disclosure index|
|eventu||price(R|ss|||the asset for the|transacti|(applicable to the|ure date||
||transferred|||date to the|beginning||||||
|al||MB )||||Company in the|on (Y/N)|related|||
||in|||year end|to the year||||||
|control||||||total profit (%)||transaction)|||
|||||(RMB|end||||||
|ler|||||||||||
|||||‘0000)|(RMB’000||||||
|||||(Applicable|0)||||||

||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||to the|(Applicabl||||||
|||||consolidati|e to the||||||
|||||on of the|consolidati||||||
|||||enterprises|on of the||||||
|||||not under|enterprises)||||||
|||||the )|||||||
|||||||||||Name|
|||||||||||ofAnnouncement|
|||||||||||: Anouncement of|
|||||||||||Resolutions of the|
|||||||||||17th Meeting of|
|||||||||||the Seventh Board|
||||All the|||||||of Directors,|
||Partial ass||||||||||
||||releva|||||||Related|
||ets of Gua||nt|||||||Transaction|
|Shaog|||||||||||
||ngdong Sh||asset|||||||Announcement of|
|uan D|||||||||||
||aoguan Yu||proper||||||Decemb|on Acquisition of|
|Power||||||||Corntrolled by|||
||ejiang Po|3,955.26|ty|0|0|0.00%|Yes||er 26,|Capacity of|
|Gener||||||||Yuduan Group|||
||wer Gener||rights||||||2013|Shutdown Units|
|ation|||||||||||
||ation Co.,||have|||||||by A Controlled|
|Plant|||||||||||
||Ltd.||been|||||||Subsidiary，|
||||transfe|||||||Announcement|
||||red|||||||No.:2013-68,2013|
|||||||||||-70，Published in|
|||||||||||China Securities|
|||||||||||Daily, Securities|
|||||||||||Times and|
|||||||||||http//.www.cninfo|
|||||||||||.com.Cn.|

 2. Sale of assets
□ Applicable√ Not applicable
There is no sale of assets in the Company during the reporting period
3. Business combination
□ Applicable√ Not applicable
There is no business 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 transactions in connection with daily operation
√ Applicable□Not applicable
In January–June 2014,Daily related transactions were carried out after examination and approval by 2013 annualshareholders’general meeting. Refer to (5) related transactions of VIII. Related transactions on purchasing goods and receiving services (1) and Related leases (2).Relationship between related parties and the transactions between them of the Financial report of this report for details.
The Related transactions existing between the company and the affiliates mainly display on purchasing fuses and materials, apportioning the common operating costs, accepting and offering labor services, selling the products, deposit and demanding interests, and leasing the fields out, etc.
The pricing policy of the said relatedtransaction:：For the price of fuel purchase, if the state sets a price, such price shall apply. If the State does not set a price, market price shall apply. The related parties promised that the price offered would not be higher than the price of products of the same quality offered to third parties. The price of materials shall be settled according to market price. Labor services/services are accepted and provided at the price agreed by both parties according to cost price and by 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.
The said related transactions were settled in cash and did not have unfavorable influence on the profit of the Company. There is no significant difference from estimated related transactions.
2. Related-party transactions arising from asset acquisition or sale
√Applicable□ Not applicable
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
||||Conte|Pricing|||||||||
|||Type of|||||||||||
||||nt of|principle|Book||||||||
|||the||||Assessed|Market|Transfer|Mode|Transa|||
||||the|of the|value of||||||Disclo||
|Relate|Relati|related-pa||||value of|value|price|of|ction|||
||||related|related-p|the||||||sure|Disclosure index|
|d party|onship|rty||||transferred|(RMB|(RMB’0|settle|profit|||
||||-party|arty|transferred||||||date||
|||transactio||||assets|‘0000)|000)|men|or loss|||
||||transac|transacti|assets||||||||
|||n|||||||||||
||||tion|on|||||||||
|||||||||||||Name|
|||||||||||||ofAnnouncement :|
|Shaog|Corntr||||||||||||
|||||||||||||Anouncement of|
||||Acquis||||||Bankd||||
|uan D|olled|||Price||||||||Resolutions of the|
||||ition||||||eposi||Decem||
|Power|by|Acquisitio||assessm||||||||17th Meeting of the|
||||of||4,705.2|3,955.26||3,955.26|t and||ber 26,||
|Gener|Yudua|n of assets||ent||||||||Seventh Board of|
||||fixed||||||settle||2013||
|ation|n|||agency||||||||Directors, Related|
||||assets||||||ment||||
|Plant|Group|||||||||||Transaction|
|||||||||||||Announcement of on|
|||||||||||||Acquisition of|

||||
|-|-|-|
|||Capacity of|
|||Shutdown Units by A|
|||Controlled|
|||Subsidiary ，|
|||Announcement|
|||No.:2013-68,2013-70|
|||，Published in|
|||China Securities|
|||Daily, Securities|
|||Times and|
|||http//.www.cninfo.co|
|||m.Cn.|
|The reasons of the differences|||
||Little differences||
|between transfer price and book|||
|value|||
||Yuejiang company is expanding “New Big Power Units While Closing Small Ones” (2*600||
||MW)” Project of Shaoguan Power Generation Plant. To purchase the assets of Shaoguan D Plant||
|Impacts on the company’s|is mainly to produce auxiliary facilities. It is the necessary measure for the company to meet the||
|operating results and financial|needs of production, operation and the expansion of the project. This kind of assets is actually||
|condition|used by Yuejiang Company so far. If the company doesn’t purchase it, it needs to repurchase. This||
||transaction helps to save the construction and operation cost of Yuejiang Company’s unit, thus it is||
||in line with the overall interests of the quoted companies.||

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 period.
4. Credits and liabilities with related parties
√ Applicable□ Not applicable
The related bonds transactions in 2014 are all for the daily related transactions with Yuejiang Company. Through the examination and approval of the annual general meeting of shareholders in 2013, storing money and charging its interest is carried out according to the related regulations ofPeople’s Bank of China. For specific information, please refer to the financial report included in this report, “VIII.. Related Parties and Related Transaction (5), Related Transaction (4), Finance Loans of Related Parties”.
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||||||||
|||||||||e|
||||Date of||||||
||disclosure||||||Complete|for|
||||happening|Actual|||||
|Name of the|date/No. of|Amount of|||Guarantee|Guarantee|implemen|associate|
||||(Date of|mount of|||||
|Company|the|Guarantee|||type|term|tation|d|
||||signing|guarantee|||||
||guaranteed||||||or not|parties|
||||agreement)||||||
||amount|||||||(Yes or|
|||||||||no)|
|Lincang|||||||||
|YuntouYudean|||||Guaranteein||||
||July 22,||December 25,||||||
|Hydroelectricity||3,430||1,715|g of joint|15 Years|No|No|
||2006||2006||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Lincang|||||Guaranteein||||
||July 22,||||||||
|YuntouYudean||1,372|July 29, 2008|686|g of joint|10 years|No|No|
||2006||||||||
|Hydroelectricity|||||liabilities.||||

||||||||||
|-|-|-|-|-|-|-|-|-|
|Development Co.,|||||||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||May 24,||November 30,||||||
|Hydroelectricity||2,900||1,595|g of joint|15 years|No|No|
||2007||2007||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||May 24,||November 30,||||||
|Hydroelectricity||1,305||391.5|g of joint|12 years|No|No|
||2007||2007||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||May 24,||December 19,||||||
|Hydroelectricity||4,350||3,480|g of joint|17 years|No|No|
||2007||2007||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||December||December 25,||||||
|Hydroelectricity||4,350||2,204|g of joint|17 years|No|No|
||19, 2007||2007||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||December||March 18,||||||
|Hydroelectricity||12,000||12,000|g of joint|20 years|No|No|
||19, 2007||2008||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||August 22,||October 31,||||||
|Hydroelectricity||5,800||5,800|g of joint|19 years|No|No|
||2008||2008||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||November||November 14,||||||
|Hydroelectricity||7,250||3,306|g of joint|12 years|No|No|
||12, 2008||2008||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||May 27,||May 27,||||||
|Hydroelectricity||7,250||5,075|g of joint|14 years|No|No|
||2009||2009||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||

||||||||||
|-|-|-|-|-|-|-|-|-|
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||May 27,||June 22,||||||
|Hydroelectricity||9,367||8,207|g of joint|20 years|No|No|
||2009||2009||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|Yunnan Baoshan|||||||||
|Binlangjiang|||||Guaranteein||||
||September||December 16,||||||
|Hydroelectricity||14,500||8,999.35|g of joint|10 years|No|No|
||10, 2010||2010||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|||||||The power|||
|||||||plant put in|||
|Weixin Yuntou|||||Guaranteein||||
||March 8,||March 27,||||||
|||||||to operatio|||
|Yudean Zhaxi||33,480||32,977.8|g of joint||No|No|
||2012||2012|||n and termi|||
|Energy Co., Ltd.|||||liabilities.||||
|||||||nated after|||
|||||||two years|||
|Lincang|||||||||
|YuntouYudean|||||Guaranteeing||||
||November||November 28,||||||
|Hydroelectricity||25,000||8,330|of joint|18 years|No|No|
||11, 2011||2012||||||
|Development Co.,|||||liabilities.||||
|Ltd.|||||||||
|||||||The power|||
|||||||plant put in|||
|Weixin Yuntou|||||Guaranteeing||||
||March 8,||April 11,|||to operatio|||
|Yudean Zhaxi||27,400||27,400|of joint||No|No|
||2012||2013|||n and termi|||
|Energy Co., Ltd.|||||liabilities.||||
|||||||nated after|||
|||||||two years|||
|Weixin Yuntou|||||Guaranteein||||
||November||May 21,||||||
|Yudean Zhaxi||12,000||12,000|g of joint|3|No|No|
||16, 2013||2014||||||
|Energy Co., Ltd.|||||liabilities.||||
|Total amount of approved||||Total actually amount of|||||
|external guarantee in the report||0||external guarantee in the||-8,683.08|||
|period(A1)||||report period(A2)|||||
|Total amount of approved||||Total actually amount of|||||
|external guarantee at the end of||254,251||external guarantee at the end||134,166.65|||
|the report period(A3)||||of the report period(A4)|||||
|Guarantee of the company for its subsidiaries|||||||||
||Related||Date of||||Complete|Guarante|
|||||Actually|||||
|Name of the|announcem|Amount of|happening(date||Guarantee|Guarantee|implemen|e for|
|||||guarantee|||||
|company guaranteed|ent date and|guarantee|of signing||type|term|tation or|related|
|||||amount|||||
||no.||agreement)||||not|party(yes|

||||||||||
|-|-|-|-|-|-|-|-|-|
|||||||||or no)|
|Guangdong|||||||||
||||||Guaranteeing||||
|Yudean Zhanjiang|April 29,||October 9,||||||
|||15,700||13,200|of joint|18 years|No|No|
|Wind Power Co.,|2009||2010||||||
||||||liabilities.||||
|Ltd|||||||||
|Guangdong|||||||||
||||||Guaranteeing||||
||June 29,||||||||
|Shaoguan Yuejiang|||||||||
|||23,075|July 28, 2011|10,923.22|of joint|7 years|No|No|
|Power Generation|2011||||||||
||||||liabilities.||||
|Co., Ltd.|||||||||
|Guangdong|||||||||
||||||Guaranteeing||||
|Shaoguan Yuejiang|August 15,||December 6,||||||
|||19,500||14,761.7|of joint|5 years|No|No|
|Power Generation|2012||2012||||||
||||||liabilities.||||
|Co., Ltd.|||||||||
|Total of guarantee for subsidiaries||||Total of actual guarantee for|||||
|||0||||-5,311.27|||
|approved in the period(B1)||||subsidiaries in the period (B2)|||||
|Total of guarantee for subsidiaries||||Total of actual guarantee for|||||
|||74,200||||38,884.92|||
|approved at period-end(B3)||||subsidiaries at period-end(B4)|||||
|Total of company’s guarantee(namely total of the large two aforementioned)|||||||||
|Total of guarantee approved in the||||Total of Actual guarantee in|||||
|||0||||-13,994.35|||
|period(A1+B1)||||the period(A2+B2|||||
|Total of guarantee approved at the||||Total of actual guarantee at|||||
|||328,451||||173,051.57|||
|period-end(A3+B3)||||the period-end（A4+B4）|||||
|The proportion of the total amount guarantee in the net assets of|||||||||
|||||8.73%|||||
|the company(that is A4+B4)|||||||||
|Including：|||||||||
|Amount of guarantee for shareholders, Actual controller and its|||||||||
|||||0|||||
|associated parties(C)|||||||||
|The debts guarantee amount provided for the guaranteed parties|||||||||
|||||149,120.51|||||
|whose assets-liability ratio exceed 70% directly or indirectly(D)|||||||||
|Proportion of total amount of guarantee in net assets of the|||||||||
|||||0|||||
|company exceed 50%(E)|||||||||
|Total guarantee Amount of the abovementioned|||||||||
|||||149,120.51|||||
|guarantees(C+D+E)|||||||||

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. 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
|||||||
|-|-|-|-|-|-|
|Commitment|Commitmentmaker|Contents|Timeofmakingcommitment|Peiod ofcommitment|Fulfillment|
|Commitment onshare reform||||||
|Commitment in theacquisition report orthe report on equitychanges||||||
|Commitment madeupon the assetsreplacement|GuangdongYudeanGroupCo.,Ltd.|Yue Dian Li is the only quoted platform of Yudean Group’selectricity asset integration within the boundary. ② Except YueDian Li and the electricity assets controlled by it, within 5years after the last recombination is done, Yudean Group willpump the assets which meet the conditions of launching afterreformation into Yue Dian Li gradually through purchasing andrecombination and other ways, according to the situation ofsolutions to different problems, e.g. the imperfect examinationand approval procedures, the situation of profitability,cooperation agreement and land utilization. ③ At the aspects ofthe development of power project and assets purchasing,Yudean Group provides the priority for Yue Dian Li choose. IfYue Dian Li gives up development and purchasing, GuangkongGroup will join Yue Dian Li under the situation that the projectis completed and put into production, and that the purchase isdone and the project meets the conditions of listing.For details,see June 5, 2014, published in the designated media "Announcement of Guangdong Electric Power Development Co.,Ltd. matters related to commitments".|November3,2011|Within 5years after the completion ofmajor asset reorganization|Underfulfillment|
|Commitments madeupon issuance||||||
|Other commitments||||||

|||
|-|-|
|made to minorityshareholders||
|Executed timely ornot?|Yes|

XI. Particulars about engagement and disengagement of CPAs firm
Whether the semi-annual financial report had been audited?
□ Yes√ No
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
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
The Company issued corporate bonds of RMB 2 billion with coupon rate of5.5% on March 10, 2008.
Construction Bank of China Co., Ltd. authorized its Guangdong Branch to provide full-amount, unconditional and irrevocable guarantee of joint and several liabilities. The corporate bonds were listed for trading at Shenzhen Stock Exchange on March 27, 2008. Stock code: 112001; Stock abbreviation: 08 Yudean Bond. Term: 7 years. Put provision is attached. March 3, 2015 is the trading termination day (subject to the announcement of the
Company).
On March 18, 2014, the Company newly issued corporate bonds of RMB 1.2 billion with coupon rate of4.95%. The corporate bonds were listed for trading at Shenzhen Stock Exchange on May 24, 2013. Stock code: 112162; Stock abbreviation: 12 Yudean Bond. The term of bonds is 7 years and put provision is attached. March 18, 2020 is the trading termination day (subject to the announcement of the Company).
During the reporting period, the company's credit status did not change significantly.At the end of the report perio d, the company's assets and liabilities was61.72%. During the reporting period, the guarantor sustained profitabili ty, asset size keep growing and there is no negative change in credit conditions. The company paid interest on Mar ch 10, 2014, on the 18th for 6th "08 Yudean debt"and "12 Yudean debt" in the first interest period.
Quantity of bonds held by the top ten bond shareholders of the Company(As of June 30, 2014)
||||
|-|-|-|
|Bondabbreviation andcode|Name of shareholder|Quantity of bonds|
|08 Yudean（112001）|Taiping Life insurance Co., Ltd－Universal－Group insuranceUniversal|2,450,000|
||China Life Insurance Co., Ltd.|2,388,140|

||||
|-|-|-|
||Xinhua Life Insurance Co., Ltd.－ Universal - SatisfyingMoney Management-018L-WN001 Shen|2,200,000|
||Zhongying Life insurance Co., Ltd.|2,114,775|
||Postal Savings Bank of China|2,000,000|
||China Post Finance Co., Ltd.|1,336,678|
||Taikang Life Insurance Co., Ltd.－ Dividend distribution －Group Dividend Distribution -019L-FH001 Shen|999,854|
||Taikang Life Insurance Co., Ltd.－ Universal－IndividualInsurance Universal|999,800|
||Zhongyi Life Insurance Co., Ltd.－ Annuity product of ChinaPetroleum - Stock Account|800,000|
||Jinyuan Securities Co., Ltd.|530,805|
|12Yudean（112162）|CCB|3,600,000|
||China Life Insurance Co., Ltd.|2,400,000|
||China Merchants bank|2,000,000|
||China Pingan Life insturance Co., Ltd.－Dividend distribution－Individual insurance dividend|1,400,000|
||China Investment management －Bank of China－Bank ofChina|1,200,000|
||China Pingan Life insturance Co., Ltd.－Universal－Individualinsurance universal|1,000,000|
||Tianhong Fund-ICBC-Tianghong –Pengyang No.11 AssetsManagement Plan.|200,000|
||Jinyuan Securities Co., Ltd.|194,510|
||Wu Xuefang|1,410|
||Xue Hong|1,000|

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|1,582,206,|||||||1,582,206||
|||36.16%||||250|250||36.16%|
|subscription|139|||||||,389||
|2. State-owned legal|1,577,825,|||||||1,577,825||
|||36.06%||||0|0||36.06%|
|person shares|387|||||||,387||
|3.Other domestic shares|4,380,752|0.10%||||250|250|4,381,002|0.10%|
|Of which：Domestic legal||||||||||
||4,306,855|0.10%||||0|0|4,306,855|0.10%|
|person shares||||||||||
|Domestic natural person||||||||||
||73,897|0.00%||||250|250|74,147|0.00%|
|shares||||||||||
|I. Shares with|2,793,030,|||||||2,793,030||
|||63.84%||||-250|-250||63.84%|
|unconditional subscription|516|||||||,266||
||2,127,690,|||||||2,127,690||
|1.Common shares in RMB||48.63%||||-250|-250||48.63%|
||516|||||||,266||
|2.Foreign shares in|665,340,0|||||||665,340,0||
|||15.21%|||||||15.21%|
|domestic market|00|||||||00||
||4,375,236,|||||||4,375,236||
|III. Total of capital shares||100.00%|||||||100.00%|
||655|||||||,655||

Reasons for share changed:
√Applicable□ Not applicable
During the reporting period, the former company executives Mr. Luo Zhiheng resigned and the 250 shares with u nconditional subscription transferred to executives lock shares.
Approval of Change of Shares
□ Applicable√ Not applicable
Ownership transfer of share changes
□ Applicable√ Not applicable
Influence on the basic EPS and diluted EPS as well as other financial indexes of net assets per share attributable to
common shareholders of Company in latest year and period
□ Applicable√ Not applicable
Other information necessary to disclose for the company or need to disclosed under requirement from security regulators
□ Applicable√ Not applicable
Explanation on changes in aspect of total shares, shareholders structures as well as structure of assets and liability of the Company
□ Applicable√ Not applicable
II. Number of shares and shares held
In shares
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||||Total number of preferredshareholders that had restored||||||
|Total number of common||||||||||
|shareholders at the end of the|119,465|||the voting right at the end of thereporting period (if any) (note8)|||0|||
|reporting period||||||||||
|Shareholding of shareholders holding more than 5% shares||||||||||
|||||||||Number os||
|||Proporti||||||||
|||||||||share||
|||on of|Number of||Changes in|Amount of|Amount of|||
||Nuture of|||||||pledged/frozen||
|Shareholders||shares|shares held at||reporting|restricted|un-restricted|||
||shareholder|||||||State||
|||held|period -end||period|shares held|shares held||Amoun|
|||||||||of||
|||（%）|||||||t|
|||||||||share||
|Guangdong Yudean Group Co.,Ltd.|State-ownedlegal person|67.39%|2,948,297,867|||1,577,825,387|1,370,472,480|||
|Guangdong Guangfa ElectricPower Investment Co., Ltd.|State-ownedlegal person|2.33%|101,777,185|||||||
|Guangdong Electric PowerDevelopment Corporation|State-ownedlegal person|1.80%|78,639,451|||||||
|China Construction Bank－Penghua Value AdvantageStock-linkedSecurity Investment Fund|DomesticnonState-ownedLegal person|0.65%|28,304,734||-3,937,305|||||
|GUOTAI JUNANSECURITIES(HONGKONG)LIMITED|Overseaslegal person|0.38%|16,595,578||-2,705,353|||||
|BBH A/C VANGUARDEMERGING MARKETSSTOCK INDEX FUND|Overseaslegal person|0.30%|13,330,537|||||||
|CHINA INT'L CAPITAL CORPHONG KONG SECURITIESLTD|Overseaslegal person|0.26%|11,348,243||-391,867|||||

|||||||||
|-|-|-|-|-|-|-|-|
|GOLDEN CHINA MASTERFUND|Overseaslegal person|0.26%|11,279,415|||||
|Chaokang Investment Co., Ltd.|Overseaslegal person|0.22%|9,713,897|||||
|Li Zhuo|Domesticnaturalpersonshares|0.22%|9,619,676|9,619,676||||
|Strategy investors or general legal person||||||||
|becomes top 10 shareholders due to rights||N/A||||||
|issued (if applicable)（See Notes 3）||||||||
|||The third largest shareholder Guangdong Electric Power Development Co., Ltd.||||||
|||and the ninth largest shareholders Guangdong Chaokang Investment Co., Ltd. are||||||
|Explanation on associated relationship among||||||||
|||the wholly-owned subsidiaries of the largest shareholder Yudean Group. These three||||||
|the aforesaid shareholders||||||||
|||companies have relationships; whether the other shareholders have relationships or||||||
|||unanimous acting was unknown.||||||
|Shareholding of top 10 shareholders of unrestricted shares||||||||
||||||Quantity of|Share type||
||||||unrestricted shares|||
|Name of the shareholder|||||||Quantit|
||||||held at the end of|Share type||
||||||||y|
||||||the reporting period|||
|Guangdong Yudean Group Co., Ltd.|||||1,370,472,480|RMB Common||
|||||||shares||
|Guangdong Guangfa Electric Power Investment Co., Ltd.|||||101,777,185|RMB Common||
|||||||shares||
|Guangdong Electric Power Development Corporation|||||78,639,451|RMB Common||
|||||||shares||
|China Construction Bank－Penghua Value Advantage Stock-linkedSecurity Investment Fund|||||28,304,734|RMB Common||
|||||||shares||
|GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED|||||16,595,578|Foreign shares||
|||||||placed in domestic||
|||||||exchange||
|BBH A/C VANGUARD EMERGING MARKETS STOCK INDEX FUND|||||13,330,537|Foreign shares||
|||||||placed in domestic||
|||||||exchange||
|CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD|||||11,348,243|Foreign shares||
|||||||placed in domestic||
|||||||exchange||
|GOLDEN CHINA MASTER FUND|||||11,279,415|Foreign shares||
|||||||placed in domestic||

||||
|-|-|-|
|||exchange|
|Chaokang Investment Co., Ltd.|9,713,897|Foreign shares|
|||placed in domestic|
|||exchange|
|Li Zhuo|9,619,676|RMB Common|
|||shares|
||The third largest shareholder Guangdong||
||Electric Power Development Co., Ltd. and the||
||ninth largest shareholders Guangdong Chaokang||
|Explanation on associated relationship or consistent action among the top 10|Investment Co., Ltd. are the wholly-owned||
|shareholders of non-restricted negotiable shares and that between the top 10|subsidiaries of the largest shareholder Yudean||
|shareholders of non-restricted negotiable shares and top 10 shareholders|Group. These three companies have||
||relationships; whether the other shareholders||
||have relationships or unanimous acting was||
||unknown.||
||Li Zhuo. holds9,619,483 A shares of the||
||Company through stock account with credit||
|Explanation on shareholders participating in the margin trading business(if|||
||transaction and guarantee and holds 193 A shares||
|any )(see note 4)|||
||through ordinary stock account. hold 9,619,676||
||shares of the Company's stock totally.||

Did any shareholder of the Company carry out an agreed buy-back in the reorting period?
□ Yes√ No
Shareholders of the Company had not carried out any agreed buy-back in the 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.
Section VII. Situation of the Preferred Shares
I.Situation of preferred stock issuance and listing during the reporting period
□ Applicable√ Not Applicable
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 2013 Annual Report.
II. Changes in directors, supervisors and senior management staffs
√ Applicable□ Not applicable
||||||
|-|-|-|-|-|
|Name|Title|Type|Date|Reason|
|Liu Qian|Former Vice Chairman|Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
|Wang Jin|Former Director|Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
|Rao Subo|Former Director|Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
|Wang Jun|Former Independent director|Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
|Song Xianzhong|Former Independent director|Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
|Zhu Weiping|Former Independent director|Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
|Feng Xiaoming|Former Independent director|Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
||Former Employee||||
|Tong Jianjun||Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
||Supervisor||||
||Former Independent||||
|Sha Qilin||Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
||supervisor||||
||Former Independent||||
|Xiang Ying||Leaving end-of -tour|May 20, 2014|Leaving end-of -tour|
||supervisor||||
||Former director,||||
|Lin Shizhuang||Retiring, Dismissal|January 17, 2014|Job transfer|
||General Manager||||
|Luo Zhiheng|Former Deputy Manager|Dismissal|April 22, 2014|Job transfer|
|||||Be elected in the General Elect|
|Zhu Dejun|Director|Be elected|May 20, 2014||
|||||ions|
|||||Be elected in the General Elect|
|Yang Xinli|Director|Be elected|May 20, 2014||
|||||ions|
|||||Be elected in the General Elect|
|Hu Xiaolei|Director|Be elected|May 20, 2014||
|||||ions|
|||||Be elected in the General Elect|
|Sha Qilin|Independent Director|Be elected|May 20, 2014||
|||||ions|
|||||Be elected in the General Elect|
|Mao Fugen|Independent Director|Be elected|May 20, 2014||
|||||ions|
|||||Be elected in the General Elect|
|Ding Yougang|Independent Director|Be elected|May 20, 2014||
|||||ions|

||||||
|-|-|-|-|-|
|||||Be elected in the General Elect|
|Lu Jun|Independent Director|Be elected|May 20, 2014||
|||||ions|
|||||Be elected in the General Elect|
|Li Qing|Employee Supervisor|Be elected|May 20, 2014||
|||||ions|
|||||Be elected in the General Elect|
|Zhu Weiping|Independent Supervisor|Be elected|May 20, 2014||
|||||ions|
|||||Be elected in the General Elect|
|Jiang Jinshuo|Independent Supervisor|Be elected|May 20, 2014||
|||||ions|
|||||Be elected in the General Elect|
|Yao Jiheng|Director, General Manager|Be elected,Engaged|January 17, 2014||
|||||ions, Hired|
|Yang Xuanxing|Deputy General Manager|Engaged|January 17, 2014|Hired|

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.
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Current asset：|||
|Monetary fund|5,144,118,327.00|4,377,311,176.00|
|Settlement provision|||
|Outgoing call loan|||
|Trading financial assets|||
|Bill receivable|0.00|1,800,000.00|
|Account receivable|3,289,795,395.00|3,266,445,752.00|
|Prepayments|1,265,148,799.00|1,497,883,626.00|
|Insurance receivable|||
|Reinsurance receivable|||
|Provisions of Reinsurance contracts receivable|||
|Interest receivable|7,124,032.00|5,788,038.00|
|Dividend receivable|||
|Other account receivable|134,756,744.00|327,650,307.00|
|Repurchasing of financial assets|||
|Inventories|1,730,044,139.00|1,603,646,410.00|
|Non-current asset due in 1 year|||
|Other current asset|775,827,900.00|1,057,135,500.00|
|Total of current assets|12,346,815,336.00|12,137,660,809.00|

||||
|-|-|-|
|Non-current assets：|||
|Loans and payment on other’s behalf disbursed|||
|Disposable financial asset|287,107,320.00|298,871,738.00|
|Expired investment in possess|||
|Long-term receivable|116,951,900.00|114,478,124.00|
|Long term share equity investment|7,243,799,746.00|7,025,016,544.00|
|Property investment|10,521,231.00|10,839,031.00|
|Fixed assets|40,249,325,783.00|41,524,036,240.00|
|Construction in progress|4,297,346,681.00|3,883,361,454.00|
|Engineering material|2,186,095.00|2,229,432.00|
|Fixed asset disposal|6,171,804.00|2,588,660.00|
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|1,205,127,669.00|1,201,873,048.00|
|R & D petrol|367,521.00||
|Goodwill|2,449,886.00|2,449,886.00|
|Long-germ expenses to be amortized|3,255,757.00|324,905.00|
|Differed income tax asset|52,101,276.00|47,041,613.00|
|Other non-current asset|1,805,582,302.00|1,667,947,551.00|
|Total of non-current assets|55,282,294,971.00|55,781,058,226.00|
|Total of assets|67,629,110,307.00|67,918,719,035.00|
|Current liabilities|||
|Short-term loans|9,254,795,553.00|9,361,000,000.00|
|Loan from Central Bank|||
|Deposit received and hold for others|||
|Call loan received|||
|Trade off financial liabilities|||
|Bill payable|730,839,198.00|1,523,123,018.00|
|Account payable|2,671,503,810.00|2,743,864,659.00|
|Advance payment|1,874,410.00|1,084,177.00|
|Selling of repurchased financial assets|||
|Fees and commissions receivable|||
|Employees’ wage payable|272,895,812.00|162,241,634.00|
|Tax payable|673,906,978.00|797,347,744.00|

||||
|-|-|-|
|Interest payable|222,453,607.00|188,370,219.00|
|Dividend payable|13,434,168.00|12,558,757.00|
|Other account payable|2,873,851,488.00|3,430,874,713.00|
|Reinsurance fee payable|||
|Insurance contract provision|||
|Entrusted trading of securities|||
|Entrusted selling of securities|||
|Non-current liability due in 1 year|4,392,767,813.00|2,090,742,188.00|
|Other current liability|0.00|1,348,750,493.00|
|Total of current liability|21,108,322,837.00|21,659,957,602.00|
|Non-current liabilities：|||
|Long-term loan|17,366,905,979.00|15,272,003,561.00|
|Bond payable|1,194,285,736.00|3,190,970,481.00|
|Long-term payable|1,943,995,144.00|2,088,355,894.00|
|Special payable|6,618,277.00|10,779,740.00|
|Expected liabilities|||
|Differed income tax liability|11,762,696.00|12,303,165.00|
|Other non-current liabilities|106,546,622.00|91,677,740.00|
|Differed income|20,630,114,454.00|20,666,090,581.00|
|Total of liability|41,738,437,291.00|42,326,048,183.00|
|Owners’ equity|||
|Share capital|4,375,236,655.00|4,375,236,655.00|
|Capital reserves|5,035,895,413.00|5,044,718,726.00|
|Less：Shares in stock|||
|Special reserves|||
|Surplus reserves|4,810,903,365.00|4,203,571,276.00|
|Common risk provision|||
|Undistributed profit|5,593,468,519.00|5,431,387,393.00|
|Different of foreign currency translation|||
|Total of owner’s equity belong to the parent company|19,815,503,952.00|19,054,914,050.00|
|Minority shareholders’ equity|6,075,169,064.00|6,537,756,802.00|
|Total of owners’ equity|25,890,673,016.00|25,592,670,852.00|
|Total of liabilities and owners’ equity|67,629,110,307.00|67,918,719,035.00|

Legal representative：Pan Li Person-in-charge of the accountingwork：Li Xiaoqing Person-in -charge of the accountingorgan：Qin Jingdong
2. Balance sheet of the Parent Company
Preparedby：Guangdong Electric Power Development Co., Ltd.
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-beginning balance|
|Current asset：|||
|Monetary fund|673,732,521.00|296,476,854.00|
|Trading financial assets|||
|Bill receivable|||
|Account receivable|338,321,969.00|252,615,520.00|
|Prepayments|142,657,140.00|183,758,605.00|
|Interest receivable|1,281,903.00|1,543,756.00|
|Dividend receivable|9,155,096.00|9,155,096.00|
|Other account receivable|307,188,500.00|111,309,157.00|
|Inventories|131,459,747.00|148,348,001.00|
|Non-current asset due in 1 year|||
|Other current asset|85,145,999.00|85,145,999.00|
|Total of current assets|1,688,942,875.00|1,088,352,988.00|
|Non-current assets：|||
|Disposable financial asset|287,107,320.00|298,871,738.00|
|Expired investment in possess|||
|Long-term receivable|350,000,000.00|500,000,000.00|
|Long term share equity investment|21,945,431,126.00|21,316,647,925.00|
|Property investment|10,521,232.00|10,839,031.00|
|Fixed assets|1,269,731,205.00|1,224,223,876.00|
|Construction in progress|64,326,867.00|89,192,352.00|
|Engineering material|||
|Fixed asset disposal|3,140,651.00|1,976,080.00|
|Production physical assets|||
|Gas & petrol|||
|Intangible assets|101,255,864.00|102,887,809.00|
|R & D petrol|||
|Goodwill|||
|Long-germ expenses to be amortized|||
|Differed income tax asset|3,524,872.00|583,768.00|

||||
|-|-|-|
|Other non-current asset|90,000,000.00|270,000,000.00|
|Total of non-current assets|24,125,039,137.00|23,815,222,579.00|
|Total of assets|25,813,982,012.00|24,903,575,567.00|
|Current liabilities|||
|Short-term loans|1,530,000,000.00|1,400,000,000.00|
|Trade off financial liabilities|||
|Bill payable|348,839,198.00|137,874,618.00|
|Account payable|241,829,394.00|320,001,507.00|
|Advance payment|||
|Employees’ wage payable|34,808,311.00|35,715,896.00|
|Tax payable|36,581,414.00|20,225,274.00|
|Interest payable|57,949,953.00|153,688,714.00|
|Dividend payable|8,504,501.00|7,629,090.00|
|Other account payable|192,688,849.00|202,749,305.00|
|Non-current liability due in 1 year|2,057,197,649.00|89,000,000.00|
|Other current liability||623,885,333.00|
|Total of current liability|4,508,399,269.00|2,990,769,737.00|
|Non-current liabilities：|||
|Long-term loan|1,500,000,000.00|1,500,000,000.00|
|Bond payable|1,194,285,736.00|3,190,970,481.00|
|Long-term payable|||
|Special payable|||
|Expected liabilities|||
|Differed income tax liability|||
|Other non-current liabilities|49,881,131.00|27,885,554.00|
|Total of Non-current liabilities|2,744,166,867.00|4,718,856,035.00|
|Total of liability|7,252,566,136.00|7,709,625,772.00|
|Owners’ equity|||
|Share capital|4,375,236,655.00|4,375,236,655.00|
|Capital reserves|5,644,601,335.00|5,653,424,648.00|
|Less：Shares in stock|||
|Special reserves|||
|Surplus reserves|4,810,903,365.00|4,203,571,276.00|
|Commonly risk reserves|||

||||
|-|-|-|
|Undistributed profit|3,730,674,521.00|2,961,717,216.00|
|Different of foreign currency translation|||
|Total of owners’ equity|18,561,415,876.00|17,193,949,795.00|
|Total of liabilities and owners’ equity|25,813,982,012.00|24,903,575,567.00|

 Legal representative：Pan Li Person-in-charge of the accountingwork：Li Xiaoqing Person-in -charge of the accountingorgan：Qin Jingdong 3. Consolidated Profit statement
Preparedby：Guangdong Electric Power Development Co., Ltd.
In RMB
||||
|-|-|-|
|Items|Report period|Same period of the previous year|
|I. Income from the key business|14,971,313,646.00|14,547,027,472.00|
|Incl：Business income|14,971,313,646.00|14,547,027,472.00|
|Interest income|||
|Insurance fee earned|||
|Fee and commission received|||
|II. Total business cost|12,351,960,481.00|12,529,956,769.00|
|Incl：Business cost|10,982,443,113.00|11,025,868,327.00|
|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|85,666,772.00|100,133,677.00|
|Sales expense|1,471,882.00|1,753,357.00|
|Administrative expense|396,554,512.00|401,370,835.00|
|Financial expenses|887,886,490.00|983,330,573.00|
|Asset impairment loss|-2,062,288.00|17,500,000.00|
|Add：Gains from change of fir value （“-”for loss）|||
|Investment gain（“-”for loss）|350,116,580.00|379,355,414.00|
|Incl: investment gains from affiliates|336,254,319.00|348,882,444.00|
|Gains from currency exchange（“-”for loss）|||

||||
|-|-|-|
|III. Operational profit（“-”for loss|2,969,469,745.00|2,396,426,117.00|
|Add：Non-business income|16,955,331.00|22,045,003.00|
|Less：Non business expenses|26,279,545.00|1,192,282.00|
|Incl：Loss from disposal of non-current assets|20,960,267.00|190,368.00|
|IV.Total profit(“-”for loss)|2,960,145,531.00|2,417,278,838.00|
|Less：Income tax expenses|637,267,131.00|493,910,564.00|
|V. Net profit（“-”for net loss|2,322,878,400.00|1,923,368,274.00|
|Including: Net profit realized by the entity taken over|||
|before the takeover|||
|Net profit attributable to the owners of parent company|1,644,460,546.00|1,357,484,280.00|
|Minority shareholders’ equity|678,417,854.00|565,883,994.00|
|VI. Earnings per share：|--|--|
|（I）Basic earnings per share|0.38|0.31|
|(II)Diluted earnings per share|0.38|0.31|
|VII. Other comprehensive income|-8,823,313.00|-31,807,496.00|
|VIII. Total comprehensive income|2,314,055,087.00|1,891,560,778.00|
|Total comprehensive income attributable to the owner of the|||
||1,635,637,233.00|1,325,676,784.00|
|parent company|||
|Total comprehensive income attributable minority|||
||678,417,854.00|565,883,994.00|
|shareholders|||

Legal representative：Pan Li Person-in-charge of the accountingwork：Li Xiaoqing Person-in -charge of the accountingorgan：Qin Jingdong 4. Profit statement of the Parent Company
Preparedby：Guangdong Electric Power Development Co., Ltd.
In RMB
||||
|-|-|-|
|Items|Report period|Same period of the previous year|
|I. Income from the key business|1,336,343,088.00|1,494,929,807.00|
|Incl：Business cost|1,020,967,418.00|1,190,666,864.00|
|Business tax and surcharge|7,710,083.00|9,292,875.00|
|Sales expense|14,200.00|191,849.00|
|Administrative expense|62,046,419.00|74,898,654.00|
|Financial expenses|186,366,961.00|172,176,352.00|

||||
|-|-|-|
|Asset impairment loss|-1,388,889.00||
|Add：Gains from change of fir value （“-”for loss）|||
|Investment gain（“-”for loss）|2,206,084,036.00|1,163,629,634.00|
|Incl: investment gains from affiliates|336,254,319.00|348,882,444.00|
|II. Operational profit（“-”for loss|2,266,710,932.00|1,211,332,847.00|
|Add：Non-business income|3,417,626.00|1,786,767.00|
|Less：Non business expenses|4,944,391.00|277,657.00|
|Incl：Loss from disposal of non-current assets|910,256.00||
|III.Total profit(“-”for loss)|2,265,184,167.00|1,212,841,957.00|
|Less：Income tax expenses|13,847,442.00||
|IV. Net profit（“-”for net loss）|2,251,336,725.00|1,212,841,957.00|
|V. Earnings per share：|--|--|
|（I）Basic earnings per share|||
|(II)Diluted earnings per share|||
|VI. Other comprehensive income|-8,823,313.00|-31,807,496.00|
|VII. Total comprehensive income|2,242,513,412.00|1,181,034,461.00|

 Legal representative：Pan Li Person-in-charge of the accountingwork：Li Xiaoqing Person-in -charge of the accountingorgan：Qin Jingdong 5. Consolidated Cash flow statement
Preparedby：Guangdong Electric Power Development Co., Ltd.
In RMB
||||
|-|-|-|
|Items|Report period|Same period of the previous year|
|I.Cash flows from operating activities|||
|Cash received from sales of goods or rending of services|17,544,601,068.00|16,886,304,978.00|
|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|5,269,271.00|8,677,089.00|
|Other cash received from business operation|107,482,653.00|65,219,924.00|
|Sub-total of cash inflow|17,657,352,992.00|16,960,201,991.00|
|Cash paid for purchasing of merchandise and services|10,306,659,130.00|9,110,963,679.00|
|Net increase of client trade and advance|||
|Net increase of savings n central bank and brother company|||
|Cash paid for original contract claim|||
|Cash paid for interest, processing fee and commission|||
|Cash paid for policy dividend|||
|Cash paid to staffs or paid for staffs|705,648,519.00|667,731,364.00|
|Taxes paid|1,831,039,047.00|1,595,629,720.00|
|Other cash paid for business activities|279,876,385.00|262,586,367.00|
|Sub-total of cash outflow from business activities|13,123,223,081.00|11,636,911,130.00|
|Cash flow generated by business operation, net|4,534,129,911.00|5,323,290,861.00|
|II.Cash flow generated by investing|||
|Cash received from investment retrieving|95,095,390.00|258,780,000.00|
|Cash received as investment gains|145,416,583.00|73,871,656.00|
|Net cash retrieved from disposal of fixed assets, intangible|||
||5,960,128.00|2,853,086.00|
|assets, and other long-term assets|||
|Net cash received from disposal of subsidiaries or other|||
|operational units|||
|Net cash received from disposal of subsidiaries or other|||
|||422,451,302.00|
|operational units|||
|Sub-total of cash inflow due to investment activities|246,472,101.00|757,956,044.00|
|Cash paid for construction of fixed assets, intangible assets|||
||1,843,387,663.00|1,085,719,507.00|
|and other long-term assets|||
|Cash paid as investment|12,926,100.00|24,000,000.00|
|Net increase of loan against pledge|||
|Net cash received from subsidiaries and other operational|||
|units|||
|Other cash paid for investment activities||150,000.00|
|Sub-total of cash outflow due to investment activities|1,856,313,763.00|1,109,869,507.00|
|Net cash flow generated by investment|-1,609,841,662.00|-351,913,463.00|
|III.Cash flow generated by financing|||

||||
|-|-|-|
|Cash received as investment|30,000,000.00|42,000,000.00|
|Incl: Cash received as investment from minor shareholders|30,000,000.00|42,000,000.00|
|Cash received as loans|13,051,747,796.00|13,518,405,946.00|
|Cash received from bond placing|||
|Other financing –related ash received|||
|Sub-total of cash inflow from financing activities|13,081,747,796.00|13,560,405,946.00|
|Cash to repay debts|12,360,309,069.00|14,125,818,695.00|
|Cash paid as dividend, profit, or interests|2,878,919,825.00|1,612,454,756.00|
|Incl: Dividend and profit paid by subsidiaries to minor|||
||1,171,005,593.00|320,442,690.00|
|shareholders|||
|Other cash paid for financing activities||5,691,659.00|
|Sub-total of cash outflow due to financing activities|15,239,228,894.00|15,743,965,110.00|
|Net cash flow generated by financing|-2,157,481,098.00|-2,183,559,164.00|
|IV. Influence of exchange rate alternation on cash and cash|||
|equivalents|||
|V.Net increase of cash and cash equivalents|766,807,151.00|2,787,818,234.00|
|Add: balance of cash and cash equivalents at the beginning of|||
||4,377,311,176.00|2,813,898,537.00|
|term|||
|VI.Balance of cash and cash equivalents at the end of term|5,144,118,327.00|5,601,716,771.00|

 Legal representative：Pan Li Person-in-charge of the accountingwork：Li Xiaoqing Person-in -charge of the accountingorgan：Qin Jingdong 6. Cash flow statement of the Parent Company
Preparedby：Guangdong Electric Power Development Co., Ltd.
In RMB
||||
|-|-|-|
|Items|Report period|Same period of the previous year|
|I.Cash flows from operating activities|||
|Cash received from sales of goods or rending of services|1,487,034,175.00|1,724,451,124.00|
|Tax returned|||
|Other cash received from business operation|26,812,959.00|52,590,539.00|
|Sub-total of cash inflow|1,513,847,134.00|1,777,041,663.00|
|Cash paid for purchasing of merchandise and services|758,970,126.00|1,112,888,534.00|
|Cash paid to staffs or paid for staffs|155,959,256.00|163,137,690.00|
|Taxes paid|84,282,692.00|112,610,103.00|
|Other cash paid for business activities|54,247,259.00|49,545,061.00|
|Sub-total of cash outflow from business activities|1,053,459,333.00|1,438,181,388.00|

||||
|-|-|-|
|Cash flow generated by business operation, net|460,387,801.00|338,860,275.00|
|II.Cash flow generated by investing|||
|Cash received from investment retrieving|345,095,391.00|366,200,000.00|
|Cash received as investment gains|2,000,266,130.00|671,864,697.00|
|Net cash retrieved from disposal of fixed assets, intangible|||
||637,415.00|9,746,181.00|
|assets, and other long-term assets|||
|Net cash received from disposal of subsidiaries or other|||
|operational units|||
|Other cash receivable for investment activities||422,451,302.00|
|Sub-total of cash inflow due to investment activities|2,345,998,936.00|1,470,262,180.00|
|Cash paid for construction of fixed assets, intangible assets|||
||104,340,140.00|90,348,412.00|
|and other long-term assets|||
|Cash paid as investment|642,776,100.00|610,000,000.00|
|Net cash received from subsidiaries and other operational|||
|units|||
|Other cash paid for investment activities|||
|Sub-total of cash outflow due to investment activities|747,116,240.00|700,348,412.00|
|Net cash flow generated by investment|1,598,882,696.00|769,913,768.00|
|III.Cash flow generated by financing|||
|Cash received from capital contributions|||
|Cash received as loans|1,350,000,000.00|3,011,000,000.00|
|Cash received from bond placing|||
|Other financing –related ash received|||
|Sub-total of cash inflow from financing activities|1,350,000,000.00|3,011,000,000.00|
|Cash to repay debts|1,850,000,000.00|2,834,100,000.00|
|Cash paid as dividend, profit, or interests|1,182,014,830.00|506,907,377.00|
|Other cash paid for financing activities||9,432,397.00|
|Sub-total of cash outflow due to financing activities|3,032,014,830.00|3,350,439,774.00|
|Net cash flow generated by financing|-1,682,014,830.00|-339,439,774.00|
|IV. Influence of exchange rate alternation on cash and cash|||
|equivalents|||
|V.Net increase of cash and cash equivalents|377,255,667.00|769,334,269.00|
|Add: balance of cash and cash equivalents at the beginning of|||
||296,476,854.00|333,626,540.00|
|term|||
|VI.Balance of cash and cash equivalents at the end of term|673,732,521.00|1,102,960,809.00|

Legal representative：Pan Li Person-in-charge of the accountingwork：Li Xiaoqing Person-in -charge of the accountingorgan：Qin Jingdong 7. Consolidated Statement on Change inOwners’ Equity
Preparedby：Guangdong Electric Power Development Co., Ltd.
Report period
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Report period||||||||||
||Owner’s equity Attributable to the Parent Company||||||||||
|||||||Commo|||Minor|Total of|
|Items|||||||||||
||||Less:|Speciali|||Attribut||||
||Share|Capital|||Surplus|n risk|||sharehold|owners’|
||||Shares|zed|||able|Other|||
||Capital|reserves|||reserves|provisio|||ers’ equity|equity|
||||in stock|reserve|||profit||||
|||||||n|||||
||4,375,2||||4,203,5||||||
|||5,044,71|||||5,431,38||6,537,756|25,592,670|
|I.Balance at the end of last year|36,655.||||71,276.||||||
|||8,726.00|||||7,393.00||,802.00|,852.00|
||00||||00||||||
|Add: Change of accounting|||||||||||
|policy|||||||||||
|Correcting of previous errors|||||||||||
|Other|||||||||||
||4,375,2||||4,203,5||||||
|II.Balance at the beginning of||5,044,71|||||5,431,38||6,537,756|25,592,670|
||36,655.||||71,276.||||||
|current year||8,726.00|||||7,393.00||,802.00|,852.00|
||00||||00||||||
|||-8,823,3|||607,332||162,081,||-462,587,|298,002,16|
|III.Changed in the current year|||||||||||
|||13.00|||,089.00||126.00||738.00|4.00|
||||||||1,644,46||678,417,8|2,322,878,|
|（I） Net profit|||||||||||
||||||||0,546.00||54.00|400.00|
|||-8,823,3||||||||-8,823,313.|
|（II）Other misc.income|||||||||||
|||13.00||||||||00|
|||-8,823,3|||||1,644,46||678,417,8|2,314,055,|
|Total of (I) and (II)|||||||||||
|||13.00|||||0,546.00||54.00|087.00|
|(III) Investment or decreasing|||||||||30,000,00|30,000,000|
|of capital by owners|||||||||0.00|.00|
|1. Capital inputted by owners|||||||||||
|2．Amount of shares paid and|||||||||||
|accounted as owners’ equity|||||||||||
|3. Other|||||||||||
||||||||-1,482,3||||
||||||607,332||||-1,171,00|-2,046,052,|
|（IV）Profit allotment|||||||79,420.0||||
||||||,089.00||||5,592.00|923.00|
||||||||0||||

||||||||
|-|-|-|-|-|-|-|
||||607,332|-607,33|||
|1.Providing of surplus reserves|||||||
||||,089.00|2,089.00|||
|2.Providing of common risk|||||||
|provisions|||||||
|3．Allotment to the owners (or||||-875,04|-1,171,00|-2,046,052,|
|shareholders)||||7,331.00|5,592.00|923.00|
|4．Other|||||||
|(V) 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|||||||
||4,375,2||4,810,9|||25,890,673,016.00|
|IV. Balance at the end of this||5,035,89||5,593,46|6,075,169||
||36,655.||03,365.||||
|term||5,413.00||8,519.00|,064.00||
||00||00||||

Amount of the previous term
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||Amount of the previous term||||||||||
||Owner’s equity Attributable to the Parent Company||||||||||
|||||||Commo|||Minor|Total of|
|Items|||||||||||
||||Less:|Speciali|||Attribut||||
||Share|Capital|||Surplus|n risk|||sharehold|owners’|
||||Shares|zed|||able|Other|||
||Capital|reserves|||reserves|provisio|||ers’ equity|equity|
||||in stock|reserve|||profit||||
|||||||n|||||
||4,375,2||||3,955,5||||||
|||5,025,28|||||2,899,22||5,719,434|21,974,756|
|I.Balance at the end of last year|36,655.||||68,618.||||||
|||9,056.00|||||7,999.00||,200.00|,528.00|
||00||||00||||||
|Add：Retrospective adjustment|||||||||||
|caused by merger of entities|||||||||||
|under common control|||||||||||
|Add: Change of accounting|||||||||||

||||||||
|-|-|-|-|-|-|-|
|policy|||||||
|Correcting of previous errors|||||||
|Other|||||||
||4,375,2||3,955,5||||
|II.Balance at the beginning of||5,025,28||2,899,22|5,719,434|21,974,756|
||36,655.||68,618.||||
|current year||9,056.00||7,999.00|,200.00|,528.00|
||00||00||||
|||19,429,6|248,002|2,532,15|818,322,6|3,617,914,|
|III.Changed in the current year|||||||
|||70.00|,658.00|9,394.00|02.00|324.00|
|||||3,086,42|1,256,830|4,343,258,|
|（I） Net profit|||||||
|||||8,618.00|,371.00|989.00|
|||24,053,5||||24,053,567|
|（II）Other misc.income|||||||
|||67.00||||.00|
|||24,053,5||3,086,42|1,256,830|4,367,312,|
|Total of (I) and (II)|||||||
|||67.00||8,618.00|,371.00|556.00|
|(III) Investment or decreasing||-16,135,|||-23,542,4|-39,677,91|
|of capital by owners||443.00|||76.00|9.00|
|||-2,004,4|||48,521,21|46,516,758|
|1. Capital inputted by owners|||||||
|||52.00|||0.00|.00|
|2．Amount of shares paid and|||||||
|accounted as owners’ equity|||||||
|||-14,130,|||-72,063,6|-86,194,67|
|3. Other|||||||
|||991.00|||86.00|7.00|
||||248,002|-554,26|-414,965,|-721,231,8|
|（IV）Profit allotment|||||||
||||,658.00|9,224.00|293.00|59.00|
||||248,002|-248,00|||
|1.Providing of surplus reserves|||||||
||||,658.00|2,658.00|||
|2.Providing of common risk|||||||
|provisions|||||||
|3．Allotment to the owners (or||||-306,26|-414,965,|-721,231,8|
|shareholders)||||6,566.00|293.00|59.00|
|4．Other|||||||
|(V) 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|||||||
|||11,511,5||||11,511,546|
|（VII）Other|||||||
|||46.00||||.00|
|IV. Balance at the end of thisterm|4,375,2||4,203,5||6,537,756,802.00||
|||5,044,71||5,431,38||25,592,670|
||36,655.||71,276.||||
|||8,726.00||7,393.00||,852.00|
||00||00||||

Legal representative：Pan Li Person-in-charge of the accountingwork：Li Xiaoqing Person-in -charge of the accountingorgan：Qin Jingdong 8. Statement of change inowner’s Equity of the Parent Company
Preparedby：Guangdong Electric Power Development Co., Ltd.
Amount of the Current term
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Amount of the Current term||||||||
||||Less:|||Common||Total of|
|Items|Share|Capital||Specialized|Surplus||Attributabl||
||||Shares in|||risk||owners’|
||Capital|reserves||reserve|reserves||e profit||
||||stock|||provision||equity|
||4,375,236,655.00|5,653,424,|||4,203,571,||2,961,717,|17,193,949|
|I.Balance at the end of last year|||||||||
|||648.00|||276.00||216.00|,795.00|
|Add: Change of accounting|||||||||
|policy|||||||||
|Correcting of previous errors|||||||||
|Other|||||||||
|II.Balance at the beginning of|4,375,236,|5,653,424,|||4,203,571,||2,961,717,|17,193,949|
|current year|655.00|648.00|||276.00||216.00|,795.00|
|||-8,823,313.|||607,332,08||768,957,30|1,367,466,|
|III.Changed in the current year|||||||||
|||00|||9.00||5.00|081.00|
||||||||2,251,336,|2,251,336,|
|（I） Net profit|||||||||
||||||||725.00|725.00|
|||-8,823,313.||||||-8,823,313.|
|（II）Other misc.income|||||||||
|||00||||||00|
|||-8,823,313.|||||2,251,336,|2,242,513,|
|Total of (I) and (II)|||||||||
|||00|||||725.00|412.00|
|(III) Investment or decreasing of|||||||||

|||||||
|-|-|-|-|-|-|
|capital by owners||||||
|1. Capital inputted by owners||||||
|2．Amount of shares paid and||||||
|accounted as owners’ equity||||||
|3. Other||||||
||||607,332,08|-1,482,379,|-875,047,3|
|（IV）Profit allotment||||||
||||9.00|420.00|31.00|
||||607,332,08|-607,332,0||
|1.Providing of surplus reserves|||||0.00|
||||9.00|89.00||
|2.Providing of common risk||||||
|provisions||||||
|3．Allotment to the owners (or||||-875,047,3|-875,047,3|
|shareholders)||||31.00|31.00|
|4．Other||||||
|(V) Internal transferring of||||||
|owners’ equity||||||
|1. Capitalizing of capital reserves||||||
|(or to capital shares)||||||
|2. Capitalizing of surplus||||||
|reserves (or to capital shares)||||||
|3．Making up losses by surplus||||||
|reserves.||||||
|4. Other||||||
|(VI) Special reserves||||||
|1. Provided this year||||||
|2．Used this term||||||
|（VII）Other||||||
|IV. Balance at the end of this|4,375,236,|5,644,601,|4,810,903,|3,730,674,|18,561,415,876.00|
|term|655.00|335.00|365.00|521.00||

 Amount of the previous term
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Amount of the previous term||||||||
||||Less:|||Common||Total of|
|Items|Share|Capital||Specialize|Surplus||Attributabl||
||||Shares in|||risk||owners’|
||Capital|reserves||d reserve|reserves||e profit||
||||stock|||provision||equity|
||4,375,236,|5,617,859,|||3,955,568,||1,780,751,|15,729,416|
|I.Balance at the end of last year|||||||||
||655.00|535.00|||618.00||901.00|,709.00|

|||||||
|-|-|-|-|-|-|
|Add: Change of accounting||||||
|policy||||||
|Correcting of previous errors||||||
|Other||||||
|II.Balance at the beginning of|4,375,236,|5,617,859,|3,955,568,|1,780,751,|15,729,416|
|current year|655.00|535.00|618.00|901.00|,709.00|
|||35,565,113|248,002,65|1,180,965,|1,464,533,|
|III.Changed in the current year||||||
|||.00|8.00|315.00|086.00|
|||||1,735,234,|1,735,234,|
|（I） Net profit||||||
|||||539.00|539.00|
|||24,053,567|||24,053,567|
|（II）Other misc.income||||||
|||.00|||.00|
|||24,053,567||1,735,234,|1,759,288,|
|Total of (I) and (II)||||||
|||.00||539.00|106.00|
|(III) Investment or decreasing of||||||
|capital by owners||||||
|1. Capital inputted by owners||||||
|2．Amount of shares paid and||||||
|accounted as owners’ equity||||||
|3. Other||||||
||||248,002,65|-554,269,2|-306,266,5|
|（IV）Profit allotment||||||
||||8.00|24.00|66.00|
||||248,002,65|-248,002,6||
|1.Providing of surplus reserves||||||
||||8.00|58.00||
|2.Providing of common risk||||||
|provisions||||||
|3．Allotment to the owners (or||||-306,266,5|-306,266,5|
|shareholders)||||66.00|66.00|
|4．Other||||||
|(V) 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||||||
|||11,511,546|||11,511,546|
|（VII）Other||||||
|||.00|||.00|
|IV. Balance at the end of this|4,375,236,|5,653,424,|4,203,571,|2,961,717,|17,193,949|
|term|655.00|648.00|276.00|216.00|,795.00|

 Legal representative：Pan Li Person-in-charge of the accountingwork：Li Xiaoqing Person-in -charge of the accountingorgan：Qin JingdongIII．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.
In 2001, prusuant to the approval on the implementation Plan of GuangdongProvince’s Reform of power industry structure Relating to Restructuring of Generation and Transmission Assets, a document issued by Guangdong Provincial Government and referred to as Yue Fu Han 2001 No.252, Guangdong Electric Power Holding Co.( “GPHC”), 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 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 con vention of the restricted period ranging from 1-3 years.
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. Guangdong Yudean Group Group Co., Ltd used the60% shares of Shenzhen Guangqian Electric Power GenerationCompany。（”HuizhouPinghai”）,40% share3s of Guangdong Red Bay Electric Power Co., Ltd.(“ Red Bay Electric”),20% shares of Guangdong Guohua Yudean Taishan Generation Company.(“ Guohua Taishan”) and15% shares of Guangdong Electric Fuel Supply Co., Ltd.( “ Fuel Supply”) (all above collectively referred to as “ Targeted Assets “) to buy the dom Power Holding Co., (“Guangqian Electric”) ,35% shares of Guangdong Huizhou LNG Power Co., Ltd.(“ Huizhou LNG”),40% Shares shares of Guangdong Yudean Shibeishan Wind Power Co., Ltd.(“ Shibeishan”),45% shares of Guangdong Huizhou Pinghai estic listed ordinary shares ( A share) of Guangdong Yudean Group Co., Ltd. after the non-tradable share offering the stock shares which were owned by Yudean Increased from48.99% to67.39%.
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.
IV．Principal accounting policies, accounting estimates and early errors
1.Basis for the preparation of financial statements
The interim financial statements were prepared according to the requirements of No. 32 Accounting Standard for Business Enterprises - Interim Financial Report promulgated by Ministry of Finance of the People's Republic of China (hereinafter referred to as "Ministry of Finance") and No. 3 Standard for Contents and Formats of
Information Disclosure of the Companies Publicly Issuing Securities - Contents and Formats of Semiannual Report promulgated by China Securities Regulatory Commission (hereinafter referred to as "CSRC") (revision in 2007). The accounting policies used for preparing the interim financial statements are the same with those used for preparing the financial statements for the previous year. According to No.32 Accounting Standard for Business Enterprises -- Interim Financial Report, the notes to interim financial statements were appropriately simplified as
compared with the notes to yearly financial statements.
2.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, 2014 as well as the business performance and cash flow situation in the first half of 2014 of the Company frankly and completely.
3. 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, 2014 to 6 months ended June 3 0,
4. Accounting standard money
The Company takes RMB as the standard currency for bookkeeping.
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.Transaction costs incurred from the issuance of equity securities or debt securities for the combination are included in the initial costs of equity securities or debt securities.Other costs directly attributable to the combination are recognised in profit or loss for the current period.
(2) Business combinations involving enterprises not 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. 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. theacquirer’s interest in the fair value at the acquisition date of theacquiree’s identifiable net assets, the difference is recognised as goodwill. 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.
6.Preparation of consolidated financial statements
（1）Preparation of consolidated financial statements
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 an enterprise so as to obtain benefits from its operating activities. 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.
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. In the preparation of the consolidated financial statements, thesubsidiary’s assets and liabilities based on their carrying amounts are included in the consolidated balance sheet, and financial performance is included in the consolidated income statement, respectively, from the date that the ultimate parent company of the Company obtains the control of the subsidiary to be consolidated. Net profit realised before the combination date is listed in the consolidated income statements as a separate item.
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, base on the fair value of those identifiable assets and liabilities at the acquisition date.
Where the Company acquires a minority interest from asubsidiary’s minority shareholders, the difference between the amount by which the minority interests are 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.
Minority interest is presented separately in the consolidated balance sheet withinshareholders’ equity. Net profit or loss attributable to minority shareholders is presented separately in the consolidated income statement below the net profit line item. Comprehensive income attributable to minority shareholders is presented separately in the consolidated income statement below the total comprehensive income line item.
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.
7. Cash and cash equivalents
The cash listed in cash flow table refers to stored cash and payable deposit whenever, the term “ cash “ refers to cash on hand and deposits that are available for payment at any time. The term : cash equivalents” refers to short-term and highly liquid investments that are readily convertible to known amounts of cash and which are
subject to an insignificant risk of change in value.
8. Foreign currency Convert
（1）Foreign currency Transactions
When the Group receives capital in foreign currencies from investors, the capital is translated to RMB at the spot exchange rate at the date of the receipt. Other foreign currency transactions are, on initial recognition, translated to RMB at the spot exchange rates on the dates of the transactions.
A spot exchange rate is an exchange rate quoted by thePeople’s Bank of China.
(2)Foreign currency translation of financial statements
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, 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 comprise Financial assets , Financial liabilities and Equity instruments.
(1) Classification of financial instruments
Financial assets are classified into the following categories at initial recognition: financial assets at fair value through profit or low, receivables, available–for–sale financial assets and held-to-maturity investments. The classification of financial assets depends on theGroup’s intention and ability to hold the financial assets. In the report period, other than receivables and available-for–sale financial assets, the Group did not hold any financial assets in other categories.
Account receivables
Account receivables, including accounts receivable and other receivables, are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market.
Available-for-sale financial assets
Available-for-sale financial assets are non-deriative financial assets that are either designated in this category or not classified in any of the other categories at initial recognition. Available-for–sale financial assets are included in other current assets in the balance sheet if management intends to dispose of them within 12 months of the balance sheet date.
Financial liabilities are classified into the following categories at initial recognition: the financial liabilities at fair value through profit or loss and other financial liabilities, During 2013, The financial liabilities in the Group mainly comprise other financial liabilities, including payables and lorrowings.
Other Financial liabilities are classified as the current liabilities if thety mature within one year (one year included); others are classified as Non- current liabilities; Non- current liabilities due for repayment within one year since the balance sheet day are classified as current portion of non-current liabilities.
Equity instrument refers to the contract that can prove the ownership of the residual equity of the assets after deduction of all liabilities.
After deduction of transaction cost, the consideration received by the Company through issue of equity instrument is accounted for as owner's equity. The consideration and transaction cost paid for repurchase of the Company's equity instruments decreases owner's equity. By June 30, 2014, the Group had not issued other equity instruments except share capital.
（2）Measurement of financial assets
Financial assets are recognized at fair value on the balance sheet when the Group becomes a party to the contractual provisions of the financial instrument, for receivables and available-for-sale financial assets, transaction costs that are attributable to the acquisition of the financial assets are included in the their initial recognition amounts
Financial assets at fair value through profit or loss and available-for-sale financial assets are subsequently measured at fair value. Investments in equity instruments are measured at cost when they do not have a quoted market price in an active market and whose air value cannot be reliably measured. Receivables are measured at amortised cost using the effective interest methord.
Again or loss arising from a change in fair value of an available-for-sale financial asset is recognized directly in equity , except for impairment lossets and foreign exchange gains and losses arising from the translation of monetary financial assets. When such financial asset is derecognized, the cumulative gain or loss previously recognized in equity is recognized in profit or loss for the current peiod, Interests on available-for–sale investments in debt instruments calculated using the effective interest method during the period in which such investments are held and cash dividends declared by the investee on available-for–sale investments in equity instruments are recognized as investment income in profit or loss.
Payables comprise accounts payable and other payables, which are recognized initially at fair value and measured subsequently at amortised cost using the effective interest method.
Borrowings are recognized initially at fair value, net of transaction costs incurrend, and subsequently carried at amortised costs using the effective interest methor.
（3）Recognition basis and measurement for transferred financial assets
Financial assets are derecognized when:i) the contractual arights to receive the cash flows from the financial assets have expired; or ii) all substantial risks and rewards of ownership of the financial assets have been transferred; or iii) the control over the financial asset has been waived even if the Group does not transfer or retain nearly all of the risks and rewards relating to the ownership of a financial assets.
On derecognition of a financial assets, the difference between the carrying amount and the aggregate of consideration received and the accumulative amount of the changes of fair value originally recorded in theowner’s equity is recognized in profit or loss.
（4）Financial Liabilities
A financial liability is derecognized when and only when the obligation specified in the contrat is discharged or cancelled. The difference between the carrying amount of a financial liability extinguished and the consideration paid is recognized in profit of loss.
（5）The determination method for fair value of financial assets and financial liabilities
The fair value of a financial instrument that is traded in an active market is determined at the quoted price in the active market. The fair value of a financial instrument for which the market Is not active is determined by using a valuation technique. Valuation techniques include using prices of recent market transactions between knowledgeable, willing parties, reference to the current fair value of another financial asset that is substantially the same with this instrument, and discounted cash flow analysis. When avaluation technique is used to establish the fair value of a financial instrument, use market data as much as possible and avoid use of data that is particularly reated to the Group .
（6）Providing of impairment provision on financial assets (exclude receivable accounts)
The Group assesses at the balance sheet date the book value of financial assets. If there is any objective evidence that a financial asset is impaired, the Group provides for such impairment losses.
The objective evidences that show the impairment of equity instrument investment available for sales include serious or non-temporary decline of the fair value of equity instrument investment. The Group separately checks all equity instrument investments available for sales on balance sheet day. If the fair value of an equity instrument investment on balance sheet day is lower than its initial investment cost by over50% (including50%) or for over one year (including one year), its impairment will be demonstrated. If the fair value of an equity instrument investment on balance sheet day is lower than its initial investment cost by over20% (including20%) but less than50%, the Group will judge whether the impairment of equity instrument investment occurs based on
comprehensive consideration of other relevant factors such as price fluctuation rate.
When impairment of financial assets calculated by cost after amortization occurs, provision for impairment shall be made for the difference between their present value and their book value according to expected future cash flow (not including future credit loss that has not happened). If objective evidences demonstrate the recovery of the value of a financial asset and are objectively related to the matters occurred after the recognition of such loss, the recognized impairment loss shall be written back and accounted for as profits or losses for current period. When impairment of financial assets available for sale occurs, the aggregate losses formed due to decline of fair value directly accounted for as shareholders' equity shall be transferred out and accounted for as impairment loss. If the fair value of a debt instrument investment available for sales for which impairment loss has been recognized rises after balance sheet day and it is objectively related to the matters occurred after the recognition of original impairment loss, the recognized impairment loss shall be written back and accounted for as profits or losses for current period. For the equity instrument investment available for sales for which impairment loss has been recognized, the fair value increased after balance sheet day shall be directly accounted for as shareholders' equity. 10. Recognition standard and providing basis of bad debt provision on receivable accounts
Account receivables comprise accounts receivable and other receivables. Accounts receivable arising from sale of Goods or rendering of services are initially recognized at fair value of the contractual payments from the buyer. Bad debt recognition criterion
For all receivables, separately perform impairment testing. When objective evidence indicates the Groupcan’t
receive money according original terms, provision for bad debts recognized .
Bad debts provision method
The bad debt will be recognized when the present value of estimated future cash flow below their
book value.
（1）Bad debt provision on receivable accounts with major amount individually
|||
|-|-|
||The Company and its subsidiaries, or other|
||receivables or all long-term receivables of more|
|Criteria and norm of individual significance||
||than RMB 5 million in the financial statements of|
||the Company and its subsidiaries.|
||The Group tests such receivables for impairment on|
||an individual basis. For individually insignificant|
|Measurement of impairment allowances for receivables of individual||
||receivables, the Group tests them for impairment on|
|significance||
||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
Stock delivered is measured according to weighted average method. 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.
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.
Any excess of the cost over the net realisable value of inventories is recognised as a provision for diminution in the value of inventories, and is recognised in profit or loss.
（4）Inventory system
Perpetual inventory
The group adopts perpetual inventory system.
（5）Amortization method of consumption goods with low value and wrap page
Consumption goods with low value
Consumption goods with low value adopt one time amortization method when used.
Packing
Wrappage：Wrap page adopts one time amortization when used
12.Long-term equity investment
（1）Investment cost confirmation
Long-term equity investments comprise theCompany’s long-term equity investmentsin its subsidiaries, theGroup’s long-term equity investments in its associates as well as the long-term equity investment where the Group does not have control, joint control or significant influence over the investees, and which are not a quoted in an active market and whose fair value cannot be reliable measured. Subsidiaries are all investees the which the Company is able to control; associates areal investees that the Group has significant influence on their financial and operating policies. Investments in subsidiaries are measured using the cost method in theCompany’s financial statements, and adjusted using the equity method when preparing the consolidated financial statements; investments in associates are accounted for using the equity method; other long-term equity investments there the Group does not have control, joint control or significant influence over the investee, and which are not quoted in an active market and whose fair vale cannot be relably measured are accounted for using the cost method. The long-term equity investment formed in the merger of an enterprise: for the long-term equity investment arising from the merger of enterprises under the same control, it shall, on the date of merger, regard the share of the book value of theowner’s equity of the merged enterprise as the cost of investment; for the long-term equity investment arising from the merger of enterprises under the different control, it shall regard the merger costs as the long-term equity investment costs. The long-term equity investment obtained by other means besides by the merger of enterprises: for the long-term equity investment obtained by making payment in cash, it shall regard the purchase cost actually paid as the initial investment cost; for the long-term equity investment obtained on the basis of issuing equity securities, it shall regard the fair value of the equity securities issued as the initial investment cost.
（2）Rear measuring and profit and loss confirmation method
For long-term equity investments accounted for using the cost method, investment income is recognized in profit or loss for the cash dividends or profit declared by the investee.The long-term equity investment measured by employing the equity method: for the initial cost is more than the investingenterprise’ attributable share of the fair value of the investedentity’s identifiable net assets for the investment, it shall regard the long-term equity investment cost as the initial investment cost; for the initial cost is less than the investingenterprise’ attributable share of the fair value of the investedentity’s identifiable net assets for the investment, the difference shall be included in the current profits and losses and the cost of the long-term equity investment shall be adjusted correspondingly. When using the equity method of accounting, the Group recognized the investment income based on its share of net profit or loss of the investee. The Group discontinues recognizing its share of net losses of an investee after the carrying amount of the long-term equty investment together with any long-term interests that, in substance, form part of theinvestor’s net investment in the investee are reduced to zero. However, if the Group has obligations for additional losset and the conditions on recognition of provision are satisfied in accordance with the accounting standards on contingencies, the Group continues to recognize the investment losses and the provision. For changes inowner’s equity of the investee other than those arising form its net profit or loss, the Group record directly in capital surplus its proportion, provided that theGroup’s proportion of shareholding in the investee remains unchanged . the carrying amount of the investment is reduced by the Group
‘s share of the profit or cash dividends declared by and investee. The unrealized profits or losses arising from the intra-group transactions between the Group and its investees are eliminated to the extent of theGroup’s interest in the investees, on the basis of which the investment gain or losses are recognized.The loss on the intra-group transaction between the Group and its investees, of which the nature is asset impairment , is recognized in full amount, and the relevant unrealized gain or loss is not allowed to be eliminated.
（3）Confirm the basis that has common control and major infection upon invested unit.
Control means that the investor has the power to govern the financial and operating policies so as to obtain benefits from their operating activities. The existence and effect of potential voting rights (including that derived from the convertible boods and warrants that are currently convertible or exercisable ) are considered to determine whether the Group has control over the investee.
Joint control means that the investor has contractual obligation to control a certain economic activity, while such control only exists when the significant financial and operating policies relating to that activing are agreed upon by all investors sharing that control. Significant influence means that the investor has the right to participate in the determination of theinvestee’s financial and operating policies, but cannot control or joint control with other parties on the determination of these policies.
（4）Depreciation testing method and depreciation reserve withdrawal method.
The carrying amount of long-term equity investments in subsidiaries and associates isreduced to the recoverable amount when the recoverable amount is less than the carrying amount . When the long-term investments which are not quoted in an active market and whose fair value cannot be reliable measured have impaiment, the impairment loss is recognized at the differences between carrying amounts and the present value of future cash flow discounted using the prevailing market returmn rate on similar financial assets. Once the impairment loss is recognized, it is not allowed to be reversed for the value recovered in the subsequent periods.
13.Investment property
Investment property, including buildings that held for the purpose of lease and leased land use right, is measured initially at cost. Subsequent expensitures incurred for and investment property is included in the cost of the investmentproperty when it is probable that economic benefits associated with the investment property will flow to the Group and its cost can be reliable measured, otherwise the expenditure is recognized in profit or loss in the period in thich they are incurred.
The Group adopts the cost model for subsequent measurement of the investment property. Buildings and lond use rights are depreciated or amortised to their estimated net residual values over their estimated useful lives. The estimated useful luves, the estimated net residual values expressed as a percentage of cost and the annual depreciation rates of the investment properties are 30-40 year5% and2.32-3.17% respectively.
When an investment property is changed to an owner-occupied property, it is transferred to fixed asset at the date of the change. When an owner-occupied property is changed to be held to earn rentals or for capital appreciation, the fixed asset is transferred to investment property at the date of the change at the carrying amount of the property. The estimated useful life, net residual value of the investment property and the depreciation method applied are reviewed, and adjusted as appropriate at each financial year-end.
An investment property is derecognized on disposal or when the investment property is permanently withdrawn from use and no future economic benefits are expected from its disposal. The amount of proceeds on sale, transfer, retirement or damage of an investment property less its carrying amount and related taxes and expenses is recognized in profit or loss for the current period.
When the recoverable amount of investment real estate less than its carrying value, book value is reduced to its recoverable amount .
14. Fixed assets
（1）Confirmation conditions of fixed assets
Fixed assets comprise buildings, electric utilities in service, motor vehicles and other equipments.
A fixed asset is recongnized when it is probable that the economic benefits associated with the fixed assets will flow to the Group and its cost can be reliably measured. Fixed assets purchased or constructed by the Group are initially measured at cost at the time of acquisition. Fixed assets contributed by the State-owned shareholders at the incorporation of a limited company are initially recorded at the valuation amount recognized by the State-owned assets supervision and administration department. Subsequent expenditures incurred for a fixed asset are included in the cost of the fixed asset when it is probable that the economic benefits associated with the fixed asset will flow to the Group and its cost can be reliably measured. The carrying amount of those parts that are replaced is derecognized and all the other subsequent expenditures are recognized in profit or loss in the period in which they are incurred.
（2）Cognizance evidence and pricing method of financial leasing fixed assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. For the fixed assets acquired under finance leases, the company takes less of the fair value of the leased asset and the present value of the minimum lease payments as recorded value of leased assets. The difference between the recorded value of leased assets and the minimum lease payments shall be regarded as the unrecognized financial expenses.The depreciation policy adopted for the fixed assets acquired under finance leases should be the same as that of own fixed assets. For the ownership of leased assets reasonably determined and obtained in the expiry of lease period, the fixed assets acquired under leases shall be recognized the depreciation within its expected use life; otherwise, the shorter of the leases period and the expected use life is recognized the depreciation.
（3）Fixed assets depreciation method
The cost of fixed asset, less its estimated residual value and accumulated impairment losses, is depreciated using the straight-line method over its estimated useful life, unless the fixed asset is classified as held for sale.
The estimated useful lives, residual value rates and depreciation rates of each class of fixed assets are as follows: Class Estimated useful life Residual valuerate(%) Depreciationrate(%)
House and Building 10 - 35 years 0 -10% 2.57% -10.00%
Electric utilities in service 8 - 18 years 0 -10% 5.00% -12.50%
Transportation equipment 8 - 10 years 0 -10% 9.00% -12.50%
Other equipment 5 - 25 years 0 -10% 3.60% -20.00%
Useful lives, estimated residual value and depreciation methods are reviewed at least at each year-end.
（4）Depreciation measuring method and depreciation reserves withdrawn method of fixed assets
When the recoverable amount of investment real estate less than its carrying value, book value is reduced to its recoverable amount.
（5）Other
Fixed assets disposal
A fixed asset is derecognized on disposal or when no future economic benefits are expected from its use or disposal. The amount of proceeds on sale, transfer, retirement or damage of a fixed asset net of its carrying amount and related taxes and expenses is recognized in profit or loss for the current period.
15.Construction in progress
（1）Categories of projects un
Construction in progress is measured at actual cost. Actual cost comprises construction costs, installation cost, borrowing costs that are eligible for capitalization and other costs necessary to bring the fixed assets ready for their intended use. Actual cost also consists of the net amount of revenue generated and expenses that incurred in the text running period.
（2）Standard and timing for transferring of projects under construction to fixed assets
Construction in progress is transferred to fixed assets when the assets are ready for their intended use, and depreciation begins from the following month.
（3）Impairment text and providing of impairment provisions on projects under construction
The carrying amount of construction in progress is reduced to the recoverable amount when the recoverable amount is less than the carrying amount
16. Borrowing cost
（1）Principle of the recognition of capitalized borrowing costs
The borrowing costs that are directly attributable to the acquisition and construction of a fixed asset that needs a substantially long period of time of acquisition and construction for its intended use commence to be capitalized and recorded as part of the cost of the asset when expenditures for the asset and borrowing costs have been incurred, and the activities relating to the acquisition and construction that are necessary to prepare the asset for its intended use have commenced.
（2）Capitalizing period of borrowing expenses
During Capitalizing period of borrowing expenses the point in time stops the capital point, the moratorium on Cap italizing period of borrowing expenses are not included.
（3）Temporarily suspension of capitalizing period
If meet the capitalization conditions or non-normal breaks occurred in the course of production and the break time is more than three months, then the capitalization of borrowing costs shall be suspended; when the acquisition or construction or production meet the conditions of capitalization and achieve the predicted use or sale state, Asset acquisition or production activities began.
（4）Calculating of borrowing expense capitalizing
For a borrowing specific for the acquisition, construction or production activities for preparing an asset eligible for capitalization, the to-be-capitalized borrowing costs shall be determined according to the actual borrowing costs incurred less any income earned on the unused borrowing fund as a deposit in the bank or as a temporary investment.
17. Intangible assets
（1）Pricing of intangible assets
Intangible assets including land use rights, sea use rights, software and associated projects for electricity transmission and transformation 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 recognized by the state-owned assets supervision and administration department.
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.
（2）Estimation of service life of intangible assets with limited service life
For an intangible asset with a finite useful life, review and adjustment on useful life and amortization method are performed at each year-end.
||||
|-|-|-|
|Name|Expected useful life|Basis|
|Associated projects for electricity transmission|||
||10 years|Expected beneficial period|
|and transformation and microwave engineering|||
|Land use right|20-70 years|Useful life|
|Sea use right|50 years|Useful life|
|Transportation engineering.|10 – 20 years|Expected beneficial period|
|Concession contracts|10 – 25 years|Expected beneficial period|
|Software|2 – 10 years|Expected beneficial period|
|Non-p[atent technology|2 – 6 years|Expected beneficial period|

（3）Judgment based on indefinite life intangible assets
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.
（4）Provision for impairment of investment assets
The carrying amount of intangible assets is reduced to the recoverable amount when the recoverable amount is less than the carrying amount
18.Long-term deferred expenses
Long-term deferred expenses are amortised on a straight-line method within the benefit period.
19. Revenues
(1). Recognition time for sales of goods
The amount of revenue is determined in accordance with the fair value of the consideration received or receivable for the sale of goods and services in the ordinary course of theGroup’s activities. Revenue is shown net of value-added tax, rebates, discounts and returns. Revenue is recognised when the economic benefits associated with the transaction will flow to the Group, the relevant revenue can be reliably measured and specific revenue recognition criteria have been met for each of theGroup’s activities as described below:
(1)Sale of electricity and heat energy
Revenue is recognised upon transmission of electricity or heat energy.
Revenues of Certified Emission Reduction (CER)The Group sells the Certified Emission Reductions (“CERs”) of Carbon produced by the wind-power facilities which has been registered the Clean Development Mechanism (“CDM”) project by the United Nations Clean Development Mechanism Executive Board (“CDM EB”) according to the “Kyoto Protocol”.
The revenues related to CERs shall be confirmed under the following conditions:
— The other side has promised to purchase CERs;
— The parties have made the agreement for the sales price;
— The company has produced the relevant electricity;
The relevant CERs have got the United Nations certification.
（2）Incomes from transferring asset use right.
Interest income is recognised on a time-proportion basis, the cash at bank and on hand of the Group used by other parties, using the effective interest method.
Income from an operating lease is recognised on a straight-line basis over the period of the lease.
（3）Deciding of completion percentage when percentage basis is adopted to recognize income from service providings.
The Group provides service to external parties and determines the stage of completion based on proportion of costs incurred to date to the estimated total costs. Revenue is recognised using the percentage of completion method.
20. Governmental subsidy
（1）Categories
Government subsidy means the monetary or non-monetary assets obtained freely by an enterprise from the government, including tax returns, financial subsidies.
（2）Accounting treatment
The government subsidies pertinent to assets will be recognized as other non-current debt-deferred income, equally amortized within the useful lives of the relevant assets and recognized as profit and loss at the same time. The government subsidies measured at their nominal amounts will be directly recognized as profit and loss in the current period.
The government subsidies pertinent to incomes, those subsidies used for compensating related future expenses or losses will be recognized as deferred income and recognized as profit and loss during the period when the relevant expenses are recognized; those subsidies used for compensating related expenses or losses already existed will be directly recognized as income or cost in the current period.
21. Deferred income tax assets/Deferred income tax liability
（1）Confirmation of deferred income tax assets
Deferred tax assets and deferred tax liabilities are calculated and recognised based on the differences arising between the tax base of assets and liabilities and their carrying amount (temporary differences). Deferred tax asset is recognized for the deductible losses that can be carried forward to subsequent years for deduction of the taxable profit in accordance with the tax law. Deferred tax assets are only recognised for deductible temporary differences, deductible losses and tax credits to the extent that it is probable that taxable profit will be available in the future against which the deductible temporary differences, deductible losses and tax credits can be utilised. When it is probable that the temporary differences arising from investments in subsidiaries, joint ventures and associates will be reversed in the foreseeable future and that the taxable profit will be available in the future against which the temporary differences can be utilized, the corresponding deferred tax assets are recognized. (2) The confirmation of deferred income tax liability
Deferred tax assets and deferred tax liabilities are calculated and recognised based on the differences arising between the tax base of assets and liabilities and their carrying amount (temporary differences). No deferred tax liability is recognised for a temporary difference arising from the initial recognition of goodwill. No deferred tax asset or deferred tax liability is recognized for the temporary differences resulting from the initial recognition of
assets or liabilities due to a transaction other than a business combination, Deferred tax liabilities are recognised for temporary differences arising from investments in subsidiaries and associates, except where the Group is able to control the timing of the reversal of the temporary difference, and it is probable that the temporary difference will not reverse in the foreseeable future.
22.Operational leasing and Financing leasing
（1）Accounting of operational leasing
Afinance lease is a lease that transfers substantially all the risks and rewards incidental to ownership of an asset. An operating lease is a lease other than a finance lease.
Lease payments under and operating lease are recogrised on a straight-line basis over the period of the lease , and are either capitalized as part of the cost of related assets, or charged as an expense for the current period.
（2）Accounting treatment of financing leasing
The leased asset is recorded at the amounts equal to the lower of the fair valueof the leased asset and the present value of the minimum lease payments. The difference between the recorded amount of the leased asset asnd tht minimum lease payments is accounted for as unrecognized finance charge and is amortised using the effective interest method over the period of the lease. A long-term payable is recorded at the amount equal to the minimum lease payments less the unrecognized finance charge.
（3）Leaseback and Sells
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. A leaseback is considered to be a financing lease, so 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.
23.Change of main accounting policies and estimations
Is there any change in accounting policies in the report period
□ Yes√ No
V.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 VAT , after subtracting the deductible input|17% and 13%|
||VAT of the period, is VAT payable.||
|Business tax|Taxable turnover|5% and 3%|

||||
|-|-|-|
|City maintenance|||
||Value added tax and Business tax amount|5% and 7%|
|construction tax|||
|Enterprise income tax|Taxable income|0% and 25%|
|Education surtax|Value added tax and Business tax amount|3%|
|Local surcharge for|||
||Value added tax and Business tax amount|2%|
|Education|||

Income tax rate apply able to branches and factories
The corporate tax rate applicable to the Company and its subsidiaries was25%, with the exception of the
following subsidiaries: Guangdong Xuwen Wind Electric Power Co., Ltd.
2.Tax preferential and approval
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, it was exempted from paying corporate income tax in 2012,2013 and 2014.
In addition,50% of VAT levied on the sales of electricity generated by wind power of Shibeishan, Zhanjiang Wind Power, Xuwen Wind and Huilai Wind Power Co. Ltd. (“Huilai Wind”) will be refunded immediately in accordance with the Notice Concerning Policies on Value Added Tax on Products Made through Comprehensive Utilisation of Resources and Other Products (Cai Shui[2008] No.156).
VI. Enterprise consolidation and combined financial statements
1. Subsidiary
（1）Subsidiary obtained through establishment or investment
In RMB
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||Othe|||||Amo|After wrote|
|||||||||||W||||
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|||||||||||het||||
||||||||proje|||||used|current|
|||||||||||he||||
||||||||cts|||||to|period loss|
|||||||||||r||||
||||||||bala|||||write|of minority|
|||||||||||co||||
||||||||nce|||||dow|shareholder|
|||||||Actual||||ns||||
||||||||esse|Holdin|Propor||Interest|n|s over|
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||Subsid|Registrat|||||ntiall|g|tion of||of|lost|equity|
|Full name of|||Busine|Registered|Business|amoun||||dat||||
||iary|ion|||||y|propor|voting||minority|inclu|beginning|
|subsidiary|||ss|capital|scope|ts of||||io||||
||type|place|||||from|tion|rights(||sharehol|ded|share of|
|||||||the||||n||||
||||||||net|(%)|%)||der|in|minority|
|||||||end||||of||||
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|||||||||||po||||
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|||||||||||m||||
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||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||||||est|share ,Bala|
|||||||||||||nce of|
|||||||||||||Owner's|
|||||||||||||equity|
||||||Producti||||||||
||Limite||||on of||||||||
||d||||electric||||||||
|Maoming Zhenneng||||||594,08|||||||
||Liabili|Maomin||1,019,535,|power,||58.27|58.27||453,954|||
|Thermoelectric power|||Electric|||3,336.|||Ye||||
||ty|g||500|power||%|%||,552.00|||
|Co., Ltd||||||00|||s||||
||Comp||||station||||||||
||any||||construc||||||||
||||||tion||||||||
||||||Producti||||||||
||Limite||||on of||||||||
||d||||electric||||||||
|Guangdong Yudean||||||1,897,||||1,280,4|||
||Liabili|||2,919,272,|power,||65.00|65.00|Ye||||
|Jinghai Electric Power||Jieyang|Electric|||526,80||||74,960.|||
||ty|||000|power||%|%|s||||
|Development Co., Ltd.||||||0.00||||00|||
||Comp||||station||||||||
||any||||construc||||||||
||||||tion||||||||
||||||New||||||||
||Limite||||Energy||||||||
||d||||Develop||||||||
|||||||242,27|||||||
||Liabili|Zhanjian||346,110,0|ment and||70.00|60.00|Ye|116,514,|||
|Zhanjiang Wind Power|||Electric|||7,000.|||||||
||ty|g||00|Generatio||%|%|s|091.00|||
|||||||00|||||||
||Comp||||n of||||||||
||any||||Electricit||||||||
||||||y||||||||
||Limite||||Providing||||||||
||d||||repair||||||||
|Guangdong Yudean||||||20,000|||||||
||Liabili|Donggu||20,000,00|and||100.00|100.00|Ye||||
|Anxin Electric Power|||Electric|||,000.0|||||||
||ty|an||0|maintena||%|%|s||||
|Maintenance||||||0|||||||
||Comp||||nce||||||||
||any||||service||||||||
||||||Producti||||||||
||Limite||||on of||||||||
||d||||electric||||||||
|Guangdong Yudean||||||90,000|||||-106,||
||Liabili|Donggu||150,000,0|power,||60.00|60.00|Ye|56,248,|||
|Humen Electric Power|||Electric|||,000.0|||||534.||
||ty|an||00|power||%|%|s|446.00|||
|Co., Ltd||||||0|||||98||
||Comp||||station||||||||
||any||||construc||||||||
||||||tion||||||||

|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
||||||Coal Wh|||||||
||||||arf const|||||||
||||||ruction,|||||||
||||||power pl|||||||
||Limite|||||||||||
||||||ant const|||||||
||d|||||||||||
|Guangdong Yudean|||||ruction,|1,085,||||||
||Liabili|Maomin||1,085,000,|||100.00|100.00|Ye|||
|Bohe Coal-fired|||Electric||electricit|000,00||||||
||ty|g||000|||%|%|s|||
|Power Co., Ltd|||||y project|0.00||||||
||Comp|||||||||||
||||||s with te|||||||
||any|||||||||||
||||||chnical a|||||||
||||||dvice an|||||||
||||||d service|||||||
||||||s|||||||
||||||Construc|||||||
||||||tion,|||||||
||||||Investm|||||||
||||||ent and|||||||
||Limite||||Manage|||||||
|Guangdong Yudean|d||||ment of|||||||
|||||||78,000|||||-814,|
|Huadu Natural gas|Liabili|Guangzh||120,000,0|power||65.00|65.00|Ye|40,476,||
||||Electric|||,000.0|||||173.|
|Thermo power Co.,|ty|ou||00|plants||%|%|s|280.00||
|||||||0|||||10|
|Ltd.|Comp||||and|||||||
||any||||heating|||||||
||||||power|||||||
||||||pipeline|||||||
||||||network|||||||
||||||s|||||||
||||||Electrici|||||||
||||||ty|||||||
||Limite||||investme|||||||
||d||||nt ,Elect|||||||
|Guangdong Dapu||||||700,00||||||
||Liabili|||700,000,0|ricity||100.00|100.00|Ye|||
|Power Generation||Meizhou|Electric|||0,000.||||||
||ty|||00|Engineer||%|%|s|||
|Co., Ltd.||||||00||||||
||Comp||||ing|||||||
||any||||Technol|||||||
||||||ogy|||||||
||||||Service|||||||
||Limite||||Providin|||||||
|Zhanjiang Yuheng|d||||g repair|||||||
|||||||15,200||||||
|Electric Power|Liabili|Zhanjian||20,000,00|and||76.00|76.00|Ye|||
||||Electric|||,000.0||||||
|Maintenance and|ty|g||0|mainten||%|%|s|||
|||||||0||||||
|installation Co., ltd|Comp||||ance|||||||
||any||||service|||||||

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||||Producti|||||
||Limite||||on of|||||
||d||||electric|||||
|Guangdong Yudean||||||121,23||||
||Liabili|Zhanjian||173,190,0|power,||70.00|60.00|Ye|
|Xuwen Wind Power|||Electric|||3,000.||||
||ty|g||00|power||%|%|s|
|Co., Ltd||||||00||||
||Comp||||station|||||
||any||||construc|||||
||||||tion|||||
||||||Electric|||||
||||||Plant|||||
||||||Construc|||||
||Limite|||||||||
||||||tion ,|||||
||d|||||||||
|Guangdong Yudean|||||Electrici|14,000||||
||Liabili|Zhanjian||20,000,00|||70.00|60.00|Ye|
|Leizhou Wind Power|||Electric||ty|,000.0||||
||ty|g||0|||%|%|s|
|Co., Ltd.|||||Engineer|0||||
||Comp|||||||||
||||||ing|||||
||any|||||||||
||||||Technol|||||
||||||ogy|||||
||||||Service|||||
||||||Electric|||||
||||||Plant|||||
||||||Construc|||||
||Limite|||||||||
||||||tion ,|||||
||d|||||||||
||||||Electrici|121,87||||
|Guangdong Yudean|Liabili|Maomin||121,872,9|||100.00|100.00|Ye|
||||Electric||ty|2,900.||||
|Dianbai Wind Power|ty|g||00|||%|%|s|
||||||Engineer|00||||
||Comp|||||||||
||||||ing|||||
||any|||||||||
||||||Technol|||||
||||||ogy|||||
||||||Service|||||
||||||Operatio|||||
||Limite|||||||||
|Guangdong Yuejiang|||||n and m|||||
||d|||||||||
|Hongrui Electronic|||||aintenan|20,000||||
||Liabili|Shaogua||20,000,00|||90.00|90.00|Ye|
|Technology|||Electric||ce of po|,000.0||||
||ty|n||0|||%|%|s|
|Development Co.,|||||wer equi|0||||
||Comp|||||||||
|Ltd.|||||pment|||||
||any|||||||||
||||||||||Ye|
||||||||||s|

Other statements on Subsidiaries obtained through incorporation orinvestment：
Note a: The minority interest of Yuheng Power at year end was included in the minority interest of Zhanjiang
Electric at year end.
Note b: The minority interests of Xuwen Wind and Leizhou Wind Power at year end were included in the
minority interest of Zhanjiang Wind Power at year end.
（2）Subsidiaries procured through merger of entities under common control
In RMB
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||||||||After|
||||||||||||||wrote|
||||||||||||||down|
||||||||||||||current|
||||||||||||||period|
||||||||||||||loss of|
||||||||||||||minority|
||||||||||||||sharehol|
||||||||||||||ders|
|||||||||||||Amount|over|
||||||||Other|||||||
|||||||||||||used to|equity|
||||||||projects|||||||
|||||||||||||write|beginni|
||||||||balance|||||||
|||||||Actual|||Proporti|Whether|Interest|down|ng share|
|Full|||||||essential|Holding||||||
|||Registra||Register||capital|||on of|consolid|of|lost|of|
|name of|Subsidia||Busines||Busines||ly from|proporti||||||
|||tion||ed||amounts|||voting|ation of|minority|included|minority|
|subsidia|ry type||s||s scope||net|on||||||
|||place||capital||of|||rights(%|report|sharehol|in|sharehol|
|ry|||||||investm|(%)||||||
|||||||the end|||)|form|der|minority|ders in|
||||||||ent to|||||||
|||||||||||||sharehol|the|
||||||||subsidia|||||||
|||||||||||||der|subsidia|
||||||||ry|||||||
|||||||||||||interest|ry from|
||||||||||||||the|
||||||||||||||parent|
||||||||||||||compan|
||||||||||||||y’s|
||||||||||||||share ,B|
||||||||||||||alance|
||||||||||||||of|
||||||||||||||Owner's|
||||||||||||||equity|
||||||Producti|||||||||
||||||on of|||||||||
|Zhanjia|Limited||||electric|||||||||
|||||2,875,4||2,185,3||||||||
|ng|Liability|Zhanjia|||power,||||||970,893|||
||||Electric|40,000.||34,400.||76.00%|76.00%|Yes||||
|Electric|Compan|ng|||power||||||,965.00|||
|||||00||00||||||||
|Power|y||||station|||||||||
||||||construc|||||||||
||||||tion|||||||||
|Yuejia|Limited|Meizho|Electric|1,200,0|Producti|696,000||58.00%|55.56%|Yea|184,026|||

||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|Electric|Liability|u||00,000.|on of|,000.00||||,650.00|
|Power|Compan|||00|electric||||||
||y||||power,||||||
||||||power||||||
||||||station||||||
||||||construc||||||
||||||tion||||||
|Guangd|||||Producti||||||
|ong|||||on of||||||
|Shaogua|Limited||||electric||||||
|||||1,070,0|||||||
|n|Liability|Shaogua|||power,|963,000||||69,346,|
||||Electric|00,000.|||90.00%|90.00%|Yes||
|Yuejian|Compan|n|||power|,000.00||||399.00|
|||||00|||||||
|g Power|y||||station||||||
|Generati|||||construc||||||
|on|||||tion||||||
||||||Producti||||||
||||||on of||||||
|Zhanjia|||||||||||
||Limited||||electric||||||
|ng||||1,454,3||1,308,8|||||
||Liability|Zhanjia|||power,|||||154,411,|
|Zhongy|||Electric|00,000.||70,000.|90.00%|90.00%|Yes||
||Compan|ng|||power|||||708.00|
|ue||||00||00|||||
||y||||station||||||
|Energy|||||||||||
||||||construc||||||
||||||tion||||||
||||||Producti||||||
|Shenzhe|||||||||||
||||||on of||||||
|n|||||||||||
||Limited||||electric||||||
|Guangqi||||1,030,2||1,030,2|||||
||Liability|Shenzhe|||power,||100.00|100.00|||
|an|||Electric|92,500.||92,500.|||Yes||
||Compan|n|||power||%|%|||
|Electric||||00||00|||||
||y||||station||||||
|Power|||||||||||
||||||construc||||||
|Co., ltd.|||||||||||
||||||tion||||||
|Guangd|||||||||||
||||||Producti||||||
|ong|||||||||||
||||||on of||||||
|Huizhou|||||||||||
||||||electric||||||
|Natural|||||||||||
|||||963,000|power,|645,210||||419,238|
|Gas|Direct|Huizhou|Electric||||67.00%|67.00%|Yes||
|||||,000.00|power|,000.00||||,947.00|
|Power|||||||||||
||||||station||||||
|Generati|||||||||||
||||||construc||||||
|on Co.,|||||||||||
||||||tion||||||
|Ltd.|||||||||||
|Guangd|Limited|||1,370,0|Producti|||||1,123,11|
|||||||616,500|||||
|ong|Liability|Huizhou|Electric|00,000.|on of||45.00%|85.00%|Yes|8,586.0|
|||||||,000.00|||||
|Huizhou|Compan|||00|electric|||||0|

|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|Pinghai|y||||power,|||||||
|Power|||||power|||||||
|Generati|||||station|||||||
|on Co.,|||||construc|||||||
|Ltd.|||||tion|||||||
|Guangd||||||||||||
||||||Wind|||||||
|ong||||||||||||
||||||power|||||||
|Shibeish||||||||||||
||Limited||||generati|||||||
|an Wind||||||||||||
||Liability|||231,700|on and|162,190||||70,479,|-453,22|
|Power||Jieyang|Electric||||70.00%|60.00%|Yes|||
||Compan|||,000.00|power|,000.00||||777.00|4.00|
|Develop||||||||||||
||y||||station|||||||
|ment||||||||||||
||||||construc|||||||
|Co.,||||||||||||
||||||tion|||||||
|Ltd.||||||||||||
||||||Producti|||||||
|Guangd||||||||||||
||||||on of|||||||
|ong Red||||||||||||
||Limited||||electric|||||||
|Bay||||2,749,7||1,787,3||||1,139,5||
||Liability||||power,|||||||
|Power||Sanwei|Electric|50,000.||37,500.|65.00%|65.00%|Yes|00,187.||
||Compan||||power|||||||
|Generati||||00||00||||00||
||y||||station|||||||
|on Co.,||||||||||||
||||||construc|||||||
|Ltd.||||||||||||
||||||tion|||||||

Other statements on Subsidiaries procured through merger of entities under commoncontrol：
（3）The company has no subsidiary company acquired via enterprise consolidation under same controlling. In RMB
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
||||||||||||||After|
||||||||||||||wrote|
||||||||||||||down|
||||||||||||||current|
||||||||Other|||||Amount||
||||||||||||||period|
||||||||projects|||||used to||
||||||||||||||loss of|
|||||||Actual|balance|||Whether||write||
|Full name||||||||Holding|Proportio||Interest of|||
||||||||||||||minority|
|||||||capital|essentiall|||consolidat||down lost||
|of|Subsidiar|Registrati|Business|Registrati|Scope of|||proportio|n of||minority||sharehold|
|||||||amounts|y from|||ion of||included||
|subsidiary|y tyle|on Place|character|on capital|business|||n|voting||sharehold||ers over|
|||||||of the|net|||report||in||
|company||||||||(%)|rights(%)||er||equity|
|||||||end|investmen|||form||minority||
||||||||||||||beginning|
||||||||t to|||||sharehold||
||||||||||||||share of|
||||||||subsidiary|||||er interest||
||||||||||||||minority|
||||||||||||||sharehold|
||||||||||||||ers in the|
||||||||||||||subsidiary|

||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||||||from the|
|||||||||||||parent|
|||||||||||||company’|
|||||||||||||s|
|||||||||||||share ,Bal|
|||||||||||||ance of|
|||||||||||||Owner's|
|||||||||||||equity|
|Guangd|||||Wind||||||||
|ong|||||power||||||||
|Wind|Limited||||generati||||||||
|Power|Liability|Guangz||221,872|on and|221,872|100.00|100.00|||||
||||Electric||||||Yes||||
|Develop|Compan|hou||,900.00|power|,900.00|%|%|||||
|ment|y||||station||||||||
|Co.,|||||construc||||||||
|Ltd.|||||tion||||||||
||||||Wind||||||||
|Huilai|||||||||||||
||||||power||||||||
|Wind|||||||||||||
||Limited||||generati||||||||
|Power|||||||||||||
||Liability||||on and|14,000,||||4,484,8|-534,30||
|Develop||Jieyang|Electric|20,000,|||70.00%|70.00%|Yes||||
||Compan||||power|000.00||||61.00|1.00||
|ment||||000.00|||||||||
||y||||station||||||||
|Co.,|||||||||||||
||||||construc||||||||
|Ltd.|||||||||||||
||||||tion||||||||

Notes
2. Changes of combination scope at current period
Change of consolidation range:
√Applicable□Not applicable
Compared with the previous year, consolidated statements covered 1 new enterprises in the report period due to ... Guangdong Yuejianghongrui Power Technology Development Co., Ltd. was an indirect subsidiary that newly esta blished of the company. The company indirectly controlled90% of the company (a subsidiary of the Company Sh aoguan Guangdong Yuejiang Power Generation Co., Ltd. directly hold100% shares)
Compared with the previous year, the scope of consolidation did not reduce in the report period.
VII. Notes of consolidated financial statements
1. Currency funds
In RMB
||||||||
|-|-|-|-|-|-|-|
||Year-end balance|||Year-beginning balance|||
|Items|Original|Exchange||Original|Exchange||
||currency|rate|RMB|currency|rate|RMB|
|Cash|--|--|118,566.00|--|--|133,621.00|

||||||||
|-|-|-|-|-|-|-|
|RMB|--|--|118,566.00|--|--|133,621.00|
|Bank deposit|--|--|5,103,999,761.00|--|--|4,374,748,572.00|
|RMB|--|--|5,103,988,385.00|--|--|4,374,737,297.00|
|HKD|12,877.00|0.79|10,222.00|12,876.00|0.79|10,123.00|
|USD|189.00|6.11|1,154.00|189.00|6.10|1,152.00|
|Other monetary catital|--|--|40,000,000.00|--|--|2,428,983.00|
|RMB|--|--|40,000,000.00|--|--|2,428,983.00|
|Total|--|--|5,144,118,327.00|--|--|4,377,311,176.00|

 2.Bills receivable
（1）Bills receivable
In RMB
||||
|-|-|-|
|Classification|Year-end balance|Year-beginning balance|
|Bank acceptance||1,800,000.00|
|Trade acceptance|||
|Total|0.00|1,800,000.00|

 3. Interest receivable
（1）Interest receivable
In RMB
||||||
|-|-|-|-|-|
|Items|Beginning of term|Increased this term|Decreased this term|End of term|
|Deposit interest|5,194,976.00|17,644,892.00|15,715,836.00|7,124,032.00|
|Loan interest|593,062.00|607,511.00|1,200,573.00|0.00|
|Total|5,788,038.00|18,252,403.00|16,916,409.00|7,124,032.00|

 4. Account receivable
（1）Classification Account receivable :
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Year-end balance||||Year-beginning balance||||
||||Provision for bad||||Provision for||
||Book balance||||Book balance||||
||||debts||||bad debts||
|Classification|||||||||
|||||Proport|Amount||||
|||Proportion||||Proportion|Amou|Proport|
||Amount||Amount|ion|||||
|||（%）||||（%）|nt|ion（%）|
|||||（%）|||||

||||||||||
|-|-|-|-|-|-|-|-|-|
|Receivables with major|||||||||
|individual amount and bad|||||||||
|debt provision provided|||||||||
|individually receivables|||||||||
||3,285,257,448.00|99.86%|0.00|0.00%|3,256,087,345.00|99.68%|0.00|0.00%|
|with major individual|||||||||
|amount and bad debt|||||||||
|provision provided|||||||||
|individually|||||||||
|Receivables provided bad debt provision in groups|||||||||
|Account receivable with|||||||||
|minor individual amount|||||||||
||4,537,947.00|0.14%|0.00|0.00%|10,358,407.00|0.32%|0.00|0.00%|
|but bad debt provision is|||||||||
|provided|||||||||
|Total|3,289,795,395.00|--|0.00|--|3,266,445,752.00|--|0.00|--|

 Receivable accounts with large amount individually and bad debt provisions were provided.
√Applicable□Not applicable
In RMB
||||||
|-|-|-|-|-|
||||Proportion of||
|||Provision for bad|||
|Content of accounts receivable|Book balance||provision for bad|Reason for provision|
|||debts|||
||||debt (%)||
|||||Full amount recovery|
|Electricity charge receivable|3,269,338,101.00||0.00%||
|||||is expected|
|||||Full amount recovery|
|Income receivable from byproduct sales|11,271,811.00||0.00%||
|||||is expected|
|||||Full amount recovery|
|Receivable maintenance service fees|4,647,536.00||0.00%||
|||||is expected|
|Total|3,285,257,448.00|0.00|--|--|

Account receivable accounts with not minor amount but were provided had debt provisions individually at end of period.
√Applicable□Not applicable
In RMB
||||||
|-|-|-|-|-|
|Description Of other receivables|Book balance|Amount of bad debt|rate|Reason|
|Steam accounts receivable|2,912,681.00||0.00%|Full amount recovery is expected|
|Receivable maintenance service fees|442,869.00||0.00%|Full amount recovery is expected|
|Income receivable from byproduct sales|1,182,397.00||0.00%|Full amount recovery is expected|
|Total|4,537,947.00|0.00|--|--|

（2）The front 5units’ information of account receivable
In RMB
||||||
|-|-|-|-|-|
||Relation with the|||Portion in total|
|Name||Amount|Ages||
||Company|||receivables(%)|
|GPGC|Third party|3,088,945,255.00|Within 1 year|93.89%|
|Shenzhen Powe suply|||||
||Third party|164,433,502.00|Within 1 year|5.00%|
|Bureau|||||
|GPGC,Zhanjiang Powe|||||
||Third party|10,061,880.00|Within 1 year|0.31%|
|suply Bureau|||||
|China Petroleum & Che|||||
|mical Corporation|||||
||Third party|10,523,921.00|Within 1 year|0.32%|
|Maoming Branch|||||
|C|||||
|GPGC, Jieyang Power|||||
||Third party|5,881,263.00|Within 1 year|0.18%|
|Suply Bureau|||||
|Total|--|3,279,845,821.00|--|99.70%|

（3）Account due from related parties
In RMB
|||||
|-|-|-|-|
|Name of the company|Relation with the company|Amount|Portion in total receivables(%)|
|Guangdong Yudean Group,||||
||Controlled by Yudean Group|4,572,508.00|0.14%|
|Shajiao Power Plan C||||
|Guangdong Yudean Zhanjiang||||
||Controlled by Yudean Group|442,869.00|0.01%|
|Biological Power Generation||||
|Guangzhou Zhuhai Jinwan||||
||Controlled by Yudean Group|75,028.00|0.00%|
|Power Generation Co., Ltd.||||
|Total|--|5,090,405.00|0.15%|

 5. Other Account receivable
（1）Category of other account receivable:
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Year-end balance||||Year-beginning balance||||
||Book balance||Book balance||Book balance||Book balance||
|Classification|||||||||
|||Proportion（%）||Proportion（%）||Proportion（%）||Proportio|
||Amount||Amount||Amount||Amount||
|||||||||n（%）|
|Other Receivables with|||||||||
|major individual amount|108,477,615.||||269,551,343.||||
|||79.31%|240,745.0|0 0.22%||81.76%|185,963.00|0.07%|
|and bad debt provision|00||||00||||
|provided individually|||||||||

||||||||||
|-|-|-|-|-|-|-|-|-|
|Other Receivables provided bad debt provision in groups|||||||||
|Other Account receivable|||||||||
|with minor individual|28,303,896.0||||60,123,734.0||||
|||20.69%|1,784,022.00|6.30%||18.24%|1,838,807.00|3.06%|
|amount but bad debt|0||||0||||
|provision is provided|||||||||
||136,781,511.||||329,675,077.||||
|Total||--|2,024,767.00|--||--|2,024,770.00|--|
||00||||00||||

Other receivable accounts with large amount and were provided had debt provisions individually at end of period.√Applicable□Not applicable
In RMB
||||||
|-|-|-|-|-|
|Description Of other|||||
||Book balance|Amount of bad debts|Rate|Reason|
|receivables|||||
|||||Provision on single item|
|Income receivable from|||||
||55,642,042.00|95,700.00|0.17%|basis according to actual|
|byproduct sales|||||
|||||situation|
|Prepayments for||||Full amount recovery is|
||22,397,040.00||0.00%||
|construction||||expected|
|||||Full amount recovery is|
|Reserve funds|7,871,903.00||0.00%||
|||||expected|
|||||Full amount recovery is|
|Deductible input|5,298,283.00||0.00%||
|||||expected|
|VAT return||||Full amount recovery is|
||4,128,727.00||0.00%||
|||||expected|
|||||Provision on single item|
|Other|13,139,620.00|145,045.00|1.10%|basis according to actual|
|||||situation|
|Total|108,477,615.00|240,745.00|--|--|

Other Account receivable accounts with not minor amount but were provided had debt provisions individually at end of period.
√Applicable□ Not applicable
In RMB
||||||
|-|-|-|-|-|
|Description Of other|||||
||Book balance|Amount of bad debts|Rate|Reason|
|receivables|||||
|||||Provision on single item|
|Reserve funds|8,753,882.00|5,899.00|0.07%|basis according to actual|
|||||situation|
|Income receivable from||||Full amount recovery is|
||5,567,786.00||0.00%||
|byproduct sales||||expected|
|Deposit|2,201,383.00|7,488.00|0.34%|Provision on single item|

||||||
|-|-|-|-|-|
|||||basis according to actual|
|||||situation|
|||||Provision on single item|
|Advance money|1,966,459.00|313,082.00|15.92%|basis according to actual|
|||||situation|
|||||Full amount recovery is|
|Current account|1,200,720.00||0.00%||
|||||expected|
|Receivable management||||Full amount recovery is|
||469,000.00||0.00%||
|fee / rent fee/ deposit||||expected|
|||||Provision on single item|
|Other|8,144,666.00|1,457,553.00|17.90%|basis according to actual|
|||||situation|
|Total|28,303,896.00|1,784,022.00|--|--|

(2)Natures or contents of other receivable accounts with large amount
In RMB
|||||
|-|-|-|-|
|||Nature or content of the||
|Name|Amount||Portion in total other receivables(%)|
|||account||
|Yudean Environmental||Coal ash amount||
||41,871,432.00||31.07%|
|Protection Company||||
|Huidong Finance Bureau|21,318,970.00|Land fund|15.82%|
|Guangzhou Huading Materials||Coal ash amount||
||6,755,641.00||5.01%|
|Co., Ltd.||||
|Guangdong Dapeng||||
||5,891,562.00|Other|4.37%|
|Liquefiednatural gas Co., Ltd.||||
|Zhanjiang Yuneng Investment||||
||3,427,070.00|Advance money|2.54%|
|Co., Ltd.||||
|Total|79,264,675.00|--|58.81%|

（3）The front 5units’ information of Other account receivable
In RMB
||||||
|-|-|-|-|-|
||Relation with the|||Portion in total other|
|Name||Amount|Ages||
||Company|||receivables (%)|
|Yudean Environmental|Controlled by Yudean||||
|||41,871,432.00|Within 1 year|31.07%|
|Protection Company|Group||||
|Huidong Finance Bureau|Third party|21,318,970.00|Over 3 years|15.82%|
|Guangzhou|||||
||Third party|6,755,641.00|Within 1 year|5.01%|
|HuadingMaterials Co.,|||||

||||||
|-|-|-|-|-|
|Ltd.|||||
|Guangdong Dapeng|||||
|Liquefiednatural gas|Third party|5,891,562.00|Within 1 year|4.37%|
|Co., Ltd.|||||
|Zhanjiang Yuneng|||||
||Third party|3,427,070.00|Within 1 year|2.54%|
|Investment Co., Ltd.|||||
|Total|--|79,264,675.00|--|58.81%|

（4）Other Account receivable from Related parties
In RMB
|||||
|-|-|-|-|
||||Portion in total other receivables|
|Name|Relation with the Company|Amount||
||||(%)|
|Guangdong Yudean||||
|Environmental Protection|Controlled by Yudean Group|41,871,432.00|31.07%|
|Company||||
|Guangdong Yudean Real||||
||Controlled by Yudean Group|885,244.00|0.66%|
|estate Investment Co., Ltd.||||
|Guangdong Yudean Group||||
||Controlled by Yudean Group|803,104.00|0.60%|
|Co., Ltd., Shajiao C Plant||||
|Shaoguan Power Generation||||
||Controlled by Yudean Group|706,798.00|0.52%|
|Plant||||
|Guangdong Property||||
||Controlled by Yudean Group|289,360.00|0.21%|
|Management Co., Ltd.||||
|Chaokang Investment Co. Ltd.|Controlled by Yudean Group|220,434.00|0.16%|
|Total|--|44,776,372.00|33.22%|

 6. Prepayments
（1）Prepayments age :
In RMB
||||||
|-|-|-|-|-|
||End of term||Beginning of term||
|Age||Proportion||Proportion|
||Amount||Amount||
|||（%）||（%）|
|Within 1 year|1,258,118,937.00|99.45%|1,486,580,750.00|99.25%|
|1-2 years|5,688,238.00|0.45%|3,514,591.00|0.23%|
|2-3 years|529,942.00|0.04%|7,184,175.00|0.48%|
|Over 3 years|811,682.00|0.06%|604,110.00|0.04%|

||||||
|-|-|-|-|-|
|Total|1,265,148,799.00|--|1,497,883,626.00|--|

（2） The front 5units’ information of Prepayments
In RMB
||||||
|-|-|-|-|-|
||Relation with the||||
|Unit name||Amount|Time|Reason of not clearing|
||company||||
|||||Prepaid Fuel amount|
||Associated Company and||||
|Guangdong Electric Fuel||||The contract has not yet e|
||Controlled by Yudean|1,185,130,658.52|Within 1 year||
|Supply Co., Ltd.||||xpired|
||Group||||
|Guangzhu Raiway Co.,|||||
||Third party|12,530,561.10|Within 1 year|Prepaid Transport fee|
|Ltd. Gaolangang Station|||||
|Guangshen Raiway Co.,|||||
||Third party|14,820,949.80|Within 1 year|Prepaid Transport fee|
|Ltd.|||||
|Guangzhou Port Co.,|||||
||Third party|5,792,567.00|Within 1 year|Prepaid Transport fee|
|Ltd. Xiji Port Branch|||||
|PICC, Shenzhen Branch|Third party|4,683,695.51|Within 1 year|Prepaid Insurance|
|Total|--|1,222,958,431.93|--|--|

7.Inventory
（1）Inventory types
In RMB
||||||||
|-|-|-|-|-|-|-|
||Year-end balance|||Year-beginning balance|||
|Items|Book balance|Provision for|Book value|Book balance|Provision for bad|Book value|
|||bad debts|||debts||
|Raw materials|912,257,186.00|0.00|912,257,186.00|811,535,586.00||811,535,586.00|
|Turnover materials|847,333,942.00|39,674,506.00|807,659,436.00|823,532,504.00|39,674,506.00|783,857,998.00|
|Other|10,127,517.00|0.00|10,127,517.00|8,252,826.00||8,252,826.00|
|Total|1,769,718,645.00|39,674,506.00|1,730,044,139.00|1,643,320,916.00|39,674,506.00|1,603,646,410.00|

（2）Inventory Impairment provision
In RMB
|||||||
|-|-|-|-|-|-|
||Book balance at year|Amount accounted in|Amount Decreased in current period||Book balance at period|
|Type||||||
||beginning|current period|Transferred back|Reselling|end|
|Raw materials|||||0.00|
|Turnover materials|39,674,506.00||||39,674,506.00|
|Other||||||
|Total|39,674,506.00||||39,674,506.00|

（3）Situation of Inventory impairment
|||||
|-|-|-|-|
|Items|Base of stock value decline|Reason of issuing back to stock|Proportion of issuing back|
|||value decline plan of this period|amount to the stock balance at|
||||this period|

8.Other current assets
In RMB
||||
|-|-|-|
|Items|End of term|Beginning of term|
|The processing other current assets|57,387,153.00|57,387,153.00|
|Pending Deductible VAT|623,025,239.00|948,325,616.00|
|Prepaid Income Tax|47,891,722.00|3,938,202.00|
|Other|47,523,786.00|47,484,529.00|
|Total|775,827,900.00|1,057,135,500.00|

 9. Disposable financial asset
（1）Sellable financial assets
In RMB
||||
|-|-|-|
|Items|Fair value at end of term|Fair value at beginning of term|
|Available-for-sale equity instruments|287,107,320.00|298,871,738.00|
|Total|287,107,320.00|298,871,738.00|

 10.Long-term Receivable
In RMB
||||
|-|-|-|
|Type|End of term|Beginning of term|
|Financing Rent|116,951,900.00|114,478,124.00|
|Total|116,951,900.00|114,478,124.00|

 11. Investment to joint venture and Affiliated Enterprises
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|||Company vote||||||
||Company|right percentage in||||Total business||
|||||Ending total|||Current|
|Name|shareholding|the invested|Ending total assets||Ending net assets|revenues at this||
|||||liabilities|||net profit|
||percentage (%)|unittion of units||||period||
|||(%)||||||
|I.Joint venture||||||||
|Guangdong|||2,702,258,668.|1,786,051,412.||10,322,975,071||
||50.00%|50.00%|||916,207,255.00||86,173,141.00|
|Electric Power|||00|00||.00||

|||||||||
|-|-|-|-|-|-|-|-|
|Fuel Co., Ltd||||||||
|II. Affiliated enterprise||||||||
|West|||8,358,635,446.|6,287,894,904.|2,070,740,542.|1,810,112,885.||
||26.00%|26.00%|||||-2,186,105.00|
|Investment|||00|00|00|00||
|Linchang||||||||
||49.00%|49.00%|827,737,290.00|451,559,169.00|376,178,121.00|4,630,358.00|-1,979,710.00|
|Yuntou||||||||
|Yudean|||6,179,068,576.|3,523,581,833.|2,655,486,743.|||
||35.00%|35.00%||||869,651,061.00|15,794,486.00|
|Shipping|||00|00|00|||
||||8,541,795,862.|6,964,141,546.|1,577,654,315.|||
|Weixin Yuntou|40.00%|40.00%||||590,520,115.00|-38,930,082.00|
||||00|00|00|||
|Huaneng||||||||
|Santou Wind|25.00%|25.00%|440,688,517.00|194,909,858.00|245,778,659.00|37,357,723.00|12,911,732.00|
|Power||||||||
||||2,375,089,124.||2,058,857,948.|||
|Shanxi Energy|40.00%|40.00%||316,231,176.00||0.00|102,968,423.00|
||||00||00|||
|Yudean|||14,993,266,516|12,572,053,689|2,421,212,827.|||
||25.00%|25.00%||||344,483,779.00|190,032,393.00|
|Finance|||.00|.00|00|||
|Yunnan||||||||
||||4,659,034,269.|3,996,207,250.||||
|Baoshan|29.00%|29.00%|||662,827,019.00|83,209,035.00|-25,759,846.00|
||||00|00||||
|Binlangjiang||||||||
|Guangdong||||||||
|Guohua||||||||
||||14,859,170,366|5,851,191,211.|9,007,979,155.|4,963,080,620.|1,212,928,883.|
|Yudean Taishan|20.00%|20.00%||||||
||||.00|00|00|00|00|
|Power||||||||
|Generation||||||||
|Yangshan||||||||
||40.00%|40.00%|24,522,994.00|5,783,992.00|18,739,002.00|4,320,265.00|1,809,019.00|
|Zhongxinkeng||||||||

12. Long term share equity investment.
(1）Details of long-term equity investment
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||||||Explainatio||||
|||||||||n of||||
|||||||Shareholdin||||||
||||||||Voting right|||||
|||||||||diffirence||||
|||Initial||||g||||||
||Accounting||Original||Ending||proportion|between||Current|Cash|
|Name||investment||change||proportion|||Devalue|||
||method||balance||Balance||in the|shareholdin||devalue|bonus|
|||cost||||in the||||||
||||||||investee|g||||
|||||||investee||||||
|||||||||proportion||||
|||||||||and voting||||

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||||||||right||
|||||||||proportion||
|||||||||in investee||
|Guangdo||||||||||
|ng||||||||||
|Guohua||||||||||
|Yudean||||||||||
||Equityme|1,799,659|2,173,810|219,573,5|2,393,383|||Not||
|Taishan||||||20.00%|20.00%|||
||thod|,331.00|,422.00|04.00|,926.00|||applicable||
|Power||||||||||
|Generatio||||||||||
|n Co.,||||||||||
|Ltd.||||||||||
|Guangdo||||||||||
|ng||||||||||
|Electric|Equityme|498,813,4|580,941,6|-23,438,3|557,503,3|||Not|66,524,88|
|||||||50.00%|50.00%|||
|Power|thod|95.00|67.00|18.00|49.00|||applicable|8.43|
|Fuel Co.,||||||||||
|Ltd.||||||||||
|Yunnan||||||||||
|Baoshan|Equityme|223,858,1|216,895,7|-7,470,35|209,425,4|||Not||
|||||||29.00%|29.00%|||
|Binlangji|thod|00.00|64.00|6.00|08.00|||applicable||
|ang||||||||||
|YudeanFa|Equityme|513,325,0|624,823,3|-6,242,62|618,580,7|||Not|53,750,72|
|||||||25.00%|25.00%|||
|nince|thod|00.00|62.00|4.00|38.00|||applicable|1.63|
|Shanxi||||||||||
||Equityme|400,000,0|778,866,5|41,187,36|820,053,9|||Not||
|Yudean||||||40.00%|40.00%|||
||thod|00.00|68.00|9.00|37.00|||applicable||
|energy||||||||||
|Huaneng||||||||||
|Santou|Equityme|38,843,75|51,745,18|3,227,935|54,973,12|||Not||
|||||||25.00%|25.00%|||
|Wind|thod|0.00|5.00|.00|0.00|||applicable||
|Power||||||||||
|WenxinY|Equityme|694,000,0|694,818,0|-15,572,0|679,246,0|||Not||
|||||||40.00%|40.00%|||
|untou|thod|00.00|76.00|33.00|43.00|||applicable||
|YudeanSh|Equityme|862,964,8|927,200,8|-3,449,83|923,750,9|||Not|8,977,900|
|||||||35.00%|35.00%|||
|ipping|thod|87.00|12.00|0.00|82.00|||applicable|.00|
|Lincang|Equityme|194,280,1|172,746,2|11,716,04|184,462,3|||Not||
|||||||49.00%|49.00%|||
|Yuntou|thod|00.00|62.00|2.00|04.00|||applicable||
|Yudean||||||||||
|West|Equityme|220,324,0|283,755,1|-568,387.|283,186,7|||Not||
|||||||26.00%|26.00%|||
|Investme|thod|00.00|69.00|00|82.00|||applicable||
|nt||||||||||

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Yangshan||||||||||
||Equityme|6,060,000|7,878,849|723,607.0|8,602,456|||Not||
|Zhongxin||||||40.00%|40.00%|||
||thod|.00|.00|0|.00|||applicable||
|keng||||||||||
|Yangshan|Equityme|5,000,000|6,030,701||6,030,701|||Not||
|||||||25.00%|25.00%|||
|Jiangkeng|thod|.00|.00||.00|||applicable||
|South||||||||||
|Union|Cost|30,000,00|30,000,00||30,000,00|||Not||
|||||||10.00%|10.00%|||
|Develop|method|0.00|0.00||0.00|||applicable||
|ment||||||||||
|Sunshine||||||||||
|insurance|Cost|356,000,0|356,000,0||356,000,0|||Not||
|||||||5.34%|5.34%|||
|Group Co.,|method|00.00|00.00||00.00|||applicable||
|Ltd.||||||||||
|Guoyi||||||||||
|Invite||||||||||
||Cost|3,600,000|3,600,000||3,600,000|||Not||
|public||||||1.97%|1.97%|||
||method|.00|.00||.00|||applicable||
|bidding||||||||||
|Co., Ltd.||||||||||
|Shenzhen||||||||||
|Chuangxi||||||||||
||Cost|115,000,0|115,000,0||115,000,0|||Not|12,862,50|
|n||||||3.67%|3.67%|||
||method|00.00|00.00||00.00|||applicable|0.00|
|Technolo||||||||||
|gy||||||||||
|Maoming||||||||||
||Cost|903,707.0|903,707.0|-903,707.||||Not||
|Electric||||||15.00%|15.00%|||
||method|0|0|00||||applicable||
|Power||||||||||
|||5,962,632|7,025,016|218,783,2|7,243,799||||142,116,0|
|Total|--|||||--|--|--||
|||,370.00|,544.00|02.00|,746.00||||10.06|

 13.Investment real estate
（1）Measured by the cost of investment in real estate
In RMB Items Book amount at year Increase at this Decrease at this Book balance in beginning period period year -end
|||||
|-|-|-|-|
|1. Total original price|20,135,165.00||20,135,165.00|
|1.House, Building|20,135,165.00||20,135,165.00|
|II.Total accumulated depreciation||||
||9,296,134.00|317,800.00|9,613,934.00|
|accumulated amortization||||
|1.House, Building|9,296,134.00|317,800.00|9,613,934.00|
|III. Total book value of investment|10,839,031.00|-317,800.00|10,521,231.00|

|||||
|-|-|-|-|
|real estate||||
|1.House, Building|10,839,031.00|-317,800.00|10,521,231.00|
|2.Land use right|0.00|0.00|0.00|
|V. Total book value of investment real||||
||10,839,031.00|-317,800.00|10,521,231.00|
|estate||||
|1.House, Building|10,839,031.00|-317,800.00|10,521,231.00|

 In RMB
|||
|-|-|
||This period|
|Amount of amortization and depreciation in the reporting period|317,800.00|
|Withdrawal amount of provision for impairment of investment real estate||
||0.00|
|in the reporting period||

14. Fixed assets
（1）Fixed assets
In RMB Items Book amount at Increase at this period Decrease at this Book balance in year beginning period year -end
||||||
|-|-|-|-|-|
|1. Total original price|61,939,635,826.00|567,378,648.00|66,770,337.00|62,440,244,137.00|
|Including: House , Building|13,567,382,642.00|83,382,957.00|2,737,191.00|13,648,028,408.00|

 Machinery equipment 46,786,204,189. 466,487,125.00 51,712,992.00 47,200,978,322. 00 00 Transportations 606,597,271.00 5,126,874.00 3,060,486.00 608,663,659.00
||||||
|-|-|-|-|-|
|Other|979,451,724.00|12,381,692.00|9,259,668.00|982,573,748.00|

 -- Book balance at Current term Current term Decrease at this Book balance in year beginning new extra provision period year -end
||||||
|-|-|-|-|-|
|II. Total of accumulative|||||
||19,776,929,214.00|1,813,875,406.00|38,556,638.00|21,552,247,982.00|
|depreciation|||||
|Including: House , Building|3,984,642,389.00|252,096,427.00|993,636.00|4,235,745,180.00|

 Machinery equipment 14,920,108,143. 1,480,185,572.00 27,739,764.00 16,372,553,951. 00 00 Transportations 327,637,743.00 29,552,211.00 2,016,413.00 355,173,541.00
|||||||
|-|-|-|-|-|-|
|Other|544,540,939.00||52,041,196.00|7,806,825.00|588,775,310.00|
||Book balance at||||Book balance in|
|--||--||||
||year beginning||||year -end|
|III. Total book value of||||||
||42,162,706,612.00|--|||40,887,996,155.00|
|Fixed assets||||||
|Including: House , Building|9,582,740,253.00|--|||9,412,283,228.00|

Machinery equipment 31,866,096,046. -- 30,828,424,371. 00 00 Transportations 278,959,528.00 -- 253,490,118.00
|||||
|-|-|-|-|
|Other|434,910,785.00|--|393,798,438.00|
|IV. Total of Devalued||||
||638,670,372.00|--|638,670,372.00|
|Provision||||
|Including: House , Building|240,233,419.00|--|240,233,419.00|

 Machinery equipment 391,474,262.00 -- 391,474,262.00 Transportations 2,967,075.00 -- 2,967,075.00
|||||
|-|-|-|-|
|Other|3,995,616.00|--|3,995,616.00|
|V. Total book value of|41,524,036,240.00||40,249,325,783.00|
|||--||
|Fixed assets||||
|Including: House , Building|9,342,506,834.00|--|9,172,049,809.00|

 Machinery equipment 31,474,621,784. -- 30,436,950,109. 00 00 Transportations 275,992,453.00 -- 250,523,043.00
|||||
|-|-|-|-|
|Other|430,915,169.00|--|389,802,822.00|

 Current depreciation is RMB 1,813,875,406.00 . The issue of fixed assets transferred from construction in progress original price is RMB433,806,892.00.
（2）Fixed assets leased by finance
In RMB
|||||
|-|-|-|-|
|Items|Original book value|Accumulated depreciation|Net book value|
||3,414,000,000.00|974,712,144.00|2,439,287,856.00|

 (3) Fixed assets leased out from operation lease
In RMB
|||
|-|-|
|Category|Closing book value|
|House and Building|2,973,673.53|

 15.Project under construction
（1）Project under construction
In RMB
||||||
|-|-|-|-|-|
||Year-end balance||Year-beginning balance||
|Items|||||
|Project of "New Big Power|||||
||2,286,211,199.|2,286,211,199.|1,816,064,281.||
|Units While Closing Small||||1,816,064,281.00|
||00|00|00||
|Ones" of Yuejiang Electric|||||

||||||||
|-|-|-|-|-|-|-|
|Power (2x600MW)|||||||
|Electric units Construction of|||||||
|Dapu Power Plant (2 *|442,923,987.00||442,923,987.00|391,868,853.00||391,868,853.00|
|600MW)|||||||
|Bohe Coal wharf|407,871,318.00||407,871,318.00|325,779,463.00||325,779,463.00|
|Bohe Pwer Plant|268,644,399.00||268,644,399.00|164,567,170.00||164,567,170.00|
|Project of Humen|||||||
||137,030,800.00|2,916,126.00|134,114,674.00|136,832,778.00|2,916,126.00|133,916,652.00|
|units2*1000MW|||||||
|Project of units 5# and 6# of|||||||
||37,923,099.00||37,923,099.00|34,673,682.00||34,673,682.00|
|Red Bay|||||||
|Project of Dianbai Hot wind|12,406,296.00||12,406,296.00|8,469,661.00||8,469,661.00|
|Project of Leizhou|||||||
||12,399,504.00||12,399,504.00|5,252,345.00||5,252,345.00|
|Hongxinlou Wind power|||||||
|Other project|208,073,279.00||208,073,279.00|323,795,540.00||323,795,540.00|
|Technology|||||||
|improvementechnology and|487,575,387.00|796,461.00|486,778,926.00|679,770,268.00|796,461.00|678,973,807.00|
|other|||||||
||4,301,059,268.||4,297,346,681.00|3,887,074,041.||3,883,361,454.00|
|Total||3,712,587.00|||3,712,587.00||
||00|||00|||

（2）Significant changes in projects of construction-in-progress
In RMB
||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|||Amountat yearbeginning|||||||Thereinto:||||
|||||||Project|||||||
|||||||||Accumulat||Current|||
||||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||||
|Project|||||||||||||
|of|||||||||||||
|"Constru|||||||||||||
|cting|||||||||||||
|New Big|||||||||||||
||||||||||||Loan and||
|Power|||||||||||||
||4,914,01|1,816,06|470,146,|||||253,874,|52,135,5|||2,286,21|
|Units||||||46.52%|46.52%|||5.52%|self||
||0,000.00|4,281.00|918.00|||||591.00|99.00|||1,199.00|
|While|||||||||||funds||
|Closing|||||||||||||
|Small|||||||||||||
|Ones" of|||||||||||||
|Yuejiang|||||||||||||
|Electric|||||||||||||

|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|Power||||||||||||
|(2x600M||||||||||||
|W)||||||||||||
|Electric||||||||||||
|units||||||||||||
|Construc||||||||||||
|tion of||||||||||Loan and||
||5,659,00|391,868,|51,055,1||||56,065,1|4,771,04|||442,923,|
|Dapu|||||7.83%|7.83%|||5.70%|self||
||0,000.00|853.00|34.00||||74.00|2.00|||987.00|
|Power||||||||||funds||
|Plant (2||||||||||||
|*||||||||||||
|600MW)||||||||||||
|Bohe||||||||||Loan and||
||2,848,56|325,779,|82,091,8||||10,381,4|5,626,76|||407,871,|
|Coal|||||14.32%|14.32%|||5.99%|self||
||0,000.00|463.00|55.00||||21.00|6.00|||318.00|
|wharf||||||||||funds||
|Bohe||||||||||Loan and||
||6,937,39|164,567,|104,077,||||4,510,43|808,042.|||268,644,|
|Pwer|||||3.87%|3.87%|||5.99%|self||
||0,000.00|170.00|229.00||||7.00|00|||399.00|
|Plant||||||||||funds||
|Project||||||||||||
|of||||||||||Loan and||
||7,789,51|133,916,|198,022.||||||||134,114,|
|Humen|||||1.76%|1.76%|0.00|0.00|0.00%|self||
||0,000.00|652.00|00||||||||674.00|
|units2*1||||||||||funds||
|000MW||||||||||||
|Project||||||||||||
|of units||||||||||Loan and||
||7,714,37|34,673,6|3,249,41||||||||37,923,0|
|5# and|||||0.49%|0.49%|0.00|0.00|0.00%|self||
||0,000.00|82.00|7.00||||||||99.00|
|6# of||||||||||funds||
|Red Bay||||||||||||
|Project||||||||||||
|||||||||||Loan and||
|of|483,714,|8,469,66|3,936,63||||233,651.|233,651.|||12,406,2|
||||||2.56%|2.56%|||6.55%|self||
|Dianbai|800.00|1.00|5.00||||00|00|||96.00|
|||||||||||funds||
|Hot wind||||||||||||
|Project||||||||||||
|of||||||||||||
|||||||||||Loan and||
|Leizhou|462,920,|5,252,34|7,147,15||||||||12,399,5|
||||||2.68%|2.68%|0.00|0.00|0.00%|self||
|Hongxin|000.00|5.00|9.00||||||||04.00|
|||||||||||funds||
|lou Wind||||||||||||
|power||||||||||||
|||||||Not||||Loan and||
|Other||323,795,|13,149,5|128,871,|||||||208,073,|
|||||||applicabl||||self||
|project||540.00|28.00|789.00|||||||279.00|
|||||||e||||funds||

||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Technolog|||||||||||||
|y|||||||||||||
||||||||Not||||Loan and||
|improvem||678,973,|241,612|, 433,806,||||||||486,778,|
||||||||applicabl||||self||
|entechnol||807.00|011.00|892.00||||||||926.00|
||||||||e||||funds||
|ogy and|||||||||||||
|other|||||||||||||
||36,809,4||||||||||||
|||3,883,36|976,663|, 433,806,|128,871,|||325,065|, 63,575,1|||4,297,34|
|Total|74,800.0|||||--|--|||--|--||
|||1,454.00|908.00|892.00|789.00|||274.00|00.00|||6,681.00|
||0||||||||||||

（3）Impairment Provisions of Construction in progress
In RMB
|||||||
|-|-|-|-|-|-|
|||Increased this|Decreased thisterm|||
|Items|Beginning of term|||End of term|Reason to provide|
|||term||||
||||||Impairment of the up|
|Project of Humen units2*1000MW|2,916,126.00|||2,916,126.00||
||||||front cost|
|Zhanjiang Electric power technicaltransformation|||||Impairment of old|
||796,461.00|||796,461.00||
||||||plant transformation|
|Total|3,712,587.00|||3,712,587.00|--|

（4）Major projects under construction
Items Project progress Notes
|||
|-|-|
|Project of "Constructing New Big Power Units While Closing Small||
||46.52%|
|Ones" of Yuejiang Electric Power (2x600MW)||
|Electric units Construction of Dapu Power Plant (2 * 600MW)|7.83%|
|Bohe Coal wharf|14.32%|
|Bohe Pwer Plant|3.87%|
|Project of Humen units2*1000MW|1.76%|
|Project of units 5# and 6# of Red Bay|0.49%|
|Project of Dianbai Hot wind|2.56%|
|Project of Leizhou Hongxinlou Wind power|2.68%|

（5）Statement on projects under construction
16.Engineering Material
In RMB
||||||
|-|-|-|-|-|
|Items|Beginning of term|Increased this term|Decreased this term|End of term|
|Spectial equipment|706,539.00|18,163.00|0.00|724,702.00|

||||||
|-|-|-|-|-|
|Tools|1,522,893.00|0.00|61,500.0|0 1,461,393.00|
|Total|2,229,432.00|18,163.00|61,500.0|0 2,186,095.00|

 17.Liquidation of fixed assets
In RMB
|||||
|-|-|-|-|
|Items|Beginning book value|Eng book value|Reason of liquidation|
|Power Equipment parts scrapped due to||||
||2,490,259.00|5,926,658.00|Not yet disposed|
|technical innovation||||
|Administrative supplies|98,401.00|144,443.00|Not yet disposed|
|Other||100,703.00|Not yet disposed|
|Total|2,588,660.00|6,171,804.00|--|

18. Intangible assets
（1）Intangible assets
In RMB
||||||||
|-|-|-|-|-|-|-|
|Items||Book Balance in|Increase at this period||Decrease at this|Book Balance inyear-end|
|||year-begin|||period||
|1. Total original price|1,861,796,390.00||28,624,083.00|4,815,554.00||1,885,604,919.00|
|Software|58,385,781.00||6,974,133.00|0.00||65,359,914.00|
|Land use rights|1,234,973,257.00||15,129,725.00|0.00||1,250,102,982.00|
|Non-patent eechnology|618,319.00||6,520,225.00|4,815,554.00||2,322,990.00|
|Franchise right|13,720,736.00||0.00|0.00||13,720,736.00|
|Sea use right|89,111,941.00||0.00|0.00||89,111,941.00|
|Electric transmission project|||||||
||442,517,684.00||0.00|0.00||442,517,684.00|
|and microwave project|||||||
|Transportation project|22,468,672.00||0.00|0.00||22,468,672.00|
|II. Total amount of|||||||
||625,712,364.00||20,553,908.00|||646,266,272.00|
|accumulated|||||||
|Software|40,498,645.00||3,569,057.00|0.00||44,067,702.00|
|Land use rights|144,279,332.00||13,700,541.00|0.00||157,979,873.00|
|Non-patent eechnology|109,466.00||39,231.00|0.00||148,697.00|
|Franchise right|6,102,137.00||476,071.00|0.00||6,578,208.00|
|Sea use right|11,024,605.00||894,771.00|0.00||11,919,376.00|
|Electric transmission project|||||||
||402,522,731.00||1,804,322.00|0.00||404,327,053.00|
|and microwave project|||||||
|Transportation project|21,175,448.00||69,915.00|0.00||21,245,363.00|

||||||
|-|-|-|-|-|
|III. Book value of|||||
||1,236,084,026.00|8,070,175.00|4,815,554.00|1,239,338,647.00|
|intangible assets|||||
|Software|17,887,136.00|3,405,076.00||21,292,212.00|
|Land use rights|1,090,693,925.00|1,429,184.00||1,092,123,109.00|
|Non-patent eechnology|508,853.00|6,480,994.00|4,815,554.00|2,174,293.00|
|Franchise right|7,618,599.00|-476,071.00||7,142,528.00|
|Sea use right|78,087,336.00|-894,771.00||77,192,565.00|
|Electric transmission project|||||
||39,994,953.00|-1,804,322.00||38,190,631.00|
|and microwave project|||||
|Transportation project|1,293,224.00|-69,915.00||1,223,309.00|
|IV.Total value of provision|||||
||34,210,978.00|||34,210,978.00|
|for impairment|||||
|Software|0.00|0.00|0.00||
|Land use rights|0.00|0.00|0.00||
|Non-patent eechnology|0.00|0.00|0.00||
|Franchise right|0.00|0.00|0.00||
|Sea use right|0.00|0.00|0.00||
|Electric transmission project|||||
||33,189,374.00|0.00|0.00|33,189,374.00|
|and microwave project|||||
|Transportation project|1,021,604.00|0.00|0.00|1,021,604.00|
|V. Total of Book value of|1,201,873,048.00|||1,205,127,669.00|
|||8,070,175.00|4,815,554.00||
|intangible assets|||||
|Software|17,887,136.00|3,405,076.00||21,292,212.00|
|Land use rights|1,090,693,925.00|1,429,184.00||1,092,123,109.00|
|Non-patent eechnology|508,853.00|6,480,994.00|4,815,554.00|2,174,293.00|
|Franchise right|7,618,599.00|-476,071.00||7,142,528.00|
|Sea use right|78,087,336.00|-894,771.00||77,192,565.00|
|Electric transmission project|||||
||6,805,579.00|-1,804,322.00||5,001,257.00|
|and microwave project|||||
|Transportation project|271,620.00|-69,915.00||201,705.00|

 The amortization amount is RMB20,553,908.00.
19.Goodwill
In RMB
|||||||
|-|-|-|-|-|-|
|Name of investee or event that|Balance in|Increase at this|Decrease at this|Balance in|Impairment|
|generated goodwill|year-begin|period|period|year-end|provision at|

|||||||
|-|-|-|-|-|-|
||||||period-end|
|Acquired Wind power (Business||||||
|combinations involving||||||
||2,449,886.00|0.00|0.00|2,449,886.00|0.00|
|enterprises not under common||||||
|control)||||||
|Total|2,449,886.00|||2,449,886.00||

20. Long-term amortization expenses
In RMB
||||||||
|-|-|-|-|-|-|-|
||Balance in|Increase at this|Amortization||Balance in|Reason for other|
|Items||||Other decrease|||
||year-begin|period|balance||year-end|decrease|
|Leased assets|||||||
||324,905.00|0.00|69,148.00|0.00|255,757.00|Not applicable|
|improve expenses|||||||
|Other|0.00|3,000,000.00|0.00|0.00|3,000,000.00|Not applicable|
|Total|324,905.00|3,000,000.00|69,148.00|0.00|3,255,757.00|--|

 21. Deferred income tax assets/Deferred income tax liabilities
(1）Recognized deferred income tax assets and deferred income tax liabilities
The netting balances of deferred tax assets and liabilities after offsetting
In RMB
||||||
|-|-|-|-|-|
|||Temporarily||Temporarily|
||Deferred Income Tax||Deferred Income Tax||
|||Deductable or||Deductable or|
||Assets or Liabilities||Assets or Liabilities||
|Items||Taxable Difference at||Taxable Difference at|
||at the End of Report||at the Beginning of||
|||the End of Report||the Beginning of|
||Period||Report Period||
|||Period||Report Period|
|Deferred income tax assets：|52,101,276.00|218,384,720.00|47,041,613.00|198,146,066.00|
|Deferred income tax liability：|11,762,696.00|47,050,784.00|12,303,165.00|49,212,660.00|

 Details of taxable differences and deductible differences
In RMB
|||
|-|-|
||Offsetting Amounts|
|Items||
||of This Period|
|The changes of capital government subsidies (assets) and the fair value of an available-for-sale financial||
||8,844,676.00|
|assets recognized in the capital reserves of headquarters||
|The offsetting between the deductable losses (assets) and the depreciation differences (liabilities) resulted||
||637,078.90|
|from the commissioning costs of Zhenneng Thermoelectricity||
|The offsetting between the deductable losses (assets) and the depreciation differences (liabilities) resulted||
||1,980,169.25|
|from the commissioning costs of Zhongyue Energy||

广东电力发展股份有限公司2014年半年度报告全文
22.Detail of asset impairment provision
In RMB
||||||||
|-|-|-|-|-|-|-|
||||Decrease at this period||||
||Balance of book|||||Balance of|
|||Increase at||Withdrawal|Transfer in||
|Items|value at beginning|||||book value at|
|||this period||amount in|||
||of term|||||end of term|
|||||this|||
|1. Bad debt provision|2,024,768.00|1,388,889.00|1,388,889.00|||2,024,768.00|
|2 Inventory impairment provision|39,674,506.00|||||39,674,506.00|
|3. Impairment provision of available-for-sale|||||||
||0.00||||||
|financial assets|||||||
|4 Impairment provision of Holdinvestment|0.00||||||
|5 .Long-term equity investment impairment|||||||
||0.00||||||
|provision|||||||
|7. Fixed asset impairment provision|638,670,372.00|||||638,670,372.00|
|8.Construction in process impairment provision|0.00||||||
|9. Construction in process impairment provision|3,712,587.00|||||3,712,587.00|
|10. The productive biological asset impairment|0.00||||||
|Including：Mature productive biological asset|||||||
||0.00||||||
|impairment|||||||
|12.Intangible assets impairment provision|34,210,978.00|||||34,210,978.00|
|13. Goodwill impairment provision|0.00||||||
|14.Other|0.00||||||
|Total|718,293,211.00|1,388,889.00|1,388,889.00|||718,293,211.00|

 23.Other non-current assets
In RMB
||||
|-|-|-|
|Items|At end of term|At beginning of term|
|Prepay Porject funds|444,965,063.00|340,885,008.00|
|Prepay equipment funds|1,116,307,933.00|986,680,945.00|
|Unrealized loss of sale and leaseback|244,309,306.00|340,381,598.00|
|Total|1,805,582,302.00|1,667,947,551.00|

||||
|-|-|-|
|Items|At end of term|At beginning of term|
|Credit Loans|9,254,795,553.00|9,361,000,000.00|
|Total|9,254,795,553.00|9,361,000,000.00|

 Statement on categories of short-termloans：
On June 30, 2014,Unsecured borrowings amounted to RMB4,635,000,000 is from Yudean Finance (31 December 2013)RMB3,722,000,000)
(b) On June 30, 2014, The Group has no outstanding overdue short-term borrowings.
25.Bills payable
In RMB
||||
|-|-|-|
|Type|At end of term|At beginning of term|
|Commercial acceptance|0.00|1,387,874,618.00|
|Bank acceptance|730,839,198.00|135,248,400.00|
|Total|730,839,198.00|1,523,123,018.00|

 Amount due in next fiscal period is RMB 730,839,198.00.
Statement on Billspayable：
On June 30, 2014, the Group's bank acceptances contained Guangdong Yudean Finance Acceptances of RMB498,839,198.（December 31,2013：RMB135,248,400）
26 Account payable
（1）Account payable
In RMB
||||
|-|-|-|
|Items|At end of term|At beginning of term|
|Fuel payable|2,297,664,109.00|2,217,658,792.00|
|Materials payable|254,461,882.00|400,863,791.00|
|Construction and equipment payable|98,904,222.00|101,009,782.00|
|Other|20,473,597.00|24,332,294.00|
|Total|2,671,503,810.00|2,743,864,659.00|

（2）Statement on payable accounts due for over one year
On June 30, 2014, the balance with ageing over than one year is RMB 100,344,144 ( December 31, 2013:, RMB 122,127,935.
27. Received in advance
（1）Received in advance
In RMB
||||
|-|-|-|
|Items|At end of term|At beginning of term|
|Advance disposal of recyclable resources|974,410.00|184,177.00|

||||
|-|-|-|
|Receive reparations from insurance companies in|||
||900,000.00|900,000.00|
|advance|||
|Total|1,874,410.00|1,084,177.00|

（2）The description of large-sum accounts payable with the age over 1 year:
On June 30, 2014, The Group has no large amount of advance payments aging over one year (December 31, 2013: None)
28. Employee salary of payable
In RMB
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Items|||Book Balance in||Increase in the current||Decrease in the current||Book Balance in|
||||year-begin||period||period||year-end|
||1.Wages, bonuses,|0.00|0.00|526,357,556.00|526,357,556.00|419,571,156.00|419,571,156.00|106,786,400.00|106,786,400.00|
||allowances and|||||||||
||subsidies|||||||||
||2.Employee|7,147,803.00||46,166,866.00||46,166,866.00||7,147,803.00||
||welfare|||||||||
|3. Social insurance||||||||||
|||28,384,404.00||114,915,739.00||107,855,797.00||35,444,346.00||
|premiums||||||||||
|Including：basic||||||||||
|||26,761,103.00||28,665,154.00||22,940,411.00||32,485,846.00||
|Medical insurance||||||||||
|Basic old-age||||||||||
|||1,094,240.00||79,006,565.00||79,064,948.00||1,035,857.00||
|insurance premiums||||||||||
|Unemployment||||||||||
|||526,140.00||2,318,349.00||2,314,975.00||529,514.00||
|insurance||||||||||
|Work injury||||||||||
|||2,921.00||1,949,661.00||1,947,713.00||4,869.00||
|insurance||||||||||
|Maternity insurance||0.00||1,568,859.00||1,565,742.00||3,117.00||
|Annual Fund||0.00||1,407,151.00||22,008.00||1,385,143.00||
|IV. Public reserves||||||||||
|||33,064.00||111,555,323.00||111,553,238.00||35,149.00||
|for housing||||||||||
|V. .Refuse welfare||75,335,671.00||156,000.00||8,151,694.00||67,339,977.00||
|VI.Other||51,340,692.00||33,382,590.00||28,581,145.00||56,142,137.00||
|Total||162,241,634.00||832,534,074.00||721,879,896.00||272,895,812.00||

 The amounts of arrears of staff salary and welfare payable are RMB 0 00.
The amounts of trade union funds and staff education expenses are RMB54,088,100.00, the amounts of
non-monetary benefits are RMB0, and the compensations for the lifting of labor relations is 0.00
The payable salaries, bonuses, allowances, subsidies and employee welfare expenses will be offered and used up
in 2013, the social insurances and the housing funds will be turned in to the relevant government departments in
2013, and the welfare benefits of early retirement staff are expected to give and use up one by one before 2033. 29. Tax Payable
In RMB
||||
|-|-|-|
|Items|At end of term|At beginning of term|
|VAT|256,058,467.00|129,421,638.00|
|Expensiture tax|0.00|0.00|
|Business Tax|1,388,745.00|1,672,250.00|
|Enterprise Income tax|367,264,594.00|582,516,809.00|
|Individual Income tax|5,466,019.00|37,507,160.00|
|City Construction tax|10,359,069.00|7,068,166.00|
|Educational surcharge|5,141,141.00|3,718,359.00|
|Local education surtax|3,105,898.00|2,126,634.00|
|House tax payable|5,577,552.00|6,652,673.00|
|Land use right tax|905,014.00|3,888,653.00|
|Discharge fees|9,818,738.00|6,678,341.00|
|Price regulation fund|5,247,864.00|12,939,800.00|
|Other|3,573,877.00|3,157,261.00|
|Total|673,906,978.00|797,347,744.00|

 30. Interest Payable
In RMB
||||
|-|-|-|
|Items|At end of term|At beginning of term|
|Long-term loans interest of installment and interest|||
||145,293,382.00|32,499,606.00|
|charge|||
|Debenture interest|51,365,468.00|136,065,448.00|
|Short term loan interest payable|25,794,757.00|19,805,165.00|
|Total|222,453,607.00|188,370,219.00|

 31.Dividend payable
In RMB
|||||
|-|-|-|-|
|Company name|Ending balance|Beginning balance|Reason for payment failure for over a year|
|Pay the company's common|||Temporary nonpayment because share holding structure|
||8,504,502.00|7,629,091.00||
|shareholders|||reform was not implemented|
|Shaoguan D Power|3,521,190.00|3,521,190.00|2007 dividend, postponed to pay due to the funding cons|

|||||
|-|-|-|-|
|Generation Plant Co., Ltd.|||traints of Yue Jiang Company|
||||2007 dividend, postponed to pay due to the funding cons|
|Qijiang Electric Company|1,408,476.00|1,408,476.00||
||||traints of Yue Jiang Company|
|Total|13,434,168.00|12,558,757.00|--|

32.Other Payable
（1） Other Payable
In RMB
||||
|-|-|-|
|Name|At end of term|At beginning of term|
|Performance guarantee deposits from construction|166,648,066.00|167,554,270.00|
|Construction and equipment payable|2,510,070,263.00|2,936,657,755.00|
|Volume Purchase payable|33,000,000.00|120,400,000.00|
|Advance from shaoguan Electric Power plant|42,983,169.00|33,206,172.00|
|Other|121,149,990.00|173,056,516.00|
|Total|2,873,851,488.00|3,430,874,713.00|

（2）Statement on large amount other payable accounts due for over one year
On June 30, 2014, large payables aged over one year was RMB 857,485,653 (December
31,2013:RMB1,060,021,314), mainly used to cope with project funds and retention money. Since the project has not finished the project and acceptance and final settlement or in the warranty period of acceptance, the project fu nds and retention money has not been settled.
（3）Statement on large amount other payable accounts
Mainly represent the performance guarantee deposits from construction and equipment suppliers, and they have not been settled.
33. Non-current liabilities due within one year
（1）Non-current liabilities due within one year
In RMB
||||
|-|-|-|
|Name|At end of term|At beginning of term|
|Long-term loans due in 1 year|1,973,381,284.00|1,451,668,930.00|
|Bonds payable due in 1 year|1,998,197,649.00|0.00|
|Long-term payable due in 1 year|421,188,880.00|639,073,258.00|
|Total|4,392,767,813.00|2,090,742,188.00|

广东电力发展股份有限公司2014年半年度报告全文
（2）Long-term loans due in 1 year
Long-term loans due in 1 year
In RMB
||||
|-|-|-|
|Name|At end of term|At beginning of term|
|Pledge loans|131,540,000.00|145,020,000.00|
|Mortgage loans|60,000,000.00|60,000,000.00|
|Guarantee loans|0.00|0.00|
|Credit loans|1,781,841,284.00|1,246,648,930.00|
|Total|1,973,381,284.00|1,451,668,930.00|

 Among the long-term loans due in 1 year, the loans overdue but extended is amounted to RMB 0.
Top 5 long-term loans due in 1 year
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||||||Year-end balance|||Year-beginning balance|||
||Loans|Loans ending||Interest rate||Amount of|Amount ofRMB||Amount of|Amount ofRMB|
|Loan unit|||Currency||||||||
||starting date|date||(%)||Foreign|||Foreign||
|||||||currency|||currency||
|Bank of|||||||||||
||||||||599,800,000.||||
|Communicati|June 6, 2013|June 4, 2015|RMB|6.15%||||||0.00|
||||||||00||||
|ons|||||||||||
|Bank of|||||||||||
||||||||599,800,000.||||
|Communicati|June 7, 2013|June 5, 2015|RMB|6.15%||||||0.00|
||||||||00||||
|ons|||||||||||
|China|||||||||||
||January 13,|December|||||70,000,000.0|||140,000,000.|
|Constrcution|||RMB|5.90%|||||||
||2006|31, 2021|||||0|||00|
|Bank|||||||||||
||||||||59,600,000.0|||59,600,000.0|
|Bank of China|April 8, 2005|June 20, 2023|RMB|5.90%|||||||
||||||||0|||0|
|China|||||||||||
|||December|||||59,600,000.0|||59,600,000.0|
|Constrcution|June 1, 2005||RMB|5.90%|||||||
|||21, 2023|||||0|||0|
|Bank|||||||||||
||||||||1,388,800,00|||259,200,000.|
|Total|--|--|--|--|--|||--|||
||||||||0.00|||00|

（3）Bonds payable due in 1 year
In RMB
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||Date of||Issuing|Interest|Interest|Interest paid|Interest|End of|
|Bond|Face value||Bond term|||||||
|||issue||amount|payable at|occurred|this period|payable at|balance|

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||||beginning|this period||end of||
||||||of period|||period||
|2008 Guang||||||||||
|dong Electri||||||||||
|c Power De||||||||||
||2,000,000,0|March 10,||2,000,000,0|89,205,448.|54,999,981.|109,999,962|34,205,467.|1,998,197,6|
|velopment|||7 Years|||||||
||00.00|2008||00.00|00|00|.00|00|49.00|
|Co., Ltd. co||||||||||
|mpany bond||||||||||
|s||||||||||

（4）Long-term payable account due in 1 year
In RMB
||||||||
|-|-|-|-|-|-|-|
|Loans from|Term|Initial amount|Interest rate(%）|Interest payable|End balance|Condition|
|Jinghai Power|||||||
||Within 1 year|1,000,000,000.00|5.57%|41,338,141.00|90,315,021.00|Financing leasing|
|Generation|||||||
|Jinghai Power|||||||
||Within 1 year|600,000,000.00|6.55%|26,043,930.00|94,264,604.00|Financing leasing|
|Generation|||||||
|ZhongyueEnergy|Within 1 year|600,000,000.00|5.57%|16,235,518.00|38,373,618.00|Financing leasing|
|Yuejiang Power|||||||
||Within 1 year|300,000,000.00|5.54%|6,212,654.00|110,287,258.00|Financing leasing|
|Generation|||||||
|Yuejiang Power|||||||
||Within 1 year|282,600,000.00|5.54%|7,398,719.00|87,702,893.00|Financing leasing|
|Generation|||||||

34.Other current liabilities
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-Beginning balance|
|Short-term Financing bonds|0.00|1,348,750,493.00|
|Total|0.00|1,348,750,493.00|

 35. Long-term loan
（1）Long-term loans classifications
In RMB
||||
|-|-|-|
|Items|Year-end balance|Year-Beginning balance|
|Pledge loans|494,956,340.00|547,236,340.00|
|Mortgage loans|543,600,000.00|543,600,000.00|
|Guarantee loans|1,552,000,000.00|1,552,000,000.00|

广东电力发展股份有限公司2014年半年度报告全文
||||
|-|-|-|
|Credit loans|14,776,349,639.00|12,629,167,221.00|
|Total|17,366,905,979.00|15,272,003,561.00|

 (2)Top 5 long-term loans due in 1 year
In RMB
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
||||||Year-end balance|||Year-beginning balance|||
||Loans|Loans ending||Interest rate||Amount of|Amount ofRMB||Amount of|Amount ofRMB|
|Loan unit|||Currency||||||||
||starting date|date||(%)||Foreign|||Foreign||
|||||||currency|||currency||
|Syndicated|||||||||||
|loans|||||||||||
||November|November|||||4,098,757,70|||3,698,757,70|
|（ICBC as the l|||RMB|5.90%|||||||
||25, 2010|27, 2030|||||0.00|||0.00|
|eading agency|||||||||||
|）|||||||||||
|Syndicated|||||||||||
|loans|||||||||||
|（Agricaultural|December|December 3,|||||1,720,500,00|||1,776,000,00|
||||RMB|5.90%|||||||
|Bank of China|14, 2007|2025|||||0.00|||0.00|
|as the leading|||||||||||
|agency）|||||||||||
|Taiping Assets|||||||||||
||August 14,|August 13,|||||1,500,000,00|||1,500,000,00|
|Management|||RMB|5.83%|||||||
||2013|2020|||||0.00|||0.00|
|Co., Ltd.|||||||||||
|Syndicated|||||||||||
|loans (Bank of|||||||||||
|Chin and|||||||||||
||January 15,|January 14,|||||1,380,000,00||||
|Guangdong|||RMB|5.90%||||||0.00|
||2014|2028|||||0.00||||
|Yudean Finance|||||||||||
|Co., Ltd.as the|||||||||||
|leading agency)|||||||||||
|Syndicated|||||||||||
|loans (Bank of|||||||||||
|Communication|||||||||||
|s and|December|December|||||1,304,400,00|||21,000,000.0|
||||RMB|5.90%|||||||
|Guangdong|25, 2013|24, 2028|||||0.00|||0|
|Yudean Finance|||||||||||
|Co., Ltd. as the|||||||||||
|leading agency)|||||||||||
||||||||10,003,657,7|||6,995,757,70|
|Total|--|--|--|--|--|||--|||
||||||||00.00|||0.00|

36.Bond payable
In RMB
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
||||||Interest|||Interest||
|||||||Interest||||
|||Date of||Issuing|payable at||Interest paid|payable at||
|Bond|Face value||Bond term|||occurred|||End balance|
|||issue||amount|beginning||this period|end of||
|||||||this period||||
||||||of period|||period||
|The||||||||||
|Company||||||||||
|Bonds of||||||||||
|Guangdong||||||||||
||1,200,000,0|March 18,||1,200,000,0|46,860,000.|29,700,000.|59,400,000.|17,160,000.|1,194,285,7|
|Electric|||7 Years|||||||
||00.00|2013||00.00|00|00|00|00|37.00|
|Power||||||||||
|Developme||||||||||
|nt Co., Ltd.||||||||||
|In 2013||||||||||

37.Long-term payable
（1）Top 5 long-term payable
In RMB
||||||||
|-|-|-|-|-|-|-|
|Name|Term|Initial amount|Interest rate（%）|Interest payable|End balance|Condition|
|Jinghai Power|||||||
||10 years|1,000,000,000.00|5.57%|115,909,161.00|640,196,523.00|Financing leasing|
|Generation|||||||
|Jinghai Power|||||||
||6 years|600,000,000.00|6.55%|31,169,389.00|305,203,043.00|Financing leasing|
|Generation|||||||
|ZhongyueEnergy|10 years|600,000,000.00|5.57%|61,367,661.00|352,509,611.00|Financing leasing|
|Yuejiang Power|||||||
||3 years|300,000,000.00|5.54%|1,625,086.00|46,829,297.00|Financing leasing|
|Generation|||||||
|Yuejiang Power|||||||
||5 years|282,600,000.00|5.54%|2,523,621.00|68,081,451.00|Financing leasing|
|Generation|||||||

（2）Details of finance leasing payments in long-term payable
In RMB
||||||
|-|-|-|-|-|
||End of term||Beginning of term||
|Name|||||
||Foreign currency|RMB|Foreign currency|RMB|
|Yuejiang Power Generation||330,936,724.00||400,587,137.00|
|Jinghai Power Generation||1,689,739,053.00||1,217,440,807.00|

||||
|-|-|-|
|Zhongyue Energy|769,824,001.00|666,416,180.00|
|Red Bay||442,985,028.00|
|Total a|2,790,499,778.00|2,727,429,152.00|

 Guarantee provided by the
3rd
party for the leasing finance is amounted to RMB0.
38.Special payable
In RMB
|||||||
|-|-|-|-|-|-|
||Beginning of|Increased this|Decreased thisterm|||
|Items||||End of term|Remarks|
||term|term||||
|Relocation compensation|10,779,740.00|0.00|4,161,463.00|6,618,277.00||
|Total|10,779,740.00|0.00|4,161,463.00|6,618,277.00|--|

39.Other Non-current liabilities
In RMB
||||||
|-|-|-|-|-|
||Items|Year-end balance||Year-beginning balance|
|Proceeds of sale and leaseback financing fixed assets|||||
|||13,562,083.00|19,188,778.00||
|Govemment Subsidy||92,984,539.00|72,488,962.00||
|Total||106,546,622.00|91,677,740.00||

 In RMB
||||||||
|-|-|-|-|-|-|-|
||||Amount recorded||||
|||New subsidy||||Related to|
||Year-beginning||into non-operating||Year-end||
|Items||amount in the||Other changes||assets/Related to|
||balance||income in the||balance||
|||reporting period||||income revenue|
||||reporting period||||
|The unit 5|||||||
|desulfurization|15,384,616.00|0.00|1,538,462.00|0.00|13,846,154.00|Related to assets|
|project|||||||
|Flow expansion|||||||
||5,200,938.00|0.00|0.00|0.00|5,200,938.00|Related to assets|
|renovation project|||||||
|Energy saving|3,060,000.00|0.00|0.00|0.00|3,060,000.00|Related to assets|
|Reduce nitrogen denit|||||||
||3,803,419.00|0.00|0.00|0.00|3,803,419.00|Related to assets|
|ration project|||||||
|Air preheater|||||||
|transformation|3,274,872.00|0.00|0.00|0.00|3,274,872.00|Related to assets|
|project|||||||
|The refund of VAT|||||||
|received due to|||||||
||28,517,767.00|0.00|1,500,000.00|0.00|27,017,767.00|Related to assets|
|purchasing|||||||
|homemade|||||||

||||||||
|-|-|-|-|-|-|-|
|equipment.|||||||
|Water-freshing|||||||
||1,692,308.00|0.00|0.00|0.00|1,692,308.00|Related to assets|
|project|||||||
|Levy compensation|||||||
||0.00|23,200,000.00|0.00|0.00|23,200,000.00|Related to assets|
|for project relocation|||||||
|Competition Fund of|||||||
|State-owned Assets|||||||
||11,333,333.00|0.00|0.00|0.00|11,333,333.00|Related to income|
|Regulatory|||||||
|Commission|||||||
|Port and port construc|||||||
||221,709.00|334,039.00|0.00|0.00|555,748.00|Related to income|
|tion fees|||||||
|Total|72,488,962.00|23,534,039.00|3,038,462.00|0.00|92,984,539.00|--|

40. .Stock capital
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|||Increase/decrease this time (+ , - )Issuing of new TransferredBonus shares Other Subtotalshare from reserves||||||
||Balance||||||Balance|
|||||Transferred||||
||Year-beginning||Bonus shares||Other|Subtotal|year-end|
|||||from reserves||||
|Total of capital|4,375,236,6550|.0.000|||||4,375,236,655.00|
||||0.00|0.00|0.00|0.00||
|shares||||||||

 .
41 Capital reserves
In RMB
||||||||
|-|-|-|-|-|-|-|
|Items|Year-beginningbalance||Increase in the current||Decrease in the|Year-end balance|
||||period||current period||
|Share premium|4,439,517,054.00|||||4,439,517,054.00|
|Other capital reserves|35,357,344.00|0.00||8,823,313.00||26,534,031.00|
|Estimate Increase|119,593,718.00|||||119,593,718.00|
|Transfer from the balance of|||||||
|capital surplus recognised under|20,474,592.00|||||20,474,592.00|
|previous accounting|||||||
|Investment from Yudean Group|395,000,000.00|||||395,000,000.00|
|Enjoy the rights of associated e|||||||
||33,174,718.00|||||33,174,718.00|
|nterprise base on share holding|||||||
|||||||0.00|
|Other|1,601,300.00|||||1,601,300.00|
|Total|5,044,718,726.00|0.00||8,823,313.00||5,035,895,413.00|

42. Surplus reserve
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
|Items||Year-beginning||Increase in the current||Decrease in the|Year-end balance|
|||balance||period||current period||
|Statutory surplus reserve|1,674,052,767.00||173,523,454.00||0.00||1,847,576,221.00|
|Optional surplus reserves|2,529,518,509.00||433,808,635.00||0.00||2,963,327,144.00|
|Total|4,203,571,276.00||607,332,089.00||0.00||4,810,903,365.00|

 43. Retained profits
In RMB
|||||
|-|-|-|-|
|Items||Amount|Proportion(%)|
||Before adjustments: Retained profits at the|5,431,387,393.00|--|
||period end|||
||Adjustments: Total retained profits at the period|0.00|--|
||beginning （+，-）|||
|After adjustments: Retained profits at the period||5,431,387,393.00||
||||--|
|beginning||||
|Add：Net profit belonging to the owner of the||||
|||1,644,460,546.00|--|
|parent company||||
|Less：Drawing statutory surplus reserve||173,523,454.00|10.00%|
|Drawing discretionary surplus reserve||433,808,635.00|25.00%|
|DrawingCommon risk provision||0.00||
|Payable dividends of common shares||875,047,331.00||
|Retained profits at the period end||5,593,468,519.00|--|

As regards the details of adjusted the beginning undistributed profits
(1)As the retroactive adjustment on Enterprise Accounting Standards and its related new regulations, the affected beginning undistributed profits are RMB 0.00.
(2) As the change of the accounting policy, the affected beginning undistributed profits are RMB 0.00.
(3) As the correction of significant accounting error, the affected beginning undistributed profits are RMB 0.00 . (4) As the change of consolidation scope caused by the same control, the affected beginning undistributed profits
are RMB 0.00.
(5) Other adjustment of the total affected beginning undistributed profits are RMB 0.00 .
Statement on retained profit: for companies issued their securities for the first time, if the accumulated profit before the issuing is shared by the new and existing shareholders as approved by theshareholders’ meeting, shall be described particularly; if the accumulated profit before the issuing is shared only by existing shareholders as approved by theshareholders’ meeting, the Company shall provide the details of dividend payable to the existing shareholders as audited by CPA.
44. Business income, Business cost
（1）Business income, Business cost
In RMB
|||||||
|-|-|-|-|-|-|
||Items||Amount of current period||Amount of previous period|
|Income from Business income||14,899,869,105.00||14,459,447,415.00||
||Other Business income||71,444,541.00||87,580,057.00|
|Business cost||10,982,443,113.00||11,025,868,327.00||

（2）Mainbusiness（Industry）
In RMB
||||||||
|-|-|-|-|-|-|-|
|Name||Amount of current period|||Amount of previous period||
||Business income||Business cost|Business income||Business cost|
|Generate electricity|14,844,828,982.00||10,917,563,793.00|14,409,858,983.00||10,949,388,014.00|
|Supply of heat|42,303,774.00||33,357,085.00|36,352,088.00||30,989,583.00|
|Labour service|12,736,349.00||14,654,707.00|13,236,344.00||11,052,171.00|
|Total|14,899,869,105.00||10,965,575,585.00|14,459,447,415.00||10,991,429,768.00|

（3）Mainbusiness（Production）
In RMB
||||||||
|-|-|-|-|-|-|-|
|Name||Amount of current period|||Amount of previous period||
||Business income||Business cost|Business income||Business cost|
|Power sales|14,844,828,982.00||10,917,563,793.00|14,409,858,983.00||10,949,388,014.00|
|Heat supply|42,303,774.00||33,357,085.00|36,352,088.00||30,989,583.00|
|Provide labor service|12,736,349.00||14,654,707.00|13,236,344.00||11,052,171.00|
|Total|14,899,869,105.00||10,965,575,585.00|14,459,447,415.00||10,991,429,768.00|

（4）MainBusiness（Area）
In RMB
||||||||
|-|-|-|-|-|-|-|
|Name||Amount of current period|||Amount of previous period||
||Business income||Business cost|Business income||Business cost|
|Guangdong|14,899,869,105.00||10,965,575,585.00|14,459,447,415.00||10,991,429,768.00|
|Total|14,899,869,105.00||10,965,575,585.00|14,459,447,415.00||10,991,429,768.00|

（5）Total income and the ratio of operating income from top five clients
In RMB
|||||||
|-|-|-|-|-|-|
||Name||Business Income||Proportion(%)|
|GPGC||13,984,430,090.95||93.41%||
|GPGC,Shenzhen SupplyPower||||||
|||769,353,624.11||5.14%||
|Bureau||||||
|GPGC,Zhanjiang SupplyPower||||||
|||55,561,192.59||0.37%||
|Bureau||||||
|GPGC,Jieyang SupplyPower||||||
|||35,484,074.15||0.24%||
|Bureau||||||
|Huizhou Huiling Huacheng Co.,||||||
|||29,400,716.43||0.20%||
|Ltd.||||||
|Total||14,874,229,698.23||99.36%||

 45. Business taxes and surcharges
In RMB
|||||||
|-|-|-|-|-|-|
|Items||Amount of current||Amount of previous|Project payment standard|
|||period||period||
|Business tax|2,205,231.00||1,921,755.00||Taxable turnover, 5% and 3%.|
|City maintenance and construction|||||Actually paid value added tax and|
||45,487,117.00||51,658,693.00|||
|tax|||||business tax, 5% and 7%.|
||||||Actually paid value added tax and|
|Surcharge for education|22,784,654.00||27,931,937.00|||
||||||business tax, 3 %.|
||||||Actually paid value added tax and|
|Local education surtax|15,189,770.00||18,621,292.00|||
||||||business tax, 2%.|
|Tax|85,666,772.00||100,133,677.00||--|

46.Selling expenses
In RMB
|||||||
|-|-|-|-|-|-|
||Items||Amount of current period||Amount of previous period|
|Sales expenses||1,471,882.00||1,753,357.00||
|Total||1,471,882.00||1,753,357.00||

 47. Administrative expenses
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|

||||
|-|-|-|
|Employee’s remuneration|158,689,241.00|150,317,543.00|
|Depreciation expenses|24,294,734.00|23,694,383.00|
|Repair expenses|4,234,406.00|4,828,049.00|
|Office expenses|6,822,510.00|6,649,372.00|
|Insurance|1,151,813.00|2,025,435.00|
|Travel expenses|3,007,457.00|4,016,178.00|
|Board of directors|1,908,272.00|2,648,746.00|
|Customers|6,944,453.00|9,629,076.00|
|Lowsuit expenses|1,166,472.00|1,895,738.00|
|Amortiation of Intangible assets|20,516,995.00|22,825,211.00|
|Effluent charges|24,697,292.00|28,162,994.00|
|Consulting fee|1,778,815.00|2,102,357.00|
|Agency Charge|3,000,313.00|8,126,935.00|
|Tax fee|67,553,155.00|52,031,006.00|
|Property Management|12,274,379.00|11,004,037.00|
|Fireman’s charge|12,408,143.00|13,153,896.00|
|Embankment protection fees|8,414,776.00|10,040,087.00|
|Health afforestation fees|3,871,410.00|7,237,013.00|
|Other|33,819,876.00|40,982,779.00|
|Total|396,554,512.00|401,370,835.00|

 48.Financial expenses
In RMB
|||||||
|-|-|-|-|-|-|
||Items||Amount of current period||Amount of previous period|
|Interest expenses||913,312,263.00||997,545,951.12||
|Interest income||-29,331,087.00||-21,327,285.00||
|Other||3,905,314.00||7,111,906.88||
|Total||887,886,490.00||983,330,573.00||

 49. Investment income
（1）Income from investment
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|
|Long-term equity investment income by costing|12,862,500.00|12,862,500.00|

|||||
|-|-|-|-|
||Long-term equity investment income by equity|336,254,319.00|348,882,444.00|
||method|||
|Hold the investment income which gained from the||||
|||607,511.00|9,764,014.00|
|transactional financial assets||||
|Hold the investment income during from||||
|||2,100,000.00|7,503,870.00|
|available-for-sale financial assets||||
|Other||-1,707,750.00|342,586.00|
|Total||350,116,580.00|379,355,414.00|

（2）long-term equity investment gains on cost basis
In RMB
|||||
|-|-|-|-|
|||Occurred in previous||
|Company|Occurred current term||Causation of change|
|||term||
|Shenzhen Chuangxin Technology||||
||12,862,500.00|12,862,500.00||
|Investment Co., Ltd.||||
|Total|12,862,500.00|12,862,500.00|--|

（3）Long-term equity investment gains on equity basis
In RMB
|||||
|-|-|-|-|
|||Occurred in previous||
|Company invested in|Occurred current term||Causation of change|
|||term||
|Yangshan Jiangkeng Waater Electric||||
||0.00|0.00||
|Station||||
|Yangshan Zhongxinkeng Electric||||
||723,608.00|0.00||
|Company||||
|Yudean West Investment|-568,387.00|-2,304,294.00||
|Lingchang Yuntou Yudean|-970,058.00|-1,358,517.00||
|Guangdong Yudean Shipping|5,528,070.00|876,582.00||
||||Capitalization of interest of machine|
||||production stopped, financial costs|
|Weixin Yuntou Yudean|-15,572,033.00|19,555,698.00||
||||increased led to profit fell compared|
||||with same period last year.|
|Huaneng Shantou Wind Power||||
||3,227,933.00|2,828,476.00||
|Generation Co., Ltd.||||
||||Since the price of coal per ton decrease|
|Shanxi Yuedian Energy Co., Ltd.|41,187,369.00|61,698,543.00|d greater compared with same period la|
||||st year, its earnings fell declined accord|

广东电力发展股份有限公司2014年半年度报告全文
|||||
|-|-|-|-|
||||ingly.|
|Guangdong Yudean Finance Co., Ltd.|47,508,098.00|47,704,241.00||
|Yunnan Baoshan Binlangjiang|-7,470,355.00|-11,937,000.00||
|Guangdong Electric Industry Fuel Co.,||||
||43,086,571.00|34,386,531.00||
|Ltd.||||
||||Since coal prices declined, Taishan Po|
|Guangdong Guohua Yuedian Taishan||||
||219,573,503.00|197,432,184.00|wer Plant profit increased over the sam|
|Power Generation Co., Ltd.||||
||||e period last year|
|Total|336,254,319.00|348,882,444.00|--|

50. .Loss of assets impairment
In RMB
|||||||
|-|-|-|-|-|-|
||Name||Amount of current period||Amount of previous period|
|1. Bad debts losses||-1,388,889.00||||
|2. Inventory falling price losses||-673,399.00||10,000,000.00||
|7. loss for devaluation of fixed assets||||7,500,000.00||
|Total||-2,062,288.00||17,500,000.00||

 51. Non-operating income
（1） Non-operating income
In RMB
|||||||
|-|-|-|-|-|-|
|Items||Amount of currentperiod|Amount of previousperiod||Amount recorded in|
||||||current non-operating|
||||||gains and losses\|
||Total income from liquidation of|1,616,440.00|38,922.00|1,616,440.00|1,616,440.00|
||non-current assets|||||
||Including：Income from liquidation of|1,060,795.00|38,922.00|1,060,795.00||
||fixed asset|||||
|Intangible assets disposal gains||555,645.00|0.00|555,645.00||
|Government Subsidy||13,994,880.00|8,677,089.00|9,328,461.00||
|Other||1,344,011.00|13,328,992.00|1,344,011.00||
|Total||16,955,331.00|22,045,003.00|10,944,901.00||

（2）Government subsidy list
In RMB
||||||
|-|-|-|-|-|
|Items|Amount of currentperiod|Amount of previousperiod|Related to|Belong to|
||||assets/related to|non-recurring profit|
||||income revenue|and loss or not|

广东电力发展股份有限公司2014年半年度报告全文
||||||
|-|-|-|-|-|
|Income of levy and refun|||||
||4,666,419.00|1,846,628.00|Related to income|No|
|d of VAT|||||
|Amortization of Govern|||||
||3,038,461.00|1,538,461.00|Related to assets|Yes|
|ment Subsidy|||||
|River seawall reinforcem|||||
||2,030,000.00|1,700,000.00|Related to income|Yes|
|ent grants|||||
|Energy conservation|||||
||2,760,000.00|2,370,000.00|Related to income|Yes|
|Subsidy|||||
|Other|1,500,000.00|1,222,000.00|Related to income|Yes|
|Total|13,994,880.00|8,677,089.00|--|--|

52. Non-operating expenses
In RMB
||||||
|-|-|-|-|-|
|Items|Amount of current|Amount of previousperiod||Amount recorded in|
||period|||current non-operating|
|||||gains and losses\|
|Total Disposal of loss of non-current assets|20,960,267.00|190,368.00|20,960,267.00||
|Including：Disposal of net loss of fixed assets|20,948,267.00|190,368.00|20,948,267.00||
|Intangible assets disposal losses|12,000.00|0.00|12,000.00||
|Foreign donations|555,678.00|0.00|555,678.00||
|Other|4,763,600.00|1,001,914.00|117,387.00||
|Total|26,279,545.00|1,192,282.00|25,606,480.00||

 53. .Income tax expenses
In RMB
|||||||
|-|-|-|-|-|-|
||Items||Amount of current period||Amount of previous period|
|Income tax at current period according to taxation and related||||||
|||639,926,159.00||449,368,961.00||
|regulation||||||
|Adjustment Deferred income tax||-2,659,028.00||44,541,603.00||
|Total||637,267,131.00||493,910,564.00||

ordinary shares
Weighted average number of ordinaryshares 4,375,236,655 4,375,236,655
issued to the public
Basic earnings per share 0.38 0.31
(b)Diluted earnings per share
Diluted earnings per share is calculated b dividing the current net profits belonging totheshareholders of ordinary shares by the weighted average number of ordinary shares and diluted potential ordinary shares issued to the public. In June 30, 2014 and June 31, 2013, the Group has no diluted potential ordinary shares, and basic earnings per share are the same with Diluted earnings per share.
55. Other comprehensive income
In RMB
|||||||
|-|-|-|-|-|-|
||Items||Amount of current period||Amount of previous period|
|1.Loss amount produced by sellable financial assets||-11,764,417.00||-42,409,995.00||
|Less：Deduct: income tax infection produced by sellable||||||
|||-2,941,104.00||-10,602,499.00||
|financial assets||||||
|Subtotal||-8,823,313.00||-31,807,496.00||
|Total||-8,823,313.00||-31,807,496.00||

 56.Notes of Cash flow statement
（1）Cash received related to other operating activities
In RMB
|||
|-|-|
|Items|Amount|
|Interest income|25,942,328.00|
|Government Subsidy|47,873,866.00|
|Insurance indemnity|24,301,649.00|
|Rent income|1,651,908.00|
|Other|7,712,902.00|
|Total|107,482,653.00|

（2） Cash paid related to other operating activities
In RMB
|||
|-|-|
|Items|Amount|
|Swwage charge|91,332,963.00|
|Insurance expenses|29,082,708.00|
|Equipment cleaning and hygiene green fee|13,782,658.00|
|Transportation fee|1,517,412.00|
|Fire guard fee|13,955,393.00|

|||
|-|-|
|Business fee|6,944,453.00|
|Agency Charge|3,100,917.00|
|Embankment protection fees|3,450,976.00|
|Office Expenses|8,440,402.00|
|Travel expenses|4,993,524.00|
|Rental fee|7,984,698.00|
|Test fee|1,711,807.00|
|Enterprise publicity expenses|2,545,326.00|
|Director fee and other conference fee|2,607,202.00|
|Land use fees and sea areas use fees|3,668,629.00|
|Information system maintenance|2,431,121.00|
|Water and electrical|5,633,321.00|
|R&D development|2,481,476.00|
|Property Management fee|15,198,809.00|
|Deposit|8,111,859.00|
|Union expenses|12,885,806.00|
|Other|38,014,925.00|
|Total|279,876,385.00|

 57. Supplement Information for cash flow statement
（1）Supplement Information for cash flow statement
In RMB
|||||||
|-|-|-|-|-|-|
||Supplement Information||Amount of current period||Amount of previous period|
|I. Adjusting net profit to cash flow from operating activities||--||--||
||Net profit|2,322,878,400.00||1,923,368,274.00||
||Add: Impairment loss provision of assets||-673,399.00||17,500,000.00|
||Depreciation of fixed assets, oil and gas assets and|1,813,737,659.00|1,813,737,659.00|1,723,798,366.00|1,723,798,366.00|
||consumable biological assets|||||
||Amortization of intangible assets||20,516,995.00||22,828,253.00|
|Loss on disposal of fixed assets, intangible assets and other||||||
|||19,343,827.00||38,922.00||
|long-term deferred assets||||||
||Financial cost||913,552,263.00||1,004,657,858.00|
||Loss on investment||-351,016,013.00||-379,355,414.00|
||Decrease of deferred income tax assets||-2,118,559.00||26,733,840.00|
||Increased of deferred income tax liabilities||-540,469.00||17,807,763.00|

||||||
|-|-|-|-|-|
|Decrease of inventories||-126,397,729.00|-130,296,757.00||
||Decease of operating receivables|607,460,042.00||-151,298,282.00|
|Increased of operating Payable||-682,613,106.00|1,247,508,038.00||
|Net cash flows arising from operating activities||4,534,129,911.00|5,323,290,861.00||
|II. Significant investment and financing activities that|||||
|||--|--||
|without cash flows:|||||
|III. Net increase of cash and cash equivalents||--|--||
|Ending balance of cash||5,144,118,327.00|5,601,716,771.00||
|Less: Beginning balance of cash||4,377,311,176.00|2,813,898,537.00||
|Net increase of cash and cash equivalents||766,807,151.00|2,787,818,234.00||

（2）Information on acquiring or disposing subsidiary company and other business unit at this period.
In RMB
||||||
|-|-|-|-|-|
||Supplement Information|Amount of current period||Amount of previous period|
|I. Acquisition of subsidiaries and businesses||--|--||
|II. Disposal of subsidiaries and bushiness||--|--||

（3）Composition of cash and cash equivalents
In RMB
||||||
|-|-|-|-|-|
||Items|Amount of current period||Amount of previous period|
||I. Cash|5,144,118,327.00|4,377,311,176.00||
||Of which: Cash in stock|118,566.00||133,621.00|
|Bank savings could be used at any time||5,103,999,761.00|4,374,748,572.00||
|Other monetary funds on demand||40,000,000.00|2,428,983.00||
|III. Balance of cash and cash equivalents at the period end||5,144,118,327.00|4,377,311,176.00||

 VIII.. Related parties and related-party transactions
1. Parent company information of the enterprise
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|||||||||Vote right|||
||||||||Share ratio||||
|||||||||ratio of|||
||||||||of parent||||
|Parent||||Legal|Businesscharacter|||parent|Ultimate||
||Related|Enterprise|Registratio|||Registered|company|||Organizati|
|company||||representa||||company|controlling||
||parties|type|n place|||capital|against the|||on code|
|name||||tive||||against the|party||
||||||||company(||||
|||||||||company(|||
||||||||%)||||
|||||||||%)|||
|Guangdong|Controllin|State|Guangzho|Pan Li|Power|21,500,000|67.39%|67.39%|Yudean|73048602-|

|||||||||
|-|-|-|-|-|-|-|-|
|Yudean g||holding|u|plant|,000|Group|2|
|Group s|hareholde|||opera||||
|||||ting,e||||
|r||||||||
|||||lectri||||
|||||city||||
|||||assets||||
|||||mana||||
|||||geme||||
|||||nt,||||
|||||electr||||
|||||icity||||
|||||generation||||

2. Subsidiary companies information of the enterprise
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Full name||||||||||
||Subsidiary|||Legal|||Share|||
|of||Enterprise|Registration||Business|Registered||Vote right|Organizatio|
||company|||representati|||holding|||
|subsidiary||type|area||character|capital||ratio (%)|n code|
||type|||ve|||ratios(%)|||
|company||||||||||
|Zhenneng||Limitedliabi||||||||
||Controlling|||||1,019,535,5||||
|Electric||lity|Maoming|Hu Xiaolei|Electric||58.27%|58.27%|7665659-8|
||Subsidiary|||||00.00||||
|Power plant||Company||||||||
|Jinghai||Limitedliabi||||||||
||Controlling|||Li||2,919,272,0|||77307022-|
|Power||lity|Jieyang||Electric||65.00%|65.00%||
||Subsidiary|||Mingliang||00.00|||X|
|Generation||Company||||||||
|Zhanjiang|Controlling|Foreign||||346,110,000||||
||||Zhanjiang|Yao Jiheng|Electric||70.00%|60.00%|79295197-0|
|Wind Power|Subsidiary|investment||||.00||||
|Anxin||||||||||
|||Limitedliabi||||||||
|Electric|Controlling|||||20,000,000.||||
|||lity|Dongguan|Hu Xiaolei|Electric||100.00%|100.00%|66498489-0|
|Power|Subsidiary|||||00||||
|||Company||||||||
|Maintenance||||||||||
|Humen||Limitedliabi||||||||
||Controlling|||||150,000,000||||
|Electric||lity|Dongguan|Yao Jiheng|Electric||60.00%|60.00%|68056908-0|
||Subsidiary|||||.00||||
|Power Plant||Company||||||||
|Bohe||Limitedliabi||||||||
||Controlling|||Luo||1,085,000,0||||
|Electric||lity|Maoming||Electric||100.00%|100.00%|55168364-5|
||Subsidiary|||Zhiheng||00.00||||
|Power Plant||Company||||||||
|||Limitedliabi||||||||
|Yuheng|Controlling|||Shen||20,000,000.||||
|||lity|Zhanjiang||Electric||76.00%|76.00%|78942832-9|
|Electronic|Subsidiary|||Mingde||00||||
|||Company||||||||
|Xuwen|Controlling|Limitedliabi||||173,190,000||||
||||Zhanjiang|Yao Jiheng|Electric||70.00%|60.00%|69473177-1|
|Wind|Subsidiary|lity||||.00||||

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Power||Company||||||||
|||Limitedliabi||||||||
|Huadu|Controlling|||||120,000,000||||
|||lity|Guangzhou|Wen Lianhe|Electric||65.00%|65.00%|06114033-0|
|Natural gas|Subsidiary|||||.00||||
|||Company||||||||
|||Limitedliabi||||||||
|Dapu Power|Controlling|||||700,000,000||||
|||lity|Meizhou|Yao Jiheng|Electric||100.00%|100.00%|06145024-0|
|Generation|Subsidiary|||||.00||||
|||Company||||||||
|||Limitedliabi||||||||
|Leizhou|Controlling|||||20,000,000.||||
|||lity|Leizhou|Yao Jiheng|Electric||70.00%|60.00%|06512991-3|
|Wind Power|Subsidiary|||||00||||
|||Company||||||||
|||Limitedliabi||||||||
|Dianbai|Controlling|||Luo||121,872,900||||
|||lity|Maoming||Electric||100.00%|100.00%|61781904-0|
|Wind Power|Subsidiary|||Zhiheng||.00||||
|||Company||||||||
|Zhanjiang||Limitedliabi||||||||
||Controlling|||||2,875,440,0||||
|Electric||lity|Zhanjiang|Liu Qian|Electric||76.00%|76.00%|23210093-2|
||Subsidiary|||||00.00||||
|power||Company||||||||
|Yuejia||Limitedliabi||||||||
||Controlling|||||1,200,000,0||||
|Electric||lity|Meizhou|Yao Jiheng|Electric||58.00%|56.00%|61741361-4|
||Subsidiary|||||00.00||||
|Power||Company||||||||
|Yuejiang||Limitedliabi||||||||
||Controlling|||||1,070,000,0||||
|Power||lity|Shaoguan|Yao Jiheng|Electric||90.00%|90.00%|70752208-0|
||Subsidiary|||||00.00||||
|Generation||Company||||||||
|||Limitedliabi||||||||
|Zhongyuee|Controlling|||||1,454,300,0||||
|||lity|Zhanjiang|Liu Qian|Electric||90.00%|90.00%|74367331-0|
|Energy|Subsidiary|||||00.00||||
|||Company||||||||
|Guangqian||Limitedliabi||||||||
||Controlling|||||1,030,292,5||||
|Ecectric||lity|Shenzhen|Wen Lianhe|Electric||100.00%|100.00%|70842633-0|
||Subsidiary|||||00.00||||
|Power||Company||||||||
|||Limitedliabi||||||||
|Huizhou|Controlling|||Gao||963,000,000||||
|||lity|Huizhou||Electric||67.00%|67.00%|76380066-3|
|Natural gas|Subsidiary|||Shiqiang||.00||||
|||Company||||||||
|||Limitedliabi||||||||
|Huizhou|Controlling|||Zheng||1,370,000,0||||
|||lity|Huizhou||Electric||45.00%|85.00%|79117246-5|
|Pinghai|Subsidiary|||Hanquan||00.00||||
|||Company||||||||
|||Limitedliabi||||||||
|Shibeishan|Controlling|||Li||231,700,000||||
|||lity|Jieyang||Electric||70.00%|60.00%|76384872-0|
|Wind Power|Subsidiary|||Chengjun||.00||||
|||Company||||||||
|Red Bay||Limitedliabi||||||||
||Controlling|||||2,749,750,0||||
|Power||lity|Shanwei|Wen Lianhe|Electric||65.00%|65.00%|76061818-8|
||Subsidiary|||||00.00||||
|Generation||Company||||||||

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||Limitedliabi||||||||
|Guangdong|Controlling|||Luo||181,872,900||||
|||lity|Guangzhou||Electric||100.00%|100.00%|23112971-7|
|Wind Power|Subsidiary|||Zhiheng||.00||||
|||Company||||||||
|||Limitedliabi||||||||
|Huilai Wind|Controlling|||Zhang||20,000,000.||||
|||lity|Jieyang||Electric||70.00%|70.00%|70762183-9|
|Power|Subsidiary|||Youjun||00||||
|||Company||||||||
|||Limitedliabi||||||||
|Yuejiang|Controlling|||Zeng||20,000,000.||||
|||lity|Shaoguan||Electric||100.00%|90.00%|09569147-2|
|Hongrui|Subsidiary|||Lingxiong||00||||
|||Company||||||||

3. Joint-venture and affiliated enterprises information of the company
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Invested unit|Enterprise|Registration|Legal|Business|Registered|Share holding|vote right|Affiliation|Organization|
|name|type|Place|representative|character|capital|ratio(%)|ratio(%)|relation|code|
|I.Joint enterprise||||||||||
|\Fuel|State|||||||Joint||
|||Guangzhou|Zhu Dejun|Fuel Trade|630,000,000|50.00%|50.00%||190326035|
|Company|holding|||||||enterprise||
|II. Affiliated enterprise||||||||||
|Guohua|State||Wang|Power|4,500,000,0|||Affiliated||
|||Taishan||||20.00%|20.00%||72784029-7|
|Taishan|holding||Shuming|generation|00|||enterprise||
|Binlangjian|State|||Power||||Affiliated|75066253-|
|||Baoshan|Liu Yibin||713,000,000|29.00%|29.00%|||
|g|holding|||generation||||enterprise|X|
|Shanxi|State||||1,000,000,0|||Affiliated||
|||Taiyuan|Liang Jian|Coal||40.00%|40.00%||790216374|
|Energy|holding||||00|||enterprise||
|Yudean|State||Yang||2,000,000,0|||Affiliated||
|||Guangzhou||Finance||25.00%|25.00%||71226867-0|
|Finance|holding||Xuanxing||00|||enterprise||
|West|State||Hong|Power||||Affiliated|75285691-|
|||Guangzhou|||847,400,000|26.00%|26.00%|||
|Investment|holding||Rongkun|generation||||enterprise|X|
|Yudean|State||||2,465,800,0|||Affiliated||
|||Guangzhou|Zhu Dejun|Shipping||35.00%|35.00%||775555474|
|Shipping|holding||||00|||enterprise||
|Lincang|State|||Power||||Affiliated||
|||Lincang|Huang Ning||396,490,000|49.00%|49.00%||77048814-5|
|Yuntou|holding|||generation||||enterprise||
|Weixinyunt|State||Yang|Power|1,618,277,4|||Affiliated|77859169-|
|||Zhaotong||||40.00%|40.00%|||
|ou|holding||Guowen|generation|00|||enterprise|X|
|Santou|State|||Power||||Affiliated||
|||Santou|Yang Qing||194,190,000|25.00%|25.00%||783853842|
|Wind Power|holding|||generation||||enterprise||
|YangshanJi|State||Li|Power||||Affiliated||
|||Qingyuan|||22,839,076|25.00%|25.00%||61806551-9|
|angkeng|holding||Guansheng|generation||||enterprise||
|Yangshan||||||||||
||State|||Power||||Affiliated||
|Zhongzink||Qingyuan|Lin Yang||15,150,000|40.00%|40.00%||70760320-0|
||holding|||generation||||enterprise||
|eng||||||||||

4. Other Related parties information of the enterprise
|||||||
|-|-|-|-|-|-|
|Other Related parties name|||Relation of other Related|Organization code||
||||parties with the company|||
||Development Company||Controlled by Yudean Group||190321111|
||Maoming Thermalpower Plant||Controlled by Yudean Group||19492436-6|
||Shaoguan Power Generation Plant||Controlled by Yudean Group||61744590-7|
||Shaoguan D plant||Controlled by Yudean Group||61744707-2|
||Shajiao C||Controlled by Yudean Group||74369834-X|
||Xinfengjiang||Controlled by Yudean Group||751086546|
||Zhuhai Power||Controlled by Yudean Group||70812907-X|
||Zhuhai Jinwan||Controlled by Yudean Group||717859111|
||Bioligy Power||Controlled by Yudean Group||680565944|
||Yudean Porpoety||Controlled by Yudean Group||74706406-1|
||Yueyang Power Generation||Controlled by Yudean Group||197823202|
||Yudean Information Technology Co., Ltd.||Controlled by Yudean Group||6692475-3|
||Yudean Real eatate||Controlled by Yudean Group||73987209-3|
||Zhuhai Hengda Energy||Controlled by Yudean Group||707513758|
||Yudean Environment Protection||Controlled by Yudean Group||69643858-7|
||Shenzhen Tianxin||Controlled by Yudean Group||788338241|
||Huangpu Electric Power Project||Controlled by Yudean Group||191170749|
||Guanghe Electric Power||Controlled by Yudean Group||61740263-2|
||Jinhui Electric Power||Controlled by Yudean Group||72785566-7|
||Huangpu Yuhua Human Resources||Controlled by Yudean Group||190536892|
||Yudean Menghua New Energy||Controlled by Yudean Group||588826371|
|Chaokang Investment|Chaokang Investment|Controlled by Yudean Group|Controlled by Yudean Group||Hongkong Company,|
||||||Not Organization code|
||Yuehua Power Generation||Controlled by Yudean Group||190320848|
||Fangneng Catering management||Controlled by Yudean Group||778364833|
||Yudean Changhu Power Generation||Controlled by Yudean Group||197770796|
||Guangzhu Power Generation||Controlled by Yudean Group||192585575|
||Lianhou Power plant||Controlled by Yudean Group||618064196|

5. Related Transactions
（1）The providing service/sells goods
In RMB
||||||||
|-|-|-|-|-|-|-|
||||Occurred current term||Occurred in previous term||
|||||Percentag||Percentag|
|||Pricing and|||||
||Subjects of the related||||||
|||||e in||e in|
|Related parties||decision making|||||
||transactions||Amount|similar|Amount|similar|
|||process|||||
|||||trades||trades|
|||||（%）||（%）|
|Fuel Company|Fuel purchase|Agreement price|5,960,402,388.00|77.78%|5,563,733,955.00|69.85%|
|Yudean Environment|||||||
||Material purchase|Agreement price|47,930,909.00|0.63%|49,436,055.00|0.62%|
|Protection|||||||
||Acceptance of tugboat||||||
|Yudean Shipping||Agreement price|10,951,887.00|12.30%|12,905,660.00|14.49%|
||services||||||
|Zhuhai Hengda|Procurement of spare||||||
|Energy Development|parts|Agreement price|744,952.00|0.12%|916,055.00|0.18%|
|Co., Ltd.|||||||
|Yudean Property|Acceptance of||||||
|||Agreement price|10,037,716.00|81.78%|7,137,112.00|64.86%|
|Management|management services||||||
|Yudean Information|Acceptance of||||||
|||Agreement price|665,174.00|24.28%|1,111,790.00|45.31%|
|Technology|management services||||||
||Acceptance of||||||
|Yudean Real eatate||Agreement price|3,055,092.00|41.05%|1,793,292.00|16.82%|
||leasingservices||||||
|Guangdong Yuehua|||||||
||Accept labor services||||||
|Power Generation||Agreement price|933,333.00|7.67%||0.00%|
|Co., Ltd.|||||||
|Guangzhou|||||||
|HuangpuYueha|Outsource service|Agreement price|12,072,933.00|2.00%|8,055,579.00|1.57%|
|Power Generation|||||||
|Guangzhou|Accept human resourc||||||
|HuangpuYuehua|es outsourcing services|Agreement price|1,525,000.00|8.35%|1,525,000.00|3.93%|
|Power Generation|||||||
|Zhutou Fuel|||||||
||Fuel purchase|Agreement price|0.00|0.00%|639,863,357.00|7.53%|
|Company|||||||
|Maoming Thernal|Acceptance of tugboat||||||
|||Agreement price|0.00|0.00%|28,001,525.00|6.41%|
|power|services||||||

Sales of goods and services
In RMB
||||||||
|-|-|-|-|-|-|-|
||||Occurred current term||Occurred in previous term||
|||Pricing and|||||
||Subjects of the related|||Percentag||Percentag|
|Related parties||decision making|||||
||transactions||Amount||Amount||
|||||e in||e in|
|||process|||||
|||||similar||similar|

||||||||
|-|-|-|-|-|-|-|
|||||trades||trades|
|||||（%）||（%）|
|Yudean Environment|||||||
||Sale of Material|Agreement price|32,969,688.65|46.15%|45,606,021.38|52.07%|
|Protection|||||||
||Providing maintenance||||||
|Shajiao C||Agreement price|10,122,222.23|79.48%|8,957,264.99|67.67%|
||services||||||
|Zhuhai Jinwan|||||||
||Providing maintenance||||||
|Power Generation||Agreement price|2,057,974.43|16.16%|1,297,827.85|9.81%|
||services||||||
|Co., Ltd.|||||||
|Guangdong Yudean|||||||
|Zhanjiang|||||||
||Provide maintenance s||||||
|Biological Power||Agreement price|556,152.94|4.37%|0.00|0.00%|
||ervices||||||
|Generation Co.,|||||||
|Ltd.|||||||
|Guangdong Yudean|||||||
||Provide training servic||||||
|Zhongshan|||||||
||es|Agreement price|158,757.00|71.75%|0.00|0.00%|
|Thermal power Co.,|||||||
|Ltd.|||||||
|Guangdong Yudean|Provide training servic||||||
|||Agreement price|10,228.00|4.62%|0.00|0.00%|
|Shipping|es||||||
||Carbon emission rights||||||
|Chaokang|||||||
|||Agreement price|600,000.00|100.00%|0.00|0.00%|
|Investment Co., Ltd.|||||||
|Guangdong Yudean|||||||
|Group, Zhuhai|||||||
||Provide services|Agreement price|0.00|0.00%|948,717.95|7.17%|
|Power Generation|||||||
|Plant|||||||

（2）Related leasing
The Company is the lender
In RMB
||||||||
|-|-|-|-|-|-|-|
|||||||Rental|
|Name of the|Name of the|Category of asset|||||
||||Starting date|Stop date|Pricing basis|recognized in the|
|owner|tenant|for rent|||||
|||||||period|
|||Property||December 31,|||
|Yudean Property|The Company||January 1, 2014||Agreement price|1,793,292.00|
|||Leasing||2014|||
||Shibeishan Wind|Property||December 31,|||
|Yudean Property|||January 1, 2014||Agreement price|557,340.00|
||Power|Leasing||2014|||
|Yudean Property|Guangdong Wind|Property|January 1, 2014|December 31,|Agreement price|305,100.00|

||||||||
|-|-|-|-|-|-|-|
||Power|Leasing||2014|||
|Maoming|||||||
||Maoming|||December 31,|||
|Thermalpower||Land Leasing|January 1, 2007||Agreement price|182,430.50|
||Zhenneng|||2037|||
|Plant|||||||
|Maoming|||||||
||Maoming||||||
|Thermalpower||Land Leasing|August 1, 2010|August 1, 2040|Agreement price|365,608.50|
||Zhenneng||||||
|Plant|||||||
|Maoming|||||||
||Maoming|Property||December 31,|||
|Thermalpower|||January 1, 2014||Agreement price|77,702.50|
||Zhenneng|Leasing||2014|||
|Plant|||||||

（3）Status of related party guarantee
In RMB
|||||||
|-|-|-|-|-|-|
||The beneficiary|||||
|Guarantor||Amount guaranteed|Start date|Due date|Completed or not|
||party|||||
|The Company|Lincang Yuntou|17,150,000.00|January 20, 2007|December 25, 2020|No|
|The Company|Lincang Yuntou|6,860,000.00|July 29, 2008|July 29, 2018|No|
|The Company|Lincang Yuntou|83,300,000.00|December 18, 2012|December 31, 2030|No|
|The Company|Weixin Yuntou|329,778,000.00|March 27, 2012|July 19, 2014|No|
|The Company|Weixin Yuntou|274,000,000.00|December 6, 2012|July 19, 2014|No|
|The Company|Weixin Yuntou|120,000,000.00|May 21, 2014|May 20, 2017|No|
|The Company|Binlangjiang|15,950,000.00|March 16, 2006|March 13, 2021|No|
|The Company|Binlangjiang|120,000,000.00|April 2, 2008|June 5, 2028|No|
|The Company|Binlangjiang|58,000,000.00|October 31, 2008|October 30, 2027|No|
|The Company|Binlangjiang|3,915,000.00|June 30, 2005|June 30, 2017|No|
|The Company|Binlangjiang|34,800,000.00|December 19, 2007|December 18, 2024|No|
|The Company|Binlangjiang|22,040,000.00|August 31, 2005|August 30, 2022|No|
|The Company|Binlangjiang|82,070,000.00|August 25, 2009|August 24, 2029|No|
|The Company|Binlangjiang|33,060,000.00|November 14, 2008|November 14, 2020|No|
|The Company|Binlangjiang|50,750,000.00|May 27, 2009|May 27, 2023|No|
|The Company|Binlangjiang|89,993,500.00|June 29, 2010|July 15, 2020|No|
|Yudean Group|The Company|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|||||
|Yudean Fanince|55,000,000.00|January 13, 2014|July 11, 2014||
|Yudean Fanince|70,000,000.00|January 23, 2014|July 22, 2014||
|Yudean Fanince|90,000,000.00|February 12, 2014|August 11, 2014||
|Yudean Fanince|20,000,000.00|April 15, 2014|November 4, 2014||
|Yudean Fanince|70,000,000.00|May 9, 2014|November 7, 2014||
|Yudean Fanince|10,000,000.00|May 13, 2014|November 12, 2014||
|Yudean Fanince|45,000,000.00|May 20, 2014|November 19, 2014||
|Yudean Fanince|60,000,000.00|May 27, 2014|November 26, 2014||
|Yudean Fanince|10,000,000.00|June 9, 2014|December 8, 2014||
|Yudean Fanince|45,000,000.00|June 16, 2014|December 15, 2014||
|Yudean Fanince|20,000,000.00|June 17, 2014|December 16, 2014||
|Yudean Fanince|550,000,000.00|November 12, 2012|November 13, 2014||
|Yudean Fanince|50,000,000.00|January 21, 2014|January 20, 2015||
|Yudean Fanince|200,000,000.00|December 17, 2013|December 16, 2014||
|Yudean Fanince|80,000,000.00|July 15, 2013|July 14, 2014||
|Yudean Fanince|100,000,000.00|September 27, 2013|September 26, 2014||
|Yudean Fanince|100,000,000.00|December 30, 2013|December 29, 2014||
|Yudean Fanince|200,000,000.00|December 25, 2013|December 24, 2014||
|Yudean Fanince|100,000,000.00|April 21, 2014|April 20, 2015||
|Yudean Fanince|100,000,000.00|April 23, 2014|April 22, 2015||
|Yudean Fanince|265,000,000.00|March 14, 2014|June 18, 2015||
|Yudean Fanince|60,000,000.00|January 16, 2014|July 15, 2014||
|Yudean Fanince|50,000,000.00|March 17, 2014|September 16, 2014||
|Yudean Fanince|40,000,000.00|June 5, 2014|December 4, 2014||
|Yudean Fanince|30,000,000.00|August 27, 2013|August 26, 2014||
|Yudean Fanince|30,000,000.00|August 28, 2013|August 27, 2014||
|Yudean Fanince|30,000,000.00|September 2, 2013|September 2, 2014||
|Yudean Fanince|30,000,000.00|September 3, 2013|September 3, 2014||
|Yudean Fanince|52,000,000.00|August 22, 2012|August 21, 2022||
|Yudean Fanince|100,000,000.00|January 13, 2014|July 12, 2014||
|Yudean Fanince|105,000,000.00|August 12, 2013|August 11, 2014||
|Yudean Fanince|80,000,000.00|August 15, 2013|August 14, 2014||

|||||
|-|-|-|-|
|Yudean Fanince|100,000,000.00|December 30, 2013|December 29, 2014|
|Yudean Fanince|50,000,000.00|January 22, 2014|January 21, 2015|
|Yudean Fanince|200,000,000.00|April 9, 2014|April 8, 2015|
|Yudean Fanince|20,000,000.00|January 26, 2014|July 25, 2014|
|Yudean Fanince|2,000,000.00|January 26, 2014|September 16, 2014|
|Yudean Fanince|78,000,000.00|March 25, 2014|September 24, 2014|
|Yudean Fanince|60,000,000.00|April 1, 2014|September 30, 2014|
|Yudean Fanince|250,000,000.00|May 12, 2014|November 11, 2014|
|Yudean Fanince|100,000,000.00|May 19, 2014|November 18, 2014|
|Yudean Fanince|200,000,000.00|May 22, 2014|November 21, 2014|
|Yudean Fanince|200,000,000.00|June 10, 2014|December 9, 2014|
|Yudean Fanince|350,000,000.00|December 19, 2013|December 19, 2018|
|Yudean Fanince|150,000,000.00|March 5, 2014|December 19, 2018|
|Yudean Fanince|280,000,000.00|January 15, 2014|January 15, 2029|
|Yudean Fanince|20,000,000.00|February 11, 2014|January 15, 2029|
|Yudean Fanince|350,000,000.00|June 24, 2014|December 23, 2014|
|Yudean Fanince|345,000,000.00|December 20, 2007|December 5, 2025|
|Yudean Fanince|8,000,000.00|December 25, 2013|December 24, 2028|
|Yudean Fanince|48,000,000.00|January 14, 2014|December 24, 2028|
|Yudean Fanince|48,000,000.00|February 11, 2014|December 24, 2028|
|Yudean Fanince|80,000,000.00|April 8, 2014|December 24, 2028|
|Yudean Fanince|80,000,000.00|May 22, 2014|December 24, 2028|
|Yudean Fanince|100,000,000.00|June 19, 2014|December 24, 2028|
|Yudean Fanince|51,460,000.00|March 11, 2013|March 10, 2031|
|Lend out||||

（5）Other related transactions
(a) Common expense allocation
TheCompany’s branches Shajiao A and Shajiao C agreed to allocate certain common expenses according to agreed allocation basis. For the year January-June 2014, the expense reimbursement received from Shajiao C amounted to approximately RMB 3,509,317.62.
(b)Interest income
January-June 2014 January-June 2013
Interest income from cash in Yudean 24,101,568 17,555,849
Finance
Weixin Yuntou 607,511 7,147,966
Lincang Yuntou 0 118,771
Shanxi Energy 0 3,408,393
Total 24,709,079 28,230,979
Percentage 84.24% 88.22%
The interest rate of cash in Yudean Finance is the same as the interest rate of cash in bank
forthesame period.
(c) Interest expenese
January-June 2014 January-June 2013
Interest paid to Yudean Finance for the 170,129,771 170,231,094
entrust loan
Interest paid to Chaokang Company - 7,774,863
for borrowing
Total 170,129,771 178,005,957
Percentage 18.63% 17.88%
(d) Joint inestment
As of June 30, 2014, The Group invested in the following subsidiaries and associates jointly with
yudean:
Proportion Yudean Group
Yudean Finance 65%
Fuel Company 50%
Shanxi Energy 60%
West Investment 35%
Yudean Shipping 45%
(e) Cash pooling arrangements with Guangdong Yudean Finance
According to the Notice of Unified Fund Settlement Management through Cooperation (Yuedian
Cai (2009) No. 241) issued by Yudean Group Company, the parent company of the Company,
Yudean Finance shall conduct unified settlement management of the income bank account and
expenditure bank account of the Group. The Company and all subsidiaries shall open the only
income accounts at the nominated bank and authorize Yudean Finance to make payment.
On June 30, 2014, the balance of funds deposited by the Group at Yudean Finance was RMB
2,,965,447,242.(December 31, 2013: RMB 2,838,481,167)
(6) Account receivable and payable of related parties
The account receivable of related parties of the Listed company
In RMB
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Name|Related parties||Year-end balance||||Year-beginning balance|||
|||Book balance|Book balance||Provision|Book balance|Book balance||Provision|
||||||for||||for|
||||||devaluatio||||devaluati|
||||||n||||on|
|Monetary||||||||||
||Yudean Finance|2,965,447,242.00||0.00||2,838,481,167.00||0.00||
|Capital||||||||||
|Other receivable|Yudean Environment Protection|41,871,431.93||0.00||73,362,113.00||0.00||

|||||||
|-|-|-|-|-|-|
|Other receivable|Yudean Real eatate|885,244.00|0.00|885,244.00|0.00|
|Other receivable|Shajiao C|803,103.93|0.00|654,064.00|0.00|
|Other receivable|Shaoguan Power Generation|706,798.19|0.00|0.00|0.00|
|Other receivable|Yudean Property|289,360.00|0.00|282,962.00|0.00|
|Other receivable|Chaokang Investment|220,434.36|0.00|220,434.00|0.00|
|Other receivable|Weixin Yuntou|0.00|0.00|95,000,000.00|0.00|
||Neimenggu Yudean Menghua New|||||
|Other receivable||0.00|0.00|613,885.00|0.00|
||Energy|||||
|Other receivable|Zhuhai Jinwan Power Generation|0.00|0.00|100,000.00|0.00|
|Interest||||||
||Yudean Finance|7,124,032.34|0.00|5,198,549.00|0.00|
|receivable||||||
|Interest||||||
||Weixin Yuntou|0.00|0.00|589,489.00|0.00|
|receivable||||||
|Account||||||
||Shajiao C|4,572,507.50|0.00|18,281,008.00|0.00|
|receivables||||||
|Account||||||
||Zhanjiang Bioligy Power|442,869.28|0.00|797,586.00|0.00|
|receivables||||||
|Account||||||
||Zhuhai Jinwan Power Generation|75,027.85|0.00|25,492.00|0.00|
|receivables||||||
|Payment in||||||
||Fuel Company|1,185,130,658.52|0.00|1,324,042,991.00|0.00|
|advance||||||
|Payment in||||||
||Shenzhen Tianxin Insurance|781,018.13|0.00|0.00|0.00|
|advance||||||
|Payment in||||||
||Yudean Finance|0.00|0.00|9,324,000.00|0.00|
|advance||||||

The account payable of related parties of the Listed company
In RMB
|||||||||
|-|-|-|-|-|-|-|-|
||Projects||Related parties||Year-end balance||Year-beginning balance|
|Account payables||Fuel Company||774,486,044.47||1,825,228,940.00||
|Account payables||Yudean Shipping||4,080,000.00||0.00||
|Account payables||Yudean Environment Protection||63,338,711.83||61,800,181.00||
|Account payables||Xinfengjiang||130,174.99||2,700.00||
|Account payables||Yudean Information Technology||521,000.00||336,000.00||
|Account payables||Maoming Thermal Power||96,009,781.90||101,009,782.00||
|Account payables||Shaoguan Power Generation||3,544,826.00||3,544,826.00||
|Account payables||Zhuhai Hengda Energy Development||691,828.00||1,735,302.00||

|||||
|-|-|-|-|
|Other Payables|Yudean Shipping|3,159,000.00|4,630,000.00|
|Other Payables|Yudean Environment Protection|1,084,284.30|1,084,284.00|
|Other Payables|Yudean Information Technology|175,084.00|550,500.00|
|Other Payables|Guangdong Yueyang Power Generation|18,000,000.00|18,000,000.00|
|Other Payables|Guangzhou Huangpu Power Engineering|7,289,616.98|11,538,318.00|
|Other Payables|Yudean Property|1,093,705.00|1,915,020.00|
|Other Payables|Shaoguan Power Generation|42,983,168.74|33,206,172.00|
|Other Payables|Shenzhen Tianxin Insurance|70,000.00|70,000.00|
|Other Payables|Maoming Thermal Power|15,000,000.00|15,000,000.00|
|Other Payables|Shaoguan D|1,750,737.00|1,750,737.00|
|Other Payables|Xinfengjiang|0.00|218,831.00|
|Other Payables|Huangpu Electrc Power|851,458.34|1,270,833.00|
|Other Payables|Guangdong Yuehua Power Generation|186,666.66|82,186,667.00|
|Other Payables|Yunfu Jinhui Power|0.00|90,582.00|
|Interest payables|Yudean Finance|9,591,114.09|7,087,234.00|
|Dividend payable|Shaoguan D|3,521,190.00|3,521,190.00|
|Bills payables|Yudean Finance|598,839,197.78|1,387,874,618.00|
|Short-term loan|Yudean Finance|4,635,000,000.00|3,722,000,000.00|
|Long-term Loan|Yudean Finance|1,562,460,000.00|738,670,000.00|
|Non –current Liability||||
||Yudean Finance|50,000,000.00|50,000,000.00|
|due 1 year||||

IX. Subsequent events
1. Liabilities formed from pending lawsuit and mediation and its financial impact
Haoxing abalone farm in Pinghai Town, Huidong Conty sent us alawyer’s letter on May 24, 2010 through Guangdong WeilunLawyers’ Firm.It’s said that Huizhou Pinghai electric Plant results in pollution of sea water, and changes the direction and seed of waves, which results in a 3 million loss per year and the loss may be gigger. The farm required us to take resporsibility for their loss and take actions as soon as possible, including stop invading, reduce interference, eliminate danger, recover and pay for loss. As of 30 June 2014,the farm does not take any subsequent legal actions to the Company.
The Group thinks that the farm is located outside the area of HuizhouPinghai’s area, and there is no evidenceorsupport for the charge that the construction of the plant caused the pollution, change of direction and speed of waves and resulted in the loss.
The Board of the Company cannot reasonably estimate the possible loss of this case , and the Group has not
recorded any provision or liability for this contingent liability in its financial statement.
2.For other units to provide debt guarantees, forming of contingent liabilities and the financial impact.
On June 30, 2014, the Group has responsibility to guarantee for providing bank loans of RMB420,585,000 and RMB 89,993,500 financial leasing to Binglangjiang hydropower, RMB 107,310,000 bank loans to Lincang Yunto u, bank borrowings of RMB 723,778,000 to Weixin Yuntou.
X.Commitments
1.Significant Commitments
The 1st meeting of the eighth board of directors of the Company held on May 21, 2014 adopted the Proposal for Increasing the Capital of Guangdong Guohua Yudean Taishan Power Generation Co., Ltd. According to the final accounts audit report of Phase II Expansion Project(2×1000MW) of Guangdong Guohua Diantaishan Electricity Co. Ltd. (hereinafter referred to “Taidian Company”), the company has agreed to increase registered capital of RMB33,900,000 to Tiandian company. As of June 30, 2014, the companyhasn’t increased investment on Taidian Company.
2.Implementation Commitments
The
16th
meeting of the seventh Board of Directors of the Company (“the Board”) passed the resolution of “Capital Increase in Da Ya Kou Hydroelectric Plant (“the Project”) of Lincang Yuntou Yudean Hydroelectric Develop Co., Ltd” on 29 October 2013. The Board agreed to increase its capital proportion in the Project from20% to30% to support the subsequent construction of the Project. On 24 December 2013, The
17th
meeting of the seventh Board passed the resolution of “Increase in Registered Capital of Lincang Yuntou Yudean Hydroelectric Develop Co., Ltd”to approve additional capital contribution to Lincang Yuntou for the capitcity expansion projects in Nanrongtian and Gualanzi electric plants. As of June 30, 2014, The Company is required to contribute RMB 68, 546,100 for the two projects above.
The Board passed the resolution of “Establishment of Guangdong Yudean Leizhou Wind Power Co., Ltd. by Guangdong Yudean Zhanjiang Wind Power Generation Co., Ltd” on 9 January 2013, pursuant to which theCompany’s70% owned Zhenjiang Wind Power will establish Leizhou Wind Power. The registered capital of Leizhou Wind Power should be less than RMB162,455,300 for the development of Hongxinlou Wind Power Project (49.5MW). The capital injection from Zhenjiang Wind Power to Leizhou Wind Power will be settled by the capital contribution from the Company and other shareholders of Zhenjiang Wind Power.TheCompany’s contribution to Zhenjiang Wind Power will be less than RMB 106, 718,700 and Zhenjiang WindPower’s
contribution to Leizhou Wind Power will be less than RMB 162, 455,300. As of June 30, 2014, the Company has not completed the injection to Zhenjiang Wind Power and Zhenjiang Wind Power has injected RMB 20, 000,000 to Leizhou Wind Power.
The
1st
Session of the seventh Board passed the resolution of "Investment in Guishan Offshore Wind Power Project” during its first meeting in 2012 on 19 January, pursuant to which the Company will invest in the
construction of South Wind Power based on its10% shareholding proportion and take part in Guishan Offshore Wind Power Project. The registered capital is tentatively set at RMB 900, 000,000. The Company is required to invest RMB 90, 000,000 as10% of the total capital of the project. As of June 30, 2014, the Company injected
RMB 30, 000,000 to South Wind Power.
The Seventh Session of the Board passed the resolution of “Investment in Offshore Wind Power Project by Guangdong Yudean Zhanjiang Wind Power Generation Co., Ltd.” during its second meeting on 28 June 2011, pursuant to which the Company agreed to inject RMB 140,000,000 to its subsidiary Zhanjiang Wind Power for the investment in Xuwen offshore wind power project. The injection would be made in batches based on the actual progress of the project. As of June 30, 2014, the Company injected RMB 75,733,000 to Zhanjiang Wind Power.
The 10th meeting of the seventh board passed the resolution of “Capital Increase in Weixin Yuntou Yudean Zhaxi Energy Co., Ltd.” on 21 August 2012, pursuant to which the Company will inject RMB 239,600,000 to its associated company Weixin Yuntou based on its40% shareholding proportion. The Company injected a total of RMB 733,600,000 following the capital contribution. As of June 30, 2014, the actual capial injection from the Company to Weixin Yuntou was RMB 200,000,000.
The Seventh Session of the Board passed the resolution of “Establishment of Guangdong Yudean Dabu Electric Ltd” during its 11th meeting on 29 October 2012, pursuant to which the Company will establish Dabu Electric as its wholly-owned subsidiary. The Company is required to inject RMB 1,104,000,000(20% of the total project investment RMB 5,520,000,000) in batches based on the construction progress. By June 30, 2014, the Company invested RMB 700,000,000 to Dabu Electric.
The Seventh Session of the Board passed the resolution of “Capital Increase in Guangdong Yudean Bohe Coal Power Co., Ltd” during its 11th meeting on 29 October 2012, pursuant to which the Company agreed to inject RMB 854,570,000 in cash to Bohe Coal for the construction of terminal project. The injection would be made in batches based on the capital requirement of the project. On 22 August 2013, the Seventh Session of the Board passed the resolution of “Investment in Guangdong Maoming Bohe Electric power generation project” during its 15th meeting, pursuant to which the Company agreed to inject RMB 1,375,000,000 to Bohe Coal for the
construction of Bohe electric plant. The injection of the initial capital of Bohe Coal of RMB285 million was completed. The subsequent injection of RMB 1,090,000,000 will be made in batches based on the capital
requirement of the project. The foresaid capital commitment is totaled at RMB 2,229,570,000. As of June 30, June 2014,, the Company injected RMB1,085,000,000 to Bohe Coal.
The 11th Meeting of the Sixth Board of Directors of the Company held on April 15th 2010, it adopted the motion “Capital increment to Jinghai Electric”. According to the approval, the Company would inject capital fund of RMB 565,025,500 at the shareholding percentage of65%. As of June 30, 2014, the Company had injected fund amount of RMB 445,014,000.
“The Proposal on Investing On‘New Big Power Units While Closing SmallOnes”(2*600MW)’ Coal Fired Units Project of Shaoguan Plant” has been examined and approved at the eleventh meeting of the sixth Board of Director on April 12, 2010. In order to promote the construction of “Large Unit ON and Small Unit OFF(2*600 MW)” Coal Fired Units Project, the company agreed to increase investment RMB 690.69 million to Yuejiang company according to the equity ratio; On the
18th
Meeting of the Seventh Board of Directors of the Company agreed to the Proposal for Increasing the Capital of Guangdong Shaoguan Yuejiang Power Generation Co., Ltd. To ensure smooth production and operation, the board of directors approved the Company to increase the capital of
Guangdong Shaoguan Yuejiang Power Generation Co., Ltd. by RMB 63 million in equity proportion of90%. As of June, 30, 2014, The Company injected RMB 360,000,000 to Yuejiang Power .
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 invest RMB 35,000,000 to Shantou Wind Power based on its25% shareholding proportion. The injection would be made in batches based on the contrsuction progress. By 30 June 2014, the Company injected RMB 12,472,500 to Shantou Wind Power.
XI.Other important events
1.Leasing
Regarding the information of payments payable relating to company and finance lease , see the notes of long-term accounts payable and long-term payables due within one year in financial statements
2.Assets and liabilities on fair value basis
In RMB
|||||||
|-|-|-|-|-|-|
||||Accumulative|||
|||Gain/loss from||Impairment||
||||change in fair value|||
|Items|Initial amount|change of fair value||provisions provided|Amount end of term|
||||accounted into|||
|||in the term||in the current term||
||||equities|||
|Fiancial assets||||||
|3.Available for sale||||||
||298,871,738.00|-11,764,417.50|43,332,890.64|0.00|287,107,320.00|
|financial assets||||||
|Total of above mentioned|298,871,738.00|-11,764,417.50|43,332,890.64||287,107,320.00|
|Financial liabilities|0.00|0.00|0.00||0.00|

 XII..Notes s of main items in financial reports of parent company
1.Account receivable
（1）Account receivable
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|Type|Year-end balance||||||Year-beginning balance|||||
||Book Balance|||Provision for bad debts|||Book Balance|||Provision for bad debts||
||Amount|Pro|Amount||Proportion%|Amount||Proportion%|Amount||Proportion%|
|||port|||Propo|||||||
|||ion|||rtion|||||||
||Amount|%|||%|||||||

||
|-|
|Propo|
|rtion|
|%|

||
|-|
|Propo|
|rtion|
|%|

||||||||
|-|-|-|-|-|-|-|
|Account receivable with|||||||
|significant specific|||||||
|||100.0|||100.00||
|amount that were|338,321,969.00||0.00%|252,615,520.00||0.00%|
|||0%|||%||
|provisioned had debt|||||||
|preparation separately|||||||
|Receivables provided bad debt provision in groups|||||||
|Total|338,321,969.00|--|--|252,615,520.00|--|--|

 Remarks on categories of receivableaccounts：
GPGC is the only customer of the electric power produced by the Company. From December 31, 2013 to June 30, 2014, accounts receivable is the power payment receivable from GPGC.
Receivable accounts with large amount individually and bad debt provisions were provided
√Applicable□ Not applicable
In RMB
||||||
|-|-|-|-|-|
|Description of receivable accounts|Book balance|Bad debt provision|Proportion|Reason|
|||||Full amount recoveryis expected|
|Electricity charge|338,321,969.00||0.00%||
|Total|338,321,969.00||--|--|

（2）Nature or content of other accounts receivable with significant amount
（3）The front 5units’ information of the account receivable
In RMB
||||||
|-|-|-|-|-|
||Relation with the|||Portion in total other|
|Name||Amount|Ages||
||Company|||receivables (%)|
|GPGC|Third party|338,321,968.53|Within 1 year|100.00%|
|Total|--|338,321,968.53|--|100.00%|

 2.Other receivable
（1）Other receivable
In RMB
||||||||||
|-|-|-|-|-|-|-|-|-|
||Year-end balance||||Year-beginning||||
||||||Book balance||Provision for bad||
||Book balance||Provision for bad debts||||||
||||||||debts||
|Classification|||||||||
|||Propo||Propo||Propo||Propo|
||Amount|rtion(|Amount|rtion(|Amount|rtion(|Amount|rtion(|
|||%)||%)||%)||%)|
|Other Receivables with|301,200,000.00|98.05|0.00|0.00%|95,000,000.00|85.35|0.00|0.00%|

||||||||||
|-|-|-|-|-|-|-|-|-|
|major individual amount and||%||||%|||
|bad debt provision provided|||||||||
|individually|||||||||
|Other Receivables provided bad debt provision in groups|||||||||
|Other Account receivable|||||||||
|with minor individual||||||14.65|||
||5,988,500.00|1.95%|0.00|0.00%|16,309,157.00||0.00|0.00%|
|amount but bad debt||||||%|||
|provision is provided|||||||||
|Total|307,188,500.00|--|0.00|--|111,309,157.00|--|0.00|--|

 Statement on Other receivable:
Other Receivable accounts with large amount individually and bad debt provisions were provided
√Applicable□not Applicable
In RMB
||||||
|-|-|-|-|-|
|Description of other|||||
||Book balance|Bad debt provision|Proportion|Reason|
|receivable accounts|||||
|Entrust loan due within 1||||Full amount recovery is|
||300,000,000.00|0.00|0.00%||
|year||||expected|
|||||Full amount recovery is|
|Deposit|1,200,000.00|0.00|0.00%||
|||||expected|
|Total|301,200,000.00|0.00|--|--|

Receivable accounts with minor amount but on which bad debt provisions are provided individually at end of period
√Applicable□not Applicable
In RMB
||||||
|-|-|-|-|-|
|Name|Book balance|Bad debts|Provision proportion%|Reason of provision|
|||||Full amount recovery is|
|Deposit|2,289,734.00|0.00|0.00%||
|||||expected|
|||||Full amount recovery is|
|Withholding payment|500,145.00|0.00|0.00%||
|||||expected|
|||||Full amount recovery is|
|Deposit|869,337.00|0.00|0.00%||
|||||expected|
|||||Full amount recovery is|
|Other|2,329,284.00|0.00|0.00%||
|||||expected|
|Total|5,988,500.00|0.00|--|--|

（2）Natures or contents of other receivable accounts with large amount
（3）The front 5units’ information of other account receivable
In RMB
||||||
|-|-|-|-|-|
|||||Portion in total|
||Relation with the||||
|Name||Amount|Ages|other|
||Company||||
|||||receivables (%)|
|Guangdong Shaoguan Yuejiang Power|||||
||Holding subsidiary|200,000,000.00|Within 1 year|65.11%|
|Generation|||||
|Guangdong Yudean Dapu Power|||||
||Holding subsidiary|100,000,000.00|Within 1 year|32.55%|
|Generation|||||
|Shanghai Steam Turbine Co., Ltd.|Third parties|1,200,000.00|Over 5 years|0.39%|
||Corntrolled by Yuduan||||
|Guangdong Yudean Group ,Shajiao C.||803,104.00|Within 1 year|0.26%|
||Group||||
||Corntrolled by Yuduan||||
|Yudean Property Investment||597,764.00|Within 1 year|0.19%|
||Group||||
|Total|--|302,600,868.00|--|98.50%|

（4）Other Account receivable from Related affiliated parties
In RMB Unit name Relation with the company Amount Percentage of account receivable
|||||
|-|-|-|-|
|Yudean Environmental protection|Corntrolled by Yuduan Group|350,059.00|0.11%|
|Yudean Group. Shajiao C|Corntrolled by Yuduan Group|803,104.00|0.26%|
|Yudean Property|Corntrolled by Yuduan Group|195,188.00|0.06%|
|Yudean Property Investment|Corntrolled by Yuduan Group|597,764.00|0.19%|
|Guangdong Shaoguan Yuejiang Power Genration|Holding subsidiary|200,000,000.00|65.11%|
|Guangdong Dapu Power Generation|Holding subsidiary|100,000,000.00|32.55%|
|Guangdong Anxin Yudean Electric|Controlled by Holding Company|107,584.00|0.04%|
|Total|--|302,053,699.00|98.32%|

 3. Long–term stocks equity investment
In RMB
|||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|
|||||change||||Explanation||||
|||||||||of||||
|||||||Shareholdin||||||
||||||||Voting right|diffidence||||
|||Initial||||g||||||
||Accounting||Original||Ending||proportion|between||Current|Cash|
|Name||investment||||proportion|||Devalue|||
||method||balance||Balance||in the|shareholdin||devalue|bonus|
|||cost||||in the||||||
||||||||investee|g||||
|||||||investee||||||
|||||||||proportion||||
|||||||||and voting||||

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||||||||right||
|||||||||proportion||
|||||||||in investee||
|Guangdo||||||||||
|ng||||||||||
|Guohua||||||||||
|Yudean|Equity|1,799,659|2,173,810|219,573,5|2,393,383|||Not||
|||||||20.00%|20.00%|||
|Taishan|method|,331.00|,422.00|04.00|,926.00|||applicable||
|Power||||||||||
|Generatio||||||||||
|n||||||||||
|Fuel|Equity|498,813,4|580,941,6|-23,438,3|557,503,3|||Not|66,524,88|
|||||||50.00%|50.00%|||
|Company|method|95.00|67.00|18.00|49.00|||applicable|8.00|
|Yunnan||||||||||
|Baoshan|Equity|223,858,1|216,895,7|-7,470,35|209,425,4|||Not||
|||||||29.00%|29.00%|||
|Binlangj|method|00.00|64.00|6.00|08.00|||applicable||
|iang||||||||||
|Guangdo||||||||||
|ng|Equity|513,325,0|624,823,3|-6,242,62|618,580,7|||Not|53,750,72|
|||||||25.00%|25.00%|||
|Yudean|method|00.00|62.00|4.00|38.00|||applicable|2.00|
|Finance||||||||||
|Shanxi||||||||||
||Equity|400,000,0|778,866,5|41,187,36|820,053,9|||Not||
|Yudean||||||40.00%|40.00%|||
||method|00.00|68.00|9.00|37.00|||applicable||
|Energy||||||||||
|Huaneng||||||||||
|Shantou|Equity|38,843,75|51,745,18|3,227,935|54,973,12|||Not||
|||||||25.00%|25.00%|||
|Wind|method|0.00|5.00|.00|0.00|||applicable||
|Power||||||||||
|Weixin||||||||||
||Equity|694,000,0|694,818,0|-15,572,0|679,246,0|||Not||
|Yuntou||||||40.00%|40.00%|||
||method|00.00|76.00|33.00|43.00|||applicable||
|Yudean||||||||||
|Guangdo||||||||||
|ng|Equity|862,964,8|927,200,8|-3,449,83|923,750,9|||Not|8,977,900|
|||||||35.00%|35.00%|||
|Yudean|method|87.00|12.00|0.00|82.00|||applicable|.00|
|Shipping||||||||||
|Linchang||||||||||
||Equity|194,280,1|172,746,2|11,716,04|184,462,3|||Not||
|Yuntou||||||49.00%|49.00%|||
||method|00.00|62.00|2.00|04.00|||applicable||
|Yudean||||||||||
|Yudean||||||||||
||Equity|220,324,0|283,755,1|-568,387.|283,186,7|||Not||
|||||||26.00%|26.00%|||
|West||||||||||
||method|00.00|69.00|00|82.00|||applicable||
|Investm||||||||||

||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|ent|||||||||||
|Yangshan|||||||||||
||Equity|6,060,000|7,878,849|723,607.0|8,602,456|||Not|||
|Zhongxi||||||40.00%|40.00%||||
||method|.00|.00|0|.00|||applicable|||
|nkeng|||||||||||
|YanshanJi|Equity|5,000,000|6,030,701||6,030,701|||Not|||
|||||||25.00%|25.00%||||
|angkeng|method|.00|.00||.00|||applicable|||
|Santou|||||||||||
||Cost|30,000,00|30,000,00||30,000,00|||Not|||
|Wind||||||10.00%|10.00%||||
||method|0.00|0.00||0.00|||applicable|||
|Power|||||||||||
|Sum|Cost|356,000,0|356,000,0||356,000,0|||Not|||
|||||||5.34%|5.34%||||
|Insurance|method|00.00|00.00||00.00|||applicable|||
|Guoyi|||||||||||
||Cost|3,600,000|3,600,000||3,600,000|||Not|||
|Tender||||||1.97%|1.97%||||
||method|.00|.00||.00|||applicable|||
|Invitation|||||||||||
|Shenzhen|||||||||||
|Chuang|||||||||||
||Cost|115,000,0|115,000,0||115,000,0|||Not||12,862,50|
|xin||||||3.67%|3.67%||||
||method|00.00|00.00||00.00|||applicable||0.00|
|Technol|||||||||||
|ogy|||||||||||
|Maoming|||||||||||
||Cost|903,707.0|903,707.0|-903,707.||||Not|||
|Supply||||||15.00%|15.00%||||
||method|0|0|00||||applicable|||
|Water|||||||||||
|Zhanjiang|Cost|2,185,334|2,185,334||2,185,334|||Not||202,176,9|
|||||||76.00%|76.00%||||
|Electric|method|,400.00|,400.00||,400.00|||applicable||89.00|
|||||||||Voting|||
|||||||||rights|||
|||||||||should|||
|||||||||base on|||
|||||||||the|||
|Guangdo||||||||relevant|||
||Cost|701,279,3|701,279,3||701,279,3||||455,584,2||
|ng Yuejia||||||58.00%|55.56%|provision|||
||method|38.00|38.00||38.00||||67.00||
|Electric||||||||s of the|||
|||||||||articles of|||
|||||||||associatio|||
|||||||||n in such|||
|||||||||subsidiari|||
|||||||||es|||
|Shaoguan|||||||||||
||Cost|856,694,6|586,694,6|270,000,0|856,694,6|||Not|||
|Yuejiang|||||||||||
|||||||90.00%|90.00%||||
|Power|method|74.00|74.00|00.00|74.00|||applicable|||
|Generati|||||||||||

||||||||||
|-|-|-|-|-|-|-|-|-|
|on|||||||||
|Maoming|||||||||
||Cost|595,005,9|595,005,9|595,005,9|||Not|11,127,37|
|Zhennen|||||58.27%|58.27%|||
||method|70.00|70.00|70.00|||applicable|7.00|
|g|||||||||
|YudeanJi|||||||||
|nghai|||||||||
||Cost|1,930,395|1,930,395|1,930,395|||Not|601,541,6|
|Power|||||65.00%|65.00%|||
||method|,668.00|,668.00|,668.00|||applicable|16.00|
|Generati|||||||||
|on|||||||||
||||||||Voting||
||||||||rights||
||||||||should||
||||||||base on||
|Yudean|||||||||
||||||||the||
|Zhanjian|||||||||
||||||||relevant||
|g Wind|Cost|242,277,0|242,277,0|242,277,0||||8,030,774|
||||||70.00%|60.00%|provision||
|Power|method|00.00|00.00|00.00||||.00|
||||||||s of the||
|Generati|||||||||
||||||||articles of||
|on|||||||||
||||||||associatio||
||||||||n in such||
||||||||subsidiari||
||||||||es||
|Guangdo|||||||||
|ng|Cost|20,000,00|20,000,00|20,000,00|||Not||
||||||100.00%|100.00%|||
|Yudean|method|0.00|0.00|0.00|||applicable||
|Anxin|||||||||
|Guangdo|||||||||
|ng|||||||||
|Yudean|||||||||
||Cost|90,000,00|90,000,00|90,000,00|||Not||
|Humen|||||60.00%|60.00%|||
||method|0.00|0.00|0.00|||applicable||
|Power|||||||||
|Generatio|||||||||
|n|||||||||
|Zhanjiang|||||||||
|Zhongy|Cost|1,150,248|1,150,248|1,150,248|||Not|12,901,72|
||||||90.00%|90.00%|||
|ue|method|,115.00|,115.00|,115.00|||applicable|9.00|
|Energy|||||||||
|Guangdo|||||||||
|ng|Cost|1,085,000|1,085,000|1,085,000|||Not||
||||||100.00%|100.00%|||
|Yudean|method|,000.00|,000.00|,000.00|||applicable||
|Bohe|||||||||
|Shenzhen|Cost|1,353,153|1,353,153|1,353,153|100.00%|100.00%|Not|136,028,6|

|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|Guangqi|method|,223.00|,223.00||,223.00|||applicable|83.00|
|an||||||||||
|||||||||Voting||
|||||||||rights||
|||||||||should||
|||||||||base on||
|||||||||the||
|Shibeisha||||||||relevant||
||Cost|170,863,4|170,863,4||170,863,4||||2,210,148|
|n Wind||||||70.00%|60.00%|provision||
||method|81.00|81.00||81.00||||.00|
|Power||||||||s of the||
|||||||||articles of||
|||||||||associatio||
|||||||||n in such||
|||||||||subsidiari||
|||||||||es||
|Red Bay||||||||||
|Power|Cost|2,220,023|2,220,023||2,220,023|||Not|330,435,1|
|||||||65.00%|65.00%|||
|Generati|method|,386.00|,386.00||,386.00|||applicable|07.00|
|on||||||||||
|||||||||Agreed ac||
|||||||||tion agree||
|||||||||ment with||
|Huizhou||||||||||
|||||||||sharehol||
|Pinghai||||||||||
||Cost|720,311,3|720,311,3||720,311,3|||ders holdi|446,630,1|
|Power||||||45.00%|85.00%|||
||method|47.00|47.00||47.00|||ng 40% st|44.00|
|Generati||||||||||
|||||||||ake of Pin||
|on||||||||||
|||||||||ghai Pow||
|||||||||er Genera||
|||||||||tion Plant||
|Huihou||||||||||
||Cost|845,846,6|845,846,6||845,846,6|||Not|92,691,39|
|Natural||||||67.00%|67.00%|||
||method|46.00|46.00||46.00|||applicable|3.00|
|gas||||||||||
|Yudean||||||||||
|Huadu|Cost|78,000,00|78,000,00||78,000,00|||Not||
|||||||65.00%|65.00%|||
|Natural|method|0.00|0.00||0.00|||applicable||
|gas||||||||||
|Guangdo||||||||||
|ng||||||||||
|Yudean||||||||||
||Cost|700,000,0|600,000,0|100,000,0|700,000,0|||Not||
|Dapu||||||100.00%|100.00%|||
||method|00.00|00.00|00.00|00.00|||applicable||
|Power||||||||||
|Generatio||||||||||
|n||||||||||

||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|Guangdo|||||||||||
||Cost|212,782,4|172,782,4|40,000,00|212,782,4|||Not|||
|ng Wind||||||100.00%|100.00%||||
||method|00.00|00.00|0.00|00.00|||applicable|||
|Power|||||||||||
|||21,119,84|21,772,23|628,783,2|22,401,01||||455,584,2|1,985,889|
|Total|--|||||--|--|--|||
|||8,018.00|2,192.00|02.00|5,394.00||||67.00|,970.00|

 4. Business income, Business cost
（1）Business income
In RMB
|||||||
|-|-|-|-|-|-|
||Items||Amount of current period||Amount of previous period|
||Income from Business income||1,328,220,705.00||1,475,801,370.00|
||Other Business income||8,122,383.00||19,128,437.00|
|Total||1,336,343,088.00||1,494,929,807.00||
|Business cost||1,020,967,418.00||1,190,666,864.00||

（2）Mainbusiness（Industry）
In RMB
||||||||
|-|-|-|-|-|-|-|
|Name||Amount of current period|||Amount of previous period||
||Business income||Business cost|Business income||Business cost|
|Power Generation|1,328,220,705.00||1,016,529,956.00|1,475,801,370.00||1,174,729,882.00|
|Supply heat|0.00||0.00|0.00||0.00|
|Labor|0.00||0.00|0.00||0.00|
|Total|1,328,220,705.00||1,016,529,956.00|1,475,801,370.00||1,174,729,882.00|

（3）Mainbusiness（Production）
In RMB
||||||||
|-|-|-|-|-|-|-|
|Name||Amount of current period|||Amount of previous period||
||Business income||Business cost|Business income||Business cost|
|Electricity sales income|1,328,220,705.00||1,016,529,956.00|1,475,801,370.00||1,174,729,882.00|
|Steam revenue|0.00||0.00|0.00||0.00|
|Labor income|0.00||0.00|0.00||0.00|
|Total|1,328,220,705.00||1,016,529,956.00|1,475,801,370.00||1,174,729,882.00|

（4）MainBusiness（Area）
In RMB
||||||||
|-|-|-|-|-|-|-|
|Name||Amount of current period|||Amount of previous period||
||Business income||Business cost|Business income||Business cost|
|Guangdong|1,328,220,705.00||1,016,529,956.00|1,475,801,370.00||1,174,729,882.00|
|Total|1,328,220,705.00||1,016,529,956.00|1,475,801,370.00||1,174,729,882.00|

（5）Total income and the ratio of operating income from top five clients
In RMB
|||||||
|-|-|-|-|-|-|
||Name||Business Income||Proportion(%)|
|GPGC||1,328,220,705.00||99.39%||
|Yudean Envionmental protection||4,404,611.81||0.33%||
|Dongguan Humen Jinfan Industry||2,462,505.23||0.18%||
|Guangdong Yudean Anxin Electric||22,214.70||0.00%||
|Shenzhen Guangshen Shajiao B Electric||356,019.64||0.03%||
|Total||1,335,466,056.38||99.93%||

 5. Investment income
（1）Income from investment
In RMB
|||||||
|-|-|-|-|-|-|
||Items||Amount of current period||Amount of previous period|
|Income from long-term equity investment measured by||||||
|||1,856,636,460.00||795,971,720.00||
|adopting the cost method||||||
|Income from long-term equity investment measured by||||||
|||336,254,319.00||348,882,444.00||
|adopting the Equity method||||||
|hold the investment income which gained from the||||||
|||12,651,008.00||10,929,014.00||
|transactional financial assets||||||
|Hold the investment income during from available-for-sale||||||
|||2,100,000.00||7,503,870.00||
|financial assets||||||
|Other||-1,557,751.00||342,586.00||
|Total||2,206,084,036.00||1,163,629,634.00||

（2）Long term equity investment calculated to costmethod：
In RMB
|||||||
|-|-|-|-|-|-|
|Name||Amount of current||Amount of|Change cause|
|||period||previous period||
|Shenzhen Guangqian|136,028,683.00||150,548,852.00||Dividend Changes|

|||||
|-|-|-|-|
|Zhanjiang Electric|202,176,989.00|90,566,992.00|Dividend Changes|
||||Dividend Changes|
|Jinghai Power Generation|601,541,616.00|189,301,031.00||
|Zhanjiang Zhongyue Energy|12,901,729.00|0.00|Dividend Changes|
||||Dividend Changes|
|Huizhou Natural gas|92,691,393.00|0.00||
|Red Bay Power Generation|330,435,107.00|352,692,345.00|Dividend Changes|
||||Dividend Changes|
|Huizhou Pinghai Power Generation|446,630,144.00|0.00||
|Yudean Zhanjiang Wind Power|8,030,774.00|0.00|Dividend Changes|
||||Dividend Changes|
|Yudean Shibeishan Wind Power|2,210,148.00|0.00||
|Maoming Zhenneng|11,127,377.00|0.00|Dividend Changes|
|Shenzhen Chuangxin Technology|12,862,500.00|12,862,500.00||
|Total|1,856,636,460.00|795,971,720.00|--|

（3）Long term equity investment calculated via equity method
In RMB
|||||||
|-|-|-|-|-|-|
|Name||Amount of current||Amount of|Change cause|
|||period||previous period||
|Yangshan Zhongxinkeng Power Company|723,608.00||0.00|||
|Yudean West Investment Company|-568,387.00||-2,304,294.00|||
|Linchang Yuntou Yudean|-970,058.00||-1,358,517.00|||
|Guangdong Yudean Shipping|5,528,070.00||876,582.00|||
|Weixin Yuntou Yudean|-15,572,033.00||19,555,698.00|||
|Huaneng Shantou Wind Power|3,227,933.00||2,828,476.00|||
|Shanxi Yudean Energy|41,187,369.00||61,698,543.00|||
|Guangdong Yudean Finance|47,508,098.00||47,704,241.00|||
|Yunnan Baoshan Binlangjiang|-7,470,355.00||-11,937,000.00|||
|Guangdong Fuel Company|43,086,571.00||34,386,531.00|||
|Guangdong Guohua Yudean Taishan|219,573,503.00||197,432,184.00|||
|Total|336,254,319.00||348,882,444.00||--|

6. Supplement information of Cash Flow Statement
In RMB
||||
|-|-|-|
|Items|Amount of current period|Amount of previous period|

|||||||
|-|-|-|-|-|-|
||1. Adjusting net profit to net cash flow in operating activities:||--||--|
||Net profit|2,251,336,725.00||1,212,841,957.00||
|Depreciation of fixed assets, oil and gas assets and consumable||78,685,807.00||||
|||||75,147,694.00||
|biological assets||||||
|Amortization of intangible assets||1,885,220.00||1,806,124.00||
|The losses on the disposal of fixed assets, intangible assets and other||-514,726.00||||
|long-term assets||||||
||Financial expenses||189,821,719.00||176,608,705.00|
||Investment losses||-2,206,084,036.00||-1,163,629,634.00|
|Decrease in inventory||16,888,254.00||-26,236,094.00||
||Decrease in operating receivable||-35,597,062.00||24,584,130.00|
||Increase in operating payables||163,965,900.00||36,940,077.00|
|Other||||797,316.00||
|Net cash flows from operating activities||460,387,801.00||338,860,275.00||
||2.Investing and financing activities that do not involve cashreceipts and payments|--||--||
|3.Net increase in cash and cash equivalents||--||--||
||Cash at the end of the period||673,732,521.00||1,102,960,809.00|
||Less：Cash at the beginning of the period||296,476,854.00||333,626,540.00|
|Net increase in cash and cash equivalents||377,255,667.00||769,334,269.00||

 XIII.Supplement information
1. Statement of non-recurring Profit or loss
In RMB
||||
|-|-|-|
|Items|Amount|Notes|
|Non-current asset disposal gain/loss(including the write-off partfor which assets impairment provision is made)||Mainly due to the loss on|
|||retirement of assets of Red Bay's|
||-19,343,827.00||
|||transformation demolition crew|
|||denitration|
|Govemment subsidy recognized in current gain and loss|||
|(excluding those closely related to the Company’s business and|9,328,462.00||
|granted under the state’s policies)|||
|Gain/loss on loans obtained by entrusting others|607,511.00||
|Other non-business income and expenditutes other than the above|-3,975,261.00||
|||Recovery of written-off|
|Eliminations / reversal of impairment of the assets|2,062,288.00||
|||receivables etc.|

||||
|-|-|-|
|Less：Influenced amount of income tax|-3,370,207.00||
|Influenced amount of minor shareholders’ equity (After tax)|-3,264,178.00||
|Total|-4,686,442.00|--|

The government subsidy recorded into the current gains and losses items shall be disclosed the recognized reason.√Appkicable□ Not applicable
||||
|-|-|-|
|Items|Amount（RMB）|Reason|
|Claimed and returned VAT re|||
||4,666,419.00|Closely related to the daily business of company|
|venue|||

2.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.
In RMB
||||||
|-|-|-|-|-|
||Net profit attributable to the shareholders of the||Net assets attributable to the shareholders of the||
||listed company||listed comapny||
||Amount in the|Amount in the previous|End of the reporting|Beginning of the|
||reporting period|period|period|reporting period|
|According to CAS|1,644,460,546.00|1,357,484,280.00|19,815,503,952.00|19,054,914,050.00|
|Items and amount adjusted according to IAS|||||
|Land use right amortization|0.00|-3,736,000.00|0.00|0.00|
|The difference arising from|||||
|recognition of goodwill after|||||
||0.00|0.00|64,623,000.00|64,623,000.00|
|merger of enterprises under|||||
|the same control|||||
|Difference arising from|||||
|recognition of land use value|-315,000.00|-315,000.00|20,435,000.00|20,750,000.00|
|after enterprise merger|||||
|Influence on minority interests|27,060.00|348,000.00|4,566,679.00|4,539,619.00|
|According to IAS|1,644,172,606.00|1,353,781,280.00|19,905,128,631.00|19,141,826,669.00|

 (2)Note to the Difference in the Accounting Data based on the Accounting Standards of CAS and IAS.
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.
3.Return on net assets and earnngs per share
In RMB
|||||
|-|-|-|-|
|||Earnings per share||
||Weighted average return on|||
|Profit of report period|||Diluted eqrnings per|
||equity（%）|Basic earnings per share||
||||share|
|Net profit attributable to the Common stock||||
||8.27%|0.38|0.38|
|shareholders of Company.||||
|Net profit attributable to the Common stock||||
|shareholders of Company after deducting of|8.30%|0.38|0.38|
|non-recurring gain/loss.||||

4. The explanation of abnormal circumstance and reasons of items in major accounting statement.
Monetary capital: The ending balance increased by RMB 767 million over year-beginning balance , The net cash inflow of thecompany’s business activities is greater than the financing and investing activities net cash outflow; Fixed assets: The ending balance decreased by RMB 1.275 billion over year-beginningbalance，It is mainly caused by the depreciation of the calculation and extraction assets of this period;
Construction in progress: The ending balance increased by RMB 414 million over year-beginningbalance，It is mainly caused by the increase of the construction projects like Yuejiang‘ New Big Power Units While Closing Small Ones ”Project, Bohe Project and Dapu Project.;
Bills payable: The ending balance decreased by RMB 792 million over year-beginning balance，It is mainly caused by the reduction of the bills which should be paid by Jinghai Company and Zhongyue Company at the end period;
Other receivable: The ending balance decreased by RMB 557 million over year-beginning balance,Mainly due to the payable for projects and equipment purchasing reduced;
Non-current Liability due to 1year：The ending balance increased by RMB 2.302 billion over year-beginning
balance，It is mainly caused by due bond RMB2 billion which should be paid within one year;
Other current liabilities: The ending balance decreased by RMB 1.349 billion over year-beginningbalance，It is mainly caused by paying for short-term due financing bonds for this period;
Long-termloans：The ending balance increased by RMB2.095billion over year-beginningbalance， Among them, the long-term loans of Red Bay Company, Jinghai Company increased by RMB 1.645 billion, RMB 955 million respectively;
Bonds payable: The ending balance decreased by RMB 1.997 billion over year-beginningbalance，The bond which is due within one year and which the company should pay was resorted into non-current liabilities which is due within one year;
Gross profit increased RMB 424 million compared with same period last year, increased by2.92%.Inclding : While the combination online power supply increased 1.501 billion KW, the income of power supply increased RMB678 million; the income of power supply influenced by the electricity price with decreasing RMB248 million.
The total business cost decreased RMB 177 million compared with same period last year, decreased by1.42%. Hereinto, the power fuel cost influenced by power supply with increasing RMB440 million, and the power fuel cost influenced by coal price with decreasing RMB652 million.
The financial expenses decreased RMB95 million compared with same period last year, decreased by9.71%, compared with the end of June last year,thecompany’s loan scale decreased about RMB3.5 billion, which lead to the decrease of financial expenses of this period.
Income tax expense: Due to increased profits, income tax expenses increased.
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 : Pan Li
August 26, 2014