Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 Guangdong Provincial Expressway Development
Co.，Ltd.
The Third Quarterly Report 2019
October 2019
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 I.ImportantNotice
The Board of Directors and the Supervisory Committee of the Company and its directors, supervisors and senior executivesshouldguaranteethereality,accuracyandcompletionofthequarterlyreport,therearenoanyfictitious statements, misleading statements or important omissions carried in this report, and shall take legal responsibilities,individualandorjoint.
AllofthedirectorspresentedtheboardmeetingatwhichthisQuarterlyReportwasexamined.
Mr.Zheng Renfa, Leader, Mr.Wang Chunhua, General Manager, Mr. Fang Zhi, Chief of the accounting work,Ms ZhouFang,Chiefoftheaccountingorgan(chiefofaccounting)herebyconfirmtheauthenticityandcompleteness ofthefinancialreportenclosedinthisreport.
II.BasicInformationoftheCompany
（1）Mainfinancialdataandfinancialindex
IndicatebytickmarkwhethertheCompanyneedstoretroactivelyrestateanyofitsaccountingdata.
√Yes□No
Reasonsforretrospectiverestatements:
Accountingpolicychange
||||||
|-|-|-|-|-|
||Thisperiod|Sameperiodoflastyear||Changesofthisperiodoversameperiodoflastyear（％）|
|||Beforeadjustment|Afteradjustment|Afteradjustment|
|Grossassets（Yuan）|16,977,369,289.08|16,295,910,774.45|16,295,910,774.45|4.18%|
|Netassetsattributabletotheshareholdersofthelistedcompany（Yuan）|9,588,602,867.94|9,586,701,904.06|9,586,701,904.06|0.02%|
||Reportingperiod|Increase/decreaseoverthesameperiodoflastyear（%）|Betweenbeginningoftheyeartotheendofthereportperiod|Changed （%）overendofprev.year|
|Operatingrevenue(Yuan）|796,831,081.45|-6.34%|2,280,504,326.66|-4.45%|

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||||
|-|-|-|-|-|
|Netprofitattributabletotheshareholdersofthelistedcompany（Yuan）|371,244,455.76|-15.88%|1,107,730,568.06|-9.23%|
|Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany（Yuan）|372,502,498.79|-12.80%|1,097,541,533.87|-7.00%|
|Cashflowgeneratedbybusinessoperation,net（Yuan）|--|--|1,634,783,603.99|13.60%|
|Basicearningpershare(RMB/Share)|0.18|-14.29%|0.53|-8.62%|
|Dilutedgainspershare(Yuan/Share)|0.18|-14.29%|0.53|-8.62%|
|Weightedaverageincome/assetratio（%）|3.95%|-0.96%|11.48%|-2.02%|

ThereasonsforthechangeofAccountingPolicyandtheCorrectionofAccountingerrors
On April 30, 2019, the Notice of the Ministry of Finance on Revising and Issuing the Format of Financial Statements of General Enterprises (No. 6 Finance and Accounting[2019]) issued by the Ministry of Finance adjusts the format of financial statements of enterprises accordingly, and regulates that the detailed items of "management expenses" and"R&D expenses" should be separated from the items of "management expenses" in the profit statement; it also indicates that the actual government subsidies received should be listed in the item "cash received from other business activities". In response to such change of accounting policy, the Company adoptstheretroactiveadjustmentmethodtoretroactivelyadjusttheitemsreportedinthefinancialstatementsfrom JanuarytoSeptemberin2018.
Itemsandamountofnon-currentgainsandlosses
√Applicable□Notapplicable
In RMB
||||
|-|-|-|
|Items|Amount(Year-beginningtotheendofthereportperiod.)|Notes|
|Non-currentassetdisposalgain/loss(includingthewrite-offpartforwhichassetsimpairmentprovisionismade)|10,469,562.85|Mainlyduetothetransferofintellectual propertyincome relatedto“BlueChannel”byGuangdong Expressway TechnologyInvestmentCo.,Ltd.|
|Govemmentsubsidiesrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies)|1,146,092.93||
|Othernon-businessincomeandexpendituresotherthanthe|-84,324.89||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amount(Year-beginningtotheendofthereportperiod.)|Notes|
|above|||
|Less:Amountofinfluenceofincometax|1,771,748.41||
|Amountofinfluenceofminorityinterests(aftertax)|-429,451.71||
|Total|10,189,034.19|--|

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 explanatoryannouncementasarecurrentgain/lossitem.
□Applicable√Notapplicable
NoneofNon-recurringgain/lossitemsrecognizedasrecurringgain/loss/itemsasdefinedbytheinformationdisclosureexplanatoryAnnouncementNo.1-Non–recurringgain/lossinthereportperiod.
II.TotalShareholdersandSharesHeldbyTopTenShareholdersattheEndoftheReportingPeriod 1.AboutTotalCommonShareholders,TotalPreferenceShareholderswiththeVotingPowerRecovered andtheSharesHeldbyTopTenCommonShareholders
In shares
||||||||||
|-|-|-|-|-|-|-|-|-|
|Totalnumberofcommonshareholdersattheperiod-end||56,063||Totalpreferenceshareholderswiththevotingpowerrecoveredattheendofthereportingperiod(ifany)|||0||
|Sharesheldbythetop10shareholders|||||||||
|Shareholdername|Propertiesofshareholder|Shareproportion%|Quantity||AmountoftradableshareswithConditionalheld|Pledgingorfreezing|||
|||||||Statusoftheshares||Quantity|
|GuangdongCommunicationGroupCo.,Ltd.|State-ownedlegalperson|24.56%|513,412,507||410,032,765||||
|GuangdongHighwayConstructionCo.,Ltd,|State-ownedlegalperson|22.30%|466,325,020||||||
|YadongFuxingYalian|Domestic nonState-own|9.68%|202,429,149||||||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||||
|-|-|-|-|-|
|InvestmentCo.,Ltd.|edLegalperson||||
|TibetYingyueInvestmentManagementCo.,Ltd.|State-ownedlegalperson|4.84%|101,214,574||
|GuangdongExpresswayCo.,Ltd.|State-ownedlegalperson|2.53%|52,937,491|19,582,228|
|GuangfaSecuritiesCo.,Ltd.|State-ownedlegalperson|1.45%|30,364,372||
|ChinaLifeInsuranceCo.,Ltd.－Dividend－Personaldividend-005L-FH002Shen|Other|1.26%|26,372,664||
|ChinaLifeInsuranceCo.,Ltd.－Traditional－Commoninsuranceproducts-005L-CT001Shen|Other|1.17%|24,436,318||
|AgriculturalBankofChina－JingshunGreatWallEnergyInfrastructureMixedSecuritiesInvestmentFund|Other|0.95%|19,909,303||
|FengWuchu|Domesticnaturalpersonshares|0.94%|19,664,788||
|SharesheldbytheTop10ShareholdersofNon-restrictedshares|||||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
|||||
|-|-|-|-|
|Shareholders’Names|Numberofthenon-restrictedsharesheld|Sharetype||
|||Sharetype|Quantity|
|GuangdongHighwayConstructionCo.,Ltd,|466,325,020|RMBCommonshares|466,325,020|
|YadongFuxingYalianInvestmentCo.,Ltd.|202,429,149|RMBCommonshares|202,429,149|
|GuangdongCommunicationGroupCo.,Ltd.|103,379,742|RMBCommonshares|103,379,742|
|TibetYingyueInvestmentManagementCo.,Ltd.|101,214,574|RMBCommonshares|101,214,574|
|GuangdongExpresswayCo.,Ltd.|33,355,263|RMBCommonshares|33,355,263|
|GuangfaSecuritiesCo.,Ltd.|30,364,372|RMBCommonshares|30,364,372|
|ChinaLifeInsuranceCo.,Ltd.－Dividend －Personaldividend-005L-FH002Shen|26,372,664|RMBCommonshares|26,372,664|
|ChinaLifeInsuranceCo.,Ltd.－Traditional－Commoninsuranceproducts-005L-CT001Shen|24,436,318|RMBCommonshares|24,436,318|
|AgriculturalBankofChina－JingshunGreatWallEnergyInfrastructureMixedSecuritiesInvestmentFund|19,909,303|RMBCommonshares|19,909,303|
|FengWuchu|19,664,788|RMBCommonshares|17,564,325|
|||Foreignsharesplacedindomesticexchange|2,100,463|
|Explanationonassociatedrelationshiporconcertedactionoftheaboveshareholders|GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd.andGuangdongExpresswayCo.,Ltd.ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies.|||
|Participationoftop10unconditionalcommonshareshareholdersinsecuritiesmargintrading(ifany)|Nil|||

Whethertoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldhavea
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 buy-backagreementdealinginreportingperiod.
□Yes√No
Thetoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldoftheCompanyhavenobuy–backagreementdealinginreportingperiod.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the reportperiod
□Applicable√Notapplicable
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 IIISignificantEvents
I.Majorchangesofmainaccountingstatementitemsandfinancialindicatorsinthereportingperiod,aswellas reasonsforthechanges
√Applicable□Notapplicable
（I）Itemsofbalancesheetascomparedwiththesameperiodofthepreviousyear
1.Advance payment increased by 15.81 million yuan and826.56% over the beginning of the year, Mainly due to the prepayment cancelation of the provincial toll station project payment by Guangdong Expressway Technology InvestmentCo.,Ltd.
2.Dividend receivable increased by 9.38 million yuan and778.41% over the beginning of the year,Mainly due to thenewlyaddedcashdividendsreceivableofGanzhouKangdaExpresswayCo.,Ltdinthisreportingperiod. 3.Other non-current assets increased by 38.98 million yuan and39.06% over the beginning of the year, Mainly due to the increase in the amount of deductable input taxes and the prepaid project payment of Sanbao to Shuikou sectionofFokaiExpressway.
4. Item received in advance increased by 5.92 million yuan and49.19% over the beginning of the year, Mainly dueto theprocurementpaymentoftheelectronictollcollectionsystem(ETC) receivedinadvancebyGuangdong ExpresswayTechnologyInvestmentCo.,Ltd.
5.Interest payableincreasedby16.36millionyuanand182.31%over thebeginningof theyear,Mainly duetothe increase in interest on the medium-term notes accrued by theCompany；Other account payable increased by 127.54 million yuan and77.25% over the beginning of the year, Mainly due to the increase in one-year entrusted loansborrowedbytheCompanyfromGuangdongGuanghuiExpresswayCo.,Ltd.
6.Non-currentliabilitiesdue1yeardecreasedby1819.13millionyuanand72.81%overthebeginningoftheyear, Mainly due to the comprehensive impact of the Company's repayment of maturity loans and the long-term borrowingsreclassifiedtothesubject.
7.Long-termborrowingincreasedby1746.82millionyuanand58.56%overthebeginningoftheyear,Mainlydue tothecombinedimpactbytheCompany'snewloans,advancedrepaymentofloansandthereclassifiedintonon-current liabilitiesduewithinoneyear.
8.Bondspayableincreasedby678.01millionyuanoverthebeginningoftheyear,Mainlyduetothebookvalueof the 5-year medium-term notes issuedbythe Company with afacevalue of 680million yuan asdeterminedby the effectiveinterestmethod.
(II)Itemsofincomestatementascomparedwiththesameperiodofthepreviousyear
1.Operating income decreased by RMB 106.13 million and 4.45% year on year, Mainly due to the following factors:ThemainlineofFoshanFirstRingRoad,YunzhanExpresswayandGao'enExpresswayareopentotraffic, and the traffic flow of the Fokai Expressway is diverted, which reduces the toll revenue of Fokai Expressway; affected by the comprehensive impact of the restriction on the passage of more than 40-seats buses, the traffic flow diverted due to the opening of the Nansha Bridge and the first phase of the Fanguan Expressway, the toll revenue of the Beijing-Zhuhai Expressway Guangzhu Section decreased; due to the natural increase in traffic volume and the traffic volume increase caused by the closure of some sections of Foshan First Ring Road for reconstruction,theGuangfoExpresswaytollrevenueincreasedslightly.
2.R&DexpensesdecreasedbyRMB3.03millionand100%yearonyear,MainlyduetothecompanydidnothaveR&Dexpendituresthisyear.
3.The Assets disposal income decreased by 53.24 million yuan and80.22% year on year,Mainly due to the
comprehensive impact of the disposal income of the 4.213 km expressway asset repurchased by the Zhuhai
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 High-tech Zone Management Committee recognized by Beijing-Zhuhai Expressway Guangzhu Section Co., Ltd duringthesameperiodlastyearandthedisposalincomeofthe“BlueChannel”assetsrecognizedinthisperiodby GuangdongExpresswayTechnologyInvestmentCo.,Ltd.
(III)Notesofmainitemsofcashflowstatement
1.Taxespaid
Mainlyduetocalculatetheincometax,value-addedtaxanditsadditionaltaxesandfeesactuallypaidinthecurrentperiod.Thecurrentperioddecreasedby349.85millionyuanand53.01%yearonyear，Mainlyduetoin thesameperiodlastyear,GuangdongFokaiExpresswayCo.,Ltd(deregistered)paidtheassessedvalue-added incometax,andtherewasnosuchsituationinthecurrentperiod.
2.Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets decreased by 214.22 million yuan and93.88% year on year, Mainly due to in the same period last year, Jingzhu Expressway Guangzhu Section Co., Ltd. received the compensation for the 4.213 km expressway asset of the Zhuhai section of the Guang'ao Expressway transferred from the Zhuhai High-tech Zone Management Committee. and there was no such situation in the current period. Guangdong Expressway Technology Investment Co., Ltd received the fundsfromthetransferoftherelatedintellectualpropertyassetsgroupofthe“BlueChannel”.
3. Cash received from borrowing increased by RMB 2497.70 million and198.39% year on year,The reason wasthattheparentcompany'sborrowingincreasedinthecurrentperiod
4.CashtorepaydebtsincreasedbyRMB1526.52millionand102.62%year onyear,Thereasonwasthatthe parentcompany'sborrowingincreasedinthecurrentperiod
II. The progress of significant events and influence, as well as the analysis and explanation on resolving proposal.
□Applicable√Notapplicable
Progressintheimplementationofsharerepurchase
□Applicable√Notapplicable
Progressintheimplementationofthereductionoftherepurchasedsharesbymeansofcentralizedbidding□Applicable√Notapplicable
III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer, directors, supervisors, senior executives or other related parties in the reporting period and commitments unfinishedinimplementationattheendofthereportingperiod
□Applicable√Notapplicable
Thecompanyhasnocommitmentscompletedinperiodandthosewithoutcompletedtilllendoftheperiodfrom actualcontroller,shareholders,relatedparties,purchaserandcompanies.
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 IV.Investmentinsecurities
√Applicable□Notapplicable
In RMB
|||||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|-|-|-|
|Securitycategory|Securitycode|StockAbbreviation:|Initialinvestmentcost|Mode ofaccountingmeasurement|Bookvaluebalanceatthebeginningofthereportingperiod|Changes infair value ofthe thisperiod|Cumulativefairvaluechangesinequity|Purchaseamountinthethisperiod|Saleamountinthethisperiod|Gain/lossofthereportingperiod|Bookvaluebalanceattheendofthereportingperiod|Accountingitems|Sourceoftheshares|
|Domesticandforeignstocks|601818|ChinaEverbrightBank|517,560,876.80|FVM|870,443,292.80||409,343,602.56|||37,876,045.98|926,904,479.36|Investmentinotherequityinstruments|Selffund|
|Total|||517,560,876.80|--|870,443,292.80|0.00|409,343,602.56|0.00|0.00|37,876,045.98|926,904,479.36|--|--|
|DisclosuredateforthenoticeofapprovalbytheBoard(Ifany)|||July22,2009|||||||||||
|Disclosuredateforthenoticeofapprovalbyshareholders’Meeting(Ifany)|||August7,2009|||||||||||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 V.EntrustedFinancialManagement
□Applicable√Notapplicable
ThereisnoEntrustedFinancialManagementduringthereportperiod.
VI.Investmentinderivatives
□Applicable√Notapplicable
Thereisnoderivativeinvestmentduringthereportperiod.
VII. The registration form of acceptance of investigation, communication and interview in the report periodforfuturereference
√Applicable□Notapplicable
|||||
|-|-|-|-|
|Receptiontime|Wayofreception|Typesofvisitors|Basicindex|
|July9,2019|Onsiteinvestigation|Organization|1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports|
|August30,2019|Byphone|Organization|1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports|

 VIII.Externalguaranteegetoutofline
□Applicable√Notapplicable
TheCompanyhasnoexternalguaranteegetoutofthelineinthePeriod
IX.Controllingshareholderanditsrelatedpartiesoccupyingnon-businesscapitalofthelistedcompany□Applicable√Notapplicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company inPeriod
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 IV.FinancialStatement
I.Financialstatement
1.Consolidatedbalancesheet
Preparedby：GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
September30,2019
InRMB
||||
|-|-|-|
|Items|September30,2019|December31,2018|
|Currentasset：|||
|Monetaryfund|2,608,107,818.50|2,124,524,996.32|
|Settlementprovision|||
|Outgoingcallloan|||
|Transactionalfinancialassets|||
|Financialassetsmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount|||
|Derivativefinancialassets|||
|Notesreceivable|||
|Accountreceivable|94,364,130.30|91,076,995.07|
|Financingofreceivables|||
|Prepayments|17,724,649.63|1,912,943.40|
|Insurancereceivable|||
|Reinsurancereceivable|||
|ProvisionsofReinsurancecontractsreceivable|||
|Otheraccountreceivable|28,981,121.30|16,487,256.02|
|Including：Interestreceivable|||
|Dividendreceivable|10,589,003.82|1,205,472.90|
|Otherreceivable|18,392,117.48|15,281,783.12|
|Repurchasingoffinancialassets|||
|Inventories|110,142.49|81,017.91|
|Contractassets|||
|Assetsheldforsales|||
|Non-currentassetduewithin1year|51,745.32|51,745.32|
|Othercurrentasset|||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|September30,2019|December31,2018|
|Totalofcurrentassets|2,749,339,607.54|2,234,134,954.04|
|Non-currentassets：|||
|Loansandpaymentonother’sbehalfdisbursed|||
|Debtinvestment|||
|Availableforsaleoffinancialassets||1,668,791,594.53|
|Otherinvestmentonbonds|||
|Expiredinvestmentinpossess|||
|Long-termreceivable|||
|Longtermshareequityinvestment|3,308,550,142.93|3,145,644,970.07|
|Otherequityinstrumentsinvestment|1,725,252,781.09||
|Othernon-currentfinancialassets|||
|Propertyinvestment|3,386,779.99|3,579,007.54|
|Fixedassets|7,736,561,699.25|7,600,046,319.91|
|Including：Fixedassets|7,736,550,560.39|7,600,046,319.91|
|Liquidationoffixedassets|11,138.86||
|Constructioninprogress|927,486,048.46|1,089,473,425.63|
|Including： Constructioninprogress|925,936,492.46|1,087,923,869.63|
|EngineeringMaterials|1,549,556.00|1,549,556.00|
|Productionphysicalassets|||
|Oil&gasassets|||
|Userightassets|||
|Intangibleassets|4,275,730.21|5,739,020.48|
|Developmentexpenses|||
|Goodwill|||
|Long-germexpensestobeamortized|1,168,273.16|1,221,781.88|
|Deferredincometaxasset|382,568,788.55|447,485,034.79|
|Othernon-currentasset|138,779,437.90|99,794,665.58|
|Totalofnon-currentassets|14,228,029,681.54|14,061,775,820.41|
|Totalofassets|16,977,369,289.08|16,295,910,774.45|
|Currentliabilities|||
|Short-termloans|||
|LoanfromCentralBank|||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|September30,2019|December31,2018|
|Borrowingfunds|||
|Transactionalfinancialliabilities|||
|Financialliabilitiesmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount|||
|Derivativefinancialliabilities|||
|Notespayable|||
|Accountpayable|175,782,922.78|203,779,190.74|
|Advancereceipts|17,962,010.45|12,039,708.01|
|ContractLiabilities|||
|Sellingofrepurchasedfinancialassets|||
|Deposittakingandinterbankdeposit|||
|Entrustedtradingofsecurities|||
|Entrustedsellingofsecurities|||
|Employees’wagepayable|13,904,082.42|13,122,437.17|
|Taxpayable|108,133,060.11|104,198,746.06|
|Otheraccountpayable|337,976,604.89|191,254,464.84|
|Including：Interestpayable|25,328,104.93|8,971,576.57|
|Dividendpayable|20,020,119.31|17,191,142.23|
|Otheraccountpayable|292,628,380.65|165,091,746.04|
|Feesandcommissionspayable|||
|Reinsurancefeepayable|||
|Liabilitiesheldforsales|||
|Non-currentliabilityduewithin1year|679,355,000.00|2,498,480,000.00|
|Othercurrentliability|||
|Totalofcurrentliability|1,333,113,680.65|3,022,874,546.82|
|Non-currentliabilities：|||
|Reservefundforinsurancecontracts|||
|Long-termloan|4,729,862,500.00|2,983,040,000.00|
|Bondpayable|678,013,637.73||
|Including：preferredstock|||
|Sustainabledebt|||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|September30,2019|December31,2018|
|Leaseliability|||
|Long-termpayable|39,625,983.68|38,022,210.11|
|Including：Long-termpayable|39,625,983.68|38,022,210.11|
|Specialpayable|||
|Long-termremunerationpayabletostaff|||
|Expectedliabilities|||
|Deferredincome|||
|Deferredincometaxliability|205,807,094.55|205,672,389.59|
|Othernon-currentliabilities|||
|Totalnon-currentliabilities|5,653,309,215.96|3,226,734,599.70|
|Totalofliability|6,986,422,896.61|6,249,609,146.52|
|Owners’equity|||
|Sharecapital|2,090,806,126.00|2,090,806,126.00|
|Otherequityinstruments|||
|Including：preferredstock|||
|Sustainabledebt|||
|Capitalreserves|2,562,570,465.31|2,536,774,965.31|
|Less：Sharesinstock|||
|Othercomprehensiveincome|299,870,466.92|245,109,114.81|
|Specialreserve|||
|Surplusreserves|775,402,561.35|775,402,561.35|
|Commonriskprovision|||
|Retainedprofit|3,859,953,248.36|3,938,609,136.59|
|Totalofowner’sequitybelongtotheparentcompany|9,588,602,867.94|9,586,701,904.06|
|Minorityshareholders’equity|402,343,524.53|459,599,723.87|
|Totalofowners’equity|9,990,946,392.47|10,046,301,627.93|
|Totalofliabilitiesandowners’equity|16,977,369,289.08|16,295,910,774.45|

 LegalRepresentative:ZhengRenfa
GeneralManager:WangChunhua
Person-in-chargeoftheaccountingwork：FangZhi
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019Person-in-chargeoftheaccountingorgan：ZhouFang
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 2.ParentCompanyBalanceSheet
In RMB
||||
|-|-|-|
|Items|September30,2019|December31,2018|
|Currentasset：|||
|Monetaryfund|2,541,791,378.47|2,096,597,568.04|
|Transactionalfinancialassets|||
|Financialassetsmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount|||
|Derivativefinancialassets|||
|Notesreceivable|||
|Accountreceivable|18,899,568.06|18,405,847.15|
|Financingofreceivables|||
|Prepayments|15,354,534.88|1,532,057.82|
|Otheraccountreceivable|64,704,913.38|9,323,782.66|
|Including：Interestreceivable|47,999,930.18|1,880,148.12|
|Dividendreceivable|10,589,003.82|1,205,472.90|
|Otherreceivable|6,115,979.38|6,238,161.64|
|Inventories|||
|Contractassets|||
|Assetsheldforsales|||
|Non-currentassetduewithin1year|100,000,000.00|100,000,000.00|
|Othercurrentasset|||
|Totalofcurrentassets|2,740,750,394.79|2,225,859,255.67|
|Non-currentassets：|||
|Debtinvestment|687,903,684.98||
|Availableforsaleoffinancialassets||1,668,791,594.53|
|Otherinvestmentonbonds|||
|Expiredinvestmentinpossess|||
|Long-termreceivable|||
|Longtermshareequityinvestment|4,842,215,151.74|4,679,309,978.88|
|Otherequityinstrumentsinvestment|1,725,252,781.09||
|Othernon-currentfinancialassets|||
|Propertyinvestment|3,134,641.74|3,326,869.29|

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|September30,2019|December31,2018|
|Fixedassets|5,579,284,393.38|5,292,898,635.00|
|Including：Fixedassets|5,579,284,393.38|5,292,898,635.00|
|Liquidationoffixedassets|||
|Constructioninprogress|917,225,296.18|1,060,230,773.10|
|Including： Constructioninprogress|917,225,296.18|1,060,230,773.10|
|Engineeringmaterial|||
|Productionphysicalassets|||
|Oil&gasassets|||
|Userightassets|||
|Intangibleassets|1,311,756.15|1,741,277.53|
|Developmentexpenses|||
|Goodwill|||
|Long-germexpensestobeamortized|||
|Deferredincometaxasset|382,463,329.68|447,328,530.77|
|Othernon-currentasset|97,761,670.41|790,720,727.48|
|Totalofnon-currentassets|14,236,552,705.35|13,944,348,386.58|
|Totalofassets|16,977,303,100.14|16,170,207,642.25|
|Currentliabilities|||
|Short-termloans|||
|Transactionalfinancialliabilities|||
|Financialliabilitiesmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount|||
|Derivativefinancialliabilities|||
|Notespayable|||
|Accountpayable|137,975,484.46|124,833,335.72|
|Advancereceipts|||
|ContractLiabilities|||
|Employees’wagepayable|5,291,187.31|5,669,203.37|
|Taxpayable|7,890,788.11|10,297,144.52|
|Otheraccountpayable|296,570,159.17|142,457,135.79|
|Including：Interestpayable|24,809,482.80|8,373,096.36|
|Dividendpayable|20,020,119.31|17,191,142.23|
|Otheraccountpayable|251,740,557.06|116,892,897.20|

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|September30,2019|December31,2018|
|Liabilitiesheldforsales|||
|Non-currentliabilityduewithin1year|628,685,000.00|2,327,180,000.00|
|Othercurrentliability|848,827,738.16|977,236,252.44|
|Totalofcurrentliability|1,925,240,357.21|3,587,673,071.84|
|Non-currentliabilities：|||
|Long-termloan|4,333,167,500.00|2,731,990,000.00|
|Bondpayable|678,013,637.73||
|Including：preferredstock|||
|Sustainabledebt|||
|Leaseliability|||
|Long-termpayable|39,625,983.68|38,022,210.11|
|Including：Long-termpayable|39,625,983.68|38,022,210.11|
|Specialpayable|||
|Long-termremunerationpayabletostaff|||
|Expectedliabilities|||
|Deferredincome|||
|Deferredincometaxliability|102,335,900.64|88,220,604.00|
|Othernon-currentliabilities|||
|Totalnon-currentliabilities|5,153,143,022.05|2,858,232,814.11|
|Totalofliability|7,078,383,379.26|6,445,905,885.95|
|Owners’equity|||
|Sharecapital|2,090,806,126.00|2,090,806,126.00|
|Otherequityinstruments|||
|Including：preferredstock|||
|Sustainabledebt|||
|Capitalreserves|2,974,458,696.93|2,948,663,196.93|
|Less：Sharesinstock|||
|Othercomprehensiveincome|299,870,466.92|245,109,114.81|
|Specialreserve|||
|Surplusreserves|759,558,277.70|759,558,277.70|
|Retainedprofit|3,774,226,153.33|3,680,165,040.86|
|Totalofowners’equity|9,898,919,720.88|9,724,301,756.30|

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|September30,2019|December31,2018|
|Totalofliabilitiesandowners’equity|16,977,303,100.14|16,170,207,642.25|

 LegalRepresentative:ZhengRenfa
GeneralManager:WangChunhua
Person-in-chargeoftheaccountingwork：FangZhi
Person-in-chargeoftheaccountingorgan：ZhouFang
3.ConsolidatedIncomestatementoftheReportperiod
In RMB
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|I.Turnover|796,831,081.45|850,769,743.92|
|Including:Operatingincome|796,831,081.45|850,769,743.92|
|Interestincome|||
|Insurancefeeearned|||
|Feeandcommissionreceived|||
|II.Totaloperatingcosts|408,683,513.05|376,040,471.71|
|Including ：Operatingcosts|310,517,119.58|283,488,989.77|
|Interestexpense|||
|Feeandcommissionpaid|||
|Insurancedischargepayment|||
|Netclaimamountpaid|||
|Appropriationofdepositforduty,net|||
|Insurancepolicydividendpaid|||
|Reinsuranceexpenses|||
|Businesstaxandsurcharge|3,696,459.38|3,887,775.99|
|Salesexpense|||
|Administrativeexpense|40,415,600.33|32,160,291.46|
|R&Dexpense||541,264.57|
|Financialexpenses|54,054,333.76|55,962,149.92|
|Including ：Interestexpense|58,646,545.15|59,606,588.17|
|Interestincome|5,500,733.79|4,644,969.74|
|Add：Otherincome|725,865.31|194,598.16|

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|Investmentgain（“-”forloss）|139,449,983.30|134,304,872.05|
|Including:investmentgainsfromaffiliates|139,066,452.38|134,304,872.05|
|Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome|||
|Gainsfromcurrencyexchange|||
|Netexposurehedgingincome|||
|Changingincomeoffairvalue|||
|Creditimpairmentloss|||
|Impairmentlossofassets||1,815,828.92|
|Assetsdisposalincome||21,509,712.51|
|III.Operatingprofit（“-”forloss）|528,323,417.01|632,554,283.85|
|Add ：Non-operatingincome|1,237,352.91|571,258.42|
|Less:Non-operatingexpenses|485,161.05|137,992.92|
|IV.Total profit(“-”forloss)|529,075,608.87|632,987,549.35|
|Less：Incometaxexpenses|98,800,338.73|123,881,985.59|
|V.Netprofit|430,275,270.14|509,105,563.76|
|(I)Classificationbybusinesscontinuity|||
|1.Netcontinuingoperatingprofit|430,275,270.14|509,105,563.76|
|2.Terminationofoperatingnetprofit|||
|(II)Classificationbyownership|||
|1.Net profit attributable to the ownersofparentcompany|371,244,455.76|441,303,002.76|
|2.Minorityshareholders’equity|59,030,814.38|67,802,561.00|
|VI.Netafter-taxofothercomprehensiveincome|24,758,918.08|42,627,645.56|
|Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany.|24,758,918.08|42,627,645.56|
|（I）Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod|22,937,357.04||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets|||
|2.Other comprehensive income under theequitymethodinvesteecannotbereclassifiedintoprofitorloss.|||
|3.Changesinthefairvalueofinvestmentsinotherequityinstruments|22,937,357.04||
|4.Changesinthefairvalueofthecompany’screditrisks|||
|5.Other|||
|（II）Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss.|1,821,561.04|42,627,645.56|
|1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss.|1,821,561.04|-1,482,656.44|
|2.Changesinthefairvalueofinvestmentsinotherdebtobligations|||
|3.Gainsandlossesfromchangesinfairvalueavailableforsalefinancialassets||44,110,302.00|
|4.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets|||
|5.Held-to-maturityinvestmentsreclassifiedtogainsandlossesofavailableforsalefinancialassets|||
|6.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations|||
|7.Reserveforcashflowhedges|||
|8.Translationdifferencesincurrencyfinancialstatements|||
|9.Other|||
|NetofprofitofothercomprehensiveincomeattributabletoMinority|||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|shareholders’equity|||
|VII.Totalcomprehensiveincome|455,034,188.22|551,733,209.32|
|Totalcomprehensiveincomeattributabletotheowneroftheparentcompany|396,003,373.84|483,930,648.32|
|Totalcomprehensiveincomeattributableminorityshareholders|59,030,814.38|67,802,561.00|
|VIII.Earningspershare|||
|（I）Basicearningspershare|0.18|0.21|
|(II)Dilutedearningspershare|0.18|0.21|

 Thecurrentbusinesscombinationundercommoncontrol,thenetprofitsofthecombinedpartybeforeachievedne tprofitofRMB0.00,lastperiodthecombinedpartyrealizedRMB0.00.
LegalRepresentative:ZhengRenfa
GeneralManager:WangChunhua
Person-in-chargeoftheaccountingwork：FangZhi
Person-in-chargeoftheaccountingorgan：ZhouFang
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 4.IncomestatementoftheParentCompanyoftheReportperiod
In RMB
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|I.Revenue|342,418,541.44|380,022,328.89|
|Including ：Operatingcosts|198,429,214.26|170,355,701.76|
|Businesstaxandsurcharge|2,004,169.87|2,323,857.60|
|Salesexpense|||
|Administrativeexpense|24,497,934.85|18,325,889.09|
|R&Dexpense|||
|Financialexpenses|49,775,101.80|51,345,142.50|
|Including：Interestexpenses|55,249,291.52|55,947,515.48|
|Interestincome|5,487,589.69|4,614,243.77|
|Add：Otherincome||194,598.16|
|Investmentgain（“-”forloss）|154,270,235.80|820,280,096.41|
|Including:investmentgainsfromaffiliates|139,066,452.38|134,304,872.05|
|Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome|||
|Netexposurehedgingincome|||
|Changingincomeoffairvalue|||
|Creditimpairmentloss|||
|Impairmentlossofassets||1,240,782.92|
|Assetsdisposalincome|||
|II.Operatingprofit（“-”forloss）|221,982,356.46|959,387,215.43|
|Add ：Non-operatingincome|953,148.06|182,721.87|
|Less：Non-operatingexpenses|357,431.46|184,874.00|
|III.Total profit(“-”forloss)|222,578,073.06|959,385,063.30|
|Less：Incometaxexpenses|20,782,022.44|34,466,045.99|
|IV.Netprofit|201,796,050.62|924,919,017.31|
|1.Netcontinuingoperatingprofit|201,796,050.62|924,919,017.31|
|2.Terminationofoperatingnetprofit|||
|V.Netafter-taxofothercomprehensiveincome|24,758,918.08|42,627,645.56|
|（I）Othercomprehensiveincome|22,937,357.04||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|itemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod|||
|1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets|||
|2.Other comprehensive income undertheequitymethodinvesteecannotbereclassifiedintoprofitorloss.|||
|3.Changesinthefairvalueofinvestmentsinotherequityinstruments|22,937,357.04||
|4.Changesinthefairvalueofthecompany’screditrisks|||
|5.Other|||
|（II）Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss.|1,821,561.04|42,627,645.56|
|1.Other comprehensive income undertheequitymethodinvesteecanbereclassifiedintoprofitorloss.|1,821,561.04|-1,482,656.44|
|2.Changesinthefairvalueofinvestmentsinotherdebtobligations|||
|3.Gainsandlossesfromchangesinfairvalueavailableforsalefinancialassets||44,110,302.00|
|4.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets|||
|5.Held-to-maturityinvestmentsreclassifiedtogainsandlossesofavailableforsalefinancialassets|||
|6.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations|||
|7.Reserveforcashflowhedges|||
|8.Translationdifferencesincurrencyfi|||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|nancialstatements|||
|9.Other|||
|VI.Totalcomprehensiveincome|226,554,968.70|967,546,662.87|
|VII.Earningspershare|||
|（I）Basicearningspershare|||
|(II)Dilutedearningspershare|||

LegalRepresentative:ZhengRenfa
GeneralManager:WangChunhua
Person-in-chargeoftheaccountingwork：FangZhi
Person-in-chargeoftheaccountingorgan：ZhouFang
5.ConsolidatedIncomestatementbetweenthebeginningoftheyearandendofthereportperiod
InRMB
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|I.Turnover|2,280,504,326.66|2,386,633,889.06|
|Including：Operatingincome|2,280,504,326.66|2,386,633,889.06|
|Interestincome|||
|Insurancefeeearned|||
|Commissionchargeandcommissionincome|||
|II.Totaloperatingcosts|1,145,369,320.38|1,105,005,002.49|
|Including：Operatingcosts|860,140,930.07|817,225,556.12|
|Interestexpense|||
|Feeandcommissionpaid|||
|Insurancedischargepayment|||
|Netclaimamountpaid|||
|Appropriationofdepositforduty,net|||
|Insurancepolicydividendpaid|||
|Reinsuranceexpenses|||
|Businesstaxandsurcharge|10,253,483.35|10,740,890.98|
|Salesexpense|||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|Administrativeexpense|117,390,810.80|105,269,752.40|
|R&Dexpense||3,026,437.60|
|Financialexpenses|157,584,096.16|168,742,365.39|
|Including：Interestexpense|173,687,402.86|185,358,874.77|
|Interestincome|21,262,441.48|22,721,206.04|
|Add：Otherincome|1,146,092.93|194,598.16|
|Investmentgain（“-”forloss）|415,691,849.62|393,663,174.25|
|Including:investmentgainsfromaffiliates|376,779,450.47|351,082,029.39|
|Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome|||
|Gainsfromcurrencyexchange|||
|Netexposurehedgingincome|||
|Changingincomeoffairvalue|||
|Creditimpairmentloss|||
|Impairmentlossofassets||1,873,719.27|
|Assetsdisposalincome|13,129,094.29|66,369,899.18|
|III.Operatingprofit（“-”forloss）|1,565,102,043.12|1,743,730,277.43|
|Add ：Non-operatingincome|1,972,712.67|3,258,819.00|
|Less:Non-operatingexpense|4,716,569.00|2,145,960.35|
|IV.Total profit(“-”forloss)|1,562,358,186.79|1,744,843,136.08|
|Less：Incometaxexpenses|288,497,112.78|337,103,704.44|
|V.Netprofit|1,273,861,074.01|1,407,739,431.64|
|(I)Classificationbybusinesscontinuity|||
|1.Netcontinuingoperatingprofit|1,273,861,074.01|1,407,739,431.64|
|2.Terminationofoperatingnetprofit|||
|(II)Classificationbyownership|||
|1.Net profit attributable to the ownersofparentcompany|1,107,730,568.06|1,220,305,249.74|
|2.Minorityshareholders’equity|166,130,505.95|187,434,181.90|
|VI.Netafter-taxofothercomprehensiveincome|43,697,001.82|-31,167,903.99|
||43,697,001.82|-31,167,903.99|

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany.|||
|（I）Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod|42,345,889.92||
|1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets|||
|2.Other comprehensive income under theequitymethodinvesteecannotbereclassifiedintoprofitorloss.|||
|3.Changesinthefairvalueofinvestmentsinotherequityinstruments|42,345,889.92||
|4.Changesinthefairvalueofthecompany’screditrisks|||
|5.Other|||
|（II）Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss.|1,351,111.90|-31,167,903.99|
|1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss.|1,351,111.90|-6,466,134.87|
|2.Changesinthefairvalueofinvestmentsinotherdebtobligations|||
|3.Gainsandlossesfromchangesinfairvalueavailableforsalefinancialassets||-24,701,769.12|
|4.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets|||
|5.Held-to-maturityinvestmentsreclassifiedtogainsandlossesofavailableforsalefinancialassets|||
|6.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations|||
|7.Reserveforcashflowhedges|||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|8.Translationdifferencesincurrencyfinancialstatements|||
|9.Other|||
|NetofprofitofothercomprehensiveincomeattributabletoMinorityshareholders’equity|||
|VII.Totalcomprehensiveincome|1,317,558,075.83|1,376,571,527.65|
|Totalcomprehensiveincomeattributabletotheowneroftheparentcompany|1,151,427,569.88|1,189,137,345.75|
|Totalcomprehensiveincomeattributableminorityshareholders|166,130,505.95|187,434,181.90|
|VIII.Earningspershare|||
|（I）Basicearningspershare|0.53|0.58|
|(II)Dilutedearningspershare|0.53|0.58|

 Thecurrentbusinesscombinationundercommoncontrol,thenetprofitsofthecombinedpartybeforeachievedne tprofitofRMB0.00,lastperiodthecombinedpartyrealizedRMB0.00.
LegalRepresentative:ZhengRenfa
GeneralManager:WangChunhua
Person-in-chargeoftheaccountingwork：FangZhi
Person-in-chargeoftheaccountingorgan：ZhouFang
6.IncomeStatementoftheParentBetweentheBeginningoftheYearandEndoftheReportPeriod InRMB
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|I.Revenue|965,545,058.79|1,055,916,596.63|
|Including ：Operatingcosts|527,619,888.78|480,666,389.08|
|Businesstaxandsurcharge|5,490,462.24|5,817,633.50|
|Salesexpense|||
|Administrativeexpense|71,493,995.49|60,558,892.12|
|R&Dexpense|||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|Financialexpenses|146,152,262.04|155,551,567.44|
|Including：Interestexpenses|164,808,705.82|174,813,943.23|
|Interestincome|21,139,717.95|22,420,977.88|
|Add：Otherincome|70,758.72|194,598.16|
|Investmentgain（“-”forloss）|1,129,929,737.50|1,700,859,665.12|
|Including:investmentgainsfromaffiliates|376,779,450.47|351,082,029.39|
|Financialassetsmeasuredatamortizedcostceasetoberecognizedasincome|||
|Netexposurehedgingincome|||
|Changingincomeoffairvalue|||
|Creditimpairmentloss|||
|Impairmentlossofassets||1,240,782.92|
|Assetsdisposalincome||138,427.18|
|II.Operatingprofit（“-”forloss）|1,344,788,946.46|2,055,755,587.87|
|Add ：Non-operatingincome|1,252,084.02|1,099,053.86|
|Less：Non-operatingexpenses|728,260.63|670,700.09|
|III.Total profit(“-”forloss)|1,345,312,769.85|2,056,183,941.64|
|Less：Incometaxexpenses|64,865,201.09|88,520,873.40|
|IV.Netprofit|1,280,447,568.76|1,967,663,068.24|
|1.Netcontinuingoperatingprofit|1,280,447,568.76|1,967,663,068.24|
|2.Terminationofoperatingnetprofit|||
|V.Netafter-taxofothercomprehensiveincome|43,697,001.82|-31,167,903.99|
|（I）Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod|42,345,889.92||
|1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets|||
|2.Other comprehensive income undertheequitymethodinvesteecannotbereclassifiedintoprofitorloss.|||
|3.Changesinthefairvalueof|42,345,889.92||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|investmentsinotherequityinstruments|||
|4.Changesinthefairvalueofthecompany’screditrisks|||
|5.Other|||
|（II）Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss.|1,351,111.90|-31,167,903.99|
|1.Other comprehensive income undertheequitymethodinvesteecanbereclassifiedintoprofitorloss.|1,351,111.90|-6,466,134.87|
|2.Changesinthefairvalueofinvestmentsinotherdebtobligations|||
|3.Gainsandlossesfromchangesinfairvalueavailableforsalefinancialassets||-24,701,769.12|
|4.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets|||
|5.Held-to-maturityinvestmentsreclassifiedtogainsandlossesofavailableforsalefinancialassets|||
|6.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations|||
|7.Reserveforcashflowhedges|||
|8.Translationdifferencesincurrencyfinancialstatements|||
|9.Other|||
|VI.Totalcomprehensiveincome|1,324,144,570.58|1,936,495,164.25|
|VII.Earningspershare|||
|（I）Basicearningspershare|||
|(II)Dilutedearningspershare|||

LegalRepresentative:ZhengRenfa
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 GeneralManager:WangChunhua
Person-in-chargeoftheaccountingwork：FangZhi
Person-in-chargeoftheaccountingorgan：ZhouFang
7.ConsolidatedCashFlowStatementBetweentheBeginningoftheYearandEndoftheReportPeriod In RMB
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|I.Cashflowsfromoperatingactivities|||
|Cashreceivedfromsalesofgoodsorrendingofservices|2,344,383,753.90|2,430,071,550.43|
|Netincreaseofcustomerdepositsandcapitalkeptforbrothercompany|||
|Netincreaseofloansfromcentralbank|||
|Netincreaseofinter-bankloansfromotherfinancialbodies|||
|Cashreceivedagainstoriginalinsurancecontract|||
|Netcashreceivedfromreinsurancebusiness|||
|Netincreaseofclientdepositandinvestment|||
|Cashreceivedfrominterest,commissionchargeandcommission|||
|Netincreaseofinter-bankfundreceived|||
|Netincreaseofrepurchasingbusiness|||
|Netcashreceivedbyagentinsecuritiestrading|||
|Taxreturned|||
|Othercashreceivedfrombusinessoperation|44,239,546.43|59,374,799.43|
|Sub-totalofcashinflow|2,388,623,300.33|2,489,446,349.86|
|Cashpaidforpurchasingofmerchandiseandservices|175,258,111.40|142,035,365.51|

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|Netincreaseofclienttradeandadvance|||
|Netincreaseofsavingsincentralbankandbrothercompany|||
|Cashpaidfororiginalcontractclaim|||
|NetincreaseforOutgoingcallloan|||
|Cashpaidforinterest,processingfeeandcommission|||
|Cashpaidforpolicydividend|||
|Cashpaidtostaffsorpaidforstaffs|216,220,155.68|200,483,302.33|
|Taxespaid|310,136,078.87|659,984,230.23|
|Othercashpaidforbusinessactivities|52,225,350.39|47,815,642.37|
|Sub-totalofcashoutflowfrombusinessactivities|753,839,696.34|1,050,318,540.44|
|Netcashgeneratedfrom/usedinoperatingactivities|1,634,783,603.99|1,439,127,809.42|
|II.Cashflowgeneratedbyinvesting|||
|Cashreceivedfrominvestmentretrieving|||
|Cashreceivedasinvestmentgains|270,260,694.55|246,194,475.70|
|Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets|13,963,900.00|228,183,292.51|
|Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits|||
|Otherinvestment-relatedcashreceived||575,046.00|
|Sub-totalofcashinflowduetoinvestmentactivities|284,224,594.55|474,952,814.21|
|Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets|587,874,379.29|509,914,271.20|
|Cashpaidasinvestment|||
|Netincreaseofloanagainstpledge|||
|Netcashreceivedfromsubsidiariesandotheroperationalunits|||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|Othercashpaidforinvestmentactivities|||
|Sub-totalofcashoutflowduetoinvestmentactivities|587,874,379.29|509,914,271.20|
|Netcashflowgeneratedbyinvestment|-303,649,784.74|-34,961,456.99|
|III.Cashflowgeneratedbyfinancing|||
|Cashreceivedasinvestment|||
|Including:Cashreceivedasinvestmentfromminorshareholders|||
|Cashreceivedasloans|3,756,700,000.00|1,259,000,000.00|
|Otherfinancing–relatedcashreceived|||
|Sub-totalofcashinflowfromfinancingactivities|3,756,700,000.00|1,259,000,000.00|
|Cashtorepaydebts|3,014,002,500.00|1,487,480,000.00|
|Cashpaidasdividend,profit,orinterests|1,587,922,592.34|1,482,717,100.16|
|Including:Dividendandprofitpaidbysubsidiariestominorshareholders|||
|Othercashpaidforfinancingactivities|791,384.00||
|Sub-totalofcashoutflowduetofinancingactivities|4,602,716,476.34|2,970,197,100.16|
|Netcashflowgeneratedbyfinancing|-846,016,476.34|-1,711,197,100.16|
|IV.Influenceofexchangeratealternationoncashandcashequivalents|-1,534,520.73|-2,267,884.63|
|V.Netincreaseofcashandcashequivalents|483,582,822.18|-309,298,632.36|
|Add:balanceofcashandcashequivalentsatthebeginningofterm|2,123,303,796.32|2,363,042,700.42|
|VI..Balanceofcashandcashequivalentsattheendofterm|2,606,886,618.50|2,053,744,068.06|

LegalRepresentative:ZhengRenfa
GeneralManager:WangChunhua
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019Person-in-chargeoftheaccountingwork：FangZhi
Person-in-chargeoftheaccountingorgan：ZhouFang
8.CashFlowStatementoftheParentBetweentheBeginningoftheYearandEndoftheReportPeriod In RMB
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|I.Cashflowsfromoperatingactivities|||
|Cash received fromsales of goodsorrendingofservices|991,093,953.83|1,028,479,493.61|
|Taxreturned|||
|Othercashreceivedfrombusinessoperation|40,435,161.13|347,679,931.37|
|Sub-totalofcashinflow|1,031,529,114.96|1,376,159,424.98|
|Cashpaidforpurchasingofmerchandiseandservices|56,811,641.02|59,667,495.43|
|Cashpaidtostaffsorpaidforstaffs|84,950,880.56|80,870,547.38|
|Taxespaid|36,317,795.45|38,553,095.96|
|Othercashpaidforbusinessactivities|170,450,166.76|363,020,990.09|
|Sub-totalofcashoutflowfrombusinessactivities|348,530,483.79|542,112,128.86|
|Netcashgeneratedfrom/usedinoperatingactivities|682,998,631.17|834,047,296.12|
|II.Cashflowgeneratedbyinvesting|||
|Cashreceivedfrominvestmentretrieving|5,000,000.00||
|Cashreceivedasinvestmentgains|941,023,466.69|877,415,742.21|
|Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets|4,900.00|296,095.00|
|Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits|||
|Otherinvestment-relatedcashreceived||650,750.00|
|Sub-totalofcashinflowduetoinvestmentactivities|946,028,366.69|878,362,587.21|
|Cashpaidforconstructionoffixed|548,481,380.34|495,317,031.90|

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|assets,intangibleassetsandotherlong-termassets|||
|Cashpaidasinvestment|||
|Netcashreceivedfromsubsidiariesandotheroperationalunits|||
|Othercashpaidforinvestmentactivities|||
|Sub-totalofcashoutflowduetoinvestmentactivities|548,481,380.34|495,317,031.90|
|Netcashflowgeneratedbyinvestment|397,546,986.35|383,045,555.31|
|III.Cashflowgeneratedbyfinancing|||
|Cashreceivedasinvestment|||
|Cashreceivedasloans|3,290,000,000.00|600,000,000.00|
|Otherfinancing–relatedashreceived||291,000,000.00|
|Sub-totalofcashinflowfromfinancingactivities|3,290,000,000.00|891,000,000.00|
|Cashtorepaydebts|2,572,317,500.00|614,100,000.00|
|Cashpaidasdividend,profit,orinterests|1,350,708,402.36|1,212,529,917.37|
|Othercashpaidforfinancingactivities|791,384.00|374,200,000.00|
|Sub-totalofcashoutflowduetofinancingactivities|3,923,817,286.36|2,200,829,917.37|
|Netcashflowgeneratedbyfinancing|-633,817,286.36|-1,309,829,917.37|
|IV.Influenceofexchangeratealternationoncashandcashequivalents|-1,534,520.73|-2,267,884.63|
|V.Netincreaseofcashandcashequivalents|445,193,810.43|-95,004,950.57|
|Add:balanceofcashandcashequivalentsatthebeginningofterm|2,095,376,368.04|2,130,475,892.67|
|VI..Balanceofcashandcashequivalentsattheendofterm|2,540,570,178.47|2,035,470,942.10|

LegalRepresentative:ZhengRenfa
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019 GeneralManager:WangChunhua
Person-in-chargeoftheaccountingwork：FangZhi
Person-in-chargeoftheaccountingorgan：ZhouFang
IIAdjustmentstotheFinancialStatements
1. Adjustment of the relevant items of the financial statements at the current year beginning according to the new standards for financial instruments, the new standards for revenues and the new standards for leaseimplementedcommencingfromyear2019
√Applicable□Notapplicable
Consolidatedbalancesheet
In RMB
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Amountinvolvedintheadjustment|
|Currentasset：||||
|Monetaryfund|2,124,524,996.32|2,124,524,996.32||
|Settlementprovision||||
|Outgoingcallloan||||
|Transactionalfinancialassets||||
|Financialassetsmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount||||
|Derivativefinancialassets||||
|Notesreceivable||||
|Accountreceivable|91,076,995.07|91,076,995.07||
|Financingofreceivables||||
|Prepayments|1,912,943.40|1,912,943.40||
|Insurancereceivable||||
|Reinsurancereceivable||||
|ProvisionsofReinsurancecontractsreceivable||||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Amountinvolvedintheadjustment|
|Otheraccountreceivable|16,487,256.02|16,487,256.02||
|Including：Interestreceivable||||
|Dividendreceivable|1,205,472.90|1,205,472.90||
|Otherreceivable|15,281,783.12|15,281,783.12||
|Repurchasing of financialassets||||
|Inventories|81,017.91|81,017.91||
|Contractassets||||
|Assetsheldforsales||||
|Non-current asset duewithin1year|51,745.32|51,745.32||
|Othercurrentasset||||
|Totalofcurrentassets|2,234,134,954.04|2,234,134,954.04||
|Non-currentassets：||||
|Loansandpaymentonother’sbehalfdisbursed||||
|Debtinvestment||||
|Available for sale offinancialassets|1,668,791,594.53||-1,668,791,594.53|
|Otherinvestmentonbonds||||
|Expired investment inpossess||||
|Long-termreceivable||||
|Longtermshareequityinvestment|3,145,644,970.07|3,145,355,906.88|-289,063.19|
|Otherequityinstrumentsinvestment||1,668,791,594.53|1,668,791,594.53|
|Othernon-currentfinancialassets||||
|Propertyinvestment|3,579,007.54|3,579,007.54||
|Fixedassets|7,600,046,319.91|7,600,046,319.91||
|Including：Fixedassets|7,600,046,319.91|7,600,046,319.91||
|Liquidationoffixedassets||||
|Constructionin|1,089,473,425.63|1,089,473,425.63||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Amountinvolvedintheadjustment|
|progress||||
|Including: Constructioninprogress|1,087,923,869.63|1,087,923,869.63||
|Engineeringmaterial|1,549,556.00|1,549,556.00||
|Productionphysicalassets||||
|Oil&gasassets||||
|Userightassets||||
|Intangibleassets|5,739,020.48|5,739,020.48||
|Developmentexpenses||||
|Goodwill||||
|Long-germ expenses to beamortized|1,221,781.88|1,221,781.88||
|Deferredincometaxasset|447,485,034.79|447,485,034.79||
|Othernon-currentasset|99,794,665.58|99,794,665.58||
|Totalofnon-currentassets|14,061,775,820.41|14,061,486,757.22|-289,063.19|
|Totalofassets|16,295,910,774.45|16,295,621,711.26|-289,063.19|
|Currentliabilities||||
|Short-termloans||||
|LoanfromCentralBank||||
|Borrowingfunds||||
|Transactionalfinancialliabilities||||
|Financialliabilitiesmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount||||
|Derivativefinancialliabilities||||
|Notespayable||||
|Accountpayable|203,779,190.74|203,779,190.74||
|Advancereceipts|12,039,708.01|12,039,708.01||
|Contractliabilities||||
|Sellingofrepurchasedfinancialassets||||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Amountinvolvedintheadjustment|
|Deposittakingandinterbankdeposit||||
|Entrustedtradingofsecurities||||
|Entrustedsellingofsecurities||||
|Employees’wagepayable|13,122,437.17|13,122,437.17||
|Taxpayable|104,198,746.06|104,198,746.06||
|Otheraccountpayable|191,254,464.84|191,254,464.84||
|Including：Interestpayable|8,971,576.57|8,971,576.57||
|Dividendpayable|17,191,142.23|17,191,142.23||
|Otherpayable|165,091,746.04|165,091,746.04||
|Feesandcommissionspayable||||
|Reinsurancefeepayable||||
|Liabilitiesheldforsales||||
|Non-currentliabilityduewithin1year|2,498,480,000.00|2,498,480,000.00||
|Othercurrentliability||||
|Totalofcurrentliability|3,022,874,546.82|3,022,874,546.82||
|Non-currentliabilities：||||
|Reservefundforinsurancecontracts||||
|Long-termloan|2,983,040,000.00|2,983,040,000.00||
|Bondpayable||||
|Including：preferredstock||||
|Sustainabledebt||||
|Leaseliability||||
|Long-termpayable|38,022,210.11|38,022,210.11||
|Including：Long-termpayable|38,022,210.11|38,022,210.11||
|Specialpayable||||
|Long-termremunerationpayabletostaff||||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Amountinvolvedintheadjustment|
|Expectedliabilities||||
|Deferredincome||||
|Deferredincometaxliability|205,672,389.59|205,672,389.59||
|Othernon-currentliabilities||||
|Totalnon-currentliabilities|3,226,734,599.70|3,226,734,599.70||
|Totalofliability|6,249,609,146.52|6,249,609,146.52||
|Owners’equity||||
|Sharecapital|2,090,806,126.00|2,090,806,126.00||
|Otherequityinstruments||||
|Including：preferredstock||||
|Sustainabledebt||||
|Capitalreserves|2,536,774,965.31|2,536,774,965.31||
|Less：Sharesinstock||||
|Othercomprehensiveincome|245,109,114.81|256,173,465.10|11,064,350.29|
|Specialreserve||||
|Surplusreserves|775,402,561.35|775,402,561.35||
|Commonriskprovision||||
|Retainedprofit|3,938,609,136.59|3,927,255,723.11|-11,353,413.48|
|Totalofowner’sequitybelongtotheparentcompany|9,586,701,904.06|9,586,412,840.87|-289,063.19|
|Minorityshareholders’equity|459,599,723.87|459,599,723.87||
|Totalofowners’equity|10,046,301,627.93|10,046,012,564.74|-289,063.19|
|Totalofliabilitiesandowners’equity|16,295,910,774.45|16,295,621,711.26|-289,063.19|

Adjustmentstatement
ParentCompanyBalanceSheet
InRMB
Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Amountinvolvedintheadjustment|
|Currentasset：||||
|Monetaryfund|2,096,597,568.04|2,096,597,568.04||
|Transactionalfinancialassets||||
|Financialassetsmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount||||
|Derivativefinancialassets||||
|Notesreceivable||||
|Accountreceivable|18,405,847.15|18,405,847.15||
|Financingofreceivables||||
|Prepayments|1,532,057.82|1,532,057.82||
|Otheraccountreceivable|9,323,782.66|9,323,782.66||
|Including：Interestreceivable|1,880,148.12|1,880,148.12||
|Dividendreceivable|1,205,472.90|1,205,472.90||
|Otherreceivable|6,238,161.64|6,238,161.64||
|Inventories||||
|Contractassets||||
|Assetsheldforsales||||
|Non-current asset duewithin1year|100,000,000.00|100,000,000.00||
|Othercurrentasset||||
|Totalofcurrentassets|2,225,859,255.67|2,225,859,255.67||
|Non-currentassets：||||
|Debtinvestment||692,903,684.98|692,903,684.98|
|Available for sale offinancialassets|1,668,791,594.53||-1,668,791,594.53|
|Otherinvestmentonbonds||||
|Expired investment inpossess||||
|Long-termreceivable||||
|Longtermshareequityinvestment|4,679,309,978.88|4,679,020,915.69|-289,063.19|

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Amountinvolvedintheadjustment|
|Otherequityinstrumentsinvestment||1,668,791,594.53|1,668,791,594.53|
|Othernon-currentfinancialassets||||
|Propertyinvestment|3,326,869.29|3,326,869.29||
|Fixedassets|5,292,898,635.00|5,292,898,635.00||
|Including：Fixedassets|5,292,898,635.00|5,292,898,635.00||
|Liquidationoffixedassets||||
|Constructioninprogress|1,060,230,773.10|1,060,230,773.10||
|Including:Constructioninprogress|1,060,230,773.10|1,060,230,773.10||
|Engineeringmaterial||||
|Productionphysicalassets||||
|Oil&gasassets||||
|Userightassets||||
|Intangibleassets|1,741,277.53|1,741,277.53||
|Developmentexpenses||||
|Goodwill||||
|Long-germ expenses tobeamortized||||
|Deferred income taxasset|447,328,530.77|447,328,530.77||
|Othernon-currentasset|790,720,727.48|97,817,042.50|-692,903,684.98|
|Totalofnon-currentassets|13,944,348,386.58|13,944,059,323.39|-289,063.19|
|Totalofassets|16,170,207,642.25|16,169,918,579.06|-289,063.19|
|Currentliabilities||||
|Short-termloans||||
|Transactionalfinancialliabilities||||
|Financialliabilitiesmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount||||
|Derivativefinancialliabilities||||
|Notespayable||||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Amountinvolvedintheadjustment|
|Accountpayable|124,833,335.72|124,833,335.72||
|Advancereceipts||||
|ContractLiabilities||||
|Employees’wagepayable|5,669,203.37|5,669,203.37||
|Taxpayable|10,297,144.52|10,297,144.52||
|Otheraccountpayable|142,457,135.79|142,457,135.79||
|Including：Interestpayable|8,373,096.36|8,373,096.36||
|Dividendpayable|17,191,142.23|17,191,142.23||
|Otherpayable|116,892,897.20|116,892,897.20||
|Liabilitiesheldforsales||||
|Non-currentliabilityduewithin1year|2,327,180,000.00|2,327,180,000.00||
|Othercurrentliability|977,236,252.44|977,236,252.44||
|Totalofcurrentliability|3,587,673,071.84|3,587,673,071.84||
|Non-currentliabilities：||||
|Long-termloan|2,731,990,000.00|2,731,990,000.00||
|Bondpayable||||
|Including：preferredstock||||
|Sustainabledebt||||
|Leaseliability||||
|Long-termpayable|38,022,210.11|38,022,210.11||
|Including：Long-termpayable|38,022,210.11|38,022,210.11||
|Specialpayable||||
|Long-termremunerationpayabletostaff||||
|Expectedliabilities||||
|Deferredincome||||
|Deferredincometaxliability|88,220,604.00|88,220,604.00||
|Othernon-currentliabilities||||
|Totalnon-currentliabilities|2,858,232,814.11|2,858,232,814.11||

Guangdong Provincial Expressway Development Co., Ltd. The Third Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Amountinvolvedintheadjustment|
|Totalofliability|6,445,905,885.95|6,445,905,885.95||
|Owners’equity||||
|Sharecapital|2,090,806,126.00|2,090,806,126.00||
|Otherequityinstruments||||
|Including：preferredstock||||
|Sustainabledebt||||
|Capitalreserves|2,948,663,196.93|2,948,663,196.93||
|Less：Sharesinstock||||
|Othercomprehensiveincome|245,109,114.81|256,173,465.10|11,064,350.29|
|Specialreserve||||
|Surplusreserves|759,558,277.70|759,558,277.70||
|Retainedprofit|3,680,165,040.86|3,668,811,627.38|-11,353,413.48|
|Totalofowners’equity|9,724,301,756.30|9,724,012,693.11|-289,063.19|
|Totalofliabilitiesandowners’equity|16,170,207,642.25|16,169,918,579.06|-289,063.19|

Adjustmentstatement
2. Note to the retroactive adjustment of the previous comparative data according to the new standards for financialinstrumentsandthenewstandardsforleaseimplementedcommencingfromyear2019
□Applicable√Notapplicable
III.Auditor’report
IstheThirdQuarterlyReportbeaudited?
□Yes√No
TheThirdQuarterlyreportisnotaudited.