Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019 Guangdong Provincial Expressway Development
Co.，Ltd.
The First Quarterly Report 2019
April 2019
Guangdong Provincial Expressway Development Co., Ltd. The First 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
|||||
|-|-|-|-|
||Thisperiod|Sameperiodoflastyear|Changesofthisperiodoversameperiodoflastyear（％）|
|Operatingrevenue（Yuan）|736,437,257.60|743,043,761.26|-0.89%|
|Netprofitattributabletotheshareholdersofthelistedcompany（Yuan）|354,064,646.18|341,598,430.84|3.65%|
|Netprofitafterdeductingofnon-recurringgain/lossattributabletotheshareholdersoflistedcompany（Yuan）|353,871,455.69|341,067,803.01|3.75%|
|Netcashgeneratedfrom/usedinoperatingactivities（Yuan）|518,337,607.13|332,977,529.61|55.67%|
|Basicearningpershare(Yuan/Share)|0.17|0.16|6.25%|
|Dilutedgainspershare(Yuan/Share)|0.17|0.16|6.25%|
|Weightedaveragereturnonequity（%）|3.61%|3.71%|-0.10%|

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
|||||
|-|-|-|-|
||Endofthisperiod|Endoflastperiod|Changesofthisperiod-endoversameperiod-endoflastyear(%)|
|Totalassets（Yuan）|17,264,308,203.57|16,295,910,774.45|5.94%|
|Netassetsattributabletotheshareholdersofthelistedcompany（Yuan）|10,026,134,135.15|9,586,701,904.06|4.58%|

Itemsandamountofnon-currentgainsandlosses
√Applicable□Notapplicable
InRMB
||||
|-|-|-|
|Items|Amount(Year-beginningtotheendofthereportperiod.)|Notes|
|Non-currentassetdisposalgain/loss(includingthewrite-offpartforwhichassetsimpairmentprovisionismade)|-54,181.47||
|Govemmentsubsidiesrecognizedincurrentgainandloss(excludingthosecloselyrelatedtotheCompany’sbusinessandgrantedunderthestate’spolicies)|115,533.91||
|Othernon-businessincomeandexpendituresotherthantheabove|195,938.56||
|Less:Influencedamountofincometax|44,768.97||
|Influencedamountofminorshareholders’equity(aftertax)|19,331.54||
|Total|193,190.49|--|

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,TotalPreferenceShareholderswiththeVotingPowerRecoveredandthe SharesHeldbyTopTenCommonShareholders
Inshares
|||||
|-|-|-|-|
|Totalnumberofcommonshareholdersattheperiod-end|57,566|Totalpreferenceshareholderswiththevotingpowerrecoveredattheendofthereportingperiod(ifany)|0|

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||||||
|-|-|-|-|-|-|-|
|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|466,325,020|||
|YadongFuxingYalianInvestmentCo.,Ltd.|Domestic nonState-ownedLegalperson|9.68%|202,429,149|202,429,149|Pledge|156,652,500|
|TibetYingyueInvestmentManagementCo.,Ltd.|State-ownedlegalperson|4.84%|101,214,574|101,214,574|||
|GuangdongExpresswayCo.,Ltd.|State-ownedlegalperson|2.53%|52,937,491|52,937,491|||
|GuangfaSecuritiesCo.,Ltd.|State-ownedlegalperson|1.45%|30,364,372|30,364,372|||
|AgriculturalBankofChina－JingshunGreatWallEnergyInfrastructureMixedSecuritiesInvestmentFund|Other|1.30%|27,166,803||||
|FengWuchu|Domesticnaturalpersonshares|1.07%|22,369,146||||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
|||||||
|-|-|-|-|-|-|
|XinyueCo.,Ltd.|Overseaslegalperson|0.63%|13,201,086|||
|PRUSIKUMBRELLAUCITSFUNDPLC|Overseaslegalperson|0.62%|12,999,871|||
|SharesheldbytheTop10ShareholdersofNon-restrictedshares||||||
|Shareholders’ Names||Numberofthenon-restrictedsharesheld||Sharetype||
|||||Sharetype|Quantity|
|GuangdongCommunicationGroupCo.,Ltd.||103,379,742||RMBCommonshares|103,379,742|
|AgriculturalBankofChina－JingshunGreatWallEnergyInfrastructureMixedSecuritiesInvestmentFund||27,166,803||RMBCommonshares|27,166,803|
|FengWuchu||22,369,146||RMBCommonshares|20,461,807|
|||||Foreignsharesplacedindomesticexchange|1,907,339|
|XinyueCo.,Ltd.||13,201,086||Foreignsharesplacedindomesticexchange|13,201,086|
|PRUSIKUMBRELLAUCITSFUNDPLC||12,999,871||Foreignsharesplacedindomesticexchange|12,999,871|
|VALUEPARTNERSHIGH-DIVIDENDSTOCKSFUNDS||12,291,518||Foreignsharesplacedindomesticexchange|12,291,518|
|KhazanahNasionalBerhad－Selffund||10,522,779||RMBCommonshares|10,522,779|
|HuataiSecuritiesCo.,Ltd.||10,065,914||RMBCommonshares|10,065,914|
|VALUEPARTNERSCLASSICFUND||9,971,395||Foreignsharesplacedindomestic|9,971,395|

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
|||||
|-|-|-|-|
|||exchange||
|MATTHEWSCHINADIVIDENDFUND|9,755,290|Foreignsharesplacedindomesticexchange|9,755,290|
|Explanationonassociatedrelationshiporconcertedactionoftheaboveshareholders|GuangdongCommunicationGroupCo.,Ltd.istheparentcompanyofGuangdongHighwayConstructionCo.,Ltd,GuangdongExpresswayCo.,Ltd.andXinyueCo.,Ltd..ItisunknownwhetherthereisrelationshipbetweenothershareholdersandwhethertheyarepersonstakingconcertedactionspecifiedintheRegulationsonDisclosureofInformationaboutChangeinShareholdingofShareholdersofListedCompanies.|||
|Participationoftop10unconditionalcommonshareshareholdersinsecuritiesmargintrading(ifany)|Nil|||

Whethertoptencommonshareholdersortoptencommonshareholderswithun-restrictsharesheldhavea 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 First Quarterly Report 2019 IIISignificant Events
I.Majorchangesofmainaccountingstatementitemsandfinancialindicatorsinthereportingperiod,aswellas reasonsforthechanges
√Applicable□Notapplicable
1.MonetarycapitalIncreasedbyRMB707.92millionand33.32%overthebeginningoftheyear,It’smainlydue tothecomprehensiveimpactofvariouscashflowactivities,inwhichthenetcashinflowfromoperatingactivities wasRMB518.34million,thenetcashoutflowfrominvestmentactivitieswasRMB213.01million,andthenet cashinflowfromfinancingactivitieswasRMB402.59million.
2.Constructioninprocess
Constructioninprogressprojectsincludeconstructioninprogressandengineeringmaterials.
ConstructioninprocessdecreasedbyRMB408.35millionand37.53%overthebeginningoftheyear,It’smainly duetothecomprehensiveimpactofprojectcostincurredintheexpansionprojectofSanbaotoShuikouSectionof FokaiExpresswayandtheexpansionprojectassetofSanbaotoGongheSectionofFokaiExpresswayconverted intofixedassets.
Thecapitalperiodoftheprojecthasnotchanged.
3.BondpayableincreasedbyRMB680million,A5-yearmedium-termnoteissuedforthecompany.
(II)Itemsofincomestatementascomparedwiththesameperiodofthepreviousyear
1.OperatingincomedecreasedbyRMB6.61millionand0.89%yearonyear,Mainlyduetothefollowingfactors: FoshanFirstRingRoadwasopentotraffic,anditdoesnotrestricttrucks,whichdivertspartofthetrafficflowof FokaiExpressway;HumenBridgerestrictsthepassageoftrucksover10tonsfromMarch8toApril2andtheZhuhaibranchline(S9919K0+945-K5+158)canceledthechargesfromDecember15th,2018therebyreduced theincomeofGuangzhudongtolls;duetothenaturalgrowthoftrafficvolume,therevenueofGuangfo
Expresswaytollincreased.
2.R&DexpensesdecreasedbyRMB1.32millionand100%yearonyear,MainlyduetothecompanydidnothaveR&Dexpendituresthisyear.
3.InvestmentgainsincreasedbyRMB16.84millionand16.35%,Themainreasonfortheincreasewasthatthe investmentincomeoftheshare-participatingcompaniesrecognizedbytheCompanyaccordingtothe
shareholdingratioincreasedYOY.
(III)Notesofmainitemsofcashflowstatement
1.Taxespaid
Mainlyduetocalculatetheincometax,value-addedtaxanditsadditionaltaxesandfeesactuallypaidinthecurrentperiod.ThecurrentperioddecreasedbyRMB177millionand68.26%yearonyear，Mainlyduetointhe sameperiodlastyear,GuangdongFokaiExpresswayCo.,Ltd(deregistered)paidtheassessedvalue-added incometax,andtherewasnosuchsituationinthecurrentperiod.
2.Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassetsincreasedbyRMB100.3millionand99.97%yearonyear,Mainlyduetointhesameperiodlastyear,JingzhuExpressway GuangzhuSectionCo.,Ltd.receivedthecompensationofRMB100millionforthe4.213kmexpresswayassetof theZhuhaisectionoftheGuang'aoExpresswaytransferredfromtheZhuhaiHigh-techZoneManagement Committee.andtherewasnosuchsituationinthecurrentperiod.
3.Cash paid for construction of fixed assets, intangible assets and other long-term assets increased by 110.47 million and61.01% year on year, Mainly due to the payment for the expansion and expansion of the
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019 Sanbao-ShuikousectionoftheFokaiExpresswaypaidbytheFokaiBranchwasincreased.
4.CashreceivedfromborrowingincreasedbyRMB996millionand240.58%yearonyear,Thereasonwasthat theparentcompany'sborrowingincreasedbyRMB1,255millioninthecurrentperiod,andtheJingzhu
ExpresswayGuangzhuSectionCo.,Ltd'sborrowinginthecurrentperioddecreasedbyRMB259millionYOY..5.CashtorepaydebtsincreasedbyRMB633.92millionand206.00%yearonyear,Thereasonwasthatthe parentcompany'srepaymentofborrowingsincreasedbyRMB906millioninthecurrentperiod.TheJingzhuExpresswayGuangzhuSectionCo.,Ltd’srepaymentforborrowingsdecreasedbyRMB223.35millioninthe currentperiod.GuangdongFokaiExpresswayCo.,Ltd(deregistered)repaidborrowingsofRMB48.73millionin thepreviousperiod.
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.
IV．PredictionofBusinessperformanceforJanuary-June2019
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss probably or the warning of its material change compared with the corresponding period of the last year and explanationofreason.
□Applicable√Notapplicable
V.Investmentinsecurities
□Applicable√Notapplicable
Non-existence
VI.Investmentinderivatives
□Applicable√Notapplicable
Non-existence
VII. Registration form of such Activities as Reception, Research, Communication, Interview in the ReportingPeriod
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019√Applicable□Notapplicable
|||||
|-|-|-|-|
|Receptiontime|Wayofreception|Typesofvisitors|Basicindex|
|January9,2019|Onsiteinvestigation|Organization|1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports|
|January16,2019|Onsiteinvestigation|Organization|1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports|
|March29,2019|Byphone|Organization|1.Themaincontentofresearch:1.thedailyoperation;2.thecompany'sfinancialdataanalysis;3.developmentstrategy;4.analysisontheindustry.2.Primarydatainvestigation:Publicinformationcompanyregularlyreports|

VIII.OutwardGuaranteeagainsttheRegulations
□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 First Quarterly Report 2019 IV.FinancialStatement
I.Financialstatement
1.Consolidatedbalancesheet
Preparedby：GuangdongProvincialExpresswayDevelopmentCo.,Ltd.
March31,2019
InRMB
||||
|-|-|-|
|Items|March31,2019|December31,2018|
|Currentasset：|||
|Monetaryfund|2,832,442,969.39|2,124,524,996.32|
|Settlementprovision|||
|Outgoingcallloan|||
|Transactionalfinancialassets|||
|Financialassetsmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount|||
|Derivativefinancialassets|||
|Notesreceivable&accountreceivable|105,447,913.94|91,076,995.07|
|Including：Notesreceivable|||
|Accountreceivable|105,447,913.94|91,076,995.07|
|Prepayments|1,283,038.94|1,912,943.40|
|Insurancereceivable|||
|Reinsurancereceivable|||
|ProvisionsofReinsurancecontractsreceivable|||
|Otheraccountreceivable|17,798,021.47|16,487,256.02|
|Including：Interestreceivable|||
|Dividendreceivable|1,205,472.90|1,205,472.90|
|Otheraccountreceivable|16,592,548.57|15,281,783.12|
|Repurchasingoffinancialassets|||
|Inventories|83,931.70|81,017.91|
|Contractassets|||
|Assetsheldforsales|||
|Non-currentassetduewithin1year|51,745.32|51,745.32|
|Othercurrentasset|||
|Totalofcurrentassets|2,957,107,620.76|2,234,134,954.04|
|Non-currentassets：|||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|March31,2019|December31,2018|
|Loansandpaymentonother’sbehalfdisbursed|||
|Debtinvestment|||
|Availableforsaleoffinancialassets||1,668,791,594.53|
|Otherinvestmentonbonds|||
|Expiredinvestmentinpossess|||
|Long-termreceivable|||
|Longtermshareequityinvestment|3,201,788,350.19|3,145,644,970.07|
|Otherequityinstrumentsinvestment|1,762,893,572.13||
|Othernon-currentfinancialassets|||
|Propertyinvestment|3,497,339.23|3,579,007.54|
|Fixedassets|8,118,342,992.18|7,600,046,319.91|
|Including ：Fixedassets|8,118,342,992.18|7,600,046,319.91|
|Liquidationoffixedassets|||
|Constructioninprogress|681,124,596.93|1,089,473,425.63|
|Including：Constructioninprogress|679,575,040.93|1,087,923,869.63|
|Engineeringmaterial|1,549,556.00|1,549,556.00|
|Productionphysicalassets|||
|Oil&gasassets|||
|Userightassets|||
|Intangibleassets|5,106,557.74|5,739,020.48|
|Developmentexpenses|||
|Goodwill|||
|Long-germexpensestobeamortized|1,221,781.88|1,221,781.88|
|Deferredincometaxasset|422,581,407.34|447,485,034.79|
|Othernon-currentasset|110,643,985.19|99,794,665.58|
|Totalofnon-currentassets|14,307,200,582.81|14,061,775,820.41|
|Totalofassets|17,264,308,203.57|16,295,910,774.45|
|Currentliabilities|||
|Short-termloans|||
|LoanfromCentralBank|||
|Borrowingfunds|||
|Transactionalfinancialliabilities|||
|Financialliabilitiesmeasuredatfairvaluewithvariations|||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|March31,2019|December31,2018|
|accountedintocurrentincomeaccount|||
|Derivativefinancialliabilities|||
|Notespayable&accountpayable|154,910,357.26|203,779,190.74|
|Including：Notespayable|||
|Accountpayable|154,910,357.26|203,779,190.74|
|Advancereceipts|12,375,610.28|12,039,708.01|
|Sellingofrepurchasedfinancialassets|||
|Deposittakingandinterbankdeposit|||
|Entrustedtradingofsecurities|||
|Entrustedsellingofsecurities|||
|Employees’ wagepayable|18,092,331.40|13,122,437.17|
|Taxpayable|118,882,217.49|104,198,746.06|
|Otheraccountpayable|207,567,174.26|191,254,464.84|
|Including：Interestpayable|11,339,664.52|8,971,576.57|
|Dividendpayable|17,127,446.76|17,191,142.23|
|Otheraccountpayable|179,100,062.98|165,091,746.04|
|Feesandcommissionspayable|||
|Reinsurancefeepayable|||
|ContractLiabilities|||
|Liabilitiesheldforsales|||
|Non-currentliabilityduewithin1year|1,967,555,000.00|2,498,480,000.00|
|Othercurrentliability|||
|Totalofcurrentliability|2,479,382,690.69|3,022,874,546.82|
|Non-currentliabilities：|||
|Reservefundforinsurancecontracts|||
|Long-termloan|3,302,315,000.00|2,983,040,000.00|
|Bondpayable|680,000,000.00||
|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|||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|March31,2019|December31,2018|
|Expectedliabilities|||
|Deferredincome|||
|Deferredincometaxliability|224,577,068.14|205,672,389.59|
|Othernon-currentliabilities|||
|Totalnon-currentliabilities|4,244,914,278.25|3,226,734,599.70|
|Totalofliability|6,724,296,968.94|6,249,609,146.52|
|Owners’ equity|||
|Sharecapital|2,090,806,126.00|2,090,806,126.00|
|Otherequityinstruments|||
|Including：preferredstock|||
|Sustainabledebt|||
|Capitalreserves|2,551,949,235.31|2,536,774,965.31|
|Less：Sharesinstock|||
|Othercomprehensiveincome|315,302,429.72|245,109,114.81|
|Surplusreserves|775,402,561.35|775,402,561.35|
|Commonriskprovision|||
|Retainedprofit|4,292,673,782.77|3,938,609,136.59|
|Totalofowner’sequitybelongtotheparentcompany|10,026,134,135.15|9,586,701,904.06|
|Minorityshareholders’ equity|513,877,099.48|459,599,723.87|
|Totalofowners’ equity|10,540,011,234.63|10,046,301,627.93|
|Totalofliabilitiesandowners’ equity|17,264,308,203.57|16,295,910,774.45|

 LegalRepresentative:ZhengRenfa
GeneralManager:WangChunhua
Personinchargeofaccounting：FangZhi
AccountingDeptLeader:ZhouFang
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019 2.ParentCompanyBalanceSheet
In RMB
||||
|-|-|-|
|Items|March31,2019|December31,2018|
|Currentasset：|||
|Monetaryfund|2,813,617,635.05|2,096,597,568.04|
|Transactionalfinancialassets|||
|Financialassetsmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount|||
|Derivativefinancialassets|||
|Notesreceivable&accountreceivable|18,536,318.28|18,405,847.15|
|Including：Notesreceivable|||
|Accountreceivable|18,536,318.28|18,405,847.15|
|Prepayments|996,386.44|1,532,057.82|
|Otheraccountreceivable|24,133,924.45|9,323,782.66|
|Including：Interestreceivable|17,087,212.26|1,880,148.12|
|Dividendreceivable|1,205,472.90|1,205,472.90|
|Otheraccountreceivable|5,841,239.29|6,238,161.64|
|Inventories|||
|Contractassets|||
|Assetsheldforsales|||
|Non-currentassetduewithin1year|100,000,000.00|100,000,000.00|
|Othercurrentasset|||
|Totalofcurrentassets|2,957,284,264.22|2,225,859,255.67|
|Non-currentassets：|||
|Debtinvestment|692,903,684.98||
|Availableforsaleoffinancialassets||1,668,791,594.53|
|Otherinvestmentonbonds|||
|Expiredinvestmentinpossess|||
|Long-termreceivable|||
|Longtermshareequityinvestment|4,735,453,359.00|4,679,309,978.88|
|Otherequityinstrumentsinvestment|1,762,893,572.13||
|Othernon-currentfinancialassets|||
|Propertyinvestment|3,245,200.98|3,326,869.29|
|Fixedassets|5,872,474,309.21|5,292,898,635.00|

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|March31,2019|December31,2018|
|Including ：Fixedassets|5,872,474,309.21|5,292,898,635.00|
|Liquidationoffixedassets|||
|Constructioninprogress|640,868,926.90|1,060,230,773.10|
|Including： Constructioninprogress|640,868,926.90|1,060,230,773.10|
|Engineeringmaterial|||
|Productionphysicalassets|||
|Oil&gasassets|||
|Userightassets|||
|Intangibleassets|1,597,159.29|1,741,277.53|
|Developmentexpenses|||
|Goodwill|||
|Long-germexpensestobeamortized|||
|Deferredincometaxasset|422,441,216.87|447,328,530.77|
|Othernon-currentasset|110,016,836.44|790,720,727.48|
|Totalofnon-currentassets|14,241,894,265.80|13,944,348,386.58|
|Totalofassets|17,199,178,530.02|16,170,207,642.25|
|Currentliabilities|||
|Short-termloans|||
|Transactionalfinancialliabilities|||
|Financialliabilitiesmeasuredatfairvaluewithvariationsaccountedintocurrentincomeaccount|||
|Derivativefinancialliabilities|||
|Notespayable&accountpayable|116,980,362.46|124,833,335.72|
|Including：Notespayable|||
|Accountpayable|116,980,362.46|124,833,335.72|
|Advancereceipts|||
|ContractLiabilities|||
|Employees’ wagepayable|5,454,825.93|5,669,203.37|
|Taxpayable|5,856,745.80|10,297,144.52|
|Otheraccountpayable|165,929,517.48|142,457,135.79|
|Including：Interestpayable|10,792,926.60|8,373,096.36|
|Dividendpayable|17,127,446.76|17,191,142.23|
|Otheraccountpayable|138,009,144.12|116,892,897.20|

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|March31,2019|December31,2018|
|Liabilitiesheldforsales|||
|Non-currentliabilityduewithin1year|1,796,255,000.00|2,327,180,000.00|
|Othercurrentliability|1,187,835,865.71|977,236,252.44|
|Totalofcurrentliability|3,278,312,317.38|3,587,673,071.84|
|Non-currentliabilities：|||
|Long-termloan|3,086,915,000.00|2,731,990,000.00|
|Bondpayable|680,000,000.00||
|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|||
|Expectedliabilities|||
|Deferredincome|||
|Deferredincometaxliability|111,746,098.40|88,220,604.00|
|Othernon-currentliabilities|||
|Totalnon-currentliabilities|3,916,683,308.51|2,858,232,814.11|
|Totalofliability|7,194,995,625.89|6,445,905,885.95|
|Owners’ equity|||
|Sharecapital|2,090,806,126.00|2,090,806,126.00|
|Otherequityinstruments|||
|Including：preferredstock|||
|Sustainabledebt|||
|Capitalreserves|2,963,837,466.93|2,948,663,196.93|
|Less：Sharesinstock|||
|Othercomprehensiveincome|315,302,429.72|245,109,114.81|
|Surplusreserves|759,558,277.70|759,558,277.70|
|Retainedprofit|3,874,678,603.78|3,680,165,040.86|
|Totalofowners’ equity|10,004,182,904.13|9,724,301,756.30|
|Totalofliabilitiesandowners’ equity|17,199,178,530.02|16,170,207,642.25|

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019 3.ConsolidatedIncomestatement
In RMB
||||
|-|-|-|
|Items|Reportperiod|Sameperiodofthepreviousyear|
|I.Incomefromthekeybusiness|736,437,257.60|743,043,761.26|
|Including：Businessincome|736,437,257.60|743,043,761.26|
|Interestincome|||
|Insurancefeeearned|||
|Feeandcommissionreceived|||
|II.Totalbusinesscost|352,232,513.86|349,373,491.44|
|Including：Businesscost|257,839,452.31|253,181,541.86|
|Interestexpense|||
|Feeandcommissionpaid|||
|Insurancedischargepayment|||
|Netclaimamountpaid|||
|Netamountofwithdrawalofinsurancecontractreserve|||
|Insurancepolicydividendpaid|||
|Reinsuranceexpenses|||
|Businesstaxandsurcharge|3,168,467.28|3,134,608.21|
|Salesexpense|||
|Administrativeexpense|36,707,007.01|34,583,248.16|
|R&Dcosts||1,318,344.01|
|Financialexpenses|54,517,587.26|57,155,749.20|
|Including：Interestexpense|58,652,879.99|63,343,856.83|
|Interestincome|5,041,225.60|7,183,114.61|
|Assetimpairmentloss|||
|Creditimpairmentloss|||
|Add：Otherincome|115,533.91||
|Investmentgain（“-”forloss）|119,851,621.21|103,011,034.29|
|Including:investmentgainsfromaffiliates|119,198,798.96|103,011,034.29|
|Gainsfromcurrencyexchange|||
|Netexposurehedgingincome|||
|Changingincomeoffairvalue|||
|Incomeondisposalofassets|||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|Reportperiod|Sameperiodofthepreviousyear|
|III.Operationalprofit（“-”forloss）|504,171,898.86|496,681,304.11|
|Add ：Non-operationalincome|332,608.56|924,878.79|
|Including:Profitsfromdisposalofnon-currentassets||92,737.24|
|Less:Non-operatingexpense|190,851.47|277,993.40|
|Including：Lossondisposalofnon-currentassets|54,181.47|249,184.79|
|IV.Total profit(“-”forloss)|504,313,655.95|497,328,189.50|
|Less：Incometaxexpenses|95,971,634.16|102,250,360.83|
|V.Netprofit|408,342,021.79|395,077,828.67|
|(I)Classificationbybusinesscontinuity|||
|1.Netcontinuingoperatingprofit|408,342,021.79|395,077,828.67|
|2.Terminationofoperatingnetprofit|||
|(II)Classificationbyownership|||
|Netprofitattributabletotheownersofparentcompany|354,064,646.18|341,598,430.84|
|Minorityshareholders’equity|54,277,375.61|53,479,397.83|
|VI.Netafter-taxofothercomprehensiveincome|70,193,314.91|313,345.79|
|Netofprofitofothercomprehensiveincomeattributabletoownersoftheparentcompany.|70,193,314.91|313,345.79|
|（I）Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod|70,576,483.20||
|1.Re-measurementofdefinedbenefitplansofchangesinnetdebtornetassets|||
|2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss.|||
|3.Changesinthefairvalueofinvestmentsinotherequityinstruments|70,576,483.20||
|4.Changesinthefairvalueofthecompany’screditrisks|||
|5.Other|||
|（II）Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss.|-383,168.29|313,345.79|
|1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss.|-383,168.29|-4,979,890.45|
|2.Changesinthefairvalueofinvestmentsinotherdebtobligations|||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|Reportperiod|Sameperiodofthepreviousyear|
|3.Gainsandlossesfromchangesinfairvalueavailableforsalefinancialassets||5,293,236.24|
|4.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets|||
|5.Held-to-maturityinvestmentsreclassifiedtogainsandlossesofavailableforsalefinancialassets|||
|6.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations|||
|7.Reserveforcashflowhedges|||
|8.Translationdifferencesincurrencyfinancialstatements|||
|9.Other|||
|NetofprofitofothercomprehensiveincomeattributabletoMinorityshareholders’equity|||
|VII.Totalcomprehensiveincome|478,535,336.70|395,391,174.46|
|Totalcomprehensiveincomeattributabletotheowneroftheparentcompany|424,257,961.09|341,911,776.63|
|Totalcomprehensiveincomeattributableminorityshareholders|54,277,375.61|53,479,397.83|
|VIII.Earningspershare|||
|（I）Basicearningspershare|0.17|0.16|
|(II)Dilutedearningspershare|0.17|0.16|

 Thecurrentbusinesscombinationundercommoncontrol,thenetprofitsofthecombinedpartybeforeachievedne tprofitofRMB0.00,lastperiodthecombinedpartyrealizedRMB0.00.
LegalRepresentative:ZhengRenfa
GeneralManager:WangChunhua
Personinchargeofaccounting：FangZhi
AccountingDeptLeader:ZhouFang
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019 4.IncomestatementoftheParentCompany
In RMB
||||
|-|-|-|
|Items|Reportperiod|Sameperiodofthepreviousyear|
|I.Revenue|324,156,876.46|328,850,035.97|
|Including：Businesscost|151,217,612.97|145,321,328.49|
|Businesstaxandsurcharge|1,724,079.25|1,715,552.23|
|Salesexpense|||
|Administrativeexpense|20,909,420.29|18,510,954.70|
|R&Dcosts|||
|Financialexpenses|50,832,482.65|52,730,252.46|
|Including：Interestexpenses|55,840,761.99|58,496,606.84|
|Interestincome|5,026,938.55|5,785,118.92|
|Assetimpairmentloss|||
|Creditimpairmentloss|||
|Add：Otherincome|||
|Investmentgain（“-”forloss）|119,851,621.21|135,011,034.29|
|Including:investmentgainsfromaffiliates|119,198,798.96|103,011,034.29|
|Netexposurehedgingincome|||
|Changingincomeoffairvalue|||
|Incomeondisposalofassets|||
|II.Operationalprofit（“-”forloss）|219,324,902.51|245,582,982.38|
|Add ：Non-operationalincome|111,869.48|583,307.92|
|Less：Non-operationalexpenses|35,895.17|251,804.79|
|Including：Lossondisposalofnon-currentassets|35,895.17|249,184.79|
|III.Total profit(“-”forloss)|219,400,876.82|245,914,485.51|
|Less：Incometaxexpenses|24,887,313.90|30,852,242.18|
|IV.Netprofit|194,513,562.92|215,062,243.33|
|1.Netcontinuingoperatingprofit|194,513,562.92|215,062,243.33|
|2.Terminationofoperatingnetprofit|||
|V.Netafter-taxofothercomprehensiveincome|70,193,314.91|313,345.79|
|（I）Othercomprehensiveincomeitemsthatwillnotbereclassifiedintogains/lossesinthesubsequentaccountingperiod|70,576,483.20|0.00|
|1.Re-measurementofdefinedbenefitplansofchangesinnetdebt|||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|Reportperiod|Sameperiodofthepreviousyear|
|ornetassets|||
|2.Othercomprehensiveincomeundertheequitymethodinvesteecannotbereclassifiedintoprofitorloss.|||
|3.Changesinthefairvalueofinvestmentsinotherequityinstruments|70,576,483.20||
|4.Changesinthefairvalueofthecompany’screditrisks|||
|5.Other|||
|（II）Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss.|-383,168.29|313,345.79|
|1.Othercomprehensiveincomeundertheequitymethodinvesteecanbereclassifiedintoprofitorloss.|-383,168.29|-4,979,890.45|
|2.Changesinthefairvalueofinvestmentsinotherdebtobligations|||
|3.Gainsandlossesfromchangesinfairvalueavailableforsalefinancialassets||5,293,236.24|
|4.Othercomprehensiveincomearisingfromthereclassificationoffinancialassets|||
|5.Held-to-maturityinvestmentsreclassifiedtogainsandlossesofavailableforsalefinancialassets|||
|6.Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations|||
|7.Reserveforcashflowhedges|||
|8.Translationdifferencesincurrencyfinancialstatements|||
|9.Other|||
|VI.Totalcomprehensiveincome|264,706,877.83|215,375,589.12|
|VII.Earningspershare|||
|（I）Basicearningspershare|||
|(II)Dilutedearningspershare|||

5. Consolidated Cash flowstatement
In RMB
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|Reportperiod|Sameperiodofthepreviousyear|
|I.Cashflowsfromoperatingactivities|||
|Cashreceivedfromsalesofgoodsorrendingofservices|738,658,072.58|734,954,247.26|
|Netincreaseofcustomerdepositsandcapitalkeptforbrothercompany|||
|Netincreaseofloansfromcentralbank|||
|Netincreaseofinter-bankloansfromotherfinancialbodies|||
|Cashreceivedagainstoriginalinsurancecontract|||
|Netcashreceivedfromreinsurancebusiness|||
|Netincreaseofclientdepositandinvestment|||
|Netincreaseofamountfromdisposalfinancialassetsthatmeasuredbyfairvalueandwithvariationreckonedintocurrentgains/losses|||
|Cashreceivedfrominterest,commissionchargeandcommission|||
|Netincreaseofinter-bankfundreceived|||
|Netincreaseofrepurchasingbusiness|||
|Netcashreceivedbyagentinsecuritiestrading|||
|Taxreturned|||
|Othercashreceivedfrombusinessoperation|8,177,214.62|8,628,131.32|
|Sub-totalofcashinflow|746,835,287.20|743,582,378.58|
|Cashpaidforpurchasingofmerchandiseandservices|52,141,942.34|65,925,589.00|
|Netincreaseofclienttradeandadvance|||
|Netincreaseofsavingsincentralbankandbrothercompany|||
|Cashpaidfororiginalcontractclaim|||
|Netincreaseinfinancialassetsheldfortradingpurposes|||
|NetincreaseforOutgoingcallloan|||
|Cashpaidforinterest,processingfeeandcommission|||
|Cashpaidforpolicydividend|||
|Cashpaidtostaffsorpaidforstaffs|73,711,658.04|74,728,511.17|
|Taxespaid|82,310,582.56|259,308,133.22|
|Othercashpaidforbusinessactivities|20,333,497.13|10,642,615.58|
|Sub-totalofcashoutflowfrombusinessactivities|228,497,680.07|410,604,848.97|
|Netcashgeneratedfrom/usedinoperatingactivities|518,337,607.13|332,977,529.61|
|II.Cashflowgeneratedbyinvesting|||
|Cashreceivedfrominvestmentretrieving|||
|Cashreceivedasinvestmentgains|78,499,342.80|80,894,706.68|

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|Reportperiod|Sameperiodofthepreviousyear|
|Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets|31,580.00|100,329,850.00|
|Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits|||
|Otherinvestment-relatedcashreceived|||
|Sub-totalofcashinflowduetoinvestmentactivities|78,530,922.80|181,224,556.68|
|Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets|291,544,023.52|181,076,036.11|
|Cashpaidasinvestment|||
|Netincreaseofloanagainstpledge|||
|Netcashreceivedfromsubsidiariesandotheroperationalunits|||
|Othercashpaidforinvestmentactivities|||
|Sub-totalofcashoutflowduetoinvestmentactivities|291,544,023.52|181,076,036.11|
|Netcashflowgeneratedbyinvestment|-213,013,100.72|148,520.57|
|III.Cashflowgeneratedbyfinancing|||
|Cashreceivedasinvestment|||
|Including:Cashreceivedasinvestmentfromminorshareholders|||
|Cashreceivedasloans|1,410,000,000.00|414,000,000.00|
|Cashreceivedfrombondplacing|||
|Otherfinancing –relatedcashreceived|||
|Sub-totalofcashinflowfromfinancingactivities|1,410,000,000.00|414,000,000.00|
|Cashtorepaydebts|941,650,000.00|307,730,000.00|
|Cashpaidasdividend,profit,orinterests|64,965,149.34|81,854,963.82|
|Including:Dividendandprofitpaidbysubsidiariestominorshareholders|||
|Othercashpaidforfinancingactivities|791,384.00||
|Sub-totalofcashoutflowduetofinancingactivities|1,007,406,533.34|389,584,963.82|
|Netcashflowgeneratedbyfinancing|402,593,466.66|24,415,036.18|
|IV.Influenceofexchangeratealternationoncashandcashequivalents|||
|V.Netincreaseofcashandcashequivalents|707,917,973.07|357,541,086.36|
|Add:balanceofcashandcashequivalentsatthebeginningofterm|2,123,303,796.32|2,363,042,700.42|
|VI..Balanceofcashandcashequivalentsattheendofterm|2,831,221,769.39|2,720,583,786.78|

6.CashFlowStatementoftheParentCompany
In RMB
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|I.Cashflowsfromoperatingactivities|||
|Cashreceivedfromsalesofgoodsorrendingofservices|317,930,569.57|308,153,039.83|
|Taxreturned|||
|Othercashreceivedfrombusinessoperation|227,481,382.77|313,698,619.62|
|Sub-totalofcashinflow|545,411,952.34|621,851,659.45|
|Cashpaidforpurchasingofmerchandiseandservices|6,738,037.43|29,554,946.50|
|Cashpaidtostaffsorpaidforstaffs|27,527,028.50|30,305,685.91|
|Taxespaid|13,682,757.81|14,917,622.11|
|Othercashpaidforbusinessactivities|25,373,283.31|156,019,307.99|
|Sub-totalofcashoutflowfrombusinessactivities|73,321,107.05|230,797,562.51|
|Netcashgeneratedfrom/usedinoperatingactivities|472,090,845.29|391,054,096.94|
|II.Cashflowgeneratedbyinvesting|||
|Cashreceivedfrominvestmentretrieving|||
|Cashreceivedasinvestmentgains|78,499,342.80|122,894,706.68|
|Netcashretrievedfromdisposaloffixedassets,intangibleassets,andotherlong-termassets|3,700.00|16,250.00|
|Netcashreceivedfromdisposalofsubsidiariesorotheroperationalunits|||
|Otherinvestment-relatedcashreceived|213,750.00|213,750.00|
|Sub-totalofcashinflowduetoinvestmentactivities|78,716,792.80|123,124,706.68|
|Cashpaidforconstructionoffixedassets,intangibleassetsandotherlong-termassets|276,927,693.99|170,844,583.14|
|Cashpaidasinvestment|||
|Netcashreceivedfromsubsidiariesandotheroperationalunits|||
|Othercashpaidforinvestmentactivities|||
|Sub-totalofcashoutflow duetoinvestmentactivities|276,927,693.99|170,844,583.14|
|Netcashflowgeneratedbyinvestment|-198,210,901.19|-47,719,876.46|
|III.Cashflowgeneratedbyfinancing|||
|Cashreceivedasinvestment|||
|Cashreceivedasloans|1,410,000,000.00|155,000,000.00|
|Cashreceivedfrombondplacing|||
|Otherfinancing –relatedashreceived||150,000,000.00|
|Sub-totalofcashinflowfromfinancingactivities|1,410,000,000.00|305,000,000.00|
|Cashtorepaydebts|906,000,000.00||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
||||
|-|-|-|
|Items|Amountinthisperiod|Amountinlastperiod|
|Cashpaidasdividend,profit,orinterests|60,068,493.09|40,196,530.42|
|Othercashpaidforfinancingactivities|791,384.00|73,200,000.00|
|Sub-totalofcashoutflowduetofinancingactivities|966,859,877.09|113,396,530.42|
|Netcashflowgeneratedbyfinancing|443,140,122.91|191,603,469.58|
|IV.Influenceofexchangeratealternationoncashandcashequivalents|||
|V.Netincreaseofcashandcashequivalents|717,020,067.01|534,937,690.06|
|Add:balanceofcashandcashequivalentsatthebeginningofterm|2,095,376,368.04|2,130,475,892.67|
|VI..Balanceofcashandcashequivalentsattheendofterm|2,812,396,435.05|2,665,413,582.73|

 IIAdjustmentstotheFinancialStatements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of any New StandardsGoverningFinancialInstruments,RevenueorLeases
√Applicable□Notapplicable
Consolidatedbalancesheet
In RMB
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Adjustment|
|Currentasset：||||
|Monetaryfund|2,124,524,996.32|2,124,524,996.32||
|Notesreceivable&accountreceivable|91,076,995.07|91,076,995.07||
|Accountreceivable|91,076,995.07|91,076,995.07||
|Prepayments|1,912,943.40|1,912,943.40||
|Otheraccountreceivable|16,487,256.02|16,487,256.02||
|Dividendreceivable|1,205,472.90|1,205,472.90||
|Otheraccountreceivable|15,281,783.12|15,281,783.12||
|Inventories|81,017.91|81,017.91||
|Non-currentassetduewithin1year|51,745.32|51,745.32||
|Totalofcurrentassets|2,234,134,954.04|2,234,134,954.04||
|Non-currentassets：||||
|Available-for-salefinancialassets|1,668,791,594.53|Notapplicable||
|Longtermshareequityinvestment|3,145,644,970.07|3,145,644,970.07||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Adjustment|
|Otherequityinstrumentsinvestment|Notapplicable|1,668,791,594.53||
|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||||
|Constructioninprogress|1,089,473,425.63|1,089,473,425.63||
|Including: Constructioninprogress|1,087,923,869.63|1,087,923,869.63||
|Engineeringmaterial|1,549,556.00|1,549,556.00||
|Intangibleassets|5,739,020.48|5,739,020.48||
|Long-germexpensestobeamortized|1,221,781.88|1,221,781.88||
|Deferredtaxassets|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|14,061,775,820.41||
|Totalofassets|16,295,910,774.45|16,295,910,774.45||
|Currentliabilities||||
|Notespayable&accountpayable|203,779,190.74|203,779,190.74||
|Including:Notespayable||||
|Accountpayable|203,779,190.74|203,779,190.74||
|Advancepayment|12,039,708.01|12,039,708.01||
|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||
|Otheraccountpayable|165,091,746.04|165,091,746.04||
|Non-currentliabilityduewithin1year|2,498,480,000.00|2,498,480,000.00||
|Totalofcurrentliability|3,022,874,546.82|3,022,874,546.82||
|Non-currentliabilities：||||
|Long-termloan|2,983,040,000.00|2,983,040,000.00||
|Long-termpayable|38,022,210.11|38,022,210.11||
|Including:Long-termpayable|38,022,210.11|38,022,210.11||
|Specialpayable||||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Adjustment|
|Deferredincometaxliability|205,672,389.59|205,672,389.59||
|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||
|Capitalreserves|2,536,774,965.31|2,536,774,965.31||
|Othercomprehensiveincome|245,109,114.81|245,109,114.81||
|Surplusreserves|775,402,561.35|775,402,561.35||
|Retainedprofit|3,938,609,136.59|3,938,609,136.59||
|Totalofowner’sequitybelongtotheparentcompany|9,586,701,904.06|9,586,701,904.06||
|Minorityshareholders’ equity|459,599,723.87|459,599,723.87||
|Totalofowners’ equity|10,046,301,627.93|10,046,301,627.93||
|Totalofliabilitiesandowners’equity|16,295,910,774.45|16,295,910,774.45||

Adjustmentstatement
AccordingtotheNo.22AccountingStandardsforBusinessEnterprises,theCompanydesignatestheformer “availablefinancialassetsforsale”as“financialassetsmeasuredatfairvalueandwhosechangesareincludedin othercomprehensiveincome”.
ParentCompanyBalanceSheet
InRMB
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Adjustment|
|Currentasset：||||
|Monetaryfund|2,096,597,568.04|2,096,597,568.04||
|Notesreceivable&accountreceivable|18,405,847.15|18,405,847.15||
|Accountreceivable|18,405,847.15|18,405,847.15||
|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||
|Otheraccountreceivable|6,238,161.64|6,238,161.64||
|Non-currentassetduewithin1year|100,000,000.00|100,000,000.00||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Adjustment|
|Totalofcurrentassets|2,225,859,255.67|2,225,859,255.67||
|Non-currentassets：||||
|Debtinvestment|Notapplicable|692,903,684.98||
|Available-for-salefinancialassets|1,668,791,594.53|Notapplicable||
|Longtermshareequityinvestment|4,679,309,978.88|4,679,309,978.88||
|Otherequityinstrumentsinvestment|Notapplicable|1,668,791,594.53||
|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||||
|Intangibleassets|1,741,277.53|1,741,277.53||
|Deferredtaxassets|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|13,944,348,386.58||
|Totalofassets|16,170,207,642.25|16,170,207,642.25||
|Currentliabilities||||
|Notespayable&Accountpayable|124,833,335.72|124,833,335.72||
|Including:Notespayable||||
|Accountpayable|124,833,335.72|124,833,335.72||
|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||
|Otheraccountpayable|116,892,897.20|116,892,897.20||
|Non-currentliabilityduewithin1year|2,327,180,000.00|2,327,180,000.00||

Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2019
|||||
|-|-|-|-|
|Items|December31,2018|January1,2019|Adjustment|
|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||
|Long-termpayable|38,022,210.11|38,022,210.11||
|Including: Long-termpayable|38,022,210.11|38,022,210.11||
|Specialpayable||||
|Deferredincometaxliability|88,220,604.00|88,220,604.00||
|TotalofNon-currentliabilities|2,858,232,814.11|2,858,232,814.11||
|Totalofliability|6,445,905,885.95|6,445,905,885.95||
|Owners’ equity||||
|Sharecapital|2,090,806,126.00|2,090,806,126.00||
|Capitalreserves|2,948,663,196.93|2,948,663,196.93||
|Othercomprehensiveincome|245,109,114.81|245,109,114.81||
|Surplusreserves|759,558,277.70|759,558,277.70||
|Retainedprofit|3,680,165,040.86|3,680,165,040.86||
|Totalofowners’ equity|9,724,301,756.30|9,724,301,756.30||
|Totalofliabilitiesandowners’equity|16,170,207,642.25|16,170,207,642.25||

Adjustmentstatement
AccordingtotheNo.22AccountingStandardsforBusinessEnterprises,theCompanydesignatestheformer “availablefinancialassetsforsale”as“financialassetsmeasuredatfairvalueandwhosechangesareincludedin othercomprehensiveincome”,andtheentrustedloansaccountedthrough“othernon-currentassets”areclassifiedas“financialassetsmeasuredatamortizedcost”,andit’sthrough“debtinvestment”.
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of any New StandardsGoverningFinancialInstrumentsorLeases
□Applicable√Notapplicable
III.Auditor’ report
IstheFirstQuarterlyReportbeaudited?
□Yes√No
TheFirstQuarterlyreportisnotaudited.