TigerResearch/tigerbot-earning-plugin huggingface dataset:
Total comprehensive income||||(1,071,426,735)|2,696,757,114
Item| Note|2022|2021(Restated)
 Cash flows from operating activities Cash received from sale of goods or rendering of services||58,985,187,824|48,542,309,080
 Refund of taxes and surcharges||2,436,660,341|119,312,074
 Cash received relating to other operating activities|4(55)(a)|262,732,577|272,691,582
 Sub-total of cash inflows||61,684,580,742|48,934,312,736
 Cash paid for goods and services||(54,729,703,233)|(43,630,281,266)
 Cash paid to and on behalf of employees||(2,736,395,371)|(2,571,733,835)
Payments of taxes and surcharges||(1,722,416,617)|(1,699,308,834)
 Cash paid relating to other operating activities|4(55)(b)|(1,016,200,747)|(910,814,133)
 Sub-total of cash outflows||(60,204,715,968)|(48,812,138,068)
 Net cash flows from operating activities|4(56)(a)|1,479,864,774|122,174,668
 Cash flows from investing activities Cash received from disposals of investments||2,033,756|-
 Cash received from returns on investments||257,724,562|388,877,407
 Net cash received from disposals of fixed assets, intangible assets and other long-term assets||1,734,284,438|1,656,570,070
Net cash received from disposals of subsidiaries and other business units||2,510,000|2,479,531
 Cash received relating to other investing activities|4(55)(c)|66,792,867|-
 Sub-total of cash inflows||2,063,345,623|2,047,927,008
 Cash paid to acquire fixed assets, intangible assets and other long-term assets||(14,599,355,445)|(10,732,326,573)
 Cash paid to acquire investments||(306,328,518)|(343,850,820)
 Net cash paid to acquire subsidiaries and other business units|4(56)(c)|(93,901,448)|(76,574,154)
 Cash paid relating to other investing activities|4(55)(d)|(215,864,319)|(188,815,562)
Sub-total of cash outflows||(15,215,449,730)|(11,341,567,109)
 Net cash flows used in investing activities||(13,152,104,107)|(9,293,640,101)
Item| Note|2022|2021(Restated)
 Cash flows from financing activities Cash received from capital contributions||466,806,611|131,187,000
 Including: Cash received from capital contributions by minority shareholders of subsidiaries||466,806,611|131,187,000
 Cash received from borrowings||50,147,797,975|32,180,925,115
 Cash received from issuance of debentures||598,290,000|7,192,751,240
 Sub-total of cash inflows||51,212,894,586|39,504,863,355
 Cash repayments of borrowings||(30,388,831,183)|(25,537,837,322)
Cash payments for distribution of dividends, profits or interest expenses||(2,267,620,075)|(4,635,028,385)
 Including: Dividends or profits paid to minority shareholders by subsidiaries||(35,299,408)|(1,548,524,814)
 Cash paid relating to other financing activities|4(55)(e)|(3,473,513,406)|(1,542,497,576)
 Sub-total of cash outflows||(36,129,964,664)|(31,715,363,283)
 Net cash flows from financing activities||15,082,929,922|7,789,500,072
 Effect of foreign exchange rate changes on cash and cash equivalents||972|(309)
 Net increase/(decrease) in cash and cash equivalents|4(56)(a)|3,410,691,561|(1,381,965,670)
Add: Cash and cash equivalents at the beginning of the year||8,023,116,939|9,405,082,609
 Cash and cash equivalents at the end of the year|4(56)(b)|11,433,808,500|8,023,116,939
Item|2022|2021
 Cash flows from operating activities Cash received from sale of goods or rendering of services|1,704,886,911|1,751,398,147
 Refund of taxes and surcharges|48,773,944|-
 Cash received relating to other operating activities|29,357,378|33,327,861
 Sub-total of cash inflows|1,783,018,233|1,784,726,008
 Cash paid for goods and services|(1,663,501,651)|(1,815,409,475)
 Cash paid to and on behalf of employees|(313,707,873)|(318,336,325)
Payments of taxes and surcharges|(32,727,086)|(38,149,853)
 Cash paid relating to other operating activities|(58,467,469)|(57,513,608)
 Sub-total of cash outflows|(2,068,404,079)|(2,229,409,261)
 Net cash flows used in operating activities|(285,385,846)|(444,683,253)
 Cash flows from investing activities Cash received from disposals of investments|50,000,000|240,000,000
 Cash received from returns on investments|334,042,053|2,005,221,164
 Net cash received from disposals of fixed assets, intangible assets and other long-term assets|262,854,303|1,539,098
Sub-total of cash inflows|646,896,356|2,246,760,262
 Cash paid to acquire fixed assets, intangible assets and other long-term assets|(15,738,158)|(25,572,026)
 Cash paid to acquire investments|(6,403,397,010)|(2,771,449,351)
 Net cash paid to acquire the subsidiary|(2,622,780,791)|(2,042,164,731)
 Sub-total of cash outflows|(9,041,915,959)|(4,839,186,108)
 Net cash flows used in investing activities|(8,395,019,603)|(2,592,425,846)
 Cash flows from financing activities Cash received from borrowings|16,131,600,000|4,838,375,167
Cash received from issuance of debentures|598,290,000|6,699,600,000
 Sub-total of cash inflows|16,729,890,000|11,537,975,167
 Cash repayments of borrowings|(7,440,000,000)|(7,300,000,001)
 Cash payments for distribution of dividends, profits or interest expenses|(434,052,090)|(824,679,178)
 Cash paid relating to other financing activities|(7,983,067)|(6,524,929)
 Sub-total of cash outflows|(7,882,035,157)|(8,131,204,108)
 Net cash flows from financing activities|8,847,854,843|3,406,771,059
Effect of foreign exchange rate changes on cash and cash equivalents|976|(309)
 Net increase in cash and cash equivalents|167,450,370|369,661,651
 Add: Cash and cash equivalents at the beginning of the year|707,707,282|338,045,631
 Cash and cash equivalents at the end of the year|875,157,652|707,707,282
| Note|| Attributable to shareholders of the Company||||||
 Balance at 1 January 2022(Restated)|| Share capital| Capital surplus| Other comprehensiv e income| Specific reserve| Surplus reserve| Undistributed profits| Minority interests| Total shareholders’ equity
||5,250,283,986|4,276,952,183|1,750,011,571|-|8,903,515,135|3,205,422,561|9,581,317,106|32,967,502,542
 Movements for the year ended 31 December 2022 Total comprehensive income Net loss||-|-|-|-|-|(3,003,916,572)|(1,511,072,555)|(4,514,989,127)
 Other comprehensive income|4(36)|-|-|(120,173,614)|-|-|-|1,253,770|(118,919,844)
 Total comprehensive income for the year||-|-|(120,173,614)|-|-|(3,003,916,572)|(1,509,818,785)|(4,633,908,971)
 Capital contribution and withdrawal by shareholders Capital contribution by shareholders||-|-|-|-|-|-|265,147,196|265,147,196
Transactions with minority shareholders||-|(19,288,105)|-|-|-|-|167,047,220|147,759,115
 Profit distribution Appropriation to surplus reserve|4(37)|-|-|-|-|-|-|-|-
 Distribution to shareholders|4(38)(b)|-|-|-|-|-|-|(53,852,929)|(53,852,929)
 Specific reserve Appropriation in the current year||-|-|-|58,277,883|-|-|22,825,440|81,103,323
 Utilisation in the current year||-|-|-|(57,757,504)|-|-|(22,687,361)|(80,444,865)
 Share of interests in associates in proportion to the shareholding|4(35)|-|636,197|-|-|-|-|-|636,197
 Acquisition of subsidiaries||-|-|-|-|-|-|32,000,000|32,000,000
Others||-|(1,253,770)|-|-|-|(837,472)|(1,319,610)|(3,410,852)
 Balance at 31 December 2022||5,250,283,986|4,257,046,505|1,629,837,957|520,379|8,903,515,135|200,668,517|8,480,658,277|28,722,530,756
| Note||| Attributable to shareholders of the Company|||||
|| Share capital| Capital surplus| Other comprehensive income| Specific reserve| Surplus reserve| Undistributed profits| Minority interests| Total shareholders’ equity
 Balance at 1 January 2021||5,250,283,986|8,014,211,278|1,957,175,481|-|8,515,360,638|8,083,048,238|11,808,648,219|43,628,727,840
 Movements for the year ended31 December 2021 Total comprehensive income Net loss (Restated)||-|-|-|-|-|(2,928,171,731)|(1,322,891,418)|(4,251,063,149)
 Other comprehensive income|4(36)|-|-|(206,788,258)|-|-|-|(16,202,657)|(222,990,915)
 Total comprehensive income for the year||-|-|(206,788,258)|-|-|(2,928,171,731)|(1,339,094,075)|(4,474,054,064)
 Capital contribution and withdrawal by shareholders Capital contribution by shareholders||-|-|-|-|-|-|249,001,517|249,001,517
Others||-|958,923|-|-|-|-|411,286,259|412,245,182
 Business combination involving enterprises under common control||-|(3,743,601,641)|-|-|-|-|-|(3,743,601,641)
 Profit distribution Appropriation to surplus reserve|4(37)|-|-|-|-|388,154,497|(388,154,497)|-|-
 Distribution to shareholders||-|-|-|-|-|(1,560,317,476)|(1,548,524,814)|(3,108,842,290)
 Share of interests in associates in proportion to the shareholding|4(35)|-|5,383,623|-|-|-|-|-|5,383,623
 Transfer within shareholders' equity Transfer from other comprehensive income to retained earnings||-|-|(375,652)|-|-|375,652|-|-
 Others||-|-|-|-|-|(1,357,625)|-|(1,357,625)
Balance at 31 December 2021(Restated)||5,250,283,986|4,276,952,183|1,750,011,571|-|8,903,515,135|3,205,422,561|9,581,317,106|32,967,502,542
| Note| Share capital| Capital surplus| Other comprehensive income| Specific reserve| Surplus reserve| Undistributed profits| Total shareholders’ equity
 Balance at 1 January 2022||5,250,283,986|4,834,039,575|1,764,421,309|-|8,903,515,135|6,585,377,384|27,337,637,389
 Movements for the year ended 31 December 2022 Total comprehensive income Net loss||-|-|-|-|-|(947,526,110)|(947,526,110)
 Other comprehensive income||-|-|(123,900,625)|-|-|-|(123,900,625)
 Total comprehensive income for the year||-|-|(123,900,625)|-|-|(947,526,110)|(1,071,426,735)
 Specific reserve Appropriation in the current year||-|-|-|3,991,586|-|-|3,991,586
 Utilisation in the current year||-|-|-|(3,991,586)|-|-|(3,991,586)
 Share of interests in associates in proportion to the shareholding|4(35)|-|636,197|-|-|-|-|636,197
 Balance at 31 December2022||5,250,283,986|4,834,675,772|1,640,520,684|-|8,903,515,135|5,637,851,274|26,266,846,851
| Note| Share capital| Capital surplus| Other comprehensive income| Specific reserve| Surplus reserve| Undistributed profits| Total shareholders’ equity
 Balance at 1 January 2021||5,250,283,986|5,405,326,643|1,946,305,595|-|8,515,360,638|4,724,248,211|25,841,525,073
 Movements for the year ended31 December 2021 Total comprehensive income Net profit||-|-|-|-|-|2,878,265,748|2,878,265,748
 Other comprehensive income||-|-|(181,508,634)|-|-|-|(181,508,634)
 Total comprehensive income for the year||-|-|(181,508,634)|-|-|2,878,265,748|2,696,757,114
 Capital contribution and withdrawal by shareholders Capital withdrawal by shareholders||-|(576,670,691)|-|-|-|-|(576,670,691)
 Profit distribution||||||||-
Appropriation to surplus reserve|4(37)|-|-|-|-|388,154,497|(388,154,497)|-
 Distribution to shareholders||-|-|-|-|-|(630,034,078)|(630,034,078)
 Share of interests in associates in proportion to the shareholding|4(35)|-|5,383,623|-|-|-|-|5,383,623
 Transfer within shareholders' equity||||||||-
 Transfer from other comprehensive income to retained earnings||-|-|(375,652)|-|-|375,652|-
 Others||-|-|-|-|-|676,348|676,348
 Balance at 31 December 2021||5,250,283,986|4,834,039,575|1,764,421,309|-|8,903,515,135|6,585,377,384|27,337,637,389
1 General information
Guangdong Electric Power Development Co., Ltd. (“the Company”) is a limited liability company jointly established by Guangdong Electric Power Holding Company, China Construction Bank, Guangdong Province Trust Investment Company, Guangdong Power Development Co., Ltd., Guangdong International Trust and China Guangfa Bank (currently named as Guangdong Guangkong Group Co., Ltd.). The address of the Company’s registered office and head office is F33~F36 South Tower Building of Yudean Square on 2nd Tianhe East Road, Guangzhou, Guangdong Province, the People’s Republic of China (“the PRC”). The Company’s parent company is Guangdong Energy Group Co., Ltd. (“GEGC”) and its ultimate controlling shareholder is the State-owned Assets Supervision and Administration Commission of the People’s Government of Guangdong Province.
The Company’s RMB ordinary shares (“A-share”) and domestic listed foreign shares (“B-share”) issued were listed for transactions in Shenzhen Stock Exchange respectively on 26 November1993 and 28 June 1995. As at 31 December 2022, the total share capital of the Company was RMB 5,250,283,986 with face value of RMB 1 per share.
The Company and its subsidiaries (collectively referred to as “the Group”) are principally engaged in the businesses of developing and operating electric power projects in Guangdong Province, Yunnan Province, Xinjiang Uygur Autonomous Region, Hunan Province and Guangxi Zhuang Autonomous Region of the PRC. For the information of the Company’s major subsidiaries included in the consolidation scope in the current year, please refer to Note 6(1).
These financial statements were authorised for issue by the Company's Board of Directors on 30 March 2023.
2 Summary of significant accounting policies and accounting estimates
The Group determines specific accounting policies and accounting estimates based on the characteristics of production and operation, which are mainly reflected in the measurement of expected credit losses (“ECL”) of receivables and contract assets (Note 2(9)), costing of inventory (Note 2(10)), investment properties, depreciation of fixed asset and right-of-use assets and amortisation of intangible assets (Notes 2(12), 2(13), 2(25) and 2(16)), impairment of long- term assets (Note 2(18)), timing of revenue recognition (Note 2(22)), deferred tax assets and deferred tax liabilities (Note 2(24)), etc.
2 Summary of significant accounting policies and accounting estimates (Cont’d)
The financial statements are prepared in accordance with the Accounting Standard for Business Enterprises - Basic Standard, and the specific accounting standards and other relevant regulations issued by the Ministry of Finance on 15 February 2006 and in subsequent periods(hereinafter collectively referred to as “the Accounting Standards for Business Enterprises”or“CAS”) and the disclosure requirements in the Preparation Convention of Information Disclosure by Companies Offering Securities to the Public No.15 –General Rules on Financial Reporting issued by the China Securities Regulatory Commission (“the CSRC”).
As at 31 December 2022, the Group’s net current liabilities amounted to RMB 16,192 million, capital commitments amounted to RMB 27,199 million, among which the amount expected to be settled within one year was RMB 14,199 million. Therefore, the Group is to some extent exposed to liquidity risk. The reasons for net current liabilities were that a portion of the Group’s capital expenditure was backed by short-term borrowings and the significant rise of coal prices from2021 to 2022.
In view of the above, the Board of Directors of the Company has carefully considered the Group's future working capital, operating conditions and available financing sources when assessing the Group's ability to continue as a going concern. The Group has formulated the following plans and measures to reduce pressure of working capital and improve its financial position:
(i) The Group maintains good relations of long-term cooperation with financial institutions (including
the Company’s associate Guangdong Energy Group Finance Co., Ltd. (“Energy Group Finance Company”) and Guangdong Energy Finance Leasing Company (“Energy Finance Leasing Company”)) in order to obtain sufficient financing credit lines. As at 31 December 2022, the Group’s available credit line and approved debt insurance from financial institutions amounted to approximately RMB 76,698 million, with RMB 26,823 million from Energy Group Finance Company, RMB 14,105 million from Energy Finance Leasing Company, RMB 24,770 million from other commercial banks, RMB 2,000 million of corporate debentures approved for issuance by the CSRC and RMB 9,000 million of quota of medium-term notes financing obtained after the registration in the Interbank Market in China. Among the Group’s available credit line from financial institutions, approximately RMB 3,016 million is due before 31 December 2023. In view of the Group’s business operation as well as good and long-term cooperative relationships with financial institutions, management expected the credit line due before 31 December 2023 could be renewed for another 12 months.
(ii) The Group will actively seek more favourable long-term electricity price and will strive to
effectively reduce coal procurement costs by giving full play to its advantages in scale. Management believes that based on the actual trend of coal and electricity prices as at the issue date of the financial statements and the expected gradual implementation of relevant national regulatory policies, the coal procurement situation is expected to improve to a certain extent and the Group's cash flows from operating activities in 2023 are expected to improve significantly.
(1) Basis of preparation (Cont’d)
The Board of Directors of the Company has reviewed the Group's cash flow forecasting for 2023 prepared by management. The cash flow forecasting is based on management's judgements and assumptions regarding a number of future events and is subject to the successful completion of a series of plans and measures planned and being implemented by the Group, including: (1) The Group will continuously monitor the financial indicators of its subsidiaries and improve the operation and financing structure of its subsidiaries through various measures, including but not limited to providing financing support and capital injection, so that the subsidiaries within the Group can continue to meet the requirements of the borrowing agreements in foreseeable future;
(2) the Group can continue to meet the conditions of existing bank financing and obtain necessary borrowing renewals and new borrowings, including financing from Energy Group Finance Company and Energy Finance Leasing Company, and it can successfully conduct external financing by issuing corporate debentures, medium-term notes, and ultra-short-term financing bonds when necessary; and (3) the Group will obtain more favourable long-term electricity price and effective adoption to lower fuel procurement costs so as to improve operating cash flows. Taking into full consideration of the above measures being implemented or planned by the Group, management believes that the Group can obtain sufficient funds to pay its operating expenses, capital commitment within one year and repay its matured debt obligations within the next 12 months from 31 December 2022. Therefore, management believes that it is appropriate to prepare these financial statements on a going concern basis.
(2) Statement of compliance with the Accounting Standards for Business Enterprises
The financial statements of the Group and the Company for the year ended 31 December 2022 are in compliance with the Accounting Standards for Business Enterprises, and truly and completely present the consolidated and the company’s financial position of the Group and the Company as at 31 December 2022 and their financial performance, cash flows and other information for the year then ended.
The Company’s accounting year starts on 1 January and ends on 31 December.
The Company’s recording currency is Renminbi (RMB).
Summary of significant accounting policies and accounting estimates (Cont’d)
The consideration paid and net assets obtained by the Group in a business combination are measured at the carrying amount. If the acquiree is acquired from a third party by the ultimate controlling party in a prior year, the consideration paid and net assets obtained by the Group are measured based on the carrying amounts of the acquiree’s assets and liabilities (including the goodwill arising from the acquisition of the acquiree by the ultimate controlling party) presented in the consolidated financial statements of the ultimate controlling party. The difference between the carrying amount of the net assets obtained from the combination and the carrying amount of the consideration paid for the combination is treated as an adjustment to capital surplus (share premium). If the capital surplus (share premium) is not sufficient to absorb the difference, the remaining balance is adjusted against retained earnings. Costs directly attributable to the combination are included in profit or loss in the period in which they are incurred. Transaction costs associated with the issue of equity or debt securities for the business combination are included in the initially recognised amounts of the equity or debt securities.
For business combinations involving enterprises not under common control, the Group adopts concentration test to judge whether the acquired production and operation activities or asset groups constitute a business. If the concentration test is passed, the Group conducts accounting treatment according to the relevant asset purchase principle; if the concentration test fails, the Group will further judge whether it constitutes a business based on whether the relevant groups obtained in the merger have at least one input and one substantive processing process, and the combination of the two has a significant contribution to the output capacity.
The cost of combination and identifiable net assets obtained by the Group in a business combination are measured at fair value at the acquisition date. Where the cost of the combination exceeds the Group’s interest in the fair value of the acquiree’s identifiable net assets, the difference is recognised as goodwill; where the cost of combination is lower than the Group’s interest in the fair value of the acquiree’s identifiable net assets, the difference is recognised in profit or loss for the current period. Costs directly attributable to the combination are included in profit or loss in the period in which they are incurred. Transaction costs associated with the issue of equity or debt securities for the business combination are included in the initially recognised amounts of the equity or debt securities.
Subsidiaries are consolidated from the date on which the Group obtains control and are de- consolidated from the date that such control ceases. For a subsidiary that is acquired in a business combination involving enterprises under common control, it is included in the consolidated financial statements from the date when it, together with the Company, comes under common control of the ultimate controlling party. The portion of the net profit realised before the combination date is presented separately in the consolidated income statement.
GUANGDONG ELECTRIC POWER DEVELOPMENT CO., LTD. NOTES TO THE FINANCIAL STATEMENTS
(All amounts in RMB Yuan unless otherwise stated)[English translation for reference only]
(6) Preparation of consolidated financial statements (Cont'd)
All significant intra-group balances, transactions and unrealised profits are eliminated in the consolidated financial statements. The portion of subsidiaries’shareholders’equity and the portion of subsidiaries’net profits and losses and comprehensive incomes for the period not attributable to the Company are recognised as minority interests, net profit or loss attributable to minority interests and total comprehensive income attributable to minority interests, and presented separately in the consolidated financial statements under shareholders’equity, net profit and total comprehensive income respectively. When the amount of loss for the current period attributable to the minority shareholders of a subsidiary exceeds the minority shareholders’ portion of the opening balance of owners’equity of the subsidiary, the excess is allocated against the balance of minority interests. Unrealised profits and losses resulting from the sale of assets by the Company to its subsidiaries are fully eliminated against net profit attributable to owners of the parent. Unrealised profits and losses resulting from the sale of assets by a subsidiary to the Company are eliminated and allocated between net profit attributable to owners of the parent and net profit attributable to minority interests in accordance with the allocation proportion of the parent in the subsidiary. Unrealised profits and losses resulting from the sale of assets by one subsidiary to another are eliminated and allocated between net profit attributable to owners of the parent and net profit attributable to minority interests in accordance with the allocation proportion of the parent in the subsidiary.
Foreign currency transactions are translated into RMB using the exchange rates prevailing at the dates of the transactions.