[年报]粤电力Ｂ(200539):2021年年度报告（英文版）
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时间：2022年04月22日 17:31:47 中财网 |
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原标题:粤电力Ｂ:2021年年度报告（英文版）
Guangdong Electric Power Development Co., Ltd.
2021 Annual Report
April 2022
I. Important Notice, Table of Contents and Definitions
The Board of Directors , Supervisory Committee ,Directors, Supervisors and Senior Executives of the Company
hereby guarantees that there are no misstatement, misleading representation or important omissions in this report
and shall assume joint and several liability for the authenticity, accuracy and completeness of the contents hereof.
Mr.Wang Jin, The Company leader, Mr. Liu Wei, Chief financial officer and the Mr.Meng Fei, the person in
charge of the accounting department (the person in charge of the accounting )hereby confirm the authenticity and
completeness of the financial report enclosed in this Annual report. Other directors attending the Meeting for annual report deliberation except for the followed:
| The name of director who did not
attend the meeting in person | Position of absent director | Reason | The name of director who was
authorized |
| Li Fangje | Director | Due to business | Li Baobing |
| Mao Qinghan | Director | Due to business | Wang Jin |
| Yin Zhongyu | Independent director | Due to business | Ma Xiaoqian |
This annual report involves the forecasting description such as the future plans, and does not constitute the actual
commitments of the company to the investors. Investors and stakeholders should all maintain sufficient awareness
of risks for this and understand the differences between plans, forecasts and commitments. The Company's main business is the investment, construction and operation management of electric power
projects and new energy projects. Please refer to the section "XI. Outlook of the Company's Future Development"
in Section III Management Discussion & Analysis for possible risks and countermeasures of the Company's future
development.
The Company Will not distribute cash dividend or bonus shares, neither capitalizing of common reserves.
Table of Contents
I.Important Notice, Table of contents and Definitions
II. Company Profile & Financial Highlights.
III. Management Discussion & Analysis
IV. Corporate Governance
V. Environmental & Social Responsibility
VI. Important Events
VII. Change of share capital and shareholding of Principal Shareholders VIII. Situation of the Preferred Shares
IX. Corporate Bond
X. Financial Report
Documents available for inspection
1.Financial statements bearing the seal and signature of legal representative, financial controller and the person in
charge of the accounting organ;
2. Original audit report seal with accounting firms and signature and seal from CPA; 3.All original copies of official documents and notices, which were disclosed in China Securities Daily, Shanghai
Securities News, Securities Times, Securities Daily and Hong Kong Commercial Daily(overseas newspaper for
English version);
4.Chinese version of the annual report.
The documents mentioned above are kept in office, and are ready for reference at any time (except public holidays, Saturday and
Sunday).
Definition
| Terms to be defined | Refers to | Definition |
| Guangdong Energy Group | Refers to | Guangdong Energy Group Co., Ltd. |
| Sha A Power plant | Refers to | Guangdong Electric Power Development Co., Ltd. Sha A Power plant |
| Tumu Branch | Refers to | Guangdong Electric Power Development Co., Ltd.Tumushuke Branch |
| Qinghai Branch | Refers to | Guangdong Electric Power Development Co., Ltd. Qinghai Branch |
| Zhanjiang Electric Power | Refers to | Zhanjiang Electric Power Co., Ltd. |
| Yuejia Company | Refers to | Guangdong Yuejia Electric Power Co., Ltd. |
| Yuejiang Company | Refers to | Guangdong Shaoguan Yuejiang Power Generation Co., Ltd. |
| Zhenneng Company | Refers to | Maoming Zhenneng Thermal Power Co., Ltd. |
| Jinghai Company | Refers to | Guangdong Yudean Jinghai Power Co., Ltd. |
| Humen Power Company | Refers to | Guangdong Yudean Humen Power Co., Ltd. |
| Anxin Company | Refers to | Guangdong Yudean Anxin Electric Inspection & Installation Co., Ltd |
| Zhanjiang Zhongyue | Refers to | Zhanjiang Zhongyue Energy Co., Ltd. |
| Bohe Company | Refers to | Guangdong Yudean Energy Co., Ltd. |
| Huadu Company | Refers to | Guangdong Huadu Natural Gas Thermal Power Co., Ltd. |
| Dapu Power Plant | Refers to | Guangdong Dapu Power Generation Co., Ltd. |
| Wind Power Company | Refers to | Guangdong Wind Power Co., Ltd. |
| Guangqian Company | Refers to | Shenzhen Guangqian Electric Power Co., Ltd. |
| Electric Power Sales Company | Refers to | Guangdong Yudean Electric Power Sales Co., Ltd. |
| Huizhou Natural Gas Company | Refers to | Guangdong Huizhou Natural Gas Power Co., Ltd. |
| Red Bay Company | Refers to | Guangdong Red Bay Power Co., Ltd. |
| Pinghai Power Plant | Refers to | Guangdong Huizhou Pinghai Power Co., Ltd. |
| Lincang Company | Refers to | Lincang Yudean Energy Co., Ltd. |
| Yongan Company | Refers to | Guangdong Yudean Yongan Natural Gas Thermal Power Co., Ltd. |
| Binhaiwan Energy Company | Refers to | Guangdong Yudean Binhaiwan Energy Co., Ltd. |
| Dayawan Energy | Refers to | Guangdong Yudean Dayawan Integrated Energy Co., Ltd. |
| Qiming Energy | Refers to | Guangdong Yudean Qiming Energy Co., Ltd. |
| Huaguoquan Company | Refers to | Shenzhen Huaguoquan Electric Industry Service Co., Ltd. |
| Dananhai Company | Refers to | Guangdong Yudean Dananhai Intelligence Energy Co., Ltd. |
| Yudean Baihua | Refers to | Guangdong Yudean Baihua Integrated Energy Co., Ltd. |
| Bijie Energy | Refers to | Guangdong Bijie New Energy Co., Ltd. |
| Shaoguan Energy | Refers to | Guangdong Shaoguan Yuedianli New Energy Co., Ltd. |
| Henan Energy | Refers to | Henan Yudean New Energy Co., Ltd. |
| Sha C Company | Refers to | Guangdong Shajiao( plant C) Power Generation Co., Ltd. |
| Yuehua Power Generation | Refers to | Guangdong Yuehua Power Generation Co., Ltd. |
| Yunhe Power Generation | Refers to | Guangdong Yudean Yunhe Power Generation Co., Ltd. |
| Tumu Thermal Power | Refers to | Tumushuke Thermal Power Co.,Ltd. |
| Shibeishan Wind Power | Refers to | Guangdong Yudean Shibeishan Wind Energy Development Co., Ltd. |
| Dianbai Wind Power Company | Refers to | Guangdong Yudean Dianbai Wind Power Co., Ltd. |
| Huilai Wind Power Company | Refers to | Huilai Wind Power Generation Co., Ltd. |
| Yangjiang Wind Power Company | Refers to | Guangdong Yudean Yangjiang Offshore Wind Power Co., Ltd. |
| Heping Wind Power Company | Refers to | Guangdong Yudean Heping Wind Power Co., Ltd. |
| Pingyuan Wind Power Company | Refers to | Guangdong Yudean Pingyuan Wind Power Co., Ltd. |
| Wuxuan Wind Power Company | Refers to | Guangxi Wuxuan Yudean New Energy Co., Ltd. |
| Xupu Wind Power Company | Refers to | Hunan Xupu Yuefeng New Energy Co., Ltd. |
| Pingdian Integrated Energy Company | Refers to | Huizhou Pingdian Integrated Energy Co., Ltd. |
| Zhuhai Wind Power Company | Refers to | Guangdong Yudean Zhuhai Offshore Wind Power Co., Ltd. |
| Zhanjiang Wind Power Company | Refers to | Guangdong Yudean Zhanjiang Wind Power Generation Co., Ltd. |
| Qujie Wind Power Company | Refers to | Guangdong Yudean Qujie Wind Power Generation Co., Ltd. |
| Leizhou Wind Power Company | Refers to | Guangdong Yudean Leizhou Wind Power Generation Co., Ltd. |
| Tongdao Wind Power Company | Refers to | Tongdao Yuexin Wind Power Generation Co., Ltd. |
| Yudean Fuel Company | Refers to | Guangdong Power Industry Fuel Co., Ltd. |
| Yudean Insurance Captive Company | Refers to | Guangdong Yudean Property Insurance Captive Co., Ltd. |
| Shanxi Energy Company | Refers to | Shanxi Yudean Energy Co., Ltd. |
| Yudean Shipping Company | Refers to | Guangdong Yudean Shipping Co., Ltd. |
| Yudean Western Investment Company | Refers to | Guangdong Yudeann Holdings Western Investment Co., Ltd. |
| Energy Group Finance Company | Refers to | Guangdong Energy Group Finance Co., Ltd. |
| Energy Financial Leasing Company | Refers to | Guangdong Energy Financial Leasing Co., Ltd. |
| Guohua Taishan Company | Refers to | Guangdong Guohua Yudean Taishan Power Generation Co., Ltd. |
| Weixin Energy Co., Ltd. | Refers to | Yunnan Yuntou Weixin Energy Co., Ltd. |
| Zhongxinkeng hydropower station | Refers to | Yangshan Zhongxinkeng Power Co., Ltd. |
| Jiangkeng hydropower station | Refers to | Yangshan Jiangkeng hydropower station |
| Southern Offshore wind power | Refers to | Southern Offshore wind power Union Development Co., Ltd. |
| Sunshine Insurance | Refers to | Sunshine Insurance Group Co., Ltd. |
| Shenzhen Capital | Refers to | Shenzhen Capital Group Co., Ltd. |
| GMG | Refers to | GMG International Tendering Co., Ltd. |
| Shenzhen Energy | Refers to | Shenzhen Energy Group Co., Ltd. |
| Shenergy Company | Refers to | Shenergy Company Limited |
| Environmental Protection Company | Refers to | Guangdong Yudean Environmental Protection Co., Ltd. |
II. Company Profile & Financial Highlights.
1.Company Profile
| Stock abbreviation | Yue Dian Li A, Yue Dian Li B | Stock code： | 000539,200539 |
| Stock exchange for listing | Shenzhen Stock Exchange | | |
| Name in Chinese | 广东电力发展股份有限公司 | | |
| Abbreviation of Registered
Company Name in Chinese( | 粤电力 | | |
| English name (If any) | GUANGDONG ELECTRIC POWER DEVELOPMENT CO.,LTD | | |
| English abbreviation (If
any) | GED | | |
| Legal Representative | Wang Jin | | |
| Registered address | 33-36/F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province | | |
| Postal code of the
Registered Address | 510630 | | |
| Historical change of the
company's registered
address | No | | |
| Office Address | 33-36/F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province | | |
| Postal code of the office
address | 510630 | | |
| Internet Web Site | http://www.ged.com.cn | | |
| E-mail | [email protected] | | |
2. Contact person and contact manner
| | Board secretary | Securities affairs Representative |
| Name | Liu Wei | Qin Xiao |
| Contact address | 35/F, South Tower, Yudean Plaza, No.2
Tianhe Road East,
Guangzhou,Guangdong Province | 22/F, South Tower, Yudean Plaza, No.2
Tianhe Road East,
Guangzhou,Guangdong Province |
| Tel | (020)87570251 | 020)87570251 |
| Fax | (020)85138084 | (020)85138084 |
| E-mail | [email protected] | [email protected] |
3. Information disclosure and placed
| Newspapers selected by the Company for information
disclosure | China Securities Daily, Shanghai Securities News, Securities Times,
Securities Dailyand Hong Kong Commercial Daily(overseas newspaper
for English version) ,Juchao Website（http://www.cninfo.com.cn） |
| Internet website designated by CSRC for publishing
the Annual report of the Company | http://www.szse.cn/ |
| The place where the Annual report is prepared and
placed | Affair Dept. Of the Board of directors of the Company |
4.Changes i n Registration
| Organization Code | 91440000617419493W |
| Changes in principal business activities
since listing (if any) | On August 25,2021, The Company's main business consists of " investment,
construction and operation management of power projects, production and sales of
power, technical consulting and services in the power industry, leasing of terminal
facilities, general cargo warehousing, loading and unloading, and transportation
services. (Projects subject to approval according to law, Business activities can only be
carried out after being approved by the relevant departments)” is changed to “investmen
t, construction and operation management of power projects and new energy projects; pr
oduction and sales of electric power; technical consulting and services in the power indu
stry; leasing of terminal facilities; general cargo storage, loading and unloading ,shipme
nt service. (Projects subject to approval according to law, Business activities can only
be carried out after being approved by the relevant departments)" . |
| Changes is the controlling shareholder in
the past (is any) | No change |
5. Other Relevant Information
CPAs engaged
| Name of the CPAs | PWC Certified Public Accountants (special general partnership) |
| Office address | 11/F,PricewaterhouseCoopers Center,2 Corporate Avenue 202 Hu Bin Road, Huangpu
District, Shanghai |
| Names of the Certified Public
Accountants as the signatories | Chen Junjun, Li Xiaolei |
The sponsor performing persist ant supervision duties engaged by the Company in the reporting period.
□Applicable √Not Applicable
The Financial advisor performing persist ant supervision duties engaged by the Company in the reporting period
□Applicable √Not Applicable
6.Summary of Accounting data and Financial index
Whether it has retroactive adjustment or re-statement on previous accounting data √Yes □ No
Retroactive adjustment or restatement of causes
Merger of enterprises under the same control
| | 2021 | 2020 | | Changes of
this period
over same
period of
Last year(%) | 2019 | |
| | | Before adjustment | After
adjustment | After
adjustment | Before adjustment | After adjustment |
| Operating income（Yuan） | 44,167,223,887 | 28,329,065,391 | 33,602,895,865 | 31.44% | 29,360,155,150 | 35,832,090,286 |
| Net profit attributable to the
shareholders of the listed
company（Yuan） | -3,147,754,234 | 1,746,280,132 | 2,053,909,956 | -253.26% | 1,146,767,033 | 1,038,130,240 |
| Net profit after deducting of
non-recurring gain/loss
attributable to the shareholders
of listed company（Yuan） | -2,905,313,714 | 1,530,448,193 | 1,551,209,648 | -287.29% | 1,069,396,196 | 1,150,486,132 |
| Cash flow generated by
business operation, net（Yuan | -40,304,011 | 6,280,781,169 | 7,754,798,636 | -100.52% | 8,272,683,112 | 9,475,552,022 |
| Basic earning per
share(Yuan/Share) | -0.5995 | 0.3326 | 0.3912 | -253.25% | 0.2184 | 0.1977 |
| Diluted gains per
share(Yuan/Share) | -0.5995 | 0.3326 | 0.3912 | -253.25% | 0.2184 | 0.1977 |
| Weighted average ROE(%) | -10.72% | 6.54% | 6.95% | -17.67% | 4.77% | 3.11% |
| | End of 2021 | End of 2020 | | Changed
over last year
（％） | End of 2019 | |
| | | Before adjustment | After
adjustment | After
adjustment | Before adjustment | After adjustment |
| Gross assets（Yuan） | 114,271,451,479 | 85,970,818,168 | 99,479,773,162 | 14.87% | 75,472,027,123 | 88,690,163,330 |
| Net assets attributable to
shareholders of the listed
company（Yuan） | 23,185,079,805 | 27,369,995,422 | 31,820,079,621 | -27.14% | 26,178,241,077 | 33,392,176,103 |
The lower of the company’s net profit before and after the deduction of non-recurring gains and losses in the last
three fiscal years is negative, and the auditor's report of the previous year shows that the Company’s going
concern ability is uncertain.
□ Yes √No
The lower of the net profit before and after the deduction of the non-recurring gains and losses is negative.
√ Yes □ No
| Items | 2021 | 2020 | Remark |
| Operating income (Yuan) | 44,167,223,887 | 33,602,895,865 | Including electricity sales
income, steam income, labor
service income and a few
other business income
unrelated to the main
business. |
| Operating income deduction
amount (Yuan) | 4,784,789,933 | 5,817,935,297 | It mainly refers to the income
from the beginning of the
period to the combination date
of the subsidiaries of the
business combination under
the same control and other
business income unrelated to
the main business |
| Amount of operating income
after deduction (Yuan) | 39,382,433,954 | 27,784,960,568 | Including electricity sales
income, steam income and
labor service income |
7.The differences between domestic and international accounting standards 1）Simultaneously pursuant to both Chinese accounting standards and international accounting standards disclosed
in the financial reports of differences in net income and net assets. □ Applicable √ Not applicable
During the reporting period, there is no difference between net profit and net assets in the financial reports
disclosed in accordance with international accounting standards and those disclosed in accordance with Chinese
accounting standards.
2）Differences of net profit and net assets disclosed in financial reports prepared under overseas and Chinese
accounting standards.
□Applicable √Not applicable
The Company had no difference of the net profit or net assets disclosed in financial report, under either foreign
accounting rules or Chinese GAAP(Generally Accepted Accounting Principles) in the period. 3）Note to the Difference in the Accounting Data based on the Accounting Standards of CAS and IAS. □Applicable √Not applicable
8.Main Financial Index by Quarters
In RMB
| | First quarter | Second quarter | Third quarter | Fourth quarter |
| Operating income | 8,846,102,827 | 11,180,158,938 | 12,320,101,729 | 11,820,860,393 |
| Net profit attributable to the shareholders of the
listed company | -45,317,768 | 202,270,769 | -256,348,664 | -3,048,358,571 |
| Net profit after deducting of non-recurring gain/loss
attributable to the shareholders of listed company | -75,788,974 | 187,572,768 | -707,662,412 | -2,314,970,584 |
| Net Cash flow generated by business operation | 697,961,911 | 2,715,988,228 | 763,374,449 | -4,217,628,600 |
Whether significant variances exist between the above financial index or the index with its sum and the financial
index of the quarterly report as well as semi-annual report index disclosed by the Company. √ Yes □ No
In November this year, under the same control, the Company merged Shajiao C Company, Yuehua Power Generation Company and Yunhe Company, and restated the figures of the previous year and this year. As a result,
the above financial indicators are different from those in the disclosed quarterly reports and semi-annual reports.
9.Items and amount of non-current gains and losses
√Applicable □Not applicable
In RMB
| Items | Amount
(2021) | Amount
(2020) | Amount
(2019) | Notes |
| Non-current asset disposal
gain/loss(including the write-off part for
which assets impairment provision is
made) | 82,842,178 | 340,976,361 | 20,503,424 | This year, Shajiao C Company sold
Mingyuan assets, Bohe Coal and Electricity
stripped the wharf assets, and Yunhe
Company sold Yundian Energy, which
along with Yuejia company Liquidation all
increased the project income. |
| Government subsidy recognized in
current gain and loss(excluding those
closely related to the Company’s
business and granted under the state’s
policies) | 37,606,578 | 30,457,198 | 33,284,069 | It refers to various government funds
received by branches and subsidies. |
| Gain equal to the amount by which
investment costs for the Company to
acquire subsidiaries, associates and joint
ventures are lower than the Company’s
enjoyable fair value of identifiable net
assets of investees when making | | 9,784,791 | | |
| investments | | | | |
| Net gain and loss of the subsidiary
under the common control and
produced from enterprise consolidation
from the beginning of the period to the
consolidation date | -658,714,842 | 559,324,501 | -92,777,150 | This year, three newly controlled
companies, Yunhe, Yuehua and Shajiao C,
increased their net losses from the
beginning to the merger date |
| Switch back of provision for
depreciation of account receivable
which was singly taken depreciation
test. | | | 48,647,647 | |
| According to tax, accounting and other
laws, regulations, the requirements of
the current Gain/loss for a one-time
adjustment of the impact of the current
Gain/loss; | | | -4,449,214 | |
| Net amount of non-operating income
and expense except the aforesaid items | 16,979,172 | 36,323,955 | 5,674,806 | It is mainly the loss of asset retirement,
claim settlement and compensation income
of branches and subsidiaries |
| Less :Influenced amount of income tax | | 5,001,523 | | |
| Income tax impact | 55,885,342 | 106,635,578 | 26,385,663 | |
| Influenced amount of minor
shareholders’ equity (after tax) | -252,056,993 | 372,532,443 | 96,853,811 | |
| Total | -242,440,520 | 502,700,308 | -112,355,892 | -- |
Details of other profit and loss items that meet the non-recurring profit and loss definition □ Applicable√ Not applicable
None
For the Company’s non-recurring gain/loss items as defined in the Explanatory Announcement No.1 on
information disclosure for Companies Offering their Securities to the Public-Non-recurring Gains and Losses and
its non-recurring gain/loss items as illustrated in the Explanatory Announcement No.1 on information Disclosure
for Companies offering their securities to the public-non-recurring Gains and losses which have been defined as
recurring gains and losses, it is necessary to explain the reason. √ Applicable □ Not applicable
| Items | Amount involved(RMB) | Reason |
| Value-added tax will be
refunded immediately | 28,991,960 | According to the VAT refund policy, the company and its controlled subsi
diaries are in compliance with relevant regulations and continue to enjoy
the VAT refund immediately. |
| Carbon emission quota used
to fulfill the emission
reduction obligation | -135,013,051 | Comply with national policies and regulations, and continue to occur.
Meanwhile, this year, the Company's coal-fired on-grid electricity
consumption increased greatly year on year, and the free carbon emission
quota was insufficient, so it was necessary to purchase additional quota. |
III. Management Discussion & Analysis
I. Industry information of the Company during the reporting period In 2021, due to the complicated and unstable global pandemic, China's economic development faced triple pressures
of demand contraction, supply shock and expected weakening, which had not been witnessed for many years, the
external environment became more complicated, severe and uncertain, the energy and power industry was faced
with the arduous test of balancing multiple objectives of ensuring supply, adjusting structure and stabilizing growth,
and company`s business development faced severe and complicated risk challenges. In terms of power demand, according to the statistics of the national power industry in 2021 released by the National
Energy Administration, the electricity consumption of the whole society in China in 2021 was 8.31 trillion kWh,
with a year-on-year increase of 10.3%. The substantial increase in electricity consumption was mainly influenced by
factors such as the sustained recovery and development of the domestic economy, the low base in the same period of
the previous period, and the rapid growth of foreign trade exports. Including, the electricity consumption of the
primary industry was 102.3 billion kWh, with a year-on-year increase of 16.4%; The electricity consumption of the
secondary industry was 5.61 trillion kWh, with a year-on-year increase of 9.1%; The electricity consumption of the
tertiary industry was 1.42 trillion kWh, with a year-on-year increase of 17.8%; The domestic electricity
consumption of urban and rural residents was 1.17 trillion kWh, with a year-on-year increase of 7.3%.
In terms of power supply side, with the in-depth promotion of emission peak and carbon neutrality, China has
comprehensively promoted the large-scale and high-quality development of wind power and solar power generation,
accelerated the growth rate of new energy installed capacity, and continuously increased the proportion of total
installed capacity of power generation in China. By the end of 2021, the installed capacity of wind power in China
was 328 million kilowatts, with a year-on-year increase of 16.6%; The installed capacity of solar power generation
was 306 million kilowatts, with a year-on-year increase of 20.9%; The installed capacity of coal was 1.11 billion
kilowatts, with a year-on-year increase of 2.8%. In addition, the wind power generated 652.6 billion kWh, with a
year-on-year increase of 40.5%; The solar energy generated 325.9 billion kWh, with a year-on-year increase of
25.1%; The coal-fired power generation was 5.03 trillion kWh, with a year-on-year increase of 8.6%, accounting for
60.0% of full power generation, with a year-on-year decrease of 0.7%. Considering the installed capacity and power
generation, coal-fired power is still the most important power supply in China at present, and it is also the basic
power supply to ensure the safe and stable power supply in China. In 2021, due to safety inspection, environmental protection supervision, limited quota of imported coal and other
factors, the supply and demand of coal were out of balance, and the coal supply continued to be tight, which led to
the price of thermal coal hitting record highs. Thermal power enterprises as a whole were affected by the rising fuel
cost, and their operating performance continued to be under pressure. Relevant national authorities have
successively issued policies to ease the operating pressure of power generation enterprises, ensure the coal supply
and stabilize the coal price. On October 11, 2021, the National Development and Reform Commission issued the
Notice on Further Deepening the Marketization Reform of On-grid Electricity Price of Coal-fired Power Generation,
according to which the floating range of coal-fired power generation market transaction price changed from no more
than 10% by increase and 15% by decrease to no more than 20% by both increase and decrease, and the trading price
of high-efficiency enterprise market was not subject to the restriction of 20%. In addition, the National
Development and Reform Commission has issued a series of policies, such as the Notice on Further Improving the
Price Formation Mechanism of Coal Market, to strengthen the coal supply guarantee and reasonable price
intervention, and to improve the price transmission mechanism of electricity market. II.Main Business the Company is Engaged in During the Report Period The Company shall comply with the disclosure requirements of power-related industries in the Guideline No.3 for
Self-regulation of Listed Companies of Shenzhen Stock Exchange-Industry Information Disclosure. The Company mainly engages in the investment, construction and operation management of power projects, and the
production and sales of electric power. It belongs to the power, heat production and supply industry classified in the
“Guidelines for the Industry Classification of Listed Companies” by the China Securities Regulatory Commission.
Since its foundation, the Company has always adhered to the business tenet of “Capital from the people, using it for
electricity, and benefiting the public” and adheres to the business policy of “Centering on the main business of
electricity, with diversified development”, focusing on the main business of power and making the power structure
go diversified. In addition to the development, construction and operation of large-scale coal-fired power plants, it
also has clean energy projects such as LNG power generation, wind power generation and hydropower generation,
which provides reliable and clean energy to users through the grid company. As of the end of the reporting period,
the company has controllable installed capacity of 29.9426 million kilowatts, including holding installed capacity
of 28.2292 million kilowatts and equity participation installed capacity of 1.7134 million kilowatts. Including: The
holding installed capacity for coal-fired power generation was 20.55 million kilowatts, accounting for 72.8%; the
holding installed capacity for gas and electricity of 5.472 million kilowatts, accounting for 19.4%；and renewable
energy generation like wind power and hydropower of 2.2072 million kilowatts, accounting for 7.8%。.In addition,
the company is entrusted with managing the installed capacity of 8.854 million kilowatts . The above controllable
installed capacity and entrusted management installed capacity totaled 38,796,600 kilowatts. Income source is primarily contributed by power production and sales, and main business income is derived from
Guangdong Province. The company electricity sales price is subject to the benchmark price verified by the price
authority per relevant policies based on National Development and Reform Commission (NDRC) and the electricity transaction price through the market trade implementation per Guangdong Electricity Market Trade
Basic Rules and supporting files. In the reporting period, the electricity sold is 104.951 billion kilowatt-hours
,an increase of 32.49% YOY; average price stated in the consolidated statements is 465.70 Yuan/ thousands
kilowatt-hours(tax included ,the same below ), an increase of 18.43 yuan/ thousands kilowatt-hours or an increast
of 4.12% YOY;the total operating income was RMB 44,167.22million, an increase of RMB 10,564.33 million or an
increase of 31.44% YOY.
The company's business is dominated by coal-fired power generation, and the fuel costs account for a large portion
of operating costs, thus the fluctuations in coal prices have a significant impact on the company's operating
performance. During the reporting period, affected by the increase in power generation and the continuous increase
in coal prices, the company’s fuel costs were 38,663.70 million yuan, which accounted for 82.59% of the main
business costs; Affected by the sharp increase of power generation and coal price, the fuel cost increased by RMB
19,370,110 year on year. an increase of 100.4% .
During the reporting period, due to the stable and positive economic growth and other factors, the demand for social
electricity in Guangdong Province increased at a higher speed than expected, and the power supply continued to be
tight. The Company made every effort to ensure the safe production and stable supply of electricity, and the on-grid
electricity increased by 32.49% year on year. However, due to the high price of coal and gas, the on-grid electricity
price seriously dropped away from the power generation cost, and the power plant suffers a large loss. The gross
profit margin of the Company's main business and the net profit attributable to its parent company decreased year on
year, and the net profit attributable to its parent company was RMB -3,147.75 million, with a year-on-year decrease
of 253.26%.
Main Production and Operation Information
| Items | This reporting period | Same period last year |
| Total installed capacity ('0,000 kW) | 2,822.92 | 2604.8 |
| Installed capacity of units that are newly put
into production ('0,000 kW) | 218.12 | 220.4 |
| Planned installed capacity of approved
projects ('0,000 kW) | 778.8 | 706.1 |
| Planned installed capacity of projects under
construction ('0,000 kW) | 684.8 | 566.1 |
| Power generation ('00,000,000 kWh) | 1,107.03 | 835.66 |
| On-grid electricity or electricity sales
('00,000,000 kWh) | 1,049.51 | 792.12 |
| Average on-grid price or selling price (RMB/
'00,000,000 kWh , including tax) | 0.47 | 0.45 |
| Average power consumption rate of power
plant (%) | 5.23% | 5.28% |
| Power plant utilization hours (h) | 4,219 | 3,332 |
（1）Operation Information of thermal power （未完）
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