[中报]粤电力Ｂ(200539):2022年半年度报告（英文版）
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时间：2022年08月30日 21:36:22 中财网 |
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原标题:粤电力Ｂ:2022年半年度报告（英文版）
GUANGDONGELECTRICPOWERDEVELOPMENTCO.,LTD.
TheSemi-annualReport2022August2022
I.ImportantNotice,TableofContentsandDefinitions
TheBoardofDirectors,SupervisoryCommittee,Directors,SupervisorsandSeniorExecutivesoftheCompanyherebyguaranteesthattherearenomisstatement,misleadingrepresentationorimportantomissionsinthisreportandshallassumejointandseveralliabilityfortheauthenticity,accuracyandcompletenessofthecontentshereof.
Mr.WangJin,TheCompanyleader,Mr.LiuWei,ChieffinancialofficerandtheMr.MengFei,thepersoninchargeoftheaccountingdepartment(thepersoninchargeoftheaccounting)herebyconfirmtheauthenticityandcompletenessofthefinancialreportenclosedinthissemi-annualreport.OtherdirectorsattendingtheMeetingforannualreportdeliberationexceptforthefollowed:
| Thenameofdirectorwhodid
notattendthemeetinginperson | Positionofabsent
director | Reason | Thenameofdirectorwho
wasauthorized | | LiFangje | Director | Duetobusiness | WangJin | | LiBaobing | Director | Duetobusiness | ZhengYunpeng |
TheCompanyismainlyengagedinthermalpowergeneration.Thebusinessofthermalpowergenerationisgreatlyaffectedbyfactorsincludingelectricpowerdemandandfuelprice.RefertoSection10ofChapterIIIofthisannualreport-situationfacedandcountermeasuresforrelevantinformation.TheCompanyWillnotdistributecashdividendorbonusshares,neithercapitalizingofcommonreserves.TableofContents
I.ImportantNotice,TableofcontentsandDefinitions
II.CompanyProfile&FinancialHighlights.
III.ManagementDiscussion&Analysis
IV.CorporateGovernance
V.Environmental&SocialResponsibility
VI.ImportantEvents
VII.ChangeofsharecapitalandshareholdingofPrincipalShareholdersVIII.SituationofthePreferredShares
IX.CorporateBond
X.FinancialReport
Documentsavailableforinspection
1.Financialstatementsbearingthesealandsignatureoflegalrepresentative,financialcontrollerandtheperson
inchargeoftheaccountingorgan;
2..Alloriginalcopiesofofficialdocumentsandnotices,whichweredisclosedinSecuritiesTimes,ChinaSecuritiesandHongKongCommercialDaily(BothEnglishandChineseversion);3.Chineseversionofthesemi-annualreport.
Thedocumentsmentionedabovearekeptinoffice,andarereadyforreferenceatanytime(exceptpublicholidays,SaturdayandSunday).
Definition
| Termstobedefined | Refersto | Definition | | GuangdongEnergyGroup | Refersto | GuangdongEnergyGroupCo.,Ltd. | | ShaAPowerplant | Refersto | GuangdongElectricPowerDevelopmentCo.,Ltd.ShaAPowerplant | | XinjiangBranch | Refersto | GuangdongElectricPowerDevelopmentCo.,Ltd.XinjiangBranch | | QinghaiBranch | Refersto | GuangdongElectricPowerDevelopmentCo.,Ltd.QinghaiBranch | | ZhanjiangElectricPower | Refersto | ZhanjiangElectricPowerCo.,Ltd. | | YuejiaCompany | Refersto | GuangdongYuejiaElectricPowerCo.,Ltd. | | YuejiangCompany | Refersto | GuangdongShaoguanYuejiangPowerGenerationCo.,Ltd. | | ZhennengCompany | Refersto | MaomingZhennengThermalPowerCo.,Ltd. | | JinghaiCompany | Refersto | GuangdongYudeanJinghaiPowerCo.,Ltd. | | HumenPowerCompany | Refersto | GuangdongYudeanHumenPowerCo.,Ltd. | | AnxinCompany | Refersto | GuangdongYudeanAnxinElectricInspection&InstallationCo.,Ltd | | ZhanjiangZhongyue | Refersto | ZhanjiangZhongyueEnergyCo.,Ltd. | | BoheCompany | Refersto | GuangdongYudeanEnergyCo.,Ltd. | | HuaduCompany | Refersto | GuangdongHuaduNaturalGasThermalPowerCo.,Ltd. | | DapuPowerPlant | Refersto | GuangdongDapuPowerGenerationCo.,Ltd. | | WindPowerCompany | Refersto | GuangdongWindPowerCo.,Ltd. | | GuangqianCompany | Refersto | ShenzhenGuangqianElectricPowerCo.,Ltd. | | ElectricPowerSalesCompany | Refersto | GuangdongYudeanElectricPowerSalesCo.,Ltd. | | HuizhouNaturalGasCompany | Refersto | GuangdongHuizhouNaturalGasPowerCo.,Ltd. | | RedBayCompany | Refersto | GuangdongRedBayPowerCo.,Ltd. | | PinghaiPowerPlant | Refersto | GuangdongHuizhouPinghaiPowerCo.,Ltd. | | LincangCompany | Refersto | LincangYudeanEnergyCo.,Ltd. | | YonganCompany | Refersto | GuangdongYudeanYonganNaturalGasThermalPowerCo.,Ltd. | | BinhaiwanEnergyCompany | Refersto | GuangdongYudeanBinhaiwanEnergyCo.,Ltd. | | DayawanEnergy | Refersto | GuangdongYudeanDayawanIntegratedEnergyCo.,Ltd. | | QimingEnergy | Refersto | GuangdongYudeanQimingEnergyCo.,Ltd. | | HuaguoquanCompany | Refersto | ShenzhenHuaguoquanElectricIndustryServiceCo.,Ltd. | | DananhaiCompany | Refersto | GuangdongYudeanDananhaiIntelligenceEnergyCo.,Ltd. | | YudeanBaihua | Refersto | GuangdongYudeanBaihuaIntegratedEnergyCo.,Ltd. | | BijieEnergy | Refersto | GuangdongBijieNewEnergyCo.,Ltd. | | ShaoguanEnergy | Refersto | GuangdongShaoguanYuedianliNewEnergyCo.,Ltd. | | HenanEnergy | Refersto | HenanYudeanNewEnergyCo.,Ltd. | | ShaCCompany | Refersto | GuangdongShajiao(plantC)PowerGenerationCo.,Ltd. | | YuehuaPowerGeneration | Refersto | GuangdongYuehuaPowerGenerationCo.,Ltd. | | YunhePowerGeneration | Refersto | GuangdongYudeanYunhePowerGenerationCo.,Ltd. | | TumuThermalPower | Refersto | TumushukeThermalPowerCo.,Ltd. | | HanhaiEnergy | Refersto | TumushukeYudeanHanhaiNewEnergyCo.,Ltd. | | ShibeishanWindPower | Refersto | GuangdongYudeanShibeishanWindEnergyDevelopmentCo.,Ltd. | | DianbaiWindPowerCompany | Refersto | GuangdongYudeanDianbaiWindPowerCo.,Ltd. | | HuilaiWindPowerCompany | Refersto | HuilaiWindPowerGenerationCo.,Ltd. | | YangjiangWindPowerCompany | Refersto | GuangdongYudeanYangjiangOffshoreWindPowerCo.,Ltd. | | HepingWindPowerCompany | Refersto | GuangdongYudeanHepingWindPowerCo.,Ltd. | | PingyuanWindPowerCompany | Refersto | GuangdongYudeanPingyuanWindPowerCo.,Ltd. | | WuxuanWindPowerCompany | Refersto | GuangxiWuxuanYudeanNewEnergyCo.,Ltd. | | XupuWindPowerCompany | Refersto | HunanXupuYuefengNewEnergyCo.,Ltd. | | PingdianIntegratedEnergyCompany | Refersto | HuizhouPingdianIntegratedEnergyCo.,Ltd. | | ZhuhaiWindPowerCompany | Refersto | GuangdongYudeanZhuhaiOffshoreWindPowerCo.,Ltd. | | ZhanjiangWindPowerCompany | Refersto | GuangdongYudeanZhanjiangWindPowerGenerationCo.,Ltd. | | QujieWindPowerCompany | Refersto | GuangdongYudeanQujieWindPowerGenerationCo.,Ltd. | | LeizhouWindPowerCompany | Refersto | GuangdongYudeanLeizhouWindPowerGenerationCo.,Ltd. | | TongdaoWindPowerCompany | Refersto | TongdaoYuexinWindPowerGenerationCo.,Ltd. | | YudeanFuelCompany | Refersto | GuangdongPowerIndustryFuelCo.,Ltd. | | YudeanInsuranceCaptiveCompany | Refersto | GuangdongYudeanPropertyInsuranceCaptiveCo.,Ltd. | | ShanxiEnergyCompany | Refersto | ShanxiYudeanEnergyCo.,Ltd. | | YudeanShippingCompany | Refersto | GuangdongYudeanShippingCo.,Ltd. | | YueqianCompany | Refersto | GuizhouYueqianElectricPowerCo.,Ltd. | | EnergyGroupFinanceCompany | Refersto | GuangdongEnergyGroupFinanceCo.,Ltd. | | EnergyFinancialLeasingCompany | Refersto | GuangdongEnergyFinancialLeasingCo.,Ltd. | | GuohuaTaishanCompany | Refersto | GuangdongGuohuaYudeanTaishanPowerGenerationCo.,Ltd. | | WeixinEnergyCo.,Ltd. | Refersto | YunnanYuntouWeixinEnergyCo.,Ltd. | | Zhongxinkenghydropowerstation | Refersto | YangshanZhongxinkengPowerCo.,Ltd. | | Jiangkenghydropowerstation | Refersto | YangshanJiangkenghydropowerstation | | SouthernOffshorewindpower | Refersto | SouthernOffshorewindpowerUnionDevelopmentCo.,Ltd. | | SunshineInsurance | Refersto | SunshineInsuranceGroupCo.,Ltd. | | ShenzhenCapital | Refersto | ShenzhenCapitalGroupCo.,Ltd. | | GMG | Refersto | GMGInternationalTenderingCo.,Ltd. | | ShenzhenEnergy | Refersto | ShenzhenEnergyGroupCo.,Ltd. | | ShenergyCompany | Refersto | ShenergyCompanyLimited | | EnvironmentalProtectionCompany | Refersto | GuangdongYudeanEnvironmentalProtectionCo.,Ltd. |
II.CompanyProfile&FinancialHighlights.
I.CompanyProfile
| Stockabbreviation | YueDianLiA,YueDianLiB | Stockcode： | 000539,200539 | | Stockexchangeforlisting | ShenzhenStockExchange | | | | NameinChinese | 广东电力发展股份有限公司 | | | | AbbreviationofRegistered
CompanyNameinChinese( | 粤电力 | | | | Englishname(Ifany) | GUANGDONGELECTRICPOWERDEVELOPMENTCO.,LTD | | | | Englishabbreviation(Ifany) | GED | | | | LegalRepresentative | WangJin | | |
Ⅱ.Contactpersonandcontactmanner
| | Boardsecretary | SecuritiesaffairsRepresentative | | Name | LiuWei | HuangXiaoWen | | Contactaddress | 35F,SouthTower,YudeanPlaza,No.2
TianheRoadEast,
Guangzhou,GuangdongProvince | 35F,SouthTower,YudeanPlaza,No.2
TianheRoadEast,
Guangzhou,GuangdongProvince | | Tel | (020)87570251 | (020)87570251 | | Fax | (020)85138084 | (020)85138084 | | E-mail | [email protected] | [email protected] |
III.Otherinfo.
1.Wayofcontact
Whetherregistrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanychangedinreportingperiodornot
□Applicable√Notapplicable
Registrationsaddress,officesaddressandcodesaswellaswebsiteandemailoftheCompanyhasnochangeinreportingperiod,foundmoredetailsinannualreport2021.
2.Informationinquiry
Whetherinformationdisclosureandpreparationplacechangedinreportingperiodornot□Applicable√Notapplicable
Noneoftheofficialpresses,website,andplaceofenquiryhasbeenchangedinthesemireportperiod.FordetailspleasefindtheAnnualReport2021.
3.Otherrelevantinformation
Didanychangeoccurtootherrelevantinformationduringthereportingperiod?□Applicable√Notapplicable
IV.SummaryofAccountingdataandFinancialindex
Whetherithasretroactiveadjustmentorre-statementonpreviousaccountingdata√Yes□No
Mergerofenterprisesunderthesamecontrol
| | Reporting
period | Sameperiodoflastyear | | Changesofthisperiod
oversameperiodofLast
year(%) | | | | Beforeadjustment | Afteradjustment | Afteradjustment | | Operatingincome（Yuan） | 22,611,239,733 | 17,781,521,221 | 20,594,038,804 | 9.80% | | Netprofitattributabletothe
shareholdersofthelisted
company（Yuan） | -1,375,739,165 | 109,028,853 | 326,629,275 | -521.19% | | Netprofitafterdeductingof
non-recurringgain/loss
attributabletotheshareholders
oflistedcompany（Yuan） | -1,399,609,834 | 90,377,204 | 267,001,900 | -624.19% | | Cashflowgeneratedby
businessoperation,net
（Yuan） | -208,358,510 | 3,096,857,643 | 3,786,846,816 | -105.50% | | Basicearningper
share(Yuan/Share) | -0.2620 | 0.0208 | 0.0622 | -521.19% | | Dilutedgainsper
share(Yuan/Share) | -0.2620 | 0.0208 | 0.0622 | -521.19% | | WeightedaverageROE(%) | -6.23% | 0.40% | 1.02% | -7.25% | | | Asattheend
ofthereporting
period | Asattheendoflastyear | | Changedoverlastyear
（％） | | | | Beforeadjustment | Afteradjustment | Afteradjustment | | Grossassets（Yuan） | 117,473,162,02
5 | 114,271,451,479 | 114,491,142,111 | 2.60% | | Netassetsattributableto
shareholdersofthelisted
company（Yuan） | 21,910,644,854 | 23,185,079,805 | 23,402,720,821 | -6.38% |
ReasonsofaccountingpolicychangeandcorrectionofaccountingerrorsAccording to the relevant provisions of the Interpretation No.15 ofAccounting Standards for Business
Enterprises(CK[2021]No.35),theincomeandcostrelatedtothetrialrunsalesareincludedinthecurrentprofitsandlosses.TheCompanyhascalculatedthetrialrunsalesfromJanuary1,2022accordingtotherequirementsofthisInterpretation,andmaderetrospectiveadjustmentstothetrialrunsalesthatoccurredfromJanuary1,2021toJanuary1,2022.
1.Differencesbetweenaccountingdataunderdomesticandoverseasaccountingstandards1).Simultaneously pursuant to both Chinese accounting standards and international accounting standards
disclosedinthefinancialreportsofdifferencesinnetincomeandnetassets.□Applicable□√Notapplicable
None
2).DifferencesofnetprofitandnetassetsdisclosedinfinancialreportspreparedunderoverseasandChineseaccountingstandards.
□Applicable√Notapplicable
None
2.Itemsandamountofnon-currentgainsandlosses
√Applicable□Notapplicable
InRMB
| Items | Amount | Note | | Non-currentassetdisposal
gain/loss(includingthewrite-offpartfor
whichassetsimpairmentprovisionis
made) | 31,707,133 | MainlyduetoYuejiaCompanyshut-
downandliquidationofassetstoobtain
income. | | Governmentsubsidiesrecognizedin
currentgainandloss(excludingthose
closelyrelatedtotheCompany’s
businessandgrantedunderthestate’s
policies) | 15,402,657 | Mainlyduetopowersaleseconomic
policyincentivesandsubsidiesfor
variouspowerplantprojects. | | Othernon-businessincomeand
expendituresotherthantheabove | 8,080,287 | | | Finesandoverduepaymentfees | -5,470,272 | It is mainly due to the fine for land
reclamationofPinghaiPowerPlantand
thetaxdelaychargeofGuangqianPower
Plant. | | Non-currentassetsscrapincome | 2,242,304 | It is mainly the income of Jinghai
Company'sscrappedfixedassets. | | LossofNon-currentassetsscrapped | -5,145,026 | Itismainlythelossofscrappedfixed
assets of Jinghai Company, Zhongyue
EnergyandYuehuaCompany. | | Less:Amountofinfluenceofincometax | 13,059,777 | | | Influencedamountofminor
shareholders’equity(aftertax) | 9,886,637 | | | Total | 23,870,669 | |
Detailsofotherprofitandlossitemsthatmeetthenon-recurringprofitandlossdefinition□Applicable√Notapplicable
None
For the Company’s non-recurring gain/loss items as defined in the ExplanatoryAnnouncement No.1 oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationDisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason.√Applicable□Notapplicable
| Items | Amountinvolved(RMB) | Reason | | Value-addedtaxwillberefunded
immediately | 19,790,415 | Complywithnationalpoliciesand
regulations,andcontinuetooccur | | Carbonemissionquotausedtofulfillthe
emissionreductionobligation | -8,000,000 | Complywithnationalpoliciesand
regulations,andcontinuetooccur |
III.ManagementDiscussion&Analysis
Ⅰ.MainBusinesstheCompanyisEngagedinDuringtheReportPeriod
TheCompanymainlyengagesintheinvestment,constructionandoperationmanagementofpowerprojects,andtheproductionandsalesofelectricpower.Itbelongstothepower,heatproductionandsupplyindustryclassifiedinthe“GuidelinesfortheIndustryClassificationofListedCompanies”bytheChinaSecuritiesRegulatoryCommission.Sinceitsfoundation,theCompanyhasalways adheredtothebusinesstenetof“Capitalfromthepeople,usingitforelectricity,andbenefitingthepublic”andadherestothebusinesspolicyof
“Centeringonthemainbusinessofelectricity,withdiversifieddevelopment”,focusingonthemainbusinessofpower and making the power structure go diversified. In addition to the development, construction and
operationoflarge-scalecoal-firedpowerplants,italsohascleanenergyprojectssuchasLNGpowergeneration,windpowergenerationandhydropowergeneration,whichprovidesreliableandcleanenergytousersthroughthegridcompany.AsofJune30,2022,thecompanyhascontrollableinstalledcapacityof30.433millionkilowattsand71.68%,includingholdinginstalledcapacityof28.6852millionkilowattsandequityparticipationinstalledcapacityof1.7478millionkilowatts.Including:theholdinginstalledcapacityforcoal-firedpowergenerationof20.55millionkilowattsand71.64%;theholdinginstalledcapacityforgasandelectricityof5.932millionkilowattsand20.68% andrenewableenergygenerationlikewindpowerandhydropowerof2.2032millionkilowattsand7.68%.inaddition,TheentrustedinstalledcapacityoftheCompanyformanagementis8.854millionkilowatts,accountingfor7.68%ofthetotal(including6.65millionkilowattsofthermalpowerand2.204millionkilowattsofhydropower).Theabovecontrollableinstalledcapacityandentrustedinstalledcapacityformanagementtotaled39.287millionkilowatts.
Incomesourceisprimarilycontributedbypowerproductionandsales,andmainbusinessincomeisderivedfromGuangdongProvince.ThecompanyelectricitysalespriceissubjecttothebenchmarkpriceverifiedbythepriceauthorityperrelevantpoliciesbasedonNationalDevelopmentandReformCommission(NDRC)andtheelectricitytransactionpricethroughthemarkettradeimplementationperGuangdongElectricityMarketTradeBasicRulesandsupportingfiles.Inthereportingperiod,theelectricitysoldis46.349billionkilowatt-hours,adecreaseof6.46%YOY;averagepricestatedintheconsolidatedstatementsis542.74Yuan/thousandskilowatt-hours(taxincluded,thesamebelow),YOYriseof84.74Yuan/thousandskilowatt-hours,anincreaseof18.5%YOY;thetotaloperatingincomewasRMB22,611.24million,anincreaseofRMB2,017.20millionoranincreaseof9.8%YOY.
SincetheCompany'smainbusinessisthermalpower,andthefuelcostaccountsforarelativelylargepartoftheoperatingcost,thefluctuationofcoalandnaturalgas priceshasasignificantimpactontheCompany'soperatingperformance.Duringthereportingperiod,affectedbytheincreaseinpowergenerationandthecontinuousincreaseincoalprices,thecompany’sfuelcostswere18,183.28millionyuan,whichaccountedfor78.72%ofthemainbusinesscosts;Affectedbythereboundinpowergenerationandtherisingcoalprice,thefuelcostforpowergenerationincreasedbyRMB3,152.92millionYOY,anincreaseof20.98%.Duringthereportingperiod,duetotheinfluenceofCOVID-19andweather,thedemandforsocialelectricityinGuangdongProvincedeclined,andtheCompany'son-gridpowerconsumptiondecreasedslightlyby6.46%yearonyear.Benefitingfromtherisingelectricityprice,theCompany'soperatingincomeincreasedslightly.However,duetothehighpriceofcoalandotherfuels,theCompany'ssubordinatethermalpowerplantssufferedlargelosses.Inthefirsthalfof2022,thecompany'sthermalpowerbusinessachievednetprofitattributabletoitsparentof-1,959.68millionyuan,andthenewenergybusinessachievednetprofitattributabletoitsparentof322.77millionyuan,ayear-on-yearincreaseof39.49%.AlthoughtheprofitcontributionoftheCompany'snewenergypowerbusinessincreasedsignificantlyyearonyear,theproportionofsuchbusinesswasrelativelysmall,whichmadeitdifficulttomakeupforthelossoftheCompany'sthermalpowerbusiness,resultinginasharpdeclineinthegrossprofitmarginoftheCompany'smainbusinessandthenetprofitattributabletoitsparentcompany.Thenetprofitattributabletoitsparentcompanywas-RMB1,375.74million,withayear-on-yeardecreaseof521.19%.
TheCompanyshallcomplywiththedisclosurerequirementsof"powersupplyindustries"intheGuidelineNo.3forSelf-regulationofListedCompaniesofShenzhenStockExchange-IndustryInformationDisclosureTheCompany'snewenergydevelopmentisbasedinGuangdong,facingthewholecountry,showingthe"4+N"regionallayoutwithGuangdong,Xinjiang,QinghaiandGuizhouprovincesaskeydevelopmentandotherdomesticregionsasactiveexpansion.Bytheendofthereportingperiod,theCompanyhadputintoproduction21newenergyprojectswithaholdinginstalledcapacityof1,970,400kilowatts;Ithas14newenergyprojectsunderconstruction,including1.04millionkilowattsofwindpowerand1.006millionkilowattsofphotovoltaicpower,withatotalholdinginstalledcapacityof2.046millionkilowatts.DuringtheTenthFive-YearPlanperiod,theCompanywillactivelygraspthedevelopmenttrendofacceleratingenergytransformationunderthegoalof"emissionpeak"and"carbonneutrality",implementthestrategyof"1+2+3+X",activelyexpandtheresourcesofnewenergyprojectsthroughself-constructionandacquisition,fullypromotetheleap-forwarddevelopmentofnewenergy,andbuildanecologicalandcivilizedpowerenterprise.1.AsofJune30,2022,theholdingnewenergypowergenerationprojectsthattheCompanyhasputintoproductionareasfollows:
| Projecttype | Projectname | Installedcapacity(10,000
kilowatts) | Shareholdingratio | | WindPower | ZhanjiangXuwenYangqian | 4.95 | 70% | | WindPower | ZhanjiangXuwenYongshi | 4.95 | 70% | | WindPower | JieyangHuilaiShibeishan | 10.0 | 70% | | WindPower | JieyangHuilaiHaiwanshi | 1.4 | 90% | | WindPower | MaomingDianbaiReshui | 4.95 | 100% | | WindPower | ZhanjiangLeizhouHongxinlou | 4.95 | 94% | | WindPower | ZhanjiangXuwenShibanling | 4.95 | 100% | | WindPower | ZhanjiangXuwenQujie | 4.95 | 100% | | WindPower | WailluoOffshorewindpower | 19.8 | 100% | | WindPower | XuwenWutushanWindPower | 4.95 | 51% | | WindPower | XuwenDengjiaoWindPower | 4.95 | 51% | | WindPower | PingyuanMaoping | 4.8 | 100% | | WindPower | ZhuhaiJinwanOffshorewind
power | 30 | 74.49% | | WindPower | ZhangjiangXuwenWailuoII
Offshorewindpower | 20 | 100% | | WindPower | ZhanjiangXuwenWailuo
Offshorewindpower | 20.35 | 100% | | WindPower | YangjiangShapaoffshoreWind | 30 | 91.41% |
power
| WindPower | GuangxiWuxuan | 5 | 100% | | WindPower | HunanXupuTaiyangshan | 5 | 100% | | WindPower | HunanTongdaoDagaoshan | 5 | 100% | | WindPower | ShanweiPowerPlant
DecentralizedWindPower | 1.08 | 65% | | WindPower | NanxiongZhuanVillage | 4.99 | 100% | | Total | | 197.04 | |
2.AsofJune30,2022,thenewenergyprojectunderconstructionbytheCompanyareasfollows:
| Projecttype | Projectname | Installedcapacity(10,000
kilowatts) | Shareholdingratio | | WindPower | PingyuanSishui | 4 | 100% | | WindPower | YangjiangQingzhouI | 40 | 100% | | WindPower | YangjiangQingzhouII | 60 | 100% | | Photovoltaic | ZhanjiangPotouQiantang | 10 | 100% | | Photovoltaic | ZhangjianPotou | 12 | 90% | | Photovoltaic | XinjiangHanhaiPhotovoltaicproject | 40 | 100% | | Photovoltaic | MujingXipoPhotovoltaicproject | 10 | 100% | | Photovoltaic | MuhongXipuPhotovoltaicproject | 10 | 100% | | Photovoltaic | XinhuiPhotovoltaicproject | 0.92 | 100% | | Photovoltaic | DapuPhotovoltaicproject | 0.18 | 100% | | Photovoltaic | YunheBojiaPhotovoltaicproject | 0.12 | 100% | | Photovoltaic | JinxiuRooftopPhotovoltaicprojectI | 0.339 | 100% | | Photovoltaic | MeizhouWuhuaHuangnizhaiProject | 7 | 100% | | Photovoltaic | ShanxiHongdongProject | 10 | 100% | | Total | | 204.6 | |
II.AnalysisOncoreCompetitiveness
1.ThelargestlistedcompanyofpowerinGuangdong
TheCompany'smainpowergenerationassetsarelocatedinGuangdongProvince,withatotalassetsizeofmorethan117.473billion.ItisthelargestlistedcompanyofpowerinGuangdongProvince.Itistheonlylistedcompanywithover100billionassetscontrolledbystate-ownedholdingsinGuangdongprovince.AsofJune30,2022,Thecompany'scontrollableinstalledcapacityandentrustedmanagedinstalledcapacitytotaled39.287millionkilowatts,accountingfor24%ofthetotalinstalledcapacityofGuangdongProvince.2.Strongbackgroundandresourceadvantages
GuangdongEnergyGroup,thecontrollingshareholderofthecompany,asaprovincialkeyenergyenterprise,hasbeenactivelysupportinglistedcompaniestobecomebetterandstrongerbyusingtheadvantagesofitsresources,technologyandassetscale.AstheonlylistedcompanyandmainforceofGuangdongEnergyGroup,thecompanyhasalwaysbeensubordinatedtoservingtheoverallsituationofthereformanddevelopmentofGuangdongProvinceandGuangdongYudeanGroup.Ithasdeeplycultivatedthemainpowerindustry,activelyplayedthevaluediscoveryfunctionandresourceallocationfunctionofthecapitalmarket,andassistedthereformanddevelopmentofGuangdongProvince'senergyresources.
3.Comprehensiveadvantagesofmainbusiness
Guidedbythenationalenergydevelopmentstrategy,theCompanyisimplementingthe"1+2+3+X"strategy-tobuildafirst-classgreenandlow-carbonpowerlistedcompany,coordinatesafetyanddevelopment,optimizeandstrengthencoal,gasandbiomasspowergenerationservices,andvigorouslydevelopnewenergy,energystorage,hydrogenenergyandlandparkdevelopment.TheCompanyhasabundantprojectreservesandbroaddevelopmentprospects;Withclearmainbusiness,reasonablestructure,outstandingindustrialpositionandmarketshare,ithas
strongcomprehensivestrengthandbroaddevelopmentprospects.
4.Competitiveadvantageinelectricitymarket
Thecompany'sgeneratorsethashighparameters,largecapacity,highoperationefficiency,lowcoalconsumption,stableoperation,superiorenvironmentalprotectionperformanceandstrongmarketcompetitiveadvantage.Inthefirsthalfof2021,thecompanycompletedatotalof46.349billionkilowatt-hoursofelectricityinthemarket,andthescaleofelectricitysalescontinuedtorankfirstintheprovince,withelectricitysalespricessuperiortotheprovince'saverage.Thecompanygivesfullplaytoitsthreeadvantagesofscale,brandandservice.Withitsmarketingservicenetworkallovertheprovinceanditstechnicalaccumulationandcomprehensiveresourcesinthepowerindustry,thecompanyprovidesauxiliaryvalue-addedservicessuchaspeakregulation,frequencymodulationandbackupforthepowergrid,andprovideshigh-qualityvalue-addedservicessuchascomprehensiveenergysavingandpowerconsumptionconsultationforusers,thusrealizingthetransformationfromapowergenerationenterprisetoanenergycomprehensiveserviceenterprise.5.Advantageoffinancialresources
TheCompany'stotalassetsreach100billion,andthecashflowofitsstockbusinessisabundant,whichprovidesagoodsupportfortheCompany'ssustainabledevelopment.TheCompanyhasagoodasset-liabilityratioandrichfinancingchannels,anditcanmakefulluseofinternalandexternalfinancialresources,thusprovidingastrongfinancialguaranteeforitsproductionandoperation,keyprojectconstructionandtherapiddevelopmentofnewenergyindustry.
6.Regionaldevelopmentadvantages
As the main energy sourcein Guangdong Province, the companyshoulders the importanttask ofhelpingGuangdongProvincetobuildaclean,low-carbon,safeandefficientmodernenergysystem.ThecompanywillactivelyintegrateintotheconstructionofGuangdong-HongKong-MacaoGreaterBayArea,Shenzhen'sadvanceddemonstrationzoneandthedevelopmentofGuangdong's"onecore,onebeltandonearea".Itwillsteadilypushforwardtheconstructionofkeyenergyprojectsandthedevelopmentofnewenergyresourcesintheprovinceandactivelyseektoexpandintoregionswithbetterresourceconditionsandhigherpowerdemand,Helpthe"30·60"targettobeimplemented.
III.Mainbusinessanalysis
Foundmorein”I.MainbusinessesoftheCompanyinthereportingperiod”Changesinthefinancialdata
InRMB
| | Thisreportperiod | Sameperiodlast
year | YOY
change
（%） | Causechange | | Operatingincome | 22,611,239,733 | 20,594,038,804 | 9.80% | | | Operatingcost | 23,114,184,606 | 19,228,178,330 | 20.21% | | | Saleexpenses | 30,460,050 | 35,594,988 | -14.43% | | | Administrative
expenses | 477,955,874 | 413,435,343 | 15.61% | | | Financialexpenses | 1,081,057,844 | 624,202,906 | 73.19% | Itismainlyduetothelargedemandfornew
energydevelopmentfunds,andtheimpactof
highcoalpricesoncashflow,causingincrease
oftheCompany'sexternalfinancing. | | Incometax
expenses | -146,480,556 | 160,600,093 | -191.21% | Itismainlyduetotheyear-on-yearlossofthe
Company,theyear-on-yeardecreaseinincome
taxexpensesinthefirsthalfoftheyear,andthe
recognition of deferred income tax assets by
somepowerplants. | | R&DInvestment | 754,240,473 | 124,873,808 | 504% | Itismainlybecausethattheaffiliatedpower
plants of the Company increase R&D
investment, and meanwhile strengthen the
collectionandmanagementofR&Dexpenses,
causing substantial increase of the R&D
expensesyearonyear. | | Cashflow
generatedby
businessoperation,
net | -208,358,510 | 3,786,846,816 | -105.50% | Itismainlybecauseoftheobviousincreaseof
capitalexpenditurerelatedtocoalpurchasedue
tohighcoalprice. | | Netcashflow
generatedby
investment | -2,908,067,376 | -4,246,922,377 | -31.53% | ItismainlybecauseBoheCompanyreceived
the terminal disposal payment this year,
resultinginalargeyear-on-yearincreaseinthe
netcashrecoveredfromthedisposaloffixed
assets, intangible assets and other long-term
assets. | | Netcashflow
generatedby
financing | 5,861,027,285 | 578,363,307 | 913.38% | Itismainlyduetothelargedemandfornew
energydevelopmentfunds,andtheimpactof
highcoalpricesoncashflow,causingincrease
oftheCompany'sexternalfinancing. | | Netincreasingof
cashandcash
equivalents | 2,744,601,884 | 118,287,624 | 2,220.28% | Affectedbyabovethreereasons.. |
MajorchangestotheprofitstructureorsourcesoftheCompanyinthereportingperiod□Applicable√Notapplicable
TheprofitcompositionorsourcesoftheCompanyhaveremainedlargelyunchangedduringthereportperiod.ComponentofBusinessIncome
InRMB
| | Thisreportperiod | | Sameperiodlastyear | | Increase/decrease | | | Amount | Proportion | Amount | Proportion | | | Totaloperating
revenue | 22,611,239,733 | 100% | 20,594,038,804 | 100% | 9.80% | | OnIndustry | | | | | | | Electricpower,
Steamsalesand
laborincome | 22,423,023,603 | 99.17% | 20,336,788,241 | 98.75% | 10.26% | | Other | 188,216,130 | 0.83% | 257,250,563 | 1.25% | -26.84% | | Onproducts | | | | | | | SalesElectric
Power | 22,263,672,844 | 98.46% | 20,226,322,357 | 98.21% | 10.07% | | Flyashsales | 171,920,045 | 0.76% | 241,216,389 | 1.17% | -28.73% | | Thermalsales | 102,972,035 | 0.46% | 71,811,712 | 0.35% | 43.39% | | Other | 72,674,809 | 0.32% | 54,688,346 | 0.27% | 32.89% | | Area | | | | | | | Guangdong | 22,117,126,665 | 97.81% | 20,568,341,641 | 99.88% | 7.53% | | Xinjiang | 400,459,803 | 1.77% | 0 | 0% | 0% | | Hunan | 39,790,974 | 0.18% | 0 | 0% | 0% | | Yunnan | 29,159,946 | 0.13% | 25,697,163 | 0.12% | 13.48% | | Guangxi | 24,702,345 | 0.11% | 0 | 0% | 0% |
(2)SituationofIndustry,ProductandDistrictOccupyingtheCompany’sBusinessIncomeandOperatingProfitwithProfitover10%
√Applicable□Notapplicable
InRMB
| | Turnover | Operationcost | Gross
profit
rate(%) | Increase/decrea
seofrevenuein
thesameperiod
oftheprevious
year(%) | Increase/decrea
seofbusiness
costoverthe
sameperiodof
previousyear
(%) | Increase/decrea
seofgross
profitrateover
thesameperiod
oftheprevious
year(%) | | OnIndustry | | | | | | | | Electricpower,
Steamsalesand
laborincome | 22,423,023,603 | 23,089,561,766 | -2.97% | 10.26% | 20.13% | -8.38% | | OnProducts | | | | | | | | SalesElectric
Power | 22,263,672,844 | 22,945,031,969 | -3.06% | 10.17% | 20.14% | -8.64% | | Including： | | | | | | | | Firecoal
Generation
Power | 17,169,530,056 | 18,730,511,707 | -9.09% | 12.63% | 25.45% | -11.15% | | Gas
Generation
Power | 3,461,327,463 | 3,436,132,473 | 0.73% | -16.60% | -7.74% | -9.53% | | Wind
Generation
Power | 1,394,395,581 | 572,124,201 | 58.97% | 145.85% | 147.64% | -0.30% | | Boomass
Generation
Power | 209,260,940 | 177,800,516 | 15.03% | -12.34% | -2.97% | -8.21% | | Hydroelectric
Generation | 29,158,804 | 28,463,072 | 2.39% | 13.56% | -2.23% | 15.76% | | Area | | | | | | | | Guangdong | 22,117,126,665 | 22,594,635,431 | -2.16% | 7.53% | 10.10% | -2.38% |
Undercircumstancesofadjustmentinreportingperiodforstatisticscopeofmainbusinessdata,adjustedmainbusinessbasedonlatestonyear’sscopeofperiod-end.（未完）
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