粤电力Ｂ：2020年年度报告（英文版）.PDF

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1、Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 1 Guangdong Electric Power Development Co., Ltd. 2020 Annual Report April 2021 Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 2 I. Important Notice, Table of Contents and Definitions The Board of Directors , Supervi

2、sory 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 h

3、ereof. 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

4、directors attending the Meeting for annual report deliberation except for the followed: The name of director who did not attend the meeting in person Positions Reason The name of director who was authorized Wen Lianhe Director Due to business Wang Jin Chen Ze Director Due to business Wang Jin Li Fan

5、gje Director Due to business Zheng Yunpeng Li Baobing Director Due to business Zheng Yunpeng Yan Ming Director Due to business Rao Subo Shen Hongtao Independent director Due to business Sha Qilin This annual report involves the forecasting description such as the future plans, and does not constitut

6、e 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 is mainly engaged in thermal power generation. The business of thermal

7、power generation is greatly affected by factors including electric power demand and fuel price. Refer to Section IX-9 of Chapter 4 of this annual report-situation faced and countermeasures for relevant information. The preplan profit distribution of the Company deliberated and approved by the Board

8、is: Total share of of 5,250,283,986 for Base on the Companys total share capital ,the Company would distribute cash dividend to all the shareholders at the rate of CNY 1.2 for every 10 shares (with tax inclusive)，with 0 bonus shares（including tax）, and not converting capital reserve into share capit

9、al. Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 3 Table of Contents I.Important Notice, Table of contents and Definitions II. Basic Information of the Company and Financial index III. Outline of Company Business IV. Managements Discussion and Analysis V. Important Events VI. Ch

10、ange of share capital and shareholding of Principal Shareholders VII. Situation of the Preferred Shares VIII. Information about convertible corporate bonds IX. Information about Directors, Supervisors and Senior Executives X. Administrative structure XI. Corporate Bond XII. Financial Report XIII. Do

11、cuments available for inspection Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 4 Definition Terms to be defined Refers to Definition Guangdong Energy Group Refers to Guangdong Energy Group Co., Ltd. Guangqian Company Refers to Shenzhen Guangqian Electric Power Co., Ltd. Bohe Comp

12、any Refers to Guangdong Yudean Energy Co., Ltd. (formerly Guangdong Yudean Bohe Coal & Electricity Co., Ltd. renamed on February 25, 2021) Dapu Company Refers to Guangdong Dapu Power Generation Co., Ltd. Wind Power Company Refers to Guangdong Wind Power Co., Ltd. Lincang Company Refers to Lincang Yu

13、dean Energy Co., Ltd. Qujie Wind Power Company Refers to Guangdong Yudean Qujie Wind Power Generation Co., Ltd. Electric Power Sales Company Refers to Guangdong Yudean Electric Power Sales Co., Ltd. Anxin Electric Inspection & Installation Company Refers to Guangdong Yudean Anxin Electric Inspection

14、 & Installation Co., Ltd Tongdao Wind Power Company Refers to Tongdao Yuexin Wind Power Generation Co., Ltd. Zhongyue Compamy Refers to Zhanjiang Zhongyue Energy Co., Ltd. Yuejiang Company Refers to Guangdong Shaoguan Yuejiang Power Generation Co., Ltd. Yongan Natural Gas Company Refers to Guangdong

15、 Yudean Yongan Natural Gas Thermal Power Co., Ltd. Leizhou Wind Power Company Refers to Guangdong Yudean Leizhou Wind Power Generation Co., Ltd. Zhanjiang Company Refers to Zhanjiang Electric Power Co., Ltd. Zhanjiang Wind Power Company Refers to Guangdong Yudean Zhanjiang Wind Power Co., Ltd. Huizh

16、ou Natural Gas Company Refers to Guangdong Huizhou Natural Gas Power Co., Ltd. Maoming Thermal Power Plant Refers to Guangdong Energy Maoming Thermal Power Co., Ltd.（formerly Maoming Zhenneng Thermal Power Co., Ltd. renamed on November 3, 2020) Jinghai Company Refers to Guangdong Yudean Jinghai Powe

17、r Co., Ltd. Red Bay Company Refers to Guangdong Red Bay Power Co., Ltd. Huadu Natural Gas Company Refers to Guangdong Huadu Natural Gas Thermal Power Co., Ltd. Humen Power Company Refers to Guangdong Yudean Humen Power Co., Ltd. Yuejia Company Refers to Guangdong Yuejia Electric Power Co., Ltd. Ping

18、hai Power Plant Refers to Guangdong Hluizhou Pinghai Power Co., Ltd. Pingdian Integrated Energy Company Refers to Huizhou Pingdian Integrated Energy Co., Ltd. Zhencheng Integrated Energy Company Refers to Guangdong Yudean Zhencheng Integrated Energy Co., Ltd. Binhaiwan Energy Company Refers to Guang

19、dong Yudean Binhaiwan Energy Co., Ltd. Dianbai Wind Power Company Refers to Guangdong Yudean Dianbai Wind Power Co., Ltd. Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 5 Yangjiang Wind Power Company Refers to Guangdong Yudean Yangjiang Offshore Wind Power Co., Ltd. Heping Wind Po

20、wer Company Refers to Guangdong Yudean Heping Wind Power Co., Ltd. Pingyuan Wind Power Company Refers to Guangdong Yudean Pingyuan Wind Power Co., Ltd. Zhuhai Wind Power Company Refers to Guangdong Yudean Zhuhai Offshore Wind Power Co., Ltd. Wuxuan Wind Power Company Refers to Guangxi Wuxuan Yudean

21、New Energy Co., Ltd. Xupu Wind Power Company Refers to Hunan Xupu Yuefeng New Energy Co., Ltd. Shibeishan Wind Power Refers to Guangdong Yudean Shibeishan Wind Energy Development Co., Ltd. Huilai Wind Power Company Refers to Huilai Wind Power Generation Co., Ltd. Yudean Industry Fuel Company Refers

22、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 C

23、ompany Refers to Guangdong Yudeann Holdings Western Investment Co., Ltd. Energy Group Finance Company Refers to Guangdong Energy Group Finance Co., Ltd. Guohua Taishan Company Refers to Guangdong Guohua Yudean Taishan Power Generation Co., Ltd. Weixin Energy Co., Ltd. Refers to Yunnan Yuntou Weixin

24、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 S

25、unshine 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 G

26、uangdong Yudean Environmental Protection Co., Ltd Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 6 II. Basic Information of the Company and Financial index I.Company information Stock abbreviation Yue Dian Li A, Yue Dian Li B Stock code： 000539,200539 Stock exchange for listing Sh

27、enzhen Stock Exchange Name in Chinese 广东电力发展股份有限公司 Abbreviation of Registered Company Name in Chinese(If any) 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,

28、No.2 Tianhe Road East, Guangzhou,Guangdong Province Postal code of the Registered Address 510630 Internet Web Site http:/ E-mail .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 Roa

29、d East, Guangzhou,Guangdong Province 36/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 . Information disclosure and placed Newspapers selected by the Company for information disclosure China Sec

30、urities Daily, Securities Times and Hong Kong Commercial Daily(overseas newspaper for English version) Internet website designated by CSRC for publishing the Annual report of the Company http:/ The place where the Annual report is prepared and placed Affair Dept. Of the Board of directors of the Com

31、pany Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 7 .Changes i n Registration Organization Code 91440000617419493W Changes in principal business activities since listing (if any) No change Changes is the controlling shareholder in the past (is any) No change . Other Relevant Inf

32、ormation 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 Wang Bin, Li Yanhua The

33、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 .Summary of Accounting data and Financi

34、al index Indicate by tick mark whether there is any retrospectively restated datum in the table below. Yes No 2020 2019 Changed over last year（） 2018 Operating income（RMB） 28,329,065,391 29,360,155,150 -3.51% 27,408,514,178 Net profit attributable to the shareholders of the listed company（RMB） 1,746

35、,280,132 1,146,767,033 52.28% 474,461,997 Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company（RMB） 1,530,448,193 1,069,396,196 43.11% 412,062,957 Cash flow generated by business operation, net（RMB） 6,280,781,169 8,272,683,112 -24.08% 5,999,936,356

36、 Basic earning per share(RMB/Share) 0.3326 0.2184 52.28% 0.09 Diluted gains per share(RMB/Share) 0.3326 0.2184 52.28% 0.09 Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 8 Net asset earning ratio（%） 6.54% 4.77% 1.77% 2.02% End of 2020 End of 2019 Changed over last year（） End of 20

37、18 Gross assets（RMB） 85,970,818,168 75,472,027,123 13.91% 73,329,662,306 Net assets attributable to shareholders of the listed company（RMB） 27,369,995,422 26,178,241,077 4.55% 24,227,302,288 The lower one of net profit before and after deducting the non-recurring gains/losses in the last three fisca

38、l years is negative, and the audit report of last year shows that the ability to continue operating is uncertain Yes No The lower one of net profit before and after deducting the non-recurring gains/loses is negative Yes No .The differences between domestic and international accounting standards 1 S

39、imultaneously 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 In RMB Net profit attributable to the shareholders of the listed company Net Assets attributabl

40、e to the shareholders of the listed company Amount in the reporting period Amount in the previous period End of the reporting period Beginning of the reporting period According to CAS 1,746,280,132 1,146,767,033 27,369,995,422 26,178,241,077 Items and amount adjusted according to IAS The difference

41、arising from recognition of goodwill after merger of enterprises under the same control -25,984,223 38,638,777 38,638,777 Difference arising from recognition of land use value after enterprise merger -630,000 -630,000 16,340,000 16,970,000 Influence on minority interests 54,120 54,120 4,918,459 4,86

42、4,339 According to IAS 1,745,704,252 1,120,206,930 27,429,892,658 26,238,714,193 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 asset

43、s disclosed in financial report, under either foreign Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 9 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

44、 and IAS. Applicable Not applicable (a) The difference arising from recognition of goodwill after merger of enterprises under the same control and recognition of land value after enterprise merger. As required by new Chinese accounting standards, the goodwill formed by the merger of enterprises unde

45、r the same control shall not be recognized and capital surplus shall be adjusted. Under IFRS, the golldwill formed by the merger of enterprises under the same control shall be recognized and equal to the difference between merger cost and share of fair value of recognizable net assets of the purchas

46、ed party obtained in merger. Meanwhile, all assets of the purchased party obtained in merger shall be accounted for according to their fair value while such assets shall be accounted for according to their book value according to original Chinese accounting standards for business enterprises. Theref

47、ore, this difference will continue to exist. (b) Influence on minority interests Housing reform loss occurred to the Company and some holding subsidiaries. Therefore, theres some influence on minority interests. .Main Financial Index by Quarters In RMB First quarter Second quarter Third quarter Four

48、th quarter Operating income 4,703,863,816 7,836,054,007 8,313,722,282 7,475,425,286 Net profit attributable to the shareholders of the listed company 7,373,105 806,311,390 755,703,910 176,891,727 Net profit after deducting of non-recurring gain/loss attributable to the shareholders of listed company

49、 -372,094 784,914,803 753,661,026 -7,755,542 Net Cash flow generated by business operation 1,170,574,344 2,847,647,553 2,470,190,633 -207,631,361 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

50、 semi-annual report index disclosed by the Company. Yes No .Items and amount of non-current gains and losses Applicable Not applicable In RMB Guangdong Electric Power Development Co., Ltd. 2020 Annual Report 10 Items Amount (2020) Amount (2019) Amount (2018) Notes Non-current asset disposal gain/los