粤高速Ｂ：2021年第一季度报告全文（英文版）.PDF

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1、Guangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 20211Guangdong Provincial Expressway Development Co.，Ltd.The First Quarter Report 2021April2021Guangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 20212I. Important NoticeThe Board of Directors an

2、d the Supervisory Committee of the Company and its directors, supervisors and seniorexecutives should guarantee the reality, accuracy and completion of the quarterly report, there are no any fictitiousstatements, misleading statements or important omissions carried in this report, and shall take leg

3、alresponsibilities, individual and or joint.All of the directors presented the board meeting at which this Quarter Report was examined.Mr.Zheng Renfa, Leader, Mr.Wang Chunhua, General Manager, Mr. Lu Ming, Chief of the accounting work, MsZhou Fang, Chief of the accounting organ (chief of accounting

4、) hereby confirm the authenticity and completenessof the financial report enclosed in this report.II. Basic Information of the Company（1）Main financial data and financial indexIndicate by tick mark whether the Company needs to retroactively restate any of its accounting data.Yes NoRetrospective adju

5、stment or restatement reasonBusiness combination under the same controlThis periodSame period of last yearChanges of thisperiod oversame period oflast year（）Before adjustmentAfter adjustmentAfteradjustmentOperating revenue（Yuan）1,257,975,487.27211,215,592.28354,680,507.03254.68%Net profit attributab

6、le to the shareholdersof the listed company（Yuan）399,100,166.26-70,094,226.94-65,790,927.23706.62%Net profit after deducting ofnon-recurring gain/loss attributable to theshareholders of listed company（Yuan）395,414,595.12-71,989,487.82-71,989,487.82649.27%Net cash generated from /used inoperating act

7、ivities（Yuan）849,020,540.34142,313,822.41163,886,674.37418.05%Basic earning per share(Yuan/Share)0.19-0.03-0.03733.33%Guangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 20213Diluted gains per share(Yuan/Share)0.19-0.03-0.03733.33%Weighted average return on equity（%）4.89%-0

8、.72%-0.63%5.52%End of this periodEnd of last periodChanges of thisperiod-end oversameperiod-end oflast year(%)Before adjustmentAfter adjustmentAfteradjustmentTotal assets（Yuan）19,839,202,045.4819,748,578,658.1119,748,578,658.110.46%Net assets attributable to the shareholdersof the listed company（Yua

9、n）8,378,704,436.237,933,136,499.117,933,136,499.115.62%Items and amount of non-current gains and losses Applicable Not applicableIn RMBItemsAmount (Year-beginning tothe end of the report period.)NotesNon-current asset disposal gain/loss(including the write-off part for whichassets impairment provisi

10、on is made)-112,712.62Government subsidies recognized in current gain and loss(excluding thoseclosely related to the Companys business and granted under the statespolicies)5,965,070.40Net amount of non-operating income and expense except the aforesaid items954,275.16Other non-recurring Gains/loss it

11、ems240,124.51Less :Influenced amount of income tax1,761,727.77Influenced amount of minor shareholdersequity (after tax)1,599,458.54Total3,685,571.14-Explain the reasons if the Company classifies an item as an extraordinary gain/loss according to the definition inthe Explanatory Announcement No.1 on

12、Information Disclosure for Companies Offering Their Securities to thePublic-Extraordinary Gains and Losses, or classifies any extraordinary gain/loss item mentioned in the saidexplanatory announcement as a recurrent gain/loss item.Applicable Not applicableNone of Non-recurring gain /loss items recog

13、nized as recurring gain /loss/items as defined by the informationdisclosure explanatory Announcement No.1- Non recurring gain/loss in the report period.Guangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 20214II. Total Shareholders and Shares Held by Top Ten Shareholders at

14、 the End of the Reporting Period1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recoveredand the Shares Held by Top Ten Common ShareholdersIn sharesTotal number of commonshareholders at the period-end52,475Total preference shareholderswith the voting powerreco

15、vered at the end of thereporting period(if any)0Shares held by the top 10 shareholdersShareholdernameProperties ofshareholderShareproportion %QuantityAmount oftradableshares withConditionalheldPledging or freezingStatus of the sharesQuantityGuangdongCommunication Group Co.,Ltd.State-ownedlegal perso

16、n24.56%513,420,438410,040,696GuangdongHighwayConstructionCo., Ltd,State-ownedlegal person22.30%466,325,020ShangdongExpresswayInvestmentDevelopmentCo., Ltd.State-ownedlegal person9.68%202,429,149Tibet YingyueInvestmentManagementCo., Ltd.State-ownedlegal person4.84%101,214,574GuangdongProvincialFreewa

17、yCo.,Ltd.State-ownedlegal person2.53%52,937,49119,582,228China LifeInsurance Co.,Ltd.DividendPersonaldividend-005L-FH002Other1.96%41,009,355Guangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 20215ShenChina LifeInsurance Co.,Ltd.TraditionalCommoninsuranceproducts-005L-CT001

18、ShenOther1.67%35,003,947Xinyue Co.,Ltd.Overseas legalperson0.63%13,201,086Feng WuchuDomesticnatural personshares0.60%12,648,625Happy LifeInsurance Co.,Ltd.-DividendOther0.56%11,617,747Shares held by the Top 10 Shareholders of Non-restricted sharesShareholdersNamesNumber of the non-restricted shares

19、heldShare typeShare typeQuantityGuangdong HighwayConstruction Co., Ltd,466,325,020RMB Commonshares466,325,020Shangdong ExpresswayInvestment Development Co., Ltd.202,429,149RMB Commonshares202,429,149Guangdong CommunicationGroup Co., Ltd.103,379,742RMB Commonshares103,379,742Tibet Yingyue InvestmentM

20、anagement Co., Ltd.101,214,574RMB Commonshares101,214,574China Life Insurance Co., Ltd.Dividend Personal dividend-005L-FH002 Shen41,009,355RMB Commonshares41,009,355China Life Insurance Co., Ltd.TraditionalCommon insuranceproducts-005L-CT001Shen35,003,947RMB Commonshares35,003,947Guangdong Provincia

21、l FreewayCo.,Ltd.33,355,263RMB Commonshares33,355,263Xinyue Co., Ltd.13,201,086Foreign sharesplaced in domesticexchange13,201,086Guangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 20216Feng Wuchu12,648,625RMB Commonshares10,342,762Foreign sharesplaced in domesticexchange2,

22、305,863Happy Life Insurance Co.,Ltd.-Dividend11,617,747RMB Commonshares11,617,747Related or acting-in-concertparties among shareholders aboveGuangdong Communication Group Co., Ltd. is the parent company of GuangdongHighway Construction Co., Ltd. and Guangdong Provincial Freeway Co.,Ltd. ， It isunkno

23、wn whether there is relationship between other shareholders and whether they arepersons taking concerted action specified in the Regulations on Disclosure of Informationabout Change in Shareholding of Shareholders of Listed Companies.Participation of top 10unconditional common shareshareholders in s

24、ecurities margintrading (if any)NoneWhether top ten common shareholders or top ten common shareholders with un-restrict shares held have abuy-back agreement dealing in reporting period. Yes NoThe top ten common shareholders or top ten common shareholders with un-restrict shares held of the Companyha

25、ve no buy back agreement dealing in reporting period.2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end ofthe report periodApplicable Not applicableGuangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 20217III Significant Ev

26、entsI. Major changes of main accounting statement items and financial indicators in the reporting period, as well asreasons for the changesApplicable Not applicable（I）Items of balance sheet as compared with the beginning of this year.1. Other payables decreased by 1,237.36 million yuan and 81.80% fr

27、om the beginning of the Year, which wasmainly due to the agreement between Guangdong Provincial Expressway Development Co., Ltd andGuangdong Provincial Freeway Co.,Ltd. on the payment of cash to purchase 21% of the shares ofGuangdong Guanghui Expressway Co., Ltd, the Company paid the second phase of

28、 equity transfer amount toGuangdong Provincial Freeway Co.,Ltd.2. Non-current liabilities due within one yearIt decreased by 93.15 million yuan from the beginning of the year, or a decrease of 34.97%, which wasmainly due to the combined effects of the Companys repayment of due loans and the reclassi

29、fication ofsubjects.(II) Items of income statement as compared with the same period of the previous year1. Operating incomeIt increased by 903.29 million yuan over the same period last year, or an increase of 254.68%. Thereinto, thetoll income of the Fokai Expressway, the Guangzhu Section of the Jin

30、gzhu Expressway, the GuangfoExpressway, and the Guanghui Expressway increased YOY, which was mainly due to: in 2020, affected bythe new coronavirus epidemic, the state issued relevant policies: the original toll-free period during thestatutory Spring Festival holiday (January 24-January 30) was exte

31、nded to February 8 and from 0:00 onFebruary 17, 2020 to 24:00 on May 5, 2020, vehicle tolls on national toll roads were exempted. In the firstquarter of 2021, the number of toll days of the above-said highways was increased by 52 days compared tolast year.2. Operating costsIt increased by 127.35 mil

32、lion yuan over the same period last year, an increase of 38.99%, which was mainlydue to the increase in road property depreciation as the increase in toll income.3. Investment incomeIt increased by 52.77 million yuan over the same period of the previous year, an increase of 3,857.59%,which was mainl

33、y due to the increase in the number of expressway toll days in the first quarter of 2021Guangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 20218increased by 52 days compared with the same period last year, and the profit of the Companys equityparticipating expressway compa

34、nies increased.4. Income tax expensesIt increased by 189.18 million yuan over the same period last year, an increase of 1,331.81%, which wasmainly due to the total profit of each highway section company had increased.5. Net profit attributable to owners of the parent companyIt increased by 464.89 mi

35、llion yuan over the same period last year, an increase of 706.62%, which wasmainly due to the combined effects of the above factors.(III) Notes of main items of cash flow statement1. Cash received from the sale of goods and the provision of labor servicesIt increased by 828.09 million yuan in the cu

36、rrent period , an increase of 205.31% YOY, which was mainlydue to the YOY increase in toll revenue in the current period.2. Other cash related to operating activities receivedIt decreased by 42.97 million yuan or a decrease of 48.55% YOY in the current period, which was mainlydue to: Fokai Branch, G

37、uangfo Expressway Co., Ltd, Jingzhu Expressway Guangzhu Section Company andGuangdong Guanghui Expressway Co., Ltd received the 55.85 million yuan in subsidies from provincial tollstationsabolishment.3. Various taxes and fees paidIt increased by 55.93 million yuan in the current period, an increase o

38、f 35.22% YOY, which was mainly dueto the increase in various taxes and fees payable as the increase in toll income.4. Cash received from investment recoveryIt increased by 20 million yuan in the current period, an increase of 800.00% YOY, which was mainly due tothe receipt of capital reduction funds

39、 from the Ganzhou Gankang Expressway Co., Ltd- a share-participatingsubsidiary of the Company.5. Cash received from investment incomeIt decreased by 5.2 million yuan in the current period, a decrease of 77.62% YOY, as the cash dividendreceived by the Company during the current period decreased YOY.6

40、. Cash paid for the purchase and construction of fixed assets, intangible assets and other long-term assetsIt decreased by 66.16 million yuan in the current period, a decrease of 38.18% YOY, which was mainly dueto:The reconstruction and expansion project of the south section of Fokai expressway has

41、been opened to trafficGuangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 20219and turned into fixed assets; and the pavement treatment project of Guangzhu section has been basicallycompleted. The progress payment of the project in this period has been reduced.7. Cash paid

42、for debt repaymentIt decreased by 402.57 million yuan in the current period, a decrease of 64.40% YOY, The main reasons are:the parent company paid back 375 million yuan of the Pacific bond guarantee fund in the same period of last year.8. Cash paid for the distribution of dividends, profits or inte

43、rest paymentsIt increased by 155.8 million yuan in the current period, an increase of 133.32% YOY, which was mainly dueto the impact of the epidemic in the same period of last year, the bank agreed to postpone the interest paymentuntil the end of the year, and the interest payment in the current per

44、iod increased year on year.9. Other cash paid related to financing activitiesIt increased by 1,221.87 million yuan in the current period, an increase of 162,915.49% YOY, which wasmainly due to the Agreement between Guangdong Provincial Expressway Development Co., Ltd and GuangdongProvincial Expressw

45、ay Co., Ltd on the payment of cash to purchase 21% of the shares of Guangdong GuanghuiExpressway Co., Ltd., the Company paid the second phase of equity transfer amount to Guangdong ProvincialFreeway Co.,Ltd. in January.II. The progress of significant events and influence, as well as the analysis and

46、 explanation on resolvingproposal.Applicable Not applicableProgress in the implementation of share repurchaseApplicable Not applicableProgress in the implementation of the reduction of the repurchased shares by means of centralized biddingApplicable Not applicableIII. Commitments finished in impleme

47、ntation by the Company, shareholders, actual controller, acquirer,directors, supervisors, senior executives or other related parties in the reporting period and commitmentsunfinished in implementation at the end of the reporting periodApplicable Not applicableThe company has no commitments completed

48、 in period and those without completed till lend of the period fromactual controller, shareholders, related parties, purchaser and companies.Guangdong Provincial Expressway Development Co., Ltd.The First Quarter Report 202110IV. Financial asset investment1. Investment in securitiesApplicable Not app

49、licableIn RMBSecuritycategorySecuritycodeStockAbbreviation:Initial investmentcostModeofaccountingmeasurementBook valuebalance at thebeginning ofthe reportingperiodChanges infair value ofthethisperiodCumulative fairvalue changes inequityPurchaseamountin thethisperiodSaleamountin thethisperiodGain/los

50、s of thereporting periodBook valuebalance at theend of thereporting periodAccounting itemsSource ofthesharesDomesticand foreignstocks601818ChinaEverbrightBank517,560,876.80FVM938,667,226.560.00442,279,294.720.000.000.00959,840,171.52Investmentin otherequityinstrumentsSelffundTotal517,560,876.80-938,