Guangdong Electric Power Development Co., Ltd. 2015 Annual Report Stock Code: 000539、200539 Stock Abbreviation: Yue Dian Li A、Yue Dian Li B Bond Code:112162.SZ Bond short name: 12 Yudean Bond Guangdong Electric Power Development Co., Ltd. 2015 Annual Report April 2016 1 Guangdong Electric Power Development Co., Ltd. 2015 Annual Report 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.Li Zhuoxian, The Company leader, Mr. Li Xiaoqing, Chief financial officer and the Mr.Qin Jingdong, 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. All the directors attended the board meeting for reviewing the Annual Report except the follows: The name of director who did The name of director who was Positions Reason not attend the meeting in person authorized Zhong Weimin director due to business Hong Rongkun Yang Xinli director due to business Yao Jiheng Zhang Xueqiu director due to business Liu Tao 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. The investors should pay attention to the investment risks. The Company is mainly engaged in thermal power generation. The business of thermal power generation is greatly affected by factors including electric power demand and fuel price. Refer to Section IX(4) 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 is: Total share of of 5,250,283,986 for Base on the Company‘s total share capital ,the Company would distribute cash dividend to all t he shareholders at the rate of CNY 2.3for every 10 shares (with tax inclusive) ,with 0 bonus shares （including tax）, and not converting capital reserve into share capital. IF THERE IS ANY CONFLICT BETWEEN THE CHINESE VERSION AND ITS ENGLISH TRANSLATION, THE CHINESE VERSION WILL PREVAIL. 2 Guangdong Electric Power Development Co., Ltd. 2015 Annual Report 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. Management’s Discussion and Analysis V. Important Events VI. Change of share capital and shareholding of Principal Shareholders VII. Situation of the Preferred Shares VIII. Information about Directors, Supervisors and Senior Executives IX. Administrative structure X. Financial Report XI. Documents available for inspection 3 Guangdong Electric Power Development Co., Ltd. 2015 Annual Report Definition Terms to be defined Refers to Definition Yudean Group Refers to Guangdong Yudean Group Co., Ltd. Zhanjiang Company 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. Zhanjiang Wind Power Company Refers to Guangdong Yudean Zhanjiang Wind Power Co., Ltd. Zhongyue Compamy Refers to Zhanjiang Zhongyue Energy Co., Ltd. Bohe Company Refers to Guangdong Yudean Bohe Coal & Electricity Co., Ltd Guangqian Company Refers to Shenzhen Guangqian Electric Power Co., Ltd. Huihou Natural Gas Company Refers to Guangdong Huizhou Natural Gas Power Co., Ltd. Shibeishan Wind Power Company Refers to Guangdong Shibeishan Wind Power Development Co., ltd. Red Bay Company Refers to Guangdong Red Bay Power Co., Ltd. Pinghai Power Plant Refers to Guangdong Hluizhou Pinghai Power Co., Ltd. Humen Power Company Refers to Guangdong Yudean Humen Power Co., Ltd. Anxin Electric Inspection & Installation Guangdong Yudean Anxin Electric Inspection & Installation Refers to Company Co., Ltd Guangdong Guohua Yudean Taishan Power Generation Co., Guohua Taishan Refers to Ltd. Yudean Industry Fuel Company Refers to Guangdong Power Industry Fuel Co., Ltd. Huadu Natural Gas Company Refers to Guangdong Huadu Natural GasT Thermal Power Co., Ltd. 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 Yudean 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. Weixin Yuntou Refers to Weixin Yuntou Yudean Zhaxi Energy Co., Ltd. Binlangjiang Company Refers to Yunnan Baoshan Binlangjiang Hydroelectricity Development Co., Ltd. 4 Guangdong Electric Power Development Co., Ltd. 2015 Annual Report 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： 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(If 粤电力 any) English name (If any) GUANGDONG ELECTRIC POWER DEVELOPMENT CO.,LTD English abbreviation (If any) GED Legal Representative Li Zhuoxian Registered address 23-26/F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province Postal code of the Registered 510630 Address Office Address 23-26/F, South Tower, Yudean Plaza, No.2 Tianhe Road East, Guangzhou,Guangdong Province Postal code of the office 510630 address Internet Web Site http://www.ged.com.cn E-mail [email protected] Ⅱ.Contact person and contact manner Board secretary Securities affairs Representative Name Liu Wei Zhang Shaomin 26/F, South Tower, Yudean Plaza, No.2 26/F, South Tower, Yudean Plaza, No.2 Contact address Tianhe Road East, Guangzhou,Guangdong Tianhe Road East, Guangzhou,Guangdong Province Province Tel (020)87570276 (020)87570251 Fax (020)85138084 (020)85138084 E-mail [email protected] [email protected] 5 Guangdong Electric Power Development Co., Ltd. 2015 Annual Report Ⅲ. Information disclosure and placed Newspapers selected by the Company for information China Securities Daily, Securities Times and Hong Kong Commercial disclosure Daily(overseas newspaper for English version) Internet website designated by CSRC for publishing http://www.cninfo.com.cn the Annual report of the Company The place where the Annual report is prepared and Affair Dept. Of the Board of directors of the Company placed Ⅳ.Changes in Registration Organization Code 61741949-3 Changes in principal business activities No change since listing (if any) Changes is the controlling shareholder in No change the past (is any) Ⅴ. Other Relevant Information CPAs engaged Name of the CPAs KPMG Huazhen(SGP) Office address 8/F, Bimawei tower, Orientl Plaza 1 East Chang An Avenue Beijing Names of the Certified Public Peng Jing, Chen Lijia Accountants as the signatories 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 Ⅵ.Summary of Accounting data and Financial index May the Company make retroactive adjustment or restatement of the accounting data of the previous years due to change of the accounting policy and correction of accounting errors. □ Yes √ No Changed over last year 2015 2014 2013 （％） Operating Gross income（RMB） 25,723,810,816.00 29,046,568,685.00 -11.44% 30,830,757,337.00 Net profit attributable to the shareholders of the listed company 3,237,733,312.00 3,003,977,134.00 7.78% 3,086,428,618.00 （RMB） 6 Guangdong Electric Power Development Co., Ltd. 2015 Annual Report Net profit after deducting of non-recurring gain/loss attributable 2,953,985,089.00 3,113,672,193.00 -5.13% 3,199,745,325.00 to the shareholders of listed company（RMB） Cash flow generated by business 10,442,437,145.00 8,392,794,644.00 24.42% 9,709,896,440.00 operation, net（RMB） Basic earning per 0.62 0.57 8.77% 0.59 share(RMB/Share) Diluted gains per 0.62 0.57 8.77% 0.59 share(RMB/Share)(RMB/Share) Net asset earning ratio（%） 14.42% 14.94% -0.52% 17.49% End of Changed over last year End of 2015 End of 2013 2014 （％） Gross assets（RMB） 71,919,934,143.00 69,084,825,852.00 4.10% 67,918,719,035.00 Net assets attributable to shareholders of the listed company 23,754,596,981.00 21,310,054,597.00 11.47% 19,054,914,050.00 （RMB） Ⅶ.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 In RMB Net profit attributable to the shareholders Net Assets attributable to the of the listed company shareholders of the listed company Amount in the Amount in the End of the reporting Beginning of the reporting period previous period period reporting period According to CAS 3,237,733,312.00 3,003,977,134.00 23,754,596,981.00 21,310,054,597.00 Items and amount adjusted according to IAS The difference arising from recognition of goodwill after 0 0 64,623,000.00 64,623,000.00 merger of enterprises under the same control Difference arising from recognition of land use value -630,000.00 -630,000.00 19,490,000.00 20,120,000.00 after enterprise merger Influence on minority interests 54,120.00 54,120.00 4,647,859.00 4,593,739.00 7 Guangdong Electric Power Development Co., Ltd.