Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Guangdong Provincial Expressway Development Co.，Ltd.
The First Quarterly Report 2018
April 2018
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
I. Important Notice
The Board of Directors and the Supervisory Committee of the Company and its directors, supervisors and senior
executives should guarantee the reality, accuracy and completion of the quarterly report, there are no any fictitious
statements, misleading statements or important omissions carried in this report, and shall take legal
responsibilities, individual and or joint.
All of the directors presented the board meeting at which this Quarterly Report was examined.
Mr.Zheng Renfa, Leader, Mr.Wang Chunhua, General Manager, Mr. Fang Zhi, Chief of the accounting work,
Ms.Zhou Fang, Chief of the accounting organ (chief of accounting ) hereby confirm the authenticity and
completeness of the financial report enclosed in this report.
II. Basic Information of the Company
（1）Main financial data and financial index
Indicate by tick mark whether the Company needs to retroactively restate any of its accounting data.
□ Yes √ No
Changes of this period over
This period Same period of last year same period of last year
（％）
Operating income（Yuan） 743,043,761.26 708,861,624.37 4.82%
Net profit attributable to the shareholders
341,598,430.84 286,719,172.39 19.14%
of the listed company（Yuan）
Net profit after deducting of non-recurring
gain/loss attributable to the shareholders of 341,067,803.01 286,448,939.47 19.07%
listed company（Yuan）
Cash flow generated by business operation,
332,977,529.61 479,844,717.92 -30.61%
net（Yuan）
Basic earning per share(Yuan/Share) 0.16 0.140 14.29%
Diluted gains per share(Yuan/Share) 0.16 0.140 14.29%
Weighted average return on equity
3.71% 3.39% 0.32%
（%）
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Changes of this period-end
End of this period End of last period over same period-end of last
year(%)
Gross assets（Yuan） 16,869,720,728.07 16,523,315,093.72 2.10%
Net assets attributable to the shareholders
9,364,982,895.08 9,023,071,118.45 3.79%
of the listed company（Yuan）
Items and amount of non-current gains and losses
√ Applicable □ Not applicable
In RMB
Changes of this period-end over
End of this period End of last period
same period-end of last year(%)
Non-current asset disposal gain/loss(including the write-off part
-156,447.55 Loss of disposal of fixed assets
for which assets impairment provision is made)
Mainly for claim income and
Other non-business income and expenditures other than the above 803,332.94 highway land compensation
income
Less: Amount of influence of income tax 66,432.89
Amount of influence of minority interests(after tax) 49,824.67
Total 530,627.83 --
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
None of Non-recurring gain /loss items recognized as recurring gain /loss/items as defined by the information
disclosure explanatory Announcement No.1- Non –recurring gain/loss in the report period.
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
II. Total Shareholders and Shares Held by Top Ten Shareholders at the End of the Reporting Period
1. About Total Common Shareholders, Total Preference Shareholders with the Voting Power Recovered and the
Shares Held by Top Ten Common Shareholders
In shares
Total preference shareholders
Total number of common with the voting power
64,189
shareholders at the period-end recovered at the end of the
reporting period(if any)
Shares held by the top 10 shareholders
Amount of Pledging or freezing
Properties of Share proportion tradable shares
Shareholder name Quantity Status of the
shareholder % with Conditional Quantity
shares
held
Guangdong
State-owned legal
Communication 24.55% 513,382,595 410,002,853
person
Group Co., Ltd.
Guangdong
Highway State-owned legal
22.30% 466,325,020 466,325,020
Construction Co., person
Ltd,
Yadong Fuxing Domestic non
Yalian Investment State-owned 9.68% 202,429,149 202,429,149
Co., Ltd. Legal person
Tibet Yingyue
Domestic non
Investment
State-owned 4.84% 101,214,574 101,214,574
Management Co.,
Legal person
Ltd.
Guangdong
State-owned legal
Expressway Co., 2.53% 52,937,491 52,937,491
person
Ltd.
Guangfa Domestic non
Securities Co., State-owned 1.45% 30,364,372 30,364,372
Ltd. Legal person
Domestic natural
Feng Wuchu 1.01% 21,194,288
person shares
Overseas legal
Xinyue Co., Ltd. 0.63% 13,201,086
person
PRUSIK
Overseas legal
UMBRELLA 0.62% 12,999,871
person
UCITS FUND
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
PLC
MATTHEWS
CHINA Overseas legal
0.52% 10,883,457
DIVIDEND person
FUND
Shares held by the Top 10 Shareholders of Non-restricted shares
Share type
Shareholders’ Names Number of the non-restricted shares held
Share type Quantity
Guangdong Communication Group RMB Common
103,379,742 103,379,742
Co., Ltd. shares
RMB Common
19,454,390
shares
Foreign shares
Feng Wuchu 21,194,288
placed in
1,739,898
domestic
exchange
Foreign shares
placed in
Xinyue Co., Ltd. 13,201,086 13,201,086
domestic
exchange
Foreign shares
PRUSIK UMBRELLA UCITS placed in
12,999,871 12,999,871
FUND PLC domestic
exchange
Foreign shares
MATTHEWS CHINA DIVIDEND placed in
10,883,457 10,883,457
FUND domestic
exchange
Agricultural Bank of China－
Jingshun Great Wall Energy RMB Common
10,825,598 10,825,598
Infrastructure Mixed Securities shares
Investment Fund
Khazanah Nasional Berhad－Self RMB Common
10,522,779 10,522,779
fund shares
Foreign shares
placed in
PERSHING LLC 8,239,733 8,239,733
domestic
exchange
Yongan Guofu Asset Management RMB Common
7,255,301 7,255,301
Co., Ltd.－Yongan Guofu－ shares
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Yongfu No.10 Private Securities
Investment Fund
Foreign shares
placed in
UBS AG LONDON BRANCH 6,697,940 6,697,940
domestic
exchange
Guangdong Communication Group Co., Ltd. is the parent company of Guangdong Highway
Explanation on associated Construction Co., Ltd, Guangdong Expressway Co., Ltd. and Xinyue Co., Ltd.. It is unknown
relationship or concerted action of whether there is relationship between other shareholders and whether they are persons taking
the above shareholders concerted action specified in the Regulations on Disclosure of Information about Change in
Shareholding of Shareholders of Listed Companies.
Participation of top 10 unconditional
common share shareholders in Nil
securities margin trading (if any)
Whether top ten common shareholders or top ten common shareholders with un-restrict shares held have a
buy-back agreement dealing in reporting period.
□ Yes √ No
The top ten common shareholders or top ten common shareholders with un-restrict shares held of the Company
have no buy –back agreement dealing in reporting period.
2.Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end of the
report period
□ Applicable √Not applicable
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
III Significant Events
I. Major changes of main accounting statement items and financial indicators in the reporting period, as well as
reasons for the changes
√ Applicable □ Not applicable
（I）Items of balance sheet as compared with the beginning of this year.
1.Monetary capital Increased by RMB 357.54 million and 15.13% over the beginning of the year, mainly due to
net cash inflow of RMB 332.98 million from operating activities, net cash inflow of RMB 150,000 from investing
activities and net cash outflow of RMB24.42 million from financing activities.
2.Construction in process increased by RMB 209.59 million and 58.86% over the beginning of the year, mainly
due to the construction costs of the expansion project of the Sanbao-Shuikou section of the Fokai Expressway.
3. Advance receipts increased by RMB 98.51 million and 663.06% over the beginning of the year, mainly due to
Jingzhu Expressway Guangzhu Section Co., Ltd. received the first compensation of RMB 100 million for the
4.213 km expressway of Zhuhai section of the Guangzhou-Macau high-speed highway transferred from the
Zhuhai High-tech Zone Management Committee on January 31, 2018, due to the fact that this matter has not yet
been completed. No profit or loss is recognized for the time being.
4. Taxes payable decreased by RMB165.94 million and 38.71% over the beginning of the year, Mainly due to the
subsidiary's payment of income tax at the end of last year.
5.Other account payable increased by RMB136.68 million and 157.71% over the beginning of the year, The main
reason is that the company borrowed from the participating company for less than one year to entrust loans.
6.Non-current liabilities due 1 year increased by RMB 526.27 million and 43.19% over the beginning of the year,
This is the combined effect of the reclassification of the long-term borrowings of RMB 575 million to this subject
and the repayment of borrowings due at the time of RMB 48.73 million.
(II) Items of income statement as compared with the same period of the previous year
1.Operating income increased by RMB 34.18 million and 4.82% year on year, It is mainly due to the natural
increase in traffic volume that leads to an increase in toll revenue.
2. Operating cost decreased by RMB17.87 million and 6.59% year on year, The main reason for the decrease：(1)
Guangfo Expressway Co., Ltd. Due to the expiration of the original cooperation period, the Guangzhou-Foshan
Expressway has fully depreciated in February 2017, a year-on-year decrease of RMB 26.01 million; (2) Due to the
natural increase in traffic, Fokai Expressway and Beijing The depreciation of Zhuhai Expressway Guangzhu East
Section increased year-on-year.
3. Financial expenses decreased by RMB 11.27 million and 16.47% year on year，This is mainly due to the
combined effect of the repayment of interest-bearing debt and the increase in interest income from bank deposits
during the current period.
4. Investment income Increased by RMB5.54 million and5.68% year on year，The main reason for the increase：
In the current period, the company added new equity company Guoyuan Securities Co., Ltd., and confirmed the
investment income according to the proportion of shares held.
5.Income tax expenses increased by RMB 6.47million and 6.75% year on year, Mainly due to the increase in total
profit of Fokai Branch, Guangfo Expressway Co., Ltd. and Jingzhu Expressway Guangzhu Section Co., Ltd.
6.The net profit for the owners of the parent company increased by RMB 54.88 million and 19.14% year on year
due to the combined influence of the above factors.
(III) Notes of main items of cash flow statement
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
1.Cash received from sales of goods or rending of services increased by RMB 80.56 million and 12.31% year
on year, Mainly due to the increase in toll revenue.
2. Other cash received from business operation decreased by RMB 26.03 million and -75.10% year on year,
Mainly due to the reduction of high-speed interconnection charges for each of the controlled sections to be split.
3. Cash paid for purchasing of merchandise and services increased by RMB 29.25million and 79.76% year on year,
This was mainly due to the year-on-year increase in project payments paid by Fokai Branch, Guangfo Expressway
Co., Ltd. and Jingzhu Expressway Guangzhu Section.
4. Taxes paid increased by RMB 172.55 million and 198.87% year on year, It is mainly due to the subsidiary's
payment of income tax at the end of last year.
5. Cash received from investment retrieving increased by RMB 24.72 million and 44.01% year on year, The
company received cash dividends from participating companies in the current period.
6. Net cash retrieved from disposal of fixed assets, intangible assets, and other long-term assets increased by RMB
100.33 million year on year, mainly due to the first compensation payment for the 4.213km expressway in the
Zhuhai section of the Guangzhou-Macao high-speed Zhuhai section transferred by the Zhuhai High-tech Zone
Management Committee on January 31, 2018, on the Jingzhu Expressway Guangzhu section Co., Ltd. 100 million
yuan.
7. Cash paid for construction of fixed assets, intangible assets and other long-term assets increased by 67.34
million and 59,21% year on year, Mainly due to the payment for the expansion and expansion of the
Sanbao-Shuikou section of the Fokai Expressway paid by the Fokai Expressway was increased.
8. Cash to repay debts decreased by RMB 191.27 million and 38.33% year on year, The reason is that the
repayment of borrowings during the period decreased year-on-year.
II. The progress of significant events and influence, as well as the analysis and explanation on resolving
proposal.
□ Applicable √ Not applicable
III. Commitments finished in implementation by the Company, shareholders, actual controller, acquirer,
directors, supervisors, senior executives or other related parties in the reporting period and commitments
unfinished in implementation at the end of the reporting period
□ Applicable √ Not applicable
The company has no commitments completed in period and those without completed till lend of the period from
actual controller, shareholders, related parties, purchaser and companies.
IV．Prediction of Business performance for January- June 2018
Estimation of accumulative net profit from the beginning of the year to the end of next report period to be loss
probably or the warning of its material change compared with the corresponding period of the last year and
explanation of reason.
□ Applicable √ Not applicable
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
V. Investment in securities
√ Applicable □Not applicable
Shareho
lding
Number of Shareholdi
proporti Number of
shares held ng Gain. loss
on at the shares held Book balance at
Initial at the proportion of the Account Source
Security Security Short form beginnin at the end of the end of the
investment beginning of at the end reporting ing of the
category code of security g of the the reporting reporting period
cost(Yuan) the reporting of the period items shares
reportin period (Yuan)
period(share reporting (Yuan)
g (shares)
s) period(%)
period(
%)
Financia
China Subscrib
l assets
Stock 601818 Everbright 517,560,876.80 235,254,944 0.45% 235,254,944 0.45% 959,840,171.52 e on
available
Bank
for sale
Total 517,560,876.80 235,254,944 -- 235,254,944 -- 959,840,171.52 0.00 -- --
Disclosure date for the notice of
July 22,2009
approval by the Board (If any)
Disclosure date for the notice of
approval by shareholders’ August 7, 2008
Meeting (If any)
VI. Investment in derivatives
□ Applicable √Not applicable
The Company had no derivatives investment in Period.
VI. Investments in derivatives
□ Applicable √ Not applicable
There is no derivative investment during the report period.
VII. The registration form of acceptance of investigation, communication and interview in the report period for
future reference
□ Applicable √ Not applicable
The Period has no research, communication and written inquiry from the investors in the report period.
VIII. Outward Guarantee against the Regulations
□ Applicable √Not applicable
The Company has no external guarantee get out of the line in the Period
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
IX. Controlling shareholder and its related parties occupying non-business capital of the listed company
□ Applicable √Not applicable
There are no controlling shareholder and its related parties occupying non-business capital of the listed company
in Period
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
IV. Financial Statement
I. Financial statement
1. Consolidated balance sheet
Prepared by：Guangdong Provincial Expressway Development Co., Ltd.
March 31,2018
In RMB
Items Year-end balance Year-beginning balance
Current asset：
Monetary fund 2,720,583,786.78 2,363,042,700.42
Settlement provision
Outgoing call loan
Financial assets measured at fair
value with variations accounted into
current income account
Derivative financial assets
Notes receivable
Account receivable 103,251,150.46 92,642,625.45
Prepayments 3,595,779.88 4,451,901.75
Insurance receivable
Reinsurance receivable
Provisions of Reinsurance contracts
receivable
Interest receivable
Dividend receivable
Other account receivable 16,557,843.22 15,415,512.07
Repurchasing of financial assets
Inventories
Assets held for sales
Non-current asset due in 1 year 51,745.32 55,669.14
Other current asset 76,576.08
Total of current assets 2,844,040,305.66 2,475,684,984.91
Non-current assets：
Loans and payment on other’s behalf
disbursed
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Year-end balance Year-beginning balance
Disposable financial asset 1,758,415,273.25 1,751,357,624.93
Expired investment in possess
Long-term receivable
Long term share equity investment 3,064,411,437.16 3,047,275,000.00
Property investment 2,639,704.33 2,755,757.68
Fixed assets 8,311,823,076.68 8,505,434,890.71
Construction in progress 565,655,181.74 356,062,655.95
Engineering material 1,549,556.00 1,549,556.00
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 6,401,576.56 7,096,435.17
R & D petrol
Goodwill
Long-germ expenses to be amortized 64,938.13 92,768.83
Deferred income tax asset 304,423,036.36 335,299,025.28
Other non-current asset 10,296,642.20 40,706,394.26
Total of non-current assets 14,025,680,422.41 14,047,630,108.81
Total of assets 16,869,720,728.07 16,523,315,093.72
Current liabilities
Short-term loans
Loan from Central Bank
Deposit received and hold for others
Call loan received
Financial liabilities measured at fair
value with variations accounted into
current income account
Derivative financial liabilities
Notes payable
Account payable 207,558,883.13 266,934,026.99
Advance payment 113,361,466.92 14,856,113.90
Selling of repurchased financial assets
Fees and commissions receivable
Employees’ wage payable 15,115,289.04 11,334,182.16
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Year-end balance Year-beginning balance
Tax payable 262,706,671.84 428,647,394.29
Interest payable 8,657,248.94 8,494,355.93
Dividend payable 14,340,792.20 26,840,792.20
Other account payable 223,342,155.59 86,663,237.94
Reinsurance fee payable
Insurance contract provision
Entrusted trading of securities
Entrusted selling of securities
Liabilities held for sales
Non-current liability due in 1 year 1,744,880,000.00 1,218,610,000.00
Other current liability
Total of current liability 2,589,962,507.66 2,062,380,103.41
Non-current liabilities：
Long-term loan 4,169,170,000.00 4,744,170,000.00
Bond payable
Including：preferred stock
Sustainable debt
Long-term payable 2,022,210.11 2,022,210.11
Long-term payable employees’s
remuneration
Special payable
Expected liabilities
Deferred income
Deferred income tax liability 259,064,154.39 260,632,098.75
Other non-current liabilities
Total non-current liabilities 4,430,256,364.50 5,006,824,308.86
Total of liability 7,020,218,872.16 7,069,204,412.27
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instrument
Including：preferred stock
Sustainable debt
Capital reserves 2,510,069,749.76 2,510,069,749.76
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Year-end balance Year-beginning balance
Less：Shares in stock
Other comprehensive income 327,577,169.96 327,263,824.17
Special reserves
Surplus reserves 544,821,130.03 544,821,130.03
Common risk provision
Undistributed profit 3,891,708,719.33 3,550,110,288.49
Total of owner’s equity belong to the
9,364,982,895.08 9,023,071,118.45
parent company
Minority shareholders’ equity 484,518,960.83 431,039,563.00
Total of owners’ equity 9,849,501,855.91 9,454,110,681.45
Total of liabilities and owners’ equity 16,869,720,728.07 16,523,315,093.72
Legal Representative: Zheng Renfa General Manager : Wang Chunhua
Person in charge of accounting：Fang Zhi Accounting Dept Leader: Zhou Fang
2.Parent Company Balance Sheet
In RMB
Items Year-end balance Year-beginning balance
Current asset：
Monetary fund 2,665,413,582.73 2,130,475,892.67
Financial assets measured at fair value
with variations accounted into current
income account
Derivative financial assets
Notes receivable
Account receivable 30,975,034.78 19,001,899.29
Prepayments 638,942.50 1,520,014.23
Interest receivable 18,796,157.27 2,070,385.95
Dividend receivable 10,000,000.00
Other account receivable 6,212,970.00 5,298,202.17
Inventories
Assets held for sales
Non-current asset due in 1 year 80,000,000.00 80,000,000.00
Other current asset
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Year-end balance Year-beginning balance
Total of current assets 2,802,036,687.28 2,248,366,394.31
Non-current assets：
Disposable financial asset 1,758,415,273.25 1,751,357,624.93
Expired investment in possess
Long-term receivable
Long term share equity investment 8,234,073,656.82 8,216,937,219.66
Property investment 2,387,566.08 2,503,619.43
Fixed assets 5,653,467,334.44 5,784,192,105.58
Construction in progress 563,451,395.74 353,858,869.95
Engineering material
Fixed asset disposal
Production physical assets
Gas & petrol
Intangible assets 2,553,641.08 2,856,323.67
R & D petrol
Goodwill
Long-germ expenses to be amortized
Deferred income tax asset 304,197,849.13 335,050,091.31
Other non-current asset 797,651,570.35 827,775,329.66
Total of non-current assets 17,316,198,286.89 17,274,531,184.19
Total of assets 20,118,234,974.17 19,522,897,578.50
Current liabilities
Short-term loans
Financial liabilities measured at fair
value with variations accounted into
current income account
Derivative financial liabilities
Notes payable
Account payable 173,725,291.52 200,070,986.17
Advance payment
Employees’ wage payable 4,217,157.25 5,419,848.48
Tax payable 3,886,010.96 12,893,797.03
Interest payable 8,064,807.28 7,901,914.26
Dividend payable 14,340,792.20 14,340,792.20
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Year-end balance Year-beginning balance
Other account payable 4,642,942,213.16 4,481,086,033.30
Classified as held for sale debt
Non-current liability due in 1 year 1,494,880,000.00 968,610,000.00
Other current liability 946,156,242.18 644,691,748.64
Total of current liability 7,288,212,514.55 6,335,015,120.08
Non-current liabilities：
Long-term loan 3,970,170,000.00 4,545,170,000.00
Bond payable
Including：preferred stock
Sustainable debt
Long-term payable 2,022,210.11 2,022,210.11
Long-term payable to employees
Special payable
Expected liabilities
Deferred income
Deferred income tax liability 110,569,823.68 108,805,411.60
Other non-current liabilities
Total of Non-current liabilities 4,082,762,033.79 4,655,997,621.71
Total of liability 11,370,974,548.34 10,991,012,741.79
Owners’ equity
Share capital 2,090,806,126.00 2,090,806,126.00
Other equity instrument
Including：preferred stock
Sustainable debt
Capital reserves 2,921,957,981.38 2,921,957,981.38
Less：Shares in stock
Other comprehensive income 327,577,169.96 327,263,824.17
Special reserves
Surplus reserves 528,976,846.38 528,976,846.38
Undistributed profit 2,877,942,302.11 2,662,880,058.78
Total of owners’ equity 8,747,260,425.83 8,531,884,836.71
Total of liabilities and owners’ equity 20,118,234,974.17 19,522,897,578.50
Legal Representative: Zheng Renfa General Manager : Wang Chunhua
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Person in charge of accounting：Fang Zhi Accounting Dept Leader: Zhou Fang
3.Consolidated Income statement
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 743,043,761.26 708,861,624.37
Incl：Business income 743,043,761.26 708,861,624.37
Interest income
Insurance fee earned
Fee and commission received
II. Total business cost 349,373,491.44 381,174,667.38
Incl：Business cost 253,181,541.86 271,049,367.90
Interest expense
Fee and commission paid
Insurance discharge payment
Net claim amount paid
Insurance policy dividend paid
Insurance policy dividend paid
Reinsurance expenses
Business tax and surcharge 3,134,608.21 3,443,510.59
Sales expense
Administrative expense 35,901,592.17 38,257,241.20
Financial expenses 57,155,749.20 68,424,547.69
Asset impairment loss
Add：Gains from change of fir value
（“-”for loss）
Investment gain（“-”for loss） 103,011,034.29 97,471,152.80
Incl: investment gains from affiliates 103,011,034.29 96,471,880.49
Gains from currency exchange
Assets dispose loss
Other income
III. Operational profit（“-”for loss） 496,681,304.11 425,158,109.79
Add ：Non-operational income 924,878.79 583,642.64
Including：Gains from disposal of
92,737.24
non-current assets
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Amount in this period Amount in last period
Less：Non business expenses 277,993.40 179,324.57
Incl：Loss from disposal of non-current
249,184.79 16,609.06
assets
IV. Profit before tax(“-“for loss) 497,328,189.50 425,562,427.86
Less: Income tax expense 102,250,360.83 95,784,888.47
V. Net profit 395,077,828.67 329,777,539.39
1.Net continuing operating profit 395,077,828.67 286,719,172.39
2.Termination of operating net profit
Net profit attributable to the owners of
341,598,430.84 286,719,172.39
parent company
Minority shareholders’ equity 53,479,397.83 43,058,367.00
VI. Other comprehensive income 313,345.79 47,050,988.80
Net of profit of other comprehensive inco
me attributable to owners of the parent co 313,345.79 47,050,988.80
mpany.
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent accounting
period
1.Re-measurement of defined benefit pla
ns of changes in net debt or net assets
2.Other comprehensive income under the
equity method investee can not be reclass
ified into profit or loss.
（II）
Other comprehensive income that will be 313,345.79 47,050,988.80
reclassified into profit or loss.
1.Other comprehensive income under the
equity method investee can be reclassifie -4,979,890.45
d into profit or loss.
2.Gains and losses from changes in fair v
5,293,236.24 47,050,988.80
alue available for sale financial assets
3.Held-to-maturity investments reclassifi
ed to gains and losses of available for sal
e financial assets
4.The effective portion of cash flow hedg
es and losses
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Amount in this period Amount in last period
5.Translation differences in currency fina
ncial statements
6.Other
Net of profit of other comprehensive inco
me attributable to Minority shareholders’
equity
VII. Total comprehensive income 395,391,174.46 376,828,528.19
Total comprehensive income
attributable to the owner of the parent 341,911,776.63 333,770,161.19
company
Total comprehensive income
53,479,397.83 43,058,367.00
attributable minority shareholders
VIII. Earnings per share
（I）Basic earnings per share 0.16 0.140
(II)Diluted earnings per share 0.16 0.140
If there are entities merged under common control, their net profit realized before the merger were totaled to
RMB0.00. While it was RMB0.00 previous period.
Legal Representative: Zheng Renfa General Manager : Wang Chunhua
Person in charge of accounting：Fang Zhi Accounting Dept Leader: Zhou Fang
4. Income statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I. Income from the key business 328,850,035.97 19,955,682.04
Incl：Business cost 145,321,328.49 116,053.35
Business tax and surcharge 1,715,552.23 28,965.70
Sales expense
Administrative expense 18,510,954.70 12,781,201.64
Financial expenses 52,730,252.46 34,321,379.12
Asset impairment loss
Add：Gains from change of fir value
（“-”for loss）
Investment gain（“-”for loss） 135,011,034.29 505,190,620.29
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Amount in this period Amount in last period
Incl: investment gains from affiliates 103,011,034.29 96,471,880.49
Assets disposal income
Other income
II. Operational profit（“-”for loss） 245,582,982.38 477,898,702.52
Add ：Non-operational income 583,307.92
Less：Non business expenses 251,804.79
Including：Loss of disposal of
249,184.79
non-current assets
III.Total profit(“-”for loss) 245,914,485.51 477,898,702.52
Less：Income tax expenses 30,852,242.18
IV. Net profit（“-”for net loss） 215,062,243.33 477,898,702.52
1.Net continuing operating profit 215,062,243.33 477,898,702.52
2.Termination of operating net profit
V.Net of profit of other comprehensive i
313,345.79 47,050,988.80
ncome
（I）Other comprehensive income items
that will not be reclassified into
gains/losses in the subsequent
accounting period
1.Re-measurement of defined benefit pl
ans of changes in net debt or net assets
2.Other comprehensive income under th
e equity method investee can not be recl
assified into profit or loss.
（II）
Other comprehensive income that will b 313,345.79 47,050,988.80
e reclassified into profit or loss.
1.Other comprehensive income under th
e equity method investee can be reclassi -4,979,890.45
fied into profit or loss.
2.Gains and losses from changes in fair
5,293,236.24 47,050,988.80
value available for sale financial assets
3.Held-to-maturity investments reclassif
ied to gains and losses of available for s
ale financial assets
4.The effective portion of cash flow hed
ges and losses
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Amount in this period Amount in last period
5.Translation differences in currency fin
ancial statements
6.Other
VI. Total comprehensive income 215,375,589.12 524,949,691.32
VII. Earnings per share：
（I）Basic earnings per share 0.16 0.14
(II)Diluted earnings per share 0.16 0.14
Legal Representative: Zheng Renfa General Manager : Wang Chunhua
Person in charge of accounting：Fang Zhi Accounting Dept Leader: Zhou Fang
5. Consolidated Cash flow statement
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
734,954,247.26 654,396,443.21
rending of services
Net increase of customer deposits
and capital kept for brother company
Net increase of loans from central bank
Net increase of inter-bank loans from
other financial bodies
Cash received against original
insurance contract
Net cash received from reinsurance
business
Net increase of client deposit and
investment
Net increase of trade financial asset
disposal
Cash received as interest, processing
fee and commission
Net increase of inter-bank fund
received
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Amount in this period Amount in last period
Net increase of repurchasing business
Tax returned
Other cash received from business
8,628,131.32 34,657,581.68
operation
Sub-total of cash inflow 743,582,378.58 689,054,024.89
Cash paid for purchasing of
65,925,589.00 36,673,740.77
merchandise and services
Net increase of client trade and
advance
Net increase of savings n central bank
and brother company
Cash paid for original contract claim
Cash paid for interest, processing fee
and commission
Cash paid for policy dividend
Cash paid to staffs or paid for staffs 74,728,511.17 70,894,980.53
Taxes paid 259,308,133.22 86,763,105.47
Other cash paid for business activities 10,642,615.58 14,877,480.20
Sub-total of cash outflow from
410,604,848.97 209,209,306.97
business activities
Cash flow generated by business
332,977,529.61 479,844,717.92
operation, net
II.Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains 80,894,706.68 56,171,950.90
Net cash retrieved from disposal of
fixed assets, intangible assets, and 100,329,850.00 3,800.00
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received
Sub-total of cash inflow due to
181,224,556.68 56,175,750.90
investment activities
Cash paid for construction of
181,076,036.11 113,731,853.71
fixed assets, intangible assets
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Amount in this period Amount in last period
and other long-term assets
Cash paid as investment
Net increase of loan against pledge
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
181,076,036.11 113,731,853.71
investment activities
Net cash flow generated by investment 148,520.57 -57,556,102.81
III.Cash flow generated by financing
Cash received as investment
Incl: Cash received as investment from
minor shareholders
Cash received as loans 414,000,000.00 499,000,000.00
Cash received from bond placing
Other financing –related ash received
Sub-total of cash inflow from financing
414,000,000.00 499,000,000.00
activities
Cash to repay debts 307,730,000.00 499,000,000.00
Cash paid as dividend, profit, or
81,854,963.82 73,824,461.52
interests
Incl: Dividend and profit paid by
subsidiaries to minor shareholders
Other cash paid for financing activities
Sub-total of cash outflow due to
389,584,963.82 572,824,461.52
financing activities
Net cash flow generated by financing 24,415,036.18 -73,824,461.52
IV. Influence of exchange rate
alternation on cash and cash
equivalents
V.Net increase of cash and cash
357,541,086.36 348,464,153.59
equivalents
Add: balance of cash and cash
2,363,042,700.42 2,603,279,644.25
equivalents at the beginning of term
VI ..Balance of cash and cash 2,720,583,786.78 2,951,743,797.84
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Amount in this period Amount in last period
equivalents at the end of term
Legal Representative: Zheng Renfa General Manager : Wang Chunhua
Person in charge of accounting：Fang Zhi Accounting Dept Leader: Zhou Fang
6. Cash Flow Statement of the Parent Company
In RMB
Items Amount in this period Amount in last period
I.Cash flows from operating activities
Cash received from sales of goods or
308,153,039.83 2,732,392.40
rending of services
Tax returned
Other cash received from business
313,698,619.62 286,775,467.69
operation
Sub-total of cash inflow 621,851,659.45 289,507,860.09
Cash paid for purchasing of
29,554,946.50
merchandise and services
Cash paid to staffs or paid for staffs 30,305,685.91 8,786,519.48
Taxes paid 14,917,622.11 523,115.02
Other cash paid for business activities 156,019,307.99 5,143,830.51
Sub-total of cash outflow from
230,797,562.51 14,453,465.01
business activities
Cash flow generated by business
391,054,096.94 275,054,395.08
operation, net
II.Cash flow generated by investing
Cash received from investment
retrieving
Cash received as investment gains 122,894,706.68 487,891,418.39
Net cash retrieved from disposal of
fixed assets, intangible assets, and 16,250.00
other long-term assets
Net cash received from disposal of
subsidiaries or other operational units
Other investment-related cash received 213,750.00 10,283,812.50
Sub-total of cash inflow due to 123,124,706.68 498,175,230.89
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Items Amount in this period Amount in last period
investment activities
Cash paid for construction of fixed
assets, intangible assets 170,844,583.14
and other long-term assets
Cash paid as investment
Net cash received from subsidiaries
and other operational units
Other cash paid for investment
activities
Sub-total of cash outflow due to
170,844,583.14
investment activities
Net cash flow generated by investment -47,719,876.46 498,175,230.89
III.Cash flow generated by financing
Cash received as investment
Cash received as loans 155,000,000.00
Cash received from bond placing
Other financing –related ash received 150,000,000.00
Sub-total of cash inflow from
305,000,000.00
financing activities
Cash to repay debts
Cash paid as dividend, profit, or
40,196,530.42 37,436,356.12
interests
Other cash paid for financing activities 73,200,000.00
Sub-total of cash outflow due to
113,396,530.42 37,436,356.12
financing activities
Net cash flow generated by financing 191,603,469.58 -37,436,356.12
IV. Influence of exchange rate
alternation on cash and cash
equivalents
V.Net increase of cash and cash
534,937,690.06 735,793,269.85
equivalents
Add: balance of cash and cash
2,130,475,892.67 1,795,455,123.88
equivalents at the beginning of term
VI ..Balance of cash and cash
2,665,413,582.73 2,531,248,393.73
equivalents at the end of term
Legal Representative: Zheng Renfa General Manager : Wang Chunhua
Guangdong Provincial Expressway Development Co., Ltd. The First Quarterly Report 2018
Person in charge of accounting：Fang Zhi Accounting Dept Leader: Zhou Fang
II. Auditor’ report
Is the First Quarterly Report be audited?
□ Yes √No
The First Quarterly report is not audited.
