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1、Guangdong Provincial Expressway Development Co.，Ltd.The First Quarterly Report 2012(Full text)I Important Statement1.1 The Board of Directors,Supervisory Committee,Directors,Supervisors,Senior Executivesof the Company guarantee that there are no significant omissions,fictitious or misleadingstatemen
2、ts carried in the Report and we will accept individual and joint responsibilities for thetruthfulness,accuracy and completeness of the Report.1.1 1.2 The First quarterly financial report of the Company is not audited.1.3 Chairman of board of directors Mr.Zhou Yuming,General Manager of the Company Mr
3、.Li Xiyuan and ChiefAccountant of the Company Mr.Xiao Laijiu State:we guarantee the authenticity and completeness of theFinancial Report in this quarterly report.2 Basic Information2.1 Main accounting Highlights and financial indexesUnit:RMB,At the period-end of this,At the period-end of lastyear,In
4、crease/decrease（）,Total assets（RMB）Owners equity attributable to the shareholders ofthe listed company（RMB）Stock capital（Shares）,12,472,713,217.764,167,585,213.871,257,117,748.00,11,802,427,175.924,115,126,105.451,257,117,748.00,5.68%1.27%0.00%,Net assets per share attributable to the,shareholders o
5、f the listed company,3.32,3.27,1.53%,（RMB/shares）,Amount of current period,Amount of the same periodin last year,Increase/decrease（）,Total turnover(RMB)Net profit attributable to owners of parentcompany(RMB)Net cash flow arising from operatingactivities(RMB)Net cash flow per share arising fromoperat
6、ing activities(RMB/share)Basic earnings per share(RMB/share)Diluted earnings per share(RMB/share),268,377,836.8459,659,108.43163,716,399.470.130.050.05,248,954,619.0466,164,194.62148,498,597.120.120.050.05,7.80%-9.83%10.25%8.33%0.00%0.00%,1,-,Weighted average return on equity（%）Weighted average retu
7、rn on equity afterdeducting non-recurring gains and losses（%）,1.44%1.43%,1.53%1.94%,-0.09%-0.51%,Items of non-current gains and losses applicable not applicableUnit：RMB,Non-recurring gain and loss itemsOther non-operating income and expense other than above-mentionedAmount of influence of income tax
8、Total,Amount(Year-beginning to theend of the report period.)388,150.75-97,037.68291,113.07,Notes（If applicable）,2.2 Top 10 shareholders and top 10 holders of unconditional sharesUnit：Shares,Total number of shareholders at the end of reportperiodParticulars about the shares held by the top ten tradab
9、le shareholders with unrestricted conditionsAmount of tradable shares with,97,571,Full name of shareholderGuangdong Communication Group Co.,Ltd.,unrestricted conditions held at the end ofreport period103,379,742 RMB,Type of shares,Xinyue Co.,Ltd.,13,201,086,Foreign shares placed in domesticexchange,
10、Guangdong Yuecai Trust Investment Co.,Ltd.China Merchants Securities.Customer CreditGuarantee securities accountShanxi Huiteng International Freight ForwardingCo.,Ltd.,12,174,345 RMB common shares11,364,490 RMB common shares3,696,200 RMB common shares,STICHTING PGGM DEPOSITARY,3,599,861,Foreign shar
11、es placed in domesticexchange,Haerbin Daoli District,Treasury Services Dept.,2,981,482 RMB common shares,Lu WeiqiangChen ShukaiLin Mingtan,2,888,8482,803,0002,575,508,Foreign shares placed in domesticexchangeForeign shares placed in domesticexchangeForeign shares placed in domesticexchange,3 Signifi
12、cant Events3.1 Particular about large-margin change of main accounting statement item and financial index and its reason.Applicable Not applicable（I）Items of balance sheet as compared with the beginning of this year.1.Monetary capitalThe ending balance of monetary capital increased mainly due to net
13、 cash inflow from financing activities.2.Accounts receivable increased by RMB 25.19 million and 142.12%over the beginning of the year mainly due to increase of toll2,income receivable from United Electronic Toll Center by Guangfo Expressway Co.,Ltd.and Guangdong Fokai Expressway Co.,Ltd.3.Prepayment
14、s increased by RMB 116 million and 79.73%over the beginning of the year mainly due to increased by RMB 117million of prepayment for materials and works for expansion project of Guangdong Fokai Expressway Co.,Ltd.,4.Dividends receivable decreased by RMB 68 million and 75.01%over the beginning of the
15、year due to recovery of partial dividendsfor previous years by the parent company.,5.The wages and benefits payable to staff and workers increased by 0.84 million and 42.18%over the beginning of the year mainlydue to increase of ending balance.,6.Taxes and levies payable increased by RMB 13.54 milli
16、on and 103.61%over the beginning of the year mainly due to increase ofbalance of income tax payable.,7.Interest payable increased by RMB 27 million and 72.66%over the beginning of the year mainly due to provision for corporate bondinterest of RMB 10.20 million and medium term note interest of RMB 16
17、.95 million in the current season.,(II)Items of profit statement as compared with the same period of the previous year,Financial expenses increased by RMB 32.91 million and 70.37%year on year mainly due to(1)increase of loan principal;(2)Theinterest rate of partial original loans rose from the begin
18、ning of the report year and the new interest rate that came into effect on July 7,2011 applied.,2.Non-operating expenses decreased by RMB 32.07 million and 99.99%year on year mainly for the following reason:GuangdongFokai Expressway Co.,Ltd.suffered loss of RMB 31.84 million from disposal of fixed a
19、ssets as a result of dismantling anintercommunication fly-over bridge along the line for the purpose of expansion in the same period of previous year while there was nosuch loss in current period.,3.Income tax expenses increased by RMB 6.58 million and 71.57%year on year mainly due to year-on-year i
20、ncrease of total profitmade by Guangdong Fokai Expressway Co.,Ltd.for current period.,(III)Notes of main items of cash flow statement,1.Other cash received from business operation,This item mainly calculates the toll income received and paid through liquidation accounts of Guangfo Expressway Co.,Ltd
21、.andGuangdong Fokai Expressway Co.,Ltd.,and other cash receipt including project quality security(bid security/performance bond),income from fines,rental income from real estates for investment and other income from governmental subsidy except tax refund.,The transaction amount of this item decrease
22、d by RMB 186 million year on year mainly due to change of accounting method.Reason:Guangfo Expressway Co.,Ltd.and Guangdong Fokai Expressway Co.,Ltd.are in networking toll collection area in west Guangdong.Except the toll income from the main section,the toll income received through toll liquidation
23、 account includes the toll income of othersections in the collection area.2Before the second quarter of 2011,it will be accounted for under this item at the time of receipt,whichis shown as cash inflow.After receipt of account splitting instruction from the United Electronic Toll Collection Center,t
24、he incomefrom other sections shall be transferred out,which is accounted for under the time other cash payment related to operating activitiesand shown as cash outflow.From the second quarter of 2011,the net balance of all to-be-split toll income received through liquidationaccount minus the income
25、transferred to other sections is shown under this item.,2.Cash paid for goods and services is mainly the payment for special works,maintenance costs and networking paid service fees.Theyear-on-year decrease by RMB 12.34 million is mainly due to year-on-year decrease of payment for project made by Gu
26、angdong FokaiExpressway Co.,Ltd.in current period by RMB 18.48 million.,3.The item of the cash paid to and for staff and workers mainly calculates the wages,bonuses,miscellaneous allowances andsubsidies actually paid to staff and workers in current period.The year-on-year increase by RMB 12.11 milli
27、on is mainly due to thechange of expenditure from labor cost.,4.The item of other cash payment related to operating activities mainly calculates the project quality security(bid,security/performance bond)paid by the Company,expenses from engaging intermediaries,office expenditure,etc.The amount forc
28、urrent period decreased by RMB 198 million year on year mainly due to the above point 1.,5.The item of cash received from returns on investment mainly calculates the cash dividends received by the Company for equityinvestment.In current period,the Company received the remaining unpaid dividends of R
29、MB 38 million for 2010 distributed byJingzhu Expressway Guangzhu Section Co.,Ltd.and cash dividends of RMB 30 million for the third quarter of 2011 distributed byGuangdong Guanghui Expressway Co.,Ltd.The year-on-year decrease by RMB 48.90 million is due to the decrease of dividendsreceived from subs
30、idiaries in current period.,In current period,Guangdong Fokai Expressway Co.,Ltd.paid RMB 180 million for expansion project of Xiebian-Sanbao Sectionaccording to its progress.Guangfo Expressway Co.,Ltd.paid about RMB 27 million for Yayao-Xiebian expansion project and otherworks.The year-on-year incr
31、ease by RMB 42.78 million is due to the increase of investment in the above-mentioned projects in currentperiod.,6.Cash paid for construction of fixed assets,intangible assets and other long-term assets,In current period,Guangdong Fokai Expressway Co.,Ltd.paid RMB 180 million for expansion project o
32、f Xiebian-Sanbao Sectionaccording to its progress.Guangfo Expressway Co.,Ltd.paid about RMB 27 million for Yayao-Xiebian expansion project and otherworks.The year-on-year increase by RMB 42.78 million is due to the increase of investment in the above-mentioned projects in currentperiod.,7.Cash paid
33、as investment,In current period,the Company did not pay cash for external investment,In the same period of previous year,the parent companycontributed capital of RMB 70 million to Guangdong Guangle Expressway Co.,Ltd.Therefore,the amount of this item decreased by,3,RMB 70 million year on year.,8.Cas
34、h received as investment,In current period,Guangdong Fokai Expressway Co.,Ltd.received capital payment of RMB 67.94 million from minority shareholders,which increased by RMB 37.94 million year on year due to increase of capital payment by minority shareholders.9.Cash received from obtaining loans,It
35、 mainly includes:(1)In the current period,the parent company renewed the borrowing of entrusted loan with principal of RMB 105million from Guangdong Guanghui Expressway Co.,Ltd.and obtained short-term loans of RMB 161 million from banks.(2)GuangfoExpressway Co.,Ltd.borrowed RMB 240 million from bank
36、s in current period.(3)Guangdong Fokai Expressway Co.,Ltd.borrowedRMB 433 million from banks in current period.The year-on-year increase by RMB 603 million is due to increase of principal of bankloans borrowed by the parent company and controlled subsidiaries in current period.10.Cash paid for debt
37、repayment,It mainly includes:(1)In current period,the parent company repaid entrusted loan principal of RMB 105 million to GuangdongGuanghui Expressway Co.,Ltd.and bank loans of RMB 111 million.(2)Guangdong Fokai Expressway Co.,Ltd.repaid bank loans ofRMB 218 million in current period.The amount of
38、principal repayment increased by RMB 220 million year on year due to increase ofprincipal of due loans.,11.Cash paid for distribution of dividends or profits or interest reimbursement,It mainly includes payment of RMB 77.77 million by the parent company,Guangdong Fokai Expressway Co.,Ltd.and Guangfo
39、Expressway Co.,Ltd.including bank loan interests.The year-on-year increase by RMB 24.68 million is mainly due to increase of loanprincipal and rise in interest rate.,3.2 The progress of significant events and influence,as well as the analysis and explanation on resolving proposalreason.,3.2.1 Non-st
40、andard Opinion,applicable not applicable,3.2.2 The Company provided funds to its controlling shareholder or related parties and provided guarantees inviolation of established procedures.,applicable not applicable,3.2.3 Signing and performance of significant contracts for daily operation,applicable n
41、ot applicable,3.2.4 Other,applicable not applicable,3.3 The fulfillment of the commitment made by the Company,shareholders and the actual controller,Commitments made by the listed company and its directors,supervisors,senior executives,the shareholders withholding above 5%shares and its actual contr
42、oller in the report period,or lasting until the report period.,applicable not applicable,3.4 Estimation of accumulative net profit from the beginning of the year to the end of next report period to be lossprobably or the warning of its material change compared with the corresponding period of the la
43、st year andexplanation of reason.,applicable not applicable,4,3.5 Other significant events need to be explained3.5.1 Securities investmentapplicable not applicable3.5.2 Reception of investigations,communications,or interviews company held in the report period.In the report period,the company did not
44、 accept investigations,communications,or interviews.3.6 Derivative Investmentapplicable not applicable3.6.1 Particulars about derivatives investment held at the end of report periodapplicable not applicable4 Appendix4.1 Balance sheet,Prepared by：Guangdong Provincial Expressway Development Co.，Ltd.Ma
45、rch 31,2012,Unit：RMB,Items,Year-end balance,Year-beginning balance,Consolidated,Parent company,Consolidated,Parent company,Current asset：,Monetary fund,1,524,662,038.69,640,117,619.83,1,018,999,531.05,701,899,352.28,Settlement provisionOutgoing call loanTrading financial assetsBill receivable,Accoun
46、t receivablePrepaymentsInsurance receivableReinsurance receivableProvisions of Reinsurancecontracts receivableInterest receivable,42,918,016.07260,584,983.03,335,866.66,17,726,118.11144,982,896.65,316,891.66,Dividend receivableOther account receivable,22,658,881.0535,884,049.92,95,942,637.7276,895,5
47、61.35,90,658,881.0537,983,304.82,139,574,457.393,657,454.90,Repurchasing offinancial assetsInventoriesNon-current asset due in 1year,Other current asset,170,000,000.00,160,000,000.005,Total of current assets,1,886,707,968.76,983,291,685.56,1,310,350,731.68,1,005,448,156.23,Non-current assets：Loans a
48、nd payment onothers behalf disbursed,Disposable financial asset,684,000,000.00,684,000,000.00,691,200,000.00,691,200,000.00,Expired investment inpossessLong-term receivable,Long term share equityinvestmentProperty investmentFixed assetsConstruction in progress,2,999,324,583.085,424,984.733,975,311,6
49、93.642,870,548,911.84,4,994,083,152.605,172,846.485,981,940.81,2,918,288,171.885,541,038.084,063,417,803.172,760,092,723.87,4,763,046,741.405,288,899.835,837,841.17,Engineering material,Fixed asset disposalProduction physical assetsGas&petrol,65,598.13,Intangible assetsR&D petrolGoodwill,50,974,064.
50、89,53,166,163.90,Long-germ expenses to beamortized,355,412.69,335,238.40,370,543.34,335,238.40,Differed income tax assetOther non-current asset,Total of non-current assetsTotal of assets,10,586,005,249.0012,472,713,217.76,5,689,573,178.296,672,864,863.85,10,492,076,444.2411,802,427,175.92,5,465,708,
