Core Viewpoint - Guangzhou Development is transforming from a traditional coal-fired power company into a comprehensive energy enterprise, focusing on diversified energy solutions and maintaining high dividend returns for investors [5][14]. Group 1: Company Overview - Guangzhou Development is a significant comprehensive energy enterprise in Guangdong Province, emphasizing operational efficiency and profitability while enhancing external value representation [2]. - The company has established a diversified industrial system comprising six major business areas: electricity, energy logistics, gas, new energy, energy storage, and energy financial services [3]. Group 2: Strategic Plans - During the 14th Five-Year Plan, the company aims to achieve a threefold increase in total investment, installed capacity, and natural gas supply [3]. - The company is actively constructing new energy projects, including wind and solar power, and has a controllable installed capacity of over 4.2 million kilowatts in wind and solar energy as of September 2024 [4]. Group 3: Financial Performance - Guangzhou Development has maintained a high dividend payout for 25 consecutive years, with an average dividend ratio exceeding 40% of net profit attributable to shareholders [14][15]. - The company has cumulatively distributed nearly 10 billion yuan in cash dividends since its listing, positioning it among a select few companies in the A-share market with such a consistent dividend history [15][17]. Group 4: Investor Relations - The company prioritizes transparent communication with investors, utilizing various platforms for engagement, including performance briefings and interactive sessions [12][13]. - The management team emphasizes the importance of trust and confidence from investors, committing to meet their expectations [18][19].

Group 1: Investor Relations Activities - The company conducted various investor relations activities, including 1 on-site visit, 6 analyst meetings, and media interviews, as of October 2024 [1] - Participants included major financial institutions such as CITIC Securities and Ping An Pension Insurance [1] Group 2: Performance Metrics - As of the end of October 2024, the company's online electricity sales (including photovoltaic sales) grew by 9.26% and 10.24% year-on-year [1] - The total electricity generation for the company reached 186.00 billion kWh, marking a significant increase compared to the previous year [1] Group 3: Future Projections and Strategies - The company is in the early stages of signing long-term electricity contracts for 2025, with current electricity price predictions influenced by generation costs and supply-demand relationships [1] - The company plans to continue investing in new energy projects while prioritizing power consumption and price fluctuations [3] Group 4: LNG and Energy Logistics - The LNG Phase II project is expected to achieve slight profitability in its first full year of operation, with further profit potential if gas prices decrease [3] - Energy logistics, while contributing significantly to revenue, has lower profit margins; the company aims to expand its market presence while ensuring stable coal supply for its power plants [3] Group 5: Regulatory Compliance and Market Management - The company is actively managing its market value through share buybacks, equity incentives, and increased dividend payouts, in line with municipal asset management requirements [3] - The company has established a comprehensive energy logistics chain, expanding its operations across 18 provinces and 11 countries [3][4]

本次交易不构成关联交易，亦不构成重大资产重组。 本次交易已经公司第九届董事会第九次会议审议通过，无需提交 公司股东大会审议。 股票简称：广州发展 股票代码：600098 公告编号：临 2024-068 号 公司债券简称：21 穗发 01、21 穗发 02、22 穗发 01、22 穗发 02 公司债券代码：188103、188281、185829、137727 广州发展集团股份有限公司 关于全资子公司以公开挂牌方式 出售部分资产的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确 性和完整性承担个别及连带责任。 重要内容提示： 公司全资子公司广州珠江电力有限公司（以下简称"珠电公司"）、 广州南沙发展煤炭码头有限公司（以下简称"发展码头公司"）、广州 珠江电力燃料有限公司（以下简称"燃料公司"）拟以经备案评估值 113,870,005.83元（含税）为依据确定转让底价，出售名下拟关停机组 及相关设备。 本次交易拟通过广东联合产权交易中心以公开挂牌方式进行，交易 对方和最终交易价格存在不确定性，最终转让能否成功尚存在不确定性。 一、交易概述 为落实国家 ...

股票简称：广州发展 股票代码：600098 公告编号：临 2024-066 号 公司债券简称：21 穗发 01、21 穗发 02、22 穗发 01、22 穗发 02 公司债券代码：188103、188281、185829、137727 广州发展集团股份有限公司 第九届董事会第九次会议决议公告 2.授权公司经营班子办理本次增资相关事宜。 详见同日于上海证券交易所网站（www.sse.com.cn）披露 的《广州发展集团股份有限公司关于全资子公司广州发展电力 集团有限公司向广东粤电靖海发电有限公司增资的公告》。 二、《关于通过出售属下公司资产的决议》（应参与表决董 事 7 名，实际参与表决董事 7 名，7 票通过）。 一、《关于通过全资子公司广州发展电力集团有限公司向广 东粤电靖海发电有限公司增资的决议》（应参与表决董事 7 名， 实际参与表决董事 7 名，7 票通过）。 为推进广东粤电靖海发电有限公司（以下简称"靖海发电 公司"）广东粤电惠来电厂 5、6 号机组扩建工程（2×1000MW） 项目，经表决，全体董事一致同意并形成以下决议： 1.同意属下全资子公司广州发展电力集团有限公司（以下 简称"电力集团"）按 ...

股票简称：广州发展 股票代码：600098 公告编号：临 2024-067 号 公司债券简称：21 穗发 01、21 穗发 02、22 穗发 01、22 穗发 02 公司债券代码：188103、188281、185829、137727 广州发展集团股份有限公司 关于全资子公司广州发展电力集团有限公司 向广东粤电靖海发电有限公司增资的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确 性和完整性承担个别及连带责任。 重要内容提示： 增资标的公司名称：广东粤电靖海发电有限公司（以下简称"靖 海发电公司"） 增资金额：公司属下全资子公司广州发展电力集团有限公司（以 下简称"电力集团"）按股比增资16,099.54万元。 风险提示: 本次增资事项尚需到市场监督管理部门办理变更备案 手续。靖海发电公司在实际运营过程中可能面临市场风险、运营风险以 及经济环境等方面的风险。公司将加强对靖海发电公司的监督和管理， 积极防范和妥善应对相关风险。敬请广大投资者注意投资风险。 一、对外投资概述 （一）对外投资的基本情况 为推进靖海发电公司广东粤电惠来电厂5、6号机组扩建 ...

股票简称：广州发展 股票代码：600098 公告编号：临 2024-065 号 公司债券简称：21 穗发 01、21 穗发 02、22 穗发 01、22 穗发 02 公司债券代码：188103、188281、185829、137727 广州发展集团股份有限公司关于 2024年第三季度业绩说明会召开情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和 完整性承担个别及连带责任。 广州发展集团股份有限公司（以下简称"公司"）于 2024 年 11 月 15 日在上证路演中心以网络互动方式召开 2024 年 第三季度业绩说明会，现将说明会召开情况公告如下： 一、本次业绩说明会召开情况 时间：2024 年 11 月 15 日 11:00-12:00 地点：上证路演中心网站 方式：网络互动 公司参会人员：党委书记、董事长蔡瑞雄，党委副书记、 副董事长、总经理、董事会秘书吴宏，独立董事廖艳芬，总 会计师马素英，财务总监梁建，副总经济师、战略管理部总 经理李云龙，财务部总经理张立更，投资者关系部总经理、 证券事务代表姜云及相关人员。 二、本次业绩说明会投 ...

股票简称：广州发展 股票代码：600098 公告编号：临 2024-064 号 公司债券简称：21 穗发 01、21 穗发 02、22 穗发 01、22 穗发 02 公司债券代码：188103、188281、185829、137727 广州发展集团股份有限公司 一、说明会类型 本次业绩说明会以网络互动方式召开，公司将针对 2024 年前三季度经营成果及财务指标的具体情况与投资者进行 互动交流和沟通，在信息披露允许的范围内就投资者普遍关 注的问题进行回答。 二、说明会召开的时间、地点 （一）会议召开时间：2024年11月15日（星期五）上午 11:00-12:00 （二）会议召开地点：上证路演中心网站（网址： https://roadshow.sseinfo.com/） 关于召开2024年第三季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记 载、误导性陈述或者重大遗漏，并对其内容的真实性、准确性和 完整性承担个别及连带责任。 重要内容提示： 广州发展集团股份有限公司（以下简称"公司"）已于 2024 年 10 月 31 日发布公司 2024 年第三季度报告，详见上 海证券交易所网站（w ...

Summary of the Conference Call Company Overview - The company discussed is Guangzhou Development, a significant player in the comprehensive energy sector in Guangdong Province, focusing on electricity, energy logistics, gas, new energy, energy storage, and energy finance [1][2]. Core Points and Arguments - **Business Expansion and Performance**: The company aims to achieve sustainable growth in 2024, focusing on improving operational performance and optimizing business structure. The goal is to enhance competitive advantages and innovate mechanisms [2]. - **Record Financial Performance**: The company reported a historical high in revenue and profit, with stable growth in operating income and profit margins. The transition towards new energy and gas sectors has been a significant contributor to this growth [3]. - **Infrastructure Development**: Key energy infrastructure projects are being advanced, including the completion of the Wanlong gas-to-electricity replacement project and the ongoing construction of the Zhujiang power plant [3][4]. - **New Energy Initiatives**: The company has made significant strides in developing new energy projects, with an increase in installed capacity of 780,000 kW and a focus on energy storage projects, totaling 246.95 MW [4]. - **Research and Development**: The company invested 686 million yuan in R&D, with a focus on innovative energy solutions and the development of smart production management systems [5]. - **Market Expansion**: The company is expanding its market presence, particularly in the natural gas sector, with a 13% increase in wholesale gas volume to over 1.5 billion cubic meters [6]. - **International Collaboration**: The company is enhancing its international capabilities, with a 13% increase in imported natural gas and ongoing collaborations in Southeast Asia and Central Asia [7]. Additional Important Information - **Cost Management and Efficiency**: The company has implemented cost control measures across various business segments, resulting in a significant reduction in fixed costs [8]. - **Future Outlook**: The company is committed to high-quality international reforms and improving governance and operational efficiency to drive future growth [7]. This summary encapsulates the key points discussed during the conference call, highlighting the company's strategic focus on growth, innovation, and market expansion in the energy sector.

Revenue and Profit Growth - Revenue for the third quarter reached RMB 13.12 billion, an increase of 18.36% year-over-year[4] - Net profit attributable to shareholders was RMB 439.90 million, up 6.98% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2024 reached RMB 36,013,087,583.39, a 9.6% increase compared to the same period in 2023[19] - Net profit attributable to the parent company's shareholders increased by 7.1% to RMB 9,715,247,309.12 in the first three quarters of 2024[18] - Revenue for the first three quarters of 2024 reached RMB 29,519,935.65, a significant increase from RMB 19,318,464.83 in the same period of 2023[26] - Net profit for the first three quarters of 2024 was RMB 912,647,585.28, up from RMB 799,781,664.61 in 2023[26] - Net profit attributable to parent company shareholders reached 1.59 billion RMB, an increase of 3.88% compared to the same period last year[20] Asset and Liability Management - Total assets as of the end of the reporting period were RMB 78.14 billion, a 5.57% increase from the end of the previous year[4] - Total assets as of Q3 2024 reached RMB 78,138,903,376.17, a 5.6% increase compared to the end of 2023[16] - Long-term equity investments grew by 1.6% to RMB 5,691,988,577.96 in Q3 2024[16] - Total liabilities decreased by 5.9% to RMB 48,750,590,055.15 in Q3 2024 compared to the end of 2023[17] - Inventory increased by 3.8% to RMB 1,751,303,023.63 in Q3 2024[16] - Total assets increased to RMB 34.403 billion, up from RMB 30.927 billion at the end of the previous year[24] - Long-term receivables rose to RMB 7.640 billion, compared to RMB 6.102 billion at the end of 2023[24] - Other equity instrument investments increased to RMB 3.360 billion, up from RMB 2.647 billion in the previous year[24] - Total liabilities increased to RMB 17.090 billion, compared to RMB 14.196 billion at the end of 2023[25] - Long-term borrowings stood at RMB 5.074 billion, slightly higher than RMB 5.048 billion in the previous year[25] - Total equity attributable to shareholders increased to RMB 17.314 billion, up from RMB 16.731 billion at the end of 2023[25] Cash Flow and Liquidity - Operating cash flow for the first nine months of 2024 was RMB 3.74 billion, a significant increase of 37.61% year-over-year[4] - The company received RMB 197.09 million from land reserve compensation, significantly boosting cash flow from asset disposals[7] - Cash and cash equivalents increased by 855.02%, driven by higher operating margins in new energy and gas businesses, and reduced project and equity expenditures[9] - As of September 30, 2024, the company's monetary funds amounted to RMB 3.945 billion[15] - Operating cash flow increased by 37.6% year-over-year to 3.74 billion RMB[22] - Cash received from customers increased by 9.69% to 40.29 billion RMB[22] - Cash paid for goods and services increased by 7.43% to 34.44 billion RMB[22] - Cash received from tax refunds decreased by 42.56% to 86.74 million RMB[22] - Investment activities generated a net cash outflow of RMB 2.422 billion, a decrease from RMB 4.086 billion in the previous period[23] - Financing activities resulted in a net cash outflow of RMB 85.12 million, compared to a net inflow of RMB 1.477 billion in the prior period[23] - The company's cash and cash equivalents increased by RMB 1.226 billion, reaching RMB 7.359 billion at the end of the period[23] - Cash flow from operating activities for the first three quarters of 2024 was negative RMB 73,311,339.04, compared to negative RMB 57,431,481.47 in 2023[28] - Cash flow from investing activities for the first three quarters of 2024 was negative RMB 47,847,243.96, compared to negative RMB 691,590,529.00 in 2023[28] - Cash flow from financing activities for the first three quarters of 2024 was positive RMB 1,217,571,260.08, up from RMB 308,906,589.16 in 2023[29] - The company's cash and cash equivalents at the end of the third quarter of 2024 were RMB 2,177,897,368.38, compared to RMB 1,647,379,852.46 at the same time in 2023[29] Business Operations and Performance - Prepayments for coal and oil products increased by 73.44%, reflecting higher business scale and prepayments[7] - Contract liabilities surged by 77.93%, driven by increased prepayments for coal and oil products[7] - The company issued short-term financing notes, leading to a 812.24% increase in other current liabilities[7] - Wind power project equity payments contributed to a 63.04% rise in other non-current liabilities[7] - From January to September 2024, the company's consolidated power generation enterprises generated 18.6 billion kWh of electricity, a year-on-year increase of 9.26%[14] - The company's natural gas supply volume reached 2.984 billion cubic meters, a year-on-year increase of 40.26%[14] - The company's coal sales volume reached 30.9085 million tons, a year-on-year increase of 6.3%[14] - Sales revenue from goods and services reached 40.29 billion RMB, up 9.69% year-over-year[22] - Investment income from associates and joint ventures decreased by 23.43% to 163.78 million RMB[20] - Credit impairment losses improved significantly, with a gain of 5.25 million RMB compared to a loss of 100.71 million RMB in the same period last year[20] - Total comprehensive income increased by 26.83% to 2.26 billion RMB[20] - Basic earnings per share increased by 3.8% to 0.454 RMB per share[20] - Other comprehensive income increased by 61.5% to RMB 1,423,957,723.96 in the first three quarters of 2024[18] - Other comprehensive income after tax for the first three quarters of 2024 was RMB 542,775,000.00, compared to RMB 99,000,000.00 in 2023[26] - Total comprehensive income for the first three quarters of 2024 was RMB 1,455,422,585.28, up from RMB 898,781,664.61 in 2023[27] Shareholder and Ownership Structure - Total number of ordinary shareholders at the end of the reporting period is 51,991[10] - Guangzhou Industrial Investment Holding Group Co., Ltd. holds 2,019,111,863 shares, representing 57.58% of the total shares[10] - China Yangtze Power Co., Ltd. holds 490,103,258 shares, representing 13.98% of the total shares[10] - Tibet EVE Energy Co., Ltd. holds 62,208,398 shares, representing 1.77% of the total shares[10] Capital Expenditures and Investments - The company's subsidiary, Guangzhou Development Power Group Co., Ltd., received approval to build a 2×600MW coal-fired power plant replacement project with a total investment of RMB 5.74 billion[12] - R&D expenses for the first three quarters of 2024 totaled RMB 450,661,855.99, a 2.4% increase year-over-year[19] - Contract liabilities grew significantly by 77.9% to RMB 1,157,446,046.09 in Q3 2024[17] - The company signed a land expropriation compensation agreement with the Songzhou Sub-district Office of Baiyun District People's Government, with an estimated compensation amount of RMB 1.52 to 1.83 billion[12]

股票简称：广州发展 股票代码：600098 公告编号：临 2024-063 号 公司债券简称：21 穗发 01、21 穗发 02、22 穗发 01、22 穗发 02 公司债券代码：188103、188281、185829、137727 广州发展集团股份有限公司 第九届董事会第八次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假 记载、误导性陈述或者重大遗漏，并对其内容的真实性、准确 性和完整性承担个别及连带责任。 广州发展集团股份有限公司（简称"公司"）于 2024 年 10 月 18 日向全体董事发出召开董事会会议的书面通知，并于 2024 年 10 月 30 日以现场结合视频会议方式召开第九届董事会第八 次会议，应到会董事 7 名，实际到会董事 6 名，蔡瑞雄董事长 委托吴宏副董事长、总经理、董秘主持会议并行使表决权，监 事列席本次会议，符合《公司法》和公司《章程》的有关规定。 会议由副董事长、总经理、董秘吴宏先生主持，形成以下决议： 一、《关于通过<广州发展集团股份有限公司 2024 年第三季 度报告>决议》（应到会董事 7 名，实际参与表决董事 7 名，7 票通过）。 广州发展集团股份 ...