[Part I. Important Notice](index=3&type=section&id=Part%20I.%20Important%20Notice) This section provides essential declarations regarding the authenticity and integrity of the quarterly report [1.1 The Company's Board of Directors, Supervisory Board, Directors, Supervisors, and Senior Management Guarantee the Authenticity, Accuracy, and Completeness of the Quarterly Report Content](index=3&type=section&id=1.1%20The%20Company's%20Board%20of%20Directors,%20Supervisory%20Board,%20Directors,%20Supervisors,%20and%20Senior%20Management%20Guarantee%20the%20Authenticity,%20Accuracy,%20and%20Completeness%20of%20the%20Quarterly%20Report%20Content) The Board of Directors, Supervisory Board, and senior management guarantee the authenticity and completeness of this quarterly report and its financial statements - This company's Q3 2016 report is unaudited[6](index=6&type=chunk) - All company directors attended the board meeting to review this quarterly report[8](index=8&type=chunk) [Part II. Company's Key Financial Data and Shareholder Changes](index=3&type=section&id=Part%20II.%20Company's%20Key%20Financial%20Data%20and%20Shareholder%20Changes) This section details the company's primary financial performance metrics and changes in shareholder structure as of the reporting period end [2.1 Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) In Q1-Q3 2016, operating revenue grew 27.28%, but net profit attributable to shareholders declined 74.32% due to the absence of prior year's large investment gains Key Financial Data (Jan-Sep) | Metric | YTD as of Report Period End (Jan-Sep) | Prior YTD as of Prior Year Report Period End (Jan-Sep) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 3.41 billion RMB | 2.68 billion RMB | 27.28% | | Net Profit Attributable to Shareholders of Listed Company | 103.53 million RMB | 403.09 million RMB | -74.32% | | Net Cash Flow from Operating Activities | 39.92 million RMB | 244.80 million RMB | -83.69% | | Basic EPS (RMB/share) | 0.1251 | 0.4870 | -74.31% | | Total Assets (Period End) | 10.93 billion RMB | 9.25 billion RMB | 18.20% | - During the reporting period, total non-recurring gains and losses amounted to **7.14 million RMB**, primarily comprising government subsidies, entrusted loan income, and other non-operating income and expenses[9](index=9&type=chunk)[12](index=12&type=chunk) [2.2 Total Number of Shareholders, Top Ten Shareholders, and Top Ten Circulating Shareholders (or Non-Restricted Shareholders) as of the Report Period End](index=5&type=section&id=2.2%20Total%20Number%20of%20Shareholders,%20Top%20Ten%20Shareholders,%20and%20Top%20Ten%20Circulating%20Shareholders%20(or%20Non-Restricted%20Shareholders)%20as%20of%20the%20Report%20Period%20End) As of the report period end, the company had 40,099 shareholders, with Guangxi Zhengrun Development Group Co., Ltd. as the controlling shareholder, holding 50.03% as a state-owned legal entity - As of the report period end, the company had **40,099 shareholders**[12](index=12&type=chunk) Top Ten Shareholders | Shareholder Name | Shares Held at Period End | Percentage (%) | Shareholder Type | | :--- | :--- | :--- | :--- | | Guangxi Zhengrun Development Group Co., Ltd. | 414,147,990 | 50.03 | State-owned Legal Entity | | Song Jianbo | 18,972,005 | 2.29 | Domestic Individual | | Hong Kong Securities Clearing Company Limited | 7,453,238 | 0.90 | Other | - The controlling shareholder, Guangxi Zhengrun Development Group Co., Ltd., has no related party relationship or acting in concert relationship with other top ten shareholders[13](index=13&type=chunk) [Part III. Significant Events](index=6&type=section&id=Part%20III.%20Significant%20Events) This section outlines major events, their financial impact, and the company's ongoing commitments and future outlook [3.1 Analysis of Significant Changes and Reasons for Key Financial Statement Items and Indicators](index=6&type=section&id=3.1%20Analysis%20of%20Significant%20Changes%20and%20Reasons%20for%20Key%20Financial%20Statement%20Items%20and%20Indicators) During the reporting period, the company experienced significant changes across multiple balance sheet, income statement, and cash flow statement items, driven by factors such as bond issuance, business expansion, project investments, and the absence of prior year's large investment gains Balance Sheet Item Changes | Balance Sheet Item | Change (%) | Explanation of Change | | :--- | :--- | :--- | | Cash and Cash Equivalents | 66.66% | Receipt of funds from non-public issuance of corporate bonds and debt financing instruments | | Construction in Progress | 126.20% | Increase in construction in progress for wholly-owned subsidiary Guixu | | Bonds Payable | 241.01% | Increase due to non-public issuance of corporate bonds and debt financing instruments | Income Statement Item Changes | Income Statement Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Investment Income | -98.82% | Investment income from selling Guohai Securities shares in the prior year, no such income this period | | Income Tax Expense | -72.74% | Decrease in income tax provision due to reduced investment income | Cash Flow Statement Item Changes | Cash Flow Statement Item | Change (%) | Reason for Change | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -83.69% | Increase in cash paid for goods purchased by wholly-owned subsidiary Qinzhou Yongsheng | | Net Cash Flow from Investing Activities | 74.88% | Cash recovered from stock sales in the prior year, no such item this period, and increased wealth management and fixed asset investments | | Net Cash Flow from Financing Activities | 1,909.85% | Significant cash received from the issuance of non-public corporate bonds and private placement instruments this period | [3.2 Analysis of Progress, Impact, and Solutions for Significant Events](index=8&type=section&id=3.2%20Analysis%20of%20Progress,%20Impact,%20and%20Solutions%20for%20Significant%20Events) During the reporting period, the company's hydropower business saw significant growth in power generation and sales, boosting operating revenue by 27.28%, though net profit declined 74.32% due to the absence of prior year's large investment gains; the company also actively pursued various significant matters, including resolving accounts receivable lawsuits, making external investments, participating in rights issues, and establishing new entities - From January to September, the company's self-generated power increased by **55.89%** YoY, power sales by **47.98%** YoY, and operating revenue by **27.28%** YoY; however, due to **571 million RMB** in investment income in the prior year, net profit decreased by **74.32%** YoY this period[18](index=18&type=chunk) - Wholly-owned subsidiary Qinzhou Yongsheng is involved in multiple significant accounts receivable and prepayment disputes; some cases have resulted in favorable judgments, but collection remains challenging, such as the Guangzhou Bocai case where execution was terminated due to the debtor's lack of executable assets[19](index=19&type=chunk)[20](index=20&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk)[23](index=23&type=chunk) - The company is advancing multiple investments and capital operations, including proposed investment in Korespu, participation in establishing Guangxi Construction Industry Group, subscribing to Guohai Securities rights issue, increasing capital in Wuyi Automobile with 100% equity of Kaibao Heavy Industry, and establishing Guangxi Zhengsheng Investment Management Co., Ltd[24](index=24&type=chunk)[25](index=25&type=chunk)[26](index=26&type=chunk) [3.3 Fulfillment of Commitments by the Company and Shareholders Holding 5% or More](index=10&type=section&id=3.3%20Fulfillment%20of%20Commitments%20by%20the%20Company%20and%20Shareholders%20Holding%205%25%20or%20More) During the reporting period, all relevant commitments by the company and shareholders holding 5% or more were strictly fulfilled, including the controlling shareholder's commitment regarding future management equity incentive conditions and the wholly-owned subsidiary's pledge not to reduce its holdings of Guohai Securities shares - Controlling shareholder Guangxi Zhengrun Development Group Co., Ltd. committed that if the company meets specific performance conditions from 2014-2016, a management equity incentive plan could be launched in 2017; this commitment is currently being fulfilled[29](index=29&type=chunk)[30](index=30&type=chunk) - Wholly-owned subsidiary Qinzhou Yongsheng committed not to reduce its increased holdings of Guohai Securities shares during and within six months after the acquisition, and this commitment has been timely and strictly fulfilled[30](index=30&type=chunk) [3.4 Warning and Explanation Regarding Potential Cumulative Net Profit Loss or Significant Change Compared to Prior Year-to-Date as of Next Reporting Period End](index=11&type=section&id=3.4%20Warning%20and%20Explanation%20Regarding%20Potential%20Cumulative%20Net%20Profit%20Loss%20or%20Significant%20Change%20Compared%20to%20Prior%20Year-to-Date%20as%20of%20Next%20Reporting%20Period%20End) The company issued a warning regarding the cumulative net profit from the beginning of the year to the end of the next reporting period, indicating potential significant changes compared to the prior year due to uncertainties surrounding the proposed sale of some Guohai Securities shares - The company warns that the cumulative net profit from the beginning of the year to the end of the next reporting period is uncertain due to the uncertainty of the proposed sale of some Guohai Securities shares[30](index=30&type=chunk) [Part IV. Appendix](index=12&type=section&id=Part%20IV.%20Appendix) This section contains the company's unaudited financial statements, including balance sheets, income statements, and cash flow statements [4.1 Financial Statements](index=12&type=section&id=4.1%20Financial%20Statements) This appendix includes the company's unaudited consolidated and parent company balance sheets as of September 30, 2016, consolidated and parent company income statements for January-September 2016, and consolidated and parent company cash flow statements for January-September 2016 [Consolidated Balance Sheet](index=12&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2016, the company's consolidated total assets were **10.93 billion RMB**, total liabilities were **8.04 billion RMB**, and total equity attributable to owners of the parent company was **2.56 billion RMB** Consolidated Balance Sheet | Item | Period-end Balance (RMB) | Beginning of Year Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 10.93 billion | 9.25 billion | | Total Liabilities | 8.04 billion | 6.21 billion | | Total Equity Attributable to Owners of Parent Company | 2.56 billion | 2.68 billion | [Parent Company Balance Sheet](index=14&type=section&id=Parent%20Company%20Balance%20Sheet) As of September 30, 2016, the parent company's total assets were **9.35 billion RMB**, total liabilities were **6.45 billion RMB**, and total shareholders' equity was **2.90 billion RMB** Parent Company Balance Sheet | Item | Period-end Balance (RMB) | Beginning of Year Balance (RMB) | | :--- | :--- | :--- | | Total Assets | 9.35 billion | 7.60 billion | | Total Liabilities | 6.45 billion | 4.49 billion | | Total Shareholders' Equity | 2.90 billion | 3.11 billion | [Consolidated Income Statement](index=16&type=section&id=Consolidated%20Income%20Statement) For January-September 2016, the company achieved consolidated total operating revenue of **3.41 billion RMB**, operating profit of **168.45 million RMB**, net profit of **129.87 million RMB**, with **103.53 million RMB** attributable to owners of the parent company Consolidated Income Statement | Item | YTD as of Report Period End (Jan-Sep) Amount (RMB) | | :--- | :--- | | Total Operating Revenue | 3.41 billion | | Operating Profit | 168.45 million | | Net Profit | 129.87 million | | Net Profit Attributable to Owners of Parent Company | 103.53 million | [Parent Company Income Statement](index=21&type=section&id=Parent%20Company%20Income%20Statement) For January-September 2016, the parent company achieved operating revenue of **957.24 million RMB**, operating profit of **1.45 million RMB**, and a net loss of **5.79 million RMB** Parent Company Income Statement | Item | YTD as of Report Period End (Jan-Sep) Amount (RMB) | | :--- | :--- | | Operating Revenue | 957.24 million | | Operating Profit | 1.45 million | | Net Profit | -5.79 million | [Consolidated Cash Flow Statement](index=23&type=section&id=Consolidated%20Cash%20Flow%20Statement) For January-September 2016, the company's consolidated net cash flow from operating activities was **39.92 million RMB**, net cash flow from investing activities was **-956.27 million RMB**, net cash flow from financing activities was **1.72 billion RMB**, and cash and cash equivalents at period end were **1.84 billion RMB** Consolidated Cash Flow Statement | Item | YTD as of Report Period End (Jan-Sep) Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | 39.92 million | | Net Cash Flow from Investing Activities | -956.27 million | | Net Cash Flow from Financing Activities | 1.72 billion | | Cash and Cash Equivalents at Period End | 1.84 billion | [Parent Company Cash Flow Statement](index=25&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) For January-September 2016, the parent company's net cash flow from operating activities was **142.30 million RMB**, net cash flow from investing activities was **-2.18 billion RMB**, net cash flow from financing activities was **1.87 billion RMB**, and cash and cash equivalents at period end were **584.82 million RMB** Parent Company Cash Flow Statement | Item | YTD as of Report Period End (Jan-Sep) Amount (RMB) | | :--- | :--- | | Net Cash Flow from Operating Activities | 142.30 million | | Net Cash Flow from Investing Activities | -2.18 billion | | Net Cash Flow from Financing Activities | 1.87 billion | | Cash and Cash Equivalents at Period End | 584.82 million |

2016 年半年度报告 公司代码：600310 公司简称：桂东电力 广西桂东电力股份有限公司 2016 年半年度报告 董事长（签字）：秦敏 2016 年 8 月 16 日 1 / 129 2016 年半年度报告 重要提示 一、本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人秦敏、主管会计工作负责人李均毅及会计机构负责人（会计主管人员）苏虹声明： 保证半年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 无。 六、 前瞻性陈述的风险声明 本报告所涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺，请投资者注意投资 风险。 七、 是否存在被控股股东及其关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况？ 否 九、 重大风险提示 无 2 / 129 | 第一节 | 释义 4 | | --- | --- | | 第二节 | 公司简介 4 | | 第三节 ...

2016 年第一季度报告 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人秦敏、主管会计工作负责人李均毅及会计机构负责人（会计主管人员）苏虹保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 公司代码：600310 公司简称：桂东电力 广西桂东电力股份有限公司 2016 年第一季度报告 1 / 21 | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 11 | 2016 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | --- | --- | --- | --- | | 总资产 | 11,777,012,235.99 | 9,245,850 ...

2015 年年度报告 公司代码：600310 公司简称：桂东电力 广西桂东电力股份有限公司 2015 年年度报告 董事长（签字）：秦敏 2016 年 3 月 28 日 1 / 180 2015 年年度报告 重要提示 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 经公司审计机构大信会计师事务所（特殊普通合伙）审计（大信审字【2016】第5-00125号 ），母公司2015年度实现净利润为435,740,007.16元，依照《公司法》和本公司章程的规定，在净 利润中提取10%公积金43,574,000.72元后，当年实现的可供股东分配的利润为392,166,006.44元 ，加上期初留存的未分配利润359,562,533.21元，减去2015年已分配2014年现金红利 77,259,000.00元、2015年中期分配现金红利66,222,000.00元和未分配利润转增股本 275,925,000.00元，2015年度实际可供股东分配的净利润为332,322,539.65元。根据公司的实际 情况，公司董事会建议本次分配方案为：可供股东分配的利润332,322,539.65元以2015年期末总 股本82 ...

2015 年第三季度报告 公司代码：600310 公司简称：桂东电力 广西桂东电力股份有限公司 2015 年第三季度报告 1 / 25 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 12 | 2015 年第三季度报告 一、 重要提示 二、 公司主要财务数据和股东变化 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | --- | | | | | | 减(%) | | | 总资产 | 8,311,141,731.99 | 9,262,540,627.20 | | | -10.27 | | 归属于上市公司股 | 2,230,883,467.25 | 3,770,920,301.30 | | | -40.84 | | 东的净资产 | | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | | 比上 ...

2015 年半年度报告 公司代码：600310 公司简称：桂东电力 广西桂东电力股份有限公司 2015 年半年度报告 董事长（签字）：秦敏 2015 年 8 月 10 日 1 / 118 2015 年半年度报告 重要提示 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 经公司审计机构大信会计师事务所（特殊普通合伙）审计（大信审字【2015】第 5-00288 号）， 母公司 2015 年 1-6 月实现净利润为 462,972,916.81 元，加年初未分配利润 282,303,533.21 元, 截止 2015 年 6 月 30 日，公司实际可供股东分配的净利润为 745,276,450.02 元。根据公司控股股 东的提议及结合本次分配需要，公司董事会建议本次分配预案为：可供股东分配的利润 745,276,450.02 元以 2015 年 6 月 30 日总股本 275,925,000 股为基数，向全体股东每 10 股派送 红股 10 股（含税）并派发现金红利 2.4 元（含税），共计派送红股 275,925,000 股，派发现金股 利 66,222,000 元。以资本公积金向全体股东每 10 ...

2015 年第一季度报告 公司代码：600310 公司简称：桂东电力 广西桂东电力股份有限公司 2015 年第一季度报告 1 / 20 | 一、重要提示 | | 3 | | --- | --- | --- | | 二、公司主要财务数据和股东变化 | | 3 | | 三、重要事项 | | 6 | | 四、附录 | | 10 | 2015 年第一季度报告 一、 重要提示 1.4 本公司第一季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | | | | | 减(%) | | | 总资产 | 9,314,694,832.46 | 9,262,540,627.20 | | 0.56 | | 归属于上市公司 | 3,912,384,076.50 | 3,817,352,339.92 | | 2.49 | | 股东的净资产 | | | | | | | 年初至报告期末 | 上年初至上年报告期末 | 比上年同期增减(%) | | | 经营活动产生的 ...

2014 年年度报告 公司代码：600310 公司简称：桂东电力 广西桂东电力股份有限公司 2014 年年度报告 董事长（签字）：秦敏 2015 年 3 月 26 日 1 / 135 2014 年年度报告 重要提示 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 经公司审计机构大信会计师事务所（特殊普通合伙）审计（大信审字【2015】第 5-00106 号）， 母公司 2014 年度实现净利润为 432,780,580.18 元，依照《公司法》和本公司章程的规定，在净 利润中提取 10%公积金 43,278,058.02 元后，加年初未分配利润 11,848,845.81 元,2014 年度实际 可供股东分配的净利润为 401,351,367.97 元。根据公司的实际情况，公司董事会建议本次分配方 案为：可供股东分配的利润 401,351,367.97 元以 2014 年期末总股本 27,592.5 万股为基数，向全 体股东每 10 股派现金 2.80 元（含税），合计派现 77,259,000.00 元，剩余 324,092,367.97 元结 转下一年度。本次不送红股，也不实施公积金转增股本。 ...

[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) The company's management affirms the truthfulness and completeness of this unaudited quarterly report [Important Notice](index=3&type=section&id=1.1%20Important%20Notice) This chapter contains the standard declaration for the quarterly report, with the company's board of directors, supervisory board, and senior management ensuring the report's truthfulness, accuracy, and completeness, and confirming it is unaudited - Company management guarantees the truthfulness, accuracy, and completeness of this quarterly report, with no false records, misleading statements, or major omissions[6](index=6&type=chunk) - This company's third-quarter report is unaudited[6](index=6&type=chunk) [Key Financial Data and Shareholder Changes](index=3&type=section&id=Item%20II.%20Key%20Financial%20Data%20and%20Shareholder%20Changes) The company experienced a significant performance decline in the first three quarters of 2014, with concentrated equity ownership and institutional investor presence [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) In the first three quarters of 2014, the company experienced a significant performance decline, with operating revenue decreasing by 19.63% and net profit attributable to shareholders by 31.65%, while net cash flow from operating activities turned negative, indicating substantial pressure on core operations Key Financial Data for the First Three Quarters of 2014 | Indicator | Year-to-Date (Jan-Sep) | Prior Year-to-Date (Jan-Sep) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 1,338,664,546.64 Yuan | 1,665,674,577.56 Yuan | -19.63% | | Net Profit Attributable to Shareholders of Listed Company | 52,174,890.12 Yuan | 76,333,378.31 Yuan | -31.65% | | Net Cash Flow from Operating Activities | -8,705,827.50 Yuan | 345,206,071.87 Yuan | -102.52% | | Basic Earnings Per Share (Yuan/share) | 0.1891 | 0.2766 | -31.63% | | Weighted Average Return on Net Assets (%) | 1.66% | 2.41% | Decreased by 0.75 percentage points | - During the reporting period, non-recurring gains and losses totaled **26.4371 million Yuan**, primarily comprising government subsidies of **29.0023 million Yuan**, positively impacting current period profit[10](index=10&type=chunk) [Shareholder Information](index=4&type=section&id=2.2%20Total%20Number%20of%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Circulating%20Shareholders%20(or%20Non-Restricted%20Shareholders)%20as%20of%20the%20End%20of%20the%20Reporting%20Period) As of the end of the reporting period, the company had **16,338 shareholders**, with controlling shareholder Guangxi Zhengrun Development Group Co., Ltd. holding **52.21%**, indicating a highly concentrated equity structure, and several institutional investors among the top ten - As of the end of the reporting period, the company had a total of **16,338 shareholders**[12](index=12&type=chunk) Top Five Shareholders' Holdings | Shareholder Name | Shares Held at Period End | Proportion (%) | | :--- | :--- | :--- | | Guangxi Zhengrun Development Group Co., Ltd. | 144,049,329 | 52.21 | | Shen Zhenguo | 6,680,200 | 2.42 | | CITIC Securities Co., Ltd. | 2,721,418 | 0.99 | | Bank of Communications - ChinaAMC Blue Chip Core Mixed Fund (LOF) | 2,499,940 | 0.91 | | National Social Security Fund 413 Portfolio | 2,246,818 | 0.81 | [Significant Events](index=6&type=section&id=Item%20III.%20Significant%20Events) The company experienced significant financial statement changes, ongoing issues with subsidiary receivables, and warned of future performance uncertainty, while fulfilling commitments and adjusting to new accounting standards [Analysis of Significant Changes in Key Financial Statement Items and Indicators](index=6&type=section&id=3.1%20Significant%20Changes%20in%20the%20Company%27s%20Key%20Financial%20Statement%20Items%20and%20Indicators%20and%20Their%20Causes) During the reporting period, the company saw significant changes across its financial statements, including a 73.48% decrease in notes receivable and a 103.00% surge in accounts receivable due to delayed subsidiary sales collections, alongside a 276.34% increase in asset impairment losses and a 616.29% decrease in other comprehensive income, while operating cash flow deteriorated by 102.52% Major Balance Sheet Changes | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Notes Receivable | -73.48% | Notes matured and honored, and some commercial acceptance bills defaulted and converted to accounts receivable | | Accounts Receivable | 103.00% | Wholly-owned subsidiary Qinzhou Yongsheng's sales for the period were not collected in a timely manner | | Notes Payable | -100.00% | Bank acceptance bills matured and paid in the current period | Major Income Statement Changes | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Asset Impairment Losses | 276.34% | Increase in receivables, leading to a corresponding increase in bad debt provisions | | Investment Income | 310.06% | Increased dividends received from Guohai Securities and Guilin Bank year-on-year | | Other Comprehensive Income | -616.29% | Fair value of Guohai Securities shares held decreased significantly year-on-year | - Net cash flow from operating activities decreased by **102.52%** year-on-year, primarily due to a significant reduction in net cash inflow from the trading activities of wholly-owned subsidiary Qinzhou Yongsheng compared to the previous period[18](index=18&type=chunk) [Progress of Significant Events](index=7&type=section&id=3.2%20Analysis%20and%20Explanation%20of%20the%20Progress%2C%20Impact%2C%20and%20Solutions%20for%20Significant%20Events) The company faced immense operating pressure in the first three quarters, with net profit declining by 31.65% due to poor power business performance and significant losses from subsidiaries Guizhou Electronics and Qinzhou Yongsheng, while substantial outstanding advance payments and accounts receivable from Qinzhou Yongsheng highlighted high recovery risks - Net profit for the first three quarters was **52.1749 million Yuan**, a year-on-year decrease of **31.65%**, primarily dragged down by losses of **33.9437 million Yuan** from controlled subsidiary Guidong Electronics and **33.8446 million Yuan** from wholly-owned subsidiary Qinzhou Yongsheng[19](index=19&type=chunk) - Significant trade advance payments and inventory issues highlighted in the 2013 audit report remain unresolved, with no substantial progress in recovering multiple payments (such as advances and receivables from Guangzhou Bocai and Liuzhou Zhengling), indicating high bad debt risk[20](index=20&type=chunk)[21](index=21&type=chunk)[22](index=22&type=chunk) - The company has revised down its 2014 operating plan, projecting a reduction in operating revenue of approximately **1.1 billion Yuan** and a reduction in total costs and expenses of approximately **1.099 billion Yuan**[23](index=23&type=chunk) - During the reporting period, the company cumulatively sold **3 million shares** of Guohai Securities stock and plans to opportunistically sell no more than **100 million shares** within one year[25](index=25&type=chunk) [Fulfillment of Commitments](index=9&type=section&id=3.3%20Fulfillment%20of%20Commitments%20by%20the%20Company%20and%20Shareholders%20Holding%205%25%20or%20More) During the reporting period, commitments by the company and shareholders holding 5% or more were being fulfilled, including the controlling shareholder's pledge to initiate a management equity incentive plan under specific performance conditions - The controlling shareholder committed that if the company meets specific conditions regarding stock price, return on net assets, and net profit growth rate during 2014-2016, a management equity incentive plan could be launched in 2017, and this commitment is currently being fulfilled[28](index=28&type=chunk) [Performance Forecast and Risk Warning](index=10&type=section&id=3.4%20Warning%20and%20Explanation%20of%20Reasons%20for%20Potential%20Cumulative%20Net%20Profit%20Loss%20or%20Significant%20Change%20Compared%20to%20the%20Same%20Period%20Last%20Year%20from%20Year-Beginning%20to%20the%20End%20of%20the%20Next%20Reporting%20Period) The company warns of significant uncertainty in cumulative net profit for the period from year-beginning to the next reporting period, primarily due to substantial recovery and loss risks associated with Qinzhou Yongsheng's receivables and advance payments, and the uncertain impact of planned Guohai Securities stock sales - Risk one: Wholly-owned subsidiary Qinzhou Yongsheng has significant accounts receivable and advance payments, posing substantial recovery and loss risks that could materially negatively impact the company's net profit[28](index=28&type=chunk) - Risk two: The company plans to sell no more than **100 million shares** of Guohai Securities stock, which could significantly impact 2014 and 2015 performance but carries substantial uncertainty[29](index=29&type=chunk) [Impact of New Accounting Standards](index=11&type=section&id=3.5%20Impact%20of%20Implementing%20New%20Accounting%20Standards%20on%20Consolidated%20Financial%20Statements) The company reclassified certain non-significant equity investments from 'long-term equity investments' to 'available-for-sale financial assets' under new accounting standards, a change that only affects statement presentation and has no impact on total assets, net assets, or net profit for 2013 or the current period - Due to the implementation of new long-term equity investment standards, the company reclassified investments totaling **116 million Yuan** in entities like Guilin Bank from 'long-term equity investments' to 'available-for-sale financial assets'[31](index=31&type=chunk) - This accounting policy change only affects the amounts of statement items and has no impact on the company's total assets, total liabilities, net assets, or net profit[31](index=31&type=chunk) [Appendix](index=12&type=section&id=Item%20IV.%20Appendix) This section provides the company's unaudited consolidated and parent company financial statements for the third quarter of 2014, including the balance sheet, income statement, and cash flow statement [Financial Statements](index=12&type=section&id=4.1%20Financial%20Statements) This appendix includes the company's unaudited consolidated and parent company financial statements for the third quarter of 2014, comprising the balance sheet, income statement, and cash flow statement [Consolidated Balance Sheet](index=12&type=section&id=Consolidated%20Balance%20Sheet) As of September 30, 2014, the company's total assets were **7.984 billion Yuan**, a 2.84% decrease from year-end, with total liabilities at **4.622 billion Yuan** and owners' equity attributable to the parent company at **2.965 billion Yuan**, down 9.74% from year-end Major Items of Consolidated Balance Sheet (Unit: Yuan) | Item | Balance at Period End (2014-09-30) | Balance at Year Beginning (2013-12-31) | | :--- | :--- | :--- | | Total Assets | 7,983,948,335.03 | 8,217,368,927.24 | | Total Liabilities | 4,622,385,307.58 | 4,536,530,588.35 | | Total Owners' Equity Attributable to Parent Company | 2,965,413,699.92 | 3,285,590,471.81 | [Consolidated Income Statement](index=16&type=section&id=Consolidated%20Income%20Statement) For January-September 2014, the company reported total operating revenue of **1.339 billion Yuan**, a 19.63% year-on-year decrease, and net profit attributable to parent company owners of **52.1749 million Yuan**, down 31.65% year-on-year Major Items of Consolidated Income Statement (Jan-Sep) (Unit: Yuan) | Item | Current Period Amount | Prior Year Same Period Amount | | :--- | :--- | :--- | | Total Operating Revenue | 1,338,664,546.64 | 1,665,674,577.56 | | Operating Profit | 61,095,233.92 | 108,461,059.00 | | Total Profit | 93,292,131.65 | 126,526,357.25 | | Net Profit Attributable to Parent Company Owners | 52,174,890.12 | 76,333,378.31 | [Consolidated Cash Flow Statement](index=19&type=section&id=Consolidated%20Cash%20Flow%20Statement) For January-September 2014, net cash flow from operating activities was **-8.7058 million Yuan**, a significant deterioration from **345.206 million Yuan** in the prior year, with net cash outflow from investing activities at **53.7355 million Yuan** and net cash inflow from financing activities at **183.0204 million Yuan** Major Items of Consolidated Cash Flow Statement (Jan-Sep) (Unit: Yuan) | Item | Current Period Amount | Prior Year Same Period Amount | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -8,705,827.50 | 345,206,071.87 | | Net Cash Flow from Investing Activities | -53,735,546.86 | -306,263,651.06 | | Net Cash Flow from Financing Activities | 183,020,401.80 | 27,198,227.80 | | Net Increase in Cash and Cash Equivalents | 120,693,581.93 | 65,882,575.27 |

广西桂东电力股份有限公司 2014 年半年度报告 1 广西桂东电力股份有限公司 2014 年半年度报告 2 | | | 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。公司 2014 年半年度报告已经公司 5 届 30 次董事会审议通过。 三、 公司半年度财务报告未经审计。 四、 公司负责人秦敏先生、主管会计工作负责人陈其中先生及会计机构负责人（会计主管人员） 苏虹女士声明：保证本半年度报告中财务报告的真实、准确、完整。 五、 本报告所涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺，请投资者注意投资 风险。 六、 是否存在被控股股东及其关联方非经营性占用资金情况？ 否 七、 是否存在违反规定决策程序对外提供担保的情况？ 否 | 第一节 | 释义 4 | | --- | --- | | 第二节 | 公司简介 5 | | 第三节 | 会计数据和财务指标摘要 6 | | 第四节 | 董事会报告 7 | | 第五节 | 重要事项 16 | | 第六节 | ...