粤电力Ｂ：2025年三季度报告（英文版）

AnnouncementNo.：2025-48 GuangdongElectricPowerDevelopmentCo.,Ltd. TheThirdQuarterlyReport2025 TheCompanyanditsdirectorsherebyguaranteethatthecontentofinformationdisclosureisreal, accurate,completeandfreefromanyfalserecord,misleadingrepresentationormaterialomissions. Importantcontentreminder: 1.TheBoardofDirectors,thedirectors andtheseniorexecutivesoftheCompanyguaranteethattherearenosignificantomissions,fictitiousormisleadingstatementscarriedintheReportandwewillacceptindividualandjointresponsibilitiesforthetruthfulness,accuracyandcompletenessoftheReport. 2.TheCompanyleader,Chieffinancialofficer,thepersoninchargeoftheaccountingdepartment(thepersoninchargeoftheaccounting)herebyconfirmtheauthenticityandcompletenessofthefinancialreportenclosedinthisreport. 3.WhethertheThirdQuarterlyFinancialReporthasbeenauditedornot □Yes√No I.Mainfinancialdata (I)Mainaccountingdataandfinancialindexes InRMB FortheCompany’snon-recurringgain/lossitemsasdefinedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesOfferingtheirSecuritiestothePublic-Non-recurringGainsandLossesanditsnon-recurringgain/lossitemsasillustratedintheExplanatoryAnnouncementNo.1oninformationdisclosureforCompaniesofferingtheirsecuritiestothepublic-non-recurringGainsandlosseswhichhavebeendefinedasrecurringgainsandlosses,itisnecessarytoexplainthereason. (III)Particularsaboutchangesinitemsofmainaccountingdataandfinancialindexandexplanationsofreasons √Applicable□Notapplicable Inthethirdquarterof2025,theCompany,onaconsolidatedbasis,achievedagrid-connectedelectricityoutputof35.206billionkWh,anincreaseof19.89%comparedwiththesecondquarter,Inthefirstthreequartersof2025,thecompanycompletedatotalof88.572billionkwhofelectricitygeneratedintheconsolidatedstatement,Itwasbasicallyflatyear-on-year,ofwhich:61.873billionkwhofcoalpower,withayear-on-yeardecreaseof3.61%,18.939billionkwhofgaspower,Itwasbasicallyflatyear-on-year,3.796billionkwhofwindpower,withayear-on-yearincreaseof10.83%,375millionkwhofhydropower,withayear-on-yearincreaseof13.51%，478millionkwhofbiomass,withayear-on-yearincreaseof9.40%,3.111billionkwhofphotovoltaicpower,withayear-on-yearincreaseof80.57%,andtheaverageon-gridelectricitypriceintheconsolidatedstatementwas473.34yuan/thousandkWh(includingtax,thesamebelow),aYOYdecreaseof59.92yuan/thousandkWh,oradecreaseof11.26%. Duringthefirstthreequartersof2025,intensifiedcompetitionintheelectricitymarketandrelatedpolicyadjustmentsledtoasignificantyear-on-yeardeclineinthecompany'sgrid-connectedelectricityprices.Thisresultedinrevenuefromexistingpowergenerationprojectsfallingmoresharplythancosts,whileincrementalrevenuefromnewlycommissionedgas-firedandrenewableenergyprojectsfailedtooffsetincrementalcosts.Consequently,averagegrossprofitfrompowergenerationdecreased,causingoverallperformancetodeclinesubstantiallycomparedtothesameperiodlastyear.Thecompanyfocusedoninternalefficiencygains,strivingtoenhanceoperationaleffectiveness.Thisdroveaquarter-on-quarterrecoveryingrid-connectedelectricitygenerationduringthethirdquarter.Benefitingfromacombinationoffavourablefactors—includingquarter-on-quarterdeclinesincoalandgasprices,anincreaseinthecapacitytariffforgas-firedpower,andyear-on-yearimprovementsinoffshorewindandsolarresources—thecompanyachievedaquarter-on-quarterincreaseinprofitscale,withitsoperationalfundamentalsshowingsignsofimprovement.Forthefirstthreequarters,thecompanyrecordedanetprofitattributabletoshareholdersoflistedcompaniesof583.94millionyuan,withearningspershareof0.1112yuan,representingayear-on-yeardecreaseof60.20%.Thenon-recurringnetprofitattributabletoshareholdersoflistedcompaniesstood510.37millionyuan,down65.68%year-on-year. TranslatedwithDeepL.com(freeversion)II.ShareholdersInformation (I)Totalnumberofcommonshareholdersandpreferenceshareholderswithvotingrightsrecoveredandtoptencommonshareholders Inshares Informationofshareholdersholdingmorethan5%oftheshares,thetop10shareholdersandthetop10shareholdersofunrestrictedtradablesharesparticipatinginthelendingofsharesinsecuritieslendingandborrowingbusiness □Applicable√Notapplicable Thetop10shareholdersandthetop10shareholdersofunrestrictedtradableshareshavechangedcomparedwiththepreviousperiodduetothesecuritieslending/returning, □Applicable√Notapplicable (II)Totalnumberofpreferredshareholdersandshareholdingoftop10preferredshareholdersbytheendofthereportperiod III.Otherimportantmatters □Applicable√Notapplicable IV.Quarterlyfinancialstatements （i）Financialstatement 1.Consolidatedbalancesheet Preparedby:GuangdongElectricPowerDevelopmentCo.,Ltd. September30,2025 InRMB LegalRepresentative:ZhengYunpengPersoninchargeofaccounting：LiuWeiAccountingDeptLeader:MengFei InRMB （ii）TheCompanystartedimplementingtheupdatedaccountingstandardscommencingfrom2025andadjustedtherelevantitemsinthefinancialstatementsatthebeginningoftheveryyearinvolvedinthe initialimplementationofthesaidstandards □Applicable√Notapplicable （iii）Auditor’sreport WhethertheThirdQuarterlyfinancialreporthasbeenauditedornot□Ye