Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | HUANENG POWER INTERNATIONAL, INC. |
Entity Central Index Key | 0000929058 |
Current Fiscal Year End Date | --12-31 |
Document Registration Statement | false |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
Entity File Number | 1-13314 |
Entity Incorporation, State or Country Code | F4 |
Entity Address, Address Line One | HUANENG BUILDING |
Entity Address, Address Line Two | 6 FUXINGMENNEI STREET, XICHENG DISTRICT |
Entity Address, City or Town | BEIJING |
Entity Address, Country | CN |
Document Accounting Standard | International Financial Reporting Standards |
ICFR Auditor Attestation Flag | true |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Business Contact | |
Document Information [Line Items] | |
Entity Address, Address Line One | HUANENG BUILDING |
Entity Address, Address Line Two | 6 FUXINGMENNEI STREET, XICHENG DISTRICT |
Entity Address, City or Town | BEIJING |
Entity Address, Country | CN |
Contact Personnel Name | Mr. Huang Chaoquan |
Country Region | 86 |
City Area Code | 10 |
Local Phone Number | 6322 6999 |
Contact Personnel Fax Number | 86 (10) 6322 6888 |
American depositary shares | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depositary Shares Each Representing 40 Overseas Listed Shares |
Trading Symbol | HNP |
Security Exchange Name | NYSE |
Overseas listed foreign shares | |
Document Information [Line Items] | |
Title of 12(b) Security | Overseas Listed Shares with Par Value of RMB1.00 Per Share |
No Trading Symbol Flag | true |
Entity Common Stock, Shares Outstanding | 4,700,383,440 |
A shares | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 10,997,709,919 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Consolidated Statements of Comprehensive Income | |||
Operating revenue | ¥ 169,446,338 | ¥ 174,009,401 | ¥ 169,550,624 |
Tax and levies on operations | (1,794,004) | (1,832,975) | (1,788,998) |
Operating expenses | |||
Fuel | (88,966,304) | (97,686,799) | (105,736,173) |
Maintenance | (5,001,982) | (4,606,171) | (4,393,335) |
Depreciation | (22,146,316) | (21,864,903) | (20,466,423) |
Labor | (14,503,290) | (13,514,752) | (11,845,280) |
Service fees on transmission and transformer facilities of HIPDC | (95,894) | (95,067) | (96,721) |
Purchase of electricity | (4,720,261) | (5,151,578) | (4,678,431) |
Others | (20,300,072) | (16,879,425) | (10,430,998) |
Total operating expenses | (155,734,119) | (159,798,695) | (157,647,361) |
Profit from operations | 11,918,215 | 12,377,731 | 10,114,265 |
Interest income | 292,724 | 264,554 | 234,604 |
Financial expenses, net | |||
Interest expense | (9,200,612) | (10,762,718) | (10,486,412) |
Exchange gain/(loss) and bank charges, net | 100,643 | (210,422) | (160,899) |
Total financial expenses, net | (9,099,969) | (10,973,140) | (10,647,311) |
Share of profits less losses of associates and joint ventures | 1,774,322 | 1,185,622 | 1,823,415 |
(Loss)/gain on fair value changes of financial assets/liabilities | (1,566) | 36,667 | 726,843 |
Other investment (loss)/income | (109,990) | 228,026 | (278,669) |
Profit before income tax expense | 4,773,736 | 3,119,460 | 1,973,147 |
Income tax expense | (2,163,173) | (2,011,255) | (643,173) |
Net profit | 2,610,563 | 1,108,205 | 1,329,974 |
Items that will not be reclassified to profit or loss: | |||
Fair value changes of other equity instrument investments | (175,984) | (61,652) | 1,381 |
Share of other comprehensive (loss)/income of joint ventures and associates | (178,501) | 367,528 | (18,858) |
Income tax effect | 43,996 | 15,413 | (345) |
Items that may be reclassified subsequently to profit or loss | |||
Share of other comprehensive (loss)/income of joint ventures and associates | (4,348) | 1,168 | (241,587) |
Cash flow hedges: | |||
Effective portion of changes in fair value of hedging instruments arising during the year | (166,323) | 264,691 | (167,647) |
Reclassification adjustments for losses/(gains) included in profit or loss | 414,821 | (119,793) | (436,846) |
Exchange differences on translation of foreign operations | (862,454) | 128,494 | 343,702 |
Income tax effect | (42,245) | (24,962) | 101,311 |
Other comprehensive (loss)/income, net of tax | (971,038) | 570,887 | (418,889) |
Total comprehensive income | 1,639,525 | 1,679,092 | 911,085 |
Net profit attributable to: | |||
Equity holders of the Company | 2,377,851 | 766,345 | 734,435 |
Non-controlling interests | 232,712 | 341,860 | 595,539 |
Net profit | 2,610,563 | 1,108,205 | 1,329,974 |
Total comprehensive income attributable to: | |||
Equity holders of the Company | 1,599,471 | 1,498,013 | 340,101 |
Non-controlling interests | 40,054 | 181,079 | 570,984 |
Total comprehensive income | ¥ 1,639,525 | ¥ 1,679,092 | ¥ 911,085 |
Earnings per share attributable to the shareholders of the Company (expressed in RMB per share) | |||
Basic and diluted | ¥ 0.04 | ¥ 0.01 | ¥ 0.03 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Non-current assets | ||
Property, plant and equipment | ¥ 300,171,142 | ¥ 285,622,907 |
Right-of-use assets | 18,292,074 | 17,168,072 |
Investments in associates and joint ventures | 22,375,377 | 20,783,259 |
Investment properties | 647,471 | 671,710 |
Other equity instrument investments | 664,946 | 779,218 |
Power generation licenses | 3,954,983 | 4,149,468 |
Mining rights | 1,611,486 | 1,577,505 |
Deferred income tax assets | 2,699,395 | 2,160,187 |
Derivative financial assets | 74,554 | 16,376 |
Goodwill | 14,738,016 | 15,934,955 |
Other non-current assets | 18,537,583 | 18,605,005 |
Total non-current assets | 383,767,027 | 367,468,662 |
Current assets | ||
Inventories | 6,602,459 | 8,883,183 |
Other receivables and assets | 7,308,077 | 6,217,763 |
Accounts and notes receivable | 38,215,715 | 32,268,939 |
Contract assets | 29,678 | 30,466 |
Derivative financial assets | 110,179 | 74,911 |
Bank balances and cash | 13,871,523 | 13,306,139 |
Total current assets | 66,137,631 | 60,781,401 |
Total assets | 449,904,658 | 428,250,063 |
Capital and reserves attributable to equity holders of the Company | ||
Share capital | 15,698,093 | 15,698,093 |
Other equity instruments | 48,419,779 | 25,127,821 |
Capital surplus | 26,162,550 | 26,215,137 |
Surplus reserves | 8,140,030 | 8,140,030 |
Currency translation differences | (738,927) | (54,812) |
Retained earnings | 32,164,398 | 33,677,466 |
Capital and reserves attributable to equity holders of the Company | 129,845,923 | 108,803,735 |
Non-controlling interests | 21,770,275 | 21,575,311 |
Total equity | 151,616,198 | 130,379,046 |
Non-current liabilities | ||
Long-term loans | 112,077,395 | 115,364,598 |
Long-term bonds | 20,382,405 | 28,487,115 |
Lease liabilities | 3,805,635 | 4,279,925 |
Deferred income tax liabilities | 3,002,527 | 3,137,791 |
Derivative financial liabilities | 188,139 | 200,408 |
Other non-current liabilities | 4,784,268 | 4,780,770 |
Total non-current liabilities | 144,240,369 | 156,250,607 |
Current liabilities | ||
Accounts payable and other liabilities | 42,755,361 | 37,270,081 |
Contract liabilities | 2,903,296 | 2,706,529 |
Taxes payable | 2,044,869 | 2,101,617 |
Dividends payable | 694,854 | 1,191,036 |
Derivative financial liabilities | 106,862 | 250,300 |
Short-term bonds | 5,002,877 | 9,025,535 |
Short-term loans | 66,311,160 | 67,119,368 |
Current portion of long-term loans | 19,808,313 | 18,658,114 |
Current portion of long-term bonds | 12,678,511 | 2,799,808 |
Current portion of lease liabilities | 1,676,711 | 432,745 |
Current portion of other non-current liabilities | 65,277 | 65,277 |
Total current liabilities | 154,048,091 | 141,620,410 |
Total liabilities | 298,288,460 | 297,871,017 |
Total equity and liabilities | ¥ 449,904,658 | ¥ 428,250,063 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - CNY (¥) ¥ in Thousands | Share capital. | Other equity instruments. | Share premium [member] | Hedging reserve [member] | Fair value reserve of financial assets at fair value through other comprehensive income [member] | Other reserve in other comprehensive income [member] | Other capital reserve [member] | Capital surplus [member] | Surplus reserve [member] | Currency translation differences [member] | Retained earnings [member] | Attributable to equity holders of the Company [member] | Non-controlling interests [member] | Total |
Balance at end of prior year at Dec. 31, 2017 | ¥ 15,200,383 | ¥ 5,068,550 | ¥ 22,250,503 | ¥ 38,769 | ¥ 713,514 | ¥ 1,111,614 | ¥ 24,114,400 | ¥ 8,140,030 | ¥ (675,054) | ¥ 35,793,257 | ¥ 87,641,566 | ¥ 19,973,038 | ¥ 107,614,604 | |
Impact on initial application of IFRS 9 at Dec. 31, 2017 | ¥ 944,603 | (574,657) | 369,946 | 369,946 | 369,946 | |||||||||
Balance at period start at Dec. 31, 2017 | 15,200,383 | 5,068,550 | 22,250,503 | 38,769 | 944,603 | 138,857 | 1,111,614 | 24,484,346 | 8,140,030 | (675,054) | 35,793,257 | 88,011,512 | 19,973,038 | 107,984,550 |
Profit | 342,349 | 392,086 | 734,435 | 595,539 | 1,329,974 | |||||||||
Other comprehensive income/(loss): | ||||||||||||||
Fair value changes of other equity investment instruments - net of tax | 1,059 | 1,059 | 1,059 | (23) | 1,036 | |||||||||
Shares of other comprehensive income of investees - accounted for under the equity method, net of tax | (18,858) | (241,587) | (260,445) | (260,445) | (260,445) | |||||||||
Changes in fair value of effective portion and reclassification of cash flow hedges, net of tax | (469,665) | (469,665) | (469,665) | (33,517) | (503,182) | |||||||||
Currency translation differences | 334,717 | 334,717 | 8,985 | 343,702 | ||||||||||
Total comprehensive income | 342,349 | (469,665) | (17,799) | (241,587) | (729,051) | 334,717 | 392,086 | 340,101 | 570,984 | 911,085 | ||||
Business combination | 1,590,753 | 1,590,753 | ||||||||||||
Issue of new A shares, net of issue expenses | 497,710 | 2,747,620 | 2,747,620 | 3,245,330 | 3,245,330 | |||||||||
Issue of other equity instruments | 5,000,000 | 5,000,000 | 5,000,000 | |||||||||||
Dividends relating to last year (Note 22) | (1,520,038) | (1,520,038) | (797,858) | (2,317,896) | ||||||||||
Cumulative distribution of other equity instruments (Note 22) | (333,503) | (333,503) | (333,503) | |||||||||||
Net capital injection from non-controlling interests of subsidiaries | 726,531 | 726,531 | ||||||||||||
Acquisition of non-controlling interests of subsidiaries | (227,441) | (227,441) | (227,441) | (377,196) | (604,637) | |||||||||
Share of other capital reserve of investees accounted for under the equity method | (80,543) | (80,543) | (80,543) | (80,543) | ||||||||||
Balance at period end at Dec. 31, 2018 | 15,698,093 | 10,077,396 | 24,770,682 | (430,896) | 926,804 | (102,730) | 1,031,071 | 26,194,931 | 8,140,030 | (340,337) | 34,665,305 | 94,435,418 | 21,686,252 | 116,121,670 |
Profit | 685,922 | 80,423 | 766,345 | 341,860 | 1,108,205 | |||||||||
Other comprehensive income/(loss): | ||||||||||||||
Fair value changes of other equity investment instruments - net of tax | (55,200) | (55,200) | (55,200) | 8,961 | (46,239) | |||||||||
Shares of other comprehensive income of investees - accounted for under the equity method, net of tax | 367,528 | 1,168 | 368,696 | 368,696 | 368,696 | |||||||||
Changes in fair value of effective portion and reclassification of cash flow hedges, net of tax | 132,647 | 132,647 | 132,647 | (12,711) | 119,936 | |||||||||
Currency translation differences | 285,525 | 285,525 | (157,031) | 128,494 | ||||||||||
Total comprehensive income | 685,922 | 132,647 | 312,328 | 1,168 | 446,143 | 285,525 | 80,423 | 1,498,013 | 181,079 | 1,679,092 | ||||
Issue of other equity instruments | 14,982,165 | 14,982,165 | 14,982,165 | |||||||||||
Dividends relating to last year (Note 22) | (1,569,809) | (1,569,809) | (1,359,777) | (2,929,586) | ||||||||||
Cumulative distribution of other equity instruments (Note 22) | (617,662) | (617,662) | (617,662) | |||||||||||
Net capital injection from non-controlling interests of subsidiaries | 96,036 | 96,036 | 96,036 | 1,018,048 | 1,114,084 | |||||||||
Acquisition of non-controlling interests of subsidiaries | (20,426) | (20,426) | (20,426) | 13,624 | (6,802) | |||||||||
Disposal of a subsidiary | 36,040 | 36,040 | ||||||||||||
Deregistration of a subsidiary | 45 | 45 | ||||||||||||
Disposal of equity investments at fair value through other comprehensive income (Note 10) | (501,547) | (501,547) | 501,547 | |||||||||||
Balance at period end at Dec. 31, 2019 | 15,698,093 | 25,127,821 | 24,770,682 | (298,249) | 737,585 | (101,562) | 1,106,681 | 26,215,137 | 8,140,030 | (54,812) | 33,677,466 | 108,803,735 | 21,575,311 | 130,379,046 |
Profit | 1,770,469 | 607,382 | 2,377,851 | 232,712 | 2,610,563 | |||||||||
Other comprehensive income/(loss): | ||||||||||||||
Fair value changes of other equity investment instruments - net of tax | (131,958) | (131,958) | (131,958) | (30) | (131,988) | |||||||||
Shares of other comprehensive income of investees - accounted for under the equity method, net of tax | (178,501) | (4,348) | (182,849) | (182,849) | (182,849) | |||||||||
Changes in fair value of effective portion and reclassification of cash flow hedges, net of tax | 220,542 | 220,542 | 220,542 | (14,289) | 206,253 | |||||||||
Currency translation differences | (684,115) | (684,115) | (178,339) | (862,454) | ||||||||||
Total comprehensive income | 1,770,469 | 220,542 | (310,459) | (4,348) | (94,265) | (684,115) | 607,382 | 1,599,471 | 40,054 | 1,639,525 | ||||
Business combination | 48,103 | 48,103 | ||||||||||||
Issue of other equity instruments | 25,457,450 | 25,457,450 | 25,457,450 | |||||||||||
Redemption of other equity instruments | (2,499,844) | (156) | (2,500,000) | (2,500,000) | ||||||||||
Dividends relating to last year (Note 22) | (2,119,243) | (2,119,243) | (1,206,329) | (3,325,572) | ||||||||||
Cumulative distribution of other equity instruments (Note 22) | (1,436,117) | (1,436,117) | (1,436,117) | |||||||||||
Net capital injection from non-controlling interests of subsidiaries | 34,071 | 34,071 | 34,071 | 1,302,085 | 1,336,156 | |||||||||
Share of other capital reserve of investees accounted for under the equity method | (7,607) | (7,607) | (7,607) | (7,607) | ||||||||||
Others | (1,051) | (1,051) | 11,051 | 10,000 | ||||||||||
Balance at period end at Dec. 31, 2020 | ¥ 15,698,093 | ¥ 48,419,779 | ¥ 24,770,682 | ¥ (77,707) | ¥ 427,126 | ¥ (105,910) | ¥ 1,148,359 | ¥ 26,162,550 | ¥ 8,140,030 | ¥ (738,927) | ¥ 32,164,398 | ¥ 129,845,923 | ¥ 21,770,275 | ¥ 151,616,198 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
OPERATING ACTIVITIES | |||
Profit before income tax expense | ¥ 4,773,736 | ¥ 3,119,460 | ¥ 1,973,147 |
Adjustments to reconcile profit before income tax expense to net cash provided by operating activities: | |||
Depreciation | 21,360,798 | 21,130,076 | 20,466,423 |
Depreciation of right-of-use assets | 785,518 | 734,827 | |
Provision for impairment losses on property, plant and equipment | 7,847,378 | 5,719,990 | 989,778 |
Provision for impairment on goodwill | 685,036 | 409,371 | |
Provision for impairment on mining rights | 135,085 | ||
Impairment loss on other non-current assets | 349,559 | 464,867 | 8,432 |
Amortization of land use rights | 344,068 | ||
Amortization of other non-current assets | 128,177 | 101,902 | 105,623 |
Recognition of provision for loss allowance of receivables | 172,711 | 74,557 | 40,967 |
Recognition of provision for inventory obsolescence | 43,076 | 22,453 | 253,816 |
Loss/(gain) on fair value changes of financial assets/liabilities | 1,566 | (36,667) | (726,843) |
Other investment (gain)/loss | (8,585) | 59,996 | 278,669 |
Net loss/(gain) on disposals of non-current assets | 626,657 | (69,449) | (47,005) |
Net gain on disposal of subsidiaries | (256,009) | ||
Unrealized exchange loss, net | 103,888 | ||
Share of profits less losses of associates and joint ventures | (1,774,322) | (1,185,622) | (1,823,415) |
Interest income | (292,724) | (264,554) | (234,604) |
Interest expense | 9,200,612 | 10,762,718 | 10,486,412 |
Others | (648,651) | (250,183) | (197,393) |
Changes in working capital: | |||
Inventories | 2,244,127 | 638,055 | (1,996,075) |
Other receivables and assets | 704,927 | 82,840 | (150,782) |
Accounts and notes receivable | (6,885,418) | (3,442,544) | (3,273,058) |
Contract assets | (5,521) | (19,408) | (11,058) |
Restricted cash | (56,990) | (141,271) | (347,777) |
Accounts payable and other liabilities | 2,343,598 | (520,570) | 349,703 |
Contract liabilities | 196,767 | 730,356 | 471,721 |
Taxes payable | 3,177,908 | 1,740,068 | 2,565,786 |
Interest received | 292,724 | 264,554 | 173,986 |
Income tax expense paid | (3,275,626) | (2,136,249) | (1,620,887) |
Net cash provided by operating activities | 41,987,038 | 37,324,193 | 28,727,978 |
INVESTING ACTIVITIES | |||
Payment for the purchase of property, plant and equipment | (42,558,250) | (31,382,657) | (20,613,314) |
Proceeds from disposal of property, plant and equipment, land use rights and other non-current assets | 454,470 | 464,542 | 127,182 |
Prepayments of land use rights | (94,684) | ||
Payment for the purchase of other non-current assets | (72,699) | (113,124) | 30,107 |
Cash dividends received | 554,614 | 668,906 | 618,592 |
Capital injections for investments in associates and joint ventures | (586,261) | (313,197) | (463,259) |
Cash paid for acquiring other equity instrument investments | (61,713) | (7,450) | (450) |
Cash paid for acquiring subsidiaries, net of cash acquired | (206,414) | (71,696) | (674,845) |
Cash received from disposal of other equity instrument investments | 1,250,000 | ||
Net outflow of cash and cash equivalents in respect of the disposal of subsidiaries | (29,350) | ||
Others | 239,121 | 500,041 | 694,789 |
Net cash used in investing activities | (42,237,132) | (29,033,985) | (20,375,882) |
FINANCING ACTIVITIES | |||
Issuance of short-term bonds | 20,000,000 | 30,000,000 | 40,000,000 |
Repayments of short-term bonds | (24,000,000) | (32,500,000) | (39,500,000) |
Proceeds from short-term loans | 116,458,227 | 92,890,098 | 77,005,025 |
Repayments of short-term loans | (117,354,380) | (87,001,921) | (98,345,708) |
Proceeds from long-term loans | 52,219,578 | 27,408,223 | 48,859,376 |
Repayments of long-term loans | (54,593,490) | (43,915,444) | (34,269,623) |
Issuance of long-term bonds | 4,217,730 | 5,300,000 | 13,999,807 |
Repayments of long-term bonds | (2,800,000) | (4,000,000) | (4,000,000) |
Interest paid | (11,586,250) | (11,641,439) | (10,987,871) |
Net proceeds from the issuance of new shares | 3,245,330 | ||
Net proceeds from the issuance of other equity instruments | 25,457,450 | 14,982,165 | 5,000,000 |
Redemption of other equity instruments | (2,500,000) | ||
Net capital injection from non-controlling interests of subsidiaries | 1,155,556 | 1,016,150 | 725,683 |
Dividends paid to shareholders of the Company | (2,119,243) | (1,569,809) | (1,520,038) |
Dividends paid to non-controlling interests of subsidiaries | (1,702,511) | (1,436,574) | (1,265,451) |
Lease payments/finance lease rental payments | (1,297,746) | (488,015) | (637,026) |
Cash paid for acquisition of non-controlling interests of a subsidiary | (6,802) | ||
Others | 248,895 | (364,815) | (552,574) |
Net cash provided by/(used in) financing activities | 1,803,816 | (11,328,183) | (2,243,070) |
Effect of foreign exchange rate changes, net | (739,088) | 63,551 | 26,266 |
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | 814,634 | (2,974,424) | 6,135,292 |
Cash and cash equivalents as at beginning of the year | 12,443,258 | 15,417,682 | 9,282,390 |
CASH AND CASH EQUIVALENTS AS AT END OF THE YEAR | ¥ 13,257,892 | ¥ 12,443,258 | ¥ 15,417,682 |
Company organization and princi
Company organization and principal activities | 12 Months Ended |
Dec. 31, 2020 | |
Company organization and principal activities | |
Company organization and principal activities | 1 Company organization and principal activities Huaneng Power International, Inc. (the “Company”) was incorporated in the People’s Republic of China (the “PRC”) as a Sino-foreign joint stock limited company on 30 June 1994. The registered address of the Company is Huaneng Building, 6 Fuxingmennei Street, Xicheng District, Beijing, the PRC. The Company and its subsidiaries (collectively, the “Group”) are principally engaged in the generation and sale of electric power to the respective regional or provincial grid companies in the PRC, Republic of Singapore (“Singapore”) and Islamic Republic of Pakistan ("Pakistan”). The Company conducts its business in Singapore through SinoSing Power Pte Ltd. (“SinoSing Power”) and its subsidiaries and in Pakistan through Huaneng Shandong Ruyi (Hong Kong) Energy Co., Ltd. (“Hong Kong Energy”) and its subsidiaries. The directors consider Huaneng International Power Development Corporation (“HIPDC”) and China Huaneng Group Co., Ltd. (“Huaneng Group”) as controlling shareholders of the Company, with HIPDC being the parent company and Huaneng Group being the ultimate parent company of the Company, respectively. Both HIPDC and Huaneng Group are incorporated in the PRC. HIPDC does not produce financial statements available for public use. |
Principal accounting policies
Principal accounting policies | 12 Months Ended |
Dec. 31, 2020 | |
Principal accounting policies | |
Principal accounting policies | 2 Principal accounting policies The principal accounting policies adopted in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. (a) Basis of preparation These financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRSs”) as issued by the International Accounting Standards Board (the “IASB”) and the disclosure requirements of the Hong Kong Companies Ordinance. These financial statements have been prepared under the historical cost convention, except for the financial assets at fair value through other comprehensive income, financial assets at fair value through profit or loss and derivative financial assets and liabilities. The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 4. As at 31 December 2020, the Group had net current liabilities of approximately RMB87.91 billion, and a portion of the Group’s funding requirements for capital expenditures were satisfied by short-term financing. Taking into consideration the undrawn available banking facilities of approximately RMB305.1 billion as at 31 December 2020, the Group is expected to refinance certain of its short-term loans and bonds and also to consider alternative sources of financing, where applicable and when needed. Therefore, the directors of the Company are of the opinion that the Group will be able to meet its liabilities as and when they fall due within the next twelve months and accordingly, these consolidated financial statements are prepared on a going concern basis. The IASB has issued certain new and revised IFRSs that are first effective or available for early adoption for the current accounting period of the Group. Note 2(b) provides information on any changes in accounting policies resulting from initial application of these developments to the extent that they are relevant to the Group for the current and prior accounting periods reflected in these financial statements. 2 Principal accounting policies (continued) (b) Changes in accounting policies The Group has adopted the Conceptual Framework for Financial Reporting 2018 and the following revised IFRSs for the first time for the current year's consolidated financial statements. Amendments to IFRS 3 Definition of a Business Amendments to IFRS 9, IAS 39 and IFRS 7 Interest Rate Benchmark Reform Amendment to IFRS 16 Covid-19-Related Rent Concessions (early adopted) Amendments to IAS 1 and IAS 8 Definition of Material The nature and the impact of the Conceptual Framework for Financial Reporting 2018 and the revised IFRSs are described below: (i) Conceptual Framework for Financial Reporting 2018 Conceptual Framework for Financial Reporting 2018 (the “Conceptual Framework”) sets out a comprehensive set of concepts for financial reporting and standard setting, and provides guidance for preparers of financial statements in developing consistent accounting policies and assistance to all parties to understand and interpret the standards. The Conceptual Framework includes new chapters on measurement and reporting financial performance, new guidance on the derecognition of assets and liabilities, and updated definitions and recognition criteria for assets and liabilities. It also clarifies the roles of stewardship, prudence and measurement uncertainty in financial reporting. The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The Conceptual Framework did not have any significant impact on the financial position and performance of the Group. (ii) Amendments to IFRS 3 Definition of a Business Amendments to IFRS 3 clarify and provide additional guidance on the definition of a business. The amendments clarify that for an integrated set of activities and assets to be considered a business, it must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. A business can exist without including all of the inputs and processes needed to create outputs. The amendments remove the assessment of whether market participants are capable of acquiring the business and continue to produce outputs. Instead, the focus is on whether acquired inputs and acquired substantive processes together significantly contribute to the ability to create outputs. The amendments have also narrowed the definition of outputs to focus on goods or services provided to customers, investment income or other income from ordinary activities. Furthermore, the amendments provide guidance to assess whether an acquired process is substantive and introduce an optional fair value concentration test to permit a simplified assessment of whether an acquired set of activities and assets is not a business. The Group has applied the amendments prospectively to transactions or other events that occurred on or after 1 January 2020. The amendments did not have any impact on the financial position and performance of the Group. 2 Principal accounting policies (continued) (b) Changes in accounting policies (continued) (iii) Amendments to IFRS 9, IAS 39 and IFRS 7 Interest Rate Benchmark Reform Amendments to IFRS 9, IAS 39 and IFRS 7 address issues affecting financial reporting in the period before the replacement of an existing interest rate benchmark with an alternative risk-free rate (“RFR”). The amendments provide temporary reliefs which enable hedge accounting to continue during the period of uncertainty before the introduction of the alternative RFR. In addition, the amendments require companies to provide additional information to investors about their hedging relationships which are directly affected by these uncertainties. The amendments did not have any significant impact on the financial position and performance of the Group. (iv) Amendment to IFRS 16 Covid-19-Related Rent Concessions (early adopted) Amendment to IFRS 16 provides a practical expedient for lessees to elect not to apply lease modification accounting for rent concessions arising as a direct consequence of the covid-19 pandemic. The practical expedient applies only to rent concessions occurring as a direct consequence of the pandemic and only if (i) the change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change; (ii) any reduction in lease payments affects only payments originally due on or before 30 June 2021; and (iii) there is no substantive change to other terms and conditions of the lease. The amendment is effective for annual periods beginning on or after 1 June 2020 with earlier application permitted and shall be applied retrospectively. The amendment did not have any impact on the financial position and performance of the Group as there were no lease payments reduced or waived by the lessors as a result of the covid-19 pandemic during the year. (v) Amendments to IAS 1 and IAS 8 Definition of Material Amendments to IAS 1 and IAS 8 provide a new definition of material. The new definition states that information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general-purpose financial statements make on the basis of those financial statements. The amendments clarify that materiality will depend on the nature or magnitude of information, or both. The amendments did not have any significant impact on the financial position and performance of the Group. (c) Consolidation The consolidated financial statements include the financial statements of the Company and all of its subsidiaries. Subsidiaries are investees over which the Group has the power to exercise control. The Group controls an entity when it is exposed, or has rights to variable returns from their involvement with the entity and has the ability to affect those returns through their power over the entity. In assessing whether the Group has power, only substantive rights (held by the Group and other parties) are considered. When the Group has, directly or indirectly, less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including: (a) the contractual arrangement with the other vote holders of the investee; (b) rights arising from other contractual arrangements; and (c) the Group’s voting rights and potential voting rights. 2 Principal accounting policies (continued) (c) Consolidation (continued) When there is any inconsistency on the accounting policies or financial period adopted between subsidiaries and the Company, the financial statements of subsidiaries are adjusted according to the accounting policies or financial period adopted by the Company. Subsidiaries are consolidated from the date when control is transferred to the Group. They are de-consolidated from the date when control ceases. Intra-group balances, transactions and cash flows, and any unrealized income and expenses arising from intra-group transactions, are eliminated in full in preparing the consolidated financial statements. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. The portion of the shareholders’ equity of the subsidiaries, which is not attributable directly or indirectly to the parent company, is separately presented as non-controlling interests in the shareholders’ equity in the consolidated financial statements. The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control described above. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it derecognizes (i) the assets (including goodwill) and liabilities of the subsidiary, (ii) the carrying amount of any non-controlling interest and (iii) the cumulative translation differences recorded in equity; and recognizes (i) the fair value of the consideration received, (ii) the fair value of any investment retained and (iii) any resulting surplus or deficit in profit or loss. The Group’s share of components previously recognized in other comprehensive income is reclassified to profit or loss or retained profits, as appropriate, on the same basis as would be required if the Group had directly disposed of the related assets or liabilities. 2 Principal accounting policies (continued) (c) Consolidation (continued) (i) Business combinations The acquisition method is used to account for the business combinations of the Group (including business combinations under common controls). The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognized in profit or loss. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interests in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the recognized amounts of acquiree’s identifiable net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill (Note 2(k)). If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognized in profit or loss. In a business combination achieved in stages, the acquirer shall remeasure its previously held equity interest in the acquiree at its acquisition-date fair value and recognize the resulting gain or loss, if any, in profit or loss or other comprehensive income, as appropriate. In prior reporting periods, the acquirer may have recognized changes in the value of its equity interest in the acquiree in other comprehensive income. If so, the amount that was recognized in other comprehensive income shall be recognized on the same basis as would be required if the acquirer had directly disposed of the previously held equity interest. The Group determines that it has acquired a business when the acquired set of activities and assets includes an input and a substantive process that together significantly contribute to the ability to create outputs. The Group may elect to apply, or not apply, an optional test (the concentration test) to permit a simplified assessment of whether an acquired set of activities and assets is not a business, and the Group makes such an election separately for each transaction or other event. The concentration test is met if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If the concentration test is met, the set of activities and assets is determined not to be a business and no further assessment is needed. If the concentration test is not met, or if the entity elects not to apply the test, the Group then perform further assessment to determine whether an acquisition meet the minimum requirements to be a business. When an acquisition does not constitute an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing goods or services to customers, generating investment income (such as dividends or interest) or generating other income from ordinary activities, it is not defined as a business and therefore is identified as an asset acquisition. 2 Principal accounting policies (continued) (c) Consolidation (continued) (ii) Changes in ownership interests in subsidiaries Transactions with non-controlling interests that do not result in loss of control are accounted for as equity transactions – that is, as transactions with the equity owners in their capacity as owners. The difference between fair value of any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity. When the Group loses control of a subsidiary, it is accounted for as a disposal of the entire interest in that subsidiary, with a resulting gain or loss being recognized in profit or loss. Any interest retained in that former subsidiary at the date when control is lost is recognized at fair value and this amount is regarded as the fair value on initial recognition of a financial asset (Note 2(m)) or, when appropriate, the cost on initial recognition of an investment in an associate or joint venture (Note 2(c)(iii)). (iii) Associates and joint ventures Associates are investees over which the Group has significant influence on the financial and operating decisions. A joint venture is an arrangement whereby the Group and other parties contractually agree to share control of the arrangement, and have rights to the net assets of the arrangement. Investments in associates and joint ventures are initially recognized at cost and are subsequently measured using the equity method of accounting, unless it is classified as held for sale (or included in a disposal group that is classified as held for sale). The excess of the initial investment cost over the proportionate share of the fair value of identifiable net assets of investee acquired is included in the initial investment cost (Note 2(k)). Any shortfall of the initial investment cost to the proportionate share of the fair value of identifiable net assets of investee acquired is recognized in the current period profit or loss and long-term investment cost is adjusted accordingly. When applying equity method, the Group adjusts net profit or loss of the investees, including the fair value adjustments on the net identifiable assets of the associates and joint ventures and the adjustments to align with the accounting policies of the Company and the Company’s financial reporting periods. The current period investment income is then recognized based on the proportionate share of the Group in the investees’ net profit or loss. Net losses of investees are recognized to the extent of the carrying value of long-term equity investments and any other constituting long-term equity investments in investees that in substance form part of the investments in the investees. The Group continues to recognize investment losses and provision if they bear additional obligations which meet the recognition criteria. The Group adjusts the carrying amount of the investment and directly recognizes it into related other comprehensive income based on the proportionate share on the movements of the investees’ other comprehensive income. When the investees appropriate profit or declare dividends, the carrying value of long-term equity investments is reduced correspondingly by the proportionate share of the distribution. 2 Principal accounting policies (continued) (c) Consolidation (continued) (iii) The Group determines at each reporting date whether there is any objective evidence that the investment in the associate or the joint venture is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate or the joint venture and its carrying value and recognizes the amount in the consolidated statement of comprehensive income. Profits or losses resulting from transactions between the Group and the associates and joint ventures are recognized in the Group’s financial statements only to the extent of the unrelated third party investor’s interests in the associates and joint ventures. Loss from transactions between the Group and the associates and joint ventures is fully recognized and not eliminated when there is evidence for asset impairment. If an investment in an associate becomes an investment in a joint venture or vice versa, retained interest is not remeasured. Instead, the investment continues to be accounted for under the equity method. Gains and losses arising from dilution of investments in associates and joint ventures are recognized in the consolidated statement of comprehensive income. In the Company’s statement of financial position, investments in associates and joint ventures are stated at cost less provision for impairment losses (Note 2(l)) unless classified as held for sale (or included in a disposal group that is classified as held for sale). Investment income from investments in associates and joint ventures is accounted for by the Company based on dividends received and receivable. In all other cases, when the Group ceases to have significant influence over an associate or joint control over a joint venture, it is accounted for as a disposal of the entire interest in that investee, with a resulting gain or loss being recognized in profit or loss. Any interest retained in that former investee at the date when significant influence or joint control is lost is recognized at fair value and this amount is regarded as the fair value on initial recognition of a financial asset (Note 2(m)). (d) Separate financial statements of the Company Investments in subsidiaries are accounted for at cost less impairment unless classified as held for sale (or included in a disposal group that is classified as held for sale). Cost also includes direct attributable costs of investment. Investment income is recognized when the subsidiaries declare dividend. (e) Segment reporting The Group determines the operating segment based on the internal organization structure, management requirement and internal reporting system for purposes of presenting reportable segment information. 2 Principal accounting policies (continued) (e) Segment reporting (continued) An operating segment represents a component of the Group that meets all the conditions below: (i) the component earns revenue and incurs expenses in its daily operating activities; (ii) chief operating decision maker of the Group regularly reviews the operating results of the component in order to make decisions on allocating resources and assessing performance; (iii) the financial position, operating results, cash flows and other related financial information of the component are available. When two or more operating segments exhibit similar economic characteristics and meet certain conditions, the Group combines them as one reportable segment. (f) Foreign currency translation (i) Functional and presentation currency Items included in the financial statements of each of the Group are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in Renminbi (“RMB”), which is the Company’s functional and presentation currency. (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rate on the transaction dates. As at the end of reporting period, foreign currency monetary items are translated into functional currency at the spot exchange rate as at the end of reporting period. Exchange differences are directly expensed in current period profit or loss unless they arises from foreign currency loans borrowed for purchasing or construction of qualifying assets which is eligible for capitalization or they arise from monetary items that qualify as hedging instruments in cash flow hedges which are recorded in other comprehensive income to the extent that the hedge is effective. (iii) Foreign subsidiaries The operating results and financial position of the foreign subsidiaries are translated into presentation currency as follows: Asset and liability items in each statement of financial position of foreign operations are translated at the closing rates at the end of reporting period; equity items excluding retained earnings are translated at the spot exchange rates at the date of the transactions. Income and expense items in the statement of comprehensive income of the foreign operations are translated at average exchange rates approximating the rate on transaction dates. All resulting translation differences are recognized in other comprehensive income. The cash flows denominated in foreign currencies and cash flows of overseas subsidiaries are translated at average exchange rates approximating the rates at the dates when cash flows incurred. The effect of the foreign currency translation on the cash and cash equivalents is presented in the statement of cash flows separately. On the disposal of a foreign operation (that is, a disposal of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation, a disposal involving loss of joint control over a joint ventures that includes a foreign operation, or a disposal involving loss of significant influence over an associate that includes a foreign operation), all of the exchange differences accumulated in equity in respect of that operation attributable to the equity holders of the Company are reclassified to profit or loss. 2 Principal accounting policies (continued) (f) Foreign currency translation (continued) In the case of a partial disposal that does not result in the Group losing control over a subsidiary that includes a foreign operation, the proportionate share of accumulated exchange differences is re-attributed to non-controlling interests and are not recognized in profit or loss. For all other partial disposals (that is, reductions in the Group’s ownership interest in associates or joint venture that includes a foreign operation that do not result in the Group losing significant influence or joint control), the proportionate share of the accumulated exchange differences is reclassified to profit or loss. (g) Property, plant and equipment Property, plant and equipment consists of dams, port facilities, buildings, electric utility plant in service, transportation facilities, others and construction-in-progress (“CIP”). Property, plant and equipment acquired or constructed are initially recognized at cost and carried at the net value of cost less accumulated depreciation and accumulated impairment loss, unless classified as held for sale (or included in a disposal group that is classified as held for sale). Cost of CIP comprises construction expenditures, other expenditures necessary for the purpose of preparing the CIP for its intended use, those borrowing costs incurred before the assets are ready for intended use that are eligible for capitalization. CIP is not depreciated until such time as the relevant asset is completed and ready for its intended use. Subsequent costs about property, plant and equipment are included in the asset’s carrying amount only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. Other subsequent expenditures not qualified for capitalization are charged in the current period profit or loss when they are incurred. Depreciation of property, plant and equipment is provided based on book value of the asset less estimated residual value over the estimated useful life using straight-line method. For those impaired property, plant and equipment, depreciation is provided based on book value after deducting impairment provision over the estimated useful life of the asset. The estimated useful lives are as follows: Estimated useful lives Dams 8 – 50 years Port facilities 20 – 40 years Buildings 8 – 30 years Electric utility plant in service 5 – 30 years Transportation facilities 8 – 27 years Others 5 – 14 years Where parts of an item of property, plant and equipment have different useful lives, the cost of the item is allocated on a reasonable basis between the parts and each part is depreciated separately. At the end of each year, the Group reviews the estimated useful lives, residual values and the depreciation method of the property, plant and equipment and make adjustment when necessary. 2 Principal accounting policies (continued) (g) Property, plant and equipment (continued) Property, plant and equipment is derecognized when it is disposed of, or is not expected to bring economic benefit through use or disposal. The amount of disposal proceeds arising from sale, transfer, disposal or write-off of the property, plant and equipment less book value and related tax expenses is recorded in ‘operating expenses – others’ in the statement of comprehensive income. The carrying amount of property, plant and equipment is written down immediately to their recoverable amount when their carrying amount is greater than their recoverable amount (Note 2(l)). (h) Investment property Investment properties are land and/or buildings which are owned or held under a leasehold interest (Note 2(ab), including the leasehold property held as a right-of-use asset) to earn rental income and/or for capital appreciation. These include land held for a currently undetermined future use and property that is being constructed or developed for future use as investment property. Investment properties are stated at cost. Rental income from investment properties is accounted for as described in Note 2(z)(v). (i) Power generation licenses The Group acquired the power generation license as part of the business combination with Tuas Power Ltd. (“Tuas Power”). The power generation license is initially recognized at fair value at the acquisition date. The license has an indefinite useful life and is not amortized. The assessment that the license has an indefinite useful life is based on the expected renewal of power generation license without significant restriction and cost, together with the consideration on related future cash flows generated and the expectation of continuous operations. It is tested annually for impairment and carried at cost less accumulated impairment loss. The useful life of the power generation license is reviewed by the Group each financial period to determine whether events and circumstances continue to support the indefinite useful life assessment. (j) Mining rights Mining rights are stated at cost less accumulated amortization and impairment losses (Note 2(l)) and are amortized based on the units of production method utilizing only recoverable coal reserves as the depletion base, unless the mining rights are classified as held for sale (or included in a disposal group that is classified as held for sale). (k) Goodwill Goodwill is initially measured at cost, being the excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired and liabilities assumed of the acquiree at the date of acquisition. If the sum of this consideration and other items is lower than the fair value of the net assets acquired, the difference is, after reassessment, recognized in profit or loss as a gain on bargain purchase. 2 Principal accounting policies (continued) (k) Goodwill (continued) After initial recognition, goodwill is measured at cost less accumulated impairment losses. Goodwill arising on a business combination is allocated to each cash-generating unit, or groups of cash generating units, that is expected to benefit from the synergies of the combination and is tested for impairment annually or more frequent if events or changes in circumstances indicate that the carrying value may be impaired (Note 2(l)). On disposal of a cash-generating unit during the year, any attributable amount of purchased goodwill is included in the calculation of the profit or loss on disposal. (l) Impairment of non-financial assets The carrying amounts of property, plant and equipment, mining rights, intangible assets with definite useful lives, right-of-use assets and long-term equity investments not accounted for as financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill, indefinite life intangible assets and intangible assets not yet available for use are tested for impairment annually regardless of whether there are indications of impairment or more frequently if events or changes in circumstances indicate a potential impairment. An impairment loss is recognized if the carrying amount of an asset or cash-generating unit (“CGU”) exceeds its recoverable amount. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less cost to sell. For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to an operating segment ceiling test, CGUs to which goodwill has been allocated are aggregated so that the level at which |
Financial and capital risks man
Financial and capital risks management | 12 Months Ended |
Dec. 31, 2020 | |
Financial and capital risks management | |
Financial and capital risks management | 3 Financial and capital risks management (a) Financial risk management Risk management, including the management on financial risks, is carried out under the instructions of the Strategic Committee of the Board of Directors and the Risk Management Team. The Group works out general principles for overall management as well as management policies covering specific areas. In considering the importance of risks, the Group identifies and evaluates risks at head office and individual power plant level, and requires analysis and proper communication of the information collected periodically. SinoSing Power and its subsidiaries and Huaneng Shandong Ruyi (Pakistan) Energy (Private) Co., Ltd. (“Ruyi Pakistan Energy”) and Shandong Huatai Electric Power Operation & Maintenance (Private) Co., Ltd., the subsidiaries of Hong Kong Energy, are subject to financial risks that are different from the entities operating within the PRC. They have a series of controls in place to maintain the cost of risks occurring and the cost of managing the risks at an acceptable level. Management continually monitors the risk management process to ensure that an appropriate balance between risk and control is achieved. SinoSing Power and its subsidiaries and Ruyi Pakistan Energy have their written policies and financial authorization limits in place which are reviewed periodically. These financial authorization limits seek to mitigate and eliminate operational risks by setting approval thresholds required for entering into contractual obligations and investments. 3 Financial and capital risks management (continued) (a) Financial risk management (continued) (i) Market risk (1) Foreign exchange risk Foreign exchange risk of the entities operating within the PRC primarily arises from loans denominated in foreign currencies of the Group. SinoSing Power and its subsidiaries are exposed to foreign exchange risk on bank balances, accounts receivable, other receivables and assets, accounts payable, long-term bonds and other liabilities that are denominated primarily in US$, a currency other than Singapore dollar (“S$”), their functional currency. Ruyi Pakistan Energy is exposed to foreign exchange risk on bank balances, financial lease receivables, accounts payable and other liabilities and long-term loans that are denominated primarily in US$, a currency other than Pakistan rupee (“PKR”), their functional currency. The Group manages exchange risk through closely monitoring interest and exchange market. As at 31 December 2020, if RMB had weakened/strengthened by 5% (2019: 5%) against US$ and 3% (2019: 3%) against EUR (“€”) with all other variables constant, the Group would further recognize an exchange loss/gain amounting RMB51 million million million million As at 31 December 2020, if S$ had weakened/strengthened by 10% (2019:10%) against US$ with all other variables constant, SinoSing Power and its subsidiaries would further recognize exchange loss/gain amounting RMB418 million million SinoSing Power and its subsidiaries also are exposed to foreign exchange risk on fuel purchases that are denominated primarily in US$. They substantially hedge their estimated foreign currency exposure in respect of forecast fuel purchases over the next three months using primarily foreign currency contracts. As at 31 December 2020, if PKR had weakened/strengthened by 5% (2019: 5%) against US$ with all other variables constant, Ruyi Pakistan Energy would further recognize an exchange gain/loss amounting RMB78 million million Ruyi Pakistan Energy is exposed to foreign exchange risk on payments of long-term loans that are denominated primarily in US$. Ruyi Pakistan Energy entered into an agreement on a tariff adjustment mechanism with Central Power Purchasing Agency (Guarantee) Limited (“CPPA-G”) and the tariff adjustment mechanism was approved by the National Electric Power Regulatory Authority. The mechanism mitigates foreign exchange risk by decreasing or increasing electricity tariff when the PKR strengthens or weakens against US$. (2) Price risk The other equity instrument investments of the Group designated as FVTOCI are exposed to equity security price risk. 3 Financial and capital risks management (continued) (a) Financial risk management (continued) (i) Market risk (continued) (2) Price risk (continued) Detailed information relating to the other equity instrument investments is disclosed in Note 10. The Group closely monitors the pricing trends in the open market in determining its long-term strategic stakeholding decisions. The Group is exposed to fuel price risk on fuel purchases. In particular, SinoSing Power and its subsidiaries use fuel oil swaps to hedge against such a risk and designate them as cash flow hedges. Please refer to Note 13 for details. (3) Cash flow interest rate risk The interest rate risk of the Group primarily arises from loans. Loans borrowed at variable rates expose the Group to cash flow interest rate risk. The exposures of these risks are disclosed in Note 23 and 29 to the financial statements. The Group has entered into interest rate swap agreements with banks to hedge against a portion of cash flow interest rate risk. As at 31 December 2020, if interest rates on RMB-denominated borrowings had been 50 basis points higher/lower with all other variables held constant, interest expense for the year would have been RMB812 million million million million million million TP-STM Water Resources Pte. Ltd. (“TPSTMWR”) also entered into a number of floating-to-fixed interest rate swap agreements to hedge against cash flow interest rate risk of loans. According to the interest rate swap agreements, TPSTMWR agrees with the counterparty to settle the difference between fixed contract rates and floating-rate interest amounts calculated by reference to the agreed notional amount quarterly until 2044. Please refer to Note 13 for details. (ii) Credit risk Credit risk arises from bank deposits, accounts receivable, contract assets, other receivables and assets and other non-current assets. The maximum exposures of contract assets, other non-current assets, other receivables and assets, accounts receivable and bank deposits are disclosed in Note 5(c), 15, 17, 18 and 34 to the financial statements, respectively. 3 Financial and capital risks management (continued) (a) Financial risk management (continued) (ii) Credit risk (continued) Bank deposits are placed with reputable banks and financial institutions. In addition, a significant portion is deposited with a non-bank financial institution which is a related party of the Group. The Group has a director on the Board of this non-bank financial institution and exercises influence. Corresponding maximum exposures of these bank deposits are disclosed in Note 35 (a)(i) to the financial statements. Majority of the power plants of the Group operating within the PRC sell electricity generated to their sole customers, the power grid companies of their respective provinces or regions where the power plants operate. These power plants communicate with their individual grid companies periodically and believe that adequate provision for loss allowance of accounts receivable have been made in the financial statements. Pursuant to Cai Jian [2020] No. 4 Opinions on the Promotion of Healthy Development over Non-water Renewable Energy Power Generation jointly issued by the Ministry of Finance, the National Development and Reform Commission and the National Energy Administration in January 2020, the application process of renewable energy tariff premium has been further simplified to file the project tariff supplementary information on the National Renewable Energy Information Management Platform. The tariff premium receivables are settled in accordance with prevailing government policies and prevalent payment trends of the Ministry of Finance. There is no due date for settlement. The directors are of the opinion that the application process will be completed in due course and these trade receivables from tariff premium are fully recoverable considering there were no bad debt experiences with the grid companies in the past and such tariff premium is funded by the PRC government. On 20 January 2020, the Ministry of Finance, the National Development and Reform Commission and the National Energy Administration jointly issued Cai Jian [2020] No. 5 Notice on the Measures for Administration of Funds for Tariff Premium of Renewable Energy and abolished the Notice on the Interim Measures for Administration of Subsidy Funds for Tariff Premium of Renewable Energy issued in 2012. The new measures clarified that the total amount of funds for tariff premium will be determined by the Ministry of Finance in accordance with the principle of determining expenditure by revenue, and the capacity of newly installed renewable energy projects within the premium scope will be determined by the National Development and Reform Commission and the Energy Administration. At the same time, the stock projects included in the annual construction plan could be enrolled in the list of subsidies after approved by the power grid company. As at 31 December 2020, most of the Group’s related projects have been approved for the tariff premium of renewable energy and certain projects are in the process of applying for the approval. Singapore subsidiaries derive revenue mainly from the sale of electricity to the National Electricity Market of Singapore operated by Energy Market Company Pte. Ltd., which does not have high credit risk. Singapore subsidiaries also derive revenue mainly from retailing electricity to consumers with monthly consumption of more than 2,000kWh. These customers engage in a wide spectrum of manufacturing and commercial activities in a variety of industries. Singapore subsidiaries also entered into a build-operate-transfer agreement with a Singapore government related entity for certain water related projects, the projects were still in construction phase and thus contract assets were recognized accordingly, and the Singapore government related entity does not have high credit risk. 3 Financial and capital risks management (continued) (a) Financial risk management (continued) (ii) Credit risk (continued) Ruyi Pakistan Energy derives revenue from the sale of electricity to CPPA-G, which is measured on the basis of lifetime ECLs. The loss allowances recognized during the year were RMB68 million. Finance lease receivables are mainly from a domestic related party, business enterprises in Singapore and CPPA-G in Pakistan. As the related party and Singapore local enterprises have a good track of records and no historical losses have incurred, the Group concluded that these receivables have low credit risk and remote possibility of default. The finance lease receivables from CPPA-G are secured against the sovereign guarantee issued by the Government of Pakistan pursuant to the designated agreement. The ECLs of the finance lease receivables are measured on the basis of lifetime ECLs, and a 0.03% of risk of default against the Government of Pakistan is considered during the assessment. The ECLs relating to the finance lease receivables recognized during the year were RMB0.09 million. The Group measures loss allowances for accounts receivable and contract assets at an amount equal to lifetime ECLs, which is calculated using a provision matrix. Except for electricity sales, the Group’s historical credit loss experience does not indicate significantly different loss patterns for different customer segments, the loss allowance based on the past due status is not further distinguished between the Group’s different customer bases. The Group measures loss allowances for other receivables at an amount equal to 12-month ECLs unless there has been a significant increase in credit risk. Gross carrying Accounts receivable and contract assets amount Loss allowance Current (not past due) 35,854,768 — Within 1 year past due 2,327,113 7,394 1 - 3 years past due 91,370 24,275 More than 3 years past due 128,071 124,260 38,401,322 155,929 Gross carrying Other receivables amount Loss allowance Current (not past due) 2,244,414 150,898 Within 1 year past due — — 1 - 3 years past due — — More than 3 years past due 41,274 36,777 2,285,688 187,675 Expected loss rates are based on actual loss experience over the past 5 years. These rates are adjusted to reflect differences between economic conditions during the period over which the historic data has been collected, the current conditions, and the Group’s view of economic conditions over the expected lives of the receivables. 3 Financial and capital risks management (continued) (a) Financial risk management (continued) (iii) Liquidity risk Liquidity risk management is to primarily ensure the ability of the Group to meet its liabilities as and when they are fall due. The liquidity reserve comprises the undrawn borrowing facility and cash and cash equivalents available as at each month end in meeting its liabilities. The Group maintains flexibility in funding by cash generated by their operating activities and availability of committed credit facilities. Financial liabilities due within 12 months are presented as current liabilities in the statement of financial position. The cash flows of derivative financial liabilities and repayment schedules of the long-term loans, long-term bonds and lease liabilities are disclosed in Notes 13, 23, 24 and 41, respectively. (b) Fair value estimation (i) Fair value measurements The following table presents the assets and liabilities that are measured at fair value at 31 December 2020 on a recurring basis. Level 1 Level 2 Level 3 Total Recurring fair value measurements Assets Accounts receivable at fair value through other comprehensive income (Note 18) — 1,255,888 — 1,255,888 Derivatives used for hedging (Note 13) — 184,733 — 184,733 Other equity instrument investments (Note 10) 6,662 — 658,284 664,946 Total assets 6,662 1,440,621 658,284 2,105,567 Liabilities Derivatives used for hedging (Note 13) — 295,001 — 295,001 Total liabilities — 295,001 — 295,001 3 Financial and capital risks management (continued) (b) Fair value estimation (continued) (i) Fair value measurements (continued) The following table presents the assets and liabilities that are measured at fair value at 31 December 2019 on a recurring basis. Level 1 Level 2 Level 3 Total Recurring fair value measurements Assets Financial assets at fair value through profit or loss – Trading derivatives (Note 13) — 4,601 — 4,601 – Contingent consideration (Note i) — — 457,727 457,727 Accounts receivable at fair value through other comprehensive income (Note 18) — 1,364,579 — 1,364,579 Derivatives used for hedging (Note 13) — 86,686 — 86,686 Other equity instrument investments (Note 10) 8,390 — 770,828 779,218 Total assets 8,390 1,455,866 1,228,555 2,692,811 Liabilities Financial liabilities at fair value through profit or loss – Trading derivatives (Note 13) — 2,987 — 2,987 Derivatives used for hedging (Note 13) — 447,721 — 447,721 Total liabilities — 450,708 — 450,708 Note i: The Company acquired several subsidiaries including Huaneng Shandong Power Generation Co., Ltd. (“Shandong Power”) from Huaneng Group. The acquisition was completed on 1 January 2017. According to the profit compensation agreement associated with the acquisition, Huaneng Group should compensate the Company in cash based on the shortfall of accumulated actual net profit compared with the accumulated forecast net profits of certain subsidiaries of Shandong Power during the compensation period from year 2017 to 2019. As at 31 December 2019, the fair value of the above-mentioned contingent consideration from Huaneng Group amounting to RMB 458 million was recorded in other receivables and assets. As at 31 December 2020, the Company has recovered all the above compensation. The fair value of financial instruments traded in active markets is based on quoted market prices at the end of the reporting period. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm’s length basis. The quoted market price used for financial assets held by the Group is the current bid price. These instruments are included in level 1. As at 31 December 2020, instruments included in level 1 were equity instruments in listed securities designated as financial assets measured at fair value through other comprehensive income. The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques. These valuation techniques maximize the use of relevant observable inputs and minimize the use of unobservable inputs. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2. If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3. 3 Financial and capital risks management (continued) (b) Fair value estimation (continued) (i) Fair value measurements (continued) Specific valuation techniques used to value financial instruments include: ● The forward exchange contracts and fuel oil swaps are both valued using quoted market prices or dealer quotes for similar instruments. ● The fair value of interest rate swaps is calculated as the present value of the estimated future cash flows based on observable yield curves. ● The fair values of accounts receivable at fair value through other comprehensive income were measured using the discounted cash flows model. The model incorporates various market observable inputs including the annualized yields of similar securitization products and interest rate curves. The carrying amounts of accounts receivable are the same as their fair values. ● The contingent consideration is valued using discounted cash flows. The valuation model considers the present value of the expected future receivables discounted using a risk-adjusted discounted rate. As at 31 December 2020, there were no contingent considerations of the Group. As at 31 December 2019, the expected contingent considerations were determined based on the audited financial statements of the acquired entities for the year ended 31 December 2019. ● The material other equity instrument investments in unlisted securities are valued using a market-base valuation technique based on assumptions that are not supported by observable market prices or rates. The Group determines comparable public companies based on industry, size, leverage and strategy and calculates an appropriate price multiple, such as price to book (“P/B”) multiple and price earnings ratio (“P/E”) for each comparable company identified. Below is a summary of significant unobservable inputs to the valuation of financial instruments together with a quantitative sensitivity analysis as at 31 December 2020: Significant Valuation technique Unobservable input Range Sensitivity of fair value to the input Unlisted equity investments Valuation multiples Average P/B 2020: 1.06 to 1.17 10% increase/decrease in multiple would result in increase/decrease in fair value by RMB57.88 million. Average P/E 2020: 12.60 to 13.86 10% increase/decrease in multiple would result in increase/decrease in fair value by RMB2.44 million. Discount for lack of marketability 2020: 21.33% to 28.65% 10% increase/decrease in multiple would result in decrease/increase in fair value by RMB20.39 million. The discount for lack of marketability represents the amounts of premiums and discounts determined by the Group that market participants would take into account when pricing the investments. 3 Financial and capital risks management (continued) (b) Fair value estimation (continued) (i) Fair value measurements (continued) During the year ended 31 December 2020 and 2019, there were no transfers of financial instruments between level 1 and level 2, or transfers into or out of level 3. The movements during the year in the balance of the level 3 fair value measurements are as follows: As at 31 December 2020 2019 Contingent consideration Beginning of the year 457,727 991,383 Movements: Gains on fair value changes — 17,175 Profit compensation received from Huaneng Group (457,727) (550,831) End of the year — 457,727 Total gains for the year included in profit or loss for assets held at the end of the reporting period — 17,175 As at 31 December 2020 2019 Other equity instrument investments Beginning of the year 770,828 2,074,861 Addition 61,713 7,450 Disposal — (1,250,000) Fair value changes (174,257) (61,483) End of the year 658,284 770,828 Changes in fair value recognized in other comprehensive income for the year (130,692) (46,113) (ii) Fair value disclosures The carrying value less provision for loss allowances of accounts receivable, other receivables and assets, accounts payable and other liabilities, short-term bonds and short-term loans approximated their fair values. The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Group for similar financial instruments. The estimated fair value of long-term loans and long-term bonds (both including current maturities) was approximately RMB131.72 billion and RMB33.12 billion as at 31 December 2020 (2019: RMB133.79 billion and RMB31.64 billion), respectively. The aggregate book value of these liabilities was approximately RMB131.89 billion and RMB33.06 billion as at 31 December 2020 (2019: RMB134.02 billion and RMB31.29 billion), respectively. 3 Financial and capital risks management (continued) (c) Capital risk management The objectives of the Group for managing capital are to safeguard the ability of the Group in continuing as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. The Group monitors capital by using debt ratio analysis. This ratio is calculated as total liabilities (sum of current liabilities and non-current liabilities) divided by total assets as shown in the consolidated statement of financial position. During 2020, the strategy of the Group's capital management remained unchanged from 2019. The debt ratio of the Group as at 31 December 2020 was 66.30% (2019: 69.55%). |
Critical accounting estimates a
Critical accounting estimates and judgments | 12 Months Ended |
Dec. 31, 2020 | |
Critical accounting estimates and judgments | |
Critical accounting estimates and judgments | 4 Critical accounting estimates and judgements Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below. (a) Accounting estimates on impairment of goodwill In accordance with the accounting policies stated in Note 2(l), the Group performs annual tests on whether goodwill has suffered any impairment or more frequently if events or changes in circumstances indicate that the carrying value may be impaired. The recoverable amounts of CGU or CGUs to which goodwill has been allocated are determined based on value-in-use calculations. The annual goodwill impairment assessment is complex because the determination of the recoverable amount of the underlying CGUs involves significant estimates and judgements, including the future sales volumes, fuel prices, gross margin and terminal growth rate used to estimate future cash flows and discount rates applied to these forecasted future cash flows of the underlying CGUs. These estimates and judgements may be significantly affected by changes in future market or economic conditions. (b) Accounting estimates on impairment of a power generation license In accordance with the accounting policies stated in Note 2(l), the Group performs annual tests on whether its power generation license have suffered any impairment. The recoverable amounts of the power generation license are determined based on value-in-use calculations. The annual impairment assessment of the power generation license is complex because the determination of the recoverable amount involves estimates and judgements, including the future sales volumes, fuel prices, gross margin and terminal growth rate used to estimate future cash flows and discount rates applied to these forecasted future cash flows. These estimates and judgements may be significantly affected by changes in future market or economic conditions. 4 Critical accounting estimates and judgments (continued) (c) Useful life of a power generation license As at the year end, management of the Group assesses whether the estimated useful life of its power generation license is indefinite. This assessment is based on the expected renewal of power generation license without significant restriction and cost, together with the consideration on related future cash flows generated and the expectation of continuous operations. Based on existing knowledge, outcomes within the next financial period that are different from assumptions could require a change to the carrying amount of the power generation license. (d) Useful lives of property, plant and equipment Management of the Group determines the estimated useful lives of property, plant and equipment and respective depreciation. The accounting estimate is based on the expected wear and tear incurred during power generation. Wear and tear can be significantly different following renovation each time. When the useful lives differ from the original estimated useful lives, management will adjust the estimated useful lives accordingly. It is possible that the estimates made based on existing experience are different to the actual outcomes within the next financial period and could cause a material adjustment to the depreciation and carrying amount of property, plant and equipment. (e) Accounting estimates on impairment of property, plant and equipment The impairment assessment of property plant and equipment was complex due to the significant estimates and judgements involved in the projections of future cash flows, including the future sales volumes, fuel prices, and discount rates applied to these forecasted future cash flows. These estimates and judgements may be significantly affected by changes in future market or economic conditions. (f) Approval of construction of new power plants The receiving of the ultimate approvals from the National Development and Reform Commission (“NDRC”) on certain power plant construction projects of the Group is a critical estimate and judgement of the directors. Such estimate and judgement are based on initial approval documents received as well as their understanding of the projects. Based on historical experience, the directors believe that the Group will receive final approvals from the NDRC on the related power plant projects. Deviation from the estimate and judgement could result in a significant adjustment to the carrying amount of non-current assets. (g) Deferred tax assets The Group recognizes the deferred tax assets to the extent that it is probable that future taxable profit and taxable temporary differences will be available against which the deductible temporary differences and tax losses carried forward can be utilized, using tax rates that are expected to be applied in the period when the asset is recovered. Recognition of deferred tax assets was complex because it requires significant estimation and judgement, and it involves significant assumptions, including future taxable profits, future tax rates, the reversal of deductible and taxable temporary differences, and the possible utilization of tax losses carried forward that could be significantly affected by changes in tax law framework and future market or economic conditions. 4 Critical accounting estimates and judgments (continued) (h) Leases – Estimating the incremental borrowing rate The Group cannot readily determine the interest rate implicit in certain leases, and therefore, it uses an incremental borrowing rate (“IBR”) to measure lease liabilities. The IBR is the rate of interest that the Group would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use asset in a similar economic environment. The IBR therefore reflects what the Group “would have to pay”, which requires estimation when no observable rates are available (such as for subsidiaries that do not enter into financing transactions) or when it needs to be adjusted to reflect the terms and conditions of the lease. The Group estimates the IBR using observable inputs (such as market interest rates) when available and is required to make certain entity-specific estimates (such as the subsidiary’s stand-alone credit rating). |
Revenue and segment information
Revenue and segment information | 12 Months Ended |
Dec. 31, 2020 | |
Revenue and segment information | |
Revenue and segment information | 5 Revenue and segment information (a) Disaggregation of revenue In the following table, revenue is disaggregated by major products and/or service lines of revenue recognition. The table also includes a reconciliation of the disaggregated operating revenue to the Group’s reportable segments (Note 5 (b)). PRC power Overseas All other Inter-segment For the year ended 31 December 2020 segment segment segments revenue Total Note i -Sales of power and heat 150,752,779 10,700,000 — — 161,452,779 -Sales of coal and raw materials 1,857,484 29,780 — — 1,887,264 -Port service — — 510,765 (312,625) 198,140 -Transportation service — — 153,679 (102,155) 51,524 -Lease income 86,136 1,544,118 — — 1,630,254 -Others 1,392,275 2,823,775 26,161 (15,834) 4,226,377 Total 154,088,674 15,097,673 690,605 (430,614) 169,446,338 Revenue: -From contracts with customers within the scope of IFRS15 167,816,084 -From other sources 1,630,254 5 Revenue and segment information (continued) (a) Disaggregation of revenue (continued) PRC power Overseas All other Inter-segment For the year ended 31 December 2019 segment segment segments revenue Total Note i -Sales of power and heat 152,806,163 12,129,652 — — 164,935,815 -Sales of coal and raw materials 1,353,538 527,798 — — 1,881,336 -Port service — — 505,485 (330,272) 175,213 -Transportation service — — 166,816 (118,297) 48,519 -Lease income 161,525 1,689,878 — — 1,851,403 -Others 1,320,409 3,788,133 28,185 (19,612) 5,117,115 Total 155,641,635 18,135,461 700,486 (468,181) 174,009,401 Revenue: -From contracts with customers within the scope of IFRS15 172,157,998 -From other sources 1,851,403 PRC power Overseas All other Inter-segment For the year ended 31 December 2018 segment segment segments revenue Total Note i -Sales of power and heat 154,816,070 11,490,601 — — 166,306,671 -Sales of coal and raw materials 649,374 214,402 — — 863,776 -Port service — — 441,637 (296,639) 144,998 -Transportation service — — 206,691 (153,334) 53,357 -Others 1,860,823 297,857 45,071 (21,929) 2,181,822 Total 157,326,267 12,002,860 693,399 (471,902) 169,550,624 Revenue: -From contracts with customers within the scope of IFRS15 169,467,647 -From other sources 82,977 Note i: Overseas segment mainly consists of the operations in Singapore and Pakistan. The revenue from the sale of power and heat and sale of coal and raw materials is recognized at a point in time upon the transfer of products, whereas the revenue from port service, transportation service, maintenance service, and heating pipeline service is recognized over time during the provision of service. Lease income is recognized over the lease term. (b) Segment information Directors and certain senior management of the Company perform the function as the chief operating decision maker (collectively referred to as the “senior management”). The senior management reviews the internal reporting of the Group in order to assess performance and allocate resources. The Company has determined the operating segments based on these reports. The reportable segments of the Group are the PRC power segment, overseas segment and all other segments (mainly including port and transportation operations). No operating segments have been aggregated to form a reportable segment. 5 Revenue and segment information (continued) (b) Segment information (continued) Senior management assesses the performance of the operating segments based on a measure of profit before income tax expense under China Accounting Standards for Business Enterprises (“PRC GAAP”) excluding dividend income received from other equity instrument investments, share of profits of China Huaneng Finance Co., Ltd. (“Huaneng Finance”) and operating results of the centrally managed and resource allocation functions of headquarters (“segment results”). Other information provided, except as noted below, to the senior management of the Company is measured under PRC GAAP. Segment assets exclude prepaid income tax, deferred income tax assets, other equity instrument investments, investment in Huaneng Finance and assets related to the centrally managed and resource allocation functions of the headquarters that are not attributable to any operating segment (“corporate assets”). Segment liabilities exclude current income tax liabilities, deferred income tax liabilities and liabilities related to the centrally managed and resource allocation functions of the headquarters that are not attributable to any operating segment (“corporate liabilities”). These are part of the reconciliation to total assets and liabilities of the statement of financial position. All sales among the operating segments have been eliminated as internal transactions when preparing consolidated financial statements. (Under PRC GAAP) PRC power Overseas All other segment segment segments Total For the year ended 31 December 2020 Total revenue 154,174,151 15,005,045 690,605 169,869,801 Intersegment revenue — — (430,614) (430,614) External revenue 154,174,151 15,005,045 259,991 169,439,187 Segment results 7,634,662 896,315 225,969 8,756,946 Interest income 144,124 145,955 2,680 292,759 Interest expense (8,096,150) (943,797) (152,378) (9,192,325) Impairment loss (6,114,200) 536 — (6,113,664) Credit loss (49,116) (70,900) — (120,016) Depreciation and amortization (20,237,935) (809,284) (218,951) (21,266,170) Net (loss)/income on disposal of non-current assets (612,263) 20 (3) (612,246) Share of profits less losses of associates and joint ventures 1,316,377 — 298,815 1,615,192 Income tax expense (3,087,995) (6,063) (16,350) (3,110,408) 5 Revenue and segment information (continued) (b) Segment information (continued) (Under PRC GAAP) PRC power Overseas All other segment segment segments Total For the year ended 31 December 2019 (Restated*) Total revenue 155,739,959 17,610,861 700,486 174,051,306 Intersegment revenue — — (468,181) (468,181) External revenue 155,739,959 17,610,861 232,305 173,583,125 Segment results 4,658,738 162,465 (204,137) 4,617,066 Interest income 163,389 100,177 1,404 264,970 Interest expense (9,295,893) (1,308,380) (114,490) (10,718,763) Impairment loss (5,445,635) (6,119) (485,325) (5,937,079) Credit loss (6,570) (67,987) — (74,557) Depreciation and amortization (20,012,936) (752,285) (167,553) (20,932,774) Net gain/(loss) on disposal of non-current assets 132,902 4,189 (3) 137,088 Share of profits less losses of associates and joint ventures 745,980 — 240,330 986,310 Income tax expense (2,501,871) 89,006 (22,140) (2,435,005) PRC power Overseas All other segment segment segments Total For the year ended 31 December 2018 *** Total revenue 157,636,808 12,002,860 693,399 170,333,067 Intersegment revenue — — (471,902) (471,902) External revenue 157,636,808 12,002,860 221,497 169,861,165 Segment results 3,596,245 (363,636) 389,876 3,622,485 Interest income 163,699 69,841 2,198 235,738 Interest expense (9,879,911) (465,099) (101,694) (10,446,704) Impairment loss (895,121) (251,031) — (1,146,152) Credit loss (38,368) (4,210) — (42,578) Depreciation and amortization (18,909,485) (774,625) (142,179) (19,826,289) Net gain/(loss) on disposal of non-current assets 70,186 (1,052) (11) 69,123 Share of profits less losses of associates and joint ventures 640,057 737,185 307,417 1,684,659 Income tax expense (1,146,997) 134,573 (16,523) (1,028,947) 5 Revenue and segment information (continued) (b) Segment information (continued) (Under PRC GAAP) PRC power Overseas All other segment segment segments Total 31 December 2020 Segment assets 382,917,976 39,922,997 9,883,826 432,724,799 Including: Additions to non-current assets (excluding financial assets and deferred income tax assets) 38,156,544 432,151 186,313 38,775,008 Investments in associates 14,230,345 — 3,855,842 18,086,187 Investments in joint ventures 1,550,986 — 1,193,536 2,744,522 Segment liabilities (265,407,038) (23,933,317) (4,501,554) (293,841,909) PRC power Overseas All other segment segment segments Total 31 December 2019 (Restated*) Segment assets 356,050,595 43,122,947 9,857,566 409,031,108 Including: Additions to non-current assets (excluding financial assets and deferred income tax assets) 40,556,999 716,642 251,957 41,525,598 Investments in associates 13,187,050 — 3,540,265 16,727,315 Investments in joint ventures 1,239,866 — 1,232,556 2,472,422 Segment liabilities (263,469,330) (27,397,122) (2,552,860) (293,419,312) A reconciliation of external revenue to operating revenue is provided as follows: For the year ended 31 December 2020 2019(Restated*) 2018*** External revenue (PRC GAAP) 169,439,187 173,583,125 169,861,165 Reconciling items: Impact of restatement under PRC GAAP in relation to business combination under common control*(Note 39) (85,477) (98,324) (310,541) Impact of recognition of build-operate-transfer (BOT) related revenue under IFRSs 92,628 524,600 — Operating revenue per IFRS consolidated statement of comprehensive income 169,446,338 174,009,401 169,550,624 5 Revenue and segment information (continued) (b) Segment information (continued) A reconciliation of segment results to profit before income tax expense is provided as follows: For the year ended 31 December 2020 2019(Restated*) 2018*** Segment results (PRC GAAP) 8,756,946 4,617,066 3,622,485 Reconciling items: Loss related to the headquarters (132,234) (155,395) (354,162) Share of profits of Huaneng Finance 188,643 200,810 166,864 Dividend income of other equity instrument investments 775 685 1,168 Impact of restatement under PRC GAAP in relation to business combination under common control* (Note 39) (13,995) 149,645 7,121 Impact of other IFRS adjustments** (4,026,399) (1,693,351) (1,470,329) Profit before income tax expense per IFRS consolidated statement of comprehensive income 4,773,736 3,119,460 1,973,147 Reportable segments’ assets are reconciled to total assets as follows: As at 31 December 2020 2019(Restated*) Total segment assets (PRC GAAP) 432,724,799 409,031,108 Reconciling items: Investment in Huaneng Finance 1,394,030 1,416,183 Deferred income tax assets 2,996,690 3,271,488 Prepaid income tax 133,090 139,617 Other equity instrument investments 664,946 779,217 Corporate assets 292,197 361,441 Impact of restatement under PRC GAAP in relation to business combination under common control* (Note 39) — (1,402,511) Impact of other IFRS adjustments** 11,698,906 14,653,520 Total assets per IFRS consolidated statement of financial position 449,904,658 428,250,063 Reportable segments’ liabilities are reconciled to total liabilities as follows: As at 31 December 2020 2019(Restated*) Total segment liabilities (PRC GAAP) (293,841,909) (293,419,312) Reconciling items: Current income tax liabilities (288,106) (748,957) Deferred income tax liabilities (977,810) (996,021) Corporate liabilities (1,622,574) (2,458,677) Impact of restatement under PRC GAAP in relation to business combination under common control* (Note 39) — 1,315,267 Impact of other IFRS adjustments** (1,558,061) (1,563,317) Total liabilities per IFRS consolidated statement of financial position (298,288,460) (297,871,017) 5 Revenue and segment information (continued) (b) Segment information (continued) Other material items: Impact of restatement under PRC GAAP in relation to Share of business profits of combination under Impact of other Reportable Huaneng common control* IFRS segment total Headquarters Finance (Note 39) adjustments** Total For the year ended 31 December 2020 Total revenue 169,439,187 — — (85,477) 92,628 169,446,338 Interest expense (9,192,325) (37,293) — 29,006 — (9,200,612) Depreciation and amortization (21,266,170) (36,434) — 26,023 (997,912) (22,274,493) Impairment loss (6,113,664) — — — (2,811,385) (8,925,049) Credit loss (120,016) — — — (52,695) (172,711) Share of profits less losses of associates and joint ventures 1,615,192 — 188,643 — (29,513) 1,774,322 Net loss on disposal of non-current assets (612,246) — — — (14,411) (626,657) Income tax expense (3,110,408) — — 176 947,059 (2,163,173) For the year ended 31 December 2019 (Restated*) Total revenue 173,583,125 — — (98,324) 524,600 174,009,401 Interest expense (10,718,763) (79,554) — 35,599 — (10,762,718) Depreciation and amortization (20,932,774) (14,147) — 59,679 (1,079,563) (21,966,805) Impairment loss (5,937,079) — — 125,259 (373,037) (6,184,857) Credit loss (74,557) — — — — (74,557) Share of profits less losses of associates and joint ventures 986,310 — 200,810 — (1,498) 1,185,622 Net gain/(loss) on disposal of non-current assets 137,088 — — — (67,639) 69,449 Income tax expense (2,435,005) — — 108 423,642 (2,011,255) For the year ended 31 December 2018 *** Total revenue 169,861,165 — — (310,541) — 169,550,624 Interest expense (10,446,704) (98,398) — 58,690 — (10,486,412) Depreciation and amortization (19,826,289) (26,122) — 167,910 (1,231,613) (20,916,114) Impairment loss (1,146,152) — — (8) (650,322) (1,796,482) Credit loss (42,578) — — 1,611 — (40,967) Share of profits less losses of associates and joint ventures 1,684,659 — 166,864 — (28,108) 1,823,415 Net gain/(loss) on disposal of non-current assets 69,123 (5) — — (26,612) 42,506 Income tax expense (1,028,947) — — 3,936 381,838 (643,173) * The Group completed the acquisitions of equity interests of certain companies, see Note 39 for details. As the acquisitions were business combinations under common control, the transactions were accounted for by using the pooling of interests method under the PRC GAAP. The assets and liabilities acquired in business combinations were measured at the carrying amounts of the acquirees in the consolidated financial statements of the ultimate controlling party on the acquisition date. The operating results for all periods presented were retrospectively restated as if the current structure and operations resulting from the acquisitions had been in existence from the date when the acquirees first became under the control of the same ultimate controlling party. Therefore, the relevant comparative figures in the segment information were restated under the PRC GAAP as the acquisitions were accounted for using acquisition method under IFRSs. 5 Revenue and segment information (continued) (b) Segment information (continued) ** Other GAAP adjustments above primarily represented the classification adjustments and adjustments related to business combination and borrowing cost. Other than the classification adjustments, the differences will be gradually eliminated following subsequent depreciation and amortization of related assets or the extinguishment of liabilities. *** Since the business combinations under common control in 2020 had no impact on the operating results for the year ended 31 December 2018, the comparative figures were not restated. Geographical information (Under IFRSs): (i) External revenue generated from the following countries: For the year ended 31 December 2020 2019 2018 PRC 154,348,665 155,873,940 157,547,764 Overseas 15,097,673 18,135,461 12,002,860 Total 169,446,338 174,009,401 169,550,624 The geographical location of customers is based on the location at which the electricity was transferred, goods were delivered, and services were provided. (ii) Non-current assets (excluding financial assets and deferred income tax assets) are located in the following countries: As at 31 December 2020 2019 PRC 346,766,179 327,410,156 Overseas 23,275,028 24,830,127 Total 370,041,207 352,240,283 The non-current asset information above is based on the locations of the assets. The information on sales to major customers of the Group which accounted for 10% or more of external revenue is as follows: In 2020, the revenue from grid companies under common control of State Grid Corporation of China within the PRC power segment in total accounted for 77% of external revenue (2019: 79%, 2018: 76%). The sales to a subsidiary of State Grid Corporation of China which accounted for 10% or more of external revenue is as follows: For the year ended 31 December 2020 2019 2018 Amount Proportion Amount Proportion Amount Proportion State Grid Shandong Electric Power Company 27,265,600 16 % 29,575,604 17 % 31,156,948 18 % 5 Revenue and segment information (continued) (c) Contract balances The contract assets primarily relate to the Group’s rights to consideration for service completed but not billed at the reporting date. The contract assets are transferred to receivables when the rights become unconditional according to the contract. The contract liabilities primarily relate to the advance received from customers for heat sales and heating pipeline upfront fees. The contract liabilities of RMB242 million at the beginning of the year has been recognized as revenue of heating pipeline service in 2020. The contract liabilities of RMB2,055 million at the beginning of the year has been recognized as revenue of heat sales in 2020. (i) The transaction prices allocated to remaining performance obligations (unsatisfied or partially unsatisfied) are as follows: As at 31 December 2020 2019 Within 1 year 268,001 220,046 Over 1 year 2,355,763 2,223,208 Total (Note 25) 2,623,764 2,443,254 The transaction prices allocated to the above remaining performance obligations expected to be recognized in more than one year relate to the provision of heating pipeline services, of which the performance obligations are to be satisfied within 17 years. All the other amounts of transaction prices allocated to the remaining performance obligations are expected to be recognized as revenue within one year. The amount disclosed above does not include variable consideration which is constrained. (ii) Performance obligations The Group has elected the practical expedient of not disclosing the remaining obligation excluding heating pipeline upfront fees. As allowed by IFRS 15, no information is provided about the performance obligations at 31 December 2020 that have an original expected duration of one year or less. |
Profit before income tax expens
Profit before income tax expense | 12 Months Ended |
Dec. 31, 2020 | |
Profit before income tax expense | |
Profit before income tax expense | 6 Profit before income tax expense Profit before income tax expense was determined after charging/(crediting) the following: For the year ended 31 December 2020 2019 2018 Total interest expense on borrowing 10,128,467 11,342,526 10,982,230 Less: amounts capitalized in property, plant and equipment 927,855 579,808 495,818 Interest expenses charged to consolidated statement of comprehensive income 9,200,612 10,762,718 10,486,412 Including: Interest expenses on lease liabilities 202,264 171,573 — Depreciation of property, plant and equipment 21,360,798 21,130,076 20,466,423 Depreciation of right-of-use assets 785,518 734,827 — Included in other investment loss/(income) -Dividends on other equity instrument investments (775) (685) (1,168) -Gains on disposal of subsidiaries — (256,009) — -Loss on disposal of a joint venture — — 270,741 Included in loss/(gain) on fair value changes of financial assets/liabilities -Contingent consideration of the business combination — (17,175) (746,850) -Loss/(gain) on fair value changes of trading derivatives 1,566 (19,492) 20,007 6 Profit before income tax expense (continued) For the year ended 31 December 2020 2019 2018 Included in other operating expenses: - Operating expense of Ruyi Pakistan 2,581,665 3,057,427 — - Service concession construction cost 103,177 518,291 89,022 - Other materials expense 1,626,385 1,748,498 1,640,372 - Electricity charges 973,372 898,719 807,425 - Cost of sales of raw materials 295,330 606,103 1,088,534 - Water charges 549,260 652,077 642,578 - Insurance expense 386,435 362,147 346,348 - Cleaning, greening and fire protection expense 430,476 398,478 384,431 - Purchase of power generation quota 392,902 423,057 431,964 - Transportation allowance 179,955 178,217 186,438 - Pollutant charge 137,579 84,468 72,494 - Water conservancy fund and disabled security fund 471,129 202,479 166,244 - Test and inspection expense 359,997 323,434 267,406 - Service charge 333,916 171,676 105,649 - Heating pipeline related cost 134,915 144,300 168,443 - Auditors’ remuneration audit services 39,117 42,019 68,750 - Other consulting expense 97,559 111,468 42,479 - Office expense 223,913 198,033 187,030 - Minimum lease payments under operating leases, lease payments not included in the measurement of lease liabilities 106,031 234,139 — - Amortization of other non-current assets 128,177 101,902 105,623 - Property management expense 95,037 76,507 64,076 - Information technology maintenance expense 229,214 122,425 101,449 - Travel expense 99,106 156,683 164,193 - Amortization of land use rights — — 344,068 - Business entertainment expense 28,553 32,825 44,973 - Research and development expenditure 667,592 65,022 46,219 - Net loss on disposal of materials and supplies 167,449 6,384 — - Net loss/(gain) on disposal of non-current assets 626,657 (69,449) (42,506) - Recognition of loss allowance for receivables 172,711 74,557 40,967 - Recognition of provision for inventory obsolescence (Note 16) 43,076 22,453 253,816 - Impairment loss of property, plant and equipment (Note 7) 7,847,378 5,719,990 989,778 - Impairment loss of mining rights — — 135,085 - Impairment loss of goodwill (Note 14) 685,036 — 409,371 - Impairment loss of other non-current assets 349,559 464,867 8,432 - (Gain)/loss of Three Supplies and Property Management (126,425) (200,683) 433,989 - Operating lease charge — — 377,162 - Government grants (739,740) (818,101) (521,380) - Penalties 22,279 23,614 27,409 - Donations 55,663 47,393 19,460 - Land use right expense — — 54,487 - Others 525,637 698,006 678,720 Total 20,300,072 16,879,425 10,430,998 |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2020 | |
Property, plant and equipment . | |
Property, plant and equipment | 7 Property, plant and equipment Electric utility Transport- Dams Port facilities Buildings plant in service ation facilities Others CIP Total As at 1 January 2019 Cost 2,308,072 3,409,830 12,566,461 472,814,967 1,219,218 7,226,391 27,112,542 526,657,481 Accumulated depreciation (301,125) (560,284) (4,147,947) (221,703,642) (486,676) (4,722,608) — (231,922,282) Accumulated impairment losses (402,223) — (120,296) (11,099,636) — (38,205) (1,013,567) (12,673,927) Net book value 1,604,724 2,849,546 8,298,218 240,011,689 732,542 2,465,578 26,098,975 282,061,272 Year ended 31 December 2019 Beginning of the year 1,604,724 2,849,546 8,298,218 240,011,689 732,542 2,465,578 26,098,975 282,061,272 Upon adoption of IFRS 16 — — — (1,387,259) — (229,292) — (1,616,551) Beginning of the year (restated) 1,604,724 2,849,546 8,298,218 238,624,430 732,542 2,236,286 26,098,975 280,444,721 Reclassification — (1,104,389) 6,313 (183) — 1,098,259 — — Acquisition — — — — — — 2,038,550 2,038,550 Additions — — 7,249 187,370 242 164,909 29,978,861 30,338,631 Transfer from CIP 39 1,794,267 771,582 17,261,238 190,777 158,621 (20,176,524) — Disposals/write-off (2,292) — (470,877) (157,316) (4) (4,664) — (635,153) Depreciation charge (42,965) (88,629) (430,155) (20,057,767) (69,473) (449,818) — (21,138,807) Impairment charge — (439,190) (116,355) (3,864,903) (993) (43,432) (1,255,117) (5,719,990) Currency translation differences — — — 298,193 — (3,764) 526 294,955 End of the year 1,559,506 3,011,605 8,065,975 232,291,062 853,091 3,156,397 36,685,271 285,622,907 As at 31 December 2019 Cost 2,305,554 3,975,987 12,916,746 488,256,686 1,410,233 8,429,661 38,949,263 556,244,130 Accumulated depreciation (343,836) (525,192) (4,614,648) (241,169,240) (556,149) (5,191,819) — (252,400,884) Accumulated impairment losses (402,212) (439,190) (236,123) (14,796,384) (993) (81,445) (2,263,992) (18,220,339) Net book value 1,559,506 3,011,605 8,065,975 232,291,062 853,091 3,156,397 36,685,271 285,622,907 Year ended 31 December 2020 Beginning of the year 1,559,506 3,011,605 8,065,975 232,291,062 853,091 3,156,397 36,685,271 285,622,907 Reclassification (73,290) — 124,978 38,186 (75,100) (14,774) — — Acquisition (Note 39) — — 11,222 975,303 — 4,081 1,878 992,484 Additions — — 12,839 622,380 — 163,389 42,976,346 43,774,954 Transfer from CIP 4,773 24,938 447,047 27,265,667 7,305 259,431 (28,009,161) — Other additions — — 23,652 189,847 — 9,185 — 222,684 Reclassification to Investment property — — (1,348) — — — — (1,348) Disposals/write-off — — (10,259) (594,632) (24) (9,613) — (614,528) Depreciation charge (43,218) (126,252) (537,815) (20,139,034) (59,926) (468,716) — (21,374,961) Impairment charge (92,026) — (109,205) (7,552,442) — (24,875) (68,830) (7,847,378) Other decrease — — — (262,788) — — — (262,788) Currency translation differences — — — (332,568) — (3,476) (4,840) (340,884) End of the year 1,355,745 2,910,291 8,027,086 232,500,981 725,346 3,071,029 51,580,664 300,171,142 As at 31 December 2020 Cost 2,218,159 4,000,925 13,496,843 511,570,031 1,334,131 8,504,371 53,909,608 595,034,068 Accumulated depreciation (402,811) (651,444) (5,127,671) (256,998,944) (608,003) (5,331,854) — (269,120,727) Accumulated impairment losses (459,603) (439,190) (342,086) (22,070,106) (782) (101,488) (2,328,944) (25,742,199) Net book value 1,355,745 2,910,291 8,027,086 232,500,981 725,346 3,071,029 51,580,664 300,171,142 Interest capitalization Interest expense of approximately RMB928 million (2019: RMB580 million) arising on borrowings for the construction of property, plant and equipment was capitalized during the year and was included in ‘Additions’ in property, plant and equipment. The weighted average capitalization rate was approximately 4.12% (2019: 4.44%) per annum. 7 Property, plant and equipment (continued) Impairment Note 1: Impairment of CGUs For each CGU with indicator of impairment, the Group determines the recoverable amount based on the discounted future cash flow of the CGU. An impairment loss is recognized if the carrying amount of the CGU exceeds its recoverable amount. In 2020, impairment losses of property, plant and equipment amounting to RMB7,779 million were recognized, including RMB7,435 million for CGUs and RMB344 million for individual assets. The details are as follows: Net book value of CGUs after impairment Impairment recognized (RMB million) (RMB million) 31 December 2020 (For the year ended 31 December) Land use right and Electric other assets utility plant included in Company Name Buildings in service CGUs 2020 2019 2018 Huaneng Yichun Thermal Power Limited Company (“Yichun Thermal Power”) (a) 50 1,488 242 721 — — Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy”) (b) 20 310 162 492 — — Huaneng Shandong Power Generation Co., Ltd. Baiyanghe Power Plant ("Baiyanghe Power Plant ") (c) 47 1,035 90 750 — — Huaneng Shandong Power Generation Co., Ltd. Zhongtai Power Plant ("Zhongtai Power Plant ") (c) 4 159 42 457 — — Huaneng Jiaxiang Power Generation Limited Company ("Jiaxiang Power") (c) 49 639 125 625 — — Huaneng Jining Yunhe Power Generation Co., Ltd. ("Yunhe Power") (c) 11 1,185 227 986 — — Huaneng Shandong Power Generation Co., Ltd. Yantai Power Plant ("Yantai Power Plant") (c) 34 331 280 661 — — Huaneng Liaocheng Co-generation Limited Company ("Liaocheng Co-generation ") (c) 6 1,388 458 700 — — Huaneng Linyi Power Generation Limited Company ("Linyi Power") (c) 8 2,080 226 979 — — Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) 5 586 12 352 — — Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) — 886 63 274 — — Huaneng Zuoquan Coal-fired Power Generation Limited Liability Company ("Zuoquan Coal-fired Power ") (f) 35 2,660 57 270 — — Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) 3 42 270 168 — — Total 272 12,789 2,254 7,435 — — 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (a) Yichun Thermal Power Yichun Thermal Power operates two 350MW combined heat and power coal-fired units. No.1 and No.2 generation units were put into operation in September and December 2015 respectively. Due to the gradual depletion of resources in the major coal cities in Heilongjiang Province and the effects from the national policy of cutting overcapacity in the coal sector, Yichun Thermal Power’s performance has fallen sharply since 2019, with losses before income tax expense of RMB80 million and RMB160 million in 2019 and 2020 respectively (a profit of RMB37 million in 2018). During the impairment test in 2019, after a comprehensive analysis of both coal supply and demand sides of the province, management expected that the thermal coal price in Heilongjiang Province would gradually fall to a reasonable level in 2020, and therefore no impairment loss was recognized. In 2020, affected by the tighter coal import policies and policy rectification activities of the Inner Mongolia coal industry during the past 20 years, the supply tension of Heilongjiang Province's coal market was intensified, resulting in an increase in the coal price in Heilongjiang province as compared to the other areas of China. In 2020, the unit price of standard coal consumed by Yichun Thermal Power increased by RMB24.26/ton in comparison with 2019, higher than the FY 2020 forecasted coal price by RMB61.66/ton. In addition, as a result of the continuous growth of new energy power generation in Heilongjiang Province, the market share of thermal power was eroded. Thus, Yichun Thermal Power’s operating performance will not be improved in the short term. In 2020, Yichun Thermal Power carried out the impairment test of the above-mentioned CGU. The key assumptions used in estimating the recoverable amount include future sales volumes (power generation hours) and fuel prices. Other assumptions applied in the impairment tests include the average tariff. These assumptions are included in the following table: Sales volume ( Power Fuel prices (standard coal unit generation hours) Tariff (excluding tax) price excluding tax) Unit: hours/year Unit: RMB/MWh Unit: RMB/ton Actual in Actual in Actual in Forecast period 2020 Fluctuation Forecast period 2020 Fluctuation Forecast period 2020 Fluctuation 4,140 4,217 77 360.00 341.36 18.64 782.34-738.17 798.21 15.87-60.04 Based on the regional market performance and the relevant power trading policies, Yichun Thermal Power estimates the power generation hours during the forecast period to remain consistent with the actual power generation hours in 2020. The expected fuel prices are estimated based on the coal's source structure, supply and demand, as well as relevant industrial policies. Unlike other regions, the coal market in Heilongjiang constantly reduced excessive capacity in the coal sector until the end of 2020 while other provinces have mostly completed the reduction in 2018. When the reduction of overcapacity and the policy rectification activities of the Inner Mongolia coal industry during the past 20 years come to an end, the high coal price in Heilongjiang Province will gradually decrease, and difference from the national average coal price in the next few years will narrow. During the 2020 impairment test, the unit price of standard coal during the forecast period is expected to slightly decrease and stabilize at RMB738.17/ton. This price is above the forecasted price of RMB720/ton in 2019. The tariff in the forecast period is estimated to be RMB360.00/MWh excluding tax, based on the current tariff structure and the relevant power transaction policies. 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (a) Yichun Thermal Power (continued) In 2020, the recoverable amount was determined based on the discounted future cash flow of the CGU using the assumptions above and RMB721 million impairment losses of PPE were recognized. Management with the assistance of an independent appraiser Zhongjing Minxin (Beijing) Assets Appraisal Co., Ltd. determined the CGU’s recoverable amount. (b) Guilin Gas Energy Guilin Gas Energy operates 3 sets of 51 MW gas-steam combined cycle units, 3 sets of waste heat boilers, 2 sets of 25 MW extraction condensing turbines and 1 set of 7 MW back pressure steam turbines, with a total installed capacity of 210 MW. Guilin Gas Energy put into operation in 2017. According to the "Approval of Huaneng Guilin World Tourism Project" (Guifagai Energy [2013] No.1175) in Guangxi Zhuang Autonomous Region, the operation mode of Guilin Gas Energy is based on the "power generation by heat" principle, in which the amount of power generated is determined by the size of the heating load, and the electricity generated is a by-product of heat production. From 2018 to 2020, as the heating load of Guilin Yangtang Industrial Park where Guilin Gas Energy is located is significantly lower than the designed value and the growth remains slow, and the electricity quantity and tariff premium failed to meet the expectation, Guilin Gas Energy continued to suffer losses, and recognized losses before income tax expense of RMB119 million, RMB113 million and RMB52 million in 2018, 2019 and 2020, respectively. In 2019, Guilin Gas Energy believed that as the unit was recently put into operation, with customers continuously moving into the industrial park, the heating load would increase steadily in the future. In addition, the electricity quantity and tariff premium would also bring incremental benefits. Therefore, management performed impairment test and no impairment loss was recognized in 2019. In 2020, a number of potential major heating customers were affected by the changes in relocation policies, the planning of the industrial park and their own operational decisions and decided not to move to the Guilin Yangtang Industrial Park. Moreover, in December 2020, the company received "Letter on 2021 tariff premium of Huaneng Guilin Gas Distributed Energy Co., Ltd." (Guifagai Price Letter [2020] No.2455) from the Guangxi Zhuang Autonomous Region Development and Reform Commission. The letter clarified that the on-grid tariff premium for natural gas distributed power plants would not be increased, rather, it is expected to be further reduced to reach parity price. Considering the influence of decreased heat sales volumes and tariff premium, Guilin Gas Energy's operating performance will not be improved in the short term. 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (b) Guilin Gas Energy (continued) In 2020, Guilin Gas Energy carried out the impairment test of the above-mentioned CGU. The key assumptions used in estimating the recoverable amount include future sales volume (power generation hours and heat sales volumes). Other assumptions applied in the impairment tests include the average tariff. These assumptions are included in the following table: Sales volume Sales volume (Power generation hours) Tariff (Heat sales volume) Unit: hours/year Unit: RMB/MWh (10,000 tons/year) Actual in Actual in Actual in Forecast period 2020 Forecast period 2020 Forecast period 2020 2021:2,321 From 2021 to 2031: Subsidized tariff: 2021:34 2022:2,363 the subsidized tariff 620.70 2022:36 2023:2,388 2,110 is 620.70, the tariff Tariff without 2023:38 2024:2,421 without subsidies is subsidies 2024:40 After 2025: from 2,455 356.00 :356.00 From 2025 to 2035 hours to 3,738 hours From 2032 to 2047: increases by 2 per year 14 420.70 from 41 to 61; From 2036 to 2047 increases by 1 per year from 62 to 73. Management estimated heat sales volumes in the forecast period based on the current heating structure, the impacting factors on the heating capacity and the future development of the heating market. In 2021, the heat sales volumes are estimated to increase by 200 thousand tons in comparison with 2020, and to be 965,600 GJ (equivalent to 340 thousand tons). The main reason for the increase is that the northern heating pipeline of Guilin Gas Energy was put into operation by the end of January 2021 to supply heat to a beer company, which will increased the heating sales volume of around 200,000 tons, and the corresponding power generated will increase as well. After 2022, 11 newly developed customers in the area will achieve their designed production capacity, and new industrial customers will enter the area. Additionally, Guilin Gas Energy will continue to develop residential customers around the urban areas. Management expects the heating sales will gradually grow to 730,000 tons in 2047, representing approximately 83% of the designed capacity . Management estimated the power generation hours based on the scale of heat sales in each year during the forecast period. In 2021, as the northern heating pipeline of Guilin Gas Energy was officially put into operation, under the premise of ensuring the safe and stable operation of the power generating unit, the power generated is expected to be 487 million kWh (equivalent to 2,321 power generation hours). After 2022, with the expansion of Guilin Gas Energy's heat sales, it is reasonably expected that the power generation hours in the future will gradually increase from 2,363 hours in 2022 to 3,738 hours in the terminal period based on the "power generation by heat" principle. 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (b) Guilin Gas Energy (continued) Management estimates the average tariff during the forecast period based on the ratified tariff and related price policies. It is forecasted that from 2021 to 2031, the applicable price within the scope of 323 million subsidized electricity will be RMB620.7/MWh, and RMB356/MWh for non-subsidized electricity. The subsidies for internal combustion engines in the Guangxi Zhuang Autonomous Region come from raising the transmission and distribution prices in the autonomous region. In recent years, China has continued to reduce industrial and commercial tariff and transmission and distribution prices. With reference to the changes in wind power, photovoltaic and other renewable energy tariff subsidies, combined with the trend of gradually reducing the on-grid tariffs of natural gas power generation in various places, management expected that the tariff subsidies for gas turbine projects are likely to be cancelled between 2032 and 2034. The on-grid tariff estimated in the forecast period from 2032 to 2047 is RMB420.7/MWh based on the benchmark on-grid tariff of coal-fired units in the autonomous region. In 2020, the recoverable amount was determined based on the discounted future cash flow of the CGU using the assumptions above and RMB492 million impairment losses of PPE were recognized. Management with the assistance of an independent appraiser Beijing Guorongxinghua Assets Appraisal Co., Ltd. determined the CGU’s recoverable amount. (c) Baiyanghe Power Plant, Zhongtai Power Plant, Jiaxiang Power, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation and Linyi Power The Group operates 19 coal-fired power plants in Shandong province, among which 7 power plants have impairment indicators in 2020, including Baiyanghe Power Plant, Zhongtai Power Plant, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation, Linyi Power and Jiaxiang Power. As a result of the impairment assessment, PPE impairment losses of RMB5,158 million and goodwill impairment losses of RMB661 million were recognized during the year ended 31 December 2020. The remaining 12 power plants in Shandong province are as follows: a) Huaneng Power International, Inc. Jining Power Plant (“Jining Power Plant”) currently operates 2x135MW and 2x350MW coal-fired generating units, all located in Jinning city. All these 4 generation units were shut down for standby since November 2020 as required by Jining Municipal Government. Pursuant to Jining Municipal Government, the Company shall formally shut down the aforementioned 4 generation units, upon the completion of construction and power on-grid of another 2x600MW ultra-supercritical or high-efficiency environmental generation units. In 2020, Jining Municipal Government agreed to bear all the loss arising from the shut down for standby incurred by Jining Power Plant, and thus, management assessed no impairment necessary. In January 2021, Huaneng Shandong Power Generation Co., Ltd. ("Shandong Power") and Jining Municipal Government entered into an agreement stipulating that Shandong Power will obtain compensation for demolition and relocation from Jining Municipal Government and the agreed compensation amount is larger than the carrying amount of the CGU. 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (c) Baiyanghe Power Plant, Zhongtai Power Plant, Jiaxiang Power, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation and Linyi Power (continued) b) Another seven power plants that operate in Shandong province have generated high profits historically and expect to maintain strong performance, including Huaneng Power International, Inc. Dezhou Power Plant (“Dezhou Power Plant”), Huaneng Weihai Power Generation Limited Liability Company (“Weihai Power”), Huaneng Jinan Huangtai Power Limited Company (“Huangtai Power”), Huaneng Laiwu Power Generation Limited Company (“Laiwu Power”), Shandong Rizhao Power Generation Limited Company (“Rizhao Power”), Huaneng Shandong Power Generation Co., Ltd. Yantai Bajiao Power Plant (“Yantai Bajiao Power Plant”) and Huaneng Xindian Power Generation Co., Ltd. (“Xindian Power”), and therefore there was no impairment loss recognized after impairment assessment. c) Management performed impairment assessment on three power plants including Huaneng Qufu Co-generation Limited Company (“Qufu Co-generation”), Huaneng Zhanhua Co-generation Limited Company (“Zhanhua Co-generation”) and Huaneng Jining Hi-Tech Zone Co-generation Limited Company (“Jining Co-generation”) in 2019, and the relevant CGUs have already been fully impaired in 2019. d) The two 350MW co-generation units of Huaneng Qingdao Co-generation Limited Company (“Qingdao Co-generation”) are still in the construction phase as at 31 December 2020 and therefore there was no impairment loss recognized after impairment assessment. 1) Background of CGUs that recognized impairment during the year Baiyanghe Power Plant operates 2x145MW and 2x300MW combined heat and power coal-fired generation units, among which, 2x145MW generation units commenced production in September 2003, 2x300MW generation units commenced production in December 2009, and the total installed capacity is 890MW. Zhongtai Power Plant operates 2x150MW combined heat and power coal-fired generation units, No.1 and No.2 generation units commenced production in May 2007 and December 2007 respectively, and the total installed capacity is 300MW. Jiaxiang Power operates 2x330MW subcritical coal-fired power generation units, No.1 and No.2 generation units commenced production in October 2006 and May 2007 respectively, and the total installed capacity is 660MW. In February 2019, the phase I project completed the heating equipment transformation, resulting into 6 million m 2 2 Yunhe Power operates 4x145MW and 2x330MW combined heat and power coal-fired generation units, with a total installed capacity of 1,240MW. The generation units commenced production in 2000 (No.1 and No.2), 2003 (No.3), 2004 (No.4) and 2006 (No.5 and No.6), respectively. 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (c) Baiyanghe Power Plant, Zhongtai Power Plant, Jiaxiang Power, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation and Linyi Power (continued) 1) Background of CGUs that recognized impairment during the year (continued) Yantai Power Plant operates 1x110MW and 3x160MW combined heat and power coal-fired generation units, with a total installed capacity of 590MW. Among which, the 110MW generation units commenced production in April 1996, 3x160MW generation units commenced production in October and December 2005 and October 2006, respectively. The four combined heat and power coal-fired generation units of Yantai Power Plant are the only heating sources of the main territory of Yantai city, which are responsible for 75% of the residential heating services in the downtown of Yantai city and the steam services to certain industrial enterprises around. Liaocheng Co-generation operates 2x140MW and 2x330MW combined heat and power coal-fired generation units, with a total installed capacity of 940MW. The 2x140MW generation units commenced production in May and October 2003 respectively. The 2x330MW generation units commenced production in January and September 2006, respectively. Linyi Power operates 4x140MW and 2x350MW combined heat and power coal-fired generation units, with a total installed capacity of 1,260MW. The 4x140MW generation units commenced production in December 1997, April 2003, September 2003 and April 2005 respectively. The 2x350MW generation units commenced production in December 2012 and October 2013 respectively. 2) Reasons for impairment In July 2018, Shandong Provincial Government issued the "Notice on Alternative Work Plan of Coal Consumption Reduction in Shandong Province from 2018 to 2020" (“the Notice”, Lu Zheng Fa Zi [2018] No. 123), which proposed to vigorously promotes the "transmission of power from outside to Shandong province" initiative to reduce coal consumption within Shandong province, and strengthen the construction of smart grids and elevate the role of 4 UHV transmission channels which transmit power from Ximeng to Jinan, from Yuheng to Weifang, from Shanghaimiao to Linyi, and from Jarud to Qingzhou. Pursuant to the Notice, Shandong province would strive for national support, enhance governmental cooperation with resource-rich provinces/regions such as Shanxi, Shaanxi, Inner Mongolia and Xinjiang, accelerate the development and construction of supporting facilities, explore energy supply channels outside Shandong province, and increase the proportion of renewable energy in the "transmission of power from outside to Shandong province" initiative. Up to 2020, Shandong province is capable of utilizing 35 million kilowatts from outside sources. Meanwhile, through initiatives including strengthening the development and utilisation of clean energy, reducing fossil energy consumption, and adopting measures to develop wind power, solar power, nuclear power and biomass power conducive to local conditions, the total power generation capacity of new energy and renewable energy in Shandong province will reach around 30 million kilowatts by 2020. 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (c) Baiyanghe Power Plant, Zhongtai Power Plant, Jiaxiang Power, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation and Linyi Power (continued) 2) Reasons for impairment (continued) In 2019, management considered the following aspects in the impairment assessment of the respective CGUs of the power plants operates in Shandong province: a) The power market structure, estimated impact of electricity generation hours imposed by the "transmission of power from outside to Shandong province" initiative and the increased installation capacity from new energy power plants; b) Fuel price estimates based on coal market trends, specifically, downward fluctuations of coal prices in 2019 and the first quarter of 2020, and relevant industrial policies, management expected the supply and demand of coal would be changed from a balanced condition in 2019 to oversupply in the future, and therefore the future fuel prices were expected to slightly decline in comparison with the actual prices in 2019. Management performed impairment assessment on those CGUs with impairment indicators and calculated the recoverable amounts of the future discounted cash flows by considering the aforementioned key assumptions. As a result, impairment losses of RMB892 million were recognized in 2019 for Qufu Co-generation, Zhanhua Co-generation and Jining Co-generation, while no impairment loss was recognized for other power plants. In 2020, the construction of new energy generating units in Shandong province and the power generation volume through the implementation of "transmission of power from outside to Shandong province" initiative have exceeded expectations. By the end of September 2020, the generation capacity of new energy and renewable energy reached a year-on-year increase of 19.9% to be 41.06 million kilowatts, which far exceeds the target of 30 million kilowatts set in the Notice, which means the increased scale of the renewable energy is greater than expectation. Besides, the market traded electricity volume under the "transmission of power from outside to Shandong province" initiative increased by 22.997 billion kWh at an increase rate of 24.56%, from 93.603 billion kWh in 2019 to 116.6 billion kWh in 2020, which far exceeds the increase rate of 8.55% of the first quarter of 2020 that was available when the Group’s 2019 consolidated financial statements have been approved for issuance. This shows that the market traded electricity volume under the "transmission of power from outside to Shandong province" initiative is greater than expectation. In summary, the actual coal-fired power generated in Shandong province in 2020 declined more than anticipated. In 2020, Shandong province directly dispatched public coal-fired power generation volume was 236.9 billion kWh, a year-on-year decrease of 9.32%, and the power generation hours were 4,049 hours, a year-on-year decrease of 380 hours. As for Shandong Power, its directly dispatched public coal-fired power generation volume was 81.536 billion kWh, a year-on-year decrease of 9.43%, and its generation hours of directly dispatched public coal-fired power were 4,007 hours, which is 42 hours less than the provincial average. 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (c) Baiyanghe Power Plant, Zhongtai Power Plant, Jiaxiang Power, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation and Linyi Power (continued) 2) Reasons for impairment (continued) The reduction in power generation hours was the main reason why the profit forecasts for the seven power plants of Baiyanghe Power Plant, Zhongtai Power Plant, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation, Linyi Power and Jiaxiang Power, were not met in 2020. Considering the long-term impact of the “transmission of power from outside to Shandong province” initiative and the effects of the increased power generation from new energy power plants and other aspects of market supply and demand, management estimated that the future power generation volume would not recover to the levels of 2019 and before. Nevertheless, the supply and demand in domestic coal market has gone through changes in 2020. Although the average domestic coal prices of 2020 decreased than that of 2019, affected by the COVID-19 pandemic, the national coal prices went down and then rose up, bottomed out and rebounded in the fourth quarter of 2020. Overall, the fluctuation of coal prices is intricate and has its own periodic regulation, which means that the coal prices may rise on the basis of 2020 in the long run. 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (c) Baiyanghe Power Plant, Zhongtai Power Plant, Jiaxiang Power, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation and Linyi Power (continued) 3) Assumptions of impairment assessment In 2020, the key assumptions used in estimating the recoverable amount of the CGUs include future sales volume (power generation hours) and the fuel prices. Other assumptions applied in the impairment tests include the average tariff. The assumptions were shown in the following table: Unit Name Sales volume Fuel prices (Power generation hours) Tariff (including tax) (standard coal unit price excluding tax) Unit: hours/year Unit: RMB/MWh Unit: RMB/ton Forecast period Actual in 2020 Forecast period Actual in 2020 Forecast period Actual in 2020 Baiyanghe Power Plant 3,850 3,906 393.88 400.60 664.33 639.09 Zhongtai Power Plant 3,750 (Note 1-1) 5,607 393.86 395.22 624 576.98 2021: 389.90 397.63 2021: 677.00 624 2022: 388.40 After 2022: 662.00 Jiaxiang Power 3,900 3,952 After 2023: 386.90 Yunhe Power 3,900 (Note 1-2) 3,828 2021: 396.90 402.71 671.15 642.81 2022: 395.90 After 2023: 394.90 Yantai Power Plant 4,250 (Note 1-3) 4,182 410.97 410.82 695 (Note 1-4) 715.63 Liaocheng Co-generation 3,900 4,016 394.90 397.42 628.93 617.47 Linyi Power 3,900 4,126 392.91 408.55 705.66 692.23 7 Property, plant and equipment (continued) Impairment (continued) Note 1: Impairment of CGUs (continued) (c) Baiyanghe Power Plant, Zhongtai Power Plant, Jiaxiang Power, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation and Linyi Power (continued) Sales volume (Power generation hours): Management estimated the power generation hours in the forecast period based on the market condition and the relevant power trading policies. Generally speaking, the forecasted power generation hours slightly decreased compared with the actual power generation hours in 2020, mainly due to the following reasons: a) The power generation levels of directly dispatched public coal-fired power units in Shandong province in 2021 is estimated to remain consistent with the actual power generation levels in 2020. According to the “Shandong Power Grid 2020 and Fourth Quarter Electricity Market Trading Information Report” released by Shandong Power Trading Center, the total electricity consumpti |
Investments in associates and j
Investments in associates and joint ventures | 12 Months Ended |
Dec. 31, 2020 | |
Investments in associates and joint ventures | |
Investments in associates and joint ventures | 8 Investments in associates and joint ventures 2020 2019 Beginning of the year 20,783,259 19,553,964 Capital injections in associates and joint ventures 596,877 313,197 Share of net profit less loss 1,774,322 1,185,622 Share of other comprehensive (loss)/income (182,849) 368,696 Share of other capital reserve of equity-method investees 7,607 — Dividends (603,839) (638,220) End of the year 22,375,377 20,783,259 8 Investments in associates and joint ventures (continued) As at 31 December 2020, investments in associates and joint ventures of the Group are unlisted except for Shenzhen Energy Corporation Limited (“SECL”), which is listed on the Shenzhen Stock Exchange. The following list contains only the particulars of material associates and joint ventures: Country of Business nature and scope of Percentage of equity interest held Name incorporation Registered capital operation Direct Indirect 1 Associates: Huaneng Sichuan Hydropower Co., Ltd. (“Sichuan Hydropower”) PRC RMB1,469,800,000 Development, investment, construction, operation and management of hydropower 49 % — SECL* PRC RMB3,964,491,597 Energy and investment in related industries 25.02 % — Hebei Hanfeng Power Generation Limited Liability Company (“Hanfeng Power”) PRC RMB1,975,000,000 Power generation 40 % — Huaneng Finance PRC RMB5,000,000,000 Provision for financial service including fund deposit and lending services, finance lease arrangements, notes discounting and entrusted loans and investment arrangements within Huaneng Group 20 % — China Huaneng Group Fuel Co., Ltd. (“Huaneng Group Fuel Company”) ** PRC RMB3,000,000,000 Wholesale of coal, import and export of coal 50 % — Hainan Nuclear Power Limited Liability Company (“Hainan Nuclear”) PRC RMB5,134,560,000 Construction and operation of nuclear power plants; production and sales of electricity and related products 30 % — Joint ventures: Shanghai Time Shipping Co., Ltd. (“Shanghai Time Shipping”) PRC RMB1,200,000,000 International and domestic sea transportation 50 % — Jiangsu Nantong Power Generation Co., Ltd. (“Jiangsu Nantong Power”) PRC RMB1,596,000,000 Operation and Management of power generation plants and transportation related projects — 35 % 1 The indirect percentage of equity interest held represents the effective ownership interest of the Group. * As at 31 December 2020, the fair value of the Group’s shares in SECL was RMB7,248 million (2019: RMB6,159 million). ** In accordance with the articles of association of the investee, the Group could only exercise significant influence on the investee and therefore has accounted for the investment under the equity method. 8 Investments in associates and joint ventures (continued) All the above associates and joint ventures are accounted for under the equity method in the consolidated financial statements. Summarized financial information of the material associates, adjusted for any differences in accounting policies and acquisition adjustments, and reconciliation to the carrying amounts in the consolidated financial statements, are disclosed below: Huaneng Group Sichuan Hydropower SECL Huaneng Finance Hanfeng Power Fuel Company Hainan Nuclear 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Gross amounts of the associates’ Current assets 825,632 873,821 21,111,690 20,887,020 27,426,242 23,099,357 964,515 849,386 5,263,174 6,010,002 1,894,806 3,085,059 Non-current assets 14,836,413 14,305,871 92,332,480 76,623,640 20,003,370 20,746,004 1,279,233 1,661,565 3,641,641 3,781,166 19,826,469 20,749,672 Current liabilities (3,731,524) (2,772,221) (22,565,250) (25,533,260) (40,458,908) (36,733,579) (328,093) (442,628) (3,066,531) (3,827,415) (4,025,596) (3,338,370) Non-current liabilities (7,171,879) (7,788,402) (48,951,200) (38,446,550) (553) (30,867) (36,218) (166,718) (1,780,436) (2,121,112) (13,041,682) (15,930,100) Equity 4,758,642 4,619,069 41,927,720 33,530,850 6,970,151 7,080,915 1,879,437 1,901,605 4,057,848 3,842,641 4,653,997 4,566,261 -Equity attributable to shareholders 3,568,982 3,464,302 27,346,169 24,103,107 6,970,151 7,080,915 1,879,437 1,901,605 3,688,698 3,590,096 4,653,997 4,566,261 -Non-controlling interests 1,189,660 1,154,767 14,581,551 9,427,743 — — — — 369,150 252,545 — — Revenue 2,396,218 2,252,535 20,597,600 20,851,430 1,600,537 1,574,856 1,873,548 2,081,865 29,928,618 27,832,662 3,367,222 3,453,022 Gross profit/(loss) 701,606 575,401 5,952,100 6,472,550 1,014,653 1,064,181 22,637 (46,899) 284,754 173,371 147,629 142,906 Net profit/(loss) 555,009 509,034 4,248,550 1,749,600 943,215 1,004,048 6,426 (54,444) 222,488 150,460 77,037 307,135 Profit/(loss) from continuing operations attributable to shareholders 348,660 327,042 3,929,390 1,598,540 943,215 1,004,048 6,426 (54,444) 207,297 144,500 77,037 307,135 Other comprehensive (loss)/income attributable to shareholders — — (578,559) 1,589,390 (153,979) (150,286) — — (8,695) 2,164 — — Total comprehensive income/(loss) attributable to shareholders 348,660 327,042 3,350,831 3,187,930 789,236 853,762 6,426 (54,444) 198,602 146,664 77,037 307,135 Dividend received from the associates 98,449 116,505 49,587 49,587 180,000 146,000 — 43,132 50,000 20,000 — — Reconciled to the interests in the associates Gross amounts of net assets attributable to shareholders of the associates 3,568,982 3,464,302 27,346,169 24,103,107 6,970,151 7,080,915 1,879,437 1,901,605 3,688,698 3,590,096 4,653,997 4,566,261 The Group’s effective interest 49 % 49 % 25.02 % 25.02 % 20 % 20 % 40 % 40 % 50 % 50 % 30 % 30 % The Group’s share of net assets attributable to shareholders of the associates 1,748,801 1,697,508 6,842,011 6,030,597 1,394,030 1,416,183 751,775 760,642 1,844,349 1,795,048 1,396,199 1,369,878 Impact of adjustments 207,586 207,586 1,161,810 1,161,810 — — 293,082 293,082 16,521 16,521 14,076 14,076 Carrying amount in the consolidated financial statements 1,956,387 1,905,094 8,003,821 7,192,407 1,394,030 1,416,183 1,044,857 1,053,724 1,860,870 1,811,569 1,410,275 1,383,954 8 Investments in associates and joint ventures (continued) Summarized financial information of material joint ventures adjusted for any differences in accounting policies and acquisition adjustment, and reconciliation to the carrying amount in the consolidated financial statements, are disclosed below: Shanghai Time Shipping Jiangsu Nantong Power 2020 2019 2020 2019 Gross amounts of joint ventures’ Current assets 318,387 280,687 742,195 396,850 Non-current assets 3,910,739 4,083,160 4,740,502 5,294,584 Current liabilities (2,375,821) (2,367,244) (2,046,053) (2,660,119) Non-current liabilities — (54,623) (1,318,905) (901,583) Equity 1,853,305 1,941,980 2,117,739 2,129,732 Revenue 1,143,885 1,613,813 3,118,059 2,959,197 Gross profit 169,040 135,846 541,305 490,578 Net profit 11,325 121,284 240,436 211,589 Total comprehensive income 11,325 121,284 240,436 211,589 Dividend received in cash from the joint ventures 50,000 — 126,215 145,143 Reconciled to the interests in the joint ventures: Gross amounts of net assets 1,853,305 1,941,980 2,117,739 2,129,732 The Group’s effective interest rates 50 % 50 % 50 % 50 % The Group’s share of net assets 926,653 970,990 1,058,870 1,064,866 Impact of adjustments 18,324 18,324 — — Carrying amount in the consolidated financial statements 944,977 989,314 1,058,870 1,064,866 Aggregate information of associates and joint ventures that are not individually material: 2020 2019 Aggregate carrying amount of individually immaterial associates and joint ventures in the consolidated financial statements 4,701,290 3,966,148 Aggregate amounts of the Company and its subsidiaries' share of those associates and joint ventures Profit from continuing operations 190,029 123,869 Total comprehensive income 190,029 123,954 As at 31 December 2020, the Group’s share of losses of associates and a joint venture exceeded its interests in associates and a joint venture and the unrecognized further losses amounted to RMB552 million (2019:RMB538 million). As at 31 December 2020, there were no proportionate interests in the associates’ and joint ventures’ capital commitments (31 December 2019: Nil). There were no material |
Investments in subsidiaries
Investments in subsidiaries | 12 Months Ended |
Dec. 31, 2020 | |
Investments in subsidiaries | |
Investments in subsidiaries | 9 Investments in subsidiaries As at 31 December 2020, the investments in subsidiaries of the Group, all of which are unlisted, are as follows: (i) Subsidiaries acquired through establishment or investment Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng International Power Fuel Limited Liability Company PRC Held directly RMB 200,000,000 Wholesale of coal 100 % 100 % Huaneng Nantong Power Generation Limited Liability Company PRC Held indirectly RMB 798,000,000 Power generation 70 % 70 % Yingkou Co-generation PRC Held directly RMB 875,675,300 Production and sale of electricity and heat sale of coal ash and lime 100 % 100 % Huaneng Hunan Xiangqi Hydropower Co., Ltd. PRC Held directly RMB 328,000,000 Construction, operation and management of hydropower plants and related projects 100 % 100 % Zuoquan Coal-fired Power PRC Held directly RMB 960,996,200 Construction, operation and management of electricity projects; development and utilisation of clean energy resources 80 % 80 % Huaneng Kangbao Wind Power Utilisation Limited Liability Company PRC Held directly RMB 543,200,000 Construction, operation and management of wind power plants and related projects; solar power generation 100 % 100 % Huaneng Jiuquan Wind Power Generation Co., Ltd (“Jiuquan Wind Power”) PRC Held directly RMB 2,761,480,000 Construction, operation and management of wind power generation and related projects 100 % 100 % Huaneng Rudong Wind Power Generation Co., Ltd. PRC Held indirectly RMB 90,380,000 Operation, management of wind power generation projects 90 % 90 % Huaneng Guangdong Haimen Port Limited Liability Company PRC Held indirectly RMB 331,400,000 Loading, warehousing and conveying services, providing facility services and water transportation services 100 % 100 % Huaneng Taicang Port Limited Liability Company PRC Held indirectly RMB 600,000,000 Port provision, cargo loading and storage 85 % 85 % Huaneng Taicang Power Generation Co., Ltd. PRC Held indirectly RMB 883,899,310 Power generation 75 % 75 % Huaneng Huaiyin II Power Generation Limited Company PRC Held indirectly RMB 930,870,000 Power generation 63.64 % 63.64 % Xindian Power PRC Held directly RMB 991,915,789 Power generation 95 % 95 % Huaneng Shanghai Combined Cycle Power Limited Liability Company PRC Held directly RMB 699,700,000 Power generation 70 % 70 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Yumen Wind Power Generation Co., Ltd PRC Held directly RMB 785,960,000 Construction, operation and management of wind power generation and related projects 100 % 100 % Qingdao Co-generation PRC Held directly RMB 498,729,045 Construction, operation and management of co-generation power plants and related projects 100 % 100 % Huaneng Tongxiang Combined Cycle Co-generation Co., Ltd. PRC Held directly RMB 300,000,000 Production and sale of electricity and heat; investment in combined cycle co-generation industries 95 % 95 % Huaneng Shantou Haimen Power Generation Limited Liability Company PRC Held indirectly RMB 1,508,000,000 Construction, operation and management of power plants and related projects 80 % 80 % Huaneng Chongqing Liangjiang Power Generation Limited Liability Company (“Liangjiang Power”) PRC Held directly RMB 726,600,000 Construction, operation and management of natural gas power plants and related projects 90 % 90 % Huaneng Yunnan Fuyuan Wind Power Generation Co., Ltd. PRC Held directly RMB 326,290,000 Wind power project investment, management and sales 100 % 100 % Huaneng Guizhou Panzhou State City Wind Power Co., Ltd. PRC Held directly RMB 188,180,000 Construction and management of wind power plants and related projects 100 % 100 % Huaneng Jiangxi Clean Energy Limited Liability Company PRC Held directly RMB 1,384,502,000 Power generation and supply development, management and construction of clean energy resource 100 % 100 % Huaneng Hunan Subaoding Wind Power Generation Co., Ltd. PRC Held directly RMB 266,000,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Suixian Jieshan Wind Power Generation Co., Ltd. PRC Held directly RMB 183,500,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Taiyuan Dongshan Combined Cycle Co-generation Co., Ltd. PRC Held directly RMB 731,710,000 Construction and operation of thermal heating networks, development and utilisation of clean energy resources 82 % 82 % Huaneng Xuzhou Tongshan Wind Power Generation Co., Ltd. (“Tongshan Wind Power”) PRC Held indirectly RMB 287,951,400 Wind power generation, electricity engineering design services maintenance of power supply and control facilities, solar energy power generation 70 % 70 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Nanjing Co-generation Co., Ltd. PRC Held indirectly RMB 320,400,000 Construction and operation of power plants, and thermal heating services 70 % 70 % Huaneng Hunan Guidong Wind Power Generation Co., Ltd. PRC Held directly RMB 140,000,000 Investment, construction, operation and management of electricity projects; development and utilisation of clean energy resources 100 % 100 % Huaneng Nanjing Luhe Wind Power Generation Co., Ltd. PRC Held indirectly RMB 84,800,000 Investment, construction, operation, management of electricity projects; development and utilisation of clean energy resources 100 % 100 % Luoyuan Power PRC Held indirectly RMB 1,163,100,000 Construction, operation and management of power plants and related projects 100 % 100 % Huaneng Lingang (Tianjin) Gas Co-generation Co., Ltd. PRC Held directly RMB 332,000,000 Power generation and supply 100 % 100 % Huaneng Lingang (Tianjin) Heat Co-generation Co., Ltd. PRC Held indirectly RMB 5,000,000 Providing thermal energy and cold energy services, supplying steam and hot water (except portable water), plumbing pipe installation and repair, energy engineering construction 66 % 66 % Huaneng Anhui Huaining Wind Power Generation Co., Ltd. PRC Held directly RMB 301,500,000 Investment, construction and operation of electricity projects development and utilisation of clean energy resources 100 % 100 % Huaneng Mianchi Co-generation Limited Liability Company PRC Held directly RMB 570,000,000 Construction, operation and management of coal-fired plants and related projects 60 % 60 % Xianrendao Co-generation PRC Held directly RMB 352,020,000 Power generation and supply development and utilisation of clean energy resources 100 % 100 % Huaneng Nanjing Xingang Comprehensive Energy Co., Ltd. PRC Held indirectly RMB 198,664,300 Thermal generation and supply, power distribution and sale 65 % 65 % Huaneng Changxing Photovoltaic Power Generation Limited Liability Company (“Changxing Photovoltaic Power”) PRC Held indirectly RMB 26,000,000 Construction and operation of distributed photovoltaic power generation plants and related projects 100 % 100 % Huaneng Rudong Baxianjiao Offshore Wind Power Generation Co., Ltd. PRC Held indirectly RMB 1,629,338,700 Infrastructure construction of wind power plants 70 % 70 % Guilin Gas Energy PRC Held directly RMB 267,450,000 Construction, operation and management of power plants and thermal energy 80 % 80 % Huaneng (Dalian) Co-generation Co., Ltd. PRC Held directly RMB 799,851,769 Construction, operation and management of co-generation power plants and related projects 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Zhongxiang Wind Power Generation Co., Ltd PRC Held directly RMB 240,000,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Guanyun Co-generation Co., Ltd PRC Held indirectly RMB 224,774,000 Construction, operation and management of co-generation power plants, heating network and expansion engineering 100 % 100 % Huaneng International Power Hong Kong Limited Company Hong Kong Held directly 100,000 Shares Development, construction management and operation of power supply, coal projects; related investment and financing businesses 100 % 100 % Tuas Power Generation Pte. Ltd. (“TPG”) Singapore Held indirectly S$ 1,183,000,001 Power generation and related by-products, derivatives, developing power supply resources operating electricity and power sales 100 % 100 % TP Utilities Pte. Ltd. (“TPU”) Singapore Held indirectly S$ 255,500,001 Provision of energy, power supply, thermal supply, management of industrial water and waste 100 % 100 % TP-STM Water Resources Pte. Ltd. Singapore Held indirectly S$ 4,500,000 Providing desalinated water 60 % 60 % TP-STM Water Services Pte. Ltd. Singapore Held indirectly S$ 21,000 Providing desalinated water 60 % 60 % Huaneng Shanxi Taihang Power Generation Limited Liability Company PRC Held directly RMB 1,086,440,000 Pre-services related to coal-fired generation 60 % 60 % Huaneng Mianchi Clean Energy Limited Liability Company PRC Held directly RMB 291,800,000 Wind power generation, new energy development and utilisation 100 % 100 % Huaneng Zhuolu Clean Energy Limited Liability Company PRC Held directly RMB 159,178,100 Construction, operation and management of power plants and related projects 100 % 100 % Tongwei Wind Power PRC Held directly RMB 264,640,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Yizheng Wind Power Generation Limited Liability Company PRC Held indirectly RMB 200,000,000 Wind power plants design, construction, management and maintenance 100 % 100 % Huaneng Yancheng Dafeng New Energy Power Generation Limited Liability Company PRC Held indirectly RMB 1,721,000,000 Construction, operation and management of wind power photovoltaic power plant 100 % 100 % Huaneng Shanyin Power Generation Limited Liability Company PRC Held directly RMB 1,573,000,000 Construction, operation and management of power plants and related projects 51 % 51 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Jiangsu Energy Sales Limited Liability Company PRC Held indirectly RMB 200,000,000 Purchase and sale of electricity and thermal energy water supply services, construction and operation of electricity distribution networks and heating pipe networks 100 % 100 % Huaneng Liaoning Energy Sales Limited Liability Company PRC Held directly RMB 200,000,000 Sale of electricity, thermal energy and hot water circulation 100 % 100 % Huaneng Guangdong Energy Sales Limited Liability Company PRC Held indirectly RMB 200,000,000 Power and thermal energy supply, energy conservation technology service, transmission and substation projects contracting 100 % 100 % Huaneng Suizhou Power Generation Limited Liability Company PRC Held directly RMB 96,020,000 Construction, operation and management of power plants, production and sale of electricity and heat 100 % 100 % Huaneng Changle Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 15,570,000 Construction, operation and management of photovoltaic power plants and related projects 100 % 100 % Huaneng Longyan Wind Power Generation Limited Liability Company PRC Held indirectly RMB 35,000,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Dandong Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 17,720,000 Investment, construction operation and management of electricity projects, development and utilisation of clean energy resources 100 % 100 % Huaneng Dongguan Combined Cycle Co-generation Limited Liability Company PRC Held indirectly RMB 658,940,000 Investment of electricity projects, thermal power generation and supply, investment in heating pipe networks, development and utilisation of clean energy resources 80 % 80 % Huaneng Chongqing Fengjie Wind Power Generation Limited Liability Company PRC Held directly RMB 183,900,000 Electricity production and supply; development and utilisation of clean energy resources 100 % 100 % Huaneng Jingxing Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 23,500,000 Investment, construction and management of photovoltaic power plants 100 % 100 % Huaneng Shanxi Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Electricity supply and sales investment, construction, operation and repair of regional transmission and distribution networks 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Chongqing Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Operation of natural gas, electric energy and thermal energy product sale 100 % 100 % Luohuang Energy Sales PRC Held indirectly RMB 210,000,000 Sale and supply of electricity, sale of thermal products 90 % 90 % Huaneng Chongqing Tongliang Energy Sales Limited Liability Company PRC Held indirectly RMB 210,000,000 Operation of natural gas, sale of electricity supply, sale of thermal products 51 % 51 % Huaneng Hunan Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Electricity and thermal energy product sale 100 % 100 % Huaneng Jiangxi Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Construction, operation and management of heat and power supply facilities 100 % 100 % Huaneng Hebei Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Construction, installation, maintenance and repair of heat and power supply facilities 100 % 100 % Huaneng Henan Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Sale of electricity, heat, gas and other energy products 100 % 100 % Huaneng Handan Heating Limited Liability Company PRC Held directly RMB 100,000,000 Construction, operation and maintenance of heating sources and pipe networks 100 % 100 % Huaneng (Huzhou Development Zone) Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 10,000,000 Photovoltaic power generation; power supply, purchase and sale 100 % 100 % Huaneng Fujian Energy Sales Limited Liability Company PRC Held indirectly RMB 210,000,000 Sale of electricity, heat, gas and other energy products 100 % 100 % Huaneng Hubei Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Sale of electricity, heat, gas and other energy products 100 % 100 % Huaneng (Sanming) Clean Energy Limited Liability Company PRC Held indirectly RMB 500,000 Construction, operation and management of wind power, photovoltaic power station and related projects 100 % 100 % Huaneng Yueyang Xingang Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 16,000,000 Construction, operation and management of electricity projects, development and utilisation of clean energy 60 % 60 % Huaneng Shanghai Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Power supply (except construction and operation of electricity networks), technology services in energy conservation and environmental protection 100 % 100 % Huaneng Anhui Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Sale of electricity, heat, gas and other energy products 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng (Shanghai) Power Maintenance Limited Liability Company PRC Held directly RMB 200,000,000 Contracting installation and repair of electricity facilities 100 % 100 % Huaneng Guanyun Clean Energy Power Limited Liability Company PRC Held indirectly RMB 1,221,246,000 Sale of electricity 100 % 100 % Huaneng Jianchang Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 94,870,000 Production and supply of electricity, and development and utilisation of clean energy resources 100 % 100 % Huaneng Chaoyang Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 30,090,000 Production and supply of electricity, and development and utilisation of clean energy resources 100 % 100 % Huaneng (Fujian) Port Limited Company PRC Held indirectly RMB 619,710,000 Port management, investment and development 100 % 100 % Huaneng Shijiazhuang Energy Limited Liability Company PRC Held directly RMB 60,000,000 Production and supply of heat, and purchase and sale of electricity 66.60 % 66.60 % Huaneng Jiangyin Combined Cycle Co-generation Limited Liability Company PRC Held indirectly RMB 600,000,000 Production and supply of electricity, and production and supply of heat 51 % 51 % Huaneng Anyang Energy Limited Liability Company PRC Held directly RMB 619,600,000 Production and supply of electricity, and production and supply of heat 100 % 100 % Huaneng Shanxi Comprehensive Energy Limited Liability Company (“Shanxi Comprehensive Energy”) PRC Held directly RMB 2,086,698,606 Production and supply of electricity, and production and supply of heat 100 % 100 % Zhaodong Huaneng Dechang Solar Power Generation Limited Company PRC Held indirectly RMB 30,810,000 Solar energy generation and technology promotion, and repair electricity facilities 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Daqing Huaneng Shuangyu Solar Power Generation Limited Company PRC Held indirectly RMB 80,796,000 Solar energy generation 100 % 100 % Huaneng Mingguang Wind Power Generation Limited Liability Company PRC Held directly RMB 13,000,000 Production and supply of electricity; investment, construction, operation and management of electricity projects 100 % 100 % Huaneng Guangxi Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Power supply, contracting installation and repair of electricity facilities 100 % 100 % Huaneng Hunan Lianping Wind Power Generation Limited Liability Company PRC Held directly RMB 173,920,000 Production and supply of electricity 80 % 80 % Huaneng Abagaqi Clean Energy Limited Liability Company PRC Held directly RMB 316,180,760 Production, supply and sale of electricity and thermal energy 100 % 100 % Huaneng Jiashan Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 10,000,000 Production and supply of electricity 100 % 100 % Huaneng Zhejiang Energy Sales Limited Liability Company PRC Held indirectly RMB 210,000,000 New energy technology development and technology consulting 100 % 100 % Huaneng Guangdong Shantou Power Generation Limited Liability Company PRC Held indirectly RMB 10,000,000 Production and supply of electricity and thermal energy 100 % 100 % Huaneng Shantou Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 100,000 Production and supply of electricity 100 % 100 % Huaneng Guigang Clean Energy Limited Liability Company PRC Held directly RMB 173,810,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Changxing Jiapu Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 10,000,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Hainan Energy Sales Limited Liability Company PRC Held indirectly RMB 210,000,000 Construction and operation of heat and power supply facilities, operation of heat resources, heat networks and power supply facilities 91.80 % 91.80 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Yangpu Co-generation Limited Company PRC Held indirectly RMB 802,222,000 Investment, construction, operation and management of electricity projects and heat pipe networks 82.62 % 82.62 % Huaneng Zhejiang Pinghu Offshore Wind Power Generation Co., Ltd. PRC Held indirectly RMB 2,200,000,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Liaoning Clean Energy Limited Liability Company (“Liaoning Clean Energy”) PRC Held directly RMB 1,726,573,590 Technology development technical advice services for clean energy 100 % 100 % Jiangsu Huaneng Zhongyang New Energy Power Generation Co., Ltd. PRC Held indirectly RMB 28,000,000 Production and supply of electricity, investment, construction and operation of electricity projects 75 % 75 % Huaneng Henan Puyang Clean Energy Limited Liability Company PRC Held directly RMB 1,491,567,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Guizhou Energy Sales Co., Ltd. PRC Held directly RMB 210,000,000 Sale of electricity, heat and gas 100 % 100 % Huaneng Guangdong Shantou Offshore Wind Power Generation Co., Ltd. PRC Held indirectly RMB 62,950,000 Investment and development of wind energy and new energy 100 % 100 % Jiyuan Huaneng Energy Sales Co., Ltd. PRC Held indirectly RMB 20,000,000 Sale of electricity, heat and gas 51 % 51 % Huaneng Yushe Poverty Relief Energy Co., Ltd. PRC Held indirectly RMB 14,760,000 Construction, operation and management of photovoltaic power generation and new energy projects 90 % 90 % Huaneng Anhui Mengcheng Wind Power Co., Ltd. PRC Held directly RMB 409,070,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Anshun Comprehensive Energy Co., Ltd. PRC Held directly RMB 10,530,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Shengdong Rudong Offshore Wind Power Co., Ltd. (“Huaneng Shengdong Rudong”) PRC Held indirectly RMB 1,575,960,000 Production and sale of electric power; investment in wind power generation 79 % 79 % 9 Investments in subsidiaries (continued) (i) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Zhejiang Cangnan Offshore Wind Power Co., Ltd. PRC Held directly RMB 10,000,000 Production and sale of electric power; and investment in wind power generation 100 % 100 % Huaneng Zhejiang Ruian Offshore Wind Power Co., Ltd. PRC Held indirectly RMB 10,000,000 Production and sale of electric power, and investment in wind power generation 100 % 100 % Huaneng (Shanghai) Photovoltaic Power Co., Ltd. (“Shanghai Photovoltaic Power”) PRC Held directly RMB 50,000,000 Technical service of wind power generation 100 % 100 % Sinosing Services PTE.Ltd. (“SSSPL”) Singapore Held indirectly USD 1 Investment service 100 % 100 % Huaneng Yangqu Wind Power Co., Ltd. (“Yangqu Wind Power”) PRC Held indirectly RMB 47,000,000 Construction, operation and management of wind power projects 100 % 100 % Huaneng Ruicheng Comprehensive Energy Co., Ltd. (“Ruicheng Comprehensive Energy”) PRC Held indirectly RMB 216,300,000 Construction, operation and management of new energy power projects, and power generation 100 % 100 % Huaneng Xiayi Wind Power Co., Ltd. (“Xiayi Wind Power”) PRC Held directly RMB 117,720,000 Production and sale of electric power, clean energy development and utilisation and investment in electricity projects 100 % 100 % Huaneng (Anhui Shitai) Wind Power Co., Ltd. (“Anhui Shitai Wind Power”) PRC Held directly RMB 63,600,000 Production and sale of electric power, clean energy development and utilisation and investment in electricity projects 100 % 100 % Huaneng (Tianjin) Energy Sales Co., Ltd. (“Tianjin Energy Sales”) PRC Held directly RMB 200,000,000 Power and thermal energy supply, energy conservation technology service, transmission and substation projects contracting 100 % 100 % Huaneng Qingneng Tongyu Power Co., Ltd. (“Qingneng Tongyu Power”) PRC Held indirectly RMB 180,000,000 Development and operation of new energy power projects 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Guanling New Energy Power Generation Co., Ltd. (“Guanling New Energy”) PRC Held directly RMB 100,000,000 Production and sale of electricity and heat 100 % 100 % Huaneng Luobei Wind Power Co., Ltd. (“Luobei Wind Power”) PRC Held indirectly RMB 364,000,000 Development and management of new energy technology, operation and management of wind power, and maintenance of wind power equipment 100 % 100 % Huaneng Sihong New Energy Co., Ltd. (“Sihong New Energy”) PRC Held indirectly RMB 150,000,000 Development and management of new energy technology 100 % 100 % Huaneng Taiqian Wind Power Co., Ltd. (“Taiqian Wind Power”) PRC Held directly RMB 101,136,800 Production and sale of electricity and heat, development, investment and management of new energy technology, and development and utilisation of clean energy 51 % 51 % Huaneng Zhenping Clean Energy Co., Ltd. (“Zhenping Clean Energy”) PRC Held directly RMB 80,000,000 Production and sale of electricity, and development and utilisation of clean energy 100 % 100 % Huaneng (Heze Dongming) New Energy Co., Ltd. (“Heze Dongming New Energy”) PRC Held directly RMB 188,980,000 Photovoltaic power generation, wind power generation and biomass power generation 100 % 100 % Huaneng Jiangkou Wind Power Co., Ltd. (“Jiangkou Wind Power”) PRC Held directly RMB 20,000,000 Production and sale of wind power, and development and utilisation of clean energy 100 % 100 % Chongqing Huaqing Energy Co., Ltd. (“Huaqing Energy”) (i) PRC Held indirectly RMB 44,420,000 Providing thermal energy and cold energy services; supplying electricity 54 % 60 % Shengdong Rudong Offshore Wind Power Co., Ltd. (“Shengdong Rudong Offshore Wind Power”)(i) PRC Held indirectly RMB 1,418,409,282 Ancillary projects, construction of wind farm and wind farm maintenance 79 % 100 % Huaneng Zhanhua Photovoltaic Power Generation Limited Company (“Zhanhua Photovoltaic Company”) (i) PRC Held indirectly RMB 145,790,000 Photovoltaic power generation 46.40 % 58 % Huaneng Dezhou New Energy Limited Company (i) PRC Held indirectly |
Other equity instrument investm
Other equity instrument investments | 12 Months Ended |
Dec. 31, 2020 | |
Other equity instrument investments | |
Other equity instrument investments | 10 Other equity instrument investments 31 December 2020 31 December 2019 Equity securities designated at FVOCI (non-recycling) Listed equity investments at fair value 6,662 8,390 Unlisted equity investments at fair value 7.89% of Ganlong Double-track Railway Co., Ltd. 504,309 678,565 Others 153,975 92,263 Subtotal 658,284 770,828 Total 664,946 779,218 The above equity investments were irrevocably designated at fair value through other comprehensive income as the Group considers these investments to be strategic in nature. |
Power generation licenses
Power generation licenses | 12 Months Ended |
Dec. 31, 2020 | |
Power generation licenses | |
Power generation licenses | 11 Power generation licenses The movements in the carrying amount of power generation license during the years are as follows: 2020 2019 Beginning of the year 4,149,468 4,014,972 Movement: Currency translation differences (194,485) 134,496 End of the year 3,954,983 4,149,468 The Group acquired the power generation license in connection with the acquisition of Tuas Power. The power generation license was initially recognized at fair value at the acquisition date. Tuas Power operates power plants in Singapore pursuant to the license granted by the Energy Market Authority for a period of 30 years from 2003 until 2032. The license was extended to 2044 during 2011 with minimal costs and is subject to further renewal. The Group expects that the applicable rules and regulations surrounding the renewal can be complied with based on the current market framework. The Group assessed the useful life of the power generation license at 31 December 2020 to be indefinite and therefore the license is not amortized. Impairment test of a power generation license Power generation license belongs to and has been assigned to Tuas Power, a CGU. There was no impairment provided for the power generation license for the year ended 31 December 2020 (2019: Nil). For key assumptions used for value-in-use calculations please refer to Note 14 for details. |
Mining rights
Mining rights | 12 Months Ended |
Dec. 31, 2020 | |
Mining rights | |
Mining rights | 12 Mining rights The movements in the carrying amount of mining rights during the years are as follows: 2020 2019 Beginning of the year Cost 2,472,886 2,406,567 Accumulated impairment losses (895,381) (895,381) Net book value 1,577,505 1,511,186 Movements: Addition 33,981 66,319 Impairment charge for the year — — End of the year 1,611,486 1,577,505 Cost 2,506,867 2,472,886 Accumulated impairment losses (895,381) (895,381) Net book value 1,611,486 1,577,505 In 2020, no impairment losses for mining rights (2019: Nil) have been recognized. |
Derivative financial instrument
Derivative financial instruments | 12 Months Ended |
Dec. 31, 2020 | |
Derivative financial instruments [abstract] | |
Derivative financial instruments | 13 Derivative financial instruments Details of derivative financial instruments are as follows: As at 31 December 2020 2019 Derivative financial assets -Hedging instruments for cash flow hedge (fuel swap contracts) 184,458 82,367 -Hedging instruments for cash flow hedge (exchange forward contracts) 275 4,319 -Financial instruments at fair value through profit or loss (fuel swap contracts) — 4,601 Total 184,733 91,287 Less: non-current portion -Hedging instruments for cash flow hedge (fuel swap contracts) 74,551 15,101 -Hedging instruments for cash flow hedge (exchange forward contracts) 3 1,275 Total non-current portion 74,554 16,376 Current portion 110,179 74,911 Derivative financial liabilities -Hedging instruments for cash flow hedge (fuel swap contracts) 45,111 243,045 -Hedging instruments for cash flow hedge (exchange forward contracts) 68,853 42,082 -Hedging instruments for cash flow hedge (interest rate swap contracts) 181,037 162,594 -Financial instruments at fair value through profit or loss (fuel swap contracts) — 2,987 Total 295,001 450,708 Less: non-current portion -Hedging instruments for cash flow hedge (fuel swap contracts) 10,358 39,684 -Hedging instruments for cash flow hedge (exchange forward contracts) 17,551 13,641 -Hedging instruments for cash flow hedge (interest rate swap contracts) 160,230 145,590 -Financial instruments at fair value through profit or loss (fuel swap contracts) — 1,493 Total non-current portion 188,139 200,408 Total current portion 106,862 250,300 For the years ended 31 December 2020 and 2019, no material ineffective portion arising from cash flow hedges was recognized in profit or loss. TPG uses foreign currency forward contracts which are designated as hedging instruments in cash flow hedges of purchase in USD. It also uses fuel oil swap contracts to hedge its fuel price risk arising from highly probable forecast purchases of fuel purchases. 13 Derivative financial instruments (continued) TPG uses various interest rate swap contracts to hedge floating semi-annual interest payments on borrowings with maturity dates up to 2020. TPSTMWR also uses various interest rate swap contracts to hedge floating quarterly interest payments on borrowings with maturity dates up to 2044. The notional principal amount of these outstanding interest rate swap contracts at 31 December 2020 was S$142 million (RMB equivalents of RMB700 million) (2019: S$929 million (RMB equivalents of RMB4,086 million)). Through these arrangements, TPG swapped original floating interest (6-month SOR) to annual fixed interest determined by individual swap contracts. Such swap contracts were settled semi-annually from September 2011 to March 2020. TPSTMWR swapped original floating interest (3-month SOR) to annual fixed interest determined by individual swap contracts. Such swap contracts are settled quarterly from September 2019 to June 2044. As at 31 December 2020, the remaining interest rate swap contracts were carried on the consolidated statement of financial position as financial liabilities of RMB181 million (2019: financial liabilities of RMB163 million). There is an economic relationship between the hedged items and the hedging instruments as the terms of the exchange forward contracts, fuel swap contracts and interest rate swap contracts match the terms of the expected highly probable forecast transactions and borrowings (i.e., notional amount and expected payment date). The Group has established a hedge ratio of 1:1 for the hedging relationships as the underlying risk of the exchange forward, fuel swaps and interest rate swaps are identical to the hedged risk components. To test the hedge effectiveness, the Group uses the hypothetical derivative method and compares the changes in the fair value of the hedging instruments against the changes in fair value of the hedged items attributable to the hedged risks. The hedge ineffectiveness can arise from: (a) Differences in the timing of the cash flows of the hedged items and the hedging instruments. (b) Different indexes (and accordingly different curves) linked to the hedged risk of the hedged items and hedging instruments. (c) The counterparties’ credit risk differently impacting the fair value movements of the hedging instruments and hedged items. (d) Changes to the forecasted amount of cash flows of hedged items and hedging instruments. 13 Derivative financial instruments (continued) The analysis of contractual cash inflows/(outflows) of major derivative financial instruments is as follows: Maturity Carrying Contractual Between 1 and amounts cash flows Within 1 year 5 years After 5 years As at 31 December 2020 Derivative financial assets Fuel derivatives used for hedging (net settlement) 184,458 184,458 109,907 74,551 — Forward exchange contracts used for hedging - inflows 304,090 302,424 1,666 — - outflows (303,780) (302,120) (1,660) — 275 310 304 6 — Fuel derivatives that do not qualify as hedges (net settlement) — — — — — Derivative financial liabilities Fuel derivatives used for hedging (net settlement) 45,111 (45,111) (34,753) (10,358) — Forward exchange contracts used for hedging - inflows 1,918,752 1,498,700 420,052 — - outflows (1,986,755) (1,549,515) (437,240) — 68,853 (68,003) (50,815) (17,188) — Net-settled interest rate swaps used for hedging - net cash inflows/(outflows) 181,037 (230,534) (37,564) (69,890) (123,080) Fuel derivatives that do not qualify as hedges (net settlement) — — — — — 13 Derivative financial instruments (continued) The analysis of contractual cash inflows/(outflows) of major derivative financial instruments are as follows (continued): Maturity Carrying Contractual Between 1 and amounts cash flows Within 1 year 5 years After 5 years As at 31 December 2019 Derivative financial assets Fuel derivatives used for hedging (net settlement) 82,367 82,367 67,266 15,101 — Forward exchange contracts used for hedging - inflows 697,057 585,340 111,717 — - outflows (691,081) (581,248) (109,833) — 4,319 5,976 4,092 1,884 — Fuel derivatives that do not qualify as hedges (net settlement) 4,601 4,601 4,601 — — Derivative financial liabilities Fuel derivatives used for hedging (net settlement) 243,045 (243,045) (203,361) (39,684) — Forward exchange contracts used for hedging - inflows 2,702,992 2,042,062 660,930 — - outflows (2,738,635) (2,067,617) (671,018) — 42,082 (35,643) (25,555) (10,088) — Net-settled interest rate swaps used for hedging - net cash inflows/(outflows) 162,594 (188,162) (33,497) (48,412) (106,253) Fuel derivatives that do not qualify as hedges (net settlement) 2,987 (2,987) (1,493) (1,494) — |
Goodwill
Goodwill | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill | |
Goodwill | 14 Goodwill The movements of goodwill during the years are as follows: 2020 2019 Beginning of the year Cost 19,292,497 18,941,078 Accumulated impairment losses (3,357,542) (3,368,851) Net book value 15,934,955 15,572,227 Movements: Business combination (Note 39) 12,615 — Impairment charge for the year (685,036) — Disposal of a subsidiary - cost — (21,723) Disposal of a subsidiary - impairment — 21,723 Currency translation differences - cost (539,577) 373,142 Currency translation differences - impairment 15,059 (10,414) End of the year 14,738,016 15,934,955 Cost 18,765,535 19,292,497 Accumulated impairment losses (4,027,519) (3,357,542) Net book value 14,738,016 15,934,955 Impairment tests for goodwill In the impairment assessment of the Group, goodwill is allocated to groups of cash-generating units (CGUs) that are expected to benefit from the synergies of the business combination and is allocated to the relevant CGUs based on operating areas. The CGUs are consistent with those used on the purchase dates and in the impairment tests in previous years. The carrying amounts of major goodwill and goodwill impaired in 2020 allocated to individual CGUs are as follows: 2020 2019 PRC power segment: Yunhe Power 295,001 700,346 Linyi Power 382,500 541,307 Wuhan Power 518,484 518,484 Liaocheng Co-generation 429,750 495,448 Yantai Power Plant 31,706 62,837 Yichun Thermal Power 24,397 48,453 Overseas segment: Tuas Power 10,666,426 11,190,944 14 Goodwill (continued) Impairment tests for goodwill (continued) The recoverable amount of a CGU is determined based on value-in-use calculations. The cash flow projections of CGUs are based on management’s forecasted cash flows in the next five years. Based on existing production capacity, the domestic subsidiaries of the Company expect cash flows beyond such periods will be similar to that in the 5th year and thus a zero Pre-tax discount rates used for value-in-use calculations: 2020 2019 Yunhe Power 8.98 % 9.22 % Linyi Power 9.00 % 9.23 % Wuhan Power 8.94 % 9.21 % Liaocheng Co-generation 8.90 % 9.18 % Yantai Power Plant 7.85 % 9.19 % Yichun Thermal Power 8.35 % 9.30 % Singapore Tuas Power 8.40 % 7.33 % Key assumptions used for value-in-use calculations: For goodwill of domestic CGUs, the key assumptions applied in the impairment tests include the expected future sales volumes (power generation hours), fuel prices and discount rate. Management determined these assumptions based on past performance and its expectations on market development. The discount rates used reflect specific risks relating to individual CGUs. Based on the impairment assessment, Yunhe Power, Linyi Power, Liaocheng Co-generation, Yantai Power Plant and Yichun Thermal Power recognized RMB405 million (2019: Nil Nil Nil Nil Nil For the goodwill allocated to Singapore Tuas Power, the key assumptions applied in the impairment model include the expected future sales volume, gross margin, terminal growth rate and discount rate. The EMA released its Electricity Market Prospects Report (“EMA 2020 report”) on 30 December 2020, stating that the electricity demand is expected to grow between 2.50% and 3.1% over the next 10 years, taking into account demographic, climate and economic impacts. According to the EMA 2020 report, the compound annual growth rate of the electricity market from 2009 to 2019 was about 2.6%. The market share of Singapore Tuas Power in Singapore has remained stable, with the market share ratios being 21.1%, 20.7% and 19.3% in 2018, 2019 and 2020, respectively. The sales volumes of Singapore Tuas Power from 2021 to 2025 are forecasted based on its past performance, and a terminal growth rate of 2% (2019: 2%) is utilized in the forecast. 14 Goodwill (continued) Key assumptions used for value-in-use calculations (continued): In June 2020, EMA announced an exposure draft about the forward capacity market (FCM), which is planned to be initially implemented in 2021 to meet Singapore’s forecasted power demand, maintain the power safety requirement and at the same time achieve the goal of attracting power incremental investment. With the implementation of the FCM regime, the future forecasted average gross margin of electricity sales will also improve. Singapore Tuas Power adjusted the average gross margin of electricity sales during the forecast period and the terminal period accordingly. Impairment test Impairment test Gross margin of electricity sales: S$/MWh model in 2020 model in 2019 2021 13.5 15.8 2022 15.4 28.5 2023 15.4 33.3 2024 30.1 38.5 2025 54.3 38.5 Terminal period 42.4 38.5 Management used the after-tax discount rate for power generation industry for 2021 and 2022 published by EMA in November 2020 to calculate the pre-tax discount rate used for value-in-use calculations of Tuas Power, which is 8.40% for the year ended 31 December 2020 (2019: 7.33%). According to the impairment assessment, there was no Nil For the goodwill allocated to the CGU in Singapore, management has assessed that one of the most sensitive key assumptions is the pre-tax discount rate which was arrived at based on weighted average cost of capital. An absolute increase in the pre-tax discount rate of 0.5% (31 December 2019: 0.5%) would result in approximately RMB1,691 million (31 December 2019: RMB1,706 million) decrease in the recoverable amount of the CGU. For the goodwill allocated to CGUs in the PRC, management has assessed that two of the most sensitive key assumptions are future sales volume and fuel price. If future sales volume had decreased by 1% or 5% from management’s estimates, while other variables stay constant with the expectations, the Group would have to further recognize impairment against goodwill by approximately RMB279 million and RMB1,723 million (31 December 2019: RMB322 million and RMB2,930 million), respectively. If fuel price had increased by 1% or 5% from management’s estimates, while other variables stay constant with the expectations, the Group would have to further recognize impairment against goodwill by approximately RMB488 million and RMB2,588 million (31 December 2019: RMB170 million and RMB1,829 million), respectively. |
Other non-current assets
Other non-current assets | 12 Months Ended |
Dec. 31, 2020 | |
Other non-current assets | |
Other non-current assets | 15 Other non-current assets Details of other non-current assets are as follows: As at 31 December 2020 2019 Finance lease receivables (i) 9,431,733 10,519,845 VAT recoverable 5,526,256 4,172,871 Prepayments for pre-construction cost (ii) 438,167 788,081 Intangible assets (iii) 643,486 784,594 Prepaid connection fees 33,041 37,484 Contract assets 736,568 642,557 Others 1,728,332 1,659,573 Total 18,537,583 18,605,005 Notes: (i) Ruyi Pakistan Energy entered into a power purchase agreement with CPPA-G to sell all of the electricity produced with a regulated tariff mechanism approved by the National Electric Power Regulatory Authority. In accordance with the power purchase agreement and tariff mechanism, almost all the risks and rewards in relation to the power assets were in substance transferred to CPPA-G and therefore were accounted for as a finance lease to CPPA-G. Please refer to Note 41 for other details of finance lease receivables. (ii) Please refer to Note 7 for details of impairment losses of prepayment for pre-construction cost. (iii) The intangible assets primarily consist of software, patented technologies etc. In 2020, there was no impairment provided for the intangible assets (2019: Nil). |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Inventories | |
Inventories | 16 Inventories Inventories comprised: As at 31 December 2020 2019 Fuel (coal and oil) for power generation 5,327,750 7,304,783 Material and supplies 1,473,355 1,765,827 6,801,105 9,070,610 Less: provision for inventory obsolescence 198,646 187,427 Total 6,602,459 8,883,183 Movements of provision for inventory obsolescence during the years are analyzed as follows: 2020 2019 Beginning of the year (187,427) (430,707) Provision (43,993) (23,507) Reversal 917 1,054 Write off 25,378 272,659 Currency translation differences 6,479 (6,926) End of the year (198,646) (187,427) Note: the amount of losses on scrapped materials and supplies was RMB167,449 thousand (Note 6), with the details as follows: For the year ended 31 December 2020 Huaneng Power International, Inc. Shang’an Power Plant (“Shang’an Power Plant”) (i) 46,598 Huaneng Power International, Inc. Shanghai Shidongkou II Power Plant (“Shidongkou II”) (ii) 29,494 Other 22 items 91,357 Total 167,449 (i) In June and July 2020, the Material supply department , Maintenance department, Fuel department, Engineering department, and Finance department of Shang’an Power Plant respectively carried out an assessment and concluded that due to technical improvement, expiration, deformation and deterioration. 4,665 items with book value of RMB40,112 thousand in total deemed loss need to be fully scrapped, which was formally approved in 2020. (ii) In 2020, the Production department of Shidongkou II carried out 2 batches of quality inspections on material and spare parts with over ten-year age and concluded that due to safety concerns, 4,685 items with a book value of RMB29,494 thousand in total deemed loss needed to be fully scrapped, which was formally approved in 2020. |
Other receivables and assets
Other receivables and assets | 12 Months Ended |
Dec. 31, 2020 | |
Other receivables and assets | |
Other receivables and assets | 17 Other receivables and assets Other receivables and assets comprised the following: As at 31 December 2020 2019 Prepayments for inventories 1,222,785 758,834 Prepaid income tax 133,090 139,617 Others 335,189 266,252 Subtotal of prepayments 1,691,064 1,164,703 Less: Loss allowance 2,638 2,638 Total prepayments, net 1,688,426 1,162,065 Dividends receivable 50,000 — Receivables from sales of fuel 249,852 99,649 Others (Note i) 2,222,593 2,077,156 Subtotal of other receivables 2,522,445 2,176,805 Less: Loss allowance 187,675 52,531 Total other receivables, net 2,334,770 2,124,274 Profit compensation from Huaneng Group — 457,727 VAT recoverable 2,428,315 1,773,396 Finance lease receivables (Note 41) 478,666 483,691 Designated loan to joint ventures 304,306 80,000 Others 138,209 136,610 Subtotal other assets 3,349,496 2,931,424 Less: Loss allowance 64,615 — Total other assets, net 3,284,881 2,931,424 Gross total 7,563,005 6,272,932 Net total 7,308,077 6,217,763 Please refer to Note 35 for details of other receivables and assets due from the related parties. The Group does not hold any collateral or other credit enhancements over its other receivables. The other receivables are non-interest-bearing. 17 Other receivables and assets (continued) The gross amounts of other receivables are denominated in the following currencies: As at 31 December 2020 2019 RMB 1,945,945 1,943,568 S$(RMB equivalent) 102,484 86,422 US$(RMB equivalent) 16,585 11,898 PKR (RMB equivalent) 457,431 134,917 Total 2,522,445 2,176,805 Movements of loss allowance during the years are analyzed as follows: 2020 2019 Beginning of the year (55,169) (43,169) Provision (148,976) (25,578) Reversal 18 2,300 Write-off 3,559 11,278 Others (62,772) — Currency translation differences 8,412 — End of the year (254,928) (55,169) Note i: Included in others, there were advances amounting to RMB 222 million as at 31 December 2020 (31 December 2019: RMB 232 million) which were due from Huangtai #8 Power Plant with indefinite repayment terms. For the year ended 31 December 2020, Huangtai Power, a subsidiary of the Company, received total repayments amounting to RMB 10 million (for the year ended 31 December 2019: RMB 41 million). According to the property right transfer agreement signed in December 2008 between Shandong Power and Shandong Luneng Development Group (“Shandong Luneng”) and the corresponding approval from the State-owned Assets Supervision and Administration Commission of the State Council in February 2009 (“State-owned Assets Right [2009] No.70”), Shandong Power acquired 30% of property right of Huangtai #8 Power Plant from Shandong Luneng at a cash consideration of RMB110 million. Huangtai #8 Power Plant is not a legal entity under PRC Company Law, though it has separate accounting books, and therefore the Group recognized the 30% property right as other non-current assets. Huangtai Power is in charge of daily operations of Huangtai #8 Power Plant on behalf of two property owners. |
Accounts and notes receivable
Accounts and notes receivable | 12 Months Ended |
Dec. 31, 2020 | |
Accounts and notes receivable | |
Accounts and notes receivable | 18 Accounts and notes receivable Accounts and notes receivable comprised the following: As at 31 December 2020 2019 Accounts receivable 30,045,678 26,911,837 Notes receivable 8,325,966 5,552,422 38,371,644 32,464,259 Less: Loss allowance 155,929 195,320 Total 38,215,715 32,268,939 Analysed into: Accounts receivable - At amortized cost 28,789,790 25,547,258 - At fair value through other comprehensive income 1,255,888 1,364,579 Notes receivable - At amortized cost 8,325,966 5,552,422 In 2020, the Group entered into an accounts receivable factoring arrangement (the “Factoring Arrangement”) and transferred certain accounts receivable, with the carrying amount of RMB 200 million, to the banks. Under the Factoring Arrangement, the Group is not exposed to default risks of the accounts receivable after the transfer. Subsequent to the transfer, the Group did not retain any rights on the use of the accounts receivable, including the sale, transfer or pledge of the accounts receivable to any other third parties. The original carrying value in aggregate of the accounts receivable transferred and derecognized under the arrangement that have not been settled as at 31 December 2020 was RMB 200 million (2019: RMB 150 million). In December 2019 and November 2020, the Group’s subsidiary, Shandong Power, entered into agreements of a single assets management plans (the “Assets Management Plans”) with Yingda Securities Co., Ltd. Under the Assets Management Plans, the Group is not exposed to default risks of the accounts receivable after the transfer. Subsequent to the transfer, the Group did not retain any rights on the use of the accounts receivable, including the sale, transfer or pledge of the accounts receivable to any other third parties. The original carrying value in aggregate of the accounts receivable transferred and derecognized under the arrangement that have not been settled as at 31 December 2020 was RMB1,220 million (2019: RMB1,000 million). The December 2019 Assets Management Plan expired in December 2020. During the year ended 31 December 2020, the Group recognized RMB41,482 thousand loss on the date of transfer of the accounts receivable (2019: RMB10,528 thousand). 18 Accounts and notes receivable (continued) The gross amounts of accounts receivable and notes receivable are denominated in the following currencies: As at 31 December 2020 2019 RMB 35,113,954 29,382,384 S$(RMB equivalent) 996,686 1,077,008 US$(RMB equivalent) 21,640 39,146 PKR (RMB equivalent) 2,239,364 1,965,721 Total 38,371,644 32,464,259 The Group usually grants credit periods of about one month to domestic local power grid customers from the end of the month in which the sales are made As at 31 December 2020, no accounts receivable was pledged to banks as collateral for loans (2019: Nil). The Group, except for Singapore subsidiaries, does not hold any collateral or other credit enhancements over its accounts receivable. The accounts receivable are non-interest-bearing. For the collateral of notes receivable, please refer to Note 26 for details. Movements of loss allowance during the years are analyzed as follows: 2020 2019 Beginning of the year (195,320) (146,913) Provision (24,105) (64,838) Reversal 441 16,596 Write-off 20 — Others 62,772 — Currency translation differences 263 (165) End of the year (155,929) (195,320) 18 Accounts and notes receivable (continued) Ageing analysis of accounts receivable and notes receivable based on the invoice date was as follows: As at 31 December 2020 2019 Within 1 year 37,966,985 31,566,008 Between 1 to 2 years 174,604 696,401 Between 2 to 3 years 86,388 57,667 Over 3 years 143,667 144,183 Total 38,371,644 32,464,259 18 Accounts and notes receivable (continued) As at 31 December 2020, the maturity period of the notes receivable ranged from 1 to 12 months (2019: from 1 to 12 months). |
Share capital
Share capital | 12 Months Ended |
Dec. 31, 2020 | |
Share capital | |
Share capital | 19 Share capital 2020 2019 Number of shares Share capital Number of shares Share capital RMB ’000 RMB ’000 As at 1 January A shares 10,997,709,919 10,997,710 10,997,709,919 10,997,710 Overseas listed foreign shares 4,700,383,440 4,700,383 4,700,383,440 4,700,383 Subtotal 15,698,093,359 15,698,093 15,698,093,359 15,698,093 Issuance of new A shares — — — — As at 31 December A shares 10,997,709,919 10,997,710 10,997,709,919 10,997,710 Overseas listed foreign shares 4,700,383,440 4,700,383 4,700,383,440 4,700,383 Total 15,698,093,359 15,698,093 15,698,093,359 15,698,093 |
Other equity instruments
Other equity instruments | 12 Months Ended |
Dec. 31, 2020 | |
Other equity instruments | |
Other equity instruments | 20 Other equity instruments (a) Other equity instruments as at 31 December 2020 Initial Type of Issuance Distribution Conversion Conversion Instruments Date Category Rate Issue Price Number Par Value Initial Period Condition Result RMB ’000 RMB ’000 Bond B September 2017 Equity Instrument 5.17 % 0.1 25,000,000 2,500,000 5 years None None Yingda Insurance Financing Plan (1st) September 2018 Equity Instrument 5.79 % — — 3,283,000 8 years None None Yingda Insurance Financing Plan (2nd) September 2018 Equity Instrument 5.79 % — — 827,000 8 years None None Yingda Insurance Financing Plan (3rd) September 2018 Equity Instrument 5.79 % — — 890,000 8 years None None China Life Financing Plan (1st) September 2019 Equity Instrument 5.05 % — — 2,070,000 8 years None None PICC Financing Plan (1st) September 2019 Equity Instrument 5.10 % — — 930,000 10 years None None 2019 medium-term notes (2nd) October 2019 Equity Instrument 4.08 % 0.1 20,000,000 2,000,000 3 years None None 2019 medium-term notes (3rd) October 2019 Equity Instrument 4.05 % 0.1 20,000,000 2,000,000 3 years None None China Life Financing Plan (2nd) October 2019 Equity Instrument 5.05 % — — 2,260,000 8 years None None PICC Financing Plan (2nd) October 2019 Equity Instrument 5.10 % — — 1,740,000 10 years None None 2019 medium-term notes (4th) November 2019 Equity Instrument 4.15 % 0.1 25,000,000 2,500,000 3 years None None 2019 medium-term notes (4th) November 2019 Equity Instrument 4.53 % 0.1 15,000,000 1,500,000 5 years None None Bond C March 2020 Equity Instrument 3.58 % 0.1 20,000,000 2,000,000 3 years None None Bond D March 2020 Equity Instrument 3.85 % 0.1 10,000,000 1,000,000 5 years None None 2020 medium-term notes (1st) April 2020 Equity Instrument 3.18 % 0.1 30,000,000 3,000,000 3 years None None China Life Financing Plan (3rd) April 2020 Equity Instrument 4.75 % - - 3,570,000 8 years None None PICC Financing Plan (3rd) April 2020 Equity Instrument 4.75 % - - 930,000 10 years None None Bond E April 2020 Equity Instrument 3.09 % 0.1 25,000,000 2,500,000 3 years None None 2020 medium-term notes (2nd) June 2020 Equity Instrument 3.60 % 0.1 35,000,000 3,500,000 3 years None None 2020 medium-term notes (3rd) August 2020 Equity Instrument 3.99 % 0.1 20,000,000 2,000,000 3 years None None PICC Financing Plan (4th) August 2020 Equity Instrument 4.60 % - - 3,000,000 10 years None None Bond F September 2020 Equity Instrument 4.38 % 0.1 30,000,000 3,000,000 3 years None None 2020 medium-term notes (4th) September 2020 Equity Instrument 4.40 % 0.1 10,000,000 1,000,000 3 years None None Total 48,000,000 (b) Major provisions In 2017, the Company issued two tranches of perpetual corporate bonds with the net proceeds of approximately RMB2,500 million and RMB2,500 million, respectively. The perpetual corporate bonds are issued at par value with an initial distribution rate of 5.05% and 5.17%. The interests of the perpetual corporate bonds are recorded as distributions, which are paid annually in arrears in September in each year and may be deferred at the discretion of the Company unless compulsory distribution payment events (e.g. distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The perpetual corporate bonds have no fixed maturity date and are callable at the Company’s discretion in whole in August 2020 and 2022 20 Other equity instruments (b) Major provisions (continued) In 2018, the Company issued three tranches of Yingda Insurance Financing Plan (the “Yingda plan”) with the aggregate proceeds of RMB5,000 million. The Yingda plan has no fixed period with initial distribution rate of 5.79%. The interests of the financing plan are recorded as distributions, which are paid annually in arrears in June and December in each year and may be deferred at the discretion of the Company unless compulsory payment events (e.g. distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The Yingda plan has no fixed maturity date and are callable at the Company’s discretion in whole at each distribution date after the 8th year of issuance, or the payment of the principal may be deferred at each distribution date aforementioned. The applicable distribution rate will be reset during the period from the 9th to the 11th year after the issuance, the period from the 11th to the 13th year after the issuance and the 13th year onwards after the issuance, to the higher of the initial distribution rate plus 300 basis points and the 10-year treasury bond yield in the 9th year after the issuance plus 600 basis points, the higher of the initial distribution rate plus 600 basis points and the 10-year treasury bond yield in the 11th year after the issuance plus 900 basis points and the higher of the initial distribution rate plus 900 basis points and the 10-year treasury bond yield in the 13th year after the issuance plus 1,200 basis points, respectively. In 2019, the Company issued two tranches of China Life Financing Plan (the “China Life plan”) with the aggregate proceeds of RMB4,330 million. The China Life plan has no fixed period with an initial distribution rate of 5.05%. The interests of the China Life plan are recorded as distributions, which are paid annually in arrears in March, June, September and December in each year and may be deferred at the discretion of the Company unless compulsory payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The China Life plan has no fixed maturity date and are callable at the Company’s discretion in whole at each distribution date after the 8th year of issuance, or the payment of the principal may be deferred at each distribution date aforementioned. The applicable distribution rate will be reset during the period from the 9th year after the issuance, to the basis rate plus 300 basis points, and will remain 8.05% afterwards. 20 Other equity instruments (continued) (b) Major provisions (continued) In 2019, the Company issued two tranches of PICC Financing Plan (“the PICC plan”) with the aggregate proceeds of RMB2,670 million. The PICC plan has no fixed period with an initial distribution rate of 5.10%. The interests of the PICC plan are recorded as distributions, which are paid annually in arrears in March, June, September and December in each year and may be deferred at the discretion of the Company unless compulsory payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The PICC plan has no fixed maturity date and are callable at the Company’s discretion in whole at each distribution date after 10th year of issuance, or the payment of the principal may be deferred at each distribution date aforementioned. The applicable distribution rate will be reset during the period from the 11th year after the issuance, to the basis rate plus 300 basis points, and will remain 8.10% afterwards. In October 2019, the Company issued two tranches of medium-term notes with the net proceeds of approximate RMB2,000 million and RMB2,000 million, respectively. The medium-term notes are issued at par value with initial distribution rate of 4.08% and 4.05%. The interests of the medium-term notes are recorded as distributions, which are paid annually in arrears in October in each year and may be deferred at the discretion of the Company unless compulsory distribution payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The medium-term notes have no fixed maturity date period In November 2019, the Company issued two tranches of medium-term notes with the net proceeds of approximately RMB2,500 million and RMB1,500 million. The medium-term notes are issued at par value with initial distribution rates of 4.15% and 4.53%, respectively. The interests of the medium-term notes are recorded as distributions, which are paid annually in arrears in November in each year and may be deferred at the discretion of the Company unless compulsory distribution payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occurred. The company has the right to defer current interests and all deferred interests. The medium-term notes have no fixed maturity date and are callable at the Company’s discretion at specific time, and the payment of the principal may be deferred for each renewal period to 3 In March 2020, the Company issued two tranches of perpetual corporate bonds with the net proceeds of approximately RMB2,000 million and RMB1,000 million, respectively. The perpetual corporate bonds are issued at par value with an initial distribution rate of 3.58%and 3.85%. The interests of the perpetual corporate bonds are recorded as distributions, which are paid annually in arrears in March in each year and may be deferred at the discretion of the Company unless compulsory distribution payment events (e.g. distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The perpetual corporate bonds have no fixed maturity date and are callable at the Company’s discretion in whole in February 2023 and 2025 3 20 Other equity instruments (continued) (b) Major provisions (continued) In April 2020, the Company issued medium-term notes with the net proceeds of approximately RMB3,000 million. The medium-term notes are issued at par value with an initial distribution rate of 3.18%. The interests of the medium-term notes are recorded as distributions, which are paid annually in arrears in April in each year and may be deferred at the discretion of the Company unless compulsory distribution payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The medium-term notes have no fixed maturity date and are callable at the Company’s discretion at specific time, and the payment of the principal may be deferred for each renewal period to 3 years. The applicable distribution rate will be reset on the first call date and for each renewal period after the first call date, to the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum. In April 2020, the Company issued China Life Financing Plan (“the China Life plan”) with the proceeds of RMB3,570 million. The China Life plan has no fixed period with an initial distribution rate of 4.75%. The interests of the China Life plan are recorded as distributions, which are paid annually in arrears in March, June, September and December in each year and may be deferred at the discretion of the Company unless compulsory payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The China Life plan has no fixed maturity date and are callable at the Company’s discretion in whole at each distribution date after the 8th year of issuance, or the payment of the principal may be deferred at each distribution date aforementioned. The applicable distribution rate will be reset during the period from the 9th year after the issuance, to the basis rate plus 300 basis points, and will remain 7.75% afterwards. In April 2020, the Company issued the third tranche of the PICC plan with the proceeds of RMB930 million. The PICC plan has no fixed period with an initial distribution rate of 4.75%. The interests of the PICC plan are recorded as distributions, which are paid annually in arrears in March, June, September and December in each year and may be deferred at the discretion of the Company unless compulsory payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The PICC plan has no fixed maturity date and are callable at the Company’s discretion in whole at each distribution date after the 10th year of issuance, or the payment of the principal may be deferred at each distribution date aforementioned. The applicable distribution rate will be reset during the period from the 11th year after the issuance, to the basis rate plus 300 basis points, and will remain 7.75% afterwards. In April 2020, the Company issued a perpetual corporate bond with the net proceeds of approximately RMB2,500 million. The perpetual corporate bond is issued at par value with an initial distribution rate of 3.09%. The interests of the perpetual corporate bond are recorded as distributions, which are paid annually in arrears in April in each year and may be deferred at the discretion of the Company unless compulsory distribution payment events (e.g. distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The perpetual corporate bond has no fixed maturity date and is callable at the Company’s discretion in whole in March 2023, or the payment of the principal may be deferred for each renewal period to 3 years. The applicable distribution rate will be reset on the first call date and for each renewal period after the first call date, to the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum. 20 Other equity instruments (continued) (b) Major provisions (continued) In June 2020, the Company issued medium-term notes with the net proceeds of approximately RMB3,500 million. The medium-term notes are issued at par value with an initial distribution rate of 3.60%. The interests of the medium-term notes are recorded as distributions, which are paid annually in arrears in June in each year and may be deferred at the discretion of the Company unless compulsory distribution payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The medium-term notes have no fixed maturity date and are callable at the Company’s discretion at specific time, and the payment of the principal may be deferred for each renewal period to 3 years. The applicable distribution rate will be reset on the first call date and for each renewal period after the first call date, to the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum. In August 2020 and September 2020, the Company issued two tranches of medium-term notes with the net proceeds of approximately RMB2,000 million and RMB1,000 million, respectively. The medium-term notes are issued at par value with initial distribution rates of 3.99% and 4.40%. The interests of the medium-term notes are recorded as distributions, which are paid annually in arrears in August and September in each year and may be deferred at the discretion of the Company unless compulsory distribution payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occurred. The company has the right to defer current interests and all deferred interests. The medium-term notes have no fixed maturity date and are callable at the Company’s discretion at specific time, and the payment of the principal may be deferred for each renewal period In August 2020, the Company issued the fourth tranche of the PICC plan with the proceeds of RMB3,000 million. The PICC plan has no fixed period with an initial distribution rate of 4.60%. The interests of the PICC plan are recorded as distributions, which are paid annually in arrears in March, June, September and December in each year and may be deferred at the discretion of the Company unless compulsory payment events (distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The PICC plan has no fixed maturity date and are callable at the Company’s discretion in whole at each distribution date after the 10th year of issuance, or the payment of the principal may be deferred at each distribution date aforementioned. The applicable distribution rate will be reset during the period from the 11th year after the issuance, to the basis rate plus 300 basis points, and will remain 7.60% afterwards. In September 2020, the Company issued a perpetual corporate bond with the net proceeds of approximately RMB3,000 million. The perpetual corporate bond is issued at par value with an initial distribution rate of 4.38%. The interests of the perpetual corporate bond are recorded as distributions, which are paid annually in arrears in September in each year and may be deferred at the discretion of the Company unless compulsory distribution payment events (e.g. distributions to ordinary shareholders of the Company or reduction of the registered capital of the Company) occur. The company has the right to defer current interests and all deferred interests. The perpetual corporate bond has no fixed maturity date and is callable at the Company’s discretion in whole in August 2023, and the payment of the principal may be deferred for each renewal period to 3 years. The applicable distribution rate will be reset on the first call date and for each renewal period after the first call date, to the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum. 20 Other equity instruments (continued) (b) Major provisions (continued) The perpetual corporate bonds, financing plans and medium-term notes were recorded as equity in the consolidated financial statements. During the year ended 31 December 2020, the profit attributable to holders of other equity instruments, based on the applicable distribution rate, was RMB1,770 million (2019: 686 million). (c) Changes of other equity instruments during 2020 As at 1 January 2020 Issuance Cumulative distributions As at 31 December 2020 Type of Instruments Accrued Distribution Redemption Redemption Number Amount Number Amount distribution payment value difference Number Amount RMB ’000 RMB ’000 RMB ’000 RMB ’000 RMB ’000 RMB ’000 RMB ’000 Bond A 25,000,000 2,533,780 — (131) 92,445 (126,250) (2,500,000) 156 — — Bond B 25,000,000 2,534,583 — — 129,345 (129,250) — — 25,000,000 2,534,678 Yingda Insurance Financing Plan (1st) — 3,288,808 — — 193,254 (193,254) — — — 3,288,808 Yingda Insurance Financing Plan (2nd) — 828,463 — — 48,681 (48,681) — — — 828,463 Yingda Insurance Financing Plan (3rd) — 891,575 — — 52,390 (52,390) — — — 891,575 China Life Financing Plan (1st) — 2,073,484 — — 106,277 (106,277) — — — 2,073,484 PICC Financing Plan (1st) — 930,922 — — 48,221 (48,221) — — — 930,922 2019 medium-term notes (2nd) 20,000,000 2,011,533 — — 81,646 (81,600) — — 20,000,000 2,011,579 2019 medium-term notes (3rd) 20,000,000 2,011,271 — — 81,041 (81,000) — — 20,000,000 2,011,312 China Life Financing Plan (2nd) — 2,263,804 — — 116,032 (116,032) — — — 2,263,804 PICC Financing Plan (2nd) — 1,741,726 — — 90,219 (90,219) — — — 1,741,726 2019 medium-term notes (4th) 25,000,000 2,511,441 — — 103,794 (103,750) — — 25,000,000 2,511,485 2019 medium-term notes (4th) 15,000,000 1,506,431 — — 67,979 (67,950) — — 15,000,000 1,506,460 Bond C — — 20,000,000 1,999,980 55,711 — — — 20,000,000 2,055,691 Bond D — — 10,000,000 999,990 29,956 — — — 10,000,000 1,029,946 2020 medium-term notes (1st) — — 30,000,000 2,981,135 68,741 — — — 30,000,000 3,049,876 China Life Financing Plan (3rd) — — - 3,570,000 120,587 (114,934) — — — 3,575,653 PICC Financing Plan (3rd) — — - 930,000 31,168 (30,309) — — — 930,859 Bond E — — 25,000,000 2,499,975 53,546 — — — 25,000,000 2,553,521 2020 medium-term notes (2nd) — — 35,000,000 3,484,124 67,660 — — — 35,000,000 3,551,784 2020 medium-term notes (3rd) — — 20,000,000 1,995,313 29,515 — — — 20,000,000 2,024,828 PICC Financing Plan (4th) — — - 3,000,000 48,683 (46,000) — — — 3,002,683 Bond F — — 30,000,000 2,999,970 40,680 — — — 30,000,000 3,040,650 2020 medium-term notes (4th) — — 10,000,000 997,094 12,898 — — — 10,000,000 1,009,992 Total 25,127,821 25,457,450 1,770,469 (1,436,117) (2,500,000) 156 48,419,779 |
Surplus reserves
Surplus reserves | 12 Months Ended |
Dec. 31, 2020 | |
Surplus reserves | |
Surplus reserves | 21 Surplus reserves As at 1 January 2020 and 31 December 2020 Surplus reserves 8,140,030 According to the Company Law of the PRC, the Company’s articles of association and board resolutions, the Company appropriates 10% of each year’s net profit under PRC GAAP to the statutory surplus reserve. The Company has the option to cease provision for such reserve when it reaches 50% of the registered share capital. Upon the approval from the relevant authorities, this reserve can be used to make up any losses incurred or to increase share capital. Except for offsetting against losses, this reserve cannot fall below 25% of the registered share after being used to increase share capital. As the statutory surplus reserve reaches 50% of the registered share capital in 2020, the Company made no provision for the current year. Appropriation of discretionary surplus reserve is proposed by the Board of Directors, and approved by the general meeting of shareholders. This reserve can be used to make up any losses incurred in prior years or to increase the share capital after obtaining relevant approvals. For the years ended 31 December 2020 and 2019, no provision was made to the discretionary surplus reserve. According to the articles of association, in distributing the Company’s profits after tax for the relevant accounting year, the lower of amounts determined in accordance with PRC GAAP and IFRSs shall be adopted. As at 31 December 2020, in accordance with PRC GAAP and IFRSs, the balance of retained earnings for the Group amounted to approximately RMB31.248 billion and RMB32.164 billion, respectively; and the balance of retained earnings for the Company amounted RMB35.911 billion and RMB32.089 billion, respectively. |
Dividends of ordinary shares an
Dividends of ordinary shares and cumulative distribution of other equity instruments | 12 Months Ended |
Dec. 31, 2020 | |
Dividends of ordinary shares and cumulative distribution of other equity instruments | |
Dividends of ordinary shares and cumulative distribution of other equity instruments | 22 Dividends of ordinary shares and cumulative distribution of other equity instruments (a) Dividends of ordinary shares On 16 June 2020, upon the approval from the annual general meeting of the shareholders, the Company declared 2019 final dividend of RMB0.135 (2018: RMB0.1) per ordinary share, totaling approximately RMB2,119 million (2018: RMB1,570 million). On 23 March 2021, the Board of Directors proposed a cash dividend of RMB0.18 per share, totaling approximately RMB2,826 million. This proposal is subject to the approval of the shareholders at the annual general meeting. (b) Cumulative distribution of other equity instruments The other equity instruments were recorded as equity in the consolidated financial statements. For the year ended 31 December 2020, net profit attributable to holders of other equity instruments, based on the applicable rate, was RMB1,770 million, and the cumulative distribution paid-in 2020 was RMB1,436 million. |
Long-term loans
Long-term loans | 12 Months Ended |
Dec. 31, 2020 | |
Long-term loans | |
Long-term loans | 23 Long-term loans Long-term loans comprised the following: As at 31 December 2020 2019 Loans from Huaneng Group and its subsidiaries (a) 7,031,664 5,403,574 Bank loans and other loans (b) 124,854,044 128,619,138 131,885,708 134,022,712 Less: Current portion of long-term loans 19,808,313 18,658,114 Total 112,077,395 115,364,598 23 Long-term loans (continued) (a) Loans from Huaneng Group and its subsidiaries Details of loans from Huaneng Group and its subsidiaries are as follows: As at 31 December 2020 Original RMB Less: Current Non-current Annual currency equivalent portion portion interest rate ’000 Loans from Huaneng Group Unsecured RMB - Variable rate 666,190 666,190 24,530 641,660 4.75 % Loans from Huaneng Finance Unsecured RMB - Variable rate 4,281,432 4,281,432 468,800 3,812,632 3.67%-4.80 % - Fixed rate 317,515 317,515 26,200 291,315 4.02%-4.75 % Loans from Huaneng Tiancheng Financial Leasing Co., Ltd. (“Tiancheng Financial Leasing”) Secured RMB - Variable rate 633,258 633,258 100,040 533,218 4.42%-5.20 % - Fixed rate 89,060 89,060 — 89,060 5.10 % Loans from Hong Kong Asset Management Co., Ltd. (“Hong Kong Asset Management”) Unsecured US$ - Variable rate 160,035 1,044,209 — 1,044,209 2.30 % Total 7,031,664 619,570 6,412,094 23 Long-term loans (continued) (a) Loans from Huaneng Group and its subsidiaries (continued) As at 31 December 2019 Original RMB Less: Current Non-current Annual currency equivalent portion portion interest rate ’000 Loans from Huaneng Group Unsecured RMB - Variable rate 665,225 665,225 — 665,225 4.75 % Loans from Huaneng Finance Unsecured RMB - Variable rate 3,808,800 3,808,800 413,200 3,395,600 4.28%-4.75 % - Fixed rate 28,000 28,000 — 28,000 4.51%-4.61 % Loans from Tiancheng Financial Leasing Secured RMB - Variable rate 580,891 580,891 246,549 334,342 4.42%-5.20 % - Fixed rate 320,658 320,658 150,000 170,658 5.10%-6.60 % Total 5,403,574 809,749 4,593,825 23 Long-term loans (continued) (b) Bank loans and other loans Details of bank loans and other loans are as follows: As at 31 December 2020 Original Less: Current Non-current Annual currency RMB equivalent portion portion interest rate ’000 Secured RMB - Fixed rate 302,677 302,677 — 302,677 4.66% - Variable rate 9,136,041 9,136,041 1,242,992 7,893,049 4.10%-4.98% S$ - Variable rate 120,999 596,693 14,119 582,574 1.42% Unsecured RMB - Fixed rate 2,805,767 2,805,767 316,715 2,489,052 4.02%-5.39% - Variable rate 96,118,275 96,118,275 16,355,517 79,762,758 1.80%-6.55% US$ - Variable rate 1,319,503 8,609,627 1,217,769 7,391,858 1.42%-4.73% S$ - Variable rate 1,430,286 7,053,310 — 7,053,310 1.85% € - Fixed rate 11,004 88,322 34,654 53,668 2.00%-2.15% JPY - Fixed rate 2,266,468 143,332 6,977 136,355 0.75% Total 124,854,044 19,188,743 105,665,301 23 Long-term loans (continued) (b) Bank loans and other loans (continued) As at 31 December 2019 Original Less: Current Non-current Annual currency RMB equivalent portion portion interest rate ’000 Secured RMB - Fixed rate 5,032,030 5,032,030 1,262,520 3,769,510 4.41%-4.90% - Variable rate 4,528,406 4,528,406 521,689 4,006,717 4.28%-4.90% S$ - Variable rate 79,371 410,658 — 410,658 2.93% Unsecured RMB - Fixed rate 7,477,712 7,477,712 1,803,335 5,674,377 2.65%-5.39% - Variable rate 88,504,897 88,504,897 12,691,426 75,813,471 1.80%-6.55% US$ - Variable rate 1,430,672 9,974,968 1,095,931 8,879,037 2.90%-6.82% S$ - Variable rate 2,400,063 12,417,684 431,622 11,986,062 3.33% € - Fixed rate 15,451 120,760 34,772 85,988 2.00%-2.15% JPY - Fixed rate 2,372,009 152,023 7,070 144,953 0.75% Total 128,619,138 17,848,365 110,770,773 As at 31 December 2020, long-term loans of approximately RMB7,435 million were secured by future electricity revenue (31 December 2019: RMB7,287 million). As at 31 December 2020, long-term loans of RMB3,322 million (31 December 2019: RMB3,586 million) were secured by certain property, plant and equipment with a net book value amounting to approximately RMB3,400 million (31 December 2019: RMB4,913 million). Certain subsidiaries of the Group had sales and leaseback agreements with Tiancheng Financial Leasing and other financial leasing companies. According to the agreements, these subsidiaries have an option to buy back the equipment at a nominal price (RMB1) when the lease term expires. The substance of the transaction was to obtain financing secured by the relevant assets within the leasing period. As at 31 December 2020, the equipment mentioned above had total carrying amounts of RMB1,036 million and RMB2,364 million (31 December 2019: RMB1,955 million and RMB2,958 million) respectively, which were recognized in property, plant and equipment while the long-term borrowings were RMB722 million and RMB2,600 million (31 December 2019: RMB902 million and RMB2,684 million) from Tiancheng Financial Leasing and other financial leasing companies, respectively. 23 Long-term loans (continued) (b) Bank loans and other loans (continued) As at 31 December 2019, long-term loans of approximately RMB15 million were guaranteed by HIPDC. As at 31 December 2020, the aforementioned loans were fully repaid. As at 31 December 2020, long-term loans of approximately RMB81 million (31 December 2019: RMB110 million) were guaranteed by Huaneng Group. As at 31 December 2020, the Company provided guarantees for long-term loans of approximately RMB7,053 million (31 December 2019: RMB12,418 million) of the Company’s overseas subsidiaries. As at 31 December 2020, long-term loans of approximately RMB1,731 million (31 December 2019: RMB1,972 million) were guaranteed by other subsidiaries of the Company and Yangguang Jiedi Investment Co., Ltd, of which the loans guaranteed by Yangguang Jiedi Investment Co., Ltd were RMB67 million (31 December 2019: RMB75 million). As at 31 December 2020, long-term loans of approximately RMB50 million (31 December 2019: RMB100 million) were guaranteed by Shandong Lineng Group Co., Ltd. As at 31 December 2020, long-term loans of approximately RMB143 million (31 December 2019: RMB152 million) were guaranteed by Enshi Finance Bureau of Hubei Province. As at 31 December 2020, long-term loans of approximately RMB7,581 million (31 December 2019: RMB8,435 million) were guaranteed by Huaneng Group, China Export & Credit Insurance Corporation and Shandong Ruyi Technology Group at the liability ratios of 17.5%, 65.0% and 17.5% respectively. As at 31 December 2020, long-term loans of approximately RMB1,044 million (31 December 2019: Nil) were guaranteed by Shandong Power and Shandong Ruyi Technology Group at the liability ratios of 50% and 50% respectively. The maturity of long-term loans is as follows: Loans from Huaneng Group Bank loans and its subsidiaries and other loans As at 31 December As at 31 December 2020 2019 2020 2019 1 year or less 619,570 809,749 19,188,743 17,848,365 More than 1 year but no more than 2 years 826,059 1,320,611 13,718,115 28,426,578 More than 2 years but no more than 5 years 2,799,377 1,583,453 45,708,377 48,138,639 More than 5 years 2,786,658 1,689,761 46,238,809 34,205,556 7,031,664 5,403,574 124,854,044 128,619,138 Less: amount due within 1 year included under current liabilities 619,570 809,749 19,188,743 17,848,365 Total 6,412,094 4,593,825 105,665,301 110,770,773 |
Long-term bonds
Long-term bonds | 12 Months Ended |
Dec. 31, 2020 | |
Long-term bonds | |
Long-term bonds | 24 Long-term bonds Outstanding corporate bonds, medium-term notes and debt financing instrument of the Group as at 31 December 2020 are summarized as follows: Balance as at Foreign Foreign Balance as at Initial 31 December Issued Exchange Currency Interest 31 December Face Value Issuance Distribution Issue Price 2019 Amount Amortization Interest Repayment Gain Differences Payable 2020 Type of Instruments RMB’000 Date Initial Period Rate Effective Rate RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 2016 corporate bonds (5 years) 3,000,000 June 2016 5 years 3.48 % 3.48 % 3,000,000 3,000,072 — 62 104,400 — — — 57,778 3,057,912 2016 corporate bonds (10 years) 1,200,000 June 2016 10 years 3.98 % 3.98 % 1,200,000 1,199,985 — 12 47,760 — — — 26,432 1,226,429 2017 medium-term notes (5 years) 5,000,000 July 2017 5 years 4.69 % 4.90 % 5,000,000 5,001,878 — 965 234,500 — — — 111,146 5,113,989 2017 debt financing instrument (3 years) 500,000 July 2017 3 years 4.75 % 4.81 % 500,000 499,846 — 154 23,750 (500,000) — — — — 2017 corporate bonds (3 years) 2,300,000 November 2017 3 years 4.99 % 4.99 % 2,300,000 2,299,962 — 38 114,770 (2,300,000) — — — — 2018 corporate bonds (3 years) 1,500,000 April 2018 3 years 4.90 % 4.90 % 1,500,000 1,500,040 — 30 73,500 — — — 54,773 1,554,843 2018 medium-term notes (3 years) 3,000,000 May 2018 3 years 4.80 % 4.91 % 3,000,000 2,996,069 — 2,953 144,000 — — — 96,263 3,095,285 2018 medium-term notes (3 years) 2,000,000 July 2018 3 years 4.41 % 4.56 % 2,000,000 2,001,342 — 9 88,200 — — — 42,046 2,043,397 2018 debt financing instrument (3 years) 2,500,000 July 2018 3 years 4.68 % 4.81 % 2,500,000 2,495,547 — 2,929 117,000 — — — 50,967 2,549,443 2018 corporate bonds (10 years) 5,000,000 September 2018 10 years 5.05 % 5.05 % 5,000,000 4,999,993 — 30 252,500 — — — 78,171 5,078,194 2019 corporate bonds (10 years) 2,300,000 April 2019 10 years 4.70 % 4.70 % 2,300,000 2,299,990 — 14 108,100 — — — 74,930 2,374,934 2019 corporate bonds (3 years) 1,000,000 July 2019 3 years 3.55 % 3.55 % 1,000,000 1,000,007 — 17 35,500 — — — 17,118 1,017,142 2019 medium-term notes (3 years) 500,000 July 2019 3 years 3.55 % 3.65 % 500,000 498,759 — 488 17,750 — — — 8,073 507,320 2019 medium-term notes (5 years) 1,500,000 July 2019 5 years 3.85 % 3.96 % 1,500,000 1,493,433 — 1,445 57,750 — — — 26,264 1,521,142 2020 corporate bonds (5 years) 2,108,865 February 2020 5 years 2.25 % 2.32 % 2,108,865 — 2,108,865 (9,456) 40,838 — (23,160) (129,468) 16,383 1,963,164 2020 corporate bonds (10 years) 2,108,865 February 2020 10 years 2.63 % 2.72 % 2,108,865 — 2,108,865 (17,629) 47,644 — (23,160) (129,468) 19,114 1,957,722 Total 35,517,730 31,286,923 4,217,730 (17,939) 1,507,962 (2,800,000) (46,320) (258,936) 679,458 33,060,916 Outstanding corporate bonds, medium-term notes and debt financing instrument of the Group as at 31 December 2019 are summarized as follows: Balance as at Balance as at Initial 31 December Issued 31 December Face Value Issuance Distribution Issue Price 2018 Amount Interest Amortization Repayment 2019 Type of Instruments RMB’000 Date Initial Period Rate Effective Rate RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 2014 medium-term notes (5 years) 4,000,000 July 2014 5 years 5.30 % 5.37 % 4,000,000 3,993,479 — 112,679 6,521 (4,000,000) — 2016 corporate bonds (5 years) 3,000,000 June 2016 5 years 3.48 % 3.48 % 3,000,000 3,000,010 — 104,400 62 — 3,000,072 2016 corporate bonds (10 years) 1,200,000 June 2016 10 years 3.98 % 3.98 % 1,200,000 1,199,973 — 47,760 12 — 1,199,985 2017 medium-term notes (5 years) 5,000,000 July 2017 5 years 4.69 % 4.90 % 5,000,000 5,000,939 — 234,500 939 — 5,001,878 2017 debt financing instrument (3 years) 500,000 July 2017 3 years 4.75 % 4.81 % 500,000 499,563 — 23,750 283 — 499,846 2017 corporate bonds (3 years) 2,300,000 November 2017 3 years 4.99 % 4.99 % 2,300,000 2,299,916 — 114,770 46 — 2,299,962 2018 corporate bonds (3 years) 1,500,000 April 2018 3 years 4.90 % 4.90 % 1,500,000 1,500,010 — 73,500 30 — 1,500,040 2018 medium-term notes (3 years) 3,000,000 May 2018 3 years 4.80 % 4.91 % 3,000,000 2,993,135 — 144,000 2,934 — 2,996,069 2018 medium-term notes (3 years) 2,000,000 July 2018 3 years 4.41 % 4.56 % 2,000,000 1,998,518 — 88,200 2,824 — 2,001,342 2018 debt financing instrument (3 years) 2,500,000 July 2018 3 years 4.68 % 4.81 % 2,500,000 2,492,636 — 117,000 2,911 — 2,495,547 2018 corporate bonds (10 years) 5,000,000 September 2018 10 years 5.05 % 5.05 % 5,000,000 4,999,963 — 252,500 30 — 4,999,993 2019 corporate bonds (10 years) 2,300,000 April 2019 10 years 4.70 % 4.70 % 2,300,000 — 2,300,000 74,725 (10) — 2,299,990 2019 corporate bonds (3 years) 1,000,000 July 2019 3 years 3.55 % 3.55 % 1,000,000 — 1,000,000 17,071 7 — 1,000,007 2019 medium-term notes (3 years) 500,000 July 2019 3 years 3.55 % 3.65 % 500,000 — 500,000 8,051 (1,241) — 498,759 2019 medium-term notes (5 years) 1,500,000 July 2019 5 years 3.85 % 3.96 % 1,500,000 — 1,500,000 26,193 (6,567) — 1,493,433 Total 35,300,000 29,978,142 5,300,000 1,439,099 8,781 (4,000,000) 31,286,923 As at 31 December 2020, the Company provided guarantees for long-term bonds of approximately RMB3,921million (31 December 2019: nil) of the Company’s overseas subsidiary. |
Other non-current liabilities
Other non-current liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Other non-current liabilities | |
Other non-current liabilities | 25 Other non-current liabilities As at 31 December 2020 2019 Government grants -Environmental subsidies (a) 1,102,074 1,155,147 -Other government grants 324,325 306,077 Contract liabilities 2,623,764 2,443,254 Other deferred income 41,324 52,760 Others 758,058 888,809 Subtotal 4,849,545 4,846,047 Current portion of other non-current liabilities (65,277) (65,277) Subtotal (65,277) (65,277) Total 4,784,268 4,780,770 (a) This primarily represented subsidies for the construction of desulphurization equipment and other environmental protection projects. |
Accounts payable and other liab
Accounts payable and other liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Accounts payable and other liabilities | |
Accounts payable and other liabilities | 26 Accounts payable and other liabilities Accounts payable and other liabilities comprised: As at 31 December 2020 2019 Accounts and notes payable 15,777,784 15,850,958 Payables to contractors for construction 18,734,201 12,695,720 Retention payables to contractors 1,530,764 1,537,024 Consideration payables for business acquisition (Note 39) 22,842 — Others 6,689,770 7,186,379 Total 42,755,361 37,270,081 Please refer to Note 35(a)(iv) for details of accounts payable and other liabilities due to the related parties. As at 31 December 2020, there were notes payable amounting to RMB245 million (31 December 2019 : As at 31 December 2020 and 31 December 2019, the accounts and notes payables and other liabilities are non-interest-bearing. 26 Accounts payable and other liabilities (continued) The carrying amounts of accounts payable and other liabilities are denominated in the following currencies: As at 31 December 2020 2019 RMB 40,610,454 34,996,912 S$ (RMB equivalent) 948,817 1,024,453 US$ (RMB equivalent) 799,989 940,749 JPY (RMB equivalent) 12,293 12,564 EUR (RMB equivalent) 224 1,194 PKR (RMB equivalent) 383,584 294,209 Total 42,755,361 37,270,081 The ageing analysis of accounts and notes payable was as follows: As at 31 December 2020 2019 Within 1 year 15,514,112 15,435,470 Between 1 to 2 years 166,088 311,880 Over 2 years 97,584 103,608 Total 15,777,784 15,850,958 |
Taxes payable
Taxes payable | 12 Months Ended |
Dec. 31, 2020 | |
Taxes payable | |
Taxes payable | 27 Taxes payable Taxes payable comprise: As at 31 December 2020 2019 VAT payable 1,159,562 908,491 Income tax payable 288,106 748,957 Others 597,201 444,169 Total 2,044,869 2,101,617 |
Short-term bonds
Short-term bonds | 12 Months Ended |
Dec. 31, 2020 | |
Short-term bonds | |
Short-term bonds | 28 Short-term bonds Outstanding short-term bonds as at 31 December 2020 are summarised as follows: Face Value Issuance Maturity Issue Price Coupon Balance as at 31 Issued Interest Balance as at 31 Date Rate December 2019 Amount Amortization Repayment December 2020 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Super short-term bond (2019 9th) 5,000,000 October 2019 180 days 5,000,000 2.09 % 5,018,170 — 33,977 (754) (5,051,393) — Super short-term bond (2019 10th) 2,000,000 November 2019 90 days 2,000,000 2.00 % 2,006,098 — 3,934 (196) (2,009,836) — Super short-term bond (2019 11th) 2,000,000 December 2019 60 days 2,000,000 1.80 % 2,001,267 — 4,722 (87) (2,005,902) — Super short-term bond (2020 1st) 2,000,000 February 2020 90 days 2,000,000 1.70 % — 2,000,000 8,361 — (2,008,361) — Super short-term bond (2020 2nd) 2,000,000 February 2020 60 days 2,000,000 1.50 % — 2,000,000 4,918 — (2,004,918) — Super short-term bond (2020 3rd) 2,000,000 April 2020 60 days 2,000,000 1.20 % — 2,000,000 3,945 — (2,003,945) — Super short-term bond (2020 4th) 2,000,000 May 2020 90 days 2,000,000 1.20 % — 2,000,000 5,918 — (2,005,918) — Super short-term bond (2020 5th) 2,000,000 October 2020 30 days 2,000,000 1.30 % — 2,000,000 2,137 — (2,002,137) — Super short-term bond (2020 6th) 2,000,000 November 2020 30 days 2,000,000 1.30 % — 2,000,000 2,137 — (2,002,137) — Super short-term bond (2020 7th) 3,000,000 November 2020 30 days 3,000,000 1.40 % — 3,000,000 3,452 — (3,003,452) — Super short-term bond (2020 8th) 2,000,000 December 2020 30 days 2,000,000 1.50 % — 2,000,000 1,891 60 — 2,001,951 Super short-term bond (2020 9th) 3,000,000 December 2020 30 days 3,000,000 1.40 % — 3,000,000 1,036 (110) — 3,000,926 Total 29,000,000 9,025,535 20,000,000 76,428 (1,087) (24,097,999) 5,002,877 Outstanding short-term bonds as at 31 December 2019 are summarised as follows: Issuance Coupon Balance as at 31 Issued Balance as at 31 Face Value Date Maturity Issue Price Rate December 2018 Amount Interest Amortization Repayment 31 December 2019 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Super short-term bond (2018 11th) 2,500,000 October 2018 180 days 2,500,000 3.20 % 2,515,816 — 23,233 403 (2,539,452) — Super short-term bond (2018 12th) 2,000,000 November 2018 90 days 2,000,000 2.78 % 2,006,575 — 6,703 432 (2,013,710) — Super short-term bond (2018 13th) 2,000,000 November 2018 180 days 2,000,000 3.10 % 2,006,841 — 23,781 (47) (2,030,575) — Super short-term bond (2018 14th) 2,000,000 November 2018 180 days 2,000,000 3.05 % 2,005,323 — 23,564 1,195 (2,030,082) — Super short-term bond (2018 15th) 2,000,000 November 2018 90 days 2,000,000 2.78 % 2,004,557 — 8,531 622 (2,013,710) — Super short-term bond (2018 16th) 1,000,000 December 2018 270 days 1,000,000 3.30 % 1,002,342 — 22,060 9 (1,024,411) — Super short-term bond (2019 1st) 2,000,000 March 2019 90 days 2,000,000 2.40 % — 2,000,000 11,803 — (2,011,803) — Super short-term bond (2019 2nd) 5,000,000 May 2019 180 days 5,000,000 2.30 % — 5,000,000 56,557 — (5,056,557) — Super short-term bond (2019 3rd) 2,000,000 May 2019 90 days 2,000,000 2.30 % — 2,000,000 11,311 — (2,011,311) — Super short-term bond (2019 4th) 2,000,000 June 2019 90 days 2,000,000 2.40 % — 2,000,000 11,803 — (2,011,803) — Super short-term bond (2019 5th) 2,000,000 June 2019 90 days 2,000,000 2.40 % — 2,000,000 11,803 — (2,011,803) — Super short-term bond (2019 6th) 2,000,000 August 2019 90 days 2,000,000 2.20 % — 2,000,000 10,820 — (2,010,820) — Super short-term bond (2019 7th) 4,000,000 September 2019 60 days 4,000,000 2.20 % — 4,000,000 14,426 — (4,014,426) — Super short-term bond (2019 8th) 2,000,000 September 2019 90 days 2,000,000 2.15 % — 2,000,000 10,574 — (2,010,574) — Super short-term bond (2019 9th) 5,000,000 October 2019 180 days 5,000,000 2.09 % — 5,000,000 17,416 754 — 5,018,170 Super short-term bond (2019 10th) 2,000,000 November 2019 90 days 2,000,000 2.00 % — 2,000,000 5,902 196 — 2,006,098 Super short-term bond (2019 11th) 2,000,000 December 2019 60 days 2,000,000 1.80 % — 2,000,000 1,180 87 — 2,001,267 Total 41,500,000 11,541,454 30,000,000 271,467 3,651 (32,791,037) 9,025,535 |
Short-term loans
Short-term loans | 12 Months Ended |
Dec. 31, 2020 | |
Short-term loans [abstract] | |
Short-term loans | 29 Short-term loans Short-term loans are as follows: As at 31 December 2020 As at 31 December 2019 Original RMB Annual Original RMB Annual currency equivalent interest rate currency equivalent interest rate '000 '000 Secured RMB - Fixed rate 1,614,700 1,614,700 2.85%-4.77% 667,979 667,979 0.00%-4.20% - Variable rate 49,455 49,455 3.15%-3.96% — — — Unsecured RMB - Fixed rate 13,093,783 13,093,783 2.15%-4.75% 13,935,660 13,935,660 3.15%-4.35% - Variable rate 51,441,800 51,441,800 2.30%-4.37% 50,948,412 50,948,412 3.60%-4.79% US$ - Fixed rate 17,076 111,422 4.90% 200,000 1,394,304 3.32% PKR - Variable rate — — — 3,857,000 173,013 14.58% Total 66,311,160 67,119,368 As at 31 December 2020, short-term loans of RMB1,317 million (31 December 2019: RMB659 million) represented the notes receivable that were discounted with recourse. As these notes receivable had not yet matured, the proceeds received were recorded as short-term loans. As at 31 December 2020, short-term loans of RMB347 million were secured by certain equipment with a net book value amounting to approximately RMB347 million. As at 31 December 2019, short-term loans borrowed from China Minsheng Banking Corp., Ltd. (“China Minsheng Bank”) amounting to RMB9 million were secured by a deposit of RMB1.49 million. As at 31 December 2020, the aforementioned loans were fully repaid. As at 31 December 2019, short-term loans of RMB1,567 million represented the guaranteed loan borrowed by Ruyi Pakistan Energy, of which US$0.2 billion (equivalent to RMB1,394 million) was guaranteed by Shandong Power and Ruyi Technology Group (the other shareholder of Ruyi Pakistan Energy) on the proportion of the shareholding basis and PKR3.86 billion (equivalent to RMB173 million) was guaranteed by Shandong Luyi Power International Limited Company (“Luyi Power”), a joint venture of Shandong Power. As at 31 December 2020, the aforementioned loans were fully repaid. As at 31 December 2020, short-term loans borrowed from Huaneng Finance amounted to RMB10,059 million (31 December 2019: RMB8,583 million) with annual interest rates ranging from 3.62% to 4.75% (31 December 2019: from 3.91% to 4.35%). Short-term loans borrowed from Tiancheng Financial Leasing amounted to RMB347 million (31 December 2019: RMB166 million ) with annual interest rates ranging from 4.15% to 4.77% (31 December 2019: 4.35%). Short-term loans borrowed from Hong Kong Asset Management amounted to RMB111 million (31 December 2019: Nil) with an annual interest rate of 4.90%. |
Deferred income tax assets and
Deferred income tax assets and liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Deferred income tax assets and liabilities [abstract] | |
Deferred income tax assets and liabilities | 30 Deferred income tax assets and liabilities The deferred income tax assets and liabilities are as follows: As at 31 December 2020 2019 Deferred income tax assets before offsetting 3,607,935 3,844,143 Offset amount (908,540) (1,683,956) Deferred income tax assets after offsetting 2,699,395 2,160,187 Deferred income tax liabilities before offsetting (3,911,067) (4,821,747) Offset amount 908,540 1,683,956 Deferred income tax liabilities after offsetting (3,002,527) (3,137,791) (303,132) (977,604) The gross movement on the deferred income tax accounts is as follows: 2020 2019 Beginning of the year (977,604) (1,583,574) Business combination (16,000) — Disposal of other equity instrument investments — 167,182 Credited to profit or loss (Note 32) 658,128 470,330 Credited/(charged) to other comprehensive income 1,751 (9,550) Currency translation differences 30,593 (21,992) End of the year (303,132) (977,604) 30 Deferred income tax assets and liabilities (continued) The movements in deferred income tax assets and liabilities during the year, without taking into consideration the offsetting of balances within the same tax jurisdictions, are as follows: Deferred income tax assets: VAT refunds on purchases of Fair Amortization Provision for domestically Hedging value of land use impairment Accrued manufactured Unused Lease reserve losses rights loss Depreciation expenses equipment tax losses liabilities Others Total As at 1 January 2019 84,114 — 12,929 638,589 926,557 56,017 154,143 774,677 — 1,256,305 3,903,331 (Charged)/credited to profit or loss — — (493) 179,661 (86,022) 19,970 (25,433) (224,918) 965 18,298 (117,972) (Charged)/credited to other comprehensive income (24,966) 80,359 — — — — — — — — 55,393 Currency translation differences 2,228 — — 690 — — — — — 473 3,391 As at 31 December 2019 61,376 80,359 12,436 818,940 840,535 75,987 128,710 549,759 965 1,275,076 3,844,143 (Charged)/credited to profit or loss — — (493) (84,470) 107,634 (2,439) (25,424) (146,025) 1,845 (81,907) (231,279) (Charged)/credited to other comprehensive income (42,245) 43,564 — — — — — — — — 1,319 Currency translation differences (2,121) — — (423) — — — — — (3,704) (6,248) As at 31 December 2020 17,010 123,923 11,943 734,047 948,169 73,548 103,286 403,734 2,810 1,189,465 3,607,935 Deferred income tax liabilities: Amortization Power Territorial Fair value of land use generation Mining water Right-of- gains rights Depreciation license rights use right use assets Others Total As at 1 January 2019 (108,970) (982,445) (3,407,818) (682,543) (129,383) (2,409) — (173,337) (5,486,905) Disposal of other equity instrument investments 167,182 — — — — — — — 167,182 Credited/(charged) to profit or loss — 36,507 412,408 — — — (120) 139,507 588,302 Charged to other comprehensive income (64,943) — — — — — — — (64,943) Currency translation differences — (738) (1,781) (22,864) — — — — (25,383) As at 31 December 2019 (6,731) (946,676) (2,997,191) (705,407) (129,383) (2,409) (120) (33,830) (4,821,747) Business combination — — (16,000) — — — — — (16,000) Credited to profit or loss — 40,728 833,864 — — — (4,659) 19,474 889,407 Charged to other comprehensive income 432 — — — — — — — 432 Currency translation differences — (702) 4,483 33,060 — — — — 36,841 As at 31 December 2020 (6,299) (906,650) (2,174,844) (672,347) (129,383) (2,409) (4,779) (14,356) (3,911,067) As at 31 December 2020 and 2019, taxable temporary differences relating to interest in equity method investees amounted to RMB5.04 billion and RMB4.04 billion, respectively. No deferred tax liabilities were recognized as at 31 December 2020 and 2019 as dividends from investments in associates and joint ventures are exempted from the PRC income tax and the Company has no plan to dispose of any of these investees in the foreseeable future. As at 31 December 2020 and 2019, taxable temporary differences relating to the interest of foreign subsidiaries amounted to RMB2.12 billion and RMB2.22 billion, respectively. No deferred tax liabilities were recognized in respect of the tax that would be payable on the distribution of these interests as at 31 December 2020 and 2019 as the Company controls the dividend policy of the subsidiaries, and it has been determined that it is probable that the interests will not be distributed in the foreseeable future, and the Company has no plan to dispose of any of these investees in the foreseeable future. 30 Deferred income tax assets and liabilities (continued) In accordance with the accounting policy set out in Note 2(w), the Group did not recognize deferred income tax assets in respect of certain deductible temporary differences and accumulated tax losses that can be carried forward against future taxable income as follows: As at 31 December 2020 2019 Deductible temporary differences 14,885,723 9,832,527 Unused tax losses 10,917,409 10,504,590 Total 25,803,132 20,337,117 The expiry dates of the tax losses of the Group for which no deferred income tax assets were recognized are summarized as follows: As at 31 December 2020 2019 Year of expiry 2020 — 1,452,554 2021 1,400,289 1,420,522 2022 2,124,756 2,208,635 2023 2,421,087 2,472,090 2024 2,966,842 2,950,789 2025 2,004,435 — Total 10,917,409 10,504,590 |
Additional financial informatio
Additional financial information to consolidated statement of financial position | 12 Months Ended |
Dec. 31, 2020 | |
Additional financial information to consolidated statement of financial position | |
Additional financial information to the consolidated statement of financial position | 31 Additional financial information to the consolidated statement of financial position As at 31 December 2020, the net current liabilities of the Group amounted to approximately RMB87,910 million (2019: RMB80,839 million). On the same date, total assets less current liabilities were approximately RMB295,857 million (2019: RMB286,630 million). |
Income tax expense
Income tax expense | 12 Months Ended |
Dec. 31, 2020 | |
Income tax expense | |
Income tax expense | 32 Income tax expense For the year ended 31 December 2020 2019 2018 Current income tax expense 2,821,301 2,481,585 1,418,993 Deferred income tax (Note 30) (658,128) (470,330) (775,820) Total 2,163,173 2,011,255 643,173 32 Income tax expense (continued) No Hong Kong profits tax has been provided as there were no estimated assessable profits in Hong Kong for the year (2019 and 2018: Nil). The Company and its PRC branches and subsidiaries are subject to income tax at 25%, except for certain PRC branches and subsidiaries that are tax exempted or taxed at preferential tax rates, as determined in accordance with the relevant PRC income tax rules and regulations for the years ended 31 December 2020, 2019 and 2018. The income tax rate applicable to Singapore subsidiaries is 17% (2019: 17%; 2018: 17%). The Company’s overseas subsidiary in Pakistan engaged in the power generation business is entitled to an income tax exemption according to Income Tax Ordinance 2001. Another subsidiary located in Pakistan engaged in the provision of maintenance services. Before 1 July 2019, the subsidiary’s tax liability would be calculated at the highest of (i) normal tax at the rate of 29% of taxable income; (ii) Alternative Corporate Tax (ACT) at the rate of 17% of accounting profit; and (iii) minimum tax deductible at 8% of the revenue. If the income tax calculated is above normal tax at the rate of 29%, it would be carried forward to subsequent years for settlement against the liabilities of following years. The carry forward time period is 5 years in case of minimum tax and 10 years in case of ACT. However, from 1 July 2019, if the minimum tax liability is above the normal tax calculated, it cannot be carried forward to subsequent years. The reconciliation of the effective income tax rate from the notional income tax rate is as follows: For the year ended 31 December 2020 2019 2018 PRC statutory enterprise income tax rate 25.00 % 25.00 % 25.00 % Effect of different tax rates of certain subsidiaries (13.88) % (7.33) % (3.56) % Utilisation of previously unrecognized tax losses and deductible temporary differences (5.50) % (6.00) % (2.66) % Unrecognized tax losses for the year 12.99 % 27.76 % 29.49 % Unrecognized deductible temporary differences 26.17 % 34.68 % 5.92 % Effect of non-taxable income (9.34) % (10.44) % (28.53) % Effect of non-deductible expenses 8.70 % 3.18 % 11.22 % Others 1.17 % (2.38) % (4.27) % Effective tax rate 45.31 % 64.47 % 32.61 % |
Earnings per share
Earnings per share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings per share | |
Earnings per share | 33 Earnings per share The basic earnings per share is calculated by dividing the consolidated net profit attributable to the equity holders of the Company excluding cumulative distribution of other equity instruments by the weighted average number of the Company’s outstanding ordinary shares during the year: For the year ended 31 December 2020 2019 2018 Consolidated net profit attributable to equity holders of the Company 2,377,851 766,345 734,435 Less: cumulative distribution of other equity instruments 1,770,469 685,922 342,349 Consolidated net profit attributable to ordinary shareholders of the Company 607,382 80,423 392,086 Weighted average number of the Company’s outstanding ordinary shares (’000) 15,698,093 15,698,093 15,283,335 Basic and diluted earnings per share (RMB) 0.04 0.01 0.03 *Weighted average number of ordinary shares: 2020 2019 2018 ’000 ’000 ’000 Issued ordinary shares at 1 January 15,698,093 15,698,093 15,200,383 Effect of share issue — — 82,952 Weighted average number of ordinary shares at 31 December 15,698,093 15,698,093 15,283,335 There was no dilutive effect on earnings per share since the Company had no dilutive potential ordinary shares for the years ended 31 December 2020, 2019 and 2018. |
Notes to consolidated statement
Notes to consolidated statement of cash flows | 12 Months Ended |
Dec. 31, 2020 | |
Notes to consolidated statement of cash flows [abstract] | |
Notes to the consolidated statement of cash flows | 34 Notes to the consolidated statement of cash flows Bank balances and cash comprise the following: As at 31 December 2020 2019 2018 Total bank balances and cash 13,871,523 13,306,139 15,832,788 Add: Cash and cash equivalents transferred to disposal group — — 15,104 Less: Restricted cash 613,631 862,881 430,210 Cash and cash equivalents as at year end 13,257,892 12,443,258 15,417,682 34 Notes to the consolidated statement of cash flows (continued) The bank balances and cash of the Group are denominated in the following currencies: As at 31 December 2020 2019 2018 RMB 12,200,948 10,649,660 14,389,435 S$(RMB equivalent) 776,703 1,243,481 927,395 US$(RMB equivalent) 462,560 716,233 482,666 Others 431,312 696,765 33,292 Total 13,871,523 13,306,139 15,832,788 During the year, the Group had non-cash additions to right-of-use assets and lease liabilities of RMB2,053 million and RMB2,053 million, respectively, in respect of lease arrangements (2019: RMB2,234 million and RMB2,234 million; 2018: not applicable). 34 Notes to the consolidated statement of cash flows (continued) The table below details changes in the Group’s liabilities from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are liabilities for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statement of cash flows as cash flows from financing activities: Cumulative distribution of other equity Lease Loans Bonds Accrued instruments liabilities Dividends Items (Notes 23,29) (Notes 24,28) interests (Note 20) (Note 41) payable As at 1 January 2020 201,142,080 40,312,458 1,276,703 77,106 4,712,670 1,191,036 (a) Business combination 878,997 — — — 91,595 — (b) Changes from financing cash flows: Proceeds from loans 168,677,805 — — — — — Repayment of loans (171,947,870) — — — — — Proceeds from new bonds — 24,217,730 — — — — Repayment of bonds — (26,800,000) — — — — Payment of lease liabilities — — — — (1,297,746) — Interest paid (7,976,843) (896,587) (1,276,703) (1,436,117) — — Dividends paid to shareholders of the Company — — — — — (2,119,243) Dividends paid to non-controlling interests of the subsidiaries — — — — — (1,702,511) Others — (35,283) — — — — (c) Exchange adjustments (847,434) (305,256) — — (66,099) — (d) Other changes: New leases — — — — 2,201,755 — Interest expenses 7,415,824 1,582,524 — — 202,264 — Accrued cumulative distribution of other equity instrument investments — — — 1,770,469 — — Capitalized borrowing costs 854,309 — — — 73,546 — Dividends relating to 2019 — — — — — 3,325,572 Early termination of lease — — — — (348,242) — Other — (11,793) — — (87,397) — As at 31 December 2020 198,196,868 38,063,793 — 411,458 5,482,346 694,854 34 Notes to the consolidated statement of cash flows (continued) Finance lease Loans in Cumulative payables/ disposal distribution of Lease Loans group held Bonds Accrued other equity liabilities Dividends Items (Notes 23,29) for sale (Notes 24,28) interests instruments (Note 41) payable As at 31 December 2018 211,207,782 297,400 41,519,596 1,152,767 8,846 1,442,174 1,267,833 Effect of adoption of IFRS 16 — — — — — 774,618 — As at 1 January 2019 (restated) 211,207,782 297,400 41,519,596 1,152,767 8,846 2,216,792 1,267,833 (a) Asset acquisitions 9,418 — — — — 602,257 — (b) Changes from financing cash flows: Proceeds from loans 119,800,321 498,000 — — — — — Repayment of loans (130,703,965) (213,400) — — — — — Proceeds from new bonds — — 35,300,000 — — — — Repayment of bonds — — (36,500,000) — — — — Payment of lease liabilities — — — — — (488,015) — Interest paid — — (291,040) (10,732,737) (617,662) — — Dividends paid to shareholders of the Company — — — — — — (1,569,809) Dividends paid to non-controlling interests of the subsidiaries — — — — — — (1,436,574) Others — — (29,075) — — — — (c) Exchange adjustments 811,524 — — — — (23,673) — (d) Other changes: New leases — — — — — 2,233,736 — Interest expenses — — 314,280 10,276,865 — 171,573 — Accrued cumulative distribution of other equity instrument investments — — — — 685,922 — — Capitalized borrowing costs — — — 579,808 — — — Dividends relating to 2018 — — — — — — 2,929,586 Disposal group held for sale — (582,000) — — — — — Others 17,000 — (1,303) — — — — As at 31 December 2019 201,142,080 — 40,312,458 1,276,703 77,106 4,712,670 1,191,036 34 Notes to the consolidated statement of cash flows (continued) Cumulative distribution Interest rate Accrued of other equity Finance leases swap contracts Items Loans Bonds interest instrument payables (liabilities) As at 1 January 2018 205,380,764 31,059,223 947,302 — 1,600,106 130,643 (a) Business combination 11,983,707 — 16,798 — 249,161 — (b) Changes from financing cash flows: Proceeds from new bank loans 126,001,437 — — — — — Repayment of bank loans (132,293,601) — — — — — Proceeds from new bonds — 54,000,000 — — — — Repayment of bonds — (43,500,000) — — — — Capital element of finance lease rentals paid — — — — (549,169) — Interest element of finance lease rentals paid — — — — (87,857) — Interest paid — (643,356) (10,011,011) (333,504) — — Others (20,466) (73,562) — — — — (c) Exchange adjustments 415,219 — 2,959 — (242) — (d) Changes in fair value — — — — — 18,474 (e) Other changes: New finance leases — — — — 34,911 — Interest expenses — 686,017 9,701,316 — 99,079 — Accrued cumulative distribution of other equity instrument investments — — — 342,350 — — Capitalized borrowing costs — — 495,818 — — — Transfer to a disposal group held for sale (297,400) — (415) — — — Others 38,122 (8,726) — — 96,185 — As at 31 December 2018 211,207,782 41,519,596 1,152,767 8,846 1,442,174 149,117 The total cash outflow for leases included in the consolidated statement of cash flows is as follows: For the year ended 31 December 2020 2019 Within financing activities* 1,297,746 488,015 Total 1,297,746 488,015 * During the year, the principal portion of lease liabilities paid was RMB1,022 million (2019: RMB316 million). |
Related party balances and tran
Related party balances and transactions | 12 Months Ended |
Dec. 31, 2020 | |
Related party balances and transactions [abstract] | |
Related party balances and transactions | 35 Related party balances and transactions The related parties of the Group that had transactions with the Group are as follows: Names of related parties Nature of relationship Huaneng Group Ultimate parent company HIPDC Parent company Huaneng (Tianjin) Coal Gasification Power Generation Co., Ltd. An associate of the Company and also a subsidiary of Huaneng Group Tiancheng Financial Leasing An associate of the Company and also a subsidiary of Huaneng Group Huaneng Supply Chain Platform Technology Co., Ltd. and its subsidiaries Associates of the Company and also subsidiaries of Huaneng Group Shanghai Leading Energy Shipping Ltd. An associate of the Company and also a subsidiary of Huaneng Group Huaneng Shidao Bay Nuclear Power Development Co., Ltd. An associate of the Company and also a subsidiary of Huaneng Group Huaneng Xiapu Nuclear Power Co., Ltd. An associate of the Company and also a subsidiary of Huaneng Group Huaneng Group Fuel Company and its subsidiaries Associates of the Company and also subsidiaries of Huaneng Group Huaneng Finance An associate of the Company and also a subsidiary of Huaneng Group Huaneng Changjiang Environmental Protection Technology Co., Ltd. An associate of the Company and also a subsidiary of Huaneng Group Yangquan Coal Industry Group Huaneng Coal Power Investment Co., Ltd. An associate of the Company Chongqing Huaneng Lime Company Limited An associate of the Company Jilin Zhanyu Wind Power Asset Management Co., Ltd. An associate of the Company Suzhou Sugao Renewables Service Co. Ltd. An associate of the Company Jiangyin Chengdongnan Thermal Power Co., Ltd. An associate of the Company Hainan Nuclear An associate of the Company Shandong Electric Power Trading Center An associate of the Company Shandong Lu Xin Energy Investment Management Co., Ltd. An associate of the Company Huaneng Yingkou Port Limited Liability Company A joint venture of the Company Huaneng Anyang Thermal Power Co., Ltd. A joint venture of the Company Luyi Power A joint venture of the Company Shanghai Time Shipping A joint venture of the Company Jiangsu Nantong Power A joint venture of the Company Jining Huayuan Thermal Power Co., Ltd. A joint venture of the Company Huaneng (Zhangzhou, Fujian) Energy Co., Ltd. A joint venture of the Company Yantai Gangneng Bulk Cargo Terminal Co., Ltd. A joint venture of the Company North United Power Corporation and its subsidiaries Subsidiaries of Huaneng Group Beijing Changping Huaneng Training Center A subsidiary of Huaneng Group Huaneng Hulunbuir Energy Development Company Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Tendering Co., Ltd. A subsidiary of Huaneng Group Huaneng Ningxia Energy Company Ltd. A subsidiary of Huaneng Group Huaneng Renewables Corporation Limited and its subsidiaries Subsidiaries of Huaneng Group Huaneng Songyuan Power Co., Ltd. A subsidiary of Huaneng Group Huaneng Nuclear Power Development Company Ltd. A subsidiary of Huaneng Group Huaneng Lancangjiang Hydropower Co., Inc. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Coal Business Sector Co., Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Gansu Energy Development Company Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Baishan Coal Gangue Power Generation Co., Ltd. A subsidiary of Huaneng Group Huaneng Carbon Assets Management Company Limited A subsidiary of Huaneng Group Huaneng Qinghai Power Generation Co., Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Property Co., Ltd. and its subsidiaries Subsidiaries of Huaneng Group 35 Related party balances and transactions (continued) The related parties of the Group that had transactions with the Group are as follows: (continued) Names of related parties Nature of relationship Huaneng Energy & Communications Holdings Co., Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Tibet Yarlung Zangbo River Hydropower Development & Investment Company Ltd.and its subsidiaries Subsidiaries of Huaneng Group Huaneng Xinjiang Energy Development Company Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Capital Services and its subsidiaries Subsidiaries of Huaneng Group Huaneng Shaanxi Power Generation Limited and its subsidiaries Subsidiaries of Huaneng Group Huaneng Group Technology Innovation Center A subsidiary of Huaneng Group Alltrust Insurance Co., Ltd. A subsidiary of Huaneng Group Xi’an Thermal and its subsidiaries Subsidiaries of Huaneng Group Great Wall Securities Co., Ltd. (Great Wall Securities) A subsidiary of Huaneng Group Huaneng Group Clean Energy Technology Research Institute Co., Ltd. A subsidiary of Huaneng Group China Hua Neng Group Hong Kong Limited A subsidiary of Huaneng Group Huaneng Hainan Industry Co., Ltd. A subsidiary of Huaneng Group Huaneng Integrated Industries Management Co., Ltd. A subsidiary of Huaneng Group Huangtai #8 Power Plant An investee with significant influence Other government-related enterprises** Related parties of the Company * Transactions with subsidiaries of Huaneng Group which also are associates of the Group are presented as transactions with subsidiaries of Huaneng Group for Note 35(a) and 35(b). ** Huaneng Group is a state-owned enterprise. In accordance with the revised IAS 24 Related Party Disclosures, government-related enterprises, other than entities under Huaneng Group, which the PRC government has control, joint control or significant influence over, are also considered as related parties of the Group (“other government-related enterprises”). The majority of the business activities of the Group are conducted with other government-related enterprises. For the purpose of the disclosure of the related party balances and transactions, the Group has established procedures to determine, to the extent possible, the identification of the ownership structure of its customers and suppliers as to whether they are government-related enterprises. However, many government-related enterprises have a multi-layered corporate structure and the ownership structures change over time as a result of transfers and privatization programs. Nevertheless, management believes that all material related party balances and transactions with other government-related enterprises have been adequately disclosed. In addition to the related party information shown elsewhere in these financial statements, the following is a summary of significant related party transactions entered into in the ordinary course of business between the Group and their related parties during the year and significant balances arising from related party transactions as at the year end. All transactions with related parties were conducted at prices and on terms mutually agreed by the parties involved, and are based on normal commercial terms or better and with reference to the prevailing local market conditions. 35 Related party balances and transactions (continued) (a) Related party balances (i) Cash deposits in related parties As at 31 December 2020 2019 Deposits in Huaneng Finance - Savings deposits 8,067,854 9,529,586 For the year ended 31 December 2020, the annual interest rates for these savings deposits ranged from 0.35% to 1.49% (2019: from 0.35% to 1.35%). (ii) As described in Notes 23 and 29, certain loans of the Group were borrowed from Huaneng Group, Huaneng Finance, Tiancheng Financial Leasing and Hong Kong Asset Management. (iii) Except for those disclosed in Notes 23 and 29, the majority of the balances with Huaneng Group, HIPDC, subsidiaries of Huaneng Group, associates, joint ventures and other related parties are unsecured and repayable within one year. As at and for the years ended 31 December 2020 and 2019, no provision was made on receivable balances from these parties. Accounts receivable, other receivables and assets, property, plant and equipment and other non-current assets comprise the following balances due from related parties: As at 31 December 2020 2019 Due from Huaneng Group 36,683 464,087 Due from joint ventures 390,324 106,251 Due from subsidiaries of Huaneng Group 156,422 125,288 Due from Huangtai #8 Power Plant 775,109 792,136 Total 1,358,538 1,487,762 (iv) Accounts payable and other liabilities, lease liabilities and other non-current liabilities comprise the following balances due to related parties: As at 31 December 2020 2019 Due to Huaneng Group 382,571 285,725 Due to HIPDC 13,788 13,430 Due to joint ventures 150,357 120,153 Due to subsidiaries of Huaneng Group 9,730,905 5,762,265 Total 10,277,621 6,181,573 35 Related party balances and transactions (continued) (a) Related party balances (continued) (v) As at 31 December 2020, included in long-term loans (including current portion) and short-term loans are loans payable to other government-related enterprises amounting to RMB196.9billion (2019: RMB186.8 billion). The balances with government-related enterprises also included substantially all the accounts receivable due from domestic power plants of government-related power grid companies, the bank deposits placed with government-related financial institutions as well as accounts payable and other payables arising from the purchases of coal and property, plant and equipment construction and related labor service provided by other government-related enterprises. Except for bank deposits, these balances are unsecured and the majority of the balances are receivable/repayable within one year. (b) Related party transactions (i) Procurement of goods and receiving services For the year ended 31 December 2020 2019 2018 Huaneng Group Other purchases 415 570 506 HIPDC Technical services and engineering contracting services — — 7 Subsidiaries of Huaneng Group Purchase of coal and transportation services 35,412,425 32,623,831 23,873,672 Technical services and engineering contracting services 1,445,088 1,776,442 1,121,516 Purchase of equipment 378,382 52,802 176,506 Purchase of heat 45,520 61,080 69,527 Other purchases 51,240 46,627 260 Joint ventures of the Group Purchase of coal and transportation services 522,570 835,462 1,798,673 Entrusting other parties for power generation 23,611 — 10,127 Associates of the Group Technical services and engineering contracting services — — 3,812 Purchase of equipment 27,241 38,387 — Purchase of coal and transportation services 204,419 181,479 — Other purchases — 529 36,826 35 Related party balances and transactions (continued) (b) Related party transactions (continued) (ii) Sales of goods and providing services For the year ended 31 December 2020 2019 2018 Huaneng Group Services provided 77,462 31,756 15,472 HIPDC Services provided 370 124 1,067 Other sales — — 2,534 Subsidiaries of Huaneng Group Sales of power generation quota — — 3,065 Sales of goods — — 637,059 Service provided 134,111 68,052 45,677 Other sales 48,574 2,922 11,399 Joint ventures of the Group Service provided 82,229 52,602 392,744 Other sales 8,404 25,102 45,997 Huangtai #8 Power Plant Service provided — — 2,830 35 Related party balances and transactions (continued) (b) Related party transactions (continued) (iii) Other related party transactions For the year ended 31 December 2020 2019 2018 (1) Rental charge paid HIPDC 104,696 104,929 107,712 Subsidiaries of Huaneng Group 218,463 93,203 154,192 A joint venture of the Group — — 589 Huaneng Group 57 — — (2) Rental income received A joint venture of the Group 8,659 7,448 7,448 Subsidiaries of Huaneng Group 1,978 2,400 3,609 Huangtai #8 Power Plant 19,689 21,253 22,497 (3) Net loans received from/(repaid to) Subsidiaries of Huaneng Group 2,789,776 (11,369) (113,430) A joint venture of the Group — 150,000 — (4) Interest expense on loans Huaneng Group 30,306 30,224 32,037 A joint venture of the Group 6,591 4,374 — Subsidiaries of Huaneng Group 552,565 515,532 524,716 (5) Interest income on loans Joint ventures of the Group 4,339 3,747 3,540 An associate of the Group — — 6,639 (6) Provide entrusted loans* A joint venture of the Group 224,000 — — (7) Capital injection from a subsidiary of Huaneng Group A subsidiary of Huaneng Group 278,073 227,569 379,906 (8) Capital injection to Subsidiaries of Huaneng Group 94,500 94,770 320,680 Associates of the Group 185,261 43,427 142,579 Joint ventures of the Group 317,116 175,000 — 35 Related party balances and transactions (continued) (b) Related party transactions (continued) (iii) Other related party transactions (continued) For the year ended 31 December 2020 2019 2018 (9) Entrusted management fee Huaneng Group 14,370 12,340 15,000 (10) Trusteeship management income Huaneng Group 4,822 4,821 5,110 Huangtai #8 Power Plant 3,240 — — (11) Net proceeds received from an investee with significant influence Huangtai #8 Power Plant 9,822 41,328 60,246 (12) Profit compensation received Huaneng Group 457,727 550,832 615,013 (13) Acquisition consideration (Note 39) Subsidiaries of Huaneng Group 237,228 — 1,172,508 (14) Disposal consideration Subsidiaries of Huaneng Group — 1,050 — (15) Pre-construction cost paid by A subsidiary of Huaneng Group — — 90 (16) Finance lease payments received from A subsidiary of Huaneng Group — — 57,676 (17) Collateral received under a loan agreement An associate of the Group — — 96,902 * The entrusted loans were fully repaid in February 2021. 35 Related party balances and transactions (continued) (b) Related party transactions (continued) (iii) Other related party transactions (continued) Transactions with government-related enterprises For the years ended 31 December 2020 and 2019, apart from overseas segment, the Group sold substantially all its products to local government-related power grid companies. Please refer to Note 5 for details of sales information to major power grid companies. For the years ended 31 December 2020 and 2019, other collectively-significant transactions with government-related enterprises also included a large portion of domestic fuel purchases, property, plant and equipment construction and related labour employed. (c) Guarantees As at 31 December 2020 2019 (i) Long-term loans guaranteed by - Huaneng Group 1,407,338 2,335,611 - HIPDC — 2,014,800 (ii) Short-term loans guaranteed by - Huaneng Group — 687,470 (d) Pre-tax benefits and social insurance of key management personnel For the year ended 31 December 2020 2019 2018 Salaries 9,373 6,881 6,754 Pension 1,329 1,262 1,292 Total 10,702 8,143 8,046 (e) Related party commitments Related party commitments which were contracted but not recognized in the consolidated statement of financial position as at the end of the reporting period are as follows: (i) Capital commitments As at 31 December 2020 2019 Subsidiaries of Huaneng Group 1,947,988 714,129 35 Related party balances and transactions (continued) (e) Related party commitments (continued) (ii) Investment commitment (Note 38) As at 31 December 2020 2019 A joint venture of the Group — 31,116 (iii) Fuel purchase and transportation commitments As at 31 December 2020 2019 Subsidiaries of Huaneng Group 1,519,364 2,174,241 A joint venture of the Group 131,810 143,614 (f) Applicability of the Listing Rules relating to connected transactions The related party transactions with HIPDC, Huaneng Group and its subsidiaries in respect of the purchase of coal and transportation services, equipment, technical services and engineering contracting services, leasing rental and interest expenses incurred by the Group as disclosed in Note 35(b) constitute connected transactions or continuing connected transactions as defined in Chapter 14A of the Listing Rules. The disclosures required by Chapter 14A of the Listing Rules are provided in the section “Connected transactions” of the Directors’ Report of the Group for the year ended 31 December 2020. |
Labor cost
Labor cost | 12 Months Ended |
Dec. 31, 2020 | |
Labor cost | |
Labor cost | 36 Labor cost Other than the salaries and staff welfare, the labor cost of the Group mainly comprises the following: All PRC employees of the Group are entitled to a monthly pension upon their retirements. The PRC government is responsible for the pension liability to these employees on retirement. The Group is required to make contributions to the publicly administered retirement plan for its PRC employees at a specified rate, currently set at 14% to 20% (2019: 14% to 22%; 2018: 14% to 22%) of the basic salary of the PRC employees. Affected by the Covid-19 pandemic, the government has temporarily reduced the employee social benefit expenditures of entities in the PRC for a certain period time based on the severity of the pandemic in different regions. The retirement plan contributions paid by the Group for the year ended 31 December 2020 were approximately RMB507 million (2019: RMB1,198 million; 2018: 1,179 million), including approximately RMB481 million (2019: RMB1,155 million; 2018: RMB1,135 million) charged to profit or loss. In addition, the Group has also implemented a supplementary defined contribution retirement scheme for PRC employees. Under this scheme, the employees are required to make a specified contribution based on the number of years of service with the Group, and the Group is required to make a contribution equal to two to four times the employees’ contributions. The employees will receive the total contributions upon their retirement. For the year ended 31 December 2020, the contributions to the supplementary defined contribution retirement scheme paid by the Group amounted to approximately RMB698 million (2019: RMB601 million; 2018: RMB483 million), including approximately RMB662 million (2019: RMB581 million; 2018: RMB465 million) charged to profit or loss. SinoSing Power and its subsidiaries in Singapore appropriate what at a specified rate, currently set at 7.5% to 17% (2019: 7.5% to 17%; 2018: 6.5% to 16%) of the basic salary to central provident funds in accordance with the local government regulations. The contributions made by SinoSing Power and its subsidiaries for the year ended 31 December 2020 amounted to approximately RMB23.07 million (2019: RMB20.73 million; 2018: RMB17.53 million), all of which were charged to profit or loss. The Group has no further obligation for post-retirement benefits beyond the annual contributions made above. In addition, the Group also makes contributions of housing funds and social insurance to the social security institutions at specified rates of the basic salary and no more |
Directors', supervisors' and se
Directors', supervisors' and senior management's emoluments | 12 Months Ended |
Dec. 31, 2020 | |
Directors', supervisors' and senior management's emoluments [abstract] | |
Directors', supervisors' and senior management's emoluments | 37 Directors’, supervisors’ and senior management’s emoluments (a) Pre-tax benefits and social insurance of directors and supervisors The remuneration of every director and supervisor of the Company for the year ended 31 December 2020 is set out below: Performance Fees Basic salaries bonuses Pension Total Name of director Mr. Zhao Keyu 1,8 — 215 836 135 1,186 Mr. Zhaoping 2,8 — 212 789 123 1,124 Mr. Huang Jian — — — — — Mr. Wang Kui 2 — — — — — Mr. Lu Fei 2 — — — — — Mr. Teng Yu 2 — — — — — Mr. Mi Dabin — — — — — Mr. Cheng Heng — — — — — Mr. Li Haifeng 3 — — — — — Mr. Lin Chong — — — — — Mr. Xu Mengzhou 300 — — — 300 Mr. Liu Jizhen 300 — — — 300 Mr. Xu Haifeng 300 — — — 300 Mr. Zhang Xianzhi 300 — — — 300 Mr. Xia Qing 2 150 — — — 150 Mr. Shu Yinbiao 4 — — — — — Mr. Wang Yongxiang 5 — — — — — Mr. Guo Hongbo 6 — — — — — Mr. Yue Heng 5 150 — — — 150 Sub-total 1,500 427 1,625 258 3,810 Name of supervisor Mr. Li Shuqing 2 — — — — — Mr. Mu Xuan — — — — — Mr. Ye Cai 2 — — — — — Mr. Gu Jianguo — — — — — Ms. Zhang Xiaojun — 150 761 122 1,033 Mr. Xu Jianping 2 — 79 357 77 513 Mr. Ye Xiangdong 5 — — — — — Ms. Zhang Mengjiao 5 — — — — — Mr. Zhang Xiancheng 5 — 75 408 55 538 Sub-total — 304 1,526 254 2,084 Total 1,500 731 3,151 512 5,894 37 Directors’, supervisors’ and senior management’s emoluments (continued) (a) Pre-tax benefits and social insurance of directors and supervisors (continued) The remuneration of every director and supervisor of the Company for the year ended 31 December 2019 is set out below: Performance Fees Basic salaries bonuses Pension Total Name of director Mr. Zhao Keyu 1 — — — — — Mr. Shu Yinbiao 4 — — — — — Mr. Cao Peixi 7 — — — — — Mr. Huang Jian — — — — — Mr. Wang Yongxiang — — — — — Mr. Mi Dabin — — — — — Mr. Guo Hongbo — — — — — Mr. Cheng Heng — — — — — Mr. Lin Chong — — — — — Mr. Yue Heng 300 — — — 300 Mr. Xu Mengzhou 300 — — — 300 Mr. Liu Jizhen 300 — — — 300 Mr. Xu Haifeng 300 — — — 300 Mr. Zhang Xianzhi 300 — — — 300 Sub-total 1,500 — — — 1,500 Name of supervisor Mr. Ye Xiangdong — — — — — Mr. Mu Xuan — — — — — Ms. Zhang Mengjiao — — — — — Mr. Gu Jianguo — — — — — Ms. Zhang Xiaojun — 150 529 131 810 Mr. Zhang Xiancheng — 154 529 131 814 Sub-total — 304 1,058 262 1,624 Total 1,500 304 1,058 262 3,124 37 Directors’, supervisors’ and senior management’s emoluments (continued) (a) Pre-tax benefits and social insurance of directors and supervisors (continued) The remuneration of every director and supervisor of the Company for the year ended 31 December 2018 is set out below: Fees Basic salaries Performance salaries Pension Total Name of director Mr. Shu Yinbiao — — — — — Mr. Cao Peixi — — — — — Mr. Liu Guoyue — — — — — Mr. Fan Xiaxia — — — — — Mr. Huang Jian — — — — — Mr. Wang Yongxiang — — — — — Mr. Mi Dabin — — — — — Mr. Guo Hongbo — — — — — Mr. Cheng Heng — — — — — Mr. Lin Chong — — — — — Mr. Yue Heng 74 — — — 74 Mr. Xu Mengzhou 74 — — — 74 Mr. Liu Jizhen 74 — — — 74 Mr. Xu Haifeng 74 — — — 74 Mr. Zhang Xianzhi 74 — — — 74 Sub-total 370 — 370 Name of supervisor Mr. Ye Xiangdong — — — — — Mr. Mu Xuan — — — — — Ms. Zhang Mengjiao — — — — — Mr. Gu Jianguo — — — — — Ms. Zhang Xiaojun — 154 476 130 760 Mr. Zhu Daqing — 66 250 63 379 Mr. Zhang Xiancheng — 36 87 22 145 Sub-total — 256 813 215 1,284 Total 370 256 813 215 1,654 1 Appointed on 5 March 2020 2 Appointed on 16 June 2020 3 Appointed on 22 December 2020 4 Appointed on 30 January 2019 and resigned on 5 March 2020 5 Resigned on 16 June 2020 6 Resigned on 22 December 2020 7 Resigned on 30 January 2019 8 Remuneration for the whole year ended 31 December 2020 37 Directors’, supervisors’ and senior management’s emoluments (continued) (a) Pre-tax benefits and social insurance of directors and supervisors (continued) During the year, no option was granted to the directors or the supervisors (2019 and 2018: nil). During the year, no emolument was paid to the directors or the supervisors (including the five highest paid employees) as an inducement to join or upon joining the Company or as compensation for loss of office (2019 and 2018: nil). No director or supervisor had waived or agreed to waive any emoluments during the years 2020, 2019 and 2018. (b) Five highest paid individuals The five individuals whose emoluments were the highest in the Group for the year included two directors (2019 and 2018: no director). Directors emoluments are reflected in the analysis presented above. The emoluments payable to all the three (2019: five; 2018: five) individuals during the year (within the range of nil to RMB1.033 million) are as follows: For the year ended 31 December 2020 2019 2018 Basic salaries 552 1,578 1,500 Performance bonuses 2,167 2,329 2,100 Pension 376 695 679 Total 3,095 4,602 4,279 |
Commitments
Commitments | 12 Months Ended |
Dec. 31, 2020 | |
Commitments | |
Commitments | 38 Commitments (a) Capital commitments Capital commitments mainly relate to the construction of new power projects, certain ancillary facilities and renovation projects for existing power plants. Details of such commitments are as follows: As at 31 December 2020 2019 Contracted, but not provided 35,652,079 42,634,992 As at 31 December 2020, the commitments to make capital contributions to a Group’s joint venture are as follows: As at 31 December 2020 2019 A joint venture of the Group — 31,116 38 Commitments (continued) (b) Fuel purchase commitments The Group has entered into various long-term fuel supply agreements with various suppliers in securing fuel supply for various periods. All the agreements require minimum, maximum or forecasted volume purchases and subject to certain termination provisions. Related purchase commitments are as follows: As at 31 December 2020 Periods Purchase quantities Estimated unit costs (RMB) A government-related enterprise 2021-2039 2.8 million m 3 2.37/m 3 A government-related enterprise 2021-2023 991 million m 3 2.18/m 3 2021-2023 541 million m 3 2.52/m 3 2021-2023 450 million m 3 2.11/m 3 A government-related enterprise 2021-2026 222 million m 3 2.22/m 3 2021 40 million m 3 1.86/m 3 Other suppliers 2021 201.5-251.5 BBtu**/day approximately48,000/BBtu 2022 205.5-255.5 BBtu**/day approximately47,000/BBtu 2023 81.5-247.5 BBtu**/day approximately42,000/BBtu 2024-2028 42.4-81.5 BBtu**/day approximately38,000/BBtu 2029 42.4 BBtu**/day approximately28,000/BBtu 38 Commitments (continued) (b) Fuel purchase commitments (continued) As at 31 December 2019 Periods Purchase quantities Estimated unit costs (RMB) A government-related enterprise 2020-2039 2.8 million m 3 2.88 / m 3 A government-related enterprise 2020-2023 991 million m 3 2.31 / m 3 2020-2023 541 million m 3 2.19 / m 3 2020-2023 450 million m 3 2.25 / m 3 A government-related enterprise 2020-2026 200 million m 3 2.60 / m 3 Other suppliers 2020-2021 201.5-251.5BBtu**/day approximately 47,000/BBtu 2022 205.5-255.5BBtu**/day approximately 45,000/BBtu 2023 81.5-247.5 BBtu**/day approximately 41,000/BBtu 2024-2028 42.4-81.5 BBtu**/day approximately 37,000/BBtu 2029 42.4 BBtu**/day approximately 31,000/BBtu * The quantities represent the maximum volume, while others represent the minimum or forecasted volume if not specified. ** BBtu: Billion British Thermal Unit |
Business combination
Business combination | 12 Months Ended |
Dec. 31, 2020 | |
Business combination | |
Business combination | 39 Business combination Business combination in 2020 (a) Acquisition of Taifeng Renewable Energy On 30 June 2020, the Group's subsidiary, Shandong Power, acquired an 82.23% interest in Taifeng Renewable Energy from Huaneng Taishan Power Co., Ltd. ("Taishan Power"), a subsidiary of the Huaneng Group. Taifeng Renewable Energy is mainly engaged in power generation and sales business. The acquisition was made as part of the Group's strategy to increase the Group's generation capacity in renewable energy. The total cash consideration for the acquisition was RMB 228 million, with RMB 205 million paid at the acquisition date and the remaining RMB 23 million unpaid as at 31 December 2020. The fair values of the identifiable assets and liabilities of Taifeng Renewable Energy as at the date of acquisition were as follows: Fair value recognized Notes on acquisition Assets Property, plant and equipment 722,076 Right-of-use assets 91,229 Other non-current assets 1,401 Other receivables and assets 60,038 Accounts receivable 153,644 Bank balances and cash 6,315 1,034,703 Liabilities Long-term loans (589,000) Lease liabilities (90,370) Deferred income tax liabilities 30 (9,213) Accounts payable and other liabilities (42,980) Taxes payable (20) Current portion of long-term loans (31,200) Current portion of lease liabilities (1,225) (764,008) Total identifiable net assets at fair value 270,695 Non-controlling interests (48,103) Goodwill on acquisition 14 5,828 Satisfied by cash 228,420 39 Business combination (continued) Business combination in 2020 (continued) (a) Goodwill arising from the acquisition is attributable to the synergies expected to arise after the acquisition of the equity interests in the subsidiary stated above. None of the goodwill recognized is expected to be deductible for income tax purposes. The Group measured the acquired lease liabilities using the present value of the remaining lease payments at the date of acquisition. The right-of-use assets were measured at an amount equal to the lease liabilities and adjusted to reflect the favorable terms of the leases relative to market terms. An analysis of the cash flows in respect of the acquisition of a subsidiary is as follows: Acquisition date Cash consideration (228,420) Consideration to be paid (Note 26) 22,842 Cash and bank balances acquired 6,315 Net outflow of cash and cash equivalents included in cash flows from investing activities (199,263) Transaction costs of the acquisition included in cash flows from operating activities — (199,263) Since the acquisition, Taifeng Renewable Energy contributed RMB42,509 thousand to the Group’s revenue and RMB1,244 thousand to the consolidated profit for the year ended 31 December 2020. Had the combination taken place at the beginning of the year, the revenue from continuing operations of the Group and the profit of the Group for the year would have been RMB169,494 million and RMB2,618 million, respectively. (b) Acquisition of Tianjin Longye On 8 April 2020, the Company entered into an equity transfer agreement with Tianjin Yuan Rong Investment Management Co., Ltd., a subsidiary of the Huaneng Group, to acquire a 100% interest in Tianjin Longye. Tianjin Longye is mainly engaged in power generation and sales business. The acquisition was made as part of the Group's strategy to increase the Group's generation capacity in renewable energy. The acquisition was completed on 31 August 2020 (the acquisition date), when the Company obtained the control over Tianjin Longye. The total cash consideration for the acquisition was RMB8.55 million and was fully paid at the acquisition date. 39 Business combination (continued) Business combination in 2020 (continued) (b) The fair values of the identifiable assets and liabilities of Tianjin Longye as at the date of acquisition were as follows: Fair value recognized on acquisition Assets Property, plant and equipment 39,130 Other receivables and assets 3,403 Accounts receivable 1,494 Bank balances and cash 1,657 45,684 Liabilities Accounts payable and other liabilities (36,390) (36,390) Total identifiable net assets at fair value 9,294 Gain on bargain purchase recognized in others in the consolidated statement of comprehensive income (741) Satisfied by cash 8,553 An analysis of the cash flows in respect of the acquisition of a subsidiary is as follows: Acquisition date Cash consideration (8,553) Cash and bank balances acquired 1,657 Net outflow of cash and cash equivalents included in cash flows from investing activities (6,896) Transaction costs of the acquisition included in cash flows from operating activities — (6,896) Since the acquisition, Tianjin Longye contributed RMB1,652 thousand to the Group’s revenue and RMB173 thousand to the consolidated profit for the year ended 31 December 2020. 39 Business combination (continued) Business combination in 2020 (continued) (b) Had the combination taken place at the beginning of the year, the revenue from continuing operations of the Group and the profit of the Group for the year would have been RMB169,450 million and RMB2,611 million, respectively. (c) Acquisition of a set of activities and assets of Huaneng Laizhou Wind Power Co., Ltd. (Laizhou Wind Power) On 19 November 2020, Shandong Power entered into an acquisition agreement with Laizhou Wind Power to acquire a set of its activities and assets. Laizhou Wind Power is mainly engaged in power generation and sales business. The acquisition was made as part of the Group’s strategy to increase the Group's generation capacity in renewable energy. The acquisition was completed on 30 November 2020 (the acquisition date), when Shandong Power obtained the control over the assets and personnel. The total cash consideration for the acquisition was RMB255 thousand and was fully paid at the acquisition date. The fair values of the identifiable assets and liabilities of the business as at the date of acquisition were as follows: Fair value recognized Note on acquisition Assets Property, plant and equipment 231,278 Right-of-use assets 31,643 Other non-current assets 241 Other receivables and assets 205 Accounts receivable 44,812 308,179 Liabilities Long-term loans (258,000) Deferred income tax liabilities (6,787) Accounts payable and other liabilities (49,924) (314,711) Total identifiable net assets at fair value (6,532) Goodwill on acquisition 14 6,787 Satisfied by cash 255 39 Business combination (continued) Business combination in 2020 (continued) (c ) Goodwill arising from the acquisition is attributable to the synergies expected to arise after the acquisition of the business stated above. None of the goodwill recognized is expected to be deductible for income tax purposes. An analysis of the cash flows in respect of the acquisition of the business is as follows: Acquisition date Cash consideration (255) Cash and bank balances acquired — Net outflow of cash and cash equivalents included in cash flows from investing activities (255) Transaction costs of the acquisition included in cash flows from operating activities — (255) Since the acquisition, the acquired business contributed RMB9,325 thousand to the Group’s revenue and RMB3,547 thousand to the consolidated profit for the year ended 31 December 2020. Had the combination taken place at the beginning of the year, the revenue from continuing operations of the Group and the profit of the Group for the year would have been RMB169,480 million and RMB2,617 million, respectively. Business combination in 2019 There was no business combination in 2019. Business combination in 2018 (a) Acquisition from Taishan Power On 31 July 2018, Shandong Power entered into an equity transfer agreement with Taishan Power to acquire: ● 80% equity interests of Laizhou Wind Power ● 80% equity interests of Shandong Laiwu Thermal Power ● 75% equity interests of Shandong Liaocheng Thermal Power These entities are all mainly engaged in power generation and sales business. The acquisition was completed on 1 August 2018 (the acquisition date), when Shandong Power obtained the control over above mentioned entities through the corresponding voting rights obtained and consolidated them in its financial statement. The acquisition is expected to increase its generation capacity in relevant areas. The acquired business contributed revenue of RMB743 million and net loss of RMB92 million to the Company and its subsidiaries for the period from the date of acquisition to 31 December 2018. 39 Business combination (continued) Business combination in 2018 (continued) (a) The total consideration is RMB1.173 billion after certain adjustments made in accordance with the equity transfer agreements, which has been settled in cash by 31 December 2018. Acquisition date Total consideration 1,172,508 Non-controlling interests 276,713 Less: Fair value of total identifiable net assets 1,218,003 Goodwill 231,218 Total consideration 1,172,508 Less: Bank balances and cash of acquirees 122,699 Cash consideration paid for acquisition of subsidiaries, net of cash acquired 1,049,809 Goodwill arising from the acquisitions is attributable to the synergies expected to arise after the acquisitions of the equity interests in the subsidiaries stated above. None of the goodwill recognized is expected to be deductible for tax purposes. The Company incurred acquisition related cost amounted RMB0.96 million for financial advisory, legal and audit fees. 39 Business combination (continued) Business combination in 2018 (continued) (a) The assets and liabilities arising from the acquisitions of above entities are as follows: Shandong Shandong Laiwu Liaocheng Laizhou Wind Thermal Thermal Power Power Power Fair value Fair value Fair value Assets Property, plant and equipment 568,177 1,888,021 736,577 Land use rights 30,232 67,245 301,114 Other non-current assets 2,007 5,124 836 Inventories 131 2,354 22,225 Other receivables and assets 4,461 12,277 8,622 Accounts receivable 47,274 137,573 55,246 Bank balances and cash 10,486 57,558 54,655 662,768 2,170,152 1,179,275 Liabilities Long-term loans (115,800) (379,254) (200,000) Deferred income tax liabilities — (31,588) (39,414) Other non-current liabilities — (26,235) (118,628) Accounts payable and other liabilities (62,059) (162,237) (122,774) Taxes payables (905) (1,686) (2,215) Short-term loans (150,000) (550,000) (34,000) Current portion of long-term loans (334,791) (462,606) — (663,555) (1,613,606) (517,031) Total identifiable net assets at fair value (787) 556,546 662,244 The fair value of the identifiable assets and liabilities acquired in the acquisition were assessed based on independent valuation prepared by external valuers. 39 Business combination (continued) Business combination in 2018 (continued) (b) A subsidiary transferred from a joint venture The fair value of the identifiable assets and liabilities acquired in the acquisition were assessed based on independent valuation prepared by external valuers. Hong Kong Energy, which has two wholly-owned subsidiaries engaged in electricity production, sales and other relevant activities in Pakistan, was previously a joint venture established by a subsidiary of the Company and the other shareholder with 50%:50% equity interests. Previously, according to the terms in articles of association, Hong Kong Energy was jointly controlled by the two shareholders and therefore it was accounted for using equity method. In December 2018, the other shareholder signed a voting in concert agreement whereby it agreed to vote the same in respect of significant financial and operating decisions made by Hong Kong Energy and its subsidiaries. As a result, Hong Kong Energy was included in the consolidated financial statements since then (acquisition date: 31 December 2018). Acquisition date Non-controlling interests 1,314,040 Fair value of pre-existing interest in Hong Kong Energy 1,314,040 Less: Fair value of total identifiable net assets 2,628,080 Goodwill — 39 Business combination (continued) Business combination in 2018 (continued) (b) A subsidiary transferred from a joint venture (continued) The identifiable assets and liabilities of Hong Kong Energy as at the acquisition date are as follows: Fair value recognized on acquisition Assets Property, plant and equipment 275,889 Deferred income tax assets 2,919 Other non-current assets 10,205,870 Inventories 372,248 Other receivables and assets 1,030,858 Accounts receivable 1,523,409 Bank balances and cash 374,964 13,786,157 Liabilities Long-term loans (8,200,739) Other non-current liabilities (210,142) Accounts payable and other liabilities (675,009) Taxes payable (1,330) Short-term loans (1,560,108) Current portion of long-term loans (510,749) (11,158,077) Total identifiable net assets at fair value 2,628,080 |
Non-controlling interests
Non-controlling interests | 12 Months Ended |
Dec. 31, 2020 | |
Non-controlling interests | |
Non-controlling interests | 40 Non-controlling interests The following table summarises the information relating to each subsidiary of the Group that has material non-controlling interests (“NCI”): Other individually Qinbei Beijing Luohuang Weihai Jinling Yueyang Shidongkou Yangliuqing Shandong immaterial Power Co-generation Power Power Power Power Power Co-generation Power subsidiaries Total NCI percentage 40 % 59 % 40 % 40 % 40 % 45 % 50 % 45 % 20 % 31 December 2020 Non-current assets 8,218,373 5,849,233 3,316,087 3,709,929 4,088,251 4,074,135 2,978,015 2,449,103 52,936,475 Current assets 1,334,506 1,125,151 1,241,707 637,757 576,992 1,264,211 418,832 610,494 11,381,268 Non-current liabilities (1,355,645) (68,685) (189,516) (119,088) (694,913) (659,387) (529,136) (197,615) (25,501,838) Current liabilities (5,026,519) (1,232,536) (1,872,962) (1,463,315) (1,627,035) (2,112,026) (1,069,893) (842,820) (26,380,853) Net assets 3,170,715 5,673,163 2,495,316 2,765,283 2,343,295 2,566,933 1,797,818 2,019,162 12,435,052 Carrying amount of NCI 1,282,201 3,347,198 977,108 1,106,113 937,340 1,171,281 898,909 907,727 4,596,984 6,545,414 21,770,275 Revenue 4,472,279 5,607,020 2,703,231 2,775,206 3,168,617 3,591,193 2,178,367 1,846,175 26,904,777 Net (loss)/profit (78,226) 505,190 77,521 83,607 315,837 294,258 355,890 32,950 (4,014,417) Total comprehensive (loss)/ income (78,226) 505,190 77,521 83,607 315,837 294,258 355,890 32,950 (4,313,258) (Loss)/profit allocated to NCI (31,290) 298,062 31,008 33,443 126,335 132,416 177,945 14,828 (802,883) 252,848 232,712 Other comprehensive loss allocated to NCI - — — — — — — — (59,769) (132,889) (192,658) Cash flows from operating activities 1,302,559 1,037,909 575,857 608,917 706,320 1,151,257 736,958 329,025 7,836,378 Cash flows from investment activities (234,425) (421,456) (137,178) (61,691) (100,610) 13,049 (38,695) (80,191) (4,652,029) Cash flows from financing activities (1,029,306) (704,705) (403,026) (519,433) (645,027) (714,838) (719,372) (256,335) (3,179,760) Net increase/(decrease) in cash and cash equivalents 38,828 (88,252) 35,653 27,793 (39,317) 449,468 (21,109) (7,501) 4,589 Dividends paid to NCI — 376,787 40,000 — 95,666 185,661 113,705 — 101,296 Other individually Qinbei Beijing Luohuang Weihai Jinling Yueyang Shidongkou Yangliuqing Shandong immaterial Power Co-generation Power Power Power Power Power Co-generation Power subsidiaries Total NCI percentage 40 % 59 % 40 % 40 % 40 % 45 % 50 % 45 % 20 % 31 December 2019 Non-current assets 9,086,939 6,264,852 3,649,432 3,981,753 4,432,195 4,320,232 3,255,810 2,421,307 57,881,917 Current assets 1,317,076 852,059 1,134,889 629,370 459,849 1,426,960 465,772 721,617 11,225,955 Non-current liabilities (2,249,675) (53,494) (205,085) (34,495) (1,136,398) (701,135) (488,350) (378,478) (29,027,404) Current liabilities (4,905,399) (1,257,150) (2,061,440) (1,894,952) (1,489,022) (2,368,204) (1,563,894) (778,235) (23,441,038) Net assets 3,248,941 5,806,267 2,517,796 2,681,676 2,266,624 2,677,853 1,669,338 1,986,211 16,639,430 Carrying amount of NCI 1,313,492 3,425,774 986,100 1,072,670 906,671 1,220,746 834,669 892,899 5,591,178 5,331,112 21,575,311 Revenue 4,787,221 5,579,382 2,833,807 3,045,352 3,099,014 4,005,328 2,055,168 1,945,841 28,274,364 Net profit/(loss) 30,270 705,311 64,093 193,754 265,457 453,869 216,595 59,733 (430,222) Total comprehensive income/(loss) 30,270 705,311 64,093 193,754 265,457 453,869 216,595 59,733 (675,666) Profit/(loss) allocated to NCI 12,108 416,133 25,637 77,502 106,183 204,241 108,298 26,880 (86,044) (549,078) 341,860 Other comprehensive loss allocated to NCI — — — — — — — — (49,089) (111,692) (160,781) Cash flows from operating activities 667,432 1,623,975 360,226 273,607 821,975 689,723 655,910 171,531 7,066,137 Cash flows from investment activities (205,703) (273,374) (101,279) (95,699) (128,541) (163,584) (86,427) (16,465) (2,787,419) Cash flows from financing activities (613,468) (1,329,614) (247,546) (260,953) (792,266) (503,852) (582,452) (167,846) (2,673,351) Net (decrease)/increase in cash and cash equivalents (166,994) 20,987 11,401 (94,821) (98,832) 22,287 (12,969) (12,780) (414,221) Dividends paid to NCI — 625,886 — 124,000 130,566 45,000 65,000 48,585 84,156 40 Non-controlling interests (continued) Other individually Beijing Co- Luohuang Yueyang Shidongkou Yangliuqing Shandong immaterial Qinbei Power generation Power Weihai Power Jinling Power Power Power Co-generation Power subsidiaries Total NCI percentage 40 % 59 % 40 % 40 % 40 % 45 % 50 % 45 % 20 % 31 December 2018 Revenue 5,293,403 5,704,966 2,819,106 3,587,416 3,346,779 4,003,821 2,109,785 2,077,570 24,202,739 Net (loss)/profit (198,026) 757,268 18,811 253,552 200,269 118,342 131,129 69,477 282,198 Total comprehensive (loss)/ income (198,026) 757,268 18,811 253,552 200,269 118,342 131,129 69,477 327,958 (Loss)/ Profit allocated to NCI (79,210) 446,788 7,524 101,421 80,108 53,254 65,564 31,265 (10,780) (100,395) 595,539 Other comprehensive income/ (loss) allocated to NCI — — — — — — — — 9,152 (33,707) (24,555) Cash flow from operating activities 954,820 1,321,867 192,608 473,349 711,800 412,413 527,783 210,558 4,469,849 Cash flow from investment activities (503) (316,754) (201,012) (98,420) (52,701) (106,596) (45,045) (258,605) (3,628,406) Cash flow from financing activities (843,094) (904,822) (5,288) (306,054) (570,838) (305,872) (472,543) 63,762 (162,007) Net increase/(decrease) in cash and cash equivalents 111,223 101,482 (13,692) 68,875 88,261 (55) 10,195 15,719 679,471 Dividends paid to NCI 165,965 460,262 — 140,000 95,979 46,790 51,870 — 42,506 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
Leases | |
Leases | 41 Leases The Group as a lessee (a) Right-of-use assets The carrying Right-of-use assets Electric Trans- utility plant portation Land use Buildings in service facilities rights* Others Total As at 1 January 2020 143,314 3,800,493 206,421 12,553,477 464,367 17,168,072 Additions 255,030 1,453,919 — 621,787 69,903 2,400,639 Business Combination (Note 39) — — — 122,872 — 122,872 Depreciation charge (97,483) (228,539) (7,021) (431,476) (48,705) (813,224) Disposals/write-off — (7,589) — (4,241) — (11,830) Early termination (8,570) (497,815) — — (216) (506,601) Reclassification — (26,698) — 28,606 (1,908) — Currency translation differences (1,396) (3,302) (18,683) (44,473) — (67,854) As at 31 December 2020 290,895 4,490,469 180,717 12,846,552 483,441 18,292,074 Right-of-use assets Electric utility Trans- plant in portation Land use Buildings service facilities rights* Others Total As at 1 January 2019 320,591 1,387,258 826 11,810,054 339,501 13,858,230 Additions 109,321 2,643,363 — 1,270,033 477,353 4,500,070 Depreciation charge (21,983) (233,218) (16,967) (496,464) (12,986) (781,618) Disposals/write-off — — — (431,813) — (431,813) Reclassification (265,167) — 229,292 375,376 (339,501) — Currency translation differences 552 3,090 (6,730) 26,291 — 23,203 As at 31 December 2019 143,314 3,800,493 206,421 12,553,477 464,367 17,168,072 * Land use rights without ownership certificates As at 31 December 2020, the Group were in the process of applying for the ownership certificates for certain land use rights with an aggregate net book value of RMB161 million (2019: RMB350 million). Management is of the opinion that the Group is entitled to the lawful and valid occupation and use of the abovementioned land. There have been no litigations, claims or assessments against the Group for compensation with respect to the use of these land use rights as at the date of approval of these financial statements. 41 Leases (continued) The Group as a lessee (continued) (b) Lease liabilities The carrying amount of lease liabilities and the movements during the year are as follows: As at 31 December 2020 2019 Carrying amount at 1 January 4,712,670 2,216,792 New leases 2,201,755 2,835,993 Business Combination (Note 39) 91,595 — Accretion of interest recognized during the year 275,810 171,573 Currency translation differences (66,099) (23,673) Payments (1,385,143) (488,015) Early termination (348,242) — Carrying amount at 31 December 5,482,346 4,712,670 Analyzed into: Current portion 1,676,711 432,745 Non-current portion 3,805,635 4,279,925 The maturity analysis of lease liabilities is as follows: As at 31 December 2020 2019 Within 1 year 1,676,711 432,745 After 1 year but within 2 years 464,403 1,323,826 After 2 years but within 3 years 269,060 332,986 After 3 years 3,072,172 2,623,113 Total 5,482,346 4,712,670 41 Leases (continued) The Group as a lessee (continued) (c) The amounts recognized in profit or loss in relation to leases are as follows: As at 31 December 2020 2019 Interest on lease liabilities 202,264 171,573 Depreciation charge of right-of-use assets 785,518 734,827 Expense relating to short-term leases 103,817 231,651 Expense relating to leases of low-value assets 2,214 2,488 Total amount recognized in profit 1,093,813 1,140,539 (d) Extension and termination options The Group has several lease contracts that include extension and termination options. These options are negotiated by management to provide flexibility in managing the leased-asset portfolio and they are aligned with the Group’s business needs. As of 31 December 2020, there were neither any extension options that the Group does not expect to exercise nor any significant termination options that the Group expects to exercise. (e) Variable lease payments The Group does not have variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. (f) The total cash outflow for leases is disclosed in note 34 to these financial statements. The Group as a lessor (a) Finance lease The Group’s finance lease is mainly relating to Ruyi Pakistan Energy, SinoSing Power and Shandong Maintenance Company. Ruyi Pakistan Energy entered into the power purchase agreement with CPPA-G to sell all of the electricity produced with a regulated tariff mechanism approved by the Pakistan National Electric Power Regulatory Authority. In accordance with the power purchase agreement and tariff mechanism, almost all the risks and rewards in relation to the power assets were in substance transferred to CPPA-G and therefore the assets were accounted for as a finance lease to CPPA-G. SinoSing Power’s subsidiary Tuas Group entered into two build-to-suit agreements with third parties which involve sale and leaseback arrangements and the provision of operation maintenance services. 41 Leases (continued) The Group as a lessor (continued) (a) Finance lease (continued) Shandong Maintenance Company entered into the Energy Management Contract with Huangtai #8 Power Plant to provide energy saving equipment construction service. Pursuant to the agreement, all the risk and rewards in relation to the energy saving equipment were in substance transferred to Huangtai#8 Power Plant as the benefit could be reliably estimated during the contract period. Total finance lease income recognized by the Group for the year ended 31 December 2020 was RMB1,544 million (2019: RMB1,711 million). As at 31 December 2020, the maturity analysis of the Group’s finance lease receivables is as follows: As at 31 December 2020 2019 Within 1 year 1,924,763 2,172,707 After 1 year but within 2 years 1,925,641 2,156,047 After 2 years but within 3 years 1,928,125 2,146,481 After 3 years but within 4 years 1,939,174 2,132,394 After 4 years but within 5 years 1,969,470 2,163,914 After 5 years 17,921,037 21,184,829 Total undiscounted finance lease payments 27,608,210 31,956,372 Unearned finance income (17,694,886) (20,949,750) Allowance for ECL (2,925) (3,086) Total finance lease receivables as at 31 December 9,910,399 11,003,536 (b) Operating lease The Group leases certain property, plant and equipment under operating lease arrangements. Rental income recognized by the Group for the year ended 31 December 2020 was RMB86 million (2019: RMB140 million). 41 Leases (continued) The Group as a lessor (continued) (b) Operating lease (continued) As at 31 December 2019 and 2020, the undiscounted lease payments receivable by the Group in future periods under non-cancellable operating leases with its tenants are as follows: As at 31 December 2020 2019 Within 1 year 11,652 28,143 After 1 year but within 2 years 3,701 27,867 After 2 years but within 3 years 2,161 27,695 After 3 years but within 4 years 1,021 27,617 After 4 years but within 5 years 525 27,645 After 5 years 3,020 16,974 Total 22,080 155,941 |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent events | |
Subsequent events | 42 Subsequent events Issuance of green medium-term notes In February 2021, the Company completed an issuance of the first tranche of the green medium-term notes (carbon neutral bonds) with a par value of RMB100 and a total face value of RMB1 billion bearing an annual interest rate of 3.45% which will mature in 2024. Major Event On 12 March 2021, No.2 generation unit of Nanjing Power Plant, a branch of the Company, broke down and caught fire, igniting flammable materials. After clean-up work and due enquiries with personnel at the scene on that day, it was confirmed that there were no casualties. The Group are organizing rescue, clean-up work and dealing with the aftermath. These financial statements were approved for issue by the Board of Directors on 23 March 2021 and were signed on its behalf. |
Principal accounting policies (
Principal accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Principal accounting policies | |
Basis of preparation | (a) Basis of preparation These financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRSs”) as issued by the International Accounting Standards Board (the “IASB”) and the disclosure requirements of the Hong Kong Companies Ordinance. These financial statements have been prepared under the historical cost convention, except for the financial assets at fair value through other comprehensive income, financial assets at fair value through profit or loss and derivative financial assets and liabilities. The preparation of financial statements in conformity with IFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 4. As at 31 December 2020, the Group had net current liabilities of approximately RMB87.91 billion, and a portion of the Group’s funding requirements for capital expenditures were satisfied by short-term financing. Taking into consideration the undrawn available banking facilities of approximately RMB305.1 billion as at 31 December 2020, the Group is expected to refinance certain of its short-term loans and bonds and also to consider alternative sources of financing, where applicable and when needed. Therefore, the directors of the Company are of the opinion that the Group will be able to meet its liabilities as and when they fall due within the next twelve months and accordingly, these consolidated financial statements are prepared on a going concern basis. The IASB has issued certain new and revised IFRSs that are first effective or available for early adoption for the current accounting period of the Group. Note 2(b) provides information on any changes in accounting policies resulting from initial application of these developments to the extent that they are relevant to the Group for the current and prior accounting periods reflected in these financial statements. |
Changes in accounting policies | (b) Changes in accounting policies The Group has adopted the Conceptual Framework for Financial Reporting 2018 and the following revised IFRSs for the first time for the current year's consolidated financial statements. Amendments to IFRS 3 Definition of a Business Amendments to IFRS 9, IAS 39 and IFRS 7 Interest Rate Benchmark Reform Amendment to IFRS 16 Covid-19-Related Rent Concessions (early adopted) Amendments to IAS 1 and IAS 8 Definition of Material The nature and the impact of the Conceptual Framework for Financial Reporting 2018 and the revised IFRSs are described below: (i) Conceptual Framework for Financial Reporting 2018 Conceptual Framework for Financial Reporting 2018 (the “Conceptual Framework”) sets out a comprehensive set of concepts for financial reporting and standard setting, and provides guidance for preparers of financial statements in developing consistent accounting policies and assistance to all parties to understand and interpret the standards. The Conceptual Framework includes new chapters on measurement and reporting financial performance, new guidance on the derecognition of assets and liabilities, and updated definitions and recognition criteria for assets and liabilities. It also clarifies the roles of stewardship, prudence and measurement uncertainty in financial reporting. The Conceptual Framework is not a standard, and none of the concepts contained therein override the concepts or requirements in any standard. The Conceptual Framework did not have any significant impact on the financial position and performance of the Group. (ii) Amendments to IFRS 3 Definition of a Business Amendments to IFRS 3 clarify and provide additional guidance on the definition of a business. The amendments clarify that for an integrated set of activities and assets to be considered a business, it must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. A business can exist without including all of the inputs and processes needed to create outputs. The amendments remove the assessment of whether market participants are capable of acquiring the business and continue to produce outputs. Instead, the focus is on whether acquired inputs and acquired substantive processes together significantly contribute to the ability to create outputs. The amendments have also narrowed the definition of outputs to focus on goods or services provided to customers, investment income or other income from ordinary activities. Furthermore, the amendments provide guidance to assess whether an acquired process is substantive and introduce an optional fair value concentration test to permit a simplified assessment of whether an acquired set of activities and assets is not a business. The Group has applied the amendments prospectively to transactions or other events that occurred on or after 1 January 2020. The amendments did not have any impact on the financial position and performance of the Group. 2 Principal accounting policies (continued) (b) Changes in accounting policies (continued) (iii) Amendments to IFRS 9, IAS 39 and IFRS 7 Interest Rate Benchmark Reform Amendments to IFRS 9, IAS 39 and IFRS 7 address issues affecting financial reporting in the period before the replacement of an existing interest rate benchmark with an alternative risk-free rate (“RFR”). The amendments provide temporary reliefs which enable hedge accounting to continue during the period of uncertainty before the introduction of the alternative RFR. In addition, the amendments require companies to provide additional information to investors about their hedging relationships which are directly affected by these uncertainties. The amendments did not have any significant impact on the financial position and performance of the Group. (iv) Amendment to IFRS 16 Covid-19-Related Rent Concessions (early adopted) Amendment to IFRS 16 provides a practical expedient for lessees to elect not to apply lease modification accounting for rent concessions arising as a direct consequence of the covid-19 pandemic. The practical expedient applies only to rent concessions occurring as a direct consequence of the pandemic and only if (i) the change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change; (ii) any reduction in lease payments affects only payments originally due on or before 30 June 2021; and (iii) there is no substantive change to other terms and conditions of the lease. The amendment is effective for annual periods beginning on or after 1 June 2020 with earlier application permitted and shall be applied retrospectively. The amendment did not have any impact on the financial position and performance of the Group as there were no lease payments reduced or waived by the lessors as a result of the covid-19 pandemic during the year. (v) Amendments to IAS 1 and IAS 8 Definition of Material Amendments to IAS 1 and IAS 8 provide a new definition of material. The new definition states that information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general-purpose financial statements make on the basis of those financial statements. The amendments clarify that materiality will depend on the nature or magnitude of information, or both. The amendments did not have any significant impact on the financial position and performance of the Group. |
Consolidation | (c) Consolidation The consolidated financial statements include the financial statements of the Company and all of its subsidiaries. Subsidiaries are investees over which the Group has the power to exercise control. The Group controls an entity when it is exposed, or has rights to variable returns from their involvement with the entity and has the ability to affect those returns through their power over the entity. In assessing whether the Group has power, only substantive rights (held by the Group and other parties) are considered. When the Group has, directly or indirectly, less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including: (a) the contractual arrangement with the other vote holders of the investee; (b) rights arising from other contractual arrangements; and (c) the Group’s voting rights and potential voting rights. 2 Principal accounting policies (continued) (c) Consolidation (continued) When there is any inconsistency on the accounting policies or financial period adopted between subsidiaries and the Company, the financial statements of subsidiaries are adjusted according to the accounting policies or financial period adopted by the Company. Subsidiaries are consolidated from the date when control is transferred to the Group. They are de-consolidated from the date when control ceases. Intra-group balances, transactions and cash flows, and any unrealized income and expenses arising from intra-group transactions, are eliminated in full in preparing the consolidated financial statements. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no evidence of impairment. The portion of the shareholders’ equity of the subsidiaries, which is not attributable directly or indirectly to the parent company, is separately presented as non-controlling interests in the shareholders’ equity in the consolidated financial statements. The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control described above. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction. If the Group loses control over a subsidiary, it derecognizes (i) the assets (including goodwill) and liabilities of the subsidiary, (ii) the carrying amount of any non-controlling interest and (iii) the cumulative translation differences recorded in equity; and recognizes (i) the fair value of the consideration received, (ii) the fair value of any investment retained and (iii) any resulting surplus or deficit in profit or loss. The Group’s share of components previously recognized in other comprehensive income is reclassified to profit or loss or retained profits, as appropriate, on the same basis as would be required if the Group had directly disposed of the related assets or liabilities. 2 Principal accounting policies (continued) (c) Consolidation (continued) (i) Business combinations The acquisition method is used to account for the business combinations of the Group (including business combinations under common controls). The consideration transferred for the acquisition of a subsidiary is the fair values of the assets transferred, the liabilities incurred to the former owners of the acquiree and the equity interests issued by the Group. Any contingent consideration is measured at fair value at the date of acquisition. If an obligation to pay contingent consideration that meets the definition of a financial instrument is classified as equity, then it is not remeasured and settlement is accounted for within equity. Otherwise, other contingent consideration is remeasured at fair value at each reporting date and subsequent changes in the fair value of the contingent consideration are recognized in profit or loss. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interests in the acquiree either at fair value or at the non-controlling interest’s proportionate share of the recognized amounts of acquiree’s identifiable net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired is recorded as goodwill (Note 2(k)). If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognized in profit or loss. In a business combination achieved in stages, the acquirer shall remeasure its previously held equity interest in the acquiree at its acquisition-date fair value and recognize the resulting gain or loss, if any, in profit or loss or other comprehensive income, as appropriate. In prior reporting periods, the acquirer may have recognized changes in the value of its equity interest in the acquiree in other comprehensive income. If so, the amount that was recognized in other comprehensive income shall be recognized on the same basis as would be required if the acquirer had directly disposed of the previously held equity interest. The Group determines that it has acquired a business when the acquired set of activities and assets includes an input and a substantive process that together significantly contribute to the ability to create outputs. The Group may elect to apply, or not apply, an optional test (the concentration test) to permit a simplified assessment of whether an acquired set of activities and assets is not a business, and the Group makes such an election separately for each transaction or other event. The concentration test is met if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or group of similar identifiable assets. If the concentration test is met, the set of activities and assets is determined not to be a business and no further assessment is needed. If the concentration test is not met, or if the entity elects not to apply the test, the Group then perform further assessment to determine whether an acquisition meet the minimum requirements to be a business. When an acquisition does not constitute an integrated set of activities and assets that is capable of being conducted and managed for the purpose of providing goods or services to customers, generating investment income (such as dividends or interest) or generating other income from ordinary activities, it is not defined as a business and therefore is identified as an asset acquisition. 2 Principal accounting policies (continued) (c) Consolidation (continued) (ii) Changes in ownership interests in subsidiaries Transactions with non-controlling interests that do not result in loss of control are accounted for as equity transactions – that is, as transactions with the equity owners in their capacity as owners. The difference between fair value of any consideration paid and the relevant share acquired of the carrying value of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity. When the Group loses control of a subsidiary, it is accounted for as a disposal of the entire interest in that subsidiary, with a resulting gain or loss being recognized in profit or loss. Any interest retained in that former subsidiary at the date when control is lost is recognized at fair value and this amount is regarded as the fair value on initial recognition of a financial asset (Note 2(m)) or, when appropriate, the cost on initial recognition of an investment in an associate or joint venture (Note 2(c)(iii)). (iii) Associates and joint ventures Associates are investees over which the Group has significant influence on the financial and operating decisions. A joint venture is an arrangement whereby the Group and other parties contractually agree to share control of the arrangement, and have rights to the net assets of the arrangement. Investments in associates and joint ventures are initially recognized at cost and are subsequently measured using the equity method of accounting, unless it is classified as held for sale (or included in a disposal group that is classified as held for sale). The excess of the initial investment cost over the proportionate share of the fair value of identifiable net assets of investee acquired is included in the initial investment cost (Note 2(k)). Any shortfall of the initial investment cost to the proportionate share of the fair value of identifiable net assets of investee acquired is recognized in the current period profit or loss and long-term investment cost is adjusted accordingly. When applying equity method, the Group adjusts net profit or loss of the investees, including the fair value adjustments on the net identifiable assets of the associates and joint ventures and the adjustments to align with the accounting policies of the Company and the Company’s financial reporting periods. The current period investment income is then recognized based on the proportionate share of the Group in the investees’ net profit or loss. Net losses of investees are recognized to the extent of the carrying value of long-term equity investments and any other constituting long-term equity investments in investees that in substance form part of the investments in the investees. The Group continues to recognize investment losses and provision if they bear additional obligations which meet the recognition criteria. The Group adjusts the carrying amount of the investment and directly recognizes it into related other comprehensive income based on the proportionate share on the movements of the investees’ other comprehensive income. When the investees appropriate profit or declare dividends, the carrying value of long-term equity investments is reduced correspondingly by the proportionate share of the distribution. 2 Principal accounting policies (continued) (c) Consolidation (continued) (iii) The Group determines at each reporting date whether there is any objective evidence that the investment in the associate or the joint venture is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate or the joint venture and its carrying value and recognizes the amount in the consolidated statement of comprehensive income. Profits or losses resulting from transactions between the Group and the associates and joint ventures are recognized in the Group’s financial statements only to the extent of the unrelated third party investor’s interests in the associates and joint ventures. Loss from transactions between the Group and the associates and joint ventures is fully recognized and not eliminated when there is evidence for asset impairment. If an investment in an associate becomes an investment in a joint venture or vice versa, retained interest is not remeasured. Instead, the investment continues to be accounted for under the equity method. Gains and losses arising from dilution of investments in associates and joint ventures are recognized in the consolidated statement of comprehensive income. In the Company’s statement of financial position, investments in associates and joint ventures are stated at cost less provision for impairment losses (Note 2(l)) unless classified as held for sale (or included in a disposal group that is classified as held for sale). Investment income from investments in associates and joint ventures is accounted for by the Company based on dividends received and receivable. In all other cases, when the Group ceases to have significant influence over an associate or joint control over a joint venture, it is accounted for as a disposal of the entire interest in that investee, with a resulting gain or loss being recognized in profit or loss. Any interest retained in that former investee at the date when significant influence or joint control is lost is recognized at fair value and this amount is regarded as the fair value on initial recognition of a financial asset (Note 2(m)). |
Separate financial statements of the Company | (d) Separate financial statements of the Company Investments in subsidiaries are accounted for at cost less impairment unless classified as held for sale (or included in a disposal group that is classified as held for sale). Cost also includes direct attributable costs of investment. Investment income is recognized when the subsidiaries declare dividend. |
Segment reporting | The Group determines the operating segment based on the internal organization structure, management requirement and internal reporting system for purposes of presenting reportable segment information. 2 Principal accounting policies (continued) (e) Segment reporting (continued) An operating segment represents a component of the Group that meets all the conditions below: (i) the component earns revenue and incurs expenses in its daily operating activities; (ii) chief operating decision maker of the Group regularly reviews the operating results of the component in order to make decisions on allocating resources and assessing performance; (iii) the financial position, operating results, cash flows and other related financial information of the component are available. When two or more operating segments exhibit similar economic characteristics and meet certain conditions, the Group combines them as one reportable segment. |
Foreign currency translation | (f) Foreign currency translation (i) Functional and presentation currency Items included in the financial statements of each of the Group are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The consolidated financial statements are presented in Renminbi (“RMB”), which is the Company’s functional and presentation currency. (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the spot exchange rate on the transaction dates. As at the end of reporting period, foreign currency monetary items are translated into functional currency at the spot exchange rate as at the end of reporting period. Exchange differences are directly expensed in current period profit or loss unless they arises from foreign currency loans borrowed for purchasing or construction of qualifying assets which is eligible for capitalization or they arise from monetary items that qualify as hedging instruments in cash flow hedges which are recorded in other comprehensive income to the extent that the hedge is effective. (iii) Foreign subsidiaries The operating results and financial position of the foreign subsidiaries are translated into presentation currency as follows: Asset and liability items in each statement of financial position of foreign operations are translated at the closing rates at the end of reporting period; equity items excluding retained earnings are translated at the spot exchange rates at the date of the transactions. Income and expense items in the statement of comprehensive income of the foreign operations are translated at average exchange rates approximating the rate on transaction dates. All resulting translation differences are recognized in other comprehensive income. The cash flows denominated in foreign currencies and cash flows of overseas subsidiaries are translated at average exchange rates approximating the rates at the dates when cash flows incurred. The effect of the foreign currency translation on the cash and cash equivalents is presented in the statement of cash flows separately. On the disposal of a foreign operation (that is, a disposal of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation, a disposal involving loss of joint control over a joint ventures that includes a foreign operation, or a disposal involving loss of significant influence over an associate that includes a foreign operation), all of the exchange differences accumulated in equity in respect of that operation attributable to the equity holders of the Company are reclassified to profit or loss. 2 Principal accounting policies (continued) (f) Foreign currency translation (continued) In the case of a partial disposal that does not result in the Group losing control over a subsidiary that includes a foreign operation, the proportionate share of accumulated exchange differences is re-attributed to non-controlling interests and are not recognized in profit or loss. For all other partial disposals (that is, reductions in the Group’s ownership interest in associates or joint venture that includes a foreign operation that do not result in the Group losing significant influence or joint control), the proportionate share of the accumulated exchange differences is reclassified to profit or loss. |
Property, plant and equipment | (g) Property, plant and equipment Property, plant and equipment consists of dams, port facilities, buildings, electric utility plant in service, transportation facilities, others and construction-in-progress (“CIP”). Property, plant and equipment acquired or constructed are initially recognized at cost and carried at the net value of cost less accumulated depreciation and accumulated impairment loss, unless classified as held for sale (or included in a disposal group that is classified as held for sale). Cost of CIP comprises construction expenditures, other expenditures necessary for the purpose of preparing the CIP for its intended use, those borrowing costs incurred before the assets are ready for intended use that are eligible for capitalization. CIP is not depreciated until such time as the relevant asset is completed and ready for its intended use. Subsequent costs about property, plant and equipment are included in the asset’s carrying amount only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. Other subsequent expenditures not qualified for capitalization are charged in the current period profit or loss when they are incurred. Depreciation of property, plant and equipment is provided based on book value of the asset less estimated residual value over the estimated useful life using straight-line method. For those impaired property, plant and equipment, depreciation is provided based on book value after deducting impairment provision over the estimated useful life of the asset. The estimated useful lives are as follows: Estimated useful lives Dams 8 – 50 years Port facilities 20 – 40 years Buildings 8 – 30 years Electric utility plant in service 5 – 30 years Transportation facilities 8 – 27 years Others 5 – 14 years Where parts of an item of property, plant and equipment have different useful lives, the cost of the item is allocated on a reasonable basis between the parts and each part is depreciated separately. At the end of each year, the Group reviews the estimated useful lives, residual values and the depreciation method of the property, plant and equipment and make adjustment when necessary. 2 Principal accounting policies (continued) (g) Property, plant and equipment (continued) Property, plant and equipment is derecognized when it is disposed of, or is not expected to bring economic benefit through use or disposal. The amount of disposal proceeds arising from sale, transfer, disposal or write-off of the property, plant and equipment less book value and related tax expenses is recorded in ‘operating expenses – others’ in the statement of comprehensive income. The carrying amount of property, plant and equipment is written down immediately to their recoverable amount when their carrying amount is greater than their recoverable amount (Note 2(l)). |
Investment property | (h) Investment property Investment properties are land and/or buildings which are owned or held under a leasehold interest (Note 2(ab), including the leasehold property held as a right-of-use asset) to earn rental income and/or for capital appreciation. These include land held for a currently undetermined future use and property that is being constructed or developed for future use as investment property. Investment properties are stated at cost. Rental income from investment properties is accounted for as described in Note 2(z)(v). |
Power generation licenses | (i) Power generation licenses The Group acquired the power generation license as part of the business combination with Tuas Power Ltd. (“Tuas Power”). The power generation license is initially recognized at fair value at the acquisition date. The license has an indefinite useful life and is not amortized. The assessment that the license has an indefinite useful life is based on the expected renewal of power generation license without significant restriction and cost, together with the consideration on related future cash flows generated and the expectation of continuous operations. It is tested annually for impairment and carried at cost less accumulated impairment loss. The useful life of the power generation license is reviewed by the Group each financial period to determine whether events and circumstances continue to support the indefinite useful life assessment. |
Mining rights | (j) Mining rights Mining rights are stated at cost less accumulated amortization and impairment losses (Note 2(l)) and are amortized based on the units of production method utilizing only recoverable coal reserves as the depletion base, unless the mining rights are classified as held for sale (or included in a disposal group that is classified as held for sale). |
Goodwill | (k) Goodwill Goodwill is initially measured at cost, being the excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition-date fair value of any previous equity interest in the acquiree over the fair value of the identifiable net assets acquired and liabilities assumed of the acquiree at the date of acquisition. If the sum of this consideration and other items is lower than the fair value of the net assets acquired, the difference is, after reassessment, recognized in profit or loss as a gain on bargain purchase. 2 Principal accounting policies (continued) (k) Goodwill (continued) After initial recognition, goodwill is measured at cost less accumulated impairment losses. Goodwill arising on a business combination is allocated to each cash-generating unit, or groups of cash generating units, that is expected to benefit from the synergies of the combination and is tested for impairment annually or more frequent if events or changes in circumstances indicate that the carrying value may be impaired (Note 2(l)). On disposal of a cash-generating unit during the year, any attributable amount of purchased goodwill is included in the calculation of the profit or loss on disposal. |
Impairment of non-financial assets | (l) Impairment of non-financial assets The carrying amounts of property, plant and equipment, mining rights, intangible assets with definite useful lives, right-of-use assets and long-term equity investments not accounted for as financial assets are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated. Goodwill, indefinite life intangible assets and intangible assets not yet available for use are tested for impairment annually regardless of whether there are indications of impairment or more frequently if events or changes in circumstances indicate a potential impairment. An impairment loss is recognized if the carrying amount of an asset or cash-generating unit (“CGU”) exceeds its recoverable amount. The recoverable amount of an asset or CGU is the greater of its value in use and its fair value less cost to sell. For impairment testing, assets are grouped together into the smallest group of assets that generates cash inflows from continuing use that are largely independent of the cash inflows of other assets or CGUs. Subject to an operating segment ceiling test, CGUs to which goodwill has been allocated are aggregated so that the level at which impairment testing is performed reflects the lowest level at which goodwill is monitored for internal reporting purposes. Goodwill acquired in a business combination is allocated to groups of CGUs that are expected to benefit from the synergies of the combination. Impairment losses are recognized in profit or loss. Impairment losses recognized in respect of CGUs are allocated first to reduce the carrying amount of any goodwill allocated to the CGU (group of CGUs), and then to reduce the carrying amounts of the other assets in the CGU (group of CGUs) on a pro rata basis, except that the carrying value of an asset will not be reduced below its individual fair value less costs of disposal (if measurable) or value in use (if determinable). An impairment loss in respect of goodwill is not reversed. Except for goodwill, all impaired non-financial assets are subject to review for possible reversal of impairment at each reporting date. A reversal of an impairment loss is limited to the asset’s carrying amount that would have been determined had no impairment loss been recognized in prior years. Reversals of impairment losses are credited to profit or loss in the year in which the reversals are recognized. 2 Principal accounting policies (continued) |
Financial instruments | (m) Financial instruments (i) Recognition and initial measurement All financial assets and financial liabilities are initially recognized when the Group becomes a party to the contractual provisions of the instrument. A financial asset (unless it is a receivable without a significant financing component) or financial liability is initially measured at fair value plus, for an item not at FVTPL, transaction costs that are directly attributable to its acquisition or issue. A receivable without a significant financing component is initially measured at the transaction price. (ii) Classification and subsequent measurement of financial assets (1) Classification of financial assets On initial recognition, the Group categorizes financial assets into three principal classification categories: measured at amortized cost, at fair value through other comprehensive income (FVOCI) and at fair value through profit or loss (FVTPL) based on the business model under which the financial asset is managed and its contractual cash flow characteristics. Financial assets are not reclassified subsequent to their initial recognition unless the Group changes its business model for managing financial assets, in which case all affected financial assets are reclassified on the first day of the first reporting period following the change in the business model. An entity’s business model refers to how an entity manages its financial assets in order to generate cash flows. The entity’s business model determines whether cash flows will result from collecting contractual cash flows, selling financial assets or both. The Group determines the business model for managing the financial assets according to the facts and based on the specific business objective determined by the Group’s key management personnel. On initial recognition of an equity investment that is not held for trading, the Group may make an irrevocable election to designate the investment at FVOCI (non-recycling) such that subsequent changes in fair value are recognized in other comprehensive income. Such elections are made on an instrument-by-instrument basis, but may only be made if the investment meets the definition of equity from the issuer’s perspective. The Group assesses the contractual cash flow characteristics of an financial asset whether contractual cash flows are solely payments of principal and interest(“SPPI”). Principal is defined as the fair value of the financial asset on initial recognition. Interest is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs, as well as a profit margin. The Group assesses whether the financial assets contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. Financial assets with cash flows that are SPPI are classified and measured at amortized cost. 2 Principal accounting policies (continued) (m) Financial instruments (continued) (ii) Classification and subsequent measurement of financial assets (continued) (1) Classification of financial assets (continued) All financial assets not classified as measured at amortized cost or FVOCI as described in the above are measured at FVTPL. On initial recognition, the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortized cost or at FVOCI or at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise. (2) Subsequent measurement of financial assets - Financial assets at FVTPL These assets are subsequently measured at fair value. Net gains and losses, including any interest or dividend income, are recognized in profit or loss, unless the financial assets are part of a hedging relationship. - Financial assets at amortized cost These assets are subsequently measured at amortized cost using the effective interest method. A gain or loss on a financial asset that is measured at amortized cost and is not part of a hedging relationship shall be recognized in profit or loss when the financial asset is derecognized, through the amortization process or in order to recognize impairment gains or losses. - Debt investments at FVOCI These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, impairment and foreign exchange gains and losses are recognized in profit or loss. Other net gains and losses are recognized in other comprehensive income. On derecognition, gains and losses accumulated in other comprehensive income are reclassified to profit or loss. - Equity investments at FVOCI These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss. Other net gains and losses are recognized in other comprehensive income and are transferred to retained earnings on derecognition. (iii) Classification and subsequent measurement of financial liabilities Financial liabilities are classified as measured at FVTPL or measured at amortized cost. - Financial liabilities at FVTPL A financial liability is classified as at FVTPL if it is classified as held-for-trading (including derivative financial liability) or it is designated as such on initial recognition. These liabilities are subsequently measured at fair value and net gains and losses, including any interest expense, are recognized in profit or loss, unless the financial liabilities are part of a hedging relationship. 2 Principal accounting policies (continued) (m) Financial instruments (continued) (iii) Classification and subsequent measurement of financial liabilities (continued) - Financial liabilities at amortized cost These liabilities are subsequently measured at amortized cost using the effective interest method. (iv) Offsetting Financial assets and financial liabilities are separately presented in the statement of financial position without offsetting. However, financial assets and financial liabilities are offset when, and only when the Group: - currently has a legally enforceable right to set off the amounts; - intends either to settle them on a net basis or to realise the asset and settle the liability simultaneously. (v) Derecognition The Group derecognizes a financial asset when one of the following conditions is met: - the contractual rights to the cash flows from the financial asset expire; - the Group transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred; - the Group transfers the rights to receive the contractual cash flows in a transaction in which the Group neither transfers nor retains substantially all of the risks and rewards of ownership and does not retain control of the financial asset. On derecognition of a financial asset in its entirety, the difference between the two amounts below is recognized in profit or loss: - the carrying amount of the financial asset transferred (measured at the date of derecognition) and - the consideration received, along with the cumulative gain or loss previously recognized in other comprehensive income, for the part derecognized. The Group derecognizes a financial liability (or part of it) when, and only when, its contractual obligation (or part of it) is discharged or cancelled, or expire. Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay. 2 Principal accounting policies (continued) (m) Financial instruments (continued) (vi) Credit losses The Group recognizes loss allowance for expected credit losses (“ECLs”) on the following items: - financial assets measured at amortized cost; - contract assets as defined in IFRS 15; - lease receivables; and - debt investments measured at FVOCI. Financial assets measured at fair value, including debt investments or equity investments measured at FVTPL, other equity investments designated at FVOCI (non-recycling) and derivative financial assets, are not subject to the ECL assessment. Measurement of ECLs ECLs are a probability-weighted estimate of credit losses. Credit losses are measured as the present value of all expected cash shortfalls (i.e. the difference between the cash flows due to the Group in accordance with the contract and the cash flows that the Group expects to receive). The maximum period considered when estimating ECLs is the maximum contractual period over which the Group is exposed to credit risk. In measuring ECLs, the Group takes into account reasonable and supportable information that is available without undue cost or effort. This includes information about past events, current conditions and forecasts of future economic conditions. ECLs are measured on either of the following bases: - 12-month ECLs: these are losses that are expected to result from possible default events within the 12 months after the reporting date; and - lifetime ECLs: these are losses that are expected to result from all possible default events over the expected lives of the items to which the ECL model applies. Loss allowances for accounts receivable, lease receivables and contract assets are always measured at an amount equal to lifetime ECLs. ECLs on these financial assets are estimated using a provision matrix based on the Group’s historical credit loss experience, adjusted for factors that are specific to the debtors and an assessment of both the current and forecast general economic conditions at the reporting date. For all other financial instruments, the Group recognizes a loss allowance equal to 12-month ECLs unless there has been a significant increase in credit risk of the financial instrument since initial recognition or the financial instrument is not determined to have low credit risk at the reporting date, in which cases the loss allowance is measured at an amount equal to lifetime ECLs. 2 Principal accounting policies (continued) (m) Financial instruments (continued) (vi) Credit losses (continued) Low credit risk If the financial instrument has a low risk of default, the borrower has a strong capacity to meet its contractual cash flow obligations in the near term and adverse changes in economic and business conditions in the longer term may, but will not necessarily, reduce the ability of the borrower to fulfil its contractual cash flow obligations, the credit risk on a financial instrument is considered low. Significant increases in credit risk In assessing whether the credit risk of a financial instrument has increased significantly since initial recognition, the Group compares the risk of default occurring on the financial instrument assessed at the reporting date with that assessed at the date of initial recognition. The Group considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort. In particular, the following information is taken into account when assessing whether credit risk has increased significantly since initial recognition: - failure to make payments of principal or interest on their contractually due dates; - an actual or expected significant deterioration in a financial instrument’s external or internal credit rating (if available); - an actual or expected significant deterioration in the operating results of the debtor; and - existing or forecast changes in the technological, market, economic or legal environment that have a significant adverse effect on the debtor’s ability to meet its obligation to the Group. Depending on the nature of the financial instruments, the assessment of a significant increase in credit risk is performed on either an individual basis or a collective basis. When the assessment is performed on a collective basis, the financial instruments are grouped based on shared credit risk characteristics, such as past due status and credit risk ratings. The Group assumes that the credit risk on a financial asset has increased significantly if it is more than 30 days past due, unless the Group has reasonable and supportable information that is available without undue cost or effort, that demonstrates that the credit risk has not increased significantly since initial recognition even though the contractual payments are more than 30 days past due. The Group considers a financial asset to be in default when the borrower is unlikely to pay its credit obligations to the Group in full, without recourse by the Group to actions such as realizing security (if any is held). Credit-impaired financial assets At each reporting date, the Group assesses whether financial assets carried at amortized cost and debt investments at FVOCI are credit-impaired. A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. 2 Principal accounting policies (continued) (m) Financial instruments (continued) (vi) Credit losses (continued) Credit-impaired financial assets (continued) Evidence that a financial asset is credit-impaired includes the following observable events: - significant financial difficulties of the debtor; - a breach of contract, such as a default or delinquency in interest or principal payments; - for economic or contractual reasons relating to the borrower’s financial difficulty, the Group having granted to the borrower a concession that would not otherwise consider; - it becoming probable that the borrower will enter into bankruptcy or other financial reorganization; - the disappearance of an active market for that financial asset because of financial difficulties of the issuer. Presentation of allowance for ECLs ECLs are remeasured at each reporting date to reflect changes in the financial instrument’s credit risk since initial recognition. Any change in the ECL amount is recognized as an impairment gain or loss in profit or loss. The Group recognizes an impairment gain or loss for all financial instruments with a corresponding adjustment to their carrying amount through a loss allowance account, except for debt investments that are measured at FVOCI (recycling), for which the loss allowance is recognized in other comprehensive income. Write-off policy The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. A write-off constitutes a derecognition event. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for recovery of amounts due. Subsequent recoveries of an asset that was previously written off are recognized as a reversal of impairment in profit or loss in the period in which the recovery occurs. (vii) Cash flow hedge Cash flow hedge is a hedge of the exposure to variability in cash flows that is attributable to a particular risk associated with all, or a component of, a recognized asset or liability or a highly probable forecast transaction, and could affect profit or loss. The hedged items of cash flow hedge are the designated items with respect to the risks associated with future cash flow changes, and can be reliably measurable. Hedging instruments are designated financial instruments for cash flow hedge whose cash flows are expected to offset changes in the cash flows of a hedged item. 2 Principal accounting policies (continued) (m) Financial instruments (continued) (vii) Cash flow hedge (continued) When designating a hedging relationship and on an ongoing basis, the Group shall analyse the sources of hedge ineffectiveness that are expected to affect the hedging relationship during its term. If a hedging relationship ceases to meet the hedging effectiveness requirement relating to the hedge ratio, but the risk management objective for that designated hedging relationship remains the same, the Group shall adjust the hedge ratio of the hedging relationship, so that it meets the qualifying criteria again, which is referred to as rebalancing. When a derivative is designated as a cash flow hedging instrument, the effective portion of changes in the fair value of the derivative is recognized in other comprehensive income and accumulated in the cash flow hedge reserve. The cash flow hedge reserve is adjusted to the lower of the following: - the cumulative gain or loss on the hedging instrument from inception of the hedge; and - the present value of the cumulative change in the hedged expected future cash flows from inception of the hedge. The portion of the gain or loss on the hedging instrument that is determined to be an effective hedge shall be recognized in other comprehensive income. Any remaining gain or loss on the hedging instrument is hedge ineffectiveness that shall be recognized in profit or loss. On rebalancing, the hedge ineffectiveness of the hedging relationship is determined and recognized immediately before adjusting the hedging relationship. Adjusting the hedge ratio allows an entity to respond to changes in the relationship between the hedging instrument and the hedged item that arise from their underlyings or risk variables. The Group adjusts the hedge ratio by increasing the volume of the hedged items or hedging instruments. Hence, increases in volumes refer to the quantities that are part of the hedging relationship, and decreases in volumes are not part of the hedging relationship. The amount accumulated in the hedging reserve and the cost of hedging reserve is reclassified to profit or loss in the same period or periods during which the hedged expected future cash flows affect profit or loss. When the hedged forecast transaction subsequently results in the recognition of a non-financial item, the amount accumulated in the hedging reserve and the cost of hedging reserve is included directly in the initial cost of the non-financial item when it is recognized. If the amount that has been accumulated in the cash flow hedge reserve is a loss and the Group expects that all or a portion of that loss will not be recovered in one or more future periods, the Group immediately reclassifies the amount that is not expected to be recovered in profit or loss. 2 Principal accounting policies (continued) (m) Financial instruments (continued) (vii) Cash flow hedge (continued) When the Group discontinues hedge accounting for a cash flow hedge, the Group accounts for the amount that has been accumulated in the cash flow hedge reserve as follows: - if the hedged future cash flows are still expected to occur, that amount shall remain in the cash flow hedge reserve until the future cash flows occur. - if the hedged future cash flows are no longer expected to occur, that amount shall be immediately reclassified from the cash flow hedge reserve to profit or loss. A hedged future cash flow that is no longer highly probable to occur may still be expected to occur. When the future cash flows occur, the amounts accumulated in the hedging reserve of the effective portion are reclassified to profit or loss or included directly in the initial cost of the non-financial item. If the hedged future cash flows are no longer expected to occur, then the amounts that have been accumulated in the hedging reserve and the cost of hedging reserve are immediately reclassified to profit or loss. |
Dividend Distribution | (n) Dividend distribution Dividend distribution to the shareholders of the Group is recognized as a liability in the period when the dividend is approved in the shareholders’ meeting. |
Inventories | (o) Inventories Inventories include fuel for power generation, materials for repairs and maintenance and spare parts, and are stated at lower of cost and net realizable values. Inventories are initially recorded at cost and are charged to fuel costs or repairs and maintenance, respectively when used, or capitalized to property, plant and equipment when installed, as appropriate, using weighted average cost basis. Cost of inventories includes costs of purchase and transportation costs. When the forecast transaction that is hedged results in the recognition of the inventory, the gains and losses previously deferred in equity are transferred from equity and included in the initial measurement of the cost of the inventory. Provision for inventory obsolescence is determined by the excess of cost over net realisable value. Net realisable values are determined based on the estimated selling price less estimated conversion costs during power generation, selling expenses and related taxes in the ordinary course of business. |
Related parties | (p) Related parties A party is considered to be related to the Group if: (a) the party is a person or a close member of that person’s family and that person (i) has control or joint control over the Group; (ii) has significant influence over the Group; or 2 Principal accounting policies (continued) (p) Related parties (continued) (iii) is a member of the key management personnel of the Group or of a parent of the Group; or (b) the party is an entity where any of the following conditions applies: (i) the entity and the Group are members of the same group; (ii) one entity is an associate or joint venture of the other entity (or of a parent, subsidiary or fellow subsidiary of the other entity); (iii) the entity and the Group are joint ventures of the same third party; (iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity; (v) the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group; (vi) the entity is controlled or jointly controlled by a person identified in (a); (vii) a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); and (viii) the entity, or any member of a group of which it is a part, provides key management personnel services to the Group or to the parent of the Group. |
Cash and cash equivalents | (q) Cash and cash equivalents Cash and cash equivalents listed in the statement of cash flows represents cash in hand, call deposits held with banks and other financial institutions, and other short-term (3 months or less), highly-liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. Bank overdrafts that are repayable on demand and form an integral part of the cash management are also included as a component of cash and cash equivalents for the purpose of the consolidated statement of cash flows. |
Borrowings | (r) Borrowings Borrowings are recognized initially at fair value less transaction costs and subsequently measured at amortized cost using the effective interest method. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least 12 months after the end of the reporting period. |
Borrowing costs | (s) Borrowing costs General and specific borrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets. The capitalization of borrowing costs as part of the cost of a qualifying asset commences when expenditure for the asset is being incurred, borrowing costs are being incurred and activities that are necessary to prepare the asset for its intended use or sale are in progress. Capitalization of borrowing costs is suspended or ceases when substantially all the activities necessary to prepare the qualifying asset for its intended use or sale are interrupted or complete. The amount of specific borrowing costs capitalized is net of the investment income on any temporary investment of the funds pending expenditure on the asset. All other borrowing costs are recognized in profit or loss in the period in which they are incurred. |
Share capital | 2 Principal accounting policies (continued) (t) Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares are shown in equity as a deduction, net of tax, from the proceeds. |
Other equity instruments | (u) Other equity instruments Perpetual corporate bonds and other equity instruments are classified as equity if they are non-redeemable, or redeemable only at the Company’s option, and any interests or dividends are discretionary. Interests or dividends on such instruments classified as equity are recognized as distributions within equity. When these equity instruments are redeemed according to the contractual terms, the redemption price is charged to equity. |
Payables | (v) Payables Payables primarily include accounts payable and other liabilities, and are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method. 2 Principal accounting policies (continued) |
Taxation | (w) Taxation (i) Value-added tax (“VAT”) The domestic sales of power, heat and goods Group The applicable tax rates of VAT in respect of the lease of tangible movable properties, transportation industry and other modern service industries are 16% or 13%, 10% or 9% and 6%, respectively. (ii) Goods and service tax (“GST”) The power sales of the subsidiaries in Singapore are subject to goods and service tax of the country where they operate. GST payable is determined by applying 7% on the taxable revenue after offsetting deductible GST of the period. The subsidiaries in Pakistan are subject to goods and service tax of the country where they operate. The applicable tax rates in respect of capacity payment, operation and maintenance services and sales of power are 0%, 16% and 17% respectively on the taxable revenue. (iii) Current and deferred income tax The income tax expense for the period comprises current and deferred income tax. Income tax expense is recognized in profit or loss, except to the extent that it relates to items recognized in other comprehensive income or directly in equity. In this case, the tax is also recognized in other comprehensive income or directly in equity, respectively. Deferred income tax assets and liabilities are recognized based on the differences between tax bases of assets and liabilities and respective book values (temporary differences). For deductible tax losses or tax credit that can be brought forward in accordance with tax law requirements for deduction of taxable income in subsequent years, it is considered as temporary differences and related deferred income tax assets are recognized. No The Group recognizes deferred income tax assets to the extent that it is probable that taxable profit will be available to offset the deductible temporary difference, deductible tax loss and tax credit. At the end of the reporting period, deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. 2 Principal accounting policies (continued) (w) Taxation (continued) (iii) Current and deferred income tax (continued) The carrying amount of a deferred tax asset is reviewed at the end of each reporting period and is reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow the related tax benefit to be utilized. Any such reduction is reversed to the extent that it becomes probable that sufficient taxable profits will be available. Deferred income tax assets and deferred income tax liabilities are offset when all the conditions below are met: (1) The Group has the legally enforceable right to offset current income tax assets and current income tax liabilities; (2) Deferred income tax assets and deferred income tax liabilities are related to the income tax levied by the same tax authority of the Group. (x) Employee benefits |
Employee benefits | (x) Employee benefits Employee benefits include all expenditures relating to the employees for their services. The Group recognizes employee benefits as liabilities during the accounting period when employees render services and allocate to related cost of assets and expenses based on different beneficiaries. In connection with pension obligations, the Group operates various defined contribution plans in accordance with the local conditions and practices in the countries and provinces in which it operate. A defined contribution plan is a pension plan under which the Group pays fixed contributions into a separate publicly administered pension insurance plan on mandatory and voluntary bases. The Group has no legal or constructive obligations to pay further contributions if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. The contributions are recognized as employee benefits when incurred. Prepaid contributions are recognized as assets to the extent that a cash refund or a reduction in the future payment is available. |
Government grants | (y) Government grants Government grants are recognized when the Group fulfils the conditions attached to them and they are probable to be received. When government grants are received in the form of monetary assets, they are measured at the amount received or receivable. When the grant is in the form of non-monetary assets, it is measured at fair value. When fair value cannot be measured reliably, a nominal amount is assigned. Asset-related government grant is recognized as deferred income and is amortized evenly in profit or loss over the useful lives of related assets. Income-related government grant that is used to compensate subsequent related expenses or losses of the Group is recognized as deferred income and recorded in profit or loss when related expenses or losses are incurred. When the grant is used to compensate expenses or losses that were already incurred, they are directly recognized in the current period profit or loss. 2 Principal accounting policies (continued) |
Revenue and other income | (z) Revenue and other income Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in an increase in equity, other than those relating to contributions from equity participants. Revenue is recognized when (or as) the Group satisfies a performance obligation in the contract by transferring the control over a promised good or service to a customer. When two or more performance obligations are identified, the Group allocates the transaction price to each performance obligation identified in the contract on a relative stand-alone selling price basis at contract inception and recognizes as revenue the amount of the transaction price that is allocated to that performance obligation. Transaction price is the amount of consideration to which the Group expects to be entitled in exchange for transferring promised goods or services to a customer, excluding amounts collected on behalf of third parties. Revenue is only recognized to the extent that it is highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The Group recognizes a refund liability if the entity receives consideration from a customer and expects to refund some or all of that consideration to the customer. Where the contract contains a significant financing component, the Group recognizes revenue at an amount that reflects the price that a customer would have paid for the promised goods or services if the customer had paid cash for those goods or services when (or as) they transfer to the customer. The difference between the promised amount of consideration and its present value is amortized using the effective interest rate. The Group will not adjust the promised amount of consideration for the effects of a significant financing component if the Group expects, at contract inception, that the period between when the Group transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less. A performance obligation is satisfied over time if one of the following criteria is met: - When the customer simultaneously receives and consumes the benefits provided by the Group’s performance, as the Group performs; - When the Group’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; - When the Group’s performance does not create an asset with an alternative use to the entity and the Group has an enforceable right to payment for performance completed to date. For performance obligations satisfied over time, revenue is recognized on the basis of direct measurements of the value to the customer of the goods or services transferred to date relative to the remaining goods or services promised under the contract. When the outcome of the contract cannot be reasonably measured, revenue is recognized only to the extent of contract costs incurred that are expected to be recovered. For performance obligations satisfied at a point in time, revenue is recognized when the customer obtains control of the promised good or service in the contract. The Group considers indicators of the transfer of control, which include, but are not limited to, the following: - The Group has a present right to payment for the asset; - The Group has transferred physical possession of the asset; - The customer has legal title to the asset or the significant risks and rewards of ownership of the asset; - The customer has accepted the asset. 2 Principal accounting policies (continued) (z) Revenue and other income (continued) A contract asset is the Group’s right to consideration in exchange for goods or services that the Group has transferred to a customer when that right is conditional on something other than the passage of time and an impairment of a contract asset is measured using the ECL model (Note 2(m)(vi)). The Group presents any unconditional rights to consideration separately as a receivable. The Group’s obligation to transfer goods or services to a customer for which the Group has received consideration (or the amount is due) from the customer is present as a contract liability. Further details of revenue and income recognition policies are as follows: (i) Sale of power Revenue is recognized upon transmission of electricity to the power grid when the control of the electricity is transferred at the same time. (ii) Sale of heat Revenue is recognized upon transmission of heat to the customers when the control of the heat is transferred at the same time. (iii) Service revenue Service revenue refers to amounts received from port service, transportation service, maintenance service and heating pipeline service that is recognized over time during the provision of service, using an input method to measure progress towards complete satisfaction of the service, because the customer simultaneously receives and consumes the benefits provided by the Group. Revenue is recognized on a straight-line basis because the entity's inputs are expended evenly throughout the performance period. (iv) Coal and raw material sales revenue Revenue is recognized when the control of the fuel and materials is transferred to the customers. (v) Rental income from operating leases Rental income receivable under operating leases is recognized in profit or loss in equal instalments over the periods covered by the lease term, except where an alternative basis is more representative of the pattern of benefits to be derived from the use of the leased asset. Lease incentives granted are recognized in profit or loss as an integral part of the aggregate net lease payments receivable. Contingent rentals are recognized as income in the accounting period in which they are earned. (vi) Dividend income Dividend income is recognized when the shareholders' right to receive payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably. 2 Principal accounting policies (continued) (z) Revenue and other income (continued) (vii) Interest income Interest income from deposits is recognized on a time proportion basis using the effective interest method. Interest income from finance leases is recognized on a basis that reflects a constant periodic rate of return on the net investment in the finance lease. |
Contract cost | (aa) Contract cost Contract costs are either the incremental costs of obtaining a contract with a customer or the costs to fulfil a contract with a customer. Incremental costs of obtaining a contract are those costs that the Group incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained e.g. an incremental sales commission. Incremental costs of obtaining a contract are capitalized when incurred if the costs relate to revenue which will be recognized in a future reporting period and the costs are expected to be recovered. Other costs of obtaining a contract are expensed when incurred. If the costs incurred in fulfilling a contract with a customer are not within the scope of another Standard such as IAS 2 Inventories - the costs relate directly to an existing contract or to a specifically identifiable anticipated contract, including direct labour, direct materials, allocations of costs, costs that are explicitly chargeable to the customer and other costs that are incurred only because the Group entered into the contract; - the costs generate or enhance resources that will be used to provide goods or services in the future; - the costs are expected to be recovered. Amortization of capitalized contract costs is charged to profit or loss when the revenue to which the asset relates is recognized. The accounting policy for revenue recognition is set out in Note 2(z). Contract costs are recognized as an expense when incurred if the amortization period of the asset that the Group otherwise would have recognized is one year or less. Impairment losses are recognized to the extent that the carrying amount of the contract cost asset exceeds the net of: (i) remaining amount of consideration that the Group expects to receive in exchange for the goods or services to which the asset relates, less (ii) any costs that relate directly to providing those goods or services that have not yet been recognized as expenses. |
Leases | (ab) Leases The Group assesses at contract inception whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. 2 Principal accounting policies (continued) (ab) Leases (continued) Group as a lessee The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The Group recognizes lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets. At inception or on reassessment of a contract that contains a lease component and non-lease component(s), the Group adopts the practical expedient not to separate non-lease component(s) and to account for the lease component and the associated non-lease component(s) (e.g., property management services for leases of properties) as a single lease component. (i) Right-of-use assets Right-of-use assets are recognized at the commencement date of the lease (that is the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and any impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease terms and the estimated useful lives of the assets as follows: Buildings 3 – 10 years Electric utility plant in service 3 – 12 years Transportation facilities 30 years Land use rights 10 – 50 years Others 5 – 50 years If ownership of the leased asset transfers to the Group by the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset. (ii) Lease liabilities Lease liabilities are recognized at the commencement date of the lease at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for termination of a lease, if the lease term reflects the Group exercising the option to terminate the lease. The variable lease payments that do not depend on an index or a rate are recognized as an expense in the period in which the event or condition that triggers the payment occurs. 2 Principal accounting policies (continued) (ab) Leases (continued) Group as a lessee (continued) (ii) Lease liabilities (continued) In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in lease payments (e.g., a change to future lease payments resulting from a change in an index or rate) or a change in assessment of an option to purchase the underlying asset. (iii) Short-term leases and leases of low-value assets The Group has elected not to recognize right-of-use assets and lease liabilities for its short-term leases (elected by class of underlying asset) of certain offices and apartments for employees (that is those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the recognition exemption for leases of low-value assets (elected on a lease by lease basis) to leases of office equipment that is considered to be of low value (i.e., below RMB30,000). Instead, the Group recognizes the lease payments associated with those leases as an expense on a straight-line basis over the lease term. Group as a lessor When the Group acts as a lessor, it classifies at lease inception (or when there is a lease modification) each of its leases as either an operating lease or a finance lease. Leases in which the Group does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified as operating leases. When a contract contains lease and non-lease components, the Group allocates the consideration in the contract to each component on a relative stand-alone selling price basis. Rental income is accounted for on a straight-line basis over the lease terms and is included in revenue in the statement of comprehensive income due to its operating nature. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognized over the lease term on the same basis as rental income. Contingent rents are recognized as revenue in the period in which they are earned. Leases that transfer substantially all the risks and rewards incidental to ownership of an underlying asset to the lessee are accounted for as finance leases. At the commencement date, the cost of the leased asset is capitalized at the present value of the lease payments and related payments (including the initial direct costs), and presented as a receivable at an amount equal to the net investment in the lease. The finance income of such leases is recognized in the statement of comprehensive income so as to provide a constant periodic rate of charge over the lease terms. |
Contingencies | (ac) Contingencies Contingent liabilities are not recognized in the financial statements. They are disclosed unless the possibility of an outflow of resources embodying economic benefits is remote. Contingent assets are not recognized in the financial statements but disclosed when an inflow of economic benefit is probable. |
Fair value management | (ad) Fair value management The Group measures its equity investments at fair value at the end of each reporting period. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use. The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 – based on quoted prices (unadjusted) in active markets for identical assets or liabilities Level 2 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is observable, either directly or indirectly Level 3 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable For assets and liabilities that are recognized in the financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period. |
Research and development costs | (ae) Research and development costs All research costs are charged to the statement of profit or loss as incurred. Expenditure incurred on projects to develop new products is capitalized and deferred only when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the project and the ability to measure reliably the expenditure during the development. Product development expenditure which does not meet these criteria is expensed when incurred. 2 Principal accounting policies (continued) |
Issued but not yet effective International Financial Reporting Standards | (af) Issued but not yet effective International Financial Reporting Standards The new and amended standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Group’s financial statements are disclosed below. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective. Amendments to IAS 1 Classification of Liabilities as Current or Non-current Amendments to IFRS 3 Reference to the Conceptual Framework Amendments to IAS 16 Property, Plant and Equipment: Proceeds before Intended Use Amendments to IAS 37 Onerous Contracts - Cost of Fulfilling a Contract Amendments to IFRS 10 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform - Phase 2 Annual Improvements to IFRSs 2018-2020 Amendments to IFRS 9 and Illustrative Examples accompanying IFRS 16 (i) Amendments to IAS 1 Classification of Liabilities as Current or Non-current In January 2020, the IASB issued amendments to paragraphs 69 to 76 of IAS 1 to specify the requirements for classifying liabilities as current or non-current. The amendments clarify: - What is meant by a right to defer settlement - That a right to defer must exist at the end of the reporting period - That classification is unaffected by the likelihood that an entity will exercise its deferral right - That only if an embedded derivative in a convertible liability is itself an equity instrument would the terms of a liability not impact its classification The amendments are effective for annual reporting periods beginning on or after 1 January 2023 and must be applied retrospectively. The Group is currently assessing the impact that the amendments will have on current practice and whether existing loan agreements may require renegotiation. 2 Principal accounting policies (continued) (af) Issued but not yet effective International Financial Reporting Standards (continued) (ii) Amendments to IFRS 3 Reference to the Conceptual Framework Amendments to IFRS 3 are intended to replace a reference to the previous Framework for the Preparation and Presentation of Financial Statements with a reference to the Conceptual Framework for Financial Reporting issued in June 2018 without significantly changing its requirements. The amendments also add to IFRS 3 an exception to its recognition principle for an entity to refer to the Conceptual Framework to determine what constitutes an asset or a liability. The exception specifies that, for liabilities and contingent liabilities that would be within the scope of IAS 37 or IFRIC-Int 21 if they were incurred separately rather than assumed in a business combination, an entity applying IFRS 3 should refer to IAS 37 or IFRIC-Int 21 respectively instead of the Conceptual Framework. Furthermore, the amendments clarify that contingent assets do not qualify for recognition at the acquisition date. The Group expects to adopt the amendments prospectively from 1 January 2022. Since the amendments apply prospectively to business combinations for which the acquisition date is on or after the date of first application, the Group will not be affected by these amendments on the date of transition. (iii) Amendments to IAS 16 Property, Plant and Equipment: Proceeds before Intended Use In May 2020, the IASB issued Property, Plant and Equipment — Proceeds before Intended Use, which prohibits entities deducting from the cost of an item of property, plant and equipment any proceeds from selling items produced while bringing that asset to the location and condition necessary for it to be capable of operating in the manner intended by management. Instead, an entity recognizes the proceeds from selling such items, and the costs of producing those items, in profit or loss. The amendments are effective for annual reporting periods beginning on or after 1 January 2022 and must be applied retrospectively to items of property, plant and equipment made available for use on or after the beginning of the earliest period presented when the entity first applies the amendments. The amendments are not expected to have a material impact on the Group. (iv) Amendments to IAS 37 Onerous Contracts – Costs of Fulfilling a Contract In May 2020, the IASB issued amendments to IAS 37 to specify which costs an entity needs to include when assessing whether a contract is onerous or loss-making. The amendments apply a “directly related cost approach”. The costs that relate directly to a contract to provide goods or services include both incremental costs and an allocation of costs directly related to contract activities. General and administrative costs do not relate directly to a contract and are excluded unless they are explicitly chargeable to the counterparty under the contract. The amendments are effective for annual reporting periods beginning on or after 1 January 2022. The Group will apply these amendments to contracts for which it has not yet fulfilled all its obligations at the beginning of the annual reporting period in which it first applies the amendments. The amendment is not expected to have a material impact on the Group. 2 Principal accounting policies (continued) (af) Issued but not yet effective International Financial Reporting Standards (continued) (v) Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture The amendments address an inconsistency between the requirements in IFRS 10 and in IAS 28 in dealing with the sale or contribution of assets between an investor and its associate or joint venture. The amendments require a full recognition of a gain or loss when the sale or contribution of assets between an investor and its associate or joint venture constitutes a business. For a transaction involving assets that do not constitute a business, a gain or loss resulting from the transaction is recognized in the investor’s profit or loss only to the extent of the unrelated investor’s interest in that associate or joint venture. The mandatory effective date for this amendment is not yet determined but early adoption is permitted. The amendments are not expected to have any significant impact on the Group’s financial statements. (vi) Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform - Phase 2 The amendments address issues not dealt with in the previous amendments which affect financial reporting when an existing interest rate benchmark is replaced with an alternative RFR. The Phase 2 amendments provide a practical expedient to allow the effective interest rate to be updated without adjusting the carrying amount when accounting for changes in the basis for determining the contractual cash flows of financial assets and liabilities, if the change is a direct consequence of the interest rate benchmark reform and the new basis for determining the contractual cash flows is economically equivalent to the previous basis immediately preceding the change. In addition, the amendments permit changes required by the interest rate benchmark reform to be made to hedge designations and hedge documentation without the hedging relationship being discontinued. Any gains or losses that could arise on transition are dealt with through the normal requirements of IFRS 9 to measure and recognize hedge ineffectiveness. The amendments also provide a temporary relief to entities from having to meet the separately identifiable requirement when an RFR is designated as a risk component. The relief allows an entity, upon designation of the hedge, to assume that the separately identifiable requirement is met, provided the entity reasonably expects the RFR risk component to become separately identifiable within the next 24 months. Furthermore, the amendments require an entity to disclose additional information to enable users of financial statements to understand the effect of interest rate benchmark reform on an entity’s financial instruments and risk management strategy. The amendments are effective for annual periods beginning on or after 1 January 2021 and shall be applied retrospectively, but entities are not required to restate the comparative information. The Group had certain interest-bearing bank borrowings denominated in foreign currencies based on the London Interbank Offered Rate (“LIBOR”) as at 31 December 2020. If the interest rates of these borrowings are replaced by RFRs in a future period, the Group will apply this practical expedient upon the modification of these borrowings when the “economically equivalent” criterion is met and expects that no significant modification gain or loss will arise as a result of applying the amendments to these changes. (vii) Annual Improvements to IFRSs 2018-2020 Amendments to IFRS 9 and Illustrative Examples accompanying IFRS 16 Annual Improvements to IFRSs 2018-2020 sets out amendments to IFRS 9 and Illustrative Examples accompanying IFRS 16. Details of the amendments that are expected to be applicable to the Group are as follows: 2 Principal accounting policies (continued) (af) Issued but not yet effective International Financial Reporting Standards (continued) (vii) Annual Improvements to IFRSs 2018-2020 Amendments to IFRS 9 and Illustrative Examples accompanying IFRS 16 (continued) IFRS 9 Financial Instruments: clarifies the fees that an entity includes when assessing whether the terms of a new or modified financial liability are substantially different from the terms of the original financial liability. These fees include only those paid or received between the borrower and the lender, including fees paid or received by either the borrower or lender on the other’s behalf. An entity applies the amendment to financial liabilities that are modified or exchanged on or after the beginning of the annual reporting period in which the entity first applies the amendment. The amendment is effective for annual periods beginning on or after 1 January 2022. Earlier application is permitted. The amendment is not expected to have a significant impact on the Group’s financial statements. IFRS 16 Leases removes the illustration of payments from the lessor relating to leasehold improvements in Illustrative Example 13 accompanying IFRS 16. This removes potential confusion regarding the treatment of lease incentives when applying IFRS 16. It is not expected to have a material impact on the Group. |
Principal accounting policies_2
Principal accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Principal accounting policies | |
Estimated useful lives of property plant and equipment | Estimated useful lives Dams 8 – 50 years Port facilities 20 – 40 years Buildings 8 – 30 years Electric utility plant in service 5 – 30 years Transportation facilities 8 – 27 years Others 5 – 14 years |
Estimated useful lives of right-of-use assets | Buildings 3 – 10 years Electric utility plant in service 3 – 12 years Transportation facilities 30 years Land use rights 10 – 50 years Others 5 – 50 years |
Financial and capital risks m_2
Financial and capital risks management (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Financial and capital risks management | |
Loss allowances for accounts receivable and contract assets under lifetime ECLs measurement | Gross carrying Accounts receivable and contract assets amount Loss allowance Current (not past due) 35,854,768 — Within 1 year past due 2,327,113 7,394 1 - 3 years past due 91,370 24,275 More than 3 years past due 128,071 124,260 38,401,322 155,929 |
Loss allowances for other receivables under lifetime ECLs measurement | Gross carrying Other receivables amount Loss allowance Current (not past due) 2,244,414 150,898 Within 1 year past due — — 1 - 3 years past due — — More than 3 years past due 41,274 36,777 2,285,688 187,675 |
Assets and liabilities measured at fair value | Level 1 Level 2 Level 3 Total Recurring fair value measurements Assets Accounts receivable at fair value through other comprehensive income (Note 18) — 1,255,888 — 1,255,888 Derivatives used for hedging (Note 13) — 184,733 — 184,733 Other equity instrument investments (Note 10) 6,662 — 658,284 664,946 Total assets 6,662 1,440,621 658,284 2,105,567 Liabilities Derivatives used for hedging (Note 13) — 295,001 — 295,001 Total liabilities — 295,001 — 295,001 Level 1 Level 2 Level 3 Total Recurring fair value measurements Assets Financial assets at fair value through profit or loss – Trading derivatives (Note 13) — 4,601 — 4,601 – Contingent consideration (Note i) — — 457,727 457,727 Accounts receivable at fair value through other comprehensive income (Note 18) — 1,364,579 — 1,364,579 Derivatives used for hedging (Note 13) — 86,686 — 86,686 Other equity instrument investments (Note 10) 8,390 — 770,828 779,218 Total assets 8,390 1,455,866 1,228,555 2,692,811 Liabilities Financial liabilities at fair value through profit or loss – Trading derivatives (Note 13) — 2,987 — 2,987 Derivatives used for hedging (Note 13) — 447,721 — 447,721 Total liabilities — 450,708 — 450,708 |
Summary of significant unobservable inputs to the valuation of financial instruments together with a quantitative sensitivity analysis | Significant Valuation technique Unobservable input Range Sensitivity of fair value to the input Unlisted equity investments Valuation multiples Average P/B 2020: 1.06 to 1.17 10% increase/decrease in multiple would result in increase/decrease in fair value by RMB57.88 million. Average P/E 2020: 12.60 to 13.86 10% increase/decrease in multiple would result in increase/decrease in fair value by RMB2.44 million. Discount for lack of marketability 2020: 21.33% to 28.65% 10% increase/decrease in multiple would result in decrease/increase in fair value by RMB20.39 million. |
Movements of contingent consideration during the period in the balance of the Level 3 fair value measurements | As at 31 December 2020 2019 Contingent consideration Beginning of the year 457,727 991,383 Movements: Gains on fair value changes — 17,175 Profit compensation received from Huaneng Group (457,727) (550,831) End of the year — 457,727 Total gains for the year included in profit or loss for assets held at the end of the reporting period — 17,175 |
Movements of other equity instrument investments during the period in the balance of the Level 3 fair value measurements | As at 31 December 2020 2019 Other equity instrument investments Beginning of the year 770,828 2,074,861 Addition 61,713 7,450 Disposal — (1,250,000) Fair value changes (174,257) (61,483) End of the year 658,284 770,828 Changes in fair value recognized in other comprehensive income for the year (130,692) (46,113) |
Revenue and segment informati_2
Revenue and segment information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Revenue and segment information | |
Disclosure of disaggregation of revenue | PRC power Overseas All other Inter-segment For the year ended 31 December 2020 segment segment segments revenue Total Note i -Sales of power and heat 150,752,779 10,700,000 — — 161,452,779 -Sales of coal and raw materials 1,857,484 29,780 — — 1,887,264 -Port service — — 510,765 (312,625) 198,140 -Transportation service — — 153,679 (102,155) 51,524 -Lease income 86,136 1,544,118 — — 1,630,254 -Others 1,392,275 2,823,775 26,161 (15,834) 4,226,377 Total 154,088,674 15,097,673 690,605 (430,614) 169,446,338 Revenue: -From contracts with customers within the scope of IFRS15 167,816,084 -From other sources 1,630,254 5 Revenue and segment information (continued) (a) Disaggregation of revenue (continued) PRC power Overseas All other Inter-segment For the year ended 31 December 2019 segment segment segments revenue Total Note i -Sales of power and heat 152,806,163 12,129,652 — — 164,935,815 -Sales of coal and raw materials 1,353,538 527,798 — — 1,881,336 -Port service — — 505,485 (330,272) 175,213 -Transportation service — — 166,816 (118,297) 48,519 -Lease income 161,525 1,689,878 — — 1,851,403 -Others 1,320,409 3,788,133 28,185 (19,612) 5,117,115 Total 155,641,635 18,135,461 700,486 (468,181) 174,009,401 Revenue: -From contracts with customers within the scope of IFRS15 172,157,998 -From other sources 1,851,403 PRC power Overseas All other Inter-segment For the year ended 31 December 2018 segment segment segments revenue Total Note i -Sales of power and heat 154,816,070 11,490,601 — — 166,306,671 -Sales of coal and raw materials 649,374 214,402 — — 863,776 -Port service — — 441,637 (296,639) 144,998 -Transportation service — — 206,691 (153,334) 53,357 -Others 1,860,823 297,857 45,071 (21,929) 2,181,822 Total 157,326,267 12,002,860 693,399 (471,902) 169,550,624 Revenue: -From contracts with customers within the scope of IFRS15 169,467,647 -From other sources 82,977 |
Revenue information under PRC GAAP | (Under PRC GAAP) PRC power Overseas All other segment segment segments Total For the year ended 31 December 2020 Total revenue 154,174,151 15,005,045 690,605 169,869,801 Intersegment revenue — — (430,614) (430,614) External revenue 154,174,151 15,005,045 259,991 169,439,187 Segment results 7,634,662 896,315 225,969 8,756,946 Interest income 144,124 145,955 2,680 292,759 Interest expense (8,096,150) (943,797) (152,378) (9,192,325) Impairment loss (6,114,200) 536 — (6,113,664) Credit loss (49,116) (70,900) — (120,016) Depreciation and amortization (20,237,935) (809,284) (218,951) (21,266,170) Net (loss)/income on disposal of non-current assets (612,263) 20 (3) (612,246) Share of profits less losses of associates and joint ventures 1,316,377 — 298,815 1,615,192 Income tax expense (3,087,995) (6,063) (16,350) (3,110,408) 5 Revenue and segment information (continued) (b) Segment information (continued) (Under PRC GAAP) PRC power Overseas All other segment segment segments Total For the year ended 31 December 2019 (Restated*) Total revenue 155,739,959 17,610,861 700,486 174,051,306 Intersegment revenue — — (468,181) (468,181) External revenue 155,739,959 17,610,861 232,305 173,583,125 Segment results 4,658,738 162,465 (204,137) 4,617,066 Interest income 163,389 100,177 1,404 264,970 Interest expense (9,295,893) (1,308,380) (114,490) (10,718,763) Impairment loss (5,445,635) (6,119) (485,325) (5,937,079) Credit loss (6,570) (67,987) — (74,557) Depreciation and amortization (20,012,936) (752,285) (167,553) (20,932,774) Net gain/(loss) on disposal of non-current assets 132,902 4,189 (3) 137,088 Share of profits less losses of associates and joint ventures 745,980 — 240,330 986,310 Income tax expense (2,501,871) 89,006 (22,140) (2,435,005) PRC power Overseas All other segment segment segments Total For the year ended 31 December 2018 *** Total revenue 157,636,808 12,002,860 693,399 170,333,067 Intersegment revenue — — (471,902) (471,902) External revenue 157,636,808 12,002,860 221,497 169,861,165 Segment results 3,596,245 (363,636) 389,876 3,622,485 Interest income 163,699 69,841 2,198 235,738 Interest expense (9,879,911) (465,099) (101,694) (10,446,704) Impairment loss (895,121) (251,031) — (1,146,152) Credit loss (38,368) (4,210) — (42,578) Depreciation and amortization (18,909,485) (774,625) (142,179) (19,826,289) Net gain/(loss) on disposal of non-current assets 70,186 (1,052) (11) 69,123 Share of profits less losses of associates and joint ventures 640,057 737,185 307,417 1,684,659 Income tax expense (1,146,997) 134,573 (16,523) (1,028,947) |
Assets and liabilities information under PRC GAAP | (Under PRC GAAP) PRC power Overseas All other segment segment segments Total 31 December 2020 Segment assets 382,917,976 39,922,997 9,883,826 432,724,799 Including: Additions to non-current assets (excluding financial assets and deferred income tax assets) 38,156,544 432,151 186,313 38,775,008 Investments in associates 14,230,345 — 3,855,842 18,086,187 Investments in joint ventures 1,550,986 — 1,193,536 2,744,522 Segment liabilities (265,407,038) (23,933,317) (4,501,554) (293,841,909) PRC power Overseas All other segment segment segments Total 31 December 2019 (Restated*) Segment assets 356,050,595 43,122,947 9,857,566 409,031,108 Including: Additions to non-current assets (excluding financial assets and deferred income tax assets) 40,556,999 716,642 251,957 41,525,598 Investments in associates 13,187,050 — 3,540,265 16,727,315 Investments in joint ventures 1,239,866 — 1,232,556 2,472,422 Segment liabilities (263,469,330) (27,397,122) (2,552,860) (293,419,312) |
Reconciliation of external revenue to operating revenue | For the year ended 31 December 2020 2019(Restated*) 2018*** External revenue (PRC GAAP) 169,439,187 173,583,125 169,861,165 Reconciling items: Impact of restatement under PRC GAAP in relation to business combination under common control*(Note 39) (85,477) (98,324) (310,541) Impact of recognition of build-operate-transfer (BOT) related revenue under IFRSs 92,628 524,600 — Operating revenue per IFRS consolidated statement of comprehensive income 169,446,338 174,009,401 169,550,624 |
Reconciliation of segment result to profit before income tax expense | For the year ended 31 December 2020 2019(Restated*) 2018*** Segment results (PRC GAAP) 8,756,946 4,617,066 3,622,485 Reconciling items: Loss related to the headquarters (132,234) (155,395) (354,162) Share of profits of Huaneng Finance 188,643 200,810 166,864 Dividend income of other equity instrument investments 775 685 1,168 Impact of restatement under PRC GAAP in relation to business combination under common control* (Note 39) (13,995) 149,645 7,121 Impact of other IFRS adjustments** (4,026,399) (1,693,351) (1,470,329) Profit before income tax expense per IFRS consolidated statement of comprehensive income 4,773,736 3,119,460 1,973,147 |
Reportable segments' assets reconciled to total assets | As at 31 December 2020 2019(Restated*) Total segment assets (PRC GAAP) 432,724,799 409,031,108 Reconciling items: Investment in Huaneng Finance 1,394,030 1,416,183 Deferred income tax assets 2,996,690 3,271,488 Prepaid income tax 133,090 139,617 Other equity instrument investments 664,946 779,217 Corporate assets 292,197 361,441 Impact of restatement under PRC GAAP in relation to business combination under common control* (Note 39) — (1,402,511) Impact of other IFRS adjustments** 11,698,906 14,653,520 Total assets per IFRS consolidated statement of financial position 449,904,658 428,250,063 |
Reportable segments' liabilities reconciled to total liabilities | As at 31 December 2020 2019(Restated*) Total segment liabilities (PRC GAAP) (293,841,909) (293,419,312) Reconciling items: Current income tax liabilities (288,106) (748,957) Deferred income tax liabilities (977,810) (996,021) Corporate liabilities (1,622,574) (2,458,677) Impact of restatement under PRC GAAP in relation to business combination under common control* (Note 39) — 1,315,267 Impact of other IFRS adjustments** (1,558,061) (1,563,317) Total liabilities per IFRS consolidated statement of financial position (298,288,460) (297,871,017) |
Other material items | Impact of restatement under PRC GAAP in relation to Share of business profits of combination under Impact of other Reportable Huaneng common control* IFRS segment total Headquarters Finance (Note 39) adjustments** Total For the year ended 31 December 2020 Total revenue 169,439,187 — — (85,477) 92,628 169,446,338 Interest expense (9,192,325) (37,293) — 29,006 — (9,200,612) Depreciation and amortization (21,266,170) (36,434) — 26,023 (997,912) (22,274,493) Impairment loss (6,113,664) — — — (2,811,385) (8,925,049) Credit loss (120,016) — — — (52,695) (172,711) Share of profits less losses of associates and joint ventures 1,615,192 — 188,643 — (29,513) 1,774,322 Net loss on disposal of non-current assets (612,246) — — — (14,411) (626,657) Income tax expense (3,110,408) — — 176 947,059 (2,163,173) For the year ended 31 December 2019 (Restated*) Total revenue 173,583,125 — — (98,324) 524,600 174,009,401 Interest expense (10,718,763) (79,554) — 35,599 — (10,762,718) Depreciation and amortization (20,932,774) (14,147) — 59,679 (1,079,563) (21,966,805) Impairment loss (5,937,079) — — 125,259 (373,037) (6,184,857) Credit loss (74,557) — — — — (74,557) Share of profits less losses of associates and joint ventures 986,310 — 200,810 — (1,498) 1,185,622 Net gain/(loss) on disposal of non-current assets 137,088 — — — (67,639) 69,449 Income tax expense (2,435,005) — — 108 423,642 (2,011,255) For the year ended 31 December 2018 *** Total revenue 169,861,165 — — (310,541) — 169,550,624 Interest expense (10,446,704) (98,398) — 58,690 — (10,486,412) Depreciation and amortization (19,826,289) (26,122) — 167,910 (1,231,613) (20,916,114) Impairment loss (1,146,152) — — (8) (650,322) (1,796,482) Credit loss (42,578) — — 1,611 — (40,967) Share of profits less losses of associates and joint ventures 1,684,659 — 166,864 — (28,108) 1,823,415 Net gain/(loss) on disposal of non-current assets 69,123 (5) — — (26,612) 42,506 Income tax expense (1,028,947) — — 3,936 381,838 (643,173) |
Countries that external revenue generated from | For the year ended 31 December 2020 2019 2018 PRC 154,348,665 155,873,940 157,547,764 Overseas 15,097,673 18,135,461 12,002,860 Total 169,446,338 174,009,401 169,550,624 |
Countries that non-current assets (excluding financial assets and deferred income tax assets) located | As at 31 December 2020 2019 PRC 346,766,179 327,410,156 Overseas 23,275,028 24,830,127 Total 370,041,207 352,240,283 |
Information on sales to major customers | For the year ended 31 December 2020 2019 2018 Amount Proportion Amount Proportion Amount Proportion State Grid Shandong Electric Power Company 27,265,600 16 % 29,575,604 17 % 31,156,948 18 % |
Transaction price allocated to remaining performance obligations (unsatisfied or partially unsatisfied) | As at 31 December 2020 2019 Within 1 year 268,001 220,046 Over 1 year 2,355,763 2,223,208 Total (Note 25) 2,623,764 2,443,254 |
Profit before income tax expe_2
Profit before income tax expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Profit before income tax expense | |
Profit before income tax expense | For the year ended 31 December 2020 2019 2018 Total interest expense on borrowing 10,128,467 11,342,526 10,982,230 Less: amounts capitalized in property, plant and equipment 927,855 579,808 495,818 Interest expenses charged to consolidated statement of comprehensive income 9,200,612 10,762,718 10,486,412 Including: Interest expenses on lease liabilities 202,264 171,573 — Depreciation of property, plant and equipment 21,360,798 21,130,076 20,466,423 Depreciation of right-of-use assets 785,518 734,827 — Included in other investment loss/(income) -Dividends on other equity instrument investments (775) (685) (1,168) -Gains on disposal of subsidiaries — (256,009) — -Loss on disposal of a joint venture — — 270,741 Included in loss/(gain) on fair value changes of financial assets/liabilities -Contingent consideration of the business combination — (17,175) (746,850) -Loss/(gain) on fair value changes of trading derivatives 1,566 (19,492) 20,007 For the year ended 31 December 2020 2019 2018 Included in other operating expenses: - Operating expense of Ruyi Pakistan 2,581,665 3,057,427 — - Service concession construction cost 103,177 518,291 89,022 - Other materials expense 1,626,385 1,748,498 1,640,372 - Electricity charges 973,372 898,719 807,425 - Cost of sales of raw materials 295,330 606,103 1,088,534 - Water charges 549,260 652,077 642,578 - Insurance expense 386,435 362,147 346,348 - Cleaning, greening and fire protection expense 430,476 398,478 384,431 - Purchase of power generation quota 392,902 423,057 431,964 - Transportation allowance 179,955 178,217 186,438 - Pollutant charge 137,579 84,468 72,494 - Water conservancy fund and disabled security fund 471,129 202,479 166,244 - Test and inspection expense 359,997 323,434 267,406 - Service charge 333,916 171,676 105,649 - Heating pipeline related cost 134,915 144,300 168,443 - Auditors’ remuneration audit services 39,117 42,019 68,750 - Other consulting expense 97,559 111,468 42,479 - Office expense 223,913 198,033 187,030 - Minimum lease payments under operating leases, lease payments not included in the measurement of lease liabilities 106,031 234,139 — - Amortization of other non-current assets 128,177 101,902 105,623 - Property management expense 95,037 76,507 64,076 - Information technology maintenance expense 229,214 122,425 101,449 - Travel expense 99,106 156,683 164,193 - Amortization of land use rights — — 344,068 - Business entertainment expense 28,553 32,825 44,973 - Research and development expenditure 667,592 65,022 46,219 - Net loss on disposal of materials and supplies 167,449 6,384 — - Net loss/(gain) on disposal of non-current assets 626,657 (69,449) (42,506) - Recognition of loss allowance for receivables 172,711 74,557 40,967 - Recognition of provision for inventory obsolescence (Note 16) 43,076 22,453 253,816 - Impairment loss of property, plant and equipment (Note 7) 7,847,378 5,719,990 989,778 - Impairment loss of mining rights — — 135,085 - Impairment loss of goodwill (Note 14) 685,036 — 409,371 - Impairment loss of other non-current assets 349,559 464,867 8,432 - (Gain)/loss of Three Supplies and Property Management (126,425) (200,683) 433,989 - Operating lease charge — — 377,162 - Government grants (739,740) (818,101) (521,380) - Penalties 22,279 23,614 27,409 - Donations 55,663 47,393 19,460 - Land use right expense — — 54,487 - Others 525,637 698,006 678,720 Total 20,300,072 16,879,425 10,430,998 |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Detailed information about property, plant and equipment | Electric utility Transport- Dams Port facilities Buildings plant in service ation facilities Others CIP Total As at 1 January 2019 Cost 2,308,072 3,409,830 12,566,461 472,814,967 1,219,218 7,226,391 27,112,542 526,657,481 Accumulated depreciation (301,125) (560,284) (4,147,947) (221,703,642) (486,676) (4,722,608) — (231,922,282) Accumulated impairment losses (402,223) — (120,296) (11,099,636) — (38,205) (1,013,567) (12,673,927) Net book value 1,604,724 2,849,546 8,298,218 240,011,689 732,542 2,465,578 26,098,975 282,061,272 Year ended 31 December 2019 Beginning of the year 1,604,724 2,849,546 8,298,218 240,011,689 732,542 2,465,578 26,098,975 282,061,272 Upon adoption of IFRS 16 — — — (1,387,259) — (229,292) — (1,616,551) Beginning of the year (restated) 1,604,724 2,849,546 8,298,218 238,624,430 732,542 2,236,286 26,098,975 280,444,721 Reclassification — (1,104,389) 6,313 (183) — 1,098,259 — — Acquisition — — — — — — 2,038,550 2,038,550 Additions — — 7,249 187,370 242 164,909 29,978,861 30,338,631 Transfer from CIP 39 1,794,267 771,582 17,261,238 190,777 158,621 (20,176,524) — Disposals/write-off (2,292) — (470,877) (157,316) (4) (4,664) — (635,153) Depreciation charge (42,965) (88,629) (430,155) (20,057,767) (69,473) (449,818) — (21,138,807) Impairment charge — (439,190) (116,355) (3,864,903) (993) (43,432) (1,255,117) (5,719,990) Currency translation differences — — — 298,193 — (3,764) 526 294,955 End of the year 1,559,506 3,011,605 8,065,975 232,291,062 853,091 3,156,397 36,685,271 285,622,907 As at 31 December 2019 Cost 2,305,554 3,975,987 12,916,746 488,256,686 1,410,233 8,429,661 38,949,263 556,244,130 Accumulated depreciation (343,836) (525,192) (4,614,648) (241,169,240) (556,149) (5,191,819) — (252,400,884) Accumulated impairment losses (402,212) (439,190) (236,123) (14,796,384) (993) (81,445) (2,263,992) (18,220,339) Net book value 1,559,506 3,011,605 8,065,975 232,291,062 853,091 3,156,397 36,685,271 285,622,907 Year ended 31 December 2020 Beginning of the year 1,559,506 3,011,605 8,065,975 232,291,062 853,091 3,156,397 36,685,271 285,622,907 Reclassification (73,290) — 124,978 38,186 (75,100) (14,774) — — Acquisition (Note 39) — — 11,222 975,303 — 4,081 1,878 992,484 Additions — — 12,839 622,380 — 163,389 42,976,346 43,774,954 Transfer from CIP 4,773 24,938 447,047 27,265,667 7,305 259,431 (28,009,161) — Other additions — — 23,652 189,847 — 9,185 — 222,684 Reclassification to Investment property — — (1,348) — — — — (1,348) Disposals/write-off — — (10,259) (594,632) (24) (9,613) — (614,528) Depreciation charge (43,218) (126,252) (537,815) (20,139,034) (59,926) (468,716) — (21,374,961) Impairment charge (92,026) — (109,205) (7,552,442) — (24,875) (68,830) (7,847,378) Other decrease — — — (262,788) — — — (262,788) Currency translation differences — — — (332,568) — (3,476) (4,840) (340,884) End of the year 1,355,745 2,910,291 8,027,086 232,500,981 725,346 3,071,029 51,580,664 300,171,142 As at 31 December 2020 Cost 2,218,159 4,000,925 13,496,843 511,570,031 1,334,131 8,504,371 53,909,608 595,034,068 Accumulated depreciation (402,811) (651,444) (5,127,671) (256,998,944) (608,003) (5,331,854) — (269,120,727) Accumulated impairment losses (459,603) (439,190) (342,086) (22,070,106) (782) (101,488) (2,328,944) (25,742,199) Net book value 1,355,745 2,910,291 8,027,086 232,500,981 725,346 3,071,029 51,580,664 300,171,142 |
Schedule of impairment of CGUs | Net book value of CGUs after impairment Impairment recognized (RMB million) (RMB million) 31 December 2020 (For the year ended 31 December) Land use right and Electric other assets utility plant included in Company Name Buildings in service CGUs 2020 2019 2018 Huaneng Yichun Thermal Power Limited Company (“Yichun Thermal Power”) (a) 50 1,488 242 721 — — Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy”) (b) 20 310 162 492 — — Huaneng Shandong Power Generation Co., Ltd. Baiyanghe Power Plant ("Baiyanghe Power Plant ") (c) 47 1,035 90 750 — — Huaneng Shandong Power Generation Co., Ltd. Zhongtai Power Plant ("Zhongtai Power Plant ") (c) 4 159 42 457 — — Huaneng Jiaxiang Power Generation Limited Company ("Jiaxiang Power") (c) 49 639 125 625 — — Huaneng Jining Yunhe Power Generation Co., Ltd. ("Yunhe Power") (c) 11 1,185 227 986 — — Huaneng Shandong Power Generation Co., Ltd. Yantai Power Plant ("Yantai Power Plant") (c) 34 331 280 661 — — Huaneng Liaocheng Co-generation Limited Company ("Liaocheng Co-generation ") (c) 6 1,388 458 700 — — Huaneng Linyi Power Generation Limited Company ("Linyi Power") (c) 8 2,080 226 979 — — Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) 5 586 12 352 — — Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) — 886 63 274 — — Huaneng Zuoquan Coal-fired Power Generation Limited Liability Company ("Zuoquan Coal-fired Power ") (f) 35 2,660 57 270 — — Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) 3 42 270 168 — — Total 272 12,789 2,254 7,435 — — |
Schedule of key assumptions used in estimating the recoverable amount of the CGUs | Sales volume (Power generation hours) Tariff Fuel prices (standard coal price, Unit: hours/year Unit: RMB/MWh excluding tax) unit: RMB/ton Actual Actual Actual Forecast period in 2020 Fluctuation Forecast period in 2020 Fluctuation Forecast period in 2020 Fluctuation 4,664 4,421 243 249.56 278.28 28.72 460 444.90 15.1 |
Schedule of sales volume (power generation hours) and the average tariff Tongwei Wind Power Yigang Wind Farm | Items 2017 2018 2019 Sales volume (Power generation hours) Unit: hours/year 1,324 1,681 1,509 Average tariff (including tax, RMB/MWh) 511.58 465.86 438.51 |
Schedule of parameters used in calculation of WACC | Parameters Amount Notes Rf Risk-free rate 3.95% Use WIND to select China treasury bonds with a remaining maturity over 10 years from the base date of assets evaluation. Calculate their yield to maturity and take the average value as the risk-free rate. beta Beta Coefficient 0.6903 Calculate the beta coefficient based on the average value of the beta coefficient of comparable companies without financial leverage and the target capital structure; adjust the estimated beta coefficient using historical data by using the Blume Adjustment method. ERP Equity Risk Premiums 7.07% Use CSI 300 index to estimate the rate of return on investment of the Chinese stock market; set 10-year period as the time span for calculating the rate of return on investment; use the geometric average rate of return on investment which can better reflect its growth. ε Specific Risk Premium Rate 4.00% Use the comprehensive analysis method to determine the specific risk return rate ε, which means to consider all these factors of the assessed CGUs such as its asset scale, development stage, market competition status, internal governance structure and capital structure, etc. Kd Cost of Debt 3.85% Take the one-year T Enterprise Income Tax Rate 25%/15%, etc. Determine the applicable income tax rate according to the Corporate Income Tax Law |
Schedule of impairment loss on decommissioned PPE | Impairment recognized in 2020 Huaneng Hainan Power Generation Company Limited Haikou Power Plant (“Haikou Power Plant”) (i) 127,262 Huaneng Power International, Inc. Nantong Power Plant (“Nantong Power Plant”) (ii) 85,938 Huaneng Beijing Co-generation Limited Liability Company (“Beijing Co-generation”) (iii) 84,060 Other 4 items 46,730 Total 343,990 Designed Amount Impairment Time to cease investment invested recognized in construction (RMB million) (RMB million) 2020 (RMB million) Huaneng Huaiyin Power Generation Co., Ltd. (“Huaiyin Power”) Guanyun Large Unit Project (i) 2017 7,900 260 260 Huaneng Chaohu Power Generation Co., Ltd. (“Chaohu Power”) Phase II Expansion Project (ii) 2017 4,128 196 56 Huaneng Luoyuan Power Generation Co., Ltd. (“Luoyuan Power”) Phase II New Project(iii) 2016 5,306 48 48 Other 41 items 54 54 Total 558 418 |
Schedule of disposal of non-current assets | Net losses on disposal of non-current assets in 2020 Beijing Co-generation (i) 106,080 Huaneng Chongqing Luohuang Energy Sales Limited Liability Company (“Luohuang Energy Sales”) (ii) 80,683 Yingkou Power Plant (iii) 74,851 Huaneng Qidong Wind Power Generation Co., Ltd. (“Qidong Wind Power”) (iv) 44,292 Huaneng Qinbei Power Generation Co., Ltd. (“Qinbei Power”) (v) 26,999 Laiwu Power (vi) 24,944 Huaneng (Suzhou Industrial Park) Power Generation Co., Ltd. (“Suzhou Industrial Park Power”) (vii) 24,514 Yunhe Power (viii) 23,978 Huaneng Power International, Inc. Yuhuan Power Plant (“Yuhuan Power Plant”) (ix) 20,378 Other 55 items 199,938 Total 626,657 |
Yichun Thermal Power | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Schedule of key assumptions used in estimating the recoverable amount of the CGUs | Sales volume ( Power Fuel prices (standard coal unit generation hours) Tariff (excluding tax) price excluding tax) Unit: hours/year Unit: RMB/MWh Unit: RMB/ton Actual in Actual in Actual in Forecast period 2020 Fluctuation Forecast period 2020 Fluctuation Forecast period 2020 Fluctuation 4,140 4,217 77 360.00 341.36 18.64 782.34-738.17 798.21 15.87-60.04 |
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Schedule of key assumptions used in estimating the recoverable amount of the CGUs | Sales volume Sales volume (Power generation hours) Tariff (Heat sales volume) Unit: hours/year Unit: RMB/MWh (10,000 tons/year) Actual in Actual in Actual in Forecast period 2020 Forecast period 2020 Forecast period 2020 2021:2,321 From 2021 to 2031: Subsidized tariff: 2021:34 2022:2,363 the subsidized tariff 620.70 2022:36 2023:2,388 2,110 is 620.70, the tariff Tariff without 2023:38 2024:2,421 without subsidies is subsidies 2024:40 After 2025: from 2,455 356.00 :356.00 From 2025 to 2035 hours to 3,738 hours From 2032 to 2047: increases by 2 per year 14 420.70 from 41 to 61; From 2036 to 2047 increases by 1 per year from 62 to 73. |
Baiyanghe Power Plant, Zhongtai Power Plant, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation, Linyi Power and Jiaxiang Power | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Schedule of key assumptions used in estimating the recoverable amount of the CGUs | Unit Name Sales volume Fuel prices (Power generation hours) Tariff (including tax) (standard coal unit price excluding tax) Unit: hours/year Unit: RMB/MWh Unit: RMB/ton Forecast period Actual in 2020 Forecast period Actual in 2020 Forecast period Actual in 2020 Baiyanghe Power Plant 3,850 3,906 393.88 400.60 664.33 639.09 Zhongtai Power Plant 3,750 (Note 1-1) 5,607 393.86 395.22 624 576.98 2021: 389.90 397.63 2021: 677.00 624 2022: 388.40 After 2022: 662.00 Jiaxiang Power 3,900 3,952 After 2023: 386.90 Yunhe Power 3,900 (Note 1-2) 3,828 2021: 396.90 402.71 671.15 642.81 2022: 395.90 After 2023: 394.90 Yantai Power Plant 4,250 (Note 1-3) 4,182 410.97 410.82 695 (Note 1-4) 715.63 Liaocheng Co-generation 3,900 4,016 394.90 397.42 628.93 617.47 Linyi Power 3,900 4,126 392.91 408.55 705.66 692.23 |
Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Schedule of key assumptions used in estimating the recoverable amount of the CGUs | Sales volume (Power generation hours) Tariff Unit: hours/year Unit: RMB/MWh Forecast period Actual in 2020 Fluctuation Forecast period Actual in 2020 Fluctuation 1,620 1,496 124 385.38 336.60 48.78 |
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Schedule of key assumptions used in estimating the recoverable amount of the CGUs | Sales volume (Heat supply) Sales volume (Power generation hours) Fuel prices (standard coal price, (10,000 GJ) Unit: hours/year excluding tax) unit: RMB/ton Forecast period Actual in 2020 Fluctuation Forecast period Actual in 2020 Fluctuation Forecast period Actual in 2020 Fluctuation 2021:454.67 2021:2,093 2022:526.06 2022:2,084 2023:632.49 376.28 78-670 2023:2,506 1,705 388-2,442 694.97 633.75 61.22 2024:781.49 2024:3,097 2025:937.93 2025:3,717 After 2026:1,046.40 After 2026:4,147 |
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Schedule of key assumptions used in estimating the recoverable amount of the CGUs | Sales volume (Power generation hours) Unit: hours/year Sales volume (Water supply) Unit:10 thousand m³/day Water price Unit: RMB/m³ Forecast period Actual in 2020 Fluctuation Forecast period Actual in 2020 Fluctuation Forecast period Actual in 2020 Fluctuation 1,765 839 926 2021: 1.18 Non-agricultural water supply: 0.2 — 2022: 3.09 1.1 0.08 3.9 0.22 Industrial water supply: 0.24 After 2023: 5 |
Investments in associates and_2
Investments in associates and joint ventures (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments in associates and joint ventures | |
Summary of investments in associates and joint ventures | 2020 2019 Beginning of the year 20,783,259 19,553,964 Capital injections in associates and joint ventures 596,877 313,197 Share of net profit less loss 1,774,322 1,185,622 Share of other comprehensive (loss)/income (182,849) 368,696 Share of other capital reserve of equity-method investees 7,607 — Dividends (603,839) (638,220) End of the year 22,375,377 20,783,259 |
Basic information of material associates and joint ventures | Country of Business nature and scope of Percentage of equity interest held Name incorporation Registered capital operation Direct Indirect 1 Associates: Huaneng Sichuan Hydropower Co., Ltd. (“Sichuan Hydropower”) PRC RMB1,469,800,000 Development, investment, construction, operation and management of hydropower 49 % — SECL* PRC RMB3,964,491,597 Energy and investment in related industries 25.02 % — Hebei Hanfeng Power Generation Limited Liability Company (“Hanfeng Power”) PRC RMB1,975,000,000 Power generation 40 % — Huaneng Finance PRC RMB5,000,000,000 Provision for financial service including fund deposit and lending services, finance lease arrangements, notes discounting and entrusted loans and investment arrangements within Huaneng Group 20 % — China Huaneng Group Fuel Co., Ltd. (“Huaneng Group Fuel Company”) ** PRC RMB3,000,000,000 Wholesale of coal, import and export of coal 50 % — Hainan Nuclear Power Limited Liability Company (“Hainan Nuclear”) PRC RMB5,134,560,000 Construction and operation of nuclear power plants; production and sales of electricity and related products 30 % — Joint ventures: Shanghai Time Shipping Co., Ltd. (“Shanghai Time Shipping”) PRC RMB1,200,000,000 International and domestic sea transportation 50 % — Jiangsu Nantong Power Generation Co., Ltd. (“Jiangsu Nantong Power”) PRC RMB1,596,000,000 Operation and Management of power generation plants and transportation related projects — 35 % |
Summarized financial information of the material associates | Huaneng Group Sichuan Hydropower SECL Huaneng Finance Hanfeng Power Fuel Company Hainan Nuclear 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 2020 2019 Gross amounts of the associates’ Current assets 825,632 873,821 21,111,690 20,887,020 27,426,242 23,099,357 964,515 849,386 5,263,174 6,010,002 1,894,806 3,085,059 Non-current assets 14,836,413 14,305,871 92,332,480 76,623,640 20,003,370 20,746,004 1,279,233 1,661,565 3,641,641 3,781,166 19,826,469 20,749,672 Current liabilities (3,731,524) (2,772,221) (22,565,250) (25,533,260) (40,458,908) (36,733,579) (328,093) (442,628) (3,066,531) (3,827,415) (4,025,596) (3,338,370) Non-current liabilities (7,171,879) (7,788,402) (48,951,200) (38,446,550) (553) (30,867) (36,218) (166,718) (1,780,436) (2,121,112) (13,041,682) (15,930,100) Equity 4,758,642 4,619,069 41,927,720 33,530,850 6,970,151 7,080,915 1,879,437 1,901,605 4,057,848 3,842,641 4,653,997 4,566,261 -Equity attributable to shareholders 3,568,982 3,464,302 27,346,169 24,103,107 6,970,151 7,080,915 1,879,437 1,901,605 3,688,698 3,590,096 4,653,997 4,566,261 -Non-controlling interests 1,189,660 1,154,767 14,581,551 9,427,743 — — — — 369,150 252,545 — — Revenue 2,396,218 2,252,535 20,597,600 20,851,430 1,600,537 1,574,856 1,873,548 2,081,865 29,928,618 27,832,662 3,367,222 3,453,022 Gross profit/(loss) 701,606 575,401 5,952,100 6,472,550 1,014,653 1,064,181 22,637 (46,899) 284,754 173,371 147,629 142,906 Net profit/(loss) 555,009 509,034 4,248,550 1,749,600 943,215 1,004,048 6,426 (54,444) 222,488 150,460 77,037 307,135 Profit/(loss) from continuing operations attributable to shareholders 348,660 327,042 3,929,390 1,598,540 943,215 1,004,048 6,426 (54,444) 207,297 144,500 77,037 307,135 Other comprehensive (loss)/income attributable to shareholders — — (578,559) 1,589,390 (153,979) (150,286) — — (8,695) 2,164 — — Total comprehensive income/(loss) attributable to shareholders 348,660 327,042 3,350,831 3,187,930 789,236 853,762 6,426 (54,444) 198,602 146,664 77,037 307,135 Dividend received from the associates 98,449 116,505 49,587 49,587 180,000 146,000 — 43,132 50,000 20,000 — — Reconciled to the interests in the associates Gross amounts of net assets attributable to shareholders of the associates 3,568,982 3,464,302 27,346,169 24,103,107 6,970,151 7,080,915 1,879,437 1,901,605 3,688,698 3,590,096 4,653,997 4,566,261 The Group’s effective interest 49 % 49 % 25.02 % 25.02 % 20 % 20 % 40 % 40 % 50 % 50 % 30 % 30 % The Group’s share of net assets attributable to shareholders of the associates 1,748,801 1,697,508 6,842,011 6,030,597 1,394,030 1,416,183 751,775 760,642 1,844,349 1,795,048 1,396,199 1,369,878 Impact of adjustments 207,586 207,586 1,161,810 1,161,810 — — 293,082 293,082 16,521 16,521 14,076 14,076 Carrying amount in the consolidated financial statements 1,956,387 1,905,094 8,003,821 7,192,407 1,394,030 1,416,183 1,044,857 1,053,724 1,860,870 1,811,569 1,410,275 1,383,954 |
Summarized financial information of material joint ventures | Shanghai Time Shipping Jiangsu Nantong Power 2020 2019 2020 2019 Gross amounts of joint ventures’ Current assets 318,387 280,687 742,195 396,850 Non-current assets 3,910,739 4,083,160 4,740,502 5,294,584 Current liabilities (2,375,821) (2,367,244) (2,046,053) (2,660,119) Non-current liabilities — (54,623) (1,318,905) (901,583) Equity 1,853,305 1,941,980 2,117,739 2,129,732 Revenue 1,143,885 1,613,813 3,118,059 2,959,197 Gross profit 169,040 135,846 541,305 490,578 Net profit 11,325 121,284 240,436 211,589 Total comprehensive income 11,325 121,284 240,436 211,589 Dividend received in cash from the joint ventures 50,000 — 126,215 145,143 Reconciled to the interests in the joint ventures: Gross amounts of net assets 1,853,305 1,941,980 2,117,739 2,129,732 The Group’s effective interest rates 50 % 50 % 50 % 50 % The Group’s share of net assets 926,653 970,990 1,058,870 1,064,866 Impact of adjustments 18,324 18,324 — — Carrying amount in the consolidated financial statements 944,977 989,314 1,058,870 1,064,866 |
Aggregated information of individually immaterial associates and joint ventures | 2020 2019 Aggregate carrying amount of individually immaterial associates and joint ventures in the consolidated financial statements 4,701,290 3,966,148 Aggregate amounts of the Company and its subsidiaries' share of those associates and joint ventures Profit from continuing operations 190,029 123,869 Total comprehensive income 190,029 123,954 |
Investments in subsidiaries (Ta
Investments in subsidiaries (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Investments in subsidiaries | |
Subsidiaries acquired through establishment or investment | As at 31 December 2020, the investments in subsidiaries of the Group, all of which are unlisted, are as follows: (i) Subsidiaries acquired through establishment or investment Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng International Power Fuel Limited Liability Company PRC Held directly RMB 200,000,000 Wholesale of coal 100 % 100 % Huaneng Nantong Power Generation Limited Liability Company PRC Held indirectly RMB 798,000,000 Power generation 70 % 70 % Yingkou Co-generation PRC Held directly RMB 875,675,300 Production and sale of electricity and heat sale of coal ash and lime 100 % 100 % Huaneng Hunan Xiangqi Hydropower Co., Ltd. PRC Held directly RMB 328,000,000 Construction, operation and management of hydropower plants and related projects 100 % 100 % Zuoquan Coal-fired Power PRC Held directly RMB 960,996,200 Construction, operation and management of electricity projects; development and utilisation of clean energy resources 80 % 80 % Huaneng Kangbao Wind Power Utilisation Limited Liability Company PRC Held directly RMB 543,200,000 Construction, operation and management of wind power plants and related projects; solar power generation 100 % 100 % Huaneng Jiuquan Wind Power Generation Co., Ltd (“Jiuquan Wind Power”) PRC Held directly RMB 2,761,480,000 Construction, operation and management of wind power generation and related projects 100 % 100 % Huaneng Rudong Wind Power Generation Co., Ltd. PRC Held indirectly RMB 90,380,000 Operation, management of wind power generation projects 90 % 90 % Huaneng Guangdong Haimen Port Limited Liability Company PRC Held indirectly RMB 331,400,000 Loading, warehousing and conveying services, providing facility services and water transportation services 100 % 100 % Huaneng Taicang Port Limited Liability Company PRC Held indirectly RMB 600,000,000 Port provision, cargo loading and storage 85 % 85 % Huaneng Taicang Power Generation Co., Ltd. PRC Held indirectly RMB 883,899,310 Power generation 75 % 75 % Huaneng Huaiyin II Power Generation Limited Company PRC Held indirectly RMB 930,870,000 Power generation 63.64 % 63.64 % Xindian Power PRC Held directly RMB 991,915,789 Power generation 95 % 95 % Huaneng Shanghai Combined Cycle Power Limited Liability Company PRC Held directly RMB 699,700,000 Power generation 70 % 70 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Yumen Wind Power Generation Co., Ltd PRC Held directly RMB 785,960,000 Construction, operation and management of wind power generation and related projects 100 % 100 % Qingdao Co-generation PRC Held directly RMB 498,729,045 Construction, operation and management of co-generation power plants and related projects 100 % 100 % Huaneng Tongxiang Combined Cycle Co-generation Co., Ltd. PRC Held directly RMB 300,000,000 Production and sale of electricity and heat; investment in combined cycle co-generation industries 95 % 95 % Huaneng Shantou Haimen Power Generation Limited Liability Company PRC Held indirectly RMB 1,508,000,000 Construction, operation and management of power plants and related projects 80 % 80 % Huaneng Chongqing Liangjiang Power Generation Limited Liability Company (“Liangjiang Power”) PRC Held directly RMB 726,600,000 Construction, operation and management of natural gas power plants and related projects 90 % 90 % Huaneng Yunnan Fuyuan Wind Power Generation Co., Ltd. PRC Held directly RMB 326,290,000 Wind power project investment, management and sales 100 % 100 % Huaneng Guizhou Panzhou State City Wind Power Co., Ltd. PRC Held directly RMB 188,180,000 Construction and management of wind power plants and related projects 100 % 100 % Huaneng Jiangxi Clean Energy Limited Liability Company PRC Held directly RMB 1,384,502,000 Power generation and supply development, management and construction of clean energy resource 100 % 100 % Huaneng Hunan Subaoding Wind Power Generation Co., Ltd. PRC Held directly RMB 266,000,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Suixian Jieshan Wind Power Generation Co., Ltd. PRC Held directly RMB 183,500,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Taiyuan Dongshan Combined Cycle Co-generation Co., Ltd. PRC Held directly RMB 731,710,000 Construction and operation of thermal heating networks, development and utilisation of clean energy resources 82 % 82 % Huaneng Xuzhou Tongshan Wind Power Generation Co., Ltd. (“Tongshan Wind Power”) PRC Held indirectly RMB 287,951,400 Wind power generation, electricity engineering design services maintenance of power supply and control facilities, solar energy power generation 70 % 70 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Nanjing Co-generation Co., Ltd. PRC Held indirectly RMB 320,400,000 Construction and operation of power plants, and thermal heating services 70 % 70 % Huaneng Hunan Guidong Wind Power Generation Co., Ltd. PRC Held directly RMB 140,000,000 Investment, construction, operation and management of electricity projects; development and utilisation of clean energy resources 100 % 100 % Huaneng Nanjing Luhe Wind Power Generation Co., Ltd. PRC Held indirectly RMB 84,800,000 Investment, construction, operation, management of electricity projects; development and utilisation of clean energy resources 100 % 100 % Luoyuan Power PRC Held indirectly RMB 1,163,100,000 Construction, operation and management of power plants and related projects 100 % 100 % Huaneng Lingang (Tianjin) Gas Co-generation Co., Ltd. PRC Held directly RMB 332,000,000 Power generation and supply 100 % 100 % Huaneng Lingang (Tianjin) Heat Co-generation Co., Ltd. PRC Held indirectly RMB 5,000,000 Providing thermal energy and cold energy services, supplying steam and hot water (except portable water), plumbing pipe installation and repair, energy engineering construction 66 % 66 % Huaneng Anhui Huaining Wind Power Generation Co., Ltd. PRC Held directly RMB 301,500,000 Investment, construction and operation of electricity projects development and utilisation of clean energy resources 100 % 100 % Huaneng Mianchi Co-generation Limited Liability Company PRC Held directly RMB 570,000,000 Construction, operation and management of coal-fired plants and related projects 60 % 60 % Xianrendao Co-generation PRC Held directly RMB 352,020,000 Power generation and supply development and utilisation of clean energy resources 100 % 100 % Huaneng Nanjing Xingang Comprehensive Energy Co., Ltd. PRC Held indirectly RMB 198,664,300 Thermal generation and supply, power distribution and sale 65 % 65 % Huaneng Changxing Photovoltaic Power Generation Limited Liability Company (“Changxing Photovoltaic Power”) PRC Held indirectly RMB 26,000,000 Construction and operation of distributed photovoltaic power generation plants and related projects 100 % 100 % Huaneng Rudong Baxianjiao Offshore Wind Power Generation Co., Ltd. PRC Held indirectly RMB 1,629,338,700 Infrastructure construction of wind power plants 70 % 70 % Guilin Gas Energy PRC Held directly RMB 267,450,000 Construction, operation and management of power plants and thermal energy 80 % 80 % Huaneng (Dalian) Co-generation Co., Ltd. PRC Held directly RMB 799,851,769 Construction, operation and management of co-generation power plants and related projects 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Zhongxiang Wind Power Generation Co., Ltd PRC Held directly RMB 240,000,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Guanyun Co-generation Co., Ltd PRC Held indirectly RMB 224,774,000 Construction, operation and management of co-generation power plants, heating network and expansion engineering 100 % 100 % Huaneng International Power Hong Kong Limited Company Hong Kong Held directly 100,000 Shares Development, construction management and operation of power supply, coal projects; related investment and financing businesses 100 % 100 % Tuas Power Generation Pte. Ltd. (“TPG”) Singapore Held indirectly S$ 1,183,000,001 Power generation and related by-products, derivatives, developing power supply resources operating electricity and power sales 100 % 100 % TP Utilities Pte. Ltd. (“TPU”) Singapore Held indirectly S$ 255,500,001 Provision of energy, power supply, thermal supply, management of industrial water and waste 100 % 100 % TP-STM Water Resources Pte. Ltd. Singapore Held indirectly S$ 4,500,000 Providing desalinated water 60 % 60 % TP-STM Water Services Pte. Ltd. Singapore Held indirectly S$ 21,000 Providing desalinated water 60 % 60 % Huaneng Shanxi Taihang Power Generation Limited Liability Company PRC Held directly RMB 1,086,440,000 Pre-services related to coal-fired generation 60 % 60 % Huaneng Mianchi Clean Energy Limited Liability Company PRC Held directly RMB 291,800,000 Wind power generation, new energy development and utilisation 100 % 100 % Huaneng Zhuolu Clean Energy Limited Liability Company PRC Held directly RMB 159,178,100 Construction, operation and management of power plants and related projects 100 % 100 % Tongwei Wind Power PRC Held directly RMB 264,640,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Yizheng Wind Power Generation Limited Liability Company PRC Held indirectly RMB 200,000,000 Wind power plants design, construction, management and maintenance 100 % 100 % Huaneng Yancheng Dafeng New Energy Power Generation Limited Liability Company PRC Held indirectly RMB 1,721,000,000 Construction, operation and management of wind power photovoltaic power plant 100 % 100 % Huaneng Shanyin Power Generation Limited Liability Company PRC Held directly RMB 1,573,000,000 Construction, operation and management of power plants and related projects 51 % 51 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Jiangsu Energy Sales Limited Liability Company PRC Held indirectly RMB 200,000,000 Purchase and sale of electricity and thermal energy water supply services, construction and operation of electricity distribution networks and heating pipe networks 100 % 100 % Huaneng Liaoning Energy Sales Limited Liability Company PRC Held directly RMB 200,000,000 Sale of electricity, thermal energy and hot water circulation 100 % 100 % Huaneng Guangdong Energy Sales Limited Liability Company PRC Held indirectly RMB 200,000,000 Power and thermal energy supply, energy conservation technology service, transmission and substation projects contracting 100 % 100 % Huaneng Suizhou Power Generation Limited Liability Company PRC Held directly RMB 96,020,000 Construction, operation and management of power plants, production and sale of electricity and heat 100 % 100 % Huaneng Changle Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 15,570,000 Construction, operation and management of photovoltaic power plants and related projects 100 % 100 % Huaneng Longyan Wind Power Generation Limited Liability Company PRC Held indirectly RMB 35,000,000 Construction, operation and management of wind power plants and related projects 100 % 100 % Huaneng Dandong Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 17,720,000 Investment, construction operation and management of electricity projects, development and utilisation of clean energy resources 100 % 100 % Huaneng Dongguan Combined Cycle Co-generation Limited Liability Company PRC Held indirectly RMB 658,940,000 Investment of electricity projects, thermal power generation and supply, investment in heating pipe networks, development and utilisation of clean energy resources 80 % 80 % Huaneng Chongqing Fengjie Wind Power Generation Limited Liability Company PRC Held directly RMB 183,900,000 Electricity production and supply; development and utilisation of clean energy resources 100 % 100 % Huaneng Jingxing Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 23,500,000 Investment, construction and management of photovoltaic power plants 100 % 100 % Huaneng Shanxi Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Electricity supply and sales investment, construction, operation and repair of regional transmission and distribution networks 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Chongqing Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Operation of natural gas, electric energy and thermal energy product sale 100 % 100 % Luohuang Energy Sales PRC Held indirectly RMB 210,000,000 Sale and supply of electricity, sale of thermal products 90 % 90 % Huaneng Chongqing Tongliang Energy Sales Limited Liability Company PRC Held indirectly RMB 210,000,000 Operation of natural gas, sale of electricity supply, sale of thermal products 51 % 51 % Huaneng Hunan Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Electricity and thermal energy product sale 100 % 100 % Huaneng Jiangxi Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Construction, operation and management of heat and power supply facilities 100 % 100 % Huaneng Hebei Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Construction, installation, maintenance and repair of heat and power supply facilities 100 % 100 % Huaneng Henan Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Sale of electricity, heat, gas and other energy products 100 % 100 % Huaneng Handan Heating Limited Liability Company PRC Held directly RMB 100,000,000 Construction, operation and maintenance of heating sources and pipe networks 100 % 100 % Huaneng (Huzhou Development Zone) Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 10,000,000 Photovoltaic power generation; power supply, purchase and sale 100 % 100 % Huaneng Fujian Energy Sales Limited Liability Company PRC Held indirectly RMB 210,000,000 Sale of electricity, heat, gas and other energy products 100 % 100 % Huaneng Hubei Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Sale of electricity, heat, gas and other energy products 100 % 100 % Huaneng (Sanming) Clean Energy Limited Liability Company PRC Held indirectly RMB 500,000 Construction, operation and management of wind power, photovoltaic power station and related projects 100 % 100 % Huaneng Yueyang Xingang Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 16,000,000 Construction, operation and management of electricity projects, development and utilisation of clean energy 60 % 60 % Huaneng Shanghai Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Power supply (except construction and operation of electricity networks), technology services in energy conservation and environmental protection 100 % 100 % Huaneng Anhui Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Sale of electricity, heat, gas and other energy products 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng (Shanghai) Power Maintenance Limited Liability Company PRC Held directly RMB 200,000,000 Contracting installation and repair of electricity facilities 100 % 100 % Huaneng Guanyun Clean Energy Power Limited Liability Company PRC Held indirectly RMB 1,221,246,000 Sale of electricity 100 % 100 % Huaneng Jianchang Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 94,870,000 Production and supply of electricity, and development and utilisation of clean energy resources 100 % 100 % Huaneng Chaoyang Photovoltaic Power Generation Limited Liability Company PRC Held directly RMB 30,090,000 Production and supply of electricity, and development and utilisation of clean energy resources 100 % 100 % Huaneng (Fujian) Port Limited Company PRC Held indirectly RMB 619,710,000 Port management, investment and development 100 % 100 % Huaneng Shijiazhuang Energy Limited Liability Company PRC Held directly RMB 60,000,000 Production and supply of heat, and purchase and sale of electricity 66.60 % 66.60 % Huaneng Jiangyin Combined Cycle Co-generation Limited Liability Company PRC Held indirectly RMB 600,000,000 Production and supply of electricity, and production and supply of heat 51 % 51 % Huaneng Anyang Energy Limited Liability Company PRC Held directly RMB 619,600,000 Production and supply of electricity, and production and supply of heat 100 % 100 % Huaneng Shanxi Comprehensive Energy Limited Liability Company (“Shanxi Comprehensive Energy”) PRC Held directly RMB 2,086,698,606 Production and supply of electricity, and production and supply of heat 100 % 100 % Zhaodong Huaneng Dechang Solar Power Generation Limited Company PRC Held indirectly RMB 30,810,000 Solar energy generation and technology promotion, and repair electricity facilities 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Daqing Huaneng Shuangyu Solar Power Generation Limited Company PRC Held indirectly RMB 80,796,000 Solar energy generation 100 % 100 % Huaneng Mingguang Wind Power Generation Limited Liability Company PRC Held directly RMB 13,000,000 Production and supply of electricity; investment, construction, operation and management of electricity projects 100 % 100 % Huaneng Guangxi Energy Sales Limited Liability Company PRC Held directly RMB 210,000,000 Power supply, contracting installation and repair of electricity facilities 100 % 100 % Huaneng Hunan Lianping Wind Power Generation Limited Liability Company PRC Held directly RMB 173,920,000 Production and supply of electricity 80 % 80 % Huaneng Abagaqi Clean Energy Limited Liability Company PRC Held directly RMB 316,180,760 Production, supply and sale of electricity and thermal energy 100 % 100 % Huaneng Jiashan Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 10,000,000 Production and supply of electricity 100 % 100 % Huaneng Zhejiang Energy Sales Limited Liability Company PRC Held indirectly RMB 210,000,000 New energy technology development and technology consulting 100 % 100 % Huaneng Guangdong Shantou Power Generation Limited Liability Company PRC Held indirectly RMB 10,000,000 Production and supply of electricity and thermal energy 100 % 100 % Huaneng Shantou Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 100,000 Production and supply of electricity 100 % 100 % Huaneng Guigang Clean Energy Limited Liability Company PRC Held directly RMB 173,810,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Changxing Jiapu Photovoltaic Power Generation Limited Liability Company PRC Held indirectly RMB 10,000,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Hainan Energy Sales Limited Liability Company PRC Held indirectly RMB 210,000,000 Construction and operation of heat and power supply facilities, operation of heat resources, heat networks and power supply facilities 91.80 % 91.80 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Yangpu Co-generation Limited Company PRC Held indirectly RMB 802,222,000 Investment, construction, operation and management of electricity projects and heat pipe networks 82.62 % 82.62 % Huaneng Zhejiang Pinghu Offshore Wind Power Generation Co., Ltd. PRC Held indirectly RMB 2,200,000,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Liaoning Clean Energy Limited Liability Company (“Liaoning Clean Energy”) PRC Held directly RMB 1,726,573,590 Technology development technical advice services for clean energy 100 % 100 % Jiangsu Huaneng Zhongyang New Energy Power Generation Co., Ltd. PRC Held indirectly RMB 28,000,000 Production and supply of electricity, investment, construction and operation of electricity projects 75 % 75 % Huaneng Henan Puyang Clean Energy Limited Liability Company PRC Held directly RMB 1,491,567,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Guizhou Energy Sales Co., Ltd. PRC Held directly RMB 210,000,000 Sale of electricity, heat and gas 100 % 100 % Huaneng Guangdong Shantou Offshore Wind Power Generation Co., Ltd. PRC Held indirectly RMB 62,950,000 Investment and development of wind energy and new energy 100 % 100 % Jiyuan Huaneng Energy Sales Co., Ltd. PRC Held indirectly RMB 20,000,000 Sale of electricity, heat and gas 51 % 51 % Huaneng Yushe Poverty Relief Energy Co., Ltd. PRC Held indirectly RMB 14,760,000 Construction, operation and management of photovoltaic power generation and new energy projects 90 % 90 % Huaneng Anhui Mengcheng Wind Power Co., Ltd. PRC Held directly RMB 409,070,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Anshun Comprehensive Energy Co., Ltd. PRC Held directly RMB 10,530,000 Production and supply of electricity, and investment, construction and operation of electricity projects 100 % 100 % Huaneng Shengdong Rudong Offshore Wind Power Co., Ltd. (“Huaneng Shengdong Rudong”) PRC Held indirectly RMB 1,575,960,000 Production and sale of electric power; investment in wind power generation 79 % 79 % 9 Investments in subsidiaries (continued) (i) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Zhejiang Cangnan Offshore Wind Power Co., Ltd. PRC Held directly RMB 10,000,000 Production and sale of electric power; and investment in wind power generation 100 % 100 % Huaneng Zhejiang Ruian Offshore Wind Power Co., Ltd. PRC Held indirectly RMB 10,000,000 Production and sale of electric power, and investment in wind power generation 100 % 100 % Huaneng (Shanghai) Photovoltaic Power Co., Ltd. (“Shanghai Photovoltaic Power”) PRC Held directly RMB 50,000,000 Technical service of wind power generation 100 % 100 % Sinosing Services PTE.Ltd. (“SSSPL”) Singapore Held indirectly USD 1 Investment service 100 % 100 % Huaneng Yangqu Wind Power Co., Ltd. (“Yangqu Wind Power”) PRC Held indirectly RMB 47,000,000 Construction, operation and management of wind power projects 100 % 100 % Huaneng Ruicheng Comprehensive Energy Co., Ltd. (“Ruicheng Comprehensive Energy”) PRC Held indirectly RMB 216,300,000 Construction, operation and management of new energy power projects, and power generation 100 % 100 % Huaneng Xiayi Wind Power Co., Ltd. (“Xiayi Wind Power”) PRC Held directly RMB 117,720,000 Production and sale of electric power, clean energy development and utilisation and investment in electricity projects 100 % 100 % Huaneng (Anhui Shitai) Wind Power Co., Ltd. (“Anhui Shitai Wind Power”) PRC Held directly RMB 63,600,000 Production and sale of electric power, clean energy development and utilisation and investment in electricity projects 100 % 100 % Huaneng (Tianjin) Energy Sales Co., Ltd. (“Tianjin Energy Sales”) PRC Held directly RMB 200,000,000 Power and thermal energy supply, energy conservation technology service, transmission and substation projects contracting 100 % 100 % Huaneng Qingneng Tongyu Power Co., Ltd. (“Qingneng Tongyu Power”) PRC Held indirectly RMB 180,000,000 Development and operation of new energy power projects 100 % 100 % 9 Investments in subsidiaries (continued) (i) Subsidiaries acquired through establishment or investment (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Guanling New Energy Power Generation Co., Ltd. (“Guanling New Energy”) PRC Held directly RMB 100,000,000 Production and sale of electricity and heat 100 % 100 % Huaneng Luobei Wind Power Co., Ltd. (“Luobei Wind Power”) PRC Held indirectly RMB 364,000,000 Development and management of new energy technology, operation and management of wind power, and maintenance of wind power equipment 100 % 100 % Huaneng Sihong New Energy Co., Ltd. (“Sihong New Energy”) PRC Held indirectly RMB 150,000,000 Development and management of new energy technology 100 % 100 % Huaneng Taiqian Wind Power Co., Ltd. (“Taiqian Wind Power”) PRC Held directly RMB 101,136,800 Production and sale of electricity and heat, development, investment and management of new energy technology, and development and utilisation of clean energy 51 % 51 % Huaneng Zhenping Clean Energy Co., Ltd. (“Zhenping Clean Energy”) PRC Held directly RMB 80,000,000 Production and sale of electricity, and development and utilisation of clean energy 100 % 100 % Huaneng (Heze Dongming) New Energy Co., Ltd. (“Heze Dongming New Energy”) PRC Held directly RMB 188,980,000 Photovoltaic power generation, wind power generation and biomass power generation 100 % 100 % Huaneng Jiangkou Wind Power Co., Ltd. (“Jiangkou Wind Power”) PRC Held directly RMB 20,000,000 Production and sale of wind power, and development and utilisation of clean energy 100 % 100 % Chongqing Huaqing Energy Co., Ltd. (“Huaqing Energy”) (i) PRC Held indirectly RMB 44,420,000 Providing thermal energy and cold energy services; supplying electricity 54 % 60 % Shengdong Rudong Offshore Wind Power Co., Ltd. (“Shengdong Rudong Offshore Wind Power”)(i) PRC Held indirectly RMB 1,418,409,282 Ancillary projects, construction of wind farm and wind farm maintenance 79 % 100 % Huaneng Zhanhua Photovoltaic Power Generation Limited Company (“Zhanhua Photovoltaic Company”) (i) PRC Held indirectly RMB 145,790,000 Photovoltaic power generation 46.40 % 58 % Huaneng Dezhou New Energy Limited Company (i) PRC Held indirectly RMB 350,530,000 Photovolt |
Subsidiaries acquired from business combinations under common control | (ii) Subsidiaries acquired from business combinations under common control Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Suzhou Industrial Park Power PRC Held indirectly RMB 632,840,000 Power generation 75 % 75 % Qinbei Power PRC Held directly RMB 3,139,965,055 Power generation 60 % 60 % Huaneng Yushe Power Generation Co., Ltd. PRC Held directly RMB 615,760,000 Power generation, power distribution and sale of power 60 % 60 % Huaneng Hunan Yueyang Power Generation Limited Liability Company PRC Held directly RMB 2,025,934,545 Power generation 55 % 55 % Huaneng Chongqing Luohuang Power Generation Limited Liability Company (“Luohuang Power”) PRC Held directly RMB 1,748,310,000 Power generation, production and sale of heat 60 % 60 % Huaneng Pingliang Power Generation Co., Ltd. PRC Held directly RMB 924,050,000 Power generation 65 % 65 % Huaneng Nanjing Jinling Power Generation Co., Ltd. PRC Held indirectly RMB 1,590,220,000 Power generation 60 % 60 % Qidong Wind Power PRC Held indirectly RMB 391,738,500 Development of wind power projects, and production and sale of electricity 65 % 65 % Tianjin Huaneng Yangliuqing Co-generation Limited Liability Company (“Yangliuqing Co-generation”) PRC Held directly RMB 1,537,130,909 Power generation, heat supply, facilities installation, maintenance and related services 55 % 55 % Huaneng Wuhan Power Generation Co., Ltd. (“Wuhan Power”) PRC Held directly RMB 1,478,461,500 Investment, construction, operation and management of electricity projects, and development and utilisation of clean energy resources 75 % 75 % Huaneng Anyuan Power Generation Co., Ltd. (“Anyuan Power”) PRC Held directly RMB 1,184,587,300 Construction and operation of power plants and related construction projects, and production of electricity 100 % 100 % Huaneng Hualiangting Hydropower Co., Ltd. (“Hualiangting Hydropower”) PRC Held directly RMB 50,000,000 Generation and transfer of power supply, and water supply (irrigation) 100 % 100 % 9 Investments in subsidiaries (continued) (ii) Subsidiaries acquired from business combinations under common control (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Jingmen Thermal Power Co., Ltd. (“Jingmen Thermal Power”) PRC Held directly RMB 780,000,000 Thermal power, power development and other service 100 % 100 % Enshi Qingjiang Dalongtan Hydropwer Development Co., Ltd. (“Dalongtan Hydropower”) PRC Held directly RMB 177,080,000 Hydropower development, production and management of electric power, and urban water supply 98.01 % 98.01 % Huaneng Hainan Power Generation Limited Company (“Hainan Power”) PRC Held directly RMB 1,326,419,587 Investment, construction, operation of various power plants, and regular energy and new energy development 91.80 % 91.80 % Huaneng Yingcheng Thermal Power Co., Ltd. (“Yingcheng Thermal Power”) PRC Held directly RMB 665,982,700 Construction and operation of power plants and production, sale of power and heat 100 % 100 % Huaneng Heilongjiang Power Generation Limited Company (“Heilongjiang Power”) PRC Held directly RMB 1,342,550,000 Development, investment construction, production and management of power (thermal) projects 100 % 100 % Huaneng Hegang Power Generation Limited Company (“Hegang Power”) PRC Held indirectly RMB 1,092,550,000 Electricity power construction, energy conservation, development projects, and heat production and supply 64 % 64 % Huaneng Xinhua Power Generation Limited Liability Company (“Xinhua Power”) PRC Held indirectly RMB 284,880,000 Power generation, power equipment repair, and coal sale 70 % 70 % Huaneng Tongjiang Wind Power Generation Limited Company (“Tongjiang Wind Power”) PRC Held indirectly RMB 330,000,000 Wind power generation, wind power plants operation planning and design 82.85 % 82.85 % Huaneng Daqing Thermal Power Limited Company (“Daqing Thermal Power”) PRC Held indirectly RMB 630,000,000 Power generation, and thermal production and supply 100 % 100 % 9 Investments in subsidiaries (continued) (ii) Subsidiaries acquired from business combinations under common control (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Daqing Lvyuan Wind Power Generation Limited Company (“Lvyuan Wind Power”) PRC Held indirectly RMB 497,000,000 Wind power generation 100 % 100 % Yichun Thermal Power PRC Held indirectly RMB 581,000,000 Power construction, production and sale, and thermal production and sale 100 % 100 % Huaneng Heilongjiang Energy Sales Limited Company (“Heilongjiang Energy Sales”) PRC Held indirectly RMB 210,000,000 Power supply, and the production of heat and hot water 100 % 100 % Zhaodong Huaneng Thermal Power Limited Company (“Zhaodong Thermal Power”) PRC Held indirectly RMB 10,000,000 Heat production and supply 100 % 100 % Huaneng Jilin Power Generation Limited Company (“Jilin Power”) PRC Held directly RMB 4,719,757,200 Power (thermal) projects, development of new energy projects and investment, construction, production, operation and sale 100 % 100 % Huaneng Linjiang Jubao Hydropower Limited Company (“Jubao Hydropower”) PRC Held indirectly RMB 46,820,000 Hydropower development and operation, and construction and operation of photovoltaic power generation 100 % 100 % Huaneng Jilin Energy Sales Limited Company (“Jilin Energy Sales”) PRC Held indirectly RMB 210,000,000 Thermal (cold) production and supply, and power supply 100 % 100 % Shandong Power PRC Held directly RMB 4,241,460,000 Power (thermal) project development, investment, construction and management 80 % 80 % Huaneng Henan Zhongyuan Gas Power Generation Co., Ltd. (“Zhongyuan Gas”) PRC Held directly RMB 400,000,000 Investment, construction, operation and management of power projects, thermal supply, and development and utilisation of clean energy resources 90 % 90 % Huaneng Zibo Boshan Photovoltaic Power Limited Company (“Zibo Photovoltaic”) (i) PRC Held indirectly RMB 22,000,000 Solar power generation, and sale 80 % 100 % Huaneng Jining New Energy Limited Company (“Jining New Energy”) (i) PRC Held indirectly RMB 38,000,000 Investment, construction and management of photovoltaic and wind power projects 80 % 100 % Huaneng Rizhao Thermal Power Limited Company (“Rizhao Thermal Power”) (i) PRC Held indirectly RMB 52,000,000 Urban heat construction, maintenance and operation design and construction of heat engineering 80 % 100 % Huaneng Laiwu New Energy Limited Company (“Laiwu New Energy”) (i) PRC Held indirectly RMB 68,000,000 Photovoltaic power and wind power generation 80 % 100 % Huaneng Shandong Sishui New Energy Limited Company (“Sishui New Energy”) (i) PRC Held indirectly RMB 143,090,000 Solar energy grid connected generation 80 % 100 % 9 Investments in subsidiaries (continued) (ii) Subsidsiaries acquired from business combinations under common control (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Huaneng Shandong Electric and Thermal Power Marketing Limited Company (“Shandong Power Marketing”) (i) PRC Held indirectly RMB 200,000,000 Sales and service of power and heating products, investment in power industry 80 % 100 % Huaneng Shandong Information Technology Limited Company (“Shandong Power Information Company”) (i) PRC Held indirectly RMB 80,000,000 Information technology and management consulting services 80 % 100 % Huaneng Zhanhua New Energy Limited Company (“Zhanhua New Energy”) (i) PRC Held indirectly RMB 235,298,200 Wind power, photovoltaic power generation 80 % 100 % Huaneng Weihai Port Photovoltaic Power Generation Limited Company (“Port Photovoltaic”) (i) PRC Held indirectly RMB 32,380,000 Photovoltaic power generation projects development and construction, electricity sales 80 % 100 % Huangtai Power (i) PRC Held indirectly RMB 1,391,878,400 Electricity power production, heat management 72 % 90 % Huaneng Dezhou Thermal Power Limited Company (“Dezhou Thermal Power”) (i) PRC Held indirectly RMB 40,000,000 Urban heat construction, maintenance and operation, design and construction of heat engineering 68 % 85 % Huaneng Dongying New Energy Limited Company (“Dongying New Energy”) (i) PRC Held indirectly RMB 92,601,483 Wind power projects development, wind power generation and sales of electricity 56 % 70 % Huaneng Shandong (Hong Kong) Investment Limited Company (“Hong Kong Investment”) (i) Hong Kong Held indirectly 10,000 shares Investment 80 % 100 % Shandong Silk Road International Power Limited Company (“Shandong Silk Road”) (i) PRC Held indirectly RMB 35,000,000 Contracting overseas projects and domestic international bidding projects, and construction and operation of power projects 80 % 100 % Yunhe Power (i) PRC Held indirectly RMB 696,355,300 Electrical (thermal) production and on-grid sale, technology consulting and services 78.68 % 98.35 % Linyi Power (i) PRC Held indirectly RMB 1,093,313,400 Power generation 60 % 75 % Liaocheng Changrun National Electric Heating Limited Company (“Liaocheng Changrun”) (i) PRC Held indirectly RMB 130,000,000 Heat supply 60 % 75 % Linyi Lantian Thermal Power Limited Company (“Lantian Thermal Power”) (i) PRC Held indirectly RMB 36,000,000 Heat supply, maintenance of thermal power network, power sale, and installation and maintenance of distribution facilities 54.40 % 68 % Yantai 500 Heating Limited Company (“Yantai 500”) (i) PRC Held indirectly RMB 20,500,000 Central heat services, plumbing and pipe installation services 64 % 80 % Huaneng Shandong Taifeng Renewable Energy Co., Ltd.** ("Taifeng Renewable Energy") (i) PRC Held indirectly RMB 200,000,000 Investment, development, construction and management of photovoltaic power generation projects 65.78 % 82.23 % Laiwu Power (iv) PRC Held indirectly RMB 2,340,000,000 Power production 74.32 % 100 % Huaneng Shandong Ruyi Coal Power Limited Company (“Ruyi Coal Power”) (iv) PRC Held indirectly RMB 1,294,680,000 Development, investment, construction, operation and management of electricity power and coal 40 % 100 % Huaneng Rongcheng New Energy Co., Ltd. (“Rongcheng New Energy”) (iv) PRC Held indirectly RMB 36,540,000 Wind power generation 48 % 100 % Liaocheng Co-generation (iv) PRC Held indirectly RMB 1,038,407,950 Power, and heat production and sale 60 % 100 % 9 Investments in subsidiaries (continued) (ii) Subsidiaries acquired from business combinations under common control (continued) Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Jiaxiang Power (iv) PRC Held indirectly RMB 646,680,000 Power generation, electrical equipment maintenance 40 % 100 % Qufu Co-generation (iv) PRC Held indirectly RMB 300,932,990 Sale and production of electric power, and thermal power 40 % 100 % Jining Co-generation (iv) PRC Held indirectly RMB 118,699,761 Heat supply and power generation 40 % 100 % Huaneng Shandong Electric Power Fuel Limited Company (“Shandong Fuel Company”) (iv) PRC Held indirectly RMB 100,000,000 Wholesale operation of coal 76.55 % 100 % Huaneng Shandong Power Generation Maintenance Technology Limited Company (“Shandong Maintenance Company”) (iv) PRC Held indirectly RMB 50,000,000 Power engineering design, construction 76.55 % 100 % Rizhao Power (iv) PRC Held indirectly RMB 1,245,587,900 Heat; engaged in power business 88.80 % 100 % Beijing Co-generation (vi) PRC Held directly RMB 3,702,090,000 Construction and operation of power plants and related construction projects 41 % 66 % Chaohu Power (vii) PRC Held directly RMB 840,000,000 Construction, operation, management of electricity projects, and development and utilisation of clean energy resources 60 % 70 % Huaneng Suzhou Thermal Power Co., Ltd. (“Suzhou Thermal Power”) (viii) PRC Held indirectly RMB 600,000,000 Construction, operation and management of electricity projects, and development and utilisation of clean energy 53.45 % 100 % Huaneng Ruijin Power Generation Co., Ltd. (“Ruijin Power Generation”) (x) PRC Held directly RMB 1,719,846,598 Construction, operation, management of electricity projects, and development and utilisation of clean energy 50 % 100 % Tianjin Longye New Energy Co., Ltd.** (“Tianjin Longye”) PRC Held directly RMB 9,300,000 Design, construction and maintenance of solar power projects, and sale of photovoltaic modules 100 % 100 % ** These companies were newly acquired in 2020. |
Subsidiaries acquired from business combinations not under common control | (iii) Subsidiaries acquired from business combinations not under common control Business nature Percentage of equity Country of Type of Registered and scope interest held Name of subsidiary incorporation interest held capital of operations Interest Voting Weihai Power PRC Held directly RMB 1,822,176,621 Power generation 60 % 60 % Huaiyin Power PRC Held indirectly RMB 305,111,720 Power generation 100 % 100 % Huade County Daditaihong Wind Power Utilisation Limited Liability Company PRC Held directly RMB 196,400,000 Wind power development and utilisation 100 % 100 % Zhanhua Co-generation PRC Held directly RMB 190,000,000 Production and sale of electricity and thermal energy 100 % 100 % Shandong Hualu Sea Transportation Limited Company PRC Held directly RMB 100,000,000 Cargo transportation along domestic coastal areas, and goods storage 53 % 53 % Huaneng Qingdao Port Limited Company PRC Held directly RMB 219,845,009 Loading and conveying warehousing, conveying, water carriage materials supply 51 % 51 % Huaneng Yunnan Diandong Energy Limited Liability Company (“Diandong Energy”) PRC Held directly RMB 9,648,142,100 Electricity project investment, power generation and sale, and coal exploitation and investment 100 % 100 % Yunnan Diandong Yuwang Energy Limited Company (“Diandong Yuwang”) PRC Held directly RMB 6,796,510,000 Electricity project investment, power generation and sale, and coal exploitation and investment 100 % 100 % Huaneng Luoyang Co-generation Limited Liability Company PRC Held directly RMB 600,000,000 Production and sale of electricity and heating 80 % 80 % Huaneng Zhumadian Wind Power Generation Co., Ltd. PRC Held directly RMB 259,028,000 Wind power generation, and new energy development and utilisation 90 % 90 % SinoSing Power Singapore Held directly US$ 1,476,420,585 Investment holding 100 % 100 % Tuas Power Singapore Held indirectly S$ 1,433,550,000 Investment holding 100 % 100 % Tuas Power Supply Pte. Ltd. Singapore Held indirectly S$ 500,000 Power sale 100 % 100 % TP Asset Management Pte. Ltd. Singapore Held indirectly S$2 Rendering of environment engineering services 100 % 100 % TPGS Green Energy Pte. Ltd. Singapore Held indirectly S$1,000,000 Provision of utility services 75 % 75 % Ruzhou Xuji Wind Power Generation Co., Ltd.(i) PRC Held indirectly RMB 4,000,000 Wind power and photovoltaic power generation 95 % 100 % Hong Kong Energy (iv) Hong Kong Held indirectly US$ 360,000,000 Investment 40 % 100 % Shandong Huatai Electric Power Operation & Maintenance (Private) Co., Ltd. (“Huatai Power”) (iv) Pakistan Held indirectly PKR 1,000,000 Power generation operation and maintenance 40 % 100 % Ruyi Pakistan Energy (iv) Pakistan Held indirectly US$ 360,000,000 Electric power production and sale 40 % 100 % Shanxi Xiaoyi Economic Development Zone Huaneng Energy Service Co., Ltd. (“Shanxi Xiaoyi Energy”) (ix) PRC Held indirectly RMB 100,000,000 Electricity sale, and sale of raw coal and processed coal 51 % 100 % |
Subsidiaries acquired from asset acquisitions | (iv) Subsidiaries acquired from asset acquisitions Percentage of equity Country of Business nature interest held Name of subsidiary incorporation Type of interest held Registered capital and scope of operations Interest Voting Shangrao Hongyuan Power Co., Ltd (“Hongyuan Power”) PRC Held indirectly RMB 397,800,000 Construction, operation and management of photovoltaic power projects 100 % 100 % Poyang Luohong Power Co., Ltd. (“Luohong Power”) PRC Held indirectly RMB 780,000,000 Investment, construction, operation and management of photovoltaic power projects 51 % 51 % Shuozhou Taizhong Wind Power Limited Company (“Shuozhou Wind Power”) PRC Held indirectly RMB 362,703,300 Investment, construction, operation and management of wind power projects 51 % 51 % Wuzhai Taizhong New Energy Wind Power Limited Company (“Wuzhai Wind Power”) PRC Held indirectly RMB 518,147,600 Investment, construction, operation and management of wind power projects 51 % 51 % Xian Xvheng New Energy Limited Company (“Xvheng New Energy”) PRC Held indirectly RMB 549,530,000 Construction, operation and management of photovoltaic power projects 100 % 100 % Licheng Yingheng Clean Energy Limited Company (“Yingheng Clean Energy”) PRC Held indirectly RMB 1,100,000,000 Construction, operation and management of photovoltaic power projects 100 % 100 % Ruicheng Yaosheng Power Development Co., Ltd.*** ("Yaosheng Power") PRC Held indirectly RMB 405,880,000 Development, construction, management and operation of solar power projects 51 % 51 % Ruicheng Ningsheng New Energy Co., Ltd. ("Ningsheng New Energy") *** PRC Held indirectly RMB 207,699,000 Development, construction, management and operation of solar power projects 51 % 51 % Fanshi Nengyu Wind Power Co., Ltd. ("Nengyu Wind Power”)*** PRC Held indirectly RMB 512,123,000 Development, construction, management and operation of wind power projects, and wind power generation 51 % 51 % Zuoquan Nengyu New Energy Co., Ltd. ("Nengyu New Energy”)*** PRC Held indirectly RMB 494,047,000 Wind power generation, new energy technology promotion service 51 % 51 % Dalian Chuanbo Haizhuang New Energy Co., Ltd. ("Dalian Chuanbo”)*** PRC Held indirectly RMB Development, construction, management and operation of wind power projects, wind power generation 97.96 % 97.96 % Henan Juhe New Energy Technology Co., Ltd. ("Juhe New Energy”)*** PRC Held directly RMB 111,900,000 Technology promotion and application service industry 100 % 100 % Xincai Juhe Wind Power Co., Ltd. ("Xincai Juhe”)*** PRC Held indirectly RMB 111,600,000 Development, construction, management and operation of wind power projects, and wind power generation 100 % 100 % Nanchang Tongshang New Energy Co., Ltd.*** PRC Held indirectly RMB 110,000,000 New energy and energy-saving technology promotion, construction of solar and wind power projects, electronic product and mechanical equipment installation 100 % 100 % 9 Investments in subsidiaries (continued) (iv) Percentage of Country of Type of interest Registered Business nature and equity interest held Name of subsidiary incorporation held capital scope of operations Interest Voting Dalian Jingangwan Energy Development Co., Ltd. *** PRC Held indirectly RMB 10,000,000 Development, construction, management and operation of wind power projects, and wind power generation and sale 94.07 % 94.07 % Dalian Beihuanghai Lingang Energy Development Co., Ltd. *** PRC Held indirectly RMB 10,000,000 Development, construction, management and operation of wind power projects, and wind power generation and sale 94.07 % 94.07 % Dalian Rongqiang New Energy Co., Ltd. *** PRC Held indirectly RMB 10,000,000 Development, construction, management and operation of wind power projects, and wind power generation and sale 94.07 % 94.07 % Dalian Qianyang New Energy Co., Ltd. *** PRC Held indirectly RMB 10,000,000 Development, construction, management and operation of wind power projects, and wind power generation and sale 94.07 % 94.07 % *** These companies were newly acquired in 2020. |
Other equity instrument inves_2
Other equity instrument investments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other equity instrument investments | |
Other equity instrument investments | 31 December 2020 31 December 2019 Equity securities designated at FVOCI (non-recycling) Listed equity investments at fair value 6,662 8,390 Unlisted equity investments at fair value 7.89% of Ganlong Double-track Railway Co., Ltd. 504,309 678,565 Others 153,975 92,263 Subtotal 658,284 770,828 Total 664,946 779,218 |
Power generation licenses (Tabl
Power generation licenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Power generation licenses | |
Detailed information about power generation license | 2020 2019 Beginning of the year 4,149,468 4,014,972 Movement: Currency translation differences (194,485) 134,496 End of the year 3,954,983 4,149,468 |
Mining rights (Tables)
Mining rights (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Mining rights | |
Detailed information about mining rights | 2020 2019 Beginning of the year Cost 2,472,886 2,406,567 Accumulated impairment losses (895,381) (895,381) Net book value 1,577,505 1,511,186 Movements: Addition 33,981 66,319 Impairment charge for the year — — End of the year 1,611,486 1,577,505 Cost 2,506,867 2,472,886 Accumulated impairment losses (895,381) (895,381) Net book value 1,611,486 1,577,505 |
Derivative financial instrume_2
Derivative financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Derivative financial instruments [abstract] | |
Details of derivative financial instruments | As at 31 December 2020 2019 Derivative financial assets -Hedging instruments for cash flow hedge (fuel swap contracts) 184,458 82,367 -Hedging instruments for cash flow hedge (exchange forward contracts) 275 4,319 -Financial instruments at fair value through profit or loss (fuel swap contracts) — 4,601 Total 184,733 91,287 Less: non-current portion -Hedging instruments for cash flow hedge (fuel swap contracts) 74,551 15,101 -Hedging instruments for cash flow hedge (exchange forward contracts) 3 1,275 Total non-current portion 74,554 16,376 Current portion 110,179 74,911 Derivative financial liabilities -Hedging instruments for cash flow hedge (fuel swap contracts) 45,111 243,045 -Hedging instruments for cash flow hedge (exchange forward contracts) 68,853 42,082 -Hedging instruments for cash flow hedge (interest rate swap contracts) 181,037 162,594 -Financial instruments at fair value through profit or loss (fuel swap contracts) — 2,987 Total 295,001 450,708 Less: non-current portion -Hedging instruments for cash flow hedge (fuel swap contracts) 10,358 39,684 -Hedging instruments for cash flow hedge (exchange forward contracts) 17,551 13,641 -Hedging instruments for cash flow hedge (interest rate swap contracts) 160,230 145,590 -Financial instruments at fair value through profit or loss (fuel swap contracts) — 1,493 Total non-current portion 188,139 200,408 Total current portion 106,862 250,300 |
Analysis of contractual cash inflows/(outflows) of major derivative financial instruments | Maturity Carrying Contractual Between 1 and amounts cash flows Within 1 year 5 years After 5 years As at 31 December 2020 Derivative financial assets Fuel derivatives used for hedging (net settlement) 184,458 184,458 109,907 74,551 — Forward exchange contracts used for hedging - inflows 304,090 302,424 1,666 — - outflows (303,780) (302,120) (1,660) — 275 310 304 6 — Fuel derivatives that do not qualify as hedges (net settlement) — — — — — Derivative financial liabilities Fuel derivatives used for hedging (net settlement) 45,111 (45,111) (34,753) (10,358) — Forward exchange contracts used for hedging - inflows 1,918,752 1,498,700 420,052 — - outflows (1,986,755) (1,549,515) (437,240) — 68,853 (68,003) (50,815) (17,188) — Net-settled interest rate swaps used for hedging - net cash inflows/(outflows) 181,037 (230,534) (37,564) (69,890) (123,080) Fuel derivatives that do not qualify as hedges (net settlement) — — — — — 13 Derivative financial instruments (continued) The analysis of contractual cash inflows/(outflows) of major derivative financial instruments are as follows (continued): Maturity Carrying Contractual Between 1 and amounts cash flows Within 1 year 5 years After 5 years As at 31 December 2019 Derivative financial assets Fuel derivatives used for hedging (net settlement) 82,367 82,367 67,266 15,101 — Forward exchange contracts used for hedging - inflows 697,057 585,340 111,717 — - outflows (691,081) (581,248) (109,833) — 4,319 5,976 4,092 1,884 — Fuel derivatives that do not qualify as hedges (net settlement) 4,601 4,601 4,601 — — Derivative financial liabilities Fuel derivatives used for hedging (net settlement) 243,045 (243,045) (203,361) (39,684) — Forward exchange contracts used for hedging - inflows 2,702,992 2,042,062 660,930 — - outflows (2,738,635) (2,067,617) (671,018) — 42,082 (35,643) (25,555) (10,088) — Net-settled interest rate swaps used for hedging - net cash inflows/(outflows) 162,594 (188,162) (33,497) (48,412) (106,253) Fuel derivatives that do not qualify as hedges (net settlement) 2,987 (2,987) (1,493) (1,494) — |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill | |
Movements of goodwill | The movements of goodwill during the years are as follows: 2020 2019 Beginning of the year Cost 19,292,497 18,941,078 Accumulated impairment losses (3,357,542) (3,368,851) Net book value 15,934,955 15,572,227 Movements: Business combination (Note 39) 12,615 — Impairment charge for the year (685,036) — Disposal of a subsidiary - cost — (21,723) Disposal of a subsidiary - impairment — 21,723 Currency translation differences - cost (539,577) 373,142 Currency translation differences - impairment 15,059 (10,414) End of the year 14,738,016 15,934,955 Cost 18,765,535 19,292,497 Accumulated impairment losses (4,027,519) (3,357,542) Net book value 14,738,016 15,934,955 |
Carrying amounts of major goodwill allocated to individual CGUs | In the impairment assessment of the Group, goodwill is allocated to groups of cash-generating units (CGUs) that are expected to benefit from the synergies of the business combination and is allocated to the relevant CGUs based on operating areas. The CGUs are consistent with those used on the purchase dates and in the impairment tests in previous years. The carrying amounts of major goodwill and goodwill impaired in 2020 allocated to individual CGUs are as follows: 2020 2019 PRC power segment: Yunhe Power 295,001 700,346 Linyi Power 382,500 541,307 Wuhan Power 518,484 518,484 Liaocheng Co-generation 429,750 495,448 Yantai Power Plant 31,706 62,837 Yichun Thermal Power 24,397 48,453 Overseas segment: Tuas Power 10,666,426 11,190,944 |
Pre-tax discount rates used for value-in-use calculations | Pre-tax discount rates used for value-in-use calculations: 2020 2019 Yunhe Power 8.98 % 9.22 % Linyi Power 9.00 % 9.23 % Wuhan Power 8.94 % 9.21 % Liaocheng Co-generation 8.90 % 9.18 % Yantai Power Plant 7.85 % 9.19 % Yichun Thermal Power 8.35 % 9.30 % Singapore Tuas Power 8.40 % 7.33 % |
Other non-current assets (Table
Other non-current assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other non-current assets | |
Details of other non-current assets | Details of other non-current assets are as follows: As at 31 December 2020 2019 Finance lease receivables (i) 9,431,733 10,519,845 VAT recoverable 5,526,256 4,172,871 Prepayments for pre-construction cost (ii) 438,167 788,081 Intangible assets (iii) 643,486 784,594 Prepaid connection fees 33,041 37,484 Contract assets 736,568 642,557 Others 1,728,332 1,659,573 Total 18,537,583 18,605,005 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Inventories | |
Details of inventories | As at 31 December 2020 2019 Fuel (coal and oil) for power generation 5,327,750 7,304,783 Material and supplies 1,473,355 1,765,827 6,801,105 9,070,610 Less: provision for inventory obsolescence 198,646 187,427 Total 6,602,459 8,883,183 |
Movements of provision for inventory obsolescence during the years | 2020 2019 Beginning of the year (187,427) (430,707) Provision (43,993) (23,507) Reversal 917 1,054 Write off 25,378 272,659 Currency translation differences 6,479 (6,926) End of the year (198,646) (187,427) |
Schedule of detailed information related to losses on scrapped materials and supplies | For the year ended 31 December 2020 Huaneng Power International, Inc. Shang’an Power Plant (“Shang’an Power Plant”) (i) 46,598 Huaneng Power International, Inc. Shanghai Shidongkou II Power Plant (“Shidongkou II”) (ii) 29,494 Other 22 items 91,357 Total 167,449 |
Other receivables and assets (T
Other receivables and assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other receivables and assets | |
Other receivables and assets | As at 31 December 2020 2019 Prepayments for inventories 1,222,785 758,834 Prepaid income tax 133,090 139,617 Others 335,189 266,252 Subtotal of prepayments 1,691,064 1,164,703 Less: Loss allowance 2,638 2,638 Total prepayments, net 1,688,426 1,162,065 Dividends receivable 50,000 — Receivables from sales of fuel 249,852 99,649 Others (Note i) 2,222,593 2,077,156 Subtotal of other receivables 2,522,445 2,176,805 Less: Loss allowance 187,675 52,531 Total other receivables, net 2,334,770 2,124,274 Profit compensation from Huaneng Group — 457,727 VAT recoverable 2,428,315 1,773,396 Finance lease receivables (Note 41) 478,666 483,691 Designated loan to joint ventures 304,306 80,000 Others 138,209 136,610 Subtotal other assets 3,349,496 2,931,424 Less: Loss allowance 64,615 — Total other assets, net 3,284,881 2,931,424 Gross total 7,563,005 6,272,932 Net total 7,308,077 6,217,763 |
Gross amounts of other receivables denominated in currencies | As at 31 December 2020 2019 RMB 1,945,945 1,943,568 S$(RMB equivalent) 102,484 86,422 US$(RMB equivalent) 16,585 11,898 PKR (RMB equivalent) 457,431 134,917 Total 2,522,445 2,176,805 |
Movements of other receivables and assets loss allowance | 2020 2019 Beginning of the year (55,169) (43,169) Provision (148,976) (25,578) Reversal 18 2,300 Write-off 3,559 11,278 Others (62,772) — Currency translation differences 8,412 — End of the year (254,928) (55,169) |
Accounts and notes receivable (
Accounts and notes receivable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounts and notes receivable | |
Accounts receivable | As at 31 December 2020 2019 Accounts receivable 30,045,678 26,911,837 Notes receivable 8,325,966 5,552,422 38,371,644 32,464,259 Less: Loss allowance 155,929 195,320 Total 38,215,715 32,268,939 Analysed into: Accounts receivable - At amortized cost 28,789,790 25,547,258 - At fair value through other comprehensive income 1,255,888 1,364,579 Notes receivable - At amortized cost 8,325,966 5,552,422 |
Gross amounts of account receivable denominated in currencies | As at 31 December 2020 2019 RMB 35,113,954 29,382,384 S$(RMB equivalent) 996,686 1,077,008 US$(RMB equivalent) 21,640 39,146 PKR (RMB equivalent) 2,239,364 1,965,721 Total 38,371,644 32,464,259 |
Movements of loss allowance | 2020 2019 Beginning of the year (195,320) (146,913) Provision (24,105) (64,838) Reversal 441 16,596 Write-off 20 — Others 62,772 — Currency translation differences 263 (165) End of the year (155,929) (195,320) |
Ageing analysis of accounts receivable and notes receivable based on the invoice date | As at 31 December 2020 2019 Within 1 year 37,966,985 31,566,008 Between 1 to 2 years 174,604 696,401 Between 2 to 3 years 86,388 57,667 Over 3 years 143,667 144,183 Total 38,371,644 32,464,259 |
Share capital (Tables)
Share capital (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share capital | |
Share capital | 2020 2019 Number of shares Share capital Number of shares Share capital RMB ’000 RMB ’000 As at 1 January A shares 10,997,709,919 10,997,710 10,997,709,919 10,997,710 Overseas listed foreign shares 4,700,383,440 4,700,383 4,700,383,440 4,700,383 Subtotal 15,698,093,359 15,698,093 15,698,093,359 15,698,093 Issuance of new A shares — — — — As at 31 December A shares 10,997,709,919 10,997,710 10,997,709,919 10,997,710 Overseas listed foreign shares 4,700,383,440 4,700,383 4,700,383,440 4,700,383 Total 15,698,093,359 15,698,093 15,698,093,359 15,698,093 |
Other equity instruments (Table
Other equity instruments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other equity instruments | |
Details of other equity instruments | Initial Type of Issuance Distribution Conversion Conversion Instruments Date Category Rate Issue Price Number Par Value Initial Period Condition Result RMB ’000 RMB ’000 Bond B September 2017 Equity Instrument 5.17 % 0.1 25,000,000 2,500,000 5 years None None Yingda Insurance Financing Plan (1st) September 2018 Equity Instrument 5.79 % — — 3,283,000 8 years None None Yingda Insurance Financing Plan (2nd) September 2018 Equity Instrument 5.79 % — — 827,000 8 years None None Yingda Insurance Financing Plan (3rd) September 2018 Equity Instrument 5.79 % — — 890,000 8 years None None China Life Financing Plan (1st) September 2019 Equity Instrument 5.05 % — — 2,070,000 8 years None None PICC Financing Plan (1st) September 2019 Equity Instrument 5.10 % — — 930,000 10 years None None 2019 medium-term notes (2nd) October 2019 Equity Instrument 4.08 % 0.1 20,000,000 2,000,000 3 years None None 2019 medium-term notes (3rd) October 2019 Equity Instrument 4.05 % 0.1 20,000,000 2,000,000 3 years None None China Life Financing Plan (2nd) October 2019 Equity Instrument 5.05 % — — 2,260,000 8 years None None PICC Financing Plan (2nd) October 2019 Equity Instrument 5.10 % — — 1,740,000 10 years None None 2019 medium-term notes (4th) November 2019 Equity Instrument 4.15 % 0.1 25,000,000 2,500,000 3 years None None 2019 medium-term notes (4th) November 2019 Equity Instrument 4.53 % 0.1 15,000,000 1,500,000 5 years None None Bond C March 2020 Equity Instrument 3.58 % 0.1 20,000,000 2,000,000 3 years None None Bond D March 2020 Equity Instrument 3.85 % 0.1 10,000,000 1,000,000 5 years None None 2020 medium-term notes (1st) April 2020 Equity Instrument 3.18 % 0.1 30,000,000 3,000,000 3 years None None China Life Financing Plan (3rd) April 2020 Equity Instrument 4.75 % - - 3,570,000 8 years None None PICC Financing Plan (3rd) April 2020 Equity Instrument 4.75 % - - 930,000 10 years None None Bond E April 2020 Equity Instrument 3.09 % 0.1 25,000,000 2,500,000 3 years None None 2020 medium-term notes (2nd) June 2020 Equity Instrument 3.60 % 0.1 35,000,000 3,500,000 3 years None None 2020 medium-term notes (3rd) August 2020 Equity Instrument 3.99 % 0.1 20,000,000 2,000,000 3 years None None PICC Financing Plan (4th) August 2020 Equity Instrument 4.60 % - - 3,000,000 10 years None None Bond F September 2020 Equity Instrument 4.38 % 0.1 30,000,000 3,000,000 3 years None None 2020 medium-term notes (4th) September 2020 Equity Instrument 4.40 % 0.1 10,000,000 1,000,000 3 years None None Total 48,000,000 |
Changes of other equity instruments | As at 1 January 2020 Issuance Cumulative distributions As at 31 December 2020 Type of Instruments Accrued Distribution Redemption Redemption Number Amount Number Amount distribution payment value difference Number Amount RMB ’000 RMB ’000 RMB ’000 RMB ’000 RMB ’000 RMB ’000 RMB ’000 Bond A 25,000,000 2,533,780 — (131) 92,445 (126,250) (2,500,000) 156 — — Bond B 25,000,000 2,534,583 — — 129,345 (129,250) — — 25,000,000 2,534,678 Yingda Insurance Financing Plan (1st) — 3,288,808 — — 193,254 (193,254) — — — 3,288,808 Yingda Insurance Financing Plan (2nd) — 828,463 — — 48,681 (48,681) — — — 828,463 Yingda Insurance Financing Plan (3rd) — 891,575 — — 52,390 (52,390) — — — 891,575 China Life Financing Plan (1st) — 2,073,484 — — 106,277 (106,277) — — — 2,073,484 PICC Financing Plan (1st) — 930,922 — — 48,221 (48,221) — — — 930,922 2019 medium-term notes (2nd) 20,000,000 2,011,533 — — 81,646 (81,600) — — 20,000,000 2,011,579 2019 medium-term notes (3rd) 20,000,000 2,011,271 — — 81,041 (81,000) — — 20,000,000 2,011,312 China Life Financing Plan (2nd) — 2,263,804 — — 116,032 (116,032) — — — 2,263,804 PICC Financing Plan (2nd) — 1,741,726 — — 90,219 (90,219) — — — 1,741,726 2019 medium-term notes (4th) 25,000,000 2,511,441 — — 103,794 (103,750) — — 25,000,000 2,511,485 2019 medium-term notes (4th) 15,000,000 1,506,431 — — 67,979 (67,950) — — 15,000,000 1,506,460 Bond C — — 20,000,000 1,999,980 55,711 — — — 20,000,000 2,055,691 Bond D — — 10,000,000 999,990 29,956 — — — 10,000,000 1,029,946 2020 medium-term notes (1st) — — 30,000,000 2,981,135 68,741 — — — 30,000,000 3,049,876 China Life Financing Plan (3rd) — — - 3,570,000 120,587 (114,934) — — — 3,575,653 PICC Financing Plan (3rd) — — - 930,000 31,168 (30,309) — — — 930,859 Bond E — — 25,000,000 2,499,975 53,546 — — — 25,000,000 2,553,521 2020 medium-term notes (2nd) — — 35,000,000 3,484,124 67,660 — — — 35,000,000 3,551,784 2020 medium-term notes (3rd) — — 20,000,000 1,995,313 29,515 — — — 20,000,000 2,024,828 PICC Financing Plan (4th) — — - 3,000,000 48,683 (46,000) — — — 3,002,683 Bond F — — 30,000,000 2,999,970 40,680 — — — 30,000,000 3,040,650 2020 medium-term notes (4th) — — 10,000,000 997,094 12,898 — — — 10,000,000 1,009,992 Total 25,127,821 25,457,450 1,770,469 (1,436,117) (2,500,000) 156 48,419,779 |
Surplus reserves (Tables)
Surplus reserves (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Surplus reserves | |
Surplus reserves | As at 1 January 2020 and 31 December 2020 Surplus reserves 8,140,030 |
Long-term loans (Tables)
Long-term loans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Long-term loans | |
Long-term loans | As at 31 December 2020 2019 Loans from Huaneng Group and its subsidiaries (a) 7,031,664 5,403,574 Bank loans and other loans (b) 124,854,044 128,619,138 131,885,708 134,022,712 Less: Current portion of long-term loans 19,808,313 18,658,114 Total 112,077,395 115,364,598 |
Loans from Huaneng Group and its subsidiaries (a) | Details of loans from Huaneng Group and its subsidiaries are as follows: As at 31 December 2020 Original RMB Less: Current Non-current Annual currency equivalent portion portion interest rate ’000 Loans from Huaneng Group Unsecured RMB - Variable rate 666,190 666,190 24,530 641,660 4.75 % Loans from Huaneng Finance Unsecured RMB - Variable rate 4,281,432 4,281,432 468,800 3,812,632 3.67%-4.80 % - Fixed rate 317,515 317,515 26,200 291,315 4.02%-4.75 % Loans from Huaneng Tiancheng Financial Leasing Co., Ltd. (“Tiancheng Financial Leasing”) Secured RMB - Variable rate 633,258 633,258 100,040 533,218 4.42%-5.20 % - Fixed rate 89,060 89,060 — 89,060 5.10 % Loans from Hong Kong Asset Management Co., Ltd. (“Hong Kong Asset Management”) Unsecured US$ - Variable rate 160,035 1,044,209 — 1,044,209 2.30 % Total 7,031,664 619,570 6,412,094 23 Long-term loans (continued) (a) Loans from Huaneng Group and its subsidiaries (continued) As at 31 December 2019 Original RMB Less: Current Non-current Annual currency equivalent portion portion interest rate ’000 Loans from Huaneng Group Unsecured RMB - Variable rate 665,225 665,225 — 665,225 4.75 % Loans from Huaneng Finance Unsecured RMB - Variable rate 3,808,800 3,808,800 413,200 3,395,600 4.28%-4.75 % - Fixed rate 28,000 28,000 — 28,000 4.51%-4.61 % Loans from Tiancheng Financial Leasing Secured RMB - Variable rate 580,891 580,891 246,549 334,342 4.42%-5.20 % - Fixed rate 320,658 320,658 150,000 170,658 5.10%-6.60 % Total 5,403,574 809,749 4,593,825 |
Bank loans and other loans (b) | Details of bank loans and other loans are as follows: As at 31 December 2020 Original Less: Current Non-current Annual currency RMB equivalent portion portion interest rate ’000 Secured RMB - Fixed rate 302,677 302,677 — 302,677 4.66% - Variable rate 9,136,041 9,136,041 1,242,992 7,893,049 4.10%-4.98% S$ - Variable rate 120,999 596,693 14,119 582,574 1.42% Unsecured RMB - Fixed rate 2,805,767 2,805,767 316,715 2,489,052 4.02%-5.39% - Variable rate 96,118,275 96,118,275 16,355,517 79,762,758 1.80%-6.55% US$ - Variable rate 1,319,503 8,609,627 1,217,769 7,391,858 1.42%-4.73% S$ - Variable rate 1,430,286 7,053,310 — 7,053,310 1.85% € - Fixed rate 11,004 88,322 34,654 53,668 2.00%-2.15% JPY - Fixed rate 2,266,468 143,332 6,977 136,355 0.75% Total 124,854,044 19,188,743 105,665,301 23 Long-term loans (continued) (b) Bank loans and other loans (continued) As at 31 December 2019 Original Less: Current Non-current Annual currency RMB equivalent portion portion interest rate ’000 Secured RMB - Fixed rate 5,032,030 5,032,030 1,262,520 3,769,510 4.41%-4.90% - Variable rate 4,528,406 4,528,406 521,689 4,006,717 4.28%-4.90% S$ - Variable rate 79,371 410,658 — 410,658 2.93% Unsecured RMB - Fixed rate 7,477,712 7,477,712 1,803,335 5,674,377 2.65%-5.39% - Variable rate 88,504,897 88,504,897 12,691,426 75,813,471 1.80%-6.55% US$ - Variable rate 1,430,672 9,974,968 1,095,931 8,879,037 2.90%-6.82% S$ - Variable rate 2,400,063 12,417,684 431,622 11,986,062 3.33% € - Fixed rate 15,451 120,760 34,772 85,988 2.00%-2.15% JPY - Fixed rate 2,372,009 152,023 7,070 144,953 0.75% Total 128,619,138 17,848,365 110,770,773 |
Maturity of long-term loans | Loans from Huaneng Group Bank loans and its subsidiaries and other loans As at 31 December As at 31 December 2020 2019 2020 2019 1 year or less 619,570 809,749 19,188,743 17,848,365 More than 1 year but no more than 2 years 826,059 1,320,611 13,718,115 28,426,578 More than 2 years but no more than 5 years 2,799,377 1,583,453 45,708,377 48,138,639 More than 5 years 2,786,658 1,689,761 46,238,809 34,205,556 7,031,664 5,403,574 124,854,044 128,619,138 Less: amount due within 1 year included under current liabilities 619,570 809,749 19,188,743 17,848,365 Total 6,412,094 4,593,825 105,665,301 110,770,773 |
Long-term bonds (Tables)
Long-term bonds (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Long-term bonds | |
Outstanding corporate bonds, medium-term notes and debt financing instrument of the Group | Balance as at Foreign Foreign Balance as at Initial 31 December Issued Exchange Currency Interest 31 December Face Value Issuance Distribution Issue Price 2019 Amount Amortization Interest Repayment Gain Differences Payable 2020 Type of Instruments RMB’000 Date Initial Period Rate Effective Rate RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 2016 corporate bonds (5 years) 3,000,000 June 2016 5 years 3.48 % 3.48 % 3,000,000 3,000,072 — 62 104,400 — — — 57,778 3,057,912 2016 corporate bonds (10 years) 1,200,000 June 2016 10 years 3.98 % 3.98 % 1,200,000 1,199,985 — 12 47,760 — — — 26,432 1,226,429 2017 medium-term notes (5 years) 5,000,000 July 2017 5 years 4.69 % 4.90 % 5,000,000 5,001,878 — 965 234,500 — — — 111,146 5,113,989 2017 debt financing instrument (3 years) 500,000 July 2017 3 years 4.75 % 4.81 % 500,000 499,846 — 154 23,750 (500,000) — — — — 2017 corporate bonds (3 years) 2,300,000 November 2017 3 years 4.99 % 4.99 % 2,300,000 2,299,962 — 38 114,770 (2,300,000) — — — — 2018 corporate bonds (3 years) 1,500,000 April 2018 3 years 4.90 % 4.90 % 1,500,000 1,500,040 — 30 73,500 — — — 54,773 1,554,843 2018 medium-term notes (3 years) 3,000,000 May 2018 3 years 4.80 % 4.91 % 3,000,000 2,996,069 — 2,953 144,000 — — — 96,263 3,095,285 2018 medium-term notes (3 years) 2,000,000 July 2018 3 years 4.41 % 4.56 % 2,000,000 2,001,342 — 9 88,200 — — — 42,046 2,043,397 2018 debt financing instrument (3 years) 2,500,000 July 2018 3 years 4.68 % 4.81 % 2,500,000 2,495,547 — 2,929 117,000 — — — 50,967 2,549,443 2018 corporate bonds (10 years) 5,000,000 September 2018 10 years 5.05 % 5.05 % 5,000,000 4,999,993 — 30 252,500 — — — 78,171 5,078,194 2019 corporate bonds (10 years) 2,300,000 April 2019 10 years 4.70 % 4.70 % 2,300,000 2,299,990 — 14 108,100 — — — 74,930 2,374,934 2019 corporate bonds (3 years) 1,000,000 July 2019 3 years 3.55 % 3.55 % 1,000,000 1,000,007 — 17 35,500 — — — 17,118 1,017,142 2019 medium-term notes (3 years) 500,000 July 2019 3 years 3.55 % 3.65 % 500,000 498,759 — 488 17,750 — — — 8,073 507,320 2019 medium-term notes (5 years) 1,500,000 July 2019 5 years 3.85 % 3.96 % 1,500,000 1,493,433 — 1,445 57,750 — — — 26,264 1,521,142 2020 corporate bonds (5 years) 2,108,865 February 2020 5 years 2.25 % 2.32 % 2,108,865 — 2,108,865 (9,456) 40,838 — (23,160) (129,468) 16,383 1,963,164 2020 corporate bonds (10 years) 2,108,865 February 2020 10 years 2.63 % 2.72 % 2,108,865 — 2,108,865 (17,629) 47,644 — (23,160) (129,468) 19,114 1,957,722 Total 35,517,730 31,286,923 4,217,730 (17,939) 1,507,962 (2,800,000) (46,320) (258,936) 679,458 33,060,916 Balance as at Balance as at Initial 31 December Issued 31 December Face Value Issuance Distribution Issue Price 2018 Amount Interest Amortization Repayment 2019 Type of Instruments RMB’000 Date Initial Period Rate Effective Rate RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 2014 medium-term notes (5 years) 4,000,000 July 2014 5 years 5.30 % 5.37 % 4,000,000 3,993,479 — 112,679 6,521 (4,000,000) — 2016 corporate bonds (5 years) 3,000,000 June 2016 5 years 3.48 % 3.48 % 3,000,000 3,000,010 — 104,400 62 — 3,000,072 2016 corporate bonds (10 years) 1,200,000 June 2016 10 years 3.98 % 3.98 % 1,200,000 1,199,973 — 47,760 12 — 1,199,985 2017 medium-term notes (5 years) 5,000,000 July 2017 5 years 4.69 % 4.90 % 5,000,000 5,000,939 — 234,500 939 — 5,001,878 2017 debt financing instrument (3 years) 500,000 July 2017 3 years 4.75 % 4.81 % 500,000 499,563 — 23,750 283 — 499,846 2017 corporate bonds (3 years) 2,300,000 November 2017 3 years 4.99 % 4.99 % 2,300,000 2,299,916 — 114,770 46 — 2,299,962 2018 corporate bonds (3 years) 1,500,000 April 2018 3 years 4.90 % 4.90 % 1,500,000 1,500,010 — 73,500 30 — 1,500,040 2018 medium-term notes (3 years) 3,000,000 May 2018 3 years 4.80 % 4.91 % 3,000,000 2,993,135 — 144,000 2,934 — 2,996,069 2018 medium-term notes (3 years) 2,000,000 July 2018 3 years 4.41 % 4.56 % 2,000,000 1,998,518 — 88,200 2,824 — 2,001,342 2018 debt financing instrument (3 years) 2,500,000 July 2018 3 years 4.68 % 4.81 % 2,500,000 2,492,636 — 117,000 2,911 — 2,495,547 2018 corporate bonds (10 years) 5,000,000 September 2018 10 years 5.05 % 5.05 % 5,000,000 4,999,963 — 252,500 30 — 4,999,993 2019 corporate bonds (10 years) 2,300,000 April 2019 10 years 4.70 % 4.70 % 2,300,000 — 2,300,000 74,725 (10) — 2,299,990 2019 corporate bonds (3 years) 1,000,000 July 2019 3 years 3.55 % 3.55 % 1,000,000 — 1,000,000 17,071 7 — 1,000,007 2019 medium-term notes (3 years) 500,000 July 2019 3 years 3.55 % 3.65 % 500,000 — 500,000 8,051 (1,241) — 498,759 2019 medium-term notes (5 years) 1,500,000 July 2019 5 years 3.85 % 3.96 % 1,500,000 — 1,500,000 26,193 (6,567) — 1,493,433 Total 35,300,000 29,978,142 5,300,000 1,439,099 8,781 (4,000,000) 31,286,923 |
Other non-current liabilities (
Other non-current liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Other non-current liabilities | |
Other non-current liabilities | As at 31 December 2020 2019 Government grants -Environmental subsidies (a) 1,102,074 1,155,147 -Other government grants 324,325 306,077 Contract liabilities 2,623,764 2,443,254 Other deferred income 41,324 52,760 Others 758,058 888,809 Subtotal 4,849,545 4,846,047 Current portion of other non-current liabilities (65,277) (65,277) Subtotal (65,277) (65,277) Total 4,784,268 4,780,770 (a) This primarily represented subsidies for the construction of desulphurization equipment and other environmental protection projects. |
Accounts payable and other li_2
Accounts payable and other liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accounts payable and other liabilities | |
Accounts payable and other liabilities | As at 31 December 2020 2019 Accounts and notes payable 15,777,784 15,850,958 Payables to contractors for construction 18,734,201 12,695,720 Retention payables to contractors 1,530,764 1,537,024 Consideration payables for business acquisition (Note 39) 22,842 — Others 6,689,770 7,186,379 Total 42,755,361 37,270,081 |
Carrying amounts of financial liabilities denominated in currencies | As at 31 December 2020 2019 RMB 40,610,454 34,996,912 S$ (RMB equivalent) 948,817 1,024,453 US$ (RMB equivalent) 799,989 940,749 JPY (RMB equivalent) 12,293 12,564 EUR (RMB equivalent) 224 1,194 PKR (RMB equivalent) 383,584 294,209 Total 42,755,361 37,270,081 |
Ageing analysis of accounts and notes payable | As at 31 December 2020 2019 Within 1 year 15,514,112 15,435,470 Between 1 to 2 years 166,088 311,880 Over 2 years 97,584 103,608 Total 15,777,784 15,850,958 |
Taxes payable (Tables)
Taxes payable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Taxes payable | |
Taxes payable | As at 31 December 2020 2019 VAT payable 1,159,562 908,491 Income tax payable 288,106 748,957 Others 597,201 444,169 Total 2,044,869 2,101,617 |
Short-term bonds (Tables)
Short-term bonds (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Short-term bonds | |
Details of short-term bonds | Issuance Coupon Balance as at 31 Issued Balance as at 31 Face Value Date Maturity Issue Price Rate December 2018 Amount Interest Amortization Repayment 31 December 2019 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Super short-term bond (2018 11th) 2,500,000 October 2018 180 days 2,500,000 3.20 % 2,515,816 — 23,233 403 (2,539,452) — Super short-term bond (2018 12th) 2,000,000 November 2018 90 days 2,000,000 2.78 % 2,006,575 — 6,703 432 (2,013,710) — Super short-term bond (2018 13th) 2,000,000 November 2018 180 days 2,000,000 3.10 % 2,006,841 — 23,781 (47) (2,030,575) — Super short-term bond (2018 14th) 2,000,000 November 2018 180 days 2,000,000 3.05 % 2,005,323 — 23,564 1,195 (2,030,082) — Super short-term bond (2018 15th) 2,000,000 November 2018 90 days 2,000,000 2.78 % 2,004,557 — 8,531 622 (2,013,710) — Super short-term bond (2018 16th) 1,000,000 December 2018 270 days 1,000,000 3.30 % 1,002,342 — 22,060 9 (1,024,411) — Super short-term bond (2019 1st) 2,000,000 March 2019 90 days 2,000,000 2.40 % — 2,000,000 11,803 — (2,011,803) — Super short-term bond (2019 2nd) 5,000,000 May 2019 180 days 5,000,000 2.30 % — 5,000,000 56,557 — (5,056,557) — Super short-term bond (2019 3rd) 2,000,000 May 2019 90 days 2,000,000 2.30 % — 2,000,000 11,311 — (2,011,311) — Super short-term bond (2019 4th) 2,000,000 June 2019 90 days 2,000,000 2.40 % — 2,000,000 11,803 — (2,011,803) — Super short-term bond (2019 5th) 2,000,000 June 2019 90 days 2,000,000 2.40 % — 2,000,000 11,803 — (2,011,803) — Super short-term bond (2019 6th) 2,000,000 August 2019 90 days 2,000,000 2.20 % — 2,000,000 10,820 — (2,010,820) — Super short-term bond (2019 7th) 4,000,000 September 2019 60 days 4,000,000 2.20 % — 4,000,000 14,426 — (4,014,426) — Super short-term bond (2019 8th) 2,000,000 September 2019 90 days 2,000,000 2.15 % — 2,000,000 10,574 — (2,010,574) — Super short-term bond (2019 9th) 5,000,000 October 2019 180 days 5,000,000 2.09 % — 5,000,000 17,416 754 — 5,018,170 Super short-term bond (2019 10th) 2,000,000 November 2019 90 days 2,000,000 2.00 % — 2,000,000 5,902 196 — 2,006,098 Super short-term bond (2019 11th) 2,000,000 December 2019 60 days 2,000,000 1.80 % — 2,000,000 1,180 87 — 2,001,267 Total 41,500,000 11,541,454 30,000,000 271,467 3,651 (32,791,037) 9,025,535 |
Short-term loans (Tables)
Short-term loans (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Short-term loans [abstract] | |
Short-term loans | As at 31 December 2020 As at 31 December 2019 Original RMB Annual Original RMB Annual currency equivalent interest rate currency equivalent interest rate '000 '000 Secured RMB - Fixed rate 1,614,700 1,614,700 2.85%-4.77% 667,979 667,979 0.00%-4.20% - Variable rate 49,455 49,455 3.15%-3.96% — — — Unsecured RMB - Fixed rate 13,093,783 13,093,783 2.15%-4.75% 13,935,660 13,935,660 3.15%-4.35% - Variable rate 51,441,800 51,441,800 2.30%-4.37% 50,948,412 50,948,412 3.60%-4.79% US$ - Fixed rate 17,076 111,422 4.90% 200,000 1,394,304 3.32% PKR - Variable rate — — — 3,857,000 173,013 14.58% Total 66,311,160 67,119,368 |
Deferred income tax assets an_2
Deferred income tax assets and liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Deferred income tax assets and liabilities [abstract] | |
Deferred income tax assets and liabilities | As at 31 December 2020 2019 Deferred income tax assets before offsetting 3,607,935 3,844,143 Offset amount (908,540) (1,683,956) Deferred income tax assets after offsetting 2,699,395 2,160,187 Deferred income tax liabilities before offsetting (3,911,067) (4,821,747) Offset amount 908,540 1,683,956 Deferred income tax liabilities after offsetting (3,002,527) (3,137,791) (303,132) (977,604) |
Gross movement on deferred income tax accounts | 2020 2019 Beginning of the year (977,604) (1,583,574) Business combination (16,000) — Disposal of other equity instrument investments — 167,182 Credited to profit or loss (Note 32) 658,128 470,330 Credited/(charged) to other comprehensive income 1,751 (9,550) Currency translation differences 30,593 (21,992) End of the year (303,132) (977,604) |
Movements in deferred income tax assets without taking into consideration the offsetting | VAT refunds on purchases of Fair Amortization Provision for domestically Hedging value of land use impairment Accrued manufactured Unused Lease reserve losses rights loss Depreciation expenses equipment tax losses liabilities Others Total As at 1 January 2019 84,114 — 12,929 638,589 926,557 56,017 154,143 774,677 — 1,256,305 3,903,331 (Charged)/credited to profit or loss — — (493) 179,661 (86,022) 19,970 (25,433) (224,918) 965 18,298 (117,972) (Charged)/credited to other comprehensive income (24,966) 80,359 — — — — — — — — 55,393 Currency translation differences 2,228 — — 690 — — — — — 473 3,391 As at 31 December 2019 61,376 80,359 12,436 818,940 840,535 75,987 128,710 549,759 965 1,275,076 3,844,143 (Charged)/credited to profit or loss — — (493) (84,470) 107,634 (2,439) (25,424) (146,025) 1,845 (81,907) (231,279) (Charged)/credited to other comprehensive income (42,245) 43,564 — — — — — — — — 1,319 Currency translation differences (2,121) — — (423) — — — — — (3,704) (6,248) As at 31 December 2020 17,010 123,923 11,943 734,047 948,169 73,548 103,286 403,734 2,810 1,189,465 3,607,935 |
Movements in deferred income tax liabilities without taking into consideration the offsetting | Amortization Power Territorial Fair value of land use generation Mining water Right-of- gains rights Depreciation license rights use right use assets Others Total As at 1 January 2019 (108,970) (982,445) (3,407,818) (682,543) (129,383) (2,409) — (173,337) (5,486,905) Disposal of other equity instrument investments 167,182 — — — — — — — 167,182 Credited/(charged) to profit or loss — 36,507 412,408 — — — (120) 139,507 588,302 Charged to other comprehensive income (64,943) — — — — — — — (64,943) Currency translation differences — (738) (1,781) (22,864) — — — — (25,383) As at 31 December 2019 (6,731) (946,676) (2,997,191) (705,407) (129,383) (2,409) (120) (33,830) (4,821,747) Business combination — — (16,000) — — — — — (16,000) Credited to profit or loss — 40,728 833,864 — — — (4,659) 19,474 889,407 Charged to other comprehensive income 432 — — — — — — — 432 Currency translation differences — (702) 4,483 33,060 — — — — 36,841 As at 31 December 2020 (6,299) (906,650) (2,174,844) (672,347) (129,383) (2,409) (4,779) (14,356) (3,911,067) |
Unrecognised deferred income tax assets in respect of certain deductible temporary differences and accumulated tax losses | As at 31 December 2020 2019 Deductible temporary differences 14,885,723 9,832,527 Unused tax losses 10,917,409 10,504,590 Total 25,803,132 20,337,117 |
Summary of expiry dates of the tax losses for which no deferred income tax assets were recognised | As at 31 December 2020 2019 Year of expiry 2020 — 1,452,554 2021 1,400,289 1,420,522 2022 2,124,756 2,208,635 2023 2,421,087 2,472,090 2024 2,966,842 2,950,789 2025 2,004,435 — Total 10,917,409 10,504,590 |
Income tax expense (Tables)
Income tax expense (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income tax expense | |
Income tax expense | For the year ended 31 December 2020 2019 2018 Current income tax expense 2,821,301 2,481,585 1,418,993 Deferred income tax (Note 30) (658,128) (470,330) (775,820) Total 2,163,173 2,011,255 643,173 |
Reconciliation of effective income tax rate from notional income tax rate | For the year ended 31 December 2020 2019 2018 PRC statutory enterprise income tax rate 25.00 % 25.00 % 25.00 % Effect of different tax rates of certain subsidiaries (13.88) % (7.33) % (3.56) % Utilisation of previously unrecognized tax losses and deductible temporary differences (5.50) % (6.00) % (2.66) % Unrecognized tax losses for the year 12.99 % 27.76 % 29.49 % Unrecognized deductible temporary differences 26.17 % 34.68 % 5.92 % Effect of non-taxable income (9.34) % (10.44) % (28.53) % Effect of non-deductible expenses 8.70 % 3.18 % 11.22 % Others 1.17 % (2.38) % (4.27) % Effective tax rate 45.31 % 64.47 % 32.61 % |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings per share | |
Earnings per share | For the year ended 31 December 2020 2019 2018 Consolidated net profit attributable to equity holders of the Company 2,377,851 766,345 734,435 Less: cumulative distribution of other equity instruments 1,770,469 685,922 342,349 Consolidated net profit attributable to ordinary shareholders of the Company 607,382 80,423 392,086 Weighted average number of the Company’s outstanding ordinary shares (’000) 15,698,093 15,698,093 15,283,335 Basic and diluted earnings per share (RMB) 0.04 0.01 0.03 |
Weighted average number of ordinary shares | 2020 2019 2018 ’000 ’000 ’000 Issued ordinary shares at 1 January 15,698,093 15,698,093 15,200,383 Effect of share issue — — 82,952 Weighted average number of ordinary shares at 31 December 15,698,093 15,698,093 15,283,335 |
Notes to the consolidated state
Notes to the consolidated statement of cash flows (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes to the consolidated statement of cash flows | |
Bank balances and cash | As at 31 December 2020 2019 2018 Total bank balances and cash 13,871,523 13,306,139 15,832,788 Add: Cash and cash equivalents transferred to disposal group — — 15,104 Less: Restricted cash 613,631 862,881 430,210 Cash and cash equivalents as at year end 13,257,892 12,443,258 15,417,682 |
Bank balances and cash denominated in currencies | As at 31 December 2020 2019 2018 RMB 12,200,948 10,649,660 14,389,435 S$(RMB equivalent) 776,703 1,243,481 927,395 US$(RMB equivalent) 462,560 716,233 482,666 Others 431,312 696,765 33,292 Total 13,871,523 13,306,139 15,832,788 |
Changes in the group's liabilities from financing activities | Cumulative distribution of other equity Lease Loans Bonds Accrued instruments liabilities Dividends Items (Notes 23,29) (Notes 24,28) interests (Note 20) (Note 41) payable As at 1 January 2020 201,142,080 40,312,458 1,276,703 77,106 4,712,670 1,191,036 (a) Business combination 878,997 — — — 91,595 — (b) Changes from financing cash flows: Proceeds from loans 168,677,805 — — — — — Repayment of loans (171,947,870) — — — — — Proceeds from new bonds — 24,217,730 — — — — Repayment of bonds — (26,800,000) — — — — Payment of lease liabilities — — — — (1,297,746) — Interest paid (7,976,843) (896,587) (1,276,703) (1,436,117) — — Dividends paid to shareholders of the Company — — — — — (2,119,243) Dividends paid to non-controlling interests of the subsidiaries — — — — — (1,702,511) Others — (35,283) — — — — (c) Exchange adjustments (847,434) (305,256) — — (66,099) — (d) Other changes: New leases — — — — 2,201,755 — Interest expenses 7,415,824 1,582,524 — — 202,264 — Accrued cumulative distribution of other equity instrument investments — — — 1,770,469 — — Capitalized borrowing costs 854,309 — — — 73,546 — Dividends relating to 2019 — — — — — 3,325,572 Early termination of lease — — — — (348,242) — Other — (11,793) — — (87,397) — As at 31 December 2020 198,196,868 38,063,793 — 411,458 5,482,346 694,854 Finance lease Loans in Cumulative payables/ disposal distribution of Lease Loans group held Bonds Accrued other equity liabilities Dividends Items (Notes 23,29) for sale (Notes 24,28) interests instruments (Note 41) payable As at 31 December 2018 211,207,782 297,400 41,519,596 1,152,767 8,846 1,442,174 1,267,833 Effect of adoption of IFRS 16 — — — — — 774,618 — As at 1 January 2019 (restated) 211,207,782 297,400 41,519,596 1,152,767 8,846 2,216,792 1,267,833 (a) Asset acquisitions 9,418 — — — — 602,257 — (b) Changes from financing cash flows: Proceeds from loans 119,800,321 498,000 — — — — — Repayment of loans (130,703,965) (213,400) — — — — — Proceeds from new bonds — — 35,300,000 — — — — Repayment of bonds — — (36,500,000) — — — — Payment of lease liabilities — — — — — (488,015) — Interest paid — — (291,040) (10,732,737) (617,662) — — Dividends paid to shareholders of the Company — — — — — — (1,569,809) Dividends paid to non-controlling interests of the subsidiaries — — — — — — (1,436,574) Others — — (29,075) — — — — (c) Exchange adjustments 811,524 — — — — (23,673) — (d) Other changes: New leases — — — — — 2,233,736 — Interest expenses — — 314,280 10,276,865 — 171,573 — Accrued cumulative distribution of other equity instrument investments — — — — 685,922 — — Capitalized borrowing costs — — — 579,808 — — — Dividends relating to 2018 — — — — — — 2,929,586 Disposal group held for sale — (582,000) — — — — — Others 17,000 — (1,303) — — — — As at 31 December 2019 201,142,080 — 40,312,458 1,276,703 77,106 4,712,670 1,191,036 Cumulative distribution Interest rate Accrued of other equity Finance leases swap contracts Items Loans Bonds interest instrument payables (liabilities) As at 1 January 2018 205,380,764 31,059,223 947,302 — 1,600,106 130,643 (a) Business combination 11,983,707 — 16,798 — 249,161 — (b) Changes from financing cash flows: Proceeds from new bank loans 126,001,437 — — — — — Repayment of bank loans (132,293,601) — — — — — Proceeds from new bonds — 54,000,000 — — — — Repayment of bonds — (43,500,000) — — — — Capital element of finance lease rentals paid — — — — (549,169) — Interest element of finance lease rentals paid — — — — (87,857) — Interest paid — (643,356) (10,011,011) (333,504) — — Others (20,466) (73,562) — — — — (c) Exchange adjustments 415,219 — 2,959 — (242) — (d) Changes in fair value — — — — — 18,474 (e) Other changes: New finance leases — — — — 34,911 — Interest expenses — 686,017 9,701,316 — 99,079 — Accrued cumulative distribution of other equity instrument investments — — — 342,350 — — Capitalized borrowing costs — — 495,818 — — — Transfer to a disposal group held for sale (297,400) — (415) — — — Others 38,122 (8,726) — — 96,185 — As at 31 December 2018 211,207,782 41,519,596 1,152,767 8,846 1,442,174 149,117 |
Total cash outflow for leases | For the year ended 31 December 2020 2019 Within financing activities* 1,297,746 488,015 Total 1,297,746 488,015 |
Related party balances and tr_2
Related party balances and transactions (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Related party balances and transactions [abstract] | |
Related parties of the Group that had transactions with the Group | Names of related parties Nature of relationship Huaneng Group Ultimate parent company HIPDC Parent company Huaneng (Tianjin) Coal Gasification Power Generation Co., Ltd. An associate of the Company and also a subsidiary of Huaneng Group Tiancheng Financial Leasing An associate of the Company and also a subsidiary of Huaneng Group Huaneng Supply Chain Platform Technology Co., Ltd. and its subsidiaries Associates of the Company and also subsidiaries of Huaneng Group Shanghai Leading Energy Shipping Ltd. An associate of the Company and also a subsidiary of Huaneng Group Huaneng Shidao Bay Nuclear Power Development Co., Ltd. An associate of the Company and also a subsidiary of Huaneng Group Huaneng Xiapu Nuclear Power Co., Ltd. An associate of the Company and also a subsidiary of Huaneng Group Huaneng Group Fuel Company and its subsidiaries Associates of the Company and also subsidiaries of Huaneng Group Huaneng Finance An associate of the Company and also a subsidiary of Huaneng Group Huaneng Changjiang Environmental Protection Technology Co., Ltd. An associate of the Company and also a subsidiary of Huaneng Group Yangquan Coal Industry Group Huaneng Coal Power Investment Co., Ltd. An associate of the Company Chongqing Huaneng Lime Company Limited An associate of the Company Jilin Zhanyu Wind Power Asset Management Co., Ltd. An associate of the Company Suzhou Sugao Renewables Service Co. Ltd. An associate of the Company Jiangyin Chengdongnan Thermal Power Co., Ltd. An associate of the Company Hainan Nuclear An associate of the Company Shandong Electric Power Trading Center An associate of the Company Shandong Lu Xin Energy Investment Management Co., Ltd. An associate of the Company Huaneng Yingkou Port Limited Liability Company A joint venture of the Company Huaneng Anyang Thermal Power Co., Ltd. A joint venture of the Company Luyi Power A joint venture of the Company Shanghai Time Shipping A joint venture of the Company Jiangsu Nantong Power A joint venture of the Company Jining Huayuan Thermal Power Co., Ltd. A joint venture of the Company Huaneng (Zhangzhou, Fujian) Energy Co., Ltd. A joint venture of the Company Yantai Gangneng Bulk Cargo Terminal Co., Ltd. A joint venture of the Company North United Power Corporation and its subsidiaries Subsidiaries of Huaneng Group Beijing Changping Huaneng Training Center A subsidiary of Huaneng Group Huaneng Hulunbuir Energy Development Company Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Tendering Co., Ltd. A subsidiary of Huaneng Group Huaneng Ningxia Energy Company Ltd. A subsidiary of Huaneng Group Huaneng Renewables Corporation Limited and its subsidiaries Subsidiaries of Huaneng Group Huaneng Songyuan Power Co., Ltd. A subsidiary of Huaneng Group Huaneng Nuclear Power Development Company Ltd. A subsidiary of Huaneng Group Huaneng Lancangjiang Hydropower Co., Inc. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Coal Business Sector Co., Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Gansu Energy Development Company Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Baishan Coal Gangue Power Generation Co., Ltd. A subsidiary of Huaneng Group Huaneng Carbon Assets Management Company Limited A subsidiary of Huaneng Group Huaneng Qinghai Power Generation Co., Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Property Co., Ltd. and its subsidiaries Subsidiaries of Huaneng Group 35 Related party balances and transactions (continued) The related parties of the Group that had transactions with the Group are as follows: (continued) Names of related parties Nature of relationship Huaneng Energy & Communications Holdings Co., Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Tibet Yarlung Zangbo River Hydropower Development & Investment Company Ltd.and its subsidiaries Subsidiaries of Huaneng Group Huaneng Xinjiang Energy Development Company Ltd. and its subsidiaries Subsidiaries of Huaneng Group Huaneng Capital Services and its subsidiaries Subsidiaries of Huaneng Group Huaneng Shaanxi Power Generation Limited and its subsidiaries Subsidiaries of Huaneng Group Huaneng Group Technology Innovation Center A subsidiary of Huaneng Group Alltrust Insurance Co., Ltd. A subsidiary of Huaneng Group Xi’an Thermal and its subsidiaries Subsidiaries of Huaneng Group Great Wall Securities Co., Ltd. (Great Wall Securities) A subsidiary of Huaneng Group Huaneng Group Clean Energy Technology Research Institute Co., Ltd. A subsidiary of Huaneng Group China Hua Neng Group Hong Kong Limited A subsidiary of Huaneng Group Huaneng Hainan Industry Co., Ltd. A subsidiary of Huaneng Group Huaneng Integrated Industries Management Co., Ltd. A subsidiary of Huaneng Group Huangtai #8 Power Plant An investee with significant influence Other government-related enterprises** Related parties of the Company * Transactions with subsidiaries of Huaneng Group which also are associates of the Group are presented as transactions with subsidiaries of Huaneng Group for Note 35(a) and 35(b). ** Huaneng Group is a state-owned enterprise. In accordance with the revised IAS 24 Related Party Disclosures, government-related enterprises, other than entities under Huaneng Group, which the PRC government has control, joint control or significant influence over, are also considered as related parties of the Group (“other government-related enterprises”). |
Cash deposits in related parties | As at 31 December 2020 2019 Deposits in Huaneng Finance - Savings deposits 8,067,854 9,529,586 |
Balances of accounts receivable, other receivables and assets and other non-current assets due from related parties | As at 31 December 2020 2019 Due from Huaneng Group 36,683 464,087 Due from joint ventures 390,324 106,251 Due from subsidiaries of Huaneng Group 156,422 125,288 Due from Huangtai #8 Power Plant 775,109 792,136 Total 1,358,538 1,487,762 |
Balances of accounts payable and other liabilities and other non-current liabilities due to related parties | As at 31 December 2020 2019 Due to Huaneng Group 382,571 285,725 Due to HIPDC 13,788 13,430 Due to joint ventures 150,357 120,153 Due to subsidiaries of Huaneng Group 9,730,905 5,762,265 Total 10,277,621 6,181,573 |
Related party transactions, procurement of goods and receiving services | For the year ended 31 December 2020 2019 2018 Huaneng Group Other purchases 415 570 506 HIPDC Technical services and engineering contracting services — — 7 Subsidiaries of Huaneng Group Purchase of coal and transportation services 35,412,425 32,623,831 23,873,672 Technical services and engineering contracting services 1,445,088 1,776,442 1,121,516 Purchase of equipment 378,382 52,802 176,506 Purchase of heat 45,520 61,080 69,527 Other purchases 51,240 46,627 260 Joint ventures of the Group Purchase of coal and transportation services 522,570 835,462 1,798,673 Entrusting other parties for power generation 23,611 — 10,127 Associates of the Group Technical services and engineering contracting services — — 3,812 Purchase of equipment 27,241 38,387 — Purchase of coal and transportation services 204,419 181,479 — Other purchases — 529 36,826 |
Related party transactions, sales of goods and providing services | For the year ended 31 December 2020 2019 2018 Huaneng Group Services provided 77,462 31,756 15,472 HIPDC Services provided 370 124 1,067 Other sales — — 2,534 Subsidiaries of Huaneng Group Sales of power generation quota — — 3,065 Sales of goods — — 637,059 Service provided 134,111 68,052 45,677 Other sales 48,574 2,922 11,399 Joint ventures of the Group Service provided 82,229 52,602 392,744 Other sales 8,404 25,102 45,997 Huangtai #8 Power Plant Service provided — — 2,830 |
Related party transactions, other related party transactions | For the year ended 31 December 2020 2019 2018 (1) Rental charge paid HIPDC 104,696 104,929 107,712 Subsidiaries of Huaneng Group 218,463 93,203 154,192 A joint venture of the Group — — 589 Huaneng Group 57 — — (2) Rental income received A joint venture of the Group 8,659 7,448 7,448 Subsidiaries of Huaneng Group 1,978 2,400 3,609 Huangtai #8 Power Plant 19,689 21,253 22,497 (3) Net loans received from/(repaid to) Subsidiaries of Huaneng Group 2,789,776 (11,369) (113,430) A joint venture of the Group — 150,000 — (4) Interest expense on loans Huaneng Group 30,306 30,224 32,037 A joint venture of the Group 6,591 4,374 — Subsidiaries of Huaneng Group 552,565 515,532 524,716 (5) Interest income on loans Joint ventures of the Group 4,339 3,747 3,540 An associate of the Group — — 6,639 (6) Provide entrusted loans* A joint venture of the Group 224,000 — — (7) Capital injection from a subsidiary of Huaneng Group A subsidiary of Huaneng Group 278,073 227,569 379,906 (8) Capital injection to Subsidiaries of Huaneng Group 94,500 94,770 320,680 Associates of the Group 185,261 43,427 142,579 Joint ventures of the Group 317,116 175,000 — 35 Related party balances and transactions (continued) (b) Related party transactions (continued) (iii) Other related party transactions (continued) For the year ended 31 December 2020 2019 2018 (9) Entrusted management fee Huaneng Group 14,370 12,340 15,000 (10) Trusteeship management income Huaneng Group 4,822 4,821 5,110 Huangtai #8 Power Plant 3,240 — — (11) Net proceeds received from an investee with significant influence Huangtai #8 Power Plant 9,822 41,328 60,246 (12) Profit compensation received Huaneng Group 457,727 550,832 615,013 (13) Acquisition consideration (Note 39) Subsidiaries of Huaneng Group 237,228 — 1,172,508 (14) Disposal consideration Subsidiaries of Huaneng Group — 1,050 — (15) Pre-construction cost paid by A subsidiary of Huaneng Group — — 90 (16) Finance lease payments received from A subsidiary of Huaneng Group — — 57,676 (17) Collateral received under a loan agreement An associate of the Group — — 96,902 * The entrusted loans were fully repaid in February 2021. |
Guarantees | As at 31 December 2020 2019 (i) Long-term loans guaranteed by - Huaneng Group 1,407,338 2,335,611 - HIPDC — 2,014,800 (ii) Short-term loans guaranteed by - Huaneng Group — 687,470 |
Pre-tax benefits and social insurance of key management personnel | For the year ended 31 December 2020 2019 2018 Salaries 9,373 6,881 6,754 Pension 1,329 1,262 1,292 Total 10,702 8,143 8,046 |
Related party capital commitments | As at 31 December 2020 2019 Subsidiaries of Huaneng Group 1,947,988 714,129 |
Related party investment commitment | As at 31 December 2020 2019 A joint venture of the Group — 31,116 |
Related party fuel purchase and transportation commitments | As at 31 December 2020 2019 Subsidiaries of Huaneng Group 1,519,364 2,174,241 A joint venture of the Group 131,810 143,614 |
Directors', supervisors' and _2
Directors', supervisors' and senior management's emoluments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Directors', supervisors' and senior management's emoluments [abstract] | |
Pre-tax benefits and social insurance of directors and supervisors | Performance Fees Basic salaries bonuses Pension Total Name of director Mr. Zhao Keyu 1,8 — 215 836 135 1,186 Mr. Zhaoping 2,8 — 212 789 123 1,124 Mr. Huang Jian — — — — — Mr. Wang Kui 2 — — — — — Mr. Lu Fei 2 — — — — — Mr. Teng Yu 2 — — — — — Mr. Mi Dabin — — — — — Mr. Cheng Heng — — — — — Mr. Li Haifeng 3 — — — — — Mr. Lin Chong — — — — — Mr. Xu Mengzhou 300 — — — 300 Mr. Liu Jizhen 300 — — — 300 Mr. Xu Haifeng 300 — — — 300 Mr. Zhang Xianzhi 300 — — — 300 Mr. Xia Qing 2 150 — — — 150 Mr. Shu Yinbiao 4 — — — — — Mr. Wang Yongxiang 5 — — — — — Mr. Guo Hongbo 6 — — — — — Mr. Yue Heng 5 150 — — — 150 Sub-total 1,500 427 1,625 258 3,810 Name of supervisor Mr. Li Shuqing 2 — — — — — Mr. Mu Xuan — — — — — Mr. Ye Cai 2 — — — — — Mr. Gu Jianguo — — — — — Ms. Zhang Xiaojun — 150 761 122 1,033 Mr. Xu Jianping 2 — 79 357 77 513 Mr. Ye Xiangdong 5 — — — — — Ms. Zhang Mengjiao 5 — — — — — Mr. Zhang Xiancheng 5 — 75 408 55 538 Sub-total — 304 1,526 254 2,084 Total 1,500 731 3,151 512 5,894 Performance Fees Basic salaries bonuses Pension Total Name of director Mr. Zhao Keyu 1 — — — — — Mr. Shu Yinbiao 4 — — — — — Mr. Cao Peixi 7 — — — — — Mr. Huang Jian — — — — — Mr. Wang Yongxiang — — — — — Mr. Mi Dabin — — — — — Mr. Guo Hongbo — — — — — Mr. Cheng Heng — — — — — Mr. Lin Chong — — — — — Mr. Yue Heng 300 — — — 300 Mr. Xu Mengzhou 300 — — — 300 Mr. Liu Jizhen 300 — — — 300 Mr. Xu Haifeng 300 — — — 300 Mr. Zhang Xianzhi 300 — — — 300 Sub-total 1,500 — — — 1,500 Name of supervisor Mr. Ye Xiangdong — — — — — Mr. Mu Xuan — — — — — Ms. Zhang Mengjiao — — — — — Mr. Gu Jianguo — — — — — Ms. Zhang Xiaojun — 150 529 131 810 Mr. Zhang Xiancheng — 154 529 131 814 Sub-total — 304 1,058 262 1,624 Total 1,500 304 1,058 262 3,124 Fees Basic salaries Performance salaries Pension Total Name of director Mr. Shu Yinbiao — — — — — Mr. Cao Peixi — — — — — Mr. Liu Guoyue — — — — — Mr. Fan Xiaxia — — — — — Mr. Huang Jian — — — — — Mr. Wang Yongxiang — — — — — Mr. Mi Dabin — — — — — Mr. Guo Hongbo — — — — — Mr. Cheng Heng — — — — — Mr. Lin Chong — — — — — Mr. Yue Heng 74 — — — 74 Mr. Xu Mengzhou 74 — — — 74 Mr. Liu Jizhen 74 — — — 74 Mr. Xu Haifeng 74 — — — 74 Mr. Zhang Xianzhi 74 — — — 74 Sub-total 370 — 370 Name of supervisor Mr. Ye Xiangdong — — — — — Mr. Mu Xuan — — — — — Ms. Zhang Mengjiao — — — — — Mr. Gu Jianguo — — — — — Ms. Zhang Xiaojun — 154 476 130 760 Mr. Zhu Daqing — 66 250 63 379 Mr. Zhang Xiancheng — 36 87 22 145 Sub-total — 256 813 215 1,284 Total 370 256 813 215 1,654 |
Five highest paid individuals | For the year ended 31 December 2020 2019 2018 Basic salaries 552 1,578 1,500 Performance bonuses 2,167 2,329 2,100 Pension 376 695 679 Total 3,095 4,602 4,279 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Commitments | |
Capital commitments related to the construction of existing power plants | As at 31 December 2020 2019 Contracted, but not provided 35,652,079 42,634,992 |
Commitments to make capital contributions to a joint venture | As at 31 December 2020 2019 A joint venture of the Group — 31,116 |
Fuel purchase commitments | As at 31 December 2020 Periods Purchase quantities Estimated unit costs (RMB) A government-related enterprise 2021-2039 2.8 million m 3 2.37/m 3 A government-related enterprise 2021-2023 991 million m 3 2.18/m 3 2021-2023 541 million m 3 2.52/m 3 2021-2023 450 million m 3 2.11/m 3 A government-related enterprise 2021-2026 222 million m 3 2.22/m 3 2021 40 million m 3 1.86/m 3 Other suppliers 2021 201.5-251.5 BBtu**/day approximately48,000/BBtu 2022 205.5-255.5 BBtu**/day approximately47,000/BBtu 2023 81.5-247.5 BBtu**/day approximately42,000/BBtu 2024-2028 42.4-81.5 BBtu**/day approximately38,000/BBtu 2029 42.4 BBtu**/day approximately28,000/BBtu As at 31 December 2019 Periods Purchase quantities Estimated unit costs (RMB) A government-related enterprise 2020-2039 2.8 million m 3 2.88 / m 3 A government-related enterprise 2020-2023 991 million m 3 2.31 / m 3 2020-2023 541 million m 3 2.19 / m 3 2020-2023 450 million m 3 2.25 / m 3 A government-related enterprise 2020-2026 200 million m 3 2.60 / m 3 Other suppliers 2020-2021 201.5-251.5BBtu**/day approximately 47,000/BBtu 2022 205.5-255.5BBtu**/day approximately 45,000/BBtu 2023 81.5-247.5 BBtu**/day approximately 41,000/BBtu 2024-2028 42.4-81.5 BBtu**/day approximately 37,000/BBtu 2029 42.4 BBtu**/day approximately 31,000/BBtu |
Business combination (Tables)
Business combination (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Business combination | |
Analysis of the cash flow of cash and cash equivalents in respect of the disposal of bankrupt subsidiary | Fair value recognized Notes on acquisition Assets Property, plant and equipment 722,076 Right-of-use assets 91,229 Other non-current assets 1,401 Other receivables and assets 60,038 Accounts receivable 153,644 Bank balances and cash 6,315 1,034,703 Liabilities Long-term loans (589,000) Lease liabilities (90,370) Deferred income tax liabilities 30 (9,213) Accounts payable and other liabilities (42,980) Taxes payable (20) Current portion of long-term loans (31,200) Current portion of lease liabilities (1,225) (764,008) Total identifiable net assets at fair value 270,695 Non-controlling interests (48,103) Goodwill on acquisition 14 5,828 Satisfied by cash 228,420 Acquisition date Cash consideration (228,420) Consideration to be paid (Note 26) 22,842 Cash and bank balances acquired 6,315 Net outflow of cash and cash equivalents included in cash flows from investing activities (199,263) Transaction costs of the acquisition included in cash flows from operating activities — (199,263) Fair value recognized on acquisition Assets Property, plant and equipment 39,130 Other receivables and assets 3,403 Accounts receivable 1,494 Bank balances and cash 1,657 45,684 Liabilities Accounts payable and other liabilities (36,390) (36,390) Total identifiable net assets at fair value 9,294 Gain on bargain purchase recognized in others in the consolidated statement of comprehensive income (741) Satisfied by cash 8,553 Acquisition date Cash consideration (8,553) Cash and bank balances acquired 1,657 Net outflow of cash and cash equivalents included in cash flows from investing activities (6,896) Transaction costs of the acquisition included in cash flows from operating activities — (6,896) Fair value recognized Note on acquisition Assets Property, plant and equipment 231,278 Right-of-use assets 31,643 Other non-current assets 241 Other receivables and assets 205 Accounts receivable 44,812 308,179 Liabilities Long-term loans (258,000) Deferred income tax liabilities (6,787) Accounts payable and other liabilities (49,924) (314,711) Total identifiable net assets at fair value (6,532) Goodwill on acquisition 14 6,787 Satisfied by cash 255 Acquisition date Cash consideration (255) Cash and bank balances acquired — Net outflow of cash and cash equivalents included in cash flows from investing activities (255) Transaction costs of the acquisition included in cash flows from operating activities — (255) |
Non-controlling interests (Tabl
Non-controlling interests (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Non-controlling interests | |
Information relating to each of the Company and subsidiaries that have material non-controlling interests ("NCI") | Other individually Qinbei Beijing Luohuang Weihai Jinling Yueyang Shidongkou Yangliuqing Shandong immaterial Power Co-generation Power Power Power Power Power Co-generation Power subsidiaries Total NCI percentage 40 % 59 % 40 % 40 % 40 % 45 % 50 % 45 % 20 % 31 December 2020 Non-current assets 8,218,373 5,849,233 3,316,087 3,709,929 4,088,251 4,074,135 2,978,015 2,449,103 52,936,475 Current assets 1,334,506 1,125,151 1,241,707 637,757 576,992 1,264,211 418,832 610,494 11,381,268 Non-current liabilities (1,355,645) (68,685) (189,516) (119,088) (694,913) (659,387) (529,136) (197,615) (25,501,838) Current liabilities (5,026,519) (1,232,536) (1,872,962) (1,463,315) (1,627,035) (2,112,026) (1,069,893) (842,820) (26,380,853) Net assets 3,170,715 5,673,163 2,495,316 2,765,283 2,343,295 2,566,933 1,797,818 2,019,162 12,435,052 Carrying amount of NCI 1,282,201 3,347,198 977,108 1,106,113 937,340 1,171,281 898,909 907,727 4,596,984 6,545,414 21,770,275 Revenue 4,472,279 5,607,020 2,703,231 2,775,206 3,168,617 3,591,193 2,178,367 1,846,175 26,904,777 Net (loss)/profit (78,226) 505,190 77,521 83,607 315,837 294,258 355,890 32,950 (4,014,417) Total comprehensive (loss)/ income (78,226) 505,190 77,521 83,607 315,837 294,258 355,890 32,950 (4,313,258) (Loss)/profit allocated to NCI (31,290) 298,062 31,008 33,443 126,335 132,416 177,945 14,828 (802,883) 252,848 232,712 Other comprehensive loss allocated to NCI - — — — — — — — (59,769) (132,889) (192,658) Cash flows from operating activities 1,302,559 1,037,909 575,857 608,917 706,320 1,151,257 736,958 329,025 7,836,378 Cash flows from investment activities (234,425) (421,456) (137,178) (61,691) (100,610) 13,049 (38,695) (80,191) (4,652,029) Cash flows from financing activities (1,029,306) (704,705) (403,026) (519,433) (645,027) (714,838) (719,372) (256,335) (3,179,760) Net increase/(decrease) in cash and cash equivalents 38,828 (88,252) 35,653 27,793 (39,317) 449,468 (21,109) (7,501) 4,589 Dividends paid to NCI — 376,787 40,000 — 95,666 185,661 113,705 — 101,296 Other individually Qinbei Beijing Luohuang Weihai Jinling Yueyang Shidongkou Yangliuqing Shandong immaterial Power Co-generation Power Power Power Power Power Co-generation Power subsidiaries Total NCI percentage 40 % 59 % 40 % 40 % 40 % 45 % 50 % 45 % 20 % 31 December 2019 Non-current assets 9,086,939 6,264,852 3,649,432 3,981,753 4,432,195 4,320,232 3,255,810 2,421,307 57,881,917 Current assets 1,317,076 852,059 1,134,889 629,370 459,849 1,426,960 465,772 721,617 11,225,955 Non-current liabilities (2,249,675) (53,494) (205,085) (34,495) (1,136,398) (701,135) (488,350) (378,478) (29,027,404) Current liabilities (4,905,399) (1,257,150) (2,061,440) (1,894,952) (1,489,022) (2,368,204) (1,563,894) (778,235) (23,441,038) Net assets 3,248,941 5,806,267 2,517,796 2,681,676 2,266,624 2,677,853 1,669,338 1,986,211 16,639,430 Carrying amount of NCI 1,313,492 3,425,774 986,100 1,072,670 906,671 1,220,746 834,669 892,899 5,591,178 5,331,112 21,575,311 Revenue 4,787,221 5,579,382 2,833,807 3,045,352 3,099,014 4,005,328 2,055,168 1,945,841 28,274,364 Net profit/(loss) 30,270 705,311 64,093 193,754 265,457 453,869 216,595 59,733 (430,222) Total comprehensive income/(loss) 30,270 705,311 64,093 193,754 265,457 453,869 216,595 59,733 (675,666) Profit/(loss) allocated to NCI 12,108 416,133 25,637 77,502 106,183 204,241 108,298 26,880 (86,044) (549,078) 341,860 Other comprehensive loss allocated to NCI — — — — — — — — (49,089) (111,692) (160,781) Cash flows from operating activities 667,432 1,623,975 360,226 273,607 821,975 689,723 655,910 171,531 7,066,137 Cash flows from investment activities (205,703) (273,374) (101,279) (95,699) (128,541) (163,584) (86,427) (16,465) (2,787,419) Cash flows from financing activities (613,468) (1,329,614) (247,546) (260,953) (792,266) (503,852) (582,452) (167,846) (2,673,351) Net (decrease)/increase in cash and cash equivalents (166,994) 20,987 11,401 (94,821) (98,832) 22,287 (12,969) (12,780) (414,221) Dividends paid to NCI — 625,886 — 124,000 130,566 45,000 65,000 48,585 84,156 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Leases | |
Carrying amounts and movements of right-of-use assets | Right-of-use assets Electric utility Trans- plant in portation Land use Buildings service facilities rights* Others Total As at 1 January 2019 320,591 1,387,258 826 11,810,054 339,501 13,858,230 Additions 109,321 2,643,363 — 1,270,033 477,353 4,500,070 Depreciation charge (21,983) (233,218) (16,967) (496,464) (12,986) (781,618) Disposals/write-off — — — (431,813) — (431,813) Reclassification (265,167) — 229,292 375,376 (339,501) — Currency translation differences 552 3,090 (6,730) 26,291 — 23,203 As at 31 December 2019 143,314 3,800,493 206,421 12,553,477 464,367 17,168,072 |
Carrying amounts and movements of lease liabilities | As at 31 December 2020 2019 Carrying amount at 1 January 4,712,670 2,216,792 New leases 2,201,755 2,835,993 Business Combination (Note 39) 91,595 — Accretion of interest recognized during the year 275,810 171,573 Currency translation differences (66,099) (23,673) Payments (1,385,143) (488,015) Early termination (348,242) — Carrying amount at 31 December 5,482,346 4,712,670 Analyzed into: Current portion 1,676,711 432,745 Non-current portion 3,805,635 4,279,925 |
Maturity analysis of lease liabilities | As at 31 December 2020 2019 Within 1 year 1,676,711 432,745 After 1 year but within 2 years 464,403 1,323,826 After 2 years but within 3 years 269,060 332,986 After 3 years 3,072,172 2,623,113 Total 5,482,346 4,712,670 |
Leases recognized in profit or loss | As at 31 December 2020 2019 Interest on lease liabilities 202,264 171,573 Depreciation charge of right-of-use assets 785,518 734,827 Expense relating to short-term leases 103,817 231,651 Expense relating to leases of low-value assets 2,214 2,488 Total amount recognized in profit 1,093,813 1,140,539 |
Maturity analysis of finance lease receivables | As at 31 December 2020 2019 Within 1 year 1,924,763 2,172,707 After 1 year but within 2 years 1,925,641 2,156,047 After 2 years but within 3 years 1,928,125 2,146,481 After 3 years but within 4 years 1,939,174 2,132,394 After 4 years but within 5 years 1,969,470 2,163,914 After 5 years 17,921,037 21,184,829 Total undiscounted finance lease payments 27,608,210 31,956,372 Unearned finance income (17,694,886) (20,949,750) Allowance for ECL (2,925) (3,086) Total finance lease receivables as at 31 December 9,910,399 11,003,536 |
Maturity analysis of operating lease payments | As at 31 December 2020 2019 Within 1 year 11,652 28,143 After 1 year but within 2 years 3,701 27,867 After 2 years but within 3 years 2,161 27,695 After 3 years but within 4 years 1,021 27,617 After 4 years but within 5 years 525 27,645 After 5 years 3,020 16,974 Total 22,080 155,941 |
Principal accounting policies_3
Principal accounting policies (Basis of preparation) (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Principal accounting policies | ||
Net current liabilities | ¥ 87,910 | ¥ 80,839 |
Undrawn available banking facilities | ¥ 305,100 |
Principal accounting policies_4
Principal accounting policies (Lease liabilities are as at beginning of period reconciled to the operating lease commitments as at end of last period) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Principal accounting policies | |||
Lease liabilities as at 1 January 2019 | ¥ 5,482,346 | ¥ 4,712,670 | ¥ 2,216,792 |
Principal accounting policies_5
Principal accounting policies (Property, plant and equipment) (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Dams [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property plant and equipment | 8 - 50 years |
Port facilities [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property plant and equipment | 20 - 40 years |
Buildings | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property plant and equipment | 8 - 30 years |
Electric utility plant in service | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property plant and equipment | 5 - 30 years |
Vehicles [member] | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property plant and equipment | 8 - 27 years |
Others | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful lives of property plant and equipment | 5 - 14 years |
Principal accounting policies_6
Principal accounting policies (Taxation) (Detail) - CNY (¥) ¥ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2020 | |
Taxation [line items] | |||
Deferred tax assets and liabilities recognized | ¥ 0 | ||
Deferred tax assets and liabilities temporary differences | ¥ 0 | ||
SINGAPORE | |||
Taxation [line items] | |||
Tax rate of goods and service tax | 7.00% | ||
Sales of power [member] | PRC | |||
Taxation [line items] | |||
Tax rates of VAT | 16.00% | 13.00% | |
Sales of power [member] | PAKISTAN | |||
Taxation [line items] | |||
Tax rate of goods and service tax | 17.00% | ||
Sales of heat [member] | PRC | |||
Taxation [line items] | |||
Tax rates of VAT | 10.00% | 9.00% | |
Sales of goods [member] | PRC | |||
Taxation [line items] | |||
Tax rates of VAT | 16.00% | 13.00% | |
Lease of tangible movable properties [member] | PRC | |||
Taxation [line items] | |||
Tax rates of VAT | 16.00% | 13.00% | |
Transportation industry [member] | PRC | |||
Taxation [line items] | |||
Tax rates of VAT | 10.00% | 9.00% | |
Other modern services industry [member] | PRC | |||
Taxation [line items] | |||
Tax rates of VAT | 6.00% | ||
Capacity payment | PAKISTAN | |||
Taxation [line items] | |||
Tax rate of goods and service tax | 0.00% | ||
Operation and maintenance services | PAKISTAN | |||
Taxation [line items] | |||
Tax rate of goods and service tax | 16.00% |
Principal accounting policies_7
Principal accounting policies (Right-of-use assets) (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Buildings | |
Disclosure of detailed information about right-of-use assets [line items] | |
Estimated useful lives of right-of-use assets | 3 - 10 years |
Electric utility plant in service | |
Disclosure of detailed information about right-of-use assets [line items] | |
Estimated useful lives of right-of-use assets | 3 - 12 years |
Transportation facilities | |
Disclosure of detailed information about right-of-use assets [line items] | |
Estimated useful lives of right-of-use assets | 3 years |
Land use rights | |
Disclosure of detailed information about right-of-use assets [line items] | |
Estimated useful lives of right-of-use assets | 10 - 50 years |
Others [member] | |
Disclosure of detailed information about right-of-use assets [line items] | |
Estimated useful lives of right-of-use assets | 5 - 15 years |
Principal accounting policies_8
Principal accounting policies (Short-term leases and leases of low-value assets) (Detail) | Dec. 31, 2020CNY (¥) |
Principal accounting policies | |
Maximum low-value assets applying recognition exemption for leases | ¥ 30,000 |
Financial and capital risks m_3
Financial and capital risks management (Foreign exchange risk) (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Presented currency weakened by 5% against foreign currency [member] | Presented currency RMB to foreign currency USD [member] | ||
Financial and capital risks management [line items] | ||
Adjusted amount of exchange loss/gain to be further recognised | ¥ (51) | ¥ (77) |
Presented currency weakened by 5% against foreign currency [member] | Presented currency PKR to foreign currency USD [member] | ||
Financial and capital risks management [line items] | ||
Adjusted amount of exchange loss/gain to be further recognised | 78 | 3 |
Presented currency strengthened by 5% against foreign currency [member] | Presented currency RMB to foreign currency USD [member] | ||
Financial and capital risks management [line items] | ||
Adjusted amount of exchange loss/gain to be further recognised | 77 | 98 |
Presented currency strengthened by 5% against foreign currency [member] | Presented currency PKR to foreign currency USD [member] | ||
Financial and capital risks management [line items] | ||
Adjusted amount of exchange loss/gain to be further recognised | (3) | (47) |
Presented currency weakened by 3% against foreign currency [member] | Presented currency RMB to foreign currency EUR [member] | ||
Financial and capital risks management [line items] | ||
Adjusted amount of exchange loss/gain to be further recognised | (4) | (5) |
Presented currency strengthened by 3% against foreign currency [member] | Presented currency RMB to foreign currency EUR [member] | ||
Financial and capital risks management [line items] | ||
Adjusted amount of exchange loss/gain to be further recognised | 3 | 4 |
Presented currency weakened by 10% against foreign currency [member] | Presented currency SGD to foreign currency USD [member] | ||
Financial and capital risks management [line items] | ||
Adjusted amount of exchange loss/gain to be further recognised | (39) | 39 |
Presented currency strengthened by 10% against foreign currency [member] | Presented currency SGD to foreign currency USD [member] | ||
Financial and capital risks management [line items] | ||
Adjusted amount of exchange loss/gain to be further recognised | ¥ 418 | ¥ (6) |
Financial and capital risks m_4
Financial and capital risks management (Cash flow interest rate risk) (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
50 basis points higher of interest rates on borrowings [member] | RMB | ||
Financial and capital risks management [line items] | ||
Interest expense for the year higher/lower | ¥ 812 | ¥ 746 |
50 basis points higher of interest rates on borrowings [member] | US$ | ||
Financial and capital risks management [line items] | ||
Interest expense for the year higher/lower | 48 | 57 |
50 basis points lower of interest rates on borrowings [member] | RMB | ||
Financial and capital risks management [line items] | ||
Interest expense for the year higher/lower | (746) | (786) |
50 basis points lower of interest rates on borrowings [member] | US$ | ||
Financial and capital risks management [line items] | ||
Interest expense for the year higher/lower | (57) | (54) |
100 basis points higher of interest rates on borrowings [member] | S$ | ||
Financial and capital risks management [line items] | ||
Interest expense for the year higher/lower | 70 | 79 |
100 basis points lower of interest rates on borrowings [member] | S$ | ||
Financial and capital risks management [line items] | ||
Interest expense for the year higher/lower | ¥ (79) | ¥ (74) |
Financial and capital risks m_5
Financial and capital risks management (Credit risk) (Detail) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥)kWh | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Financial and capital risks management [line items] | |||
Minimum monthly consumption of electricity of retail customer | kWh | 2,000 | ||
Loss allowance recognized | ¥ 172,711 | ¥ 74,557 | ¥ 40,967 |
Ruyi Pakistan Energy [member] | |||
Financial and capital risks management [line items] | |||
Loss allowance recognized | ¥ 68,000 | ||
Government of Pakistan [member] | |||
Financial and capital risks management [line items] | |||
Risk of default | 0.03% | ||
CPPA-G [member] | |||
Financial and capital risks management [line items] | |||
ECLs relating to the finance lease receivables recognised during the year | ¥ 90 |
Financial and capital risks m_6
Financial and capital risks management (Accounts receivable and contract assets) (Detail) ¥ in Thousands | Dec. 31, 2020CNY (¥) |
Financial and capital risks management [line items] | |
Gross carrying amount of accounts receivable and contract assets | ¥ 38,401,322 |
Loss allowance | 155,929 |
Current [member] | |
Financial and capital risks management [line items] | |
Gross carrying amount of accounts receivable and contract assets | 35,854,768 |
Within 1 year | |
Financial and capital risks management [line items] | |
Gross carrying amount of accounts receivable and contract assets | 2,327,113 |
Loss allowance | 7,394 |
1 - 3 years past due [member] | |
Financial and capital risks management [line items] | |
Gross carrying amount of accounts receivable and contract assets | 91,370 |
Loss allowance | 24,275 |
Over 3 years | |
Financial and capital risks management [line items] | |
Gross carrying amount of accounts receivable and contract assets | 128,071 |
Loss allowance | ¥ 124,260 |
Financial and capital risks m_7
Financial and capital risks management (Other receivables) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financial and capital risks management [line items] | ||
Gross carrying amount | ¥ 2,285,688 | |
Loss allowance | 187,675 | ¥ 52,531 |
Current [member] | ||
Financial and capital risks management [line items] | ||
Gross carrying amount | 2,244,414 | |
Loss allowance | 150,898 | |
Over 3 years | ||
Financial and capital risks management [line items] | ||
Gross carrying amount | 41,274 | |
Loss allowance | ¥ 36,777 |
Financial and capital risks m_8
Financial and capital risks management (Fair value measurements) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financial and capital risks management [line items] | ||
Assets | ¥ 449,904,658 | ¥ 428,250,063 |
Liabilities | 298,288,460 | 297,871,017 |
Contingent consideration from Huaneng Group recorded in other receivables and assets | 458,000 | |
Recurring fair value measurement [member] | ||
Financial and capital risks management [line items] | ||
Assets | 2,105,567 | 2,692,811 |
Liabilities | 295,001 | 450,708 |
Recurring fair value measurement [member] | Financial liabilities at fair value through profit or loss, Trading derivatives (Note 13) [member] | ||
Financial and capital risks management [line items] | ||
Liabilities | 2,987 | |
Recurring fair value measurement [member] | Derivatives used for hedging (Note 13) [member] | ||
Financial and capital risks management [line items] | ||
Liabilities | 295,001 | 447,721 |
Recurring fair value measurement [member] | Financial assets at fair value through profit or loss, Trading derivatives (Note 13) [member] | ||
Financial and capital risks management [line items] | ||
Assets | 4,601 | |
Recurring fair value measurement [member] | Contingent consideration [member] | ||
Financial and capital risks management [line items] | ||
Assets | 457,727 | |
Recurring fair value measurement [member] | Accounts Receivable at fair value through other comprehensive income [member] | ||
Financial and capital risks management [line items] | ||
Assets | 1,255,888 | 1,364,579 |
Recurring fair value measurement [member] | Derivatives used for hedging (Note 13) [member] | ||
Financial and capital risks management [line items] | ||
Assets | 184,733 | 86,686 |
Recurring fair value measurement [member] | Other equity instrument investments [member] | ||
Financial and capital risks management [line items] | ||
Assets | 664,946 | 779,218 |
Recurring fair value measurement [member] | Level 1 [member] | ||
Financial and capital risks management [line items] | ||
Assets | 6,662 | 8,390 |
Recurring fair value measurement [member] | Level 1 [member] | Other equity instrument investments [member] | ||
Financial and capital risks management [line items] | ||
Assets | 6,662 | 8,390 |
Recurring fair value measurement [member] | Level 2 [member] | ||
Financial and capital risks management [line items] | ||
Assets | 1,440,621 | 1,455,866 |
Liabilities | 295,001 | 450,708 |
Recurring fair value measurement [member] | Level 2 [member] | Financial liabilities at fair value through profit or loss, Trading derivatives (Note 13) [member] | ||
Financial and capital risks management [line items] | ||
Liabilities | 2,987 | |
Recurring fair value measurement [member] | Level 2 [member] | Derivatives used for hedging (Note 13) [member] | ||
Financial and capital risks management [line items] | ||
Liabilities | 295,001 | 447,721 |
Recurring fair value measurement [member] | Level 2 [member] | Financial assets at fair value through profit or loss, Trading derivatives (Note 13) [member] | ||
Financial and capital risks management [line items] | ||
Assets | 4,601 | |
Recurring fair value measurement [member] | Level 2 [member] | Accounts Receivable at fair value through other comprehensive income [member] | ||
Financial and capital risks management [line items] | ||
Assets | 1,255,888 | 1,364,579 |
Recurring fair value measurement [member] | Level 2 [member] | Derivatives used for hedging (Note 13) [member] | ||
Financial and capital risks management [line items] | ||
Assets | 184,733 | 86,686 |
Recurring fair value measurement [member] | Level 3 [member] | ||
Financial and capital risks management [line items] | ||
Assets | 658,284 | 1,228,555 |
Recurring fair value measurement [member] | Level 3 [member] | Contingent consideration [member] | ||
Financial and capital risks management [line items] | ||
Assets | 457,727 | |
Recurring fair value measurement [member] | Level 3 [member] | Other equity instrument investments [member] | ||
Financial and capital risks management [line items] | ||
Assets | ¥ 658,284 | ¥ 770,828 |
Financial and capital risks m_9
Financial and capital risks management (Summary of significant unobservable inputs to the valuation of financial instruments together with a quantitative sensitivity analysis) (Detail) - At fair value [member] | 12 Months Ended |
Dec. 31, 2020 | |
Average P/E | |
Financial and capital risks management [line items] | |
Range | 2020: 12.60 to 13.86 |
Sensitivity of fair value to the input | 10% increase/decrease in multiple would result in increase/decrease in fair value by RMB2.44 million. |
Discount for lack of marketability [member] | |
Financial and capital risks management [line items] | |
Range | 2020: 21.33% to 28.65% |
Sensitivity of fair value to the input | 10% increase/decrease in multiple would result in decrease/increase in fair value by RMB20.39 million. |
Unlisted securities [member] | Average P/B [member] | |
Financial and capital risks management [line items] | |
Range | 2020: 1.06 to 1.17 |
Sensitivity of fair value to the input | 10% increase/decrease in multiple would result in increase/decrease in fair value by RMB57.88 million. |
Financial and capital risks _10
Financial and capital risks management (Transfer between levels of fair value hierarchy) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Financial and capital risks management | ||
Transfers out of Level 1 into Level 2 of fair value hierarchy, assets held at end of reporting period | ¥ 0 | ¥ 0 |
Transfers out of Level 2 into Level 1 of fair value hierarchy, assets held at end of reporting period | 0 | 0 |
Transfers into Level 3 of fair value hierarchy, assets | 0 | 0 |
Transfers out of Level 3 of fair value hierarchy, assets | 0 | 0 |
Transfers out of Level 1 into Level 2 of fair value hierarchy, liabilities held at end of reporting period | 0 | 0 |
Transfers out of Level 2 into Level 1 of fair value hierarchy, liabilities held at end of reporting period | 0 | 0 |
Transfers into Level 3 of fair value hierarchy, liabilities | 0 | 0 |
Transfers out of Level 3 of fair value hierarchy, liabilities | ¥ 0 | ¥ 0 |
Financial and capital risks _11
Financial and capital risks management (Movements of contingent consideration during the period in the balance of the Level 3 fair value measurements) (Detail) - Recurring fair value measurement [member] - Level 3 [member] - Contingent consideration [member] - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Financial and capital risks management [line items] | ||
Beginning of the year | ¥ 457,727 | ¥ 991,383 |
Movement: | ||
Gains on fair value changes | 17,175 | |
Profit compensation received from Huaneng Group | (457,727) | (550,831) |
End of the year | ¥ 457,727 | 457,727 |
Total gains for the year included in profit or loss for assets held at the end of the reporting period | ¥ 17,175 |
Financial and capital risks _12
Financial and capital risks management (Movements of other equity instrument investments during the period in the balance of the Level 3 fair value measurements) (Detail) - Recurring fair value measurement [member] - Level 3 [member] - Other equity instrument investments [member] - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Financial and capital risks management [line items] | ||
Beginning of the year | ¥ 770,828 | ¥ 2,074,861 |
Addition | 61,713 | 7,450 |
Disposal | (1,250,000) | |
Fair value changes | (174,257) | (61,483) |
End of the year | 658,284 | 770,828 |
Changes in fair value recognised in other comprehensive income for the year | ¥ (130,692) | ¥ (46,113) |
Financial and capital risks _13
Financial and capital risks management (Fair value disclosures) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Financial and capital risks management [line items] | ||
Liabilities | ¥ 298,288,460 | ¥ 297,871,017 |
Long-term loans [member] | ||
Financial and capital risks management [line items] | ||
Liabilities | 131,890,000 | 134,020,000 |
Long-term bonds [member] | ||
Financial and capital risks management [line items] | ||
Liabilities | 33,060,000 | 31,290,000 |
At fair value [member] | Long-term loans [member] | ||
Financial and capital risks management [line items] | ||
Liabilities | 131,720,000 | 133,790,000 |
At fair value [member] | Long-term bonds [member] | ||
Financial and capital risks management [line items] | ||
Liabilities | ¥ 33,120,000 | ¥ 31,640,000 |
Financial and capital risks _14
Financial and capital risks management (Capital risk management) (Detail) | Dec. 31, 2020 | Dec. 31, 2019 |
Financial and capital risks management | ||
Debt ratio of the Company and its subsidiaries | 66.30% | 69.55% |
Revenue and segment informati_3
Revenue and segment information (Disclosure of disaggregation of revenue) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | ¥ 169,446,338 | ¥ 174,009,401 | ¥ 169,550,624 |
External revenue [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 169,446,338 | 174,009,401 | 169,550,624 |
Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 169,446,338 | 174,009,401 | 169,550,624 |
Revenue from contracts with customers within the scope of IFRS15 | 167,816,084 | 172,157,998 | 169,467,647 |
Revenue from other sources | 1,630,254 | 1,851,403 | 82,977 |
Intersegment revenue [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | (430,614) | (468,181) | (471,902) |
PRC power segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 157,326,267 | ||
PRC power segment [member] | Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 154,088,674 | 155,641,635 | |
Overseas segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 12,002,860 | ||
Overseas segment [member] | Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 15,097,673 | 18,135,461 | |
All other segments [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 693,399 | ||
All other segments [member] | Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 690,605 | 700,486 | |
Sales of power and heat [member] | Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 161,452,779 | 164,935,815 | 166,306,671 |
Sales of power and heat [member] | PRC power segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 150,752,779 | 152,806,163 | 154,816,070 |
Sales of power and heat [member] | Overseas segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 10,700,000 | 12,129,652 | 11,490,601 |
Sales of coal and raw materials [member] | Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 1,887,264 | 1,881,336 | 863,776 |
Sales of coal and raw materials [member] | PRC power segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 1,857,484 | 1,353,538 | 649,374 |
Sales of coal and raw materials [member] | Overseas segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 29,780 | 527,798 | 214,402 |
Port service [member] | Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 198,140 | 175,213 | 144,998 |
Port service [member] | Intersegment revenue [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | (312,625) | (330,272) | (296,639) |
Port service [member] | All other segments [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 510,765 | 505,485 | 441,637 |
Transportation service [member] | Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 51,524 | 48,519 | 53,357 |
Transportation service [member] | Intersegment revenue [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | (102,155) | (118,297) | (153,334) |
Transportation service [member] | All other segments [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 153,679 | 166,816 | 206,691 |
Lease income [member] | Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 1,630,254 | 1,851,403 | |
Lease income [member] | PRC power segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 86,136 | 161,525 | |
Lease income [member] | Overseas segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 1,544,118 | 1,689,878 | |
Others [member] | Total [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 4,226,377 | 5,117,115 | 2,181,822 |
Others [member] | Intersegment revenue [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | (15,834) | (19,612) | (21,929) |
Others [member] | PRC power segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 1,392,275 | 1,320,409 | 1,860,823 |
Others [member] | Overseas segment [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | 2,823,775 | 3,788,133 | 297,857 |
Others [member] | All other segments [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Total revenue | ¥ 26,161 | ¥ 28,185 | ¥ 45,071 |
Revenue and segment informati_4
Revenue and segment information (Revenue information under PRC GAAP) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of operating segments [line items] | |||
Revenue | ¥ 169,446,338 | ¥ 174,009,401 | ¥ 169,550,624 |
Segment results | 4,773,736 | 3,119,460 | 1,973,147 |
Interest income | 292,724 | 264,554 | 234,604 |
Interest expense | (9,200,612) | (10,762,718) | (10,486,412) |
Impairment loss | (8,925,049) | (6,184,857) | (1,796,482) |
Credit loss | (172,711) | (74,557) | (40,967) |
Net gain/ (loss) on disposal of non-current assets | (626,657) | 69,449 | 42,506 |
Share of profits less losses of associates and joint ventures | 1,774,322 | 1,185,622 | 1,823,415 |
Income tax expense | (2,163,173) | (2,011,255) | (643,173) |
External revenue [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 169,446,338 | 174,009,401 | 169,550,624 |
Total [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 169,446,338 | 174,009,401 | 169,550,624 |
Intersegment revenue [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | (430,614) | (468,181) | (471,902) |
PRC GAAP | External revenue [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 169,439,187 | 173,583,125 | 169,861,165 |
Segment results | 8,756,946 | 4,617,066 | 3,622,485 |
Interest income | 292,759 | 264,970 | |
Interest expense | (9,192,325) | (10,718,763) | |
Impairment loss | (6,113,664) | (5,937,079) | (1,146,152) |
Credit loss | (120,016) | (74,557) | (42,578) |
Depreciation and amortization | (21,266,170) | (20,932,774) | |
Net gain/ (loss) on disposal of non-current assets | (612,246) | 137,088 | 69,123 |
Share of profits less losses of associates and joint ventures | 1,615,192 | 986,310 | 1,684,659 |
Income tax expense | (3,110,408) | (2,435,005) | (1,028,947) |
PRC GAAP | Total [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 169,869,801 | 174,051,306 | 170,333,067 |
Segment results | 3,622,485 | ||
Interest income | 235,738 | ||
Interest expense | (10,446,704) | ||
Impairment loss | (1,146,152) | ||
Credit loss | (42,578) | ||
Depreciation and amortization | (19,826,289) | ||
Net gain/ (loss) on disposal of non-current assets | 69,123 | ||
Share of profits less losses of associates and joint ventures | 1,684,659 | ||
Income tax expense | (1,028,947) | ||
PRC GAAP | Total [member] | External revenue [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 169,861,165 | ||
PRC GAAP | Intersegment revenue [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | (430,614) | (468,181) | (471,902) |
PRC power segment [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 157,326,267 | ||
PRC power segment [member] | Total [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 154,088,674 | 155,641,635 | |
PRC power segment [member] | PRC GAAP | |||
Disclosure of operating segments [line items] | |||
Revenue | 157,636,808 | ||
Segment results | 3,596,245 | ||
Interest income | 163,699 | ||
Interest expense | (9,879,911) | ||
Impairment loss | (895,121) | ||
Credit loss | (38,368) | ||
Depreciation and amortization | (18,909,485) | ||
Net gain/ (loss) on disposal of non-current assets | 70,186 | ||
Share of profits less losses of associates and joint ventures | 640,057 | ||
Income tax expense | (1,146,997) | ||
PRC power segment [member] | PRC GAAP | External revenue [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 154,174,151 | 155,739,959 | 157,636,808 |
Segment results | 7,634,662 | 4,658,738 | |
Interest income | 144,124 | 163,389 | |
Interest expense | (8,096,150) | (9,295,893) | |
Impairment loss | (6,114,200) | (5,445,635) | |
Credit loss | (49,116) | (6,570) | |
Depreciation and amortization | (20,237,935) | (20,012,936) | |
Net gain/ (loss) on disposal of non-current assets | (612,263) | 132,902 | |
Share of profits less losses of associates and joint ventures | 1,316,377 | 745,980 | |
Income tax expense | (3,087,995) | (2,501,871) | |
PRC power segment [member] | PRC GAAP | Total [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 154,174,151 | 155,739,959 | |
Overseas segment [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 12,002,860 | ||
Overseas segment [member] | Total [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 15,097,673 | 18,135,461 | |
Overseas segment [member] | PRC GAAP | |||
Disclosure of operating segments [line items] | |||
Revenue | 12,002,860 | ||
Segment results | (363,636) | ||
Interest income | 69,841 | ||
Interest expense | (465,099) | ||
Impairment loss | (251,031) | ||
Credit loss | (4,210) | ||
Depreciation and amortization | (774,625) | ||
Net gain/ (loss) on disposal of non-current assets | (1,052) | ||
Share of profits less losses of associates and joint ventures | 737,185 | ||
Income tax expense | 134,573 | ||
Overseas segment [member] | PRC GAAP | External revenue [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 15,005,045 | 17,610,861 | 12,002,860 |
Segment results | 896,315 | 162,465 | |
Interest income | 145,955 | 100,177 | |
Interest expense | (943,797) | (1,308,380) | |
Impairment loss | 536 | (6,119) | |
Credit loss | (70,900) | (67,987) | |
Depreciation and amortization | (809,284) | (752,285) | |
Net gain/ (loss) on disposal of non-current assets | 20 | 4,189 | |
Income tax expense | (6,063) | 89,006 | |
Overseas segment [member] | PRC GAAP | Total [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 15,005,045 | 17,610,861 | |
All other segments [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 693,399 | ||
All other segments [member] | Total [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 690,605 | 700,486 | |
All other segments [member] | PRC GAAP | |||
Disclosure of operating segments [line items] | |||
Revenue | 693,399 | ||
Segment results | 389,876 | ||
Interest income | 2,198 | ||
Interest expense | (101,694) | ||
Depreciation and amortization | (142,179) | ||
Net gain/ (loss) on disposal of non-current assets | (11) | ||
Share of profits less losses of associates and joint ventures | 307,417 | ||
Income tax expense | (16,523) | ||
All other segments [member] | PRC GAAP | External revenue [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 259,991 | 232,305 | 221,497 |
Segment results | 225,969 | (204,137) | |
Interest income | 2,680 | 1,404 | |
Interest expense | (152,378) | (114,490) | |
Impairment loss | (485,325) | ||
Depreciation and amortization | (218,951) | (167,553) | |
Net gain/ (loss) on disposal of non-current assets | (3) | (3) | |
Share of profits less losses of associates and joint ventures | 298,815 | 240,330 | |
Income tax expense | (16,350) | (22,140) | |
All other segments [member] | PRC GAAP | Total [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | 690,605 | 700,486 | |
All other segments [member] | PRC GAAP | Intersegment revenue [member] | |||
Disclosure of operating segments [line items] | |||
Revenue | ¥ (430,614) | ¥ (468,181) | ¥ (471,902) |
Revenue and segment informati_5
Revenue and segment information (Assets and liabilities information under PRC GAAP) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of operating segments [line items] | ||
Segment assets | ¥ 449,904,658 | ¥ 428,250,063 |
Including: | ||
Segment liabilities | (298,288,460) | (297,871,017) |
PRC GAAP | External revenue [member] | ||
Disclosure of operating segments [line items] | ||
Segment assets | 432,724,799 | 409,031,108 |
Including: | ||
Additions to non-current assets (excluding financial assets and deferred income tax assets) | 38,775,008 | |
Investments in associates | 18,086,187 | |
Investments in joint ventures | 2,744,522 | |
Segment liabilities | (293,841,909) | (293,419,312) |
PRC GAAP | Total [member] | ||
Disclosure of operating segments [line items] | ||
Segment assets | 409,031,108 | |
Including: | ||
Additions to non-current assets (excluding financial assets and deferred income tax assets) | 41,525,598 | |
Investments in associates | 16,727,315 | |
Investments in joint ventures | 2,472,422 | |
Segment liabilities | (293,419,312) | |
PRC power segment [member] | PRC GAAP | ||
Disclosure of operating segments [line items] | ||
Segment assets | 356,050,595 | |
Including: | ||
Additions to non-current assets (excluding financial assets and deferred income tax assets) | 40,556,999 | |
Investments in associates | 13,187,050 | |
Investments in joint ventures | 1,239,866 | |
Segment liabilities | (263,469,330) | |
PRC power segment [member] | PRC GAAP | External revenue [member] | ||
Disclosure of operating segments [line items] | ||
Segment assets | 382,917,976 | |
Including: | ||
Additions to non-current assets (excluding financial assets and deferred income tax assets) | 38,156,544 | |
Investments in associates | 14,230,345 | |
Investments in joint ventures | 1,550,986 | |
Segment liabilities | (265,407,038) | |
Overseas segment [member] | PRC GAAP | ||
Disclosure of operating segments [line items] | ||
Segment assets | 43,122,947 | |
Including: | ||
Additions to non-current assets (excluding financial assets and deferred income tax assets) | 716,642 | |
Segment liabilities | (27,397,122) | |
Overseas segment [member] | PRC GAAP | External revenue [member] | ||
Disclosure of operating segments [line items] | ||
Segment assets | 39,922,997 | |
Including: | ||
Additions to non-current assets (excluding financial assets and deferred income tax assets) | 432,151 | |
Segment liabilities | (23,933,317) | |
All other segments [member] | PRC GAAP | ||
Disclosure of operating segments [line items] | ||
Segment assets | 9,857,566 | |
Including: | ||
Additions to non-current assets (excluding financial assets and deferred income tax assets) | 251,957 | |
Investments in associates | 3,540,265 | |
Investments in joint ventures | 1,232,556 | |
Segment liabilities | ¥ (2,552,860) | |
All other segments [member] | PRC GAAP | External revenue [member] | ||
Disclosure of operating segments [line items] | ||
Segment assets | 9,883,826 | |
Including: | ||
Additions to non-current assets (excluding financial assets and deferred income tax assets) | 186,313 | |
Investments in associates | 3,855,842 | |
Investments in joint ventures | 1,193,536 | |
Segment liabilities | ¥ (4,501,554) |
Revenue and segment informati_6
Revenue and segment information (Reconciliation of external revenue to operating revenue) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of external revenue to operating revenue [line items] | |||
Revenue | ¥ 169,446,338 | ¥ 174,009,401 | ¥ 169,550,624 |
External revenue [member] | |||
Reconciliation of external revenue to operating revenue [line items] | |||
Revenue | 169,446,338 | 174,009,401 | 169,550,624 |
Total [member] | |||
Reconciliation of external revenue to operating revenue [line items] | |||
Revenue | 169,446,338 | 174,009,401 | 169,550,624 |
Impact of restatement under PRC GAAP in relation to business combination under common control [member] | |||
Reconciliation of external revenue to operating revenue [line items] | |||
Revenue | (85,477) | (98,324) | (310,541) |
PRC GAAP | External revenue [member] | |||
Reconciliation of external revenue to operating revenue [line items] | |||
Revenue | 169,439,187 | 173,583,125 | 169,861,165 |
PRC GAAP | Total [member] | |||
Reconciliation of external revenue to operating revenue [line items] | |||
Revenue | 169,869,801 | 174,051,306 | 170,333,067 |
PRC GAAP | Total [member] | External revenue [member] | |||
Reconciliation of external revenue to operating revenue [line items] | |||
Revenue | ¥ 169,861,165 | ||
Effect of transition to IFRSs [member] | Impact of recognition of BOT related revenue under IFRS [member] | |||
Reconciliation of external revenue to operating revenue [line items] | |||
Revenue | ¥ 92,628 | ¥ 524,600 |
Revenue and segment informati_7
Revenue and segment information (Reconciliation of segment result to profit before income tax expense) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of segment result to profit before income tax expense [line items] | |||
Profit before income tax expense | ¥ 4,773,736 | ¥ 3,119,460 | ¥ 1,973,147 |
Impact of restatement under PRC GAAP in relation to business combination under common control [member] | |||
Reconciliation of segment result to profit before income tax expense [line items] | |||
Profit before income tax expense | (13,995) | 149,645 | 7,121 |
Impact of other IFRS adjustments [member] | |||
Reconciliation of segment result to profit before income tax expense [line items] | |||
Profit before income tax expense | (4,026,399) | (1,693,351) | (1,470,329) |
PRC GAAP | Loss related to the headquarter [member] | |||
Reconciliation of segment result to profit before income tax expense [line items] | |||
Profit before income tax expense | (132,234) | (155,395) | (354,162) |
PRC GAAP | Share of profits of Huaneng Finance [member] | |||
Reconciliation of segment result to profit before income tax expense [line items] | |||
Profit before income tax expense | 188,643 | 200,810 | 166,864 |
PRC GAAP | Dividend income of other equity instruments investments [member] | |||
Reconciliation of segment result to profit before income tax expense [line items] | |||
Profit before income tax expense | 775 | 685 | 1,168 |
PRC GAAP | External revenue [member] | |||
Reconciliation of segment result to profit before income tax expense [line items] | |||
Profit before income tax expense | ¥ 8,756,946 | ¥ 4,617,066 | 3,622,485 |
PRC GAAP | Total [member] | |||
Reconciliation of segment result to profit before income tax expense [line items] | |||
Profit before income tax expense | ¥ 3,622,485 |
Revenue and segment informati_8
Revenue and segment information (Reportable segments' assets reconciled to total assets) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Reportable segments' assets [line items] | ||
Assets | ¥ 449,904,658 | ¥ 428,250,063 |
Impact of restatement under PRC GAAP in relation to business combination under common control [member] | ||
Reportable segments' assets [line items] | ||
Assets | 1,402,511 | |
Impact of other IFRS adjustments [member] | ||
Reportable segments' assets [line items] | ||
Assets | 11,698,906 | 14,653,520 |
PRC GAAP | Investment in Huaneng Finance [member] | ||
Reportable segments' assets [line items] | ||
Assets | 1,394,030 | 1,416,183 |
PRC GAAP | Deferred income tax assets [member] | ||
Reportable segments' assets [line items] | ||
Assets | 2,996,690 | 3,271,488 |
PRC GAAP | Prepaid income tax [member] | ||
Reportable segments' assets [line items] | ||
Assets | 133,090 | 139,617 |
PRC GAAP | Other equity instrument investments [member] | ||
Reportable segments' assets [line items] | ||
Assets | 664,946 | 779,217 |
PRC GAAP | Corporate assets [member] | ||
Reportable segments' assets [line items] | ||
Assets | 292,197 | 361,441 |
PRC GAAP | External revenue [member] | ||
Reportable segments' assets [line items] | ||
Assets | ¥ 432,724,799 | 409,031,108 |
PRC GAAP | Total [member] | ||
Reportable segments' assets [line items] | ||
Assets | ¥ 409,031,108 |
Revenue and segment informati_9
Revenue and segment information (Reportable segments' liabilities reconciled to total liabilities) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Reportable segments' liabilities [line items] | ||
Liabilities | ¥ (298,288,460) | ¥ (297,871,017) |
Impact of restatement under PRC GAAP in relation to business combination under common control [member] | ||
Reportable segments' liabilities [line items] | ||
Liabilities | (1,315,267) | |
Impact of other IFRS adjustments [member] | ||
Reportable segments' liabilities [line items] | ||
Liabilities | (1,558,061) | (1,563,317) |
PRC GAAP | External revenue [member] | ||
Reportable segments' liabilities [line items] | ||
Liabilities | (293,841,909) | (293,419,312) |
PRC GAAP | Current income tax liabilities [member] | ||
Reportable segments' liabilities [line items] | ||
Liabilities | (288,106) | (748,957) |
PRC GAAP | Deferred income tax liabilities [member] | ||
Reportable segments' liabilities [line items] | ||
Liabilities | (977,810) | (996,021) |
PRC GAAP | Corporate liabilities [member] | ||
Reportable segments' liabilities [line items] | ||
Liabilities | ¥ (1,622,574) | (2,458,677) |
PRC GAAP | Total [member] | ||
Reportable segments' liabilities [line items] | ||
Liabilities | ¥ (293,419,312) |
Revenue and segment informat_10
Revenue and segment information (Other material items) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Other material items [line items] | |||
Revenue | ¥ 169,446,338 | ¥ 174,009,401 | ¥ 169,550,624 |
Interest expense | (9,200,612) | (10,762,718) | (10,486,412) |
Depreciation and amortization | (22,274,493) | (21,966,805) | (20,916,114) |
Impairment loss | (8,925,049) | (6,184,857) | (1,796,482) |
Credit loss | (172,711) | (74,557) | (40,967) |
Share of profits less losses of associates and joint ventures | 1,774,322 | 1,185,622 | 1,823,415 |
Net gain/ (loss) on disposal of non-current assets | (626,657) | 69,449 | 42,506 |
Income tax expense | (2,163,173) | (2,011,255) | (643,173) |
External revenue [member] | |||
Other material items [line items] | |||
Revenue | 169,446,338 | 174,009,401 | 169,550,624 |
Impact of restatement under PRC GAAP in relation to business combination under common control [member] | |||
Other material items [line items] | |||
Revenue | (85,477) | (98,324) | (310,541) |
Interest expense | 29,006 | 35,599 | 58,690 |
Depreciation and amortization | 26,023 | 59,679 | 167,910 |
Impairment loss | 125,259 | (8) | |
Credit loss | 1,611 | ||
Income tax expense | 176 | 108 | 3,936 |
Impact of other IFRS adjustments [member] | |||
Other material items [line items] | |||
Revenue | 92,628 | 524,600 | |
Depreciation and amortization | (997,912) | (1,079,563) | (1,231,613) |
Impairment loss | (2,811,385) | (373,037) | (650,322) |
Credit loss | (52,695) | ||
Share of profits less losses of associates and joint ventures | (29,513) | (1,498) | (28,108) |
Net gain/ (loss) on disposal of non-current assets | (14,411) | (67,639) | (26,612) |
Income tax expense | 947,059 | 423,642 | 381,838 |
Total [member] | |||
Other material items [line items] | |||
Revenue | 169,446,338 | 174,009,401 | 169,550,624 |
PRC GAAP | Headquarters [member] | |||
Other material items [line items] | |||
Interest expense | (37,293) | (79,554) | (98,398) |
Depreciation and amortization | (36,434) | (14,147) | (26,122) |
Net gain/ (loss) on disposal of non-current assets | (5) | ||
PRC GAAP | Share of profits of Huaneng Finance [member] | |||
Other material items [line items] | |||
Share of profits less losses of associates and joint ventures | 188,643 | 200,810 | 166,864 |
PRC GAAP | External revenue [member] | |||
Other material items [line items] | |||
Revenue | 169,439,187 | 173,583,125 | 169,861,165 |
Interest expense | (9,192,325) | (10,718,763) | (10,446,704) |
Depreciation and amortization | (21,266,170) | (20,932,774) | (19,826,289) |
Impairment loss | (6,113,664) | (5,937,079) | (1,146,152) |
Credit loss | (120,016) | (74,557) | (42,578) |
Share of profits less losses of associates and joint ventures | 1,615,192 | 986,310 | 1,684,659 |
Net gain/ (loss) on disposal of non-current assets | (612,246) | 137,088 | 69,123 |
Income tax expense | (3,110,408) | (2,435,005) | (1,028,947) |
PRC GAAP | Total [member] | |||
Other material items [line items] | |||
Revenue | ¥ 169,869,801 | ¥ 174,051,306 | 170,333,067 |
Impairment loss | (1,146,152) | ||
Credit loss | (42,578) | ||
Share of profits less losses of associates and joint ventures | 1,684,659 | ||
Net gain/ (loss) on disposal of non-current assets | 69,123 | ||
Income tax expense | (1,028,947) | ||
PRC GAAP | Total [member] | External revenue [member] | |||
Other material items [line items] | |||
Revenue | ¥ 169,861,165 |
Revenue and segment informat_11
Revenue and segment information (Geographical information (Under IFRS)) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Geographical information (Under IFRS) [line items] | |||
External revenue | ¥ 169,446,338 | ¥ 174,009,401 | ¥ 169,550,624 |
External revenue [member] | |||
Geographical information (Under IFRS) [line items] | |||
External revenue | 169,446,338 | 174,009,401 | 169,550,624 |
Non-current assets (excluding financial assets and deferred income tax assets) | 370,041,207 | 352,240,283 | |
Total [member] | |||
Geographical information (Under IFRS) [line items] | |||
External revenue | 169,446,338 | 174,009,401 | 169,550,624 |
PRC | External revenue [member] | |||
Geographical information (Under IFRS) [line items] | |||
External revenue | 154,348,665 | 155,873,940 | 157,547,764 |
Non-current assets (excluding financial assets and deferred income tax assets) | 346,766,179 | 327,410,156 | |
Overseas [member] | External revenue [member] | |||
Geographical information (Under IFRS) [line items] | |||
External revenue | 15,097,673 | 18,135,461 | ¥ 12,002,860 |
Non-current assets (excluding financial assets and deferred income tax assets) | ¥ 23,275,028 | ¥ 24,830,127 |
Revenue and segment informat_12
Revenue and segment information (Information on sales to major customers) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Information on sales to major customers [line items] | |||
Revenue | ¥ 169,446,338 | ¥ 174,009,401 | ¥ 169,550,624 |
External revenue [member] | |||
Information on sales to major customers [line items] | |||
Revenue | 169,446,338 | 174,009,401 | 169,550,624 |
Total [member] | |||
Information on sales to major customers [line items] | |||
Revenue | ¥ 169,446,338 | ¥ 174,009,401 | ¥ 169,550,624 |
Grid companies under common control of State Grid Corporation of China [member] | |||
Information on sales to major customers [line items] | |||
Proportion | 77.00% | 79.00% | 76.00% |
State Grid Shandong Electric Power Company [member] | |||
Information on sales to major customers [line items] | |||
Revenue | ¥ 27,265,600 | ¥ 29,575,604 | ¥ 31,156,948 |
Proportion | 16.00% | 17.00% | 18.00% |
Revenue and segment informat_13
Revenue and segment information (Contract balances) (Detail) ¥ in Millions | 12 Months Ended |
Dec. 31, 2020CNY (¥) | |
Heat pipeline service [member] | |
Disclosure of contract liabilities [line items] | |
The amount recognised in contract liabilities at the beginning of the period | ¥ 242 |
Heat sales [member] | |
Disclosure of contract liabilities [line items] | |
The amount recognised in contract liabilities at the beginning of the period | ¥ 2,055 |
Revenue and segment informat_14
Revenue and segment information (Transaction price allocated to remaining performance obligations (unsatisfied or partially unsatisfied)) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | ¥ 2,623,764 | ¥ 2,443,254 |
Maximum time of remaining performance obligations to be satisfied relate to provision of heating pipeline services | within 17 years | |
Within 1 year | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | ¥ 268,001 | 220,046 |
Over 1 year [member] | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Transaction price allocated to remaining performance obligations | ¥ 2,355,763 | ¥ 2,223,208 |
Profit before income tax expe_3
Profit before income tax expense (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Profit before income tax expense | |||
Total interest expense on borrowing | ¥ 10,128,467 | ¥ 11,342,526 | ¥ 10,982,230 |
Less: amounts capitalized in property, plant and equipment | 927,855 | 579,808 | 495,818 |
Interest expenses charged to consolidated statement of comprehensive income | 9,200,612 | 10,762,718 | 10,486,412 |
Including: Interest expenses on lease liabilities | 202,264 | 171,573 | |
Depreciation of property, plant and equipment | 21,360,798 | 21,130,076 | 20,466,423 |
Depreciation of right-of-use assets | 785,518 | 734,827 | |
Included in other investment loss/(income) | |||
Dividends on other equity instrument investments | (775) | (685) | (1,168) |
Gains on disposal of subsidiaries (Note 20, 41(b)) | (256,009) | ||
Loss on disposal of a joint venture | 270,741 | ||
Included in (gain)/loss on fair value changes of financial assets/liabilities | |||
Contingent consideration of the business combination | (17,175) | (746,850) | |
Loss/(gain) on fair value changes of trading derivatives | 1,566 | (19,492) | 20,007 |
Included in other operating expenses: | |||
Operating expense of Ruyi Pakistan | 2,581,665 | 3,057,427 | |
Service concession construction cost | 103,177 | 518,291 | 89,022 |
Other materials expense | 1,626,385 | 1,748,498 | 1,640,372 |
Electricity charges | 973,372 | 898,719 | 807,425 |
Cost of sales of raw materials | 295,330 | 606,103 | 1,088,534 |
Water charges | 549,260 | 652,077 | 642,578 |
Insurance expense | 386,435 | 362,147 | 346,348 |
Cleaning, greening and fire protection expense | 430,476 | 398,478 | 384,431 |
Purchase of power generation quota | 392,902 | 423,057 | 431,964 |
Transportation allowance | 179,955 | 178,217 | 186,438 |
Pollutant charge | 137,579 | 84,468 | 72,494 |
Water conservancy fund and disabled security fund | 471,129 | 202,479 | 166,244 |
Test and inspection expense | 359,997 | 323,434 | 267,406 |
Service charge | 333,916 | 171,676 | 105,649 |
Heating pipeline related cost | 134,915 | 144,300 | 168,443 |
Auditor's remuneration for audit services | 39,117 | 42,019 | 68,750 |
Other consulting expense | 97,559 | 111,468 | 42,479 |
Office expense | 223,913 | 198,033 | 187,030 |
Minimum lease payments under operating lease, lease payments not included in the measurement of lease liabilities | 106,031 | 234,139 | |
Amortization of other non-current assets | 128,177 | 101,902 | 105,623 |
Property management expense | 95,037 | 76,507 | 64,076 |
Information technology maintenance expense | 229,214 | 122,425 | 101,449 |
Travel expense | 99,106 | 156,683 | 164,193 |
Amortization of land use rights | 344,068 | ||
Business entertainment expense | 28,553 | 32,825 | 44,973 |
Research and development expenditure | 667,592 | 65,022 | 46,219 |
Net loss on disposal of material and supplies | 167,449 | 6,384 | |
Net (gain)/ loss on disposals of non-current assets | 626,657 | (69,449) | (42,506) |
Recognition of provision for loss allowance of receivables | 172,711 | 74,557 | 40,967 |
Recognition of provision for inventory obsolescence (Note 16) | 43,076 | 22,453 | 253,816 |
Impairment loss of property, plant and equipment (Note 7) | 7,847,378 | 5,719,990 | 989,778 |
Impairment loss of mining rights | 135,085 | ||
Impairment loss of goodwill (Note 14) | 685,036 | 409,371 | |
Impairment loss of other non-current assets | 349,559 | 464,867 | 8,432 |
(Gain)/loss of Three supplies and Property management | (126,425) | (200,683) | 433,989 |
Operating lease charge | 377,162 | ||
Government grants | (739,740) | (818,101) | (521,380) |
Penalties | 22,279 | 23,614 | 27,409 |
Donations | 55,663 | 47,393 | 19,460 |
Land use right expense | 54,487 | ||
Others | 525,637 | 698,006 | 678,720 |
Total | ¥ 20,300,072 | ¥ 16,879,425 | ¥ 10,430,998 |
Property, plant and equipment_2
Property, plant and equipment (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | ¥ 285,622,907 | ¥ 282,061,272 | |
Beginning of the year (restated) | 992,484 | 280,444,721 | |
Reclassification | 43,774,954 | (1,616,551) | |
Acquisition | 222,684 | 2,038,550 | |
Additions | 30,338,631 | ||
Reclassification to Investment property | (1,348) | ||
Transfer from CIP | (614,528) | ||
Reclassification to assets held for sale | (635,153) | ||
Disposals/write-off | (21,374,961) | (21,138,807) | |
Depreciation charge | (7,847,378) | (5,719,990) | |
Impairment charge | (7,847,378) | (5,719,990) | ¥ (989,778) |
Other decrease | (262,788) | ||
Currency translation differences | (340,884) | 294,955 | |
End of the year | 300,171,142 | 285,622,907 | 282,061,272 |
Original cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 556,244,130 | 526,657,481 | |
End of the year | 595,034,068 | 556,244,130 | 526,657,481 |
Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (252,400,884) | (231,922,282) | |
End of the year | (269,120,727) | (252,400,884) | (231,922,282) |
Accumulated impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (18,220,339) | (12,673,927) | |
End of the year | (25,742,199) | (18,220,339) | (12,673,927) |
Dams [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 1,559,506 | 1,604,724 | |
Beginning of the year (restated) | 1,604,724 | ||
Reclassification | (73,290) | ||
Transfer from CIP | 4,773 | 39 | |
Disposals/write-off | (2,292) | ||
Depreciation charge | (43,218) | (42,965) | |
Impairment charge | (92,026) | ||
End of the year | 1,355,745 | 1,559,506 | 1,604,724 |
Dams [member] | Original cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 2,305,554 | 2,308,072 | |
End of the year | 2,218,159 | 2,305,554 | 2,308,072 |
Dams [member] | Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (343,836) | (301,125) | |
End of the year | (402,811) | (343,836) | (301,125) |
Dams [member] | Accumulated impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (402,212) | (402,223) | |
End of the year | (459,603) | (402,212) | (402,223) |
Port facilities [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 3,011,605 | 2,849,546 | |
Beginning of the year (restated) | 2,849,546 | ||
Reclassification | (1,104,389) | ||
Transfer from CIP | 24,938 | 1,794,267 | |
Depreciation charge | (126,252) | (88,629) | |
Impairment charge | (439,190) | ||
End of the year | 2,910,291 | 3,011,605 | 2,849,546 |
Port facilities [member] | Original cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 3,975,987 | 3,409,830 | |
End of the year | 4,000,925 | 3,975,987 | 3,409,830 |
Port facilities [member] | Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (525,192) | (560,284) | |
End of the year | (651,444) | (525,192) | (560,284) |
Port facilities [member] | Accumulated impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (439,190) | ||
End of the year | (439,190) | (439,190) | |
Buildings | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 8,065,975 | 8,298,218 | |
Beginning of the year (restated) | 8,298,218 | ||
Reclassification | 124,978 | 6,313 | |
Acquisition | 11,222 | ||
Additions | 12,839 | 7,249 | |
Reclassification to Investment property | (1,348) | ||
Transfer from CIP | 447,047 | 771,582 | |
Other additions | 23,652 | ||
Disposals/write-off | (10,259) | (470,877) | |
Depreciation charge | (537,815) | (430,155) | |
Impairment charge | (109,205) | (116,355) | |
End of the year | 8,027,086 | 8,065,975 | 8,298,218 |
Buildings | Original cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 12,916,746 | 12,566,461 | |
End of the year | 13,496,843 | 12,916,746 | 12,566,461 |
Buildings | Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (4,614,648) | (4,147,947) | |
End of the year | (5,127,671) | (4,614,648) | (4,147,947) |
Buildings | Accumulated impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (236,123) | (120,296) | |
End of the year | (342,086) | (236,123) | (120,296) |
Electric utility plant in service | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 232,291,062 | 240,011,689 | |
Upon adoption of IFRS 16 | (1,387,259) | ||
Beginning of the year (restated) | 238,624,430 | ||
Reclassification | 38,186 | (183) | |
Acquisition | 975,303 | ||
Additions | 622,380 | 187,370 | |
Transfer from CIP | 27,265,667 | 17,261,238 | |
Other additions | 189,847 | ||
Disposals/write-off | (594,632) | (157,316) | |
Depreciation charge | (20,139,034) | (20,057,767) | |
Impairment charge | (7,552,442) | (3,864,903) | |
Other decrease | (262,788) | ||
Currency translation differences | (332,568) | 298,193 | |
End of the year | 232,500,981 | 232,291,062 | 240,011,689 |
Electric utility plant in service | Original cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 488,256,686 | 472,814,967 | |
End of the year | 511,570,031 | 488,256,686 | 472,814,967 |
Electric utility plant in service | Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (241,169,240) | (221,703,642) | |
End of the year | (256,998,944) | (241,169,240) | (221,703,642) |
Electric utility plant in service | Accumulated impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (14,796,384) | (11,099,636) | |
End of the year | (22,070,106) | (14,796,384) | (11,099,636) |
Vehicles [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 853,091 | 732,542 | |
Beginning of the year (restated) | 732,542 | ||
Reclassification | (75,100) | ||
Additions | 242 | ||
Transfer from CIP | 7,305 | 190,777 | |
Disposals/write-off | (24) | (4) | |
Depreciation charge | (59,926) | (69,473) | |
Impairment charge | (993) | ||
End of the year | 725,346 | 853,091 | 732,542 |
Vehicles [member] | Original cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 1,410,233 | 1,219,218 | |
End of the year | 1,334,131 | 1,410,233 | 1,219,218 |
Vehicles [member] | Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (556,149) | (486,676) | |
End of the year | (608,003) | (556,149) | (486,676) |
Vehicles [member] | Accumulated impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (993) | ||
End of the year | (782) | (993) | |
Others | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 3,156,397 | 2,465,578 | |
Upon adoption of IFRS 16 | (229,292) | ||
Beginning of the year (restated) | 2,236,286 | ||
Reclassification | (14,774) | 1,098,259 | |
Acquisition | 4,081 | ||
Additions | 163,389 | 164,909 | |
Transfer from CIP | 259,431 | 158,621 | |
Other additions | 9,185 | ||
Disposals/write-off | (9,613) | (4,664) | |
Depreciation charge | (468,716) | (449,818) | |
Impairment charge | (24,875) | (43,432) | |
Currency translation differences | (3,476) | (3,764) | |
End of the year | 3,071,029 | 3,156,397 | 2,465,578 |
Others | Original cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 8,429,661 | 7,226,391 | |
End of the year | 8,504,371 | 8,429,661 | 7,226,391 |
Others | Accumulated depreciation [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (5,191,819) | (4,722,608) | |
End of the year | (5,331,854) | (5,191,819) | (4,722,608) |
Others | Accumulated impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (81,445) | (38,205) | |
End of the year | (101,488) | (81,445) | (38,205) |
CIP | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 36,685,271 | 26,098,975 | |
Beginning of the year (restated) | 26,098,975 | ||
Acquisition | 1,878 | 2,038,550 | |
Additions | 42,976,346 | 29,978,861 | |
Transfer from CIP | (28,009,161) | (20,176,524) | |
Impairment charge | (68,830) | (1,255,117) | |
Currency translation differences | (4,840) | 526 | |
End of the year | 51,580,664 | 36,685,271 | 26,098,975 |
CIP | Original cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | 38,949,263 | 27,112,542 | |
End of the year | 53,909,608 | 38,949,263 | 27,112,542 |
CIP | Accumulated impairment losses [member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Beginning of the year | (2,263,992) | (1,013,567) | |
End of the year | ¥ (2,328,944) | ¥ (2,263,992) | ¥ (1,013,567) |
Property, plant and equipment_3
Property, plant and equipment (Interest capitalization) (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Property, plant and equipment . | ||
Interest expense arising on borrowings | ¥ 928 | ¥ 580 |
Weighted average capitalisation rate | 4.12% | 4.44% |
Property, plant and equipment_4
Property, plant and equipment (Impairment) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Property, plant and equipment . | |||
Impairment loss of property, plant and equipment (Note 7) | ¥ 7,847,378 | ¥ 5,719,990 | ¥ 989,778 |
Property, plant and equipment_5
Property, plant and equipment (Impairment of CGUs) (Details) - CNY (¥) ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2014 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | ¥ 300,171,142 | ¥ 285,622,907 | ¥ 282,061,272 | |
Impairment loss of property, plant and equipment (Note 7) | 7,847,378 | 5,719,990 | 989,778 | |
CGUs with indicator of impairment | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 7,435,000 | |||
Yichun Thermal Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 721,000 | |||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 492,000 | 0 | ||
Baiyanghe Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 750,000 | |||
Zhongtai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 457,000 | |||
Jiaxiang Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 625,000 | |||
Yunhe Power (viii) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 986,000 | |||
Yantai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 661,000 | |||
Liaocheng Co-generation | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 700,000 | |||
Linyi Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 979,000 | |||
Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 352,000 | |||
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 274,000 | |||
Huaneng Zuoquan Coal-fired Power Generation Limited Liability Company ("Zuoquan Coal-fired Power ") (f) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 270,000 | |||
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 168,000 | ¥ 92,000 | ||
Individual assets | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 344,000 | |||
Property, plant and equipment (except for CIPs) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Impairment loss of property, plant and equipment (Note 7) | 7,779,000 | |||
Land use right and other assets | CGUs with indicator of impairment | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 2,254,000 | |||
Land use right and other assets | Yichun Thermal Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 242,000 | |||
Land use right and other assets | Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 162,000 | |||
Land use right and other assets | Baiyanghe Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 90,000 | |||
Land use right and other assets | Zhongtai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 42,000 | |||
Land use right and other assets | Jiaxiang Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 125,000 | |||
Land use right and other assets | Yunhe Power (viii) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 227,000 | |||
Land use right and other assets | Yantai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 280,000 | |||
Land use right and other assets | Liaocheng Co-generation | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 458,000 | |||
Land use right and other assets | Linyi Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 226,000 | |||
Land use right and other assets | Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 12,000 | |||
Land use right and other assets | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 63,000 | |||
Land use right and other assets | Huaneng Zuoquan Coal-fired Power Generation Limited Liability Company ("Zuoquan Coal-fired Power ") (f) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 57,000 | |||
Land use right and other assets | Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 270,000 | |||
Buildings | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 8,027,086 | 8,065,975 | 8,298,218 | |
Impairment loss of property, plant and equipment (Note 7) | 109,205 | 116,355 | ||
Buildings | CGUs with indicator of impairment | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 272,000 | |||
Buildings | Yichun Thermal Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 50,000 | |||
Buildings | Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 20,000 | |||
Buildings | Baiyanghe Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 47,000 | |||
Buildings | Zhongtai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 4,000 | |||
Buildings | Jiaxiang Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 49,000 | |||
Buildings | Yunhe Power (viii) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 11,000 | |||
Buildings | Yantai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 34,000 | |||
Buildings | Liaocheng Co-generation | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 6,000 | |||
Buildings | Linyi Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 8,000 | |||
Buildings | Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 5,000 | |||
Buildings | Huaneng Zuoquan Coal-fired Power Generation Limited Liability Company ("Zuoquan Coal-fired Power ") (f) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 35,000 | |||
Buildings | Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 3,000 | |||
Electric utility plant in service | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 232,500,981 | 232,291,062 | 240,011,689 | |
Impairment loss of property, plant and equipment (Note 7) | 7,552,442 | 3,864,903 | ||
Electric utility plant in service | CGUs with indicator of impairment | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 12,789,000 | |||
Electric utility plant in service | Yichun Thermal Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 1,488,000 | |||
Electric utility plant in service | Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 310,000 | |||
Electric utility plant in service | Baiyanghe Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 1,035,000 | |||
Electric utility plant in service | Zhongtai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 159,000 | |||
Electric utility plant in service | Jiaxiang Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 639,000 | |||
Electric utility plant in service | Yunhe Power (viii) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 1,185,000 | |||
Electric utility plant in service | Yantai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 331,000 | |||
Electric utility plant in service | Liaocheng Co-generation | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 1,388,000 | |||
Electric utility plant in service | Linyi Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 2,080,000 | |||
Electric utility plant in service | Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 586,000 | |||
Electric utility plant in service | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 886,000 | |||
Electric utility plant in service | Huaneng Zuoquan Coal-fired Power Generation Limited Liability Company ("Zuoquan Coal-fired Power ") (f) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 2,660,000 | |||
Electric utility plant in service | Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 42,000 | |||
Others | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Net book value after impairment | 3,071,029 | 3,156,397 | ¥ 2,465,578 | |
Impairment loss of property, plant and equipment (Note 7) | ¥ 24,875 | ¥ 43,432 |
Property, plant and equipment_6
Property, plant and equipment (Key assumptions used in estimating the recoverable amount of the CGUs - Yichun Thermal Power) (Details) | 12 Months Ended | ||||
Dec. 31, 2020MW | Dec. 31, 2020h / yr | Dec. 31, 2020¥ / MWh | Dec. 31, 2020¥ / T | Dec. 31, 2019¥ / T | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Sales volume ( Power generation hours), Forecasted | h / yr | 4,140 | ||||
Yichun Thermal Power | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Sales volume ( Power generation hours), Actual | 350 | 4,217 | |||
Sales volume ( Power generation hours), Fluctuation | h / yr | 77 | ||||
Tariff (excluding tax), Forecasted | ¥ / MWh | 360 | ||||
Tariff (excluding tax), Actual | ¥ / MWh | 341.36 | ||||
Tariff (excluding tax), Fluctuation | ¥ / MWh | 18.64 | ||||
Fuel prices (standard coal unit price excluding tax), Forecasted | 720 | ||||
Fuel prices (standard coal unit price excluding tax), Actual | 798.21 | ||||
Yichun Thermal Power | Minimum | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Fuel prices (standard coal unit price excluding tax), Forecasted | 782.34 | ||||
Fuel prices (standard coal price, excluding tax), Fluctuation | 15.87 | ||||
Yichun Thermal Power | Maximum | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Fuel prices (standard coal unit price excluding tax), Forecasted | 738.17 | ||||
Fuel prices (standard coal price, excluding tax), Fluctuation | 60.04 |
Property, plant and equipment_7
Property, plant and equipment (Impairment of CGUs - Narrative) (Details) ¥ in Thousands, J in Thousands | 1 Months Ended | 2 Months Ended | 10 Months Ended | 12 Months Ended | 132 Months Ended | 192 Months Ended | ||||||||||||||||||||||||||||||||||||||
Jan. 31, 2021kW | Sep. 30, 2020kW | Jun. 30, 2020kWh¥ / MWh | Dec. 31, 2020item | Oct. 31, 2020item | Dec. 31, 2047T | Dec. 31, 2035kT | Dec. 31, 2026kT | Dec. 31, 2025kT | Dec. 31, 2024itemkT | Dec. 31, 2023itemkT¥ / MWhm³ | Dec. 31, 2022JitemkTT¥ / MWhm³ | Dec. 31, 2021item | Dec. 31, 2021T | Dec. 31, 2021h / yr | Dec. 31, 2021kT | Dec. 31, 2021¥ / MWh | Dec. 31, 2021kW | Dec. 31, 2021m³ | Dec. 31, 2021kWh | Dec. 31, 2021J | Dec. 31, 2020 | Dec. 31, 2020CNY (¥) | Dec. 31, 2020item | Dec. 31, 2020MW | Dec. 31, 2020T | Dec. 31, 2020h / yr | Dec. 31, 2020¥ / T | Dec. 31, 2020¥ / MWh | Dec. 31, 2020 | Dec. 31, 2020kW | Dec. 31, 2020¥ / MW | Dec. 31, 2020m³ | Dec. 31, 2020kWh | Dec. 31, 2020J | Dec. 31, 2020¥ / m³ | Dec. 31, 2020h / Y | Dec. 31, 2019CNY (¥)kWhitemT¥ / MWh¥ / Tm³ | Dec. 31, 2018CNY (¥)item¥ / MWh | Dec. 31, 2017item¥ / MWh | Dec. 31, 2016CNY (¥) | Dec. 31, 2014CNY (¥) | Dec. 31, 2031CNY (¥)¥ / MW | Dec. 31, 2047¥ / MWh | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 4,140 | |||||||||||||||||||||||||||||||||||||||||||
Goodwill impairment losses | ¥ | ¥ 685,036 | ¥ 409,371 | ||||||||||||||||||||||||||||||||||||||||||
Profit before income tax expense | ¥ | 4,773,736 | ¥ 3,119,460 | 1,973,147 | |||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 7,847,378 | 5,719,990 | 989,778 | |||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 4,140 | |||||||||||||||||||||||||||||||||||||||||||
Operating profit (loss) | ¥ | 11,918,215 | ¥ 12,377,731 | 10,114,265 | |||||||||||||||||||||||||||||||||||||||||
Shandong Province | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Number of coal-fired power plants operated | kW | 19 | |||||||||||||||||||||||||||||||||||||||||||
Number of coal-fired power plants that have impairment indicators | kW | 12 | |||||||||||||||||||||||||||||||||||||||||||
Number of power plants that have generated high profits | item | 7 | |||||||||||||||||||||||||||||||||||||||||||
Number of 350MW combined heat and power coal-fired generation units operated | MW | 2 | |||||||||||||||||||||||||||||||||||||||||||
Yichun Thermal Power | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Number of 350MW combined heat and power coal-fired units operated | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Increase in unit price of standard coal consumed | T | 24.26 | |||||||||||||||||||||||||||||||||||||||||||
Coal price per ton by which actual price exceeds the forecasted price | T | 61.66 | |||||||||||||||||||||||||||||||||||||||||||
Fuel prices (standard coal unit price excluding tax), Forecasted | ¥ / T | 720 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 721,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 350 | 4,217 | ||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Fluctuation | 77 | |||||||||||||||||||||||||||||||||||||||||||
Operating profit (loss) | ¥ | 160,000 | ¥ 80,000 | 37,000 | |||||||||||||||||||||||||||||||||||||||||
Yichun Thermal Power | Shandong Province | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 0 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Number of sets of 51 MW gas-steam combined cycle units operated | item | 3 | |||||||||||||||||||||||||||||||||||||||||||
Number of sets of waste heat boilers operated | item | 3 | |||||||||||||||||||||||||||||||||||||||||||
Number of sets of 25 MW extraction condensing turbines operated | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Number of sets of 7 MW back pressure steam turbines operated | item | 1 | |||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MWh | 620.70 | |||||||||||||||||||||||||||||||||||||||||||
Tariff without subsidies, Forecasted | ¥ / MWh | 356 | |||||||||||||||||||||||||||||||||||||||||||
Total installed capacity | MW | 210 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 492,000 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 2,110 | |||||||||||||||||||||||||||||||||||||||||||
Operating profit (loss) | ¥ | 52,000 | ¥ 113,000 | ¥ 119,000 | |||||||||||||||||||||||||||||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | Forecast | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Increase (decrease) in sales volume (Heat sales volume) | T | 200,000 | |||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | 730,000 | 61 | 41 | 40 | 38 | 36 | 34 | |||||||||||||||||||||||||||||||||||||
Number of newly developed customers in the area who will achieve their designed production capacity | item | 11 | |||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume as a percentage of designed capacity | 83.00% | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 2,421 | 2,388 | 2,363 | 2,321 | 487,000,000 | |||||||||||||||||||||||||||||||||||||||
Subsidized electricity | ¥ | 323,000 | |||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MW | 620.7 | |||||||||||||||||||||||||||||||||||||||||||
Tariff without subsidies, Forecasted | ¥ / MW | 356 | |||||||||||||||||||||||||||||||||||||||||||
On-grid tariff (including tax), Forecasted | ¥ / MWh | 420.7 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 2,421 | 2,388 | 2,363 | 2,321 | 487,000,000 | |||||||||||||||||||||||||||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | Forecast | Minimum Range | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | kT | 340 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | Forecast | Maximum Range | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | T | 965,600 | |||||||||||||||||||||||||||||||||||||||||||
Power plants in Shandong province | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Power utilization from outside sources | kW | 35,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Target total power generation capacity of new energy and renewable energy | kW | 30,000,000 | 30,000,000 | ||||||||||||||||||||||||||||||||||||||||||
Total power generation capacity of new energy and renewable energy reached | kW | 41,060,000 | |||||||||||||||||||||||||||||||||||||||||||
Increase in market traded electricity volume | kWh | 22,997,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Increase in market traded electricity volume, percentage | 8.55% | 24.56% | ||||||||||||||||||||||||||||||||||||||||||
Market traded electricity volume | kWh | 116,600,000,000 | 93,603,000,000 | ||||||||||||||||||||||||||||||||||||||||||
Public coal-fired power generation volume directly dispatched | kWh | 236,900,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Public coal-fired power generation volume directly dispatched, Year on year decrease, percentage | 9.32% | |||||||||||||||||||||||||||||||||||||||||||
Power generation hours | 4,049 | |||||||||||||||||||||||||||||||||||||||||||
Power generation hours, year-on-year decrease | item | 380 | |||||||||||||||||||||||||||||||||||||||||||
Power generation of directly dispatched public coal-fired power units | kW | 256,790,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Power plants in Shandong province | Forecast | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Power generation of directly dispatched public coal-fired power units | kW | 252,260,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Baiyanghe Power Plant, Zhongtai Power Plant, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation, Linyi Power and Jiaxiang Power | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Goodwill impairment losses | ¥ | 661,000 | |||||||||||||||||||||||||||||||||||||||||||
Number of 145MW combined heat and power coal-fired generation units operated | MW | 2 | |||||||||||||||||||||||||||||||||||||||||||
Percentage of coals purchased from long-term contracts | 79.00% | |||||||||||||||||||||||||||||||||||||||||||
Percentage of coals purchased from spot contracts | 21.00% | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 661,000 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss on PPE and intangible assets | ¥ | 5,158,000 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Power International, Inc. Jining Power Plant ("Jining Power Plant") | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Number of 135MW combined heat and power coal-fired units operated by the cash generating units. | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Number of 350MW combined heat and power coal-fired units operated | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Number of 600MW ultra supercritical or high efficiency environmental generation units | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Number of generation units shut down for standby | item | 4 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 0 | |||||||||||||||||||||||||||||||||||||||||||
Baiyanghe Power Plant | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | T | 664.33 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,850 | |||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MWh | 393.88 | |||||||||||||||||||||||||||||||||||||||||||
Number of 300MW combined heat and power coal-fired generation units operated | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Total power generation capacity of new energy and renewable energy, year on year increase percentage reached | 19.90% | |||||||||||||||||||||||||||||||||||||||||||
Total installed capacity | MW | 890 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 750,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,850 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 3,906 | |||||||||||||||||||||||||||||||||||||||||||
Zhongtai Power Plant | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | T | 624 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,750 | |||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MWh | 393.86 | |||||||||||||||||||||||||||||||||||||||||||
Number of 150MW combined heat and power coal-fired generation units operated | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Total installed capacity | MW | 300 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 457,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,750 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 5,607 | |||||||||||||||||||||||||||||||||||||||||||
Zhongtai Power Plant | Forecast | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Fuel prices (standard coal unit price excluding tax), Forecasted | ¥ / MWh | 677 | |||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | T | 662 | |||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MWh | 388.40 | 389.90 | ||||||||||||||||||||||||||||||||||||||||||
Jiaxiang Power | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||||||||||||||||||||||||||||||||||||||||||
Number of 330MW subcritical coal-fired power generation units | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Heating supply capacity | m³ | 12,000,000 | 6,000,000 | ||||||||||||||||||||||||||||||||||||||||||
Total installed capacity | MW | 660 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 625,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 3,952 | |||||||||||||||||||||||||||||||||||||||||||
Jiaxiang Power | Forecast | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MWh | 386.90 | |||||||||||||||||||||||||||||||||||||||||||
Yunhe Power (viii) | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | T | 671.15 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||||||||||||||||||||||||||||||||||||||||||
Number of 145MW combined heat and power coal-fired generation units operated | item | 4 | |||||||||||||||||||||||||||||||||||||||||||
Number of 330MW subcritical coal-fired power generation units | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Number of small generation units included in the standby power supply for emergencies | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 986,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 3,828 | |||||||||||||||||||||||||||||||||||||||||||
Yunhe Power (viii) | Forecast | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MWh | 396.90 | |||||||||||||||||||||||||||||||||||||||||||
Yantai Power Plant | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | T | 695 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 4,250 | |||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MWh | 410.97 | |||||||||||||||||||||||||||||||||||||||||||
Number of 110MW combined heat and power coal-fired generation units operated | item | 1 | |||||||||||||||||||||||||||||||||||||||||||
Number of 160MW combined heat and power coal-fired generation units operated | item | 3 | |||||||||||||||||||||||||||||||||||||||||||
Number of combined heat and power coal-fired generation units | ¥ / MW | 4 | |||||||||||||||||||||||||||||||||||||||||||
Percentage of residential heating services | 75.00% | |||||||||||||||||||||||||||||||||||||||||||
Contract volume | kWh | 1,600,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Market power | kW | 900,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Market power, in power generation hours | kW | 1,538,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Fuel prices (standard coal unit price excluding tax), Fluctuation | ¥ / T | 20.63 | |||||||||||||||||||||||||||||||||||||||||||
Total installed capacity | MW | 590 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 661,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 4,250 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 4,182 | |||||||||||||||||||||||||||||||||||||||||||
Yantai Power Plant | Forecast | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Increase in heating volume | kWh | 180,000 | |||||||||||||||||||||||||||||||||||||||||||
Contract volume | kWh | 1,522,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Contract volume , in power generation hours | item | 2,712 | |||||||||||||||||||||||||||||||||||||||||||
Qufu Co-generation, Zhanhua Co-generation and Jining Co-generation | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Number of power plants fully impaired | item | 3 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | ¥ 0 | |||||||||||||||||||||||||||||||||||||||||||
Qufu Co-generation, Zhanhua Co-generation and Jining Co-generation | Shandong Province | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | ¥ 892,000 | |||||||||||||||||||||||||||||||||||||||||||
Other power plants in Shandong province | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 0 | |||||||||||||||||||||||||||||||||||||||||||
Liaocheng Co-generation | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | T | 628.93 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MWh | 394.90 | |||||||||||||||||||||||||||||||||||||||||||
Number of 330MW subcritical coal-fired power generation units | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Number of 140MW combined heat and power coal-fired generation units operated | ¥ / MW | 2 | |||||||||||||||||||||||||||||||||||||||||||
Total installed capacity | MW | 940 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 700,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 4,016 | |||||||||||||||||||||||||||||||||||||||||||
Linyi Power | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Forecasted heat sales volume | T | 705.66 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||||||||||||||||||||||||||||||||||||||||||
Subsidized tariff, Forecasted | ¥ / MWh | 392.91 | |||||||||||||||||||||||||||||||||||||||||||
Number of 140MW combined heat and power coal-fired generation units operated | item | 4 | |||||||||||||||||||||||||||||||||||||||||||
Number of 350MW combined heat and power coal-fired generation units operated | MW | 2 | |||||||||||||||||||||||||||||||||||||||||||
Total installed capacity | MW | 1,260 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 979,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 4,126 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Shandong Power Generation Co., Ltd | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Public coal-fired power generation volume directly dispatched | kWh | 81,536,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Public coal-fired power generation volume directly dispatched, Year on year decrease, percentage | 9.43% | |||||||||||||||||||||||||||||||||||||||||||
Power generation hours | 4,007 | |||||||||||||||||||||||||||||||||||||||||||
Power generation hours, year-on-year decrease | 42 | |||||||||||||||||||||||||||||||||||||||||||
Reduction of power generation | kW | 500,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Market power to be brought back | kW | 200,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Additional power compensation | kW | 500,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Shandong Power Generation Co., Ltd | Shandong Province | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Number of coal-fired power plants that have impairment indicators | kW | 7 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 1,620 | |||||||||||||||||||||||||||||||||||||||||||
Inter-provincial transaction price | ¥ / MWh | 110 | 200 | ||||||||||||||||||||||||||||||||||||||||||
Annual average power generation hours as stipulated in the feasibility study report | 1,951 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 352,000 | |||||||||||||||||||||||||||||||||||||||||||
Aggregate impairment loss | ¥ | 352,000 | |||||||||||||||||||||||||||||||||||||||||||
Price of non-agricultural water supply | item | 1,509 | 1,681 | 1,324 | |||||||||||||||||||||||||||||||||||||||||
Price of industrial water supply | ¥ / MWh | 438.51 | 465.86 | 511.58 | |||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 1,620 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 1,496 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Fluctuation | 124 | |||||||||||||||||||||||||||||||||||||||||||
Operating profit (loss) | ¥ | ¥ 12,000 | ¥ 5,000 | ||||||||||||||||||||||||||||||||||||||||||
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Number of 50MW back-pressure heating units | 2 | |||||||||||||||||||||||||||||||||||||||||||
Number of 350-ton high-pressure and ultra-high temperature coal-fired boilers | 3 | |||||||||||||||||||||||||||||||||||||||||||
Annual output of a petroleum cracking DCC project that was suspended | T | 7,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Actual steam supply | T | 551,600 | |||||||||||||||||||||||||||||||||||||||||||
Actual heat supply | J | 2,210 | |||||||||||||||||||||||||||||||||||||||||||
Unit price of coal imported | ¥ / T | 633.75 | |||||||||||||||||||||||||||||||||||||||||||
Ratio between imported coal and domestic coal | 4 | |||||||||||||||||||||||||||||||||||||||||||
Reference period for determining coal unit price | 10 years | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 274,000 | |||||||||||||||||||||||||||||||||||||||||||
Aggregate impairment loss | ¥ | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||
Operating profit (loss) | ¥ | 123,000 | 134,000 | 167,000 | |||||||||||||||||||||||||||||||||||||||||
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | Forecast | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Estimated steam supply | kT | 2,338 | 1,798 | 1,284 | 918 | 706 | |||||||||||||||||||||||||||||||||||||||
Forecasted heat supply | J | 2,500 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | Forecast Period, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 2,093 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 2,093 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | Forecast Period, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 2,084 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 2,084 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | Forecast period: 2026 & thereafter | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Estimated steam supply | kT | 2,712 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | Forecast period: 2022 and thereafter | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Forecasted heat supply | J | 2,600 | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Zuoquan Coal-fired Power Generation Limited Liability Company ("Zuoquan Coal-fired Power ") (f) | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Fuel prices (standard coal unit price excluding tax), Forecasted | ¥ / T | 460 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 4,664 | |||||||||||||||||||||||||||||||||||||||||||
Fuel prices (standard coal unit price excluding tax), Fluctuation | ¥ / T | 15.1 | |||||||||||||||||||||||||||||||||||||||||||
Total installed capacity | MW | 192 | |||||||||||||||||||||||||||||||||||||||||||
Number of double-fed wind turbines installed | MW | 96 | |||||||||||||||||||||||||||||||||||||||||||
Number of 600,000-kilowatt coal-fired generation units operated | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Total electricity volume | kWh | 5,333,000,000 | |||||||||||||||||||||||||||||||||||||||||||
Terminal tariff of the end users | ¥ / MWh | 300 | |||||||||||||||||||||||||||||||||||||||||||
On-grid tariff | ¥ / MWh | 150 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | 270,000 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss on PPE and intangible assets | ¥ | 270,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 4,664 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 4,421 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Fluctuation | 243 | |||||||||||||||||||||||||||||||||||||||||||
Operating profit (loss) | ¥ | 50,000 | ¥ 83,000 | ¥ 50,000 | |||||||||||||||||||||||||||||||||||||||||
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 1,765 | |||||||||||||||||||||||||||||||||||||||||||
Total installed capacity | MW | 82 | |||||||||||||||||||||||||||||||||||||||||||
Number of sets of 40MW unit | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Number of sets of 1MW unit | item | 2 | |||||||||||||||||||||||||||||||||||||||||||
Impairment loss recognised in profit or loss, property, plant and equipment | ¥ | ¥ 168,000 | ¥ 92,000 | ||||||||||||||||||||||||||||||||||||||||||
Impairment loss on PPE and intangible assets | ¥ | ¥ 148,000 | |||||||||||||||||||||||||||||||||||||||||||
Aggregate impairment loss | ¥ | ¥ 240,000 | |||||||||||||||||||||||||||||||||||||||||||
Price of non-agricultural water supply | ¥ / m³ | 0.2 | |||||||||||||||||||||||||||||||||||||||||||
Price of industrial water supply | ¥ / m³ | 0.24 | |||||||||||||||||||||||||||||||||||||||||||
Price of water supply agreed between Hainan Provincial Government and Huaneng Group | ¥ / m³ | 0.867 | |||||||||||||||||||||||||||||||||||||||||||
Average daily water supply | m³ | 11,000 | |||||||||||||||||||||||||||||||||||||||||||
Average daily water supply, Target | m³ | 100,000 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecasted | 1,765 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Actual | 839 | 839 | ||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Fluctuation | 926 | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), estimation period | 5 years | |||||||||||||||||||||||||||||||||||||||||||
Annual water supply | m³ | 4,330,000 | |||||||||||||||||||||||||||||||||||||||||||
Average unit price of water supply (tax included) | 0.22 | 0.22 | ||||||||||||||||||||||||||||||||||||||||||
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | Minimum Range | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Fluctuation period | 29 days | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | Maximum Range | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Fluctuation period | 3 years 10 months 24 days | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | Forecast | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Average daily water supply | m³ | 50,000 | |||||||||||||||||||||||||||||||||||||||||||
Estimated daily water supply | m³ | 30,900 | 11,800 | ||||||||||||||||||||||||||||||||||||||||||
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | Forecast Period, 2021 | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecast period | 1 year 2 months 5 days | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | Forecast Period, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecast period | 3 years 1 month 2 days | |||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), estimation period | 1 year 1 month 6 days | |||||||||||||||||||||||||||||||||||||||||||
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | Forecast period: 2023 and afterwards | ||||||||||||||||||||||||||||||||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||||||||||||||||||||||||||||||||||||||||||
Sales volume ( Power generation hours), Forecast period | 5 years | |||||||||||||||||||||||||||||||||||||||||||
Estimated daily water supply | m³ | 500,000 |
Property, plant and equipment_8
Property, plant and equipment (Key assumptions used in estimating the recoverable amount of the CGUs - Guilin Gas Energy) (Details) kW in Millions | 12 Months Ended | 132 Months Ended | 192 Months Ended | ||||||||||||
Dec. 31, 2047TkT¥ / MWh | Dec. 31, 2036kT | Dec. 31, 2035kT | Dec. 31, 2025itemh / yrkT | Dec. 31, 2024itemkT | Dec. 31, 2023itemkT¥ / MWh | Dec. 31, 2022itemkTT¥ / MWh | Dec. 31, 2021h / yr | Dec. 31, 2021kT | Dec. 31, 2021¥ / MWh | Dec. 31, 2021T | Dec. 31, 2021kW | Dec. 31, 2020h / yritemT¥ / MWh | Dec. 31, 2031¥ / MW | Dec. 31, 2047¥ / MWh | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | h / yr | 4,140 | ||||||||||||||
Subsidized tariff, Actual | 397.63 | ||||||||||||||
Sales volume (Heat sales volume), Actual | T | 624 | ||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Actual | h / yr | 2,110 | ||||||||||||||
Subsidized tariff, Forecasted | 620.70 | ||||||||||||||
Subsidized tariff, Actual | 620.70 | ||||||||||||||
Tariff without subsidies, Forecasted | 356 | ||||||||||||||
Tariff without subsidies, Actual | 356 | ||||||||||||||
Sales volume (Heat sales volume), Actual | T | 14 | ||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | Forecast | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | 2,421 | 2,388 | 2,363 | 2,321 | 487 | ||||||||||
Subsidized tariff, Forecasted | ¥ / MW | 620.7 | ||||||||||||||
Tariff without subsidies, Forecasted | ¥ / MW | 356 | ||||||||||||||
On-grid tariff (including tax), Forecasted | 420.7 | ||||||||||||||
Sales volume (Heat sales volume), Forecasted | 730,000 | 61 | 41 | 40 | 38 | 36 | 34 | ||||||||
Increase (decrease) in sales volume (Heat sales volume) | T | 200,000 | ||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | Forecast | Minimum | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | item | 2,363 | ||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | Forecast | Maximum | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume (Heat sales volume), Forecasted | T | 200,000 | ||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | Forecast Period, After 2025 [Member] | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Tariff without subsidies, Forecasted | 420.70 | ||||||||||||||
Sales volume (Heat sales volume), Forecasted | kT | 73 | 62 | |||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | Forecast Period, After 2025 [Member] | Minimum | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | h / yr | 2,455 | ||||||||||||||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | Forecast Period, After 2025 [Member] | Maximum | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | item | 3,738 | 3,738 | |||||||||||||
Baiyanghe Power Plant | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | h / yr | 3,850 | ||||||||||||||
Sales volume ( Power generation hours), Actual | h / yr | 3,906 | ||||||||||||||
Subsidized tariff, Forecasted | 393.88 | ||||||||||||||
Subsidized tariff, Actual | 400.60 | ||||||||||||||
Sales volume (Heat sales volume), Forecasted | T | 664.33 | ||||||||||||||
Sales volume (Heat sales volume), Actual | T | 639.09 | ||||||||||||||
Zhongtai Power Plant | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | h / yr | 3,750 | ||||||||||||||
Sales volume ( Power generation hours), Actual | h / yr | 5,607 | ||||||||||||||
Subsidized tariff, Forecasted | 393.86 | ||||||||||||||
Subsidized tariff, Actual | 395.22 | ||||||||||||||
Sales volume (Heat sales volume), Forecasted | T | 624 | ||||||||||||||
Sales volume (Heat sales volume), Actual | T | 576.98 | ||||||||||||||
Zhongtai Power Plant | Forecast | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Subsidized tariff, Forecasted | 388.40 | 389.90 | |||||||||||||
Sales volume (Heat sales volume), Forecasted | T | 662 | ||||||||||||||
Jiaxiang Power | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | h / yr | 3,900 | ||||||||||||||
Sales volume ( Power generation hours), Actual | h / yr | 3,952 | ||||||||||||||
Jiaxiang Power | Forecast | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Subsidized tariff, Forecasted | 386.90 | ||||||||||||||
Yunhe Power (viii) | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | h / yr | 3,900 | ||||||||||||||
Sales volume ( Power generation hours), Actual | h / yr | 3,828 | ||||||||||||||
Subsidized tariff, Actual | 402.71 | ||||||||||||||
Sales volume (Heat sales volume), Forecasted | T | 671.15 | ||||||||||||||
Sales volume (Heat sales volume), Actual | T | 642.81 | ||||||||||||||
Yunhe Power (viii) | Forecast | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Subsidized tariff, Forecasted | 396.90 | ||||||||||||||
Yantai Power Plant | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | h / yr | 4,250 | ||||||||||||||
Sales volume ( Power generation hours), Actual | h / yr | 4,182 | ||||||||||||||
Subsidized tariff, Forecasted | 410.97 | ||||||||||||||
Subsidized tariff, Actual | 410.82 | ||||||||||||||
Sales volume (Heat sales volume), Forecasted | T | 695 | ||||||||||||||
Sales volume (Heat sales volume), Actual | T | 715.63 | ||||||||||||||
Liaocheng Co-generation | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | h / yr | 3,900 | ||||||||||||||
Sales volume ( Power generation hours), Actual | h / yr | 4,016 | ||||||||||||||
Subsidized tariff, Forecasted | 394.90 | ||||||||||||||
Subsidized tariff, Actual | 397.42 | ||||||||||||||
Sales volume (Heat sales volume), Forecasted | T | 628.93 | ||||||||||||||
Sales volume (Heat sales volume), Actual | T | 617.47 | ||||||||||||||
Linyi Power | |||||||||||||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||||||||||||
Sales volume ( Power generation hours), Forecasted | h / yr | 3,900 | ||||||||||||||
Sales volume ( Power generation hours), Actual | h / yr | 4,126 | ||||||||||||||
Subsidized tariff, Forecasted | 392.91 | ||||||||||||||
Subsidized tariff, Actual | 408.55 | ||||||||||||||
Sales volume (Heat sales volume), Forecasted | T | 705.66 | ||||||||||||||
Sales volume (Heat sales volume), Actual | T | 692.23 |
Property, plant and equipment -
Property, plant and equipment - Key assumptions used in estimating the recoverable amount of the CGUs - Baiyanghe Power Plant, Zhongtai Power Plant, Jiaxiang Power, Yunhe Power, Yantai Power Plant, Liaocheng Co-generation and Linyi Power (Details) | 12 Months Ended | |||
Dec. 31, 2023¥ / MWh | Dec. 31, 2022¥ / MWh | Dec. 31, 2021¥ / MWh | Dec. 31, 2020h / yr¥ / T | |
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Sales volume ( Power generation hours), Forecasted | 4,140 | |||
Baiyanghe Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Sales volume ( Power generation hours), Forecasted | 3,850 | |||
Sales volume ( Power generation hours), Actual | 3,906 | |||
Zhongtai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Sales volume ( Power generation hours), Forecasted | 3,750 | |||
Sales volume ( Power generation hours), Actual | 5,607 | |||
Zhongtai Power Plant | Forecast | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Fuel prices (standard coal unit price excluding tax), Forecasted | ¥ / MWh | 677 | |||
Jiaxiang Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||
Sales volume ( Power generation hours), Actual | 3,952 | |||
Yunhe Power (viii) | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||
Sales volume ( Power generation hours), Actual | 3,828 | |||
Yunhe Power (viii) | Forecast | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Forecasted Tariff | ¥ / MWh | 394.90 | 395.90 | ||
Yantai Power Plant | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Sales volume ( Power generation hours), Forecasted | 4,250 | |||
Sales volume ( Power generation hours), Actual | 4,182 | |||
Fuel prices (standard coal unit price excluding tax), Fluctuation | ¥ / T | 20.63 | |||
Liaocheng Co-generation | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||
Sales volume ( Power generation hours), Actual | 4,016 | |||
Linyi Power | ||||
Disclosure of detailed information about property, plant and equipment [line items] | ||||
Sales volume ( Power generation hours), Forecasted | 3,900 | |||
Sales volume ( Power generation hours), Actual | 4,126 |
Property, plant and equipment_9
Property, plant and equipment - Key assumptions used in estimating the recoverable amount of the CGUs - Tongwei Wind Power (Details) | 12 Months Ended |
Dec. 31, 2020h / yr¥ / MWh | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Sales volume ( Power generation hours), Forecasted | 4,140 |
Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Sales volume ( Power generation hours), Forecasted | 1,620 |
Sales volume ( Power generation hours), Actual | 1,496 |
Sales volume ( Power generation hours), Fluctuation | 124 |
Forecasted Average Tariff | ¥ / MWh | 385.38 |
Actual Average Tariff | ¥ / MWh | 336.60 |
Fluctuation in Average Tariff | ¥ / MWh | 48.78 |
Property, plant and equipmen_10
Property, plant and equipment - Key assumptions used in estimating the recoverable amount of the CGUs - Xianrendao Co-generation (Details) | 12 Months Ended | |
Dec. 31, 2023Jh / yr¥ / T | Dec. 31, 2020Jh / yr¥ / T | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume ( Power generation hours), Forecasted | 4,140 | |
Forecast Period, 2021 | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume (Heat supply) (10,000 GJ), Forecasted | J | 454.67 | |
Sales volume ( Power generation hours), Forecasted | 2,093 | |
Forecast Period, 2022 | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume (Heat supply) (10,000 GJ), Forecasted | J | 526.06 | |
Sales volume ( Power generation hours), Forecasted | 2,084 | |
Forecast Period, 2023 | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume ( Power generation hours), Actual | 1,705 | |
Forecast Period, 2023 | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume (Heat supply) (10,000 GJ), Forecasted | J | 632.49 | |
Sales volume (Heat supply) (10,000 GJ), Actual | J | 376.28 | |
Sales volume ( Power generation hours), Forecasted | 2,506 | |
Fuel prices (standard coal price, excluding tax), Forecasted | ¥ / T | 694.97 | |
Fuel prices (standard coal price, excluding tax), Actual | ¥ / T | 633.75 | |
Fuel prices (standard coal price, excluding tax), Fluctuation | ¥ / T | 61.22 | |
Forecast Period, 2023 | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | Minimum | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume (Heat supply) (10,000 GJ), Fluctuation | J | 78 | |
Sales volume ( Power generation hours), Fluctuation | 388 | |
Forecast Period, 2023 | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | Maximum | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume (Heat supply) (10,000 GJ), Fluctuation | J | 670 | |
Sales volume ( Power generation hours), Fluctuation | 2,442 | |
Forecast Period, 2024 | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume (Heat supply) (10,000 GJ), Forecasted | J | 781.49 | |
Sales volume ( Power generation hours), Forecasted | 3,097 | |
Forecast Period, 2025 | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume (Heat supply) (10,000 GJ), Forecasted | J | 937.93 | |
Sales volume ( Power generation hours), Forecasted | 3,717 | |
Forecast period: After 2026 | Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume (Heat supply) (10,000 GJ), Forecasted | J | 1,046.40 | |
Sales volume ( Power generation hours), Forecasted | 4,147 |
Property, plant and equipmen_11
Property, plant and equipment - Key assumptions used in estimating the recoverable amount of the CGUs - Zuoquan Coal-fired Power (Details) | 12 Months Ended |
Dec. 31, 2020h / yr¥ / MWh¥ / T | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Sales volume ( Power generation hours), Forecasted | 4,140 |
Huaneng Zuoquan Coal-fired Power Generation Limited Liability Company ("Zuoquan Coal-fired Power ") (f) | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Sales volume ( Power generation hours), Forecasted | 4,664 |
Sales volume ( Power generation hours), Actual | 4,421 |
Sales volume ( Power generation hours), Fluctuation | 243 |
Forecasted Average Tariff | ¥ / MWh | 249.56 |
Actual Average Tariff | ¥ / MWh | 278.28 |
Fluctuation in Average Tariff | ¥ / MWh | 28.72 |
Fuel prices (standard coal price, excluding tax), Forecasted | ¥ / T | 460 |
Fuel prices (standard coal price, excluding tax), Actual | ¥ / T | 444.90 |
Fuel prices (standard coal price, excluding tax), Fluctuation | ¥ / T | 15.1 |
Property, plant and equipmen_12
Property, plant and equipment - Discount rate (Details) - item | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
After-tax discount rate | 7.00% | ||
Risk-free rate | 3.95% | ||
Beta Coefficient | 0.6903 | ||
Equity Risk Premiums | 7.07% | ||
Specific Risk Premium Rate | 4.00% | ||
Cost of Debt | 3.85% | ||
Enterprise Income Tax Rate | 25.00% | 25.00% | 25.00% |
Maturity term of debt for cost of debt | 1 year | ||
Minimum | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Pre-tax discount rate | 7.21% | ||
Maximum | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Pre-tax discount rate | 9.41% |
Property, plant and equipmen_13
Property, plant and equipment - Impairment losses for individual asset - decommission PPE (Details) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥)item | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Provision for impairment losses on property, plant and equipment | ¥ 7,847,378 | ¥ 5,719,990 | ¥ 989,778 |
Huaneng Hainan Power Generation Company Limited Haikou Power Plant [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Provision for impairment losses on property, plant and equipment | 127,262 | ||
Huaneng Power International, Inc. Nantong Power Plant [Member] | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Provision for impairment losses on property, plant and equipment | 85,938 | ||
Beijing Co-generation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Provision for impairment losses on property, plant and equipment | ¥ 84,060 | ||
Number of years during which the assets were in normal use | 3 years | ||
Other items | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Provision for impairment losses on property, plant and equipment | ¥ 46,730 | ||
Number of other items | item | 41 | ||
Total | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Provision for impairment losses on property, plant and equipment | ¥ 343,990 |
Property, plant and equipmen_14
Property, plant and equipment - Impairment losses for pre-construction costs (Details) ¥ in Thousands | 1 Months Ended | 12 Months Ended | |||
Apr. 30, 2020item | Dec. 31, 2020CNY (¥)item | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | Aug. 31, 2015CNY (¥) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Provision for impairment losses on property, plant and equipment | ¥ 7,847,378 | ¥ 5,719,990 | ¥ 989,778 | ||
Impairment loss on other non-current assets | 349,559 | ¥ 464,867 | ¥ 8,432 | ||
Amount invested | 558,000 | ||||
Impairment recognized | 418,000 | ||||
Minimum | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Pre-tax and non-inflation rate. | 7.00% | ||||
Maximum | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Pre-tax and non-inflation rate. | 12.77% | ||||
PRC | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Impairment losses for property, plant and equipment | ¥ 5,720,000 | ||||
CGUs with indicator of impairment | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Impairment losses for property, plant and equipment | 8,879,000 | ||||
CIP | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Provision for impairment losses on property, plant and equipment | 68,830 | ¥ 1,255,117 | |||
Impairment loss on other non-current assets | 68,000 | ||||
Huaneng Huaiyin Power Generation Co., Ltd. ("Huaiyin Power") Guanyun Large Unit Project (i) | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Provision for impairment losses on property, plant and equipment | 260,000 | ||||
Designed investment | 7,900,000 | ||||
Amount invested | 260,000 | ¥ 235,000 | |||
Impairment recognized | 260,000 | ||||
Number of 1,000MW large-capacity, high-efficiency and ultra-low-emission coal-fired generating unit project | item | 2 | ||||
Pre-construction cots | 260,000 | ||||
Huaneng Chaohu Power Generation Co., Ltd. ("Chaohu Power") Phase II Expansion Project (ii) | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Designed investment | 4,128,000 | ||||
Amount invested | 196,000 | ||||
Impairment recognized | 56,000 | ||||
Pre-construction cots | ¥ 290,000 | ||||
Number of 660MW high-efficiency ultra-supercritical plant | item | 2 | ||||
Total amount of investment in project | ¥ 3,959,000 | ||||
Huaneng Luoyuan Power Generation Co., Ltd. ("Luoyuan Power") Phase II New Project (iii) | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Designed investment | 5,306,170 | ||||
Amount invested | 48,000 | ||||
Impairment recognized | ¥ 48,000 | ||||
Minimum period since the project is suspended | 3 years | ||||
Other items | |||||
Disclosure of detailed information about property, plant and equipment [line items] | |||||
Provision for impairment losses on property, plant and equipment | ¥ 46,730 | ||||
Amount invested | 54,000 | ||||
Impairment recognized | ¥ 54,000 | ||||
Number of other items | item | 41 |
Property, plant and equipmen_15
Property, plant and equipment - Disposal of non-current assets (Details) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥)item | Dec. 31, 2019CNY (¥) | Dec. 31, 2018CNY (¥) | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | ¥ 626,657 | ¥ (69,449) | ¥ (42,506) |
Property, plant and equipment | 300,171,142 | 285,622,907 | 282,061,272 |
Beijing Co-generation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | 106,080 | ||
Huaneng Chongqing Luohuang Energy Sales Limited Liability Company ("Luohuang Energy Sales") (ii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | 80,683 | ||
Yingkou Power Plant (iii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | 74,851 | ||
Huaneng Qidong Wind Power Generation Co., Ltd. ("Qidong Wind Power") (iv) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | 44,292 | ||
Huaneng Qinbei Power Generation Co., Ltd. ("Qinbei Power") (v) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | 26,999 | ||
Laiwu Power (vi) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | 24,944 | ||
Huaneng (Suzhou Industrial Park) Power Generation Co., Ltd. ("Suzhou Industrial Park Power") (vii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | 24,514 | ||
Yunhe Power (viii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | 23,978 | ||
Huaneng Power International, Inc. Yuhuan Power Plant ("Yuhuan Power Plant") (ix) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | 20,378 | ||
Other items | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | ¥ 199,938 | ||
Number of other items | item | 41 | ||
Original cost | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 595,034,068 | ¥ 556,244,130 | ¥ 526,657,481 |
Dismantled and scrapped equipment | Beijing Co-generation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 106,000 | ||
Dismantled and scrapped equipment | Huaneng Chongqing Luohuang Energy Sales Limited Liability Company ("Luohuang Energy Sales") (ii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 81,000 | ||
Dismantled and scrapped equipment | Yingkou Power Plant (iii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 66,000 | ||
Number of equipment parts dismantled | item | 266 | ||
Dismantled and scrapped equipment | Huaneng Qinbei Power Generation Co., Ltd. ("Qinbei Power") (v) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 27,000 | ||
Dismantled and scrapped equipment | Huaneng (Suzhou Industrial Park) Power Generation Co., Ltd. ("Suzhou Industrial Park Power") (vii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 25,000 | ||
Number of batches of coal storage yard windbreak, dust suppression walls, rotary heat exchangers dismantled | item | 2 | ||
Number of absorption tower circulating pumps dismantled | item | 8 | ||
Dismantled and scrapped equipment | Huaneng Power International, Inc. Yuhuan Power Plant ("Yuhuan Power Plant") (ix) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Net (gain)/ loss on disposals of non-current assets | ¥ 20,000 | ||
Property, plant and equipment | ¥ 23,000 | ||
Number of equipment parts dismantled | item | 130 | ||
Dismantled and scrapped equipment | Original cost | Beijing Co-generation | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 525,000 | ||
Dismantled and scrapped equipment | Original cost | Huaneng Chongqing Luohuang Energy Sales Limited Liability Company ("Luohuang Energy Sales") (ii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 283,000 | ||
Dismantled and scrapped equipment | Original cost | Yingkou Power Plant (iii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 270,000 | ||
Dismantled and scrapped equipment | Original cost | Huaneng Qinbei Power Generation Co., Ltd. ("Qinbei Power") (v) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 100,000 | ||
Dismantled and scrapped equipment | Original cost | Huaneng (Suzhou Industrial Park) Power Generation Co., Ltd. ("Suzhou Industrial Park Power") (vii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 67,000 | ||
Dismantled and scrapped equipment | Original cost | Huaneng Power International, Inc. Yuhuan Power Plant ("Yuhuan Power Plant") (ix) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 145,000 | ||
Customized spare parts | Yingkou Power Plant (iii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 9,000 | ||
Wind turbine blades | Huaneng Qidong Wind Power Generation Co., Ltd. ("Qidong Wind Power") (iv) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 49,000 | ||
Number of wind turbine blades dismantled | item | 60 | ||
Wind turbine blades | Original cost | Huaneng Qidong Wind Power Generation Co., Ltd. ("Qidong Wind Power") (iv) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 111,000 | ||
SNCR denitrification system | Laiwu Power (vi) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 25,000 | ||
SNCR denitrification system | Original cost | Laiwu Power (vi) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | 44,000 | ||
Condenser and other equipment | Yunhe Power (viii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 26,000 | ||
Number of equipment parts dismantled | item | 96 | ||
Condenser and other equipment | Other items | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Number of other items | item | 55 | ||
Condenser and other equipment | Original cost | Yunhe Power (viii) | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Property, plant and equipment | ¥ 130,000 |
Property, plant and equipmen_16
Property, plant and equipment (Buildings without ownership certificate) (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Property, plant and equipment . | ||
Aggregate net book value | ¥ 6,209 | ¥ 7,779 |
Property, plant and equipmen_17
Property, plant and equipment - Key assumptions used in estimating the recoverable amount of the CGUs - Gezhen Hydropower (Details) - 12 months ended Dec. 31, 2020 | h / yr | h / Y |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume ( Power generation hours), Forecasted | 4,140 | |
Huaneng Hainan Power Generation Co., Ltd. Gezhen Hydropower Plant ("Gezhen Hydropower ") (g) | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Sales volume ( Power generation hours), Forecasted | 1,765 | |
Sales volume ( Power generation hours), Actual | 839 | 839 |
Sales volume ( Power generation hours), Fluctuation | 926 |
Investments in associates and_3
Investments in associates and joint ventures (Summary of investments in associates and joint ventures) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Investments in associates and joint ventures | ||
Beginning of the year | ¥ 20,783,259 | ¥ 19,553,964 |
Capital injections in associates and joint ventures | 596,877 | 313,197 |
Share of net profits less loss | 1,774,322 | 1,185,622 |
Share of other comprehensive income/(loss) | (182,849) | 368,696 |
Share of other capital reserve of equity-method investees | 7,607 | |
Dividends | (603,839) | (638,220) |
End of the year | ¥ 22,375,377 | ¥ 20,783,259 |
Investments in associates and_4
Investments in associates and joint ventures (Basic information of material associates and joint ventures) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Sichuan Hydropower [member] | ||
Summarized financial information of investments in associates and joint ventures [line items] | ||
Country of incorporation | PRC | |
Registered capital | ¥ 1,469,800,000 | |
Business nature and scope of operation | Development, investment, construction, operation and management of hydropower | |
Percentage of equity interest held, Direct | 49.00% | |
Percentage of equity interest held, Indirect | 0.00% | |
SECL [member] | ||
Summarized financial information of investments in associates and joint ventures [line items] | ||
Country of incorporation | PRC | |
Registered capital | ¥ 3,964,491,597 | |
Business nature and scope of operation | Energy and investment in related industries | |
Percentage of equity interest held, Direct | 25.02% | |
Percentage of equity interest held, Indirect | 0.00% | |
The fair value of the Company's shares | ¥ 7,248,000 | ¥ 6,159,000 |
Hanfeng Power [member] | ||
Summarized financial information of investments in associates and joint ventures [line items] | ||
Country of incorporation | PRC | |
Registered capital | ¥ 1,975,000,000 | |
Business nature and scope of operation | Power generation | |
Percentage of equity interest held, Direct | 40.00% | |
Percentage of equity interest held, Indirect | 0.00% | |
Huaneng Finance | ||
Summarized financial information of investments in associates and joint ventures [line items] | ||
Country of incorporation | PRC | |
Registered capital | ¥ 5,000,000,000 | |
Business nature and scope of operation | Provision for financial service including fund deposit and lending services, finance lease arrangements, notes discounting and entrusted loans and investment arrangements within Huaneng Group | |
Percentage of equity interest held, Direct | 20.00% | |
Percentage of equity interest held, Indirect | 0.00% | |
Huaneng Group Fuel Company [member] | ||
Summarized financial information of investments in associates and joint ventures [line items] | ||
Country of incorporation | PRC | |
Registered capital | ¥ 3,000,000,000 | |
Business nature and scope of operation | Wholesale of coal, import and export of coal | |
Percentage of equity interest held, Direct | 50.00% | |
Percentage of equity interest held, Indirect | 0.00% | |
Hainan Nuclear [member] | ||
Summarized financial information of investments in associates and joint ventures [line items] | ||
Country of incorporation | PRC | |
Registered capital | ¥ 5,134,560,000 | |
Business nature and scope of operation | Construction and operation of nuclear power plants; production and sales of electricity and related products | |
Percentage of equity interest held, Direct | 30.00% | |
Percentage of equity interest held, Indirect | 0.00% | |
Shanghai Time Shipping [member] | ||
Summarized financial information of investments in associates and joint ventures [line items] | ||
Country of incorporation | PRC | |
Registered capital | ¥ 1,200,000,000 | |
Business nature and scope of operation | International and domestic sea transportation | |
Percentage of equity interest held, Direct | 50.00% | |
Percentage of equity interest held, Indirect | 0.00% | |
Jiangsu Nantong Power [member] | ||
Summarized financial information of investments in associates and joint ventures [line items] | ||
Country of incorporation | PRC | |
Registered capital | ¥ 1,596,000,000 | |
Business nature and scope of operation | Operation and Management of power generation plants and transportation related projects | |
Percentage of equity interest held, Indirect | 35.00% |
Investments in associates and_5
Investments in associates and joint ventures (Summarized financial information of material associates) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Gross amounts of the associates' | ||||
Current assets | ¥ 66,137,631 | ¥ 60,781,401 | ||
Non-current assets | 383,767,027 | 367,468,662 | ||
Current liabilities | (154,048,091) | (141,620,410) | ||
Non-current liabilities | (144,240,369) | (156,250,607) | ||
Equity | 151,616,198 | 130,379,046 | ¥ 116,121,670 | ¥ 107,614,604 |
Equity attributable to shareholders | 129,845,923 | 108,803,735 | ||
Non-controlling interests. | 21,770,275 | 21,575,311 | ||
Revenue | 169,446,338 | 174,009,401 | 169,550,624 | |
Profit | 2,610,563 | 1,108,205 | 1,329,974 | |
Consolidated net profit attributable to equity holders of the Company | 2,377,851 | 766,345 | 734,435 | |
Total comprehensive income/(loss) attributable to shareholders | 1,599,471 | 1,498,013 | ¥ 340,101 | |
Sichuan Hydropower [member] | ||||
Gross amounts of the associates' | ||||
Current assets | 825,632 | 873,821 | ||
Non-current assets | 14,836,413 | 14,305,871 | ||
Current liabilities | (3,731,524) | (2,772,221) | ||
Non-current liabilities | (7,171,879) | (7,788,402) | ||
Equity | 4,758,642 | 4,619,069 | ||
Equity attributable to shareholders | 3,568,982 | 3,464,302 | ||
Non-controlling interests. | 1,189,660 | 1,154,767 | ||
Revenue | 2,396,218 | 2,252,535 | ||
Gross Profit | 701,606 | 575,401 | ||
Profit | 555,009 | 509,034 | ||
Consolidated net profit attributable to equity holders of the Company | 348,660 | 327,042 | ||
Total comprehensive income/(loss) attributable to shareholders | 348,660 | 327,042 | ||
Dividend received from the associates | 98,449 | 116,505 | ||
Reconciled to the interests in the associates | ||||
Gross amounts of net assets attributable to shareholders of the associate | ¥ 3,568,982 | ¥ 3,464,302 | ||
The Group's effective interest | 49.00% | 49.00% | ||
The Group's share of net assets attributable to shareholders of the associate | ¥ 1,748,801 | ¥ 1,697,508 | ||
Impact of adjustments | 207,586 | 207,586 | ||
Carrying amount in the consolidated financial statements | 1,956,387 | 1,905,094 | ||
SECL [member] | ||||
Gross amounts of the associates' | ||||
Current assets | 21,111,690 | 20,887,020 | ||
Non-current assets | 92,332,480 | 76,623,640 | ||
Current liabilities | (22,565,250) | (25,533,260) | ||
Non-current liabilities | (48,951,200) | (38,446,550) | ||
Equity | 41,927,720 | 33,530,850 | ||
Equity attributable to shareholders | 27,346,169 | 24,103,107 | ||
Non-controlling interests. | 14,581,551 | 9,427,743 | ||
Revenue | 20,597,600 | 20,851,430 | ||
Gross Profit | 5,952,100 | 6,472,550 | ||
Profit | 4,248,550 | 1,749,600 | ||
Consolidated net profit attributable to equity holders of the Company | 3,929,390 | 1,598,540 | ||
Other comprehensive income/(loss) attributable to shareholders | (578,559) | 1,589,390 | ||
Total comprehensive income/(loss) attributable to shareholders | 3,350,831 | 3,187,930 | ||
Dividend received from the associates | 49,587 | 49,587 | ||
Reconciled to the interests in the associates | ||||
Gross amounts of net assets attributable to shareholders of the associate | ¥ 27,346,169 | ¥ 24,103,107 | ||
The Group's effective interest | 25.02% | 25.02% | ||
The Group's share of net assets attributable to shareholders of the associate | ¥ 6,842,011 | ¥ 6,030,597 | ||
Impact of adjustments | 1,161,810 | 1,161,810 | ||
Carrying amount in the consolidated financial statements | 8,003,821 | 7,192,407 | ||
Huaneng Finance | ||||
Gross amounts of the associates' | ||||
Current assets | 27,426,242 | 23,099,357 | ||
Non-current assets | 20,003,370 | 20,746,004 | ||
Current liabilities | (40,458,908) | (36,733,579) | ||
Non-current liabilities | (553) | (30,867) | ||
Equity | 6,970,151 | 7,080,915 | ||
Equity attributable to shareholders | 6,970,151 | 7,080,915 | ||
Revenue | 1,600,537 | 1,574,856 | ||
Gross Profit | 1,014,653 | 1,064,181 | ||
Profit | 943,215 | 1,004,048 | ||
Consolidated net profit attributable to equity holders of the Company | 943,215 | 1,004,048 | ||
Other comprehensive income/(loss) attributable to shareholders | (153,979) | (150,286) | ||
Total comprehensive income/(loss) attributable to shareholders | 789,236 | 853,762 | ||
Dividend received from the associates | 180,000 | 146,000 | ||
Reconciled to the interests in the associates | ||||
Gross amounts of net assets attributable to shareholders of the associate | ¥ 6,970,151 | ¥ 7,080,915 | ||
The Group's effective interest | 20.00% | 20.00% | ||
The Group's share of net assets attributable to shareholders of the associate | ¥ 1,394,030 | ¥ 1,416,183 | ||
Carrying amount in the consolidated financial statements | 1,394,030 | 1,416,183 | ||
Hanfeng Power [member] | ||||
Gross amounts of the associates' | ||||
Current assets | 964,515 | 849,386 | ||
Non-current assets | 1,279,233 | 1,661,565 | ||
Current liabilities | (328,093) | (442,628) | ||
Non-current liabilities | (36,218) | (166,718) | ||
Equity | 1,879,437 | 1,901,605 | ||
Equity attributable to shareholders | 1,879,437 | 1,901,605 | ||
Revenue | 1,873,548 | 2,081,865 | ||
Gross Profit | 22,637 | (46,899) | ||
Profit | 6,426 | (54,444) | ||
Consolidated net profit attributable to equity holders of the Company | 6,426 | (54,444) | ||
Total comprehensive income/(loss) attributable to shareholders | 6,426 | (54,444) | ||
Dividend received from the associates | 43,132 | |||
Reconciled to the interests in the associates | ||||
Gross amounts of net assets attributable to shareholders of the associate | ¥ 1,879,437 | ¥ 1,901,605 | ||
The Group's effective interest | 40.00% | 40.00% | ||
The Group's share of net assets attributable to shareholders of the associate | ¥ 751,775 | ¥ 760,642 | ||
Impact of adjustments | 293,082 | 293,082 | ||
Carrying amount in the consolidated financial statements | 1,044,857 | 1,053,724 | ||
Huaneng Group Fuel Company [member] | ||||
Gross amounts of the associates' | ||||
Current assets | 5,263,174 | 6,010,002 | ||
Non-current assets | 3,641,641 | 3,781,166 | ||
Current liabilities | (3,066,531) | (3,827,415) | ||
Non-current liabilities | (1,780,436) | (2,121,112) | ||
Equity | 4,057,848 | 3,842,641 | ||
Equity attributable to shareholders | 3,688,698 | 3,590,096 | ||
Non-controlling interests. | 369,150 | 252,545 | ||
Revenue | 29,928,618 | 27,832,662 | ||
Gross Profit | 284,754 | 173,371 | ||
Profit | 222,488 | 150,460 | ||
Consolidated net profit attributable to equity holders of the Company | 207,297 | 144,500 | ||
Other comprehensive income/(loss) attributable to shareholders | (8,695) | 2,164 | ||
Total comprehensive income/(loss) attributable to shareholders | 198,602 | 146,664 | ||
Dividend received from the associates | 50,000 | 20,000 | ||
Reconciled to the interests in the associates | ||||
Gross amounts of net assets attributable to shareholders of the associate | ¥ 3,688,698 | ¥ 3,590,096 | ||
The Group's effective interest | 50.00% | 50.00% | ||
The Group's share of net assets attributable to shareholders of the associate | ¥ 1,844,349 | ¥ 1,795,048 | ||
Impact of adjustments | 16,521 | 16,521 | ||
Carrying amount in the consolidated financial statements | 1,860,870 | 1,811,569 | ||
Hainan Nuclear [member] | ||||
Gross amounts of the associates' | ||||
Current assets | 1,894,806 | 3,085,059 | ||
Non-current assets | 19,826,469 | 20,749,672 | ||
Current liabilities | (4,025,596) | (3,338,370) | ||
Non-current liabilities | (13,041,682) | (15,930,100) | ||
Equity | 4,653,997 | 4,566,261 | ||
Equity attributable to shareholders | 4,653,997 | 4,566,261 | ||
Revenue | 3,367,222 | 3,453,022 | ||
Gross Profit | 147,629 | 142,906 | ||
Profit | 77,037 | 307,135 | ||
Consolidated net profit attributable to equity holders of the Company | 77,037 | 307,135 | ||
Total comprehensive income/(loss) attributable to shareholders | 77,037 | 307,135 | ||
Reconciled to the interests in the associates | ||||
Gross amounts of net assets attributable to shareholders of the associate | ¥ 4,653,997 | ¥ 4,566,261 | ||
The Group's effective interest | 30.00% | 30.00% | ||
The Group's share of net assets attributable to shareholders of the associate | ¥ 1,396,199 | ¥ 1,369,878 | ||
Impact of adjustments | 14,076 | 14,076 | ||
Carrying amount in the consolidated financial statements | ¥ 1,410,275 | ¥ 1,383,954 |
Investments in associates and_6
Investments in associates and joint ventures (Summarized financial information of material joint ventures) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Gross amounts of joint ventures' | ||||
Current assets | ¥ 66,137,631 | ¥ 60,781,401 | ||
Non-current assets | 383,767,027 | 367,468,662 | ||
Current liabilities | (154,048,091) | (141,620,410) | ||
Non-current liabilities | (144,240,369) | (156,250,607) | ||
Equity | 151,616,198 | 130,379,046 | ¥ 116,121,670 | ¥ 107,614,604 |
Revenue | 169,446,338 | 174,009,401 | 169,550,624 | |
Profit | 2,610,563 | 1,108,205 | 1,329,974 | |
Total comprehensive income/(loss) | 1,639,525 | 1,679,092 | ¥ 911,085 | |
Shanghai Time Shipping [member] | ||||
Gross amounts of joint ventures' | ||||
Current assets | 318,387 | 280,687 | ||
Non-current assets | 3,910,739 | 4,083,160 | ||
Current liabilities | (2,375,821) | (2,367,244) | ||
Non-current liabilities | (54,623) | |||
Equity | 1,853,305 | 1,941,980 | ||
Revenue | 1,143,885 | 1,613,813 | ||
Gross Profit | 169,040 | 135,846 | ||
Profit | 11,325 | 121,284 | ||
Total comprehensive income/(loss) | 11,325 | 121,284 | ||
Dividend received in cash from the joint ventures | 50,000 | |||
Reconciled to the interests in the joint ventures: | ||||
Gross amounts of net assets attributable to shareholders of the associate | ¥ 1,853,305 | ¥ 1,941,980 | ||
The Group's effective interest rates | 50.00% | 50.00% | ||
The Group's share of net assets | ¥ 926,653 | ¥ 970,990 | ||
Impact of adjustments | 18,324 | 18,324 | ||
Carrying amount in the consolidated financial statements | 944,977 | 989,314 | ||
Jiangsu Nantong Power [member] | ||||
Gross amounts of joint ventures' | ||||
Current assets | 742,195 | 396,850 | ||
Non-current assets | 4,740,502 | 5,294,584 | ||
Current liabilities | (2,046,053) | (2,660,119) | ||
Non-current liabilities | (1,318,905) | (901,583) | ||
Equity | 2,117,739 | 2,129,732 | ||
Revenue | 3,118,059 | 2,959,197 | ||
Gross Profit | 541,305 | 490,578 | ||
Profit | 240,436 | 211,589 | ||
Total comprehensive income/(loss) | 240,436 | 211,589 | ||
Dividend received in cash from the joint ventures | 126,215 | 145,143 | ||
Reconciled to the interests in the joint ventures: | ||||
Gross amounts of net assets attributable to shareholders of the associate | ¥ 2,117,739 | ¥ 2,129,732 | ||
The Group's effective interest rates | 50.00% | 50.00% | ||
The Group's share of net assets | ¥ 1,058,870 | ¥ 1,064,866 | ||
Carrying amount in the consolidated financial statements | ¥ 1,058,870 | ¥ 1,064,866 |
Investments in associates and_7
Investments in associates and joint ventures (Disclosure of aggregated information of individually immaterial associates and joint ventures) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Aggregate amounts of the Group's share of those associates and joint ventures | ||
Unrecognised further losses | ¥ 552,000 | ¥ 538,000 |
Proportionate interests in capital commitments | 0 | 0 |
Material contingent liabilities relating to the Group's interests in the associates and joint ventures | 0 | |
Material contingent liabilities in associates and joint ventures | 0 | |
Individually immaterial associates and joint ventures [member] | ||
Summarized financial information of investments in associates and joint ventures [line items] | ||
Aggregate carrying amount of individually immaterial associates and joint ventures in the consolidated financial statements | 4,701,290 | 3,966,148 |
Aggregate amounts of the Group's share of those associates and joint ventures | ||
Profit from continuing operations | 190,029 | 123,869 |
Total comprehensive income | ¥ 190,029 | ¥ 123,954 |
Investments in subsidiaries (Su
Investments in subsidiaries (Subsidiaries acquired through establishment or investment) (Detail) | 12 Months Ended | ||
Dec. 31, 2020CNY (¥)shares | Dec. 31, 2020SGD ($)shares | Dec. 31, 2020USD ($)shares | |
Disclosure of subsidiaries [line items] | |||
Percentage of equity interest held, Interest | 63.64% | ||
Huaneng (Jinxiang) New Energy Co., Ltd.[member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 80,000,000 | ||
Business nature and scope of operations | Construction, operation and maintenance of new energy generation projects and distribution network projects; and production and sale of electricity | ||
Percentage of equity interest held, Interest | 80.00% | ||
Percentage of equity interest held, Voting | 80.00% | ||
Huaneng Taigu New Energy Power Co[member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 41,700,000 | ||
Business nature and scope of operations | Production and sale of electricity | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Zhuanghe) Wind Power Co., Ltd . ("Zhuanghe Wind Power") | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 2,700,000,000 | ||
Business nature and scope of operations | Production and sale of electricity and heat | ||
Percentage of equity interest held, Interest | 94.07% | ||
Percentage of equity interest held, Voting | 94.07% | ||
Huaneng (Zhuanghe) Clean Energy Co., Ltd .("Zhuanghe Clean Energy") | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,500,000,000 | ||
Business nature and scope of operations | Investment, construction and management of wind power projects | ||
Percentage of equity interest held, Interest | 97.96% | ||
Percentage of equity interest held, Voting | 97.96% | ||
Huaneng Zaoyang New Energy Co., Ltd . ("Zaoyang New Energy") | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 232,920,000 | ||
Business nature and scope of operations | Production and sale of electricity, and development and utilisation of clean energy | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Zhenning New Energy Power Generation Co., Ltd | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,470,000 | ||
Business nature and scope of operations | Technological research and development and management of new energy projects, and sale of electricity | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Wangmo New Energy Power Generation Co., Ltd | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 44,000,000 | ||
Business nature and scope of operations | Technological research and development and management of new energy projects, and sale of electricity | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng International Power Fuel Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 200,000,000 | ||
Business nature and scope of operations | Wholesale of coal | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Nantong Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 798,000,000 | ||
Business nature and scope of operations | Power generation | ||
Percentage of equity interest held, Interest | 70.00% | ||
Percentage of equity interest held, Voting | 70.00% | ||
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. ("Xianrendao Co-generation ") (e) | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 875,675,300 | ||
Business nature and scope of operations | Production and sale of electricity and heat sale of coal ash and lime | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Hunan Xiangqi Hydropower Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 328,000,000 | ||
Business nature and scope of operations | Construction, operation and management of hydropower plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Zuoquan Coal-fired Power Generation Limited Liability Company ("Zuoquan Coal-fired Power ") (f) | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 960,996,200 | ||
Business nature and scope of operations | Construction, operation and management of electricity projects; development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 80.00% | ||
Percentage of equity interest held, Voting | 80.00% | ||
Huaneng Kangbao Wind Power Utilization Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 543,200,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power plants and related projects; solar power generation | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Jiuquan Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 2,761,480,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power generation and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Rudong Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 90,380,000 | ||
Business nature and scope of operations | Operation, management of wind power generation projects | ||
Percentage of equity interest held, Interest | 90.00% | ||
Percentage of equity interest held, Voting | 90.00% | ||
Huaneng Guangdong Haimen Port Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 331,400,000 | ||
Business nature and scope of operations | Loading, warehousing and conveying services, providing facility services and water transportation services | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Taicang Port Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 600,000,000 | ||
Business nature and scope of operations | Port provision, cargo loading and storage | ||
Percentage of equity interest held, Interest | 85.00% | ||
Percentage of equity interest held, Voting | 85.00% | ||
Huaneng Taicang Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 883,899,310 | ||
Business nature and scope of operations | Power generation | ||
Percentage of equity interest held, Interest | 75.00% | ||
Percentage of equity interest held, Voting | 75.00% | ||
Huaneng Huaiyin II Power Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Registered capital | ¥ 930,870,000 | ||
Xindian Power [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 991,915,789 | ||
Business nature and scope of operations | Power generation | ||
Percentage of equity interest held, Interest | 95.00% | ||
Percentage of equity interest held, Voting | 95.00% | ||
Huaneng Shanghai Combined Cycle Power Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 699,700,000 | ||
Business nature and scope of operations | Power generation | ||
Percentage of equity interest held, Interest | 70.00% | ||
Percentage of equity interest held, Voting | 70.00% | ||
Huaneng Yumen Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 785,960,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power generation and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Qingdao Co-generation Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 498,729,045 | ||
Business nature and scope of operations | Construction, operation and management of co-generation power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Tongxiang Combined Cycle Co-generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 300,000,000 | ||
Business nature and scope of operations | Production and sale of electricity and heat; investment in combined cycle co-generation industries | ||
Percentage of equity interest held, Interest | 95.00% | ||
Percentage of equity interest held, Voting | 95.00% | ||
Huaneng Shantou Haimen Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,508,000,000 | ||
Business nature and scope of operations | Construction, operation and management of power plants and related projects | ||
Percentage of equity interest held, Interest | 80.00% | ||
Percentage of equity interest held, Voting | 80.00% | ||
Liangjiang Power [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 726,600,000 | ||
Business nature and scope of operations | Construction, operation and management of natural gas power plants and related projects | ||
Percentage of equity interest held, Interest | 90.00% | ||
Percentage of equity interest held, Voting | 90.00% | ||
Huaneng Yunnan Fuyuan Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 326,290,000 | ||
Business nature and scope of operations | Wind power project investment, management and sales | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guizhou Panzhou State City Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 188,180,000 | ||
Business nature and scope of operations | Construction and management of wind power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Jiangxi Clean Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 1,384,502,000 | ||
Business nature and scope of operations | Power generation and supply development, management and construction of clean energy resource | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Hunan Subaoding Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 266,000,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Suixian Jieshan Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 183,500,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Taiyuan Dongshan Combined Cycle Co-generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 731,710,000 | ||
Business nature and scope of operations | Construction and operation of thermal heating networks, development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 82.00% | ||
Percentage of equity interest held, Voting | 82.00% | ||
Huaneng Xuzhou Tongshan Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 287,951,400 | ||
Business nature and scope of operations | Wind power generation, electricity engineering design services maintenance of power supply and control facilities, solar energy power generation | ||
Percentage of equity interest held, Interest | 70.00% | ||
Percentage of equity interest held, Voting | 70.00% | ||
Huaneng Nanjing Co-generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 320,400,000 | ||
Business nature and scope of operations | Construction and operation of power plants, and thermal heating services | ||
Percentage of equity interest held, Interest | 70.00% | ||
Percentage of equity interest held, Voting | 70.00% | ||
Huaneng Hunan Guidong Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 140,000,000 | ||
Business nature and scope of operations | Investment, construction, operation and management of electricity projects; development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Luodian New Energy Power Generation Co., Ltd[member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 155,190,000 | ||
Business nature and scope of operations | Technological research and development and management of new energy projects, and sale of electricity | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Guizhou Huajin Clean Energy Co., Ltd[member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 200,000,000 | ||
Business nature and scope of operations | Production and sale of electricity and heat, construction, operation and management of clean energy projects | ||
Percentage of equity interest held, Interest | 51.00% | ||
Percentage of equity interest held, Voting | 51.00% | ||
Huaneng Daqing Clean Energy Co., Ltd[member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,000,000,000 | ||
Business nature and scope of operations | Production and sale of electricity, construction, operation and management of clean energy projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Zhaodong Biomass Power Generation Co[member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 120,000,000 | ||
Business nature and scope of operations | Biomass power generation, sale of electricity and heat, and energy-saving technology promotion | ||
Percentage of equity interest held, Interest | 60.00% | ||
Percentage of equity interest held, Voting | 60.00% | ||
Huaneng Nanjing Luhe Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 84,800,000 | ||
Business nature and scope of operations | Investment, construction, operation, management of electricity projects; development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Luoyuan Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,163,100,000 | ||
Business nature and scope of operations | Construction, operation and management of power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Lingang (Tianjin) Gas Co-generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 332,000,000 | ||
Business nature and scope of operations | Power generation and supply | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Lingang (Tianjin) Heat Co-generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 5,000,000 | ||
Business nature and scope of operations | Providing thermal energy and cold energy services, supplying steam and hot water (except portable water), plumbing pipe installation and repair, energy engineering construction | ||
Percentage of equity interest held, Interest | 66.00% | ||
Percentage of equity interest held, Voting | 66.00% | ||
Huaneng Anhui Huaining Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 301,500,000 | ||
Business nature and scope of operations | Investment, construction and operation of electricity projects development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Mianchi Co-generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 570,000,000 | ||
Business nature and scope of operations | Construction, operation and management of coal-fired plants and related projects | ||
Percentage of equity interest held, Interest | 60.00% | ||
Percentage of equity interest held, Voting | 60.00% | ||
Huaneng Yingkou Xianrendao Co-generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 352,020,000 | ||
Business nature and scope of operations | Power generation and supply development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Nanjing Xingang Comprehensive Energy Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 198,664,300 | ||
Business nature and scope of operations | Thermal generation and supply, power distribution and sale | ||
Percentage of equity interest held, Interest | 65.00% | ||
Percentage of equity interest held, Voting | 65.00% | ||
Huaneng Changxing Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 26,000,000 | ||
Business nature and scope of operations | Construction and operation of distributed photovoltaic power generation plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Rudong Baxianjiao Offshore Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,629,338,700 | ||
Business nature and scope of operations | Infrastructure construction of wind power plants | ||
Percentage of equity interest held, Interest | 70.00% | ||
Percentage of equity interest held, Voting | 70.00% | ||
Huaneng Guilin Gas Distributed Energy Co., Ltd. ("Guilin Gas Energy") (b) | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 267,450,000 | ||
Business nature and scope of operations | Construction, operation and management of power plants and thermal energy | ||
Percentage of equity interest held, Interest | 80.00% | ||
Percentage of equity interest held, Voting | 80.00% | ||
Huaneng (Dalian) Co-generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 799,851,769 | ||
Business nature and scope of operations | Construction, operation and management of co-generation power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Zhongxiang Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 240,000,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guanyun Co-generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 224,774,000 | ||
Business nature and scope of operations | Construction, operation and management of co-generation power plants, heating network and expansion engineering | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng International Power Hong Kong Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | Hong Kong | ||
Type of interest held | Held directly | ||
Registered capital | shares | 100,000 | 100,000 | 100,000 |
Business nature and scope of operations | Development, construction management and operation of power supply, coal projects; related investment and financing businesses | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
TPG [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | Singapore | ||
Type of interest held | Held indirectly | ||
Registered capital | $ | $ 1,183,000,001 | ||
Business nature and scope of operations | Power generation and related by-products, derivatives, developing power supply resources operating electricity and power sales | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
TP Utilities Pte. Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | Singapore | ||
Type of interest held | Held indirectly | ||
Registered capital | $ | 255,500,001 | ||
Business nature and scope of operations | Provision of energy, power supply, thermal supply, management of industrial water and waste | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
TP-STM Water Resources Pte.Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | Singapore | ||
Type of interest held | Held indirectly | ||
Registered capital | $ | 4,500,000 | ||
Business nature and scope of operations | Providing desalinated water | ||
Percentage of equity interest held, Interest | 60.00% | ||
Percentage of equity interest held, Voting | 60.00% | ||
TP-STM Water Services Pte. Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | Singapore | ||
Type of interest held | Held indirectly | ||
Registered capital | $ | $ 21,000 | ||
Business nature and scope of operations | Providing desalinated water | ||
Percentage of equity interest held, Interest | 60.00% | ||
Percentage of equity interest held, Voting | 60.00% | ||
Huaneng Shanxi Taihang Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 1,086,440,000 | ||
Business nature and scope of operations | Pre-services related to coal-fired generation | ||
Percentage of equity interest held, Interest | 60.00% | ||
Percentage of equity interest held, Voting | 60.00% | ||
Huaneng Mianchi Clean Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 291,800,000 | ||
Business nature and scope of operations | Wind power generation, new energy development and utilisation | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Zhuolu Clean Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 159,178,100 | ||
Business nature and scope of operations | Construction, operation and management of power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Tongwei Wind Power Generation Limited Liability Company ("Tongwei Wind Power ") (d) | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 264,640,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Yizheng Wind Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 200,000,000 | ||
Business nature and scope of operations | Wind power plants design, construction, management and maintenance | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Yancheng Dafeng New Energy Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,721,000,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power photovoltaic power plant | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Shanyin Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 1,573,000,000 | ||
Business nature and scope of operations | Construction, operation and management of power plants and related projects | ||
Percentage of equity interest held, Interest | 51.00% | ||
Percentage of equity interest held, Voting | 51.00% | ||
Huaneng Jiangsu Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 200,000,000 | ||
Business nature and scope of operations | Purchase and sale of electricity and thermal energy water supply services, construction and operation of electricity distribution networks and heating pipe networks | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Liaoning Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 200,000,000 | ||
Business nature and scope of operations | Sale of electricity, thermal energy and hot water circulation | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guangdong Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 200,000,000 | ||
Business nature and scope of operations | Power and thermal energy supply, energy conservation technology service, transmission and substation projects contracting | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Suizhou Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 96,020,000 | ||
Business nature and scope of operations | Construction, operation and management of power plants, production and sale of electricity and heat | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Changle Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 15,570,000 | ||
Business nature and scope of operations | Construction, operation and management of photovoltaic power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Longyan Wind Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 35,000,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power plants and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Dandong Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 17,720,000 | ||
Business nature and scope of operations | Investment, construction operation and management of electricity projects, development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Dongguan Combined Cycle Co-generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 658,940,000 | ||
Business nature and scope of operations | Investment of electricity projects, thermal power generation and supply, investment in heating pipe networks, development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 80.00% | ||
Percentage of equity interest held, Voting | 80.00% | ||
Huaneng Chongqing Fengjie Wind Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 183,900,000 | ||
Business nature and scope of operations | Electricity production and supply; development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Jingxing Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 23,500,000 | ||
Business nature and scope of operations | Investment, construction and management of photovoltaic power plants | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Shanxi Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Electricity supply and sales investment, construction, operation and repair of regional transmission and distribution networks | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Chongqing Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Operation of natural gas, electric energy and thermal energy product sale | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Chongqing Luohuang Energy Sales Limited Liability Company ("Luohuang Energy Sales") (ii) | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Sale and supply of electricity, sale of thermal products | ||
Percentage of equity interest held, Interest | 90.00% | ||
Percentage of equity interest held, Voting | 90.00% | ||
Huaneng Chongqing Tongliang Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Operation of natural gas, sale of electricity supply, sale of thermal products | ||
Percentage of equity interest held, Interest | 51.00% | ||
Percentage of equity interest held, Voting | 51.00% | ||
Huaneng Hunan Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Electricity and thermal energy product sale | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Jiangxi Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Construction, operation and management of heat and power supply facilities | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Hebei Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Construction, installation, maintenance and repair of heat and power supply facilities | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Henan Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Sale of electricity, heat, gas and other energy products | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Handan Heating Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 100,000,000 | ||
Business nature and scope of operations | Construction, operation and maintenance of heating sources and pipe networks | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Huzhou Development Zone) Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 10,000,000 | ||
Business nature and scope of operations | Photovoltaic power generation; power supply, purchase and sale | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Fujian Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Sale of electricity, heat, gas and other energy products | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Hubei Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Sale of electricity, heat, gas and other energy products | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Sanming) Clean Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 500,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power, photovoltaic power station and related projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Yueyang Xingang Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 16,000,000 | ||
Business nature and scope of operations | Construction, operation and management of electricity projects, development and utilisation of clean energy | ||
Percentage of equity interest held, Interest | 60.00% | ||
Percentage of equity interest held, Voting | 60.00% | ||
Huaneng Shanghai Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Power supply (except construction and operation of electricity networks), technology services in energy conservation and environmental protection | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Anhui Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Sale of electricity, heat, gas and other energy products | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Shanghai) Power Maintenance Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 200,000,000 | ||
Business nature and scope of operations | Contracting installation and repair of electricity facilities | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guanyun Clean Energy Power Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,221,246,000 | ||
Business nature and scope of operations | Sale of electricity | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Jianchang Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 94,870,000 | ||
Business nature and scope of operations | Production and supply of electricity, and development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Chaoyang Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 30,090,000 | ||
Business nature and scope of operations | Production and supply of electricity, and development and utilisation of clean energy resources | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Fujian) Port Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 619,710,000 | ||
Business nature and scope of operations | Port management, investment and development | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Shijiazhuang Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 60,000,000 | ||
Business nature and scope of operations | Production and supply of heat, and purchase and sale of electricity | ||
Percentage of equity interest held, Interest | 66.60% | ||
Percentage of equity interest held, Voting | 66.60% | ||
Huaneng Jiangyin Combined Cycle Co-generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 600,000,000 | ||
Business nature and scope of operations | Production and supply of electricity, and production and supply of heat | ||
Percentage of equity interest held, Interest | 51.00% | ||
Percentage of equity interest held, Voting | 51.00% | ||
Huaneng Anyang Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 619,600,000 | ||
Business nature and scope of operations | Production and supply of electricity, and production and supply of heat | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Shanxi Comprehensive Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 2,086,698,606 | ||
Business nature and scope of operations | Production and supply of electricity, and production and supply of heat | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Dezhou New Energy Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 350,530,000 | ||
Business nature and scope of operations | Photovoltaic power generation wind power generation, and biomass power generation | ||
Percentage of equity interest held, Interest | 80.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Zhaodong Huaneng Dechang Solar Power Generation Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 30,810,000 | ||
Business nature and scope of operations | Solar energy generation and technology promotion, and repair electricity facilities | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Daqing Huaneng Shuangyu Solar Power Generation Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 80,796,000 | ||
Business nature and scope of operations | Solar energy generation | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Mingguang Wind Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 13,000,000 | ||
Business nature and scope of operations | Production and supply of electricity; investment, construction, operation and management of electricity projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guangxi Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Power supply, contracting installation and repair of electricity facilities | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Hunan Lianping Wind Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 173,920,000 | ||
Business nature and scope of operations | Production and supply of electricity | ||
Percentage of equity interest held, Interest | 80.00% | ||
Percentage of equity interest held, Voting | 80.00% | ||
Huaneng Abagaqi Clean Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 316,180,760 | ||
Business nature and scope of operations | Production, supply and sale of electricity and thermal energy | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Jiashan Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 10,000,000 | ||
Business nature and scope of operations | Production and supply of electricity | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Zhejiang Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | New energy technology development and technology consulting | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guangdong Shantou Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 10,000,000 | ||
Business nature and scope of operations | Production and supply of electricity and thermal energy | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Shantou Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 100,000 | ||
Business nature and scope of operations | Production and supply of electricity | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guigang Clean Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 173,810,000 | ||
Business nature and scope of operations | Production and supply of electricity, and investment, construction and operation of electricity projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Changxing Jiapu Photovoltaic Power Generation Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 10,000,000 | ||
Business nature and scope of operations | Production and supply of electricity, and investment, construction and operation of electricity projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Hainan Energy Sales Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Construction and operation of heat and power supply facilities, operation of heat resources, heat networks and power supply facilities | ||
Percentage of equity interest held, Interest | 91.80% | ||
Percentage of equity interest held, Voting | 91.80% | ||
Huaneng Yangpu Co-generation Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 802,222,000 | ||
Business nature and scope of operations | Investment, construction, operation and management of electricity projects and heat pipe networks | ||
Percentage of equity interest held, Interest | 82.62% | ||
Percentage of equity interest held, Voting | 82.62% | ||
Huaneng Zhejiang Pinghu Offshore Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 2,200,000,000 | ||
Business nature and scope of operations | Production and supply of electricity, and investment, construction and operation of electricity projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Liaoning Clean Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 1,726,573,590 | ||
Business nature and scope of operations | Technology development technical advice services for clean energy | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Jiangsu Huaneng Zhongyang New Energy Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 28,000,000 | ||
Business nature and scope of operations | Production and supply of electricity, investment, construction and operation of electricity projects | ||
Percentage of equity interest held, Interest | 75.00% | ||
Percentage of equity interest held, Voting | 75.00% | ||
Huaneng Henan Puyang Clean Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 1,491,567,000 | ||
Business nature and scope of operations | Production and supply of electricity, and investment, construction and operation of electricity projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guizhou Energy Sales Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 210,000,000 | ||
Business nature and scope of operations | Sale of electricity, heat and gas | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guangdong Shantou Offshore Wind Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 62,950,000 | ||
Business nature and scope of operations | Investment and development of wind energy and new energy | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Jiyuan Huaneng Energy Sales Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 20,000,000 | ||
Business nature and scope of operations | Sale of electricity, heat and gas | ||
Percentage of equity interest held, Interest | 51.00% | ||
Percentage of equity interest held, Voting | 51.00% | ||
Huaneng Yushe Poverty Relief Energy Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 14,760,000 | ||
Business nature and scope of operations | Construction, operation and management of photovoltaic power generation and new energy projects | ||
Percentage of equity interest held, Interest | 90.00% | ||
Percentage of equity interest held, Voting | 90.00% | ||
Huaneng Anhui Mengcheng Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 409,070,000 | ||
Business nature and scope of operations | Production and supply of electricity, and investment, construction and operation of electricity projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Anshun Comprehensive Energy Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 10,530,000 | ||
Business nature and scope of operations | Production and supply of electricity, and investment, construction and operation of electricity projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Shengdong Rudong Offshore Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,575,960,000 | ||
Business nature and scope of operations | Production and sale of electric power; investment in wind power generation | ||
Percentage of equity interest held, Interest | 79.00% | ||
Percentage of equity interest held, Voting | 79.00% | ||
Huaneng Zhejiang Cangnan Offshore Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 10,000,000 | ||
Business nature and scope of operations | Production and sale of electric power; and investment in wind power generation | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Zhejiang Ruian Offshore Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 10,000,000 | ||
Business nature and scope of operations | Production and sale of electric power, and investment in wind power generation | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Shanghai) Photovoltaic Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 50,000,000 | ||
Business nature and scope of operations | Technical service of wind power generation | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Sinosing Services PTE. Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | Singapore | ||
Type of interest held | Held indirectly | ||
Registered capital | $ | $ 1 | ||
Business nature and scope of operations | Investment service | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Yangqu Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 47,000,000 | ||
Business nature and scope of operations | Construction, operation and management of wind power projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Ruicheng Comprehensive Energy Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 216,300,000 | ||
Business nature and scope of operations | Construction, operation and management of new energy power projects, and power generation | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Xiayi Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 117,720,000 | ||
Business nature and scope of operations | Production and sale of electric power, clean energy development and utilisation and investment in electricity projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Anhui Shitai) Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 63,600,000 | ||
Business nature and scope of operations | Production and sale of electric power, clean energy development and utilisation and investment in electricity projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Tianjin) Energy Sales Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 200,000,000 | ||
Business nature and scope of operations | Power and thermal energy supply, energy conservation technology service, transmission and substation projects contracting | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Qingneng Tongyu Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 180,000,000 | ||
Business nature and scope of operations | Development and operation of new energy power projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Guanling New Energy Power Generation Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 100,000,000 | ||
Business nature and scope of operations | Production and sale of electricity and heat | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Luobei Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 364,000,000 | ||
Business nature and scope of operations | Development and management of new energy technology, operation and management of wind power, and maintenance of wind power equipment | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Sihong New Energy Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 150,000,000 | ||
Business nature and scope of operations | Development and management of new energy technology | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Taiqian Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 101,136,800 | ||
Business nature and scope of operations | Production and sale of electricity and heat, development, investment and management of new energy technology, and development and utilisation of clean energy | ||
Percentage of equity interest held, Interest | 51.00% | ||
Percentage of equity interest held, Voting | 51.00% | ||
Huaneng Zhenping Clean Energy Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 80,000,000 | ||
Business nature and scope of operations | Production and sale of electricity, and development and utilisation of clean energy | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Heze Dongming) New Energy Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 188,980,000 | ||
Business nature and scope of operations | Photovoltaic power generation, wind power generation and biomass power generation | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Jiangkou Wind Power Co., Ltd. [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 20,000,000 | ||
Business nature and scope of operations | Production and sale of wind power, and development and utilisation of clean energy | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Chongqing Huaqing Energy Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 44,420,000 | ||
Business nature and scope of operations | Providing thermal energy and cold energy services; supplying electricity | ||
Percentage of equity interest held, Interest | 54.00% | ||
Percentage of equity interest held, Voting | 60.00% | ||
Shengdong Rudong Offshore Wind Power Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,418,409,282 | ||
Business nature and scope of operations | Ancillary projects, construction of wind farm and wind farm maintenance | ||
Percentage of equity interest held, Interest | 79.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Zhanhua Photovoltaic Power Generation Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 145,790,000 | ||
Business nature and scope of operations | Photovoltaic power generation | ||
Percentage of equity interest held, Interest | 46.40% | ||
Percentage of equity interest held, Voting | 58.00% | ||
Huaneng Jiyang Biomass Thermal Power Co., Ltd [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 72,190,000 | ||
Business nature and scope of operations | Production and sale of new energy power | ||
Percentage of equity interest held, Interest | 80.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Liaocheng Gaotang) New Energy Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 261,670,000 | ||
Business nature and scope of operations | Development and operation of new energy power projects | ||
Percentage of equity interest held, Interest | 80.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Yantai New Energy Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,663,602,000 | ||
Business nature and scope of operations | Biomass power generation, sale of electricity and heat, and energy-saving technology promotion | ||
Percentage of equity interest held, Interest | 60.00% | ||
Percentage of equity interest held, Voting | 75.00% | ||
Huaneng Shanghai Shidongkou Power Generation Limited Liability Company ii [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 1,179,000,000 | ||
Business nature and scope of operations | Power generation | ||
Percentage of equity interest held, Interest | 50.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Nanjing Combined Cycle Co-generation Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 938,350,000 | ||
Business nature and scope of operations | Construction, operation and management of power plants and energy projects | ||
Percentage of equity interest held, Interest | 57.39% | ||
Percentage of equity interest held, Voting | 93.90% | ||
Huaneng Weishan New Energy Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 167,000,000 | ||
Business nature and scope of operations | Investment, production and sale of new energy power generation projects | ||
Percentage of equity interest held, Interest | 40.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Ruyi (Helan) New Energy Limited Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 19,000,000 | ||
Business nature and scope of operations | Photovoltaic power generation | ||
Percentage of equity interest held, Interest | 40.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Wulian New Energy Limited Company [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 300,000,000 | ||
Business nature and scope of operations | Photovoltaic power generation, wind power generation, and investment and development of new energy power projects | ||
Percentage of equity interest held, Interest | 88.80% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Zhenlai Photovoltaic Power Generation Co., Ltd [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 29,958,660 | ||
Business nature and scope of operations | Investment, construction, production, operation and overhaul of photovoltaic power generation projects | ||
Percentage of equity interest held, Interest | 50.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Ruzhou Clean Energy Limited Liability Company [member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 217,010,000 | ||
Business nature and scope of operations | Production and supply of electricity projects, investment, construction and operation of electricity projects | ||
Percentage of equity interest held, Interest | 95.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Sheyang New Energy Power Generation Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 1,136,500,000 | ||
Business nature and scope of operations | Production and sale of electricity and heat | ||
Percentage of equity interest held, Interest | 34.00% | ||
Percentage of equity interest held, Voting | 70.00% | ||
Huaneng Zuoquan Yangjiao Wind Power Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 500,000 | ||
Business nature and scope of operations | Production and sale of electricity | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Siping Wind Power Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 407,810,000 | ||
Business nature and scope of operations | Development and operation of new energy power projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Tongyu Tuanjie Wind Power Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 212,680,000 | ||
Business nature and scope of operations | Development and operation of new energy power projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Henan Clean Energy Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 200,000,000 | ||
Business nature and scope of operations | Production and sale of electricity, and construction, operation and management of clean energy projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Yingcheng New Energy Co., Ltd. [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 95,418,000 | ||
Business nature and scope of operations | Production and sale of electricity, and construction, operation and management of clean energy projects | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Fujian) Energy Development Co., Ltd [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 100,000,000 | ||
Business nature and scope of operations | Production and sale of electricity, and prevention of water pollution | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Power International Jiangsu Energy Development Co., Ltd [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 100,000,000 | ||
Business nature and scope of operations | Electricity, heat, and new energy development. | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Guangdong) Energy Development Co., Ltd [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 100,000,000 | ||
Business nature and scope of operations | Production and sale of heat, sewage treatment and recycling, and new energy technology development | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng (Zhejiang) Energy Development Co., Ltd [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held directly | ||
Registered capital | ¥ 100,000,000 | ||
Business nature and scope of operations | Production and sale of electricity and heat, sale of coal, lime, gypsum and related products, and research and development of energy-efficient technologies | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% | ||
Huaneng Nantong Combined Cycle Power Limited Company [Member] | |||
Disclosure of subsidiaries [line items] | |||
Country of incorporation | PRC | ||
Type of interest held | Held indirectly | ||
Registered capital | ¥ 960,000,000 | ||
Business nature and scope of operations | Production and sale of electricity and heat; and investment in combined cycle co-generation industries | ||
Percentage of equity interest held, Interest | 100.00% | ||
Percentage of equity interest held, Voting | 100.00% |
Investments in subsidiaries (_2
Investments in subsidiaries (Subsidiaries acquired from business combinations under common control) (Detail) | 12 Months Ended |
Dec. 31, 2020CNY (¥)shares | |
Disclosure of subsidiaries [line items] | |
Percentage of equity interest held, Interest | 63.64% |
Huaneng (Suzhou Industrial Park) Power Generation Co., Ltd. ("Suzhou Industrial Park Power") (vii) | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 632,840,000 |
Business nature and scope of operations | Power generation |
Percentage of equity interest held, Interest | 75.00% |
Percentage of equity interest held, Voting | 75.00% |
Huaneng Qinbei Power Generation Co., Ltd. ("Qinbei Power") (v) | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 3,139,965,055 |
Business nature and scope of operations | Power generation |
Percentage of equity interest held, Interest | 60.00% |
Percentage of equity interest held, Voting | 60.00% |
Huaneng Yushe Power Generation Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 615,760,000 |
Business nature and scope of operations | Power generation, power distribution and sale of power |
Percentage of equity interest held, Interest | 60.00% |
Percentage of equity interest held, Voting | 60.00% |
Yueyang Power | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 2,025,934,545 |
Business nature and scope of operations | Power generation |
Percentage of equity interest held, Interest | 55.00% |
Percentage of equity interest held, Voting | 55.00% |
Luohuang Power | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 1,748,310,000 |
Business nature and scope of operations | Power generation, production and sale of heat |
Percentage of equity interest held, Interest | 60.00% |
Percentage of equity interest held, Voting | 60.00% |
Huaneng Pingliang Power Generation Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 924,050,000 |
Business nature and scope of operations | Power generation |
Percentage of equity interest held, Interest | 65.00% |
Percentage of equity interest held, Voting | 65.00% |
Jinling Power | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 1,590,220,000 |
Business nature and scope of operations | Power generation |
Percentage of equity interest held, Interest | 60.00% |
Percentage of equity interest held, Voting | 60.00% |
Huaneng Qidong Wind Power Generation Co., Ltd. ("Qidong Wind Power") (iv) | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 391,738,500 |
Business nature and scope of operations | Development of wind power projects, and production and sale of electricity |
Percentage of equity interest held, Interest | 65.00% |
Percentage of equity interest held, Voting | 65.00% |
Yangliuqing Co-generation | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 1,537,130,909 |
Business nature and scope of operations | Power generation, heat supply, facilities installation, maintenance and related services |
Percentage of equity interest held, Interest | 55.00% |
Percentage of equity interest held, Voting | 55.00% |
Wuhan Power | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 1,478,461,500,000 |
Business nature and scope of operations | Investment, construction, operation and management of electricity projects, and development and utilisation of clean energy resources |
Percentage of equity interest held, Interest | 75.00% |
Percentage of equity interest held, Voting | 75.00% |
Huaneng Anyuan Power Generation Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 1,184,587,300,000 |
Business nature and scope of operations | Construction and operation of power plants and related construction projects, and production of electricity |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Hualiangting Hydropower Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 50,000,000,000 |
Business nature and scope of operations | Generation and transfer of power supply, and water supply (irrigation) |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Jingmen Thermal Power Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 780,000,000,000 |
Business nature and scope of operations | Thermal power, power development and other service |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Enshi Qingjiang Dalongtan Hydropower Development Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 177,080,000,000 |
Business nature and scope of operations | Hydropower development, production and management of electric power, and urban water supply |
Percentage of equity interest held, Interest | 98.01% |
Percentage of equity interest held, Voting | 98.01% |
Huaneng Hainan Power Inc. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 1,326,419,587,000 |
Business nature and scope of operations | Investment, construction, operation of various power plants, and regular energy and new energy development |
Percentage of equity interest held, Interest | 91.80% |
Percentage of equity interest held, Voting | 91.80% |
Huaneng Yingcheng Thermal Power Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 665,982,700,000 |
Business nature and scope of operations | Construction and operation of power plants and production, sale of power and heat |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Heilongjiang Power Generation Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 1,342,550,000,000 |
Business nature and scope of operations | Development, investment construction, production and management of power (thermal) projects |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Hegang Power Generation Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 1,092,550,000,000 |
Business nature and scope of operations | Electricity power construction, energy conservation, development projects, and heat production and supply |
Percentage of equity interest held, Interest | 64.00% |
Percentage of equity interest held, Voting | 64.00% |
Huaneng Xinhua Power Generation Limited Liability Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 284,880,000,000 |
Business nature and scope of operations | Power generation, power equipment repair, and coal sale |
Percentage of equity interest held, Interest | 70.00% |
Percentage of equity interest held, Voting | 70.00% |
Huaneng Tongjiang Wind Power Generation Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 330,000,000,000 |
Business nature and scope of operations | Wind power generation, wind power plants operation planning and design |
Percentage of equity interest held, Interest | 82.85% |
Percentage of equity interest held, Voting | 82.85% |
Huaneng Daqing Thermal Power Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 630,000,000,000 |
Business nature and scope of operations | Power generation, and thermal production and supply |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Daqing Lvyuan Wind Power Generation Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 497,000,000 |
Business nature and scope of operations | Wind power generation |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Yichun Thermal Power | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 581,000,000 |
Business nature and scope of operations | Power construction, production and sale, and thermal production and sale |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Heilongjiang Energy Sales Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 210,000,000,000 |
Business nature and scope of operations | Power supply, and the production of heat and hot water |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Zhaodong Huaneng Thermal Power Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 10,000,000,000 |
Business nature and scope of operations | Heat production and supply |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Jilin Power Generation Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 4,719,757,200,000 |
Business nature and scope of operations | Power (thermal) projects, development of new energy projects and investment, construction, production, operation and sale |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Linjiang Jubao Hydropower Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 46,820,000,000 |
Business nature and scope of operations | Hydropower development and operation, and construction and operation of photovoltaic power generation |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Jilin Energy Sales Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 210,000,000,000 |
Business nature and scope of operations | Thermal (cold) production and supply, and power supply |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Shandong Power | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 4,241,460,000,000 |
Business nature and scope of operations | Power (thermal) project development, investment, construction and management |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 80.00% |
Huaneng Jining New Energy Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 38,000,000,000 |
Business nature and scope of operations | Investment, construction and management of photovoltaic and wind power projects |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Rizhao Thermal Power Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 52,000,000,000 |
Business nature and scope of operations | Urban heat construction, maintenance and operation design and construction of heat engineering |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Laiwu New Energy Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 68,000,000 |
Business nature and scope of operations | Photovoltaic power and wind power generation |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Shandong Sishui New Energy Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 143,090,000,000 |
Business nature and scope of operations | Solar energy grid connected generation |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Shandong Electric and Thermal Power Marketing Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 200,000,000 |
Business nature and scope of operations | Sales and service of power and heating products, investment in power industry |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Shandong Information Technology Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 80,000,000 |
Business nature and scope of operations | Information technology and management consulting services |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Zhanhua New Energy [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 235,298,200 |
Business nature and scope of operations | Wind power, photovoltaic power generation |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Weihai Port Photovoltaic Power Generation Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 32,380,000 |
Business nature and scope of operations | Photovoltaic power generation projects development and construction, electricity sales |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Jinan Huangtai Power Limited Company | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 1,391,878,400 |
Business nature and scope of operations | Electricity power production, heat management |
Percentage of equity interest held, Interest | 72.00% |
Percentage of equity interest held, Voting | 90.00% |
Huaneng Dezhou Thermal Power Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 40,000,000 |
Business nature and scope of operations | Urban heat construction, maintenance and operation, design and construction of heat engineering |
Percentage of equity interest held, Interest | 68.00% |
Percentage of equity interest held, Voting | 85.00% |
Huaneng Dongying New Energy Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 92,601,483 |
Business nature and scope of operations | Wind power projects development, wind power generation and sales of electricity |
Percentage of equity interest held, Interest | 56.00% |
Percentage of equity interest held, Voting | 70.00% |
Shandong Maintenance Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 50,000,000,000 |
Business nature and scope of operations | Power engineering design, construction |
Percentage of equity interest held, Interest | 76.55% |
Percentage of equity interest held, Voting | 100.00% |
Shandong Fuel Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 100,000,000,000 |
Business nature and scope of operations | Wholesale operation of coal |
Percentage of equity interest held, Interest | 76.55% |
Percentage of equity interest held, Voting | 100.00% |
Rizhao Power [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 1,245,587,900,000 |
Business nature and scope of operations | Heat; engaged in power business |
Percentage of equity interest held, Interest | 88.80% |
Percentage of equity interest held, Voting | 100.00% |
Beijing Co-generation | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 3,702,090,000,000 |
Business nature and scope of operations | Construction and operation of power plants and related construction projects |
Percentage of equity interest held, Interest | 41.00% |
Percentage of equity interest held, Voting | 66.00% |
Chaohu Power [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 840,000,000,000 |
Business nature and scope of operations | Construction, operation, management of electricity projects, and development and utilisation of clean energy resources |
Percentage of equity interest held, Interest | 60.00% |
Percentage of equity interest held, Voting | 70.00% |
Huaneng Suzhou Thermal Power Co., Ltd | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 600,000,000,000 |
Business nature and scope of operations | Construction, operation and management of electricity projects, and development and utilisation of clean energy |
Percentage of equity interest held, Interest | 53.45% |
Percentage of equity interest held, Voting | 100.00% |
Ruijin Power Generation [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 1,719,846,598,000 |
Business nature and scope of operations | Construction, operation, management of electricity projects, and development and utilisation of clean energy |
Percentage of equity interest held, Interest | 50.00% |
Percentage of equity interest held, Voting | 100.00% |
Laiwu Power (vi) | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 2,340,000,000 |
Business nature and scope of operations | Power production |
Percentage of equity interest held, Interest | 74.32% |
Percentage of equity interest held, Voting | 100.00% |
Ruyi Coal Power [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 1,294,680,000 |
Business nature and scope of operations | Development, investment, construction, operation and management of electricity power and coal |
Percentage of equity interest held, Interest | 40.00% |
Percentage of equity interest held, Voting | 100.00% |
Jiaxiang Power | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 646,680,000,000 |
Business nature and scope of operations | Power generation, electrical equipment maintenance |
Percentage of equity interest held, Interest | 40.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Qufu Co-generation Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 300,932,990,000 |
Business nature and scope of operations | Sale and production of electric power, and thermal power |
Percentage of equity interest held, Interest | 40.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Jining Hi-Tech Zone Co-generation Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 118,699,761,000 |
Business nature and scope of operations | Heat supply and power generation |
Percentage of equity interest held, Interest | 40.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Shandong (Hong Kong) Investment Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | Hong Kong |
Type of interest held | Held indirectly |
Registered capital | shares | 10,000 |
Business nature and scope of operations | Investment |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Shandong Silk Road International Power Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 35,000,000 |
Business nature and scope of operations | Contracting overseas projects and domestic international bidding projects, and construction and operation of power projects |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Rongcheng New Energy Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 36,540,000 |
Business nature and scope of operations | Wind power generation |
Percentage of equity interest held, Interest | 48.00% |
Percentage of equity interest held, Voting | 100.00% |
Yunhe Power (viii) | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 696,355,300 |
Business nature and scope of operations | Electrical (thermal) production and on-grid sale, technology consulting and services |
Percentage of equity interest held, Interest | 78.68% |
Percentage of equity interest held, Voting | 98.35% |
Linyi Power | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 1,093,313,400 |
Business nature and scope of operations | Power generation |
Percentage of equity interest held, Interest | 60.00% |
Percentage of equity interest held, Voting | 75.00% |
Liaocheng Changrun National Electric Heating Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 130,000,000 |
Business nature and scope of operations | Heat supply |
Percentage of equity interest held, Interest | 60.00% |
Percentage of equity interest held, Voting | 75.00% |
Linyi Lantian Thermal Power Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 36,000,000 |
Business nature and scope of operations | Heat supply, maintenance of thermal power network, power sale, and installation and maintenance of distribution facilities |
Percentage of equity interest held, Interest | 54.40% |
Percentage of equity interest held, Voting | 68.00% |
Yantai 500 Heating Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 20,500,000 |
Business nature and scope of operations | Central heat services, plumbing and pipe installation services |
Percentage of equity interest held, Interest | 64.00% |
Percentage of equity interest held, Voting | 80.00% |
Huaneng Shandong Taifeng Renewable Energy Co., Ltd | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 200,000,000 |
Business nature and scope of operations | Investment, development, construction and management of photovoltaic power generation projects |
Percentage of equity interest held, Interest | 65.78% |
Percentage of equity interest held, Voting | 82.23% |
Liaocheng Co-generation | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 1,038,407,950 |
Business nature and scope of operations | Power, and heat production and sale |
Percentage of equity interest held, Interest | 60.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Henan Zhongyuan Gas Power Generation Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 400,000,000,000 |
Business nature and scope of operations | Investment, construction, operation and management of power projects, thermal supply, and development and utilisation of clean energy resources |
Percentage of equity interest held, Interest | 90.00% |
Percentage of equity interest held, Voting | 90.00% |
Huaneng Zibo Boshan Photovoltaic Power Limited Company | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 22,000,000,000 |
Business nature and scope of operations | Solar power generation, and sale |
Percentage of equity interest held, Interest | 80.00% |
Percentage of equity interest held, Voting | 100.00% |
Tianjin Longye New Energy Co., Ltd. ("Tianjin Longye") | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 9,300,000,000 |
Business nature and scope of operations | Design, construction and maintenance of solar power projects, and sale of photovoltaic modules |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng (Fujian) Energy Development Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 100,000,000 |
Business nature and scope of operations | Production and sale of electricity, and prevention of water pollution |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Power International Jiangsu Energy Development Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 100,000,000 |
Business nature and scope of operations | Electricity, heat, and new energy development. |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng (Guangdong) Energy Development Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 100,000,000 |
Business nature and scope of operations | Production and sale of heat, sewage treatment and recycling, and new energy technology development |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng (Zhejiang) Energy Development Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 100,000,000 |
Business nature and scope of operations | Production and sale of electricity and heat, sale of coal, lime, gypsum and related products, and research and development of energy-efficient technologies |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Huaneng Nantong Combined Cycle Power Limited Company [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 960,000,000 |
Business nature and scope of operations | Production and sale of electricity and heat; and investment in combined cycle co-generation industries |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Investments in subsidiaries (_3
Investments in subsidiaries (Subsidiaries acquired from business combinations not under common control) (Detail) | Feb. 15, 2017 | Dec. 31, 2020CNY (¥) | Dec. 31, 2020SGD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020PKR (₨) |
Disclosure of subsidiaries [line items] | |||||
Percentage of equity interest held, Interest | 63.64% | ||||
Weihai Power | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held directly | ||||
Registered capital | ¥ 1,822,176,621 | ||||
Business nature and scope of operations | Power generation | ||||
Percentage of equity interest held, Interest | 60.00% | ||||
Percentage of equity interest held, Voting | 60.00% | ||||
Huaneng Huaiyin Power Generation Limited Company [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held indirectly | ||||
Registered capital | ¥ 305,111,720 | ||||
Business nature and scope of operations | Power generation | ||||
Percentage of equity interest held, Interest | 100.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Huade County Daditaihong Wind Power Utilization Limited Liability Company [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held directly | ||||
Registered capital | ¥ 196,400,000 | ||||
Business nature and scope of operations | Wind power development and utilisation | ||||
Percentage of equity interest held, Interest | 100.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Huaneng Zhanhua Co-generation Limited Company [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held directly | ||||
Registered capital | ¥ 190,000,000 | ||||
Business nature and scope of operations | Production and sale of electricity and thermal energy | ||||
Percentage of equity interest held, Interest | 100.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Shandong Hualu Sea Transportation Limited Company [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held directly | ||||
Registered capital | ¥ 100,000,000 | ||||
Business nature and scope of operations | Cargo transportation along domestic coastal areas, and goods storage | ||||
Percentage of equity interest held, Interest | 53.00% | ||||
Percentage of equity interest held, Voting | 53.00% | ||||
Huaneng Qingdao Port Limited Company [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held directly | ||||
Registered capital | ¥ 219,845,009 | ||||
Business nature and scope of operations | Loading and conveying warehousing, conveying, water carriage materials supply | ||||
Percentage of equity interest held, Interest | 51.00% | ||||
Percentage of equity interest held, Voting | 51.00% | ||||
Huaneng Yunnan Diandong Energy Limited Liability Company [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held directly | ||||
Registered capital | ¥ 9,648,142,100 | ||||
Business nature and scope of operations | Electricity project investment, power generation and sale, and coal exploitation and investment | ||||
Percentage of equity interest held, Interest | 100.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Yunnan Diandong Yuwang Energy Limited Company [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held directly | ||||
Registered capital | ¥ 6,796,510,000 | ||||
Business nature and scope of operations | Electricity project investment, power generation and sale, and coal exploitation and investment | ||||
Percentage of equity interest held, Interest | 100.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Huaneng Luoyang Co-generation Limited Liability Company [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held directly | ||||
Registered capital | ¥ 600,000,000 | ||||
Business nature and scope of operations | Production and sale of electricity and heating | ||||
Percentage of equity interest held, Interest | 80.00% | ||||
Percentage of equity interest held, Voting | 80.00% | ||||
Huaneng Zhumadian Wind Power Generation Co., Ltd. [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held directly | ||||
Registered capital | ¥ 259,028,000 | ||||
Business nature and scope of operations | Wind power generation, and new energy development and utilisation | ||||
Percentage of equity interest held, Interest | 90.00% | ||||
Percentage of equity interest held, Voting | 90.00% | ||||
SinoSing Power | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | Singapore | ||||
Type of interest held | Held directly | ||||
Registered capital | $ | $ 1,476,420,585 | ||||
Business nature and scope of operations | Investment holding | ||||
Percentage of equity interest held, Interest | 100.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Tuas Power | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | Singapore | ||||
Type of interest held | Held indirectly | ||||
Registered capital | $ | $ 1,433,550,000 | ||||
Business nature and scope of operations | Investment holding | ||||
Percentage of equity interest held, Interest | 100.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Tuas Power Supply Pte. Ltd. [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | Singapore | ||||
Type of interest held | Held indirectly | ||||
Registered capital | $ | $ 500,000 | ||||
Business nature and scope of operations | Power sale | ||||
Percentage of equity interest held, Interest | 100.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
TP Asset Management Pte. Ltd. [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | Singapore | ||||
Type of interest held | Held indirectly | ||||
Business nature and scope of operations | Rendering of environment engineering services | ||||
Percentage of equity interest held, Interest | 100.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
TPGS Green Energy Pte. Ltd. [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | Singapore | ||||
Type of interest held | Held indirectly | ||||
Business nature and scope of operations | Provision of utility services | ||||
Percentage of equity interest held, Interest | 75.00% | ||||
Percentage of equity interest held, Voting | 75.00% | ||||
Ruzhou Xuji Wind Power Generation Liability Company [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held indirectly | ||||
Registered capital | ¥ 4,000,000,000 | ||||
Business nature and scope of operations | Wind power and photovoltaic power generation | ||||
Percentage of equity interest held, Interest | 95.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Hong Kong Energy [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | Hong Kong | ||||
Type of interest held | Held indirectly | ||||
Registered capital | $ | 360,000,000 | ||||
Business nature and scope of operations | Investment | ||||
Percentage of equity interest held, Interest | 40.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Shandong Huatai Electric Power Operation & Maintenance (Private) Co., Ltd. [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | Pakistan | ||||
Type of interest held | Held indirectly | ||||
Registered capital | ₨ | ₨ 1,000,000 | ||||
Business nature and scope of operations | Power generation operation and maintenance | ||||
Percentage of equity interest held, Interest | 40.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Ruyi Pakistan Energy [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | Pakistan | ||||
Type of interest held | Held indirectly | ||||
Registered capital | $ | $ 360,000,000 | ||||
Business nature and scope of operations | Electric power production and sale | ||||
Percentage of equity interest held, Interest | 40.00% | ||||
Percentage of equity interest held, Voting | 100.00% | ||||
Shanxi Xiaoyi Energy [member] | |||||
Disclosure of subsidiaries [line items] | |||||
Country of incorporation | PRC | ||||
Type of interest held | Held indirectly | ||||
Registered capital | ¥ 100,000,000 | ||||
Business nature and scope of operations | Electricity sale, and sale of raw coal and processed coal | ||||
Percentage of equity interest held, Interest | 49.00% | 51.00% | |||
Percentage of equity interest held, Voting | 100.00% |
Investments in subsidiaries (_4
Investments in subsidiaries (Subsidiaries acquired from asset acquisitions) (Detail) | 12 Months Ended |
Dec. 31, 2020CNY (¥) | |
Disclosure of subsidiaries [line items] | |
Percentage of equity interest held, Interest | 63.64% |
Shangrao Hongyuan Power Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 397,800,000 |
Business nature and scope of operations | Construction, operation and management of photovoltaic power projects |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Poyang Luohong Power Co., Ltd. [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 780,000,000 |
Business nature and scope of operations | Investment, construction, operation and management of photovoltaic power projects |
Percentage of equity interest held, Interest | 51.00% |
Percentage of equity interest held, Voting | 51.00% |
Shuozhou Taizhong Wind Power Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 362,703,300 |
Business nature and scope of operations | Investment, construction, operation and management of wind power projects |
Percentage of equity interest held, Interest | 51.00% |
Percentage of equity interest held, Voting | 51.00% |
Wuzhai Taizhong New Energy Wind Power Limited Company [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 518,147,600 |
Business nature and scope of operations | Investment, construction, operation and management of wind power projects |
Percentage of equity interest held, Interest | 51.00% |
Percentage of equity interest held, Voting | 51.00% |
Xvheng New Energy [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 549,530,000 |
Business nature and scope of operations | Construction, operation and management of photovoltaic power projects |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Yingheng Clean Energy [member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 1,100,000,000 |
Business nature and scope of operations | Construction, operation and management of photovoltaic power projects |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Ruicheng Yaosheng Power Development Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 405,880,000 |
Business nature and scope of operations | Development, construction, management and operation of solar power projects |
Percentage of equity interest held, Interest | 51.00% |
Percentage of equity interest held, Voting | 51.00% |
Ruicheng Ningsheng New Energy Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 207,699,000 |
Business nature and scope of operations | Development, construction, management and operation of solar power projects |
Percentage of equity interest held, Interest | 51.00% |
Percentage of equity interest held, Voting | 51.00% |
Fanshi Nengyu Wind Power Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 512,123,000 |
Business nature and scope of operations | Development, construction, management and operation of wind power projects, and wind power generation |
Percentage of equity interest held, Interest | 51.00% |
Percentage of equity interest held, Voting | 51.00% |
Zuoquan Nengyu New Energy Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 494,047,000 |
Business nature and scope of operations | Wind power generation, new energy technology promotion service |
Percentage of equity interest held, Interest | 51.00% |
Percentage of equity interest held, Voting | 51.00% |
Dalian Chuanbo Haizhuang New Energy Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 957,700,000 |
Business nature and scope of operations | Development, construction, management and operation of wind power projects, wind power generation |
Percentage of equity interest held, Interest | 97.96% |
Percentage of equity interest held, Voting | 97.96% |
Henan Juhe New Energy Technology Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held directly |
Registered capital | ¥ 111,900,000 |
Business nature and scope of operations | Technology promotion and application service industry |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Xincai Juhe Wind Power Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 111,600,000 |
Business nature and scope of operations | Development, construction, management and operation of wind power projects, and wind power generation |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Nanchang Tongshang New Energy Co., Ltd [Member] | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 110,000,000 |
Business nature and scope of operations | New energy and energy-saving technology promotion, construction of solar and wind power projects, electronic product and mechanical equipment installation |
Percentage of equity interest held, Interest | 100.00% |
Percentage of equity interest held, Voting | 100.00% |
Dalian Jingangwan Energy Development Co., Ltd | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 10,000,000 |
Business nature and scope of operations | Development, construction, management and operation of wind power projects, and wind power generation and sale |
Percentage of equity interest held, Interest | 94.07% |
Percentage of equity interest held, Voting | 94.07% |
Dalian Beihuanghai Lingang Energy Development Co., Ltd | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 10,000,000 |
Business nature and scope of operations | Development, construction, management and operation of wind power projects, and wind power generation and sale |
Percentage of equity interest held, Interest | 94.07% |
Percentage of equity interest held, Voting | 94.07% |
Dalian Rongqiang New Energy Co., Ltd | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 10,000,000 |
Business nature and scope of operations | Development, construction, management and operation of wind power projects, and wind power generation and sale |
Percentage of equity interest held, Interest | 94.07% |
Percentage of equity interest held, Voting | 94.07% |
Dalian Qianyang New Energy Co., Ltd | |
Disclosure of subsidiaries [line items] | |
Country of incorporation | PRC |
Type of interest held | Held indirectly |
Registered capital | ¥ 10,000,000 |
Business nature and scope of operations | Development, construction, management and operation of wind power projects, and wind power generation and sale |
Percentage of equity interest held, Interest | 94.07% |
Percentage of equity interest held, Voting | 94.07% |
Investments in subsidiaries (De
Investments in subsidiaries (Detail information of equity interests held) (Detail) | Feb. 15, 2017 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 63.64% | |||
Percentage of voting rights acquired through supplemental agreements | 25.00% | |||
Shandong Power | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 80.00% | |||
Percentage of interests directly held by the Group | 80.00% | |||
Nanjing Combined Cycle Co-generation [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests directly held by the Group | 27.39% | |||
Percentage of interests indirectly held by the Group | 9.13% | |||
Ruyi Coal Power [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 40.00% | |||
Ruyi Coal Power [member] | Shandong Power | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 50.00% | |||
Shandong Fuel Company [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 76.55% | |||
Percentage of voting rights acquired through supplemental agreements | 100.00% | |||
Shandong Fuel Company [member] | Shandong Power | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests directly held by the Group | 72.00% | |||
Percentage of interests indirectly held by the Group | 23.68% | |||
Shandong Maintenance Company [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 76.55% | |||
Percentage of voting rights acquired through supplemental agreements | 28.00% | |||
Rizhao Power [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 88.80% | |||
Percentage of interests directly held by the Group | 56.00% | |||
Rizhao Power [member] | Shandong Power | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests directly held by the Group | 44.00% | |||
Beijing Co-generation | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 41.00% | |||
Chaohu Power [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 60.00% | |||
Percentage of interests directly held by the Group | 10.00% | |||
Shanxi Xiaoyi Energy [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 49.00% | 51.00% | ||
Ruijin Power Generation [member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 50.00% | |||
Proportion of equity interest before capital injection from a third party shareholder | 50.00% | 100.00% | ||
Huaneng Power International Jiangsu Energy Development Co., Ltd [Member] | ||||
Disclosure of subsidiaries [line items] | ||||
Percentage of interests held by the Group | 100.00% | |||
Percentage of voting rights acquired through supplemental agreements | 70.00% |
Other equity instrument inves_3
Other equity instrument investments (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Other equity instrument investments [line items] | ||
Equity securities designated at FVOCI (non-recycling) | ¥ 664,946 | ¥ 779,218 |
Listed security [member] | ||
Other equity instrument investments [line items] | ||
Equity securities designated at FVOCI (non-recycling) | 6,662 | 8,390 |
Unlisted securities [member] | ||
Other equity instrument investments [line items] | ||
Equity securities designated at FVOCI (non-recycling) | 658,284 | 770,828 |
7.89% of Ganlong Double-track Railway Co., Ltd. [member] | ||
Other equity instrument investments [line items] | ||
Equity securities designated at FVOCI (non-recycling) | 504,309 | 678,565 |
Others [member] | ||
Other equity instrument investments [line items] | ||
Equity securities designated at FVOCI (non-recycling) | ¥ 153,975 | ¥ 92,263 |
Power generation licenses (Deta
Power generation licenses (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Power generation licenses | ||
Beginning of the year | ¥ 4,149,468 | ¥ 4,014,972 |
Movement: | ||
Currency translation differences | (194,485) | 134,496 |
End of the year | ¥ 3,954,983 | ¥ 4,149,468 |
Power generation licenses (Narr
Power generation licenses (Narrative) (Detail) - CNY (¥) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Impairment Test of Power Generation License [Line Items] | ||
Growth rates of cash flows beyond the terminal year | 0.00% | |
Tuas Power | ||
Impairment Test of Power Generation License [Line Items] | ||
Growth rates of cash flows beyond the terminal year | 2.00% | 2.00% |
Power generation license [member] | ||
Impairment Test of Power Generation License [Line Items] | ||
Impairment provided for the power generation license | ¥ 0 | ¥ 0 |
Mining rights (Detail)
Mining rights (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about mining rights [line items] | ||
Beginning of the year | ¥ 1,577,505 | ¥ 1,511,186 |
Movement: | ||
Addition | 33,981 | 66,319 |
Impairment charge for the year | 0 | 0 |
End of the year | 1,611,486 | 1,577,505 |
Original cost | ||
Disclosure of detailed information about mining rights [line items] | ||
Beginning of the year | 2,472,886 | 2,406,567 |
Movement: | ||
End of the year | 2,506,867 | 2,472,886 |
Accumulated impairment losses [member] | ||
Disclosure of detailed information about mining rights [line items] | ||
Beginning of the year | (895,381) | (895,381) |
Movement: | ||
End of the year | ¥ (895,381) | ¥ (895,381) |
Derivative financial instrume_3
Derivative financial instruments (Details of derivative financial assets) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Details of derivative financial instruments [line items] | ||
Derivative financial assets | ¥ 184,733 | ¥ 91,287 |
Less: non-current portion | 74,554 | 16,376 |
Current portion | 110,179 | 74,911 |
Hedging instruments for cash flow hedge (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets | 184,458 | 82,367 |
Less: non-current portion | 74,551 | 15,101 |
Hedging instruments for cash flow hedge (exchange forward contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets | 275 | 4,319 |
Less: non-current portion | ¥ 3 | 1,275 |
Financial instruments at fair value through profit or loss (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets | ¥ 4,601 |
Derivative financial instrume_4
Derivative financial instruments (Details of derivative financial liabilities) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities, Carrying amounts | ¥ 295,001 | ¥ 450,708 |
Less: non-current portion | 188,139 | 200,408 |
Current portion | 106,862 | 250,300 |
Hedging instruments for cash flow hedge (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities, Carrying amounts | 45,111 | 243,045 |
Less: non-current portion | 10,358 | 39,684 |
Hedging instruments for cash flow hedge (exchange forward contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities, Carrying amounts | 68,853 | 42,082 |
Less: non-current portion | 17,551 | 13,641 |
Hedging instruments for cash flow hedge (interest rate swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities, Carrying amounts | 181,037 | 162,594 |
Less: non-current portion | ¥ 160,230 | 145,590 |
Financial instruments at fair value through profit or loss (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities, Carrying amounts | 2,987 | |
Less: non-current portion | ¥ 1,493 |
Derivative financial instrume_5
Derivative financial instruments (Narrative) (Detail) ¥ in Thousands, $ in Millions | 12 Months Ended | 24 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2020CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019USD ($) | |
Details of derivative financial instruments [line items] | |||||
Material ineffective portion recognized in the profit or loss arising from cash flow hedges | ¥ 0 | ||||
Notional amount | ¥ 48,000,000 | 48,000,000 | |||
Derivative financial liabilities | ¥ 295,001 | 295,001 | ¥ 450,708 | ||
Hedge ratio for hedging relationships | 1:1 | ||||
Interest rate swap contract [member] | |||||
Details of derivative financial instruments [line items] | |||||
Derivative financial liabilities | ¥ 181,000 | 181,000 | 163,000 | ||
TPG and TPSTMWR [member] | Interest rate swap contract [member] | |||||
Details of derivative financial instruments [line items] | |||||
Notional amount | ¥ 700,000 | ¥ 700,000 | $ 142 | ¥ 4,086,000 | $ 929 |
TPG [member] | Interest rate swap contract [member] | |||||
Details of derivative financial instruments [line items] | |||||
Original annual floating interest | 6-month SOR | ||||
TP-STM Water Resources Pte.Ltd. [member] | |||||
Details of derivative financial instruments [line items] | |||||
Original annual floating interest | 3-month SOR |
Derivative financial instrume_6
Derivative financial instruments (Analysis of contractual cash inflows (outflows) of major derivative financial instruments) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Details of derivative financial instruments [line items] | ||
Derivative financial assets, Carrying amounts | ¥ 184,733 | ¥ 91,287 |
Derivative financial liabilities, Carrying amounts | 295,001 | 450,708 |
Hedging instruments for cash flow hedge (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets, Carrying amounts | 184,458 | 82,367 |
Derivative financial liabilities, Carrying amounts | 45,111 | 243,045 |
Derivative financial assets (net settlement), Contractual cash flows | 184,458 | 82,367 |
Derivative financial liabilities (net settlement), Contractual cash flows | (45,111) | (243,045) |
Hedging instruments for cash flow hedge (exchange forward contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets, Carrying amounts | 275 | 4,319 |
Derivative financial liabilities, Carrying amounts | 68,853 | 42,082 |
Derivative financial assets - inflows, Contractual cash flows | 304,090 | 697,057 |
Derivative financial assets - outflows, Contractual cash flows | (303,780) | (691,081) |
Derivative financial assets (net settlement), Contractual cash flows | 310 | 5,976 |
Derivative financial liabilities - inflows, Contractual cash flows | 1,918,752 | 2,702,992 |
Derivative financial liabilities - outflows, Contractual cash flows | (1,986,755) | (2,738,635) |
Derivative financial liabilities (net settlement), Contractual cash flows | (68,003) | (35,643) |
Hedging instruments for cash flow hedge (interest rate swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities, Carrying amounts | 181,037 | 162,594 |
Derivative financial liabilities (net settlement), Contractual cash flows | (230,534) | (188,162) |
Financial instruments at fair value through profit or loss (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets, Carrying amounts | 4,601 | |
Derivative financial liabilities, Carrying amounts | 2,987 | |
Derivative financial liabilities (net settlement), Contractual cash flows | (2,987) | |
Forward exchange contracts that do not qualify as hedges [member] | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets, Carrying amounts | 4,601 | |
Derivative financial assets (net settlement), Contractual cash flows | 4,601 | |
Within 1 year | Hedging instruments for cash flow hedge (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets (net settlement), Contractual cash flows | 109,907 | 67,266 |
Derivative financial liabilities (net settlement), Contractual cash flows | (34,753) | (203,361) |
Within 1 year | Hedging instruments for cash flow hedge (exchange forward contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets - inflows, Contractual cash flows | 302,424 | 585,340 |
Derivative financial assets - outflows, Contractual cash flows | (302,120) | (581,248) |
Derivative financial assets (net settlement), Contractual cash flows | 304 | 4,092 |
Derivative financial liabilities - inflows, Contractual cash flows | 1,498,700 | 2,042,062 |
Derivative financial liabilities - outflows, Contractual cash flows | (1,549,515) | (2,067,617) |
Derivative financial liabilities (net settlement), Contractual cash flows | (50,815) | (25,555) |
Within 1 year | Hedging instruments for cash flow hedge (interest rate swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities (net settlement), Contractual cash flows | (37,564) | (33,497) |
Within 1 year | Financial instruments at fair value through profit or loss (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities (net settlement), Contractual cash flows | (1,493) | |
Within 1 year | Forward exchange contracts that do not qualify as hedges [member] | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets (net settlement), Contractual cash flows | 4,601 | |
Cash flows, Between 1 and 5 years [member] | Hedging instruments for cash flow hedge (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets (net settlement), Contractual cash flows | 74,551 | 15,101 |
Derivative financial liabilities (net settlement), Contractual cash flows | (10,358) | (39,684) |
Cash flows, Between 1 and 5 years [member] | Hedging instruments for cash flow hedge (exchange forward contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial assets - inflows, Contractual cash flows | 1,666 | 111,717 |
Derivative financial assets - outflows, Contractual cash flows | (1,660) | (109,833) |
Derivative financial assets (net settlement), Contractual cash flows | 6 | 1,884 |
Derivative financial liabilities - inflows, Contractual cash flows | 420,052 | 660,930 |
Derivative financial liabilities - outflows, Contractual cash flows | (437,240) | (671,018) |
Derivative financial liabilities (net settlement), Contractual cash flows | (17,188) | (10,088) |
Cash flows, Between 1 and 5 years [member] | Hedging instruments for cash flow hedge (interest rate swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities (net settlement), Contractual cash flows | (69,890) | (48,412) |
Cash flows, Between 1 and 5 years [member] | Financial instruments at fair value through profit or loss (fuel swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities (net settlement), Contractual cash flows | (1,494) | |
After 5 years | Hedging instruments for cash flow hedge (interest rate swap contracts) | ||
Details of derivative financial instruments [line items] | ||
Derivative financial liabilities (net settlement), Contractual cash flows | ¥ (123,080) | ¥ (106,253) |
Goodwill (Movements of goodwill
Goodwill (Movements of goodwill) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of reconciliation of changes in goodwill [line items] | |||
Beginning of the year | ¥ 15,934,955 | ¥ 15,934,955 | ¥ 15,572,227 |
Movement: | |||
Business combination | 12,615 | ||
Impairment charge for the year | (685,036) | (409,371) | |
End of the year | 14,738,016 | 15,934,955 | 15,934,955 |
Original cost | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Beginning of the year | 19,292,497 | 19,292,497 | 18,941,078 |
Movement: | |||
Disposal of subsidiary | (21,723) | ||
Currency translation differences | (539,577) | 373,142 | |
End of the year | 18,765,535 | 19,292,497 | 19,292,497 |
Accumulated impairment losses [member] | |||
Disclosure of reconciliation of changes in goodwill [line items] | |||
Beginning of the year | (3,357,542) | (3,357,542) | (3,368,851) |
Movement: | |||
Disposal of subsidiary | 21,723 | ||
Currency translation differences | 15,059 | (10,414) | |
End of the year | ¥ (4,027,519) | ¥ (3,357,542) | ¥ (3,357,542) |
Goodwill (Impairment test for g
Goodwill (Impairment test for goodwill) (Carrying amounts of major goodwill allocated to individual CGUs) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Impairment test for goodwill [line items] | ||||
Major Goodwill allocated to individual CGUs | ¥ 14,738,016 | ¥ 15,934,955 | ¥ 15,934,955 | ¥ 15,572,227 |
Yunhe Power (viii) | ||||
Impairment test for goodwill [line items] | ||||
Major Goodwill allocated to individual CGUs | 295,001 | 700,346 | ||
Linyi Power | ||||
Impairment test for goodwill [line items] | ||||
Major Goodwill allocated to individual CGUs | 382,500 | 541,307 | ||
Wuhan Power | ||||
Impairment test for goodwill [line items] | ||||
Major Goodwill allocated to individual CGUs | 518,484 | 518,484 | ||
Liaocheng Co-generation | ||||
Impairment test for goodwill [line items] | ||||
Major Goodwill allocated to individual CGUs | 429,750 | 495,448 | ||
Tuas Power | ||||
Impairment test for goodwill [line items] | ||||
Major Goodwill allocated to individual CGUs | 10,666,426 | 11,190,944 | ||
Yantai Power Plant | ||||
Impairment test for goodwill [line items] | ||||
Major Goodwill allocated to individual CGUs | 31,706 | 62,837 | ||
Yichun Thermal Power | ||||
Impairment test for goodwill [line items] | ||||
Major Goodwill allocated to individual CGUs | ¥ 24,397 | ¥ 48,453 |
Goodwill (Impairment test for_2
Goodwill (Impairment test for goodwill) (Pre-tax discount rates used for value-in-use calculations) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2018 | Dec. 31, 2019 | |
Impairment test for goodwill [line items] | |||
Terminal growth rate of cash flows beyond the terminal year | 0.00% | ||
Impairment loss of goodwill (Note 14) | ¥ 685,036 | ¥ 409,371 | |
Yunhe Power (viii) | |||
Impairment test for goodwill [line items] | |||
Pre-tax discount rates | 8.98% | 9.22% | |
Linyi Power | |||
Impairment test for goodwill [line items] | |||
Pre-tax discount rates | 9.00% | 9.23% | |
Wuhan Power | |||
Impairment test for goodwill [line items] | |||
Pre-tax discount rates | 8.94% | 9.21% | |
Liaocheng Co-generation | |||
Impairment test for goodwill [line items] | |||
Pre-tax discount rates | 8.90% | 9.18% | |
Yantai Power Plant | |||
Impairment test for goodwill [line items] | |||
Pre-tax discount rates | 7.85% | 9.19% | |
Yichun Thermal Power | |||
Impairment test for goodwill [line items] | |||
Pre-tax discount rates | 8.35% | 9.30% | |
Tuas Power | |||
Impairment test for goodwill [line items] | |||
Terminal growth rate of cash flows beyond the terminal year | 2.00% | 2.00% | |
Pre-tax discount rates | 8.40% | 7.33% |
Goodwill (Key assumptions used
Goodwill (Key assumptions used for value-in-use calculations) (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of changes in accounting estimates [line items] | |||
Growth rate used to extrapolate cash flow projections | 0.00% | ||
Yunhe Power (viii) | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | ¥ 405 | ¥ 0 | |
Pre-tax discount rate used in current estimate of value in use | 8.98% | 9.22% | |
Linyi Power | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | ¥ 159 | ¥ 0 | |
Pre-tax discount rate used in current estimate of value in use | 9.00% | 9.23% | |
Liaocheng Co-generation | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | ¥ 66 | ¥ 0 | |
Pre-tax discount rate used in current estimate of value in use | 8.90% | 9.18% | |
Yantai Power Plant | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | ¥ 31 | ¥ 0 | |
Pre-tax discount rate used in current estimate of value in use | 7.85% | 9.19% | |
Yichun Thermal Power | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | ¥ 24 | ¥ 0 | |
Pre-tax discount rate used in current estimate of value in use | 8.35% | 9.30% | |
Tuas Power | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | ¥ 0 | ¥ 0 | |
Market share ratio (as a percent) | 19.30% | 20.70% | 21.10% |
Growth rate used to extrapolate cash flow projections | 2.00% | 2.00% | |
Pre-tax discount rate used in current estimate of value in use | 8.40% | 7.33% | |
Decrease 1% from management's estimates of future sales volume [member] | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | ¥ 279 | ¥ 322 | |
Decrease 5% from management's estimates of future sales volume [member] | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | 1,723 | 2,930 | |
Increase 1% from management's estimates of fuel price [member] | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | 488 | 170 | |
Increase 5% from management's estimates of fuel price [member] | |||
Disclosure of changes in accounting estimates [line items] | |||
Impairment against goodwill to be further recognized by the Group | ¥ 2,588 | ¥ 1,829 | |
Increase of 0.5% in pre-tax discount rate [member] | CGUs in Singapore | |||
Disclosure of changes in accounting estimates [line items] | |||
Increase (decrease) in pre-tax discount rate | 0.50% | 0.50% | |
Decrease in the recoverable amount of the CGU due to increase in pre-tax discount rate | ¥ 1,691 | ¥ 1,706 |
Goodwill - Average gross margin
Goodwill - Average gross margin of electricity sales - Singapore Tuas Power (Details) - Tuas Power - $ / MWh | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Impairment test for goodwill [line items] | ||
2021 | 13.5 | 15.8 |
2022 | 15.4 | 28.5 |
2023 | 15.4 | 33.3 |
2024 | 30.1 | 38.5 |
2025 | 54.3 | 38.5 |
Terminal period | 42.4 | 38.5 |
Other non-current assets (Detai
Other non-current assets (Details of other non-current assets) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Other non-current assets | ||
Finance lease receivables | ¥ 9,431,733 | ¥ 10,519,845 |
VAT recoverable | 5,526,256 | 4,172,871 |
Prepayments for pre-construction cost | 438,167 | 788,081 |
Intangible assets | 643,486 | 784,594 |
Prepaid connection fees | 33,041 | 37,484 |
Contract assets | 736,568 | 642,557 |
Others | 1,728,332 | 1,659,573 |
Total | 18,537,583 | 18,605,005 |
Impairment provided for the intangible assets | ¥ 0 | ¥ 0 |
Inventories (Details of invento
Inventories (Details of inventories) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Inventories | |||
Fuel (coal and oil) for power generation | ¥ 5,327,750 | ¥ 7,304,783 | |
Material and supplies | 1,473,355 | 1,765,827 | |
Gross amounts of inventories | 6,801,105 | 9,070,610 | |
Less: provision for inventory obsolescence | 198,646 | 187,427 | ¥ 430,707 |
Total | ¥ 6,602,459 | ¥ 8,883,183 |
Inventories (Movements of provi
Inventories (Movements of provision for inventory obsolescence during years) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Inventories | ||
Beginning of the year | ¥ (187,427) | ¥ (430,707) |
Provision | (43,993) | (23,507) |
Reversal | 917 | 1,054 |
Write off | 25,378 | 272,659 |
Currency translation differences | 6,479 | (6,926) |
End of the year | ¥ (198,646) | ¥ (187,427) |
Inventories - Losses on scrappe
Inventories - Losses on scrapped materials and supplies (Details) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020CNY (¥)item | Dec. 31, 2019CNY (¥) | |
Inventories Disclosure [Line Items] | ||
Losses on scrapped materials and supplies | ¥ 167,449 | ¥ 6,384 |
Book value of inventories scrapped | 1,473,355 | ¥ 1,765,827 |
Huaneng Power International, Inc. Shang'an Power Plant ("Shang'an Power Plant") (i) | ||
Inventories Disclosure [Line Items] | ||
Losses on scrapped materials and supplies | ¥ 46,598 | |
Number of items scrapped | item | 4,665 | |
Book value of inventories scrapped | ¥ 40,112 | |
Huaneng Power International, Inc. Shanghai Shidongkou II Power Plant ("Shidongkou II") (ii) | ||
Inventories Disclosure [Line Items] | ||
Losses on scrapped materials and supplies | ¥ 29,494 | |
Number of items scrapped | item | 4,685 | |
Book value of inventories scrapped | ¥ 29,494 | |
Number of batches of quality inspections on material and spare parts | item | 2 | |
Minimum age of material and spare parts on which quality inspections were carried out | 10 years | |
Other items | ||
Inventories Disclosure [Line Items] | ||
Losses on scrapped materials and supplies | ¥ 91,357 | |
Number of other items | item | 22 |
Other receivables and assets (D
Other receivables and assets (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | |
Other receivables and assets | |||
Prepayments for inventories | ¥ 1,222,785 | ¥ 758,834 | |
Prepaid income tax | 133,090 | 139,617 | |
Others | 335,189 | 266,252 | |
Subtotal of prepayments | 1,691,064 | 1,164,703 | |
Less: Loss allowance | 2,638 | 2,638 | |
Total prepayments, net | 1,688,426 | 1,162,065 | |
Ifrs Dividends Receivable | 50,000 | ||
Receivables from sales of fuel | 249,852 | 99,649 | |
Others | [1] | 2,222,593 | 2,077,156 |
Subtotal of other receivables | 2,522,445 | 2,176,805 | |
Less: Loss allowance | 187,675 | 52,531 | |
Total other receivables, net | 2,334,770 | 2,124,274 | |
Profit compensation from Huaneng Group | 457,727 | ||
VAT recoverable | 2,428,315 | 1,773,396 | |
Finance lease receivables (Note 41) | 478,666 | 483,691 | |
Designated loan to a joint venture | 304,306 | 80,000 | |
Others | 138,209 | 136,610 | |
Subtotal other assets | 3,349,496 | 2,931,424 | |
Less: Loss allowance | 64,615 | ||
Total other assets, net | 3,284,881 | 2,931,424 | |
Gross total | 7,563,005 | 6,272,932 | |
Net total | ¥ 7,308,077 | ¥ 6,217,763 | |
[1] | Included in others, there were advances amounting to RMB 222 million as at 31 December 2020 (31 December 2019: RMB 232 million) which were due from Huangtai #8 Power Plant with indefinite repayment terms. For the year ended 31 December 2020, Huangtai Power, a subsidiary of the Company, received total repayments amounting to RMB 10 million (for the year ended 31 December 2019: RMB 41 million). |
Other receivables and assets (G
Other receivables and assets (Gross amounts of other receivables denominated) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Gross amounts of other receivables denominated [line items] | ||
Gross amounts of other receivables | ¥ 2,522,445 | ¥ 2,176,805 |
RMB | ||
Gross amounts of other receivables denominated [line items] | ||
Gross amounts of other receivables | 1,945,945 | 1,943,568 |
S$ | ||
Gross amounts of other receivables denominated [line items] | ||
Gross amounts of other receivables | 102,484 | 86,422 |
US$ | ||
Gross amounts of other receivables denominated [line items] | ||
Gross amounts of other receivables | 16,585 | 11,898 |
PKR | ||
Gross amounts of other receivables denominated [line items] | ||
Gross amounts of other receivables | ¥ 457,431 | ¥ 134,917 |
Other receivables and assets (M
Other receivables and assets (Movements of other receivables and assets loss allowance) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Other receivables and assets | ||
Beginning of the year | ¥ (55,169) | ¥ (43,169) |
Provision | (148,976) | (25,578) |
Reversal | 18 | 2,300 |
Write-off | 3,559 | 11,278 |
Others | (62,772) | |
Currency translation differences | 8,412 | |
End of the year | ¥ (254,928) | ¥ (55,169) |
Other receivables and assets (A
Other receivables and assets (Advances and repayment received) (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Huaneng Jinan Huangtai Power Limited Company | ||
Details of other receivables and assets [line items] | ||
Total repayments recevied | ¥ 10 | ¥ 41 |
Huangtai #8 Power Plant | ||
Details of other receivables and assets [line items] | ||
Advances due from related parties with indefinite repayment terms | ¥ 222 | ¥ 232 |
Other receivables and assets (P
Other receivables and assets (Property right acquisition) (Detail) - Huangtai #8 Power Plant ¥ in Millions | Dec. 31, 2020CNY (¥) |
Details of other receivables and assets [line items] | |
Proportion of property right acquired | 30.00% |
Shandong Power | |
Details of other receivables and assets [line items] | |
Proportion of property right acquired | 30.00% |
Cash consideration for acquiring property rights | ¥ 110 |
Accounts and notes receivable_2
Accounts and notes receivable (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Analysed into: | |||
Accounts receivable | ¥ 30,045,678 | ¥ 26,911,837 | |
Notes receivable | 8,325,966 | 5,552,422 | |
Gross amounts of accounts receivable | 38,371,644 | 32,464,259 | |
Less: Loss allowance | 155,929 | 195,320 | ¥ 146,913 |
Total | 38,215,715 | 32,268,939 | |
At amortised cost ] | |||
Analysed into: | |||
Accounts receivable | 28,789,790 | 25,547,258 | |
Notes receivable | 8,325,966 | 5,552,422 | |
At fair value through other comprehensive income | |||
Analysed into: | |||
Accounts receivable | ¥ 1,255,888 | ¥ 1,364,579 |
Accounts and notes receivable_3
Accounts and notes receivable (Denominations of gross amounts of account receivable) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Gross amounts of accounts receivable denominated [line items] | ||
Gross amounts of accounts receivable | ¥ 38,371,644 | ¥ 32,464,259 |
RMB | ||
Gross amounts of accounts receivable denominated [line items] | ||
Gross amounts of accounts receivable | 35,113,954 | 29,382,384 |
S$ | ||
Gross amounts of accounts receivable denominated [line items] | ||
Gross amounts of accounts receivable | 996,686 | 1,077,008 |
US$ | ||
Gross amounts of accounts receivable denominated [line items] | ||
Gross amounts of accounts receivable | 21,640 | 39,146 |
PKR | ||
Gross amounts of accounts receivable denominated [line items] | ||
Gross amounts of accounts receivable | ¥ 2,239,364 | ¥ 1,965,721 |
Accounts and notes receivable_4
Accounts and notes receivable (Movements of loss allowance) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts and notes receivable | ||
Beginning of the year | ¥ (195,320) | ¥ (146,913) |
Provision | (24,105) | (64,838) |
Reversal | 441 | 16,596 |
Write-off | 20 | |
Others | 62,772 | |
Currency translation differences | 263 | (165) |
End of the year | ¥ (155,929) | ¥ (195,320) |
Accounts and notes receivable_5
Accounts and notes receivable (Ageing analysis of accounts receivable and notes receivable based on the invoice date) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Ageing analysis of accounts receivable and notes receivable [line items] | ||
Accounts receivable and notes receivable based on the invoice date | ¥ 38,371,644 | ¥ 32,464,259 |
Within 1 year | ||
Ageing analysis of accounts receivable and notes receivable [line items] | ||
Accounts receivable and notes receivable based on the invoice date | 37,966,985 | 31,566,008 |
Between 1 to 2 years | ||
Ageing analysis of accounts receivable and notes receivable [line items] | ||
Accounts receivable and notes receivable based on the invoice date | 174,604 | 696,401 |
Between 2 to 3 years | ||
Ageing analysis of accounts receivable and notes receivable [line items] | ||
Accounts receivable and notes receivable based on the invoice date | 86,388 | 57,667 |
Over 3 years | ||
Ageing analysis of accounts receivable and notes receivable [line items] | ||
Accounts receivable and notes receivable based on the invoice date | ¥ 143,667 | ¥ 144,183 |
Accounts and notes receivable_6
Accounts and notes receivable (Narrative) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about accounts receivable [line items] | ||
Carrying amount of accounts receivable transferred to the banks | ¥ 200,000 | |
Original carrying value of the accounts receivable transferred under the arrangements that have not been settled | 200,000 | ¥ 150,000 |
Original carrying value of the accounts receivable transferred under the arrangement that have not been settled | 1,220,000 | 1,000,000 |
Loss on the date of transfer of the accounts receivable | 41,482 | 10,528 |
Accounts receivable secured to banks as collateral against loans | ¥ 0 | ¥ 0 |
The maturity period of the notes receivable | 1 to 12 months | 1 to 12 months |
Domestic local power grid customers | ||
Disclosure of detailed information about accounts receivable [line items] | ||
Credit periods | one month from the end of the month in which the sales are made | |
SinoSing Power | ||
Disclosure of detailed information about accounts receivable [line items] | ||
Credit periods | from 5 to 60 days from the dates of billings |
Share capital (Detail)
Share capital (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of classes of share capital [line items] | ||
Number of shares, at the beginning of period | 15,698,093,359 | 15,698,093,359 |
Share capital, at the beginning of period | ¥ 15,698,093 | ¥ 15,698,093 |
Number of shares, at the end of period | 15,698,093,359 | 15,698,093,359 |
Share capital, at the end of period | ¥ 15,698,093 | ¥ 15,698,093 |
A shares | ||
Disclosure of classes of share capital [line items] | ||
Number of shares, at the beginning of period | 10,997,709,919 | 10,997,709,919 |
Share capital, at the beginning of period | ¥ 10,997,710 | ¥ 10,997,710 |
Number of shares, issuance of new A shares | 0 | 0 |
Share capital, issuance of new A shares | ¥ 0 | ¥ 0 |
Number of shares, at the end of period | 10,997,709,919 | 10,997,709,919 |
Share capital, at the end of period | ¥ 10,997,710 | ¥ 10,997,710 |
Overseas listed foreign shares | ||
Disclosure of classes of share capital [line items] | ||
Number of shares, at the beginning of period | 4,700,383,440 | 4,700,383,440 |
Share capital, at the beginning of period | ¥ 4,700,383 | ¥ 4,700,383 |
Number of shares, at the end of period | 4,700,383,440 | 4,700,383,440 |
Share capital, at the end of period | ¥ 4,700,383 | ¥ 4,700,383 |
Other equity instruments (Detai
Other equity instruments (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2017 | |
Disclosure of information about other equity instruments [line items] | |||
Par Value | ¥ 48,000,000 | ||
Bond A [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Initial Distribution Rate | 5.05% | ||
Number | 25,000,000 | ||
Bond B [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | September 2017 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 5.17% | 5.17% | |
Issue Price | ¥ 100 | ||
Number | 25,000,000 | 25,000,000 | |
Par Value | ¥ 2,500,000 | ||
Initial Period | 5 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
Yingda Insurance Financing Plan (1st) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | September 2018 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 5.79% | ||
Par Value | ¥ 3,283,000 | ||
Initial Period | 8 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
Yingda Insurance Financing Plan (2nd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | September 2018 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 5.79% | ||
Par Value | ¥ 827,000 | ||
Initial Period | 8 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
Yingda Insurance Financing Plan (3rd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | September 2018 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 5.79% | ||
Par Value | ¥ 890,000 | ||
Initial Period | 8 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
China Life Financing Plan (1st) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | September 2019 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 5.05% | ||
Par Value | ¥ 2,070,000 | ||
Initial Period | 8 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
PICC Financing Plan (1st) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | September 2019 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 5.10% | ||
Par Value | ¥ 930,000 | ||
Initial Period | 10 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
2019 medium-term notes (2nd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | October 2019 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 4.08% | 4.08% | |
Issue Price | ¥ 100 | ||
Number | 20,000,000 | 20,000,000 | |
Par Value | ¥ 2,000,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
2019 medium-term notes (3rd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | October 2019 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 4.05% | 4.05% | |
Issue Price | ¥ 100 | ||
Number | 20,000,000 | 20,000,000 | |
Par Value | ¥ 2,000,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
China Life Financing Plan (2nd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | October 2019 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 5.05% | ||
Par Value | ¥ 2,260,000 | ||
Initial Period | 8 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
PICC Financing Plan (2nd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | October 2019 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 5.10% | ||
Par Value | ¥ 1,740,000 | ||
Initial Period | 10 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
2019 medium-term notes (4th) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | November 2019 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 4.15% | 4.15% | |
Issue Price | ¥ 100 | ||
Number | 25,000,000 | 25,000,000 | |
Par Value | ¥ 2,500,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
2019 medium-term notes (4th) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | November 2019 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 4.53% | 4.53% | |
Issue Price | ¥ 100 | ||
Number | 15,000,000 | 15,000,000 | |
Par Value | ¥ 1,500,000 | ||
Initial Period | 5 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
Bond C | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | March 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 3.58% | ||
Issue Price | ¥ 100 | ||
Number | 20,000,000 | ||
Par Value | ¥ 2,000,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
Bond D | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | March 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 3.85% | ||
Issue Price | ¥ 100 | ||
Number | 10,000,000 | ||
Par Value | ¥ 1,000,000 | ||
Initial Period | 5 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
2020 medium-term notes (1st) | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | April 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 3.18% | ||
Issue Price | ¥ 100 | ||
Number | 30,000,000 | ||
Par Value | ¥ 3,000,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
China Life Financing Plan (3rd) | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | April 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 4.75% | ||
Par Value | ¥ 3,570,000 | ||
Initial Period | 8 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
PICC Financing Plan (3rd) | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | April 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 4.75% | ||
Par Value | ¥ 930,000 | ||
Initial Period | 10 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
Bond E | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | April 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 3.09% | ||
Issue Price | ¥ 100 | ||
Number | 25,000,000 | ||
Par Value | ¥ 2,500,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
2020 medium-term notes (2nd) | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | June 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 3.60% | ||
Issue Price | ¥ 100 | ||
Number | 35,000,000 | ||
Par Value | ¥ 3,500,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
2020 medium-term notes (3rd) | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | August 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 3.99% | ||
Issue Price | ¥ 100 | ||
Number | 20,000,000 | ||
Par Value | ¥ 2,000,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
PICC Financing Plan (4th) | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | August 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 4.60% | ||
Par Value | ¥ 3,000,000 | ||
Initial Period | 10 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
Bond F | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | September 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 4.38% | ||
Issue Price | ¥ 100 | ||
Number | 30,000,000 | ||
Par Value | ¥ 3,000,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None | ||
2020 medium-term notes (4th) | |||
Disclosure of information about other equity instruments [line items] | |||
Issuance Date | September 2020 | ||
Category | Equity Instrument | ||
Initial Distribution Rate | 4.40% | ||
Issue Price | ¥ 100 | ||
Number | 10,000,000 | ||
Par Value | ¥ 1,000,000 | ||
Initial Period | 3 years | ||
Conversion Condition | None | ||
Conversion Result | None |
Other equity instruments (Major
Other equity instruments (Major provisions) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 25,457,450 | ¥ 14,982,165 | ¥ 5,000,000 | |
Profit | 2,610,563 | 1,108,205 | 1,329,974 | |
Other equity instruments. | ||||
Disclosure of information about other equity instruments [line items] | ||||
Profit | ¥ 1,770,000 | 686,000 | ||
Two tranches of perpetual corporate bonds issued in 2017 [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum | |||
Bond A [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 2,500,000 | |||
Initial distribution rate | 5.05% | |||
Date can be callable at the Company's discretion in whole | August 2020 | |||
Period as be deferred to pay the principal for each renewal period | P3Y | |||
Bond B [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 2,500,000 | |||
Initial distribution rate | 5.17% | 5.17% | ||
Date can be callable at the Company's discretion in whole | August 2022 | |||
Period as be deferred to pay the principal for each renewal period | 5 years | |||
Three tranches of Yingda Insurance Financing Plan [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 5,000,000 | |||
Initial distribution rate | 5.79% | |||
Date can be callable at the Company's discretion in whole | at each distribution date after the 8th year of issuance | |||
Three tranches of Yingda Insurance Financing Plan [member] | From the 9th to the 11th year [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the higher of the initial distribution rate plus 300 basis points and the 10-year treasury bond yield in the 9th year after the issuance plus 600 basis points | |||
Three tranches of Yingda Insurance Financing Plan [member] | From the 11th to the 13th year [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the higher of the initial distribution rate plus 600 basis points and the 10-year treasury bond yield in the 11th year after the issuance plus 900 basis points | |||
Three tranches of Yingda Insurance Financing Plan [member] | From the 13th year onwards [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the higher of the initial distribution rate plus 900 basis points and the 10-year treasury bond yield in the 13th year after the issuance plus 1,200 basis points | |||
Two tranches of China Life Financing Plan ("the China Life plan") [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 4,330,000 | |||
Initial distribution rate | 5.05% | |||
Date can be callable at the Company's discretion in whole | at each distribution date after the 8th year of issuance | |||
Two tranches of China Life Financing Plan ("the China Life plan") [member] | From the 9th [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the basis rate plus 300 basis points, and will remain 8.05% afterwards | |||
Two tranches of PICC Financing Plan ("the PICC plan") [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 2,670,000 | |||
Initial distribution rate | 5.10% | |||
Date can be callable at the Company's discretion in whole | at each distribution date after 10th year of issuance | |||
Two tranches of PICC Financing Plan ("the PICC plan") [member] | From the 11th [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | to the basis rate plus 300 basis points, and will remain 8.10% afterwards | |||
Two tranches of medium-term notes issued in October 2019 [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum | |||
2019 medium-term notes (2nd) [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 2,000,000 | |||
Initial distribution rate | 4.08% | 4.08% | ||
Date can be callable at the Company's discretion in whole | at the Company’s discretion at specific time | |||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
2019 medium-term notes (3rd) [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 2,000,000 | |||
Initial distribution rate | 4.05% | 4.05% | ||
Date can be callable at the Company's discretion in whole | at the Company's discretion at specific time | |||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
Two tranches of medium-term notes issued In November 2019 [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Date can be callable at the Company's discretion in whole | at the Company’s discretion at specific time | |||
Application distribution rate | the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum | |||
2019 medium-term notes (4th) [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 2,500,000 | |||
Initial distribution rate | 4.15% | 4.15% | ||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
2019 medium-term notes (4th) [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 1,500,000 | |||
Initial distribution rate | 4.53% | 4.53% | ||
Period as be deferred to pay the principal for each renewal period | 5 years | |||
Two tranches of perpetual corporate bonds issued in March 2020 | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum | |||
Bond C | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 2,000,000 | |||
Initial distribution rate | 3.58% | |||
Date can be callable at the Company's discretion in whole | February 2023 | |||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
Bond D | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 1,000,000 | |||
Initial distribution rate | 3.85% | |||
Date can be callable at the Company's discretion in whole | February 2025 | |||
Period as be deferred to pay the principal for each renewal period | 5 years | |||
2020 medium-term notes (1st) | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 3,000,000 | |||
Initial distribution rate | 3.18% | |||
Date can be callable at the Company's discretion in whole | at the Company’s discretion at specific time | |||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
Application distribution rate | the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum | |||
China Life Financing Plan (3rd) | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 3,570,000 | |||
Initial distribution rate | 4.75% | |||
Date can be callable at the Company's discretion in whole | at each distribution date after the 8th year of issuance | |||
China Life Financing Plan (3rd) | From the 9th [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the basis rate plus 300 basis points, and will remain 7.75% afterwards | |||
PICC Financing Plan (3rd) | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 930,000 | |||
Initial distribution rate | 4.75% | |||
Date can be callable at the Company's discretion in whole | at each distribution date after the 10th year of issuance | |||
PICC Financing Plan (3rd) | From the 11th [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the basis rate plus 300 basis points, and will remain 7.75% afterwards | |||
Bond E | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 2,500,000 | |||
Initial distribution rate | 3.09% | |||
Date can be callable at the Company's discretion in whole | March 2023 | |||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
Application distribution rate | the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum | |||
2020 medium-term notes (2nd) | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 3,500,000 | |||
Initial distribution rate | 3.60% | |||
Date can be callable at the Company's discretion in whole | at the Company’s discretion at specific time | |||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
Application distribution rate | the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum | |||
Two tranches of medium-term notes issued in August 2020 and September 2020 | ||||
Disclosure of information about other equity instruments [line items] | ||||
Date can be callable at the Company's discretion in whole | at the Company’s discretion at specific time | |||
Application distribution rate | the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum | |||
2020 medium-term notes (3rd) | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 2,000,000 | |||
Initial distribution rate | 3.99% | |||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
2020 medium-term notes (4th) | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 1,000,000 | |||
Initial distribution rate | 4.40% | |||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
PICC Financing Plan (4th) | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 3,000,000 | |||
Initial distribution rate | 4.60% | |||
Date can be callable at the Company's discretion in whole | at each distribution date after the 10th year of issuance | |||
PICC Financing Plan (4th) | From the 11th [member] | ||||
Disclosure of information about other equity instruments [line items] | ||||
Application distribution rate | the basis rate plus 300 basis points, and will remain 7.60% afterwards | |||
Bond F | ||||
Disclosure of information about other equity instruments [line items] | ||||
Aggregate net proceeds from issuing other equity instruments | ¥ 3,000,000 | |||
Initial distribution rate | 4.38% | |||
Date can be callable at the Company's discretion in whole | August 2023 | |||
Period as be deferred to pay the principal for each renewal period | 3 years | |||
Application distribution rate | the sum of the applicable benchmark interest rate, the initial spread and 300 basis points per annum |
Other equity instruments (Chang
Other equity instruments (Changes of other equity instruments) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of information about other equity instruments [line items] | |||
Amount, at the beginning of period | ¥ 25,127,821 | ||
Amount, Issuance | 25,457,450 | ||
Cumulative distributions, Accrued distribution | 1,770,469 | ¥ 685,922 | ¥ 342,349 |
Cumulative distributions, Distribution payment | (1,436,117) | (617,662) | ¥ (333,503) |
Redemption value | (2,500,000) | ||
Redemption difference | 156 | ||
Amount, at the end of period | ¥ 48,419,779 | ¥ 25,127,821 | |
Bond A [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Number, at the beginning of period | 25,000,000 | ||
Amount, at the beginning of period | ¥ 2,533,780 | ||
Amount, Issuance | (131) | ||
Cumulative distributions, Accrued distribution | 92,445 | ||
Cumulative distributions, Distribution payment | (126,250) | ||
Redemption value | (2,500,000) | ||
Redemption difference | ¥ 156 | ||
Number, at the end of period | 25,000,000 | ||
Amount, at the end of period | ¥ 2,533,780 | ||
Bond B [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Number, at the beginning of period | 25,000,000 | ||
Amount, at the beginning of period | ¥ 2,534,583 | ||
Cumulative distributions, Accrued distribution | 129,345 | ||
Cumulative distributions, Distribution payment | ¥ (129,250) | ||
Number, at the end of period | 25,000,000 | 25,000,000 | |
Amount, at the end of period | ¥ 2,534,678 | ¥ 2,534,583 | |
Yingda Insurance Financing Plan (1st) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, at the beginning of period | 3,288,808 | ||
Cumulative distributions, Accrued distribution | 193,254 | ||
Cumulative distributions, Distribution payment | (193,254) | ||
Amount, at the end of period | 3,288,808 | 3,288,808 | |
Yingda Insurance Financing Plan (2nd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, at the beginning of period | 828,463 | ||
Cumulative distributions, Accrued distribution | 48,681 | ||
Cumulative distributions, Distribution payment | (48,681) | ||
Amount, at the end of period | 828,463 | 828,463 | |
Yingda Insurance Financing Plan (3rd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, at the beginning of period | 891,575 | ||
Cumulative distributions, Accrued distribution | 52,390 | ||
Cumulative distributions, Distribution payment | (52,390) | ||
Amount, at the end of period | 891,575 | 891,575 | |
China Life Financing Plan (1st) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, at the beginning of period | 2,073,484 | ||
Cumulative distributions, Accrued distribution | 106,277 | ||
Cumulative distributions, Distribution payment | (106,277) | ||
Amount, at the end of period | 2,073,484 | 2,073,484 | |
PICC Financing Plan (1st) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, at the beginning of period | 930,922 | ||
Cumulative distributions, Accrued distribution | 48,221 | ||
Cumulative distributions, Distribution payment | (48,221) | ||
Amount, at the end of period | ¥ 930,922 | ¥ 930,922 | |
2019 medium-term notes (2nd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Number, at the beginning of period | 20,000,000 | ||
Amount, at the beginning of period | ¥ 2,011,533 | ||
Cumulative distributions, Accrued distribution | 81,646 | ||
Cumulative distributions, Distribution payment | ¥ (81,600) | ||
Number, at the end of period | 20,000,000 | 20,000,000 | |
Amount, at the end of period | ¥ 2,011,579 | ¥ 2,011,533 | |
2019 medium-term notes (3rd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Number, at the beginning of period | 20,000,000 | ||
Amount, at the beginning of period | ¥ 2,011,271 | ||
Cumulative distributions, Accrued distribution | 81,041 | ||
Cumulative distributions, Distribution payment | ¥ (81,000) | ||
Number, at the end of period | 20,000,000 | 20,000,000 | |
Amount, at the end of period | ¥ 2,011,312 | ¥ 2,011,271 | |
China Life Financing Plan (2nd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, at the beginning of period | 2,263,804 | ||
Cumulative distributions, Accrued distribution | 116,032 | ||
Cumulative distributions, Distribution payment | (116,032) | ||
Amount, at the end of period | 2,263,804 | 2,263,804 | |
PICC Financing Plan (2nd) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, at the beginning of period | 1,741,726 | ||
Cumulative distributions, Accrued distribution | 90,219 | ||
Cumulative distributions, Distribution payment | (90,219) | ||
Amount, at the end of period | ¥ 1,741,726 | ¥ 1,741,726 | |
2019 medium-term notes (4th) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Number, at the beginning of period | 25,000,000 | ||
Amount, at the beginning of period | ¥ 2,511,441 | ||
Cumulative distributions, Accrued distribution | 103,794 | ||
Cumulative distributions, Distribution payment | ¥ (103,750) | ||
Number, at the end of period | 25,000,000 | 25,000,000 | |
Amount, at the end of period | ¥ 2,511,485 | ¥ 2,511,441 | |
2019 medium-term notes (4th) [member] | |||
Disclosure of information about other equity instruments [line items] | |||
Number, at the beginning of period | 15,000,000 | ||
Amount, at the beginning of period | ¥ 1,506,431 | ||
Cumulative distributions, Accrued distribution | 67,979 | ||
Cumulative distributions, Distribution payment | ¥ (67,950) | ||
Number, at the end of period | 15,000,000 | 15,000,000 | |
Amount, at the end of period | ¥ 1,506,460 | ¥ 1,506,431 | |
Bond C | |||
Disclosure of information about other equity instruments [line items] | |||
Number, Issuance | 20,000,000 | ||
Amount, Issuance | ¥ 1,999,980 | ||
Cumulative distributions, Accrued distribution | ¥ 55,711 | ||
Number, at the end of period | 20,000,000 | ||
Amount, at the end of period | ¥ 2,055,691 | ||
Bond D | |||
Disclosure of information about other equity instruments [line items] | |||
Number, Issuance | 10,000,000 | ||
Amount, Issuance | ¥ 999,990 | ||
Cumulative distributions, Accrued distribution | ¥ 29,956 | ||
Number, at the end of period | 10,000,000 | ||
Amount, at the end of period | ¥ 1,029,946 | ||
2020 medium-term notes (1st) | |||
Disclosure of information about other equity instruments [line items] | |||
Number, Issuance | 30,000,000 | ||
Amount, Issuance | ¥ 2,981,135 | ||
Cumulative distributions, Accrued distribution | ¥ 68,741 | ||
Number, at the end of period | 30,000,000 | ||
Amount, at the end of period | ¥ 3,049,876 | ||
China Life Financing Plan (3rd) | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, Issuance | 3,570,000 | ||
Cumulative distributions, Accrued distribution | 120,587 | ||
Cumulative distributions, Distribution payment | (114,934) | ||
Amount, at the end of period | 3,575,653 | ||
PICC Financing Plan (3rd) | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, Issuance | 930,000 | ||
Cumulative distributions, Accrued distribution | 31,168 | ||
Cumulative distributions, Distribution payment | (30,309) | ||
Amount, at the end of period | ¥ 930,859 | ||
Bond E | |||
Disclosure of information about other equity instruments [line items] | |||
Number, Issuance | 25,000,000 | ||
Amount, Issuance | ¥ 2,499,975 | ||
Cumulative distributions, Accrued distribution | ¥ 53,546 | ||
Number, at the end of period | 25,000,000 | ||
Amount, at the end of period | ¥ 2,553,521 | ||
2020 medium-term notes (2nd) | |||
Disclosure of information about other equity instruments [line items] | |||
Number, Issuance | 35,000,000 | ||
Amount, Issuance | ¥ 3,484,124 | ||
Cumulative distributions, Accrued distribution | ¥ 67,660 | ||
Number, at the end of period | 35,000,000 | ||
Amount, at the end of period | ¥ 3,551,784 | ||
2020 medium-term notes (3rd) | |||
Disclosure of information about other equity instruments [line items] | |||
Number, Issuance | 20,000,000 | ||
Amount, Issuance | ¥ 1,995,313 | ||
Cumulative distributions, Accrued distribution | ¥ 29,515 | ||
Number, at the end of period | 20,000,000 | ||
Amount, at the end of period | ¥ 2,024,828 | ||
PICC Financing Plan (4th) | |||
Disclosure of information about other equity instruments [line items] | |||
Amount, Issuance | 3,000,000 | ||
Cumulative distributions, Accrued distribution | 48,683 | ||
Cumulative distributions, Distribution payment | (46,000) | ||
Amount, at the end of period | ¥ 3,002,683 | ||
Bond F | |||
Disclosure of information about other equity instruments [line items] | |||
Number, Issuance | 30,000,000 | ||
Amount, Issuance | ¥ 2,999,970 | ||
Cumulative distributions, Accrued distribution | ¥ 40,680 | ||
Number, at the end of period | 30,000,000 | ||
Amount, at the end of period | ¥ 3,040,650 | ||
2020 medium-term notes (4th) | |||
Disclosure of information about other equity instruments [line items] | |||
Number, Issuance | 10,000,000 | ||
Amount, Issuance | ¥ 997,094 | ||
Cumulative distributions, Accrued distribution | ¥ 12,898 | ||
Number, at the end of period | 10,000,000 | ||
Amount, at the end of period | ¥ 1,009,992 |
Surplus reserves (Detail)
Surplus reserves (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Surplus reserves | ||
Surplus reserves | ¥ 8,140,030 | ¥ 8,140,030 |
Provision made for statutory surplus reserve | 0 | |
Provision made to discretionary surplus reserve | ¥ 0 | ¥ 0 |
Statutory Surplus Reserve Percentage | 50.00% |
Surplus reserves (Disclosure of
Surplus reserves (Disclosure of retained earnings) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of information of retained earnings [line items] | ||
Retained earnings | ¥ 32,164,398 | ¥ 33,677,466 |
The Company | ||
Disclosure of information of retained earnings [line items] | ||
Retained earnings | 32,089,000 | |
PRC GAAP | ||
Disclosure of information of retained earnings [line items] | ||
Retained earnings | 31,248,000 | |
PRC GAAP | The Company | ||
Disclosure of information of retained earnings [line items] | ||
Retained earnings | ¥ 35,911,000 |
Dividends of ordinary shares _2
Dividends of ordinary shares and cumulative distribution of other equity instruments (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands | Mar. 23, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Dividends of ordinary shares and cumulative distribution of other equity instruments [line items] | ||||
Proposed cash dividend per share | ¥ 0.18 | ¥ 0.135 | ¥ 0.1 | |
Total cash dividend | ¥ 2,826,000 | ¥ 2,119,000 | ¥ 1,570,000 | |
Profit | ¥ 2,610,563 | 1,108,205 | 1,329,974 | |
Cumulative distribution of other equity instruments | 1,436,117 | 617,662 | 333,503 | |
Other equity instruments. | ||||
Dividends of ordinary shares and cumulative distribution of other equity instruments [line items] | ||||
Profit | 1,770,469 | 685,922 | 342,349 | |
Cumulative distribution of other equity instruments | ¥ 1,436,117 | ¥ 617,662 | ¥ 333,503 |
Long-term loans (Detail)
Long-term loans (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of long-term loans [line items] | ||
Long-term loans | ¥ 131,885,708 | ¥ 134,022,712 |
Less: Current portion of long-term loans | 19,808,313 | 18,658,114 |
Non-current portion | 112,077,395 | 115,364,598 |
Huaneng Group and its subsidiaries | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 7,031,664 | 5,403,574 |
Less: Current portion of long-term loans | 619,570 | 809,749 |
Non-current portion | 6,412,094 | 4,593,825 |
Bank loans and other loans [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 124,854,044 | 128,619,138 |
Less: Current portion of long-term loans | 19,188,743 | 17,848,365 |
Non-current portion | ¥ 105,665,301 | ¥ 110,770,773 |
Long-term loans (Loans from Hua
Long-term loans (Loans from Huaneng Group and its subsidiaries) (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2020USD ($) | |
Disclosure of long-term loans [line items] | |||
Long-term loans | ¥ 131,885,708 | ¥ 134,022,712 | |
Less: Current portion of long-term loans | 19,808,313 | 18,658,114 | |
Non-current portion | 112,077,395 | 115,364,598 | |
Huaneng Group and its subsidiaries | |||
Disclosure of long-term loans [line items] | |||
Long-term loans | 7,031,664 | 5,403,574 | |
Less: Current portion of long-term loans | 619,570 | 809,749 | |
Non-current portion | 6,412,094 | 4,593,825 | |
Huaneng Group | Unsecured | RMB | Variable rate | |||
Disclosure of long-term loans [line items] | |||
Long-term loans | 666,190 | 665,225 | |
Less: Current portion of long-term loans | 24,530 | 0 | |
Non-current portion | ¥ 641,660 | ¥ 665,225 | |
Annual interest rate | 4.75 | 4.75 | |
Huaneng Finance | Unsecured | RMB | Variable rate | |||
Disclosure of long-term loans [line items] | |||
Long-term loans | ¥ 4,281,432 | ¥ 3,808,800 | |
Less: Current portion of long-term loans | 468,800 | 413,200 | |
Non-current portion | ¥ 3,812,632 | ¥ 3,395,600 | |
Annual interest rate | 3.67%-4.80 | 4.28%-4.75 | |
Huaneng Finance | Unsecured | RMB | Fixed rate | |||
Disclosure of long-term loans [line items] | |||
Long-term loans | ¥ 317,515 | ¥ 28,000 | |
Less: Current portion of long-term loans | 26,200 | 0 | |
Non-current portion | ¥ 291,315 | ¥ 28,000 | |
Annual interest rate | 4.02%-4.75% | 4.51%-4.61 | |
Tiancheng Financial Leasing | Secured | RMB | Variable rate | |||
Disclosure of long-term loans [line items] | |||
Long-term loans | ¥ 633,258 | ¥ 580,891 | |
Less: Current portion of long-term loans | 100,040 | 246,549 | |
Non-current portion | ¥ 533,218 | ¥ 334,342 | |
Annual interest rate | 4.42%-5.20% | 4.42%-5.20 | |
Tiancheng Financial Leasing | Secured | RMB | Fixed rate | |||
Disclosure of long-term loans [line items] | |||
Long-term loans | ¥ 89,060 | ¥ 320,658 | |
Less: Current portion of long-term loans | 150,000 | ||
Non-current portion | ¥ 89,060 | ¥ 170,658 | |
Annual interest rate | 5.10 | 5.10%-6.60 | |
Hong Kong Asset Management Co., Ltd | Unsecured | US$ | Variable rate | |||
Disclosure of long-term loans [line items] | |||
Long-term loans | ¥ 1,044,209 | $ 160,035 | |
Non-current portion | ¥ 1,044,209 | ||
Annual interest rate | 2.30 |
Long-term loans (Bank loans and
Long-term loans (Bank loans and other loans) (Detail) € in Thousands, ¥ in Thousands, ¥ in Thousands, $ in Thousands, $ in Thousands | 12 Months Ended | ||||||||
Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2020SGD ($) | Dec. 31, 2020EUR (€) | Dec. 31, 2020JPY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019EUR (€) | Dec. 31, 2019JPY (¥) | |
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | ¥ 131,885,708 | ¥ 134,022,712 | |||||||
Less: Current portion of long-term loans | 19,808,313 | 18,658,114 | |||||||
Non-current portion | 112,077,395 | 115,364,598 | |||||||
Bank loans and other loans [member] | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | 124,854,044 | 128,619,138 | |||||||
Less: Current portion of long-term loans | 19,188,743 | 17,848,365 | |||||||
Non-current portion | 105,665,301 | 110,770,773 | |||||||
Bank loans and other loans [member] | Secured | RMB | Fixed rate | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | 302,677 | 5,032,030 | |||||||
Less: Current portion of long-term loans | 1,262,520 | ||||||||
Non-current portion | ¥ 302,677 | ¥ 3,769,510 | |||||||
Annual interest rate | 4.66% | 4.41%-4.90% | |||||||
Bank loans and other loans [member] | Secured | RMB | Variable rate | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | ¥ 9,136,041 | ¥ 4,528,406 | |||||||
Less: Current portion of long-term loans | 1,242,992 | 521,689 | |||||||
Non-current portion | ¥ 7,893,049 | ¥ 4,006,717 | |||||||
Annual interest rate | 4.10%-4.98% | 4.28%-4.90% | |||||||
Bank loans and other loans [member] | Secured | S$ | Variable rate | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | ¥ 596,693 | ¥ 410,658 | $ 120,999 | $ 79,371 | |||||
Less: Current portion of long-term loans | 14,119 | ||||||||
Non-current portion | ¥ 582,574 | ¥ 410,658 | |||||||
Annual interest rate | 1.42% | 2.93% | |||||||
Bank loans and other loans [member] | Unsecured | RMB | Fixed rate | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | ¥ 2,805,767 | ¥ 7,477,712 | |||||||
Less: Current portion of long-term loans | 316,715 | 1,803,335 | |||||||
Non-current portion | ¥ 2,489,052 | ¥ 5,674,377 | |||||||
Annual interest rate | 4.02%-5.39% | 2.65%-5.39% | |||||||
Bank loans and other loans [member] | Unsecured | RMB | Variable rate | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | ¥ 96,118,275 | ¥ 88,504,897 | |||||||
Less: Current portion of long-term loans | 16,355,517 | 12,691,426 | |||||||
Non-current portion | ¥ 79,762,758 | ¥ 75,813,471 | |||||||
Annual interest rate | 1.80%-6.55% | 1.80%-6.55% | |||||||
Bank loans and other loans [member] | Unsecured | US$ | Variable rate | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | ¥ 8,609,627 | ¥ 9,974,968 | $ 1,319,503 | 1,430,672 | |||||
Less: Current portion of long-term loans | 1,217,769 | 1,095,931 | |||||||
Non-current portion | ¥ 7,391,858 | ¥ 8,879,037 | |||||||
Annual interest rate | 1.42%-4.73% | 2.90%-6.82% | |||||||
Bank loans and other loans [member] | Unsecured | S$ | Variable rate | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | ¥ 7,053,310 | ¥ 12,417,684 | $ 1,430,286 | $ 2,400,063 | |||||
Less: Current portion of long-term loans | 431,622 | ||||||||
Non-current portion | ¥ 7,053,310 | ¥ 11,986,062 | |||||||
Annual interest rate | 1.85% | 3.33% | |||||||
Bank loans and other loans [member] | Unsecured | EUR | Fixed rate | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | ¥ 88,322 | ¥ 120,760 | € 11,004 | € 15,451 | |||||
Less: Current portion of long-term loans | 34,654 | 34,772 | |||||||
Non-current portion | ¥ 53,668 | ¥ 85,988 | |||||||
Annual interest rate | 2.00%-2.15% | 2.00%-2.15% | |||||||
Bank loans and other loans [member] | Unsecured | JPY | Fixed rate | |||||||||
Disclosure of long-term loans [line items] | |||||||||
Long-term loans | ¥ 143,332 | ¥ 152,023 | ¥ 2,266,468 | ¥ 2,372,009 | |||||
Less: Current portion of long-term loans | 6,977 | 7,070 | |||||||
Non-current portion | ¥ 136,355 | ¥ 144,953 | |||||||
Annual interest rate | 0.75% | 0.75% |
Long-term loans (Narrative) (De
Long-term loans (Narrative) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of long-term loans [line items] | ||
Long-term loans | ¥ 131,885,708 | ¥ 134,022,712 |
Long-term loans of overseas subsidiaries guaranteed by the company | 3,921,000 | 0 |
HIPDC [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | 2,014,800 | |
Huaneng Group | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | ¥ 1,407,338 | 2,335,611 |
Huaneng Group | Loans guaranteed by Huaneng Group, China Export & Credit Insurance Corporation and Shandong Ruyi Technology Group [member] | ||
Disclosure of long-term loans [line items] | ||
Liability ratios (as a percent) | 17.50% | |
China Export & Credit Insurance Corporation | Loans guaranteed by Huaneng Group, China Export & Credit Insurance Corporation and Shandong Ruyi Technology Group [member] | ||
Disclosure of long-term loans [line items] | ||
Liability ratios (as a percent) | 65.00% | |
Shandong Ruyi Technology Group | Loans guaranteed by Huaneng Group, China Export & Credit Insurance Corporation and Shandong Ruyi Technology Group [member] | ||
Disclosure of long-term loans [line items] | ||
Liability ratios (as a percent) | 17.50% | |
Shandong Ruyi Technology Group | Loans guaranteed by Shandong Power and Shandong Ruyi Technology Group [member] | ||
Disclosure of long-term loans [line items] | ||
Liability ratios (as a percent) | 50.00% | |
Shandong Power | Loans guaranteed by Shandong Power and Shandong Ruyi Technology Group [member] | ||
Disclosure of long-term loans [line items] | ||
Liability ratios (as a percent) | 50.00% | |
Secured | ||
Disclosure of long-term loans [line items] | ||
Net book value of property, plant and equipment | ¥ 3,400,000 | 4,913,000 |
Long-term loans of overseas subsidiaries guaranteed by the company | 7,053,000 | 12,418,000 |
Secured | HIPDC [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | 15,000 | |
Secured | Huaneng Group, China Export & Credit Insurance Corporation and Shandong Ruyi Technology Group | Loans guaranteed by Huaneng Group, China Export & Credit Insurance Corporation and Shandong Ruyi Technology Group [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | 7,581,000 | 8,435,000 |
Secured | Huaneng Group | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | 81,000 | 110,000 |
Secured | Other subsidiaries of the Company and Yangguang Jiedi Investment Co., Ltd | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | 1,731,000 | 1,972,000 |
Secured | Yangguang Jiedi Investment Co., Ltd | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | 67,000 | 75,000 |
Secured | Shandong Lineng Group Co., Ltd | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | 50,000 | 100,000 |
Secured | Enshi Finance Bureau of Hubei Province | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | 143,000 | 152,000 |
Secured | Shandong Power and Shandong Ruyi Technology Group | Loans guaranteed by Shandong Power and Shandong Ruyi Technology Group [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans guaranteed by Huaneng Group or other third parties | 1,044,000 | 0 |
Secured | Future electricity revenue [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 7,435,000 | 7,287,000 |
Secured | Property, plant and equipment [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 3,322,000 | 3,586,000 |
Net book value of property, plant and equipment | 347,000 | |
Tiancheng Financial Leasing | ||
Disclosure of long-term loans [line items] | ||
Nominal price of buy back when lease term expires | 1 | |
Net book value of property, plant and equipment | 1,036,000 | 1,955,000 |
Tiancheng Financial Leasing | Property, plant and equipment [member] | ||
Disclosure of long-term loans [line items] | ||
Net book value of property, plant and equipment | 722,000 | 902,000 |
Other financial leasing companies [member] | ||
Disclosure of long-term loans [line items] | ||
Net book value of property, plant and equipment | 2,364,000 | 2,958,000 |
Other financial leasing companies [member] | Property, plant and equipment [member] | ||
Disclosure of long-term loans [line items] | ||
Net book value of property, plant and equipment | ¥ 2,600,000 | ¥ 2,684,000 |
Long-term loans (Maturity of lo
Long-term loans (Maturity of long-term loans) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of long-term loans [line items] | ||
Long-term loans | ¥ 131,885,708 | ¥ 134,022,712 |
Less: amount due within 1 year included under current liabilities | 19,808,313 | 18,658,114 |
Long-term loans | 112,077,395 | 115,364,598 |
Huaneng Group and its subsidiaries | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 7,031,664 | 5,403,574 |
Less: amount due within 1 year included under current liabilities | 619,570 | 809,749 |
Long-term loans | 6,412,094 | 4,593,825 |
Bank loans and other loans [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 124,854,044 | 128,619,138 |
Less: amount due within 1 year included under current liabilities | 19,188,743 | 17,848,365 |
Long-term loans | 105,665,301 | 110,770,773 |
Within 1 year | Huaneng Group and its subsidiaries | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 619,570 | 809,749 |
Within 1 year | Bank loans and other loans [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 19,188,743 | 17,848,365 |
Between 1 to 2 years | Huaneng Group and its subsidiaries | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 826,059 | 1,320,611 |
Between 1 to 2 years | Bank loans and other loans [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 13,718,115 | 28,426,578 |
Between 2 to 3 years | Huaneng Group and its subsidiaries | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 2,799,377 | 1,583,453 |
Between 2 to 3 years | Bank loans and other loans [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 45,708,377 | 48,138,639 |
After 5 years | Huaneng Group and its subsidiaries | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | 2,786,658 | 1,689,761 |
After 5 years | Bank loans and other loans [member] | ||
Disclosure of long-term loans [line items] | ||
Long-term loans | ¥ 46,238,809 | ¥ 34,205,556 |
Long-term bonds (Outstanding co
Long-term bonds (Outstanding corporate bonds, medium-term notes and debt financing instrument of the Group) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 48,000,000 | |
Issue Price | 29,000,000 | |
Interest | 76,428 | |
Long-term bonds of overseas subsidiaries guaranteed by the company | 3,921,000 | ¥ 0 |
Long-term bonds [member] | ||
Disclosure of long-term bonds [line items] | ||
Issue Price | 35,517,730 | 35,300,000 |
Balance as at the end of last year | 31,286,923 | 29,978,142 |
Issued Amount | 4,217,730 | 5,300,000 |
Interest | 1,507,962 | 1,439,099 |
Amortization | (17,939) | 8,781 |
Repayment | (2,800,000) | (4,000,000) |
Foreign Exchange Gain | (46,320) | |
Foreign Currency Transition Differences | (258,936) | |
Interest Payable | 679,458 | |
Balance as at the end of year | 33,060,916 | 31,286,923 |
2014 medium-term notes (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 4,000,000 | |
Issuance Date | July 2014 | |
Initial Period | 5 years | |
Initial Distribution Rate | 5.30% | |
Effective Rate | 5.37% | |
Issue Price | ¥ 4,000,000 | |
Balance as at the end of last year | 3,993,479 | |
Interest | 112,679 | |
Amortization | 6,521 | |
Repayment | (4,000,000) | |
2016 corporate bonds (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 3,000,000 | ¥ 3,000,000 |
Issuance Date | June 2016 | June 2016 |
Initial Period | 5 years | 5 years |
Initial Distribution Rate | 3.48% | 3.48% |
Effective Rate | 3.48% | 3.48% |
Issue Price | ¥ 3,000,000 | ¥ 3,000,000 |
Balance as at the end of last year | 3,000,072 | 3,000,010 |
Interest | 104,400 | 104,400 |
Amortization | 62 | 62 |
Interest Payable | 57,778 | |
Balance as at the end of year | 3,057,912 | 3,000,072 |
2016 corporate bonds (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 1,200,000 | ¥ 1,200,000 |
Issuance Date | June 2016 | June 2016 |
Initial Period | 10 years | 10 years |
Initial Distribution Rate | 3.98% | 3.98% |
Effective Rate | 3.98% | 3.98% |
Issue Price | ¥ 1,200,000 | ¥ 1,200,000 |
Balance as at the end of last year | 1,199,985 | 1,199,973 |
Interest | 47,760 | 47,760 |
Amortization | 12 | 12 |
Interest Payable | 26,432 | |
Balance as at the end of year | 1,226,429 | 1,199,985 |
2017 medium-term notes (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 5,000,000 | ¥ 5,000,000 |
Issuance Date | July 2017 | July 2017 |
Initial Period | 5 years | 5 years |
Initial Distribution Rate | 4.69% | 4.69% |
Effective Rate | 4.90% | 4.90% |
Issue Price | ¥ 5,000,000 | ¥ 5,000,000 |
Balance as at the end of last year | 5,001,878 | 5,000,939 |
Interest | 234,500 | 234,500 |
Amortization | 965 | 939 |
Interest Payable | 111,146 | |
Balance as at the end of year | 5,113,989 | 5,001,878 |
2017 debt financing instrument (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 500,000 | ¥ 500,000 |
Issuance Date | July 2017 | July 2017 |
Initial Period | 3 years | 3 years |
Initial Distribution Rate | 4.75% | 4.75% |
Effective Rate | 4.81% | 4.81% |
Issue Price | ¥ 500,000 | ¥ 500,000 |
Balance as at the end of last year | 499,846 | 499,563 |
Interest | 23,750 | 23,750 |
Amortization | 154 | 283 |
Repayment | (500,000) | |
Balance as at the end of year | 499,846 | |
2017 corporate bonds (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 2,300,000 | ¥ 2,300,000 |
Issuance Date | November 2017 | November 2017 |
Initial Period | 3 years | 3 years |
Initial Distribution Rate | 4.99% | 4.99% |
Effective Rate | 4.99% | 4.99% |
Issue Price | ¥ 2,300,000 | ¥ 2,300,000 |
Balance as at the end of last year | 2,299,962 | 2,299,916 |
Interest | 114,770 | 114,770 |
Amortization | 38 | 46 |
Repayment | (2,300,000) | |
Balance as at the end of year | 2,299,962 | |
2020 corporate bonds (2020 12th) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 2,108,865 | |
Issuance Date | February 2020 | |
Initial Period | 5 years | |
Initial Distribution Rate | 2.25% | |
Effective Rate | 2.32% | |
Issue Price | ¥ 2,108,865 | |
Issued Amount | 2,108,865 | |
Interest | 40,838 | |
Amortization | (9,456) | |
Foreign Exchange Gain | (23,160) | |
Foreign Currency Transition Differences | (129,468) | |
Interest Payable | 16,383 | |
Balance as at the end of year | 1,963,164 | |
Super short-bond (2020 13th) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 2,108,865 | |
Issuance Date | February 2020 | |
Initial Period | 10 years | |
Initial Distribution Rate | 2.63% | |
Effective Rate | 2.72% | |
Issue Price | ¥ 2,108,865 | |
Issued Amount | 2,108,865 | |
Interest | 47,644 | |
Amortization | (17,629) | |
Foreign Exchange Gain | (23,160) | |
Foreign Currency Transition Differences | (129,468) | |
Interest Payable | 19,114 | |
Balance as at the end of year | 1,957,722 | |
2018 corporate bonds (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 1,500,000 | ¥ 1,500,000 |
Issuance Date | April 2018 | April 2018 |
Initial Period | 3 years | 3 years |
Initial Distribution Rate | 4.90% | 4.90% |
Effective Rate | 4.90% | 4.90% |
Issue Price | ¥ 1,500,000 | ¥ 1,500,000 |
Balance as at the end of last year | 1,500,040 | 1,500,010 |
Interest | 73,500 | 73,500 |
Amortization | 30 | 30 |
Interest Payable | 54,773 | |
Balance as at the end of year | 1,554,843 | 1,500,040 |
2018 medium-term notes (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 3,000,000 | ¥ 3,000,000 |
Issuance Date | May 2018 | May 2018 |
Initial Period | 3 years | 3 years |
Initial Distribution Rate | 4.80% | 4.80% |
Effective Rate | 4.91% | 4.91% |
Issue Price | ¥ 3,000,000 | ¥ 3,000,000 |
Balance as at the end of last year | 2,996,069 | 2,993,135 |
Interest | 144,000 | 144,000 |
Amortization | 2,953 | 2,934 |
Interest Payable | 96,263 | |
Balance as at the end of year | 3,095,285 | 2,996,069 |
2018 medium-term notes (2 nd) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 2,000,000 | ¥ 2,000,000 |
Issuance Date | July 2018 | July 2018 |
Initial Period | 3 years | 3 years |
Initial Distribution Rate | 4.41% | 4.41% |
Effective Rate | 4.56% | 4.56% |
Issue Price | ¥ 2,000,000 | ¥ 2,000,000 |
Balance as at the end of last year | 2,001,342 | 1,998,518 |
Interest | 88,200 | 88,200 |
Amortization | 9 | 2,824 |
Interest Payable | 42,046 | |
Balance as at the end of year | 2,043,397 | 2,001,342 |
2018 debt financing instrument (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 2,500,000 | ¥ 2,500,000 |
Issuance Date | July 2018 | July 2018 |
Initial Period | 3 years | 3 years |
Initial Distribution Rate | 4.68% | 4.68% |
Effective Rate | 4.81% | 4.81% |
Issue Price | ¥ 2,500,000 | ¥ 2,500,000 |
Balance as at the end of last year | 2,495,547 | 2,492,636 |
Interest | 117,000 | 117,000 |
Amortization | 2,929 | 2,911 |
Interest Payable | 50,967 | |
Balance as at the end of year | 2,549,443 | 2,495,547 |
2018 corporate bonds (2 nd) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 5,000,000 | ¥ 5,000,000 |
Issuance Date | September 2018 | September 2018 |
Initial Period | 10 years | 10 years |
Initial Distribution Rate | 5.05% | 5.05% |
Effective Rate | 5.05% | 5.05% |
Issue Price | ¥ 5,000,000 | ¥ 5,000,000 |
Balance as at the end of last year | 4,999,993 | 4,999,963 |
Interest | 252,500 | 252,500 |
Amortization | 30 | 30 |
Interest Payable | 78,171 | |
Balance as at the end of year | 5,078,194 | 4,999,993 |
2019 corporate bonds (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 2,300,000 | ¥ 2,300,000 |
Issuance Date | April 2019 | April 2019 |
Initial Period | 10 years | 10 years |
Initial Distribution Rate | 4.70% | 4.70% |
Effective Rate | 4.70% | 4.70% |
Issue Price | ¥ 2,300,000 | ¥ 2,300,000 |
Balance as at the end of last year | 2,299,990 | |
Issued Amount | 2,300,000 | |
Interest | 108,100 | 74,725 |
Amortization | 14 | (10) |
Interest Payable | 74,930 | |
Balance as at the end of year | 2,374,934 | 2,299,990 |
2019 corporate bonds (2 nd) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 1,000,000 | ¥ 1,000,000 |
Issuance Date | July 2019 | July 2019 |
Initial Period | 3 years | 3 years |
Initial Distribution Rate | 3.55% | 3.55% |
Effective Rate | 3.55% | 3.55% |
Issue Price | ¥ 1,000,000 | ¥ 1,000,000 |
Balance as at the end of last year | 1,000,007 | |
Issued Amount | 1,000,000 | |
Interest | 35,500 | 17,071 |
Amortization | 17 | 7 |
Interest Payable | 17,118 | |
Balance as at the end of year | 1,017,142 | 1,000,007 |
2019 medium-term notes (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 500,000 | ¥ 500,000 |
Issuance Date | July 2019 | July 2019 |
Initial Period | 3 years | 3 years |
Initial Distribution Rate | 3.55% | 3.55% |
Effective Rate | 3.65% | 3.65% |
Issue Price | ¥ 500,000 | ¥ 500,000 |
Balance as at the end of last year | 498,759 | |
Issued Amount | 500,000 | |
Interest | 17,750 | 8,051 |
Amortization | 488 | (1,241) |
Interest Payable | 8,073 | |
Balance as at the end of year | 507,320 | 498,759 |
2019 medium-term notes (1 st) [member] | ||
Disclosure of long-term bonds [line items] | ||
Face value | ¥ 1,500,000 | ¥ 1,500,000 |
Issuance Date | July 2019 | July 2019 |
Initial Period | 5 years | 5 years |
Initial Distribution Rate | 3.85% | 3.85% |
Effective Rate | 3.96% | 3.96% |
Issue Price | ¥ 1,500,000 | ¥ 1,500,000 |
Balance as at the end of last year | 1,493,433 | |
Issued Amount | 1,500,000 | |
Interest | 57,750 | 26,193 |
Amortization | 1,445 | (6,567) |
Interest Payable | 26,264 | |
Balance as at the end of year | ¥ 1,521,142 | ¥ 1,493,433 |
Other non-current liabilities_2
Other non-current liabilities (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Other non-current liabilities | ||
Government grants - Environmental subsidies | ¥ 1,102,074 | ¥ 1,155,147 |
Government grants - Other government grants | 324,325 | 306,077 |
Contract liabilities | 2,623,764 | 2,443,254 |
Other deferred income | 41,324 | 52,760 |
Others | 758,058 | 888,809 |
Subtotal | 4,849,545 | 4,846,047 |
Current portion of other non-current liabilities | (65,277) | (65,277) |
Subtotal | (65,277) | (65,277) |
Total | ¥ 4,784,268 | ¥ 4,780,770 |
Accounts payable and other li_3
Accounts payable and other liabilities (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Accounts payable and other liabilities | ||
Accounts and notes payable | ¥ 15,777,784 | ¥ 15,850,958 |
Payables to contractors for construction | 18,734,201 | 12,695,720 |
Retention payables to contractors | 1,530,764 | 1,537,024 |
Consideration payables for business acquisition (Note 39) | 22,842 | |
Others | 6,689,770 | 7,186,379 |
Total | 42,755,361 | 37,270,081 |
Notes payable secured by notes receivable | ¥ 245,000 | ¥ 89,000 |
Accounts payable and other li_4
Accounts payable and other liabilities (Carrying amounts of financial liabilities) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Carrying amounts of financial liabilities [line items] | ||
Carrying amounts of financial liabilities included in accounts payable and other liabilities | ¥ 42,755,361 | ¥ 37,270,081 |
RMB | ||
Carrying amounts of financial liabilities [line items] | ||
Carrying amounts of financial liabilities included in accounts payable and other liabilities | 40,610,454 | 34,996,912 |
S$ | ||
Carrying amounts of financial liabilities [line items] | ||
Carrying amounts of financial liabilities included in accounts payable and other liabilities | 948,817 | 1,024,453 |
US$ | ||
Carrying amounts of financial liabilities [line items] | ||
Carrying amounts of financial liabilities included in accounts payable and other liabilities | 799,989 | 940,749 |
JPY | ||
Carrying amounts of financial liabilities [line items] | ||
Carrying amounts of financial liabilities included in accounts payable and other liabilities | 12,293 | 12,564 |
EUR | ||
Carrying amounts of financial liabilities [line items] | ||
Carrying amounts of financial liabilities included in accounts payable and other liabilities | 224 | 1,194 |
PKR | ||
Carrying amounts of financial liabilities [line items] | ||
Carrying amounts of financial liabilities included in accounts payable and other liabilities | ¥ 383,584 | ¥ 294,209 |
Accounts payable and other li_5
Accounts payable and other liabilities (Ageing analysis of accounts and notes payable) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
The ageing analysis of accounts and notes payable [line items] | ||
Accounts and notes payable | ¥ 15,777,784 | ¥ 15,850,958 |
Within 1 year | ||
The ageing analysis of accounts and notes payable [line items] | ||
Accounts and notes payable | 15,514,112 | 15,435,470 |
Between 1 to 2 years | ||
The ageing analysis of accounts and notes payable [line items] | ||
Accounts and notes payable | 166,088 | 311,880 |
Over 2 years | ||
The ageing analysis of accounts and notes payable [line items] | ||
Accounts and notes payable | ¥ 97,584 | ¥ 103,608 |
Taxes payable (Detail)
Taxes payable (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Taxes payable | ||
VAT payable | ¥ 1,159,562 | ¥ 908,491 |
Income tax payable | 288,106 | 748,957 |
Others | 597,201 | 444,169 |
Total | ¥ 2,044,869 | ¥ 2,101,617 |
Short-term bonds (Detail)
Short-term bonds (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 48,000,000 | ||
Issue Price | 29,000,000 | ||
Balance as at the end of last year | 9,025,535 | ||
Issued Amount | 20,000,000 | ¥ 30,000,000 | ¥ 40,000,000 |
Interest | 76,428 | ||
Amortization | (1,087) | ||
Repayment | (24,097,999) | ||
Balance as at the end of year | 5,002,877 | 9,025,535 | |
Long-term bonds [member] | |||
Disclosure of short-term bonds [line items] | |||
Issue Price | 35,517,730 | 35,300,000 | |
Interest | 1,507,962 | 1,439,099 | |
Foreign Exchange Gain | (46,320) | ||
Foreign Currency Transition Differences | (258,936) | ||
Interest Payable | 679,458 | ||
Short-term bonds [member] | |||
Disclosure of short-term bonds [line items] | |||
Issue Price | 41,500,000 | ||
Balance as at the end of last year | 9,025,535 | 11,541,454 | |
Issued Amount | 30,000,000 | ||
Interest | 271,467 | ||
Amortization | 3,651 | ||
Repayment | (32,791,037) | ||
Balance as at the end of year | 9,025,535 | 11,541,454 | |
Super short-bond (2018 11th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,500,000 | ||
Issuance Date | October 2018 | ||
Maturity | 180 days | ||
Issue Price | ¥ 2,500,000 | ||
Coupon Rate | 3.20% | ||
Balance as at the end of last year | 0 | ¥ 2,515,816 | |
Issued Amount | 0 | ||
Interest | 23,233 | ||
Amortization | 403 | ||
Repayment | (2,539,452) | ||
Balance as at the end of year | 0 | 2,515,816 | |
Super short-bond (2018 12th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | November 2018 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 2.78% | ||
Balance as at the end of last year | 0 | ¥ 2,006,575 | |
Issued Amount | 0 | ||
Interest | 6,703 | ||
Amortization | 432 | ||
Repayment | (2,013,710) | ||
Balance as at the end of year | 0 | 2,006,575 | |
Super short-bond (2018 13th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | November 2018 | ||
Maturity | 180 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 3.10% | ||
Balance as at the end of last year | 0 | ¥ 2,006,841 | |
Issued Amount | 0 | ||
Interest | 23,781 | ||
Amortization | (47) | ||
Repayment | (2,030,575) | ||
Balance as at the end of year | 0 | 2,006,841 | |
Super short-bond (2018 14th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | November 2018 | ||
Maturity | 180 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 3.05% | ||
Balance as at the end of last year | 0 | ¥ 2,005,323 | |
Issued Amount | 0 | ||
Interest | 23,564 | ||
Amortization | 1,195 | ||
Repayment | (2,030,082) | ||
Balance as at the end of year | 0 | 2,005,323 | |
Super short-bond (2018 15th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | November 2018 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 2.78% | ||
Balance as at the end of last year | 0 | ¥ 2,004,557 | |
Issued Amount | 0 | ||
Interest | 8,531 | ||
Amortization | 622 | ||
Repayment | (2,013,710) | ||
Balance as at the end of year | 0 | 2,004,557 | |
Super short-bond (2018 16th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 1,000,000 | ||
Issuance Date | December 2018 | ||
Maturity | 270 days | ||
Issue Price | ¥ 1,000,000 | ||
Coupon Rate | 3.30% | ||
Balance as at the end of last year | 0 | ¥ 1,002,342 | |
Issued Amount | 0 | ||
Interest | 22,060 | ||
Amortization | 9 | ||
Repayment | (1,024,411) | ||
Balance as at the end of year | 0 | 1,002,342 | |
Super short-bond (2019 1st) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | March 2019 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 2.40% | ||
Balance as at the end of last year | 0 | ¥ 0 | |
Issued Amount | 2,000,000 | ||
Interest | 11,803 | ||
Amortization | 0 | ||
Repayment | (2,011,803) | ||
Balance as at the end of year | 0 | 0 | |
Super short-bond (2019 2nd) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 5,000,000 | ||
Issuance Date | May 2019 | ||
Maturity | 180 days | ||
Issue Price | ¥ 5,000,000 | ||
Coupon Rate | 2.30% | ||
Balance as at the end of last year | 0 | ¥ 0 | |
Issued Amount | 5,000,000 | ||
Interest | 56,557 | ||
Amortization | 0 | ||
Repayment | (5,056,557) | ||
Balance as at the end of year | 0 | 0 | |
Super short-bond (2019 3rd) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | May 2019 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 2.30% | ||
Balance as at the end of last year | 0 | ¥ 0 | |
Issued Amount | 2,000,000 | ||
Interest | 11,311 | ||
Amortization | 0 | ||
Repayment | (2,011,311) | ||
Balance as at the end of year | 0 | 0 | |
Super short-bond (2019 4th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | June 2019 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 2.40% | ||
Balance as at the end of last year | 0 | ¥ 0 | |
Issued Amount | 2,000,000 | ||
Interest | 11,803 | ||
Amortization | 0 | ||
Repayment | (2,011,803) | ||
Balance as at the end of year | 0 | 0 | |
Super short-bond (2019 5th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | June 2019 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 2.40% | ||
Balance as at the end of last year | 0 | ¥ 0 | |
Issued Amount | 2,000,000 | ||
Interest | 11,803 | ||
Amortization | 0 | ||
Repayment | (2,011,803) | ||
Balance as at the end of year | 0 | 0 | |
Super short-bond (2019 6th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | August 2019 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 2.20% | ||
Balance as at the end of last year | 0 | ¥ 0 | |
Issued Amount | 2,000,000 | ||
Interest | 10,820 | ||
Amortization | 0 | ||
Repayment | (2,010,820) | ||
Balance as at the end of year | 0 | 0 | |
Super short-bond (2019 7th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 4,000,000 | ||
Issuance Date | September 2019 | ||
Maturity | 60 days | ||
Issue Price | ¥ 4,000,000 | ||
Coupon Rate | 2.20% | ||
Balance as at the end of last year | 0 | ¥ 0 | |
Issued Amount | 4,000,000 | ||
Interest | 14,426 | ||
Amortization | 0 | ||
Repayment | (4,014,426) | ||
Balance as at the end of year | 0 | 0 | |
Super short-bond (2019 8th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | September 2019 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 2.15% | ||
Balance as at the end of last year | 0 | ¥ 0 | |
Issued Amount | 2,000,000 | ||
Interest | 10,574 | ||
Amortization | 0 | ||
Repayment | (2,010,574) | ||
Balance as at the end of year | 0 | 0 | |
Super short-bond (2019 9th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 5,000,000 | ¥ 5,000,000 | |
Issuance Date | October 2019 | October 2019 | |
Maturity | 180 days | 180 days | |
Issue Price | ¥ 5,000,000 | ¥ 5,000,000 | |
Coupon Rate | 2.09% | 2.09% | |
Balance as at the end of last year | ¥ 5,018,170 | ¥ 0 | |
Issued Amount | 5,000,000 | ||
Interest | 33,977 | 17,416 | |
Amortization | (754) | 754 | |
Repayment | (5,051,393) | 0 | |
Balance as at the end of year | 5,018,170 | 0 | |
Super short-bond (2019 10th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ¥ 2,000,000 | |
Issuance Date | November 2019 | November 2019 | |
Maturity | 90 days | 90 days | |
Issue Price | ¥ 2,000,000 | ¥ 2,000,000 | |
Coupon Rate | 2.00% | 2.00% | |
Balance as at the end of last year | ¥ 2,006,098 | ¥ 0 | |
Issued Amount | 2,000,000 | ||
Interest | 3,934 | 5,902 | |
Amortization | (196) | 196 | |
Repayment | (2,009,836) | 0 | |
Balance as at the end of year | 2,006,098 | 0 | |
Super short-bond (2019 11th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ¥ 2,000,000 | |
Issuance Date | December 2019 | December 2019 | |
Maturity | 60 days | 60 days | |
Issue Price | ¥ 2,000,000 | ¥ 2,000,000 | |
Coupon Rate | 1.80% | 1.80% | |
Balance as at the end of last year | ¥ 2,001,267 | ¥ 0 | |
Issued Amount | 2,000,000 | ||
Interest | 4,722 | 1,180 | |
Amortization | (87) | 87 | |
Repayment | (2,005,902) | 0 | |
Balance as at the end of year | ¥ 2,001,267 | ¥ 0 | |
Super short-bond (2020 1st) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | February 2020 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 1.70% | ||
Issued Amount | ¥ 2,000,000 | ||
Interest | 8,361 | ||
Repayment | (2,008,361) | ||
Super short-bond (2020 2nd) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | February 2020 | ||
Maturity | 60 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 1.50% | ||
Issued Amount | ¥ 2,000,000 | ||
Interest | 4,918 | ||
Repayment | (2,004,918) | ||
Super short-bond (2020 3rd) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | April 2020 | ||
Maturity | 60 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 1.20% | ||
Issued Amount | ¥ 2,000,000 | ||
Interest | 3,945 | ||
Repayment | (2,003,945) | ||
Super short-bond (2020 4th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | May 2020 | ||
Maturity | 90 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 1.20% | ||
Issued Amount | ¥ 2,000,000 | ||
Interest | 5,918 | ||
Repayment | (2,005,918) | ||
Super short-bond (2020 5th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | October 2020 | ||
Maturity | 30 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 1.30% | ||
Issued Amount | ¥ 2,000,000 | ||
Interest | 2,137 | ||
Repayment | (2,002,137) | ||
Super short-bond (2020 6th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | November 2020 | ||
Maturity | 30 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 1.30% | ||
Issued Amount | ¥ 2,000,000 | ||
Interest | 2,137 | ||
Repayment | (2,002,137) | ||
Super short-bond (2020 7th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 3,000,000 | ||
Issuance Date | November 2020 | ||
Maturity | 30 days | ||
Issue Price | ¥ 3,000,000 | ||
Coupon Rate | 1.40% | ||
Issued Amount | ¥ 3,000,000 | ||
Interest | 3,452 | ||
Repayment | (3,003,452) | ||
Super short-bond (2020 8th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 2,000,000 | ||
Issuance Date | December 2020 | ||
Maturity | 30 days | ||
Issue Price | ¥ 2,000,000 | ||
Coupon Rate | 1.50% | ||
Issued Amount | ¥ 2,000,000 | ||
Interest | 1,891 | ||
Amortization | 60 | ||
Balance as at the end of year | 2,001,951 | ||
Super short-bond (2020 9th) [member] | |||
Disclosure of short-term bonds [line items] | |||
Face value | ¥ 3,000,000 | ||
Issuance Date | December 2020 | ||
Maturity | 30 days | ||
Issue Price | ¥ 3,000,000 | ||
Coupon Rate | 1.40% | ||
Issued Amount | ¥ 3,000,000 | ||
Interest | 1,036 | ||
Amortization | (110) | ||
Balance as at the end of year | ¥ 3,000,926 |
Short-term loans (Detail)
Short-term loans (Detail) ¥ in Thousands, $ in Thousands | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Disclosure of short-term loans [line items] | ||||
Short-term loans | ¥ 66,311,160 | ¥ 67,119,368 | ||
Secured | RMB | Fixed rate | ||||
Disclosure of short-term loans [line items] | ||||
Short-term loans | ¥ 1,614,700 | ¥ 667,979 | ||
Annual interest rate | 2.85%-4.77% | 0.00%-4.20% | ||
Secured | RMB | Variable rate | ||||
Disclosure of short-term loans [line items] | ||||
Short-term loans | ¥ 49,455 | |||
Annual interest rate | 3.15%-3.96% | — | ||
Unsecured | RMB | Fixed rate | ||||
Disclosure of short-term loans [line items] | ||||
Short-term loans | ¥ 13,093,783 | ¥ 13,935,660 | ||
Annual interest rate | 2.15%-4.75% | 3.15%-4.35% | ||
Unsecured | RMB | Variable rate | ||||
Disclosure of short-term loans [line items] | ||||
Short-term loans | ¥ 51,441,800 | ¥ 50,948,412 | ||
Annual interest rate | 2.30%-4.37% | 3.60%-4.79% | ||
Unsecured | US$ | Fixed rate | ||||
Disclosure of short-term loans [line items] | ||||
Short-term loans | ¥ 111,422 | ¥ 1,394,304 | $ 17,076 | $ 200,000 |
Annual interest rate | 4.90% | 3.32% | ||
Unsecured | PKR | Variable rate | ||||
Disclosure of short-term loans [line items] | ||||
Short-term loans | ¥ 173,013 | $ 3,857,000 | ||
Annual interest rate | — | 14.58% |
Short-term loans (Narrative) (D
Short-term loans (Narrative) (Detail) ¥ in Thousands, ₨ in Millions, $ in Billions | 12 Months Ended | |||
Dec. 31, 2020CNY (¥) | Dec. 31, 2019CNY (¥) | Dec. 31, 2019USD ($) | Dec. 31, 2019PKR (₨) | |
Conditions of short-term loans [line items] | ||||
Short-term loans represented the notes receivable that were discounted with recourse | ¥ 1,317,000 | ¥ 659,000 | ||
Short-term loans | 66,311,160 | 67,119,368 | ||
Secured | ||||
Conditions of short-term loans [line items] | ||||
Net book value of property, plant and equipment | 3,400,000 | 4,913,000 | ||
Secured | Property, plant and equipment [member] | ||||
Conditions of short-term loans [line items] | ||||
Short-term loans | 347,000 | |||
Net book value of property, plant and equipment | 347,000 | |||
China Minsheng Banking Corp., Ltd. [member] | ||||
Conditions of short-term loans [line items] | ||||
Short-term loans | 9,000 | |||
Deposit | 1,490 | |||
Huaneng Finance | ||||
Conditions of short-term loans [line items] | ||||
Short-term loans guaranteed by related parties | ¥ 10,059,000 | ¥ 8,583,000 | ||
Annual interest rate | 3.62% to 4.75% | 3.91% to 4.35% | ||
Tiancheng Financial Leasing | ||||
Conditions of short-term loans [line items] | ||||
Net book value of property, plant and equipment | ¥ 1,036,000 | ¥ 1,955,000 | ||
Short-term loans guaranteed by related parties | ¥ 347,000 | ¥ 166,000 | ||
Annual interest rate | 4.15% to 4.77% | 4.35% | ||
Tiancheng Financial Leasing | Property, plant and equipment [member] | ||||
Conditions of short-term loans [line items] | ||||
Net book value of property, plant and equipment | ¥ 722,000 | ¥ 902,000 | ||
Hong Kong Asset Management | ||||
Conditions of short-term loans [line items] | ||||
Short-term loans guaranteed by related parties | ¥ 111,000 | 0 | ||
Annual interest rate | 4.90% | |||
Shandong Power and Ruyi Technology Group [member] | ||||
Conditions of short-term loans [line items] | ||||
Short-term loans | 173,000 | ₨ 3,860 | ||
Ruyi Pakistan Energy [member] | ||||
Conditions of short-term loans [line items] | ||||
Short-term loans | 1,567,000 | $ 0.2 | ||
Short-term loans guaranteed by related parties | ¥ 1,394,000 |
Deferred income tax assets an_3
Deferred income tax assets and liabilities (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred income tax assets and liabilities [abstract] | |||
Deferred income tax assets before offsetting | ¥ 3,607,935 | ¥ 3,844,143 | ¥ 3,903,331 |
Offset amount | (908,540) | (1,683,956) | |
Deferred income tax assets after offsetting | 2,699,395 | 2,160,187 | |
Deferred income tax liabilities before offsetting | (3,911,067) | (4,821,747) | (5,486,905) |
Offset amount | 908,540 | 1,683,956 | |
Deferred income tax liabilities after offsetting | (3,002,527) | (3,137,791) | |
Net deferred income tax assets and liabilities | ¥ (303,132) | ¥ (977,604) | ¥ (1,583,574) |
Deferred income tax assets an_4
Deferred income tax assets and liabilities (Gross movement on deferred income tax accounts) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Deferred income tax assets and liabilities [abstract] | |||
Beginning of the year | ¥ (977,604) | ¥ (1,583,574) | |
Business combination | (16,000) | ||
Disposal of other equity instrument investments | 167,182 | ||
Credited to profit or loss (Note 32) | 658,128 | 470,330 | ¥ 775,820 |
Credited/(charged) to other comprehensive income | 1,751 | (9,550) | |
Currency translation differences | 30,593 | (21,992) | |
End of the year | ¥ (303,132) | ¥ (977,604) | ¥ (1,583,574) |
Deferred income tax assets an_5
Deferred income tax assets and liabilities (Movements in deferred income tax assets without taking into consideration offsetting) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | ¥ 3,844,143 | ¥ 3,903,331 |
Business combination | 16,000 | |
(Charged)/credited to profit or loss | (231,279) | (117,972) |
(Charged)/credited to other comprehensive income | 1,319 | 55,393 |
Currency translation differences | (6,248) | 3,391 |
End of the year | 3,607,935 | 3,844,143 |
Hedging reserve [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 61,376 | 84,114 |
(Charged)/credited to other comprehensive income | (42,245) | (24,966) |
Currency translation differences | (2,121) | 2,228 |
End of the year | 17,010 | 61,376 |
Fair value gains [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 80,359 | |
(Charged)/credited to other comprehensive income | 43,564 | 80,359 |
End of the year | 123,923 | 80,359 |
Amortization of land use rights [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 12,436 | 12,929 |
(Charged)/credited to profit or loss | (493) | (493) |
End of the year | 11,943 | 12,436 |
Provision for impairment loss [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 818,940 | 638,589 |
(Charged)/credited to profit or loss | (84,470) | 179,661 |
Currency translation differences | (423) | 690 |
End of the year | 734,047 | 818,940 |
Depreciation [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 840,535 | 926,557 |
Business combination | 16,000 | |
(Charged)/credited to profit or loss | 107,634 | (86,022) |
End of the year | 948,169 | 840,535 |
Accrued expenses [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 75,987 | 56,017 |
(Charged)/credited to profit or loss | (2,439) | 19,970 |
End of the year | 73,548 | 75,987 |
VAT refunds on purchases of domestically manufactured equipment [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 128,710 | 154,143 |
(Charged)/credited to profit or loss | (25,424) | (25,433) |
End of the year | 103,286 | 128,710 |
Unused tax losses [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 549,759 | 774,677 |
(Charged)/credited to profit or loss | (146,025) | (224,918) |
End of the year | 403,734 | 549,759 |
Lease liabilities [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 965 | |
(Charged)/credited to profit or loss | 1,845 | 965 |
End of the year | 2,810 | 965 |
Others [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | 1,275,076 | 1,256,305 |
(Charged)/credited to profit or loss | (81,907) | 18,298 |
Currency translation differences | (3,704) | 473 |
End of the year | ¥ 1,189,465 | ¥ 1,275,076 |
Deferred income tax assets an_6
Deferred income tax assets and liabilities (Movements in deferred income tax liabilities without taking into consideration offsetting) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | ¥ (4,821,747) | ¥ (5,486,905) |
Disposal of other equity instrument investments | 167,182 | |
Business combination | 16,000 | |
Credited/(charged) to profit or loss | 889,407 | 588,302 |
Charged to other comprehensive income | 432 | (64,943) |
Currency translation differences | 36,841 | (25,383) |
End of the year | (3,911,067) | (4,821,747) |
Fair value gains [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | (6,731) | (108,970) |
Disposal of other equity instrument investments | 167,182 | |
Charged to other comprehensive income | 432 | (64,943) |
End of the year | (6,299) | (6,731) |
Amortization of land use rights [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | (946,676) | (982,445) |
Credited/(charged) to profit or loss | 40,728 | 36,507 |
Currency translation differences | (702) | (738) |
End of the year | (906,650) | (946,676) |
Depreciation [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | (2,997,191) | (3,407,818) |
Business combination | 16,000 | |
Credited/(charged) to profit or loss | 833,864 | 412,408 |
Currency translation differences | 4,483 | (1,781) |
End of the year | (2,174,844) | (2,997,191) |
Power generation licence [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | (705,407) | (682,543) |
Currency translation differences | 33,060 | (22,864) |
End of the year | (672,347) | (705,407) |
Mining rights [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | (129,383) | (129,383) |
End of the year | (129,383) | (129,383) |
Territorial water use right [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | (2,409) | (2,409) |
End of the year | (2,409) | (2,409) |
Right of use assets [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | (120) | |
Credited/(charged) to profit or loss | (4,659) | (120) |
End of the year | (4,779) | (120) |
Others [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Beginning of the year | (33,830) | (173,337) |
Credited/(charged) to profit or loss | 19,474 | 139,507 |
End of the year | ¥ (14,356) | ¥ (33,830) |
Deferred income tax assets an_7
Deferred income tax assets and liabilities (Narrative) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of deferred income tax assets and liabilities [line items] | ||
Deferred tax liabilities | ¥ 3,002,527 | ¥ 3,137,791 |
Temporary differences, interest in equity method investees [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Taxable temporary differences | 5,040,000 | 4,040,000 |
Deferred tax liabilities | 0 | 0 |
Temporary differences, undistributed profit of wholly-owned foreign subsidiaries [member] | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
Taxable temporary differences | 2,120,000 | 2,220,000 |
Deferred tax liabilities | ¥ 0 | ¥ 0 |
Deferred income tax assets an_8
Deferred income tax assets and liabilities (Unrecognised deferred income tax assets in respect of certain deductible temporary differences and accumulated tax losses) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Deferred income tax assets and liabilities [abstract] | ||
Deductible temporary differences | ¥ 14,885,723 | ¥ 9,832,527 |
Unused tax losses | 10,917,409 | 10,504,590 |
Total | ¥ 25,803,132 | ¥ 20,337,117 |
Deferred income tax assets an_9
Deferred income tax assets and liabilities (Summarized information of expiry dates of tax losses) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of deferred income tax assets and liabilities [line items] | ||
The tax losses | ¥ 10,917,409 | ¥ 10,504,590 |
Within 1 year | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
The tax losses | 1,400,289 | 1,452,554 |
Between 1 to 2 years | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
The tax losses | 2,124,756 | 1,420,522 |
Between 2 to 3 years | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
The tax losses | 2,421,087 | 2,208,635 |
After 3 years but within 4 years | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
The tax losses | 2,966,842 | 2,472,090 |
After 4 years but within 5 years | ||
Disclosure of deferred income tax assets and liabilities [line items] | ||
The tax losses | ¥ 2,004,435 | ¥ 2,950,789 |
Additional financial informat_2
Additional financial information to consolidated statement of financial position (Detail) - CNY (¥) ¥ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Additional financial information to consolidated statement of financial position | ||
Net current liabilities | ¥ 87,910 | ¥ 80,839 |
Total assets less current liabilities | ¥ 295,857 | ¥ 286,630 |
Income tax expense (Detail)
Income tax expense (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income tax expense | |||
Current income tax expense | ¥ 2,821,301 | ¥ 2,481,585 | ¥ 1,418,993 |
Deferred income tax (Note 30) | (658,128) | (470,330) | (775,820) |
Total | ¥ 2,163,173 | ¥ 2,011,255 | ¥ 643,173 |
Income tax expense (Narrative)
Income tax expense (Narrative) (Detail) - CNY (¥) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Detail of income tax expense [line items] | |||
Profits tax | ¥ 2,163,173,000 | ¥ 2,011,255,000 | ¥ 643,173,000 |
Estimated assessable profits | ¥ 0 | ¥ 0 | |
Enterprise Income Tax Rate | 25.00% | 25.00% | 25.00% |
HONG KONG | |||
Detail of income tax expense [line items] | |||
Profits tax | ¥ 0 | ||
Estimated assessable profits | ¥ 0 | ||
PRC | |||
Detail of income tax expense [line items] | |||
Enterprise Income Tax Rate | 25.00% | 25.00% | 25.00% |
SINGAPORE | |||
Detail of income tax expense [line items] | |||
Enterprise Income Tax Rate | 17.00% | 17.00% | 17.00% |
PAKISTAN | Maintenance services [member] | |||
Detail of income tax expense [line items] | |||
Income tax | at the highest of (i) normal tax at the rate of 29% of taxable income; (ii) Alternative Corporate Tax (ACT) at the rate of 17% of accounting profit; and (iii) minimum tax deductible at 8% of the revenue. | ||
Income tax carried forward to subsequent years for settlement against the liabilities of following years | the income tax calculated is above normal tax at the rate of 29% | ||
Carry forward time period | 5 years in case of minimum tax and 10 years in case of ACT |
Income tax expense - Reconcilia
Income tax expense - Reconciliation of effective income tax rate from notional income tax rate (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income tax expense | |||
PRC statutory enterprise income tax rate | 25.00% | 25.00% | 25.00% |
Effect of different tax rates of certain subsidiaries | (13.88%) | (7.33%) | (3.56%) |
Utilisation of previously unrecognized tax losses and deductible temporary differences | (5.50%) | (6.00%) | (2.66%) |
Unrecognized tax losses for the year | 12.99% | 27.76% | 29.49% |
Unrecognized deductible temporary differences | 26.17% | 34.68% | 5.92% |
Effect of non-taxable income | (9.34%) | (10.44%) | (28.53%) |
Effect of non-deductible expenses | 8.70% | 3.18% | 11.22% |
Others | 1.17% | (2.38%) | (4.27%) |
Effective tax rate | 45.31% | 64.47% | 32.61% |
Earnings per share (Detail)
Earnings per share (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands | 12 Months Ended | 24 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2017 | |
Earnings per share | |||||
Consolidated net profit attributable to equity holders of the Company | ¥ 2,377,851 | ¥ 766,345 | ¥ 734,435 | ||
Less: cumulative distribution of other equity instruments | 1,770,469 | 685,922 | 342,349 | ||
Consolidated net profit attributable to ordinary shareholders of the Company | ¥ 607,382 | ¥ 80,423 | ¥ 392,086 | ||
Weighted average number of the Company's outstanding ordinary shares ('000) | 15,698,093,000 | 15,698,093,000 | 15,283,335,000 | ||
Basic and diluted earnings per share (RMB) | ¥ 0.04 | ¥ 0.01 | ¥ 0.03 | ||
Weighted average number of ordinary shares: | |||||
Issued ordinary shares at the beginning of the year | 15,698,093,359 | 15,698,093,359 | 15,698,093,359 | 15,698,093,359 | 15,200,383,000 |
Effect of share issue | 0 | 0 | 82,952,000 | ||
Weighted average number of ordinary shares at the end of the year | 15,698,093,000 | 15,698,093,000 | 15,283,335,000 | ||
Dilutive effect on earnings per share | ¥ 0 | ¥ 0 | ¥ 0 | ||
Dilutive potential ordinary | 0 | 0 | 0 |
Notes to the consolidated sta_2
Notes to the consolidated statement of cash flows (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Notes to the consolidated statement of cash flows | ||||
Total bank balances and cash | ¥ 13,871,523 | ¥ 13,306,139 | ¥ 15,832,788 | |
Add: Cash and cash equivalents transferred to disposal group | 15,104 | |||
Less: Restricted cash | 613,631 | 862,881 | 430,210 | |
Cash and cash equivalents as at year end | ¥ 13,257,892 | ¥ 12,443,258 | ¥ 15,417,682 | ¥ 9,282,390 |
Notes to the consolidated sta_3
Notes to the consolidated statement of cash flows (Currencies of bank balances and cash denominated) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Currencies of bank balances and cash denominated [line items] | |||
Bank balances and cash | ¥ 13,871,523 | ¥ 13,306,139 | ¥ 15,832,788 |
Non-cash additions to right-of-use assets | 2,053,000 | ||
Non-cash additions to lease liabilities | 2,053,000 | 2,234,000 | 2,234,000 |
RMB | |||
Currencies of bank balances and cash denominated [line items] | |||
Bank balances and cash | 12,200,948 | 10,649,660 | 14,389,435 |
S$ | |||
Currencies of bank balances and cash denominated [line items] | |||
Bank balances and cash | 776,703 | 1,243,481 | 927,395 |
US$ | |||
Currencies of bank balances and cash denominated [line items] | |||
Bank balances and cash | 462,560 | 716,233 | 482,666 |
Others [member] | |||
Currencies of bank balances and cash denominated [line items] | |||
Bank balances and cash | ¥ 431,312 | ¥ 696,765 | ¥ 33,292 |
Notes to the consolidated sta_4
Notes to the consolidated statement of cash flows (Changes in group's liabilities from financing activities) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
ifrs Loans [Member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
The group's liabilities from financing activities at the beginning of the year | ¥ 201,142,080 | ¥ 211,207,782 | ¥ 205,380,764 |
The group's liabilities from financing activities at the beginning of the year (restated) | 211,207,782 | ||
(a) Business combination | 878,997 | 9,418 | 11,983,707 |
(b) Changes from financing cash flows: | |||
Proceeds from loans | 168,677,805 | 119,800,321 | 126,001,437 |
Repayment of loans | (171,947,870) | (130,703,965) | (132,293,601) |
Interest paid | (7,976,843) | ||
Others | (20,466) | ||
(c) Exchange adjustments | (847,434) | 811,524 | 415,219 |
(d) Other changes: | |||
Interest expenses | 7,415,824 | ||
Capitalised borrowing costs | 854,309 | ||
Disposal group held for sale | (297,400) | ||
Others | 17,000 | 38,122 | |
The group's liabilities from financing activities at the end of the year | 198,196,868 | 201,142,080 | 211,207,782 |
Loans in disposal group held for sale [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
The group's liabilities from financing activities at the beginning of the year | 297,400 | ||
The group's liabilities from financing activities at the beginning of the year (restated) | 297,400 | ||
(b) Changes from financing cash flows: | |||
Proceeds from loans | 498,000 | ||
Repayment of loans | (213,400) | ||
(d) Other changes: | |||
Disposal group held for sale | (582,000) | ||
The group's liabilities from financing activities at the end of the year | 297,400 | ||
Bonds [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
The group's liabilities from financing activities at the beginning of the year | 40,312,458 | 41,519,596 | 31,059,223 |
The group's liabilities from financing activities at the beginning of the year (restated) | 41,519,596 | ||
(b) Changes from financing cash flows: | |||
Proceeds from new bonds | 24,217,730 | 35,300,000 | 54,000,000 |
Repayment of bonds | (26,800,000) | (36,500,000) | (43,500,000) |
Interest paid | (896,587) | (291,040) | (643,356) |
Others | (35,283) | (29,075) | (73,562) |
(c) Exchange adjustments | (305,256) | ||
(d) Other changes: | |||
Interest expenses | 1,582,524 | 314,280 | 686,017 |
Others | (11,793) | (1,303) | (8,726) |
The group's liabilities from financing activities at the end of the year | 38,063,793 | 40,312,458 | 41,519,596 |
Accrued interests [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
The group's liabilities from financing activities at the beginning of the year | 1,276,703 | 1,152,767 | 947,302 |
The group's liabilities from financing activities at the beginning of the year (restated) | 1,152,767 | ||
(a) Business combination | 16,798 | ||
(b) Changes from financing cash flows: | |||
Interest paid | (1,276,703) | (10,732,737) | (10,011,011) |
(c) Exchange adjustments | 2,959 | ||
(d) Other changes: | |||
Interest expenses | 10,276,865 | 9,701,316 | |
Capitalised borrowing costs | 579,808 | 495,818 | |
Disposal group held for sale | (415) | ||
The group's liabilities from financing activities at the end of the year | 1,276,703 | 1,152,767 | |
Cumulative distribution of other equity instrument [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
The group's liabilities from financing activities at the beginning of the year | 77,106 | 8,846 | |
The group's liabilities from financing activities at the beginning of the year (restated) | 8,846 | ||
(b) Changes from financing cash flows: | |||
Interest paid | (1,436,117) | (617,662) | (333,504) |
(d) Other changes: | |||
Accrued cumulative distribution of other equity instrument | 1,770,469 | 685,922 | 342,350 |
The group's liabilities from financing activities at the end of the year | 411,458 | 77,106 | 8,846 |
Finance leases payables [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
The group's liabilities from financing activities at the beginning of the year | 4,712,670 | 1,442,174 | 1,600,106 |
Effect of adoption of IFRS 16 | 774,618 | ||
The group's liabilities from financing activities at the beginning of the year (restated) | 2,216,792 | ||
(a) Business combination | 91,595 | 602,257 | 249,161 |
(b) Changes from financing cash flows: | |||
Payment of lease liabilities | (1,297,746) | (488,015) | |
Capital element of finance lease rentals paid | (549,169) | ||
Interest element of finance lease rentals paid | (87,857) | ||
(c) Exchange adjustments | (66,099) | (23,673) | (242) |
(d) Other changes: | |||
New leases | 2,201,755 | 2,233,736 | 34,911 |
Interest expenses | 202,264 | 171,573 | 99,079 |
Capitalised borrowing costs | 73,546 | ||
Early termination of lease | (348,242) | ||
Others | (87,397) | 96,185 | |
The group's liabilities from financing activities at the end of the year | 5,482,346 | 4,712,670 | 1,442,174 |
Dividends payable [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
The group's liabilities from financing activities at the beginning of the year | 1,191,036 | 1,267,833 | |
The group's liabilities from financing activities at the beginning of the year (restated) | 1,267,833 | ||
(b) Changes from financing cash flows: | |||
Dividends paid to shareholders of the Company | (2,119,243) | (1,569,809) | |
Dividends paid to Non-controlling interests of the subsidiaries | (1,702,511) | (1,436,574) | |
(d) Other changes: | |||
Dividends relating to last year | 3,325,572 | 2,929,586 | |
The group's liabilities from financing activities at the end of the year | ¥ 694,854 | 1,191,036 | 1,267,833 |
Interest rate swap contract [member] | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
The group's liabilities from financing activities at the beginning of the year | ¥ 149,117 | 130,643 | |
(b) Changes from financing cash flows: | |||
(d) Changes in fair value | 18,474 | ||
(d) Other changes: | |||
The group's liabilities from financing activities at the end of the year | ¥ 149,117 |
Notes to the consolidated sta_5
Notes to the consolidated statement of cash flows (Total cash outflow for leases) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Notes to the consolidated statement of cash flows | |||
Within financing activities | ¥ 1,297,746 | ¥ 488,015 | ¥ 637,026 |
Total | 1,297,746 | 488,015 | |
Principal portion of lease liabilities paid | ¥ 1,022,000 | ¥ 316,000 |
Related party balances and tr_3
Related party balances and transactions (Basic information of related parties) (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
Huaneng Group | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Ultimate parent company |
HIPDC [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Parent company |
Yantai Gangneng Bulk Cargo Terminal Co., Ltd. | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A joint venture of the Company |
Huaneng Anyang Thermal Power Co., Ltd. | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A joint venture of the Company |
Huaneng (Zhangzhou, Fujian) Energy Co., Ltd. | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A joint venture of the Company |
Huaneng (Tianjin) Coal Gasification Power Generation Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company and also a subsidiary of Huaneng Group |
Tiancheng Financial Leasing | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company and also a subsidiary of Huaneng Group |
Huaneng Shidao Bay Nuclear Power Development Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company and also a subsidiary of Huaneng Group |
Huaneng Xiapu Nuclear Power Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company and also a subsidiary of Huaneng Group |
Huaneng Finance | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company and also a subsidiary of Huaneng Group |
Huaneng Changjiang Environmental Protection Technology Co., Ltd. | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company and also a subsidiary of Huaneng Group |
Shanghai Leading Energy Shipping Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company and also a subsidiary of Huaneng Group |
Huaneng Supply Chain Platform Technology Co., Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Associates of the Company and also subsidiaries of Huaneng Group |
Huaneng Group Fuel Company and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Associates of the Company and also subsidiaries of Huaneng Group |
Jilin Zhanyu Wind Power Asset Management Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company |
Chongqing Huaneng Lime Company Limited [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company |
Hainan Nuclear [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company |
Yangquan Coal Industry Group Huaneng Coal Power Investment Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company |
Shanghai Time Shipping [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A joint venture of the Company |
Jiangsu Nantong Power [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A joint venture of the Company |
Suzhou Sugao Renewables Service Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company |
Huaneng Yingkou Port Limited Liability Company [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A joint venture of the Company |
Jiangyin Chengdongnan Thermal Power Co., Ltd. | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company |
Luyi Power [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A joint venture of the Company |
Beijing Changping Huaneng Training Center [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
North United Power Co., Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Shandong Electric Power Trading Center | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company |
Shandong Lu Xin Energy Investment Management Co., Ltd. | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An associate of the Company |
Huaneng Hulunbuir Energy Development Company Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Tendering Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Huaneng Ningxia Energy Company Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Huaneng Renewables Corporation Limited and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Songyuan Power Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Huaneng Nuclear Power Development Company Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Huaneng Lancangjiang Hydropower Co., Inc. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Coal Business Sector Co., Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Gansu Energy Development Company Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Baishan Coal Gangue Power Generation Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Huaneng Carbon Assets Management Company Limited [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Huaneng Qinghai Power Generation Co., Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Property Co., Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Energy & Communications Holdings Co., Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Tibet Yarlung Zangbo River Hydropower Development & Investment Company Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Xinjiang Energy Development Company Ltd. and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Capital Services and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Shaanxi Power Generation Limited and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Huaneng Group Technology Innovation Center [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Alltrust Insurance Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Xi'an Thermal and its subsidiaries [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Subsidiaries of Huaneng Group |
Great Wall Securities Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Jining Huayuan Thermal Power Co., Ltd. | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A joint venture of the Company |
Huaneng Group Clean Energy Technology Research Institute Co., Ltd. | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
China Hua Neng Group Hong Kong Limited | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Huaneng Hainan Industry Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Huaneng Integrated Industries Management Co., Ltd. [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | A subsidiary of Huaneng Group |
Huangtai #8 Power Plant | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | An investee with significant influence |
Other government-related enterprises [member] | |
Disclosure of transactions between related parties [line items] | |
Nature of relationship | Related parties of the Company |
Related party balances and tr_4
Related party balances and transactions (Related party balances) (Cash deposits in related parties) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Minimum Range | ||
Disclosure of transactions between related parties [line items] | ||
Annual interest rate | 0.35% | 0.35% |
Maximum Range | ||
Disclosure of transactions between related parties [line items] | ||
Annual interest rate | 1.49% | 1.35% |
Huaneng Finance | ||
Disclosure of transactions between related parties [line items] | ||
Savings deposit | ¥ 8,067,854 | ¥ 9,529,586 |
Related party balances and tr_5
Related party balances and transactions (Related party balances) (Balances due from related parties) (Detail) - CNY (¥) | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of transactions between related parties [line items] | ||
Due from related party | ¥ 1,358,538,000 | ¥ 1,487,762,000 |
Huaneng Group | ||
Disclosure of transactions between related parties [line items] | ||
Provision made on receivable balances from related parties | 0 | 0 |
Due from related party | 36,683,000 | 464,087,000 |
Joint ventures of the Group | ||
Disclosure of transactions between related parties [line items] | ||
Due from related party | 390,324,000 | 106,251,000 |
Subsidiaries of Huaneng Group [member] | ||
Disclosure of transactions between related parties [line items] | ||
Due from related party | 156,422,000 | 125,288,000 |
Huangtai #8 Power Plant | ||
Disclosure of transactions between related parties [line items] | ||
Due from related party | ¥ 775,109,000 | ¥ 792,136,000 |
Related party balances and tr_6
Related party balances and transactions (Related party balances) (Balances due to related parties) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of transactions between related parties [line items] | ||
Due to related party | ¥ 10,277,621 | ¥ 6,181,573 |
Huaneng Group | ||
Disclosure of transactions between related parties [line items] | ||
Due to related party | 382,571 | 285,725 |
HIPDC [member] | ||
Disclosure of transactions between related parties [line items] | ||
Due to related party | 13,788 | 13,430 |
Joint ventures of the Group | ||
Disclosure of transactions between related parties [line items] | ||
Due to related party | 150,357 | 120,153 |
Subsidiaries of Huaneng Group [member] | ||
Disclosure of transactions between related parties [line items] | ||
Due to related party | ¥ 9,730,905 | ¥ 5,762,265 |
Related party balances and tr_7
Related party balances and transactions (Related party balances) (Narrative) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of transactions between related parties [line items] | |||
Lease liabilities | ¥ 5,482,346 | ¥ 4,712,670 | ¥ 2,216,792 |
Other government-related enterprises [member] | |||
Disclosure of transactions between related parties [line items] | |||
Long-term loans (including current portion) and short-term loans | ¥ 196,900,000 | ¥ 186,800,000 |
Related party balances and tr_8
Related party balances and transactions (Related party transactions) (Procurement of goods and receiving services) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Huaneng Group | |||
Disclosure of transactions between related parties [line items] | |||
Other purchases | ¥ 415 | ¥ 570 | ¥ 506 |
HIPDC [member] | |||
Disclosure of transactions between related parties [line items] | |||
Technical services and engineering contracting services | 7 | ||
Subsidiaries of Huaneng Group [member] | |||
Disclosure of transactions between related parties [line items] | |||
Other purchases | 51,240 | 46,627 | 260 |
Technical services and engineering contracting services | 1,445,088 | 1,776,442 | 1,121,516 |
Purchase of coal and transportation services | 35,412,425 | 32,623,831 | 23,873,672 |
Purchase of equipment | 378,382 | 52,802 | 176,506 |
Purchase of heat | 45,520 | 61,080 | 69,527 |
Joint ventures of the Group | |||
Disclosure of transactions between related parties [line items] | |||
Purchase of coal and transportation services | 522,570 | 835,462 | 1,798,673 |
Entrusting other parties for power generation | 23,611 | 10,127 | |
Associates of the Group [member] | |||
Disclosure of transactions between related parties [line items] | |||
Other purchases | 529 | 36,826 | |
Technical services and engineering contracting services | ¥ 3,812 | ||
Purchase of coal and transportation services | 204,419 | 181,479 | |
Purchase of equipment | ¥ 27,241 | ¥ 38,387 |
Related party balances and tr_9
Related party balances and transactions (Related party transactions) (Sales of goods and providing services) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Huaneng Group | |||
Disclosure of transactions between related parties [line items] | |||
Service provided | ¥ 77,462 | ¥ 31,756 | ¥ 15,472 |
HIPDC [member] | |||
Disclosure of transactions between related parties [line items] | |||
Service provided | 370 | 124 | 1,067 |
Other sales | 2,534 | ||
Subsidiaries of Huaneng Group [member] | |||
Disclosure of transactions between related parties [line items] | |||
Service provided | 134,111 | 68,052 | 45,677 |
Other sales | 48,574 | 2,922 | 11,399 |
Sales of power generation quota | 3,065 | ||
Sales of goods | 637,059 | ||
Joint ventures of the Group | |||
Disclosure of transactions between related parties [line items] | |||
Service provided | 82,229 | 52,602 | 392,744 |
Other sales | ¥ 8,404 | ¥ 25,102 | 45,997 |
Huangtai #8 Power Plant | |||
Disclosure of transactions between related parties [line items] | |||
Service provided | ¥ 2,830 |
Related party balances and t_10
Related party balances and transactions (Related party transactions) (Other related party transactions) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
HIPDC [member] | |||
Disclosure of transactions between related parties [line items] | |||
Rental charge paid | ¥ 104,696 | ¥ 104,929 | ¥ 107,712 |
Subsidiaries of Huaneng Group [member] | |||
Disclosure of transactions between related parties [line items] | |||
Rental charge paid | 218,463 | 93,203 | 154,192 |
Rental income received | 1,978 | 2,400 | 3,609 |
Net loans received from/(repaid to) | 2,789,776 | (11,369) | (113,430) |
Interest expense on loans | 552,565 | 515,532 | 524,716 |
Capital injection from a subsidiary of Huaneng Group | 278,073 | 227,569 | 379,906 |
Capital injection to | 94,500 | 94,770 | 320,680 |
Pre-construction cost paid by | 90 | ||
Finance lease payments received from | 57,676 | ||
Acquisition consideration (Note 39) | 237,228 | 1,172,508 | |
Disposal consideration | 1,050 | ||
Huaneng Group | |||
Disclosure of transactions between related parties [line items] | |||
Rental charge paid | 57 | ||
Interest expense on loans | 30,306 | 30,224 | 32,037 |
Entrusted management fee | 14,370 | 12,340 | 15,000 |
Trusteeship management income | 4,822 | 4,821 | 5,110 |
Profit compensation received | 457,727 | 550,832 | 615,013 |
Associates of the Group [member] | |||
Disclosure of transactions between related parties [line items] | |||
Interest income on loans | 6,639 | ||
Capital injection to | 185,261 | 43,427 | 142,579 |
Collateral received under a loan agreement | 96,902 | ||
Joint ventures of the Group | |||
Disclosure of transactions between related parties [line items] | |||
Rental charge paid | 589 | ||
Rental income received | 8,659 | 7,448 | 7,448 |
Net loans received from/(repaid to) | 150,000 | ||
Interest expense on loans | 6,591 | 4,374 | |
Interest income on loans | 4,339 | 3,747 | 3,540 |
Capital injection to | 317,116 | 175,000 | |
Provide entrusted loans | 224,000 | ||
Huangtai #8 Power Plant | |||
Disclosure of transactions between related parties [line items] | |||
Rental income received | 19,689 | 21,253 | 22,497 |
Trusteeship management income | 3,240 | ||
Net proceeds received from an investee with significant influence | ¥ 9,822 | ¥ 41,328 | ¥ 60,246 |
Related party balances and t_11
Related party balances and transactions (Guarantees) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Huaneng Group | ||
Disclosure of transactions between related parties [line items] | ||
Long-term loans guaranteed by related parties | ¥ 1,407,338 | ¥ 2,335,611 |
Short-term loans guaranteed by related parties | 687,470 | |
HIPDC [member] | ||
Disclosure of transactions between related parties [line items] | ||
Long-term loans guaranteed by related parties | ¥ 2,014,800 |
Related party balances and t_12
Related party balances and transactions (Pre-tax benefits and social insurance of key management personnel) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Related party balances and transactions [abstract] | |||
Salaries | ¥ 9,373 | ¥ 6,881 | ¥ 6,754 |
Pension | 1,329 | 1,262 | 1,292 |
Total | ¥ 10,702 | ¥ 8,143 | ¥ 8,046 |
Related party balances and t_13
Related party balances and transactions (Related party commitments) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Subsidiaries of Huaneng Group [member] | ||
Disclosure of transactions between related parties [line items] | ||
Capital commitments | ¥ 1,947,988 | ¥ 714,129 |
Fuel purchase and transportation commitments | 1,519,364 | 2,174,241 |
Joint ventures of the Group | ||
Disclosure of transactions between related parties [line items] | ||
Investment commitment (Note 40) | 31,116 | |
Fuel purchase and transportation commitments | ¥ 131,810 | ¥ 143,614 |
Labor cost (Detail)
Labor cost (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | 24 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2020 | |
Disclosure of labor cost [line items] | ||||
Amount of contributions paid by the Group charged to profit or loss | ¥ 14,503,290 | ¥ 13,514,752 | ¥ 11,845,280 | |
Publicly administered retirement plan for PRC employees [member] | ||||
Disclosure of labor cost [line items] | ||||
Amount of contributions paid by the Group | 507,000 | 1,198,000 | 1,179,000 | |
Amount of contributions paid by the Group charged to profit or loss | ¥ 481,000 | ¥ 1,155,000 | ¥ 1,135,000 | |
Publicly administered retirement plan for PRC employees [member] | Minimum Range | ||||
Disclosure of labor cost [line items] | ||||
Contribution rate of employee benefits to basic salary | 14.00% | 14.00% | 14.00% | |
Publicly administered retirement plan for PRC employees [member] | Maximum Range | ||||
Disclosure of labor cost [line items] | ||||
Contribution rate of employee benefits to basic salary | 20.00% | 22.00% | 22.00% | |
Supplementary defined contribution retirement scheme for PRC employees [member] | ||||
Disclosure of labor cost [line items] | ||||
Amount of contributions paid by the Group | ¥ 698,000 | ¥ 601,000 | ¥ 483,000 | |
Amount of contributions paid by the Group charged to profit or loss | 662,000 | 581,000 | 465,000 | |
Central provident funds for Singapore employees [member] | ||||
Disclosure of labor cost [line items] | ||||
Amount of contributions paid by the Group | ¥ 23,070 | ¥ 20,730 | ¥ 17,530 | |
Central provident funds for Singapore employees [member] | Minimum Range | ||||
Disclosure of labor cost [line items] | ||||
Contribution rate of employee benefits to basic salary | 7.50% | 7.50% | 6.50% | |
Central provident funds for Singapore employees [member] | Maximum Range | ||||
Disclosure of labor cost [line items] | ||||
Contribution rate of employee benefits to basic salary | 17.00% | 17.00% | 16.00% | |
Housing funds for employees [member] | ||||
Disclosure of labor cost [line items] | ||||
Contribution rate of employee benefits to basic salary | 0.00% | |||
Amount of contributions paid by the Group | ¥ 1,024,000 | ¥ 898,000 | ¥ 802,000 | |
Amount of contributions paid by the Group charged to profit or loss | 954,000 | 859,000 | 764,000 | |
Social insurance for employees [member] | ||||
Disclosure of labor cost [line items] | ||||
Contribution rate of employee benefits to basic salary | 0.00% | |||
Amount of contributions paid by the Group | 1,034,000 | 1,034,000 | 930,000 | |
Amount of contributions paid by the Group charged to profit or loss | ¥ 976,000 | ¥ 994,000 | ¥ 886,000 |
Directors', supervisors' and _3
Directors', supervisors' and senior management's emoluments (Detail) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥)directorshares | Dec. 31, 2019CNY (¥)directorshares | Dec. 31, 2018CNY (¥)directorshares | |
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Pension | ¥ 1,329 | ¥ 1,262 | ¥ 1,292 |
Total | ¥ 10,702 | ¥ 8,143 | ¥ 8,046 |
Option granted to the directors and supervisors | shares | 0 | 0 | 0 |
Emolument as an inducement to join or upon joining the Company or as compensation for loss of office | ¥ 0 | ¥ 0 | ¥ 0 |
Number of directors and supervisors waived or agreed to waive emoluments | director | 0 | 0 | 0 |
Directors and supervisors | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Fees | ¥ 1,500 | ¥ 1,500 | ¥ 370 |
Basic salaries | 731 | 304 | 256 |
Performance bonuses | 3,151 | 1,058 | 813 |
Pension | 512 | 262 | 215 |
Total | 5,894 | 3,124 | 1,654 |
Name of director | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Fees | 1,500 | 1,500 | 370 |
Basic salaries | 427 | ||
Performance bonuses | 1,625 | ||
Pension | 258 | ||
Total | 3,810 | 1,500 | 370 |
Mr. Zhao Keyu | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Basic salaries | 215 | ||
Performance bonuses | 836 | ||
Pension | 135 | ||
Total | 1,186 | ||
Mr. Zhaoping | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Basic salaries | 212 | ||
Performance bonuses | 789 | ||
Pension | 123 | ||
Total | 1,124 | ||
Mr. Yue Heng | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Fees | 300 | 74 | |
Total | 300 | 74 | |
Mr. Xia Qing | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Fees | 150 | ||
Total | 150 | ||
Mr. Yue Heng | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Fees | 150 | ||
Total | 150 | ||
Mr. Xu Mengzhou | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Fees | 300 | 300 | 74 |
Total | 300 | 300 | 74 |
Mr. Liu Jizhen | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Fees | 300 | 300 | 74 |
Total | 300 | 300 | 74 |
Mr. Xu Haifeng | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Fees | 300 | 300 | 74 |
Total | 300 | 300 | 74 |
Mr. Zhang Xianzhi | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Fees | 300 | 300 | 74 |
Total | 300 | 300 | 74 |
Name of supervisor | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Basic salaries | 304 | 304 | 256 |
Performance bonuses | 1,526 | 1,058 | 813 |
Pension | 254 | 262 | 215 |
Total | 2,084 | 1,624 | 1,284 |
Ms. Zhang Xiaojun | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Basic salaries | 150 | 150 | 154 |
Performance bonuses | 761 | 529 | 476 |
Pension | 122 | 131 | 130 |
Total | 1,033 | 810 | 760 |
Mr. Xu Jianping | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Basic salaries | 79 | ||
Performance bonuses | 357 | ||
Pension | 77 | ||
Total | 513 | ||
Mr. Zhu Daqing | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Basic salaries | 66 | ||
Performance bonuses | 250 | ||
Pension | 63 | ||
Total | 379 | ||
Mr. Zhang Xiancheng | |||
Pre-tax benefits and social insurance of directors and supervisors [line items] | |||
Basic salaries | 75 | 154 | 36 |
Performance bonuses | 408 | 529 | 87 |
Pension | 55 | 131 | 22 |
Total | ¥ 538 | ¥ 814 | ¥ 145 |
Directors', supervisors' and _4
Directors', supervisors' and senior management's emoluments (Five highest paid individuals) (Detail) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020CNY (¥)itemdirector | Dec. 31, 2019CNY (¥)director | Dec. 31, 2018CNY (¥)director | |
Five highest paid individuals [line items] | |||
Pension | ¥ 1,329 | ¥ 1,262 | ¥ 1,292 |
Total | ¥ 10,702 | ¥ 8,143 | ¥ 8,046 |
Five highest paid individuals [member] | |||
Five highest paid individuals [line items] | |||
Number of directors | director | 2 | 0 | 0 |
Number of non-directors | 3 | 5 | 5 |
Basic salaries | ¥ 552 | ¥ 1,578 | ¥ 1,500 |
Performance bonuses | 2,167 | 2,329 | 2,100 |
Pension | 376 | 695 | 679 |
Total | ¥ 3,095 | ¥ 4,602 | ¥ 4,279 |
Five highest paid individuals [member] | Minimum Range | |||
Five highest paid individuals [line items] | |||
Emoluments payable to each person of five highest paid individuals | 0 | ||
Five highest paid individuals [member] | Maximum Range | |||
Five highest paid individuals [line items] | |||
Emoluments payable to each person of five highest paid individuals | 1,033 |
Commitments (Capital commitment
Commitments (Capital commitments) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about commitments [line items] | ||
Contracted but not provided | ¥ 35,652,079 | ¥ 42,634,992 |
Joint ventures of the Group | ||
Disclosure of detailed information about commitments [line items] | ||
Commitments to make capital contributions | ¥ 31,116 |
Commitments (Fuel purchase comm
Commitments (Fuel purchase commitments) (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Government-related enterprise one, agreement one | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2021-2039 | 2020-2039 | |
Purchase quantities | [1] | 2.8 million m3/day* | 2.8 million m3/day* |
Estimated unit costs (RMB) | 2.37/m3 | 2.88 / m3 | |
Government-related enterprise two, agreement one | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2021-2023 | 2020-2023 | |
Purchase quantities | [1] | 991 million m3/year* | 991 million m3/year* |
Estimated unit costs (RMB) | 2.18/m3 | 2.31 / m3 | |
Government-related enterprise two, agreement two | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2021-2023 | 2020-2023 | |
Purchase quantities | [1] | 541 million m3/year* | 541 million m3/year* |
Estimated unit costs (RMB) | 2.52/m3 | 2.19 / m3 | |
Government-related enterprise two, agreement three | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2021-2023 | 2020-2023 | |
Purchase quantities | [1] | 450 million m3/year* | 450 million m3/year* |
Estimated unit costs (RMB) | 2.11/m3 | 2.25 / m3 | |
Government-related enterprise three, agreement one | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2021-2026 | 2020-2026 | |
Purchase quantities | [1] | 222 million m3/year* | 200 million m3/year* |
Estimated unit costs (RMB) | 2.22/m3 | 2.60 / m3 | |
Government-related enterprise three, agreement two | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2021 | ||
Purchase quantities | [1] | 40 million m3/year* | |
Estimated unit costs (RMB) | 1.86/m3 | ||
Other suppliers, agreement one | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2021 | 2020-2021 | |
Purchase quantities | [2] | 201.5-251.5 BBtu**/day | 201.5-251.5BBtu**/day |
Estimated unit costs (RMB) | approximately48,000/BBtu | approximately 47,000/BBtu | |
Other suppliers, agreement two | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2022 | 2022 | |
Purchase quantities | [2] | 205.5-255.5 BBtu**/day | 205.5-255.5BBtu**/day |
Estimated unit costs (RMB) | approximately47,000/BBtu | approximately 45,000/BBtu | |
Other suppliers, agreement three | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2023 | 2023 | |
Purchase quantities | [2] | 81.5-247.5 BBtu**/day | 81.5-247.5 BBtu**/day |
Estimated unit costs (RMB) | approximately42,000/BBtu | approximately 41,000/BBtu | |
Other suppliers, agreement four | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2024-2028 | 2024-2028 | |
Purchase quantities | [2] | 42.4-81.5 BBtu**/day | 42.4-81.5 BBtu**/day |
Estimated unit costs (RMB) | approximately38,000/BBtu | approximately 37,000/BBtu | |
Other suppliers, agreement five | |||
Disclosure of information about fuel purchase commitments [line items] | |||
Periods | 2029 | 2029 | |
Purchase quantities | [2] | 42.4 BBtu**/day | 42.4 BBtu**/day |
Estimated unit costs (RMB) | approximately28,000/BBtu | approximately 31,000/BBtu | |
[1] | The quantities represent the maximum volume, while others represent the minimum or forecasted volume if not specified. | ||
[2] | BBtu: Billion British Thermal Unit |
Business Combination - Addition
Business Combination - Additional Information (Details) ¥ in Thousands | Jun. 30, 2020CNY (¥) | Dec. 31, 2018CNY (¥) | Dec. 31, 2020CNY (¥) | Nov. 19, 2020CNY (¥) | Jun. 30, 2020USD ($) | Apr. 08, 2020CNY (¥) | Jul. 31, 2018CNY (¥) |
Disclosure of detailed information about business combination [line items] | |||||||
Consideration to be paid (Note 26) | ¥ 22,842 | ||||||
Taifeng Renewable Energy from Huaneng Taishan Power Co., Ltd. ("Taishan Power") | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of equity interest acquired | 82.23% | 82.23% | |||||
Total cash consideration | ¥ 228,420 | ||||||
Cash consideration paid | 205,000 | ||||||
Consideration to be paid (Note 26) | 22,842 | ||||||
Goodwill expected to be deductible for income tax purposes | $ | $ 0 | ||||||
Revenue of acquiree since acquisition date | 42,509 | ||||||
Profit (loss) of acquiree since acquisition date | 1,244 | ||||||
Revenue of combined entity as if combination occurred at beginning of period | 169,494,000 | ||||||
Profit (loss) of combined entity as if combination occurred at beginning of period | 2,618,000 | ||||||
Non-controlling interests | 48,103 | ||||||
Less: Fair value of total identifiable net assets | (270,695) | ||||||
Goodwill | 5,828 | ||||||
Less: Bank balances and cash of acquirees | (6,315) | ||||||
Cash consideration paid for acquisition of subsidiaries, net of cash acquired | ¥ 228,420 | ||||||
Tianjin Yuan Rong Investment Management Co., Ltd | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of equity interest acquired | 100.00% | ||||||
Total cash consideration | ¥ 8,553 | ||||||
Revenue of acquiree since acquisition date | 1,652 | ||||||
Profit (loss) of acquiree since acquisition date | 173 | ||||||
Revenue of combined entity as if combination occurred at beginning of period | 169,450,000 | ||||||
Profit (loss) of combined entity as if combination occurred at beginning of period | 2,611,000 | ||||||
Less: Fair value of total identifiable net assets | (9,294) | ||||||
Less: Bank balances and cash of acquirees | (1,657) | ||||||
Cash consideration paid for acquisition of subsidiaries, net of cash acquired | ¥ 8,553 | ||||||
Acquisition from Taishan Power | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Total cash consideration | ¥ 1,173,000 | ¥ 1,049,809 | |||||
Goodwill expected to be deductible for income tax purposes | 0 | ||||||
Revenue of acquiree since acquisition date | 743,000 | ||||||
Profit (loss) of acquiree since acquisition date | 92,000 | ||||||
Total consideration | 1,172,508 | ||||||
Non-controlling interests | 276,713 | ||||||
Less: Fair value of total identifiable net assets | 1,218,003 | ||||||
Goodwill | 231,218 | ||||||
Less: Bank balances and cash of acquirees | 122,699 | ||||||
Cash consideration paid for acquisition of subsidiaries, net of cash acquired | 1,173,000 | ¥ 1,049,809 | |||||
Acquisition related cost incurred | ¥ 960 | ||||||
A set of activities and assets of Huaneng Laizhou Wind Power Co., Ltd. (Laizhou Wind Power) | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Total cash consideration | ¥ 255 | ||||||
Goodwill expected to be deductible for income tax purposes | 0 | ||||||
Revenue of acquiree since acquisition date | 9,325 | ||||||
Profit (loss) of acquiree since acquisition date | 3,547 | ||||||
Revenue of combined entity as if combination occurred at beginning of period | 169,480,000 | ||||||
Profit (loss) of combined entity as if combination occurred at beginning of period | ¥ 2,617,000 | ||||||
Less: Fair value of total identifiable net assets | 6,532 | ||||||
Goodwill | 6,787 | ||||||
Cash consideration paid for acquisition of subsidiaries, net of cash acquired | ¥ 255 | ||||||
Laizhou Wind Power | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of equity interest acquired | 80.00% | ||||||
Less: Fair value of total identifiable net assets | ¥ 787 | ||||||
Less: Bank balances and cash of acquirees | ¥ (10,486) | ||||||
Shandong Laiwu Thermal Power | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of equity interest acquired | 80.00% | ||||||
Less: Fair value of total identifiable net assets | ¥ (556,546) | ||||||
Less: Bank balances and cash of acquirees | ¥ (57,558) | ||||||
Shandong Liaocheng Thermal Power | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of equity interest acquired | 75.00% | ||||||
Less: Fair value of total identifiable net assets | ¥ (662,244) | ||||||
Less: Bank balances and cash of acquirees | ¥ (54,655) | ||||||
Hong Kong Energy | |||||||
Disclosure of detailed information about business combination [line items] | |||||||
Percentage of equity interest acquired | 50.00% | ||||||
Non-controlling interests | ¥ 1,314,040 | ||||||
Fair value of pre-existing interest in Hong Kong Energy | 1,314,040 | ||||||
Less: Fair value of total identifiable net assets | (2,628,080) | ||||||
Less: Bank balances and cash of acquirees | ¥ (374,964) |
Business Combination - Fair val
Business Combination - Fair values of the identifiable assets and liabilities of Acquiree (Details) - CNY (¥) ¥ in Thousands | Apr. 08, 2020 | Nov. 19, 2020 | Jun. 30, 2020 | Dec. 31, 2018 | Jul. 31, 2018 |
Taifeng Renewable Energy from Huaneng Taishan Power Co., Ltd. ("Taishan Power") | |||||
Assets | |||||
Property, plant and equipment | ¥ 722,076 | ||||
Right-of-use assets | 91,229 | ||||
Other non-current assets | 1,401 | ||||
Other receivables and assets | 60,038 | ||||
Accounts receivable | 153,644 | ||||
Bank balances and cash | 6,315 | ||||
Assets | 1,034,703 | ||||
Liabilities | |||||
Long-term loans | (589,000) | ||||
Lease liabilities | (90,370) | ||||
Deferred income tax liabilities | (9,213) | ||||
Accounts payable and other liabilities | (42,980) | ||||
Taxes payable | (20) | ||||
Current portion of long-term loans | (31,200) | ||||
Current portion of lease liabilities | (1,225) | ||||
Liabilities | (764,008) | ||||
Total identifiable net assets at fair value | 270,695 | ||||
Non-controlling interests | (48,103) | ||||
Goodwill on acquisition | 5,828 | ||||
Cash consideration | ¥ 228,420 | ||||
Tianjin Yuan Rong Investment Management Co., Ltd | |||||
Assets | |||||
Property, plant and equipment | ¥ 39,130 | ||||
Other receivables and assets | 3,403 | ||||
Accounts receivable | 1,494 | ||||
Bank balances and cash | 1,657 | ||||
Assets | 45,684 | ||||
Liabilities | |||||
Accounts payable and other liabilities | (36,390) | ||||
Liabilities | (36,390) | ||||
Total identifiable net assets at fair value | 9,294 | ||||
Gain on bargain purchase recognized in others in the consolidated statement of comprehensive income | (741) | ||||
Cash consideration | ¥ 8,553 | ||||
Acquisition from Taishan Power | |||||
Assets | |||||
Bank balances and cash | ¥ (122,699) | ||||
Liabilities | |||||
Total identifiable net assets at fair value | (1,218,003) | ||||
Non-controlling interests | (276,713) | ||||
Goodwill on acquisition | 231,218 | ||||
Cash consideration | ¥ 1,173,000 | 1,049,809 | |||
A set of activities and assets of Huaneng Laizhou Wind Power Co., Ltd. (Laizhou Wind Power) | |||||
Assets | |||||
Property, plant and equipment | ¥ 231,278 | ||||
Right-of-use assets | 31,643 | ||||
Other non-current assets | 241 | ||||
Other receivables and assets | 205 | ||||
Accounts receivable | 44,812 | ||||
Assets | 308,179 | ||||
Liabilities | |||||
Long-term loans | (258,000) | ||||
Deferred income tax liabilities | (6,787) | ||||
Accounts payable and other liabilities | (49,924) | ||||
Liabilities | (314,711) | ||||
Total identifiable net assets at fair value | (6,532) | ||||
Goodwill on acquisition | 6,787 | ||||
Cash consideration | ¥ 255 | ||||
Laizhou Wind Power | |||||
Assets | |||||
Property, plant and equipment | 568,177 | ||||
Right-of-use assets | 30,232 | ||||
Other non-current assets | 2,007 | ||||
Inventories | 131 | ||||
Other receivables and assets | 4,461 | ||||
Accounts receivable | 47,274 | ||||
Bank balances and cash | 10,486 | ||||
Assets | 662,768 | ||||
Liabilities | |||||
Long-term loans | (115,800) | ||||
Accounts payable and other liabilities | (62,059) | ||||
Taxes payable | (905) | ||||
Short-term loans | (150,000) | ||||
Current portion of long-term loans | (334,791) | ||||
Liabilities | (663,555) | ||||
Total identifiable net assets at fair value | (787) | ||||
Shandong Laiwu Thermal Power | |||||
Assets | |||||
Property, plant and equipment | 1,888,021 | ||||
Right-of-use assets | 67,245 | ||||
Other non-current assets | 5,124 | ||||
Inventories | 2,354 | ||||
Other receivables and assets | 12,277 | ||||
Accounts receivable | 137,573 | ||||
Bank balances and cash | 57,558 | ||||
Assets | 2,170,152 | ||||
Liabilities | |||||
Long-term loans | (379,254) | ||||
Deferred income tax liabilities | (31,588) | ||||
Other non-current liabilities | (26,235) | ||||
Accounts payable and other liabilities | (162,237) | ||||
Taxes payable | (1,686) | ||||
Short-term loans | (550,000) | ||||
Current portion of long-term loans | (462,606) | ||||
Liabilities | (1,613,606) | ||||
Total identifiable net assets at fair value | 556,546 | ||||
Shandong Liaocheng Thermal Power | |||||
Assets | |||||
Property, plant and equipment | 736,577 | ||||
Right-of-use assets | 301,114 | ||||
Other non-current assets | 836 | ||||
Inventories | 22,225 | ||||
Other receivables and assets | 8,622 | ||||
Accounts receivable | 55,246 | ||||
Bank balances and cash | 54,655 | ||||
Assets | 1,179,275 | ||||
Liabilities | |||||
Long-term loans | (200,000) | ||||
Deferred income tax liabilities | (39,414) | ||||
Other non-current liabilities | (118,628) | ||||
Accounts payable and other liabilities | (122,774) | ||||
Taxes payable | (2,215) | ||||
Short-term loans | (34,000) | ||||
Liabilities | (517,031) | ||||
Total identifiable net assets at fair value | ¥ 662,244 | ||||
Hong Kong Energy | |||||
Assets | |||||
Property, plant and equipment | 275,889 | ||||
Deferred income tax assets | 2,919 | ||||
Other non-current assets | 10,205,870 | ||||
Inventories | 372,248 | ||||
Other receivables and assets | 1,030,858 | ||||
Accounts receivable | 1,523,409 | ||||
Bank balances and cash | 374,964 | ||||
Assets | 13,786,157 | ||||
Liabilities | |||||
Long-term loans | (8,200,739) | ||||
Other non-current liabilities | (210,142) | ||||
Accounts payable and other liabilities | (675,009) | ||||
Taxes payable | (1,330) | ||||
Short-term loans | (1,560,108) | ||||
Current portion of long-term loans | (510,749) | ||||
Liabilities | (11,158,077) | ||||
Total identifiable net assets at fair value | 2,628,080 | ||||
Non-controlling interests | ¥ (1,314,040) |
Business Combination - Analysis
Business Combination - Analysis of the cash flows in respect of the acquisition of acquiree (Details) - CNY (¥) ¥ in Thousands | Nov. 19, 2020 | Jun. 30, 2020 | Apr. 08, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about business combination [line items] | ||||||
Consideration to be paid (Note 26) | ¥ 22,842 | |||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | ¥ 206,414 | ¥ 71,696 | ¥ 674,845 | |||
Taifeng Renewable Energy from Huaneng Taishan Power Co., Ltd. ("Taishan Power") | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Cash consideration | ¥ 228,420 | |||||
Consideration to be paid (Note 26) | 22,842 | |||||
Cash and bank balances acquired | 6,315 | |||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | (199,263) | |||||
Net outflow of cash and cash equivalents after transaction Costs | ¥ (199,263) | |||||
Tianjin Yuan Rong Investment Management Co., Ltd | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Cash consideration | ¥ 8,553 | |||||
Cash and bank balances acquired | 1,657 | |||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | (6,896) | |||||
Net outflow of cash and cash equivalents after transaction Costs | ¥ (6,896) | |||||
A set of activities and assets of Huaneng Laizhou Wind Power Co., Ltd. (Laizhou Wind Power) | ||||||
Disclosure of detailed information about business combination [line items] | ||||||
Cash consideration | ¥ 255 | |||||
Net outflow of cash and cash equivalents included in cash flows from investing activities | (255) | |||||
Net outflow of cash and cash equivalents after transaction Costs | ¥ (255) |
Non-controlling interests (Deta
Non-controlling interests (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
Non-current assets | ¥ 383,767,027 | ¥ 367,468,662 | |
Current assets | 66,137,631 | 60,781,401 | |
Non-current liabilities | (144,240,369) | (156,250,607) | |
Current liabilities | (154,048,091) | (141,620,410) | |
Carrying amount of NCI | 21,770,275 | 21,575,311 | |
Revenue | 169,446,338 | 174,009,401 | ¥ 169,550,624 |
Net (loss)/profit | 2,610,563 | 1,108,205 | 1,329,974 |
Total comprehensive (loss)/income | 1,639,525 | 1,679,092 | 911,085 |
(Loss)/ Profit allocated to NCI | 232,712 | 341,860 | 595,539 |
Other comprehensive income/ (loss) allocated to NCI | (192,658) | (160,781) | |
Cash flow from operating activities | 41,987,038 | 37,324,193 | 28,727,978 |
Cash flow from investment activities | (42,237,132) | (29,033,985) | (20,375,882) |
Cash flow from financing activities | 1,803,816 | (11,328,183) | (2,243,070) |
Net increase/ (decrease) in cash and cash equivalents | ¥ 814,634 | ¥ (2,974,424) | ¥ 6,135,292 |
Huaneng Qinbei Power Generation Co., Ltd. ("Qinbei Power") (v) | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
NCI percentage | 40.00% | 40.00% | 40.00% |
Non-current assets | ¥ 8,218,373 | ¥ 9,086,939 | |
Current assets | 1,334,506 | 1,317,076 | |
Non-current liabilities | (1,355,645) | (2,249,675) | |
Current liabilities | (5,026,519) | (4,905,399) | |
Net assets | 3,170,715 | 3,248,941 | |
Carrying amount of NCI | 1,282,201 | 1,313,492 | |
Revenue | 4,472,279 | 4,787,221 | ¥ 5,293,403 |
Net (loss)/profit | (78,226) | 30,270 | (198,026) |
Total comprehensive (loss)/income | (78,226) | 30,270 | (198,026) |
(Loss)/ Profit allocated to NCI | (31,290) | 12,108 | (79,210) |
Cash flow from operating activities | 1,302,559 | 667,432 | 954,820 |
Cash flow from investment activities | (234,425) | (205,703) | (503) |
Cash flow from financing activities | (1,029,306) | (613,468) | (843,094) |
Net increase/ (decrease) in cash and cash equivalents | ¥ 38,828 | ¥ (166,994) | 111,223 |
Dividends paid to NCI | ¥ 165,965 | ||
Beijing Co-generation | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
NCI percentage | 59.00% | 59.00% | 59.00% |
Non-current assets | ¥ 5,849,233 | ¥ 6,264,852 | |
Current assets | 1,125,151 | 852,059 | |
Non-current liabilities | (68,685) | (53,494) | |
Current liabilities | (1,232,536) | (1,257,150) | |
Net assets | 5,673,163 | 5,806,267 | |
Carrying amount of NCI | 3,347,198 | 3,425,774 | |
Revenue | 5,607,020 | 5,579,382 | ¥ 5,704,966 |
Net (loss)/profit | 505,190 | 705,311 | 757,268 |
Total comprehensive (loss)/income | 505,190 | 705,311 | 757,268 |
(Loss)/ Profit allocated to NCI | 298,062 | 416,133 | 446,788 |
Cash flow from operating activities | 1,037,909 | 1,623,975 | 1,321,867 |
Cash flow from investment activities | (421,456) | (273,374) | (316,754) |
Cash flow from financing activities | (704,705) | (1,329,614) | (904,822) |
Net increase/ (decrease) in cash and cash equivalents | (88,252) | 20,987 | 101,482 |
Dividends paid to NCI | ¥ 376,787 | ¥ 625,886 | ¥ 460,262 |
Luohuang Power | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
NCI percentage | 40.00% | 40.00% | 40.00% |
Non-current assets | ¥ 3,316,087 | ¥ 3,649,432 | |
Current assets | 1,241,707 | 1,134,889 | |
Non-current liabilities | (189,516) | (205,085) | |
Current liabilities | (1,872,962) | (2,061,440) | |
Net assets | 2,495,316 | 2,517,796 | |
Carrying amount of NCI | 977,108 | 986,100 | |
Revenue | 2,703,231 | 2,833,807 | ¥ 2,819,106 |
Net (loss)/profit | 77,521 | 64,093 | 18,811 |
Total comprehensive (loss)/income | 77,521 | 64,093 | 18,811 |
(Loss)/ Profit allocated to NCI | 31,008 | 25,637 | 7,524 |
Cash flow from operating activities | 575,857 | 360,226 | 192,608 |
Cash flow from investment activities | (137,178) | (101,279) | (201,012) |
Cash flow from financing activities | (403,026) | (247,546) | (5,288) |
Net increase/ (decrease) in cash and cash equivalents | 35,653 | ¥ 11,401 | ¥ (13,692) |
Dividends paid to NCI | ¥ 40,000 | ||
Weihai Power | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
NCI percentage | 40.00% | 40.00% | 40.00% |
Non-current assets | ¥ 3,709,929 | ¥ 3,981,753 | |
Current assets | 637,757 | 629,370 | |
Non-current liabilities | (119,088) | (34,495) | |
Current liabilities | (1,463,315) | (1,894,952) | |
Net assets | 2,765,283 | 2,681,676 | |
Carrying amount of NCI | 1,106,113 | 1,072,670 | |
Revenue | 2,775,206 | 3,045,352 | ¥ 3,587,416 |
Net (loss)/profit | 83,607 | 193,754 | 253,552 |
Total comprehensive (loss)/income | 83,607 | 193,754 | 253,552 |
(Loss)/ Profit allocated to NCI | 33,443 | 77,502 | 101,421 |
Cash flow from operating activities | 608,917 | 273,607 | 473,349 |
Cash flow from investment activities | (61,691) | (95,699) | (98,420) |
Cash flow from financing activities | (519,433) | (260,953) | (306,054) |
Net increase/ (decrease) in cash and cash equivalents | ¥ 27,793 | (94,821) | 68,875 |
Dividends paid to NCI | ¥ 124,000 | ¥ 140,000 | |
Jinling Power | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
NCI percentage | 40.00% | 40.00% | 40.00% |
Non-current assets | ¥ 4,088,251 | ¥ 4,432,195 | |
Current assets | 576,992 | 459,849 | |
Non-current liabilities | (694,913) | (1,136,398) | |
Current liabilities | (1,627,035) | (1,489,022) | |
Net assets | 2,343,295 | 2,266,624 | |
Carrying amount of NCI | 937,340 | 906,671 | |
Revenue | 3,168,617 | 3,099,014 | ¥ 3,346,779 |
Net (loss)/profit | 315,837 | 265,457 | 200,269 |
Total comprehensive (loss)/income | 315,837 | 265,457 | 200,269 |
(Loss)/ Profit allocated to NCI | 126,335 | 106,183 | 80,108 |
Cash flow from operating activities | 706,320 | 821,975 | 711,800 |
Cash flow from investment activities | (100,610) | (128,541) | (52,701) |
Cash flow from financing activities | (645,027) | (792,266) | (570,838) |
Net increase/ (decrease) in cash and cash equivalents | (39,317) | (98,832) | 88,261 |
Dividends paid to NCI | ¥ 95,666 | ¥ 130,566 | ¥ 95,979 |
Yueyang Power | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
NCI percentage | 45.00% | 45.00% | 45.00% |
Non-current assets | ¥ 4,074,135 | ¥ 4,320,232 | |
Current assets | 1,264,211 | 1,426,960 | |
Non-current liabilities | (659,387) | (701,135) | |
Current liabilities | (2,112,026) | (2,368,204) | |
Net assets | 2,566,933 | 2,677,853 | |
Carrying amount of NCI | 1,171,281 | 1,220,746 | |
Revenue | 3,591,193 | 4,005,328 | ¥ 4,003,821 |
Net (loss)/profit | 294,258 | 453,869 | 118,342 |
Total comprehensive (loss)/income | 294,258 | 453,869 | 118,342 |
(Loss)/ Profit allocated to NCI | 132,416 | 204,241 | 53,254 |
Cash flow from operating activities | 1,151,257 | 689,723 | 412,413 |
Cash flow from investment activities | 13,049 | (163,584) | (106,596) |
Cash flow from financing activities | (714,838) | (503,852) | (305,872) |
Net increase/ (decrease) in cash and cash equivalents | 449,468 | 22,287 | (55) |
Dividends paid to NCI | ¥ 185,661 | ¥ 45,000 | ¥ 46,790 |
Shidongkou Power | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
NCI percentage | 50.00% | 50.00% | 50.00% |
Non-current assets | ¥ 2,978,015 | ¥ 3,255,810 | |
Current assets | 418,832 | 465,772 | |
Non-current liabilities | (529,136) | (488,350) | |
Current liabilities | (1,069,893) | (1,563,894) | |
Net assets | 1,797,818 | 1,669,338 | |
Carrying amount of NCI | 898,909 | 834,669 | |
Revenue | 2,178,367 | 2,055,168 | ¥ 2,109,785 |
Net (loss)/profit | 355,890 | 216,595 | 131,129 |
Total comprehensive (loss)/income | 355,890 | 216,595 | 131,129 |
(Loss)/ Profit allocated to NCI | 177,945 | 108,298 | 65,564 |
Cash flow from operating activities | 736,958 | 655,910 | 527,783 |
Cash flow from investment activities | (38,695) | (86,427) | (45,045) |
Cash flow from financing activities | (719,372) | (582,452) | (472,543) |
Net increase/ (decrease) in cash and cash equivalents | (21,109) | (12,969) | 10,195 |
Dividends paid to NCI | ¥ 113,705 | ¥ 65,000 | ¥ 51,870 |
Yangliuqing Co-generation | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
NCI percentage | 45.00% | 45.00% | 45.00% |
Non-current assets | ¥ 2,449,103 | ¥ 2,421,307 | |
Current assets | 610,494 | 721,617 | |
Non-current liabilities | (197,615) | (378,478) | |
Current liabilities | (842,820) | (778,235) | |
Net assets | 2,019,162 | 1,986,211 | |
Carrying amount of NCI | 907,727 | 892,899 | |
Revenue | 1,846,175 | 1,945,841 | ¥ 2,077,570 |
Net (loss)/profit | 32,950 | 59,733 | 69,477 |
Total comprehensive (loss)/income | 32,950 | 59,733 | 69,477 |
(Loss)/ Profit allocated to NCI | 14,828 | 26,880 | 31,265 |
Cash flow from operating activities | 329,025 | 171,531 | 210,558 |
Cash flow from investment activities | (80,191) | (16,465) | (258,605) |
Cash flow from financing activities | (256,335) | (167,846) | 63,762 |
Net increase/ (decrease) in cash and cash equivalents | ¥ (7,501) | (12,780) | ¥ 15,719 |
Dividends paid to NCI | ¥ 48,585 | ||
Shandong Power | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
NCI percentage | 20.00% | 20.00% | 20.00% |
Non-current assets | ¥ 52,936,475 | ¥ 57,881,917 | |
Current assets | 11,381,268 | 11,225,955 | |
Non-current liabilities | (25,501,838) | (29,027,404) | |
Current liabilities | (26,380,853) | (23,441,038) | |
Net assets | 12,435,052 | 16,639,430 | |
Carrying amount of NCI | 4,596,984 | 5,591,178 | |
Revenue | 26,904,777 | 28,274,364 | ¥ 24,202,739 |
Net (loss)/profit | (4,014,417) | (430,222) | 282,198 |
Total comprehensive (loss)/income | (4,313,258) | (675,666) | 327,958 |
(Loss)/ Profit allocated to NCI | (802,883) | (86,044) | (10,780) |
Other comprehensive income/ (loss) allocated to NCI | (59,769) | (49,089) | 9,152 |
Cash flow from operating activities | 7,836,378 | 7,066,137 | 4,469,849 |
Cash flow from investment activities | (4,652,029) | (2,787,419) | (3,628,406) |
Cash flow from financing activities | (3,179,760) | (2,673,351) | (162,007) |
Net increase/ (decrease) in cash and cash equivalents | 4,589 | (414,221) | 679,471 |
Dividends paid to NCI | 101,296 | 84,156 | 42,506 |
Other individually immaterial subsidiaries | |||
Disclosure of information related to each of the Company and subsidiaries that have material non-controlling interests [line items] | |||
Carrying amount of NCI | 6,545,414 | 5,331,112 | |
(Loss)/ Profit allocated to NCI | 252,848 | (549,078) | (100,395) |
Other comprehensive income/ (loss) allocated to NCI | ¥ (132,889) | ¥ (111,692) | ¥ (33,707) |
Leases (The Group as a lessee)
Leases (The Group as a lessee) (Carrying amounts and movements of right-of-use assets) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of leases [line items] | |||
Right-of-use assets at 1 January 2019 | ¥ 17,168,072 | ¥ 13,858,230 | |
Additions | ¥ 2,400,639 | 4,500,070 | |
Business Combination | 122,872 | ||
Depreciation charge | (813,224) | (781,618) | |
Disposals/write-off | (11,830) | (431,813) | |
Early termination | (506,601) | ||
Currency translation differences | (67,854) | 23,203 | |
Right-of-use assets at the end of period | 18,292,074 | 17,168,072 | |
Net book value of land use rights for which Company is in the process of applying ownership certificates | 161,000 | 350,000 | |
Buildings | |||
Disclosure of leases [line items] | |||
Right-of-use assets at 1 January 2019 | 143,314 | 320,591 | |
Reclassification | 265,167 | ||
Additions | 255,030 | 109,321 | |
Depreciation charge | (97,483) | (21,983) | |
Early termination | (8,570) | ||
Currency translation differences | (1,396) | 552 | |
Right-of-use assets at the end of period | 290,895 | 143,314 | |
Electric utility plant in service | |||
Disclosure of leases [line items] | |||
Right-of-use assets at 1 January 2019 | 3,800,493 | 1,387,258 | |
Reclassification | (26,698) | ||
Additions | 1,453,919 | 2,643,363 | |
Depreciation charge | (228,539) | (233,218) | |
Disposals/write-off | (7,589) | ||
Early termination | (497,815) | ||
Currency translation differences | (3,302) | 3,090 | |
Right-of-use assets at the end of period | 4,490,469 | 3,800,493 | |
Transportation facilities | |||
Disclosure of leases [line items] | |||
Right-of-use assets at 1 January 2019 | 206,421 | 826 | |
Reclassification | (229,292) | ||
Depreciation charge | (7,021) | (16,967) | |
Currency translation differences | (18,683) | (6,730) | |
Right-of-use assets at the end of period | 180,717 | 206,421 | |
Land use rights | |||
Disclosure of leases [line items] | |||
Right-of-use assets at 1 January 2019 | 12,553,477 | 11,810,054 | |
Reclassification | 28,606 | (375,376) | |
Additions | 621,787 | 1,270,033 | |
Business Combination | 122,872 | ||
Depreciation charge | (431,476) | (496,464) | |
Disposals/write-off | (4,241) | (431,813) | |
Currency translation differences | (44,473) | 26,291 | |
Right-of-use assets at the end of period | 12,846,552 | 12,553,477 | |
Others | |||
Disclosure of leases [line items] | |||
Right-of-use assets at 1 January 2019 | 464,367 | ¥ 339,501 | |
Reclassification | (1,908) | 339,501 | |
Additions | 69,903 | 477,353 | |
Depreciation charge | (48,705) | (12,986) | |
Early termination | (216) | ||
Right-of-use assets at the end of period | ¥ 483,441 | ¥ 464,367 |
Leases (The Group as a lessee_2
Leases (The Group as a lessee) (Carrying amount and movements of lease liabilities) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Leases | ||
Lease liabilities, at the beginning of period | ¥ 4,712,670 | ¥ 2,216,792 |
New leases | 2,201,755 | 2,835,993 |
Business Combination | 91,595 | |
Accretion of interest recognized during the year | 275,810 | 171,573 |
Currency translation differences | (66,099) | (23,673) |
Payments | (1,385,143) | (488,015) |
Early termination | (348,242) | |
Lease liabilities, at the end of period | 5,482,346 | 4,712,670 |
Analysed into: | ||
Current portion | 1,676,711 | 432,745 |
Non-current portion | ¥ 3,805,635 | ¥ 4,279,925 |
Leases (The Group as a lessee_3
Leases (The Group as a lessee) (Maturity analysis of lease liabilities) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of leases [line items] | |||
Lease liabilities | ¥ 5,482,346 | ¥ 4,712,670 | ¥ 2,216,792 |
Within 1 year | |||
Disclosure of leases [line items] | |||
Lease liabilities | 1,676,711 | 432,745 | |
Between 1 to 2 years | |||
Disclosure of leases [line items] | |||
Lease liabilities | 464,403 | 1,323,826 | |
Between 2 to 3 years | |||
Disclosure of leases [line items] | |||
Lease liabilities | 269,060 | 332,986 | |
Over 3 years | |||
Disclosure of leases [line items] | |||
Lease liabilities | ¥ 3,072,172 | ¥ 2,623,113 |
Leases (The Group as a lessee_4
Leases (The Group as a lessee) (Leases recognised in profit or loss) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Leases | ||
Interest on lease liabilities | ¥ 202,264 | ¥ 171,573 |
Depreciation charge of right-of-use assets | 785,518 | 734,827 |
Expense relating to short-term leases | 103,817 | 231,651 |
Expense relating to leases of low-value assets | 2,214 | 2,488 |
Total amount recognized in profit | ¥ 1,093,813 | ¥ 1,140,539 |
Leases (The Group as a lessor)
Leases (The Group as a lessor) (Narrative) (Detail) - CNY (¥) ¥ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Leases | ||
Total finance lease income | ¥ 1,544 | ¥ 1,711 |
Leases (The Group as a lessor_2
Leases (The Group as a lessor) (Maturity analysis of finance lease receivables) (Detail) - CNY (¥) ¥ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of leases [line items] | ||
Undiscounted finance lease payments | ¥ 27,608,210 | ¥ 31,956,372 |
Unearned finance income | (17,694,886) | (20,949,750) |
Allowance for ECL | (2,925) | (3,086) |
Total finance lease receivables as at period end | 9,910,399 | 11,003,536 |
Within 1 year | ||
Disclosure of leases [line items] | ||
Undiscounted finance lease payments | 1,924,763 | 2,172,707 |
Between 1 to 2 years | ||
Disclosure of leases [line items] | ||
Undiscounted finance lease payments | 1,925,641 | 2,156,047 |
Between 2 to 3 years | ||
Disclosure of leases [line items] | ||
Undiscounted finance lease payments | 1,928,125 | 2,146,481 |
After 3 years but within 4 years | ||
Disclosure of leases [line items] | ||
Undiscounted finance lease payments | 1,939,174 | 2,132,394 |
After 4 years but within 5 years | ||
Disclosure of leases [line items] | ||
Undiscounted finance lease payments | 1,969,470 | 2,163,914 |
After 5 years | ||
Disclosure of leases [line items] | ||
Undiscounted finance lease payments | ¥ 17,921,037 | ¥ 21,184,829 |
Leases (The Group as a lessor_3
Leases (The Group as a lessor) (Maturity analysis of operating lease payments) (Detail) - CNY (¥) ¥ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of leases [line items] | ||
Rental income recognised by the Group | ¥ 86,000 | ¥ 140,000 |
Undiscounted lease payments receivable by the Group | 22,080 | 155,941 |
Within 1 year | ||
Disclosure of leases [line items] | ||
Undiscounted lease payments receivable by the Group | 11,652 | 28,143 |
Between 1 to 2 years | ||
Disclosure of leases [line items] | ||
Undiscounted lease payments receivable by the Group | 3,701 | 27,867 |
Between 2 to 3 years | ||
Disclosure of leases [line items] | ||
Undiscounted lease payments receivable by the Group | 2,161 | 27,695 |
After 3 years but within 4 years | ||
Disclosure of leases [line items] | ||
Undiscounted lease payments receivable by the Group | 1,021 | 27,617 |
After 4 years but within 5 years | ||
Disclosure of leases [line items] | ||
Undiscounted lease payments receivable by the Group | 525 | 27,645 |
After 5 years | ||
Disclosure of leases [line items] | ||
Undiscounted lease payments receivable by the Group | ¥ 3,020 | ¥ 16,974 |
Subsequent events (Detail)
Subsequent events (Detail) - CNY (¥) ¥ / shares in Units, ¥ in Thousands | Feb. 28, 2021 | Dec. 31, 2020 |
Disclosure of non-adjusting events after reporting period [line items] | ||
Face value | ¥ 48,000,000 | |
Issuance of green medium-term notes | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Annual interest rate | 3.45% | |
Subsequent Event | Issuance of green medium-term notes | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Par value | ¥ 100 | |
Face value | ¥ 1,000,000 |