FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
The Securities Exchange Act of 1934
For the month of April 2017
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F _____
(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. )
Yes ____ No X
(If "Yes" is marked, indicate below the file number assigned to registrant in connection with Rule 12g3-2(b): 82-__________. )
N/A
Huaneng Power International, Inc.
Huaneng Building,
6 Fuxingmennei Street,
Xicheng District,
Beijing, 100031 PRC
This Form 6-K consists of:
An announcement regarding 2017 first quarterly report of Huaneng Power International, Inc. (the “Registrant”), made by the Registrant on April 26, 2017.
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this document.
(a Sino-foreign joint stock company incorporated in the People's Republic of China)
(Stock Code: 902)
FIRST QUARTERLY REPORT OF 2017
Pursuant to the regulations of the China Securities Regulatory Commission, the Company is required to publish a quarterly report for each of the first and third quarters. All financial information set out in this quarterly report is unaudited and prepared in accordance with the PRC Accounting Standards (“PRC GAAP”). This announcement is made by the Company pursuant to Rule 13.09 and Rules 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong). |
1. | IMPORTANT NOTICE |
1.1 | The board of directors and the supervisory committee of Huaneng Power International, Inc. (the “Company”, “Huaneng Power International”) together with the members thereof and the senior management warrant that the information contained in this report does not contain any false statements, misleading representations or material omissions. All of them jointly and severally accept responsibility as to the truthfulness, accuracy and completeness of the content of this report. |
1.2 | All financial information set out in this quarterly report is unaudited and prepared in accordance with the PRC GAAP. |
1.3 | Cao Peixi (Chairman), Huang Lixin (person in charge of accounting function) and Li Yinghui (person in charge of the Accounting Department) warrant the truthfulness, accuracy and completeness of the content of the quarterly report. |
1.4 | This announcement is made by the Company pursuant to Rule 13.09 and Rules 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong). |
1
2 | MAJOR FINANCIAL INFORMATION AND CHANGES IN SHAREHOLDERS OF THE COMPANY |
2.1 | Major financial information (PRC GAAP) (unaudited) |
(Amounts: In RMB Yuan)
End of current reporting period | End of last year (Restated) | Variance from end of last year (%) | ||||||||||
Total assets | 375,542,682,233 | 379,874,821,092 | (1.14 | ) | ||||||||
Shareholders’ equity attributable to shareholders of the Company | 73,844,879,361 | 88,476,455,143 | (16.54 | ) | ||||||||
From the beginning of the year to the end of current reporting period | From the beginning of the preceding year to the end of equivalent period (Restated) | Variance from equivalent period of last year (%) | ||||||||||
Net cash flows generated from operating activities | 7,648,994,310 | 14,421,308,845 | (46.96 | ) | ||||||||
From the beginning of the year to the end of current reporting period | From the beginning of the preceding year to the end of equivalent period (Restated) | Variance from equivalent period of last year (%) | ||||||||||
Operating Revenue | 37,577,079,025 | 34,943,310,711 | 7.54 | |||||||||
Net profit attributable to shareholders of the Company | 651,979,268 | 5,004,567,025 | (86.97 | ) | ||||||||
Net profit after deducting non-recurring items attributable to shareholders of the Company | 580,841,260 | 3,901,729,709 | (85.11 | ) | ||||||||
Return on net assets (weighted average) (%) | 0.89 | 5.75 | Decreased by 4.86 percentage points | |||||||||
Basic earnings per share (Yuan/Share) | 0.04 | 0.33 | (87.88 | ) | ||||||||
Diluted earnings per share (Yuan/Share) | 0.04 | 0.33 | (87.88 | ) |
2
Deducting non-recurring items and amounts:
Items | Total amount from the beginning of the year to the end of current reporting period | |||
(RMB Yuan) | ||||
Losses from disposal of non-current assets | (292,624 | ) | ||
Government grant recorded in income statement, excluding government grant closely related to the Company’s business and calculated according to national unified standards | 101,988,173 | |||
Losses from the changes in fair value from held-for-trading financial assets, held-for-trading financial liabilities other than those hedging instruments relating to normal business, and investment income from disposal of held-for-trading financial assets, held-for-trading financial liabilities and available-for-sale financial assets | (5,442,724 | ) | ||
Reversal of provision for doubtful accounts receivable individually tested for impairments | 7,215 | |||
Other non-operating income and expenses excluding the above items | 9,923,154 | |||
Other non-recurring items | (108,052 | ) | ||
Impact of non-controlling interests, net of tax | (10,285,083 | ) | ||
Tax impact of non-recurring items | (24,652,051 | ) | ||
Total | 71,138,008 |
3
2.2 | Total number of shareholders, ten largest shareholders and shareholding of top ten holders of circulating shares whose shares are not subject to any selling restrictions as at the end of the reporting period |
Unit: share
Total number of shareholders | 98,371 | |||||
Top ten holders of shares | ||||||
Name (in full) of shareholders | Number of shares held at end of reporting period | Percentage (%) | Number of shares held with selling restriction | Status on charges or pledges etc. | Nature of shareholders | |
Status of shares | Number | |||||
Huaneng International Power Development Corporation | 5,066,662,118 | 33.33 | – | Nil | – | State-owned entity |
HKSCC Nominees Limited | 3,938,991,660 | 25.91 | – | Nil | – | Foreign entity |
China Huaneng Group | 1,555,124,549 | 10.23 | – | Nil | – | State-owned entity |
Hebei Construction & Investment Group Co., Ltd. | 549,169,071 | 3.61 | – | Nil | – | State-owned entity |
China Hua Neng Group Hong Kong Limited | 472,000,000 | 3.11 | – | Nil | – | Foreign entity |
China Securities Finance Corporation Limited | 422,071,172 | 2.78 | – | Nil | – | State-owned entity |
Jiangsu Provincial Investment & Management Limited Liability Company | 416,500,000 | 2.74 | – | Nil | – | State-owned entity |
Liaoning Energy Investment (Group) Limited Liability Company | 388,619,936 | 2.56 | – | Nil | – | State-owned entity |
Fujian Investment & Development Group Co., Ltd. | 365,818,238 | 2.41 | – | Nil | – | State-owned entity |
Dalian Construction Investment Group Co., Ltd. | 301,500,000 | 1.98 | – | Charges | 150,750,000 | State-owned entity |
4
Top ten holders of circulating shares whose shares are not subject to selling restrictions | |||
Name (in full) of shareholders | Number of shares in circulation without any selling restrictions | Type and number of shares | |
Type | Number | ||
Huaneng International Power Development Corporation | 5,066,662,118 | RMB denominated ordinary shares | 5,066,662,118 |
HKSCC Nominees Limited | 3,938,991,660 | Overseas listed foreign invested shares | 3,938,991,660 |
China Huaneng Group | 1,555,124,549 | RMB denominated ordinary shares | 1,555,124,549 |
Hebei Construction & Investment Group Co., Ltd. | 549,169,071 | RMB denominated ordinary shares | 549,169,071 |
China Hua Neng Group Hong Kong Limited | 472,000,000 | Overseas listed foreign invested shares | 472,000,000 |
China Securities Finance Corporation Limited | 422,071,172 | RMB denominated ordinary shares | 422,071,172 |
Jiangsu Provincial Investment & Management Limited Liability Company | 416,500,000 | RMB denominated ordinary shares | 416,500,000 |
Liaoning Energy Investment (Group) Limited Liability Company | 388,619,936 | RMB denominated ordinary shares | 388,619,936 |
Fujian Investment & Development Group Co., Ltd. | 365,818,238 | RMB denominated ordinary shares | 365,818,238 |
Dalian Construction Investment Group Co., Ltd. | 301,500,000 | RMB denominated ordinary shares | 301,500,000 |
Details relating to the related relationship of the above shareholders or the parties acting in concert | Among the above shareholders, China Huaneng Group, Huaneng International Power Development Corporation and China Hua Neng Group Hong Kong Limited are regarded as parties acting in concert under the “Management Rules on Acquisition of Listing Companies”. The Company is not aware of any related relationship among other shareholders. |
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2.3 | Total number of holders of preference shares, ten largest holders of preference shares and shareholding of top ten holders of preference shares whose shares are not subject to selling restriction as at the end of the reporting period |
£ Applicable R Not applicable
3 | SIGNIFICANT EVENTS |
3.1 | Disclosure as to, and reasons for, material changes in accounting items and financial indices of the Company |
R Applicable £ Not applicable
(a) | Fluctuation analysis of the consolidated balance sheet items |
1 | Derivatives financial assets (current portion) as at the end of period decreased by 58.01% compared with the end of last year, mainly due to the decrease in the fair value of the fuel swap contracts held by the Company’s subsidiary, SinoSing Power Pte. Ltd (“Sinosing Power”). |
2 | Derivatives financial assets (non-current portion) as at the end of period decreased by 65.06% compared with the end of last year, mainly due to the decrease in the fair value of the fuel swap contracts held by the Company’s subsidiary, Sinosing Power. |
3 | Advance from the customers as at the end of the period decreased by 79.41% compared with the end of last year, mainly due to the decrease in amounts received in advance for heat sales by the Company and its subsidiaries. |
4 | Capital surplus as at the end of the period decreased by 52.49% compared with the end of last year, mainly due to the result of the business combination under common control. |
(b) | Fluctuation analysis of the consolidated income statement items |
1 | Operating cost increased by 38.55% compared with the same period of last year, mainly due to the increase of fuel price. |
2 | Income tax expense decreased by 77.93% compared with the same period of last year, mainly due to the decrease of profit before tax. |
3 | Net profit attributable to equity holders of the Company decreased by 86.97% compared with the same period of last year, mainly due to the increase of fuel price. |
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(c) | Fluctuation analysis of the cash flow statement items |
1 | Net cash inflows generated from operating activities decreased by 46.96% compared with the same period of the last year, mainly due to the increase in payments for fuel by the Company and its subsidiaries. |
2 | Net cash outflows used in investment activities increased by 86.51% compared with the same period of the last year, mainly due to the increase of net cash outflow of the Company for acquisition of its subsidiaries. |
3 | Net cash inflows generated from financing activities was 5.606 billion, compared that net cash outflows used in financing activities was 9.043 billion for the same period of last year, mainly due to the increased receivables from borrowings and bonds issued by the Company. |
3.2 | Analysis and description of significant events and their impacts and solutions |
R Applicable £ Not applicable
On 14 October 2016, the Company signed the “Agreement for the Transfer of Equity Interests in Certain Companies with China Huaneng Group (“Huaneng Group”) and Huaneng Power International” (the “Transfer Agreement”) and “Profit Forecast Compensation Agreement made between Huaneng Group and Huaneng Power International” with Huaneng Group in Beijing. The Company has issued a “Connected Transaction Announcement” (no. 2016-041) on The Shanghai Stock Exchange on 14 October 2016.
Pursuant to the Transfer Agreement, the Company acquired the transfer of 80% equity interest of Huaneng Shandong Power Limited (“Shangdong Power”), 100% equity interest of Huaneng Jilin Power Limited (“Jilin Power”), 100% equity interest of Huaneng Heilongjiang Power Limited (“Heilongjiang Power”) and 90% equity interest of Huaneng Henan Zhongyuan Gas Power Generation Co., Ltd. (“Zhongyuan CCGT”) from Huaneng Group for the consideration of RMB15,113,825,800.
This transaction was considered and approved at the 21st meeting of the Eighth Session of the Board held on 14 October 2016, and was considered and approved at the 2016 Second Extraordinary General Meeting held on 30 November 2016.
7
According to the terms of the Transfer Agreement, the Company paid 50% of the consideration for such transaction to Huaneng Group on 9 January 2017. The Company has issued a “Transaction Progress Announcement” (no. 2017-002) on The Shanghai Stock Exchange on 12 January 2017. On 22 March 2017, the Company paid another 20% of the consideration to Huaneng Group. Since 2017, Shangdong Power, Jilin Power, Heilongjiang Power and Zhongyuan CCGT are consolidated into the consolidated financial statements of the Company.
3.3 | Undertaking not performed during the reporting period |
£ Applicable R Not applicable
3.4 | Warnings on any potential loss in accumulated net profit for the period from the beginning of the year to the end of next reporting period or any material changes from the corresponding period last year and the reasons therefor |
£ Applicable R Not applicable
By Order of the Board | |
Huaneng Power International, Inc. | |
Cao Peixi | |
Chairman |
As at the date of this announcement, the Directors of the Company are:
Cao Peixi (Executive Director) | Li Zhensheng (Independent Non-executive Director) | |
Guo Junming (Non-executive Director) | Yue Heng (Independent Non-executive Director) | |
Liu Guoyue (Executive Director) | Geng Jianxin (Independent Non-executive Director) | |
Fan Xiaxia (Executive Director) | Xia Qing (Independent Non-executive Director) | |
Li Shiqi (Non-executive Director) | Xu Mengzhou (Independent Non-executive Director) | |
Huang Jian (Non-executive Director) | ||
Mi Dabin (Non-executive Director) | ||
Guo Hongbo (Non-executive Director) | ||
Zhu Yousheng (Non-executive Director) | ||
Li Song (Non-executive Director) |
Beijing, the PRC
26 April 2017
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APPENDIX
HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED AND THE COMPANY BALANCE SHEETS (PRC GAAP)
AS AT 31 MARCH 2017
Amounts: In RMB Yuan, except as noted
ASSETS | 31 March 2017 Consolidated | 31 December 2016 Consolidated | 31 March 2017 The Company | 31 December 2016 The Company | ||||||||||||
(Restated) | ||||||||||||||||
CURRENT ASSETS | ||||||||||||||||
Cash at bank and on hand | 11,143,444,139 | 10,214,184,660 | 2,099,687,485 | 2,438,373,674 | ||||||||||||
Derivative financial assets | 116,980,240 | 278,601,988 | – | – | ||||||||||||
Notes receivable | 2,497,063,242 | 2,639,365,571 | 435,761,427 | 431,185,488 | ||||||||||||
Accounts receivable | 17,401,696,670 | 17,157,638,187 | 4,718,053,409 | 4,407,465,997 | ||||||||||||
Advances to suppliers | 1,229,364,341 | 984,759,911 | 64,599,055 | 75,756,845 | ||||||||||||
Interest receivable | 22,085,309 | 22,130,336 | 31,964,076 | 32,739,114 | ||||||||||||
Dividends receivable | 605,000,000 | 724,452,796 | 1,682,585,571 | 1,766,202,528 | ||||||||||||
Other receivables | 2,259,178,569 | 5,252,966,602 | 2,662,632,985 | 2,165,962,323 | ||||||||||||
Inventories | 6,970,829,350 | 8,046,009,143 | 2,274,897,497 | 2,473,285,313 | ||||||||||||
Current portion of non-current assets | 137,700,457 | 136,304,055 | – | – | ||||||||||||
Other current assets | 2,978,695,292 | 3,203,043,082 | 6,468,452,055 | 7,710,006,668 | ||||||||||||
Total current assets | 45,362,037,609 | 48,659,456,331 | 20,438,633,560 | 21,500,977,950 | ||||||||||||
NON-CURRENT ASSETS | ||||||||||||||||
Available-for-sale financial assets | 3,649,308,492 | 3,560,927,756 | 3,531,062,490 | 3,443,356,690 | ||||||||||||
Derivative financial assets | 34,846,666 | 99,720,835 | – | – | ||||||||||||
Long-term receivables | 1,327,639,192 | 1,288,416,086 | – | – | ||||||||||||
Long-term equity investment | 19,803,310,801 | 19,715,293,180 | 76,650,657,307 | 68,855,107,466 | ||||||||||||
Fixed assets | 243,167,305,982 | 244,683,029,733 | 55,240,443,773 | 56,158,451,519 | ||||||||||||
Fixed assets pending for disposal | 85,215,275 | 84,252,620 | 79,646 | 78,287 | ||||||||||||
Construction-in-progress | 26,128,986,555 | 26,450,307,392 | 1,293,970,869 | 1,387,177,902 | ||||||||||||
Construction materials | 3,731,648,096 | 3,491,108,686 | 27,944,164 | 21,046,101 | ||||||||||||
Intangible assets | 14,277,062,912 | 14,146,113,642 | 1,606,256,497 | 1,584,581,218 | ||||||||||||
Goodwill | 12,271,917,717 | 11,975,592,060 | – | – | ||||||||||||
Long-term deferred expenses | 246,537,239 | 247,159,746 | 44,300,962 | 46,790,195 | ||||||||||||
Deferred income tax assets | 2,407,768,015 | 2,409,172,786 | �� | 251,371,314 | 286,268,222 | |||||||||||
Other non-current assets | 3,049,097,682 | 3,064,270,239 | 16,423,787,255 | 15,820,081,996 | ||||||||||||
Total non-current assets | 330,180,644,624 | 331,215,364,761 | 155,069,874,277 | 147,602,939,596 | ||||||||||||
TOTAL ASSETS | 375,542,682,233 | 379,874,821,092 | 175,508,507,837 | 169,103,917,546 |
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31 March 2017 Consolidated | 31 December 2016 Consolidated | 31 March 2017 The Company | 31 December 2016 The Company | |||||||||||||
(Restated) | ||||||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||||||||||
CURRENT LIABILITIES | ||||||||||||||||
Short-term loans | 70,024,888,021 | 68,271,074,146 | 35,480,000,000 | 31,430,000,000 | ||||||||||||
Derivative financial liabilities | 177,077,205 | 133,569,473 | – | – | ||||||||||||
Notes payable | 3,352,406,980 | 3,079,004,058 | – | – | ||||||||||||
Accounts payable | 11,626,697,163 | 12,075,280,944 | 3,360,669,581 | 3,820,923,543 | ||||||||||||
Advance from customers | 262,472,573 | 1,274,555,503 | 84,683,597 | 206,609,998 | ||||||||||||
Salary and welfare payables | 514,375,596 | 489,205,753 | 116,669,706 | 105,223,975 | ||||||||||||
Taxes payable | 1,146,882,479 | 1,424,669,239 | 124,774,325 | 287,379,395 | ||||||||||||
Interest payables | 880,589,209 | 761,841,849 | 664,248,558 | 428,747,399 | ||||||||||||
Dividends payable | 1,188,689,556 | 1,575,179,623 | – | – | ||||||||||||
Other payables | 23,594,163,936 | 20,609,472,568 | 6,794,841,712 | 2,325,601,453 | ||||||||||||
Current portion of non-current liabilities | 19,057,412,571 | 18,769,230,955 | 4,900,143,758 | 4,723,645,624 | ||||||||||||
Provision | 32,306,361 | 21,758,030 | 27,077,808 | 18,621,900 | ||||||||||||
Other current liabilities | 27,721,711,257 | 27,680,580,293 | 27,592,394,816 | 27,601,300,850 | ||||||||||||
Total current liabilities | 159,579,672,907 | 156,165,422,434 | 79,145,503,861 | 70,948,054,137 | ||||||||||||
NON-CURRENT LIABILITIES | ||||||||||||||||
Long-term loans | 103,457,729,242 | 96,911,235,689 | 12,616,295,253 | 6,694,726,348 | ||||||||||||
Derivative financial liabilities | 192,550,247 | 201,169,168 | 44,693,224 | 69,903,969 | ||||||||||||
Bonds payable | 12,187,931,405 | 12,182,970,926 | 12,187,931,405 | 12,182,970,926 | ||||||||||||
Long-term payables | 1,653,773,053 | 1,706,349,058 | 70,483,802 | 78,936,350 | ||||||||||||
Long-term Employee benefits payable | 90,175,195 | 90,779,296 | 145,714 | 172,440 | ||||||||||||
Specific accounts payable | 52,658,757 | 48,135,657 | 30,974,939 | 30,051,839 | ||||||||||||
Provision (Non-current) | 52,444,000 | 52,444,000 | – | – | ||||||||||||
Deferred income | 3,820,782,004 | 3,780,306,593 | 1,846,513,213 | 1,857,343,895 | ||||||||||||
Deferred income tax liabilities | 1,385,876,074 | 1,429,859,071 | – | – | ||||||||||||
Total non-current liabilities | 122,893,919,977 | 116,403,249,458 | 26,797,037,550 | 20,914,105,767 | ||||||||||||
TOTAL LIABILITIES | 282,473,592,884 | 272,568,671,892 | 105,942,541,411 | 91,862,159,904 |
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31 March 2017 Consolidated | 31 December 2016 Consolidated | 31 March 2017 The Company | 31 December 2016 The Company | |||||||||||||
(Restated) | ||||||||||||||||
LIABILITIES AND SHAREHOLDERS’ EQUITY (continued) | ||||||||||||||||
SHAREHOLDERS’ EQUITY | ||||||||||||||||
Share capital | 15,200,383,440 | 15,200,383,440 | 15,200,383,440 | 15,200,383,440 | ||||||||||||
Capital surplus | 14,030,077,576 | 29,530,847,122 | 8,940,945,801 | 17,017,744,278 | ||||||||||||
Other comprehensive income | 917,274,381 | 700,733,756 | 1,465,877,945 | 1,379,475,802 | ||||||||||||
Special reserves | 53,525,951 | 51,427,080 | 43,004,077 | 41,537,274 | ||||||||||||
Surplus reserves | 8,186,274,738 | 8,186,274,738 | 8,186,274,738 | 8,186,274,738 | ||||||||||||
Undistributed profits | 35,457,343,275 | 34,806,789,007 | 35,729,480,425 | 35,416,342,110 | ||||||||||||
Shareholders’ equity attributable to shareholders of the Company | 73,844,879,361 | 88,476,455,143 | 69,565,966,426 | 77,241,757,642 | ||||||||||||
Non-controlling interests | 19,224,209,988 | 18,829,694,057 | – | – | ||||||||||||
Total shareholders’ equity | 93,069,089,349 | 107,306,149,200 | 69,565,966,426 | 77,241,757,642 | ||||||||||||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 375,542,682,233 | 379,874,821,092 | 175,508,507,837 | 169,103,917,546 |
Legal representative: | Person in charge of accounting function: | Person in charge of accounting department: | ||
Cao Peixi | Huang Lixin | Li Yinghui |
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HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED AND THE COMPANY INCOME STATEMENTS (PRC GAAP)
FOR THE FIRST QUARTER ENDED 31 MARCH, 2017
Amounts: In RMB Yuan, except as noted
For the quarter ended 31 March 2017 Consolidated | For the quarter ended 31 March 2016 Consolidated | For the quarter ended 31 March 2017 The Company | For the quarter ended 31 March 2016 The Company | ||||||
(Restated) | |||||||||
Operating revenue | 37,577,079,025 | 34,943,310,711 | 10,750,700,409 | 10,151,768,593 | |||||
Less: | Operating cost | 32,953,324,536 | 23,783,662,561 | 9,337,922,698 | 6,574,174,214 | ||||
Tax and levies | 313,714,151 | 336,039,771 | 109,504,442 | 117,564,952 | |||||
Selling expenses | 2,802,414 | 776,023 | 777,282 | – | |||||
General and administrative expenses | 884,601,239 | 1,152,769,712 | 405,320,993 | 502,313,445 | |||||
Financial expenses | 2,176,396,597 | 2,155,160,230 | 841,961,205 | 924,076,099 | |||||
Asset impairment loss | 174,376 | 7,436,393 | – | – | |||||
Add: | Loss on fair value changes of financial assets/liabilities | (6,759,821) | (29,459) | – | – | ||||
Investment income | 111,992,755 | 1,510,747,806 | 277,946,924 | 442,994,291 | |||||
Including: Investment income from associates and joint ventures | 94,947,154 | 220,286,236 | 23,117,235 | 144,976,547 | |||||
Operating profit | 1,351,298,646 | 9,018,184,368 | 333,160,713 | 2,476,634,174 | |||||
Add: | Non-operating income | 119,445,526 | 94,802,999 | 47,327,982 | 41,998,092 | ||||
Including: gain on disposals of non-current assets | 568,989 | 684,714 | 6,410 | 253,456 | |||||
Less: | Non-operating expenses | 7,826,823 | 9,050,750 | 753,874 | 1,708,899 | ||||
Including: loss on disposals of non-current assets | 861,613 | 1,054,473 | 36,179 | 264,849 | |||||
Profit before tax | 1,462,917,349 | 9,103,936,617 | 379,734,821 | 2,516,923,367 | |||||
Less: | Income tax expense | 493,018,593 | 2,233,905,666 | 65,171,506 | 595,658,672 | ||||
Net profit | 969,898,756 | 6,870,030,951 | 314,563,315 | 1,921,264,695 | |||||
Including: | Net profit generated by acquiree before business combination under common control | – | 1,873,873,906 | – | – | ||||
Attributable to: | |||||||||
Shareholders of the Company | 651,979,268 | 5,004,567,025 | 314,563,315 | 1,921,264,695 | |||||
Non-controlling interests | 317,919,488 | 1,865,463,926 | – | – | |||||
Earnings per share (based on the net profit attributable to shareholders of the Company) | |||||||||
– Basic earnings per share | 0.04 | 0.33 | – | – | |||||
– Diluted earnings per share | 0.04 | 0.33 | – | – |
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Other comprehensive income/(loss), net of tax | 215,761,690 | 448,612,352 | 86,402,143 | (265,796,147) | ||||
Other comprehensive income (net of tax) attributed to shareholders of the company that may be reclassified to profit or loss | 216,540,625 | 448,147,776 | 86,402,143 | (265,796,147) | ||||
Including: | ||||||||
Gains or losses arising from changes in fair value of available-for-sale financial assets | 66,222,637 | (247,257,360) | 65,779,350 | (247,257,360) | ||||
Share of other comprehensive income of the equity-accounted investee | 1,714,734 | (12,094,690) | 1,714,734 | (12,094,690) | ||||
Effective hedging portion of Gain or losses arising from cash flow hedging instruments | (212,910,866) | 176,493,265 | 18,908,059 | (6,444,097) | ||||
Translation differences of the financial statements of foreign operations | 361,514,120 | 531,006,561 | – | – | ||||
Other comprehensive income (net of tax) attributable to non-controlling interests | (778,935) | 464,576 | – | – | ||||
Total comprehensive income | 1,185,660,446 | 7,318,643,303 | 400,965,458 | 1,655,468,548 | ||||
Attributable to: | ||||||||
Shareholders of the Company | 868,519,893 | 5,452,714,801 | 400,965,458 | 1,655,468,548 | ||||
Non-controlling interests | 317,140,553 | 1,865,928,502 | – | – |
Legal representative: | Person in charge of accounting function: | Person in charge of accounting department: | ||
Cao Peixi | Huang Lixin | Li Yinghui |
13
HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED AND THE COMPANY CASH FLOW STATEMENTS (PRC GAAP)
FOR THE FIRST QUARTER ENDED 31 MARCH, 2017
Amounts: In RMB Yuan, except as noted
Items | For the quarter ended 31 March 2017 Consolidated | For the quarter ended 31 March 2016 Consolidated | For the quarter ended 31 March 2017 The Company | For the quarter ended 31 March 2016 The Company | ||||||||||||
(Restated) | ||||||||||||||||
Cash flows generated from operating activities | ||||||||||||||||
Cash received from sales of goods and services rendered | 41,165,577,375 | 40,599,487,518 | 11,616,392,800 | 11,916,608,905 | ||||||||||||
Cash received from return of taxes and fees | 9,490,289 | 19,897,723 | – | – | ||||||||||||
Other cash received relating to operating activities | 232,814,585 | 385,979,943 | 8,414,707 | 224,147,181 | ||||||||||||
Sub-total of cash inflows of operating activities | 41,407,882,249 | 41,005,365,184 | 11,624,807,507 | 12,140,756,086 | ||||||||||||
Cash paid for goods and services received | 28,493,292,193 | 19,199,142,320 | 9,164,096,635 | 5,938,914,826 | ||||||||||||
Cash paid to and on behalf of employees including salary, social welfare, education funds and others in such manner | 2,255,089,291 | 2,418,888,702 | 853,855,510 | 829,647,162 | ||||||||||||
Payments of taxes | 2,443,659,059 | 4,566,528,009 | 803,474,070 | 1,347,860,381 | ||||||||||||
Other cash paid relating to operating activities | 566,847,396 | 399,497,308 | 258,328,598 | 211,529,322 | ||||||||||||
Sub-total of cash outflows of operating activities | 33,758,887,939 | 26,584,056,339 | 11,079,754,813 | 8,327,951,691 | ||||||||||||
Net cash flows generated from operating activities | 7,648,994,310 | 14,421,308,845 | 545,052,694 | 3,812,804,395 | ||||||||||||
Cash flows used in investing activities | ||||||||||||||||
Cash received from withdrawal of investment | 741,000,000 | – | 656,000,000 | 2,960,100,000 | ||||||||||||
Cash received on investment income | 135,181,300 | 279,553,763 | 338,446,647 | 694,773,538 | ||||||||||||
Net cash received from disposals of fixed assets, intangible assets and other long-term assets | 4,069,937 | 17,499,503 | 566,105 | 3,315,833 | ||||||||||||
Net cash received from disposals of subsidiaries | – | 981,431,545 | – | – | ||||||||||||
Other cash received relating to investing activities | 18,826,840 | 518,503 | – | – | ||||||||||||
Sub-total of cash inflows of investing activities | 899,078,077 | 1,279,003,314 | 995,012,752 | 3,658,189,371 | ||||||||||||
Cash paid for acquiring fixed assets, intangible assets and other long-term assets | 4,908,333,996 | 5,906,301,416 | 472,745,835 | 957,634,050 | ||||||||||||
Cash paid for investments | 5,000,000 | 656,560,800 | 10,947,596,516 | 478,264,000 | ||||||||||||
Net cash paid for acquiring subsidiaries | 5,975,034,785 | – | – | – | ||||||||||||
Other cash paid relating to investing activities | 3,953,115 | 74,074,141 | – | – | ||||||||||||
Sub-total of cash outflows of investing activities | 10,892,321,896 | 6,636,936,357 | 11,420,342,351 | 1,435,898,050 | ||||||||||||
Net cash flows (used in)/provided by investing activities | (9,993,243,819 | ) | (5,357,933,043 | ) | (10,425,329,599 | ) | 2,222,291,321 |
14
Items | For the quarter ended 31 March 2017 Consolidated | For the quarter ended 31 March 2016 Consolidated | For the quarter ended 31 March 2017 The Company | For the quarter ended 31 March 2016 The Company | ||||||||||||
(Restated) | ||||||||||||||||
Cash flows used in financing activities | ||||||||||||||||
Cash received from investments | 77,296,700 | 21,700,000 | – | – | ||||||||||||
Including: cash received from non-controlling interests of subsidiaries | 77,296,700 | 21,700,000 | – | – | ||||||||||||
Cash received from borrowings | 44,898,522,845 | 21,001,564,280 | 35,422,940,000 | 10,200,000,000 | ||||||||||||
Cash received from issuance of bonds | 9,988,679,245 | 6,000,000,000 | 9,988,679,245 | 6,000,000,000 | ||||||||||||
Other cash received relating to financing activities | 70,517,734 | 28,890,951 | 48,345,464 | 10,238,903 | ||||||||||||
Sub-total of cash inflows of financing activities | 55,035,016,524 | 27,052,155,231 | 45,459,964,709 | 16,210,238,903 | ||||||||||||
Repayments of borrowings | 46,753,048,728 | 33,833,112,688 | 35,266,153,239 | 20,543,126,424 | ||||||||||||
Payments for dividends, profit or interest expense | 2,619,561,222 | 2,202,246,042 | 618,147,901 | 623,026,816 | ||||||||||||
Including: dividends paid to non-controlling interests of subsidiaries | 386,490,067 | 3,760,001 | – | – | ||||||||||||
Other cash paid relating to financing activities | 56,046,987 | 59,871,031 | 22,075,472 | 18,000,000 | ||||||||||||
Sub-total of cash outflows of financing activities | 49,428,656,937 | 36,095,229,761 | 35,906,376,612 | 21,184,153,240 | ||||||||||||
Net cash flows provided by/(used in) financing activities | 5,606,359,587 | (9,043,074,530 | ) | 9,553,588,097 | (4,973,914,337 | ) | ||||||||||
Effect of exchange rate fluctuations on cash held | 28,909,385 | 40,060,711 | (23,951 | ) | – | |||||||||||
Net increase/(decrease) in cash | 3,291,019,463 | 60,361,983 | (326,712,759 | ) | 1,061,181,379 | |||||||||||
Add: cash at beginning of period | 7,810,500,999 | 10,699,080,919 | 2,415,460,603 | 2,260,430,516 | ||||||||||||
Cash at end of period | 11,101,520,462 | 10,759,442,902 | 2,088,747,844 | 3,321,611,895 |
Legal representative: | Person in charge of accounting function: | Person in charge of accounting department: | ||
Cao Peixi | Huang Lixin | Li Yinghui |
15
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the under-signed, thereunto duly authorized.
HUANENG POWER INTERNATIONAL, INC. | ||
By /s/ Du Daming | ||
Name: | Du Daming | |
Title: | Company Secretary |
Date: April 26, 2017