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DATANG INTERNATIONAL POWER GENERATION COMPANY LD - Third Quarterly Report 2015DATANG INTERNATIONAL POWER GENERATION COMPANY LD - Third Quarterly Report 2015
PR Newswire
London, October 29
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, 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 announcement.
DATANG INTERNATIONAL POWER GENERATION CO., LTD.(a sino-foreign joint stock limited company incorporated in the People's Republic of China)(Stock Code: 00991)
OVERSEAS REGULATORY ANNOUNCEMENT
AND
INSIDE INFORMATION
THIRD QUARTERLY REPORT OF 2015
In accordance with the requirements of the China Securities Regulatory Commission, Datang International Power Generation Co., Ltd. (the "Company") is required to publish quarterly reports for the first and third quarters of the year.
The financial information contained in this quarterly report is unaudited, and was prepared in accordance with the China Accounting Standards for Business Enterprises ("PRC GAAP").
This announcement is made by the Company pursuant to the Inside Information Provisions (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules")), under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and Rules 13.09(2) (a) and 13.10(B) of the Listing Rules.
1 IMPORTANT NOTICE
1.1 The board of directors (the "Board"), the supervisory committee, the directors, the supervisors and senior management members of the Company warrant that the information herein contained is true, accurate and complete and there are no false representations, misleading statements contained in or material omissions from this quarterly report, and severally and jointly accept the legal responsibility.
1.2 Directors absent from the Board meeting:
| Names of absentdirector | Position of absentdirector | Reason(s) for absence | Name of proxy |
| Chen Jinhang | Chairman | Business engagement | Wu Jing |
| Hu Shengmu | Director | Business engagement | Wu Jing |
| Liang Yongpan | Director | Business engagement | Ying Xuejun |
| Cao Xin | Director | Business engagement | Cai Shuwen |
| Guan Tiangang | Director | Business engagement | Liu Haixia |
1.3 Mr. Chen Jinhang, the person-in-charge of the Company and Mr. Liu Quancheng, the person-in-charge of accounting matters and Mr. Sun Yanwen, the person-in-charge of accounting department (head of accounting department), hereby warrant the truthfulness, accuracy and completeness of the financial statements contained in this quarterly report.
1.4 The financial statements of the Company in this third quarterly report are unaudited.
2 CHANGES IN MAJOR FINANCIAL DATA AND SHAREHOLDERS OF THE COMPANY
2.1 Major financial data
Unit: RMB'000 Currency: RMB
| At the end of the reporting period | At the end of the previous year | Increase/decrease at the end of the reporting period as compared to the end of the previous year (%) | |
| Total assets | 300,105,173 | 302,431,367 | -0.77 |
| Net assets attributable to equity holders of the Company | 45,801,937 | 43,803,449 | 4.56 |
| Beginning of the year to the end of the reporting period(Jan - Sep) | Beginning of the previous year to the end of the previous reportingperiod(Jan - Sep) | Increase/decrease as compared to the corresponding period of the previous year (%) | |
| Net cash flows generated from operating activities | 21,603,710 | 22,582,366 | -4.33 |
| Beginning of the year to the end of the reporting period(Jan - Sep) | Beginning of the previous year to the end of the previous reporting period (Jan - Sep) | Increase/decrease as compared to the corresponding period of the previous year (%) | |
| Operating revenue | 47,095,939 | 52,312,851 | -9.97 |
| Net profit attributable to equity holders of the Company | 3,586,968 | 3,664,110 | -2.11 |
| Net profit attributable to equity holders of the Company after excluding non-recurring profit/ loss items | 3,383,496 | 3,545,433 | -4.57 |
| Return on net assets (weighted average) (%) | 7.95 | 8.10 | Decrease of 0.15percentage points |
| Basic earnings per share (RMB/share) | 0.2695 | 0.2753 | -2.10 |
| Diluted earnings per share (RMB/share) | 0.2695 | 0.2753 | -2.10 |
Excluding non-recurring profit/loss items and amounts
Unit: RMB'000 Currency: RMB
| Items | Amount for the period(Jul - Sep) | Amount from the beginning of the year to the end of the reporting period(Jan - Sep) | Notes |
| Profit/loss from disposal of non-current assets | 2,923 | 5,842 | |
| Government's grants accounted for in the profit and loss account for the reporting period (except for those closely related to the Company's ordinary course of business, in compliance with the State's policies and regulations and granted in fixed amount or quantity specified by certain standards) | 35,415 | 120,656 | |
| Profit/loss from debt restructuring | - | 982 | |
| Profit/loss gained from loans entrusted to external entities | 1,525 | 29,049 | |
| Other non-operating income and expenses excluding the above-mentioned items | 12,100 | 41,982 | |
| Other profit/loss items conforming with the definition of non-recurring profit or loss | 11,109 | 124,756 | |
| Impact of income tax | -10,629 | -75,012 | |
| Effects of minority shareholders' interest (after tax) | -21,196 | -44,783 | |
| Total | 31,247 | 203,472 |
2.2 Total number of shareholders, top ten shareholders and shareholding of the top ten holders of circulating shares (or holders of shares free from selling restrictions) as at the end of the reporting period
Unit: share
| Total number of shareholders | 267,953 | ||||||||
| Shareholding of the top ten shareholders | |||||||||
| Name of shareholder (Full name) | Number of shares held at the end of the reporting period | Shareholding percentage (%) | Number of shares held with selling restrictions | Pledged or frozen shares | Nature of shareholder | ||||
| Status | Number | ||||||||
| China Datang Corporation ("CDC") | 4,138,977,414 | 31.10 | Unknown | 49,000,000 | State owned legal person | ||||
| HKSCC Nominees Limited | 3,295,076,919 | 24.76 | Nil | Foreign legal person | |||||
| Tianjin Jinneng Investment Company | 1,296,012,600 | 9.74 | Nil | State owned legal person | |||||
| Hebei Construction & Investment Group Co., Ltd. | 1,281,872,927 | 9.63 | Nil | State owned legal person | |||||
| Beijing Energy Investment (Group) Company Limited | 1,260,988,672 | 9.47 | Nil | State owned legal person | |||||
| China Securities Finance Corporation Limited | 387,353,765 | 2.91 | Nil | State owned legal person | |||||
| Zhongrong Hui Investment Guarantee Co., Ltd. | 160,000,000 | 1.20 | Nil | Others | |||||
| Central Huijin Investment Ltd. | 76,904,200 | 0.58 | Nil | State-owned legal person | |||||
| Aerospace Science & Technology Finance Co., Ltd. | 54,901,264 | 0.41 | Nil | State-owned legal person | |||||
| Hong Kong Securities Clearing Company Limited | 19,921,874 | 0.15 | Nil | Foreign legal person | |||||
| Shareholding of the top ten holders of shares free from selling restrictions | |||||||||
| Name of shareholder | Number of circulating shares held not subject to selling restrictions | Class and number of shares | |||||||
| Class | Number | ||||||||
| CDC | 4,138,977,414 | RMB denominated ordinary shares | 4,138,977,414 | ||||||
| HKSCC Nominees Limited | 3,295,076,919 | Overseas-listed foreign shares | 3,295,076,919 | ||||||
| Tianjin Jinneng Investment Company | 1,296,012,600 | RMB denominated ordinary shares | 1,296,012,600 | ||||||
| Hebei Construction & Investment Group Co., Ltd. | 1,281,872,927 | RMB denominated ordinary shares | 1,281,872,927 | ||||||
| Beijing Energy Investment (Group) Company Limited | 1,260,988,672 | RMB denominated ordinary shares | 1,260,988,672 | ||||||
| China Securities Finance Corporation Limited | 387,353,765 | RMB denominated ordinary shares | 387,353,765 | ||||||
| Zhongrong Hui Investment Guarantee Co., Ltd. | 160,000,000 | RMB denominated ordinary shares | 160,000,000 | ||||||
| Central Huijin Investment Ltd. | 76,904,200 | RMB denominated ordinary shares | 76,904,200 | ||||||
| Aerospace Science & Technology Finance Co., Ltd. | 54,901,264 | RMB denominated ordinary shares | 54,901,264 | ||||||
| Hong Kong Securities Clearing Company Limited | 19,921,874 | RMB denominated ordinary shares | 19,921,874 | ||||||
| Notes on the connected relationship or acting in concert among the above shareholders | China Datang Overseas (Hong Kong) Co., Limited., a wholly-owned subsidiary of CDC, held 480,680,000 H shares of the Company as at the end of the reporting period, which were included in the shareholding of the Company held by HKSCC Nominees Limited, representing approximately 3.61% of the Company's total share capital. CDC and its parties acting in concert increased their shareholding in A shares of the Company by 8,738,600 shares on 9 July 2015, representing approximately 0.06% of the Company's total share capital. As at 30 September 2015, CDC and its subsidiaries held a total of 4,628,396,014 issued shares of the Company, representing approximately 34.77% of the Company's total issued shares. | ||||||||
2.3 Total number of holders of preference shares and the top ten holders of preference shares and shareholding of the top ten holders of preference shares (not subject to trading moratorium) as at the end of the reporting period
Applicable Not applicable
3 SIGNIFICANT MATTERS
3.1 The details of and the reasons for the material changes in the major financial statement items and financial indicators of the Company
Applicable Not applicable
(1) Notes receivables of the Company and its subsidiaries as at the end of the reporting period increased by approximately 38% over the beginning of the reporting period. This was mainly because of the increase in amount of notes used by customers for settlement.
(2) Prepayments of the Company and its subsidiaries as at the end of the reporting period increased by approximately 110% over the beginning of the reporting period. This was mainly because of the increase in prepayments for materials by some subsidiaries.
(3) Dividends receivable of the Company and its subsidiaries as at the end of the reporting period decreased by approximately 41% over the beginning of the reporting period. This was mainly because of the receipt of profits from associates (joint ventures) by the Company.
(4) Non-current assets due within one year of the Company and its subsidiaries as at the end of the reporting period decreased by approximately 90% over the beginning of the reporting period. This was mainly because of the recovery of long-term entrusted loans due within one year from associates (joint ventures) by the Company.
(5) Other current assets of the Company and its subsidiaries as at the end of the reporting period decreased by approximately 87% over the beginning of the reporting period. This was mainly because of the recovery of short-term entrusted loans from associates (joint ventures) by the Company.
(6) Salaries payable of the Company and its subsidiaries as at the end of the reporting period increased by approximately 279% over the beginning of the reporting period. This was mainly because the provision made by the Company for salaries have not been paid.
(7) Dividends payable of the Company and its subsidiaries as at the end of the reporting period increased by approximately 388% over the beginning of the reporting period. This was mainly because the distribution of profit announced by some of the subsidiaries was not yet completed.
(8) Other non-current liabilities of the Company and its subsidiaries due within one year as at the end of the reporting period decreased by approximately 33% over the beginning of the reporting period. This was mainly because of the repayment of bonds upon maturity by the Company.
(9) Other current liabilities of the Company and its subsidiaries as at the end of the reporting period increased by approximately 38% over the beginning of the reporting period. This was mainly because of the increase in issue of super short-term debentures by the Company during the period.
(10) Long-term payables of the Company and its subsidiaries as at the end of the reporting period increased by approximately 62% over the beginning of the reporting period. This was mainly because of the increase in the scale of finance leases by subsidiaries in the current period.
(11) Other comprehensive income of the Company and its subsidiaries as at the end of the reporting period decreased by approximately 84% over the beginning of the reporting period. This was mainly because of the change in fair values of shares held by the subsidiaries.
(12) Specific reserve of the Company and its subsidiaries as at the end of the reporting period increased by approximately 41% over the beginning of the reporting period. This was mainly because of the increase in the portion shared by the Company in the specific reserve of investees under equity method and the provision of unutilised amounts by subsidiaries.
(13) Undistributed profits of the Company and its subsidiaries as at the end of the reporting period increased by approximately 43% over the beginning of the reporting period. This was mainly affected by the profit for the current period of the Company and its subsidiaries.
(14) Investment gains of the Company and its subsidiaries for the nine months ended 30 September 2015 increased by approximately 57% over the corresponding period of the previous year. This was mainly because of the increase in profit of associates (joint ventures) in the current period.
(15) Non-operating income of the Company and its subsidiaries for the nine months ended 30 September 2015 increased by approximately 196% over the corresponding period of the previous year. This was mainly because of the increase in amortisation of deferred gains for the current period over the corresponding period of the previous year.
(16) Net cash flows generated from investing activities of the Company and its subsidiaries for the nine months ended 30 September 2015 increased by approximately 42% over the corresponding period of the previous year. This was mainly because of the reduction in infrastructure investment cost in the current period.
(17) Net cash flows generated from financing activities of the Company and its subsidiaries for the nine months ended 30 September 2015 decreased by approximately 92% over the corresponding period of the previous year. This was mainly because of the increase in cash for the repayment of liabilities.
3.2 The analysis and explanation of progress and impact of major events and solutions
Applicable Not applicable
On 7 July 2014, the Company and China Reform Holdings Corporation Ltd. entered into the reorganisation framework agreement, which involved the reorganisation of the coal-to-chemical segment and related projects of the Company, including Datang Inner Mongolia Duolun Coal Chemical Company Limited, Inner Mongolia Datang International Keshiketeng Qi Coal-based Gas Company Limited, Liaoning Datang International Fuxin Coal-to-gas Company Ltd, Datang Hulunbeier Chemical Fertiliser Co., Ltd., Inner Mongolia Datang International Xilinhaote Mining Co., Ltd. and the respective ancillary facilities and affiliated projects.
At present, the reorganisation is in steady progress.
3.3 The performance of the undertakings made by the Company and shareholders with equity interests higher than 5%
Applicable Not applicable
| Background of undertakings | Type of undertakings | The party making the undertakings | Contents of undertakings | Date and duration of undertakings | Is there performanceduration? | Are theytimely andstrictlyperformed? |
| Undertakings in relation to initial public issue | Resolve business competition | CDC | Note 1 on contents of undertakings | 2006, valid for a long term | Yes | Yes |
| Undertakings in relation to refinancing | Resolve business competition | CDC | Note 2 on contents of undertakings | 2010, valid for a long term | Yes | Yes |
Notes on contents of undertakings:
1. CDC made an undertaking at the initial public issue of A shares by the Company in 2006: CDC would follow the principle of not constituting direct or indirect business competition with the Company during its development, disposal or acquisition of power projects or power assets; in the course of development or disposal of its existing power projects or power assets within its business and operation scope, CDC agreed that the Company shall have a preferential right to develop or acquire relevant projects or assets in the intended areas of development; CDC warranted that it would not take any action which constitutes a direct or indirect competition with the Company in respect of power projects intended to be developed and acquired by the Company in the future; in respect of any substantive business competition between CDC and the Company, CDC agreed to enter into agreement with the Company to resolve possible issues on the business competition constituted via all appropriate means, including entrusted operation or acquisition of such power projects or assets by the Company.
2. The Company received an "Undertaking on Relevant Matters regarding Further Avoidance of Business Competition with Datang International Power Generation Co., Ltd. by China Datang Corporation" from CDC, its controlling shareholder, in October 2010. For further avoidance of business competition with the Company, CDC undertakes that: (1) CDC confirms that the Company shall be the ultimate platform for integrating the coal-fired power businesses of CDC; (2) in respect of the non-listed coal-fired power assets of CDC, CDC undertakes that it will inject those assets into the Company in 5 to 8 years when the profitability of such assets has improved and the relevant conditions are met; (3) in respect of the coal-fired power business assets of CDC located in Hebei Province, CDC undertakes that it will inject those assets into the Company in approximately 5 years when the profitability of such assets has improved and the relevant conditions are met; (4) CDC will continue to perform each of its undertakings previously given to support the development of its subordinated listed companies.
The Company received a "Description of the Perfection of Undertakings made by China Datang Corporation to Datang International Power Generation Co., Ltd." from CDC in June 2014, the specifications for the relevant undertakings were as follows:
(1) Terms of the undertakings: (i) in respect of the coal-fired power business assets of CDC located in Hebei Province, CDC undertakes that it will inject those assets into the Company no later than around October 2015 when the profitability of such assets has improved and the relevant conditions are met; (ii) in respect of the non-listed coal-fired power assets of CDC (except the coal-fired power business assets located in Hebei Province), CDC undertakes that it will inject those assets into the Company no later than around October 2018 when the profitability of such assets has improved and the relevant conditions are met.
(2) Conditions for injection: the coal-fired power assets to be injected by the CDC shall satisfy the following conditions at the same time: (i) there exists no trend of adverse changes such as decline of expected profitability of the company in respect of the assets to be injected; (ii) after the injection of the assets, it shall be beneficial for the enhancement of assets quality of the listed company, strengthening of the sustainable profitability of the company and improvement of the company's financial condition, among which, the earnings per share or return of net assets of the listed company shall be on a rising trend; (iii) the assets to be injected shall comply with the requirements of the national laws, regulation, department rules and regulatory authorities, including clear titles and all the approval procedures being completed.
In May 2015, the Company received a "Letter on Further Determination of Relevant Undertakings" from CDC, and the specifications for the relevant undertakings were as follows:
(1) Term of the undertakings: (i) in respect of the coal-fired power business assets of CDC located in Hebei Province, CDC will inject those assets into the Company no later than around October 2015 when the profitability of such assets has improved and the relevant conditions are met; (ii) in respect of the non-listed coal-fired power assets of CDC (except for the coal-fired power business assets located in Hebei Province and Hunan Province), CDC will inject those assets into the Company no later than around October 2018 when the profitability of such assets has improved and the relevant conditions are met.
(2) Conditions for injection: the coal-fired power assets to be injected by the CDC shall satisfy the following conditions at the same time: (i) there exists no trend of adverse changes such as decline of expected profitability of the Company in respect of the assets to be injected; (ii) after the injection of the assets, it shall be beneficial for the enhancement of assets quality of the listed company, strengthening of the sustainable profitability of the Company and improvement of the Company's financial condition, among which, the earnings per share or return of net assets of the listed company shall be on a rising trend; (iii) the assets to be injected shall comply with the requirement of the national laws, regulations, department rules and provisions of regulatory authorities, including clear titles and all the approval procedures being completed.
In September 2015, the Company received a "Letter on the Alternation of Relevant Undertakings" from CDC, and the alternation for the relevant undertakings were altered as follows:
(1) Term of the undertakings: (i) in respect of the coal-fired power business assets of CDC located in Hebei Province, CDC proposed to, after the outcome of the coal-to-chemical reorganisation becomes definite, inject those assets into the Company no later than around October 2018 when the profitability of such assets has improved and the relevant conditions are met; (ii) in respect of the non-listed coal-fired power assets of CDC (except for the coal-fired power business assets located in Hebei Province and Hunan Province), CDC will inject those assets into the Company no later than around October 2018 when the profitability of such assets has improved and the relevant conditions are met.
(2) Conditions for injection: the coal-fired power assets to be injected by the CDC shall satisfy the following conditions at the same time: (i) there exists no trend of adverse changes such as decline of expected profitability of the Company in respect of the assets to be injected; (ii) after the injection of the assets, it shall be beneficial for the enhancement of assets quality of the listed company, strengthening of the sustainable profitability of the Company and improvement of the Company's financial condition, among which, the earnings per share or return of net assets of the listed company shall be on a rising trend; (iii) the assets to be injected shall comply with the requirements of the national laws, regulations, department rules and provisions of regulatory authorities, including clear titles and all the approval procedures being completed.
3.4 The warning and explanation in the forecast of the possible aggregate net profits from the beginning of the year to the end of the next reporting period becoming a loss or significant changes over the corresponding period of the previous year.
Applicable Not applicable
By Order of the Board Ying Xuejun Acting Company Secretary
Beijing, the PRC, 29 October 2015
As at the date of this announcement, the directors of the Company are:
Chen Jinhang, Hu Shengmu, Wu Jing, Liang Yongpan, Ying Xuejun, Cao Xin, Cai Shuwen,Liu Haixia, Guan Tiangang, Yang Wenchun,Jiang Guohua*, Feng Genfu*, Luo Zhongwei*, Liu Huangsong*, Jiang Fuxiu*
* Independent non-executive directors
4 APPENDIX
4.1 Financial statements
| Consolidated Balance Sheet | ||
| 30 September 2015 | ||
| Prepared by: Datang International Power Generation Co., Ltd. | ||
| Unit: RMB'000 Currency: RMB Audit Type: Unaudited | ||
| Item | Closing balance | Opening balance |
| Current assets: | ||
| Cash balance | 5,485,293 | 5,288,498 |
| Notes receivables | 697,535 | 504,789 |
| Accounts receivables | 6,741,022 | 9,500,035 |
| Prepayments | 1,134,374 | 541,256 |
| Dividend receivable | 261,350 | 444,125 |
| Other receivables | 2,918,544 | 2,617,731 |
| Inventories | 3,743,000 | 3,744,420 |
| Non-current assets due within one year | 39,162 | 385,984 |
| Other current assets | 111,596 | 831,715 |
| Total current assets | 21,131,876 | 23,858,553 |
| Non-current assets: | ||
| Available-for-sale financial assets | 4,773,750 | 5,013,944 |
| Long-term receivables | 202,168 | 224,126 |
| Long-term equity investments | 13,800,987 | 12,831,367 |
| Investment properties | 575,611 | 590,580 |
| Fixed assets | 164,319,591 | 165,013,373 |
| Construction-in-progress | 79,827,034 | 78,895,510 |
| Construction materials | 5,357,506 | 5,763,362 |
| Disposal of fixed assets | 12,868 | |
| Intangible assets | 6,633,014 | 6,655,593 |
| Development expenses | 11 | 31 |
| Goodwill | 899,886 | 899,886 |
| Long-term deferred expenses | 793,458 | 861,265 |
| Deferred income tax assets | 1,309,217 | 1,355,564 |
| Other non-current assets | 468,196 | 468,213 |
| Total non-current assets | 278,973,297 | 278,572,814 |
| Total assets | 300,105,173 | 302,431,367 |
| Current liabilities: | ||
| Short-term borrowings | 10,597,546 | 13,753,134 |
| Notes payable | 2,129,968 | 2,309,388 |
| Accounts payable | 18,875,047 | 22,302,079 |
| Receipts in advance | 389,538 | 314,012 |
| Salaries payable | 632,665 | 166,798 |
| Taxes payable | -3,318,135 | -3,010,557 |
| Interests payable | 851,467 | 1,049,234 |
| Dividends payable | 491,353 | 100,595 |
| Other payables | 2,565,554 | 2,485,985 |
| Non-current liabilities due within one year | 14,279,464 | 21,290,822 |
| Other current liabilities | 15,210,375 | 11,000,000 |
| Total current liabilities | 62,704,842 | 71,761,490 |
| Non-current liabilities: | ||
| Long-term borrowings | 134,988,057 | 137,691,639 |
| Debentures payables | 15,405,919 | 15,394,158 |
| Long-term payables | 18,472,061 | 11,379,836 |
| Specific payables | 550 | 550 |
| Accrued liabilities | 42,191 | 42,191 |
| Deferred income | 3,006,984 | 2,436,534 |
| Deferred income tax liabilities | 582,535 | 617,218 |
| Total non-current liabilities | 172,498,297 | 167,562,126 |
| Total liabilities | 235,203,139 | 239,323,616 |
| Shareholders' equity: | ||
| Share capital | 13,310,038 | 13,310,038 |
| Capital surplus | 10,861,355 | 10,770,031 |
| Other comprehensive income | 16,707 | 102,891 |
| Specific reserve | 466,423 | 329,738 |
| Surplus reserve | 17,826,954 | 16,968,603 |
| Undistributed profits | 3,320,460 | 2,322,148 |
| Total shareholders' equity interest attributable to the parent company | 45,801,937 | 43,803,449 |
| Minority interests | 19,100,097 | 19,304,302 |
| Total shareholders' equity | 64,902,034 | 63,107,751 |
| Total liabilities and shareholders' equity | 300,105,173 | 302,431,367 |
Person-in-charge of the Company: Chen JinhangPerson-in-charge of accounting matters: Liu QuanchengPerson-in-charge of the accounting institution: Sun Yanwen
| Balance Sheet of the Parent Company | ||
| 30 September 2015 | ||
| Prepared by: Datang International Power Generation Co., Ltd. | ||
| Unit: RMB'000 Currency: RMB Audit Type: Unaudited | ||
| Item | Closing balance | Opening balance |
| Current assets: | ||
| Cash balance | 923,632 | 2,179,471 |
| Notes receivables | 43,589 | |
| Accounts receivables | 904,049 | 1,454,162 |
| Prepayments | 19,260 | 5,177 |
| Dividends receivables | 834,470 | 932,820 |
| Other receivables | 679,891 | 670,090 |
| Inventories | 152,270 | 268,306 |
| Non-current assets due within one year | 3,600,000 | 4,335,706 |
| Other current assets | 6,885,904 | 5,521,505 |
| Total current assets | 13,999,476 | 15,410,826 |
| Non-current assets: | ||
| Available-for-sale financial assets | 3,922,427 | 3,922,427 |
| Long-term equity investments | 50,048,480 | 48,033,102 |
| Investment properties | 218,956 | 225,125 |
| Fixed assets | 10,201,472 | 10,847,220 |
| Construction-in-progress | 4,889,146 | 4,321,513 |
| Construction materials | 241,421 | 238,187 |
| Intangible assets | 743,938 | 756,085 |
| Goodwill | 33,561 | 33,561 |
| Deferred income tax assets | 146,344 | 146,344 |
| Other non-current assets | 9,403,699 | 11,019,718 |
| Total non-current assets | 79,849,444 | 79,543,282 |
| Total assets | 93,848,920 | 94,954,108 |
| Current liabilities: | ||
| Short-term borrowings | 2,000,000 | 500,000 |
| Accounts payables | 1,768,752 | 1,793,168 |
| Receipts in advance | 323 | 547 |
| Salaries payables | 289,277 | 25,458 |
| Taxes payables | 159,198 | 287,164 |
| Interests payables | 586,521 | 715,420 |
| Dividends payables | 248 | |
| Other payables | 690,182 | 520,389 |
| Non-current liabilities due within one year | 334,200 | 5,177,369 |
| Other current liabilities | 14,000,000 | 11,000,000 |
| Total current liabilities | 19,828,701 | 20,019,515 |
| Non-current liabilities: | ||
| Long-term borrowings | 10,590,400 | 14,912,600 |
| Debentures payables | 15,405,919 | 15,394,158 |
| Long-term payables | 17,150 | 21,000 |
| Deferred income | 475,349 | 483,835 |
| Total non-current liabilities | 26,488,818 | 30,811,593 |
| Total liabilities | 46,317,519 | 50,831,108 |
| Shareholders' equity: | ||
| Share capital | 13,310,038 | 13,310,038 |
| Capital surplus | 9,950,531 | 9,937,191 |
| Other comprehensive income | 17,507 | 17,507 |
| Specific reserve | 388,816 | 283,854 |
| Surplus reserve | 17,864,390 | 17,006,037 |
| Undistributed profits | 6,000,119 | 3,568,373 |
| Total shareholders' equity | 47,531,401 | 44,123,000 |
| Total liabilities and shareholders' equity | 93,848,920 | 94,954,108 |
Person-in-charge of the Company: Chen JinhangPerson-in-charge of accounting matters: Liu QuanchengPerson-in-charge of the accounting institution: Sun Yanwen
| Consolidated Income Statement | ||||
| January 2015 to September 2015 | ||||
| Prepared by: Datang International Power Generation Co., Ltd. | ||||
| Unit: RMB'000 Currency: RMB Audit Type: Unaudited | ||||
| Item | Amount for the reporting period(Jul - Sep) | Amount for the corresponding period of the previous year(Jul - Sep) | Amount for the period from the beginning of the year to the end of the reporting period(Jan - Sep) | Amount for the period from the beginning of the previous year to the end of the corresponding period of the previous year(Jan - Sep) |
| 1. Operating revenue | 15,487,375 | 17,470,304 | 47,095,939 | 52,312,851 |
| Including: Operating revenue | 15,487,375 | 17,470,304 | 47,095,939 | 52,312,851 |
| 2. Operating costs | 14,042,850 | 15,263,932 | 42,640,953 | 46,478,406 |
| Including: Operating costs | 11,127,972 | 11,784,321 | 33,478,522 | 36,682,107 |
| Business tax and surcharges | 177,581 | 172,711 | 542,905 | 533,780 |
| Selling expenses | 27,137 | 182,541 | 116,853 | 367,308 |
| General and administrative expenses | 763,247 | 970,127 | 2,391,720 | 2,549,625 |
| Financial expenses | 1,969,453 | 2,154,232 | 6,133,493 | 6,345,586 |
| Loss on impairment of assets | -22,540 | -22,540 | ||
| Add: Investment income (loss stated with "-") | 639,223 | 568,120 | 1,266,891 | 808,487 |
| Including: Investment income from associates and joint ventures | 572,904 | 538,799 | 1,059,125 | 692,940 |
| 3. Operating profit (loss stated with "-") | 2,083,748 | 2,774,492 | 5,721,877 | 6,642,932 |
| Add: Non-operating income | 646,746 | 163,400 | 1,114,785 | 376,022 |
| Less: Non-operating expenses | 13,322 | 14,649 | 15,898 | 15,019 |
| Including: Loss from the disposal of non-current assets | 10 | |||
| 4. Total profit (total loss stated with "-") | 2,717,172 | 2,923,243 | 6,820,764 | 7,003,935 |
| Less: Income tax | 749,006 | 658,208 | 2,197,398 | 1,922,919 |
| 5. Net profit (net loss stated with "-") | 1,968,166 | 2,265,035 | 4,623,366 | 5,081,016 |
| Net profit attributable to owners of the parent company | 1,542,662 | 1,684,623 | 3,586,968 | 3,664,110 |
| Minority interests | 425,504 | 580,412 | 1,036,398 | 1,416,906 |
| 6. Other comprehensive income after tax (net) | -94,720 | 67,562 | -72,844 | -43,647 |
| Other comprehensive income after tax attributable to owners of the parent company (net) | -94,720 | 67,562 | -72,844 | -43,647 |
| (1) Other comprehensive income that cannot be reclassified to profit and loss in subsequent periods | ||||
| 1. Changes in net liabilities or net assets arising from the re-measurement of defined benefit plans | ||||
| 2. Share of other comprehensive income of investee that cannot be reclassified to profit and loss under equity method | ||||
| (2) Other comprehensive income that will be reclassified to profit and loss in subsequent periods | -94,720 | 67,562 | -72,844 | -43,647 |
| 1. Share of other comprehensive income of investee that will be reclassified to profit and loss under equity method in subsequent periods | -22,835 | 9,129 | 13,340 | 8,233 |
| 2. Gains and losses from changes in fair value of available-for-sale financial assets | -75,089 | 58,896 | -88,576 | -53,644 |
| 3. Gains and losses from held-to-maturity investment reclassified as available- for-sale financial assets | ||||
| 4. Effective portion of hedging gains and losses from cash flows | ||||
| 5. Exchange differences from retranslation of financial statements | 3,204 | -463 | 2,392 | 1,764 |
| 6. Others | ||||
| Other comprehensive income after tax attributable to minority shareholders (net) | ||||
| 7. Total comprehensive income | 1,873,446 | 2,332,597 | 4,550,522 | 5,037,369 |
| Total comprehensive income attributable to owners of the parent company | 1,447,942 | 1,752,185 | 3,514,124 | 3,620,463 |
| Total comprehensive income attributable to minority shareholders | 425,504 | 580,412 | 1,036,398 | 1,416,906 |
| 8. Earnings per share: | ||||
| (1) Basic earnings per share (RMB/share) | 0.1159 | 0.1266 | 0.2695 | 0.2753 |
| (2) Diluted earnings per share (RMB/share) | 0.1159 | 0.1266 | 0.2695 | 0.2753 |
Person-in-charge of the Company: Chen JinhangPerson-in-charge of accounting matters: Liu QuanchengPerson-in-charge of the accounting institution: Sun Yanwen
| Consolidated Income Statement of the Parent Company | ||||
| January 2015 to September 2015 | ||||
| Prepared by: Datang International Power Generation Co., Ltd. | ||||
| Unit: RMB'000 Currency: RMB Audit Type: Unaudited | ||||
| Item | Amount for the reporting period (Jul - Sep) | Amount for the corresponding period of the previous year(Jul - Sep) | Amount for the period from the beginning of the year to the end of the reporting period(Jan - Sep) | Amount for the period from the beginning of the previous year to the end of the corresponding period of the previous year(Jan - Sep) |
| 1. Operating revenue | 2,563,787 | 2,322,801 | 7,289,587 | 7,004,615 |
| Less: Operating costs | 2,243,366 | 1,708,535 | 6,131,878 | 5,111,014 |
| Business tax and surcharges | 35,751 | 29,118 | 116,477 | 75,277 |
| Selling expenses | ||||
| General and administrative expenses | 98,845 | 48,939 | 306,206 | 333,907 |
| Financial expenses | 462,022 | 499,636 | 1,566,966 | 1,395,003 |
| Loss on impairment of assets | ||||
| Investment income (loss stated with "-") | 2,303,103 | 858,006 | 5,385,884 | 5,084,960 |
| Including: Investment income from associates and joint ventures | 542,438 | 537,849 | 1,029,737 | 698,814 |
| 2. Operating profit (loss stated with "-") | 2,026,906 | 894,579 | 4,553,944 | 5,174,374 |
| Add: Non-operating income | 401,700 | 7,248 | 692,747 | 28,029 |
| Less: Non-operating expenses | 7,817 | 6,968 | 300 | |
| 3. Total profit (total loss stated with "-") | 2,420,789 | 901,827 | 5,239,723 | 5,202,103 |
| Less: Income tax | 122,005 | 78,049 | 219,321 | 252,854 |
| 4. Net profit (net loss stated with "-") | 2,298,784 | 823,778 | 5,020,402 | 4,949,249 |
| 5. Other comprehensive income after tax (net) | -22,835 | 9,129 | 13,340 | 8,233 |
| (1) Other comprehensive income that cannot be reclassified to profit and loss in subsequent periods | ||||
| 1. Changes in net liabilities or net assets arising from the re-measurement of defined benefit plans | ||||
| 2. Share of other comprehensive income of investee that cannot be reclassified to profit and loss under equity method | ||||
| (2) Other comprehensive income that will be reclassified to profit and loss in subsequent periods | -22,835 | 9,129 | 13,340 | 8,233 |
| 1. Share of other comprehensive income of investee that will be reclassified to profit and loss under equity method in subsequent periods | -22,835 | 9,129 | 13,340 | 8,233 |
| 2. Gains and losses from changes in fair value of available-for-sale financial assets | ||||
| 3. Gains and losses from held-to-maturity investment reclassified as available-for-sale financial assets | ||||
| 4. Effective portion of hedging gains and losses from cash flows | ||||
| 5. Exchange differences from retranslation of financial statements | ||||
| 6. Others | ||||
| 6. Total comprehensive income | 2,275,949 | 832,907 | 5,033,742 | 4,957,482 |
Person-in-charge of the Company: Chen JinhangPerson-in-charge of accounting matters: Liu QuanchengPerson-in-charge of the accounting institution: Sun Yanwen
| Consolidated Cash Flow Statement | ||
| January 2015 to September 2015 | ||
| Prepared by: Datang International Power Generation Co., Ltd. | ||
| Unit: RMB'000 Currency: RMB Audit Type: Unaudited | ||
| Item | Amount for the period from the beginning of the year to the end of the reporting period(Jan - Sep) | Amount for the period from the beginning of the previous year to the end of the corresponding period of the previous year(Jan - Sep) |
| 1. Cash flows generated from operating activities: | ||
| Cash received from sales of goods and services rendered | 62,476,977 | 66,689,106 |
| Refund of taxes and levies | 120,814 | 135,885 |
| Other cash received relating to operating activities | 1,328,134 | 1,499,052 |
| Sub-total of cash inflows generating from operating activities | 63,925,925 | 68,324,043 |
| Cash paid for goods and services received | 30,573,484 | 34,156,162 |
| Cash paid to and on behalf of employees | 2,899,898 | 2,335,756 |
| Payments of all types of taxes | 7,658,686 | 6,827,505 |
| Other cash paid relating to operating activities | 1,190,147 | 2,422,254 |
| Sub-total of cash outflows from operating activities | 42,322,215 | 45,741,677 |
| Net cash flows generated from operating activities | 21,603,710 | 22,582,366 |
| 2. Cash flows generated from investing activities: | ||
| Cash received on disposals of investments | 1,361,614 | 515,791 |
| Cash received on investment income | 519,549 | 261,621 |
| Net cash received from disposals of fixed assets, intangible assets and other long-term assets | 682,614 | 1,075 |
| Net cash received from disposals of subsidiaries and other operating units | 377 | |
| Other cash received relating to investing activities | 1,169,537 | 380,910 |
| Sub-total of cash inflows from investing activities | 3,733,691 | 1,159,397 |
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 11,719,624 | 14,052,811 |
| Cash paid to acquire investments | 69,220 | 1,435,131 |
| Other cash paid relating to investing activities | 342,557 | 247,553 |
| Sub-total of cash outflows generated from investing activities | 12,131,401 | 15,735,495 |
| Net cash flows generated from investing activities | -8,397,710 | -14,576,098 |
| 3. Cash flows generated from financing activities: | ||
| Cash received from investments | 590,700 | 326,687 |
| Including: Cash received from minority shareholders' equity investment in subsidiaries | 590,700 | 326,687 |
| Cash received from borrowings | 54,924,073 | 55,163,518 |
| Cash received from issuing bonds | ||
| Other cash received relating to financing activities | 10,577,197 | 315,658 |
| Sub-total of cash inflows generated from financing activities | 66,091,970 | 55,805,863 |
| Cash paid on repayments of borrowings | 64,652,912 | 49,841,501 |
| Cash paid for dividends, profit appropriation or interest expenses | 11,429,521 | 11,324,478 |
| Including: Cash paid for dividends and profit appropriation by the subsidiaries for the minority shareholders | 1,195,199 | 1,837,070 |
| Other cash paid relating to financing activities | 2,717,105 | 1,269,924 |
| Sub-total of cash outflows generated fromfinancing activities | 78,799,538 | 62,435,903 |
| Net cash flows generated from financing activities | -12,707,568 | -6,630,040 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | -26,414 | -16,094 |
| 5. Net increase in cash and cash equivalents | 472,018 | 1,360,134 |
| Add: Cash and cash equivalents at the beginning of the reporting period | 5,013,275 | 7,880,844 |
| 6. Cash and cash equivalents at the end of the reporting period | 5,485,293 | 9,240,978 |
Person-in-charge of the Company: Chen JinhangPerson-in-charge of accounting matters: Liu QuanchengPerson-in-charge of the accounting institution: Sun Yanwen
| Consolidated Cash Flow Statement of the Parent Company | ||
| January 2015 to September 2015 | ||
| Prepared by: Datang International Power Generation Co., Ltd. | ||
| Unit: RMB'000 Currency: RMB Audit Type: Unaudited | ||
| Item | Amount for the period from the beginning of the year to the end of the reporting period(Jan - Sep) | Amount for the period from the beginning of the previous year to the end of the corresponding period of the previous year(Jan - Sep) |
| 1. Cash flows generated from operating activities: | ||
| Cash received from sales of goods and services rendered | 9,056,114 | 8,178,101 |
| Other cash received relating to operating activities | 541,737 | 484,480 |
| Sub-total of cash inflows generating from operating activities | 9,597,851 | 8,662,581 |
| Cash paid for goods and services received | 4,523,306 | 3,929,083 |
| Cash paid to and on behalf of employees | 809,723 | 724,100 |
| Payments of all types of taxes | 1,088,644 | 616,684 |
| Other cash paid relating to operating activities | 132,544 | 1,023,891 |
| Sub-total of cash outflows from operating activities | 6,554,217 | 6,293,758 |
| Net cash flows generated from operating activities | 3,043,634 | 2,368,823 |
| 2. Cash flows generated from investing activities: | ||
| Cash received on disposals of investments | 8,395,080 | 5,342,797 |
| Cash received on investment income | 4,709,371 | 3,904,822 |
| Other cash received relating to investing activities | 22,772 | 1,357 |
| Sub-total of cash inflows from investing activities | 13,127,223 | 9,248,976 |
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | 488,950 | 964,874 |
| Cash paid to acquire investments | 8,529,964 | 10,389,094 |
| Net cash paid on acquisition of subsidiaries and other operating entities | ||
| Other cash paid relating to investing activities | 283,845 | 173,291 |
| Sub-total of cash outflows generated from investing activities | 9,302,759 | 11,527,259 |
| Net cash flows generated from investing activities | 3,824,464 | -2,278,283 |
| 3. Cash flows generated from financing activities: | ||
| Cash received from borrowings | 31,006,216 | 21,680,000 |
| Other cash received relating to financing activities | 112,429 | 150,196 |
| Sub-total of cash inflows generated from financing activities | 31,118,645 | 21,830,196 |
| Cash paid on repayments of borrowings | 35,676,216 | 20,437,200 |
| Cash paid for dividends, profit appropriation or interest expenses | 3,541,303 | 3,355,089 |
| Other cash paid relating to financing activities | 25,063 | 14,825 |
| Sub-total of cash outflows generated from financing activities | 39,242,582 | 23,807,114 |
| Net cash flows generated from financing activities | -8,123,937 | -1,976,918 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | -993 | |
| 5. Net increase in cash and cash equivalents | -1,255,839 | -1,887,371 |
| Add: Cash and cash equivalents at the beginning of the reporting period | 2,179,471 | 4,857,668 |
| 6. Cash and cash equivalents at the end of the reporting period | 923,632 | 2,970,297 |
Person-in-charge of the Company: Chen JinhangPerson-in-charge of accounting matters: Liu QuanchengPerson-in-charge of the accounting institution: Sun Yanwen
4.2 Audit report
Applicable Not applicable