BEIJING, April 22, 2014 /PRNewswire/ -- Huaneng Power
International, Inc. ("HPI", the "Company") (NYSE: HNP; HKEx: 902;
SSE: 600011) today announced its unaudited results for the three
months ended March 31, 2014.
Under the PRC GAAP, the Company realized consolidated operating
revenue of RMB32.825 billion for the
first quarter of 2014, representing an increase of 2.14% over the
same period last year. Consolidated net profit attributable to the
shareholders of the Company was RMB3.683
billion, representing an increase of 44.22% over the same
period last year. The increase is mainly attributable to the
decrease of domestic coal price and increase of power generation
compared with the same period last year.
Encl: The unaudited summary financial information of the Company
for the three months ended March 31,
2014. The summary financial information is published under
the listing regulations of the China Securities Regulatory
Commission. The summary financial information was prepared in
accordance with "Accounting Standards for Business Enterprises" of
the People's Republic of China
("PRC GAAP"), which differs from the International Financial
Reporting Standards ("IFRS") and the accounting principles
generally accepted in the United States
of America ("US GAAP"). No reconciliation with IFRS or US
GAAP has been made in the presentation of the summary financial
information.
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HUANENG POWER
INTERNATIONAL, INC.
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UNAUDITED
CONSOLIDATED BALANCE SHEETS
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(PRC
GAAP)
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AS AT 31 MARCH,
2014
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(Amounts expressed
in thousands)
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ASSETS
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As at
31 March, 2014
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As at
31 December, 2013
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RMB
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US$
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RMB
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CURRENT
ASSETS
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Cash
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9,233,214
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1,500,823
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9,433,385
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Derivative financial
assets
|
37,192
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6,045
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91,727
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Notes
receivable
|
1,098,922
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178,626
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755,331
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Accounts
receivable
|
14,038,855
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2,281,961
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14,806,790
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Advances to
suppliers
|
982,367
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159,680
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434,953
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Interest
receivables
|
1,976
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321
|
70
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Dividends
receivable
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150,000
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24,382
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150,000
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Other
receivables
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932,512
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151,576
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793,638
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Inventories
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6,259,910
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1,017,524
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6,469,026
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Current portion of
non-current assets
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14,483
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2,354
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13,842
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Other current
assets
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33,656
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5,471
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17,292
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Assets held for
sale
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-
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-
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557,671
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Total current
assets
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32,783,087
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5,328,763
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33,523,725
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NON-CURRENT
ASSETS
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Available-for-sale
financial assets
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1,486,120
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241,563
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1,627,778
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Derivative financial
assets
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5,137
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835
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14,245
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Long-term
receivables
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741,452
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120,520
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726,214
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Long-term equity
investment
|
18,242,018
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2,965,169
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17,951,940
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Fixed
assets
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158,851,741
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25,820,735
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160,926,056
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Fixed assets pending
for disposal
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62,416
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10,145
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58,603
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Construction-in-progress
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20,994,006
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3,412,494
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18,877,533
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Construction
materials
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2,339,661
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380,303
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2,678,280
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Intangible
assets
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10,447,125
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1,698,140
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10,350,136
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Goodwill
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12,434,970
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2,021,256
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12,180,957
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Long-term deferred
expenses
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160,238
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26,046
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150,245
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Deferred income tax
assets
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702,970
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114,265
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762,561
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Other non-current
assets
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496,580
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80,718
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446,580
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Total non-current
assets
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226,964,434
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36,892,189
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226,751,128
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TOTAL
ASSETS
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259,747,521
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42,220,952
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260,274,853
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HUANENG POWER
INTERNATIONAL, INC.
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UNAUDITED
CONSOLIDATED BALANCE SHEETS
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(PRC
GAAP)
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AS AT 31 MARCH,
2014
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(Amounts expressed
in thousands)
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LIABILITIES AND
SHAREHOLDERS' EQUITY
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As at
31 March, 2014
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As at
31 December, 2013
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RMB
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US$
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RMB
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CURRENT
LIABILITIES
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Short-term
loans
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40,461,102
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6,576,795
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37,937,046
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Derivative financial
liabilities
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48,391
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7,866
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43,591
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Notes
payable
|
80,933
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13,155
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103,385
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Accounts
payable
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10,139,628
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1,648,157
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12,174,486
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Advances from
customers
|
48,150
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7,827
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147,799
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Salary and welfare
payables
|
201,584
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32,767
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188,837
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Taxes
payable
|
947,856
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154,070
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409,847
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Interest
payables
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1,051,044
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170,843
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1,047,410
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Dividends
payable
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163,270
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26,539
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166,270
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Other
payables
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9,121,975
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1,482,742
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10,677,357
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Current portion of
non-current liabilities
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20,013,710
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3,253,151
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18,487,606
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Provision
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196,922
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32,009
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182,188
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Other current
liabilities
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10,541,309
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1,713,449
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15,565,630
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Liabilities held for
sale
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-
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-
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51,172
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Total current
liabilities
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93,015,874
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15,119,370
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97,182,624
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NON-CURRENT
LIABILITIES
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Long-term
loans
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58,974,008
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9,585,996
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60,513,671
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Derivative financial
liabilities
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343,893
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55,898
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383,405
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Bonds
payable
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23,736,985
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3,858,355
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23,726,550
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Long-term
payables
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223,577
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36,342
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208,820
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Specific accounts
payable
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53,438
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8,686
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51,469
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Deferred income tax
liabilities
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1,825,019
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296,650
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1,788,922
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Other non-current
liabilities
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2,394,956
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389,291
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2,374,774
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Total non-current
liabilities
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87,551,876
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14,231,218
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89,047,611
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TOTAL
LIABILITIES
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180,567,750
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29,350,588
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186,230,235
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SHAREHOLDERS'
EQUITY
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Share
capital
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14,055,383
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2,284,648
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14,055,383
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Capital
surplus
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16,580,141
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2,695,038
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16,662,522
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Special
reserves
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43,927
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7,140
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45,806
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Surplus
reserves
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7,131,700
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1,159,230
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7,131,700
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Undistributed
profits
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28,352,405
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4,608,573
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24,669,611
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Currency translation
differences
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(419,886.00)
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(68,251)
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(817,243)
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Shareholder's
equity attributable to
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shareholders of
the Company
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65,743,670
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10,686,378
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61,747,779
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Non-controlling
interests
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13,436,101
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2,183,986
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12,296,839
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Total
shareholders' equity
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79,179,771
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12,870,364
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74,044,618
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TOTAL LIABILITIES
AND SHAREHOLDER'S
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EQUITY
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259,747,521
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42,220,952
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260,274,853
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For the convenience
of the reader, translation of amounts from Renminbi (Rmb) into
United States dollars (US$)
has been made at the
rate of US$1.00=Rmb6.1521 announced by the People's Bank of China
on March 31, 2014.
No representation is
made that Renminbi amounts could have been, or could be, converted
into United States
dollars at that rate
as of March 31, 2014, or at any other certain rate.
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HUANENG POWER
INTERNATIONAL, INC.
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UNAUDITED
CONSOLIDATED BALANCE SHEETS
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(PRC
GAAP)
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AS AT 31 MARCH,
2014
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(Amounts expressed
in thousands)
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For the first
quarter ended 31 March
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2014
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2013
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RMB
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US$
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RMB
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1. Operating
revenue
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32,825,135
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5,335,598
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32,136,096
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Less:Operating
cost
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24,708,031
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4,016,195
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24,944,125
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Tax and levies on
operations
|
246,263
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40,029
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252,015
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Selling
expenses
|
1,104
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179
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5,088
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General and
administrative expenses
|
769,212
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125,032
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773,509
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Financial
expenses
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1,847,220
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300,258
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1,933,835
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Assets impairment
loss
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(59.00)
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(10.00)
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(376.00)
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Add:
Income (loss) on fair value changes of financial
assets/liabilities
|
7,083
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1,151
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(1,413)
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Investment
income
|
255,485
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41,527
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105,677
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Including: Investment
income from
associates and a jointly
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controlled
entities
|
207,899
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33,793
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98,245
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2. Operating
profit
|
5,515,932
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896,593
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4,332,164
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Add:
Non-operating income
|
563,143
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91,537
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54,774
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Including: gain on
disposals of
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non-current
assets
|
2,612
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425
|
4,414
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Less:Non-operating
expenses
|
13,358
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2,171
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21,181
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Including: Loss on
disposals of
|
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non-current
assets
|
2,402
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390
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835
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3. Profit before
taxation
|
6,065,717
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985,959
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4,365,757
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Less: Income tax
expense
|
1,501,964
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244,139
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1,075,503
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4. Net
profit
|
4,563,753
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741,820
|
3,290,254
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Attributable
to:
|
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Shareholders of the
Company
|
3,682,793
|
598,624
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2,553,658
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Non-controlling
interests
|
880,960
|
143,197
|
736,596
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5. Earnings per
share (based on the net profit
attributable to shareholders of the Company)
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（expressed in RMB
per share）
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- Basic earnings per
share
|
0.26
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0.04
|
0.18
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- Diluted earnings
per share
|
0.26
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0.04
|
0.18
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6. Other
comprehensive income (loss)
|
267,073
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43,412
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(18,640)
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7. Total
comprehensive income
|
4,830,826
|
785,232
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3,271,614
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Attributable
to:
|
|
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Shareholders of the
Company
|
3,949,576
|
641,988
|
2,535,303
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Non-controlling
interests
|
881,250
|
143,244
|
736,311
|
|
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For the
convenience of the reader, translation of amounts from Renminbi
(Rmb) into United States dollars (US$) has been made at the rate of
US$1.00=Rmb6.1521 announced by the People's Bank of China on March
31, 2014. No representation is made that Renminbi amounts could
have been, or could be, converted into United States dollars at
that rate as of March 31, 2014, or at any other certain
rate.
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About the Company
The Company is one of China's
largest listed power producers with controlled generation capacity
of 66,795MW and equity-based generation capacity of 59,993MW
currently. The power plants of the Company are located in 19
provinces, municipalities, and autonomous regions in China. The Company also has a wholly-owned
power company in Singapore.
For enquiries, please contact:
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Huaneng Power
International,
Inc.
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Ms. MENG Jing /
Ms. ZHAO Lin
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Tel:
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(8610) 6608 6765 /
6322
6596
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Fax:
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(8610) 6641
2321
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Email:
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zqb@hpi.com.cn
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Wonderful Sky
Financial Group Limited
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Ms. Abbey Zhao
/ Ms. Erica Tao / Ms. Shine Li /
Ms. Irene Gao
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Tel:
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852) 2851
1038
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|
Fax:
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(852) 2865
1638
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Email:
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abbeyzhao@wsfg.hk /
ericatao@wsfg.hk / shineli@wsfg.hk / irenegao@wsfg.hk
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SOURCE Huaneng Power International, Inc.