BEIJING, April 21, 2015 /PRNewswire/ -- Huaneng Power
International, Inc. ("HPI", or the "Company") (NYSE:
HNP; HKEx: 902; SSE: 600011) today announced its unaudited results
for the three months ended March 31,
2015.
Under the PRC GAAP, the Company realized consolidated operating
revenue of RMB34.278 billion for the
first quarter of 2015, representing a decrease of 6.42% over the
same period last year. Consolidated net profit attributable to the
shareholders of the Company was RMB5.034
billion, representing an increase of 21.02% over the same
period last year. Without regard to the financial restatement for
assets acquisition from parent company last year required under the
PRC GAAP, the net profit attributable to the shareholders of the
Company increased by 36.69% over the same period last year. The
profit increase was mainly attributable to the year-on-year
decrease of domestic fuel cost and acquisition of generation assets
from parent company in 2014.
Encl: The unaudited summary financial information of the Company
for the three months ended March 31,
2015. 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 the 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.
About the Company
Huaneng Power International, Inc. is one of China's largest listed power producers with
controlled generation capacity of 78,693 MW and equity-based
generation capacity of 70,736MW. Its power plants are located in 21
provinces, municipalities and autonomous regions in China. It also has a wholly-owned power
company in Singapore.
For enquiries, please contact:
Huaneng Power International,
Inc.
Ms. MENG Jing / Ms. ZHAO
Lin
Tel: (8610) 6608
6765 / 6322 6596
Fax: (8610) 6641 2321
Email: zqb@hpi.com.cn
Wonderful Sky Financial Group Limited
Ms.
Erica Tao / Ms.
Shiloh Xiang
Tel: (852) 2851
1038
Fax: (852) 2865 1638
Email: ericatao@wsfg.hk / shilohxiang@wsfg.hk
- tables to follow
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HUANENG POWER
INTERNATIONAL, INC
|
UNAUDITED
CONSOLIDATED INCOME STATEMENTS
|
(PRC
GAAP)
|
FOR THE FIRST
QUARTER ENDED 31 March, 2015
|
(Amounts expressed
in thousands, except per share data)
|
|
|
|
For the first quarter
ended 31 March
|
|
2015
|
|
2014
|
|
RMB
|
US$
|
|
RMB
|
1. Operating
revenue
|
34,277,583
|
5,580,669
|
36,630,791
|
Less: Operating
cost
|
23,665,292
|
3,852,902
|
27,407,466
|
Tax and levies on operations
|
347,943
|
56,648
|
279,247
|
Selling expenses
|
992
|
162
|
1,104
|
General and administrative expenses
|
921,139
|
149,969
|
852,760
|
Financial expenses
|
1,910,412
|
311,031
|
2,051,633
|
Assets impairment loss
|
293
|
48
|
(59)
|
Add: (loss) on fair
value changes of financial assets/liabilities
|
(28,911)
|
(4,707)
|
7,083
|
Investment
income
|
344,468
|
56,084
|
256,106
|
Including: Investment income from
associates and joint ventures
|
296,634
|
|
48,294
|
|
208,519
|
2. Operating
profit
|
7,747,069
|
|
1,261,286
|
|
6,301,829
|
Add: Non-operating
income
|
512,362
|
83,418
|
565,494
|
Including: gain on disposals of
non-current assets
|
1,778
|
289
|
2,612
|
Less: Non-operating
expenses
|
24,718
|
4,026
|
14,189
|
Including: Loss on disposals of
non-current assets
|
11
|
|
2
|
|
2,450
|
3. Profit before
taxation
|
8,234,713
|
|
1,340,678
|
|
6,853,134
|
Less: Income tax
expense
|
2,005,038
|
|
326,436
|
|
1,693,930
|
4. Net
profit
|
6,229,675
|
|
1,014,242
|
|
5,159,204
|
Attributable
to:
|
Shareholders of the Company
|
5,034,089
|
819,591
|
4,159,784
|
Non-controlling interests
|
1,195,586
|
194,651
|
999,420
|
5. Earnings per
share (based on the net profit
attributable to shareholders of the
Company)
|
|
|
|
(expressed in RMB per share)
|
|
|
|
- Basic earnings per
share
|
0.35
|
0.06
|
0.30
|
- Diluted earnings
per share
|
0.35
|
0.06
|
0.30
|
6. Other
comprehensive income (loss)
|
(12,837)
|
|
(2,090)
|
|
267,073
|
7. Total
comprehensive income
|
6,216,838
|
|
1,012,152
|
|
5,426,277
|
Attributable to:
|
|
|
|
|
Shareholders of the Company
|
5,021,592
|
817,556
|
4,426,567
|
Non-controlling interests
|
1,195,246
|
194,596
|
999,710
|
|
|
|
|
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$1.00=Rmb6.1422
announced by the People's Bank of China on March 31, 2015.No
representation is made that Renminbi amounts could
have been, or
could be, converted into United States dollars at that rate as of
March 31, 2015, or at any other certain rate
|
HUANENG POWER
INTERNATIONAL, INC.
|
UNAUDITED
CONSOLIDATED BALANCE SHEETS
|
(PRC
GAAP)
|
AS AT 31 MARCH,
2015
|
(Amounts expressed
in thousands)
|
|
|
|
31 March,
2015
|
|
31 December,
2014
|
|
RMB
|
US$
|
RMB
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
Cash
|
9,282,019
|
1,511,188
|
13,580,878
|
Derivative financial assets
|
140,645
|
22,898
|
261,135
|
Notes receivable
|
1,244,055
|
202,542
|
881,835
|
Accounts
receivable
|
14,118,134
|
2,298,547
|
15,590,721
|
Advances to suppliers
|
926,996
|
150,922
|
759,747
|
Interest receivables
|
747
|
122
|
357
|
Dividends receivable
|
80,000
|
13,025
|
205,179
|
Other receivables
|
1,396,157
|
227,306
|
1,074,450
|
Inventories
|
6,615,852
|
1,077,114
|
7,409,681
|
Current portion of non-current assets
|
178,046
|
28,987
|
179,084
|
Other current assets
|
139,865
|
|
22,771
|
|
36,709
|
Total current assets
|
34,122,516
|
|
5,555,422
|
|
39,979,776
|
NON-CURRENT ASSETS
|
Available-for-sale financial assets
|
4,440,178
|
722,897
|
4,383,515
|
Derivative financial assets
|
68,169
|
11,098
|
40,598
|
Long-term receivables
|
509,895
|
83,015
|
530,840
|
Long-term equity investment
|
17,807,196
|
2,899,156
|
17,517,888
|
Fixed assets
|
186,065,054
|
30,292,901
|
188,277,382
|
Fixed assets pending for disposal
|
87,905
|
14,312
|
87,456
|
Construction-in-progress
|
24,035,627
|
3,913,195
|
21,751,943
|
Construction materials
|
2,940,629
|
478,758
|
3,387,861
|
Intangible assets
|
11,414,083
|
1,858,305
|
11,601,321
|
Goodwill
|
10,794,188
|
1,757,381
|
11,148,481
|
Long-term
deferred expenses
|
156,415
|
25,466
|
166,055
|
Deferred income tax assets
|
1,045,118
|
170,154
|
1,115,232
|
Other non-current assets
|
892,029
|
|
145,230
|
|
892,509
|
Total non-current assets
|
260,256,486
|
|
42,371,868
|
|
260,901,081
|
TOTAL ASSETS
|
294,379,002
|
|
47,927,290
|
|
300,880,857
|
HUANENG POWER
INTERNATIONAL, INC.
|
UNAUDITED
CONSOLIDATED BALANCE SHEETS
|
(PRC
GAAP)
|
AS AT 31 MARCH,
2015
|
(Amounts expressed
in thousands)
|
|
As
at
|
As
at
|
|
31 March,
2015
|
|
31 December,
2014
|
|
RMB
|
US$
|
RMB
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY
|
|
|
|
CURRENT LIABILITIES
|
|
|
|
Short-term loans
|
51,966,306
|
8,460,536
|
46,626,004
|
Derivative financial liabilities
|
442,543
|
72,050
|
832,727
|
Notes payable
|
1,727,438
|
281,241
|
1,637,554
|
Accounts payable
|
9,232,790
|
1,503,173
|
11,380,689
|
Advances from customers
|
235,299
|
38,309
|
367,774
|
Salary and welfare payables
|
268,784
|
43,760
|
247,517
|
Taxes payable
|
(236,701)
|
(38,537)
|
(617,844)
|
Interest payables
|
1,021,217
|
166,262
|
1,162,367
|
Dividends payable
|
122,794
|
19,992
|
457,759
|
Other payables
|
16,093,102
|
2,620,088
|
14,963,223
|
Current
portion of non-current liabilities
|
8,016,851
|
1,305,208
|
14,994,140
|
Provision
|
31,647
|
5,152
|
28,647
|
Short-term bonds payable
|
18,458,820
|
3,005,246
|
18,244,806
|
Other current liabilities
|
412,499
|
|
67,158
|
|
342,404
|
Total current liabilities
|
107,793,389
|
|
17,549,638
|
|
110,667,767
|
NON-CURRENT LIABILITIES
|
Long-term loans
|
70,474,521
|
11,473,824
|
70,660,512
|
Derivative financial liabilities
|
495,133
|
80,612
|
649,513
|
Bonds payable
|
22,760,934
|
3,705,665
|
22,725,535
|
Long-term payables
|
1,525,713
|
248,398
|
1,435,037
|
Long-term Salary and welfare payables
|
85,903
|
13,986
|
85,903
|
Specific accounts payable
|
46,002
|
7,489
|
45,024
|
Deferred income
|
2,521,253
|
410,481
|
2,555,018
|
Deferred income tax liabilities
|
1,618,687
|
|
263,535
|
|
1,595,025
|
Total non-current liabilities
|
99,528,146
|
|
16,203,990
|
|
99,751,567
|
TOTAL LIABILITIES
|
207,321,535
|
|
33,753,628
|
|
210,419,334
|
SHAREHOLDERS' EQUITY
|
Share capital
|
14,420,383
|
2,347,755
|
14,420,383
|
Capital surplus
|
14,346,463
|
2,335,721
|
23,993,711
|
Other comprehensive income (loss)
|
(1,032,891)
|
(168,162)
|
(1,020,395)
|
Including: Currency translation
differences
|
(1,616,090)
|
(263,113)
|
(1,194,819)
|
Special reserves
|
36,989
|
6,022
|
39,606
|
Surplus reserves
|
7,242,594
|
1,179,153
|
7,242,594
|
Undistributed profits
|
35,351,104
|
5,755,447
|
30,317,015
|
Shareholder's equity attributable to
shareholders of the Company
|
70,364,642
|
11,455,935
|
74,992,914
|
Non-controlling interests
|
16,692,825
|
|
2,717,727
|
|
15,468,609
|
Total shareholders' equity
|
87,057,467
|
|
14,173,662
|
|
90,461,523
|
TOTAL LIABILITIES AND SHAREHOLDER'S
EQUITY
|
294,379,002
|
|
47,927,290
|
|
300,880,857
|
|
|
|
|
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=Rmb6.1422 announced by the People's Bank of China on March
31, 2015.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, 2015, or at any
other certain
rate.
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/huaneng-power-international-inc-2015-first-quarterly-net-profit-attributable-to-shareholders-increased-by-2102-300069379.html
SOURCE Huaneng Power International, Inc.