Huaneng Power International, Inc. Net Profit for the First Three Quarters of 2015 Increases by 16.74%
BEIJING, Oct. 20, 2015 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI", the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited results for the nine months ended September 30, 2015.
Under the PRC GAAP, the Company realized consolidated operating revenue of RMB 97.249 billion for the first three quarters of 2015, representing a decrease of 7.98% over the same period last year. Consolidated net profit attributable to the shareholders of the Company was RMB 13.235 billion, representing an increase of 16.74% 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 32.41% 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 nine months ended September 30, 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 "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 Huaneng Power International, Inc.
Huaneng Power International, Inc. is one of China's largest listed power producers with controlled generation capacity of 81,132 MW and equity-based generation capacity of 72,375MW. 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 Enquires, Please Contact
Huaneng Power International, Inc.
Ms. MENG Jing / Ms. ZHAO Lin
Tel: +86-10-6608-6765 / 6322-6596
Fax: +86-10-6641-2321
E-mail: [email protected]
Wonderful Sky Financial Group Limited
Wonderful Sky Financial Group Limited
Mr. Kimmi Jiang / Ms. Shiloh Xiang
Tel: +852-2851-1038
Fax: +852-2865-1638
Email: [email protected] / [email protected]
HUANENG POWER INTERNATIONAL, INC. UNAUDITED CONSOLIDATED BALANCE SHEETS (PRC GAAP) AS AT 30 SEPTEMBER, 2015 (Amounts expressed in thousands)
|
|||||
As at |
As at |
||||
30 September, 2015 |
31 December, 2014 |
||||
(Restated) |
|||||
RMB |
US$ |
RMB |
|||
ASSETS |
|||||
CURRENT ASSETS |
|||||
Cash |
9,827,522 |
1,544,892 |
13,580,878 |
||
Derivative financial assets |
162,803 |
25,593 |
261,135 |
||
Notes receivable |
1,660,373 |
261,012 |
881,835 |
||
Accounts receivable |
11,389,400 |
1,790,421 |
15,590,721 |
||
Advances to suppliers |
586,105 |
92,136 |
759,747 |
||
Interest receivable |
199 |
31 |
357 |
||
Dividends receivable |
80,000 |
12,576 |
205,179 |
||
Other receivables |
1,194,720 |
187,811 |
1,074,450 |
||
Inventories |
5,701,532 |
896,284 |
7,409,681 |
||
Current portion of non-current assets |
177,273 |
27,867 |
179,084 |
||
Other current assets |
151,884 |
23,876 |
36,709 |
||
Total current assets |
30,931,811 |
4,862,499 |
39,979,776 |
||
NON-CURRENT ASSETS |
|||||
Available-for-sale financial assets |
5,331,335 |
838,089 |
4,383,515 |
||
Derivative financial assets |
71,054 |
11,170 |
40,598 |
||
Long-term receivables |
503,450 |
79,143 |
530,840 |
||
Long-term equity investments |
20,049,332 |
3,151,766 |
17,517,888 |
||
Fixed assets |
190,160,134 |
29,893,282 |
188,277,382 |
||
Fixed assets pending for disposal |
106,912 |
16,807 |
87,456 |
||
Construction in progress |
22,488,399 |
3,535,189 |
21,751,943 |
||
Construction materials |
2,784,282 |
437,691 |
3,387,861 |
||
Intangible assets |
12,257,663 |
1,926,912 |
11,601,321 |
||
Goodwill |
10,760,446 |
1,691,548 |
11,148,481 |
||
Long-term deferred expenses |
149,145 |
23,446 |
166,055 |
||
Deferred income tax assets |
885,788 |
139,246 |
1,115,232 |
||
Other non-current assets |
816,951 |
128,425 |
892,509 |
||
Total non-current assets |
266,364,891 |
41,872,714 |
260,901,081 |
||
TOTAL ASSETS |
297,296,702 |
46,735,213 |
300,880,857 |
HUANENG POWER INTERNATIONAL, INC. |
||||||
As at 30 September, 2015 |
As at 31 December, 2014 |
|||||
(Restated) |
||||||
RMB |
US$ |
RMB |
||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||
CURRENT LIABILITIES |
||||||
Short-term loans |
49,414,895 |
7,768,050 |
46,626,004 |
|||
Derivative financial liabilities |
624,652 |
98,196 |
832,727 |
|||
Notes payable |
1,049,573 |
164,993 |
1,637,554 |
|||
Accounts payable |
7,530,065 |
1,183,731 |
11,380,689 |
|||
Advances from customers |
417,483 |
65,629 |
367,774 |
|||
Salary and welfare payables |
357,485 |
56,197 |
247,517 |
|||
Taxes payable |
(1,010,383) |
(158,833) |
(617,844) |
|||
Interest payable |
885,103 |
139,139 |
1,162,367 |
|||
Dividends payable |
1,727,246 |
271,524 |
457,759 |
|||
Other payables |
13,188,185 |
2,073,190 |
14,963,223 |
|||
Current portion of non-current liabilities |
17,873,142 |
2,809,668 |
14,994,140 |
|||
Provision |
9,000 |
1,415 |
28,647 |
|||
Short-term bonds payable |
24,344,364 |
3,826,948 |
18,244,806 |
|||
Other current liabilities |
338,135 |
53,154 |
342,404 |
|||
Total current liabilities |
116,748,945 |
18,353,001 |
110,667,767 |
|||
NON-CURRENT LIABILITIES |
||||||
Long-term loans |
67,248,710 |
10,571,536 |
70,660,512 |
|||
Derivative financial liabilities |
433,403 |
68,131 |
649,513 |
|||
Bonds payable |
16,252,920 |
2,554,968 |
22,725,535 |
|||
Long-term payables |
1,535,135 |
241,324 |
1,435,037 |
|||
Long-term salary and welfare payables |
98,165 |
15,432 |
85,903 |
|||
Specific accounts payable |
44,363 |
6,974 |
45,024 |
|||
Deferred income |
2,573,333 |
404,529 |
2,555,018 |
|||
Deferred income tax liabilities |
1,707,879 |
268,480 |
1,595,025 |
|||
Total non-current liabilities |
89,893,908 |
14,131,374 |
99,751,567 |
|||
TOTAL LIABILITIES |
206,642,853 |
32,484,375 |
210,419,334 |
|||
SHAREHOLDERS' EQUITY |
||||||
Share capital |
14,420,383 |
2,266,892 |
14,420,383 |
|||
Capital surplus |
14,346,463 |
2,255,272 |
23,993,711 |
|||
Other comprehensive income/(loss) |
495,536 |
77,899 |
(1,020,395) |
|||
Including:Currency translation differences |
(1,655,156) |
(260,191) |
(1,194,819) |
|||
Special reserves |
47,853 |
7,523 |
39,606 |
|||
Surplus reserves |
8,186,275 |
1,286,887 |
7,242,594 |
|||
Retained earnings |
37,072,553 |
5,827,827 |
30,317,015 |
|||
Shareholder's equity attributable to shareholders of the Company |
74,569,063 |
11,722,300 |
74,992,914 |
|||
Non-controlling interests |
16,084,786 |
2,528,538 |
15,468,609 |
|||
Total shareholders' equity |
90,653,849 |
14,250,838 |
90,461,523 |
|||
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY |
297,296,702 |
46,735,213 |
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$1.00=Rmb6.3613 announced by the People's Bank of China on 30 September, 2015. No representation is made that Renminbi amounts could have been, or could be, converted into United States dollars at that rate as of 30 September, 2015, or at any other certain rate. |
HUANENG POWER INTERNATIONAL, INC UNAUDITED CONSOLIDATED INCOME STATEMENTS (PRC GAAP) FOR THE THIRD QUARTER ENDED 30 SEPTEMBER, 2015 (Amounts expressed in thousands, except per share data) |
|||||
For the third quarter ended 30 September |
|||||
2015 |
2014 |
||||
(Restated) |
|||||
RMB |
US$ |
RMB |
|||
1. Operating revenue |
97,249,319 |
15,287,649 |
105,683,602 |
||
Less: Operating cost |
67,746,083 |
10,649,723 |
78,217,252 |
||
Tax and levies on operations |
891,648 |
140,168 |
803,112 |
||
Selling expenses |
3,055 |
480 |
3,221 |
||
General and administrative expenses |
2,746,545 |
431,759 |
2,713,203 |
||
Financial expenses |
5,962,978 |
937,384 |
6,129,888 |
||
Impairment loss |
177,171 |
27,851 |
442,547 |
||
Add: loss on fair value changes of financial |
(25,916) |
(4,074) |
(425) |
||
Investment income |
1,313,342 |
206,458 |
1,238,644 |
||
Including: Investment income from |
1,178,917 |
185,326 |
1,118,189 |
||
2. Operating profit |
21,009,265 |
3,302,668 |
18,612,598 |
||
Add: Non-operating income |
741,731 |
116,602 |
793,851 |
||
Including: Gains from disposals of |
31,123 |
4,893 |
14,319 |
||
Less: Non-operating expenses |
220,262 |
34,626 |
493,282 |
||
Including: Loss from disposals of |
106,827 |
16,793 |
323,254 |
||
3. Profit before income tax |
21,530,734 |
3,384,644 |
18,913,167 |
||
Less: Income tax expense |
5,226,958 |
821,681 |
4,948,442 |
||
4. Net profit |
16,303,776 |
2,562,963 |
13,964,725 |
||
Attributable to: |
|||||
Shareholders of the Company |
13,234,753 |
2,080,511 |
11,337,105 |
||
Non-controlling interests |
3,069,023 |
482,452 |
2,627,620 |
||
5. Earnings per share (based on the net profit |
|||||
(expressed in RMB per share) |
|||||
- Basic earnings per share |
0.92 |
0.14 |
0.81 |
||
- Diluted earnings per share |
0.92 |
0.14 |
0.81 |
||
6. Other comprehensive income |
1,515,549 |
238,245 |
327,180 |
||
7. Total comprehensive income |
17,819,325 |
2,801,208 |
14,291,905 |
||
Attributable to: |
|||||
Shareholders of the Company |
14,750,684 |
2,318,816 |
11,664,213 |
||
Non-controlling interests |
3,068,641 |
482,392 |
2,627,692 |
||
For the convenience of the reader, translation of amounts from Renminbi (Rmb) into United States dollars (US$) |
SOURCE Huaneng Power International, Inc.
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