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.
(a joint stock limited company incorporated in the People's Republic of China with limited liability)
(Stock Code: 01088) FIRST QUARTERLY REPORT FOR THE YEAR 2017Pursuant to the rules and regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange, China Shenhua Energy Company Limited is required to announce the quarterly report.
This announcement is made pursuant to Rule 13.09(2) and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap.571 of the Laws of Hong Kong).
The board of directors of the Company (the "Board") is pleased to announce the results of the Group for the three months ended 31 March 2017 prepared in accordance with the IFRSs. Such results have not been audited or reviewed by the independent auditors.
- IMPORTANT NOTICE
The Board and the supervisory committee of the Company together with the directors, supervisors and the senior management of the Company guarantee that the contents of the quarterly report are true, accurate and complete and do not contain any false representation, misleading statement or material omission, and shall severally and jointly accept legal liability.
This report was considered and approved at the 25th meeting of the third session of the Board. All directors of the Company attended the Board meeting to consider the quarterly report.
Ling Wen, Vice Chairman of the Company, Zhang Kehui, Chief Financial Officer of the Company and Xu Shancheng, General Manager of Finance Department of the Company, guarantee the truthfulness, accuracy and completeness of the financial statements contained in this quarterly report.
The financial statements of the first quarterly report of the Company are prepared in accordance with IFRSs.
Unless otherwise specified, the figures in this report are presented in Renminbi (RMB).
- COMPANY PROFILE
-
Major financial data
January to March 2017
January to March 2016
Percentage
Change
(%)
Basic earnings per share
(RMB/share) 0.650 0.238 172.9
Net cash generated from
operating activities per share
(RMB/share)
1.26
0.77
64.1
Revenue (RMB million)
61,062
39,402
55.0
Profit before income tax
(RMB million)
18,530
9,025
105.3
Profit for the period
(RMB million)
15,065
6,797
121.6
Profit attributable to equity
holders of the Company for
the period (RMB million) 12,937 4,741 172.9
Net cash generated from operating activities
(RMB million) 24,983 15,225 64.1
Net cash generated from
operating activities excluding the impact of Shenhua
Finance Company
(RMB million) 23,524 19,123 23.0
As at 31 March
2017
As at 31 December
2016
Percentage
Change
(%)
Total assets (RMB million)
596,322
576,729
3.4
Total liabilities (RMB million)
195,089
191,760
1.7
Total equity (RMB million) Equity attributable to equity holders of the Company
(RMB million)
401,233
330,010
384,969
316,975
4.2
4.1
Equity attributable to equity holders per share
(RMB/share) 16.59 15.94 4.1
- Major differences of financial statements prepared under different accounting standards
Unit: RMB million
Items Net profit attributable to equity holders of the Company Net assets attributable to equity holders of the Company January to March 2017January to March 2016
As at 31 March 2017As at 31
December 2016
Under the Accounting Standards for
Business Enterprises 12,235 4,607 325,617 312,357 Adjustment:
Simple production maintenance,
production safety and other related | ||||
expenditures | 702 | 134 | 4,393 | 4,618 |
Under IFRSs | 12,937 | 4,741 | 330,010 | 316,975 |
Explanation: Pursuant to the relevant regulations of the related government authorities in the PRC, provisions for simple production maintenance, production safety and other related expenditures are accrued by the Group in profit or loss for the current period and separately recorded as a specific reserve in shareholders' equity. On utilization of the specific reserve for formation of fixed assets within the stipulated scope, the cost of the relevant assets and the full amount of accumulated depreciation should be accounted for at the same time. Under IFRSs, these expenses are recognized as and when incurred. Relevant capital expenditure is recognized as property, plant and equipment when incurred and depreciated according to the relevant depreciation method. The effect on deferred tax arising from such difference is also reflected.
CSEC - China Shenhua Energy Company Ltd. published this content on 28 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 April 2017 12:09:14 UTC.
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