HUANENG POWER INTERNATIONAL, INC. （For immediate release） April 26, 2016
HUANENG POWER INTERNATIONAL, INC. 2016 FIRST QUARTERLY NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS DECREASED BY 21.58%(Beijing, China, April 26, 2016) 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, 2016.
Under the PRC GAAP, the Company realized consolidated operating revenue of RMB28.823 billion for the first quarter of 2016, representing a decrease of 15.91% over the same period last year. Consolidated net profit attributable to the shareholders of the Company was RMB3.948 billion, representing a decrease of 21.58% over the same period last year. The decrease is mainly attributable to the on grid tariff cut for coal-fired power by National Development and Reform Commission, the year-on-year decrease of domestic power generation, and the increase of unplanned electricity sold in market.
Encl: The unaudited summary financial information of the Company for the three months ended March 31, 2016. 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.
~ End ~
About the Company
Huaneng Power International, Inc. is one of China's largest listed power producers with controlled generation capacity of 82,381 MW and equity-based generation capacity of 74,826MW. Its power plants are located in 22 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. Serena Ou / Ms. Shiloh XiangTel: (852) 2851 1038
Fax: (852) 2865 1638
Email: serenaou@wsfg.hk /shilohxiang@wsfg.hk
HUANENG POWER INTERNATIONAL, INC. | |||
UNAUDITED CONSOLIDATED BALANCE SHEETS | |||
(PRC GAAP) | |||
AS AT 31 MARCH, 2016 | |||
(Amounts expressed in thousands) | |||
As at | As at | ||
31 March, 2016 | 31 December, 2015 | ||
RMB | US$ | RMB | |
ASSETS | |||
CURRENT ASSETS | |||
Cash | 9,057,936 | 1,401,897 | 7,537,813 |
Derivative financial assets | 121,143 | 18,749 | 139,468 |
Notes receivable | 1,901,449 | 294,287 | 1,977,790 |
Accounts receivable | 12,255,626 | 1,896,803 | 14,399,611 |
Advances to suppliers | 680,965 | 105,393 | 573,970 |
Interest receivables | 129 | 20 | 175 |
Dividends receivable | 30,000 | 4,643 | 305,000 |
Other receivables | 1,467,793 | 227,170 | 1,307,297 |
Inventories | 5,156,493 | 798,070 | 5,422,732 |
Current portion of non-current assets | 119,619 | 18,513 | 118,027 |
Other current assets | 185,881 | 28,771 | 104,708 |
Total current assets | 30,977,034 | 4,794,316 | 31,886,591 |
NON-CURRENT ASSETS | |||
Available-for-sale financial assets | 4,798,186 | 742,615 | 5,127,863 |
Derivative financial assets | 14,629 | 2,264 | 45,044 |
Long-term receivables | 638,446 | 98,812 | 618,279 |
Long-term equity investment | 19,769,523 | 3,059,729 | 19,516,629 |
Fixed assets | 193,150,256 | 29,893,867 | 195,479,962 |
Fixed assets pending for disposal | 104,572 | 16,185 | 103,311 |
Construction-in-progress | 20,560,764 | 3,182,190 | 20,202,551 |
Construction materials | 3,313,783 | 512,874 | 2,911,105 |
Intangible assets | 12,057,613 | 1,866,157 | 11,679,861 |
Goodwill | 10,364,681 | 1,604,142 | 9,930,142 |
Long-term deferred expenses | 149,551 | 23,146 | 148,123 |
Deferred income tax assets | 1,267,555 | 196,180 | 1,305,548 |
Other non-current assets | 737,795 | 114,189 | 774,713 |
Total non-current assets | 266,927,354 | 41,312,350 | 267,843,131 |
TOTAL ASSETS | 297,904,388 | 46,106,666 | 299,729,722 |
HUANENG POWER INTERNATIONAL, INC. | |||
UNAUDITED CONSOLIDATED BALANCE SHEETS | |||
(PRC GAAP) | |||
AS AT 31 MARCH, 2016 | |||
(Amounts expressed in thousands) | |||
As at | As at | ||
31 March, 2016 | 31 December, 2015 | ||
RMB | US$ | RMB | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
CURRENT LIABILITIES | |||
Short-term loans | 47,504,483 | 7,352,269 | 49,883,489 |
Derivative financial liabilities | 614,392 | 95,089 | 874,852 |
Notes payable | 1,113,262 | 172,300 | 953,319 |
Accounts payable | 7,651,638 | 1,184,244 | 8,449,769 |
Advances from customers | 224,262 | 34,709 | 449,375 |
Salary and welfare payables | 339,524 | 52,548 | 313,284 |
Taxes payable | (492,896) | (76,286) | (1,226,234) |
Interest payables | 955,112 | 147,823 | 874,333 |
Dividends payable | 785,135 | 121,515 | 788,895 |
Other payables | 13,079,822 | 2,024,364 | 15,078,583 |
Current portion of non-current liabilities | 20,111,904 | 3,112,720 | 24,371,173 |
Provision | 17,026 | 2,635 | 15,001 |
Short-term bonds payable | 19,369,876 | 2,997,876 | 19,347,706 |
Other current liabilities | 385,961 | 59,736 | 341,871 |
Total current liabilities | 111,659,501 | 17,281,542 | 120,515,416 |
NON-CURRENT LIABILITIES | |||
Long-term loans | 67,657,071 | 10,471,286 | 66,028,023 |
Derivative financial liabilities | 470,343 | 72,795 | 430,089 |
Bonds payable | 11,268,205 | 1,743,980 | 11,261,322 |
Long-term payables | 1,331,956 | 206,147 | 1,359,610 |
Long-term Salary and welfare payables | 96,490 | 14,934 | 97,025 |
Specific accounts payable | 44,672 | 6,914 | 48,234 |
Deferred income | 2,581,151 | 399,484 | 2,632,173 |
Deferred income tax liabilities | 1,405,431 | 217,519 | 1,417,972 |
Total non-current liabilities | 84,855,319 | 13,133,059 | 83,274,448 |
TOTAL LIABILITIES | 196,514,820 | 30,414,601 | 203,789,864 |
SHAREHOLDERS' EQUITY | |||
Share capital | 15,200,383 | 2,352,563 | 15,200,383 |
Capital surplus | 18,250,777 | 2,824,673 | 18,250,777 |
Other comprehensive income (loss) | 565,657 | 87,547 | 135,561 |
Including:Currency translation differences | (814,884) | (126,120) | (1,327,839) |
Special reserves | 30,959 | 4,792 | 29,500 |
Surplus reserves | 8,186,275 | 1,266,990 | 8,186,275 |
Undistributed profits | 41,554,051 | 6,431,321 | 37,606,474 |
Shareholder's equity attributable to shareholders of the Company | 83,788,102 | 12,967,886 | 79,408,970 |
Non-controlling interests | 17,601,466 | 2,724,179 | 16,530,888 |
Total shareholders' equity | 101,389,568 | 15,692,065 | 95,939,858 |
TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY | 297,904,388 | 46,106,666 | 299,729,722 |
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=Rmb6.4612 announced by the People's Bank of China on March 31, 2016. No representation is made that Renminbi amounts could have been, or could be, converted into United States dollars at that rate as at March 31, 2016, or at any other certain rate. | |||
Huaneng Power International Inc. issued this content on 26 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 April 2016 01:25:26 UTC
Original Document: http://www.hpi.com.cn/sites/english/HPINews/[Press Release]2016 FIRST QUARTERLY NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS DECREASED BY.pdf
