Crude Oil ( ) Brent Crude ( ) Natural Gas ( ) S&P 500 ( ) PHLX Oil ( )
 October 20, 2015 - 10:58 AM EDT
Print Email Article Font Down Font Up
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: zqb@hpi.com.cn 

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: kimmijiang@wsfg.hk / shilohxiang@wsfg.hk

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.
UNAUDITED CONSOLIDATED BALANCE SHEETS
(PRC GAAP)
AS AT 30 SEPTEMBER, 2015
(Amounts expressed in thousands) 



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
                  assets/liabilities

(25,916)


(4,074)


(425)

               Investment income

1,313,342


206,458


1,238,644

               Including: Investment income from
                  associates and joint ventures

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
                  non-current assets

31,123


4,893


14,319

    Less: Non-operating expenses

220,262


34,626


493,282

                Including: Loss from disposals of
                  non-current assets

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
        attributable to shareholders of the Company)






(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$)
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

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/huaneng-power-international-inc-net-profit-for-the-first-three-quarters-of-2015-increases-by-1674-300162914.html

SOURCE Huaneng Power International, Inc.


Source: PR Newswire (October 20, 2015 - 10:58 AM EDT)

News by QuoteMedia
www.quotemedia.com