UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO
RULE
13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For
the month of October 2021
Commission File Number 001-13314
Huaneng Power International, Inc.
(Translation of registrant’s name into English)
Huaneng Power International, Inc.
Huaneng Building,
6 Fuxingmennei Street,
Xicheng District,
Beijing, 100031 PRC
(Address of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F
x Form 40-F ¨
Indicate by
check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
This Form 6-K consists of:
1. An announcement
regarding settlement of fundraising investment projects and use of remaining proceeds to permanently replenish working capital of
Huaneng Power International, Inc.(the "Registrant");
2. An announcement regarding
discloseable transaction and continuing connected transactions of the Registrant; and
3. An announcement regarding
2021 third quarterly report of the Registrant;
Each made by the Registrant on October 27, 2021.
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.
ANNOUNCEMENT
ON THE SETTLEMENT OF FUNDRAISING INVESTMENT PROJECTS AND USE OF REMAINING
PROCEEDS
TO PERMANENTLY REPLENISH WORKING CAPITAL
On
26 October 2021, the eighteenth meeting of the tenth session of the board of directors of Huaneng Power International, Inc. (the “Company”)
considered and approved the Proposal Regarding the Settlement of Fundraising Investment Projects and Use of Remaining Proceeds to Permanently
Replenish Working Capital, at which, the settlement of fundraising investment projects and use of remaining proceeds as well as its interest
derived therefrom in a sum not exceeding RMB918,769,100, representing 28.31% of the net raised funds, to permanently replenish working
capital were approved, with the actual amounts would be based on the amounts in the special account(s) on the date of transfer. Opinions
with consent have been given by the supervisory committee and independent directors, provided that the proposal is subject to consideration
and approval at the general meeting of the Company. The details are as follows:
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I.
|
BASIC
INFORMATION ON THE RAISED FUNDS
|
As
approved by the China Securities Regulatory Commission with the “Approval on the Non- public Issuance of Shares by Huaneng Power
International, Inc.” (Zheng Jian Xu Ke No.2018 696), the Company issued 497,709,919 ordinary shares (A shares) by way of non-public
issuance to seven target subscribers. The total proceeds raised from such non-public issuance of A Shares were RMB3,259,999,969.45, with
the net proceeds amounted to RMB3,245,329,969.59 after deducting the underwriting fees and commissions. As of 10 October 2018, all the
funds raised have been received. The above-mentioned raised funds have been put in place and have been verified by KPMG Huazhen Certified
Public Accountants (Special General Partnership), and a Capital Verification Report (KPMG Huazhen Yanzi No. 1800388) has been issued.
The
Company carried out special account depository management on the raised funds. After the raised funds were received, the Company signed
custodian agreement(s) for the raised funds with the sponsors and commercial banks. All the funds have been deposited in the special
account(s) for the raised funds.
|
II.
|
BASIC
INFORMATION ON THE FUNDRAISING INVESTMENT PROJECTS
|
Pursuant
to the Plan for the 2017 Non-public Issuance of A Shares of Huaneng Power International, Inc. (Amended Version) disclosed by the Company,
the proceeds from the Company’s non-public issuance of A Shares will be invested in the following projects after deducting the
issuance expenses:
|
S/N
|
|
|
Project name
|
|
Total investment
in the project
|
|
|
Proceeds
proposed to be
invested in the
project
|
|
|
|
|
|
|
|
|
(RMB0’000)
|
|
|
|
(RMB0’000)
|
|
|
1
|
|
|
Xiegang Gas Turbine Project in Guangdong (800MW)
|
|
|
360,000.00
|
|
|
|
72,000.00
|
|
|
2
|
|
|
Dafeng Offshore Wind Power Project in Jiangsu (300MW)
|
|
|
564,815.00
|
|
|
|
248,227.23
|
|
|
3
|
|
|
Mianchi Phoenix Mountain Wind Power Project in Henan (100MW)
|
|
|
85,381.85
|
|
|
|
17,076.37
|
|
|
4
|
|
|
Longchi Wind Power Project in Anhui (100MW)
|
|
|
85,622.00
|
|
|
|
17,124.40
|
|
|
5
|
|
|
Yangpu Thermal Power Project in Hainan (700MW)
|
|
|
401,300.00
|
|
|
|
72,234.00
|
|
|
6
|
|
|
Ruijin Coal-fired Project Phase II in Jiangxi (2000MW)
|
|
|
719,000.00
|
|
|
|
73,338.00
|
|
|
|
|
|
Total
|
|
|
2,216,118.85
|
|
|
|
500,000.00
|
|
If
the actual net proceeds raised was less than the amount of proceeds proposed to be invested, the insufficient part would be raised by
the Company itself. Before the fund raised by this non- public issuance of A shares was put in place, the Company would invest the fund
raised by itself first according to the actual progress of project(s), and replace it after the proceeds were in place.
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(I)
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Change
in the fundraising investment projects
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In
accordance with the resolutions considered and approved at the sixteenth meeting of the ninth session of the board of directors and
the eighth meeting of the ninth session of the supervisory committee of the Company held on 11 December 2018, as well as the first
extraordinary general meeting for 2019 held on 30 January 2019, given that the actual proceeds raised from the Issuance were less
than the aggregate amount of the proceeds proposed to be invested, and on the basis of principle on fulfilling use requirements of
the proceeds and minimizing operational risks in fundraising investment projects, the Company adjusted the specific fundraising
investment projects, the order of priority and the specific investment amount of each project based on the priority of each project.
Based on progress in related projects, Yangpu Thermal Power Project in Hainan (700MW) and Ruijin Coal-fired Project Phase II in
Jiangxi (2000MW) were excluded from the fundraising investment projects. Moreover, in accordance with the State-owned Assets
Supervision and Administration Commission’s requirements concerning deleveraging and controlling ratio of debt/assets, the
project capital ratio was adjusted to over 30%. In accordance with the resolutions considered and approved at the twenty-fourth
meeting of the ninth session of the board of directors and the thirteenth meeting of the ninth session of the supervisory committee
of the Company held on 3 January 2020, as well as the first extraordinary general meeting for year 2020 held on 5 March 2020,
Huaneng Dongguan Combined Cycle Cogeneration Limited Liability Company, the implementation subject of Xiegang Gas Turbine Project in
Guangdong (800MW), intended to introduce an external shareholder. After such capital introduction, the Company’s shareholding
ratio would be 80%, while the investor’s shareholding ratio would be 20%. The implementation subject of the fundraising
investment project was changed from a wholly-owned subsidiary of the Company to a controlling subsidiary of the Company.
|
|
(II)
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Actual
use of proceeds
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As
of 30 September 2021, the Company had invested a total of RMB2,343,440,000 of proceeds in fundraising investment projects, and the balance
of the proceeds was RMB918,769,100 (including interest of approximately RMB16,879,100), accounting for 28.31% of the net proceeds. Proceeds
proposed to be invested in the projects and actual proceeds invested were as follows:
|
Fundraising investment projects
|
|
Total
investment of
the original
project
|
|
|
Including:
Total amount
of proceeds
proposed to be
invested
|
|
|
The total
amount of
proceeds
invested as of
the
end of September
2021
|
|
|
Deposit bank and account number
|
|
Progress of
capital investment as
of
the end of
September
2021 (%)
|
|
|
Project
progress
|
|
|
|
(RMB0'000)
|
|
|
(RMB0'000)
|
|
|
(RMB0'000)
|
|
|
|
|
|
|
|
|
Xiegang Gas Turbine Project in
Guangdong (800MW)
|
|
|
360,000.00
|
|
|
|
104,000.00
|
|
|
|
52,094.00
|
|
|
Dongguan Branch of Bank of China
Limited 634070554518
|
|
|
50.09
|
|
|
Put into operation
|
Dafeng Offshore Wind Power
Project in Jiangsu (300MW)
|
|
|
564,815.00
|
|
|
|
174,231.84
|
|
|
|
143,800.00
|
|
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Nanjing Chengnan Branch of Bank of
China Limited 537872077686
|
|
|
82.53
|
|
|
Put into operation
|
Mianchi
Phoenix Mountain Wind
Power Project in Henan
(100MW)
|
|
|
85,381.85
|
|
|
|
24,614.56
|
|
|
|
19,000.00
|
|
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Zhengzhou Jianshe Road Branch of
Industrial and Commercial Bank of
China Limited
1702020529020113582
|
|
|
77.19
|
|
|
Put into operation
|
Longchi Wind Power Project in
Anhui (100MW)
|
|
|
85,622.00
|
|
|
|
21,686.60
|
|
|
|
19,450.00
|
|
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Hefei Shuguang Branch of
Agricultural Bank of China Limited
12183001040036375
|
|
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89.69
|
|
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Put into operation
|
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Total
|
|
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1,095,818.85
|
|
|
|
324,533.00
|
|
|
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234,344.00
|
|
|
|
|
|
|
|
|
|
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III.
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REASONS
FOR REMAINING PROCEEDS
|
The
main reasons for the remaining proceeds from the non-public issuance of shares of the Company are set out as below:
|
|
1.
|
The
Company utilised the proceeds reasonably, effectively, scientifically and prudently in strict
compliance with the relevant regulations on the utilisation of proceeds, and strengthened
the cost control and management of all aspects of project construction on the premise of
ensuring project quality and controlling risks, which lowered the total investment of project
and reduced capital investment amounting to RMB505,545,000.
|
|
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2.
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The
capital investment decreased by RMB216,000,000 resulting from the change of the shareholding
of a subsidiary due to its introduction of strategic investors.
|
|
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3.
|
According
to the contract, part of the balance of payment of the retention money have not reached the
payment point, the capital investment to be made amounts to RMB180,345,000.
|
|
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4.
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Approximately
of RMB16,879,100 of interest income was derived from the deposit of the proceeds.
|
There
was a total of RMB918,769,100 in the remaining proceeds due to the above-mentioned reasons.
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IV.
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IMPACT
ON THE COMPANY
|
The
Company will utilise the aforementioned remaining proceeds raised for permanent replenishment of the working capital, which will help
meet the Company’s working capital needs for daily operations, improve the efficiency of capital use and reduce the Company’s
finance costs.
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V.
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INFORMATION
ON SPECIAL OPINIONS
|
Pursuant
to the provisions of Article 19 and Article 20 of the Administrative Measures for Funds Raised by Companies Listed on the Shanghai
Stock Exchange (2013 Revision) 《( 上海證券交易所上市公司募集資金管理辦法
(2013年修訂)》): “Subsequent to the completion of a single
fundraising investment project, any proposed use of remaining proceeds (including interest income) by the listed company for the purpose
of any other fundraising investment projects shall be subject to the consideration and approval of the board and the opinions with explicit
consent given by the independent directors, the sponsor and the supervisory committee. The listed company shall report to the Shanghai
Stock Exchange and make an announcement thereon within 2 trading days after the board meeting. Any proposed use of remaining proceeds
(including interest income) by the listed company in excess of 10% of the net proceeds shall be subject to the approvals of the board
of directors and the shareholders’ general meeting and the opinions with explicit consent given by the independent directors, the
sponsor and the supervisory committee. The listed company shall report to the Shanghai Stock Exchange and make an announcement thereon
within 2 trading days after the board meeting”.
The
balance of the said proceeds was RMB918,769,100 (including interest income), accounting for 28.31% of the net proceeds, falling under
the case of “the balance of the proceeds (including interest income) in excess of 10% of the net proceeds”, subject to the
approvals of the Board and the shareholders’ general meeting and the opinions of the independent directors, the sponsor and the
supervisory committee.
|
|
(I)
|
Opinions
of independent directors
|
The
settlement of fundraising investment projects and use of remaining proceeds as permanent replenishment of working capital by the Company
are in line with the Company’s development strategy and actual business needs, and the Company has fulfilled the necessary approval
procedures in compliance with the relevant rules such as No.2 Regulatory Guidance on Listed Companies – Regulatory Requirements
for Management and Use of Raised Funds of Listed Companies 《( 上市公司監管指引第2
號–上市公司募集資金管理和使用的監管要求》)
and the Administrative Measures for Funds Raised by Companies Listed on the Shanghai Stock Exchange 《(
上海證券交易所上 市公司募集資金管理辦法》),
without harming the interests of the Company and its shareholders. All independent directors unanimously agreed with this arrangement
and agreed to submit this proposal to the general meeting of the Company for consideration.
|
|
(II)
|
Opinions
of the supervisory committee
|
The
Proposal Regarding the Settlement of Fundraising Investment Projects and Use of Remaining Proceeds to Permanently Replenish Working
Capital has been considered and approved at the seventeenth meeting of the tenth session of the supervisory committee held by the
Company on 26 October 2021, at which, the settlement of fundraising investment projects and use of remaining proceeds as well as its
interest derived therefrom as permanent replenishment of working capital were approved.
|
|
(III)
|
Opinions
of the sponsor
|
The
sponsor is of the view that the settlement of fundraising investment projects and use of remaining proceeds as permanent replenishment
of working capital have been fulfilled the necessary approval procedures and complied with relevant requirements. The above matters have
been made based on the actual needs of the Company, which was beneficial to improving the use efficiency of the Company’s proceeds,
strengthening the Company’s operation capacities, reducing financial expenses, meeting the Company’s needs for liquidity
due to business growth without harming the interests of the shareholders and was conducive to the long-term development of the Company
and in the interest of shareholders as a whole. Such matters shall be submitted to the general meeting of the Company for consideration
and put into implementation when relevant statutory procedures are fulfilled and relevant information disclosure are made. The sponsor
agrees to the settlement of fundraising investment projects and use of remaining proceeds as permanent replenishment of working capital.
A
circular containing, among others, the details of the Proposal Regarding the Settlement of Fundraising Investment Projects and Use of
Remaining Proceeds to Permanently Replenish Working Capital and the notice of the Company’s extraordinary general meeting will
be despatched to each shareholder as soon as practicable.
By Order of the Board
Huaneng Power International, Inc.
Huang Chaoquan
Company Secretary
As at
the date of this announcement, the Directors of the Company are:
|
Zhao Keyu (Executive Director)
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Zhao Ping (Executive Director)
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Huang Jian (Non-executive Director)
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Wang Kui (Non-executive Director)
|
|
Lu Fei (Non-executive Director)
|
|
Teng Yu (Non-executive Director)
|
|
Mi Dabin (Non-executive Director)
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|
Cheng Heng (Non-executive Director)
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Li Haifeng (Non-executive Director)
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Lin Chong (Non-executive Director)
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Xu Mengzhou (Independent Non-executive Director)
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Liu Jizhen (Independent Non-executive Director)
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Xu Haifeng (Independent Non-executive Director)
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Zhang Xianzhi (Independent Non-executive Director)
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Xia Qing (Independent Non-executive Director)
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Beijing, the PRC
27
October 2021
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.
DISCLOSEABLE TRANSACTION AND CONTINUING
CONNECTED
TRANSACTIONS
|
HUANENG
FINANCE FRAMEWORK AGREEMENT
On
November 1, 2019, the Company and Huaneng Finance entered into the Huaneng Finance Framework Agreement for a term from 2020 to 2022
to supervise the operation of continuing connected transactions between the Company and Huaneng Finance from 2020 to 2022. However,
the Company responds to the national strategic goal of “Carbon Peak and Carbon Neutrality”, in accordance with the development
plan, and vigorously develops clean energy projects. As the future cash flow of the Company will have a significant growth, and in
conjunction with the Company’s existing accounts receivable and notes receivable with an age of one year, it is necessary to
adjust the limits of deposits, loans and note discounting with Huaneng Finance. Accordingly, on 26 October 2021, the Company and
Huaneng Finance entered into the Huaneng Finance Framework Agreement to adjust and continue to carry out the deposits, note discounting
and loans matters between the Company and Huaneng Finance from 1 January 2022 to 31 December 2024.
The
Huaneng Finance Framework Agreement constitutes the entire framework agreement on deposits, note discounting and loans between the
Company and its subsidiaries and Huaneng Finance from 1 January 2022 and 31 December 2024.
IMPLICATION
UNDER HONG KONG LISTING RULES
As
the applicable percentage ratios relating to the scale of the deposit transactions (based on the maximum daily balances of the deposits)
with Huaneng Finance contemplated under the Huaneng Finance Framework Agreement calculated in accordance with Rule 14.07 of the Hong
Kong Listing Rules exceed 5%, they constitute a discloseable transaction to the Company under Chapter 14 of the Hong Kong Listing
Rules and also continuing connected transactions of the Company under Chapter 14A of the Hong Kong Listing Rules, subject to the
annual reporting, announcement under Rules 14A.71 and 14A.35 of the Hong Kong Listing Rules and Independent Shareholders’ approval
requirements under the Hong Kong Listing Rules.
|
|
With
respect to the note discounting and loan advancement, given that the note discounting services
and loan advancement services provided by Huaneng Finance are for the benefit of the Company
and on normal commercial terms that are comparable to or more favourable than those offered
by independent third parties for similar services in the PRC and that no security is granted
over the assets of the Company in respect of such services, so the transactions for note
discounting services and loan advancement services contemplated under the Huaneng Finance
Framework Agreement are exempt from all the reporting, announcement and Independent Shareholders’
approval requirements pursuant to Rule 14A.90 of the Hong Kong Listing Rules.
EXTRAORDINARY
GENERAL MEETING
The
Company proposes to convene an extraordinary general meeting in December 2021 to seek approval from Independent Shareholders on (among
others) the terms of the deposit transaction (including the maximum daily balances thereof) contemplated under the Huaneng Finance
Framework Agreement. Huaneng Group and its associates (holding an aggregate of 7,286,576,866 ordinary shares in the Company, representing
approximately 46.42% of the total issued shares of the Company as at the date of this announcement) will abstain from voting on the
resolution, among others, with respect to the deposit transaction (including the maximum daily balances thereof) contemplated under
the Huaneng Finance Framework Agreement at such extraordinary general meeting, at which the proposed resolution will be passed by
way of ordinary resolutions and voting will be taken by way of poll in accordance with the requirements of the Hong Kong Listing
Rules.
To
comply with the requirements of the Hong Kong Listing Rules, the Independent Board Committee of the Company will advise the Independent
Shareholders regarding the deposit transaction (including the maximum daily balances thereof) contemplated under the Huaneng Finance
Framework Agreement and will appoint the Independent Financial Adviser to advise the Independent Board Committee and the Independent
Shareholders regarding the deposit transaction (including the maximum daily balances thereof) contemplated under the Huaneng Finance
Framework Agreement.
According
to the requirements of Rules 14A.46(1) and 19A.39A of the Hong Kong Listing Rules and the PRC Company Law, the Company shall despatch
a circular containing, inter alia, further details of the deposit transaction (including the maximum daily balances thereof) contemplated
under the Huaneng Finance Framework Agreement, a letter from the Independent Board Committee and an opinion of the Independent Financial
Advisor to the shareholders as soon as possible but in any event not later than 6 December 2021.
|
BACKGROUND
On
November 1, 2019, the Company and Huaneng Finance entered into the Huaneng Finance Framework Agreement for a term from 2020 to 2022 to
supervise the operation of continuing connected transactions between the Company and Huaneng Finance from 2020 to 2022. However, the
Company responds to the national strategic goal of “Carbon Peak and Carbon Neutrality”, in accordance with the development
plan, and vigorously develops clean energy projects. As the future cash flow of the Company will have a significant growth, and in conjunction
with the Company’s existing accounts receivable and notes receivable with an age of one year, it is necessary to adjust the limits
of deposits, loans and note discounting with Huaneng Finance. Accordingly, on 26 October 2021, the Company and Huaneng Finance entered
into the Huaneng Finance Framework Agreement to adjust and continue to carry out the deposits, note discounting and loans matters between
the Company and Huaneng Finance from 1 January 2022 to 31 December 2024.
The
Huaneng Finance Framework Agreement constitutes the entire framework agreement on deposits, note discounting and loans between the Company
and its subsidiaries and Huaneng Finance from 1 January 2022 and 31 December 2024.
RELATIONSHIP
BETWEEN THE COMPANY, HUANENG GROUP AND HUANENG FINANCE
The
Company and its subsidiaries mainly develop, construct, operate and manage large-scale power plants in China nationwide. It is one of
the largest listed power suppliers in China, with a controlled generation capacity of 115,014 MW and equity-based generation capacity
of 101,388 MW.
Huaneng
Group is principally engaged in the operation and management of enterprise investments; development, investment, construction, operation
and management of power plants; organising the generation and sale of power (and heat); and the development, investment, construction,
production and sale of products in relation to energy, transportation, new energy and environmental protection industries.
Huaneng
Finance is a company incorporated in the PRC, of which the principal business includes absorbing deposits of the member units, handling
loans and financial leasing for the member units, assisting the member units in realizing the receipt and payment of transaction funds,
providing guarantee to the member units, handling entrusted loans among the member units, handling bill acceptance and discounting for
the member units, engaging in inter-bank borrowings, negotiable securities investment, etc.. Huaneng Group holds 52% equity interest
in Huaneng Finance. The Company holds 20% equity interest in Huaneng Finance, which in turn holds 0.39% equity interest in the Company.
As
at the date of publication of this announcement, HIPDC, being the direct controlling shareholder of the Company, holds 32.28% of the
total equity interest in the Company, while Huaneng Group holds a 75% direct equity interest and a 25% indirect equity interest in HIPDC.
Huaneng Group is a stated-owned central enterprise with operating power industries as its main business, which is under the supervision
of the State-owned Assets Supervision and Administration Commission of the State Council. In addition, Huaneng Group holds a 9.91% direct
equity interest in the Company, a 3.01% indirect equity interest in the Company through Hua Neng HK (a wholly-owned subsidiary of Huaneng
Group), a 0.84% indirect equity interest in the Company through Huaneng Group Hong Kong Asset Management Co., Ltd. (a wholly-owned subsidiary
of Huaneng Group) and a 0.39% indirect equity interest in the Company through Huaneng Finance (a controlling subsidiary of Huaneng Group).
Huaneng Group is the ultimate controlling shareholder of the Company.
Under
Chapter 14A of the Hong Kong Listing Rules, Huaneng Group is a connected person of the Company while the transactions between the Company
and Huaneng Group (including its subsidiaries and associates, Huaneng Finance) constitute connected transactions of the Company, and
are subject to the relevant disclosure and/or Independent Shareholders’ approval requirements as stipulated in the Hong Kong Listing
Rules.
HUANENG
FINANCE FRAMEWORK AGREEMENT
Pursuant
to the Huaneng Finance Framework Agreement, the Company and its subsidiaries will conduct the following transactions with Huaneng Finance
on an on-going basis:
The
Company from time to time places deposits with Huaneng Finance at rates which are no less favourable than the rates available from independent
third parties for provision of similar services in the PRC. In addition, the Company will also utilise the note discounting services
provided by Huaneng Finance at a service fee lower than the service fees payable to independent third parties for provision of similar
services in the PRC.
Pursuant
to the 2020-2022 Huaneng Finance Framework Agreement entered into between the Company and Huaneng Finance, for the period from 1 January
2020 to 31 December 2022, the outstanding balances of the Company’s deposits with Huaneng Finance should not exceed RMB14 billion
on a daily basis, the total amount of the note discounting should not exceed RMB1 billion per annum and the maximum balances of loans
should not exceed RMB16 billion (or its equivalent in foreign currency) on a daily basis.
For
the years ended 2019 and 2022, and the period from 1 January 2021 to 30 September 2021, the maximum outstanding balances of the deposits
placed with Huaneng Finance, on a daily basis, were RMB13.00 billion (audited), RMB13.90 billion (audited) and RMB13.90 billion (unaudited),
respectively. The Company estimates that during the period from 2022 to 2024, the outstanding balances of the deposits to be placed with
Huaneng Finance on a daily basis shall not exceed RMB20 billion (or its equivalent in foreign currency).
The
estimates on the relevant deposit amounts from 2022 to 2024 are based on the following considerations: (1) the deposit amounts will successively
increase following the successive expansion of the scale of assets of the Company; (2) the Company has become a shareholder and holds
a 20% equity interest in Huaneng Finance since December 2005, and as such the profit growth in Huaneng Finance brought by the support
from the Company will also bring about more returns for the Company.
The
Company may, from time to time and as necessary, enter into separate implementation agreements with Huaneng Finance for deposit transactions
contemplated under the Huaneng Finance Framework Agreement. Each implementation agreement will set out the specific terms of the particular
deposit transaction. As the implementation agreements are to provide for the deposit services as contemplated by the Huaneng Finance
Framework Agreement, they will not constitute new categories of connected transactions. The terms of such implementation agreements will
be within the bounds of the Huaneng Finance Framework Agreement and the caps thereunder.
The
commercial terms offered under any implementation agreements to be entered into between Huaneng Finance and the Company will be negotiated
on arm’s length terms, taking into account the prevailing market conditions, and will be no less favourable than those offered
to the Company by domestic independent third parties for provision of similar service in the PRC.
The
Directors and senior management of the Company will monitor closely and review regularly the deposit transactions of the Company. The
Company will adopt a series of risk management arrangements, and endeavour to maintain, in relation to the deposit transactions, the
independence of the Company; the fairness of the amount of deposits; the fairness of the terms of the transactions; and the right of
choice of the Company to place deposits with independent third parties other than Huaneng Finance.
The
reporting and record systems and internal control procedures taken by the Company include:
|
|
•
|
the
deposit transactions under the Huaneng Finance Framework Agreement are conducted on a non-exclusive
basis;
|
|
|
•
|
the
Finance Department of the Company implements an interest rate adjustment mechanism. Before
conducting relevant transactions with Huaneng Finance, on aspect of deposit, it will review
whether the terms of deposit provided by Huaneng Finance are (i) not less favourable than
the same type of deposit interest rate announced by PBOC; and (ii) not inferior to the average
interest rate over similar deposit obtained by the Company and its subsidiaries from the
five state-owned banks: The Bank of China Limited, Agricultural Bank of China Limited, Industrial
and Commercial Bank of China Limited, China Construction Bank Corporation and Bank of Communications
Co., Ltd., and on aspect of the loans and note discounting, it will review whether the terms
provided by Huaneng Finance to the Company and its subsidiaries are no less favourable than
the terms the Company and its subsidiaries can obtain from independent third parties. It
enables the Company to obtain the most favorable terms on deposits, loans and note discounting
and maximize the Company’s overall interests in transactions, and reduce the Company’s
transaction costs and time;
|
|
|
•
|
the
Company will conduct quarterly checking and clearing with related parties (including Huaneng
Finance) in relation to the operational fund transfers in order to ensure the safety of funds;
At the same time, the Company reports quarterly the relevant capital occupation to the Beijing
Securities Regulatory Bureau, which will at any time regulate the Company to comply with
relevant regulations
|
|
|
•
|
the
Company will strictly review contracts and timely monitor the amount and interest rate of
the deposit transactions; also, the independent non-executive Directors and the Company’s
auditors will review annually the performance of agreements, in order to review the Company’s
deposit transactions with Huaneng Finance on their fairness and the amount and interest rate
of the deposit transactions on their reasonableness.
|
The
Directors are of the view that the deposit transactions do not have any effect on the assets and liabilities of the Company. Instead,
the Company can earn interests from the deposit transactions.
The
importance and the necessity of the deposit transactions contemplated under the Huaneng Finance Framework Agreement to the Company are
set out as follows:
|
|
(i)
|
The
increase of the cap on the maximum outstanding balances of the deposits (on daily basis)
is to meet the business development of the Company. At the same time, as most of the electricity
payments are usually made by the local power grid companies towards the end of each month,
there exists a gap between the practical need and the existing cap on the maximum outstanding
balances of the deposits (on daily basis). If the maximum outstanding balances of the deposits
(on daily basis) were not adjusted, the Company would need to spend more administrative costs
in relocating the funds under its control more frequently so as to maintain and monitor such
balance to a level not to exceed the maximum cap, thus increasing the Company’s compliance
risks.
|
|
|
(ii)
|
Loans
from Huaneng Finance have to be placed in designated account with Huaneng Finance. Like the
arrangement with other commercial banks, the loans offered by Huaneng Finance are all required
to be deposited in the Company’s designated deposits account with Huaneng Finance.
The deposit transactions with Huaneng Finance help the Company systemically manage the capital
utilization. Being familiar with the business and operation of the Company, Huaneng Finance
is able to provide more cost-efficient, convenient, comprehensive and personalised financial
services to the Company than the deposit services provided by other commercial banks.
|
|
|
(iii)
|
The
deposit interest rates offered to the Company. The deposit interest rates to be offered by
Huaneng Finance will be at least equal to or no less favourable than the then prevailing
deposit rates offered to the Company by domestic independent third parties for provision
of similar services in the PRC.
|
|
|
(iv)
|
The
Company has become a shareholder of Huaneng Finance since December 2005 and holds 20% of
its equity interest. The profit growth of Huaneng Finance derived from the Company’s
support to Huaneng Finance will provide a higher investment return to the Company.
|
|
|
(2)
|
Note
Discounting Services and Loan Advancement Services
|
In
addition, the Company and its subsidiaries will also use the note discounting services and loan advancement services provided by Huaneng
Finance as Huaneng Finance is more efficient in terms of note discounting services and loan advancement services than the general domestic
commercial banks that perform similar services for the Company and its subsidiaries (mainly due to the fact that less time is required
to process the transactions). The Company considers that the provision of note discounting and loan advancement services by Huaneng Finance
will be conducive to increase the operation efficiency in the use of funds by the Company. In respect of the loan services, none of them
will require any security on the part of the Company.
Pursuant
to the Huaneng Finance Framework Agreement, Huaneng Finance shall provide the note discounting and loan advancement services on normal
commercial terms and on terms which are no less favourable than those available from independent third parties. The interest rates on
loan advancement services to be offered by Huaneng Finance to the Company and its subsidiaries will primarily be based on the benchmark
interest down within the range from 5% to 10% basing on the rate by PBOC for the contemporary period, whilst the prices of the note discounting
will be no less favourable than those offered by other major domestic commercial banks.
Pursuant
to the 2020-2022 Huaneng Finance Framework Agreement, the Company’s total transaction amount relating to the note discounting is
RMB1 billion, and the maximum daily loan balance of loans is RMB16 billion (or its equivalent in foreign currency) for each of 2020,
2021 and 2022.
The
Company estimates that the total transaction amount relating to the note discounting services to be provided by Huaneng Finance for each
of 2022, 2023 and 2024 will be RMB4 billion while the maximum loan outstanding balance (on daily basis) for each of 2022, 2023 and 2024
will be RMB23 billion (or its equivalent in foreign currency). The estimates on the amounts of note discounting and loans are based on
the historical note discounting and loans of the Company and its subsidiaries with Huaneng Finance for 2019, 2020 and the period from
1 January 2021 to 30 September 2021 and the scale expansion and business development needs of the Company and its subsidiaries from 2022
to 2024.
FAIRNESS
OF THE CONNECTED TRANSACTION AND THE IMPACT ON THE INDEPENDENCE OF THE COMPANY
The
Huaneng Finance Framework Agreement is signed based on normal commercial terms which are fair and reasonable. The fees/interests involved
in connected transactions must be agreed and confirmed by both parties to the agreement, and consultations and decisions shall be made
in accordance with the prevailing market prices and conditions and the principles of fair terms. The conditions provided to the Company
and its subsidiaries by Huaneng Finance in the relevant agreements and transactions under them shall be based on normal commercial terms
or on terms which are no less favourable than those that the Company and its subsidiaries can obtain from independent third parties.
The Company and its subsidiaries will sign necessary written agreements with Huaneng Finance for specific transactions within the scope
determined by the aforementioned framework agreement based on actual conditions, and pay relevant expenses/interests in the manner agreed
in the specific agreement.
With
respect to the Huaneng Finance Framework Agreement, the Company will adopt a series of management arrangements in accordance with regulatory
requirements to maintain the independence of the Company’s decision-making, the fairness of transaction prices and the Company’s
right to choose related transactions, so as to avoid the reliance on its controlling shareholders and other related parties. Relevant
measures include, but are not limited to, the Company’s right to make independent decisions on transaction prices and quantities,
and to understand and grasp market information through various means, so that the Company’s conditions for the transaction with
Huaneng Finance will be in accordance with the normal commercial terms or on terms that will not be less favourable than those that can
be obtained by the Company and its subsidiaries from independent third parties.
Based
on the above, the Company believes that the Huaneng Finance Framework Agreement and the transactions contemplated under it are in the
interests of the Company and its shareholders as a whole. At the same time, the Company has a complete business system and the ability
to operate independently in the market, the aforementioned framework agreement and the connected transactions contemplated under it will
not impact on the independence of the Company.
PRICING
POLICIES AND CONTROL MEASURES
Deposits,
note discounting and loans are parts of the daily operation of the Company and its subsidiaries, while the commercial terms offered by
Huaneng Finance in respect of such transactions to the Company and its subsidiaries are no less favourable than those terms offered by
most domestic commercial banks in respect of similar transactions. In the meantime, the Company believes that the safety risk of deposits
at Huaneng Finance may be controlled effectively based on the following considerations: (1) as a non-bank financial institution supervised
by Beijing Regulatory Authority of the CBRC, Huaneng Finance insists on conducting business in accordance with the law during the course
of its daily operation, and has all along endeavoured to prevent financial risks and has established and implemented an effective internal
control mechanism during the course of its development, which is in compliance with the regulatory requirements of CBRC in relation to
risk control ratios; (2) as the Company holds 20% equity interest in Huaneng Finance, its own interests may be safeguarded by facilitating
the regular operation of the shareholders’ meeting, the board of directors and the Risk Control Committee of Huaneng Finance through
the lawful exercise of shareholders’ rights. In addition, Huaneng Finance is more efficient than most domestic commercial banks
providing similar services for the Company and its subsidiaries in terms of providing note discounting and loan services, which is mainly
reflected in the shorter duration to process such transactions. Therefore, the Company believes that it is beneficial to improving the
operating efficiency of funds for the Company and its subsidiaries if the note discounting and loan services are provided by Huaneng
Finance.
BOARD’S
CONFIRMATION
The
Board has considered and approved the Huaneng Finance Framework Agreement. Pursuant to the Shanghai Listing Rules and Rule 14A.68(8)
of the Hong Kong Listing Rules, Messrs. Zhao Keyu, Zhao Ping, Huang Jian, Wang Kui, Lu Fei and Teng Yu, all being Directors of the Board
and being regarded as having a material interest in the continuing connected transactions for their management positions in Huaneng Group
and its associates, abstained from voting on the Board resolutions relating to the Huaneng Finance Framework Agreement. The resolution
was voted by Directors who are not connected to the transactions.
The
Board of the Company is of the view that the Huaneng Finance Framework Agreement and the transactions contemplated thereunder was entered
into: (i) in the ordinary and usual course of business of the Company; (ii) on normal commercial terms (on arm’s length terms or
on terms no less favourable to the Company than terms available from independent third parties); and (iii) on terms that are fair and
reasonable and in the interests of the Company and all its shareholders as a whole.
IMPLICATION
UNDER HONG KONG LISTING RULES
As
the applicable percentage ratios relating to the scale of the deposit transactions (based on the maximum daily balances of the deposits)
with Huaneng Finance contemplated under the Huaneng Finance Framework Agreement calculated in accordance with Rule 14.07 of the Hong
Kong Listing Rules exceed 5%, they constitute a discloseable transaction to the Company under Chapter 14 of the Hong Kong Listing Rules
and also continuing connected transactions of the Company under Chapter 14A of the Hong Kong Listing Rules, subject to the annual reporting,
announcement under Rules 14A.71 and 14A.35 of the Hong Kong Listing Rules and Independent Shareholders’ approval requirements under
the Hong Kong Listing Rules.
With
respect to the note discounting and loan advancement, given that the note discounting services and loan advancement services provided
by Huaneng Finance are for the benefit of the Company and on normal commercial terms that are comparable to or more favourable than those
offered by independent third parties for similar services in the PRC and that no security is granted over the assets of the Company in
respect of such services, so the transactions for note discounting services and loan advancement services contemplated under the Huaneng
Finance Framework Agreement are exempt from all the reporting, announcement and Independent Shareholders’ approval requirements
pursuant to Rule 14A.90 of the Hong Kong Listing Rules.
EXTRAORDINARY
GENERAL MEETING
The
Company proposes to convene an extraordinary general meeting in December 2021 to seek approval from Independent Shareholders on (among
others) the terms of the deposit transaction (including the maximum daily balances thereof) contemplated under the Huaneng Finance Framework
Agreement. Huaneng Group and its associates (holding an aggregate of 7,286,576,866 ordinary shares in the Company, representing approximately
46.42% of the total issued shares of the Company as at the date of this announcement) will abstain from voting on the resolution, among
others, with respect to the deposit transaction (including the maximum daily balances thereof) contemplated under the Huaneng Finance
Framework Agreement at such extraordinary general meeting, at which the proposed resolution will be passed by way of ordinary resolutions
and voting will be taken by way of poll in accordance with the requirements of the Hong Kong Listing Rules.
To
comply with the requirements of the Hong Kong Listing Rules, the Independent Board Committee of the Company will advise the Independent
Shareholders regarding the deposit transaction (including the maximum daily balances thereof) contemplated under the Huaneng Finance
Framework Agreement and will appoint the Independent Financial Adviser to advise the Independent Board Committee and the Independent
Shareholders regarding the deposit transaction (including the maximum daily balances thereof) contemplated under the Huaneng Finance
Framework Agreement.
According
to the requirements of Rules 14A.46(1) and 19A.39A of the Hong Kong Listing Rules and the PRC Company Law, the Company shall despatch
a circular containing, inter alia, further details of the deposit transaction (including the maximum daily balances thereof) contemplated
under the Huaneng Finance Framework Agreement, a letter from the Independent Board Committee and an opinion of the Independent Financial
Advisor to the shareholders as soon as possible but in any event not later than 6 December 2021.
DEFINITIONS
|
“2020-2022
Huaneng Finance Framework Agreement”
|
the
framework agreement on the continuing connected transactions (for 2020-2022) between Huaneng Power International, Inc. and China
Huaneng Finance Corporation Limited entered into between the Company and Huaneng Finance on 1 November 2019
|
|
|
|
|
“associate(s)”
|
has
the meaning ascribed to it in the Hong Kong Listing Rules
|
|
|
|
|
“Board”
|
the
board of Directors of the Company
|
|
|
|
|
“Company”
|
Huaneng
Power International, Inc.
|
|
“connected
person(s)”
|
has
the meaning ascribed to it in the Hong Kong Listing Rules
|
|
|
|
|
“Director(s)”
|
the
director(s) of the Company
|
|
|
|
|
“HIPDC”
|
Huaneng
International Power Development Corporation
|
|
|
|
|
“Hong
Kong Listing Rules”
|
The
Rules Governing the Listing of Securities on the Hong Kong Stock Exchange
|
|
|
|
|
“Hua
Neng HK”
|
China
Hua Neng Group Hong Kong Limited
|
|
|
|
|
“Huaneng
Finance”
|
China
Huaneng Finance Corporation Limited
|
|
|
|
|
“Huaneng
Finance Framework Agreement”
|
the
framework agreement on the continuing connected transactions (for 2022-2024) between Huaneng Power International, Inc. and China
Huaneng Finance Corporation Limited entered into between the Company and Huaneng Finance on 26 October 2021
|
|
|
|
|
“Huaneng
Group”
|
China
Huaneng Group Co., Ltd.
|
|
|
|
|
“Independent
Board Committee”
|
a
committee of the Board established for the purpose of considering the transactions regarding the deposit transactions (including
the maximum daily balances thereof) contemplated under the Huaneng Finance Framework Agreement, comprising independent non- executive
Directors who are independent of these transactions
|
|
|
|
|
“Independent
Financial Adviser”, “Gram Capital”
|
Gram
Capital Limited, a licensed corporation to carry on Type 6 (advising on corporate finance) regulated activity as defined under the
Securities and Futures Ordinance (Cap.571 of the laws of Hong Kong), an independent financial adviser to be appointed to advise the
Independent Board Committee and the Independent Shareholders on the transactions regarding the deposit transaction (including the
maximum daily balances thereof) contemplated under the Huaneng Finance Framework Agreement
|
|
|
|
|
“Independent
Shareholders”
|
shareholders
of the Company other than Huaneng Group and its associates
|
|
|
|
|
“PBOC”
|
The
People’s Bank of China;
|
|
|
|
|
“PRC”
|
The
People’s Republic of China
|
|
|
|
|
“RMB”
|
Renminbi,
the lawful currency of the PRC
|
|
“Shanghai
Listing Rules”
|
The
Rules Governing the Listing of Securities on the Shanghai Stock Exchange
|
|
|
|
|
“Stock
Exchange”
|
The
Stock Exchange of Hong Kong Limited
|
|
|
|
|
“subsidiary(ies)”
|
has
the meaning ascribed to it in the Hong Kong Listing Rules
|
By
the Order of the Board
Huaneng
Power International, Inc.
Huang
Chaoquan
Company
Secretary
As
at the date of this announcement, the Directors of the Company are:
|
Zhao
Keyu (Executive Director)
|
|
Zhao
Ping (Executive Director)
|
|
Huang
Jian (Non-executive Director)
|
|
Wang
Kui (Non-executive Director)
|
|
Lu
Fei (Non-executive Director)
|
|
Teng
Yu (Non-executive Director)
|
|
Mi
Dabin (Non-executive Director)
|
|
Cheng
Heng (Non-executive Director)
|
|
Li
Haifeng (Non-executive Director)
|
|
Lin
Chong (Non-executive Director)
|
|
Xu
Mengzhou (Independent Non-executive Director)
|
|
Liu
Jizhen (Independent Non-executive Director)
|
|
Xu
Haifeng (Independent Non-executive Director)
|
|
Zhang
Xianzhi (Independent Non-executive Director)
|
|
Xia
Qing (Independent Non-executive Director)
|
Beijing,
the PRC
27 October 2021
Hong Kong Exchanges and Clearing Limited and
The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, 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 document.
THIRD QUARTERLY REPORT OF 2021
|
Pursuant to the regulations of the Shanghai Stock
Exchange, the Company is required to publish a third quarter report.
All financial information set out in this quarterly
report is unaudited and prepared in accordance with the PRC Accounting Standards (“PRC GAAP”).
This announcement is made by the Company pursuant
to Rule 13.09 and Rules 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 (Chapter 571, Laws of Hong Kong).
|
|
|
1.1
|
The board of directors and the supervisory committee of Huaneng Power International, Inc. (the “Company”,
“Huaneng Power International”) together with the members thereof and the senior management warrant that the information contained
in this report does not contain any false statements, misleading representations or material omissions. All of them jointly and severally
accept responsibility as to the truthfulness, accuracy and completeness of the content of this report.
|
|
|
1.2
|
All financial information set out in this quarterly report is unaudited and prepared in accordance with
the PRC GAAP.
|
|
|
1.3
|
Legal representative, person in charge of accounting function and person in charge of the Accounting Department
warrant the truthfulness, accuracy and completeness of the content of the quarterly report.
|
|
|
1.4
|
This announcement is made by the Company pursuant to Rule 13.09 and Rules 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 (Chapter 571, Laws of Hong Kong).
|
|
|
2.
|
MAJOR FINANCIAL INFORMATION
|
|
|
2.1
|
Major financial information (PRC GAAP) (unaudited)
|
(Amounts: In RMB Yuan)
|
Items
|
|
For
the
quarter ended
30
September in 2021
|
|
|
For
the quarter ended
30 September in 2020
|
|
|
Variance
from
equivalent
period of
last year
(%)
|
|
|
From
the
beginning of the
year to the end of
current reporting
period (January
to September)
|
|
|
From
the beginning of the
preceding year to the end of the
equivalent period
(January to September)
|
|
|
Variance
from
equivalent
period of
last year
(%)
|
|
|
|
|
|
|
|
|
|
|
(Restated)
|
|
|
(Restated)
|
|
|
|
|
|
|
|
|
(Restated)
|
|
|
(Restated)
|
|
|
Operating
revenue
|
|
|
49,889,865,731
|
|
|
|
42,701,695,636
|
|
|
|
42,705,812,476
|
|
|
|
16.82
|
|
|
|
145,005,454,078
|
|
|
|
121,823,399,760
|
|
|
|
121,854,667,793
|
|
|
|
19.00
|
|
|
Net
profit attributable to equity holders of the Company
|
|
|
(3,499,249,295
|
)
|
|
|
3,400,535,943
|
|
|
|
3,395,663,635
|
|
|
|
(203.05
|
)
|
|
|
782,886,659
|
|
|
|
9,133,456,650
|
|
|
|
9,127,930,870
|
|
|
|
(91.42
|
)
|
Net
profit after deducting non-recurring items attributable to equity holders
of the Company
|
|
|
(3,656,942,803
|
)
|
|
|
3,376,130,264
|
|
|
|
3,376,130,264
|
|
|
|
(208.32
|
)
|
|
|
211,407,464
|
|
|
|
8,851,504,370
|
|
|
|
8,851,504,370
|
|
|
|
(97.61
|
)
|
|
Net
cash flows generated from operating activities
|
|
|
Not
applicable
|
|
|
|
Not
applicable
|
|
|
|
Not
applicable
|
|
|
|
Not
applicable
|
|
|
|
22,794,446,279
|
|
|
|
27,240,079,779
|
|
|
|
27,267,650,082
|
|
|
|
(16.40
|
)
|
|
Basic
earnings per share (RMB per share)
|
|
|
(0.26
|
)
|
|
|
0.18
|
|
|
|
0.18
|
|
|
|
(244.44
|
)
|
|
|
(0.05
|
)
|
|
|
0.50
|
|
|
|
0.50
|
|
|
|
(110.00
|
)
|
|
Diluted
earnings per share (RMB per share)
|
|
|
(0.26
|
)
|
|
|
0.18
|
|
|
|
0.18
|
|
|
|
(244.44
|
)
|
|
|
(0.05
|
)
|
|
|
0.50
|
|
|
|
0.50
|
|
|
|
(110.00
|
)
|
|
Return
on net assets (weighted average) (%)
|
|
|
(5.69
|
)
|
|
|
3.74
|
|
|
|
3.74
|
|
|
|
(9.43
|
)
|
|
|
(1.14
|
)
|
|
|
10.24
|
|
|
|
10.30
|
|
|
|
(11.44
|
)
|
|
|
|
End of current
reporting period
|
|
|
End of last year
|
|
|
Variance
from end of
last year
(%)
|
|
|
Total Assets
|
|
|
453,462,575,652
|
|
|
|
438,205,752,374
|
|
|
|
3.48
|
|
|
Equity attributable to equity holders of the Company
|
|
|
116,779,970,398
|
|
|
|
121,698,538,280
|
|
|
|
(4.04
|
)
|
Note:
Reason for restatement: Business combination
under common control.
|
2.2
|
Non-recurring items and amounts
|
(Amounts: In RMB Yuan)
|
Items
|
|
Total amount
of current
reporting period
(July to September)
|
|
|
Total amount
from the
beginning of the
year to the end
of current
reporting period
(January to September)
|
|
|
Notes
|
|
Gains from disposal of non-current assets
|
|
|
9,488,467
|
|
|
|
199,656,190
|
|
|
Mainly generated from disposal of buildings of Luohuang Power, a subsidiary of the Company.
|
Government grant
recorded in income statement, excluding government grant closely related to the
Company’s business and calculated
according to national unified standards
|
|
|
143,263,936
|
|
|
|
578,526,146
|
|
|
|
|
Gains/(losses) from the changes in fair
value from held-for-trading financial assets, held-for-trading financial liabilities other than those hedging instruments
relating to normal business, and investment income from disposal of held-for-trading financial assets, held-for-trading financial
liabilities and available-for-sale financial assets
|
|
|
27,789
|
|
|
|
–
|
|
|
|
|
Reversal of provision for doubtful accounts receivable individually tested for impairments
|
|
|
8,029,321
|
|
|
|
11,601,474
|
|
|
|
|
Profits and losses from entrusted loans
|
|
|
791,504
|
|
|
|
4,138,541
|
|
|
|
|
Other non-operating income and expenses excluding the above items
|
|
|
10,618,254
|
|
|
|
(804,919
|
)
|
|
|
|
Other non-recurring items
|
|
|
(1,887,831
|
)
|
|
|
(5,719,623
|
)
|
|
|
|
Less: Tax impact of non-recurring items
|
|
|
(34,350,192
|
)
|
|
|
72,408,557
|
|
|
|
|
Impact of non-controlling interests, net of tax
|
|
|
46,988,124
|
|
|
|
143,510,057
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
157,693,508
|
|
|
|
571,479,195
|
|
|
|
The Company and its subsidiaries recognised
extraordinary profit and loss items in accordance with the requirement of explanatory Announcement No.1 on Information Disclosure for
Companies Offering Their Securities to the Public_ Extraordinary Profit and Loss.
|
|
þ
Applicable
|
¨
Not applicable
|
Among the government subsidies included
in the current profit and loss, the value-added tax levied immediately returned is closely related to normal business operations and conforms
to national policies. It is continuously enjoyed in accordance with a certain standard with fixed or quantitative amount, so it is not
included in non-recurring items. The carbon emissions trading costs and incomes are not included in non-recurring items because they are
closely related to normal business operations. The specific details are as follows:
(Amounts: In RMB Yuan)
|
|
|
Total amount
from the
beginning of
the year to the
end of current
reporting
period
(January to
September)
|
|
|
Reason
|
|
Value-added tax levied immediately returned
|
|
|
147,970,993
|
|
|
Closely related to the normal business of the Company
|
|
Carbon emissions trading costs
|
|
|
(122,384,567
|
)
|
|
Closely related to the normal business of the Company
|
|
Carbon emissions trading incomes
|
|
|
7,476,476
|
|
|
Closely related to the normal business of the Company
|
|
|
2.3
|
Disclosure as to, and reasons for, material changes in accounting items and financial indices of the Company
|
|
|
Item Name
|
Fluctuation (%)
|
Main Reasons
|
|
|
|
|
|
|
|
Items of Consolidated Statement of Financial Position:
|
|
|
Derivative financial assets (Current portion)
|
635.64
|
Mainly due to the continuous increase in the HSFO index, resulting in an increase in the fair value of fuel swap contracts held by the Company’s subsidiary, SinoSing Power.
|
|
|
Notes receivable
|
(45.72)
|
Mainly due to the reduce in bill settlement ratios in some regional power grid companies.
|
|
|
Accounts receivable
|
18.42
|
Mainly due to the increase of power generation revenue and the tariff premium of renewable energy.
|
|
|
Accounts receivable financing
|
(80.22)
|
Mainly due to the expiration of factoring arrangement of Shandong Power, a subsidiary of the Company.
|
|
|
Advances to suppliers
|
66.11
|
Mainly due to the increase in prepayments of fuel.
|
|
|
Other receivables
|
31.14
|
Mainly due to the increase in dividend receivables announced by the Company’s joint venture Shanghai Time Shipping Co., Ltd and the land disposal payment of Luohuang Power, a subsidiary of the Company.
|
|
|
Inventories
|
14.38
|
Mainly due to the sharply increase in coal price.
|
|
|
Other current assets
|
29.56
|
Mainly due to the Company’s investment in new projects, which led to an increase in deductible VAT within one year.
|
|
|
Long-term equity investments
|
4.50
|
Mainly due the Company’s additional investment in Jining Huayuan Thermal Power, Shidaowan Nuclear Power and other joint ventures in the current period, with a total amount of RMB580 million. Other influence including recognising investment income, other comprehensive income and dividend from Shenzhen Energy and other associates and joint ventures.
|
|
|
Other equity instrument investments
|
15.99
|
Mainly due to the increase of the Company’s investment in Fujian, Hainan, Jiangsu, Tianjin, Liaoning, Jilin and other provincial power trading centers.
|
|
|
Fixed assets
|
0.67
|
Mainly due to the completion of construction in progress transferred into fixed assets which amounting to RMB16.223 billion and RMB15.633 billion in depreciation of fixed assets.
|
|
|
Item Name
|
Fluctuation (%)
|
Main Reasons
|
|
|
|
|
|
|
|
Construction-in-progress
|
10.29
|
Mainly due to the increase in the Company’s investment in capital construction projects during the current period.
|
|
|
Right-of-use assets
|
(12.40)
|
Mainly due to the early repayment of lease liabilities by Poyang Luohong Power, a subsidiary of the Company. The corresponding right-of-use assets were derecognised and transferred to fixed assets.
|
|
|
Other non-current assets
|
43.80
|
Mainly due to the payment from the external financial leasing company for the equipment of Zhuanghe offshore wind power project, which was in the early stage of initial construction and did not meet the conditions of lease recognition.
|
|
|
Short-term loans
|
11.17
|
Mainly due to the combined impact of the increase of RMB7.84 billion of the Company’s current credit loan.
|
|
|
Derivative financial liabilities (Current portion)
|
(61.14)
|
Mainly due to the appreciation of the U.S. dollar against the Singapore dollar in the current period and the continuous rise in HSFO index and the expiration of some contracts of the Company’s subsidiary, SinoSing Power.
|
|
|
Notes payable
|
69.79
|
Mainly due to the increase in the bill settlement of the Company’s subsidiaries in the current period.
|
|
|
Accounts payable
|
19.32
|
Mainly due to the increase in fuel payables.
|
|
|
Contract liabilities
|
(26.67)
|
Mainly due to the reduction in the balance of pre-collected heat charges due to the recognized revenue of the heating season.
|
|
|
Taxes payable
|
(43.85)
|
Mainly due to the increase in coal prices and the increase in deductible tax related to fuel purchases, the balance of value-added tax payable decreased.
|
|
|
Current portion of non-current liabilities
|
(39.76)
|
Mainly due to the decrease in bonds payable, long-term loans and lease liabilities due within one year of the Company and its subsidiaries.
|
|
|
Other current liabilities
|
25.75
|
Mainly due to the increase in the balance of short-term bonds payable by the Company.
|
|
|
Long-term loans
|
11.83
|
Mainly due to the new borrowings for infrastructure investment in the current period.
|
|
|
Bonds payable
|
33.25
|
Mainly due to the Company’s issuance of new mid-term notes and corporate bonds etc.
|
|
|
Item Name
|
Fluctuation (%)
|
Main Reasons
|
|
|
|
|
|
|
|
Long-term payables
|
354.02
|
Mainly due to the payment from the external financial leasing company for the equipment of Zhuanghe offshore wind power project, which was in the early stage of initial construction and did not meet the conditions of lease recognition.
|
|
|
Other comprehensive income
|
(22.18)
|
Mainly due to the increase in the fair value of the fuel swap contracts of SinoSing Power and currency translation differences.
|
|
|
Items of Income statement:
|
|
|
Operating revenue
|
19.00
|
Mainly due to the increase in the Company’s domestic sales of electricity.
|
|
|
Operating cost
|
36.53
|
Mainly due to the combined effects of rising domestic fuel prices and rising power generation volume.
|
|
|
Research and development expenses
|
83.80
|
Mainly due to the increase of the Company’s investment in its R&D projects related to its main business.
|
|
|
Financial expenses
|
(9.67)
|
Mainly due to the period-on-period decline in the average interest rate level.
|
|
|
Investment income
|
(17.85)
|
Mainly due to the period-on-period decrease in investment income from joint ventures such as Shenzhen Energy under equity method.
|
|
|
Gain on disposal of assets
|
9,102.29
|
Mainly due to the land disposal income of Luohuang Power, a subsidiary of the Company.
|
|
|
Items of cash flow statement
|
|
|
Net cash flows generated from operating activities
|
(16.40)
|
Mainly because that the increase in cash inflow from operating activities due to the period-on-period increase in electricity sales was lower than the increase in cash outflow from operating activities due to the period-on-period increase in fuel costs.
|
|
|
Net cash flows used in investing activities
|
3.69
|
Mainly due to the increase in the Company’s investment in new projects during the current period, leading to the increase in fixed asset purchases, engineering expenditures and engineering material purchases.
|
|
|
Net cash flows generated from financing activities
|
6,435.90
|
Mainly due to the increase in the net financing amount of the Company during the current period.
|
|
|
3.
|
SHAREHOLDERS INFORMATION
|
The
total number of ordinary shareholders, the number of preference shareholders whose voting rights have been restored, and the shareholding
status of the top ten shareholders
Unit: share
|
Total number of ordinary shareholders at the end of the reporting period
|
105,214
|
Total number of preference shareholders whose voting rights have been restored at the end of the reporting period (if any)
|
–
|
|
Top ten shareholders
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Status on charges or
pledges etc.
|
|
|
Name (in full) of shareholders
|
|
|
Nature of
shareholders
|
|
|
|
Number of
shares held at
end of reporting
period
|
|
|
|
Percentage
(%)
|
|
|
|
Number of
shares held
with selling
restriction
|
|
|
|
Status of
shares
|
|
|
|
Number
|
|
|
Huaneng International Power Development Corporation
|
|
|
State-owned entity
|
|
|
|
5,066,662,118
|
|
|
|
32.28
|
|
|
|
–
|
|
|
|
Nil
|
|
|
|
–
|
|
|
HKSCC Nominees Limited
|
|
|
Foreign entity
|
|
|
|
4,100,072,402
|
|
|
|
26.12
|
|
|
|
–
|
|
|
|
Nil
|
|
|
|
–
|
|
|
China Huaneng Group Co., Ltd.
|
|
|
State-owned entity
|
|
|
|
1,555,124,549
|
|
|
|
9.91
|
|
|
|
–
|
|
|
|
Nil
|
|
|
|
–
|
|
|
Hebei Construction & Investment Group Co., Ltd.
|
|
|
State-owned entity
|
|
|
|
502,183,246
|
|
|
|
3.20
|
|
|
|
–
|
|
|
|
Nil
|
|
|
|
–
|
|
|
China Hua Neng Group Hong Kong Limited
|
|
|
Foreign entity
|
|
|
|
472,000,000
|
|
|
|
3.01
|
|
|
|
–
|
|
|
|
Nil
|
|
|
|
–
|
|
|
China Securities Finance Corporation Limited
|
|
|
State-owned entity
|
|
|
|
466,953,720
|
|
|
|
2.97
|
|
|
|
–
|
|
|
|
Nil
|
|
|
|
–
|
|
|
Jiangsu Guoxin Investment Group Limited
|
|
|
State-owned entity
|
|
|
|
334,945,600
|
|
|
|
2.13
|
|
|
|
–
|
|
|
|
Nil
|
|
|
|
–
|
|
|
Liaoning Energy Investment (Group) Limited Liability Company
|
|
|
State-owned entity
|
|
|
|
284,204,999
|
|
|
|
1.81
|
|
|
|
–
|
|
|
|
Nil
|
|
|
|
–
|
|
|
Fujian Investment Development Group Liability Company
|
|
|
State-owned entity
|
|
|
|
251,814,185
|
|
|
|
1.60
|
|
|
|
–
|
|
|
|
Nil
|
|
|
|
–
|
|
|
Dalian Municipal Construction Investment Company Limited
|
|
|
State-owned entity
|
|
|
|
151,500,000
|
|
|
|
0.97
|
|
|
|
–
|
|
|
|
Charges
|
|
|
|
149,375,000
|
|
|
Top ten holders of circulating shares whose shares are not subject to selling restrictions
|
|
|
|
Number of shares in
circulation without any
selling restrictions as at
|
|
|
Type and number of shares
|
|
Name (in full) of shareholders
|
|
the end of the reporting
period
|
|
|
Type
|
|
Number
|
|
|
Huaneng International Power Development Corporation
|
|
|
5,066,662,118
|
|
|
RMB denominated ordinary shares
|
|
|
5,066,662,118
|
|
|
HKSCC Nominees Limited
|
|
|
4,100,072,402
|
|
|
Overseas listed foreign invested shares
|
|
|
4,100,072,402
|
|
|
China Huaneng Group Co., Ltd.
|
|
|
1,555,124,549
|
|
|
RMB denominated ordinary shares
|
|
|
1,555,124,549
|
|
|
Hebei Construction & Investment Group Co., Ltd.
|
|
|
502,183,246
|
|
|
RMB denominated ordinary shares
|
|
|
502,183,246
|
|
|
China Hua Neng Group Hong Kong Limited
|
|
|
472,000,000
|
|
|
Overseas listed foreign invested shares
|
|
|
472,000,000
|
|
|
China Securities Finance Corporation Limited
|
|
|
466,953,720
|
|
|
RMB denominated ordinary shares
|
|
|
466,953,720
|
|
|
Jiangsu Guoxin Investment Group Limited
|
|
|
334,945,600
|
|
|
RMB denominated ordinary shares
|
|
|
334,945,600
|
|
|
Liaoning Energy Investment (Group) Limited Liability
Company
|
|
|
284,204,999
|
|
|
RMB denominated ordinary shares
|
|
|
284,204,999
|
|
|
Fujian Investment Development Group Limited Liability
Company
|
|
|
251,814,185
|
|
|
RMB denominated ordinary shares
|
|
|
251,814,185
|
|
|
Dalian Municipal Construction Investment Company
Limited
|
|
|
151,500,000
|
|
|
RMB denominated ordinary shares
|
|
|
151,500,000
|
|
|
Details relating to the related relationship of the above
shareholders or the parties acting in concert
|
|
|
Among the above shareholders, China Huaneng Group Co., Ltd.,
Huaneng International Power Development Corporation and China Hua Neng Group Hong Kong Limited are regarded as parties acting in concert under the “Management Rules on Acquisition of Listing Companies”. The Company is not aware of any related relationship among other shareholders.
|
|
Description of the top 10 shareholders and the top 10
unrestricted shareholders participating in margin trading and securities lending and refinancing business (if any)
|
|
|
–
|
Other important information about
the Company’s operating conditions during the reporting period that need to remind investors
|
|
þ
Applicable
|
¨
Not applicable
|
During the reporting period, the increase
in coal prices had a relatively major impact on the Company’s operations.
|
|
5
|
QUARTERLY FINANCIAL STATEMENT
|
¨
Applicable þ Not applicable
HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED STATEMENT OF
FINANCIAL POSITION
(PRC GAAP)
AS AT 30 SEPTEMBER 2021
Amounts: In RMB Yuan, Except as noted
|
ASSETS
|
|
30 September 2021
|
|
|
31 December 2020
|
|
|
|
|
Consolidated
|
|
|
Consolidated
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
Bank balances and cash
|
|
|
14,484,105,013
|
|
|
|
13,871,523,445
|
|
|
Derivative financial assets
|
|
|
810,523,686
|
|
|
|
110,178,653
|
|
|
Notes receivable
|
|
|
4,519,330,297
|
|
|
|
8,325,965,654
|
|
|
Accounts receivable
|
|
|
33,909,547,464
|
|
|
|
28,633,861,767
|
|
|
Accounts receivable financing
|
|
|
248,424,172
|
|
|
|
1,255,887,993
|
|
|
Advances to suppliers
|
|
|
2,583,541,336
|
|
|
|
1,555,336,077
|
|
|
Other receivables
|
|
|
2,816,900,093
|
|
|
|
2,148,012,863
|
|
|
Inventories
|
|
|
7,552,012,279
|
|
|
|
6,602,459,007
|
|
|
Contract assets
|
|
|
44,048,223
|
|
|
|
29,678,153
|
|
|
Current portion of non-current assets
|
|
|
525,960,959
|
|
|
|
478,681,793
|
|
|
Other current assets
|
|
|
4,050,245,034
|
|
|
|
3,126,045,908
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets
|
|
|
71,544,638,556
|
|
|
|
66,137,631,313
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
Derivative financial assets
|
|
|
204,306,237
|
|
|
|
74,554,339
|
|
|
Long-term receivables
|
|
|
9,720,641,940
|
|
|
|
10,286,927,639
|
|
|
Long-term equity investments
|
|
|
23,224,330,862
|
|
|
|
22,224,738,792
|
|
|
Other equity instrument investments
|
|
|
771,289,803
|
|
|
|
664,946,056
|
|
|
Investment property
|
|
|
621,001,198
|
|
|
|
647,470,539
|
|
|
Fixed assets
|
|
|
245,324,366,030
|
|
|
|
243,701,964,464
|
|
|
Construction-in-progress
|
|
|
56,889,038,388
|
|
|
|
51,579,694,944
|
|
|
Right-of-use assets
|
|
|
5,968,356,533
|
|
|
|
6,812,966,364
|
|
|
Intangible assets
|
|
|
13,780,340,486
|
|
|
|
14,090,511,406
|
|
|
Goodwill
|
|
|
11,332,925,063
|
|
|
|
11,696,735,103
|
|
|
Long-term deferred expenses
|
|
|
154,290,064
|
|
|
|
127,210,330
|
|
|
Deferred income tax assets
|
|
|
3,625,300,572
|
|
|
|
2,996,689,691
|
|
|
Other non-current assets
|
|
|
10,301,749,920
|
|
|
|
7,163,711,394
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-current assets
|
|
|
381,917,937,096
|
|
|
|
372,068,121,061
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS
|
|
|
453,462,575,652
|
|
|
|
438,205,752,374
|
|
|
LIABILITIES AND EQUITY
|
|
30 September 2021
|
|
|
31 December 2020
|
|
|
|
|
Consolidated
|
|
|
Consolidated
|
|
|
CURRENT LIABILITIES
|
|
|
|
|
|
|
|
|
|
Short-term loans
|
|
|
73,718,402,459
|
|
|
|
66,311,160,062
|
|
|
Derivative financial liabilities
|
|
|
41,529,505
|
|
|
|
106,861,682
|
|
|
Notes payable
|
|
|
2,006,588,203
|
|
|
|
1,181,836,586
|
|
|
Accounts payable
|
|
|
17,415,349,979
|
|
|
|
14,595,947,809
|
|
|
Contract liabilities
|
|
|
2,129,068,262
|
|
|
|
2,903,295,902
|
|
|
Salary and welfare payables
|
|
|
1,276,111,265
|
|
|
|
955,117,838
|
|
|
Taxes payable
|
|
|
1,148,234,202
|
|
|
|
2,044,868,790
|
|
|
Other payables
|
|
|
24,773,512,001
|
|
|
|
26,088,007,806
|
|
|
Current portion of non-current liabilities
|
|
|
20,619,777,379
|
|
|
|
34,228,813,571
|
|
|
Other current liabilities
|
|
|
7,082,589,929
|
|
|
|
5,632,180,524
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities
|
|
|
150,211,163,184
|
|
|
|
154,048,090,570
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT LIABILITIES
|
|
|
|
|
|
|
|
|
|
Long-term loans
|
|
|
125,341,643,684
|
|
|
|
112,077,394,506
|
|
|
Derivative financial liabilities
|
|
|
86,242,097
|
|
|
|
188,139,392
|
|
|
Bonds payable
|
|
|
27,160,195,002
|
|
|
|
20,382,405,580
|
|
|
Lease liabilities
|
|
|
4,224,665,847
|
|
|
|
3,774,175,853
|
|
|
Long-term payables
|
|
|
2,974,848,306
|
|
|
|
655,227,903
|
|
|
Long-term employee benefits payable
|
|
|
49,889,098
|
|
|
|
51,065,130
|
|
|
Provision
|
|
|
31,146,429
|
|
|
|
12,181,164
|
|
|
Deferred income
|
|
|
1,856,710,926
|
|
|
|
1,940,144,115
|
|
|
Deferred income tax liabilities
|
|
|
1,070,295,004
|
|
|
|
977,810,420
|
|
|
Other non-current liabilities
|
|
|
2,609,120,395
|
|
|
|
2,623,763,846
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-current liabilities
|
|
|
165,404,756,788
|
|
|
|
142,682,307,909
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES
|
|
|
315,615,919,972
|
|
|
|
296,730,398,479
|
|
|
LIABILITIES AND EQUITY (continued)
|
|
30 September 2021
|
|
|
31 December 2020
|
|
|
|
|
Consolidated
|
|
|
Consolidated
|
|
|
EQUITY
|
|
|
|
|
|
|
|
Share capital
|
|
|
15,698,093,359
|
|
|
|
15,698,093,359
|
|
|
Other equity instruments
|
|
|
47,939,693,354
|
|
|
|
48,419,779,167
|
|
|
Capital surplus
|
|
|
17,650,480,126
|
|
|
|
18,551,589,304
|
|
|
Other comprehensive income
|
|
|
(372,452,649
|
)
|
|
|
(478,627,559
|
)
|
|
Special reserves
|
|
|
76,415,160
|
|
|
|
73,076,887
|
|
|
Surplus reserves
|
|
|
8,186,274,738
|
|
|
|
8,186,274,738
|
|
|
Undistributed profits
|
|
|
27,601,466,310
|
|
|
|
31,248,352,384
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity attributable to equity holders of the Company
|
|
|
116,779,970,398
|
|
|
|
121,698,538,280
|
|
|
Non-controlling interests
|
|
|
21,066,685,282
|
|
|
|
19,776,815,615
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity
|
|
|
137,846,655,680
|
|
|
|
141,475,353,895
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND EQUITY
|
|
|
453,462,575,652
|
|
|
|
438,205,752,374
|
|
|
Legal representative
|
Person in charge of
accounting function
|
Person in charge of
accounting department
|
|
Zhao Keyu
|
Huang Lixin
|
Wei Zhongqian
|
HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED STATEMENT
OF COMPREHENSIVE INCOME (PRC GAAP)
FOR THE NINE MONTHS ENDED 30 SEPTEMBER
2021
Amounts: In RMB Yuan, Except as noted
|
|
|
2021
|
|
|
2020
|
|
|
|
|
Consolidated
|
|
|
Consolidated
|
|
|
|
|
|
|
|
(Restated)
|
|
|
Operating revenue
|
|
|
145,005,454,078
|
|
|
|
121,854,667,793
|
|
|
Less: Operating cost
|
|
|
133,764,643,470
|
|
|
|
97,971,865,893
|
|
|
Tax and levies on operations
|
|
|
1,345,738,967
|
|
|
|
1,348,142,876
|
|
|
Selling expenses
|
|
|
154,383,380
|
|
|
|
89,811,885
|
|
|
General and administrative expenses
|
|
|
3,751,345,753
|
|
|
|
3,082,896,296
|
|
|
Research and development expenses
|
|
|
301,035,184
|
|
|
|
163,783,720
|
|
|
Financial expenses
|
|
|
6,213,791,333
|
|
|
|
6,879,323,586
|
|
|
Add: Other income
|
|
|
691,142,895
|
|
|
|
616,907,062
|
|
|
Investment income
|
|
|
1,229,074,616
|
|
|
|
1,496,123,976
|
|
|
Including: Investment income from associates and joint ventures
|
|
|
1,237,834,671
|
|
|
|
1,597,734,242
|
|
|
Gain on derecognition of financial assets measured at amortised cost
|
|
|
(8,469,778
|
)
|
|
|
(31,632,708
|
)
|
|
Loss on fair value changes of financial assets/liabilities
|
|
|
–
|
|
|
|
(3,497,319
|
)
|
|
Credit loss
|
|
|
11,160,132
|
|
|
|
(67,161,656
|
)
|
|
Assets impairment loss
|
|
|
(356,359
|
)
|
|
|
(129,946,941
|
)
|
|
Gain on disposal of assets
|
|
|
180,087,241
|
|
|
|
1,956,982
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit
|
|
|
1,585,624,516
|
|
|
|
14,233,225,641
|
|
|
Add: Non-operating income
|
|
|
200,081,314
|
|
|
|
183,682,213
|
|
|
Less: Non-operating expenses
|
|
|
260,871,131
|
|
|
|
290,565,667
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before tax
|
|
|
1,524,834,699
|
|
|
|
14,126,342,187
|
|
|
Less: Income tax expense
|
|
|
692,872,794
|
|
|
|
2,914,681,253
|
|
|
|
|
|
|
|
|
|
|
|
|
Net profit
|
|
|
831,961,905
|
|
|
|
11,211,660,934
|
|
|
|
|
|
|
|
|
|
|
|
|
Including: The net income of the merged parties before the merger under common control
|
|
|
–
|
|
|
|
(6,907,224
|
)
|
|
|
|
|
|
|
|
|
|
|
|
(1) Classification according to the continuity of operation
|
|
|
|
|
|
|
|
|
|
Continuous operating net profit
|
|
|
831,961,905
|
|
|
|
11,211,660,934
|
|
|
|
|
|
|
|
|
|
|
|
|
(2) Classification according to ownership
|
|
|
|
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
|
|
|
|
|
Equity holders of the Company
|
|
|
782,886,659
|
|
|
|
9,127,930,870
|
|
|
Non-controlling interests
|
|
|
49,075,246
|
|
|
|
2,083,730,064
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per shares (based on the net profit attributable to equity holders of the Company)
(expressed in RMB per share)
|
|
|
|
|
|
|
|
|
|
– Basic earnings per share
|
|
|
(0.05
|
)
|
|
|
0.50
|
|
|
– Diluted earnings per share
|
|
|
(0.05
|
)
|
|
|
0.50
|
|
|
|
|
2021
|
|
|
2020
|
|
|
|
|
Consolidated
|
|
|
Consolidated
|
|
|
|
|
|
|
|
(Restated)
|
|
|
Other comprehensive loss, net of tax
|
|
|
(57,781,573
|
)
|
|
|
(186,724,564
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income (net of tax) attributed to equity holders of the company
|
|
|
105,796,078
|
|
|
|
7,423,184
|
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive (loss)/income (net of tax) attributed to equity holders of the company that may not be reclassified to profit or loss
|
|
|
(80,792,895
|
)
|
|
|
614,700,201
|
|
|
Including
|
|
|
|
|
|
|
|
|
|
Gains/(losses) arising from changes in fair value of other equity instrument investments
|
|
|
2,655,157
|
|
|
|
(1,190,325
|
)
|
|
Share of other comprehensive (loss)/income of investees accounted for under the equity method
|
|
|
(83,448,052
|
)
|
|
|
615,890,526
|
|
|
Other comprehensive income/(loss) (net of tax) attributed to equity holders of the company that may be reclassified to profit or loss
|
|
|
186,588,973
|
|
|
|
(607,277,017
|
)
|
|
Including:
|
|
|
|
|
|
|
|
|
|
Share of other comprehensive loss of investees accounted for under the equity method
|
|
|
(534,997
|
)
|
|
|
(790,312
|
)
|
|
Effective portion of cash flow hedges
|
|
|
722,185,298
|
|
|
|
(39,374,973
|
)
|
|
Translation differences of the financial statements of foreign operations
|
|
|
(535,061,328
|
)
|
|
|
(567,111,732
|
)
|
|
Other comprehensive loss, net of tax, attributable to non- controlling interests
|
|
|
(163,577,651
|
)
|
|
|
(194,147,748
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive income
|
|
|
774,180,332
|
|
|
|
11,024,936,370
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributable to:
|
|
|
|
|
|
|
|
|
|
Equity holders of the Company
|
|
|
888,682,737
|
|
|
|
9,135,354,054
|
|
|
Non-controlling interests
|
|
|
(114,502,405
|
)
|
|
|
1,889,582,316
|
|
|
Legal representative
|
Person in charge of
accounting function
|
Person in charge of
accounting department
|
|
Zhao Keyu
|
Huang Lixin
|
Wei Zhongqian
|
HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED STATEMENT
OF CASH FLOWS (PRC GAAP)
FOR THE NINE MONTHS ENDED 30 SEPTEMBER
2021
Amounts: In RMB Yuan, Except as noted
|
|
|
For the nine months
ended 30 September
|
|
|
|
|
2021
|
|
|
2020
|
|
|
|
|
Consolidated
|
|
|
Consolidated
|
|
|
|
|
|
|
|
(Restated)
|
|
|
Cash flows generated from operating activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash received from sales of goods and services rendered
|
|
|
162,200,420,031
|
|
|
|
129,894,707,209
|
|
|
Cash received from return of taxes and fees
|
|
|
240,397,028
|
|
|
|
162,806,198
|
|
|
Other cash received relating to operating activities
|
|
|
569,851,085
|
|
|
|
538,798,695
|
|
|
|
|
|
|
|
|
|
|
|
|
Sub-total of cash inflows of operating activities
|
|
|
163,010,668,144
|
|
|
|
130,596,312,102
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash paid for goods and services received
|
|
|
120,736,619,559
|
|
|
|
83,910,144,164
|
|
|
Cash paid to and on behalf of employees including salary, social welfare, education funds and others in such manner
|
|
|
10,284,922,856
|
|
|
|
8,854,227,538
|
|
|
Payments of taxes
|
|
|
8,349,146,821
|
|
|
|
9,197,203,366
|
|
|
Other cash paid relating to operating activities
|
|
|
845,532,629
|
|
|
|
1,367,086,952
|
|
|
|
|
|
|
|
|
|
|
|
|
Sub-total of cash outflows of operating activities
|
|
|
140,216,221,865
|
|
|
|
103,328,662,020
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows generated from operating activities
|
|
|
22,794,446,279
|
|
|
|
27,267,650,082
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows generated from investing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from disposal of investments
|
|
|
224,183,928
|
|
|
|
–
|
|
|
Cash received on investment income
|
|
|
588,416,898
|
|
|
|
147,859,869
|
|
|
Proceeds from disposal of property, plant and equipment, land use rights and other non-current assets
|
|
|
282,934,796
|
|
|
|
256,782,184
|
|
|
Other cash received relating to investing activities
|
|
|
–
|
|
|
|
457,727,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Sub-total of cash inflows of investing activities
|
|
|
1,095,535,622
|
|
|
|
862,369,053
|
|
|
|
|
|
|
|
|
|
|
|
|
Payment for the purchase of property, plant and equipment, land use rights and other non-current assets
|
|
|
27,473,023,619
|
|
|
|
26,336,134,964
|
|
|
Cash paid for investments
|
|
|
686,512,477
|
|
|
|
448,296,863
|
|
|
Net cash paid for acquiring subsidiaries
|
|
|
–
|
|
|
|
214,131,100
|
|
|
Other cash paid relating to investing activities
|
|
|
37,621,660
|
|
|
|
–
|
|
|
|
|
|
|
|
|
|
|
|
|
Sub-total of cash outflows of investing activities
|
|
|
28,197,157,756
|
|
|
|
26,998,562,927
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows used in investing activities
|
|
|
(27,101,622,134
|
)
|
|
|
(26,136,193,874
|
)
|
Amounts: In RMB Yuan, Except as noted
|
|
|
For the nine months ended
30 September
|
|
|
|
|
2021
|
|
|
2020
|
|
|
|
|
Consolidated
|
|
|
Consolidated
|
|
|
|
|
|
|
|
(Restated)
|
|
|
Cash flows generated from financing activities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash received from investments
|
|
|
1,156,758,922
|
|
|
|
23,410,426,166
|
|
|
Including: cash received from non-controlling interests of subsidiaries
|
|
|
1,156,758,922
|
|
|
|
556,131,807
|
|
|
Cash received from borrowings
|
|
|
127,185,898,516
|
|
|
|
117,441,928,609
|
|
|
Cash received from issuance of bonds
|
|
|
41,800,000,000
|
|
|
|
12,188,307,452
|
|
|
Other cash received relating to financing activities
|
|
|
57,236,051
|
|
|
|
322,391,654
|
|
|
|
|
|
|
|
|
|
|
|
|
Sub-total of cash inflows of financing activities
|
|
|
170,199,893,489
|
|
|
|
153,363,053,881
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayments of borrowings
|
|
|
151,819,627,810
|
|
|
|
140,673,569,958
|
|
|
Payments for dividends, profit or interest expense
|
|
|
11,744,666,208
|
|
|
|
11,606,112,409
|
|
|
Including: dividends paid to non-controlling interests of subsidiaries
|
|
|
175,704,303
|
|
|
|
773,249,296
|
|
|
Other cash paid relating to financing activities
|
|
|
1,194,121,169
|
|
|
|
1,000,116,315
|
|
|
|
|
|
|
|
|
|
|
|
|
Sub-total of cash outflows of financing activities
|
|
|
164,758,415,187
|
|
|
|
153,279,798,682
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows generated from financing activities
|
|
|
5,441,478,302
|
|
|
|
83,255,199
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of foreign exchange rate changes, net
|
|
|
(491,171,940
|
)
|
|
|
(376,076,636
|
)
|
|
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents
|
|
|
643,130,507
|
|
|
|
838,634,771
|
|
|
Add: cash and cash equivalents at beginning of period
|
|
|
13,257,892,557
|
|
|
|
12,494,972,947
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
|
13,901,023,064
|
|
|
|
13,333,607,718
|
|
|
Legal representative
|
Person in charge of
accounting function
|
Person in charge of
accounting department
|
|
Zhao Keyu
|
Huang Lixin
|
Wei Zhongqian
|
By Order of the Board
Huaneng Power International, Inc.
Zhao Keyu
Chairman
As at the date of this announcement, the Directors
of the Company are:
|
Zhao Keyu (Executive Director)
|
|
Zhao Ping (Executive Director)
|
|
Huang Jian (Non-executive Director)
|
|
Wang Kui (Non-executive Director)
|
|
Lu Fei (Non-executive Director)
|
|
Teng Yu (Non-executive Director)
|
|
Mi Dabin (Non-executive Director)
|
|
Cheng Heng (Non-executive Director)
|
|
Li Haifeng (Non-executive Director)
|
|
Lin Chong (Non-executive Director)
|
|
Xu Mengzhou (Independent Non-executive Director)
|
|
Liu Jizhen (Independent Non-executive Director)
|
|
Xu Haifeng (Independent Non-executive Director)
|
|
Zhang Xianzhi (Independent Non-executive Director)
|
|
Xia Qing (Independent Non-executive Director)
|
Beijing, the PRC
27 October 2021
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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HUANENG POWER INTERNATIONAL, INC.
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By:
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/s/ Huang Chaoquan
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Name:
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Huang Chaoquan
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Title:
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Company
Secretary
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Date: October 28, 2021
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