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 April 2022
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:
An announcement regarding 2022 first quarterly report of Huaneng Power International, Inc.(the "Registrant"), made by the Registrant on April 27, 2022.
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.
| HUANENG POWER INTERNATIONAL, INC. | ||
| By: | /s/ Huang Chaoquan | |
| Name: | Huang Chaoquan | |
| Title: | Company Secretary | |
| Date: April 28, 2022 | ||
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.
FIRST QUARTERLY REPORT OF 2022
Pursuant to the regulations of Shanghai Stock Exchange, the Company is required to publish a quarterly report for each of the first and third quarters.
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). |
IMPORTANT NOTICE
| (1) | The board of directors and the supervisory committee of Huaneng Power International, Inc. (the “Company”, “Huaneng 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. |
| (2) | All financial information set out in this quarterly report is unaudited and prepared in accordance with the PRC GAAP. |
| (3) | The 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. |
| (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). |
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| I. | MAJOR FINANCIAL DATA |
(1) Major accounting data and financial information PRC GAAP (unaudited) indices
(Amounts: In RMB Yuan)
| Items | From the beginning of the year to the end of current reporting period (January to March) | From the beginning of the preceding year to the end of the equivalent period (January to March) | Variance
from equivalent period of last year (%) | |||||||||||||
| (Before restated) | (Restated) | (Restated) | ||||||||||||||
| Operating Revenue | 65,250,379,565 | 49,909,188,093 | 49,983,683,771 | 30.54 | ||||||||||||
| Net (loss)/profit attributable to equity holders of the Company | (956,338,198 | ) | 3,126,672,348 | 3,192,127,961 | (129.96 | ) | ||||||||||
| Net (loss)/profit after deducting non-recurring items attributable to equity holders of the Company | (1,414,681,601 | ) | 2,863,647,779 | 2,929,103,392 | (148.30 | ) | ||||||||||
| Net cash flows generated from operating activities | 8,403,935,233 | 11,330,462,982 | 11,385,310,326 | (26.19 | ) | |||||||||||
| Basic (losses)/earnings per share (RMB per share) | (0.09 | ) | 0.17 | 0.17 | (152.94 | ) | ||||||||||
| Diluted (losses)/earnings per share (RMB per share) | (0.09 | ) | 0.17 | 0.17 | (152.94 | ) | ||||||||||
| Return on net assets (weighted average) (%) | (2.62 | ) | 3.47 | 3.54 | Decreased by 6.16 percentage points | |||||||||||
| End of current reporting period | End of last year | Variance from end of last year (%) | ||||||||||||||
| (Before restated) | (Restated) | (Restated) | ||||||||||||||
| Total Assets | 488,810,999,006 | 490,068,485,832 | 490,352,918,655 | (0.31 | ) | |||||||||||
| Equity attributable to equity holders of the Company | 104,694,425,640 | 105,255,590,372 | 105,535,475,868 | (0.80 | ) | |||||||||||
Explanation of reasons for retrospective adjustment or restatement
According to the Notice by the Ministry of Finance of Issuing the Interpretation No. 15 of the Accounting Standards for Business Enterprises (Cai Kuai [2021] NO. 35), proceeds generated during the commissioning period was restated for the corresponding quarter of last year.
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| (2) | Non-recurring items and amounts |
(Amounts: In RMB Yuan)
Items | Total amount from the reporting period March) | Notes | |||
| Gains from disposal of non-current assets | 19,095,883 | Mainly generated from disposal of machinery and equipments. | |||
| Government grant recorded in income statement, excluding government grant closely related to the Company’s business and calculated according to national unified standards | 500,641,998 | Mainly included refund on property tax and heating subsidies, etc. | |||
| Reversal of impairment loss on receivables and contract assets tested individually for impairment | 633,112 | ||||
| Profits and losses from entrusted loans | 769,458 | ||||
| Other non-operating income and expenses excluding the above items | 34,248,933 | Other non-operating income other than the items mentioned above was mainly income from donations accepted by the Company’s subsidiaries, the non-operating expenses were mainly loss of material scrap, donations. | |||
| Other non-recurring items | (13,909,434 | ) | Mainly included fees collected from entrusted management activities and income generated from conducting trusteeship management. | ||
| Less: Income tax impact | 9,585,771 | ||||
| Impact of non-controlling interests, net of tax | 73,550,776 | ||||
| Total | 458,343,403 |
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Explanation of defining non-recurring profit and loss items listed in explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public Extraordinary Profit and Loss as recurring profit and loss items
| þ Applicable | ¨ Not applicable |
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 (CSRC announcement [2008] No. 43). The value-added tax levied immediately returned was recognised as recurring profit, as it is closely related to the normal business.
| (3) | Disclosure as to, and reasons for, material changes in accounting data and financial indices |
| þ Applicable | ¨ Not applicable |
Item | Fluctuation (%) | Reasons | ||||
| Items of Major Accounting Data and Financial Indices | ||||||
| Operating revenue | 30.54 | mainly due to the year-on-year increase in domestic electricity sales and heat supply, as well as the year-on-year increase in the average electricity price. | ||||
| Net profit attributable to equity holders of the Company | -129.96 | due to the decrease in the profit of domestic power business operations affected by the rising coal price. | ||||
| Net (loss)/profit after deducting non-recurring items attributable to equity holders of the Company | -148.30 | mainly due to the profit reduction of domestic power business operations affected by the rising coal price. | ||||
| Basic earnings per share | -152.94 | mainly resulted from the decrease in operating profit of the domestic power business due to the rising coal price, and the net profit attributable to the parent company decreased year-on-year. | ||||
| Diluted earnings per share | -152.94 | mainly resulted from the decrease in operating profit of the domestic power business due to the rising coal price, and the net profit attributable to the parent decreased year-on-year. | ||||
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Item | Fluctuation (%) | Reasons | ||||
| Items of Consolidated Statement of Financial Position: | ||||||
| Derivative financial assets | 93.75 | mainly due to the increase of the HSFO price, resulting in an increase in the fair value of fuel swap contracts held by the Company’s subsidiary, SinoSing Power. | ||||
| Notes receivable | 9.18 | mainly due to the increase of bill settlement proportion of some regional power grid companies. | ||||
| Accounts receivable | 9.22 | mainly due to the increase of power revenue and receivables in relation to renewable energy subsidies. | ||||
| Advances to suppliers | 18.71 | mainly due to the increase in prepayments of fuel of some coal fired power plants. | ||||
| Inventories | -48.42 | in comparison to those in fourth quarter of 2021 mainly because heat supply season has ended, causing coal storage decreased and coal price reduced. | ||||
| Other current assets | -9.58 | because coal price dropped, the deductable VAT on purchase decreased accordingly. | ||||
| Long-term equity investments | 1.72 | mainly due to the combined effects of investment income RMB378 million and other changes in equity. | ||||
| Fixed assets | 1.21 | mainly due to the combined effects of the fact that Construction-in-progress was completed and transferred into fixed assets and the depreciation of fixed assets. | ||||
| Construction-in-progress | -6.60 | mainly due to the fact that the scale of infrastructure construction transferred into fixed assets and new investments. | ||||
| Contract liabilities | -79.99 | mainly due to the reduction on pre- collected heating fees since the end of the heating season. | ||||
| Current portion of non-current liabilities | -4.18 | resulting from decrease in current portion of long-term borrowings. | ||||
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Item | Fluctuation (%) | Reasons | ||||
| Other current liabilities | -66.04 | mainly because of the decrease in short-term bonds. | ||||
| Other comprehensive income | 48.83 | mainly due to the combined effects of the increase in the fair value of the fuel swap contracts of SinoSing Power and foreign currency translation. | ||||
| Items of Consolidated Statement of Comprehensive Income: | ||||||
| Operating cost | 51.07 | mainly due to the year-on-year increase in fuel costs which was caused by the increase in coal purchase price. | ||||
| Tax and surcharge | -31.89 | mainly due to the high fuel costs, the actual payment of value-added tax, urban construction tax, education surcharge and local education surcharge decreased year on year. | ||||
| Research and development expenses | 109.59 | mainly due to the company's further increase in R&D investment around its main business. | ||||
| Gain on disposal of assets | -95.63 | mainly due to the absence of large asset disposal activities compared with the previous period. | ||||
| Items of Consolidated Statement of Cash Flows: | ||||||
| Net cash flows generated from operating activities | -26.19 | mainly due to the year-on-year increase of fuel cost which resulted in the decrease of the net inflow from operating activities. | ||||
| Net cash flows generated from/ (used in) financing activities | 185.37 | mainly due to the year-on-year increase of net financing amount. | ||||
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| II. | SHAREHOLDER INFORMATION |
| (1) | Total number of shareholders of ordinary shares and shareholders of preference shares with restored voting rights and shareholdings of the top ten shareholders |
Unit: share
| Total number of ordinary shareholders at the end of the reporting period | 125,055 | Total number of preference shareholders whose voting rights have been restored at the end of the reporting period (if any) | – | ||||||||||||||
| Shareholdings of the top ten shareholders | |||||||||||||||||
| Percentage of | Number of shares held | Shares pledged, marked or frozen | |||||||||||||||
| Name of shareholders | Nature of shareholders | Number of shares held | shareholding (%) | 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 | 4,126,188,182 | 26.28 | – | 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 | 493,316,146 | 3.14 | – | 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 | 309,774,700 | 1.97 | – | Nil | – | |||||||||||
| Liaoning Energy Investment (Group) Limited Liability Company | State-owned entity | 244,205,000 | 1.56 | – | Nil | – | |||||||||||
| Dalian City Investment Holding Group Co., Ltd. | State-owned entity | 231,650,000 | 1.48 | – | Charges | 107,064,500 | |||||||||||
| Industrial Bank Co., Ltd. – Xingquan Trend Investment Hybrid Securities Investment Fund | Other | 166,051,848 | 1.06 | – | Nil | – | |||||||||||
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Shareholdings of the top ten shareholders whose shares are not subject to selling restrictions
| Number of shares in circulation without any selling restrictions as at the end of the | Type and number of shares | |||||||||
| Name of shareholders | reporting period | Type | Number | |||||||
| Huaneng International Power Development Corporation | 5,066,662,118 | RMB denominated ordinary shares | 5,066,662,118 | |||||||
| HKSCC Nominees Limited | 4,126,188,182 | Overseas listed foreign invested shares | 4,126,188,182 | |||||||
| China Huaneng Group Co., Ltd. | 1,555,124,549 | RMB denominated ordinary shares | 1,555,124,549 | |||||||
| Hebei Construction & Investment Group Co., Ltd. | 493,316,146 | RMB denominated ordinary shares | 493,316,146 | |||||||
| 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 | 309,774,700 | RMB denominated ordinary shares | 309,774,700 | |||||||
| Liaoning Energy Investment (Group) Limited Liability Company | 244,205,000 | RMB denominated ordinary shares | 244,205,000 | |||||||
| Dalian City Investment Holding Group Co., Ltd. | 231,650,000 | RMB denominated ordinary shares | 231,650,000 | |||||||
| Industrial Bank Co., Ltd. – Xingquan Trend Investment Hybrid Securities Investment Fund | 166,051,848 | RMB denominated ordinary shares | 166,051,848 | |||||||
| 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) | – | |||||||||
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| III. | OTHER REMINDERS |
Other important information about the operation of the Company during the reporting period that needs to be reminded of investors
| ¨ Applicable | þ Not applicable |
| IV. | QUARTERLY FINANCIAL STATEMENTS |
| (1) | Type of Audit Opinion |
| ¨ Applicable | þ Not applicable |
| (2) | Financial Statements |
HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (PRC GAAP)
AS AT 31 MARCH 2022
Amounts: In RMB Yuan, Except as noted
| ASSETS | 31 March 2022 | 31 December 2021 | ||||||
| Consolidated | Consolidated | |||||||
| (Restated) | ||||||||
| CURRENT ASSETS | ||||||||
| Bank balances and cash | 16,957,346,373 | 16,350,332,130 | ||||||
| Derivative financial assets | 1,264,155,095 | 652,458,025 | ||||||
| Notes receivable | 4,087,051,186 | 3,743,482,439 | ||||||
| Accounts receivable | 43,533,169,917 | 39,856,733,939 | ||||||
| Accounts receivable financing | – | 277,781,094 | ||||||
| Advances to suppliers | 5,266,421,860 | 4,436,263,536 | ||||||
| Other receivables | 3,738,063,039 | 3,527,482,093 | ||||||
| Inventories | 8,678,012,102 | 16,824,431,439 | ||||||
| Contract assets | 57,749,291 | 66,973,934 | ||||||
| Current portion of non-current assets | 562,594,376 | 550,606,561 | ||||||
| Other current assets | 5,592,286,516 | 6,184,579,414 | ||||||
| Total current assets | 89,736,849,755 | 92,471,124,604 | ||||||
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| ASSETS (CONTINUED) | 31 March 2022 | 31 December 2021 | ||||||
| Consolidated | Consolidated | |||||||
| (Restated) | ||||||||
| NON-CURRENT ASSETS | ||||||||
| Derivative financial assets | 54,256,477 | 69,753,069 | ||||||
| Long-term receivables | 9,139,652,502 | 9,261,917,550 | ||||||
| Long-term equity investments | 23,297,104,268 | 22,903,969,556 | ||||||
| Other equity instrument investments | 722,205,073 | 729,070,008 | ||||||
| Investment properties | 629,319,972 | 635,268,452 | ||||||
| Fixed assets | 269,624,596,407 | 266,396,729,235 | ||||||
| Construction-in-progress | 46,817,334,143 | 50,125,125,416 | ||||||
| Right-of-use assets | 7,783,060,022 | 7,988,306,698 | ||||||
| Intangible assets | 14,186,356,725 | 14,188,940,973 | ||||||
| Goodwill | 11,198,210,901 | 11,234,942,930 | ||||||
| Long-term deferred expenses | 263,745,095 | 267,989,426 | ||||||
| Deferred income tax assets | 5,658,131,486 | 5,503,846,957 | ||||||
| Other non-current assets | 9,700,176,180 | 8,575,933,781 | ||||||
| Total non-current assets | 399,074,149,251 | 397,881,794,051 | ||||||
| TOTAL ASSETS | 488,810,999,006 | 490,352,918,655 | ||||||
| LIABILITIES AND EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
| Short-term loans | 88,700,427,007 | 91,896,724,789 | ||||||
| Derivative financial liabilities | 42,979,430 | 41,033,947 | ||||||
| Notes payable | 2,889,478,585 | 3,150,276,709 | ||||||
| Accounts payable | 21,977,084,113 | 22,623,961,502 | ||||||
| Contract liabilities | 655,254,690 | 3,274,769,864 | ||||||
| Salary and welfare payables | 1,045,055,189 | 1,020,063,505 | ||||||
| Taxes payable | 1,213,690,647 | 2,053,418,012 | ||||||
| Other payables | 27,003,169,998 | 28,188,233,094 | ||||||
| Current portion of non-current liabilities | 24,203,315,060 | 25,258,832,021 | ||||||
| Other current liabilities | 3,019,134,178 | 8,890,987,394 | ||||||
| Total current liabilities | 170,749,588,897 | 186,398,300,837 | ||||||
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| LIABILITIES AND EQUITY (CONTINUED) | 31 March 2022 | 31 December 2021 | ||||||
| Consolidated | Consolidated | |||||||
| (Restated) | ||||||||
| NON-CURRENT LIABILITIES | ||||||||
| Long-term loans | 147,321,991,730 | 136,857,716,583 | ||||||
| Derivative financial liabilities | 77,143,058 | 99,323,322 | ||||||
| Bonds payable | 33,898,345,044 | 29,396,919,284 | ||||||
| Lease liabilities | 5,705,288,988 | 5,793,406,727 | ||||||
| Long-term payables | 1,353,489,901 | 1,170,649,122 | ||||||
| Long-term employee benefits payable | 45,180,425 | 44,237,063 | ||||||
| Provision | 33,185,264 | 33,839,001 | ||||||
| Deferred income | 2,391,348,996 | 2,586,661,586 | ||||||
| Deferred income tax liabilities | 1,045,554,225 | 900,884,705 | ||||||
| Other non-current liabilities | 2,819,443,212 | 2,894,542,849 | ||||||
| Total non-current liabilities | 194,690,970,843 | 179,778,180,242 | ||||||
| TOTAL LIABILITIES | 365,440,559,740 | 366,176,481,079 | ||||||
| EQUITY | ||||||||
| Share capital | 15,698,093,359 | 15,698,093,359 | ||||||
| Other equity instruments | 48,660,023,535 | 48,417,976,965 | ||||||
| Capital surplus | 17,657,439,809 | 17,642,892,463 | ||||||
| Other comprehensive income | (397,061,474 | ) | (775,923,804 | ) | ||||
| Special reserves | 73,554,707 | 72,809,895 | ||||||
| Surplus reserves | 8,186,274,738 | 8,186,274,738 | ||||||
| Undistributed profits | 14,816,100,966 | 16,293,352,252 | ||||||
| Equity attributable to equity holders of the Company | 104,694,425,640 | 105,535,475,868 | ||||||
| Non-controlling interests | 18,676,013,626 | 18,640,961,708 | ||||||
| Total equity | 123,370,439,266 | 124,176,437,576 | ||||||
| TOTAL LIABILITIES AND EQUITY | 488,810,999,006 | 490,352,918,655 | ||||||
| Legal representative: | Person in charge of accounting function: |
Person in charge of accounting department: |
| Zhao Keyu | Huang Lixin | Wei Zhongqian |
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HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (PRC GAAP)
FOR THE THREE MONTHS ENDED 31 MARCH 2022
Amounts: In RMB Yuan, Except as noted
| For the three months ended 31 March | ||||||
| 2022 | 2021 | |||||
| Consolidated | Consolidated | |||||
| (Restated) | ||||||
| Operating revenue | 65,250,379,565 | 49,983,683,771 | ||||
| Less: Operating cost | 62,865,124,837 | 41,613,525,300 | ||||
| Tax and surcharge | 353,178,786 | 518,554,968 | ||||
| Selling expenses | 50,671,489 | 39,068,711 | ||||
| General and administrative expenses | 1,243,203,719 | 1,325,529,448 | ||||
| Research and development expenses | 76,882,464 | 36,683,084 | ||||
| Financial expenses | 2,536,077,949 | 2,200,593,812 | ||||
| Add: Other income | 518,721,376 | 192,150,572 | ||||
| Investment income | 378,702,646 | 357,335,226 | ||||
| Including: Investment income from associates and joint ventures | 377,814,750 | 358,870,478 | ||||
| Reversal of credit loss | 1,472,804 | 374,834 | ||||
| Reversal of asset impairment | – | 615,203 | ||||
| Gain on disposal of assets | 7,623,990 | 174,427,600 | ||||
| Operating (loss)/profit | (968,238,863 | ) | 4,974,631,883 | |||
| Add: Non-operating income | 72,397,885 | 48,521,337 | ||||
| Less: Non-operating expenses | 24,038,542 | 26,778,736 | ||||
| (Loss)/profit before tax | (919,879,520 | ) | 4,996,374,484 | |||
| Less: Income tax expense | 192,050,769 | 900,015,173 | ||||
| Net (loss)/profit | (1,111,930,289 | ) | 4,096,359,311 | |||
| (1) Classification according to the continuity of operation Continuous operating net (loss)/profit | (1,111,930,289 | ) | 4,096,359,311 | |||
| (2) Classification according to ownership | ||||||
| Attributable to: | ||||||
| Equity holders of the Company | (956,338,198 | ) | 3,192,127,961 | |||
| Non-controlling interests | (155,592,091 | ) | 904,231,350 | |||
| (Losses)/earnings per shares (based on the net (loss)/profit attributable to equity holders of the Company) | ||||||
| (expressed in RMB per share) | ||||||
| – Basic (losses)/earnings per share | (0.09 | ) | 0.17 | |||
| – Diluted (losses)/earnings per share | (0.09 | ) | 0.17 | |||
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| For the three months ended 31 March | ||||||||
| 2022 | 2021 | |||||||
| Consolidated | Consolidated | |||||||
| (Restated) | ||||||||
| Other comprehensive income, net of tax | 288,830,657 | 372,915,824 | ||||||
| Other comprehensive income (net of tax) attributed to equity holders of the Company | 378,862,330 | 239,509,771 | ||||||
| Other comprehensive loss (net of tax) attributed to equity holders of the Company that may not be reclassified to profit or loss | (4,777,190 | ) | (21,785,812 | ) | ||||
| Including | ||||||||
| Share of other comprehensive loss of the equity-accounted investee that may not be reclassified to profit or loss | (184,721 | ) | (22,308,790 | ) | ||||
| (Losses)/gains arising from changes in fair value of other equity instrument investments | (4,592,469 | ) | 522,978 | |||||
| Other comprehensive income (net of tax) attributed to equity holders of the Company that may be reclassified to profit or loss | 383,639,520 | 261,295,583 | ||||||
| Including | ||||||||
| Share of other comprehensive income /(loss) of investees accounted for under the equity method | (9,196,765 | ) | 161,081 | |||||
| Effective portion of cash flow hedges | 524,842,295 | 318,976,934 | ||||||
| Translation differences of the financial statements of foreign operations | (132,006,010 | ) | (57,842,432 | ) | ||||
| Other comprehensive (loss)/income, net of tax, attributable to non-controlling interests | (90,031,673 | ) | 133,406,053 | |||||
| Total comprehensive (loss)/income | (823,099,632 | ) | 4,469,275,135 | |||||
| Attributable to: | ||||||||
| Equity holders of the Company | (577,475,868 | ) | 3,431,637,732 | |||||
| Non-controlling interests | (245,623,764 | ) | 1,037,637,403 | |||||
|
Legal representative: |
Person in charge of accounting function: |
Person in charge of accounting department: |
| Zhao Keyu | Huang Lixin | Wei Zhongqian |
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HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS (PRC GAAP)
FOR THE THREE MONTHS ENDED 31 MARCH 2022
Amounts: In RMB Yuan, Except as noted
| For the three months ended 31 March | ||||||||
| 2022 | 2021 | |||||||
| Consolidated | Consolidated | |||||||
| (Restated) | ||||||||
| Cash flows generated from operating activities | ||||||||
| Cash received from sales of goods and services rendered | 71,777,412,976 | 53,206,054,087 | ||||||
| Cash received from return of taxes and fees | 335,547,866 | 27,017,375 | ||||||
| Other cash received relating to operating activities | 592,272,528 | 242,449,087 | ||||||
| Sub-total of cash inflows of operating activities | 72,705,233,370 | 53,475,520,549 | ||||||
| Cash paid for goods and services received | (57,834,684,209 | ) | (34,605,112,792 | ) | ||||
| Cash paid to and on behalf of employees | (3,767,140,628 | ) | (3,877,301,967 | ) | ||||
| Payments of taxes | (2,291,746,282 | ) | (3,384,249,350 | ) | ||||
| Other cash paid relating to operating activities | (407,727,018 | ) | (223,546,114 | ) | ||||
| Sub-total of cash outflows of operating activities | (64,301,298,137 | ) | (42,090,210,223 | ) | ||||
| Net cash flows generated from operating activities | 8,403,935,233 | 11,385,310,326 | ||||||
| Cash flows generated from investing activities | ||||||||
| Proceeds from disposal of an investment | – | 223,759,636 | ||||||
| Cash received on investment income | 925,396 | 2,582,803 | ||||||
| Proceeds from disposal of fixed assets, intangible assets and other non-current assets | 35,136,124 | 202,647,939 | ||||||
| Other cash received relating to investing activities | 7,289,892 | – | ||||||
| Sub-total of cash inflows of investing activities | 43,351,412 | 428,990,378 | ||||||
| Payment for the purchase of fixed assets, intangible assets and other non-current assets | (7,962,973,757 | ) | (9,642,429,571 | ) | ||||
| Cash paid for investments | (1,063,887,122 | ) | (51,472,222 | ) | ||||
| Sub-total of cash outflows of investing activities | (9,026,860,880 | ) | (9,693,901,793 | ) | ||||
| Net cash flows used in investing activities | (8,983,509,468 | ) | (9,264,911,415 | ) | ||||
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| For the three months ended 31 March | ||||||||
| 2022 | 2021 | |||||||
| Consolidated | Consolidated | |||||||
| (Restated) | ||||||||
| Cash flows generated from financing activities | ||||||||
| Cash received from investments | 293,032,724 | 87,211,989 | ||||||
| Including: cash received from non-controlling interests of subsidiaries | 293,032,724 | 87,211,989 | ||||||
| Cash received from borrowings | 77,701,786,724 | 55,746,098,708 | ||||||
| Other cash received relating to financing activities | 5,105,584 | – | ||||||
| Sub-total of cash inflows of financing activities | 77,999,925,032 | 55,833,310,697 | ||||||
| Repayments of borrowings | (72,491,481,309 | ) | (54,391,135,672 | ) | ||||
| Payments for dividends, profit or interest expense | (3,149,414,214 | ) | (2,289,618,528 | ) | ||||
| Including: dividends paid to non-controlling interests of subsidiaries | (140,080,000 | ) | (62,920,909 | ) | ||||
| Other cash paid relating to financing activities | (709,779,673 | ) | (1,084,551,051 | ) | ||||
| Sub-total of cash outflows of financing activities | (76,350,675,196 | ) | (57,765,305,251 | ) | ||||
| Net cash flows generated from/(used in) financing activities | 1,649,249,836 | (1,931,994,554 | ) | |||||
| Effect of exchange rate fluctuations on cash held | (293,310,798 | ) | 154,440,328 | |||||
| Net increase in cash and cash equivalents | 776,364,803 | 342,844,685 | ||||||
| Add: cash and cash equivalents at beginning of period | 15,554,825,027 | 13,257,892,557 | ||||||
| Cash and cash equivalents at end of period | 16,331,189,830 | 13,600,737,242 | ||||||
|
Legal representative: |
Person in charge of accounting function: |
Person in charge of accounting department: |
| Zhao Keyu | Huang Lixin | Wei Zhongqian |
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Adjustments of financial statements at the beginning of the year in which the new accounting standards were implemented for the first time since 2022
| þ Applicable | ¨ Not applicable |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Amounts: In RMB Yuan, Except as noted
ASSETS | 31 December 2021 | 31 December 2021 |
Restatement | |||||||||
| Consolidated | Consolidated | |||||||||||
| (Restated) | ||||||||||||
| CURRENT ASSETS: | ||||||||||||
| Bank balances and cash | 16,350,332,130 | 16,350,332,130 | – | |||||||||
| Derivative financial assets | 652,458,025 | 652,458,025 | – | |||||||||
| Notes receivable | 3,743,482,439 | 3,743,482,439 | – | |||||||||
| Accounts receivable | 39,856,733,939 | 39,856,733,939 | – | |||||||||
| Accounts receivable financing | 277,781,094 | 277,781,094 | – | |||||||||
| Advances to suppliers | 4,436,263,536 | 4,436,263,536 | – | |||||||||
| Other receivables | 3,527,482,093 | 3,527,482,093 | – | |||||||||
| Inventories | 16,824,431,439 | 16,824,431,439 | – | |||||||||
| Contract assets | 66,973,934 | 66,973,934 | – | |||||||||
| Current portion of non-current assets | 550,606,561 | 550,606,561 | – | |||||||||
| Other current assets | 6,184,579,414 | 6,184,579,414 | – | |||||||||
| Total current assets | 92,471,124,604 | 92,471,124,604 | – | |||||||||
| NON-CURRENT ASSETS: | ||||||||||||
| Derivative financial assets | 69,753,069 | 69,753,069 | – | |||||||||
| Long-term receivables | 9,261,917,550 | 9,261,917,550 | – | |||||||||
| Long-term equity investments | 22,903,969,556 | 22,903,969,556 | – | |||||||||
| Other equity instrument investments | 729,070,008 | 729,070,008 | – | |||||||||
| Investment properties | 635,268,452 | 635,268,452 | – | |||||||||
| Fixed assets | 266,132,642,178 | 266,396,729,235 | 264,087,057 | |||||||||
| Construction-in-progress | 50,104,779,650 | 50,125,125,416 | 20,345,766 | |||||||||
| Right-of-use assets | 7,988,306,698 | 7,988,306,698 | – | |||||||||
| Intangible assets | 14,188,940,973 | 14,188,940,973 | – | |||||||||
| Goodwill | 11,234,942,930 | 11,234,942,930 | – | |||||||||
| Long-term deferred expenses | 267,989,426 | 267,989,426 | – | |||||||||
| Deferred income tax assets | 5,503,846,957 | 5,503,846,957 | – | |||||||||
| Other non-current assets | 8,575,933,781 | 8,575,933,781 | – | |||||||||
| Total non-current assets | 397,597,361,228 | 397,881,794,051 | 284,432,823 | |||||||||
| TOTAL ASSETS | 490,068,485,832 | 490,352,918,655 | 284,432,823 | |||||||||
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LIABILITIES AND EQUITY | 31 December 2021 | 31 December 2021 |
Restatement | |||||||||
| Consolidated | Consolidated | |||||||||||
| (Restated) | ||||||||||||
| CURRENT LIABILITIES: | ||||||||||||
| Short-term loans | 91,896,724,789 | 91,896,724,789 | – | |||||||||
| Derivative financial liabilities | 41,033,947 | 41,033,947 | – | |||||||||
| Notes payable | 3,150,276,709 | 3,150,276,709 | – | |||||||||
| Accounts payable | 22,623,961,502 | 22,623,961,502 | – | |||||||||
| Contract liabilities | 3,274,769,864 | 3,274,769,864 | – | |||||||||
| Salary and welfare payables | 1,020,063,505 | 1,020,063,505 | – | |||||||||
| Taxes payable | 2,053,418,012 | 2,053,418,012 | – | |||||||||
| Other payables | 28,188,233,094 | 28,188,233,094 | – | |||||||||
| Current portion of non-current liabilities | 25,258,832,021 | 25,258,832,021 | – | |||||||||
| Other current liabilities | 8,890,987,394 | 8,890,987,394 | – | |||||||||
| Total current liabilities | 186,398,300,837 | 186,398,300,837 | – | |||||||||
| NON-CURRENT LIABILITIES: | ||||||||||||
| Long-term loans | 136,857,716,583 | 136,857,716,583 | – | |||||||||
| Derivative financial liabilities | 99,323,322 | 99,323,322 | – | |||||||||
| Bonds payable | 29,396,919,284 | 29,396,919,284 | – | |||||||||
| Lease liabilities | 5,793,406,727 | 5,793,406,727 | – | |||||||||
| Long-term payables | 1,170,649,122 | 1,170,649,122 | – | |||||||||
| Long-term employee benefits payable | 44,237,063 | 44,237,063 | – | |||||||||
| Provision | 33,839,001 | 33,839,001 | – | |||||||||
| Deferred income | 2,586,661,586 | 2,586,661,586 | – | |||||||||
| Deferred income tax liabilities | 900,884,705 | 900,884,705 | – | |||||||||
| Other non-current liabilities | 2,894,542,849 | 2,894,542,849 | – | |||||||||
| Total non-current liabilities | 179,778,180,242 | 179,778,180,242 | – | |||||||||
| TOTAL LIABILITIES | 366,176,481,079 | 366,176,481,079 | – | |||||||||
- 17 -
LIABILITIES AND EQUITY | 31 December 2021 | 31 December 2021 |
Restatement | |||||||||
| Consolidated | Consolidated | |||||||||||
| (Restated) | ||||||||||||
| EQUITY | ||||||||||||
| Share capital | 15,698,093,359 | 15,698,093,359 | – | |||||||||
| Other equity instruments | 48,417,976,965 | 48,417,976,965 | – | |||||||||
| Capital surplus | 17,642,892,463 | 17,642,892,463 | – | |||||||||
| Other comprehensive income | (775,923,804 | ) | (775,923,804 | ) | – | |||||||
| Special reserves | 72,809,895 | 72,809,895 | – | |||||||||
| Surplus reserves | 8,186,274,738 | 8,186,274,738 | – | |||||||||
| Undistributed profits | 16,013,466,756 | 16,293,352,252 | 279,885,496 | |||||||||
| Equity attributable to equity holders of the Company | 105,255,590,372 | 105,535,475,868 | 279,885,496 | |||||||||
| Non-controlling interests | 18,636,414,381 | 18,640,961,708 | 4,547,327 | |||||||||
| Total equity | 123,892,004,753 | 124,176,437,576 | 284,432,823 | |||||||||
| TOTAL LIABILITIES AND EQUITY | 490,068,485,832 | 490,352,918,655 | 284,432,823 | |||||||||
Explanation of reasons for retrospective adjustment or restatement
| þ Applicable | ¨ Not applicable |
According to the notice by the Ministry of Finance of Issuing the Interpretation No. 15 of the Accounting Standards for Business Enterprises (Cai Kuai [2021] NO.35), for the sales and cost during the commissioning period will not be deducted from the carrying value of the relevant assets, but will be accounted for separately and included in the current profit and loss. This should be applied retrospectively to the assets on or after the beginning of the earliest period presented when the entity first applies the Notice.
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| By Order of the Board Huaneng Power International, Inc. Huang Chaoquan Company Secretary |
As of the date of the announcement, the directors of the Company are:
| Zhao Keyu (Executive Director) | Xu Mengzhou (Independent Non-executive Director) |
| Zhao Ping (Executive Director) | Liu Jizhen (Independent Non-executive Director) |
| Huang Jian (Non-executive Director) | Xu Haifeng (Independent Non-executive Director) |
| Wang Kui (Non-executive Director) | Zhang Xianzhi (Independent Non-executive Director) |
| Lu Fei (Non-executive Director) | Xia Qing (Independent 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) |
Beijing, the PRC
27 April 2022
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