omniture

Net Profit Attributable to the Company's Shareholders for 2013 First Three Quarters Increased by 119.01% YOY

BEIJING, October 22, 2013 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI" or the "Company") (NYSE:HNP; HKEx:902; SSE:600011) today announced its unaudited results for the nine months ended September 30, 2013.

Under the PRC GAAP, the Company realized consolidated operating revenue of RMB 99.238 billion for the first three quarters of 2013, representing a decrease of 0.88% over the same period last year. Consolidated net profit attributable to the shareholders of the Company was RMB 9.187 billion, representing an increase of 119.01% over the same period last year. The increase of Company's net profit was mainly attributable to the drop in fuel cost over the same period last year and effective control of other costs and fees.

Encl: The unaudited summary financial information of the Company for the nine months ended September 30, 2013. The summary financial information is published under the listing regulations of the China Securities Regulatory Commission. The summary financial information was prepared in accordance with "Accounting Standards for Business Enterprises" of the People's Republic of China ("PRC GAAP"), which differs from the International Financial Reporting Standards ("IFRS") and the accounting principles generally accepted in the United States of America ("US GAAP"). No reconciliation with IFRS or US GAAP has been made in the presentation of the summary financial information.

About the Company

The Company is one of China's largest listed power producers with controlled generation capacity of 66,341 MW and equity-based generation capacity of 59,155 MW. The power plants of the Company are located in 19 provinces, municipalities and autonomous regions in China. The Company also has a wholly-owned power company in Singapore.

For enquiries, please contact:

Huaneng Power International, Inc.
Ms. MENG Jing / Ms. ZHAO Lin
Tel: (8610)-6608-6765 / 6322-6596
Fax: (8610)-6641-2321
Email: zqb@hpi.com.cn

Wonderful Sky Financial Group Limited
Ms. Olive Zhang / Ms. Erica Tao / Mr. Henry Li / Ms. Irene Gao
Tel: (852)-2851-1038
Fax: (852)-2865-1638
Email: olivezhang@wsfg.hk / ericatao@wsfg.hk / henryli@wsfg.hk / irenegao@wsfg.hk

HUANENG POWER INTERNATIONAL, INC.

UNAUDITED CONSOLIDATED BALANCE SHEETS
(PRC GAAP)

AS AT 30 SEPTEMBER, 2013

(Amounts expressed in thousands)


As at
30 September, 2013


As at
31 December, 2012


RMB

US$


RMB

ASSETS










CURRENT ASSETS










Cash

10,387,169

1,689,520


10,624,497

Held for trading financial assets

-

-


93,753

Derivative financial assets

41,456

6,743


55,268

Notes receivable

689,328

112,122


357,590

Accounts receivable

12,477,691

2,029,553


14,942,374

Advances to suppliers

791,192

128,691


1,010,888

Interest receivables

25

4


65

Dividends receivable

415,026

67,506


50,000

Other receivables

900,153

146,414


939,847

Inventories

6,112,856

994,284


7,022,384

Current portion of non-current assets

14,271

2,321


13,745

Other current assets

35,709

5,809


34,661

Total current assets

31,864,876

5,182,967


35,145,072






NON-CURRENT ASSETS





Available-for-sale financial assets

1,712,772

278,590


1,769,435

Derivative financial assets

6,478

1,054


13,723

Long-term receivables

713,446

116,045


823,941

Long-term equity investment

17,529,232

2,851,209


15,653,316

Fixed assets

158,243,376

25,739,001


159,363,081

Fixed assets pending for disposal

31,105

5,059


93,245

Construction-in-progress

19,221,270

3,126,427


17,947,373

Construction materials

2,283,710

371,456


708,874

Intangible assets

10,171,010

1,654,361


10,362,011

Goodwill

12,748,664

2,073,628


13,839,913

Long-term deferred expenses

151,149

24,585


158,096

Deferred income tax assets

676,022

109,958


672,840

Other non-current assets

315,015

51,237


310,949

Total non-current assets

223,803,249

36,402,610


221,716,797

TOTAL ASSETS

255,668,125

41,585,577


256,861,869


LIABILITIES AND SHAREHOLDERS' EQUITY


CURRENT LIABILITIES

Short-term loans

26,438,488

4,300,340


27,442,076

Derivative financial liabilities

65,839

10,709


88,641

Notes payable

212,888

34,627


54,874

Accounts payable

9,059,421

1,473,556


7,299,387

Advances from customers

68,713

11,177


161,329

Salary and welfare payables

271,595

44,176


217,967

Taxes payable

917,222

149,190


(207,186)

Interest payables

1,122,845

182,636


897,839

Dividends payable

319,174

51,915


70,839

Other payables

9,965,629

1,620,955


10,246,266

Current portion of non-current liabilities

11,207,970

1,823,027


9,056,703

Provision

176,527

28,713


157,263

Other current liabilities

25,928,456

4,217,380


35,796,676

Total current liabilities

85,754,767

13,948,401


91,282,674






NON-CURRENT LIABILITIES





Long-term loans

67,598,861

10,995,260


72,564,824

Derivative financial liabilities

428,700

69,730


837,005

Bonds payable

25,400,718

4,131,542


22,884,688

Long-term payables

171,367

27,874


255,889

Specific accounts payable

65,613

10,672


50,865

Deferred income tax liabilities

1,748,848

284,458


1,776,203

Other non-current liabilities

2,268,117

368,919


2,291,481

Total non-current liabilities

97,682,224

15,888,455


100,660,955

TOTAL LIABILITIES

183,436,991

29,836,856


191,943,629






SHAREHOLDERS' EQUITY





Share capital

14,055,383

2,286,172


14,055,383

Less: Treasury Stock

-

-


-

Capital surplus

16,628,355

2,704,677


17,034,532

Special reserves

61,721

10,039


37,496

Surplus reserves

7,131,700

1,160,003


7,131,700

Undistributed profits

23,346,542

3,797,421


17,357,616

Currency translation differences

(609,808)

(99,188)


(35,937)

Shareholder's equity attributable to shareholders of the Company

60,613,893

9,859,124


55,580,790

Non-controlling interests

11,617,241

1,889,597


9,337,450

Total shareholders' equity

72,231,134

11,748,721


64,918,240

TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY

255,668,125

41,585,577


256,861,869






For the convenience of the reader, translation of amounts from Renminbi (Rmb) into United States dollars (US$) has been made at the rate of US$1.00=Rmb6.1480 announced by the People's Bank of China on 30 September, 2013. No representation is made that Renminbi amounts could have been, or could be, converted into United States dollars at that rate as of 30 September, 2013, or at any other certain rate.

HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED INCOME STATEMENTS
(PRC GAAP)

FOR THE NINE MONTHS ENDED 30 SEPTEMBER, 2013

(Amounts expressed in thousands, except per share data)


For the nine months ended 30 September


2013


2012


RMB

US$


RMB

1. Operating revenue

99,237,917

16,141,496


100,116,967

Less: Operating cost

75,385,540

12,261,799


84,505,228

Tax and levies on operations

808,990

131,586


475,892

Selling expenses

7,788

1,267


4,551

General and administrative expenses

2,386,932

388,245


2,153,679

Financial expenses

5,666,363

921,660


6,743,495

Assets impairment loss (reversal)

647,805

105,368


60,726

Add: Income (loss) on fair value changes
of financial assets/liabilities

(967)

(157)


(5,841)

Investment income

697,057

113,379


655,434

Including: Investment income from
associates and jointly
controlled entities

477,577

77,680


469,503

2. Operating profit

15,030,589

2,444,793


6,822,989

Add: Non-operating income

316,289

51,446


337,125

Less:Non-operating expenses

354,700

57,693


147,555

Including: Loss on disposals of
non-current assets

227,998

37,085


74,392

3. Profit before taxation

14,992,178

2,438,546


7,012,559

Less: Income tax expense

3,842,504

625,001


2,016,707

4. Net profit

11,149,674

1,813,545


4,995,852

Attributable to:





Shareholders of the Company

9,186,674

1,494,254


4,194,570

Non-controlling interests

1,963,000

319,291


801,282

5. Earnings per share (based on the net profit attributable to shareholders of the Company)
(expressed in RMB per share)





- Basic earnings per share

0.65

0.106


0.30

- Diluted earnings per share

0.65

0.106


0.30

6. Other comprehensive income (loss)

(345,098)

(56,132)


455,590

7. Total comprehensive income

10,804,576

1,757,413


5,451,442

Attributable to:





Shareholders of the Company

8,842,291

1,438,239


4,648,849

Non-controlling interests

1,962,285

319,174


802,593






For the convenience of the reader, translation of amounts from Renminbi (Rmb) into United States dollars (US$) has been made at the rate of US$1.00=Rmb6.1480 announced by the People's Bank of China on 30 September, 2013. No representation is made that Renminbi amounts could have been, or could be, converted into United States dollars at that rate as of 30 September, 2013, or at any other certain rate.

Source: Huaneng Power International, Inc.
Keywords: Oil/Energy
collection