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).

 

- 1 -

 

 

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.

 

- 2 -

 

 

(2)Non-recurring items and amounts

 

(Amounts: In RMB Yuan)

 

Items

 

Total amount

from the
beginning of
the year to the
end of current

reporting period
(January to

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    

 

- 3 -

 

 

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.

 

- 4 -

 

 

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.

 

- 5 -

 

 

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.

 

- 6 -

 

 

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   – 

 

- 7 -

 

 

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)   – 

 

- 8 -

 

 

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 

 

- 9 -

 

 

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 

 

- 10 -

 

 

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

 

- 11 -

 

 

 

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 

 

- 12 -

 

 

   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

 

- 13 -

 

 

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)

 

- 14 -

 

 

   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

 

- 15 -

 

 

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 

 

- 16 -

 

 

 

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.

 

- 18 -

 

 

  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

- 19 -

 

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