FIRST QUARTERLY REPORT OF 2010
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.
DATANG INTERNATIONAL POWER GENERATION CO., LTD.
(a sino-foreign joint stock limited company incorporated in the People's
Republic of China)
(Stock Code: 991)
PRICE-SENSITIVE INFORMATION/
OVERSEAS REGULATORY ANNOUNCEMENT
FIRST QUARTERLY REPORT OF 2010
In accordance with the requirements of the China Securities Regulatory
Commission, Datang International Power Generation Co., Ltd. (the "Company") is
required to publish quarterly reports for the first and third quarters of the
year.
The financial information contained in this quarterly report is unaudited, and
was prepared in accordance with the PRC GAAP.
This announcement is made pursuant to Rules 13.09(1) and (2) of the Rules
Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
1. IMPORTANT NOTICE
1.1 The board of directors (the "Board"), the supervisory committee, the
directors, the supervisors and senior management members of the Company
warrant that there are no false representations and misleading statements
contained in, or material omissions from, this report, and severally and
jointly accept the responsibility for the truthfulness, accuracy and
completeness of the content hereof.
1.2 All directors of the Company attended the Board meeting.
1.3 The first quarterly financial report of the Company is unaudited.
1.4 Mr. Zhai Ruoyu, the person-in-charge of the Company, Mr. Wang Xianzhou,
the person-in-charge of accounting matters, and Mr. Liu Heping, the person-in-
charge of the accounting institution (head of accounting function), hereby
make representation in respect of the truthfulness and completeness of the
financial statements contained in this quarterly report.
2. BASIC INFORMATION OF THE COMPANY
2.1 Major accounting data and financial indicators
Currency: RMB
Increase/decrease
at the end of
the reporting
period as
compared to the
At the end of At the end of end of the
the reporting the previous previous year
period reporting period (%)
Total assets 194,464,655 182,064,307 6.81%
(RMB'000)
Interests of equity 29,355,073 26,073,445 12.59%
holders (or Interests
of shareholders)
(RMB'000)
Net assets per share 2.38 2.21 7.69%
attributable to
shareholders of the
Company (RMB/per
share)
Increase/decrease as
Beginning of the compared to the
year to the end of corresponding
the reporting period period of the
(Jan-Mar) previous year(%)
Net cash flows generated from 3,403,750 81.91%
operating activities (RMB'000)
Net cash flows per share 0.28 75.00%
generated from operating
activities (RMB/per share)
Increase/decrease
of the reporting
period as
Beginning of the compared to the
year to the end corresponding
The reporting of the reporting period of the
period period previous year
(Jan-Mar) (Jan-Mar) (%)
Net profit 15,536 15,536 -56.93 %
attributable
to shareholders of
the Company
(RMB'000)
Basic earnings per 0.0013 0.0013 -56.04 %
share (RMB/per
share)
Basic earnings per 0.0007 0.0007 -114.75 %
share excluding
non-recurring
profit/loss
(RMB/per share)
Diluted earnings per 0.0013 0.0013 -56.04 %
share (RMB/per
share)
Return on net assets 0.06 % 0.06 % a decrease of
(weighted average) 0.07 percentage
(%) point
Return on net assets 0.03 % 0.03 % an increase of
excluding 0.28 percentage
non-recurring point
profit/loss (weighted
average) (%)
Excluding non-recurring profit/loss items and amounts:
Amount
(RMB'000)
Non-recurring profit/loss items Explanation
Government's grants accounted for 8,254 Government's grants
in the profit and loss account received or amortised for
for the reporting period (except for the reporting period
the grants that are closely
related to the Company's ordinary
course of business; and that are
continuously enjoyed in
compliance with the State's
policies and regulations in an
amount or quantity specified by
certain standards)
Profit/loss gained from 35 Profit gained from
liabilities restructuring liabilities restructuring
of associates
Profit/loss gained from loans 1,642 Interest income from
entrusted to external entities loans entrusted to
associates
Other non-operating income and -177 Net amount of other
expenses excluding the non-operating income and
above-mentioned items expenses
Impact of income tax -2,309 Impact of above items on
income tax expenses
Effects of minority shareholders' -596 Impact of above items on
profit/loss (after tax) minority interests
Total 6,849
2.2 Total number of shareholders as at the end of the reporting period and
table of shareholding of the top ten holders of shares free of selling
restrictions
Unit: share
Total number of shareholders at the end of the
reporting period 249,793
Shareholding of the top ten holders of circulating shares free of selling
restrictions
Number of
circulating shares
held not subject to
selling
restrictions
Name of shareholder as at the reporting
(Full name) period Type of share
China Datang Group 3,959,241,160 RMB ordinary shares
Company
HKSCC NOMINEES 3,291,549,850 Overseas-listed foreign
LIMITED shares
Hebei Construction & 1,299,872,927 RMB ordinary shares
Investment Group Co., Ltd
Beijing Energy Investment 1,284,574,408 RMB ordinary shares
(Group) Company
Tianjin Jinneng Investment 1,212,012,600 RMB ordinary shares
Company
Guotai Junan - China 17,153,135 RMB ordinary shares
Construction Bank - The
Hongkong and Shanghai
Banking Corporation
Limited
CICC - Standard Chartered 12,023,034 RMB ordinary shares
- CITIGROUP GLOBAL
MARKETS LIMITED
Citic Securities - 11,475,831 RMB ordinary shares
Industrial
and Commercial Bank of
China - CREDIT SUISSE
(HONG KONG) LIMITED
Industrial and Commercial 9,961,120 RMB ordinary shares
Bank of China - South
Selective Stock Investment
Fund
UBS AG 9,464,073 RMB ordinary shares
3. SIGNIFICANT MATTERS
3.1 The details of and the reasons for the material changes in the major
financial statement items and financial indicators of the Company
(Y) Applicable ( ) Not applicable
(1) Cash balance of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 202% over the beginning of the
reporting period. This was mainly because the fund raised at the non-public
issue of shares by the Company has not been fully utilised.
(2) Notes receivable of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 46% over the beginning of the
reporting period. This was mainly because the volume of notes receivable used
by the Company's major customers for settlement increased significantly.
(3) Prepayments of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 50% over the beginning of the
reporting period. This was mainly because the prepayments for fuel coal made
to external parties by coal-fire power plants and the coal trading business
increased during the reporting period.
(4) Other receivables of the Company and its subsidiaries as at the end of the
reporting period decreased by approximately 39% over the beginning of the
reporting period. This was mainly because enhanced efforts were made to
increase the recovery of fund during the reporting period.
(5) Inventories of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 112% over the beginning of the
reporting period. This was mainly because of the increase in the storage of
fuel.
(6) Other current assets of the Company and its subsidiaries as at the end of
the reporting period decreased by approximately 38% over the beginning of the
reporting period. This was mainly because deferred expenses have been
amortised.
(7) Available-for-sale financial assets of the Company and its subsidiaries as
at the end of the reporting period increased by approximately 921% over the
beginning of the reporting period. This was mainly because the shares of
Southwest Securities held by Chongqing Dingtai Energy (Group) Company Limited,
a subsidiary of Yuneng (Group) Company Limited (a subsidiary of the Company)
were consolidated during the reporting period.
(8) Advances from customers of the Company and its subsidiaries as at the end
of the reporting period increased by approximately 232% over the beginning of
the reporting period. This was mainly because subsidiaries of the Company
received advance payments for trading from external parties.
(9) Salary payable of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 43% over the beginning of the
reporting period. This was mainly because subsidiaries of the Company have not
fully paid up the provision for various staff salaries in the first quarter.
(10) Dividends payables of the Company and its subsidiaries as at the end of
the reporting period decreased by approximately 100% over the beginning of the
reporting period. This was mainly because subsidiaries of the Company have
paid dividends to minority shareholders.
(11) Other payables of the Company and its subsidiaries as at the end of the
reporting period increased by 101% over the beginning of the reporting period.
This was mainly because the consolidation of Yuneng (Group) Company Limited, a
subsidiary of the Company, this year led to an increase in other payables.
(12) Non-current liabilities due within one year of the Company and its
subsidiaries as at the end of the reporting period decreased by approximately
40% over the beginning of the reporting period. This was mainly because long-
term borrowings due within one year were repaid.
(13) Capital reserve of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 173% over the beginning of the
reporting period. This was mainly because of the capital premium of the
Company's non-public issue of shares.
(14) Operating revenue of the Company and its subsidiaries for the reporting
period increased by approximately 72% over the corresponding period of the
previous year. This was mainly because of the increase in power generation. In
addition, the expansion of non-power businesses during the year also led to an
increase in operating revenue.
(15) Operating cost of the Company and its subsidiaries for the reporting
period increased by approximately 75% over the corresponding period of the
previous year. This was mainly because of the increase in power generation and
the expansion of non-power businesses.
(16) Selling expenses of the Company and its subsidiaries for the reporting
period increased by approximately 1,148% over the corresponding period of
the previous year. This was mainly because of port expenses arising from the
change of trading practice of Beijing Datang Fuel Company Limited, a
subsidiary of the Company; the fact that certain amounts of a subsidiary of
the Company, which is not solely controlled, were consolidated at the end of
2009 and at the beginning of 2010 but the corresponding expenses had not been
consolidated in the Company's financial statements for the corresponding
period of the previous year; and that the expansion of the non-power
businesses also led to an increase in selling expenses.
(17) General and administrative expenses of the Company and its subsidiaries
for the reporting period increased by approximately 79% over the corresponding
period of the previous year. This was mainly because certain amounts of a
subsidiary of the Company, which is not solely controlled, were consolidated
at the end of 2009 and at the beginning of 2010 but the corresponding expenses
had not been consolidated in the Company's financial statements for the
corresponding period of the previous year; and the expansion of the non-power
businesses also led to an increase in general and administrative expenses.
(18) Investment income of the Company and its subsidiaries for the reporting
period increased by approximately 125% over the corresponding period of the
previous year. This was mainly because the profits of the Company's associates
and joint-ventures increased significantly as compared to the corresponding
period of the previous year.
(19) Non-operating income of the Company and its subsidiaries for the
reporting period decreased by approximately 72% over the corresponding period
of the previous year. This was mainly because the Company generated an income
from the disposal of the Company's subsidiary, Shanxi Zhongqiang Trading
Company Limited, in the corresponding period of the previous year but the
Company did not have such income for the reporting period.
(20) Non-operating expenses of the Company and its subsidiaries for the
reporting period increased by approximately 435% over the corresponding period
of the previous year. This was mainly because the Company has donated to
external parties during the reporting period.
(21) Income tax of the Company and its subsidiaries for the reporting period
increased by approximately 191% over the corresponding period of the previous
year. This was mainly because profits for the reporting period increased
resulting from an increase in power generation.
(22) Net profit attributable to equity holders of the Company and its
subsidiaries for the reporting period decreased by 57% over the corresponding
period of the previous year. This was mainly because of the decrease in power
generation due to drought for those hydropower companies in the southwestern
region in which the Company has majority interests; and that some coal-fire
power companies of the Company suffered from increase in fuel cost.
(23) Minority interests of the Company and its subsidiaries for the reporting
period increased by approximately 760% over the corresponding period of the
previous year. This was mainly because the increase in power generation led to
increases in the profits of the Company and its subsidiaries for the reporting
period over the corresponding period of the previous year.
(24) Other comprehensive income of the Company and its subsidiaries for the
reporting period decreased by approximately 141% over the corresponding period
of the previous year. This was mainly because of the price change of
available-for-sale financial assets held by the Company's
associates, Tongfang Investment Co., Ltd., leading to a significant decrease
in capital surplus over the corresponding period of the previous year.
(25) Net cash flows generated from operating activities of the Company and its
subsidiaries for the reporting period increased by approximately 81.91% over
the corresponding period of the previous year. This was mainly because of the
increase in operating units over the corresponding period of the previous year
and the increase in the consolidation of subsidiaries over the corresponding
period of the previous year.
(26) Effect of foreign exchange rate changes on cash and cash equivalents of
the Company and its subsidiaries for the reporting period decreased by
approximately 107% over the corresponding period of the previous year. This
was mainly because of exchange losses due to the fluctuations of exchange
rates.
3.2 The analysis and explanation of progress and impact of major events and
solutions
(Y) Applicable ( ) Not applicable
The Company completed the non-public issue of a total of 530,000,000 A shares
to target subscribers on 23 March 2010. Upon completion of the issue, the
total share capital of the Company increased from 11,780,037,578 shares to
12,310,037,578 shares. The gross amount of fund raised amounted to
RMB3,301,900,000 and the net amount of fund raised amounted to
RMB3,248,246,600.
3.3 The performance of the undertakings made by the Company, shareholders and
the de facto controller
( ) Applicable (Y) Not applicable
3.4 The warning and explanation in the forecast of the possible aggregate net
profits from the beginning of the year to the end of the next reporting
period becoming a loss or significant changes over the corresponding period of
the previous year
( ) Applicable (Y) Not applicable
3.5 Status of the Implementation of the Cash Dividend Policy during the
Reporting Period
The Board has formulated the profit distribution proposal for 2009. The said
proposal will be submitted to the 2009 annual general meeting of the Company
for consideration and approval.
By Order of the Board
Zhai Ruoyu
Chairman
Beijing, the PRC, 29 April 2010
As at the date of this announcement, the directors of the Company are:
Zhai Ruoyu, Hu Shengmu, Cao Jingshan, Fang Qinghai, Zhou Gang, Liu Haixia,
Guan Tiangang, Su Tiegang, Ye Yonghui, Li Gengsheng, Xie Songlin*, Liu Chaoan*,
Yu Changchun*, Xia Qing* and Li Hengyuan*
* Independent non-executive directors
4. APPENDIX:
4.1 Consolidated balance sheet and balance sheet of the Company (unaudited)
31 March 2010
RMB'000
Amount
Amount for for the
the end of beginning of
the period the period
Item
Current assets:
Cash balance 4,553,710 1,506,435
Notes receivable 204,136 140,273
Accounts receivable 6,552,710 6,494,644
Prepayments 3,196,571 2,128,077
Other receivable 1,557,547 2,563,775
Inventories 3,941,164 1,855,177
Other current assets 146 237
Total current assets 20,005,984 14,688,618
Non-current assets:
Available-for-sale financial assets 190,953 18,700
Long-term receivable 198,741 198,717
Long-term equity investment 7,632,684 6,647,048
Investment property 17,399 -
Fixed assets 105,079,425 96,616,097
Construction-in-progress 46,365,503 49,964,067
Construction materials 9,936,625 9,471,447
Disposal of fixed assets -2,695 -
Intangible assets 3,567,163 3,112,600
Goodwill 617,306 533,745
Long-term deferred expenses 78,490 78,673
Deferred income tax assets 758,565 716,083
Other non-current assets 18,512 18,512
Total non-current assets 174,458,671 167,375,689
Total assets 194,464,655 182,064,307
Amount
Amount for for the
the end of beginning of
the period the period
Item
Current liabilities:
Short-term loans 20,879,425 19,569,023
Notes payable 761,574 697,703
Account payable 15,108,734 12,076,588
Advances from customers 484,920 146,277
Salary payable 47,003 32,825
Taxes payable -1,312,515 -1,610,251
Interests payable 289,767 356,389
Dividends payable - 36,909
Other payables 1,467,949 730,238
Non-current liabilities due within one year 4,430,742 7,367,012
Other current liabilities 22,690 -
Total current liabilities 42,180,289 39,402,713
Non-current liabilities:
Long-term loans 105,610,290 99,506,545
Debentures payable 5,941,071 5,938,544
Long-term payable 3,570,649 3,701,165
Specific payable 400 -
Accrued liabilities 41,554 36,008
Deferred income tax liabilities 286,053 286,600
Other non-current liabilities 467,545 475,788
Total non-current liabilities 115,917,562 109,944,650
Total liabilities 158,097,851 149,347,363
Shareholders' equity:
Share capital 12,310,038 11,780,038
Capital surplus 4,319,908 1,584,008
Specific reserve 404,201 383,588
Surplus reserve 10,920,897 10,945,628
Undistributed profits 1,381,378 1,362,492
Currency translation differences 18,651 17,691
Total equity attributable to equity holders
of the Company
29,355,073 26,073,445
Minority interests 7,011,731 6,643,499
Total shareholders' equity 36,366,804 32,716,944
Total liabilities and shareholders' equity 194,464,655 182,064,307
Balance sheet of the Company (unaudited)
31 March 2010
RMB'000
Amount
Amount for for the
the end of beginning of
the period the period
Item
Current assets:
Cash balance 2,368,741 291,589
Account receivable 1,108,185 1,184,183
Prepayment 295,230 762,088
Dividend receivable 95,350 98,766
Other receivable 1,753,692 7,210,535
Inventories 240,570 194,318
Total current assets 5,861,768 9,741,479
Non-current assets:
Long-term receivable 6,729,927 3,894,922
Long-term equity investment 24,538,408 22,874,037
Fixed assets 7,390,993 7,556,170
Construction-in-progress 1,837,863 1,776,434
Construction materials 218,200 218,200
Intangible assets 542,508 545,227
Goodwill 33,127 33,561
Long-term deferred expenses 18,568 18,661
Deferred income tax assets 41,556 41,556
Total non-current assets 41,351,150 36,958,768
Total assets 47,212,918 46,700,247
Current liabilities:
Short-term loans 500,000 550,000
Account payable 1,063,871 1,248,306
Salary payable 6,858 6,010
Taxes payable -30,343 58,848
Interests payable 117,222 178,045
Other payable 221,383 220,897
Non-current liabilities due within one year 263,400 963,400
Total current liabilities 2,142,391 3,225,506
Amount
Amount for for the
the end of beginning of
the period the period
Item
Non-current liabilities:
Long-term loans 8,489,600 10,409,600
Debentures payable 5,941,071 5,938,544
Long-term payable 18,000 27,000
Other non-current liabilities 350,688 357,299
Total non-current liabilities 14,799,359 16,732,443
Total liabilities 16,941,750 19,957,949
Shareholders' equity:
Share capital 12,310,038 11,780,038
Capital surplus 4,340,053 1,629,426
Specific reserve 307,485 304,634
Surplus reserve 10,983,062 10,983,062
Undistributed profits 2,330,530 2,045,138
Total shareholders' equity 30,271,168 26,742,298
Total liabilities and shareholders' equity 47,212,918 46,700,247
4.2 Consolidated profit and loss account (unaudited)
January to March 2010
RMB'000
Amounts
for the
corresponding
Amounts for period of
the period previous year
Item
1. Total operating revenue 14,705,407 8,567,655
Including: Operating revenue 14,705,407 8,567,655
2. Total operating cost 14,622,584 8,646,725
Including:
Operating cost 12,742,675 7,261,716
Business tax and surcharges 58,892 77,841
Selling expenses 75,090 6,017
General and administrative 523,214 292,252
expenses
Financial expenses 1,223,576 1,008,899
Impairment loss of assets -863 -
Add: Investment income/loss denoted 153,815 68,213
by "-"
Including: Investment income 148,265 -3,123
from associates and jointly
controlled entities
3. Operating profit/loss denoted by "-" 236,638 -10,857
Add: Non-operating income 16,820 61,001
Less: Non-operating expenses 772 144
4. Total profit/total loss denoted by "-" 252,686 50,000
Less: Income tax 100,735 34,614
5. Net profit/net loss denoted by "-" 151,951 15,386
Net profit attributable to equity holders of 15,536 36,070
the Company
Minority interests 136,415 -20,684
6. Earning per share
a. Basic earnings per share 0.0013 0.003
b. Diluted earnings per share 0.0013 0.003
7. Other comprehensive income -6,785 16,659
8. Total comprehensive income 145,166 32,045
Total comprehensive income attributable to 8,751 52,729
equity holders of the Company
Total comprehensive income attributable to 136,415 -20,684
minority shareholders
Profit and loss account of the Company (unaudited)
January to March 2010
RMB'000
Amounts
for the
corresponding
Amount for period of the
the period previous year
Item
1. Operating revenue 2,076,326 1,885,669
Less: Operating cost 1,926,712 1,698,439
Tax and levies on principal 80 18,317
operations
General and administrative expenses 138,900 122,443
Financial expenses 151,893 66,418
Add: Investment income/loss denoted 420,701 193,333
by "-"
Including: Investment income from 148,265 -2,401
associates and jointly controlled
entities
2. Operating profit/loss denoted by "-" 279,442 173,385
Add: Non-operating income 6,610 45,582
Less: Non-operating expenses 660 17
3. Total profit/total loss denoted by "-" 285,392 218,950
Less: Income tax expenses - 25,666
4. Net profit/net loss denoted by "-" 285,392 193,284
5. Earnings per share:
(1) Basic earnings per share - -
(2) Diluted earnings per share - -
6. Other comprehensive income -7,744 17,548
7. Total comprehensive income 277,648 210,832
4.3 Consolidated cash flow statements (unaudited)
January to March 2010
RMB'000
Amounts
for the
corresponding
Amount for period of the
the period previous year
Item
1. Cash flows generated from operating
activities:
Cash received from sales of goods and
services rendered 13,524,158 9,396,275
Refund of taxes and levies 1,727 47,949
Other cash received relating to operating
activities 159,059 55,487
Sub-total of cash inflows generating from
operating activities 13,684,944 9,499,711
Cash paid for goods and services received 8,532,175 5,892,423
Cash paid to and on behalf of employees 501,595 365,526
Payments of all types of taxes 849,102 1,182,216
Other cash paid relating to operating
activities 398,322 188,479
Sub-total of cash outflows from operating
activities 10,281,194 7,628,644
Net cash flows generated from operating
activities 3,403,750 1,871,067
2. Cash flows generated from investing
activities:
Cash received on disposals of investment 314,600 -
Cash received on investment income 1,660 723
Net cash received from disposals of fixed
assets, intangible assets and other
long-term assets 200 -
Net cash received on disposals of
subsidiaries and other operating units 7,896 122,793
Other cash received relating to investing
activities 573,014 5,214
Sub-total of cash inflows from investing
activities 897,370 128,730
Cash paid to acquire fixed assets,
intangible assets and other long-term assets 4,725,239 5,320,708
Cash paid to acquire investments 1,849,386 16,000
Net cash received from subsidiaries and
other operating units -1,425,928 -
Other cash paid relating to investing
activities 205,925 246,538
Sub-total of cash outflows generated from
investing activities 5,354,622 5,583,246
Net cash flow generated from investing
activities -4,457,252 -5,454,516
Amounts
for the
corresponding
Amount for period of the
the period previous year
Item
3. Cash flows generated from financing
activities:
Cash received from investment 3,756,253 79,396
Including: Cash received from minority
shareholders' equity investment in
subsidiaries 458,910 79,396
Cash received from borrowings 21,350,551 22,954,123
Other cash received relating to financing
activities 44,195 59
Sub-total of cash inflows generated from
financing activities 25,150,999 23,033,578
Cash paid on repayments of borrowings 18,992,216 18,015,528
Cash paid for dividends, profit
appropriation or interest expenses 1,816,459 1,675,953
Including: Dividend paid to minority
shareholders of subsidiaries 36,909 -
Other cash paid relating to financing
activities 241,448 74,980
Sub-total of cash outflows generated from
financing activities 21,050,123 19,766,461
Net cash flows generated from financing
activities 4,100,876 3,267,117
4. Effect of foreign exchange rate
changes on cash and cash equivalents -100 1,388
5. Net increase in cash and cash
equivalents 3,047,274 -314,944
Add: Cash and cash equivalents at the
beginning of the reporting period 1,506,435 5,371,009
6. Cash and cash equivalents at the end
of the reporting period 4,553,709 5,056,065
Cash flow statement of the Company (unaudited) January to March 2010
RMB'000
Amounts for the
corresponding
Amount for period of the
the period previous year
Item
1. Cash flows generated from operating
activities:
Cash received from sales of goods and 2,494,270 2,149,850
services rendered
Other cash received relating to operating 63,193 49,677
activities
Sub-total of cash inflows generated from 2,557,463 2,199,527
operating activities
Cash paid for goods and services received 1,519,502 1,676,966
Cash paid to and on behalf of employees 253,601 204,907
Payments of all types of taxes 116,162 524,312
Other cash paid relating to operating
activities 128,593 66,915
Sub-total of cash outflows generated from 2,017,858 2,473,100
operating activities
Net cash flows generated from operating 539,605 -273,573
activities
2. Cash flows generated from investing
activities:
Cash received on disposal of investments 309,138 663,698
Cash received on investment income 270,547 112,112
Net cash received on disposals of - 300,000
subsidiaries and other operating units
Other cash received relating to investing 5,642,372 3,887,945
activities
Sub-total of cash inflows generated from 6,222,057 4,963,755
investing activities
Cash paid to acquire fixed assets, 199,038 1,706,606
intangible assets and other long-term assets
Cash paid to acquire investments 4,577,230 1,729,029
Other cash paid relating to investing
activities 91,594 219,259
Sub-total of cash outflows generated from 4,867,862 3,654,894
investing activities
Net cash flows generated from investing 1,354,195 1,308,861
activities
Amounts for the
corresponding
Amount for period of the
the period previous year
Item
3. Cash flows generated from financing
activities:
Cash received from investments 3,249,175 -
Cash received from borrowings 1,000,000 4,240,000
Cash received relating to financing 172,334 -
activities
Sub-total of cash inflows generated from 4,421,509 4,240,000
financing activities
Cash paid on repayments of borrowings 3,970,000 5,200,000
Cash paid for dividends, profit 257,971 321,367
appropriation or interest expenses
Other cash paid relating to financing 10,075 29,217
activities
Sub-total of cash outflows generated from 4,238,046 5,550,584
financing activities
Net cash flows generated from financing 183,463 -1,310,584
activities
4. Effect of foreign exchange rate -111 74
changes on cash and cash equivalents
5. Net increase in cash and cash 2,077,152 -275,222
equivalents
Add: Cash and cash equivalents at the 291,589 2,053,885
beginning of the reporting period
6. Cash and cash equivalents at the end 2,368,741 1,778,663
of the reporting period
Note: In December 2009, the Company included a subsidiary "Datang Zhangzhou
Wing Power Development Company Limited" which has been consolidated under the
same controlling entity. Pursuant to the relevant requirements of "China
Accounting Standards for Business Enterprises No. 30 - Presentation of
Financial Statements" and "China Accounting Standards for Business Enterprises
No. 33 - Consolidated Financial Statements", the corresponding retrospective
adjustments have been made on the consolidated income statement and
consolidated cashflow statement.
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