1st Quarter Results

Datang Intl Power Generation Co Ld 27 April 2007 Datang International Power Generation Co., Ltd. (a sino-foreign joint stock limited company incorporated in the People's Republic of China) (Stock Code: 991) OVERSEAS REGULATORY ANNOUNCEMENT FIRST QUARTERLY REPORT OF 2007 In accordance with the requirement of the Chinese 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 statements in this quarterly report are unaudited and were prepared in accordance with the PRC GAAP. This announcement is made pursuant to Rule 13.09(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'), supervisory committee and directors, supervisors and senior management of the Company confirm that there are no false representations and misleading statements contained in, or material omissions from, this report, and jointly and severally accept responsibility for the truthfulness, accuracy and completeness of the content of this report. 1.2 All directors of the Company convened the twenty-second meeting of the fifth session of the Board by way of written correspondence. 1.3 The financial statements in this 2007 first quarterly report of the Company are unaudited. 1.4 Mr. Zhai Ruoyu, Chairman of the Company, Mr. Wang Xianzhou, the person-in-charge of accounting matters, and Mr. Liu Heping, person-in-charge of the accounting institution (chief accountant), warrant the truthfulness and completeness of the financial statements in this quarterly report. 1.5 This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. 2. BASIC INFORMATION OF THE COMPANY 2.1 Major accounting data and financial indicators % increase/ (decrease) at the end of the reporting period At the end At the end compared to of the of last the end of last reporting period reporting year reporting year Total assets (RMB'000) 93,255,341 90,111,134 3.49 Interests of equity holders (excluding minority interests) (RMB'000) 25,640,275 23,714,625 8.12 Net assets per share (RMB yuan) 4.46 4.19 6.44 % increase (decrease) compared to Beginning of the year the corresponding to the end of the period of the reporting period previous year Net cash flow from operating activities (RMB'000) 3,095,351 N/A Net cash flow per share from operating activities (RMB yuan) 0.54 N/A % increase (decrease) for the reporting period Beginning of compared to the the year to corresponding The reporting the end of the period of the period reporting period previous year Net profit (excluding profit/loss attributable to minority shareholders) (RMB'000) 868,471 868,471 N/A Basic earnings per share (RMB yuan) 0.15 0.15 N/A Diluted earnings per share (RMB yuan) 0.15 0.15 N/A Return on net assets (%) 3.55% 3.55% N/A Return on net assets after deduction of non-recurring profit/loss (%) 3.55% 3.55% N/A Amount from the beginning of the year to the end of Non-recurring profit/loss items the reporting period (RMB'000) Net non-operating revenue/expense (811 ) Impact of income tax 268 Total (543 ) 2.2 Total number of shareholders as at the end of the reporting period and the top ten holders of circulating shares not subject to selling restrictions Unit: share Total number of 56,732 shareholders at the end of the reporting period Top ten holders of circulating shares not subject to selling restrictions Number of circulating shares held not subject to selling restriction as at Name of shareholder the end of the (Full title) reporting period Type of shares HKSCC Nominees Limited 1,493,767,413 Overseas-listed foreign shares HSBC Nominees 7,575,547 Overseas-listed (Hong Kong) Limited foreign shares CITIC Securities Co., Ltd. 3,958,980 RMB-denominated ordinary shares HSBC Nominees 3,000,000 Overseas-listed (Hong Kong) Limited foreign shares < A/C B R-148 > HSBC Nominees 3,000,000 Overseas-listed (Hong Kong) Limited foreign shares < A/C B R-149 > HSBC Nominees 3,000,000 Overseas-listed (Hong Kong) Limited foreign shares < A/C B R-150 > Zhao Feng (Chinese Word) 2,710,000 RMB-denominated ordinary shares Baosteel Group 2,536,000 RMB-denominated Corporation Limited ordinary shares China Pacific Property 2,100,000 RMB-denominated Insurance Co., Ltd. ordinary shares - conventional - ordinary insurance products Li Suqin(Chinese Word) 2,056,600 RMB-denominated ordinary shares 3. SIGNIFICANT MATTERS 3.1 Details and reasons for material changes in the major financial statement items and financial indicators of the Company (X)Applicable Not applicable Unit: RMB'000 Consolidated As at As at 31 March 31 December Change Change 2007 2006 amount (%) Note Other receivables 489,116 330,031 159,085 48% 1 Inventories 1,130,180 804,386 325,794 41% 2 Available-for-sale financial assets 2,151,463 1,356,175 795,288 59% 3 Notes payable 137,846 233,267 (95,421 ) -41% 4 Dividends payable 82,083 - 82,083 100% 5 Non-current liabilities due within 1 year 1,785,683 2,942,804 (1,157,121 ) -39% 6 Convertible bonds 666,197 1,111,810 (445,613 ) -40% 7 Deferred income tax liabilities 667,454 418,186 249,268 60% 8 1. The increase in other receivables was mainly due to the investment amounts advanced by the parent company to Datang International Hydrpower Development Company Limited(Chinese Word)and Inner Mongolia Datang International Tuoketuo No. 2 Power Generation Company Limited (Chinese Word). 2. The increase in inventories was mainly due to the mitigation in fuel coal supply in the first quarter of 2007 as compared to the end of 2006, which led to an increase in coal inventory for power plants; in addition, the increase in fuel coal prices also led to an increase in the balance of inventories. 3. The increase in available-for-sale financial assets was owing to the rise in market price of the shares of Daqin Railway Co., Ltd ('Daqin Railway'). 4. The decrease in notes payable was due to the conversion of certain notes payable in the first quarter. 5. The increase in dividends payable was due to the dividends yet to be paid by Tianjin Datang International Panshan Power Generation Company Limited and Shanxi Datang International Yungang Thermal Power Company Limited. 6. The decrease in non-current liabilities due within 1 year was a result of the power plants' repayment of loans due within the period. 7. The decrease in convertible bonds was due to the conversion of certain US Dollar convertible bonds into overseas-listed foreign shares during the first quarter of 2007. 8. The increase in deferred income tax liabilities was mainly due to the increase in market price of the shares of Daqin Railway. Unit: RMB'000 Parent company As at As at 31 March 31 December Change Change 2007 2006 amount (%) Note Dividends receivable 253,507 995 252,512 25,378% 1 Inventories 404,537 277,653 126,884 46% 2 Available-for-sale financial assets 2,151,463 1,356,175 795,288 59% 3 Construction materials 121,210 244,747 (123,537 ) -50% 4 Convertible bonds 666,197 1,111,810 (445,613 ) -40% 5 Deferred income tax liabilities 637,181 387,129 250,052 65% 6 1. The increase in dividends receivable was due to the distribution of the 2006 profit by the subsidiaries during the first quarter. 2. The increase in inventories was mainly due to the mitigation in fuel coal supply at the beginning of 2007 as compared to the end of 2006, which led to an increase in coal inventory for power plants; in addition, the increase in fuel coal prices also led to an increase in the total balance of inventories. 3. The increase in available-for-sale financial assets was caused by the rise in the market price of the shares of Daqin Railway. 4. The decrease in construction materials was mainly due to that part of Wushashan project's construction materials transferred into fixed assets during the first quarter. 5. The decrease in convertible bonds was due to the conversion of certain US Dollar convertible bonds into overseas-listed foreign shares during the first quarter of 2007. 6. The increase in deferred income tax liabilities was mainly due to the increase in market price of the shares of Daqin Railway. 3.2 Analysis and explanation of progress and impact of major events and solutions Applicable (X) Not applicable 3.3 Implementation of the undertakings made by the Company, shareholders and the actual controller Applicable (X) Not applicable 3.4 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 compared to the corresponding period of the previous year Applicable (X) Not applicable 3.5 Explanation in the difference between shareholders' equity as at the beginning of 2007 as stated in the balance sheet of this quarterly report and the shareholders' equity as at the beginning of 2007 as stated in the 'Table of Reconciliation on Shareholders' Equity Differences Under the New and Old Accounting Standards' (X) Applicable Not applicable The difference between the consolidated shareholders' equity as at the beginning of 2007 as stated in the balance sheet of this quarterly report and the shareholders' equity as at the beginning of 2007 as stated in the 'Table of Reconciliation on Shareholders' Equity Differences Under the New and Old Accounting Standards' was RMB61,804,000. The entire amount was the impact on the minority interests stated in the financial statement of Hebei Yuzhou Energy Multiple Development Company Limited ('Yuzhou Energy'), a jointly controlled entity of the Company. Under the new accounting standards, jointly controlled entities are no more consolidated into the consolidated financial statements by the proportionate consolidation method, but accounted for by the equity method. As this change is not included in articles 5 to 19 of 'Accounting Standards for Enterprises No. 38 - First Adoption of Accounting Standards for Enterprises', it is not reflected as an adjusting item in the 'Table of Reconciliation on Shareholders' Equity Differences Under the New and Old Accounting Standards'. Accordingly, in the 'Table of Reconciliation on Shareholders' Equity Differences Under the New and Old Accounting Standards', the minority interests of Yuzhou Energy was stated as part of the consolidated shareholders' equity; but in the balance sheet as at the beginning of 2007 of this quarterly report, the consolidated shareholders' equity does not include this portion of minority interests. This difference has no impact on the equity attributable to the shareholders' of the parent company. For the unaudited balance sheet as at 31 March 2007, the unaudited 2007 first quarterly profit and loss account (under the PRC GAAP) and the unaudited 2007 first quarterly cash flow statement (under the PRC GAAP), please refer to the Shanghai Stock Exchange website (www.sse.com.cn). By Order of the Board Zhai Ruoyu Chairman Datang International Power Generation Co., Ltd. Beijing, the PRC, 26 April 2007 As at the date of this announcement, the directors of the Datang International Power Generation Co., Ltd. are: Zhai Ruoyu, Zhang Yi, Hu Shengmu, Fang Qinghai, Yang Hongming, Liu Haixia, Guan Tiangang, Su Tiegang, Ye Yonghui, Tong Yunshang, Xie Songlin*, Xu Daping*, Liu Chaoan*, Yu Changchun* and Xia Qing* * independent non-executive Directors This information is provided by RNS The company news service from the London Stock Exchange

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