1st Quarterly Report of 2008
Datang Intl Power Generation Co Ld
30 April 2008
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 2008
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 attended the Board meeting.
1.3 The financial statements in this first quarterly report of the Company are unaudited.
1.4 Mr. Zhai Ruoyu, the 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 (head of accounting), 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
Unit: RMB
At the end of the At the end of last Increase/Decrease at
reporting period reporting year the end of
the reporting
period compared to
the end of
last year (%)
Total assets (RMB'000) 131,478,164 121,515,641 8.20
Interests of equity holders (or Interests 33,441,890 34,007,341 -1.66
of shareholders) (RMB'000)
Net assets per share attributable to 2.44 2.50 -2.40
shareholders of the listed company (RMB)
Beginning of Increase/Decrease compared
the year to
to the end of the corresponding period of
reporting period last year (%)
Net cash flow from operating activities (RMB'000) 2,236,649 -27.75
Net cash flow per share from operating activities 0.19 -29.63
(RMB) (Note)
The reporting period Beginning of the year Increase/
to the end of the Decrease at the
reporting period reporting period
as compared
to same period
last year
(%)
Net profit attributable to shareholders 437,825 437,825 -49.59
of the listed company (RMB'000)
Basic earnings per share (RMB) (Note) 0.04 0.04 -50.00
Basic earnings per share after deduction 0.04 0.04 -50.00
of non-recurring profit/loss (RMB) (Note)
Diluted earnings per share (RMB) (Note) 0.04 0.04 -50.00
Return on net assets (fully diluted) (%) 1.53% 1.53% -54.87
Return on net assets after deduction of 1.53% 1.53% -54.87
non-recurring profit/loss (fully diluted)(%)
Non-recurring profit/loss items Amount from the
beginning of the year
to the end of the
reporting period
(RMB'000)
Other non-operating revenue/expense, net -571
Impact of income tax -118
Total -689
Note: The per share figures for the same period of 2007 are retroactively
adjusted due to the implementation of the share capital expansion by
way of capitalisation of the capital reserve fund in 2007 under which 10 bonus
shares were issued for 10 shares held.
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 shareholders at the end 337,271
of the reporting period
Top ten holders of circulating shares not subject to selling restrictions
Name of shareholder (Full title) Number of circulating shares held not
Type of Share subject to selling restriction as at the end
of the period
HKSCC NOMINEES LIMITED 3,259,853,845 Overseas-listed foreign shares
(H Share)
Beijing Energy Investmnet (Group) 1,343,584,800 RMB-denominated
ordinary shares
Company
Hebei Construction Investment Company 1,303,878,100 RMB-denominated
ordinary shares
Tianjin Jinneng Investment Company 1,119,654,000 RMB-denominated
ordinary shares
International Finance - Chartered - 7,308,731 RMB-denominated
ordinary shares
CITIGROUP GLOBAL MARKETS LIMITED
Shenyin Wanguo - Chartered - BARCLAYS 3,874,500 RMB-denominated
ordinary shares
BANK PLC
Bank of China - Jiashi Shanghai 3,869,152 RMB-denominated
ordinary shares
Shenzhen 300 Index Securities Investment
Fund
Baosteel Group Corporation Limited 2,500,000 RMB-denominated
ordinary shares
China Construction Bank - Boshi Yufu 2,109,752 RMB-denominated
ordinary shares
Securities Investment Fund
Cao Yong 2,062,680 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
(1) The balance of cash of the Company and its Subsidiaries as at the end of the period increased by
approximately 80% over the beginning of the period. This was mainly due to the cash inflow from
financing activities such as borrowings and sale and lease back.
(2) Notes receivable for the Company and its Subsidiaries as at the end of the period decreased by
approximately 92% over the beginning of the period. This was mainly because the due and settled
amount during the period for the Company's income settled by notes exceeded the amount of notes
receivable newly incurred during the period.
(3) Prepayments for the Company and its Subsidiaries as at the end of the period increased by
approximately 46% over the beginning of the period. This was mainly due to an increase in
prepayments for fuels.
(4) Other receivables for the Company and its Subsidiaries as at the end of the period increased by
approximately 31% over the beginning of the period. This was mainly due to the sale and lease back
deposits for Datang International Ningde Power Generation Company Limited.
(5) Inventories for the Company and its Subsidiaries as at the end of the period increased by
approximately 55% over the beginning of the period. This was mainly due to an increase in fuel
coal prices and an increase of fuel coal inventory in certain power plants.
(6) Available-for-sale financial assets for the Company and its Subsidiaries as at the end of the
period decreased by approximately 32% over the beginning of the period. This was mainly due to a
decline in the share price of the stock of Daqin Railway Co., Ltd. ('Daqin Railway').
(7) Goodwills for the Company and its Subsidiaries as at the end of the period increased by
approximately 137% over the beginning of the period. The increased portion arose from the goodwill
resulted from the acquisition of Zhenxing-AES Power Co., Ltd. by Datang International (Hong Kong)
Limited.
(8) Deferred income tax assets for the Company and its Subsidiaries as at the end of the period
increased by approximately 50% over the beginning of the period. This was mainly due to the losses
of certain power plants during the period.
(9) Notes payable for the Company and its Subsidiaries as at the end of the period decreased by
approximately 46% over the beginning of the period. This was mainly because the due and paid
amount for the power plants' notes payable exceeded the amount of newly incurred notes payable.
(10) Long-term payables for the Company and its Subsidiaries as at the end of the period increased by
approximately 2,416% over the beginning of the period. The increased portion comprised mainly the
present value of the future rentals arising from sale and lease back conducted by Fujian Datang
International Ningde Power Generation Company Limited.
(11) Deferred income tax liabilities for the Company and its Subsidiaries as at the end of the period
decreased by approximately 32% over the beginning of the period. This was mainly due to the
decline in the share price of Daqin Railway which led to a decrease in fair value for the Daqin
Railway investment, thereby lowering deferred income tax liabilities accordingly.
(12) Net finance costs for the Company and its Subsidiaries for the period increased by approximately
38% over the same period last year. This was mainly due to an increase in borrowings during the
period and the previously capitalised interests of certain completed power plants charged into
expenses.
(13) Income tax expenses for the Company and its Subsidiaries for the period decreased by approximately
63% over the same period last year. This was mainly due to a decrease in the income tax rate and
decreased profit for certain subsidiaries of the Company during the period.
(14) Net profit attributable to shareholders of the listed company for the Company and its Subsidiaries
for the period decreased by almost 50% over the same period last year. This was mainly due to
increases in fuel coal prices and finance costs.
(15) Gain/loss attributable to minority shareholders for the Company and its Subsidiaries for the
period decreased by approximately 39% over the same period last year. This was mainly due to a
decrease in the profit for the Company's subsidiaries.
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 as compared to the
corresponding period of the previous year
( )Applicable (X) Not applicable
3.5 Securities Investments
(X) Applicable ( ) Not applicable
Unit: RMB '000
No. Stock code Abbreviation Number of Initial Book value Book value Account category
shares held at investment as at as at
the end of the costs the end of the
reporting the period beginning
period of
(shares) the period
1 601006 Daqin Railway 167,429,000 496,149 2,896,522 4,289,531 Available-for-sale
financial assets
Total - - 167,429,000 496,149 2,896,522 4,289,531 -
By Order of the Board
Zhai Ruoyu
Chairman
Datang International Power Generation Co., Ltd.
Beijing, the PRC, 29 April 2008
As at the date of this announcement, the directors of the Company are:
Zhai Ruoyu, Zhang Yi, Hu Shengmu, Fang Qinghai, Zhou Gang, Liu Haixia, Guan
Tiangang, Su Tiegang, Ye Yonghui, Li Gengsheng, Xie Songlin*, 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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