Final Results

Beijing Datang Power Generation Com
7 March 2001



          BEIJING DATANG POWER GENERATION COMPANY LIMITED
  (A Sino-foreign Joint Stock Limited Company Incorporated in the
                    People's Republic of China)

                Announcement of Annual Results 2000

Annual Results
The Board of Directors of Beijing Datang Power Generation Company
Limited (the 'Company') hereby announces the audited operating
results of the Company and its subsidiaries, extracted from the
audited financial statements prepared in conformity with
International Accounting Standards, for the year ended 31st
December, 2000 (the 'Year'), together with the operating results
of the corresponding period in 1999 ('Last year') for
comparison.

The Company's net operating revenue for the Year was approximately
RMB5,694,195,000, representing an increase of 9.09% compared to
Last year. Profit after taxation was approximately
RMB1,375,300,000, representing an increase of 10.01% compared to
Last year. Earnings per share were RMB0.27, representing an
increase of RMB0.03 compared to Last year.
The Board of Directors is satisfied with the above results. Please
refer to the consolidated income statement set out below for
details of the operating results.

Consolidated Income Statement
For the year ended 31st December, 2000
(All amounts expressed in thousands of RMB, except per share data)

                                   Note      2000          1999

Operating revenue, net                3      5,694,195     5,219,621

Operating costs:
     Local government surcharges             (73,554)      (68,427)
     Fuel                                    (1,686,775)   (1,669,746)
     Repair and maintenance                  (194,281)     (202,474)
     Depreciation and amortisation           (911,223)     (734,715)
     Labour                                  (285,887)     (249,140)
     General and administration              (347,953)     (260,961)
     Others, net                             (151,020)     (208,822)

          Total operating costs              (3,650,693)   (3,394,285)

Operating profit                             2,043,502     1,825,336

Financial income, net                        27,055        48,392

Profit before taxation                       2,070,557     1,873,728

Taxation                              4      (695,257)     (623,585)

Net profit                                   1,375,300     1,250,143

Proposed dividends                           516,285       309,771

Earnings per share, basic (RMB)       5      0.27          0.24

Dividend per share (RMB)              6      0.10          0.06



Notes
1.  ORGANISATION AND OPERATIONS
    Beijing Datang Power Generation Company Limited was
    incorporated in Beijing, the People's Republic of China (the
    'PRC'), on 13th December, 1994 as a joint stock limited
    company. Subsequent to the listing of its H shares on the
    Stock Exchange of Hong Kong Limited and the London Stock
    Exchange Limited on 21st March, 1997, the Company was
    registered as a Sino-foreign joint venture on 13th May, 1998.
    The Company currently owns and operates four power plants in
    Hebei Province and Beijing City of the PRC. Particulars of
    the Company's power plants are as follows:

    Power plants               Total       Commencement   Principal  
                               installed   of operations  activities
                               capacity
                               (MW)

    Dou He Power Plant         1,550       1975-1987      Power generation
    Gao Jing Power Plant       600         1960-1974      Power generation
    Xia Hua Yuan Power Plant   400         1982-1988      Power generation
    Zhang Jia Kou Power Plant  2,100       1991-2000      Power generation

    Particulars of the Company's subsidiaries and associated
    company, all of which are limited companies established and
    operated in the PRC, are as follows:


    Company name    Date of    Registered  Paid-up   Attributable Principal
                    establish  capital     capital   interest     activities
                    ment
                               '000        '000                    
    Subsidiaries
                                                   
    Tianjin Datang  6th        930,790     930,790   75.00%       Power      
    Panshan Power   August,                                       generation
    Generation Co.  1997                                         (construction
    Ltd.                                                          in-progress)
    Inner Mongolia  17th       200,194     200,194   60.00%       Power
    Datang          November,                                     generation
    Tuoketuo Power  1995                                         (construction
    Generation Co.                                                in-progress)
    Ltd.
     
    Hebei Huaze     29th       59,161      54,591    90.43%       Power
    Hydropower      July,                                         generation
    Development     1998                                         (construction
    Company Limited                                               in-progress)

    Associated company

    Beijing         7th        100,000     100,000   30.00%        Power
    Electricity     December,                                      related
    Science and     2000                                           technology
    Technology                                                     services
    Development
    Company
    Limited


2.  Basis of presentation
    The audited financial statements of the Company and its
    subsidiaries are prepared in conformity with International
    Accounting Standards. The principal accounting policies
    adopted for the preparation of the financial statements for
    2000 are consistent with those for 1999.

3.  Operating revenue
    All of the Company's sales of on-grid electricity for the
    Year were made to North China Power Group Company.

4.  Taxation
    Enterprise income tax is provided on the basis of the
    statutory profit for financial reporting purposes, adjusted
    for income and expense items which are not assessable or
    deductible for income tax purposes. The applicable PRC
    enterprise income tax rate for the Company and its
    subsidiaries is 33%.

5.  Earnings per share
    The calculation of earnings per share for the year ended 31st
    December, 2000 was based on the profit after taxation of
    approximately RMB1,375,300,000 (1999 --- RMB1,250,143,000)
    and on the number of 5,162,849,000 shares (1999 ---
    5,162,849,000 shares) in issue during the year.
    
    No diluted earnings per share was presented as there were no
    dilutive potential ordinary shares outstanding for the years
    ended 31st December, 2000 and 1999.

6.  Dividend per share
    Dividend per share for the year ended 31st December, 2000 was
    calculated based on the proposed dividend of approximately
    RMB516,285,000 (1999 --- RMB309,771,000) divided by
    5,162,849,000 (1999 --- 5,162,849,000 shares), representing
    the number of shares in issue as at 31st December, 2000.

7.  Reserves

          Capital   Statu-  Statu-  Discret-  Dividends  Retained  Total
          reserve   tory    tory    ionary               earnings
                    surplus public  surplus          
                    reserve welfare reserve          
                            fund
                         
Balance   3,653,421 540,081 228,675 1,970,250 309,771    ---       6,702,198
as at   
31st                              
December
1999
(as
restated)
(Note 8)

Dividends ---       ---     ---     ---       (309,771)  ---       (309,771)
paid                                   
(Note 8)

Profit    ---       ---     ---     ---        ---       1,375,300  1,375,300
after                                              
taxation

Transfer  ---       137,530 137,530 583,955    ---       (859,015)  ---
to 
reserves                                              

Transfer  ---       130,532 (130,532)---       ---        ---       ---
between
reserves

Proposed  ---       ---      ---     ---       516,285   (516,285)  ---
dividends


Balance  3,653,421  808,143  235,673 2,554,205 516,285    ---       7,767,727
as at   
31st
December
2000

                                                           


8.  Prior year adjustment
    In prior years, dividends proposed or declared after the
    balance sheet date were recognised as a liability as at the
    balance sheet date. Because of the adoption of the revised
    IAS10 'Events After the Balance Sheet Date', dividends
    proposed or declared after the balance sheet date are no
    longer permitted to be recognized as a liability as at the
    balance sheet date. As a result, the dividends of
    approximately RMB309,771,000 for the year ended 31st
    December, 1999 declared by the Board of Directors in March
    2000 should be recorded in the Company's financial statements
    for the year ended 31st December, 2000.

    This change in accounting policy has been applied
    retrospectively with the result that the Company's reserves
    as at 31st December, 1999 were increased by approximately
    RMB309,771,000, being the amount of final dividends declared
    by the Company after the balance sheet date.

Review and Analysis of Operations

In 2000, the steady development of the PRC economy has stimulated
growth in electricity demand. The national power demand grew by
9.5% in 2000. Power demand in the Beijing-Tianjin-Tangshan areas
served by the Company grew by 10.54%, thus creating an environment
for the growth of the Company's power generation business. The
Company's operational, financial and development strengths were
further enhanced in 2000 as a result of the Company's effective
management.

(1) Stable production and growth in power generation
    The Company continued to strengthen the management of safety
    in the use of equipment and to reinforce measures in
    production safety. As a result, the Company's generating
    units have been running with consistent stability and their
    operating condition continued to improve. The effective
    availability factor of the Company's power generation units
    was 93.3%, basically identical with that of Last year.
    Unexpected stoppages reduced by eight times as compared to
    Last year, ranking the Company's units amongst the top
    generating units in the grid in terms of availability factor.

    As at the end of 2000, the Company's installed capacity was
    4,650MW; total electricity generated was 22,328,793MWh,
    representing an increase of 9.24% compared to Last year.
    Total on-grid electricity was 20,750,515MWh, representing an
    increase of 9.22% compared to Last year.

(2) Significant results of cost control measures
    In 2000, the Company continued to strengthen its cost
    controls measures and its budget management. The Company also
    focused on project cost control by formulating detailed rules
    in respect of items such as project implementation, design,
    supervision and equipment tender.

    By focusing on increasing revenues and reducing expenditures,
    the Company strengthened unit fuel cost control and
    implemented measures to procure equipment with quality
    consistent with price levels. Coal consumption rate for
    electricity generation was reduced through technological
    upgrades of the Company's equipment, thus further
    consolidated the trend of ongoing reduction of unit fuel
    cost. The average coal consumption rate for electricity
    generation in 2000 was 365.24g/MWh, representing a decrease
    of 3.26g/MWh compared to Last year. The unit fuel cost was
    RMB81.64/MWh, representing a decrease of RMB6.25/MWh compared
    to Last year.

(3) More acquisitions and smooth progress of new projects
    In 2000, the Company completed the following projects:
    -the acquisition of Unit 2 of Zhang Jia Kou Power Plant
     ('Zhang Jia Kou Power Plant') with a total capacity of
     300MW;
    -the equity investment in North China Electric Power
     Research Institute Company Limited; and
    -the 90.43% equity investment in Hebei Huaze Hydropower
     Development Company Limited ('Huaze').

    The Board of Directors has also approved the acquisition of a
    60% equity interest in Shanxi Shentou Huajin Electric Power
    Company (Phase II of Shanxi Shentou No. 2 Power Plant). The
    related implementation work is currently underway.

    During the Year, the following construction projects of the
    Company also progressed smoothly:

    Unit 7 (300MW) of Zhang Jia Kou Power Plant Phase II, which is
    wholly owned by the Company, commenced commercial operation at
    the end of 2000. Civil construction work of Unit 8 has been
    completed and equipment installation is well underway. It is
    expected that Unit 8 will commence commercial operation in the
    second half of 2001.
   
    The construction of Panshan Power Plant Phase II, commenced in
    June 1999, has progressed smoothly. Civil construction work
    for the first unit has almost been completed and equipment
    installation is progressing smoothly. Commercial operation is
    expected to commence by the end of 2001. Panshan Power Plant
    was developed by Tianjin Datang Panshan Power Generation Co.
    Ltd. ('Panshan'), a subsidiary of the Company.
   
    The construction of Tuoketuo Power Plant Phase I started
    during the Year. The first unit is expected to commence
    operation in 2003. Tuoketuo Power Plant Phase I was developed
    by Inner Mongolia Datang Tuoketuo Power Generation Co. Ltd.
    ('Tuoketuo'), a subsidiary of the Company.
   
    Fengning Hydropower Project (2 x 10MW) of Huaze progressed
    smoothly during the Year and is expected to commence
    commercial operation by the end of 2001.
   
    The smooth progress of the above projects means that the power
    generation capacity of the Company will be further enhanced
    and the Company will be able to achieve and exceed its goal of
    owning 5,682MW installed capacity by 2002 as stated in its
    prospectus. This will contribute to the increase of the
    Company's operating results for 2001 and thereafter and
    enhance shareholders' return.

Future Prospects

China maintained steady economic growth in 2000 while national
power demand grew faster than expected. It is anticipated that the
economic growth of China will continue to increase in a steady
pace in 2001, thus benefiting the Company. Currently, the Company
has three coal-fired power generation projects (with installed
capacity of 3,600MW) and one hydropower project (with installed
capacity of 20MW) under construction, with total planned installed
capacity of 3,620MW. These units currently under construction are
expected to commence commercial operation on or before 2004,
bringing the total installed capacity of the Company to 6,588MW.
There are also three projects which are at the preliminary stage,
including the technology upgrade project to replace the small unit
by a larger unit of 300MW at Tangshan Power Plant ('Tangshan Power Plant'),
the construction of the power generating units
with installed capacity of 2 x 500MW at Shentou Power Plant
('Shentou Power Plant') Phase II and the construction of two
300MW power generation units at Yunnan Kaiyuan Power Plant.

The projects under construction and at the preliminary stage will
serve as the foundation for the Company's expansion and
development, so as to enhance the Company's competitive strengths
and profitability. In 2001, the Company will endeavour to realize
its respective annual targets in production, operation,
construction and cost effectiveness based on its established and
effective management. Capitalizing on the opportunity presented by
the nation's economic growth and the restructuring of the power
industry, the Company is looking to further accomplish its
achievements in the new century.

(1) Focusing on development strategies
    The Company will conduct market research of the power market
    and identify development opportunities across the nation,
    which will lay solid foundations for its growth and expansion
    throughout the reform process of the power industry.

    The Company will also study operational models for group
    companies in light of the rapid expansion of its businesses.
    It will seek to regulate the management of project companies
    to foster an unique management style. The Company will step
    up with business expansion to grow into a regional
    enterprise, capitalizing on opportunities brought by the
    government's initiative to separate the operation of power
    plants and power grids.

(2) Delivering quality in power projects
    The Company shall strive for excellence in its preliminary
    project and projects under construction by consistently
    applying process controls to ensure quality. For projects
    under construction, special emphasis will be placed on
    safety, quality and schedules to ensure that Unit 8 of Zhang
    Jia Kou Power Plant Phase II, Unit 3 of Panshan Power Plant
    Phase II and Units 1 & 2 of Fengning Hydropower project of
    Huaze will commence operation in 2001 as scheduled.

(3) Assuring production safety
    The Company will continue to strengthen fundamental safety
    management, maintain stability of equipment and develop a
    highly efficient production management system.

(4) Enhancing cost management
    Efforts will be made to enhance budget management, control
    the costs of projects in progress, improve operating sequence
    of generating units, lower operating costs, improve financial
    structures, improve operational returns of assets and
    generally uplift the Company's competitiveness.



Share Capital and Dividends

(1) Share Capital
    No shares were issued by the Company during the Year. As at
    31st December, 2000, the total share capital of the Company
    were RMB5,162,849,000, divided into 5,162,849,000 shares with
    a nominal value of RMB1 each.

(2) Substantial Shareholders
    During the Year, substantial shareholders holding more than
    10% of the Company's shares were as follows:

    Name of Shareholder      Class of     Number of      Percentage
                             Shares       Shares         of Shares
                                                         Capital
                                                         Held (%)

    North China Power Group  Domestic     1,828,768,200  35.43
    Company                  Shares              

    Beijing International    Domestic     671,792,400    13.01
    Power Development and    Shares                 
    Investment Company
     
    Hebei Construction       Domestic     671,792,400    13.01
    Investment Company       Shares                  
                                                       
    Tianjin Jinneng          Domestic     559,827,000    10.84
    Investment Company       Shares                  


(3) Dividends
    The Board of Directors has declared dividends for the Year of
    RMB0.10 per share. Dividends to be distributed to domestic
    shareholders will be declared and paid in RMB, while those to
    be distributed to foreign shareholders will be declared in
    RMB but paid in Hong Kong Dollars. Hong Kong Dollar exchange
    rate for the purpose of dividends payment shall be based on
    the average of the closing rates of the Hong Kong Dollar/RMB
    exchange rates quoted by the People's Bank of China on each
    business day within the week immediately prior to payment.
    The dividends will be distributed on 30th June, 2001.


Use of Proceeds

The H shares of the Company were listed on The Stock Exchange of
Hong Kong Limited and the London Stock Exchange on 21st March,
1997. The net proceeds raised were approximately RMB3,702 million.
As at 31st December, 2000, approximately RMB3,605 million had been
utilized as follows: approximately RMB1,383 million for the
acquisition of Unit 1 of Zhang Jia Kou Power Plant; approximately
RMB1,246 million for the development of Zhang Jia Kou Power Plant
Phase II, approximately RMB675 million for the investment in the
Panshan, approximately RMB301 million for the investment in the
Tuoketuo.

Significant Matters

(1) Disposal of Staff Quarters
    The Company and its subsidiaries have finalized a scheme for
    selling staff quarters to its staff in 1999. Under the
    scheme, the Company and its subsidiaries would provide
    housing benefits, which represented the difference between
    the net book value of the staff quarters sold and the
    proceeds collected from the employees, to its staff to enable
    them to buy staff quarters from the Company and its
    subsidiaries at preferential prices. The estimated housing
    benefits of approximately RMB365 million is expected to
    benefit the Company and its subsidiaries over 10 years which
    is the estimated remaining average service life of the
    relevant employees. Upon completion of the sales of staff
    quarters to the employees, the housing benefits incurred are
    recorded by offsetting against the accruals previously made
    and the remaining balance is recorded as a deferred asset to
    be amortised over the remaining average service life of the
    relevant employees.
    
(2) Mr. Zhai Ruoyu was appointed as the Company's non-executive
    director at the Extraordinary Shareholders' Meeting of the
    Company held in Beijing on 29th December, 2000.

(3) Annual Report
The annual report of the Company for the year ended 31st December,
2000 containing all the information required by paragraphs 45(1)
to 45(3) of Appendix 16 of the Listing Rules will subsequently be
published on The Stock Exchange of Hong Kong Limited's website
within 21 days from the date of this announcement.


Purchase, Sale and Redemption of Listed Securities of the Company

During the Year, the Company had not purchased, sold or redeemed
any of the its listed securities.


Code of Best Practice

During the Year, the Company had complied with the Code of Best
Practice set out in Appendix 14 of the Listing Rules of the Stock
Exchange of Hong Kong Limited.




                                             By Order of the Board
                                                        Zhai Ruoyu
                                                          Chairman
Beijing, 6th March, 2001