Financial Performance - The company's operating revenue for the first half of 2015 was CNY 65,305,472,046, a decrease of 9.53% compared to CNY 72,183,296,095 in the same period last year[19]. - Net profit attributable to shareholders increased by 19.48% to CNY 9,058,575,901, up from CNY 7,581,871,186 in the previous year[19]. - The net cash flow from operating activities rose by 33.19% to CNY 24,048,248,099, compared to CNY 18,056,149,251 in the same period last year[19]. - The basic earnings per share increased by 16.67% to CNY 0.63, compared to CNY 0.54 in the same period last year[20]. - The total comprehensive income increased by 25.72% year-on-year, primarily due to increased profitability of the company and its subsidiaries[23]. - Total profit reached CNY 14.79 billion, an increase of 14.66% compared to the previous year[33]. - The total comprehensive income for the first half of 2015 was RMB 12.32 billion, an increase of 25.5% from RMB 9.80 billion in the same period last year[83]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 296,405,410,994, a decrease of 1.49% from CNY 300,880,856,737 at the end of the previous year[19]. - The company's net assets attributable to shareholders decreased by 6.64% to CNY 70,013,430,475 from CNY 74,992,915,078 at the end of the previous year[19]. - The company's current assets decreased to RMB 32.33 billion from RMB 39.98 billion at the end of 2014, representing a decline of approximately 19.1%[79]. - As of June 30, 2015, the total liabilities of Huaneng International Power Co., Ltd. amounted to RMB 210.34 billion, a slight decrease from RMB 210.42 billion at the end of 2014[81]. - The company's current liabilities totaled RMB 120.44 billion, increasing from RMB 110.67 billion at the end of 2014[81]. - The company's total liabilities increased to RMB 174.99 billion as of June 30, 2015, from RMB 162.45 billion at the beginning of the year, reflecting a growth of 7.7%[92]. Investments and Dividends - The company distributed a total dividend of CNY 5,479,745,707 for the 2014 fiscal year, with CNY 3,990,000,000 paid out for A-shares on July 13, 2015[2]. - The company made external equity investments totaling CNY 567 million during the reporting period, representing an increase of CNY 402.64 million or 244.97% compared to the same period last year[42]. - The company distributed dividends totaling RMB 5.67 billion during the first half of 2015, compared to RMB 4.56 billion in the same period of 2014, representing an increase of 24.4%[90]. Operational Highlights - The company generated a total electricity output of 159.82 billion kWh, a year-on-year increase of 5.32%[36]. - The controllable installed capacity reached 80.42 million kW, with an equity capacity of 71.67 million kW as of June 30, 2015[36]. - Domestic revenue was CNY 59.81 billion, a decrease of 7.52%, while overseas revenue was CNY 5.14 billion, down 28.97%[41]. Financial Management - The company's financial liabilities (current portion) decreased by 60.05% compared to the end of the previous year, attributed to the recovery in fair value of fuel swap contracts[23]. - The company's tax payable decreased by 86.16% compared to the end of the previous year, mainly due to an increase in deductible input VAT[23]. - The company's capital reserve decreased by 40.21% compared to the end of the previous year, primarily due to the reduction of capital reserve from the merger of enterprises under common control[23]. Shareholder Information - The total number of shareholders reached 175,421 by the end of the reporting period, with 174,906 holding A shares and 393 holding H shares[68]. - Huaneng International Power Development Company holds 5,066,662,118 shares, representing 35.14% of total shares[69]. - China Huaneng Group Company decreased its holdings by 6,246,664 shares, holding 1,555,124,549 shares, which is 10.78%[69]. Governance and Compliance - The company has established a governance structure that ensures clear responsibilities and efficient management among the board, supervisory committee, and management team[65]. - No penalties or investigations were reported for directors, supervisors, or senior management during the reporting period[64]. - The company continues to fulfill its commitments to support the development of its listed subsidiaries[63].

| 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 5 | | 四、 | 附录 | 8 | 2015 年第一季度报告 2015 年第一季度报告 公司代码：600011 公司简称：华能国际 华能国际电力股份有限公司 2015 年第一季度报告 1 / 18 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人曹培玺、主管会计工作负责人周晖及会计机构负责人（会计主管人员）李英辉保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | 上年度末 | 本报告期末比上年度末增减(%) | | | --- | --- | --- | --- | --- | | | | （经重述） | | | | 总资产 | ...

Financial Performance - The company's operating revenue for 2014 was approximately RMB 125.41 billion, a decrease of 6.30% compared to RMB 133.83 billion in 2013[24]. - The net profit attributable to shareholders for 2014 was approximately RMB 10.55 billion, a slight increase of 0.24% from RMB 10.52 billion in 2013[24]. - The total assets of the company at the end of 2014 were approximately RMB 272.16 billion, representing a 4.57% increase from RMB 260.27 billion in 2013[24]. - The company's cash flow from operating activities for 2014 was approximately RMB 33.32 billion, a decrease of 17.20% compared to RMB 40.24 billion in 2013[24]. - The basic earnings per share for 2014 remained at RMB 0.75, unchanged from 2013[25]. - The weighted average return on equity for 2014 was 16.27%, a decrease of 1.60 percentage points from 17.87% in 2013[25]. - The net profit attributable to shareholders of the listed company for the current period is CNY 10,545,750,526, compared to CNY 10,520,133,720 in the previous period, reflecting a slight increase[27]. - The company recorded a government subsidy of CNY 900,371,082 in 2014, significantly higher than CNY 369,198,868 in 2013, indicating improved support from government policies[38]. - Non-operating income and expenses resulted in a total of CNY (28,036,170) in 2014, a substantial decrease from CNY (1,090,575,025) in 2013, suggesting better management of non-recurring items[39]. - The company reported a significant increase in available-for-sale financial assets, rising from CNY 1,627,777,620 to CNY 2,748,162,533, reflecting a strong investment performance[41]. Asset and Liability Management - The total liabilities from derivative financial liabilities increased from CNY 426,996,413 to CNY 1,482,239,339, indicating a rise in financial risk exposure[41]. - The company has recognized a deferred tax impact related to accounting standard differences, which may affect future financial results[36]. - The adjustments for previous years related to the accounting treatment of pre-collected electricity fees amounted to CNY 261,471,450, highlighting the impact of regulatory changes on financial reporting[28]. - The company’s long-term payables increased by 548.69% to 1,354,595,322, primarily due to financing lease activities[70]. - The company reported a reclassification of long-term equity investments, resulting in a decrease of RMB 1.53521469 billion in long-term equity investments and an increase in available-for-sale financial assets[118]. Operational Performance - Operating revenue decreased by 6.30% to CNY 125.41 billion compared to the previous year, primarily due to a decline in electricity sales[44][45]. - Operating costs fell by 8.61% to CNY 94.01 billion, contributing to improved cost management[44]. - The net cash flow from operating activities was CNY 33.32 billion, down 17.20% from the previous year, mainly due to reduced revenue[44][53]. - The company’s controllable power generation capacity reached 70,484 MW by the end of 2014, with a clean energy proportion of 12.08%[61]. - In 2014, the company's domestic power generation was 294.388 billion kWh, a year-on-year decrease of 7.27%[59]. Strategic Initiatives - The company plans to achieve a controlled installed power generation capacity of over 80 million kW by 2015, positioning itself as a leading international power generation company[81]. - The company aims to complete an annual power generation of 345 billion kWh in 2015, with an expected utilization hours of 4,460 hours for its units[82]. - The company is committed to optimizing its power source structure and actively developing clean energy projects, including wind and solar power[81]. - The company plans to maintain a cash dividend policy of distributing at least 50% of the annual net profit attributable to shareholders in cash, contingent on profitability and cash flow sufficiency[92]. - The company is facing risks related to the electricity market, including competition from newly operational hydropower and nuclear power plants, which may impact its power generation volume[85]. Governance and Compliance - The company has a strong governance structure, ensuring balanced decision-making and operational efficiency[72]. - The company has established a comprehensive internal control system with a scientific organizational structure, ensuring the authority, independence, and effectiveness of internal controls[190]. - The external auditor, KPMG Huazhen, issued an unqualified opinion on the effectiveness of internal controls related to financial reporting as of December 31, 2014[197]. - The company has implemented a series of information disclosure management measures to ensure compliance and reduce risks associated with information disclosure[171]. - The company held multiple shareholder meetings in 2014, including the annual meeting on June 26, where key reports and proposals were approved[173]. Human Resources and Compensation - The total number of employees in the parent company is 20,264, and in major subsidiaries, it is 17,473, resulting in a total of 37,737 employees[162]. - The company emphasizes a salary policy that links employee compensation to company performance and individual performance, ensuring a fair and efficient incentive mechanism[163]. - The total remuneration paid to the board members during the reporting period amounted to 1,050.64 million yuan, with 457.62 million yuan received from shareholders[146]. - The company has established a series of compensation management systems to create effective incentive and restraint mechanisms[156]. - The company has seen a stable leadership structure with many directors serving since 2010 or earlier[155].

2014 年第三季度报告 华能国际电力股份有限公司 2014 年第三季度报告 1 / 21 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司主要财务数据和股东变化 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 2014 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员应当保证季度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 单位：元 币种：人民币 | | 本报告期末 | | 上年度末 | 本报告期末比上年度末增 | | | --- | --- | --- | --- | --- | --- | | | | | | 减(%) | | | 总资产 | 261,839,336,095.00 | | 260,274,853,102.00 | 0.60 | | | 归属于上市公司 | 66,794,158,448.00 | ...

Financial Performance - The company's operating revenue for the first half of 2014 was CNY 64.61 billion, an increase of 0.85% compared to the same period last year[16]. - Net profit attributable to shareholders for the first half of 2014 was CNY 6.70 billion, representing a 13.70% increase year-on-year[16]. - Basic earnings per share for the first half of 2014 was CNY 0.48, up 14.29% from CNY 0.42 in the same period last year[15]. - Total profit for the period was 11.430 billion RMB, representing a growth of 21.44% year-on-year[28]. - The total comprehensive income increased by 29.11% year-on-year, driven by higher profits from subsidiaries[17]. - The company's net profit for the first half of 2014 was RMB 5.89 billion, compared to RMB 6.12 billion in the same period of 2013[80]. - The net profit for the six months ended June 30, 2014, was RMB 6.70 billion, compared to RMB 5.20 billion for the same period in 2013, representing an increase of approximately 28.7%[84]. Assets and Liabilities - The company's total assets as of June 30, 2014, were CNY 263.65 billion, a 1.30% increase from the end of the previous year[16]. - The company's total liabilities as of June 30, 2014, were RMB 186.19 billion, a marginal decrease from RMB 186.23 billion at the end of 2013[74]. - The company's net assets attributable to shareholders at the end of the period were 63.569 billion RMB, up from 61.748 billion RMB at the beginning of the period[18]. - The company's total current liabilities amounted to RMB 100.70 billion as of June 30, 2014, compared to RMB 97.18 billion at the end of 2013[74]. - The company's long-term payables increased by 431.43% compared to the beginning of the period, attributed to financing lease activities[15]. Cash Flow - The net cash flow from operating activities decreased by 21.05% to CNY 16.25 billion compared to the same period last year[16]. - The net cash flow from operating activities for the first half of 2014 was RMB 16.25 billion, a decrease of 21.4% compared to RMB 20.58 billion in the same period of 2013[76]. - Cash outflow for purchasing goods and services increased to RMB 46.70 billion, up 6.2% from RMB 43.99 billion in the previous year[76]. - The cash balance at the end of the period was RMB 11.66 billion, down from RMB 15.62 billion at the end of June 2013[78]. Investments and Expenditures - The company's investment income increased by 59.19% year-on-year, primarily due to higher returns from joint ventures and associates[17]. - The company reported a total investment of 2,618,869,597 RMB in other listed companies, with a total book value of 6,909,300,709 RMB at the end of the reporting period[44]. - The company has a projected total procurement amount of 26 billion RMB for auxiliary equipment and products in 2014, with 2 billion RMB actually incurred in the first half of the year[49]. - The company expects to spend 441 billion RMB on coal and transportation in 2014, with 82.35 billion RMB incurred in the first half of the year[49]. Shareholder Information - The total number of shareholders at the end of the reporting period is 105,224, with 104,674 being A-share holders[62]. - The largest shareholder, Huaneng International Power Development Company, holds 36.05% of shares, totaling 5,066,662,118 shares[62]. - The company plans to distribute a total dividend of 5,341,045,707 RMB for the 2013 fiscal year, with 3,990,000,000 RMB already distributed for A shares[47]. Compliance and Governance - The company is committed to maintaining compliance with the accounting standards set by the Ministry of Finance of the People's Republic of China[91]. - The company has not received any notifications regarding penalties or investigations of its directors, supervisors, or senior management during the reporting period[56]. - Huaneng Group has made long-term commitments to avoid competition with Huaneng International in power development projects[53]. Operational Highlights - In the first half of 2014, the company generated a total electricity output of 151.739 billion kWh, an increase of 1.51% year-on-year, achieving 47% of the annual target of 325 billion kWh[29]. - The company's controllable installed capacity reached 66,888 MW by June 30, 2014, with a clean energy proportion of 9.34%[29]. - The company has a competitive advantage with a controllable installed capacity of nearly 67,000 MW, ranking first among comparable companies in the domestic industry[35]. Financial Management - The company recognizes gains or losses from the disposal of financial assets in the profit and loss statement, reflecting the difference between the carrying amount and the consideration received[108]. - The company assesses financial assets for impairment at the balance sheet date and recognizes impairment losses when objective evidence indicates a decline in value[107]. - The company employs a perpetual inventory system for its stock management[113]. Foreign Operations - The company's overseas revenue was CNY 7.239 billion, reflecting a decrease of 2.80% year-on-year, while domestic revenue increased by 2.06% to CNY 57.153 billion[34]. - The average exchange rate for the Singapore subsidiary was 4.9744 RMB per Singapore dollar as of June 30, 2014, compared to 4.7845 RMB per Singapore dollar as of December 31, 2013[189].

华能国际电力股份有限公司 600011 | 一、 | 重要提示 3 | | --- | --- | | 二、 | 公司主要财务数据和股东变化 4 | | 三、 | 重要事项 7 | | 四、 | 附录 10 | 600011 华能国际电力股份有限公司 2014 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 | 公司负责人姓名 | 曹培玺 | | --- | --- | | 主管会计工作负责人姓名 | 周晖 | | 会计机构负责人（会计主管人员）姓名 | 黄历新 | 公司负责人曹培玺、主管会计工作负责人周晖及会计机构负责人（会计主管人员）黄历 新保证季度报告中财务报表的真实、准确、完整。 1.4 公司第一季度报告中的财务报表未经审计。 2014 年第一季度报告 | | | 2.2 截至报告期末的股东总数、前十名股东、前十名无限售条件股东的持股情况表 3 600011 华能国际电力股份有限公司 2014 年第一季度报 ...

Financial Performance - The company's operating revenue for 2013 was approximately RMB 133.83 billion, a slight decrease of 0.10% compared to 2012[20]. - Net profit attributable to shareholders for 2013 reached RMB 10.52 billion, representing a significant increase of 79.26% year-on-year[20]. - The net profit excluding non-recurring gains and losses was RMB 11.61 billion, up 99.32% from the previous year[20]. - Cash flow from operating activities for 2013 was RMB 40.24 billion, an increase of 49.43% compared to 2012[20]. - Basic earnings per share for 2013 increased by 78.57% to CNY 0.75 compared to CNY 0.42 in 2012[21]. - Diluted earnings per share for 2013 also rose by 78.57% to CNY 0.75 from CNY 0.42 in 2012[21]. - The weighted average return on equity increased by 6.76 percentage points to 17.87% in 2013 from 11.11% in 2012[21]. - The total comprehensive income for 2013 was RMB 12.60 billion, compared to RMB 7.19 billion in 2012, an increase of 75.5%[191]. - The company reported a net profit of RMB 10 billion for 2013, up 12% compared to the previous year[135]. Assets and Liabilities - Total assets at the end of 2013 amounted to RMB 260.27 billion, reflecting a 1.33% increase from the previous year[20]. - The company's total liabilities as of December 31, 2013, were RMB 226.75 billion, compared to RMB 221.72 billion in 2012, indicating a growth of about 2.4%[187]. - The company's long-term equity investments increased to RMB 17.95 billion in 2013 from RMB 15.65 billion in 2012, reflecting a growth of approximately 14.7%[187]. - The company's inventory decreased to RMB 6.47 billion in 2013 from RMB 7.02 billion in 2012, a reduction of about 7.8%[187]. - The total equity attributable to shareholders increased to RMB 74,044,618,570 by the end of 2013, up from RMB 64,918,240,338 at the beginning of the year, reflecting a growth of approximately 14.5%[199]. Dividends and Shareholder Returns - The proposed dividend for 2013 is RMB 0.38 per share, totaling approximately RMB 534.11 million for all ordinary shares[3]. - In 2013, the company distributed a total of 5.34 billion RMB in cash dividends, representing 50.77% of the net profit attributable to shareholders[91]. - The company’s cash dividend policy stipulates that at least 50% of the distributable profit will be distributed in cash if the company is profitable and has positive retained earnings[88]. Operational Efficiency and Costs - The operating costs decreased by 8.27% to CNY 102.87 billion from CNY 112.14 billion in the previous year[36]. - The company’s financial expenses decreased by 15.37% to CNY 7.52 billion from CNY 8.89 billion in the previous year[36]. - The cash outflow for purchasing goods and services decreased to RMB 89.76 billion in 2013 from RMB 110.03 billion in 2012, indicating a reduction of 16.4%[193]. - The company has implemented cost-cutting measures that are projected to save RMB 1 billion annually[135]. Strategic Focus and Future Plans - The company plans to achieve a controllable installed capacity of 80,000 MW by 2015, focusing on clean energy and technological advancements[44]. - The company plans to enhance its international operations, particularly in Singapore, to strengthen its market share and competitiveness[78]. - The company plans to increase investment in clean energy and high-efficiency thermal power units to meet stricter environmental regulations set by the government[85]. - Huaneng International Power plans to expand its renewable energy portfolio, targeting a 20% increase in renewable capacity by 2015[138]. - The company is investing RMB 5 billion in new technology development for cleaner energy production[138]. Risk Management and Governance - The company emphasizes risk management and will focus on market changes in electricity, coal, and environmental policies in 2014[10]. - The audit report for the financial statements was issued by KPMG with a standard unqualified opinion[3]. - The company has implemented a comprehensive internal control system to ensure compliance, asset security, and the authenticity of financial reports, in accordance with various regulatory requirements[165]. - KPMG issued a standard unqualified audit opinion on the effectiveness of internal controls related to financial reporting[174]. Shareholder Structure and Corporate Governance - The largest shareholder, China Huaneng Group Company, held 36.05% of the shares, totaling 5,066,662,118 shares[115]. - The company has maintained independence from its controlling shareholder in business, personnel, assets, organization, and finance, ensuring a sound organizational structure and clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[160]. - Huaneng International Power achieved significant improvements in corporate governance, establishing a clear structure among the shareholders' meeting, board of directors, supervisory board, and management team[151]. Employee and Management Structure - The total number of employees in the parent company is 20,387, while the total number of employees in major subsidiaries is 17,342, resulting in a combined total of 37,729 employees[146]. - The company emphasizes a salary distribution system based on "position-based pay, performance-based compensation, efficiency priority, and fairness" linked to operational performance and individual performance[146]. - The current management team includes key personnel such as Cao Peixi, who has been the General Manager of China Huaneng Group since June 2008, and Li Shiqi, the General Manager of Huaneng International Power Development Company since November 2010[139].