2015 年第三季度报告 公司代码：600726 900937 公司简称：华电能源 华电 B 股 华电能源股份有限公司 2015 年第三季度报告 1 / 20 | 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 | 5 | | 四、 | 附录 | 8 | 2015 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。 1.3 公司负责人霍利、主管会计工作负责人张利及会计机构负责人（会计主管人员）李西金保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司主要财务数据和股东变化 2.1 主要财务数据 3 / 20 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 23,507,303,368.70 23,815,689, ...

Financial Performance - The company's operating revenue for the first half of 2015 was approximately CNY 4.35 billion, a decrease of 11.92% compared to the same period last year[17]. - The net profit attributable to shareholders for the first half of 2015 was approximately CNY 240.88 million, down 9.04% year-on-year[17]. - The total power generation for the first half of 2015 was 11.137 billion kilowatt-hours, a decline of 9.13% year-on-year[24]. - The on-grid electricity volume was 10.064 billion kilowatt-hours, down 9.23% compared to the previous year[24]. - The cash flow from operating activities decreased by 42.99% to approximately CNY 1.01 billion, primarily due to a reduction in main business income[19]. - The basic earnings per share for the first half of 2015 were CNY 0.12, a decrease of 10.91% from the same period last year[18]. - The company reported a net loss of ¥333,454,779.09, an improvement from a loss of ¥574,337,597.01 in the previous period[89]. - The total comprehensive income for the first half of 2015 was ¥158.58 million, down from ¥228.65 million in the same period last year[99]. Assets and Liabilities - The total assets at the end of the reporting period were approximately CNY 23.49 billion, a decrease of 1.36% from the previous year-end[17]. - Total liabilities decreased to ¥19,336,661,920.17 from ¥19,954,606,871.60, a reduction of about 3.1%[89]. - Total non-current assets decreased to ¥18,558,872,478.33 from ¥18,960,869,053.91, a decline of about 2.1%[88]. - The company's total equity increased to CNY 3,257,685,519.47 from CNY 3,099,110,435.56, reflecting a growth of 5.1%[93]. Production and Sales - The installed capacity of the company reached 6.15 million kilowatts, with an equity capacity of 5.77 million kilowatts as of June 30, 2015[24]. - The company completed coal production of 534,000 tons and coal sales of 464,000 tons during the reporting period[24]. - The coal production reached 534,000 tons, with sales of 463,800 tons, but the annual production target was adjusted from 1.8 million tons to 950,000 tons due to a depressed coal market[30]. Cash Flow and Financing - The net cash flow from operating activities decreased by 42.99% to ¥1,008,579,266.37 compared to the same period last year, primarily due to a reduction in main business revenue[26]. - The net cash flow from financing activities improved by 84.08%, reaching -¥428,736,933.51, mainly due to a decrease in loan repayments during the reporting period[26]. - Cash and cash equivalents rose to ¥1,036,826,813.43, up from ¥883,676,662.97, marking an increase of about 17.3%[87]. Shareholder Information - The total number of shares outstanding is 1,966,675,153, with 58.61% being unrestricted circulating shares[71]. - China Huadian Group Company holds 881,126,465 shares, representing 44.80% of the total shares[77]. - The total number of shareholders as of the end of the reporting period is 269,001, with 197,740 A-share shareholders and 71,261 B-share shareholders[76]. Corporate Governance - The board of directors consists of 9 members, including 3 independent directors, ensuring compliance with governance standards[65]. - The company maintains complete independence from its controlling shareholder in terms of personnel, assets, finance, and operations[66]. - The company continues to employ Lixin Certified Public Accountants for annual reports and internal control audits[64]. Strategic Initiatives - The company’s core business has expanded into a "four-in-one" industry structure, integrating power generation, heating, coal, and engineering[38]. - The company plans to continue providing entrusted loans of ¥128 million to Heilongjiang Fuda Investment Co., Ltd. for coal resource exploration projects, pending the establishment of a guarantee[43]. Accounting Policies - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the company's financial position, operating results, and cash flows accurately[125]. - The company adopts RMB as its functional currency for accounting purposes[127]. - The company has established specific accounting policies and estimates based on its actual production and operational characteristics[124]. Taxation - The company reported a value-added tax rate of 13% and 17% based on taxable sales and services[200]. - The corporate income tax is charged at rates of 15% and 25% on taxable income[200].

Financial Performance - The total operating revenue for 2014 was CNY 9,829,383,541.64, a decrease of 3.99% compared to CNY 10,237,921,991.49 in 2013[25] - The net profit attributable to shareholders of the listed company was CNY 147,103,017.41, a significant increase of 932.20% from CNY 14,251,366.18 in 2013[25] - The net cash flow from operating activities was CNY 2,550,771,988.23, representing a 10.81% increase from CNY 2,301,920,870.03 in 2013[25] - The total assets at the end of 2014 were CNY 23,815,689,052.37, an increase of 1.13% from CNY 23,548,414,921.22 at the end of 2013[25] - The net assets attributable to shareholders of the listed company increased by 5.21% to CNY 3,131,188,450.75 from CNY 2,976,095,319.79 in 2013[25] - Basic earnings per share for 2014 were CNY 0.07, up 872.22% from CNY 0.0072 in 2013[26] - The weighted average return on net assets increased by 4.34 percentage points to 4.82% in 2014 from 0.48% in 2013[26] - The company achieved a main business revenue of CNY 9.829 billion, completing 80.90% of the board's target of CNY 12.149 billion, and a 3.99% decrease from CNY 10.238 billion in 2013[29][33] - Net profit for 2014 was CNY 147.103 million, a significant increase of 932.20% compared to CNY 14.251 million in 2013[32] Cash Flow and Investments - The company’s operating cash flow net amount was CNY 2.551 billion, reflecting a 10.81% increase from CNY 2.302 billion in the previous year[31] - The company’s investment activities generated a net cash flow of -CNY 2.662 billion, a 125.68% increase in outflow compared to -CNY 1.179 billion in 2013[32] - Cash outflow from investment activities was ¥2.662 billion, a year-on-year increase of 125.68% due to increased investment projects[46] - Cash outflow from financing activities was ¥1.345 billion, a year-on-year increase of 27.25% due to reduced cash from loans and bond issuance[46] - The net cash flow from financing activities was -¥971,426,359.26, compared to -¥514,817,943.70 in the previous year, indicating a decline in financing activities[182] Operational Efficiency - The company’s total electricity generation was 24.757 billion kWh, a decrease of 4.27% year-on-year, primarily due to slow regional electricity demand growth[29] - The company’s research and development expenses decreased by 43.88% to CNY 18.205 million from CNY 32.439 million in 2013[32] - The company’s sales expenses decreased by 18.14%, attributed to reduced coal sales from mining enterprises[43] - The company’s financial expenses decreased by 5.27% to CNY 905.126 million from CNY 955.501 million in the previous year[31] - The company reported an operating profit of CNY 143,910,003.55, a notable increase from CNY 25,924,757.40 in 2013[171] Assets and Liabilities - The company reported a total of 1,966,675,153 shares outstanding, with 41.39% being restricted shares and 58.61% being unrestricted shares[106] - The total assets as of the end of 2014 amounted to CNY 18,025,533,953.96, slightly up from CNY 17,992,197,119.98 in the previous year[169] - Total liabilities decreased to CNY 14,943,006,762.74 from CNY 15,042,646,887.75 in 2013, indicating a reduction of approximately 0.66%[169] - The company's total equity increased to CNY 3,082,527,191.22 from CNY 2,949,550,232.23, representing a growth of 4.48%[169] - The company’s total liabilities to equity ratio was approximately 5.4, indicating a high level of leverage[165] Strategic Initiatives - The company plans to expand its business in response to the new energy revolution and stricter environmental regulations[73] - The company aims to enhance market efficiency by optimizing electricity management and increasing coal sales capabilities[76] - The company is focusing on technological innovation to drive sustainable internal growth and improve operational efficiency[77] - The company is actively pursuing geothermal development and exploring the feasibility of electricity sales business[75] - The company plans to invest in a 1×116MW hot water boiler technical renovation project at its subsidiary, Heilongjiang Huadian Qiqihar Thermal Power Co., Ltd.[103] Environmental and Safety Measures - The company has implemented significant environmental upgrades, including the installation of CEMS devices on all 35 thermal power units to monitor emissions[86] - The company achieved a total reduction of 10,800 tons in sulfur dioxide emissions, bringing the total to 38,600 tons in 2014, and a reduction of 2,820 tons in nitrogen oxides, totaling 86,700 tons[86] - The company is committed to strengthening safety management and environmental protection measures in its operations[77] Governance and Compliance - The company has maintained a robust internal control system, with an audit report confirming the effectiveness of its internal controls[142] - The company has not faced any major lawsuits or bankruptcy restructuring during the reporting period[88] - The company has not faced any penalties or criticisms from regulatory bodies during the reporting period[96] - The company has engaged in significant related party transactions, including cooperation with China Huadian Engineering Group Co., Ltd. for major technical renovation projects[90] Human Resources - The total number of employees in the parent company is 9,083, while the total number of employees in major subsidiaries is 3,913, resulting in a combined total of 12,996 employees[134] - The company trained a total of 11,805 employees during the year, achieving a training participation rate of 81.4%[135] - The company has established a performance-based salary system for its senior management, linking compensation to annual performance evaluations[135] Future Outlook - The company anticipates that the economic growth in Heilongjiang Province will remain at a low-speed operation state in the near future[72] - The company plans to focus on improving its financial position and exploring new financing strategies in the upcoming year[186] - The company aims to achieve a "1181" strategic goal by 2020, targeting a comprehensive strength at an international first-class level[118]

Financial Performance - Revenue for the reporting period was CNY 2,824,861,743.76, down 1.59% from CNY 2,870,620,739.18 year-on-year[6]. - Net profit attributable to shareholders of the listed company increased by 22.12% to CNY 360,672,461.11 from CNY 295,340,970.53 in the previous year[6]. - Basic earnings per share rose by 20.00% to CNY 0.18 from CNY 0.15[6]. - Operating profit for Q1 2015 increased to ¥435,539,965.52, up 28.0% from ¥340,272,844.88 in Q1 2014[31]. - Net profit for Q1 2015 was ¥429,412,736.70, representing a 24.2% increase compared to ¥345,645,377.01 in the previous year[32]. - Earnings per share for Q1 2015 were ¥0.18, compared to ¥0.15 in Q1 2014, reflecting a growth of 20%[32]. - Operating revenue for the current period reached ¥1,809,226,752.24, a slight increase from ¥1,804,464,151.75 in the previous period, representing a growth of approximately 0.04%[33]. - Operating profit increased to ¥209,555,313.92, up from ¥155,732,945.10, reflecting a growth of about 34.5%[33]. - Net profit for the current period was ¥221,218,620.61, compared to ¥186,719,621.76 in the previous period, indicating an increase of approximately 18.5%[34]. - Total comprehensive income for the current period was ¥221,218,620.61, compared to ¥186,719,621.76 in the previous period, reflecting an increase of about 18.5%[34]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 23,793,215,599.20, a decrease of 0.09% compared to the end of the previous year[6]. - Current assets totaled ¥5,091,271,577.47, up from ¥4,854,819,998.46 at the beginning of the year[21]. - Total liabilities decreased to ¥19,560,007,032.70 from ¥20,013,201,001.60[23]. - Total assets as of the end of Q1 2015 amounted to ¥18,092,404,694.19, slightly up from ¥18,025,533,953.96 at the end of the previous year[27]. - Total liabilities for Q1 2015 were ¥14,788,658,882.36, a decrease of 1.0% from ¥14,943,006,762.74 in the previous year[27]. - Current assets totaled ¥3,647,486,278.50, an increase of 6.9% from ¥3,410,547,508.57 in the same period last year[26]. - Non-current assets decreased to ¥14,444,918,415.69 from ¥14,614,986,445.39, a decline of 1.2% year-over-year[26]. - The company reported a decrease in inventory to ¥298,262,249.93, down 11% from ¥334,649,190.42 in the previous year[26]. Cash Flow - Operating cash flow net amount decreased by 20.59% to CNY 694,903,791.85 compared to CNY 875,057,036.87 in the same period last year[6]. - Cash flow from operating activities generated a net amount of ¥694,903,791.85, down from ¥875,057,036.87, a decrease of about 20.6%[36]. - Cash flow from investing activities resulted in a net outflow of ¥237,541,171.02, compared to a net outflow of ¥356,928,489.10 in the previous period, showing an improvement of approximately 33.4%[37]. - Cash flow from financing activities recorded a net outflow of ¥221,328,710.26, slightly worse than the previous period's outflow of ¥214,826,282.61[37]. - The cash and cash equivalents at the end of the period totaled ¥1,119,710,573.54, down from ¥2,642,563,511.23, a decrease of approximately 57.6%[37]. - The company reported a decrease in sales cash receipts from ¥3,121,250,361.70 to ¥2,866,385,624.02, a decline of about 8.2%[36]. - Net cash flow from operating activities was $124.16 million, a decrease of 80% compared to $624.73 million in the previous quarter[40]. - Total cash inflow from financing activities was $1.1 billion, an increase from $1 billion in the previous quarter[40]. - Cash outflow from financing activities totaled $1.01 billion, down from $1.24 billion in the previous quarter[40]. - The net increase in cash and cash equivalents was $20.45 million, compared to $79.69 million in the previous quarter[40]. - Cash outflow from investing activities was $191.94 million, a decrease from $306.46 million in the previous quarter[40]. - Cash flow from operating activities totaled $1.82 billion, compared to $1.99 billion in the previous quarter[40]. Shareholder Information - The total number of shareholders at the end of the quarter was 205,822, with 135,796 holding A shares and 70,026 holding B shares[11]. - Minority shareholders' profit increased by 36.65% to ¥68,740,275.59 from ¥50,304,406.48, attributed to increased profits from controlling enterprises[17]. Investments and Acquisitions - The company is in the process of acquiring 80% of Youbang Company and has received approval for a non-public issuance of shares to acquire 51% of Liaoning Huadian Tieling Power Co., Ltd.[18]. - The company reported a significant decrease in prepayments by 90.59%, from CNY 412,269,766.95 to CNY 38,799,846.70, due to the conversion of prepaid heating fees into revenue[13][16]. - The company experienced a 34.78% increase in engineering materials, attributed to the commencement of infrastructure projects during the reporting period[16]. - The company’s undistributed profits increased by 56.98%, primarily due to profitability during the reporting period[16]. - Investment income decreased by 86.84% to ¥167,821.71 from ¥1,275,482.70 due to undistributed dividends from associated companies[17]. - Non-operating expenses increased significantly by 10,771.29% to ¥7,065,055.75 from ¥64,988.19, primarily due to late payment penalties[17].

Financial Performance - Operating revenue for the first nine months decreased by 1.70% to CNY 6,862,352,238.20 compared to the same period last year[8] - Net profit attributable to shareholders was CNY 190,916,246.46, a significant recovery from a loss of CNY 183,962,672.74 in the previous year[8] - Net profit surged by 180.68% to CNY 170,896,343.15, attributed to improved operational efficiency and cost reduction efforts[19] - The company’s total profit increased by 218.41% to CNY 215,288,211.17, due to efforts in co-firing lignite and cost-saving measures[19] - Total operating revenue for Q3 2014 was approximately CNY 1.93 billion, a slight increase from CNY 1.92 billion in Q3 2013[38] - The net loss for Q3 2014 was approximately CNY 129.40 million, compared to a net loss of CNY 219.74 million in the same period last year[41] - The company reported a total profit of approximately -CNY 116.19 million for Q3 2014, an improvement from -CNY 217.55 million in Q3 2013[41] - The company’s total comprehensive loss for Q3 2014 was approximately CNY 129.40 million, compared to a loss of CNY 219.74 million in Q3 2013[41] Cash Flow and Liquidity - Net cash flow from operating activities increased by 7.21% to CNY 1,842,045,546.63 for the first nine months[8] - Cash flow from operating activities for the first nine months of 2014 was approximately CNY 5,640,474,679.89, a decrease of 8.1% from CNY 6,136,468,612.80 in the same period of 2013[50] - Net cash flow from operating activities for Q3 2014 was CNY 1,842,045,546.63, up 7.2% from CNY 1,718,235,413.49 in Q3 2013[47] - Total cash and cash equivalents at the end of Q3 2014 were CNY 823,116,312.89, down from CNY 2,178,920,070.98 at the end of Q3 2013[48] - Cash inflow from financing activities in Q3 2014 was CNY 4,377,572,221.00, a decrease of 44.5% from CNY 7,937,565,925.91 in Q3 2013[48] - Cash outflow for debt repayment in Q3 2014 was CNY 6,291,318,479.57, down 23.3% from CNY 8,202,561,525.84 in Q3 2013[48] Assets and Liabilities - Total assets decreased by 6.37% to CNY 22,047,951,923.08 compared to the end of the previous year[8] - Cash and cash equivalents decreased by 64.81% to CNY 823,116,312.89 compared to the beginning of the year[15] - Accounts receivable decreased by 55.25% to CNY 156,777,742.19 compared to the beginning of the year[15] - Total current assets decreased from ¥4,849,099,494.36 to ¥3,898,319,269.72, a decline of approximately 19.6%[31] - Total liabilities decreased from ¥19,968,802,350.32 to ¥18,297,742,868.02, a reduction of about 8.4%[33] - The company's total equity increased from ¥3,579,612,570.90 to ¥3,750,209,055.06, an increase of about 4.8%[33] Shareholder Information - The total number of shareholders reached 211,236, with 139,843 holding A shares and 71,393 holding B shares[14] - The largest shareholder, China Huadian Group, holds 44.80% of the shares[12] Investments and Projects - Investment income rose by 45.76% to CNY 9,347,632.54, mainly from increased dividends from Huadian Coal Industry Group[17] - The company plans to invest in a 116MW hot water boiler renovation project at its subsidiary, Huadian Qiqihar Thermal Power Co., Ltd.[20] - The company is acquiring a 51% stake in Liaoning Huadian Tieling Power Co., Ltd., enhancing its market position[21] Operational Efficiency - The weighted average return on net assets improved to 6.22% from -6.38% year-on-year[9] - Basic and diluted earnings per share were both CNY 0.10, recovering from a loss of CNY 0.09 per share in the previous year[9] - Management expenses decreased to approximately CNY 23.24 million in Q3 2014 from CNY 42.63 million in Q3 2013[38] Inventory and Receivables - Accounts receivable increased by 49.39% to CNY 1,478,761,285.52, primarily due to a decrease in recourse factoring loans[16] - Other receivables grew by 108.90% to CNY 146,699,256.88, primarily due to increased receivables from Yiyang Group[16] - Inventory rose from ¥586,114,847.93 to ¥758,791,369.64, an increase of approximately 29.3%[31]

Financial Performance - The company's operating revenue for the first half of 2014 was CNY 4,933,655,278.57, a decrease of 2.50% compared to the same period last year[19]. - The net profit attributable to shareholders was CNY 264,834,430.38, a significant recovery from a loss of CNY 7,647,304.31 in the previous year[19]. - The net cash flow from operating activities increased by 48.65% to CNY 1,769,210,047.23 compared to CNY 1,190,171,731.22 in the same period last year[19]. - Operating revenue decreased by 2.50% to CNY 4,933,655,278.57 compared to the same period last year[24]. - Net profit surged by 3,690.54% to CNY 300,292,047.88, attributed to efforts in blending lignite and cost-saving measures[26]. - The company reported a net profit of 93.42 million RMB for the first half of 2014[41]. - The company predicts that the net profit attributable to shareholders for the year will be profitable compared to the same period last year[47]. - The company reported a net profit of CNY 264,834,430.38 for the first half of 2014, compared to CNY 300,292,047.88 in the previous year, reflecting a decrease of 12%[90]. Operational Efficiency - The company implemented cost control measures, achieving a reduction in fuel costs by CNY 259 million through strategies such as blending lignite[23]. - The company plans to enhance operational efficiency by optimizing power generation and reducing investment in various projects by 10% to 20%[23]. - Operating costs decreased by 8.57% to CNY 4,071,522,796.42, leading to improved cost efficiency[24]. - The company aims to strengthen its marketing efforts to secure a favorable annual power generation plan[23]. Production and Capacity - The total installed capacity of the company reached 6.15 million kilowatts, with an equity capacity of 5.7673 million kilowatts as of June 30, 2014[22]. - The total power generation for the first half of 2014 was 12.256 billion kWh, a decrease of 7.6% year-on-year, while the on-grid electricity was 11.087 billion kWh, down 8%[22]. - The company produced 71.7 million tons of coal during the reporting period[22]. - The coal production reached 71.7 million tons, accounting for 29.27% of the annual target, impacted by a sluggish domestic coal market[30]. Financial Position - Total assets decreased from RMB 23,548,414,921.22 at the beginning of the year to RMB 22,352,172,223.97 by June 30, 2014, representing a decline of approximately 5.1%[68]. - Cash and cash equivalents dropped from RMB 2,339,261,246.07 to RMB 1,026,497,059.91, a decrease of about 56.1%[68]. - Accounts receivable increased significantly from RMB 989,878,164.53 to RMB 1,605,393,236.71, marking a rise of approximately 62.1%[68]. - Total liabilities decreased from CNY 19.97 billion to CNY 18.47 billion, a reduction of approximately 7.5%[69]. - The total equity attributable to shareholders increased from CNY 2.98 billion to CNY 3.25 billion, an increase of approximately 9.0%[69]. Shareholder Information - The total number of shareholders reached 213,415, with 140,544 holding A shares and 72,871 holding B shares[57]. - China Huadian Group Company holds 44.80% of the shares, totaling 881,126,465 shares, with no changes during the reporting period[57]. - The company reported a total of 814,094,618 shares with limited sale conditions held by the controlling shareholder, pending the lifting of restrictions[60]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[60]. Governance and Compliance - The company has established a governance structure that includes a board of 13 members, with 3 independent directors, ensuring compliance with legal requirements[52]. - The company has maintained full independence from its controlling shareholder in terms of personnel, assets, finance, and operations[52]. - The company has not faced any administrative penalties or public reprimands from the China Securities Regulatory Commission during the reporting period[50]. - The company has implemented a management system for information disclosure to ensure timely and accurate reporting[53]. Investments and Financing - The company plans to engage in financing leasing with a maximum amount of CNY 800 million over five years, pending shareholder approval[29]. - The company’s long-term equity investments increased by 38.41% compared to the same period last year, mainly due to the disposal of investments in Huadian Financial Company[36]. - Investment income decreased by 63.24% to CNY 1,954,009.04, mainly due to last year's dividend from Huaxin Insurance[26]. Cash Flow and Liquidity - The net cash flow from operating activities for the first half of 2014 was CNY 1,525,443,217.77, an increase of 102% compared to CNY 753,968,247.12 in the same period last year[87]. - Total cash and cash equivalents at the end of the period decreased to CNY 734,360,911.36 from CNY 1,684,187,831.72, representing a decline of 56%[87]. - The cash outflow from financing activities was CNY 3,390,970,189.35, up from CNY 3,191,842,444.62, indicating a 6% increase year-over-year[87]. Accounting Policies and Practices - The company continues to adhere to the accounting standards set by the Ministry of Finance, ensuring the accuracy and completeness of its financial statements[104][105]. - The company has not disclosed any significant changes in its accounting policies or estimates during the reporting period[103]. - The company recognizes cash and cash equivalents based on liquidity and risk criteria, ensuring they can be readily converted to known cash[117]. Inventory and Receivables - The total inventory balance is 685,701,108.00, with a provision for inventory depreciation of 1,967,535.01[199]. - The ending balance of accounts receivable is 1,754,127,539.85, with a bad debt provision of 148,734,303.14, representing 13.06%[184]. - The total amount of other receivables is 209,704,702.69, with a bad debt provision of 31,715,827.23, which is 15.12%[191].

Financial Performance - The total operating revenue for Huadian Energy in 2013 was CNY 10,237,921,991.49, a decrease of 5.88% compared to CNY 10,877,411,069.61 in 2012[21]. - The net profit attributable to shareholders of the listed company was CNY 14,251,366.18, a significant recovery from a loss of CNY 455,116,828.26 in 2012[21]. - The net cash flow from operating activities increased by 36.42% to CNY 2,301,920,870.03 from CNY 1,687,349,278.00 in the previous year[21]. - The total assets of the company at the end of 2013 were CNY 23,548,414,921.22, reflecting a 1.70% increase from CNY 23,155,090,993.22 in 2012[21]. - The company's net assets attributable to shareholders were CNY 2,976,095,319.79, showing a slight increase of 0.04% compared to CNY 2,974,847,456.31 in 2012[21]. - The basic earnings per share for 2013 were CNY 0.0072, recovering from a loss of CNY 0.2314 in 2012[21]. - The weighted average return on equity was 0.48%, an increase of 14.74 percentage points from -14.26% in the previous year[21]. - The company achieved operating revenue of CNY 10.238 billion in 2013, completing 82.56% of the board's target of CNY 12.401 billion, and a decrease of 5.88% from CNY 10.877 billion in 2012[25][27]. - Net profit for 2013 was CNY 14.251 million, a significant increase of 103.13% compared to a net loss of CNY 455.116 million in the previous year[25][28]. Operational Highlights - The total power generation of the company's wholly-owned and controlled power plants was 25.862 billion kWh, a decrease of 11.6% year-on-year, primarily due to slow regional electricity demand growth and an oversupply of electricity[26]. - The company’s heating revenue reached CNY 1.34519 billion, an increase of CNY 52.35 million, mainly due to a 3.9 CNY/GJ increase in the heating price[28]. - The company’s operating cash flow net amount was CNY 2.302 billion, an increase of 36.42% from CNY 1.687 billion in the previous year[28]. - Research and development expenses totaled CNY 32.439 million, representing 0.91% of net assets and 0.32% of operating revenue[33]. - The top five customers accounted for 79.93% of the company's total operating revenue, with Heilongjiang Electric Power Co., Ltd. alone contributing 75.88%[30]. - The company’s main suppliers accounted for 68.86% of total procurement costs, with the top supplier, Harbin Railway Fuel Coal Industry Group Co., Ltd., contributing 20.72%[32]. Financial Position - The company's total liabilities increased by 47.99% for accounts payable, primarily due to increased fuel payments[38]. - The company issued medium-term bonds, resulting in a 100% increase in payable bonds to 2,360,262,777.78 CNY[38]. - The company's intangible assets grew by 30.44% to 1,093,941,407.65 CNY, mainly due to the purchase of capacity from decommissioned units[38]. - The company reported a net profit of 1,715 million RMB for the year, with total assets amounting to 44,771 million RMB[46]. - The company’s total investment in non-fundraising projects during the reporting period was 686,868 million RMB[49]. Strategic Initiatives - The company aims to achieve a sales revenue of CNY 12.149 billion and a power generation of 24.925 billion kWh in the upcoming year[59]. - The company plans to reduce comprehensive power coal consumption to 327.43 grams/kWh and maintain a comprehensive plant electricity rate of 9.31%[59]. - The company is actively pursuing the exploration rights for the Fushun Hongsheng coalfield, aligning with its resource-driven strategy[53]. - The company is focusing on enhancing its management and operational efficiency to achieve profitability and reduce historical burdens[55]. - The company plans to strengthen its coal management and actively seek favorable policies to increase revenue and reduce costs[55]. Environmental Compliance - The total sulfur dioxide emissions for 2013 were 49,400 tons, a reduction of 8,600 tons compared to 2012, while nitrogen oxides emissions were 114,900 tons, down by 22,400 tons[69]. - The company has completed desulfurization upgrades on 8 units and denitrification upgrades on 5 units, enhancing its environmental compliance[68]. - The company has installed continuous emissions monitoring systems (CEMS) on all 35 thermal power units to ensure real-time emissions tracking[68]. Corporate Governance - The company has a board of 15 directors, including 5 independent directors, ensuring compliance with legal procedures and effective governance[113]. - The company has established a monitoring system for insider information, with no violations reported during the reporting period[114]. - The company held multiple shareholder meetings throughout 2013, with all proposed resolutions being passed[116]. - The independent directors did not raise any objections to the board resolutions or other matters during the reporting period[118]. Employee Management - The total number of employees in the parent company is 9,548, while the total number of employees in major subsidiaries is 5,359, resulting in a combined total of 14,907 employees[107]. - The employee training rate has reached over 80%, indicating a strong commitment to employee development[109]. - The company has implemented two salary policies: position salary point system and position skill salary system, linking employee compensation to job value and performance[107]. Financial Reporting - The financial statements include a consolidated balance sheet and income statement for the year ended December 31, 2013[128]. - The audit opinion confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2013, and its operating results for the year[126]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that financial statements reflect the true financial condition and operating results[165].

Financial Performance - Net profit attributable to shareholders increased by 181.24% to CNY 295,340,970.53 compared to the same period last year[9] - Total profit for the current period increased by 136.78% to CNY 371,397,117.44 compared to CNY 156,855,212.19 in the previous period[16] - Net profit rose by 152.21% to CNY 345,645,377.01 from CNY 137,048,666.38 year-on-year[16] - Basic earnings per share increased by 200.00% to CNY 0.15[9] - Operating profit rose to ¥340,272,844.88 from ¥131,930,188.20, marking an increase of approximately 157.5%[29] Revenue and Cash Flow - Revenue decreased by 2.33% to CNY 2,870,620,739.18 compared to the same period last year[9] - Operating cash flow increased by 65.14% to CNY 875,057,036.87 compared to the same period last year[9] - Cash inflow from operating activities totaled CNY 1,985,373,330.03, down from CNY 2,152,311,237.85, indicating a decline in sales revenue[40] - Cash flow from operating activities generated ¥875,057,036.87, compared to ¥529,902,997.35, an increase of approximately 65%[36] Assets and Liabilities - Total assets increased by 2.38% to CNY 24,108,157,817.15 compared to the end of the previous year[9] - The total assets of the company amounted to CNY 24,108,157,817.15, an increase from CNY 23,548,414,921.22 at the beginning of the year[23] - Total liabilities slightly increased to ¥15,073,729,876.44 from ¥15,042,646,887.75, showing a marginal rise of about 0.21%[27] Shareholder Information - The total number of shareholders reached 215,845, with 142,579 holding A shares and 73,266 holding B shares[12] - The largest shareholder, China Huadian Corporation, holds 44.80% of the shares[11] Investment and Expenses - Investment income surged by 163.13% to CNY 1,275,482.70, primarily due to increased net profit from an associated company[15] - Operating expenses increased by 275.84% to CNY 64,988.19, mainly due to tax penalties incurred during the reporting period[16] - The company’s total operating costs decreased to ¥2,531,623,377.00 from ¥2,807,568,735.85, a reduction of about 9.8%[29] Cash Management - Cash and cash equivalents at the end of the period were CNY 2,642,563,511.23, up from CNY 2,339,261,246.07 at the beginning of the year[21] - The ending cash and cash equivalents balance increased to CNY 2,022,190,862.41 from CNY 1,509,147,992.78, reflecting a net increase of CNY 79,689,378.53[41] - The company raised CNY 1,655,000,000.00 through borrowings, a substantial increase from CNY 462,437,027.01 in the prior period, enhancing liquidity[37] Future Outlook - The company forecasts a slight profit for the first half of 2014, indicating a potential turnaround from previous losses[18] - The company has received approval for the expansion project of its wholly-owned power plant, indicating plans for market expansion[17]