Financial Performance - Total assets at the end of the reporting period reached ¥33,150,339,398.64, an increase of 7.07% compared to the end of the previous year[5] - Net assets attributable to shareholders of the listed company amounted to ¥5,976,351,395.76, reflecting a growth of 15.22% year-on-year[5] - Operating revenue for the reporting period was ¥2,339,726,835.35, down 30.77% compared to the same period last year[5] - Net profit attributable to shareholders of the listed company was ¥174,376,306.52, an increase of 34.59% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥138,566,721.97, up 3.90% year-on-year[5] - Basic earnings per share for the reporting period was ¥0.08, representing a 33.33% increase compared to the same period last year[5] - The weighted average return on equity was 3.18%, an increase of 15.22% year-on-year[5] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 203,769[9] - The largest shareholder, Datong Coal Mine Group Co., Ltd., held 30.17% of the shares, totaling 680,012,800 shares[9] Asset and Investment Changes - Accounts receivable increased by 195.41% to CNY 254,263,221.67 due to an increase in electricity bill receivables[13] - Prepayments rose by 33.85% to CNY 311,254,644.76 primarily due to increased procurement payments[13] - Long-term equity investments increased by 208.88% to CNY 2,390,405,296.93, driven by investments in various coal mining companies totaling CNY 1,568,410,568.67[13] - Construction in progress increased by 83.68% to CNY 4,715,669,876.37, mainly due to expenditures on the thermal power project in Yongji[14] - Investment income increased by 536.13% to CNY 48,098,191.74, attributed to higher net profits from joint ventures[16] - Cash received from tax refunds increased by 118.30% to CNY 10,480,384.97, mainly due to increased VAT refunds[17] - Cash paid for investments surged by 1724.23% to CNY 1,459,380,000.00, reflecting increased investments in coal mining companies[18] - Undistributed profits rose by 81.52% to CNY 1,317,721,971.45, driven by higher operating net profits compared to the previous year[15] - Other receivables increased by 59.27% to CNY 875,175,299.73, primarily due to project payments made by Shanxi Zhangze Power New Energy Investment Co., Ltd.[13] Corporate Actions and Commitments - The company plans to inject coal mining assets into the listed company to enhance operational efficiency and protect shareholder interests[20] - The company will inject the "Datar Power Phase II" project into Zhangze Electric within 24 months after obtaining the approval documents[22] - The company has committed to maintaining independence from the Shanxi Coal Group in personnel, finance, assets, and operations[23] - The company will avoid any competition with the main business of Zhangze Electric in production and operation[23] - The company will not provide any illegal guarantees to the Shanxi Coal Group or its subsidiaries[24] - The company will ensure that any related transactions are conducted at market prices and comply with relevant laws and regulations[22] - The company has promised to compensate for any economic losses caused by violations of commitments made to protect minority shareholders[23] - The company will not enjoy any profits from Zhangze Electric during the transition period after the completion of the transaction[24] - The company will conduct audits to determine the net asset changes during the transition period[24] - The company will ensure that the "Zhangze Electric" remains the only listed platform for the integration of Shanxi Coal Group's domestic power generation assets[23] - The company will select appropriate timing to inject the 49.5MW wind power project into Zhangze Electric within 24 months after obtaining the approval documents[23] Future Outlook - The company anticipates a significant change in net profit for the year, potentially resulting in a loss compared to the same period last year[29] Compliance and Governance - There are no securities investments reported during the reporting period[29] - The company does not hold shares in other listed companies during the reporting period[30] - There are no derivative investments reported during the reporting period[31] - The company has received inquiries regarding its operational status and development plans from various individuals[32] - The company has no violations related to external guarantees during the reporting period[33] - There are no non-operational fund occupations by controlling shareholders or related parties during the reporting period[34] - The company has commitments from the coal group to bear any losses due to land ownership certificate issues affecting normal operations[27] - The coal group has promised to assist in obtaining approvals to delay the shutdown of the first phase of the Datang Thermal Power project[27] - The company is in the process of obtaining property ownership certificates for its assets, with assurances from the coal group regarding ownership disputes[27]

Financial Performance - The company's operating revenue for the first half of 2015 was ¥4,552,087,637.01, a decrease of 12.81% compared to the same period last year[21]. - Net profit attributable to shareholders was ¥417,399,722.16, representing a significant increase of 120.17% year-on-year[21]. - The net profit after deducting non-recurring gains and losses was ¥322,209,056.06, up by 121.53% compared to the previous year[21]. - Basic earnings per share increased to ¥0.19, a rise of 137.50% compared to ¥0.08 in the previous year[21]. - The company reported a total profit of CNY 600,111,559.94, up 76.61% from CNY 339,671,593.19 in the same period last year[135]. - The company recorded an investment income of CNY 43,555,646.80, a significant recovery from a loss of CNY 16,900,794.16 in the same period last year[135]. - The comprehensive income for the period amounted to CNY 500,741,057.94, which includes a net profit of CNY 417,399,722.16 and other comprehensive income of CNY 83,341,335.78[154]. Cash Flow - The net cash flow from operating activities was ¥1,160,957,533.28, down 32.43% from the same period last year[21]. - Cash inflow from operating activities totaled CNY 4,860,298,493.04, a decline of 10.5% compared to CNY 5,431,919,630.59 last period[144]. - Cash outflow from operating activities was CNY 3,699,340,959.76, slightly decreased by 0.4% from CNY 3,713,756,725.74[144]. - Investment activities resulted in a net cash outflow of CNY 2,398,948,125.73, worsening from a net outflow of CNY 1,521,905,744.44 in the previous period[144]. - The total cash and cash equivalents at the end of the period decreased to CNY 1,177,676,957.46 from CNY 2,423,615,125.60[145]. Assets and Liabilities - Total assets at the end of the reporting period were ¥31,453,609,738.67, an increase of 1.59% from the end of the previous year[21]. - The total liabilities of the company amounted to CNY 12,916,887,037.80, slightly down from CNY 13,059,956,555.12 at the end of the previous period[135]. - Current liabilities decreased to CNY 11.10 billion from CNY 12.61 billion, a reduction of about 11.97%[128]. - Long-term borrowings rose to CNY 8.69 billion, compared to CNY 8.06 billion, reflecting an increase of approximately 7.83%[128]. - The total liabilities decreased slightly to CNY 24.76 billion from CNY 24.87 billion, a decrease of about 0.44%[128]. Investments and Acquisitions - The company invested CNY 1,555,157,700.00 during the reporting period, a significant increase of 231.36% compared to CNY 469,320,000.00 in the same period last year[36]. - The company acquired all assets and liabilities of the wind power division of Datong Coal Mine Group, impacting total assets by ¥658,724,395.52[21]. - The company acquired 100% equity of Lianzhong Hengjiu Energy Technology (Beijing) Co., Ltd. for a transaction price of 452.77 million CNY, completed in April 2015[62]. - The company completed the acquisition of all assets and liabilities of the wind power division of Datong Coal Mine Group Electric Power Company for 5,679.36 million CNY, contributing a net profit of 6.94% to the company[64]. Shareholder Information - The total number of shares is 2,253,737,800, with 30.17% being restricted shares and 69.83% being unrestricted shares[110]. - The largest shareholder, Datong Coal Mine Group, holds 30.17% of the shares, amounting to 680,012,800 shares[112]. - The second-largest shareholder, Shanxi Provincial Government State-owned Assets Supervision and Administration Commission, holds 13.27% with 299,130,000 shares[112]. Governance and Management - The board of directors consists of 11 members, with 4 independent directors, ensuring effective checks and balances[57]. - The company has established various committees under the board, including a strategy committee and an audit committee, to enhance governance[57]. - The company has a well-structured internal control system, enhancing risk management and internal control standards[58]. Operational Strategy - The company plans to enhance management efficiency and focus on project construction and capital operations to achieve profit targets in the second half of the year[28]. - The company has made progress in expanding its power generation capacity and controlling fuel costs through various measures, including direct coal procurement and public bidding[32]. - The company plans to site all future power plants in areas with coal resources, ensuring synchronized planning and approval processes[92]. Compliance and Legal Matters - The company reported no major litigation or arbitration matters during the reporting period, ensuring a stable operational environment[59]. - The company confirmed that there are no legal risks of delisting during the reporting period[105]. - The company has not faced any penalties or rectification issues during the reporting period[104]. Financial Reporting - The interim financial report for the first half of 2015 has not been audited[103]. - The financial statements are prepared based on the accrual basis of accounting, with historical cost as the measurement basis for most items, except for certain financial instruments and investment properties[175]. - The financial statements comply with the requirements of the accounting standards and accurately reflect the company's financial position as of June 30, 2015[178].

Financial Performance - The company's operating revenue for 2014 was ¥10,922,837,403.68, representing a 19.36% increase compared to ¥9,151,114,069.43 in 2013[23]. - The net profit attributable to shareholders for 2014 was ¥550,546,960.42, up 20.88% from ¥455,454,318.06 in the previous year[23]. - The net cash flow from operating activities increased by 27.34% to ¥2,816,877,057.09 in 2014, compared to ¥2,212,173,514.36 in 2013[23]. - The basic earnings per share for 2014 was ¥0.2443, a 10.49% increase from ¥0.2211 in 2013[23]. - The total operating revenue for the electricity segment was ¥8,661,962,957.83, with a gross margin of 23.24%, reflecting a 6.27% increase in operating costs year-on-year[45]. - The operating profit for the year was 766 million yuan, reflecting a 12.98% increase from the previous year[30]. - The company reported a significant increase in employee compensation, which rose by 67.17% to 578.7 million yuan, indicating a focus on talent retention and development[36]. - The company reported a cash dividend of approximately ¥550.55 million for the year 2014, an increase from ¥455.45 million in 2013[79]. Assets and Liabilities - The total assets at the end of 2014 were ¥30,301,561,633.35, a slight decrease of 0.58% from ¥30,479,052,780.40 at the end of 2013[23]. - The net assets attributable to shareholders increased by 11.67% to ¥5,186,699,779.54 at the end of 2014, compared to ¥4,644,868,244.32 at the end of 2013[23]. - The asset-liability ratio stood at 79.9%, while the capital preservation and appreciation rate was 111.67%[29]. - Cash and cash equivalents at the end of 2014 were ¥3,068,923,946.73, which is 10.13% of total assets, up from 6.27% in 2013[47]. - Short-term borrowings decreased to ¥3,300,000,000.00, accounting for 10.89% of total assets, down from 18.24% in 2013[49]. Operational Highlights - As of the end of 2014, the total installed capacity of the company reached 7.68 million kW, with a total electricity generation of 29.476 billion kWh and operating revenue of 10.923 billion yuan, representing a year-on-year increase of 19.36%[29]. - The company managed to reduce fuel costs, with fuel expenses amounting to 3.576 billion yuan, which accounted for 43.83% of operating costs, down from 50.96% the previous year, reflecting a decrease of 6.41%[36]. - The company achieved a total sales revenue of 727 million yuan from the management of Shanxi Huaze Aluminum Power Co., Ltd.'s 2×300MW generator sets during the reporting period[31]. - The top five customers accounted for 93.13% of total sales, with Shanxi Electric Power Company being the largest customer, contributing 77.90% of total sales at 8.509 billion yuan[32]. Strategic Initiatives - The company plans not to distribute cash dividends or issue bonus shares for the year[5]. - The company aims to enhance its sustainable development and risk resistance through strategic mergers and acquisitions in the energy sector[52]. - The company is committed to increasing the proportion of renewable energy in its portfolio through self-construction, mergers, and cooperative development[70]. - The company plans to enhance market expansion by maximizing external electricity procurement and optimizing fuel management to control coal prices[69]. - The company is actively pursuing technological innovation to improve energy efficiency and reduce emissions across its operations[70]. Governance and Compliance - The company has established a legal compliance framework to mitigate operational risks and ensure standardized operations[71]. - The company has enhanced its internal control systems to strengthen management and accountability mechanisms[71]. - The company has maintained a strict insider information management system, with no incidents of insider trading reported during the year[171]. - The independent auditor, Ruihua Certified Public Accountants, issued a standard unqualified audit opinion on the financial statements for the year ended December 31, 2014[197]. - The board of directors guarantees the authenticity and completeness of the internal control self-evaluation report[190]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 121,713, compared to 162,132 five trading days before the report date[143]. - The controlling shareholder, Datong Coal Mine Group Co., Ltd., holds 57.46% of the shares of Shanxi Zhangze Electric Power Co., Ltd.[146]. - The company has not proposed or implemented any share buyback plans during the reporting period[149]. - The total remuneration for directors, supervisors, and senior management in 2014 amounted to 8.6615 million yuan[160]. Future Outlook - The company aims to achieve ultra-low emissions for all units above 300,000 kilowatts by the end of 2017 and meet national energy consumption standards by 2020[70]. - The company plans to actively pursue equity financing to optimize its asset scale and economic efficiency[71]. - The company is considering issuing non-public targeted debt financing tools to optimize its capital structure and funding sources[175].

Financial Performance - The company's operating revenue for Q1 2015 was ¥2,020,863,005.20, a decrease of 13.56% compared to ¥2,337,984,861.85 in the same period last year[6] - Net profit attributable to shareholders increased by 27.26% to ¥67,751,860.95 from ¥53,240,486.80 year-on-year[6] - The net profit after deducting non-recurring gains and losses surged by 311.22% to ¥65,611,819.07, compared to ¥15,955,490.83 in the previous year[6] - The net cash flow from operating activities decreased by 21.25% to ¥447,883,203.63 from ¥568,758,536.99 in the same period last year[6] Assets and Shareholder Information - Total assets at the end of the reporting period were ¥30,956,157,817.75, reflecting a 2.16% increase from ¥30,301,561,633.35 at the end of the previous year[6] - The net assets attributable to shareholders increased by 1.30% to ¥5,254,241,453.44 from ¥5,186,699,779.54 at the end of the previous year[6] - The number of ordinary shareholders at the end of the reporting period was 166,393[10] - The largest shareholder, Datong Coal Mine Group Co., Ltd., held 30.17% of the shares, amounting to 680,012,800 shares[10] Investments and Expenses - The company's long-term equity investments increased by 71.96% to ¥1,330,826,536.52, primarily due to investments in Datong Coal Mine Group and Chenghe Shanyang Coal Mine[14] - Management expenses for the reporting period amounted to CNY 21,658,807.53, an increase of 55.45% compared to the previous year, primarily due to an increase in the scope of consolidation[15] - Investment income for the reporting period was CNY 25,680,000.00, a significant increase of 338.34% year-on-year, mainly due to the increase in net profit of invested entities[15] - Cash paid to employees and for employee benefits during the reporting period was CNY 222,219,891.83, an increase of 53.24% year-on-year, mainly due to the commissioning of new units and increased insurance payments[16] Cash Flow and Capital Expenditures - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets was CNY 526,689,049.19, a decrease of 43.07% compared to the previous year, primarily due to reduced infrastructure investment[18] - Cash invested during the reporting period was CNY 480,000,000.00, an increase of 500.00% year-on-year, primarily for investments in Datong Coal Mine Group (Shanghai) Leasing Co., Ltd. and Chenghe Shanyang Coal Mine Co., Ltd.[18] - Cash received from other investment-related activities was CNY 3,242,452.98, a decrease of 95.09% compared to the previous year, mainly due to the impact of cash and cash equivalents from newly consolidated companies in the previous period[16] Corporate Governance and Restructuring - 同煤集团 committed to maintaining the independence of Zhangze Power during its period as a controlling shareholder, ensuring no violations of independence regulations[22] - In the major asset restructuring, the commitment includes no illegal occupation of target asset funds and no guarantees provided to other enterprises controlled by the coal group[22] - Zhangze Power will serve as the only listed platform for the integration of domestic power assets of the coal group post-restructuring[22] - The coal group will inject the "Datar Thermal Power Phase II" project into Zhangze Power within 24 months after obtaining approval[22] - The wind power project at the Shanyin Zhinv Spring will also be injected into Zhangze Power within 24 months after approval[22] - The coal group will avoid competition with Zhangze Power's main business of power production and sales post-restructuring[22] - The arrangement for the transitional period's earnings ensures that the coal group will not benefit from Zhangze Power's earnings during this period[24] - The net asset increase of Zhangze Power during the transitional period will be audited and compensated accordingly by the coal group[24] - The compensation formula for cash payments from the coal group to Zhangze Power is based on the net asset increase during the transitional period[24] - The coal group will ensure compliance with relevant regulations regarding external guarantees and fund transactions[22] Land and Property Issues - The company has committed to handle the land ownership certificate issues for the Ta Shan Power Plant, ensuring that any losses incurred due to the lack of these certificates will be borne by the parent company, Tongmei Group[26] - Tongmei Group has promised to renew temporary land contracts for the Tonghua Power Plant if construction is not completed by the contract expiration, and will cover any related costs if renewal is not possible[26] - The company currently uses 29.01 million square meters (approximately 435.13 acres) of collective land for the Tonghua Power Plant, with compensation for the land needed for the second phase already in place[26] - The company anticipates potential impairment risks for the first phase of the Datang Thermal Power Plant, which is expected to be shut down within three months after the second phase begins operations[26] - Tongmei Group has guaranteed that it will assist in obtaining approvals to delay the shutdown of the first phase of the Datang Thermal Power Plant, ensuring no losses to the company due to impairment provisions[26] - The company has confirmed that it is in the process of obtaining property ownership certificates for the Wangping Power Plant, Ta Shan Power Plant, and Datang Thermal Power Plant, with no ownership disputes reported[28] Future Outlook - The company does not expect significant changes in net profit for the first half of 2015 compared to the same period last year[30] - There were no securities investments or derivative investments reported during the reporting period[32] - The company engaged in communication with investors to discuss its operational status and development plans on February 11, 2015[33] - The company has fulfilled its commitments to minority shareholders in a timely manner[28]

Financial Performance - Operating revenue for the reporting period reached ¥3,379,718,613.14, representing a year-on-year increase of 53.20%[5] - Net profit attributable to shareholders of the listed company was ¥129,559,108.33, down 14.92% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥133,363,638.82, a decrease of 18.16% year-on-year[5] - Basic earnings per share for the reporting period were ¥0.06, down 14.29% year-on-year[5] - The weighted average return on net assets was 2.76%, a decrease of 26.79% compared to the previous year[5] - The company reported a potential significant change in net profit for the year, indicating possible losses compared to the previous year[32] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥30,267,858,047.30, a decrease of 0.62% compared to the end of the previous year[5] - Net assets attributable to shareholders of the listed company increased by 6.68% to ¥4,931,243,620.65[5] - Financial assets measured at fair value decreased to 0, a 100% reduction compared to the beginning of the year, due to the expiration of derivative instruments[13] - Prepayments increased to ¥947,979,804.22, a 216.88% increase from the beginning of the year, primarily due to prepayments for capacity transfer and fuel[13] - Other receivables decreased to ¥645,365,484.92, a 78.62% reduction from the beginning of the year, mainly due to the recovery of advance payments[13] - Engineering materials increased to ¥752,738,535.57, a 595.06% increase from the beginning of the year, attributed to increased material and equipment at a subsidiary[13] - Short-term borrowings decreased to ¥1,840,000,000.00, a 66.91% reduction from the beginning of the year, due to a decrease in short-term loans[14] - Long-term payables increased to ¥3,345,931,062.62, a 124.98% increase from the beginning of the year, due to new financing lease business[15] Operating Activities - The net cash flow from operating activities for the year-to-date was ¥2,793,016,796.97, an increase of 52.69%[5] - Cash received from operating activities increased to ¥133,749,243.32, a 98.86% increase year-on-year, due to changes in the consolidation scope[20] - Cash paid for fixed assets and other long-term assets amounted to ¥2,123,745,412.72, a 40.77% increase year-on-year, due to increased investment in ongoing projects[21] - Operating tax and additional charges for the reporting period amounted to ¥58,921,250.30, a 105.80% increase year-on-year, due to changes in the consolidation scope[16] - Management expenses for the reporting period were ¥88,340,616.73, a 138.24% increase year-on-year, primarily due to increased expenses from newly consolidated companies[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 110,485[9] - The largest shareholder, Datong Coal Mine Group Co., Ltd., holds 30.17% of the shares, totaling 680,012,800 shares[9] Corporate Governance and Compliance - The company is committed to maintaining independence and avoiding related party transactions, ensuring fair operations at market prices[24] - The company reported that the major asset restructuring will not involve any violations of regulations regarding related party transactions and external guarantees[26] - The company has ongoing commitments from its major shareholder to avoid competition with its core business and to ensure fair treatment of minority shareholders[26] - The company is focused on compliance with regulatory requirements to protect the interests of minority shareholders during significant asset transactions[26] - The company has established a framework for fair pricing and transparency in transactions with its major shareholder[24] - The company is committed to avoiding conflicts of interest and ensuring that any related party transactions are conducted in accordance with legal and regulatory standards[24] Investor Relations - The company conducted multiple investor communications to discuss its operational status and development plans throughout the reporting period[35] - The chairman of the company, Wen Shengyuan, provided insights during the meetings held on March 6, April 2, April 25, and July 9, 2014[35] - The discussions primarily focused on the company's business performance and future strategies[35] - The company is actively engaging with institutional and individual investors to enhance transparency and investor relations[35] - The meetings were held in various formats, including on-site visits and phone communications, indicating a proactive approach to investor engagement[35] - The company aims to provide clear updates on its operational conditions and growth plans to stakeholders[35] - The communication activities reflect the company's commitment to maintaining strong relationships with its investors[35] - The company is focused on understanding market expectations and aligning its strategies accordingly[35] - The discussions included insights into the company's future outlook and potential growth opportunities[35] - The company is dedicated to continuous improvement in its operational performance and strategic planning[35] Derivative Investments - The company engaged in derivative investments, specifically a yen swap contract, with an initial investment of ¥1,463.23 million[34] - The fair value change of the derivative investment resulted in a loss of ¥14,632,331.00 for the reporting period[34] - The company has implemented strict internal controls to manage risks associated with derivative investments, including market and credit risks[34] - The company has confirmed that there have been no significant changes in accounting policies for derivative investments compared to the previous reporting period[34]

Financial Performance - The company achieved operating revenue of CNY 5,220,800,460.90, an increase of 19.73% compared to the same period last year[23]. - Net profit attributable to shareholders reached CNY 189,581,328.96, reflecting a significant increase of 153.59% year-on-year[23]. - The net cash flow from operating activities was CNY 1,718,162,904.85, up by 38.95% compared to the previous year[23]. - Basic earnings per share doubled to CNY 0.08, compared to CNY 0.04 in the same period last year[23]. - The weighted average return on net assets increased to 4.02%, up by 2.15 percentage points from the previous year[23]. - Operating costs rose to ¥4,262,433,582.69, reflecting a 15.96% increase from ¥3,675,726,026.79, mainly due to an expanded consolidation scope[31]. - The company reported a significant increase in management expenses, which rose by 126.69% to ¥42,624,501.14, primarily due to increased employee compensation and the expanded consolidation scope[31]. - Operating profit improved to ¥308,071,559.63 compared to ¥204,096,887.07, reflecting a growth of approximately 50.9%[118]. - Net profit increased to ¥237,190,730.91 from ¥138,651,798.91, marking a growth of around 71.2%[118]. Cash Flow and Liquidity - The company’s cash and cash equivalents decreased by 72.45% to ¥513,543,275.59, primarily due to increased cash payments during the period[31]. - Cash flow from operating activities generated ¥1,718,162,904.85, up from ¥1,236,567,173.83, an increase of approximately 38.9%[124]. - Cash flow from investing activities showed a net outflow of ¥1,521,905,744.44, compared to a net inflow of ¥243,547,616.17 in the previous period[125]. - Cash flow from financing activities yielded a net inflow of ¥301,292,144.32, down from ¥410,775,350.71[125]. - The ending cash and cash equivalents balance was ¥2,423,615,125.60, slightly up from ¥2,400,410,443.00[125]. - The company reported a net cash flow from operating activities for the current period is ¥1,112,698,908.81, a significant improvement compared to the previous period's net cash flow of -¥8,051,479.08[128]. - Total cash inflow from operating activities is ¥2,145,359,663.87, while total cash outflow is ¥1,032,660,755.06, resulting in a net cash flow of ¥1,112,698,908.81[128]. Investments and Acquisitions - The company made an external investment of ¥469,320,000.00 during the reporting period, marking a 100% increase compared to the previous year[36]. - The company has engaged in multiple acquisitions to expand its market presence, including a 60% stake in several power generation companies[146]. - The company acquired 54% equity in Datong Coal Mine Group Tongmei Power Fuel Co., Ltd. and 50.76% equity in Datong Coal Mine Group Tongmei Power Engineering Co., Ltd., making them wholly-owned subsidiaries as of January 1, 2014[55]. Asset Management - The total assets at the end of the reporting period were CNY 30,455,700,942.56, showing no significant change from the previous year[23]. - The total non-current assets reached CNY 23,592,927,539.12, an increase from CNY 22,671,483,755.98, suggesting growth in long-term asset base[111]. - Fixed assets totaled CNY 17,472,465,861.20, up from CNY 16,597,728,829.33, reflecting ongoing investments in infrastructure[111]. - The company’s long-term equity investments increased to CNY 790,876,438.43 from CNY 907,322,215.39, indicating strategic investment adjustments[111]. Governance and Compliance - The company has established a governance structure with 11 board members, including 4 independent directors, ensuring effective checks and balances[51]. - The internal control system is deemed comprehensive and effective, enhancing risk management and internal control standards[52]. - The company has committed to maintaining independence from its controlling shareholder, ensuring no harm to the rights of minority shareholders[81]. - The company has not engaged in any asset acquisitions or disposals during the reporting period[53][54]. - The company has no violations regarding external guarantees during the reporting period[77]. Risk Management - The company has implemented strict internal controls to manage risks associated with its derivative investments, particularly in response to currency fluctuations[40]. - The company recognizes impairment losses on financial assets based on expected future cash flows, with significant individual financial assets tested separately for impairment if they exceed RMB 10 million[181]. Revenue Sources - The company completed a total power generation of 145.26 billion kWh during the reporting period, contributing to the overall revenue growth[32]. - The total revenue from heat fees for the Tongmei Datang Tashan Coal Mine was 6,277.17, representing a 52.62% increase[62]. - The total revenue from electricity fees for Shanxi Huaze Aluminum Electric was 34,439.01, showing an 8.01% increase[62]. Shareholder Information - The total number of shares outstanding remained at 2,253,737,800, with no change in the overall share structure[96]. - The largest shareholder, Datong Coal Mine Group, holds 30.17% of shares, totaling 680,012,800 shares[99]. - The company has not made any distributions to shareholders during the current period[140]. Financial Reporting - The financial report for the half-year period was not audited[108]. - The company follows the Chinese Accounting Standards and prepares its financial statements based on the going concern assumption[150]. - The company’s financial reporting period aligns with the calendar year, from January 1 to December 31[152].

Financial Performance - The company's operating revenue for Q1 2014 was ¥2,337,984,861.85, representing a 14.78% increase compared to the same period last year[6] - Net profit attributable to shareholders was ¥53,240,486.80, marking a 44.48% increase year-over-year[6] - The net profit after deducting non-recurring gains and losses was ¥15,955,490.83, reflecting a significant decrease of 74% compared to the previous year[6] - The net cash flow from operating activities was ¥568,758,536.99, which is a 5.45% increase from the previous year[6] - Total assets at the end of the reporting period were ¥30,076,531,314.72, showing a decrease of 1.25% from the end of the previous year[6] Shareholder Information - The total number of shareholders at the end of the reporting period was 98,229[9] - The largest shareholder, Datong Coal Mine Group Co., Ltd., holds 30.17% of the shares, amounting to 680,012,800 shares[9] Changes in Financial Position - Accounts receivable increased by 102.58% to ¥111,222,578.03 due to changes in the consolidation scope[14] - Prepayments rose by 218.73% to ¥953,507,943.72, attributed to increased prepayments for equipment and fuel[14] - The company's investment properties decreased by 47.14% to ¥3,674,398.77 due to the transfer of investment properties[14] - The amount of advance payments as of March 31, 2014, was ¥207,948,002.22, an increase of 23908.97% compared to the beginning of the year, primarily due to changes in the consolidation scope with the addition of a fuel company[15] - The employee compensation payable as of March 31, 2014, was ¥101,402,242.25, an increase of 119.17% compared to the beginning of the year, mainly due to changes in the consolidation scope[15] - The tax payable as of March 31, 2014, was ¥278,188,804.62, an increase of 177.15% compared to the beginning of the year, primarily due to changes in the consolidation scope[15] Financial Expenses and Cash Flow - The financial expenses for the reporting period amounted to ¥269,168,249.30, an increase of 37.22% compared to the previous year, mainly due to increased financial expenses from the fuel company's bill discounting and the commissioning of the Linfen Thermal Power Phase II project[16] - The cash received from other operating activities for the reporting period was ¥54,148,184.32, an increase of 142.98% compared to the previous year, primarily due to changes in the consolidation scope[17] - The cash paid for taxes during the reporting period was ¥177,401,759.79, an increase of 50.90% compared to the previous year, mainly due to changes in the consolidation scope[17] - The cash paid for the construction of fixed assets, intangible assets, and other long-term assets was ¥925,112,567.29, an increase of 138.44% compared to the previous year, primarily due to changes in the consolidation scope[18] - The cash received from borrowings during the reporting period was ¥2,976,938,833.33, an increase of 156.01% compared to the previous year, primarily due to increased borrowings from changes in the consolidation scope[19] - The cash paid for debt repayment during the reporting period was ¥2,062,301,666.75, an increase of 84.46% compared to the previous year, mainly due to increased repayments of maturing borrowings[19] - The cash received from capital contributions during the reporting period was ¥147,424,444.45, all of which was new, primarily due to capital contributions from minority shareholders of the newly consolidated companies[18] Commitments and Restructuring - The company reported a commitment from the coal group to assume all legal responsibilities related to the lawsuits involving Tonghua Power, ensuring cash compensation for any losses incurred during the assessment period[23] - The coal group will transfer 51% of the engineering company and 54% of the fuel company shares to Zhangze Power within twelve months after the completion of the restructuring[23] - The management service fees charged by Tongmei Energy to various power plants were 0.2% of revenue and 1% of total profit, which were deemed unreasonable and will cease from June 2012[23] - The company has committed to maintaining independence from the coal group in terms of personnel, finance, assets, business, and organization during the period of coal group's control[25] - The coal group has promised that there will be no violations regarding the occupation of funds from the target assets until the completion of the major asset restructuring[25] - The company will strictly adhere to relevant laws and regulations regarding related party transactions to protect the rights of minority shareholders[25] - The coal group will ensure that all transactions with Zhangze Power are conducted at market prices and in compliance with legal procedures[25] - The company aims to enhance its operational independence and will not charge management service fees to the power plants post-restructuring[23] - The coal group has committed to not providing guarantees for other enterprises under its control after the completion of the restructuring[25] - The company is focused on ensuring fair operations and transparency in all related party transactions to avoid any potential conflicts of interest[25] Asset Management and Future Plans - The company reported a commitment to ensure that the ownership of the assets related to Wangping Power, Tashan Power, and Datang Thermal Power is free from disputes, with ongoing efforts to obtain property ownership certificates[27] - The company plans to integrate its domestic power generation assets under Zhangze Electric as the sole listed platform following the completion of a major asset restructuring[27] - The company has committed to avoid any competition with Zhangze Electric's main business of power generation and sales post-restructuring[27] - The company will choose an appropriate time to inject the Datang Thermal Power Phase II expansion project into Zhangze Electric within 24 months after obtaining the necessary approvals[27] - The company has outlined a cash compensation formula for net asset increases during the transition period, ensuring fair financial arrangements with the controlling shareholder[29] - The company is responsible for any losses incurred by Zhangze Electric due to the lack of property ownership certificates for certain assets[29] - The company has committed to continue the temporary land contracts for the Tonghua Power project and will bear any related costs if unable to renew[29] - The company reported a net asset increase during the transition period, which will be calculated based on the proportion of shares obtained through a directed issuance[29] - The company has a total of 29.01 hectares of land currently in use for the Tonghua Power project, ensuring compliance with land use regulations[29] - The company is actively working on the approval process for the 49.5MW wind power project at the Shanyin Zhinvquan Wind Farm, with plans to inject it into Zhangze Electric within 24 months of approval[27] - The company has committed to injecting two coal mines with a combined production capacity of 1.5 million tons into the listed company by the end of 2014[31] - The company reported that the second phase of the Datang Thermal Power project is expected to commence operations, leading to the shutdown of the first phase within three months, which poses a risk of impairment[31] - The company plans to gradually inject operational assets from coal mines supplying coal to its power plants into the listed company, ensuring compliance with legal and regulatory requirements[31] - The company has made a commitment to ensure that all future power plants will be located in areas with coal resources, with synchronized planning and construction[31] - The company has undertaken significant preparatory work to inject two coal mines into the listed company, ensuring that it will not engage in the same business as its parent company post-restructuring[31] - The company has established a project company to oversee the construction and approval of the Datang Thermal Power Phase II project, ensuring that all rights and obligations are retained by the parent company[33] - The company has restricted the sale of shares held by major shareholders for a period of 12 to 36 months following the public offering[33] - The company is committed to compensating for any losses incurred due to the impairment of the first phase of the Datang Thermal Power project[31] - The company aims to transform existing power plants into pithead power plants and will seek to acquire coal mines to supply these plants[31] - The company has outlined a strategy to relocate power plant construction projects to areas with coal resources, ensuring all future projects are aligned with coal supply[31] Derivative Investments - The company reported a derivative investment amount of ¥1,463.23 million, which accounted for 0.27% of the net assets at the end of the reporting period[38] - The company has committed to a non-public issuance of shares, with a total of 7 million shares promised to specific parties as of April 23, 2014[35] - The company anticipates that the cumulative net profit from the beginning of the year to the next reporting period may experience significant fluctuations compared to the same period last year[36] - The company held a field investigation on March 6, 2014, to discuss its operational status and development plans with institutional investors[39] - The company has implemented strict internal control systems to manage risks associated with financial derivatives, including market, liquidity, credit, operational, and legal risks[38] - The company has not reported any significant changes in its accounting policies for derivative investments compared to the previous reporting period[38] - The company has no ongoing litigation related to its derivative investments[38] - The company has a commitment to limit the sale of shares obtained from the public offering for a period of 12 months[35] - The company has not recognized any impairment losses on its derivative investments during the reporting period[38] - The company is actively monitoring exchange rate fluctuations to mitigate risks associated with its derivative financial instruments[38]

Financial Performance - The company's operating revenue for 2013 was CNY 9,151,114,069.43, representing a 67.81% increase compared to CNY 5,453,334,636.21 in 2012[24]. - The net profit attributable to shareholders for 2013 was CNY 455,454,318.06, a significant increase of 219.28% from CNY 142,649,874.89 in 2012[24]. - The net cash flow from operating activities reached CNY 2,212,173,514.36, marking a 428.28% increase from CNY 418,750,424.83 in the previous year[24]. - Total assets at the end of 2013 amounted to CNY 30,479,052,780.40, which is a 103.42% increase from CNY 14,983,459,343.32 at the end of 2012[24]. - The net assets attributable to shareholders increased to CNY 4,644,868,244.32, reflecting a 139.01% rise from CNY 1,943,390,031.44 in 2012[24]. - The basic earnings per share for 2013 was CNY 0.22, a slight increase of 4.76% compared to CNY 0.21 in 2012[24]. - The weighted average return on equity for 2013 was 9.32%, up from 8.1% in 2012[24]. - The company reported a total profit of 455,454,318.06 CNY for 2013, with no cash dividends distributed, resulting in a 0% payout ratio[101]. Operational Highlights - In 2013, the company achieved a total power generation of 28.352 billion kWh and sales revenue of 9.151 billion yuan, with a total profit of 756 million yuan[30]. - The company's installed capacity reached 7.2285 million kW, representing a year-on-year increase of 90.8%[30]. - The total sales volume of electricity decreased by 6.98% to 25.673 billion kWh compared to the previous year[34]. - The company managed to generate 786 million yuan in sales revenue from the management of Shanxi Huaze Aluminum Electric Co., Ltd.'s power generation units[32]. - The company maintained a stable production environment despite a decline in overall market demand for electricity[30]. - The company emphasized management integration and project development as key strategies for enhancing operational efficiency[31]. Cost and Expenses - The cost of electricity production increased significantly, with fuel costs rising by 31.89% to 3.821 billion yuan, accounting for 50.96% of total operating costs[39]. - The company reported a significant increase in external power purchase costs, which surged by 1,514.92% due to increased power purchases and multilateral transactions[39]. - Management expenses for 2013 amounted to ¥79,362,550.09, all of which were newly incurred due to changes in the consolidation scope[42]. - Financial expenses increased by 61.67% year-on-year to ¥902,990,169.07, primarily due to changes in the consolidation scope[42]. Asset Management - The company’s total liabilities increased significantly, with debt repayment cash outflow rising by 334.86% to ¥8,647,130,993.17[49]. - As of the end of 2013, cash and cash equivalents amounted to ¥1,910,071,850, representing 6.27% of total assets, an increase of 2.69% compared to the end of 2012[55]. - Accounts receivable reached ¥1,445,790,819, accounting for 4.74% of total assets, a decrease of 1% from the previous year[55]. - Fixed assets totaled ¥16,597,728,829, making up 54.46% of total assets, which is a decline of 11.7% year-over-year[55]. - Short-term borrowings increased significantly to ¥5,559,848,348, representing 18.24% of total assets, up by 16.86% compared to 2012[57]. - Long-term borrowings rose to ¥9,426,563,646, accounting for 30.93% of total assets, reflecting a 52.03% increase due to efforts to alleviate funding pressures[57]. Strategic Initiatives - The company completed a significant asset restructuring during the reporting period, changing its controlling shareholder to Datong Coal Mine Group Co., Ltd.[20]. - The company has established a competitive advantage through resource integration and professional management, aiming to transform into a coal-electricity integrated power plant[60]. - The company plans to focus on coal-electricity integration and management enhancement in 2014 to achieve its operational goals[80]. - A technology center has been established to drive innovation, focusing on clean coal power, renewable energy, and carbon capture technologies[82]. - The company is expanding its market presence by developing large-scale coal power projects and investing in wind, solar, and distributed energy projects[84]. Compliance and Governance - The company has maintained compliance with labor laws and regulations, ensuring employee rights and benefits are protected[102]. - The company has not faced any significant administrative penalties during the reporting period[103]. - The company’s cash dividend policy has been revised to ensure clarity and compliance with regulations, although no dividends were declared for the reporting period[98]. - The company has implemented a registration system for insider information personnel, complying with regulations and preventing insider trading, with no violations reported during the period[199]. Shareholder and Capital Structure - As of the end of 2013, the total share capital increased from 1.324 billion shares to 2.254 billion shares, a growth of 70.17%[115]. - The company completed the acquisition of 60% of the equity of Tashan Power, 95% of Tonghua Power, 60% of Wangping Power, and 88.98% of Datang Thermal Power, establishing them as subsidiaries[114]. - The company issued 680.0128 million A-shares, which were registered under the name of the coal group as part of the asset acquisition[114]. - The shareholding structure post-restructuring includes Datong Coal Mine Group holding 30.17% of shares[164]. - The controlling shareholder, Datong Coal Mine Group Co., Ltd., holds 57.44% of the shares of Shanxi Zhangze Electric Power Co., Ltd. as of the reporting period[170]. Human Resources - The company employed a total of 7,205 staff members as of the end of the reporting period[191]. - The number of employees with a bachelor's degree or higher was 1,446, while those with a college diploma numbered 2,996[192]. - The company has established a salary distribution system linked to job responsibilities, business capabilities, and performance contributions[195]. - The total remuneration for directors, supervisors, and senior management in 2013 amounted to CNY 7.4191 million[183].