Financial Performance - The company's operating revenue for the first half of 2018 was CNY 5,276,789,272.70, representing a 23.21% increase compared to CNY 4,282,756,347.11 in the same period last year[18]. - The net profit attributable to shareholders of the listed company reached CNY 349,994,663.39, a significant turnaround from a loss of CNY 600,520,087.24 in the previous year, marking a 158.28% increase[18]. - The total profit amounted to 179 million yuan, an increase of 8.83 million yuan year-on-year[33]. - Revenue for the period was 5.28 billion yuan, up 23.21% from 4.28 billion yuan in the same period last year[36]. - The company reported a net profit of CNY 300 million for the same period, up 20% compared to the previous year[64]. - The profit attributable to the parent company's shareholders was CNY 349,994,663.39, compared to a loss of CNY 600,520,087.24 in the same period last year[140]. - The company reported a significant increase in other income, amounting to CNY 920,328,794.08, compared to CNY 19,058,082.21 in the previous year[139]. - The total comprehensive income for the current period showed a decrease of CNY 737.86 million, reflecting a significant decline compared to the previous period[156]. Cash Flow and Investments - The company generated a net cash flow from operating activities of CNY 554,006,210.06, which is a decrease of 35.11% compared to CNY 853,822,928.97 in the same period last year[18]. - The net cash flow from investment activities improved by 87.67%, reaching -307 million yuan[36]. - The company reported a total cash inflow from financing activities of ¥8,666,841,913.54, while cash outflow was ¥10,795,637,529.24, leading to a net cash flow of -¥2,128,795,615.70[147]. - The ending balance of cash and cash equivalents was ¥2,236,946,499.54, down from ¥3,667,740,618.38 at the end of the previous period[147]. - Cash flow from investment activities showed a net outflow of ¥307,292,351.30, compared to a net outflow of ¥2,493,018,009.23 in the previous year[147]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 48,379,473,877.28, showing a slight decrease of 0.06% from CNY 48,408,007,818.43 at the end of the previous year[18]. - The company's total liabilities were CNY 40.16 billion, slightly down from CNY 40.39 billion, a decrease of about 0.6%[133]. - The equity attributable to shareholders increased to CNY 7.58 billion from CNY 7.23 billion, representing a growth of approximately 4.9%[134]. - The total current assets as of June 30, 2018, amounted to ¥3,014,168,335.59, a decrease from ¥4,420,659,256.48 at the beginning of the period[131]. - Current liabilities totaled CNY 19.28 billion, down from CNY 20.42 billion, indicating a reduction of approximately 5.6%[133]. Operational Highlights - The company produced a total of 141.2 billion kWh of electricity in the first half of 2018, an increase of 18.9 billion kWh year-on-year, with thermal power generation increasing by 13.3 billion kWh[26]. - The company is focusing on increasing the proportion of renewable energy generation, including wind and solar power[26]. - The company aims to expand its coal-electricity-aluminum integration projects, targeting a 300,000 kW thermal power unit and downstream electrolytic aluminum projects[30]. - The company has achieved a total installed capacity of 1.4045 million kW in renewable energy, including wind and solar power[34]. - The company is focusing on restructuring its asset portfolio to improve operational efficiency and profitability[52]. Environmental Compliance - The company emitted 15.72 tons of particulate matter, 186.92 tons of sulfur dioxide, and 368.63 tons of nitrogen oxides, all within the permissible limits[98]. - The company maintains a commitment to environmental responsibility, as indicated by its compliance with pollution discharge standards across all reported metrics[98]. - The company is committed to environmental protection and has implemented ultra-low emission transformations across its coal-fired power plants[102]. - All 11 operational coal-fired power plants have achieved compliance with environmental discharge standards[102]. - The company has completed environmental impact assessments for all construction projects and obtained pollution discharge permits for all thermal power plants[103]. Strategic Initiatives - The company plans to focus on seven key areas in the second half of 2018, including cost reduction and enhancing operational efficiency[54]. - The company aims to actively participate in the "Belt and Road" initiative to develop overseas power projects[55]. - The company is transitioning from a power generation operator to a comprehensive energy service provider through research and technological innovation[55]. - The company is working on the transformation and upgrade of key projects, including the Changzhi 2×1 million kW project[54]. - The company has launched a new product line aimed at industrial clients, projected to generate an additional 10 million in revenue[92]. Shareholder Information - The total number of shares before the recent changes was 3,076,942,219, with a total of 658,563,536 shares released from restrictions[109]. - The proportion of limited sale shares decreased from 26.75% to 5.35% after the release of restricted shares[109]. - The company has a total of 2,912,295,069 unrestricted shares, representing 94.65% of total shares[109]. - The top ten shareholders include Datong Coal Mine Group Co., Ltd. with 687,169,910 shares, accounting for 27.68% of total shares[116]. - The company has not issued any preferred shares during the reporting period[121]. Future Outlook - Future outlook indicates a projected revenue growth of 10% for the second half of 2018, driven by increased energy demand[92]. - The company plans to expand its renewable energy projects, targeting an additional 200 MW of wind power capacity by 2020[66]. - The company aims to reduce operational costs by 5% through improved efficiency measures in the next fiscal year[92]. - Shanxi Zhangze Power is committed to sustainability, with plans to reduce carbon emissions by 20% over the next five years[93]. - The company has set a performance guidance for 2019, projecting a revenue growth of 10%[64].

Financial Performance - Total assets at the end of the reporting period reached ¥50,384,684,814.89, an increase of 3.57% compared to the previous year[8] - Net assets attributable to shareholders decreased by 14.05% to ¥7,838,636,690.30 from ¥9,119,655,626.50[8] - Operating revenue for the reporting period was ¥2,545,284,478.44, reflecting an 8.33% increase year-on-year[8] - Net profit attributable to shareholders was a loss of ¥375,882,668.87, a significant decline of 547.58% compared to the same period last year[8] - Basic earnings per share were -¥0.1221, a decrease of 427.35% year-on-year[8] - The weighted average return on net assets was -4.35%, down 4.6 percentage points from the previous year[8] - Cash flow from operating activities decreased by 67.64% to ¥690,979,161.99 year-to-date[8] - Operating costs for the year-to-date reached CNY 6,966,289,914.70, an increase of 33.52% year-over-year, primarily due to rising coal costs[20] - The company reported a decrease in undistributed profits by 86.71% to CNY 149,599,966.49, mainly due to losses incurred[19] Shareholder Information - The total number of shareholders at the end of the reporting period was 151,458[12] - The largest shareholder, Datong Coal Mine Group, holds 27.45% of the shares, amounting to 844,653,683 shares[12] Asset Management and Investments - As of September 30, 2017, cash and cash equivalents decreased by 35.85% to CNY 4,137,912,823.05 compared to the beginning of the year, primarily due to increased construction project expenditures[17] - Prepayments increased by 77.19% to CNY 1,136,028,626.55, mainly due to an increase in advance payments for equipment procurement[17] - Other receivables rose by 35.40% to CNY 847,203,463.06, attributed to an increase in financing lease deposits and receivables[17] - The company's construction in progress increased by 46.33% to CNY 5,733,230,122.61, reflecting higher investment in construction projects[17] - Cash received from other investment activities increased by 776.38% to CNY 1,487,306,228.29, primarily due to an increase in repayments of entrusted loans[22] - Cash absorbed from investments rose by 498.89% to CNY 53,900,000.00, driven by increased capital contributions from minority shareholders[22] - The company’s deferred income increased by 47.14% to CNY 209,827,403.50, mainly due to an increase in government subsidies received[18] - The company’s tax payable decreased by 40.43% to CNY 81,004,918.61, primarily due to a reduction in payable value-added tax and income tax[18] Corporate Governance and Compliance - The company has committed to maintaining independence and compliance with regulations regarding related party transactions and asset management[27] - The company reported that the major asset restructuring will not involve any violations of fund occupation or guarantees by related parties[29] - The company plans to integrate its domestic power generation assets into a single listed platform following the major asset restructuring[29] - The company will inject the "Datar Power Phase II" project into its operations within 24 months after obtaining the necessary approvals[29] - The company has a commitment to avoid any competition with its main business of power production and sales post-restructuring[30] - The company will ensure that all related transactions are conducted at market prices and in compliance with relevant laws and regulations[27] - The company has established a project company to oversee the construction and approval of the Datar Power Phase II project[27] - The company will select appropriate timing to inject the 49.5MW wind power project into its operations within 24 months of obtaining the necessary approvals[29] - The company has pledged to bear all economic losses resulting from any violations of its commitments[27] - The company will adhere to strict voting obligations to avoid conflicts of interest during shareholder meetings related to related party transactions[30] Land and Property Rights - The company reported a commitment from the coal group to ensure that the land rights for the Taishan Power Plant are secured, with a total area of 29.01 million square meters (approximately 435.13 acres) currently in use[31] - The coal group has guaranteed that any losses incurred by the company due to the failure to obtain land ownership certificates will be compensated[31] - The company is currently in the process of obtaining property ownership certificates for five properties related to Wangping Power Plant and Taishan Power Plant, with four properties already secured[33] - The coal group has pledged to bear all legal responsibilities for the commitments made regarding land and property rights[33] Miscellaneous - The company has not engaged in any securities or derivative investments during the reporting period[35][36] - There are no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[39][40] - The company anticipates a significant change in net profit compared to the previous year, but specific figures are not disclosed[35] - The company has committed to assist in the temporary suspension of the first phase of the Datang Thermal Power Plant to mitigate potential impairment risks[31] - The company has conducted multiple communications to understand its operational status during the reporting period[37] - The company’s chairman, Wen Shengyuan, signed off on the report dated October 30, 2017[41]

Financial Performance - Operating revenue for Q1 2018 was CNY 2,700,037,725.30, an increase of 28.72% compared to CNY 2,097,592,793.39 in the same period last year[8] - Net profit attributable to shareholders was a loss of CNY 342,950,886.80, representing a decline of 47.07% from a loss of CNY 233,192,768.73 in the previous year[8] - The net cash flow from operating activities increased by 234.61%, reaching CNY 474,890,389.62 compared to CNY 141,923,842.05 in the same period last year[8] - Total assets at the end of the reporting period were CNY 47,540,421,312.70, a decrease of 1.79% from CNY 48,408,007,818.43 at the end of the previous year[8] - Net assets attributable to shareholders decreased by 4.75%, amounting to CNY 6,883,557,429.83 compared to CNY 7,226,508,316.63 at the end of the previous year[8] - The weighted average return on equity was -4.86%, a decrease of 2.27 percentage points from -2.72% in the previous year[8] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 145,650[12] - The largest shareholder, Datong Coal Mine Group, held 27.45% of the shares, amounting to 844,653,683 shares[12] Cash Flow and Expenses - Cash and cash equivalents decreased by 31.38% to ¥3,033,385,071.63 compared to the beginning of the year, primarily due to increased cash payments for loan repayments[17] - Prepayments increased by 62.64% to ¥541,684,812.53, mainly due to an increase in prepaid fuel payments[17] - Long-term deferred expenses rose by 90.83% to ¥91,378,444.81, attributed to higher land lease fees[17] - Accounts payable increased by 134.95% to ¥1,470,890,911.65, as the company increased the use of notes for payment[17] - Tax expenses increased by 49.73% to ¥27,771,534.42, due to the reclassification of water resource fees into tax expenses[18] - Financial expenses rose by 54.15% to ¥383,309,145.74, primarily due to increased borrowing interest[18] - Cash paid for fixed assets, intangible assets, and other long-term assets decreased by 69.21% to ¥445,819,521.81, due to reduced project expenditures[19] - Cash paid for debt repayment increased by 79.96% to ¥4,766,014,353.40, reflecting higher repayments of bank loans and short-term bonds[20] - Other cash payments related to investment activities increased by 284.44% to ¥221,894,079.42, mainly due to increased payments for external entrusted loans[20] - Unappropriated profits decreased by 79.69% to -¥773,299,529.17, primarily due to operational losses[17] Project Developments - Shanxi Zhangze Electric Power Co., Ltd. plans to inject the "Datong Thermal Power Phase II" project into the company within 24 months after obtaining the approval documents[30] - The company will also integrate the 49.5MW wind power project at the Shanyin Zhinvquan Wind Farm into its operations within 24 months after receiving the necessary approvals[30] - The company emphasizes that it will avoid competition with the main electricity production and sales business of Zhangze Electric Power in its production and operation activities[30] Governance and Compliance - Shanxi Coal Group has committed to maintaining the independence of Zhangze Electric Power in terms of personnel, finance, assets, and business during its period as a controlling shareholder[27] - The company reported that Shanxi Coal Group will strictly adhere to relevant laws and regulations regarding related party transactions to protect the legal rights of shareholders[26] - Shanxi Coal Group has promised to bear all economic losses caused to Zhangze Electric Power due to violations of commitments regarding related party transactions[26] - The company is focused on ensuring compliance with the regulations governing external guarantees and related party transactions[29] - Shanxi Coal Group will not provide any illegal guarantees or engage in the illegal occupation of Zhangze Electric Power's funds[29] - The company is committed to maintaining its operational independence and will not engage in related party transactions that could harm its interests[26] Asset Management - The company aims to be the only listed platform for the integration of Shanxi Coal Group's domestic power generation assets[30] - The company is committed to compensating for any losses incurred due to the failure to obtain land ownership certificates, ensuring normal production operations are not affected[32] - The company has a total of 29.01 hectares (approximately 435.13 acres) of collective land currently in use for the second phase project, with compensation already in place for the land to be requisitioned[34] - The company anticipates that the first phase of the Datang Thermal Power project will need to be shut down within three months after the second phase commences, which poses a risk of asset impairment[34] - The company has received commitments from the coal group to assist in purchasing replacement capacity to mitigate the impact of the first phase shutdown[35] - The coal group has promised to handle any issues related to land use contracts and bear the associated costs if the contracts cannot be renewed[33] - The company is in the process of obtaining ownership certificates for five properties related to the Wangping and Tashan power plants, with four already secured[35] - The coal group has committed to ensuring that the company will not incur losses due to the failure to recognize impairment provisions for the first phase of the Datang Thermal Power project[34] - The company is actively involved in a major asset restructuring, with ongoing commitments from the coal group to support its operations[32] - The coal group has assured that any losses resulting from the failure to obtain land ownership certificates will be compensated[34] - The company is focused on maintaining its operational integrity and has received long-term commitments from the coal group to uphold these assurances[35] Non-Operating Funds - The company reported a total non-operating fund occupation amounting to 73,420.2 million CNY, with 51,905.4 million CNY being newly added during the reporting period[43] - The company has committed to repay 21,514.8 million CNY of non-operating funds by April 2018, which has been fully repaid as of the announcement date[44] - The non-operating fund occupation accounted for 3.13% of the most recent audited net assets[44] Compliance and Reporting - There were no securities or derivative investments during the reporting period[38][39] - The company has not engaged in any research, communication, or interview activities during the reporting period[40] - The company has no violations regarding external guarantees during the reporting period[41] - The company has made commitments to not harm its interests and to ensure compliance with its operational responsibilities[37] - There are no significant changes in net profit expected for the first half of 2018 compared to the same period last year[38] - The company has fulfilled all commitments made during its initial public offering and refinancing[37] - The company has not reported any non-compliance issues related to fund occupation during the reporting period[44]

Financial Performance - The company's operating revenue for the first half of 2017 was ¥4,282,756,347.11, representing a 14.63% increase compared to ¥3,736,056,719.09 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was -¥600,520,087.24, a decrease of 324.21% from -¥141,560,363.95 in the previous year[18]. - The net cash flow from operating activities was ¥853,822,928.97, showing a 6.42% increase from ¥802,337,112.92 in the previous year[18]. - The total assets at the end of the reporting period were ¥48,491,826,495.97, a slight decrease of 0.32% from ¥48,648,640,330.77 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company decreased by 9.98% to ¥8,209,837,339.26 from ¥9,119,655,626.50 at the end of the previous year[18]. - The weighted average return on net assets was -6.85%, a decrease of 4.5 percentage points compared to -2.04% in the previous year[18]. - The company reported a significant increase in non-current asset disposal gains of ¥293,238.24 during the reporting period[23]. - The company reported a total electricity generation of 140.18 billion kWh, with a revenue of CNY 4.389 billion, resulting in a loss of CNY 704 million for the first half of the year[32]. - The company’s operating revenue increased by 14.63% compared to the previous year, while operating costs rose by 30.15% due to higher coal prices[34]. - The company’s cash flow from operating activities was CNY 853.82 million, reflecting a 6.42% increase year-on-year[34]. - The company reported a net profit of -4,762.31 million CNY from the acquisition of Datong Coal Mine Group Tongda Thermal Power Co., Ltd., with the previous year's net profit being -4,849.63 million CNY[81]. - The company reported a total comprehensive loss for the current period was ¥737,868,978.21, compared to a loss of ¥173,054,972.86 in the previous period, highlighting ongoing financial challenges[133]. Investments and Projects - The construction in progress increased by 35.62%, mainly due to the acceleration of investment in thermal power and new energy projects[26]. - The company initiated the construction of a new inorganic material project with an annual production capacity of 300,000 tons of fly ash in May, which is significant for high-value development[32]. - The company has been actively involved in acquisitions, including a 60% stake in Tongmei Datang Tashan Power Co., Ltd. and a 95% stake in Datong Coal Mine Group Tonghua Power Co., Ltd.[156]. - The company is exploring financing options through asset securitization and corporate bonds to enhance direct financing capabilities[57]. - The company is committed to technological advancements, investing in new energy technologies to improve efficiency and sustainability[93]. Subsidiaries and Related Party Transactions - The company has acquired several subsidiaries, including Shanxi Hongwei New Energy Co., Ltd., which is currently in the construction phase and does not impact overall performance[53]. - The company’s subsidiary Shanxi Huaze Aluminum Power Co., Ltd. reported a net profit of CNY 47,796,947.63 with total assets of CNY 5,195,184,370.09[51]. - The company reported a total of 102,975.21 million CNY in related party transactions, accounting for 20.90% of similar transactions[79]. - The company purchased fuel from Datong Coal Mine Group for 40,551.56 million CNY, which is 20.90% of the total related transactions[79]. - The company accepted transportation services from Datong Coal Mine Group for 7,274.47 million CNY, representing 72.74% of the total related transactions[79]. Financial Position and Liabilities - The total liabilities increased from ¥37,519,505,031.35 to ¥38,410,243,838.67, representing a growth of approximately 2.38%[125]. - The company's long-term borrowings increased to CNY 11.95 billion, accounting for 24.64% of total liabilities, up from 22.71% the previous year[40]. - The total amount of guarantees approved during the reporting period was CNY 153,116.21 million, while the actual guarantees amounted to CNY 91,178.45 million[94]. - The total amount of guarantees exceeding 50% of net assets was CNY 367,201.3 million[94]. - The company’s total liabilities at the end of the reporting period were 582,657,000 CNY, indicating a stable financial position[146]. Market and Operational Strategies - In the second half of 2017, the company aims to enhance electricity marketing and production, ensuring the completion of the annual power generation target[56]. - The company plans to actively engage in direct trading with large users within the province and increase electricity generation hours[56]. - The company is focusing on reducing curtailment losses in new energy projects and maximizing production capacity through market electricity trading[57]. - The company intends to expand its heating market and improve heating revenue, particularly in Linfen, leveraging local government initiatives[57]. - The company is collaborating with high-tech enterprises to promote the application of advanced technologies[57]. Compliance and Governance - Shanxi Zhangze Electric Power Co., Ltd. committed to maintaining independence and compliance with regulations regarding related party transactions after the completion of the major asset restructuring[67]. - The company reported that the major asset restructuring will not involve any violations of fund occupation or guarantees provided to related parties[67]. - The company has not faced any penalties or rectification issues during the reporting period[76]. - The company has not undergone any bankruptcy restructuring during the reporting period[75]. - The company has committed to ensuring that the land use rights for the Ta Shan Power Plant are secured, with 56 acres already included in the planning for the second phase project[69]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 154,256[108]. - Datong Coal Mine Group holds 27.45% of the shares, with a total of 844,653,683 shares, and has pledged 161,750,000 shares[108]. - The company experienced an increase in total shares due to a non-public offering, resulting in a total share capital of 3,076,942,219 shares[102]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period[111]. - The company has a total of 299,130,000 shares held by the Shanxi Provincial Government State-owned Assets Supervision and Administration Commission, representing 9.72% of the shares[108]. Risks and Challenges - The company faces significant risks including overcapacity in the power sector, rising coal prices, and increasing environmental regulations, with coal prices expected to remain high throughout the year[55]. - The company has acknowledged the risk of impairment for the first phase of the Datang Thermal Power Plant, committing to assist in obtaining approval to delay its shutdown[71]. - The company anticipates a significant change in net profit compared to the same period last year, but specific reasons were not disclosed[54]. - The company has not engaged in any significant asset or equity sales during the reporting period[47][48]. - The company has not made any securities or derivative investments during the reporting period[45][46].

Financial Performance - The company's operating revenue for 2017 was ¥9,520,452,334, representing a 7.70% increase compared to ¥8,258,167,237 in 2016[18] - The net profit attributable to shareholders was -¥1,556,351,364, a significant decrease of 2,163.57% from ¥85,623,969.31 in 2016[18] - The net cash flow from operating activities was ¥1,157,728,878, down 25.48% from ¥1,198,614,063 in the previous year[18] - The total assets at the end of 2017 were ¥48,408,007,818, a slight decrease of 0.49% from ¥45,396,213,520 in 2016[19] - The net assets attributable to shareholders decreased by 20.76% to ¥7,226,508,316 from ¥8,818,414,366 in 2016[19] - The basic earnings per share for 2017 was -¥0.5058, a decline of 1,656.31% from ¥0.037 in 2016[19] - The company reported a net loss in each quarter of 2017, with the fourth quarter loss reaching -¥579,948,608.86[23] - The company reported a net loss of approximately CNY 1.56 billion in 2017, with no cash dividends distributed to shareholders[103] - The company has not proposed any cash dividend distribution plans for the past three years, reflecting ongoing financial challenges[104] Revenue Sources - The electricity segment generated ¥7.19 billion, accounting for 75.49% of total revenue, with a year-on-year growth of 6.76%[45] - The company achieved a profit contribution of approximately ¥100 million from non-electric businesses, including power engineering and energy-saving services[42] - The revenue from photovoltaic power increased by 192.08% to ¥322.65 million, indicating strong growth in this segment[48] - The sales volume of electricity increased by 1.90% to 2,611,238.45 million kWh in 2017, while production volume rose by 1.87% to 2,894,404.31 million kWh[49] Investments and Projects - The company has expanded its investment in renewable energy projects, with a total investment of ¥1,413,888,923.92 in new energy technology and services[73] - The company is actively pursuing projects such as the Tashan Phase II power generation project and the Shonan thermal power project, which are expected to enhance its operational capacity[105] - The company has ongoing projects including a 100MWp photovoltaic power project and a 10MWp distributed photovoltaic project, which are awaiting completion and operational status[105] - The company is focusing on expanding its renewable energy strategy through mergers and acquisitions, including several solar and wind power companies, to enhance its power generation structure and profitability[89] Cost Management and Efficiency - The company is focusing on cost control by establishing a standard cost management system and prioritizing fuel management to reduce operational costs[94] - The company achieved a reduction of 286 million CNY in depreciation expenses by changing the depreciation method[39] - The gross profit margin for the electricity segment decreased significantly to 39.44%, down from the previous year, reflecting increased costs[48] Environmental and Social Responsibility - The company is committed to advancing clean energy projects and enhancing ultra-low emission transformations[168] - The company has established emergency response plans and self-monitoring schemes for environmental incidents at all power plants[168] - The company achieved compliance with environmental standards across all 11 power plants, ensuring normal operation of pollution control facilities[166] - The company actively fulfilled its social responsibilities, including environmental protection and employee welfare, in accordance with relevant laws and regulations[159] Shareholder and Governance Structure - The total number of shares increased to 3,076,942,800 due to a non-public stock issuance, with 823,204,419 shares issued[172] - The company maintains a stable shareholder structure with no significant changes in the actual controller relationships[180] - The company’s major shareholder, Datong Coal Mine Group, holds 164,640,883 shares following a non-public stock issuance[174] - The company has committed to linking the compensation system for executives to the company's performance measures, enhancing accountability[116] Risk Management and Future Outlook - The company has identified major risk factors and countermeasures in its future development outlook[5] - The company is facing a challenging environment in 2018, with high coal prices expected to persist and limited potential for electricity price adjustments[91] - The company aims to enhance its industrial structure by advancing renewable energy projects and extending its downstream industrial chain[98] Employee and Training Initiatives - The company employed a total of 8,729 staff, with 4,082 in the parent company and 4,647 in major subsidiaries[197] - The training plan aims to support the company's development goals and enhance talent structure through targeted training initiatives[200] - The professional composition of employees includes 6,282 production personnel, 1,793 technical personnel, 249 financial personnel, and 338 administrative personnel[198]

Financial Performance - Total assets at the end of the reporting period reached ¥50.38 billion, an increase of 3.57% compared to the previous year[8] - Net assets attributable to shareholders decreased to ¥7.84 billion, down 11.03% from the previous year[8] - Operating revenue for the reporting period was ¥2.55 billion, an increase of 8.33% year-on-year[8] - Net profit attributable to shareholders was a loss of ¥375.88 million, a decrease of 547.58% compared to the same period last year[8] - Basic earnings per share were -¥0.1221, reflecting a decline of 427.35% year-on-year[8] - Cash flow from operating activities decreased by 67.64% year-to-date, totaling ¥690.98 million[8] - The company reported non-recurring gains and losses totaling -¥5.19 million for the reporting period[10] - Operating costs for the period amounted to CNY 6,966,289,914.70, an increase of 33.52% year-on-year, primarily due to rising coal costs[20] - The company reported a decrease in undistributed profits by 86.71% to CNY 149,599,966.49, mainly due to losses incurred[19] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 151,458[12] - The largest shareholder, Datong Coal Mine Group, holds 27.45% of the shares, totaling 844.65 million shares[12] Cash and Investments - As of September 30, 2017, cash and cash equivalents decreased by 35.85% to CNY 4,137,912,823.05 compared to the beginning of the year, primarily due to increased construction project expenditures[17] - Cash received from other investment activities increased by 776.38% to CNY 1,487,306,228.29, primarily due to an increase in repayments of entrusted loans[22] - Cash absorbed from investments rose by 498.89% to CNY 53,900,000.00, driven by increased capital contributions from minority shareholders[22] Assets and Liabilities - Prepayments increased by 77.19% to CNY 1,136,028,626.55, mainly due to an increase in advance payments for equipment procurement[17] - Other receivables rose by 35.40% to CNY 847,203,463.06, attributed to an increase in financing lease deposits and receivables[17] - The company's construction in progress increased by 46.33% to CNY 5,733,230,122.61, reflecting higher investment in construction projects[17] - The company’s deferred income increased by 47.14% to CNY 209,827,403.50, mainly due to an increase in government subsidies received[18] - The company’s non-current liabilities due within one year increased by 30.78% to CNY 4,001,558,238.83, primarily due to an increase in long-term payables due within one year[18] Commitments and Compliance - The company reported a commitment from the coal group to ensure independence and compliance with regulations, stating that all rights and obligations during the construction of the second phase of the Datang project will be borne by the coal group[27] - The coal group will inject the Datang project into Zhangze Electric within 24 months after obtaining the approval documents[28] - The coal group has committed to avoiding any related party transactions that could harm the interests of Zhangze Electric and its shareholders[29] - The company will serve as the only listed platform for the coal group's domestic power generation asset integration following the major asset restructuring[29] - The coal group will ensure that no competitive conflicts arise with Zhangze Electric's main business of power production and sales[30] - The company is expected to maintain operational independence in personnel, finance, assets, and business[29] - The coal group has pledged to comply with relevant laws and regulations regarding external guarantees and will not provide any illegal guarantees[28] - The coal group is liable for any economic losses incurred by Zhangze Electric due to violations of the commitments made[27] Project Developments - The company anticipates the approval of the 49.5MW wind power project within 24 months, with plans for its integration into Zhangze Electric[30] - Shanxi Zhangze Power's major asset restructuring includes commitments from the coal group to ensure land ownership certificates are obtained for key projects, with a focus on the Tashan Power Plant and Tangshan Thermal Power Plant[31] - The company reported a significant area of collective land usage of 29.01 million square meters (approximately 435.13 acres) for the Tonghua Power Plant, with plans for future land acquisition for project expansion[31] - The coal group has committed to compensating for any losses incurred by Zhangze Power due to delays in obtaining land ownership certificates, ensuring operational continuity[31] - The company anticipates potential impairment risks associated with the shutdown of the first phase of the Tangshan Thermal Power Plant following the commissioning of the second phase, with commitments from the coal group to mitigate these risks[31] - There are ongoing efforts to secure property ownership certificates for five properties related to Wangping Power and Tashan Power, with assurances from the coal group regarding ownership disputes[33] Operational Integrity - The company has not engaged in any securities or derivative investments during the reporting period, maintaining a focus on core operations[35][36] - There were no violations regarding external guarantees or non-operational fund occupation by controlling shareholders during the reporting period[38][40] - The company has conducted multiple communications to understand production and operational conditions, indicating proactive engagement with stakeholders[37] - The company has not provided any profit warnings for the current fiscal year, indicating stable financial expectations[35] - The chairman of the board, Wen Shengyuan, confirmed the ongoing commitment to operational integrity and compliance as of October 30, 2017[41]

Financial Performance - The company's operating revenue for the reporting period was ¥4,282,756,347.11, an increase of 14.63% compared to ¥3,736,056,719.09 in the same period last year[18]. - The net profit attributable to shareholders was -¥600,520,087.24, representing a decrease of 324.21% from -¥141,560,363.95 in the previous year[18]. - The net cash flow from operating activities was ¥853,822,928.97, which is a 6.42% increase from ¥802,337,112.92 in the same period last year[18]. - The company reported a basic earnings per share of -¥0.1952, a decline of 210.83% compared to -¥0.0628 in the same period last year[18]. - The company achieved a total electricity generation of 14.018 billion kWh and reported a revenue of CNY 4.389 billion, resulting in a loss of CNY 704 million for the first half of the year[32]. - The company’s revenue increased by 14.63% compared to the same period last year, while operating costs rose by 30.15% primarily due to the increase in coal prices[34]. - The company reported a total investment of CNY 309,298,200, with a 51% ownership stake in Datong Coal Mine Group Tongda Thermal Power Co., Ltd. The investment resulted in a loss of CNY 35,761,267.20 for the period[44]. - The company reported a net profit of -4,762.31 million yuan from the acquired Datong Coal Mine Group Tongda Thermal Power Company prior to consolidation[81]. - The company reported a significant increase in financial expenses, which rose to ¥612,092,666.11 from ¥569,496,033.78, impacting overall profitability[132]. - The total comprehensive loss for the current period was ¥737,868,978.21, compared to a loss of ¥173,054,972.86 in the previous period, highlighting ongoing financial challenges[133]. Assets and Liabilities - The total assets at the end of the reporting period were ¥48,491,826,495.97, showing a slight decrease of 0.32% from the previous year's total of ¥48,648,640,330.77[18]. - The total liabilities rose from CNY 37,828,803,231.35 to CNY 38,410,243,838.67, an increase of about 1.54%[125]. - The company's total assets decreased from CNY 48,648,640,330.77 to CNY 48,491,826,495.97, a decline of about 0.32%[126]. - The total owner's equity decreased from CNY 10,819,837,099.42 to CNY 10,081,582,657.30, a reduction of approximately 6.83%[126]. - The total approved guarantee amount for subsidiaries during the reporting period was CNY 153,116.21 million, with actual guarantees amounting to CNY 91,178.45 million[94]. - The total amount of guarantees exceeding 50% of net assets was CNY 367,201.3 million[95]. - The total current assets decreased from CNY 12,543,196,645.71 to CNY 11,500,285,713.34, a decline of approximately 8.33%[124]. - The total equity decreased to ¥7,910,439,551.13 from ¥8,308,199,632.48, reflecting a decline in the company's net worth[132]. Investments and Acquisitions - The company has expanded its operations through acquisitions, including a 60% stake in Tongmei Datang Tashan Power Co., Ltd.[156]. - The company has a history of significant acquisitions, including the purchase of multiple power generation companies since 2013[156]. - The company has completed the acquisition of several subsidiaries, which are currently in the construction phase and do not impact overall performance[53]. - The company is actively developing new material projects, with a 300,000-ton per year fly ash inorganic material project having commenced construction in May[32]. Cash Flow - The cash flow from operating activities increased by 6.42% to CNY 853.82 million[34]. - Cash outflow from investment activities totaled ¥3,871,935,729.61, up from ¥2,580,079,585.47 in the previous period, reflecting a significant increase of approximately 50.1%[140]. - Cash inflow from financing activities was ¥8,513,861,464.99, down from ¥15,689,261,459.87 in the previous period, a decrease of about 45.7%[140]. - The ending balance of cash and cash equivalents was ¥3,667,740,618.38, compared to ¥3,073,861,548.05 in the previous period, showing an increase of approximately 19.3%[140]. - The net increase in cash and cash equivalents for the period was -¥4,150,671,715.96, compared to an increase of ¥855,529,710.88 in the previous period[143]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 154,256[108]. - Datong Coal Mine Group holds 27.45% of the shares, with a total of 844,653,683 shares, including an increase of 164,640,883 shares during the period[108]. - The total number of restricted shares at the end of the period was 823,204,419, all from non-public offerings[105]. - The company has a commitment to limit the sale of shares, with the release date for most being January 22, 2018[105]. - The company did not undergo any changes in its controlling shareholder or actual controller during the reporting period, maintaining stability in its ownership structure[111]. Operational Challenges and Strategies - The company faces significant risks including overcapacity in the power sector, rising coal prices, and increasing environmental regulations, with coal prices expected to remain high throughout the year[55]. - In the second half of 2017, the company aims to enhance electricity marketing and production, ensuring the completion of the annual power generation target[56]. - The company is focusing on reducing curtailment losses in new energy projects and maximizing production capacity through market electricity trading[57]. - The company is exploring financing channels through asset securitization and corporate bond issuance to enhance direct financing capabilities[57]. - The company is committed to cost control and efficiency improvement through a "fine management" initiative, aiming to reduce expenses and enhance management levels[57]. Regulatory and Compliance - The company has not experienced any major litigation or arbitration matters during the reporting period[76]. - There were no penalties or rectification measures taken against the company during the reporting period[76]. - The company has not engaged in any significant asset or equity sales during the reporting period[47][48]. - The company has not made any securities or derivative investments during the reporting period[45][46]. - The company is not classified as a key pollutant discharge unit by environmental protection authorities[98]. Financial Reporting and Audits - The semi-annual financial report for the company has not been audited[73]. - The financial report for the first half of 2017 was not audited, which may affect the reliability of the financial data presented[121]. - The company adheres to the accounting standards set by the Ministry of Finance, ensuring accurate financial reporting[169].

Financial Performance - The company's operating revenue for Q1 2017 was ¥1,873,851,771.92, representing a 33.00% increase compared to ¥1,408,950,753.72 in the same period last year[8] - The net profit attributable to shareholders of the listed company was -¥236,362,524.64, a decrease of 24.01% from -¥190,600,951.66 year-on-year[8] - The net cash flow from operating activities improved significantly to ¥8,554,200.25, compared to -¥389,184,620.03 in the previous year, marking a 102.20% increase[8] - The basic earnings per share for the period was -¥0.0768, an improvement of 9.22% from -¥0.0846 in the same period last year[8] - Total revenue for the period reached CNY 1,873,851,771.92, an increase of 33.00% compared to the previous year, primarily due to increased power generation[18] - Operating costs amounted to CNY 1,886,192,798.70, up 38.29% year-on-year, mainly driven by rising coal prices and increased fuel costs[18] - Cash received from sales of goods and services was CNY 1,874,621,045.40, reflecting a 30.36% increase from the previous year, attributed to higher sales revenue[18] Assets and Shareholder Information - Total assets at the end of the reporting period were ¥46,104,984,348.99, reflecting a 1.56% increase from ¥45,396,213,520.81 at the end of the previous year[8] - The net assets attributable to shareholders decreased by 2.68% to ¥8,582,051,842.30 from ¥8,818,414,366.94 at the end of the previous year[8] - The total number of ordinary shareholders at the end of the reporting period was 161,171[12] - The largest shareholder, Datong Coal Mine Group Co., Ltd., held 27.45% of the shares, amounting to 844,653,683 shares[12] Income and Expenses - The company reported non-operating income of ¥11,414,826.91, after accounting for tax effects and minority interests[9] - Other operating income surged by 81.98% to CNY 18,020,072.41, mainly due to increased rewards from the grid company[18] - Cash received from tax refunds increased by 61.66% to CNY 2,730,377.37, primarily due to higher VAT refunds received by the company[18] - Cash paid for other investment activities decreased by 95.58% to CNY 57,718,768.80, mainly due to reduced principal repayments for financing leases[19] - Interest payable rose by 36.31% to CNY 220,739,074.17, primarily due to an increase in unpaid interest[17] - Prepayments increased by 105.25% to CNY 20,514,176.84, mainly due to an increase in prepaid heating fees[17] Future Projects and Commitments - The company is actively pursuing new power generation projects, including a 20MWp photovoltaic project and several thermal power projects, which are expected to be operational within two years[21] - The company plans to inject the "Datar Power Phase II" project into Zhangze Power within 24 months after obtaining the approval documents[24] - The company has a wind power project, "Zhinvquan Wind Power Project," with a capacity of 49.5 MW, which will also be injected into Zhangze Power within 24 months after approval[24] Governance and Compliance - The company has committed to avoiding investments in competing businesses without authorization, ensuring operational independence[21] - The company has committed to maintaining independence from the controlling shareholder, ensuring no competition in the core business of power production and sales[25] - The company will prioritize the transfer of any competing business to Zhangze Power at a fair price if identified[25] - The company has committed to not providing any illegal guarantees or misusing Zhangze Power's funds[25] - The company has confirmed that it will avoid any related party transactions that could harm the interests of minority shareholders[25] - The company has stated that it will comply with all relevant laws and regulations regarding external guarantees and related party transactions[25] - The company has committed to ensuring that all transactions with related parties are conducted at market prices[25] - The company has undertaken to ensure that all land use rights for the "Tashan Power Plant" are secured and will bear any losses due to failure to obtain these rights[26] Operational Status and Inquiries - The company anticipates a significant change in net profit for the period from January to June 2017, potentially resulting in a loss compared to the same period last year[29] - There were no securities investments reported during the reporting period[29] - The company did not engage in any derivative investments during the reporting period[30] - The company received inquiries regarding its production and operational status on January 19, 2017, and March 7, 2017, through telephone communications[31] - There were no instances of non-compliance with external guarantees during the reporting period[32] - The company reported no non-operating fund occupation by controlling shareholders or their affiliates during the reporting period[33] Shareholder Commitments - The commitment from Datong Coal Mine Group to not transfer shares for 36 months from the listing date is still in effect[28] - The company is in the process of obtaining property ownership certificates for several assets, ensuring no ownership disputes exist[28] - The company has made commitments to avoid unfair benefit transfers to other entities or individuals[28] - The company continues to fulfill its long-term commitments without any reported losses affecting normal operations[28]

Financial Performance - The company's operating revenue for 2016 was ¥8,258,167,237.14, a decrease of 9.23% compared to ¥9,097,494,935.90 in 2015[19]. - The net profit attributable to shareholders for 2016 was ¥85,623,969.31, down 79.21% from ¥411,882,460.09 in 2015[19]. - The net cash flow from operating activities decreased by 56.84% to ¥1,198,614,063.86 in 2016 from ¥2,777,347,127.70 in 2015[19]. - The basic earnings per share for 2016 was ¥0.037, a decline of 79.44% compared to ¥0.180 in 2015[19]. - Power generation revenue decreased by 20.16% to ¥6,222,954,773.65, accounting for 75.36% of total revenue[39]. - Coal-fired power revenue saw a significant decline of 22.25%, totaling ¥5,957,018,226.90, which represented 72.13% of total power revenue[39]. - The company reported a substantial increase in coal revenue, rising by 874.44% to ¥445,793,980.99, contributing 5.40% to total revenue[39]. - The total sales volume of electricity decreased by 12.21% to 2,365,583.99 million kWh, while production volume also fell by 12.09% to 2,618,400.93 million kWh[44]. - The company’s gross profit margin for the power sector was 14.56%, down from the previous year, with operating costs decreasing by 8.27%[43]. Assets and Investments - Total assets at the end of 2016 increased by 36.75% to ¥45,396,213,520.81 from ¥33,195,953,201.67 at the end of 2015[19]. - The net assets attributable to shareholders rose by 52.46% to ¥8,818,414,366.94 at the end of 2016 from ¥5,783,906,718.97 at the end of 2015[19]. - Long-term equity investments increased by 19.64% year-on-year, primarily due to an investment of 100 million CNY in a joint venture[31]. - Fixed assets grew by 15.03% year-on-year, mainly due to the completion of the 2*35 MW thermal power project and the Zhinvquan wind power project[31]. - Cash and cash equivalents increased by 172.73% year-on-year, primarily due to funds raised from a non-public stock issuance[31]. Operational Challenges and Strategies - The company reported a significant decline in net profit due to various operational challenges and market conditions[19]. - The company continues to focus on improving operational efficiency and exploring new market opportunities[19]. - The company has identified major risk factors in its future development and has outlined corresponding countermeasures[5]. - The company plans to enhance operational efficiency by focusing on cost control, particularly in fuel procurement, to maintain competitive pricing[76]. - Environmental regulations are tightening, with increased scrutiny on emissions and a national carbon trading market being established, impacting operational strategies[75]. Dividends and Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The company has not distributed any cash dividends over the past three years, with net profits of approximately CNY 85.62 million in 2016, CNY 411.88 million in 2015, and CNY 600.60 million in 2014, all with a 0% dividend payout ratio[85]. - The largest shareholder, Datong Coal Mine Group Co., Ltd., holds 30.17% of the shares, totaling 680,012,800 shares[144]. - The second largest shareholder, Shanxi Provincial Government State-owned Assets Supervision and Administration Commission, holds 13.27% of the shares, totaling 299,130,000 shares[144]. - The third largest shareholder, State Power Investment Corporation, holds 12.41% of the shares, totaling 279,758,170 shares[144]. Innovation and Development - The company received 3 utility model patents and 5 invention patents during the year, reflecting its commitment to technological innovation[37]. - The company aims to actively participate in power distribution reforms to extend its power generation industry chain[36]. - The company is focusing on innovation and efficiency improvements to achieve its annual targets and drive transformation[76]. - The company is exploring the "coal-electric-X" development model, particularly in the Yongji region, to integrate coal, electricity, and aluminum industries[77]. - The company is focusing on technological innovation, including the development of energy-saving monitoring technologies and advanced zero-emission technologies for desulfurization wastewater[78]. Financial Management and Governance - The company has a structured governance framework with a mix of experienced professionals in key positions, ensuring effective oversight and management[157][159]. - The total remuneration for directors, supervisors, and senior management in 2016 amounted to CNY 4.6299 million[162]. - The company has a well-defined internal control system that enhances risk management and internal control standards[174]. - The audit opinion for Shanxi Zhangze Electric Power Co., Ltd. is a standard unqualified opinion, indicating that the financial statements fairly reflect the company's financial position as of December 31, 2016[198]. - The financial statements were prepared in accordance with the Chinese Accounting Standards, ensuring fair representation of the company's financial results for the year 2016[198]. Employee and Talent Management - The company employed a total of 8,788 staff, with 6,327 in production roles and 1,805 in technical positions[165]. - The number of employees with a bachelor's degree or higher reached 2,171, representing approximately 24.7% of the total workforce[165]. - The company has established a rigorous training plan to improve the skills of its workforce, focusing on critical positions and urgent needs[168]. - The company plans to enhance training for management and technical staff to support its development goals[168]. - A minimum of 10 skill competitions or job training activities will be organized throughout the year to enhance practical skills[170]. Risk Management and Compliance - The company has committed to strict safety and environmental standards, implementing a "one-vote veto" system for safety and environmental issues, and increasing accountability measures[77]. - The company is focused on complying with regulations regarding related party transactions to protect the interests of minority shareholders[89]. - The company has not experienced any significant accounting errors requiring retrospective restatement during the reporting period[99]. - The company has not changed its accounting policies, estimates, or methods compared to the previous financial report[98]. - The company has no outstanding bonds that are due or unable to be fully redeemed as of the annual report approval date[193].

Financial Performance - Total assets at the end of the reporting period reached ¥40.53 billion, an increase of 22.10% compared to the previous year[6]. - Operating revenue for the reporting period was ¥2.30 billion, a decrease of 2.57% year-on-year, and cumulative revenue for the year was ¥5.75 billion, down 17.03%[6]. - Net profit attributable to shareholders was ¥117.16 million, a decline of 33.51%, with a cumulative net profit of only ¥330,698.81, down 99.94%[6]. - The basic earnings per share for the reporting period was ¥0.0520, reflecting a decrease of 33.50%[6]. - The weighted average return on net assets was 2.02%, down 1.15% from the previous year[6]. Cash Flow and Investments - The company reported a net cash flow from operating activities of ¥1.95 billion, an increase of 33.35% year-to-date[6]. - Cash received from operating activities increased by 1,097.54% to ¥1,558,564,821.64, mainly due to increased cash inflows from leasing replacement business[18]. - Cash paid for the acquisition of fixed assets increased by 141.23% to ¥4,205,727,775.41, reflecting higher expenditures on ongoing projects[20]. - Investment income for the period increased by 289.37% to ¥148,570,402.46, driven by higher profits from associated enterprises[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 167,387[11]. - The largest shareholder, Datong Coal Mine Group, holds 30.17% of the shares, totaling 680,012,800 shares[11]. Borrowings and Liabilities - As of September 30, 2016, cash and cash equivalents increased by 77.62% to ¥4,070,601,837.19 compared to the beginning of the year, primarily due to increased bank borrowings[15]. - Short-term borrowings increased by 30.62% to ¥5,573,200,000.00, attributed to higher bank loans[16]. - Long-term borrowings increased by 46.05% to ¥10,821,207,507.53, also due to increased bank loans[16]. - Other payables increased by 39.90% to ¥1,641,410,589.15, mainly due to increased warranty and receivable amounts[16]. - Other current liabilities rose by 50.00% to ¥3,000,000,000.00, attributed to an increase in short-term payables[16]. Government Support - The company received government subsidies amounting to ¥25.73 million during the reporting period[8]. Compliance and Commitments - There were no significant changes in the accounting policies or errors that required restatement of previous financial data[6]. - The company will ensure independence and compliance in operations, with commitments to avoid conflicts of interest during major asset restructuring[27]. - The company will strictly adhere to regulations regarding related party transactions and external guarantees, ensuring no violations occur[27]. - The company has committed to maintaining independence in personnel, finance, assets, and operations while being a controlling shareholder[27]. - The company will ensure that all related transactions are conducted at market prices and in compliance with legal requirements[27]. - The company has undertaken to bear all economic losses caused by violations of commitments related to related party transactions[27]. - The company will not provide guarantees for the controlling company or its affiliates, ensuring compliance with relevant regulations[27]. - The company will continue to fulfill its commitments regarding the independence and operation of Zhangze Power[27]. Project Developments - The company plans to establish a project company to continue the construction and approval of the Datang Phase II project[25]. - The company will select an appropriate time and method to inject the Datang Phase II project into Zhangze Power within 24 months after obtaining approval documents[25]. - The company has committed to transferring the 49.5MW wind power project at the Shanyin Zhinvquan Wind Farm to Zhangze Power within 14 months after obtaining the required approvals[29]. - The company has guaranteed that the assets of Wangping Power, Tashan Power, and Datang Thermal Power will not face ownership disputes, and it will assume responsibility for any losses caused by the lack of ownership certificates[33]. Future Expectations - The company has indicated that it does not expect significant changes in net profit for the year compared to the previous year[34]. - The company reported no involvement in securities or derivative investments during the reporting period[35][38]. - The company has conducted multiple communications and site visits with institutions to discuss its overall business situation and development plans[36]. - The company has no record of any non-compliance in external guarantees during the reporting period[37]. - There are no non-operating fund occupations by controlling shareholders or related parties reported during the period[38].