河南豫能控股股份有限公司 2019 年第一季度报告全文 河南豫能控股股份有限公司 2019 年第一季度报告 2019 年 04 月 1 河南豫能控股股份有限公司 2019 年第一季度报告全文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人赵书盈、主管会计工作负责人王崇香及会计机构负责人(会计主 管人员)王殿振声明：保证季度报告中财务报表的真实、准确、完整。 2 河南豫能控股股份有限公司 2019 年第一季度报告全文 会计政策变更的原因及会计差错更正的情况 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 √ 是 □ 否 追溯调整或重述原因 会计差错更正 | --- | --- | --- | --- | --- | |-----------------------------------------------------|-------------------|------------- ...

河南豫能控股股份有限公司 2018 年年度报告全文 河南豫能控股股份有限公司 2018 年年度报告 2019 年 04 月 1 河南豫能控股股份有限公司 2018 年年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连 带的法律责任。 公司负责人赵书盈、主管会计工作负责人王崇香及会计机构负责人(会计主 管人员)王殿振声明：保证年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本报告的董事会会议。 本报告涉及未来计划等前瞻性陈述部分，不构成公司对投资者的实质性承 诺，请投资者注意投资风险。 《证券时报》和巨潮资讯网（http:/www.cninfo.com.cn）为本公司的指定信 息披露媒体，本公司所发布信息均以上述媒体刊登的为准，敬请投资者注意投 资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 董事长：赵书盈 2 河南豫能控股股份有限公司 2018 年年度报告全文 目录 | --- | |---------------------------------- ...

Financial Performance - Operating revenue for the reporting period was ¥2.80 billion, reflecting a year-on-year increase of 5.96%[8] - Net profit attributable to shareholders decreased by 94.90% to ¥7.27 million, with a year-to-date loss of ¥304.87 million, a decline of 425.35%[8] - Basic earnings per share were ¥0.0063, down 95.04% compared to the same period last year[8] - The weighted average return on net assets was 0.12%, a decrease of 2.23% from the previous year[8] - Cash flow from operating activities decreased by 55.21% year-to-date, totaling ¥417.72 million[8] - Net profit for the first nine months of 2018 was -¥395,802,842.18, a decrease of 590.60% compared to the same period last year, attributed to reduced profitability in thermal power operations and the absence of non-recurring gains[23] Assets and Liabilities - Total assets at the end of the reporting period reached ¥22.23 billion, an increase of 6.38% compared to the end of the previous year[8] - The company reported a significant increase in deferred tax assets, which rose by 147.57% to ¥244,569,767.09, due to losses recognized by subsidiaries[18] - The company’s total liabilities increased, with other current liabilities rising by 32.66% to ¥58,581,584.62, mainly due to increased tax payable by a subsidiary[18] - The company’s retained earnings at the end of the period were -¥273,267,500.57, a decrease of 964.84% from the beginning of the period, reflecting losses in thermal power operations[19] Cash Flow - Cash and cash equivalents at the end of the period amounted to ¥1,124,183,078.38, an increase of 50.07% compared to the beginning of the period, primarily due to bank loans received by subsidiaries[17] - The net cash flow from operating activities for the first nine months of 2018 was ¥417,718,860.56, a decrease of 55.21% year-on-year, primarily due to rising coal procurement costs[24] - The company’s investment activities generated a net cash flow of -¥925,725,231.91, an improvement of 30.38% compared to the previous year, as there were no significant acquisitions this period[27] - The net cash flow from financing activities for the first nine months of 2018 was ¥666,963,125.98, a decrease of 38.23% compared to ¥1,079,773,001.46 in the same period last year, primarily due to the absence of non-public stock issuance this period[16] - The net increase in cash and cash equivalents for the first nine months of 2018 was ¥158,956,754.63, down 76.72% from ¥682,734,425.38 in the same period last year, attributed to lower settlement electricity prices and higher coal procurement costs[16] Shareholder Information - The total number of shareholders at the end of the reporting period was 36,327[12] - The largest shareholder, Henan Investment Group Co., Ltd., holds 64.20% of the shares, totaling 738.70 million shares[12] Operational Developments - The company did not report any significant new product developments or market expansion strategies during this period[8] - Construction in progress at the end of the period reached ¥1,758,703,534.02, a 71.92% increase from the beginning of the period, driven by increased investments in logistics and wind power projects[17] - Operating costs for the first nine months of 2018 were ¥7,286,739,526.33, a 33.72% increase year-on-year, mainly due to higher coal prices and increased coal trade revenue[20] Other Developments - The company reported non-recurring gains and losses totaling ¥13.06 million for the reporting period[10] - The company suspended the planned financing lease (sale-leaseback) business with ICBC Financial Leasing due to rising funding costs, which prevented the signing of the agreement[29] - Prepayments at the end of the period were ¥203,908,650.66, up 40.91% from the beginning of the period, mainly due to increased coal procurement prepayments by a subsidiary[17]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 4,434,364,908.57, representing a 38.46% increase compared to CNY 3,202,726,587.58 in the same period last year[10]. - The net profit attributable to shareholders of the listed company was a loss of CNY 312,136,629.19, a significant decline of 539.43% from a loss of CNY 48,814,789.58 in the previous year[10]. - The net cash flow from operating activities decreased by 38.32% to CNY 246,579,536.41, down from CNY 406,281,595.33 in the same period last year[10]. - The total assets at the end of the reporting period were CNY 21,545,282,764.92, reflecting a 3.11% increase from CNY 20,896,357,015.95 at the end of the previous year[10]. - The net assets attributable to shareholders of the listed company decreased by 4.91% to CNY 6,041,443,873.94, compared to CNY 6,353,580,503.13 at the end of the previous year[10]. - The basic earnings per share were reported at -CNY 0.2713, a decline of 519.41% from -CNY 0.0438 in the previous year[10]. - The weighted average return on net assets was -5.04%, a decrease of 4.22% compared to -0.82% in the same period last year[10]. - The company reported a significant increase in non-recurring losses, with a net profit excluding non-recurring items at -CNY 321,598,401.96, a 124.28% decline from -CNY 143,389,240.98 in the previous year[10]. - The company achieved operating revenue of CNY 4.434 billion but reported a net loss attributable to the parent company of CNY 312 million during the reporting period[26]. - The company reported a net loss of CNY 280.54 million for the period, compared to a profit of CNY 31.60 million at the beginning of the period[129]. Operational Developments - The installed capacity of the company's operating thermal power projects is 6,340 MW, with a focus on expanding heating market services[19]. - The company increased its construction in progress by 46.84% compared to the beginning of the period, mainly due to investments in logistics and wind power projects[22]. - The company has approved wind power projects totaling 416 MW, with the first wind turbine expected to be connected to the grid by the end of 2018[20]. - The company is actively pursuing market opportunities in the coal logistics sector, aiming to establish new profit support points through innovative business models[20]. - The company is focusing on environmental protection and energy technology services, enhancing its capabilities through partnerships and technological advancements[21]. - The company is accelerating the development of new energy projects, with the Tongbai Phoenix 100 MW wind power project already under construction and expected to be operational by the end of the year[28]. Market Environment - The company is navigating a challenging market environment, with coal prices remaining high and a significant impact on performance due to its heavy reliance on thermal power assets[27]. - The company's operating revenue increased by 38.46% year-on-year to approximately CNY 4.43 billion, primarily due to rapid growth in coal trading with external customers[32]. - Operating costs rose by 47.87% year-on-year to approximately CNY 4.68 billion, attributed to the same rapid growth in coal trading[32]. - The company reported a significant increase in income tax expenses, up 202.37% year-on-year, primarily due to deferred tax asset recognition from loss-making subsidiaries[32]. - The company anticipates a slowdown in electricity demand growth in Henan province, which may affect profitability if power generation hours decrease[56]. - The company is facing risks from declining comprehensive electricity prices due to market reforms, impacting profit margins in the thermal power sector[58]. Financial Management - The company plans to enhance coal sourcing and procurement management to mitigate risks associated with fluctuating raw material prices[55]. - The company is focusing on cost reduction and efficiency improvement, with a comprehensive approach to energy conservation and cost control[29]. - The company's cash and cash equivalents decreased by 90.46% year-on-year, primarily due to the absence of fundraising activities compared to the previous year[32]. - The proportion of accounts receivable increased by 6.37% year-on-year, indicating a potential rise in credit risk[39]. - The company plans to increase the borrowing limit from Henan Investment Group from CNY 2.5 billion to CNY 3 billion to meet operational funding needs[76]. Shareholder and Governance - The company held four shareholder meetings during the reporting period, with participation rates of 64.32%, 64.31%, 64.37%, and 67.10% respectively[61]. - The company plans not to distribute cash dividends, issue bonus shares, or convert capital reserves into share capital for the semi-annual period[62]. - The company has committed to avoiding competition with Henan YN Holdings and has been fulfilling this commitment since 2009[63]. - The investment group remains the controlling shareholder of the company following the completion of a significant asset restructuring in 2017[65]. - The company maintains its independence in operations, assets, finance, and personnel, ensuring a complete business system[65]. - The company has not reported any significant changes in shareholder structure or stock changes in the first half of 2018[103]. Environmental Compliance - The company has achieved a total sulfur dioxide emission of 924 tons per year, with a concentration of 17.53 mg/m3, complying with national standards for coal-fired power plants[90]. - The company has implemented ultra-low emission modifications for its power generation units, achieving compliance with the "ultra-low emission" standards set by environmental authorities[91]. - The company has maintained a 100% wastewater compliance rate, with all treated wastewater reintegrated into the industrial water system[93]. - The company has a solid waste utilization rate of 100%, with comprehensive disposal of fly ash and desulfurization gypsum[93]. - The company has received the "Green Enterprise" honor from Nanyang City for its commitment to environmental protection and management[91]. - The company has reported a 99% compliance rate for environmental indicators during the reporting period[93]. Accounting and Reporting - The financial report was approved by the board of directors on August 29, 2018, ensuring compliance with regulatory requirements[169]. - The company adheres to the enterprise accounting standards, ensuring that the financial statements accurately reflect the financial position as of June 30, 2018, and the operating results and cash flows for the first half of 2018[174]. - The company did not conduct an audit for the semi-annual financial report[67]. - The semi-annual report does not contain any non-standard audit report[68]. - The company has not reported any new capital contributions from shareholders during this period[150]. Related Party Transactions - The total amount of related party transactions for the first half of 2018 reached 54,513.03 million CNY, with a total approved amount of 279,129 million CNY[72]. - The procurement transaction with Henan Lian'an Industrial Co., Ltd. amounted to 36.65 million CNY, accounting for 0.36% of the same type of transaction[71]. - The sales transaction with Puyang YN Power Generation Co., Ltd. was 33,197.16 million CNY, representing 22.30% of the total sales transactions[71]. - The company has not engaged in any related party transactions with the fuel company post-restructuring[65]. - The company ensures that all transactions are conducted on an equal and voluntary basis, adhering to fair pricing standards[65].

Financial Performance - The company's operating revenue for Q1 2018 was ¥2,410,108,145.54, representing a 41.59% increase compared to ¥1,702,233,903.60 in the same period last year[8] - The net profit attributable to shareholders was -¥201,349,163.44, a decrease of 69.37% from -¥118,879,958.19 year-on-year[8] - The net cash flow from operating activities decreased by 35.25% to ¥60,803,731.95 from ¥93,906,963.08 in the previous year[8] - The basic earnings per share for the reporting period was -¥0.1750, a decline of 58.51% from -¥0.1104 in the previous year[8] - The weighted average return on net assets was -3.22%, down from -2.13% in the same period last year[8] - The net profit for the current period was CNY -279,435,939.84, a decrease of 77.54% compared to CNY -157,394,326.18 in the same period last year, mainly due to rising coal prices and increased fuel costs[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥21,527,375,350.35, an increase of 3.02% from ¥20,896,357,015.95 at the end of the previous year[8] - The company's net assets attributable to shareholders decreased by 3.17% to ¥6,152,231,339.69 from ¥6,353,580,503.13[8] - Cash and cash equivalents increased by 29.56% to ¥970,544,741.27 compared to ¥749,090,059.82 at the beginning of the year, mainly due to significant bank loans received by a subsidiary[16] - Accounts receivable interest increased by 99.59% to ¥7,801,425.70 from ¥3,908,761.93, attributed to the expansion of factoring business by a subsidiary[16] - Other non-current assets rose by 34.75% to ¥655,620,702.82 from ¥486,529,320.63, primarily due to increased prepayments for engineering projects[16] Cash Flow - The cash flow from operating activities for the current period was CNY 60,803,731.95, a decrease of 35.25% compared to CNY 93,906,963.08 in the same period last year, attributed to increased cash outflows from factoring business[23] - The company’s cash and cash equivalents net increase for the current period was CNY 182,996,470.91, a decrease of 77.76% from CNY 822,881,364.27 in the same period last year, primarily due to reduced cash inflows from financing activities[24] Investments and Projects - The company has invested CNY 800,000 in financial support for its subsidiary, Run Electric Science, to meet its operational funding needs[27] - The company plans to enhance its asset structure and R&D capabilities through its investment in Run Electric Science, which aligns with its strategic development needs[26] - The company has established two wholly-owned subsidiaries for wind power projects with a registered capital of CNY 50 million each, totaling an expected investment of CNY 1.171 billion[29] - External financing of approximately CNY 940 million is required for the projects, with CNY 640 million for the Phoenix Wind Power and CNY 300 million for the Jian Shan Feng Wind Power[29] - The company has provided guarantees for project loans of up to CNY 640 million and CNY 300 million for the two subsidiaries, respectively, to support construction and operation[30] - The investment in renewable energy projects aligns with the company's development strategy, as wind power is considered mature with lower investment risks and stable revenue post-production[30] - The company will closely monitor the financial status and operational performance of the project companies to ensure proper use and timely repayment of the loans[30] Compliance and Governance - There are no overdue commitments from the actual controller, shareholders, or related parties during the reporting period[32] - The company has not engaged in any securities or derivative investments during the reporting period[33][34] - There are no violations regarding external guarantees during the reporting period[36] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties[37]

Financial Performance - The company's operating revenue for 2017 was approximately ¥8.76 billion, representing a 26.03% increase compared to ¥5.92 billion in 2016[13]. - The net profit attributable to shareholders for 2017 was approximately ¥53.53 million, a significant decrease of 88.69% from ¥459.79 million in 2016[13]. - The net cash flow from operating activities decreased by 50.18% to approximately ¥567.95 million in 2017, down from ¥766.12 million in 2016[13]. - Basic earnings per share for 2017 were ¥0.0470, reflecting an 89.32% decline compared to ¥0.5376 in 2016[13]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of approximately -¥69.14 million in 2017, compared to ¥438.99 million in 2016, marking a 116.73% decrease[13]. - The company reported a total operating income of CNY 2,916,952,346.63 in Q4 2017, with a total annual operating income of CNY 8,860,371,482.94[18]. - The net profit attributable to shareholders was negative CNY 40,169,028.17 in Q4 2017, with an annual net profit of CNY 70,065,168.61 in Q2 2017[18]. - The company reported a total revenue of CNY 2,601,858,985.73 for the reporting period, with a net loss of CNY 89,284,617.54[70]. - In 2017, the company achieved a total operating revenue of CNY 5,852,860,718.33, with a net profit of CNY -67,101,734.85, indicating a decline in profitability[83]. Asset and Capital Structure - The company has a registered capital of ¥1.2 billion, reflecting its financial strength and capacity for investment[8]. - Total assets at the end of 2017 were CNY 14,431,969,397.13, a 14.11% increase compared to CNY 12,596,000,000 at the end of 2016[14]. - Net assets attributable to shareholders increased by 12.94% to CNY 6,353,580,503.13 from CNY 5,625,447,154.76 in the previous year[14]. - The company’s equity assets increased by 58,794.11% due to the issuance of shares to acquire a 12% stake in Huaneng Qinbei[29]. - The company’s cash and cash equivalents rose by 192.94%, attributed to timely electricity settlement by subsidiaries[29]. - The company reported a significant difference between net cash flow from operating activities (CNY 568 million) and net profit (CNY 26 million), with a gap of CNY 542 million due to depreciation and increased receivables[58]. - The company completed a major asset restructuring, raising 690 million yuan through the issuance of shares and cash payments, with net proceeds of 670 million yuan after intermediary fees[132]. - The company acquired 97.15% equity of Hebi Tongli and 50% equity of Hebi Fenghe as part of the asset restructuring[133]. Business Operations and Strategy - The company operates primarily in the energy sector, focusing on power generation and related services[8]. - The company has a comprehensive strategy for market expansion and technological development in the energy sector[8]. - The company is focusing on integrating the entire energy industry chain, including logistics, finance, and data services[27]. - The company aims to enhance its operational efficiency and expand into new business areas such as combined heat and power generation and electricity distribution[87]. - The company is actively engaging in emerging strategic energy sectors while adhering to national policies on energy development[90]. - The company plans to invest heavily in wind power projects in 2018, which is the reason for not distributing profits in 2017[96]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position in the energy sector[68]. Environmental and Social Responsibility - The company maintained a 100% wastewater compliance rate and achieved a 100% comprehensive disposal rate for fly ash during the reporting period[152]. - The company has implemented measures to achieve ultra-low emissions, meeting national standards for gas-fired unit emissions[160]. - The company has received ISO9001 quality certification, ISO14001 environmental certification, and OHSAA18001 occupational health and safety certification, with no major environmental risk incidents reported[160]. - The company has established and improved management systems for solid waste and hazardous chemicals, along with emergency response plans[161]. - The company actively participates in local community social welfare activities and has received positive recognition from various sectors of society[156]. Financial Management and Compliance - The company appointed Ernst & Young Hua Ming as the auditor for the 2017 fiscal year, with an audit fee of 350,000 RMB[117]. - The internal control audit for 2017 was also assigned to Ernst & Young Hua Ming, with a fee of 200,000 RMB[118]. - The company engaged China Galaxy Securities as a financial advisor for a major asset restructuring, with a total advisory fee of 18 million RMB[118]. - The company confirmed that there were no significant accounting errors requiring retrospective restatement during the reporting period[115]. - The company has not reported any significant non-equity investments during the reporting period[71]. - The company has not engaged in any major contracts or entrusted financial management during the reporting period[150][148]. Subsidiary Performance - The company’s subsidiary Tianyi reported a net profit of RMB 20,396,656.50, contributing over 10% to the company's net profit[82]. - The company’s subsidiary Yadian reported a net loss of RMB 69,268,700.63, impacting overall profitability[82]. - The company’s subsidiary Zhongyi achieved a net profit of RMB 46,256,902.58, contributing positively to the financial results[82]. - The company reported a significant decline in net profits across several subsidiaries, with the most notable being a 2309.41% decrease in net profit for the Duck Electric Company[84]. Market and Competitive Landscape - The company anticipates a challenging market environment in 2018, with intensified competition and stricter environmental regulations affecting the power generation sector[86]. - Henan YN Holding Co., Ltd. reported a significant increase in market share in the Henan power market, enhancing its core competitiveness and profitability[127]. - The company aims to enhance its service capabilities through environmental governance projects, with a focus on emissions reduction[125].

Financial Performance - Operating revenue for the period was ¥2,640,652,556.73, representing a 35.82% increase compared to the same period last year[8]. - Net profit attributable to shareholders of the listed company was ¥142,517,325.86, a decrease of 40.61% year-on-year[8]. - Basic earnings per share were ¥0.1270, down 43.05% from the previous year[8]. - The weighted average return on net assets was 2.35%, a decline of 41.25% compared to the same period last year[8]. - Cash flow from operating activities for the year-to-date was ¥932,675,178.05, down 22.68% year-on-year[8]. - The company's net profit for the first nine months of 2017 was RMB 80,676,788.77, a decrease of 88.82% compared to the same period last year[21]. - Operating costs for the first nine months of 2017 were RMB 5,449,314,465.99, reflecting a 50.76% increase year-on-year due to high coal prices[20]. - The company reported a significant increase in operating income, with non-operating income rising by 3574.77% to RMB 107,477,171.03[21]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥19,439,350,924.72, an increase of 6.14% compared to the previous year[8]. - Net assets attributable to shareholders of the listed company amounted to ¥6,398,146,961.32, reflecting a growth of 13.59% year-on-year[8]. - The company's cash and cash equivalents at the end of the period amounted to RMB 940,628,720.54, an increase of 267.84% compared to the beginning of the period[16]. - Accounts receivable increased by 39.28% to RMB 1,624,073,771.46, primarily due to the expansion of factoring business by the subsidiary[16]. - Long-term equity investments increased by 60387.85% to RMB 533,280,405.25, due to the acquisition of a 12% stake in Huaneng Qinbei[17]. - Other receivables decreased by 69.07% to RMB 82,818,945.28, mainly due to the return of dividend payments from the investment group[17]. - The company's total liabilities increased, with interest payable rising by 205.94% to RMB 1,423,200.55, reflecting increased short-term loan interest[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 43,179[12]. - The largest shareholder, Henan Investment Group Co., Ltd., held 64.20% of the shares, amounting to 738,700,684 shares[12]. Cash Flow and Financing - The company raised RMB 674,463,592.10 through non-public stock issuance, a significant increase of 3272.32% compared to the previous year[24]. - The net cash increase for the period from January to September 2017 was ¥682,734,425.38, a significant increase of 731.19% compared to the same period last year, primarily due to funds raised from a non-public stock issuance and increased loans for infrastructure projects[25]. - Cash dividends and interest payments for the period from January to September 2017 totaled ¥301,438,620.57, a decrease of 42.42% year-on-year, mainly due to a large dividend payment by a subsidiary in the previous year[25]. Corporate Actions and Governance - The company completed the absorption merger of its subsidiary Hebi Heqi Power Co., Ltd. with Hebi Tongli Power Co., Ltd. on June 30, 2017, enhancing operational efficiency and reducing management costs[26]. - The board approved the use of ¥7,355,000.00 from the 2017 major asset restructuring fundraising to replace part of the intermediary fees paid with self-raised funds[28]. - The company reported no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[30]. - There were no significant changes in expected net profit for the year compared to the previous year, indicating stable performance[31]. - The company did not engage in any securities or derivative investments during the reporting period[32][33]. - There were no violations regarding external guarantees or non-operating fund occupation by controlling shareholders during the reporting period[34][35]. - The company has not initiated any targeted poverty alleviation work or plans for the future as of the third quarter[36].

Financial Performance - The company's operating revenue for the reporting period was CNY 3,202,726,587.58, representing a 4.20% increase compared to CNY 2,527,127,367.51 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was a loss of CNY 48,814,789.58, a decrease of 112.98% from a profit of CNY 321,931,803.69 in the previous year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 143,389,240.98, down 147.67% from CNY 312,037,046.68 in the same period last year[19]. - The net cash flow from operating activities was CNY 406,281,595.33, a decline of 44.60% compared to CNY 566,446,800.50 in the previous year[19]. - The basic earnings per share were CNY -0.0438, a decrease of 112.53% from CNY 0.3764 in the same period last year[19]. - The diluted earnings per share were also CNY -0.0438, showing a similar decline of 112.53% from CNY 0.3764 in the previous year[19]. - The weighted average return on equity was -0.82%, down 7.87% from 7.94% in the previous year[19]. - The company reported a net profit of 1,416.92 million from its subsidiary Tianyi Company, contributing significantly to overall performance[52]. - The company reported a net loss of ¥31.94 million compared to a profit of ¥16.87 million in the previous period[142]. - The total operating revenue for the current period is CNY 3,202,726,587.58, an increase of 4.23% compared to CNY 3,073,668,306.20 in the previous period[148]. - The total operating costs for the current period are CNY 3,429,822,072.88, up 38.54% from CNY 2,474,127,228.87 in the previous period[148]. - The total profit for the current period is a loss of CNY 124,581,179.22, compared to a profit of CNY 600,975,978.87 in the previous period[150]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 18,791,989,359.18, an increase of 2.61% from CNY 14,431,969,397.13 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company were CNY 6,255,021,302.13, reflecting an increase of 11.05% from CNY 4,336,920,064.63 at the end of the previous year[19]. - The company reported a total asset value of 22,625.5 million yuan for the reporting period[75]. - The total liabilities amount to CNY 1,334,708,919.82, significantly higher than CNY 760,661,151.47 in the previous period[146]. - The total equity has increased to CNY 5,047,379,877.13 from CNY 3,020,978,525.16 in the previous period[146]. - The total liabilities decreased to ¥11.52 billion from ¥11.63 billion, a decrease of 1.0%[141]. - The total equity increased to ¥7.27 billion from ¥6.68 billion, an increase of 8.8%[142]. Cash Flow - The net cash flow from operating activities for the first half of 2017 was CNY 406.28 million, a decrease of 44.6% compared to CNY 733.35 million in the same period last year[157]. - The total cash inflow from financing activities reached CNY 4.28 billion, significantly up from CNY 1.82 billion year-on-year, resulting in a net cash flow from financing activities of CNY 1.12 billion[158]. - The net cash flow from investing activities was negative at CNY 1.02 billion, compared to a negative CNY 824.08 million in the previous year, indicating increased investment outflows[158]. - The total cash and cash equivalents at the end of the period amounted to CNY 662.81 million, up from CNY 443.05 million at the end of the previous period[158]. - Cash received from other operating activities was CNY 99.84 million, compared to CNY 55.77 million in the previous year, reflecting a growth of 78.8%[157]. - The cash outflow for purchasing goods and services was CNY 2.77 billion, an increase of 81.2% from CNY 1.53 billion in the same period last year[157]. Investments and Acquisitions - The company completed a major asset restructuring, issuing 221,068,474 shares to acquire 97.15% of Hebi Tongli and 50% of Hebi Fenghe, raising approximately ¥690 million in supporting funds[34]. - The company completed acquisitions of three power generation companies, with total investments amounting to 3,642 million and 725.63 million, respectively, resulting in a total investment of 2,074 million[48]. - The company has committed to support the long-term development of its controlling shareholder by acquiring and managing a new power generation project if the shareholder decides to temporarily abandon it[67]. - The company has completed the acquisition of 95% equity in Xinxiang Zhongyi Power Co., Ltd. and 97.15% equity in Hebi Heqi Power Co., Ltd. as part of its expansion strategy[183]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[6]. - The company has a registered capital of 1,057.68 million for its subsidiary Tongli Company, which reported a net loss of 47.09 million[53]. - The company’s total issued share capital as of June 30, 2017, was 1,150,587,847 shares, with a significant portion held by state-owned entities[185]. - The company’s stock was officially listed and began trading on April 27, 2017[117]. - The company had a total of 47,894 ordinary shareholders at the end of the reporting period[123]. - Henan Investment Group held 64.20% of the shares, amounting to 738,700,684 shares, with an increase of 221,068,474 shares during the reporting period[123]. Corporate Governance and Compliance - The company has committed to maintaining independence from its controlling shareholder in terms of business, assets, finance, and personnel after the major asset restructuring in 2009[63]. - The company’s board and management have pledged to act in the best interests of all shareholders and avoid any unfair benefits to other entities[63]. - The company has ensured that no related party transactions have harmed the interests of its shareholders[63]. - The company’s financial report reflects a commitment to transparency and adherence to the disclosure requirements set by the China Securities Regulatory Commission[189]. - The company operates primarily in the electricity production and sales sector, focusing on energy projects and high-tech development[185]. Market and Operational Strategy - The company is focusing on expanding its power generation capacity through acquisitions, which will eliminate competition and enhance profitability[53]. - The company is primarily reliant on thermal power generation, with new energy installations still in the early stages, indicating a need for asset structure optimization[56]. - The company aims to align with national strategies by actively developing new energy generation while maintaining its core business[56]. - The company has captured 2 million kilowatts of renewable energy resources for future project development[26]. - The company has secured over 800 million yuan in total orders for its environmental protection business during the reporting period[26]. Related Party Transactions - The company reported a related party transaction amounting to 207.02 million yuan for procurement of equipment and raw materials[74]. - The company also reported a related party sales transaction of 14,482.8 million yuan for coal sales, which did not exceed the approved limit of 64,500 million yuan[74]. - The company provided services for near-zero emissions transformation and smoke governance, amounting to 5,776.41 million yuan, within the approved limit of 15,720 million yuan[74]. Risk Management - The company has implemented strategies to mitigate risks associated with raw material price fluctuations, particularly in coal procurement[54]. - The company plans to enhance analysis of energy and electricity market policies and adopt flexible marketing strategies to mitigate risks[55].

Financial Performance - The company's operating revenue for Q1 2017 was ¥1,702,233,903.60, representing a 21.83% increase compared to ¥1,397,268,561.41 in the same period last year[8] - The net profit attributable to shareholders was a loss of ¥118,879,958.19, a decrease of 183.21% from a profit of ¥142,859,692.89 in the previous year[8] - The net cash flow from operating activities was ¥93,906,963.08, down 83.85% from ¥581,603,932.06 in the same period last year[8] - The basic earnings per share were -¥0.1104, a decline of 183.20% compared to ¥0.1327 in the previous year[8] - Net profit for the period was CNY -157,394,326.18, a decrease of 195.52% compared to the same period last year, attributed to higher coal prices and fuel costs[19] Assets and Liabilities - Total assets at the end of the reporting period were ¥18,644,477,241.68, an increase of 1.80% from ¥18,314,539,944.57 at the end of the previous year[8] - The company’s total liabilities decreased by 75.72% to CNY 225,254,544.40, primarily due to the maturity of electronic commercial acceptance bills[17] - The company’s share capital increased by 34.53% to CNY 1,150,587,847.00, following the issuance of shares for the acquisition of equity stakes[17] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 49,270[12] - The largest shareholder, Henan Investment Group Co., Ltd., held 60.52% of the shares, totaling 517,632,210 shares[12] Cash Flow and Investments - Cash and cash equivalents increased by 328.27% to CNY 1,095,145,096.99 compared to the beginning of the year, primarily due to funds raised for the acquisition of Qinxin North equity[16] - Cash flow from operating activities decreased by 83.85% to CNY 93,906,963.08, primarily due to increased coal procurement costs[21] - Cash received from investment activities decreased by 92.66% to CNY 2,194,478.66, reflecting a reduction in project construction performance bonds received[22] - Cash inflow from financing activities increased by 691.48% to CNY 1,054,180,218.50, mainly due to funds raised for the acquisition of Qinxin North equity[23] Government Support and Other Income - The company received government subsidies amounting to ¥24,322,791.70 during the reporting period[9] - The company reported a significant increase in other operating income by 1216.36% to CNY 24,403,971.61, due to government support funds received[19] Corporate Actions - The company received conditional approval from the China Securities Regulatory Commission (CSRC) for its asset restructuring plan on September 23, 2016[26] - The company completed the transfer of 97.15% equity in Hebi Tongli and 50% equity in Hebi Fenghe to its name on January 20, 2017[27] - The company raised 690 million yuan through a share issuance to unspecified investors on February 16, 2017[27] - The company acquired a 12% equity stake in Huaneng Qinbei on April 17, 2017[27] - The newly issued shares were listed on April 27, 2017[28] Compliance and Governance - There were no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[30] - The company did not engage in any securities or derivative investments during the reporting period[31][32] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[35] - The company did not conduct any research, communication, or interview activities during the reporting period[33] Future Outlook - The company anticipates no significant changes in net profit compared to the same period last year[31]

Financial Performance - The company's operating revenue for 2016 was CNY 5,915,004,535.53, representing a 61.81% increase compared to CNY 3,655,524,210.26 in 2015[18]. - The net profit attributable to shareholders for 2016 was CNY 459,794,148.29, a decrease of 17.88% from CNY 559,908,266.22 in 2015[18]. - The net cash flow from operating activities was CNY 766,122,566.04, down 40.23% from CNY 1,281,736,065.27 in the previous year[18]. - Basic earnings per share for 2016 were CNY 0.5376, a decline of 17.89% compared to CNY 0.6547 in 2015[18]. - Total assets at the end of 2016 amounted to CNY 14,431,969,397.13, reflecting a 9.87% increase from CNY 13,135,281,772.97 at the end of 2015[18]. - The net assets attributable to shareholders increased by 11.70% to CNY 4,336,920,064.63 from CNY 3,882,484,249.67 in 2015[18]. - The weighted average return on net assets was 11.20%, down from 15.54% in the previous year[18]. - The company reported a quarterly revenue of CNY 1,763,878,855.53 in Q4 2016, with a significant drop in net profit to -CNY 89,069,691.03[23]. Revenue Breakdown - The revenue from the power generation segment was 4.825 billion yuan, accounting for 81.57% of total revenue, with a year-on-year increase of 35.56%[48]. - The coal sales segment generated revenue of 701.24 million yuan, contributing 11.86% to total revenue[48]. - The company sold 1,552,148.81 MWh of electricity, a 55.29% increase from 999,535.84 MWh in the previous year[51]. - The company’s coal sales volume reached 5,296,009.84 tons, a significant increase of 3,771.91% compared to 136,780.33 tons in 2015[51]. - The company’s total operating costs were 4.76 billion yuan, with a gross margin of 19.53%[50]. Investment and Expansion - The company plans to invest approximately 307 million yuan in capital expenditures in 2017, including 250 million yuan for equity investments[82]. - The company has initiated the construction of a 7MWp photovoltaic power station and received government approval for two wind power projects totaling 150,000 kW[32]. - The company has expanded its strategic layout through acquisitions and investments in various energy sectors, including renewable energy and energy sales[40]. - The company reported a total investment of 200 million yuan in renewable energy projects, with a 100% ownership stake in the newly established entities[73]. - The company has established a new subsidiary, Henan Yunen New Energy Co., Ltd., with an investment of 100 million yuan to develop and operate renewable energy projects[148]. Cost Management - The company implemented various cost reduction strategies, including advanced technology upgrades and financing cost reductions[44]. - Sales expenses increased by 162.85% to ¥4,932,347.20, primarily due to costs related to new subsidiaries and market expansion[59]. - Management expenses decreased by 40.89% to ¥109,391,593.72, attributed to the transition of subsidiaries from construction to operational phases[59]. - Financial expenses rose by 40.98% to ¥322,160,803.92, mainly due to the capitalization of interest expenses after the completion of construction for a subsidiary[59]. Environmental Initiatives - The company completed ultra-low emission renovations for 13 operational power generation units, enhancing its environmental protection efforts[34]. - The company has installed dust removal, desulfurization, and denitrification devices in all its power generation facilities, achieving a 100% wastewater compliance rate[137]. - The company has a comprehensive utilization rate of 100% for fly ash and desulfurization gypsum, indicating effective waste management practices[137]. - The company has actively engaged in green energy development and environmental protection initiatives, enhancing resource utilization efficiency[137]. Governance and Compliance - The company has committed to ensuring that the shareholders' meeting, board of directors, independent directors, and supervisors exercise their powers independently according to laws and regulations[94]. - The company has maintained compliance with its commitments made in the 2014 non-public stock issuance, with no violations reported[96]. - The company has established independent operational capabilities, with a complete power production and sales system[200]. - The company ensures that its assets are independent and clearly defined, with no non-operational funds or assets occupied by the controlling shareholder[200]. Shareholder Relations - The company actively engages with investors through a hotline and online platforms, enhancing communication and protecting the rights of minority shareholders[138]. - The company has maintained a stable shareholder structure, with state-owned entities holding a significant portion of shares[159]. - The company reported a total share count of 855,275,976, with 22.61% being restricted shares and 77.39% being unrestricted shares[159]. - The company has not distributed cash dividends in the past three years, with a net profit of CNY 459,794,148.29 in 2016, resulting in a 0.00% dividend payout ratio[91]. Risk Management - The company is facing risks related to raw material price fluctuations, particularly in coal supply, and plans to implement comprehensive fuel cost control measures[82]. - The company’s overall market environment is expected to become more competitive due to ongoing reforms in the energy sector and stricter environmental regulations[81]. - The company will strengthen analysis and research on energy and electricity market policies, enhancing risk warning and control, and developing flexible marketing strategies to actively explore new markets[83]. Human Resources - The company employed a total of 1,251 staff, with 840 in production, 125 in technical roles, and 34 in finance[191]. - The company has a total of 125 technical personnel, reflecting a strong technical workforce[191]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 296.84 million[190]. - The company's compensation policy emphasizes performance-based pay, linking employee salaries to job responsibilities, work intensity, performance, and company benefits[193].