Huaneng Hydropower(SH:600025)2018-04-25 16:00Financial Performance - Operating income for the reporting period was CNY 2.97 billion, down 9.63% year-on-year[6]. - Net profit attributable to shareholders of the listed company was CNY 338.94 million, a decrease of 57.69% compared to the same period last year[6]. - Basic earnings per share were CNY 0.02, down 60% from CNY 0.05 in the previous year[6]. - The total profit for Q1 2018 was 48,167.37 million RMB, a decrease of 50,449.37 million RMB or 51.16% year-on-year, mainly due to reduced operating revenue and increased operating costs[18]. - Net profit for Q1 2018 was ¥408,475,995.59, down 53.55% compared to ¥879,192,082.55 in Q1 2017[38]. - Net profit for the current period is CNY 167,934,369.48, down 79.1% from CNY 805,415,682.32 in the previous period[43]. - Total comprehensive income for the current period is CNY 167,934,369.48, a decrease of 79.1% compared to CNY 805,415,682.32 in the previous period[43]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 165.23 billion, a decrease of 1.64% compared to the end of the previous year[6]. - Current assets decreased from CNY 9,229,817,311.45 to CNY 5,691,860,479.44, a decline of approximately 38.5%[28]. - Total liabilities decreased from CNY 126,978,518,151.64 to CNY 124,063,766,308.16, a decline of about 2.3%[30]. - Long-term borrowings increased from CNY 85,470,165,890.00 to CNY 86,685,429,690.00, an increase of approximately 1.4%[30]. - Total liabilities amounted to ¥108,383,651,379.21, slightly up from ¥107,702,975,296.29 year-over-year[35]. Cash Flow - Cash flow from operating activities increased by 58.06% year-on-year to CNY 2.41 billion[6]. - Cash and cash equivalents increased from CNY 1,722,960,200.41 to CNY 2,789,083,566.70, representing a growth of about 61.8%[28]. - Cash inflow from financing activities decreased to CNY 8,505,366,519.04 from CNY 11,287,911,000.00 in the previous period[46]. - Cash inflow from investment activities was CNY 849,464,664.12, a significant increase from CNY 137,640,510.94 in the previous period[48]. - Cash received from sales of goods and services was CNY 2,862,979,972.42, compared to CNY 1,960,408,467.13, marking a rise of 46.0%[48]. Shareholder Information - The total number of shareholders at the end of the reporting period was 360,719[11]. - The largest shareholder, China Huaneng Group Company, held 50.40% of the shares[11]. - The company's equity attributable to shareholders increased from CNY 39,419,679,456.25 to CNY 39,732,149,496.18, an increase of about 0.8%[30]. Operational Highlights - The company's operating revenue for Q1 2018 was 296,540.09 million RMB, a decrease of 31,607.62 million RMB or 9.63% year-on-year, attributed to a 13.08% decline in power generation[17]. - Total operating costs increased by 15,167.73 million RMB or 5.92% year-on-year, mainly due to the capitalization of interest expenses and increased depreciation from newly commissioned units[17]. - Financial expenses rose to ¥960,192,578.11, compared to ¥857,569,036.92 in the same period last year, indicating a 12% increase[38]. Investment Activities - Investment income rose significantly by 11,563.28 million RMB or 502.52% year-on-year, primarily from the disposal of a 51% stake in Huaneng Guoduo Hydropower Co., Ltd.[17]. - The company completed the transfer of a 51% stake in Huaneng Guoduo Hydropower Co., Ltd. and the overall equity of Jueba Hydropower Plant, with the transfer price received in early 2018[22]. - The company recognized a gain of CNY 74 million from the disposal of non-current assets[9]. Future Outlook - The company anticipates a potential impact on profits due to the end of the VAT refund policy for large hydropower enterprises, which may affect future earnings[24].