2016-08-30 16:00Financial Performance - The total operating revenue for the reporting period (January to June) was RMB 29.56 billion, a decrease of approximately 13.72% compared to the same period last year, primarily due to a reduction in on-grid electricity prices and a decrease in power generation[22]. - The net profit attributable to shareholders of the listed company was RMB 2.64 billion, down 30.87% year-on-year[22]. - The basic earnings per share decreased to RMB 0.267, representing a decline of 38.34% compared to the previous year[21]. - The weighted average return on net assets was 6.12%, a decrease of 4.56 percentage points from the same period last year[21]. - The net cash flow from operating activities was RMB 11.75 billion, a decrease of 29.11% compared to the previous year[22]. - The company's total profit, net profit, and net profit attributable to shareholders were RMB 4.707 billion, RMB 3.537 billion, and RMB 2.635 billion, respectively, representing year-on-year decreases of approximately 26.42%, 28.49%, and 30.87% due to lower on-grid electricity prices and reduced power generation[24]. - The company's financial expenses decreased by approximately 20.93% to RMB 2.462 billion, primarily due to lower loan interest rates and reduced borrowings[24]. - The company's investment income was RMB 105 million, a year-on-year decrease of approximately 55.53% due to reduced profits from coal mines in which it holds stakes[24]. - The company's cash outflow from investment activities was approximately RMB 6.373 billion, an increase of 27.70% year-on-year, mainly due to increased capital expenditures on infrastructure projects[27]. - The company's cash outflow from financing activities was approximately RMB 6.187 billion, a decrease of 38.18% year-on-year, primarily due to reduced maturing debts[27]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 202.83 billion, a decrease of 1.85% from the end of the previous year[22]. - The net assets attributable to shareholders of the listed company were RMB 41.90 billion, a decrease of 1.11% from the end of the previous year[22]. - The company's total assets attributable to shareholders under Chinese accounting standards were RMB 41.897 billion at the end of the reporting period, compared to RMB 42.369 billion at the beginning of the period[26]. - The company's total liabilities increased, with cash outflow for debt repayment amounting to CNY 33,663,663, compared to CNY 39,103,515 in the previous year[127]. - The company's net current liability was RMB 46.1 billion as of June 30, 2016, compared to RMB 43.2 billion at the end of 2015[144]. Operational Metrics - The company's total power generation for the first half of 2016 was 86.554 billion kWh, achieving approximately 47.56% of the annual target[45]. - The utilization hours for the company's power generation units were 1,878 hours, a decrease of 200 hours year-on-year, with coal-fired units at 2,099 hours, down 197 hours[45]. - Operating costs decreased by 9.16% to CNY 21,462,539 from CNY 23,626,021 year-on-year[46]. - The company's main business revenue from electric heating was CNY 28,654,551, with a year-on-year decrease of 14.12% and a gross margin of 28.34%, down 3.28 percentage points[48]. - Coal sales revenue was CNY 719,635, showing a year-on-year increase of 22.58% and a gross margin of -20.32%, up 3.99 percentage points[48]. Shareholder Information - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[4]. - The company plans to distribute a dividend of RMB 0.30 per share, totaling RMB 295.89 million based on a total share capital of 9.862 billion shares[67]. - The total number of shareholders reached 154,564 by the end of the reporting period[104]. - China Huadian Group Company holds 4,620,061,224 shares, representing 46.84% of total shares[107]. - The top ten shareholders collectively hold a significant portion of the company's shares, with the largest shareholder being a state-owned entity[107]. Corporate Governance and Compliance - The company has established a robust corporate governance structure, ensuring effective internal management and protecting shareholder interests[53]. - The company has maintained a strict internal control system and has publicly disclosed its internal control evaluation report for 2015[98]. - The company has established an ESG indicator system in compliance with the latest regulatory requirements, reflecting its commitment to environmental, social, and governance standards[99]. - The company has adhered to timely and accurate information disclosure practices, enhancing investor communication and protection[98]. Investment and Projects - The company is currently constructing multiple projects, including the Shiliquan Power Plant with an investment of RMB 1.928 billion and the Laizhou Company Phase II project with an investment of RMB 8.326 billion[66]. - The company has committed to investing RMB 3.0 billion in the Fengjie Power Plant project and RMB 2.1 billion in the Shiliquan Power Plant project, with progress rates of 69.80% and 47.71% respectively[65]. - The company has several approved and under-construction projects with a planned capacity of 14,117 MW[41]. - The company is engaged in various ongoing projects, including wind and solar energy initiatives, with a total investment exceeding RMB 5.969 billion across multiple sites[66]. Financial Instruments and Accounting Policies - The company adopts the cost method for accounting long-term equity investments in subsidiaries, measuring them at initial investment cost[185]. - For joint ventures and associates, the company uses the equity method, adjusting the investment's book value based on the share of net profit or loss and other comprehensive income[188]. - The depreciation of fixed assets is calculated using the straight-line method, with useful lives ranging from 5 to 45 years depending on the asset category[194]. - The group assesses financial assets for impairment, recognizing losses when there is objective evidence of impairment, such as a decline in fair value exceeding 50% or lasting over 12 months[169].