2014-03-18 16:00Financial Performance - The company's operating revenue for 2013 was approximately RMB 133.83 billion, a slight decrease of 0.10% compared to 2012[20]. - Net profit attributable to shareholders for 2013 reached RMB 10.52 billion, representing a significant increase of 79.26% year-on-year[20]. - The net profit excluding non-recurring gains and losses was RMB 11.61 billion, up 99.32% from the previous year[20]. - Cash flow from operating activities for 2013 was RMB 40.24 billion, an increase of 49.43% compared to 2012[20]. - Basic earnings per share for 2013 increased by 78.57% to CNY 0.75 compared to CNY 0.42 in 2012[21]. - Diluted earnings per share for 2013 also rose by 78.57% to CNY 0.75 from CNY 0.42 in 2012[21]. - The weighted average return on equity increased by 6.76 percentage points to 17.87% in 2013 from 11.11% in 2012[21]. - The total comprehensive income for 2013 was RMB 12.60 billion, compared to RMB 7.19 billion in 2012, an increase of 75.5%[191]. - The company reported a net profit of RMB 10 billion for 2013, up 12% compared to the previous year[135]. Assets and Liabilities - Total assets at the end of 2013 amounted to RMB 260.27 billion, reflecting a 1.33% increase from the previous year[20]. - The company's total liabilities as of December 31, 2013, were RMB 226.75 billion, compared to RMB 221.72 billion in 2012, indicating a growth of about 2.4%[187]. - The company's long-term equity investments increased to RMB 17.95 billion in 2013 from RMB 15.65 billion in 2012, reflecting a growth of approximately 14.7%[187]. - The company's inventory decreased to RMB 6.47 billion in 2013 from RMB 7.02 billion in 2012, a reduction of about 7.8%[187]. - The total equity attributable to shareholders increased to RMB 74,044,618,570 by the end of 2013, up from RMB 64,918,240,338 at the beginning of the year, reflecting a growth of approximately 14.5%[199]. Dividends and Shareholder Returns - The proposed dividend for 2013 is RMB 0.38 per share, totaling approximately RMB 534.11 million for all ordinary shares[3]. - In 2013, the company distributed a total of 5.34 billion RMB in cash dividends, representing 50.77% of the net profit attributable to shareholders[91]. - The company’s cash dividend policy stipulates that at least 50% of the distributable profit will be distributed in cash if the company is profitable and has positive retained earnings[88]. Operational Efficiency and Costs - The operating costs decreased by 8.27% to CNY 102.87 billion from CNY 112.14 billion in the previous year[36]. - The company’s financial expenses decreased by 15.37% to CNY 7.52 billion from CNY 8.89 billion in the previous year[36]. - The cash outflow for purchasing goods and services decreased to RMB 89.76 billion in 2013 from RMB 110.03 billion in 2012, indicating a reduction of 16.4%[193]. - The company has implemented cost-cutting measures that are projected to save RMB 1 billion annually[135]. Strategic Focus and Future Plans - The company plans to achieve a controllable installed capacity of 80,000 MW by 2015, focusing on clean energy and technological advancements[44]. - The company plans to enhance its international operations, particularly in Singapore, to strengthen its market share and competitiveness[78]. - The company plans to increase investment in clean energy and high-efficiency thermal power units to meet stricter environmental regulations set by the government[85]. - Huaneng International Power plans to expand its renewable energy portfolio, targeting a 20% increase in renewable capacity by 2015[138]. - The company is investing RMB 5 billion in new technology development for cleaner energy production[138]. Risk Management and Governance - The company emphasizes risk management and will focus on market changes in electricity, coal, and environmental policies in 2014[10]. - The audit report for the financial statements was issued by KPMG with a standard unqualified opinion[3]. - The company has implemented a comprehensive internal control system to ensure compliance, asset security, and the authenticity of financial reports, in accordance with various regulatory requirements[165]. - KPMG issued a standard unqualified audit opinion on the effectiveness of internal controls related to financial reporting[174]. Shareholder Structure and Corporate Governance - The largest shareholder, China Huaneng Group Company, held 36.05% of the shares, totaling 5,066,662,118 shares[115]. - The company has maintained independence from its controlling shareholder in business, personnel, assets, organization, and finance, ensuring a sound organizational structure and clear responsibilities among the shareholders' meeting, board of directors, supervisory board, and management[160]. - Huaneng International Power achieved significant improvements in corporate governance, establishing a clear structure among the shareholders' meeting, board of directors, supervisory board, and management team[151]. Employee and Management Structure - The total number of employees in the parent company is 20,387, while the total number of employees in major subsidiaries is 17,342, resulting in a combined total of 37,729 employees[146]. - The company emphasizes a salary distribution system based on "position-based pay, performance-based compensation, efficiency priority, and fairness" linked to operational performance and individual performance[146]. - The current management team includes key personnel such as Cao Peixi, who has been the General Manager of China Huaneng Group since June 2008, and Li Shiqi, the General Manager of Huaneng International Power Development Company since November 2010[139].