2014-07-29 16:00Financial Performance - The company's operating revenue for the first half of 2014 was CNY 64.61 billion, an increase of 0.85% compared to the same period last year[16]. - Net profit attributable to shareholders for the first half of 2014 was CNY 6.70 billion, representing a 13.70% increase year-on-year[16]. - Basic earnings per share for the first half of 2014 was CNY 0.48, up 14.29% from CNY 0.42 in the same period last year[15]. - Total profit for the period was 11.430 billion RMB, representing a growth of 21.44% year-on-year[28]. - The total comprehensive income increased by 29.11% year-on-year, driven by higher profits from subsidiaries[17]. - The company's net profit for the first half of 2014 was RMB 5.89 billion, compared to RMB 6.12 billion in the same period of 2013[80]. - The net profit for the six months ended June 30, 2014, was RMB 6.70 billion, compared to RMB 5.20 billion for the same period in 2013, representing an increase of approximately 28.7%[84]. Assets and Liabilities - The company's total assets as of June 30, 2014, were CNY 263.65 billion, a 1.30% increase from the end of the previous year[16]. - The company's total liabilities as of June 30, 2014, were RMB 186.19 billion, a marginal decrease from RMB 186.23 billion at the end of 2013[74]. - The company's net assets attributable to shareholders at the end of the period were 63.569 billion RMB, up from 61.748 billion RMB at the beginning of the period[18]. - The company's total current liabilities amounted to RMB 100.70 billion as of June 30, 2014, compared to RMB 97.18 billion at the end of 2013[74]. - The company's long-term payables increased by 431.43% compared to the beginning of the period, attributed to financing lease activities[15]. Cash Flow - The net cash flow from operating activities decreased by 21.05% to CNY 16.25 billion compared to the same period last year[16]. - The net cash flow from operating activities for the first half of 2014 was RMB 16.25 billion, a decrease of 21.4% compared to RMB 20.58 billion in the same period of 2013[76]. - Cash outflow for purchasing goods and services increased to RMB 46.70 billion, up 6.2% from RMB 43.99 billion in the previous year[76]. - The cash balance at the end of the period was RMB 11.66 billion, down from RMB 15.62 billion at the end of June 2013[78]. Investments and Expenditures - The company's investment income increased by 59.19% year-on-year, primarily due to higher returns from joint ventures and associates[17]. - The company reported a total investment of 2,618,869,597 RMB in other listed companies, with a total book value of 6,909,300,709 RMB at the end of the reporting period[44]. - The company has a projected total procurement amount of 26 billion RMB for auxiliary equipment and products in 2014, with 2 billion RMB actually incurred in the first half of the year[49]. - The company expects to spend 441 billion RMB on coal and transportation in 2014, with 82.35 billion RMB incurred in the first half of the year[49]. Shareholder Information - The total number of shareholders at the end of the reporting period is 105,224, with 104,674 being A-share holders[62]. - The largest shareholder, Huaneng International Power Development Company, holds 36.05% of shares, totaling 5,066,662,118 shares[62]. - The company plans to distribute a total dividend of 5,341,045,707 RMB for the 2013 fiscal year, with 3,990,000,000 RMB already distributed for A shares[47]. Compliance and Governance - The company is committed to maintaining compliance with the accounting standards set by the Ministry of Finance of the People's Republic of China[91]. - The company has not received any notifications regarding penalties or investigations of its directors, supervisors, or senior management during the reporting period[56]. - Huaneng Group has made long-term commitments to avoid competition with Huaneng International in power development projects[53]. Operational Highlights - In the first half of 2014, the company generated a total electricity output of 151.739 billion kWh, an increase of 1.51% year-on-year, achieving 47% of the annual target of 325 billion kWh[29]. - The company's controllable installed capacity reached 66,888 MW by June 30, 2014, with a clean energy proportion of 9.34%[29]. - The company has a competitive advantage with a controllable installed capacity of nearly 67,000 MW, ranking first among comparable companies in the domestic industry[35]. Financial Management - The company recognizes gains or losses from the disposal of financial assets in the profit and loss statement, reflecting the difference between the carrying amount and the consideration received[108]. - The company assesses financial assets for impairment at the balance sheet date and recognizes impairment losses when objective evidence indicates a decline in value[107]. - The company employs a perpetual inventory system for its stock management[113]. Foreign Operations - The company's overseas revenue was CNY 7.239 billion, reflecting a decrease of 2.80% year-on-year, while domestic revenue increased by 2.06% to CNY 57.153 billion[34]. - The average exchange rate for the Singapore subsidiary was 4.9744 RMB per Singapore dollar as of June 30, 2014, compared to 4.7845 RMB per Singapore dollar as of December 31, 2013[189].