RNS Number:4189G
Datang Intl Power Generation Co Ld
26 October 2007
DATANG INTERNATIONAL POWER GENERATION CO., LTD.
(a sino-foreign joint stock limited company incorporated in the People's
Republic of China)
(Stock Code: 991)
OVERSEAS REGULATORY ANNOUNCEMENT
2007 THIRD QUARTERLY REPORT
In accordance with the requirement of the Chinese Securities Regulatory Commission, Datang International Power
Generation Co., Ltd. (the "Company") is required to publish quarterly reports for the first and third quarters of
the year.
The financial statements in this quarterly report are unaudited and were prepared in accordance with the PRC GAAP.
This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited.
1. IMPORTANT NOTICE
1.1 The board of directors (the "Board"), the supervisory committee and directors, supervisors and senior
management of the Company warrant that there are no false representations or misleading statements
contained in, or material omissions from, this report; and jointly and severally accept full
responsibility for the truthfulness, accuracy and completeness of the information contained in this
report.
1.2 Mr. Zhang Yi, an executive director, and Mr. Xie Songlin, an independent director, were unavailable to
attend the Board meeting due to business engagement. Mr. Zhang Yi had entrusted Mr. Zhou Gang, a director,
to attend and vote on his behalf, while Mr. Xie Songlin had entrusted Mr. Liu Chaoan, an independent
director, to attend and vote on his behalf.
1.3 The financial statements in this third quarterly report of the Company are unaudited.
1.4 Mr. Zhai Ruoyu, the Chairman of the Company, Mr. Wang Xianzhou, the person-in-charge of accounting
matters, and Mr. Liu Heping, person-in-charge of the accounting institution (head of accounting), make
representation in respect of the truthfulness and completeness of the financial statements contained in
this quarterly report.
1.5 This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong Limited.
2. BASIC INFORMATION OF THE COMPANY
2.1 Major accounting data and financial indicators
At the end of At the end of last Unit: RMB
reporting Period reporting year Increase/(decrease)
at the end of the
reporting period
compared to the end
of last reporting
year
(%)
Total assets (RMB'000) 109,635,410 90,481,934 21.17
Interests of equity holders (excluding 28,232,104 23,714,612 19.05
minority interests) (RMB'000)
Net assets per share (fully diluted) (RMB)* 2.41 2.09 15.31
Beginning of the year to the Increase/ (decrease) compared
end of the reporting period to the corresponding period
(January to September) of previous year
(%)
Net cash flow from operating activities (RMB'000) 10,143,052 N/A
Net cash flow per share from operating 0.87 N/A
activities (fully diluted) (RMB)*
Net cash flow per share from operating 0.88 N/A
activities (weighted average) (RMB)*
The Beginning of the Increase/
reporting year to the end of (decrease) compared
period the reporting to the
(July to period corresponding
September) (January to period of
September) previous year
(%)
Net profit (excluding profit/loss 848,021 2,701,824 N/A
attributable to minority shareholders)
(RMB'000)
Basic earnings per share (RMB)* 0.07 0.23 N/A
Diluted earnings per share (RMB)* 0.07 0.23 N/A
Basic earnings per share after deduction 0.07 0.23 N/A
of non-recurring profit/loss (RMB)*
Diluted earnings per share after 0.07 0.23 N/A
deduction of non-recurring profit/loss
(RMB)*
Return on net assets (fully diluted) (%) 3.00 9.57 N/A
Return on net assets (weighted average) 3.18 10.40 N/A
(%)
Return on net assets after deduction of 3.01 9.56 N/A
non-recurring profit/loss (fully
diluted) (%)
Return on net assets after deduction of 3.19 10.40 N/A
non-recurring profit/loss (weighted
average) (%)
* During this period, the number of ordinary shares outstanding increased due to the capitalisation of
capital reserve fund which had no impact on the total balance of equity, and therefore, the
calculations of all per share data have considered the bonus issue of 10 shares for every 10 shares
outstanding.
Non-recurring profit/loss items Amount
(RMB'000)
Net non-operating revenue/expense 3,258
2.2 Total number of shareholders as at the end of the reporting period and the top ten holders of circulating
shares not subject to selling restrictions
Unit: share
Total number of shareholders at the end of the 340,461
reporting period
Top ten holders of circulating shares not subject to selling restrictions
Name of shareholder (Full name) Number of Circulating shares held Type of shares
not subject to selling
restrictions as at the end of the
reporting period
HKSCC NOMINEES LIMITED 3,218,957,085 Overseas-listed foreign shares
Baosteel Group Corporation Limited 5,072,000 RMB-denominated ordinary shares
China Construction Bank-Boshiyufu security 4,035,190 RMB-denominated ordinary shares
investment fund
Bank of China-Jiashi Shanghai Shenzhen 300 Index 3,484,137 RMB-denominated ordinary shares
security investment fund
Bingqi Finance Company Ltd. 2,952,000 RMB-denominated ordinary shares
CNNC Finance Company Ltd. 2,596,000 RMB-denominated ordinary shares
TAM WING FAN 2,000,000 Overseas-listed foreign shares
Mu Zongshan 1,990,000 RMB-denominated ordinary shares
Song Tiandi 1,972,500 RMB-denominated ordinary shares
Hu Xinzhong 1,950,000 RMB-denominated ordinary shares
3. SIGNIFICANT MATTERS
3.1 Details and reasons for material changes in the major financial statement items and financial indicators
of the Company
( X ) Applicable ( ) Not applicable
Unit: RMB'000
As at 30 As at 31 December Change Amount Change (%) Note
September 2007 2006
Consolidated
Prepayments 687,800 388,939 298,861 77% 1
Inventories 1,051,511 806,965 244,546 30% 2
Available-for-sale financial assets 4,264,417 1,356,175 2,908,242 214% 3
Long-term equity investments 3,153,522 1,275,433 1,878,089 147% 4
Construction-in-progress 27,029,398 17,919,514 9,109,884 51% 5
Construction materials 8,422,107 4,433,582 3,988,525 90% 6
Short-term loans 14,880,973 9,300,496 5,580,477 60% 7
Notes payable 2,376,028 233,267 2,142,761 919% 8
Other payables 1,964,784 413,749 1,551,035 375% 9
Non-current liabilities due within 1,541,913 2,942,804 (1,400,891) -48% 10
1 year
Other current liabilities 3,000,000 1,000,000 2,000,000 200% 11
Convertible bonds 203,228 1,111,810 (908,582) -82% 12
Deferred income tax liabilities 1,303,639 418,185 885,454 212% 13
Share capital 11,695,190 5,662,849 6,032,341 107% 14
Capital reserves 4,418,942 7,272,549 (2,853,607) -39% 15
1 The increase in prepayments was mainly due to the increase in prepayments for coal purchase.
2 The increase in inventories was mainly due to the increase in stocking of fuel coal at power plants
located near the coast of Fujian Province as a precaution against typhoons.
3 The increase in available-for-sale financial assets was owing to the rise in market price of the
shares of Daqin Railway Co., Ltd. ("Daqin Railway") held by the Company.
4 The increase in long-term equity investments was mainly due to the additional investment in, and
share of profit of, associates.
5 The increase in construction in progress was mainly due to the continuing investment in the projects
under construction.
6 The increase in construction materials was mainly due to the continuing investment in the projects
under construction.
7 The increase in short-term loans was mainly due to the new loans borrowed for construction in
progress.
8 The increase in notes payables was due to some subsidiaries of the Company adopting the method of
settlement by notes.
9 The increase in other payables was mainly due to the payables of the consideration in relation to
the acquisitions of part of the equity interests of Kailuan (Group) Yuzhou Mining Company Limited
("Yuzhou Mining!) and Inner Mongolia Huineng Datang Changtan Coal Company Limited ("Changtan
Coal").
10 The decrease in non-current liabilities due within 1 year was a result of the repayment of loans due
during the reporting period.
11 The increase in other current liabilities was mainly due to additional issue of short-term
commercial papers.
12 The decrease in convertible bonds was due to the conversion of the majority of the convertible bonds
into overseas-listed shares during the reporting period.
13 The increase in deferred income tax liabilities was mainly due to the increase in the market price
of the shares of Daqin Railway held by the Company, which is accounted for as available-for-sale
financial assets.
14 The increase in share capital was due to the conversion of convertible bonds into overseas-listed
shares and the capitalisation of capital reserve fund during the reporting period.
15 The decrease in capital reserves was mainly due to the capitalisation of capital reserve fund during
the reporting period.
The Company As at 30 As at 31 December Change Amount Change (%) Note
September 2007 2006
Accounts receivable 956,251 1,386,805 (430,554) -31% 1
Prepayments 156,749 223,134 (66,385) -30% 2
Available-for-sale financial assets 4,264,417 1,356,175 2,908,242 214% 3
Long-term receivables 1,072,727 375,562 697,165 186% 4
Fixed assets 6,793,809 14,536,364 (7,742,555) -53% 5
Construction-in-progress 9,447,288 5,761,797 3,685,491 64% 6
Construction materials 2,805,138 1,444,939 1,360,199 94% 7
Other payables 1,746,789 233,268 1,513,521 649% 8
Other current liabilities 3,000,000 1,000,000 2,000,000 200% 9
Long-term loans 4,042,700 8,000,000 (3,957,300) -49% 10
Convertible bonds 203,228 1,111,810 (908,582) -82% 11
Deferred income tax liabilities 1,281,682 387,129 894,553 231% 12
Share capital 11,695,190 5,662,849 6,032,341 107% 13
Capital reserves 4,418,942 7,272,549 (2,853,607) -39% 14
1 The decrease in accounts receivable was mainly caused by the establishment of a limited company for
Zhejiang Datang International Wushashan Power Project as a subsidiary of the Company.
2 The decrease in prepayments was mainly caused by the establishment of a limited company for Zhejiang
Datang International Wushashan Power Project as a subsidiary of the Company.
3 The increase in available-for-sale financial assets was owing to the rise in the market price of the
shares of Daqin Railway held by the Company.
4 The increase in long-term receivables was mainly due to the increase of entrusted loans by the
Company to subsidiaries.
5 The decrease in fixed assets was mainly caused by the establishment of a limited company for
Zhejiang Datang International Wushashan Power Project as a subsidiary of the Company.
6 The increase in construction in progress was mainly due to the continuing investment in the projects
under construction.
7 The increase in construction materials was mainly due to the continuing investment in the projects
under construction.
8 The increase in other payables was mainly due to the payables of the consideration in relation to
the acquisitions of part of the equity interests of Yuzhou Mining and Changtan Coal.
9 The increase in other current liabilities was mainly due to the additional issue of short-term
commercial papers.
10 The decrease in long-term loans was mainly caused by the establishment of a limited company for
Zhejiang Datang International Wushashan Power Project as a subsidiary of the Company.
11 The decrease in convertible bonds was due to the conversion of the majority of the convertible bonds
into overseas-listed shares during the reporting period.
12 The increase in deferred income tax liabilities was mainly due to the increase in the market price
of the shares of Daqin Railway held by the Company, which is accounted for as available-for-sale
financial assets.
13 The increase in share capital was due to the conversion of convertible bonds into overseas-listed
shares and the capitalisation of capital reserve fund during the reporting period.
14 The decrease in capital reserves was mainly due to the capitalisation of capital reserve fund during
the reporting period.
3.2 Analysis and explanation of progress and impact of major matters and solutions
( ) Applicable ( X ) Not applicable
3.3 Undertakings made by the Company, shareholders and the de facto controller and their implementation
( ) Applicable ( X ) Not applicable
3.4 Warning and explanation in the forecast of the possible aggregate net profits from the beginning of the
year to the end of the next reporting period becoming a loss or significant changes compared to the
corresponding period of the previous year
( ) Applicable ( X ) Not applicable
3.5 Other significant matters which require explanation
3.5.1 The Company's equity interests in other listed companies
( X ) Applicable ( ) Not applicable
No. Stock code Abbreviation Number of Percentage Initial Account category
shares of shareholding investment
held in the costs
(shares) company (%) (RMB '000)
1 601006 Daqin Railway 167,429 1.29 496,149 Available-for-sale
financial assets
Total 167,429 - 496,149 -
3.5.2 The Company's equity interests in unlisted financial enterprises and proposed listed companies
( X ) Applicable ( ) Not applicable
Name of shareholding Initial investment Number of shares held Percentage of Book value as at the
amount (shares) shareholding in the end of the reporting
(RMB '000) company period
(%) (RMB '000)
China Datang Corporation 100,000 - 20.00 124,703
Finance Company
China Continent Property 103,000 100,000,000 5.81 103,000
& Casualty Insurance
Company Ltd.
Sub-total 203,000 - - 227,703
By Order of the Board
Datang International Power Generation Co., Ltd.
Zhai Ruoyu
Chairman
Beijing, the PRC, 25 October 2007
As at the date of this announcement, the directors of the Company are:
Zhai Ruoyu, Zhang Yi, Hu Shengmu, Fang Qinghai, Zhou Gang, Liu Haixia, Guan
Tiangang, Su Tiegang, Ye Yonghui, Li Gengsheng, Xie Songlin*, Liu Chaoan*, Yu
Changchun* and Xia Qing*
* Independent non-executive directors
Please also refer to the published version of this announcement in South China
Morning Post.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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