Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
CGN Power Co., Ltd.*
中國廣核電力股份有限公司
(A joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code:1816)
INSIDE INFORMATION
THIRD QUARTERLY REPORT OF 2019
RESUMPTION OF TRADING
This announcement is made by CGN Power Power Co., Ltd.* (the "Company", together with its subsidiaries, collectively, the "Group") pursuant to Rule 13.09 and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of The Laws of Hong Kong).
RESUMPTION OF TRADING
At the request of the Company, trading in the shares of the Company on the Stock Exchange was halted from 9:21 a.m. on October 31, 2019 pending the release of this announcement. An application has been made to the Stock Exchange for resumption of trading in the shares of the Company on the Stock Exchange with effect from 9:00 a.m. on November 1, 2019.
By Order of the Board
CGN Power Co., Ltd.*
Zhang Shanming
Chairman
The PRC, October 31, 2019
As of the date of this announcement, the Board comprises Mr. Gao Ligang as executive Director; Mr. Zhang Shanming, Mr. Tan Jiansheng, Mr. Shi Bing, Ms. Zhong Huiling and Mr. Zhang Yong,
1
as non-executive Directors; Mr. Na Xizhi, Mr. Hu Yiguang and Mr. Francis Siu Wai Keung, as independent non-executive Directors.
* For identification purpose only
2
CGN Power Co., Ltd* 2019 Third Quarterly Report
CGN Power Co., Ltd.*
2019 Third Quarterly Report
October 2019
1
CGN Power Co., Ltd* 2019 Third Quarterly Report
- IMPORTANT NOTICE
The board of directors, the supervisory committee and directors, supervisors and senior management of the Company warrant the truthfulness, accuracy and completeness of the contents in this quarterly report, and warrant that there are no false representations, misleading statements, or material omissions of information in the report, and they jointly and severally accept responsibility for the report.
All directors have attended the board meeting to review this quarterly report.
Mr. Zhang Shanming, the legal representative of the Company, Mr. Yin Engang, the person-in-charge of accounting affairs and Ms. Cheng Chao, the person-in-charge of accounting department (the head of accounting department) hereby declare and warrant the truthfulness, accuracy and completeness of the financial statements in this quarterly report.
Definitions | ||
Terms | Means | Definitions |
"Our Company", the | means | CGN Power Co., Ltd* (中國廣核電力股份有限公 |
"Company", "CGN Power", | ||
司) | ||
"we" | ||
"Group" | means | CGN Power Co., Ltd* and its subsidiaries |
means | Yangjing Nuclear Power Co., Ltd* (陽江核電有限公 | |
"Yangjiang Nuclear" | 司 ), being a subsidiary which is directly and | |
indirectly owned as to 61.20% by the Company | ||
means | Taishan Nuclear Power Joint Venture Co., Ltd* (台山 | |
"Taishan Nuclear" | 核電合營有限公司), being a subsidiary directly and | |
indirectly owned as to 51% by the Company | ||
means | China Nuclear Power Engineering Co., Ltd* (中廣核 | |
"CGN Engineering" | 工程有限公司), being a wholly-owned subsidiary of | |
the Company | ||
2
CGN Power Co., Ltd* 2019 Third Quarterly Report
- COMPANY OVERVIEW
1. Major Accounting Data and Financial Indicators
Does the Company requires retrospective adjustment or restatement of the financial data for previous years?
√ Yes □No
Reasons for retrospective adjustment or restatement
Correction of accounting error; other reasons
At the end of this reporting period | At the end of previous year | Changes between the end of this | ||||||||
reporting period and the end of | ||||||||||
previous year | ||||||||||
Before the adjustment | After the adjustment | After the adjustment | ||||||||
Total assets (RMB) | 396,273,433,077.62 | 368,555,670,360.28 | 368,555,670,360.28 | 7.52% | ||||||
Net asset attributable to | 88,768,180,698.15 | 71,114,915,512.70 | 71,114,915,512.70 | 24.82% | ||||||
the shareholders of the | ||||||||||
listed Company (RMB) | ||||||||||
This reporting period | Previous corresponding period | Changes | From the | Previous corresponding period | From the | |||||
between this | beginning of | beginning of | ||||||||
reporting | the year to | the year to | ||||||||
period and | the end of | the end of | ||||||||
previous | this | this | ||||||||
corresponding | reporting | reporting | ||||||||
period | period | period | ||||||||
compared | ||||||||||
with the | ||||||||||
previous | ||||||||||
correspondin | ||||||||||
g period | ||||||||||
Before the | After the | After the | Before the | After the | After the | |||||
adjustment | adjustment | adjustment | adjustment | adjustment | adjustment | |||||
Operating revenue | 16,616,070,641.67 | 14,046,651,383 | 13,364,184,840.12 | 24.33% | 43,138,752,0 | 37,057,055,661.50 | 36,374,589,117.77 | 18.60% | ||
(RMB) | .85 | 57.62 | ||||||||
Net profitattributable to | 3,275,748,380.33 | 3,139,540,107. | 2,213,302,579.00 | 48.00% | 8,298,333,28 | 7,456,881,528.69 | 6,779,659,559.23 | 22.40% | ||
shareholders of the | 23 | 5.16 | ||||||||
listed Company (RMB) | ||||||||||
Net profit attributable to | 3,203,601,005.48 | 3,109,303,451. | 2,183,065,923.73 | 46.75% | 8,017,696,07 | 7,398,522,244.21 | 6,721,300,274.75 | 19.29% | ||
the shareholders of the | 96 | 3.88 | ||||||||
listed Company | ||||||||||
3
CGN Power Co., Ltd* 2019 Third Quarterly Report
(excluding the | ||||||||
non-recurring gains or | ||||||||
losses) (RMB) | ||||||||
Net cash flows from | 9,737,721,130.84 | 8,718,717,132. | 8,936,745,832.41 | 8.96% | 24,557,715,3 | 22,824,425,114.12 | 23,144,425,114.12 | 6.11% |
operating activities | 41 | 63.69 | ||||||
(RMB) | ||||||||
Basic earnings per share | 0.0695 | 0.0691 | 0.0487 | 42.71% | 0.1804 | 0.1641 | 0.1492 | 20.91% |
(RMB per share) | ||||||||
Diluted earnings per | 0.0695 | 0.0691 | 0.0487 | 42.71% | 0.1804 | 0.1641 | 0.1492 | 20.91% |
share (RMB per share) | ||||||||
Weighted average return | 4.16% | 4.59% | 3.25% | 27.75% | 11.07% | 10.96% | 10.26% | 7.92% |
on equity | ||||||||
Reasons for changes in accounting policies and correction of accounting errors
In 2018, based on the practical experience, the Group continued to refine and improve the management on receivables, and revised the method of making bad debt provision for receivables in accordance with the relevant requirements under the China Accounting Standards for Business Enterprises from a more cautious perspective with reference to the practices of A shares listed companies in the same industry while adopting the retrospective restatement method.
Other reasons for retrospective adjustment or restatement
The general contract of the Hongyanhe Phase I project was settled in the fourth quarter of 2018. During the A shares initial public offering vetting process of the Company according to the relevant requirements, this matter was treated as a post-reporting period event in the audited financials as at September 30, 2018.
Non-recurring Gains or Losses Items and the related amount √Applicable □Not applicable
Unit: RMB | |||
Amounts from the | |||
Item | beginning of the year | Remarks | |
to the end of this | |||
reporting period | |||
Primarily due to the | |||
gains of RMB143 | |||
Gains or losses from disposal of non-current | million from the disposal | ||
of a subsidiary of the | |||
assets (including the write-off part of asset | 143,073,493.12 | ||
impairment provision) | Company, namely | ||
Shanghai Engineering | |||
Science & Technology | |||
Co., Ltd (上海中廣核工 | |||
4 |
CGN Power Co., Ltd* 2019 Third Quarterly Report | ||||||||
程科技有限公司) by | ||||||||
CGN Engineering | ||||||||
Government grants recognized in profit or loss | Primarily due to the | |||||||
for the period (except for those closely related to | government grants from | |||||||
the Company's business and for fixed or | 240,710,515.24 | local finance bureau and | ||||||
quantitative purposes in accordance with national | government funding for | |||||||
uniform standards) | research projects | |||||||
Except for the effective hedging transactions | ||||||||
related to the normal operation of the Company, | ||||||||
the investment income arising from holding | ||||||||
financial assets, derivative financial assets, the | ||||||||
gains or losses from changes in fair value arising | -4,853,099.69 | |||||||
from liabilities held for trading and derivative | ||||||||
financial liabilities, as well as the investment | ||||||||
income arising from disposal of financial assets | ||||||||
and | liabilities | held | for | trading | and | |||
available-for-sale financial assets | ||||||||
Receivables which are impaired individually as | ||||||||
well as the reversal of impairment provision for | 1,236,300.00 | |||||||
contract assets | ||||||||
Other non-operating income and expenses other | -9,634,564.25 | |||||||
than the items above | ||||||||
Other gains or losses items that meet the | -1,316,174.84 | |||||||
definition of non-recurring gains or losses | ||||||||
Less: income tax effect | 46,317,647.20 | |||||||
Non-controlling interests effect (net of tax) | 42,261,611.10 | |||||||
Total | 280,637,211.28 | -- |
Reasons should be provided for non-recurringgains and losses items defined by the Company in accordance with the definitions in the "Interpretative Announcement for Information Disclosure of Companies That Offer Securities to the Public No. 1 - Non-recurringGains and Losses" (《公 開發行證券的公司信息披露解釋性公告第1號--非經常性損益》),and for non-recurringgains and losses items to be defined as recurring gains and losses items listed in "Interpretative Announcement for Information Disclosure of Companies That Offer Securities to the Public No.1 - Non-recurringGains and Losses" (《公開發行證券的公司信息披露解釋性公告第1 號--非經常性損益》)
□ Applicable √ Not applicable
During the reporting period, there was no event in which the non-recurring gains and losses items defined in the "Interpretative Announcement for Information Disclosure of Companies That Offer Securities to the Public No.1 - Non-recurring Gains and Losses" (《公開發行證券的 公司信息披露解釋性公告第1號--非經常性損益》) was defined as recurring gains and losses items.
5
CGN Power Co., Ltd* 2019 Third Quarterly Report
2. Total number of shareholders and shareholdings of the top ten shareholders as at the end of the reporting period
- Number of shareholders of ordinary shares of the Company and shareholders of the preferred shares of the Company whose voting rights have been restored and shareholdings of the top 10 shareholders of the Company
Unit: share | |||||||||
Shareholders of ordinary shares of | 698,255(of which 694,520 are A share | Shareholders of preference shares of | |||||||
the Company whose voting rights | 0 | ||||||||
the Company at the end of this | shareholders and 3,735 are H share | have been restored at the end of this | |||||||
reporting period | shareholder) | ||||||||
reporting period (if any) | |||||||||
Shareholdings of the top 10 shareholders | |||||||||
Percenta | Number of shares held | Pledged or frozen | |||||||
Name of | ge of | Number of | |||||||
Nature of shareholders | subject to trading | ||||||||
shareholders | shares | shares held | Status of shares | Number | |||||
restrictions | |||||||||
held | |||||||||
China General | |||||||||
Nuclear Power | |||||||||
Corporation (中國 | State-owned legal person | 57.78% | 29,176,641,375 | 29,176,641,375 | |||||
廣核集團有限公 | |||||||||
司) | |||||||||
HKSCC Nominees | Overseas legal person | 16.11% | 8,134,715,440 | 0 | |||||
Limited | |||||||||
Guangdong | |||||||||
Hengjian | |||||||||
Investment Holding | State-owned legal person | 6.79% | 3,428,512,500 | 3,428,512,500 | |||||
Co., Ltd. (廣東恒健 | |||||||||
投資控股有限公 | |||||||||
司) | |||||||||
China National | |||||||||
Nuclear | |||||||||
Corporation (中國 | State-owned legal person | 3.33% | 1,679,971,125 | 1,679,971,125 | |||||
核工業集團有限公 | |||||||||
司) | |||||||||
National Council | |||||||||
for Social | |||||||||
Security Fund (社 | State-owned legal person | 2.01% | 1,014,875,000 | 0 | |||||
會保障基金理事 | |||||||||
會) | |||||||||
China Life | |||||||||
Insurance Company | State-owned legal person | 1.33% | 670,771,000 | 0 | |||||
Limited (中國人壽 | |||||||||
保險股份有限公 | |||||||||
6
CGN Power Co., Ltd* 2019 Third Quarterly Report
司) | |||||||
BlackRock, Inc. | Overseas legal person | 1.31% | 660,115,787 | 0 | |||
Citigroup Inc. | Overseas legal person | 1.30% | 657,862,872 | 0 | |||
China Construction | |||||||
Bank Corporation - | |||||||
Yifangda 3 years | |||||||
Closed Operation | |||||||
Strategy Placement | |||||||
Flexible Allocation | |||||||
Hybrid Securities | Others | 1.10% | 555,485,000 | 555,485,000 | |||
Investment Fund | |||||||
(LOF) (中國建設銀 | |||||||
行股份有限公司- | |||||||
易方達 3 年封閉運 | |||||||
作戰略配售靈活配 | |||||||
置混合型證券投資 | |||||||
基金) | |||||||
Industrial and | |||||||
Commercial Bank | |||||||
of China Limited - | |||||||
Southern 3 years | |||||||
Closed Operation | |||||||
Strategy Placement | |||||||
Flexible Allocation | |||||||
Hybrid Securities | Others | 0.84% | 424,188,000 | 424,188,000 | |||
Investment Fund | |||||||
(LOF)(中國工商銀 | |||||||
行股份有限公司- | |||||||
南方 3 年封閉運作 | |||||||
戰略配售靈活配置 | |||||||
混合型證券投資基 | |||||||
金) | |||||||
Shareholdings of the top 10 shareholders whose shares are subject to trading restrictions | |||||||
Name of shareholders | Number of shares held subject to trading restrictions | Types of shares | |||||
Types of shares | Number | ||||||
HKSCC NOMINEES LIMITED | 8,134,703,440 | Overseas listed | 8,134,703,440 | ||||
foreign shares | |||||||
National Council for Social Security Fund (社會 | 1,014,875,000 | Overseas | 1,014,875,000 | ||||
保障基金理事會) | listed foreign | ||||||
shares | |||||||
China Life Insurance Company Limited (中國人 | 670,771,000 | Overseas | 670,771,000 | ||||
壽保險股份有限公司) | listed foreign | ||||||
shares | |||||||
BlackRock, Inc. | 660,115,787 | Overseas | 660,115,787 | ||||
listed foreign | |||||||
7
CGN Power Co., Ltd* 2019 Third Quarterly Report
shares | ||||||
Citigroup Inc. | 657,862,872 | Overseas | 657,862,872 | |||
listed foreign | ||||||
shares | ||||||
RMB-denomina | ||||||
Ye Kai (葉凱) | 4,000,000 | ted ordinary | 4,000,000 | |||
shares | ||||||
Bank of China Limited - Yifangda Shenzhen 100 | RMB-denomina | |||||
exchange traded Index Securities Investment Fund | ||||||
3,828,500 | ted ordinary | 3,828,500 | ||||
(中國銀行股份有限公司-易方達深證 100 交易 | ||||||
shares | ||||||
型開放式指數證券投資基金) | ||||||
RMB-denomina | ||||||
Huang Shuqin (黄淑卿) | 3,000,000 | ted ordinary | 3,000,000 | |||
shares | ||||||
Lin Zhaoxin (林昭昕) | 2,826,700 | RMB-denomi | 2,826,700 | |||
nated | ||||||
ordinary | ||||||
shares | ||||||
Liu Zhihuan (劉志煥) | 2,570,000 | RMB-denomi | 2,570,000 | |||
nated | ||||||
ordinary | ||||||
shares | ||||||
Description of the connected relationship or | 1. Guangdong Hengjian Investment Holding Co., Ltd. (廣東恒健投資控股有限公司) is the | |||||
shareholder of the | China General Nuclear Power Corporation | (中國廣核集團有限公司), | ||||
concert party relationship of the above | ||||||
holding 10.00% of | the total shares; 2. The Company | is not | aware whether | there is any | ||
shareholders | ||||||
connected relationship or concert party relationship among other shareholders | ||||||
Description of top 10 shareholders which engaged | ||||||
in margin financing and securities lending business | Not applicable | |||||
(if any) | ||||||
Have any of the top ten holders of ordinary shares of the Company and the top ten holders of ordinary shares of the Company not subject to trading restriction carried out any agreed share repurchase securities during the reporting period?
□ Yes √ No
None of the top ten holders of ordinary shares of the Company and the top ten holders of ordinary shares of the Company not subject to trading restriction carried out any agreed share repurchase during the reporting period.
- Number of holders of preference shares of the Company and the shareholdings of the top ten holders of preference shares of the Company
- Applicable √ Not applicable
8
CGN Power Co., Ltd* 2019 Third Quarterly Report
- SIGNIFICANT EVENTS
1. Circumstances for changes in key accounting items and financial indicators during the reporting period and the reasons thereof
√Applicable □Not applicable
Consolidated statement of financial position
Unit: RMB | ||||
Item | September 30, 2019 | December 31, 2018 | Change | Analysis of reasons for |
rate | change | |||
Prepayments | 7,204,011,680.31 | 5,128,948,753.87 | 40.5% | Mainly due to the increase in |
prepayment for the purchase of | ||||
nuclear fuel and the increase in | ||||
prepayment for construction | ||||
projects | ||||
Construction in | 36,766,526,269.54 | 74,624,722,113.05 | -50.7% | Mainly due to conversion of |
progress | construction in progress into | |||
fixed assets following | ||||
commercial operation of | ||||
Yangjiang Unit 6 and Taishan | ||||
Unit 2 | ||||
Accounts payable | 22,165,139,054.52 | 15,986,899,682.85 | 38.6% | Mainly due to the increase in |
construction, installation and | ||||
equipment fees accrued and | ||||
payable to suppliers following | ||||
commercial operation of | ||||
Yangjiang Unit 6 and Taishan | ||||
Unit 2 | ||||
Contract liabilities | 2,460,655,603.95 | 835,799,748.43 | 194.4% | Mainly due to the development |
of construction and installation | ||||
business of CGN Engineering, | ||||
with the balance increased in | ||||
accordance with the progress | ||||
of contract settlement | ||||
Other current | 500,618,161.87 | 964,545,364.41 | -48.1% | Mainly due to the decrease in |
liabilities | pending output tax of CGN | |||
Engineering | ||||
Capital reserve | 10,692,956,634.57 | 3,350,519,181.82 | 219.1% | Mainly due to the increase in |
capital reserve of the Company | ||||
following the initial public | ||||
offering of A shares | ||||
Other | 916,513,874.86 | 699,854,140.51 | 31.0% | Mainly due to exchange |
9 |
CGN Power Co., Ltd* 2019 Third Quarterly Report | ||||||
comprehensive | differences arising on | |||||
income | translation of financial | |||||
statements denominated in | ||||||
foreign currencies | ||||||
Consolidated statement of profit or loss and other comprehensive income from the beginning of the year to the end of the reporting period
Unit: RMB | ||||
Item | January-September 2019 | January-September | Change rate | Analysis of reasons for change |
2018 | ||||
Other gains | 2,161,260,637.32 | 1,341,982,087.40 | 61.0% | Mainly due to the increase in |
amounts of value-added tax | ||||
refunds and government grants | ||||
received | ||||
Investment income | 1,023,197,000.56 | 708,380,769.64 | 44.4% | Mainly due to the disposal of |
Shanghai Engineering Science & | ||||
Technology Co., Ltd (上海中廣 | ||||
核工程科技有限公司) and | ||||
increase in investment income as | ||||
recognized under the equity | ||||
method | ||||
Credit impairment | 50,734,348.38 | 337,259,461.58 | -85.0% | Mainly due to the change in |
losses | balance of receivables | |||
Income tax | 1,740,605,703.44 | 1,075,704,225.03 | 61.8% | Increase in income tax expenses |
expenses | is mainly due to the gradual | |||
expiration of the preferential | ||||
policies for income tax | ||||
(three-year full exemption | ||||
followed by three-year half | ||||
exemption) of certain nuclear | ||||
power generating units | ||||
Consolidated statement of cash flows from the beginning of the year to the end of the reporting period
Unit: RMB | ||||
Item | January-September 2019 | January-September | Change rate | Analysis of reasons for change |
2018 | ||||
Tax refunds | 2,106,333,639.42 | 1,257,404,516.67 | 67.5%Mainly due to the increase in | |
amount of value-added tax | ||||
refunds received | ||||
Cash payments to | 5,238,835,391.00 | 3,987,618,396.28 | 31.4%Mainly due to salaries and | |
and on behalf of | benefits paid to employees being | |||
employees | recognized as business activities | |||
following commercial operation | ||||
10 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
of Yangjiang Units 5 and 6, and | |||
Taishan Units 1 and 2, resulting | |||
in an increase over the previous | |||
corresponding period | |||
Other cash | 2,014,788,083.93 | 1,481,623,784.58 | 36.0%Mainly due to new units being |
payments relating to | put into commercial operation | ||
operating activities | and the increase in cash paid for | ||
purchase of nuclear fuel | |||
Cash received from | 674,924,891.00 | 182,997,299.38 | 268.8%Mainly due to increase in |
investment income | dividend by associates | ||
Other cash received | 1,894,590,537.50 | 1,399,895,967.81 | 35.3%Mainly due to increase in the |
relating to investing | amount of matured three-month | ||
activities | fixed deposits | ||
Cash paid for | 6,429,198,385.30 | 357,995,925.00 | 1695.9%Mainly due to increase in |
investments | purchase of financial products | ||
Net cash paid for | 0.0 | 232,680,500.00 | -100.0%Mainly due to the acquisition of |
acquisition of | three companies under common | ||
subsidiaries and | control in the previous year, i.e. | ||
other business | CGN Ocean Power Co., Ltd. (中 | ||
entities | 廣核海洋能源有限公司), CGN | ||
Hebei Thermal Power Co., Ltd. | |||
(中廣核河北熱電有限公司) and | |||
CGN Power Sales Co., Ltd. (中 | |||
廣核電力銷售有限公司). | |||
Other cash paid | 2,079,536,283.50 | 1,517,449,810.58 | 37.0%Mainly due to increase in |
relating to investing | three-month fixed deposits | ||
activities | |||
Cash receipts from | 13,754,894,013.20 | 3,106,455,899.00 | 342.8%Mainly due to the funds raised |
capital contributions | from the initial public offering of | ||
A shares of the Company | |||
Other cash received | 789,004,579.36 | 421,902,000.00 | 87.0%Mainly due to investment funds |
relating to financing | received from shareholders for | ||
activities | the construction of | ||
Fangchenggang Units 3 and 4 | |||
and the consideration received | |||
for the equity transfer of 17% in | |||
Yangjiang Nuclear | |||
Cash repayments of | 44,194,307,343.80 | 32,538,142,685.86 | 35.8%Mainly due to the increase in the |
borrowings | amount of repayment of | ||
borrowings due to new units | |||
being put into commercial | |||
operation | |||
11 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
2. Progress of significant events and analysis of their impacts and solutions
√Applicable □Not applicable
-
Yangjiang Unit 6 is qualified for commercial operation
On July 24, 2019, Yangjiang Unit 6 had completed all commissioning work and was qualified for commercial operation and commenced on-grid power generation statistics. Six planned power generation units of Yangjiang Nuclear had fully been put into operation. Yangjiang Nuclear already obtained the Electric Power Business Permit of Yangjiang Unit 6 in late September. - Completion of the A shares offering
On July 26, 2019, the China Securities Regulatory Commission approved the A shares offering of the Company. After the publication of the Prospectus for Initial Public Offerings (A shares) (《首次公開發行股票(A股)招股說明書》) on August 9, 2019, the Company issued 5,049,861,100 RMB-denominated ordinary shares (A shares) at the issue price of RMB2.49 per share on August 12, 2019, and the proceeds raised amounted to RMB12,574,154,139.00 in total. After deducting the issuance expenses of RMB184,378,579.56 (excluding the value-added tax), the actual net proceeds raised amounted to RMB12,389,775,559.44. The above-mentioned proceeds raised were all received on August 16, 2019. On August 26, 2019, the A shares of the Company were listed and traded, and the A shares offering was completed. - Taishan Unit 2 is qualified for commercial operation
On September 7, 2019, Taishan Unit 2 had completed all commissioning work and was qualified for commercial operation and commenced on-grid power generation statistics. Two ERP nuclear power generation units of Taishan Nuclear had fully been put into operation, the total installed capacity is 2x1,750MW. Taishan Nuclear is in the process of obtaining the Electric Power Business Permit of Taishan Unit 2 in accordance with the relevant requirements. - Progress in the use of proceeds raised from issuance of A shares offering
On August 26, 2019, the Company and its subsidiaries which have resolved to use proceeds from the A shares offering for project investment (the "Use of Proceeds Projects") jointly entered into the "Tripartite Supervision Agreement on the Use of Proceeds"(《募集資金三方監管協議》) with the relevant underwriters and the bank. On September 12, 2019, the board of directors of the Company reviewed and approved the three proposals regarding the use of proceeds to replace those investment projects which have used its own funds, the use of proceeds to provide entrustment loans to those subsidiaries for the Use of Proceeds Projects, and the use of temporary idle funds from the proceeds from the A shares offering to purchase principal-guaranteed wealth
12
CGN Power Co., Ltd* 2019 Third Quarterly Report
management products. The above proposals in the use of proceeds are in compliance with the relevant rules and regulations and have fulfilled the relevant approval process. Such use of proceeds proposals have not affected the usual conduct of the Use of Proceeds Projects, and there are no events which could change or be treated as changing the directions in the use of proceeds or jeopardise the interests of the shareholders of the Company.
On September 16, 2019, the Company utilized the temporary idle funds from the proceeds from the A shares offering to subscribe for principal-guaranteed wealth management products with certain bank in accordance with the amount and duration as approved in the above-mentioned resolution. The Company shall ensure that the normal production, operation and the construction of the Use of Proceeds Projects will be maintained while using the temporary idle funds from the proceeds to subscribe for principal-guaranteed wealth management products. The Company shall adhere to the principles of standard operation, value preservation and risk prevention and ensure that the normal production, operation and the construction of the Use of Proceeds Projects would not be affected. There shall not be any event which could be treated as changing the directions in the use of proceeds or jeopardise the interests of the shareholders of the Company. At the same time, it could also maximize the return on unutilized funds and bring better return on investment for the Company and its shareholders.
Summary of Significant | Date of Disclosure | Search index of interim report |
Events | disclosure website | |
HKEXnews website | ||
Yangjiang Unit 6 is qualified for | July 24, 2019 | (https://www1.hkexnews.hk): Voluntary |
commercial operation | Announcement - Yangjiang Unit 6 is | |
Qualified for Commercial Operation | ||
HKEXnews website | ||
July 26, 2019 | ||
Approval of A Share Offering | ||
Cninfo (www.cninfo.com.cn), Security | ||
Times, China Securities Journal, | ||
August 9, 2019 | Shanghai Securities News(《證券時報》 | |
《中國證券報》《上海證券報》《證券 | ||
日報》): Prospectus of initial public | ||
The Company completed initial | offering of RMB-denominated ordinary | |
public offering of A shares | shares | |
Cninfo (www.cninfo.com.cn), Security | ||
Times, China Securities Journal, | ||
August 16, 2019 | Shanghai Securities News(《證券時報》 | |
《中國證券報》《上海證券報》《證券 | ||
日報》): Announcement on the results of | ||
initial public offering of A shares | ||
August 26, 2019 | Cninfo (www.cninfo.com.cn), Security | |
Times, China Securities Journal, | ||
13 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Shanghai Securities News(《證券時報》 | ||
《中國證券報》《上海證券報》《證券 | ||
日報》): Announcement on the risk | ||
notice at the first day of listing, | ||
Announcement No: 2019-001 | ||
Cninfo (www.cninfo.com.cn), Security | ||
Times, China Securities Journal, | ||
Taishan Unit 2 is expected to be | Shanghai Securities News(《證券時報》 | |
《中國證券報》《上海證券報》《證券 | ||
qualified for commercial | September 6, 2019 | |
日報》): Voluntary Announcement - | ||
operation recently | ||
Taishan Unit 2 is Expected to be | ||
Qualified for Commercial Operation | ||
Recently, Announcement No.: 2019-008 | ||
Cninfo (www.cninfo.com.cn), Security | ||
Times, China Securities Journal, | ||
Shanghai Securities News(《證券時報》 | ||
August 26, 2019 | 《中國證券報》《上海證券報》《證券 | |
日報》): Announcement on the signing | ||
of the Tripartite Supervision Agreement | ||
on the Use of Proceeds, Announcement | ||
No.: 2019-002 | ||
Cninfo (www.cninfo.com.cn), Security | ||
Times, China Securities Journal, | ||
Shanghai Securities News(《證券時報》 | ||
《中國證券報》《上海證券報》《證券 | ||
日報》): Announcement on the use of | ||
proceeds to replace those investment | ||
projects which have used its own funds, | ||
Progress of the use of proceeds | Announcement No.: 2019-011; | |
from A shares offering | September 12, 2019 | Announcement on the use of proceeds |
to provide entrustment loans to those | ||
subsidiaries for the Use of Proceeds | ||
Projects, Announcement No.: 2019-012; | ||
Announcement on the use of temporary | ||
idle funds from the proceeds from the A | ||
shares offering to purchase | ||
principal-guaranteed wealth | ||
management products, Announcement | ||
No.: 2019-013 | ||
Cninfo (www.cninfo.com.cn), Security | ||
Times, China Securities Journal, | ||
September 16, 2019 | Shanghai Securities News(《證券時報》 | |
《中國證券報》《上海證券報》《證券 | ||
日報》): Announcement on the progress | ||
of the use of temporary idle funds from | ||
14 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
the proceeds from the A shares offering to purchase principal-guaranteed wealth management products, Announcement No.: 2019-014
Progress of repurchase of shares
□ Applicable √ Not applicable
Progress of implementation of reducing shareholding of repurchased shares through centralized auction
□ Applicable √ Not applicable
3. Outstanding commitments made by relevant parties, such as de facto controllers of the Company, shareholders, related parties, acquirers, and the Company during the reporting period
□Applicable √ Not applicable
During the reporting period, there are no outstanding commitments made by relevant parties, such as de facto controllers of the Company, shareholders, related parties, acquirers, and the Company.
4. Financial assets measured at fair value
√ Applicable □ Not applicable
Unit: RMB
Gain or loss | Accumulated | Purchase | Sales | Amount at | ||||
Initial | from changes | fair value | amount | Cumulative | ||||
Type of | amount for | the end of | Source | |||||
investment | in fair value for | changes | for the | gains from | ||||
assets | the reporting | the reporting | of funds | |||||
cost | the current | included in | reporting | investment | ||||
period | period | |||||||
period | equity | period | ||||||
Currently | ||||||||
idle | ||||||||
Others | 6,000,000,000.00 | 0.00 | 0.00 | 6,000,000,000.00 | 0.00 | 0.00 | 6,000,000,000.00 | proceeds |
from A | ||||||||
shares | ||||||||
Financial | Internal | |||||||
derivative | 0.00 | -2,138,697.63 | 0.00 | 0.00 | 0.00 | 6,733,669.91 | 1,006,668.50 | |
instrument | funds | |||||||
Total | 6,000,000,000.00 | -2,138,697.63 | 0.00 | 6,000,000,000.00 | 0.00 | 6,733,669.91 | 6,001,006,668.50 | -- |
15
CGN Power Co., Ltd* 2019 Third Quarterly Report
5. Information on illegal external guarantees
□Applicable √ Not applicable
During the reporting period, the Company had no illegal external guarantees.
6. Information on the non-operating use of funds of the Company by the controlling shareholder and its related parties
□Applicable √Not applicable
During the reporting period, there was no non-operating use of funds of the Company by the controlling shareholder of the Company and its related parties.
7. Particulars on entrusted wealth management
√Applicable □Not applicable
Unit: RMB 0'000 | ||||
Source of funding | Amount of | |||
Specific type | for entrusted | entrusted | Outstanding | Amount due but |
wealth | wealth | balance | not received | |
management | management | |||
Bank wealth | Currently idle | |||
management | proceeds from A | 600,000 | 600,000 | 0 |
product | shares | |||
Total | 600,000 | 600,000 | 0 |
Details of high-risk entrusted wealth management with individually material amounts or a lower level of security or liquidity without guaranteed repayment of principal.
□ Applicable √ Not applicable
Expectation that the entrusted wealth management could not recover the principal or other circumstances that might lead to impairment
□ Applicable √ Not applicable
8. Reception of activities such as survey, communication and interview during the reporting period
√Applicable □Not applicable
16
CGN Power Co., Ltd* 2019 Third Quarterly Report | |||||
Time of reception | Reception manner | Time of visitors | Index of basic information in the | ||
investigation | |||||
Progress of company's new project, | |||||
July 3, 2019 | On-site investigation | Institutions | profitability of Taishan project, | ||
progress of initial public offering of | |||||
A shares | |||||
July 9, 2019 | On-site investigation | Institutions | Asset injection plan, power market | ||
situation, plant site reserve, | |||||
progress of A shares initial public | |||||
offering | |||||
July 10, 2019 | Telephone | Institutions | Progress of A shares initial public | ||
Communication | offering, tax rebate and electricity | ||||
price reduction, new unit | |||||
production progress | |||||
August 22, 2019 | Telephone | Institutions | Interim performance, approval | ||
Communication | status of new project, return rate of | ||||
Taishan project | |||||
August 26, 2019 | On-site investigation | Others | Jiang Dajin, secretary of the board | ||
of directors, interviewed by | |||||
CCTV-2 "Trading Hours"(交易時 | |||||
間) at the Shenzhen Stock | |||||
Exchange "CGN enters A Shares- | |||||
the largest initial public offering | |||||
project welcomed by Shenzhen | |||||
Stock Exchange" | |||||
http://tv.cctv.com/2019/08/26/VID | |||||
EoiOroDrBfCEgf81QNWms1908 | |||||
26.shtml?spm=C22284.PHkq46Hq | |||||
wCaf.S83932.30 | |||||
August 26, 2019 | On-site investigation | Others | Jiang Dajin, secretary of the board | ||
of directors, interviewed by China | |||||
Business Network "One boss of | |||||
nuclear power industry enters A | |||||
shares market - the new | |||||
development of CGN." | |||||
https://m.yicai.com/video/1003077 | |||||
62.html?from=singlemessage&isa | |||||
ppinstalled=0 | |||||
See EasyIR platform of Shenzhen | |||||
Stock Exchange at: | |||||
August 30, 2019 | On-site investigation | Institutions | http://irm.cninfo.com.cn/szse/index. | ||
html | |||||
"003816 CGN Register Of Investor | |||||
Relations Activities Dated | |||||
17 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
September 2, 2019" | |||
September 3, 2019 | On-site investigation | Institutions | See EasyIR platform of Shenzhen |
Stock Exchange at: | |||
http://irm.cninfo.com.cn/szse/inde | |||
x.html | |||
"003816 CGN Register Of Investor | |||
Relations Activities Dated | |||
September 4, 2019" | |||
September 17, 2019 | On-site investigation | Institutions | See EasyIR platform of Shenzhen |
Stock Exchange at: | |||
http://irm.cninfo.com.cn/szse/inde | |||
x.html | |||
"003816 CGN Register Of Investor | |||
Relations Activities Dated | |||
September 18, 2019" | |||
September 26, 2019 | On-site investigation | Institutions | See EasyIR platform of Shenzhen |
Stock Exchange at: | |||
http://irm.cninfo.com.cn/szse/inde | |||
x.html | |||
"003816 CGN Register Of Investor | |||
Relations Activities Dated | |||
September 26, 2019" |
18
CGN Power Co., Ltd* 2019 Third Quarterly Report
IV. FINANCIAL STATEMENTS
I. FINANCIAL STATEMENTS
1. CONSOLIDATED STATEMENT OF FINANCIAL POSITION Prepared by: CGN Power Co., Ltd.*
September 30, 2019
Unit: RMB | ||
Item | September 30, 2019 | December 31, 2018 |
Current assets | ||
Cash at bank and in hand | 22,879,431,175.57 | 15,596,386,387.95 |
Settlement reserve | ||
Placements to banks and other | ||
financial institutions | ||
Financial assets held for | 6,000,000,000.00 | |
trading | ||
Financial assets at fair value | ||
through profit or loss | ||
Derivative financial assets | 4,753,642.10 | |
Bills receivable | 6,353,119.00 | 18,433,532.76 |
Accounts receivable | 6,572,150,290.78 | 6,630,947,443.89 |
Accounts receivable financing | ||
Prepayments | 7,204,011,680.31 | 5,128,948,753.87 |
Premium receivable | ||
Amounts due from reinsurers | ||
Reinsurance contract reserve | ||
receivable | ||
Other receivables | 153,709,745.13 | 519,127,589.11 |
Including:Interest receivable | ||
Dividends receivable | 94,665,541.70 | 146,023,234.13 |
Financial assets purchased | ||
under agreements to resell | ||
Inventories | 19,951,972,643.33 | 21,372,255,356.38 |
Contract assets | 4,082,951,980.62 | 3,409,787,026.47 |
Assets classified as | ||
held-for-sale | ||
Non-current assets due within | 1,100,819.26 | 3,659,033.86 |
one year | ||
Other current assets | 2,741,179,466.71 | 2,703,617,527.46 |
Total current assets | 69,592,860,920.71 | 55,387,916,293.85 |
Non-current assets: | ||
Loans receivables | ||
19 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Debt investments | ||
Financial assets | ||
available-for-sale | ||
Other debt investments | ||
Held-to-maturity investments | ||
Long-term receivables | ||
Long-term equity investments | 10,925,913,394.19 | 10,203,023,176.92 |
Other investment in equity | 453,512,600.00 | 422,689,500.00 |
instruments | ||
Other non-current financial | 812,257.18 | |
assets | ||
Investment properties | 190,398,872.05 | 210,346,041.36 |
Fixed assets | 260,143,733,914.75 | 210,850,206,582.15 |
Construction in progress | 36,766,526,269.54 | 74,624,722,113.05 |
Bearer biological assets | ||
Oil and gas assets | ||
Right-of-use assets | 1,005,831,646.26 | |
Intangible assets | 4,919,141,526.91 | 4,719,796,447.25 |
Development costs | 2,233,635,519.42 | 1,962,455,756.90 |
Goodwill | 419,242,673.32 | 419,242,673.32 |
Long-term deferred expenses | 1,511,470,368.42 | 1,734,658,492.05 |
Deferred tax assets | 1,789,032,291.45 | 1,774,868,398.17 |
Other non-current assets | 6,322,133,080.60 | 6,244,932,628.08 |
Total non-current assets | 326,680,572,156.91 | 313,167,754,066.43 |
Total assets | 396,273,433,077.62 | 368,555,670,360.28 |
Current liabilities: | ||
Short-term loans | 17,499,261,399.32 | 16,366,742,257.35 |
Due to central banks | ||
Placements from banks and | ||
other financial institutions | ||
Financial liabilities held for | ||
trading | ||
Financial liabilities at fair | ||
value through profit or loss | ||
Derivative financial liabilities | 8,229,929.33 | 2,724,971.67 |
Bills payable | 1,784,471,261.24 | 2,260,164,887.24 |
Accounts payable | 22,165,139,054.52 | 15,986,899,682.85 |
Receipts in advance | 2,058,361.07 | |
Contract liabilities | 2,460,655,603.95 | 835,799,748.43 |
Financial assets sold under | ||
agreement to repurchase | ||
Customer deposits and | ||
placements from other financial | ||
institutions | ||
20 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Customer brokerage deposits | ||
Securities underwriting | ||
brokerage deposits | ||
Employee benefits payable | 88,830,467.80 | 42,616,433.80 |
Tax payable | 1,534,675,519.05 | 1,431,294,200.96 |
Other payables | 3,744,150,466.35 | 3,878,479,167.43 |
Including:Interests payable | ||
Dividends payable | 684,132,867.33 | 968,903,753.94 |
Fee and commissions payable | ||
Amounts due to reinsurer | ||
Liabilities classified as | ||
held-for-sale | ||
Non-current liabilities due | 22,011,699,268.02 | 18,853,766,355.93 |
within one year | ||
Other current liabilities | 500,618,161.87 | 964,545,364.41 |
Total current liabilities | 71,797,731,131.45 | 60,625,091,431.14 |
Non-current liabilities: | ||
Reserve of insurance contract | ||
Long-term loans | 173,611,298,520.16 | 179,639,946,139.80 |
Bonds payable | 8,985,888,049.18 | 8,488,044,399.25 |
Including: Preference shares | ||
Perpetual bonds | ||
Lease liabilities | 676,873,110.97 | |
Long-term payables | ||
Long-term employee benefits | 136,466,666.81 | 102,267,273.40 |
payable | ||
Provisions | 4,711,752,787.49 | 4,001,531,754.01 |
Deferred income | 1,430,607,136.98 | 1,395,854,838.75 |
Deferred tax liabilities | 1,210,374,795.45 | 1,177,284,416.72 |
Other non-current liabilities | ||
Total non-current liabilities | 190,763,261,067.04 | 194,804,928,821.93 |
Total liabilities | 262,560,992,198.49 | 255,430,020,253.07 |
Equity: | ||
Share capital | 50,498,611,100.00 | 45,448,750,000.00 |
Other equity instruments | ||
Including: Preference shares | ||
Perpetual bonds | ||
Capital reserve | 10,692,956,634.57 | 3,350,519,181.82 |
Less: Treasury stock | ||
Other comprehensive income | 916,513,874.86 | 699,854,140.51 |
Specific reserve | 215,410,269.02 | 197,139,693.40 |
Surplus reserve | 3,341,495,665.44 | 3,341,495,665.44 |
General provisions | ||
21 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Retained earnings | 23,103,193,154.26 | 18,077,156,831.53 |
Equity attributable to owners (or | 88,768,180,698.15 | 71,114,915,512.70 |
shareholders) of the Company | ||
Non-controlling interests | 44,944,260,180.98 | 42,010,734,594.51 |
Total equity | 133,712,440,879.13 | 113,125,650,107.21 |
Total equity and liabilities | 396,273,433,077.62 | 368,555,670,360.28 |
Company's legal representative: Zhang Shanming
Person-in-charge of accounting: Yin Engang
Head of accounting department: Cheng Chao
2. STATEMENT OF FINANCIAL POSITION OF THE PARENT COMPANY
Unit: RMB | ||
Items | September 30 2019 | December 31, 2018 |
Current assets: | ||
Cash at bank and in hand | 17,235,175,852.08 | 9,741,247,550.24 |
Financial assets held for trading | 6,000,000,000.00 | |
Financial assets at fair value through | ||
profit or loss | ||
Derivative financial assets | ||
Bills receivable | ||
Accounts receivable | 696,199,776.19 | 691,807,188.60 |
Accounts receivable financing | ||
Prepayments | 15,690,267.52 | 12,051,211.58 |
Other receivables | 2,013,250,239.86 | 1,234,738,858.24 |
Including:Interest receivable | ||
Dividends receivable | 2,012,648,899.76 | 1,042,667,333.07 |
Inventories | ||
Contract assets | ||
Assets classified as held-for-sale | ||
Non-current assets due within one year | 600,000,000.00 | 4,000,000,000.00 |
Other current assets | 4,196,778,791.51 | 5,904,124,692.57 |
Total current assets | 30,757,094,927.16 | 21,583,969,501.23 |
Non-current assets: | ||
Debt investments | 10,251,695,025.55 | 6,088,000,000.00 |
Financial assets available-for-sale | ||
Other debt investments | ||
Held-to-maturity investments | ||
Long-term receivables | ||
Long-term equity investments | 79,527,397,579.94 | 78,003,718,957.43 |
Other investment in equity instruments | ||
22 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Other non-current financial assets | ||
Investment properties | ||
Fixed assets | 39,634,746.12 | 37,287,554.98 |
Construction in progress | 78,947,004.54 | 60,323,650.73 |
Bearer biological assets | ||
Oil and gas assets | ||
Right-of-use assets | 134,681,002.23 | |
Intangible assets | 225,452,882.72 | 240,506,543.32 |
Development costs | 1,082,457,433.89 | 773,743,861.01 |
Goodwill | ||
Long-term deferred expenses | ||
Deferred tax assets | ||
Other non-current assets | 39,619,064.23 | 39,060,484.23 |
Total non-current assets | 91,379,884,739.22 | 85,242,641,051.70 |
Total assets | 122,136,979,666.38 | 106,826,610,552.93 |
Current liabilities: | ||
Short-term loans | 10,079,795,252.64 | 9,612,506,721.28 |
Financial liabilities held for trading | ||
Financial liabilities at fair value through | ||
profit or loss | ||
Derivative financial liabilities | ||
Bills payable | ||
Accounts payable | 315,141,421.89 | 429,277,843.18 |
Receipts in advance | ||
Contract liabilities | 21,338,578.53 | 4,384,800.02 |
Employee benefits payable | 24,636,653.52 | 2,544,490.66 |
Tax payable | 2,722,449.30 | 5,322,716.15 |
Other payables | 51,891,387.39 | 41,028,621.80 |
Including:Interests payable | ||
Dividends payable | ||
Liabilities classified as held-for-sale | ||
Non-current liabilities due within one | 2,839,355,771.16 | 165,565,753.43 |
year | ||
Other current liabilities | ||
Total current liabilities | 13,334,881,514.43 | 10,260,630,946.52 |
Non-current liabilities: | ||
Long-term loans | ||
Bonds payable | 8,985,888,049.18 | 8,488,044,399.25 |
Including: Preference shares | ||
Perpetual bonds | ||
Lease liabilities | 59,809,911.57 | |
Long-term payables | ||
Long-term employee benefits payable | 12,427,230.91 | 8,355,898.21 |
23 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Provisions | ||
Deferred income | 500,000.00 | |
Deferred tax liabilities | ||
Other non-current liabilities | ||
Total non-current liabilities | 9,058,625,191.66 | 8,496,400,297.46 |
Total liabilities | 22,393,506,706.09 | 18,757,031,243.98 |
Equity: | ||
Share capital | 50,498,611,100.00 | 45,448,750,000.00 |
Other equity instruments | ||
Including: Preference shares | ||
Perpetual bonds | ||
Capital reserve | 31,781,624,373.32 | 24,441,698,121.44 |
Less: Treasury stock | ||
Other comprehensive income | ||
Specific reserve | ||
Surplus reserve | 2,929,804,225.34 | 2,929,804,225.34 |
Retained earnings | 14,533,433,261.63 | 15,249,326,962.17 |
Total equity | 99,743,472,960.29 | 88,069,579,308.95 |
Total equity and liabilities | 122,136,979,666.38 | 106,826,610,552.93 |
3. CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE REPORTING PERIOD
Unit: RMB | ||
Items | Amount for current period | Amount for prior period |
1. Total revenue | 16,616,070,641.67 | 13,364,184,840.12 |
Including: Operating revenue | 16,616,070,641.67 | 13,364,184,840.12 |
Interest income | ||
Premium earned | ||
Fees and commission income | ||
2. Total operating cost | 11,606,856,356.38 | 9,694,409,351.23 |
Including: Operating cost | 8,896,657,150.38 | 7,261,986,210.81 |
Interest expenses | ||
Fees and commission expenses | ||
Cash surrender value | ||
Claim settlement expenses, net | ||
Net insurance contract reserves | ||
Policy dividend expense | ||
Reinsurance expenses | ||
Tax surcharge | 172,969,779.74 | 177,583,163.39 |
Selling expenses | 21,819,820.11 | 21,902,105.93 |
Administrative expenses | 527,586,924.90 | 495,908,558.15 |
Research and development expenses | 70,968,686.16 | 191,355,556.31 |
Finance costs | 1,916,853,995.09 | 1,545,673,756.64 |
24 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Including: Interest expense | 1,965,214,431.18 | 1,482,361,501.90 |
Interest income | 89,074,412.90 | 51,893,339.20 |
Add: Other gains | 754,147,430.10 | 285,989,198.87 |
Investment income (losses are denoted | 383,452,718.93 | 366,351,723.89 |
by "-") | ||
Including: Income from investment in | 397,698,141.98 | 375,990,683.27 |
associates and joint ventures | ||
Gain on derecognition of financial | ||
assets measured at amortized cost | ||
Foreign exchange gain (losses are | ||
denoted by "-") | ||
Net Exposure hedging gains (losses are | ||
denoted by "-") | ||
Gains (losses) from changes in fair value | -2,643,921.84 | 21,456,663.75 |
(losses are denoted by "-") | ||
Credit impairment loss (losses are | -2,761,717.04 | -2,851,765.96 |
denoted by "-") | ||
Asset impairment loss (losses are | -111,272,915.85 | |
denoted by "-") | ||
Gain (losses) from disposal of assets | -55,337.99 | |
(losses are denoted by "-") | ||
3. Operating profit (losses are denoted by "-") | 6,141,408,795.44 | 4,229,393,055.60 |
Add: non-operating income | 1,448,735.09 | 784,452.56 |
Less: non-operating expenses | 8,240,875.69 | 11,417,607.76 |
4. Total profit (total losses are denoted by "-") | 6,134,616,654.84 | 4,218,759,900.40 |
Less: income tax expenses | 796,546,292.57 | 275,627,987.55 |
5. Net profits (net losses are denoted by "-") | 5,338,070,362.27 | 3,943,131,912.85 |
(I) Classified by continuity of operations | ||
(1)Net profit from continuing operations (net | 5,338,070,362.27 | 3,943,131,912.85 |
losses are denoted by "-") | ||
(2) Net profit from discontinued operations | ||
(net losses are denoted by "-") | ||
(II) Classified by ownership | ||
(1). Net profit attributable to shareholders of | 3,275,748,380.33 | 2,213,302,579.00 |
the parent company | ||
(2). Non-controlling interests | 2,062,321,981.94 | 1,729,829,333.85 |
6. Other comprehensive income, net of tax | 222,593,454.41 | 289,602,817.26 |
Other comprehensive income, net of tax, | 166,773,590.85 | 219,299,114.99 |
attributable to shareholders of the Company | ||
(I) Other comprehensive income that will not | -686,000.00 | 8,480,080.00 |
be reclassified to profit or loss | ||
(1) Change arising from | -686,000.00 | 316,000.00 |
remeasurement of defined benefit plan | ||
(2) Other comprehensive income that | ||
25 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
cannot be transferred to profit or loss under the | ||
equity method | ||
(3) Change in fair value of investment | 8,164,080.00 | |
in other equity instruments | ||
(4) Change in fair value of credit risk | ||
of the Company | ||
(5) Others | ||
(II) Other comprehensive income that may be | 167,459,590.85 | 210,819,034.99 |
reclassified to profit or loss | ||
(1) Other comprehensive income that | ||
can be transferred to profit or loss under the equity | -5,071.84 | |
method | ||
(2) Change in fair value of other debt | ||
investments | ||
(3) Change in fair value of financial | ||
assets available-for-sale | ||
(4) Other comprehensive income due | ||
to reclassification of financial assets | ||
(5) Profit or loss arising from | ||
reclassification of held-to-maturity investments | ||
into available-for-sale financial assets | ||
(6) Impairment loss on other debt | ||
investments | ||
(7) Cash flow hedge | ||
(8) Translation differences arising from | ||
translation of foreign currency financial | 167,459,590.85 | 210,824,106.83 |
statements | ||
(9) Others | ||
Other comprehensive income, net of tax, | 55,819,863.56 | 70,303,702.27 |
attributable to non-controlling interests | ||
7. Total comprehensive income | 5,560,663,816.68 | 4,232,734,730.11 |
Total comprehensive income attributable to | 3,442,521,971.18 | 2,432,601,693.99 |
shareholders of the parent company | ||
Total comprehensive income attributable to | 2,118,141,845.50 | 1,800,133,036.12 |
non-controlling interests | ||
8. Earnings per share: | ||
(1) Basic earnings per share | 0.0695 | 0.0487 |
(2) Diluted earnings per share | 0.0695 | 0.0487 |
If enterprises under common control are merged in current period, the net profit of merged party before merging is RMB, and the net profit of the merged party of last period is RMB.
Company's legal representative: Zhang Shanming
Person-in-charge of accounting: Yin Engang
Head of accounting department: Cheng Chao
26
CGN Power Co., Ltd* 2019 Third Quarterly Report
4. STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME OF THE PARENT COMPANY FOR THE REPORTING PERIOD
Unit: RMB | ||
Items | Amount for current period | Amount for prior period |
1. Operating revenue | 158,051,949.95 | 119,034,392.27 |
Less: Operating costs | 160,263,297.20 | 183,080,027.31 |
Taxes and surcharges | 360.00 | |
Selling expenses | ||
Administrative expenses | 51,299,415.22 | 78,483,624.35 |
Research and development expenses | 9,533,196.76 | 4,004,146.86 |
Finance costs | 60,574,275.90 | 46,966,143.64 |
Including: Interest expenses | 156,165,686.51 | 129,658,651.28 |
Interest income | 66,544,662.57 | 39,831,586.19 |
Add: Other gains | 0.00 | 1,603,867.53 |
Investment income (losses are denoted | 664,450,160.23 | 4,441,538,642.06 |
by "-") | ||
Including: Income from investment in | 62,235,313.49 | 111,015,890.28 |
associates and joint ventures | ||
Gain on derecognition of financial | ||
assets measured at amortized cost | ||
Net Exposure hedging gains (losses | ||
are denoted by "-") | ||
Gains (losses) from changes in fair | 0.02 | 627,732.82 |
value (losses are denoted by "-") | ||
Credit impairment loss (losses are | 308,055.48 | -551,473.70 |
denoted by " -") | ||
Asset impairment gains (losses) | ||
(losses are denoted by "-") | ||
Gains (losses) from disposal of assets | ||
(losses are denoted by " -") | ||
2. Operating profit (losses are denoted by "-") | 541,139,980.60 | 4,249,718,858.82 |
Add: non-operating income | 2.00 | 0.20 |
Less: non-operating expenses | 643,550.21 | |
3. Total profit (total losses are denoted by "-") | 541,139,982.60 | 4,249,075,308.81 |
Less: income tax expenses | -168,604,535.36 | |
4. Net profits (net losses are denoted by "-") | 541,139,982.60 | 4,417,679,844.17 |
(1) Net profit from continuing operations | 541,139,982.60 | 4,417,679,844.17 |
(net losses are denoted by "-") | ||
(2) Net profit from discontinued operations | ||
(net losses are denoted by "-") | ||
5. Other comprehensive income, net of tax | ||
(I) Other comprehensive income that will | ||
not be reclassified to profit or loss | ||
27 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
(1) | Change arising from | ||
remeasurement of defined benefit plan | |||
(2) Other comprehensive income | |||
that cannot be transferred to profit or loss under | |||
the equity method | |||
(3) Change in fair value of | |||
investment in other equity instruments | |||
(4) | Change in fair value of credit | ||
risk of the Company | |||
(5) | Others | ||
(II) Other comprehensive income that may | |||
be reclassified to profit or loss | |||
(1) | Other comprehensive income | ||
that can be transferred to profit or loss under the | |||
equity method | |||
(2) | Change in fair value of other | ||
debt investments | |||
(3) | Change in fair value of financial | ||
assets available-for-sale | |||
(4) | Other comprehensive income | ||
due to reclassification of financial assets | |||
(5) | Profit or loss arising from | ||
reclassification of held-to-maturity investments | |||
into available-for-sale financial assets | |||
(6) | Impairment loss on other debt | ||
investments | |||
(7) | Cash flow hedge | ||
(8) Translation differences arising | |||
from translation of foreign currency financial | |||
statements | |||
(9) | Others | ||
6. Total comprehensive income | 541,139,982.60 | 4,417,679,844.17 | |
7. Earnings per share: | |||
(1) Basic earnings per share | |||
(2) Diluted earnings per share | |||
5. CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FROM THE BEGINNING OF THE YEAR TO THE END OF THE REPORTING PERIOD
Unit: RMB | ||
Item | Amount for current period | Amount for prior period |
1. Total revenue | 43,138,752,057.62 | 36,374,589,117.77 |
28 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Including: Operating revenue | 43,138,752,057.62 | 36,374,589,117.77 |
Interest income | ||
Premium earned | ||
Fees and commission income | ||
2. Total operating cost | 31,854,561,316.75 | 26,605,105,761.73 |
Including: Operating cost | 23,727,475,312.08 | 19,856,815,920.27 |
Interest expenses | ||
Fees and commission expenses | ||
Cash surrender value | ||
Claim settlement expenses, net | ||
Net insurance contract reserves | ||
Policy dividend expense | ||
Reinsurance expenses | ||
Tax surcharge | 517,045,108.56 | 453,817,263.84 |
Selling expenses | 53,558,919.75 | 66,699,037.96 |
Administrative expenses | 1,725,707,573.58 | 1,462,446,739.00 |
Research and development | 297,820,989.41 | 361,636,245.04 |
expenses | ||
Finance costs | 5,532,953,413.37 | 4,403,690,555.62 |
Including: Interest expenses | 5,550,546,495.28 | 4,359,158,909.93 |
Interest income | 232,848,901.02 | 179,401,300.41 |
Add:Other gains | 2,161,260,637.32 | 1,341,982,087.40 |
Investment income (losses are | 1,023,197,000.56 | 708,380,769.64 |
denoted by "-") | ||
Including: Income from | 869,567,065.56 | 718,399,018.24 |
investment in associates and joint ventures | ||
Gain on derecognition of | ||
financial assets measured at amortized cost | ||
Foreign exchange gain (losses are | ||
denoted by "-") | ||
Net Exposure hedging gains | ||
(losses are denoted by "-") | ||
Gain (losses) from changes in fair | -5,512,782.38 | 32,074,643.47 |
value (losses are denoted by "-") | ||
Credit impairment loss (losses are | 50,734,348.38 | 337,259,461.58 |
denoted by "-") | ||
Asset impairment loss (losses are | -111,272,915.85 | |
denoted by "-") | ||
Gain (losses) from disposal of | -74,361.29 | |
assets (losses are denoted by "-") | ||
3. Operating profit (losses are denoted by | 14,513,869,944.75 | 12,077,833,040.99 |
"-") | ||
Add: non-operating income | 6,974,753.66 | 4,190,170.61 |
Less: non-operating expenses | 16,609,317.91 | 40,362,686.67 |
29 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
4. Total profit (total losses are denoted by | 14,504,235,380.50 | 12,041,660,524.93 |
"-") | ||
Less: income tax expenses | 1,740,605,703.44 | 1,075,704,225.03 |
5. Net profits (net losses are denoted by "-") | 12,763,629,677.06 | 10,965,956,299.90 |
(I) Classified by continuity of operations | ||
(1) Net profit from continuing | 12,763,629,677.06 | 10,965,956,299.90 |
operations (net losses are denoted by "-") | ||
(2) Net profit from discontinued | ||
operations (net losses are denoted by "-") | ||
(II) Classified by ownership | ||
(1) Net profit attributable to | 8,298,333,285.16 | 6,779,659,559.23 |
shareholders of the parent company | ||
(2) Non-controlling interests | 4,465,296,391.90 | 4,186,296,740.67 |
6. Other comprehensive income, net of tax | 280,299,934.07 | 330,013,847.46 |
Other comprehensive income, net of tax, | 216,659,734.35 | 253,070,216.02 |
attributable to shareholders of the Company | ||
(I) Other comprehensive income that | 25,792,010.00 | 21,117,268.53 |
will not be reclassified to profit or loss | ||
(1) Change arising from | -407,625.00 | -1,904,625.00 |
remeasurement of defined benefit plan | ||
(2) Other comprehensive | ||
income that cannot be transferred to | 66,639,133.53 | |
profit or loss under the equity method | ||
(3) Change in fair value of | 26,199,635.00 | -43,617,240.00 |
investment in other equity instruments | ||
(4) Change in fair value of credit | ||
risk of the Company | ||
(5) Others | ||
(II) Other comprehensive income that | 190,867,724.35 | 231,952,947.49 |
may be reclassified to profit or loss | ||
(1) Other comprehensive | ||
income that can be transferred to | 940,928.16 | |
profit or loss under the equity method | ||
(2) Change in fair value of other | ||
debt investments | ||
(3) Change in fair value of | ||
financial assets available-for-sale | ||
(4) Other comprehensive | ||
income due to reclassification of financial | ||
assets | ||
(5) Profit or loss arising from | ||
reclassification of held-to-maturity | ||
investments into available-for-sale financial | ||
assets | ||
30 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
(6) Impairment loss on other | ||
debt investments | ||
(7) Cash flow hedge | ||
(8) Translation differences | ||
arising from translation of foreign currency | 190,867,724.35 | 231,012,019.33 |
financial statements | ||
(9) Others | ||
Other comprehensive income, net of tax, | 63,640,199.72 | 76,943,631.44 |
attributable to non-controlling interests | ||
7. Total comprehensive income | 13,043,929,611.13 | 11,295,970,147.36 |
Total comprehensive income | 8,514,993,019.51 | 7,032,729,775.25 |
attributable to shareholders of the Company | ||
Total comprehensive income | 4,528,936,591.62 | 4,263,240,372.11 |
attributable to non-controlling interests | ||
8. Earnings per share: | ||
(1) Basic earnings per share | 0.1804 | 0.1492 |
(2) Diluted earnings per share | 0.1804 | 0.1492 |
If enterprises under common control are merged in current period, the net profit of merged party before merging is RMB, and the net profit of the merged party of last period is RMB.
Company's legal representative: Zhang Shanming
Person-in-charge of accounting: Yin Engang
Head of accounting department: Cheng Chao
6. STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME OF THE PARENT COMPANY FROM THE BEGINNING OF THE YEAR TO THE END OF THE REPORTING PERIOD
Unit: RMB | ||
Item | Amount for current period | Amount for prior period |
1. Operating revenue | 413,786,834.41 | 358,261,427.25 |
less: Operating costs | 358,666,662.14 | 384,373,733.22 |
Tax surcharge | 336,016.50 | 157,865.60 |
Selling expenses | 0.00 | |
Administrative expenses | 317,654,972.92 | 306,834,565.27 |
Research and development expenses | 17,525,453.90 | 6,956,456.42 |
Finance costs | 300,016,263.49 | 190,379,551.21 |
Including: Interest expenses | 436,739,539.38 | 323,088,419.58 |
Interest income | 128,553,676.14 | 96,118,273.11 |
Add: Other gains | 1,603,867.53 | |
Investment income (losses are denoted by | 3,115,989,092.98 | 6,752,366,072.34 |
"-") | ||
31 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Including: Income from investment in | 200,214,650.51 | 251,965,708.42 |
associates and joint ventures | ||
Gain on derecognition of financial | ||
assets measured at amortized cost | ||
Net Exposure hedging gains (losses are | ||
denoted by "-") | ||
Gains (losses) from changes in fair value | -375,084.33 | 2,995,243.35 |
(losses are denoted by "-") | ||
Impairment losses, net of reversal (losses | -21,235,986.30 | 2,558,653.00 |
are denoted by "-") | ||
Asset impairment gains (losses) (losses | ||
are denoted by "-") | ||
Gains (losses) from disposal of assets | ||
(losses are denoted by "-") | ||
2. Operating profit (losses are denoted by "-") | 2,556,437,460.41 | 6,223,965,785.75 |
Add: non-operating income | 10,002.08 | 10,001.10 |
Less: non-operating expenses | 44,200.60 | 2,086,816.72 |
3 Total profit (total losses are denoted by "-") | 2,556,403,261.89 | 6,221,888,970.13 |
Less: income tax expenses | 22,201,782.06 | |
4. Net profits (net losses are denoted by "-") | 2,556,403,261.89 | 6,199,687,188.07 |
(1) Net profit from continuing operations (net | 2,556,403,261.89 | 6,199,687,188.07 |
losses are denoted by " -") | ||
(2) Net profit from discontinued operations (net | ||
losses are denoted by "-") | ||
5. Other comprehensive income, net of tax | 66,639,133.53 | |
(I) Other comprehensive income that will not | ||
be reclassified | 66,639,133.53 | |
to profit or loss | ||
(1) Change arising from remeasurement | ||
of defined benefit plan | ||
(2) Other comprehensive income that | ||
cannot be transferred to profit or loss under the | 66,639,133.53 | |
equity method | ||
(3) Change in fair value of investment | ||
in other equity instruments | ||
(4) Change in fair value of credit risk of | ||
the Company | ||
(5) Others | ||
(II) Other comprehensive income that may be | ||
reclassified to profit or loss | ||
(1) Other comprehensive income that | ||
can be transferred to profit or loss under the equity | ||
method | ||
(2) Change in fair value of other debt | ||
32 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
investments | |||
(3) | Change in fair value of financial | ||
assets available-for-sale | |||
(4) Other comprehensive income due to | |||
reclassification of financial assets | |||
(5) | Profit or loss arising from | ||
reclassification of held-to-maturity investments into | |||
available-for-sale financial assets | |||
(6) | Impairment loss on other debt | ||
investments | |||
(7) | Cash flow hedge | ||
(8) Translation differences arising from | |||
translation of foreign currency financial statements | |||
(9) | Others | ||
6. Total comprehensive income | 2,556,403,261.89 | 6,266,326,321.60 | |
7. Earnings per share: | |||
(1) Basic earnings per share | |||
(2) Diluted earnings per share |
7. CONSOLIDATED STATEMENT OF CASH FLOWS FROM THE BEGINNING OF THE YEAR TO THE END OF THE REPORTING PERIOD
Unit: RMB | ||
Item | Amount for current period | Amount for prior period |
1. Cash flows from operating activities:
Cash received from sales of goods and
rendering of services
49,987,589,211.0444,287,168,388.90
Net increase in customer deposits and placements from other banks
Net increase in due to central banks
Net increase in borrowings from other financial institutions
Cash from premiums on original insurance contracts
Reinsurance business, net amount
Net increase in insured's deposits and investments
Cash received from interests, fees and commissions
Net increase in placements from banks and other financial institutions
Net decrease in financial assets
33
CGN Power Co., Ltd* 2019 Third Quarterly Report
purchased under agreements to resell | ||
Net cash received from customer | ||
brokerage | ||
Tax refunds | 2,106,333,639.42 | 1,257,404,516.67 |
Other cash received relating to | 1,856,006,690.36 | 1,455,826,294.99 |
operating activities | ||
Sub-total of cash inflow from operating | 53,949,929,540.82 | 47,000,399,200.56 |
activities | ||
Cash payment for goods purchased | 17,018,565,498.08 | 14,348,334,704.08 |
and services received | ||
Net increase in loans receivables | ||
Net increase in deposits with central | ||
bank and other banks | ||
Cash paid for claim settlements on | ||
original insurance contracts | ||
Net increase in placements to banks | ||
and other financial institutions | ||
Cash paid for interest, fees and | ||
commissions | ||
Cash paid for policy dividends | ||
Cash payment to and on behalf of | 5,238,835,391.00 | 3,987,618,396.28 |
employees | ||
Payments of various types of taxes | 5,120,025,204.12 | 4,038,397,201.50 |
Other cash payments relating to | 2,014,788,083.93 | 1,481,623,784.58 |
operating activities | ||
Sub-total cash outflow from operating | 29,392,214,177.13 | 23,855,974,086.44 |
activities | ||
Net cash flows from operating activities | 24,557,715,363.69 | 23,144,425,114.12 |
2. Cash flows from investing activities: | ||
Cash received from disposal of | 16,256,683.50 | |
investments | ||
Cash received from investments | 674,924,891.00 | 182,997,299.38 |
income | ||
Net cash received from disposal of | ||
fixed assets, intangible assets and other | 532,252.00 | 715,682.57 |
long-term assets | ||
Net cash received from disposal | 708,306,825.20 | |
subsidiaries and other business entities | ||
Other cash received relating to | 1,894,590,537.50 | 1,399,895,967.81 |
investing activities | ||
Sub-total cash inflow from investing | 3,294,611,189.20 | 1,583,608,949.76 |
activities | ||
Cash paid to purchase and construct | 10,967,724,840.46 | 11,166,423,679.32 |
34 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
fixed assets, intangible assets and other | ||
long-term assets | ||
Cash paid for investments | 6,430,117,604.97 | 357,995,925.00 |
Net increase in pledged loans | ||
Net cash paid for acquisition of | 232,680,500.00 | |
subsidiaries and other business entities | ||
Other cash paid relating to investing | 2,079,536,283.50 | 1,517,449,810.58 |
activities | ||
Sub-total of cash outflow from investing | 19,477,378,728.93 | 13,274,549,914.90 |
activities | ||
Net total cash flow from investing activities | -16,182,767,539.73 | -11,690,940,965.14 |
3. Cash flows from financing activities: | ||
Cash receipts from capital | 13,754,894,013.20 | 3,106,455,899.00 |
contributions | ||
Including: Cash receipts from capital | ||
contributions by minority shareholders of | 1,344,203,878.01 | 3,106,455,899.00 |
subsidiaries | ||
Cash received from borrowings | 42,434,542,771.23 | 33,373,794,202.93 |
Other cash received relating to | 789,004,579.36 | 421,902,000.00 |
financing activities | ||
Sub-total of cash inflow from financing | 56,978,441,363.79 | 36,902,152,101.93 |
activities | ||
Cash repayments for borrowings | 44,194,307,343.80 | 32,538,142,685.86 |
Cash payments for distribution of | ||
dividends or profit or settlement of interest | 13,863,587,646.60 | 13,115,211,126.81 |
expenses | ||
Including: Payments for distribution | ||
of dividends or profits to minority | 3,224,113,871.29 | 2,593,626,783.24 |
shareholders of the subsidiaries | ||
Other cash payments relating to | 609,423,001.48 | 368,386,075.62 |
financing activities | ||
Sub-total cash outflow from financing | 58,667,317,991.88 | 46,021,739,888.29 |
activities | ||
Net cash flow from financing activities | -1,688,876,628.09 | -9,119,587,786.36 |
4. Effects of foreign exchange rates | 93,669,167.41 | 117,241,169.51 |
changes on cash and cash equivalents | ||
5. Net increase in cash and cash equivalents | 6,779,740,363.28 | 2,451,137,532.13 |
Add: Opening balance of cash and | 11,637,718,842.72 | 10,352,460,227.68 |
cash equivalents | ||
6. Closing balance of cash and cash | 18,417,459,206.00 | 12,803,597,759.81 |
equivalents | ||
35
CGN Power Co., Ltd* 2019 Third Quarterly Report
8. STATEMENT OF CASH FLOWS OF THE PARENT COMPANY FROM THE BEGINNING OF THE YEAR TO THE END OF THE REPORTING PERIOD
Unit: RMB | ||
Item | Amount for current period | Amount for prior period |
1. Cash flows from operating activities: | ||
Cash received from sales of goods and | 452,224,955.59 | 419,990,194.10 |
rendering of services | ||
Tax refunds | ||
Other cash received relating to | 119,401,509.48 | 79,177,097.55 |
operating activities | ||
Sub-total cash inflow from operating | 571,626,465.07 | 499,167,291.65 |
activities | ||
Cash payment for goods purchased and | 279,686,079.38 | 153,683,358.26 |
services received | ||
Cash payments to and on behalf of | 298,872,980.85 | 249,824,280.16 |
employees | ||
Payments of various types of taxes | 336,016.50 | 157,865.60 |
Other cash payments relating to | 139,937,140.61 | 230,993,988.25 |
operating activities | ||
Sub-total cash outflow from operating | 718,832,217.34 | 634,659,492.27 |
activities | ||
Net cash flows from operating activities | -147,205,752.27 | -135,492,200.62 |
2. Cash flows from investing activities: | ||
Cash received from disposal of | 10,517,359,863.08 | 5,348,000,000.00 |
investments | ||
Cash received from investments income | 1,925,657,476.40 | 3,172,523,684.93 |
Net cash received from disposal of fixed | ||
assets, intangible assets and other long-term | ||
assets | ||
Net cash received from disposing | ||
subsidiaries and other business entities | ||
Other cash received relating to investing | 1,550,000,000.00 | 701,884,560.00 |
activities | ||
Sub-total cash inflow from investing | 13,993,017,339.48 | 9,222,408,244.93 |
activities | ||
Cash paid to purchase and construct | ||
fixed assets, intangible assets and other | 397,118,041.75 | 395,216,689.31 |
long-term assets | ||
Cash paid for investments | 16,633,158,997.55 | 9,310,261,726.00 |
Net cash paid for acquisition of | 232,680,500.00 | |
subsidiaries and other business entities | ||
36 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Other cash paid relating to investing | 2,063,267,800.67 | 551,407,660.09 |
activities | ||
Sub-total of cash outflow from investing | 19,093,544,839.97 | 10,489,566,575.40 |
activities | ||
Net cash flow from investing activities | -5,100,527,500.49 | -1,267,158,330.47 |
3. Cash flows from financing activities: | ||
Cash receipts from capital contributions | 12,410,690,135.19 | |
Cash received from borrowings | 5,417,861,972.35 | 10,373,960,518.02 |
Other cash received relating to | ||
financing activities | ||
Sub-total cash inflow from financing | 17,828,552,107.54 | 10,373,960,518.02 |
activities | ||
Cash repayments of borrowings | 1,960,958,508.86 | 1,941,953,617.17 |
Cash payments for distribution of | ||
dividends or profit or settlement of interest | 3,612,991,121.21 | 3,316,067,127.94 |
expenses | ||
Other cash payments relating to | 7,378,008.90 | 268,250.00 |
financing activities | ||
Sub-total of cash outflow from financing | 5,581,327,638.97 | 5,258,288,995.11 |
activities | ||
Net cash flow from financing activities | 12,247,224,468.57 | 5,115,671,522.91 |
4. Effects of foreign exchange rates changes | 31,186,599.90 | 52,975,728.20 |
on cash and cash equivalents | ||
5. Net increase in cash and cash equivalents | 7,030,677,815.71 | 3,765,996,720.02 |
Add: Opening balance of cash and cash | 8,180,127,897.47 | 7,101,335,054.79 |
equivalents | ||
6. Closing balance of cash and cash | 15,210,805,713.18 | 10,867,331,774.81 |
equivalents | ||
II. ADJUSTMENT ON THE FINANCIAL STATEMENTS
1. Adjustment to the related items of the financial statements at the beginning of the year of the first implementation due to the first implementation of the New Financial Instruments Standard or the New Revenue Standard
√ Applicable □ Non-Applicable
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
Unit: RMB | |||
Item | December 31, 2018 | January 1, 2019 | Restated |
Current assets: | |||
Cash at bank and in hand | 15,596,386,387.95 | 15,596,386,387.95 | |
Settlement reserve | |||
37 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Placements to banks and other | |||
financial institutions | |||
Financial assets held for trading | |||
Financial assets at fair value | |||
through profit or loss | |||
Derivative financial assets | 4,753,642.10 | 4,753,642.10 | |
Bills receivable | 18,433,532.76 | 18,433,532.76 | |
Accounts receivable | 6,630,947,443.89 | 6,630,947,443.89 | |
Accounts receivable financing | |||
Prepayments | 5,128,948,753.87 | 5,089,223,278.41 | -39,725,475.46 |
Premium receivable | |||
Amounts due from reinsurers | |||
Reinsurance contract reserve | |||
receivable | |||
Other receivables | 519,127,589.11 | 518,763,995.00 | -363,594.11 |
Including: Interest receivable | |||
Dividends receivable | 146,023,234.13 | 146,023,234.13 | |
Financial assets purchased under | |||
agreements to resell | |||
Inventories | 21,372,255,356.38 | 21,372,255,356.38 | |
Contract assets | 3,409,787,026.47 | 3,409,787,026.47 | |
Assets classified as held-for-sale | |||
Non-current assets due within | 3,659,033.86 | 3,659,033.86 | |
one year | |||
Other current assets | 2,703,617,527.46 | 2,703,617,527.46 | |
Total current assets | 55,387,916,293.85 | 55,347,827,224.28 | -40,089,069.57 |
Non-current assets: | |||
Loans receivables | |||
Debt investments | |||
Financial assets | |||
available-for-sale | |||
Other debt investments | |||
Held-to-maturity investments | |||
Long-term receivables | |||
Long-term equity investments | 10,203,023,176.92 | 10,203,023,176.92 | |
Other investment in equity | 422,689,500.00 | 422,689,500.00 | |
instruments | |||
Other non-current financial | 812,257.18 | 812,257.18 | |
assets | |||
Investment properties | 210,346,041.36 | 210,346,041.36 | |
Fixed assets | 210,850,206,582.15 | 210,850,206,582.15 | |
Construction in progress | 74,624,722,113.05 | 74,624,722,113.05 | |
Bearer biological assets | |||
38 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Oil and gas assets | |||
Right-of-use assets | 1,202,135,473.97 | 1,202,135,473.97 | |
Intangible assets | 4,719,796,447.25 | 4,719,796,447.25 | |
Development costs | 1,962,455,756.90 | 1,962,455,756.90 | |
Goodwill | 419,242,673.32 | 419,242,673.32 | |
Long-term deferred expenses | 1,734,658,492.05 | 1,677,042,860.65 | -57,615,631.40 |
Deferred tax assets | 1,774,868,398.17 | 1,774,868,398.17 | |
Other non-current assets | 6,244,932,628.08 | 6,244,932,628.08 | |
Total non-current assets | 313,167,754,066.43 | 314,312,273,909.00 | 1,144,519,842.57 |
Total assets | 368,555,670,360.28 | 369,660,101,133.28 | 1,104,430,773.00 |
Current liabilities: | |||
Short-term loans | 16,366,742,257.35 | 16,366,742,257.35 | |
Due to central banks | |||
Placements from banks and other | |||
financial institutions | |||
Financial liabilities held for | |||
trading | |||
Financial liabilities at fair value | |||
through profit or loss | |||
Derivative financial liabilities | 2,724,971.67 | 2,724,971.67 | |
Bills payable | 2,260,164,887.24 | 2,260,164,887.24 | |
Accounts payable | 15,986,899,682.85 | 15,986,899,682.85 | |
Receipts in advance | 2,058,361.07 | 2,058,361.07 | |
Contract liabilities | 835,799,748.43 | 835,799,748.43 | |
Financial assets sold under | |||
agreement to repurchase | |||
Customer deposits and | |||
placements from other financial | |||
institutions | |||
Customer brokerage deposits | |||
Securities underwriting | |||
brokerage deposits | |||
Employee benefits payable | 42,616,433.80 | 42,616,433.80 | |
Tax payable | 1,431,294,200.96 | 1,431,294,200.96 | |
Other payables | 3,878,479,167.43 | 3,878,479,167.43 | |
Including: Interests payable | |||
Dividends payable | 968,903,753.94 | 968,903,753.94 | |
Fee and commissions payable | |||
Amounts due to reinsurer | |||
Liabilities classified as | |||
held-for-sale | |||
Non-current liabilities due | 18,853,766,355.93 | 19,131,713,852.06 | 277,947,496.13 |
within one year | |||
39 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Other current liabilities | 964,545,364.41 | 964,545,364.41 | |
Total current liabilities | 60,625,091,431.14 | 60,903,038,927.27 | 277,947,496.13 |
Non-current liabilities: | |||
Reserve of insurance contract | |||
Long-term loans | 179,639,946,139.80 | 179,639,946,139.80 | |
Bonds payable | 8,488,044,399.25 | 8,488,044,399.25 | |
Including: Preference shares | |||
Perpetual bonds | |||
Lease liabilities | 826,483,276.87 | 826,483,276.87 | |
Long-term payables | |||
Long-term employee benefits | 102,267,273.40 | 102,267,273.40 | |
payable | |||
Provisions | 4,001,531,754.01 | 4,001,531,754.01 | |
Deferred income | 1,395,854,838.75 | 1,395,854,838.75 | |
Deferred tax liabilities | 1,177,284,416.72 | 1,177,284,416.72 | |
Other non-current liabilities | |||
Total non-current liabilities | 194,804,928,821.93 | 195,631,412,098.80 | 826,483,276.87 |
Total Liabilities | 255,430,020,253.07 | 256,534,451,026.07 | 1,104,430,773.00 |
Equity: | |||
Share capital | 45,448,750,000.00 | 45,448,750,000.00 | |
Other equity instruments | |||
Including: Preference shares | |||
Perpetual bonds | |||
Capital reserve | 3,350,519,181.82 | 3,350,519,181.82 | |
Less: Treasury stock | |||
Other comprehensive income | 699,854,140.51 | 699,854,140.51 | |
specific reserve | 197,139,693.40 | 197,139,693.40 | |
Surplus reserve | 3,341,495,665.44 | 3,341,495,665.44 | |
General provisions | |||
Retained earnings | 18,077,156,831.53 | 18,077,156,831.53 | |
Equity attributable to owners (or | 71,114,915,512.70 | 71,114,915,512.70 | |
shareholders) of the Company | |||
Non-controlling interests | 42,010,734,594.51 | 42,010,734,594.51 | |
Total equity | 113,125,650,107.21 | 113,125,650,107.21 | |
Total liabilities and equity | 368,555,670,360.28 | 369,660,101,133.28 | 1,104,430,773.00 |
Restated statement
STATEMENT OF FINANCIAL POSITION OF THE PARENT COMPANY
Unit: RMB
Item | December 31, 2018 | January 1, 2019 | Restated |
40
CGN Power Co., Ltd* 2019 Third Quarterly Report | |||||
Current assets: | |||||
Cash at bank and in hand | 9,741,247,550.24 | 9,741,247,550.24 | |||
Financial assets held for trading | |||||
Financial assets at fair value | |||||
through profit or loss | |||||
Derivative financial assets | |||||
Notes receivable | |||||
Accounts receivable | 691,807,188.60 | 691,807,188.60 | |||
Accounts receivable financing | |||||
Prepayments | 12,051,211.58 | 12,051,211.58 | |||
Other receivables | 1,234,738,858.24 | 1,234,738,858.24 | |||
Including:Interest receivable | |||||
Dividends receivable | 1,042,667,333.07 | 1,042,667,333.07 | |||
Inventories | |||||
Contract assets | |||||
Assets classified as held-for-sale | |||||
Non-current assets due within | 4,000,000,000.00 | 4,000,000,000.00 | |||
one year | |||||
Other current assets | 5,904,124,692.57 | 5,904,124,692.57 | |||
Total current assets | 21,583,969,501.23 | 21,583,969,501.23 | |||
Non-current assets: | |||||
Debt investments | 6,088,000,000.00 | 6,088,000,000.00 | |||
Financial assets | |||||
available-for-sale | |||||
Other debt investments | |||||
Held-to-maturity investments | |||||
Long-term receivables | |||||
Long-term equity investments | 78,003,718,957.43 | 78,003,718,957.43 | |||
Other equity instruments | |||||
investment | |||||
Other non-current financial | |||||
assets | |||||
Investment properties | |||||
Fixed assets | 37,287,554.98 | 37,287,554.98 | |||
Construction in progress | 60,323,650.73 | 60,323,650.73 | |||
Bearer biological assets | |||||
Oil and gas assets | |||||
Right-of-use assets | 187,382,263.97 | 187,382,263.97 | |||
Intangible assets | 240,506,543.32 | 240,506,543.32 | |||
Development costs | 773,743,861.01 | 773,743,861.01 | |||
Goodwill | |||||
41 |
CGN Power Co., Ltd* 2019 Third Quarterly Report
Long-term deferred expenses | |||
Deferred tax assets | |||
Other non-current assets | 39,060,484.23 | 39,060,484.23 | |
Total non-current assets | 85,242,641,051.70 | 85,430,023,315.67 | 187,382,263.97 |
Total assets | 106,826,610,552.93 | 107,013,992,816.90 | 187,382,263.97 |
Current liabilities: | |||
Short-term loans | 9,612,506,721.28 | 9,612,506,721.28 | |
Financial liabilities held for | |||
trading | |||
Financial liabilities at fair value | |||
through profit or loss | |||
Derivative financial liabilities | |||
Notes payable | |||
Accounts payable | 429,277,843.18 | 429,277,843.18 | |
Advanced receipts | |||
Contract liabilities | 4,384,800.02 | 4,384,800.02 | |
Employee benefits payable | 2,544,490.66 | 2,544,490.66 | |
Tax payable | 5,322,716.15 | 5,322,716.15 | |
Other payables | 41,028,621.80 | 41,028,621.80 | |
Including: Interests payable | |||
Dividends payable | |||
Liabilities classified as | |||
held-for-sale | |||
Non-current liabilities due | 165,565,753.43 | 233,271,379.89 | 67,705,626.46 |
within one year | |||
Other current liabilities | |||
Total current liabilities | 10,260,630,946.52 | 10,328,336,572.98 | 67,705,626.46 |
Non-current liabilities: | |||
Long-term borrowings | |||
Bonds payable | 8,488,044,399.25 | 8,488,044,399.25 | |
Including: Preference shares | |||
Perpetual bonds | |||
Lease liabilities | 119,676,637.51 | 119,676,637.51 | |
Long-term payables | |||
Long-term employee benefits | 8,355,898.21 | 8,355,898.21 | |
payable | |||
Provisions | |||
Deferred revenue | |||
Deferred tax liabilities | |||
Other non-current liabilities | |||
Total non-current liabilities | 8,496,400,297.46 | 8,616,076,934.97 | 119,676,637.51 |
Total Liabilities | 18,757,031,243.98 | 18,944,413,507.95 | 187,382,263.97 |
42 |
CGN Power Co., Ltd* 2019 Third Quarterly Report | |||||
Equity: | |||||
Share capital | 45,448,750,000.00 | 45,448,750,000.00 | |||
Other equity instruments | |||||
Including: Preference shares | |||||
Perpetual bonds | |||||
Capital reserve | 24,441,698,121.44 | 24,441,698,121.44 | |||
Less: Treasury stock | |||||
Other comprehensive income | |||||
Specialized reserve | |||||
Surplus reserve | 2,929,804,225.34 | 2,929,804,225.34 | |||
Retained earnings | 15,249,326,962.17 | 15,249,326,962.17 | |||
Total equity | 88,069,579,308.95 | 88,069,579,308.95 | |||
Total liabilities and equity | 106,826,610,552.93 | 107,013,992,816.90 | 187,382,263.97 | ||
Explanation for adjustments
On December 7, 2018, the Ministry of Finance issued Cai Kuai [2018] No.35 Notice (財會 [2018]35號通知) to amend the Accounting Standards for Business Enterprises No.21 - Leases (《企業會計準則第21號-租賃》) (the "New Lease Standard"), which requires companies that are listed both domestically and overseas, and companies that are listed overseas and adopt the International Financial Reporting Standards or the Accounting Standards for Business Enterprises for the preparation of financial statements to adopt the standards, with effect from January 1, 2019. Pursuant to the New Lease Standard, the Company adjusted the amount of the retained earnings and other relevant accounts at the beginning of the year based on the cumulative impact of the initial implement of the New Lease Standard without adjusting the information of the comparable period.
2. Explanation for the retrospective adjustment to previous comparable data in respect of first implementation of New Financial Instrument Standards and New Leasing Standards implemented from 2019
□ Applicable √ Non-applicable
III. Audit Report
Whether the third quarterly report has been audited □ Yes √ No
The third quarterly report of the Company is unaudited. *For identification purpose only
43
Attachments
- Original document
- Permalink
Disclaimer
CGN Power Co. Ltd. published this content on 31 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2019 08:56:04 UTC