Third Quarterly Report of 2010
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.
DATANG INTERNATIONAL POWER GENERATION CO., LTD.
(a sino-foreign joint stock limited company incorporated in the People's
Republic of China)
(Stock Code: 991)
PRICE-SENSITIVE INFORMATION/
OVERSEAS REGULATORY ANNOUNCEMENT
THIRD QUARTERLY REPORT OF 2010
In accordance with the requirements of the China 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 information contained in this quarterly report is unaudited, and
was prepared in accordance with the PRC GAAP.
This announcement is made pursuant to Rules 13.09(1) and (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 supervisory committee, the directors, the
supervisors and senior management members of the Company warrant that there
are no false representations and misleading statements contained in, or
material omissions from, this report, and severally and jointly accept the
responsibility for the truthfulness, accuracy and completeness of the
content hereof.
1.2 Any directors who failed to attend the Board meeting should be disclosed
separately.
Explanation of
Name of director Role of director director not
not attending not attending attending Name of proxy
Liu Haixia Director Business engagement Guan Tiangang
Li Gengsheng Director Business engagement Ye Yonghui
Jiang Guohua Independent director Business engagement Li Hengyuan
1.3 The third quarterly financial report of the Company is unaudited.
1.4 The financial data for the third quarter of 2009 and the first three
quarters of 2009 cited in this quarterly report for comparison have been
adjusted retrospectively as business combination under common control is
involved.
1.5 Name of the person-in-charge of the Company Liu Shunda
Name of the person-in-charge of accounting Wang Xianzhou
matters
Name of the person-in-charge of the accounting Liu Heping
institution (head of accounting function)
Mr. Liu Shunda, the person-in-charge of the Company, Mr. Wang Xianzhou, the
person-in-charge of accounting matters, and Mr. Liu Heping, the
person-in-charge of the accounting institution (head of accounting
function), hereby make representation in respect of the truthfulness and
completeness of the financial statements contained in this quarterly report.
2. BASIC INFORMATION OF THE COMPANY
2.1 Major accounting data and financial indicators
Currency: RMB
Increase/decrease at
the end of the
At the end reporting period as
of the At the end of compared to the end
reporting the previous of the
period year previous year (%)
Total assets (RMB'000) 204,150,085 182,064,307 12.13
Interests of equity
holders (or Interests
of shareholders)
(RMB'000) 29,767,870 26,073,445 14.17
Net assets per share
attributable to
shareholders of
the Company (RMB/share) 2.42 2.21 9.50
Increase/decrease as
Beginning of the year compared to the
to the end of corresponding period
the reporting period of the previous year
(Jan - Sep) (%)
Net cash flows generated
from operating activities
(RMB'000) 10,674,806 20.01
Net cash flows per share
generated from operating
activities (RMB/share) 0.8672 14.85
Increase/decrease
Beginning of of the reporting
the year to period as
The the end of compared to the
reporting the reporting corresponding
period period period of the
(Jul - Sep) (Jan - Sep) previous year (%)
Net profit attributable
to shareholders of
the Company (RMB'000) 766,718 1,596,464 109.59
Basic earnings per
share (RMB/share) 0.0623 0.1316 100.32
Basic earnings per
share excluding
non-recurring
profit/loss
(RMB/share) 0.0560 0.1237 78.34
Diluted earnings per
share (RMB/share) 0.0623 0.1316 100.32
Weighted average an increase of
return on net 1.21 percentage
assets (%) 2.60 5.57 points
Weighted average
return on net
assets excluding an increase of
non-recurring 0.93 percentage
profit/loss (%) 2.34 5.24 point
Excluding non-recurring profit/loss items and amounts:
(RMB'000)
Amount from the
beginning of the
year to the end of
the reporting
Item period (Jan-Sep) Explanation
Gains and losses from
disposal of Gain from disposal of
non-current assets 27,160 non-current assets
Government's grants
accounted for in the
profit and loss account
for the reporting
period (except for the
government's grants that
are closely related to
the Company's businesses;
and that are enjoyed in
an amount or quantity
specified by uniform Government's grants for
standards of the State) 67,366 the reporting period
Profit/loss from Profit gained from
liabilities restructuring 847 liabilities restructuring
Profit/loss from loans Profit gained from loans
entrusted to external entrusted to associates
entities 3,934 (joint ventures)
Other non-operating income Net amount of other
and expenses excluding the non-operating income
above-mentioned items 27,046 and expenses
Impact of above items on
Impact of income tax -21,419 income tax expenses
Effects of minority
shareholders' Impact of above items on
profit/loss (after tax) -9,662 minority interests
Total 95,272
2.2 Total number of shareholders as at the end of the reporting period and
table of shareholding of the top ten holders of shares free from selling
restrictions
Unit: share
Total number of shareholders at the end of the reporting
period 237,720
Shareholding of the top ten holders of circulating shares free
from selling restrictions
Number of
circulating shares
held not subject to
selling restrictions
as at the end of the
Name of shareholder (Full name) reporting period Type of share
RMB-denominated
China Datang Corporation 3,959,241,160 ordinary shares
Overseas-listed
HKSCC Nominees Limited 3,282,365,050 foreign shares
Hebei Construction Investment RMB-denominated
Company 1,281,872,927 ordinary shares
Beijing Energy Investment RMB-denominated
(Group) Company 1,278,988,672 ordinary shares
Guotai Junan - China
Construction Bank - The
Hongkong and Shanghai
Banking Corporation RMB-denominated
Limited 21,417,195 ordinary shares
National Council for Social RMB-denominated
Security Fund 18,000,000 ordinary shares
RMB-denominated
UBS AG 17,036,099 ordinary shares
Citic Securities - Industrial
and Commercial Bank of China
- Credit Suisse (Hong Kong) RMB-denominated
Limited 13,035,531 ordinary shares
RMB-denominated
Citigroup Global Markets Limited 10,079,221 ordinary shares
Industrial and Commercial Bank
of China - South Selective RMB-denominated
Stock Investment Fund 9,796,920 ordinary shares
CDC Overseas Investment Co., Ltd., China Datang Corporation's wholly-owned
subsidiary, holds 480,680,000 H shares of the Company as at 30 September 2010,
which are included in the shareholding of HKSCC Nominees Limited, representing
approximately 3.90% of the Company's total share capital. Hence China Datang
Corporation and its subsidiary hold a total of 4,439,921,160 issued shares of
the Company, representing approximately 36.07% of the Company's total issued
shares.
3. SIGNIFICANT MATTERS
3.1 The details of and the reasons for the material changes in the major
financial statement items and financial indicators of the Company
(Y) Applicable ( ) Not applicable
(1) Cash balance of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 151% over the beginning of the
reporting period. This was mainly because of the funds raised at the
non-public issue of A shares and an increase in sales income during the
reporting period. Further, the increase in cash balance was also
attributable to an increase in borrowings by the Company and its
subsidiaries.
(2) Notes receivable of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 49% over the beginning of the
reporting period. This was mainly because of the increase in volume of
notes receivable used by customers for settlement.
(3) Prepayments of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 37% over the beginning of the
reporting period. This was mainly because of an increase in prepayments for
fuel coal made by the Company's coal-fire power plants and Beijing Datang
Fuel Co., Ltd.
(4) Other receivables of the Company and its subsidiaries as at the end of the
reporting period decreased by approximately 38% over the beginning of the
reporting period. This was mainly because the Company recovered the
prepayments for the acquisition of Yuneng (Group) Company Limited during
the reporting period.
(5) Inventories of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 103% over the beginning of the
reporting period. This was mainly because of an increase in inventories at
Yuneng (Group) Company Limited and Inner Mongolia Baoli Coal Co., Ltd.,
which are consolidated under non-common control. Moreover, the increase in
coal inventories of the Company and its subsidiaries also led to the
increase in inventories.
(6) Available-for-sale financial assets of the Company and its subsidiaries as
at the end of the reporting period increased by approximately 500% over the
beginning of the reporting period. This was mainly because of the holding
of the shares of Southwest Securities by a subsidiary of Yuneng (Group)
Company Limited, which is consolidated under non-common control, during the
reporting period, leading to an increase in available-for-sale financial
assets.
(7) Investment properties of the Company and its subsidiaries as at the end of
the reporting period increased by approximately 100% over the beginning of
the reporting period. This was mainly because of the commencement of
operation of the hotel offices of Inner Mongolia Datang International
Tuoketuo Power Generation Company Limited, a subsidiary of the Company.
(8) Long-term deferred expenses of the Company and its subsidiaries as at the
end of the reporting period increased by approximately 356% over the
beginning of the reporting period. This was mainly because of the land
requisition compensation paid during the reporting period by Inner Mongolia
Baoli Coal Co., Ltd. which is consolidated under non-common control.
(9) Notes payable of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 95% over the beginning of the
reporting period. This was mainly because of the increase in procurements
of the Company and its subsidiaries as well as the increase in volume of
notes payable used for settlement.
(10) Accounts payable of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 33% over the beginning of the
reporting period. This was mainly because of an increase in provisionally
assessed project fees resulting from construction-in-progress being
converted to fixed assets of the Company's subsidiaries, Jiangsu Datang
International Lvsigang Power Generation Company Limited and Guangdong
Datang International Chaozhou Power Generation Company Limited. Moreover,
as the new generating units of the Company and its subsidiaries commenced
operation, the purchases of coal increased, resulting in an increase in
fuel charge payable.
(11) Advances received by the Company and its subsidiaries as at the end of the
reporting period increased by approximately 295% over the beginning of the
reporting period. This was mainly because of an increase in property
prepayments received by Yuneng (Group) Company Limited, which is
consolidated under non-common control, during the reporting period.
(12) Other payables of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 127% over the beginning of the
reporting period. This was mainly because the consolidation under
non-common control of Yuneng (Group) Company Limited and Inner Mongolia
Baoli Coal Co., Ltd., led to an increase in balance of other payables
during the reporting period.
(13) Non-current liabilities due within one year of the Company and its
subsidiaries as at the end of the reporting period increased by
approximately 45% over the beginning of the reporting period. This was
mainly because of an increase in long-term borrowings due within one year.
(14) Deferred income tax liabilities of the Company and its subsidiaries as at
the end of the reporting period increased by approximately 32% over the
beginning of the reporting period. This was mainly because the
consolidation under non-common control of Yuneng (Group) Company Limited
and Inner Mongolia Baoli Coal Co., Ltd., led to an increase in balance of
deferred income tax liabilities during the reporting period.
(15) Capital reserve of the Company and its subsidiaries as at the end of the
reporting period increased by approximately 153% over the beginning of the
reporting period. This was mainly because of the capital premium of the
Company's non-public issue of shares during the reporting period.
(16) Undistributed profits of the Company and its subsidiaries as at the end of
the reporting period increased by approximately 54% over the beginning of
the reporting period. This was mainly because of a significant increase in
net profit attributable to shareholders for the first three quarters of
2010.
(17) Selling expenses of the Company and its subsidiaries for the nine months
ended 30 September 2010 increased by approximately 128% over the
corresponding period of the previous year. This was mainly because such
expenses of Yuneng (Group) Company Limited and Inner Mongolia Baoli Coal
Co., Ltd., which are consolidated under non-common control, for the
corresponding period of the previous year had not been consolidated in the
Company's financial statements; and that the commencement of production of
some of the subsidiaries also led to an increase in selling expenses.
(18) Investment income of the Company and its subsidiaries for the nine months
ended 30 September 2010 increased by approximately 44% over the
corresponding period of the previous year. This was mainly because the
invested units recorded growth in performance, resulting in an increase in
investment income as recognised in accordance with the equity method.
(19) Non-operating income of the Company and its subsidiaries for the nine
months ended 30 September 2010 increased by approximately 60% over the
corresponding period of the previous year. This was mainly because of an
increase in government grants received by Datang Energy Chemical Company
Limited and Qian'an Datang Thermal Power Company Limited during the
reporting period.
(20) Non-operating expenses of the Company and its subsidiaries for the nine
months ended 30 September 2010 decreased by approximately 63% over the
corresponding period of the previous year. This was mainly because some of
the subsidiaries paid for late charges in the corresponding period of the
previous year but no such charge has been paid during the reporting period.
(21) Net cash flows generated from investing activities of the Company and its
subsidiaries for the nine months ended 30 September 2010 increased by
approximately 43% over the corresponding period of the previous year. This
was mainly because of a decrease in fixed asset investment.
(22) Net cash flows generated from financing activities of the Company and its
subsidiaries for the nine months ended 30 September 2010 decreased by
approximately 73% over the corresponding period of the previous year. This
was mainly because of a decrease in net growth of borrowings.
(23) Net profit attributable to equity holders of the Company and its
subsidiaries for the three months from July to September 2010 increased by
approximately 110% over the corresponding period of the previous year. This
was mainly because of an increase in power generation, a growth in sales
income resulting from the commencement of operation of new generating units
and a change in accounting estimates of fixed assets, etc.
3.2 The analysis and explanation of progress and impact of major events and
solutions
( ) Applicable (Y) Not applicable
3.3 The performance of the undertakings made by the Company, shareholders and
the de facto controller
( ) Applicable (Y) Not applicable
3.4 The 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 over the corresponding period
of the previous year
( ) Applicable (Y) Not applicable
3.5 Status of the implementation of the cash dividend policy during the
reporting period
The Company has stipulated the cash dividend policy in its articles of
association and has completed the profit distribution for 2009 in July 2010.
By Order of the Board
Zhou Gang
Secretary to the Board
Beijing, the PRC, 22 October 2010
As at the date of this announcement, the directors of the Company are:
Liu Shunda, Hu Shengmu, Cao Jingshan, Fang Qinghai, Zhou Gang, Liu Haixia, Guan
Tiangang, Su Tiegang, Ye Yonghui, Li Gengsheng, Li Yanmeng*, Zhao Zunlian*, Li
Hengyuan*, Zhao Jie*, Jiang Guohua*
* Independent non-executive Directors
4. APPENDIX
4.1 Consolidated balance sheet and balance sheet of the Company as at 30
September 2010 (unaudited)
(Amounts expressed in thousands of Renminbi unless otherwise stated)
30 September 31 December 30 September 31 December
2010 2009 2010 2009
Assets Consolidated Consolidated The Company The Company
Current assets
Cash balance 3,787,045 1,506,435 1,239,941 291,589
Notes receivable 209,445 140,273 -- --
Accounts
receivable 7,330,920 6,494,644 848,520 1,184,183
Prepayments 2,921,439 2,128,077 300,990 762,088
Interest
receivable 9,878 -- -- --
Dividends
receivable -- -- -- 98,766
Other receivables 1,582,735 2,563,775 2,512,754 7,210,535
Inventories 3,759,891 1,855,177 277,767 194,318
Other current
assets -- 237 -- --
Total current assets 19,601,353 14,688,618 5,179,972 9,741,479
Non-current assets
Available-for-sale
financial assets 112,110 18,700 -- --
Long-term
receivables 132,985 198,717 6,399,819 3,894,922
Long-term equity
investments 8,591,339 6,647,048 28,768,496 22,874,037
Investment
properties 181,169 -- -- --
Fixed assets 113,444,209 96,616,097 7,083,010 7,556,170
Construction
-in-progress 47,509,486 49,964,067 2,188,146 1,776,434
Construction
materials 8,815,455 9,471,447 218,200 218,200
Disposal of fixed
assets -8 -- -155 --
Intangible assets 3,869,271 3,112,600 537,107 545,227
Goodwill 686,541 533,745 33,995 33,561
Long-term deferred
expenses 358,869 78,673 14,182 18,661
Deferred income tax
assets 828,794 716,083 41,556 41,556
Other non-current
assets 18,512 18,512 -- --
Total non-current
assets 184,548,732 167,375,689 45,284,356 36,958,768
Total assets 204,150,085 182,064,307 50,464,328 46,700,247
Liabilities and 30 September 31 December 30 September 31 December
shareholders' 2010 2009 2010 2009
equity Consolidated Consolidated The Company The Company
Current
liabilities
Short-term loans 19,342,935 19,569,023 -- 550,000
Notes payable 1,361,189 697,703 -- --
Accounts payable 16,087,205 12,076,588 896,589 1,248,306
Advances from
customers 577,294 146,277 -- --
Salary payable 53,631 32,825 3,357 6,010
Taxes payable -1,183,931 -1,610,251 -3,955 58,848
Interest payable 282,822 356,389 114,944 178,045
Dividends payable -- 36,909 -- --
Other payables 1,658,085 730,238 222,124 220,897
Non-current
liabilities due
within one year 10,708,351 7,367,012 263,400 963,400
Other current
liabilities 23,980 -- -- --
Total current
liabilities 48,911,561 39,402,713 1,496,459 3,225,506
Non-current
liabilities
Long-term loans 107,793,715 99,506,545 11,762,400 10,409,600
Debentures payable 5,946,347 5,938,544 5,946,347 5,938,544
Long-term payables 3,582,304 3,701,165 18,000 27,000
Specific payables 37,500 -- -- --
Provisions 41,554 36,008 -- --
Deferred income
tax liabilities 377,319 286,600 -- --
Other non-current
liabilities 469,432 475,788 347,468 357,299
Total non-current
liabilities 118,248,171 109,944,650 18,074,215 16,732,443
Total liabilities 167,159,732 149,347,363 19,570,674 19,957,949
Shareholders' equity
Share capital 12,310,038 11,780,038 12,310,038 11,780,038
Capital surplus 4,012,938 1,584,008 4,340,053 1,629,426
Specific reserve 377,726 383,588 333,480 304,634
Surplus reserve 10,945,628 10,945,628 10,983,062 10,983,062
Undistributed
profits 2,097,252 1,362,492 2,927,021 2,045,138
Foreign currency
translation
differences 24,288 17,691 -- --
Total shareholders'
equity attributable
to the equity
holders of the
Company 29,767,870 26,073,445 30,893,654 26,742,298
Minority interests 7,222,483 6,643,499 -- --
Total shareholders'
equity 36,990,353 32,716,944 30,893,654 26,742,298
Total liabilities
and shareholders'
equity 204,150,085 182,064,307 50,464,328 46,700,247
4.2 Consolidated profit and loss account for the nine months ended 30 September
2010 (unaudited)
(Amounts expressed in thousands of Renminbi unless otherwise stated)
Amounts Amounts for
for the the period
period from from the
the beginning beginning of
of the the previous
Amounts for the year to the year to the
corresponding end of the end of the
Amounts period of the reporting reporting
for the period previous year period period
Item (Jul - Sep) (Jul - Sep) (Jan - Sep) (Jan - Sep)
1. Operating revenue 15,002,503 15,037,514 43,948,509 35,763,950
Less: Operating
cost 11,859,008 12,614,431 35,967,838 29,569,736
Business tax
and surcharges 98,824 105,373 248,732 291,878
Selling expenses 96,150 71,813 303,705 133,400
General and
administrative
expenses 389,712 343,871 1,084,604 909,091
Financial
expenses, net 1,370,729 1,054,644 3,909,678 3,065,987
Impairment loss
of assets -5,009 -- -6,152 --
Add: Fair value
loss -- -- -- --
Investment
income 134,741 57,937 451,504 312,554
Including:
Investment
income from
associates and
jointly
controlled
entities 111,478 49,788 405,953 157,793
2. Operating profit 1,327,830 905,319 2,891,608 2,106,412
Add: Non-operating
income 59,221 26,851 154,421 96,716
Less: Non-operating
expenses 6,828 21,886 10,004 26,940
3. Total profit 1,380,223 910,284 3,036,025 2,176,188
Less: Income tax
expense 217,728 225,977 523,116 444,229
4. Net profit 1,162,495 684,307 2,512,909 1,731,959
Including: Net loss
from acquiree
before business
consolidation under
common control -- -8,419 -- -16,972
Net profit
attributable to
equity holders of
the Company 766,718 365,816 1,596,464 1,009,634
Minority interests 395,777 318,491 916,445 722,325
5. Earnings per share
Basic earnings per
share (RMB/share) 0.0623 0.0311 0.1316 0.0857
Diluted earnings per
share (RMB/share) 0.0623 0.0311 0.1316 0.0857
6. Other comprehensive
income 5,293 -25,453 -12,103 24,507
7. Total comprehensive
income 1,167,788 658,854 2,500,806 1,756,466
Total comprehensive
income
attributable
to equity holders
of the Company 772,011 340,363 1,586,552 1,034,141
Total comprehensive
income
attributable to
minority
shareholders 395,777 318,491 914,254 722,325
Profit and loss account of the Company for the nine months ended 30 September
2010 (unaudited)
(Amounts expressed in thousands of Renminbi unless otherwise stated)
Amounts Amounts for
for the the period
period from from the
the beginning beginning of
of the the previous
Amounts for the year to the year to the
corresponding end of the end of the
Amounts period of the reporting reporting
for the period previous year period period
Item (Jul - Sep) (Jul - Sep) (Jan - Sep) (Jan - Sep)
1. Operating revenue 2,021,666 2,373,789 6,370,952 6,320,539
Less: Operating
cost 1,814,588 2,064,020 5,767,319 5,493,954
Business tax
and surcharges 17,357 30,629 31,639 79,302
Selling expenses -- -- -- --
General and
administrative
expenses 107,543 56,787 313,433 295,059
Financial
expenses, net 178,694 82,270 458,219 205,032
Impairment loss
of assets -- -- -- --
Add: Fair value
loss -- -- -- --
Investment
income 358,564 429,850 1,933,072 1,284,343
Including:
Investment
income from
associates
and jointly
controlled
entities 111,478 49,788 405,953 161,682
2. Operating profit 262,048 569,933 1,733,414 1,531,535
Add: Non-operating
income 9,115 15,648 45,842 52,570
Less: Non-operating
expenses 3,642 1,769 4,662 2,528
3. Total profit 267,521 583,812 1,774,594 1,581,577
Less: Income tax
expense 10,434 51,734 31,001 133,323
4. Net profit 257,087 532,078 1,743,593 1,448,254
Net profit
attributable
to equity holders
of the Company 257,087 532,078 1,743,593 1,448,254
Minority interests -- -- -- --
5. Earnings per share
Basic earnings per
share (RMB/share) -- -- -- --
Diluted earnings per
share (RMB/share) -- -- -- --
6. Other comprehensive
income -- -25,737 -7,745 24,373
7. Total comprehensive
income 257,087 506,341 1,735,848 1,472,627
Total comprehensive
income attributable
to equity holders
of the Company 257,087 506,341 1,735,848 1,472,627
Total comprehensive
income attributable
to minority
shareholders -- -- -- --
4.3 Consolidated cash flow statement and cash flow statement of the Company for
the nine months ended 30 September 2010 (unaudited)
(Amounts expressed in thousands of Renminbi unless otherwise stated)
For the nine months ended 30 September
2010 2009 2010 2009
Item Consolidated Consolidated The Company The Company
1. Cash flows generated
from operating
activities
Cash received from
sales of goods and
services rendered 47,337,318 35,058,526 7,750,339 7,266,075
Refund of taxes and
levies 7,506 60,358 -- --
Other cash received
relating to
operating
activities 149,786 12,139 228,687 22,133
Sub-total of cash
inflows 47,494,610 35,131,023 7,979,026 7,288,208
Cash paid for
goods and
services received 31,251,083 20,194,558 5,180,640 4,802,185
Cash paid to and
on behalf of
employees 1,354,900 1,208,119 608,277 630,671
Payments of all
types of taxes 3,193,541 4,073,043 409,523 1,161,335
Other cash paid
relating to
operating
activities 1,020,280 760,070 398,739 310,631
Sub-total of cash
outflows 36,819,804 26,235,790 6,597,179 6,904,822
Net cash flows
generated from
operating activities 10,674,806 8,895,233 1,381,847 383,386
2. Cash flows generated
from investing
activities
Cash received on
disposals of
investments 1,268,553 198,875 1,845,530 4,549,871
Cash received on
investment
income 329,248 5,307 1,734,308 990,190
Net cash received
from disposals of
fixed assets,
intangible assets
and other
long-term assets 133,107 562,070 -- --
Net cash received on
disposals
of subsidiaries and
other operating
units -- 122,793 -- 300,000
Other cash received
relating to
investing activities 3,089,078 391,218 5,726,639 10,872,346
Sub-total of cash
inflows 4,819,986 1,280,263 9,306,477 16,712,407
Cash paid to acquire
fixed assets,
intangible assets
and other
long-term assets 13,757,418 19,469,099 548,181 4,065,970
Cash paid to
acquire investments 2,740,174 2,204,936 10,961,366 9,781,060
Other cash paid
relating to
investing
activities 175,172 235,611 282,129 226,118
Sub-total of cash
outflows 16,672,764 21,909,646 11,791,676 14,073,148
Net cash flows
generated used in
investing
activities -11,852,778 -20,629,383 -2,485,199 2,639,259
3. Cash flows generated
from financing
activities
Cash received from
investments 3,967,364 1,880,786 3,341,763 --
Including:
Cash received
from minority
shareholders'
equity investments
in subsidiaries 633,257 1,880,786 -- --
Cash received from
borrowings 58,989,239 75,933,811 6,300,000 22,716,000
Cash received from
finance leases -- -- -- --
Other cash received
relating
to financing
activities 37,630 113,841 403,626 35,982
Sub-total of cash
inflows 62,994,233 77,928,438 10,045,389 22,751,982
Cash paid on
repayments
of borrowings 51,416,526 58,800,699 6,497,200 21,597,160
Cash paid for
dividends, profit
appropriation or
interest expenses 7,075,619 6,124,064 1,333,461 2,251,274
Including:
Dividends paid
to minority
shareholders
of subsidiaries 287,206 194,290 -- --
Other cash paid
relating to
financing
activities 1,040,612 347,767 159,843 37,358
Including: cash
paid to minority
shareholders by
subsidiaries as a
result of
reduction in
investments -- -- -- --
Sub-total of cash
outflows 59,532,757 65,272,530 7,990,504 23,885,792
Net cash flows
generated
from/(used in)
financing
activities 3,461,476 12,655,908 2,054,885 -1,133,810
4. Effect of foreign
exchange rate
changes on cash
and cash
equivalents -2,894 1,422 -3,181 -677
5. Net increase in cash
and cash equivalents 2,280,610 923,180 948,352 1,888,158
Add: cash and cash
equivalents
at the beginning
of the reporting
period 1,506,435 5,255,240 291,589 2,053,885
6. Cash and cash
equivalents at the
end of the reporting
period 3,787,045 6,178,420 1,239,941 3,942,043
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