Interim Results

Beijing Datang Power Generation Com
31 August 2000


Beijing Datang Power Generation Company Limited
(a joint-stock limited company incorporated in the People's Republic of China)

2000 Interim Results Announcement

Financial Highlights
*  Net operating revenue for the six months ended 30th June, 2000 was
   approximately RMB2,618,382,000, representing an increase of 1.4%
   compared to the same period last year.
*  Profit after taxation was approximately RMB650,718,000,
   representing an increase of 0.8% compared to the same period last
   year.
*  Basic earnings per share were RMB0.126 representing an increase by
   RMB0.001 compared to the same period last year.
*  During the Period, the Company had sufficient cash reserves and did
   not have foreign currency debt.

I. Interim Results
The Board of Directors of Beijing Datang Power Generation Company
Limited (the 'Company') hereby announces the unaudited interim results
of the Company and its subsidiaries for the six months ended 30th
June, 2000 (the 'Period'), prepared in conformity with International
Accounting Standards.
The Company's net operating revenue for the Period was approximately
RMB2,618,382,000, representing an increase of 1.4% as compared to the
same period last year. Profit after taxation was approximately
RMB650,718,000, representing an increase of 0.8% as compared to the
same period last year. Basic earnings per share was RMB0.126,
representing an increase of RMB0.001 as compared to the same period
last year.


Consolidated Profit and Loss Account (Condensed)
(Unaudited)

(All amounts expressed in thousands of Renminbi ('RMB'), except per
share data)

                                         Six months ended 30th June,
                            Note                 2000             1999
Operating revenue, net        3             2,618,382        2,582,123
Operating costs                           (1,652,406)      (1,641,216)
                                                                      
Operating profit                              965,976          940,907
Financial income, net         4                 9,483           23,921
                                                                      
Profit before taxation                        975,459          964,828
Taxation                      5             (324,741)        (319,063)
                                                                      
Profit after taxation                         650,718          645,765
                                                                      
Basic earnings per share      6                 0.126            0.125
(RMB)
                                                                      
                                                                      
Consolidated Balance Sheet (Condensed)
(Unaudited)                                                           

(Amounts expressed in thousands of RMB)
                                                                      
                                                                  31st
                            Note           30th June,        December,
                                                 2000             1999
Property, plant and                        12,431,319       11,689,300
equipment, net
                                                                      
Long-term investments         8               146,020           46,020
                                                                      
Current assets                              4,858,594        4,472,707
Current liabilities                       (1,692,042)      (1,705,655)
                                                                      
Net current assets                          3,166,552        2,767,052
                                                                      
Long-term bank loans (net                 (3,150,599)      (2,590,288)
of current portion)
                                                                      
Long-term loans from shareholders (net                                
of current portion)                          (91,768)        (117,098)
                                                                      
Minority interests                          (295,530)        (239,710)
                                                                      
Net assets                                 12,205,994       11,555,276
                                                                      
Representing:                                                         
Share capital                               5,162,849        5,162,849
Reserves                                    7,043,145        6,392,427
                                                                      
Shareholders' equity                       12,205,994       11,555,276
                                                                      
                                                                      

Consolidated Statement of Cash Flows (Condensed)                      
(Unaudited)                                                           

(Amounts expressed in thousands of RMB)                               
                                                                      
                                            Six months ended 30th June,
                                                 2000             1999
                                                                      
Net cash from operating activities            751,852        1,113,700
Net cash used in investing                (1,287,742)        (296,796)
activities
Net cash from (used in) financing             672,761        (403,691)
activities
                                                                      
Net increase in cash and cash                 136,871          413,213
equivalents
Cash and cash equivalents,                  1,384,049          669,696
beginning of Period
                                                                      
Cash and cash equivalents, end of           1,520,920        1,082,909
Period
                                                                      
                                                                      

Consolidated Statement of Changes in Equity (Condensed)                    
(Unaudited)                                                                   

(Amounts expressed in thousands of RMB)                                       

                                         Six months ended 30th June,
                                                  2000                
                         Capital   Statutory  Discretion  Retained    
                         reserve   reserves   surplus     earnings     Total
                                              reserve
                                                                              
Balance, beginning of  3,653,421     768,756   1,970,250       --- 6,392,647   
      
Profit after taxation       ---       ---           ---    650,718   650,718   
                                                                              
Balance, end of        3,653,421     768,756   1,970,250   650,718 7,043,145   
                                                                              

Notes:

1. Company Organization
The Company was incorporated in Beijing, the People's Republic of
China (the 'PRC'), on 13th December, 1994 as a joint stock limited
company.  Subsequent to the listing of its H shares on The Stock
Exchange of Hong Kong Limited and the London Stock Exchange on 21st
March, 1997, the Company was registered as a Sino-foreign joint
venture on 13th May, 1998.  The Company currently owns and operates
four power plants in Hebei Province and Beijing City of the PRC. The
Company's subsidiaries are Tianjin Datang Panshan Power Generation
Company Limited (75%-owned), Inner Mongolia Datang Tuoketuo Power
Generation Company Limited (60%-owned) and Hebei Huaze Hydropower
Development Company Limited (90.43%-owned).
The Company's power plants are principally engaged in the generation
and sale of electric power to North China Power Group Company
('NCPGC').

2. Principal Accounting Policies
The accompanying interim financial statements are prepared in
accordance with International Accounting Standards issued by the
International Accounting Standards Committee.  The principal
accounting policies adopted for the 2000 figures are consistent with
those adopted for the preparation of the 1999 financial statements.

3. Revenue
Operating revenue represents amount of tariffs billed for electricity
generated and transmitted to NCPGC.  Tariff revenues are recognized
upon billing and transmission of electricity to the power grid
controlled and owned by NCPGC.

4. Financial income, net

                                    Six months ended 30th June,
                                      2000                 1999
                                   RMB'000              RMB'000
                                                               
Interest income                     81,161               73,995
Interest expenses                 (71,479)             (50,070)
Exchange loss                        (199)                  (4)
                                                               
Financial income, net                9,483               23,921

5. Taxation
The PRC income tax for the six months ended 30th June, 2000 was
calculated at the rate of 33% on the estimated assessable profit of
the Period determined in accordance with the PRC income tax rules and
regulations.

6. Earnings Per Share
The calculation of basic earnings per share for the six months ended
30th June, 2000 was based on the profit after taxation of
approximately RMB650,718,000 and on the weighted average number of
5,162,849,000 shares which is calculated on the basis of 3,732,180,000
Domestic Shares and 1,430,669,000 H Shares.
As there was no dilutive potential ordinary shares outstanding as at
30th June, 2000, no diluted earnings per share was presented.

7. Profit Appropriation
No profit appropriation has been made for the six months ended 30th
June, 2000.  Such appropriation will be made at year end in accordance
with the prevailing regulations.

8. Long Term Investments
Long term investments represent a 16% equity investment in NCPG
Finance Company Limited and investment in the government bonds.  All
long term investments are stated at cost.

9. Subsequent Event
On 10th August, 2000, the Company and China Huaneng Group Corporation
('Huaneng') entered into an agreement and a supplemental agreement,
under which the Company agreed to  acquire the net assets of Unit 2 of
Zhang Jia Kou Power Plant Phase 1 (the 'Acquisition'). The cash
consideration for the Acquisition is RMB530 million.
The Acquisition is expected to be effective on 1st October, 2000 upon
approvals i) by relevant supervisory and government authorities
including State Power Corporation and Ministry of Finance; ii) on the
valuation result performed by an independent PRC valuer; and iii) by
relevant approval authorities of Huaneng and independent shareholders
of the Company in the extraordinary general meeting to be held on 29th
September, 2000.

(I)Review of Operations
During the Period, the Company benefited from a significant growth in
electricity demand driven by China's domestic economic growth
resulting in the increases in the gross generation, operating revenue
and basic earnings per share compared with the same period last year.
However, the Company also faced increased difficulties in its
operations. Beginning from 2000, the guaranteed minimum utilization
hours under the 'Power Purchase Agreement' between the Company and
NCPGC has been replaced by the grid average utilization hours of coal-
fired power generation facilities. In addition, as the increase of
weighted average capacity of newly commissioned generation units is
higher than the growth of power demand, the average grid generation
facilities utilizations hours are reduced.  As a result, the growth of
the Company's electricity generation was also affected. Nevertheless,
through strengthened management and the adoption of various effective
measures, the Company was able to achieve satisfactory results in a
difficult business environment:

Expansion initiatives to enhance competitiveness
During the period, the Company pursued a proactive, expansionary
strategy that was focused on scale and diversification on the back of
its financial, professional and technological strengths, fully
capitalizing on opportunities that had arisen from adjustments in the
structure and overall setting of the power market:

(1)To establish North China Electric Power Research Institute Company
Limited jointly with NCPGC and Beijing Guohua Electric Power Company
Limited to enhance the technological aspect of the Company.
(establishment is in process).

(2)Acquired 90.43% equity interest in Hebei Huaze Hydropower
Development Company Limited, through which the Company will develop
and construct a hydropower unit with a total capacity of 20MW. The
project has been progressing smoothly and the first unit is expected
to be put into operation in the first half of 2001.

(3)Smooth progress of the Company's construction projects
*  Construction and installation works in relation to Unit 7 (300MW)
of Zhang Jia Kou Power Plant Phase II have been basically completed.
The unit is expected to be put into commercial operation by the end of
2000. The Company's total installed capacity will be increased to
4,650MW (including the to-be-acquired Unit 2 of Zhang Jia Kou Power
Plant Phase I) by then. Construction and installation works of Unit 8
are currently underway. The unit is expected to be put into commercial
operation by the second half of 2001, in order to meet the continued
growth in electricity demand in the Beijing-Tianjin-Tangshan area.
*  The construction work of Panshan Power Plant Phase II (2 6 600 MW
unit), started in June 1999, has been progressing smoothly.
Construction and installation works for the first unit are being
carried out as scheduled, and it is expected to be put into commercial
operation in 2001.
*  Preparation for the construction of Tuoketuo Power Plant Phase I (2
6 600 MW unit) is being actively carried out.
Strengthened internal management to realize Company's targets
During the Period, the Company continued to enhance the management of
its existing plants and construction projects. With the adoption of a
system whereby financial targets are being assigned to individual
employees at every level, the enhancement of operational safety
standards and the running of articulately organized overhaul programs
for operating units as well as the improvement of operational quality,
solid foundations have been laid for the realization of production
targets designated for the first half year. Total electricity
generated during the Period was 10,179,264Mwh, completing 50.98% of
the full-year target and representing an increase of 0.46% compared to
the same period last year. The equivalent availability factor of the
Company's generating units was 92.84%, representing an increase of
0.56 percentage point as compared to the same period last year.
Unplanned stoppages reduced by 2 times as compared to the same period
last year.
The Company continued to exercise energy-saving measures during the
Period and efforts were made to reduce production costs. Through
adjustments in the types of fuel used, the unit cost of standard coal
was reduced. Expenses were effectively controlled through enhanced
financial budgetary management. The unit cost of standard coal
decreased by RMB23.46 per ton, as compared to the same period last
year. Unit fuel cost decreased by approximately 9.96%. as compared to
the same period last year. The coal consumption rate for electricity
generation was approximately 365g/Mwh, marking a further decrease by
2g/Mwh, as compared to the same period last year, a continuous fall
over the past three years.
Controls were strengthened over the project costs of wholly-owned
Zhang Jia Kou Power Plant Phase II as well as Panshan Power Plant
Phase II and the Tuoketuo Power Plant Phase I, both controlled by the
Company. Project costs were reduced as compared to budget through the
improvements in the tender system which provide a good base for the
Company's competitiveness in future.

(II)  Business Outlook
The growth in China's domestic economy and electricity demand will be
driven by a number of positive factors, including China's imminent WTO
accession, the government's strategy of the large-scale development of
West China, and the continuation of proactive fiscal policies to
stimulate domestic consumption. In 2000, electricity demand in the
Beijing-Tianjin-Tangshan area has shown remarkable growth while, at
present, only the Company has power generating units under
construction in the Beijing-Tianjin-Tangshan power grid. The
completion of these units is expected to enlarge the market share of
the Company and to improve the Company's economies of scale. The
Company will continue to expand its international and domestic
businesses by using its strengths.
For the rest of the year, the Company will continue to make efforts in
relation to long-term development with particular emphasis on the
following:

1. Active use of capital and faster pace in mergers and acquisitions
to expand its production scale, in order to enhance profitability in
the larger context of China's WTO accession, economic growth and large-
scale developments of the West.

2. Active pursuance of investments in environmentally friendly
projects to implement the Company's strategy of sustainable
development.

3. Continued focus on production safety to maintain the safe and
stable operation of existing plants.

4. Focus on management of construction projects to ensure the quality
of installation work and the smooth commencement of operation of Unit
7 of Zhang Jia Kou Power Plant within this year.

5. Enhancement on management and utilization of internal resources to
maximize economic benefits.

II.Share Capital and Dividends

(1)Share Capital
The Company had not issued any new shares during the Period. As at
30th June 2000, the total share capital of the Company was
RMB5,162,849,000, divided into 5,162,849,000 shares of RMB1.00 each.

(2)Substantial Shareholders
During the Period, substantial shareholders holding more than 10% of
the Company's shares were as follows:

   Name of shareholder      Domestic/Fore   Number of    Percentage of
                             ign shares       shares        shares
                                                          capital (%)
North China Power Group     Domestic      1,828,768,200      35.43
Company                     Shares                
Beijing International       Domestic        671,792,400      13.01
Power Development and       Shares
Investment Company
Hebei Construction          Domestic        671,792,400      13.01
Investment Company          Shares
Tianjin Jinneng Investment  Domestic        559,827,000      10.84
Company                     Shares

(3)Dividends
Pursuant to a resolution at the Board of Directors' meeting on 6th
March, 2000 and as approved at the Annual Shareholders' Meeting on
28th April, 2000, the Company's dividends for 1999 of RMB0.06 per
share would be distributed to the shareholders whose names appeared on
the shareholders register of the Company as at 27th March, 2000. Such
dividends were distributed before 30th June, 2000, for which those for
domestic shares were declared and paid in RMB while those for H Shares
were declared in RMB but paid in Hong Kong dollars.
The Board of Directors does not recommend any interim dividends for
2000.

III.  Use of Proceeds
The shares of the Company were listed on The Stock Exchange of Hong
Kong Limited and the London Stock Exchange on 21st March, 1997. The
net proceeds raised were approximately RMB3,702 million. As at 30th
June, 2000, RMB3,268 million has been utilized as follows:
*  RMB1,383 million for acquisition of Unit 1 of Zhang Jia Kou Power
Plant;
*  RMB1,103 million for investment in Phase 2 of Zhang Jia Kou Power
Plant;
*  RMB586 million for investment in Tianjin Datang Panshan Power
Generation Company Limited; and
*  RMB196 million for investment in Inner Mongolia Datang Tuoketuo
Power Generation Company Limited.
The balance is currently deposited with commercial banks in foreign
currencies and will be used in equity investments in other power
projects which are in line with the Company's development strategies.
There was no trust deposit or overdue fixed deposit for the Period.

IV.Housing Scheme
In accordance with the 'Proposal on Further Reform of Housing Policy
in Urban Areas' of the State and the implementation schemes for staff
quarters issued by the relevant provincial and municipal governments,
the Company and its subsidiaries have finalised a scheme for selling
staff quarters to its staff in 1999. Under the scheme, the Company and
its subsidiaries will provide subsidies, which represent the
difference between the net book value of the staff quarters to be sold
and the proceeds to be collected from the employees, to eligible staff
for them to buy staff quarters from the Company and its subsidiaries
at preferential prices calculated based on their length of service and
position in the company pursuant to the prevailing local regulations.
The estimated subsidies of approximately RMB304,980,000 is expected to
benefit the Company and its subsidiaries over 10 years which is the
estimated remaining average service life of the relevant employees.
Accordingly, the Company and its subsidiaries accrued for the relevant
portion of the subsidies amounting to approximately RMB15,000,000 for
the six months ended 30th June, 2000 and recorded an operating expense
in the profit and loss account. Upon completion of the sales of the
staff quarters to the employees, the total amount of the subsidies
will be recorded by offsetting against the accruals previously made
and the remaining balance will be recorded as deferred asset which
will be amortized over the remaining average service life of the
relevant employees.

V. Purchase, Sale and Redemption of Listed Securities of the Company
During the Period, the Company had not purchased, sold or redeemed any
of the its listed securities.

VI.Significant Matters

(1)The Board of Directors of the Company was granted the authority to
redeem not more than 10% of the Company's issued H Shares at the 1999
Annual Shareholders' Meeting and the Extraordinary Domestic
Shareholders' Meeting held on 28th April, 2000 and the Extraordinary
Foreign Shareholders' Meeting held on 18th May, 2000. Such authority
is currently subject to approvals from relevant government
authorities. The Board of Directors of the Company was also granted
the authority to issue up to 20% of the Company's issued share capital
at the 1999 Annual Shareholders' Meeting.

(2)Pursuant to the resolution of the meeting of the Company's Board of
Directors held on 20th July, 2000, the Company would acquire Unit 2
and part of the common facilities of Phase I of Zhang Jia Kou Power
Plant currently owned by China Huaneng Group Corporation. An agreement
and a supplemental agreement was entered into by the two parties on
10th August, 2000 and an announcement were made by the Board of
Directors of the Company on 14th August, 2000. The acquisition is
subject to approval at the Extraordinary Shareholders' Meeting which
will be held on 29th September, 2000.

VII.  Code of Best Practice
During the period, the Company had complied with the Code of Best
Practice set out in Appendix 14 of the Listing Rules of The Stock
Exchange of Hong Kong Limited.

By Order of the Board
Huang Jinkai
Chairman
Beijing, 30th August, 2000