Resolutions of the Board of D

RNS Number : 7161G

Datang Intl Power Generation Co Ld

27 October 2008

 

DATANG INTERNATIONAL POWER GENERATION CO., LTD.

 (a sino-foreign joint stock limited company incorporated in the People's Republic of China)

(Stock Code: 991)

OVERSEAS REGULATORY ANNOUNCEMENT

ANNOUNCEMENT ON RESOLUTIONS

OF THE BOARD OF DIRECTORS 

Special Notice: The board of directors and all directors of the Company warrant that there are no false representations or misleading statements contained in, or material omissions from, this announcement; and jointly and severally accept full responsibility for the truthfulness, accuracy and completeness of the information contained herein. This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The eighteenth meeting (the 'Meeting') of the sixth session of the board of directors (the 'Board') of Datang International Power Generation Co., Ltd. (the 'Company') was held by way of written correspondence on 24 October 2008. There were fifteen directors eligible for attending the Meeting and all of them attended the Meeting. The Meeting was held in compliance with the provisions stipulated in the Company Law of the People's Republic of China (the 'PRC') and the articles of association of Datang International Power Generation Co., Ltd. The following resolutions were approved unanimously at the Meeting:

1. The 'Explanation on the Release of the 2008 Third Quarterly Report' was considered and approved.

The Board agreed on the 2008 third quarterly report of the Company and authorised any director of the Company to make corresponding amendments to the information set out in the 2008 third quarterly report in accordance with the requirements of information disclosure and to release the 2008 third quarterly report.

2. The “Explanation on Discontinuance on the Use of the Proportionate Consolidation Method for Jointly-controlled Entities” was considered and approved.

The Board agreed to adopt the equity method for the treatment of investee entities which are jointly controlled by the Company and other investors (i.e. jointly-controlled entities) pursuant to the requirements stipulated in 'Circular of the Ministry of Finance Concerning the Issue of the No. 2 Interpretation of Accounting Standards for Enterprises ' (Cai Kuai (2008) No.11). The Board agreed that the Company, in the preparation of the 2008 third quarterly report, shall discontinue the use of the proportionate consolidation method for jointly-controlled entities (i.e.: Hebei Yuzhou Energy Multiple Development Co., Ltd., Kailuan (Group) Yuzhou Mining Company Limited, Fujian Ningde Nuclear Power Company Limited and Inner Mongolia Huineng Datang Changtan Coal Company Limited), and shall make retrospective adjustments to the financial information for the previous years. According to the unaudited figures as at late September 2008, it is estimated that the total consolidated assets of the Company will decrease by RMB2.51 billion while the revenues generated from principal operations will decrease by RMB440 million after discontinuing the use of the proportionate consolidation method for jointly-controlled entities.

By Order of the Board

Zhou Gang  

Secretary to the Board 

Beijing, the PRC, 24 October 2008

As at the date of this announcement, the directors of the Company are:Zhai Ruoyu, Hu Shengmu, Cao Jingshan, Fang Qinghai, Zhou Gang, Liu Haixia,Guan Tiangang, Su Tiegang, Ye Yonghui, Li Gengsheng, Xie Songlin*, Liu Chaoan*, 

Yu Changchun*, Xia Qing* and Li Hengyuan*.* Independent non-executive directors

 

END

 

 

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