6-K 1 tm2213727d1_6k.htm FORM 6-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE
13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934

For the month of April 2022

Commission File Number 001-13314

Huaneng Power International, Inc.

(Translation of registrant’s name into English)

Huaneng Power International, Inc.

Huaneng Building,

6 Fuxingmennei Street,

Xicheng District,

Beijing, 100031 PRC

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

This Form 6-K consists of:

An announcement regarding 2022 first quarterly report of Huaneng Power International, Inc.(the "Registrant"), made by the Registrant on April 27, 2022.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	HUANENG POWER INTERNATIONAL, INC.

	By:	/s/ Huang Chaoquan
	Name:	Huang Chaoquan
	Title:	Company Secretary

Date: April 28, 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, 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 document.

FIRST QUARTERLY REPORT OF 2022

Pursuant to the regulations of Shanghai Stock Exchange, the Company is required to publish a quarterly report for each of the first and third quarters.

All financial information set out in this quarterly report is unaudited and prepared in accordance with the PRC Accounting Standards (“PRC GAAP”).

This announcement is made by the Company pursuant to Rule 13.09 and Rules 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).

IMPORTANT NOTICE

(1)

The board of directors and the supervisory committee of Huaneng Power International, Inc. (the “Company”, “Huaneng International”) together with the members thereof and the senior management warrant that the information contained in this report does not contain any false statements, misleading representations or material omissions. All of them jointly and severally accept responsibility as to the truthfulness, accuracy and completeness of the content of this report.

(2)

All financial information set out in this quarterly report is unaudited and prepared in accordance with the PRC GAAP.

(3)

The legal representative, person in charge of accounting function and person in charge of the accounting department warrant the truthfulness, accuracy and completeness of the content of the quarterly report.

(4)

- 1 -

MAJOR FINANCIAL DATA

(1) Major accounting data and financial information PRC GAAP (unaudited) indices

(Amounts: In RMB Yuan)

Items	From the beginning of the year to the end of current reporting period (January to March)			From the beginning of the preceding year to the end of the equivalent period (January to March)				Variance from equivalent period of last year (%)
				(Before restated)		(Restated)		(Restated)
Operating Revenue		65,250,379,565			49,909,188,093		49,983,683,771		30.54
Net (loss)/profit attributable to equity holders of the Company		(956,338,198	)		3,126,672,348		3,192,127,961		(129.96	)
Net (loss)/profit after deducting non-recurring items attributable to equity holders of the Company		(1,414,681,601	)		2,863,647,779		2,929,103,392		(148.30	)
Net cash flows generated from operating activities		8,403,935,233			11,330,462,982		11,385,310,326		(26.19	)
Basic (losses)/earnings per share (RMB per share)		(0.09	)		0.17		0.17		(152.94	)
Diluted (losses)/earnings per share (RMB per share)		(0.09	)		0.17		0.17		(152.94	)
Return on net assets (weighted average) (%)		(2.62	)		3.47		3.54		Decreased by 6.16 percentage points

	End of current reporting period			End of last year				Variance from end of last year (%)
				(Before restated)		(Restated)		(Restated)
Total Assets		488,810,999,006			490,068,485,832		490,352,918,655		(0.31	)
Equity attributable to equity holders of the Company		104,694,425,640			105,255,590,372		105,535,475,868		(0.80	)

Explanation of reasons for retrospective adjustment or restatement

According to the Notice by the Ministry of Finance of Issuing the Interpretation No. 15 of the Accounting Standards for Business Enterprises (Cai Kuai [2021] NO. 35), proceeds generated during the commissioning period was restated for the corresponding quarter of last year.

- 2 -

(2)

Non-recurring items and amounts

(Amounts: In RMB Yuan)

Items	Total amount from the beginning of the year to the end of current reporting period (January to March)		Notes
Gains from disposal of non-current assets	19,095,883		Mainly generated from disposal of machinery and equipments.
Government grant recorded in income statement, excluding government grant closely related to the Company’s business and calculated according to national unified standards	500,641,998		Mainly included refund on property tax and heating subsidies, etc.
Reversal of impairment loss on receivables and contract assets tested individually for impairment	633,112
Profits and losses from entrusted loans	769,458
Other non-operating income and expenses excluding the above items	34,248,933		Other non-operating income other than the items mentioned above was mainly income from donations accepted by the Company’s subsidiaries, the non-operating expenses were mainly loss of material scrap, donations.
Other non-recurring items	(13,909,434	)	Mainly included fees collected from entrusted management activities and income generated from conducting trusteeship management.
Less: Income tax impact	9,585,771
Impact of non-controlling interests, net of tax	73,550,776

Total	458,343,403

- 3 -

Explanation of defining non-recurring profit and loss items listed in explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public Extraordinary Profit and Loss as recurring profit and loss items

þ Applicable

¨ Not applicable

The Company and its subsidiaries recognised extraordinary profit and loss items in accordance with the requirement of explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public_ Extraordinary Profit and Loss (CSRC announcement [2008] No. 43). The value-added tax levied immediately returned was recognised as recurring profit, as it is closely related to the normal business.

(3)

Disclosure as to, and reasons for, material changes in accounting data and financial indices

þ Applicable

¨ Not applicable

Item	Fluctuation (%)		Reasons
Items of Major Accounting Data and Financial Indices
Operating revenue		30.54	mainly due to the year-on-year increase in domestic electricity sales and heat supply, as well as the year-on-year increase in the average electricity price.
Net profit attributable to equity holders of the Company		-129.96	due to the decrease in the profit of domestic power business operations affected by the rising coal price.
Net (loss)/profit after deducting non-recurring items attributable to equity holders of the Company		-148.30	mainly due to the profit reduction of domestic power business operations affected by the rising coal price.
Basic earnings per share		-152.94	mainly resulted from the decrease in operating profit of the domestic power business due to the rising coal price, and the net profit attributable to the parent company decreased year-on-year.
Diluted earnings per share		-152.94	mainly resulted from the decrease in operating profit of the domestic power business due to the rising coal price, and the net profit attributable to the parent decreased year-on-year.

- 4 -

Item	Fluctuation (%)		Reasons
Items of Consolidated Statement of Financial Position:
Derivative financial assets		93.75	mainly due to the increase of the HSFO price, resulting in an increase in the fair value of fuel swap contracts held by the Company’s subsidiary, SinoSing Power.
Notes receivable		9.18	mainly due to the increase of bill settlement proportion of some regional power grid companies.
Accounts receivable		9.22	mainly due to the increase of power revenue and receivables in relation to renewable energy subsidies.
Advances to suppliers		18.71	mainly due to the increase in prepayments of fuel of some coal fired power plants.
Inventories		-48.42	in comparison to those in fourth quarter of 2021 mainly because heat supply season has ended, causing coal storage decreased and coal price reduced.
Other current assets		-9.58	because coal price dropped, the deductable VAT on purchase decreased accordingly.
Long-term equity investments		1.72	mainly due to the combined effects of investment income RMB378 million and other changes in equity.
Fixed assets		1.21	mainly due to the combined effects of the fact that Construction-in-progress was completed and transferred into fixed assets and the depreciation of fixed assets.
Construction-in-progress		-6.60	mainly due to the fact that the scale of infrastructure construction transferred into fixed assets and new investments.
Contract liabilities		-79.99	mainly due to the reduction on pre- collected heating fees since the end of the heating season.
Current portion of non-current liabilities		-4.18	resulting from decrease in current portion of long-term borrowings.

- 5 -

Item	Fluctuation (%)		Reasons
Other current liabilities		-66.04	mainly because of the decrease in short-term bonds.
Other comprehensive income		48.83	mainly due to the combined effects of the increase in the fair value of the fuel swap contracts of SinoSing Power and foreign currency translation.
Items of Consolidated Statement of Comprehensive Income:
Operating cost		51.07	mainly due to the year-on-year increase in fuel costs which was caused by the increase in coal purchase price.
Tax and surcharge		-31.89	mainly due to the high fuel costs, the actual payment of value-added tax, urban construction tax, education surcharge and local education surcharge decreased year on year.
Research and development expenses		109.59	mainly due to the company's further increase in R&D investment around its main business.
Gain on disposal of assets		-95.63	mainly due to the absence of large asset disposal activities compared with the previous period.
Items of Consolidated Statement of Cash Flows:
Net cash flows generated from operating activities		-26.19	mainly due to the year-on-year increase of fuel cost which resulted in the decrease of the net inflow from operating activities.
Net cash flows generated from/ (used in) financing activities		185.37	mainly due to the year-on-year increase of net financing amount.

- 6 -

II.

SHAREHOLDER INFORMATION

(1)

Total number of shareholders of ordinary shares and shareholders of preference shares with restored voting rights and shareholdings of the top ten shareholders

Unit: share

Total number of ordinary shareholders at the end of the reporting period

125,055

Total number of preference shareholders whose voting rights have been restored at the end of the reporting period (if any)

–

Shareholdings of the top ten shareholders

Percentage of

Number of
shares held

Shares pledged,
marked or frozen

Name of shareholders

Nature of
shareholders

Number of
shares held

shareholding
(%)

with selling
restriction

Status of
shares

Number

Huaneng International Power Development Corporation

State-owned entity

5,066,662,118

32.28

–

Nil

–

HKSCC Nominees Limited

Foreign entity

4,126,188,182

26.28

–

Nil

–

China Huaneng Group Co., Ltd.

State-owned entity

1,555,124,549

9.91

–

Nil

–

Hebei Construction & Investment Group Co., Ltd.

State-owned entity

493,316,146

3.14

–

Nil

–

China Hua Neng Group Hong Kong Limited

Foreign entity

472,000,000

3.01

–

Nil

–

China Securities Finance Corporation Limited

State-owned entity

466,953,720

2.97

–

Nil

–

Jiangsu Guoxin Investment Group Limited

State-owned entity

309,774,700

1.97

–

Nil

–

Liaoning Energy Investment (Group) Limited Liability Company

State-owned entity

244,205,000

1.56

–

Nil

–

Dalian City Investment Holding Group Co., Ltd.

State-owned entity

231,650,000

1.48

–

Charges

107,064,500

Industrial Bank Co., Ltd. – Xingquan Trend Investment Hybrid Securities Investment Fund

Other

166,051,848

1.06

–

Nil

–

- 7 -

Shareholdings of the top ten shareholders whose shares are not subject to selling restrictions

	Number of shares in circulation without any selling restrictions as at the end of the		Type and number of shares
Name of shareholders	reporting period		Type	Number
Huaneng International Power Development Corporation		5,066,662,118	RMB denominated ordinary shares		5,066,662,118
HKSCC Nominees Limited		4,126,188,182	Overseas listed foreign invested shares		4,126,188,182
China Huaneng Group Co., Ltd.		1,555,124,549	RMB denominated ordinary shares		1,555,124,549
Hebei Construction & Investment Group Co., Ltd.		493,316,146	RMB denominated ordinary shares		493,316,146
China Hua Neng Group Hong Kong Limited		472,000,000	Overseas listed foreign invested shares		472,000,000
China Securities Finance Corporation Limited		466,953,720	RMB denominated ordinary shares		466,953,720
Jiangsu Guoxin Investment Group Limited		309,774,700	RMB denominated ordinary shares		309,774,700
Liaoning Energy Investment (Group) Limited Liability Company		244,205,000	RMB denominated ordinary shares		244,205,000
Dalian City Investment Holding Group Co., Ltd.		231,650,000	RMB denominated ordinary shares		231,650,000
Industrial Bank Co., Ltd. – Xingquan Trend Investment Hybrid Securities Investment Fund		166,051,848	RMB denominated ordinary shares		166,051,848
Details relating to the related relationship of the above shareholders or the parties acting in concert		Among the above shareholders, China Huaneng Group Co., Ltd., Huaneng International Power Development Corporation and China Hua Neng Group Hong Kong Limited are regarded as parties acting in concert under the “Management Rules on Acquisition of Listing Companies”. The Company is not aware of any related relationship among other shareholders.
Description of the top 10 shareholders and the top 10 unrestricted shareholders participating in margin trading and securities lending and refinancing business (if any)		–

- 8 -

III.

OTHER REMINDERS

Other important information about the operation of the Company during the reporting period that needs to be reminded of investors

¨ Applicable

þ Not applicable

IV.

QUARTERLY FINANCIAL STATEMENTS

(1)

Type of Audit Opinion

¨ Applicable

þ Not applicable

(2)

Financial Statements

HUANENG POWER INTERNATIONAL, INC.

UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (PRC GAAP)

AS AT 31 MARCH 2022

Amounts: In RMB Yuan, Except as noted

ASSETS	31 March 2022		31 December 2021
	Consolidated		Consolidated
			(Restated)
CURRENT ASSETS
Bank balances and cash		16,957,346,373		16,350,332,130
Derivative financial assets		1,264,155,095		652,458,025
Notes receivable		4,087,051,186		3,743,482,439
Accounts receivable		43,533,169,917		39,856,733,939
Accounts receivable financing		–		277,781,094
Advances to suppliers		5,266,421,860		4,436,263,536
Other receivables		3,738,063,039		3,527,482,093
Inventories		8,678,012,102		16,824,431,439
Contract assets		57,749,291		66,973,934
Current portion of non-current assets		562,594,376		550,606,561
Other current assets		5,592,286,516		6,184,579,414

Total current assets		89,736,849,755		92,471,124,604

- 9 -

ASSETS (CONTINUED)	31 March 2022		31 December 2021
	Consolidated		Consolidated
			(Restated)
NON-CURRENT ASSETS
Derivative financial assets		54,256,477		69,753,069
Long-term receivables		9,139,652,502		9,261,917,550
Long-term equity investments		23,297,104,268		22,903,969,556
Other equity instrument investments		722,205,073		729,070,008
Investment properties		629,319,972		635,268,452
Fixed assets		269,624,596,407		266,396,729,235
Construction-in-progress		46,817,334,143		50,125,125,416
Right-of-use assets		7,783,060,022		7,988,306,698
Intangible assets		14,186,356,725		14,188,940,973
Goodwill		11,198,210,901		11,234,942,930
Long-term deferred expenses		263,745,095		267,989,426
Deferred income tax assets		5,658,131,486		5,503,846,957
Other non-current assets		9,700,176,180		8,575,933,781

Total non-current assets		399,074,149,251		397,881,794,051

TOTAL ASSETS		488,810,999,006		490,352,918,655

LIABILITIES AND EQUITY

CURRENT LIABILITIES
Short-term loans		88,700,427,007		91,896,724,789
Derivative financial liabilities		42,979,430		41,033,947
Notes payable		2,889,478,585		3,150,276,709
Accounts payable		21,977,084,113		22,623,961,502
Contract liabilities		655,254,690		3,274,769,864
Salary and welfare payables		1,045,055,189		1,020,063,505
Taxes payable		1,213,690,647		2,053,418,012
Other payables		27,003,169,998		28,188,233,094
Current portion of non-current liabilities		24,203,315,060		25,258,832,021
Other current liabilities		3,019,134,178		8,890,987,394

Total current liabilities		170,749,588,897		186,398,300,837

- 10 -

LIABILITIES AND EQUITY (CONTINUED)	31 March 2022			31 December 2021
	Consolidated			Consolidated
				(Restated)
NON-CURRENT LIABILITIES
Long-term loans		147,321,991,730			136,857,716,583
Derivative financial liabilities		77,143,058			99,323,322
Bonds payable		33,898,345,044			29,396,919,284
Lease liabilities		5,705,288,988			5,793,406,727
Long-term payables		1,353,489,901			1,170,649,122
Long-term employee benefits payable		45,180,425			44,237,063
Provision		33,185,264			33,839,001
Deferred income		2,391,348,996			2,586,661,586
Deferred income tax liabilities		1,045,554,225			900,884,705
Other non-current liabilities		2,819,443,212			2,894,542,849

Total non-current liabilities		194,690,970,843			179,778,180,242

TOTAL LIABILITIES		365,440,559,740			366,176,481,079

EQUITY
Share capital		15,698,093,359			15,698,093,359
Other equity instruments		48,660,023,535			48,417,976,965
Capital surplus		17,657,439,809			17,642,892,463
Other comprehensive income		(397,061,474	)		(775,923,804	)
Special reserves		73,554,707			72,809,895
Surplus reserves		8,186,274,738			8,186,274,738
Undistributed profits		14,816,100,966			16,293,352,252

Equity attributable to equity holders of the Company		104,694,425,640			105,535,475,868

Non-controlling interests		18,676,013,626			18,640,961,708

Total equity		123,370,439,266			124,176,437,576

TOTAL LIABILITIES AND EQUITY		488,810,999,006			490,352,918,655

Legal representative:	Person in charge of accounting function:	Person in charge of accounting department:
Zhao Keyu	Huang Lixin	Wei Zhongqian

- 11 -

HUANENG POWER INTERNATIONAL, INC.

UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (PRC GAAP)

FOR THE THREE MONTHS ENDED 31 MARCH 2022

Amounts: In RMB Yuan, Except as noted

	For the three months ended 31 March
	2022		2021
	Consolidated		Consolidated
			(Restated)
Operating revenue	65,250,379,565		49,983,683,771
Less: Operating cost	62,865,124,837		41,613,525,300
Tax and surcharge	353,178,786		518,554,968
Selling expenses	50,671,489		39,068,711
General and administrative expenses	1,243,203,719		1,325,529,448
Research and development expenses	76,882,464		36,683,084
Financial expenses	2,536,077,949		2,200,593,812
Add: Other income	518,721,376		192,150,572
Investment income	378,702,646		357,335,226
Including: Investment income from associates and joint ventures	377,814,750		358,870,478
Reversal of credit loss	1,472,804		374,834
Reversal of asset impairment	–		615,203
Gain on disposal of assets	7,623,990		174,427,600

Operating (loss)/profit	(968,238,863	)	4,974,631,883
Add: Non-operating income	72,397,885		48,521,337
Less: Non-operating expenses	24,038,542		26,778,736

(Loss)/profit before tax	(919,879,520	)	4,996,374,484
Less: Income tax expense	192,050,769		900,015,173

Net (loss)/profit	(1,111,930,289	)	4,096,359,311

(1) Classification according to the continuity of operation Continuous operating net (loss)/profit	(1,111,930,289	)	4,096,359,311

(2) Classification according to ownership
Attributable to:
Equity holders of the Company	(956,338,198	)	3,192,127,961
Non-controlling interests	(155,592,091	)	904,231,350

(Losses)/earnings per shares (based on the net (loss)/profit attributable to equity holders of the Company)
(expressed in RMB per share)
– Basic (losses)/earnings per share	(0.09	)	0.17
– Diluted (losses)/earnings per share	(0.09	)	0.17

- 12 -

	For the three months ended 31 March
	2022			2021
	Consolidated			Consolidated
				(Restated)
Other comprehensive income, net of tax		288,830,657			372,915,824

Other comprehensive income (net of tax) attributed to equity holders of the Company		378,862,330			239,509,771

Other comprehensive loss (net of tax) attributed to equity holders of the Company that may not be reclassified to profit or loss		(4,777,190	)		(21,785,812	)
Including
Share of other comprehensive loss of the equity-accounted investee that may not be reclassified to profit or loss		(184,721	)		(22,308,790	)
(Losses)/gains arising from changes in fair value of other equity instrument investments		(4,592,469	)		522,978

Other comprehensive income (net of tax) attributed to equity holders of the Company that may be reclassified to profit or loss		383,639,520			261,295,583
Including
Share of other comprehensive income /(loss) of investees accounted for under the equity method		(9,196,765	)		161,081
Effective portion of cash flow hedges		524,842,295			318,976,934
Translation differences of the financial statements of foreign operations		(132,006,010	)		(57,842,432	)

Other comprehensive (loss)/income, net of tax, attributable to non-controlling interests		(90,031,673	)		133,406,053

Total comprehensive (loss)/income		(823,099,632	)		4,469,275,135

Attributable to:
Equity holders of the Company		(577,475,868	)		3,431,637,732
Non-controlling interests		(245,623,764	)		1,037,637,403

Legal representative:

Person in charge of
accounting function:

Person in charge of
accounting department:

Zhao Keyu

Huang Lixin

Wei Zhongqian

- 13 -

HUANENG POWER INTERNATIONAL, INC.

UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS (PRC GAAP)

FOR THE THREE MONTHS ENDED 31 MARCH 2022

Amounts: In RMB Yuan, Except as noted

	For the three months ended 31 March
	2022			2021
	Consolidated			Consolidated
				(Restated)
Cash flows generated from operating activities
Cash received from sales of goods and services rendered		71,777,412,976			53,206,054,087
Cash received from return of taxes and fees		335,547,866			27,017,375
Other cash received relating to operating activities		592,272,528			242,449,087

Sub-total of cash inflows of operating activities		72,705,233,370			53,475,520,549

Cash paid for goods and services received		(57,834,684,209	)		(34,605,112,792	)
Cash paid to and on behalf of employees		(3,767,140,628	)		(3,877,301,967	)
Payments of taxes		(2,291,746,282	)		(3,384,249,350	)
Other cash paid relating to operating activities		(407,727,018	)		(223,546,114	)

Sub-total of cash outflows of operating activities		(64,301,298,137	)		(42,090,210,223	)

Net cash flows generated from operating activities		8,403,935,233			11,385,310,326

Cash flows generated from investing activities
Proceeds from disposal of an investment		–			223,759,636
Cash received on investment income		925,396			2,582,803
Proceeds from disposal of fixed assets, intangible assets and other non-current assets		35,136,124			202,647,939
Other cash received relating to investing activities		7,289,892			–

Sub-total of cash inflows of investing activities		43,351,412			428,990,378

Payment for the purchase of fixed assets, intangible assets and other non-current assets		(7,962,973,757	)		(9,642,429,571	)
Cash paid for investments		(1,063,887,122	)		(51,472,222	)

Sub-total of cash outflows of investing activities		(9,026,860,880	)		(9,693,901,793	)

Net cash flows used in investing activities		(8,983,509,468	)		(9,264,911,415	)

- 14 -

	For the three months ended 31 March
	2022			2021
	Consolidated			Consolidated
				(Restated)
Cash flows generated from financing activities
Cash received from investments		293,032,724			87,211,989
Including: cash received from non-controlling interests of subsidiaries		293,032,724			87,211,989
Cash received from borrowings		77,701,786,724			55,746,098,708
Other cash received relating to financing activities		5,105,584			–

Sub-total of cash inflows of financing activities		77,999,925,032			55,833,310,697

Repayments of borrowings		(72,491,481,309	)		(54,391,135,672	)
Payments for dividends, profit or interest expense		(3,149,414,214	)		(2,289,618,528	)
Including: dividends paid to non-controlling interests of subsidiaries		(140,080,000	)		(62,920,909	)
Other cash paid relating to financing activities		(709,779,673	)		(1,084,551,051	)

Sub-total of cash outflows of financing activities		(76,350,675,196	)		(57,765,305,251	)

Net cash flows generated from/(used in) financing activities		1,649,249,836			(1,931,994,554	)

Effect of exchange rate fluctuations on cash held		(293,310,798	)		154,440,328

Net increase in cash and cash equivalents		776,364,803			342,844,685
Add: cash and cash equivalents at beginning of period		15,554,825,027			13,257,892,557

Cash and cash equivalents at end of period		16,331,189,830			13,600,737,242

Legal representative:

Person in charge of
accounting function:

Person in charge of
accounting department:

Zhao Keyu

Huang Lixin

Wei Zhongqian

- 15 -

Adjustments of financial statements at the beginning of the year in which the new accounting standards were implemented for the first time since 2022

þ Applicable

¨ Not applicable

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

Amounts: In RMB Yuan, Except as noted

ASSETS	31 December 2021		31 December 2021		Restatement
	Consolidated		Consolidated
			(Restated)
CURRENT ASSETS:
Bank balances and cash		16,350,332,130		16,350,332,130		–
Derivative financial assets		652,458,025		652,458,025		–
Notes receivable		3,743,482,439		3,743,482,439		–
Accounts receivable		39,856,733,939		39,856,733,939		–
Accounts receivable financing		277,781,094		277,781,094		–
Advances to suppliers		4,436,263,536		4,436,263,536		–
Other receivables		3,527,482,093		3,527,482,093		–
Inventories		16,824,431,439		16,824,431,439		–
Contract assets		66,973,934		66,973,934		–
Current portion of non-current assets		550,606,561		550,606,561		–
Other current assets		6,184,579,414		6,184,579,414		–

Total current assets		92,471,124,604		92,471,124,604		–

NON-CURRENT ASSETS:
Derivative financial assets		69,753,069		69,753,069		–
Long-term receivables		9,261,917,550		9,261,917,550		–
Long-term equity investments		22,903,969,556		22,903,969,556		–
Other equity instrument investments		729,070,008		729,070,008		–
Investment properties		635,268,452		635,268,452		–
Fixed assets		266,132,642,178		266,396,729,235		264,087,057
Construction-in-progress		50,104,779,650		50,125,125,416		20,345,766
Right-of-use assets		7,988,306,698		7,988,306,698		–
Intangible assets		14,188,940,973		14,188,940,973		–
Goodwill		11,234,942,930		11,234,942,930		–
Long-term deferred expenses		267,989,426		267,989,426		–
Deferred income tax assets		5,503,846,957		5,503,846,957		–
Other non-current assets		8,575,933,781		8,575,933,781		–

Total non-current assets		397,597,361,228		397,881,794,051		284,432,823

TOTAL ASSETS		490,068,485,832		490,352,918,655		284,432,823

- 16 -

LIABILITIES AND EQUITY	31 December 2021		31 December 2021		Restatement
	Consolidated		Consolidated
			(Restated)
CURRENT LIABILITIES:
Short-term loans		91,896,724,789		91,896,724,789		–
Derivative financial liabilities		41,033,947		41,033,947		–
Notes payable		3,150,276,709		3,150,276,709		–
Accounts payable		22,623,961,502		22,623,961,502		–
Contract liabilities		3,274,769,864		3,274,769,864		–
Salary and welfare payables		1,020,063,505		1,020,063,505		–
Taxes payable		2,053,418,012		2,053,418,012		–
Other payables		28,188,233,094		28,188,233,094		–
Current portion of non-current liabilities		25,258,832,021		25,258,832,021		–
Other current liabilities		8,890,987,394		8,890,987,394		–

Total current liabilities		186,398,300,837		186,398,300,837		–

NON-CURRENT LIABILITIES:
Long-term loans		136,857,716,583		136,857,716,583		–
Derivative financial liabilities		99,323,322		99,323,322		–
Bonds payable		29,396,919,284		29,396,919,284		–
Lease liabilities		5,793,406,727		5,793,406,727		–
Long-term payables		1,170,649,122		1,170,649,122		–
Long-term employee benefits payable		44,237,063		44,237,063		–
Provision		33,839,001		33,839,001		–
Deferred income		2,586,661,586		2,586,661,586		–
Deferred income tax liabilities		900,884,705		900,884,705		–
Other non-current liabilities		2,894,542,849		2,894,542,849		–

Total non-current liabilities		179,778,180,242		179,778,180,242		–

TOTAL LIABILITIES		366,176,481,079		366,176,481,079		–

- 17 -

LIABILITIES AND EQUITY	31 December 2021			31 December 2021			Restatement
	Consolidated			Consolidated
				(Restated)
EQUITY
Share capital		15,698,093,359			15,698,093,359			–
Other equity instruments		48,417,976,965			48,417,976,965			–
Capital surplus		17,642,892,463			17,642,892,463			–
Other comprehensive income		(775,923,804	)		(775,923,804	)		–
Special reserves		72,809,895			72,809,895			–
Surplus reserves		8,186,274,738			8,186,274,738			–
Undistributed profits		16,013,466,756			16,293,352,252			279,885,496
Equity attributable to equity holders of the Company		105,255,590,372			105,535,475,868			279,885,496
Non-controlling interests		18,636,414,381			18,640,961,708			4,547,327

Total equity		123,892,004,753			124,176,437,576			284,432,823

TOTAL LIABILITIES AND EQUITY		490,068,485,832			490,352,918,655			284,432,823

Explanation of reasons for retrospective adjustment or restatement

þ Applicable

¨ Not applicable

According to the notice by the Ministry of Finance of Issuing the Interpretation No. 15 of the Accounting Standards for Business Enterprises (Cai Kuai [2021] NO.35), for the sales and cost during the commissioning period will not be deducted from the carrying value of the relevant assets, but will be accounted for separately and included in the current profit and loss. This should be applied retrospectively to the assets on or after the beginning of the earliest period presented when the entity first applies the Notice.

- 18 -

By Order of the Board
Huaneng Power International, Inc.
Huang Chaoquan
Company Secretary

As of the date of the announcement, the directors of the Company are:

Zhao Keyu (Executive Director)	Xu Mengzhou (Independent Non-executive Director)
Zhao Ping (Executive Director)	Liu Jizhen (Independent Non-executive Director)
Huang Jian (Non-executive Director)	Xu Haifeng (Independent Non-executive Director)
Wang Kui (Non-executive Director)	Zhang Xianzhi (Independent Non-executive Director)
Lu Fei (Non-executive Director)	Xia Qing (Independent Non-executive Director)
Teng Yu (Non-executive Director)
Mi Dabin (Non-executive Director)
Cheng Heng (Non-executive Director)
Li Haifeng (Non-executive Director)
Lin Chong (Non-executive Director)

Beijing, the PRC
27 April 2022

- 19 -

SEC Form 6-K filed by Huaneng Power Intl