Datang Environment Industry : DOMESTIC PUBLIC ISSUANCE OF GREEN CORPORATE BONDS

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 Environment Industry Group Co., Ltd.*

大 唐 環 境 產 業 集 團 股 份 有 限 公 司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1272)

DOMESTIC PUBLIC ISSUANCE OF

GREEN CORPORATE BONDS

This announcement is made by Datang Environment Industry Group Co., Ltd. (the "Company" and, together with its subsidiaries, the "Group") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the supplemental circular of the extraordinary general meeting of the Company dated 16 October 2019 (the "Circular") and the announcement on poll results of the extraordinary general meeting dated 31 October 2019. Unless otherwise specified, the terms used herein shall have the same meanings as those defined in the Circular.

At the extraordinary general meeting convened on 31 October 2019, the Shareholders passed the special resolution on the issuance of corporate bonds and the authorization granted to the Board or its authorized persons to handle all matters relating to the domestic issuance of bonds. The Board is pleased to announce that the Company has obtained approvals from the China Securities Regulatory Commission for the public issuance of the green corporate bonds with a principal amount of not exceeding RMB2 billion to qualified investors in the PRC and with a term of not more than 10 years (10 years inclusive) (the "Issue"). Haitong Securities Co., Ltd.* ( 海 通 證 券 股 份 有 限 公

司), Huatai Securities Co., Ltd. ( 華 泰 聯 合 證 券 有 限 責 任 公 司) and China Minzu Securities Co., Ltd. ( 中 國 民 族 證 券 有 限 責 任 公 司), currently known as Founder Securities Underwriting and Sponsoring Co., Ltd.* ( 方 正 證 券 承 銷 保 薦 有 限 責 任 公 司) are the lead underwriters of the Issue. After deducting the issue expenses, not less than 70% of the proceeds from the Issue is proposed to be used for business

development in the green industry field in compliance with the requirements of the Green Bond Endorsed Project Catalogue (2015 Edition) 《( 綠 色 債 券 支 持 項 目 目 錄 (2015 年 版)》), and the remaining funds are proposed to be used for replenishment of working capital or repayment of interest-bearing liabilities.

- 1 -

The Company has posted the "Public Issuance of 2019 Green Corporate Bonds Offering Memorandum (to qualified investors)*《公 開 發 行2019 年 綠 色 公 司 債 券 募 集 說 明 書（面 向 合 格 投 資 者）》" and its related documents on the website of the Shanghai Stock Exchange ( 上 海 證 券 交 易 所) (www.sse.com.cn).

The unaudited financial information as of 30 September 2019 of the Company in relation to the Issue (at consolidation level and at the parent company level) (prepared under the China Accounting Standards for Business Enterprises) are set out in the appendix to this announcement.

Holders of Shares or other securities of the Company and potential investors of the Company should exercise caution when dealing in the Shares or other securities of the Company.

By order of the Board

Datang Environment Industry Group Co., Ltd.*

Jin Yaohua

Chairman

Beijing, the PRC, 10 December 2019

As of the date of this announcement, the non-executive Directors are Mr. Jin Yaohua, Mr. Liu Quancheng, Mr. Liu Ruixiang, Mr. Li Zhenyu; executive Directors are Mr. Hou Guoli and Mr. Wang Yanwen; and the independent non-executive Directors are Mr. Ye Xiang, Mr. Mao Zhuanjian and Mr. Gao Jiaxiang.

• For identification purposes only

- 2 -

APPENDIX
CONSOLIDATED BALANCE SHEET
				Unit of amount: RMB
		Balance at		Balance at
		the beginning of		the end of
Items	Line	the year		the period
Current assets:	1	-		-
Cash	2	1,749,652,047.01	1,039,989,465.17
△Settlement reserves	3
△Placements with banks and other
financial institutions	4
☆Financial assets held for trading	5
Financial assets at fair value through
profit or loss	6
Derivative financial assets	7
Bills receivable	8	493,232,729.92		493,185,554.21
Trade receivables	9	7,905,272,425.83		8,413,798,810.54
Including: Electricity charges receivable	10
Heat charges receivable	11
Prepayments	12	342,675,144.91		781,870,680.83
△Premium receivables	13
△Receivables from reinsurers	14
△Deposits receivable from reinsurance	15
Other receivables	16	217,065,511.06	177,108,927.68
△Financial assets held under resale
agreements	17
Inventory	18	153,520,201.49	215,212,615.05
Including: Raw materials	19	76,163,532.73	107,553,684.30
Fuel	20
Stock inventory (finished
products)	21	69,361,888.89	90,070,853.76
☆Contract assets	22	982,435,553.53	674,029,613.59
Held-for-sale assets	23
Non-current assets due within one year	24
Other current assets	25	329,118,951.04	397,685,454.87
Total current assets
26	12,172,972,564.79		12,192,881,121.94

- 3 -

		Balance at	Balance at
		the beginning of	the end of
Items	Line	the year	the period
Non-current assets:	27	-	-
△Loans and advances granted	28
☆Debt investment	29
Financial assets available for sale	30
☆Other debt investment	31
Held-to-maturity investment	32
Long-term receivables	33	93,428,949.52	93,428,949.52
Long-term equity investment	34
☆Other equity instrument investment	35	7,171,495.00	7,171,495.00
☆Other non-current financial assets	36
Funds to branches	37
Investment properties	38
Fixed assets	39	6,283,908,165.25	5,778,871,431.16
Construction in progress	40	1,391,244,757.76	1,663,269,221.90
Productive biological assets	41
Oil and gas assets	42
Intangible assets	43	111,566,773.90	101,703,064.84
Development costs	44	116,114,059.96	131,463,334.91
Goodwill	45
Long-term deferred expenses	46	203,473,870.30	373,957,924.44
Deferred income tax assets	47	45,395,286.32	45,233,989.83
Other non-current assets	48	34,705,484.48
Including: Physical assets reserve
specifically authorized	49
Total non-current assets
50	8,287,008,842.49		8,195,099,411.60
Total assets
51	20,459,981,407.28		20,387,980,533.54

- 4 -

		Balance at	Balance at
		the beginning of	the end of
Items	Line	the year	the period
Current liabilities:	52	-	-
Short-term borrowings	53	1,420,223,206.98	2,500,024,384.52
△Borrowings from central bank	54
△Absorbing deposit and interbank
deposit	55
△Placements from banks and other
financial institutions	56
☆Financial liabilities held for trading	57
Financial liabilities at fair value through
profit or loss	58
Derivative financial liabilities	59
Bills payable	60	227,909,632.22		149,687,460.45
Trade payables	61	6,253,352,149.75		5,099,510,910.39
Advances received	62
☆Contract liabilities	63	312,064,108.66		821,770,496.17
Inter office account	64
△Amount from sales of repurchased
financial assets	65
△Handling charge and commissions
payable	66
Staff remuneration payable	67	911,001.02		1,185,517.18
Including: Salary payable	68
Benefits payable	69			12,600.00
Including: Employee bonus and welfare
fund	70
Tax charge payable	71	67,193,894.14		35,281,044.13
Including: Tax payable	72	64,381,564.47	33,580,165.26
Other payables	73	1,310,342,489.88	1,042,253,090.97
△Payables to reinsurers	74
△Deposits for insurance contracts	75
△Client money received for acting as
securities trading agent	76
△Client money received for acting as
securities underwriter	77
Held-for-sale liabilities	78
Non-current liabilities due within one
year	79	603,624,463.49		719,630,941.06
Other current liabilities	80
Total current liabilities	81	10,195,620,946.14		10,369,343,844.87

- 5 -

		Balance at	Balance at
		the beginning of	the end of
Items	Line	the year	the period
Non-current liabilities:	82	-	-
Long-term borrowings	83	2,906,047,678.30	2,785,541,717.66
Debentures payable	84
Including: Preferred shares	85
Perpetual bonds	86
Long-term payables	87
Long-term employee remuneration
payable	88
Accrued liabilities	89	6,120,000.00	5,661,899.99
Deferred income	90	32,870,336.39	31,764,662.87
Fund appropriated by the parent company	91
Including: Unified-borrowing and
unified-lending	92
Deferred income tax liabilities	93
Other non-current liabilities	94
Including: Special reserve fund	95
Total non-current liabilities
96	2,945,038,014.69		2,822,968,280.52
Total liabilities
97	13,140,658,960.83		13,192,312,125.39

- 6 -

		Balance at	Balance at
		the beginning of	the end of
Items	Line	the year	the period
Owners' equity (or shareholders' equity):	98	-	-
Paid-in capital (share capital)	99	2,967,542,000.00	2,967,542,000.00
Government capital	100	2,356,580,000.00	2,356,580,000.00
Including: State-owned legal
person's capital	101	2,356,580,000.00	2,356,580,000.00
Collective capital	102
Private capital	103
Including: Personal capital	104
Foreign capital	105	610,962,000.00	610,962,000.00
Less: Investment returned	106
Net paid-in capital (share capital)	107	2,967,542,000.00	2,967,542,000.00
Other equity instruments	108
Including: Preference shares	109
Perpetual bonds	110
Capital reserves	111	1,315,484,013.05	1,315,484,013.05
Less: Treasury stock	112
Other comprehensive income	113	1,528,909.07	783,739.78
Including: Foreign currency translation
differences	114	-316,861.68	-1,062,030.97
Special reserve	115
Surplus reserves	116	350,103,353.44	350,103,353.44
Including: Statutory reserves	117	350,103,353.44	350,103,353.44
Discretionary reserve	118
Reserve funds	119
Enterprise development
fund	120
Profit return for investment	121
△Provision for general risk	122
Unallocated profits	123	2,486,749,256.34	2,364,821,627.02
Total equity attributable to the parent's
owners (or shareholders)	124	7,121,407,531.90	6,998,734,733.29
Minority interests	125	197,914,914.55	196,933,674.86
Total owners' equity (or shareholders'
equity)	126	7,319,322,446.45		7,195,668,408.15
Total liabilities and owners' equity (or
shareholders' equity)	127	20,459,981,407.28		20,387,980,533.54

- 7 -

CONSOLIDATED INCOME STATEMENT
				Unit of amount: RMB
			Amount for	Amount for	Amount for
	Items	Line	this month	this year	last year
I.	Total Operating Revenue	1	492,960,458.32	4,022,688,225.75	4,806,689,140.09
	Including: Operating revenue	2	492,960,458.32	4,022,688,225.75	4,806,689,140.09
	Including: Revenue from principal business	3	490,789,544.11	4,007,826,260.99	4,789,242,407.86
	Including: (1) Electricity sales revenue	4
	(2) Thermal Sales Revenue	5
	(3) Others	6	490,789,544.11	4,007,826,260.99	4,789,242,407.86
	Other business income	7	2,170,914.21	14,861,964.76	17,446,732.23
	△ Interest income	8
	△ Premium earned	9
	△ Handling fee and commission income	10
II.	Total Operating Cost	11	427,034,366.90	3,825,292,971.26	4,254,558,814.55
	Including: Operating cost	12	374,627,643.13	3,250,672,668.83	3,930,299,590.44
	Including: Cost of principal business	13	370,715,955.76	3,218,805,597.70	3,908,121,841.94
	Including: (1) Electricity sales Cost	14
	(2) Thermal sales cost	15
	(3) Others	16	370,715,955.76	3,218,805,597.70	3,908,121,841.94
	Other business cost	17	3,911,687.37	31,867,071.13	22,177,748.50
	△ Interest expenses	18
	△ Handling fee and commission expenses	19
	△ Surrender value	20
	△ Net cash in compensation	21
	△ Net provisions for insurance contract	22
	△ Policy payment expense	23
	△ Reinsurance expenses	24
	Taxes and surcharges	25	4,516,942.94	25,301,875.38	25,826,059.61
	Sales expenses	26	3,500,546.88	24,623,723.54	34,669,230.74
	Administration expenses	27	24,717,795.47	227,123,214.82	136,501,463.58
	Party Construction expenses	28	18,118.41	129,611.29
	Research and development expenses	29	1,850,648.95	8,047,063.27	3,191,662.47
	Financial expenses	30	17,820,789.53	177,722,584.75	118,923,365.44
	Including: Interest expenses	31	19,056,717.47	171,337,236.65	143,926,832.84
	Interest income	32	2,324,671.94	7,953,452.70	10,163,581.26
	Net exchange gains	33
	Net exchange losses	34	4,947.24	-4,369.76	-18,244,696.99
	Asset impairment losses	35		111,801,840.67	5,147,442.27
	☆ Credit impairment loss	36
	Others	37
	Add: Other income	38	14,423,359.78	72,030,826.74	69,756,640.74

- 8 -

		Amount for	Amount for	Amount for
Items	Line	this month	this year	last year
Investment income (Loss marked with "-")	39
Including: Income from investment in
associates and joint ventures	40
△ Exchange gains (Losses marked with "-")	41

• Gains on net exposure hedges (Losses marked

	with "-")	42
	Gains from change in fair value (Losses marked
	with "-")	43
	Gains from disposal of assets (Losses marked
	with "-")	44
III.	Operating profit (Loss marked with "-")	45	80,349,451.20	269,426,081.23	621,886,966.28
	Add: Non-operating income	46	25,257.92	434,327.94	2,015,937.89
	Government grants	47	18,867.92	18,867.92	462,865.92
	Gains from debt restructuring	48
	Less: Non-operating expenses	49	551,026.65	758,669.35	1,980,736.27
	Loss for debt restructuring	50
IV.	Total profit (Loss marked with "-")	51	79,823,682.47	269,101,739.82	621,922,167.90
	Less: Income tax expenses	52	-1,942,711.55	59,640,498.68	111,028,603.71
V.	Net profit (Net loss marked with "-")	53	81,766,394.02	209,461,241.14	510,893,564.19
	(I) Items classified according to ownership:	54	-	-	-
	Net profit attributable to the owners of parent
	company	55	81,009,592.90	204,501,990.68	498,274,081.81
	Minority interests	56	756,801.12	4,959,250.46	12,619,482.38
	(II)Items classified by continuing operations:	57	-	-	-
	Net profit from continuing operation	58	81,766,394.02	209,461,241.14	510,893,564.19
	Net profit from discontinued operation	59
VI.	Net other comprehensive income after tax	60	-634,834.42	-1,330,659.44	-1,659,742.41
	Net other comprehensive income after tax
	attributable to the owners of parent company	61	-355,507.27	-745,169.29	-1,659,742.41

1. Other comprehensive income that cannot be reclassified to profit or loss in subsequent

	periods	62
1.	Changes arising from the remeasurement of
	defined benefit plans	63
2.	Other comprehensive income under equity
	method that cannot be reclassified into
	profit or loss	64

• 3. Changes in fair value of investment in other

equity instruments

65

- 9 -

		Amount for	Amount for	Amount for
Items	Line	this month	this year	last year

• 4. Changes in fair value of the Company's own

credit risk	66
5. Others	67
(II)Other comprehensive income that will be
reclassified to profit or loss	68	-355,507.27	-745,169.29	-1,659,742.41

1. Other comprehensive income that can be reclassified into profit or loss under equity

☆ 2.	method	69
Changes in fair value of other debt
	investments	70
3.	Gains and losses from changes in fair value
☆ 4.	of available-for-sale financial assets	71
Amount of financial assets reclassified into
	other comprehensive income	72

5. Gains and losses from held-to-maturity investment reclassified as available-for-

sale financial assets

73

• 6. Credit impairment Provisions for other debt

investment	74
7. Reserves for cash flows hedges (effective
part of hedging gains and losses from cash
flows)	75
8. Exchange differences from retranslation of
financial statements	76	-355,507.27	-745,169.29	-1,659,742.41
9. Others	77
* Net other comprehensive income after tax
attributable to minority shareholders	78	-279,327.15	-585,490.15
VII. Total comprehensive income	79	81,131,559.60	208,130,581.70	509,233,821.78
Total comprehensive income attributable to the
owners of parent company	80	80,654,085.63	203,756,821.39	498,120,818.87
* Total comprehensive income attributable to
minority shareholders	81	477,473.97	4,373,760.31	11,113,002.91
VIII. Earnings per share:	82	-	-	-
Basic earnings per share	83
Diluted earnings per share	84

- 10 -

CONSOLIDATED CASH FLOWS STATEMENT
			Unit of amount: RMB
		Amount for	Amount for
Items	Line	last period	this period
I. Cash flows generated from operating activities:	1	-	-
Cash from sales of goods and provision of
labour services	2	4,464,045,236.07	3,426,139,454.81

• Net increase in customer deposits and interbank

deposits	3
△ Net increase in borrowings from central bank	4

• Net increase in borrowings from other financial

institutions

5

• Cash received from premium of original

insurance contract	6
△ Net cash inflow from reinsurance business	7
△ Net increase in deposit of the insured and
investment	8

• Net increase in disposal of financial assets at

fair value through profit or loss	9
△ Cash received from interest, fee and commission	10
△ Net increase of placements from banks and
other financial institutions	11
△ Net increase of repurchase business	12
Tax refunds received	13	60,336,528.27	72,226,291.66
Cash from other operating activities	14	1,956,997,796.39	130,204,839.31
Sub-total of cash inflows from operating
activities	15	6,481,379,560.73	3,628,570,585.78

- 11 -

		Amount for	Amount for
Items	Line	last period	this period
Cash paid for purchase of goods and
engagement of labour services	16	4,172,045,498.64	4,028,603,644.09
△ Net increase of customer loans and advances	17
△ Net increase of deposits in central banks and
other banks	18
△ Cash paid for the compensation under the
original insurance contract	19
△ Cash paid for interest, fee and commission	20
△ Cash paid for policy bonus	21
Cash paid to and for employees	22	265,302,099.87	234,683,916.75
Tax payments	23	357,763,574.64	338,418,460.42
Cash used in other operating activities	24	1,807,800,869.43	106,517,992.36
Sub-total of cash outflows from operating
activities	25	6,602,912,042.58	4,708,224,013.62
Net cash flow generated from operating
activities	26	-121,532,481.85	-1,079,653,427.84
II. Cash flows generated from investing activities:	27	-		-
Cash received from disposal of investment	28	-14,606,630.56
Cash from investment gains	29	29,076,556.53
Net cash inflow on disposal of fixed assets,
intangible assets and other long-term assets
Net cash inflow on disposal of subsidiaries and
other operational units	30	34,255.00	10,697.00
Cash generated from other investing activities	31
Sub-total of cash inflows from investing
activities	32			19,336,738.03

- 12 -

		Amount for	Amount for
Items	Line	last period	this period
Cash paid for acquisition of fixed assets,
intangible assets and other long-term assets	33	14,504,180.97	19,347,435.03
Cash paid for investments	34	559,324,861.47	449,463,068.37
△ Net increase of policy loans	35
Net cash paid for acquisition of subsidiaries and
other operational units	36
Cash paid for other investing activities	37
Sub-total of cash outflows from investing
activities	38			50,000.00
Net cash flow generated from investing
activities	39	559,324,861.47	449,513,068.37
III. Cash flow generated from financing activities:
40	-544,820,680.50		-430,165,633.34
Cash received from investors	41	-	-
Including: Cash received from absorbing
minority shareholders'
investment by subsidiaries	42	12,924,939.17
Cash received from obtaining borrowings	43
△ Cash received from issuing bonds	44	2,768,619,698.95	4,377,272,369.94
Cash received from other financing activities	45
Sub-total of cash inflows from financing
activities	46

- 13 -

		Amount for	Amount for
Items	Line	last period	this period
Cash paid for repayment of debt	47	2,781,544,638.12		4,377,272,369.94
Cash paid for distribution of dividends, profit
or payment of interests	48	2,112,944,207.67	3,316,991,282.94
Including: Dividend and profit of minority
shareholders paid by subsidiaries	49	256,521,997.36	262,737,928.15
Cash paid for other financing activities	50			5,355,000.00
Sub-total of cash outflows from financing
activities	51
Net cash flow generated from financing
activities	52	2,369,466,205.03	3,579,729,211.09
IV. Effect of fluctuations in exchange rate on cash
and cash equivalents	53	412,078,433.09	797,543,158.85
V. Net increase in cash and cash equivalents	54	5,433,066.53	213,320.49
Add: Balance of cash and cash equivalents at
the beginning of the period	55	-248,841,662.73	-712,062,581.84
VI. Balance of cash and cash equivalent at the end
of the period	56	1,666,080,023.74	1,712,724,032.11
	57	1,417,238,361.01		1,000,661,450.27

- 14 -

BALANCE SHEET
			Unit of amount: RMB
		Balance at	Balance at
		the beginning of	the end of
Items	Line	the year	the period
Current assets:	1	-	-
Cash	2	1,340,987,660.39	801,907,968.35
△Settlement reserves	3

• Placements with banks and other financial

institutions	4
☆Financial assets held for trading	5
Financial assets at fair value through profit or
loss	6
Derivative financial assets	7
Bills receivable	8	238,950,607.27		391,198,690.11
Trade receivables	9	4,052,653,848.60		5,048,835,682.20
Including: Electricity charges receivable	10
Heat charges receivable	11
Prepayments	12	108,852,372.38		222,815,500.32
△Premium receivables	13
△Receivables from reinsurers	14
△Deposits receivable from reinsurance	15
Other receivables	16	533,460,190.63		487,504,159.25
△Financial assets held under resale agreements	17
Inventory	18	46,399,364.04		61,733,012.91
Including: Raw materials	19	46,399,364.04		61,733,012.81
Fuel	20
Stock inventory (finished products)	21
☆Contract assets	22	464,646,818.83		278,213,333.60
Held-for-sale assets	23
Non-current assets due within one year	24
Other current assets	25	258,214,110.20		413,058,409.01
Total current assets	26	7,044,164,972.34		7,705,266,755.75

- 15 -

		Balance at	Balance at
		the beginning of	the end of
Items	Line	the year	the period
Non-current assets:	27	-	-
△Loans and advances granted	28
☆Debt investment	29
Financial assets available for sale	30
☆Other debt investment	31
Held-to-maturity investment	32
Long-term receivables	33
Long-term equity investment	34	687,809,994.76		687,809,994.76
☆Other equity instrument investment	35	7,171,495.00		7,171,495.00
☆Other non-current financial assets	36
Funds to branches	37
Investment properties	38
Fixed assets	39	5,129,151,948.71		4,701,792,731.51
Construction in progress	40	1,151,729,149.14		1,339,266,670.86
Productive biological assets	41
Oil and gas assets	42
Intangible assets	43	19,123,798.43		17,327,558.69
Development costs	44	83,508,707.71		90,056,243.88
Goodwill	45
Long-term deferred expenses	46	270,628,132.51		432,405,617.26
Deferred income tax assets	47	7,377,006.14		7,317,741.54
Other non-current assets	48	28,424,362.37
Including: Physical assets reserve specifically
authorized	49
Total non-current assets
50	7,384,924,594.77		7,283,148,053.50
Total assets
51	14,429,089,567.11		14,988,414,809.25

- 16 -

		Balance at	Balance at
		the beginning of	the end of
Items	Line	the year	the period
Current liabilities:	52	-	-
Short-term borrowings	53	1,192,000,000.00	2,340,000,000.00
△Borrowings from central bank	54
△Absorbing deposit and interbank deposit	55

• Placements from banks and other financial

institutions	56
☆Financial liabilities held for trading	57
Financial liabilities at fair value through
profit or loss	58
Derivative financial liabilities	59
Bills payable	60	77,735,770.96	37,787,220.84
Trade payables	61	2,420,545,706.40	2,214,196,752.96
Advances received	62
☆Contract liabilities	63	172,415,113.77	290,232,647.13
Inter office account	64		80,689.36
△Amount from sales of repurchased financial
assets	65
△Handling charge and commissions payable	66
Staff remuneration payable	67		200,741.74
Including: Salary payable	68
Benefits payable	69
Including: Employee bonus and welfare fund	70
Tax charge payable	71	56,731,607.68	28,879,891.53
Including: Tax payable	72	55,078,968.20	27,533,588.18
Other payables	73	899,883,963.44	656,875,022.97
△Payables to reinsurers	74
△Deposits for insurance contracts	75

• Client money received for acting as securities

trading agent

76

• Client money received for acting as securities

underwriter	77
Held-for-sale liabilities	78
Non-current liabilities due within one year	79	484,811,463.49		526,677,941.06
Other current liabilities	80
Total current liabilities
81	5,304,123,625.74		6,094,930,907.59

- 17 -

		Balance at	Balance at
		the beginning of	the end of
Items	Line	the year	the period
Non-current liabilities:	82	-	-
Long-term borrowings	83	2,199,097,289.00		2,087,729,328.36
Debentures payable	84
Including: Preferred shares	85
Perpetual bonds	86
Long-term payables	87
Long-term employee remuneration payable	88
Accrued liabilities	89
Deferred income	90	18,800,336.39		17,694,662.87
Fund appropriated by the parent company	91
Including: Unified-borrowing and
unified-lending	92
Deferred income tax liabilities	93
Other non-current liabilities	94
Including: Special reserve fund	95
Total non-current liabilities
96	2,217,897,625.39		2,105,423,991.23
Total liabilities
97	7,522,021,251.13		8,200,354,898.82

- 18 -

		Balance at	Balance at
		the beginning of	the end of
Items	Line	the year	the period
Owners' equity (or shareholders' equity):	98	-	-
Paid-in capital (share capital)	99	2,967,542,000.00	2,967,542,000.00
Government capital	100	2,356,580,000.00	2,356,580,000.00
Including: State-owned legal person's
capital	101	2,356,580,000.00	2,356,580,000.00
Collective capital	102
Private capital	103
Including: Personal capital	104
Foreign capital	105	610,962,000.00	610,962,000.00
Less: Investment returned	106
Net paid-in capital (or share capital)	107	2,967,542,000.00	2,967,542,000.00
Other equity instruments	108
Including: Preference shares	109
Perpetual bonds	110
Capital reserves	111	1,299,411,843.55	1,299,411,843.55
Less: Treasury stock	112
Other comprehensive income	113	1,845,770.75	1,845,770.75
Including: Foreign currency translation
differences	114
Special reserve	115
Surplus reserves	116	350,103,353.44	350,103,353.44
Including: Statutory reserves	117	350,103,353.44	350,103,353.44
Discretionary reserve	118
Reserve funds	119
Enterprise development fun	120
Profit return for investment	121
△Provision for general risk	122
Unallocated profits	123	2,288,165,348.24	2,169,156,942.69
Total equity attributable to the parent's
owners (or shareholders)	124	6,907,068,315.98	6,788,059,910.43
Minority interests	125
Total owners' equity (or shareholders' equity) 126
6,907,068,315.98		6,788,059,910.43
Total liabilities and owners' equity (or
shareholders' equity)	127	14,429,089,567.11		14,988,414,809.25

- 19 -

INCOME STATEMENT
					Unit of amount: RMB
				Amount for	Amount for	Amount for
Items			Line	this month	this year	last year
I.	Total Operating Revenue	1	337,458,086.45	2,908,927,849.78	3,257,784,249.72
		Including: Operating revenue	2	337,458,086.45	2,908,927,849.78	3,257,784,249.72
		Including: Revenue from principal business	3	336,388,602.77	2,898,528,239.38	3,245,775,191.90
		Including: (1) Electricity sales revenue	4
		(2) Thermal sales revenue	5
		(3) Others	6	336,388,602.77	2,898,528,239.38	3,245,775,191.90
	△	Other business income	7	1,069,483.68	10,399,610.40	12,009,057.82
	Interest income	8
	△	Premium earned	9
	△ Handling fee and commission income	10
II.	Total Operating Cost	11	279,792,278.16	2,738,291,615.43	2,762,222,801.21
		Including: Operating cost	12	242,324,852.58	2,288,089,886.07	2,563,195,746.27
		Including: Cost of principal business	13	240,262,256.60	2,276,985,446.48	2,557,918,473.28
		Including: (1) Electricity sales cost	14
		(2) Thermal sales cost	15
		(3) Others	16	240,262,256.60	2,276,985,446.48	2,557,918,473.28
	△	Other business cost	17	2,062,595.98	11,104,439.59	5,277,272.99
	Interest expenses	18
	△ Handling fee and commission expenses	19
	△	Surrender value	20
	△ Net cash in compensation	21
	△ Net provisions for insurance contract	22
	△	Policy payment expense	23
	△	Reinsurance expenses	24
		Taxes and surcharges	25	2,803,892.69	14,882,852.47	17,061,287.12
		Sales expenses	26	696,301.21	5,369,947.00	6,800,265.19
		Administration expenses	27	19,116,258.26	189,792,312.02	87,137,552.53
		Party Construction expenses	28	14,268.41	36,983.94
		Research and development expenses	29	1,373,311.79	7,059,740.19
		Financial expenses	30	13,477,661.63	126,443,579.30	90,582,532.44
		Including: Interest expenses	31	14,857,396.89	125,465,968.98	106,993,746.47
		Interest income	32	1,498,576.06	5,663,847.86	4,487,721.63
		Net exchange gains	33
		Net exchange losses	34	9,946.75	-199,098.72	-12,924,939.17
		Asset impairment losses	35		106,653,298.38	-2,554,582.34
		☆Credit impairment loss	36

- 20 -

		Amount for	Amount for	Amount for
Items	Line	this month	this year	last year
Others	37
Add: Other income	38	13,731,952.47	66,721,540.78	66,198,068.63
Investment income (Losses marked with "-")	39	271,147.72	10,861,156.06	25,691,656.23
Including: Income from investment in
associates and joint ventures	40			25,691,656.23
△ Exchange gains (Losses marked with "-")	41

• Gains on net exposure hedges (Losses marked

with "-")	42
Gains from change in fair value (Losses marked
with "-")	43
Gains from disposal of assets (Losses marked
with "-")	44
III. Operating profit (Loss marked with "-")	45	71,668,908.48	248,218,931.19	587,451,173.37
Add: Non-operating income	46	25,257.92	423,942.50	580,453.92
Government grants	47	18,867.92	18,867.92	462,865.92
Gains from debt restructuring	48
Less: Non-operating expenses	49		1,264.58	163,708.39
Loss for debt restructuring	50
IV. Total profit (Total loss marked with "-")	51	71,694,166.40	248,641,609.11	587,867,918.90
Less: Income tax expenses	52	-5,534,602.86	41,220,394.66	91,816,175.02
V. Net profit (Net loss marked with "-")	53	77,228,769.26	207,421,214.45	496,051,743.88
(I) Items classified according to ownership:	54	-	-	-
Net profit attributable to the owners of parent
company	55	77,228,769.26	207,421,214.45	496,051,743.88
Minority interests	56
(II) Items classified by continuing operations:	57	-	-	-
Net profit from continuing operation	58	77,228,769.26	207,421,214.45	496,051,743.88
Net profit from discontinued operation	59

- 21 -

			Amount for	Amount for	Amount for
Items		Line	this month	this year	last year
VI. Net other comprehensive income after tax	60
Net other comprehensive income after tax attributable
to the owners of parent company	61
(I) Other comprehensive income that cannot be
	reclassified to profit or loss in subsequent
	periods	62
1.	Changes arising from the remeasurement of
	defined benefit plans	63
2.	Other comprehensive income under equity
	method that cannot be reclassified into
☆3.	profit or loss	64
Changes in fair value of investment in other
☆4.	equity instruments	65
Changes in fair value of the Company's own
	credit risk	66
5.	Others	67
(II) Other comprehensive income that will be
reclassified to profit or loss	68

1. Other comprehensive income that can be reclassified into profit or loss under equity

☆ 2.	method	69
Changes in fair value of other debt
	investments	70
3.	Gains and losses from changes in fair value
☆ 4.	of available-for-sale financial assets	71
Amount of financial assets reclassified into
	other comprehensive income	72

5. Gains and losses from held-to-maturity investment reclassified as available-for-

☆		sale financial assets	73
6.	Credit impairment provisions for other debt
		investment	74
	7.	Reserves for cash flows hedges (effective
		part of hedging gains and losses from cash
		flows)	75
	8.	Exchange differences from retranslation of
		financial statements	76
	9.	Others	77
*	Net other comprehensive income after tax
		attributable to minority shareholders	78

- 22 -

			Amount for	Amount for	Amount for
Items		Line	this month	this year	last year
VII. Total comprehensive income	79	77,228,769.26	207,421,214.45	496,051,743.88
Total comprehensive income attributable to the
	owners of parent company	80	77,228,769.26	207,421,214.45	496,051,743.88
*	Total comprehensive income attributable to
	minority shareholders	81
VIII. Earnings per share:	82	-	-	-
Basic earnings per share	83
Diluted earnings per share	84

- 23 -

CASH FLOWS STATEMENT
			Unit of amount: RMB
Items		Amount for		Amount for
	Line	last period		this period
I. Cash flows generated from operating
activities:	1	-		-
Cash from sales of goods and provision of
labour services	2	2,681,361,554.12	1,764,171,682.02
△Net increase in customer deposits and
interbank deposits	3
△Net increase in borrowings from central
bank	4
△Net increase in borrowings from other
financial institutions	5
△Cash received from premium of original
insurance contract	6
△Net cash inflow from reinsurance business	7
△Net increase in deposit of the insured and
investment	8
△Net increase in disposal of financial assets
at fair value through profit or loss	9
△Cash received from interest, fee and
commission	10
△Net increase of placements from banks
and other financial institutions	11
△Net increase of repurchase business	12
Tax refunds received	13	60,288,843.27	66,128,883.40
Cash from other operating activities	14	1,545,606,212.33	81,474,051.15
Sub-total of cash inflows from
operating activities	15	4,287,256,609.72		1,911,774,616.57

- 24 -

Items		Amount for
	Line	last period
Cash paid for purchase of goods and
engagement of labour services	16	2,512,505,427.40
△Net increase of customer loans and
advances	17

• Net increase of deposits in central banks

and other banks

18

• Cash paid for the compensation under the

original insurance contract

19

• Cash paid for interest, fee and commission 20

△Cash paid for policy bonus	21
Cash paid to and for employees	22	166,159,734.74
Tax payments	23	277,123,532.47
Cash used in other operating activities	24	1,416,049,616.73
Sub-total of cash outflows from operating
activities	25	4,371,838,311.34
Net cash flow generated from operating
activities	26	-84,581,701.62
II. Cash flows generated from investing
activities:	27	-
Cash received from disposal of investment	28
Cash from investment gains	29	29,076,556.53
Net cash inflow on disposal of fixed
assets, intangible assets and other long-
term assets	30	34,255.00
Net cash inflow on disposal of
subsidiaries and other operational units	31
Cash generated from other investing
activities	32
Sub-total of cash inflows from investing
activities	33	29,110,811.53

Amount for this period

2,336,470,239.57

171,677,703.00

252,241,167.58

2,550,841.98

2,762,939,952.13

-851,165,335.56

-

9,945,000.00

9,945,000.00

- 25 -

Items		Amount for		Amount for
	Line	last period		this period
Cash paid for acquisition of fixed assets,
intangible assets and other long-term
assets	34	468,703,986.28	447,849,689.06
Cash paid for investments	35	102,582,630.56	78,500,000.00
△Net increase of policy loans	36
Net cash paid for acquisition of
subsidiaries and other operational units	37
Cash paid for other investing activities	38
Sub-total of cash outflows from
investing activities	39	571,286,616.84	526,349,689.06
Net cash flow generated from investing
activities	40	-542,175,805.31	-516,404,689.06
III. Cash flow generated from financing
activities:	41	-		-
Cash received from investors	42	12,924,939.17
Including: Cash received from absorbing
minority shareholders'
investment by subsidiaries	43
Cash received from obtaining borrowings	44	2,552,274,031.19	4,099,384,182.42
△Cash received from issuing bonds	45
Cash received from other financing
activities	46
Sub-total of cash inflows from financing
activities	47	2,565,198,970.36	4,099,384,182.42
Cash paid for repayment of debt	48	1,871,611,207.67	3,058,885,665.49
Cash paid for distribution of dividends,
profit or payment of interests	49	191,313,524.81	212,207,283.07
Including: Dividend and profit of
minority shareholders paid
by subsidiaries	50
Cash paid for other financing activities	51
Sub-total of cash outflows from
financing activities	52	2,062,924,732.48	3,271,092,948.56
Net cash flow generated from financing
activities	53	502,274,237.88		828,291,233.86

- 26 -

Items		Amount for	Amount for
	Line	last period	this period
IV. Effect of fluctuations in exchange rate on
cash and cash equivalents	54		199,098.72
V. Net increase in cash and cash equivalents	55	-124,483,269.05	-539,079,692.04
Add: Balance of cash and cash equivalents
at the beginning of the period	56	1,172,154,711.91	1,340,987,660.39
VI. Balance of cash and cash equivalent at the
end of the period	57	1,047,671,442.86	801,907,968.35

- 27 -