Edgar Filing: HUANENG POWER INTERNATIONAL INC

form6-k.htm

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

The Securities Exchange Act of 1934

For the month of October 2014

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

Form 20-F X Form 40-F _____

(Indicate by check mark whether the registrant by furnishing the information contained in this form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. )

Yes ____No X

(If "Yes" is marked, indicate below the file number assigned to registrant in connection with Rule 12g3-2(b): 82-__________. )

N/A

Huaneng Power International, Inc.

Huaneng Building,

6 Fuxingmennei Street,

Xicheng District,

Beijing, 100031 PRC

This Form 6-K consists of:

1. An announcement regarding 2014 third quarterly report of Huaneng Power International, Inc. (the “Registrant”); and

2. An announcement regarding resolutions passed at the board meeting of the Registrant;

Each made by the Registrant on October 22, 2014.

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.

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

(Stock Code: 902)

THIRD QUARTERLY REPORT OF 2014

Pursuant to the regulations of the China Securities Regulatory Commission, 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).

1.	IMPORTANT NOTICE

1.1

The board of directors and the supervisory committee of Huaneng Power International, Inc. (the “Company”, “Huaneng Power 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.

1.2

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

1.3

Mr. Cao Peixi (Chairman), Ms. Zhou Hui (person in charge of accounting function) and Mr. Li Yinghui (person in charge of the Accounting Department) warrant the truthfulness, accuracy and completeness of the content of the third quarterly report of 2014.

1.4

2	COMPANY PROFILE

2.1

Major financial information and financial indicators (PRC GAAP) (unaudited)

(Amounts: In RMB Yuan)

	End of current reporting period		End of last year		Variance from end of last year
					(%)

Total Assets		261,839,336,095		260,274,853,102		0.60
Owners’ equity (Shareholders’ equity) attributable to shareholders of the Company		66,794,158,448		61,747,779,816		8.17
Net assets per share attributable to shareholders of the Company		4.75		4.39		8.20

	From the beginning of the year to the end of current reporting period		Variance from equivalent period of last year
			(%)

Net cash flows generated from operating activities		24,066,446,441		(24.34	)
Net cash flows generated from operating activities per share		1.71		(24.34	)

	Current reporting period		From the beginning of the year to the end of current reporting period		Variance from equivalent period of last year
					(%)

Net profit attributable to shareholders of the Company		3,293,174,051		9,995,549,682		0.03
Basic earnings per share		0.23		0.71		–
Basic earnings per share after deducting non-recurring items		0.23		0.71		(17.86	)
Diluted earnings per share		0.23		0.71		–
Return on net assets (weighted average) (%)		5.05		15.32	Decrease by 0.60 percentage points
Return on net assets after deducting non-recurring items (weighted average) (%)		4.96		15.37	Decrease by 1.84 percentage points

Deducting 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

Losses from disposal of non-current assets		(301,041,540	)
Government grant recorded in income statement, excluding government grant closely related to the Company’s business and calculated according to national unified standards		741,000,855
Losses from the changes in fair value from held-for-trading financial assets, held-for-trading financial liabilities other than those hedging instruments relating to normal business, and investment income from disposal of held-for-trading financial assets, held-for-trading financial liabilities and available-for-sale financial assets		(6,217,244	)
Reversal of provision for doubtful accounts receivable individually tested for impairments		1,236,459
Other non-operating income and expenses excluding the above items		(89,620,076	)
Other non-recurring items		(291,024,952	)
Tax impact of non-recurring items		(89,632,363	)
Impact of non-controlling interests, net of tax		5,943,313


Total		(29,355,548	)

2.2

Total number of shareholders, shareholding of ten largest holders of shares and shareholding of top ten holders who are not subject to any selling restrictions

Unit: share

Total number of shareholders

95,259 (including 94,704 holders of A shares, 435 holders of H shares, 120 holders of ADRs)

Top ten holders of shares

Name (in full) of shareholders	Increase/decrease during the reporting period	Number of shares held at end of reporting period	Percentage (%)	Number of shares held with selling restriction	Status on charges or pledges etc.		Nature of shareholders
Name (in full) of shareholders	Increase/decrease during the reporting period	Number of shares held at end of reporting period	Percentage (%)	Number of shares held with selling restriction	Status of shares	Number	Nature of shareholders
Huaneng International Power Development Corporation	0	5,066,662,118	36.05	0	Nil	–	State-owned entity
HKSCC Nominees Limited	–23,536,020	2,885,396,837	20.53	0	Nil	–	Foreign entity
*China Huaneng Group	0	1,561,371,213	11.11	0	Nil	–	State-owned entity
Hebei Construction & Investment Group Co., Ltd.	0	603,000,000	4.29	0	Nil	–	State-owned entity
China Hua Neng Group Hong Kong Limited	0	472,000,000	3.36	0	Nil	–	Foreign entity
Jiangsu Provincial Investment & Management Limited Liability Company	0	416,500,000	2.96	0	Nil	–	State-owned entity
Liaoning Energy Investment (Group) Limited Liability Company	–1,249,586	388,619,936	2.76	0	Nil	–	State-owned entity
Fujian Investment Development Group Liability Company	0	374,467,500	2.66	0	Nil	–	State-owned entity
Dalian Municipal Construction Investment Company Limited	0	301,500,000	2.15	0	Charges	265,750,000	State-owned entity
HSBC Nominees (Hong Kong) Limited	46,491,920	200,379,760	1.43	0	Nil	–	Foreign entity

Top ten holders of shares in circulation without any selling restrictions

Name (in full) of shareholders	Number of shares in circulation without any selling restrictions as at the end of the reporting period	Type and number of shares
Name (in full) of shareholders		Type	Number
Huaneng International Power Development Corporation	5,066,662,118	RMB denominated ordinary shares	5,066,662,118
HKSCC Nominees Limited	2,885,396,837	Overseas listed foreign invested shares	2,885,396,837
*China Huaneng Group	1,561,371,213	RMB denominated ordinary shares	1,561,371,213
Hebei Construction & Investment Group Co., Ltd.	603,000,000	RMB denominated ordinary shares	603,000,000
China Hua Neng Group Hong Kong Limited	472,000,000	Overseas listed foreign invested shares	472,000,000
Jiangsu Provincial Investment & Management Limited Liability Company	416,500,000	RMB denominated ordinary shares	416,500,000
Liaoning Energy Investment (Group) Limited Liability Company	388,619,936	RMB denominated ordinary shares	388,619,936
Fujian Investment Development Group Limited Liability Company	374,467,500	RMB denominated ordinary shares	374,467,500
Dalian Municipal Construction Investment Company Limited	301,500,000	RMB denominated ordinary shares	301,500,000
HSBC Nominees (Hong Kong) Limited	200,379,760	Overseas listed foreign invested shares	200,379,760
Details relating to the connected relationship of the above shareholders or the parties acting in concert	Among the above shareholders, China Huaneng Group, 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 connected relationship among other shareholders.

The total number of shares held by China Huaneng Group includes the 6,246,664 shares held by Huaneng Capital Services Company Limited.

3	SIGNIFICANT EVENTS

3.1

Disclosure as to, and reasons for, material changes in accounting items and financial indices of the Company

R Applicable £ Not applicable

Comparing the consolidated balance sheet of 30 September 2014 and 31 December 2013, the consolidated income statement for the nine months ended 30 September 2014 and 2013 and the consolidated cash flow statement for the nine months ended 30 September 2014 and 2013, the items with material changes are as below:

Consolidated balance sheet items

Amounts: In RMB Yuan

Items	30 September 2014			31 December 2013		Variance			%
Advances to suppliers (1)		1,140,073,477			434,952,980		705,120,497			162.11
Assets held for sale (2)		–			557,670,940		(557,670,940	)		(100.00	)
Deferred income tax assets (3)		1,023,927,571			762,560,872		261,366,699			34.27
Derivative financial liabilities (4)		186,455,593			43,591,308		142,864,285			327.74
Notes payable (5)		645,376,910			103,385,199		541,991,711			524.24
Accounts payable (6)		7,620,857,022			12,174,486,464		(4,553,629,442	)		(37.40	)
Taxes payable (7)		(173,073,727	)		409,847,260		(582,920,987	)		(142.23	)
Dividends payable (8)		968,254,413			166,270,103		801,984,310			482.34
Liabilities held for sale (9)		–			51,172,277		(51,172,277	)		(100.00	)
Long-term payables (10)		1,091,469,408			208,820,395		882,649,013			422.68

Consolidated income statement items

Amounts: In RMB Yuan

Items	For the nine months ended 30 September 2014		For the nine months ended 30 September 2013			Variance			%
Asset impairment loss (1)		410,763,244		647,804,984			(237,041,740	)		(36.59	)
Investment income (2)		1,237,301,963		697,055,665			540,246,298			77.50
Other comprehensive income/(loss) (3)		327,179,539		(345,097,681	)		672,277,220			(194.81	)

Consolidated cash flow statement items

Amounts: In RMB Yuan

Items		For the nine months ended 30 September 2014				For the nine months ended 30 September 2013				Variance				%
Net cash flows used in financing activities (1)			(12,306,125,898	)			(19,978,062,448	)			7,671,936,550				(38.40	)

Fluctuation analysis of the consolidated balance sheet items

(1)

Advances to suppliers as at the end of the period increased by 162.11% compared with the beginning of the period, mainly due to the rise in advance payments to suppliers.

(2)

Assets held for sale as at the end of the period decreased by 100% compared with the beginning of the period, mainly due to the disposal of Huaneng (Fuzhou) Luoyuanwan Pier Co., Ltd. and Huaneng Luoyuan Ludao Pier Co., Ltd. in early 2014.

(3)

Deferred income tax assets as at the end of the period increased by 34.27% compared with the beginning of the period, mainly because of intercompany asset transactions among the Company and its subsidiaries.

(4)

Derivative financial liabilities as at the end of the period increased 327.74% compared with the beginning of the period, mainly due to the decline in the fair value of fuel oil swaps held by its subsidiary, SinoSing Power Pte. Ltd..

(5)

Notes payable as at the end of the period increased by 524.24% compared with the beginning of the period, mainly due to the rise in note payments in equipment procurements and coal purchases among the Company and its subsidiaries.

(6)

Accounts payable as at the end of the period decreased by 37.40% compared with the beginning of the period, mainly due to rise in payable settlement of fuel purchases.

(7)

Taxes payable as at the end of the period decreased by 142.23% compared with the beginning of the period, mainly due to the rise in amount of deductible input value-added tax.

(8)

Dividends payable as at the end of the period increased by 482.34% compared with the beginning of the period, due to the dividends declared by the Company’s subsidiaries for 2013.

(9)

Liabilities held for sale as at the end of the period decreased by 100% compared with the beginning of the period, due to the disposal of Huaneng (Fuzhou) Luoyuanwan Pier Co., Ltd. and Huaneng Luoyuan Ludao Pier Co., Ltd. in early 2014.

(10)

Long-term payables as at the end of the period increased by 422.68% compared with the beginning of the period, mainly due to financial leasing transactions of the Company’s subsidiaries.

Fluctuation analysis of the consolidated income statement items

(1)

Asset impairment loss decreased by 36.59% compared with the same period of last year, mainly due to the less amount of provision for fixed asset recognized in 2014.

(2)

Investment income increased by 77.50% compared with the same period of last year, mainly due to the rise in returns from the Company’s associates and joint ventures.

(3)

Other comprehensive income increased by 194.81% compared with the same period of last year, mainly due to the increased amount of foreign exchange gains.

Fluctuation analysis of the consolidated cash flow statement items

(1)

Net cash flows used in financing activities decreased by 38.40% compared with the same period of last year, mainly due to the decrease in net cash flows generated from operating activities.

3.2

Status of performance of undertakings given by the Company, shareholders and de facto controller

R Applicable £ Not applicable

Background

Type (s) of Undertakings

Covenantor

Details of the Undertaking

Time and duration of undertaking

Expiration period

Has the implementation been timely performed

Undertaking relevant to the initial public issuance

To resolve business competition

Huaneng International Power Development Corporation (“HIPDC”)

In disposing of power plant(s) by HIPDC, the Company has a right of first refusal in whether to acquire such power plant(s). In developing coal-fired power plants having capacity of more than 300 MW, the Company will be the only developer under the terms and conditions of the relevant restructuring agreement. With respect to power plants having capacity that fall below 300 MW or other power plants, unless the Company indicates in writing that it has no intention to develop, otherwise the development right should belong to the Company. HIPDC at the same time indicates that with regard to the power development business it engages within China, it will not compete with the Company’s business.

This undertaking shall be subsisting and being performed

Yes

To resolve business competition

China Huaneng Group

The Company has a right of first refusal in the power assets, equity interest and power development projects to be transferred by Huaneng Group

This undertaking shall be subsisting and being performed

Yes

Other undertaking

To resolve business competition

China Huaneng Group

For further avoidance of business competition with Huaneng Power International, Huaneng Group on 17 September 2010 further undertook to Huaneng Power International that it shall treat Huaneng Power International as the only platform for integrating the conventional energy business of Huaneng Group; with respect to the conventional energy business assets of Huaneng Group located in Shandong Province, Huaneng Group undertook that it would take approximately 5 years to improve the profitability of such assets and when the terms become appropriate, it would inject those assets into Huaneng Power International. Huaneng Power International has a right of first refusal to acquire from Huaneng Group the newly developed, acquired or invested projects which are engaged in the conventional energy business of Huaneng Group located in Shandong Province; with respect to the other non-listed conventional energy business assets of Huaneng Group located in other provincial administrative regions, Huaneng Group undertakes that it would take approximately 5 years and upon such assets meeting the conditions for listing, it would inject such assets into Huaneng Power International in order to support the sustainable, stable development of Huaneng Power International; Huaneng Group would continue to perform each of its undertakings to support the development of its subordinated listed companies.

Time of undertaking: 17 September 2010. Duration of undertaking: 5 years

Yes

–

Background

Type (s) of Undertakings

Covenantor

Details of the Undertaking

Time and duration of undertaking

Expiration period

Has the implementation been timely performed

Other undertaking

To resolve business competition

China Huaneng Group

In order to support the business of Huaneng Power International, Huaneng Group provided non-compete undertakings to Huaneng Power International at times of its initial public offerings within the PRC and overseas. With respect to the non-public placement of shares in 2010 by Huaneng Power International, Huaneng Group provided an Undertaking on Relevant Matters for Further Avoidance of Business Competition by Huaneng Group with Huaneng Power International, Inc. on 17 September 2010 (“Non-Compete Undertakings). To further define the implementation terms and in conjunction with the requirements under Guidance Note No.4 relating to Supervision of Listed Companies – undertakings and implementation of the listed companies’ de facto controllers, shareholders, related parties, acquirer and listed companies and the actual circumstances, Huaneng Group will refine and regulate the aforesaid Non-Compete Undertakings in terms set out below:

1. it shall treat Huaneng Power International as the only platform for integrating the conventional energy business of Huaneng Group;

Term of undertaking: 28 June 2014 to 31 December 2016

Yes

–

2. with respect to the conventional energy business assets of Huaneng Group located in Shandong Province, Huaneng Group undertakes that it will improve the profitability of such assets and inject those assets which meet the conditions for listed company (the title(s) of assets or shareholding interest(s) is/are clearly defined, such assets will not lower the earnings per share of Huaneng Power International after injection, with no material breaches or violation of laws and regulations, preservation of the value of state-owned asset(s), renunciation of the pre-emptive rights of existing shareholders) into Huaneng Power International by end of 2016. Huaneng Power International has a right of first refusal to acquire from Huaneng Group the newly developed, acquired or invested projects which are engaged in the conventional energy business of Huaneng Group located in Shandong Province.

Background

Type (s) of Undertakings

Covenantor

Details of the Undertaking

Time and duration of undertaking

Expiration period

Has the implementation been timely performed

3. with respect to the other non-listed conventional energy business assets of Huaneng Group located in other provincial administrative regions, Huaneng Group undertakes that it will inject such assets which meet the conditions for listed company (the title(s) of assets or shareholding interest(s) is/are clearly defined, such assets will not lower the earnings per share of Huaneng Power International after injection, with no material breaches or violation of laws and regulations, preservation of the value of state-owned asset(s), renunciation of the pre-emptive rights of existing shareholders) into Huaneng Power International by end of 2016 in order to support the sustainable, stable development of Huaneng Power International.

4. Huaneng Group will continue to perform each of its undertakings to support the development of its subordinated listed companies.

3.3

Effects of the Implementation of New Accounting Policies on the Consolidated Financial Statements

The Company has implemented in advance the newly promulgated or revised enterprise accounting policies in its 2013 annual financial report and 2014 interim financial report.

	By Order of the Board
	Huaneng Power International, Inc.
	Cao Peixi
	Chairman

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

Cao Peixi (Executive Director)

Guo Junming (Non-executive Director)

Liu Guoyue (Executive Director)

Li Shiqi (Non-executive Director)

Huang Jian (Non-executive Director)

Fan Xiaxia (Executive Director)

Mi Dabin (Non-executive Director)

Guo Hongbo (Non-executive Director)

Xu Zujian (Non-executive Director)

Li Song (Non-executive Director)

Li Zhensheng (Independent Non-executive Director)

Qi Yudong (Independent Non-executive Director)

Zhang Shouwen (Independent Non-executive Director)

Yue Heng (Independent Non-executive Director)

Zhang Lizi (Independent Non-executive Director)

Beijing, the PRC

22 October 2014

APPENDIX

HUANENG POWER INTERNATIONAL,INC.

UNAUDITED CONSOLIDATED AND THE COMPANY BALANCE SHEETS (PRC GAAP)

AS AT 30 SEPTEMBER, 2014

Amounts: In RMB Yuan

	30 September 2014		31 December 2013		30 September 2014		31 December 2013
ASSETS	Consolidated		Consolidated		The Company		The Company

CURRENT ASSETS
Cash		9,380,936,158		9,433,385,354		3,832,333,802		5,219,423,798
Derivative financial assets		84,545,820		91,727,309		–		–
Notes receivable		739,746,516		755,331,124		141,500,000		208,981,764
Accounts receivable		10,645,507,670		14,806,790,255		4,512,544,992		6,350,771,102
Advances to suppliers		1,140,073,477		434,952,980		431,490,083		276,731,166
Interest receivable		87,132		69,592		118,585,784		168,345,255
Dividends receivable		150,000,000		150,000,000		1,774,550,614		392,727,646
Other receivables		951,338,048		793,638,460		4,164,150,878		1,228,722,367
Inventories		6,740,811,822		6,469,025,605		2,537,951,039		2,323,872,715
Current portion of non-current assets		14,206,004		13,842,239		–		700,000,000
Other current assets		47,166,554		17,291,588		22,027,846,210		26,262,022,146
Assets held for sale		–		557,670,940		–		750,531,685


Total current assets		29,894,419,201		33,523,725,446		39,540,953,402		43,882,129,644

NON-CURRENT ASSETS
Available-for-sale financial assets	3,569,936,715	3,162,992,310	3,557,823,915	3,150,879,510
Derivative financial assets	13,045,158	14,244,607	–	–
Long-term receivables	724,084,600	726,213,773	–	–
Long-term equity investment	17,354,447,006	16,416,725,742	56,995,443,660	52,457,435,983
Fixed assets	159,482,089,727	160,926,056,252	54,737,935,645	61,588,072,661
Fixed assets pending for disposal	61,327,892	58,603,045	109,659	102,844
Construction-in-progress	23,326,870,890	18,877,532,566	5,042,023,588	4,154,777,417
Construction materials	2,984,178,569	2,678,280,448	628,597,991	1,142,109,312
Intangible assets	10,293,718,309	10,350,136,456	1,726,056,724	1,772,896,201
Goodwill	12,199,639,412	12,180,956,875	–	–
Long-term deferred expenses	166,121,045	150,244,710	12,079,141	17,477,362
Deferred income tax assets	1,023,927,571	762,560,872	265,363,809	476,673,767
Other non-current assets	745,530,000	446,580,000	4,492,630,000	1,796,833,000


Total non-current assets	231,944,916,894	226,751,127,656	127,458,064,132	126,557,258,057



TOTAL ASSETS	261,839,336,095	260,274,853,102	166,999,017,534	170,439,387,701

	30 September 2014			31 December 2013		30 September 2014		31 December 2013
	Consolidated			Consolidated		The Company		The Company

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES
Short-term loans		40,610,956,947			37,937,046,246		30,550,000,000		31,490,000,000
Derivative financial liabilities		186,455,593			43,591,308		–		–
Notes payable		645,376,910			103,385,199		–		–
Accounts payable		7,620,857,022			12,174,486,464		2,854,238,195		5,952,032,169
Advances from customers		93,296,105			147,799,211		8,601,259		102,233,815
Salary and welfare payables		218,121,347			188,837,308		79,488,448		68,776,172
Taxes payable		(173,073,727	)		409,847,260		274,929,278		661,649,662
Interest payables		1,115,666,378			1,047,409,617		1,010,755,626		856,647,312
Dividends payable		968,254,413			166,270,103		–		–
Other payables		10,107,251,239			10,677,357,133		2,455,467,659		3,540,908,441
Current portion of non–current liabilities		13,269,002,127			18,487,606,360		9,759,501,255		14,346,426,508
Provision		201,275,640			182,188,394		–		–
Other current liabilities		15,647,852,480			15,565,626,305		15,549,335,830		15,321,796,645
Liabilities held for sale		–			51,172,277		–		–


Total current liabilities		90,511,292,474			97,182,623,185		62,542,317,550		72,340,470,724


NON-CURRENT LIABILITIES
Long-term loans		61,501,379,033			60,513,671,227		17,185,955,837		16,604,712,061
Derivative financial liabilities		351,278,126			383,405,105		97,154,367		116,568,417
Bonds payable		23,671,918,989			23,726,550,054		23,671,918,989		23,726,550,054
Long-term payables		1,091,469,408			208,820,395		–		–
Specific accounts payable		47,604,100			51,468,800		30,439,282		30,247,242

Deferred income tax liabilities		1,791,216,562			1,788,922,254		–		–
Other non-current liabilities		2,331,325,322			2,374,773,512		1,938,994,262		2,045,488,560


Total non-current liabilities		90,786,191,540			89,047,611,347		42,924,462,737		42,523,566,334



TOTAL LIABILITIES		181,297,484,014			186,230,234,532		105,466,780,287		114,864,037,058

	30 September 2014			31 December 2013			30 September 2014		31 December 2013
	Consolidated			Consolidated			The Company		The Company

LIABILITIES AND SHAREHOLDERS’ EQUITY (CONTINUED)

SHAREHOLDERS’ EQUITY
Share capital		14,055,383,440			14,055,383,440			14,055,383,440		14,055,383,440
Capital surplus		16,937,463,671			16,662,521,932			15,318,870,058		14,977,282,627
Special reserves		63,539,688			45,806,369			60,819,499		41,568,392
Surplus reserves		7,131,699,685			7,131,699,685			7,131,699,685		7,131,699,685
Undistributed profits		29,322,957,351			24,669,611,329			24,965,464,565		19,369,416,499
Currency translation differences		(716,885,387	)		(817,242,939	)		–		–


Shareholders’ equity attributable to shareholders of the Company		66,794,158,448			61,747,779,816			61,532,237,247		55,575,350,643
Non-controlling interests		13,747,693,633			12,296,838,754			—		—


Total shareholders’ equity		80,541,852,081			74,044,618,570			61,532,237,247		55,575,350,643



TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		261,839,336,095			260,274,853,102			166,999,017,534		170,439,387,701

Legal representative:		Person in charge of accounting function:		Person in charge of accounting department:
Cao Peixi		Zhou Hui		Li Yinghui

HUANENG POWER INTERNATIONAL, INC.

UNAUDITED CONSOLIDATED AND THE COMPANY INCOME STATEMENTS

(PRC GAAP)

FOR THIRD QUARTER ENDED 30 SEPTEMBER, 2014

Amounts: In RMB Yuan, Except Per Share Data

	For the quarter ended 30 September, 2014			For the quarter ended 30 September, 2013			For the quarter ended 30 September, 2014		For the quarter ended 30 September, 2013
	Consolidated			Consolidated			The Company		The Company

Operating revenue		30,021,976,140			35,175,588,506			13,396,849,078		16,461,744,965
Less: Operating cost		22,285,002,686			26,063,024,439			9,341,841,230		11,310,677,936
Tax and levies on operations		220,546,853			287,737,229			118,317,276		165,902,210
Selling expenses		906,322			1,299,719			–		–
General and administrative expenses		869,776,775			889,401,152			529,323,967		533,740,901
Financial expenses		1,854,297,213			1,887,291,693			1,293,914,331		1,240,120,313
Asset impairment loss		16,582			585,548,417			–		721,561,400
Add: Loss on fair value changes of financial assets/liabilities		(4,544,111	)		(8,393,845	)		–		–
Investment income		455,085,864			205,695,994			2,269,631,676		2,129,366,125
Including: Investment income from associates and joint ventures		392,471,204			171,793,337			290,580,247		171,627,995


Operating profit		5,241,971,462			5,658,588,006			4,383,083,950		4,619,108,330
Add: Non-operating income		131,282,991			115,208,932			79,033,986		47,113,612
Less: Non-operating expenses		65,305,023			193,392,341			48,719,215		26,154,766
Including: loss on disposals of non-current assets		51,996			106,255,228			44,147		315,549


Profit before tax		5,307,949,430			5,580,404,597			4,413,398,721		4,640,067,176
Less: Income tax expense		1,290,934,363			1,537,906,494			623,259,931		1,371,230,809


Net profit		4,017,015,067			4,042,498,103			3,790,138,790		3,268,836,367


Attributable to:
Shareholders of the Company		3,293,174,051			3,292,052,522			3,790,138,790		3,268,836,367
Non-controlling interests		723,841,016			750,445,581			—		—
Earnings per share (based on the net profit attributable to shareholders of the Company) (expressed in RMB per share)
– Basic earnings per share		0.23			0.23			—		—
– Diluted earnings per share		0.23			0.23			—		—

Other comprehensive (loss)/income		(75,870,251	)		3,415,348			353,338,932		(54,256,359	)

For the quarter ended 30 September, 2014

For the quarter ended 30 September, 2013

For the quarter ended 30 September, 2014

For the quarter ended 30 September, 2013

Consolidated

The Company


Total comprehensive income	3,941,144,816	4,045,913,451	4,143,477,722	3,214,580,008


Attributable to:
Shareholders of the Company	3,217,590,559	3,295,547,028	4,143,477,722	3,214,580,008
Non-controlling interests	723,554,257	750,366,423	—	—

Legal representative:	Person in charge of accounting function:	Person in charge of accounting department:
Cao Peixi	Zhou Hui	Li Yinghui

HUANENG POWER INTERNATIONAL, INC.

UNAUDITED CONSOLIDATED AND THE COMPANY INCOME STATEMENTS

(PRC GAAP)

FOR THE NINE MONTHS ENDED 30 SEPTEMBER, 2014

Amounts: In RMB Yuan, Except Per Share Data

	For the nine months ended 30 September, 2014			For the nine months ended 30 September, 2013			For the nine months ended 30 September, 2014		For the nine months ended 30 September, 2013
	Consolidated			Consolidated			The Company		The Company

Operating revenue		94,627,497,267			99,237,917,261			41,220,357,562		44,553,403,974
Less: Operating cost		70,397,820,685			75,385,539,500			28,754,366,842		31,611,449,385
Tax and levies on operations		709,459,593			808,989,895			390,487,683		441,207,608
Selling expenses		3,220,774			7,787,724			–		–
General and administrative expenses		2,404,392,581			2,386,932,199			1,493,891,061		1,446,201,037
Financial expenses		5,551,512,893			5,666,362,714			3,888,858,760		3,703,700,590
Asset impairment loss		410,763,244			647,804,984			120,028,667		749,558,699
Add: Loss on fair value changes of financial assets/liabilities		(424,753	)		(966,894	)		–		–
Investment income		1,237,301,963			697,055,665			4,758,133,851		4,545,202,592
Including: Investment income from associates and joint ventures		1,116,846,760			477,577,271			868,790,813		477,330,662

For the nine months ended 30 September, 2014

For the nine months ended 30 September, 2013

For the nine months ended 30 September, 2014

For the nine months ended 30 September, 2013

Consolidated

The Company

Operating profit	16,387,204,707	15,030,589,016		11,330,858,400	11,146,489,247
Add: Non-operating income	784,957,276	316,288,947		2,707,830,323	166,412,029
Less: Non-operating expenses	434,618,036	354,699,825		267,098,199	130,949,718
Including: loss on disposals of non-current assets	314,868,912	227,997,563		201,014,558	85,208,930


Profit before tax	16,737,543,947	14,992,178,138		13,771,590,524	11,181,951,558
Less: Income tax expense	4,397,537,664	3,842,504,213		2,835,099,981	2,717,307,849


Net profit	12,340,006,283	11,149,673,925		10,936,490,543	8,464,643,709


Attributable to:
Shareholders of the Company	9,995,549,682	9,186,673,504		10,936,490,543	8,464,643,709
Non-controlling interests	2,344,456,601	1,963,000,421		—	—
Earnings per share (based on the net profit attributable to shareholders of the Company) (expressed in RMB per share)
– Basic earnings per share	0.71	0.65		—	—
– Diluted earnings per share	0.71	0.65		—	—

Other comprehensive income/(loss)	327,179,539	(345,097,681	)	341,587,431	(28,038,870	)


Total comprehensive income	12,667,185,822	10,804,576,244		11,278,077,974	8,436,604,839


Attributable to:
Shareholders of the Company	10,322,656,865	8,842,290,586		11,278,077,974	8,436,604,839
Non-controlling interests	2,344,528,957	1,962,285,658		—	—

Legal representative:		Person in charge of accounting function:		Person in charge of accounting department:
Cao Peixi		Zhou Hui		Li Yinghui

HUANENG POWER INTERNATIONAL, INC.

UNAUDITED CONSOLIDATED AND THE COMPANY CASH FLOW STATEMENTS

(PRC GAAP)

FOR THE NINE MONTHS ENDED 30 SEPTEMBER, 2014

Amounts: In RMB Yuan

	For the nine months ended 30 September, 2014		For the nine months ended 30 September, 2013		For the nine months ended 30 September, 2014		For the nine months ended 30 September, 2013
Items	Consolidated		Consolidated		The Company		The Company

Cash flows generated from operating activities
Cash received from sales of goods and services rendered		108,561,940,268		113,244,411,604		50,052,674,635		52,234,348,979
Cash received from return of taxes and fees		62,418,643		65,067,982		605,200		–
Other cash received relating to operating activities		710,557,647		485,748,957		549,415,264		137,007,564


Sub-total of cash inflows of operating activities		109,334,916,558		113,795,228,543		50,602,695,099		52,371,356,543


Cash paid for goods and services received		68,253,044,661		66,050,708,096		31,449,568,280		29,223,826,436
Cash paid to and on behalf of employees including salary, social welfare, education funds and others in such manner		4,059,929,614		3,795,622,627		2,179,664,203		2,078,326,673
Payments of taxes		11,682,430,866		10,842,008,389		6,348,737,646		5,542,354,571
Other cash paid relating to operating activities		1,273,064,976		1,297,978,144		998,873,843		603,048,278


Sub-total of cash outflows of operating activities		85,268,470,117		81,986,317,256		40,976,843,972		37,447,555,958



Net cash flows generated from operating activities		24,066,446,441		31,808,911,287		9,625,851,127		14,923,800,585

For the nine months ended 30 September, 2014

For the nine months ended 30 September, 2013

For the nine months ended 30 September, 2014

For the nine months ended 30 September, 2013

Items

Consolidated

The Company

Cash flows generated from investing activities
Cash received from withdrawal of investment	384,702,400		104,436,685		2,632,655,400	–
Cash received on investment income	391,515,183		362,332,697		2,704,101,502	3,253,547,283
Net cash received from disposals of fixed assets, intangible assets and other long-term assets	40,033,868		153,361,698		5,510,718,860	11,192,523
Cash received for disposal of subsidiaries and other operating units	503,809,240		6,199,460		538,297,600	10,267,600
Other cash received relating to investing activities	54,152,447		223,345,475		–	–


Sub-total of cash inflows of investing activities	1,374,213,138		849,676,015		11,385,773,362	3,275,007,406


Cash paid for acquiring fixed assets, intangible assets and other long-term assets	13,156,789,603		10,621,909,919		4,340,947,051	3,434,040,513
Cash paid for investments	219,144,000		2,109,761,652		4,085,486,360	3,965,794,034
Net cash paid for acquiring subsidiaries and other operating units	18,000,000		41,650,478		–	–
Other cash paid relating to investing activities	16,825,708		8,955,258		–	–


Sub-total of cash outflows of investing activities	13,410,759,311		12,782,277,307		8,426,433,411	7,399,834,547



Net cash flows (used in)/generated from investing activities	(12,036,546,173	)	(11,932,601,292	)	2,959,339,951	(4,124,827,141	)

For the nine months ended 30 September, 2014

For the nine months ended 30 September, 2013

For the nine months ended 30 September, 2014

For the nine months ended 30 September, 2013

Items

Consolidated

The Company

Cash flows generated from financing activities
Cash received from investments	139,302,800		755,759,500		–		–
Including: cash received from non-controlling interests of subsidiaries	139,302,800		755,759,500		—		—
Cash received from borrowings	48,289,230,998		31,346,864,139		33,918,921,827		25,180,484,600
Cash received from issuance of bonds and short-term bonds	13,965,000,000		21,455,000,000		13,965,000,000		21,455,000,000
Other cash received relating to financing activities	1,279,419,323		112,121,520		33,759,324		94,251,720


Sub-total of cash inflows of financing activities	63,672,953,121		53,669,745,159		47,917,681,151		46,729,736,320


Repayments of borrowings	64,288,543,109		63,901,811,202		52,980,439,192		50,925,114,315
Payments for dividends, profit or interest expense	11,655,895,757		9,082,833,609		8,867,122,730		6,187,181,355
Including: dividends paid to non-controlling interests of subsidiaries	373,268,882		386,971,937		—		—
Other cash paid relating to financing activities	34,640,153		663,162,796		31,500,000		660,015,916


Sub-total of cash outflows of financing activities	75,979,079,019		73,647,807,607		61,879,061,922		57,772,311,586



Net cash flows used in financing activities	(12,306,125,898	)	(19,978,062,448	)	(13,961,380,771	)	(11,042,575,266	)


Effect of exchange rate fluctuations on cash held	14,233,098		(93,163,357	)	(22,960	)	19,810,560


Net decrease in cash	(261,992,532	)	(194,915,810	)	(1,376,212,653	)	(223,791,262	)
Add: cash at beginning of period	9,341,672,995		10,505,387,385		5,196,600,915		4,541,235,391


Cash at end of period	9,079,680,463		10,310,471,575		3,820,388,262		4,317,444,129

Legal representative:		Person in charge of accounting function:		Person in charge of accounting department:
Cao Peixi		Zhou Hui		Li Yinghui

Hong Kong Exchange 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.

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

(Stock Code: 902)

RESOLUTIONS PASSED AT

THE THIRD MEETING OF THE EIGHTH SESSION

OF THE BOARD OF DIRECTORS

This announcement is made by Huaneng Power International, Inc. (the “Company”) pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

On 21 October 2014, the board of directors of the Company convened the third meeting of the eighth session (the “Meeting”) by way of written resolutions. Written notice and supplemental notice of the Meeting were issued on 30 September 2014 and 17 October 2014, respectively. The convening of the Meeting was in compliance with the relevant provisions of the Company Law of the People’s Republic of China and the Company's articles of association. The following resolutions were approved unanimously at the Meeting:

1. Resolution regarding the implementation of the new accounting principles promulgated by the Ministry of Finance in 2014.

It was resolved that the Company agreed to adjust the comparative data of the Company's financial statements according to the Accounting Standard for Business Enterprises No. 2 - Long-term Equity Investments, i.e. the equity interests held by the Company in Shanxi Xishan Jinxing Energy Co., Ltd., Ganzhou-Longyan Railway Co., Ltd. and China Taiyuan Coal Transaction Center would no longer be recognized as long-term equity investment, but instead would be recognized as available-for-sale financial assets. The presentation in the comparative financial statements would be restated accordingly. After such restatement, as at 31 December 2013, the available-for-sale financial assets in the consolidated balance sheet would increase by RMB 1.535 billion, and the long-term equity investment would decrease by RMB 1.535 billion. Other rules of the New Accounting Standard for Business Enterprises would not significantly impact on the Company’s financial statements.

2. Resoluted to approve the 2014 third quarterly financial statements of the Company.

3. Resoluted to approve the 2014 third quarterly report of the Company.

4. Resoluted to approve the diversity policy of the board of directors of the Company.

Pursuant to the relevant provisions of the laws of the place in which the Company’s shares are listed, the independent directors of the Company approved the resolution in item one above and issued an opinion of the independent directors.

By Order of the Board

Huaneng Power International, Inc.

Du Daming

Company Secretary

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

Cao Peixi (Executive Director)

Guo Junming (Non-executive Director)

Liu Guoyue (Executive Director)

Li Shiqi (Non-executive Director)

Huang Jian (Non-executive Director)

Fan Xiaxia (Executive Director)

Mi Dabin (Non-executive Director)

Guo Hongbo (Non-executive Director)

Xu Zujian (Non-executive Director)

Li Song (Non-executive Director)

Li Zhensheng (Independent Non-executive Director)

Qi Yudong (Independent Non-executive Director)

Zhang Shouwen (Independent Non-executive Director)

Yue Heng (Independent Non-executive Director)

Zhang Lizi (Independent Non-executive Director)

Beijing, the PRC

22 October 2014

SIGNATURE

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 under-signed, thereunto duly authorized.

	HUANENG POWER INTERNATIONAL, INC.


	By /s/ Du Daming




	Name:	Du Daming

	Title:	Company Secretary

Date: October 22, 2014