DATANG INTERNATIONAL POWER GENERATION CO., LTD.

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Datang International Power Generation : OVERSEAS REGULATORY ANNOUNCEMENT ANNOUNCEMENT ON RESOLUTIONS OF THE SUPERVISORY COMMITTEE

03/26/2021 | 08:37am EDT

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.

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

(Stock Code: 00991)

OVERSEAS REGULATORY ANNOUNCEMENT

ANNOUNCEMENT ON RESOLUTIONS OF

THE SUPERVISORY COMMITTEE

This announcement is made pursuant to Rule 13.10(B) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The twelfth meeting of the tenth session of the supervisory committee of Datang International Power Generation Co., Ltd. ("Datang International" or the "Company") was convened at 11:00 a.m. on Friday, 26 March 2021. A written notice convening the meeting was issued on 12 March 2021. 4 supervisors were eligible for attending the meeting and 3 supervisors attended the meeting in person.

Zhang Xiaoxu (Supervisor) was unable to attend the meeting due to work engagement, and has authorised Liu Quancheng (Supervisor) to attend and vote at the meeting on his behalf. The meeting was convened in compliance with the provisions under the Company Law of the People's Republic of China and the Articles of Association of Datang International Power Generation Co., Ltd. (the "Articles of Association"), and was lawful and valid. The following resolutions were approved unanimously at the meeting:

  • I. THE "WORK REPORT OF THE SUPERVISORY COMMITTEE FOR THE YEAR 2020" WAS CONSIDERED AND APPROVED

    Voting results: 4 voted in favour, 0 voted against and 0 abstained

    The Work Report of the Supervisory Committee for the Year 2020 was approved, and was approved to be submitted to the 2020 annual general meeting for consideration.

  • II. THE "RESOLUTION ON THE FINANCIAL REPORT FOR THE YEAR 2020" WAS CONSIDERED AND APPROVED

    Voting results: 4 voted in favour, 0 voted against and 0 abstained

    The financial report for the year 2020 was approved.

  • III. THE "RESOLUTION ON PROVISIONS FOR ASSET IMPAIRMENT, RETIREMENT AND WRITE-OFF OF ASSETS OF CERTAIN AFFILIATED ENTERPRISES" WAS CONSIDERED AND APPROVED

    Voting results: 4 voted in favour, 0 voted against and 0 abstained

    • 1. The provisions for assets impairment, retirement and write-off of assets of certain affiliated enterprises of the Company in compliance with the provisions of the Accounting Standards for Business Enterprises and the relevant financial accounting policies of the Company were approved. The combined effect of the foregoing matters resulted in a decrease in the total profit of Datang International for 2020 by approximately RMB662 million and a decrease in net profit attributable to the parent company by approximately RMB612 million.

    • 2. The provisions for assets impairment, retirement and write-off of assets made by the Company in accordance with the provisions of the Accounting Standards for Business Enterprises and the relevant financial policies of the Company were in line with the actual conditions of the Company and provide an objective and fair presentation of the assets condition and operating results of the Company as at 31 December 2020. The decision-making procedure of the board of directors of the Company in relation to such resolution complied with the requirements under the relevant laws and regulations.

  • IV. THE "RESOLUTION ON THE SPECIAL REPORT REGARDING DEPOSIT AND

    ACTUAL USE OF PROCEEDS FOR THE YEAR 2020" WAS CONSIDERED AND

    APPROVED

    Voting results: 4 voted in favour, 0 voted against and 0 abstained

    The deposit and actual use of proceeds for the year 2020 of the Company were in compliance with the provisions of the "Administrative Measures for Raising Proceeds by Companies Listed on the Shanghai Stock Exchange" ( 上海證券交易所上市公司募集資金管理辦法》) and relevant laws and regulations. There was no violation of the management and use of the proceeds.

  • V. THE "RESOLUTION ON THE EVALUATION REPORT ON INTERNAL CONTROL

    AND THE AUDIT REPORT OF THE COMPANY FOR THE YEAR 2020" WAS

    CONSIDERED AND APPROVED

    Voting results: 4 voted in favour, 0 voted against and 0 abstained

    1. The evaluation work of the internal control of the Company was in compliance with the

"Basic Standards of Corporate Internal Control" and other relevant requirements, and the Company has practically complied with the basic principles of internal control. The supervisory committee was of the view that the Company has built the sound internalcontrol mechanism and internal control system; the Company actively carried out risk assessment and internal control evaluation, and at the benchmark date of the Evaluation

Report on Internal Control, no material defects or important defects of internal control were found in the financial report nor in the non-financial report.

  • 2. The "Evaluation Report on Internal Control for the Year 2020" of the Company truthfully and objectively reflected the conditions on the establishment and operation of the internal control of the Company.

  • 3. The evaluation report on internal control and audit report for the year 2020 were approved for publication.

  • VI. THE "RESOLUTION ON THE PROFIT DISTRIBUTION PROPOSAL FOR THE YEAR 2020" WAS CONSIDERED AND APPROVED

    Voting results: 4 voted in favour, 0 voted against and 0 abstained

    The dividend distribution of RMB0.091 (tax inclusive) per share in cash on the basis of the total number of shares registered as at the record date for declaration of dividend distribution, with a total amount of cash dividend of approximately RMB1,684 million, was approved.

  • VII. THE "RESOLUTION ON THE EXPLANATION ON THE PUBLICATION OF ANNUAL REPORT FOR THE YEAR 2020" WAS CONSIDERED AND APPROVED

    Voting results: 4 voted in favour, 0 voted against and 0 abstained

    • 1. The preparation and consideration procedures for the 2020 annual report, the summary of the annual report and the annual results announcement (collectively, "Annual Report") were in compliance with the provisions under laws, regulations, the Articles of Association and various internal administrative policies of the Company.

    • 2. The Annual Report was in compliance with various provisions stipulated by the China Securities Regulatory Commission and the stock exchanges of the listing places, and the information contained therein fully and truly reflected the operating results and financial position of the Company for the current year.

    • 3. No individual was found in violation of confidentiality requirement in the preparation and consideration of the Annual Report.

4. The 2020 annual report, the summary of the annual report and the annual results announcement were approved for publication.

By order of the Board

Jiang Jinming Company Secretary

Beijing, the PRC, 26 March 2021

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

Chen Feihu, Qu Bo, Liang Yongpan, Ying Xuejun, Zhu Shaowen, Cao Xin, Zhao Xianguo, Jin Shengxiang, Sun Yongxing, Liu Jizhen*, Luo Zhongwei*, Liu Huangsong*, Jiang Fuxiu*, Niu Dongxiao*

* Independent non-executive directors

Disclaimer

DTP - Datang International Power Generation Co. Ltd. published this content on 26 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 March 2021 13:36:02 UTC.


© Publicnow 2021
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Sales 2022 109 B 16 233 M 16 233 M
Net income 2022 - - -
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P/E ratio 2022 6,78x
Yield 2022 13,6%
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Number of Analysts 1
Last Close Price 1,13 CNY
Average target price 1,45 CNY
Spread / Average Target 28,1%
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Managers and Directors
Yong Pan Liang Chairman & General Manager
Tong Liang Wang Member-Supervisory Board & Director-Legal Risk
Ji Zhen Liu Independent Non-Executive Director
Dong Xiao Niu Independent Non-Executive Director
Wen Long Zong Independent Non-Executive Director