RNS Number:0733Y
Zhejiang Southeast Elec Power Co Ld
28 April 2004

             Zhejiang Southeast Electric Power Company Limited

                Announcement on First Quarterly Results for 2004



I. Share Name Abbreviation: ZSEPC B Share
   Share Code: 900949



II. Main Accounting Figures and Financial Indicators


                                           In Current       From Year Beginning  Increase/Decrease
                                           Reporting Period to End of Current    Compared with the Same
                                                            Reporting Period     Period of Previous Year
Earnings per Share (RMB yuan/share)             0.111                0.111                    42.31%



III. Statement of Profit

                                               Unit: RMB yuan  Unaudited
Item                              Amount of Current Period         Amount of Same Period of Previous
                                                                   Year
                                  Consolidated      Parent Company      Consolidated     Parent Company
1. Principal operating        1,292,311,711.76    1,038,865,213.30    904,087,305.00     780,906,734.38
income
Less: Principal operating       857,219,009.73      673,408,298.30    603,658,400.80     508,791,530.15
costs
Principal operating tax          13,697,720.70       11,310,346.70     10,359,714.47       9,038,430.50
and surtax
2. Principal operating          421,394,981.33      354,146,568.30    290,069,189.73     263,076,773.73
profit (loss denoted by "-")
Add: Profit from other              648,173.14          648,173.14        -18,311.67         -18,311.67
activities
(loss denoted by "-")
Less: Operating expenses                     -                   -                 -                  -
Administrative expenses          63,189,917.01       57,460,348.57     36,553,342.21      32,086,898.55
Financial expenses                9,223,467.00       -5,479,691.39     13,085,140.46       5,917,795.59
3.Operating profit              349,629,770.46      302,814,084.26    240,412,395.39     225,053,767.92
(loss denoted by "-")
Add: Return on investment                    -       20,057,103.48                 -       8,742,149.28
(loss denoted by "-")
Subsidy income                               -                   -                 -                  -
Non-operating income                 53,014.00           53,014.00        360,520.68         360,520.68
Less: Non-operating                 764,673.70            4,334.20        673,452.02         549,567.00
expenses
4.Gross profit                  348,918,110.76      322,919,867.54    240,099,464.05     233,606,870.88
(loss denoted by "-")
Less: Income tax                115,142,976.55       99,944,712.14     80,341,246.84      77,090,267.39
Less: Minority                   10,799,978.81                   -      3,241,613.72                  -
shareholders' gains and
losses
5.Net profit                    222,975,155.40      222,975,155.40    156,516,603.49     156,516,603.49
(loss denoted by "-")



IV. The Management's Discussion and Analysis



In this reporting period, the electricity sales completed by the Company went up
by 39.12% to 3.709 billion kwh compared with that in the same period of the
previous year based on the consolidated financial statements. The electricity
sales increase resulted from (a) the Company's effort to organize production
with care and make full use of its generating capacity within the safety limits
in response to the surging power demand in Zhejiang province; and (b) the
addition of a newly commissioned 300 MW unit of Zhejiang Changxing Power
Generating Company Limited, a subsidiary controlled by the Company.



In this reporting period, the actual average settlement tariff rate of the
Company based on the consolidated financial statements increased by RMB 9.31
yuan/MWh to RMB 348.44 yuan/MWh compared with that in the same period of the
previous year. The rise in power sales tariff was due to the fact that (a) the
power tariff applicable to the Company was raised by RMB 7 yuan/MWh (including
tax) effective from 1 January 2004 in accordance with Document Zhe Jia Shang
(2003)445 entitled Notice on Adjustment to Power Tariff of Coal-Fired Power
Plants Under ZPEPC's Unified Dispatch issued by Zhejiang Provincial Pricing
Bureau; and that (b) all the electricity sales of the Company were settled at
the contractual price starting from July 2003 as the price bidding in Zhejiang
power market was suspended, whereas approximately 20% of the electricity sales
over the same period of the previous year were settled at the market price.



Due to the synergy of the increase in energy sales and the rise in power tariff,
the principal operating income, the principal operating profit and the net
profit of the Company grew by 42.94%, 45.27% and 42.46% to RMB 1,292 million
yuan, 421 million yuan and 223 million yuan respectively compared with those in
the same period of the previous year.





Board of Directors

Zhejiang Southeast Electric Power Company Limited

28 April 2004




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

QRFFGGZDFRNGDZG
Barclays 27 (LSE:BQ36)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024 Click aqui para mais gráficos Barclays 27.
Barclays 27 (LSE:BQ36)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024 Click aqui para mais gráficos Barclays 27.