2004 SHANGHAI ELECTRIC POWER COMPANY LIMITED
2 3 6 7 8 16 23 32 1
2004 2
SHANGHAI ELECTRIC POWER COMPANY LIMITED SEP 600021 1888 200122 430 15 200025 www.shanghaipower.com sepco@shanghaipower.com 430 15 200025 021 64720799 64720000 021 64723798 sepco@shanghaipower.com http://www.sse.com.cn 430 1998 6 12 2003 11 12 156,350.50 1888 3100001005356 310048631188775 27 A 12 8 20 3
20% 2004 6 30 2003 12 31 % 2,015,813,180.77 1,991,731,158.14 1.21 3,142,739,566.92 2,832,012,669.25 10.97 11,906,387,176.85 10,825,467,067.71 9.98 ( )( ) 6,026,867,319.93 6,096,735,623.04-1.15 / 3.8547 3.8994-1.15 / 3.8525 3.8957-1.11 2004 1-6 2003 1-6 % 229,377,125.01 263,221,192.20-12.86 217,810,844.35 295,733,692.63-26.35 / 0.1467 0.1989-26.24 % 3.81 5.72-33.39 467,593,487.38 1,177,409,708.62-60.29 : : -114,577.98 17,396,698.26 30,444.68-5,746,284.30 11,566,280.66 4
9 % / 7.45 7.23 0.2871 0.2871 4.23 4.11 0.1631 0.1631 3.81 3.69 0.1467 0.1467 3.61 3.51 0.1393 0.1393 5
88213 % 0 1009455000 64.56 0 314050000 20.09 4049964 4049964 0.26 2409899 2409899 0.154 1789000 1789000 0.114 1616922 1616922 0.103 ING BANK N.V. 979957 979957 0.063 800000 800000 0.051 710000 710000 0.045 696600 696600 0.044 2 8 A B H 4049964 A 2409899 A 1789000 A 1616922 A ING BANK N.V. 979957 A 800000 A 710000 A 696600 A 557100 A 180 510900 A 6
7
1 90.29 1.39% 1.28 / 276,987 229,654 17.09% 22,938 0.1467, 3.81% 1 2004 1-6 2003 1-6 % 378.05 333.15 44.90 13.48 66.06 39.36 26.70 67.84 17.42-17.42-75.63 70.52 5.11 7.25 218.94 223.27-4.33-1.94 90.29 91.56-1.27-1.39 13.48% 49.23 44.90 4.33 1.27 2 2004 1-6 8
% 2004 2003 2003 2002 1 8.66 10.65 5.26-0.47 0.20-2.04 2 9.07 12.83 3.17-1.81-2.06-0.24 3 9.96 13.08 4.95-0.78-0.03-1.18 4 16.51 22.41 4.45 0.06 0.45-0.35 5 23.27 26.47 17.37-1.75-1.07-2.34 6 25.35 31.22 17.25-0.29 0.96-1.24 1-6 15.71 19.46 8.48-0.81-0.22-1.62 15.71% 3.26% 8.48% 0.87% 19.46% 3.68% 2003 026 < > 2004 1 1 0.007 / 2004 5 25 2004 007 2004 6 1 5.67 / 22% 2004 6 14 2004 009 2004 6 15 5500 376 / 222.30 / 260 / 9
/ 317.19 376.00 4773 5500 222.30 260.00 336.73 376.00 5200 5500 222.30 260.00 400.92 376.00 222.30 260.00 5318 5500 545.20 376.00 222.30 260.00 401.90 376.00 5172 5500 222.30 260.00 379.30 377.00 4817 5500 222.30 260.00 1-6 15 2004 6 15 2004 6 1 6 15 3 2004 5 25 2004 007 2004 6 1 5.67 / 22% 2 2004 1-6 2003 1-6 % 2,769,869,268.14 2,729,056,432.51 1.50 2,296,536,841.41 2,096,298,933.22 9.55 448,923,584.45 605,716,750.36-25.89 10
229,377,125.01 263,221,192.20-12.86-413,474,147.64 905,347,360.55-145.67 1 1.39% 2004 1 1 0.007 / 4,081 2 15.71% 3.26% 22,500 2,691 3 4 5 3 10% 10% (%) (%) 2,605,441,187.61 2,041,033,803.70 21.66 1.16 8.65-19.96 1,234,843,958.91 11
4 5 6 10% 49% 11,480 50.04% 200,000 2004 1-6 23,429 7 1 2 2004 007 2004 6 1 5.67 / 22% 3 12
4 2003 7 1 0.20 2004 7 1 0.40 2005 7 1 2002* 2003 7 1 2004 7 1 0.2 /0.2 /0.4 / 0.63 / COD 0.7 /0.7 /0.7 / 0.7 /0.7 /0.7 / 0.6 /0.6 /0.6 / 2002 0.20 2004 7 1 0.40 0.63 / 2004 2003 3,600 1 2 2003 10 14 135,338.88 118,714 135,338.88 20,074.48 106,054.88 13
66,460.00 66,460.00-20.74 28,764.00 22,520.00 0 23,490.00 450.00 0 118,714.00 89,430.00 16,624.88 1 2 90 2004 4 20 2 2 30-110 2004 8 2005 9 2005 12 3 2 39 2005 9 2005 12 3 29,284 4 5 50% 48,500 2004 4 16 50% 2004 2003 14
2004 7 8 [2004]597 15
2003 2003 2003 12 31 1,563,505,000 10 0.16 2004 6 15 2004 6 18 6 21 6 25 50% 48,500 2004 4 16 50% 2004 2003 2004 7 8 [2004]597 1 1 16
2004 1-6 2003 % % 1,460,038,187.82 97.48 2,528,063,951.43 87.19 2 2004 1-6 6,000,000.00 57.14 2003 % % 10,250,000.00 4,500,000.00 42.86 12,000,000.00 53.93 2 3 46.07 2003-12-19 86,256.00 2003/12/19-720.00 66,067.57 66,067.57 10.96% 4 1 34,284,164.09 8,999,627.79 2 1 2 17
2003 7 8 2005 1 7 6.039% 60,000.00 600,000,000.00 2004 6 30 17,651,241.01 3 4 5 5 : 50,000,000.00 50,000,000.00 50,000,000.00 50,000,000.00 : 1 2004 6 15 2000 027 2004 6 15 18
2004 009 2004 6 30 2 1 208,100 % 2003.7.30-2004.7.30 20034042007 30,000 3.717 2004.2.17-2005.2.16 509612302004002 10,000 4.779 2004.5.26-2004.11.25 509612302004007 20,000 4.536 2004.6.30-2004.12.29 509612302004008 7,000 4.536 2004.4.27-2004.10.26 20040317 5,000 3.528 2004.5.27-2004.11.27 1451000180 13,000 4.536 2004.6.30-2004.12.29 1451000183 17,000 4.536 2004.6.28-2004.12.27 01041100122 25,000 4.536 2004.6.7-2004.12.7 21030502 7,000 4.536 2003.8.18-2004.8.17 501123003019 10,000 4.779 2004.1.17-2004.7.17 1156000105 2,000 4.536 2004.2.11-2004.8.10 20040024 3,900 4.536 2004.2.10-2004.8.10 1608040011 3,000 4.536 2004.3.15-2005.3.14 2004030150059 6,000 4.779 2004.6.18-2004.12.17 501123004012 25,000 4.536 2004.1.16-2004.7.15 501123004001 2,000 4.536 2004.2.17-2005.2.16 11040202 4,300 4.779 2004.1.16-2005.1.15 00229 1,000 4.779 2004.2.19-2005.2.18 20004033 3,900 4.779 * 2003.12.1-2004.11.30 01032200306 10,000 4.779 * 2004.4.9-2005.4.8 01042200055 25,000 4.779 * 2004.2.10-2005.2.9 01041100015 25,000 4.779 * 2004.3.2-2005.3.1 D212004024021 5,000 4.779 * 65,000 20% 13,000 2 103,431.78 1994 11 18 19
1997 5 20 1999 8 1.08 25 1993 11 16 2018 5 30 20 1998 11 30 2018 5 30 37,767.30 60 40 65,664.48 3 60,000 60,000 5,000 5,000 60,000 60,000 5,000 5,000 3 3 4 5% 2003 2004 20
[2003]56 66,067.57 60,000 1 2004 1 30 2004 www.sse.com.cn 600021 2 2004 4 16 2003 2003 www.sse.com.cn 3 2004 4 26 2004 4 2004 5 11 A 21
www.sse.com.cn 5 2004 5 15 2003 2003 www.sse.com.cn 6 2004 5 25 2003 www.sse.com.cn 7 2004 5 31 www.sse.com.cn 8 2004 6 15 2003 www.sse.com.cn 9 2004 6 30 www.sse.com.cn 22
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2004-06-30 2003-12-31 1 786,924,220.57 585,493,709.96 1,200,398,368.21 766,086,470.05 2 50,000,000.00 3 26,285,955.72 26,285,955.72 26,827,704.89 26,827,704.89 4 651,734,798.48 423,834,187.34 537,841,401.96 363,410,385.65 1 5 27,251,678.62 14,953,221.06 29,532,049.30 29,446,261.60 2 6 279,863,127.95 232,618,596.31 24,266,845.68 12,750,756.31 7 193,620,979.43 101,882,356.49 169,700,334.04 95,480,596.65 3,032,034.06 3,032,034.06 8 132,420.00 120,870.00 132,420.00 120,870.00 3 2,015,813,180.77 1,385,188,896.88 1,991,731,158.14 1,297,155,079.21 : 9 1,402,454,462.39 3,671,982,838.89 1,847,892,894.24 3,381,553,516.22 4 9 600,000,000.00 600,000,000.00 600,000,000.00 600,000,000.00 2,002,454,462.39 4,271,982,838.89 2,447,892,894.24 3,981,553,516.22 29,937,612.97 10,586,193.92 : 10 14,036,303,128.97 7,111,077,686.47 12,973,918,476.63 7,064,566,088.05 10 7,768,978,663.70 4,618,077,695.95 7,332,767,472.95 4,425,612,210.02 6,267,324,465.27 2,492,999,990.52 5,641,151,003.68 2,638,953,878.03 : 10 212,185.54 212,185.54 212,185.54 212,185.54 6,267,112,279.73 2,492,787,804.98 5,640,938,818.14 2,638,741,692.49 11 596,572,442.54 78,732.96 278,436,971.60 22,314.70 12 708,148,150.65 18,584,607.75 146,018,990.32 13,945,807.65 7,571,832,872.92 2,511,451,145.69 6,065,394,780.06 2,652,709,814.84 13 313,394,171.18 311,412,835.33 317,653,855.68 315,009,008.81 2,892,489.59 2,794,379.59 316,286,660.77 311,412,835.33 320,448,235.27 315,009,008.81 11,906,387,176.85 8,480,035,716.79 10,825,467,067.71 8,246,427,419.08 24
2004-06-30 2003-12-31 14 2,081,000,000.00 1,270,000,000.00 2,100,000,000.00 1,080,000,000.00 120,000,000.00 120,000,000.00 280,000,000.00 280,000,000.00 15 239,355,663.32 125,820,025.57 140,993,218.27 132,575,522.31 16 48,518,290.95 27,988,503.87 13,659,869.18 934,496.07 17 142,699,065.82 142,699,065.82 142,699,065.82 142,699,065.82 18 53,423,863.95 22,417,691.28 43,765,368.68 12,925,265.34 19 1,580,680.69 776,791.88 1,660,312.90 1,105,852.95 20 422,354,128.29 365,149,066.24 102,514,834.40 99,216,803.46 21 644,297.43 644,297.43 32,229,080.40 6,720,000.00 3,142,739,566.92 2,075,495,442.09 2,832,012,669.25 1,748,522,509.88 : 22 1,034,317,764.75 377,672,954.77 401,169,286.16 401,169,286.16 1,034,317,764.75 377,672,954.77 401,169,286.16 401,169,286.16 : 23 16,953,875.20 19,073,109.60 4,194,011,206.87 2,453,168,396.86 3,252,255,065.01 2,149,691,796.04 1,685,508,650.05 1,476,476,379.66 24 1,563,505,000.00 1,563,505,000.00 1,563,505,000.00 1,563,505,000.00 25 3,820,162,574.18 3,820,162,574.18 3,820,162,574.18 3,820,162,574.18 26 288,641,210.70 112,023,057.78 562,870,558.82 386,252,405.90 : 71,894,945.62 260,197,829.22 188,302,883.60 27 354,558,535.05 531,176,687.97 125,181,410.04 301,799,562.96 25,016,080.00 25,016,080.00 6,026,867,319.93 6,026,867,319.93 6,096,735,623.04 6,096,735,623.04 11,906,387,176.85 8,480,035,716.79 10,825,467,067.71 8,246,427,419.08 25
2004 1-6 2003 1-6 2,769,869,268.14 1,591,669,695.11 2,729,056,432.51 1,594,637,505.56 5 29 2,296,536,841.41 1,482,758,403.14 2,096,298,933.22 1,362,912,572.30 6 30 24,408,842.28 11,111,771.58 27,040,748.93 13,753,363.92 448,923,584.45 97,799,520.39 605,716,750.36 217,971,569.34 13,217,536.50 22,201,268.51 8,952,539.53 8,942,389.80 3,418,561.20 3,418,561.20 3,784,778.03 3,784,778.04 31 178,320,149.36 130,388,718.19 143,519,830.51 118,177,506.95 7 32 25,336,152.67 8,896,300.17 101,475,251.87 73,774,724.90 255,066,257.72-22,702,790.66 365,889,429.48 31,176,949.25 130,078,975.40 251,979,949.73 138,980,831.53 263,207,622.17 8 177,136.00 133,136.00 610,620.62 370,708.85 34 438,148.96 33,170.06 49,136,740.67 7,892,934.53 384,884,220.16 229,377,125.01 456,344,140.96 286,862,345.74 35 38,187,324.60 73,761,052.26 23,641,153.54 117,319,770.55 119,361,896.50 229,377,125.01 229,377,125.01 263,221,192.20 263,221,192.20 125,181,410.04 301,799,562.96 699,065.82 189,772,238.30 354,558,535.05 531,176,687.97 263,920,258.02 452,993,430.50 38,745,500.28 26,322,119.22 32,533,809.75 26,322,119.22 354,558,535.05 531,176,687.97 192,640,947.99 400,349,192.06 191,940,000.00 191,940,000.00 354,558,535.05 531,176,687.97 700,947.99 208,409,192.06 26
2004 1-6 (%) ( / ) 7.45 7.23 0.2871 0.2871 4.23 4.11 0.1631 0.1631 3.81 3.69 0.1467 0.1467 3.61 3.51 0.1393 0.1393 1 = = 2 (ROE) ROE = P/(E0 NP 2 Ei X Mi M0 Ej X Mj M0) P NP ;E0 Ei Ej M0 Mi Mj 3 EPS EPS = P / ( S0 S1 Si X Mi M0 Sj X Mj M0 ) P S0 S1 Si Sj M0 Mi Mj 4 = + 3-114,577.98 17,396,698.26 30,444.68 5,746,284.30, 11,566,280.66 : : : 27
3,215,598,294.62 1,882,458,753.82 27,344,051.30 27,344,051.30 3,979,031.83 3,246,921,377.75 1,909,802,805.12 2,167,043,135.21 1,523,022,990.83 237,491,841.70 202,064,216.07 346,653,587.85 156,500,983.33 28,139,325.61 20,437,891.20 2,779,327,890.37 1,902,026,081.43 467,593,487.38 7,776,723.69 17,844,762.27 93,896,698.26 7,307,937.39 86,169.67 1,078,900.57 26,231,600.23 93,982,867.93 528,811,014.44 44,898,043.20 223,000,000.00 366,820,000.00 751,811,014.44 411,718,043.20-725,579,414.21-317,735,175.27 255,680,000.01 1,259,000,000.00 970,000,000.00 1,514,680,000.01 970,000,000.00 1,520,454,043.96 796,277,075.60 148,708,399.12 44,357,232.91 1,005,777.74 1,670,168,220.82 840,634,308.51-155,488,220.81 129,365,691.49-413,474,147.64-180,592,760.09 28
1 229,377,125.01 229,377,125.01 117,319,770.55 4,583,641.77 3,425,263.42 436,090,467.75 195,813,999.29 4,259,684.50 3,596,173.48 7,210,752.48 2,045,784.06 3,032,034.06 644,297.43 644,297.43 388,003.03-99,425.00 32,900.88 32,900.88 25,336,152.67 8,896,300.17-130,078,975.40-254,127,802.18-21,812,833.23-6,401,759.84-107,893,396.52-39,930,761.15-102,247,837.94-160,105,178.84 2,337,950.34 23,623,556.96 467,593,487.38 7,776,723.69 2 3 786,924,220.57 585,493,709.96 1,200,398,368.21 766,086,470.05-413,474,147.64-180,592,760.09 29
: 2004.01.01 2004.06.30 31,835,296.31 4,917,036.83 333,395.06 36,418,938.08 28,580,814.97 4,917,036.83 33,497,851.80 3,254,481.34 333,395.06 2,921,086.28 7,244,494.24 7,244,494.24 7,244,494.24 7,244,494.24 212,185.54 212,185.54 212,185.54 212,185.54 44,168,632.18 44,168,632.18 44,168,632.18 44,168,632.18 30
2004.01.01 2004.06.30 21,692,334.86 4,188,047.14 762,783.72 25,117,598.28 19,400,235.16 4,188,047.14 23,588,282.30 2,292,099.70 762,783.72 1,529,315.98 7,244,494.24 7,244,494.24 7,244,494.24 7,244,494.24 212,185.54 212,185.54 212,185.54 212,185.54 31
: 32
[1998]42 1998 6 4 3100001005356 264,701.00 201,891.00 76.27% 62,810.00, 23.73% [2001]734 23.73%,, 2002 2 25 2 1 132,350.50 100,945.50 76.27% 31,405.00 23.73% 2003 4 22 2002 2704 76.27% 2003 10 14 240,000,000.00, 1.00, 5.80 1,009,455,000.00 64.56% 314,050,000.00 20.09% 240,000,000.00 15.35% 2003 10 29 600021 33
280.92 1. 2. 1 1 12 31 3. 4., 5. 1 ( ),, 6. [1995]11 7. 8.,, 34
2 9. (1) (2) 1 5% 1 2 10% 2 3 20% 3 100% 10. 7 11. 35
12. 1 A B 20% 20% 20% 20% C 10 2 A 36
B 3 9 13. (1) :, (2) :,, 9 14. 1 37
2,000 2 3 ( 0-3%) ( ) % 3% 15-30 3.23-6.47 3% 12-13 7.5-8.5 3% 6 16.17 3% 4-10 9.7-24.25 4 ( ) ( ) ( ) ( ) ( ) 10 15. 38
1 3 2 3 12 16. 1 50 35 2001 1 5 2 A. B C D. 13 17. 1 2 39
A B 3 3 4 18. 19. 1 2 3 20. 21. 40
22. 10% 10% 5% 80% 90 23. 1995 11 < > 96 2 24. 2004 1-6 2003 2003 2004 1-6 ( ) 25. (1) 2004 1-6 41
(2) 2004 1-6 (3) 2004 1-6 % 6-17 5 7 3 * 15 33 * 15% 33% 17 1 ( ) 1,803,840,000.00 1,488,189,003.09 51% *1 156,500,000.00 81,380,000.00 52% *2 399,500.000.00 143,820,000.00 36% *1 2002 1 17 71,000.00 36,920.00 52% 2004 6 30 8,138.00 6,260.00 1,252.00 2003 11 19 2003 2291 2003 11 24 42
15,650.00 2002 3 22 2027 3 21 2003 12 [2003]1782 36% 30% 30% 4% 25 2004 3 10 035382 79900 39,950 2004 6 2004 6 30 2004 6 30 *2 36% 30% 30% 4% 1 *1 2 ( ) 3,220,000,000.00 643,792,641.72 20% 2*900MW 2000 6 9 3101151019100 2002 2 25 20% 20% 40% 40% 2003 4 43
3 ( ) 2,000,000,000.00 49.00% 1,251,143,581.11 10,000,000.00 10.00% 1,000,000.00 100,000,000.00 5.00% 6,000,000.00 100,000,000.00 10.00% 22,220,000.00 75,000,000.00 23.34% 6,273,268.31 10,000,000.00 45% 4,500,000.00 ( ) 1. 2004-06-30 2003-12-31 212,028.54 245,589.14 786,642,130.41 1,199,987,903.77 70,061.62 164,875.30 786,924,220.57 1,200,398,368.21 34.44% 2 2004-06-30 2003-12-31 44
50,000,000.00 50,000,000.00 2004 4 27 2004 10 26 3.528% 3 2003-06-30 2003-12-31 15,058,000.00 18,290,300.00 11,227,955.72 8,537,404.89 26,285,955.72 26,827,704.89 2004 6 30 4 2004-06-30 2003-12-31 % % 1 676,382,806.80 98.71 31,838,200.80 562,927,106.67 99.38 28,146,355.33 1 2 5,786,345.09 0.84 578,634.51 2,645,624.18 0.47 264,562.42 2 3 2,478,102.38 0.36 495,620.48 849,486.08 0.15 169,897.22 3 585,396.01 0.09 585,396.01 685,232,650.28 100.00 33,497,851.80 566,422,216.93 100.00 28,580,814.97 2004 6 30 % 634,204,782.24 1 92.55 9,053,321.25 1 1.32 6,620,008.40 1 0.97 5,101,256.00 1-2 0.74 2,765,634.04 1 0.40 657,745,001.93 95.98 2004 6 30 5% 45
5 (1) 2004-06-30 2003-12-31 % % 1 28,412,019.13 94.16 1,215,629.71 31,069,864.74 94.76 1,553,493.24 1 2 59,457.87 0.20 5,945.79 15,982.80 0.05 1,598.28 2 3 2,221.40 0.01 444.28 1,616.60 0.01 323.32 3 1,699,066.50 5.63 1,699,066.50 1,699,066.50 5.18 1,699,066.50 30,172,764.90 100.00 2,921,086.28 32,786,530.64 100.00 3,254,481.34 2004 6 30 5% (2) 2004-06-30 2003-12-31 29,107,720.12 32,607,863.47 8,000.00 56,000.00 1,057,044.78 122,667.17 30,172,764.90 32,786,530.64 (3) 2004 6 30 % 8,999,627.79 1 29.83 8,507,723.34 1 28.20 3,571,215.60 1 * 11.84 957,866.50 3 3.17 700,000.00 3 2.32 22,736,433.23 75.36 * 6 2004-06-30 2003-12-31 46
% 1 279,115,271.95 99.73 19,266,189.68 79.40 1 2 407,200.00 0.15 4,660,000.00 19.20 2 3 340,656.00 1.40 3 340,656.00 0.12 279,863,127.95 100.00 24,266,845.68 100.00 % 1053.27% 218,500,000.00 5 H 2004 6 30 5% 7 2004-06-30 2003-12-31 3,524,415.78 5,070,160.92 42,588,042.75 105,377,041.57 78,368,262.62 49,235,912.58 125,657.30 125,475.24 76,259,095.22 17,136,237.97 200,865,473.67 176,944,828.28 2004-01-01 2004-06-30 7,244,494.24 7,244,494.24 10 8 2004-01-01 2004-06-30 132,420.00 132,420.00 2004-06-30 3.6% 5 2002-2004 106,100.00 3.6% 5 2002-2004 26,320.00 132,420.00 9 1 2004-01-01 2004-06-30 47
1,815,585,928.61 119,550,920.81 562,620,000.00 * 1,372,516,849.42 32,306,965.63 2,369,352.66 29,937,612.97 1,847,892,894.24 119,550,920.81 564,989,352.66 1,402,454,462.39 * A - 2004-06-30 1999.11.30 2,000,000,000.00 1,251,143,581.11 49% 2000.11.23 100,000,000.00 6,000,000.00 5% 2000.11.23 100,000,000.00 22,220,000.00 10% 2001.12. 8 10,000,000.00 1,000,000.00 10% 2001. 9.28 75,000,000.00 6,273,268.31 23.80% 2002.1.17 156,500,000.00 81,380,000.00 52% 2004-1-18 10,000,000.00 4,500,000.00 45% 1,372,516,849.42 B 21,172,387.91 10 1,058,619.42 9,527,574.50 26,214,664.65 10 1,310,733.24 20,410,038.47 47,387,052.56 2,369,352.66 29,937,612.97 2 2004-01-01 2004-06-30 * 600,000,000.00 600,000,000.00 600,000,000.00 600,000,000.00 *.5.G 600,000,000.00 48
10 2004-01-01 * 2004-06-30 : 3,211,485,095.08 208,525,205.27 519,983.61 3,419,490,316.74 9,589,630,761.88 682,939,984.11 1,949,913.75 10,270,620,832.24 154,715,379.42 2,966,059.79 151,749,319.63 18,087,240.25 176,781,595.11 426,175.00 194,442,660.36 : 12,973,918,476.63 1,068,246,784.49 5,862,132.15 14,036,303,128.97 1,467,546,858.95 116,459,826.55 88,724.46 1,583,917,961.04 5,744,750,149.98 184,157,694.48 1,917,042.87 5,926,990,801.59 110,181,940.46 5,653,487.87 1,737,807.50 114,097,620.83 10,288,523.56 134,104,639.61 420,882.93 143,972,280.24 7,332,767,472.95 441,498,045.46 4,164,457.76 7,768,978,663.70 5,641,151,003.68 6,267,324,465.27 * 19,471,304.69 2,280,341.64 2004-01-01 2004-06-30 212,185.54 212,185.54 14 2004 6 30 11 2004-06-30 2003-12-31 589,020,631.51 277,137,688.30 7,551,811.03 1,299,283.30 596,572,442.54 278,436,971.60 114.26% 332,243,204.90, 74,269,624.15 2 3 12 2004-01-01 *1 2004-06-30 49
*2 36,411,065.98 72,846,263.73 55,830,318.95 53,427,010.76 33,028,437.97 32,613,924.52 414,513.45 *3 109,607,924.34 168,427,350.54 278,035,274.88 2 1,361,542,560.08 985,271,208.51 376,271,351.56 4,388,198.32 1.0134% 146,018,990.32 1,635,844,612.32 1,041,101,527.46 32,613,924.52 708,148,150.65 4,388,198.32 *1 1,107,985,620.31 *2 *3, 2004-01-01 2004-06-30 34,000,000.00 16,919,553.00 6,631,900.00 23,551,453.00 49.76% 35,571,400.00 10,804,275.60 16,639,001.00 27,443,276.60 30.37% 37,228,396.00 7,445,679.20 14,664,311.00 22,109,990.20 31,811,200.00 6,362,240.00 17,534,898.00 23,897,138.00 7,751,952.00 1,550,000.00 4,937,877.00 6,487,877.00 20.00% 20.00% 20.00% *3.1 40,752,985.00 8,150,597.00 17,812,535.00 25,963,132.00 20.00% BOP 57,266,500.00 16,183,290.00 26,535,382.00 42,718,672.00 28.26% 31.79% 2,138,750.00 680,000.00 680,000.00 35KV 3,980,000.00 2,786,000.00 2,786,000.00 70.00% 150,000,000.00 15,000,000.00 15,000,000.00 10.00% 443,897.00 443,897.00 *3.2 42,192,289.54 44,761,549.54 86,953,839.08 50
109,607,924.34 168,427,350.54 278,035,274.88 *3.1 89,567 40,752,985.00 50 *3.2 13 2004-01-01 2004-06-30 338,267,013.21 304,440,311.84 3,382,670.14 37,209,371.51 301,057,641.70 45 70,905,697.95 54,558,239.15 191,513.34 16,538,972.14 54,366,725.81 24-34 7,104,822.44 2,823,936.87 685,501.02 4,966,386.59 2,138,435.85 2-4 416,277,533.60 361,822,487.86 4,259,684.50 58,714,730.24 357,562,803.36 2004-01-01 2004-06-30 39,321,428.49 39,321,428.49 4,847,203.69 4,847,203.69 44,168,632.18 44,168,632.18 14 2004-06-30 2003-12-31 1,461,000,000.00 870,000,000.00 *1 350,000,000.00 980,000,000.00 270,000,000.00 250,000,000.00 *1 2,081,000,000.00 2,100,000,000.00 300,000,000.00 50,000,000.00 51
15 2004-06-30 2003-12-31 % % 1 237,301,697.06 99.14 140,415,215.01 99.59 1 2 1,536,855.00 0.64 281,066.00 0.20 2 3 254,390.00 0.11 34,216.00 0.02 3 262,721.26 0.11 262,721.26 0.19 239,355,663.32 100.00 140,993,218.27 100.00 69.76% 24 2004 6 30 5% 16 2004-06-30 2003-12-31 13,659,869.18 13,659,869.18 34,858,421.77 48,518,290.95 13,659,869.18 17 2004-06-30 2003-12-31 108,836,577.50 108,836,577.50 33,862,488.32 33,862,488.32 142,699,065.82 142,699,065.82 18 2004-06-30 2003-12-31 38,508,988.27 39,898,529.04 1,008,025.08 1,609,289.31 52
2,766,190.98 2,905,547.29 7,277,410.40-11,236,374.78 3,077,015.22 9,682,610.37 786,234.00 905,767.45 53,423,863.95 43,765,368.68 19 2004-06-30 2003-12-31 1,185,510.50 1,245,234.68 395,170.19 415,078.22 1,580,680.69 1,660,312.90 20 (1) 2004-06-30 2003-12-31 % % 1 371,735,802.72 88.02 50,766,942.43 49.52 1 2 2 3 3 25,394,197.92 6.01 23,238,446.26 22.67 478,956.08 0.11 229,575.08 0.22 24,745,171.57 5.86 28,279,870.63 27.59 422,354,128.29 100.00 102,514,834.40 100.00 311.99% 25 1998 53
2004 6 30 5% 2 2004-06-30 2003-12-31 % 20,517,353.06 4.86 20,856,523.08 20.34 55,196,637.32 13.07 66,751,579.39 65.11 9,665,505.25 2.29 7,039,711.25 6.87 290,022,579.17 68.67 46,952,053.49 11.11 7,867,020.68 7.68 422,354,128.29 100.00 102,514,834.40 100.00 % 21 2004-06-30 2003-12-31 644,297.43 22 644,297.43 2004-06-30 2003-12-31 * 1,034,317,764.75 401,169,286.16 * 1,034,317,764.75 401,169,286.16 1 75,508,522.36 377,672,954.77 1.08 1999 2 60 40 2004 6 30 318,882,981.34 77,249,913.12 352,277,735.00 20% 63,776,596.27 527,853,376.69 15,449,982.63 54
155,640,035.02 70,455,547.00 5,380,478.76 3,894,000.00 32,229,080.40 157.83% 24 23 2004-06-30 2003-12-31 16,953,875.20 19,073,109.60 24 2004-01-01 2004-06-30 % 1,009,455,000.00 1,009,455,000.00 64.56 314,050,000.00 314,050,000.00 20.09 A 240,000,000.00 240,000,000.00 15.35 25 1,563,505,000.00 1,563,505,000.00 100.00 2004-01-01 2004-06-30 3,862,184,438.64 3,862,184,438.64 228,477.83 228,477.83 3,678,709.44 3,678,709.44-45,929,051.73-45,929,051.73 3,820,162,574.18 3,820,162,574.18 26 2004-01-01 2004-06-30 302,672,729.60 85,926,464.52 216,746,265.08 260,197,829.22 188,302,883.60 71,894,945.62 562,870,558.82 274,229,348.12 288,641,210.70 1998 23 [1999]38 1998 55
2003 [2001]5 [2000]295 258,255,419.33 31,321,429.00 51% 15,973,928.79 274,229,348.12 2003 27 2004 1-6 125,181,410.04 229,377,125.01 354,558,535.05 1. 10% 2. 5 10% 3. 354,558,535.05 28 2004 1-6 2003 1-6 2,605,441,187.61 2,575,497,609.49 164,428,080.53 153,558,823.02 2,769,869,268.14 2,729,056,432.51 29 2004 1-6 2003 1-6 2,041,033,803.70 1,878,549,615.05 255,503,037.71 217,749,318.17 2,296,536,841.41 2,096,298,933.22 30 2004 1-6 2003 1-6 56
17,052,355.93 18,928,524.24 7,308,152.63 8,112,224.69 48,333.72 24,408,842.28 27,040,748.93 31 2004 1-6 2003 1-6 178,320,149.36 143,519,830.51 2003 1-6 80,902,095.40 143,519,830.51 2003, 2003 24 32 2004 1-6 2003 1-6 44,146,405.15 79,759,624.18 6,985,053.89 3,923,163.19-11,932,905.20 25,425,442.90 107,706.61 213,347.98 25,336,152.67 101,475,251.87 75.03% 57
33 2004 1-6 2003 1-6 17,651,241.01 48,796.20 114,797,087.05 141,301,387.98-2,369,352.66-2,369,352.65 130,078,975.40 138,980,831.53 34 2004 1-6 2003 1-6 388,003.03 7,972,164.69 269.18 23,243.00 611,178.59 39,321,428.49 49,876.75 1,208,725.90 438,148.96 49,136,740.67 35 2004 1-6 2003 1-6 38,187,324.60 73,761,052.26 48.23% 2003 2400 ( ) 1 2004-06-30 2003-12-31 % % 58
1 438,572,626.16 98.02 21,928,631.30 379,315,510.55 99.09 18,965,775.53 1 2 5,786,345.09 1.29 578,634.51 2,645,624.18 0.69 264,562.41 2 3 2,478,102.38 0.56 495,620.48 849,486.08 0.22 169,897.22 3 585,396.01 0.13 585,396.01 447,422,469.64 100.00 23,588,282.30 382,810,620.81 100.00 19,400,235.16 2004 6 30 5% 2 1 2004-06-30 2003-12-31 % % 1 15,723,587.64 95.40 786,179.38 30,979,561.90 97.61 1,548,978.10 1 2 16,132.80 0.10 1,613.28 15,982.80 0.05 1,598.28 2 3 1,616.60 0.01 323.32 1,616.60 0.01 323.32 3 741,200.00 4.49 741,200.00 741,200.00 2.33 741,200.00 16,482,537.04 100.00 1,529,315.98 31,738,361.30 100.00 2,292,099.70 2004 6 30 5% 2 2004-06-30 2003-12-31 16,000,356.95 31,559,694.13 482,180.09 178,667.17 16,482,537.04 31,738,361.30 3 2004-01-01 2004-06-30 120,870.00 120,870.00 2004-06-30 3.6% 2002-2004 95,100.00 59
3.6% 2002-2004 25,770.00 120,870.00 4 1 2004-01-01 2004-06-30 3,349,246,550.59 385,271,604.12 92,472,928.79 3,642,045,225.92 32,306,965.63 2,369,352.66 29,937,612.97 3,381,553,516.22 385,271,604.12 94,842,281.45 3,671,982,838.89-2004-06-30 1998.12.31 1,803,840,000.00 1,488,189,003.09 51% 2002.2.25 3,220,000,000.00 643,792,641.72 20% 2004.3.10 399,500,000.00 143,820,000.00 36% 2002.1.17 106,500,000.00 81,380,000.00 52% 1999.10.31 2,000,000,000.00 1,251,143,581.11 2000.11.23 100,000,000.00 6,000,000.00 * 5% 2000.11.23 100,000,000.00 22,220,000.00 * 10% 2001.12. 8 10,000,000.00 1,000,000.00 10% 2004.1.18 10,000,000.00 4,500,000.00 45% : 3,642,045,225.92 49% 1999.5-2019.5 51.00% 1,207,857,000.00 18,038,400.00 2002.2.25 20.00% 644,000,000.00 2004.3-2029.3 36% 143,820,000.00 1999.11-2019.11 49.00% 1,000,000,000.00 2004.1.18 45% 4,500,000.00 60
2004-06-30 122,108,332.61 776,500,000.00 262,293,603.09 1,488,189,003.09-207,358.28-207,358.28 643,792,641.72 143,820,000.00 203,375,466.31 251,143,581.11 1,251,143,581.11 4,500,000.00 2 2004-01-01 2004-06-30 600,000,000.00 600,000,000.00 600,000,000.00 600,000,000.00 5 2004 1-6 2003 1-6 1,433,626,365.31 1,443,930,421.02 158,043,329.80 150,707,084.54 1,591,669,695.11 1,594,637,505.56 6 2004 1-6 2003 1-6 1,232,243,080.49 1,155,970,634.09 250,515,322.65 206,941,938.21 1,482,758,403.14 1,362,912,572.30 7 2004 1-6 2003 1-6 61
130,388,718.19 118,177,506.95 2003 1 6 15,951,180.24 118,177,506.95 31 8 2004 1-6 2003 1-6 17,651,241.01 41,776.20 236,698,061.38 265,535,198.62-2,369,352.66-2,369,352.65 251,979,949.73 263,207,622.17 1. 338 4X300MW 1001 C3 2 C3 2 2X900MW 181 2. 2004-01-01 2004-06-30 1,200,000.00 1,200,000.00 180,384.00 180,384.00 15,650.00 15,650.00 62
39,950.00 39,950.00 322,000.00 322,000.00 3 2004-01-01 2004-06-30 % % % % 100,945.50 76.27 100,945.50 76.27 91,995.84 51.00 91,995.84 51.00 64,400.00 20.00 64,400.00 20.00 8,138.00 52.00 8,138.00 52.00 14,382.00 36.00 14,382.00 36.00 4. 5. A 2.2% 2% B 2004 1-6 2003 1-6 2004 1-6 2003 1-6 % % 1,460,038,187.82 97.48 1,212,063,396.98 86.99 63
C 2004 1-6 2003 1-6 D 2004 1-6 2003 1-6 2004 1-6 2003 1-6 4,500,000.00 6,000,000.00 10,500,000.00 E (1) 2003 9 2003 300MW 2004 1800 900 (2) 2003 9 2003 600MW 2004 1200 600 (3) 2003 9 2003 2004 900 450 F * 862,560,000.00 * 2004 5 24 2003 64
2004 6 30 660,675,694.99 2004 2 20 23.96 / 1 23.96 36% 8.6256 G 600,000,000.00 2003 7 8 2005 1 7 6.039%, 17,396,698.26 2004 4 27 2004 10 26 3.528%, 245,542.75 ( ) H 2004 5 19 50% 2003 [2004] 006 2003 12 31 76,521.53 94,855.40 50% 47,427.70 48,500.00 2004 6 30 21,850.00 6. 65
2004-06-30 2003-12-31 % % 218,500,000.00 78.07% : 218,500,000.00 78.07% 8,999,627.79 29.82% 30,417,440.62 92.77% 8,999,627.79 29.82% 30,417,440.62 92.77% 120,000,000.00 100.00% 280,000,000.00 100.00% : 120,000,000.00 100.00% 280,000,000.00 100.00% 111,985,323.06 46.79% 109,914,974.66 77.96% 111,985,323.06 46.79% 109,914,974.66 77.96% 5.F 1. 5 H 21,850 26,650.00 2.2000 10 8 12 13 12 13 3300 12 13 2004 6 30 12 1650 3.2003 3 GE BVI BVC HTC, 21,901.86 2003 12 19 2004 6 30 33,224.32 148,051 4 2003 3, ALSTOM 66
920 2,981.86, 2004 6 30 7,426.96 3,169 5 2004 6 30, 44,796.62 24,391.41 20405.21 6 2004 6 30, 10,318.62, 5,513.07 4,805.55 3 4 5 6 2004 7 8 2004 597 50% 2004 7 19 7,250.00 29,100.00 48,500.00 50% 2004 7 2004 6 30 67