（
1-2-1
2017 9,220,366.88
865,387.16 2015 2016 2017
1.5 2017 9 11
[2017]1668
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2015 2016 2017 。
2016 2017
2017
2017
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2016 。
2017
，
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AAA
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》
2015 2016 2017 0.26
0.31 0.31 0.22 0.26 0.26
2015 2016 2017
19,547,996.24 24,468,302.97 24,507,948.18
72.98% 73.90% 74.23%
2015 2016 2017
20,378,986.56 27,256,867.19 28,649,006.03
2015 2016
2017 542,273.20 804,600.91
738,541.15 17.01% 16.54% 15.22%
2015 2016 2017
1-2-4
1,439,961.12 1,715,763.82 2,183,666.71
45.16% 35.26% 44.99%
2017 6 13 “2016 ”
24 150
0
320
190 200
5
293
：
245
“
2017 ” “ 2018
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1-2-5
.................................................................................................................................................... 0
.................................................................................................................................... 2
.................................................................................................................................................... 6
.............................................................................................................................. 8
............................................................................................ 8
................................................................................................ 8
............................................................................................ 8
............................................................................................................ 16
.......................................................................................... 16
.......................................................................... 16
...................................................................................... 17
...................................................................................................... 20
................................................................................................................ 23
...................................................................................................... 23
.................................................................................. 23
.............................................................................................. 25
.................................................................................. 26
.............................................................. 27
.............................................................. 31
.................................................................................. 33
.................................................................................................................... 35
.................................................................................................................... 38
.......................................................................................... 38
.................................................................................. 38
.......................................... 38
.................................................................................................. 39
...................................................................... 39
1-2-6
............................................................................................................................ 41
.................................................................................................................. 41
.................................................................................................................. 41
1-2-7
2017 6 13 2016
，
24
2017 7 17
，
2017 9 11 [2017]1668
38
。
2018
“18 01” “143504”
15
3
》
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100
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2
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RQFII 4
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3. 2 . 5
① 20 500
3 50 ② 2
2
1
6
，
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》
2018 4 3
2018 4 4
1
2019 2021 4 4
1
2021 4 4
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6 26 AAA- 2014
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2017-09-14 AAA
2017-06-20 AAA
2017-05-18 AAA
2017-04-27 AAA
2017-01-25 AAA
2016-09-26 AAA
2016-08-01 AAA
2016-06-23 AAA
2016-06-08 AAA
2016-05-31 AAA
2016-05-17 AAA
2016-04-28 AAA
2016-02-18 AAA
2015-07-22 AAA
1-2-18
2015-05-18 AAA
2015-04-23 AAA
2015-04-20 AAA
2015-03-02 AAA
2014-07-09 AAA
2014-05-08 AAA
2014-04-21 AAA
2014-04-16 AAA
2014-04-14 AAA
2013-10-23 AAA
2013-06-28 AAA
2013-06-26 AAA-
2013-05-13 AAA
2013-03-07 AAA-
2012-11-05 AAA
2012-08-17 AAA
2012-06-29 AAA
2012-06-22 AAA
2012-01-11 AAA
2011-07-21 AAA
2011-07-07 AAA
2011-05-30 AAA
2010-12-15 AAA
2010-10-15 AAA
2010-05-25 AAA
2010-03-16 AAA
2010-02-21 AAA
2009-09-04 AAA
2009-08-27 AAA
2009-05-11 AAA
2009-04-10 AAA
2008-12-08 AAA
2008-06-11 AAA
2008-05-06 AAA
2008-04-29 AAA
2008-04-28 AAA
2008-04-22 AAA
2007-12-20 AAA
2007-10-08 AAA
2007-07-16 AAA
2006-06-21 BBB -
2006-05-17 BBB -
2005-05-25 BBB+ -
1-2-19
2017
3,646.43
2,418.79 66.33%
1 （
2-3
%
08 G1 2008-05-08 40.00 10 5.20
14 MTN001 2014-07-14 40.00 5 5.30
16 02 2016-06-13 12.00 10 3.98
16 01 2016-06-13 30.00 5 3.48
17 MTN001 2017-07-10 50.00 5 4.69
17 PPN001 2017-07-18 5.00 3 4.75
17 Y1 2017-09-25 25.00 3+N 5.05
17 Y2 2017-09-25 25.00 5+N 5.17
17 SCP007 2017-10-18 40.00 180 4.10
17 01 2017-11-06 23.00 3 4.99
17 SCP008 2017-11-15 20.00 180 4.19
17 SCP009 2017-11-22 10.00 180 4.17
18 SCP001 2018-02-24 40.00 90 4.35
18 SCP002 2018-03-02 20.00 90 4.35
18 SCP003 2018-03-21 20.00 150 4.40
18 SCP004 2018-03-23 40.00 180 4.45
440.00
1-2-20
/
/ 》
2
2017 23
2017 11 6
2018 3 7 2,299,975,420.00
（
2-4
2017.11.07 501,300,000.00
2017.11.13 1,798,675,420.00 17 SCP002
2017 11 7
350645001728 2017
2017
1-2-21
38 38
120 2017
13.01%
1-2-22
Huaneng Power International,Inc.
15,200,383,440
15,200,383,440
600011.SH 0902.HK
HNP.N
1994 6 30
6
6
100031
》 010-63226640
010-63226888
91110000625905205U
http://www.hpi.com.cn/
1-2-23
2017
75%
25% 100%
，
3-1 ，
100%
25% 75%
10.23%
33.33%
1 100%
25% 25%
2 10.23%
3.11% 0.49%
1-2-24
2017
3-1 2017
%
，
。
33.33 -
， 26.19 -
10.23 -
3.47 -
3.11 -
2.74 -
2.72 -
2.45 -
2.38 -
1.98 150,750,000
88.60 -- -- --
1
1985 6 8 4.5 ：
2017
1988 8 2002 12
200
1-2-25
《
2016
1.6
500 2016 217
2016 10,028.52 1,756.13
2015 2,460.71 68.09 2017
9 10,279.14 1,950.35 2017 1-9
1,884.92 32.01
2017
2
2017
2017
）
，
1-2-26
3-2 ），
2017
3-2 2017
1
1
2
3
4
5
6
1-2-27
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40 《
41
42
43
44
45
46
47
1-2-28
48
49
50
51
52
53 《
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79 《
80
81
82
83
84
85
86
87
88
1-2-29
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
1-2-30
130
131
132
133
134
135
136
137
138
139
140
141 《
1
2017
3-3 《
2017 2017
。 》
1955.08 2008.08.27 0 -
2008.05.13
1963.12 0 -
2008.04.22
1962.10 2008.08.27 0 -
1965.02 2017.06.13 0 -
1968.08 2014.09.18 0 2.38
1968.09 2012.02.21 0 -
1963.11 2017.06.13 0 -
1963.05 2017.06.13 0 -
1974.10 2014.09.18 0 7.37
1950.09 2016.06.23 0 7.37
1951.08 2017.06.13 0 3.69
1955.09 2017.06.13 0 3.69
1957.02 2017.06.13 0 3.69
1-2-31
2017
3-4 《
2017
2017
。 》
1967.08 2014.09.18 0 -
1975.09 2014.09.18 0 2.38
1964.02 2011.05.17 0 -
1966.06 2006.01.18 0 2.38
1966.03 2016.04.26 0 72.73
1972.11 2016.04.26 0 72.23
2017
3-5 《
2017
2017
。 》
1963.12 2008.04.22 0 -
1962.09 2012.10.23 0 79.44
1963.03 2012.10.23 0 79.44
1961.10 2009.11.09 0 79.44
1960.05 2012.10.23 0 79.44
1961.09 2012.10.23 0 79.44
1962.06 2015.03.13 0 79.15
《 1966.07 2016.01.20 0 79.14
1958.04 2012.10.23 0 79.44
1965.08 2017.05.22 0 72.78
1-2-32
2015 2016 2017
12,890,487.25 13,815,029.62 15,245,944.40
3-1
%
2017 2016 ( ) 2015
14,923,163.15 97.88 13,617,064.06 98.57 12,816,581.40 99.43
322,781.24 2.12 197,965.56 1.43 73,905.85 0.57
15,245,944.40 100.00 13,815,029.62 100.00 12,890,487.25 100.00
2015 2016 2017 9,152,126.38
10,807,519.52 13,520,927.18 2017
25.11% 2017
225.92 / 34.39%
244.63
194.65 23.76
3-2 （
%
2017 2016 2015
13,326,664.74 98.56 10,674,883.93 98.77 9,117,875.94 99.63
194,262.44 1.44 132,635.59 1.23 34,250.44 0.37
13,520,927.18 100.00 10,807,519.52 100.00 9,152,126.38 100.00
2015 2016 2017 3,738,360.87
1-2-33
3,007,510.10 1,725,017.22 29.00% 21.77%
11.31% 2015 2016 2017
3,698,705.46 2,942,180.13 1,596,498.41 28.86%
21.61% 10.70%
3-3 （
%
2017 2016 ( ) 2015
1,596,498.41 10.70 2,942,180.13 21.61 3,698,705.46 28.86
128,518.80 39.82 65,329.97 33.00 39,655.41 53.66
1,725,017.22 11.31 3,007,510.10 21.77 3,738,360.87 29.00
2015 2016 2017
12,784,940.81 13,584,641.37 14,892,544.17
99.75% 99.76% 99.79% 99%
3-4
%
2017 2016 ( ) 2015
14,892,544.17 99.79 13,584,641.37 99.76 12,784,940.81 99.75
23,235.95 0.16 23,734.68 0.17 21,168.48 0.17
7,383.03 0.05 8,688.02 0.06 10,472.11 0.08
14,923,163.15 100.00 13,617,064.06 100.00 12,816,581.40 100.00
2017
13,925,706.82 997,456.33 9.21% 15.14%
1-2-34
2015
2016 2017 。 2016 2017
2017
2017 。
2016 。 2017 2016 。
2015 。 2016
（
4-1 。
2016 /
。 2017 / 2015 /
37,869,372.91 37,975,939.61 29,972,972.26
936,482.35 1,021,418.47 753,781.26
28,649,006.03 27,256,867.19 20,378,986.56
9,220,366.88 10,719,072.42 9,593,985.70
15,245,944.40 13,815,029.62 12,890,487.25
214,657.20 1,327,467.13 1,754,967.71
2,919,736.26 3,781,416.69 4,236,270.70
-3,406,040.51 -2,344,022.97 -3,379,806.03
401,317.99 -1,502,265.55 -1,414,065.87
4-2
%
2016 /
2017 / 2015 /
0.31 0.31 0.26
0.26 0.26 0.22
75.65 71.77 67.99
1-2-35
2016 /
2017 / 2015 /
7.82 8.76 8.60
17.52 16.05 14.26
。 1.32 2.85 3.59
EBITDA 326.13 448.16 456.40
EBITDA 。 3.19 4.82 5.24
2.15 13.07 18.83
0.57 3.91 5.84
1 = /
2 = - /
3 = / ×100%
4 = /
5 = /
6 。= + / +
7 EBITDA= + +
8 EBITDA 。=EBIDTA/
9 = / ×100%
10 = / ×100%
2015 2016 2017
29,972,972.26 37,975,939.61 37,869,372.91
20,378,986.56 27,256,867.19 28,649,006.03
9,593,985.70 10,719,072.42 9,220,366.88
67.99% 71.77% 75.65%
2015 2016 2017 12,890,487.25
13,815,029.62 15,245,944.40 1,754,967.71
1,327,467.13 214,657.20 2015 2016 2017
EBITDA 456.40 448.16 326.13
2015 2016 2017
753,781.26 1,021,418.47 936,482.35
2015 2016 2017
1-2-36
4,236,270.70 3,781,416.69 2,919,736.26
-3,379,806.03 -2,344,022.97
-3,406,040.51
1-2-37
，
38 38
15
》 》/
1 / 2018.04.05 9.5
2 17SCP007/ 2018.04.16 40
3 / 2018.04.20 1.5
4 / 2018.04.27 2
5 08 10 / 2018.05.09 40
6 / 2018.05.14 10.5
7 17SCP008/ 2018.05.14 20
8 / 2018.05.17 20
9 17SCP009/ 2018.05.21 10
10 / 2018.05.25 1
11 / 2018.05.26 4.95
159.45
，
，
1-2-38
》
，
1-2-39
1-2-40
2015-2017
2017
2017
6
010-63226598
010-63226888
http://www.hpi.com.cn/
1-2-41
2 B 2
010-85130422
010-65608445
http://www.csc108.com/
9 7
、
010-60840880
010-60840886
http://www.newone.com.cn/
1-2-42