HUANENG POWER INTERNATIONAL INC | CIK:0000929058 | 3

  • Filed: 4/12/2018
  • Entity registrant name: HUANENG POWER INTERNATIONAL INC (CIK: 0000929058)
  • Generator: Unknown
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/929058/000114420418020280/0001144204-18-020280-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/929058/000114420418020280/hnp-20171231.xml
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    • ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory

    19
    Accounts receivable

    Accounts receivable comprised the following:
     
       
    As at 31 December
    		  
       
    2017
    		    
    2016
    		  
    Accounts receivable
    		    
    21,948,753
    		      
    14,050,096
    		  
    Notes receivable
    		    
    3,610,928
    		      
    2,432,264
    		  
         
    25,559,681
    		      
    16,482,360
    		  
    Less: provision for doubtful accounts
    		    
    112,086
    		      
    88,889
    		  
                     
    Total
    		    
    25,447,595
    		      
    16,393,471
    		  
     
    The gross amounts of account receivables are denominated in the following currencies:
     
       
    As at 31 December
    		  
       
    2017
    		    
    2016
    		  
    RMB
    		    
    24,633,465
    		      
    15,586,989
    		  
    S$ (RMB equivalent)
    		    
    922,993
    		      
    876,956
    		  
    US$ (RMB equivalent)
    		    
    3,223
    		      
    18,415
    		  
                     
    Total
    		    
    25,559,681
    		      
    16,482,360
    		  
     
    The Company and its subsidiaries usually grant about one month's credit period to local power grid customers from the end of the month in which the sales are made, except for SinoSing Power which provides credit period that ranges from 5 to 60 days from the dates of billings. Certain accounts receivables of Singapore subsidiaries are backed by bankers' guarantees and/or deposits from customers. It is not practicable to determine the fair value of the collaterals that correspond to these accounts receivable.

    As at 31 December 2017, no accounts receivable was secured to banks as collateral against loans (2016: nil).

    For the collateral of notes receivable, please refer to Note 27 for details.

    Movements of provision for doubtful accounts during the years are analyzed as follows:
     
       
    2017
    		    
    2016
    		    
    2015
    		  
    Beginning of the year
    		    
    (88,889
    )
    		    
    (2,054
    )
    		    
    (11,809
    )
    Provision
    		    
    (23,363
    )
    		    
    (88,818
    )
    		    
    (60
    )
    Reversal
    		    
    -
    		      
    397
    		      
    1,833
    		  
    Write-off
    		    
    167
    		      
    1,682
    		      
    -
    		  
    Transfer from a subsidiary to a joint venture
    		    
    -
    		      
    -
    		      
    8,126
    		  
    Currency translation differences
    		    
    (1
    )
    		    
    (96
    )
    		    
    (144
    )
                             
    End of the year
    		    
    (112,086
    )
    		    
    (88,889
    )
    		    
    (2,054
    )
     
    As at 31 December 2017, the Company and its subsidiaries recognised provisions for accounts receivable assessed on an individual basis, which mainly consists of receivables due from local customers for sales of electricity or heat. The provisions were provided based on operating results of the local customers and collectability of the receivables.

    (a)
    Ageing analysis of accounts receivable was as follows:
     
       
    As at 31 December
    		  
       
    2017
    		    
    2016
    		  
    Within 1 year
    		    
    24,787,284
    		      
    16,152,038
    		  
    Between 1 to 2 years
    		    
    576,564
    		      
    279,694
    		  
    Between 2 to 3 years
    		    
    155,360
    		      
    29,123
    		  
    Over 3 years
    		    
    40,473
    		      
    21,505
    		  
                     
    Total
    		    
    25,559,681
    		      
    16,482,360
    		  
     
    As at 31 December 2017, the maturity period of the notes receivable ranged from 1 to 12 months (2016: from 1 to 12 months).

    (b)
    Ageing analysis of accounts receivable and notes receivable that are neither individually nor collectively considered to be impaired are as follows:

       
    As at 31 December
    		  
       
    2017
    		    
    2016
    		  
    Neither past due nor impaired
    		    
    24,936,171
    		      
    16,063,215
    		  
                     
    Less than 1 year past due
    		    
    267,845
    		      
    248,597
    		  
    Between 1 to 2 years past due
    		    
    206,188
    		      
    63,094
    		  
    Between 2 to 3 years past due
    		    
    27,130
    		      
    17,944
    		  
    Over 3 years past due
    		    
    10,261
    		      
    621
    		  
                     
    Total
    		    
    25,447,595
    		      
    16,393,471
    		  
     
    Receivables that were past due but not impaired relate to a number of independent customers that have a good track record with the Company and its subsidiaries. Based on past experience, management believes that no impairment allowance is necessary in respect of these balances as there has not been a significant change in credit quality and the balances are still considered fully recoverable.