BEIJING, Aug. 1, 2017 /PRNewswire/ -- Huaneng Power
International, Inc. ("HPI", or the "Company") (NYSE: HNP; HKEx:
902; SSE: 600011) today announced its unaudited operating results
for the first half year of 2017.
For the first half year of 2017, the Company and its
subsidiaries recorded consolidated operating revenue of
RMB 71.434 billion (equivalent to
approximately USD 10.545 billion,
based on the exchange rate of USD 1 to RMB
6.7744 as of June 30, 2017), representing an increase
of 34.97% compared to the same period of last year. The net profit
attributable to equity holders of the Company was RMB 0.244 billion (equivalent to approximately
USD 0.036 billion), representing a
decrease of 96.05% compared to the same period of last year. The
earnings per share was RMB 0.02
(equivalent to approximately USD
0.003) and earnings per ADS amounted to RMB 0.80 (equivalent to approximately
USD 0.12). The main reason for the
decrease of the net profit is the rise of fuel prices.
During the first half of 2017, against the challenges of new
change in power system reforms and drastic rise of coal prices, the
Company actively participated in market competition, strived to
open up the market and controlled costs, thus laying the foundation
for attaining the annual target.
Power Generation. In the first half of this year, the
power plants of the Company in operation within China achieved a total power generation of
186.685 billion kWh on a consolidated basis, representing an
increase of 27.80% from the same period of last year, as well as an
aggregate sales volume of 176.121 billion kWh, representing an
increase of 27.55% from the same period of last year, and with
1,901 utilization hours, representing an increase of 62 hours
compared to the same period of the previous year. In addition, the
aggregate power generation of Tuas Power Ltd., which is wholly
owned by the Company, accounted for a market share of 21.5%,
representing a slight decrease of 0.1 percentage point from the
same period of last year.
Cost Control. The coal market prices followed the trend
from Q4 last year and continued to be high and volatile for the
first half of 2017. With a close watch on market development
trends, the relevant State authorities took a series of actions to
free up advanced coal production capacity, secure coal supply and
stabilize coal prices. After thorough market research and analysis,
the Company strengthened and deepened cooperation with large coal
companies and strictly adhered to long- and medium-term thermal
coal contracts to ensure full delivery of coal supplies. Meanwhile,
the Company put in place strict measures to curb prices as well as
regulate bidding procurement of market coals, and optimize imported
coals so as to fully control the fuel costs.
Energy Conservation and Environmental Protection. The
Company attaches great importance to energy conservation and
environmental protection and has so far equipped all of its
coal-fired generating units with desulphurization, denitrification
and dust removal devices in compliance with applicable
environmental standards. The Company carried on with the ultra-low
emission technical upgrade on its coal-fired generating units as
planned. For the first half of this year, the Company completed the
ultra-low emission upgrade of 36 generating units, which means more
than 80% (on an accumulative basis) of the Company's coal-fired
generating units have met the ultra-low emission standard.
Project Development and Construction. For the first half
of 2017, a total capacity of 702.18MW had been put into operation
by the Company's power generation projects , including Unit 1 and
Unit 2 (100MW) of Liaoning Yingkou Xianrendao Thermal Power Plant,
the 24 wind power units with a total capacity of 48MW of Hebei
Zhuolu Dabao Wind Power Plant, the 106.4MW (12×4.2+14×4) wind power
units of Jiangsu Rudong Offshore Wind Farm, the 52MW (26×2) wind
power units of Jiangxi Linghuashan Wind Power Plant, and 17
Photovoltaic Power Plant with a total capacity of 395.78MW
including Shandong Zhanhua Qingfenghu Photovoltaic Power Plant. As
of June 30, 2017, the Company had a
controlled installed capacity of 101,698MW and an equity-based
installed capacity of 90,796MW, of which 13.36% was from clean
energy sources (gas turbine, hydro, wind, photovoltaic and biomass
power generation).
In the second half of the year, the Company will continue to
focus on safe and clean production, adhere to the principle of
quality and efficiency and expedite power structure adjustments;
actively participate in various market transactions and strive to
increase market share; further control fuel costs and expenses, and
endeavour to enhance operational efficiency; and continue to create
long-term, stable and increasing return for the shareholders of the
Company.
~ End ~
Encl: The consolidated financial information of the Company and
its subsidiaries prepared under IFRS for the six months ended June
30, 2017: https://photos.prnasia.com/prnk/20170801/1911374-1
About the Company
Huaneng Power International, Inc. is one of China's largest listed power producers with
controlled generation capacity of 101,698 MW and equity-based
generation capacity of 90,796MW. Its power plants are located in 25
provinces, municipalities and autonomous regions in China. It also has a wholly-owned power
company in Singapore.
For enquiries, please contact:
Huaneng Power International,
Inc.
Ms. MENG Jing / Ms. ZHAO
Lin
Tel: (8610) 6608 6765 / 6322
6596
Fax: (8610) 6322
6888
Email: zqb@hpi.com.cn
Wonderful Sky Financial Group Limited
Ms.
Iris Au Yeung / Ms. Tiffany Ruan / Ms. Echo
Ma
Tel: (852) 2851 1038
Fax: (852) 2865 1638
Email: po@wsfg.hk / tiffanyruan@wsfg.hk /
echoma@wsfg.hk
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SOURCE Huaneng Power International, Inc.