BEIJING,
Aug. 2, 2016 /PRNewswire/ -- Huaneng
Power International, Inc. ("HPI", the "Company") (NYSE: HNP; HKEx:
902; SSE: 600011) today announced its unaudited operating results
prepared in accordance with the International Financial Reporting
Standards ("IFRS") for the six months ended June 30, 2016.
For the first half of 2016, The Company and its
subsidiaries recorded consolidated operating revenue of
RMB 52.924 billion (equivalent to
approximately USD 7.981 billion,
based on the exchange rate of USD1 to RMB
6.6312 as of June 30, 2016),
representing a decrease of 18.96% compared to the same period of
last year, and net profit attributable to equity holders of the
Company of RMB 6.177 billion
(equivalent to approximately USD 0.931
billion), representing a decrease of 30.99% compared to the
same period of last year. Earnings per share amounted to
RMB 0.41, and earnings per ADS
amounted to RMB 16.40 (equivalent to
approximately USD 2.47). The decrease
is mainly attributable to the on grid tariff cut for coal-fired
power by National Development and Reform Commission, the
year-on-year decrease of power generation by the company and the
increase supply of unplanned electricity sold in market.
During the first half of 2016, facing the
external structural changes in the State's economy and the
continued reform of the power sector, the Company focused on
promoting the quality and efficiency enhancement and upgrading,
proactively responding to and participating in the market
competition, striving to expand the market, and exercising strict
control in costs and expenditure. All the work has achieved
comparatively good results, which laid a solid foundation for the
completion of 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 146.080 billion kWh, representing an
decrease of 8.60% from the same period last year, as well as an
electricity sold of 138.075 billion kWh, a decrease of 8.35% from
the same period of last year, and 1,839 utilization hours,
representing a decrease of 262 hours compared to the same period in
the previous year. The accumulated power generation of Tuas Power
Limited in Singapore, which is
wholly owned by the Company, accounted for a market share of 21.6%,
representing a decrease of 0.8 percentage point compared to the
same period last year.
Cost Control. In the first half of the
year, China's coal supply-side
structural reform was orderly processed. The production limitation
and reduction policy has been strictly implemented in major coal
producing areas. The government intensified the inspection on
illegal coal mines and closure and suspension of mines. The prices
of coal in both coal producing areas and at ports were on the rise,
and coal supply and demand became a bit tight. However, the Company
fully analyzed and forecast the market trend, reinforced and
deepened its cooperation with large-sale coal companies,
highlighted the bids and price comparison for open-market coal, and
at the same time improved coal importation, thereby effectively
controlling fuel costs.
Energy Conservation and Environmental
Protection. The Company attaches great importance to energy
conservation and environmental protection. To date, all of the
coal-fired generating units of the Company have been equipped with
desulphurization, denitrification and dust emission devices, with
all indicators meeting the environmental protection requirements.
At the same time, the Company proposes to implement super low
emission reform to generation units in certain areas according to
schedule. In the first half of 2016, the Company has completed
reform of 20 generation units, achieving a total of 54 generation
units of the Company that meet the standard for super low emission,
account for 44.3% of the reform target.
Project Development and
Construction. In the first half of 2016, the Company's
projects having commenced operation reached a total capacity of
240MW, including the Hubei Yingcheng Cogeneration Unit No. 1
(50MW), the Jiangsu Nanjing Cogeneration Unit No. 1 (50MW), the 25
wind power units with a total capacity of 50MW of Jiangsu Tongshan
Wind Farm, the 25 wind power units with a total capacity of 50MW of
Anhui Huaining Shijing Wind Farm, the 10MW photovoltaic power units
of Liaoning Yingkou Cogeneration, the 10MW photovoltaic power units
of Liaoning Dandong Power and the 20MW photovoltaic power units of
Hebei Kangbao Xitan Photovoltaic. As of 30
June 2016, the Company had a controlled generation capacity
of 82,571 MW and an equity-based generation capacity of 75,403 MW.
The proportion of clean energy (gas turbine, hydro-power, wind
power and PV) reached 12.87%.
During the second half of the year, The Company
will continue to focus on safety production, quality and
efficiency, accelerate structural adjustment of power supply. The
company will also persist in and focus on effective generating
power reducing the cost of fuel and strive to improve its operation
efficiency, proactively participate in the reform of power system
and cope with market changes, and persistently create a long-term,
stable and growing return to 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, 2016:
http://photos.prnasia.com/prnk/20160802/8521604941
About the Company
Huaneng Power International, Inc. is one of
China's largest listed power
producers with controlled generation capacity of 82,571 MW and
equity-based generation capacity of 75,403MW. Its power plants are
located in 22 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. Tiffany RUAN / Ms. Yan
LI
Tel: (852) 2851
1038
Fax: (852) 2865 1638
Email: po@wsfg.hk /
Tiffanyruan@wsfg.hk / yanli@wsfg.hk
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SOURCE Huaneng Power International, Inc.