Decreased by 81.46%
Compared to the Same Period Last Year
BEIJING, March 15, 2018 /PRNewswire/ -- Huaneng Power
International, Inc. ("HPI" or "the Company") (NYSE: HNP; HKEx: 902;
SSE: 600011) today announced its audited annual operating results
for the twelve months ended December 31,
2017 prepared under the International Financial Reporting
Standards, in which the Company recorded consolidated operating
revenue of RMB152.459 billion
(equivalent to approximately USD23.333
billion, based on the exchange rate of USD1 to RMB6.5342
as of December 31, 2017),
representing an increase of 33.95% compared to the same period last
year, and net profit attributable to equity holders of the Company
amounted to RMB1.580 billion
(equivalent to approximately USD0.242
billion), representing a decrease of 81.46% compared to the same
period last year, which was mainly because coal price rose
drastically in 2017. Earnings per share amounted to RMB0.10 (equivalent to approximately USD0.02), and earnings per ADS amounted to
RMB4.00 (equivalent to approximately
USD0.61). The Board is satisfied with
the Company's results last year.
The Board of the Company proposed to declare a cash dividend of
RMB0.10 (inclusive of tax) for each
ordinary share of the Company held by shareholders. The dividend
payment proposal will be presented at the 2017 annual general
meeting to be convened on 3 May 2018
for consideration. In addition, in order to better share the
development results of the Company with all shareholders, after
taking into account the strategic planning and development goal of
the Company as well as the development trend of the industry, the
Company has decided to further increase the distribution percentage
of cash dividends to investors in the next three years and will
formulate "Shareholders Return Plan for the Next Three Years
(2018-2020) of Huaneng Power International, Inc. " in accordance
with the relevant regulations. The specific condition and
percentage of the Company's cash dividends in the next three years:
under the circumstances that the profit and aggregate undistributed
profit are positive and the Company's cash flow can satisfy normal
operation and sustainable development of the Company, the Company
will distribute profit in cash on the principle that the profit
distributed in cash annually shall not be less than 70% of the
distributable profit in the consolidated statement for the year and
the dividend distributed per share shall not be less than
RMB0.1.
In 2017, the Company proactively adapted to the new changes in
the power system reform, grasping opportunities while at the same
time tackling challenges. The Company maintained its leading
position in terms of the level of safe and clean production in the
industry for the year. With continuous improvement in the power
structure, power generation saw an increase in both volume and
price, while the capabilities on sustaining the supply of and
controlling the price of fuels were enhanced. In addition,
outstanding performance was achieved in capital operation, thus the
annual operating objectives were accomplished in a more
satisfactory manner.
Total power generated by the Company's domestic operating power
plants for the year on consolidated basis amounted to 394.481
billion kWh, representing an increase of 25.76% year-on-year. The
electricity sold amounted to 371.399 billion kWh, representing an
increase of 25.56% year-on-year. The annual average utilization
hours of the Company's domestic power plants reached 3,951 hours,
increased 30 hours compared to the same period last year, of which
the utilization hours of the coal-fired units reached 4,194 hours,
increased 87 hours compared to the same period last year.In most of
the areas where the Company's coal-fired power plants are located,
the utilization hours of the Company was in a leading position
within those areas. Total heat supplied by the Company's domestic
operating power plants on consolidated basis amounted to 176
million GJ, representing a year-on-year increase of 79 million GJ
or 81.44%.
The Company continued to reinforce the cooperation with major
coal mines, optimized the structure of the regional supply, made an
accurate judgement of the coal market and decreased the procurement
price of Standard Coal by adopting effective measures. Given that
the price in the coal market remained at a high level throughout
the year, the Company exercised better control over the fuel
procurement costs. The unit fuel cost of our domestic power plants
throughout the year occurred for sales of power was RMB225.92/MWh, representing a year-on-year
increase of 32.41%.
In 2017, the Company continued to lead its peers in terms of
production safety, technical, economic and energy consumption
indicators. The average equivalent availability ratio of coal-fired
units of the Company's domestic power plants was 94.55% and its
weighted average house consumption rate was 4.66%. The average
yearly coal consumption rate of the Company's coal-fired units for
the power generated was 288.28 grams/kWh, which was 2.05 grams/kWh
lower than that of the same period last year. The average yearly
coal consumption rate of the Company's coal-fired units for the
power sold was 306.48 grams/kWh, representing a decrease of 1.21
grams/kWh from that of the same period last year.
The Company progressed smoothly in construction of power supply
projects. During the year, the controlled generation capacity of
the newly commissioned coal-fired cogeneration units, gas-fired
generating units, wind generating units and photovoltaic units of
the Company was 150 MW,1,660 MW, 888MW and 628 MV, respectively. As
of 31 December 2017 and 12 March
2018,the Company's controlled and equity-based generating
capacities were 104,321 MW and 92,003 MW, respectively.
In 2018, the Company will remain committed to enhancing
development quality and efficiency and will proactively participate
in the electric power market reform. The Company will strive to
achieve 410 billion kWh for annual domestic power generation and
4,000 hours for average utilisation hours. Besides, the Company
will push ahead with the enhancement in quality and efficiency as
well as transformation and upgrade. By adhering to the goal of
building a world class listed power generation company, the Company
will continue to improve its operating performance so as to create
more values to the country, society and shareholders.
~ End ~
Encl: The 2017 consolidated financial
information of the Company and its subsidiaries prepared
under IFRS.
About the Company
Huaneng Power International, Inc. is one of China's largest listed power producers with
controlled generation capacity of 104,321 MW and equity-based
generation capacity of 92,003MW. The power plants of the Company
are located in 26 provinces, autonomous regions and municipalities
in China. The Company 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. Crystal
HUA / Ms. Christina CHONG
Tel: (852) 3970 2155 / 3641
1333
Fax: (852) 2865 1638
Email: crystalhuay@wsfg.hk / christinachongkm@wsfg.hk
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SOURCE Huaneng Power International, Inc.