Consolidated Net Profit Attributable to Company's Shareholders Amounted to RMB242 million
BEIJING, April 22 /Xinhua-PRNewswire-FirstCall/ -- Huaneng Power International, Inc. (the “Company”) (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited results for the three months ended March 31, 2008.
Under the PRC Accounting Standards, for the first quarter of 2008, the Company realized consolidated operating revenues of RMB13.534 billion, representing an increase of 20.23% over the same period last year. Consolidated net profit attributable to shareholders of the Company amounted to RMB242 million, representing a decrease of 79.95% over the same period last year.
In the first quarter of 2008, the steady growth in power demand in the regions where the Company’s power plants are located has provided room for growth in power generation. Meanwhile, the Company’s newly commenced and newly acquired generation units provided strong support for the growth in power generation. The operating power plants of the Company reported a power generation of 46.103 billion kWh, representing an increase of 18.62% over the same period last year. However, due to the substantial rise in the price of coal for power generation, the consolidated net profit attributable to the Company’s shareholders in the first quarter of 2008 decreased by 79.95% over the same period last year, highlighting the substantial operation pressure faced by the Company in terms of fuel cost control.
Huaneng Power International, Inc. develops, constructs, operates and manages large-scale power plants in China nationwide, with a total generation capacity of 33,723MW on an equity basis and a total controlling generation capacity of 37,119MW. The Company wholly owns sixteen operating power plants, and has controlling interests in thirteen operating power companies and minority interests in five operating power companies. Currently, it is one of the largest listed power producers in China.
Encl: The unaudited summary financial information of the Company for the
three months ended March 31, 2008. The summary financial
information is published under the listing regulations of the China
Securities Regulatory Commission. The summary financial information
was prepared in accordance “Accounting Standards for Business
Enterprises” of the People’s Republic of China (“PRC GAAP”),
which differs from the International Financial Reporting Standards
(“IFRS”) and the accounting principles generally accepted in the
United States of America (“US GAAP”). No reconciliation with IFRS
or US GAAP has been made in the presentation of the summary
financial information.
For financial information (unaudited), please refer to the link below:
http://xprnnews.xfn.info/huaneng/20080422/HK088004.pdf
For further information, please contact:
Ms. Meng Jing / Ms. Zhao Lin
Huaneng Power International, Inc.
Tel: +86-10-6649-1856 / 1866
Fax: +86-10-6649-1860
Email: zqb@hpi.com.cn
Ms. Patricia Tse / Ms. Christy Lai
Rikes Communications Limited
Tel: +852-2520-2201
Fax: +852-2520-2241
