omniture

Huaneng Power International, Inc. 2018 Nine Months Net Profit Attributable to Shareholders Decreased by 29.33%

BEIJING, Oct. 23, 2018 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI", or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited operating results prepared in accordance with the PRC GAAP for the nine months ended September 30, 2018.

For the three quarters of 2018, the Company and its subsidiaries recorded consolidated operating revenue of RMB125.989 billion (equivalent to approximately USD 18.314 billion), representing an increase of 13.08% compared to the same period of last year. The net profit attributable to equity holders of the Company was RMB1.989 billion (equivalent to approximately USD0.289 billion), representing an decrease of 29.33% compared to the same period of last year. The earnings per share was RMB0.12 and earnings per ADS amounted to RMB4.70 (equivalent to approximately USD0.68). The main reasons for the decrease of the net profit are the rise of fuel price and the decrease of investment income.

Encl: The unaudited summary financial information of the Company for the nine months ended October 30, 2018. The summary financial information is published under the listing regulations of the China Securities Regulatory Commission. The summary financial information was prepared in accordance with the 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. 

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About Huaneng Power International, Inc.

Huaneng Power International, Inc. is one of China's largest listed power producers with controlled generation capacity of 105,720MW and equity-based generation capacity of 93,386MW. 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.

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Source: Huaneng Power International, Inc.