BEIJING, March 21, 2017 /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,
2016 prepared under the International Financial Reporting
Standards, in which the Company recorded consolidated operating
revenue of RMB113.814 billion
(equivalent to approximately USD16.407
billion, based on the exchange rate of USD1 to RMB6.9370 as of December 30, 2016) , representing a decrease of
11.71% compared to the same period last year, and net profit
attributed to equity holders of the Company amounted to
RMB8.520 billion (equivalent to
approximately USD 1.228 billion),
representing a decrease of 37.59% compared to the same period last
year. The decrease was primarily attributable to lowered on-grid
tariff for coal-fired power generators, administered by the
National Development and Reform Commission ("NDRC"), reduced
domestic power generation of the Company and increased volume of
market power transactions. Earnings per share amounted to
RMB0.56 (equivalent to approximately
USD 0.08), and earnings per ADS
amounted to RMB22.40 (equivalent to
approximately USD 3.23). The Board is
satisfied with the Company's results last year.
The Board of the Company proposed to declare a cash dividend of
RMB0.29 (inclusive of tax) for each
ordinary share of the Company held by shareholders.
In 2016, the Company actively responded to the new changes of
power system reform and the significant rise of coal price, and
took proactive initiatives to progress the relevant work, so as to
maintain overall stable operation in clean and safe production and
strict cost control, thereby achieving a better annual operating
objective. Meanwhile, the Company continued to fulfill the duties
of providing sufficient, reliable and green power to the
society.
Total power generated by the Company's domestic operating power
plants for the year on consolidated basis amounted to 313.690
billion kWh, representing a decrease of 2.13% year-on-year. The
electricity sold amounted to 295.800 billion kWh, representing a
decrease of 2.05% year-on-year. The annual average utilization
hours of the Company's domestic power plants reached 3,921 hours.
The utiliztion hours of coal-fired power generating unit was 4,107
hours. 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.
By continuously reinforcing cooperation with major coal mines,
innovating cooperation mode and procurement strategy, optimizing
regional supply structure, accurately judging coal market trends,
targeting high-quality low-cost imported coal resources in advanced
basis, and reducing the unit procurement price of standard coal,
the Company controlled the fuel procurement costs in a better way,
while the coal price rose significantly in the second half of the
year. The unit fuel cost of the domestic power plants throughout
the year occurred for sales of power was RMB
170.62/MWh, representing a year-on-year decrease of
1.76%.
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 95.05% and its weighted average
house consumption rate was 4.57%. The average yearly coal
consumption rate of the Company's coal-fired units for the power
generated was 290.34 grams/kWh, which was 0.62 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 307.69 grams/kWh, representing a decrease of 0.87
grams/kWh from that of the same period last year.
In 2016, the Company signed agreement to acquire interests of
four companies from parent company for the consideration of
approximately RMB15.114 billion, so
that it expanded the asset scale, operational scale and territory
scope of the Company. Upon the completion of the transaction on
1 January 2017, the Company increased
its controlled generating capacity by 15,607 MW, and generating
capacity under construction by 3,666 MW. Besides, the Company
completed the acquisition of 100% equity interest in Luoyang
Sunshine Thermal Power (with an installed capacity of 270MW).
The construction of power generating projects of the Company
progressed smoothly. In 2016, the controlled generating capacity of
the newly commissioned coal-fired power, wind power, and the
photovoltaic power generating units of the Company was 850MW, 328
MW, and 99 MW respectively.
As of 31 December 2016, the
Company's controlled and equity-based generation capacity was
83,878 MW and 76,618 MW, respectively. Besides, the Company further
commissioned coal-fired generating units and photovoltaic units put
in operation respectively recently. As of 21
March 2017, the Company's controlled and equity-based
generating capacities were 101,116 MW and 89,545 MW,
respectively.
In terms of the overseas business, in 2016 Tuas Power Ltd.
("Tuas Power"), a wholly-owned subsidiary of the Company in
Singapore, maintained safe and
stable operation of the generation units throughout the year. The
total market share of Tuas Power in the power generation market for
the whole year was 21.5%, representing a year-on-year decrease of
0.2 percentage point, mainly attributable to the ongoing oversupply
in the power market in Singapore
as a result of the fact that a large number of generating units
were put into operation in recent years.
In 2017, the Company will further firmly establish a sense of
leadership, competitive awareness, market awareness and risk
awareness. The Company will adhere to problem orientated,
strengthen innovation drive, undertake responsibility and mission,
enhance corporate vitality, and place more emphases on quality and
efficiency, transformation and upgrading, standardizing management
and risk prevention work, constantly improve the profitability,
competitive strength and sustainable development capability of the
Company.
~ End ~
Encl: The 2016 consolidated financial
information of the Company and its subsidiaries prepared under
IFRS: http://photos.prnasia.com/prnk/20170321/8521701875
About the Company
Huaneng Power International, Inc. is one of China's largest listed power producers with
controlled generation capacity of 101,116MW and equity-based
generation capacity of 89.545MW. The power plants of the Company
are located in 24 provinces, municipalities and autonomous regions
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. 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.
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