BEIJING, March 31, 2020
/PRNewswire/ -- Huaneng Power International, Inc. ("HPI", or the
"Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced
its audited operating results prepared under IFRS for the year
ended December 31, 2019. For the
twelve months ended 31 December 2019,
the Company realized consolidated operating revenue of RMB174.009 billion (equivalent to
approximately USD
24.943 billion, based on the exchange rate of
USD 1 to RMB
6.9762 as of December 31,
2019), representing an increase of 2.63% compared to
the same period last year, and net profit attributable to equity
holders of the Company amounted to RMB766 million (equivalent
to approximately USD 110 million), representing an increase of
4.34% as compared with the same period last year. Earnings per
share amounted to RMB0.01(equivalent
to approximately USD 0.001), ADS
amounted to RMB0.20 (equivalent to
approximately USD 0.029). The main
reason for the increase of the net profit is the comprehensive
impact of the decrease of fuel costs year-on-year and the
increase of asset impairment loss. The Board is satisfied with the
Company's results last year.
The Board proposed to declare a cash dividend of RMB0.135 (inclusive of tax) for each
ordinary share of the Company held by shareholders.
In 2019, the Company proactively adapted to the changes in the
market and anticipated the dynamics of the reforms in national
economy and power market system to promptly realign its operating
strategy. Throughout the year, the Company maintained stable
operation of safe and clean production, achieved notable results in
improving quality and efficiency, made headway in optimizing the
structure, and strengthened its corporate governance. As a result,
the Company has satisfactorily achieved its annual business
objectives and maintained its leading position in the industry.
In 2019, total power generated by the Company's domestic
operating power plants for the year on consolidated basis amounted
to 405.006 billion kWh, representing a year-on-year decrease of
5.91%. The electricity sold amounted to 388.182 billion kWh,
representing a year-on-year decrease of 4.38%. The annual average
utilization hours of the Company's domestic power plants reached
3,915 hours, representing a year-on-year decrease of 293 hours. The
utilization hours of coal-fired power generating units was 4,222
hours, representing a year-on-year decrease of 273 hours. In most
of the areas where the Company's coal-fired power plants are
located, the utilization hours of the Company were in a leading
position. Total heat supplied by the Company's domestic operating
power plants on consolidated basis amounted to 240 million GJ,
representing a year-on-year increase of 10.69%.
Throughout the year, the Company procured an aggregate of 183
million tons of coal. By continuously and accurately judging coal
market trends, optimizing procurement strategy and regional supply
structure, reinforcing cooperation with major coal mines, targeting
high- quality low- cost resources on an advanced basis, and
reducing the increase of unit procurement price of standard coal
effectively. The unit fuel cost of its domestic power plants
throughout the year incurred for sales of power was RMB223.22/MWh, representing a year-on-year
decrease of 5.77%.
In 2019, The Company maintains a leading position among major
domestic power companies in terms of safe operations, technology
economy and energy – consuming index. In 2019, the Company
maintains a leading position among major domestic power companies,
with the average equivalent availability ratio of the coalfired
generating units of the Company was 93.49%; its weighted average
house consumption rate was 4.49%; the average yearly coal
consumption rate for the power generated was 288.52 grams/kWh; and
the Company's average coal consumption rate for power sold was
307.21 grams/kWh. As per the demand for resolutely fighting against
pollution, the Company actively carried out the three year action
plan to defend the blue sky. With respect to air pollution
emissions, the power generation companies affiliated to the Company
have carried out ultralow-emissions transformation as planned with
marked results. All of them have met or out-performed the national
emission standards. With respect to treatment of unorganized
emissions such as wastewater discharge and coal yards and ash
yards, the Company has allocated funds to carry out environmental
technological transformation projects such as wastewater treatment,
coal yard closure, and ash yard transformation in power plants in
key regions. All power plants have accelerated environmental
protection transformation projects to ensure that pollutant
emissions meet the requirements under pollution discharge permits
and other ecological and environmental protection policies.
In 2019, The Company progressed smoothly in the construction of
power supply projects. During the year, the controlled generation
capacity of the newly commissioned wind generating units and
photovoltaic units was 864MW and 422MW, respectively. As of
31 December 2019, the Company's
controlled and equity-based generation capacity was 106,924 MW and
93,676MW, respectively.
In 2019, 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 20.7%, representing a year-on-year decrease of 0.4
percentage point. The Singapore
project (SinoSing Power and Tuas Power combined) recorded a pre-tax
loss of RMB569 million, representing
a decrease in loss of RMB261 million
compared with RMB830 million in
2018.
The Sahiwal 2×660MW coal-fired power plant project in
Pakistan is one of the projects
given priority for implementation under the framework of the
China-Pakistan Economic Corridor Energy Project Implementation
Agreement. It is the first large-scale coal-fired power plant put
into operation in the China-Pakistan Economic Corridor. It greatly
eased the power shortage in Pakistan. The Pakistan project was included in the
consolidated statements on 31 December
2018. Its profit before tax was RMB739 million for 2019.
In 2020, the Company will further strengthen market orientation,
reform implementation, innovation incentive, and risk awareness.
With safety and environmental protection as the foundation, quality
and efficiency as the core, and reform and innovation as the
driver, the Company will further optimize its structure, operations
and assets and further enhance corporate governance. The company
will strive to reach the annual power generation of approximately
410 billion kWh, with an average utilization hour of about 3,800
hours and will continue to improve its operating performance
revolving around the goal of building a world-class listed power
generation company, so as to create more value for the country,
society and shareholders.
~End~
Encl: The consolidated financial information of the Company and
its subsidiaries prepared under IFRS for the year ended
December 31, 2019.
About Huaneng Power International, Inc.
Huaneng Power International, Inc. is one of China's largest listed power producers with
controlled generation capacity of 106,924 MW and equity-based
generation capacity of 93,676 MW. 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, and an invested power company in
Pakistan.
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SOURCE Huaneng Power International, Inc.