BEIJING, Aug. 18, 2020
/PRNewswire/ -- Huaneng Power International, Inc. ("HPI", or the
"Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its
unaudited operating results prepared under IFRS for the six months
ended 30 June 2020.
For the six months ended 30 June
2020, the Company and its subsidiaries recorded consolidated
operating revenue of RMB79.127
billion (equivalent to approximately USD 11.177 billion, based on the exchange rate of
USD 1 to RMB
7.0795 as of 30 June 2020),
representing a decrease of 5.35% compared to the same period of
last year. The net profit attributable to equity holders of the
Company was RMB5.441 billion
(equivalent to approximately USD 769
million), representing an increase of 58.10% compared to the
same period of last year. The earnings per share was RMB0.30 and earnings per ADS amounted to
RMB 12.00 (equivalent to
approximately USD 1.695). The main
reason for the YoY increase of the net profit is the decrease of
fuel costs.
In the first half of the year, the Company firmly focused on the
production and operation, reform and development as well as the
annual work plan, made every effort to cope with the outbreak of
COVID-19 epidemic, actively promoted the resumption of work and
production, seized the market opportunities, implemented each
project, thus achieved the major production and operating
performance targets, laying a solid foundation for the
comprehensive and high-quality completion of the goals and tasks of
the year.
Power Generation. In the first half of the year, the
Company's total power generation by the power plants within
China on consolidated basis
amounted to 179.650 billion kWh, representing a decrease of 8.05%
over the same period last year. Total electricity sold by the
Company amounted to 172.125 billion kWh, representing a decrease of
6.98% over the same period last year. The utilization hours reached
1,718 hours, representing a decrease of 182 hours over the same
period last year.
Cost Control. In the first half of the year, due to
COVID-19 outbreak, safety inspection, shortage of hydro-power
generation and other factors, the price pivot has generally moved
downward despite the significant fluctuation in the coal prices. In
the first half of the year, the CCI5500 index which reflected the
price level of thermal coal at ports around the Bohai Rim region
averaged at RMB540/tonne,
representing a decrease of RMB70/tonne compared to the same period last
year. The Company scientifically researched and judged the market
trend, flexibly adjusted its procurement strategy and played a
supplementary supply role for imported coal, resulting in an
overall stable coal supply and a significant decrease in the unit
price of standard coal purchase compared to the same period last
year. The unit fuel cost of the Company's domestic power plants
throughout the year incurred for sales of power was RMB206.51/MWh, representing a decrease of
7.73% compared to the same period last year.
Energy Conservation and Environmental Protection. In
the first half of the year, the Company made steady progress in
implementing the three-year action plan for safety production
special rectification, wastewater treatment in key areas and
closure of coal plants, which resulted in the continuous
improvement of the safety, economic and environmental protection
operation of power generation units and continuing to maintain the
Company's leading position in the industry in terms of pollutant
emission concentration and energy-consumption index. The average
emissions of sulfur dioxide, nitrogen oxides and soot from thermal
generating units were all superior to the ultra-low emission
standard.
Project Development and Construction. In the first
half of the year, the Company proceeded smoothly in the
construction of power generation projects. The capacity of the
commissioned units was 1,438.42 MW, including gas turbine
generation units with a capacity of 472.52 MW, wind generation
units with a capacity of 480 MW and photovoltaic generation units
with a capacity of 485.9 MW. In the meantime, some of the power
plants invested or controlled by the Company underwent changes in
capacity. As of 30 June 2020, the
Company had a controlled generation capacity of 108,111 MW and an
equity-based generation capacity of 94,878 MW. The proportion of
the installed capacity of clean energy sources (gas turbine, hydro,
wind, photovoltaic and biomass power generation) reached
18.16%.
Singapore Business. In the first half of the year,
the accumulated power generation of Tuas Power Ltd. ("Tuas Power"),
a wholly-owned subsidiary of the Company in Singapore, accounted for a market share of
21.5%, representing an increase of 1.0 percentage point compared to
the same period last year. The sales revenue was RMB5.633 billion, representing a decrease of
11.84% compared with RMB6.39 billion
of the same period last year. The net profit attributable to the
equity holders of the Company from its operations in Singapore was RMB25
million.
Pakistan Business. The Sahiwal 2×660MW coal-fired
power plant project in Pakistan is
one of the projects which was 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. In the first half of the
year, the Pakistan project
recorded profit before tax of RMB347
million.
In the second half of the year, the Company will hold on to the
safety bottom line, focus on improving quality and efficiency,
strive to achieve the annual goal of "resolving stagnant
enterprises and enterprises with difficulties", do its best to push
forward transformation development, go all out to achieve the
annual operating tasks so as to continue to bring long-term, stable
and increasing returns to the shareholders of the Company.
~End~
Encl: The consolidated financial information of the Company and
its subsidiaries prepared under IFRS for the six months ended
30 June 2020.
About Huaneng Power International, Inc.
Huaneng Power
International, Inc. is one of China's largest listed power producers with
controlled generation capacity of 108,111 MW and equity based
generation capacity of 94,878 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.