Huaneng Power International Inc : Huaneng Power International, Inc. Announces 2012 First Quarter Results
04/24/2012| 09:20am US/Eastern
BEIJING, April 24, 2012 /PRNewswire-Asia/ -- Huaneng Power International, Inc. ("HPI", the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited results for the three months ended March 31, 2012.
Under the PRC GAAP, the Company realized consolidated operating revenue of RMB 34.261 billion for the first quarter of 2012, representing an increase of 12.70% over the same period last year. Consolidated net profit attributable to the shareholders of the Company was RMB 919 million, representing an increase of 306.33% over the same period last year. The increase is mainly attributable to the following reasons: (1) there had been adjustments to the on-grid tariffs within China after the first quarter of 2011, which reduced the number of the Company's power plants that incurred operating loss from power generation in China; (2) the Company seized the favourable opportunities of the power market in Singapore and its profit from power generation business in Singapore recorded an increase compared to the same period last year; and (3) the Company had effectively controlled the costs, thereby laying a foundation for growth in profit.
Encl: The unaudited summary financial information of the Company for the three months ended March 31, 2012. 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 "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 Huaneng Power International, Inc. and its subsidiaries' condensed consolidated balance sheet (unaudited), please visit:
For Huaneng Power International, Inc. and its subsidiaries' condensed consolidated statement of income (unaudited), please visit:
About the Company
The Company is one of China's largest listed power producers with controlled generation capacity of 60,375 MW and equity-based generation capacity of 55,350 MW. The power plants of the Company are located in 19 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) 6641 2321
Wonderful Sky Financial Group Limited
Mr. Hon Fung /Ms. Yolanda Wang /Mr. Tony Chen /Ms.
Tel: (852) 2851 1038
Fax: (852) 2865 1638
firstname.lastname@example.org /email@example.com /
Email: firstname.lastname@example.org /email@example.com
SOURCE Huaneng Power International, Inc.