Huaneng Power International, Inc. 2019 First Quarter Net Profit Attributable to Shareholders Increased By 114.27%

PRNewswire 25-Apr-2019 9:26 PM

BEIJING, April 25, 2019 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI", or the "Company") (NYSE:HNP, HKEx: 902, SSE: 600011)) today announced its operating results prepared in accordance with the PRC GAAP for the three months ended March 31, 2019.

For the first quarter of 2019, the Company recorded consolidated operating revenue of RMB 45.652 billion (equivalent to approximately USD 6.780 billion), representing an increase of 5.15% compared to the same period of last year. The consolidated net profit attributable to shareholders of the Company was RMB 2.656 billion (equivalent to approximately USD 394 million), representing an increase of 114.27% compared to the same period of last year. The earnings per share was RMB 0.16 and earnings per ADS amounted to RMB 6.42 (equivalent to approximately USD 0.954). The main reason for the year-on-year increase of the net profit is due to the drop in fuel prices.

Encl: The unaudited summary financial information of the Company for the three months ended March 31, 2019. 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. 

Unaudited Consolidated Balance Sheets

About Huaneng Power International, Inc.

Huaneng Power International, Inc. is one of China's largest listed power producers with controlled generation capacity of 105,973MW and equity-based generation capacity of 93,225MW. 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.