BEIJING, March 20, 2012 /PRNewswire-Asia/ -- Huaneng
Power International, Inc. ("HPI", the "Company") (NYSE: HNP, FHKEx:
902, FSSE: 600011) today announced its audited annual operating
results for the twelve months ended December
31, 2011 prepared under the International Financial
Reporting Standards, in which the Company recorded consolidated
operating revenue of RMB 133.421
billion (equivalent to approximately USD 21.175 billion, based on the exchange rate of
USD 1 to RMB 6.3009 as of
December 31, 2011), representing an
increase of 27.90% over 2010, and net profit attributable to equity
holders of the Company of RMB 1.181
billion (equivalent to approximately USD 0.187 billion), representing a decrease of
64.74% over 2010. Earnings per share amounted to RMB 0.08 (equivalent to approximately
USD 0.01), and earnings per ADS
amounted to RMB 3.20 (equivalent to
approximately USD 0.51). The Board is
satisfied with the Company's operating results in 2011.
The Board of the Company proposed to declare a cash dividend of
RMB 0.05 (inclusive of tax) for each
ordinary share of the Company held by shareholders.
In 2011, the Company attained new progress on many aspects
including power generation, energy saving and environmental
protection, project development and oversea operation. In respect
of domestic operations, despite the unfavorable conditions from
sustained increases in fuel prices and Renminbi lending rates, the
management and employees of the Company seized opportunities,
worked diligently to tackle the adversities, and fulfilled the
duties of providing sufficient, reliable and green energy to the
society. In respect of overseas operation, the operating results of
Tuas Power in Singapore in 2011
improved significantly, thus making important contributions to the
overall profit of the Company.
In 2011, total power generated by the Company's operating power
plants in China amounted to
313.554 billion kWh, representing an increase of 22.03% compared to
the same period last year. The electricity sold amounted to 295.717
billion kWh, representing an increase of 22.30% compared to the
same period last year. The annual average utilization hours of the
Company's domestic thermal generating units reached 5,552 hours,
representing an increase of 133 hours compared to the same period
last year and 258 hours higher than the average utilization hours
of the thermal generating units in China.
In 2011, the Company purchased a total of 145 million tons of
natural coal. The Company continued to enhance the communication
and coordination with major contracted suppliers, leverage on it to
actively explore new sources and supply channels for coal, and has
effectively secured our coal supply. In addition, by capitalizing
on the internal resources within China Huaneng Group, the Company
has increased its imports of coal, which has helped to control the
coal purchasing cost effectively. The unit fuel cost of power sold
of the Company's domestic power plants was RMB 270.37 per MWh, representing an increase of
9.24% compared to last year.
In 2011, the Company led the industry in terms of technical and
economic indicators and energy consumption indicator. The average
equivalent availability ratio of the Company's domestic power
plants was 94.23%, and its weighted average house consumption rate
was 5.03%. The Company's average coal consumption rate for the
power generated by coal-fired generating units was 296.40
grams/kWh, 1.14 grams/kWh lower than that of the same period last
year. The Company's average coal consumption rate for power sold
was 312.10 grams/kWh, representing a decrease of 3.49 grams/kWh
from 2010.
In 2011, the controlled generation capacity of the newly
commissioned coal-fired, combined cycle, wind turbine and
hydro-power generating units of the Company was 3,120 MW, 923
MW, 698.5 MW and 20 MW, respectively. The above has increased the
total controlled generating capacity and equity-based generation
capacity of the Company by 4,761.5 MW and 3,149.4 MW, respectively.
The installed generating capacity of the Company also changed as a
result of the change of installed generating capacity of some power
generation companies invested by the Company and the Company's
technological improvement to existing generating units and
close-down of small generating units. As of March, 20 2012, the
Company's controlled and equity-based generation capacity was
60,375 MW, and 55,350 MW, respectively.
In 2011, Tuas Power Ltd. ("Tuas Power"), a wholly owned company
of the Company in Singapore,
seized opportunities and continued to maintain safe and stable
operation of the generating units, and improved its operating
results significantly. Its market share in the power generating
market of Singapore for 2011 was
27.12%, representing an increase of 1.91 percentage point compared
to the corresponding period last year. Singapore businesses realized a net profit
attributable to the Company of RMB 1.282
billion for the whole year, representing an increase of
85.45% as compared to the corresponding period last year.
In 2011, the Company further secured its market position and was
widely recognized by the market. Given its outstanding performance,
the Company was awarded the "Most Popular Listed Company among
Investors in Hong Kong and
China" of the 2011 Golden Bauhinia
Awards in China securities market;
the Company was again named in the "Top 500 Chinese Listed
Companies" by Fortune magazine, and ranked 29th on the list.
In addition, the Company ranked 57th on the "Top 100 Chinese Listed
Companies" in 2010. Besides, the Company was listed on the "Platts
Top 250 Global Energy Listed Companies" for three years
consecutively, with an overall ranking of 127th and ranked 4th in
the category of global independent power producers and energy
traders.
In 2012, the Company will strive to make the annual domestic
generating units utilization hours reach 5,600 hours, thus enabling
the Company's domestic power plants to achieve an annual power
generation of 340 billion kWh. Meanwhile, the Company is to impose
more stringent control of fuel costs, and make endeavors to explore
new coal resources and supply channels. The major direction for the
Company is to maintain the position of its core business, adjust
power structure, enhance efficiency and risk control; to strengthen
capital management, enhance financial analysis ability, and improve
risk controls and cost controls. At the same time, the Company will
gradually accelerate the transformation of its development mode for
future developments, and further consolidate and optimize its
geographical coverage. The Company will fine tune the development
plan for thermal power generation, and aggressively invest in
development and construction of power projects in gas, wind and
hydro power, aiming to enhance the quality and efficiency of the
development.
Encl: The 2011 consolidated financial information of the Company
and its subsidiaries prepared under IFRS.
Consolidated Statement of Comprehensive Income:
http://www.prnasia.com/sa/attachment/2012/03/20120320231729178478.pdf
Consolidated Balance Sheet:
http://www.prnasia.com/sa/attachment/2012/03/20120320231729312059.pdf
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.
SOURCE Huaneng Power International, Inc.