BEIJING, April 26, 2016 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI", or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited results for the three months ended March 31, 2016.
Under the PRC GAAP, the Company realized consolidated operating revenue of RMB28.823 billion for the first quarter of 2016, representing a decrease of 15.91% over the same period last year. Consolidated net profit attributable to the shareholders of the Company was RMB3.948 billion, representing a decrease of 21.58% over the same period last year. The decrease is mainly attributable to the on grid tariff cut for coal-fired power by National Development and Reform Commission, the year-on-year decrease of domestic power generation, and the increase of unplanned electricity sold in market.
Encl: The unaudited summary financial information of the Company for the three months ended March 31, 2016. 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.
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Encl: UNAUDITED CONSOLIDATED BALANCE SHEETS(PRC GAAP) AS AT 31 MARCH, 2016
About the Company
Huaneng Power International, Inc. is one of China's largest listed power producers with controlled generation capacity of 82,381 MW and equity-based generation capacity of 74,826MW. Its power plants are located in 22 provinces, municipalities and autonomous regions in China. It 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
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SOURCE Huaneng Power International, Inc.