Huaneng Power International, Inc. Profit in 2013 Based on China Accounting Standards is Expected to Increase by More Than 75%
BEIJING, Jan. 27, 2014 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI" or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) announced its estimated annual results of 2013 today.
According to Rule 11.3.1 of the Rules Governing the Listing of Stocks on Shanghai Stock Exchange, a listed company is required to announce its estimated annual results within one month after the end of its financial year (i.e., before January 31 of each year) if the annual net profit of the listed company for that financial year is estimated to increase or decrease by more than 50% over the same period last year. Based on the preliminary estimate of the Company, the annual net profit attributable to the Company's shareholders in 2013 based on China Accounting Standards is expected to increase by more than 75% compared to the same period last year. The estimated profit increase was primarily due to the decrease of domestic coal price in 2013. The annual net profit attributable to the Company's shareholders based on the International Financial Reporting Standards ("IFRS") will be different due to the reconciliation with IFRS.
Detailed financial information will be disclosed by the Company in its 2013 Annual Report. Potential investors and shareholders of the Company should exercise caution when dealing in the shares of the Company.
About the Company
The Company is one of China's largest listed power producers with controlled generation capacity of 66,795MW and equity-based generation capacity of 59,625MW. 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
SOURCE Huaneng Power International, Inc.