Huaneng Power International, Inc.: 10.757 Billion RMB Net Profit Attributed to Equity Holders of the Company in 2014

BEIJING, March 24, 2015 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI" or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its audited annual operating results for the twelve months ended December 31, 2014 prepared under the International Financial Reporting Standards, in which the Company recorded consolidated operating revenue of RMB125.407 billion (equivalent to approximately USD20.495 billion, based on the exchange rate of USD1 to RMB6.1190 as of December 31, 2014), representing a decrease of 6.30% over 2013, and net profit attributable to equity holders of the Company of RMB 10.757 billion (equivalent to approximately USD1.758 billion), representing an increase of 3.18% over 2013. Earnings per share amounted to RMB 0.76 (equivalent to approximately USD0.12), and earnings per ADS amounted to RMB30.40 (equivalent to approximately USD 4.97). The Board is satisfied with the Company's operating results in 2014.

The Board of the Company proposed to declare a cash dividend of RMB 0.38 (inclusive of tax) for each ordinary share of the Company held by shareholders for the year of 2014.

In 2014, the Company overcame difficulties posed by the decline in the growth rate of power generation, actively responded to the new trends and changes in the power market, and the Company had made new achievements in various aspects, including power generation, energy saving and emission reduction, project development and capital operation. Meanwhile, the Company managed to fulfill the duties of providing sufficient, reliable and green energy to the society.

In 2014, total power generated by the Company's operating power plants amounted to 304.869 billion kWh, while the power plants in China amounted to 294.388 billion kWh representing a decrease of 7.27% year-on-year. The electricity sold aggregated to 277.538 billion kWh, representing a decrease of 7.49% year-on-year. In 2014, the annual average utilization hours of the Company's domestic power plants reached 4,572 hours, of which the utilization hours of the thermal units reached 4,618 hours. In most of the areas where the Company's coal-fired power plants are located, the utilization hours of the Company was in a leading position within those areas.

The Company purchased a total of 121 million tons of natural coal. The Company adopted measures of "business mode transformation, structural adjustment", reinforced the cooperation with major coal mines, and further controlled over the Company's fuel procurement costs. The fuel costs per unit of power sold of the Company's domestic power plants was RMB201.19/MWh, representing a decrease of 7.96% compared to same period last year.

The Company has always placed energy saving and environmental protection as its utmost priority. In 2014, the Company continued to lead its peers in terms of technical, economic and energy consumption indicators. The average equivalent availability ratio of coal-fired units of the Company's domestic power plants was 95.21% and its weighted average house consumption rate was 4.60%. The average coal consumption rate of the Company's coal-fired units for the power generated was 292.19 grams/kWh, which is 1.28 grams/ kWh lower than that of the same period last year. The Company's average coal consumption rate for power sold was 309.42 grams/kWh, representing a decrease of 1.52 grams/kWh from that of the same period last year.

The controlled generating capacity of the newly commissioned coal-fired, gas turbine and wind generating units of the Company was 1,352.5 MW, 1,855.4MW and 416 MW, respectively. As of 23 March 2015, the Company's controlled and equity-based generating capacity was 78,693 MW and 70,736 MW, respectively.

In 2014, the Company acquired the assets and interests of ten target power companies from its parent company at a consideration of approximately RMB9.276 billion, which has expanded the Company's regional deployment and business scale and brought an additional controlled operational generation capacity of 7,087.5 MW and generation capacity under construction of 2,300 MW in total. On 13 November 2014, the Company issued a total of 365,000,000 H Shares to nine places, at an issue price of HK$8.60 per share, and the gross proceeds from the placing was approximately HK$3,139 million.

In 2015, the Company will further enhance its awareness of market, reform, innovation and risks, emphasize on market orientation and sophisticated management, highlight the quality and efficiency, continuously enhance its profitability, competitiveness and sustainability, to build first class listed power company in the world.

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Encl: The 2014 consolidated financial information of the Company and its subsidiaries prepared under IFRS: http://photos.prnasia.com/prnk/20150325/8521501883

About the Company

The Company is one of China's largest listed power producers with controlled generation capacity of 78,693MW and equity-based generation capacity of 70,736MW currently. The power plants of the Company are located in 21 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
Email: [email protected]

Wonderful Sky Financial Group Limited
Ms. Erica Tao / Ms. Shiloh Xiang
Tel: (852) 2851 1038
Fax: (852) 2865 1638
Email: [email protected] / [email protected]

SOURCE Huaneng Power International, Inc.