HUANENG POWER INTERNATIONAL, INC.: The Profit Attributable to Equity Holders of the Company Increased by 21.09% Compared to the Same Period Last Year

BEIJING, July 29, 2014 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI", the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited operating results prepared in accordance with the International Financial Reporting Standards ("IFRS") for the six months ended June 30, 2014.

For the six months ended June 30, 2014, the Company and its subsidiaries recorded consolidated operating revenue of RMB 64.606 billion, representing an increase of 0.85% compared to the same period last year. The profit attributable to equity holders of the Company was RMB 6.808 billion, representing an increase of 21.09% compared to the same period last year. Its earnings per share were RMB 0.48 and earnings per American Depositary Share ("ADS") were RMB 19.2 (equivalent to approximately USD 3.12). The increase of the Company's net profit was mainly attributable to the fall of the coal price and the increase of power generation , each compared to the same period last year.

During the first half of 2014, in face of structural changes of the Chinese economy and the stagnant growth of total electricity consumption nationwide compared to the same period last year, the Company seized the favorable situation of the decline coal prices with strict controls on expenditure and strengthened internal fuel management efforts, while encouraging its power plants to make more power generation and control coal prices. The Company has achieved satisfactory performance of each of its business plans in the first half of 2014.

Power Generation.  In the first half of this year, the operating power plants of the Company within China achieved a total power generation of 151.739 billion kWh, aggregate electricity sold of 143.554 billion kWh, and a total of 2,374 utilization hours, representing an increase of 1.51%, an increase of 1.62%, and a decrease of 24 hours, respectively, compared to the same period previous year.

Cost Control.  Coal supply still outstripped demand within China in the first half of 2014, leading to a sharp fall of the prices of both domestic and imported coal. With a close watch on market changes, the Company seized the favorable market opportunity by taking various efforts for fuel cost controls, including adjustment of business modes and structures, strengthened strategic cooperation with large coal companies, increased purchase of competitively priced imported coal, and enhanced management of internal fuels through automatic and digital means.

Energy Conservation and Environmental Protection.  The Company attaches great importance to energy conservation and environmental protection and has equipped all of its coal-fired generating units with desulphurization devices. For the first half of this year, the Company's coal-fired generating units with a total power generation capacity of 55,059 MW (representing approximately 90% of its total coal fired generating capacity) had completed the denitrification process or were newly equipped with denitrification devices. Since the new emission standards promulgated by PRC Government took effect on July 1, 2014, emissions of sulfur dioxide and nitrogen oxide from the Company's generating units were generally in compliance with the requirements of these standards, while the dust removal devices on certain generating units of the Company will be upgraded.

Project Development and Construction.  For the first half of 2014, the Company obtained approval for its Liaoning Huaneng Yingkou Xianrendao thermal power project (100 MW), Shanxi Huaneng Dongshan Gas Turbine Project (859 MW), Jiangsu Huaneng Liuhe Wind Farm Project (49.5 MW) and Huaneng Hunan Guidong Wind Farm Project (36 MW).

In addition, Tembusu Phase II Project A (32.5 MW) of Tuas Power Ltd., which is wholly owned by the Company, was put into operation. The aggregate power generation of Tuas Power Ltd. accounted for a market share of 21.6% in Singapore, representing an increase of 0.7% from the same period last year. Certain generating units of the Company had also experienced upgrade for increased capacity, and the installed capacity from power plants which we have minor interests has also changed. As of June 30, 2014, the Company had a controlled installed capacity of 66,888 MW, of which 9.34% came from clean energy sources (hydropower, wind power and gas turbine).

For the second half of this year, the Company will continue accelerating the transformation of its development mode; further consolidate and optimize its geographical coverage; make increased efforts on structural change; strengthen its investment and strategy in clean energy so as to further advance its synergy in relevant sectors as well as to accomplish its targets for the year. The Company will also strengthen the management of safe production to ensure safe, stable and economical operation of its generating units; reinforce the marketing efforts to maintain its leading position in terms of utilization hours. It will also strengthen its efforts for cost and expense controls and improved construction project management, make consistent endeavors focusing on sustained profitability, and maintain sustainable, healthy and sound development of the Company.

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Encl: The consolidated financial information of the Company and its subsidiaries prepared under IFRS for the six months ended June 30, 2014.

About the Company
The Company is one of China's largest listed power producers with controlled generation capacity of 66,888 MW and equity-based generation capacity of 60,184 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.

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. Irene Gao / Ms. Mary Ma/ Ms. Corrine Wang
Tel: (852) 2851 1038
Fax: (852) 2865 1638
Email: [email protected] / [email protected] / [email protected] / [email protected]

SOURCE Huaneng Power International, Inc.