Huaneng Power International, Inc.: RMB 9.133 Billion Net Profit Attributable to Shareholders for the Three Quarters of 2020 Increased by 69.34%

Huaneng Power International, Inc.: RMB 9.133 Billion Net Profit Attributable to Shareholders for the Three Quarters of 2020 Increased by 69.34%

BEIJING, Oct. 27, 2020 /PRNewswire/ — Huaneng Power International, Inc. (“HPI”, or the “Company”) (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited operating results prepared in accordance with the PRC GAAP for the nine months ended September 30, 2020.

For the three quarters of 2020, the Company and its subsidiaries recorded consolidated operating revenue of RMB 121.823 billion (equivalent to approximately USD 17.889 billion), representing a decrease of 4.31% compared to the same period of last year. The net profit attributable to shareholders of the Company was RMB 9.133 billion (equivalent to approximately USD 1.341 billion), representing an increase of 69.34% compared to the same period of last year. The earnings per share was RMB 0.50 and earnings per ADS amounted to RMB 20.13 (equivalent to approximately USD 2.957). The increase of Company’s net profit was mainly due to the decrease of fuel prices.

Encl: The unaudited summary financial information of the Company for the nine months ended September 30, 2020. 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: The unaudited summary financial information of the Company for the nine months ended September 30, 2020. 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. 

About Huaneng Power International, Inc.

Huaneng Power International, Inc. is one of China’s largest listed power producers with controlled generation capacity of 111,971 MW and equity-based generation capacity of 98,217 MW. The power plants of the Company are located in 26 provinces, autonomous regions and municipalities in China. The Company also has a wholly-owned power company in Singapore, and an invested power company in Pakistan.

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Source: Huaneng Power International, Inc.