Huaneng Power International, Inc. RMB 3.127 Billion Net Profit Attributable to Equity Holders for the First Quarter of 2021 Increased by 51.75%

Rhea-AI Summary

Huaneng Power International, Inc. (HNP) reported a strong performance in Q1 2021, achieving consolidated operating revenue of RMB 49.909 billion (approx. USD 7.595 billion), reflecting a 23.59% year-over-year increase. Net profit attributable to equity holders rose by 51.75% to RMB 3.127 billion (approx. USD 476 million), driven primarily by higher domestic electricity sales. Earnings per share stood at RMB 0.17, with earnings per ADS at RMB 6.62 (approx. USD 1.008). Detailed financial statements are available per PRC GAAP standards.

Positive

• Operating revenue increased by 23.59% to RMB 49.909 billion.
• Net profit attributable to equity holders was RMB 3.127 billion, up by 51.75%.
• Earnings per share reached RMB 0.17, indicating strong profitability.

Negative

• None.

BEIJING, April 27, 2021 /PRNewswire/ -- Huaneng Power International, Inc. ("the Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited operating results prepared in accordance with the PRC GAAP for the three months ended March 31, 2021.

For the first quarter of 2021, the Company and its subsidiaries recorded consolidated operating revenue of RMB 49.909 billion (equivalent to approximately USD 7.595 billion), representing an increase of 23.59% compared to the same period of last year. The net profit attributable to equity holders of the Company was RMB 3.127 billion (equivalent to approximately USD 476 million), representing an increase of 51.75% compared to the same period of last year. The earnings per share was RMB 0.17 and earnings per ADS amounted to RMB 6.62 (equivalent to approximately USD 1.008). The increase of the Company's net profit was mainly due to the increase of domestic electricity sales.

NOTE: Detailed financial statements and information are available through this link:
https://mma.prnewswire.com/media/1497896/1.pdf

Encl: The unaudited summary financial information of the Company for the three months ended March 31, 2021. 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 113,805 MW and equity-based generation capacity of 99,570 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.

For enquiries, please contact:
Huaneng Power International, Inc.                   
Ms. ZHU Tao / Ms. ZHAO Lin / Mr. CHEN Zhelu
Tel: (8610) 6608 6750 / 6322 6596 / 6322 6554
Fax: (8610) 6322 6888
Email: zqb@hpi.com.cn

Wonderful Sky Financial Group Limited
Ms. Peri Yang / Mr. Ken Yu
Tel: (852) 3641 1332
Fax: (852) 3102 0210
Email: hpi@wsfg.hk

View original content:http://www.prnewswire.com/news-releases/huaneng-power-international-inc-rmb-3-127-billion-net-profit-attributable-to-equity-holders-for-the-first-quarter-of-2021-increased-by-51-75-301278114.html

SOURCE Huaneng Power International, Inc.

FAQ

What are Huaneng Power International's Q1 2021 financial results?

Huaneng Power International reported Q1 2021 revenue of RMB 49.909 billion, a 23.59% increase, with net profit of RMB 3.127 billion, up 51.75%.

What is the net profit for Huaneng Power International in Q1 2021?

The net profit attributable to equity holders for Q1 2021 was RMB 3.127 billion, approximately USD 476 million.

How much did Huaneng Power International earn per share in Q1 2021?

Earnings per share for Q1 2021 were RMB 0.17, with earnings per ADS at RMB 6.62.

What contributed to Huaneng Power International's increased profit in Q1 2021?

The increase in net profit was mainly due to higher domestic electricity sales.

Where can I find detailed financial statements for Huaneng Power International?

Detailed financial statements are available through the link provided in the press release.