Huaneng Power International, Inc. Profit In 2012 Based On China Accounting Standards Is Expected To Increase By More Than 340%
Huaneng Power International, Inc. Profit In 2012 Based On China Accounting Standards Is Expected To Increase By More Than 340% PR Newswire BEIJING, Jan. 27, 2013 BEIJING, Jan. 27, 2013 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI" or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) announced its estimated annual results of 2012. 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 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 2012 based on China Accounting Standards is expected to increase by more than 340% compared to the same period last year. The estimated profit increase was primarily due to the carryover effect of the tariff adjustments in 2011, the decrease of coal price in 2012 and effective cost controls by the Company. Relevant financial data of the Company is still under audit process as the power plants of the Company are widely situated in many provinces and cities across the country and the Company owns assets within and outside the country. Please refer to the audited financial information set out in the 2012 Annual Report to be formally disclosed by the Company for detailed and final financial information. Detailed financial information will be disclosed by the Company in its 2012 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 62,756MW and equity-based generation capacity of 56,572MW. 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: firstname.lastname@example.org Wonderful Sky Financial Group Limited Ms. Linda Wong / Ms. Yolanda Wang / Mr. Daniel Xu / Ms. Irene Gao Tel: (852) 2851 1038 Fax: (852) 2865 1638 Email: email@example.com / firstname.lastname@example.org / email@example.com / firstname.lastname@example.org SOURCE Huaneng Power International, Inc.