Huaneng Power International, Inc. 2013 First Quarter Net Profit Increasing 177.77% YOY

  Huaneng Power International, Inc. 2013 First Quarter Net Profit Increasing
                                 177.77% YOY

PR Newswire

BEIJING, April 23, 2013

BEIJING, April 23, 2013 /PRNewswire/ -- Huaneng Power International, Inc.
("HPI", the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its
unaudited results for the three months ended March 31, 2013.

Under the PRC GAAP, the Company realized consolidated operating revenue of
RMB32.136 billion for the first quarter of 2013, representing a decrease of
6.20% over the same period last year. Consolidated net profit attributable to
the shareholders of the Company was RMB2.554 billion, representing an increase
of 177.77% over the same period last year. The increase is mainly attributable
to the decrease of fuel cost compared with the same period last year.

Unit 3 of Huaneng Jinling Combined Cycle Cogeneration Power Plant (191 MW) (of
which the Company has 51% equity interest) has recently completed trial run.
To-date, the controlled generation capacity of the Company has increased to
66,150 MW, and the equity-based power generation capacity has increased to
59,058 MW.

Encl: The unaudited summary financial information of the Company for the three
months ended March 31, 2013. 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 "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 the Company
The Company is one of China's largest listed power producers with controlled
generation capacity of 66,150 MW and equity-based generation capacity of
59,058 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:zqb@hpi.com.cn

Wonderful Sky Financial Group Limited
Ms. Linda Wong / Ms. Olive Zhang/ Ms. Erica Tao / Ms. Irene Gao /Ms. Shine Li
Tel:(852) 2851 1038
Fax:(852) 2865 1638
Email: lindawong@wsfg.hk / olivezhang@wsfg.hk / ericatao@wsfg.hk /
irenegao@wsfg.hk / shineli@wsfg.hk

HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED BALANCE SHEETS
(PRC GAAP)
AS AT 31 MARCH, 2013
(Amounts expressed in thousands)
                                  As at                        As at
                                  31 March, 2013               31 December,
                                                               2012
                                  RMB           US$           RMB
ASSETS
CURRENT ASSETS
Cash                              11,113,842     1,772,854     10,624,497
Held for trading financial assets -              -             93,753
Derivative financial assets       64,621         10,308        55,268
Notes receivable                  762,214        121,587       357,590
Accounts receivable               13,911,857     2,219,186     14,942,374
Advances to suppliers             1,073,372      171,222       1,010,888
Interest receivables              458            73            65
Dividends receivable              50,000         7,976         50,000
Other receivables                 1,096,633      174,932       939,847
Inventories                       7,439,615      1,186,750     7,022,384
Current portion of non-current    14,368         2,292         13,745
assets
Other current assets              39,327         6,273         34,661
Total current assets              35,566,307     5,673,453     35,145,072
NON-CURRENT ASSETS
Available-for-sale financial      1,913,669      305,264       1,769,435
assets
Derivative financial assets       16,016         2,555         13,723
Long-term receivables             811,308        129,418       823,941
Long-term equity investment       15,833,981     2,525,799     15,653,316
Fixed assets                      160,683,773    25,631,893    159,363,081
Fixed assets pending for disposal 94,174         15,022        93,245
Construction-in-progress          15,366,672     2,451,255     17,947,373
Construction materials            908,365        144,900       708,874
Intangible assets                 10,269,782     1,638,211     10,362,011
Goodwill                          13,641,215     2,176,014     13,839,913
Long-term deferred expenses       159,894        25,506        158,096
Deferred income tax assets        595,477        94,989        672,840
Other non-current assets          311,301        49,658        310,949
Total non-current assets          220,605,627    35,190,484    221,716,797
TOTAL ASSETS                      256,171,934    40,863,937    256,861,869
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES
Short-term loans                  23,404,871     3,733,489     27,442,076
Derivative financial liabilities  46,931         7,486         88,641
Notes payable                     2,409          384           54,874
Accounts payable                  8,559,728      1,365,427     7,299,387
Advances from customers           74,208         11,837        161,329
Salary and welfare payables       196,472        31,341        217,967
Taxes payable                     584,815        93,288        (207,186)
Interest payables                 844,068        134,644       897,839
Dividends payable                 66,091         10,543        70,839
Other payables                    9,610,525      1,533,048     10,246,266
Current portion of non-current    8,991,921      1,434,370     9,056,703
liabilities
Provision                         163,512        26,083        157,263
Other current liabilities         36,068,004     5,753,483     35,796,676
Total current liabilities         88,613,555     14,135,423    91,282,674
NON-CURRENT LIABILITIES
Long-term loans                   69,834,589     11,139,847    72,564,824
Derivative financial liabilities  751,893        119,940       837,005
Bonds payable                     24,400,011     3,892,232     22,884,688
Long-term payables                203,671        32,489        255,889
Specific accounts payable         50,052         7,984         50,865
Deferred income tax liabilities   1,785,121      284,758       1,776,203
Other non-current liabilities     2,262,685      360,939       2,291,481
Total non-current liabilities     99,288,022     15,838,189    100,660,955
TOTAL LIABILITIES                 187,901,577    29,973,612    191,943,629
SHAREHOLDERS' EQUITY
Share capital                     14,055,383     2,242,081     14,055,383
Less: Treasury Stock              -              -             -
Capital surplus                   17,244,274     2,750,766     17,034,532
Special reserves                  51,408         8,200         37,496
Surplus reserves                  7,131,700      1,137,632     7,131,700
Undistributed profits             19,704,387     3,143,197     17,357,616
Currency translation differences  (260,339)      (41,529)      (35,937)
Shareholder's equity attributable
to
                                  57,926,813     9,240,347     55,580,790
 shareholders of the Company
Non-controlling interests         10,343,544     1,649,978     9,337,450
Total shareholders' equity        68,270,357     10,890,325    64,918,240
TOTAL LIABILITIES AND
SHAREHOLDER'S
EQUITY                            256,171,934    40,863,937    256,861,869
For the convenience of the reader, translation of amounts from Renminbi (Rmb)
into United States dollars (US$) has been made at the rate of
US$1.00=Rmb6.2689 announced by the People's Bank of China on March 29, 2013.
No representation is made that Renminbi amounts could have been, or could be,
converted into United States dollars at that rate as of March 31, 2013, or at
any other certain rate.



HUANENG POWER INTERNATIONAL, INC.
UNAUDITED CONSOLIDATED INCOME
STATEMENTS (PRC GAAP)
FOR THE FIRST QUARTER ENDED 31 MARCH,
2013
(Amounts expressed in thousands, except per share
data)
                                        For the first quarter ended 31 March
                                        2013                       2012
                                        RMB            US$         RMB
1. Operating revenue                    32,136,096     5,126,274   34,261,273
 Less:Operating cost                 24,944,125     3,979,027   29,787,487
 Tax and levies on        252,015        40,201      164,177
operations
 Selling expenses         5,088          812         1,895
 General and              773,509        123,388     710,198
administrative expenses
 Financial expenses       1,933,835      308,481     2,301,864
 Assets impairment loss   (376)          (60)        (641)
(reversal)
 Add: Income (loss) on fair value
changes of                              (1,413)        (225)       (326)

financialassets/liabilities
 Investment income        105,677        16,857      263,978
 Including: Investment
income from
          98,245         15,672      143,400
associatesand a jointly

controlled entities
2. Operating profit                     4,332,164      691,057     1,559,945
 Add: Non-operating income          54,774         8,737       92,388
 Less:Non-operating expenses         21,181         3,379       6,086
 Including: Loss on
disposals of                            835            133         1,280

non-current assets
3. Profit before taxation               4,365,757      696,415     1,646,247
 Less: Income tax expense            1,075,503      171,562     485,180
4. Net profit                           3,290,254      524,853     1,161,067
 Attributable to:
 Shareholders of the Company    2,553,658      407,353     919,359
 Non-controlling interests      736,596        117,500     241,708
5. Earnings per share (based on the net
profit
 attributable to shareholders of
the
 Company)
 (expressed in RMB per share)
 - Basic earnings per share          0.18           0.03        0.07
 - Diluted earnings per share        0.18           0.03        0.07
6. Other comprehensive income (loss)    (18,640)       (2,973)     509,026
7. Total comprehensive income           3,271,614      521,880     1,670,093
 Attributable to:
 Shareholders of the Company    2,535,303      404,425     1,427,542
 Non-controlling interests      736,311        117,455     242,551
For the convenience of the reader, translation of amounts from Renminbi (Rmb)
into United States dollars (US$) has been made at the rate of
US$1.00=Rmb6.2689 announced by the People's Bank of China on March 29, 2013.
No representation is made that Renminbi amounts could have been, or could be,
converted into United States dollars at that rate as of March 31, 2013, or at
any other certain rate.





SOURCE Huaneng Power International, Inc.
 
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