Tuesday, Huaneng Power International, Inc. (HNP), an owner and operator of power plants primarily in China, announced interim operating results for the six months ended June 30, reporting a profit, compared to a loss in the same period last year, as operating revenue increased.
The Beijing-based company said profit attributable to equity holders for the six-month period was RMB1.87 billion, compared to a loss attributable to equity holders of RMB543.8 million a year ago. Earnings per share for the six-month period amounted to RMB0.16 or RMB6.21 per American Depositary Share, equivalent to approximately US$0.91.
In U.S. Dollars, earnings for the most recent six-months amounted to about $274 million or $0.02 per share.
Operating revenue grew by 9.07% to RMB33.61 billion or approximately US$4.92 billion from the same period last year.
Total power generation was 86.107 billion kWh, down 5.84% over the same period of last year. The company attributed the decrease to declining power demand due to international financial crisis and reduced number of utilization hours due to commencement of new power generating units in China.
During the quarter, the company adopted various measures including optimizing the coal supply structure, increasing imported coal purchase volume and rationalizing inventories arrangements according to production requirements, with an aim to reduce average coal purchase prices.
Huaneng said since 2009, coal supply tended to be eased from a tight situation. Coal prices were lower than those of the same period of last year. The unit fuel cost for the domestic business of the company for the first half of the year was RMB220.82/MWh, down 2.63% from the same period of last year.
Looking ahead, the company said that intensified competition from new power generating units, strengthening of environmental protection standards by the State, and focus on development of clean energy are expected increase the operating pressure on the company.
HNP is currently down $0.77 or 2.27% and trades at $33.08.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.