Huaneng Power Intl

By: EconomyWatch   Date: 17 July 2010

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Huaneng Power International Inc. (in short: Huaneng) is one of biggest power producers in People's Republic of China. It is engaged in developing, constructing and operating large power plants. Huaneng Power Intl is ranked #701 on 2008 Forbes Global 2000 list.
Huaneng Power International is an independent power producer. It is listed in three stock exchanges: Shanghai Stock Exchange (SSE: 600011), Hong Kong Stock Exchange (SEHK: 0902) and New York Stock Exchange (NYSE: HNP).

Brief history
Huaneng Power International was founded on 30th June, 1994. It completed a worldwide initial public offering on October, same year. 1,250,000,000 shares were issued. This shares, represented by 31,250,000 American Depository Receipts (ADR) were listed on New York Stock Exchange. Huaneng Power International became listed on Hong Kong Stock Exchange in 1998.

Huaneng Power International with its subsidiary companies own and control 16 operating power plants. It also has controlling interest in 13 power generating entities and minority interest in 4 companies . All power generating stations are modern and function at optimum efficiency. An experienced management team and higher quality employee base forms its core strengths.

Principal shareholder of Huaneng Power International is Huaneng International Power Development Corporation (HIPDC). It is a Sino-foreign joint venture.

Products and services
Huaneng Power International gets its revenues from developing, constructing and operating large power plants in People's Republic of China. All power plants employ modern technological methods for generating maximum power. Huaneng invites domestic as well as international capital. It built mainland China's first 600 MW supercritical power generation unit. Huaneng Yuhuan power plant is an ultra-critical coal-fired unit with 1000 MW generating capacity.

Financials
In 2007, total sales of Huaneng Power International was around USD 8.134630114 billion. Profits were calculated to be nearly USD 0.373915121 billion. Total assets were calculated to be worth around USD 22.554182 billion. Employee strength of this firm is around 22,899

Awards and recognition
Huaneng Dalian power plant, designed and constructed by Huaneng Power International, received 'First Rate Thermal Power Plant' title from Chinese government. Huaneng Power International received 'First Rate Power Company in China' title awarded by State Power Corporation.


Current financial crisis
On year-on-year comparison basis, Huaneng Power International suffered a sharp drop in net profit (80 percent) in first quarter of 2008. This was mainly due to an increase in coal prices.


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