Huaneng Power International, Inc. Net Profit Attributable To Equity Holders Of The Company In 2020 Amounted To Rmb 2.378 Billion Year-on-year Increase 210.28%

HONG KONG, March 23, 2021 /PRNewswire/ -- Huaneng Power International, INC (hereinafter referred to as "Huaneng International" or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) is pleased to announce the audited operating results of the Company for the year ended 31 December 2020 prepared in accordance with IFRS(International Financial Reporting Standards): the Company realized consolidated operating revenue of RMB169.446 billion (calculated based on the conversion price of USD to RMB on December 31, 2020, 1 US dollar to RMB6.5249, equivalent to approximately US $25.969 billion), representing a decrease of 2.62% compared to the same period last year, and net profit attributable to equity holders of the Company amounted to RMB2.378 billion (equivalent to approximately US $0.364 billion), representing an increase of 210.28% as compared with the same period last year. Earnings per share amounted to RMB0.04 (equivalent to approximately US $0.006). Earnings per American Depositary Share (ADS) amounted to RMB1.55 (equivalent to approximately US$0.237). The main reason for the increase of the Company's net profit was the year-on-year decrease in domestic coal purchase prices and financial expenses. The Board is satisfied with the Company's results last year.

The Board proposed to declare a 2020 cash dividend of RMB0.18 (inclusive of tax) for each ordinary share of the Company held by shareholders.

In 2020, facing up to the impacts and challenges of the COVID-19 pandemic, the Company fully coordinated the work of epidemic prevention and control, production and operation, reform and development. Through the efforts of overcoming difficulties and fighting courageously, the pandemic prevention and control made major progress, safety production and business performance maintained steady, restructuring continued to optimize, new energy construction achieved significant results, scientific innovation achieved new progress and enterprise reform was deeply promoted. We have successfully completed the major objectives of the year.

In 2020, total power generated by the Company's domestic operating power plants on consolidated statements basis amounted to 404.016 billion kWh, representing a year-on-year decrease of 0.24%. The electricity sold amounted to 379.894 billion KWh, representing a year-on-year decrease of 2.14%. The annual average utilization hours of the Company's domestic power plants reached 3,744 hours, representing a year-on-year decrease of 171 hours. The utilization hours of coal-fired power generating units was 4,059 hours, representing a year-on -year decrease of 163 hours. In most of the areas where the Company's coal-fired power plants are located, the utilization hours of the Company were in a leading position. Total heat supplied by the Company amounted to 263 million GJ, representing a year-on-year increase of 11.18%.

In 2020, the Company procured an aggregate of 171 million tons of coal. By accurately judging coal market trends, optimizing procurement strategy and regional supply structure, reinforcing cooperation with major coal enterprises, targeting high-quality low-cost resources on an advanced basis, the Company lowered the unit price of standard coal purchase effectively and relatively well control the fuel procurement cost of the Company. The unit fuel cost of our domestic power plants throughout the year incurred for sales of power was RMB209.07/MWh, representing a year-on-year decrease of 6.34%.

In 2020, the Company maintained a leading position among major domestic thermal power producers, with the average equivalent availability ratio of the domestic thermal generating units of the Company of 94.92%, coal consumption of production power supply of 291.08g/kWh and the house consumption rate of plants of 4.33%. With respect to air pollution emissions, the power generation companies affiliated to the Company have carried out ultra-low-emissions transformation as planned with marked results. All of them have met or outperformed the national emission standards. With respect to treatment of wastewater discharge and coal yards and ash yards, the Company has allocated funds to carry out environmental technological transformation projects such as wastewater treatment, coal yard closure, and ash yard transformation in power plants in key regions. All power plants have accelerated environmental protection transformation projects to ensure that pollutant emissions meet the requirements under pollution discharge permits and other ecological and environmental protection policies.

The Company progressed smoothly in the construction of power supply projects. During the year, the controlled generation capacity of the newly commissioned thermal generating units, wind generating units, photovoltaic units and biomass units was 1,925.04 MW, 2,177.9 MW, 771.93 MW and 65 MW respectively. As of December 31, 2020, the Company's controlled and equity-based generation capacity was 113,357 MW and 98,948 MW, respectively.

Tuas Power Ltd. ("Tuas Power"), a wholly-owned subsidiary of the Company in Singapore, maintained safe and stable operation of the generation units throughout the year. The total market share of Tuas Power in the power generation market for the whole year was 21.4%, representing a year-on-year increase of 0.7 percentage point. The Singapore project (SinoSing Power and Tuas Power combined) recorded a pre-tax profit of RMB131 million, representing a turnaround of RMB700 million compared with the loss of RMB569 million at the same period of last year. The Company invests in a power enterprise located in Pakistan. Sahiwal coal-fired power plant recorded a pre-tax profit of RMB738 million for 2020, representing a decrease of RMB1 million compared to the same period of last year.

In 2021, the Company will regard intrinsic safety as the foundation with a clean and low-carbon direction, focusing on quality and efficiency, taking scientific and technological innovation as the guide and intensifying reform as a means to prevent and control risks, transform and develop, and improve operational efficiency. The power generation is expected to reach 410 billion kWh, with a goal to build a world-class listed power generation company so as to further enhance its competitiveness and create more value for its shareholders.

Appendix: Consolidated financial information of the Company and its subsidiaries for 2020 prepared in accordance with the International Financial Reporting Standards.

About Huaneng Power International, Inc.
Huaneng Power International, Inc. is one of China's largest listed power producers with controlled generation capacity of 113,357 MW and equity-based generation capacity of 98,948 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: [email protected]

Wonderful Sky Financial Group Limited
Ms. Peri Yang / Ms. Karly Lai
Tel: (852) 3641 1332 / (852) 3970 2286
Fax: (852) 3102 0210
Email: [email protected]

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=RMB6.5249 announced by the People's Bank of China on Dec 31, 2020. No representation is made that Renminbi amounts could have been, or could be, converted into United States dollars at that rate as at Dec 31, 2020, or at any other certain rate.

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=RMB6.5249 announced by the People's Bank of China on Dec 31, 2020. No representation is made that Renminbi amounts could have been, or could be, converted into United States dollars at that rate as at Dec 31, 2020, or at any other certain rate.

SOURCE Huaneng Power International, Inc.