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Huaneng Power International, Inc. Announces Operating Results For 2011

Stocks in this article: HNP

BEIJING, March 20, 2012 /PRNewswire-Asia/ -- Huaneng Power International, Inc. ("HPI", the "Company") (NYSE: HNP, FHKEx: 902, FSSE: 600011) today announced its audited annual operating results for the twelve months ended December 31, 2011 prepared under the International Financial Reporting Standards, in which the Company recorded consolidated operating revenue of RMB 133.421 billion (equivalent to approximately USD 21.175 billion, based on the exchange rate of USD 1 to RMB 6.3009 as of December 31, 2011), representing an increase of 27.90% over 2010, and net profit attributable to equity holders of the Company of RMB 1.181 billion (equivalent to approximately USD 0.187 billion), representing a decrease of 64.74% over 2010. Earnings per share amounted to RMB 0.08 (equivalent to approximately USD 0.01), and earnings per ADS amounted to RMB 3.20 (equivalent to approximately USD 0.51). The Board is satisfied with the Company's operating results in 2011.

The Board of the Company proposed to declare a cash dividend of RMB 0.05 (inclusive of tax) for each ordinary share of the Company held by shareholders.

In 2011, the Company attained new progress on many aspects including power generation, energy saving and environmental protection, project development and oversea operation. In respect of domestic operations, despite the unfavorable conditions from sustained increases in fuel prices and Renminbi lending rates, the management and employees of the Company seized opportunities, worked diligently to tackle the adversities, and fulfilled the duties of providing sufficient, reliable and green energy to the society. In respect of overseas operation, the operating results of Tuas Power in Singapore in 2011 improved significantly, thus making important contributions to the overall profit of the Company.

In 2011, total power generated by the Company's operating power plants in China amounted to 313.554 billion kWh, representing an increase of 22.03% compared to the same period last year. The electricity sold amounted to 295.717 billion kWh, representing an increase of 22.30% compared to the same period last year. The annual average utilization hours of the Company's domestic thermal generating units reached 5,552 hours, representing an increase of 133 hours compared to the same period last year and 258 hours higher than the average utilization hours of the thermal generating units in China.

In 2011, the Company purchased a total of 145 million tons of natural coal. The Company continued to enhance the communication and coordination with major contracted suppliers, leverage on it to actively explore new sources and supply channels for coal, and has effectively secured our coal supply. In addition, by capitalizing on the internal resources within China Huaneng Group, the Company has increased its imports of coal, which has helped to control the coal purchasing cost effectively. The unit fuel cost of power sold of the Company's domestic power plants was RMB 270.37 per MWh, representing an increase of 9.24% compared to last year.

In 2011, the Company led the industry in terms of technical and economic indicators and energy consumption indicator. The average equivalent availability ratio of the Company's domestic power plants was 94.23%, and its weighted average house consumption rate was 5.03%. The Company's average coal consumption rate for the power generated by coal-fired generating units was 296.40 grams/kWh, 1.14 grams/kWh lower than that of the same period last year. The Company's average coal consumption rate for power sold was 312.10 grams/kWh, representing a decrease of 3.49 grams/kWh from 2010.

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