Huaneng Power International, Inc.

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Company Background

Huaneng Power International is a major Chinese state-owned electric power company. It is a unit of state giant China Huaneng Group and one of the country's five biggest electric utilities, which include China Datong and China Guodian. China Huaneng is the largest of the five in terms of business scale.

Huaneng Power is active nationwide, engaging in developing, constructing and managing power-generation facilities. It also has business operations in the areas of finance, coal mining, transport and new energy.

China Huaneng, established in 1985, founded Huaneng Power as its core subsidiary in 1994.

Huaneng Power has a strong business base protected by the government's market entry regulations. Because the big five power players dominate the domestic market for electricity, Huaneng Power enjoys stable earnings.

Huaneng Power recently purchased a power producer in Singapore as part of its aggressive overseas expansion push.

Under the strong influence of former Chinese Premier Li Peng and his family, Huaneng Power is known to be at the center of the "electric power clique." It has made considerable use of the extensive human networks it has established in political and business circles.

The company is drawing keen attention as a possible target of Chinese President Xi Jinping's anti-corruption campaign.

Business Summary

Huaneng Power International, Inc. engages in the sale of electricity and generation of power through the development and operation of power plants. It operates through the following segments: PRC Power, Overseas, and All Other. The All Other segment includes port and transportation operations. The company was founded on June 30, 1994 and is headquartered in Beijing, China.

Financial Highlights

Dec 2021	HKD	USD
Revenue	244,559.89M	31,463.40M
Gross Profit	3,784.19M	486.84M
Operating income	-11,822.67M	-1,521.02M
Income before tax	-19,193.02M	-2,469.24M
Net income	-15,394.89M	-1,980.60M
EBITDA	15,101.90M	1,942.90M
Diluted EPS	-0.81	-0.10
Dividends Per Share	0	0
Total Assets	612,576.22M	78,572.68M
Total liabilities	508,427.34M	65,213.93M
Total equity	79,059.45M	10,140.63M
Operating cash flow	7,271.03M	935.44M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	174,211.97M	198,705.91M	195,233.68M	188,389.81M	244,559.89M
Gross Profit	22,305.61M	24,334.91M	33,175.17M	36,059.44M	3,784.19M
Operating income	11,926.58M	13,807.09M	21,048.42M	23,308.51M	-11,822.67M
Income before tax	2,740.33M	177.35M	2,192.81M	3,370.42M	-19,193.02M
Net income	1,821.68M	464.40M	91.19M	682.51M	-15,394.89M
EBITDA	35,196.83M	38,048.63M	45,956.94M	48,338.21M	15,101.90M
Diluted EPS	0.11	0.07	0.06	0.29	-0.81
Dividends Per Share	0.11	0.11	0.14	0.21	0
Total Assets	476,084.02M	482,536.19M	480,922.21M	534,502.26M	612,576.22M
Total liabilities	352,983.09M	361,607.85M	361,554.16M	412,148.43M	508,427.34M
Total equity	99,124.39M	96,198.27M	93,599.49M	96,542.11M	79,059.45M
Operating cash flow	23,669.38M	22,156.95M	30,040.77M	34,848.41M	7,271.03M

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	22,355.45M	25,353.07M	24,917.51M	24,289.57M	31,463.40M
Gross Profit	2,862.33M	3,104.91M	4,234.12M	4,649.23M	486.84M
Operating income	1,530.45M	1,761.66M	2,686.39M	3,005.22M	-1,521.02M
Income before tax	351.64M	22.62M	279.86M	434.55M	-2,469.24M
Net income	233.76M	59.25M	11.63M	87.99M	-1,980.60M
EBITDA	4,516.57M	4,854.66M	5,865.44M	6,232.36M	1,942.90M
Diluted EPS	0.01	0.00	0.00	0.03	-0.10
Dividends Per Share	0.01	0.01	0.01	0.02	0
Total Assets	60,901.33M	61,631.70M	61,721.58M	68,933.79M	78,572.68M
Total liabilities	45,154.09M	46,186.19M	46,401.87M	53,154.03M	65,213.93M
Total equity	12,680.13M	12,286.87M	12,012.56M	12,450.86M	10,140.63M
Operating cash flow	3,037.33M	2,827.02M	3,834.07M	4,493.09M	935.44M

Valuation Measures

Dec 2021
PER	--
ROA	-2.68%
ROE	-17.53%
Operating margin	-4.83%
Profit margin	-6.29%

Key executives

President & Executive Director: Ping Zhao
Chief Financial Officer & Chief Accountant: Li Xin Huang
Chief Engineer: Wei Liu
Secretary & Vice President: Chao Quan Huang
Investor Relations Contact: Zhelu Chen

Shareholders

First Seafront Fund Management Co., Ltd. (14.7%)
China State-Owned Assets Supervision & Admn Commission (12.8%)
Shanghai Chongyang Strategic Investment Co. Ltd. (4.3%)
The Vanguard Group, Inc. (2.8%)
BlackRock Fund Advisors (1.6%)
BlackRock Investment Management (UK) Ltd. (1.2%)
Ping An Fund Management Co., Ltd. (0.9%)
LUO YI FAMILY (0.8%)
HuaAn Fund Management Co., Ltd. (0.5%)
Fuanda Fund Management Co., Ltd. (0.5%)

Contact Details

Website:http://www.hpi.com.cn
Address: Huaneng Building, 6 Fuxingmen Inner Street, Beijing, 100031, China
Phone: +86.10.6322.6999

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Competitors

Sembcorp Industries Ltd.
Marubeni Corporation
YTL Power International Bhd.
EN+ Group International Public Joint-Stock Company
Tien Li Offshore Wind Technology Co., Ltd.
TPI Composites, Inc.

Last Updated on 8 Aug, 2022