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Utilities

Huaneng Power International, Inc.

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 business segments: PRC Power, Singapore, and All Other. The All Other segment is mainly comprised of port and transportation operations. The company was founded on June 30, 1994 and is headquartered in Beijing, China.

Financial Highlights

Dec 2019 HKDUSD
Revenue195,233.68M24,917.51M
Gross Profit33,175.17M4,234.12M
Operating income21,048.42M2,686.39M
Income before tax2,192.81M279.86M
Net income91.19M11.63M
EBITDA45,956.94M5,865.44M
Diluted EPS0.000.00
Dividends Per Share0.140.01
Total Assets482,805.88M61,963.33M
Total liabilities363,437.82M46,643.62M
Total equity93,599.49M12,012.56M
Operating cash flow30,040.77M3,834.07M
Currency in HKDCurrency in USD

Historical Data

 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 157,573.59M 131,606.47M 174,211.97M 198,705.91M 195,233.68M
Gross Profit 46,949.86M 29,925.59M 22,305.61M 24,334.91M 33,175.17M
Operating income 37,459.20M 22,776.51M 11,926.58M 13,807.09M 21,048.42M
Income before tax 26,436.05M 14,621.88M 2,740.33M 177.35M 2,192.81M
Net income 16,839.39M 9,955.42M 1,821.68M 464.40M 91.19M
EBITDA 55,235.67M 40,087.35M 35,196.83M 38,048.63M 45,956.94M
Diluted EPS 1.16 0.65 0.11 0.03 0.00
Dividends Per Share 0.56 0.32 0.11 0.11 0.14
Total Assets 368,633.81M 351,248.25M 476,084.02M 482,536.19M 482,805.88M
Total liabilities 247,261.80M 237,244.49M 352,983.09M 361,607.85M 363,437.82M
Total equity 100,423.91M 95,948.50M 99,124.39M 96,198.27M 93,599.49M
Operating cash flow 42,089.66M 29,485.33M 23,669.38M 22,156.95M 30,040.77M
 Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019
Revenue 20,325.32M 16,954.22M 22,355.45M 25,353.07M 24,917.51M
Gross Profit 6,056.03M 3,855.16M 2,862.33M 3,104.91M 4,234.12M
Operating income 4,831.84M 2,934.18M 1,530.45M 1,761.66M 2,686.39M
Income before tax 3,409.97M 1,883.66M 351.64M 22.62M 279.86M
Net income 2,172.10M 1,282.50M 233.76M 59.25M 11.63M
EBITDA 7,124.81M 5,164.26M 4,516.57M 4,854.66M 5,865.44M
Diluted EPS 0.15 0.08 0.01 0.00 0.00
Dividends Per Share 0.07 0.04 0.01 0.01 0.01
Total Assets 47,564.72M 45,303.94M 60,901.33M 61,631.70M 61,963.33M
Total liabilities 31,904.12M 30,599.75M 45,154.09M 46,186.19M 46,643.62M
Total equity 12,957.67M 12,375.42M 12,680.13M 12,286.87M 12,012.56M
Operating cash flow 5,429.12M 3,798.45M 3,037.33M 2,827.02M 3,834.07M

Valuation Measures

Dec 2019
PER607.28
ROA0.01%
ROE0.09%
Operating margin10.78%
Profit margin0.04%

Key executives

  • General Manager & Executive Director: Ping Zhao
  • Chief Financial Officer & Chief Accountant: Li Xin Huang
  • Board Secretary & Vice President: Chao Quan Huang
  • Securities Representative: Jing Meng

Shareholders

  • China State-Owned Assets Supervision & Admn Commission (12.5%)
  • Shanghai Chongyang Strategic Investment Co. Ltd. (10.4%)
  • Shanghai Chongyang Investment Management Co., Ltd. (4.5%)
  • The Vanguard Group, Inc. (3.0%)
  • BlackRock Fund Advisors (1.8%)
  • JPMorgan Asset Management (Asia Pacific) Ltd. (1.3%)
  • BlackRock Investment Management (UK) Ltd. (0.7%)
  • LUO YI FAMILY (0.6%)
  • Dimensional Fund Advisors LP (0.5%)
  • BlackRock Advisors (UK) Ltd. (0.4%)

Contact Details

  • Website:http://www.hpi.com.cn
  • Address: Huaneng Building, No. 6 Fuxingmen Inner Street, Beijing, 100031, China
  • Phone: +86.10.6322.6999

Related Companies

  • Huaneng Shandong (Hong Kong) Investment Ltd. Co.
  • Daqing Lvyuan Wind Power Generation Ltd. Co.
  • Huaneng (Fujian) Port Ltd. Co.
  • Huaneng (Huzhou Development Zone) Photovoltaic Power Genera
  • TP-STM Water Services Pte Ltd.
  • Huaneng Guizhou Panzhou State City Wind Power Co., Ltd.
  • Wuzhai Taizhong New Energy Wind Power Ltd. Co.
  • Shuozhou Taizhong Wind Power LLC
  • Poyang Luohong Power Co., Ltd.
  • Shangrao Hongyuan Power Co., Ltd.
  • Huaneng Sihong New Energy Co., Ltd.
  • Huaneng Luobei Wind Power Co., Ltd.
  • Huaneng Guanling New Energy Power Generation Co., Ltd.
  • Huaneng Jiangkou Wind Power Co., Ltd.
  • Huaneng (Heze Dongming) New Energy Co., Ltd.
  • Huaneng Zhenping Clean Energy Co., Ltd.
  • Huaneng Taiqian Wind Power Co., Ltd.
  • Huaneng Sheyang New Energy Power Generation Co., Ltd.
  • Huaneng Wulian New Energy Ltd. Co.
  • Huaneng Jiyang Biomass Thermal Power Co., Ltd.
  • Huaneng (Tianjin) Energy Sales Co., Ltd.
  • Huaneng Qingneng Tongyu Power Co., Ltd.
  • Huaneng (Anhui Shitai) Wind Power Co., Ltd.
  • Huaneng Xiayi Wind Power Co., Ltd.
  • Huaneng Ruicheng Comprehensive Energy Co., Ltd.
  • Huaneng Yangqu Wind Power Co., Ltd.
  • Huaneng (Shanghai) Photovoltaic Power Co., Ltd.
  • Shengdong Rudong Offshore Wind Power Co., Ltd.
  • Huaneng Zhejiang Ruian Offshore Wind Power Co., Ltd.
  • Huaneng Zhejiang Cangnan Offshore Wind Power Co., Ltd.

Competitors

  • Sembcorp Industries Ltd.
  • YTL Power International Bhd.
  • Chevron Corporation
  • Exxon Mobil Corporation
  • TPI Composites, Inc.
Last Updated on 10 Aug, 2020

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