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 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	HKD	USD
Revenue	195,233.68M	24,917.51M
Gross Profit	33,175.17M	4,234.12M
Operating income	21,048.42M	2,686.39M
Income before tax	2,192.81M	279.86M
Net income	91.19M	11.63M
EBITDA	45,956.94M	5,865.44M
Diluted EPS	0.00	0.00
Dividends Per Share	0.14	0.01
Total Assets	482,805.88M	61,963.33M
Total liabilities	363,437.82M	46,643.62M
Total equity	93,599.49M	12,012.56M
Operating cash flow	30,040.77M	3,834.07M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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 2015	Dec 2016	Dec 2017	Dec 2018	Dec 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
PER	607.28
ROA	0.01%
ROE	0.09%
Operating margin	10.78%
Profit margin	0.04%

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

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Competitors

Sembcorp Industries Ltd.
YTL Power International Bhd.
Chevron Corporation
Exxon Mobil Corporation
TPI Composites, Inc.

Last Updated on 10 Aug, 2020