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 engages in port and transportation operations. The company was founded on June 30, 1994 and is headquartered in Beijing, China.

Financial Highlights

Dec 2020	HKD	USD
Revenue	188,389.81M	24,289.57M
Gross Profit	36,059.44M	4,649.23M
Operating income	23,308.51M	3,005.22M
Income before tax	3,370.42M	434.55M
Net income	682.51M	87.99M
EBITDA	48,338.21M	6,232.36M
Diluted EPS	0.29	0.03
Dividends Per Share	0.21	0.02
Total Assets	534,502.26M	68,933.79M
Total liabilities	412,148.43M	53,154.03M
Total equity	96,542.11M	12,450.86M
Operating cash flow	34,848.41M	4,493.09M
	Currency in HKD	Currency in USD

Historical Data

HKD | USD

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020
Revenue	131,606.47M	174,211.97M	198,705.91M	195,233.68M	188,389.81M
Gross Profit	29,925.59M	22,305.61M	24,334.91M	33,175.17M	36,059.44M
Operating income	22,776.51M	11,926.58M	13,807.09M	21,048.42M	23,308.51M
Income before tax	14,621.88M	2,740.33M	177.35M	2,192.81M	3,370.42M
Net income	9,955.42M	1,821.68M	464.40M	91.19M	682.51M
EBITDA	40,087.35M	35,196.83M	38,048.63M	45,956.94M	48,338.21M
Diluted EPS	0.57	0.11	0.07	0.06	0.29
Dividends Per Share	0.32	0.11	0.11	0.14	0.21
Total Assets	351,248.25M	476,084.02M	482,536.19M	480,922.21M	534,502.26M
Total liabilities	237,244.49M	352,983.09M	361,607.85M	361,554.16M	412,148.43M
Total equity	95,948.50M	99,124.39M	96,198.27M	93,599.49M	96,542.11M
Operating cash flow	29,485.33M	23,669.38M	22,156.95M	30,040.77M	34,848.41M

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020
Revenue	16,954.22M	22,355.45M	25,353.07M	24,917.51M	24,289.57M
Gross Profit	3,855.16M	2,862.33M	3,104.91M	4,234.12M	4,649.23M
Operating income	2,934.18M	1,530.45M	1,761.66M	2,686.39M	3,005.22M
Income before tax	1,883.66M	351.64M	22.62M	279.86M	434.55M
Net income	1,282.50M	233.76M	59.25M	11.63M	87.99M
EBITDA	5,164.26M	4,516.57M	4,854.66M	5,865.44M	6,232.36M
Diluted EPS	0.07	0.01	0.00	0.00	0.03
Dividends Per Share	0.04	0.01	0.01	0.01	0.02
Total Assets	45,303.94M	60,901.33M	61,631.70M	61,721.58M	68,933.79M
Total liabilities	30,599.75M	45,154.09M	46,186.19M	46,401.87M	53,154.03M
Total equity	12,375.42M	12,680.13M	12,286.87M	12,012.56M	12,450.86M
Operating cash flow	3,798.45M	3,037.33M	2,827.02M	3,834.07M	4,493.09M

Valuation Measures

Dec 2020
PER	8.20
ROA	0.13%
ROE	0.71%
Operating margin	12.37%
Profit margin	0.36%

Key executives

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 (12.8%)
Shanghai Chongyang Strategic Investment Co. Ltd. (11.2%)
The Vanguard Group, Inc. (2.7%)
BlackRock Fund Advisors (1.8%)
BlackRock Investment Management (UK) Ltd. (0.8%)
LUO YI FAMILY (0.8%)
Zhong Ou Asset Management Co., Ltd (0.7%)
CTBC Investments Co., Ltd. (0.6%)
Charles Schwab Investment Management, Inc. (0.5%)
Dimensional Fund Advisors LP (0.4%)

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 3 Dec, 2021