China Knowledge reported that China Huaneng Group, the country top power producer and the parent company of Huaneng Power International Inc saw its profit slide 21.7%YoY to CNY 6.1 billion last year and dragged down by a loss in its thermal power business.

Mr Cao Peixi General Manager of the group said the group thermal power business suffered a loss of CNY 6.5 billion in 2011 while a profit of CNY 3.22 billion was earned by hydropower business, CNY 1.54 billion by wind power business, CNY 1.33 billion by coal business and CNY 1.54 billion by financial business respectively.

China Huaneng realized CNY 270.3 billion of operating revenue in the previous year up 18.5% from 2010. Electricity output rose 12.5%YoY to 604.6 terawatt hours last year. At the end of 2011, the group installed power capacity had increased 10.5%YoY to 125.38 GW ranking first in Asia and second in the world.

The group saw its coal output surge 38.5%YoY to 64.06 million tonne last year and its coal production capacity rise 6.3% to 68.17 million tonnes.

For 2012, the group aims to realize CNY 304 billion in operating revenue and CNY 9 billion in profit and produce 660 TWhs of electricity and 66.7 million tonnes of coal.

 

Source:steelguru