Huaneng Power International

{{Infobox company

| name = Huaneng Power International

| logo = Huaneng.png

| logo_size = 140px

| type = Public

| traded_as = {{ubl|{{SSE|600011}} (A share)|{{hkex|902}} (H share)|{{nyse|HNP}} (ADS)|HS China Enterprises Index component|SSE SmallCap Index component}}

| ISIN = {{Unbulleted list|{{ISIN|sl=n|pl=y|CNE000001998}}|{{ISIN|sl=n|pl=y|CNE1000006Z4}}}}

| predecessor = Huaneng International Power Development Corporation

| foundation = {{start date|1994|6|30|df=yes}} in Beijing{{cite web|url=http://stock.jrj.com.cn/share,disc,2001-11-13,600011,00000000000000pnwz.shtml|title=Gōng kāi fā xíng A gǔ gǔ piào zhāo gǔ yì xiàng shū|script-title=zh:公开发行A股股票招股意向书|trans-title=Prospectus (A share)|date=13 November 2001|access-date=14 June 2018|publisher=Huaneng Power International|language=zh-cn|via=jrj.com.cn}}

| founder = Huaneng Group

| location_city = Beijing

| location_country = China

| location =

| key_people = {{ill|Cao Peixi|zh|曹培玺}} (Chairman)

| area_served = {{ubl|China|Singapore}}

| industry = Power generation

| products =

| services =

| revenue =

| revenue_year =

| operating_income =

| income_year =

| net_income = {{nowrap|{{decrease}} {{CNY|{{0|00}}1.580 billion}}}}

| net_income_year = 2017

| assets = {{nowrap|{{increase}} {{CNY|396.590 billion}}}}

| assets_year = 2017

| equity = {{nowrap|{{increase}} {{CNY|{{0}}87.642 billion}}}}

| equity_year = 2017

| num_employees =

| parent = Huaneng Group

| divisions =

| subsid =

| owner = Huaneng Group (47.16%)

| module = {{Chinese|child=yes|s=华能国际电力股份有限公司|t=華能國際電力股份有限公司|p=Huánéng Guójì Diànlì Gǔfèn Yǒuxiàn Gōngsī|order=st|altname= Abbreviation |s2=华能国际电力|t2=華能國際電力|p2=Huánéng Guójì Diànlì|altname3= Second abbreviation|s3=华能国际|t3=華能國際|p3=Huánéng Guójì|l3=Huaneng International}}

| homepage = {{url|http://www.hpi.com.cn}}

| footnotes = in consolidated financial statement

}}

Huaneng Power International, Inc. (HPI), commonly known as Huaneng Power, is a Chinese electric power company. It was established in 1994 by the China Huaneng Group, one of the five largest power producers in China. It engages in the development, construction and operation of large power plants.{{cite web|url=http://www.hpi.com.cn/company/index.jsp|title=Company Profile|archive-url=https://web.archive.org/web/20080302040851/http://www.hpi.com.cn/company/index.jsp |archive-date=2008-03-02|publisher=Huaneng Power International }}

{{as of|2018|5|31}}, the market capitalization of its H share was HK$28.484 billion. {{as of|2017|12|31}}, about 30.92% of total share capital are "foreign share" (H share plus American depositary share), while the rest were domestic share (A share).{{cite book|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0416/LTN20180416932.pdf|title=2017 Annual Report|date=16 April 2018|access-date=14 June 2018|publisher=Huaneng Power International|via=Hong Kong Exchanges and Clearing website}}{{rp|89}}

Huaneng Power's H share is a component of Hang Seng China Enterprises Index, representing 50 largest H share companies on the Stock Exchange of Hong Kong. However, under different selection criteria, Huaneng Power's A share is a component of SSE SmallCap Index since May 2018,{{cite web|url=http://www.sse.com.cn/market/sseindex/indexlist/s/i000045/const_list.shtml|script-title=zh:成份股列表|trans-title=List of components|date=15 June 2018|access-date=15 June 2018|publisher=Shanghai Stock Exchange|language=zh-cn}}{{cite web|url=http://english.sse.com.cn/indices/indices/indexnews/a/20180525/5e81f6f29def26fb02b5bd5b09fa4a54.xlsx|title=Adjustment Lists for SSE Indices|format=Microsoft Excel|date=28 May 2018|access-date=15 June 2018|publisher=Shanghai Stock Exchange}} an index for next 320 shares that were not included in SSE 180 Index.

Huaneng Power was ranked 745th in 2018 Forbes Global 2000.

History

Huaneng Power International (HPI) was established in 1994 by China Huaneng Group, a state-owned enterprise, as a new legal person for the reorganization of Huaneng International Power Development Corporation (HIPDC; {{zh|s=华能国际电力开发公司}}). In the same year American depositary share of HPI was listed on the New York Stock Exchange. In 1997 China Huaneng Group, HIPDC and HPI became part of the State Power Corporation of China,{{cite press release|url=http://www.china.com.cn/law/flfg/txt/2006-08/08/content_7060160.htm|title=Guān yú zǔ jiàn guó jiā diàn lì gōng sī de tōng zhī|script-title=zh:关于组建国家电力公司的通知|date=7 December 1996|access-date=14 June 2018|publisher=State Council|language=zh-cn|via=china.com.cn}} a mega corporation that replacing the commercial function of the {{ill|Ministry of Electric Industry|zh|中华人民共和国电力工业部}}. On 21 January 1998 HPI listed its H share on the Stock Exchange of Hong Kong;{{cite web|url=https://www.hkex.com.hk/Market-Data/Statistics/Consolidated-Reports/China-Dimension?sc_lang=en&select={C44ED836-1385-4504-AE62-37D87C7042F5}|title=List of H Share Companies|date=31 May 2018|access-date=14 June 2018|publisher=Hong Kong Exchanges and Clearing}} its A share was listed on the Shanghai Stock Exchange since 6 December 2001.{{cite web|url=http://www.sse.com.cn/assortment/stock/list/info/company/index.shtml?COMPANY_CODE=600011|title=Gōng sī gài kuàng huá néng guó jì diàn lì gǔ fèn yǒu xiàn gōng sī 600011|script-title=zh:公司概况华能国际电力股份有限公司600011|access-date=14 June 2018|publisher=Shanghai Stock Exchange|language=zh-cn}} In 2000, HPI also absorbed fellow sister listed company Shandong Huaneng Power Development.

After the dismantle of the State Power Corporation of China in 2003, HPI climbed up one tier as the third-tier subsidiary of the State Council, as China Huaneng Group was directly supervised by the State Council since 2003. The parent company also injected more assets to HPI in order to floats most of the group assets publicly.{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2004/0419/LTN20040419055.pdf|title=Major and connected transaction|date=19 April 2004|access-date=15 June 2018|publisher=Huaneng Power International|via=Hong Kong Exchanges and Clearing website}}{{cite news|url=https://hk.finance.appledaily.com/finance/daily/article/20040417/3988178|title= waa⁴ nang⁴ 46 jik¹ kau³ 5 din⁶ cong² kyun⁴ jik¹|script-title=zh:華能46億購5電廠權益|newspaper=Apple Daily|publisher=Next Media|publication-place=Hong Kong|language=zh-hk|date=17 April 2004|access-date=15 June 2018}}{{cite news|url=http://www.scmp.com/business/china-business/article/1748130/huaneng-power-may-buy-more-assets-parent-company|title=Huaneng Power may buy more assets from parent company|date=27 March 2015|access-date=14 June 2018|work=South China Morning Post|publication-place=Hong Kong}} In the 2004 deal, HPI also acquired an additional 10% minority interests in Jinggangshan Power Plant from Jiangxi Province Investment Corporation, ({{zh|s=江西省投资公司}}, now Jiangxi Province Investment Group) a subsidiary of {{ill|Jiangxi Provincial People's Government|zh|江西省人民政府}}.

In April 2008, HPI also acquired a special-purpose vehicle SinoSing Power from China Huaneng Group for approx. US$985 million.{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2008/0429/LTN200804291632.pdf|title=Major and Connected Transaction - Acquisition of Sinosing Power|date=29 April 2008|access-date=15 June 2018|publication-place=Beijing|publisher=Huaneng Power International|via=Hong Kong Exchanges and Clearing}}{{cite news|url=http://www.scmp.com/article/635810/huaneng-power-pay-parent-us985m-singapore-firm|title=Huaneng Power to pay parent US$985m for Singapore firm|date=30 April 2008|access-date=15 June 2018|publication-place=Hong Kong|newspaper=South China Morning Post}} That SPV acquired Tuas Power from Singapore government owned Temasek Holdings for SG$4.235 billion (approx. US$3.1 billion) in March 2008 in a leverage buyout.{{cite news|url=http://www.chinadaily.com.cn/business/2008-03/14/content_6537573.htm|title=China Huaneng to pay $3.1b for Tuas Power|date=14 March 2008|access-date=15 June 2018|newspaper=China Daily}}{{cite press release|url=http://www.temasek.com.sg/mediacentre/newsreleases?detailid=8422|title=Temasek successfully completes divestment of Tuas Power|publication-place=Singapore|publisher=Temasek Holdings|date=14 March 2008|access-date=15 June 2018|archive-url=https://web.archive.org/web/20140819102902/http://www.temasek.com.sg/mediacentre/newsreleases?detailid=8422|archive-date=19 August 2014}}

HPI is involved in the development of renewable energy projects.{{Cite book |last=Lewis |first=Joanna I. |title=Cooperating for the Climate: Learning from International Partnerships in China's Clean Energy Sector |date=2023 |publisher=The MIT Press |isbn=978-0-262-54482-5 |location=Cambridge, Massachusetts}}{{Rp|pages=40-41}}

Divisions and Subsidiaries

Jinggangshan Power Plant (100%)
Luohuang Power Plant
Hanfeng Power Plant
Yueyang Power Plant
Yingkou Power Plant (100%)
Tuas Power (100%)

Equity investments

Note: only significant entities were listed

;current

China Huaneng Finance (20%){{cite press release|url=http://www.cbrc.gov.cn/govView_5452D36F473F4F6BB658A5DD0632B94F.html|title=Guān yú zhōng guó huá néng cái wù yǒu xiàn zé rèn gōng sī zēng jiā zhù cè zī běn děng shì xiàng de pī fù|script-title=zh:关于中国华能财务有限责任公司增加注册资本等事项的批复|trans-title=Approval of the capital increase of China Huaneng Finance Co., Ltd.|date=26 October 2011|access-date=15 June 2018|publisher=China Banking Regulatory Commission|language=zh-cn}}

;former

China Yangtze Power (0.65%; disposed in 2017, had a HPI employee that nominated in CYP's supervisory board){{cite web|url=http://static.sse.com.cn/disclosure/listedinfo/announcement/c/2017-04-29/600900_2016_n.pdf|title=2016 nián nián dù bào gào|script-title=zh:2016年年度报告|trans-title=2016 Annual Report|date=29 April 2017|access-date=15 June 2018|publisher=China Yangtze Power|language=zh-cn|via=Shanghai Stock Exchange}}

Shareholders

Huaneng Power International is a government controlled corporation which under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council indirectly.

{{As of|2017|12|31}}, ultimate parent company China Huaneng Group (CHNG) owned 10.23% shares of Huaneng Power International directly, plus additional 33.33% via a wholly owned subsidiary Huaneng International Power Development Corporation, another 3.11% shares via another subsidiary, Hong Kong incorporated, China Hua Neng Group Hong Kong ({{zh|t=中國華能集團香港}}) and lastly 0.49% shares via mainland incorporated subsidiary, China Huaneng Finance ({{zh|s=中国华能财务}}),{{cite book|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2018/0416/LTN20180416932.pdf|title=2017 Annual Report|chapter=Report of the Board of Directors|date=16 April 2018|access-date=14 June 2018|publisher=Huaneng Power International|pages=89–90|via=Hong Kong Exchanges and Clearing website}} for a total of 47.16% shares of HPI.