Utilities Sector Review: Huaneng Powers Down
Huaneng Power Intl., Inc (NYSE:HNP): Based on preliminary estimate of the company, it is expected that the net profit attributable to the company’s shareholders under the PRC Accounting Standards for the period from Jan. 1, 2011 to Dec. 31, 2011 may decrease by more than 50% year on year. The decrease was mainly due to the rise of fuel cost and increase of the interest rate of RMB loans. The estimated results have not been audited or reviewed by certified public accountants. Detailed financial information will be disclosed in the 2011 Annual Report of the company.
The shares closed at $23.83, up $0.67, or 2.89%, on the day. Its market capitalization is $8.37 billion.
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