BEIJING, Oct. 25, 2017 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI", or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced its unaudited results for the nine months ended September 30, 2017.

For the first three quarters of 2017, the Company and its subsidiaries recorded consolidated operating revenue of RMB 111.074 billion (equivalent to approximately USD 16.736 billion, based on the exchange rate of USD 1 to RMB 6.6369 as of September 29, 2017), representing an increase of 10.79% compared to the same period last year. The net profit attributable to equity holders of the Company was RMB 2.860 billion (equivalent to approximately USD 0.431 billion), representing a decrease of 74.30% compared to the same period of last year. The earnings per share was RMB 0.19 (equivalent to approximately USD 0.029) and earnings per ADS amounted to RMB 7.60 (equivalent to approximately USD 1.15). The main reason for the decrease of the net profit is the rise of fuel prices.

Encl: The unaudited summary financial information of the Company for the nine months ended September 30, 2017. The summary financial information is published under the listing regulations of the China Securities Regulatory Commission. The summary financial information was prepared in accordance with the Accounting Standards for Business Enterprises of the People's Republic of China ("PRC GAAP"), which differs from the International Financial Reporting Standards ("IFRS") and the accounting principles generally accepted in the United States of America ("US GAAP"). No reconciliation with IFRS or US GAAP has been made in the presentation of the summary financial information.

About Huaneng Power International, Inc.

Huaneng Power International, Inc. is one of China's largest listed power producers with controlled generation capacity of 102,502 MW and an equity-based generation capacity of 91,138 MW. Its power plants are located in 25 provinces, municipalities and autonomous regions in China. It also has a wholly-owned power company in Singapore.

For Enquires, Please Contact
Huaneng Power International, Inc.
Ms. MENG Jing / Ms. ZHAO Lin
Tel: (86 10) 6608 6765 / 6322 6596
Fax: (86 10) 6322 6888
E-mail: zqb@hpi.com.cn

Wonderful Sky Financial Group Limited
Wonderful Sky Financial Group Limited
Ms. Iris OUYANG / Ms. Crystal RUAN
Tel: (852) 2851 1038
Fax: (852) 2865 1638
Email: po@wsfg.hk / Crystalruans@wsfg.hk

    HUANENG POWER INTERNATIONAL, INC.

    UNAUDITED CONSOLIDATED BALANCE SHEETS

    (PRC GAAP)

    AS AT 30 SEPTEMBER, 2017


    (Amounts expressed in thousands)

                                                                                                                      As at                                           As at
                                                                                                                30 September, 2017                              31 December, 2016
                                                                                                                                                              (Restated)


                                                                                                                       RMB                                         US$                                           RMB

    ASSETS


    CURRENT ASSETS

    Cash                                                                                                                      16,364,790                                   2,465,728                                  10,214,185

    Derivative financial assets                                                                                                  160,378                                      24,165                                     278,602

    Notes receivable                                                                                                           3,062,304                                     461,406                                   2,639,366

    Accounts receivable                                                                                                       17,355,173                                   2,614,952                                  17,157,638

    Advances to suppliers                                                                                                      1,264,924                                     190,590                                     984,760

    Interest receivables                                                                                                          22,508                                       3,391                                      22,130

    Dividends receivable                                                                                                         195,000                                      29,381                                     724,453

    Other receivables                                                                                                          2,764,450                                     416,527                                   5,252,967

    Inventories                                                                                                                7,613,534                                   1,147,152                                   8,046,009

    Current portion of non-current assets                                                                                        154,813                                      23,326                                     136,304

    Other current assets                                                                                                       2,876,476                                     433,407                                   3,203,043

    Assets held for sale                                                                                                       2,121,610                                     319,668                                           -
                                                                                                                               ---------                                     -------                                         ---

    Total current assets                                                                                                      53,955,960                                   8,129,693                                  48,659,457
                                                                                                                              ----------                                   ---------                                  ----------


    NON-CURRENT ASSETS

    Available-for-sale financial assets                                                                                        2,514,809                                     378,913                                   3,560,928

    Derivative financial assets                                                                                                   40,673                                       6,128                                      99,721

    Long-term receivables                                                                                                      1,346,026                                     202,809                                   1,288,416

    Long-term equity investment                                                                                               19,975,321                                   3,009,737                                  19,715,293

    Fixed assets                                                                                                             243,515,501                                  36,691,151                                 244,683,030

    Fixed assets pending for disposal                                                                                             82,237                                      12,391                                      84,253

    Construction-in-progress                                                                                                  26,426,598                                   3,981,768                                  26,296,407

    Construction materials                                                                                                     2,855,531                                     430,251                                   3,491,109

    Intangible assets                                                                                                         13,579,954                                   2,046,129                                  14,146,114

    Goodwill                                                                                                                  12,175,666                                   1,834,541                                  11,975,592

    Long-term deferred expenses                                                                                                  297,818                                      44,873                                     247,160

    Deferred income tax assets                                                                                                 2,642,672                                     398,179                                   2,447,648

    Other non-current assets                                                                                                   3,472,105                                     523,152                                   3,064,270
                                                                                                                               ---------                                     -------                                   ---------

    Total non-current assets                                                                                                 328,924,911                                  49,560,022                                 331,099,941
                                                                                                                             -----------                                  ----------                                 -----------

    TOTAL ASSETS                                                                                                             382,880,871                                  57,689,715                                 379,759,398
                                                                                                                             ===========                                  ==========                                 ===========


    LIABILITIES AND SHAREHOLDERS' EQUITY


    CURRENT LIABILITIES

    Short-term loans                                                                                                          78,506,038                                  11,828,721                                  68,271,074

    Derivative financial liabilities                                                                                              67,786                                      10,214                                     133,569

    Notes payable                                                                                                              2,450,902                                     369,284                                   3,079,004

    Accounts payable                                                                                                          12,241,376                                   1,844,442                                  12,075,281

    Advances from customers                                                                                                      250,060                                      37,677                                   1,274,556

    Salary and welfare payables                                                                                                  582,234                                      87,727                                     489,206

    Taxes payable                                                                                                              1,198,922                                     180,645                                   1,424,669

    Interest payables                                                                                                            715,269                                     107,772                                     761,842

    Dividends payable                                                                                                          2,060,340                                     310,437                                   1,575,180

    Other payables                                                                                                            20,163,438                                   3,038,081                                  20,609,473

    Current portion of non-current liabilities                                                                                24,583,196                                   3,704,018                                  18,769,231

    Provision                                                                                                                     25,696                                       3,872                                      21,758

    Short-term bonds payable                                                                                                  16,280,569                                   2,453,038                                  27,311,103

    Other current liabilities                                                                                                    439,469                                      66,216                                     369,479

    Liabilities held for sale                                                                                                  1,615,442                                     243,402                                           -
                                                                                                                               ---------                                     -------                                         ---

    Total current liabilities                                                                                                161,180,737                                  24,285,546                                 156,165,425
                                                                                                                             -----------                                  ----------                                 -----------


    NON-CURRENT LIABILITIES

    Long-term loans                                                                                                          107,385,031                                  16,179,998                                  96,911,236

    Derivative financial liabilities                                                                                             165,826                                      24,985                                     201,169

    Bonds payable                                                                                                             13,690,986                                   2,062,859                                  12,182,971

    Long-term payables                                                                                                         1,470,519                                     221,567                                   1,706,349

    Long-term Salary and welfare payables                                                                                         89,483                                      13,483                                      90,779

    Specific accounts payable                                                                                                     38,624                                       5,820                                      48,136

    Provision                                                                                                                     52,444                                       7,902                                      52,444

    Deferred income                                                                                                            3,827,082                                     576,637                                   3,780,307

    Deferred income tax liabilities                                                                                            1,358,726                                     204,722                                   1,429,859
                                                                                                                               ---------                                     -------                                   ---------

    Total non-current liabilities                                                                                            128,078,721                                  19,297,973                                 116,403,250
                                                                                                                             -----------                                  ----------                                 -----------

    TOTAL LIABILITIES                                                                                                        289,259,458                                  43,583,519                                 272,568,675
                                                                                                                             ===========                                  ==========                                 ===========


    SHAREHOLDERS' EQUITY

    Share capital                                                                                                             15,200,383                                   2,290,284                                  15,200,383

    Other equity instruments                                                                                                   4,999,950                                     753,356                                           -

    Capital surplus                                                                                                           14,058,131                                   2,118,177                                  29,530,847

    Other comprehensive income (loss)                                                                                            459,620                                      69,252                                     700,733

         Including: Currency translation differences                                                                           (514,579)                                   (77,533)                                  (712,519)

    Special reserves                                                                                                              60,867                                       9,171                                      51,427

    Surplus reserves                                                                                                           8,186,275                                   1,233,449                                   8,186,275

    Undistributed profits                                                                                                     33,110,200                                   4,988,805                                  34,691,364

    Shareholder's equity attributable to                                                                                      76,075,426                                  11,462,494                                  88,361,029
       shareholders of the Company

    Non-controlling interests                                                                                                 17,545,987                                   2,643,702                                  18,829,694
                                                                                                                              ----------                                   ---------                                  ----------

    Total shareholders' equity                                                                                                93,621,413                                  14,106,196                                 107,190,723
                                                                                                                              ----------                                  ----------                                 -----------

    TOTAL LIABILITIES AND SHAREHOLDER'S                                                                                      382,880,871                                  57,689,715                                 379,759,398
       EQUITY



    For the convenience of the reader, translation of amounts from Renminbi (Rmb) into United States dollars (US$) has been made at the rate of US$1.00=Rmb6.6369 announced by the People's Bank of China on
     September 29, 2017. No representation is made that Renminbi amounts could have been, or could be, converted into United States dollars at that rate as at September 29, 2017, or at any other certain rate.



    HUANENG POWER INTERNATIONAL, INC.

    UNAUDITED CONSOLIDATED INCOME STATEMENTS

    (PRC GAAP)

    FOR THE FIRST QUARTER ENDED 30 SEPTEMBER, 2017


    (Amounts expressed in thousands, except per share data)


                                                                                                                                         For the first quarter ended 30 September
                                                                                                                                         ----------------------------------------

                                                                                                                                                                   2017                                            2016
                                                                                                                                                                          (Restated)


                                                                                                                                                      RMB                                            US$                            RMB


    1. Operating revenue                                                                                                                                    111,074,351                                      16,735,878                 100,260,296

        Less: Operating cost                                                                                                                                 97,685,152                                      14,718,491                  73,008,107

                 Tax and levies                                                                                                                               1,038,208                                         156,430                     822,433

                 Selling expenses                                                                                                                                10,283                                           1,549                       9,616

                 General and administrative expenses                                                                                                          2,761,247                                         416,045                   3,234,177

                 Financial expenses                                                                                                                           6,929,574                                       1,044,098                   6,512,833

                 Assets impairment loss                                                                                                                          39,718                                           5,984                     360,601

        Add: Loss on fair value changes of financial assets/liabilities                                                                                         (3,339)                                          (503)                   (17,747)

            Investment income                                                                                                                                 1,661,382                                         250,325                   2,346,166

            Including: Investment income from                                                                                                                   477,493                                          71,945                     900,223
                                associates and joint ventures

           Other income                                                                                                                                         249,838                                          37,644                           -
                                                                                                                                                                -------                                          ------                         ---

    2. Operating profit                                                                                                                                       4,518,050                                         680,747                  18,640,948
                                                                                                                                                              ---------                                         -------                  ----------

        Add:  Non-operating income                                                                                                                              135,044                                          20,347                     616,064

                 Including: gain on disposals of                                                                                                                 20,565                                           3,099                      23,779
                                    non-current assets

        Less: Non-operating expenses                                                                                                                             53,436                                           8,051                     295,825

                 Including: Loss on disposals of                                                                                                                  4,284                                             645                     218,043
                                non-current assets


    3. Profit before taxation                                                                                                                                 4,599,658                                         693,043                  18,961,187
                                                                                                                                                              ---------                                         -------                  ----------

        Less: Income tax expense                                                                                                                              1,254,992                                         189,093                   4,693,405
                                                                                                                                                              ---------                                         -------                   ---------

    4. Net profit                                                                                                                                             3,344,666                                         503,950                  14,267,782
                                                                                                                                                              =========                                         =======                  ==========

        Including: Net profit generated by acquiree before business                                                                                                   -                                              -                  2,758,935
            combination under common control

        Attributable to:

        Shareholders of the Company                                                                                                                           2,860,339                                         430,975                  11,130,915

        Non-controlling interests                                                                                                                               484,327                                          72,975                   3,136,867

    5. Earnings per share (based on the net profit
            attributable to shareholders of the
            Company)
            (expressed in RMB per share)

        - Basic earnings per share                                                                                                                                 0.19                                               -                       0.73

        - Diluted earnings per share                                                                                                                               0.19                                               -                       0.73

    6. Other comprehensive income                                                                                                                             (254,193)                                       (38,300)                  1,158,883
                                                                                                                                                               --------                                         -------                   ---------

    7. Total comprehensive income                                                                                                                             3,090,473                                         465,650                  15,426,665
                                                                                                                                                              =========                                         =======                  ==========

       Attributable to:

           Shareholders of the Company                                                                                                                        2,619,226                                         394,646                  12,287,665

           Non-controlling interests                                                                                                                            471,247                                          71,004                   3,139,000


    For the convenience of the reader, translation of amounts from Renminbi (Rmb) into United States dollars (US$) has been made at the rate of US$1.00=Rmb6.6369 announced by the People's Bank of China on September 29, 2017. No
     representation is made that Renminbi amounts could have been, or could be, converted into United States dollars at that rate as at September 29, 2017, or at any other certain rate.

View original content:http://www.prnewswire.com/news-releases/huaneng-power-international-inc-net-profit-attributable-to-shareholders-decreased-by-7430-for-the-first-three-quarters-of-2017-300542833.html

SOURCE Huaneng Power International, Inc.