Huaneng Power International

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Huaneng Power International
Public
Traded as
ISINCNE000001998
CNE1000006Z4
IndustryPower generation
PredecessorHuaneng International Power Development Corporation
Founded30 June 1994 (1994-06-30) in Beijing[1]
FounderHuaneng Group
Headquarters,
China
Area served
  • mainland China
  • Singapore
Key people
Cao Peixi [zh] (chairman)
Decrease CN¥001.580 billion (2017)
Total assetsIncrease CN¥396.590 billion (2017)
Total equityIncrease CN¥087.642 billion (2017)
OwnerHuaneng Group (47.16%)
ParentHuaneng Group
Chinese name
Simplified Chinese华能国际电力股份有限公司
Traditional Chinese華能國際電力股份有限公司
Chinese short name
Simplified Chinese华能国际电力
Traditional Chinese華能國際電力
second Chinese short name
Simplified Chinese华能国际
Traditional Chinese華能國際
Websitewww.hpi.com.cn
Footnotes / references
in consolidated financial statement[2]

Huaneng Power International, Inc. (abb. HPI), commonly known as Huaneng Power or in Chinese: 华能国际 (literally Huaneng International), is a Chinese electric power company. It was established in 1994 by China Huaneng Group. Its parent company China Huaneng Group is one of the five largest power producers in China. It engages in the development, construction and operation of large power plants.[3]

As of 31 May 2018, the market capitalization of its H shares was HK$28.484 billion.[4] As of 31 December 2017, about 30.92% of total share capital are "foreign shares" (H shares plus American depositary share), while the rest were domestic share (or known as A share).[2]:89

Huaneng Power's H shares are components of Hang Seng China Enterprises Index, representing 50 largest H shares companies on the Stock Exchange of Hong Kong. However, under different selection criteria, Huaneng Power's A shares are components of SSE SmallCap Index since May 2018,[5][6] 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[edit]

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; Chinese: 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,[7] a mega corporation that replacing the commercial function of the Ministry of Electric Industry [zh]. On 21 January 1998 HPI listed its H shares on the Stock Exchange of Hong Kong;[4] its A shares were listed on the Shanghai Stock Exchange since 6 December 2001.[8] 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.[9][10][11] In the 2004 deal, HPI also acquired an additional 10% minority interests in Jinggangshan Power Plant from Jiangxi Province Investment Corporation,[9][10] (Chinese: 江西省投资公司, now Jiangxi Province Investment Group) a subsidiary of Jiangxi Provincial People's Government [zh].

In April 2008, HPI also acquired a special-purpose vehicle SinoSing Power from China Huaneng Group for approx. US$985 million.[12][13] 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.[13][14][15]

Divisions and Subsidiaries[edit]

As of 31 December 2017
  • Jinggangshan Power Plant (100%)
  • Luohuang Power Plant
  • Hanfeng Power Plant
  • Yueyang Power Plant
  • Yingkou Power Plant (100%)
  • Tuas Power (100%)[2]

Equity investments[edit]

  • Note: only significant entities were listed
As of 31 December 2017
current
  • China Huaneng Finance (20%)[16]
former

Shareholders[edit]

Huaneng Power International is a government controlled corporation which under the supervision of the State-owned Assets Supervision and Administration Commission[8] of the State Council indirectly.

As of 31 December 2017, 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 (Chinese: 中國華能集團香港) and lastly 0.49% shares via mainland incorporated subsidiary, China Huaneng Finance (Chinese: 中国华能财务),[18] for a total of 47.16% shares of HPI.

See also[edit]

References[edit]

  1. ^ "Gōng kāi fā xíng A gǔ gǔ piào zhāo gǔ yì xiàng shū" 公开发行A股股票招股意向书 [Prospectus (A share)] (in Chinese). Huaneng Power International. 13 November 2001. Retrieved 14 June 2018 – via jrj.com.cn.
  2. ^ a b c d 2017 Annual Report (PDF). Huaneng Power International. 16 April 2018. Retrieved 14 June 2018 – via Hong Kong Exchanges and Clearing website.
  3. ^ "Company Profile". Huaneng Power International. Archived from the original on 2008-03-02.
  4. ^ a b "List of H Share Companies". Hong Kong Exchanges and Clearing. 31 May 2018. Retrieved 14 June 2018.
  5. ^ 成份股列表 [List of components] (in Chinese). Shanghai Stock Exchange. 15 June 2018. Retrieved 15 June 2018.
  6. ^ "Adjustment Lists for SSE Indices" (Microsoft Excel). Shanghai Stock Exchange. 28 May 2018. Retrieved 15 June 2018.
  7. ^ "Guān yú zǔ jiàn guó jiā diàn lì gōng sī de tōng zhī" 关于组建国家电力公司的通知 (Press release) (in Chinese). State Council. 7 December 1996. Retrieved 14 June 2018 – via china.com.cn.
  8. ^ a b "Gōng sī gài kuàng huá néng guó jì diàn lì gǔ fèn yǒu xiàn gōng sī 600011" 公司概况 华能国际电力股份有限公司600011 (in Chinese). Shanghai Stock Exchange. Retrieved 14 June 2018.
  9. ^ a b "Major and connected transaction" (PDF) (Press release). Huaneng Power International. 19 April 2004. Retrieved 15 June 2018 – via Hong Kong Exchanges and Clearing website.
  10. ^ a b "waa4 nang4 46 jik1 kau3 5 din6 cong2 kyun4 jik1" 華能46億購5電廠權益. Apple Daily (in Chinese). Hong Kong: Next Media. 17 April 2004. Retrieved 15 June 2018.
  11. ^ "Huaneng Power may buy more assets from parent company". South China Morning Post. Hong Kong. 27 March 2015. Retrieved 14 June 2018.
  12. ^ "Major and Connected Transaction - Acquisition of Sinosing Power" (PDF) (Press release). Beijing: Huaneng Power International. 29 April 2008. Retrieved 15 June 2018 – via Hong Kong Exchanges and Clearing.
  13. ^ a b "Huaneng Power to pay parent US$985m for Singapore firm". South China Morning Post. Hong Kong. 30 April 2008. Retrieved 15 June 2018.
  14. ^ "China Huaneng to pay $3.1b for Tuas Power". China Daily. 14 March 2008. Retrieved 15 June 2018.
  15. ^ "Temasek successfully completes divestment of Tuas Power" (Press release). Singapore: Temasek Holdings. 14 March 2008. Archived from the original on 19 August 2014. Retrieved 15 June 2018.
  16. ^ "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" 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 [Approval of the capital increase of China Huaneng Finance Co., Ltd.] (Press release) (in Chinese). China Banking Regulatory Commission. 26 October 2011. Retrieved 15 June 2018.
  17. ^ "2016 nián nián dù bào gào" 2016年年度报告 [2016 Annual Report] (PDF) (in Chinese). China Yangtze Power. 29 April 2017. Retrieved 15 June 2018 – via Shanghai Stock Exchange.
  18. ^ "Report of the Board of Directors". 2017 Annual Report (PDF). Huaneng Power International. 16 April 2018. pp. 89–90. Retrieved 14 June 2018 – via Hong Kong Exchanges and Clearing website.

External links[edit]