Profits surge expected for Huaneng Power
(China Daily) Updated: 2013-01-29 13:35Huaneng Power International Inc, the publicly traded unit of China's largest electricity producer, expects a surge of more than 340 percent in annual net profits in 2012 from the 1.27 billion yuan ($202.2 million) in 2011.
In a preliminary statement filed on Monday, it said the estimate is based on the carryover effect of the tariff adjustments in 2011, falling coal prices in 2012, and effective cost controls by the company.
China Daily - Agencies
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