Half Year 2024 Huaneng Power International Inc Earnings Call (Chinese, English) Transcript
Key Points
- Huaneng Power International Inc (HUNGF) reported a net profit attributable to shareholders of RMB7.45 billion, marking an 18.16% increase.
- The company added 3,102.2 megawatts of new capacity, including significant additions in wind and solar power.
- The unit fuel cost decreased by 11.8% year-on-year, reflecting effective cost control measures.
- The performance of the Sahiwal Power Plant in Pakistan reached a record high, with a profit before tax increase of RMB117 million.
- The company is actively pursuing green energy development, with low carbon clean energy accounting for 32.78% of total capacity.
- Consolidated operating revenue decreased by 5.73%, indicating challenges in revenue growth.
- Domestic on-grid power sales decreased by 0.22%, and the average tariff decreased by 3.21%.
- Wind and solar curtailment rates increased, with wind curtailment at 5.56% and solar at 6.05%.
- The profit before tax of Tuas Power in Singapore decreased by RMB1.166 billion due to market conditions.
- The company faces challenges in balancing renewable energy capacity expansion with the high costs of decarbonization and renovation of thermal units.
(spoken in foreign language) Good afternoon, ladies and gentlemen. On behalf of Huaneng Power International Incorporated, I would like to welcome you all to the conference call regarding the interim results announcement of 2024.
(spoken in foreign language) Now, may I introduce the management of the company today.
(spoken in foreign language) The Chairman of the company, Mr. Wang Kui; (spoken in foreign language) the Vice Chairman of the company, Mr. Wang Zhijie; (spoken in foreign language) the Independent Director of the company, Ms. Dang Ying; (spoken in foreign language) the Vice President of the Company, Mr. Qin Haifeng; (spoken in foreign language) the Vice President and Vice Secretary to the company, Mr. Huang Chaoquan; (spoken in foreign language) the Vice President of the company, Mr. Du Canxun; (spoken in foreign language) the Chief Accountant of the company, Mr. Zhu Daqing; (spoken in foreign language) People in charge of the related departments are also joining us in this meeting.
(spoken in foreign language) First of all, the Chairman of the company, Mr. Wang, will
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