It is reported that after lifting itself out of red in the H1 of the year, Huaneng Power International, Inc witnessed its performance in Q3 exceeding its prediction. Huanneng issued its quarterly report recently and announced that its net profit in Q3 reached CNY 2.167 billion surging by 261%YoY. Its total net profit in the first three quarters reached CNY 4.13 billion which almost caught up with the prediction for the whole year.
As per report, the significant growth in Q3 was mainly contributed by the drop of coal price and the entry into production of its newly built generating sets. In Q3, the power production of Huaneng went up by 32%YoY. Huaneng also has other projects under cooperation.
An analyst of CITC said "The thermal power industry has been lifted out of red in the H1. In September power consumption of the society went up by 10%. A growth of profits for the whole industry in Q3 is out of question.”
