Chinese power producer Huaneng Power International Inc.'s net profit attributable to its shareholders dropped to 1.58 billion Chinese yuan for full year 2017 from 8.52 billion yuan the previous year, dragged down by rising coal prices.
The company's EPS attributable to shareholders stood at 10 fen in the year that ended Dec. 31, 2017, down from 56 fen in 2016.
Operating revenue increased to 152.46 billion yuan in 2017 from 113.81 billion yuan the previous year.
Total operating expenses rose to 141.90 billion yuan from 94.26 billion yuan, mainly driven by fuel costs of 92.74 billion yuan for the year, up from 56.62 billion yuan. Profit from operations stood at 9.18 billion yuan, down year over year from 18.38 billion yuan.
Huaneng said its board proposed a cash dividend of 10 fen per share, which will be considered at the 2017 annual general meeting May 3.
As of March 19, US$1 was equivalent to 6.33 Chinese yuan.
