Huaneng Power International, Inc. (the Company, Company or HPI) and its subsidiaries develop, construct, operate and manage large power plants throughout China. As of June 30, 2019, the Company's installed capacity amounted to 93,520MW on equity basis and 106,136MW on controllable basis, with power plants broadly located in 26 provinces, autonomous regions and municipalities, making it one of the largest listed power producers in China. The Company also wholly owns an operating power company in Singapore.
The Company was incorporated on June 30, 1994 and subsequently completed a global Initial Public Offering in October of the same year with the issuance of 1,250,000,000 foreign shares (Foreign Shares). Such shares, represented by 31,250,000 American Depository Receipts (ADRs) became listed on the New York Stock Exchange (Ticker symbol: HNP). In January 1998, the Company became listed in The Stock Exchange of Hong Kong Limited by way of introduction (Stock code: 902) and in March successfully completed a global placement of 250,000,000 foreign shares along with a private placement of 400,000,000 domestic shares. In November 2001, the Company successfully issued 350,000,000 domestic A shares, of which 250,000,000 shares were public shares listed in the Shanghai Stock Exchange (Stock code: 600011). In December 2010, the company completed a non-public issuance of 1,500,000,000 A shares and 500,000,000 H shares. In November 2015, the Company completed a non-public issuance of 780,000,000 H shares. At present, the Company has approximately15.2 billion total shares outstanding.
The company mainly engages in the development, construction and operation of large power plants through out China utilizing modern technology and equipment financed by international and domestic capital. As a power generation enterprise, the Company has since its inception focused on technical innovation, structural innovation and management innovation. With the completion of many record-setting and landmark projects in China, the Company strives to promote rapid development of China’s power industry and technical advancement in power generation equipment manufacturing and the enhancement of domestic power generation enterprises’ technical capabilities and management skills. The Company built China's first 600MW supercritical generating unit, the first 1000MW unit and the first digitalized 1000MW class ultra-supercritical coal fired unit. The Company also built the world’s first 1000MW unit with seawater desulfurization. The 660MW high efficiency ultra-supercritical unit constructed by the Company has the highest operating parameters in China. The Company also constructed the first ultra-supercritical unit with secondary reheating in China. The Company is the first power company in China achieved a “triple listing” status, with its shares traded on New York Stock Exchange, Hong Kong Stock Exchange and Shanghai Stock Exchange. The Company’s technical-economical indicators and full labor productivity rank among the best in domestic power industry. The Company continuously optimizes its power generating structure and geographical layout by giving priority to thermal power generation and construction of high efficiency environmentally friendly large units, co-generation units and coal-electricity integrated development bases in economically vibrant regions. The Company strives to develop commercially viable wind power projects. Under certain conditions, the Company also engages in the development of gas fired power projects and investment in hydro-power projects and nuclear projects.
Over the years, through persistent enterprising and steady business operation, the Company's operating scale continued to rise and competitive strength continued to grow. The Company's success has been built on economy of scale, high quality equipment, strategically located power generation assets, strong support from its major shareholders, sound corporate governance structure, excellent market credibility, wealth of capital market operation experience, overseas outreach, high caliber talent pool and professional management team.
The Company’s development objectives are: as a power generating company, we are dedicated to providing abundant, reliable and environmentally friendly electric energy; as a listed company, we strive to deliver long-term, stable and increasing returns to our shareholders; as a first-rate power producer, we aim for operating excellence, domestic superiority and international recognition.
Huaneng International Power Development Company (HIPDC), HPI’s parent company and controlling shareholder, is a joint-venture company established in 1985.