China Huaneng Group convenes 2011 Mid-year Working Conference

On July 15-16, China Huaneng Group held 2011 Mid-year Working Conference and Economic Activity Analysis Meeting in the First Half Year in Beijing. Conference attendees summarized the work in the first half year, analyzed the current situation, and discussed the key work in the second half year. The conference also motivated all staff and workers to accomplish the annual goal with firm confidence and great efforts, so as to contribute to the goal of building Huaneng into a world-class company with international competitiveness.

Mr. Cao Peixi, President of China Huaneng Group, made a report on “Accomplishing Various Annual Tasks with Firm Confidence and Solid Work”. Mr. Huang Yongda, Secretary of the CPC Huaneng Committee, made a closing speech. The attendees also include the Group executives Zhang Tingke, Na Xizhi, Huang Long, Guo Junming, Ma Jing, Hu Jianmin, Kou Wei, Wu Dawei, Hu Shihai and leaders from the Supervisory Board of the SASAC of the State Council.

Cao Peixi comprehensively reviewed and summarized the work in the first half year in the report. In the first half year, the entire Group adhered to the decisions made by the CPC Central Committee and the State Council as well as requirements from the SASAC. The Group strengthened internal management, created external environment, won over favorable policies to promote various tasks orderly and laid a foundation for completing the annual goal and achieving a good beginning of the “12th Five-year Plan” period. By the end of June, the Group had wholly-owned and holding companies with total installed capacity of 118.55 GW, with a year-to-year growth of 9.9%; generated electricity of 295.0 billion kWh, with a year-to-year growth of 15.7％; achieved sales revenue of 129.6 billion Yuan, with a year-to-year growth of 15.3%; produced 32.24 million tons of coal, with a year-to-year growth of 37%; the average coal consumption rate was 318.4 g/kWh, with a year-to-year decrease of 5.36 g/kWh; gained approval for 7810MW of new power projects, and put into operation 5120MW of new power projects. Huaneng Renewables Corporation Limited was successfully listed in the Stock Exchange of Hong Kong, and raised 6.617 billion HKD. The Group successfully acquired 50% stake of InterGen N.V., thus expanded its overseas business to seven countries in four continents, with overseas equity installed capacity approximating 6000MW. The Group is once again listed as one of the Fortune 500 Companies, ranking 275, which increased by 38 positions compared with last year.

Cao Peixi made a profound analysis on the current situation faced by the Group, and proposed working priorities in the second half year, that is, to put emphasis on safety, to broaden sources of income and cut cost, to increase efficiency, and to strengthen confidence, so as to fulfill the annual performance goal and strive to achieve Class A from the assessment of SASAC, and strive to build Huaneng into a world-class company with international competitiveness. Cao Peixi requires each department and subsidiary units of China Huaneng Group to further strengthen production safety management; to strengthen operation and spare no efforts to improve economic benefits; to optimize and adjust the structure, and accelerate the transformation and development model; to intensify efforts on capital operation, and strive to broaden the sources of capital fund; to enhance energy saving and emissions reduction management, and to strengthen technological innovation.

Huang Yongda emphasized in his closing speech that the purport of the conference should be fully comprehended, and that all staff and workers should stay consistent with the decisions and deployments of the Group Company both in thoughts and actions, and should strive to improve value-creating capability and sustainability, so as to fully accomplish various annual tasks, to make firm strides on the path towards a world-class company with international competitiveness, and to make more contribution to building a moderately prosperous society.