08:59     HUANENG POWER<00902> - Results Announcement (1)                     

    Huaneng Power International Inc. announced on 15/03/2005:                 
    (stock code: 00902 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: RMB                                                             
    Auditors' Report: Unqualified                                             
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2004    from 01/01/2003   
                                         to 31/12/2004      to 31/12/2003     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 30,118,278         23,388,237        
    Profit/(Loss) from Operations      : 7,000,502          7,148,981         
    Finance cost                       : (782,876)          (597,329)         
    Share of Profit/(Loss) of                                                 
      Associates                       : 377,565            212,091           
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 5,323,876          5,430,408         
    % Change over Last Period          : -1.96     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.44               0.45              
             -Diluted (in dollars)     : 0.44               0.45              
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 5,323,876          5,430,408         
    Final Dividend                     : RMB0.25            RMB0.25           
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : To Be Announced                      
    Payable Date                       : 30/06/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : To Be Announced                      
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Analysis of turnover from continuing operations and discontinued  
    operations                                                                
                                                                              
    For the year ended 31st December, 2004, the consolidated net operating    
    revenue of the Company and its subsidiaries amounted to Rmb30.118 billion,
    representing an increase of approximately 28.78% over the Rmb23.388       
    million in prior year.  The increase of the net operating revenue is      
    mainly due to the increase of generation capacity, operating hours of the 
    power plants and the average tariff rates.  The increase of generation    
    capacity was mainly attributable to the acquired power plants in current  
    year which contributed approximately Rmb2.573 billion net operating       
    revenue to the Company and its subsidiaries. Excluding the impact of      
    acquisition, the increase of the utilization rate and average tariff rates
    contributed approximately Rmb3.392 billion and Rmb765 million net         
    operating revenue to the Company and its subsidiaries in the current year 
    respectively.                                                             
                                                                              
    2.      An analysis of profit / (loss) from continuing operations and     
    discontinued operations                                                   
                                                                              
    The consolidated profit from operations of the Company and its            
    subsidiaries amounted to approximately Rmb7.001 billion, representing a   
    decrease of approximately 2.08% from approximately Rmb7.149 billion in    
    prior year.  The significant increase in operating expenses primarily     
    contributed to the decrease in such a decrease.  Although the increase in 
    power output and the average tariff rates and the acquisitions in 2004    
    contributed to an increase in net operating revenue and net profit        
    respectively, all these factors cannot be fully offset the increase in    
    operating expenses (particularly the increase in fuel costs, please see   
    note 3 below).  Hence, the profit from operations decreased from prior    
    year slightly.  Excluding the impact from current year acquisition, profit
    from operations decreases by approximately 9.1% from that of prior year.  
                                                                              
    3.      Details of any items before taxation of the current and/or prior  
    period which are of such size, nature or incidence that their disclosure  
    is relevant to explain the financial performance for the period should be 
    disclosed separately in note form, divided into those arising from        
    continuing operations and those from discontinued operations.             
                                                                              
    Fuel cost represented the major operating expenses of the Company and its 
    subsidiaries, which has increased by approximately 67% from prior year.   
    The increase in coal consumption as a result of increasing power          
    generation of the Company and its subsidiaries and the increase in fuel   
    price primarily contributed to an increase in fuel cost.  There was an    
    increase of approximately 32.97% of unit fuel cost from prior year in     
    2004.                                                                     
                                                                              
    Depreciation and amortization expenses of the Company and its subsidiaries
    have increased by approximately 14.32% from prior year within which the   
    newly acquired power plants in 2004 contributed to an increase of         
    approximately 12.34%.