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Huaneng to open 5.9 pct down after profit warning

Tue Jul 15, 2008 9:57pm EDT

Stocks

   

HONG KONG, July 16 (Reuters) - Shares of Huaneng Power International (0902.HK) were set to open 5.91 percent lower after China's largest listed electricity provider warned of a possible first-half loss.

China

The stocks of Huaneng (600011.SS)(HNP.N) are set to open at HK$4.78, versus the last trading price of HK$5.08 prior to a trading suspension on Tuesday.

Huaneng estimated on Tuesday it may have made a loss in 2008's first half because of a sharp rise in coal prices, confirming a Reuters report.

The firm said in a statement it made a net profit of 2.94 billion yuan ($431 million) in 2007's first six months, based on Chinese accounting standards. (US$1=HK$7.8) (Reporting by Donny Kwok; editing by Ken Wills)

China


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