Datang Intl Power 0991

Datang Intl Power 0991

Postby winston » Thu Jul 24, 2008 9:16 pm

Not vested.

Datang profit falls 70pc

Datang International Power (0991), China's second-largest listed electricity provider, estimated its first half net profit fell more than 70 percent due to a sharp rise in coal prices.

It said in a statement it made a net profit of 2.3 billion yuan (HK$2.62 billion) in the first six months of 2007, based on Chinese accounting standards.

China's top independent power producer Huaneng Power International (0902) said earlier this month it may have made a loss in the January-June period for the same reason.

REUTERS
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Datang Intl Power 0991

Postby winston » Thu Aug 28, 2008 8:05 am

Not vested.

Datang calls for price hike to pay its coal bill
Kathy Wang

Power generator Datang International Power (0991) reckons it needs a tariff hike of 0.05 yuan (5.7 HK cents) per kilowatt hour to fully offset the rise in coal costs - and that is if domestic coal prices do not shoot up further this year.

Its president, Cao Jingshan, said at a press conference yesterday that the firm enjoys a 600 million yuan revenue increase for every 0.01 yuan/kwh tariff hike.

"The domestic thermal coal price peaked in April and will start to factor into our business from July, so we still feel some pressure after the tariff hikes last month," Cao said. "But we do see the thermal-coal price growth trending down in the second half."

China's National Development and Reform Commission announced on Tuesday it was to push to curb domestic coal price hikes.

The top planning agency said the domestic price in Qinghuangdao, one of most important coal trading markets, fell for the first time since April, according to the China Securities Journal.

Datang aims to have total installed capacity of 28,000 megawatts by the end of this year. It also plans to have 40 percent of its coal needs for power generation supplied internally by 2012.

The firm received government approval in the first half of the year to develop eight new power projects with a total installed capacity of 7,147 megawatts.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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