Huaneng Power Faces Significant Asset Impairment Loss

Huaneng Power International (HK:0902) has released an update.

Huaneng Power International has recorded an asset impairment loss of 1,193 million RMB for the first three quarters of 2024, significantly impacting its consolidated profit. This impairment includes substantial losses from the Jining Power Plant and the Nong’an Biomass Power Plant due to long-lived asset impairments and inventory value declines. The company’s board and supervisory committee have both approved these provisions, ensuring compliance with Chinese accounting standards.

For further insights into HK:0902 stock, check out TipRanks’ Stock Analysis page.