Huaneng Power International Inc, a listed subsidiary of China Huaneng Group, saw its net profit plummet 82.7% to 1.79 billion yuan ($282.92 million) over 2017, the second straight year of decline due to high coal prices, it said in a file to Shanghai Stock Exchange.
In 2017, high coal prices put a lot of pressure on the company's operations, the company said.
With the continued cuts in obsolete coal capacity in 2018 due to the government's policy, the company will face some challenges in getting coal supply, according to the file.
(Writing by Jessie Jia Editing by Harry Huo)
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