Huadian Energy Co., Ltd, a listed company of state-run China Huadian Corporation, expects a loss of around 550 million yuan ($85.03 million) in the first half of the year, the company said in an announcement released lately.
The weak performance was mainly ascribed to surging coal prices, which substantially pulled up fuel costs. A decline of the profit of shareholding units that impacted its investment income and lower power generation were also reasons to the loss, the company said.
Huadian Energy is the largest power generator and central heating supplier in northeastern China's Heilongjiang province.
As of the end of 2020, the company had nine wholly-owned and controlled power plants in operation, all of which are thermal plants, with combined installed capacity at 6.49 GW and total heating area covering about 117 million square meters.
(Writing by Emma Yang Editing by Harry Huo)
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