Jan. 6, 2012 (China Knowledge) - State Grid Corp of China
, the nation's largest power supplier, said yesterday that its gross profit rose 18% year on year to RMB 53.3 billion in 2011.
The company's operating revenue increased 11.6% year on year to RMB 1.68 trillion last year, said Liu Zhenya, General Manager of the company, at a meeting.
Liu noted that the company's fixed-asset investment grew 13.5% year on year to RMB 330.3 billion in 2011, including RMB 301.9 billion investment in power grid construction.
State Grid sold 3,092.5 terawatt hours of electricity in the year, 13.7% more than that in 2010.
For 2012, the company aims to increase its gross profit by 16% year on year to RMB 62 billion, with operating revenue rising 15.9% to RMB 1.94 trillion.