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SDIC Power's net profit drop 48.6% in 2011

Apr. 12, 2012 (China Knowledge) – SDIC Power Holdings Co Ltd<600886>, a subsidiary of State Development & Investment Corp, announced its net profit attributed to shareholder plunged 48.6% year on year to RMB 259 million in 2011, mainly caused by the significant increase in coal prices.

In a statement filed with the Shanghai Stock Exchange, the power company saw its operating revenue increased 4.2% year on year to RMB 21.7 billion in 2011.

Basic earnings per share were RMB 0.13, drop 49.33% from a year earlier, and a final dividend of RMB 0.15 per ten shares was declared.

At the end of last year, SDIC Power saw its total asset under construction reached RMB 61.58 billion, including RMB 59.87 billion in the construction of Ertan hydropower station, source reported.

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