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China Yangtze Power earns RMB 7.7 bln in 2011

Apr. 27, 2012 (China Knowledge) - China Yangtze Power Co<600900>, the country's largest listed hydropower corporation and operator of the massive Three Gorges Dam in Southwest China, said yesterday that its net profit declined 6.38% year on year to RMB 7.7 billion last year, due to a decrease in power output.

Basic earnings per share were RMB 0.47 in 2011, down 6.38% year on year. The company proposed a dividend of RMB 2.55 per ten shares.

China Yangtze Power saw its operating revenue fall 5.39% year on year to RMB 20.7 billion in 2011 as its electricity output slid 6.02% to 94.56 terawatt hours in the year.

Meanwhile, the power producer reported a net profit of RMB 414 million for the first quarter, 36.13% less than in the same period of 2011. Operating revenue decreased to RMB 3.34 billion in the period from RMB 3.50 billion in the first quarter of last year.

This year, the company aims to produce 104 TWhs of electricity, of which 88 TWhs is from the Three Gorges Dam and 16 TWhs from the Gezhouba Dam.

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