FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
June, 2003
Huaneng Power International, Inc.
West Wing, Building C, Tianyin Mansion
No. 2C Fuxingmennan Street
Xicheng District
Beijing, 100031 PRC
This Form 6-K consists of:
An announcement of the resolution passed by Huaneng Power Interna
tional Inc. to acquire the interests and assets of three power plants owned by
Huaneng Group made on June 5, 2003, in English by Huaneng Power Interna tional
Inc.
[GRAPHIC OMITTED]
To: Business Editor
[For Immediate Release]
The Board of Directors of Huaneng Power International, Inc.
Passed the Resolution to Acquire the Interests and Assets of
Three Power Plants Owned by Huaneng Group
(Beijing, China, June 5, 2003) The Board of Directors of Huaneng Power
International, Inc. (the "Company") [NYSE: HNP; HKEx: 902; SSE: 600011] passed
the resolution for the RMB 550 million acquisition of the equity interests and
assets of three power plants from China Huaneng Group Corporation (the
"Huaneng Group"): (i) 55% equity interest of the registered capital of Henan
Qinbei Power Plant; (ii) 60% equity interest of the registered capital of
Shanxi Yushe Power Plant; and (iii) the entire assets and liabilities of
Shandong Xindian Power Plant. The consideration for the acquisition will be
funded by the Company's internal cash reserves. Accordingly, the Company and
the Huaneng Group signed a transfer agreement on the acquisition on the same
date. In addition, the acquisition is still subject to the approval at the
Company's independent shareholders meeting as well as approvals by relevant
government authorities.
The acquisition will further strengthen the market position of the Company in
Shandong Province which is undergoing rapid economic growth with strong demand
for power. Meanwhile, the Company will, for the first time, enter into the
power market of Henan Province and Shanxi Province which are important energy
bases in China with rapid growth in power consumption.
After the completion of the acquisition, net installed capacity owned by the
Company will increase by 770MW (on an equity basis) and total generation
capacity (on an equity basis) will increase from 14,780MW to 15,550MW,
representing an increase of 5.2%. In addition, the acquisition will further
increase net installed capacity under construction of the Company by 1,020MW
(on an equity basis).
J.P. Morgan Securities (Asia Pacific) Limited is financial advisor to the
Company in the transaction, and BNP Paribas Capital Limited and Guotai Junan
Securities Co., Ltd. are independent financial advisors for the transaction.
The Board of Directors of Huaneng Power International, Inc. - Passed the
Resolution to Acquire the Interests and Assets of Three Power Plants Owned by
Huaneng Group...P.2
Huaneng Power International, Inc. develops, constructs, operates and manages
large thermal power plants in China nationwide. It currently owns a total
generation capacity of 14,780MW on an equity basis, with another 10,629MW on
an equity basis under the Company's entrusted management. The Company wholly
owns thirteen power plants, and has controlling interests in three power
plants and minority interests in three power companies. To date, it is one of
the largest independent power producers in China.
~ End ~
For any details regarding this transaction, please refer to the announcements
published in Wen Wei Po and South China Morning Post dated June 6, 2003. The
soft copy of the announcement will also be made available at the following
websites:
Hong Kong Stock Exchange: http://www.hkex.com.hk
The Company: http://www.hpi.com.cn
For further information, please contact:
Ms. Meng Jing / Ms. Zhao Lin Huaneng Power International, Inc. Tel: (8610)
6649 1856 / 1866
Fax: (8610) 6649 1860
Email: ir@hpi.com.cn
Ms. Christy Lai / Ms. Edith Lui Rikes Communications Limited
Tel: (852) 2520 2201
Fax:(852) 2520 2241
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
under- signed, thereunto duly authorized.
HUANENG POWER INTERNATIONAL, INC.
By /s/ Wang Xiaosong
Name: Wang Xiaosong
--------------------------
Title: Vice Chairman
Date: June 5, 2003