Costs on the rise
Source: Xinhua |
April 22, 2010, Thursday
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Print Edition
Print Edition
SDIC Huajing Power Holdings Co Ltd, a major Chinese electricity producer, said its 2009 net profit had declined 19.3 percent year on year on increased business costs and weak demand.
Net profit fell to 531 million yuan (US$77.8 million), even as revenue grew 8.48 percent from the previous year to 11.9 billion yuan, according to its annual report filed with the Shanghai Stock Exchange yesterday.
The firm said costs increased at a faster rate than revenue and that electricity demand had softened in 2009.
The company's A-share stock price had gained 1.7 percent to hit 8.98 yuan per share at midday yesterday.
Net profit fell to 531 million yuan (US$77.8 million), even as revenue grew 8.48 percent from the previous year to 11.9 billion yuan, according to its annual report filed with the Shanghai Stock Exchange yesterday.
The firm said costs increased at a faster rate than revenue and that electricity demand had softened in 2009.
The company's A-share stock price had gained 1.7 percent to hit 8.98 yuan per share at midday yesterday.
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