SDIC to boost interest in SDIC Huajing Power by 2%
Aug 18, 2011 - Chinese SDIC Huajing Power Holdings Co Ltd (SHA:600886) said earlier this week that its parent -- State Development Investment Corp (SDIC) -- would bolster its share in the company by as much as 2% in the next 12 months.
At present, SDIC holds a 70.61% stake in Huajing Power, or 1.41 billion of the company's stock.
SDIC Huajing develops and operates wind, thermal and hydropower plants. Just recently, the company reported a net profit for the first half of 2011 of CNY 122 million (USD 19m/EUR 13.3m), up 2.84% year-on-year.
Revenue stood at CNY 9.61 billion, up 26.75% in annual terms. The company produced 29.78 TWh of power during the reporting period, an increase of 14.99% year-on-year.