Huaneng Power to Seek Shareholders’ Nod for RMB170 Billion Debt Quota, 20% Share-Issue Mandate and RMB12.75 Billion Renewable Loans

Bulletin Express05-22 22:43

Huaneng Power International will convene its 2025 AGM on 16 June 2026 in Beijing. Key resolutions to be put before shareholders include:

1. Debt-Financing Mandate • Board authorisation to issue domestic and/or overseas debt instruments—covering corporate bonds, medium-term notes, perpetual bonds and similar products—up to a rolling outstanding balance of RMB170.00 billion between the 2025 and 2026 AGMs. • Directors may decide tranche size, tenor, currency and coupon via book-building and make all necessary filings.

2. Share-Issue General Mandate • Board empowered to allot and deal with additional shares—A or H, or convertible securities—up to 20% of the existing issued share capital (about 3.14 billion shares) before the next AGM, with flexibility to adjust for any share consolidation or subdivision.

3. Continuing Connected Transactions • Renewable entrusted loans: up to RMB11.75 billion to Huaneng Shandong Power Generation and up to RMB1.00 billion to Huaneng Chaohu Power. • Funds will be sourced from the company’s special energy-supply bonds and bear a fixed rate equal to the bond funding cost plus applicable taxes; there is no fixed maturity. • Loans aim to lower the subsidiaries’ leverage and support thermal-power supply. • Huaneng Group and its associates, holding 46.23% of shares, will abstain from voting on this item.

4. Directors’ Remuneration • Internal executive directors received a combined RMB18.23 million (pre-tax) for 2025; the meeting will confirm 2025 remuneration and consider the 2026 remuneration plan and a new remuneration management system.

The board and an independent financial adviser both deem the loan terms fair and in the interests of all shareholders. If mandates are approved, the company will retain wide financing flexibility ahead of the 2026 AGM.

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