Huaneng Hydropower optimizes capital with cash management, fund replacements

Huaneng Lancang River Hydropower Co., Ltd. disclosed its board of directors approved using temporarily idle raised funds, up to a maximum of 2 bn yuan, for cash management. These funds will be invested in highly secure and liquid products like principal-guaranteed wealth management products, structured deposits, and large-amount certificates of deposit, for a 12-month period. This initiative aims to enhance the efficiency and returns on the company's capital without disrupting ongoing investment projects.

Additionally, Huaneng Hydropower will replace 3,532,778,717.10 yuan of self-raised funds previously invested in the RM and TB Hydropower Station projects, along with 3,478,301.89 yuan used for issuing expenses. These will be replaced using proceeds from its non-public A-share offering. The offering, approved by the China Securities Regulatory Commission, raised a net amount of 5,803,125,714.35 yuan. The board confirmed these actions comply with regulations and will not affect the company’s normal operations.