BRIEF-China Resources Power posts FY net profit of about HK$7,708 million, down 23.1%

March 23 (Reuters) - China Resources Power Holdings Co Ltd

* Plans to implement its shutdown plan of some of its coal

mines gradually from 2017 to 2020

* Board resolved to recommend a final dividend of hk$0.75

per share for 2016

* For 2016, profit attributable to owners of company

amounted to approximately hk$7,708 million, down 23.1%

* Growth rate of power consumption is expected to remain

stable year-on-year in 2017

* In 2017, group will continue to implement lean management

throughout its operational power plants

* In 2017, group plans to upgrade 6 coal-fired generation

units with ultra-low emission facilities

* FY turnover hk$66.21 billion versus hk$71.44 billion

* In 2017, group has no additional coal-fired units to


* Estimated cash capital expenditure of group for 2017 is

expected to be approximately hk$15.6 billion

Source text for Eikon:

Further company coverage: