The Datang International Power Generation Co. (Datang Power) announced Sunday its net profit surged 55.72 percent year on year to 652.37 million yuan (95.52 million U.S. dollars) in the first half of this year.
Datang International Power Generation Co (Datang Power), one of China's leading power producers, Tuesday said its net profit for 2008 fell 79 percent from a year before due to high coal prices in the first three quarters and sharp decline in power demand in the fourth quarter.
China Datang Corp, one of the country's five biggest power generators, has been given the green light to expand into the coal-mining business, the State-owned Assets Supervision and Administration Commission (SASAC) said on its website.
China Datang Corp, the Chinese power producer with investments in Laos, Cambodia and Kazakhstan, plans to explore the African market as the global financial crisis slows domestic demand for electricity.
Beijing-based Datang Telecom Technology & Industry Holdings Co is to invest US$172 million in the No. 1 made-to-order chip maker in the Chinese mainland to become the biggest single shareholder of Shanghai-based Semiconductor Manufacturing International Corp (SMIC).