
Photo: Reuters
China: Power Production Utility Claims 58% Loss In Profits
China on October 27, reported heavy loss in profits due to the surging coal prices. Huadian Power International, a subsidiary of China Huadian Corp, reported that the profits for January- September period dropped 58% which is estimated to be 1.8 billion Yuan. Analysts blame the losses incurred due to an incredible surge in thermal coal prices, along with a high demand of electricity in the country.