• Sat
  • Dec 20, 2014
  • Updated: 11:02pm

China Resources Power

China Resources Power Holdings was incorporated and registered in Hong Kong in 2001. It is a subsidiary of China Resources Holdings, a conglomerate in China and Hong Kong. Its business is focuses on developing, operating and managing coal-burning power plants in China, including Beijing, Hebei, Henan, Liaoning, Shandong, Jiangsu, Anhui, Zhejiang, Hubei, Hunan, Guangdong and Yunnan. 

China Resources Power drops after president’s departure amid graft probe

Wang Yujun has resigned from his president and executive director positions at China Resources Power with effect from Monday. Photo: Felix Wong

Shares in China Resources Power dropped as much as 5.5 per cent after it was announced that the temporary suspension of president Wang Yujun, under criminal detention on corruption allegations, had been made permanent.

Monday, 22 September, 2014, 1:29pm

CRP shares rise after it books HK$2b of impairments on coal mining assets

China Resources Power's power output in the first half rose 8.3 per cent. Fuel cost per unit of output fell 11.7 per cent. Photo: Bloomberg

Shares of China Resources Power rose 2 per cent on Tuesday morning after it booked HK$2 billion of impairments on its coal mining assets.

20 Aug 2014 - 5:03am

Fresh lawsuit against China Resources Power looms

Analysts said CRP may have to book some asset write-downs, given coal prices have been falling precipitously since late 2011.

Minority shareholders of China Resources Power Holdings (CRP) plan a fresh lawsuit against the firm's directors if they can raise sufficient funds, sources close to the case told the South China Morning Post.

5 May 2014 - 6:37am

Sacked Shanxi mayor linked to China Resources Power mine acquisitions

Yan Guoping signed a transfer agreement with Shanxi Jinye Group (Jinye) in August last year in which Jinye transferred mining rights of the Hongyatou coal mine to CR Taiyuan.

A former mayor in Shanxi, who was sacked for failing to curtail illegal mining operations in his city, has turned out to be a key figure in helping China Resources to make inroads in the coal-rich province.

28 Apr 2014 - 5:02am

CRP 'has no plans' to play Hong Kong's power game

CRP has budgeted HK$16 billion for coal-fired plants this year.

China Resources Power played down a recent call by two of its senior executives for Hong Kong to "nationalise" local power supply assets after it posted a 47 per cent profit rise for last year.

18 Mar 2014 - 1:11am

Shareholders drop suit against China Resources Power directors but may launch a wider one

Song Lin is one of the CRP directors against whom the court case was brought. Photo: Jonathan Wong

Six minority shareholders of China Resources Power have withdrawn their claim of a breach of fiduciary duties by the firm's directors after the High Court judge rejected an application to add new allegations to the original complaint.

8 Jan 2014 - 4:04am

CRP directors accused of lying about joint venture

The venture was formed to buy a stake in a basket of coal assets.

Minority shareholders of China Resources Power Holdings (CRP) have accused its directors of lying about the extent of its control over a coal joint venture, which was the centre of alleged breach of fiduciary duties by directors, the High Court heard.

7 Jan 2014 - 3:36am

Court to hear case against CRP bosses

Court to hear case against CRP bosses

The Hong Kong High Court will today hear a petition by six minority shareholders of China Resources Power demanding the company sue its directors for alleged breach of fiduciary duties.

8 Oct 2013 - 3:28am

China Resources Power bosses deny coal mine-purchase fraud accusation

Wang Yujun says the firm is not buying more mines. Photo: Felix Wong

Senior executives of China Resources Power maintain they are not aware of any irregularities concerning a controversial acquisition of coal mines in 2010.

20 Aug 2013 - 4:12am

More questions raised in CRP case

Exploration rights over two coal mines that China Resources Power bought in 2010 had expired, a High Court writ claims. Photo: Reuters

The mystery of alleged negligence by management of China Resources Power in the firm's 2010 acquisition of coal-mining assets in Shanxi province has grown murkier. Official documents show that exploration rights of two mines were transferred by the seller to CRP late last month.

5 Aug 2013 - 3:35am

Ex-journalist to take China Resources 'corruption' files to Hong Kong investigators

Former investigative reporter Li Jianjun plans to make whistle-blowing a profitable business. Photo: Wang Feng

An independent mainland investigator with ambitious plans to topple the chairman of one of the country’s largest state-owned conglomerates with corruption charges has announced he would visit Hong Kong’s top anti-graft bodies on Monday and turn over evidence on alleged mismanagement, negligence and corrupt activities involving dozens of senior corporate executives.

29 Aug 2013 - 4:13am

China Resources investors await answers after overpaying accusation

Hongyatou mine. Photo: Eric Ng

Nearly a week after a whistle-blower publicly accused the management of China Resources Power of negligence in a major acquisition of coal assets, investors are nowhere nearer to learning the reality of what may have gone astray.

24 Jul 2013 - 3:58am

China Resources Power shares surge on failed deal

Shareholders attend the AGM of China Resources Power Holdings. Photo: Sam Tsang

Shareholders of China Resources Power saw HK$4 billion added to the value of their holdings yesterday as the company's stock jumped 5 per cent after a merger deal with China Resources Gas lapsed.

23 Jul 2013 - 6:03am

CRP shareholders set to reject CRG merger

CRP is mainly a coal-fired power generator which has diversified into coal mining, while CRG is an urban natural gas distributor. Photo: AP

"The merger has always been unlikely to win shareholders' support; the events in the past week made it even less likely to succeed," said Michael Parker, a senior analyst at American brokerage Sanford C. Bernstein. "There is real uncertainty what CRP's strategy is."

22 Jul 2013 - 5:33am

Beijing launches audit of China Resources

Beijing launches audit of China Resources

Beijing has launched an audit of China Resources (Holdings) after top managers of the conglomerate's electricity unit were accused of causing a major loss of state assets by overvaluing some mining assets it acquired.

20 Jul 2013 - 5:33am

Pages