HUANENG Power International posted a 38 per cent earnings growth in the first six months of the year. Net profits were 533.76 million yuan (about HK$496.39), compared with 386.89 million yuan for the same trading period of last year. Huaneng is listed on the New York Stock Exchange. Earnings per share were 11 fen against eight fen in 1994. Per American Depositary Share earnings were 4.27 yuan, or 51 US cents. Operating profits in the half were 2.11 billion yuan, a 4.1 per cent increase over first-half 1994. Operating expenses increased 7.6 per cent to 1.56 billion yuan. Huaneng owns and operates five power plants with an aggregate installed capacity of 2,900 megawatts in Liaoning, Fujian, Hebei, Jiangsu and Guangdong.