It is reported that Huadian Energy Co plans to pay CNY 389.4 million to acquire a Chinese power company in the northeastern province of Heilongjiang from Qiqihaer Xinbao Heating & Power Co and Singapore-based Asia Power Corporation Ltd.

The Chinese electric company said in a separate statement that Huadian expects a CNY 148 million loss in the first half on a surge in coal prices.

(Sourced from China Daily)