Huadian Energy Co plans to pay 389.4 million yuan ($57.47 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, according to a statement to the Shanghai Stock Exchange.
Huadian expects a 148 million yuan loss in the first half on a surge in coal prices, the Chinese electric company said in a separate statement.