According to the research report released by Bocom Intl, China Longyuan (00916), the parent company of the company, plans to inject some eligible new energy assets into the company, with an expected scale of about 4 gigawatts, which is consistent with the bank's expectation that the company will partially fulfill its acquisition commitment. The company stated that the new energy assets of the parent company will be injected in batches, and the bank estimates that the first batch of projects is highly likely to begin to be injected into the company's work within this year. At present, the bank prefers the company to pay the acquisition amount with internal resources and bank loans.
As the above transaction is still pending, the bank maintains its target price and financial estimates unchanged. The bank believes that the restart of the acquisition of new energy assets of the parent company is of great significance for the company. At the same time, since the new leadership team took office, two important restructuring plans have been launched, and the execution strength is worth the investors' expectations. In the short term, the bank believes that it will support a slight valuation improvement. The medium-to-long term valuation improvement will depend on the company's visibility in further acquiring the parent company's assets in the medium-to-long term. Maintains a buy rating.