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研报掘金丨长江证券：维持华能国际“买入”评级，二季度火电业绩或维持稳健

Research reports | Changjiang Securities: Maintain the buy rating on Huaneng Power International, Inc., and the performance of thermal power in the second quarter may remain stable.

Gelonghui Finance ·  Jul 19 03:28

According to Changjiang Securities' research report, Huaneng Power International's performance outlook is sound due to cost optimization despite seasonal limitations on electricity consumption. The second quarter is generally an off-peak season for electricity consumption. The company has optimized the operation of its units in advance and arranged maintenance schedules reasonably to ensure the power supply during the peak summer period. In addition, the high production of hydropower in the second quarter has also to some extent squeezed the company's thermal power output. Overall, although both the volume and price of the company's thermal power face certain pressures compared to the previous year, since thermal power profitability is relatively sensitive to coal prices, it is expected that the same-period drop in coal prices will still dominate the performance of thermal power and the second-quarter thermal power performance may remain stable. We maintain our "buy" rating on the company.

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