No Data
China Longyuan Power Relocates Hong Kong Office
Hong Kong stocks fluctuated | Electric Power stocks collectively declined. Long-term contract electricity prices were signed in Guangdong, Jiangsu and other regions. Institutions claim that electricity price risks are expected to be cleared.
The Electric Power stocks fell collectively. As of the time of reporting, Huadian Power International Corporation (01071) dropped by 3.75% to HKD 3.59; CHINA LONGYUAN (00916) fell by 3.28% to HKD 5.6; CHINA RES POWER (00836) decreased by 2.76% to HKD 16.94; Huadian Power International Corporation (00902) declined by 2.5% to HKD 3.9.
[Stock Connect] CHINA LONGYUAN (00916) dropped 3.45%. Citigroup indicated that competition led to a decrease in electricity prices and reduced its Target Price by 10%.
Jinwu Financial News | CHINA LONGYUAN (00916) is experiencing fluctuations and declines, currently down 3.45% at HKD 5.59, with a trading volume of 0.186 billion HKD. In news, Citigroup released a Research Report stating that based on the latest information from CHINA LONGYUAN, the profit forecast for this year and next year has been lowered by 4.1% and 9.2% respectively, due to competition leading to price reductions and delays in the commissioning of new capacity. The bank has reduced CHINA LONGYUAN's Target Price by 10% to HKD 7.20. It is given a 'Buy' rating, based on a projected PE of 7.1 times this year and a projected PB of 0.6 times, indicating that the valuation is cheap. The bank predicts that CHINA LONGYUAN's net profit grew by 2.9% year-on-year last year.
Counterpoint Research: By the first half of 2024, China will exceed 60% of the Global passenger electric vehicle market share.
Advanced technology, manufacturing automation, and the ability to provide feature-rich products at competitive prices have given Auto Manufacturers in China an advantage for Global expansion.
Investors Met With Slowing Returns on Capital At China Longyuan Power Group (HKG:916)
Soochow: Optimize the Electrical Utilities system adjustment capacity and accelerate the construction of a new type of Electrical Utilities system.
As the development of green electricity continues to advance in quality, construction investment is stabilizing. With the enhancement of reasonable consumption and utilization capacity, the absorption of New energy Fund is expected to be optimized between 2025 and 2027.
No Data
