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Central Bank International: Next year, Nuclear Power prefers CGN MINING. In the Sector, recommend CHINA RES POWER and EB ENVIRONMENT.
CMB International released a research report stating that it maintains a "Shareholding" rating for the CHINA POWER Sector; meanwhile, the China Solar Energy Sector is maintained at a "Neutral" rating. Within its research scope, it prefers upstream Uranium mining companies rather than Nuclear independent power plants, thus next year the first choice for Nuclear Power is CGN MINING (01164). For the power sector, it recommends CHINA RES POWER (00836) and EB ENVIRONMENT (00257). The bank pointed out that in 2025, it remains more Bullish on the CHINA POWER sector than the Solar Energy sector, despite the expectation that the effective supply in the solar value chain will continue to decrease under increasing inventory pressure. However, the growth in demand lacks visibility.
Tianfeng Securities: The evolution of the assessment 'guiding stick' guiding central enterprises towards high-quality transformation.
Tianfeng released a research report stating that the State-owned Assets Supervision and Administration Commission proposed that the overall goal management system for central enterprises in 2024 should remain unchanged with 'one profit and five rates', with specific requirements being 'stable profit growth and continuous optimization of the five rates'.
China Everbright Environment Group (HKG:257) Is Reinvesting At Lower Rates Of Return
Citic Securities: The construction of a new electrical utilities system promotes the sustainable development of the power grid. It is expected that the investment growth rate of the power grid in 2025 will maintain double-digit growth.
In 2025, electrical utilities construction will continue to focus on the long-term requirements of "dual carbon" transformation and the construction of new power systems, continuing the trend of balancing the main grid and the distribution side of electrical utilities.
gf sec: Free cash flow of solid waste, water affairs, etc. turned positive in Q1-3 24, suggesting increased focus on debt restructuring.
Starting in October, the continuous increase in the scale of bond conversion will be a crucial indicator for next year. In addition to the "6+4" trillion yuan bond conversion scale, more attention should be paid to the central level's rolling over of bonds and continuous policy reinforcement by 2025.
China Securities Co., Ltd. Power Equipment New Energy Fund 25-year investment strategy: grasp three types of assets, energy storage dominates the whole year.
china securities co.,ltd. is most bullish on energy storage in the new energy fund sector of the power equipment sector.
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