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Brokerage morning meeting highlights: The construction of a national unified electrical utilities market is accelerating, bullish on three main lines.
In today's brokerage morning meeting, htsc stated that the construction of a national unified electrical utilities market is accelerating, with a bullish outlook on three main lines; Galaxy Securities indicated that 5G applications are expected to develop on a large scale, selecting high-quality symbols with improved marginal prosperity; haitong sec expressed a bullish view on the steady rise of rare earth prices.
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.
Investors Continue Waiting On Sidelines For China Resources Power Holdings Company Limited (HKG:836)
Guozheng International: From January to October, the data on electricity generation maintained a high growth rate. It is suggested to pay attention to china power (02380) and others in the electrical utilities industry.
Guotai Junan International recommends investors to pay attention to China Resources Power (00836), China Power (02380), and China Longyuan (00916).
China Logs 15% Rise in Installed Power Generation in January-October
Daiwa: Next year, nuclear power is the most preferred in the electrical utilities industry. CGN Power's target price has been raised to 2.9 Hong Kong dollars.
Daiwa released a research report stating that looking ahead to next year, the ranking is nuclear power/coal-fired power/hydropower, with renewable energy coming in last. The bank raised the target price of CGN Power (01816) from 2.1 Hong Kong dollars to 2.9 Hong Kong dollars; and upgraded the rating of China Resources Power (00836) from "underperform" to "hold," as bearish factors have eased and the yield has reached 4%. The bank believes that hydropower valuation in the industry is relatively high, requiring a better entry opportunity; the utilization rate and price reduction of wind power remains an issue. Daiwa explained that the electrical utilities sector has outperformed the overall market in the first three quarters, benefiting from these stocks' continued "de-risking".
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