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Citigroup: Downgrades rating of Huaneng Power International to "sell", lowers target price to HKD 3.6.
Citigroup's research report states that after Huaneng Power International (01071) recorded a 6.1% year-on-year decline in second-quarter profit, it downgraded its rating from "Neutral" to "Sell". After the company announced a drop in second-quarter profits, it lowered its profit forecast for this year to 2026 by 10% to 13%, and the target price was reduced by 20% to HKD 3.6. It believes that the 5.5% return on the stock is not attractive in a low degree of certainty. The bank pointed out that the positive impact of the decline in fuel unit costs seems to have been largely reflected over the past 18 months; electricity generation has decreased; more renewable energy is being used as a substitute; and with increased competition, electricity prices continue to decline.
China RES Power's photovoltaic sales volume in the first 7 months increased by approximately two times year-on-year. Yancoal Aus's mid-term after-tax profit fell by more than 50%. | Selected Announcement of Hong Kong Stock on August 19.
In the first 7 months, the photovoltaic sales of China Res Power increased by approximately twice on a year-on-year basis. How about the sales growth rate? Yancoal Aus's mid-term after-tax profit fell by more than 50%. How is their revenue performance?
China Res Power (00836) sold 18.3847 million megawatt hours of power in July, an increase of 0.03% year-on-year for its subsidiary power plants.
China Res Power (00836) announced that its affiliated power plant's electricity sales reached 18.3847 million megawatt hours in July 2024...
Express News | China Resources Power - Total Net Generation of Subsidiary Power Plants in July 18.4 Mln Mwh
Green energy concept stocks rise, Datang Renewables (01798) up 3.02%. Institutions indicate accelerating construction of new power systems, with hope for improvement in green energy absorption.
Jingu Finance | Green energy stocks rose collectively, Datang Renew (01798) up 3.02%, Datang International Power Generation (00991) up 2.6%, Huadian Power (01071) up 2.19%, Xinte Energy (01799) up 1.93%, Huaneng Power (00902) up 1.73%, China Res Power (00836) up 1.35%. Debon Securities stated on August 6 that the National Development and Reform Commission, the National Energy Administration, and the National Bureau of Statistics jointly issued the "Action Plan for Accelerating the Construction of a New Type of Power System (2024-2027)".
China Res Power (00836.HK) will hold a board of directors meeting on August 27 to approve the mid-term performance.
China Res Power (00836.HK) announced that the board of directors will hold a meeting on August 27th, 2024. The board of directors will approve the company's and its subsidiaries' six-month mid-term performance as of June 30th, 2024, and consider declaring mid-term dividends (if any).
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