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China Resources Power (00836) sold 19.04145 million megawatt hours of electricity in August, an increase of 10.0% year-on-year.
China Res Power (00836) announced that the sales volume of its subsidiary power plants reached 19,041,450 million in August 2024...
Express News | China Resources Power - Total Net Generation of Subsidiary Power Plants in Aug up 10.0% to 19 Mln Mwh
Brokerage Focus: CCB International maintains a "buy" rating on China Res Power (00836), indicating the continuous verification of the company's excellent governance ability.
Goldman Sachs released research reports stating that China Res Power (00836) had a first-half net profit attributable to equity holders of 9.363 billion Hong Kong dollars, a year-on-year increase of 38.91%. In the first half of the year, the company added wind and photovoltaic installed capacity of 0.50GW and 1.56GW respectively. The slightly poor wind conditions dragged down the performance of new energy, but the stability of new energy electricity prices exceeded expectations. The bank pointed out that the company proposed to add 40GW of new energy installed capacity during the 14th Five-Year Plan in 2020, with a firm goal of clean transformation of installed capacity. The company plans to spend 59.9 billion Hong Kong dollars on capital expenditures in 2024, with 44.6 billion Hong Kong dollars allocated for wind power and solar.
Daiwa: Downgrades china res power rating to 'underperform' with a target price cut to 17.7 Hong Kong dollars.
Daiwa released a research report stating that it has downgraded the rating of China Res Power (00836) from "hold" to "underperform the market", and has lowered its earnings forecast per share for 2024-2026 by 6% to 16% to reflect the downward revaluation of potential valuation. The target price has been lowered from HKD 20 to HKD 17.7. The report points out that due to potential cold winter and stagnation in the wind power industry, the Res Power thermal power business faces the risk of profit contraction. This winter, China may face a cold winter due to the La Niña phenomenon, and the spot coal price in the second half of the year increased by 39% year-on-year compared to the winter when the phenomenon occurred in 2022, while the Res Power thermal power business recorded a net loss during the same period.
CITIC Securities: The profit decline of the electrical equipment industry narrows, and leading enterprises show significant excess.
The top electrical utilities companies rely on their advantages in products and market layout, as well as their first-mover advantage, to bring significant profitability. Their performance in exceeding industry-wide growth is stable, which aligns well with the current domestic and international resonance in the electrical utilities system construction cycle.
Hong Kong stocks fluctuate | China Res Power (00836) falls by over 5% again. Daiwa mentioned the risk of profit shrinkage in the thermal power business, while the wind power business may continue to be in a downturn.
China Res Power (00836) fell more than 5% again, with a cumulative decline of over 17% after the performance. As of the time of publication, it fell 5.14%, to HKD 18.44, with a turnover of HKD 0.165 billion.
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