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HTSC: High demand for electrical utilities in China and the US, continued high prosperity in grid investment and exports.
China's electrical utilities investment data is strong, and the annual investment growth rate of electrical utilities is expected to reach 10%+. The central oversea electrical utilities investment also continues to grow at a high rate due to electrical utilities demand and infrastructure. Currently, the demand for electrical utilities in the European and American markets is stronger than in non-electrical utilities markets.
Huaneng Power International to Possibly Provide Liquidity Support to Unit
Huaneng Power International (HKG:0902, SHA:600011) has executed a letter of support to provide liquidity support to unit Huaneng Shandong Power Generation, a Friday bourse diling said.Under the
Huaneng Power International Directors Approve Purchase of 30% Stake in Wind Power Company
Huaneng Power International (HKG:0902, SHA:600011) directors approved the purchase of a 30% stake in offshore wind power company Huaneng Rudong Baxianjiao Offshore Wind Power from China Hua Neng
Research reports | Changjiang Securities: Maintain the buy rating on Huaneng Power International, Inc., and the performance of thermal power in the second quarter may remain stable.
According to Changjiang Securities' research report, Huaneng Power International's performance outlook is sound due to cost optimization despite seasonal limitations on electricity consumption. The second quarter is generally an off-peak season for electricity consumption. The company has optimized the operation of its units in advance and arranged maintenance schedules reasonably to ensure the power supply during the peak summer period. In addition, the high production of hydropower in the second quarter has also to some extent squeezed the company's thermal power output. Overall, although both the volume and price of the company's thermal power face certain pressures compared to the previous year, since thermal power profitability is relatively sensitive to coal prices, it is expected that the same-period drop in coal prices will still dominate the performance of thermal power and the second-quarter thermal power performance may remain stable. We maintain our "buy" rating on the company.
Daiwa has lowered the target price of Huaneng Power International (00902) to HK$5 and downgraded its rating to "hold".
Daiwa expects that the company's profits in the second quarter of this year may remain flat compared to the same period last year, and takes a cautious attitude towards profit growth in the third quarter. It has lowered the revenue forecast for 2024 to 2026 by 1% to 2%, and lowered the earnings per share forecast for 2024 by 4%.
Huaneng Power: the joint venture intends to acquire a 30% stake in Baixianjiao Company for no more than 0.582 billion yuan.
Huaneng Power (00902) announced that on July 18, 2024, the board of directors approved a partnership agreement to acquire 30% equity interest in Baxianjiao Company from Huaneng Hong Kong for a total consideration of no more than RMB 0.582 billion in accordance with the upcoming equity transfer agreement to be signed between Huaneng Jiangsu (a wholly-owned subsidiary of the Company), Huaneng Hong Kong, partnership and Baxianjiao Company. Meanwhile, according to the equity transfer agreement, Huaneng Jiangsu agreed to sell and the partnership agreed to purchase 69.99% equity interest in Baxianjiao Company. It is reported that Baxianjiao Company mainly engages in the manufacturing of special equipment for offshore wind power generation and wind power generation.
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