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Citic Securities: Profit improvement in clean energy operation in Q3 24, highlighting the bright spots of thermal power operation.
Under the influence of weak wind conditions and pressure on electricity prices, the revenue of the new energy generation sector only increased by 0.76% year-on-year; the net income attributable to the parent company decreased by 5.79% year-on-year.
Chinese Solar Firms, Ever-nimble, Go Further Afield Where US Tariffs Don't Reach
Regera Life once again takes action on China Longyuan Power's H shares, making it the 12th time this year that insurance funds have disclosed holdings in listed companies, reaching a nearly 4-year high in frequency.
①The source of the stakeholding funds is from own funds account, universal and bonus account insurance liability reserve; ②As of November 1st, insurance companies have conducted a total of 12 stakeholdings this year, holding stakes in 11 listed companies; ③Insurance companies frequently hold stakes, which is related to the adjustment of investment strategies by insurance assets under the background of new accounting standards.
Citi: Reiterated a buy rating on China Longyuan, with target price raised to 8 Hong Kong dollars.
Citigroup's research report stated that it reiterates a 'buy' rating on China Longyuan (00916) to reflect the growth of wind power capacity and the cheap valuation. Taking into account the injection of assets from the parent company and the performance in the first three quarters, it is believed that China Longyuan's net income for 2024 to 2026 will increase by 6.7% to 9.1%; with profit adjustments and receiving more renewable energy price subsidies, the target price will increase by 17.6% to 8 Hong Kong dollars.
China Longyuan Power's Q3 Profit Jumps 42%; Shenzhen Shares Rise 8%
Hong Kong stocks are on the move | Wind power stocks rose across the board in early trading. Six departments have issued new policies on renewable energy substitution actions. Institutions state that the wind power fundamentals have substantially improved
Wind power stocks rose across the board in early trading. As of the time of publication, Goldwind Science& Technology (02208) rose by 6.13% to HK$6.92; China Longyuan (00916) rose by 5.51% to HK$7.09; China Suntien (00956) rose by 1.73% to HK$3.53; Dongfang Electric Corporation (01072) rose by 1.4% to HK$10.14.
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