Hong Kong stocks surge: Electric power stocks rise against the trend, IEA predicts that global demand for electricity will continue to grow strongly until next year, and domestic demand for electricity will increase by more than 6%.

Electric power stocks rise against the market. As of the time of writing, Datang Renew (01798) rose 3.92%, at HKD 2.12; CGN Power (00916) rose 3.88%, at HKD 3.46; Huadian Power International Corporation (01071) rose 2.02%, at HKD 4.04; China Res Power (00836) rose 2.08%, at HKD 22.10.

Zhitong Finance57minutes ago

Research Reports - Soochow: Huadian Power International Corporation plans to inject thermal power assets, maintaining a "buy" rating.

Soochow Securities research report pointed out that Huadian Power International Corporation (600027.SH) plans to inject thermal power assets, increasing assets, profits, and EPS. This asset injection is an important measure of support by Huadian Group for the listed company. The injected assets are concentrated in the southern, Jiangsu, and Shanghai regions. The integration of the group's assets is expected to further accelerate in the future. Pay attention to the La Nina climate + global AI computing power and the pull of electric vehicles on electricity demand in the second half of 2024. It is expected that the computing power will contribute 1-2% of the society's electricity consumption in 2024, and electric vehicles will contribute 1% of the society's electricity consumption. Profit forecast is not adjusted temporarily considering the asset restructuring has not yet been implemented.

Gelonghui FinanceJul 22 04:01 ET

China's Electricity Consumption Spikes 5.8% in June

MT NewswiresJul 22 01:47 ET

Stocks in Hong Kong fluctuate: Huadian Power International Corporation (1071) rose nearly 5% and planned to inject multiple assets into its controlling shareholder. Associated companies denied crossing into the new energy fund.

Huadian Power International Corporation (01071) rose nearly 5%, as of press time, it rose 4.96%, to HKD 4.02, with a turnover of HKD 68.0897 million.

Zhitong FinanceJul 21 23:23 ET

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.

Zhitong FinanceJul 21 21:13 ET

Huadian Power (01071) rose against the market by 3.66% in the Hong Kong stock connect, announcing asset restructuring matters.

Jinwu Financial News | Huadian Power International (01071) rebounded higher in early trading. As of press release, it reported HK$3.97, up 3.66%, with a turnover of HK$93.5248 million. According to the news, the company recently received the controlling shareholder Huadian Group's intention to plan asset restructuring matters relating to the company. The company plans to purchase 80% of Huadian Jiangsu Energy Co., Ltd. shares held by Huadian Group through the issuance of common shares (A shares) and cash payment. Fujian Huadian Furui Energy Development Co., Ltd. holds 51% of Shanghai Huadian Fu New Energy Co., Ltd., 100% of Shanghai Huadian Minhang Energy Co., Ltd., Guangzhou

金吾財訊Jul 18 22:52 ET