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[Brokerage Focus] BOCOM INTL maintains a Buy rating on CHINA POWER (02380), stating that its net profit last year was below expectations.
Jinwu Financial News | BOCOM INTL Research Reports indicate that CHINA POWER (02380) will have a net profit in 2024 that is below the bank's expectations. The main reasons are that operating expenses and minority Shareholder equity are higher than anticipated, and the wind/solar installation progress in the second half of 2024 is slightly lower than expected. The company's dividend payout ratio remains at 60%, consistent with management's guidance last year. Looking forward to the 14th Five-Year Plan, management stated that the overall installation capacity target is to exceed 100 gigawatts. Among them, the hydropower installation target is increased by 20 gigawatts, while the rest of the new installations will consist of offshore wind/onshore wind + photovoltaic/thermal power increases of 10/30/10 gigawatts. Currently, the bank expects the company to be in 202.
CHINA POWER (02380): The new Global Strategy has been implemented successfully, with operational profit reaching a historical high.
On March 20, CHINA POWER released its performance announcement for 2024 and held a performance press conference on March 21. The company achieved annual revenue of 54.213 billion yuan, a year-on-year increase of 22.48%. Among this, clean energy revenue was 32.2 billion yuan, accounting for 60% of total revenue, an increase of 9 percentage points compared to the previous year. The profit attributable to equity holders reached 3.862 billion yuan, and operating net income set a historical high since its listing. The consolidated installed capacity reached 49.391 million kilowatts, with clean energy accounting for 80.12%.
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CHINA POWER (02380) will distribute a final dividend of 0.162 yuan per share on June 30.
CHINA POWER (02380) announced that it will distribute dividends on June 30, 2025, for the period ending December 3, 2024...
CHINA POWER (02380) announced its 2024 performance, with a profit attributable to ordinary Shareholders of 3.364 billion yuan, an increase of 26.47% year-on-year.
CHINA POWER (02380) announced its 2024 performance, achieving revenue of approximately 54.213 billion yuan, a year-on-year increase of 22...
