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Galaxy Securities: The 25-year Energy work guidance opinion has been released, adhering to the two main lines of ensuring supply and green development.
The overall goal is to steadfastly adhere to the twin priorities of Energy security and green transition.
The demand for AI applications and overseas has increased, and the orders for grid supporting companies in the first quarter are already "fully booked."
① Power grid supporting companies have sufficient Orders on hand, and some listed companies have successively reported positive earnings forecasts for last year; ② The total scale of domestic power grid investment has increased, and the application of AI along with overseas markets is expected to resonate, likely driving Orders to continue rising this year.
[Brokerage Focus] Guoyuan International: If coal prices continue to decline, it will increase the profitability of thermal power.
Jingwu Financial News | Guoyuan International reported that after the Spring Festival, coal mines in production areas quickly resumed operations, with stable capacity release in major producing regions, and combined with record high imported coal, the overall market supply is sufficient. On the demand side: thermal coal consumption has been lower than normal due to the warm winter, with power plant inventory generally exceeding 20 days. Inventory: both port and social stocks continue to accumulate, which has exerted significant downward pressure on coal prices in the short term. The bank pointed out that after the Spring Festival, coal prices have gradually increased their decline; for example, the Q5500 clearing price at Northern ports on February 21, 2025, was 728 yuan/ton, compared to 938 yuan/ton on February 21, 2024.
Earnings Tell The Story For Huaneng Power International, Inc. (HKG:902)
Huaneng Power International Raises 2 Billion Yuan Via Bond Issue
Hong Kong stock Concept tracking | Coal prices drop to nearly four-year lows, enhancing the profitability of downstream thermal power plants (with related stocks).
Coal prices have dropped to their lowest levels in nearly four years, possibly influenced by the continued relaxation of supply and demand.
