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Finance Associated Press Venture Capital: In January, financing in the Carbon Neutrality sector totaled 1.61 billion yuan, a decrease of 95.03% month-on-month. Li Chuang Autos Electronics completed its first round of financing of nearly 0.5 billion yuan.
According to data from the China Finance Association's Venture Capital platform, in January, there were a total of 69 private equity investment events in the domestic Carbon Neutrality sector, a decrease of 28.13% from 96 events last month; The total disclosed financing amounted to approximately 1.61 billion yuan, down 95.03% from 32.404 billion yuan last month.
UBS Group: Downgrades the Target Price for mainland Electric Power stocks, CGN POWER has been cut to "Sell".
UBS Group published a research report stating that the outlook for mainland Electric Power stocks has turned neutral, as the anticipated fundamentals are expected to weaken considering the following factors: the expected reduction in electricity prices this year is greater than anticipated; and the growth prospects for electricity demand are slowing. The bank has lowered the Target Price for independent power producers by an average of 31%. It has downgraded CGN POWER (01816) from "Buy" to "Sell" and reduced the rating for CHINA RES POWER (00836) from "Buy" to "Neutral." Additionally, it has cut earnings forecasts for 2025 to 2027 by 20% to 24%, which is 12% to 16% lower than market expectations. The report states that, although mainland Electric Power ...
[Brokerage Focus] BOCOM INTL: Deepening reform in the New energy Fund volume and price marketization to moderately alleviate market concerns about falling electricity prices.
Jinwu Finance | BOCOM INTL stated that the National Development and Reform Commission and the National Energy Administration jointly issued a notice on the reform of electricity generation and pricing for the New Energy Fund. The main content includes the full marketization of on-grid electricity prices, the establishment of a new price settlement mechanism, and the classification of stock and incremental projects with June 1, 2025 as a milestone for differentiated management. In addition, the bank understands that the new policy may also offer more flexible policies for wind power and CECEP Solar Energy projects regarding storage capacity. Regarding the differentiated management of stock/incremental projects, the bank believes it can sustain the returns of existing projects. As for the new electricity generation and pricing for incremental projects, new assurances have been made.
Two departments: The electrical quantity of new energy projects going online will in principle enter the electrical utilities market entirely, with the online electricity price formed through market trading.
The National Development and Reform Commission and the National Energy Administration issued a notice on "Deepening the Market-oriented Reform of New Energy Grid Connection Prices to Promote High-quality Development of New Energy."
J.P. Morgan: Lowers the Target Price for Chinese Electric Power stocks due to lower-than-expected usage hours in the second half of last year.
J.P. Morgan advises investors to reassess the development prospects of related companies after the earnings announcement, as this will provide a better understanding of management's outlook on electricity prices for the coming year and overall capital expenditure plans.
Can China Resources Power Holdings Company Limited's (HKG:836) ROE Continue To Surpass The Industry Average?
