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China Galaxy Securities: Internal differentiation of 24Q3 fire, water, and nuclear, marginal improvement in green power.
In the third quarter of 2024, the year-on-year growth rate of thermal power performance turned negative, while the year-on-year growth rate of hydropower remains at a high level. Nuclear power continues to maintain a relatively stable performance, and green power shows marginal improvement.
CICC: Profit improvement in clean energy in Q3 24, with bright spots in thermal power operation.
Under the influence of weak wind conditions and the pressure on electricity prices, the revenue of the new energy generation sector only increased by 0.76% year-on-year; while the net income attributable to equity holders decreased by 5.79% year-on-year.
China Yangtze Power (600900): Increased water inflow boosts operating profit, with quarterly gross margin exceeding 70%.
In the first three quarters of 2024, the company achieved revenue of 66.331 billion yuan, a year-on-year increase of 14.65%; achieved a net income attributable to the parent company of 28.025 billion yuan, a year-on-year increase of 30.2%; weighted average ROE is 1.
Research reports | China Securities Co.,Ltd.: China Yangtze Power's operational performance is expected to maintain a stable and robust growth trend, maintaining a "buy" rating.
On October 31, CSC's research reports pointed out that china yangtze power (600900.SH) had a net income attributable to the mother of 28.025 billion yuan in the first three quarters, a year-on-year increase of 30.20%. The main reason for the year-on-year growth in the company's operational performance in the first three quarters is the abundant water inflow. The impact of the year-on-year increase in hydropower generation. The company's pumped storage business continues to advance, having fully taken over the operation and maintenance of Zhejiang Changlongshan pumped storage power station, in addition Zhejiang Tiantai pumped storage power station has completed power production preparations, Chongqing Fengjie Caijiba pumped storage power station has completed investment decisions, hunan Youxian Guanghanping pumped storage power station has completed equity reform and investment decisions. Along with the c
China Yangtze Power (600900): The operation performance is steadily growing, and financial expenses continue to decline.
In the first three quarters of 2024, the company achieved revenue of 66.331 billion yuan, a year-on-year increase of 14.65%; net income attributable to mother was 28.025 billion yuan, a year-on-year increase of 30.20%. The company's operational performance increased year-on-year.
China Yangtze Power Q3 Profit Up 32%, Revenue Rises 17%
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