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Major rating upgrades bocom intl: Raised china longyuan target price to 8.6 Hong Kong dollars, third-quarter profit exceeds expectations.
Gelonghui November 6｜bocom intl released a report pointing out that china longyuan's profit for the third quarter exceeded expectations due to adjustments related to the sale of thermal power projects. Profit for the first three quarters fell by 21.5% year-on-year to 5.67 billion yuan, still higher than the bank's expected about 20%. The total electricity generation for the first three quarters increased by 2.4% year-on-year, with wind/solar power generation decreasing by 1.8% and increasing by 82.9% year-on-year respectively. In the last quarter, the company added 31 megawatts and 314 megawatts of wind/solar installed capacity on a quarterly basis. bocom intl pointed out that due to the sale and termination of thermal power projects, as well as the injection of assets from the parent company, the profit forecast for china longyuan for 2024 to 2026 has been raised by 12.7% and 3%.
Express News | Citi: Raises target price of China Longyuan to 8 Hong Kong dollars, reiterates 'buy' rating.
GIC Private Limited reduced its shareholding in China Longyuan (00916) by 0.319 million shares at a price of HKD 6.91 per share.
On October 31, GIC Private Limited reduced its shareholding in China Longyuan Power (00916) by 0.319 million shares, priced at 6.91 Hong Kong dollars per share, with a total amount of approximately 2.2043 million Hong Kong dollars.
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.
Chinese Solar Firms, Ever-nimble, Go Further Afield Where US Tariffs Don't Reach
china longyuan (001289): Operating pressure released on a month-on-month basis, rapid growth in quarterly performance.
The company released the third quarter report of 2024: in the third quarter of 2024, the company achieved revenue of 7.467 billion yuan, a 9.87% year-on-year decrease; achieved a net income attributable to the parent company of 1.648 billion yuan, a 41.58% year-on-year increase.
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