No Data
Soochow: Optimize the Electrical Utilities system adjustment capacity and accelerate the construction of a new type of Electrical Utilities system.
As the development of green electricity continues to advance in quality, construction investment is stabilizing. With the enhancement of reasonable consumption and utilization capacity, the absorption of New energy Fund is expected to be optimized between 2025 and 2027.
Citi: Maintains a "Buy" rating on CHINA LONGYUAN (00916), with the Target Price revised down to 7.2 Hong Kong dollars.
Under the banner of Huayi, the forecast for CHINA LONGYUAN's net profit for this year and next year is reduced by 4.1% and 9.2%.
Citi lowered the Target Price for CHINA LONGYUAN (00916.HK) to 7.2 yuan and adjusted the earnings forecast reflecting reduced electricity costs and fewer new capacities.
Citi released a report, based on the latest information from CHINA LONGYUAN (00916.HK), stating that due to competition leading to a decrease in electricity prices and delays in the completion of new capacity, they have lowered their net profit forecast for this year and next by 4.1% and 9.2%, respectively. The bank has adjusted the Target Price for CHINA LONGYUAN downwards by 10% to 7.2 yuan. A 'Buy' rating is given based on its forecasted PE of 7.1 times and a forecasted PB of 0.6 times, indicating cheap valuation. Citi predicts that CHINA LONGYUAN's net profit will grow by 2.9% year-on-year to 6.381 billion yuan, and the impairment losses in the fourth quarter have decreased year-on-year, showing improvement compared to the first three quarters; however, the bank's net profit forecast for the company last year is lower than the market expectations.
China Longyuan Power Sells 1 Billion Yuan of 179-Day Bonds
CHINA LONGYUAN (00916.HK) has completed the issuance of 1 billion yuan of ultra-short-term financing bonds.
Gelonghui reported on December 30 that CHINA LONGYUAN (00916.HK) announced that the company completed the issuance of ultra-short-term financing bonds on December 27, 2024. The total amount of this ultra-short-term financing bond issuance is 1 billion yuan, with a term of 179 days, a par value of 100 yuan, and a coupon rate of 1.68%. Interest will begin to accrue from December 30, 2024.
The Daihang report from Daiwa: Electricity prices in Jiangsu Province will fully decrease by 2025, maintaining a "neutral" outlook for the CHINA POWER Industry.
Daiwa published a Research Report stating that the latest data from the Jiangsu Provincial Power Trading Center shows a reduction of 40 Chinese yuan per megawatt-hour in the overall electricity price for the year 2025, representing a decline of 8.9%. This aligns with market expectations and Daiwa's predictions, and it is believed that the comprehensive decline in electricity prices will have a controllable impact on coal and hydropower generation companies. Daiwa forecasts that the electricity price reduction in Jiangsu next year will lead to a narrowing of the Dark Spread for coal companies by 9 to 15 Chinese yuan per megawatt-hour, which has been partially offset by lower coal prices, while the expected impact on hydropower is projected to be about 1% to 4% on profits. The firm maintains a neutral outlook on the CHINA POWER Industry.