Longyuan Electric Power (00916) continued to rise by more than 4%. As of press release, it rose 4.76% to HK$5.72, with a turnover of HK$161 million.
The Zhitong Finance App learned that Longyuan Electric Power (00916) continued to rise by more than 4% and rose 4.76% at press time to HK$5.72, with a turnover of HK$161 million.
According to the news, Longyuan Electric Power announced that in January 2024, the company and its subsidiaries completed 6.9909 million megawatt-hours of power generation according to the consolidated statement, an increase of 2.10% over the same period in 2023. Among them, wind power decreased by 8.36%, thermal power increased by 40.42%, and other renewable energy sources increased by 275.75%.
Galaxy Securities released a research report saying that the overall performance of the power sector is highly deterministic and has strong dividend capacity. It will continue to benefit from central state-owned enterprise reforms in the future, and will continue to be optimistic about the long-term investment value of the power sector. Short-term recommendations include a thermal power sector with policy catalyst, continuous improvement in performance, and room for improvement in valuation; focus on nuclear power and hydropower with long-term, low-risk capital; and strategically lay out the new energy sector when low.