Dongfang Electric (01072) rose more than 4% and rose 4.66% at press time to report HK$10.34, with a turnover of HK$32.19 million.
The Zhitong Finance App learned that Dongfang Electric (01072) rose by more than 4% and rose 4.66% at press time to HK$10.34, with a turnover of HK$32.19 million.
In terms of performance, according to the company's results for the year ended December 31, 2023, the group obtained total operating revenue of RMB 60.677 billion (same unit), an increase of 9.6% over the previous year; net profit attributable to shareholders of the parent company of 3.55 billion yuan, an increase of 24.23% over the previous year; basic earnings per share of 1.14 yuan, and a cash dividend of 4.75 yuan for every 10 shares. According to the announcement, the company's revenue from the clean and efficient energy equipment business this year increased by 5.905 billion yuan over the same period last year, up 40.21% year on year, mainly in the coal power, gas engine, and nuclear power business.
According to a research report released by Dongwu Securities, the overseas power equipment boom continues to rise, with demand for capacity expansion on the power generation side, demand for upgrading and replacement on the power grid side, and new demand on the electricity consumption side resonating. Demand on the power generation side and power grid side is already supported by renewable energy plans and power grid capital expenditure plans in various countries, and will continue until 2030 or even 2035. Data centers on the power consumption side will continue to perform well with AI development and CAPEX performance, so the sustainability of global power equipment demand is expected to exceed market expectations. Orders have spilled out due to the tight supply and demand environment. Overseas orders from Chinese companies have increased rapidly, profit margins in the “seller's market” are higher than at home, and the bank's expectations are high for sustainability.