Huadian International (01071) fell by more than 5%, down 5.19% at press time to report HK$4.2, with a turnover of HK$86.43 million.
The Zhitong Finance App learned that Huadian International (01071) fell by more than 5%, down 5.19% at press time, to HK$4.2, with a turnover of HK$86.43 million.
According to the news, the company issued an announcement yesterday. As of March 31, 2024, the group has completed a cumulative total of 56.16 million megawatt-hours of power generation in the first quarter of 2024, which is a decrease of about 0.19% over the same period last year; it completed 52.48 million megawatt-hours of feed-in electricity, a decrease of about 0.30% over the same period last year. In the first quarter of 2024, the Group's average feed-in tariff was approximately RMB 509.31 per MWH.
Great Wall Securities said that upstream coal prices have been low in recent years and have maintained a downward trend, reducing power generation costs for thermal power companies; downstream electricity price transmission is lagging behind, electricity price levels are still expected to rise, and the certainty of first-quarter results and profits has increased. Haitong International, on the other hand, pointed out that thermal power is low in profit and undervalued. The bank expects a dividend rate of at least 6% in 2024, and Hong Kong stocks may exceed 10%. Overseas power leading PE is generally around 20 times higher, and domestic thermal power investment opportunities are obvious.