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CHINA POWER: Interim Report 2024
[Brokerage Focus] China International Capital Corporation points out that there are frequent demand-side policies in the new energy industry and suggests focusing on the undervalued green electricity track.
Jingu Finance | China International Capital Corporation issued research reports indicating that the overall performance of new energy companies in 1H24 was lower than the bank's and market expectations. The profit-making ability of new energy assets in 1H24 continued to decline, reflecting the pressure of utilization hours and comprehensive electricity prices, and the rigidity of costs magnifying the decline in profits. However, with frequent demand-side and environmental value policies in the industry, the bank still recommends focusing on the undervalued green energy track, and recommends China Power (02380) and Huaneng Power International, Inc. (00902). The bank stated that the volume and price of new energy operators are temporarily under pressure, and it is expected to rebalance consumption in the medium to long term. New energy prices may continue to be under pressure, but the impact is diminishing. By 2024
Zhongjin: the continued release of grid consumption electricity price risk, regional differentiation intensifies.
The overall performance of the new energy power companies in 1H24 is lower than market expectations. The profitability of the new energy assets in 1H24 continues to decline, reflecting the downward pressure on utilization hours and comprehensive electricity prices, and the cost rigidly amplifies the decline in profits.
Hong Kong Stock Exchange Announcement | Sichuan Chengyu Expressway: Tianfu New District to Qionglai Expressway completed and opened.
China Power (02380) has signed an engineering general contracting agreement related to offshore wind power generation projects with its affiliate in Shandong; CDB Leasing (01606) plans to purchase 80 A320 NEO series aircraft.
China Power Inks Major Wind Project Deal
China Power (02380.HK) has signed an engineering general contracting agreement with Shandong Institute.
On September 12, China Power (02380.HK) announced that on September 12, 2024, Haiwei Wind Power (a wholly-owned subsidiary of the company) entered into an engineering general contracting agreement with Shandong Institute. According to this agreement, Shandong Institute will provide survey and design, auxiliary equipment procurement, construction and installation, and other technical support services for the project at a cost of 1.143 billion yuan. On August 2, 2024, Haiwei Wind Power and Shandong Institute entered into a preliminary development and technical consultation agreement, which included the preparation of a project feasibility and engineering survey report, coordination with government departments, and submission of necessary documents to obtain approval.
China Power International Development (HKG:2380) Will Want To Turn Around Its Return Trends
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