JP Morgan: Upgrades CHINA RES POWER(00836) rating to "overweight" believes it has good value.

15:43 19/11/2024

Morgan Stanley believes that market concerns about electricity bill reductions may be exaggerated, and even if electricity rates were significantly reduced in the next two years, with a current return on equity of about 7%, it is still a buying opportunity.

JPMorgan Chase released a research report stating that they believe due to the strong growth in China's electricity consumption, electricity prices will only decrease at a moderate pace. They believe that CHINA RES POWER (00836) has good value and have upgraded their stock to a "hold" rating. The report mentioned that the company has underperformed the index by over 35% since early July, possibly due to concerns about next year's electricity price cuts and capital worries, as well as underperformance compared to industry expectations. JPMorgan Chase believes that market concerns about electricity price cuts may be exaggerated, and even if electricity prices are significantly reduced in the next two years, the current dividend yield of approximately 7% for CHINA RES POWER still presents a buying opportunity.

CT IND GROUP (08111) requests the GEM Listing Review Committee of the Hong Kong Stock Exchange to review the suspension decision.

On January 7th, ES Services bought back 200,000 shares for HK$356,400.

SHANXI INSTALL (02520) recommends that the company issue domestic bonds and obtain approval from the China Securities Regulatory Commission.

CT IND GROUP (08111) requests the GEM Listing Review Committee of the Hong Kong Stock Exchange to review the suspension decision.

On January 7th, ES Services bought back 200,000 shares for HK$356,400.

SHANXI INSTALL (02520) recommends that the company issue domestic bonds and obtain approval from the China Securities Regulatory Commission.