Morgan Stanley: Maintains China Coal Energy (01898) "in line with the market" rating. The target price has been increased to HK$9.12.

10:59 07/02/2025

DAIWA RAISES CHINA COAL ENERGY'S NET PROFIT FORECAST FOR 2024-2026 BY 9-11%.

Morgan Stanley's research report stated that the target price of China Coal Energy (01898) was raised by 7.3%, from HK$8.5 to HK$9.12, maintaining a "market-perform" rating. Morgan Stanley also raised its net profit forecast for 2024-2026 by 9-11%, mainly due to increased operating profit from the coal chemical business. The forecast for this sector for 2024-2026 was raised from 3 billion RMB to 3.8 billion RMB. The company's basic assumption is that in the context of relaxed coal supply and demand balance, the domestic contract sales prices of thermal coal are expected to adjust by 3% year-on-year in 2025, while spot coal prices are expected to decrease by 12% year-on-year.

HUANENG POWER (00902) completed the issuance of 3 billion yuan worth of commercial paper.

BEAUTYFARM MED (02373) spent about HK$1.5858 million to repurchase 50,000 shares on October 24th.

Guangzhou Automobile Group (02238) announced its performance for the first three quarters, with a net loss attributable to shareholders of approximately 4.312 billion yuan, a turnaround from profit to loss compared to the same period last year.

HUANENG POWER (00902) completed the issuance of 3 billion yuan worth of commercial paper.

BEAUTYFARM MED (02373) spent about HK$1.5858 million to repurchase 50,000 shares on October 24th.