HK Stock Market Move | CGN NEW ENERGY(01811) rose nearly 6% to achieve a more than one-year high. The company's wind power electricity prices have remained stable in the first half of the year.

CGN NEW ENERGY (01811) rose nearly 6%, reaching a high of 2.92 Hong Kong dollars, hitting a new high since June last year. As of the time of writing, it has risen by 5.93% to 2.86 Hong Kong dollars, with a turnover of 1.22 billion Hong Kong dollars. On the news front, Huayuan Securities previously pointed out that the wind power electricity price of the company in the first half of the year was 0.55 yuan/kWh, a year-on-year decrease of 0.02 yuan/kWh, and the wind power electricity price has basically stabilized. The bank believes that as a "small and beautiful" new energy operator, the company has continued to reduce its investment in recent years in the context of increasing pressure on new energy operations. In the first half of this year, against the background of the continuous increase in photovoltaic installations in the entire market, the company added only 110,000 kW of new energy installations (all photovoltaic), with a current capital expenditure of only 4 billion USD (28.5 billion RMB), maintaining at a low level. The main capital expenditure is invested in the Korean gas project. The bank believes that this move reflects the company's tendency to reduce blind capital expenditure, pursue high-quality development, and protect shareholder rights. In addition, Tianfeng previously pointed out that in January 2025, DeepSeek released a report, driving a significant increase in the on-shelf rate of Chinese third-party data centers. The China Information and Communications Research Institute predicts that China's data center electricity demand will reach 300-700 billion kWh by 2030, accounting for 2.3%-5.3% of the total social electricity consumption, corresponding to a compound growth rate of 10.4%-27.1% from 2024 to 2030. In the era of data economy, computing power has become a new productive force, thereby driving high electricity demand. Considering the green transformation of computing power, it is recommended to focus on new energy operators, including CGN NEW ENERGY.