First Shanghai: Maintaining a "buy" rating for China Shenhua (01088.HK), target price of 47.7 Hong Kong dollars.

Zhixin Finance APP learned that First Shanghai released a research report stating that it maintains a "buy" rating on China Shenhua (01088.HK), with an estimated net profit attributable to the parent company of 588/587/589 billion yuan for 2025-2027, and a target price of 47.7 Hong Kong dollars. The company's performance in the third quarter significantly exceeded the industry average, highlighting its leading position and competitive advantage. Once the injection of group assets is completed, it will greatly increase the company's business scale, further strengthen its "coal-electricity integration" model, enhance overall synergy effects and risk resistance, and open up new channels for the long-term valuation center. The company has always been regarded by the market as a "cash cow," and its continuous and generous dividend policy is favored by value investors. Under the high dividend strategy, investors can still receive stable cash returns even during periods of stock price volatility, providing a solid safety margin and defensive value for its stock price.