CICC raises China General Nuclear Power Corporation (01816.HK) target price to HKD 4.19. First quarter performance in line with expectations.

According to the Securities Times APP, Zhongjin Securities released a research report stating that China General Nuclear Power Corporation (01816.HK) first quarter performance met the bank's expectations, with revenue of 16.3 billion yuan. This represents a 13.3% decrease compared to the same period last year, and a net profit of 2.74 billion yuan, down 9.3% year-on-year, also meeting the bank's expectations. The bank maintains its unchanged profit forecast for China General Nuclear Power Corporation for the next two years. It also maintains a "outperform industry" rating, considering the certainty of nuclear power profitability due to the increase in mechanism electricity price policy. The bank has raised the target price of China General Nuclear Power Corporation's A shares (003816.SZ) and Hong Kong shares by 5% each, to 5.32 yuan and 4.19 Hong Kong dollars respectively.