Liang: Raised the target price of China Yangtze Power to HKD 67, maintaining the "Outperform" rating.

According to a research report from Lyon, China Changjiang Infrastructure benefited from the ample funds accumulated from asset sales, stable dividends, and the favorable impact of regulatory resets, making it a relatively safe haven in the market. The firm raised the company's target price from HKD 63 to HKD 67, maintaining a "Outperform" rating. It mentioned that Changjiang Infrastructure's net profit for the first half of the year was HKD 21.3 billion, an increase of 389% year-on-year. Even after excluding one-off items, the core net profit for the first half remained robust. The interim dividend rose by 2.7% year-on-year to HKD 0.75 per share, continuing the annual dividend increase record since its listing in 1996. The firm raised its profit forecast for Changjiang Infrastructure by 155% for this year to reflect the gains from asset sales in the first half, but lowered next year's forecast by 15% due to a reduced contribution from the related asset sales.