BofA Securities: China Shenhua (01088.HK) Q3 results below expectations, strong coal and weak power, maintain "Buy" rating with target price of HK$48

Zhitong Finance APP has learned that BofA Securities issued a research report stating it maintains a "Buy" rating and a target price of HK$48 for China Shenhua (01088.HK). The bank noted that the company's third-quarter results were below expectations, showing stronger coal operations and weaker power operations. Under GAAP, the company's net profit attributable to owners of the parent for the first nine months was RMB44.4 billion, up 4% year-on-year on a restated basis; third-quarter net profit was RMB15.7 billion, up 3% year-on-year, below expectations, mainly because the benefit from stronger coal prices was partly offset by rising costs and weaker margins in the power business.