Citigroup: Lowered target price of China Resources Power (00836.HK) to 22.5 Hong Kong dollars, expected a 1% year-on-year decline in thermal power production this year.

Citi released a research report stating that it has lowered its forecast for Huadian Power (00836.HK) from a previously predicted 4% year-on-year increase in thermal power production to a 1% decrease. It has also lowered its net profit forecast for the years 2025 to 2027 by 6%, reduced the target price by 2.2% from 23 HKD to 22.5 HKD, and maintained a "buy" rating, citing a current dividend yield of 6.3% as an attractive level.