Citigroup: Dongfang Electric (01072) receives 5.3 billion yuan order from Tibet project, target price of 13.6 Hong Kong dollars

Zhixin Finance APP learned that Citigroup released a research report stating that the recent announcement of the Yarlung Zangbo River hydropower project in mainland China has a total investment of about 1.2 trillion RMB. Experts expect the project to take 15 to 20 years to complete, compared to 12 years for the Three Gorges Dam. It is estimated that the investment in the project's power equipment and grid equipment will account for 7 to 8% and 15% of the total investment respectively. The bank predicts that Dongfang Electric (01072) will receive new orders worth 53 billion RMB from the project, and this will increase the value of the company's H shares and A shares (600875.SH) by 4.8 HKD and 4.5 RMB per share respectively. The target price for Dongfang Electric's H shares is set at 13.6 HKD with a "Buy" rating, while the target price for A shares is 20 RMB.