Lates News

OCBC Bank released a research report stating that, in the first half of the year, China Resources Power's electricity generation increased by 3.6%, lower than expected. The bank revised down its annual electricity generation growth forecast by 8.4 percentage points, expecting a 4% to 9% annual increase in electricity generation in 2025 and 2026. Benefiting from expected cost savings on fuel, the bank expects a 6% increase in profits in the first half of 2025. Based on yield and valuation attractiveness, the bank maintains a "buy" rating on China Resources Power, with a target price reduced from HK$24 to HK$22.6, and a 4% downward revision in profit forecasts for 2025 and 2026, with expected profit growth of 7% and 13% respectively.