According to the BoCom International Development and Research report, China Electric Power expects that the weight of thermal power in its total installed capacity in the future will not exceed the current level, and will maintain the new thermal power plant at the joint venture / joint venture level.

As expected, hydroelectric power in china fell 20 per cent year-on-year between July and august because of drought and extreme temperatures. However, the company expects single-digit declines in hydroelectric power generation in fiscal 22.

The company's fuel costs for thermal power generation began to fall in the third quarter, and according to BoCom's calculations, the performance rate of long-term thermal coal contracts increased by about 10 percentage points in the third quarter (compared with the first half of 21 years). In addition, China Electric Power is expected to acquire about 2 gigawatts of renewable energy projects from similar companies, which will be completed by October this year.

BoCom maintains its buy rating and its target price of HK $5.36.