Zitong Financial APP learned that Guoyuan International released a research report saying that it maintained the "buy" rating of Xiehe New Energy (00182), looking forward to an improvement in the cash flow and valuation of the green power industry after the first batch of green power subsidies. At present, the company has an obvious valuation advantage, with a target price of HK $0.95, which is 44% higher than the current price. The company's total equity electricity generation in October this year 655.88GWh (year-on-year + 20.66%); January-October equity generation total 5369.21GWh (year-on-year + 27.12%). At the same time, it continues to buy back from time to time, highlighting the value of medium-and long-term investment.

According to the report, the company obtained wind power index 800MW in the first half of 2022 and new 600MW project targets in the second half of the year, including Heilongjiang hybrid project 400MW, Guizhou 100MW and Henan 100MW. At present, its medium-term project reserve has reached 2.45GW, and it is certain to achieve the 5GW target in 2023. In addition, a new 1GW has been installed this year, and affected by the epidemic, it is expected to be put into production by the end of December 2022 or early 2023. According to the current acquisition of project reserves and the newly signed Scenic Agreement capacity, on the basis of the stock power plant reaching the scale of 5GW, the company is expected to issue a new installation plan after 2023 to support sustained growth in performance.