Gelonghui, March 26 | Huatai Securities published a research report showing that China Resources Electric's revenue last year increased 0.03% year-on-year to HK$103.3 billion; net profit increased 56.2% year-on-year to HK$11 billion; and the dividend ratio was 62%. The bank expects the net profit of the company to be 15.2 billion, 17.1 billion and HK$20.2 billion respectively from 2024 to 26. It also believes that the Group's profitability is excellent. The target price was raised from HK$23.89 to HK$25.33, maintaining a “buy” rating. The bank estimates that the Group's core net profit for coal-fired power generation in 2023 was HK2.4 cents, and the thermal power sector lost HK$760 million in assets. With the implementation of the two-tier electricity price system and the further advancement of the auxiliary service market, the profit stability of the company's thermal power generation sector is expected to improve in the future. The company expects to put into operation a thermal power generation equity unit with a capacity of 927.2 MW this year, and also expects to add 10 GW of new energy installed this year.