Glonghui, April 2 | Citi published a research report saying that Longyuan Electric Power's performance last year was slightly lower than expected due to non-cash impairment losses, and the dividend increase of 90% year on year was surprising. Furthermore, the Group's renewable energy installation production capacity will rise to 30 GW this year, with a compound annual growth rate of 18.6%. However, the average cost of debt last year was lower, which also funded its capital expenses. The bank said that due to falling tax laws and more impairment losses, the Group's net profit forecast for this year and next two years was lowered by 9 to 11%, and the target price was slightly reduced from HK$6.2 to HK$6.1, reaffirming the “buy” rating.