The Zhitong Finance App learned that Guojin Securities released a research report saying that maintaining the “buy” rating of Longyuan Electric Power (00916), considering that the company relies on Guoneng Group's integrated advantages, and that it has a first-mover advantage and scale effect as an established wind power operator, it can enjoy endogenous+epitaxial co-driven growth. The bank expects the company to achieve net profit of 74.3/84.8/8.92 billion yuan from 2024 to 2026, respectively, and EPS of 0.89/1.01/1.07 yuan, respectively.

According to the report, Longyuan Electric Power's 2H23 new energy development index has been accelerated, and photovoltaics has become the main battleground for the company's future growth. In 2023, the Group added 54 GW of new resource reserves, including 24.65 GW of wind power and 23.95G of photovoltaics; obtained 19.8 GW of new energy development indicators for the whole year (wind power and photovoltaics account for 22.3% and 64.9% respectively). With 1H23 achieving 5.6 GW less energy development indicators compared to the same period last year, 2H23 clearly gained strength, and finally achieved a 1.5 GW year-on-year increase in the scale of the new energy development index obtained throughout the year, laying a solid foundation for the company's future growth. According to the company's public answers to investors' questions, in 2024, the company plans to start 10 GW of new energy projects throughout the year and strive to put into production 7.5 GW.