Glonghui, April 28 | According to a J.P. Morgan Chase research report, Longyuan Electric Power recorded profit attributable to shareholders of 2.48 billion yuan in the first quarter of 2024, an increase of 3% year-on-year, slightly higher than the bank's expectations of 1% to 2%. Due to the 6% drop in wind power costs, this means that the year-on-year decline will be greater than the expected decrease in the number of units per year. It is believed that the stock price reaction to this will be mild to slightly negative. According to the bank, on the positive side, even though overall production capacity increased 14% year over year, operating expenses remained flat year over year. The company will hold a performance briefing at the end of April. Investors in this sector will pay attention to the following three aspects, including whether the electricity price trend in the first quarter will be maintained within the 2024 fiscal year, the company's participation in green power transactions, and comments on potential corporate actions. The bank's target price for the company is HK$6.8, giving it an “increase in weight” rating.