According to the WiseNews app, electric power stocks collectively fell. At the time of publication, Huadian Power International Corporation (01071) fell 4.55% to HKD 5.03, China Longyuan (00916) fell 3.48% to HKD 7.48, Huaneng Power International, Inc. (00902) fell 3.21% to HKD 5.42, and China Res Power (00836) fell 1.91% to HKD 23.1.

Guolian Securities released the June monthly report on power grid wholesale electricity purchase in each province. Judging from the agent purchase price, compared with May 2024, prices rose in 13 provinces, remained unchanged in 3 provinces, and declined in 16 provinces. Judging from the month-on-month change, the rise and fall of most provinces' agent purchase prices was within 10%, and the provinces whose rise and fall exceeded 10% were Shandong (+16.96%), Gansu (-10.72%), Guangxi (-17.33%), Yunnan (-21.54%), and Sichuan (-29.75%).

China Securities Co., Ltd. previously stated that Jiangsu's electricity price in June decreased month-on-month. The decrease in monthly long-term electricity price is mainly affected by the supply and demand situation of electricity and the decline in coal prices. Considering the unchanged locking effect of the annual long-term electricity price, we believe that there is no need to overly worry about the profitability of coal-fired power under this background of slight decline in monthly electricity price.