On June 21st, Citigroup released a report stating that due to higher utilization of coal-fired power plants, the profit forecast for Rundian from 2024 to 2026 has been raised by 2.9% to 3.7%, and the target price has been raised by 3.9% to HK$26.5. The report stated that Rundian expects power industry reform to bring more renewable energy generation and face the challenge of lower electricity prices in the competition. The bank reiterated its "buy" rating on the stock because the annual coal prices are expected to decline due to the signing of annual contracts, and the renewable energy electricity prices based on the market are expected to rise annually in the fourth quarter, so the risk of lower electricity prices seems manageable. The bank expects Rundian's net income to increase by 30% year-on-year to 8.755 billion yuan in the first half of the year, which is higher than the market forecast of a 20% year-on-year increase in net income for the entire year. Assuming better-than-expected performance in the first half of the year, the bank will begin a positive catalyst observation of 90 days for Rundian.