According to the Smart Finance app, Citigroup released a research report stating that it lowered the profit forecast for China Suntien Green Energy (00956) from 2024 to 2026 by 5% to 6% and maintained a “buy” rating for China Suntien Green Energy, with a target price lowered from HKD 4.8 to HKD 4.5.

The report stated that after conducting a 30-day downward catalytic observation of the company, it is expected that its profit for the first half of the 2024 fiscal year will fall short of expectations. It is estimated that the net profit will increase by 1.3% to RMB 1.458 billion year-on-year, which is far lower than the market's forecast of a 16% year-on-year increase in full-year profit. This is mainly due to the decrease in wind farm utilization and a 3.7% decrease in net power generation in the first half of the year to 7.36 million MWh, which largely offset the incremental profit brought about by the high growth of natural gas sales volume during the period.