Zhongtong Finance News APP learned that Bank of America Securities released a research report stating that it reiterated its "neutral" rating on China Longyuan Power (00916), with a compound annual growth rate of 27% from 2024 to 2026, and the target price increased from HKD 6.1 to HKD 7.2. Due to the slow capacity growth, the bank lowered the company's profit forecast for 2024 to 2026 by 30% to 40%.

The report stated that China Longyuan Power's revenue in the first half of the year decreased by nearly 5% year-on-year due to a decline in wind power generation, resulting in a corresponding 6% year-on-year decline in revenue and a 20% year-on-year decline in net profit after perpetual bonds to CNY 4 billion. The bank believes that renewable energy prices and utilization rates will continue to face downward pressure, and the recent policies supporting the use of renewable energy are a good start, but the impact of more distributed solar energy entering the market for sale in the second half of the year still remains to be observed.