According to the report released by Bocom Intl on November 6th, China Longyuan's profit in the third quarter exceeded expectations due to adjustments related to the sale of thermal power projects. The profit for the first three quarters decreased by 21.5% year-on-year to 5.67 billion yuan, still higher than the bank's expectations by about 20%. The total electricity generation in the first three quarters increased by 2.4% year-on-year, with wind/solar power generation decreasing by 1.8% and increasing by 82.9% respectively. In the last quarter, the company added net installations of 31 and 314 megawatts of wind/solar power per quarter. Bocom Intl stated that due to the sale and consolidation of thermal power projects, along with the injection of assets from the parent company, China Longyuan's profit forecast for 2024 to 2026 has been raised by 12.7%, 3%, and 2% respectively, with the company expected to largely maintain a year-on-year profit in 2024. Excluding the factors of selling profits from thermal power plants, the core profit growth in 2025/2026 is expected to be 9% and 31% respectively. The bank has raised the target price to 8.6 Hong Kong dollars and maintains a "buy" rating.