On November 6th, Huatai Securities published a research report stating that considering the downward trend in coal prices since this year, they have adjusted their expectations for Huadian International Power's coal price and coal-fired electricity price, revising the company's net profit forecast from 11.7 billion yuan, 12.3 billion yuan, and 13.1 billion yuan for this year to 10.4 billion yuan, 12.7 billion yuan, and 13.1 billion yuan until 2026. They are bullish on the long-term development of the company's new energy business and the sustained recovery of thermal power performance, with the listed in Hong Kong target price lowered from 5.67 Hong Kong dollars to 5.49 Hong Kong dollars, maintaining a 'buy' rating. The bank points out that Huadian's third-quarter net profit was lower than expected mainly due to an early provision of asset impairment losses of 1.193 billion yuan. They believe that the company's operation is improving, with coal-fired electricity profits increasing by 0.4% annually after the reversal of asset impairment to 3.1%, and wind power electricity profits increasing by 4.2% annually to 0.147 yuan, showing optimism for the improvement in thermal power profitability and wind power development.