The Zhitong Finance App learned that Haitong International released a research report stating that it initially gave CGN Power (01816) a “superior to the market” rating, with a target price of HK$3.27 to reflect a steady rise in dividends and a steady decline in debt ratios. The company's total electricity sales revenue last year was RMB 62,517 billion (same below), accounting for 75.7% of annual revenue. There is significant growth momentum on the electricity revenue side. The gross profit from electricity sales last year was 28.665 billion yuan, and the gross margin was 45.85%. The cost of nuclear fuel, the main source of electricity revenue, remained low, with a year-on-year increase of 0.67%. The bank expects the main operating income for the 2024-26 fiscal year to be 87.124 billion/ 91.953 billion/ 97.049 billion yuan, corresponding net profit of 16.227 billion/ 17.784 billion/ 19.342 billion yuan, and corresponding profit per share of 0.17/0.20/0.23 billion yuan.