GLONGHUI, May 11 | According to the CITIC Construction Investment Securities Research Report, Dongfang Electric (600875.SH)'s net profit after deduction for the first quarter increased 10.61% year-on-year, and profit growth was faster than revenue growth. Net profit attributable to mother was 906 million yuan, down 11.12% from the previous year. The company's non-recurring profit and loss was 150 million yuan. Among them, Chuaneng Power's stock rights were affected by falling stock prices, causing fair value changes to lose 238 million yuan. This matter had a significant impact on Q1 net profit to mother. Q1 added orders of 26.329 billion yuan, an increase of 16.42% over the same period last year. Clean and efficient energy equipment showed impressive growth performance. The bank expects the company's net profit to return to mother in 2024, 2025, and 2026 to be 42.0, 49.0 billion yuan, and 5.68 billion yuan, corresponding to PE of 13.4, 11.5, and 9.9X, respectively, maintaining a “buy” rating.
研报掘金丨中信建投：东方电气Q1利润增速快于收入增速，维持“买入”评级
Research Report: CITIC Construction Investment: Dongfang Electric's Q1 profit growth rate is faster than revenue growth, maintaining a “buy” rating
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