Daiwa released a research report stating that China Resources Power's rating was lowered from “outperforming the market” to “holding”, and the target price was slightly reduced from HK$20.4 to HK$20. Investors were advised to leave the market profitably. The priority updates for China's independent power generation industry were hydropower, coal-fired power plants, nuclear energy, and renewable energy, respectively. Coal prices fell in the first quarter of this year, and the profits of independent producers of coal-fired power generation increased sharply. The downward trend in coal prices in this bank is already reflected in stock prices. Recently, coal prices have rebounded, and Rundian may face a high base for profit in the third quarter.
大和：下调华润电力评级至“持有” 目标价微降至20港元
Yamato: Downgraded China Resources Electric Power's rating to “hold” and slightly reduced the target price to HK$20
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