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2026-04-09 11:32:01 BofAS said in a research report that after mainland independent power producers announced their FY2025 results, its concerns over declining on-grid tariffs and utilization hours were confirmed. BofAS prefers hydropower > nuclear power > wind/solar power > coal-fired independent power producers, and downgraded HUADIAN POWER (01071.HK) to "Underperform" due to rising coal costs. The bank noted that the wind power supply chain continues to benefit from growth in high-margin export businesses, supporting its "Buy" rating on ORIENT CABLE (603606.SH), as well as its recent upgrade of GOLDWIND (02208.HK) to "Buy". It also reiterated its "Buy" ratings on EVERBRIGHT ENVIRONMENT (00257.HK) and GUANGDONG INVESTMENT (00270.HK) after their results beat expectations. The bank adjusted target prices for multiple sector stocks as follows: Stock | Investment Rating | Target Price (HKD) CGN POWER (01816.HK) | Underperform | HKD2.5 -> HKD3 CGN (003816.SZ) | Underperform | RMB3.1 -> RMB3.7 HUADIAN POWER (01071.HK) | Neutral -> Underperform | HKD4.3 -> HKD3.5 HUADIAN A SHARE (600027.SH) | Neutral -> Underperform | RMB5.1 -> RMB4.1 CHINA LONGYUAN (00916.HK) | Underperform | HKD6.1 -> HKD5.8 CHINA LONGYUAN A SHARE (001289.SZ) | Underperform | RMB13.7 -> RMB12.8 DATANG RENEWABLE (01798.HK) | Underperform | HKD1.9 -> HKD1.55 GUIGUAN ELECTRIC POWER (600236.SH) | Buy | RMB11.3 -> RMB11.5 POWER ASSETS (00006.HK) | Buy | HKD63 -> HKD63.5 (hc/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |