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Citi Axes CGN POWER TP by 23% to HKD2.45, Maintains Sell Rating
2026-07-14 12:44:52
CGN POWER (01816.HK)'s on-grid power generation for 1H26 dropped 3.3% YoY to 109.6 million megawatt-hours, while average plant utilization sank 6.1% YoY to 3,554 hours, Citi said in a research report.

The broker forecast 2Q26 net profit to shrink 7.8% YoY to RMB2.7 billion, mainly affected by higher market-based sales mix.

The broker cut its TP from HKD3.2 to HKD2.45, representing a 23% reduction, and maintained the Sell rating, citing declining earnings and an unattractive forecast dividend yield of only 3.8% for 2026.
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AASTOCKS Financial News
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