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<Research>DBS Cuts CHINA LONGYUAN (00916.HK) TP to $7.1, Keeps Rating at Hold
Recommend 5 Positive 6 Negative 4 |
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CHINA LONGYUAN (00916.HK)(001289.SZ) experienced an 11% YoY decline in 1H25 profit after tax, below expectation, DBS Group Research issued a research report saying. However, the distribution of an interim dividend was a positive surprise. Therefore, the broker cut its target price for the Company from $7.2 to $7.1, with rating kept at Hold. Although the increase in the proportion of market-based transactions led to continued pressure on electricity tariffs, CHINA LONGYUAN has implemented several measures to mitigate the impact. These strategies appear to be effective, as the Company's wind tariffs only decreased by 3.7% YoY in 1H25, while solar tariffs remained relatively stable. The broker expected the average electricity tariff for wind/ solar to decrease by 3.5%/ 2% this year. AASTOCKS Financial News Website: www.aastocks.com |
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