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《大行報告》摩通料市場於中期業績公布前下調內地電力股盈測 預期下半年煤炭供需前景將更平衡
摩根大通發表報告指,華能(00902.HK)公布今年上半年盈利警告,相信市場會對華潤電力(00836.HK)及中國電力(02380.HK)有負面解讀,因華能的標準煤價於上半年料維持在每噸1,000元至1,100元人幣,即使假設電價上調20%,預期對大部分發電廠可能仍是會虧損的水平。 該行預料,市場在公布中期業績前,將下調中資電力股的盈利預測,而自今年5月起執行的煤炭長約有助限制煤價上升,估計下半年煤炭供需前景將更為平衡。整體而言,該行預測發電廠於煤價介乎每噸900元至950元人民幣可達至收支平衡。
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