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《大行報告》花旗:中國電力(02380.HK)上半年盈喜勝預期 受惠單位燃料成本減幅高於預期
花旗發表報告指,中國電力(02380.HK)上半年發盈喜,預計淨利潤將按年增長112至135%至18至20億人民幣,好過市場預期,佔2023年盈利48%至54%,而去年上半年淨利潤則佔2022年全年32%。 該行指,中國電力利潤增長原因是燃煤電廠利潤率,由去年同期淨虧損10.96億人民幣恢復到今年上半年淨利潤約5億人民幣,單位燃料成本按年下降9至10%;風力發電和太陽能發電的利潤大幅增長,2022年底發電量較2021年底分別按年增長74%和38%;但由於華南地區幹旱,水力發電表現不佳,抵銷部分利潤增長。公司計劃於8月24日發布中期業績詳情,該行預計下半年將進一步削減單位燃料成本和增加可再生能源產能。 花旗表示,維持對中國電力目標價4元,評級「買入」。
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