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《大行報告》匯豐研究下調中廣核電力(01816.HK)目標價至2.5元 評級「買入」
阿思達克 08-28 12:08
匯豐研究發表研報指,中廣核電力(01816.HK)中期業績符預期,主要由於新產能投運且產能利用率改善,完成發電量增加,以及期內電價穩定,令上半年淨利潤按年增長18%,撇除單次性項目的核心純利按年升21%;以及借貸成本降低。 該行指,中廣核上半年營運狀況穩定,核電發電量按年增長14%,利用率按年提升7%,公司27臺在運核電機組於期內按計劃完成7次換料大修,預料下半年將再有10次大修,並重申2023財年利用率目標超過7,450小時。 但考慮到規劃的換料大修次數增加,加上臺山1號機組經歷長時間停用,預期下半年利用率將較上半年有所下降。另外根據煤電上網電價走勢,該行亦估計2024年市場交易電價可能按年略有下降,基於新項目預期獲批,長期增長前景維持,因此維持「買入」評級,目標價則從2.6元降至2.5元。
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