研報掘金丨長江證券:華能水電Q2及上半年業績有望加速增長,維持“買入”評級
長江證券研報指出,量價齊升,華能水電(600025.SH)上半年業績展望優異。隨着較低電價的2020年不再納入滾動測算,2024年雲南省內電價升幅約束將會有所釋放,疊加雲南省內電力供需形勢持續處於緊張局勢,因此預計雲南省市場化交易電價將實現同比上升。整體來看,在量價均有望獲得較強支撐的拉動下,公司二季度及上半年業績有望加速增長。隨着進入三季度用電高峯期,預計豐沛的庫容將會轉換成較強的出力從而對下半年的發電量形成進一步催化。託巴投產庫容高位,全年業績高增可期。維持“買入”評級。
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