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研報掘金|中信證券:華能國際電力次季業績下滑 予目標價5.2港元
格隆匯 08-05 14:11
中信證券發表研究報吿指,華能國際電力次季業績下滑,收入及淨利潤分別按年跌12.05%及29.58%。另外,集團次季的煤機業務利潤11.55億元,折算度電利潤0.015元,相較於首季錄得明顯下降。受到火電電量下降影響單位折舊上升、結束暖氣季後檢修增加及發電效率下降、次季單位入爐煤價降幅有限是煤電業績按季明顯下滑的主因。考慮汛期來水持續偏豐機率較高,預計公司第三季的火電電量或持續受擠壓,單位折舊上升的影響或會持續。中信證券維持華能2024至26年淨利潤預測,分別為120億、158億及171億元,目標價為5.2港元,續予“買入”評級。
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