Benefiting from the good results in the first quarter, Hong Kong power stocks rose across the board today, with Huaneng International Power up more than 8% at one point. As of press time, Huaneng International Power Co., Ltd. (00902CoinmasterhaktutsHK), Datang Power Generation (009913)Coinmasterhaktuts.HK), China Resources Power (00836.HK) and China Power International Power (01071.HK) rose 3.64%, 2.70% and 1.43% respectively.
NoteCoinmasterhaktutsPerformance of power stocks
In terms of news, some power companies recently announced their first-quarter results and operating data. Take Huaneng International Power as an example, last night, the company released first-quarter results, operating income of about 65.367 billion yuan, an increase of 0.15% over the same period last year; net profit belonging to shareholders of listed companies was about 4.596 billion yuan, an increase of 104.25% over the same period last year.
Note: announcement of Huaneng International Power
Stimulated by the news, Huaneng International Power shares rose more than 8% at one point in intraday trading.
Note: the share price performance of Huaneng International Power
Datang Power also released first-quarter operating data yesterday, in which the company and its subsidiaries completed a total of about 59.8619 billion kilowatt-hours of electricity, an increase of about 12.82 percent over the same period last year. The company also pointed out that it is mainly driven by the increase in electricity demand of the whole society compared with the same period last year.
Note: announcement of Datang Power Generation
ExceptCoinmasterhaktutsIn addition to the individual stock news, the National Energy Administration released national power industry statistics from January to March, of which the country's major power generation enterprises invested 136.5 billion yuan in power supply projects, an increase of 7.7 percent over the same period last year. The investment in the power grid project was 76.6 billion yuan, an increase of 14.7% over the same period last year.
Judging from March, the country's cumulative installed power generation capacity is about 2.99 billion kilowatts, an increase of 14.5 percent over the same period last year. Of this total, the installed capacity of solar power is about 660 million kilowatts, an increase of 55.0 percent over the same period last year, and the installed capacity of wind power is about 460 million kilowatts, an increase of 21.5 percent over the same period last year.
How do institutions view the electricity market this year?
In the latest analysis, Guoyuan Securities predicts that the profits of the coal power industry will tend to be stable in 2024, while the installation speed of green power will be accelerated. In the field of coal and power, as the supply and demand of thermal coal is expected to maintain a balance, prices will remain stable, coupled with the performance guarantee policy of medium-and long-term contracts of thermal coal, coal-burning costs will be effectively controlled. In addition, the stability of Changsha electricity price, the introduction of coal capacity electricity price policy, and the improvement of auxiliary service market and spot trading market will provide stable expectations for the profit of coal power units. thus it is conducive to the realization of multi-dimensional value in the power industry.
In the field of green power, with the continuous decline in the prices of photovoltaic modules and wind turbines, the terminal installation demand of photovoltaic and wind power is expected to grow rapidly. The realization of renewable energy subsidies will improve the cash flow of power plant operators, while the restart of CCER (China's certified voluntary emission reductions) will boost the profitability of green power projects, heralding a repair of the industry's overall valuation. Compared with photovoltaic, wind power projects have improved power generation efficiency after large-scale, coupled with historically low bank interest rates, wind power projects have become the most cost-effective renewable energy choice, and the stability of project returns is also better than photovoltaic power generation.