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China Power International Unit Hire EPC Services to Power Line Construction
DBS: Goldwind Science& Technology's wind farm business faces the risk of declining electricity prices, lowering the Target Price to HKD 6.50.
DBS has released a Research Report stating that Goldwind Science& Technology (02208) achieved a 46% year-on-year increase in net profit last year, which met expectations, but was impacted by revenue from wind farms falling short of expectations. It is expected that the company's sales of wind Generators will increase by 79% year-on-year this year, and the gross margin for wind Generators is projected to further improve by more than 1.5 percentage points to 6.6%, benefiting from a strengthened product portfolio and cost-saving improvements. The bank forecasts that Goldwind's net profit will increase by 58% and 40% year-on-year in the next two years, driven by strong sales. However, it has lowered the target PE for the stock from 11 times to 7.5 times, based on the company's increasing risk exposure in the CHINA POWER sector, which is facing heightened risks from falling electricity prices.
Electricity Prices In Asia Projected To Rise Modestly In 2025: BMI
CHINA POWER (02380.HK) has signed a general contracting agreement.
On April 2, 2023, CHINA POWER (02380.HK) announced that on April 2, 2025, Haiwei Wind Power (a wholly-owned indirect subsidiary of the company) signed a general contracting agreement with ShanDong Institute. According to this agreement, ShanDong Institute will provide surveying and design, equipment procurement, construction and installation works, and other technical support services for the transmission line project at a cost of RMB 61,509,000. The construction of the transmission line is necessary and essential for Haiwei Wind Power to connect the project's onshore centralized control center to the local grid's substation, ensuring the complete power output of its offshore wind farm.
Express News | China Power International Development - Shandong Institute to Provide Construction Services, Others for RMB61.5 Mln to Unit
CHINA POWER (02380.HK) had a combined total electricity sales of 9.805 million megawatt-hours in February, an increase of 8.03% year-on-year.
Gelonghui, on March 28, announced that CHINA POWER (02380.HK) reported that the total consolidated electricity sales volume of the company and its subsidiaries in February 2025 was 9,804,644 megawatt-hours, an increase of 8.03% compared to the same period last year; while the total consolidated electricity sales volume for the first two months of 2025 was 19,785,981 megawatt-hours, an increase of 1.86% compared to the same period last year.
