China Power International Development Sees Growth in Renewable Energy Sales
CHINA POWER (02380) had a consolidated total electricity sales volume of 30.7477 million megawatt-hours in the first quarter, an increase of 2.59% year-on-year.
CHINA POWER (02380) announced that the group's total combined sales of electricity in March 2025 amounted to 1096.1...
Two departments: By the end of 2025, the continuous settlement trial operation of the electrical utilities spot market in the southern region is to be launched.
On April 29, the General Office of the National Development and Reform Commission and the Comprehensive Department of the National Energy Administration issued a notice on comprehensively accelerating the construction of the Electrical Utilities spot market.
[Brokerage Focus] Guotai HAITONG SEC: The understanding of the Electrical Utilities market among companies and investors will change in 2025-2026.
Jinwu Financial News | Guotai HAITONG SEC states that in 2025-2026, both power companies and investors will change their understanding of the electrical utilities market. Currently, the further north you go, the better the coal power generation price: the higher the proportion of new energy, the scarcity of coal power generation is evident. At the same time, this year's annual long-term contract prices in the south have also put pressure on coal power generation there, as power plants shift from pursuing quantity to focusing on price and efficiency, and recently, spot electricity prices in the south have started to rise. It is believed that the possibility of northern electricity prices bottoming out is already quite high, while regional disparities in the south still exist. In the future, we may witness two historic firsts: 1. Rising spot electricity prices in 2025, 2. Increased annual long-term contracts in 2026.
The market may reach a critical juncture in the short term, with Banks and Electrical Utilities showing repeated activity, and the Technology Sector poised to take off.
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A nationwide blackout occurred in Spain and Portugal, and CHINA POWER equipment is expected to accelerate its international expansion.
① On April 28, a large-scale power outage occurred in parts of Spain, Portugal, and southern France, affecting millions of people. ② Wanlian Securities pointed out that against the backdrop of energy transition, the Global Wind Power installed capacity is rapidly increasing, coupled with the upgrade of Power Grid Equipment, leading to stable growth in Global power grid construction investment.
The market is fluctuating in search of main lines, Electric Power stocks are experiencing another surge, and the new policy on tax refunds for departure is attracting attention.
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Highlights from the Brokerage morning meeting: Demand improved in the first quarter, and performance recovery in the Electrical Utilities New energy Fund industry is expected.
In today's Brokerage morning meeting, Sinolink believes that the core logic of incremental policies is becoming clearer; China Securities Co.,Ltd. noted that the current expectations for Fuel Cell Energy vehicles in the Sector are relatively weak, and there might be an upward inflection point in sales during the peak season in May-June; HTSC suggested that the demand is improving in the first quarter, and the performance recovery of Electrical Utilities New energy industry is expected.
CHINA POWER: Annual Report 2024
China Power International Development Signs Equity Transfer Deals as Part of Asset Restructuring
Brokerage morning meeting highlights: Focus on sectors benefiting from domestic demand and investment opportunities in new consumer segments.
In today's Brokerage morning meeting, HTSC proposed to focus on investment opportunities in sectors benefiting from domestic demand and new Consumer sub-sectors; China Securities Co.,Ltd. stated that the decrease in Real Estate sales and new starts has significantly narrowed, showing ongoing effectiveness in stabilizing after the decline; Galaxy Securities believes that the coal and electricity regulation ability has been further strengthened, and the reconstruction of the sector's valuation is expected to accelerate.
Green Energy Concept stocks rose broadly, XINTE ENERGY (01799) increased by 1.90%, and the Green Certificate Green Energy Trade in the Southern Power Grid operation area has exceeded 100 billion kilowatt-hours.
Jinwu Financial News | Green Energy Concept stocks are generally rising, XINTE ENERGY (01799) increased by 1.90%, ENN ENERGY (02688) rose by 1.68%, CHINA POWER (02380) went up by 1.37%, Datang International Power Generation (00991) grew by 1.23%, XINYI ENERGY (03868) increased by 1.16%, and Goldwind Science& Technology (02208) rose by 1.15%. On the news front, the latest data from the Guangzhou Power Trading Center shows that in the first quarter of this year, the trading scale of green certificates and green electricity in the Southern Grid operation area reached 128.9 billion kilowatt-hours, corresponding to 0.1289 billion green certificates, achieving explosive year-on-year growth in total trading volume.
CHINA POWER (02380): The restructuring plan has exceeded expectations, and the second growth curve is about to begin.
On the evening of April 16, CHINA POWER International Development Limited (02380) announced a major Assets restructuring plan, further clarifying the details of the restructuring Trade plan.
China's Large-Scale Industries See Faster Resource, Electricity Production in March
National Bureau of Statistics: In March, the production growth rate of above-scale industrial raw coal, Crude Oil Product, Henry Hub Natural Gas, and Electrical Utilities accelerated.
In March, the production growth rates of raw coal, Crude Oil Product, Henry Hub Natural Gas, and Electrical Utilities in large-scale industries accelerated.
[Brokerage Focus] CITIC SEC: The price difference settlement mechanism is expected to support electricity prices and profitability after the New energy Fund enters the market.
Jinwu Financial News | CITIC SEC stated that New energy Fund price difference contracts have been widely applied in various countries in Europe, promoting investment enthusiasm by locking in electricity prices and profit expectations for operators, thereby facilitating the transformation of the energy structure. Our country plans to promote the full market entry of new energy and establish a settlement mechanism for New energy Fund price differences to alleviate the profit pressure on green power operators caused by increased market transactions and reduced prices. The specific effects will depend on the actual policies in different regions. The bank calculates that the impact of price difference settlement costs on terminal electricity prices is extremely limited when measured from the perspective of total electricity consumption in society. Increased participation of New energy in the spot market may lead to a decrease in average prices and increased volatility, with the specific impact depending on market
Some Electric Power stocks rose, Datang International Power Generation (00991) increased by 3.18%, with two departments promoting the application of advanced innovative technologies in the coal power sector.
Jinwu Finance | Some Electric Power stocks have risen, with Datang International Power Generation (00991) up by 3.18%, HUADIAN POWER (01071) up by 2.83%, HUANENG POWER (00902) up by 1.99%, SICHUAN EN INV (01713) up by 1.69%, CHINA RES POWER (00836) up by 1.21%, and CHINA POWER (02380) up by 0.34%. On the news side, the National Development and Reform Commission and the National Energy Administration issued a notice on the "Implementation Plan for the Upgrading of the New Generation of Coal Power (2025-2027)" after a comprehensive summary and evaluation of the "Three Reforms Joint Action" project.
China Power International Development Limited's (HKG:2380) Intrinsic Value Is Potentially 60% Above Its Share Price
BOCOM INTL: The impact of tariffs on photovoltaic manufacturing is limited, and high-dividend operators are relatively defensive.
For the Operation Sector, the bank prefers CHINA POWER (02380) and CHINA LONGYUAN (00916) with clear dividend policies. As for the Photovoltaic Sector, the bank expects that Chinese photovoltaic companies will actively respond to reduce the impact of tariffs, being Bullish on the leading Polysilicon company GCL TECH (03800) and the leading Photovoltaic Glass company XINYI SOLAR (00968).
[Brokerage Focus] CITIC SEC points out that Hong Kong stocks are undervalued in green energy, with valuations having a margin of safety and the expectation for policy improvement.
Jinwu Financial News | According to CITIC SEC Research Reports, from January to February 2025, the overall electricity consumption is expected to grow by 1.3% year-on-year, with a modest growth rate mainly due to warmer winter temperatures and the high base effect from last year's leap year. The growth rate of electricity consumption in the secondary and tertiary sectors, as well as residential use, has all decreased month-on-month; the growth rates in high-energy-consuming regions and coastal areas have both slightly declined. On the supply side, investments in thermal and Nuclear Power have significantly accelerated, while the power grid has continued the strong growth trend seen since 2024, with investment amounts showing a year-on-year growth rate of 33.5%; compared to 2024 data, investments in thermal and Nuclear Power have notably accelerated, but the overall growth rate of power source investments has slowed.