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Research Reports for Gold Mining丨Central China: Initiating a "Buy" rating on Sichuan Chuantou Energy, with stable investment returns and dividends.
The Research Reports from Central China indicate that Sichuan Chuantou Energy (600674.SH) has a Net income of 4.508 billion yuan for 2024, a year-on-year increase of 2.45%; in the first quarter of 2025, the Net income is expected to be 1.479 billion yuan, a year-on-year growth of 16.16%. The company's investment income is stable, benefiting from the increase in hydropower generation and a stable rise in hydropower prices. In the first quarter of 2025, hydropower generation in China continues to grow, the company’s projects in the Yalong River and Dadu River basins are consistently advancing, the second phase of the Laba Mountain wind power project has begun operation, and the construction of the Dofu pumped-storage station and the Lianghekou mixed pumped-storage station has started, acquiring 87% of the shares in the Hubei Yuanan pumped-storage power station.
Research Reports Gold Mining | Huayuan Securities: Maintain Sichuan Chuantou Energy "Buy" rating, controlling shareholder increases shareholding showing confidence.
Huayuan Securities Research Reports pointed out that Sichuan Chuantou Energy (600674.SH) is expected to achieve a Net income of 4.508 billion yuan for the year 2024, with a year-on-year growth of 2.45%. The company's Net income for a single quarter in the fourth quarter is 0.086 billion yuan, a year-on-year decline of 84.64%, with performance falling short of market expectations. The company announced a projected Net income of 1.479 billion yuan for the first quarter of 2025, with a year-on-year increase of 16.16%, which basically meets market expectations. In addition, the company announced a profit distribution plan for 2024, intending to distribute a dividend of 0.40 yuan per share (tax included), with cash dividends accounting for 43.26% of the Net income. Furthermore, the company announced a Shareholding plan by its controlling shareholder.
Research Reports digging gold丨CICC: Maintain Sichuan Chuantou Energy "outperform industry" rating, Target Price 19.59 yuan.
The China International Capital Corporation Research Reports indicate that Sichuan Chuantou Energy (600674.SH) will underperform our expectations in 2024, while the performance in Q1 2025 is expected to exceed our expectations. The underperformance in 2024 is primarily due to the below-expected profit performance of Yalong River in Q4 2024. In terms of investment returns, Yalong River is expected to contribute 3.97 billion yuan in 2024, a year-on-year decrease of 4.6%, with the pressure on volume and price in Q4 2024 dragging down the overall performance for the year. In 2025, the annual contract electricity price in Jiangsu is expected to decrease by about 4 cents per kilowatt-hour, and the pricing of the Yalong River Jin Guan unit is linked to the electricity price in Jiangsu, which carries uncertainties regarding the actual grid electricity price; attention should be paid to the outcomes of negotiations.
Sichuan Chuantou Energy 2024 Profit Up 2.5%, Revenue Rises 8.5%
Sichuan Chuantou Energy Q1 Profit Up 16%, Revenue Jumps 41%
Tianfeng: The Yalong River Hydropower Company's integrated water and wind power project may have good profitability.
Can the integration of water and wind energy create another Yalong River?
