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Zhongjin: the continued release of grid consumption electricity price risk, regional differentiation intensifies.
The overall performance of the new energy power companies in 1H24 is lower than market expectations. The profitability of the new energy assets in 1H24 continues to decline, reflecting the downward pressure on utilization hours and comprehensive electricity prices, and the cost rigidly amplifies the decline in profits.
CGN Power to Redeem 1 Billion Yuan Ultra-Short-Term Bonds; Hong Kong Shares Up 3%
Nuclear energy resurgence? Asset management companies are increasing their bets on related stocks.
①Several asset management companies see the potential of nuclear energy-related stocks and are considering adding them to their investment portfolios; ②Fund managers believe that the continuously growing AI and datacenters will significantly increase the demand for electrical utilities in the future, and nuclear energy will play a significant role in increasing power supply; ③However, nuclear energy still faces significant controversies among ESG investors.
cgn power (01816.HK): The first tranche of ultra short-term financing bonds for the year 2024 will be due for payment on September 23rd.
Guangdong Nuclear Power (01816.HK) announced that it completed the issuance of the first tranche of ultra-short-term financing bonds for the year 2024 on April 3, 2024. The issuance amount of the ultra-short term financing was 1 billion yuan, with a maturity of 169 days, a coupon rate of 2.00%, and a face value of 100 yuan. It was underwritten by Industrial and Commercial Bank of China Limited and Hua Xia Bank Limited. The ultra-short-term financing will be redeemed on September 23, 2024.
The Hang Seng Index fell 125 points, with Topsports down 16% and lithium industry stocks rebounding.
The market is waiting for US inflation data. US stock futures are soft, and Hong Kong stocks fell today. The Hang Seng Index opened 182 points lower, with the decline widening to 269 points at a low of 16,964 points. In the afternoon, the decline narrowed, with a total daily drop of 125 points or 0.7% to close at 17,108 points. The HSI Technology Index gained less than 1 point, closing at 3,450 points. The total trading volume of the market for the whole day was 105.785 billion yuan. Chinese tech stocks fell back, with Sinopec (00386.HK), CNOOC (00883.HK), and PetroChina (00857.HK) all down more than 2%.
CITIC Securities: The profit decline of the electrical equipment industry narrows, and leading enterprises show significant excess.
The top electrical utilities companies rely on their advantages in products and market layout, as well as their first-mover advantage, to bring significant profitability. Their performance in exceeding industry-wide growth is stable, which aligns well with the current domestic and international resonance in the electrical utilities system construction cycle.