西南证券给予华能国际买入评级

Core Viewpoint - Southwest Securities issued a report on August 1, giving Huaneng International (600011.SH) a "buy" rating based on several positive factors [2]. Group 1: Rating Justifications - Low coal prices are mitigating the risk of declining electricity prices, leading to steady profit growth in coal power generation [2]. - Accelerated construction of wind and solar energy projects is resulting in a significant increase in on-grid electricity volume [2]. - Performance in Singapore and Pakistan showed a year-on-year change of -20.9% and +1.6%, respectively [2].