Ge Long Hui·2025-08-18 07:25Group 1 - The core point of the article is that China Shenhua has announced the acquisition of assets from its controlling shareholder, China Energy Group, with a book value of 90.5 billion yuan by the end of Q2 2025 [1] - The acquisition funding will come from issuing A-shares to the parent company, using cash reserves, and raising A-shares from investors, with an estimated issuance of 2.438 billion A-shares, leading to a 12.3% expansion of total share capital [1] - The report indicates that the acquisition may slightly dilute earnings per share in the short term, but the company's commitment to a 75% dividend payout is seen as a way to reassure investors [1] Group 2 - The estimated interim dividend is projected to be 1 yuan, resulting in a dividend yield of 2.9% based on the earnings guidance midpoint [1] - Following the acquisition announcement, the company's stock price has increased by approximately 10% within two weeks, prompting a recommendation for investors to take profits at this stage [1] - The target price for H-shares is set at 32.18 HKD, with a "hold" rating suggested for investors [1]