Zhi Tong Cai Jing·2025-08-21 09:30Core Viewpoint - Bank of America Securities anticipates that Longyuan Power (001289)(00916) will continue to face profit pressures due to declining electricity prices and utilization rates [1] Group 1: Earnings Forecast - The upcoming provincial bidding results for wind and solar power capacity are expected to lead to further profit downgrades for Longyuan Power [1] - The firm has lowered its earnings estimates for Longyuan Power by 4% for the next two years, reflecting a more conservative outlook for the second half of the year [1] - Despite the earnings downgrade, the lower interest costs are expected to partially offset the impact [1] Group 2: Rating and Target Price - Bank of America maintains a "Underperform" rating for Longyuan Power, with the target price adjusted from HKD 5.7 to HKD 6 [1] - The firm notes a high level of uncertainty in its forecasts, particularly regarding potential asset injections in the second half of the year [1]