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研报掘金丨东莞证券:维持华电国际“买入”评级,重组有助于提升资产规模和经营业绩
Ge Long Hui A P P·2025-09-02 07:52

Core Viewpoint - The report from Dongguan Securities indicates that Huadian International's net profit attributable to shareholders is expected to increase by 13.15% year-on-year in the first half of 2025, benefiting from the decline in coal prices and other factors [1] Group 1: Company Performance - Huadian International has a total of 55 operating controlled power generation enterprises with a total installed capacity of 77.4446 million kilowatts, of which coal-fired power generation accounts for approximately 70.24% [1] - The company has successfully completed an asset restructuring, with related assets transferred on June 1, 2025, which is expected to enhance the company's asset scale and operational performance [1] Group 2: New Capacity Additions - The newly added units from the restructuring include: Jiangsu Company with a capacity of 12.7586 million kilowatts, Shanghai Company with 0.0264 million kilowatts, Minhang Company with 0.01874 million kilowatts, University Town Company with 0.01853 million kilowatts, Guangzhou Company with 0.13386 million kilowatts, Jiangmen Company with 0.023 million kilowatts, Qingyuan Energy with 0.0075 million kilowatts, and Guigang Company with 1.26 million kilowatts [1]