研报掘金丨华源证券：维持湖北能源“买入”评级，展望未来，业绩或有所改善

Core Viewpoint - Hubei Energy reported a net profit attributable to shareholders of 2.336 billion yuan for the first three quarters, a year-on-year decrease of 5.07%, while the net profit for the third quarter reached 1.38 billion yuan, an increase of 33.26% [1] Financial Performance - The significant increase in third-quarter profit was influenced by a non-recurring gain of approximately 1.4 billion yuan from the transfer of equity in Changjiang Securities [1] - The company's total hydropower generation in October was 1.916 billion kilowatt-hours, representing a year-on-year increase of 804% [1] Future Outlook - The release of supporting details for Document No. 136 and bidding results for new energy projects is expected to stabilize the development of new energy in Hubei province, with bidding prices set between 0.25 and 0.39 yuan per kilowatt-hour [1] - Company executives have shown confidence by increasing their shareholdings and signing a 26.7 billion yuan investment project with the government of Xiangyang City [1] - The Three Gorges Group is providing targeted financing support for the development of the all-electric power platform in Hubei [1] Investment Rating - The report maintains a "Buy" rating for Hubei Energy [1]