Sou Hu Cai Jing·2025-11-20 09:01Core Viewpoint - Longyuan Power (00916.HK) maintains a "Buy" rating despite a year-on-year decline in net profit due to high base effects from last year's asset disposals and fluctuations in green electricity prices, while revenue increased in Q3 2025 [1] Financial Performance - Q3 2025 revenue increased year-on-year, but net profit attributable to shareholders decreased due to high base effects from last year's thermal power asset disposals [1] - Operating cash flow significantly improved by 53.33% driven by accelerated recovery of national subsidies [1] - Wind power generation showed steady growth, while solar power generation saw a remarkable year-on-year increase [1] Market Position and Ratings - As of November 20, 2025, Longyuan Power's stock closed at HKD 6.99, with a trading volume of 12.49 million shares and a turnover of HKD 87.46 million [1] - The stock has received "Buy" ratings from six investment banks in the past 90 days, with an average target price of HKD 9.43 [1] - Longyuan Power's market capitalization is HKD 23.258 billion, ranking 7th in the power industry [1][2] Key Financial Metrics - Return on Equity (ROE): 8.08%, compared to the industry average of 0.1% [2] - Market capitalization: HKD 23.258 billion, above the industry average of HKD 18.23 billion [2] - Revenue: HKD 28.143 billion, slightly below the industry average of HKD 29.099 billion [2] - Net profit margin: 26.66%, higher than the industry average of 25.47% [2] - Debt ratio: 67.27%, compared to the industry average of 61.72% [2]