Core Viewpoint - CICC's report indicates that China General Nuclear Power Corporation (CGN) experienced a 2% year-on-year increase in total power generation to 247 billion kWh and a 2.36% increase in total grid-connected power generation to 232.6 billion kWh [1] Group 1: Financial Performance - The report highlights that the electricity price in Guangdong has been implemented as expected, leading to a recovery in profitability for nuclear power within the province [1] - CICC has raised its profit forecast for CGN by 2.5% to 10.3 billion yuan for this year, considering the asset transfer of Huizhou Nuclear Power [1] - The expected contribution from Huizhou Units 1 and 2, which are anticipated to commence operations this year, is factored into the profit forecast [1] Group 2: Industry Outlook - CICC maintains a positive outlook on the stable growth and dividend value of the nuclear power industry [1] - The target price for CGN's H-shares has been increased by 11% to HKD 3.99, while the target price for A-shares remains unchanged at RMB 5.07 [1]
研报掘金｜中金：上调中广核电力H股目标价至3.99港元 维持“跑赢行业”评级