Zhi Tong Cai Jing·2026-02-02 03:37Core Viewpoint - Power stocks are experiencing a decline, with major companies like Huaneng International, China Resources Power, and Huadian International seeing significant drops in their stock prices due to regulatory changes in the electricity pricing mechanism [1] Group 1: Stock Performance - Huaneng International (600011)(00902) fell by 5.26%, trading at 5.4 HKD [1] - China Resources Power (00836) decreased by 3.48%, trading at 17.18 HKD [1] - Huadian International (600027)(01071) dropped by 2.91%, trading at 4.01 HKD [1] Group 2: Regulatory Changes - On January 30, the National Development and Reform Commission and the National Energy Administration issued a notice to improve the capacity pricing mechanism for power generation [1] - The notice specifies that the coal power capacity pricing mechanism will be refined, allowing local adjustments to the long-term market trading price floor based on supply and demand and operational costs [1] - The notice encourages flexible pricing mechanisms between supply and demand parties, which may lead to a further decrease in electricity price levels in some provinces [1]