Xin Lang Cai Jing·2026-02-27 05:54Core Viewpoint - The recent issuance of the "Implementation Opinions on Improving the National Unified Electricity Market System" by the State Council is expected to lead to profitability improvements and value reassessment in the electricity sector [1] Group 1: Stock Performance - Huaneng International (00902) increased by 6.54%, trading at HKD 6.03 - Datang Power (00991) rose by 5.22%, trading at HKD 2.62 - Huadian International (01071) decreased by 4.46%, trading at HKD 4.45 - China Resources Power (00836) increased by 1.81%, trading at HKD 18.59 [1] Group 2: Market Insights - Guosheng Securities reported that the top-level design of the national unified electricity market will allow for a comprehensive market reflection of the multi-dimensional values of electricity resources, including energy, regulation, environment, and capacity [1] - Dongfang Securities noted that by 2026, the compensation ratio for coal-fired power capacity prices across provinces is expected to continue to rise, and the wholesale market will be fully rolled out nationwide, leading to a transition of thermal power from a base-load power source to a regulatory power source [1] - The commercial model of thermal power is showing signs of improvement, with expectations for increased dividend capacity and willingness in the thermal power industry by 2026 [1]