CHINA POWER(HK:02380)2024-08-19 07:11Investment Rating - The report suggests a positive outlook for the company, indicating a strong performance in electricity sales and recommending close attention to the company's diverse power generation portfolio [4]. Core Insights - The company reported a significant increase in total electricity sales for July 2024, with a year-on-year growth of 29.22%, and a cumulative increase of 32.65% for the first seven months of 2024 [2][4]. - Hydropower sales saw a remarkable year-on-year increase of 197.44% in July, while wind power and solar power also experienced substantial growth of 51.35% and 88.05%, respectively [4]. - The report highlights that despite a decline in coal-fired power generation by 16.31%, the overall performance of the company remains strong due to the growth in renewable energy sources [4]. Summary by Category Electricity Sales Performance - Total electricity sales for July 2024 reached 12,243,061 MWh, up from 9,474,895 MWh in July 2023, marking a 29.22% increase [3]. - For the first seven months of 2024, total electricity sales amounted to 76,587,215 MWh, compared to 57,734,268 MWh in the same period of 2023, reflecting a 32.65% increase [3]. Generation by Type - Hydropower generation in July 2024 was 2,693,092 MWh, a 197.44% increase from 905,415 MWh in July 2023 [3]. - Wind power generation reached 2,221,998 MWh in July 2024, up 51.35% from 1,468,106 MWh in July 2023 [3]. - Solar power generation was 2,277,473 MWh in July 2024, an increase of 88.05% from 1,211,096 MWh in July 2023 [3]. - Coal-fired power generation decreased to 4,687,710 MWh in July 2024, down 16.31% from 5,601,084 MWh in July 2023 [3].