HDPI(600027) 东莞证券·2025-05-27 09:33Investment Rating - The report maintains a "Buy" rating for the company, indicating an expectation that the stock will outperform the market index by more than 15% over the next six months [5]. Core Insights - The company has received approval for its asset restructuring, which is expected to enhance its asset scale and operational performance [1]. - The restructuring will lead to a significant increase in the company's total assets by 18.37% and an expected increase in operating revenue by 25.07% and net profit by 5.93% based on 2024 data [3][4]. - The company is one of the largest listed power generation companies in China, with a current installed capacity of 59.8186 million kilowatts, which will increase to 75.8786 million kilowatts post-restructuring [3]. Summary by Sections Company Overview - The company operates in 12 provinces and cities across China, showcasing a diverse range of power generation assets and a well-established industrial chain [3]. Financial Projections - The projected earnings per share (EPS) for 2025, 2026, and 2027 are expected to be 0.64 yuan, 0.69 yuan, and 0.73 yuan respectively, with corresponding price-to-earnings (PE) ratios of 9, 9, and 8 [4]. Market Position - The restructuring is anticipated to strengthen the company's market share in Jiangsu, Shanghai, Guangdong, and Guangxi regions, further solidifying its competitive advantage [3].