Movement Alert｜CGN Power Falls 3.15% in Regular Trading, Power Sector Sells Off Amid Institutional Position Reduction

Market Focus06-05

On June 5, CGN Power (01816.HK) fell 3.15% in regular trading, trading at HK$3.08/share, with turnover of approximately HK$98.03 million. The decline came amid a broad selloff across the power sector, compounded by sustained institutional selling pressure.

On the sector front, Independent Power Producers experienced widespread losses, with Huadian Power falling 6.43%, Datang Power down 4.9%, Huaneng Power declining 3.43%, China Resources Power dropping 2.42%, and China Power losing 2.12%. The sector-wide weakness reflects continued investor caution toward utilities despite earlier high-temperature catalysts.

Meanwhile, CITIC Securities Asset Management has conducted consecutive reductions in its CGN Power holdings. On June 2, the firm sold 4.086 million shares at approximately HK$3.13 per share, totaling around HK$12.77 million. Previously on May 26, the CITIC Securities-Yunfan Single Asset Management Plan also offloaded 13.196 million shares. Following the latest disposal, CITIC Securities Asset Management holds approximately 2.341 billion shares, representing a 20.97% stake. The persistent institutional selling has weighed on market sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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