Movement Alert｜Dongfang Electric Falls 3.02% in Regular Trading, JPMorgan Stake Reduction Combined with Citi Sharply Cutting Target Price

On July 14, Dongfang Electric (01072.HK) fell 3.02% in regular trading, trading at 21.32 HKD/share, with turnover of approximately 23.10 million HKD.

On the news front, Hong Kong Exchange data shows that on July 6, JPMorgan reduced its holdings in Dongfang Electric by approximately 2.03 million shares at roughly 24.33 HKD per share, totaling around 49.44 million HKD. Following the disposal, JPMorgan's stake dropped to 6.9%. Additionally, Citibank recently slashed Dongfang Electric's target price from 54 HKD to 30 HKD, a 44% reduction, while lowering earnings forecasts for the next three years by 1-6% to reflect more cautious revenue and margin assumptions. The revision was attributed to the market adopting more realistic expectations for the revenue contribution from gas turbine exports. Citi nevertheless maintained its Buy rating, noting that new orders in the first five months grew 10% year-on-year, with the backlog rising 7% to 150 billion RMB.

Within the Heavy Electrical Equipment sector, the overall sector declined broadly. Among individual stocks, GOLDWIND down 4.57%, DAJIN down 4.05%, HARBIN ELECTRIC down 3.13%, GUOXIA TECH down 2.80%, SH ELECTRIC down 0.95%.

(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.)