Movement Alert｜China Longyuan Power Falls 3.19% in Regular Trading, Bank of America Maintains Underperform Rating Amid Weak Generation Data

Market Focus06-10

On June 10, China Longyuan Power (00916.HK) declined 3.19% in regular trading, trading at HKD 6.06 per share, with trading volume of HKD 58.27 million.

On the news front, Bank of America Securities recently maintained its Underperform rating on China Longyuan Power, citing concerns that rising coal costs will outpace electricity price increases. The bank also noted that green power direct supply remains too small in scale with uncertain economic returns, making it difficult to support earnings growth.

Adding to the pressure, the company disclosed that its May wind power generation fell 2.2% year-over-year, while cumulative wind power output for the first five months declined 6.2%, reflecting persistent operational weakness in its core business. Although total May generation rose 1.24% to 6.76 million MWh supported by an 17.94% surge in solar output, cumulative generation through May still fell 1.29% year-over-year.

Within the Renewable Electricity sector, the overall performance was weak. Among individual stocks, Xinyi Energy down 1.87%, Concord New Energy down 3.3%, SDHG down 5.06%, Datang Renewables down 1.86%, GCL New Energy down 4.76%.

(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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