CHINA POWER Shares Gain on Higher April Electricity Sales and Favorable Water Inflow Outlook

Stock News06-01

CHINA POWER (HKEX: 02380) saw its shares rise nearly 3% in late trading.

The company recently announced that its total consolidated electricity sold for April reached 10.6934 million MWh, representing a 4.80% increase compared to the same month last year.

For the first four months of the year, the total consolidated electricity sold amounted to 39.8134 million MWh.

Analysis from Guoyuan Securities highlighted that nationwide electricity consumption in April grew by 6.0% year-on-year, exceeding market expectations and indicating a recovery in economic momentum.

The firm also noted that abundant water inflows during the wet season have been better than anticipated, with power generation in April increasing by 12.2%.

CHINA POWER is viewed as a beneficiary of this improved hydrological situation and the potential integration of its parent company's hydropower assets.

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