On June 4, Huaneng International Power (00902.HK) fell 3.17% in regular trading to 7.32 HKD, with turnover of 121 million HKD, as selling pressure extended following the A-share counterpart's 6.86% plunge on June 2.
The decline follows a period of extreme volatility — the A-share triggered an abnormal trading alert after three consecutive sessions with cumulative gains exceeding 20% from May 28 to June 1. The company issued a clarification confirming normal operations with no undisclosed material information. Meanwhile, Shanghai Ruijun Asset Management reduced its H-share holdings by 4.916 million shares on May 28 at approximately 6.86 HKD per share, lowering its stake from 10.09% to 9.99%.
Fundamentally, Q1 net profit attributable to shareholders fell 9.83% year-over-year to 4.484 billion yuan, pressured by declining domestic generation volume and lower average settlement tariffs. Morgan Stanley raised its H-share target price to 6.1 HKD — still below current levels — while maintaining an Equal-weight rating, citing narrowing fuel cost-to-tariff spreads and potential Q2 earnings weakness.
(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.)
Comments