<p>DBS published a research report indicating that CHINA RES POWER's power generation in the first half of the year grew by 3.6%, which is below expectations. The bank has lowered its full-year power generation growth forecast by 8.4 percentage points, expecting a year-on-year growth of 4% to 9% in 2025 and 2026. Benefiting from expected fuel cost savings, profit growth is projected to be 6% in the first half of 2025. Based on attractive yields and valuations, the bank maintains a &#34;Buy&#34; rating on CHINA RES POWER, lowering the target price from HKD 24 to HKD 22.6 and reducing the profit forecasts for 2025 and 2026 by 4%, expecting profit growth of 7% and 13%, respectively</p>

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<p>DBS published a research report indicating that CHINA RES POWER's power generation in the first half of the year grew by 3.6%, which is below expectations. The bank has lowered its full-year power generation growth forecast by 8.4 percentage points, expecting power generation to grow by 4% to 9% year-on-year in 2025 and 2026. Benefiting from expected fuel cost savings, profit growth is projected to be 6% in the first half of 2025. Based on attractive yields and valuations, the bank maintains a "Buy" rating on CHINA RES POWER, lowering the target price from HKD 24 to HKD 22.6 and reducing the profit forecasts for 2025 and 2026 by 4%, expecting profit growth of 7% and 13%, respectively</p>

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