＜Research＞Citi Opens Downside 90-day Catalyst Watch on HUADIAN POWER (01071.HK)

　　Citi Research opened a downside 90-day catalyst watch on HUADIAN POWER (01071.HK) -0.260 (-5.869%) Short selling $5.65M; Ratio 4.125% , and expected worse-than-expected 1H24 earnings. Therefore, the broker rated HUADIAN POWER at Neutral, with a target price of $4.5.

　　Citi Research expected HUADIAN POWER's 2Q24 net profit to grow less than 10% YoY, much lower than the 77.8% growth in 1Q24 and the market consensus of a 68.5% YoY growth, mainly due to lower-than-expected coal-fired power generation, which fell by over 10% YoY in April-May, as hydropower substitution in Hubei, Hunan, Sichuan and Chongqing.

　　Related NewsUBS Raises TPs for CN Power Stocks, Citing Strong Industry Fundamentals

　　Among Chinese power utilities, Citi Research preferred CHINA RES POWER (00836.HK) -0.600 (-2.559%) Short selling $18.57M; Ratio 5.978% .

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-11 12:25.)

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